MIRA INFORM REPORT

Report No. :	349633
Report Date :	21.11.2015

IDENTIFICATION DETAILS

Name :	B. K. INTERNATIONAL PRIVATE LIMITED
Registered Office :	A-125/1, Wazirpur Industrial Area, Delhi-110052
Tel. No.:	91-11-27376113
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.12.2006
Com. Reg. No.:	55-157013
Capital Investment / Paid-up Capital :	Rs.47.893 Million
CIN No.: [Company Identification No.]	U74999DL2006PTC157013
IEC No.:	0599050381
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCB0202H
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer and Exporter of Socks.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 178000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. For the financial year ended 2014, company possesses below average operational performance with low profit margins. Further, rating remain constrained on account of company’s moderate financial risk profile marked by its low reserves level and leverage balance sheet profile of the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. In view of aforesaid, 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 – 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	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 31-03-2015.

INFORMATION DENIIED BY

Name :	Mr. Praveen Agarwal
Designation :	Not Divulged
Contact No.:	91-9810106606
Date :	14.11.2015

LOCATIONS

Registered Office :	A-125/1, Wazirpur Industrial Area, Delhi-110052, India
Tel. No.:	91-11-27376113
Mobile No.:	91-9810106606 (Mr. Praveen Agarwal)
Fax No.:	91-11-27857039
E-Mail :	smprofessional588@gmail.com
Branch Office:	Located At: Delhi Ghaziabad

DIRECTORS

As on 26.09.2014

Name :

Mr. Rattan Kumar Aggarwal

Designation :

Director

Address :

C-1/62, Phase-II, Ashok Vihar, New Delhi-110052, India

Date of Birth/Age :

03.02.1950

Date of Appointment :

06.03.2009

PAN No.:

ABOPA2028H

DIN No.:

00643046

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	U74899DL1994PTC060451	SURAJ IMPEX PRIVATE LIMITED	Director	01/11/2008	01/11/2008	30/11/2008	Active	NO
2	U74999DL2006PTC157013	B. K. INTERNATIONAL PRIVATE LIMITED	Director	06/03/2009	06/03/2009	-	Active	NO
3	U18202DL2011PTC216173	DEEPBHUMI GARMENTS PRIVATE LIMITED	Director	18/03/2011	18/03/2011	-	Active	NO
4	U18109DL2012PLC231519	VENUS KNITFAB LIMITED	Director	15/02/2012	15/02/2012	-	Active	NO

Name :

Mr. Ashok Kumar Agarwal

Designation :

Director

Address :

C-1/62, Phase-II, Ashok Vihar, New Delhi-110052, India

Date of Birth/Age :

26.01.1964

Date of Appointment :

06.03.2009

PAN No.:

ADQPA3094B

DIN No.:

02531198

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	U74999DL2006PTC157013	B. K. INTERNATIONAL PRIVATE LIMITED	Director	06/03/2009	06/03/2009	-	Active	NO
2	U18202DL2011PTC216173	DEEPBHUMI GARMENTS PRIVATE LIMITED	Director	18/03/2011	18/03/2011	-	Active	NO
3	U18109DL2012PLC231519	VENUS KNITFAB LIMITED	Director	15/02/2012	15/02/2012	-	Active	NO

Name :

Mr. Pawan Agarwal

Designation :

Director

Address :

C-1/62, Phase-II, Ashok Vihar, New Delhi-110052, India

Date of Birth/Age :

06.05.1968

Date of Appointment :

06.03.2009

PAN No.:

AFXPA1045H

DIN No.:

01060549

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	U74899DL1991PTC042796	SANJAY MERCANTILE PRIVATE LIMITED	Director	15/12/1997	15/12/1997	-	Active	NO
2	U74899DL1994PTC060451	SURAJ IMPEX PRIVATE LIMITED	Director	01/11/2008	01/11/2008	30/11/2008	Active	NO
3	U74999DL2006PTC157013	B. K. INTERNATIONAL PRIVATE LIMITED	Director	06/03/2009	06/03/2009	-	Active	NO
4	U18202DL2011PTC216173	DEEPBHUMI GARMENTS PRIVATE LIMITED	Director	18/03/2011	18/03/2011	-	Active	NO
5	U18109DL2012PLC231519	VENUS KNITFAB LIMITED	Director	15/02/2012	15/02/2012	17/12/2012	Active	NO

Name :

Mr. Jitendra Aggarwal

Designation :

Director

Address :

C-1/62, Phase-II, Ashok Vihar, New Delhi-110052, India

Date of Birth/Age :

01.09.1972

Date of Appointment :

06.03.2009

PAN No.:

ADQPA3096D

DIN No.:

00643072

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	U51311DL1999PTC099989	BEE KAY ENTERPRENEURS PRIVATE LIMITED	Director	28/05/1999	28/05/1999	20/01/2008	Active	NO
2	U74999DL2006PTC157013	B. K. INTERNATIONAL PRIVATE LIMITED	Director	06/03/2009	06/03/2009	-	Active	NO
3	U18202DL2011PTC216173	DEEPBHUMI GARMENTS PRIVATE LIMITED	Director	18/03/2011	18/03/2011	-	Active	NO
4	U18109DL2012PLC231519	VENUS KNITFAB LIMITED	Director	15/02/2012	15/02/2012	17/12/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2014

Names of Shareholders	No. of Shares
Ashok Kumar Agarwal	1399754
Dhanpati Devi Agarwal	10000
Iswar Lal Agarwal	18300
Jitender Agarwal	756423
Pawan Agarwal	1024384
Rattan Kumar Agarwal	1580429
TOTAL	4789290

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Socks.
Products :	Socks.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• Benlon India Limited
• Shiv Pressing
• Raj Enterprises
• Bansal Industries
• A G Enterprises
• Kailash International
• Shree Shubham Sales
• Rahul Pressing Works

Customers :

• Benlon India Limited
• R K Agro
• Focus Mineral Private Limited
• Super Safex
• Sharad Agencies
• R K Enterprises

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Bank of India
Branch	Bank Street Branch, Karol Bagh, New Delhi-110005, 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 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Bank of India	53.210	41.771
Short-term borrowings
Bank of India C C 55	84.778	80.439
bank OD A/C No.600227110000060	2.694	0.000
Total	140.682	122.210

Auditors :
Name :	K C Singhal and Associates Chartered Accountant
Address :	B-1/2/1, Ground Floor, Yamuna Vihar, Delhi-110053, India
Tel. No.:	91-11-22911503 / 22919305
Mobile No.:	91-9711519991- 92 / 9810055034 / 9810092492
Fax No.:	91-11-22914571
Email :	kcsingal_ca@yahoo.co.in kcsinghal_ca@sify.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAFFK6175M
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4789290	Equity Shares	Rs.10/- each	Rs.47.893 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	47.893	37.893	37.893
(b) Reserves & Surplus	14.445	10.838	7.406
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	10.000	0.000
Total Shareholders’ Funds (1) + (2)	62.338	58.731	45.299
(3) Non-Current Liabilities
(a) long-term borrowings	89.979	97.033	64.551
(b) Deferred tax liabilities (Net)	1.002	0.590	0.145
(c) Other long term liabilities	0.355	0.300	0.306
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	91.336	97.923	65.002
(4) Current Liabilities
(a) Short term borrowings	87.472	80.439	67.483
(b) Trade payables	53.068	44.220	37.908
(c) Other current liabilities	59.563	47.153	34.627
(d) Short-term provisions	1.633	0.936	1.120
Total Current Liabilities (4)	201.736	172.748	141.138
TOTAL	355.410	329.402	251.439
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	71.962	65.208	37.696
(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	22.273	17.448	11.788
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	3.664	1.912	2.078
(e) Other Non-current assets	0.110	0.149	0.188
Total Non-Current Assets	98.009	84.717	51.750
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	134.610	124.037	104.740
(c) Trade receivables	113.958	105.177	94.303
(d) Cash and cash equivalents	0.795	1.942	0.646
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	8.038	13.529	0.000
Total Current Assets	257.401	244.685	199.689
TOTAL	355.410	329.402	251.439

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	488.288	406.218
	Other Income	3.962	0.961
	TOTAL	492.250	407.179	318.286
Less	EXPENSES
	TOTAL	455.899	381.268	NA
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	36.351	25.911	22.639
Less	INTEREST	20.870	15.271	15.119
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	15.481	10.640	7.520
Less/ Add	DEPRECIATION/ AMORTISATION	9.829	5.828	3.872
	PROFIT/ (LOSS) BEFORE TAX	5.652	4.812	3.648
Less	TAX	2.045	1.380	1.018
	PROFIT/ (LOSS) AFTER TAX	3.607	3.432	2.630
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	10.838	7.406	4.776
	Balance Carried to the B/S	14.445	10.838	7.406
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	30.739	5.338	0.000
	TOTAL EARNINGS	30.739	5.338	0.000
	Earnings / (Loss) Per Share (Rs.)	0.75	0.72	0.55

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.73	0.84	NA
Operating Profit Margin (PBIDT/Sales)	(%)	7.38	6.36	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.70	1.54	1.52
Return on Investment (ROI) (PBT/Networth)		0.09	0.08	0.08
Debt Equity Ratio (Total Debt /Networth)		2.85	3.02	2.91
Current Ratio (Current Asset/Current Liability)		1.28	1.42	1.41

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	37.893	37.893	47.893
Reserves & Surplus	7.406	10.838	14.445
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	10.000	0.000
Net worth	45.299	58.731	62.338
long-term borrowings	64.551	97.033	89.979
Short term borrowings	67.483	80.439	87.472
Total borrowings	132.034	177.472	177.451
Debt/Equity ratio	2.915	3.022	2.847

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	318.286	407.179	492.250
		27.929	20.893

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	318.286	407.179	492.250
Profit	2.630	3.432	3.607
	0.83%	0.84%	0.73%

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	No
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)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
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	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: The Registered office has been shifted from 433, Neelkanth Apartment, Block 4, Sector-13, Rohini, Delhi, India to the present address w.e.f. 16.03.2009

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans from Directors Relatives	27.884	45.899
Loans from Directors	8.885	9.363
Total	36.769	55.262

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10559871	19/03/2015	1,700,000.00	Bank of India	Bank Street Branch, Karol Bagh, New Delhi, Delhi -  110005, INDIA	C49395585
2	10559874	19/03/2015	12,000,000.00	Bank of India	Bank Street Branch, Karol Bagh, New Delhi, Delhi -  110005, INDIA	C49395882
3	10471296	28/12/2013	750,000.00	Bank of India	Bank Street Branch, Karol Bagh, New Delhi, Delhi  - 110005, INDIA	B93926483
4	10422914	22/04/2013	414,000.00	Bank of India	Bank Street Branch, Karol Bagh, New Delhi, Delhi  - 110005, INDIA	B74119272
5	10378847	19/09/2012	35,750,000.00	Bank of India	Bank Street Branch, Karol Bagh, New Delhi, Delhi  - 110005, INDIA	B59013979
6	10365158	28/06/2012	1,250,000.00	Bank of India	Bank Street, Karol Bagh, New Delhi, Delhi - 11000  5, INDIA	B43488915
7	10309207	07/09/2011	5,000,000.00	Bank of India	Bank Street Branch, Karol Bagh, New Delhi, Delhi  - 110005, INDIA	B22134340
8	10309209	07/09/2011	7,500,000.00	Bank of India	Bank Street Branch, Karol Bagh, New Delhi, Delhi  - 110005, INDIA	B22134886
9	10253394	19/03/2015 *	191,900,000.00	Bank of India	Bank Street Branch, Karol Bagh, New Delhi, Delhi -  110005, INDIA	C49395254
10	10220868	07/05/2010	425,000.00	Bank of India	Bank Street Branch, 2631, Karol Bagh, New Delhi,  Delhi - 110005, INDIA	A86045911

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.66.11
UK Pound	1	Rs.101.03
Euro	1	Rs.70.85

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	HNA
Report Prepared by :	SUD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
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		31

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.