1. Summary Information

		Country	India
Company Name	J M COMMODITIES LIMITED	Principal Name 1	Mr. Sanjay Mohanlal Jatia
Status	Moderate	Principal Name 2	Mr. Mohanlal Ramgopal Jatia
		Registration #
Street Address	701, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India
Established Date	01.02.1979	SIC Code
Telephone#	91-22-22834838	Business Style 1	Trader
Fax #	91-22-22851086	Business Style 2	Importer
Homepage	http://www.jmcommodities.com	Product Name 1	Yarn
# of employees	Not Available	Product Name 2	Polymers
Paid up capital	Rs.50,000,000/-	Product Name 3	--
Shareholders	Bodies corporate – 93.12% Directors or relatives of Directors – 6.86% Other top fifty shareholders – 0.02%	Banking	Standard Chartered Bank
Public Limited Corp.	No	Business Period	34 Years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	B (31)
Related Company
Relation	Country	Company Name	CEO
Associates	India	Tarapur Vastra Udyog Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	198,476,000	Current Liabilities	90,038,000
Inventories	93,199,000	Long-term Liabilities	176,864,000
Fixed Assets	13,526,000	Other Liabilities	8,641,000
Deferred Assets	0,000	Total Liabilities	275,543,000
Invest& other Assets	22,485,000	Retained Earnings	2,143,000
		Net Worth	52,143,000
Total Assets	327,686,000	Total Liab. & Equity	327,686,000
Total Assets (Previous Year)	568,019,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	745,759,000	Net Profit	10,095,000
Sales(Previous yr)	654,508,000	Net Profit(Prev.yr)	(44,942,000)

MIRA INFORM REPORT

Report Date :

07.12.2013

IDENTIFICATION DETAILS

Name :	J M COMMODITIES LIMITED (w.e.f.09.04.2012)
Formerly Known As :	J M TEXTILES LIMITED J.M. TEXTILES PRIVATE LIMITED
Registered Office :	701, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	01.02.1979
Com. Reg. No.:	11-020978
Capital Investment / Paid-up Capital :	Rs.50.000 Millions
CIN No.: [Company Identification No.]	U17120MH1979PLC020978
TAN No.: [Tax Deduction & Collection Account No.]	MUMJ11403A
PAN No.: [Permanent Account No.]	AAACJ0264E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader and Importer of Yarn and Polymers.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 210000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The company is progressing well. It has been successful in wiping off its accumulated losses of previous year. Trade relations are reported as fair. Business is active. Payments are reported to be 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	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.

LOCATIONS

Registered Office :	701, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22834838 / 22843825
Fax No.:	91-22-22851086 / 22851086
E-Mail :	ramgopal@vsnl.com srbairagra@jmcommodities.com
Website :	www.jmcommodities.com
Singapore Office :	1, Shenton Way, 10-01, Singapore 068 803
Tel. No.:	91-65-63363700
Fax No.:	91-65-63361400

DIRECTORS

As on 30.09.2013

Name :

Mr. Sanjay Mohanlal Jatia

Designation :

Managing director

Address :

81, Jatia Sadan, Worli Sea Face, Worli, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

21.08.1967

Qualification :

Graduate

Date of Appointment :

21.12.1987

DIN No.:

00913405

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	L17110MH1981PLC024145	RAMGOPAL POLYTEX LIMITED	Director	31/03/1986	31/03/1986	-	Active	NO
2	U17120MH1979PLC020978	J M COMMODITIES LIMITED	Managing director	21/12/1987	21/12/1987	-	Active	NO
3	U25209MH1969PLC014452	QUALITY PLASTICS LIMITED	Director	14/10/1988	14/10/1988	-	Amalgamated	NO
4	L25204PN1974PLC021891	ARISTOCRAT LUGGAGE LIMITED	Director	14/10/1988	14/10/1988	-	Amalgamated	NO
5	L67120MH1995PLC085704	STARCOM INFORMATION TECHNOLOGY LIMITED	Director	17/02/1995	17/02/1995	08/04/2008	Active	NO
6	U17120MH1979PLC020952	RAMGOPAL TEXTILES LIMITED	Director	21/10/2002	21/10/2002	-	Active	NO
7	U67120MH1995PTC089332	NOSTALGIA FINVEST PRIVATE LIMITED	Director	21/10/2002	21/10/2002	08/03/2008	Active	NO
8	U65990MH1980PTC022255	RAMGOPAL INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Director	21/10/2002	21/10/2002	-	Active	NO
9	U17120MH1981PLC024146	RAMGOPAL SYNTHETICS LIMITED	Director	21/10/2002	21/10/2002	-	Active	NO
10	U17116MH1980PTC023469	TARAPUR SYNTHETICS PRIVATE LIMITED	Director	21/10/2002	21/10/2002	-	Active	NO
11	U17110MH1985PTC036679	TARAPUR VASTRA UDYOG PRIVATE LIMITED	Director	21/10/2002	21/10/2002	-	Active	NO
12	U25200MH1972PLC015716	ARISTROCRAT MERKETING LIMITED	Additional director	30/09/2007	30/09/2007	-	Active	NO
13	AAA-8477	HELIOS COMMODITIES LLP	Designated Partner	22/03/2012	22/03/2012	-	Active	NO

Name :

Mr. Mohanlal Ramgopal Jatia

Designation :

Director

Address :

81, Jatia Sadan, Worli Sea Face, Worli, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

13.10.1938

Qualification :

Graduate

Date of Appointment :

01.02.1979

DIN No.:

01598982

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	U17120MH1979PLC020978	J M COMMODITIES LIMITED	Director	01/02/1979	01/02/1979	-	Active	NO
2	L17110MH1981PLC024145	RAMGOPAL POLYTEX LIMITED	Director	28/03/1981	28/03/1981	-	Active	NO
3	L25204PN1974PLC021891	ARISTOCRAT LUGGAGE LIMITED	Director	14/10/1988	14/10/1988	-	Amalgamated	NO
4	U25209MH1969PLC014452	QUALITY PLASTICS LIMITED	Director	14/10/1988	14/10/1988	-	Amalgamated	NO
5	L99999MH1983PLC029186	ESSJAY SYNTHETICS LIMITED	Director	07/05/1994	07/05/1994	-	Active	YES
6	L67120MH1995PLC085704	STARCOM INFORMATION TECHNOLOGY LIMITED	Director	17/02/1995	17/02/1995	08/04/2008	Active	NO
7	U17110MH1985PTC036679	TARAPUR VASTRA UDYOG PRIVATE LIMITED	Director	23/05/2003	23/05/2003	-	Active	NO
8	U17116MH1980PTC023469	TARAPUR SYNTHETICS PRIVATE LIMITED	Director	23/05/2003	23/05/2003	-	Active	NO
9	U17120MH1981PLC024146	RAMGOPAL SYNTHETICS LIMITED	Director	03/10/2006	03/10/2006	-	Active	NO
10	U51109MH2009PTC197085	SSZ COMMODITIES PRIVATE LIMITED	Director	24/12/2010	24/12/2010	29/06/2012	Active	NO
11	AAA-1736	GREENLAND HOLDINGS LLP	Designated Partner	05/07/2010	05/07/2010	-	Active	NO

Name :

Sarwan Kumar Lihala

Designation :

Additional director

Address :

Bungalow No. 7, Magnum Tower, Lokhandwala Complex, 4 Bungalows, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

26.03.1962

Qualification :

Graduate

Date of Appointment :

31.10.2009

DIN No.:

02803520

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	L17110MH1981PLC024145	RAMGOPAL POLYTEX LIMITED	Additional director	01/09/2009	01/09/2009	-	Active	NO
2	U17120MH1979PLC020978	J M COMMODITIES LIMITED	Additional director	31/10/2009	31/10/2009	-	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Mohanlal Ramgopal Jatia	3200
Ramgopal Investment and Trading Company Private Limited, India	149600
Sanjay Mohanlal Jatia	400
Sudhir M. Jatia	300
Sharad S. Jatia	100
Sanjay M. Jatia	12500
Sanjay M. Jatia	14400
Sanjay M. Jatia	3500
Ramgopal Synthetics Limited, India	46000
Ramgopal Textiles Limited, India	120000
Tarapur Synthetics Private Limited, India	150000
Total	500000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Bodies corporate	93.12
Directors or relatives of Directors	6.86
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader and Importer of Yarn and Polymers.

Products :

Product Descriptions	ITC Code
Yarn	54024400
Polymers	39042110

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Standard Chartered Bank, SME Credit, 23-25 M G Road, Fort, Mumbai – 400001, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Loan taken for vehicles	3.014	4.763
Short Term Borrowings
Loan repayable on demand	118.842	69.190
Rupee term loan from bank	15.143	26.467
Total	136.999	100.420

Banking Relations :	--
Auditors :
Name :	Rungta and Associates Chartered Accountants
Address :	504, Rainbow Chambers, S V Road, Kandivali West, Mumbai – 400067, Maharashtra, India
Tel. No.:	91-22-28625153 / 5129
Fax No.:	91-9820354138
E-Mail :	pawankumar.rungta@rediffmail.com
PAN No.:	ADHPR0232P
Associates :	Tarapur Vastra Udyog Private Limited CIN No.: U17110MH1985PTC036679

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs. 100/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs. 10 0/- each	Rs.50.000 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	50.000	50.000
(b) Reserves & Surplus	2.143	(7.952)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	264.500
Total Shareholders’ Funds (1) + (2)	52.143	306.548
(3) Non-Current Liabilities
(a) long-term borrowings	3.014	4.763
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.561	0.667
Total Non-current Liabilities (3)	3.575	5.430
(4) Current Liabilities
(a) Short term borrowings	173.850	100.358
(b) Trade payables	89.253	143.018
(c) Other current liabilities	8.641	12.550
(d) Short-term provisions	0.224	0.115
Total Current Liabilities (4)	271.968	256.041
TOTAL	327.686	568.019
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13.526	14.914
(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	1.870	1.238
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	13.725	8.834
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	29.121	24.986
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	93.199	92.544
(c) Trade receivables	130.106	141.182
(d) Cash and cash equivalents	15.920	16.917
(e) Short-term loans and advances	38.725	270.076
(f) Other current assets	20.615	22.314
Total Current Assets	298.565	543.033
TOTAL	327.686	568.019

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		50.000
2] Share Application Money		0.000
3] Reserves & Surplus		37.020
4] (Accumulated Losses)		0.000
NETWORTH		87.020
LOAN FUNDS
1] Secured Loans		22.141
2] Unsecured Loans		41.010
TOTAL BORROWING		63.151
DEFERRED TAX LIABILITIES		0.000
TOTAL		150.171
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		15.451
Capital work-in-progress		0.000
INVESTMENT		1.238
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	59.907
	Sundry Debtors	193.292
	Cash & Bank Balances	16.035
	Other Current Assets	0.000
	Loans & Advances	25.721
Total Current Assets		294.955
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	154.374
	Other Current Liabilities	3.166
	Provisions	3.933
Total Current Liabilities		161.473
Net Current Assets		133.482
MISCELLANEOUS EXPENSES		0.000
TOTAL		150.171

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		745.759	654.508	1046.956
		Other Income		21.496	8.711	15.437
		TOTAL (A)		767.255	663.219	1062.393
Less	EXPENSES
		Purchase of Stock-in-trade		699.562	658.413	116.963
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(0.655)	(32.638)	0.000
		Manufacturing service costs		0.000	0.000	863.067
		Administrative selling other expenses		0.000	0.000	50.594
		Employee Benefits Expenses		2.692	3.459	2.329
		Other Expenses		34.534	65.722	0.000
		TOTAL (B)		736.133	694.956	1032.953
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			31.122	(31.737)	29.440
Less	FINANCIAL EXPENSES (D)			19.420	11.614	13.136
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			11.702	(43.351)	16.304
Less	DEPRECIATION/ AMORTISATION (F)			1.607	1.591	0.678
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			10.095	(44.942)	15.626
Less	TAX (H)			0.000	0.000	3.360
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			10.095	(44.942)	12.266
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			(14.463)	30.479	18.213
	BALANCE CARRIED TO THE B/S			(4.368)	(14.463)	30.479
	IMPORTS
			CIF Value of Import	590.230	416.972	549.736
	TOTAL IMPORTS
	Earnings Per Share (Rs.)			20.19	(89.94)	24.53

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.32	(6.78)	1.15
Net Profit Margin (PBT/Sales)	(%)	1.35	(6.87)	1.49
Return on Total Assets (PBT/Total Assets}	(%)	3.23	(8.05)	5.03
Return on Investment (ROI) (PBT/Networth)		0.19	(0.15)	0.18
Debt Equity Ratio (Total Debt /Networth)		3.39	0.34	0.73
Current Ratio (Current Asset/Current Liability)		1.10	2.12	1.83

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	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

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Short Term Borrowings
Intercorporate Deposits	39.865	4.701
Total	39.865	4.701

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90241306	25/10/2008 *	240,000,000.00	Standard Chartered Bank	SME Credit, 23-25, M G Road, Fort, Mumbai, Maharashtra - 400001, INDIA	A51439222

*Date of modification Charges

FIXED ASSETS:

· Computers

· Office Equipments

· Motor Car

· Land and Building

· Plant and Machinery

· Vehicles

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.61.67
UK Pound	1	Rs.100.65
Euro	1	Rs.84.25

INFORMATION DETAILS

Report Prepared by :

VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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		31

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.