MIRA INFORM REPORT

Report No. :	342086
Report Date :	21.09.2015

IDENTIFICATION DETAILS

Name :	GETIT STORES PRIVATE LIMITED
Registered Office :	1205, 12th Floor, New Delhi House, Barakhamba Road, New Delhi - 110001
Tel. No.:	91-120-4792800
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.05.2012
Com. Reg. No.:	55-236734
Capital Investment / Paid-up Capital :	Rs. 1.000 Million
CIN No.: [Company Identification No.]	U74999DL2012PTC236734
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject engaged in the business of e-commerce and it derives revenue from online website creation, promotional packages and commission earned on transaction of goods sold through the company's website "Getit Bazaar".
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (15)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was incorporated in the year 2012. It is engaged in the business of e-commerce and it derives revenue from online website creation, promotional packages and commission earned on transaction of goods sold through the company's website "Getit Bazaar". During the year under review, company incurred accumulated losses of Rs.245.800 Million which exceeds the net worth of the company and hence the net worth of the company is fully eroded as on 31st March 2014. Rating further constrained on company's huge external borrowing which have threaten the liquidity position of the company, susceptibility of its profitability margins and though competition from well established players in e-commerce industry. However, business is active. Payments are reported to be slow and delayed. The company can be considered for business dealings with some cautions.

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 PARTED BY

Name :	Mr. Pawan Lohia
Designation :	Account Manager
Contact No.:	91-120-4792800
Date :	19.09.2015

LOCATIONS

Registered Office :	1205, 12th Floor, New Delhi House, Barakhamba Road, New Delhi – 110001, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	archana.maini@getitinfomedia.com
Website :	www.getitinformedia.com
Location:	Owned
Locality:	Commercial
Branch Office 1:	6th Floor, GYS Heights, Plot No 11 and 12, Sector 125, Noida – 201301, Uttar Pradesh, India
Branch Office 2 :	GYS Heights, Plot No. 10811, 2^nd Floor, Tower – C, Sector – 125, Noida – 201303, Uttar Pradesh, India
Tel. No.:	91-120-4792800
Fax No.:	91-120-2427513
Location :	Owned

DIRECTORS

AS ON 30.09.2014

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 :

30.05.2012

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	1/4/2008	Active	NO
2	U72200DL2005PTC140917	GETIT INFOSERVICES Private LIMITED	Managing director	7/3/2014	18/08/2008	-	Active	NO
3	U74899DL2000GOI107739	BHARAT SANCHAR NIGAM LIMITED	Director	5/9/2008	5/9/2008	5/9/2011	Active	NO
4	U74999DL2009PTC187167	PHI ENTERPRISES PRIVATE LIMITED	Director	2/2/2009	2/2/2009	4/2/2009	Active	NO
5	U74900DL2008PTC177820	Terabridge Advisors India Private Limited	Director	25/05/2009	1/4/2009	6/6/2009	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	7/12/2010	-	Active	NO
8	U74999DL2011PTC226983	Fame Digital Private Limited	Director	3/11/2011	3/11/2011	7/10/2013	Active	NO
9	U74120MH2011PTC223249	IGNITEE DIGITAL SERVICES PRIVATE LIMITED	Director	22/12/2011	21/12/2011	1/7/2015	Active	NO
10	U72300DL2008PTC179627	INTELLIGRAPE SOFTWARE PRIVATE LIMITED	Director	29/12/2011	29/12/2011	12/5/2014	Active	NO
11	U22300DL2012PTC232823	ToTheNew 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. Anand Sonbhadra

Designation :

Director

Address :

Flat No-2183, Sect B, Pkt-2/3, Vasant Kunj, New Delhi - 110070, India

Date of Birth/Age :

27.01.1965

Date of Appointment :

30.09.2014

DIN No.:

02075207

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	U24231TN1991PTC020695	ALVED PHARMA FOODS PRIVATE LIMITED	Director	4/2/2008	4/2/2008	-	Amalgamated	NO
2	U93000MH2007PLC203686	Zoetis India Limited	Director	10/10/2008	10/10/2008	1/12/2009	Active	NO
3	U51109MH2009PTC191942	J.T. Baker Chemicals Private Limited	Director	30/09/2011	30/06/2011	30/09/2012	Active	NO
4	U37100HR2012PTC047649	DATASERV GLOBAL PRIVATE LIMITED	Additional director	18/11/2013	18/11/2013	23/09/2014	Active	NO
5	U22200DL2013PTC248760	GETIT TRANSNATIONAL PRIVATE LIMITED	Director	25/08/2014	25/08/2014	-	Active	NO
6	U72300DL1998PTC093464	CONNECT MARKET DATA PRIVATE LIMITED	Director	30/09/2014	4/9/2014	-	Active	NO
7	U74999DL2012PTC236734	GETIT STORES PRIVAT LIMITED	Director	30/09/2014	4/9/2014	-	Active	NO
8	U51224DL2015PTC279116	Getit Grocery Private limited	Director	16/04/2015	16/04/2015	-	Active	NO
9	U51909DL2015PTC283741	Getit Furniture Private Limited	Director	6/8/2015	6/8/2015	-	Active	NO

Name :

Mr. Piyush Pankaj

Designation :

Director

Address :

A802/T-1, Ashiana Upvan, Ahinsa Khand 2, Indirapuram, Ghaziabad - 201014, Uttar Pradesh, India

Date of Birth/Age :

26.06.1975

Date of Appointment :

30.09.2014

DIN No.:

05242542

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	U72200DL2005PTC140917	GETIT INFOSERVICES Private LIMITED	Director	1/3/2012	1/3/2012	1/9/2014	Active	NO
2	U64120DL1999PTC102931	AIRTIME MARKETING AND SALES INDIA PRIVATE LIMITED	Director	30/07/2012	5/6/2012	12/9/2014	Active	NO
3	U72300DL1998PTC093464	CONNECT MARKET DATA PRIVATE LIMITED	Director	14/02/2013	14/02/2013	-	Active	NO
4	U74999DL2012PTC236734	GETIT STORES PRIVAT LIMITED	Director	30/09/2014	14/02/2013	-	Active	NO
5	U22200DL2013PTC248760	GETIT TRANSNATIONAL PRIVATE LIMITED	Director	27/02/2013	27/02/2013	-	Active	NO
6	U67110DL2015PTC275531	Getit E-wallet Private Limited	Director	15/01/2015	15/01/2015	-	Active	NO
7	U51224DL2015PTC279116	Getit Grocery Private limited	Director	16/04/2015	16/04/2015	-	Active	NO
8	U51909DL2015PTC283741	Getit Furniture Private Limited	Director	6/8/2015	6/8/2015	-	Active	NO

Name :

Mr. Kirankumar Srinivasa Murthi

Designation :

Director

Address :

S-214, Second Floor, Gk-2, New Delhi - 110048, India

Date of Birth/Age :

25.08.1973

Date of Appointment :

14.02.2013

DIN No.:

06444833

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	U93000DL2013PTC247405	LOCI MARKETING PRIVATE LIMITED	Director	17/01/2013	17/01/2013	-	Active	NO
2	U74999DL2012PTC236734	GETIT STORES PRIVAT LIMITED	Director	14/02/2013	14/02/2013	-	Active	NO
3	U67110DL2015PTC275531	Getit E-wallet Private Limited	Director	15/01/2015	15/01/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pawan Lohia
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Getit Infoservices Private Limited	99999
Mr. Sidharth Gupta(as nominee of Getit Infoservices Private Limited)	1
Total	100000

AS ON 23.04.2015

Names of Allottees	No. of Shares
Getit Infoservices Private Limited	254268
Total	254268

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	99.99
Directors or relatives of Directors	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject engaged in the business of e-commerce and it derives revenue from online website creation, promotional packages and commission earned on transaction of goods sold through the company's website "Getit Bazaar".
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and credit (30, 60, 90 Days)
Purchasing :	Cash and credit (30, 60, 90 Days)

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 OEMS

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 :

20 (Approximately)

Bankers :

Banker Name	Yes Bank
Branch Address	Noida, Uttar Pradesh, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Working Capital loan *	0.000	442.100
Total	0.000	442.100

Note: * During the current year the company has repaid working capital demand loan of Rs. 442.100 Million to yes Bank Limited, which is 100% guaranteed by Standby letter of credit counter guaranteed by Astro Overseas Limited (Subsidiary of Ultimate holding company to CIMB Malaysia which in form gives guarantee by standby letter of credit r counter guarantee of lender

Auditors :
Name :	B S R and Company Chartered Accountants
Address :	Building No. 10, 8th Floor, Tower- B, DLF Cyber City, Phase- II, Gurgaon – 122002, Haryana, India
Tel. No.:	91-124-2549191
Fax No.:	91-124-2549101
PAN N Income-tax PAN of auditor or auditor's firm :	AAIFB0630K
Memberships :	Not Available
Collaborators :	Not Available
Holding Company:	Getit Infoservices Private Limited [U72200DL2005PTC140917]
Ultimate Holding Company	Astro Holdings Sdn Bhd, Malaysia
Fellow Subsidiary:	Connect Market Data Private Limited
Associates/group Companies where common control exists:	Tangerine Digital Entertainment Private Limited Ignitee Digital Services Private Limited Intelligrape Software Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
400000	Equity Shares	Rs.10/- each	Rs. 4.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
354268	Equity Shares	Rs.10/- each	Rs. 3.543Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs. 2.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.000	1.000
(b) Reserves & Surplus	(245.893)	(31.245)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	(244.893)	(30.245)
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.451	0.104
Total Non-current Liabilities (3)	0.451	0.104
(4) Current Liabilities
(a) Short term borrowings	220.781	465.389
(b) Trade payables	45.487	16.659
(c) Other current liabilities	19.021	4.478
(d) Short-term provisions	0.001	0.000
Total Current Liabilities (4)	285.290	486.526
TOTAL	40.848	456.385
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.092	0.519
(ii) Intangible Assets	12.105	9.411
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	5.768
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	14.197	15.698
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	0.896	437.278
(e) Short-term loans and advances	23.792	3.380
(f) Other current assets	1.963	0.029
Total Current Assets	26.651	440.687
TOTAL	40.848	456.385

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income	49.857	0.055
	Other Income
	TOTAL	49.857	0.055
Less	EXPENSES	264.506	31.300
	PROFIT/ (LOSS) BEFORE TAX	(214.649)	(31.245)
Less	TAX	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	(214.649)	(31.245)
	Earnings / (Loss) Per Share (Rs.)	(2146.49)	(312.45)

Particulars	31.03.2015
Sales Turnover (Approximately)	100.000

The above information has been parted by Mr. Pawan Lohia

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA
Cash generated from operations	NA	NA
Net cash flows generated from (used in) in operating activities	(158.816)	(12.551)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Return on Total Assets (PBT/Total Assets}	(%)	(525.48)	(6.93)
Return on Investment (ROI) (PBT/Networth)		0.88	1.03
Debt Equity Ratio (Total Debt /Networth)		(0.90)	(15.39)
Current Ratio (Current Asset/Current Liability)		0.09	0.91

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	1.000	1.000
Reserves & Surplus	(31.245)	(245.893)
Money received against share warrants	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	(30.245)	(244.893)
long-term borrowings	0.000	0.000
Short term borrowings	465.389	220.781
Total borrowings	465.389	220.781
Debt/Equity ratio	(15.387)	-0.902

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Total Income	0.055	49.857
		90,549.091

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Total Income	0.055	49.857
Profit	(31.245)	(214.649)
	(56809.09%)	(430.53%)

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	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	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last two 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

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
From related parties #	220.781	23.289
Total	220.781	23.289
Note: # 14% P A unsecured loan from Getit Infoservices Private Limited, the holding company, amounting to Rs. 220.781 Million (previous year Rs. 23.289 Million) repayable on demand.

FIXED ASSETS

• Computers
• Office equipment’s

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.66.71
UK Pound	1	Rs.105.10
Euro	1	Rs.77.11

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAS
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	3
FINANCIAL CONDITION		--
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	1
--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		15

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

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