BUSINESS INFORMATION REPORT

1. Summary Information

		Country	India
Company Name	Dee Kay Vision Private Limited	Principal Name 1	Mr. Davinder Paul Dhawan
Status	Satisfactory	Principal Name 2	Mr. Surinder Pal Dhawan
		Registration #	16-25080
Street Address	SCF-17 Goal Market, Model Town, Ludhiana – 141 001, Punjab, India
Established Date	17.04.2002	SIC Code	--
Telephone#	91-161-5027070 / 5027171	Business Style 1	Trading
Fax #	--	Business Style 2	--
Homepage	--	Product Name 1	Electronics Appliances
# of employees	5 (Approximately)	Product Name 2	--
Paid up capital	Rs.2,600,000 /-	Product Name 3	--
Shareholders	Directors or relatives of directors (100%)	Banking	Federal Bank
Public Limited Corp.	NO	Business Period	9 Years
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	Ba (47)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	9,929,000	Current Liabilities	16,837,000
Inventories	24,209,000	Long-term Liabilities	14,865,000
Fixed Assets	7,479,000	Other Liabilities	521,000
Deferred Assets	--	Total Liabilities	32,223,000
Invest& other Assets	204,000	Retained Earnings	6,997,000
		Net Worth	9,597,000
Total Assets	41,820,000	Total Liab. & Equity	41,820,000
Total Assets (Previous Year)	35,826,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	187,211,000	Net Profit	2,228,000
Sales(Previous yr)	158,945,000	Net Profit(Prev.yr)	1,297,000

MIRA INFORM REPORT

Report Date :

18.05.2011

IDENTIFICATION DETAILS

Name :	DEE KAY VISION PRIVATE LIMITED
Registered Office :	SCF-17 Goal Market, Model Town, Ludhiana – 141 001, Punjab
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	17.04.2002
Com. Reg. No.:	16-25080
Capital Investment / Paid-up Capital :	Rs.2.600 Millions
CIN No.: [Company Identification No.]	U52233PB2002PTC025080
TAN No.: [Tax Deduction & Collection Account No.]	JLDD00870C
PAN No.: [Permanent Account No.]	AABCD6107H
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in Electronics Appliances.
No. of Employees :	5 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 38000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealing 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 :	SCF-17 Goal Market, Model Town, Ludhiana – 141 001, Punjab, India
Tel. No.:	91-161-5027070 / 5027171
Mobile No.:	91-9815675454 (Mr. Hari om Wadwa)
E-Mail :	rekha_mehra2007@yahoo.co.in dekaychd@gmail.com gurmail_sohi@yahoo.com
Area :	Owned
Showroom :	Located at :- Chandigarh 4,5, Sector8, Chandigarh-160008, Punjab, India
Corporate Office :	SCO-4-5, Madhya Marg, Sector 8-C, Chandigarh-160008, India
Tel. No.:	91-172-5075353
Fax No.:	91-172-5075353

DIRECTORS

As on : 30.09.2010

Name :	Mr. Davinder Paul Dhawan
Designation :	Managing Director
Address :	SCF-17 Goal Market, Model Town, Ludhiana – 141 002, Punjab, India
Date of Birth/Age :	15.03.1955
Date of Appointment :	17.04.2002
Name :	Mr. Surinder Pal Dhawan
Designation :	Whole Time Director
Address :	SCF-17 Goal Market, Model Town, Ludhiana – 141 002, Punjab, India
Date of Birth/Age :	15.12.1957
Date of Appointment :	17.04.2002
Name :	Mr. Ashok Dhawan
Designation :	Director
Address :	SCF-17 Goal Market, Model Town, Ludhiana – 141 002, Punjab, India
Date of Birth/Age :	05.05.1959
Date of Appointment :	17.04.2002
Name :	Mr. Raj Kumar Dhawan
Designation :	Whole Time Director
Address :	SCF-17 Goal Market, Model Town, Ludhiana – 141 002, Punjab, India
Date of Birth/Age :	01.04.1966
Date of Appointment :	01.04.2003
Name :	Mr. Rajinder Mohan Soi
Designation :	Whole Time Director
Address :	71-F, Professor Colony, Yamunanagar, Haryana, India
Date of Birth/Age :	14.05.1961
Date of Appointment :	01.04.2003
Name :	Mr. Hari Om Wadhwa
Designation :	Whole Time Director
Address :	24-C, Bhai Randhir Singh Nagar, Ludhiana – 141 002, Punjab, India
Date of Birth/Age :	07.07.1956
Date of Appointment :	01.04.2003

KEY EXECUTIVES

Name :	M/s P S Bathla and Associates
Designation :	Company Secretary
Address :	S.C.O. 6, 3^rd Floor, Feroze Gandhi Market, Ludhiana-141001, Punjab, India
Tel No. :	91-172-2772759 / 2404526

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2010

Names of Shareholders	No. of Shares
Davinder Paul Dhawan	25
Surinder Paul Dhawan	25
Ashok Dhawan	63300
Raj Kumar Dhawan	25
Narinder Kumar Dhawan	25
Rajinder Mohan Soi	113300
Sumedha Wadhawa	20000
Hari Om Wadhwa (HUF)	20000
Pranav Wadhwa	10000
Rishabh Wadhwa	8000
Hari Om Wadhwa	25300
Total	260000

Equity share breakup (percentage of total equity)

As on : 30.09.2010

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading in Electronics Appliances.

GENERAL INFORMATION

Suppliers :

v Dee Kay Beauty Center

v Dee Kay Electronics

v Dee Kay Electro vision

v Gakhar Electronics

v Kapoor Brothers Agencies Khurl Vision

v Sohar Enterprises

v Samsung India Electronics Private Limited

v Sharma Enterprises

v Shagun Trade Link

v UT Electronics Private Limited

v Paras Sales Corporations

v Sohar Industries

Customers :

v Guru Nanak Public School

v Immaculate Logistic

v Premco India Exim Private Limited

v B.A.F.L. Limited

v CCA Punjab Circle

v Cox and Kings (India) Private Limited

v NHPC Limited

v S.P.S Chinna and Company

v Director Information and Public

v Snow King Retveat

v Sodexho passes A/C

v Sukhdev Auto Mobile

v Vee Kay Enterprises

v Renny Steel

No. of Employees :

5 (Approximately)

Bankers :

· Federal Bank, Ghumar Mandi, Ludhiana – 141 001, Punjab, India

· ICICI Bank

· Citi Bank

· HDFC Bank

Facilities :

Secured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Yes Bank - 002384100000385	5.645	0.000
Yes Bank – Chandigarh	2.138	0.000
Federal Bank C/C (Hyp.)	0.440	7.140
TATA Capital Car Loan	0.196	0.361
Total	8.420	7.501

Unsecured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Hari Om Wadhwa	2.000	2.000
Sukh Raj	1.940	1.947
Sunita Dhawan	2.504	2.433
Total	6.445	6.380

Banking Relations :	---
Auditors :
Name :	Vijay Aneja and Associates Chartered Accountants
Address :	3, 4^th Floor, Noble Enclave, Bhaibala Chowk, Ferozpur Road, Ludhiana - 141 001, Punjab, India
Tel. No.:	91-161-2772759 / 508620
Associates/Subsidiaries (2009):	· Dee Kay Electronics, Ludhiana · Dee Kay Electrovision, Ludhiana · Dee Kay Beauty Care, Ludhiana

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
400000	Equity Shares	Rs.10/- each	Rs.4.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
260000	Equity Shares	Rs.10/- each	Rs.2.600 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.100/- each	Rs.4.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
26000	Equity Shares	Rs.100/- each	Rs.2.600 Millions

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		2.600	2.600	2.600
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		6.997	4.798	3.291
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		9.597	7.398	5.891
LOAN FUNDS
1] Secured Loans		8.420	7.501	7.584
2] Unsecured Loans		6.445	6.380	6.426
TOTAL BORROWING		14.865	13.881	14.010
DEFERRED TAX LIABILITIES		0.521	0.210	0.448
TOTAL		24.983	21.489	20.349
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.479	6.938	6.599
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.185	0.185	0.230
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	24.209	19.175	16.905
	Sundry Debtors	5.828	3.478	6.062
	Cash & Bank Balances	1.942	1.473	2.117
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.158	1.116	1.041
Total Current Assets		34.137	25.242	26.125
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	15.912	10.905	12.642
	Provisions	0.925	0.000	0.000
Total Current Liabilities		16.837	10.905	12.642
Net Current Assets		17.300	14.337	13.483
MISCELLANEOUS EXPENSES		0.019	0.029	0.037
TOTAL		24.983	21.489	20.350

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009	31.03.2008
	TOTAL INCOME	187.211	158.945	162.183
Less	EXPENSES	183.136	156.282	159.797
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	4.075	2.663	2.386
Less/ Add	DEPRECIATION/ AMORTISATION	0.612	0.634	0.581
	PROFIT BEFORE TAX	3.463	2.029	1.805
Less	TAX	1.235	0.732	0.525
	PROFIT AFTER TAX	2.228	1.297	1.280
	Earnings Per Share (Rs.)	8.76	4.99	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.19	0.82	0.80
Net Profit Margin (PBT/Sales)	(%)	1.84	1.28	1.12
Return on Total Assets (PBT/Total Assets}	(%)	8.32	6.31	5.52
Return on Investment (ROI) (PBT/Networth)		0.36	0.27	0.31
Debt Equity Ratio (Total Liability/Networth)		3.30	3.35	4.52
Current Ratio (Current Asset/Current Liability)		2.02	2.31	2.07

LOCAL AGENCY FURTHER INFORMATION

WORKING OF THE COMPANY:

During the year the company achieved total income of Rs.187.211 Millions as against Rs. 158.945 millions during the previous year which shows a growth of 17.78%. However the company earned a net profit of Rs.3.464 millions as compared to Rs. 2.030 millions during the previous year. The company expects better results during coming year.

Form No. 8

Name of the company	DEE KAY VISION PRIVATE LIMITED
Presented By	Mr. Ashok Dhawan, Director
1) Date and description of instrument creating the change	Agreement of Cash Credit hypothecation of goods dated 16.08.2002
2) Amount secured by the charge/amount owing on the securities of charge	Rs.4.000 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Secured by hypothecation of electronic and household appliances
4) Gist of the terms and conditions and extent and operation of the charge.	Cash Credit (hypothecation) limit of Rs.4.000 Millions repayable on demand Rate of interest 15.25% p.a., Margin-25%, Extent and Operation of charge is 100%
5) Name and Address and description of the person entitled to the charge.	The Federal Bank Limited, Bhumar Mandi, Ludhiana
6) Date and brief description of instrument modifying the charge	Not Applicable
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Applicable

Corporate identity number of the company	U52233PB2002PTC025080
Name of the company	DEE KAY VISION PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	SCF-17 Goal Market, Model Town, Ludhiana – 141 001, Punjab, India
This form is for	Creation of charge
Type of charge	· Others · All types of Stocks
Particular of charge holder	Federal Bank Ghumar Mandi, Ludhiana – 141 001, Punjab, India
Nature of instrument creating charge	Agreement of Cash Credit / Overdraft / Demand Loan
Date of instrument Creating the charge	07.01.2009
Amount secured by the charge	Rs.11.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	· Rate of interest 12.50% (BPLR-2.25%) p.a. with monthly / quarterly rests · Terms of repayment As per bank rules · Margin As per bank rules · Extent and operation of the charge 100%
Particulars of the property charged	Electronic Goods and Home Appliances

FIXED ASSETS:

v Ape Three Wheeler

v Furniture and Fixture

v Air Conditioner

v Computer

v Generator

v Scooter

v Elevator

v Printer

v Car

v Tea and Coffee Machine

v Laptop

v Vaccum Cleaner

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	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.