MIRA INFORM REPORT

Report No. :	356051
Report Date :	30.12.2015

IDENTIFICATION DETAILS

Name :	JAIMESH INVESTMENTS PRIVATE LIMITED
Registered Office :	11A, Maharshi Devendra Road, 6th Floor, Room No 2, Posta, Kolkata-700007, West Bengal
Tel. No.:	91-33-22741864
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	01.10.1985
Com. Reg. No.:	21-039569
Capital Investment / Paid-up Capital :	Rs. 32.330 Million
CIN No.: [Company Identification No.]	U65993WB1985PTC039569
IEC No.:	Not Divulged
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 :	Subject is a non-banking finance company engaged in the business of purchase and sales of share, advancing of loan, extension of finance, dealing in derivatives and commodities and real estate. (Registered Activity)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 445000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1985 having satisfactory track record. Management of the subject has failed to file latest financials with government department for the year 2015. Further, as per Registrar of companies, the date of balance sheet (i.e. financial field0 is shown as 31.03.2014 but the documents related to the financials are not available from any source. However, as per FY2013 financials, the company possesses decent financial profile with increase in net profit by 8.78% and comfortable capital structure marked by sufficient networth base and low debt recorded during the year under review. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. In view of good capital structure and long track record of operations, 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.

LOCATIONS

Registered Office :	11A, Maharshi Devendra Road, 6th Floor, Room No 2, Posta, Kolkata-700007, West Bengal, India
Tel. No.:	91-33-22741864
Fax No.:	91-33-22741864
E-Mail :	sgpl151@rediffmail.com

DIRECTORS

As on 31.03.2015

Name :

Mr. Shree Vardhan Bahety

Designation :

Director

Address :

32, Banstala Gullee, Kolkata-700007, West Bengal, India

Date of Birth/Age :

16.11.1977

Date of Appointment :

01.01.2004

Voter ID No.:

DPD0773363

DIN No.:

00590502

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	U70109WB1947PTC015827	BAHITI PROPERTIES PRIVATE LIMITED	Director	10/10/1998	10/10/1998	-	Active	NO
2	U65993WB1985PTC039569	JAIMESH INVESTMENTS PRIVATE LIMITED	Director	01/01/2004	01/01/2004	-	Active	NO
3	U29299WB1977PTC030878	RANJIT EXPORTS PRIVATE LIMITED	Director	14/08/2007	14/08/2007	-	Active	NO
4	U51909WB2010PTC142364	GOVINDA TRADECOM PRIVATE LIMITED	Director	05/03/2010	05/03/2010	-	Active	NO
5	U51109WB2007PTC116201	NEUTRAL TRADELINK PRIVATE LIMITED	Director	08/05/2010	08/05/2010	-	Active	NO
6	U51109WB2007PTC116297	WHOLE TIME COMMOTRADE PRIVATE LIMITED	Director	08/05/2010	08/05/2010	-	Active	NO
7	U15421WB2012PTC180225	Babylon Agro Products Private Limited	Director	20/09/2012	20/09/2012	21/09/2013	Active	NO

Name :

Mr. Ram Kumar Sarda

Designation :

Director

Address :

N.S.B. Road - Veteniyari Hospital, P.S. - Ranigunj, Dist.-Burdwan, Burdwan-713347, West Bengal, India

Date of Birth/Age :

15.12.1950

Date of Appointment :

26.06.2007

Voter ID No.:

WB/38/261/507564

DIN No.:

00737615

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	U51909WB1997PTC084550	LOTU MERCHANDISE PRIVATE LIMITED	Director	06/06/1997	06/06/1997	-	Active	NO
2	U65922UP1997PTC022501	CHAIN LINK HOUSING DEVELOPERS PRIVATE LIMITED	Director	19/08/1997	19/08/1997	-	Active	NO
3	U27106WB2000PTC092158	SHREEGOPAL GOVIND SPONGE PRIVATE LIMITED	Director	19/07/2000	19/07/2000	-	Active	NO
4	U27102WB2002PTC095374	SHREEGOPAL HI-TECH PRIVATE LIMITED	Director	30/09/2003	30/09/2003	13/06/2007	Amalgamated	NO
5	U26950WB2005PTC104756	SHREEGOPAL CONCRETE PRIVATE LIMITED	Director	16/08/2005	16/08/2005	-	Active	NO
6	U65993WB1985PTC039569	JAIMESH INVESTMENTS PRIVATE LIMITED	Director	26/06/2007	26/06/2007	-	Active	NO
7	U29299WB1977PTC030878	RANJIT EXPORTS PRIVATE LIMITED	Director	14/08/2007	14/08/2007	26/03/2013	Active	NO
8	U27102CT2004PTC016535	SHIVALAY ISPAT AND POWER PRIVATE LIMITED	Director	15/09/2007	15/09/2007	22/02/2012	Active	NO
9	U27100WB2005PLC139430	SRI VENKATESH IRON AND ALLOYS (INDIA) LIMITED	Director	25/09/2007	25/09/2007	30/09/2009	Active	NO
10	U74899DL1994PTC062006	KUNAL PIPES INDIA PRIVATE LIMITED	Director	01/07/2008	01/07/2008	04/11/2011	Active	NO
11	U27100WB2008PTC128591	ANMOL STEEL AND POWER PRIVATE LIMITED	Director	18/08/2008	18/08/2008	-	Active	NO
12	U51909WB2010PTC142364	GOVINDA TRADECOM PRIVATE LIMITED	Director	05/03/2010	05/03/2010	-	Active	NO
13	U51109WB2007PTC116201	NEUTRAL TRADELINK PRIVATE LIMITED	Director	08/05/2010	08/05/2010	-	Active	NO
14	U51109WB2007PTC116297	WHOLE TIME COMMOTRADE PRIVATE LIMITED	Director	08/05/2010	08/05/2010	-	Active	NO
15	U27109WB2005PTC103853	GAJANAN IRON PRIVATE LIMITED	Director	27/08/2010	27/08/2010	05/12/2015	Active	NO
16	U15549WB2010PTC156308	MATRIX ROLLER MILL PRIVATE LIMITED	Director	01/02/2013	01/02/2013	05/06/2015	Active	NO
17	U15421WB2012PTC180225	Babylon Agro Products Private Limited	Director	16/04/2013	16/04/2013	-	Active	NO

Name :

Mr. Shiv Kumar Sarda

Designation :

Director

Address :

77/1, Netaji Subhash Bose Road, Ranigunj-713347, West Bengal, India

Date of Birth/Age :

22.03.1957

Date of Appointment :

01.01.2004

Voter ID No.:

WB/38/261/507257

DIN No.:

00894667

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	U65910UP1997PTC021893	VOLGINA FINVEST PRIVATE LIMITED	Director	05/05/1997	05/05/1997	-	Active	NO
2	U51109WB1999PTC089127	SHIVAM VYAPAAR PRIVATE LIMITED	Director	18/03/2002	18/03/2002	-	Active	NO
3	U27102WB2002PTC095374	SHREEGOPAL HI-TECH PRIVATE LIMITED	Director	14/11/2002	14/11/2002	13/06/2007	Amalgamated	NO
4	U65993WB1985PTC039569	JAIMESH INVESTMENTS PRIVATE LIMITED	Director	01/01/2004	01/01/2004	-	Active	NO
5	U26950WB2005PTC104756	SHREEGOPAL CONCRETE PRIVATE LIMITED	Director	21/07/2015	16/08/2005	-	Active	NO
6	U51909WB2010PTC142458	GODAVARI MERCHANDISE PRIVATE LIMITED	Director	05/03/2010	05/03/2010	-	Active	NO
7	U15421WB2012PTC180225	Babylon Agro Products Private Limited	Director	30/09/2014	05/03/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	72.99
Directors or relatives of Directors	27.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is a non-banking finance company engaged in the business of purchase and sales of share, advancing of loan, extension of finance, dealing in derivatives and commodities and real estate. (Registered Activity)
Products/ Services :	Purchase and sales of share Advancing of loan Dealing in derivatives and commodities
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

Bank Name	Oriental Bank of Commerce
Branch	Nachan Road, Benachity, Durgapur - 713213, West Bengal, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Auditors :
Name :	Lalit Kumar Agrawalla Chartered Accountant
Address :	N. S. B. Road, Raniganj-713347, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	ACOPA6957E
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3,500,000	Equity Shares	Rs.10/- each	Rs. 35.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,313,000	Equity Shares	Rs.10/- each	Rs. 33.130 Million

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3,500,000	Equity Shares	Rs.10/- each	Rs. 35.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,233,000	Equity Shares	Rs.10/- each	Rs. 32.330 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	32.330	29.390	29.390
(b) Reserves & Surplus	122.227	109.779	109.144
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	1.200	0.000	0.000
Total Shareholders’ Funds (1) + (2)	155.757	139.169	138.534
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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	0.083
Total Non-current Liabilities (3)	0.000	0.000	0.083
(4) Current Liabilities
(a) Short term borrowings	0.185	0.000	0.000
(b) Trade payables	5.246	0.883	0.953
(c) Other current liabilities	0.778	0.527	0.528
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	6.209	1.410	1.481
TOTAL	161.966	140.579	140.098
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.341	0.459	0.620
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	32.600	21.100	51.600
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	32.941	21.559	52.220
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	104.594	85.883	76.399
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	1.291	6.052	0.382
(e) Short-term loans and advances	23.140	27.070	11.068
(f) Other current assets	0.000	0.015	0.029
Total Current Assets	129.025	119.020	87.878
TOTAL	161.966	140.579	140.098

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	NA	NA	NA
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES
		TOTAL (B)	NA	NA	NA
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)		1.264	0.795	0.553
Less	FINANCIAL EXPENSES (D)		0.206	0.002	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.058	0.793	0.553
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.119	0.160	0.216
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.939	0.633	0.337
Less	TAX (H)		0.250	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		0.689	0.633	0.337
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		4.818	4.185	3.848
	Balance Carried to the B/S		5.507	4.818	4.185
	Earnings / (Loss) Per Share (Rs.)		0.21	0.22	0.11

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2013	31.03.2012	31.03.2011
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	0.58	0.45	0.24
Return on Investment (ROI) (PBT/Networth)		0.01	0.00	0.00
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		20.78	84.41	59.34

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	29.390	29.390	32.330
Reserves & Surplus	109.144	109.779	122.227
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	1.200
Net worth	138.534	139.169	155.757
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.185
Total borrowings	0.000	0.000	0.185
Debt/Equity ratio	0.000	0.000	0.001

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	No
8]	Designation of contact person	No
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	Yes
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	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 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

BACKGROUND

Subject is a non-banking finance company engaged in the business of purchase and sales of share, advancing of loan, dealing in derivatives and commodities and real estate.

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
From Related Parties	0.185	0.000
Total	0.185	0.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10542991	27/12/2014	235,000,000.00	State Bank of India	Specialsed Commercial Branch, S-2/638 'A', Chandra Chambers, Club Road, Varanasi, Uttar Pradesh - 221002, INDIA	C40414765
2	10523422	15/09/2014	250,000,000.00	State Bank of India	SME Branch, Branch Code - 6519, VARANASI, Uttar Pradesh - 221002, INDIA	C25051566
3	10471972	30/01/2014 *	393,500,000.00	Oriental Bank of Commerce	Nachan Road, Benachity, Durgapur, West Bengal - 713213, INDIA	B98134919

* Date of charge modification

FIXED ASSETS

• Office equipment
• Computer and Accessories
• Motor Cycle
• car

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.66.14
UK Pound	1	Rs.98.69
Euro	1	Rs.72.55

INFORMATION DETAILS

Analysis Done by :	HNA
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.