MIRA INFORM REPORT

Report No. :	349966
Report Date :	23.11.2015

IDENTIFICATION DETAILS

Name :	THE AMERICAN SWAN LIFESTYLE COMPANY PRIVATE LIMITED (w.e.f. 26.09.2012)
Formerly Known As :	FOUR CROSS MEDIA SERVICES PRIVATE LIMITED
Registered Office :	1301 B, Naurang House, 21 KG Marg, Connaught Place, New Delhi-110001
Tel. No.:	91-124-3006500
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.12.2010
Com. Reg. No.:	55-211151
Capital Investment / Paid-up Capital :	Rs. 75.703 Million
CIN No.: [Company Identification No.]	U74140DL2010PTC211151
IEC No.:	0512027722
TAN No.: [Tax Deduction & Collection Account No.]	DELF04575E
PAN No.: [Permanent Account No.]	AABCF6898F
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the wholesale trading of Apparel, Footwear, Accessories and Personal care items.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a step down subsidiary of “Four Cross Media Limited” United Kingdom, it was incorporated in the year 2010, and it is is engaged in the wholesale trading of Apparel, Footwear, Accessories and Personal care items. Rating takes consideration on company sound financial profile characterized by infusion of equity during FY-14, backed by its zero debt balance profile along with growing scale of its operations. The rating further takes into account strong financial, managerial, and technical support it receives from the ultimate holding company as well as diversifies product portfolio group. This rating strength is partially offsets by the losses incurred by a company from its operations and its accumulated losses which has eroded the reserves of the company. However, trade relation seems to be fair. Business is active. Payment terms are slow but correct. In view of strong holding support, the company can be considered for business dealings with its usual trade terms and conditions.

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

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 DECLINED BY

Name :	Mr. Deepak Tyagi
Designation :	Assistant Manager (Finance)
Contact No.:	91-124-3006500
Date :	18.11.2015

LOCATIONS

Registered Office :	1301 B, Naurang House, 21 KG Marg, Connaught Place, New Delhi-110001, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	finance@taslc.com service@americanswan.com customercare@americanswan.com ceo@americanswan.com hr@americanswan.com marketing@americanswan.com sales@americanswan.com
Website :	http://www.americanswan.com
Warehouse :	40km. stone, Delhi Jaipur Highway, Near Agarwal Packers and Movers Limited, Village Narsinghpur, Gurgaon-122001, Haryana, India
Head Offices :	708, 7^th Floor, tower A, Sohna Road, Sector 48, Gurgaon-122018, Haryana, India
Tel. No.:	91-124-3006500
Fax No.:	91-124-3006510

DIRECTORS

AS ON 19.09.2014

Name :

Mr. Puneet Johar

Designation :

Director

Address :

94, Block 1, Ground Floor,, Eros Garden Colony, Surajkund Road, Faridabad-121009, Haryana, India

Date of Birth/Age :

28.12.1971

Date of Appointment :

07.12.2010

DIN No.:

00279060

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	U72900DL2006PTC235208	TANGERINE DIGITAL ENTERTAINMENT PRIVATE LIMITED	Managing director	14/07/2006	14/07/2006	18/04/2013	Active	NO
2	U74140DL2010PTC211151	THE AMERICAN SWAN LIFESTYLE COMPANY PRIVATE LIMITED	Director	07/12/2010	07/12/2010	-	Active	NO
3	U15500DL2011PTC220616	COLDSMITHS FOOD SERVICES PRIVATE LIMITED	Director	09/06/2011	09/06/2011	-	Active	NO
4	U74999DL2011PTC226983	FAME DIGITAL PRIVATE LIMITED	Director	03/11/2011	03/11/2011	07/10/2013	Active	NO
5	U74120MH2011PTC223249	IGNITEE DIGITAL SERVICES PRIVATE LIMITED	Managing director	11/11/2014	21/12/2011	01/07/2015	Active	NO
6	U72300DL2008PTC179627	INTELLIGRAPE SOFTWARE PRIVATE LIMITED	Director	29/12/2011	29/12/2011	-	Active	NO
7	U22300DL2012PTC232823	TO THE NEW MEDIA PRIVATE LIMITED	Director	14/03/2012	14/03/2012	-	Active	NO

Name :

Mr. Sanjiv Gupta

Designation :

Director

Address :

907, A-Aralias, DLF Golf Cource, Phase-5, Gurgaon-122009, Haryana, India

Date of Birth/Age :

17.09.1961

Date of Appointment :

19.09.2014

DIN No.:

01241561

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	U74899DL1996PLC082842	VLCC HEALTH CARE LIMITED	Director	29/09/2007	25/01/2007	01/04/2008	Active	NO
2	U72200DL2005PTC140917	GETIT INFOSERVICES PRIVATE LIMITED	Managing director	07/03/2014	18/08/2008	-	Active	NO
3	U74899DL2000GOI107739	BHARAT SANCHAR NIGAM LIMITED	Director	05/09/2008	05/09/2008	05/09/2011	Active	NO
4	U74999DL2009PTC187167	PHI ENTERPRISES PRIVATE LIMITED	Director	02/02/2009	02/02/2009	04/02/2009	Active	NO
5	U74900DL2008PTC177820	TERABRIDGE ADVISORS INDIA PRIVATE LIMITED	Director	25/05/2009	01/04/2009	06/06/2009	Strike off	NO
6	U40106DL2010PTC207557	SG SOL ENERGY PRIVATE LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
7	U74140DL2010PTC211151	THE AMERICAN SWAN LIFESTYLE COMPANY PRIVATE LIMITED	Director	19/09/2014	07/12/2010	-	Active	NO
8	U74999DL2011PTC226983	FAME DIGITAL PRIVATE LIMITED	Director	03/11/2011	03/11/2011	07/10/2013	Active	NO
9	U74120MH2011PTC223249	IGNITEE DIGITAL SERVICES PRIVATE LIMITED	Director	22/12/2011	21/12/2011	01/07/2015	Active	NO
10	U72300DL2008PTC179627	INTELLIGRAPE SOFTWARE PRIVATE LIMITED	Director	29/12/2011	29/12/2011	12/05/2014	Active	NO
11	U22300DL2012PTC232823	TO THE NEW MEDIA PRIVATE LIMITED	Director	14/03/2012	14/03/2012	-	Active	NO
12	U74999DL2012PTC236734	GETIT STORES PRIVAT LIMITED	Director	30/05/2012	30/05/2012	-	Active	NO
13	U72300DL1998PTC093464	CONNECT MARKET DATA PRIVATE LIMITED	Director	14/02/2013	14/02/2013	-	Active	NO
14	U22200DL2013PTC248760	GETIT TRANSNATIONAL PRIVATE LIMITED	Director	27/02/2013	27/02/2013	-	Active	NO

Name :

Mr. Dhruvank Mrugank Vaidya

Designation :

Director

Address :

A-401, Mon Repos, H.K. Bhabha Road, Bandstand, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

03.01.1973

Date of Appointment :

19.09.2014

DIN No.:

05172955

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	U74120MH2012PTC227735	BANDSTAND MEDIA TECHNOLOGIES PRIVATE LIMITED	Director	06/03/2012	06/03/2012	-	Active	NO
2	U92419MH2012PTC236617	TAC MEDIA PRIVATE LIMITED	Director	09/10/2012	09/10/2012	16/12/2013	Active	NO
3	U74999DL2011PTC226983	FAME DIGITAL PRIVATE LIMITED	Director	06/09/2013	11/06/2013	-	Active	NO
4	U74140DL2010PTC211151	THE AMERICAN SWAN LIFESTYLE COMPANY PRIVATE LIMITED	Director	19/09/2014	03/12/2013	-	Active	NO
5	U72300DL2008PTC179627	INTELLIGRAPE SOFTWARE PRIVATE LIMITED	Director	30/09/2015	25/11/2014	-	Active	NO
6	U72900DL2015FTC283576	THOUGHTBUZZ INDIA PRIVATE LIMITED	Director	04/08/2015	04/08/2015	-	Active	NO

Name :

Mr. Anurag Rajpal

Designation :

Director

Address :

Flat-3/B, Tower GH-2, Orchid Garden, Sun City, Sector-54, Gurgaon-122003, Haryana, India

Date of Birth/Age :

03.09.1975

Qualification :

B. Tech (Textiles)

Date of Appointment :

14.01.2013

DIN No.:

06470404

KEY EXECUTIVES

Name :	Mr. Deepak Tyagi
Designation :	Assistant Manager (Finance)

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 19.09.2014

Names of Shareholders	No. of Shares
American Swan Asia Pacific Pte Limited, Singapore	9568768
Anurag Rajpal	136432
Total	9705200

AS ON 18.11.2014

Names of Allottee	No. of Shares
American Swan Asia Pacific Pte Limited, Singapore	732375
Total	732375

AS ON 16.10.2015

Names of Allottee	No. of Shares
American Swan Asia Pacific Pte Limited, Singapore	348830
Total	348830

AS ON 19.09.2014

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	98.59
Directors or relatives of directors	1.41
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the wholesale trading of Apparel, Footwear, Accessories and Personal care items.
Products/ Services :
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

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 :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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

Auditors :

Name :

S.V. Ghatalia and Associates LLP

Chartered Accountants

Address :

Golf View Corporate Towe-B. Sector-42, Sector Road, Gurgaon-122002, Haryana, India

Income-tax PAN of auditor or auditor's firm :

ACHFS9181P

Memberships :

--

Collaborators :

--

Ultimate Holding Company :

Four Cross Media Limited, United Kingdom

Holding Company :

American Swan Asia Pacific Pte Limited, Singapore

CAPITAL STRUCTURE

AFTER 19.09.2014

Authorised Capital : Rs. 180.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 123.205 Million

AS ON 19.09.2014

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
9,705,200	Equity Shares	Rs. 10/- each	Rs. 97.052 Million

AS ON 31.03.2014

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
7,570,310	Equity Shares	Rs. 10/- each	Rs. 75.703 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	75.703	31.462	0.100
(b) Reserves & Surplus	(39.546)	6.888	(3.280)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	47.069	19.000
Total Shareholders’ Funds (1) + (2)	36.157	85.419	15.820
(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	0.120	0.069	0.000
(d) long-term provisions	2.181	0.885	0.000
Total Non-current Liabilities (3)	2.301	0.954	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	78.488	32.105	0.732
(c) Other current liabilities	5.036	4.902	0.015
(d) Short-term provisions	12.704	2.039	0.305
Total Current Liabilities (4)	96.228	39.046	1.052
TOTAL	134.686	125.419	16.872
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.526	2.048	0.713
(ii) Intangible Assets	8.124	7.095	0.000
(iii) Capital work-in-progress	0.000	0.000	0.383
(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	3.205	2.397	0.775
(e) Other Non-current assets	0.954	0.396	0.000
Total Non-Current Assets	13.809	11.936	1.871
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	59.075	30.068	0.000
(c) Trade receivables	51.743	15.567	0.000
(d) Cash and cash equivalents	2.892	58.349	15.001
(e) Short-term loans and advances	7.121	9.046	0.000
(f) Other current assets	0.046	0.453	0.000
Total Current Assets	120.877	113.483	15.001
TOTAL	134.686	125.419	16.872

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		19.682	0.000
		Other Income		3.358	0.000
		TOTAL (A)	131.090	23.040	0.000
Less	EXPENSES
		Purchases of Stock-in-Trade		42.867	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		(30.068)	0.000
		Employees benefits expense		50.986	1.864
		Other expenses		77.110	1.277
		TOTAL (B)	349.225	140.895	3.141
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(Including Financial and Depreciation Expenses)	(117.855)	(3.141)
Less	FINANCIAL EXPENSES (D)			0.137	0.011
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			(117.992)	(3.152)
Less/ Add	DEPRECIATION/ AMORTISATION (F)			1.471	0.058
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(218.135)	(119.463)	(3.210)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(218.135)	(119.463)	(3.210)
	IMPORTS
		Purchase of Traded Goods		2.560	0.000
		Capital Goods		1.335	0.000
	TOTAL IMPORTS		NA	3.895	0.000
	Earnings Per Share (Rs.)		(28.81)	(92.13)	(320.95)

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 used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	NA	(606.97)	0.00
Operating Profit Margin (PBDIT/Sales)	(%)	NA	(598.80)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(161.96)	(95.25)	(19.47)
Return on Investment (ROI) (PBT/Networth)		(6.03)	(1.40)	(0.20)
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.26	2.91	14.26

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	31.462	75.703
Reserves & Surplus	(3.280)	6.888	(39.546)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	19.000	47.069	0.000
Net worth	15.820	85.419	36.157
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	0.000	23.040	131.090
			468.967

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	0.000	23.040	131.090
Profit	(3.210)	(119.463)	(218.135)
		(518.50%)	(166.40%)

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	No
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	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	No
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

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

CORPORATE INFORMATION:

Subject is a private limited company domiciled in India, was incorporated on 7 th December 2010 under the provisions of the Companies Act, 1956. The company is engaged in the wholesale trading of Apparel, Footwear, Accessories and Personal care items. The company caters to the domestic market through distributors and through online aggregators.

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from M-2, Green Park Main, New Delhi-110016, Delhi, India to the present address w.e.f 01.05.2014

FIXED ASSETS:

Tangible Assets

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Leasehold Improvements

Intangible Assets

· Computer software

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. 66.09
UK Pound	1	Rs. 101.04
Euro	1	Rs. 70.86

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	KAS
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	--
--CREDIT LINES	1~10	6
--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		42

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.