1. Summary Information

		Country	India
Company Name	Baba Sales Private Limited	Principal Name 1	Mr. Shyam Lohia
Status	Moderate	Principal Name 2	Mr. Deepak Agarwal
		Registration #	03-010198
Street Address	6 and 7, Ashoka Place Ground Floor, Exhibition Road, Patna – 800001, Bihar, India
Established Date	26.05.2003	SIC Code	--
Telephone#	Not Available	Business Style 1	Wholesaler
Fax #	Not Available	Business Style 2	Trader
Homepage	babasales@sify.com	Product Name 1	Electronic Goods
# of employees	20 (Approximately)	Product Name 2	Electrical Goods
Paid up capital	Rs.1,900,000/-	Product Name 3	--
Shareholders	Bodies corporate – 80.26% Directors or relatives of Directors – 19.74%	Banking	State Bank of India
Public Limited Corp.	NO	Business Period	11 Years
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	B (30)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	20,604,000	Current Liabilities	9,337,000
Inventories	22,719,000	Long-term Liabilities	26,589,000
Fixed Assets	325,000	Other Liabilities	585,000
Deferred Assets	3,000	Total Liabilities	36,511,000
Invest& other Assets	100,000	Retained Earnings	5,340,000
		Net Worth	7,240,000
Total Assets	43,751,000	Total Liab. & Equity	43,751,000
Total Assets (Previous Year)	26,743,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	200,000,000 (Approximately)	Net Profit	488,000
Sales(Previous yr)	164,486,000	Net Profit(Prev.yr)	375,000

MIRA INFORM REPORT

Report Date :

23.06.2014

IDENTIFICATION DETAILS

Name :	BABA SALES PRIVATE LIMITED
Registered Office :	6 and 7, Ashoka Place, Ground Floor, Exhibition Road, Patna – 800001, Bihar
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.05.2003
Com. Reg. No.:	03-010198
Capital Investment / Paid-up Capital :	Rs.1.900 Millions
CIN No.: [Company Identification No.]	U51109BR2003PTC010198
PAN No.: [Permanent Account No.]	AACCB2038G
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, Distributor and Wholesaler of Electronic and Electrical Goods.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 29000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject an established company having a moderate track record. The rating is constrained on account of company’s moderate financial risk profile marked by low profitability level increased in external borrowing of the company over previous year. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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

N E W S

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

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. Deepak Agarwal
Designation :	Director
Contact No.:	91-9334101144
Date :	19.06.2014

LOCATIONS

Registered Office :	6 and 7, Ashoka Place Ground Floor, Exhibition Road, Patna – 800001, Bihar
Tel. No.:	Not Available
Mobile No.:	91-9334101144 (Mr. Deepak Agarwal)
Fax No.:	Not Available
E-Mail :	Mca.rocflling@gmail.com
Website :	babasales@sify.com
Warehouse :	Aditya Arcade, Exihibition Road, Patna – 800016, Bihar, India
Fax No.:	91-612-232464

DIRECTORS

AS ON: 30.09.2013

Name :

Mr. Shyam Lohia

Designation :

Director

Address :

2AE Block, Pushp Bihar, Exhibition Road, Patna - 800001, Bihar, India

Date of Birth/Age :

15.05.1961

Date of Appointment :

26.05.2003

DIN No. :

01659042

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	U51109BR2003PTC010198	BABA SALES PRIVATE LIMITED	Director	26/05/2003	26/05/2003	-	Active	NO
2	U51505BR1996PTC007469	PALLAVI MARKETING PRIVATE LIMITED	Director	04/08/2006	04/08/2006	-	Active	NO
3	U60231BR2008PTC013984	S S LOGISTICS PRIVATE LIMITED	Director	07/10/2008	07/10/2008	-	Active	NO

Name :

Mr. Deepak Agarwal

Designation :

Director

Address :

Dwarkakunj Road No. 12, Rajendra Nagar, Patna - 800016, Bihar, India

Date of Birth/Age :

07.12.1979

Date of Appointment :

26.05.2003

DIN No. :

01664877

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	U51109BR2003PTC010198	BABA SALES PRIVATE LIMITED	Director	26/05/2003	26/05/2003	-	Active	NO
2	U45200BR2012PTC019389	ADITYA INFRACOMP PRIVATE LIMITED	Director	22/10/2012	22/10/2012	-	Active	NO

Name :

Mr. Ajay Kumar Agarwal

Designation :

Director

Address :

Dwarkakunj Road No. 12, Rajendra Nagar, Patna - 800016, Bihar, India

Date of Birth/Age :

06.03.1969

Date of Appointment :

08.11.2003

DIN No. :

01717459

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	U51505BR1996PTC007469	PALLAVI MARKETING PRIVATE LIMITED	Director	02/01/2001	02/01/2001	-	Active	NO
2	U51109BR2003PTC010198	BABA SALES PRIVATE LIMITED	Director	08/11/2003	08/11/2003	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 30.09.2013

Names of Shareholders	No. of Shares
Deepak Agarwal	1775
Shyam Lohiya	520
Shankutala Devi Lohia	1350
Rakhi Agrawal	100
Ajay Kr. Agarwal	1
Kabita Agarwal	1
Pallavi Agarwal	1
Shambhu Dayal Agarwal	1
Vijay Kumar Agarwal	1
Keshav Engineering Company Private Limited	6500
Swastika Trafins Private Limited	2500
Taj Vincow Private Limited	1250
Kishan Chemicals and Fertilizer Private Limited	2500
Scionara Finvest Private Limited	2500
Total	19000

AS ON: 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	80.26
Directors or relatives of Directors	19.74
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Distributor and Wholesaler of Electronic and Electrical Goods.
Products :	Electronic and Electricals Goods

Terms :
Selling :	Cash, Cheque and Credit
Purchasing :	Cash, Cheque and Credit

GENERAL INFORMATION

Supplier :

• Astric Compiuter (I) Private Limited
• Bharti Telemedia Limited
• Samsung India Electronics Private Limited
• I. T. Zone

No. of Employees :

20 (Approximately)

Bankers :

Ø Bank of Baroda, Exhibition Road Branch, Patna – 800001, Bihar, India

Ø State Bank of India, Specialised Commercial Branch, Dak Bungalow Road, Patna - 800001, Bihar, India

Ø HDFC Bank Limited

Ø ICICI Bank Limited

Facilities :

Secured Loan	31.03.2013 [Rs. in Millions]	31.03.2012 [Rs. in Millions]
Short Term Borrowing
Cash Credit from S.B.I, (Patna) (Against Hypothecation of stock & Book debts)	0.000	3.015
Cash Credit from Bank of Baroda (Against Hypothecation of stock & Book debts)	6.996	0.000
Total	6.996	3.015

Banking Relations :	--
Auditors :
Name :	A. K. Salampuria and Associates Chartered Accountants
Address :	1^st Floor, Above Mica Sales, Exhibition Road, Patna – 800001, Bihar, India
Tel. No.:	91-612-6531293
Mobile No.:	91-9334112075 / 9934123121 / 9835224585
E-Mail :	sujeet201@sify.com anand_ca@sify.com
PAN No.:	AAFFA1003L

CAPITAL STRUCTURE

AS ON: 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.100/- each	Rs.2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
19000	Equity Shares	Rs.100/- each	Rs.1.900 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.900	1.900
(b) Reserves & Surplus	5.340	4.872
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	7.240	6.772
(3) Non-Current Liabilities
(a) long-term borrowings	19.593	13.593
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	19.593	13.593
(4) Current Liabilities
(a) Short term borrowings	6.996	3.015
(b) Trade payables	9.312	2.880
(c) Other current liabilities	0.025	0.029
(d) Short-term provisions	0.585	0.454
Total Current Liabilities (4)	16.918	6.378
TOTAL	43.751	26.743
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.325	0.385
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.100	0.100
(c) Deferred tax assets (net)	0.003	0.005
(d) Long-term Loan and Advances	0.082	0.082
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	0.510	0.572
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	22.719	8.649
(c) Trade receivables	15.393	15.732
(d) Cash and cash equivalents	2.617	0.515
(e) Short-term loans and advances	2.512	1.275
(f) Other current assets	0.000	0.000
Total Current Assets	43.241	26.171
TOTAL	43.751	26.743

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		1.900
2] Share Application Money		3.000
3] Reserves & Surplus		4.497
4] (Accumulated Losses)		0.000
NETWORTH		9.397
LOAN FUNDS
1] Secured Loans		1.726
2] Unsecured Loans		7.093
TOTAL BORROWING		8.819
DEFERRED TAX LIABILITIES		0.005
TOTAL		18.221
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.110
Capital work-in-progress		0.000
INVESTMENT		0.100
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.571
	Sundry Debtors	13.186
	Cash & Bank Balances	1.251
	Other Current Assets	0.000
	Loans & Advances	0.695
Total Current Assets		21.703
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.416
	Other Current Liabilities	0.000
	Provisions	0.276
Total Current Liabilities		3.692
Net Current Assets		18.011
MISCELLANEOUS EXPENSES		0.000
TOTAL		18.221

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	200.000 (Approximately)	164.486	167.617
		Other Income	NA	4.868	0.201
		TOTAL (A)	NA	169.354	167.818
Less	EXPENSES
		Purchase of Stock in Trade		167.978	165.022
		Changes in Inventory of Finished Goods		(2.078)	--
		Selling and Administrative Expenses		--	1.963
		Employee Benefit Expenses		0.640	--
		(Increase)/Decrease in stock		0.000	(0.303)
		Other Expenses		1.072	--
		TOTAL (B)	NA	167.612	166.682
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			1.742	1.136
Less	FINANCIAL EXPENSES (D)			1.078	0.548
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			0.664	0.588
Less/ Add	DEPRECIATION/ AMORTISATION (F)			0.121	0.040
	PROFIT BEFORE TAX (E-F) (G)		0.769	0.543	0.548
Less	TAX (H)		01.281	0.168	0.222
	PROFIT AFTER TAX (G-H) (I)		0.488	0.375	0.326
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.272	0.897	0.571
	BALANCE CARRIED TO THE B/S		1.760	1.272	0.897
	Earnings Per Share (Rs.)		25.68	19.74	17.15

Particulars	31.03.2014
	280.000
Sales Turnover (Approximately)

The above information has been parted by Mr. Deepak Agarwal.

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	0.22	0.19
Net Profit Margin (PBT/Sales)	(%)	NA	0.33	0.33
Return on Total Assets (PBT/Total Assets}	(%)	NA	2.03	2.51
Return on Investment (ROI) (PBT/Networth)		NA	0.80	0.06
Debt Equity Ratio (Total Debt /Networth)		3.67	2.45	0.94
Current Ratio (Current Asset/Current Liability)		2.56	4.10	5.88

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)
Share Capital	1.900	1.900
Reserves & Surplus	4.872	5.340
Share Application money pending allotment	0.000	0.000
Net worth	6.772	7.240
long-term borrowings	19.593	13.593
Short term borrowings	3.015	6.996
Total borrowings	22.608	20.589
Debt/Equity ratio	3.338	2.844

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last 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	No
17]	Major suppliers	Yes
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	-------
22]	Litigations that the firm / promoter involved in	--------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	---------
26]	Buyer visit details	--------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOAN:

Particulars	31.03.2013 [Rs. in Millions]	31.03.2012 [Rs. in Millions]
Long Term Borrowing
From Body Corporate
Glorious Holding Private Limited	2.000	2.000
Agni Transport Private Limited	5.000	0.000
Marigold Heights Private Limited	1.000	1.000
M/s Elerlink Distributors Private Limited	1.000	1.000
Purva Parishad Resources Private Limited	2.000	1.000
Fame Media Private Limited	4.000	4.000
From Directors and Shareholders
Ajay Kr. Agarwal	1.320	1.320
Ajay Kr. Agarwal (HUF)	1.150	1.150
Deepak Agarwal	0.558	0.558
Kabita Agarwal	0.100	0.100
Pallavi Agarwal	0.100	0.100
Shyam Lohia	0.115	0.115
Shyam Lohia (HUF)	0.900	0.900
Rakhi Agarwal	0.150	0.150
Shambhu Dayal Agarwal	0.100	0.100
Shambhu Devi Agarwal	0.000	0.000
Vijay Kumar Agarwal	0.100	0.100
Vivek Kumar Agarwal	0.000	0.000
Total	19.593	13.593

INDEX CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10383123	10/10/2013 *	18,500,000.00	BANK OF BARODA	EXHIBITION ROAD BRANCH, PATNA, BIHAR - 800001, INDIA	B87998506

* Date of charge modification

FIXED ASSETS:

Ø Computer

Ø Plant and Machinery

Ø Motor Cycle

Ø Office Equipment

Ø Tata Ace

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.28
UK Pound	1	Rs.102.77
Euro	1	Rs.82.12

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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

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.