1. Summary Information

		Country	India
Company Name	R.L. JAIN EQUIPMENTS PRIVATE LIMITED	Principal Name 1	Mr. Priyankar Jain
Status	Moderate	Principal Name 2	Mr. Konark Jain
		Registration #	17-032450
Street Address	G-13, M. I. A. Extension, Road No.12, Udaipur-313001, Rajasthan
Established Date	27.07.2010	SIC Code	--
Telephone#	91-294-2486810	Business Style 1	Trader
Fax #	91-294-5100506	Business Style 2	--
Homepage	www.rljain.com	Product Name 1	Equipments
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 500,000/-	Product Name 3	--
Shareholders	Directors or relatives of Directors 100.00%	Banking	HDFC Bank Limited
Public Limited Corp.	No	Business Period	3 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B (27)
Related Company
Relation	Country	Company Name	CEO
Sister Concern	India	Roshanlal Jain and Company	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	25,292,000	Current Liabilities	139,168,000
Inventories	140,840,000	Long-term Liabilities	26,630,000
Fixed Assets	2,901,000	Other Liabilities	615,000
Deferred Assets	000	Total Liabilities	166,413,000
Invest& other Assets	000	Retained Earnings	2,120,000
		Net Worth	2,620,000
Total Assets	169,033,000	Total Liab. & Equity	169,033,000
Total Assets (Previous Year)	61,055,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	358,161,000	Net Profit	1,141,000
Sales(Previous yr)	210,831,000	Net Profit / (Loss) (Prev.yr)	986,000

MIRA INFORM REPORT

Report Date :

02.04.2014

IDENTIFICATION DETAILS

Name :	R.L. JAIN EQUIPMENTS PRIVATE LIMITED
Registered Office :	G-13, M. I. A. Extension, Road No.12, Udaipur-313001, Rajasthan
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	27.07.2010
Com. Reg. No.:	17-032450
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U29246RJ2010PTC032450
Legal Form :	Private Limited Liability Company
Line of Business :	Trader in Equipments
No. of Employees :	More than 50 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 10480
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has taken huge external borrowing, which acts as threatening to the liquidity position of the company. Profitability of the company is low. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

India’s current account deficit for the fiscal third quarter ended September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and moderation in gold imports. Manufacturing activity and new orders in India showed their strongest growth in a year in February. The news comes as a relief after data showed Asia’s third largest economy grew by a slower-than-expected 4.7 % annually in the three months through December. The HSBC Manufacturing Purchasing Managers’ Index which gauges the business activity of India’s factories but not its’ utilities, rose to 52.5 in February, its highest in a year from 51.4 in January. Overall new orders for factory goods which rose to a one-year high of 54.9 contributed to the surge. China has emerged as India’s biggest trading partner in the current financial year replacing the United Arab Emirates and pushing it to the third spot. India-China trade has reached $49.5 billion with a 8.7 % share in India’s total trade. The US comes second at $46 billion with 8.1 % share during the first nine months of the current financial year.

The Reserve Bank of India has granted an additional nine months to the public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000 denominations, pushing the deadline to January 1, 2015. A day before dates for the Lok Sabha polls were announced, the government decided to hike interest rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The new rates will be effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s appeal against a ruling over transferring ownership of its local mobile phones plant which is the subject of a tax dispute to Microsoft Corp.

In the last days of the current Government, another scam has surfaced. The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau of Investigation will look into allegations that over $80 million was paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a solution for problems with state-owned Air India’s 787 Dreamliners. The aircraft has experienced a series of malfunctions since its debut in 2011.

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

Name :	Mr. Rishabh Jain
Designation :	Director
Contact No.:	91-9929860248
Date :	29.03.2014

LOCATIONS

Registered Office :	G-13, M. I. A. Extension, Road No.12, Udaipur-313001, Rajasthan, India
Tel. No.:	91-294-2486810 / 2491324
Mobile No.:	91-9829748282 (Mr. Konark Jain) 91-9929860248 (Mr. Rishabh Jain)
Fax No.:	91-294-5100506
E-Mail :	ostwal.surendra@gmail.com contact@rljain.com accounts@roshanlaljain.com
Website :	www.rljain.com

DIRECTORS

AS ON 30.09.2013

Name :	Mr. Priyankar Jain
Designation :	Director
Address :	56, Anand Nagar, University Road, Udaipur-313001, Rajasthan, India
Date of Birth/Age :	28.12.1983
Date of Appointment :	27.07.2010
DIN No.:	03062413
Name :	Mr. Konark Jain
Designation :	Director
Address :	41, Anand Nagar, University Road, Udaipur-313001, Rajasthan, India
Date of Birth/Age :	12.08.1985
Date of Appointment :	27.07.2010
DIN No.:	03062422
Name :	Mr. Rishabh Jain
Designation :	Director
Address :	56, Anand Nagar, University Road, Udaipur-313001, Rajasthan, India
Date of Birth/Age :	27.03.1986
Date of Appointment :	27.07.2010
DIN No.:	03062435
Name :	Mr. Ladulal Jain
Designation :	Director
Address :	56, Anand Nagar, University Road, Udaipur-313001, Rajasthan, India
Date of Birth/Age :	15.04.1960
Date of Appointment :	01.10.2010
DIN No.:	00374615

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	Company/ LLP Status	Defaulting status
1	U29299RJ2005PTC021675	ROLSON EQUIPMENTS PRIVATE LIMITED	Director	28-11-05	28-11-05	Active	NO
2	U36101RJ2002PTC017395	PRAKASH WOOD PALACE PRIVATE LIMITED	Director	01-03-08	01-03-08	Active	NO
3	U29246RJ2010PTC032450	R.L. JAIN EQUIPMENTS PRIVATE LIMITED	Director	01-10-10	01-10-10	Active	NO

Name :	Mr. Bhagwati Lal Jain
Designation :	Director
Address :	41, Anand Nagar, University Road, Udaipur-313001, Rajasthan, India
Date of Birth/Age :	29.02.1964
Date of Appointment :	01.10.2010
DIN No.:	00374651

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	Company/ LLP Status	Defaulting status
1	U29299RJ2005PTC021675	ROLSON EQUIPMENTS PRIVATE LIMITED	Director	28-11-05	28-11-05	Active	NO
2	U36101RJ2002PTC017395	PRAKASH WOOD PALACE PRIVATE LIMITED	Director	01-03-08	01-03-08	Active	NO
3	U29246RJ2010PTC032450	R.L. JAIN EQUIPMENTS PRIVATE LIMITED	Director	01-10-10	01-10-10	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares	% of Holding
Priyankar Jain	16000	32.00
Konark Jain	16000	32.00
Rishabh Jain	16000	32.00
Ladulal Jain	1000	2.00
Bhagwati Lal Jain	1000	2.00
TOTAL	50000	100.00

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Trader in Equipments
Imports :
Products :	Raw Materials
Countries :	Korea China Dubai
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

GENERAL INFORMATION

Suppliers :

• Hyundai Heavy Industries Company Limited

Customers :

End Users

• Maluka Industries, Jaipur
• J.K. Arora

No. of Employees :

More than 50 [Approximately]

Bankers :

• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India
• Axis Bank Limited, 222/21, Saheli Marg, Udaipur-313001, Rajasthan, India
• Kotak Mahindra Bank

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. In Millions]
Long Term Borrowings
Kotak Mahindra Bank (Senta-FE)	0.895	1.582
Kotak Mahindra Bank – Bolero Loans	0.270	0.407
Bank of Maharashtra – Loan	0.540	0.000
HDFC Buyer’s Credit	1.415	0.000
Short Term Borrowings
HDFC CC A/C 0065	10.253	0.000
HDFC IF A/C 00467	7.260	0.000
Axis Bank Cash Credit Limit	0.000	6.606
TOTAL	20.633	8.595
NOTES: Long Term Borrowings: Term loan from Kotak Mahindra Bank (Senta FE) is payable in equited periodic installment upto a 34 months from the date of respective loan. The term loan is secured by first executive charge on the Car Senta FE. Term loan from Kotak Mahindra Bank (Bolero) is payable in equited periodic installment upto a 36 months from the date of respective loan. The term loan is secured by first executive charge on the Mahindra Bolero pickup. Short Term Borrowings: Working capital loan from HDFC Bank, Udaipur are secured by way of first executive charge by hypothecation on all stock and book debts of the company. The loans are collaterally secured by personal guarantee of directors of the company and immovable property of relatives of director.

Banking Relations :	--
Auditors :
Name :	Surendra Ostwal and Company Chartered Accountant
Address :	7-B, Bapu Bazar Circle, Above Shri Udaipur Krishi Kendra, Udaipur-313001, Rajasthan, India
Tel. No.:	91-294-2418046
Mobile No.:	91-9414162573
PAN No:	ABBFS0339Q
Sister Concern :	Roshanlal Jain and Company, Udaipur, Rajasthan, India

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	0.500
(b) Reserves & Surplus	2.120
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	2.620
(3) Non-Current Liabilities
(a) Long-term borrowings	9.117
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) Long-term provisions	0.000
Total Non-current Liabilities (3)	9.117
(4) Current Liabilities
(a) Short term borrowings	17.513
(b) Trade payables	136.929
(c) Other current liabilities	2.239
(d) Short-term provisions	0.615
Total Current Liabilities (4)	157.296
TOTAL	169.033
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.901
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
Total Non-Current Assets	2.901
(2) Current assets
(a) Current investments	0.000
(b) Inventories	140.840
(c) Trade receivables	23.657
(d) Cash and cash equivalents	0.165
(e) Short-term loans and advances	0.605
(f) Other current assets	0.846
(g) Misc. expenses	0.019
Total Current Assets	166.132
TOTAL	169.033

SOURCES OF FUNDS		31.03.2012	31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.500	0.500
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.979	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1.479	0.500
LOAN FUNDS
1] Secured Loans		8.595	0.000
2] Unsecured Loans		3.000	0.045
TOTAL BORROWING		11.595	0.045
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		13.074	0.545
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.880	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	50.027	0.000
	Sundry Debtors	4.548	0.000
	Cash & Bank Balances	1.946	0.006
	Other Current Assets	0.026	0.039
	Loans & Advances	1.628	0.500
Total Current Assets		58.175	0.545
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	46.339	0.000
	Other Current Liabilities	1.173	0.000
	Provisions	0.469	0.000
Total Current Liabilities		47.981	0.000
Net Current Assets		10.194	0.545
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		13.074	0.545

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	358.161	210.831	0.000
		Other Income	6.075	3.593	0.000
		TOTAL	364.236	214.424	0.000
Less	EXPENSES
		TOTAL	361.630	212.415	0.007
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		2.606	2.009	(0.007)
Less/ Add	DEPRECIATION/ AMORTISATION		0.851	0.554	0.000
	PROFIT / (LOSS) BEFORE TAX		1.755	1.455	(0.007)
Less	TAX		0.614	0.469	0.000
	PROFIT / (LOSS) AFTER TAX		1.141	0.986	(0.007)
	Earnings / (Loss) Per Share (Rs.)		22.82	19.72	(0.13)

Expected Sales (2013-14) : Rs.500.000 Millions.

The above information has been parted by Mr. Rishabh Jain.

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.31	0.46	0.00
Net Profit Margin (PBT/Sales)	(%)	0.49	0.69	0.00
Return on Total Assets (PBT/Total Assets}	(%)	1.04	2.38	(1.28)
Return on Investment (ROI) (PBT/Networth)		0.67	0.98	(0.01)
Debt Equity Ratio (Total Debt/Networth)		10.16	7.84	0.09
Current Ratio (Current Asset/Current Liability)		1.05	1.21	0.00

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	0.000	210.831	358.161
			69.881

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	0.000	210.831	358.161
Profit	(0.007)	0.986	1.141
		0.47%	0.32%

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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10376641	25/07/2013 *	25,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA	B84658608
2	10378020	03/08/2012	15,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA	B58661828

* Date of charge modification

OPERATIONAL REVIEW:

During the year their company has achieved turnover of Rs. 358.161 Millions as compared to last year Rs.210.831 Millions. The Sales is increased by Rs.147.330 Millions as compare to last year. The Net Profit before tax during the year is Rs.1.755 Millions as compared to last year profit Rs.1.455 Millions. The company enjoys good confidence among the existing customers.

Unsecured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. In Millions]
Long Term Borrowings
From Directors and Related Parties	5.997	3.000
TOTAL	5.997	3.000

FIXED ASSETS:

• Vehicle and Car
• Computer
• Furniture
• Office Equipments

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.60.10
UK Pound	1	Rs.99.85
Euro	1	Rs.82.57

INFORMATION DETAILS

Information Gathered by :	PRT
Report Prepared by :	TPT

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	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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		27

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.