MIRA INFORM REPORT

Report Date :

15.05.2014

IDENTIFICATION DETAILS

Name :	INTECH DIGITAL TECHNOLOGY (INDIA) PRIVATE LIMITED
Registered Office :	552, Katra Asharfi, Chandni Chowk, Delhi - 110006
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	24.04.2007
Com. Reg. No.:	55-162515
Capital Investment / Paid-up Capital :	Rs.20.000 Millions
CIN No.: [Company Identification No.]	U72900DL2007PTC162515
TAN No.: [Tax Deduction & Collection Account No.]	DELI06946C
PAN No.: [Permanent Account No.]	AABCI6751Q
Legal Form :	Private Limited Liability Company
Line of Business :	Trading and Manufacturing of Electrical and Electrical Goods.
No. of Employees :	Information declined by the management.

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 46000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate tracke. The company has incurred a loss from its operations during 2013. However, trade relations reported to be fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some cautions.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

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

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

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

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

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

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

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

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

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

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

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION DENIED BY

Name :	Mr. Naresh N Tyagi
Designation :	Accounts Manager
Contact No.:	91-9810533189
Date :	14.05.2014

LOCATIONS

Registered Office :	552, Katra Asharfi, Chandni Chowk, Delhi – 110006, India
Tel. No.:	Not Available
Mobile No.:	91-9810533189 (Mr. Naresh N Tyagi)
Fax No.:	Not Available
E-Mail :	atulaygupta@gmail.com renna1234@rediffmail.com advapl@vsnl.com mm@advancedgroup.in aapl19999@gmail.com

DIRECTORS

AS ON: 30.09.2013

Name :

Mr. Tarun Murarka

Designation :

Director

Address :

S-551, Greater Kailash, Part-2, New Delhi – 110048, India

Date of Birth/Age :

09.05-1964

Date of Appointment :

14.04.2011

DIN No.:

00090679

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	U74899DL1993PTC054653	TULIKA APPLIANCES PRIVATE LIMITED	Director	29/07/1993	29/07/1993	-	Active	NO
2	U25199DL1990PLC041939	GALAXY FORMS LIMITED.	Director	01/11/1994	01/11/1994	07/07/2012	Active	NO
3	U29303DL1996PTC076584	ADVANCED APPLIANCES PVT. LTD.	Director	28/12/1996	28/12/1996	-	Active	NO
4	U29303DL1998PTC091653	EMKAY APPLIANCES PRIVATE LIMITED	Director	13/01/1998	13/01/1998	-	Active	NO
5	U51909WB2005PTC105946	DEBRUP COMMERCIAL PRIVATE LIMITED	Director	29/09/2006	20/12/2005	-	Active	NO
6	U70101DL2006PTC144364	GRAPHIC PROMOTERS AND DEVELOPERS PRIVATE LIMITED	Director	02/01/2006	02/01/2006	-	Active	NO
7	U45201UP2005PTC030576	WELLWON BUILDERS (INDIA) PRIVATE LIMITED	Director	31/03/2006	31/03/2006	01/03/2008	Active	NO
8	U45201UP2005PTC031159	WELLDONE INFRASTRUCTURE PRIVATE LIMITED	Director	31/03/2006	31/03/2006	28/08/2008	Active	NO
9	U74991DL2006PTC148790	OMNIA APPLIANCES PRIVATE LIMITED.	Director	13/05/2006	13/05/2006	-	Active	NO
10	U74899DL1978PTC008905	INNOVATIVE THERMAL COATINGS PRIVATE LIMITED	Director	29/05/2006	29/05/2006	25/05/2007	Active	NO
11	U01403DL2006PTC150110	TPM FARMS PRIVATE LIMITED	Director	24/06/2006	24/06/2006	-	Active	NO
12	U45201DL2004PTC130287	GALAXY BUILDTECH PRIVATE LIMITED	Director	01/11/2006	01/11/2006	04/03/2014	Active	NO
13	U74899DL1993PTC055608	RATIONAL IT PARK PRIVATE LIMITED	Director	01/11/2007	02/04/2007	-	Active	NO
14	U72300DL2007PTC166465	KELT INFOTECH PRIVATE LIMITED	Director	31/07/2007	31/07/2007	17/10/2011	Active	NO
15	U72200DL2007PTC157731	KHURANA INFOTECH PRIVATE LIMITED	Additional director	04/08/2007	04/08/2007	08/11/2011	Active	NO
16	U25201UP2005PTC031177	WELLDONE TECHNOLOGY PARKS DEVELOPMENT PRIVATE LIMITED	Director	29/09/2007	14/09/2007	19/09/2013	Active	NO
17	U70109DL2006PTC153664	ENDURE REALTY PRIVATE LIMITED	Director	17/10/2007	17/10/2007	04/03/2014	Active	NO
18	U31501DL2007PTC169820	ADVANCED ELECTROMACH PRIVATE LIMITED	Director	24/10/2007	24/10/2007	-	Active	NO
19	U74899DL1977PTC008483	SOCIETA COFICA CHEMICALS INDIA PRIVATE LIMITED	Director	10/02/2008	10/02/2008	04/03/2014	Active	NO
20	U72200DL2005PTC132718	OMNIA TECHNOLOGIES PRIVATE LIMITED	Director	16/09/2009	03/10/2008	27/01/2011	Active	NO
21	U85195UR2008PTC032705	ADVANCE HOSPITALITY PRIVATE LIMITED	Director	10/10/2008	10/10/2008	-	Active	NO
22	U70100DL2010PTC207989	GALAXY MONNET INFRAHEIGHTS PRIVATE LIMITED	Director	08/09/2010	08/09/2010	-	Active	NO
23	U31908DL2007PTC162515	INTECH DIGITAL TECHNOLOGY (INDIA) PRIVATE LIMITED	Director	14/04/2011	14/04/2011	-	Active	NO
24	U45201UP1997PTC021516	HALWASIYA DEVELOPMENTS PRIVATE LIMITED	Additional director	12/08/2011	12/08/2011	18/11/2011	Active	NO
25	U74210DL2005PTC143293	SARANIL ENGINEERING PRIVATE LIMITED	Additional director	26/02/2014	26/02/2014	-	Active	NO
26	U72900DL2004PTC130737	ORBIT INFORMATICS PRIVATE LIMITED	Additional director	27/02/2014	27/02/2014	-	Active	NO

Name :

Mr. Pankaj Murarka

Designation :

Director

Address :

S-551, Greater Kailash, Part-2, New Delhi – 110048, India

Date of Birth/Age :

25.02.1967

Date of Appointment :

14.04.2011

DIN No.:

00090634

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	U29303DL1996PTC076584	ADVANCED APPLIANCES PVT. LTD.	Director	23/02/1996	23/02/1996	-	Active	NO
2	U29303DL1998PTC091653	EMKAY APPLIANCES PRIVATE LIMITED	Director	15/07/1998	15/07/1998	-	Active	NO
3	U31900DL2007PTC162234	GALAXY APPLIANCES PRIVATE LIMITED	Director	18/04/2007	18/04/2007	-	Active	NO
4	U31501DL2007PTC169820	ADVANCED ELECTROMACH PRIVATE LIMITED	Director	24/10/2007	24/10/2007	-	Active	NO
5	U31908DL2007PTC162515	INTECH DIGITAL TECHNOLOGY (INDIA) PRIVATE LIMITED	Director	14/04/2011	14/04/2011	-	Active	NO
6	U70100DL2010PTC207989	GALAXY MONNET INFRAHEIGHTS PRIVATE LIMITED	Additional director	28/02/2014	28/02/2014	-	Active	NO
7	U70101DL2006PTC144364	GRAPHIC PROMOTERS AND DEVELOPERS PRIVATE LIMITED	Additional director	28/02/2014	28/02/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Naresh N Tyagi
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 30.09.2013

Names of Shareholders	No. of Shares
Tarun Murarka	40000
Pankaj Murarka	40000
Emkay Appliances Private Limited, India	1840000
Sanjay Khurana	80000
Total	2000000

Equity Share Break up (Percentage of Total Equity)

AS ON: 30.09.2013

Category	Percentage
Bodies corporate	92.00
Directors or relatives of directors	4.00
Other top fifty shareholders	4.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading and Manufacturing of Electrical and Electrical Goods.

GENERAL INFORMATION

No. of Employees :

Information declined by the management.

Bankers :

· Axis Bank Limited, 4/10, OPG House, Asaf Ali Road, New Delhi - 110002, Delhi, India

· Indusind Bank Limited, Dr. Gopal Das Building, 28, Barakhamba Road, New Delhi - 110001, Delhi, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Term loans from Axis Bank [Secured by hypothecation of stock and mortgage of Building and Plant and machinery]	49.000	52.000
SHORT TERM BORROWINGS
from Axis Bank [Cash Credit Limit]	21.944	2.666
Total	70.944	54.666

Banking Relations :	--
Auditors :
Name :	Vinod K Agarwal and Company Chartered Accountants
Address :	201, South Ex Plaza, 389, Masjid Moth NDSE - II, Delhi – 110049, India
PAN No.:	AABFV8562F
Tel. No.:	91-11-26256363 / 26250719
Fax No.:	91-11-26261973
Email:	Vinod39@vsnl.com

CAPITAL STRUCTURE

AS ON: 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 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	20.000	20.000	0.150
(b) Reserves & Surplus	(8.524)	(2.376)	(0.074)
(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)	11.476	17.624	0.076
(3) Non-Current Liabilities
(a) long-term borrowings	126.244	95.122	14.464
(b) Deferred tax liabilities (Net)	4.057	1.679	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	130.301	96.801	14.464
(4) Current Liabilities
(a) Short term borrowings	21.944	2.666	0.000
(b) Trade payables	49.018	8.013	0.073
(c) Other current liabilities	4.402	8.919	5.442
(d) Short-term provisions	4.308	0.000	0.000
Total Current Liabilities (4)	79.672	19.598	5.515
TOTAL	221.449	134.023	20.055
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	123.874	111.347	19.928
(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	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.279	0.347	0.000
(e) Other Non-current assets	0.000	0.000	0.005
Total Non-Current Assets	125.153	111.694	19.933
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	56.635	3.874	0.000
(c) Trade receivables	22.597	0.004	0.000
(d) Cash and cash equivalents	3.486	0.415	0.022
(e) Short-term loans and advances	13.578	18.036	0.100
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	96.296	22.329	0.122
TOTAL	221.449	134.023	20.055

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	119.580	0.002	0.000
		Other Income
		TOTAL	119.580	0.002	0.000
Less	EXPENSES
		Office Expenses	123.349	0.625	0.012
		Administrative Expenses
		Advertising Expenses
		TOTAL	123.349	0.625	0.012
	PROFIT/ (LOSS) BEFORE TAX		(3.769)	(0.623)	(0.012)
Less	TAX		2.379	1.679	0.000
	PROFIT/ (LOSS) AFTER TAX		(6.148)	(2.302)	(0.012)
	Earnings / (Loss) Per Share (Rs.)		(3.07)	(2.73)	(0.78)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / TOTAL INCOME	(%)	(5.14)	(115100)	(0.00)
Return on Total Assets (PBT/Total Assets}	(%)	(1.70)	(0.46)	(0.06)
Return on Investment (ROI) (PBT/Networth)		(0.33)	(0.04)	(0.16)
Debt Equity Ratio (Total Liability/Networth)		12.91	5.55	190.32
Current Ratio (Current Asset/Current Liability)		1.21	1.14	0.02

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	0.150	20.000	20.000
Reserves & Surplus	(0.074)	(2.376)	(8.524)
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.076	17.624	11.476
long-term borrowings	14.464	95.122	126.244
Short term borrowings	0.000	2.666	21.944
Total borrowings	14.464	97.788	148.188
Debt/Equity ratio	190.316	5.549	12.913

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Total Income	0.000	0.002	119.580
			5,978,900.000

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Total Income	0.000	0.002	119.580
Profit After Tax	(0.012)	(2.302)	(6.148)
		(115100.00%)	(5.14%)

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	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	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	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

Note:

The Registered Office of the company has been shifted from M-21, Badli Industrial Area, Phase-I, Delhi – 110042, India to the present address w.e.f. 14.04.2011

UNSECURED LOAN

Particulars	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Unsecured Loan	77.244	43.122
Total	77.244	43.122

VIEW INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10478020	11/02/2014	355,900,000.00	INDUSIND BANK LTD.	DR. GOPAL DAS BUILDING,, 28, BARAKHAMBA ROAD, NEW  DELHI - 110001, INDIA	B96572995

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.59.88
UK Pound	1	Rs.100.68
Euro	1	Rs.82.40

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
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	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--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.