MIRA INFORM REPORT

Report No. :	303742
Report Date :	24.01.2015

IDENTIFICATION DETAILS

Name :	SRP BUILDWELL PRIVATE LIMITED

Registered Office :	111, Shri Jamuna Dham Goverdhan Road, Mathura – 281004, Uttar Pradesh

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	21.09.2004

Com. Reg. No.:	20-044661

Capital Investment / Paid-up Capital :	Rs. 5.400 Millions

CIN No.: [Company Identification No.]	U51909UP2004PTC044661

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 :	Construction Activities.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 120000

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. There seems sharp dip in the turnover and profit of the company during Financial Year 2014 however net worth of the company is satisfactory. General financial position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. The company can be considered normal 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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

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.

LOCATIONS

Registered Office :	111, Shri Jamuna Dham Goverdhan Road, Mathura – 281004, Uttar Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	cs@shrigroup.net

DIRECTORS

As on 27.09.2014

Name :

Mr.Ram Agrawal

Designation :

Director

Address :

13, Jaishri Colony, Shahganj Darwaza, Mathura, Uttar Pradesh, India

Date of Birth/Age :

01.10.1972

Date of Appointment :

20.09.2010

DIN No.:

01913459

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	U74899DL1992PTC048612	DHOLPUR OILS FOODS PROCESSING PRIVATE LIMITED	Director	01/01/2005	01/01/2005	03/11/2014	Active	NO
2	U74999UP2005PTC029592	SHRI JEE MEGAMART PRIVATE LIMITED	Director	15/05/2006	15/05/2006	21/03/2007	Active	NO
3	U72300UP1994PLC017271	SJP REAL ESTATE LIMITED	Director	24/09/2008	26/11/2007	-	Amalgamated	NO
4	U65991UP2005PTC065453	AMBER VANIJYA PRIVATE LIMITED	Director	14/02/2008	14/02/2008	-	Active	NO
5	U70102UP2007PTC038275	RKV REAL ESTATES PRIVATE LIMITED	Director	05/09/2008	26/05/2008	-	Active	NO
6	U70100UP2007PTC039596	KRT REAL ESTATES PRIVATE LIMITED	Director	15/09/2009	05/09/2008	-	Active	NO
7	U51909UP2004PTC044661	SRP BUILDWELL PRIVATE LIMITED	Director	20/09/2010	16/09/2009	-	Active	NO
8	U70109UP2007PTC038290	RH REAL ESTATES PRIVATE LIMITED	Director	18/09/2010	20/02/2010	-	Active	NO
9	U70102UP2010PLC040335	SJP GLOBAL LIMITED	Whole-time director	01/10/2014	23/04/2010	-	Active	NO
10	U55204UP2007PTC038276	SJP HOTELS &RESORTS PRIVATE LIMITED	Director	29/09/2012	21/03/2012	-	Active	NO
11	U70102UP2010PLC041520	SJP INFRACON LIMITED	Director	29/09/2012	29/09/2012	-	Active	NO
12	U70102UP2012PTC053213	DECENT BUILDWELL PRIVATE LIMITED	Director	17/08/2013	09/04/2013	-	Active	NO
13	U70102UP2012PTC053434	PRASU INFRABUILD PRIVATE LIMITED	Director	17/08/2013	09/04/2013	-	Active	NO
14	U45201UP2008PLC036495	SJP REAL ESTATE DEVELOPERS LIMITED	Director	27/09/2014	27/09/2014	-	Active	NO
15	U70102UP2014PTC066812	KAMROOP INFRABUILD PRIVATE LIMITED	Director	03/11/2014	03/11/2014	-	Active	NO
16	U45400UP2008PLC035004	S J P RESIDENCY CONSORTIUM LIMITED	Additional director	10/11/2014	10/11/2014	-	Active	NO

Name :

Mr. Sudeep Kumar Agrawal

Designation :

Director

Address :

82, Shri Jamuna Dham, Goverdhan Road, Mathura, Uttar Pradesh, India

Date of Birth/Age :

04.12.1965

Date of Appointment :

20.09.2010

DIN No.:

00430356

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	U72300UP1994PLC017271	SJP REAL ESTATE LIMITED	Whole-time director	01/06/2011	31/03/2004	-	Amalgamated	NO
2	U45400UP2008PLC035004	S J P RESIDENCY CONSORTIUM LIMITED	Director	15/04/2008	15/04/2008	-	Active	NO
3	U70100UP2007PTC039596	KRT REAL ESTATES PRIVATE LIMITED	Director	15/09/2009	05/09/2008	-	Active	NO
4	U45201UP2008PLC036495	SJP REAL ESTATE DEVELOPERS LIMITED	Director	23/12/2008	23/12/2008	-	Active	NO
5	U51909UP2004PTC044661	SRP BUILDWELL PRIVATE LIMITED	Director	20/09/2010	09/01/2010	-	Active	NO
6	U70102UP2010PLC041520	SJP INFRACON LIMITED	Whole-time director	01/10/2014	29/07/2010	-	Active	NO
7	U70102UP2010PLC040335	SJP GLOBAL LIMITED	Director	01/10/2014	01/06/2012	-	Active	NO
8	U70102UP2014PTC066851	KAMROOP INFRACON PRIVATE LIMITED	Director	05/11/2014	05/11/2014	-	Active	NO

Name :

Mr. Suresh Chand Kaushik

Designation :

Director

Address :

12-B, Geeta Enclave, Krishna Nagar, Mathura – 281004, Uttar Pradesh, India

Date of Birth/Age :

01.04.1972

Date of Appointment :

20.09.2010

DIN No.:

00989436

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	U51909MH2002PTC135372	SAMYAK COMMERCIALS PRIVATE LIMITED	Director	31/01/2003	31/01/2003	28/08/2008	Active	NO
2	U70100UP1995PTC059579	ELLORA HOUSING AND DEVELOPMENT PRIVATE LIMITED	Director	18/02/2003	18/02/2003	-	Active	NO
3	U72200UP2003PTC027867	RENUSHKA INFOTECH PRIVATE LIMITED	Director	10/09/2003	10/09/2003	-	Strike off	NO
4	U72300UP1994PLC017271	SJP REAL ESTATE LIMITED	Director	24/09/2008	26/11/2007	-	Amalgamated	NO
5	U51109UP2005PTC066846	DAMINI VANIJYA PRIVATE LIMITED	Director	14/02/2008	14/02/2008	-	Active	NO
6	U51909UP2004PTC044661	SRP BUILDWELL PRIVATE LIMITED	Director	20/09/2010	09/01/2010	-	Active	NO
7	U51109UP2007PTC065454	BISHNU BARTER PRIVATE LIMITED	Director	16/03/2010	16/03/2010	-	Active	NO
8	U70102UP2010PLC040335	SJP GLOBAL LIMITED	Director	01/10/2014	23/04/2010	-	Active	NO
9	U70102UP2010PLC041520	SJP INFRACON LIMITED	Managing director	01/10/2014	29/07/2010	-	Active	NO
10	U70102UP2012PTC053213	DECENT BUILDWELL PRIVATE LIMITED	Director	22/10/2012	22/10/2012	-	Active	NO
11	U70102UP2012PTC053434	PRASU INFRABUILD PRIVATE LIMITED	Director	05/11/2012	05/11/2012	-	Active	NO
12	U70102UP2014PTC066851	KAMROOP INFRACON PRIVATE LIMITED	Director	05/11/2014	05/11/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2014

Names of Shareholders		No. of Shares
SJP Global Limited		539300
Sudeep Kumar Agrawal		100
Suresh Chand Kaushik S/o Late Mohan Lal Kaushik		100
Pradeep Kumar Agrawal S/o Late Jamuna Prasad Agrawal		100
Ram Agrawal S/o Uma Shanker Agrawal		100
Narendera Pal Singh S/o. Prahalad Singh		100
Amit Singh S/o N.P. Singh		100
Shekhar Agrawal S/o Pradeep Kumar Agrawal		100
Total		540000

As on 27.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	99.88
Directors or relatives of Directors	0.10
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :	Construction Activities.

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :	Not Available

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Divulged

Bankers :

Banker Name 1	Allahabad Bank
Branch Address	Tilak Dwar, Mathura – 281001, Uttar Pradesh, India

Banker Name 2	State Bank of India
	RASMECCC, Main Branch, Main Building Janction Road, Mathura - 281001, Uttar Pradesh, 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

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Vehicle Loan	0.000	0.905
Total	0.000	0.905

Auditors :
Name :	P.L. Tandon and Company Chartered Accountant
Address :	West Cott Building, Mahatma Gandhi Road, Kanpur - 208001, Uttar Pradesh, India
Tel. No.:	91-512-2366774/ 2367262
Fax No.:	91-512-3022991
Email :	Pltandon1957@rediffmail.com Pltandon1957@gmail.com
PAN No.:	AAAFP9919M

Memberships :	Not Available

Collaborators :	Not Available

Holding Company :	SJP Global Limited CIN No.: U70102UP2010PLC040335

Enterprises over which person exercise significant influence :	Hiway Service Station Nath Prasad Maida Wale Petrol Pump SJP Infracon Limited

CAPITAL STRUCTURE

As on 27.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

600000	Equity Shares	Rs.10/- each	Rs. 6.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

540000	Equity Shares	Rs.10/- each	Rs. 5.400 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	5.400	5.400	5.400
(b) Reserves & Surplus	37.715	31.283	13.730
(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)	43.115	36.683	19.130

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.905	27.444
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	16.538	4.665	5.036
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	16.538	5.570	32.480

(4) Current Liabilities
(a) Short term borrowings	24.746	64.172	0.000
(b) Trade payables	2.998	11.757	25.141
(c) Other current liabilities	7.200	37.386	96.457
(d) Short-term provisions	0.817	4.905	3.790
Total Current Liabilities (4)	35.761	118.220	125.388

TOTAL	95.414	160.473	176.998

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.073	4.025	5.140
(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)	0.285	0.258	0.200
(d) Long-term Loan and Advances	0.258	0.268	0.064
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3.616	4.551	5.404

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	70.958	96.815	147.736
(c) Trade receivables	4.569	39.653	0.000
(d) Cash and cash equivalents	15.725	18.471	18.064
(e) Short-term loans and advances	0.546	0.983	5.794
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	91.798	155.922	171.594

TOTAL	95.414	160.473	176.998

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012

	TOTAL INCOME	155.164	311.116	185.769

Less	EXPENSES TOTAL	145.714	284.840	169.293

	PROFIT/ (LOSS) BEFORE TAX	9.450	26.276	16.476

Less	TAX	3.018	8.722	5.745

	PROFIT/ (LOSS) AFTER TAX	6.432	17.554	10.731

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	31.283	13.729	2.998

	BALANCE CARRIED TO THE B/S	37.715	31.283	13.729

	Earnings Per Share (Rs.)	11.91	32.51	19.87

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012

Return on Total Assets (PBT/Total Assets}	(%)	9.93	16.40	9.32

Return on Investment (ROI) (PBT/Networth)		0.22	0.72	0.86

Debt Equity Ratio (Total Debt /Networth)		0.57	1.77	1.43

Current Ratio (Current Asset/Current Liability)		2.57	1.32	1.37

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	5.400	5.400	5.400
Reserves & Surplus	13.730	31.283	37.715
Net worth	19.130	36.683	43.115

long-term borrowings	27.444	0.905	0.000
Short term borrowings	0.000	64.172	24.746
Total borrowings	27.444	65.077	24.746
Debt/Equity ratio	1.435	1.774	0.574

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)
Total Income	185.769	311.116	155.164
		67.475	(50.127)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	185.769	311.116	155.164
Profit	10.731	17.554	6.432
	5.78%	5.64%	4.15%

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	No
10]	Designation of contact person	No
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	Yes
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	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

NOTE: Registered address of the company has been shifted from 2662, Gali Jatwara, Naya Bazar, New Delhi, Delhi, India to the present address w.e.f. 28.03.2011.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
From Related Parties	24.746	64.172
Total	24.746	64.172

INDEX OF CHARGES

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

CHARGE HOLDER

ADDRESS

Service Request Number (SRN)

10528309

05/11/2014 *

45,000,000.00

STATE BANK OF INDIA

RASMECCC, MAIN BRANCH MAIN BUILDING JANCTION RAOD,
MATHURA, MATHURA, UTTAR PRADESH - 281001, INDIA

C34443689

* Date of charge modification

OVERALL PERFORMANCE

The overall performance of the business of the company is satisfactory. The development and construction work of the project Shri Radha NRI Greens at Vrindaban, Mathura, Uttar Pradesh was satisfactory and company is planning to complete the project in current financial year in all respect.

The company recognized its total income Rs. 155.164 Millions against Rs 311.0116 Millions in year 2012-2013. Profit before Tax was recognized of Rs. 9.450 Millions against Rs. 26.277 Millions 2012-2013.

OPERATIONS:

Internal – External Development work and Construction work of project Shri Radha NRI Greens is near to completion.

The director are confident of future growth opportunities and taking steps to diversify other Cities.

FIXED ASSETS

Plant and Equipment
Furniture and Fixture
Vehicle
Office Equipment
Computer

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.61.50
UK Pound	1	Rs.92.16
Euro	1	Rs.69.62

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	KLS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	4
--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		43

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.

MIRA INFORM REPORT

Unit