MIRA INFORM REPORT

Report Date :

16.10.2012

IDENTIFICATION DETAILS

Name :	UNIQUE GLOBAL LOGISTICS PRIVATE LIMITED
Registered Office :	201/202, Lok Bhavan, Lok Bharati Complex Marol Maroshi Road, Marol, Andheri (E), Mumbai – 400059, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.05.2008
Com. Reg. No.:	55-182066
Capital Investment / Paid-up Capital :	Rs. 20.000 Millions
CIN No.: [Company Identification No.]	U63011MH2008PTC182066
TAN No.: [Tax Deduction & Collection Account No.]	MUMU05510B
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Freight Forwarding and Logistics Services
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 400000
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 – 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 :	201/202, Lok Bhavan, Lok Bharati Complex Marol Maroshi Road, Marol, Andheri (E), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-67395400
Fax No.:	91-22-67395401
E-Mail :	sunil.murarka@uniqueglobal.com pavithran.m@uniqueglobal.in
Web Site :	www.uniqueglobal.com
Branches Located at :	Chennai Address: New No. 39, Old No. 18, First Floor, Linghi Chetty Street, Chennai – 600001, India Tel No. 91-44-45564153 Fax No. 91-44-45564143 Email : sujith.k@uniqueglobal.in Cochin Address: Handicrafts Building, Plot No. 27 B Cat III, Indira Gandhi Road, Willingdon Island, Cochin – 682003, India Mobile No :91-9846153511 Email : kochin@uniqueglobal.in Kakinada Address: D.No. 16-34-26, 1^St Floor, West Block, Jonnada Abbai Plaza, Road No. 2, Sambhamurthy Nagar, Kakinada – 533001, India Mobile No :91-9642799993 Tel/Fax : 91-884-2356993 Email : kakinada@uniqueglobal.in Delhi Address: 91/8, 3^rd Floor, Kapeshera Main Bijwasan Road, New Delhi – 37, India Tel No. 91-11-46564778/46564782 Email : delhi@uniqueglobal.in

DIRECTORS

As on: 29.09.2011

Name :

Mr. Naveen Surana

Designation :

Director

Address :

D 402, Lloyds Estate, Sangam Nagar, Wadala(E), Mumbai – 400031, Maharashtra, India

Date of Birth/Age :

22.06.1975

Date of Appointment :

05.06.2009

DIN No.:

00527588

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	U60300MH1976PTC019297	BABAJI SHIVRAM CLEARING AND CARRIERS PRIVATE LIMITED	Director	01-07-06	01-07-06	13-09-08	Active	NO
2	U63011MH2008PTC182066	UNIQUE GLOBAL LOGISTICS PRIVATE LIMITED	Director	05-06-09	05-06-09	-	Active	NO
3	U63090TN1991PTC020699	FREIGHT FIELD (MADRAS) PRIVATE LIMITED	Managing director	11-01-10	11-01-10	-	Active	NO

Name :

Mr. Pavithran Mavila Thazhekallada

Designation :

Managing director

Address :

B-106, Girdhar Park CHS, Mithi Chiwki Malad (West) Mumbai – 400064, Maharashtra, India

Date of Birth :

21.04.1971

Date of Appointment :

19.05.2008

DIN No.:

02202450

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	U63011MH2008PTC182066	UNIQUE GLOBAL LOGISTICS PRIVATE LIMITED	Managing director	19-05-08	19-05-08	-	Active	NO
2	U63000MH2010PTC200206	BDP GLOBAL LOGISTICS (INDIA) PRIVATE LIMITED	Director	18-02-10	18-02-10	-	Active	NO

Name :

Mr. Lalit Kumar Brijnarain Seth

Designation :

Director

Address :

601, Felicia, Sherly Road, Bandra (w), Mumbai, Maharashtra, India

Date of Birth :

12.09.1954

Date of Appointment :

09.05.2008

DIN No.:

00313204

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	U74990MH1986PTC038990	NETWORK COURIERS PRIVATE LIMITED	Director	19-02-86	19-02-86	-	Active	NO
2	U63010MH1992PTC064729	EASTERN CARGO CARRIERS (INDIA) P LIMITED	Whole-time director	06-01-92	06-01-92	-	Active	NO
3	U63013MH2003PTC141831	NETWORK ALLIED AVIATION PRIVATE LIMITED	Director	22-08-03	22-08-03	-	Strike off	NO
4	U63013MH2005PTC154082	ALLIED AVIATION INTERNATIONAL PRIVATE LIMITED	Director	20-06-05	20-06-05	-	Active	NO
5	U63000MH2005PTC155889	SUPER SKIES AVIATION PRIVATE LIMITED	Director	05-09-05	05-09-05	-	Active	NO
6	U63013MH1970GAP014685	THE AIR CARGO AGENTS ASSOCIATION OF INDIA	Director	29-09-05	29-09-05	-	Active	NO
7	U63013MH2006PTC165413	ROUND THE CLOCK LOGISTICS PRIVATE LIMITED	Director	08-11-06	08-11-06	28-03-12	Active	NO
8	U63011MH2008PTC182066	UNIQUE GLOBAL LOGISTICS PRIVATE LIMITED	Director	09-05-08	09-05-08	-	Active	NO
9	U85100MH2009PTC191554	AROGYAM TPA SERVICES PRIVATE LIMITED	Director	07-04-09	07-04-09	29-07-09	Active	NO
10	U63090MH2010PTC209909	LANS PROJECTS LOGISTICS PRIVATE LIMITED	Director	09-11-10	09-11-10	-	Active	NO
11	U63000MH2010PTC209926	EGL SUPPLYCHAIN PRIVATE LIMITED	Director	10-11-10	10-11-10	-	Active	NO
12	U63000MH2012PTC230183	PROCET FREIGHT (INDIA) PRIVATE LIMITED	Director	24-04-12	24-04-12	-	Active	NO

Name :

Mr. Alok Kumar Brijnarain Seth

Designation :

Director

Address :

601, Felicia, Sherly Road, Bandra (w), Mumbai, Maharashtra, India

Date of Birth :

30.12.1960

Date of Appointment :

09.05.2008

DIN No.:

00241149

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	U74990MH1986PTC038990	NETWORK COURIERS PRIVATE LIMITED	Director	21-01-88	21-01-88	-	Active	NO
2	U63010MH1992PTC064729	EASTERN CARGO CARRIERS (INDIA) P LTD	Whole-time director	06-01-92	06-01-92	-	Active	NO
3	U63013MH2003PTC141831	NETWORK ALLIED AVIATION PRIVATE LIMITED	Director	22-08-03	22-08-03	-	Strike off	NO
4	U63013MH2005PTC154082	ALLIED AVIATION INTERNATIONAL PRIVATE LIMITED	Director	20-06-05	20-06-05	-	Active	NO
5	U63000MH2005PTC155889	SUPER SKIES AVIATION PRIVATE LIMITED	Director	05-09-05	05-09-05	-	Active	NO
6	U63013MH2006PTC165413	ROUND THE CLOCK LOGISTICS PRIVATE LIMITED	Director	08-11-06	08-11-06	28-03-12	Active	NO
7	U63011MH2008PTC182066	UNIQUE GLOBAL LOGISTICS PRIVATE LIMITED	Director	09-05-08	09-05-08	-	Active	NO
8	U63090MH2010PTC209909	LANS PROJECTS LOGISTICS PRIVATE LIMITED	Director	09-11-10	09-11-10	-	Active	NO
9	U63000MH2010PTC209926	EGL SUPPLYCHAIN PRIVATE LIMITED	Director	10-11-10	10-11-10	-	Active	NO

Name :

Mr. Vinod Kumar Brijnarain Seth

Designation :

Director

Address :

401, Manish Sea Croft, S R Road, Bandra (w), Mumbai – 400050, Maharashtra, India

Date of Birth :

01.02.1953

Date of Appointment :

09.05.2008

DIN No.:

00407581

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	U74990MH1986PTC038990	NETWORK COURIERS PRIVATE LIMITED	Director	19-02-86	19-02-86	-	Active	NO
2	U63040MH1993PTC073570	ALLIED AVIATION PVT LTD	Managing director	28-08-93	28-08-93	-	Active	NO
3	U63013MH2003PTC141831	NETWORK ALLIED AVIATION PRIVATE LIMITED	Director	22-08-03	22-08-03	-	Strike off	NO
4	U63040MH2004PTC148154	CISMAT CARGO SERVICES PRIVATE LIMITED	Director	20-08-04	20-08-04	-	Active	NO
5	U62100MH2004PTC149138	SKYTEAM LOGISTIC PRIVATE LIMITED	Director	30-03-05	30-03-05	-	Active	NO
6	U63040MH2006PTC166421	KABIR TRAVELS PRIVATE LIMITED	Director	22-12-06	22-12-06	-	Active	NO
7	U63011MH2008PTC182066	UNIQUE GLOBAL LOGISTICS PRIVATE LIMITED	Director	09-05-08	09-05-08	-	Active	NO
8	U63000MH2010PTC200206	BDP GLOBAL LOGISTICS (INDIA) PRIVATE LIMITED	Director	18-02-10	18-02-10	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2011

Names of Shareholders	No. of Shares
Pavithran Mavila Thazhekallada	200000
Vinod Kumar Brijnarain Seth	700000
Lalit Kumar Brijnarain Seth	550000
Alok Kumar Brijnarain Seth	500000
Naveen Surana	50000
Total	2,000,000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Freight Forwarding and Logistics Services

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India

· ICICI Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
From ICICI Bank Limited Term Loan Secured by the Hypothecation of vehicle and guaranteed by one of the directors	0.125	0.481
From TATA Capital Limited Term Loan Secured by the Hypothecation of vehicle and guaranteed by one of the directors	0.411	0.531
Total	0.536	1.012
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Long Term Loans other than from directors and banks	20.000	20.000
Total	20.000	20.000

Banking Relations :	--
Auditors :
Name :	Lalit Khanna and Company Chartered Accountants
Address :	4th Floor, Commissionarate Building, 231, Dadabhai Naoroji Road, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-22617830/22023647/22044959
Fax No.:	91-22-22615464
E-Mail :	lalitkhannaco@vsnl.net
PAN No.:	AABFL3475D

CAPITAL STRUCTURE

As on: 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs.10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs.10/- each	Rs. 20.000 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		20.000	20.000	20.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		86.407	63.614	10.808
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		106.407	83.614	30.808
LOAN FUNDS
1] Secured Loans		0.536	1.012	1.439
2] Unsecured Loans		20.000	20.000	0.000
TOTAL BORROWING		20.536	21.012	1.439
DEFERRED TAX LIABILITIES		0.870	0.689	0.057
TOTAL		127.813	105.315	32.304
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		26.558	29.065	5.105
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		10.400	10.400	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	105.409	84.764	46.692
	Cash & Bank Balances	54.514	57.506	24.708
	Other Current Assets	0.000	0.000	0.210
	Loans & Advances	20.846	22.395	12.704
Total Current Assets		180.769	164.665	84.314
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	51.802	60.343
	Other Current Liabilities	2.854	18.239	52.447
	Provisions	35.433	20.433	4.893
Total Current Liabilities		90.089	99.015	57.340
Net Current Assets		90.680	65.650	26.974
MISCELLANEOUS EXPENSES		0.175	0.200	0.225
TOTAL		127.813	105.315	32.304

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		732.972	259.895
		Other Income		1.985	0.832
		TOTAL	932.700	734.957	260.727
Less	EXPENSES
		Freight, Clearing and Service cost for operations		591.394	217.322
		Other Expenses Including Interest and Depreciation		50.727	21.519
		TOTAL	845.866	642.121	238.841
	PROFIT BEFORE TAX		86.834	92.836	21.886
Less	TAX		29.096	31.633	7.775
	PROFIT AFTER TAX		57.738	61.203	14.111
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		56.014	9.358	-
Add	PROPOSED DIVIDEND IN RESPECT OF YEAR ENDED 31.03.2009 WRITTEN BACK AS APPROVED IN ANNUAL GENERAL BMEETING		--	2.823	-
Add	DIVIDEND TAX IN RESPECT OF ABOVE WRITTEN BACK		--	0.479	-
Add	EXCESS DIVIDEND TAX IN RESPECT OF PROPOSED DIVIDED FOR THE YEAR ENDED 31.03.2010 WRITTEN BACK		0.039	--	-
Less	APPROPRIATIONS
		Transfer to General Reserve	7.550	6.150	1.450
		Dividend	30.000	10.000	2.823
		Tax on Dividend	4.983	1.700	0.479
	BALANCE CARRIED TO THE B/S		71.258	56.013	9.359
	EARNINGS IN FOREIGN CURRENCY		256.427	419.672	127.944
	Earnings Per Share (Rs.)		28.87	30.60	7.06

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.19	8.33	5.41
Net Profit Margin (PBT/Sales)	(%)	NA	12.67	8.42
Return on Total Assets (PBT/Total Assets}	(%)	39.88	45.48	24.47
Return on Investment (ROI) (PBT/Networth)		0.82	1.11	0.71
Debt Equity Ratio (Total Liability/Networth)		1.04	1.43	1.91
Current Ratio (Current Asset/Current Liability)		2.01	1.66	1.47

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	No
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	No
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	No
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	No

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U63011MH2008PTC182066
Name of the company	UNIQUE GLOBAL LOGISTICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	201/202, Lok Bhavan, Lok Bharati Complex Marol Maroshi Road, Marol, Andheri (E), Mumbai – 400059, Maharashtra, India sunil.murarka@uniqueglobal.com
This form is for	Creation of charges
Type of charge	Book debts
Particular of charge holder	HDFC Bank Limited HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India
Nature of instrument creating charge	Hypothecation Of Book Debts For Cash Credit Facility For Rs.40.000 Millions From HDFC Bank Limited date 19.10.2011
Date of instrument Creating the charge	19.10.2011
Amount secured by the charge	Rs. 40.000 Millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of interest As Per Cash Credit Facility Sanction Letter From HDFC Bank Limited. Terms of repayments As Per Cash Credit Facility Sanction Letter From HDFC Bank Limited. Margin As Per Cash Credit Facility Sanction Letter From HDFC Bank Limited. Extent and operation of the charge First Exclusive charge on Book Debts of the company with Debtors Ageing up to 90days
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Book Debts of the Company at its Registered Office at 201, Lok Bhavan, Lok Bharti Complex, Marol Maroshi Road, Andheri (E), Mumbai 400059, Maharashtra, India

CONTINGENT LIABILITY

The company has given bank guarantees of Rs. 1.850 Millions (Previous Year Rs. 5.384 Millions) against tenders and contracts. Against the above corresponding amount are kept as fixed deposit with IDBI under lien

FIXED ASSESTS

· Office Premises

· Computers

· Office Equipments

· Electrical Fittings

· Furniture and Fixture

· Vehicles

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. 53.12
UK Pound	1	Rs. 85.15
Euro	1	Rs. 68.60

INFORMATION DETAILS

Report Prepared by :

UDS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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	-

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