MIRA INFORM REPORT

Report Date :

13.12.2013

IDENTIFICATION DETAILS

Name :	INDO GERMAN INTERNATIONAL PRIVATE LIMITED
Registered Office :	8B, Sagar Apartments, 6 Tilak Marg, New Delhi – 110001, Delhi
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	21.12.1994
Com. Reg. No.:	063676
Capital Investment / Paid-up Capital :	Rs.38.975 Millions
CIN No.: [Company Identification No.]	U74899DL1994PTC063676
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Iron and steel and Commission
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 441732
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The concern 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 – June 30, 2012

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

India’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the traqde deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest.  The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating: B+
Rating Explanation	Risk prone credit quality and very high credit risk.
Date	03.12.2012

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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 DENIED BY

Name :	Mr. Arvind Mishra
Designation :	Account Manager
Contact No.:	91-11-23302592
Date :	12.12.2013

LOCATIONS

Registered Office :	8B, Sagar Apartments, 6 Tilak Marg, New Delhi – 110001, Delhi, India
Tel. No.:	91-11-23382592/23782022/23387413
Fax No.:	91-11-23782806/23382232
E-Mail :	indogerm@del2.vsnl.net.in
Website :	www.somanigroup.com

DIRECTORS

AS ON 30.08.2013

Name :

Mr. Devendra Kumar Somani

Designation :

Director

Address :

B-430, New Friends Colony, New Delhi – 110005, Delhi, India

Date of Birth/Age :

30.08.1931

Date of Appointment :

21.22.1994

DIN No.:

00011164

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	U74899DL1994PTC063676	INDO GERMAN INTERNATIONAL PRIVATE LIMITED	Director	21/12/1994	21/12/1994	-	Active	NO
2	U74899DL1995PTC071554	INDO RUSSIAN INTERNATIONAL PRIVATE LIMITED	Director	09/08/1995	09/08/1995	-	Active	NO
3	U74920DL1987PTC145225	NORTHERN EXIM PRIVATE LIMITED tfr. from kanpur to delhi	Director	28/03/1996	28/03/1996	-	Active	NO
4	U27104DL1996PTC081017	SOMANI KUTTNER INDIA PRIVATE LIMITED	Director	07/08/1996	07/08/1996	-	Active	NO
5	U51109DL2000PTC107554	NORTHERN TRADING PRIVATE LIMITED	Director	05/09/2000	05/09/2000	-	Active	NO
6	U72200DL2000PLC108605	INDOIT REAL ESTATES LIMITED	Director	22/11/2000	22/11/2000	-	Active	NO
7	U45201DL2004PTC123948	SAATVIK HOUSING PRIVATE LIMITED	Director	08/01/2004	08/01/2004	-	Active	NO
8	U45201DL2004PTC123951	MEENA PROPERTIES PRIVATE LIMITED	Director	08/01/2004	08/01/2004	-	Active	NO
9	U70109DL2004PTC130924	SOMANI HOUSING PRIVATE LIMITED	Director	02/12/2004	02/12/2004	-	Active	NO
10	U74899DL1999PTC102567	INDO INVESTMENTS PRIVATE LIMITED	Director	07/06/2005	07/06/2005	-	Active	NO
11	U80301DL2006PLC147755	INDO MACQUARIE EDUCATION SERVICES LIMITED	Director	26/03/2006	26/03/2006	-	Active	NO
12	U74899DL1989PTC035074	AMBER DEVELOPERS PVT LTD	Director	30/03/2006	30/03/2006	-	Active	NO
13	U40102DL2006PLC150604	INDO POWERTECH LIMITED	Director	06/07/2006	06/07/2006	-	Active	NO
14	U15500DL2008PTC172652	UNI - COKE PRIVATE LIMITED	Director	15/01/2008	15/01/2008	-	Active	NO
15	U11200DL2009PTC187229	INDO MERCURIA INTERNATIONAL PRIVATE LIMITED	Director	04/02/2009	04/02/2009	-	Active	NO
16	U51101DL2009PTC196253	Somani Marketing Private Limited	Director	20/11/2009	20/11/2009	-	Active	NO
17	U51109DL2010PTC199699	INDO METALLOYS PRIVATE LIMITED	Director	05/03/2010	05/03/2010	-	Active	NO
18	L80902DL1983PLC209722	EMERGENT GLOBAL EDU AND SERVICES LIMITED	Director	28/09/2010	31/03/2010	-	Active	NO
19	U51909DL2011PTC220671	Mechel Somani Carbon Private Limited	Director	09/06/2011	09/06/2011	-	Active	NO

Name :

Mr. Tarun Kumar Somani

Designation :

Director

Address :

B-430, New Friends Colony, New Delhi – 110005, Delhi, India

Date of Birth/Age :

06.12.1960

Date of Appointment :

21.12.1994

DIN No.:

00011233

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	U74920DL1987PTC145225	NORTHERN EXIM PRIVATE LIMITED tfr. from kanpur to delhi	Director	10/12/1987	10/12/1987	-	Active	NO
2	U74899DL1994PTC063676	INDO GERMAN INTERNATIONAL PRIVATE LIMITED	Director	21/12/1994	21/12/1994	-	Active	NO
3	U74899DL1995PTC071554	INDO RUSSIAN INTERNATIONAL PRIVATE LIMITED	Director	09/08/1995	09/08/1995	-	Active	NO
4	U27104DL1996PTC081017	SOMANI KUTTNER INDIA PRIVATE LIMITED	Director	07/08/1996	07/08/1996	-	Active	NO
5	U74899DL1999PTC102567	INDO INVESTMENTS PRIVATE LIMITED	Director	26/11/1999	26/11/1999	-	Active	NO
6	U72200DL2000PLC108605	INDOIT REAL ESTATES LIMITED	Director	11/10/2001	11/10/2001	-	Active	NO
7	U74999DL2002PTC114185	INDO EDUCATION PRIVATE LIMITED	Director	13/02/2002	13/02/2002	-	Active	NO
8	U74140DL2002PTC113993	PRUDENT APARTMENTS PRIVATE LIMITED	Director	09/09/2003	09/09/2003	-	Active	NO
9	U45201DL2004PTC123949	NORTHERN REALTORS PRIVATE LIMITED	Director	08/01/2004	08/01/2004	-	Active	NO
10	U70109DL2004PTC130924	SOMANI HOUSING PRIVATE LIMITED	Director	02/12/2004	02/12/2004	-	Active	NO
11	U80301DL2006PLC147755	INDO MACQUARIE EDUCATION SERVICES LIMITED	Director	26/03/2006	26/03/2006	-	Active	NO
12	U40102DL2006PLC150604	INDO POWERTECH LIMITED	Director	06/07/2006	06/07/2006	-	Active	NO
13	U15500DL2008PTC172652	UNI - COKE PRIVATE LIMITED	Director	15/01/2008	15/01/2008	-	Active	NO
14	U11200DL2009PTC187229	INDO MERCURIA INTERNATIONAL PRIVATE LIMITED	Director	04/02/2009	04/02/2009	-	Active	NO
15	U51101DL2009PTC196253	Somani Marketing Private Limited	Director	20/11/2009	20/11/2009	-	Active	NO
16	L80902DL1983PLC209722	EMERGENT GLOBAL EDU AND SERVICES LIMITED	Director	28/09/2010	31/03/2010	-	Active	NO
17	U51909DL2011PTC220671	Mechel Somani Carbon Private Limited	Director	09/06/2011	09/06/2011	-	Active	NO

Name :

Mr. Lausvs Burt

Designation :

Director

Address :

Waldhornweg – 2, D – 53773, Haveef, Germany

Date of Birth/Age :

23.03.1947

Date of Appointment :

12.02.2001

DIN No.:

01475343

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	U74899DL1994PTC063676	INDO GERMAN INTERNATIONAL PRIVATE LIMITED	Nominee director	12/02/2001	12/02/2001	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.08.2013

Names of Shareholders	No. of Shares
Devendra Kumar Somani	15
Tarun Kumar Somani	10
Northern Exim Private Limited, New Delhi	194863
Thyssenkrupp Mannex GMBH, Germany	194863
Total	389751

AS ON 30.08.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	49.00
Bodies corporate	49.99
Directors or relatives of Directors	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Iron and steel and Commission

GENERAL INFORMATION

Bankers :	Canara Bank, Overseas Main Branch, B-39, Connaught Place, New Delhi – 110001, Delhi, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Rajendra K Goel and Company Chartered Accountant
Address :	J-288, Ground Floor, Saket, New Delhi – 110007, Delhi, India
Tel No.:	91-11-29551642/29555354
Fax No.:	91-11-29555036
Email :	rajendrakgoelco@gmail.com
Associates :	· Thyssen Krupp Mannex GmbH · Northern Exim Private Limited · Somani Kuttner India Private Limited · Indo Russian International Private Limited · Indo Investments Private Limited · Indoit Real Estates Limited · Indo International Trading FZCO. · Upper India Estates Private Limited · Meena Properties Private Limited · Northern Realtors Private Limited · Saatvik Housing Private Limited · Prudent Apartments Private Limited · Indo Education Private Limited · Indo Macquarie Education Services Limited · Indo Powertech Limited · Amber Developers Private Limited · Northern Trading Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
400000	Equity Shares	Rs.100/- each	Rs.40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
389751	Equity Shares	Rs.100/- each	Rs.38.975 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	38.975	38.975	38.975
(b) Reserves & Surplus	71.458	68.715	65.938
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	110.433	107.690	104.913
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.186	1.136	2.116
Total Non-current Liabilities (3)	1.186	1.136	2.116
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	1.917	5.089	62.802
(c) Other current liabilities	1.904	3.318	3.425
(d) Short-term provisions	2.205	2.533	4.705
Total Current Liabilities (4)	6.026	10.940	70.932
TOTAL	117.645	119.766	177.961
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.978	2.489	3.114
(ii) Intangible Assets	0.001	0.002	0.004
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.500	1.500	1.500
(c) Deferred tax assets (net)	1.940	2.106	1.779
(d) Long-term Loan and Advances	5.642	6.000	6.420
(e) Other Non-current assets	0.115	0.113	37.065
Total Non-Current Assets	11.176	12.210	49.882
(2) Current assets
(a) Current investments	23.194	5.008	20.142
(b) Inventories	0.000	0.000	43.215
(c) Trade receivables	37.264	31.949	36.668
(d) Cash and cash equivalents	29.727	64.153	16.635
(e) Short-term loans and advances	14.885	2.156	2.371
(f) Other current assets	1.399	4.290	9.048
Total Current Assets	106.469	107.556	128.079
TOTAL	117.645	119.766	177.961

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		TOTAL	940.820	1129.710	1441.420
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		3.680	3.370	1.130
Less	TAX		0.940	0.590	0.790
	PROFIT AFTER TAX		2.740	2.780	0.340
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		50.250	47.470	47.130
	BALANCE CARRIED TO THE B/S		52.990	50.250	47.470
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	181.225	298.777	407.977
		Commission Earnings	16.833	12.101
	TOTAL EARNINGS		198.058	310.878	407.977

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.29	0.25	0.03
Net Profit Margin (PBT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.22	2.96	0.66
Return on Investment (ROI) (PBT/Networth)		0.03	0.03	0.01
Debt Equity Ratio (Total Liability/Networth)		NA	NA	NA
Current Ratio (Current Asset/Current Liability)		17.67	9.83	1.81

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last 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	No
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	No
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	Yes

PERFORMANCE

The Directors are pleased to inform that the Subject continued earning profits since its inception in 1994. For the financial year ended March 31, 2013, the subject earned the operating profit of Rs. 3.680 Millions.

The performance of the Subject in the current year was satisfactory. Inspite of very stiff competition and global financial turmoil, the subject continued satisfactorily in the domestic as well as export of iron, steel and ferro alloys.

BUSINESS PROSPECTS FOR THE YEAR 2013-14

Indian economy these days is facing the heat of the Global economic recessionary trends which has substantially slowed down the growth of the Indian economy.

The business for the trading house has become all the more difficult due to increasing of direct contacts of steel producers with steel consumers and big traders through their branches and representative offices in important commercial centres of India and abroad.

The margins have been considerably reduced due to change in the working patterns. Further, there has been a substantial increase in borrowing cost from Banks. Year under review witnessed vast fluctuations in the prices of steel across the globe, which is expected to further continue.

VIEW INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90038654	13/01/2004	51,000,000.00	CANARA BANK	14; K.G. MARG, NEW DELHI, Delhi, INDIA	-
2	90037227	26/06/2007 *	80,000,000.00	CANARA BANK	OVERSEAS MAIN BRANCH, B-39, CONNAUGHT PLACE, NEW DELHI, Delhi - 110001, INDIA	A18483057
3	90036539	01/05/2001	80,000,000.00	CANARA BANK	OVERSEAS BRANCH, 14; K.G. MARG, NEW DELHI, Delhi - 110001, INDIA	-

FIXED ASSETS:

• Furniture and Fixtures
• Office Equipments
• Computers
• Software
• 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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] 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.61.62
UK Pound	1	Rs.100.83
Euro	1	Rs.84.98

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	SDA

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	4
--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	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		28

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.