MIRA INFORM REPORT

Report Date :

06.08.2013

IDENTIFICATION DETAILS

Name :	HOPEWELL TABLEWARE PRIVATE LIMITED

Registered Office :	D 10/50, Opposite Chitrakoot Stadium, Chitrakoot Vaishali Nagar, Jaipur – 302021, Rajasthan

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	25.11.2010

Com. Reg. No.:	17-033403

Capital Investment / Paid-up Capital :	Rs. 50.000 Millions

CIN No.: [Company Identification No.]	U26913RJ2010PTC033403

PAN No.: [Permanent Account No.]	AACCH5367G

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturing and Trading of Melamine Tableware Products, Kitchenware and Crockery.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 190000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having a moderate track record. The financial position of the company is below average. However, trade relations are reported as fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some 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 – March 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

India

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

INDIAN ECONOMIC OVERVIEW

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure. Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

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. Govind Agarwal
Designation :	Finance Head
Contact No.:	91-9001476444
Date :	05.08.2013

LOCATIONS

Registered Office / Corporate :	D 10/50, Opposite Chitrakoot Stadium, Chitrakoot Vaishali Nagar, Jaipur – 302021, Rajasthan, India
Tel. No.:	91-141-2441385
Fax No.:	Not Available
E-Mail :	Acc.hopewell@gmail.com Hr.admin@htplindia.com Sales@hopewell-tableware.com info@hopewell-tableware.com
Website :	http://www.hopewell-tableware.com http://wwwhopewelltableware.com

Factory :	NH-11, Sikar Road, Highway, Near Govindgarh, Chomu, Jaipur – 303807, Rajasthan, India

DIRECTORS

As on : 12.09.2012

Name :

Mr. Swapan Kumar Guha

Designation :

Director

Address :

A-17, Manish Marg, Nemi Nagar, Gandhi Path, Vaishali Nagar, Jaipur – 302021, Rajasthan, India

Date of Birth/Age :

02.02.1957

Date of Appointment :

25.11.2010

PAN No :

ACNPG5044M

DIN No.:

00784546

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	U26109RJ2002PTC017481	HOPEWELL CERAMICS PRIVATE LIMITED	Director	12-03-02	12-03-02	-	Active	NO
2	U74140RJ2006PTC023185	ARTICULATE MANAGEMENT CONSULTANTS PRIVATE LIMITED	Director	05-10-06	05-10-06	-	Active	NO
3	U19123RJ2009PTC028360	MAHAVIR FOOTCARE PRIVATE LIMITED	Director	24-02-09	24-02-09	27-09-11	Active	NO
4	U26913RJ2010PTC033403	HOPEWELL TABLEWARE PRIVATE LIMITED	Director	25-11-10	25-11-10	-	Active	NO

Name :

Mr. Prem Singh Bajor

Designation :

Chairman

Address :

5-A, Bajor House, Hawa Sarak, Jaipur - 302019, Rajasthan, India

Date of Birth/Age :

14.10.1957

Date of Appointment :

12.09.2012

DIN No.:

01511516

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	U55101RJ1999PTC015640	MALKERA HOTELS AND RESORTS PRIVATE LIMITED	Director	30-07-08	01-01-08	-	Active	NO
2	U14101RJ2007PTC024654	BANAS NEELAM MARBLE PRIVATE LIMITED	Director	17-12-08	07-01-08	-	Active	NO
3	U45201RJ2008PTC026702	MITRA INFRA PROJECTS PRIVATE LIMITED	Director	04-06-08	04-06-08	-	Active	NO
4	U45201RJ2000PTC016305	AMBIKA PREMISES PVT. LTD.	Director	29-09-09	01-04-09	03-01-11	Active	NO
5	U45201RJ2009PTC029682	JAIPUR MALLS PRIVATE LIMITED	Director	30-12-10	15-12-09	30-04-12	Active	NO
6	U55100RJ2007PTC024834	SATYAM GOLF AND SAFARI PRIVATE LIMITED	Director	30-09-11	25-04-11	-	Active	NO
7	U36911MH2008PLC181278	GOLD MINT INDIA LIMITED	Director	29-09-12	09-01-12	-	Active	NO
8	U26913RJ2010PTC033403	HOPEWELL TABLEWARE PRIVATE LIMITED	Director	12-09-12	21-06-12	-	Active	NO
9	U51109RJ2005PTC021016	KOVID COMMERCIAL COMPANY PRIVATE LIMITED	Director	10-06-13	10-06-13	-	Active	NO

Name :

Mrs. Sweety Gupta

Designation :

Additional director

Address :

D-61, BII, Hathi Babu Marg, Bani Park, Jaipur – 302016, Rajasthan, India

Date of Birth/Age :

05.05.1979

Date of Appointment :

21.06.2012

DIN No.:

00101967

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	U45201RJ2001PTC017277	SRI GOVIND BUILDESTATE PRIVATE LIMITED	Director	08-11-01	08-11-01	-	Active	NO
2	U45201RJ2004PTC019407	SRIGOVINDKRIPA PROPERTIES PRIVATE LIMITED	Director	21-06-04	21-06-04	-	Active	NO
3	U26913RJ2010PTC033403	HOPEWELL TABLEWARE PRIVATE LIMITED	Director	12-09-12	21-06-12	-	Active	NO

Name :

Mr. Vikram Singh

Designation :

Additional director

Address :

VPO-Bajor, Via-Ranoli, Sikar – 332001, Rajasthan, India

Date of Birth/Age :

20.06.1987

Date of Appointment :

12.09.2012

DIN No.:

05134962

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	U45203DL2011PTC218839	SMS-AAMW TOLLWAYS PRIVATE LIMITED	Additional director	01-12-11	01-12-11	-	Active	NO
2	U36911MH2008PLC181278	GOLD MINT INDIA LIMITED	Director	29-09-12	09-01-12	-	Active	NO
3	U45201RJ2009PTC029682	JAIPUR MALLS PRIVATE LIMITED	Director	27-09-12	19-04-12	-	Active	NO
4	U14200RJ2012PTC038988	VIKRAM MINES AND MINERALS PRIVATE LIMITED	Director	22-05-12	22-05-12	-	Active	NO
5	U26913RJ2010PTC033403	HOPEWELL TABLEWARE PRIVATE LIMITED	Director	12-09-12	21-06-12	-	Active	NO
6	U45201RJ2008PTC025651	VIKRAM HOSPITALITY PRIVATE LIMITED	Additional director	20-10-12	04-07-12	-	Active	NO
7	U45201RJ2013PTC041857	VIKRAM BUILDVISION PRIVATE LIMITED	Director	18-03-13	18-03-13	-	Active	NO
8	U14200RJ2013PTC042826	HAMEER MINES PRIVATE LIMITED	Director	06-06-13	06-06-13	-	Active	NO
9	U51109RJ2005PTC021016	KOVID COMMERCIAL COMPANY PRIVATE LIMITED	Director	10-06-13	10-06-13	-	Active	NO
10	AAB-6313	PLENARY MANPOWER SOLUTIONS LLP	Designated Partner	04-07-13	04-07-13	-	Active	NO

Name :

Mr. Atul Ramswaroop Chotia

Designation :

Additional director

Address :

C/203, Pratishtha App, Bodakdev, Ahmedabad – 380054, Gujarat, India

Date of Birth/Age :

19.08.1983

Date of Appointment :

12.09.2012

DIN No.:

05210616

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	U36911MH2008PLC181278	GOLD MINT INDIA LIMITED	Director	29-09-12	01-03-12	-	Active	NO
2	U26913RJ2010PTC033403	HOPEWELL TABLEWARE PRIVATE LIMITED	Director	12-09-12	21-06-12	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 12.09.2012

Names of Shareholders	No. of Shares
Swapan Guha	69190
Mita Guha	5000
Lavita Arya	912500
Supratik Guha	140000
Hopewell Ceramics Private Limited, India	890810
Esha Guha	95000
Lavita Exports Private Limited, India	87500
Inox Advisory Private Limited, India	100000
Satyajit Chakarabarti	200000
Banani Chakrabarti	200000
Sanghamitra Chakarabarti	850000
Debhashish Mazumdar	150000
Bishwajoy Chatterjee	50000
Vikram Singh	306250
Saroj Bardiya	234375
Sweety Gupta	234375
Prem Singh Bajor	475000
Total	5000000

As on : 28.12.2012

Names of Allotees	No. of Shares
Swapan Guha	80000
Hopewell Ceramics Private Limited, India	679190
Dr.Satyajit Chakarabarti	1400000
Bishwajoy Chatterjee	50000
Vikram Singh	1505079
Prem Singh Bajor	3388671
Sweety Gupta	78935
Govind Gems Private Limited, India	1250000
Sangeeta Gupta	350000
Saroj Bardiya	1468125
Total	10250000

Equity Share Break up (Percentage of Total Equity)

As on : 12.09.2012

Category	Percentage
Bodies corporate	21.57
Directors or relatives of Directors	26.50
Other top fifty shareholders	51.93
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Trading of Melamine Tableware Products, Kitchenware and Crockery.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

v Punjab National Bank, SSI Branch, Road No.14, VKI Area, Jaipur – 302013, Rajasthan, India

v State Bank of Bikaner and Jaipur

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2012	As on 31.03.2011
Long term Borrowings :
Term Loans from Banks	19.468	0.000
Term Loans from Others	0.676	0.000
Other Loans and advances	8.550	0.000
Short term borrowings :
Working capital loans from Banks	5.675	0.000
Loans repayable on demand from Banks	6.981	0.000
Total	41.350	0.000


Auditors :
Name :	Bafna and Associates Chartered Accountants
Address :	101, Anukampa Mansion 1^st, M.I . Road,Jaipur, Rajasthan, India
PAN No.:	AAHFB2043F

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	v UP Ceramics and Potteries Private Limited, India v Hopewell Ceramics Private Limited, India v University Of Engineering and Management v Lavita Exports Private Limited, India v Texas Consultants and Company

CAPITAL STRUCTURE

As on : 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount

5000000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

5000000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions

After : 12.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount

15250000	Equity Shares	Rs. 10/- each	Rs. 152.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

15250000	Equity Shares	Rs. 10/- each	Rs. 152.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	50.000	0.100
(b) Reserves & Surplus	(0.052)	(0.300)
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	49.948	(0.200)

(3) Non-Current Liabilities
(a) long-term borrowings	65.386	11.942
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	65.386	11.942

(4) Current Liabilities
(a) Short term borrowings	12.656	0.000
(b) Trade payables	1.169	0.000
(c) Other current liabilities	18.225	0.039
(d) Short-term provisions	0.044	0.000
Total Current Liabilities (4)	32.094	0.039

TOTAL	147.428	11.781

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	23.944	9.411
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	56.527	0.113
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.022	0.000
(d) Long-term Loan and Advances	0.801	1.144
(e) Other Non-current assets	47.004	0.000
Total Non-Current Assets	128.298	10.668

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	7.973	0.000
(c) Trade receivables	5.559	0.000
(d) Cash and cash equivalents	0.441	1.113
(e) Short-term loans and advances	5.157	0.000
(f) Other current assets	0.000	0.000
Total Current Assets	19.130	1.113

TOTAL	147.428	11.781

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2012	31.03.2011
SALES
	Turnover	915.000	NA

KEY RATIOS

PARTICULARS	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt /Networth)	1.56	11.74

Current Ratio (Current Asset/Current Liability)	2.09	57.87

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one years	Yes
12]	Profitability for last three years	No
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	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	No

NOTE :

The registered office of the company has been shifted from A-17, Manish Marg, Gandhi Path, Nemi Nagar, Jaipur – 302021, Rajasthan, India to the above present address w.e.f. 04.03.2013.

FINANCIAL RESULTS :

During the year, the company has started business of manufacturing and Trading of Melamine Tableware products, kitchen ware and crockery. The production was started in the month of November 2011. During the period the company's total turnover was Rs. 9.150 Millions. The another project of opalware is under work in progress. The plan of the company is good and near future the company will earn a good profit.

UNSECURED LOANS :

(Rs in Millions)

PARTICULARS	31.03.2012	31.03.2011
Long term borrowings :
Loans and advances from related parties	36.692	11.942
Total	36.692	11.942

INDEX OF CHARGE :

Sr .No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10404392	03/01/2013	33,000,000.00	State Bank of Bikaner and Jaipur	Industrial Finance Branch, 2nd floor, Tambi Tower, Sansar Chandra Road, Jaipur, Rajasthan - 302001, INDIA	B68597129
2	10404399	03/01/2013	128,000,000.00	State Bank of Bikaner and Jaipur	Industrial Finance Branch, 2nd floor, Tambi Tower, Sansar Chandra Road, Jaipur, Rajasthan - 302001, INDIA	B68601723
3	10404395	03/01/2013	237,000,000.00	State Bank of Bikaner and Jaipur	Industrial Finance Branch, 2nd floor, Tambi Tower, Sansar Chandra Road, Jaipur, Rajasthan - 302001, INDIA	B68597947

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] 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. 60.82
UK Pound	1	Rs. 92.97
Euro	1	Rs. 80.73

INFORMATION DETAILS

Information Gathered by :	PDT

Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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

Unit