MIRA INFORM REPORT

Report No. :	325533
Report Date :	02.06.2015

IDENTIFICATION DETAILS

Name :	LUDWIG H.O. SCHROEDER & RUDOLPH HAMANN OHG
Registered Office :	Pickhuben 6 D 20457 Hamburg
Country :	Germany
Date of Incorporation :	24.10.1907
Com. Reg. No.:	HRA 72944
Legal Form :	General Partnership
Line of Business :	Wholesale of coffee, tea, cocoa and spices
No. of Employees :	7

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

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)
Germany	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GERMANY - ECONOMIC OVERVIEW

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 5.3% in 2014. The new German government introduced a minimum wage of about $11.60 (8.50 euros) per hour to take effect in 2015. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in 2012 Germany reached a budget surplus of 0.1%. The budget was essentially in balance in 2014. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany plans to replace nuclear power with renewable energy, which accounts for 34% of total energy consumption, up from 9% in 2000. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production.

Source : CIA

Name and address

LUDWIG H.O. SCHROEDER & RUDOLPH HAMANN OHG

Pickhuben 6

D 20457 Hamburg

Telephone:040/374840-0

Telefax: 040/374840-40

Homepage: www.shtea.de

E-mail: shtea@t-online.de

Company Status

Active

VAT no.

DE118909287

Tax ID number

74/259/00042

CONCLUSION

Business relations are permissible.

Summary

LEGAL FORM General Partnership

Date of foundation: 24.10.1907

Registered on: 18.10.1952

Register of

companies: Local court 20355 Hamburg

under: HRA 72944

General partner:

Marcus Wulf

D 20457 Hamburg

born: 09.10.1966 in Hamburg

Profession: Businessman

Marital status: married

General partner:

Marcus Wulf Hamburger Handels- &

Beteiligungsgesellschaft mbH

Pickhuben 6

D 20457 Hamburg

Legal form: Private limited company

Share capital: EUR 25,000.00

Registered on: 09.12.2004

Reg. data: 20355 Hamburg, HRB 92264

Shareholder:

HTH Hamburger Teehandel GmbH Im- & Export

Pickhuben 6

D 20457 Hamburg

Legal form: Private limited company

Share capital: EUR 512,500.00

Share: EUR 25,000.00

Registered on: 23.06.1989

Reg. data: 20355 Hamburg, HRB 42314

Profit transfer agreement

Manager:

Marcus Wulf

D 20457 Hamburg

having sole power of representation

born: 09.10.1966 in Hamburg

Profession: Businessman

Marital status: married

Further functions/participations of Marcus Wulf (General partner)

Shareholder:

HTH Hamburger Teehandel GmbH Im- & Export

Pickhuben 6

D 20457 Hamburg

Legal form: Private limited company

Share capital: EUR 512,500.00

Share: EUR 486,875.00

Registered

on: 23.06.1989

Reg. data: 20355 Hamburg, HRB 42314

Shareholder:

HSG Hanse Sport GmbH

Aalheitengraben 4

D 22359 Hamburg

Legal form: Private limited company

Share capital: EUR 52,500.00

Share: EUR 17,500.00

Registered

on: 24.08.2009

Reg. data: 20355 Hamburg, HRB 110642

Manager:

HTH Hamburger Teehandel GmbH Im- & Export

Pickhuben 6

D 20457 Hamburg

Legal form: Private limited company

Share capital: EUR 512,500.00

Registered

on: 23.06.1989

Reg. data: 20355 Hamburg, HRB 42314

Manager:

HSG Hanse Sport GmbH

Aalheitengraben 4

D 22359 Hamburg

Legal form: Private limited company

Share capital: EUR 52,500.00

Registered

on: 24.08.2009

Reg. data: 20355 Hamburg, HRB 110642

Manager:

Marcus Wulf Hamburger Handels- &

Beteiligungsgesellschaft mbH

Pickhuben 6

D 20457 Hamburg

Legal form: Private limited company

Share capital: EUR 25,000.00

Registered

on: 09.12.2004

Reg. data: 20355 Hamburg, HRB 92264

COMPANY HISTORY

18.10.1952 - 31.12.1996 Ludwig H. O. Schröder & Rudolf Hamann

Pickhuben 2

D 20457 Hamburg

General Partnership

01.01.1997 - 31.01.2005 Ludwig H. O. Schröder & Rudolf Hamann

OHG

Pickhuben 5

D 20457 Hamburg

General Partnership

01.02.2005 - 01.02.2010 Ludwig H. O. Schröder & Rudolf Hamann

OHG

Pickhuben 6

D 20457 Hamburg

General Partnership

BUSINESS ACTIVITIES

Main industrial sector

46370 Wholesale of coffee, tea, cocoa and spices

FINANCIAL INFORMATION

Payment experience: within agreed terms

Negative information:We have no negative information at hand.

REAL ESTATE

Type of ownership: Tenant

Address Pickhuben 6

D 20457 Hamburg

Real Estate of: Marcus Wulf Hamburger Handels- &

Beteiligungsgesellschaft mbH

Type of ownership: Tenant

Address Pickhuben 6

D 20457 Hamburg

Land register documents were not available.

BANKERS

DEUTSCHE BANK, 20079 HAMBURG

Sort. code: 20070000

BIC: DEUTDEHHXXX

UNICREDIT BANK - HYPOVEREINSBANK, 20454 HAMBURG

Sort. code: 20030000

BIC: HYVEDEMM300

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

Turnover: 2013 EUR 8,000,000.00

2014 EUR 8,000,000.00

further business figures:

Employees: 7

- thereof permanent staff: 7

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.61
UK Pound	1	Rs.97.27
Euro	1	Rs.69.63

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	VNT

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	--

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%)

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.