MIRA INFORM REPORT

Report No. :	506418
Report Date :	03.05.2018

IDENTIFICATION DETAILS

Name :	7 SIGMA EXPERIENCES PRIVATE LIMITED
Registered Office :	603/A1, Golders Green, Building No.2, CHSL A-Wing, Flat No.603, Holy Cross Road Extension, I.C. Colony, Borivali (West), Mumbai – 400103, Maharashtra
Tel. No.:	91-22-66973243
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	11.05.2012
Com. Reg. No.:	11-230887
Capital Investment / Paid-up Capital :	INR 0.100 Million
CIN No.: [Company Identification No.]	U92412MH2012PTC230887
IEC No.: [Import-Export Code No.]	Not Applicable (As informed by the management that firm does not have export and import)
GSTN : [Goods & Service Tax Registration No.]	27AAACZ5783G1ZX
Service Tax No.:	AAACZ5783GSD001
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACZ5783G
Legal Form :	Private Limited Liability Company
Line of Business :	Performing arts event promotion and organization services like experiential media, corporate luxury of special events, event planning brand promotions. [Registered activity and also confirmed by management]
No. of Employees :	13 (Approximately)

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 4700
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2012. It is engaged in providing event management services. For the financial year 2017, the company has reported dip in its revenue by 40.31% as compared to the previous year along with operational loss. The moderate financial profile of the company is marked by average net worth base. Rating takes into consideration the subject’s negligible debt balance sheet profile due to unsecured debt recorded in the books. Subject’s customers (Kellogg India Private Limited and The Gem and Jewellery Export Promotion Council) provided positive feedback about the subject and claimed that they are satisfied with subject’s services. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution. NOTE: Site visit was conducted at the address 5/B, Abdulla Manzil, near Andheri Sports complex, Andheri west, Mumbai -400058. At the premises, our executive met Mr. Moreshwar Kubal (Finance Manager). As per our executive’s observation, it is a 4 storey building and subject is situated on 2nd floor. Area of the premises seems to be 2000 sq. ft. and number of employees sighted at the premises were 13. Locality seems to be commercial and area appears to be upmarket. Location was easy to find and we have sighted subject’s name board.

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 (30.09.2017)	Current Rating (31.12.2017)
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

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 31-03-2018.

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 03.05.2018

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 PARTED BY

Name :	Mr. Arif Shaikh
Designation :	Director
Contact No.:	91-9892464589
Date :	30.04.2018

LOCATIONS

Registered Office :	603/A1, Golders Green, Building No.2, CHSL A-Wing, Flat No.603, Holy Cross Road Extension, I.C. Colony, Borivali (West), Mumbai – 400103, Maharashtra, India
Tel. No.:	91-22-66973243
Mobile No.:	91-9892464589 (Mr. Arif Shaikh) 91-7400056750 (Mr. Ashish Sharma) 91-7400056752 (Mr. Moreshwar Kubal)
Fax No.:	Not Available
E-Mail :	arif@7sigmaexperiences.com
Website :	http://www.7sigmaexperiences.com
Area :	1000 Sq. ft.
Location :	Owned
Locality :	Residential
Communication Office :	5/B, 2nd Floor, Abdulla Manzil, J. P. Road, Near Andheri Sports Complex, Andheri (West), Mumbai – 400058, Maharashtra, India
Tel. No.:	91-22-26741962
Location :	Rented
Locality :	Commercial

DIRECTORS

AS ON 31.03.2018

Name :

Mr. Arif Mushtaque Shaikh

Designation :

Director

Address :

Golders Green, Building No.2, CHSL A-Wing, Flat No.603, Holy Cross Road Extension, I.C. Colony, Borivali (West), Mumbai – 400103, Maharashtra, India

Date of Birth/Age :

11.01.1976

Date of Appointment :

11.05.2012

DIN No.:

03287556

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U92190MH2010PTC210825	WHITE NEW-AGE COMMUNICATION SOLUTIONS PRIVATE LIMITED	08/12/2010	-
U92412MH2014PTC259280	AARETE EVENTS & ENTERTAINMENT PRIVATE LIMITED	13/11/2014	-

Name :

Mr. Mushtaq Makbul Shaikh

Designation :

Director

Address :

F-49, Vir Jijamata Nagar, Dr. E. Moses Road, Near Nehru Science Centre, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/Age :

05.10.1945

Date of Appointment :

11.05.2012

DIN No.:

05263683

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U92412MH2014PTC259280	AARETE EVENTS & ENTERTAINMENT PRIVATE LIMITED	13/11/2014	-

Name :

Mrs. Fauziya Shaikh

Designation :

Director

Address :

Flat No.603/A-2, Golders Green Holy Cross Road, Borivali (West), Mumbai – 400103, Maharashtra, India

Date of Appointment :

30.09.2016

DIN No.:

07511650

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U92412MH2014PTC259280	AARETE EVENTS & ENTERTAINMENT PRIVATE LIMITED	30/09/2016	-

KEY EXECUTIVES

Name :	Mr. Ashish Sharma
Designation :	Senior Manager – Operations
Name :	Mr. Moreshwar Kubal
Designation :	Finance Manager

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
Arif Mushtaque Shaikh	9000
Mushtaq Makbul Shaikh	1000
Total	10000

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2017

Category	Percentage
Promoters [Individual/Hindu Undivided Family (Indian)]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Performing arts event promotion and organization services like experiential media, corporate luxury of special events, event planning brand promotions. [Registered activity and also confirmed by management]

Products / Services :

Name and Description of main products / services	ITC Code
Performing arts event promotion and organization services	99962100

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Applicable

Imports :

Not Applicable

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 :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark :	--

Customers :

Others

Reference :

Kellogg’s India Private Limited

Name of the Person :

Mrs. Nadiya Merchant (Senior Manager)

Contact No.:

91-22-42985000

91-8879662648

Since How Long Known :

6 years

Maximum Limit Dealt :

--

Experience :

Services	Overall
Good	Good

Remark :

They gave us positive response about subject company. They are happy with their services.

Reference :

The Gem and Jewellery Export Promotion Council

Name of the Person :

Mr. Nimish Gawade (Senior Executive Logistic and Operation)

Contact No.:

91-22-45541800

91-9920022618

Since How Long Known :

3 years

Maximum Limit Dealt :

--

Experience :

Services	Overall
Good	Good

Remark :

They gave us positive response about subject company. They are happy with their services.

Reference :	NIVEA India Private Limited
Name of the Person :	Mr. Sanghamitra
Contact No.:	91-22-66459900
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark :	Management Non-cooperative

Reference :	Cipla Limited
Name of the Person :	Mr. Mayur Kulkarni
Contact No.:	91-22-25761900
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark :	Management Non-cooperative

No. of Employees :

13 (Approximately)

Bankers :

Banker Name :	Kotak Mahindra Bank Limited
Branch :	A- Dev Prestige, Veera Desai Road, Andheri (West), Mumbai – 400058, Maharashtra, India
Person Name (With Designation) :	Mr. Dhaval (Relationship Manager)
Contact Number :	91-8879639386
Name of Account Holder :	7 Sigma Experiences Private Limited
Type of Account :	Current Account
Branch Code :	001351
Account Number :	1811551927
IFSC Code / IBAN No.:	KKBK0001351
MICR Code :	400485064
Account Since (Date/Year of Account Opening) :	3.5 years
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Available
Account Operation :	Satisfactory
Remark :	Banker gave us positive feedback about the subject company. They are satisfied with their banking transaction.

Auditors :
Name :	Yogesh S. Thakkar and Associates Chartered Accountants
Address :	A/101, Madhukunj CHS Limited (Samved), Rajendra Nagar, Dattapada Road, Borivali (East), Mumbai – 400066, Maharashtra, India
Tel. No.:	91-22-28702840
Mobile No.:	91-9967571030
E-Mail :	yogeshthakkar.it@gmail.com
PAN No.:	AAAPT5499E
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 29.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	INR 10/- each	INR 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	INR 10/- each	INR 0.100 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	1.547	2.426	2.071
(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)	1.647	2.526	2.171
(3) Non-Current Liabilities
(a) Long-term borrowings	0.079	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.047	0.031
(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)	0.079	0.047	0.031
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	2.548	2.455	3.271
(d) Short-term provisions	0.000	0.152	0.680
Total Current Liabilities (4)	2.548	2.607	3.951
TOTAL	4.274	5.180	6.153
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.276	0.372	0.265
(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)	0.357	0.000	0.000
(d) Long-term Loan and Advances	0.151	0.151	0.150
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.784	0.523	0.415
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	1.475	1.744	0.388
(d) Cash and cash equivalents	0.622	1.967	2.107
(e) Short-term loans and advances	1.393	0.937	3.243
(f) Other current assets	0.000	0.009	0.000
Total Current Assets	3.490	4.657	5.738
TOTAL	4.274	5.180	6.153

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Income	5.938	9.948	17.921
		Other Income	0.018	0.442	0.032
		TOTAL	5.956	10.390	17.953
Less	EXPENSES
		Event Management Expenses	4.756	6.680	11.141
		Employee Benefits Expenses	1.494	2.107	3.427
		Other Expenses	0.852	0.880	1.997
		TOTAL	7.102	9.667	16.565
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(1.146)	0.723	1.388
Less	FINANCIAL EXPENSES		0.026	0.071	0.006
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(1.172)	0.652	1.382
Less	DEPRECIATION/ AMORTISATION		0.112	0.144	0.112
	PROFIT/(LOSS) BEFORE TAX		(1.284)	0.508	1.270
Less	TAX		(0.405)	0.154	0.429
	PROFIT/(LOSS) AFTER TAX		(0.879)	0.354	0.841
	Earnings / (Loss) Per Share (INR)		(87.90)	35.44	84.16

ADVERTISING PROMOTIONAL EXPENSES

Years	INR in Million
2016-2017	NA
2015-2016	NA
2014-2015	NA

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
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

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	90.67	63.99	7.90
Account Receivables Turnover (Income / Sundry Debtors)	4.03	5.70	46.19
Inventory Turnover (Operating Income / Inventories)	0.00	0.00	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	(4.15)	1.94	5.24

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.61	0.50	0.64
Debt Equity Ratio (Total Liability / Networth)	0.05	0.00	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.55	1.03	1.82
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.17	0.15	0.12
Interest Coverage Ratio (PBIT / Financial Charges)	(44.08)	10.18	231.33

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
PAT to Sales ((PAT / Sales) * 100)	%	(14.80)	3.56	4.69
Return on Total Assets ((PAT / Total Assets) * 100)	%	(20.57)	6.83	13.67
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(53.37)	14.01	38.74

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.37	1.79	1.45
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.37	1.79	1.45
G-Score Ratio Financial (Networth / Total Assets)	0.39	0.49	0.35
G-Score Ratio Debt (Debts / Equity Capital)	0.79	0.00	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.37	1.79	1.45

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	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	0.100	0.100	0.100
Reserves & Surplus	2.071	2.426	1.547
Net worth	2.171	2.526	1.647
Long Term borrowings	0.000	0.000	0.079
Short Term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.079
Debt/Equity ratio	0.000	0.000	0.048

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	17.921	9.948	5.938
		(44.490)	(40.310)

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	17.921	9.948	5.938
Profit/(Loss)	0.841	0.354	(0.879)
	4.69%	3.56%	(14.80%)

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	Yes
5	Buyer visit details	Yes
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	No
18	Major suppliers	No
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY

UNSECURED LOANS:

PARTICULARS	31.03.2017 INR In Million	31.03.2016 INR In Million
LONG TERM BORROWINGS
Directors and relatives	0.079	0.000
Total	0.079	0.000

FIXED ASSETS:

· Air Conditioner

· Mobile

· Computers

· Office Equipments

OBSERVATION POINTS

Name of Company :	7 SIGMA EXPERIENCES PRIVATE LIMITED
Address :	5/B, 2nd Floor, Abdulla Manzil, J. P. Road, Near Andheri Sports Complex, Andheri (West), Mumbai – 400058, Maharashtra, India
Person to whom we met:	Mr. Moreshwar Kubal Designation : Finance Manager
E-mail :	arif@7sigmaexperiences.com
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	Next to Andheri Sports Complex
Total Floors of the building:	4 Floor
Subject situated on:	2^nd Floor
Locality:	Commercial
Area of premises :	2000 sq. ft.
Area :	Upmarket
No. of employees seen at premises:	13
Visibility of Items :	· Fax Machine · Telex
Proof of visit:	Photograph

PICTURES

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 66.78
UK Pound	1	INR 92.89
Euro	1	INR 80.74

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	PRY
Report Prepared by :	NKT

SCORE FACTORS

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	NO
--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.