MIRA INFORM REPORT

Report No. :	484478
Report Date :	08.01.2018

IDENTIFICATION DETAILS

Name :	SUGOI MOTORS PRIVATE LIMITED
Registered Office :	A-2, Udyog Nagarindl Area, Rohtak Road, New Delhi-110041
Mobile No.:	91-11-45540000
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	05.08.2005
Com. Reg. No.:	55-139400
Capital Investment / Paid-up Capital :	INR 10.000 Million
CIN No.: [Company Identification No.]	U34103DL2005PTC139400
IEC No.:	Not Divulged
GSTIN:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAJCS3461R
Legal Form :	Private Limited Liability Company
Line of Business :	To carry on the business of trading in vehicles, spares and accessories. (Registered Activity)
No. of Employees :	Not Divulged

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Maximum Credit Limit :	USD 280000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2005 having moderate track record. Management of the company has not filed its financial with the government department for the year 2017. As per available financial of 2016, profit of the company has sharply declined. The rating is also constrained on account of increased in debt level during FY 2016 and high competitive intensity in its area of operations. Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. 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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 08.01.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DENIED BY

Name :	Mr. Yadur Kapur
Designation :	Director
Contact No.:	91-9810000672
Date :	05.01.2018

Name :	Mr. Ashish Kapoor
Designation :	Chief Finance Officer
Contact No.:	91-9891075390
Date :	05.01.2018

LOCATIONS

Registered Office :	A-2, Udyog Nagarindl Area, Rohtak Road, New Delhi-110041, India
Tel. No.:	91-11-45540000
Mobile No.:	91-9810000672 (Mr. Yadur Kapur) 91-9891075390 (Mr. Ashish Kapoor)
Fax No.:	Not Available
E-Mail :	ashishkapoor1973@gmail.com cs@rrhonda.com

DIRECTORS

As on 31.03.2017

Name :

Mr. Yadur Kapur

Designation :

Director

Address :

A-2, Udyog Nagar, Industrial Estate, Rohtak Road, New Delhi-110041, India

Date of Birth/Age :

19.06.1970

Qualification:

MBA

Date of Appointment :

05.08.2005

DIN No:

00910820

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U50400DL2017PTC325946	DEUTSCHE CARS PRIVATE LIMITED	14/11/2017	-
U70100DL2011PTC224053	SAY REAL ESTATE PRIVATE LIMITED	24/08/2011	-
U70100DL2011PTC215499	ATEEYA ESTATES PRIVATE LIMITED	09/03/2011	-
U70100DL2010PTC212013	ARDEE ESTATE PRIVATE LIMITED	30/09/2015	-
U70102DL2011PTC212703	GOPAL DAS REALTY & INFRASTRUCTURE PRIVATE LIMITED	30/09/2015	-
U70109DL2010PTC212012	ARDEE ESTATE DEVELOPERS(DELHI) PRIVATE LIMITED	30/09/2015	-
U70101DL2011PTC212071	ARDEE REAL ESTATE & HOUSING PRIVATE LIMITED	30/09/2015	-
U45400DL2009PTC194822	MAY INFRASTRUCTURE PRIVATE LIMITED	01/10/2009	-
U34100DL2008PTC182278	ITALICA MOTORS PRIVATE LIMITED	21/08/2008	-
U55204DL2008PTC175434	INTERNATIONAL GLASHAUS PRIVATE LIMITED	17/03/2008	-
U51909DL2008PTC173300	SELECT CARS PRIVATE LIMITED	29/01/2008	-
U70101DL2002PTC116402	R M K ESTATES PRIVATE LIMITED	02/08/2002	-
U10101DL2000PTC108810	JHARKHAND COAL PRIVATE LIMITED	15/03/2004	-
U51502DL1998PTC097685	DEUTSCHE MOTOREN PRIVATE LIMITED	22/12/2005	-
U66000DL1998PTC095065	BYR INSURANCE BROKERS PRIVATE LIMITED	22/04/2008	-
U50500DL1997PTC087354	RING ROAD MOTORS PRIVATE LIMITED	19/05/1997	-
U70102DL1984PTC017673	HOOVER CONSTRUCTION PRIVATE LIMITED	30/09/2015	-
U70101DL1984PLC242880	KANOI PROJECTS LIMITED	06/05/2005	-

Name :

Mr. Rajiv Pruthi

Designation :

Director

Address :

H. No. 1550, Sector 15, Faridabad-121006, Haryana, India

Date of Appointment :

17.06.2017

DIN No:

07852886

KEY EXECUTIVES

Name :	A.K. Popli and Company
Designation :	Company Secretaries
Address :	106, C-2/4, Pragati Market, Ashok Vihar Phase – II, Delhi – 110052, India
Email:	akpoplico@gmail.com akpopli@rediffmail.com
Tel. No:	91-11-27460196/ 27431426
Email:	91-9811634710
Name :	Mr. Ashish Kapoor
Designation :	Chief Finance Officer

MAJOR SHAREHOLDERS

As on 31.03.2016

Names of Shareholders	No. of Shares	% of Holding
Yadur Kapur	90000	9.00
Vijay Kapur	910000	91.00
Total	1000000	100.00

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2016

Category	Percentage
Promoters (Individual/Hindu Undivided Family – Non-resident Indian (NRI))	91.00
Promoters (Individual/Hindu Undivided Family Foreign national (other than NRI)	9.00
Total	100.00

BUSINESS DETAILS

Line of Business :

To carry on the business of trading in vehicles, spares and accessories. (Registered Activity)

Products / Services :

Item Code No.	Products/Services Description
99611811	vehicles, spares and accessories

Trade Name:

Ring Road Honda

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Divulged

Bankers :

Banker Name :	Kotak Mahindra Prime Limited
Branch :	27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

• State Bank of India, SME Branch, DSIDC, Rohtak Road, Industrial Complex, Nangloi, New Delhi-110041, India

Facilities :

Secured Loan	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
Loans repayable on demand from banks	515.511	276.857
Total	515.511	276.857

Auditors :
Name :	R.C Kapoor and Company Chartered Accountants
Address :	D-36, Ground Floor, South Extension, Part-Ii, New Delhi-110049, India
Income-tax PAN of auditor or auditor's firm :	AJLPK5900B
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	Bas Engineering Private Limited, India (U72200DL1997PTC087067) Deutsche Motoren Private Limited, India (U51502DL1998PTC097685) Mirkana Engineering Private Limited, India (U74899DL1972PTC006219)

CAPITAL STRUCTURE

As on: 30.09.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	INR 10/- each	INR 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	INR 10/- each	INR 10.000 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	10.000	10.000	10.000
(b) Reserves and Surplus	89.174	87.899	46.758
(c) Money received against share warrants	0.000	0.000	0.000
(d) Minority interest	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	99.174	97.899	56.758
(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	0.611	2.403	4.194
(d) long-term provisions	4.214	3.183	2.133
Total Non-current Liabilities (3)	4.825	5.586	6.327
(4) Current Liabilities
(a) Short-term borrowings	515.511	276.857	144.195
(b) Trade payables	17.121	16.751	48.987
(c) Other current liabilities	70.518	78.099	98.434
(d) Short-term provisions	22.570	34.630	15.135
Total Current Liabilities (4)	625.720	406.337	306.751
TOTAL	729.719	509.822	369.836
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	37.586	30.096	34.096
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets 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)	2.702	2.158	1.470
(d) Long-term loans and advances	23.539	23.581	17.101
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	63.827	55.835	52.667
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	371.275	293.241	191.078
(c) Trade receivables	47.742	58.611	68.369
(d) Cash and bank balances	206.195	65.852	45.836
(e) Short-term loans and advances	37.536	35.681	11.886
(f) Other current assets	3.144	0.602	0.000
Total Current Assets	665.892	453.987	317.169
TOTAL	729.719	509.822	369.836

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Total Revenue from operations	2383.198	2341.650	1477.236
	Other Income	3.364	1.181	1.681
	TOTAL	2386.562	2342.831	1478.917
Less	EXPENSES
	Purchases of Stock-in-Trade	2290.807	2249.210	1416.397
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(78.034)	(102.163)	(81.081)
	Employee benefit expense	45.711	39.983	33.322
	CSR expenditure	0.693	0.000	0.000
	Other expenses	86.637	69.255	55.685
	TOTAL	2345.814	2256.285	1424.323
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	40.748	86.546	54.594
Less	FINANCIAL EXPENSES	34.376	19.185	13.893
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	6.372	67.361	40.701
Less/ Add	DEPRECIATION/ AMORTISATION	4.478	5.077	3.973
	PROFIT/ (LOSS) BEFORE TAX	1.894	62.284	36.728
Less	TAX	0.722	20.617	12.921
	PROFIT/ (LOSS) AFTER TAX	1.172	41.667	23.807
	Earnings / (Loss) Per Share (INR)	1.172	41.667	23.807

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	NA	NA	NA
Net cash flows from (used in) operations	(51.886)	(62.045)	85.580
Net cash flows from (used in) operating activities	(53.049)	(83.346)	98.932

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days [Sundry Debtors / Income * 365]	7.31	9.14	16.89
Account Receivables Turnover [Income / Sunday Debtors]	49.92	39.95	21.61
Average Payment Days [Sundry Creditors / Purchases * 365]	2.73	2.72	12.62
Inventory Turnover [Operating Income / Inventories]	0.11	0.30	0.29
Asset Turnover [Operating Income / Net Fixed Assets]	1.08	2.88	1.60

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets]	0.86	0.80	0.83
Debt Equity Ratio (Borrowings / NetWorth)	5.20	2.83	2.54
Current Liabilities to Networth (Current Liabilities / NetWorth)	6.31	4.15	5.40
Fixed Assets to NetWorth (Net Fixed Assets / NetWorth)	0.38	0.31	0.60
Interest Coverage Ratio [PBIT / Financial Charges]	1.19	4.51	3.93

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin [(PAT / Sales) * 100]	(%)	0.05	1.78	1.61
Return on Total Assets [(PAT / Total Assets) * 100]	(%)	0.16	8.17	6.44
Return on Investment (ROI) [(PAT / NetWorth) * 100]	(%)	1.18	42.56	41.94

SOLVENCY RATIO

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio [Current Assets / Current Liabilities]	1.06	1.12	1.03
Quick Ratio [(Current Assets - Inventories) / Current Liabilities]	0.47	0.40	0.41
G-Score Ratio Financial [NetWorth / Total Assets]	0.14	0.19	0.15
G-Score Ratio Debt [Debts / Equity Capital]	51.55	27.69	14.42
G-Score Ratio Liquidity [Total Current Assets / Total Current Liabilities]	1.06	1.12	1.03

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	10.000	10.000	10.000
Reserves & Surplus	46.758	87.899	89.174
Net worth	56.758	97.899	99.174
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	144.195	276.857	515.511
Total borrowings	144.195	276.857	515.511
Debt/Equity ratio	2.541	2.828	5.198

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	1477.236	2341.650	2383.198
		58.516	1.774

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	1477.236	2341.650	2383.198
Profit/ (Loss)	23.807	41.667	1.172
	1.61 %	1.78 %	0.05 %

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	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
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

BRIEF DESCRIPTIOIN OF THE COMPANY’S WORKING THE YEAR/ STATE OF THE COMPANY’S AFFAIR

The company achieved 1.87% growth in gross revenue which increased from INR 2342.831 million in FY 2014-15 to INR 2386.562 million in financial year 2015-16 and profit after tax decreased to INR 1.172 million from INR 41.667 million.

INDEX OF CHARGES

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G49008345	100111564	KOTAK MAHINDRA PRIME LIMITED	20/07/2017	-	-	1000000000.0	27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India
2	G42751123	10628192	HDFC BANK LIMITED	30/01/2016	21/03/2017	-	353000000.0	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI-400013, Maharashtra, India
3	G01688878	100020528	HDFC BANK LIMITED	19/01/2016	-	-	3000000.0	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI-400013, Maharashtra, India
4	G03264165	10560144	STATE BANK OF INDIA	04/03/2013	18/05/2015	15/04/2016	300000000.0	SME BRANCH, DSIDC, ROHTAK ROAD, INDUSTRIAL COMPLEX, NANGLOI, NEW DELHI-110041, India
5	B93525749	10103743	HDFC BANK LIMITED	28/04/2008	-	13/12/2013	130000000.0	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI-400013, Maharashtra, India

FIXED ASSETS

• Land
• Building
• Furniture and Fixture
• Computer
• Plant and Machinery
• Vehicle
• Office Equipment
• Computer Accessories
• 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 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	INR
US Dollar	1	INR 63.38
UK Pound	1	INR 86.02
Euro	1	INR 76.50

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	DIV
Report Prepared by :	MTN

SCORE FACTORS

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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.