MIRA INFORM REPORT

Report Date :

08.01.2011

IDENTIFICATION DETAILS

Name :	RMZ CORP HOLDINGS PRIVATE LIMITED

Registered Office :	The Millenia Tower – B, Level 12-24, Murphy Road, Ulsoor, Bangalore – 560008, Karnataka

Country :	India

Financials (as on) :	31.03.2010

Date of Incorporation :	25.04.2006

Com. Reg. No.:	08-039111

CIN No.: [Company Identification No.]	U70102KA2006PTC039111

Legal Form :	Private Limited Liability Company

Line of Business :	Real Estate Developers.

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

<10

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

Status :	Not Commenced Business till March 2010

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Though the company was incorporated in the year 2006, the company has not commenced its business operations till March 2010. Payment terms are not known. The company can be considered for business dealings on a safe and 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 – April 1, 2010

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

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

INFORMATION DENIED BY

Name :	Ms. Saraswati Shetty
Designation :	Senior Accountant
Date :	03.01.2011

LOCATIONS

Registered Office :	The Millenia Tower – B, Level 12-24, Murphy Road, Ulsoor, Bangalore – 560008, Karnataka, India
Tel. No.:	91-80-40004000
Fax No.:	91-80-40004100
E-Mail :	g.madhusudhana@rmzcorp.com mahadev.prakash@rmzcorp.com
Website :	http://www.rmzcorp.com

Corporate Office :	Level 12-14, Tower – B, The Millenia 1 and 2, Murphy Road, Bangalore – 560008, Karnataka, India

Branches :	Located at : Chennai Hyderabad Kolkata

DIRECTORS

As on 07.09.2009

Name :	Mr. Raj Arjun Menda
Designation :	Director
Address :	The Heaven 78/1-A, Benson Cross Road, Benson Town, Bangalore – 560046, Karnataka, India
Date of Birth/Age :	09.08.1962
Date of Appointment :	25.04.2006
Other Directorship :	Millennia Realtors Private Limited CIN No. : U99999KA1997PTC022948 Millennia Developers Private Limited CIN No. : U99999KA1997PTC022947 Millennia Infrastructure Private Limited CIN No. : U9219KA2005PTC035779 RMZ Infrastructure Private Limited CIN No. : U45208KA2005PTC035681 Paliwal Infrastructure Private Limited CIN No. : U45201KA2000PTC028314 Ecoworld Infrastructure Private limited CIN No. : U45202KA2005PTC038050 RM Business Enterprises Private Limited CIN No. : U74140KA2005PTC037724 Ashoka Apartments Private Limited CIN No. : U00500KA1987PTC008631 Harmen Manufacturing Company Private Limited CIN No. : U00369KA1972PTC002182 K. Raheja Hotels and Estates Private Limited CIN No. : U00500KA1990PTC010775 RMZ Infotech Private Limited CIN No. : U01119AP2003PTC0042124

Name :	Mr. Manoj Arjun Menda
Designation :	Director
Address :	The Heaven 78/1-A, Benson Cross Road, Benson Town, Bangalore – 560046, Karnataka, India
Date of Birth/Age :	07.01.1968
Date of Appointment :	25.04.2006
Other Directorship :	Millennia Realtors Private Limited CIN No. : U99999KA1997PTC022948 Millennia Developers Private Limited CIN No. : U99999KA1997PTC022947 Millennia Infrastructure Private Limited CIN No. : U9219KA2005PTC035779 RMZ Infrastructure Private Limited CIN No. : U45208KA2005PTC035681 Ecoworld Infrastructure Private limited CIN No. : U45202KA2005PTC038050 RM Business Enterprises Private Limited CIN No. : U74140KA2005PTC037724 Ashoka Apartments Private Limited CIN No. : U00500KA1987PTC008631 Harmen Manufacturing Company Private Limited CIN No. : U00369KA1972PTC002182 K. Raheja Hotels and Estates Private Limited CIN No. : U00500KA1990PTC010775 RMZ Infotech Private Limited CIN No. : U01119AP2003PTC0042124

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 07.09.2009

Names of Shareholders		No. of Shares
Millennia Realtors Private Limited (India)		51000
Mr. Raj Arjun Menda		24500
Mr. Manoj Arjun Menda		24500
Total		100000

Category	Percentage
Bodies corporate	51.00
Directors or relatives of Directors	49.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Real Estate Developers.

GENERAL INFORMATION

No. of Employees :

Not Divulged by the management

Bankers :

Vijaya Bank, Indiranagar

Facilities :

Unsecured Loans

31.03.2010

Rs. in Millions

31.03.2009

Rs. In Millions

Millennia Realtors Private Limited

1.500

Total

1.500


Banking Relations :	--

Auditors :
Name :	N.C.S. Raghavan and Company Chartered Accountant
Address :	No. 27 Sri Venkateshwar Krupa, 1^st Main Road Vyalikaval, Bangalore – 560003, Karnataka, India
Telefax No.:	91-80-23361030 / 23514260
E-Mail :	ncs_ncsrin@yahoo.com ashok_ncsr@yahoo.com

CAPITAL STRUCTURE

As on 07.09.2009

Authorised Capital :

No. of Shares	Type	Value	Amount

500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

100000	Equity Shares	Rs.10/- each	Rs.1.000 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		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.000	1.000	1.000
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		1.500	1.500	1.645
TOTAL BORROWING		1.500	1.500	1.645
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		2.500	2.500	2.645

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.708	0.815	2.235
	Other Current Assets	393.395	393.219	391.125
	Loans & Advances	0.087	0.109	0.000
Total Current Assets		394.190	394.143	393.360
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	392.365	392.228	391.125
	Other Current Liabilities	0.035	0.033	0.038
	Provisions	0.000	0.000	0.000
Total Current Liabilities		392.400	392.261	391.163
Net Current Assets		1.790	1.882	2.197

MISCELLANEOUS EXPENSES		0.710	0.618	0.448

TOTAL		2.500	2.500	2.645

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL (A)	0.009	0.000

Less	EXPENSES
		Printing and Stationery	0.001	0.001
		Audit Fees	0.027	0.027
		Bank Charges	0.000	0.002
		Rates and Taxes	0.002	0.004
		Legal and Professional Fee	0.011	0.005
		Repair and Maintenance	0.000	0.000
		Traveling Expenses	0.059	0.124
		Entertainment Expenses	0.000	0.003
		Interest on delayed payment of TDS	0.000	0.002
		TOTAL (B)	0.100	0.168

	NET LOSS CARRIED TO BALANCE SHEET (A-B)		(0.091)	(0.168)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(1011.11)	0.00	-

Return on Total Assets (PBT/Total Assets}	(%)	(0.02)	(0.04)	-

Return on Investment (ROI) (PBT/Networth)		(0.09)	(0.17)	-

Debt Equity Ratio (Total Liability/Networth)		393.90	393.76	392.80

Current Ratio (Current Asset/Current Liability)		1.00	1.00	1.00

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS :-

(Rs. in Millions)

Particulars	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors – RMZ Infotech Private Limited	392.365	392.228	391.125
Total	392.365	392.228	391.125

OPERATIONS :-

During the year, the company is in the process of obtaining all the statutory approvals in respect of development of land at Mangalore.

WEBSITE DETAILS :-

About Company :

India's leading corporate real estate developer since 2002, RMZ Corp has given the industry a fresh perspective. The essence of this new approach is captured by our philosophy 'Being the Change'. Being the Change reflects their commitment to sustainable development and to transforming the way Indian real estate industry functions.

In the past 7 years, RMZ has acquired and developed over 13 million square feet and today manages a property portfolio in excess of US$ 3 billion in real estate value across India making it a leading supplier of corporate space in the country. Over 90 world-class corporations such as Accenture, AOL, Airbus, British Telecom, Ford, Google, Reuters, Shell, E&Y, EDS, among others occupy work spaces built and managed by RMZ.

They have excelled in the area of developing office spaces and have now forayed into retail, homes, and mixed use projects with big ticket investments on the anvil. 64 Million sq. ft of development has been committed for the next 5 years across these projects.

They are headquartered at Bengaluru and our other offices are located at Chennai, Hyderabad, Kolkata and Pune. They have expanded their activities to Mysore, Mangalore, Coimbatore, Kochi and Nagpur. They are also a founding member of the Indian Green Building Council as well as being a member of the U.S. Green Building Council

Management :

H.S. Srinivas, Director

Mr. H.S Srinivas is the Chairman of RMZ Infotech Private Limited. He has been associated with the RMZ Group for the last 9 years. He is a graduate in Commerce and Law. As a retired Senior Banker and Financial Consultant, he was Advisor to Vijaya Bank, ITC Limited and was closely associated with Reliance Industries. Prior to his association with RMZ Corp, Mr. Srinivas was an Advisor to the K. Raheja Group, Bombay.

Raj Menda, MD

Mr. Raj Menda is the Managing Director of RMZ Corp. He has been transforming RMZ into a progressive, competitive and customer-driven organization. As the Chief Strategist of RMZ Corp, his responsibilities include managing organizational performance, formulating business strategy and plans, defining the scope of enterprise, initiating business goals, developing new markets, forecasting and analysing finance for projects.

His vision and leadership have led RMZ Corp to become one of the largest real estate developers in India today. He is the President of the State Real Estate Developers Association (CREDAI, Karnataka), Member of the National Executive Committee 2009 – 2011(CREDAI) and the Chairman of the 2009 Jury for Urban Land Institute Awards of Excellence, Asia Pacific.

Mr. Raj Menda has completed various prestigious certified courses overseas. Some of these include Real Estate Executive Seminar and Certified course from Harvard Business School, Structuring Real Estate Finance from Euro money training- Singapore, Master Class in Commercial Real estate from Terrapin – Singapore, Financing & Investing in Real Estate projects from Urban Land Institute, USA and Certified course of Euro money Training Asia.

Manoj Menda, MD

Mr. Manoj Menda is the Managing Director of RMZ Corp. He manages organizational performance and integrates the needs of the organization, its members and the external environment. He also manages the inter-relationship between the various sub-systems within the organization.

He is in-charge of formulation and implementation of business policies, project financing, financial forecasting, analysis, financial control and management of working capital of the various projects on hand. He controls the several aspects of the projects including cost, design, document, planning and programme management

Mr. Manoj Menda has a Bachelor’s Degree in Civil engineering from the B.M.S College of Engineering, Bangalore and an MBA from the Rochester Institute of Technology, NY. From 2001 to 2007 he was involved with the Young Entrepreneurs Organization

Overview :

RMZ Galleria is more than just any shopping mall; it’s a unique lifestyle experience. Its international façade and multi-experiential retail outlets make RMZ Galleria a world-class shopping destination.

This 1 million sq ft destination mall provides a delightfully shopping experience with its 9 screen PVR cinema, 1 lac sq. ft Hyper City hypermarket and anchor department stores such as Shoppers Stop, Westside and Debenhams. With extensive food offerings and over 200 stores you will be spoilt for choice ensuring that every visit of yours is like your first one – brimming with memories, experiences and moments.

The strategic location of RMZ Galleria in the heart of a large catchment population, midway from the city centre and the new international airport will be critical in driving visitors to the mall. In addition, RMZ Galleria also has superior connectivity with the Metro rail project.

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	Indian Rupees
US Dollar	1	Rs.45.37
UK Pound	1	Rs.70.03
Euro	1	Rs.58.93

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.

MIRA INFORM REPORT

0.000

0.000

0.708

393.395

0.087

394.190

0.035

0.000

392.400

1.790

(1011.11)

(0.02)

(0.09)

393.90

1.00

Unit