1. Summary Information

		Country	India
Company Name	PALLAVI MARKETING PRIVATE LIMITED	Principal Name 1	Mr. Shyam Lohia
Status	Moderate	Principal Name 2	Mr. Ajay Kumar Agrawal
		Registration #	03-7469
Street Address	6 and 7 Ground Floor, Ashoka Place, Exbition Road, Patna – 800 001, Bihar
Established Date	18.09.1996	SIC Code	--
Telephone#	91-612-2321764/ 1461	Business Style 1	Trading of TV Sets, Washing Machines, Refrigerators and Franchisee of Air Hostess Academy.
Fax #	91-612-2321464	Business Style 2	--
Homepage	babasamsung@yahoo.com mca.rocfilling@gmail.com	Product Name 1	--
# of employees	17 (Approximately)	Product Name 2	--
Paid up capital	Rs.6,840, 000	Product Name 3	--
Shareholders	Directors or relatives of directors 58.92	Banking	State Bank of India
Public Limited Corp.	No	Business Period	17 years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	B (31)
Related Company
Relation	Country	Company Name	CEO

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	37,216,000	Current Liabilities	4,494,000
Inventories	6,578,000	Long-term Liabilities	13,871,000
Fixed Assets	1,069,000	Other Liabilities	0
Deferred Assets	76,000	Total Liabilities	18,365,000
Invest& other Assets	0	Retained Earnings	19,734,000
	0	Net Worth	26,574,000
Total Assets	44,939,000	Total Liab. & Equity	44,939,000
Total Assets (Previous Year)	37,366,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales (Gross Turnover)	311,045,000	Net Profit	948,000
Sales (Previous yr) (Gross Turnover)	355,712,000	Net Profit(Prev.yr)	1,141,000

MIRA INFORM REPORT

Report Date :

11.03.2013

IDENTIFICATION DETAILS

Name :	PALLAVI MARKETING PRIVATE LIMITED
Registered Office :	6 and 7 Ground Floor, Ashoka Place, Exbition Road, Patna – 800 001, Bihar
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	18.09.1996
Com. Reg. No.:	03-7469
Capital Investment / Paid-up Capital :	Rs.6.840 millions
CIN No.: [Company Identification No.]	U51505BR1996PTC007469
TAN No.: [Tax Deduction & Collection Account No.]	PTNP00130E
PAN No.: [Permanent Account No.]	AABCP3711F
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of TV Sets, Washing Machines, Refrigerators and Franchisee of Air Hostess Academy.
No. of Employees :	17 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 106296
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appears some dip in the turnover and profitability of the company during current year. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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

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 :	6 and 7 Ground Floor, Ashoka Place, Exbition Road, Patna – 800 001, Bihar, India
Tel. No.:	91-612-2321764/ 1461
Fax No.:	91-612-2321464
E-Mail :	babasamsung@yahoo.com mca.rocfilling@gmail.com
Corporate Office :	8, Aditya Arcade, Exhibition Road, Patna, Bihar – 800001, India

DIRECTORS

(AS ON 30.09.2012)

Name :

Mr. Shyam Lohia

Designation :

Director

Address :

2 A, E Block, Pusp Vihar, Exhibition Road, Patna – 800 001, Bihar, India

Date of Birth/Age :

15.05.1961

Qualification :

Graduate

Date of Appointment :

18.09.2006

DIN No :

01659042

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51109BR2003PTC010198	BABA SALES PRIVATE LIMITED	Director	26-05-03	26-05-03	Active	NO
2	U51505BR1996PTC007469	PALLAVI MARKETING PRIVATE LIMITED	Director	04-08-06	04-08-06	Active	NO
3	U60231BR2008PTC013984	S S LOGISTICS PRIVATE LIMITED	Director	07-10-08	07-10-08	Active	NO

Name :

Mr. Shambhu Dayal Agrawal

Designation :

Director

Address :

Dwarka Kunj Road, No. 12, Rajendra Nagar, Patna – 800 016, Bihar, India

Date of Birth/Age :

26.10.1951

Qualification :

Graduate

Date of Appointment :

18.09.1996

DIN No :

01664857

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U51505BR1996PTC007469	PALLAVI MARKETING PRIVATE LIMITED	Director	18-09-96	18-09-96	-	Active	NO
2	U27100CT2003PTC021900	KRISHNA IRON STEEL AND POWER PRIVATE LIMITED	Director	10-09-03	10-09-03	26-11-09	Active	NO

Name :

Mr. Ajay Kumar Agrawal

Designation :

Director

Address :

Dwarka Kunj Road No. 12, Rajendra Nagar, Patana, Bihar – 800 016, India

Date of Birth/Age :

06.06.1969

Date of Appointment :

02.01.2001

DIN No.:

01717459

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51505BR1996PTC007469	PALLAVI MARKETING PRIVATE LIMITED	Director	02-01-01	02-01-01	Active	NO
2	U51109BR2003PTC010198	BABA SALES PRIVATE LIMITED	Director	08-11-03	08-11-03	Active	NO

Name :

Mrs. Shakuntala Devi Lohia

Designation :

Director

Address :

2 A, E Block, Pusp Vihar, Exhibition Road, Patna – 800 001, Bihar, India

Date of Birth/Age :

15.08.1966

Date of Appointment :

04.08.2006

Name :

Mrs. Sushila Devi Agrawal

Designation :

Director

Address :

4, Rajendra Nagar Road, No. 12, Patna – 800 016, Bihar, India

Date of Birth/Age :

18.06.1951

Date of Appointment :

28.07.2000

DIN No.:

01717470

Name :

Ms. Dimple Agrawal

Designation :

Director

Address :

4, Rajendra Nagar Road, No. 12, Patna – 800 016, Bihar, India

Date of Birth/Age :

19.05.1977

Date of Appointment :

02.01.2001

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2012)

Names of Shareholders	No. of Shares
Shambhu Dayal Agrawal	99200
Shyam Lohia	185000
Sri Vaishnavi Agro Industries Private Limited, India	50000
Intergral Trade and Commerce Private Limited, India	50000
Sangeeta Mishra	2000
Durga Shankar Mishra	2000
Bimal Goenka	2000
Rekha Goenka	2000
Dilip Goenka	2000
Nageshwar Singh	2000
Prabhakar Palibar	2000
Arun Kumar	2000
Shyam Sah	2000
Laxman Rai	2000
Mahendra Sah	2000
Pawan Kalyani	2000
Ajay Kumar Agarawal	50000
Sushila Devi Agarawal	34100
Deepak Agarawal	100
Runjhun Agarawal	100
Sanjay Agarawal	100
Anita Agarawal	200
Sudha Agarawal	200
Babita Agarawal	200
Kavita Agarawal	100
Sunita Agarawal	200
Ruchi Agarawal	100
Rajani Agarawal	100
Kaynta Devi Agarawal	200
Piyush Agarawal	100
Sadgi Commercial and Finance Private Limited, India	10000
Pioneer Zeepars Private Limited, India	10000
Novex Vinimay Private Limited, India	10000
Eskay Business Private Limited, India	6000
Sukumar Mandal	2000
Sarla Agarawal	1000
Deepak Agarawal	2000
Omni Associates Private Limited, India	8000
Sadashiv Stock and Shares Private Limited, India	10000
Sahri Kahri Investments Private Limited, India	10000
Softgate Technologies Private Limited, India	15000
NEPC Industries Limited, India	16000
Time Computech Services Limited, India	16000
Rajkosh Trexim Private Limited, India	10000
Anubhuti Vanijay Private Limited, India	32000
Improve Financial Consultants Private Limited, India	28000
Raghubir Singh	2000
Sanjay Khaware	2000
Total	684000

(AS ON 30.09.2012)

Equity Shares Break – up

Category	Percentage
Bodies corporate	41.08
Directors or relatives of directors	58.92
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading of TV Sets, Washing Machines, Refrigerators and Franchisee of Air Hostess Academy.

GENERAL INFORMATION

No. of Employees :

17 (Approximately)

Bankers :

· State Bank of India,

Specialised Commercial Branch, Dak Bunglow Road, Patna – 800 001, Bihar, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Bank OD A/c (SBI, Spl Com Branch, DB Road, Patna) (Against Hypothecation of stock and Book debts)	9.715	5.664
Total	9.715	5.664
Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
From Corporate Body
Purva Parishad Resource Private Limited	2.000	0.000
From Directors and Shareholders
Directors	0.720	1.367
Shareholders	1.436	0.790
Total	4.156	2.157

Banking Relations :	--
Auditors :
Name :	A K Salampuria and Associates Chartered Accountants
Address :	1^st Floor Above MICA Sales Near Chanakya Cinema Exhibition Road, Patna 800001, Bihar, India
PAN No.:	AAFFA1003L

CAPITAL STRUCTURE

(AS ON 30.09.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs.10/- each	Rs.7.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
684000	Equity Shares	Rs.10/- each	Rs.6.840 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		6.840	6.840	6.830
2] Share Application Money		0.000	0.000	0.050
3] Reserves & Surplus		19.734	18.786	17.604
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		26.574	25.626	24.484
LOAN FUNDS
1] Secured Loans		9.715	5.664	2.683
2] Unsecured Loans		4.156	2.157	4.058
TOTAL BORROWING		13.871	7.821	6.741
DEFERRED TAX LIABILITIES		0.000	0.000	0.095
TOTAL		40.445	33.447	31.320
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.069	0.473	2.466
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.076	0.113	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.578	4.231	7.234
	Sundry Debtors	29.790	26.986	15.402
	Cash & Bank Balances	1.525	1.445	4.456
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	5.901	4.118	5.344
Total Current Assets		43.794	36.780	32.436
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.003	0.627	0.115
	Other Current Liabilities	1.233	0.465	1.112
	Provisions	3.258	2.827	2.355
Total Current Liabilities		4.494	3.919	3.582
Net Current Assets		39.300	32.861	28.854
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		40.445	33.447	31.320

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	311.045	355.712	326.336
		Other Income	11.822	6.107
		TOTAL (A)	322.867	361.819	326.336
Less	EXPENSES
		Cost of Materials	317.911	352.007
		Employees Remuneration	0.750	0.794	NA
		Increase/(Decrease) in Finished Goods	(2.346)	3.003
		Office Expenses	3.637	3.484
		TOTAL (B)	319.952	359.288	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.915	2.531	2.217
Less	FINANCIAL EXPENSES (D)		1.337	0.947	0.598
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.578	1.584	1.619
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.162	0.177	0.234
	PROFIT BEFORE TAX (E-F) (G)		1.416	1.407	1.385
Less	TAX (I)		0.468	0.266	0.584
	PROFIT AFTER TAX (G-I) (J)		0.948	1.141	0.801
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	7.804	7.003
	Earnings Per Share (Rs.)		1.39	1.67	1.42

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.29	0.31	0.24
Net Profit Margin (PBT/Sales)	(%)	0.45	0.39	0.42
Return on Total Assets (PBT/Total Assets}	(%)	3.15	3.77	3.97
Return on Investment (ROI) (PBT/Networth)		0.05	0.05	0.06
Debt Equity Ratio (Total Liability/Networth)		0.69	0.46	0.42
Current Ratio (Current Asset/Current Liability)		9.74	9.38	9.06

LOCAL AGENCY FURTHER INFORMATION

FORM 8

Corporate identity number of the company	U51505BR1996PTC007469
Name of the company	PALLAVI MARKETING PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	6 and 7 Ground Floor, Ashoka Place, Exbition Road, Patna – 800 001, Bihar
This form is for	Modification of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	State Bank Of India Sme Branch,Dak Bunglow Road 3rd Floor,Govind Bhawan Patna 800001, Bihar, India Email: sbi.09600@sbi.co.in
Nature of instrument creating charge	1. Sanction Letter 2.Board Resolution 3.Guarantee Agreement 4.Supplemental Agreement Of Loan -Cum Hypothecation 5. Agreement To Be Executed By Borrower And Guarantor
Date of instrument Creating the charge	12.09.2012
Amount secured by the charge	Rs. 20.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 3.75 % ABOVE BASE RATE AS APPLICABLE TO SB-6 Terms of repayment REPAYABLE ON DEMAND Margin CASH CREDIT -25% STOCK RECEIVABLE-40% BG-25% Extent and operation of the charge 1. HYPOTHEACTION OF ENTIRE FINISHED GOODS,RECEIVABLE AND OTHER CURRENT ASSETS BOTH PRESENT AND FUTURE 2.EXTENSION OF EM FREEHOLD COMMERCIAL LANDED PROPERTY AT DARIYAPUR,PATNA,SURVEY PLOT NO.- 1275,WARD NO.-17/A,P.S -PIRBAHORE,PATNA 3. EXTENSION OF EM OF SHOP NO.-8,GROUND FLOOR OF ADITYA ARCADE,EXHIBITION ROAD,PATNA,PLOT NO-751,P.S -GANDHI MAIDAN,PATNA Other
Short particulars of the property charged (Including location of the property)	1. HYPOTHEACTION OF ENTIRE FINISHED GOODS,RECEIVABLE AND OTHER CURRENT ASSETS BOTH PRESENT AND FUTURE 2. EXTENSION OF EM FREEHOLD COMMERCIAL LANDED PROPERTY AT DARIYAPUR,PATNA,SURVEY PLOT NO.- 1275,WARD NO.-17/A,P.S -PIRBAHORE,PATNA IN THE NAME OF SUSHILA DEVI AGRAWAL 3. EXTENSION OF EM OF SHOP NO.-8,GROUND FLOOR OF ADITYA ARCADE,EXHIBITION ROAD,PATNA,PLOT NO-751,P.S -GANDHI MAIDAN,PATNA IN THE NAME OF SHYAM LOHIA FRESH COLLATERAL AMOUNTING TO RS. 1.403 MILLIONS
Particulars of the present modification	OVER ALL LIMIT ENHANCED TO RS.20.000 MILLIONS

FIXED ASSETS

· Furniture and Fixture

· Plant and Machinery

· Car

· Telecom Equipment

· Delivery Van

· Computer

· Motor Cycle

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	--
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	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	No
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Passport No 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

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.54.40
UK Pound	1	Rs.81.57
Euro	1	Rs.71.24

INFORMATION DETAILS

Report Prepared by :

PRL

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		31

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.