MIRA INFORM REPORT

Report Date :

17.09.2013

IDENTIFICATION DETAILS

Name :	BALLY SA
Registered Office :	via Industria 1, Caslano, 6987
Country :	Switzerland
Date of Incorporation :	23.02.2000
Com. Reg. No.:	464202
Legal Form :	Limited Company
Line of Business :	Wholesaler of footwear
No. of Employees :	350

RATING & COMMENTS

MIRA’s Rating :

B

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.

ECGC Country Risk Classification List – March 31^st 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Switzerland	A1	A1

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

switzerland ECONOMIC OVERVIEW

Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy recovered in 2010 with 3.0% growth. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safe-haven currency. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell to 1.9% in 2011 and 0.8% in 2012. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and is considering the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy.

Source : CIA

Company Summary

Company Name Bally SA

Company Registration Number CH51430241917

Country CH

Activity Code 464202

Activity Description Wholesale of footwear

Company Status Active

Company Identification

Activities

Activity Code 464202

Activity Description Wholesale of footwear

Basic Information

Company Name Bally SA

Registered Company Name Bally SA

Company Registration Number CH51430241917

Country CH

Date of Company Registration 23/02/2000

Date of Starting Operations 23/02/2000

Legal Form Limited company

Company Status Active

Principal Activity Code 464202

Principal Activity Description Wholesale of footwear

Contact Address via Industria 1, Caslano, 6987

Contact Telephone Number 0916129111

Main Address

Address via Industria 1, Caslano, 6987

Country CH

Telephone 0916129111

Current Directors Managers

Name Laura Carpeggiani

Address Leggiuno

Position Authorized Signatory

Name Prisca Girardi

Address Neggio, 6991

Position Authorized Signatory

Name Francesca Perotta

Address Dumenza

Position Authorized Signatory

Name Paolo Sala

Address Cadegliano Viconago

Position Authorized Signatory

Name Mihaela Smickoski

Address Lugano, 6900

Position Authorized Signatory

Name Stefano Sacchet

Address Rovio, 6821

Position President Of The Board Of Directors

Name Raniero Addorisio De Feo

Address Aarau, 5000

Position Member

Share Capital Structure

Nominal Share Capital 22.10 (CHF)

Name Bally International AG

Share Percent 100.00 %

Employee Information

Year

Number of Employees 350

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.48
UK Pound	1	Rs.99.66
Euro	1	Rs.83.50

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

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.