MIRA INFORM REPORT

Report Date :

21.02.2014

IDENTIFICATION DETAILS

Name :	KIRAN INVESTMENTS PTE. LTD.
Registered Office :	3, Shenton Way, 14-01, Shenton House, 068805,
Country :	Singapore
Financials (as on) :	31.03.2013
Date of Incorporation :	05.02.2008
Com. Reg. No.:	200802701-M
Legal Form :	Private Limited
Line of Business :	Subject is principally engaged in the investment holding [We tried to confirm / obtain the detailed activity but the same is not available from any sources]
No. of Employees :	03 (2014)

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 :	Slow but correct
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 – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
Singapore	A1	A1

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

SINGAPORE - ECONOMIC OVERVIEW

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub

Source : CIA

EXECUTIVE SUMMARY

REGISTRATION NO.

:

200802701-M

COMPANY NAME

:

KIRAN INVESTMENTS PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

05/02/2008

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.

BUSINESS ADDRESS

:

3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.

TEL.NO.

:

65-62218455

FAX.NO.

:

65-62224984

CONTACT PERSON

:

MEENA ( STAFF )

PRINCIPAL ACTIVITY

:

INVESTMENT HOLDING

ISSUED AND PAID UP CAPITAL

:

10,001.00 ORDINARY SHARE, OF A VALUE OF USD 10,001.00

SALES

:

N/A

NET WORTH

:

USD 3,494,166 [2013]

STAFF STRENGTH

:

3 [2014]

BANKER (S)

:

STANDARD CHARTERED BANK (HONG KONG) LIMITED

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

AVERAGE

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

HISTORY / BACKGROUND

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The Subject is principally engaged in the (as a / as an) investment holding.

Share Capital History

Date	Issue & Paid Up Capital
20/02/2014	USD 10,001.00

The major shareholder(s) of the Subject are shown as follows :

Name	Address	IC/PP/Loc No	Shareholding	(%)
ABHA INVESTMENTS PTE. LTD.	3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.	200802696G	1,900.00	19.00
CALYX INVESTMENTS PTE. LTD.	3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.	200802697W	1,900.00	19.00
INDOGENIOUS HOLDINGS PTE. LTD.	3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.	200802699Z	1,900.00	19.00
BIG BANYAN INVESTMENTS PTE. LTD.	3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.	200804356E	1,900.00	19.00
BLUE BUCKS INVESTMENTS PTE. LTD.	3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.	200804357R	1,900.00	19.00
ADITYA BIRLA FINANCIAL SERVICES PTE. LTD.	3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.	200722590Z	501.00	5.01
			---------------	------
			10,001.00	100.00
			============	=====

+ Also Director

The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :

Local No	Country	Company	(%)	As At
200723062G	SINGAPORE	SKI INVESTMENTS PTE. LTD.	100.00	31/03/2013

DIRECTORS

DIRECTOR 1

Name Of Subject	:	SUSHIL AGARWAL
Address	:	301, OCEAN VIEW, UNION PARK, KHAR (W), MUMBAI, 400052, INDIA.
IC / PP No	:	F9993054
Nationality	:	INDIAN
Date of Appointment	:	05/02/2008

DIRECTOR 2

Name Of Subject	:	MR. MADUGULA VENKATA NAGA SARITHA
Address	:	123, RIVERVALE DRIVE, 16-123, 540123, SINGAPORE.
IC / PP No	:	S7863329H
Nationality	:	SINGAPOREAN
Date of Appointment	:	20/05/2011

MANAGEMENT

1)	Name of Subject	:	MEENA
	Position	:	STAFF

AUDITOR

Auditor	:	LAU CHIN HUAT & CO
Auditor' Address	:	N/A

COMPANY SECRETARIES

1)	Company Secretary	:	CHEONG SENG CHOW
	IC / PP No	:	S1350970J
	Address	:	43, LORONG 5, TOA PAYOH, 11-129, 310043, SINGAPORE.

BANKING

Banking relations are maintained principally with :

1)

Name

:

STANDARD CHARTERED BANK (HONG KONG) LIMITED

ENCUMBRANCE (S)

Charge No	Creation Date	Charge Description	Chargee Name	Total Charge	Status
C201313047	24/09/2013	N/A	STANDARD CHARTERED BANK (HONG KONG) LIMITED	-	Unsatisfied

LEGAL CHECK AGAINST SUBJECT

* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

PAYMENT RECORD

SOURCES OF RAW MATERIALS:
Local	:	N/A
Overseas	:	N/A

The Subject refused to disclose its suppliers.

The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT
Prompt 0-30 Days	[	]	Good 31-60 Days	[	]	Average 61-90 Days	[	X	]
Fair 91-120 Days	[	]	Poor >120 Days	[	]

CLIENTELE

Local	:	N/A
Overseas	:	N/A

The Subject refused to disclose its clientele.

OPERATIONS

Services

:

INVESTMENT HOLDING

Total Number of Employees:
YEAR	2014
GROUP	N/A
COMPANY	3

Branch

:

NO

Other Information:

The Subject is principally engaged in the (as a / as an) investment holding.

The Subject refused to disclose its operation.

CURRENT INVESTIGATION

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client	:	N/A
Current Telephone Number	:	65-62218455
Match	:	N/A
Address Provided by Client	:	3, SHENTON WAY 14-01, SHENTON HOUSE 068805 SINGAPORE
Current Address	:	3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.
Match	:	YES

Other Investigations

we contacted one of the staff from the Subject and she provided some information.

The Subject refused to disclose its number of employees.

The Subject belongs to ADITYA BIRLA.

FINANCIAL ANALYSIS

Auditor Qualified Statement: THE COMPANY IS A HOLDING COMPANY WITH A SUBSIDIARY AND IS THEREFORE REQUIRED TO PRESENT CONSOLIDATED FINANCIAL STATEMENTS. HOWEVER, THE COMPANY HAS NOT PREPARED AND PRESENTED THE CONSOLIDATED FINANCIAL STATEMENTS REQUIRED BY FRS 27, CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS. ADEQUATE RELIABLE INFORMATION AND ACCOUNTING OF THE SUBSIDIARY WERE ALSO NOT AVAILABLE FROM MANAGEMENT. AS THE CONSOLIDATED FINANCIAL STATEMENTS HAVE NOT BEEN PREPARED AND PRESENTED IN THE ACCOMPANYING FINANCIAL STATEMENTS, WE HAVE NOT BEEN ABLE TO CARRY OUT ANY WORK IN THIS REGARD AND THERE WERE ALSO NO PRACTICABLE PROCEDURES AVAILABLE TO US IN THE ABSENCE OF ACCOUNTING OF THE SUBSIDIARY TO ENABLE US TO QUALIFY THE OMITTED INFORMATION. THE AUDITED REPORT ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2011 ALSO INCLUDED A DISCLAIMER OF OPINION, FOR MATTERS INCLUDING THOSE DISCUSSED IN THE PRECEDING PARAGRAPHS. BECAUSE OF THE SIGNIFICANCE OF THE MATTERS DESCRIBED IN THE BASIS FOR DISCLAIMER OF OPINION PARAGRAPH, WE HAVE NOT BEEN ABLE TO OBTAIN SUFFICIENT APPROPRIATE AUDIT EVIDENCE TO PROVIDE A BASIS FOR AN AUDIT OPINION. ACCORDINGLY, WE DO NOT EXPRESS AN OPINION ON THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2013.

The Subject's turnover was nil during the year indicate that it was inactive. As a result, we are unable to comment on its financial performance.

Overall financial condition of the Subject : N/A

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

Major Economic Indicators :	2008	2009	2010	2011	2012
Population (Million)	4.84	4.98	5.08	5.18	5.31
Gross Domestic Products ( % )	1.5	(0.8)	14.5	4.9	1.3
Consumer Price Index	6.6	0.6	2.8	5.2	4.6
Total Imports (Million)	450,892.6	356,299.3	423,221.8	459,655.1	474,554.0
Total Exports (Million)	476,762.2	391,118.1	478,840.7	514,741.2	510,329.0
Unemployment Rate (%)	2.2	3.2	2.2	2.1	2.0
Tourist Arrival (Million)	10.12	9.68	11.64	13.17	14.37
Hotel Occupancy Rate (%)	81.0	75.8	85.6	86.5	86.4
Cellular Phone Subscriber (Million)	1.31	1.37	1.43	1.50	1.52
Registration of New Companies (No.)	25,327	26,414	29,798	32,317	31,892
Registration of New Companies (%)	(2.2)	4.3	12.8	8.5	(1.3)
Liquidation of Companies (No.)	10,493	22,393	15,126	19,005	17,218
Liquidation of Companies (%)	13.7	113.4	(32.5)	25.6	9.4
Registration of New Businesses (No.)	24,850	26,876	23,978	23,494	24,788
Registration of New Businesses (%)	0.36	8.15	(10.78)	2.02	5.51
Liquidation of Businesses (No.)	21,150	23,552	24,211	23,005	22,489
Liquidation of Businesses (%)	(0.8)	11.4	2.8	(5)	(2.2)
Bankruptcy Orders (No.)	2,326	2,058	1,537	1,527	1,748
Bankruptcy Orders (%)	(15.9)	(11.5)	(25.3)	(0.7)	14.5
Bankruptcy Discharges (No.)	1,500	3,056	2,252	1,391	1,881
Bankruptcy Discharges (%)	(7.7)	103.7	(26.3)	(38.2)	35.2
INDUSTRIES ( % of Growth ) :
Agriculture
Production of Principal Crops	(0.32)	3.25	(0.48)	4.25	3.64
Fish Supply & Wholesale	(6.31)	(1.93)	(10.5)	12.10	(0.5)
Manufacturing *	74.6	71.5	92.8	100.0	100.3
Food, Beverages & Tobacco	94.8	90.4	96.4	100.0	103.5
Textiles	180.1	145.9	122.1	100.0	104.0
Wearing Apparel	334.6	211.0	123.3	100.0	92.1
Leather Products & Footwear	128.2	79.5	81.8	100.0	98.6
Wood & Wood Products	132.0	101.4	104.0	100.0	95.5
Paper & Paper Products	101.0	95.4	106.1	100.0	97.4
Printing & Media	118.2	100.9	103.5	100.0	93.0
Crude Oil Refineries	113.1	96.4	95.6	100.0	99.4
Chemical & Chemical Products	84.5	80.3	97.6	100.0	100.5
Pharmaceutical Products	43.7	49.1	75.3	100.0	109.7
Rubber & Plastic Products	120.1	101.2	112.3	100.0	96.5
Non-metallic Mineral	96.5	91.9	92.5	100.0	98.2
Basic Metals	109.8	92.6	102.2	100.0	90.6
Fabricated Metal Products	101.3	90.8	103.6	100.0	104.3
Machinery & Equipment	65.0	57.3	78.5	100.0	112.9
Electrical Machinery	81.7	86.8	124.1	100.0	99.3
Electronic Components	93.1	85.2	113.6	100.0	90.6
Transport Equipment	102.0	96.0	94.0	100.0	106.3
Construction	45.90	(36.9)	14.20	20.50	28.70
Real Estate	(11.2)	1.4	21.3	25.4	31.9
Services
Electricity, Gas & Water	(1.3)	1.70	4.00	7.00	6.30
Transport, Storage & Communication	11.60	3.90	12.80	7.40	5.30
Finance & Insurance	(5.9)	(16.4)	(0.4)	8.90	0.50
Government Services	17.40	4.50	9.70	6.90	6.00
Education Services	0.50	0.10	(0.9)	(1.4)	0.30
* Based on Index of Industrial Production (2011 = 100)

INDUSTRY ANALYSIS

INDUSTRY :	ECONOMY
According to Ministry of Trade and Industry (MTI), the Singapore economy is expected to grow by 1.0 to 3.0% in 2013 as growth in the global economy is likely to remain subdued despite macroeconomic conditions stablising in recent months of 2013.
However, the global economic outlook is still clouded with uncertainties. Notably, concerns remain over the extent of the fiscal cutback with the budget sequester in the US and potential flareup of the debt crisis in the Eurozone. Should any of these risks materialise, Singapore's economic growth could come in lower than expected.
Although resilient domestic demand in emerging Asia will provide some support to global demand, it will not fully mitigate the effects of an economic slowdown in the advanced economies. Consequently, Singapore's externally-oriented sectors such as electronics and wholesale trade will continue to perform poorly, while the financial services sector will be affected by heightened uncertainties in the external environment. Nevertheless, there will be some modest support to growth from the biomedical manufacturing cluster and tourism-related sectors. The former will likely see increased production of active pharmaceutical ingredients and biologics while the latter will benefit from rising visitor arrivals from the region.
For the whole of 2012, Singapore's GDP growth slowed to 1.3%, from 5.2% in 2011, mainly due to weakness in the externally-oriented sectors. Manufacturing sector growth slowed sharply from 7.8% in the year 2011 to 0.1%. The hudge decline was largely due to a rebound in the output of the biomedical manufacturing and transport engineering clusters, which together helped to mitigate part of the fall in output in the electronics cluster. By contrast, the construction sector growth accelerated from 6.3% to 8.2% in 2012, due to the expansion in both public and private building activities.
Growth in the services producing industries also moderated to 1.2% in 2012, compared to 4.6% in 2011. This was mainly due to the slowdown in wholesale and retail trade, accommodation and food services as well as other services industries. In particular, the wholesale and retail trade sector contracted by 0.7%, compared to the 1.6% growth in year 2011. The accommodation and food services as well as other services industries posted lower gains of 2.8% and 0.1% respectively, compared to 8.2% and 6.3% in 2011.
For the whole of 2012, all sectors, except the wholesale and retail trade, contributed to growth. Business services was the largest contributor with 0.4 percentage-points, followed by construction with 0.3 percentage-points and transportation and storage at 0.2 percentagepoints. Besides, growth in total demand moderated to 2.4%, compared to 4.2% in 2011. Domestic demand was the key contributor to total demand growth, accounting for 2.2 percentage-points, or over 90 per cent, of the increase.
In 2012, total domestic demand rose by 9.7%, following the 6.5% increase in 2011. The growth in total domestic demand was broad-based across consumption, gross fixed capital formation (GFCF) and changes in inventories. The total consumption expenditure in 2012 grew slightly by 0.9%, easing from the 3.7% growth in 2011. Public consumption expenditure fell by 3.6%, reversing the 0.5% growth in 2011. Private consumption expenditure registered a 2.2% gain, moderating from the 4.6% increase in the preceding year.
Overall, the Singapore economy is expected to grow by 1.0 to 3.0% in 2013.
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH

CREDIT RISK EVALUATION & RECOMMENDATION

Incorporated in 2008, the Subject is a Private Limited company, focusing on investment holding. Having been in business for 6 years, the Subject has established a remarkable clientele base for itself which has contributed to its business growth. Having strong support from its shareholders has enabled the Subject to remain competitive despite the challenging business environment.

Being a small company, the Subject's business operation is supported by 3 employees. Overall, we regard that the Subject's management capability is average.

The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. However, the Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at USD 3,494,166, the Subject should be able to maintain its business in the near terms.

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts.

The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market.

In view of the above, we recommend credit be granted to the Subject with close monitoring.

PROFIT AND LOSS ACCOUNT

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

KIRAN INVESTMENTS PTE. LTD.

Financial Year End	2013-03-31	2011-12-31
Months	15	12
Consolidated Account	Company	Company
Audited Account	YES	YES
Unqualified Auditor's Report (Clean Opinion)	NO	NO
Financial Type	FULL	FULL
Currency	USD	USD
TURNOVER	-	1,322,940
Other Income	340	-
	----------------	----------------
Total Turnover	340	1,322,940
	----------------	----------------
PROFIT/(LOSS) FROM OPERATIONS	(5,232)	1,318,250
	----------------	----------------
PROFIT/(LOSS) BEFORE TAXATION	(5,232)	1,318,250
	----------------	----------------
PROFIT/(LOSS) AFTER TAXATION	(5,232)	1,318,250
	----------------	----------------
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
As previously reported	3,489,397	2,171,147
	----------------	----------------
As restated	3,489,397	2,171,147
	----------------	----------------
PROFIT AVAILABLE FOR APPROPRIATIONS	3,484,165	3,489,397
	----------------	----------------
RETAINED PROFIT/(LOSS) CARRIED FORWARD	3,484,165	3,489,397
	=============	=============

BALANCE SHEET

KIRAN INVESTMENTS PTE. LTD.

LONG TERM INVESTMENTS/OTHER ASSETS
Subsidiary companies	500,001	500,001
Investments	1,209,159	1,196,659
	----------------	----------------
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS	1,709,160	1,696,660
	----------------	----------------
TOTAL LONG TERM ASSETS	1,709,160	1,696,660
CURRENT ASSETS
Amount due from subsidiary companies	6,530,000	6,530,000
Cash & bank balances	30,088	16,816
	----------------	----------------
TOTAL CURRENT ASSETS	6,560,088	6,546,816
	----------------	----------------
TOTAL ASSET	8,269,248	8,243,476
	=============	=============
CURRENT LIABILITIES
Other creditors & accruals	5,082	4,078
Amounts owing to related companies	4,770,000	4,740,000
	----------------	----------------
TOTAL CURRENT LIABILITIES	4,775,082	4,744,078
	----------------	----------------
NET CURRENT ASSETS/(LIABILITIES)	1,785,006	1,802,738
	----------------	----------------
TOTAL NET ASSETS	3,494,166	3,499,398
	=============	=============
SHARE CAPITAL
Ordinary share capital	10,001	10,001
	----------------	----------------
TOTAL SHARE CAPITAL	10,001	10,001
RESERVES
Retained profit/(loss) carried forward	3,484,165	3,489,397
	----------------	----------------
TOTAL RESERVES	3,484,165	3,489,397
	----------------	----------------
SHAREHOLDERS' FUNDS/EQUITY	3,494,166	3,499,398
	----------------	----------------
	3,494,166	3,499,398
	=============	=============

FINANCIAL RATIO

KIRAN INVESTMENTS PTE. LTD.

TYPES OF FUNDS
Cash	30,088	16,816
Net Liquid Funds	30,088	16,816
Net Liquid Assets	1,785,006	1,802,738
Net Current Assets/(Liabilities)	1,785,006	1,802,738
Net Tangible Assets	3,494,166	3,499,398
Net Monetary Assets	1,785,006	1,802,738
BALANCE SHEET ITEMS
Total Borrowings	0	0
Total Liabilities	4,775,082	4,744,078
Total Assets	8,269,248	8,243,476
Net Assets	3,494,166	3,499,398
Net Assets Backing	3,494,166	3,499,398
Shareholders' Funds	3,494,166	3,499,398
Total Share Capital	10,001	10,001
Total Reserves	3,484,165	3,489,397
LIQUIDITY (Times)
Cash Ratio	0.01	0.00
Liquid Ratio	1.37	1.38
Current Ratio	1.37	1.38
WORKING CAPITAL CONTROL (Days)
Stock Ratio	0	0
Debtors Ratio	0	0
Creditors Ratio	0	0
SOLVENCY RATIOS (Times)
Gearing Ratio	0.00	0.00
Liabilities Ratio	1.37	1.36
Times Interest Earned Ratio	0.00	0.00
Assets Backing Ratio	349.38	349.90
PERFORMANCE RATIO (%)
Operating Profit Margin	0.00	99.65
Net Profit Margin	0.00	99.65
Return On Net Assets	(0.15)	37.67
Return On Capital Employed	(0.15)	37.67
Return On Shareholders' Funds/Equity	(0.15)	37.67
Dividend Pay Out Ratio (Times)	0.00	0.00
NOTES TO ACCOUNTS
Contingent Liabilities	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.28
UK Pound	1	Rs.103.84
Euro	1	Rs.85.70

INFORMATION DETAILS

Report Prepared by :

NIS

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.