1. Summary Information

		Country	India
Company Name	NEXUS INFRATECH PRIVATE LIMITED	Principal Name 1	Mr. Shaileshbhai Indradamanbhai Patwari
Status	Satisfactory	Principal Name 2	Mr. Pathik Shaileshbhai Patwari
		Registration #	04-049932
Street Address	201, 2^nd Floor, Royal Manor, Near Rangwala Tower, Near Law Garden, Ellisbridge, Ahmedabad – 380006, Gujarat, India
Established Date	05.02.2007	SIC Code	--
Telephone#	91-79-26445500/32908300	Business Style 1	Manufacturer
Fax #	91-79-26440055	Business Style 2	-
Homepage	Not Available	Product Name 1	Electric Fans Coolers
# of employees	Not Available	Product Name 2	Hangers Cloth Pegs
Paid up capital	Rs. 5,000,000/-	Product Name 3	Roofings Ceiling Panels.
Shareholders	Directors or relatives of directors – 100.00%	Banking	Bank of India
Public Limited Corp.	NO	Business Period	5 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (44)
Related Company
Relation	Country	Company Name	CEO
Enterprises Controlled by the same Promoters	--	Nexus Spray Foam Private Limited Nexus Pharmachem Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	77,285,000	Current Liabilities	93,808,000
Inventories	66,439,000	Long-term Liabilities	50,905,000
Fixed Assets	26,761,000	Other Liabilities	1,233,000
Deferred Assets	12,000	Total Liabilities	145,946,000
Invest& other Assets	000	Retained Earnings	19,551,000
		Net Worth	24,551,000
Total Assets	1,70,497,000	Total Liab. & Equity	1,70,497,000
Total Assets (Previous Year)	1,23,159,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	3,28,260,000	Net Profit	4,439,000
Sales(Previous yr)	2,23,033,000	Net Profit(Prev.yr)	8,400,000

MIRA INFORM REPORT

Report Date :

08.11.2012

IDENTIFICATION DETAILS

Name :	NEXUS INFRATECH PRIVATE LIMITED (w.e.f. 28.06.2007)
Formerly Known As :	INDUSTRIAL INFRATECH PRIVATE LIMITED
Registered Office :	201, 2^nd Floor, Royale Manor, Near Rangwala Tower, Near Law Garden, Ellisbridge, Ahmedabad – 380006, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	05.02.2007
Com. Reg. No.:	04-049932
Capital Investment / Paid-up Capital :	Rs. 5.000 Millions
CIN No.: [Company Identification No.]	U45202GJ2007PTC049932
TAN No.: [Tax Deduction & Collection Account No.]	AHMN03479A
PAN No.: [Permanent Account No.]	AACCN5391G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Service Provider of Electric Fans Coolers, Hangers Cloth Pegs and Roofings Ceiling Panels.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 90000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Even though the company has recorded some growth in its income from operations during 2012, there appears some dip in the profits However, trade relations are reported as fair. Business is active. Payments are reported to be usually correct. 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	201, 2^nd Floor, Royal Manor, Near Rangwala Tower, Near Law Garden, Ellisbridge, Ahmedabad – 380006, Gujarat, India
Tel. No.:	91-79-26445500/32908300
Fax No.:	91-79-26440055
E-Mail :	samir@smshah.co.in

DIRECTORS

As on: 30.09.2011

Name :

Mr. Shaileshbhai Indradamanbhai Patwari

Designation :

Director

Address :

6-B, Krishna Society, Ellisbridge, Ahmedabad – 380006, Gujarat, India

Date of Birth/Age :

18.10.1953

Date of Appointment :

05.02.2007

PAN No.:

ACCPP5589R

DIN No.:

00411439

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24119GJ1990PTC013726	CHANDAN INTERMEDIATES AND CHEMICALS PRIVATE LIMITED	Director	07-05-90	07-05-90	-	Dormant	NO
2	U29199GJ1995NPL027917	NARODA ENVIRO PROJECTS LIMITED	Managing director	19-10-95	19-10-95	-	Active	NO
3	U73100GJ2005NPL046565	NARODA UTILITIES SERVICES	Director	10-08-05	10-08-05	-	Active	NO
4	U45209GJ2005NPL046416	NOVEL INFRASTRUCTURE LIMITED	Director	25-10-05	25-10-05	-	Active	NO
5	U45202GJ2007PTC049932	NEXUS INFRATECH PRIVATE LIMITED	Director	05-02-07	05-02-07	-	Active	NO
6	U24231GJ2002PTC040850	NEXUS PHARMA CHEM PRIVATE LIMITED	Director	01-05-07	01-05-07	-	Active	NO
7	U24100GJ2010PTC061101	NEXUS SPRAY FOAM PRIVATE LIMITED	Director	15-06-10	15-06-10	-	Active	NO

Name :

Mr. Pathik Shaileshbhai Patwari

Designation :

Director

Address :

6-B, Krishna Society, Ellisbridge, Ahmedabad – 380006, Gujarat, India

Date of Birth/Age :

31.03.1980

Date of Appointment :

05.02.2007

DIN No.:

02428297

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24231GJ2002PTC040850	NEXUS PHARMA CHEM PRIVATE LIMITED	Director	10-06-02	10-06-02	-	Active	NO
2	U45202GJ2007PTC049932	NEXUS INFRATECH PRIVATE LIMITED	Director	05-02-07	05-02-07	-	Active	NO
3	U24100GJ2010PTC061101	NEXUS SPRAY FOAM PRIVATE LIMITED	Director	15-06-10	15-06-10	-	Active	NO
4	U26933GJ2010PTC061826	SEASON XZARA CERAMICS (INDIA) PRIVATE LIMITED	Director	02-08-10	02-08-10	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Shaileshbhai Indradamanbhai Patwari	270000
Pathik Shaileshbhai Patwari	230000
Total	500000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Service Provider of Electric Fans Coolers, Hangers Cloth Pegs and Roofings Ceiling Panels.

GENERAL INFORMATION

Suppliers :

· Bharat Crane Services

· Mirror Image

· G. A. Shukla

· Naman Electric Company

· Ramdev Constructions

· Atul Bhatt and Company

· The Professional Courier

· Arora Crane Service

· B. K. Industries

· G. S. Crane Service

· N. B. Parmar

· Punjab Crane Service

· United Crane Service

· Safe Consultancy Service

· PRC Logistic Private Limited

· OM International

· Robin Mogera

· Sunder Balan

· N. P. Sales

· Sonar Enterprises

Customers :

· Asian Food Industries

· Rushil Décor Limited

· Bhatia Wine Merchants

· BMM Ispat Limited

· Golden Prince Wines India Private Limited

· Jay Corporation

· J. R. Enterprises

· Shabina Foods

· Rushil Décor Limited

· Mother Diary

· Deep Construction Company

· Gayatri Group of Industries

· Navkar Engineers

· Oswal Industries Limited

· Shree Krishna Enterprises

· Ambica Technolax (Guj) Private Limited

· Anurag Transport

· BMM Ispat Limited

· Om Construction

· Vichi Agro Products Private Limited

· Sunrise Group of Institution

No. of Employees :

Not Available

Bankers :

· Bank of India, Navrangpura (C&P Banking) Branch, Swastik Char Rasta, Navrangpura, Ahmedabad - 380009, Gujarat, India

· State Bank of India, Main Branch, Lal Darwaja, Ahmedabad - 380001, Gujarat, India

· HDFC Bank, India

· ICICI Bank, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
SBI CC A/C. - 30199370130 (Secured against hypothecation of Book Debt, Stock , Plant and Machinery, Factory Shed and Mortgage of Office Premises in the name of Nexus Pharma chem Private Limited)	(0.004)	(0.008)
The Cosmos Co-op. Bank Ltd - Car Loan (Secured against hypothecation of Motor Car - Outlander)	0.261	0.686
Bank of India -Cash Credit (Secured Against Hypothecation of Book Debts, Stock, Plant and Machinery, Factory Shed and Mortgage of Office Premises in the name of Nexus Pharma chem Private Limited)	39.313	6.865
Magma Fincrporation Limited – Term Loan	2.059	2.450
HDFC Bank Limited (Crane)	1.604	0.000
ICICI Bank Limited (BMW Car)	3.136	0.000
ICICI Bank Limited 698-Horse	1.483	0.000
Total	47.852	9.993
Unsecured Loan	As on 31.03.2012	As on 31.03.2011
From Shareholders and Relatives Mr. Pathik S. Patwari Mr. Shailesh I. Patwari Mrs. Jayana S. Patwari Mrs. Prachi P. Patwari Mrs. Damyantiben I Patwari	0.138 1.926 0.205 0.326 0.458	0.116 3.742 0.184 0.289 0.407
Total	3.052	4.738

Banking Relations :	--
Auditors :
Name :	Samir M. Shah and Associates Chartered Accountants
Address :	B-516, Gopal Palace, Opposite Ocean Park, Near Shiromani Flats, Satellite Road, Ahmedabad – 380015, Gujarat, India
PAN No.:	ABXFS5479F
Enterprises Controlled by the same Promoters :	· Nexus Spray Foam Private Limited · Nexus Pharmachem Private Limited

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

NOTES:

(Rs in Millions)

Particular	As at 31.03.2012	As at 31.03.2011
Reconciliation of the number of shares and amount outstanding at the beginning and at the reporting year: Outstanding at the beginning of the year Add: Issued during the year	0.500 -	0.500 -
Outstanding at the end of the year	0.500	0.500
Outstanding Amount at the beginning of the year Add: Issued during the year	5.000 -	5.000 -
Outstanding Amount at the end of the year	5.000	5.000
Terms/Right attached to Equity Shares: The Company has only one class of equity shares having per value of Rs. 10 per share. Each holder of equity shares is entitled to vote per share In the event of liquidation of the company, the holders of the equity shares will be entailed to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Details of Shareholders holding more than 5 percent equity shares:

Particular	As at 31.03.2012	As at 31.03.2011
Shailesh Indradaman Patwari Nos %Holding Pathik Shailesh Patwari Nos %Holding	270.000 54.00% 230.000 46.00%	270.000 54.00% 230.00 46.00%

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		5.000	5.000	5.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		19.551	15.093	6.680
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		24.551	20.093	11.680
LOAN FUNDS
1] Secured Loans		47.852	9.993	7.845
2] Unsecured Loans		3.053	4.738	3.916
TOTAL BORROWING		50.905	14.731	11.761
DEFERRED TAX LIABILITIES		0.000	0.008	0.020
TOTAL		75.456	34.832	23.461
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		26.761	17.888	13.885
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.012	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	66.439	74.247	20.813
	Sundry Debtors	51.603	14.739	18.423
	Cash & Bank Balances	0.833	0.028	0.231
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	24.849	16.257	5.172
Total Current Assets		143.724	105.271	44.639
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	63.409	41.426	23.140
	Other Current Liabilities	30.399	48.263	10.984
	Provisions	1.233	(1.362)	0.939
Total Current Liabilities		95.041	88.327	35.063
Net Current Assets		48.683	16.944	9.576
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		75.456	34.832	23.461

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		TOTAL	328.260	223.033	103.670
Less	EXPENSES
		TOTAL	317.745	208.519	95.241
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		10.515	14.514	8.429
Less/ Add	DEPRECIATION/ AMORTISATION		3.913	1.880	1.483
	PROFIT BEFORE TAX		6.603	12.634	6.946
Less	TAX		2.164	4.234	2.149
	PROFIT AFTER TAX		4.439	8.400	4.797
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		15.092	6.681	1.890
Less	APPROPRIATIONS
		Tax on Dividend	(0.021)	(0.012)	0.006
	BALANCE CARRIED TO THE B/S		19.552	15.093	6.681
	Earnings Per Share		8.92	16.82	9.59

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.35	3.77	4.63
Return on Total Assets (PBT/Total Assets}	(%)	3.87	10.26	11.87
Return on Investment (ROI) (PBT/Networth)		0.27	0.63	0.59
Debt Equity Ratio (Total Liability/Networth)		5.95	5.13	4.09
Current Ratio (Current Asset/Current Liability)		1.51	1.19	1.27

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
10]	Designation of contact person	No
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	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE:

The registered office of the company has been shifted from 18, Nirav Complex, Opposite, Navrang School, Ahmedabad – 380014, Gujarat, India to present address w.e.f. 14.09.2007

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U45202GJ2007PTC049932
Name of the company	NEXUS INFRATECH PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	201, 2nd Floor, Royale Manor, Nr. Rangwala Tower, Nr. Law Garden, Ellisbridge, Ahmedabad-380006, Gujarat, India samir@smshah.co.in
This form is for	Modification of charges
Type of charge	· Immovable Property · Any interest In Immovable Property
Particular of charge holder	BANK OF INDIA Navrangpura (C&P Banking) Branch, Swastik Char Rasta, Navrangpura, Ahmedabad - 380009, Gujarat, India navrangpura.ahmedabad@bankofindia.co.in
Nature of instrument creating charge	Supplemental Memorandum of Entry For modification of mort ch on immoveable property in favour of bank by deposit & delivery of title deeds on 22.12.2011 to secure FB & NFB credit facilities aggregating of Rs. 100.000 Millions registered with sub registrar Bopal - Ahmedabad registered at Dastavrj no 808 Dated 22.12.2011.
Date of instrument Creating the charge	22.12.2011
Amount secured by the charge	Rs.100.00 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cc Stk & Bk Dts - 3.25% Over Base Rate, Presently 14% With Monthly Rests and LC / BK GUA Terms of Repayment CC Stock and Book Debts- On Demand Letter Of Credit - On Due Date Bank Guarantee - On Due Date Margin CC Stock - 25% CC Book Debts - 40% Letter Of Credit - 20% Bank Guarantee - 20% Extent and Operation of the charge First and Exclusive Mort Ch on all immovable properties being land, bldg, sheds, cabins, store rooms, structures, fixed plant and mach of the company to secure the FB and NFB credit facilities aggregating Rs.100.000 Millions alongwith interest, additional interest, penal interest, liquidated damages, costs, charges, commission and all other amt due to the bank from time to time of what so ever nature. Others Amt Rs In Millions Fund Based Cc Hypo Stock 40.000 Cc Hypo Book Debts 20.000 Max FB Lim 40.000 Non Fund Based Letter Of Credit 50.000 Bank Guaratee 10.000 Total NFB Limit 60.000 Total Agg Limit 100.000 ( 400.00 + 600.000)
Short particulars of the property charged	All The Piece and Parcel Of Leasehold Plot No. 25/2 Adm Abt 1676 Sq Mtrs In Naroda Ind Area GIDC, Situate At Rs No. 216 and 220 Paiki and Other Land Of Vil Naroda, Tal City, Dist Ahm and Sub Dist Ahm-6 Naroda
Particulars of the present modification	Amt Rs In Millions Fund Based Cc Hypo Stock 40.000 Cc Hypo Book Debts 20.000 Max FB Lim 40.000 Non Fund Based Letter Of Credit 50.000 Bank Guaratee 10.000 Total NFB Limit 60.000 Total Agg Limit 100.000 ( 400.00 + 600.000)

FIXED ASSETS

· Air Conditioner

· Plant and Machinery

· Software

· Computer

· Furniture and Fixtures

· Mobile Instrument

· Motor Car

· Truck

· Building

· Land

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. 54.25
UK Pound	1	Rs. 87.00
Euro	1	Rs. 69.83

INFORMATION DETAILS

Report Prepared by :

UDS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		44

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.