MIRA INFORM REPORT

Report Date :

01.03.2013

IDENTIFICATION DETAILS

Name :	DML EXIM PRIVATE LIMITED (w.e.f. 26.07.2008)
Formerly Known As :	D M LAKHANI OVERSEAS PRIVATE LIMITED SHREE SONAL IEE (JAYDEEP HOTELS) PRIVATE LIMITED
Registered Office :	405, Embassy Tower, Opposite Jubilee Garden, Jawahar Road, Rajkot – 360001, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.09.1988
Com. Reg. No.:	04-011223
Capital Investment / Paid-up Capital :	Rs.19.363 Millions
CIN No.: [Company Identification No.]	U55100GJ1988PTC011223
TAN No.: [Tax Deduction & Collection Account No.]	RKTD00967B
PAN No.: [Permanent Account No.]	AABED8911B
Legal Form :	Private Limited Liability Company
Line of Business :	Exporter and Importer of all Agri Product
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (35)

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

Maximum Credit Limit :	USD 710000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. Latest financials i.e. 2011-12 are missing from the government department. From the previous year’s financials the company seems to be progressing well. However, the rating take into consideration highly competitive market segment, changes in government regulations over agricultural commodities, price fluctuation and agro climatic condition which have a bearing on the supply of raw materials. Trade relations are reported as fair. Business is active. Payment terms are unknown. The company can be considered for business dealings with some cautions.

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	A4 (Packing Credit)
Rating Explanation	The risk prone credit quality. It carry high credit risk.
Date	January 24, 2012

Rating Agency Name	ICRA
Rating	BB (Cash Credit)
Rating Explanation	The inadequate credit quality. It carry high credit risk.
Date	January 24, 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.

LOCATIONS

Registered Office :	405, Embassy Tower, Opposite Jubilee Garden, Jawahar Road, Rajkot – 360001, Gujarat, India
Tel. No.:	91-281-2229183/ 229182/ 2240671/ 2222991
Fax No.:	91-281-2230505/ 2229643
E-Mail :	mjpassociates@gmail.com info@dmlakhani.com logistic@dmlgroup.com chirag@dmlgroup.in kaka@dmlakhani.com nhkothari@dmlgroup.in
Website :	www.dmlgroup.in
Area :	5000 Sq. Ft.
Location :	Owned
Corporate Office :	504, Venus Atlantis Corporate Park, Prahlad Nagar Road, Satellite, Near S.G Road, Ahmedabad – 380015, Gujarat, India
Tel No.:	91-79-40082011 / 40082012
Fax No.:	91-7940082014
Branch Office :	B-604, Sagar Tech Plaza, Sakinaka Junction, Andheri (East), Mumbai - 400 075, Maharashtra, India
E-Mail :	info@dmlakhani.com
Area :	800 Sq. Ft.

DIRECTORS

As on: 29.09.2012

Name :

Mr. Harishbhai Jayantilal Lakhani

Designation :

Director

Address :

“Vrundavan”, Tapovan Society, Near Aminmarg, Rajkot – 360 002, Gujarat, India

Date of Birth/Age :

13.05.1959

Date of Appointment :

12.05.2003

DIN No.:

01658810

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	U55100GJ1988PTC011223	DML EXIM PRIVATE LIMITED	Director	12/05/2003	12/05/2003	-	Active	NO
2	U51100GJ2005PTC046358	DML WORLD TRADE PRIVATE LIMITED	Director	14/07/2005	14/07/2005	-	Active	NO
3	U51100GJ2005PTC046782	D.R.B. COMMODITIES (INDIA) PRIVATE LIMITED	Director	16/09/2005	16/09/2005	-	Active	NO
4	U51909GJ2012PTC072431	CDM ENTERPRISE PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO
5	U51909GJ2012PTC072429	DEEPSTAR OVERSEAS PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO
6	U51200GJ2012PTC072428	DML AGRO TRADE PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO

Name :

Mr. Chirag Harishkumar Lakhani

Designation :

Director

Address :

“Vrundavan”, Tapovan Society, Near Aminmarg, Rajkot – 360 002, Gujarat, India

Date of Birth/Age :

23.08.1986

Qualification :

B. Com

Date of Appointment :

11.09.2004

DIN No.:

01624243

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	U55100GJ1988PTC011223	DML EXIM PRIVATE LIMITED	Director	11/09/2004	11/09/2004	-	Active	NO
2	U51100GJ2005PTC046358	DML WORLD TRADE PRIVATE LIMITED	Director	25/08/2008	25/08/2008	-	Active	NO
3	U27100GJ2011PTC066552	ADITYA ULTRA STEEL PRIVATE LIMITED	Director	27/07/2011	27/07/2011	-	Active	NO
4	U51909GJ2012PTC072429	DEEPSTAR OVERSEAS PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO
5	U51200GJ2012PTC072428	DML AGRO TRADE PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO

Name :

Mr. Darshan Harishkumar Lakhani

Designation :

Director

Address :

“Vrundavan”, Tapovan Society, Near Aminmarg, Rajkot – 360 002, Gujarat, India

Date of Birth/Age :

23.08.1986

Qualification :

B. Com

Date of Appointment :

11.09.2004

DIN No.:

01658879

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	U55100GJ1988PTC011223	DML EXIM PRIVATE LIMITED	Director	11/09/2004	11/09/2004	-	Active	NO
2	U51100GJ2005PTC046358	DML WORLD TRADE PRIVATE LIMITED	Director	14/07/2005	14/07/2005	-	Active	NO
3	U51909GJ2012PTC072429	DEEPSTAR OVERSEAS PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO
4	U51200GJ2012PTC072428	DML AGRO TRADE PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Minaben Harishkumar Lakhani	181020
Narendrakumar Nanjibhai Davda	178000
Harishkumar Jayantilal Lakhani	190250
Dollyben Harishkumar Lakhani	190000
Prabhaben Jayantilal Lakhani	190000
Chiragbhai Harishkumar Lakhani	188500
Darshan Harishkumar Lakhani	190000
Bharatkumar Mathurdas Atari	4500
Jagdishkumar Kanjibhai Jobanputra	4500
Prafulkumar Mathurdas Atari	4500
Sureshkumar Mathurdas Atari	4500
Ajaykumar Pravinkumar Khimani	4500
Bhanumati Ratilal Jobanputra	4500
Bharatkumar G. Dave	4500
Dharmeshkumar Laxmidas Jobanputra	4500
Dhirajben Laxmidas Jobanputra	4500
Hinaben Bhaveshkumar Jobanputra	4500
Jaysukhlal Ratilal Chandarana	4500
Vinodbhai Chhotalal Karia	4500
Mukeshkumar Jayantilal Lakhani	4500
Nitaben Bharatbhai Dave	4500
Parag Pravinkumar Khiman	4500
Parulben Nileshkumar Jobanputra	4500
Pintukumar Pravinkumar Khimani	4500
Pravinkumar Manilal Khimani	4500
Rajeshkumar Manilal Khimani	4500
Varshaben Rajeshkumar Kotecha	4500
Nilesh Ratilal Jobanputra	7500
Pravinaben Narendra Davda	187500
Sejal Darshan Lakhani	190000
Vanitbhai Jadavjibhai Karia	140000
Veenaben Vanitbhai Karia	13500
Total	1936270

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of directors	89.85
Other top fifty shareholders	10.15
Total	100.00

BUSINESS DETAILS

Line of Business :

Exporter and Importer of all Agri Product

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Oriental Bank of Commerce, Aum Planet, Ground Floor, Opposite Nirmala Convent School, Rajkot - 360001, Gujarat, India

· ICICI Bank Limited, Rajkot, Gujarat, India

· Axis Bank Limited, Rajkot, Gujarat, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Working capital loans secured	0.000	1413.831
Loans taken for fixed assets secured	0.830	1.375
Total	0.830	1415.206

Banking Relations :	--
Auditors :
Name :	N. M. Unadkat and Company Chartered Accountants
Address :	306-307, Everest Complex, Opposite Shastri Maidan, Subhash Road, Rajkot-360001, Gujarat, India
PAN No.:	AAFPU7460F
Related Enterprises :	· D. M. Enterprise · D. M. L. World Trade Private Limited · Devhari Enterprise
Holding Company :	D.M.L. Exim Private Limited
Subsidiary Company :	D.R.B. Commodities (India) Private Limited CIN No.: U51100GJ2005PTC046782

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1936270	Equity Shares	Rs.10/- each	Rs.19.363 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		19.363	19.363	19.363
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		158.472	44.568	35.059
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		177.835	63.931	54.422
LOAN FUNDS
1] Secured Loans		0.830	1415.206	736.775
2] Unsecured Loans		24.754	12.134	1.224
TOTAL BORROWING		25.584	1427.340	737.999
DEFERRED TAX LIABILITIES		6.962	(0.106)	0.000
TOTAL		210.381	1491.165	792.421
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		60.987	6.139	5.035
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		6.325	4.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.051
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	62.602	106.083	25.067
	Sundry Debtors	26.885	1299.866	593.770
	Cash & Bank Balances	178.146	27.630	17.748
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	212.608	185.110	189.027
Total Current Assets		480.241	1618.689	825.612
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	147.158	117.158	28.465
	Other Current Liabilities	135.781	15.549	5.590
	Provisions	54.233	4.956	4.222
Total Current Liabilities		337.172	137.663	38.277
Net Current Assets		143.069	1481.026	787.335
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		210.381	1491.165	792.421

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	6511.729	5158.730	2520.202
		Other Income	108.520	189.794	105.394
		TOTAL (A)	6620.249	5348.524	2625.596
Less	EXPENSES
		Cost of Goods sold		4943.205	2291.527
		Direct Expenses		96.530	46.979
		Salary and Benefits to Staff		2.936	2.815
		Remuneration and Benefits to Directors		0.190	0.248
		Administration, Selling and General Expenses		245.117	229.247
		Prior period adjustments		0.000	0.208
		TOTAL (B)	6443.960 (Including Financial Expenses)	5287.978	2571.024
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			60.516	54.572
Less	FINANCIAL EXPENSES (D)			45.404	44.113
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		176.289	15.112	10.459
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.106	0.772	0.652
	PROFIT BEFORE TAX (E-F) (G)		175.183	14.370	9.807
Less	TAX (H)		61.280	4.844	4.147
	PROFIT AFTER TAX (G-H) (I)		113.903	9.526	5.660
	SHORT PROVISION FOR EARLIER YEAR INCOME TAX		0.000	(0.016)	0.570
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		31.246	21.736	16.645
	BALANCE CARRIED TO THE B/S		145.149	31.246	21.736
	EARNINGS IN FOREIGN CURRENCY		6297.495	5071.8001	2112.712
	Earnings Per Share (Rs.)		58.53	4.92	-

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.72	0.18	0.22
Net Profit Margin (PBT/Sales)	(%)	2.69	0.28	0.39
Return on Total Assets (PBT/Total Assets}	(%)	32.38	0.88	1.18
Return on Investment (ROI) (PBT/Networth)		0.99	0.22	0.18
Debt Equity Ratio (Total Debt/Networth)		0.14	22.33	13.56
Current Ratio (Current Asset/Current Liability)		1.42	11.76	21.57

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	Yes
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	No
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

UNSECURED LOAN

(Rs. In Millions)

	As on 31.03.2011	As on 31.03.2010
Loans directors unsecured	24.754	12.134
Total	24.754	12.134

REVIEW OF FINANCIAL PERFORMANCE:

During the year under report, the total turnover of the Company has been increased to Rs. 6511.729 from Rs. 5158.730 Millions as compared to the last year showing a rise about 26 % (approx. fig). Moreover, the Company reported the Net Profit (After Tax) of Rs. 113.903 Millions as compared to the Net Profit (After Tax) of Rs. 9.526 Millions showing a rise of about 12 % (approx. fig). The management assures the members that no efforts will be left untried to maintain sustained results thereby increasing maximum profitability in the coming years.

CONTINGENT LIABILITY

(Rs. In Millions)

Particular	31.03.2011	31.03.2010
Bank Guarantee	150.000	115.000
Bills Receivable Discounted	525.705	Nil

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U55100GJ1988PTC011223
Name of the company	DML EXIM PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	405, Embassy Tower, Opposite Jubilee Garden, Jawahar Road, Rajkot – 360001, Gujarat, India E-mail: kaka@dmlakhani.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90096924
Type of charge	Immovable property
Particular of charge holder	Oriental Bank of Commerce, Aum Planet, Ground Floor, Opposite Nirmala Convent School, Rajkot - 360001, Gujarat, India E-mail: bm0556@obc.co.in
Nature of instrument creating charge	Instrument modifying the charge: Memorandum of Extension of Equitable Mortgage.
Date of instrument Creating the charge	03.12.2012
Amount secured by the charge	Rs.7332.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Extent and Operation of the charge The charge operates to extend security by way of Equitable Mortgage of immovable properties of the Company as mentioned in Sr.No.15 (i) in favour of Oriental Bank of Commerce, Rajkot to secure entire credit facilities granted to the Company and to DML World Trade Private Limited and D.R.B Commodities (India) Private Limited (Associate Concerns) aggregate amounting to Rs.7332.500 Millions in addition to all costs, interests and other expenses. Others Bifurcation of overall credit facilities of Rs. 7332.500 Millions granted to the Company and to its Associate Concerns is as under: 1) DML Exim Private Limited - Rs.4060.000 Millions. 2) DML World Trade Private Limited - Rs.1222.500 Millions 3) D.R.B. Commodities (India) Private Limited - Rs. 2050.000 Millions.
Date of instrument modifying the charge	25.11.2011
Particulars of the present modification	Vide this modification, the Bank has granted additional credit facilities of Rs.492.500 Millions to the Company. Now, overall credit facilities granted to the Company and its Associates Concerns increased from Rs.6840.000 Millions to Rs.7332.500 Millions The entire credit facilities of Rs.7332.500 Millions are secured against Equitable Mortgage of immovable properties of the Company.

FIXED ASSETS

· Land

· Building

· Office Equipments

· Computer Equipments

· Furniture Fixtures

· Vehicles

· Knowhow

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.53.77
UK Pound	1	Rs.81.57
Euro	1	Rs.70.68

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		35

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

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