MIRA INFORM REPORT

Report Date :

06.12.2014

IDENTIFICATION DETAILS

Name :	SWISSLINE INTERTRADE PRIVATE LIMITED (w.e.f. 09.05.2013)
Formerly Known As :	SURYA VINAYAK STEEL PRIVATE LIMITED
Registered Office :	B-4, 2^nd Floor, Shankar Garden, Vikaspuri, New Delhi - 110018
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.02.2006
Com. Reg. No.:	55-145932
Capital Investment / Paid-up Capital :	Rs. 49.769 Millions
CIN No.: [Company Identification No.]	U51909DL2006PTC145932
TAN No.: [Tax Deduction & Collection Account No.]	DELS36051B
PAN No.: [Permanent Account No.]	AAJCS6595A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Trading of Steel Products.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 686000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered normal for business dealings at usual trade terms 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 – 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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating: “BB-”
Rating Explanation	Moderate risk of default.
Date	30.10.2013

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. Jain
Designation :	Accountant
Contact No.:	91-11-45299900
Date :	04.12.2014

LOCATIONS

Registered Office :	B-4, 2^nd Floor, Shankar Garden, Vikaspuri, New Delhi – 110018, India
Tel. No. :	91-11-45299900
Fax No. :	Not Available
E-Mail :	svspldelhi@gmail.com
Location :	Owned
Factory 1:	B-8/2, Badli Industrial Estate, Phase-I, Sameypur, Delhi – 110042, India
Tel. No.:	91-11-27854965
Factory 2:	Located at · Bhiwadi, Rajasthan, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Bimal Kumar Jain

Designation :

Director

Address :

JP-1, Maurya Enclave, Pitampura, Delhi – 110088, India

Date of Birth/Age :

09.02.1951

Date of Appointment :

08.09.2008

PAN No. :

AAEPJ6566G

DIN No. :

00058905

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	U27107DL1991PTC045966	SHP WIRE PRODUCTS PRIVATE LIMITED	Director	15-06-1995	15-06-1995	01-04-2012	Active	NO
2	U34109DL2006PTC152518	PARAS AUTOMOTIVE PRIVATE LIMITED	Director	26-08-2006	26-08-2006	-	Active	NO
3	U45200DL2007PTC159721	EXOTIC STRUCTURES PRIVATE LIMITED	Director	26-02-2007	26-02-2007	11-10-2010	Active	NO
4	U51900DL2007PLC166544	PARSVNATH FRESH TRADEX (INDIA) LIMITED	Director	02-10-2007	02-10-2007	16-10-2009	Active	NO
5	U51909DL2006PTC145932	SWISSLINE INTERTRADE PRIVATE LIMITED	Director	08-09-2008	08-09-2008	-	Active	NO
6	U51909DL2008PTC178151	RATHI IMPEX PRIVATE LIMITED	Director	31-10-2008	31-10-2008	30-06-2009	Active	NO
7	U74899DL1995PLC065362	GAJARUPA EXPORTS LIMITED	Additional director	19-11-2008	19-11-2008	05-01-2009	Active	YES
8	U45400DL2008PTC173469	SEASON BUILDWELL PRIVATE LIMITED	Director	30-09-2010	18-09-2010	-	Active	NO
9	U74900DL2008PTC182899	KONARK CRAFT PRIVATE LIMITED	Director	01-03-2011	01-03-2011	-	Active	NO
10	U70102DL2007PTC162869	GOLDSTONE LIFESTYLE PRIVATE LIMITED	Director	01-03-2011	01-03-2011	26-08-2011	Active	NO
11	U70101DL2011PLC215240	JAYNA INFRASTRUCTURE LIMITED	Director	04-03-2011	04-03-2011	-	Active	NO
12	U70200DL2011PTC217586	GLINTS GLOBAL CONSTRUCTIONS PRIVATE LIMITED	Director	15-04-2011	15-04-2011	-	Active	NO
13	U70101DL2011PTC217584	GLINTS GLOBAL DEVELOPERS PRIVATE LIMITED	Director	15-04-2011	15-04-2011	01-08-2012	Active	NO
14	U70200DL2011PTC217585	GLINTS GLOBAL PROJECTS PRIVATE LIMITED	Director	15-04-2011	15-04-2011	12-04-2013	Active	NO
15	U70101DL2011PTC217589	GLINTS GLOBAL BUILDERS PRIVATE LIMITED	Director	15-04-2011	15-04-2011	16-08-2014	Active	NO
16	U45201DL2004PTC130199	GRAPHIC BUILDCON PRIVATE LIMITED	Director	27-09-2011	27-04-2011	-	Active	NO
17	U70100MP2010PTC024520	ARROW BUILDTECH PRIVATE LIMITED	Director	30-09-2013	29-12-2011	-	Active	NO
18	U74140DL2012PTC231249	COSMIC ADVISORY SERVICES PRIVATE LIMITED	Director	09-02-2012	09-02-2012	10-07-2013	Active	NO
19	U17124DL2008PTC180114	SAAR FASHIONS PRIVATE LIMITED	Director	03-09-2012	03-09-2012	28-11-2013	Converted to LLP and dissolved	NO
20	U45400DL2007PTC166462	ZOOM BUILDWELL (MUMBAI) PRIVATE LIMITED	Director	20-09-2012	20-09-2012	-	Active	NO

Name :

Mr. Ramesh Kumar Jain

Designation :

Director

Address :

ZP – 21, Pitampura, New Delhi – 110088, India

Date of Birth/Age :

08.01.1957

Date of Appointment :

10.03.2009

PAN No. :

AAFPJ2946P

DIN No. :

02533771

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	U51909DL2006PTC145932	SWISSLINE INTERTRADE PRIVATE LIMITED	Director	10-03-2009	10-03-2009	-	Active	NO
2	U51909DL2009PTC188455	SHRI SHAYAM INTERTRADE PRIVATE LIMITED	Director	16-03-2009	16-03-2009	01-06-2010	Active	NO
3	U74900DL2009PTC194010	MODRENA IMPEXTRADE PRIVATE LIMITED	Director	07-04-2010	07-04-2010	15-09-2010	Active	NO
4	U51909DL2010PTC202390	NEW ASIA TRADING PRIVATE LIMITED	Director	07-05-2010	07-05-2010	09-11-2010	Active	NO
5	U74900DL2009PTC194011	SPECIFIC TRADELINKS PRIVATE LIMITED	Director	05-08-2010	05-08-2010	15-09-2010	Active	NO
6	U36100DL2009PTC193679	SAMRIDHI GOLD & DIAMOND JEWELLERS PRIVATE LIMITED	Director	18-08-2010	18-08-2010	07-09-2010	Active	NO
7	U70101DL2011PLC215240	Jayna Infrastructure Limited	Director	05-02-2014	05-02-2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Jain
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Shakuntla Devi	124000	2.49
Amit Gupta	45000	0.90
Bimla Devi	55000	1.11
Bimal Kumar Jain	3344333	67.20
Ramesh Kumar Jain	1408519	28.30
Total	4976852	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Trading of Steel Products.

Products :

Item Code No. (ITC Code)	Product Description
74153990	Iron and Steel

Exports :

--

Imports :

Products :

Raw Material

Countries :

Dubai

Terms :

Selling :

L/C and Credit

Purchasing :

L/C and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Customers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Wholesalers, Retailers, Manufacturer and End Users

No. of Employees :

50 (Approximately)

Bankers :

Bank Name:	Punjab National Bank
Branch:	Gurudwara Road, Karol Bagh, New Delhi - 110005, India
Name of the Person (with Designation):	Not Available
Contact Number:	91-22-28757395
Name of Account Holder:	Not Available
Account Number:	Not Available
Account Since (Date/ Year of A/c Opening):	Not Available
Average Balance Maintained (Optional):	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Available
Account Operation:	Not Available
Remarks: Number is Continuously Ringing.

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2014 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	107.672	0.000
Loans taken for fixed assets	0.000	4.285
Other loans and advances, others	0.000	113.222
SHORT TERM BORROWINGS
Rupee term loans from banks	98.834	97.326
Loans taken for vehicles (Car Loan from Punjab National Bank)	0.415	0.000
Loans taken for other fixed assets (Loan against Property)	5.906	0.000
Other loans and advances, others	0.000	5.737
Total	212.827	220.570

Auditors :
Name :	Ravi Shankar Goel and Company Chartered Accountants
Address :	28/2h, Street-3, Near Hazi Factory East, Azad Nagar, Delhi - 110051, India
Income-tax PAN of auditor or auditor's firm :	AAJFR9163L
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Mohit Metals Private Limited CIN No.: U27107RJ1997PTC013077

1

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4976852	Equity Shares	Rs.10/- each	Rs.49.769 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	49.769	49.769	49.769
(b) Reserves & Surplus	190.341	179.098	168.055
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	40.000
Total Shareholders’ Funds (1) + (2)	240.110	228.867	257.824
(3) Non-Current Liabilities
(a) long-term borrowings	107.672	117.507	79.412
(b) Deferred tax liabilities (Net)	0.000	0.064	0.329
(c) Other long term liabilities	1.800	1.800	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	109.472	119.371	79.741
(4) Current Liabilities
(a) Short term borrowings	105.155	103.063	96.874
(b) Trade payables	271.787	253.657	249.297
(c) Other current liabilities	0.384	0.393	0.646
(d) Short-term provisions	2.642	9.979	7.068
Total Current Liabilities (4)	379.968	367.092	353.885
TOTAL	729.550	715.330	691.450
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	29.163	31.716	34.290
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.134	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.552	24.108	36.755
Total Non-Current Assets	29.849	55.824	71.045
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	58.749	55.798	56.203
(c) Trade receivables	610.365	577.830	554.782
(d) Cash and cash equivalents	27.724	17.203	1.144
(e) Short-term loans and advances	2.863	8.675	8.276
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	699.701	659.506	620.405
TOTAL	729.550	715.330	691.450

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	3580.000 (Approx.)	3290.000 (Approx.)	NA
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		18.189	16.177	11.205
Less	TAX		6.946	5.134	2.146
	PROFIT/ (LOSS) AFTER TAX		11.243	11.043	9.059
	Earnings / (Loss) Per Share (Rs.)		2.26	2.22	1.82

Expected Sales (2014-2015): Rs. 4000.000 Millions

The above information has been parted by Mr. Jain (Accountant).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	2.49	2.26	1.62
Return on Investment (ROI) (PBT/Networth)		0.08	0.07	0.04
Debt Equity Ratio (Total Debt/Networth)		0.89	0.96	0.68
Current Ratio (Current Asset/Current Liability)		1.84	1.80	1.75

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	49.769	49.769	49.769
Reserves & Surplus	168.055	179.098	190.341
Net worth	217.824	228.867	240.110
long-term borrowings	79.412	117.507	107.672
Short term borrowings	96.874	103.063	105.155
Total borrowings	176.286	220.570	212.827
Debt/Equity ratio	0.809	0.964	0.886

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	Yes
10]	Designation of contact person	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10387298	09/11/2012	675,000.00	PUNJAB NATIONAL BANK	GURUDWARA ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	B62280813
2	10288099	05/05/2011	2,900,000.00	PUNJAB NATIONAL BANK	GURUDWARA ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	B13426135
3	10291442	30/04/2011	335,000,000.00	PUNJAB NATIONAL BANK	GURUDWARA ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	B14730808
4	10278677	25/03/2011	2,400,000.00	PUNJAB NATIONAL BANK	GURUDWARA ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	B10076420
5	10274691	23/02/2011	4,000,000.00	PUNJAB NATIONAL BANK	GURUDWARA ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	B08872756
6	10165263	30/06/2009	100,000,000.00	PUNJAB NATIONAL BANK	GURUDWARA ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	A65133258
7	10165264	30/06/2009	235,000,000.00	PUNJAB NATIONAL BANK	GURUDWARA ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	A65133910

CHANGE OF ADDRESS

The Registered address of the company has been shifted from 17, 1^st Floor, Meera Tower, Wazirpur Industrial Area, New Delhi – 110052, India to the present address w.e.f 01.02.2012

NATURE OF OPERATIONS

The company was incorporated in the year 2006 on 07/02/2006 and belongs to Iron and Steel Industry. It is mainly trading and manufacturing of Steel Products. It is noted that company's name has been changed to Swissline Intertrade Private Limited from Surya Vinayak Steel Private Limited w.e.f. 09.05.2013 as per fresh incorporation certificate issued by Registrar of Companies, NCT of Delhi and Haryana.

FIXED ASSETS

Tangible Assets

· Buildings

Plant and Equipment

Furniture and Fixtures

Vehicles

Motor Vehicles

Office Equipment

Computer Equipments

Other 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.61.85
UK Pound	1	Rs.96.73
Euro	1	Rs.76.53

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	DIV
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--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		41

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.