MIRA INFORM REPORT

Report No. :	308698
Report Date :	23.02.2015

IDENTIFICATION DETAILS

Name :	ALLOFTEXTILES ONLINE LIMITED
Registered Office :	2A, Ganesh Chandra Avenue, 511, Commerce House, 5^th Floor, Kolkata – 700013, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.10.2001
Com. Reg. No.:	21-093866
Capital Investment / Paid-up Capital :	Rs. 14.680 Millions
CIN No.: [Company Identification No.]	U72900WB2001PLC093866
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALA04711A
PAN No.: [Permanent Account No.]	AADCA4297R
Legal Form :	A Closely Held Public Limited liability Company
Line of Business :	Trader of Textile.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 45000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s small scales of business operations and low reserves of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Shree Mohan
Designation :	Accountant
Contact No.:	91-33-22132473
Date :	18.02.2015

LOCATIONS

Registered Office :	2A, Ganesh Chandra Avenue, 511, Commerce House, 5^th Floor, Kolkata – 700013, West Bengal, India
Tel. No.:	91-33-22132473
Fax No.:	Not Available
E-Mail :	pkmcal@rahulcomputex.com
Website :	http://www.alloftextiles.com

DIRECTORS

AS ON 22.09.2014

Name :

Sangeet Pawankumar Modi

Designation :

Director

Address :

303 Mittal Apartments Juhu Parle Scheme Ruia Bag Vilee Parle (W), Mumbai – 400049, Maharashtra, India

Date of Appointment :

19.10.2001

DIN No. :

00009920

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	U74999MH1994PTC082614	COMPU-TREE INFOTECH Private LIMITED	Whole-time director	02/11/1994	02/11/1994	-	Active	NO
2	U17110MH1996PTC100596	TEX-TREE COMMODITIES PRIVATE LIMITED	Director	27/06/1996	27/06/1996	-	Active	NO
3	U72900WB2001PLC093866	ALLOFTEXTILES ONLINE LIMITED	Director	19/10/2001	19/10/2001	-	Active	NO
4	U30000MH1996PLC097920	VALUE TECHNOLOGIES LIMITED	Director	27/02/2002	27/02/2002	27/01/2012	Active	NO
5	U72900MH2007PTC174439	APANTEC SOLUTIONS PRIVATE LIMITED	Director	24/09/2007	24/09/2007	-	Active	NO
6	U72900MH2008PTC177546	INFINITE ONLINE SHOPPING PRIVATE LIMITED	Director	08/01/2008	08/01/2008	20/10/2011	Active	NO
7	U70102MH2010PTC211479	V-ZONES REALITIES PRIVATE LIMITED	Director	28/12/2010	28/12/2010	-	Active	NO
8	U64200MH1996PLC103469	ORIGINET TECHNOLOGIES LIMITED	Director	16/05/2012	21/02/2011	-	Active	NO

Name :

Mr. Pramod Kumar Modi

Designation :

Director

Address :

16/1 Dover Lane, Kolkata – 700029, West Bengal, India

Date of Appointment :

19.10.2001

DIN No. :

00221479

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	U72100MH1988PTC048182	RAHUL COMPUTEX PRIVATE LIMITED	Director	01/01/1990	01/01/1990	-	Active	NO
2	U74950MH1990PTC058829	MASTER POLYPACK PRIVATE LIMITED	Director	07/11/1990	07/11/1990	-	Active	NO
3	U17121WB1992PTC054620	PRADIT FASHIONS PRIVATE LIMITED	Director	24/01/1994	24/01/1994	-	Active	NO
4	U70200WB1993PTC057706	SUPERB PROPERTIES PVT LTD	Director	23/10/1998	23/10/1998	-	Active	NO
5	U17116MH1980PLC023402	SANGEET SYNTEX LIMITED	Director	15/11/1999	15/11/1999	-	Active	NO
6	U72900WB2001PLC093866	ALLOFTEXTILES ONLINE LIMITED	Director	19/10/2001	19/10/2001	-	Active	NO
7	U70101WB2006PLC110906	BENGAL INTEGRATED TEXTILE PARK LIMITED	Director	29/07/2006	29/07/2006	-	Active	NO
8	U27107MH1995PLC084593	SINDIA STEELS LIMITED	Director	02/01/2007	02/01/2007	-	Active	NO
9	U01403MH2007PLC172053	IDM AGRO BIO - TECH LIMITED	Director	28/06/2007	28/06/2007	-	Active	NO

Name :

Mr. Abhishek Modi

Designation :

Additional Director

Address :

P – 201, Cit Road, Scheme Viim, Kolkata – 700054, West Bengal, India

Date of Appointment :

18.12.2007

DIN No. :

01946359

Name :

Mr. Vinod Kumar Modi

Designation :

Director

Address :

Kantilal Apartments C – Wing, Mount Merry Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Appointment :

19.10.2001

DIN No. :

00696901

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	U72100MH1988PTC048182	RAHUL COMPUTEX PRIVATE LIMITED	Director	21/07/1988	21/07/1988	-	Active	NO
2	U74950MH1990PTC058829	MASTER POLYPACK PRIVATE LIMITED	Director	07/11/1990	07/11/1990	-	Active	NO
3	U24100MH1970PTC014666	HIPARI CHEMICALS PRIVATE LIMITED	Director	06/12/1990	06/12/1990	-	Active	NO
4	U22210MH1986PTC040690	CHARTERED PUBLICATION PRIVATE LIMITED	Director	01/08/1991	01/08/1991	-	Active	NO
5	U27107MH1995PLC084593	SINDIA STEELS LIMITED	Director	13/01/1995	13/01/1995	-	Active	NO
6	U72900WB2001PLC093866	ALLOFTEXTILES ONLINE LIMITED	Director	19/10/2001	19/10/2001	-	Active	NO
7	U01403MH2007PLC172053	IDM AGRO BIO - TECH LIMITED	Director	28/06/2007	28/06/2007	-	Active	NO
8	U27107MH2009PTC190320	SUYOG STEELS PRIVATE LIMITED	Additional director	06/03/2009	06/03/2009	12/03/2010	Active	NO
9	U17120MH1993PTC074048	TULIP POLYMERS PRIVATE LIMITED	Director	30/09/2010	06/01/2010	-	Active	NO
10	U25209MH1994PTC081786	LOTUS LABORATORIES PRIVATE LIMITED	Director	30/09/2010	06/01/2010	-	Active	NO

Name :

Mr. Subbiah Sekar

Designation :

Director

Address :

Door No. 4, 7^th Cross, Krishna Colony, Singanallur Coimbatore – 641005, Tamilnadu, India

Date of Appointment :

28.01.2006

DIN No. :

00869718

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	U51311TZ2003PTC010893	SVN TEXTILES PRIVATE LIMITED	Managing director	01/10/2011	12/12/2003	-	Active	NO
2	L17111TZ1994PLC004797	SALONA COTSPIN LIMITED	Director	26/02/2005	26/02/2005	17/05/2012	Active	NO
3	U72900WB2001PLC093866	ALLOFTEXTILES ONLINE LIMITED	Director	28/01/2006	28/01/2006	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shree Mohan
Designation :	Accountant

MAJOR SHAREHOLDERS

As on 22.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Rahul Computex Private Limited, India	2494000	16.99
Vinod Kumar Modi	4621000	31.48
Pramod Kumar Modi	4201000	28.62
Sangeet Modi	1000	0.01
Manjula Modi	1471000	10.02
Nirmala Modi	421000	2.87
Manav Modi	1000	0.01
Praniti Goenka	420000	2.86
Pradit Modi	420000	2.86
Aditi Dhelia	630000	4.29
Total	14680000	100.00

As on 22.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	16.99
Directors or relatives of Directors	83.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Textile.
Products :	Textile
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

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

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	ICICI Bank Limited
Branch Address	R. N. Mukherjee Road
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

Auditors :
Name :	S Murarka and Company Chartered Accountants
Address :	2 A Ganesh Chandra Avenue, 4^th Floor, Room No. 5, Kolkata – 700013, West Bengal, India
PAN No.:	ADLPM3321Q
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 22.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Re.1/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14680000	Equity Shares	Re.1/- each	Rs. 14.680 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	14.680	14.680	14.680
(b) Reserves & Surplus	1.195	1.838	1.876
(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)	15.875	16.518	16.556
(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	0.000
Total Non-current Liabilities (3)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.068	1.174	0.557
(c) Other current liabilities	0.294	0.109	0.101
(d) Short-term provisions	0.761	0.993	0.333
Total Current Liabilities (4)	1.123	2.276	0.991
TOTAL	16.998	18.794	17.547
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.126	0.178	0.288
(ii) Intangible Assets	6.344	8.844	11.104
(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	2.498	1.149	1.239
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.500	0.500	0.500
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	9.468	10.671	13.131
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	2.405	2.627	2.243
(d) Cash and cash equivalents	3.927	0.795	0.505
(e) Short-term loans and advances	0.000	2.933	0.550
(f) Other current assets	1.198	1.768	1.118
Total Current Assets	7.530	8.123	4.416
TOTAL	16.998	18.794	17.547

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	6.770	7.300	5.102
	Other Income	0.267	0.195	0.073
	TOTAL (A)	7.037	7.495	5.175
Less	EXPENSES
	Employees benefits expense	1.666	1.400	1.487
	Other expenses	2.701	2.794	2.451
	TOTAL (B)	4.367	4.194	3.938
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	2.670	3.301	1.237
Less	FINANCIAL EXPENSES (D)	0.000	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	2.670	3.301	1.237
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.052	0.090	0.076
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	2.618	3.211	1.161
Less	TAX (H)	0.761	0.989	0.330
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	1.857	2.222	0.831
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (J)	1.838	1.876	1.045
Less	Good will written off (K)	2.500	2.260	0.000
	Balance Carried to the B/S (J+K+L-M)	1.195	1.838	1.876
	Earnings / (Loss) Per Share (Rs.)	0.13	0.15	0.06

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/ Sales)	(%)	27.43	30.44	16.29
Operating Profit Margin (PBDIT/Sales)	(%)	39.44	45.22	24.25
Return on Total Assets (PBT/Total Assets}	(%)	18.06	18.20	7.12
Return on Investment (ROI) (PBT/Networth)		0.16	0.19	0.07
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		6.71	3.57	4.46

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	14.680	14.680	14.680
Reserves & Surplus	1.876	1.838	1.195
Net worth	16.556	16.518	15.875
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	5.102	7.300	6.770
		43.081	(7.260)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	5.102	7.300	6.770
Profit	0.831	2.222	1.857
	16.29%	30.44%	27.43%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	---------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	No
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

PROSPECTS AND OUTLOOK

The Company’s business includes:

1. The Company continues to collect important news data information of textile business as long term prospective. However, the Company has not been able to market website due to involvement of substantial promotional expenses.

2. Sourcing and Marketing:

The Company delivers main income from its business of marketing yarns and garments from subcontinent to international market. The Company has been able to develop good relationship with its human touch and technology all over the world including USA, France, Spain, Ezypt, Vietnam, Korea, Singapore, Pakistan, Bangladesh, Turkey, Italy, China etc. and expect to keep on adding revenues in future.

VIEW INDEX OF CHARGES: No Charges Exist for Company

FIXED ASSETS

• Computer System
• Furniture
• Air conditioners
• Motor Car
• Office Equipment

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. 62.26
UK Pound	1	Rs. 96.01
Euro	1	Rs. 70.72

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUC
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		32

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.