MIRA INFORM REPORT

Report Date :

23.06.2014

IDENTIFICATION DETAILS

Name :	CONTINENTAL HOSPITALS LIMITED
Registered Office :	8-2-293 / 82 / A / 1292, Road No. 65, Jubilee Hills, Hyderabad - 500033, Telangana
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	06.01.2007
Com. Reg. No.:	01-052283
Capital Investment / Paid-up Capital :	Rs.135.838 Millions
CIN No.: [Company Identification No.]	U85110TG2007PLC052283
TAN No.: [Tax Deduction & Collection Account No.]	HYDC03212G
PAN No.: [Permanent Account No.]	AADCC0226G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is Hospital.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 2167000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated on 06^th January 2007, it has commenced its business operations from May 2011. It is having moderate trace record. As per registrar of companies the date of balance sheet i.e. financial filed shown as 31.03.2011 but the documents related to the financial are not made available from any source. Further management has failed to file its financial record with government department since 2012. As per previous financial record of 2010, the company has incurred huge pre-operating expenses which resulting into accumulated losses recorded by the company. However, trade relations are fair. Business is active. Payment terms are unknown. The company can be considering for business dealing with great 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.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term fund based limits BB (Suspended)
Rating Explanation	Inadequate degree of safety and high credit risk.
Date	February 2013

NOTE: Reason for suspension: absence of the requisite information from company.

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 BY

Name :	Mr. Abhirm
Designation :	Assistant Manager
Contact No.:	91-40-40172654
Date :	20.06.2014

LOCATIONS

Registered Office :	8-2-293 / 82 / A / 1292, Road No. 65, Jubilee Hills, Hyderabad - 500033, Telangana, India
Tel. No. :	Not Available
Fax No. :	Not Available
E-Mail :	ravadacs@yahoo.in
Website :	www.continentalhospitals.com
Corporate Office :	Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India
Tel. No. :	91-40-23542395 / 40172654 / 42006532
Fax No. :	91-40-23542393.
Hospital Address:	Plot No.3, Road No.2, IT and Financial Dist, Nanakramguda, Gachibowli, Hyderabad - 500035, Andhra Pradesh, India
Tel. No. :	91-40-67229999

DIRECTORS

As on 29.09.2011

Name :

Thota Gurunath Reddy

Designation :

Managing director

Address :

Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

21.01.1957

Date of Appointment :

06.01.2007

DIN No. :

01736864

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	U74140TN2003PTC051689	CELER SOFT SERVICES PRIVATE LIMITED	Director	30/09/2003	30/09/2003	-	Active	NO
2	U85110TG2007PLC052283	CONTINENTAL HOSPITALS LIMITED	Director	06/01/2007	06/01/2007	-	Active	NO
3	U85110TG2007PTC052797	CONTINENTAL SURGERY CENTER PRIVATE LIMITED	Director	17/02/2007	17/02/2007	-	Active	NO
4	U65993TG2007PTC054367	PARADIGM HOLDINGS PRIVATE LIMITED	Director	08/06/2007	08/06/2007	-	Active	NO
5	U74999TG2007PTC055606	PARADIGM CORPORATION PRIVATE LIMITED	Director	20/09/2007	20/09/2007	-	Active	NO
6	U85110TG2013PTC089075	CONTINENTAL INSTITUTE OF BIO MEDICAL RESEARCH APPLICATIONS PRIVATE LIMITED	Director	23/07/2013	23/07/2013	-	Active	NO
7	U85100TG2013PTC091431	CONTINENTAL COMMUNITY CLINICS PRIVATE LIMITED	Director	02/12/2013	02/12/2013	-	Active	NO
8	U85100TG2014PTC093011	C3 Health Community Corporation Private Limited	Director	18/02/2014	18/02/2014	-	Active	NO

Name :

Vasu Reddy

Designation :

Director

Address :

Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

28.11.1962

Date of Appointment :

06.01.2007

DIN No. :

01812368

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	U85110TG2007PLC052283	CONTINENTAL HOSPITALS LIMITED	Director	06/01/2007	06/01/2007	-	Active	NO
2	U85110TG2007PTC052797	CONTINENTAL SURGERY CENTER PRIVATE LIMITED	Director	24/02/2007	24/02/2007	-	Active	NO
3	U65993TG2007PTC054367	PARADIGM HOLDINGS PRIVATE LIMITED	Director	08/06/2007	08/06/2007	-	Active	NO
4	U74999TG2007PTC055606	PARADIGM CORPORATION PRIVATE LIMITED	Director	20/09/2007	20/09/2007	-	Active	NO
5	U85110TG2013PTC089075	CONTINENTAL INSTITUTE OF BIO MEDICAL RESEARCH APPLICATIONS PRIVATE LIMITED	Director	23/07/2013	23/07/2013	-	Active	NO
6	U85100TG2013PTC091431	CONTINENTAL COMMUNITY CLINICS PRIVATE LIMITED	Director	02/12/2013	02/12/2013	-	Active	NO
7	U85100TG2014PTC093011	C3 Health Community Corporation Private Limited	Director	18/02/2014	18/02/2014	-	Active	NO

Name :

Kalakota Venkata Reddy

Designation :

Director

Address :

53-32-5/15, KRM Colony, Seethammadhara, Visakhapatnam, - 530013, Andhra Pradesh, India

Date of Birth/Age :

12.03.1961

Date of Appointment :

01.03.2009

DIN No. :

01549768

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	U20100AP1992PTC014255	G.R.FURNITURES PRIVATE LIMITED	Director	04/12/1997	04/12/1997	-	Active	NO
2	U24222AP1995PLC019674	AMBUJA PAINTS LIMITED	Director	18/08/1999	18/08/1999	25/02/2013	Active	NO
3	U85110TG2007PLC052283	CONTINENTAL HOSPITALS LIMITED	Director	28/09/2009	01/03/2009	-	Active	NO
4	U74900TG2010PTC070654	SERVEL KRISHNA ENGINEERS PRIVATE LIMITED	Director	12/06/2012	12/06/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Abhiram
Designation :	Assistant Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	Address	No. of Shares	%age
Vasu Reddy	Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India	593502	4.21
Guru N Reddy	Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India	6931362	49.21
Raghunath Reddy	Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India	2500	0.02
Guru Datta Reddy	Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India	2500	0.02
Narmada Reddy	Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India	52898	0.38
K. Aruna Reddy	Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India	1500	0.01
Damayanthi Reddy	Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India	1500	0.01
Paradigm Corporation Private Limited, India	Plot No.1292, Road No.65, Jubliee Hills, Hyderabad – 500033, Andhra Pradesh, India	6500000	46.15
Total		14085762	100.00

As on 29.09.2011

Equity Share Break up (Percentage of Total Equity)

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

BUSINESS DETAILS

Line of Business :

Subject is Hospital.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

¨ Bank of Baroda, 3-6-262/2, 1^st Floor, Tirumala Estates, Himayat Nagar, Hyderabad - 500029, Andhra Pradesh, India

¨ Axis Bank

¨ Bank of India

¨ Canara Bank

Facilities :

SECURED LOANS	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
Term loan from bank	202.175	0.000
Total	202.175	0.000

Banking Relations :	--
Auditors :
Name :	A.Ramachandra and Company Chartered Accountants
Address :	3-6-369/A/11, 1^st Floor, Street No. 1, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India
Tel. No. :	91-40-27633677
Fax No. :	91-40-27639746
E-Mail :	arrandco@gmail.com
PAN No. :	AADFA1033C

CAPITAL STRUCTURE

After 29.09.2011

Authorised Capital : Rs. 350.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 299.933 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13583812	Equity Shares	Rs.10/- each	Rs.135.838 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		135.838	63.557	106.331
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		406.014	86.708	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		541.852	150.265	106.331
LOAN FUNDS
1] Secured Loans		202.175	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		202.175	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		744.027	150.265	106.331
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		647.927	101.325	1.676
Capital work-in-progress		0.000	0.000	98.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	3.843	6.471	3.001
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	102.582	26.513	0.000
Total Current Assets		106.425	32.984	3.001
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	43.378	0.875	0.135
	Provisions	0.000	0.084	0.000
Total Current Liabilities		43.378	0.959	0.135
Net Current Assets		63.047	32.025	2.866
MISCELLANEOUS EXPENSES		33.053	16.915	3.789
TOTAL		744.027	150.265	106.331

KEY RATIOS

PARTICULARS	31.03.2010	31.03.2009	31.03.2008
Debt Equity Ratio (Total Debt/Networth)	0.37	0.00	0.00
Current Ratio (Current Asset/Current Liability)	2.45	34.39	22.23

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2008	31.03.2009	31.03.2010
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	106.331	63.557	135.838
Reserves & Surplus	0.000	86.708	406.014
Net worth	106.331	150.265	541.852
Secured Loans	0.000	0.000	202.175
Unsecured Loans	0.000	0.000	0.000
Total borrowings	0.000	0.000	202.175
Debt/Equity ratio	0.000	0.000	0.373

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	No
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	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	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	Yes

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10474065	31/12/2013	299,000,000.00	BANK OF BARODA	3-6-262/2, 1ST FLOOR, TIRUMALA ESTATES, HIMAYAT NAGAR, HYDERABABD, Andhra Pradesh - 500029, INDIA	B94890555
2	10441830	20/02/2014 *	542,700,000.00	Axis Bank Limited	CORPORATE BANKING BRANCH, 6-3-879/B, 1st floor, G Pulla Reddy Building,Green Lands, Begumpet Road, Hyderabad, Telangana - 500016, INDIA	C07085293
3	10402723	12/02/2013	300,000,000.00	INDIAN BANK	8-2-683, Flat No. 101, Lapaloma Caves Apts, Beside Kaman, Rd No.12,Banjara Hills, HYDERABABD, Andhra Pradesh - 500034, INDIA	B67979245
4	10399746	24/01/2013	119,400,000.00	BANK OF BARODA	3-6-262/2, 1ST FLOOR, TIRUMALA ESTATES, HIMAYAT NAGAR, HYDERABABD, Andhra Pradesh - 500029, INDIA	B66830555
5	10399749	24/01/2013	361,700,000.00	BANK OF BARODA	3-6-262/2, 1ST FLOOR, TIRUMALA ESTATES, HIMAYAT NAGAR, HYDERABABD, Andhra Pradesh - 500029, INDIA	B66831140
6	10312368	24/08/2011	638,600,000.00	BANK OF BARODA	3-6-262/2, 1ST FLOOR, TIRUMALA ESTATES, HIMAYAT NAGAR, HYDERABABD, Andhra Pradesh - 500029, INDIA	B23308786
7	10163580	09/03/2012 *	2,170,200,000.00	Axis Bank Limited	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA	B37175882

* Date of charge modification

FIXED ASSETS

œ Office Equipment

œ Electrical Equipment

œ Furniture and Fixture

œ Computers

œ 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 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.10.77
Euro	1	Rs.82.12

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	KAR
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	--
--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		26

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.