MIRA INFORM REPORT

Report No. :	335465
Report Date :	07.08.2015

IDENTIFICATION DETAILS

Name :	ELEGANT DYEING AND PROCESSING LIMITED (w.e.f. 04.04.1997)
Formerly known as :	ELEGANT DYEING AND PROCESSING PRIVATE LIMITED
Registered Office :	507, Express Tower, Commercial Complex, Azadpur, New Delhi - 110033
Tel. No.:	91-124-4566500 / 373169/373171/6373176/6
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	21.04.1994
Com. Reg. No.:	55-058525
Capital Investment / Paid-up Capital :	Rs. 24.250 Million
CIN No.: [Company Identification No.]	U74899DL1994PLC058525
IEC No.:	0594047137
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACE2110
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of Cotton Knitting Dyed Fabric.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (37)

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

Maximum Credit Limit :	USD 1600000
Status :	Moderate
Payment Behavior :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The overall financial performance of the company has improved by earning profit in 2014 as against to the loss incurred in the last year. The company has above average operating efficiencies with moderate networth and low debt protection metrics. However, trade relations are reported as fair. Business is active. Payment terms are reported as 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2013.

INFORMATION DENIED BY

Name :	Mr. M. Gaurav
Designation :	Accounts Manager
Contact No.:	91-124-4566527
Date :	04.08.2015

LOCATIONS

Registered Office :	507, Express Tower, Commercial Complex, Azadpur, New Delhi-110033, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	aac_firm@yahoo.in info@elegantoverseas.com
Factory :	38th Milestone, Jaipur Highway, Phase – VII, Village Khandsa, Behrampur Road, Gurgaon -122001, Haryana, India
Tel. No.:	91-124-4566500 / 373169/373171/6373176/6
Fax No.:	91-124-4566510

DIRECTORS

AS ON 29.09.2014

Name :

Ashok Singhal

Designation :

Director

Address :

B-2/19, Ashok Vihar, Phase-Ii, New Delhi, 110052, India

Date of Birth/Age :

21.02.1956

Date of Appointment :

21.04.1994

DIN No.:

00096566

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	U74899DL1994PLC058525	ELEGANT DYEING AND PROCESSING LIMITED	Director	21/04/1994	21/04/1994	-	Active	NO
2	U74899DL1989PTC034899	TEXPRO TEXTILES INDIA PRIVATE LTD	Director	20/10/2004	20/10/2004	02/11/2011	Active	NO

Name :

Amit Gupta

Designation :

Director

Address :

B-764,, Sushant Lok-I, Gurgaon, 122002, Haryana, India

Date of Birth/Age :

20.03.1974

Date of Appointment :

06.05.1994

DIN No.:

00097028

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	U74899DL1994PLC058525	ELEGANT DYEING AND PROCESSING LIMITED	Director	06/05/1994	06/05/1994	-	Active	NO
2	U74899DL1989PTC034899	TEXPRO TEXTILES INDIA PRIVATE LTD	Director	20/10/2004	20/10/2004	02/11/2011	Active	NO

Name :

Vinod Kumar Jindal

Designation :

Director

Address :

F-73, F-Block (Main Road Houses), Poorvi Marg Vasant Kunj, Delhi-110057, India

Date of Birth/Age :

20.07.1959

Date of Appointment :

21.04.1994

DIN No.:

00728279

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	U74899DL1984PTC019574	UNIQUE ALLOYS PVT LTD	Director	14/12/1984	14/12/1984	27/05/2009	Active	NO
2	U74899DL1994PLC058525	ELEGANT DYEING AND PROCESSING LIMITED	Director	21/04/1994	21/04/1994	-	Active	NO
3	U18101DL2004PTC124843	PRECISE SEAMLESS APPARELS PRIVATE LIMITED	Director	25/02/2004	25/02/2004	-	Active	NO
4	U70101DL2005PTC133882	PARADISE REALCON PRIVATE LIMITED	Director	26/12/2005	26/12/2005	01/04/2007	Active	NO
5	U70101DL2005PTC138763	D S REALCON PRIVATE LIMITED	Director	15/01/2006	15/01/2006	01/04/2007	Active	NO
6	U45201DL2006PTC145984	V.S.P.D. BUILDCON PRIVATE LIMITED	Director	07/02/2006	07/02/2006	01/04/2007	Active	NO
7	U18109DL2007PTC163403	PARADISE KNITWEAR PRIVATE LIMITED	Director	14/05/2007	14/05/2007	-	Active	NO
8	U45300DL2007PTC164196	UNIEXCEL DEVELOPERS PRIVATE LIMITED	Director	30/05/2007	30/05/2007	18/01/2008	Active	NO
9	U72200DL2010PTC198675	PRECISE INFO TECH PRIVATE LIMITED	Director	04/02/2010	04/02/2010	-	Active	NO

Name :

Tarun Jindal

Designation :

Director

Address :

F-73 G.F., Main Road Houses, Poorvi Marg Vasant Vihar, New Delhi-110057, India

Date of Birth/Age :

08.05.1982

Date of Appointment :

29.09.2014

DIN No.:

01345195

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	U18109DL2007PTC163403	PARADISE KNITWEAR PRIVATE LIMITED	Director	14/05/2007	14/05/2007	-	Active	NO
2	U72200DL2010PTC198675	PRECISE INFO TECH PRIVATE LIMITED	Director	04/02/2010	04/02/2010	-	Active	NO
3	U18101DL2004PTC124843	PRECISE SEAMLESS APPARELS PRIVATE LIMITED	Director	21/06/2010	21/06/2010	-	Active	NO
4	U74899DL1994PLC058525	ELEGANT DYEING AND PROCESSING LIMITED	Director	29/09/2014	20/06/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. M. Gaurav
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2014

Names of Shareholders	No. of Shares
Ashok Singhal	521800
Amit Gupta	37000
Vinod Kumar Jindal	1102510
M. C. Gupta	450760

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Cotton Knitting Dyed Fabric.
Products :	Cotton Knitting Dyed Fabric
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS : AS ON 31.03.2013

Particulars	Unit	Licensed capacity	Installed capacity
Cotton Knitting Dyed Fabric	MT	3000,000	3000,000

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Punjab National Bank Limited
Branch	MCB Branch, A-9 , Connaught Place, New Delhi- 110001, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term Loan From Punjab National Bank	21.834	0.000
Short-term borrowings
Punjab National Bank - Cash Credit A/C (Against hypothecation of inventories)	8.645	22.034
Punjab National Bank - Discounting Limit (Against hypothecation of inventories)	24.318	0.000
Total	54.797	22.034

Auditors :
Name :	Anil Ammita and Company Chartered Accountants
Address :	186, DDA Site 1, New Rajinder Nagar, New Delhi-110060, India
PAN. No.:	AATFA4332N
Memberships :	----
Collaborators :	----
Associated / Subsidiary :	---

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs.10/- each	Rs. 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,425,040	Equity Shares	Rs.10/- each	Rs. 24.250 Million

FINANCIAL DATA

[All figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	24.250	24.250	24.250
(b) Reserves & Surplus	32.516	31.929	32.841
(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)	56.766	56.179	57.091
(3) Non-Current Liabilities
(a) long-term borrowings	21.834	0.000	3.141
(b) Deferred tax liabilities (Net)	5.043	6.933	8.405
(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)	26.877	6.933	11.546
(4) Current Liabilities
(a) Short term borrowings	32.963	22.034	18.695
(b) Trade payables	115.269	94.165	82.314
(c) Other current liabilities	22.695	12.104	10.852
(d) Short-term provisions	5.108	4.797	5.606
Total Current Liabilities (4)	176.035	133.100	117.467
TOTAL	259.678	196.212	186.104
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	85.511	97.218	106.155
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.162	2.763
(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	3.459	4.796	6.951
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	88.970	102.176	115.869
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	115.218	86.444	49.736
(c) Trade receivables	49.872	1.587	18.342
(d) Cash and cash equivalents	0.685	1.256	1.427
(e) Short-term loans and advances	4.933	4.749	0.730
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	170.708	94.036	70.235
TOTAL	259.678	196.212	186.104

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	814.089	749.807	612.172
	Other Income	4.503	1.819	0.665
	TOTAL	818.592	751.626	612.837
Less	EXPENSES
	Cost of Materials Consumed	663.191	600.156	485.767
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.479)	1.338	(1.515)
	Employees benefits expense	18.761	16.450	14.832
	Other expenses	116.335	118.814	96.482
	TOTAL	797.808	736.758	595.566
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	20.784	14.868	17.271
Less	FINANCIAL EXPENSES	5.493	2.067	1.599
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	15.291	12.801	15.672
Less/ Add	DEPRECIATION/ AMORTISATION	14.225	13.960	13.560
	PROFIT/ (LOSS) BEFORE TAX	1.066	(1.159)	2.112
Less	TAX	0.414	(0.305)	0.775
	PROFIT/ (LOSS) AFTER TAX	0.652	(0.854)	1.337
	Earnings / (Loss) Per Share (Rs.)	0.27	(0.35)	0.55

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.08	(0.11)	0.22
Operating Profit Margin (PBIDT/Sales)	(%)	2.55	1.98	2.82
Return on Total Assets (PBT/Total Assets}	(%)	0.41	(0.59)	1.15
Return on Investment (ROI) (PBT/Networth)		0.02	(0.02)	0.04
Debt Equity Ratio (Total Debt /Networth)		0.97	0.39	0.38
Current Ratio (Current Asset/Current Liability)		0.97	0.71	0.60

FINANCIAL ANALYSIS

[All figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	24.250	24.250	24.250
Reserves & Surplus	32.841	31.929	32.516
Net worth	57.091	56.179	56.766
long-term borrowings	3.141	0.000	21.834
Short term borrowings	18.695	22.034	32.963
Total borrowings	21.836	22.034	54.797
Debt/Equity ratio	0.382	0.392	0.965

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	612.172	749.807	814.089
		22.483	8.573

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	612.172	749.807	814.089
Profit/Loss	1.337	(0.854)	0.652
	0.22%	(0.11%)	0.08%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	Yes
5	Buyer visit details	No
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	No
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	---
33	Market information	---
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

CONTINGNET LIABILITIES:

PARTICULARS	31.03.2014	31.03.2013
	(Rs. in million)
Guarantee	442.255	352.325
Total	442.255	352.325

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10495351	27/05/2014	9,000,000.00	PUNJAB NATIONAL BANK	MID CORPORATE BRANCH, A - 9 CONNAUGHT PLACE, NEW DELHI-110001, INDIA	C04685202
2	10447686	03/09/2013	30,000,000.00	PUNJAB NATIONAL BANK	MID CORPORATE BRANCH, A-9, CONNAGHT PLACE, NEW DELHI, - 110001, INDIA	B84331453
3	10303121	02/08/2011	29,050,000.00	PUNJAB NATIONAL BANK	MCB BRANCH, A-9M, CONNAUGHT CIRCUS, NEW DELHI - 110001, INDIA	B19059997
4	10233107	17/10/2014 *	216,600,000.00	PUNJAB NATIONAL BANK	MCB BRANCH, A - 9 , CONNAUGHT PLACE, NEW DELHI- 110001, INDIA	C32479859
5	10196352	15/01/2010	30,000,000.00	PUNJAB NATIONAL BANK	MID CORPORATE BRANCH, A-9, CONNAUGHT PLACE, NEW DELHI- 110001, INDIA	A76872308
6	10013829	13/06/2006	10,000,000.00	PUNJAB NATIONAL BANK	MCB, BARAKHAMBA ROAD, NEW DELHI- 110001, INDIA	A02584456
7	10013828	13/06/2006	18,995,000.00	PUNJAB NATIONAL BANK	MCB, BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA	A02584019
8	90043701	04/04/2014 *	245,550,000.00	PUNJAB NATIONAL BANK	PUNJAB NATIONAL BANK, A - 9 CONNAUGHT PLACE, NEW DELHI- 110001, INDIA	C02662773
9	90042158	30/06/2003 *	10,000,000.00	PUNJAB NATIONAL BANK	M.C.B. BARAKHAMBA ROAD, NEW DELHI, INDIA	-
10	90041843	12/07/2001 *	3,500,000.00	PUNJAB NATIONAL BANK	NARAINA, NEW DELHI, INDIA	-

* Date of charge modification

FIXED ASSETS

TANGIBLE ASSETS

• Land
• Building
• Plant and Machinery
• Furniture and Fixture
• Computer
• Electrical Installation

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.63.76
UK Pound	1	Rs.99.60
Euro	1	Rs.69.71

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	HNA
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		37

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 unfavorable 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.