MIRA INFORM REPORT

Report No. :	318744
Report Date :	18.05.2015

IDENTIFICATION DETAILS

Name :		SAMPRASH FOODS LIMITED (w.e.f. 25.07.2013)
Formerly Known As :		SAMPRASH FOODS PRIVATE LIMITED
Registered Office :		11, K. M. Village Pachparda, Aligarh – Delhi G. T. Road, Aligarh – 202001, Uttar Pradesh
Tel. No.:	91-11-41075307
Country :		India
Financials (as on) :		31.03.2013
Date of Incorporation :		26.10.2004
Com. Reg. No.:		20-029193
Capital Investment / Paid-up Capital :		Rs. 75.069 Million
CIN No.: [Company Identification No.]		U15201UP2004PLC029193
TAN No.: [Tax Deduction & Collection Account No.]		AGRS13306G
PAN No.: [Permanent Account No.]		AAJCS0677H
Legal Form :		A Closely Held Public Limited Liability Company
Line of Business :		Manufacturer Milk Products
No. of Employees :		250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (20)

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

Maximum Credit Limit :	USD 790000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Management of the company has failed to file its latest financial with government department for FY2014. As per available financial of 2013, the company has low profit margin. However, Liquidity of the company is fair. Trade relations are fair. Business is active. Payment terms are slow but correct. Subject can be considered for business dealing 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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	CRIRIL
Rating	Long term rating = BB+
Rating Explanation	Inadequate credit quality and high credit risk
Date	23.09.2014

Rating Agency Name	CRIRIL
Rating	Short term rating = A4+
Rating Explanation	Minimal degree of safety and very high credit risk
Date	23.09.2014

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. Sitesh
Designation :	Accounts
Contact No.:	91-11-41075307
Date :	05.05.2015

LOCATIONS

Registered Office / Factory:	11, K. M. Village Pachparda, Aligarh – Delhi G. T. Road, Aligarh – 202001, Uttar Pradesh, India
Tel. No.:	91-11-41075307
Fax No.:	Not Available
E-Mail :	sitesh@gmail.com samprashfoods1@gmail.com samprash.saurabh@gmail.com
Website :
Location :	Owned
Corporate Office :	No. 1219, DLF Tower – B, Jasola Commercial Complex, New Delhi – 110025, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Chand Narian Kuchroo

Designation :

Managing Director

Address :

A – 149, Florence Elite, Sushant Lok, Phase – 3, Sector 57, Gurgaon – 122002, Hayana, India

Date of Birth/Age :

14.04.1950

Date of Appointment :

01.08.2013

PAN No.:

AFBPK7123A

DIN No.:

01127365

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	U15201UP2004PLC029193	SAMPRASH FOODS LIMITED	MANAGING DIRECTOR	01-08-2013	29-04-2005	-	ACTIVE	NO
2	U01403UP2010PLC039300	K K MILK FRESH INDIA LIMITED	DIRECTOR	10-06-2014	20-01-2010	-	ACTIVE	NO
3	U74930UP2010PTC041869	JINDAL MOULDED FURNITURE PRIVATE LIMITED	DIRECTOR	03-09-2010	03-09-2010	28-01-2013	ACTIVE	NO
4	U74900DL2007PTC167832	KSP INTERNATIONAL PRIVATE LIMITED	DIRECTOR	30-09-2011	07-12-2010	30-03-2014	ACTIVE	NO
5	U31908DL2009PTC197131	PETALITE INDUSTRIES PRIVATE LIMITED	DIRECTOR	30-09-2011	07-12-2010	25-03-2014	ACTIVE	NO
6	U45201DL2005PTC143401	ANMOL RATAN CONSTRUCTION AND BUILDERS PRIVATE LIMITED	DIRECTOR	30-09-2011	27-12-2010	30-03-2014	ACTIVE	NO
7	U51101UP2011PTC043127	RAC IMPEX PRIVATE LIMITED	DIRECTOR	11-01-2011	11-01-2011	30-03-2014	ACTIVE	NO
8	U70101HR2009PTC039475	ROOT INFRATECH PRIVATE LIMITED	DIRECTOR	30-09-2011	20-01-2011	25-03-2014	ACTIVE	NO
9	U55101DL2008PTC182816	DIOS HOSPITALITY PRIVATE LIMITED	ADDITIONAL DIRECTOR	09-11-2013	01-05-2012	26-03-2014	ACTIVE	NO
10	U51101UP2013PTC054706	SAMPRASH FOODS AND BEVERAGES MARKETING PRIVATE LIMITED	DIRECTOR	17-01-2013	17-01-2013	-	ACTIVE	NO
11	U15122UP2013PTC059043	SAMPRASH MEGA FOOD PARK PRIVATE LIMITED	DIRECTOR	19-08-2013	19-08-2013	-	ACTIVE	NO
12	U15400UP2013PTC060493	CHK FOOD PROCESSING PRIVATE LIMITED	DIRECTOR	08-11-2013	08-11-2013	-	ACTIVE	NO

Name :

Mr. Sankaranarayana Visvanathan

Designation :

Director

Address :

A – 139, Block – A, Anand Vihar, New Delhi – 110092, India

Date of Birth/Age :

30.08.1954

Date of Appointment :

28.08.2006

DIN No.:

01137709

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	U15201UP2004PLC029193	SAMPRASH FOODS LIMITED	DIRECTOR	28-08-2006	28-08-2006	-	ACTIVE	NO
2	U01403UP2010PLC039300	K K MILK FRESH INDIA LIMITED	WHOLE-TIME DIRECTOR	10-06-2014	20-01-2010	-	ACTIVE	NO
3	U31908DL2009PTC197131	PETALITE INDUSTRIES PRIVATE LIMITED	DIRECTOR	30-09-2011	03-01-2011	25-03-2014	ACTIVE	NO
4	U74900DL2007PTC167832	KSP INTERNATIONAL PRIVATE LIMITED	DIRECTOR	30-09-2011	03-01-2011	25-03-2014	ACTIVE	NO

Name :

Mr. Ashok Kumar

Designation :

Director

Address :

Pryag Sarover, Ramghat Road, Alagarh – 202001, Uttar Pradesh, India

Date of Birth/Age :

15.03.1960

Date of Appointment :

25.07.2013

DIN No.:

02588189

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	U15201UP2004PLC029193	SAMPRASH FOODS LIMITED	DIRECTOR	02-08-2013	28-08-2006	-	ACTIVE	NO
2	U01403UP2010PLC039300	K K MILK FRESH INDIA LIMITED	DIRECTOR	29-09-2012	01-12-2011	10-06-2014	ACTIVE	NO
3	U24100UP2014PTC062551	SK BIOTHERAPEUTICS PRIVATE LIMITED	DIRECTOR	07-02-2014	07-02-2014	-	ACTIVE	NO

Name :

Mr. Girish Prakash Mathur

Designation :

Director

Address :

House Number – 2,Bock – 1, Spring Field Colony, Sector – 31, Amaranagar, Faridabad – 121003, Haryana, India

Date of Birth/Age :

02.01.1942

Date of Appointment :

02.08.2013

DIN No.:

06633029

KEY EXECUTIVES

Name :	Mr. Sitesh
Designation :	Accounts
Name :	Bhawan aSatender KAshyap
Designation :	Secretary
Address :	W – 125, Chandra Shekhar, Azad Marg, Gali No. – 4, Babarpur, Shahdara, Delhi – 110032, India
Date of Birth/Age :	07.023.1975
Date of Appointment :	10.08.2013

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Chand Narian Kuchroo	1730460	23.05
Akshar Kuchroo	182500	2.43
S. Vishwanathan	335000	4.46
Ritu Kuchroo	210000	2.80
PAllavi Kucroo	166000	2.21
RAC Impex Private Limited	1704780	22.71
KSP International Private Limited, New Delhi, India	1473200	19.62
Anmol RAtan Construction and Builders Private Limited, New Delhi, India	1705000	22.71
Total	7506940	100.00

AS ON 30.09.2013

Names of Allotees

No. of Shares

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	65.05
Directors or relatives of directors	34.95
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer Milk Products

Products/ Services :

ITC Code No.	Product Descriptions
04059090	Other Fats and Oils Dervtvd from Milk

Brand Names :

--

Agencies Held :

--

Exports :

Products :

Milk Products

Countries :

Europe Nepal

Imports :

Not Divulged

Terms :

Selling :

Cash, Cheque and Credit

Purchasing :

Cash, Cheque and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers and Retailers

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

250 (Approximately)

Bankers :

Bank Name:	Union Bank of India
Branch:	Sme Okhla, Okhla Industrial Area, Phase-I, New Delhi – 110020, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· S. E. Investments Limited, S-547, IInd Floor Main Road, Shakar Pur, New Delhi - 110092, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Million)	31.03.2012 (Rs. In Million)
LONG-TERM BORROWINGS
Rupee Term Loan from Banks	245.428	275.991
SHORT-TERM BORROWINGS
Working Capital Loans from Banks	253.933	0.000
Total	499.361	275.991
NOTE: LONG-TERM BORROWINGS: · * Rs. 4.704 Million Secured against vehicle of the company. Rs. 293.407 Million Secured against factory land & buildings, plant and machinery. And other fixed assets of the company both present and future and other property and guarantees of group companies and directors. · Secured against vehicle of the company. Secured against factory land and buildings, plant and machinery. And other fixed assets of the company both present and future and other property and guarantees of group companies and directors.

Banking Relations :	--
Auditors :
Name :	Khandelia and Sharma Chartered Accountants
Address :	407, South Ex Plaza II, South Extension 2, New Delhi 110049
Income-tax PAN of auditor or auditor's firm :	AAAFK6345G
Memberships :	--
Collaborators :	--
Others	· KSP International Private Limited CIN No.:U74900DL2007PTC167832 · RAC IPEX Private Limited CIN No.: U51101UP2011PTC043127

CAPITAL STRUCTURE

AFTER AS ON 26.10.2004

Authorised Capital : Rs. 135.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 134.484 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
11,000,000	Equity Shares	Rs. 10/- each	Rs. 110.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7,506,940	Equity Shares	Rs. 10/- each	Rs. 75.069 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	75.069	49.236
(b) Reserves & Surplus	172.280	125.044
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	30.000	0.000
Total Shareholders’ Funds (1) + (2)	277.349	174.280
(3) Non-Current Liabilities
(a) Long-term borrowings	279.429	275.991
(b) Deferred tax liabilities (Net)	4.258	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.284	0.000
Total Non-current Liabilities (3)	283.971	275.991
(4) Current Liabilities
(a) Short term borrowings	253.933	0.000
(b) Trade payables	131.726	0.070
(c) Other current liabilities	87.084	3.291
(d) Short-term provisions	3.412	0.000
Total Current Liabilities (4)	476.155	3.361
TOTAL	1037.475	453.632
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	382.850	18.939
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	65.187	250.266
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	2.500	0.000
(c) Deferred tax assets (net)	0.000	0.027
(d) Long-term Loan and Advances	1.674	175.681
(e) Other Non-current assets		0.089
Total Non-Current Assets	452.211	445.002
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	36.559	0.000
(c) Trade receivables	526.167	0.000
(d) Cash and cash equivalents	2.524	7.432
(e) Short-term loans and advances	20.014	1.198
(f) Other current assets	0.000	0.000
Total Current Assets	585.264	8.630
TOTAL	1037.475	453.632

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Income	1305.860	0.000
		Other Income	5.014	0.054
		TOTAL	1310.874	0.054
Less	EXPENSES
		Cost of Materials Consumed	1174.060	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(36.559)	0.000
		Employees benefits expense	14.657	0.000
		Other expenses	59.562	0.261
		TOTAL	1211.720	0.261
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		18.530	(0.207)
Less	FINANCIAL EXPENSES		53.374	0.000
Less/ Add	DEPRECIATION/ AMORTISATION		27.250	0.837
	PROFIT/(LOSS) BEFORE TAX		15.966	(1.044)
Less	TAX		7.479	0.000
	PROFIT/(LOSS) AFTER TAX		8.487	(1.044)
	Earnings Per Share (Rs.)		11.31	(2.12)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.65	NA
Operating Profit Margin (PBDIT/Sales)	(%)	1.42	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.65	(0.51)
Return on Investment (ROI) (PBT/Networth)		0.06	(0.01)
Debt Equity Ratio (Total Debt/Networth)		1.92	1.58
Current Ratio (Current Asset/Current Liability)		1.23	2.57

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Share Capital	49.236	75.069
Reserves & Surplus	125.044	172.280
Money received against share warrants	0.000	0.000
Share Application money pending allotment	0.000	30.000
Net worth	174.280	277.349
long-term borrowings	275.991	279.429
Short term borrowings	0.000	253.933

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last two years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10515803	08/08/2014	6,740,000.00	UNION BANK OF INDIA	SME OKHLA, OKHLA INDUSTRIAL AREA, PHASE-I, NEW DELHI - 110020, INDIA	C17144981
2	10508524	07/07/2014	1,720,000,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMB  AI - 400005, MAHARASHTRA, INDIA	C10931038
3	10507389	11/06/2014	1,385,000.00	UNION BANK OF INDIA	SME OKHLA, OKHLA INDUSTRIAL AREA, PHASE-I, NEW DELHI - 110020, INDIA	C10106755
4	10458579	15/10/2013	17,000,000.00	S. E. INVESTMENTS LIMITED	S-547IIND FLOOR MAIN ROAD, SHAKAR PUR, NEW DELHI - 110092, INDIA	B88914577
5	10418357	29/08/2014 *	660,800,000.00	UNION BANK OF INDIA	SME OKHLA, OKHLA INDUSTRIAL AREA, PHASE-I, NEW DELHI, - 110020, INDIA	C21203906
6	10307366	22/11/2014 *	1,064,800,000.00	UNION BANK OF INDIA (LEAD BANK)	SME OKHLA, OKHLA INDUSTRIAL AREA, PHASE-I, NEW DELHI- 110020, INDIA	C34488718

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2013 (Rs. In Million)	31.03.2012 (Rs. In Million)
LONG-TERM BORROWINGS
Other Loans and Advances	34.000	0.000
Total	34.000	0.000

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 records 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. 63.58
UK Pound	1	Rs. 100.30
Euro	1	Rs. 72.38

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	SUM
Report Prepared by :	ARC

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	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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.