MIRA INFORM REPORT

Report Date :

20.12.2011

IDENTIFICATION DETAILS

Name :	RADHA KISHAN LIFE STYLE MERCHANDISE PRIVATE LIMITED [w.e.f. 12.01.2010]
Formerly Known As :	RADHA KISHAN GARMENTS PRIVATE LIMITED
Registered Office :	20, Shivalik Sector-61, Noida-201301, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	27.12.2006
Com. Reg. No.:	20-032672
Capital Investment / Paid-up Capital :	Euro 1400
CIN No.: [Company Identification No.]	U74994UP2006PTC032672
IEC No.:	0510041531
TIN No.:	09465708707
PAN No.: [Permanent Account No.]	AADCR7547M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Trader of Garments, Fashion Designer Garment Show Room.
No. of Employees :	50 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ca (15)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a company having moderate track. There appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are unknown. The company can be considered for business dealings on a secured 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

INFORMATION PARTED BY

Name :	Anubhuti Jain
Designation :	Manager
Contact No.:	91-9810123870
Date :	19.12.2011

LOCATIONS

Registered Office :	20, Shivalik Sector-61, Noida-201301, Uttar Pradesh
Tel. No.:	Not Available
Mobile No.:	91-9810123870 [Mr. Anubhuti Jain]
Fax No.:	Not Available
E-Mail :	shilpi.gupta169@gmail.com rajeevkgupta29@gmail.com
Website :	http://www.royalrajwara.com
Finishing Centre:	1^st Floor, Sector-6, Noida-201303, Uttar Pradesh, India
Location :	Leased
Branch Office :	C-24, Sector-50, Noida-201301, Uttar Pradesh, India
Show Room:	Fascina Galleria 229, 2^nd Floor, Great India Place, Sector-38A, Noida-201301, Uttar Pradesh, India

DIRECTORS

AS ON 30.09.2010

Name :

Mrs. Shilpi Gupta

Designation :

Director

Address :

G-39, Sector-39, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

16.09.1976

Date of Appointment :

27.12.2006

Din No.:

01884594

Other Directorship:

S. No.	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
1	U51909DL2003PTC122324	HONEY MERCHANDISER PRIVATE LIMITED	Director	19-09-03	19-09-03	-	Active	YES
2	U72900DL2003PTC122325	CHIRAG E-SOLUTION PRIVATE LIMITED	Director	19-09-03	19-09-03	-	Active	YES
3	U45201DL2003PTC122326	CHIRAG INFRASTRUCTURE PRIVATE LIMITED	Director	19-09-03	19-09-03	31-03-08	Active	YES
4	U74994DL2005PTC132071	IMS ACADEMY OF FASHION AND JEWELLERY DESIGN PRIVATE LIMITED	Director	13-01-05	13-01-05	-	Active	NO
5	U74994UP2006PTC032672	RADHA KISHAN LIFE STYLE MERCHANDISE PRIVATE LIMITED	Director	27-12-06	27-12-06	-	Active	NO
6	U17121UP2006PTC032670	WHITE FEATHER FASHION PRIVATE LIMITED	Director	27-12-06	27-12-06	-	Active	YES

Name :

Mr. Rajeev Kumar Gupta

Designation :

Director

Address :

G-39, Sector-39, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

29.01.1974

Date of Appointment :

27.12.2006

Din No.:

01884615

Other Directorship:

S. No.	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
1	U51909DL2003PTC122324	HONEY MERCHANDISER PRIVATE LIMITED	Director	19-09-03	19-09-03	-	Active	YES
2	U72900DL2003PTC122325	CHIRAG E-SOLUTION PRIVATE LIMITED	Director	19-09-03	19-09-03	-	Active	YES
3	U45201DL2003PTC122326	CHIRAG INFRASTRUCTURE PRIVATE LIMITED	Director	19-09-03	19-09-03	31-03-09	Active	YES
4	U74994DL2005PTC132071	IMS ACADEMY OF FASHION AND JEWELLERY DESIGN PRIVATE LIMITED	Director	13-01-05	13-01-05	-	Active	NO
5	U74994UP2006PTC032672	RADHA KISHAN LIFE STYLE MERCHANDISE PRIVATE LIMITED	Director	27-12-06	27-12-06	-	Active	NO
6	U17121UP2006PTC032670	WHITE FEATHER FASHION PRIVATE LIMITED	Director	27-12-06	27-12-06	-	Active	YES
7	U74120UP2006PTC032671	WHITE PEARL EXIM PRIVATE LIMITED	Director	27-12-06	27-12-06	-	Active	YES

KEY EXECUTIVES

Name :	Anubhuti Jain
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Rajeev Kumar Gupta	9500
Shilpi Gupta	500
Total	10000

AS ON 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Trader of Garments, Fashion Designer Garment Show Room.
Exports :
Countries :	· Dubai · France
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Aggarwal Electric Home

· Delhi Generators Repairing Works

· Excelsior Public Relations

· Global Marketing

· Jan Fab

· K.D. Infosystems

· Lotus International

· M.B. Power Solution

· Sonu Dryers

· Vikas Associates

· Vishal Craft and Interiors Private Limited

· Vishal Furniture

Customers :

Retailers and End Users

No. of Employees :

50 [Approximately]

Bankers :

· Syndicate Bank, Ghaziabad, Uttar Pradesh, India

· Oriental Bank of Commerce, Ghaziabad, Uttar Pradesh, India

Facilities :

UNSECURED LOAN	As on 31.03.2010 [Amount in Euro]	As on 31.03.2009 [Amount in Euro]
Boost Addtech Private Limited	10869	000
Total	10869	000

Banking Relations :	--
Auditors :
Name :	Pawan K. Goel and Associates Chartered Accountants
Address :	378, Ram Nagar, Kirana Mandi, Ghaziabad-201001, Uttar Pradesh, India
Tel. No.:	91-120-2756253 [Office] 91-120-2755125 [Residential]
Mobile No.:	91-9313596353
Fax No.:	91-120-2755125 [Residential]
E-Mail :	ca.saurabh@icai.org
Pan No.:	AABFP9391A

CAPITAL STRUCTURE

AS ON 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	0.14 Euro each	7000

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	0.14 Euro each	1400

FINANCIAL DATA

[all figures are in Euro]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		1400	1400
2] Share Application Money		21014	000
3] Reserves & Surplus		000	000
4] (Accumulated Losses)		(3828)	(698)
NETWORTH		18586	702
LOAN FUNDS
1] Secured Loans		000	000
2] Unsecured Loans		10869	000
TOTAL BORROWING		10869	000
DEFERRED TAX LIABILITIES		000	000
TOTAL		29455	702
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4684	000
Capital work-in-progress		000	000
INVESTMENT		000	000
DEFERREX TAX ASSETS		000	000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	37654	000
	Sundry Debtors	000	000
	Cash & Bank Balances	1860	857
	Other Current Assets	000	000
	Loans & Advances	2088	000
Total Current Assets		41602	857
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7276	000
	Other Current Liabilities
	Provisions	9506	213
Total Current Liabilities		16782	213
Net Current Assets		24820	644
MISCELLANEOUS EXPENSES		000	107
OTHERS		(49)	(49)
TOTAL		29455	702

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009
	GROSS INCOME	1956	000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(2797)	(260)
Less/ Add	DEPRECIATION/ AMORTISATION	333	000
	PROFIT / (LOSS) BEFORE TAX	(3130)	(260)
Less	TAX	000	000
	PROFIT / (LOSS) AFTER TAX	(3130)	(260)
	Earnings/ (Loss) Per Share (Euro)	(313)	(26)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	(6.76)	(30.34)
Return on Investment (ROI) (PBT/Networth)		(0.17)	(0.37)
Debt Equity Ratio (Total Liability/Networth)		1.49	0.30
Current Ratio (Current Asset/Current Liability)		2.48	4.02

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	Yes
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	No
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

FIXED ASSETS:

· Office Equipments

· Plant and Machinery

· Furniture and Fixtures

· Electrical Fittings

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.52.95
UK Pound	1	Rs.82.04
Euro	1	Rs.68.91

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	-
--CREDIT LINES	1~10	1
--MARGINS	-5~5	-
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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		15

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.