MIRA INFORM REPORT

Report Date :

26.09.2012

IDENTIFICATION DETAILS

Name :	VIMAL MOULDERS (INDIA) PRIVATE LIMITED

Formerly Known As :	VIMAL MOULDERS (INDIA) LIMITED

Registered Office :	B-104/3, Naraina Industrial Area I, New Delhi-110028

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	10.11.1987

Com. Reg. No.:	55-29731

Capital Investment/ Paid-up Capital:	Rs.110.000 Millions

CIN No.: [Company Identification No.]	U74210DL1987PTC029731

TAN No.: [Tax Deduction & Collection Account No.]	DELV05091C / DELV04522A

PAN No.: [Permanent Account No.]	AAACV0697B

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of a wide range of components for Automotive, White goods, Electronics, Consumer durables, Information technology, Electrical, Medical equipment, Earth moving equipments and Plastic furniture

No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (39)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1489000

Status :	Moderate

Payment Behaviour :	Slow but Correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track. There appears sharp dip in the profitability of the company. However, trade relations are reported to be fair. Business is active. Payment are reported to be slow but correct. The company can be considered for business dealing with slight caution.

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

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/Corporate Office :	B-104/3, Naraina Industrial Area I, New Delhi-110028, Delhi, India
Tel. No.:	91-11-65491393 / 94
Fax No.:	91-11-25895276
E-Mail :	saurabhtaneja@vimalplastindia.com

Factory 1 :	17 and 18, Udyog Vihar, Phase IV, Gurgaon-122015, Haryana, India
Tel. No.:	91-124-2340132
Fax No.:	91-124-2340132

Factory 2 :	90-C, Sector-18, Gurgaon-122015, Haryana, India
Tel. No.:	91-124-4016175-176, 2340224
Fax No.:	91-124-4016177

Factory 3 :	Plot No.3B, Udyog Vihar, Grater Noida, Uttar Pradesh, India

Factory 4	Plot 111-112, Sector -7, Growht Centre, Bawal – 123501, Haryana, India

Factory 5	Plot 446 – Sector -8, IMT Manesar, Gurgaon Haryana, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Avnish Batra

Designation :

Chairman

Address :

FA-44, Shivaji Enclave, New Delhi-110027, Delhi, India

Date of Birth/Age :

22.01.1961

Date of Appointment :

10.11.1987

Din No.:

00005706

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	U74210DL1987PTC029731	VIMAL MOULDERS (INDIA) Private LIMITED	Managing director	10/11/1987	10/11/1987	-	Active	NO
2	U74999DL1994PTC058879	VIMAL INDUSTRIES PRIVATE LIMITED	Director	09/05/1994	09/05/1994	-	Active	NO
3	U65929DL1996PTC081477	ARJUN BUILDWELL PRIVATE LIMITED.	Director	27/08/1996	27/08/1996	-	Active	NO
4	U65921DL1996PTC082771	VIMAL AUTOPLAST PRIVATE LIMITED	Director	18/10/1996	18/10/1996	28/10/2009	Active	NO
5	U17121CH2006PTC030556	BHAWNA SYNTHETICS PRIVATE LIMITED	Additional director	03/11/2009	03/11/2009	-	Active	NO
6	U74899DL2006PTC144352	KUNVER REALTORS PRIVATE LIMITED	Additional director	10/02/2010	10/02/2010	-	Active	NO

Name :

Mr. Harish Batra

Designation :

Whole time Director

Address :

FA-43, Shivaji Enclave, New Delhi-110027, Delhi, India

Date of Birth/Age :

21.09.1954

Date of Appointment :

30.09.1992

Din No.:

00005727

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	U74210DL1987PTC029731	VIMAL MOULDERS (INDIA) Private LIMITED	Director	30/09/1992	30/09/1992	-	Active	NO
2	U74899DL1993PTC054426	VIMAL RESORTS (INDIA) PRIVATE LIMITED.	Director	13/07/1993	13/07/1993	-	Active	NO
3	U74999DL1994PTC058879	VIMAL INDUSTRIES PRIVATE LIMITED	Director	09/05/1994	09/05/1994	28/10/2009	Active	NO
4	U65921DL1996PTC082775	DOUBLE ESS ESTATES PRIVATE LIMITED	Director	18/10/1996	18/10/1996	-	Active	NO
5	U45207DL1996PTC083566	VIMAL PROJECTS PRIVATE LIMITED	Director	02/12/1996	02/12/1996	09/08/2007	Active	NO

Name :

Mrs. Kusum Batra

Designation :

Whole time Director

Address :

GB-12, Shivaji Enclave, New Delhi-110027, Delhi, India

Date of Birth/Age :

10.07.1959

Date of Appointment :

31.03.1999

Din No.:

00005768

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	U74899DL1993PTC054426	VIMAL RESORTS (INDIA) PRIVATE LIMITED.	Director	13/07/1993	13/07/1993	-	Active	NO
2	U65921DL1996PTC082771	VIMAL AUTOPLAST PRIVATE LIMITED	Director	18/10/1996	18/10/1996	-	Active	NO
3	U65921DL1996PTC082777	TRIPLE ESS INFRASTRUCTURE PRIVATE LIMITED	Director	18/10/1996	18/10/1996	-	Active	NO
4	U74210DL1987PTC029731	VIMAL MOULDERS (INDIA) Private LIMITED	Director	31/03/1999	31/03/1999	-	Active	NO
5	U70101DL2005PTC144274	K RISE REALTIES PRIVATE LIMITED	Director	30/12/2005	30/12/2005	-	Active	NO
6	U55101DL2006PTC151100	VIMAL MOTELS PRIVATE LIMITED	Director	17/07/2006	17/07/2006	-	Active	NO
7	U70109DL2006PTC151080	VIMAL BUILDTECH PRIVATE LIMITED	Director	17/07/2006	17/07/2006	-	Active	NO
8	U70109DL2006PTC151121	VIMAL SONS BUILDCON PRIVATE LIMITED	Director	19/07/2006	19/07/2006	26/10/2009	Active	NO
9	U55101DL2006PTC151518	KRB MOTELS PRIVATE LIMITED.	Director	02/08/2006	02/08/2006	-	Active	NO
10	U70109DL2006PTC151904	KRB REALTORS PRIVATE LIMITED.	Director	10/08/2006	10/08/2006	19/02/2007	Active	NO
11	U74140DL2011PTC225724	GORGEOUS BROWN BEAUTY PRODUCTS PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Saurabh Taneja
Designation :	Secretary
Address :	Flat No. 12, Ahirwad Apartments, I.P Extension, Delhi – 110092, India
Date of Birth/Age :	01.12.1985
Date of Appointment :	01.10.2010
Pan No.:	AEWPT5379K

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders		No. of Shares
Vimla Batra		832500
Vanish Batra		921750
Satish Batra		686825
Kusum Batra		619000
Harish Batra		743625
Anju Batra		832750
Sahil Batra		56250
Sourabh Batra		33750
Gourav Batra		526050
Sangeeta Batra		636000
K. R. Batra and Sons, India		150000
Satish Batra and Sons, India		70625
Harish Batra and Sons, India		236125
Avinish Batra and Sons, India		344750
Vimal Industries Private Limited, India		1200000
Vimal Resort (India) Private Limited, India		510000
Status Management Limited, India		2254000
Vimal Plast India Private Limited, India		346000
Total		11000000

As on 30.09.2011

Category		Percentage

Bodies corporate		39.18
Directors or relatives of directors		60.82

Total		100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of a wide range of components for Automotive, White goods, Electronics, Consumer durables, Information technology, Electrical, Medical equipment, Earth moving equipments and Plastic furniture.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Canara Bank, Tagore Garden, New Delhi-110027, Delhi, India

Facilities :

Secured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Rupee term loans banks secured	290.104	162.702
Working capital loans banks secured	342.109	156.905
Loans taken for vehicles secured	3.815	6.993
Total	636.028	326.600

Unsecured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Loans directors unsecured	10.682	11.795
Other debt unsecured	224.642	117.800
Total	235.324	129.595


Banking Relations :	--

Auditors :
Name :	A. Taneja and Company Chartered Accountant
Address :	Flat No.1, Plot No.7 and 8, Community Center, Naraina Industrial Area, New Delhi-110028, Delhi, India
Tel. No.:	91-11-41410485 / 45578058
Fax No.:	91-9810813685 / 9312087024
E-Mail :	amittanejaca@yahoo.co.in
Pan No.:	ADBPT3533B

Related party:	· Vimal Plast (India) Private Limited · Vimal Industries Private Limited · Vimal Resorts (India) Private Limited · Vimal Projects Limited · Vimal Autoplast Private Limited · Triple Ess Infrastructure Private Limited · Double Ess Estates Private Limited · Arjun Buildwell Private Limited · Double Ess Finest Private Limited · Vimal Marketing Services Inc (Proprietorship Firm) · S & S Realties Private Limited · Sourabh Buidtech Private Limited · Kunver Realtors Private Limited · Vimalson Buildcon Private Limited · Vimal Motels Private Limited · KRB Motels Private Limited · KRB Realtors Private Limited · Vimal Buildtech Private Limited · Status Management Services India Limited · Vimal Industries (Regd)(Partnership Firm) · Bhawna synthetics p Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

12000000	Equity Shares	Rs.10/- each	Rs.120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

11000000	Equity Shares	Rs.10/- each	Rs.110.000 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		110.000	110.000	110.000
2] Share Application Money		20.000	20.000	0.000
3] Reserves & Surplus		242.401	250.763	238.656
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		372.401	380.763	348.656
LOAN FUNDS
1] Secured Loans		636.028	326.600	186.152
2] Unsecured Loans		235.324	129.595	66.034
TOTAL BORROWING		871.352	456.195	252.186
DEFERRED TAX LIABILITIES		19.801	6.792	2.201

TOTAL		1263.554	843.750	603.043

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		836.933	578.146	391.354
Capital work-in-progress		0.000	0.000	30.428

INVESTMENT		6.200	6.200	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	291.940	168.248	103.224
	Sundry Debtors	201.698	147.174	105.632
	Cash & Bank Balances	8.109	12.300	10.385
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	69.355	60.245	48.673
Total Current Assets		571.102	387.967	267.914
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	135.268	112.380
	Other Current Liabilities	13.082	11.358	83.705
	Provisions	2.331	4.825	2.948
Total Current Liabilities		150.681	128.563	86.653
Net Current Assets		420.421	259.404	181.261

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		1263.554	843.750	603.043

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL (A)	762.022	789.922	437.577

Less	EXPENSES
		TOTAL (B)	658.134	710.677	385.445

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		103.888	79.245	52.132

Less	FINANCIAL EXPENSES (D)		66.494	37.583	22.761

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		37.394	41.662	29.371

Less/ Add	DEPRECIATION/ AMORTISATION (F)		31.361	21.357	16.262

	PROFIT BEFORE TAX (E-F) (G)		6.033	20.305	13.109

Less	TAX (H)		1.222	3.536	5.379

	PROFIT AFTER TAX (G-H) (I)		4.811	16.769	7.730

Less	Income Tax of earlier years		0.137	0.061	0.000

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		54.918	42.811	35.252

Less	Provision for Taxation- Deferred		13.009	4.591	NA

Less	Prior Year Adjustments		0.027	0.010	NA

	BALANCE CARRIED TO THE B/S		46.556	54.918	42.811

	IMPORTS
		Moulds/Machinery and parts	199.167	21.594	NA
		Raw Materials	48.649	56.765	NA
	TOTAL IMPORTS		247.816	78.359	NA

	Earnings Per Share (Rs.)		0.43	1.52	0.70

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.63	2.12	1.77

Return on Total Assets (PBT/Total Assets}	(%)	0.43	2.10	1.98

Return on Investment (ROI) (PBT/Networth)		0.02	0.05	0.04

Debt Equity Ratio (Total Liability/Networth)		2.74	1.54	0.97

Current Ratio (Current Asset/Current Liability)		3.79	3.02	3.09

LOCAL AGENCY FURTHER INFORMATION

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

OPERATIONS:

The Company has achieved turnover of Rs. 926.783 Millions for the year ended 31st March 2011 against Rs. 858.457 Millions for the previous year. Profit before taxation stood at Rs. 6.032 Millions as compared to Rs. 20.305 Millions for the last year. The Profit after Tax for the current year stood at Rs. 4.811 Millions as compared to Rs. 16.769 Millions for the last year. Your management is implementing strict internal control and cost cutting measures to improve the profit margin

FORM 8

Corporate identity number of the company	U74210DL1987PTC029731
Name of the company	VIMAL MOULDERS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B-104/3, Naraina Industrial Area I, New Delhi-110028, Delhi, India Email: saurabhtaneja@vimalplastindia.com
This form is for	Creation of charge
Type of charge	Others
Particular of charge holder	Canara Bank, Tagore Garden, New Delhi-110027, Delhi, India Email: ca_rcg@yahoo.co.in
Nature of instrument creating charge	Guarantee Agreement dated 01.06.2012
Date of instrument Creating the charge	01.06.2012
Amount secured by the charge	Rs.27.500 Million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As applicable to Adhoc limit of Rs. 27.500 Millions granted to M/s Vimal Industries (Regd) Term of Payment: As applicable to Adhoc limit of Rs. 27.500 Millions granted to M/s Vimal Industries (Regd) Margin As applicable to Adhoc limit of Rs. 27.500 Millions granted to M/s Vimal Industries (Regd) Extent and operation of the charge 100% Others: To guarantee payment of all sums due to the Bank under Adhoc limit of Rs. 27.500 Millions granted to M/s Vimal Industries (Regd) together with all interests, costs, charges, expenses etc.
Short particulars of the property charged (Including location of the property)	Corporate Guarantee of the Company.

CONTINGENT LIABILITIES NOT PROVIDED

(a) Guarantees of Rs. 0.095 Millions in favour of various Government Departments.

(b) Excise Duty of Rs.1.369 Millions (Pr Yr Rs. 1.369 Millions)

FIXED ASSETS

Land
Building
Plant and Machinery
Office Equipments
Electrical Installations

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.53
UK Pound	1	Rs.86.82
Euro	1	Rs.69.03

INFORMATION DETAILS

Report Prepared by :

BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		39

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.

MIRA INFORM REPORT

291.940

103.224

201.698

105.632

8.109

10.385

0.000

0.000

69.355

48.673

571.102

135.268

13.082

83.705

2.331

2.948

150.681

420.421

Unit