1. Summary Information

		Country	India
Company Name	APSOM INFOTEX LIMITED	Principal Name 1	Anadi
Status	Satisfactory	Principal Name 2	Madhu Sudan Dadu
		Registration #	55-054306
Street Address	A-53, Okhla Industrial, Area – II, New Delhi – 110020
Established Date	05.07.1993	SIC Code	--
Telephone#	91-11-26385096/26/38	Business Style 1	Trading
Fax #	91-11-26385097	Business Style 2	-
Homepage	Not Available	Product Name 1	Inkjet wide Format Printers
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 9,792,000/-	Product Name 3	--
Shareholders	Bodies corporate – 20.42% Directors or relatives of Directors – 79.58 %	Banking	The Bank of Rajasthan Limited
Public Limited Corp.	No	Business Period	20 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (45)
Related Company
Relation	Country	Company Name	CEO
Related Parties	--	Anirudh Investment and Leasing Service Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	144,944,000	Current Liabilities	99,671,000
Inventories	79,293,000	Long-term Liabilities	35,740,000
Fixed Assets	15,556,000	Other Liabilities	51,093,000
Deferred Assets	0,000	Total Liabilities	186,504,000
Invest& other Assets	0,000	Retained Earnings	30,997,000
		Net Worth	53,289,000
Total Assets	239,793,000	Total Liab. & Equity	239,793,000
Total Assets (Previous Year)	148,386,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	582,800,000	Net Profit	9,556,000
Sales(Previous yr)	568,979,000	Net Profit(Prev.yr)	5,441,000

MIRA INFORM REPORT

Report Date :

25.06.2013

IDENTIFICATION DETAILS

Name :	APSOM INFOTEX LIMITED
Formerly Known As :	APSOM COMPUTERS PRIVATE LIMITED
Registered Office :	A-53, Okhla Industrial, Area – II, New Delhi – 110020
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	05.07.1993
Com. Reg. No.:	55-054306
Capital Investment / Paid-up Capital :	Rs. 9.792 Millions
CIN No.: [Company Identification No.]	U74899DL1993PLC054306
PAN No.: [Permanent Account No.]	AAACA6162C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trading in Inkjet wide Format Printers
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 210000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual trade terms and condition.

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

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 / Head Office:	A-53, Okhla Industrial, Area – II, New Delhi – 110020, India
Tel. No.:	91-11-26385096/26/38
Fax No.:	91-11-26385097
E-Mail :	account@apsom.com sales@apsom.com
Branch Office:	Located at · Bengaluru · Bhopal · Bhubaneshwar · Chandigarh · Chennai · Cochin · Goa · Hyderabad · Indore · Jaipur · Kanpur · Kolkata · Lucknow · Ludhiana · Madurai · Mumbai · Nagpur · Patna

DIRECTORS

As on 22.09.2012

Name :

Anadi

Designation :

Whole – time Director

Address :

7, Toot Sarai, Malviya Nagar, New Delhi – 110017, India

Date of Birth/Age :

09.09.1958

Date of Appointment :

18.12.2008

DIN No.:

00002308

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	U51395DL2004PTC125667	AKS DIGITAL SOLUTIONS PRIVATE LIMITED	Director	06/04/2004	06/04/2004	-	Active	NO
2	U74899DL1993PLC054306	APSOM INFOTEX LIMITED	Whole-time director	18/12/2008	18/12/2008	-	Active	NO

Name :

Mr. Madhu Sudan Dadu

Designation :

Whole – time Director

Address :

A-21, Sector – 27, G B Nagar, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

05.06.1963

Date of Appointment :

01.04.2011

DIN No.:

00046867

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	U51900MH1994SGC077094	REN TECHNOLOGIES INDIA LIMITED CN	Director	07/09/1996	07/09/1996	-	Active	NO
2	U74899DL1993PLC054306	APSOM INFOTEX LIMITED	Whole-time director	01/04/2011	02/03/1998	-	Active	NO
3	U36991UP1995PLC018203	COLORJET INDIA LIMITED	Director	23/02/2000	23/02/2000	-	Active	NO
4	U74899DL2000PTC104450	CONVERGENCE MULTIMEDIA TECHNOLOGIES PRIVATE LIMITED	Director	26/05/2003	26/05/2003	-	Active	NO
5	U30007DL2004PTC129347	KVM DIGITAL TECHNOLOGIES INDIA PRIVATE LIMITED	Director	22/09/2011	23/09/2004	-	Active	NO

Name :

Ms. Kirti Vijay Sharma

Designation :

Director

Address :

B-3/3, Janakpuri, New Delhi – 110058, India

Date of Birth/Age :

14.08.1962

Date of Appointment :

30.11.2006

DIN No.:

00047702

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	U30007DL2004PTC129347	KVM DIGITAL TECHNOLOGIES INDIA PRIVATE LIMITED	Director	23/09/2004	23/09/2004	22/01/2011	Active	NO
2	U74899DL1993PLC054306	APSOM INFOTEX LIMITED	Director	30/11/2006	30/11/2006	-	Active	NO
3	U72200DL2001PTC111112	BRAHM SYSTEM PRIVATE LIMITED	Director	04/01/2007	04/01/2007	-	Active	NO
4	U29292DL2009PTC191214	UV PRINTERS INDIA PRIVATE LIMITED	Director	15/06/2009	15/06/2009	-	Active	NO

Name :

Mr. Gulshan Kumar Alwadhi

Designation :

Whole – time Director

Address :

136/12, Gohana Adda, Rohtak – 124001, Haryana, India

Date of Birth/Age :

06.02.1972

Date of Appointment :

22.09.2012

DIN No.:

06394462

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	U74899DL1993PLC054306	APSOM INFOTEX LIMITED	Director	22/09/2012	26/08/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 22.09.2012

Names of Shareholders	No. of Shares
Kirti Vijay Sharma	363800
Madhu Sudan Dadu	336650
U S Dadu	2250
Om Prakash Dadu	13100
Gautam Sethi	10
Shail Dadu	5650
S N Gupta	10
Sunil Mittal	10
Priti Dadu	57750
KVM Digital Technologies India Private Limited, India	200000
Total	979230

Equity Share Break up (Percentage of Total Equity)

As on 22.09.2012

Category	Percentage
Bodies corporate	20.42
Directors or relatives of Directors	79.58
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading in Inkjet wide Format Printers
Products:	· Apparel · Auto Restyling · Banners · Colour Proofing · Photo Impact Printers · Printers

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· The Bank of Rajasthan Limited, E-17, 1^st Floor, South Extn – II, New Delhi – 110049, India

· ICICI Bank Limited, E-17, First Floor, South Extension Part – II, New Delhi – 110049, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long-term Borrowings - Secured Loan	18.787	17.122
Total	18.787	17.122

Banking Relations :	--
Auditors :
Name :	Agarwal Seth and Company Chartered Accountants
Address :	212A, Ocean Plaza, Sector – 18, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-3052800/900
Fax No.:	91-120-2510589
E-Mail :	noida@agarwalseth.com vsa-id@eth.net roc@agarwalseth.com
Website:	www.agarwalseth.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAGFV1816M
Related Parties:	· Anirudh Investment and Leasing Service Private Limited · Apsom Infotex (S) PTY Limited · AKS Digital Solutions Private Limited · Colorjet India Limited · Convergence Multimedia technologies India Private Limited · KVM Digital Technologies India Private Limited · Ren TechnoLogies India Limited · Ukiah Software Solution

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
4750000	Equity Shares	Rs.10/- each	Rs.47.500 Millions
250000	Preference Shares	Rs.10/- each	Rs.2.500 Millions
	Total		Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
979230	Equity Shares	Rs.10/- each	Rs. 9.792 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	9.792	9.792
(b) Reserves & Surplus	30.997	21.192
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	12.500	12.500
Total Shareholders’ Funds (1) + (2)	53.289	43.484
(3) Non-Current Liabilities
(a) long-term borrowings	35.740	39.273
(b) Deferred tax liabilities (Net)	0.935	0.979
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	36.675	40.252
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	98.736	109.534
(c) Other current liabilities	47.693	48.817
(d) Short-term provisions	3.400	3.000
Total Current Liabilities (4)	149.829	161.351
TOTAL	239.793	245.087
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	15.556	17.376
(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	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	1.972	1.710
Total Non-Current Assets	17.528	19.086
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	79.293	52.656
(c) Trade receivables	89.068	115.074
(d) Cash and cash equivalents	4.088	10.740
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	49.816	47.531
Total Current Assets	222.265	226.001
TOTAL	239.793	245.087

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		19.792
2] Share Application Money		0.000
3] Reserves & Surplus		15.770
4] (Accumulated Losses)		0.000
NETWORTH		35.562
LOAN FUNDS
1] Secured Loans		11.299
2] Unsecured Loans		1.890
TOTAL BORROWING		13.189
DEFERRED TAX LIABILITIES		1.090
TOTAL		49.841
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		17.430
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	53.693
	Sundry Debtors	98.971
	Cash & Bank Balances	8.659
	Other Current Assets	0.000
	Loans & Advances	43.012
Total Current Assets		204.335
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	109.533
	Other Current Liabilities	60.091
	Provisions	2.200
Total Current Liabilities		171.824
Net Current Assets		32.511
MISCELLANEOUS EXPENSES		0.000
TOTAL		49.941

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	582.800	568.979	499.432
		Other Income	11.936	2.207	2.980
		TOTAL (A)	594.736	571.186	502.412
Less	EXPENSES
		Purchases of Stock in Trade	487.278	455.429
		Changes in inventories of Stock in Trade	(16.674)	2.450
		Employee benefit expense	49.760	35.545
		Marketing, Administration & Other Expenses	54.803	61.508
		Prior Period Expenses	0.050	0.043
		TOTAL (B)	575.217	554.975	493.583 (Including Financial Expenses)
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		19.519	16.211
			4.344	5.670
Less	FINANCIAL EXPENSES (D)
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.175	10.541	8.829
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.263	2.210	2.041
	PROFIT BEFORE TAX (E-F) (G)		12.912	8.331	6.788
Less	TAX (H)		3.356	2.890	2.215
	PROFIT AFTER TAX (G-H) (I)		9.556	5.441	4.573
	EARNINGS IN FOREIGN CURRENCY
	FOB Value of Exports		22.064	15.997	1.539
	Value of Services Exported		8.220	0.846	1.132
	TOTAL EARNINGS		30.284	16.843	2.671
	IMPORTS
	C.I.F. value of Imports		266.313	223.599	223.394
	Earnings Per Share (Rs.)		9.76	5.56	5.86

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.61	0.95	0.91
Net Profit Margin (PBT/Sales)	(%)	2.22	1.46	1.36
Return on Total Assets (PBT/Total Assets}	(%)	5.38	3.40	3.32
Return on Investment (ROI) (PBT/Networth)		0.24	0.19	0.19
Debt Equity Ratio (Total Debt /Networth)		0.67	0.90	0.37
Current Ratio (Current Asset/Current Liability)		1.48	1.40	1.19

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

PERFORMANCE

The overall performance of the Company is satisfactory.

UNSECURED LOAN

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long-term Borrowings
Term Loan
From banks	14.713	21.655
From other parties	2.022	0.000
Loans and advances from related parties	0.218	0.204
Other Loans and Advances	0.000	0.292
Total	16.953	22.151

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74899DL1993PLC054306
Name of the company	APSOM INFOTEX LIMITED
Address of the registered office or of the principal place of business in India of the company	A-53, Okhla Industrial, Area – II, New Delhi – 110020, India Email: accounts@apsom.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90042293
Type of charge	· Book debts · Movable property (not being pledge)
Particular of charge holder	CIN: U74899DL1993PLC054306 ICICI Bank Limited, E-17, First Floor, South Extension Part – II, New Delhi – 110049, India Email: ajit.dayama@icicibank.com
Nature of instrument creating charge	Supplemental deed of hypothecation.
Date of instrument Creating the charge	10.02.2012
Amount secured by the charge	Rs.35.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest I-Base + 3.50% p.a., plus applicable interest tax or other statutory levy, if any. As on date I-Base is at 10.00% p.a., spread is 3.50% p.a. and the applicable interest rate as on date is 13.50%. Terms of Repayment Payable on demand Margin 30% in case of cash credit, 25% in case of book debts, 25% in case of Letter of Credit (DP/DA), 25% in case of buyer's credit Extent and Operation of the charge Full and continuous operations Others 2ONE
Short particulars of the property or asset(s) charged (including complete address and location of the property)	1st charge on all book debts, o/s moneys, receivable claims and Bills due and owing to the Company by any person, firm, company, or govt. All products, goods of any kind belonging to the borrower including digital printing machines, computers and other related goods 1st charge on goods covered by the documents accompanying the bills and/or their sale proceeds and/or said bills and/or amt. therof
Date of instrument modifying the charge	17.03.2008
Particulars of the present modification	Total credit limit of the Company enhanced from Rs. 33.000 Millions to Rs. 35.000 Millions, as detailed below :- Description Existing Limit Enhanced Limit CC Hypothecation - Stocks Rs. 10.000 Millions Rs.20.000 Millions (Including Sub limit for Buyer's Credit of Rs.10.000 Millions) Waue Rs. 0.500 Millions -------------- Import LC (DP/DA 90 days) Rs.22.500 Millions Rs.15.000 Millions Total 35.000 Millions

CONTINGENT LIABILITIES:

· Rs.11.213 Millions (PY Rs.20.963 Millions) on account of Foreign Letter of Credit opened by Bank on our behalf on margin of Rs.2.208 Millions (PY Rs.7.303 Millions) in shape of FDR pledged with the Bank

· Rs.0.275 Millions (PY Rs.1.240 Millions)o n account of Bank Guarantee opened by the Bank on our behalf on Margin of Rs.0.275 Millions ( PY Rs.1.240 Millions in shape of FDR of Rs. Rs.0.275 Millions (PY Rs.1.240 Millions)

· Claims made against the Company Rs.0.782 Millions (PY Rs.0.782 Millions) by the customers for refund of payments made by them

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.59.73
UK Pound	1	Rs.91.82
Euro	1	Rs.78.23

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
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	5
--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		45

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.