MIRA INFORM REPORT

Report No. :	322198
Report Date :	16.05.2015

IDENTIFICATION DETAILS

Name :	ANKIT DIAMONDS PRIVATE LIMITED (w.e.f 16.01.2013)

Formerly known as :	ANKIT REALTY PRIVATE LIMITED (w.e.f.10.07.2008) ANKIT REALITY PRIVATE LIMITED

Registered Office :	D-11/1, Road No.21, M.I.D.C Marol Industrial Area, Andheri (East), Mumbai – 400093, Maharashtra
Tel no.	91-22-67380100

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	19.05.2008

Com. Reg. No.:	11-182442

Capital Investment / Paid-up Capital :	Rs. 0.100 Million

CIN No.: [Company Identification No.]	U74999MH2008PTC182442

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	MUMA43863B

PAN No.: [Permanent Account No.]	AAHCA2120K

Legal Form :	Private Limited Liability Company

Line of Business :	Trader, Exporter and Import of Diamonds

No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile and huge external borrowing taken by the company, which acts as threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. 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

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. Kalpesh
Designation :	Finance Officer
Contact No.:	91-22-67380100
Date :	12.05.2015

LOCATIONS

Registered Office :	D-11/1, Road No.21, M.I.D.C Marol Industrial Area, Andheri (East), Mumbai – 400093, Maharashtra, India
Tel. No.:	91-22-67380100
Mobile No.:	91-9820063439 (Mr. Paras)
Fax No.:	Not Available
E-Mail :	kalpesh@hdipak.com daksha@hdipak.com

Branch Office :	DW – 6162, bharat Diamons Bource, BKC Bandra (East), Mumbai, Maharashtra, India
Location :	Rented

DIRECTORS

As on 30.09.2014

Name :

Mrs. Daksha Hitesh Mehta

Designation :

Director

Address :

9 Sonbar, 13 Ashok Chs, N S Road 10,Jvpd Scheme, Vile Parle, Mumbai, 40004, Maharashtra, India

Date of Birth/Age :

23.07.1962

Date of Appointment :

19.05.2008

DIN No.:

00731342

Voter ID No.:

MT08038280335

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	U36912MH1993PTC074380	AASHAY INDUSTRIES PRIVATE LIMITED	Director	07/10/1993	07/10/1993	-	Active	NO
2	U36911MH2005PTC153571	JEWELTOUCH (INDIA) PRIVATE LIMITED	Director	27/05/2005	27/05/2005	-	Active	NO
3	U74999MH2008PTC182442	ANKIT DIAMONDS PRIVATE LIMITED	Director	19/05/2008	19/05/2008	-	Active	NO
4	U36911MH2008PTC185062	PURPLE DIAMOND PRIVATE LIMITED	Director	24/07/2008	24/07/2008	02/06/2014	Active	NO
5	U36911MH2008PTC185353	INDIGO DIAMOND PRIVATE LIMITED	Director	18/09/2008	01/08/2008	02/06/2014	Active	NO
6	U36911MH2008PTC187109	VIOLET DIAMOND PRIVATE LIMITED	Director	26/09/2008	26/09/2008	28/06/2014	Active	NO
7	U72900MH2009PTC190353	IMAGINARIUM ( INDIA ) PRIVATE LIMITED	Director	13/02/2009	13/02/2009	-	Active	NO
8	U85100MH2011NPL217006	Foundation For Vital Healing	Director	03/05/2011	03/05/2011	-	Active	NO
9	U85100MH2007PTC171970	APEX KIDNEY CARE PRIVATE LIMITED	Director	30/09/2014	01/10/2013	-	Active	NO

Name :

Mr. Hitesh Vijaykumar Mehta

Designation :

Director

Address :

9th Floor Sonbar Ashok, Nagar Society,10th Road Juhu Scheme, Vileparle West, Mumbai, 400049, Maharashtra, India

Date of Birth/Age :

26.12.1961

Date of Appointment :

19.05.2008

DIN No.:

00660482

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	U36912MH1993PTC074380	AASHAY INDUSTRIES PRIVATE LIMITED	Director	04/11/1993	04/11/1993	-	Active	NO
2	U36911MH2005PTC153571	JEWELTOUCH (INDIA) PRIVATE LIMITED	Director	27/05/2005	27/05/2005	-	Active	NO
3	U01403MH2008PTC181166	VASUNDHARA ECOFRIENDLY AGROPRODUCTS PRIVATE LIMITED	Director	15/04/2008	15/04/2008	17/05/2013	Active	NO
4	U74999MH2008PTC182442	ANKIT DIAMONDS PRIVATE LIMITED	Director	19/05/2008	19/05/2008	-	Active	NO
5	U36996MH2010PTC203922	FABJEWELS PRIVATE LIMITED	Director	18/07/2010	18/07/2010	-	Active	NO
6	U36912GJ2011PTC067955	FUZION JEWELS PRIVATE LIMITED	Director	17/02/2011	17/02/2011	-	Active	NO
7	U85100MH2011NPL217006	Foundation For Vital Healing	Director	03/05/2011	03/05/2011	-	Active	NO
8	U85100MH2007PTC171970	APEX KIDNEY CARE PRIVATE LIMITED	Director	30/09/2014	01/10/2013	-	Active	NO

Name :

Mr. Manish Vijaykumar Mehta

Designation :

Director

Address :

9th Floor Sonbar Ashok, Nagar Society,10th Road Juhu Scheme, Vile Parle West, Mumbai, 400049, Maharashtra, India

Date of Birth/Age :

14.09.1966

Date of Appointment :

19.05.2008

DIN No.:

0731249

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ DesignatedPartner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36912MH1993PTC074380	AASHAY INDUSTRIES PRIVATE LIMITED	Director	04/11/1993	04/11/1993	-	Active	NO
2	U36911MH2005PTC153571	JEWELTOUCH (INDIA) PRIVATE LIMITED	Director	28/05/2005	28/05/2005	-	Active	NO
3	U74999MH2008PTC182442	ANKIT DIAMONDS PRIVATE LIMITED	Director	19/05/2008	19/05/2008	-	Active	NO
4	U72900MH2009PTC190353	IMAGINARIUM ( INDIA ) PRIVATE LIMITED	Director	28/03/2009	23/02/2009	-	Active	NO
5	U27205MH2008PTC181527	MISHTI JEWELS PRIVATE LIMITED	Director	01/07/2010	01/07/2010	-	Active	NO
6	U85100MH2011NPL217006	Foundation For Vital Healing	Director	04/05/2011	04/05/2011	-	Active	NO

Name :

Mrs. Neelam Manish Mehta

Designation :

Director

Address :

8 Sonbar , Plot 13, Ahsok Chs ,N S Road 10,Juhu Scheme , Vile Parle, Mumbai, 400049, Maharashtra, India

Date of Birth/Age :

08.10.1967

Date of Appointment :

19.05.2008

DIN No.:

00731423

Voter ID No.:

MT08038279590

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	U36912MH1993PTC074380	AASHAY INDUSTRIES PRIVATE LIMITED	Director	04/11/1993	04/11/1993	-	Active	NO
2	U36911MH2005PTC153571	JEWELTOUCH (INDIA) PRIVATE LIMITED	Director	28/05/2005	28/05/2005	-	Active	NO
3	U74999MH2008PTC182442	ANKIT DIAMONDS PRIVATE LIMITED	Director	19/05/2008	19/05/2008	-	Active	NO
4	U36911MH2008PTC185062	PURPLE DIAMOND PRIVATE LIMITED	Director	24/07/2008	24/07/2008	02/06/2014	Active	NO
5	U36911MH2008PTC185353	INDIGO DIAMOND PRIVATE LIMITED	Director	18/09/2008	01/08/2008	02/06/2014	Active	NO
6	U36911MH2008PTC187109	VIOLET DIAMOND PRIVATE LIMITED	Director	26/09/2008	26/09/2008	28/06/2014	Active	NO
7	U72900MH2009PTC190353	IMAGINARIUM ( INDIA ) PRIVATE LIMITED	Director	13/02/2009	13/02/2009	-	Active	NO
8	U85100MH2011NPL217006	Foundation For Vital Healing	Director	03/05/2011	03/05/2011	-	Active	NO

Name :

Mr. Aashay Manish Mehta

Designation :

Director

Address :

8 Sonbar , Plot 13, Ahsok Chs ,N S Road 10,Juhu Scheme , Vile Parle, Mumbai, 400049, Maharashtra, India

Date of Appointment :

08.05.2014

DIN No.:

06859389

KEY EXECUTIVES

Name :	Mr. Kalpesh
Designation :	Finance Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age
Hitesh.V. Mehta	200	2.00
Manish. V. Mehta	200	2.00
Daksha H. Mehta	4600	46.00
Neelam. M. Mehta	4600	46.00
Ankit H. Mehta	200	2.00
Aashay Manish. Mehta	200	2.00

Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Exporter and Import of Diamonds

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Finished Goods
Countries :	UK Hong Kong Australia

Imports :
Products :	Rough diamond
Countries :	Israel Belgium

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

K. girdharlala International Limited
Lypsa Gems and Jewellery Limited
Priti Gems Exports Private Limited

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 :

Retailers and Others

Gems Luck HK Limited
Aarzee Jewellery LLC
Rosy Blue DMCC
Shine Diam HK Limited
Simchayoff Jacob Diamonds Limited

Reference :	Karan Gems, Mumbai
Name of the Person :	Mr. Dilip Patel (Account Department)
Contact No.:	91-9820077076
Since How Long Known :	4 Years
Experience :	Product Quality = Excellent Delivery Behaviour = Excellent Overall = Excellent
Maximum Limit Dealt :	Not Divulged
Remark:	As claimed by Mr. Dilip Patel (Account Department) that the product quality is good and they delivered product on time.

No. of Employees :

10 (Approximately)

Bankers :

Banker Name	Kotak Mahindra Bank
Branch Address	Bandra (East), Mumbai
Person Name (With Designation)	Mr. Viru Paksha (Regional Manager)
Contact Number	91-9819824767
Name of Account Holder	Ankit diamond Private Limited
Account Number	550011056399
Account Since (Date/Year of Account Opening)	1 Year
Average Balance Maintained (If Possible)	Rs. 1.000 to 2.000 Million
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Satisfactory
Remarks (If any)	As claimed by Mr. Viru Paksha that the subject is having good track record.

Auditors :
Name :	V.G.Varia and Company Chartered Accountants
Address :	C-603, Gokul Nagari-II (CDE),Thakur Village, W. E. Highway Kandivali (East), Mumbai – 400101, Maharashtra, India
Tel. No.:	91-9322233267
PAN No.:	AAAPV4914C

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

1,000,000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	0.100	0.100	0.100
(b) Reserves & Surplus	5.484	(0.172)	(0.021)
(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)	5.584	(0.072)	0.079

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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)	0.000	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	24.100	11.000	10.521
(b) Trade payables	104.776	0.016	0.016
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	1.325	0.000	0.000
Total Current Liabilities (4)	130.201	11.016	10.537

TOTAL	135.785	10.944	10.616

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets
(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	8.071	10.051	10.051
(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	8.071	10.051	10.051

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	6.304	0.000	0.000
(c) Trade receivables	106.986	0.000	0.000
(d) Cash and cash equivalents	11.265	0.174	0.230
(e) Short-term loans and advances	0.029	0.072	0.120
(f) Other current assets	3.130	0.647	0.215
Total Current Assets	127.714	0.893	0.565

TOTAL	135.785	10.944	10.616

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	113.340	0.000	0.000
	Other Income	NA	0.000	0.021
	TOTAL	NA	0.000	0.021

Less	EXPENSES
	TOTAL	0.000	0.151	0.042

	PROFIT/ (LOSS) BEFORE TAX	6.982	(0.151)	(0.021)

Less	TAX	1.325	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX	5.657	(0.151)	(0.021)

	EARNINGS IN FOREIGN CURRENCY	106.986	0.000	0.000

	Earnings / (Loss) Per Share (Rs.)	565.70	(15.00)	(2.00)

Particulars

31.03.2015

Sales Turnover (Approximately)

200.000

Expected Sales (2015-2016) : Rs.200.000 Million (Above)

The above information has been parted by Mr. Kalpesh

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Total Income)	(%)	4.99	0.00	0.00

Return on Total Assets (PBT/Total Assets}	(%)	5.47	(16.91)	(3.72)

Return on Investment (ROI) (PBT/Networth)		1.25	2.10	(0.27)

Debt Equity Ratio (Total Debt /Networth)		4.32	(152.78)	133.18

Current Ratio (Current Asset/Current Liability)		0.98	0.08	0.05

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	(0.021)	(0.172)	5.484
Net worth	0.079	-0.072	5.584

long-term borrowings	0.000	0.000	0.000
Short term borrowings	10.521	11.000	24.100
Total borrowings	10.521	11.000	24.100
Debt/Equity ratio	133.177	(152.778)	4.316

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 one years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	No
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	Yes
34]	External Agency Rating, if available	No

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
From Directors
Hitesh V. Mehta	19.700	6.000
Manish V. Mehta	4.400	5.000
Total	24.100	11.000

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

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.63.57
UK Pound	1	Rs.100.29
Euro	1	Rs.72.37

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	KAR

Report Prepared by :	ART

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
--PROFITABILITY	1~10	3
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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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