MIRA INFORM REPORT

Report No. :	338462.2
Report Date :	26.08.2015

IDENTIFICATION DETAILS

Name :	AASSEM MULTITRADE PRIVATE LIMITED
Registered Office :	Room No 1, 1^st Floor, Shah House 240/242, Dr. Cawasji Hormasji Dhobi Talao, Mumbai – 400002, Maharashtra
Tel. No.:	91-22-65040987
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	31.05.2011
Com. Reg. No.:	11-218095
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U52399MH2011PTC218095
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 :	Trader of All Types of Fabrics
No. of Employees :	50 (Approximately)

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 :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. As per Registrar of companies the date of balance sheet i.e. financials filed is shown as 31^st March, 2014 but the documents related to the financials for the year 2014 is not available from any source. Rating is constrained on company small networth base, huge unfavorable gap between trade payable and receivable as trade payable are more as compared to trade receivable and weak balance sheet profile. Business is active as per status shown in the Registrar of companies. Payment terms are unknown. 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 – 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

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 PARTED BY

Name :	Mr. Suresh Gupta
Designation :	Accounts Department
Contact No.:	91-22-65040987
Date :	25.08.2015

LOCATIONS

Registered Office :	Room No 1, 1^st Floor, Shah House 240/242, Dr. Cawasji Hormasji Dhobi Talao, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-65040987
Fax No.:	91-22-22003912
E-Mail :	morarka08@rediffmail.com realstone_exports@yahoo.co.in acs.gaurangshah@gmail.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sushil Ratanlal Moraka

Designation :

Additional Director

Address :

24-B, Morarka House, Ground Floor, ML. Dahanukar Marg, Mumbai - 400026, Maharashtra, India

Date of birth/Age :

06.10.1951

Date of Appointment :

02.09.2013

DIN No.:

01399879

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	U21090KA1979PLC003469	TUNGABHADRA PULP AND BOARD MILLS LIMITED	Director	27-08-1979	27-08-1979	-	Active	NO
2	U72900KA1968PLC001768	ID INFO BUSINESS SERVICES LIMITED	Director	28-02-1986	28-02-1986	-	Active	NO
3	U17110MH1910PLC000316	BEHARILAL RAMCHARAN COTTON MILLS LTD	Director	24-12-1986	24-12-1986	31-07-2010	Active	NO
4	U34300RJ1982PLC002434	RAJASTHAN XLO SANWA MIDLAND LIMITED	Director	02-03-1994	02-03-1994	-	Active	NO
5	U67120MH1996PLC097779	CANDY HOLDINGS LIMITED	Director	29-02-1996	29-02-1996	-	Active	NO
6	U41000DL1996PLC081141	CANDY FILTERS (DELHI) LIMITED	Director	13-08-1996	13-08-1996	-	Active	NO
7	U29197MH1997PLC105309	CANDY FILTERS (BOMBAY) LIMITED	Director	21-01-1997	21-01-1997	-	Active	NO
8	U25199DL2001PTC111312	ARCHIT PLASTIC PRIVATE LIMITED	Director	11-01-2002	11-01-2002	-	Active	NO
9	U45200MH1994PLC078774	RIGVEDA PROPERTIES LTD	Director	11-05-2002	11-05-2002	-	Active	NO
10	U67120MH1995PTC088818	AQUASTEL WATER PURIFICATION SYSTEMS PRIVATE LIMITED	Director	11-05-2002	11-05-2002	-	Active	NO
11	U15424KA1993PLC014860	HEMAKUTA SUGAR & ALLIED INDUSTRIES LIMITED	Director	07-12-2002	07-12-2002	-	Active	NO
12	U51900MH1966PLC013539	AMALGAMATED COMMERCIAL TRADERS LIMITED	Director	20-10-2003	20-10-2003	-	Active	NO
13	U51909MH2004PTC146195	Pranami Trading Private Limited	Director	08-07-2004	08-07-2004	-	Active	NO
14	U27100MH1986PLC040723	DURALLOY CUTTERS LIMITED	Director	28-03-2005	28-03-2005	-	Active	NO
15	U29220MH1983PLC029536	PARK TOOLS LIMITED	Director	28-03-2005	28-03-2005	-	Active	NO
16	U29220MH1984PLC034101	BELL TOOLS LTD	Director	28-03-2005	28-03-2005	-	Active	NO
17	U51909MH2003PLC140398	REALSTONE EXPORTS LIMITED	Director	26-04-2006	26-04-2006	-	Active	NO
18	U32109MH1973PTC016792	ALCON ELECTRONICS PRIVATE LIMITED	Director	01-09-2006	01-09-2006	-	Active	NO
19	U31909MH2004PTC148945	ALCAP ELECTRONICS PRIVATE LIMITED	Director	01-09-2006	01-09-2006	-	Active	NO
20	U51909MH2004PLC146061	UTKANTHA TRADING AND PROPERTIES LIMITED	Director	15-08-2007	15-08-2007	-	Active	NO
21	U52110DL1963PLC003965	P S Jain Solutions Limited	Additional director	01-01-2008	01-01-2008	-	Active	NO
22	U50103PB1953PLC001784	P S JAIN MOTOR CO PUNJAB LTD	Additional director	01-01-2008	01-01-2008	-	Active	NO
23	U51909MH2008PTC182295	SIDDHPAD TRADING PRIVATE LIMITED	Director	02-07-2008	02-07-2008	31-01-2013	Active	NO
24	U51109MH2008PTC178620	CITYBASE MULTITRADE PRIVATE LIMITED	Director	02-07-2008	02-07-2008	31-01-2013	Active	NO
25	U93000MH2009PLC195109	SWIFT IT INFRASTRUCTURE & SERVICES LIMITED	Director	20-08-2009	20-08-2009	31-03-2010	Amalgamated	NO
26	U93000MH2009PTC195220	MINTAGE SOLUTIONS PRIVATE LIMITED	Director	25-08-2009	25-08-2009	31-03-2010	Active	NO
27	U72200DL1996PTC079563	INTERACTIVE WORLD PRIVATE LIMITED	Director	30-09-2010	30-09-2010	-	Active	NO
28	U34300RJ1982PLC002480	XLO UNITED CLUTCH PRODUCTS LTD	Director	03-03-2011	03-03-2011	-	Active	NO
29	U52399MH2011PTC218095	AASSEM MULTITRADE PRIVATE LIMITED	Additional director	02-09-2013	31-05-2011	-	Active	NO

Name :

Mr. Baikunthnath Pritamji Chaturvedi

Designation :

Director

Address :

Chaube Bhavan, 69E Bhuleshwar, Mumbai - 400002, Maharashtra, India

Date of Birth/Age :

01.07.1950

Date of Appointment :

04.10.2012

DIN No.:

01423812

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	U34300RJ1982PLC002434	RAJASTHAN XLO SANWA MIDLAND LIMITED	Director	02-03-1994	02-03-1994	03-03-2011	Active	NO
2	U51900MH1966PLC013539	AMALGAMATED COMMERCIAL TRADERS LIMITED	Director	07-05-2004	07-05-2004	-	Active	NO
3	U99999MH1994PLC081198	SOUMIL TECHNOLOGIES LIMITED	Director	06-01-2006	06-01-2006	-	Dormant	NO
4	U51909MH2004PLC146061	UTKANTHA TRADING AND PROPERTIES LIMITED	Director	15-08-2007	15-08-2007	-	Active	NO
5	U67120MH1996PLC097779	CANDY HOLDINGS LIMITED	Director	25-08-2007	25-08-2007	-	Active	NO
6	U29220MH1983PLC029536	PARK TOOLS LIMITED	Director	02-08-2008	02-08-2008	-	Active	NO
7	U21090KA1979PLC003469	TUNGABHADRA PULP AND BOARD MILLS LIMITED	Director	02-08-2008	02-08-2008	-	Active	NO
8	U29220MH1984PLC034101	BELL TOOLS LTD	Director	04-08-2008	04-08-2008	-	Active	NO
9	U29197MH1997PLC105309	CANDY FILTERS (BOMBAY) LIMITED	Director	11-04-2009	11-04-2009	-	Active	NO
10	U93000MH2009PLC195109	SWIFT IT INFRASTRUCTURE & SERVICES LIMITED	Director	20-08-2009	20-08-2009	31-03-2010	Amalgamated	NO
11	U93000MH2009PTC195220	MINTAGE SOLUTIONS PRIVATE LIMITED	Director	25-08-2009	25-08-2009	31-03-2010	Active	NO
12	U65993RJ1978PLC001826	PINK CITY INVESTMENT CO LTD	Additional director	25-03-2010	25-03-2010	18-07-2012	Active	NO
13	U74999MH2006PTC159814	DURA BARREL PACKAGING PRIVATE LIMITED	Director	16-02-2011	16-02-2011	-	Active	NO
14	U52399MH2011PTC218095	AASSEM MULTITRADE PRIVATE LIMITED	Director	04-10-2012	04-10-2012	-	Active	NO
15	U51909MH2008PTC182295	SIDDHPAD TRADING PRIVATE LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
16	U51109MH2008PTC178620	CITYBASE MULTITRADE PRIVATE LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
17	U15424KA1993PLC014860	HEMAKUTA SUGAR & ALLIED INDUSTRIES LIMITED	Director	05-12-2014	05-12-2014	-	Active	NO

Name :

Mr. Basheer D Ahmed

Designation :

Director

Address :

8, Husalli Factory Area, Husalli, Koppal – 583234, Karnataka, India

Date of Birth/Age :

04.07.1948

Date of Appointment :

04.10.2012

DIN No.:

02569145

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	U51900MH1966PLC013539	AMALGAMATED COMMERCIAL TRADERS LIMITED	Director	30-10-2004	30-10-2004	-	Active	NO
2	U72200DL1996PTC079563	INTERACTIVE WORLD PRIVATE LIMITED	Director	04-10-2005	04-10-2005	-	Active	NO
3	U36911DL2001PLC111311	MUNIRABAD TRADING LIMITED	Director	31-07-2009	31-07-2009	-	Active	NO
4	U15424KA1993PLC014860	HEMAKUTA SUGAR & ALLIED INDUSTRIES LIMITED	Director	16-11-2010	16-11-2010	-	Active	NO
5	U74999MH2006PTC159814	DURA BARREL PACKAGING PRIVATE LIMITED	Director	16-02-2011	16-02-2011	-	Active	NO
6	U52399MH2011PTC218095	AASSEM MULTITRADE PRIVATE LIMITED	Director	04-10-2012	04-10-2012	-	Active	NO
7	U29197MH1997PLC105309	CANDY FILTERS (BOMBAY) LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
8	U29220MH1984PLC034101	BELL TOOLS LTD	Director	21-01-2013	21-01-2013	-	Active	NO
9	U29220MH1983PLC029536	PARK TOOLS LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
10	U51909MH2008PTC182295	SIDDHPAD TRADING PRIVATE LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
11	U51109MH2008PTC178620	CITYBASE MULTITRADE PRIVATE LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
12	U27100MH1986PLC040723	DURALLOY CUTTERS LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Suresh Gupta
Designation :	Accounts Department

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Abhishek Sushil Morarka	5000	50.00
Vandana Sushil Morarka	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Trader of All Types of Fabrics
Products :
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, Advance Payment, Cheque
Purchasing :	Cash, Advance Payment, Cheque

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	DJ Exim India Private limited
Name of the Person :	Not Divulged
Contact No.:	91-22-66103950 / 6610395 (Not Working)
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

Customers :

Company Name :	Vandana Industries Limited (Raipur)
Name of the Person :	Not Divulged
Contact No.:	91-771-2324755 (Not Working)
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

No. of Employees :

50 (Approximately)

Bankers :

Banker Name :	HDFC Bank Limited
Branch :	Nanik Motwani Marg, Fort, Mumbai, Maharashtra, India
Person Name (With Designation) :	Not Divulged
Contact Number :	91-22-28561818 / 61606161 (Continuously Ringing)
Name of Account Holder :	Not Divulged
Account Number :	Not Divulged
Account Since (Date/Year of Account Opening) :	Not Divulged
Average Balance Maintained :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

Auditors :
Name :	Vishnu Kumar Agarwal Chartered Accountant
Address :	145, Dady Seth Agiary Lane, 8, Shiv Niwas, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-11-22082442 / 40227571
E-Mail :	Vishnukumar_agarwal@hotmail.com
PAN No.:	ABJPA2377E
Memberships :	Not Divulged
Collaborators :	Not Divulged
Associates Companies:	Bell Tools Limited Realstone Exports Limited Park Tools Limited Candy Filers (Bombay) Limited City base Multitrade Private Limited Candy Holding Limited Utkantha Trading Limited Dura Barrel Packaging Limited Muniradad Trading Limited

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

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 Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	0.145	0.066
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	0.245	0.166
(3) Non-Current Liabilities
(a) long-term borrowings	0.040	0.040
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.040	0.040
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	915.138	542.810
(c) Other current liabilities	0.048	0.020
(d) Short-term provisions	0.037	0.029
Total Current Liabilities (4)	915.223	542.859
TOTAL	915.508	543.065
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	822.298	43.946
(c) Trade receivables	91.754	351.891
(d) Cash and cash equivalents	0.231	0.428
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	1.225	146.800
Total Current Assets	915.508	543.065
TOTAL	915.508	543.065

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL	738.070	612.425
Less	EXPENSES
		TOTAL	737.951	612.329
	PROFIT BEFORE TAX		0.119	0.096
Less	TAX		0.04	0.030
	PROFIT AFTER TAX		0.079	0.066
	Earnings Per Share (Rs.)		7.89	6.62

Particulars	31.03.2015	31.03.2014
Sales Turnover (Approximately)	3220.000	1970.000
	[Due to receive more orders]

The above information has been parted by Mr. Suresh

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

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

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	0.10	0.01
Return on Total Assets (PBT/Total Assets)	(%)	0.00	0.02
Return on Investment (ROI) (PBT/Networth)		0.49	0.58
Debt Equity Ratio (Total Debt /Networth)		0.16	0.24
Current Ratio (Current Asset/Current Liability)		1.00	1.00

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100
Reserves & Surplus	0.066	0.145
Net worth	0.166	0.245
long-term borrowings	0.040	0.040
Short term borrowings	0.000	0.000
Total borrowings	0.040	0.040
Debt/Equity ratio	0.241	0.163

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Total Income	612.425	0.738
		(99.879)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Total Income	612.425	0.738
Profit	0.066	0.079
	0.01%	10.70%

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	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
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	No
26	Turnover of firm for last four years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	No
29	Profitability for last two 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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Million	31.03.2012 Rs. In Million
Long Term Borrowings
Loans From Others	0.040	0.040
Total	0.040	0.040

NO CHARGES EXIST FOR COMPANY

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.66.71
UK Pound	1	Rs.105.10
Euro	1	Rs.77.11

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	KAS
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		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

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.