MIRA INFORM REPORT

Report Date :

17.05.2013

IDENTIFICATION DETAILS

Name :	SOUL SPACE PROJECTS LIMITED

Registered Office :	409, 4^th Floor, DLF Tower-A, Jasola, New Delhi-110044

Country :	India

Financials (as on) :	31.03.2012 (Profit and Loss A/c)

Date of Incorporation :	25.11.2005

Com. Reg. No.:	55-142986

Capital Investment / Paid-up Capital :	Rs. 20.938 Millions

CIN No.: [Company Identification No.]	U70101DL2005PLC142986

TAN No.: [Tax Deduction & Collection Account No.]	DELS29886D

PAN No.: [Permanent Account No.]	AAJCS7736F

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Real Estate Developers

No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 274000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an subsidiary of “B L Kashyap and Sons Limited”. It is having a moderate track record. Company has incurred huge loss in the financial year 2012. However, trade relations are reported as fair. Business is active. Payments terms are slow but correct. The company can be considered for business dealings with some caution.

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

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.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Ajay
Designation :	Accounts Department
Contact No.:	91-11-40500300
Date :	15.05.2013

LOCATIONS

Registered Office :	409, 4^th Floor, DLF Tower-A, Jasola, New Delhi-110044, India
Tel. No.:	91-11-40500300 (100 Lines)
Fax No.:	91-11-40500333
E-Mail :	info@soulspace.co.in vinod@blkashyap.com
Website :	http://www.soulspace.co.in
Location :	Owned

Head Office :	B – 1, Extension, E-23, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi – 110 044, India
Tel. No.:	91-11-40500300 (100 Lines)/ 40500200
Fax No.:	91-11-41679815
E-Mail :	mayfair@soulspace.co.in info@soulspace.co.in vinod@blkashyap.com
Website :	www.soulspace.co.in

Corporate Office 1 :	No.135, HIS Grace, 1^st Main, Domlur, 2^nd Stage, Indira Nagar, Bangalore-560071, Karnataka, India
Tel. No.:	91-80-41486972
Email :	sales@soulspace.co.in

Corporate Office 2 :	No.151, 2^nd Cross Road, Domlur, 2^nd Stage, Indiranagar, Bangalore – 560 071, Karnataka, India
Tel. No.:	91-80-41486971/ 72/ 73
E-Mail :	info@soulspace.co.in

Regional Office :	Survey No.182/ 1/ 2, Sai Empire, Office No.101/ 102, First Floor, Baner, Pune – 411 045, Maharashtra, India
Tel. No.:	91-20-27207212/ 13
Fax No.:	91-20-27207215

DIRECTORS

As on : 21.09.2012

Name :

Mr. Vinod Kashyap

Designation :

Director

Address :

B-7, Soami Nagar, New Delhi – 110 017, India

Date of Birth/Age :

14.11.1951

Qualification:

B.A.

Date of Appointment :

25.11.2005

Din No:

00038854

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	U15532HR1974PTC007248	AHUJA KASHYAP MALTS PRIVATE LIMITED	Director	29-10-84	29-10-84	-	Active	NO
2	L74899DL1989PLC036148	B L KASHYAP AND SONS LIMITED	Whole-time director	01-04-12	08-05-89	-	Active	NO
3	U74899DL1983PTC016115	BEZEL INVESTMENT AND FINANCE PRIVATE LIMITED	Director	29-01-92	29-01-92	-	Active	NO
4	U74899DL1993PLC055596	SECURITY INFORMATION SYSTEMS INDIA LIMITED	Director	11-10-93	11-10-93	-	Active	NO
5	U74899DL1994PLC061207	B. L. K FINANCIAL SERVICES LIMITED	Managing director	10-04-10	02-09-94	18-03-13	Active	NO
6	U67120DL1997PTC087427	B L K SECURITIES PRIVATE LIMITED	Director	23-05-97	23-05-97	-	Active	NO
7	U20299DL2000PLC106779	B L K LIFESTYLE LIMITED	Director	13-07-00	13-07-00	-	Active	NO
8	U70101DL2005PLC142986	SOUL SPACE PROJECTS LIMITED	Director	25-11-05	25-11-05	-	Active	NO
9	U51909DL2006PTC144966	AIYANA TRADING PRIVATE LIMITED	Director	30-08-06	30-08-06	-	Active	NO
10	U45400DL2007PLC170028	SOUL SPACE REALTY LIMITED	Director	31-10-07	31-10-07	-	Active	NO
11	U52100DL2007PLC170027	SOUL SPACE HOSPITALITY LIMITED	Director	31-10-07	31-10-07	-	Active	NO
12	U45203DL2008PLC183145	BLK INFRASTRUCTURE LIMITED	Director	11-09-08	11-09-08	-	Active	NO
13	U72400DL2006PTC150225	B. L. KASHYAP AND SONS SOFTWARE PRIVATE LIMITED	Director	30-09-11	01-04-11	-	Active	NO

Name :

Mr. Vineet Kashyap

Designation :

Director

Address :

223, Sukhdev Vihar, N.C.T. of Delhi, New Delhi – 110 025, India

Date of Birth/Age :

22.06.1954

Qualification:

B.A.

Date of Appointment :

25.11.2005

Din No :

00038897

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	L74899DL1989PLC036148	B L KASHYAP AND SONS LIMITED	Managing director	01-04-12	08-05-89	-	Active	NO
2	U74899DL1983PTC016115	BEZEL INVESTMENT AND FINANCE PRIVATE LIMITED	Director	29-01-92	29-01-92	-	Active	NO
3	U74899DL1993PLC055596	SECURITY INFORMATION SYSTEMS INDIA LIMITED	Director	11-10-93	11-10-93	-	Active	NO
4	U74899DL1994PLC061207	B. L. K FINANCIAL SERVICES LIMITED	Director	02-09-94	02-09-94	-	Active	NO
5	U67120DL1997PTC087427	B L K SECURITIES PRIVATE LIMITED	Director	23-05-97	23-05-97	-	Active	NO
6	U20299DL2000PLC106779	B L K LIFESTYLE LIMITED	Director	13-07-00	13-07-00	-	Active	NO
7	U72300DL2005PTC135379	Low Fare Travel Solutions Private Limited	Director	26-04-05	26-04-05	-	Active	NO
8	U70101DL2005PLC142986	SOUL SPACE PROJECTS LIMITED	Director	25-11-05	25-11-05	-	Active	NO
9	U51909DL2005PTC143764	CHRYSALIS TRADING PRIVATE LIMITED	Director	17-08-06	17-08-06	-	Active	NO
10	U45400DL2007PLC170028	SOUL SPACE REALTY LIMITED	Director	31-10-07	31-10-07	-	Active	NO
11	U52100DL2007PLC170027	SOUL SPACE HOSPITALITY LIMITED	Director	31-10-07	31-10-07	-	Active	NO
12	U45201DL2006PTC145284	Chrysalis Realty Projects Private Limited	Director	30-09-08	31-12-07	-	Active	NO
13	U45203DL2008PLC183145	BLK INFRASTRUCTURE LIMITED	Director	11-09-08	11-09-08	-	Active	NO
14	U72400DL2006PTC150225	B. L. KASHYAP AND SONS SOFTWARE PRIVATE LIMITED	Director	30-09-11	01-04-11	-	Active	NO

Name :

Mr. Vikram Kashyap

Designation :

Director

Address :

B-22A, Friends Colony (West), New Delhi – 110 065, India

Date of Birth/Age :

06.08.1961

Date of Appointment :

25.11.2005

Din No :

00038937

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	L74899DL1989PLC036148	B L KASHYAP AND SONS LIMITED	Whole-time director	01-04-12	08-05-89	-	Active	NO
2	U74899DL1983PTC016115	BEZEL INVESTMENT AND FINANCE PRIVATE LIMITED	Director	29-01-92	29-01-92	-	Active	NO
3	U74899DL1993PLC055596	SECURITY INFORMATION SYSTEMS INDIA LIMITED	Director	11-10-93	11-10-93	-	Active	NO
4	U74899DL1994PLC061207	B. L. K FINANCIAL SERVICES LIMITED	Director	02-09-94	02-09-94	11-04-13	Active	NO
5	U67120DL1997PTC087427	B L K SECURITIES PRIVATE LIMITED	Director	23-05-97	23-05-97	-	Active	NO
6	U20299DL2000PLC106779	B L K LIFESTYLE LIMITED	Director	13-07-00	13-07-00	-	Active	NO
7	U70101DL2005PLC142986	SOUL SPACE PROJECTS LIMITED	Director	25-11-05	25-11-05	-	Active	NO
8	U34103DL2006PTC156219	EON AUTO INDUSTRIES PRIVATE LIMITED	Director	29-09-10	05-12-06	-	Active	NO
9	U45400DL2007PLC170028	SOUL SPACE REALTY LIMITED	Director	31-10-07	31-10-07	-	Active	NO
10	U52100DL2007PLC170027	SOUL SPACE HOSPITALITY LIMITED	Director	31-10-07	31-10-07	-	Active	NO
11	U45203DL2008PLC183145	BLK INFRASTRUCTURE LIMITED	Director	11-09-08	11-09-08	-	Active	NO
12	U72400DL2006PTC150225	B. L. KASHYAP AND SONS SOFTWARE PRIVATE LIMITED	Director	30-09-11	01-04-11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

NOTE :

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on : 21.09.2012

Category	Percentage
Bodies corporate	97.90
Other top fifty shareholders	2.10
Total	100.00

BUSINESS DETAILS

Line of Business :	Real Estate Developers

Terms :
Selling :	Credit

Purchasing :	Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

150 (Approximately)

Bankers :

IndusInd Bank, M.G Road, Bangalore-560001, Karnataka, India

Facilities :

(Rs in Millions)

SECURED LOANS

31.03.2011

Rupee term loans from Banks

400.000

Total

400.000

Banking Relations :	--

Financial Institution :	IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai – 400 001, Maharashtra, India

Auditors :
Name :	Sood Brij and Associates Chartered Accountants
Address :	C-72, South Extension Part – II, New Delhi – 110 049, India
PAN No.:	AAAFS1960K

Holding Company (31.03.2011):	· B.L. Kashyap and Sons

Associates (31.03.2011) :	· B.L.K. Financial Services Limited, India · B.L.K. Securities Private Limited, India · Ahuja Kashyap Malts Private Limited, India · Bezel Investments and Finance Private Limited, India · Security Information Systems (India) Limited · Aiyana Trading Private Limited, India · B L K Lifestyle Limited, India · Chrysalis Trading Private Limited, India · Chrysalis Realty Projects Private Limited, India · EON Auto Industries Private Limited, India · Kasturi Ram Herbals Industries · BLK Infrastructure Limited, India · Suryakant Kakade and Soul Space

Subsidaries :	· Soul Space Hospitality Limited, India CIN No.: U52100DL2007PLC170027 · Soul Space Realty Limited, India CIN No.: U45400DL2007PLC170028

CAPITAL STRUCTURE

As on : 21.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2093825	Equity Shares	Rs. 10/- each	Rs. 20.938 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		20.938	20.938
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		47.618	39.709
4] (Accumulated Losses)		0.000	0.000
NETWORTH		68.556	60.647
LOAN FUNDS
1] Secured Loans		400.000	340.000
2] Unsecured Loans		3622.162	2784.623
TOTAL BORROWING		4022.162	3124.623
DEFERRED TAX LIABILITIES		1.665	0.084

TOTAL		4092.383	3185.354

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		14.350	25.441
Capital work-in-progress		3592.094	2513.319

INVESTMENT		21.033	21.033
DEFERRED TAX ASSETS		0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	23.752	210.951
	Sundry Debtors	50.412	28.753
	Cash & Bank Balances	63.477	28.433
	Other Current Assets	0.000	0.000
	Loans & Advances	1098.010	1245.369
Total Current Assets		1235.651	1513.506
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	587.560	661.945
	Other Current Liabilities	177.342	222.716
	Provisions	5.843	3.284
Total Current Liabilities		770.745	887.945
Net Current Assets		464.906	625.561

MISCELLANEOUS EXPENSES		0.000	0.000

TOTAL		4092.383	3185.354

NOTE :

Balancesheet for the year 2012 is not available only Profit and Loss A/c for the year 2012 is available

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	162.117	614.491	383.453
		Other Income	104.578	12.198	1.228
		TOTAL	266.695	626.689	384.681

Less	EXPENSES
		Cost of Material Consumed	123.049	545.394
		Employees Benefits	24.410	9.238
		Other Expenses	22.054	12.005
		TOTAL	169.513	566.637	352.827

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		97.182	60.052	31.854

Less	FINANCIAL EXPENSES		219.349	46.241	36.035

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		(122.167)	13.811	(4.181)

Less/ Add	DEPRECIATION/ AMORTISATION		1.598	2.201	3.601

	PROFIT / LOSS BEFORE TAX		(123.765)	11.610	(7.782)

Less	TAX		(47.142)	3.701	(0.049)

	PROFIT / LOSS AFTER TAX		(76.623)	7.909	(7.733)

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		7.173	6.997	NA

	BALANCE CARRIED TO THE B/S		NA	7.173	6.997

	Earnings/Loss Per Share (Rs.)
	Basic		36.59	3.78	(3.69)
	Diluted		36.59	3.78	(3.69)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(28.73)	12.62	(2.01)

Net Profit Margin (PBT/Sales)	(%)	(76.34)	1.89	(2.03)

Return on Total Assets (PBT/Total Assets}	(%)	NA	0.92	(0.51)

Return on Investment (ROI) (PBT/Networth)		NA	0.17	(0.13)

Debt Equity Ratio (Total Debt /Networth)		NA	58.67	51.52

Current Ratio (Current Asset/Current Liability)		NA	1.60	1.70

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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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	No

NOTE :

The registered office of the company has been shifted from B – 1, Extension, E-23, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi – 110 044, India to the present address

UNSECURED LOANS :

(Rs in Millions)

Particulars	31.03.2011
Deposits related parties	2988.597
Interest accrued	633.565
Total	3622.162

BANKERS CHARGES REPORT AS PER REGISTRY :

Corporate identity number of the company	U70101DL2005PLC142986
Name of the company	SOUL SPACE PROJECTS LIMITED
Address of the registered office or of the principal place of business in India of the company	B – 1, Extension, E-23, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi – 110 044, India Email : vinod@blkashyap.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10377409
Type of charge	· Immovable Property · Any interest in immovable property · Book debts · Movable property (not being pledge) · Floating charge · Others (Rental receivables (Bangalore mall) and current assets)
Particular of charge holder	IndusInd Bank, 28, Ground Floor, Centenary Building, M.G Road, Bangalore-560001, Karnataka, India Email : anupamchadha@indusind.com
Nature of instrument creating charge	Memorandum of entry for deposit of title deeds (Executed By Indusind Bank Limted.)
Date of instrument Creating the charge	21.09.2012
Amount secured by the charge	Rs. 700.000 Millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of Interest : As Per Sanctioned Terms Terms of repayment : As Per Sanctioned Terms Margin : Not Applicable Extent and Operation of the charge: The Charge Shall Cover Term Loan Facilities of Rs. 700.000 Millions Granted By The Bank To The Company
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First chg over company's entire present and future current assets (for TL-lap of INR 250.000 Millions) (excluding the receivables pertaining to arena mall (Bangalore) charged to ICICI Bank, India Exclusive chg over company's share of entire present and future receivables (for TL-lap of INR 250.000 Millions and TL-LRD of INR 450.000 millions) pertaining to Bangalore central mall - soul space spirit mall (Bangalore) Exclusive chg over company's share of immovable properties (for TL-lap of INR 250.000 millions and TL-LRD of INR 450.000 Millions) at Bangalore central mall - soul space spirit mall (Bangalore), India
Particulars of the present modification	The Existing Charge (Over Company's Current Assets and Rental Receivables) Is Now Extended Over Company's Share of Immovable Properties At Bangalore Central Mall - Soul Space Spirit Mall (Bangalore), India

FIXED ASSETS:

Land and Building
Plant and Machinery
Generator
Office Equipment
Cellular Phones
Computer Systems
Air Conditioner
Fan
Furniture and Fixtures
Vehicles

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. 54.77
UK Pound	1	Rs. 83.31
Euro	1	Rs. 70.46

INFORMATION DETAILS

Information Gathered by :	PLK

Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--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		29

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.

MIRA INFORM REPORT

(28.73)

(76.34)

NA

NA

NA

NA

Unit