MIRA INFORM REPORT

Report Date :

05.11.2007

IDENTIFICATION DETAILS

Name :	AUTORAMA PRIVATE LIMITED
Registered Office :	99, Old Prabhadevi Road, Mumbai 400025, Maharashtra
Country :	India
Financials (as on) :	31.03.2003
Date of Incorporation :	23.11.1968
Com. Reg. No.:	014140
CIN No.: [Company Identification No.]	U51220MH1968PTC014140
TAN No.: [Tax Deduction & Collection Account No.]	MUMA25702F
PAN No.: [Permanent Account No.]	AADCA1856G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Trivision Displays, Fibre Optic Signs, Moisture Analysers, Surgical Lasers, Ten-Pin Bowling Alleys, Karaoke.

RATING & COMMENTS

MIRA’s Rating :

Undetermined

RATING	STATUS	PROPOSED CREDIT LINE
NR	In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

Maximum Credit Limit :	USD 464
Comments :	In absence of business and financial details, it would be difficult to access Company’s performance and financial status. Hence, no rating has been given.

LOCATIONS

Registered Office :	99, Old Prabhadevi Road, Mumbai 400025, Maharashtra, India
Tel. No.:	91-22-24306494 / 24309536 / 24361647
Fax No.:	91-22-24378682
E-Mail :	info@autoramaa.com
Website :	www.autoramaa.com

DIRECTORS

Name :	Mr. Rajendra Lunkad
Designation :	Director
Address :	71, Ganga Vihar, R. A. Kidwai Road, Mumbai 400019, Maharashtra, India
Date of Birth/Age :	13.09.1944
Date of Appointment :	03.11.1968
Name :	Ms. Kavita Lunkad
Designation :	Director
Address :	71, Ganga Vihar, R. A. Kidwai Road, Mumbai 400019, Maharashtra, India
Date of Birth/Age :	02.07.1949
Date of Appointment :	01.07.1987
Name :	Mr. Rajiv Lunkad
Designation :	Director
Address :	71, Ganga Vihar, R. A. Kidwai Road, Mumbai 400019, Maharashtra, India
Date of Birth/Age :	19.12.1971
Date of Appointment :	01.04.1993
Name :	Mr. Gautam Lunkad
Designation :	Director
Address :	71, Ganga Vihar, R. A. Kidwai Road, Mumbai 400019, Maharashtra, India
Date of Birth/Age :	23.11.1973
Date of Appointment :	01.04.1993

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Rajendra Lunkad	920
Kavita Lunkad	680
Rajiv Lunkad	704
Gautam Lunkad	896

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Trivision Displays, Fibre Optic Signs, Moisture Analysers, Surgical Lasers, Ten-Pin Bowling Alleys, Karaoke.
Products :	Signages Tri – Vision LED Screen LED Sign Slim Light Box Tri-vision Fibre Optic Lighting Mirror Chandelier Star Ceiling Cove Lighting High Power LED LED Fixture Spot Light Step Lighting Wall Washer
Exports :
Countries :	Middle East Sri Lanka Bangladesh

GENERAL INFORMATION

No. of Employees :	5
Bankers :	Not Available

Banking Relations :

--

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs. 100/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3200	Equity Shares	Rs. 100/- each	Rs. 0.320 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

FINANCIALS

No financials are available after 2003 either from Government or from Management.

Management remained non-cooperative during current investigation.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2003
SHAREHOLDERS FUNDS
1] Share Capital		0.320
2] Share Application Money		0.000
3] Reserves & Surplus		0.051
4] (Accumulated Losses)		[0.255]
NETWORTH		0.116
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.453
TOTAL BORROWING		0.453
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.569
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.260
Capital work-in-progress
INVESTMENT		0.000
DEFERREX TAX ASSETS
CURRENT ASSETS, LOANS & ADVANCES
	Inventories
	Sundry Debtors
	Cash & Bank Balances
	Other Current Assets
	Loans & Advances
Total Current Assets
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities
	Provisions
Total Current Liabilities
Net Current Assets		0.309
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.569

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2003
Sales Turnover	1.239
Total Income	1.239
Profit/(Loss) Before Tax	[0.062]
Provision for Taxation	--
Profit/(Loss) After Tax	[0.062]
Total Expenditure	1.301

KEY RATIOS

PARTICULARS		31.03.2003
PAT / Total Income	(%)	5.00
Net Profit Margin (PBT/Sales)	(%)	5.00
Return on Investment (ROI) (PBT/Networth)		0.53

LOCAL AGENCY FURTHER INFORMATION

AS PER WEBSITE DETAILS:

Subject is a leading and cost effective manufacturer/supplier of motion signs & customized fiber optic and LED Lighting solutions.

They offer a comprehensive range of energy efficient LED, lighting solutions for Signage, Architectural Lighting, Landscapes, Pools and Water Features - and for specialised applications such as Solar, Step Lighting, Safety and Emergency Lighting. The Company has gained a solid reputation as a major Supplier/installer of LED Lighting solutions in India. The Company also offers a range of Fibre Optic Lighting for specific applications such as Star Ceilings and customized requirements.

Subject offers technologically superior lighting for virtually any application, and is committed to providing only the best and most advanced solutions to its customers.

With a background in the design, manufacture and installation of large scale architectural lighting and commercial signage - subject offers its Clients extensive knowledge and experience in the practical application of LED and Fiber Optic lighting solutions.

In particular - Autoramaa has access to an extensive and growing range of LEDs and LED products, in any configuration, and for virtually any application  and recognises the growing importance of LEDs (Solid State Lighting) as THE superior light form for the future.

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 records 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	Indian Rupees
US Dollar	1	Rs.39.37
UK Pound	1	Rs.81.82
Euro	1	Rs.56.83

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10
PAID-UP CAPITAL	1~10
OPERATING SCALE	1~10
FINANCIAL CONDITION
--BUSINESS SCALE	1~10
--PROFITABILIRY	1~10
--LIQUIDITY	1~10
--LEVERAGE	1~10
--RESERVES	1~10
--CREDIT LINES	1~10
--MARGINS	-5~5
DEMERIT POINTS
--BANK CHARGES	YES/NO
--LITIGATION	YES/NO
--OTHER ADVERSE INFORMATION	YES/NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO
--EXPORT ACTIVITIES	YES/NO
--AFFILIATION	YES/NO
--LISTED	YES/NO
--OTHER MERIT FACTORS	YES/NO
TOTAL

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	Unfavourable & favourable factors carry similar weight in credit consideration. 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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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