MIRA INFORM REPORT

Report Date :

05.12.2013

IDENTIFICATION DETAILS

Name :	SAHARA GLOBAL MASTERCRAFT LIMITED
Registered Office :	Sahara Star, Vile Parle (East), Mumbai – 400 099, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	25.02.2011
Com. Reg. No.:	11-214035
Capital Investment / Paid-up Capital :	Rs.1.400 millions
CIN No.: [Company Identification No.]	U74990MH2011PLC214035
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in manufacturing and trading of Lifestyle Products. (Manufacturing will be done through Job Work)
No. of Employees :	Not Divulged

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

Status :	Yet to Commence its business activities
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated on 25.02.2011, it has not yet commenced its business operaitons. Mr. Dipesh Kothari, Manager confirmed that the subject is going to start its activity during the FY 2013-14. Payment terms are unknown. The company can be considered for business dealings 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

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 (PARTIAL DETAILS)

Name :	Mr. Dipesh Kothari
Designation :	Manager
Contact No.:	91-9820264063
Date :	03.12.2013

LOCATIONS

Registered Office :	Sahara Star, Vile Parle (East), Mumbai – 400 099, Maharashtra, India
Tel. No.:	91-22-39895000
Mobile No.:	91-9820264063 (Mr. Dipesh Kothari - Manager)
Fax No.:	91-22-39895001
E-Mail :	saharastatutory@gmail.com
Corporate Office :	C-38/39, 14^th Floor, Crezenzo Parinee Building, Opposite MCA Club, B.K.C, Bandra (East), Mumbai – 400 051, Maharashtra, India
Tel. No.:	91-22-39665400

DIRECTORS

AS ON 25.09.2013

Name :

Mr. Om Prakash Fullan Prasad Srivastava

Designation :

Director

Address :

A-706, Sector-C, Mahanagar, Lucknow – 226 006, Uttar Pradesh, India

Date of Birth/Age :

27.06.1955

Date of Appointment :

25.02.2011

DIN No.:

00144000

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	U67120UP1987PLC008909	SAHARA INDIA FINANCIAL CORPORATION LIMITED	Whole-time director	01/02/2013	07/08/1987	-	Active	NO
2	U62100MH1991PLC177728	JET LITE (INDIA) LIMITED	Director	20/09/1991	20/09/1991	20/04/2007	Active	NO
3	U65921UP1993PLC015170	SAHARA PRIME CITY LIMITED	Director	09/03/1993	09/03/1993	-	Active	NO
4	U85320WB1995NPL072099	SAHARA WELFARE FOUNDATION	Director	12/06/1995	12/06/1995	-	Active	NO
5	U70109WB1992PLC053999	SAHARA INDIA COMMERCIAL CORPORATION LIMITED	Director	30/09/2006	20/07/1995	-	Active	NO
6	U74899DL1980PTC010607	SAIN PROCESSING AND WEAVING MILLS PRIVATE LIMITED	Director	25/11/1995	25/11/1995	-	Active	NO
7	U85110MH1997PLC109186	SAHARA INDIA MEDICAL INSTITUTE LIMITED	Director	03/07/1997	03/07/1997	-	Active	NO
8	L67120MH1981PLC024947	SAHARA ONE MEDIA AND ENTERTAINMENT LIMITED	Director	10/03/2000	10/03/2000	-	Active	NO
9	U65999UP2000PLC025635	SAHARA INDIA LIFE INSURANCE COMPANY LIMITED	Director	13/09/2000	13/09/2000	-	Active	NO
10	U72900MH2001PLC132951	SAHARA NET CORP LIMITED	Director	02/08/2001	02/08/2001	14/02/2011	Active	NO
11	L45400WB1983PLC035664	SAHARA INFRASTRUCTURE AND HOUSING LIMITED	Director	01/09/2001	01/09/2001	14/02/2011	Active	NO
12	U40101PN2001PLC016565	SAHARA INDIA POWER CORPORATION LIMITED	Director	14/12/2001	14/12/2001	-	Active	NO
13	L18100WB1991PLC099782	SAHARA HOUSINGFINA CORPORATION LIMITED	Director	24/08/2002	24/08/2002	-	Active	NO
14	U65110UP2002PLC026986	SAHARA CARE LIMITED	Director	09/10/2002	09/10/2002	20/02/2011	Active	NO
15	U55101MH1989PLC140211	SAHARA HOSPITALITY LIMITED	Director	10/10/2002	10/10/2002	-	Active	NO
16	U65991MH1995PTC155207	SAHARA ASSET MANAGEMENT COMPANY PRIVATE LIMITED	Director	31/05/2004	31/05/2004	-	Active	NO
17	U45201UP2005PTC030827	ERIC CITY HOMES DEVELOPMENT PRIVATE LIMITED	Director	22/09/2007	22/09/2007	-	Active	NO
18	U45400WB2007PTC119271	SAHARA OCEANIA PROPERTY PRIVATE LIMITED	Director	05/10/2007	05/10/2007	21/03/2008	Active	NO
19	U45400WB2007PTC119270	SAHARA MILESTONES INFRASTRUCTURE PRIVATE LIMITED	Director	05/10/2007	05/10/2007	01/02/2008	Active	NO
20	U45400WB2007PTC119268	SAHARA MILESTONES ESTATES PRIVATE LIMITED	Director	05/10/2007	05/10/2007	21/03/2008	Active	NO
21	U45400WB2007PTC119395	SAHARA OCEANIA HOMES PRIVATE LIMITED	Director	09/10/2007	09/10/2007	21/03/2008	Active	NO
22	U45400WB2007PTC119394	SAHARA NEW DREAM PROPERTY PRIVATE LIMITED	Director	09/10/2007	09/10/2007	21/03/2008	Active	NO
23	U45400WB2007PTC119393	SAHARA GREEN PROPERTIES PRIVATE LIMITED	Director	09/10/2007	09/10/2007	21/03/2008	Active	NO
24	U45400WB2007PTC119392	SAHARA FLAGSHIP REALESTATE PRIVATE LIMITED	Director	09/10/2007	09/10/2007	01/02/2008	Active	NO
25	U45400WB2007PTC119391	SAHARA CONTINENTAL ESTATE PRIVATE LIMITED	Director	09/10/2007	09/10/2007	21/03/2008	Active	NO
26	U45400WB2007PTC119390	SAHARA CITY DEVELOPMENT PRIVATE LIMITED	Director	09/10/2007	09/10/2007	21/03/2008	Active	NO
27	U45400WB2007PTC119396	SAHARA PRIME PROPERTIES PRIVATE LIMITED	Director	09/10/2007	09/10/2007	21/03/2008	Active	NO
28	U70100WB2007PTC119474	SAHARA METRO ESTATES PRIVATE LIMITED	Director	11/10/2007	11/10/2007	01/02/2008	Active	NO
29	U14220WB2007PLC119475	SAHARA UNIVERSAL MININGS CORPORATION LIMITED	Director	17/03/2011	11/10/2007	-	Active	NO
30	U70100WB2007PTC119473	SAHARA GREEN SHELTER PRIVATE LIMITED	Director	11/10/2007	11/10/2007	01/02/2008	Active	NO
31	U70100WB2007PTC119472	SAHARA GREEN REALTORS PRIVATE LIMITED	Director	11/10/2007	11/10/2007	01/02/2008	Active	NO
32	U70100WB2007PTC119492	SAHARA PROPERTY CONSTRUCTION PRIVATE LIMITED	Director	12/10/2007	12/10/2007	01/02/2008	Active	NO
33	U70100WB2007PTC119477	SAHARA PRIMEDREAM DEVELOPMENT PRIVATE LIMITED	Director	12/10/2007	12/10/2007	21/03/2008	Active	NO
34	U70100WB2007PTC119476	SAHARA PRIME REALTORS PRIVATE LIMITED	Director	12/10/2007	12/10/2007	21/03/2008	Active	NO
35	U45200MH2006PLC160731	AAMBY VALLEY GLOBAL SPORTS LIMITED	Director	30/09/2011	10/02/2011	22/12/2011	Active	NO
36	U45400MH2011PLC213972	AVL VILLAS LIMITED	Director	24/02/2011	24/02/2011	02/04/2012	Active	NO
37	U74990MH2011PLC214035	SAHARA GLOBAL MASTERCRAFT LIMITED	Director	25/02/2011	25/02/2011	-	Active	NO
38	U74120MH2011PLC214273	SAHARA GLOBAL DESIGN STUDIO LIMITED	Director	02/03/2011	02/03/2011	-	Active	NO
39	U74200MH2012PLC225996	SAHARA Q GOLD MART LIMITED	Director	12/01/2012	12/01/2012	30/03/2013	Active	NO
40	U15122MH2012PLC230786	SAHARA PURE EATABLES CORPORATION LIMITED	Director	09/05/2012	09/05/2012	20/03/2013	Active	NO

Name :

Mrs. Chandni Seemanto Roy

Designation :

Director

Address :

Swapna Kuti, Sahara Shaher, Vipul Khand, Gomti Nagar, Lucknow – 226 010, Uttar Pradesh, India

Date of Birth/Age :

25.11.1975

Date of Appointment :

06.08.2012

DIN No.:

02701932

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	U52300MH2009PTC195181	AUTUMN PEOPLE EXMA PRIVATE LIMITED	Director	24/08/2009	24/08/2009	-	Active	NO
2	U01403MH2010PTC198957	GREEN AND BROWN AGRO PROCESSING PRIVATE LIMITED	Managing director	15/01/2010	15/01/2010	-	Active	NO
3	U92412MH2011PTC219761	ADVENTURE GRID AND SPORTS PRIVATE LIMITED	Director	13/07/2011	13/07/2011	21/02/2012	Active	NO
4	U74990MH2011PLC214035	SAHARA GLOBAL MASTERCRAFT LIMITED	Director	06/08/2012	30/11/2011	-	Active	NO
5	U74120MH2011PLC214273	SAHARA GLOBAL DESIGN STUDIO LIMITED	Director	06/08/2012	30/11/2011	-	Active	NO
6	U45200MH2006PLC160731	AAMBY VALLEY GLOBAL SPORTS LIMITED	Additional director	22/12/2011	22/12/2011	-	Active	NO
7	U15424UP2006PLC031662	BAGHAULI SUGAR AND DISTILLERY LIMITED	Director	29/09/2012	29/09/2012	-	Active	NO
8	U63040WB2003PLC096524	SAHARA INDIA TOURISM DEVELOPMENT CORPORATION LIMITED	Director	27/09/2013	01/05/2013	-	Active	NO
9	U92140MH2013PLC249976	SAHARA OPUS ENTERTAINMENT LIMITED	Director	11/11/2013	11/11/2013	-	Active	NO

Name :

Mrs. Richa Sushanto Roy

Designation :

Director

Address :

Swapna Kuti, Sahara Shaher, Vipul Khand, Gomti Nagar, Lucknow – 226 010, Uttar Pradesh, India

Date of Birth/Age :

24.05.1978

Date of Appointment :

06.08.2012

DIN No.:

03569637

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	U74990MH2011PLC214035	SAHARA GLOBAL MASTERCRAFT LIMITED	Director	06/08/2012	30/11/2011	-	Active	NO
2	U74120MH2011PLC214273	SAHARA GLOBAL DESIGN STUDIO LIMITED	Director	06/08/2012	30/11/2011	-	Active	NO
3	U40101PN2001PLC016565	SAHARA INDIA POWER CORPORATION LIMITED	Director	29/09/2012	26/12/2011	-	Active	NO
4	U70102MH2011PLC213970	AVL LAND HOLDINGS COMPANY LIMITED	Director	27/09/2012	28/12/2011	-	Active	NO
5	U15424UP2006PLC031662	BAGHAULI SUGAR AND DISTILLERY LIMITED	Director	29/09/2012	29/09/2012	-	Active	NO
6	U55204MH2012PLC236735	SAHARA WORLDWIDE LIMITED	Director	12/10/2012	12/10/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Dipesh Kothari
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.09.2013

Names of Shareholders (Equity Shares)	No. of Shares
Subrata Roy Sahara	32500
Swapna Roy	5000
O.P. Srivastava	2500
Kumkum Roy Choudhary	2500
Sushanto Roy	2500
Richa Roy	2500
Chandni Roy	2500
Total	50000

Names of Shareholders (Preference Shares)	No. of Shares
Subrata Roy Sahara	9000
Total	9000

AS ON 25.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	20.00
Other top fifty shareholders	80.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacturing and trading of Lifestyle Products. (Manufacturing will be done through Job Work)

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	D.S. Shukla and Company Chartered Accountants
Address :	GF-2, Ekta Apartments, 125, Chandralok Aliganj, Lucknow – 226 024, Uttar Pradesh, India
Tel. No.:	91-522-2336034
E-Mail :	dsshuklaca@yahoo.co.in
PAN No.:	AADFD7041H
Other related parties commonly controlled or influenced by major shareholders and directors of the company :	· Sahara Global Design Studio Limited · Sahara India Commercial Corporation Limited · Sahara Infrastructure and Housing Limited · Aamby Valley Limited · Sahara India Tourism Development Corporation Limited

CAPITAL STRUCTURE

AS ON 25.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 millions
150000	Preference Shares	Rs.100/- each	Rs.15.000 millions
	Total		Rs.20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 million
9000	Preference Shares	Rs.100/- each	Rs.0.900 million
	Total		Rs.1.400 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	1.400	1.400
(b) Reserves & Surplus	(43.502)	(2.428)
(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)	(42.102)	(1.028)
(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	94.215	36.367
(d) Long-term provisions	0.489	0.152
Total Non-current Liabilities (3)	94.704	36.519
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	1.693	2.693
(c) Other current liabilities	0.304	0.049
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	1.997	2.742
TOTAL	54.599	38.233
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.331	4.201
(ii) Intangible Assets	1.634	0.457
(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	2.467	1.844
Total Non-Current Assets	9.432	6.502
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	38.075	30.911
(e) Short-term loans and advances	7.092	0.820
(f) Other current assets	0.000	0.000
Total Current Assets	45.167	31.731
TOTAL	54.599	38.233

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Revenue from operations	0.000	0.000
		Other Income	3.225	0.407
		TOTAL (A)	3.225	0.407
Less	EXPENSES
		Employee Benefits Expenses	21.325	3.520
		Administration and Other Expenses	20.988	7.019
		TOTAL (B)	42.313	10.539
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(39.088)	(10.132)
Less	FINANCIAL EXPENSES (D)		0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(39.088)	(10.132)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.986	0.396
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(41.074)	(10.528)
Less	TAX (H)		0.000	0.000
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(41.074)	(10.528)
	Earnings / (Loss) Per Share (Rs.)		(821.48)	(210.55)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
PAT / Total Income	(%)	(1273.61)	(2586.73)
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(75.23)	(27.54)
Return on Investment (ROI) (PBT/Networth)		0.98	10.24
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00
Current Ratio (Current Asset/Current Liability)		22.62	11.57

LOCAL AGENCY FURTHER INFORMATION

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 two years	Yes
12) Profitability for last two 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) 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:

No Charges Exist for Company.

FIXED ASSETS:

Tangible Assets

· Office Equipments

· Vehicles

· Computers

Intangible Assets

· Computer Software

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 :	HNA
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
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	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
DEFAULTERS
--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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.