MIRA INFORM REPORT

Report Date :

25.03.2014

IDENTIFICATION DETAILS

Name :	R R BUSINESS PRIVATE LIMITED
Registered Office :	Keshar Apartment,460, Jhowtalla Road, Flat-B4, First Floor, Kolkata – 700059, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	16.08.2007
Com. Reg. No.:	21-176588
Capital Investment / Paid-up Capital :	Rs.0.600 Million
CIN No.: [Company Identification No.]	U74999WB2007PTC176588
PAN No.: [Permanent Account No.]	AADCR7014H
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Coal.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 59000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has filed the latest financial for the year 2013 but same could not be made available from government department. As per available financial of 2012, the company has taken huge external borrowing, which acts as threatening to the liquidity position of the company. Profitability of the company is low. 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

State-run banks hired nearly 300000 personnel including more than 94000 officers in the last four years, according to the Indian Banks Association. A study by trade lobby Assocham in September 2013 indicated that banks would need 800000 people in the next six years. It estimated that state-run lenders alone would hire 50000 people in 2013/14.

The Competition Commission of India plans to issue final orders within a broad time-frame of one year in matters where it decides to carry out detailed investigations. The number of complaints received by the watchdog which keeps tabs on unfair trade practices in the marketplace.

The government has detected custom tax evasion totaling around Rs 37920 mn in 14 states until December. Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.

Connaught Place in New Delhi slipped four notches to become the world’s eighth most expensive office locations. London’s West End is the world’s most expensive office market.

There are 4.072 mn number of high value spenders under the scanner of the income tax department. The income tax department has information that they have made cash deposits announcing to Rs 1 mn or more in their savings bank accounts in the current financial year. It plans to check potential evasion before the closing of the financial year on March 31.

Estimated pharmaceutical sales in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago. The life sciences and health care industry is up against challenges such as quality management, says a recent Deloitte report.

The gross non-performing assets of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months of the financial year. In absolute terms, the 40 listed banks added Rs 3386 crore to their gross NPAs in nine months with the State Bank of India leading with the State Bank of India leading with an accretion of Rs 16610 crore.

The inflow of smuggled gold doubled in 2013 following restrictions to curb the supply from official channels to contain the current account deficit. China surpassed India in the demand for gold for the first time in 2013 due to liberalization of gold trading norms by its local governments.

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. Kishore
Designation :	Accounts Executive
Contact No.:	91-712-2763798
Date :	24.03.2014

LOCATIONS

Registered Office :	Keshar Apartment,460, Jhowtalla Road, Flat-B4, First Floor, Kolkata – 700059, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	rrent@sancharnet.in rrent302@yahoo.in
Location :	Owned
Corporate Office :	Block No.102, 103, 1^st Floor, Jagdish Apartment, Near Jagat Chamber, Ambedkar Chowk, Nagpur – 440008, Maharashtra, India
Tel. No.:	91-712-2763798
Branch Office :	Flat No. B/1, Devi Vihar, Near Silver Residency Building, Lal Chowk, Kalyan (West), Mumbai – 400002, Maharashtra, India

DIRECTORS

As on 30.09.2013

Name :

Mr. Kshitiz Ramprasad Agrawal

Designation :

Director

Address :

302 Jai Commercial Complex, Opposite City Bus Stop, Gandhibagh, Nagpur – 440002, Maharashtra, India

Date of Birth/Age :

03.01.1984

Date of Appointment :

16.08.2007

PAN No.:

AEVPA6217L

DIN No.:

00796433

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	U51900MH2000PTC128586	TRIVENI MERCANTILES PRIVATE LIMITED	Director	22/11/2002	22/11/2002	-	Active	NO
2	U74999WB2007PTC176588	R R BUSINESS PRIVATE LIMITED	Director	16/08/2007	16/08/2007	-	Active	NO
3	U45400MH2007PLC173345	SONIKA ESTATES AND COLONISERS LIMITED	Director	22/08/2007	22/08/2007	-	Active	NO
4	U92490MH2009PTC196660	PENCH TIGER RETREAT PRIVATE LIMITED	Director	23/10/2009	23/10/2009	-	Active	NO
5	U51109WB2008PTC128309	SAFFRON VINTRADE PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO
6	U51109WB2005PTC106906	GANDHARAJ VINIMAY PVT LTD	Director	30/09/2011	30/09/2011	-	Active	NO
7	U51109WB2007PTC113480	COMFORT COMMODITIES PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO

Name :

Mr. Ramprasad Rambilas Agrawal

Designation :

Director

Address :

Block No.102, 103, 1^st Floor, Jagdish Apartment, Near Jagat Chamber, Ambedkar Chowk, Nagpur – 440008, Maharashtra, India

Date of Birth/Age :

11.02.1956

Date of Appointment :

16.08.2007

PAN No.:

ABOPA7385R

DIN No.:

00796489

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	U51900MH2000PTC128586	TRIVENI MERCANTILES PRIVATE LIMITED	Director	07/09/2000	07/09/2000	-	Active	NO
2	U74999WB2007PTC176588	R R BUSINESS PRIVATE LIMITED	Director	16/08/2007	16/08/2007	-	Active	NO
3	U45400MH2007PLC173345	SONIKA ESTATES AND COLONISERS LIMITED	Director	22/08/2007	22/08/2007	-	Active	NO
4	U92490MH2009PTC196660	PENCH TIGER RETREAT PRIVATE LIMITED	Director	23/10/2009	23/10/2009	-	Active	NO
5	U51109WB2008PTC128309	SAFFRON VINTRADE PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO
6	U51109WB2005PTC106906	GANDHARAJ VINIMAY PVT LTD	Director	30/09/2011	30/09/2011	-	Active	NO
7	U51109WB2007PTC113480	COMFORT COMMODITIES PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO

Name :

Mr. Santosh Ramprasad Agrawal

Designation :

Director

Address :

302 Jai Commercial Complex, Opposite City Bus Stop, Gandhibagh, Nagpur – 440002, Maharashtra, India

Date of Birth/Age :

05.02.1958

Date of Appointment :

30.09.2011

PAN No.:

ADQPAA0658R

DIN No.:

02985060

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	U74999WB2007PTC176588	R R BUSINESS PRIVATE LIMITED	Director	30/09/2011	27/09/2011	-	Active	NO
2	U51109WB2008PTC128309	SAFFRON VINTRADE PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO
3	U51109WB2005PTC106906	GANDHARAJ VINIMAY PVT LTD	Director	30/09/2011	30/09/2011	-	Active	NO
4	U51109WB2007PTC113480	COMFORT COMMODITIES PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Kishore
Designation :	Accounts Executive

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Ramprasad Rambilas Agrawal	10000
Kshitiz Ramprasad Agrawal	10000
Ravi Agrawal	5000
Rohit Agrawal	3000
Archana Yelne	2000
Pench Tiger Retreat Private Limited, India	5000
Spandan Business Private Limited, India	25000
Total	60000

As on 01.11.2013

Equity Share Break up (Percentage of Total Equity)

Names of Allottees	No. of Shares
Ramprasad Rambilas Agrawal	40000
Kshitiz Ramprasad Agrawal	40000
Ravi Agrawal	20000
Rohit Agrawal	12000
Archana Yelne	8000
Pench Tiger Retreat Private Limited, India	20000
Spandan Business Private Limited, India	100000
Total	240000

As on 30.09.2013

Category	Percentage
Bodies corporate	50.00
Directors or relatives of Directors	46.67
Other top fifty shareholders	3.33
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Coal.
Products :	Imported Coal
Imports :
Products :	Coal
Countries :	Indonesia
Terms :
Selling :	L/C and Credit
Purchasing :	L/C and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

20 (Approximately)

Bankers :

• Union Bank of India, Wardhaman Nagar Branch,9, Old Bhandara Road, Opposite Jain Temple, Wardhaman Nagar Square, Nagpur - 440008, Maharashtra, India
• The Saraswat Co-Operative Bank Limited, Chapru Nagar Branch, Chapru Nagar, Nagpur - 440008, Maharashtra, India

Facilities :

Cash Credit = Rs.50.000 Millions (From Union Bank of India)

SECURED LOANS	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	0.981	0.828
Working capital loans from banks	29.926	13.499
Total	30.907	14.327

Banking Relations :	--
Auditors :
Name :	Bang Gupta and Company Chartered Accountants
Address :	202 / 203 Jai Complex, Opposite City Bus Stop, Gandhibag, Nagpur – 440002, Maharashtra, India
PAN No.:	AAWPB2689N
Associates :	R. R. Industries R. R. Enterprises The Voyage R .R. Investment

CAPITAL STRUCTURE

After 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
60000	Equity Shares	Rs.10/- each	Rs.0.600 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.600	0.600
(b) Reserves & Surplus	14.084	9.164
(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)	14.684	9.764
(3) Non-Current Liabilities
(a) long-term borrowings	107.411	62.462
(b) Deferred tax liabilities (Net)	0.106	0.075
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	107.517	62.537
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	117.265	46.862
(c) Other current liabilities	2.490	1.998
(d) Short-term provisions	2.202	1.294
Total Current Liabilities (4)	121.957	50.154
TOTAL	244.158	122.455
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.258	1.890
(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	0.413	0.400
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	2.671	2.290
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.845
(c) Trade receivables	221.398	106.136
(d) Cash and cash equivalents	7.458	10.994
(e) Short-term loans and advances	12.631	2.185
(f) Other current assets	0.000	0.005
Total Current Assets	241.487	120.165
TOTAL	244.158	122.455

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.600
2] Share Application Money		6.193
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		6.793
LOAN FUNDS
1] Secured Loans		4.928
2] Unsecured Loans		23.147
TOTAL BORROWING		28.075
DEFERRED TAX LIABILITIES		0.041
TOTAL		34.909
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.882
Capital work-in-progress		0.000
INVESTMENT		0.400
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	49.328
	Cash & Bank Balances	1.480
	Other Current Assets	0.000
	Loans & Advances	0.405
Total Current Assets		51.213
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	14.694
	Other Current Liabilities	2.465
	Provisions	0.436
Total Current Liabilities		17.595
Net Current Assets		33.618
MISCELLANEOUS EXPENSES		0.009
TOTAL		34.909

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income		566.257	183.731
		Other Income		0.228	0.382
		TOTAL (A)	941.027	566.485	184.113
Less	EXPENSES
		Cost of purchase		544.106	173.021
		Direct expenses		7.161	2.143
		Payment and benefits to employees		2.116	2.140
		Administrative and selling expenses		4.940	3.130
		Other Expenses		0.005	0.005
		TOTAL (B)	933.874	558.328	180.439
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(including financial and depreciation expenses)	8.157	3.674
Less	FINANCIAL EXPENSES (D)			3.730	2.108
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			4.427	1.566
Less	DEPRECIATION/ AMORTISATION (F)			0.128	0.103
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		7.153	4.299	1.463
Less	TAX (H)		2.233	1.328	0.452
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		4.920	2.971	1.011
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		4.664	1.693	0.682
	BALANCE CARRIED TO THE B/S		9.584	4.664	1.693
	Earnings Per Share (Rs.)		82.01	49.51	16.84

Particulars	31.03.2013
Sales Turnover (Approximately)	1000.000

The above information has been parted by Mr. Kishore, Accounts Executive

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.52	0.52	0.55
Net Profit Margin (PBT/Sales)	(%)	NA	0.76	0.80
Return on Total Assets (PBT/Total Assets}	(%)	2.93	3.52	2.81
Return on Investment (ROI) (PBT/Networth)		0.49	0.44	0.22
Debt Equity Ratio (Total Debt /Networth)		7.31	6.40	4.13
Current Ratio (Current Asset/Current Liability)		1.98	2.40	2.91

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions
Share Capital	0.600	0.600
Reserves & Surplus	9.164	14.084
Net worth	9.764	14.684
long-term borrowings	62.462	107.411
Short term borrowings	0.000	0.000
Total borrowings	62.462	107.411
Debt/Equity ratio	6.397	7.315

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Total Income	184.113	566.485	941.027
		207.683	66.117

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Total Income	184.113	566.485	941.027
Profit	1.011	2.971	4.920
	0.55%	0.52%	0.52%

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 four 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	Yes
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 LOANS:

Particulars	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
Intercorporate borrowings	45.391	4.058
Loans and advances from directors	31.113	44.077
Total	76.504	48.135

FINANCIAL RESULTS / WORKING:

Directors are hopeful for the better results of the Company workings in the current year.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10473842	21/12/2013	87,500,000.00	Union Bank of India	Wardhaman Nagar Branch,9, Old Bhandara Road,Opposite Jain Temple, Wardhaman Nagar Square, Nagpur, Maharashtra - 440008, India	B94805116

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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 records 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.60.70
UK Pound	1	Rs.100.10
Euro	1	Rs.83.81

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	VNT

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
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.