MIRA INFORM REPORT

Report No. :	309362
Report Date :	24.02.2015

IDENTIFICATION DETAILS

Name :	GO GO TRENDS PRIVATE LIMITED (w.e.f. 30.12.2014 )
Formerly Known As :	ANANDA POORNIMA APPARELS PRIVATE LIMITED (w.e.f. 10.06.2005) POORNIMA ELECTRONICS PRIVATE LIMITED
Registered Office :	Plot No 5, KHB Industrial Area, Yelahanka, Bangalore – 560106, Karnataka
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.08.1984
Com. Reg. No.:	08-006277
Capital Investment / Paid-up Capital :	Rs. 10.000 Millions
CIN No.: [Company Identification No.]	U85110KA1984PTC006277
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 :	Manufacturer of Textiles Garments, Readymade Garments.
No. of Employees :	15 (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 :	Frequent Irregularities in business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a company having moderate track. Mr. Sudhakar (Accounts Department) confirmed that company has changed its name to “GO GO TRENDS PRIVATE LIMITED” on “30^th December, 2014”. He further confirmed that the company had not carried out any business operations from year 2008 to year 2014 and claimed that company has started its business operations from January 2015. The company has reported some other income and non-operating loss for the year 2013-14. Business is active. Payments are reported to be 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 – 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

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Sudhakar
Designation :	Accounts Department
Contact No.:	91-80-28562478
Date :	23.02.2015

LOCATIONS

Registered Office / Factory 1:	Plot No 5, KHB Industrial Area, Yelahanka, Bangalore – 560106, Karnataka, India
Tel. No.:	91-80-28562478 / 51524103
Fax No.:	91-80-28461395
E-Mail :	ac73@gogoindia.com
Website :	http://gogoindia.com
Corporate Office :	468/469, 1^st Floor, Avinashi Main Road, Thanner Pandal, Tirupur – 641652, Tamilnadu, India
Head Office / Factory 2:	No. 6 K.H.B. Industrial Area, II Cross, Yelahanka, Bangalore – 560 106, Karnataka, India
Factory 3 :	No.86/A,Industrial Subrub, 2nd phase, Yeswanthpur, Bangalore-560022, Karnataka, India
Factory 4 :	No.207 A B D E and F,  Hassan Growth Centre, Nagathavalli Village, Holenarasipura Road, Hassan-573 201, Karnataka, India
Liaison Office :	Located At: Gurgaon  Tirupur

DIRECTORS

As on 20.08.2014

Name :

Shyamsunder Gopiram Goenka

Designation :

Director

Address :

"Madhukunj", No.118, 7th Cross, 9th Main RMV Extension, Sadashivanagar, Bangalore - 560 080, Karnataka, India

Date of Birth/Age :

10.06.1937

Date of Appointment :

31.01.2005

DIN No.:

00660320

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	U51311MH1986PTC039791	GO GO EXPORT PVT LTD	Director	12/05/1986	12/05/1986	-	Active	NO
2	U17100MH1996PTC102875	CREATIVE TEXTILE MILLS PRIVATE LIMITED	Director	22/11/1996	22/11/1996	21/05/2012	Active	NO
3	U85110KA1984PTC006277	GO GO TRENDS PRIVATE LIMITED	Director	31/01/2005	31/01/2005	-	Active	NO
4	U70200KA2005PTC035652	COSMIC RENTALS PRIVATE LIMITED	Director	21/02/2005	21/02/2005	-	Active	NO
5	U70200KA2005PTC035660	TRANSCENDENTAL RENTALS PRIVATE LIMITED	Director	21/02/2005	21/02/2005	-	Active	NO
6	U70200KA2005PTC035877	SUPRAMENTAL RENTALS PRIVATE LIMITED	Director	21/03/2005	21/03/2005	09/04/2011	Active	NO
7	U07010KA2005PTC035873	BLISS RENTALS PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO
8	U70101KA2005PTC037276	CREATIVE RENTALS PRIVATE LIMITED	Director	21/09/2005	21/09/2005	-	Active	NO
9	U17121KA2006PTC039540	GO GO TEXTILES BANGALORE PRIVATE LIMITED	Director	23/05/2006	23/05/2006	-	Active	NO
10	U17121KA2006PTC039766	GO GO APPAREL PRIVATE LIMITED	Director	21/06/2006	21/06/2006	-	Active	NO
11	U74899DL1978NPL008877	APPAREL EXPORT PROMOTION COUNCIL.	Director	11/09/2006	11/09/2006	30/09/2009	Active	NO
12	U17120MH2008PTC180832	GO GO INTERNATIONAL PRIVATE LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO

Name :

Rajeev Shyamsunder Goenka

Designation :

Director

Address :

"Madhukunj", No.118, 7th Cross, 9th Main RMV Extension, Sadashivanagar, Bangalore - 560 080, Karnataka, India

Date of Birth/Age :

23.12.1958

Date of Appointment :

31.01.2005

DIN No.:

00660573

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	U51311MH1986PTC039791	GO GO EXPORT PVT LTD	Director	12/05/1986	12/05/1986	-	Active	NO
2	U85110KA1984PTC006277	GO GO TRENDS PRIVATE LIMITED	Director	31/01/2005	31/01/2005	-	Active	NO
3	U70200KA2005PTC035652	COSMIC RENTALS PRIVATE LIMITED	Director	21/02/2005	21/02/2005	-	Active	NO
4	U70200KA2005PTC035660	TRANSCENDENTAL RENTALS PRIVATE LIMITED	Director	21/02/2005	21/02/2005	-	Active	NO
5	U70200KA2005PTC035877	SUPRAMENTAL RENTALS PRIVATE LIMITED	Director	21/03/2005	21/03/2005	19/04/2011	Active	NO
6	U07010KA2005PTC035873	BLISS RENTALS PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO
7	U70101KA2005PTC037276	CREATIVE RENTALS PRIVATE LIMITED	Director	21/09/2005	21/09/2005	-	Active	NO
8	U17121KA2006PTC039540	GO GO TEXTILES BANGALORE PRIVATE LIMITED	Director	23/05/2006	23/05/2006	-	Active	NO
9	U17121KA2006PTC039766	GO GO APPAREL PRIVATE LIMITED	Director	21/06/2006	21/06/2006	-	Active	NO
10	U17120MH2008PTC180832	GO GO INTERNATIONAL PRIVATE LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO
11	U74899DL1978NPL008877	APPAREL EXPORT PROMOTION COUNCIL.	Director	26/09/2012	30/09/2009	-	Active	NO

Name :

Achal Shyamsunder Goenka

Designation :

Director

Address :

"Madhukunj", No.118, 7th Cross, 9th Main RMV Extension, Sadashivanagar, Bangalore - 560 080, Karnataka, India

Date of Birth/Age :

05.06.1964

Date of Appointment :

31.01.2005

DIN No.:

00660650

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	U85110KA1984PTC006277	GO GO TRENDS PRIVATE LIMITED	Director	31/01/2005	31/01/2005	-	Active	NO
2	U70200KA2005PTC035652	COSMIC RENTALS PRIVATE LIMITED	Director	21/02/2005	21/02/2005	-	Active	NO
3	U70200KA2005PTC035660	TRANSCENDENTAL RENTALS PRIVATE LIMITED	Director	21/02/2005	21/02/2005	-	Active	NO
4	U70200KA2005PTC035877	SUPRAMENTAL RENTALS PRIVATE LIMITED	Director	21/03/2005	21/03/2005	09/04/2011	Active	NO
5	U07010KA2005PTC035873	BLISS RENTALS PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO
6	U70101KA2005PTC037276	CREATIVE RENTALS PRIVATE LIMITED	Director	21/09/2005	21/09/2005	-	Active	NO
7	U17121KA2006PTC039766	GO GO APPAREL PRIVATE LIMITED	Director	21/06/2006	21/06/2006	-	Active	NO
8	U17120MH2008PTC180832	GO GO INTERNATIONAL PRIVATE LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sudhakar
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 20.08.2014

Names of Shareholders	No. of Shares
Shyamsunder Gopiram Goenka	3,337
Achal Shyamsunder Goenka	3,329
Rajeev Shyamsunder Goenka	3,334
Total	10,000

Equity Share Break up (Percentage of Total Equity)

As on 20.08.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Textiles Garments, Readymade Garments.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, Cheque and Credit
Purchasing :	Cash, Cheque and Credit

PRODUCTION STATUS : NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

15 (Approximately)

Bankers :

• Axis Bank Limited
• IDBI Bank Limited
• Standard Chartered Bank

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Term loans from Bank * [Secured against hypothecation of Fixed Assets] * The company has been guaranteed by the directors	0.000	1.683
Total	0.000	1.683

Banking Relations :
Auditors :
Name :	Dhariwal and Sreenivas Chartered Accountants
Address :	#10, (Old no 144) South Park Road, (Opp. Seshadripuram College) Nehru Nagar, Bangalore – 560020, Karnataka, India
Tel. No.:	91-80-42479333 / 23310591 / 23445851
Fax No.:	91-80-42479302 / 23367564 / 42479300
E-Mail :	dns@dnsconsulting.net
Website :	www.dnsconsulting.net
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFD7609L
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	---

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.1000/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.1000/- each	Rs.10.000 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	10.000	10.000	10.000
(b) Reserves & Surplus	(4.987)	0.496	6.530
(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)	5.013	10.496	16.530
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	1.683	10.083
(b) Deferred tax liabilities (Net)	12.353	12.184	11.088
(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)	12.353	13.867	21.171
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	16.911	6.223	0.000
(c) Other current liabilities	75.568	83.504	81.551
(d) Short-term provisions	0.658	1.554	1.512
Total Current Liabilities (4)	93.137	91.281	83.063
TOTAL	110.503	115.644	120.764
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	77.816	82.441	87.085
(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	26.250	26.250	26.250
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	5.729	6.178	6.179
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	109.795	114.869	119.514
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.559	0.394	0.631
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.149	0.381	0.619
Total Current Assets	0.708	0.775	1.250
TOTAL	110.503	115.644	120.764

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
SALES
Income	0.000	0.353	23.473
Other Income	1.098	2.097	9.105
TOTAL (A)	1.098	2.450	32.578
EXPENSES
Purchases of Stock-in-Trade	0.000	0.000	19.192
Employees benefits expense	0.000	0.218	3.752
Other expenses	1.205	0.684	1.182
TOTAL (B)	1.205	0.902	24.126
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	(0.106)	1.548	8.452
FINANCIAL EXPENSES (D)	0.582	1.841	3.017
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(0.688)	(0.293)	5.435
DEPRECIATION/ AMORTISATION (F)	4.625	4.644	4.644
PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(5.313)	(4.937)	0.791
TAX (H)	0.169	1.096	0.666
PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(5.482)	(6.033)	0.125
Earnings / (Loss) Per Share (Rs.)	(548.20)	(603.30)	--

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.00	(1709.07)	0.53
Operating Profit Margin (PBIDT/Sales)	(%)	0.00	438.53	36.01
Return on Total Assets (PBT/Total Assets}	(%)	(6.31)	(5.52)	0.84
Return on Investment (ROI) (PBT/Networth)		(1.06)	(0.47)	0.05
Debt Equity Ratio (Total Debt /Networth)		0.00	0.16	0.61
Current Ratio (Current Asset/Current Liability)		0.01	0.01	0.02

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	10.000	10.000	10.000
Reserves & Surplus	6.530	0.496	(4.987)
Share Application money pending allotment	0.000	0.000	0.000
Net worth	16.530	10.496	5.013
long-term borrowings	10.083	1.683	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	10.083	1.683	0.000
Debt/Equity ratio	0.610	0.160	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	32.578	2.450	1.098
		(92.480)	(55.184)

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	32.578	2.450	1.098
Profit/Loss	0.125	(6.033)	(5.482)
	0.38%	(246.24%)	(499.27%)

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	Yes
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	Yes
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	Yes
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	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10415907	14/03/2014 *	117,800,000.00	INDUSIND BANK LTD.	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARA  SHTRA - 411001, INDIA	C06727119

* Date of charge modification

FINANCIAL AND BUSINESS PERFORMANCE

The Company earned a total income of Rs. 1.098 Millions compared to the previous year figure of Rs. 2.450 Millions. The Company's total expenditure during the year was Rs 6.412 Millions compared to Rs 7.388 Millions during the previous year. The Company recorded a net loss of Rs 54.82 Lakhs compared to a net loss of Rs 6.033 Millions for the previous financial year. The Directors are expecting better operational results in the coming years.

FIXED ASSETS

• Factory Building
• Machinery
• Air Conditioner
• Furniture and Fixture
• Office Equipment
• Industrial Land
• Computer
• Factory 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 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.62.18
UK Pound	1	Rs.95.72
Euro	1	Rs.70.76

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	1
--MARGINS	-5~5	----
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		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	--

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.