MIRA INFORM REPORT

Report Date :

05.06.2013

IDENTIFICATION DETAILS

Name :	JAGMINI MICRO KNIT PRIVATE LIMITED
Registered Office :	Jagmini Building, C-19, Panki Industrial Area, Site-I, Kanpur – 208022, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	26.04.1994
Com. Reg. No.:	20-016374
Capital Investment / Paid-up Capital :	Rs. 23.400 Millions
CIN No.: [Company Identification No.]	U18101UP1994PTC016374
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of high quality Knitted Cotton Socks.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 199700
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There appears tremendous increase in the net profitability of the company. Trade relations are fair. Business is active. Payment terms are recorded as usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

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 (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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/Factory :	Jagmini Building, C-19, Panki Industrial Area, Site-I, Kanpur – 208022, Uttar Pradesh, India
Tel. No.:	91-512-2691637/ 2691063
Fax No.:	91-512-2691125
E-Mail :	jag@jagmini.com Jagmini@vsnl.net amitjaiswal69@hotmail.com
Website :	http://www.jagmini.com

DIRECTORS

AS ON 25.09.2012

Name :

Mr. Devendra Mohan Gupta

Designation :

Managing Director

Address :

7/51, Tilak Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Birth/Age :

07.01.1950

Date of Appointment :

01.08.1994

DIN No.:

00226837

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	U24111UP1974PLC004018	KANCHAN PROPERTIES LIMITED	Director	29/03/1982	29/03/1982	-	Active	NO
2	U32101UP1974PTC003975	CLASSIC HOSIERY PRIVATE LIMITED	Director	01/01/1985	01/01/1985	-	Active	NO
3	U18101UP1994PTC016374	JAGMINI MICRO KNIT PRIVATE LIMITED	Managing director	01/08/1994	01/08/1994	-	Active	NO
4	U74899DL1995PLC069581	SPFL SECURITIES LIMITED	Director	10/11/2005	10/11/2005	24/04/2013	Active	NO
5	L22219UP1975PLC004147	JAGRAN PRAKASHAN LIMITED	Director	04/09/2008	29/07/2006	-	Active	NO
6	U67100UP1990PTC011645	JAGRAN MEDIA NETWORK INVESTMENT PRIVATE LIMITED	Director	30/09/2011	21/07/2011	-	Active	NO

Name :

Mr. Shailesh Gupta

Designation :

Director

Address :

7/51, Tilak Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Birth/Age :

07.04.1969

Date of Appointment :

26.04.1994

DIN No.:

00192466

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	Company/ LLP Status	Defaulting status
1	U18101UP1994PTC016374	JAGMINI MICRO KNIT PRIVATE LIMITED	Director	26/04/1994	26/04/1994	Active	NO
2	L22219UP1975PLC004147	JAGRAN PRAKASHAN LIMITED	Whole-time director	01/10/2011	28/11/1994	Active	NO
3	U24999MH1948NPL006309	AUDIT BUREAU OF CIRCULATIONS	Director	24/09/2004	24/09/2004	Active	NO
4	U92199UP2004PTC029300	RAVE MOTI ENTERTAINMENT PRIVATE LIMITED	Director	08/12/2004	08/12/2004	Active	NO
5	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	18/09/2006	18/09/2006	Active	NO
6	U70102UP2007PTC033054	RAVE REAL ESTATE PRIVATE LIMITED	Director	23/03/2007	23/03/2007	Active	NO
7	U72300UP2008PLC036242	MMI ONLINE LIMITED	Director	03/11/2008	03/11/2008	Active	NO
8	U22130MH2008PLC177808	Midday Infomedia Limited	Director	14/07/2011	31/03/2011	Active	NO
9	U67100UP1990PTC011645	JAGRAN MEDIA NETWORK INVESTMENT PRIVATE LIMITED	Director	30/09/2011	21/07/2011	Active	NO
10	U02212MP1996PLC010689	NAIDUNIA MEDIA LIMITED	Director	04/06/2012	31/03/2012	Active	NO
11	U72200MH2006PTC181004	SUVI INFO-MANAGEMENT (INDORE) PRIVATE LIMITED	Director	02/06/2012	31/03/2012	Active	NO

Name :

Mr. Bhanwar Lal Kothiwal

Designation :

Director

Address :

7/94-A, Tilak Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Birth/Age :

28.08.1945

Date of Appointment :

16.07.1994

DIN No.:

00393500

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	U51109UP1979PTC004714	KOTHIWAL COMPANY PRIVATE LIMITED	Managing director	10/01/1979	10/01/1979	-	Active	NO
2	U51101UP1975PTC004199	JAIKOTHIWAL ESTATES PRIVATE LIMITED	Director	08/09/1983	08/09/1983	-	Active	NO
3	U51109UP1984PLC006922	KOTHIWAL TEXTILES LIMITED	Managing director	22/12/1984	22/12/1984	-	Active	NO
4	U18101UP1994PTC016374	JAGMINI MICRO KNIT PRIVATE LIMITED	Director	16/07/1994	16/07/1994	-	Active	NO
5	U65993UP1995PLC017591	KOTHIWAL FINANCE AND INVESTMENT LIMITED	Director	20/02/1995	20/02/1995	-	Active	NO
6	U34300DL2003PTC121154	JAI INFRA REALITY PRIVATE LIMITED	Director	06/07/2006	06/07/2006	-	Active	NO
7	U74999UP2007PTC033093	CHETNA APPARELS PRIVATE LIMITED	Director	31/03/2007	31/03/2007	23/02/2011	Active	NO
8	U15316DL2002PTC116912	IRENES COFFEE COMPANY PRIVATE LIMITED	Director	21/05/2007	21/05/2007	-	Active	NO
9	U74999UP2008PTC035481	CHETANA BUILDWELL PRIVATE LIMITED	Director	18/06/2008	18/06/2008	-	Active	NO
10	U18109UP2008PTC035511	CHETNA CLOTHING PRIVATE LIMITED	Director	20/06/2008	20/06/2008	-	Active	NO
11	U36900DL1988PTC032354	ACE FURNITURE SOLUTIONS PRIVATE LIMITED	Director	09/03/2009	09/03/2009	23/08/2010	Active	NO

Name :

Mr. Surendra Singh Bishnoi

Designation :

Director

Address :

2A/210, Azad Nagar, Kanpur - 208003, Uttar Pradesh, India

Date of Birth/Age :

20.12.1930

Date of Appointment :

16.07.1994

DIN No.:

01095968

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.09.2012

Names of Shareholders	No. of Shares
Saroj Gupta	150000
Sanjay Gupta	150000
Pragati Gupta	150000
Yogendra Mohan Gupta	150000
Sunil Gupta	150000
Sameer Gupta	150000
Pramila Gupta	150000
Shailesh Gupta	150000
Ruchi Gupta	37500
Dhriendra Mohan Gupta	12500
Madhu Gupta	25000
Devesh Gupta	150000
Tarun Gupta	150000
Devendra Mohan Gupta	150000
Raj Gupta	37500
Bharat Gupta	75000
Rahul Gupta	75000
Shailendra Mohan Gupta	137500
Rajni Gupta	200000
Toscom Company Limited, Japan	90000
Total	2340000

AS ON 25.09.2012

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	3.85
Directors or relatives of directors	57.69
Other top fifty shareholders	38.46
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of high quality Knitted Cotton Socks.

Products/ Services :

ITC Code No.	Product Descriptions
6115900	Knitted Socks

PRODUCTION STATUS (AS ON 31.03.2012)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Knitted Socks	(Pairs)	289200	289200	3097377

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Ø Small Industries Development Bank of India, SIDBI Tower, 15 Ashok Marg, Lucknow, Uttar Pradesh, India

Ø Canara Bank, 16/98 The Mall, Kanpur - 208001, Uttar Pradesh, India

Ø ICICI Bank Limited

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Term Loan from Canara Bnak
Loan secured by first charge by way of Hypothecation of all movable of the Borrower including plant, machinery and Equipment acquired/ under the scheme.	9.958	7.890
Deferred Credit Euro Well (Shanghai) Company Limited, China [Bank Guarantee given from Canara Bank on behalf of Company]	0.821	3.588
ICICI Car Loan	0.201	0.420
Export Packing Credit from Canara Bank	13.294	23.328
Total	24.274	35.226

Banking Relations :	--
Auditors :
Name :	J.N. Sharma and Company Chartered Accountants
Address :	58/4, Birhana Road, Kanpur - 208001, Uttar Pradesh, India
Tel. No.:	91-512-2366629/ 3243049/ 2363726
Fax No.:	91-512-2366629/ 3243049/ 2363726
E-Mail :	jnscom@sify.com
Income-tax PAN of auditor or auditor's firm :	AAAFJ6568N

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2,500,000	Equity Shares	Rs. 10/- each	Rs. 25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,340,000	Equity Shares	Rs. 10/- each	Rs. 23.400 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		23.400	23.400	23.400
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		26.526	17.608	20.939
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		49.926	41.008	44.339
LOAN FUNDS
1] Secured Loans		24.274	35.226	22.202
2] Unsecured Loans		42.252	42.966	36.377
TOTAL BORROWING		66.526	78.192	58.579
DEFERRED TAX LIABILITIES		11.102	10.442	5.319
DEFERRED CREDIT		0.000	0.000	3.360
TOTAL		127.554	129.642	111.597
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		77.899	79.057	75.357
Capital work-in-progress		0.134	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	37.382	35.548	31.280
	Sundry Debtors	11.276	14.162	6.334
	Cash & Bank Balances	1.130	1.038	0.601
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	16.844	12.740	11.989
Total Current Assets		66.632	63.488	50.204
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.468	3.143	4.249
	Other Current Liabilities	11.739	8.250	8.481
	Provisions	1.904	1.510	1.234
Total Current Liabilities		17.111	12.903	13.964
Net Current Assets		49.521	50.585	36.240
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		127.554	129.642	111.597

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	141.792	116.620	108.210
		Other Income	2.728	1.317	0.471
		TOTAL (A)	144.520	117.937	108.681
Less	EXPENSES
		Cost of Socks Purchased	0.000	4.199	0.730
		Raw material consumed	67.072	55.745	46.708
		Manufacturing expenses	27.733	24.104	22.778
		Employee benefits expenses	11.534	8.591	8.082
		Other Expenses	11.282	11.269	12.452
		Loss on sale of Assets	0.000	4.841	0.000
		Increase / (Decrease) in Stocks	1.719	(2.522)	(0.695)
		TOTAL (B)	119.340	106.227	90.055
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		25.180	11.710	18.626
Less	FINANCIAL EXPENSES (D)		4.119	2.849	2.272
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		21.061	8.861	16.354
Less/ Add	DEPRECIATION/ AMORTISATION (F)		6.673	6.428	6.056
	PROFIT BEFORE TAX (E-F) (G)		14.388	2.433	10.298
Less	TAX (H)		5.470	0.696	(0.172)
	PROFIT AFTER TAX (G-H) (I)		8.918	1.737	10.471
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		19.213	17.476	7.005
	BALANCE CARRIED TO THE B/S		27.931	19.213	17.476
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	124.599	107.958	100.897
	IMPORTS
		Raw Materials	0.401	0.129	0.733
		Stores & Spares	1.777	1.901	1.326
		Capital Goods	3.470	7.987	10.006
		Others	0.236	0.442	0.527
		Socks	0.000	2.560	0.000
	TOTAL IMPORTS		5.884	13.019	12.592
	Earnings Per Share (Rs.)		3.81	0.74	4.47

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	6.17	1.47	9.63
Net Profit Margin (PBT/Sales)	(%)	10.15	2.09	9.52
Return on Total Assets (PBT/Total Assets}	(%)	9.95	1.71	8.20
Return on Investment (ROI) (PBT/Networth)		0.29	0.06	0.23
Debt Equity Ratio (Total Debt/Networth)		1.33	1.91	1.32
Current Ratio (Current Asset/Current Liability)		3.89	4.92	3.60

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	No
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

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
From Director	42.252	42.966
Total	42.252	42.966

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U18101UP1994PTC016374
Name of the company	JAGMINI MICRO KNIT PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Jagmini Building, C-19, Panki Industrial Area, Site-I, Kanpur – 208022, Uttar Pradesh, India Email: amitjaiswal69@hotmail.com
This form is for	Modification of charge
Charge identification number of the modified	90280137
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	Canara Bank, 16/98 The Mall, Kanpur - 208001, Uttar Pradesh, India Email: jkscoknp@gmail.com
Nature of description of the instrument creating or modifying the charge	1. Supplemental Common Hypothecation Agreement 2. Deed of Hypothecation Re: Machinery (NF-720) 3. Letter evidencing deposit of title deeds for extension of equitable mortgage 4. D.P. Note of Rs.1.500 Millions
Date of instrument Creating the charge	26.10.2012
Amount secured by the charge	Rs. 61.175 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest PC/FDB/FBE-@ 11.25% p.a. with monthly rests. TL(New)-@ 4.50% above BR with a minimum of 15.00% p.a. with monthly rests Terms of Repayment 1.Working Capital Repayable on demand 2.Term Loan-1 and 2 as per existing repayment schedule 3. Term Loan of Rs.4.400 Millions shall be repayable in 36 equal monthly instalments commencing from November' 2012. 35 instalments will be of Rs.0.123 Millions each and last 36th instalment will be of Rs. 0.095 Million. Margin As per sanction terms. Extent and Operation of the charge The Co's movable and immovable properties as mentioned hereunder are hypothecated and mortgaged to secure following credit facilities agg. to Rs.61.175 Millions granted by the Bank to the Borrower:- 1.PC Rs. 24.000 Millions 2.FDB/FBE Rs. 8.000 Millions 3.T/L-I Rs. 8.625 Millions 4.T/L-II Rs. 8.650 Millions 5.T/L-III Rs. 4.400 Millions 6.ILC/FLC Rs. 5.500 Millions 7.BG Rs. 2.000 Millions TOTAL Rs. 61.175 Millions
Short particulars of the property charged	Hypo. of all stock of raw material, work in process, semi finished goods, finished goods, stores & spares etc. of the Borrower situated at Borrower's premises/godowns or elsewhere or in transit. Hypothecation of all the Borrower's present and future book debts, receivables, claims, bills, documents, contract etc. Hypothecation of all plant and machinery, tools and accessories etc. as per Deed of Hypothecation of Machinery Equitable Mortgage of land and building situated at C-19 /A, Panki Industrial Area Site - I Kanpur admeasuring area of 2338.89 square meters.
Date of Modification	28.02.2011
Particulars of the present modification	The aggregate amount of various credit facilities granted by the Bank has now been enhanced from Rs.54.775 Millions to Rs. 61.175 Millions. Therefore, total amount of charge secured against hypothecation of stocks, book debts, plant and machinery etc. and equitable mortgage of company's immovable properties has now been enhanced from Rs.54.775 Millions to Rs.61.175 Millions and Break up of credit facilities

FIXED ASSETS:

Ø Leasehold Land

Ø Factory Buildings

Ø Office Building

Ø Plant and Machinery

Ø Electrical Installations and Fittings

Ø Vehicles

Ø Furniture and Fixture

Ø Computers

Ø Tolls and Implements

Ø Office Equipments

Ø Electrical Equipment

Ø Generating Set

Ø Air Condition

Ø C.W.I.P. Building

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. 56.64
UK Pound	1	Rs. 86.69
Euro	1	Rs. 73.97

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.