MIRA INFORM REPORT

Report Date :

24.11.2014

IDENTIFICATION DETAILS

Name :	INTERSCAN RECYPA EUROPE GMBH
Registered Office :	Waidmannstr. 16 D 22769 Hamburg
Country :	Germany
Financials (as on) :	31.12.2012
Date of Incorporation :	26.06.1991
Legal Form :	Private Limited Company
Line of Business :	· Agents involved in the sale of iron, metal and plastic Goods · Agents involved in the sale of other goods · Non-specialized wholesale of raw materials and half-finished and finished goods
No. of Employees :	03

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Small Company
Payment Behaviour :	No complaints
Litigation :	Clear

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)
Germany	A1	A1

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

GERMANY - ECONOMIC OVERVIEW

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, has contributed to strong growth and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 5.3% in 2013. The new German government introduced a minimum wage of $11 per hour to take effect in 2015. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in 2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production

Source : CIA

Company name and address

INTERSCAN RECYPA EUROPE GMBH

Company Status: active

Waidmannstr. 16

D 22769 Hamburg

Telephone:040/85470

CONCLUSION

Business relations are permissible.

Company summary

LEGAL FORM Private limited company

Date of foundation: 26.06.1991

Shareholders'

agreement: 26.06.1991

Registered on: 29.08.1991

Commercial Register: Local court 20355 Hamburg

under: HRB 48054

Share capital: EUR 30,000.00

Shareholder:

Melosch Export GmbH

Waidmannstr. 16

D 22769 Hamburg

Legal form: Private limited company

Share capital: EUR 400,000.00

Share: EUR 30,000.00

Registered on: 12.12.2007

Reg. data: 20355 Hamburg, HRB 103528

Manager:

Ines Huber

D 21439 Marxen

born: 26.01.1963

Profession: Businessman

Proxy:

Dennis Robert Bär

D 21465 Wentorf

authorized to jointly represent the company

born: 22.06.1979

Further functions/participations of Ines Huber (Manager)

Proxy:

Kommanditgesellschaft Ludwig Melosch

Vertriebs-GmbH & Co.

Kornkamp 18

D 22926 Ahrensburg

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap. EUR 2,000,000.00

contribution:

Registered

on: 21.08.1980

Reg. data: 23568 Lübeck, HRA 2497 AH

Proxy:

MAMMUT - Dokumentenservice Verwaltungs-GmbH

Colonnaden 72

D 20354 Hamburg

Legal form: Private limited company

Share capital: EUR 30,000.00

Registered

on: 28.08.1991

Reg. data: 20355 Hamburg, HRB 48040

Proxy:

Melosch Export GmbH

Waidmannstr. 16

D 22769 Hamburg

Legal form: Private limited company

Share capital: EUR 400,000.00

Registered

on: 12.12.2007

Reg. data: 20355 Hamburg, HRB 103528

Proxy:

LMV Hanseatisches Wertstoff Kontor GmbH

Waidmannstr. 16

D 22769 Hamburg

Legal form: Private limited company

Share capital: EUR 30,000.00

Registered

on: 13.02.1997

Reg. data: 20355 Hamburg, HRB 63477

Proxy:

LMV Pulp Substitutes GmbH & Co. KG

Waidmannstr. 16

D 22769 Hamburg

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap. EUR 50,000.00

contribution:

Registered

on: 15.01.2014

Reg. data: 20355 Hamburg, HRA 117061

Proxy:

Melosch Rohstoff Service GmbH & Co. KG

Waidmannstr. 16

D 22769 Hamburg

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap. EUR 250,000.00

contribution:

Registered

on: 27.02.2006

Reg. data: 20355 Hamburg, HRA 103556

Liquidator:

Melosch Export Verwaltungs-GmbH

Waidmannstr. 16

D 22769 Hamburg

Legal form: Private limited company in

liquidation

Share capital: EUR 26,000.00

Registered

on: 23.02.1998

Reg. data: 20355 Hamburg, HRB 66659

COMPANY HISTORY

29.08.1991 - 11.01.2010 INTERSCAN Vertriebsgesellschaft für

Secundärrohstoffe mbH

Waidmannstr. 16

D 22769 Hamburg

Private limited company

RESIGNED ACTING PERSONS AND SHAREHOLDERS

08.12.2011 - 06.08.2013 Manager

Craig Nicholas Robinson

GB Hoole, Chester

16.03.2010 - 08.12.2011 Manager

Simon Walker

GB - Stockport, Cheshire SK6 7RQ

BUSINESS ACTIVITIES

Sectors

46154 Agents involved in the sale of iron, metal and plastic goods n.e.c.

46189 Agents involved in the sale of other goods n.e.c.

4677 Wholesale of waste and scrap

46902 Non-specialized wholesale of raw materials and half-finished and finished goods

FINANCIAL INFORMATION

Payment experience: within periods customary in this trade

Negative information:We have no negative information at hand.

BALANCE SHEET YEAR: 2012

The depth of balance sheet suggests that the company, as a

so-called micro-entity in accordance with art. 267a German

Commercial Code, has availed itself of the facilitations of the

German Micro-Entities Amending Account Law (MicBilG) This is why

it is possible that the resultant reduction of the depth of

presentation in the annual accounts may entail deviating

calculation methods of the respective balance sheet ratios and

thus to an altered Solvency Rating [NG] and/or balance sheet

grade.

REAL ESTATE

Type of ownership: Tenant

Address Waidmannstr. 16

D 22769 Hamburg

Land register documents were not available.

BANKERS

A bank connection is unknown.

FINANCIAL FIGURES

Turnover: 2013 *EUR 633,500.00

Equipment: *EUR 28,500.00

Ac/ts receivable: *EUR 68,000.00

Liabilities: EUR 47,225.00

Employees: 3

The business figures marked with an asterisk are estimates based on average values in the line of business.

BALANCE SHEETS

Balance sheet ratios 01.01.2012 - 31.12.2012(1)

Equity ratio [%]: 97.95

Liquidity ratio: 10.00

Balance sheet ratios 01.01.2011 - 31.12.2011

Equity ratio [%]: 88.46

Liquidity ratio: 10.00

Balance sheet ratios 01.01.2010 - 31.12.2010

Equity ratio [%]: 98.75

Liquidity ratio: 10.00

Balance sheet ratios 01.01.2009 - 31.12.2009

Equity ratio [%]: -15.08

Liquidity ratio: 0.87

(1) The depth of balance sheet suggests that the company, as a

so-called micro-entity in accordance with art. 267a German

Commercial Code, has availed itself of the facilitations of the

German Micro-Entities Amending Account Law (MicBilG) This is why

it is possible that the resultant reduction of the depth of

presentation in the annual accounts may entail deviating

calculation methods of the respective balance sheet ratios and

thus to an altered Solvency Rating [NG] and/or balance sheet

grade.

Equity ratio

The equity ratio indicates the portion of the equity as compared

to the total capital. The higher the equity ratio, the better the

economic stability (solvency) and thus the financial autonomy of

a company.

Liquidity ratio

The liquidity ratio shows the proportion between adjusted

receivables and net liabilities. The higher the ratio, the lower

the company's financial dependancy from external creditors.

TYPE OF BALANCE SHEET: MICRO BALANCE SHEET

FINANCIAL YEAR: 01.01.2012 - 31.12.2012 (2)

ASSETS EUR 78,100.37

Current assets EUR 78,100.37

Accounts receivable EUR 0.00

thereof total due from shareholders EUR 3,013.58

LIABILITIES EUR 78,100.37

Shareholders' equity EUR 30,000.00

Provisions EUR 875.00

Liabilities EUR 47,225.37

thereof total due to shareholders EUR 46,564.62

TYPE OF BALANCE SHEET: COMPANY BALANCE SHEET

FINANCIAL YEAR: 01.01.2011 - 31.12.2011

ASSETS EUR 128,684.61

Current assets EUR 128,684.61

Accounts receivable EUR 114,233.04

Other debtors and assets EUR 114,233.04

Liquid means EUR 14,451.57

LIABILITIES EUR 128,684.61

Shareholders' equity EUR 30,000.00

Capital EUR 30,000.00

Subscribed capital (share capital) EUR 30,000.00

Provisions EUR 1,200.00

Liabilities EUR 97,484.61

Other liabilities EUR 97,484.61

Unspecified other liabilities EUR 97,484.61

(2) The abbreviated depth of presentation of the annual accounts

may be atributed to application of regulations within the German

Micro-Entities Amending Accounting Law.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.85
UK Pound	1	Rs.97.01
Euro	1	Rs.77.62

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIS

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	--

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%)

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.