1. Summary Information

		Country	India
Company Name	PARVEZ SHOES PRIVATE LIMITED	Principal Name 1	Mr. Iqbal Ahmed
Status	Satisfactory	Principal Name 2	Mr. Parvez Ahmed
		Registration #	020415
Street Address	150 FT Road, Jajmau, Kanpur-208010, Uttar Pradesh
Established Date	01.08.1996	SIC Code
Telephone#	91-512-2461130/ 2461205/ 2461203/ 2463481 2540504	Business Style 1	Manufacturer and Exporters of all Men’s Footwear, Sandals, Sleepers, Casuals Shoes, Leather and Synthetic Formal Shoes and Safety Shoes.
Fax #	91-512-2461188	Business Style 2
Homepage	http://www.parvezshoes.com	Product Name 1	Fire Fighter
# of employees	--	Product Name 2	Western Boots
Paid up capital	Rs. 100,000	Product Name 3	Cowboy Boots
Shareholders	Directors or relatives of directors 100%	Banking	Canara Bank
Public Limited Corp.	--	Business Period	15 year
IPO	--	International Ins.	--
Public Enterprise	--	Rating	Ba (49)
Relation	--	Company Name	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	46,568,000	Current Liabilities	8,405,000
Inventories	1,865,000	Long-term Liabilities	32,234,000
Fixed Assets	34,958,000	Other Liabilities	0
Deferred Assets	0	Total Liabilities	40,639,000
Invest& other Assets	10,061,000	Retained Earnings	52,713,000
	0	Net Worth	52,813,000
Total Assets	93,452,000	Total Liab. & Equity	93,452,000
Total Assets (Previous Year)	85,095,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	50,004,000	Net Profit	NA
Sales(Previous yr)	30,418,000	Net Profit(Prev.yr)	31,000

MIRA INFORM REPORT

Report Date :

27.07.2011

IDENTIFICATION DETAILS

Name :	PARVEZ SHOES PRIVATE LIMITED
Registered Office :	150 FT Road, Jajmau, Kanpur-208010, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	01.08.1996
Com. Reg. No.:	020415
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U19121UP1996PTC020415
TAN No.: [Tax Deduction & Collection Account No.]	KNPP00258G / KNPP01146F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporters of all Men’s Footwear, Sandals, Sleepers, Casuals Shoes, Leather and Synthetic Formal Shoes and Safety Shoes.
No of Employee :	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 211252
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having good track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered good for normal 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

LOCATIONS

Registered Office :	150 FT Road, Jajmau, Kanpur-208010, Uttar Pradesh, India
Tel. No.:	91-512-2461130/ 2461205/ 2461203/ 2463481 2540504
Fax No.:	91-512-2461188
E-Mail :	ca_rntiwari@rediffmail.com info@parvezshoes.com
Website :	http://www.parvezshoes.com

DIRECTORS

As on 30.09.2010

Name :	Mr. Iqbal Ahmed
Designation :	Director
Address :	266-D Defence Colony, Sewan Tannery, Jammu, Kanpur-208010, Uttar Pradesh, India
Date of Birth/Age :	01.07.1937
Date of Appointment :	01.08.1996
Name :	Mr. Parvez Ahmed
Designation :	Director
Address :	226-D, Defence Colony, Sewan Tannery, Jammu, Kanpur-208010, Uttar Pradesh, India
Date of Birth/Age :	01.06.1958
Date of Appointment :	01.04.2003

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Iqbal Ahmed	500
Parvez Ahmad	500
Total	1000

Equity Share Breakup (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage of Holding
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporters of all Men’s Footwear, Sandals, Sleepers, Casuals Shoes, Leather and Synthetic Formal Shoes and Safety Shoes.
Products :	· Western Boots · Cowboy Boots · Security · Fire Fighter · Jodhpur · Talboot · Regular · Economic · Zipper · Laceup and Paddock · Executive · Classic · Ladies · Belts · Premium · Basic · Chaps · Sportic

GENERAL INFORMATION

Suppliers :

· Alpha Paints and Chemicals Works

· Amarita Packagings Private Limited

· Anamaika Trade Links Private Limited

· Ashish Screen Arts

· Atlantic Cargo

· Baba Cargo Carriers

· Baba Impex Carries

· Classic Polymers

· D.S. Accessories and Footwear Private Limited

· Eastern Esses Manufactures

Customers :

· EW-Schuh Gmbh and Company, Germany

· Hermann Jakob Gmbh and Company

· Hero Reitsport

· Leather Import Glory, Germany

· Pferdesporthaus Loesdau Gmbh

· R.T.S Sportline

· Reiter Outlet Store, Germany

· Acme Fabrik Plast Company

· Banker Shoes Limited

· Export Inspech Agency

Bankers :

· Canara Bank

· ICICI Bank

· Punjab National Bank, Delhi

· State Bank of India, Jajmau

Facilities :

UNSECURED LOANS :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Faryal Zafar	0.000	14.000
Iqbal Ahmed	19.434	14.923
Ikhlaq Ahmad	0.008	0.000
Shamim Ara Begum	0.004	0.000
Shams Naushaba	0.004	0.000
Parvez Ahmed	12.782	9.349
Total	32.232	38.272

Banking Relations :	--
Auditors :
Name :	J Chandra and Company Chartered Accountant
Address :	9/84, Arya Nagar, Kanpur-208002, Uttar Pradesh, India
Tel. No.:	91-512-2540504
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

As on 30.09.2010

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
1000	Equity Shares	Rs. 100/- each	Rs. 0.100 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		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		52.713	42.672	42.673
4] (Accumulated Losses)		0.000	(0.259)	0.000
NETWORTH		52.813	42.513	42.773
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		32.234	38.272	40.412
TOTAL BORROWING		32.234	38.272	40.412
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		85.047	80.785	83.185
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		34.958	38.053	45.782
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		10.061	17.598	16.903
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.865	3.260	5.050
	Sundry Debtors	25.991	19.227	19.619
	Cash & Bank Balances	18.504	5.863	1.402
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.073	1.094	0.451
Total Current Assets		48.433	29.444	26.522
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.994	4.127	5.927
	Current Liabilities	1.411	0.183	0.095
	Provisions	0.000	0.000	0.000
Total Current Liabilities		8.405	4.310	6.022
Net Current Assets		40.028	25.134	20.500
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		85.047	80.785	83.185

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	50.004	30.418	33.774
		Other Income	0.000	0.000	0.000
		TOTAL	50.004	30.418	33.774
Less	EXPENSES
		Other Expenditure	39.679	23.876	29.858
		TOTAL	39.679	23.876	29.858
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		10.325	6.542	3.916
Less	DEPRECIATION/ AMORTISATION		NA	6.497	1.568
	PROFIT BEFORE TAX		10.325	0.045	2.348
Less	TAX		NA	0.014	0.000
	PROFIT AFTER TAX		NA	0.031	2.348
	BALANCE CARRIED TO THE B/S		NA	0.031	2.348
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	48.893	30.012	NA
	TOTAL EARNINGS		48.893	30.012	NA
	Earnings Per Share (Rs.)		7227.00	313.59	2347.00

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	NA	0.10	6.95
Net Profit Margin (PBT/Sales)		20.64	0.14	6.95
Return on Total Assets (PBT/Total Assets}	(%)	12.38	0.07	3.25
Return on Investment (ROI) (PBT/Networth)		0.19	0.00	0.05
Debt Equity Ratio (Total Liability/Networth)		0.76	1.00	1.09
Current Ratio (Current Asset/Current Liability)		5.76	6.83	4.40

LOCAL AGENCY FURTHER INFORMATION

Business Prospects:

The business scenario with the management and it was observed that the operational profitable was decreased due to economic recession and less export orders but the directors are not worried about such situation. In the near future they can achieve the desired profit subject to economic circumstances.

As mentioned last year, more new business programs have been developed and the directors look to the future with confidence.

Fixed Assets:

· Air Compressor

· Air Conditioner

· Car

· Computer

· Generator

· Machinery

· Power Distribution

· Stabliser

· Weight Scale

· Furniture and Fixture

· Building

· Last and Mould

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. 44.29
UK Pound	1	Rs. 72.36
Euro	1	Rs. 64.17

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--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	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		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

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.