MIRA INFORM REPORT

Report Date :

22.08.2014

IDENTIFICATION DETAILS

Name :	P. M. IMPEX PRIVATE LIMITED
Registered Office :	2473 / 13, Govardhan Bihari Colony, Shahdra, , New Delhi - 110032
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	07.01.2008
Com. Reg. No.:	55-172318
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U51109DL2008PTC172318
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Pre Engineered Building, Color Coated Coil, etc.
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 14000
Status :	Small company
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. Trade relations are reported as fair. Business is active. Payment term are reported to be slow but correct. The company can be considered for small business dealing with great 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Prashant Aggarwal
Designation :	Director
Contact No.:	91-9911239991
Date :	14.08.2014

LOCATIONS

Registered Office :	2473 / 13, Govardhan Bihari Colony, Shahdra, , New Delhi - 110032
Tel. No.:	91-120-6541083
Mobile No.:	91-9911239991(Mr. Prashant)
Fax No.:	Not Available
E-Mail :	camcarecords@gmail.com gupta_ps@yahoo.co.in
Location :	Owned
Corporate Office / Factory Address :	Plot No. 57, Mahila Udyami Park – I, Ecotech – III, Greater Noida – 201308, Uttar Pradesh, India
Tel. No.:	91-120-6541083
Fax No.:	91-120-6541084

DIRECTORS

As on 30.09.2013

Name :

Mr. Prashant Aggarwal

Designation :

Director

Address :

28 B, Bharat Nagar, New Friends Colony, Delhi – 110085, Delhi, India

Date of Birth/Age :

19.07.1988

Date of Appointment :

07.01.2008

DIN No.:

01511760

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	U51909DL2007PTC164571	M.P.TRADEX PRIVATE LIMITED	Director	11/06/2007	11/06/2007	12/06/2012	Active	NO
2	U51109DL2008PTC172318	P.M. IMPEX PRIVATE LIMITED	Director	07/01/2008	07/01/2008	-	Active	NO
3	U51109DL2008PTC172313	DEVAVRATA TRADEX PRIVATE LIMITED	Director	26/07/2013	14/05/2008	02/08/2013	Active	NO
4	U22222DL2008PTC182569	KRATIN MEDIA PRIVATE LIMITED	Director	28/08/2008	28/08/2008	-	Active	NO
5	U74999DL2010PTC197900	FIGMENT ENGINEERS PRIVATE LIMITED	Director	13/01/2010	13/01/2010	-	Active	NO
6	U18101DL2010PTC211924	AFREEN DESIGN PRIVATE LIMITED	Director	30/12/2010	30/12/2010	-	Active	NO
7	U18201DL2011PTC224877	LIFELONG CREATIONS PRIVATE LIMITED	Director	09/09/2011	09/09/2011	-	Active	NO
8	U70109DL2011PTC227249	AASHIRWAD BUILDWELL PRIVATE LIMITED	Director	09/11/2011	09/11/2011	-	Active	NO
9	U51909DL2011PTC228462	SARYU TRADEX PRIVATE LIMITED	Director	09/12/2011	09/12/2011	-	Active	NO
10	U51311DL2002PTC117560	GEMINI TEXTILES PRIVATE LIMITED	Director	31/12/2012	31/12/2012	-	Active	NO
11	U51390DL2013PTC254278	AP SWASTIK TILES PRIVATE LIMITED	Director	25/06/2013	25/06/2013	-	Active	NO
12	U72900UP2014PTC062865	VPR INFOTECH PRIVATE LIMITED	Director	21/02/2014	21/02/2014	24/07/2014	Active	NO

Name :

Mr. Mahesh Kumar Aggarwal

Designation :

Director

Address :

28 B, Bharat Nagar, New Friends Colony, Delhi – 110085, Delhi, India

Date of Birth/Age :

19.09.1964

Date of Appointment :

07.01.2008

DIN No.:

01511764

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	U51909DL2007PTC164571	M.P.TRADEX PRIVATE LIMITED	Director	11/06/2007	11/06/2007	12/06/2012	Active	NO
2	U51109DL2008PTC172318	P.M. IMPEX PRIVATE LIMITED	Director	07/01/2008	07/01/2008	-	Active	NO
3	U74120DL2008PTC173530	FANTASY TRADEX PRIVATE LIMITED	Director	04/02/2008	04/02/2008	-	Active	NO
4	U70109DL2011PTC227249	AASHIRWAD BUILDWELL PRIVATE LIMITED	Director	09/11/2011	09/11/2011	-	Active	NO
5	U51494DL2012PTC233360	MANVIRAHUL READYMADE GARMENTS PRIVATE LIMITED	Director	26/03/2012	26/03/2012	10/07/2012	Active	NO
6	U22222DL2008PTC182569	KRATIN MEDIA PRIVATE LIMITED	Director	11/12/2012	11/12/2012	-	Active	NO
7	U25200DL2007PTC169810	SN POLYTECH PRIVATE LIMITED	Director	28/03/2013	28/03/2013	19/12/2013	Active	NO
8	U51101UP2013PTC059660	M.P.N.OVERSEAS PRIVATE LIMITED	Director	20/09/2013	20/09/2013	-	Active	NO
9	U74900UP2013PTC061015	M.S. ENGIWORK PRIVATE LIMITED	Director	04/12/2013	04/12/2013	02/08/2014	Active	NO
10	U51900UP2014PTC063979	DNP ENGINEERS PRIVATE LIMITED	Director	26/05/2014	26/05/2014	-	Active	NO
11	U51101UP2014PTC064477	HARPY ENGITECH PRIVATE LIMITED	Director	25/06/2014	25/06/2014	-	Active	NO
12	U51505DL2014PTC269769	MAHODAR ENGIWORKS PRIVATE LIMITED	Director	01/08/2014	01/08/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Prashant Aggarwal	5000
Mahesh Kumar Aggarwal	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Pre Engineered Building, Color Coated Coil, etc.
Terms :
Selling :	Advance Payment
Purchasing :	Cash and Advance Payment

GENERAL INFORMATION

Customers :

Wholesalers, Retailers, End Users

No. of Employees :

60 (Approximately)

Bankers :

Punjab and Sind Bank, B – 2, Noida – 201301, Uttar Pradesh, India

Facilities :

Total Facilities of Rs. 15.000 Millions From Punjab and Sind Bank, Noida, India

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
Short term borrowing	18.604	0.000

Banking Relations :	---
Auditors :
Name :	Prem Gupta and Associates Chartered Accountant
Address :	2, TC Jaina Complex, 1^st Floor, Opposite Moti Restaurant, Netaji Subhash Marg, Darya Ganj, New Delhi – 02, India
Tel No.:	91-23259341/23258942

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	0.267	(0.017)
(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)	0.367	0.083
(3) Non-Current Liabilities
(a) long-term borrowings	6.454	2.340
(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)	6.454	2.340
(4) Current Liabilities
(a) Short term borrowings	18.604	0.000
(b) Trade payables	3.346	0.123
(c) Other current liabilities	1.470	0.080
(d) Short-term provisions	0.000	0.003
Total Current Liabilities (4)	23.420	0.206
TOTAL	30.241	2.629
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	8.574	2.373
(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	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	8.574	2.373
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	11.985	0.000
(c) Trade receivables	0.487	0.236
(d) Cash and cash equivalents	1.527	0.020
(e) Short-term loans and advances	7.668	0.000
(f) Other current assets	0.000	0.000
Total Current Assets	21.667	0.256
TOTAL	30.241	2.629

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.100
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		2.340
TOTAL BORROWING		2.340
DEFERRED TAX LIABILITIES		0.000
TOTAL		2.440
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.373
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.046
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		0.046
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.003
	Provisions	0.000
Total Current Liabilities		0.003
Net Current Assets		0.043
MISCELLANEOUS EXPENSES		0.024
TOTAL		2.440

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Income	26.150	0.000
		Other Income	0.430	0.236
		TOTAL	26.580	0.236
Less	EXPENSES
		Purchases of Stock-in-Trade	32.922	0.000
		Inventory	(11.985)	0.000
		Employees benefits expense	0.989	0.055
		Other expenses	3.942	0.171
		TOTAL	25.868	0.226
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.712	0.009
Less/ Add	DEPRECIATION/ AMORTISATION		0.427	0.000
	PROFIT BEFORE TAX		0.285	0.009
Less	TAX		0.000	0.003
	PROFIT AFTER TAX		0.285	0.006
	Earnings Per Share (Rs.)		28.50	NA

Particulars	31.03.2014
Sales Turnover (Approximately)	60.000

The above information has been parted by Mr. Prashant Aggarwal

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.07	2.54	NA
Net Profit Margin (PBT/Sales)	(%)	1.08	0.00	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.94	0.34	NA
Return on Investment (ROI) (PBT/Networth)		0.78	0.11	NA
Debt Equity Ratio (Total Debt /Networth)		68.28	28.19	23.40
Current Ratio (Current Asset/Current Liability)		0.93	1.24	15.33

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	0.100
Reserves & Surplus	(0.017)	0.267
Net worth	0.083	0.367
long-term borrowings	2.340	6.454
Short term borrowings	0.000	18.604
Total borrowings	2.340	25.058
Debt/Equity ratio	28.193	68.278

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Total Income	0.236	26.580
		11,162.712

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Total Income	0.236	26.580
Profit	0.006	0.285
	2.54%	1.07%

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 two 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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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 LOAN

(Rs. in Million)

Unsecured Loan	As on 31.03.2013	As on 31.03.2012
Long Term Borrowing
Other loans and advance	6.454	2.340

INDEX OF CHARGES

S.NO.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10471885	29/11/2013	15,000,000.00	PUNJAB AND SIND BANK	D - 2C, SECTOR - 18, ATTA, NOIDA, Uttar Pradesh -  201301, INDIA	B94128758
2	10446334	09/07/2013	15,600,000.00	PUJAB AND SIND BANK	B - 2 C,, Sector - 18, Noida, Uttar Pradesh - 201  301, INDIA	B83678045
3	10426592	23/03/2013	2,200,000.00	PUNJAB AND SIND BANK	B - 2C, SECTOR - 18, NOIDA, Uttar Pradesh - 20130  1, INDIA	B75422089
4	10426629	23/03/2013	9,500,000.00	PUNJAB AND SIND BANK	B - 2 C, SECTOR - 18, NOIDA, Uttar Pradesh - 2013  01, INDIA	B75422618
5	10378929	23/03/2013 *	17,673,000.00	PUNJAB AND SIND BANK	B - 2C, SECTOR - 18, NOIDA, Uttar Pradesh - 20130  1, INDIA	B75479592

FIXED ASSETS

· Bike

· Cctv

· Computer

· D. G. Set

· Electrical Installation

· Crane

· Mobile

· Plant AND Machinery

· Water Cooler

· Land And Machinery

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. 60.66
UK Pound	1	Rs. 100.80
Euro	1	Rs. 80.72

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	RSM
Report Prepared by :	KLS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.