MIRA INFORM REPORT

Report No. :	320665
Report Date :	06.04.2015

IDENTIFICATION DETAILS

Name :	WILTON WEAVERS PRIVATE LIMITED

Registered Office :	Saktheeswaram Junction, Veloorvattom, Cherthala, Alappuzha – 688524, Kerala
Tel No :	91-478-2594344

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	06.09.1999

Com. Reg. No.:	09-013276

Capital Investment / Paid-up Capital :	Rs. 240.276 Million

CIN No.: [Company Identification No.]	U17115KL1999PTC013276

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	TVDW00034G

PAN No.: [Permanent Account No.]	AAACW2940A

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Doormats in coir, Coir trubber, rubber polypropylene etc.

No. of Employees :	Not Divulged (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 40000

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Clear

Comments :	Subject is an established company having moderate track. Management has failed to file the latest financials of FY 14, with the statutory authorities. As per available record of FY 13, there appears huge accumulated losses recorded by the company. However, trade relations seem to be fair. Business is active. Payments are unknown. In view of lack of requisite information, the company can be considered normal for business dealings with great 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

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 :	Mrs. Malini
Designation :	Chartered Accountant
Contact No.:	91-9446455233
Date :	04.05.2015

LOCATIONS

Registered Office/ Factory :	Saktheeswaram Junction, Veloorvattom, Cherthala, Alappuzha – 688524, Kerala, India
Tel. No.:	91-478-2594344
Mobile No.:	91-9446455233 (Mrs. Malini)
Fax No.:	91-478-2814618
E-Mail :	ceo@wilton.in mail@wilton.in

DIRECTORS

As on : 30.09.2013

Name :

Mr. Veliyil Velayudhan Pavithran

Designation :

Director

Address :

Lakshmi Sadanam, Marathorvattom P. O., CMC VIV, Cherthala, Alappuzha – 688545, Kerala, India

Date of Birth/Age :

16.01.1932

DIN No.:

00026418

Date of Appointment :

06.09.1999

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	U18101KL1995PLC008865	TRAVANCORE TRENDS LIMITED	Director	31/03/1995	31/03/1995	-	Active	NO
2	U17117KL1995PTC009503	TRAVANCORE WOOLS AND WEAVES PRIVATE LIMITED	Director	10/10/1995	10/10/1995	-	Under liquidation	NO
3	U17115KL1999PTC013276	WILTON WEAVERS PRIVATE LIMITED	Director	06/09/1999	06/09/1999	-	Active	NO
4	U17214KL2000PTC013734	TRAVANCORE COCOTUFT PRIVATE LIMITED	Managing director	03/03/2000	03/03/2000	-	Active	NO
5	U17226KL2005PTC017785	EXTRAWEAVE PRIVATE LIMITED	Director	13/01/2005	13/01/2005	-	Active	NO
6	U17119KL2005PTC018518	ALAPPUZHA NATURAL FIBRE INFRASTRUCTURE DEVELOPMENT COMPANY PRIVATE LIMITED	Director	30/03/2006	30/03/2006	-	Active	NO
7	U17117KL2006PTC019853	United Spinners Private Limited	Director	18/09/2006	18/09/2006	-	Active	NO
8	U91200KL1939NPL000034	ASSOCIATED COTTAGE INDUSTRIES AND SHIPPERS UNION	Director	29/09/2007	29/09/2007	13/07/2013	Active	NO
9	U91900KL2009NPL024281	FEDERATION OF INDIAN COIR EXPORTERS' ASSOCIATIONS	Nominee director	08/06/2009	08/06/2009	-	Active	NO

Name :

Mr. Velayudhan Ravindra Prasad

Designation :

Director

Address :

Aasha Bhavan, CMC-I, Velorvattom P.O., Cherthala, Alappuzha – 688524, Kerala, India

Date of Birth/Age :

01.10.1934

DIN No.:

00026426

Date of Appointment :

06.09.1999

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	U18101KL1995PLC008865	TRAVANCORE TRENDS LIMITED	Managing director	03/05/1995	03/05/1995	-	Active	NO
2	U17117KL1995PTC009503	TRAVANCORE WOOLS AND WEAVES PRIVATE LIMITED	Director	10/10/1995	10/10/1995	-	Under liquidation	NO
3	U17115KL1999PTC013276	WILTON WEAVERS PRIVATE LIMITED	Director	06/09/1999	06/09/1999	-	Active	NO
4	U17214KL2000PTC013734	TRAVANCORE COCOTUFT PRIVATE LIMITED	Director	03/03/2000	03/03/2000	-	Active	NO
5	U17226KL2005PTC017785	EXTRAWEAVE PRIVATE LIMITED	Director	13/01/2005	13/01/2005	-	Active	NO
6	U17117KL2006PTC019853	United Spinners Private Limited	Director	18/09/2006	18/09/2006	-	Active	NO
7	U35999KL2011PTC028293	India Metal Construction Private Limited	Director	03/05/2011	03/05/2011	-	Strike off	NO
8	U55101KL2011PTC028391	Lucky Lake Resorts Private Limited	Director	13/05/2011	13/05/2011	01/10/2013	Active	NO

Name :

Mr. Santhosh Veliyil Velayudhan

Designation :

Managing Director

Address :

Jovial Bunglow, CMC-I, Velorvattom P.O., Cherthala, Alappuzha – 688524, Kerala, India

Date of Birth/Age :

13.09.1956

Date of Appointment :

06.09.1999

DIN No.:

00465132

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	U18101KL1995PLC008865	TRAVANCORE TRENDS LIMITED	Whole-time director	31/03/1995	31/03/1995	-	Active	NO
2	U17117KL1995PTC009503	TRAVANCORE WOOLS AND WEAVES PRIVATE LIMITED	Managing director	10/10/1995	10/10/1995	-	Under liquidation	NO
3	U17115KL1999PTC013276	WILTON WEAVERS PRIVATE LIMITED	Managing director	06/09/1999	06/09/1999	26/10/2013	Active	NO
4	U17214KL2000PTC013734	TRAVANCORE COCOTUFT PRIVATE LIMITED	Director	03/03/2000	03/03/2000	-	Active	NO
5	U17226KL2005PTC017785	EXTRAWEAVE PRIVATE LIMITED	Director	13/01/2005	13/01/2005	-	Active	NO
6	U17117KL2006PTC019853	United Spinners Private Limited	Director	18/09/2006	18/09/2006	-	Active	NO
7	U85199KL2006PTC019152	KINDER MEDICAL SERVICES PRIVATE LIMITED	Director	25/06/2009	25/06/2009	05/09/2014	Active	NO
8	U70100KL2011PTC028229	Nihanta Realities Private Limited	Director	26/04/2011	26/04/2011	-	Active	NO
9	U35999KL2011PTC028293	India Metal Construction Private Limited	Director	03/05/2011	03/05/2011	-	Strike off	NO
10	U45200KL2012PTC031794	NIHANTA CONTRACTING PRIVATE LIMITED	Whole-time director	31/07/2012	31/07/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Malini
Designation :	Chartered Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2013

Names of Shareholders	No. of Shares	%age
Veliyil Velayudhan Pavithran	151732	6.31
.Velayudhan Ravindra Prasad	157732	6.56
Santhosh Veliyil Velayudhan	151731	6.31
BIC Capets	886793	36.91
Toulemonoe Bochart	1054776	43.90
Total	2402764	100.00

As on : 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	13.10
Other top fifty shareholders	86.90
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Doormats in coir, Coir trubber, rubber polypropylene etc.

Products :	Polypropylene entrance mat Cotton chenille rugs Kitchen mat Prayer mats Cutting mat Non Woven mat

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

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 :

Not Divulged

Bankers :

Banker Name	State Bank of India
Branch Address	Overseas branch (Kerala)
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	10601210003
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

Banker Name	SBI Cherthala
Account Number	10439317096

Banker Name	C.S.B Cherthala CA
Account Number	008401363465195001

Banker Name	CSB Ernakulam
Account Number	200414

Banker Name	CSB
Account Number	2761772

Banker Name	SBI Kochi
Account Number	10471433658

Banker Name	CSB Cherthala
Account Number	16/04

Banker Name	The South Indian Bank Limited
Branch Address	Cherthala Branch, NSS Building, Near KSRTC Bus Stand, AS Road, Cherthala - 688524, Kerala, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
Rupee term loans from banks	0.000	32.034
Other loans and advances	0.000	0.416
Total	0.000	32.450

Auditors :
Name :	Abdul Rahim and Company Chartered Accountant
Address :	Abdul Rahim and Company Vellakinar, Alleppey - 688 001, India
PAN No.:	ACCTR6577K

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Extra Weave Private Limited United Spinners Private Limited

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on : 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

2405000	Equity Shares	Rs.100/- each	Rs.240.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

2402764	Equity Shares	Rs.100/- each	Rs.240.276 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	240.276	205.462	205.462
(b) Reserves & Surplus	(226.248)	(155.178)	(130.093)
(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)	14.028	50.284	75.369

(3) Non-Current Liabilities
(a) long-term borrowings	210.718	32.450	31.165
(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)	210.718	32.450	31.165

(4) Current Liabilities
(a) Short term borrowings	0.209	65.980	33.436
(b) Trade payables	11.046	32.631	20.359
(c) Other current liabilities	48.854	84.796	83.047
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	60.109	183.407	136.842

TOTAL	284.855	266.141	243.376

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	145.462	152.729	164.229
(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	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	145.462	152.729	164.229

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	10.174	58.269	31.070
(c) Trade receivables	14.596	34.838	15.819
(d) Cash and cash equivalents	0.125	0.282	0.938
(e) Short-term loans and advances	113.067	13.671	21.018
(f) Other current assets	1.431	6.352	10.302
Total Current Assets	139.393	113.412	79.147

TOTAL	284.855	266.141	243.376

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012

	TOTAL INCOME (A)	62.125	100.780

Less	TOTAL EXPENSES (B)	104.710	102.770

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	(42.585)	(1.990)

Less	FINANCIAL EXPENSES (D)	15.732	10.040

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(58.317)	(12.030)

Less/ Add	DEPRECIATION/ AMORTISATION (F)	12.753	13.054

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(71.070)	(25.084)

Less	TAX (I)	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	(71.070)	(25.084)

	Earnings / (Loss) Per Share (Rs.)	(29.58)	(10.44)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	(114.40)	(24.89)	NA

Operating Profit Margin (PBDIT / Sales)	(%)	(68.55)	(1.97	NA

Return on Total Assets (PBT/Total Assets}	(%)	(24.95)	(9.43)	0.00

Return on Investment (ROI) (PBT/Networth)		(5.07)	(0.50)	0.00

Debt Equity Ratio (Total Debt /Networth)		15.04	1.96	0.86

Current Ratio (Current Asset/Current Liability)		2.32	0.62	0.58

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	205.462	205.462	240.276
Reserves & Surplus	(130.093)	(155.178)	(226.248)
Net worth	75.369	50.284	14.028

long-term borrowings	31.165	32.450	210.718
Short term borrowings	33.436	65.980	0.209
Total borrowings	64.601	98.430	210.927
Debt/Equity ratio	0.857	1.957	15.036

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Sales	100.780	62.125
	--	-38.356

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Sales	100.780	62.125
Profit	(25.084)	(71.070)
	(24.89%)	(114.40%)

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	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	No
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 :

OPERATIONS AND FUTURE PROSPECTS:

Due to the present financial conditions and tough competition in the market the company was in loss but comparatively better than the previous financial year. The Company is confident that it will be able to achieve better prospects in coming years.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
Deposits from others	210.718	0.000
SHORT TERM BORROWING
Other loans and advances [	0.209	65.980
Total	210.927	65.980

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10446926	17/05/2014 *	43,800,000.00	THE SOUTH INDIAN BANK LIMITED	NSS BUILDING, AC ROAD, NEAR KSRTC BUS STAND, CHER THALA, ALLEPPEY, Kerala - 688524, INDIA	C06229397
2	10426273	19/04/2013	568,600,000.00	THE SOUTH INDIAN BANK LIMITED	CHERTHALA BRANCH, NSS BUILDING,, NEAR KSRTC BUS S TAND, A S ROAD, ALAPUZHA, Kerala - 688524, INDIA	B75324459

* Date of charge modification

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.63.51
UK Pound	1	Rs.95.95
Euro	1	Rs.70.53

INFORMATION DETAILS

Information Gathered by :	KMN

Analysis Done by :	SUB

Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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

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