MIRA INFORM REPORT

Report Date :

16.12.2011

IDENTIFICATION DETAILS

Name :	KESARI TOURS PRIVATE LIMITED
Registered Office :	1, 2, 3, 4 and 4A, Kings Corner Co –operative Housing Society, Opposite Victoria Church, L J Road, Mahim, Mumbai – 400016, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.01.1995
Com. Reg. No.:	11-084356
Capital Investment / Paid-up Capital :	Rs.7.498 Millions
CIN No.: [Company Identification No.]	U63040MH1995PTC084356
TAN No.: [Tax Deduction & Collection Account No.]	MUMK05665C
PAN No.: [Permanent Account No.]	AAACK4229J
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Travels and Tours Services.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 1010000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

LOCATIONS

Registered/ Corporate Office :	1, 2, 3, 4 and 4A, Kings Corner CHS, Opposite Victoria Church, L J Road, Mahim, Mumbai – 400016, Maharashtra, India
Tel. No.:	91-22-24332222/ 24326060
Fax No.:	91-22-24322020
E-Mail :	roc@kesari.in smiles@kesari.in

DIRECTORS

As on 12.09.2011

Name :

Mr. Sudhir Patil

Designation :

Whole-time director

Address :

B – 5, Silver Queen, Plot No. 571, Agyari Lane, Mahim, Mumbai – 400016, Maharashtra, India

Date of Birth/Age :

24.12.1960

Date of Appointment :

20.01.2011

DIN No.:

00456900

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U63040MH1995PTC084356	Kesari Tours Private Limited	Whole-time director	20/01/2011	6/01/2007	-	Active	NO
U55101MH2007PTC169698	Daffodil Hospitality Services Private Limited	Director	5/04/2007	5/04/2007	-	Active	NO
U74300MH2008GOI183925	Kesari Ads Private Limited	Director	24/06/2008	24/06/2008	-	Active	NO
U92190MH2008PTC185701	Amaranth Cruise And Entertainment Private Limited	Director	11/08/2008	11/08/2008	-	Active	NO
U63000MH2009PTC191482	Kesari Vacations Private Limited	Director	31/03/2010	3/04/2009	-	Active	NO
U74140MH2010PTC201565	KT Manpower Solutions Private Limited	Director	1/04/2010	1/04/2010	-	Active	NO
U63090MH2007PTC172548	Kesari Forex Private Limited	Director	12/04/2010	12/04/2010	-	Active	NO
U72200MH2011PTC222502	Ralin Network Services Private Limited	Director	28/09/2011	28/09/2011	-	Active	NO

Name :

Ms. Veena Patil

Designation :

Managing director

Address :

B‐5, Silver Queen, Plot No.  571, Agyari  Lane, Mahim, Mumbai -  400016, Maharashtra, India

Date of Birth/Age :

26.09.1964

Date of Appointment :

05.01.1995

DIN No.:

00460578

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U63040MH1995PTC084356	Kesari Tours Private Limited	Managing director	1/01/2010	5/01/1995	-	Active	NO
U72900MH2000PTC127590	Gates Computing Private Limited	Director	5/07/2000	5/07/2000	16/08/2009	Dormant	NO
U63090MH2007PTC172548	Kesari Forex Private Limited	Director	20/07/2007	20/07/2007	-	Active	NO
U63090MH2007PTC173840	Ansh Radio Taxies Private Limited	Director	6/09/2007	6/09/2007	31/03/2010	Active	NO
U93000MH2007PTC173933	Kesari Productions Private Limited	Director	7/09/2007	7/09/2007	-	Active	NO
U70101MH2007PTC174786	SKP ESTATES PRIVATE LIMITED	Director	8/10/2007	8/10/2007	-	Active	NO
U45400MH2007PTC171699	San Trica Properties Private Limited	Director	14/09/2009	25/03/2009	-	Active	NO
U74300MH2008GOI183925	Kesari Ads Private Limited	Director	12/09/2011	21/04/2009	-	Active	NO
U72200MH2011PTC222502	Ralin Network Services Private Limited	Director	28/09/2011	28/09/2011	-	Active	NO
U55101MH2011PTC224867	Blue Cloud Hospitality Private Limited	Director	13/12/2011	13/12/2011	-	Active	NO

Name :

Mr. Himanshu Kesari Patil

Designation :

Whole-time director

Address :

A – 4, Silver Queen, Plot No. 571, Agyari Lane, Mahim, Mumbai – 400016, Maharashtra, India

Date of Birth/Age :

18.11.1970

Date of Appointment :

16.06.2011

DIN No.:

00800565

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U63040MH1995PTC084356	Kesari Tours Private Limited	Whole-time director	16/06/2011	4/12/2006	-	Active	NO
U45400MH2007PTC171699	San Trica Properties Private Limited	Director	14/09/2009	25/03/2009	-	Active	NO
U63000MH2009PTC191482	Kesari Vacations Private Limited	Director	1/10/2009	3/04/2009	-	Active	NO
U74900MH2009PTC195615	Ansh Synergies Private Limited	Director	9/09/2009	9/09/2009	4/05/2010	Active	NO
U74900MH2008PTC179922	Ansh Events Activations and Promotions Private Limited	Director	18/08/2010	15/02/2010	-	Active	NO
U63090MH2007PTC173840	Ansh Radio Taxies Private Limited	Director	31/03/2010	31/03/2010	-	Active	NO
U74140MH2010PTC201565	KT Manpower Solutions Private Limited	Director	1/04/2010	1/04/2010	-	Active	NO
U45203MH1997PTC112473	Kartik Housing Private Limited	Director	20/09/2010	5/04/2010	-	Active	NO
U45400MH2010PTC207287	Kesari Housing Private Limited	Director	30/08/2010	30/08/2010	-	Active	NO
U63090MH2007PTC172548	Kesari Forex Private Limited	Director	1/10/2010	1/10/2010	-	Active	NO
U55101MH2011PTC212924	Chav Hospitality Services Private Limited	Director	2/02/2011	2/02/2011	-	Active	NO
U55101MH2011PTC218165	Food Infusion Private Limited	Additional director	5/09/2011	5/09/2011	-	Active	NO

Name :

Mr. Shailesh Kesarinath Patil

Designation :

Whole-time director

Address :

A – 4, Silver Queen, Plot No. 571, Agyari Lane, Mahim, Mumbai – 400016, Maharashtra, India

Date of Birth/Age :

26.09.1966

Date of Appointment :

16.06.2011

DIN No.:

00960554

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U72900MH2000PTC127590	Gates Computing Private Limited	Director	5/07/2000	5/07/2000	-	Dormant	NO
U45400MH2007PTC169803	San Trica Realtors Private Limited	Director	9/04/2007	9/04/2007	7/05/2009	Active	YES
U45400MH2007PTC171699	San Trica Properties Private Limited	Director	15/06/2007	15/06/2007	-	Active	NO
U70102MH2008PTC180564	LBA42 Properties Private Limited	Director	28/03/2008	28/03/2008	-	Active	NO
U72900MH2008PTC180566	DGBM Systems Private Limited	Director	28/03/2008	28/03/2008	-	Active	NO
U55101MH2008PTC180567	Blue Island Resorts Private Limited	Director	28/03/2008	28/03/2008	-	Active	NO
U74900MH2010PTC206613	Sukho Thai India Private Limited	Director	14/08/2010	14/08/2010	-	Active	NO
U45202MH2011PTC214173	Kesari Infra India Private Limited	Director	1/03/2011	1/03/2011	-	Active	NO
U63040MH1995PTC084356	Kesari Tours Private Limited	Whole-time director	16/06/2011	16/06/2011	-	Active	NO

Name :

Ms. Sangita Shailesh Patil

Designation :

Director

Address :

A – 4, Silver Queen, Plot No. 571, Agyari Lane, Mahim, Mumbai – 400016, Maharashtra, India

Date of Birth/Age :

03.02.1965

Date of Appointment :

24.03.2003

DIN No.:

00960737

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U63040MH1995PTC084356	Kesari Tours Private Limited	Director	24/03/2003	24/03/2003	-	Active	NO
U63090MH2007PTC172548	Kesari Forex Private Limited	Director	20/07/2007	20/07/2007	-	Active	NO
U63090MH2007PTC173840	Ansh Radio Taxies Private Limited	Director	6/09/2007	6/09/2007	31/03/2010	Active	NO
U93000MH2007PTC173933	Kesari Productions Private Limietd	Director	7/09/2007	7/09/2007	-	Active	NO
U70101MH2007PTC174786	SKP Estates Private Limited	Director	8/10/2007	8/10/2007	-	Active	NO
U74900MH2008PTC179922	Ansh Events Activations and Promotions Private Limited	Director	10/03/2008	10/03/2008	11/10/2010	Active	NO
U74300MH2008GOI183925	Kesari Ads Private Limited	Director	12/09/2011	21/04/2009	-	Active	NO
U74900MH2010PTC206613	Sukho Thai India Private Limited	Director	14/08/2010	14/08/2010	-	Active	NO
U45202MH2011PTC214173	Kesari Infra India Private Limited	Director	1/03/2011	1/03/2011	-	Active	NO

Name :

Ms. Sunila Himanshu Patil

Designation :

Whole-time director

Address :

A – 4, Silver Queen, Plot No. 571, Agyari Lane, Mahim, Mumbai – 400016, Maharashtra, India

Date of Birth/Age :

11.09.1973

Date of Appointment :

06.01.2007

DIN No.:

00984197

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U63040MH1995PTC084356	Kesari Tours Private Limited	Whole-time director	6/01/2007	6/01/2007	-	Active	NO
U74300MH2008GOI183925	Kesari Ads Private Limited	Director	24/06/2008	24/06/2008	-	Active	NO
U45203MH1997PTC112473	Kartik Housing Private Limited	Director	20/09/2010	5/04/2010	-	Active	NO
U63090MH2007PTC173840	Ansh Radio Taxies Private Limited	Director	20/05/2010	20/05/2010	-	Active	NO
U45400MH2010PTC207287	Kesari Housing Private Limited	Director	30/08/2010	30/08/2010	-	Active	NO
U55101MH2011PTC224867	Blue Cloud Hospitality Private Limited	Director	13/12/2011	13/12/2011	-	Active	NO

Name :

Ms. Sunita Kesari Patil

Designation :

Whole-time director

Address :

A – 4, Silver Queen, Plot No. 571, Agyari Lane, Mahim, Mumbai – 400016, Maharashtra, India

Date of Birth/Age :

05.09.1945

Date of Appointment :

12.04.2010

DIN No.:

01897838

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U70101MH2007PTC174786	SKP Estates Private Limited	Director	31/03/2010	17/01/2008	-	Active	NO
U74900MH2008PTC179922	Ansh Events Activations and Promotions Private Limited	Director	10/03/2008	10/03/2008	-	Active	NO
U74300MH2008GOI183925	Kesari Ads Private Limited	Director	24/06/2008	24/06/2008	-	Active	NO
U63040MH1995PTC084356	Kesari Tours Private Limited	Whole-time director	12/04/2010	12/04/2010	-	Active	NO
U45202MH2011PTC214173	Kesari Infra India Private Limited	Director	1/03/2011	1/03/2011	-	Active	NO

Name :

Kesari Raoji Patil

Designation :

Whole-time director

Address :

B – 5, Silver Queen, Plot No. 571, Agyari Lane, Mahim, Mumbai – 400016, Maharashtra, India

Date of Birth/Age :

10.04.1935

Date of Appointment :

06.01.2007

DIN No.:

01897873

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U63040MH1995PTC084356	Kesari Tours Private Limited	Whole-time director	6/01/2007	6/01/2007	-	Active	NO
U74900MH2008PTC179922	Ansh Events Activations and Promotions Private Limited	Director	10/03/2008	10/03/2008	11/10/2010	Active	NO
U45400MH2007PTC171699	San Trica Properties Private Limited	Director	14/09/2009	25/03/2009	-	Active	NO

Name :

Zelam Amit Chaubal

Designation :

Director

Address :

806, Vasant Vaibhav, Off Lakaki Road, Model Colony, Pune – 411016, Maharashtra, India

Date of Birth/Age :

30.06.1968

Date of Appointment :

06.01.2007

DIN No.:

01998857

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U63040MH1995PTC084356	Kesari Tours Private Limited	Director	6/01/2007	6/01/2007	-	Active	NO
U45400MH2007PTC171699	San Trica Properties Private Limited	Director	14/09/2009	25/03/2009	-	Active	NO
U63000MH2009PTC191482	Kesari Vacations Private Limited	Director	3/04/2009	3/04/2009	-	Active	NO
U51909PN2004PTC019089	Junu Marketing Private Limited	Director	27/02/2010	27/02/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 12.09.2011

Names of Shareholders	No. of Shares
Kesar Ravaji Patil	37530
Veena Sudhir Patil	239927
Himanshu Kesari Patil	119968
Sunita Kesari Patil	29950
Shailesh Kesari Patil	239926
Zelam Amit Chaubal	82477
Sudhir Anant Patil	1
Sangita Patil	1
Amit Chaubal	1
Sunila Patil	1
Neil Patil	1
Raaj Patil	1
Rajasi Patil	1
Aditya Patil	1
Arya Patil	1
Aryan Chaubal	1
Arjun Chaubal	1
Sara Patil	1
Total	749790

Equity Share Break up (Percentage of Total Equity)

As on 12.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Travels and Tours Services.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Bank of India, Shivaji Park Branch, Mahim, Mumbai – 400016, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Debentures	0.000	0.000
Term Loans - Banks	28.493	44.689
Term Loans - Others	27.864	14.054
Loans taken for vehicles	1.964	1.051
Total	58.321	59.794
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Other Debts	21.363	28.787
Total	21.363	28.787

Banking Relations :	--
Auditors :
Name :	CVK and Associates Chartered Accountants
Address :	A – 103/104, Vardlaxmi, Gokhale Road, Mulund (East), Mumbai – 400081, Maharashtra, India
PAN.:	AAAFC3657K
Subsidiaries :	San Trica Properties Private Limited
Relatives of Key Management Personnel :	· Kesari Ads Private Limited · SKP Estates Private Limited · Gates Computing Private Limited · Kesari Forex Private Limited · Kesari Productions Private Limited (Formerly known as SKP Realters Private Limited) · Ansh Radio Taxies Private Limited (Formerly known as Kesari Systems Private Limited) · Daffodil Hospitality Services Private Limited · Ansh Events Activations and Promotions Private Limited (Formerly known as Kesari Clubs Private Limited) · Amaranth Cruises and Entertainment Private Limited · Kesari Trust · Babylon Enterprises · DGBM Systems Private Limited
	·
Enterprise over which Key Management personnel and their relatives having significant influence :	· Kesari Art and Culture Foundation · Kesari Vacations Private Limited · Ansh Synergies Private Limited · K Universal Inc – Mauritius · K Universal UK Private Limited · LBA 42 Properties Private Limited · Blue Island Resorts Private Limited · Sukho Thai India Private Limited · Kesari Infra India Private Limited · CHAV Hospitality Services Private Limited · Kesari Housing Private Limited · Kartik Housing Private Limited · KT Manpower Solutions Private Limited (formerly known as KVISA Consultants Private Limited)

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
749790	Equity Shares	Rs.10/- each	Rs.7.498 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		7.498	7.498	7.498
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		245.870	226.880	152.818
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		253.368	234.378	160.316
LOAN FUNDS
1] Secured Loans		58.321	59.794	99.941
2] Unsecured Loans		21.363	28.787	31.957
TOTAL BORROWING		79.684	88.581	131.898
DEFERRED TAX LIABILITIES		25.943	21.564	18.825
TOTAL		358.995	344.523	311.039
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		318.517	313.728	313.407
Capital work-in-progress		106.870	0.362	0.000
INVESTMENT		6.126	1.126	12.395
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	13.408	1.440	1.607
	Sundry Debtors	38.249	38.997	33.526
	Cash & Bank Balances	564.150	675.471	348.739
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	542.494	444.178	288.194
Total Current Assets		1158.301	1160.086	672.066
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1122.760	1009.956	593.469
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	108.059	120.823	93.360
Total Current Liabilities		1230.819	1130.779	686.829
Net Current Assets		(72.518)	29.307	(14.763)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		358.995	344.523	311.039

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	5208.196	3505.754	3670.104
		Other Income	30.533	21.176	21.331
		TOTAL (A)	5238.729	3526.930	3691.435
Less	EXPENSES
		Operating Expenses	5143.767	3366.255	3338.498
		Personnel Expenses			93.747
		Administrative and Other Expenses			155.773
		Provision for Social Corporate Responsibility			2.374
		TOTAL (B)	5143.767	3366.255	3590.392
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		94.962	160.675	101.043
Less	FINANCIAL EXPENSES (D)		7.847	11.575	11.225
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		87.115	149.100	89.818
Less/ Add	DEPRECIATION/ AMORTISATION (F)		17.803	16.363	13.069
	PROFIT BEFORE TAX (E-F) (G)		69.312	132.737	76.749
Less	TAX (I)		23.374	49.673	29.253
	PROFIT AFTER TAX (G-I) (J)		45.938	83.064	47.496
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		195.785	130.003	96.792
	TAXATION ADJUSTMENT OF PREVIOUS YEARS		(9.462)	(0.259)	(0.847)
Less	APPROPRIATIONS
		Interim Equity Dividend Paid	3.749	5.623	0.000
		Dividend Distribution Tax	0.623	0.934	1.274
		Proposed Final Dividend	11.247	1.874	7.499
		Tax on Dividend	1.868	0.311	0.000
		Transfer to General Reserves	3.647	8.281	4.665
	BALANCE CARRIED TO THE B/S		211.127	195.785	130.003
	EARNINGS IN FOREIGN CURRENCY
		International Tour Receipts	1416.904	1022.012	NA
		Other Income	0.187	0.196	NA
		Marketing Support received	4.469	0.562	NA
		Cancellation Charges	0.215	0.767	NA
	TOTAL EARNINGS		1421.775	1023.537	NA
	Earnings Per Share (Rs.)		61.27	110.78	63.35

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.88	2.36	1.29
Net Profit Margin (PBT/Sales)	(%)	1.33	3.78	2.09
Return on Total Assets (PBT/Total Assets}	(%)	0.04	9.00	7.79
Return on Investment (ROI) (PBT/Networth)		0.27	0.56	0.47
Debt Equity Ratio (Total Liability/Networth)		5.17	5.20	5.10
Current Ratio (Current Asset/Current Liability)		0.94	1.02	0.97

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS

The Company recorded turnover of Rs.5208.196 Millions and profit after tax being Rs.45.938 Millions for the financial year ended 31st March, 2011. The basic earning per share of the Company is Rs.61.27

AWARDS

· Asia's Best Brand in Travel Segment Award

Received from the hands of Mr. Donovan Neale May, Executive Director - CMO Council.

· Friends of Thailand Award

Awarded as Best Tour Operator by Tourism Authority of Thailand

· Sentosa Star Preferred Partner Award 2010- 2011

Received from the hands of Mr. Mike Barclays - CEO, Sentosa Leisure.

· 45th Anniversary Genting Award

Awarded as Best Supporting India Outbound Travel Agent Award by Resort World, Genting

· Travel and Tourism Summit Awards 2010

Awarded as Best Outbound Tour Operator of the Year

· Outstanding Performance in 2010

Awarded by Cathay Pacific

FORM 8

Corporate identity number of the company	U63040MH1995PTC084356
Name of the company	KESARI TOURS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1, 2, 3, 4 and 4A, Kings Corner Co-Operaive Housing Society, Opposite Victoria Church, L J Road, Mahim, Mumbai – 400016, Maharashtra, India Email Id : roc@kesari.in
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	Bank Of India, G - 5, Akruti SMC, L B S Marg, Khopat Junction, Thane (West) – 400602, Maharashtra, India Email Id : ThaneMCB.RaigadThane@bankofindia.co.in
Nature of instrument creating charge	Equitable Mortgage
Date of instrument Creating the charge	18.06.2011
Amount secured by the charge	Rs.135.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 2.25% above base rate (INCL tenor premium of 0.75%) presently 11.75% p a Terms of repayment 102 EMIS of Rs.2.098 Millions commencing from 18 months after the date of first dirbursement or 1 month after the date of completion of the construction and possession which ever is earlier Margin 29.57% Extent and operation of the charge Equitable mortgage by deposit of the title deeds of immovable property situated at Residential Flat No 1102, 11th Floor,'Signia Isles' at G Block, CTS No 4207, Bandra Kurla Complex, Bandra (East) Mumbai , Plot No R-1/4 Village Kole Kalyan, Taluka - Andheri, District Mumbai Admeasuring 278.71 Sq. Mts or 3006.06 sq ft carpet area with 4 car parking spaces
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Equitable mortgage by deposit of the title deeds of immovable property situated at Residential Flat No 1102, 11th Floor, 'Signia Isles' at G Block, CTS No 4207, Bandra Kurla Complex, Bandra (East) Mumbai

Contingent Liabilities (As on 31.03.2011)

· Claims against the Company not acknowledged as debts – Rs.4.215 Millions

· Bank Guarantees for which the Company has given counter guarantee – Rs.1.519 Millions

· Corporate Bank Guarantee Given – Rs.7.500 Millions

· Estimated amount of Contracts remaining to be executed on Capital Account not provided for (net of advances) – Rs.172.909 Millions

FIXED ASSETS

· Land

· Building

· Office Building

· Equipments

· Furniture and Fixtures

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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.54.24
UK Pound	1	Rs.83.77
Euro	1	Rs.70.46

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	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		49

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.