MIRA INFORM REPORT

Report Date :

19.05.2011

IDENTIFICATION DETAILS

Name :	DWARKESH ELECTRICALS
Registered Office :	002, Rose View Apt., Gundavali Gavthan, Nr. Little Flower School Andheri, Mumbai – 400069, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.05.2008
Capital Investment / Paid-up Capital :	Rs.0.507 Millions
Legal Form :	Sole Proprietory Concern
Line of Business :	Trader of Electrical Goods.
No. of Employees :	03

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 2028
Status :	Small Concern
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a small proprietory concern in its field. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The concern can be considered for small 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.

INFORMATION PARTED BY

Name :	Mr. Amit Mehta
Designation :	Proprietor
Contact No.:	91-9320445454
Date :	18.05.2011

LOCATIONS

Registered Office :	002, Rose View Apt., Gundavali Gavthan, Nr. Little Flower School Andheri, Mumbai – 400069, Maharashtra, India
Tel. No.:	91-22-64534454
E-Mail :	dwarkeshelectrical@reduffmail.com

SOLE PROPRIETOR

Name :	Mr. Amit Mehta
Designation :	Proprietor
Date of Birth/Age :	26 years
Qualification :	B. com

BUSINESS DETAILS

Line of Business :	Trader of Electrical Goods.
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Customers :	Retailers
No. of Employees :	03
Bankers :	Bank of India, S V Road, Kandivali (West)
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Chintan Chedda Chartered Accountant
Address :	002, Rose View Apt., Gundavali Gavthan, Nr. Little Flower School Andheri, Mumbai – 400069, Maharashtra, India
Associates/Subsidiaries :	NA

CAPITAL STRUCTURE

Particulars	Rs. In Millions 31.03.2010	Particulars	Rs. In Millions 31.03.2010
To Capital Withdrawals	0.331	By Balance B/d	0.149
To Bajaj Alliance Insurance	0.010	By Capital Introduction	0.538
To Drawings	0.060	By Interest on FD	0.015
To LIC Premium	0.007	By Net Profit as per Profit and Loss A/c	0.225
To PPF	0.002
To Railway Ticket	0.001
To Mediclaim	0.008
To T D S on Interest	0.001
To Balance C/d	0.507
Total	0.927	Total	0.927

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2011
Sales Turnover (Approximately)	7.100

Expected Sales (2011-2012) : Rs.10.000 Millions

The above information has been parted by Mr. Amit Mehta (Proprietor)

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.507
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.507
LOAN FUNDS
1] Secured Loans		0.289
2] Unsecured Loans		0.051
TOTAL BORROWING		0.340
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.847
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.020
Capital work-in-progress		0.000
INVESTMENT		0.428
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.176
	Sundry Debtors	0.267
	Cash & Bank Balances	0.020
	Other Current Assets	0.000
	Loans & Advances	0.126
Total Current Assets		0.589
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.190
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.190
Net Current Assets		0.399
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.847

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010
	SALES
		Income	1.947
		Other Income	0.135
		TOTAL	2.082
Less	EXPENSES
		Cost of Goods Sold	1.676
		Administrative Expenses	0.017
		Advertising Expenses	0.148
		TOTAL	1.841
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.241
Less	FINANCIAL EXPENSES		0.015
	NET PROFIT FOR THE YEAR		0.226

KEY RATIOS

PARTICULARS	31.03.2010
Debt Equity Ratio (Total Liability/Networth)	1.05
Current Ratio (Current Asset/Current Liability)	3.10

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

(Rs. In Millions)

Particulars	31.03.2010
Sundry Creditors	0.190

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.45.07
UK Pound	1	Rs.72.97
Euro	1	Rs.63.57

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.