MIRA INFORM REPORT

Report No. :	341086
Report Date :	16.09.2015

IDENTIFICATION DETAILS

Name :	OZONE HOMES PRIVATE LIMITED

Registered Office :	New No. 63, G.N. Chetty Road, T. Nagar, Chennai – 600017, Tamilnadu
Tel. No.:	91-44-43931500/28151529

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	16.07.2008

Com. Reg. No.:	18-068589

Capital Investment / Paid-up Capital :	Rs. 270.000 Million

CIN No.: [Company Identification No.]	U45200TN2008PTC068589

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AABCO3425H

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the business of Property development.

No. of Employees :	Not Divulged

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

Maximum Credit Limit :	USD 760000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject was incorporated in the year 2008 and it is established company having a moderate track record. The rating on company reflects company moderate financial risk profile marked by loss from its operation over the years. Due to losses, it has accumulated over the years and resulted in the deterioration of the capital structure of the company. Rating further constrained on the nature of the company’s business, extensive relying on working capital and delay in the completion of the projects. However, trade relations are fair. Business is active. Payment are reported to be slow but correct. In view of decent capital base, the company can be considered for the 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

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 PARTED BY (PARTIAL DETAILS)

Name :	Mr. K.R. Naidu
Designation :	Finance Manager
Contact No.:	91-44-43931500
Date :	14.09.2015

LOCATIONS

Registered Office :	New No. 63, G.N. Chetty Road, T. Nagar, Chennai – 600017, Tamilnadu, India
Tel. No.:	91-44-43931500/28151529
Fax No.:	91-44-28151530/28151530
E-Mail :	naidukr@ozonegroup.com cs@ozonegroup.com
Website :	www.ozonegroup.com

Site Office :	Gardenia, Chennai, Tamilnadu, India

Head Office :	#38 Uisoor Road Bangalore – 560042, Karnataka, India
Tel No.:	91-80-40395600
Fax No.:	91-80-25325561
Email :	info@ozonegroup.com

Benches :	Goa Mumbai

Overseas Office :	Dubai

DIRECTORS

As on 29.09.2014

Name :

Mr. Vasudevan Sathyamoorthy

Designation :

Director

Address :

G – 2, Sona Palace, 34, Norris Road, Richmond Town, Bangalore – 560025, Karnataka, India

Date of Birth/Age :

15.12.1967

Date of Appointment :

16.07.2008

DIN No.:

00022732

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	U85110KA1993PTC014087	TUSCAN CONSULTANTS AND DEVELOPERS PRIVATE LIMITED	Director	09/03/1993	09/03/1993	-	Active	NO
2	U85110KA1994PTC015253	TUSCAN PROPERTIES PRIVATE LIMITED	Director	22/02/1994	22/02/1994	-	Active	NO
3	U74140KA1998PTC023416	TUSCAN ENGINEERING CONSULTANCY SERVICES PRIVATE LIMITED	Director	24/02/1998	24/02/1998	-	Strike off	NO
4	U72200KA2000PTC026556	eSYMMETRYX TECHNOLOGIES PRIVATE LIMITED	Director	19/06/2000	19/06/2000	29/12/2007	Strike off	NO
5	U45203KA2004PTC033457	OZONE PROPERTIES PRIVATE LIMITED	Director	26/02/2004	26/02/2004	-	Active	NO
6	U74210KA2004PTC035015	OZONE PROPEX PRIVATE LIMITED	Director	01/03/2015	16/11/2004	-	Active	NO
7	U70101TN2005PTC056894	OZONE PROJECTS PRIVATE LIMITED	Managing director	19/08/2014	13/07/2005	-	Active	NO
8	U70109KA2006PTC039980	OZONE HOLDINGS PRIVATE LIMITED	Director	18/07/2006	18/07/2006	-	Active	NO
9	U70102KA2006PTC040226	OZONE DEVELOPERS BANGALORE PRIVATE LIMITED	Director	17/08/2006	17/08/2006	-	Active	NO
10	U45201KA2006PTC040692	OZONE LEISURE AND RESORTS PRIVATE LIMITED	Director	09/10/2006	09/10/2006	-	Active	NO
11	U45200KA1992PTC012791	OZONE CITY DEVELOPERS PRIVATE LIMITED	Director	29/09/2007	18/01/2007	-	Active	NO
12	U45209KA2006PTC038236	OZONE URBANA INFRA DEVELOPERS PRIVATE LIMITED	Managing director	01/03/2015	22/03/2007	-	Active	NO
13	U92490KA2004PTC034671	HANSOGE ENTERPRISES PRIVATE LIMITED	Director	25/09/2008	31/12/2007	15/09/2009	Active	NO
14	U45200KA2008PTC045424	OZONE LIFESTYLE PROJECTS PRIVATE LIMITED	Director	27/02/2008	27/02/2008	-	Active	NO
15	U74140KA2008PTC045737	SPG FACILITY MANAGEMENT PRIVATE LIMITED	Director	25/03/2008	25/03/2008	-	Active	NO
16	U45201KA2008PTC046895	OZONE INFRA CON PRIVATE LIMITED	Director	24/06/2008	24/06/2008	-	Active	NO
17	U45201KA2008PTC046894	OZONE REALTORS PRIVATE LIMITED	Director	24/06/2008	24/06/2008	-	Active	NO
18	U45200KA2008PTC046913	OZONE SHELTERS PRIVATE LIMITED	Director	25/06/2008	25/06/2008	-	Active	NO
19	U45200TN2008PTC068589	OZONE HOMES PRIVATE LIMITED	Director	16/07/2008	16/07/2008	-	Active	NO
20	U70102TN2008PTC069197	OZONE RETAIL DEVELOPMENT PRIVATE LIMITED	Director	08/09/2008	08/09/2008	-	Active	NO
21	U45201KA2009PTC050762	OZONE INFRA DEVELOPERS PRIVATE LIMITED	Director	28/08/2009	28/08/2009	-	Active	NO
22	U92413KA2010PTC052367	Ozonegroup Football Academy Private Limited	Director	04/02/2010	04/02/2010	-	Active	NO
23	U45400KA2011PTC059511	True Living Spaces Private Limited	Director	07/07/2011	07/07/2011	31/03/2015	Active	NO
24	U67190KA2012PTC062378	Cannonball Tree Advisors Private Limited	Director	03/02/2012	03/02/2012	16/03/2012	Active	NO
25	AAB-0521	POSSESSION FOOTBALL LLP	Designated Partner	06/08/2012	06/08/2012

Name :

Mrs. Priya Vasudevan

Designation :

Director

Address :

G – 2, Sona Palace, 34, Norris Road, Richmond Town, Bangalore – 560025, Karnataka, India

Date of Birth/Age :

24.04.1972

Date of Appointment :

16.07.2008

DIN No.:

00774484

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	U70109KA2006PTC039980	OZONE HOLDINGS PRIVATE LIMITED	Director	18/07/2006	18/07/2006	-	Active	NO
2	U70102KA2006PTC040226	OZONE DEVELOPERS BANGALORE PRIVATE LIMITED	Director	17/08/2006	17/08/2006	03/11/2008	Active	NO
3	U45201KA2006PTC040692	OZONE LEISURE AND RESORTS PRIVATE LIMITED	Director	09/10/2006	09/10/2006	03/11/2008	Active	NO
4	U45209KA2006PTC038236	OZONE URBANA INFRA DEVELOPERS PRIVATE LIMITED	Additional director	15/01/2008	15/01/2008	22/07/2008	Active	NO
5	U45200KA2008PTC045424	OZONE LIFESTYLE PROJECTS PRIVATE LIMITED	Director	27/02/2008	27/02/2008	-	Active	NO
6	U74140KA2008PTC045737	SPG FACILITY MANAGEMENT PRIVATE LIMITED	Director	25/03/2008	25/03/2008	-	Active	NO
7	U45201KA2008PTC046895	OZONE INFRA CON PRIVATE LIMITED	Director	24/06/2008	24/06/2008	-	Active	NO
8	U45201KA2008PTC046894	OZONE REALTORS PRIVATE LIMITED	Director	24/06/2008	24/06/2008	-	Active	NO
9	U45200KA2008PTC046913	OZONE SHELTERS PRIVATE LIMITED	Director	25/06/2008	25/06/2008	16/02/2009	Active	NO
10	U45200TN2008PTC068589	OZONE HOMES PRIVATE LIMITED	Director	16/07/2008	16/07/2008	-	Active	NO
11	U70102TN2008PTC069197	OZONE RETAIL DEVELOPMENT PRIVATE LIMITED	Director	08/09/2008	08/09/2008	-	Active	NO
12	U45201KA2009PTC050762	OZONE INFRA DEVELOPERS PRIVATE LIMITED	Director	28/08/2009	28/08/2009	-	Active	NO
13	U92413KA2010PTC052367	Ozonegroup Football Academy Private Limited	Director	04/02/2010	04/02/2010	-	Active	NO
14	U74140KA1998PTC023416	TUSCAN ENGINEERING CONSULTANCY SERVICES PRIVATE LIMITED	Director	30/09/2011	24/01/2011	-	Strike off	NO
15	U85110KA1994PTC015253	TUSCAN PROPERTIES PRIVATE LIMITED	Director	30/09/2011	24/01/2011	-	Active	NO
16	U85110KA1993PTC014087	TUSCAN CONSULTANTS AND DEVELOPERS PRIVATE LIMITED	Director	30/09/2011	24/01/2011	-	Active	NO
17	U45400KA2011PTC059511	True Living Spaces Private Limited	Director	07/07/2011	07/07/2011	-	Active	NO
18	U67190KA2012PTC062378	Cannonball Tree Advisors Private Limited	Director	03/02/2012	03/02/2012	-	Active	NO
19	AAB-0521	POSSESSION FOOTBALL LLP	Designated Partner	06/08/2012	06/08/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. K.R. Naidu
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Equity Shareholders		No. of Shares
S. Vasudevan		5000
Priya Vasudevan		5000
Tuscan Consultants And Developers Private Limited, India		4990000

Total		5000000

Names of Preference Shareholders

No. of Shares

Tuscan Consultants And Developers Private Limited, India

22000000

Total

22000000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Bodies corporate	99.80
Directors or relatives of Directors	0.20
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of Property development.

Products/Services :	Real Estate Development

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Cash, Advance Payment and Cheque

Purchasing :	Cash, Advance Payment and Cheque

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

End Users and Others

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Not Divulged

Bankers :

HDFC Bank

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Non-convertible debentures others	340.000	0.000
Term loans	0.000	225.058

Total	340.000	225.058

Note:

Non Convertible Debentures

mortgage of land and building/structure of proposed project, personal guarantee of Mr. S. Vasudevan(director) and Pledge of entire shares of the Company

Mortgage

mortgage of land & building/structure of proposed project, personal guarantee of

Mr. S. Vasudevan(director) and Pledge of entire shares of the Company


Financial Institution :	PHL Finance Private Limited, 1^st Floor, Piramal Tower Annexe, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013, Maharashtra, India Piramal Healthcare Limited, Nicholas Piramal Tower Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013, Maharashtra, India IDBI Trusteeship Services Limited, Asian Building, Ground Floor 17, R. Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India

Auditors :
Name :	Pani and Associates Chartered Accountants
Address :	F 9, Tivari Manor, No.61, Kanakpura Road, Basavangudi, Bangalore – 560004, Karnataka, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAYPK8556F

Memberships :	--

Collaborators :	--

Holding Company :	Tuscan Consultants and Developers Private Limited CIN No.: U85110KA1993PTC014087

Associate Company :	Ozone Infra Developers Private Limited CIN No.: U45201KA2009PTC050762

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

5,000,000	Equity Shares	Rs.10/- each	Rs. 50.000 Million
22,000,000	Preference Shares	Rs.10/- each	Rs. 220.000 Million
	Total		Rs. 270.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

5,000,000	Equity Shares	Rs.10/- each	Rs. 50.000 Million
22,000,000	Preference Shares	Rs.10/- each	Rs. 220.000 Million
	Total		Rs. 270.000 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	270.000	270.000	270.000
(b) Reserves & Surplus	(2.621)	(1.877)	0.000
(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)	267.379	268.123	270.000

(3) Non-Current Liabilities
(a) long-term borrowings	340.000	225.058	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)	340.000	225.058	0.000

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	4.565	13.201	0.204
(c) Other current liabilities	215.334	189.535	14.504
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	219.899	202.736	14.708

TOTAL	827.278	695.917	284.708

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.361	0.419	0.024
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	200.000	200.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	200.000
(e) Other Non-current assets	70.000	0.000	1.460
Total Non-Current Assets	270.361	200.419	201.484

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	471.630	395.829	10.498
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	49.614	19.237	0.093
(e) Short-term loans and advances	32.225	77.256	72.633
(f) Other current assets	3.448	3.176	0.000
Total Current Assets	556.917	495.498	83.224

TOTAL	827.278	695.917	284.708

PROFIT & LOSS ACCOUNT

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

Less	EXPENSES
	Project Expenses		387.208	3.788
	Transferred to project work in progress		(385.330)	(3.788)
	TOTAL	NA	1.878	0.000

	PROFIT/ (LOSS) BEFORE TAX	NA	(1.878)	0.000

Less	TAX	NA	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX	(0.744)	(1.878)	0.000

	Earnings / (Loss) Per Share (Rs.)
	Basic	(0.15)	(0.09)	0.00
	Diluted	(0.03)	(0.07)	0.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	40.000	100.000	0.000
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	40.619	(305.482)	(0.005)

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	1.42	1.21	0.00

Current Ratio (Current Asset/Current Liability)	2.53	2.44	5.66

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	270.000	270.000	270.000
Reserves & Surplus	0.000	(1.877)	(2.621)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	270.000	268.123	267.379

long-term borrowings	0.000	225.058	340.000
Short term borrowings	0.000	0.000	0.000
Current maturities of long-term debts	0.000	100.000	40.000
Total borrowings	0.000	325.058	380.000
Debt/Equity ratio	0.000	1.212	1.421

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	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	No
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OPERATIONS AND RESULTS:

The construction work of the project Gardenia is in full swing and the Company launched its project for sales. Since the percentage of completion is minimal it has not recognized any revenue on percentage of completion method. Construction cost and all direct costs including interest have been capitalized. The net result of Operation has been loss Rs. 0.744 Million

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10486170	23/05/2014 *	420,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai, Maharashtra - 400001, INDIA	C06778138

*Date of charge modification

FIXED ASSETS

Furniture and fixtures
Office equipment
Computer equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No 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.66.37
UK Pound	1	Rs.102.54
Euro	1	Rs.75.32

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	KSH

Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

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

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MIRA INFORM REPORT

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