MIRA INFORM REPORT

1. Summary Information

		Country	India
Company Name	Vasudha Venture Private Limited	Principal Name 1	Mr. Jai Kumar Somani
Status	Satisfactory	Principal Name 2	Mr. Vijay Singh Bengani
		Registration #	17-22202

Street Address	A -50/51, Shopping Centre, Subhash Nagar, Jaipur – 302016, Rajasthan, India
Established Date	09.03.2006	SIC Code	--
Telephone#	91-141-2280196	Business Style 1	Distributor
Fax #	Not Available	Business Style 2	Wholesaler
Homepage	Not Available	Product Name 1	Electric Home Appliances
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.158,000/-	Product Name 3	--
Shareholders	Bodies Corporate – 10.00%, Directors or relatives of directors -90.00%	Banking	Bank of Baroda
Public Limited Corp.	No	Business Period	7 years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (42)
Related Company
Relation	Country	Company Name	CEO
Associates	India	Vijay Electron Private Limited
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	17,421,000	Current Liabilities	1,537,000
Inventories	9,045,000	Long-term Liabilities	15,497,000
Fixed Assets	395,000	Other Liabilities	3,037,000
Deferred Assets	0,000	Total Liabilities	20,071,000
Invest& other Assets	282,000	Retained Earnings	6,914,000
		Net Worth	7,072,000
Total Assets	27,143,000	Total Liab. & Equity	27,143,000
Total Assets (Previous Year)	26,751,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Total Income	Not Available	Net Profit	894,000
Total Income (Previous yr)	104,249,000	Net Profit(Prev.yr)	1,135,000

MIRA INFORM REPORT

Report Date :

07.09.2013

IDENTIFICATION DETAILS

Name :	VASUDHA VENTURE PRIVATE LIMITED

Registered Office :	A 50-51, Shopping Centre, Subhash Nagar, Jaipur – 302016, Rajasthan

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	09.03.2006

Com. Reg. No.:	17-022202

Capital Investment / Paid-up Capital :	Rs. 0.158 Million

CIN No.: [Company Identification No.]	U52190RJ2006PTC022202

Legal Form :	Private Limited Liability Company

Line of Business :	Distributor and Wholesaler of Electric Home Appliances.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 28000

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. There appears a slight dip in the net profitability during 2012. However, trade relations are fair. Business is active. Payment terms are reported as slow but correct. The company can be considered for business dealings at usual trade terns 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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure. Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

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 :	A 50-51, Shopping Centre, Subhash Nagar, Jaipur – 302016, Rajasthan, India
Tel. No.:	91-141-2280196
Mobile No.:	91-8829820000 (Mr. Rajendra Bansal)
Fax No.:	Not Available
E-Mail :	shahsurendra@rediffmail.com

Branch Office :	Behind Basni Police Station, Phase – 2, Basni, Jodhpur – 342005, Rajasthan, India

DIRECTORS

As on 29.09.2012

Name :

Mr. Jai Kumar Somani

Designation :

Director

Address :

A – 25, Subhash Nagar, Jaipur – 302016, Rajasthan, India

Date of Birth/Age :

18.02.1958

Date of Appointment :

30.11.2006

DIN No.:

00127288

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	U64202RJ2004PTC019762	ADITYA TELELINK PRIVATE LIMITED	Director	30/09/2010	01/10/2004	-	Active	NO
2	U52190RJ2006PTC022202	VASUDHA VENTURE PRIVATE LIMITED	Director	30/11/2006	30/11/2006	-	Active	NO
3	U45201RJ2007PTC023740	Vasudha Buildcon Venture Private Limited	Director	29/01/2007	29/01/2007	-	Active	NO
4	U52190RJ2006PTC023498	SURYANSH MARKETING INDIA PRIVATE LIMITED	Director	01/02/2008	01/02/2008	-	Active	NO

Name :

Mr. Vijai Singh Bengani

Designation :

Director

Address :

21 Gyan Vihar, Ajmer Road, Jaipur – 302019, Rajasthan, India

Date of Birth/Age :

07.11.1943

Date of Appointment :

09.03.2006

DIN No.:

00127260

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	U51395RJ2005PTC020684	VIJAY ELECTROCON PRIVATE LIMITED	Director	29/04/2005	29/04/2005	-	Active	NO
2	U52190RJ2006PTC022202	VASUDHA VENTURE PRIVATE LIMITED	Director	09/03/2006	09/03/2006	-	Active	NO
3	U45201RJ2007PTC023740	Vasudha Buildcon Venture Private Limited	Director	29/01/2007	29/01/2007	-	Active	NO

Name :

Mr. Nirmal Kumar Jain

Designation :

Director

Address :

D 140, Sumitra Path, Durga Marg, Bani Park, Jaipur – 302016, Rajasthan, India

Date of Birth/Age :

10.05.1953

Date of Appointment :

09.03.2006

DIN No.:

00127224

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	U52190RJ2006PTC022202	VASUDHA VENTURE PRIVATE LIMITED	Director	09/03/2006	09/03/2006	-	Active	NO
2	U45201RJ2007PTC023740	Vasudha Buildcon Venture Private Limited	Director	29/01/2007	29/01/2007	-	Active	NO

Name :

Mr. Hans Raj Sarawgi

Designation :

Director

Address :

A 102 Panchratn Apartments, Chopasni Road, Jodpur – 342003, Rajasthan, India

Date of Birth/Age :

12.07.1953

Date of Appointment :

29.09.2007

DIN No.:

00913963

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	U52190RJ2006PTC022202	VASUDHA VENTURE PRIVATE LIMITED	Director	29/09/2007	30/11/2006	-	Active	NO
2	U45201RJ2007PTC023740	Vasudha Buildcon Venture Private Limited	Director	29/01/2007	29/01/2007	-	Active	NO

KEY EXECUTIVE

Name :	Mr. Rajendra Bansal
Designation :	Manager

MAJOR SHAREHOLDERS

As on 29.09.2012

Names of Shareholders		No. of Shares
Nirmal Kumar Jain		1000
Vijay Singh Bengani		1000
Jai Kumar Somani		1000
Hans Raj Sarawgi		1100
Hans Raj Sarawgi - HUF		100
Jagdish Kandoi		100
Jagdish Kandoi - HUF		100
Kanika Sarawgi		100
Mridu Jain		1100
Pinki Bengani		600
Pooja Bengani		600
Pramod Jain HUF		100
Sameer Somani		100
Sarita Jain		600
Sarla Devi Somani		100
Sharddha Bhatiya		100
Suman Nahata		100
Sunita Jain		100
Sanjay Somani		100
Saroj Rani Kandoi		100
Raj Kumar Sethia		100
Pushpa Sarawgi		1100
Pan Mal Chopra		100
Surendra Kumar Thakkar		200
Ramesh Chitlangiya		100
Rajan Bharitya		100
Meha Singhi		100
Manju Somani		600
Sanjay Somani		1100
Deepak Bengani		1100
Dinesh Bengani		600
Rahul Baid		600
Sahadeo Lal Bansal		100
Kamla Devi Singhvi		100
Asha Bhansali		100
Vijay Electrocon Private Limited, India		500
Bhaskar Retail Sales Private Limited, India		1000
Total		15800

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Bodies corporate	10.00
Directors or relatives of Directors	90.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Distributor and Wholesaler of Electric Home Appliances.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Bank of India, Power House Road Branch, Kabir Marg, Banipark, Jaipur – 302016, Rajasthan, India
HDFC Bank Limited, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Facilities :

Secured Loans	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Short Term Borrowing
From Banks
OD/CC Facility from HDFC Bank Limited (Secured against hypothecation of stocks. Interest rate as on 31.03.2012 - 15%)	0.000	7.839
OD/CC Facility from Bank of Baroda (Secured against hypothecation of stocks. Interest rate as on 31.03.2012 - 13%)	3.197	0.000
Total	3.197	7.839


Banking Relations :	--

Auditors :
Name :	Shah Surendra and Associates Chartered Accountants
Address :	208, Anukampa – II, M I Road, Jaipur – 302001, Rajasthan, India
Tel. No.:	91-141-2362335
PAN No.:	AAMFS5772R

Associates :	Vijay Electron Private Limited · Vasudha · Vardhan · Dhara · Vasudha Buildcon Venture Private Limited

CAPITAL STRUCTURE

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount

100000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

15800	Equity Shares	Rs. 10/- each	Rs. 0.158 Million

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	0.158	0.158
(b) Reserves & Surplus	6.914	6.020
(c) Money received against share warrants	0.000	0.000
	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	7.072	6.178

(3) Non-Current Liabilities
(a) long-term borrowings	5.305	2.130
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.093	0.110
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	5.398	2.240

(4) Current Liabilities
(a) Short term borrowings	10.192	14.364
(b) Trade payables	1.537	1.329
(c) Other current liabilities	2.944	2.640
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	14.673	18.333

TOTAL	27.143	26.751

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.395	0.313
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.003	0.003
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.061	0.047
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	0.459	0.363

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	9.045	12.301
(c) Trade receivables	6.280	6.328
(d) Cash and cash equivalents	4.037	1.805
(e) Short-term loans and advances	7.043	5.947
(f) Other current assets	0.279	0.007
Total Current Assets	26.684	26.388

TOTAL	27.143	26.751

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.158
2] Share Application Money		0.000
3] Reserves & Surplus		4.885
4] (Accumulated Losses)		0.000
NETWORTH		5.043
LOAN FUNDS
1] Secured Loans		7.020
2] Unsecured Loans		13.469
TOTAL BORROWING		20.489
DEFERRED TAX LIABILITIES		0.000

TOTAL		25.532

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		0.410
Capital work-in-progress		0.000

INVESTMENT		0.003
DEFERRED TAX ASSETS		0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	10.271
	Sundry Debtors	1.386
	Cash & Bank Balances	1.278
	Other Current Assets	0.238
	Loans & Advances	13.213
Total Current Assets		26.386
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.008
	Other Current Liabilities	0.053
	Provisions	1.206
Total Current Liabilities		1.267
Net Current Assets		25.119

MISCELLANEOUS EXPENSES		0.000

TOTAL		25.532

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2012	31.03.2011	31.03.2010
	SALES
			Income
			Other Income
			TOTAL	NA	104.249	152.378

	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL		NA	102.572	148.603

	PROFIT BEFORE TAX			NA	1.677	3.775

Less	TAX			NA	0.542	1.206

	PROFIT AFTER TAX			0.894	1.135	2.569

	Earnings Per Share (Rs.)			56.60	71.83	162.62

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	1.09	1.69

Return on Total Assets (PBT/Total Assets}	(%)	NA	6.34	14.09

Return on Investment (ROI) (PBT/Networth)		NA	0.27	0.75

Debt Equity Ratio (Total Debt /Networth)		2.19	2.67	4.06

Current Ratio (Current Asset/Current Liability)		1.82	1.44	20.82

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last two 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	Yes
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

UNSECURED LOANS:

Particulars	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
From Related Parties - Unsecured, Considered Good*
Harsh Hansraj Sarawgi (Interest @15% p.a.)	2.100	2.130
Hansraj Sarawgi HUF (Interest @ 15% p.a.)	0.305	0.000
Hansraj Sarawgi (Interest @ 15% p.a.)	0.725	0.000
Pushpa Sarawgi (Interest @ 15% p.a.)	2.175	0.000
Short Term Borrowings
From Related parties
Jai Kumar Somani (Interest @ 15% p.a.)	0.000	0.400
Neha Sarawgi (Interest @ 15% p.a.)	3.500	1.930
Vardhan (Interest @ 15% p.a.)	0.277	0.000
Dhara (Interest free)	0.148	0.000
From Others	3.070	4.195
Total	12.300	8.655

Note:

Long Term Borrowing

*Afore said Loans are received from promoters and their relatives\associates for a long period without stipulating the terms and conditions with regard to repayment. In the opinion of Management, the afore said loans would not be demanded\repaid within a year from the date of Balance Sheet. In absence of agreements, Auditors have relied upon the classification made by Management.

INDEX OF CHARGE:

Sr .No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10324448	28/07/2012 *	11,500,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, Maharashtra - 400013, INDIA	B44459444

*Date of Modification charge

FINANCIAL RESULTS AND OPERATIONS:

During the year ended on 31st March 2012, the Company has earned a Net Profit after tax of Rs. 0.894 Million in comparison to last year Net Profit after tax of Rs. 1.135 Millions. The company hopes to do better in next financial year.

FIXED ASSETS:

Land
Computer
Mobile
Motor Cycle
Car
Office Equipments
Vehicle

· Furniture and Fixtures

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. 65.96
UK Pound	1	Rs. 102.91
Euro	1	Rs. 86.58

INFORMATION DETAILS

Report Prepared by :

VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
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	4
--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		42

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

NA

NA

NA

2.19

1.82

Unit