MIRA INFORM REPORT

Report Date :

21.02.2014

IDENTIFICATION DETAILS

Name :	PRATEEK BUILDTECH (INDIA) PRIVATE LIMITED (w.e.f. 13.02.2006)
Formerly Known As :	PRATEEK BUILTECK (INDIA) PRIVATE LIMITED
Registered Office :	G-50 Lower Ground Floor, Lajpat Nagar-III, Delhi – 110024
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	02.09.2005
Com. Reg. No.:	55-140318
Capital Investment / Paid-up Capital :	Rs.31.187 Millions
CIN No.: [Company Identification No.]	U45201DL2005PTC140318
Legal Form :	Private Limited Liability Company
Line of Business :	Constructing Residential Complex
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 1870000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Overall financial position of the company is sound. However, trade relations are reported to be fair. Business is active. Payments are reported to be usually 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 – 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

The services sector, the largest contributor to India’s GDP, contracted for the sixth consecutive month in December, as orders dipped. However, hiring has risen.  Direct tax collections rose 12.3 % during the April – December period of the current financial year.  The government has decided to retain 100 per cent foreign direct investment in both greenfield (new) and brown field (existing) pharmaceutical companies, despite concerns over genetic drugs going out of production, if multi-national companies take over domestic ones. In M&A deals, a non compete clause would not be allowed, except in special circumstances. The Department of Industrial Policy and Promotion plans to release the next edition of its consolidated foreign direct investment policy document on March 31, incorporating changes made in the past year. DIPP compiles all policies related to India’s FDI regime into a single document to make it easy for investors to understand. 185 million estimated number of mobile internet users in India by June 2014, according to a report by the Internet & Mobile Association of India and IMRB International.  India had 110 million mobile internet users with 25 million in rural areas. $3.77 tn estimated global IT spending in 2014, according to research firm Gartner Inc. The growth forecast for this year is cut to 3.1 %from the earlier estimate of 3.5 %. The spending growth forecast for telecom services – a segment that accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is the main reason for this overall IT cut. A Reserve Bank of India committee has recommended setting up a special category of lenders who would cater to small businesses and households, to expand the number of customers with access to banking services. These banks would focus onproviding payment services and deposit products.  Indian banks want the free use of automated teller machines to be capped at five transactions in a month including that of the bank in which the account is active. This follows state government order to banks to install security guards at ATM booths after a woman banker was assaulted in Bangalore. The government is likely to present a vote on Account in mid-February. The annual Economic Survey will be tabled later in Parliament along with the full Budget. A full Budget for 2014/15 is likely to be present in July by the new government formed after the General Election. The government will soon launch an internet spy system, called Netra, to detect malafide messages. Security agency will deploy the system to capture dubious voice traffic on applications such as Skype and Google Talk, as well as tweeters.

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 DENIED

Management Non-Cooperative (Tel No.: 91-120-2595555).

LOCATIONS

Registered Office :	G-50 Lower Ground Floor, Lajpat Nagar-III, Delhi – 110024, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	ncguptaasso@yahoo.co.in
Corporate Office :	A-42, Sector 67, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-2595555 (30 Lines)
Fax No.:	91-120-2595500 (5 Lines)

DIRECTORS

As on 30.09.2013

Name :

Mr. Prashant Kumar Tiwari

Designation :

Managing Director

Address :

KK-12, Kavi Nagar, Ghaziabad – 201002, Uttar Pradesh, India

Date of Birth/Age :

01.07.1964

Date of Appointment :

30.09.2008

PAN No.:

AAZPT8129L

DIN No.:

00024438

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	U45201DL2005PTC140318	PRATEEK BUILDTECH (INDIA) PRIVATE LIMITED	Managing director	30/09/2008	23/03/2008	-	Active	NO
2	U70101DL2009PTC197028	PRATEEK REALTORS INDIA PRIVATE LIMITED	Director	16/12/2009	16/12/2009	-	Active	NO
3	U70200DL2010PTC199411	PRATEEK INFRATECH INDIA PRIVATE LIMITED	Director	22/02/2010	22/02/2010	-	Active	NO
4	U18109DL2006PTC156337	GLAMOUR CREATIONS PRIVATE LIMITED	Director	10/03/2010	10/03/2010	-	Active	NO
5	U45400DL2009PTC189619	MagiTech Infradevelopers Private Limited	Director	29/03/2011	29/03/2011	-	Active	NO
6	U70101DL2011PTC212289	PRATEEK INFRAPROJECTS INDIA PRIVATE LIMITED	Director	05/09/2012	06/08/2012	-	Active	NO
7	U45400DL2011PTC212624	HYPTIS INFRASTRUCTURE PRIVATE LIMITED	Additional director	18/03/2013	18/03/2013	-	Active	NO
8	U70109DL2013PTC254314	INNOVATIVE BUILDHOME PRIVATE LIMITED	Director	26/06/2013	26/06/2013	-	Active	NO
9	U70109DL2013PTC254936	INNOVATIVE HOMEBUILD PRIVATE LIMITED	Director	05/07/2013	05/07/2013	-	Active	NO
10	U70102DL2013PTC255012	INNOVATIVE INFRAHOMES PRIVATE LIMITED	Director	06/07/2013	06/07/2013	-	Active	NO
11	U45209DL2012PTC242395	JDR BUILDERS AND DEVELOPERS PRIVATE LIMITED	Additional director	12/09/2013	12/09/2013	-	Active	NO
12	U74900DL2013PTC259719	PRATEEK ENTERTAINMENTS PRIVATE LIMITED	Director	29/10/2013	29/10/2013	-	Active	NO

Name :

Mr. Prateek Tiwari

Designation :

Director

Address :

KK-12, Kavi Nagar, Ghaziabad – 201002, Uttar Pradesh, India

Date of Birth/Age :

04.09.1990

Date of Appointment :

01.06.2010

PAN No.:

AJBPT0529R

DIN No.:

02847113

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	U45201DL2005PTC140318	PRATEEK BUILDTECH (INDIA) PRIVATE LIMITED	Director	01/06/2010	01/06/2010	-	Active	NO
2	U45400DL2011PTC212624	HYPTIS INFRASTRUCTURE PRIVATE LIMITED	Additional director	18/03/2013	18/03/2013	-	Active	NO
3	U70109DL2013PTC254314	INNOVATIVE BUILDHOME PRIVATE LIMITED	Director	26/06/2013	26/06/2013	-	Active	NO
4	U70109DL2013PTC254936	INNOVATIVE HOMEBUILD PRIVATE LIMITED	Director	05/07/2013	05/07/2013	-	Active	NO
5	U70102DL2013PTC255012	INNOVATIVE INFRAHOMES PRIVATE LIMITED	Director	06/07/2013	06/07/2013	-	Active	NO
6	U45400DL2009PTC189619	MagiTech Infradevelopers Private Limited	Director	19/08/2013	19/08/2013	-	Active	NO
7	U18109DL2006PTC156337	GLAMOUR CREATIONS PRIVATE LIMITED	Director	19/08/2013	19/08/2013	-	Active	NO
8	U70200DL2010PTC199411	PRATEEK INFRATECH INDIA PRIVATE LIMITED	Director	19/08/2013	19/08/2013	-	Active	NO
9	U70101DL2009PTC197028	PRATEEK REALTORS INDIA PRIVATE LIMITED	Director	19/08/2013	19/08/2013	-	Active	NO
10	U45209DL2012PTC242395	JDR BUILDERS AND DEVELOPERS PRIVATE LIMITED	Additional director	12/09/2013	12/09/2013	-	Active	NO
11	U70101DL2011PTC212289	PRATEEK INFRAPROJECTS INDIA PRIVATE LIMITED	Director	01/10/2013	01/10/2013	-	Active	NO
12	U74900DL2013PTC259719	PRATEEK ENTERTAINMENTS PRIVATE LIMITED	Director	29/10/2013	29/10/2013	-	Active	NO

Name :

Mr. Kalpana Tiwari

Designation :

Director

Address :

KK-12, Kavi Nagar, Ghaziabad – 201002, Uttar Pradesh, India

Date of Birth/Age :

04.09.1990

Date of Appointment :

02.09.2005

PAN No.:

AAGPT1411J

DIN No.:

00165309

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	U45201DL2005PTC140318	PRATEEK BUILDTECH (INDIA) PRIVATE LIMITED	Director	02/09/2005	02/09/2005	-	Active	NO
2	U70101DL2009PTC197028	PRATEEK REALTORS INDIA PRIVATE LIMITED	Director	16/12/2009	16/12/2009	-	Active	NO
3	U70200DL2010PTC199411	PRATEEK INFRATECH INDIA PRIVATE LIMITED	Director	22/02/2010	22/02/2010	-	Active	NO
4	U18109DL2006PTC156337	GLAMOUR CREATIONS PRIVATE LIMITED	Director	10/03/2010	10/03/2010	-	Active	NO
5	U45400DL2009PTC189619	MagiTech Infradevelopers Private Limited	Director	29/03/2011	29/03/2011	-	Active	NO
6	U70101DL2011PTC212289	PRATEEK INFRAPROJECTS INDIA PRIVATE LIMITED	Director	05/09/2012	06/08/2012	-	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares	% of Holding
Kalpana Tiwari	1263690	40.52
Prashant Kumar Tiwari	244260	7.83
Prateek Tiwari	378000	12.12
Prateek Infratech India Private Limited, India	1232730	39.53
Total	3118680	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Bodies corporate	39.53
Directors or relatives of Directors	60.47
Total	100.00

BUSINESS DETAILS

Line of Business :

Constructing Residential Complex

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

• Bank of India, Main Branch, 16, Parliament Street, New Delhi - 110001, India
• Bank of India, Nehru Place Branch, New Delhi - 110019, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	650.000	500.000
Rupee term loans from others	426.806	497.940
Total	1076.806	997.940

Banking Relations :	--
Financial Institutions :	Indiabulls Housing Finance Limited, F-60 Malhotra Building, 2nd Floor, Connaught Place, New Delhi - 110001,India
Auditors :
Name :	Pravesh Jain and Company Chartered Accountants
Address :	3 9 Priya Darshani Lane, Patta Paloura, Bohri Chungi, Jammu Tawi – 180002, Jammu Kashmir, India
PAN No.:	AAHFP0170F
Subsidiaries Company :	Prateek Realtors India Private Limited CIN No.: U70101DL2009PTC197028 Glamour Creations Private Limited CIN No.: U18109DL2006PTC156337 Magitech Infradevelopers Private Limited CIN No.: U45400DL2009PTC189619

CAPITAL STRUCTURE

As on 30.09.2013

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
3118680	Equity Shares	Rs.10/- each	Rs.31.187 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	31.187	31.187	3.465
(b) Reserves & Surplus	362.935	312.870	312.685
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	74.000	100.000	0.000
Total Shareholders’ Funds (1) + (2)	468.122	444.057	316.150
(3) Non-Current Liabilities
(a) long-term borrowings	1,076.806	997.940	569.074
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	16.161	15.106	11.413
Total Non-current Liabilities (3)	1,092.967	1,013.046	580.487
(4) Current Liabilities
(a) Short term borrowings	259.268	301.420	5.411
(b) Trade payables	301.019	202.443	67.525
(c) Other current liabilities	938.274	513.332	687.887
(d) Short-term provisions	27.394	14.784	1.019
Total Current Liabilities (4)	1,525.955	1,031.979	761.842
TOTAL	3,087.044	2,489.082	1,658.479
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	69.714	33.634	34.558
(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	8.255	8.255	8.255
(c) Deferred tax assets (net)	0.258	0.238	0.146
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	78.227	42.127	42.959
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1,860.721	1,550.219	1,248.823
(c) Trade receivables	67.272	85.876	74.080
(d) Cash and cash equivalents	430.978	534.791	47.234
(e) Short-term loans and advances	606.511	237.367	245.383
(f) Other current assets	43.335	38.702	0.000
Total Current Assets	3,008.817	2,446.955	1,615.520
TOTAL	3,087.044	2,489.082	1,658.479

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL		1029.997	894.653	649.584
Less	EXPENSES
		Cost of Materials Consumed
		Employee Benefits Expenses
		Other Expenses
		TOTAL		955.608	852.906	631.451
	PROFIT/(LOSS) BEFORE TAX			74.389	41.747	18.133
Less	TAX			24.324	13.694	10.250
	PROFIT/(LOSS) AFTER TAX			50.065	28.053	7.883
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			31.786	31.900	24.653
Less	APPROPRIATIONS
			Tax on regular Assessment paid	0.000	0.445	0.636
			Bonus shares issued during the year	0.000	27.722	0.000
	BALANCE CARRIED TO THE B/S			81.851	31.786	31.900
	Earnings Per Share (Rs.)			16.05	8.99	22.75

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	4.86	3.14	1.21
Return on Total Assets (PBT/Total Assets}	(%)	2.42	1.68	1.10
Return on Investment (ROI) (PBT/Networth)		0.16	0.09	0.06
Debt Equity Ratio (Total Debt /Networth)		2.85	2.93	1.82
Current Ratio (Current Asset/Current Liability)		1.97	2.37	2.12

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	3.465	31.187	31.187
Reserves & Surplus	312.685	312.870	362.935
Net worth	316.150	344.057	394.122
long-term borrowings	569.074	997.940	1076.806
Short term borrowings	5.411	301.420	259.268
Total borrowings	574.485	1299.360	1336.074
Debt/Equity ratio	1.817	3.777	3.390

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
Total Income	649.584	894.653	1029.997
		37.727	15.128

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	649.584	894.653	1029.997
Profit	7.883	28.053	50.065
	1.21%	3.14%	4.86%

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	No
10]	Designation of contact person	No
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	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	No

Note: The registered office of the company has been shifted from D-132, Ground Floor, Defence Colony, Delhi – 110024, India to the present address w.e.f. 15.11.2013

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Short Term Borrowings
Intercorporate borrowings	259.268	301.420
Total	259.268	301.420

BACKGROUND

The Comoany was incorporated on 2nd Sep.2005.The main object is to carry on the business of Constructing Residential Complex; our ongoing projects are "Prateek Fedora" at in Sector-61, Noida, "Prateek Stylome" at in Sector-45, Noida.

PERFORMANCE

During the year, the company has been able to increase its revenue and has received considerable increase in the net profit of Rs.50.065 Millions against net profit of Rs.28.053 Millions during the previous year. This has also resulted in increase in the Earning per Share to Rs.16.05/- for the period from Rs.8.99/- in previous year.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10435665	14/06/2013	33,500,000.00	Indiabulls Housing Finance Limited	F-60 Malhotra Building 2nd Floor Connaught Place, New Delhi, Delhi - 110001, India	B79116927
2	10401902	14/12/2012	800,000,000.00	IDBI Trusteeship Services Limited	Asian Bldg., Ground Floor, 17, R. Kamani Marg, Ballard State, Mumbai, Maharashtra - 400001, India	B67655621
3	10338956	13/02/2012	900,000,000.00	Bank of Baroda	Main Branch, 16, Parliament Street, New Delhi, Delhi - 110001, India	B33584889
4	10013157	05/07/2006	5,000,000.00	Bank of Baroda	Nehru Place Branch, New Delhi, Delhi - 110019, India	A02110971
5	10013657	05/07/2006	5,000,000.00	Bank of Baroda	Nehru Place Branch, New Delhi, Delhi - 110019, India	A02520989

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Computer

· Vehicles

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 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.62.28
UK Pound	1	Rs.103.84
Euro	1	Rs.85.70

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		46

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.