MIRA INFORM REPORT

Report Date :

28.10.2014

IDENTIFICATION DETAILS

Name :	INTEGRAL INDUSTRIES PRIVATE LIMITED

Registered Office :	15B, Chander Mukhi, Opposite INOX Theatre, Nariman Point, Mumbai – 400021, Maharashtra

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	03.09.2012

Com. Reg. No.:	11-235245

Capital Investment / Paid-up Capital :	Rs.0.100 Million

CIN No.: [Company Identification No.]	U74120MH2012PTC235245

Legal Form :	Private Limited Liability Company

Line of Business :	Trader of Steels.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Clear

Comments :	Even though the company was incorporated on 3^rd September, 2012, it has commenced its business operations from November 2013. It is having a moderate track record. Mr. Santosh provided very few information to us. As per available financial record of 2013, the company has incurred a huge pre-operating expenses which has resulted into huge accumulated loss recorded by the company. Business is active. Payments are reported to be slow. The company can be considered for business dealings on safe and secured trade terms and conditions.

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

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.

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 BY

Name :	Mr. Santosh
Designation :	Not Divulged
Contact No.:	91-22-4922900
Date :	27.10.2014

LOCATIONS

Registered Office :	15B, Chander Mukhi, Opposite INOX Theatre, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No. :	91-22-4922900 / 61799800
Fax No. :	Not Available
E-Mail :	rnvarya@gmail.com

DIRECTORS

As on 27.09.2013

Name :

Mr. Nakul Ravindrakumar Arya

Designation :

Director

Address :

6, Satlej Terrace, 6^th Floor, Walkeshwar Road, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

02.11.1980

Date of Appointment :

03.09.2012

DIN No. :

00372428

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	U35110MH2003PTC143122	N. T. RECYCLING COMPANY PRIVATE LIMITED	Managing director	14/11/03	14/11/03	-	Active	NO
2	U27100MH2004PTC147715	ARYA IRON AND STEEL COMPANY PRIVATE LIMITED	Director	27/07/04	27/07/04	-	Active	NO
3	U70109MH2007PTC166990	ARYA LANDSCAPE AND PROPERTY PRIVATE LIMITED	Director	12/01/07	12/01/07	-	Active	NO
4	U22210MH2008PTC182006	AMETHYST MULTIMEDIA COMPANY PRIVATE LIMITED	Director	08/05/08	08/05/08	25/08/14	Active	NO
5	U51420MH2008PTC179965	INTERNATIONAL MINERALS TRADING COMPANY PRIVATE LIMITED	Director	30/09/09	10/07/09	-	Active	NO
6	U65923MH2010PTC200498	PNV ENTERPRISES PRIVATE LIMITED	Director	26/02/10	26/02/10	-	Active	NO
7	U51909MH2010PTC200640	GOODWILL TRADECOM PRIVATE LIMITED	Director	08/03/10	08/03/10	-	Active	NO
8	U27100MH2010PTC202409	ARYA INTEGRATED STEEL PRIVATE LIMITED	Director	26/04/10	26/04/10	-	Active	NO
9	U27109MH2010PTC204325	ARYA MINES & METALS PRIVATE LIMITED	Director	16/06/10	16/06/10	-	Active	NO
10	U74990MH2010PTC205704	OFFSHORE ENTERPRISES PRIVATE LIMITED	Director	20/07/10	20/07/10	-	Active	NO
11	U74900MH2010PTC206607	BRIGHTSTAR ENTERPRISES PRIVATE LIMITED	Director	14/08/10	14/08/10	-	Active	NO
12	U74120MH2012PTC233808	RNV INDUSTRIES PRIVATE LIMITED	Director	25/07/12	25/07/12	-	Active	NO
13	U74120MH2012PTC235245	INTEGRAL INDUSTRIES PRIVATE LIMITED	Director	03/09/12	03/09/12	-	Active	NO
14	U74900MH2012PTC237742	ARYA VOYAGERS PRIVATE LIMITED	Director	08/11/12	08/11/12	-	Active	NO
15	U74120MH2013PTC244429	ARYA TANKERS PRIVATE LIMITED	Director	13/06/13	13/06/13	-	Active	NO
16	U27100MH2013PTC245628	ARYA GLOBAL STEELS PRIVATE LIMITED	Director	15/07/13	15/07/13	-	Active	NO
17	U74900MH2013PTC246584	ARYA NAUTICA PRIVATE LIMITED	Director	02/08/13	02/08/13	-	Active	NO
18	U74120MH2013PTC247075	ARYA CONSOLIDATED PRIVATE LIMITED	Director	16/08/13	16/08/13	22/09/14	Active	NO
19	U74120MH2013PTC247353	INDIANOCEAN SHIPPING PRIVATE LIMITED	Director	22/08/13	22/08/13	-	Active	NO
20	U72200MH2013PTC247628	MANSCHAFT IT PRIVATE LIMITED	Director	29/08/13	29/08/13	-	Active	NO
21	U74120MH2014PTC252723	DAWN SHIPPING PRIVATE LIMITED	Director	31/01/14	31/01/14	-	Active	NO
22	U27101CH2008PTC031161	Nachiketa Power & Steel Private Limited	Director	30/09/14	01/08/14	-	Active	NO
23	AAC-7865	ALLIANCE TRADE ENTERPRISE LLP	Designated Partner	07/10/14	07/10/14	-	Active	NO
24	AAB-7777	ARYA EXCELLENCY SERVICES LLP	Designated Partner	25/08/14	25/08/14	-	Active	NO

Name :

Mr. Ravi Maniram Arya

Designation :

Director

Address :

6, Satlej Terrace, 6^th Floor, Walkeshwar Road, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

12.10.1954

Date of Appointment :

03.09.2012

DIN No. :

00767007

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	U17120MH1974PLC017522	ORIENT NET LIMITED	Director	05/07/00	05/07/00	-	Active	NO
2	U37100MH2002PTC138164	M P RE-CYCLING COMPANY PRIVATE LIMITED	Managing director	07/12/02	07/12/02	-	Active	NO
3	U27100MH2004PTC147715	ARYA IRON AND STEEL COMPANY PRIVATE LIMITED	Director	30/11/13	01/01/08	-	Active	NO
4	U27105MH2008PTC179748	GOYAL RECYCLING COMPANY PRIVATE LIMITED	Director	05/03/08	05/03/08	-	Active	NO
5	U51420MH2008PTC179965	INTERNATIONAL MINERALS TRADING COMPANY PRIVATE LIMITED	Director	11/03/08	11/03/08	-	Active	NO
6	U22210MH2008PTC182006	AMETHYST MULTIMEDIA COMPANY PRIVATE LIMITED	Director	08/05/08	08/05/08	30/09/08	Active	NO
7	U67120MH2008PTC183600	BAIJNATH MANIRAM HOLDING & FINANCE CO. PRIVATE LIMITED	Director	17/06/08	17/06/08	-	Active	NO
8	U65923MH2010PTC200498	PNV ENTERPRISES PRIVATE LIMITED	Director	26/02/10	26/02/10	-	Active	NO
9	U51909MH2010PTC200640	GOODWILL TRADECOM PRIVATE LIMITED	Director	08/03/10	08/03/10	-	Active	NO
10	U27100MH2010PTC202409	ARYA INTEGRATED STEEL PRIVATE LIMITED	Director	28/09/11	04/07/11	-	Active	NO
11	U27109MH2010PTC204325	ARYA MINES & METALS PRIVATE LIMITED	Director	28/09/11	04/07/11	-	Active	NO
12	U15130MH2004PTC144702	KASH FOODS PRIVATE LIMITED	Director	29/09/12	01/03/12	-	Active	NO
13	U74999MH1968PTC014027	ELECTRON HOUSE PRIVATE LIMITED	Director	29/09/12	01/03/12	-	Active	NO
14	U74120MH2012PTC233808	RNV INDUSTRIES PRIVATE LIMITED	Director	25/07/12	25/07/12	-	Active	NO
15	U74120MH2012PTC235245	INTEGRAL INDUSTRIES PRIVATE LIMITED	Director	03/09/12	03/09/12	-	Active	NO
16	U74900MH2012PTC237742	ARYA VOYAGERS PRIVATE LIMITED	Director	08/11/12	08/11/12	-	Active	NO
17	U74120MH2013PTC244429	ARYA TANKERS PRIVATE LIMITED	Director	13/06/13	13/06/13	-	Active	NO
18	U27100MH2013PTC245628	ARYA GLOBAL STEELS PRIVATE LIMITED	Director	15/07/13	15/07/13	22/09/14	Active	NO
19	U74900MH2013PTC246584	ARYA NAUTICA PRIVATE LIMITED	Director	02/08/13	02/08/13	-	Active	NO
20	U74120MH2013PTC247075	ARYA CONSOLIDATED PRIVATE LIMITED	Director	16/08/13	16/08/13	-	Active	NO
21	U74120MH2013PTC247353	INDIANOCEAN SHIPPING PRIVATE LIMITED	Director	22/08/13	22/08/13	-	Active	NO
22	U74120MH2014PTC252723	DAWN SHIPPING PRIVATE LIMITED	Director	31/01/14	31/01/14	14/07/14	Active	NO
23	U27101CH2008PTC031161	Nachiketa Power & Steel Private Limited	Director	30/09/14	18/09/14	-	Active	NO
24	AAB-7508	ARYA PRUDENT SERVICES LLP	Designated Partner	06/09/13	06/09/13	-	Active	NO
25	AAB-7776	ALLIANCE VISION SERVICES LLP	Designated Partner	20/09/13	20/09/13	-	Active	NO
26	AAC-7865	ALLIANCE TRADE ENTERPRISE LLP	Designated Partner	07/10/14	07/10/14	-	Active	NO
27	AAC-8017	RACOON TRADING SERVICES LLP	Designated Partner	10/10/14	10/10/14	-	Active	NO
28	AAB-7777	ARYA EXCELLENCY SERVICES LLP	Designated Partner	25/08/14	25/08/14	-	Active	NO

Name :

Mr. Varun Ravindrakumar Arya

Designation :

Director

Address :

6, Satlej Terrace, 6^th Floor, Walkeshwar Road, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

02.04.1984

Date of Appointment :

03.09.2012

DIN No. :

02684049

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	U37100MH2002PTC138164	M P RE-CYCLING COMPANY PRIVATE LIMITED	Whole-time director	01/02/10	01/02/10	-	Active	NO
2	U74120MH2012PTC233808	RNV INDUSTRIES PRIVATE LIMITED	Director	25/07/12	25/07/12	-	Active	NO
3	U74120MH2012PTC235245	INTEGRAL INDUSTRIES PRIVATE LIMITED	Director	03/09/12	03/09/12	-	Active	NO
4	U74900MH2012PTC237742	ARYA VOYAGERS PRIVATE LIMITED	Director	08/11/12	08/11/12	-	Active	NO
5	U74120MH2013PTC244429	ARYA TANKERS PRIVATE LIMITED	Director	13/06/13	13/06/13	-	Active	NO
6	U27100MH2013PTC245628	ARYA GLOBAL STEELS PRIVATE LIMITED	Director	15/07/13	15/07/13	-	Active	NO
7	U74900MH2013PTC246584	ARYA NAUTICA PRIVATE LIMITED	Director	02/08/13	02/08/13	-	Active	NO
8	U74120MH2013PTC247075	ARYA CONSOLIDATED PRIVATE LIMITED	Director	16/08/13	16/08/13	-	Active	NO
9	U74120MH2013PTC247353	INDIANOCEAN SHIPPING PRIVATE LIMITED	Director	22/08/13	22/08/13	-	Active	NO
10	U74120MH2014PTC252723	DAWN SHIPPING PRIVATE LIMITED	Director	31/01/14	31/01/14	-	Active	NO
11	U72200MH2013PTC247628	MANSCHAFT IT PRIVATE LIMITED	Director	26/06/14	26/06/14	-	Active	NO
12	U22210MH2008PTC182006	AMETHYST MULTIMEDIA COMPANY PRIVATE LIMITED	Director	11/08/14	11/08/14	-	Active	NO
13	AAB-7508	ARYA PRUDENT SERVICES LLP	Designated Partner	06/09/13	06/09/13	-	Active	NO
14	AAB-7776	ALLIANCE VISION SERVICES LLP	Designated Partner	20/09/13	20/09/13	-	Active	NO
15	AAB-7777	ARYA EXCELLENCY SERVICES LLP	Designated Partner	20/09/13	20/09/13	-	Active	NO
16	AAC-7865	ALLIANCE TRADE ENTERPRISE LLP	Designated Partner	07/10/14	07/10/14	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2013

Names of Shareholders	No. of Shares	%age
Ravi Maniram Arya	3334	33.34
Nakul Ravindrakumar Arya	3333	33.33
Varun Ravindrakumar Arya	3333	33.33

Total	10000	100.00

As on 27.09.2013

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 :

Trader of Steels.

GENERAL INFORMATION

No. of Employees :	Not Divulged

Bankers :	Indian Overseas Bank, Fort Branch, Tamarind House, 30 & 32 Tamarind Lane, Mumbai - 400023, Maharashtra, India

Banking Relations :	--

Auditors :
Name :	SGCO and Company Chartered Accountants
Address :	4A, Kaledonia-HDIL, 2^nd Floor, Sahar Road, Near Andheri Station, Andheri (East), Mumbai – 400069, Maharashtra, India
Tel. No. :	91-22-66256363
Fax No. :	91-22-66256364
E-Mail :	info@sgco.co.in
Website :	www.sgco.co.in
PAN No. :	AAAFS7106D

CAPITAL STRUCTURE

After 27.09.2013

Authorised Capital : Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital : 30.000 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS			31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital			0.100
(b) Reserves & Surplus			(0.920)
(c) Money received against share warrants			0.000

(2) Share Application money pending allotment			0.000
Total Shareholders’ Funds (1) + (2)			(0.820)

(3) Non-Current Liabilities
(a) long-term borrowings			0.000
(b) Deferred tax liabilities (Net)			0.000
(c) Other long term liabilities			0.000
(d) long-term provisions			0.000
Total Non-current Liabilities (3)			0.000

(4) Current Liabilities
(a) Short term borrowings			1.112
(b) Trade payables			0.000
(c) Other current liabilities			0.056
(d) Short-term provisions			0.000
Total Current Liabilities (4)			1.168

TOTAL			0.348

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets			0.000
(ii) Intangible Assets			0.000
(iii) Capital work-in-progress			0.000
(iv) Intangible assets under development			0.000
(b) Non-current Investments			0.000
(c) Deferred tax assets (net)			0.000
(d) Long-term Loan and Advances			0.025
(e) Other Non-current assets			0.000
Total Non-Current Assets			0.025

(2) Current assets
(a) Current investments			0.000
(b) Inventories			0.000
(c) Trade receivables			0.000
(d) Cash and cash equivalents			0.000
(e) Short-term loans and advances			0.323
(f) Other current assets			0.000
Total Current Assets			0.323

TOTAL			0.348

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013
	SALES
		Income	0.000
		Other Income	0.000
		TOTAL	0.000

Less	EXPENSES
		Other expenses	0.918
		TOTAL	0.918

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.918)

Less	FINANCIAL EXPENSES		0.002

	PROFIT/ (LOSS) BEFORE TAX		(0.920)

Less	TAX		NA

	PROFIT/ (LOSS) AFTER TAX		NA

	Earnings / (Loss) Per Share (Rs.)		(159.92)

KEY RATIOS

PARTICULARS		31.03.2013
Return on Total Assets (PBT/Total Assets}	(%)	(264.37)

Return on Investment (ROI) (PBT/Networth)		1.12

Debt Equity Ratio (Total Debt/Networth)		(1.36)

Current Ratio (Current Asset/Current Liability)		0.28

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	No
11]	Turnover of firm for last one year	Yes
12]	Profitability for last one year	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

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
Loans from related parties repayable on demand	1.112

Total	1.112

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10433952	06/06/2013	600,000,000.00	Indian Overseas Bank	FORT BRANCH, TAMARIND HOUSE, 30 & 32 TAMARIND LANE, MUMBAI, Maharashtra - 400023, INDIA	B78329323

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.61.23
UK Pound	1	Rs.98.53
Euro	1	Rs.77.75

INFORMATION DETAILS

Information Gathered by :	HTL

Analysis Done by :	KAR

Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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		11

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.

MIRA INFORM REPORT

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