MIRA INFORM REPORT

Report Date :

23.11.2013

IDENTIFICATION DETAILS

Name :	TARASOVA INNA

Registered Office :	Via Pieve, 70 36072 – Chiampo (VI)

Country :	Italy

Date of Incorporation :	19.12.2008

Legal Form :	Sole proprietorship

Line of Business :	Wholesale of skins and untreated and treated leather (except skins for furs)

No. of Employees :	From 1 to 5

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ITALY - ECONOMIC OVERVIEW

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is high. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level

Source : CIA

COMPANY NAME AND ADDRESS

TARASOVA INNA

Via Pieve, 70 36072 – Chiampo (VI) -IT-

Summary

Fiscal Code	:	TRSNNI73P56Z138S
Legal Form	:	Sole proprietorship
start of Activities	:	19/12/2008
Turnover Range	:	200.000/250.000
Number of Employees	:	from 1 to 5

Activity

Wholesale of skins and untreated and treated leather (except skins for furs)

Legal Data

Legal Form : Sole proprietorship

Fiscal Code : TRSNNI73P56Z138S

Chamber of Commerce no. : 331249 of Vicenza since 29/12/2008

V.A.T. Code : 03501320240

Foundation date	: 09/10/2008
Start of Activities	: 19/12/2008

Members

Tarasova

Inna

Born in Dnipropetrovsk

( )

on 16/09/1973

- Fiscal Code : TRSNNI73P56Z138S

Residence:

Pieve

, 70

- 36072

Chiampo

(VI)

- IT -

Position	Since	Shares Amount	% Ownership
Proprietor

No Prejudicial events are reported

No Protests registered

Companies connected to members *

*checkings have been performed on a national scale.

In this module are listed the companies in which members hold or have holded positions.

Tarasova

Inna

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
T.s.m. S.a.s. Di Tarasova Inna E C.	Chiampo (VI) - IT -	03388090247	General Partner	Active	Registered

The indication "REGISTERED" as Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.

For more information, in this case, we advise to request further investigations.

Direct Participations

The Company under review has no participations in other Companies.

Firm's location and structure

In order to carry out its activities the firm uses the following locations:

Legal and operative seat

Pieve

, 70

- 36072

- Chiampo

(VI)

- IT -

Assistants

: 1

Data Base Prejudicial Events Search

Search performed on a National Scale

Prejudicial Events Search Result: NEGATIVE

Search performed on a specialized data base.

Legal Procedures

None reported, standing to the latest received edition of the Official Publications.

Financial and Economical Analysis

The company under review was established some years ago.

On the whole, liquidity is normal and allowes a restricted recourse

to bank credit.

Current economical managment is run with accuracy and payments are

settled on terms.

On the whole, total indebtedness is mantained to moderate and

acceptable levels.

Trade behaviour is regarded as honest, on the whole.

Financial Data

Complete balance-sheet for the year

(in Eur

x 1)

Item Type	Value
Sales	250.000

Remarks

1) Protests checking (relative to the last five years) performed by crossing and matching the members names and the Firm's Style with the reported addresses, is supplied by the Informatic Registry managed by the Italian Chamber of Commerce. If the fiscal code is not indicated, the eventual homonymous cases are submitted to expert staff evaluation in order to limit wrong matching risks.

2) The Legal Data, supplied and retrived from the Firm's Registry of the Italian Chamber of Commerce, are in line with the last registered modifications.

3) Risk evaluation and Credit Opinion have been performed on the base of the actual data at the moment of their availability.

Market / Territory Data

Population living in the province	:	$Description: \\shraddha\d\raw foreign reports\tarasova_files\Spazio.gif$ 831.356
Population living in the region	:	$Description: \\shraddha\d\raw foreign reports\tarasova_files\Spazio.gif$ 4.699.950
Number of families in the region	:	$Description: \\shraddha\d\raw foreign reports\tarasova_files\Spazio.gif$ 1.813.210

Monthly family expences average in the region (in Eur..) :

- per food products	:	$Description: \\shraddha\d\raw foreign reports\tarasova_files\Spazio.gif$ 456
- per non food products	:	$Description: \\shraddha\d\raw foreign reports\tarasova_files\Spazio.gif$ 2.052
- per energy consume	:	$Description: \\shraddha\d\raw foreign reports\tarasova_files\Spazio.gif$ 127

Sector Data

The values are calculated on a base of 941 significant companies.

The companies cash their credits on an average of 90 dd.

The average duration of suppliers debts is about 77 dd.

The sector's profitability is on an average of 1,61%.

The labour cost affects the turnover in the measure of 4,81%.

Goods are held in stock in a range of 37 dd.

The difference between the sales volume and the resources used to realize it is about 1,64.

The employees costs represent the 4,83% of the production costs.

Statistical Detrimental Data

Statistically the trade activity passes through serious crises.

The area is statistically considered lowly risky.

In the region 13.782 protested subjects are found; in the province they count to 2.234.

The insolvency index for the region is 0,30, , while for the province it is 0,27.

Total Bankrupt companies in the province : 2.546.

Total Bankrupt companies in the region : 16.714.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.02
UK Pound	1	Rs.102.04
Euro	1	Rs.84.92

INFORMATION DETAILS

Report Prepared by :

NIS

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	--

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.