MIRA INFORM REPORT

Report Date :

13.11.2014

IDENTIFICATION DETAILS

Name :	RITURAJAGROTEK PRIVATE LIMITED
Registered Office :	Gandhi Chowk, Mahasamund, Raipur – 493445, Chhattisgarh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	06.01.2013
Com. Reg. No.:	018295
Capital Investment / Paid-up Capital :	Rs. 2.000 Millions
CIN No.: [Company Identification No.]	U01122CT2006PTC018295
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	To Carry on the business as cultivators, growers, farmers, farm plantations of all types of agricultural produces including food products, sericultural and horticultural products by applications of different agricultural methods and to manufacture, dispose of buy and deal in the said products or their different farms.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 16000
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited The rating takes into consideration company’s modest net worth and small scale of operations. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Not Available

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 31-03-2014.

INFORMATION DENIED

Not Available

LOCATIONS

Registered Office :	Gandhi Chowk, Mahasamund, Raipur – 493445, Chhattisgarh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	sahuanand25@yahoo.co.in

DIRECTORS

AS ON 30.09.2013

Name :

Mrs. Nirmala Devi Shrishrimal

Designation :

Director

Address :

C/o. Shri Dharam Chand Shrishrimal, Ghandhi Chowk, Mahasamund – 493445, Chhattisgarh, India

Date of Birth/Age :

10.05.1942

Date of Appointment :

16.01.2006

DIN No. :

00716949

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	U01122CT1991PTC006809	GEETANJALI AGRO PVT. LTD.	Director	18/02/2000	18/02/2000	-	Active	NO
2	U01122CT1991PTC006717	PRAGATI KRISHI PVT LTD	Director	18/08/2011	18/02/2000	-	Active	NO
3	U01122CT1991PTC006765	VAISHALI HORTICULTURE PVT LTD	Director	18/02/2000	18/02/2000	-	Active	NO
4	U01122CT2006PTC018295	RITURAJAGROTEK PRIVATE LIMITED	Director	16/01/2006	16/01/2006	-	Active	NO
5	U00112CT2006PTC018296	RISHIKA FARM PRIVATE LIMITED	Director	16/01/2006	16/01/2006	-	Active	NO
6	U51101CT2002PTC014941	RISHABH NUTRIENTS PRIVATE LIMITED	Director	03/08/2006	03/08/2006	-	Active	NO
7	U45200CT2009PTC021307	M. B. BUILDTECH PRIVATE LIMITED	Director	27/07/2009	27/07/2009	-	Active	NO

Name :

Mrs. Shweta Shrishrimal

Designation :

Director

Address :

C/o. Shri Dharam Chand Shrishrimal, Ghandhi Chowk, Mahasamund – 493445, Chhattisgarh, India

Date of Birth/Age :

25.02.1982

Date of Appointment :

16.01.2006

DIN No. :

00717036

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	U01122CT1991PTC006810	JAIN PLANTATION PVT.LTD.	Director	05/10/2000	05/10/2000	-	Active	NO
2	U01122CT1991PTC006717	PRAGATI KRISHI PVT LTD	Director	10/12/2001	10/12/2001	15/06/2009	Active	NO
3	U01122CT2006PTC018295	RITURAJAGROTEK PRIVATE LIMITED	Director	16/01/2006	16/01/2006	-	Active	NO
4	U00112CT2006PTC018296	RISHIKA FARM PRIVATE LIMITED	Director	16/01/2006	16/01/2006	-	Active	NO
5	U01122CT1991PTC006809	GEETANJALI AGRO PVT. LTD.	Additional director	01/08/2008	01/08/2008	-	Active	NO

Name :

Mr. Mangilal Golechha

Designation :

Director

Address :

Sadar Bazar, Raipur – 492001, Chhattidgarh, India

Date of Birth/Age :

08.06.1967

Date of Appointment :

30.09.2009

DIN No. :

02552179

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	U15143CT1995PTC009214	K.N.OIL INDUSTRIES Private Limited	Director	05/11/2007	05/11/2007	-	Active	NO
2	U01122CT2006PTC018295	RITURAJAGROTEK PRIVATE LIMITED	Director	30/09/2009	01/11/2008	-	Active	NO

Name :

Mr. Rishabh Shrishrimal

Designation :

Director

Address :

Ghandhi Chowk, Mahasamund – 493445, Chhattisgarh, India

Date of Birth/Age :

22.05.1990

Date of Appointment :

01.10.2010

DIN No. :

02660771

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	U72900MH2007PTC173419	AFRICA VIEW Private Limited	Director	02/04/2012	21/05/2009	-	Active	NO
2	U51900MH1999PTC120903	GAJSHAKTI AGROTECH PRIVATE LIMITED	Director	01/10/2009	01/10/2009	02/11/2009	Active	NO
3	U70100CT2010PTC021790	Orchard Realties Private Limited	Director	06/05/2010	06/05/2010	-	Active	NO
4	U01122CT2006PTC018295	RITURAJAGROTEK PRIVATE LIMITED	Director	01/10/2010	01/10/2010	-	Active	NO
5	U15400MH2011PTC213340	Exotic and Speciality Fats Private Limited	Director	11/02/2011	11/02/2011	21/06/2013	Active	NO
6	U01122CT1991PTC006717	PRAGATI KRISHI PVT LTD	Director	05/07/2011	05/07/2011	20/08/2011	Active	NO
7	U92490MH2011PTC220285	Encore Fitness Private Limited	Director	29/07/2011	29/07/2011	-	Active	NO
8	U15122MH2012PLC232222	T F Food Limited	Director	15/06/2012	15/06/2012	-	Active	NO
9	U74900MH2012PTC236622	Arabesque Mercantile Private Limited	Director	09/10/2012	09/10/2012	25/06/2013	Active	NO
10	U01403CT2013PTC000763	BALDAKACCHAR AGRICULTURE PROJECTS PRIVATE LIMITED	Director	21/03/2013	21/03/2013	18/10/2013	Active	NO
11	U01122CT2013PTC000772	BALDAKACCHAR HORTICULTURE PRIVATE LIMITED	Director	01/04/2013	01/04/2013	11/10/2013	Active	NO
12	U01403CT2013PTC000775	BALDAKACCHAR AGRI LAND DEVELOPERS PRIVATE LIMITED	Director	02/04/2013	02/04/2013	11/10/2013	Active	NO
13	U52397CT2013PTC000802	BALDAKACCHAR AGRO VENTURES PRIVATE LIMITED	Director	11/04/2013	11/04/2013	-	Active	NO
14	U52100MH2013PTC248911	VENDIMAN SNACKING SOLUTIONS PRIVATE LIMITED	Director	24/09/2014	28/11/2013	-	Active	NO
15	U93030MH2012PTC238917	ADDNECTAR SOLUTIONS PRIVATE LIMITED	Director	24/09/2014	10/06/2014	-	Active	NO

KEY EXECUTIVES

Not Available

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Nirmala Devi Jain	75000
Kavita Devi Jain	59000
Shweta Shrishrimal	65000
Rishabh Shrishrimal	1000
Total	200000

As on 30.09.2013

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 :	To Carry on the business as cultivators, growers, farmers, farm plantations of all types of agricultural produces including food products, sericultural and horticultural products by applications of different agricultural methods and to manufacture, dispose of buy and deal in the said products or their different farms.
Products :	Not available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Not Available
Purchasing :	Not Available

PRODUCTION STATUS - Not Available

GENERAL INFORMATION

Suppliers :	Not Available
Customers :	Not Available
No. of Employees :	Information declined by the management.
Bankers :	HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India Punjab National Bank, main Road, near Bus station, Mahasamund – 493445, Chhattisgarh, India
Facilities :	Not Available

Banking Relations :	--
Auditors :
Name :	T.R. Shah and Company Chartered Accountants
Address :	Office No. 28, 31/33, Khara Kuwa Building, 3^rd Floor, Shwikh Memon, Street, Mumbai -400002, Maharashtra, India
PAN No.:	ABIPS5557R
Entities on which KMP or his Relative exercise significant influence	Vaishali Horticulture Private Limited Jain Plantation Private Limited Rishika Farm Private Limited Pragati Krishi Private Limited Rishabh Nutrients Private Limited

CAPITAL STRUCTURE

As on 30.09.2013

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
200000	Equity Shares	Rs.10/- each	Rs.2.000 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	2.000	2.000	2.000
(b) Reserves & Surplus	3.693	3.357	3.051
(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)	5.693	5.357	5.051
(3) Non-Current Liabilities
(a) long-term borrowings	1.829	2.408	3.096
(b) Deferred tax liabilities (Net)	0.552	0.411	0.266
(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)	2.381	2.819	3.362
(4) Current Liabilities
(a) Short term borrowings	7.831	7.024	6.126
(b) Trade payables	0.094	1.337	2.167
(c) Other current liabilities	0.007	0.002	0.009
(d) Short-term provisions	0.202	0.168	0.225
Total Current Liabilities (4)	8.134	8.531	8.527
TOTAL	16.208	16.707	16.940
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.401	10.782	9.871
(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	0.113	0.086	0.086
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	10.514	10.868	9.957
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5.319	5.186	5.292
(c) Trade receivables	0.178	0.037	0.126
(d) Cash and cash equivalents	0.054	0.152	0.213
(e) Short-term loans and advances	0.120	0.439	1.197
(f) Other current assets	0.023	0.025	0.155
Total Current Assets	5.694	5.839	6.983
TOTAL	16.208	16.707	16.940

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income		27.343	20.198
	Other Income		0.238	0.248
	TOTAL	23.938	27.581	20.446
Less	EXPENSES
	Cost of Materials Consumed		21.326	16.061
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		1.400	0.679
	Employees benefits expense		0.377	0.349
	Other expenses		2.535	1.859
	TOTAL	23.345	25.638	18.948
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1.943	1.498
Less	FINANCIAL EXPENSES		0.874	0.489
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.069	1.009
Less/ Add	DEPRECIATION/ AMORTISATION		0.512	0.356
	PROFIT/ (LOSS) BEFORE TAX	0.593	0.557	0.653
Less	TAX	0.258	0.249	0.215
	PROFIT/ (LOSS) AFTER TAX	0.335	0.308	0.438
	Earnings / (Loss) Per Share (Rs.)	1.68	1.54	2.19

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin PAT / Sales	(%)	1.40	1.13	2.17
Operating Profit Margin (PBDIT/Sales)	(%)	NA	7.04	7.42
Return on Total Assets (PBT/Total Assets}	(%)	3.66	3.33	3.85
Return on Investment (ROI) (PBT/Networth)		0.10	0.10	0.13
Debt Equity Ratio (Total Debt /Networth)		1.70	1.76	1.83
Current Ratio (Current Asset/Current Liability)		0.70	0.68	0.82

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	2.000	2.000	2.000
Reserves & Surplus	3.051	3.357	3.693
Net worth	5.051	5.357	5.693
long-term borrowings	3.096	2.408	1.829
Short term borrowings	6.126	7.024	7.831
Total borrowings	9.222	9.432	9.660
Debt/Equity ratio	1.826	1.761	1.697

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	20.446	27.581	23.938
		34.897	(13.208)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	20.446	27.581	23.938
Profit	0.438	0.308	0.335
	2.14%	1.12%	1.40%

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	----------------------
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	Yes
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	No
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

VIEW INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10314171	16/12/2011 *	7,200,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B29604220

* Date of charge modification

CONTINGENT LIABILITIES:

Contingent liabilities are generally not provided for in the accounts and are shown separately in Notes on Accounts.

FIXED ASSETS

• Land
• Factory Building
• Plant and Machinery
• Tube Well
• Truck
• Computer
• 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 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. 61.47
UK Pound	1	Rs. 97.92
Euro	1	Rs. 76.78

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.