1. Summary Information

		Country	India
Company Name	Jaimal Traders Private Limited	Principal Name 1	Mr. Subhashchandra G. Malhotra
Status	Moderate	Principal Name 2	Mr. Deepak S. Malhotra
		Registration #	11-171087
Street Address	109, Central Avenue Road, Nagpur – 440 018, Maharashtra, India
Established Date	23.05.2007	SIC Code	--
Telephone#	91-712-2722932 / 2725375 / 6611494 / 6611495	Business Style 1	Trading
Fax #	91-712-2721578 / 2725375	Business Style 2	--
Homepage	--	Product Name 1	T.V.
# of employees	15 (Approximately)	Product Name 2	LCDs
Paid up capital	Rs.9,900,000/-	Product Name 3	Washing Machines
Shareholders	Directors or relatives of directors (100.00%)	Banking	State Bank of Patiala
Public Limited Corp.	--	Business Period	4 Years
IPO	--	International Ins.	-
Public Enterprise	--	Rating	B (26)
Related Company
Relation	Country	Company Name	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2009		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	42,290,000	Current Liabilities	13,543,000
Inventories	40,716,000	Long-term Liabilities	62,320,000
Fixed Assets	4,888,000	Other Liabilities	000
Deferred Assets	39,000	Total Liabilities	75,863,000
Invest& other Assets	018,000	Retained Earnings	2,188,000
		Net Worth	12,088,000
Total Assets	87,951,000	Total Liab. & Equity	87,951,000
Total Assets (Previous Year)	66,634,000
P/L Statement as of	31.03.2009		(Unit: Indian Rs.)
Sales	364,015,000	Net Profit	2,226,000
Sales(Previous yr)	000	Net Profit(Prev.yr)	(38,000)

MIRA INFORM REPORT

Report Date :

30.07.2011

IDENTIFICATION DETAILS

Name :	JAIMAL TRADERS PRIVATE LIMITED
Registered Office :	109, Central Avenue Road, Nagpur – 440 018, Maharashtra
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	23.05.2007
Com. Reg. No.:	11-171087
Capital Investment / Paid-up Capital :	Rs.9.900 Millions
CIN No.: [Company Identification No.]	U51909MH2007PTC171087
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Consumer Durables and Cell Phones.
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 48000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Latest financials of the company are missing from the government departments. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

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. Sagdeo
Designation :	Chartered Accountant
Contact No.:	91-9890448179
Date :	21.07.2011

LOCATIONS

Registered Office :	109, Central Avenue Road, Nagpur – 440 018, Maharashtra, India
Tel. No.:	91-712-2722932 / 2725375 / 6611494 / 6611495
Mobile No. :	91-9890448179 (Mr. Sagdeo)
Fax No.:	91-712-2721578 / 2725375
E-Mail :	sagdeo1@gmail.com
Area :	1000 Sq. Ft.
Location :	Owned

DIRECTORS

As on 30.09.2010

Name :	Mr. Subhashchandra G. Malhotra
Designation :	Director
Address :	1420, Deshpande Layout, Wardman, Nagpur – 440 008, Maharashtra, India
Date of Birth/Age :	29.01.1946
Qualification :	B. Com
Date of Appointment :	23.05.2007
DIN No. :	02161780
Name :	Mr. Deepak S. Malhotra
Designation :	Director
Address :	1420, Deshpande Layout, Wardman, Nagpur – 440 008, Maharashtra, India
Date of Birth/Age :	17.07.1965
Qualification :	B. Com
Date of Appointment :	23.05.2007
DIN No. :	01216215
Name :	Mr. Pankaj S. Malhotra
Designation :	Director
Address :	1420, Deshpande Layout, Wardman, Nagpur – 440 008, Maharashtra, India
Date of Birth/Age :	04.09.1970
Qualification :	B. Com
Date of Appointment :	23.05.2007
DIN No. :	02138179
Name :	Mr. Neeraj S. Malhotra
Designation :	Director
Address :	1420, Deshpande Layout, Wardman, Nagpur – 440 008, Maharashtra, India
Date of Birth/Age :	08.07.1976
Qualification :	B. Com
Date of Appointment :	23.05.2007
DIN No. :	01216253
Name :	Mr. Gaurav S. Malhotra
Designation :	Director
Address :	1420, Deshpande Layout, Nagpur – 440 008, Maharashtra, India
Date of Birth/Age :	20.06.1974
Qualification :	B. Com
Date of Appointment :	23.05.2007
DIN No. :	02138182

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Subhashchandra G. Malhotra	18114
Pankaj S. Malhotra	18425
Snehlata Malhotra	6872
Neeraj S. Malhotra	15090
Deepak S. Malhotra	23179
Mohini Malhotra	9350
Gaurav S. Malhotra	14569
Sneha D. Malhotra	11403
Total	117002

As on 30.09.2010

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

BUSINESS DETAILS

Line of Business :	Trader of Consumer Durables and Cell Phones.
Products :	· T.V. · LCDs · Washing Machines · Air Conditioners
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

· Wholesalers

· Retailers

· End Users

· OEM’s

No. of Employees :

15 (Approximately)

Bankers :

State Bank of Patiala

Central Avenue Branch, Central Avenue, Nagpur – 440 008, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2009 (Rs. in Millions)	As on 31.03.2008 (Rs. in Millions)
Cash Credit Limit from State Bank of Patiala, Central Avenue, Nagpur Branch, Nagpur - Secured by hypothecation of stocks and book debts of the company and personal guarantee of all directors of the company and three relatives of a director of the company.	37.323	21.604
Car Loans from State Bank of Patiala, Central Avenue, Nagpur Branch, Nagpur - Secured by hypothecation of motor cars of the company / earstwhile firms and personal guarantee of directors of the company.	0.820	1.064
Balance with state Bank of Patiala, Nagpur by Reconciliation	1.137	0.000
Total	39.280	22.668
Unsecured Loans
From Directors and Their Relatives	5.804	4.502
From Others (Guaranteed by the Directors of the Company)	17.236	7.621
Total	23.040	12.123

Banking Relations :	--
Auditors :
Name :	V Y Sagdeo and Company Chartered Accountant
Address :	Prabha Niwas, East Side Ground Floor, Wardha Road, Rahate Colony, Nagpur-440 022, Maharashtra, India

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
199000	Equity Shares	Rs.100/- each	Rs.19.900 Millions
1000	Preferences Shares	Rs.100/- each	Rs.0.100 Million
	Total		Rs.20.000 Millions

Issued, Subscribed Capital :

No. of Shares	Type	Value	Amount
199000	Equity Shares	Rs.100/- each	Rs.19.900 Millions
1000	Preferences Shares	Rs.100/- each	Rs.0.100 Million
	Total		Rs.20.000 Millions

Paid-up Capital :

No. of Shares	Type	Value	Amount
117002	Equity Shares	Rs.100/- each	Rs.11.700 Millions

After As on 30.09.2010

Authorised Capital : Rs.20.000 Millions

Paid-up Capital : Rs.15.650 Millions

As on 31.03.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
99000	Equity Shares	Rs.100/- each	Rs.9.900 Millions
1000	Redeemable Preferences Shares	Rs.100/- each	Rs.0.100 Million
	Total		Rs.10.000 Millions

Issued, Subscribed, Paid-up Capital :

No. of Shares	Type	Value	Amount
99000	Equity Shares	Rs.100/- each	Rs.9.900 Millions

(Of the above Shares Nil (74901) Shares of Rs.100 each are allotted as fully paid up pursuant to contract between the company and the firms in which the allottees were partners.)

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		9.900	8.663
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		2.188	0.000
4] (Accumulated Losses)		0.000	(0.039)
NETWORTH		12.088	8.624
LOAN FUNDS
1] Secured Loans		39.280	22.668
2] Unsecured Loans		23.040	12.123
TOTAL BORROWING		62.320	34.791
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		74.408	43.415
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.888	4.624
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.039	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	40.716	20.256
	Sundry Debtors	25.581	19.065
	Cash & Bank Balances	6.418	15.927
	Other Current Assets	0.000	0.000
	Loans & Advances	10.291	6.740
Total Current Assets		83.006	61.988
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	12.197	22.730
	Other Current Liabilities	0.255	0.489
	Provisions	1.091	0.000
Total Current Liabilities		13.543	23.219
Net Current Assets		69.463	38.769
MISCELLANEOUS EXPENSES		0.018	0.022
TOTAL		74.408	43.415

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009	31.03.2008
	SALES
		Sales	364.015	0.000
		Other Income	0.035	0.000
		TOTAL (A)	364.050	0.000
Less	EXPENSES
		Purchases of Traded Goods and Expenses thereon	335.533	0.000
		Vat Tax on Purchases	26.314	0.000
		Salary to Staff	2.049	0.000
		Remunerations to Director	1.200	0.000
		Selling and Distribution Expenses	4.724	0.000
		Administrative Expenses	4.739	0.035
		Preliminary Expenses Written Off	0.003	0.003
		Increase/(Decrease) in Finished Goods	(20.459)	0.000
		TOTAL (B)	354.103	0.038
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		9.947	(0.038)
Less	FINANCIAL EXPENSES (D)		6.406	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.541	(0.038)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.261	0.000
	PROFIT BEFORE TAX (E-F) (G)		3.280	(0.038)
Less	TAX (H)		1.054	0.000
	PROFIT AFTER TAX (G-H) (I)		2.226	(0.038)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.038)	0.000
Less	APPROPRIATIONS
		Transfer to General Reserve	2.000	0.000
	BALANCE CARRIED TO THE B/S		0.188	(0.038)
	Earnings Per Share (Rs.)		22.49	NA

Particulars	31.03.2010
Sales Turnover (Approximately)	400.000

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008
PAT / Total Income	(%)	0.61	NA
Net Profit Margin (PBT/Sales)	(%)	0.90	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.73	(0.06)
Return on Investment (ROI) (PBT/Networth)		0.27	(0.00)
Debt Equity Ratio (Total Liability/Networth)		6.27	6.73
Current Ratio (Current Asset/Current Liability)		6.13	2.67

LOCAL AGENCY FURTHER INFORMATION

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U51909MH2007PTC171087
Name of the company	JAIMAL TRADERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	109, Central Avenue Road, Nagpur – 440 018, Maharashtra, India
Type of charge	Book Debts Movable Property (not being pledge) Floating Charge
Particular of charge holder	State Bank of Patiala Central Avenue Branch, Central Avenue, Nagpur – 440 008, Maharashtra, India
Email	b5334@sbp.co.in
Nature of description of the instrument creating or modifying the charge	Agreement for Hypothecation of Goods and Assets SBP 1612 Dated 27-03-2008 General Loan Agreement for overall limits SBP 1613 Dated 27-03-2008
Date of instrument Creating the charge	27.03.2008
Amount secured by the charge	Rs.35.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest At 0.50% above BPLR, presently 13.50% p.a. (Monthly) (floating) Terms of Repayment Yearly renewal Margin Inventory 25%, Book debts upto 90 days 35% in banks favour Extent and Operation of the charge Stock valuation to be done at Invoice price or market price or control price whichever is lower. Storage of goods at different places of the company to be inspected by the bank periodically. All goods to be comprehensively insured against all risks with the agreed bank clause at the cost of the company. Processing charges to be paid @ 75% of the normal processing fees. No bank finance against unpaid stocks over and above levels assessed in CMA data which should be shown separately in stmts. Others Guarantors of the advance Personal guarantee of all the directors of the company. All other usual terms and conditions as per sanction letter.
Short particulars of the property charged	All the stocks of traded goods at the showroom of the company and at all its godowns at various places and book debts.

FIXED ASSETS:

· Shop Premises

· Office Equipment

· Furniture and Fittings

· Delivery / Goods Pick Up Vehicles

· Office Vehicles 2 Wheelers

· Office Vehicles 4 Wheelers

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.44.16
UK Pound	1	Rs.72.10
Euro	1	Rs.63.10

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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	-

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.