MIRA INFORM REPORT

Report Date :

18.05.2012

IDENTIFICATION DETAILS

Name :	PHYTO BIOTECH PRIVATE LIMITED
Registered Office :	CF-366, Salt Lake City, Sector-1, Kolkata – 700064, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.03.2009
Com. Reg. No.:	133772
Capital Investment / Paid-up Capital :	Rs. Millions
CIN No.: [Company Identification No.]	U01407WB2009PTC133772
TAN No.: [Tax Deduction & Collection Account No.]	CALP08891B
PAN No.: [Permanent Account No.]	AAFCP0203N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Pharmaceutical Ingredients.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :	Yet to Commence
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	As per the latest financial available with government department, the company is yet to commence business. Payments are unknown. The company can be considered for business dealings on a safe and secured trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Jagat Bora
Designation :	Vice President
Contact No.:	91-9007566394
Date :	02.05.2012

LOCATIONS

Registered Office :	CF-366, Salt Lake City, Sector-1, Kolkata – 700064, West Bengal
Tel. No.:	91-33-40044714
Fax No.:	91-33-40044705
Email:	slajitsaria@prithvienergy.com
Factory :	Located at: · Guwahati · Bangalore
Branches :	BB 192, Salt Lake City, Sector-I, Kolkata – 700064, West Bengal, India

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Ramesh K. Sarawagi
Designation :	Director
Address :	CF-366, Salt Lake City, Sector-1, Kolkata – 700064, West Bengal, India
Date of Birth/Age :	24.11.1953
Date of Appointment :	13.03.2009

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U51909AS1999PTC005765	PURVANCHAL URJA & ISPAT PRIVATE LIMITED	Director	27/05/1999	27/05/1999	01/12/2009	Active	NO
2	U16003AS2000PTC006135	KAZIRANGA POWER & STEEL PRIVATE LIMITED	Director	24/04/2000	24/04/2000	-	Active	NO
3	U20211AS1985PLC002383	GLOBE POWER & STEEL LIMITED	Director	01/08/2000	01/08/2000	-	Active	NO
4	U16009AS1999PTC005937	VISION INDUSTRIES PRIVATE LIMITED	Director	01/02/2002	01/02/2002	-	Active	NO
5	U40105WB2005PLC104912	PRITHVI ENERGY LIMITED	Director	01/02/2009	24/10/2005	-	Active	NO
6	U70109WB2006PLC111457	DHARIWAL INFRASTRUCTURE LIMITED	Director	03/10/2006	03/10/2006	04/01/2010	Active	NO
7	U27100WB2008PTC121962	PRITHVI FERRO ALLOYS PRIVATE LIMITED	Director	22/01/2008	22/01/2008	-	Active	NO
8	U40109WB2008PTC123216	VISION URJA PRIVATE LIMITED	Director	27/02/2008	27/02/2008	26/04/2010	Active	NO
9	U26940WB2008PTC124160	VISION CEMENTS PRIVATE LIMITED	Director	14/03/2008	14/03/2008	-	Active	NO
10	U01132WB2008PTC128046	PRITHVI TEA CO. PRIVATE LIMITED	Director	30/09/2010	06/08/2008	-	Active	NO
11	U14200ML2008PTC008334	PRITHVI MINING & STEEL PRIVATE LIMITED	Director	24/09/2008	24/09/2008	15/04/2010	Active	NO
12	U40104WB2008PTC130577	DHARIWAL POWER & ALLOYS PRIVATE LIMITED	Director	15/11/2008	15/11/2008	-	Active	NO
13	U01407WB2009PTC133772	PHYTO BIOTECH PRIVATE LIMITED	Director	13/03/2009	13/03/2009	-	Active	NO
14	U10100DL2009PLC191466	GONDKHARI COAL MINING LIMITED	Director	22/06/2009	22/06/2009	-	Active	NO
15	U14200ML2008PTC008340	ADITYA MINING & STEEL PRIVATE LIMITED	Director	29/09/2010	15/04/2010	22/11/2010	Active	NO
16	U15492WB1923PTC004704	THE DOLAGURI TEA CO PVT LTD	Director	30/09/2011	27/10/2010	-	Active	NO
17	U70100WB2008PTC124175	PRITHVI INFRAPROJECTS PRIVATE LIMITED	Director	30/09/2011	01/01/2011	-	Active	NO
18	U70101WB1980PLC032922	KHARIKATIA TEA & INDUSTRIES LIMITED	Director	30/09/2011	16/02/2011	-	Active	NO
19	U01403WB2012PTC175496	WOKA TEA COMPANY PRIVATE LIMITED	Director	12/03/2012	12/03/2012	-	Active	NO

Name :	Mr. Shankar Lall Ajitsaria
Designation :	Director
Address :	CF-366, Salt Lake City, Sector-1, Kolkata – 700064, West Bengal, India
Date of Birth/Age :	07.08.1954
Date of Appointment :	13.03.2009

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U51909AS1999PTC005765	PURVANCHAL URJA & ISPAT PRIVATE LIMITED	Director	27/05/1999	27/05/1999	01/12/2009	Active	NO
2	U16009AS1999PTC005896	NEWZONE INDIA PRIVATE LIMITED	Director	12/10/1999	12/10/1999	26/07/2010	Active	NO
3	U16009AS1999PTC005937	VISION INDUSTRIES PRIVATE LIMITED	Director	10/11/1999	10/11/1999	-	Active	NO
4	U40105WB2005PLC104912	PRITHVI ENERGY LIMITED	Director	01/02/2009	24/08/2005	-	Active	NO
5	U20211AS1985PLC002383	GLOBE POWER & STEEL LIMITED	Director	12/12/2005	12/12/2005	-	Active	NO
6	U02001WB1997PTC083270	PRITHVI KHANIJ SAMPADA PVT. LTD.	Director	20/04/2006	20/04/2006	26/07/2010	Active	NO
7	U70109WB2006PLC111457	DHARIWAL INFRASTRUCTURE LIMITED	Director	03/10/2006	03/10/2006	27/08/2009	Active	NO
8	U40106WB2008PTC123311	NEWZONE POWER PROJECTS PRIVATE LIMITED	Director	13/09/2010	28/02/2008	-	Active	NO
9	U70100WB2008PTC124175	PRITHVI INFRAPROJECTS PRIVATE LIMITED	Director	14/03/2008	14/03/2008	-	Active	NO
10	U01132WB2008PTC128046	PRITHVI TEA CO. PRIVATE LIMITED	Additional director	06/08/2008	06/08/2008	01/12/2008	Active	NO
11	U14200ML2008PTC008334	PRITHVI MINING & STEEL PRIVATE LIMITED	Director	24/09/2008	24/09/2008	-	Active	NO
12	U40104WB2008PTC130577	DHARIWAL POWER & ALLOYS PRIVATE LIMITED	Director	15/11/2008	15/11/2008	-	Active	NO
13	U01407WB2009PTC133772	PHYTO BIOTECH PRIVATE LIMITED	Director	13/03/2009	13/03/2009	-	Active	NO
14	U45201AS2010PTC009730	PRITHVI INFRA ESTATES PRIVATE LIMITED	Director	30/09/2011	24/09/2010	-	Active	NO
15	U15492WB1923PTC004704	THE DOLAGURI TEA CO PVT LTD	Director	30/09/2011	27/10/2010	-	Active	NO
16	U70101WB1980PLC032922	KHARIKATIA TEA & INDUSTRIES LIMITED	Director	30/09/2011	16/02/2011	-	Active	NO
17	U01403WB2012PTC175496	WOKA TEA COMPANY PRIVATE LIMITED	Director	12/03/2012	12/03/2012	-	Active	NO

Name :	Mr. Arun Kumar Mohta
Designation :	Director
Address :	9, Ram Suroop Khatrie Road, Kolkata – 700053, West Bengal, India
Date of Birth/Age :	18.01.1960
Date of Appointment :	13.03.2009

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45201WB1989PTC047619	NEHA BUILDING COMPLEX P. LTD.	Director	12/07/1990	12/07/1990	-	Active	NO
2	U24129WB1993PTC059285	BICCO AGRO PRODUCTS PVT.LTD.	Director	30/06/1993	30/06/1993	-	Active	NO
3	U51226WB1998PTC086854	ARGO FOOD STUFF PRIVATE LIMITED	Director	27/03/1998	27/03/1998	-	Active	NO
4	U15492WB1923PTC004704	THE DOLAGURI TEA CO PVT LTD	Director	15/01/2007	15/01/2007	-	Active	NO
5	U01407WB2009PTC133772	PHYTO BIOTECH PRIVATE LIMITED	Director	13/03/2009	13/03/2009	-	Active	NO
6	U01403WB2012PTC175496	WOKA TEA COMPANY PRIVATE LIMITED	Director	12/03/2012	12/03/2012	-	Active	NO

Name :	Mr. Pankaj Sarawagi
Designation :	Director
Address :	CF-366, Salt Lake City, Sector-1, Kolkata – 700064, West Bengal, India
Date of Birth/Age :	20.09.1984
Date of Appointment :	05.10.2009

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U01132WB1950PLC094361	THE EASTERN TEA ESTATES LIMITED	Whole-time director	01/04/2008	01/04/2008	-	Active	NO
2	U01132WB2008PTC128046	PRITHVI TEA CO. PRIVATE LIMITED	Director	31/07/2008	31/07/2008	18/12/2008	Active	NO
3	U16009AS1999PTC005896	NEWZONE INDIA PRIVATE LIMITED	Director	29/09/2008	28/08/2008	-	Active	NO
4	U14200ML2008PTC008340	ADITYA MINING & STEEL PRIVATE LIMITED	Director	16/10/2008	16/10/2008	22/11/2010	Active	NO
5	U13209DL2008PTC178658	SIDDHI VINAYAK MINERALS & METALS PRIVATE LIMITED	Additional director	22/11/2008	22/11/2008	-	Active	NO
6	U74899DL1987PTC027873	GENORIA TIMBERS PRIVATE LIMITED	Additional director	22/11/2008	22/11/2008	01/03/2011	Active	NO
7	U27209DL2008PTC179047	UNIQUE FERROUS AND STEEL PRIVATE LIMITED	Additional director	22/11/2008	22/11/2008	01/01/2012	Active	NO
8	U74120DL2008PTC178657	GENORIA RESOURCES PRIVATE LIMITED	Additional director	22/11/2008	22/11/2008	01/03/2011	Active	NO
9	U01407WB2009PTC133772	PHYTO BIOTECH PRIVATE LIMITED	Director	30/09/2010	05/10/2009	-	Active	NO
10	U17298WB1990PLC049254	TRIMURTI INDUSTRIES LTD	Director	30/09/2010	01/12/2009	24/02/2012	Active	NO
11	U02001WB1995PTC074193	BEEKAY INFRAPROJECTS PRIVATE LIMITED	Director	28/09/2010	17/08/2010	-	Active	NO
12	U45201AS2010PTC009730	PRITHVI INFRA ESTATES PRIVATE LIMITED	Director	30/09/2011	24/09/2010	-	Active	NO
13	U74930WB2010PTC154921	PRITHVI INDUSTRIES PRIVATE LIMITED	Director	23/11/2010	23/11/2010	-	Active	NO
14	U14200ML2011PTC008457	PREMIUM URJA PROJECTS PRIVATE LIMITED	Director	01/03/2011	01/03/2011	-	Active	NO

Name :	Mr. Bijay Kumar Garodia
Designation :	Director
Address :	CF-366, Salt Lake City, Sector-1, Kolkata – 700064, West Bengal, India
Date of Birth/Age :	26.08.1957
Date of Appointment :	01.12.2009

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U20101AR1982PTC001975	BORDURIA TIMBER PRODUCTS PVT LTD	Director	19/05/1993	19/05/1993	06/02/2008	Active	NO
2	U26942ML2003PLC007125	MEGHALAYA CEMENTS LIMITED	Director	12/06/2003	12/06/2003	-	Active	NO
3	L01403AS1999PLC005741	BARAK VALLEY CEMENTS LIMITED	Whole-time director	01/06/2009	31/05/2004	-	Active	NO
4	U10300WB1999PLC088668	TRANS ASIA DRILLING INTERNATIONAL LIMITED	Director	02/05/2005	02/05/2005	31/12/2007	Active	NO
5	U40105WB2005PLC104912	PRITHVI ENERGY LIMITED	Director	24/08/2005	24/08/2005	-	Active	NO
6	U15209AS2005PTC007819	PRITHVI DAIRY PRIVATE LIMITED	Director	31/12/2005	31/12/2005	14/06/2010	Active	NO
7	U55101AS1988PTC002946	R G GARODIA PROPERTIES PVT LTD	Director	06/01/2006	06/01/2006	24/01/2008	Active	NO
8	U13100AS1994PTC004127	GARKOT INDIA PVT LTD	Director	18/01/2006	18/01/2006	24/01/2008	Active	NO
9	U70109WB2006PLC111457	DHARIWAL INFRASTRUCTURE LIMITED	Director	03/10/2006	03/10/2006	24/11/2009	Active	NO
10	U40104WB2006PLC112070	OASYS POWER LIMITED	Director	01/03/2007	12/12/2006	15/11/2009	Active	NO
11	U51909AS2007PTC008327	PRITHVI NIRMAAN PRIVATE LIMITED	Director	24/02/2007	24/02/2007	29/01/2010	Active	NO
12	U40101WB2007PLC114357	NIRLON POWERCEM LIMITED	Director	21/03/2007	21/03/2007	15/11/2009	Active	NO
13	U26942ML2007PLC008269	MEGHABOND CEMENTS LIMITED	Director	18/07/2007	18/07/2007	15/11/2009	Active	NO
14	U10103WB2007PTC117640	CANIS MINES AND MINERALS PRIVATE LIMITED	Director	06/08/2007	06/08/2007	15/11/2009	Active	NO
15	U27100WB2008PTC121962	PRITHVI FERRO ALLOYS PRIVATE LIMITED	Director	24/09/2008	22/05/2008	-	Active	NO
16	U14200ML2008PTC008340	ADITYA MINING & STEEL PRIVATE LIMITED	Director	16/10/2008	16/10/2008	-	Active	NO
17	U40104WB2008PTC130577	DHARIWAL POWER & ALLOYS PRIVATE LIMITED	Director	15/11/2008	15/11/2008	-	Active	NO
18	U20211AS1985PLC002383	GLOBE POWER & STEEL LIMITED	Director	30/09/2009	01/08/2009	26/07/2010	Active	NO
19	U26940AS2009PLC009197	VALLEY STRONG CEMENTS (ASSAM) LIMITED	Director	21/08/2009	21/08/2009	29/01/2010	Active	NO
20	U01407WB2009PTC133772	PHYTO BIOTECH PRIVATE LIMITED	Director	30/09/2010	01/12/2009	-	Active	NO
21	U27205AP2009PLC066507	TOP METALS LIMITED	Director	31/12/2009	31/12/2009	-	Active	NO
22	U16009AS1999PTC005896	NEWZONE INDIA PRIVATE LIMITED	Director	27/09/2010	26/07/2010	-	Active	NO
23	U01132AS1962PLC001188	GOOMBIRA TEA CO LTD	Director	23/06/2011	05/01/2011	-	Active	NO
24	U70101WB1980PLC032922	KHARIKATIA TEA & INDUSTRIES LIMITED	Director	30/09/2011	16/02/2011	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Sanjana
Designation :	Research and Development Department
Name :	Mr. Jagat Bora
Designation :	Vice President

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Ramesh K. Sarawagi	18000
Shankar Lall Ajitsaria	28000
Bijay Kumar Garodia	28000
Arun Kumar Mohta	14800
Pankaj Sarawagi	10000
Total	98800

AS ON 30.09.2011

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Pharmaceutical Ingredients.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

HDFC Bank, Sector -1, Kolkata Branch

Facilities:

UNSECURED LOAN	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Bodies Corporates	43.296	0.000
TOTAL	43.296	0.000

Banking Relations :	---
Auditors :
Name :	Anil Kumar Gupta Chartered Accountant
Address :	Mukherjee Plaza, Flat No. 304, 2^nd Floor, 107/A, N.K. Banerjee Street, Rishra – 712248, West Bengal, India
Tel. No.:	91-33-26728628
E-Mail :	Anil8628@sify.com
Associates/Subsidiaries :	NA

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
98800	Equity Shares	Rs.10/- each	Rs. 0.988 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.988	0.100	0.100
2] Share Application Money		0.000	0.300	0.000
3] Reserves & Surplus		0.020	0.011	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.008	0.411	0.100
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		43.296	0.000	0.000
TOTAL BORROWING		43.296	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		44.304	0.411	0.100
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.931	0.787	0.000
Capital work-in-progress		24.038	12.939	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.058	0.000
	Cash & Bank Balances	0.029	0.901	0.091
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	8.712	0.581	0.000
Total Current Assets		8.741	1.540	0.091
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.942	0.343	0.000
	Other Current Liabilities	0.374	17.930	0.060
	Provisions	0.004	0.005	0.000
Total Current Liabilities		2.320	18.278	0.060
Net Current Assets		6.421	(16.738)	0.031
MISCELLANEOUS EXPENSES		11.914	3.423	0.069
TOTAL		44.304	0.411	0.100

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Total Turnover	0.012	0.073
	EXPENSES
		TOTAL	0.000	0.056
	PROFIT BEFORE TAX		0.012	0.017
Less	TAX		0.004	0.005
	PROFIT AFTER TAX		0.008	0.012

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	66.67	23.28	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.11	0.73	NA
Return on Investment (ROI) (PBT/Networth)		0.01	0.04	NA
Debt Equity Ratio (Total Liability/Networth)		45.25	44.47	0.60
Current Ratio (Current Asset/Current Liability)		3.77	0.08	1.51

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter's background	Yes
8) No. of employees	No
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	--
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

Fixed Assets

• Furniture and Fixture
• Motor Car
• Computer
• Air Conditioner
• Office Equipment’s

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.38
UK Pound	1	Rs.86.55
Euro	1	Rs.69.30

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	SDA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		13

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.