MIRA INFORM REPORT

Report Date :

15.07.2011

IDENTIFICATION DETAILS

Name :	KAMLA HOMES AND LIFESTYLES PRIVATE LIMITED
Registered Office :	A/203, Mahavideh, Near Municipal Garden, Chandavarkar Road, Borivali (West), Mumbai-400092, Maharashtra.
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	21.07.2008
Com. Reg. No.:	11-184854
Capital Investment / Paid-up Capital :	Rs. 0.100 million.
CIN No.: [Company Identification No.]	U45202MH2008PTC184854
Legal Form :	Private Limited Liability Company
Line of Business :	Building Construction and Redevelopment.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

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 :	Recently commenced Business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Through the company was incorporated in the year 2008. The company has recently commenced it’s commercial operation. Business is active. Payments are unknown. The company can be considered for business dealings an 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 – 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. Jayant Jain
Designation :	Key Executive
Contact No.:	91-22-28983854
Date :	13.07.2011

LOCATIONS

Registered Office :	A/203, Mahavideh, Near Municipal Garden, Chandavarkar Road, Borivali (West), Mumbai-400092, Maharashtra, India
Tel. No.:	91-22-2898385
E-Mail :	kamlagroup@yahoo.com
Website :	www.kamalagruop.com
Area :	1500 sq. ft.
Location :	Owned
Branch Office :	101, Mayur Tower, Chandavarkar Road Extension, Borivali (West), Mumbai-400092, Maharashtra, India
Area :	900 sq. ft.

DIRECTORS

AS ON 29.09.2009

Name :	Mr. Pravin Chouthmal Jain
Designation :	Director
Address :	303, Raman Panna, Subhash Road, Vile Parel (East), Mumbai-400057, Maharashtra, India
Date of Birth/Age :	29.12.1961
Date of Appointment :	21.07.2008
DIN No :	01127229
Name :	Mr. Dwarkesh Damodar Sheth
Designation :	Director
Address :	B/1104, Mahavideh, Chandavarkar Road, Borivali (West), Mumbai-400092, Maharashtra, India
Date of Birth/Age :	24.01.1969
Date of Appointment :	21.07.2008
DIN No :	01142730
Name :	Mr. Ajaypal Bhawanishankar Rawal
Designation :	Director
Address :	302, Haveli, CTS No.69, Chandavarkar Road, Borivali (West), Mumbai-400092, Maharashtra, India
Date of Birth/Age :	22.01.1953
Date of Appointment :	21.07.2008
DIN No :	02173469

KEY EXECUTIVES

Name :	Mr. Jayant Jain
Designation :	Key Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2009

Names of Shareholders	No. of Shares
Pravin Chouthmal Jain	4000
Dwarkesh Damodar Sheth	3400
Ajaypal Bhawanishankar Rawal	2600
Total	10000

AS ON 29.09.2009

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Building construction and Redevlopment.
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Customers :

· Others

· Housing society

No. of Employees :

20 (Approximately)

Bankers :

· Ratnakar Bank

Facilities :

Unsecured Loan	Rs. In Millions 31.03.2009
Shri Dwarkesh D Sheth	0.008
From Others
M/s. Kamla Enterprises	0.015
Total	0.023

Banking Relations :	--
Auditors :
Name :	Dushyant Deviprasad Anjaria Chartered Accountant
Address :	002, Samadhan, Off Vazira Naka, Borivali (West), Mumbai-400091, Maharashtra, India
Sister Concern:	· Kamla Residency · Kamla Homes and Lifestyles · Kamla Enterprises

CAPITAL STRUCTURE

AS ON 31.03.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.006)
NETWORTH		0.094
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.023
TOTAL BORROWING		0.023
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.117
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.084
	Other Current Assets	0.005
	Loans & Advances	0.000
Total Current Assets		0.089
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities	0.002
	Provisions	0.000
Total Current Liabilities		0.002
Net Current Assets		0.087
MISCELLANEOUS EXPENSES		0.030
TOTAL		0.117

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009
	SALES
		Income	0.000
		Other Income
		TOTAL	0.000
Less	EXPENSES
		Audit Fees	0.003
		Preliminary Expenses Written off	0.003
		TOTAL	0.006
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.006)
Less	FINANCIAL EXPENSES		0.000
	PROFIT BEFORE TAX		(0.006)
	BALANCE CARRIED TO THE B/S		(0.006)

KEY RATIOS

PARTICULARS		31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	(6.74)
Return on Investment (ROI) (PBT/Networth)		(0.06)
Debt Equity Ratio (Total Liability/Networth)		0.26
Current Ratio (Current Asset/Current Liability)		44.50

LOCAL AGENCY FURTHER INFORMATION

NIL

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.44.52
UK Pound	1	Rs.71.80
Euro	1	Rs.63.15

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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		11

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.