MIRA INFORM REPORT

Report No. :	357281
Report Date :	30.12.2015

IDENTIFICATION DETAILS

Name :	GARGI ENGINEERING ENTERPRISES PRIVATE LIMITED
Registered Office :	205, Vasant Vihar Commercial Complex, Next to Basant Cinema, Chembur, Mumbai – 400074, Maharashtra
Tel. No.:	91-22-25201596
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.04.2000
Com. Reg. No.:	11-125667
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U28920MH2000PTC125667
IEC No.:	Not Applicable (As claimed by company management that company does not export and import)
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 :	Dealer of Industrial products such as Air and Gas Compressors, Lubricating equipments etc. (Confirmed by management)
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Exist
Comments :	Subject was incorporated in the year 2000 having satisfactory track. Management has dialed to file financials for FY 15 with Registrar of Companies. For the FY 14, the company has achieved decent revenue marked by satisfactory profit margin. Operational performance has improved as compared to previous year. The company possesses adequate net worth base marked by low borrowings, fair cash accruals and favourable gap between trade payables and receivables. Trade relations are fair. Business is active. Payments are usually correct. The company can be considered for business dealings at usual 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

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 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mrs. Savitri Shrinivas
Designation :	Chief Financial Officer
Contact No.:	91-22-27626003
Date :	29.12.2015

LOCATIONS

Registered Office :	205, Vasant Vihar Commercial Complex, Next to Basant Cinema, Chembur, Mumbai – 400074, Maharashtra, India
Tel. No.:	91-22-25201596 / 7 / 25201396 / 7
Mobile No.:	91-9925014048 (Mr. Wallace)
Fax No.:	91-22-25202706 / 3080
E-Mail :	gargi@gargiindia.com cs@gargi-india.xom
Website :	http://www.gargiindia.com www.gargi-india.com
Branch :	303, Kashyap Complex, Opposite Mesonic Hall, Productivity Road, Alkapuri, Baroda, Gujarat, India
Head Office :	02, Mercantile Apartment, Dr. C. Gidwari Road, Chembur, Mumbai – 400074, Maharashtra, India
E-Mail :	gargi@gargi-india.com

DIRECTORS

As on 31.03.2015

Name :

Mr. Gaurav Vinod Kapur

Designation :

Director

Address :

18, Union Park, Trombay Road, Chembur, Mumbai - 400071, Maharashtra, India

Date of Birth/Age :

26.10.1943

Date of Appointment :

18.09.2015

DIN No.:

00034397

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	U24110MH1977PTC019480	GARGI CHEMICALS PRIVATE LIMITED	Managing director	01/08/2012	28/10/2003	-	Active	NO
2	U27106MH1981PTC024307	GARGI STEELCHEM PRIVATE LIMITED	Director	01/09/2004	01/09/2004	-	Active	NO
3	U27310GJ2006PTC048174	GARGI CRYSTAL STEEL CHEM PRIVATE LIMITED	Director	25/04/2006	25/04/2006	-	Active	NO
4	U24100MH1984PTC034540	GAURAV INFRABUILD PRIVATE LIMITED	Director	20/11/2007	20/11/2007	-	Active	NO
5	U27107PN2007PTC131045	Magna Ferrochem Private Limited	Director	29/11/2007	29/11/2007	25/02/2014	Active	NO
6	U74999MH1988PTC046413	GARGI HUTTENES ALBERTUS PRIVATE LIMITED	Director	06/09/2014	01/11/2008	-	Active	NO
7	U65990MH1983PTC029733	GARGI HOLDINGS PRIVATE LIMITED	Whole-time director	05/08/2011	05/08/2011	-	Active	NO
8	U26999TZ1995PTC006078	SURIYA SANDS PRIVATE LIMITED	Director	31/07/2014	30/06/2014	-	Active	NO
9	U28920MH2000PTC125667	GARGI ENGINEERING ENTERPRISES PRIVATE LIMITED	Director	18/09/2015	01/08/2015	-	Active	NO

Name :

Mr. Vinod Vishwamitra Kapur

Designation :

Managing Director

Address :

18, Union Park, Trombay Road, Chembur, Mumbai - 400071, Maharashtra, India

Date of Appointment :

07.04.2000

DIN No.:

00474054

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	U24110MH1977PTC019480	GARGI CHEMICALS PRIVATE LIMITED	Whole-time director	01/08/2012	05/02/1977	-	Active	NO
2	U65990MH1983PTC029733	GARGI HOLDINGS PRIVATE LIMITED	Managing director	06/04/1983	06/04/1983	-	Active	NO
3	U01110MH1987PTC042674	KARJAT HORTICULTURAL PVT LTD	Director	23/02/1987	23/02/1987	-	Strike off	NO
4	U74999MH1988PTC046413	GARGI HUTTENES ALBERTUS PRIVATE LIMITED	Director	06/09/2014	07/03/1988	-	Active	NO
5	U24100MH1984PTC034540	GAURAV INFRABUILD PRIVATE LIMITED	Director	04/11/1995	04/11/1995	-	Active	NO
6	U28920MH2000PTC125667	GARGI ENGINEERING ENTERPRISES PRIVATE LIMITED	Managing director	07/04/2000	07/04/2000	-	Active	NO
7	U72200MH2000PTC130222	GARGI SOFTSYS PRIVATE LIMITED	Director	26/12/2000	26/12/2000	-	Active	NO

Name :

Mr. Vicky Vishwamitra Kapur

Designation :

Managing Director

Address :

18, Union Park, Trombay Road, Chembur, Mumbai - 400071, Maharashtra, India

Date of Birth/Age :

30.10.1952

Date of Appointment :

07.04.2000

DIN No.:

00474210

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	U24110MH1977PTC019480	GARGI CHEMICALS PRIVATE LIMITED	Managing director	01/08/2012	05/02/1977	-	Active	NO
2	U65990MH1983PTC029733	GARGI HOLDINGS PRIVATE LIMITED	Managing director	06/04/1983	06/04/1983	-	Active	NO
3	U24100MH1984PTC034540	GAURAV INFRABUILD PRIVATE LIMITED	Director	14/11/1984	14/11/1984	-	Active	NO
4	U74999MH1988PTC046413	GARGI HUTTENES ALBERTUS PRIVATE LIMITED	Managing director	06/09/2014	07/03/1988	-	Active	NO
5	U28920MH2000PTC125667	GARGI ENGINEERING ENTERPRISES PRIVATE LIMITED	Managing director	07/04/2000	07/04/2000	-	Active	NO
6	U91110MH1996NPL099079	INDIAN RESING MANUFACTURERS ASSOCIATION	Director	16/09/2000	16/09/2000	08/09/2012	Active	NO
7	U72200MH2000PTC130222	GARGI SOFTSYS PRIVATE LIMITED	Director	26/12/2000	26/12/2000	-	Active	NO

Name :

Ms. Sudha Thurutheri

Designation :

Director

Address :

600, Shiv-Anil, 6, Union Park, Sion-Trombay Road, Chembur, Mumbai - 400071, Maharashtra, India

Date of Birth/Age :

28.02.1960

Date of Appointment :

05.05.2000

DIN No.:

00487001

Name :

Mr. Varun Vicky Kapur

Designation :

Director

Address :

18, Union Park, Trombay Road, Chembur, Mumbai - 400071, Maharashtra, India

Date of Birth/Age :

22.01.1955

Date of Appointment :

16.09.2014

DIN No.:

05319980

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	U65990MH1983PTC029733	GARGI HOLDINGS PRIVATE LIMITED	Whole-time director	29/09/2012	16/07/2012	-	Active	NO
2	U24110MH1977PTC019480	GARGI CHEMICALS PRIVATE LIMITED	Director	06/09/2014	01/04/2014	-	Active	NO
3	U27106MH1981PTC024307	GARGI STEELCHEM PRIVATE LIMITED	Director	26/09/2014	01/04/2014	-	Active	NO
4	U28920MH2000PTC125667	GARGI ENGINEERING ENTERPRISES PRIVATE LIMITED	Director	16/09/2014	01/05/2014	-	Active	NO
5	U26999TZ1995PTC006078	SURIYA SANDS PRIVATE LIMITED	Director	31/07/2014	30/06/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Savitri Shrinivas
Designation :	Chief Financial Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Shri Vinod Kapur Smt Geeta Kapur	14995
Shri Vicky Kapur Smt Namita Kapur	14995
Shri Vinod Kapur Smt Geeta Kapur	15000
Shri Gaurav Kapur Shri Vinod Kapur	20000
Smt Namita Kapur Shri Vicky Kapur	15000
Shri Varun Kapur Shri Vicky Kapur	20000
Smt Namita Kapur Shri Vicky Kapur	1
Shri Vinod Kapur Smt Geeta Kapur Anuradha Mukherji	1
Shri Vicky Kapur Smt Namita Kapur Saroj Mukherji H.U.F Shalini Khosala	1
Shri Vinod Kapur Smt Geeta Kapur Balbir Dhariwala	1
Shri Vicky Kapur Smt Namita Kapur Namita Ahuja Suvira Ahuja	1
Shri Vicky Kapur Smt Namita Kapur Nihal Kapur Vibha Kapur	1
Shri Vinod Kapur Smt Geeta Kapur Khosala Concept	1
Shri Vicky Kapur Smt Namita Kapur Anisha Kapur	1
Shri Vinod Kapur Smt Geeta Kapur	1
Shri Vicky Kapur Smt Namita Kapur	1
Total	100000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Dealer of Industrial products such as Air and Gas Compressors, Lubricating equipments etc. (Confirmed by management)
Products :	Air Gas Compressors Lubricating equipments
Brand Names :	Not Divulged
Agencies Held :	Kirloskar Pneumatic Company Limited
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and L/C
Purchasing :	Cash and L/C

PRODUCTION STATUS NOT AVAILABLE

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 :

20 (Approximately)

Bankers :

Bank Name	Cosmos Co-Operative Bank
Branch	Chembur, Mumbai, Maharashtra, 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)
Short-term borrowings
Loan repayable on demand from Bank	11.872	6.885
Total	11.872	6.885

Auditors :
Name :	Rajesh Shah and Company Chartered Accountants
Address :	Shop No. 9, Sanskar Ghatkopar West, Mumbai – 400086, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAFPD0822H
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

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 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	1.000	1.000	1.000
(b) Reserves & Surplus	35.889	33.428	25.948
(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)	36.889	34.428	26.948
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	6.365	8.110
(b) Deferred tax liabilities (Net)	1.243	0.421	0.413
(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)	1.243	6.786	8.523
(4) Current Liabilities
(a) Short term borrowings	11.872	6.885	5.981
(b) Trade payables	0.895	9.988	23.373
(c) Other current liabilities	4.879	0.257	0.119
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	17.646	17.130	29.473
TOTAL	55.778	58.344	64.944
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	20.614	21.019	5.425
(ii) Intangible Assets	0.000	0.000	0.000
(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	1.000	1.000	1.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	2.216	1.415	1.294
(e) Other Non-current assets	0.000	0.441	0.441
Total Non-Current Assets	23.830	23.875	8.160
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	19.892	16.343	23.843
(c) Trade receivables	10.450	16.761	26.537
(d) Cash and cash equivalents	1.331	1.197	5.646
(e) Short-term loans and advances	0.275	0.168	0.497
(f) Other current assets	0.000	0.000	0.261
Total Current Assets	31.948	34.469	56.784
TOTAL	55.778	58.344	64.944

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Gross Revenue from Operations	235.953	190.593	211.321
Less	TOTAL EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	16.148	14.237	17.494
Less	TAX	5.498	4.433	5.732
	PROFIT/ (LOSS) AFTER TAX	10.650	9.804	11.762
	Earnings / (Loss) Per Share (Rs.)	106.50	98.04	117.62

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 operating activity	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	29.48	24.83	27.36
Return on Investment (ROI) (PBT/Networth)		0.44	0.41	0.65
Debt Equity Ratio (Total Debt /Networth)		0.32	0.38	0.52
Current Ratio (Current Asset/Current Liability)		1.81	2.01	1.93

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	1.000	1.000	1.000
Reserves & Surplus	25.948	33.428	35.889
Net worth	26.948	34.428	36.889
long-term borrowings	8.110	6.365	0.000
Short term borrowings	5.981	6.885	11.872
Total borrowings	14.091	13.250	11.872
Debt/Equity ratio	0.523	0.385	0.322

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)
Gross Revenue from Operations	211.321	190.593	235.953
		(9.809)	23.799

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Gross Revenue from Operations	211.321	190.593	235.953
Profit	11.762	9.804	10.650
	5.57%	5.14%	4.51%

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	No
17	Details of sister concerns	No
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	Yes
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS

Case Details
Bench:- Bombay
Presentation Date: 04.08.2015
Lodging No:-	CAFST/24566/2015	Failing Date:-	04.09.2015
Main Matter
Stamp No:-	FAST/21964/2015
Petitioner:-	LALJI MULJI TRANSPORT COMPANY		Respondent:-	GARGI ENGINEERING ENTERPRISES
Petn.Adv:-	KALYANI G PARMAR (I2620)
District:-	MUMBAI
Bench:-	SINGLE		Category:	FOR STAY
Status:-	Pre-Admission		Stage:-
Last Date:-	14.09.2015
Coram:-	ACCORDING TO SITTING LIST
Act:-	C.P.C. (Non-Interlocutory Order)		Under Section:-		96

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and advances from related parties	0.000	6.365
Total	0.000	6.365

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90148239	29/03/2003 *	5,000,000.00	THE COSMOS CO-OPERATIVE BANK LTD	269/270; SHANIWAR PETH, PUNE, Manipur - 411030, INDIA	-
2	90147707	28/12/2002 *	200,000.00	THE COSMOS CO-OPERATIVE BANK LTD	269/270; SHANIWAR PETH, PUNE, Manipur - 411030, INDIA	-
3	90147703	11/06/2001	8,500,000.00	THE COSMOS CO-OPERATIVE BANK LTD	269/270; SHANIWAR PETH, PUNE, Manipur - 411030, INDIA	-

FIXED ASSETS

• Land
• Building
• Plant and Equipment
• Refrigerator
• Furniture and Fixture
• Vehicles
• Office Equipment
• Leasehold Improvement
• Computer
• Software

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.66.37
UK Pound	1	Rs.98.91
Euro	1	Rs.72.84

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	AMT
Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		47

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.