MIRA INFORM REPORT

Report Date :

23.04.2011

IDENTIFICATION DETAILS

Name :	ASTER MARKETING PRIVATE LIMITED
Registered Office :	2^nd Zindagi Building, 1^st Road, Khar West, Mumbai – 400052, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	06.10.1997
Com. Reg. No.:	11-111071
CIN No.: [Company Identification No.]	U51900MH1997PTC111071
TAN No.: [Tax Deduction & Collection Account No.]	MUMA16711C
PAN No.: [Permanent Account No.]	AABCA8708K
Legal Form :	Private Limited Liability Company
Line of Business :	Distributors of Consumer products and automobile accessories.

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 120000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having fine track. Financial position of the company is good. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Noel
Designation :	Accounts Manager
Contact No.:	91-22-26604884
Date :	22.04.2011

LOCATIONS

Registered Office :	2^nd Zindagi Building, 1^st Road, Khar West, Mumbai – 400052, Maharashtra, India
Tel. No.:	91-22-2605447
Fax No.:	91-22-26463934
E-Mail :	aster@bom5.vsnl.net.in
Area :	1000 sq. ft. (Approximately)
Location :	Owned
Administrative Office :	24, Dheeraj Heritage, 2^nd Floor, S. V. Road, Santacruz (West), Mumbai – 400054, Maharashtra, India
Tel. No.:	91-22-26604884

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Bhimsen Batra
Designation :	Director
Address :	601-A, Amrit Building, 15 Carter Road, Khar (West), Mumbai – 400052, Maharashtra, India
Date of Birth/Age :	27.12.1962
Date of Appointment :	06.10.1997
Name :	Mr. Krishna Batra
Designation :	Director
Address :	601-A, Amrit Building, 15 Carter Road, Khar (West), Mumbai, Maharashtra, India
Date of Birth/Age :	15.11.1938
Date of Appointment :	06.10.1997
Name :	Mr. Prabhudayal Batra
Designation :	Director
Address :	601-A, Amrit Building, 15 Carter Road, Khar (West), Mumbai – 400052, Maharashtra, India
Date of Birth/Age :	15.11.1938
Date of Appointment :	21.03.1999

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Bhimsen Batra	1100
Krishna Batra	1100
Prabhudayal Batra	1100
Total	3300

AS ON 30.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Distributors of Consumer products and automobile accessories.
Terms :
Selling :	Cash, Credit (30 days, 60 days, 90 days)
Purchasing :	Cash, Credit (30 days, 60 days, 90 days)

GENERAL INFORMATION

Customers :

· End Users

· OEM’s

No. of Employees :

10 (Approximately)

Bankers :

Indian Overseas Bank, Bandra Branch, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
From Indian Overseas Bank, Baroda (Secured by hypothecation of book debts)	0.000	6.890
Total	0.000	6.890
Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
From Directors and Share Holders	9.291	9.139
Total	9.291	9.139

Banking Relations :	--
Auditors :
Name :	N.H. Karnesh and Associates Chartered Accountant
Address :	A-2, Jaykiran Co-Operative, Housing Society Limited, Liberty Garden Road, Malad (west), Mumbai – 400064, Maharashtra, India

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3300	Equity Shares	Rs.100/- each	Rs.0.330 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.330	0.330	0.330
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		30.099	22.858	18.237
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		30.429	23.188	18.567
LOAN FUNDS
1] Secured Loans		0.000	6.890	0.071
2] Unsecured Loans		9.291	9.139	5.401
TOTAL BORROWING		9.291	16.029	5.472
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		39.720	39.217	24.039
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.108	2.496	1.457
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.257	0.224	0.206
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	13.261	26.037	15.159
	Sundry Debtors	11.479	5.673	7.171
	Cash & Bank Balances	16.934	7.395	7.764
	Other Current Assets	1.568	0.821	0.418
	Loans & Advances	0.676	1.154	0.722
Total Current Assets		43.918	41.080	31.234
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.398	4.583	8.858
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.165	0.000	0.000
Total Current Liabilities		6.563	4.583	8.858
Net Current Assets		37.355	36.497	22.376
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		39.720	39.217	24.039

KEY RATIOS

PARTICULARS	31.03.2010	31.03.2009	31.03.2008
Debt Equity Ratio (Total Liability/Networth)	0.52	0.88	0.77
Current Ratio (Current Asset/Current Liability)	6.69	8.96	3.52

LOCAL AGENCY FURTHER INFORMATION

Sundry Creditors Details :

(Rs. In Millions)

Particulars	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors	6.398	4.583	8.858

Fixed Assets :

· Computers

· Goodwill Loft

· Furniture and Fixtures

· Electrical Equipments

· Off – Equipments

· Dies and Moulds

· Delivery Van

· Motor Car

· Telephone Instruments

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. 44.30
UK Pound	1	Rs. 72.92
Euro	1	Rs. 64.69

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		50

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.