Summary Information

		Country	India
Company Name	ANR INTERNATIONAL PRIVATE LIMITED	Principal Name 1	Mr. Anoop Kumar Chhawchharia
Status	Moderate	Principal Name 2	Mr. Utsav Chhawchharia
		Registration #	11-033614
Street Address	409, 4^thFloor, Laxmi Deep Building, District Center, Laxmi Nagar, Delhi – 110 092
Established Date	24.10.1998	SIC Code	--
Telephone#	91-11-43010350/51/52/53/54	Business Style 1	Distributor
Fax #	91-11-43011634	Business Style 2	Trader
Homepage	www.anrinternational.in	Product Name 1	Petrochemicals
# of employees	Not Available	Product Name 2	Polymers
Paid up capital	Rs. 5,342,000 /-	Product Name 3	--
Shareholders	Directors or relatives of Directors (94.00 %) Other top fifty shareholders (6.00 %)	Banking	Kotak Mahindra Bank Limited
Public Limited Corp.	No	Business Period	26 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B (27)
Related Company
Relation	Country	Company Name	CEO
Associates/Subsidiaries	India	Vibhor Management Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	125,079,000	Current Liabilities	95,111,000
Inventories	60,604,000	Long-term Liabilities	85,831,000
Fixed Assets	434,000	Other Liabilities	245,000
Deferred Assets	749,000	Total Liabilities	147,560,000
Invest& other Assets	1,741,000	Retained Earnings	2,088,000
		Net Worth	7,430,000
Total Assets	188,617,000	Total Liab. & Equity	188,617,000
Total Assets (Previous Year)	121,365,000
P/L Statement as of
Sales	493.868,000	Net Profit	625,000
Sales(Previous yr)	402,323,000	Net Profit(Prev.yr)	(2,199,000)

MIRA INFORM REPORT

Report Date :

03.06.2014

IDENTIFICATION DETAILS

Name :	ANR INTERNATIONAL PRIVATE LIMITED (w.e.f 18.01.2011)
Formerly Known As :	SINGHAL AGENCIES PRIVATE LIMITED
Registered Office :	R. No. 409, 4^thFloor, Laxmi Deep Building, District Center, Laxmi Nagar, Delhi – 110 092
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	24.10.1988
Com. Reg. No.:	55-033614
Capital Investment / Paid-up Capital :	Rs.5.342 Millions
CIN No.: [Company Identification No.]	U74899DL1988PTC033614
TAN No.: [Tax Deduction & Collection Account No.]	DELS11523B
PAN No.: [Permanent Account No.]	AAACS3221N
Legal Form :	Private Limited Liability Company
Line of Business :	Distributor Trader and Importer of Petrochemicals and Polymers.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 30000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. Reserves of the company seems to be low during 2013. However, trade relation are reported to be fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealing with some cautions.

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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Yogesh
Designation :	Accountant
Contact No.:	91-11-43010350
Date :	19.05.2014

LOCATIONS

Registered Office/ Factory :	409, 4^thFloor, Laxmi Deep Building, District Center, Laxmi Nagar, Delhi – 110 092, India
Tel. No.:	91-11-43010350/51/52/53/54
Fax No.:	91-11-43011634
E-Mail :	info@anrinternational.in annop@anrinternational.in utsav@anrinternational.in
Website :	http://www.anrinternational.in
Location :	Owned

DIRECTORS

As on: 30.09.2013

Name :

Mr. Anoop Kumar Chhawchharia

Designation :

Director

Address :

B – 279, Yojna Vihar, Delhi – 110 092, India

Date of Birth/Age :

02.10.1956

Date of Appointment :

11.04.2000

DIN No.:

00173694

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	U74899DL1990PTC039298	RISHU AGENCIES PVT. LTD.	Director	01/04/1992	01/04/1992	-	Active	NO
2	U74899DL1991PTC043500	GIRIRAJ MITALS PRIVATE LIMITED	Director	01/09/1996	01/09/1996	-	Active	NO
3	U74899DL1988PTC033614	ANR INTERNATIONAL PRIVATE LIMITED	Director	11/04/2000	11/04/2000	-	Active	NO
4	U51109DL1994PTC257619	AKB TREXIM PVT. LTD.	Director	14/03/2003	14/03/2003	-	Active	NO
5	U51109DL1994PTC257474	VIBHOR MANAGEMENT PVT LTD	Director	06/01/2005	06/01/2005	-	Active	NO
6	U51909DL1994PTC257621	LUMINANT DISTRIBUTERS PVT LTD	Director	19/01/2006	19/01/2006	-	Active	NO
7	U45201DL1998PTC258104	SAFEX COMPLEX PRIVATE LIMITED	Director	09/03/2010	09/03/2010	-	Active	NO
8	U45400WB2013PTC195683	Shivshankar Nirman Private Limited	Additional director	27/12/2013	27/12/2013	-	Active	NO

Name :

Mrs. Rita Chhawchharia

Designation :

Director

Address :

B – 279, Yojna Vihar, Delhi – 110 092, India

Date of Birth/Age :

01.01.1962

Date of Appointment :

08.08.2011

DIN No.:

00043644

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	U24134DL1998PTC094242	RITIKA ENTERPRISES PRIVATE LIMITED	Director	03/06/1998	03/06/1998	-	Active	NO
2	U51109DL1994PTC257619	AKB TREXIM PVT. LTD.	Director	14/03/2003	14/03/2003	-	Active	NO
3	U51109DL1994PTC257474	VIBHOR MANAGEMENT PVT LTD	Director	01/04/2005	01/04/2005	-	Active	NO
4	U51909DL1994PTC257621	LUMINANT DISTRIBUTERS PVT LTD	Director	19/01/2006	19/01/2006	-	Active	NO
5	U74899DL1988PTC033614	ANR INTERNATIONAL PRIVATE LIMITED	Director	08/08/2011	08/08/2011	-	Active	NO
6	U74899DL1990PTC039298	RISHU AGENCIES PVT. LTD.	Director	08/08/2011	08/08/2011	-	Active	NO
7	U45201DL1998PTC258104	SAFEX COMPLEX PRIVATE LIMITED	Director	27/08/2011	27/08/2011	-	Active	NO

Name :

Mr. Utsav Chhawchharia

Designation :

Director

Address :

B – 279, Yojna Vihar, Delhi – 110 092, India

Date of Birth/Age :

17.08.1980

Date of Appointment :

01.06.2010

DIN No.:

02787916

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	U51909DL1994PTC257621	LUMINANT DISTRIBUTERS PVT LTD	Director	07/10/2009	07/10/2009	-	Active	NO
2	U45201DL1998PTC258104	SAFEX COMPLEX PRIVATE LIMITED	Director	09/03/2010	09/03/2010	-	Active	NO
3	U74899DL1990PTC039298	RISHU AGENCIES PVT. LTD.	Director	01/06/2010	01/06/2010	-	Active	NO
4	U74899DL1988PTC033614	ANR INTERNATIONAL PRIVATE LIMITED	Director	01/06/2010	01/06/2010	-	Active	NO
5	U45400WB2013PTC195683	Shivshankar Nirman Private Limited	Additional director	27/12/2013	27/12/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Yogesh
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2013

Names of Shareholders	No. of Shares
Rachna Singhal	19500
Anurag Singhal	13000
Utsav Chhawchharia	14010
Anup Kumar Chhawchharia	240750
Khushboo Chhawchharia	15500
Rita Chhawchharia	45960
Anup Kumar - HUF	173000
Ritika Chhawchharia	12500
Total	534220

As on: 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	94.00
Other top fifty shareholders	6.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Distributor Trader and Importer of Petrochemicals and Polymers.
Imports :
Products :	Raw Material
Countries :	Korea China

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Kotak Mahidra Bank Limited, 36-38 A, Nariman Bhavan, 227 D, Nariman Point, Mumbai – 400 021, Maharashtra, India
• Oriental Bank of Commerce

Facilities :

Secured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT TERM BORROWINGS
Loans repayable on demand
From Oriental Bank of Commerce (Secured against hypothecation of stocks of chemicals and receivables and equitable mortgage of a residential property)	8.541	9.674
LONG TERM BORROWINGS
Loans and advances from related parties
From Directors	24.903	0.000
From Shareholders	16.154	0.000
Total	49.598	9.674

Banking Relations :	--
Auditors :
Name :	Rakesh Virender and Company Chartered Accountants
Address :	J – 5/147, 1^st Floor, Rajouri Garden, Delhi – 110 027, India
Tel. No.:	91-11-45059136
Mobile No.:	91-9310062697
E-Mail :	rakeshsharma68@rediffmail.com
PAN No.:	AASPS8444A
Associates/Subsidiaries :	Vibhor Management Private Limited

CAPITAL STRUCTURE

As on: 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
534220	Equity Shares	Rs.10/- each	Rs.5.342 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	5.342
(b) Reserves & Surplus	2.088
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	7.430
(3) Non-Current Liabilities
(a) Long-term borrowings	41.057
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) Long-term provisions	0.000
Total Non-current Liabilities (3)	41.057
(4) Current Liabilities
(a) Short term borrowings	44.774
(b) Trade payables	89.726
(c) Other current liabilities	5.385
(d) Short-term provisions	0.245
Total Current Liabilities (4)	140.130
TOTAL	188.617
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.434
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	1.751
(c) Deferred tax assets (net)	0.749
(d) Long-term Loan and Advances	0.147
(e) Other Non-current assets	0.000
Total Non-Current Assets	3.081
(2) Current assets
(a) Current investments	0.000
(b) Inventories	60.604
(c) Trade receivables	85.489
(d) Cash and cash equivalents	11.472
(e) Short-term loans and advances	15.743
(f) Other current assets	12.228
Total Current Assets	185.536
TOTAL	188.617

SOURCES OF FUNDS		31.03.2012	31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		5.342	5.342
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		1.463	3.662
4] (Accumulated Losses)		0.000	0.000
NETWORTH		6.805	9.004
LOAN FUNDS
1] Secured Loans		9.674	2.389
2] Unsecured Loans		57.275	34.834
TOTAL BORROWING		66.949	37.223
DEFERRED TAX LIABILITIES		0.000	0.097
TOTAL		73.754	46.324
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.335	0.366
Capital work-in-progress		0.000	0.000
INVESTMENT		1.751	1.751
DEFERRED TAX ASSETS		1.166	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	44.192	42.253
	Sundry Debtors	33.432	30.400
	Cash & Bank Balances	31.346	10.803
	Other Current Assets	7.253	4.706
	Loans & Advances	1.890	6.632
Total Current Assets		118.113	94.794
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	46.559	48.806
	Other Current Liabilities	1.052	1.530
	Provisions	0.000	0.251
Total Current Liabilities		47.611	50.587
Net Current Assets
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		73.754	46.324

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	493.868	402.323	207.319
		Other Income	NA	NA	6.103
		TOTAL	NA	NA	213.422
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	492.470	NA	212.533
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.398	(3.354)	0.889
Less/ Add	DEPRECIATION/ AMORTISATION		0.111	0.108	0.093
	PROFIT / (LOSS) BEFORE TAX		1.287	(3.462)	0.796
Less	TAX		0.662	(1.263)	0.239
	PROFIT / (LOSS) AFTER TAX		0.625	(2.199)	0.557
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(2.037)	0.162	(0.387)
	BALANCE CARRIED TO THE B/S		(1.412)	(2.037)	(0.162)
	Earnings / (Loss) Per Share (Rs.)		1.17	4.12	0.18

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	NA	0.27
Net Profit Margin (PBT/Sales)	(%)	0.26	(0.86)	0.38
Return on Total Assets (PBT/Total Assets}	(%)	0.69	(2.92)	0.84
Return on Investment (ROI) (PBT/Networth)		0.17	(0.50)	0.08
Debt Equity Ratio (Total Debt/Networth)		50.29	49.44	26.70
Current Ratio (Current Asset/Current Liability)		1.32	1.25	1.25

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	207.319	402.323	493.868
		94.060	22.754

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	207.319	402.323	493.868
Profit	0.557	-2.199	0.625
	0.27%	-0.55%	0.13%

LOCAL AGENCY FURTHER INFORMATION

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 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)	YES
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	YES
24) Banking facility details	YES
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	YES
28) Incorporation details, if applicable	YES
29) Last accounts filed at ROC	NO
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 Millions)

Particulars	31.03.2013	31.03.2012
Short Term Borrowings
Loans and advances from related parties
From Directors	0.000	12.308
From Shareholders	0.000	8.213
From the Companies under the same Management	0.000	26.754
Loans repayable on demand
Others
From Companies	36.233	10.000
TOTAL	36.233	57.275

Notes:

• The registered office address of the company has been shifted from 1/50, Ganga Apartments 1^st Floor, Lalita Park, Laxmi Nagar, New Delhi – 110092, Delhi, India to Present address w.e.f. 15.04.2010

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10315395	02/11/2011 *	50,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, M UMBAI, Maharashtra - 400021, INDIA	B25222258
2	10052888	29/04/2014 *	60,000,000.00	ORIENTAL BANK OF COMMERCE	F-21, PREET VIHAR, EAST DELHI, Delhi - 110092, IN DIA	C04575122

FIXED ASSETS

· Furniture and Fixtures

• Vehicles

· Office equipment

· Computers

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.59.13
UK Pound	1	Rs.99.02
Euro	1	Rs.80.62

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	RAS
Report Prepared by :	OKR

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	2
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

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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.