MIRA INFORM REPORT

Report Date :

29.06.2013

IDENTIFICATION DETAILS

Name :	SCOPE T AND M PRIVATE LIMITED
Formerly Known As :	SPECIFIC CYBERNETICS PRIVATE LIMITED
Registered Office :	402, Aurus Chambers Premises Co-operative Housing Society, A-402, 4^th Floor, C.S. No. 286 Part, S.S. Amrutwar Marg, Worli, Mumbai-400013, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	13.01.1988
Com. Reg. No.:	11-217675
Capital Investment / Paid-up Capital :	Rs.14.956 Millions
CIN No.: [Company Identification No.]	U74140MH1988PTC217675
TAN No.: [Tax Deduction & Collection Account No.]	MUMS72111E
PAN No.: [Permanent Account No.]	AABCS5002J
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of Design, Manufacture, Trading, Sales and Service of Test and Measuring Equipments, Aluminum Cases. Protection and Control Relay Panels.
No. of Employees :	275 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 352000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears some dip in its profitability during 2012. However, general financial position seems to be strong. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BB [Long Term]
Rating Explanation	Having moderate risk of default regarding timely regarding of financial obligation.
Date	07.07.2012

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Ketan
Designation :	Office Executive
Contact No.:	91-22-43444244
Date :	28.06.2013

LOCATIONS

Registered / Corporate Office :	Aurus Chambers Premises Co-operative Housing Society, A-402, 4^th Floor, C.S. No. 286 Part, S.S. Amrutwar Marg, Worli, Mumbai-400013, Maharashtra, India
Tel. No.:	91-22-43444244
Fax No.:	91-22-43444242
E-Mail :	marketing@scopetnm.com dipti.samant@scopetnm.com
Website :	http://www.scopetnm.com
Location :	Owned
Factory :	EL 31/11, J Block, MIDC Bhosari, Pune-411026, Maharashtra, India
Tel. No.:	91-20-67333999
Fax No.:	91-20-67333900
E-Mail :	works@scopetnm.com

DIRECTORS

AS ON 23.07.2012

Name :

Mr. Sanjay Chintaman Kulkarni

Designation :

Director

Address :

19 and 20, Manjiri, Mahim Makarand Co-operative Housing Society, Mahim, Mumbai-400016, Maharashtra, India

Date of Birth/Age :

22.02.1955

Date of Appointment :

13.01.1988

Din No.:

00278350

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	U74140MH1988PTC217675	SCOPE T AND M PRIVATE LIMITED	Director	13/01/1988	13/01/1988	Active	NO
2	U51909PN2006PTC022209	ISOSCELES SALES AND SERVICE PRIVATE LIMITED	Managing director	23/07/2007	23/03/2006	Active	NO
3	U31900MH2010PTC210323	NR SCOPE ELECTRIC PRIVATE LIMITED	Director	25/11/2010	25/11/2010	Active	NO

Name :

Mrs. Swati Sanjay Kulkarni

Designation :

Director

Address :

19 and 20, Manjiri, Mahim Makarand Co-operative Housing Society, Mahim, Mumbai-400016, Maharashtra, India

Date of Birth/Age :

07.05.1961

Date of Appointment :

29.06.2010

Din No.:

02404896

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	U51909PN2006PTC022209	ISOSCELES SALES AND SERVICE PRIVATE LIMITED	Director	13/07/2009	04/12/2008	Active	NO
2	U74140MH1988PTC217675	SCOPE T AND M PRIVATE LIMITED	Director	29/06/2010	04/01/2010	Active	NO
3	U31900MH2010PTC210323	NR SCOPE ELECTRIC PRIVATE LIMITED	Director	25/11/2010	25/11/2010	Active	NO

KEY EXECUTIVES

Name :	Ms. Dipti Dilip Samant
Designation :	Secretary
Address :	303, 4^th Floor, Laxmi Niwas Co-operative Housing Society, Baji Prabhu Deshpande Parth, Vishnunagar, Thane-400602, Maharashtra, India
Date of Birth/Age :	23.12.1982
Date of Appointment :	06.02.2012
Pan No.:	BKAPS8727B
Name :	Mr. Ketan
Designation :	Office Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 23.07.2012

Names of Shareholders	No. of Shares
Sanjay Chintaman Kulkarni	118602
Swati Sanjay Kulkarni	23040
Sanjay Chintaman Kulkarni HUF	7920
TOTAL	149562

AS ON 23.07.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of Design, Manufacture, Trading, Sales and Service of Test and Measuring Equipments, Aluminum Cases. Protection and Control Relay Panels.
Exports :
Products :	Electrical Testing Equipments
Countries :	European and Asian Countries
Terms :
Selling :	Cash and Credit [30 and 60 Days]
Purchasing :	Cash and Credit [30 and 60 Days]

GENERAL INFORMATION

Customers :

Retailers and OEM’s

No. of Employees :

275 [Approximately]

Bankers :

State Bank of India, Deccan Gymkhana Branch, 2^nd Floor, PMT Building, Shirole Bhavan, Pune-411004, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Long Term Borrowings
From Banks
Term loan from State Bank of India [Hypothecation of Worli Office Premises and Guaranteed by Directors]	0.000	5.021
Vehicles Loan From SBI Mumbai [Secured by hypothecation of vehicles]	1.374	1.820
Short Term Borrowings
From Banks
Corporate Loan From State Bank of India (Hypothecation of Worli Office Premises and Guaranteed by Directors)	15.215	30.413
Vehicles Loan From Mumbai [Secured by hypothecation of vehicles]	0.446	0.415
Cash Credit From State Bank of India [Secured by hypothecation of stocks, debtors and guaranteed by directors]	28.610	14.463
TOTAL	45.645	52.132

Banking Relations :	--
Auditors :
Name :	P A A and Company Chartered Accountants
Address :	3, Ashlesha ‘A’ Apartment, Survey No. 15/12, Kothrud, Pune-411038, Maharashtra, India
PAN No:	AAZPA4640B

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.100/- each	Rs.15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
149562	Equity Shares	Rs.100/- each	Rs.14.956 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	14.956	14.956
(b) Reserves & Surplus	73.101	52.297
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	88.057	67.253
(3) Non-Current Liabilities
(a) long-term borrowings	1.374	6.841
(b) Deferred tax liabilities (Net)	10.877	10.753
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	12.251	17.594
(4) Current Liabilities
(a) Short term borrowings	60.566	45.491
(b) Trade payables	32.423	31.147
(c) Other current liabilities	3.010	4.034
(d) Short-term provisions	61.075	57.360
Total Current Liabilities (4)	157.074	138.032
TOTAL	257.382	222.879
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	70.358	57.165
(ii) Intangible Assets	0.824	1.176
(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	0.000	0.000
Total Non-Current Assets	71.182	58.341
(2) Current assets
(a) Current investments	0.001	0.001
(b) Inventories	24.340	27.180
(c) Trade receivables	90.010	90.637
(d) Cash and cash equivalents	9.350	5.324
(e) Short-term loans and advances	41.975	36.675
(f) Other current assets	20.524	4.721
Total Current Assets	186.200	164.538
TOTAL	257.382	222.879

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		14.956
2] Share Application Money		0.000
3] Reserves & Surplus		27.558
4] (Accumulated Losses)		0.000
NETWORTH		42.514
LOAN FUNDS
1] Secured Loans		32.816
2] Unsecured Loans		10.189
TOTAL BORROWING		43.005
DEFERRED TAX LIABILITIES		4.579
TOTAL		90.098
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		47.641
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.560
	Sundry Debtors	63.853
	Cash & Bank Balances	9.937
	Other Current Assets	0.000
	Loans & Advances	22.957
Total Current Assets		104.307
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	14.500
	Other Current Liabilities	5.147
	Provisions	42.203
Total Current Liabilities		61.850
Net Current Assets		42.457
MISCELLANEOUS EXPENSES		0.000
TOTAL		90.098

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	NET SALES AND SERVICE INCOME		255.945	211.648	144.656
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		36.757	49.943	15.697
Less/ Add	DEPRECIATION/ AMORTISATION		3.595	1.992	2.637
	PROFIT / (LOSS) BEFORE TAX		33.162	47.951	13.060
Less	TAX		10.620	16.236	5.696
	PROFIT / (LOSS) AFTER TAX		22.542	31.715	7.364
Less	APPROPRIATIONS
		Transfer to General Reserve	2.255	3.172	0.737
		Interim Dividend	0.000	4.487	0.000
		Proposed Dividend	1.496	1.496	5.534
		Tax on Distributed Profit	0.243	0.994	0.940
	BALANCE CARRIED TO THE B/S		18.548	21.566	0.153
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	10.597	4.132	NA
	Earnings / (Loss) Per Share (Rs.)		150.72	212.05	49.23

Particulars	31.03.2013
Sales Turnover [Approximately]	260.000

Expected Sales (2013-14) : Rs.350.000 Millions.

The above information has been parted by Mr. Ketan.

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	12.88	21.51	9.03
Return on Investment (ROI) (PBT/Networth)		0.37	0.71	8.60
Debt Equity Ratio (Total Debt/Networth)		0.70	0.77	1.01
Current Ratio (Current Asset/Current Liability)		1.19	1.19	1.69

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

NOTE:

The registered office of the company has been shifted from 1/4 Lokmanyanagar L B S Road Pune-411030, Maharashtra, India to the present address w.e.f.28.04.2011.

CORPORATE INFORMATION:

Subject is into the business of Design, Manufacture, Trading, Sales and Service of Test and Measuring Equipments, Aluminum Cases. Protection and Control Relay Panels.

PERFORMANCE:

The company has done the sales of Rs.255.945 Millions for this year. This is particularly creditable considering that there has been no addition to manufacturing capacity in terms of machinery or manpower.

FINANCE:

The company has registered a profit before depreciation and tax on Rs.36.790 Millions, and the reserves and surplus of the company stand at Rs.73.101 Millions as at 31.03.2012. Value of gross block of fixed assets has increased from Rs.73.862 Millions to Rs.92.298 Millions in the last year.

Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Short Term Borrowings
Deposits
From Directors	16.295	0.200
TOTAL	16.295	0.200

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	90087485
Corporate identity number of the company	U74140MH1988PTC217675
Name of the company	SCOPE T AND M PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Aurus Chambers Premises Co-operative Housing Society, A-402, 4^th Floor, C.S. No. 286 Part, S.S. Amrutwar Marg, Worli, Mumbai-400013, Maharashtra, India
Type of charge	Book Debts Movable Property [not being pledge] Others Immovable Property
Particular of charge holder	State Bank of India, Deccan Gymkhana Branch, 2^nd Floor, PMT Building, Shirole Bhavan, Pune-411004, Maharashtra, India Email: shrikrishna.joshi@sbi.co.in
Nature of description of the instrument creating or modifying the charge	Supplemental Agreement of Loan-cum-Hypothecation(SME-4)& Memorandum for recording extension of Mortgage by Deposit of Title Deeds covering enhanced limits and /or creation of Equitable Mortgage on additional Properties for existing limits and enhanced limits and additional facilities(SME-7)Both the documents executed to secure the enhanced limit sanctioned by the Bank to the Borrower Company.
Date of instrument Creating the charge	25.09.2012
Amount secured by the charge	Rs.156.827 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest @3.75%margin above Base Rate. Effective rate: 13.75%p.a.with monthly rests(SB-6rated Unit) for LC/BG the commission as per Bank's Norms. Penal Interest on default as per RBI's directives time to time. Terms of Repayment DCC: On Demand. The tenor would be of 12 months. The exiting Corporate Term Loan repayment will be monitored as per existing process. Margin RM: Imported and Indigenous:25%Semi Finished Goods and Finished Goods:30%.Domestic Receivables (Cover period 180 days):40% LC and BG:15% Extent and Operation of the charge SBI Deccan Gymkhana Br. Pune will have first charge over all the present and future tangible and current assets and the assets that would come into existence through this credit facilities. For Term Loan the Security through EM of Properties Office Premises located at Aurus Chambers Worli Mumbai. For Corporate Loan1st charge on the current assets of the company. Collateral Security as denoted in the Sanction Letter itself. The Directors have set Personal Guarantee for the repayment entire loan. Others The Company, by virtue of the Board Resolution dated 21/09/2012,has given assent to all the Terms & Conditions, Covenants, as provided in the Bank's Sanction Letter No. DG/ADV/2012-13Dt.17/09/2012 & have executed the related loan document(s)/Agreement(s) through the Director(s), who have received and signed the documents in physical form and have authorized one of the Directors to file eform-8 for the modifications in the existing limits and in the nature and scope of the charge on agreed terms.
Short particulars of the property charged	All the present and future current assets inclusive of book debts and record maintained thereof at Registered Office and at the works of the Company as denoted by the Company to Bank time to time. EM of Office Premises at 402,4th floor C.S.No.286 (Part) Aurus Chambers Annex A, Lower Parel Division, Opp. BDD chawl, Amruteshwar Marg Worli Mumbai adm approx 3321 Sq. Feets. Collateral Security: EM of Factory Building EL31/11 J Block MIDC Bhosari Pune owned by the Company lease hold land area 4447 sq. mtrs building G+1storied RCC framed structure. Collateral Security: EM of Industrial Gala No.31&32 Satyam Estate Gr. Floor S, No.163, 164 Rear Side of CDSS Erandvane Pune Built up area 588Sq.feet. Collateral Security: EM of office premises at 402 4th floor CS No.286 (Part) Aurus Chambers Annex A Lower Parel Division, Amruteshwar Marg Worli Mumba approx area 3321 Sq. Feet. Collateral Security: Hypothecation of Plant and Machineires electrical installation Office equipments purchased out of Bank finance.
Date of latest modification prior to the present modification	15.09.2011
Particulars of the present modification	By this present modification, the existing charge has been enhanced by Rs.39.200 Millions (The existing DCC limit has been enhanced by Rs.14.000 Millions. BG Limit has been enhanced by Rs.15.000 Millions and New limits of Bill Negotiation and forward contract to the tune of Rs.10.200 Millions have been added to the existing limit ) making the total charge against the assets of the Company would be of Rs.156.827 Millions.

FIXED ASSETS:

• Leasehold Land
• Factory Building
• Industrial Gala
• Plant and Machinery
• Furniture and Fittings
• Office Equipments
• Vehicles
• Computer
• Tools
• Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.70
UK Pound	1	Rs.91.14
Euro	1	Rs.77.98

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.