MIRA INFORM REPORT

Report Date :

05.12.2013

IDENTIFICATION DETAILS

Name :	M K OVERSEAS PRIVATE LIMITED
Registered Office :	39/5864, Basti Har Phool Singh, Sadr Bazar, Delhi – 110006.
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	14.12.1987
Com. Reg. No.:	55-029976
Capital Investment / Paid-up Capital :	Rs.138.000 Millions
CIN No.: [Company Identification No.]	U2509DL1987PTC029976
TAN No.: [Tax Deduction & Collection Account No.]	DELM08790F
PAN No.: [Permanent Account No.]	AAACM2076P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of fresh frozen food items.
No. of Employees :	450 (Approximately)

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 3600000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Financial for the year 2011, 2012 and 2013 is not available to us. Mr. Manoj Nair, finance manager has provided general information. He also provided us sales turnover of FY 2011, 2012 and 2013, which is not verified. As per previous financial record of 2010, profit margin of the company seems to be fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing 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	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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6 % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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. Manoj Nair
Designation :	Finance Manager
Contact No.:	91-9312677580
Date :	03.12.2013

LOCATIONS

Registered Office :	39/5864,Basti Har Phool Singh, Sadr Bazar, Delhi - 110006, India
Tel No.:	Not Available
Mobile No.:	91-9810010786 (Mr. Nadeem) 91-9312677580 (Mr. Manoj Nair)
Fax No.:	Not Available
Email :	ca.jbsharma@gmail.com mko@nda.vsnl.net.in
Website:	www.mk_overseas.com
Corporate Office :	14, Fire Bridge Lane, World Trade Centre,1 Cannaught Place, New Delhi – 110001, India
Tel. No.:	91-11-41525900 / 23522165
Fax No.:	91-11-23674988 / 23413093
Factory :	7^th Kilometer Stone Village Samgaudi, Link Road, Tehsil Berabass, District Sas Nagar, Mohali – 140507, Punjab, India

DIRECTORS

As on 29.09.2012

Name :

Mr. Mohd Kamil

Designation :

Director

Address :

39/5864 Basti Harphool Singh Sadar Bazar, Delhi – 110006, India

Date of Birth/Age :

18.11.1950

Date of Appointment :

01.08.1999

DIN No.:

00525402

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	U15123DL1996PLC081993	ASIAN AGRO INDUSTRIES LIMITED	Director	17/09/1996	17/09/1996	-	Active	NO
2	U25209DL1987PTC029976	M K OVERSEAS PRIVATE LIMITED	Director	01/08/1999	01/08/1999	-	Active	NO
3	U15132RJ1996PTC012432	PRIME NATURAL FROZEN FOODS EXPORT PRIVATE LIMITED	Director	31/07/2000	31/07/2000	-	Active	NO
4	U15116UP1999PTC024802	AL-ANAM AGRO FOODS PRIVATE LIMITED	Director	29/09/2008	11/02/2008	-	Active	NO
5	U15111DL2005PTC143959	AL-DUA FOOD PROCESSING PRIVATE LIMITED	Director	12/02/2008	12/02/2008	-	Active	NO
6	U51223DL2005PTC140655	AQDAS FOODS PRIVATE LIMITED	Director	30/09/2008	03/04/2008	-	Active	NO

Name :

Mrs. Nasira Begum

Designation :

Director

Address :

39/5864 Basti Harphool Singh Sadar Bazar, Delhi – 110006, India

Date of Birth/Age :

15.01.1957

Date of Appointment :

14.12.1987

DIN No.:

00533826

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	U25209DL1987PTC029976	M K OVERSEAS PRIVATE LIMITED	Director	14/12/1987	14/12/1987	-	Active	NO
2	U15132RJ1996PTC012432	PRIME NATURAL FROZEN FOODS EXPORT PRIVATE LIMITED	Director	31/07/2000	31/07/2000	-	Active	NO
3	U15123DL1996PLC081993	ASIAN AGRO INDUSTRIES LIMITED	Director	21/02/2005	21/02/2005	-	Active	NO
4	U15116UP1999PTC024802	AL-ANAM AGRO FOODS PRIVATE LIMITED	Director	29/09/2008	11/02/2008	-	Active	NO
5	U15111DL2005PTC143959	AL-DUA FOOD PROCESSING PRIVATE LIMITED	Director	12/02/2008	12/02/2008	-	Active	NO
6	U51223DL2005PTC140655	AQDAS FOODS PRIVATE LIMITED	Director	30/09/2008	03/04/2008	-	Active	NO

Name :

Mr. Mohammed Moshin

Designation :

Director

Address :

20, Fire Brigade Lane, Connaught Place, New Delhi-110001, India

Date of Birth/Age :

17.04.1989

Date of Appointment :

28.09.2009

DIN No.:

02436110

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
	U25209DL1987PTC029976	M K OVERSEAS PRIVATE LIMITED	Director	28/09/2009	01/12/2008	-	Active	NO
2	U92190DL2013PTC260605	SM EPIC FILMS PRIVATE LIMITED	Director	23/11/2013	23/11/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manoj Nair
Designation :	Finance Manager

MAJOR SHAREHOLDERS

As on 29.09.2012

Names of Shareholders	No. of Shares
Nasar Begum	666000
Nadeem Ahmed	9200
Kamil Mohd	264800
Mohsin Kamil	428000
Shakeer Ahmed	12000
Total	1380000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of fresh frozen food items.
Exports :
Products :	Fresh Frozen Food Items
Countries :	· Pakistan · Middle East · Malaysia · Egypt
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (As on 31.03.2010)

METAL PLANT	Unit	Sahibabad Plant	Dera Bassi Plant
Licensed (Frozen) (Single Shift)	MT	18450.000	72900.000
Installed (Frozen) (Single Shift)	MT	18450.000	72900.000
Production	MT	8733.020	46583.334
BONE PLANT
Licensed (For Bone Meal and Tallow)	MT	20250.000	18000.000
Installed (For Bone Meal and Tallow)	MT	20250.000	18000.000
Production	MT	12713.799	12172.472

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

450 (Approximately)

Bankers :

· Bank of Baroda, International Business Branch, Parliament Street, New Delhi – 110001, India

· Bank of Baroda, 003-Block No.2, Offshore Banking Unit Seepz, Mumbai - 400096, Maharashtra, India

·

Facilities :

Total Facility = Rs.500.000 Millions (Bank of Baroda, Delhi)

SECURED LOANS	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
HDFC Bank Car Loan (against hypothecation of Honda CRV)	0.000	0.491
HDFC Bank Car Loan (against hypothecation of Honda City)	0.000	0.064
HDFC Bank Car Loan (against hypothecation Honda City ZXG)	0.166	0.391
HDFC Bank Car Loan (Honda Accord)	0.356	0.838
HDFC Bank Car Loan (against hypothecation of Innova Car)	0.000	0.071
HDFC Bank Car Loan (BMW 740)	1.437	4.047
HDFC Bank Car Loan (Scorpio SLX TC-No1)	0.124	0.397
HDFC Bank Car Loan (Scorpio SLX TC-No2)	0.124	0.397
HDFC Bank Car Loan (Scorpio SLX TC-No3)	0.124	0.397
HDFC Bank Car Loan (against hypothecation of Merc SLK)	1.844	3.047
HDFC Bank Car Loan (E-280 Mercd FL-62)	1.399	2.747
HDFC Bank Car Loan (E-280 Mercd CDI)	0.000	2.868
HDFC Bank Car Loan (Mercedes S Class-350)	2.451	4.812
HDFC Bank Car Loan (Fortuner) M	1.404	0.000
HDFC Bank Car Loan (Fortuner) Z	1.404	0.000
HDFC Bank Car Loan (Altis)	0.814	0.000
HDFC Bank Car Loan (Altis)	0.863	0.000
HDFC Bank Car Loan (Porche)	6.545	0.000
Bank of Baroda OD against FDR’s	120.770	235.707
Packing Credit Limit (Against hypothecation of stock)	368.739	157.191
Bill Purchase Account (Secured against current assets of the company)	564.084	344.503
E.C.B Loan Account with Bank of Baroda	0.000	23.794
Total	1072.648	781.762

Banking Relations :	--
Auditors :
Name :	Kpmr and Associates Chartered Accountant
Address :	211, Delhi, Chamber, Delhi Gate, New Delhi-110002, India
Tel. No.:	91-11-23262425 / 23287038
Fax No.:	91-11-23269723
PAN No.:	AAAFF1124G
Related Parties :	· Prime Natural Frozen Food Private Limited · M. K. Exports · Al-Dua Food Processing Private Limited · Asian Agro Industries Limited · Al-Dua Frozen Foods Private Limited

CAPITAL STRUCTURE

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1400000	Equity Shares	Rs.100/- each	Rs.140.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1380000	Equity Shares	Rs.100/- each	Rs.138.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		138.000	138.000	138.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		784.393	687.937	550.779
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		922.393	825.937	688.779
LOAN FUNDS
1] Secured Loans		1072.648	781.762	524.046
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		1072.648	781.762	524.046
DEFERRED TAX LIABILITIES		4.520	5.903	10.540
TOTAL		1999.561	1613.602	1223.365
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		512.134	461.926	471.024
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		85.137	0.836	0.837
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	473.210	202.847	482.281
	Sundry Debtors	1273.073	851.351	478.959
	Cash & Bank Balances	514.510	454.821	57.272
	Other Current Assets	47.052	31.571	18.895
	Loans & Advances	277.012	299.098	208.808
Total Current Assets		2584.857	1839.688	1246.215
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	861.422	353.109	408.328
	Other Current Liabilities	82.343	167.872
	Provisions	238.802	167.867	86.383
Total Current Liabilities		1182.567	688.848	494.711
Net Current Assets		1402.290	1150.840	751.504
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1999.561	1613.602	1223.365

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	11256.500	9345.600	5276.000
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES		NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		205.633	275.286	184.892
Less	DEPRECIATION/ AMORTISATION		54.622	61.334	57.445
	PROFIT/(LOSS) BEFORE TAX		260.255	213.952	127.447
Less	TAX		107.480	76.793	57.864
	PROFIT/(LOSS) AFTER TAX		152.775	137.159	69.583
	Earnings Per Share (Rs.)		110.71	NA	NA

Particulars	31.03.2013	31.03.2012	31.03.2011
Sales Turnover (Approximately)	13000.000	12470.000	10540.000

Expected Sales (2013-2014): Rs.15000.000 Millions

The above information has been parted by Mr. Manoj Nair (Finance Manager)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Net Profit Margin (PBT/Sales)	(%)	2.31	2.29	2.42
Return on Total Assets (PBT/Total Assets}	(%)	8.40	9.30	7.42
Return on Investment (ROI) (PBT/Networth)		0.28	0.26	0.19
Debt Equity Ratio (Total Debt /Networth)		1.16	0.95	0.76
Current Ratio (Current Asset/Current Liability)		2.19	2.67	2.52

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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

PERFORMANCE

The total turnover of the company has increased to Rs.11256.500 Millions as against Rs.9345.600 Millions in the previous year. Net Profit of the company also increased to Rs.260.255 Millions as against Rs.213.952 Millions during previous year. In percentage terms net profit is 2.45% of total turnover in current year as compared to 2.42% in previous year. The company foresees better prospects in the coming years. In spite of overall global recession, company maintained its increase turnover ratio and targets.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10422704	02/04/2013	21,000,000.00	Bank of Baroda	International Business Branch, Parliament Street, New Delhi, Delhi - 110001, INDIA	B74029869
2	10363815	14/06/2012	60,000,000.00	Bank of Baroda	Intl. Business Branch, Parliament Street, New Delhi, Delhi - 110001, INDIA	B42936427
3	10217940	20/11/2012 *	1,002,300,000.00	Bank of Baroda	International Business Branch, Parliament Street, New Delhi, Delhi - 110001, INDIA	B63902381
4	10172280	21/08/2009	40,000,000.00	Bank of Baroda	International Business Branch, 16, Parliament Street, New Delhi, Delhi - 110001, INDIA	A68472679
5	10171881	16/07/2009	40,000,000.00	Bank of Baroda	International Business Branch, 16, Parliament Street, New Delhi, Delhi - 110001, INDIA	A68189562
6	10171874	16/07/2009	75,000,000.00	Bank of Baroda	International Business Branch, 16, Parliament Street, New Delhi, Delhi - 110001, INDIA	A68189232
7	10144492	02/04/2013 *	200,000,000.00	Bank of Baroda	International Business Branch, Parliament Street, New Delhi, Delhi - 110001, INDIA	B74027962
8	10117213	23/07/2008	150,000,000.00	Bank of Baroda	International Business Branch, Parliament Street, New Delhi, Delhi - 110001, INDIA	A43622349
9	10100266	02/04/2013 *	100,000,000.00	Bank of Baroda	International Business Branch, Parliament Street, New Delhi, Delhi - 110001, INDIA	B74029513
10	10100178	02/04/2013 *	320,000,000.00	Bank of Baroda	International Business Branch, Parliament Street, New Delhi, Delhi - 110001, INDIA	B74028663
11	10100185	01/03/2008	45,000,000.00	Bank of Baroda	International Business Branch, Parliament Street, New Delhi, Delhi - 110001, INDIA	A37356490
12	10076344	01/11/2007	25,000,000.00	Bank of Baroda	International Business Branch, 16, Parliament Street, New Delhi, Delhi - 110001, INDIA	A27377779
13	10076349	01/11/2007	25,000,000.00	Bank of Baroda	International Business Branch, 16, Parliament Street, New Delhi, Delhi - 110001, INDIA	A27377183
14	10027335	02/04/2013 *	900,000,000.00	Bank of Baroda	International Business Branch, Parliament Street, New Delhi, Delhi - 110001, INDIA	B74029133
15	80016792	02/04/2013 *	700,000,000.00	Bank of Baroda	International Business Branch, Parliament Street, New Delhi, Delhi - 110001, INDIA	B74028432

* Date of charge modification

FIXED ASSETS:

· Air Conditioner

· Scooter

· Fan

· Furniture and Fixture

· Tractor

· Cell Phone

· Cycle

· Television

· Computer and Printer

· Bus

· Handy Cam

· Water Purifier

· Xerox Machine

· Land

· Plant and Machinery

· Building

· Lab Equipment

· Washing Machine

· Tripe Wash Machine

· Bio Gas Plant

· Water Tank

· ETP Tank

· Vacuum Pack Machine

· Salt Evaporation Plant

· Slaughter Line

· Strapping Machine

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.62.33
UK Pound	1	Rs.102.18
Euro	1	Rs.84.68

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	VNT

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	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--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.