MIRA INFORM REPORT

Report Date :

25.09.2014

IDENTIFICATION DETAILS

Name :	TOTAL CBM SOLUTIONS INDIA PRIVATE LIMITED
Registered Office :	1952 Pilanji, Kotla Mubarakpur, New Delhi – 110003
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	20.04.2004
Com. Reg. No.:	55-125897
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U74140DL2004PTC125897
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Consultancy and Services in the Field of Petroleum Gases and Coal Sector
No. of Employees :	7 (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 31000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The company has incurred a loss from its operation during 2013. However, trade relations are reported as fair. Business is active. Payment term 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.

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Raju
Designation :	Account Executive
Contact No.:	91-33-24236787
Date :	19.09.2014

LOCATIONS

Registered Office :	1952 Pilanji, Kotla Mubarakpur, New Delhi – 110003, India
Tel. No. :	91-11-41767399
Fax No. :	Not Available
Mobile No. :	91-9899279391 (B. Akala)
E-Mail :	info@totalcbm.com
Testing Lab :	147, 1^st Floor, Jodhpur Park, Kolkata – 700068, West Bengal, India
Tel. No. :	91-33-24236787

DIRECTORS

As on 28.08.2013

Name :

Mr. Balaswanmy Akala

Designation :

Managing Director

Address :

4/17, First Main Road, Ghandhi Nagar, Adyar, Chennai – 600020, India

Date of Appointment :

20.04.2004

DIN No. :

01166874

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	U74999TN2003PTC050674	VALUE PLUS MINING SOLUTIONS PRIVATE LIMITED	Managing director	09/04/2003	09/04/2003	-	Active	NO
2	U74140DL2004PTC125897	TOTAL CBM SOLUTIONS INDIA PRIVATE LIMITED	Director	20/04/2004	20/04/2004	-	Active	NO
3	U74210OR2005PTC008044	QUALITY MINING SOLUTIONS PRIVATE LIMITED	Director	01/03/2005	01/03/2005	-	Active	NO
4	U74120DL2008PLC172147	GEO DRILLING LIMITED	Director	02/01/2008	02/01/2008	-	Active	NO
5	U45201DL1996PTC081807	YUG PROPERTIES PRIVATE LIMITED	Director	25/05/2009	25/05/2009	-	Active	NO

Name :

Mr. Pratap Singh Nagar

Designation :

Director

Address :

1952 Pilanji, Kotla Mubarakpur, New Delhi – 110003, India

Date of Appointment :

20.04.2004

DIN No. :

00603057

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	U51433DL2003PTC123018	PVR MARKETING PRIVATE LIMITED	Director	11/11/2003	11/11/2003	-	Strike off	NO
2	U74140DL2004PTC125897	TOTAL CBM SOLUTIONS INDIA PRIVATE LIMITED	Director	20/04/2004	20/04/2004	-	Active	NO
3	U70102DL2005PTC136604	YUG PROPMART PRIVATE LIMITED	Director	15/06/2007	15/06/2007	-	Active	NO
4	U74120DL2008PLC172147	GEO DRILLING LIMITED	Director	02/01/2008	02/01/2008	-	Active	NO
5	U45200DL2008PTC179305	NEEV PROPMART PRIVATE LIMITED	Director	10/06/2008	10/06/2008	05/01/2011	Active	NO
6	U45200DL2009PTC187628	DIVYA PROJECTS PRIVATE LIMITED	Director	16/02/2009	16/02/2009	-	Active	NO
7	U45201DL1996PTC081807	YUG PROPERTIES PRIVATE LIMITED	Director	25/05/2009	25/05/2009	-	Active	NO
8	U74900TN2013PTC090827	Creative Cinema Private Limited	Director	29/04/2013	29/04/2013	-	Active	NO
9	U74999TN2013PTC090863	Tinacca Media Private Limited	Director	30/04/2013	30/04/2013	-	Active	NO

Name :

Mr. M.P Narayana

Designation :

Director

Address :

AL – 214, 14^th Main, Anna Nagar West, Chennai – 600041, India

Date of Appointment :

20.04.2004

DIN No. :

00889041

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	U74140DL2004PTC125897	TOTAL CBM SOLUTIONS INDIA PRIVATE LIMITED	Director	20/04/2004	20/04/2004	-	Active	NO
2	U72900DL1999PTC100771	GEOSPATIAL MEDIA AND COMMUNICATIONS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO
3	U50200WB2003PLC096006	URAL INDIA LIMITED	Director	02/11/2009	02/11/2009	01/04/2013	Active	NO
4	U10100DL2011PTC226689	FJS ENERGY PRIVATE LIMITED	Director	01/11/2011	01/11/2011	-	Active	NO

Name :

Mr. Surinder Kumar Puri

Designation :

Director

Address :

B – 7/77/1 Safdarjung Enclave, New Delhi – 110029, India

Date of Appointment :

20.04.2014

DIN No. :

00600655

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	U74140DL2004PTC125897	TOTAL CBM SOLUTIONS INDIA PRIVATE LIMITED	Director	20/04/2004	20/04/2004	-	Active	NO
2	U74140DL2008PTC176580	IMS CONSULTANTS PRIVATE LIMITED	Director	10/04/2008	10/04/2008	-	Active	YES

Name :

Mr. Shaik Rehman Ali

Designation :

Director

Address :

Aafreen Cottage, B – 177, Freedom Fighter:S Enclave Ignou Road, Neb Sarai, New Delhi – 110068.

Date of Appointment :

16.09.2004

DIN No. :

00602481

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	U74140DL2004PTC125897	TOTAL CBM SOLUTIONS INDIA PRIVATE LIMITED	Director	16/09/2004	16/09/2004	-	Active	NO
2	U74210OR2005PTC008044	QUALITY MINING SOLUTIONS PRIVATE LIMITED	Director	01/03/2005	01/03/2005	-	Active	NO
3	U74999TN2003PTC050674	VALUE PLUS MINING SOLUTIONS PRIVATE LIMITED	Director	29/09/2005	29/09/2005	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Raju
Designation :	Account Executive

MAJOR SHAREHOLDERS

As on 28.08.2013

Names of Shareholders	No. of Shares	% Holding
Mr. Balaswanmy Akala	50000	50.00
Mr. Pratap Singh Nagar	25000	25.00
Mr. M.P Narayana	5000	5.00
Mr. Surinder Kumar Puri	5000	5.00
Mr. Shaik Rehman Ali	15000	15.00
Total	100000	100.00

As on 28.08.2013

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 :	Providing Consultancy and Services in the Field of Petroleum Gases and Coal Sector
Services :	· CBM / CMM Project Evaluation · Field Desorption Studies · Adsorption Isotherm Studies · Lab Analyses · Well Site Services · Training and Development
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Others

No. of Employees :

7 (Approximately)

Bankers :

Bank of Maharashtra, Vasant Kunj, Delhi – 110003, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Deferred Payment Liabilities
HDFC BANK (Bolerp Car Loan A/C)	0.248	0.406
HDFC BANK Limited. (Acent Car Loan A/C)	0.025	0.167
HDFC BANK (Tata 407)	0.433	0.561
Total	0.706	1.134

Banking Relations :	--
Auditors :
Name :	VSD and Associates Chartered Accountants
Address :	202 – 203, Vardhman Tower, Preet Vihar Community Centre, Delhi – 110092, India
Tel. No. :	91-11-22459811 /65970383
E-Mail :	rastogica@gmail.com rastogi_2005@yahoo.com
PAN No. :	AAEFV5670P

CAPITAL STRUCTURE

As on 28.08.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

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	1.000	1.000	1.000
(b) Reserves & Surplus	6.467	7.139	5.071
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.200	0.200	0.200
Total Shareholders’ Funds (1) + (2)	7.667	8.339	6.271
(3) Non-Current Liabilities
(a) long-term borrowings	0.836	1.265	0.475
(b) Deferred tax liabilities (Net)	0.000	0.000	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)	0.836	1.265	0.475
(4) Current Liabilities	0.000	0.000	0.000
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	2.126	2.636	3.887
(c) Other current liabilities	2.223	4.139	2.891
(d) Short-term provisions	0.000	0.950	0.850
Total Current Liabilities (4)	4.349	7.725	7.628
TOTAL	12.852	17.329	14.374
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.851	3.767	2.703
(ii) Intangible Assets	0.000	0.000	0.010
(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	0.025	0.025	0.025
(c) Deferred tax assets (net)	0.442	0.069	0.044
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3.318	3.861	2.782
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	2.466	6.578	3.822
(d) Cash and cash equivalents	3.986	3.142	4.159
(e) Short-term loans and advances	3.082	3.742	0.032
(f) Other current assets	0.000	0.006	3.579
Total Current Assets	9.534	13.468	11.592
TOTAL	12.852	17.329	14.374

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	10.363	16.624	13.608
		Other Income	0.000	0.000	0.071
		TOTAL	10.363	16.745	13.679
Less	EXPENSES
		Consultancy Charges Paid	0.000	0.000	1.133
		Consumable Goods	0.000	0.000	0.155
		Preliminary Expense Written Off	0.000	0.000	0.003
		Employees Benefits Expense	2.312	2.749	2.485
		Administrative Expense and Other Expense	8.044	10.064	6.573
		TOTAL	10.356	12.813	10.349
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.007	3.932	3.330
Less	FINANCIAL EXPENSES		0.135	0.116	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.128)	3.816	3.330
Less/ Add	DEPRECIATION/ AMORTISATION		0.916	0.818	0.572
	PROFIT/ (LOSS) BEFORE TAX		(1.044)	2.998	2.758
Less	TAX		(0.372)	0.930	0.951
	PROFIT/ (LOSS) AFTER TAX		(0.672)	2.068	1.807
	Earnings / (Loss) Per Share (Rs.)		(6.72)	20.68	27.58

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(6.48)	12.35	13.21
Net Profit Margin (PBT/Sales)	(%)	(0.07)	18.03	20.27
Return on Total Assets (PBT/Total Assets}	(%)	(8.43)	17.39	19.28
Return on Investment (ROI) (PBT/Networth)		(0.14)	0.36	0.44
Debt Equity Ratio (Total Debt/Networth)		0.11	0.15	0.08
Current Ratio (Current Asset/Current Liability)		2.19	1.74	1.52

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	1.000	1.000	1.000
Share Application Money Pending Allotment	0.200	0.200	0.200
Reserves & Surplus	5.071	7.139	6.467
Net worth	6.271	8.339	7.667
long-term borrowings	0.475	1.265	0.836
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.475	1.265	0.836
Debt/Equity ratio	0.076	0.152	0.109

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)
Sales	13.608	16.624	10.363
		22.163	(37.662)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	13.608	16.624	10.363
Profit	1.807	2.068	(0.672)
	13.28%	12.44%	(6.48%)

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 three years	No
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	Yes
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	No
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

COMPANY INFORMATION:

Company Has Been Incorporated On 20^th April Vide Registration No. U74140DL2004PTC125897

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Other Loans And Advance	0.130	0.130
- Sarjeet Singh Yadav
Total	0.130	0.130

NO INDEX OF CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

· Air Conditioner

· Computer

· Car

· Furniture and Fixture

· Refrigerator

· Generator Set

· Inverter

· Lab Equipments

· Mobile Lab

· Electronic Balances

· Motor Cycle

· Office Equipments

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.61.02
UK Pound	1	Rs.99.99
Euro	1	Rs.78.37

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	RAS
Report Prepared by :	ANU

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	3
--RESERVES	1~10	4
--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		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.