1. Summary Information

		Country	India
Company Name	DOZCO (India) Private Limited	Principal Name 1	Mr. Radhe Shyam Bangur
Status	Satisfactory	Principal Name 2	Mr. Shiv Kumar Bangur
		Registration #	21-54998
Street Address	6, Waterloo Street, 3^rd Floor, Room No. 309, Kolkata – 700069, West Bengal, India
Established Date	30.03.1992	SIC Code	--
Telephone#	91-33-22489809/ 2082/ 22101930/ 22482082/ 22305943/ 40066560	Business Style 1	Importer
Fax #	91-33-22480604	Business Style 2	Exporter
Homepage	http://www.dozco.com	Product Name 1	Heavy Earth Moving
# of employees	375 [In office : 150 and In Branch 225]	Product Name 2	Construction Machinery Spare Parts.
Paid up capital	Rs,21,165,000/-	Product Name 3	--
Shareholders	Bodies corporate- 66.85%, Directors or relatives of directors- 33.15%	Banking	Canara Bank
Public Limited Corp.	No	Business Period	20 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (45)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	665,489,000	Current Liabilities	491,908,000
Inventories	660,600,000	Long-term Liabilities	359,074,000
Fixed Assets	160,115,000	Other Liabilities	84,027,000
Deferred Assets	0,000	Total Liabilities	935,009,000
Invest& other Assets	65,761,000	Retained Earnings	595,791,000
		Net Worth	616,956,000
Total Assets	1,551,965,000	Total Liab. & Equity	1551,965,000
Total Assets (Previous Year)	1514,930,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Income	1455,500,000	Net Profit	43,366,000
Invome(Previous yr)	1562,200,000	Net Profit(Prev.yr)	33,172,000

MIRA INFORM REPORT

Report Date :

25.05.2012

IDENTIFICATION DETAILS

Name :	DOZCO (INDIA) PRIVATE LIMITED
Registered Office :	6, Waterloo Street, 3^rd Floor, Room No. 309, Kolkata – 700069, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	30.03.1992
Com. Reg. No.:	21-54998
Capital Investment/ Paid-up Capital:	Rs.21.165 Millions
CIN No.: [Company Identification No.]	U29130WB1992PTC054998
TAN No.: [Tax Deduction & Collection Account No.]	CALD01356F / CAHD04029E
PAN No.: [Permanent Account No.]	AABCD0776E
Legal Form :	Private Limited Liability Company
Line of Business :	Importer, Exporter and Distributors of all types of Heavy Earth Moving and Construction Machinery Spare Parts.
No. of Employees:	375 [In office : 150 and In Branch 225]

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 2468000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual 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

LOCATIONS

Registered Office :	6, Waterloo Street, 3^rd Floor, Room No. 309, Kolkata – 700069, West Bengal, India
Tel. No.:	91-33-22489809/ 2082/ 22101930/ 22482082/ 22305943/ 40066560
Fax No.:	91-33-22480604
E-Mail :	kolkata@dozco.com opbangur@dozco.com mailto:dozkkbms@md3.vsnl.net.in mailto:ngbdozco@cal3.vsnl.net.in
Website :	http://www.dozco.com
Area :	1000 sq. ft.
Location :	(Owned) Industrial area
Corporate Office :	Plot No. 243, Block D, Industrial Development Area, Auto Nagar, Visakhapatnam – 530012, Andhra Pradesh, India
Tel. No.:	91-891-2769681
Fax No.:	91-891-2769687
E-Mail :	vizag@dozco.com
Area :	11150 sq. Mtr.
Location :	Owned

SOLE PROPRIETOR/PARTNERS/DIRECTORS

As on 30.09.2011

Name :

Mr. Radhe Shyam Bangur

Designation :

Director

Address :

A- 32, Minocha Colony, Mungeli Road, Bilaspur - 495001, Chattisgarh, India

Date of Birth/Age :

21.01.1952

Date of Appointment :

30.03.1992

Din No.:

00120097

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	U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	Whole-time director	2/4/1990	2/4/1990	-	Amalgamated	NO
2	U29130WB1992PTC054998	DOZCO (INDIA) PVT LTD	Whole-time director	30/03/1992	30/03/1992	-	Active	NO
3	U51909WB1992PTC056527	GCB FINVEST P LTD.	Whole-time director	4/9/1992	4/9/1992	-	Active	NO
4	U71220WB2006PTC109476	DOZCO INFRATECH PRIVATE LIMITED	Whole-time director	19/05/2006	19/05/2006	-	Active	NO

Name :

Mr. Shiv Kumar Bangur

Designation :

Director

Address :

303, Amarjyoti Palace, Lokmat Square, Nagpur – 440012, Maharashtra, India

Date of Birth/Age :

19.02.1954

Date of Appointment :

01.04.1994

Din No.:

00120871

Name :

Mr. Om Prakash Bangur

Designation :

Whole time Director

Address :

50-A, Purna Das Road, 3^rd Floor, Kolkata – 700029, West Bengal, India

Date of Birth/Age :

14.02.1957

Qualification :

B. Com, ACA

Date of Appointment :

03.03.1992

Din No.:

00091652

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	U29130WB1992PTC054998	DOZCO (INDIA) PVT LTD	Whole-time director	30/03/1992	30/03/1992	-	Active	NO
2	U51909WB1992PTC056527	GCB FINVEST P LTD.	Whole-time director	4/9/1992	4/9/1992	-	Active	NO
3	U71220WB2006PTC109476	DOZCO INFRATECH PRIVATE LIMITED	Whole-time director	19/05/2006	19/05/2006	-	Active	NO
4	U70109WB1995PTC068174	SAMSUNG PROPERTIES PVT. LTD.	Director	1/8/2006	1/8/2006	-	Active	NO
5	U74950WB1993PTC060732	M G B COMMERCIAL PVT LTD	Director	3/10/2006	3/10/2006	-	Active	NO
6	U65921WB1994PTC151636	SINGH FINVEST PRIVATE LIMITED	Director	1/9/2011	1/9/2011	-	Active	NO
7	U52201WB1994PTC064706	SILKINA COMMODEAL PVT.LTD.	Director	22/10/2011	22/10/2011	-	Active	NO
8	U70109WB2012PTC172466	DOZCO-PMAX INFRA (INDIA) PRIVATE LIMITED	Director	18/01/2012	18/01/2012	-	Active	NO

Name :

Mr. Ramesh Kumar Bangur

Designation :

Director

Address :

Plot No.243, D-Block, Industrial Development Area, Auto Nagar, Vishakhapatabam – 530012, Andhra Pradesh, India

Date of Birth/Age :

10.12.1958

Qualification :

B. COM.

Date of Appointment :

30.03.1992

Din No.:

00241628

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	U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	Whole-time director	2/4/1990	2/4/1990	-	Amalgamated	NO
2	U29130WB1992PTC054998	DOZCO (INDIA) PVT LTD	Whole-time director	30/03/1992	30/03/1992	-	Active	NO
3	U70102AP2005PTC047122	RADIANT DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	15/07/2010	-	Active	NO

Name :

Mr. Nand Gopal Bangur

Designation :

Director

Address :

Plot No.243, D-Block, Industrial Development Area, Auto Nagar, Vishakhapatabam – 530012, Andhra Pradesh, India

Date of Birth/Age :

06.05.1964

Qualification :

M. Tech.

Date of Appointment :

30.03.1992

Din No.:

00241593

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	U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	Whole-time director	2/4/1990	2/4/1990	-	Amalgamated	NO
2	U29130WB1992PTC054998	DOZCO (INDIA) PVT LTD	Whole-time director	30/03/1992	30/03/1992	-	Active	NO
3	U71220WB2006PTC109476	DOZCO INFRATECH PRIVATE LIMITED	Whole-time director	19/05/2006	19/05/2006	-	Active	NO
4	U70102AP2005PTC047122	RADIANT DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	15/07/2010	-	Active	NO
5	U70109WB1995PTC068174	SAMSUNG PROPERTIES PVT. LTD.	Director	30/09/2011	1/10/2010	-	Active	NO
6	U70109WB2012PTC172466	DOZCO-PMAX INFRA (INDIA) PRIVATE LIMITED	Director	18/01/2012	18/01/2012	-	Active	NO

Name :

Mr. Kamal Kishore Bangur

Designation :

Director

Address :

248, Kilpauk Garden Road, Coral Orcheds, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

05.06.1968

Date of Appointment :

01.04.1994

Din No.:

00091697

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	U25199JH1990PTC003986	BANGUR RUBBER WORKS PRIVATE LIMITED	Whole-time director	2/4/1990	2/4/1990	-	Amalgamated	NO
2	U29130WB1992PTC054998	DOZCO (INDIA) PVT LTD	Whole-time director	1/4/1994	1/4/1994	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Om Prakash Bangur	91750
Shiv Kumar Bangur	79250
Bhagwani Devi Bangur	35000
Tara Bangur	33000
Ramesh Bangur	93000
Nanda Gopal Bangur	87650
Poonam Bangur	7400
Ramesh Bangur	10000
Nanda Gopal Bangur	10000
GCB Fivest Private Limited	90000
Kamal Kishore Bangur	71750
Manju Bangur	7400
Radhey Shyam Bangur	79000
Leela Bangur	26000
Shiv Kumar Bangur, Karta S K Bangur & Family (HUF)	15167
Ramesh Kumar Bangur, Karta S K Bangur & Family (HUF)	10585
Nand Gopal Bangur, Karta N G Bangur & Fimily (HUF)	10585

As 31.03.2011

Names of Alottees	No. of Shares
Singh Finvest Private limited	273500
Silikina Commedeal Private limited	41250
Total	314750

As on 30.09.2011

Category	Percentage
Bodies corporate	66.85
Directors or relatives of directors	33.15
Total	100.000

BUSINESS DETAILS

Line of Business :

Importer, Exporter and Distributors of all types of Heavy Earth Moving and Construction Machinery Spare Parts.

Products :

ITC Number of Product	Product Description
73261910	Heavy Earthmoving and Mining Equipments
0	Repairs and Maintenance Of Heavy Earthmoving And Mining Equipments

GENERAL INFORMATION

No. of Employees :

375 [In office : 150 and In Branch 225]

Bankers :

v Canara Bank

2, Brabourne Road, Calcutta - 700 001, West Bengal

v State Bank of India

Overseas Branch, 9-1-571, GNT Road, Visakhapatnam – 530013, Andhra Pradesh, India

v Canara Bank

New Market, Bank More, Dhanbad – 826001

v Indusind Bank

Kolkata Stock Exchange Branch, Kolkata – 700001, West Bengal, India

Facilities :

Rs. in Millions

SECURED LOAN	31.03.2011	31.03.2010
Working capital loans secured	*135.192	208.389
Loans taken for vehicles secured	6.714	4.259
Total	141906	212.648

*Indusind Bank (Cash Credit A/C) : Rs.0.187 Millions (Recd Certain Payments From Customers Against Outstanding Dues) SBI (Cash Credit A/C) : Rs.115.137 Millions ICICI Bank (Cash Credit A/C) : Rs.6.661 Millions Buyers Credit From State Bank Of India : Rs.13.580 Millions

UNSECURED LOAN	31.03.2011	31.03.2010
Rupee term loans others unsecured	*56.048	41.443
Other external commercial borrowings unsecured	149.424	165.195
Loans directors unsecured	5.351	6.951
Interest accrued due other debt unsecured	**6.345	14.173
Total	217.168	227.762

*Unsecured Inter corporate Loan : Rs.50.225 Millions Unsecured Loan From Relatives Of Directors : Rs.5.823 Millions

**Int On Inter corporate Loans: Rs.4.064 Millions Interest on Loans Form Directors and Share Holder Rs.2.281 Millions

Banking Relations :	--
Auditors :
Name :	R. K. Periwal and Company Chartered Accountants
Address :	165/1, Sarda Pally Sector 2 , Makhla, Hooghly – 712245, West Bangal, India
Pan no.:	AFNPP8149K
Associates/Subsidiaries :	· GCB Finvest Private Limited · Dozco Rental Private Limited · Mgb Commercial Private Limited · Samsung Properties Private Limited · Beijing Excon Equipment Company Limited

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Share	Rs.10/- each	Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2116515	Equity Share	Rs.10/- each	Rs.21.165 Millions

After 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Share	Rs.10/- each	Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2315265	Equity Share	Rs.10/- each	Rs.23.152 Millions

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		21.165	18.018	17.589
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		595.791	434.624	389.990
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		616.956	452.642	407.579
LOAN FUNDS
1] Secured Loans		141.906	212.648	208.649
2] Unsecured Loans		217.168	227.762	219.827
TOTAL BORROWING		359.074	440.410	428.476
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		976.030	893.052	836.055
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		160.115	153.010	158.095
Capital work-in-progress		25.575	10.326	0.000
INVESTMENT		40.186	12.873	12.872
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	660.600	680.576	758.532
	Sundry Debtors	412.084	445.880	324.818
	Cash & Bank Balances	113.962	100.251	85.010
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	139.443	112.014	83.666
Total Current Assets		1326.089	1338.721	1252.026
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	389.842	466.152	447.087
	Other Current Liabilities	102.066	94.006	95.282
	Provisions	84.027	61.720	44.569
Total Current Liabilities		575.935	621.878	586.938
Net Current Assets		750.154	716.843	665.088
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		976.030	893.052	836.055

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
		Income	1455.500	1562.200	NA
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		81.283	66.885	51.241
Less/ Add	DEPRECIATION/ AMORTISATION		16.346	16.722	15.270
	PROFIT BEFORE TAX		64.937	50.163	35.971
Less	TAX		21.571	17.051	13.690
	PROFIT AFTER TAX		43.366	33.112	22.280
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		25.608	21.712	23.547
Less	APPROPRIATIONS
		Transfer to General Reserve	30.000	25.000	20.000
		Dividend	4.233	3.604	3.517
		Tax on Dividend	0.719	0.612	0.598
	BALANCE CARRIED TO THE B/S		34.022	25.608	21.712
	EARNINGS IN FOREIGN CURRENCY		37.906	23.823	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.98	2.12	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.36	3.36	2.55
Return on Investment (ROI) (PBT/Networth)		0.11	0.11	0.09
Debt Equity Ratio (Total Liability/Networth)		1.52	2.35	2.49
Current Ratio (Current Asset/Current Liability)		2.30	2.16	2.13

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	Yes
No. of Employees	Yes
Name of Person Contacted	No
Designation of contact person	No
Turnover of firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

PERFORMANCE AND FUTURE OUT LOOK

The overall economic performance of the Company during the year under review was satisfactory. Your company has recorded increase in the Profits before Tax and after Tax at Rs.64.937 Millions and Rs.43.366 Millions respectively during the Year under review compared to Rs.50.163 Millions and Rs.33.112 Millions respectively in the previous Year. Though the Income during the year declined at Rs.1455.500 Millions as against Rs.1562.200 Millions in the previous year, decreased by about 8.10%, the company ultimately resulted in increase in the Profit as sales in respect of one Principal (Manitou BF, France) effected directly against commission income only, thereby, incurred lower procurement and corresponding expenses.

With Indian Government's persisting policy and effort for corrective measures and positive trend in the reversal of overall economic scenario being observed, also Government commitment towards Infrastructure Development, the management envisages better future in following years.

The company is continuing with its focus on expansion in range and scope to provide widespread service to the sector by concluding new

arrangements and tie ups for sales and distributions of new equipments and spares with high Brand value besides implementing forward looking HR Policy for smooth and homogeneous working condition leading to customer satisfaction and efficiency through well established nationwide network of 17 branches/outlets. These would provide encouraging opportunity for future growth

Form 8:

Corporate identity number of the company	U29130WB1992PTC054998
Name of the company	DOZCO (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	6, Waterloo Street, Suite No. 309, 3^rd Floor, Kolkata – 700069, West Bengal, India Email: kolkata@dozco.com
This form is for	Creation of charge
Type of charge	· Others
Particular of charge holder	State Bank of India, Commercial Branch, #43-29-54/8, Naron Road, Balaji Metro Chambers, Dondaparthy, Visakhapatnam, Andra Pradesh, India Email: rc.kolluru@sbi.co.in
Nature of description of the instrument creating or modifying the charge	Deed of Guarantee for Overall limit
Date of instrument Creating the charge	15.11.2011
Amount secured by the charge	Rs.80.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Not Applicable Terms of Repayment The Company has given its Corporate Guarantee for the Credit Facilities amounting to Rs.80.000 Millions sanctioned by State Bank of India, Commercial Branch, Visakhapatnam to Dozco Infratech Private Limited. Margin Not Applicable Extent and Operation of the charge The Company has given its Corporate Guarantee for the Credit Facilities amounting to Rs.80.000 Millions sanctioned by State Bank of India, Commercial Branch, Visakhapatnam to Dozco Infratech Private Limited and the charge will operate until repayment of entire dues to the Bank by Dozco Infratech Private Limited
Short particulars of the property charged	Corporate guarantee

FIXED ASSETS:

· Computer Installations

· Electricity Installations

· Furniture and Fixture

· Generator

· Office Building

· Land

· Motor Car

· Machinery and Implements

· Tools and Implements

· Telephone and Cell Phone

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 records 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.56.29
UK Pound	1	Rs.88.26
Euro	1	Rs.70.82

INFORMATION DETAILS

Report Prepared by :

BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.