MIRA INFORM REPORT

Report No. :	321626
Report Date :	08.05.2015

IDENTIFICATION DETAILS

Name :	ROHIT IRON AND STEEL (INDIA) PRIVATE LIMITED
Registered Office :	54, Small Factory Area, Bhandara Road, Bagadganj, Nagpur – 440008, Maharashtra
Tel No.:	91-712-2766227
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	14.05.2004
Com. Reg. No.:	11-146303
Capital Investment / Paid-up Capital :	Rs. 66.926 Million
CIN No.: [Company Identification No.]	U27100MH2004PTC146303
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCR8951Q
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in Trading and Supplier of Steel Products.
No. of Employees :	60 (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 2047000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. As per registered of companies the date of Balance Sheet i.e., Financials file is shown as 31^st March, 2014 but the document related to the financials for the year 2013 and 2014 are not available from any sources. As per available financial of 2012, profitability of the company seems to be low. The rating also takes into consideration exposure to fluctuation in the steel prices and intense competition amongst the steel traders. However, trade relations are reported to be fair. Business is active. Payment terms are reported to be unknown. 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

Rating Agency Name	CARE
Rating	Long term bank facilities = BB+
Rating Explanation	Inadequate credit quality and carry high credit risk.
Date	August 20, 2014

Rating Agency Name	CARE
Rating	Short term bank facilities = A4+
Rating Explanation	Have minimal degree of safety and carry higher credit risk.
Date	August 20, 2014

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. Nandkishore Kakani
Designation :	Finance Manager
Contact No.:	91-712-2766227
Date :	07.05.2015

LOCATIONS

Registered Office :	54, Small Factory Area, Bhandara Road, Bagadganj, Nagpur – 440008, Maharashtra, India
Tel. No.:	91-712-2769503 / 2766227
Fax No.:	91-712-2763503
E-Mail :	mail@rohitsteel.in rrkngp08@gmail.com
Website :	http://www.rohitsteel.in
Godown :	Godown House No.235, Ward No.02, Khasra No. 50/J, Bori, Nagpur, Maharashtra, India

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Satyanarayan Agrawal
Designation :	Director
Address :	163, Canal Road, Ramdaspeth, Nagpur - 440010, Maharashtra, India
Date of Birth/Age :	22.10.1932
Date of Appointment :	14.05.2004
DIN No. :	00303385
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	U31200CT2003PTC016239	NEERAJ POWER PRIVATE LIMITED	Director	02/12/2003	02/12/2003	-	Active	NO
2	U27100MH2004PTC146303	ROHIT IRON AND STEEL (INDIA) PRIVATE LIMITED	Director	14/05/2004	14/05/2004	-	Active	NO
3	U27100MH2004PLC148749	TINSLEY ANRO STEELS LIMITED	Director	22/09/2004	22/09/2004	11/06/2008	Active	NO
4	U74950WB2004PTC098089	RICHIFIELD PACKAGING PRIVATE LIMITED	Director	01/09/2007	01/09/2007	-	Active	NO
5	U40100CT2007PTC020394	SPERSH POWER AND STEEL PRIVATE LIMITED	Director	05/10/2007	05/10/2007	-	Strike off	NO
6	U27101MH2005PTC156270	GUPTA INDUSTRIES PRIVATE LIMITED	Director	23/09/2009	01/06/2009	-	Active	NO
7	U51900WB2006PTC107484	AMBITION TRADE LINK PRIVATE LIMITED	Director	21/05/2010	21/05/2010	-	Active	NO
8	U51909WB2007PTC119298	ANANDAMOYEE TRADE-LINK PRIVATE LIMITED	Director	04/01/2012	04/01/2012	-	Active	NO
9	U52100WB2010PTC148018	BOLERO MERCHANTS PRIVATE LIMITED	Director	14/03/2013	14/03/2013	-	Active	NO
10	U74900MH2012PTC237291	PRAVESH EXPORTS PRIVATE LIMITED	Director	22/04/2015	22/04/2015	-	Active	NO

Name :	Mr. Rohit Agrawal
Designation :	Managing director
Address :	163, Canal Road, Ramdaspeth, Nagpur - 440010, Maharashtra, India
Date of Birth/Age :	31.01.1978
Date of Appointment :	14.05.2004
DIN No. :	00303407
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	U31200CT2003PTC016239	NEERAJ POWER PRIVATE LIMITED	Director	02/12/2003	02/12/2003	-	Active	NO
2	U27100MH2004PTC146303	ROHIT IRON AND STEEL (INDIA) PRIVATE LIMITED	Managing director	14/05/2004	14/05/2004	-	Active	NO
3	U27100MH2004PLC148749	TINSLEY ANRO STEELS LIMITED	Director	22/09/2004	22/09/2004	11/06/2008	Active	NO
4	U40100MH2005PTC156213	MAHARASHTRA VIDHYUT NIGAM PRIVATE LIMITED	Director	21/09/2005	21/09/2005	-	Active	NO
5	U74950WB2004PTC098089	RICHIFIELD PACKAGING PRIVATE LIMITED	Director	20/02/2008	20/02/2008	-	Active	NO
6	U27101MH2005PTC156270	GUPTA INDUSTRIES PRIVATE LIMITED	Director	23/09/2009	01/06/2009	-	Active	NO
7	U51900WB2006PTC107484	AMBITION TRADE LINK PRIVATE LIMITED	Director	18/06/2010	18/06/2010	-	Active	NO
8	U14100MH2010SGC205717	MSMC WARORA COLLIERIES LIMITED	Nominee director	20/07/2010	20/07/2010	-	Active	NO
9	U51109WB2007PTC118995	BINDHACHAL VYAPAAR PRIVATE LIMITED.	Director	15/06/2011	15/06/2011	-	Active	NO
10	U51909WB2007PTC119298	ANANDAMOYEE TRADE-LINK PRIVATE LIMITED	Director	04/01/2012	04/01/2012	-	Active	NO
11	U52100WB2010PTC148018	BOLERO MERCHANTS PRIVATE LIMITED	Director	14/03/2013	14/03/2013	-	Active	NO
12	U74120WB2010PTC149381	ALASTAIR COMMOTRADE PRIVATE LIMITED	Director	15/03/2013	15/03/2013	-	Active	NO
13	U51101WB2009PTC132631	BAJRANGBALI COMMOSALES PRIVATE LIMITED	Director	19/03/2013	19/03/2013	-	Active	NO
14	U27310MH2013PTC243816	CENTRAL STEEL AND ENERGY TRADING COMPANY PRIVATE LIMITED	Director	30/05/2013	30/05/2013	-	Active	NO
15	U74900MH2012PTC237291	PRAVESH EXPORTS PRIVATE LIMITED	Director	24/03/2014	24/03/2014	-	Active	NO

Name :	Mrs. Sumati Agrawal
Designation :	Director
Address :	58, Gandhi Chowk, Neora, Raipur – 443114, Maharashtra, India
Date of Birth/Age :	12.12.1979
Date of Appointment :	14.05.2004
DIN No. :	03400173
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	Company/ LLP Status	Defaulting status
1	U27100MH2004PTC146303	ROHIT IRON AND STEEL (INDIA) PRIVATE LIMITED	Director	14/05/2004	14/05/2004	Active	NO
2	U74120WB2010PTC149381	ALASTAIR COMMOTRADE PRIVATE LIMITED	Director	15/03/2013	15/03/2013	Active	NO
3	U51101WB2009PTC132631	BAJRANGBALI COMMOSALES PRIVATE LIMITED	Director	19/03/2013	19/03/2013	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Rohit S. Agrawal	1108824
Satyanarayan K. Agrawal	975000
Sumati R. Agrawal	553800
Dilip N. Mansingka	600
Chetan Kamalkishore Agrawal	120
Ratnidevi S. Agrawal	360
Kanchandevi D. Mansingka	480
Neeraj Power Limited, India	240
Kohit Agarwal, Satyanarayan Agarwal HUF, Ratnidevi Agrawal	1234800
Brndhachal Vyapaar Private Limited, India	482412
Richifield Packing Private Limited, India	776412
Ambition Trade-Link Private Limited, India	324012
Anandamoyee Trade-Link Private Limited, India	1145012
Viivek K. Agarwal	12
Rajat D. Mansingka	12
Satyanarayan K. Agarwal HUF	12
Santoshdevi K.Kumpawat	12
Bajrangbali Commonsales Private Limited, India	1648600
TOTAL	8250720

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	51.76
Directors or relatives of Directors	48.22
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :	The company is engaged in Trading and Supplier of Steel Products.
Products :	Steel Pipes Mild Steel Angle Steel Plates Mild Steel Beam Mild Steel Channels Round Bar
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

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

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

--

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

--

No. of Employees :

60 (Approximately)

Bankers :

• Bank of India, Bank of India Building, Meazannine Floor, S.V. Patel Marg, Nagpur - 440001, Maharashtra, India

• Bank of India, Nagpur Corporate Banking Branch, S. V. Patel Marg, Kingsway, Nagpur - 440001, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2012 (Rs. in Million)	31.03.2011 (Rs. in Million)
LONG TERM BORROWINGS
Rupee term loans from banks [Truck loan, hypothecation of stocks of iron and steel beans, channels, angles, steel and iron plates, sheets etc. and book debts and other current assets]	1.570	230.549
Total	1.570	230.549

Banking Relations :	--
Auditors :
Name :	Rajeev M. Khandelwal and Company Chartered Accountants
Address :	14, Navjeevan Colony, Wardha Road, Nagpur - 440015, Maharashtra, India
PAN No.:	ACVPK8018M
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
82,50,720	Equity Shares	Rs.10/- each	Rs. 82.507 Million

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
8,000,000	Equity Shares	Rs.10/- each	Rs. 80.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
66,92,600	Equity Shares	Rs.10/- each	Rs. 66.926 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	66.926	48.976
(b) Reserves & Surplus	603.472	420.576
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	46.300	20.100
Total Shareholders’ Funds (1) + (2)	716.698	489.652
(3) Non-Current Liabilities
(a) long-term borrowings	30.295	252.458
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	30.295	252.458
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	415.974	265.071
(c) Other current liabilities	11.996	45.474
(d) Short-term provisions	10.886	5.362
Total Current Liabilities (4)	438.856	315.907
TOTAL	1185.849	1058.017
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	39.292	13.648
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	123.441	170.846
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.250	0.000
(e) Other Non-current assets	0.278	0.184
Total Non-Current Assets	163.261	184.678
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	215.050	158.295
(c) Trade receivables	657.881	663.016
(d) Cash and cash equivalents	123.887	2.138
(e) Short-term loans and advances	7.500	11.595
(f) Other current assets	18.270	38.295
Total Current Assets	1022.588	873.339
TOTAL	1185.849	1058.017

SOURCES OF FUNDS	31.03.2010
SHAREHOLDERS FUNDS
1] Proprietor's Capital	34.485
2] Share Application Money	20.600
3] Reserves & Surplus	280.188
4] (Accumulated Losses)	0.000
NETWORTH	335.273
LOAN FUNDS
1] Secured Loans	153.121
2] Unsecured Loans	10.449
TOTAL BORROWING	163.570
DEFERRED TAX LIABILITIES	0.000
TOTAL	498.843
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]	19.229
Capital work-in-progress	0.000
INVESTMENT	4.715
DEFERRED TAX ASSETS	0.000
CURRENT ASSETS, LOANS & ADVANCES
Inventories	83.912
Sundry Debtors	649.887
Cash & Bank Balances	1.409
Other Current Assets	148.208
Deposits	0.000
Loans & Advances and Deposits	21.500
Total Current Assets	904.916
Less : CURRENT LIABILITIES & PROVISIONS
Sundry Creditors	343.845
Other Current Liabilities / Duty and Taxes	66.866
Provisions	19.458
Total Current Liabilities	430.169
Net Current Assets	474.747
MISCELLANEOUS EXPENSES	0.152
PROFIT AND LOSS	0.000
TOTAL	498.843

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2012	31.03.2011	31.03.2010
	SALES
	Revenue from operations	3618.605	2954.689	NA
	Other Income			NA
	TOTAL	3618.605	2954.689	NA
Less	EXPENSES
	TOTAL	3586.373	2939.354	NA
	PROFIT/ (LOSS) BEFORE TAX	32.232	15.335	NA
Less	TAX	10.886	5.362	NA
	PROFIT/ (LOSS) AFTER TAX	21.346	9.973	NA
	Earnings / (Loss) Per Share (Rs.)	3.1	0.20	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PAT / Sales)	(%)	NA	NA	NA
Operating Profit Margin (PBIDT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.03	1.73	NA
Return on Investment (ROI) (PBT/Networth)		0.04	0.03	NA
Debt Equity Ratio (Total Debt /Networth)		0.04	0.52	0.49
Current Ratio (Current Asset/Current Liability)		2.33	2.76	2.10

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	48.976	66.926
Reserves & Surplus	420.576	603.472
Share Application money pending allotment	20.100	46.300
Net worth	489.652	716.698
long-term borrowings	252.458	30.295
Short term borrowings	0.000	0.000
Total borrowings	252.458	30.295
Debt/Equity ratio	0.516	0.042

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)
Total Income	2954.689	3618.605
		22.470

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)
Total Income	2954.689	3618.605
Profit/(Loss) After Tax	9.973	21.346
	0.34%	0.59%

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 two years	Yes
12]	Profitability for last two 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	Yes

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	80040730	15/03/2012 *	500,000,000.00	BANK OF INDIA	BANK OF INDIA BUILDING, MEAZANNINE FLOOR, S.V. P  ATEL MARG, NAGPUR, MAHARASHTRA - 440001, INDIA	B36428142

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2012 (Rs. in Million)	31.03.2011 (Rs. in Million)
LONG TERM BORROWINGS
Loans and advances from directors	17.001	2.442
Loans and advances from others	9.856	15.220
Loans taken for fixed assets	1.868	4.247
Total	28.725	21.909

FINANCIAL RESULTS / WORKING

Directors are hopeful for the better results of the Company workings in the current year.

FIXED ASSETS

• Land
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments

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.60.87
UK Pound	1	Rs.99.63
Euro	1	Rs.78.22

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--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	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		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

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