1. Summary Information

		Country	India
Company Name	SAKAL PAPERS PRIVATE LIMITED	Principal Name 1	Mr. Pratap Govind Pawar
Status	Good	Principal Name 2	Mr. Abhijit Pratap Pawar
		Registration #	11-006177
Street Address	595, Budhwar Peth, Pune – 411002, Maharashtra, India
Established Date	16.02.1948	SIC Code	--
Telephone#	91-20-24455500 / 24455501 / 24455588 / 24455500 / 24405500	Business Style 1	Printing
Fax #	91-20-24450583	Business Style 2	Publishing
Homepage	http://www.sakaal.in	Product Name 1	News Papers
# of employees	22000 (Approximately)	Product Name 2	Multimedia Activities
Paid up capital	Rs.8,718,000/-	Product Name 3	--
Shareholders	Bodies corporate – 80.30% Directors or relatives of Directors-19.65% Other top fifty shareholders-0.05%	Banking	Bank of Maharashtra
Public Limited Corp.	NO	Business Period	64 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	A (58)
Related Company
Relation	Country	Company Name	CEO
Related Parties	India	ASK Chemicals Foundry Solution India Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,181,851,000	Current Liabilities	884,911,000
Inventories	294,756,000	Long-term Liabilities	953,152,000
Fixed Assets	1,697,418,000	Other Liabilities	33,266,000
Deferred Assets	0,000	Total Liabilities	1,871,329,000
Invest& other Assets	62,483,000	Retained Earnings	1,356,461,000
		Net Worth	1,365,179,000
Total Assets	3,236,508,000	Total Liab. & Equity	3,236,508,000
Total Assets (Previous Year)	2,801,966,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	3,964,013,000	Net Profit	52,407,000
Sales(Previous yr)	3,209,093,000	Net Profit(Prev.yr)	220,671,000

MIRA INFORM REPORT

Report Date :

20.11.2012

IDENTIFICATION DETAILS

Name :	SAKAL PAPERS PRIVATE LIMITED (w.e.f. 16.06.2011)
Formerly Known As :	SAKAL PAPERS LIMITED
Registered Office :	595, Budhwar Peth, Pune – 411002, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.02.1948
Com. Reg. No.:	11-006177
Capital Investment / Paid-up Capital :	Rs.8.718 Millions
CIN No.: [Company Identification No.]	U22121PN1948PLC006177
TAN No.: [Tax Deduction & Collection Account No.]	NGPS03468D
PAN No.: [Permanent Account No.]	AACCS7605Q
Legal Form :	Private Limited Liability Company
Line of Business :	Printing and Publishing of News Papers and Multimedia Activities.
No. of Employees :	22000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (58)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 5400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a Sakal Group Company. It is a well established and a reputed publisher of Sakal Newspapers. Latest financial ie. 2011-12 of the company are missing from the government department. From the financial of 2010-11 it has been seen that there appears a dip in the profitability of the company. However, financial position of the company is good. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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.

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Bank Facilities = A-
Rating Explanation	Adequate degree of safety. It carry low credit risk
Date	05.09.2012

Rating Agency Name	CARE
Rating	Short Term Facilities = A1
Rating Explanation	Very strong degree of safety. It carry lowest credit risk
Date	05.09.2012

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.

INFORMATION PARTED BY

Name :	Mr. Mandar Vidwans
Designation :	Accounts Manager
Contact No.:	91-22-66843000

LOCATIONS

Registered Office/ Editorial Sales/ Sakaal Social Foundation / Head Office :	595, Budhwar Peth, Pune – 411 002, Maharashtra, India
Tel. No.:	91-20-24455500 / 24455501 / 24455588 / 24455500 / 24405500
Mobile No.:	91-9890652842 (Mr. Pradip M. Namjoshi)
Fax No.:	91-20-24450583
E-Mail :	sakal@giaspnol.vsnl.net.in corporate@esakal.com sakal@giaspn01.vsnl.net.in mandar.videans@esakal.com
Website :	http://www.esakal.com http://www.sakaal.in
Administration Office :	154, Jerbai Wadia Road, Behind Tata Hospital, Parel, Mumbai – 400012, Maharashtra, India.
Tel. No.:	91-22-24158104 / 24160986
Fax No.:	91-22-24186984
Factory :	Located At : · Mumbai · Kolhapur · Nashik · Marathwada (Aurangabad) · Solapur · Nagpur · Satara · Goa

DIRECTORS

As on 18.08.2012

Name :

Mr. Pratap Govind Pawar

Designation :

Chairman cum Managing Director

Address :

S No. 73, Behind Shroff Suryash Building, Baner, Pune- 411045, Maharashtra, India.

Date of Birth/Age :

15.10.1944

Qualification :

Graduate

Date of Appointment :

24.05.2008

DIN No.:

00018985

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	U22121PN1948PTC006177	SAKAL PAPERS PRIVATE LIMITED	Director	24/05/2008	21/09/1985	-	Active	NO
2	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY	Director	19/09/1990	19/09/1990	-	Active	NO
3	U63033PN1995PTC085824	INTERNATIONAL CONVENTIONS INDIA PRIVATE LIMITED	Director	16/03/2007	22/02/1995	-	Strike off	NO
4	L29112PN1978PLC088972	KIRLOSKAR INDUSTRIES LIMITED	Director	01/03/1996	01/03/1996	30/03/2010	Active	NO
5	U27104MH1974PTC017447	UNITED METACHEM PRIVATE LIMITED	Director	15/04/1996	15/04/1996	06/12/2011	Active	NO
6	U51398PN1996PTC100030	KARHA INFRASTRUCTURE PRIVATE LIMITED	Director	05/06/1996	05/06/1996	26/12/2011	Active	NO
7	U65929MH1985PTC035452	PANHALA INVESTMENT PRIVATE LIMITED	Director	20/12/1996	20/12/1996	-	Active	NO
8	U72200PN1997PLC112531	ABHIJIT PAWAR MEDIA LIMITED	Director	18/12/1997	18/12/1997	-	Active	NO
9	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Director	09/09/1998	09/09/1998	-	Active	NO
10	U24231MH1973PTC016721	ASK CHEMICALS FOUNDRY SOLUTION INDIA PRIVATE LIMITED	Director	09/11/2011	01/10/1999	-	Active	NO
11	U65993PN1981PLC025916	P P HOLDINGS LIMITED	Director	03/10/2001	03/10/2001	-	Active	NO
12	L25209PN1961PLC012046	BHARAT FORGE LTD	Director	24/05/2005	24/05/2005	-	Active	NO
13	L34102PN1958PLC011172	FORCE MOTORS LIMITED	Director	30/09/2006	30/09/2006	-	Active	NO
14	U01122PN2007PTC131132	RAJGADH AGRO FARMS PRIVATE LIMITED	Director	14/12/2007	14/12/2007	-	Active	NO
15	U01122PN2007PTC131131	PASLE AGRO FARMS PRIVATE LIMITED	Director	14/12/2007	14/12/2007	-	Active	NO
16	U70102PN2007PTC131142	KARHA DEVELOPERS AND MINERS PRIVATE LIMITED	Director	17/12/2007	17/12/2007	-	Active	NO
17	U45202PN2008PTC131391	BHIMTHADI DEVELOPERS AND MINERS PRIVATE LIMITED	Director	07/02/2008	07/02/2008	-	Active	NO
18	U26940MH1987PLC043640	YOG INDUSTRIES LIMITED	Additional director	19/09/2008	19/09/2008	25/05/2009	Active	NO
19	L29120PN2009PLC133351	KIRLOSKAR OIL ENGINES LIMITED	Director	09/07/2010	30/03/2010	-	Active	NO
20	U28999MH1969PTC014265	OJAS ENGINEERING PRIVATE LIMITED	Director	30/09/2011	20/06/2011	-	Active	NO
21	U65993PN1981PTC025915	A P HOLDINGS PRIVATE LIMITED	Whole-time director	29/09/2012	01/10/2011	-	Active	NO

Name :

Mr. Abhijit Pratap Pawar

Designation :

Managing Director

Address :

S No. 73, Behind Shroff Suryash Building, Baner, Pune- 411045, Maharashtra, India.

Date of Birth/Age :

17.02.1972

Qualification :

Graduate

Date of Appointment :

24.05.2008

DIN No.:

00018998

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	U74140PN1984PTC033686	OCTON INDIA PRIVATE LIMITED	Director	15/07/1995	15/07/1995	-	Active	NO
2	U85110MH1982PTC028444	YASHAD HOSPITAL PVT LTD	Director	02/01/1996	02/01/1996	-	Active	NO
3	U92111MH1983PTC030739	NAMRATTA FILM ENTERPRISE PRIVATE LIMITED	Director	02/01/1996	02/01/1996	15/02/2012	Active	NO
4	U65993PN1981PTC025915	A P HOLDINGS PRIVATE LIMITED	Director	12/02/1996	12/02/1996	-	Active	NO
5	U27104MH1974PTC017447	UNITED METACHEM PRIVATE LIMITED	Director	10/10/1996	10/10/1996	-	Active	NO
6	U28999MH1969PTC014265	OJAS ENGINEERING PRIVATE LIMITED	Director	10/10/1996	10/10/1996	-	Active	NO
7	U24231MH1973PTC016721	ASK CHEMICALS FOUNDRY SOLUTION INDIA PRIVATE LIMITED	Director	11/10/1996	11/10/1996	10/05/2008	Active	NO
8	U22121PN1948PTC006177	SAKAL PAPERS PRIVATE LIMITED	Managing director	24/05/2008	30/12/1996	-	Active	NO
9	U72200PN1997PLC112531	ABHIJIT PAWAR MEDIA LIMITED	Director	18/12/1997	18/12/1997	-	Active	NO
10	U74920PN1999PTC013631	DATTATRAYA SARASWATI LAXMI VENTURES PRIVATE LIMITED	Director	18/05/1999	18/05/1999	-	Active	NO
11	U51900MH1999PTC119311	DSL MARKETING PRIVATE LIMITED	Director	15/07/2001	15/07/2001	14/04/2008	Active	NO
12	U65993PN1981PLC025916	P P HOLDINGS LIMITED	Director	03/10/2001	03/10/2001	-	Active	NO
13	U45201PN2004PTC019040	ABJA DEVELOPERS PRIVATE LIMITED	Director	23/03/2004	23/03/2004	-	Active	NO
14	U91110PN2005NPL020305	YOUNG PRESIDENTS ORGANIZATION (PUNE CHAPTER)	Director	17/02/2005	17/02/2005	12/08/2011	Active	NO
15	U01122PN2006PTC129274	MRUNALINI AGRO FARMS PRIVATE LIMITED	Director	27/11/2006	27/11/2006	-	Active	NO
16	U92120PN2007PTC129574	NEO TELEVISION PRIVATE LIMITED	Director	07/02/2007	07/02/2007	-	Active	NO
17	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY	Director	19/09/2007	19/09/2007	-	Active	NO
18	U01122PN2007PTC131130	BHORDI AGRO FARMS PRIVATE LIMITED	Director	14/12/2007	14/12/2007	-	Active	NO
19	U70102PN2007PTC131142	KARHA DEVELOPERS AND MINERS PRIVATE LIMITED	Director	31/12/2008	24/12/2007	15/02/2012	Active	NO
20	U40108PN2007PTC129933	NEO STAR INFRAPROJECTS PRIVATE LIMITED	Director	30/09/2009	06/02/2009	-	Active	NO
21	U70101PN2009PTC135051	APP BUILDERS PRIVATE LIMITED	Director	26/11/2009	26/11/2009	-	Active	NO
22	U74900MH2009PTC197788	SAIENERGY ENVIRONMENTAL ENGINEERING PRIVATE LIMITED	Director	11/12/2009	11/12/2009	-	Active	NO
23	U74900MH2009PTC197840	SARATHISAKAL INFRASTRUCTURE PRIVATE LIMITED	Director	14/12/2009	14/12/2009	-	Active	NO
24	U74999MH2009PTC197839	SAISAKAL INFRASTRUCTURE PRIVATE LIMITED	Director	14/12/2009	14/12/2009	-	Active	NO
25	U74900MH2009PTC197867	SAAMSAKAL INFRASTRUCTURE PRIVATE LIMITED	Director	15/12/2009	15/12/2009	-	Active	NO
26	U74990MH2009PTC197938	SAISAKAL AVIATION PRIVATE LIMITED	Director	17/12/2009	17/12/2009	-	Active	NO
27	U74900MH2009PLC197991	SONASAKAL INFRASTRUCTURE LIMITED	Director	18/12/2009	18/12/2009	-	Active	NO
28	U74999MH2009PLC197981	SHRISAKAL INFRASTRUCTURE LIMITED	Director	18/12/2009	18/12/2009	-	Active	NO
29	U74999MH2009PLC197978	STARSAKAL INFRASTRUCTURE LIMITED	Director	18/12/2009	18/12/2009	-	Active	NO
30	U74900MH2009PLC198037	SHUBHSAKAL INFRASTRUCTURE LIMITED	Director	22/12/2009	22/12/2009	-	Active	NO
31	U74900MH2009PLC198077	SUNSAKAL INFRASTRUCTURE LIMITED	Director	23/12/2009	23/12/2009	-	Active	NO
32	U74999MH2009PLC198137	SAINATHSAKAL INFRASTRUCTURE LIMITED	Director	25/12/2009	25/12/2009	-	Active	NO
33	U74900MH2010PLC198538	SURYASAKAL INFRASTRUCTURE LIMITED	Director	05/01/2010	05/01/2010	-	Active	NO
34	U99999MH1994NPL076530	MEDIA RESEARCH USERS COUNCIL	Director	18/05/2011	18/05/2011	-	Active	NO
35	U22219PN2011PTC139749	ZERO AND ONE MEDIA PRIVATE LIMITED	Director	03/06/2011	03/06/2011	-	Active	NO
36	U91990MH2011NPL225012	YPO WPO SOUTH ASIA CHAPTER	Director	16/12/2011	16/12/2011	-	Active	NO

Name :

Mrs. Mrunalini Abhijit Pawar

Designation :

Director

Address :

S No. 73, Behind Shroff Suryash Building, Baner, Pune- 411045, Maharashtra, India.

Date of Birth/Age :

22.10.1976

Date of Appointment :

20.09.2008

DIN No.:

00025225

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	U63023PN1990PTC057063	STAMFORD WAREHOUSING AND DEVELOPERS PRIVATE LIMITED	Director	03/02/2000	03/02/2000	-	Active	NO
2	U65993PN1981PTC025915	A P HOLDINGS PRIVATE LIMITED	Director	25/09/2009	01/12/2003	-	Active	NO
3	U01122PN2006PTC129274	MRUNALINI AGRO FARMS PRIVATE LIMITED	Director	27/11/2006	27/11/2006	-	Active	NO
4	U01116PN2006PTC129275	PAWAR AGRO TECH PRIVATE LIMITED	Director	05/12/2006	05/12/2006	-	Active	NO
5	U01122PN2007PTC129407	JANHVI AGRO TECH PRIVATE LIMITED	Director	04/01/2007	04/01/2007	-	Active	NO
6	U92120PN2007PTC129574	NEO TELEVISION PRIVATE LIMITED	Director	07/02/2007	07/02/2007	-	Active	NO
7	U01122PN2007PTC131111	PURANDHAR AGRO FARMS PRIVATE LIMITED	Director	13/12/2007	13/12/2007	20/10/2008	Active	NO
8	U01122PN2007PTC131130	BHORDI AGRO FARMS PRIVATE LIMITED	Director	14/12/2007	14/12/2007	-	Active	NO
9	U01122PN2007PTC131164	VELLA AGRO FARMS PRIVATE LIMITED	Director	27/12/2007	27/12/2007	-	Active	NO
10	U22121PN1948PTC006177	SAKAL PAPERS PRIVATE LIMITED	Director	20/09/2008	24/05/2008	-	Active	NO
11	U74900MH2009PTC197788	SAIENERGY ENVIRONMENTAL ENGINEERING PRIVATE LIMITED	Director	11/12/2009	11/12/2009	-	Active	NO
12	U74900MH2009PTC197840	SARATHISAKAL INFRASTRUCTURE PRIVATE LIMITED	Director	14/12/2009	14/12/2009	-	Active	NO
13	U74999MH2009PTC197839	SAISAKAL INFRASTRUCTURE PRIVATE LIMITED	Director	14/12/2009	14/12/2009	-	Active	NO
14	U74900MH2009PTC197867	SAAMSAKAL INFRASTRUCTURE PRIVATE LIMITED	Director	15/12/2009	15/12/2009	-	Active	NO
15	U74990MH2009PTC197938	SAISAKAL AVIATION PRIVATE LIMITED	Director	17/12/2009	17/12/2009	-	Active	NO
16	U74900MH2009PLC197991	SONASAKAL INFRASTRUCTURE LIMITED	Director	18/12/2009	18/12/2009	-	Active	NO
17	U74999MH2009PLC197981	SHRISAKAL INFRASTRUCTURE LIMITED	Director	18/12/2009	18/12/2009	-	Active	NO
18	U74999MH2009PLC197978	STARSAKAL INFRASTRUCTURE LIMITED	Director	18/12/2009	18/12/2009	-	Active	NO
19	U74900MH2009PLC198037	SHUBHSAKAL INFRASTRUCTURE LIMITED	Director	22/12/2009	22/12/2009	-	Active	NO
20	U74900MH2009PLC198077	SUNSAKAL INFRASTRUCTURE LIMITED	Director	23/12/2009	23/12/2009	-	Active	NO
21	U74999MH2009PLC198137	SAINATHSAKAL INFRASTRUCTURE LIMITED	Director	25/12/2009	25/12/2009	-	Active	NO
22	U74900MH2010PLC198538	SURYASAKAL INFRASTRUCTURE LIMITED	Director	05/01/2010	05/01/2010	-	Active	NO

Name :

Mr. Shrikrishna Narhar Inamdar

Designation :

Director

Address :

2A, Ameya Apartment, Near Kirti College 1193 B Kashi Dhuru Marg, Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

06.05.1945

Date of Appointment :

22.06.2005

DIN No.:

00025180

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	L40108PN1981PLC024153	FINOLEX INDUSTRIES LIMITED	Director	22/03/1989	22/03/1989	-	Active	NO
2	L29113PN1920PLC000670	KIRLOSKAR BROTHERS LIMITED	Director	01/08/1989	01/08/1989	-	Active	NO
3	L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	Director	02/08/1989	02/08/1989	-	Active	NO
4	L29130MH1976PLC019147	KULKARNI POWER TOOLS LIMITED	Director	27/01/2010	27/11/1992	-	Active	NO
5	L27101PN1991PLC063223	KIRLOSKAR FERROUS INDUSTRIES LIMITED	Director	19/03/1993	19/03/1993	-	Active	NO
6	L15421PN1939PLC006738	THE UGAR SUGAR WORKS LIMITED	Director	21/03/1997	21/03/1997	-	Active	NO
7	U55102PN1964PLC012985	PIH FINVEST COMPANY LIMITED	Director	30/09/2000	30/09/2000	30/03/2008	Active	NO
8	U31102MH1965PLC013362	KIRLOSKAR PROPRIETARY LIMITED	Director	23/06/2004	23/06/2004	-	Active	NO
9	U22121PN1948PTC006177	SAKAL PAPERS PRIVATE LIMITED	Director	22/06/2005	22/06/2005	-	Active	NO
10	L34102PN1958PLC011172	FORCE MOTORS LIMITED	Director	27/09/2005	27/09/2005	16/04/2012	Active	NO
11	U45203PN2007PLC129575	FINOLEX INFRASTRUCTURE LIMITED	Director	07/02/2007	07/02/2007	-	Active	NO
12	L29112PN1978PLC088972	KIRLOSKAR INDUSTRIES LIMITED	Director	28/07/2010	30/03/2010	-	Active	NO
13	L21012TZ2005PLC012260	SERVALAKSHMI PAPER LIMITED	Director	07/06/2010	31/03/2010	06/08/2012	Active	NO
14	U85110MH1994PLC082432	APPLE HOSPITALS AND RESEARCH INSTITUTE LIMITED	Director	17/09/2011	25/06/2011	-	Active	NO

Name :

Mr. Raghunath Anant Mashelkar

Designation :

Director

Address :

Raghunath, D/ 4, Varsha Path, Aundh, Pune – 411 045, Maharashtra, India

Date of Birth/Age :

01.01.1943

Date of Appointment :

20.09.2008

DIN No.:

00074119

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	U92190AP1998NPL029821	IKP KNOWLEDGE PARK	Director	14/01/1999	14/01/1999	-	Active	NO
2	U72900MH2001NPL133410	MEDIA LAB ASIA	Director	20/12/2003	20/12/2003	17/12/2007	Active	NO
3	L17110MH1973PLC019786	RELIANCE INDUSTRIES LIMITED	Director	12/10/2007	09/06/2007	-	Active	NO
4	L28920MH1945PLC004520	TATA MOTORS LIMITED	Director	24/07/2008	28/08/2007	-	Active	NO
5	L29299PN1980PLC022787	THERMAX LIMITED	Director	22/07/2008	29/01/2008	-	Active	NO
6	L73100MH2001PLC132523	PIRAMAL LIFE SCIENCES LIMITED	Director	26/02/2008	26/02/2008	02/02/2012	Active	NO
7	L15140MH1933PLC002030	HINDUSTAN UNILEVER LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO
8	L72200PN1990PLC059594	KPIT CUMMINS INFOSYSTEMS LIMITED	Director	29/08/2008	30/05/2008	-	Active	NO
9	U22121PN1948PTC006177	SAKAL PAPERS PRIVATE LIMITED	Director	20/09/2008	13/08/2008	-	Active	NO
10	U73100AP2009NPL063074	IKP CENTRE FOR TECHNOLOGIES IN PUBLIC HEALTH	Director	16/09/2010	07/09/2009	-	Active	NO
11	U85300PN2008NPL132108	INTERNATIONAL LONGEVITY CENTRE- INDIA	Director	30/09/2009	30/09/2009	-	Active	NO
12	U74210MH1977GAT019689	GHARDA SCIENTIFIC RESEARCH FOUNDATION	Director	29/07/2010	29/07/2010	-	Active	NO
13	U33110DL2010PTC207299	VYOME BIOSCIENCES PRIVATE LIMITED	Director	03/11/2010	03/11/2010	-	Active	NO
14	U85100MH1991GAT061430	GHARDA MEDICAL AND ADVANCED TECHNOLOGIES FOUNDATION	Additional director	10/11/2011	10/11/2011	-	Active	NO
15	L24110MH1947PLC005719	PIRAMAL ENTERPRISES LIMITED	Director appointed in casual vacancy	21/12/2011	21/12/2011	-	Active	NO

Name :

Mr. Bhalchandra Vasudeo Tambe

Designation :

Director

Address :

Atmastulan Village, Near MIDC, Karla – 410405, Maharashtra, India

Date of Birth/Age :

28.06.1940

Date of Appointment :

20.09.2008

DIN No.:

01121122

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	U55101MH1981PTC025637	ATMA SANTULANA VILLAGE PRIVATE LIMITED	Managing director	13/11/1981	13/11/1981	-	Active	NO
2	U72200PN1995PTC091093	SANTULAN PROJECTS PRIVATE LIMITED	Director	27/07/1995	27/07/1995	-	Active	NO
3	U24233PN1994PTC078848	SANTULAN AYURVEDA PRIVATE LIMITED	Managing director	01/04/1998	01/04/1998	-	Active	NO
4	U51909PN2004PTC019278	SANTULAN IMPEX PRIVATE LIMITED	Director	18/05/2004	18/05/2004	-	Active	NO
5	U22121PN1948PTC006177	SAKAL PAPERS PRIVATE LIMITED	Director	20/09/2008	13/08/2008	-	Active	NO
6	U93090PN2011PTC138281	BALAJI TAMBE HEALTH CARE PRIVATE LIMITED	Director	17/01/2011	17/01/2011	-	Active	NO

Name :

Mrs. Supriya Sadanand Sule

Designation :

Director

Address :

House No. 2, First Floor, Silver Oak Estate, Bhulabai Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

30.06.1969

Date of Appointment :

30.12.1996

DIN No.:

00622228

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	U65990MH1994PTC077431	RADIANT TRADEVEST PRIVATE LIMITED	Director	22/10/1996	22/10/1996	-	Active	NO
2	U22121PN1948PTC006177	SAKAL PAPERS PRIVATE LIMITED	Director	30/12/1996	30/12/1996	-	Active	NO
3	U80302MH1999PTC119402	VISION-IT EDUCATION INDIA PRIVATE LIMITED	Director	13/04/1999	13/04/1999	-	Active	NO
4	U63043MH1999PTC120794	TRAVEL MASTERS (MUMBAI) PRIVATE LIMITED	Director	14/07/1999	14/07/1999	-	Active	NO
5	U70100MH2003PTC139307	VRS DEVELOPERS PRIVATE LIMITED	Director	21/02/2003	21/02/2003	24/01/2011	Active	NO
6	U74140DL2004NPL125424	CENTRE FOR INTERNATIONAL TRADE IN AGRICULTURE AND AGRO BASED INDUSTRIES	Director	30/09/2008	03/04/2008	-	Active	NO
7	U85300MH2008NPL185280	RVS EDUCATIONAL AND CHARITABLE FOUNDATION	Director	31/07/2008	31/07/2008	-	Active	NO
8	U80901MH2008NPL188611	YASHASWINI SAMAJIK ABHIYAAN	Director	03/12/2008	03/12/2008	-	Active	NO
9	U63090MH2010PTC208719	TM HOLIDAYS PRIVATE LIMITED	Director	07/10/2010	07/10/2010	-	Active	NO

Name :

Ms. Lila Claude Parulekar

Designation :

Whole Time Director

Address :

4-A Queens Garden, Pune – 411001, Maharashtra, India

Date of Birth/Age :

31.01.1936

Date of Appointment :

06.09.1977

DIN No.:

02368528

KEY EXECUTIVES

Name :	Mr. Mandar Vidwans
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 18.08.2012

Names of Shareholders	No. of Shares
Pratap Govind Pawar	200
Yashad Hospital Private Limited, India	10904
APP Media Private Limited, India	23996
Pratap Govind Pawar Joint with APP Media Private Limited, India	200
Panhala Investment Private Limited, India	20000
Temblai Investment Private Limited, India	15104
Chandrashekhar Hari Joshi	42
Abhijit Pratap Pawar	16735
Total	87181

Equity Share Break up (Percentage of Total Equity)

As on 18.08.2012

Category	Percentage
Bodies corporate	80.30
Directors or relatives of Directors	19.65
Other top fifty shareholders	0.05
Total	100.00

BUSINESS DETAILS

Line of Business :

Printing and Publishing of News Papers and Multimedia Activities.

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Licensed Capacity
Electricity	0.92 MW

Particulars	Installed Capacity
Wind Turbine Generator	230 KW/Unit

Particulars	Actual Production
News Paper – Numbers of Copies Generated	5833.90 Lacs
Wind Mills Electricity - Units Generated	17.67 kwh

GENERAL INFORMATION

No. of Employees :

2200 (Approximately)

Bankers :

· Bank of Maharashtra, Corporate Finance Branch, Yashomangal, 1183/1, F.C. Road, Pune - 411005, Maharashtra, India

· Cosmos Co-operative Bank Limited, 269/270, Shaniwar Peth, Pune-411 007, Maharashtra, India

· IDBI Bank

· State Bank of India

Facilities :

Cash Credit Rs.500.000 Millions and TL Rs.163.400 Millions

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans others secured	764.926	623.825
Working capital loans others secured	188.226	109.233
Total	953.152	733.058
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Public deposits unsecured	0.000	6.494
Fixed deposits unsecured	0.000	18.744
Total	0.000	25.238

Banking Relations :	--
Auditors :
Name :	G. M. Oka and Company Chartered Accountants
Address :	32, Swapna Nagri, Karve Road, Pune – 411004, Maharashtra, India
Tel. No.:	91-20-30287900/ 30287500
Fax No.:	91-20-25440143
E-Mail :	gmoka@vsnl.com
PAN.:	AABFG1894M
Enterprises over which any person described in (1) above and other directors and their relatives are able to exercise significant influence :	· ASK Chemicals Foundry Solution India Private Limited · United Metachem Private Limited · Ojas Engineering Private Limited · Magneco Metachem Private Limited · Modular Finance and Consultancy Private Limited · Panhala Investments Private Limited · Temblai Investments Private Limited · Gomantak Private Limited · Gomantak Foods Private Limited · Wikas Electrical and Ceramic Products Private Limited · P. Holdings Private Limited · Stamford Warehousing and Developers Private Limited · D.S.L. Ventures Private Limited · Octon India Private Limited · Abhijit Pawar Media Limited · Obelix Consultancy and Trading Private Limited · Yashad Hospitals Private Limited · Namratta Film Enterprises Private Limited · Supriya Holdings Private Limited · Lap Finance and Consultancy Private Limited · P.P. Holdings Limited · Neo Television Limited

CAPITAL STRUCTURE

As on 18.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.2/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
87181	Equity Shares	Rs.2/- each	Rs.0.174 Million

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
87181	Equity Shares	Rs.100/- each	Rs. 8.718 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		8.718	2.500	2.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1356.461	1294.980	1101.423
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1365.179	1297.480	1103.923
LOAN FUNDS
1] Secured Loans		953.152	733.058	1026.808
2] Unsecured Loans		0.000	25.238	20.166
TOTAL BORROWING		953.152	758.296	1046.974
DEFERRED TAX LIABILITIES		33.266	27.278	30.168
TOTAL		2351.597	2083.054	2181.065
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1697.418	1454.935	1570.560
Capital work-in-progress		36.209	27.677	40.146
INVESTMENT		26.274	26.274	26.274
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	294.756	207.490	216.111
	Sundry Debtors	702.904	643.060	527.287
	Cash & Bank Balances	270.903	286.400	275.898
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	208.044	156.130	212.431
Total Current Assets		1476.607	1293.080	1231.727
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	880.768	708.689	674.586
	Other Current Liabilities	4.143	7.225	12.954
	Provisions	0.000	2.998	0.102
Total Current Liabilities		884.911	718.912	687.642
Net Current Assets		591.696	574.168	544.085
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2351.597	2083.054	2181.065

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Circulation Income	842.217	828.758	720.258
		Advertisement Income	3121.796	2380.335	2249.707
		Other Operating Income	201.534	186.712	165.878
		Other Income	57.784	64.760	236.293
		TOTAL (A)	4223.331	3460.565	3372.136
Less	EXPENSES
		Material Consumption	2138.638	1406.443	1484.608
		Payment to and for employees	569.250	569.996	634.092
		Other Operating Expenses	1153.798	835.057	836.775
		TOTAL (B)	3861.686	2811.496	2955.475
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		361.645	649.069	416.661
Less	FINANCIAL EXPENSES (D)		100.562	97.221	114.972
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		261.083	551.848	301.689
Less/ Add	DEPRECIATION/ AMORTISATION (F)		184.188	207.428	211.612
	PROFIT BEFORE TAX (E-F) (G)		76.895	344.420	90.077
Less	TAX (H)		24.488	123.749	64.539
	PROFIT AFTER TAX (G-H) (I)		52.407	220.671	25.538
Add/ Less	Earlier Year Adjustments		9.074	(23.189)	(3.118)
Less	APPROPRIATIONS
		Provision for Dividend	0.000	2.500	0.000
		Provision for Tax on Dividend	0.000	0.425	0.000
		Transfer to General Reserve	0.000	21.700	0.000
	BALANCE CARRIED TO THE B/S		61.481	172.857	22.420
	IMPORTS
	Newsprint		557.360	307.067	NA
	Spare parts, blankets etc.		0.219	1.009	NA
	Capital Goods		5.449	0.643	NA
	TOTAL IMPORTS		563.028	308.719	NA
	Earnings Per Share (Rs.)		601.13	0.09	0.01

Particulars	31.03.2012
Sales Turnover (Approximately)	4570.000

Expected Sales (2012-13) : Rs.4750.000 Millions

The above information has been parted by Mr. Mandar Vidwans

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.24	6.38	0.76
Net Profit Margin (PBT/Sales)	(%)	1.94	10.73	3.03
Return on Total Assets (PBT/Total Assets}	(%)	2.42	12.53	3.21
Return on Investment (ROI) (PBT/Networth)		0.06	0.27	0.08
Debt Equity Ratio (Total Liability/Networth)		1.37	1.14	1.57
Current Ratio (Current Asset/Current Liability)		1.67	1.80	1.79

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

SUMMARY OF FINANCIAL PERFORMANCE:

The Income from circulation increased to Rs. 842.217 Millions as compared to Rs. 828.758 Millions of the previous year. Advertising income saw a healthy increase to Rs. 3121.796 Millions in 2010-11 as compared to Rs. 2380.335 Millions in 2009-10. On the expenses side, despite the fact that the Company implemented effective cost control initiatives, the price of newsprint has taken its toll. This year, the cost of newsprint has overshadowed all the cost saving initiatives of the Company. The overall material costs totaled to Rs. 2138.638 Millions in 2010-11 as compared to Rs. 1406.443 Millions in 2009-10 registering increase of 52%. The operating expenses also rose to Rs. 1153.798 Millions as compared to Rs. 835.057 Millions in the previous year, the large contributor of this being the advertisement air time purchased. Thus the total expenditure in 2010-11 was Rs. 4140.000 Millions as compared to Rs. 3120.000 Millions in the previous year. The Profit before tax, but after considering interest cost and depreciation stands at Rs. 76.895 Millions in 2010-11 as compared to Rs. 344.420 Millions in the previous year. After making provision for tax, the profit after tax is Rs. 52.407 Millions in 2010-11 as compared to Rs. 220.671 Millions in 2009-10. In view of sharp fall in profits, the Board has not recommended any dividend this year.

CONTINGENT LIABILITIES (As on 31.03.2011)

a. Letter of Credit issued outstanding as on the Balance Sheet date Rs. 64.300 Millions (Previous year Rs. 90.200 Millions)

b. Claims against company include defamation cases filed and are pending and not acknowledged as debts as on the Balance Sheet date Rs.2750.000 Millions (Previous Year Rs. 217.900 Millions)

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U22121PN1948PTC006177
Name of the company	SAKAL PAPERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	595, Budhwar Peth, Pune – 411 002, Maharashtra, India E-mail: corporate@esakal.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90084694
Type of charge	· Immovable property · Any interest in immovable property · Book debts · Movable property (not being pledge)
Particular of charge holder	Bank of Maharashtra Corporate Finance Branch, ‘Yashomangal’, 1183/1, F.C. Road, Pune-411005, Maharashtra, India E-mail: bom941@mahabank.co.in
Nature of instrument creating charge	Supplemental memorandum of record of modifications of joint equitable mortgage.
Date of instrument Creating the charge	28.06.2012
Amount secured by the charge	Rs. 2329.061 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Unaltered. Terms of Repayment Unaltered. Margin Unaltered. Extent and Operation of the charge First pari passu charge on term loans and second pari passu charge on working capital limits. Total limits- BOM- Rs. 966.607 millions - (WCL-Rs.575.000 millions + TL O/S. Balance- 391.607 millions); IDBI Bank- Rs. 804.976 millions -(WCL- Rs.20.000 millions + TL O/S. BALANCE-Rs. 784.976 millions); Cosmos Bank- Rs.322.478 millions (WCL-Rs.180.000 millions + TL O/S. Balance- Rs.142.478 millions); SBI-Rs. 235.000 millions (WCL); TOTAL- Rs. 2329.061 millions
Short particulars of the property charged	Additional mortgage charge on land at Plot No. L-14, Taloja Industrial Area, Village Pale Khurd, Sub District Panvel, District Raigad together with buildings/structures thereon and all fixed plants and machineries thereon. Existing mortgage and hypothecation- unaltered.
Particulars of the present modification	An additional mortgage charge on property at Plot No. L-14, Taloja Industrial Area, Village Pale Khurd, Sub District Panvel, District Raigad is provided to cater limits of Rs. 2329.061 millions

FIXED ASSETS: 

• Land
• Leasehold Land
• Buildings
• Plant and Machinery
• Furniture and Fixtures
• Motors Cars and Vehicles
• Office Equipments
• Intangible Assets

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 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.54.97
UK Pound	1	Rs.87.50
Euro	1	Rs.70.16

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	6
--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		58

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.