MIRA INFORM REPORT

Report Date :

29.08.2013

IDENTIFICATION DETAILS

Name :	AMRIT FOODS PRIVATE LIMITED
Registered Office :	Room No. 1, 2^nd Floor, 158, Lenin Sarani, Kolkata-700013, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	30.06.2009
Com. Reg. No.:	21-195909
Capital Investment / Paid-up Capital :	Rs.0.150 Million
CIN No.: [Company Identification No.]	U15139WB2009PTC195909
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Food Products and Beverages.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 1100
Status :	Small Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities is limited. External borrowing of the company appears to be huge in 2012. However, trade relations are reported as fair. Business is active. Payment terms are slow. The company can be considered for small business dealing with great 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	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

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.

LOCATIONS

Registered / Eastern Zone Office :	Room No. 1, 2^nd Floor, 158, Lenin Sarani, Kolkata-700013, West Bengal, India
Tel. No.:	91-33-22159863/ 22151951/52
Fax No.:	Not Available
E-Mail :	compliances@amritgroup.net
Corporate Head Quarter :	Amrit Group of Companies: Infinity Benchmark, 6^th Floor, Block EP and GP, Sector V, Salt Lake, Kolkata-700091, West Bengal, India
Tel. No.:	91-33-40091000
Fax No.:	91-33-40091099
E-Mail :	info@amritgroup.net
Works / Head Office :	Amrit Nagar, G.T. Road, Ghaziabad-201009, Uttar Pradesh, India
Tel No.:	91-120-2866880-83
Fax No.:	91-120-2866888
Email :	amritfood@vsnl.net info@amritcorp.com
Central Zone Office :	Room No. 520, 5th Floor, Ravi Bhavan, Jaistamb Chowk, Raipur-492001, Chhattisgarh, India
Tel No.:	91-771-2220012
North Zone Office :	306, JMD Regent Square, 3rd Floor, DLF Phase-II Gurgaon-122002, Haryana, India
Tel No.:	91-1244-081326
Southern Zone Office :	34,Co-operative Colony, Uppilipalayam Post Coimbatore-641015, Tamilnadu, India
Tel No.:	91-422-4374930
Western Zone Office :	E-7, 2^nd Floor, Behind PDCC Bank, Opposite Gate No. 1, Market Yard, Pune, Maharashtra, India

DIRECTORS

AS ON 28.09.2012

Name :

Mr. Harish Bagla

Designation :

Director

Address :

6, Ashoka Road, Jaisalmer Building, Alipore, Kolkata-700027, West Bengal, India

Date of Birth/Age :

08.12.1970

Date of Appointment :

30.06.2009

Din No.:

00037512

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	U15339WB1994PLC064082	AMRIT FEEDS LIMITED	Managing director	01/03/2011	12/09/1994	-	Active	NO
2	U01409WB1998PTC088048	AMRIT HATCHERIES PRIVATE LIMITED	Managing director	01/10/2011	24/09/1998	-	Active	NO
3	U01409WB2000PTC090900	AMRICON AGROVET PRIVATE LIMITED	Director	10/01/2000	10/01/2000	-	Active	NO
4	U45203WB2000PTC091684	SHREE SHAKAMBHARI PROPERTIES PRIVATE LIMITED	Director	13/04/2000	13/04/2000	-	Active	NO
5	U45209WB2000PTC092459	SHREE SHAKAMBHARI VASTU NIRMAN PRIVATE LIMITED	Director	26/09/2000	26/09/2000	21/03/2007	Active	NO
6	U27109WB2004PLC099827	AMRIT METALS LIMITED	Director	01/10/2011	16/09/2004	-	Active	NO
7	U52324WB1993PTC059349	UDAYGIRI TREXIM PRIVATE LIMITED	Director	09/11/2004	09/11/2004	-	Amalgamated	NO
8	U01409WB2005PTC105500	AMRIT AGROVET PRIVATE LIMITED	Director	20/09/2005	20/09/2005	-	Active	NO
9	U51900WB2005PTC106177	GREENBIRD VYAPAAR PRIVATE LIMITED	Director	04/01/2006	04/01/2006	-	Active	NO
10	U74999WB2001PTC093918	JAISALMER SERVICES PRIVATE LIMITED	Director	01/02/2006	01/02/2006	15/02/2008	Active	NO
11	U45202WB1999PTC089197	OJESH ENCLAVE PRIVATE LIMITED	Director	10/04/2007	10/04/2007	-	Active	NO
12	U34103WB2007PTC116523	AMRIT AUTO ANCILLARIES PRIVATE LIMITED	Director	14/06/2007	14/06/2007	-	Active	NO
13	U15122WB2009PTC135621	AMRIT FRESH PRIVATE LIMITED	Director	03/06/2009	03/06/2009	-	Active	NO
14	U15139WB2009PTC195909	AMRIT FOODS PRIVATE LIMITED	Director	30/06/2009	30/06/2009	-	Active	NO
15	U63020WB2009PTC196051	AMRIT LOGISTICS PRIVATE LIMITED	Director	30/06/2009	30/06/2009	-	Active	NO
16	U01403ML2010PTC008441	MEGHALAYA AGROVET PRIVATE LIMITED	Director	20/11/2010	20/11/2010	-	Active	NO
17	U51109WB2006PTC108480	SREEDEB COMMODITIES PVT LTD	Director	29/09/2011	25/01/2011	-	Active	NO
18	U40100BR2013PTC020220	AMRIT POWER AND CEMENT PRIVATE LIMITED	Director	02/05/2013	02/05/2013	-	Active	NO
19	AAB-4701	BAGLA TOWER LLP	Designated Partner	17/04/2013	17/04/2013	-	Active	NO

Name :

Gauri Prasad Bagla

Designation :

Director

Address :

6, Ashoka Road, Jaisalmer Building, Alipore, Kolkata-700027, West Bengal, India

Date of Birth/Age :

10.07.1937

Date of Appointment :

30.06.2009

Din No.:

00120965

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	U15339WB1994PLC064082	AMRIT FEEDS LIMITED	Whole-time director	30/09/2010	10/06/1998	-	Active	NO
2	U45209WB2000PTC092459	SHREE SHAKAMBHARI VASTU NIRMAN PRIVATE LIMITED	Director	26/09/2000	26/09/2000	21/03/2007	Active	NO
3	U01409WB2000PTC090900	AMRICON AGROVET PRIVATE LIMITED	Director	01/11/2000	01/11/2000	-	Active	NO
4	U01409WB1998PTC088048	AMRIT HATCHERIES PRIVATE LIMITED	Director	20/08/2001	20/08/2001	-	Active	NO
5	U45203WB2000PTC091684	SHREE SHAKAMBHARI PROPERTIES PRIVATE LIMITED	Director	10/08/2002	10/08/2002	-	Active	NO
6	U27109WB2004PLC099827	AMRIT METALS LIMITED	Director	30/11/2004	30/11/2004	-	Active	NO
7	U01409WB2005PTC105500	AMRIT AGROVET PRIVATE LIMITED	Director	20/09/2005	20/09/2005	-	Active	NO
8	U51900WB2005PTC106177	GREENBIRD VYAPAAR PRIVATE LIMITED	Director	04/01/2006	04/01/2006	-	Active	NO
9	U45202WB1999PTC089197	OJESH ENCLAVE PRIVATE LIMITED	Director	10/04/2007	10/04/2007	-	Active	NO
10	U34103WB2007PTC116523	AMRIT AUTO ANCILLARIES PRIVATE LIMITED	Director	14/06/2007	14/06/2007	15/04/2008	Active	NO
11	U26940ML2008PLC008302	AMRIT CEMENT INDUSTRIES LIMITED	Director	24/01/2008	24/01/2008	16/02/2013	Active	NO
12	U15122WB2009PTC135621	AMRIT FRESH PRIVATE LIMITED	Director	03/06/2009	03/06/2009	-	Active	NO
13	U15139WB2009PTC195909	AMRIT FOODS PRIVATE LIMITED	Director	30/06/2009	30/06/2009	-	Active	NO
14	U63020WB2009PTC196051	AMRIT LOGISTICS PRIVATE LIMITED	Director	30/06/2009	30/06/2009	-	Active	NO
15	U40100BR2013PTC020220	AMRIT POWER AND CEMENT PRIVATE LIMITED	Director	02/05/2013	02/05/2013	-	Active	NO

Name :

Mr. Archana Bagla

Designation :

Director

Address :

6, Ashoka Road, Jaisalmer Building, Alipore, Kolkata-700027, West Bengal, India

Date of Birth/Age :

31.05.1975

Date of Appointment :

30.06.2009

Din No.:

01066643

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	U27109WB2004PLC099827	AMRIT METALS LIMITED	Director	01/05/2011	08/12/2006	-	Active	NO
2	U45203WB2000PTC091684	SHREE SHAKAMBHARI PROPERTIES PRIVATE LIMITED	Director	08/05/2007	08/05/2007	-	Active	NO
3	U34103WB2007PTC116523	AMRIT AUTO ANCILLARIES PRIVATE LIMITED	Director	14/06/2007	14/06/2007	15/04/2008	Active	NO
4	U15139WB2009PTC195909	AMRIT FOODS PRIVATE LIMITED	Director	30/06/2009	30/06/2009	-	Active	NO
5	U63020WB2009PTC196051	AMRIT LOGISTICS PRIVATE LIMITED	Director	30/06/2009	30/06/2009	-	Active	NO
6	U01409WB1998PTC088048	AMRIT HATCHERIES PRIVATE LIMITED	Director	29/09/2010	24/04/2010	-	Active	NO
7	U01409WB2000PTC090900	AMRICON AGROVET PRIVATE LIMITED	Director	30/09/2010	24/04/2010	-	Active	NO
8	U15339WB1994PLC064082	AMRIT FEEDS LTD	Director	27/09/2010	24/04/2010	-	Active	NO
9	U51109WB2006PTC108480	SREEDEB COMMODITIES PRIVATE LIMITED	Director	29/09/2011	25/01/2011	-	Active	NO
10	U01409WB2005PTC105500	AMRIT AGROVET PRIVATE LIMITED	Director	29/09/2012	12/01/2012	-	Active	NO
11	U45202WB1999PTC089197	OJESH ENCLAVE PRIVATE LIMITED	Director	24/09/2012	24/09/2012	-	Active	NO
12	U51900WB2005PTC106177	GREENBIRD VYAPAAR PRIVATE LIMITED	Director	29/09/2012	29/09/2012	-	Active	NO
13	U01403ML2010PTC008441	MEGHALAYA AGROVET PRIVATE LIMITED	Director	29/09/2012	29/09/2012	-	Active	NO
14	U40100BR2013PTC020220	AMRIT POWER AND CEMENT PRIVATE LIMITED	Director	02/05/2013	02/05/2013	-	Active	NO
15	AAB-4701	BAGLA TOWER LLP	Designated Partner	17/04/2013	17/04/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2012

Names of Shareholders	No. of Shares
Harish Bagla	5000
Gauri Prasad Bagla	5000
Archana Bagla	5000
TOTAL	15000

AS ON 28.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Food Products and Beverages.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Damle Dhandhania and Company Chartered Accountants
Address :	Martin Burn House 1, R.N. Mukherjee Road, Mezanine Floor, Room No. 15A, Kolkata-700001, West Bengal, India
Tel. No.:	91-33-30224196/22137625
Fax No.:	91-33-22137625
E-Mail :	damledhandhania@gmail.com
PAN No:	AADFD9543Q
Group Company :	Amrit Feeds Limited Amrit Hatcheries Private Limited Amrit Fresh Private Limited Amricon Agrovet Private Limited Amir Agrovet Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15000	Equity Shares	Rs.10/- each	Rs.0.150 Million

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	0.150	0.150
(b) Reserves & Surplus	0.148	0.027
(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)	0.298	0.177
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(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)	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	3.404	3.274
(b) Trade payables	0.000	0.000
(c) Other current liabilities	0.022	0.018
(d) Short-term provisions	0.110	0.056
Total Current Liabilities (4)	3.536	3.348
TOTAL	3.834	3.525
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.479	2.339
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	2.479	2.339
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.204
(d) Cash and cash equivalents	1.299	0.982
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.056	0.000
Total Current Assets	1.355	1.186
TOTAL	3.834	3.525

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.150
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.081)
NETWORTH		0.069
LOAN FUNDS
1] Secured Loans		0.938
2] Unsecured Loans		0.000
TOTAL BORROWING		0.938
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.007
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.112
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.898
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		0.898
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.003
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.003
Net Current Assets		0.895
MISCELLANEOUS EXPENSES		0.000
TOTAL		1.007

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	0.227	0.204	0.000
		Other Income	0.000	0.000	0.000
		TOTAL	0.227	0.204	0.000
Less	EXPENSES
		Office Expenses	0.006	0.004	0.080
		TOTAL	0.006	0.004	0.080
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.221	0.200	(0.080)
Less	FINANCIAL EXPENSES		0.046	0.037	0.000
	PROFIT / (LOSS) BEFORE TAX		0.175	0.163	(0.080)
Less	TAX		0.054	0.056	0.000
	PROFIT / (LOSS) AFTER TAX		0.121	0.107	(0.080)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	(0.080)	0.000
	BALANCE CARRIED TO THE B/S		NA	0.027	(0.080)
	Earnings / (Loss) Per Share (Rs.)		8.12	7.14	(5.38)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	53.30	52.45	0.00
Net Profit Margin (PBT/Sales)	(%)	77.09	79.90	0.00
Return on Total Assets (PBT/Total Assets}	(%)	4.56	4.62	(7.92)
Return on Investment (ROI) (PBT/Networth)		0.58	0.92	(1.15)
Debt Equity Ratio (Total Debt/Networth)		11.42	18.50	13.59
Current Ratio (Current Asset/Current Liability)		0.38	0.35	299.33

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	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	No
24]	Banking facility details	No
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

NOTE:

The registered office of the company has been shifted from 12, Surya Apartment, 1^st Floor, Fraser Road, Patna-800001, Bihar, India to the present address w.e.f.04.07.2013.

Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Short Term Borrowings
Loans and advances from related parties	0.000	0.038
Other loans and advances	3.404	3.236
TOTAL	3.404	3.274

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.68.36
UK Pound	1	Rs.106.03
Euro	1	Rs.91.47

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.