MIRA INFORM REPORT

Report Date :

27.06.2014

IDENTIFICATION DETAILS

Name :	URMIL PROPERTIES AND INVESTMENT PRIVATE LIMITED MULTANI JEWELLERS (UNIT OF URMIL PROPERTIES AND INVESTMENT PRIVATE LIMITED)
Registered Office :	A 285 Defence Colony, New Delhi - 110024
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	17.09.1983
Com. Reg. No.:	55-016560
Capital Investment / Paid-up Capital :	Rs.30.239 Millions
CIN No.: [Company Identification No.]	U74899DL1983PTC016560
TIN No.	07590353276
PAN No.: [Permanent Account No.]	AAACU0954G
Legal Form :	Private Limited Liability Company
Line of Business :	Retailing of jewellery.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 140000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Reserves of the company are low, borrowings of the company also seems to be increasing. However, trade relations are reported as fair. Business is active. Payments terms are reported to be 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 (GENERAL DETAILS)

Name :	Mr. Puneet
Designation :	Director
Contact No.:	91-9810059225
Date :	24.06.2014

LOCATIONS

Registered Office :	A 285 Defence Colony, New Delhi – 110024, India
Tel. No.:	91-11-29235544/66605260
Mobile No.:	91-9810059225 (Mr. Puneet)
Fax No.:	Not Divulged
E-Mail :	puneet@multanjjewellers.com rcagg2003@yahoo.com
Unit:	ME 3-4, M Block Market, Greater Kailash-I, A Unit of Urmil Properties and Investments Pvt. Ltd. New Delhi – 110 048, Delhi

Note: They have 2 Showroom and 3 Offices in Delhi.

DIRECTORS

As on 30.09.2013

Name :

Mr. Lokesh Datta

Designation :

Director

Address :

W-125, Greater Kailash – I, New Delhi – 110048, India

Date of Birth/Age :

21.08.1930

Date of Appointment :

17.09.1983

DIN No.:

00233410

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	U74899DL1983PTC016560	URMIL PROPERTIES AND INVESTMENT PRIVATE LIMITED	Director	17/09/1983	17/09/1983	-	Active	NO
2	U74899DL1984PTC018727	BLUE HEART PROPERTIES PRIVATE LIMITED	Director	18/07/1984	18/07/1984	-	Active	NO
3	U74899DL1976PTC008244	MULTANI PROPERTIES AND INVESTMENT COMPANY PRIVATE LIMITED	Director	17/05/1992	17/05/1992	-	Active	NO
4	U74899DL1995PTC073621	KESHAV JEWELLERS PRIVATE LIMITED	Director	01/08/2003	01/08/2003	-	Amalgamated	NO
5	U74899DL1986PLC024950	TRIPURARI DEVELOPERS INDIA LIMITED	Director	22/09/2008	22/09/2008	-	Amalgamated	NO
6	U74994DL2013PTC262825	H THIRTY SIX ENTERPRISES PRIVATE LIMITED	Director	27/12/2013	27/12/2013	-	Active	NO

Name :

Urmil Datta

Designation :

Director

Address :

W-125, Greater Kailash – I, New Delhi – 110048, India

Date of Birth/Age :

28.10.1938

Date of Appointment :

17.09.1983

DIN No.:

00234907

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	U74899DL1976PTC008244	MULTANI PROPERTIES AND INVESTMENT COMPANY PRIVATE LIMITED	Director	13/06/1976	13/06/1976	-	Active	NO
2	U74899DL1983PTC016560	URMIL PROPERTIES AND INVESTMENT PRIVATE LIMITED	Director	17/09/1983	17/09/1983	-	Active	NO
3	U74899DL1984PTC018727	BLUE HEART PROPERTIES PRIVATE LIMITED	Director	18/07/1984	18/07/1984	-	Active	NO
4	U74994DL2013PTC262825	H THIRTY SIX ENTERPRISES PRIVATE LIMITED	Director	27/12/2013	27/12/2013	-	Active	NO

Name :

Mr. Puneet Datta

Designation :

Additional director

Address :

W-125, Greater Kailash – I, New Delhi – 110048, India

Date of Birth/Age :

07.05.1965

Date of Appointment :

28.11.2008

DIN No.:

00234808

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	U74899DL1995PTC073621	KESHAV JEWELLERS PRIVATE LIMITED	Director	01/08/2003	01/08/2003	-	Amalgamated	NO
2	U74899DL1986PLC024950	TRIPURARI DEVELOPERS INDIA LIMITED	Director	03/11/2008	03/11/2008	-	Amalgamated	NO
3	U74899DL1983PTC016560	URMIL PROPERTIES AND INVESTMENT PRIVATE LIMITED	Additional director	28/11/2008	28/11/2008	-	Active	NO
4	U74899DL1984PTC018727	BLUE HEART PROPERTIES PRIVATE LIMITED	Additional director	12/10/2010	12/10/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Lokesh Datta	10240
Urmil Datta	10240
Puneet Datta	23860
Krishna Datta	86923
Keshav Datta	86923
Lokesh Datta HUF	1000
Puneet Datta HUF	82206
Rakhi Datta	1000
Total	302392

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Retailing of jewellery.
Terms :
Selling :	Cash and Credit, Cheque
Purchasing :	Cash and Credit, Cheque

GENERAL INFORMATION

No. of Employees :

25 (Approximately)

Bankers :

· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

· Citi Bank N.A., 4th Floor, Jeevan Bharti Building, 124, Connaught Circus, New Delhi - 110001, Delhi, India

· Bank of Baroda, B-3, Connaught Place, New Delhi - 110001, Delhi, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Secured Loans and Advances SCB O/D A/C (Secured by way Personal Guarantee and Personal Property bearing No.W-125,G.K.-I New Delhi-48 of the Director)	44.993	44.637
Home Loan A/C City Bank	0.000	-0.398
Term Loan A/C Baarclys Bank	0.000	0.213
BMW Financial Servises	1.612	0.000
Total	46.605	44.452

Banking Relations :
Auditors :
Name :	RC Agarwal and Company Chartered Accountants
Address :	102, Laxman Palace, Veer Savarkar Bolck, Madhudan Road, Delhi – 110092, India
Tel. No.:	91-11-42445220
Mobile No.:	91-9810039548
Fax No.:	91-11-2245073
E-Mail :	rcagg2003@yahoo.com
PAN N Income-tax PAN of auditor or auditor's firm :	AACFR7407E

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
450000	Equity Shares	Rs.100/- each	Rs. 45.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
302392	Equity Shares	Rs.100/- each	Rs. 30.239 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	30.239	0.100	0.100
(b) Reserves & Surplus	4.236	5.431	6.628
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	34.475	5.531	6.728
(3) Non-Current Liabilities
(a) long-term borrowings	46.605	44.452	56.894
(b) Deferred tax liabilities (Net)	1.246	1.094	0.000
(c) Other long term liabilities	24.312	28.957	5.134
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	72.163	74.503	62.028
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	52.930	96.019	62.068
(c) Other current liabilities	6.179	0.288	0.360
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	59.109	96.307	62.428
TOTAL	165.747	176.341	131.184
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	31.622	28.813	29.878
(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	0.000	0.950	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.866
(d) Long-term Loan and Advances	0.000	1.650	4.639
(e) Other Non-current assets	3.790	0.362	0.362
Total Non-Current Assets	35.412	31.775	35.745
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	103.574	70.652	61.527
(c) Trade receivables	20.113	37.472	31.414
(d) Cash and cash equivalents	3.682	34.369	0.795
(e) Short-term loans and advances	2.966	2.073	1.703
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	130.335	144.566	95.439
TOTAL	165.747	176.341	131.184

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT AFTER TAX		3.065	0.763	1.627
	Earnings Per Share (Rs.)		10.14	NA	NA

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt /Networth)	1.35	8.04	8.46
Current Ratio (Current Asset/Current Liability)	2.20	1.50	1.53

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	0.100	0.100	30.239
Reserves & Surplus	6.628	5.431	4.236
Net worth	6.728	5.531	34.475
long-term borrowings	56.894	44.452	46.605
Short term borrowings	0.000	0.000	0.000
Total borrowings	56.894	44.452	46.605
Debt/Equity ratio	8.456	8.037	1.352

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	No
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	No
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

DIAMOND INDUSTRY – INDIA

From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

Excerpts from Times of India dated 30^th October 2010 is as under –

Gem and Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

NOTE: Registered office of the company has been shifted from H-36 Connaught Circus, New Delhi – 110001, India to the present address w.e.f. 17.10.2011

NEW BUSINESS

During the preceding year the company has commenced business of jewellery under the name of Multani JEWELLERS which is continued during the year.

AMALGAMATION OF VARIOUS COMPAIRES IN THIS COMPANY.

The Board has resolved in the meeting held on 17th MARCH 2010 for amalgamation with M/S Divya Shakti Buildcon Pravate Limited, M/S Divyashakti Finvest Private Limited, M/S Ram Madhav Investment Private Limited, M/S Gannayak Computers Private Limited, M/s Guru Kripa India Private Limited, M/S Hari Om Properties Private Limited, M/s Jwala Devi Developers Private Limited, M/S Keshav Jewelers Private Limited, M/S Lokmanya Construction Company Pravate Limited, M/s Meera Madhav Investments Private Limited, M/s Nainadevi Builders Private Limited, M/S Parwardigar Finport Private Limited, M/S Parwardigar Properties Private Limited, M/S Radhey Krishan Investment Private Limited, M/S Servewell Properties Private Limited, M/S Trirpurari Developers, M/s Assured Properties Private Limited, M/S Carewell Estate private limited, as Transferor Companies pursuant to the provisions of Sections 391 to 394 and other applicable provisions, if any, of the Companies Act,1956 and sub clause 5 of Cause B of the objects clause of the Memorandum of Association of the Company. Hon’ High Court of Delhi at New Delhi approved the above companies amalgamated with this company as Transferee Company u/s 394 of the Companies Act,1956 with effect from 01/04/2012 being appointed date. According to the order of High Court, Delhi, 1(One) equity of Rs. 100/- of this company for every 10 (Ten) equity shares of Rs. 10/- each of above 18 transferor Companies vide their order dated 26th February and 22nd April 2013.Further all the Property, right, powers and Liabilities of the all 18 transferors companies will be transferred to transferee Company that is this company with effect from 01/04/2012. Accordingly shares have been allotted to transferors companies. The annual accounts of this company have been made after taking all the assets and liabilities of all the 18 transferors companies and after allotment of 1(one) equity share of Rs.100/- each for every 10( Ten) equity shares of Rs. 10/-(Ten) equity shares each to transferors companies.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10473249	23/01/2014	24,300,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B94601507

FIXED ASSETS

· Air Conditioner

· Car

· Fans

· Fire Ext.

· Generator

· Building

· Inverter

· Renovation

· Television

· Pumps

· Computer

· CCTV Control

· Viabrator Machine

· Mobile

· Gold Melting Machine

· Car (Swift Dzire)

· Note Counting Machine

· Cutting Machine

· Moter Cycle (Honda)

· Transormer

· Car (BMW)

· Stapilizer

· Display

· Electrical Installation

· Intercom

· Fax Machine

· Furniture

· Microwave

· Pager

· Plants and Assets

· Refrigrator

· Safe

· Scooter

· Security System

· Sound System

· Time Recorder

· Type Writer

· Utensil

· Weing Machine

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.60.16
UK Pound	1	Rs.102.23
Euro	1	Rs.82.04

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
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		31

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.