1. Summary Information

		Country	India
Company Name	M C O HOSPITAL AIDS PRIVATE LIMITED	Principal Name 1	Mr. Chandrakanth G. Mahalingashettty
Status	Satisfactory	Principal Name 2	Mr. Vakuda K. Krishnamoorthi
		Registration #	08-005283
Street Address	No 10, 1st Main, Amarjyothi Layout, Sanjaynagar, Bangalore - 560094, Karnataka, India
Established Date	27.04.1983	SIC Code	--
Telephone#	91-80-23442167 / 23440232 / 23466783	Business Style 1	Manufacturing
Fax #	91-80-23442165	Business Style 2	--
Homepage	www.mcoh.in	Product Name 1	Sutures
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.2,346,000	Product Name 3	--
Shareholders	Directors or relatives of directors 100%	Banking	Union Bank of India
Public Limited Corp.	NO	Business Period	30 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (52)
Related Company
Relation	Country	Company Name	CEO
Under Control of same management	--	V M Surgicals	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	66,716,000	Current Liabilities	19,060,000
Inventories	27,519,000	Long-term Liabilities	43,738,000
Fixed Assets	20,733,000	Other Liabilities	14,468,000
Deferred Assets	0,000	Total Liabilities	77,266,000
Invest& other Assets	969,000	Retained Earnings	36,325,000
		Net Worth	38,671,000
Total Assets	115,937,000	Total Liab. & Equity	115,937,000
Total Assets (Previous Year)	120,836,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	203,422,000	Net Profit	NA
Sales(Previous yr)	163,524,000	Net Profit(Prev.yr)	6,166,000

MIRA INFORM REPORT

Report Date :

10.09.2013

IDENTIFICATION DETAILS

Name :	M C O HOSPITAL AIDS PRIVATE LIMITED
Registered Office :	No 10, 1st Main, Amarjyothi Layout, Sanjaynagar, Bangalore - 560094, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	27.04.1983
Com. Reg. No.:	08-005283
Capital Investment / Paid-up Capital :	Rs. 2.346 Millions
CIN No.: [Company Identification No.]	U29297KA1983PTC005283
IEC No.:	0790008041
TAN No.: (Tax Deduction & Collection Account No.)	BLRM01578D
PAN No.: [Permanent Account No.]	AAACM9841N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of sutures.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 150000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payment terms are usually correct. The company can be considered for business dealing at usual trade terms and condition.

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	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

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/Marketing Office :	No 10, 1st Main, Amarjyothi Layout, Sanjaynagar, Bangalore - 560094, Karnataka, India
Tel. No.:	91-80-23442167 / 23440232 / 23466783
Fax No.:	91-80-23442165
E-Mail :	mcoh@bgl.vsnl.net.in mssv@vsnl.net mcoh@dataone.in drv.mssv@gmail.com
Website :	www.mcoh.in
Area :	3000 Sq. ft
Location :	Rented
Factory :	278, Bhairidevarkoppa, Post Box No. 23, Poona-Bangalore Highway, Hubli – 580 025, Karnataka
Tel. No.:	91-836-2372624/2375467
E-Mail :	maplhblch@sify.com
Area :	30000 Sq. ft
Location :	Owned

DIRECTORS

As on 26.09.2012

Name :

Mr. Chandrakanth Gurupadappa Mahalingashettty

Designation :

Managing Director

Address :

No 10, 1st Main, Amarjyothi Layout, Sanjaynagar, Bangalore - 560094, Karnataka, India

Date of Birth/Age :

30.10.1947

Qualification :

B.E. Civil

Date of Appointment :

27.04.1983

DIN No.:

00880686

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	U29297KA1983PTC005283	M C O HOSPITAL AIDS PRIVATE LIMITED	Managing director	27/04/1983	27/04/1983	-	Active	NO
2	U24239KA1985PTC007188	INDOCOAR PHARMA PRIVATE LIMITED	Managing director	04/10/1985	04/10/1985	-	Active	NO

Name :

Mr. Vakuda Kotambail Krishnamoorthi

Designation :

Director

Address :

No 827 Karnataka, Housing Board Colony, Gandhinagar Yelahanka, Bangalore – 560 064, Karnataka, India

Date of Birth/Age :

30.11.1957

Qualification :

B. Com.

Date of Appointment :

25.01.1993

DIN No.:

00880728

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	U24239KA1985PTC007188	INDOCOAR PHARMA PRIVATE LIMITED	Director	25/01/1993	25/01/1993	-	Active	NO
2	U29297KA1983PTC005283	M C O HOSPITAL AIDS PRIVATE LIMITED	Director	25/01/1993	25/01/1993	-	Active	NO

Name :

Mr. Bharath Mahalinga Shetty

Designation :

Director

Address :

107/ 3rd Main , 4th Cross, 1st Block, Rmv Ii Stage Bangalore -560094, Karnataka, India

Date of Birth/Age :

17.02.1981

Date of Appointment :

01.07.2007

DIN No.:

05189568

Name :

Mr. Vimala Chandrakanth Mahalingashetty

Designation :

Director

Address :

No 10, 1st Main, Amarjyothi Layout, Sanjaynagar, Bangalore - 560094, Karnataka, India

Date of Birth/Age :

06.03.1957

Date of Appointment :

01.11.2005

DIN No.:

00880751

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	U24239KA1985PTC007188	INDOCOAR PHARMA PRIVATE LIMITED	Director	05/10/2001	05/10/2001	29/08/2008	Active	NO
2	U29297KA1983PTC005283	M C O HOSPITAL AIDS PRIVATE LIMITED	Director	01/11/2005	01/11/2005	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2012

Names of Shareholders	No. of Shares
Chandrakant G Mahalingashetty	16897
Parvatama G Mahalingashetty	10
Chandrakant G Mahalingashetty (HUF)	6553
Total	23460

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of sutures.

Products :

Item Code No.	Product Description
901890	Surgical Instruments

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Union Bank of India, SSI Branch, No. 43/1, 1^st Floor, Tumkur Road, Yeshwanthpur, Bangalore – 560 022, Karnataka, India

Facilities :

Secured Loan

31.03.2012

(Rs. in Millions)

31.03.2011

(Rs. in Millions)

Long-term Borrowings

Term loans from bank

9.097

7.557

Long term maturities of finance lease obligations

0.561

0.035

Short-term borrowings

Others

Overdraft

29.706

39.083

Total

39.364

46.675

Note:

Particulars	Nature of security	Term of repayment
Term loan 502806110000436	Hypothecation of plant and machinery	Amount Sectioned Rs.11.900 Millions amount disbursed Rs.1.288 Millions commencement of repayment only after the disbarment of the entire amount
Term loan 502806110000435	Hypothecation of factory land and building at sulla village hubli	Amount sectioned Rs. 25.600 Millions Amount Disbursed Rs.7.809 Millions Commencement of repayable only after the disbarment of the entire amount
Others Overdraft	Hypothecation of stocks and Book	--

Banking Relations :	--
Auditors :
Name :	MSSV and Company Chartered Accountants
Address :	No. 63/2, Above Canara Bank, Railway Parallel Road, Kumarapark West, Bangalore – 560020, Karnataka, India
Tel No.:	91-80-23565065/23565068/23565073
Fax No.:	91-80-23565076
PAN N Income-tax PAN of auditor or auditor's firm :	AABFM1529R
Under Control of same management:	V M Surgicals

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.100/- each	Rs.4.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
23460	Equity Shares	Rs.100/- each	Rs.2.346 millions

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	2.346	2.346
(b) Reserves & Surplus	36.325	28.565
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	38.671	30.911
(3) Non-Current Liabilities
(a) long-term borrowings	14.032	10.201
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	14.032	10.201
(4) Current Liabilities
(a) Short term borrowings	29.706	39.083
(b) Trade payables	15.705	21.892
(c) Other current liabilities	3.355	3.948
(d) Short-term provisions	14.468	14.801
Total Current Liabilities (4)	63.235	79.724
TOTAL	115.937	120.836
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	20.733	21.138
(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	0.941	0.072
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.131
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	21.674	21.341
(2) Current assets
(a) Current investments	0.028	0.028
(b) Inventories	27.519	25.782
(c) Trade receivables	50.388	45.520
(d) Cash and cash equivalents	3.779	18.415
(e) Short-term loans and advances	7.491	5.157
(f) Other current assets	5.058	4.593
Total Current Assets	94.263	99.495
TOTAL	115.937	120.836

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.346
2] Share Application Money		0.000
3] Reserves & Surplus		22.399
4] (Accumulated Losses)		0.000
NETWORTH		24.745
LOAN FUNDS
1] Secured Loans		32.573
2] Unsecured Loans		2.619
TOTAL BORROWING		35.192
DEFERRED TAX LIABILITIES		0.000
TOTAL		59.937
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		13.254
Capital work-in-progress		0.000
INVESTMENT		0.031
DEFERREX TAX ASSETS		0.177
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.662
	Sundry Debtors	82.381
	Cash & Bank Balances	4.484
	Other Current Assets	0.000
	Loans & Advances	13.316
Total Current Assets		107.843
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	55.358
	Other Current Liabilities	1.713
	Provisions	4.297
Total Current Liabilities		61.368
Net Current Assets		46.475
MISCELLANEOUS EXPENSES		0.000
TOTAL		59.937

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	203.422	163.524	217.363
		Other Income	NA	NA	0.955
		Finished Goods and Work in Progress	NA	NA	(5.360)
		TOTAL (A)	NA	NA	212.958
Less	EXPENSES
		Operating Expenses			96.996
		Administrative Expenses			98.118
		Foreign Exchange Loss (Net)			0.009
		TOTAL (B)	NA	NA	195.123
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	NA	17.835
Less	FINANCIAL EXPENSES (D)		NA	NA	4.200
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		11.804	10.726	13.635
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.836	1.597	1.191
	PROFIT BEFORE TAX (E-F) (G)		9.968	9.129	12.444
Less	TAX (H)		NA	2.963	4.251
	PROFIT AFTER TAX (G-H) (I)		NA	6.166	8.193
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	19.369	11.176
	BALANCE CARRIED TO THE B/S		NA	25.535	19.369
	Earnings Per Share (Rs.)		NA	389.15	530.43

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	3.85
Net Profit Margin (PBT/Sales)	(%)	4.90	5.58	5.72
Return on Total Assets (PBT/Total Assets}	(%)	8.67	7.56	10.28
Return on Investment (ROI) (PBT/Networth)		0.26	0.30	0.50
Debt Equity Ratio (Total Debt /Networth)		1.13	1.59	1.42
Current Ratio (Current Asset/Current Liability)		1.49	1.25	1.76

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	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

NOTE:

The registered office address of the company has been shifted from #32,1ST Main Road,Lower Palace Orchards

Bangalore – 560003, Karnataka, India to present address w.e.f. 21.10.2011

PERFORMANCE

During the year the Company achieved a turnover of Rs. 203.422 Millions (Previous year Rs. 163.524 Millions). The operation for the year ended March 31, 2012 resulted in a Profit of Rs 9.968 Millions (Previous year Rs 9.129 Millions) after providing for depreciation at Rs.1.836 Millions (Previous year Rs. 1.597 Millions).

CORPORATE INFORMATION

The company was incorporated on 27 April, 1983 , having its registered office at No 10, 1st Main Road, Amarjyothi Layout, Geddalahalli, Sanjaynagar, Bangalore 560 094. The company is primarily engaged in the business of manufacturing of sutures.

UNSECURED LOAN

PARTICULARS

31.03.2012

(Rs. in Millions)

31.03.2011

(Rs. in Millions)

Long-term Borrowings

Loans and advance from related parties

4.373

2.608

Total

4.373

2.608

Note:

Particulars	Terms of repayment
Loans and advance from related parties	Repayable of demand

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10431435	08/05/2013	105,000.00	UNION BANK OF INDIA	BANGALORE SSI FINANCE BRANCH, 43/1, 1ST FLOOR, TUMKUR ROAD, YESHWANTHAPUR INDL. SUBURB, BANGALORE, KARNATAKA - 560022, INDIA	B77234219
2	10413760	18/02/2013	268,000.00	UNION BANK OF INDIA	BANGALORE SSI FINANCE BRANCH, NO.43/1, 1ST FLOOR, TUMKUR ROAD, YESHWANTHAPURA INDL. SUBURB, BANGALORE, KARNATAKA - 560022, INDIA	B71435697
3	10286148	21/04/2011	200,000.00	UNION BANK OF INDIA	SSI FINANCE BRANCH, NO.43/1, YESHWANTPUR INDUSTRIAL SUBURB, BANGALORE, KARNATAKA - 560022, INDIA	B12679478
4	10207094	16/02/2010	37,500,000.00	UNION BANK OF INDIA	SSI FINANCE BRANCH, 43/1, 1ST FLOOR, TUMKUR ROAD, YESHWANTPUR INDUSTRIAL SUBURB, BANGALORE, KARNATAKA - 560022, INDIA	A81014623
5	80028540	22/12/2012 *	85,200,000.00	UNION BANK OF INDIA	SSI FINANCE BRANCH, 43/1, 1ST FLOOR, TUMKUR ROAD, YESHWANTHPUR INDL. SUBURB. BANGALORE, KARNATAKA - 560022, INDIA	B66629171

Note: * Date of charge modification

FIXED ASSETS

• Land
• Building
• Vehicles
• Plant and machinery
• Furniture
• Office Equipments
• Computer
• Electrical Fitting
• Pollution Control Treatment Plant

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 :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		52

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.