1. Summary Information

		Country	India
Company Name	SINGH SONS DISTRIBUTORS PRIVATE LIMITED	Principal Name 1	Mr. Hardeep Singh Chharbra
Status	Satisfactory	Principal Name 2	Mr. Harpeet Singh Chhabra
		Registration #	53-026369
Street Address	64, Sector 18-A, Chandigarh-160019, Uttaranchal, India
Established Date	15.09.2003	SIC Code	--
Telephone#	---	Business Style 1	Wholesalers
Fax #	---	Business Style 2	---
Homepage	---	Product Name 1	Radio
# of employees	---	Product Name 2	Television
Paid up capital	Rs.100,000/-	Product Name 3	Consumer Electronics.
Shareholders	Other top Fifty shareholders 99% and other 1%	Banking	Vijaya Bank
Public Limited Corp.	---	Business Period	8 Years
IPO	---	International Ins.	-
Public Enterprise	---	Rating	Ba (49)
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	14,104,000	Current Liabilities	11,603,000
Inventories	11,962,000	Long-term Liabilities	14,300,000
Fixed Assets	2,531,000	Other Liabilities	0.000
Deferred Assets	157,000	Total Liabilities	25,903,000
Invest& other Assets	0.000	Retained Earnings	2,481,000
		Net Worth	2,851,000
Total Assets	28,754,000	Total Liab. & Equity	28,754,000
Total Assets (Previous Year)	25,012,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	191,968,000	Net Profit	989,000
Sales(Previous yr)	135,420,000	Net Profit(Prev.yr)	700,000

MIRA INFORM REPORT

Report Date :

19.05.2011

IDENTIFICATION DETAILS

Name :	SINGH SONS DISTRIBUTORS PRIVATE LIMITED
Registered Office :	# 64, Sector 18-A, Chandigarh-160019, Uttaranchal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	15.09.2003
Com. Reg. No.:	53-026369
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN .:	U51395CH2003PTC026369
TAN No.: [Tax Deduction & Collection Account No.]	PTLS14167G
Legal Form :	Private Limited Liability Company
Line of Business :	Wholesalers of Radio, Television and Consumer Electronics.

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 11000
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. Payment are reported to be usually correct and as per commitments. The company can be considered 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 :	# 64, Sector 18-A, Chandigarh-160019, Uttaranchal
E-Mail :	fca.aggarwal@gmail.com khullar_rohitcs@yahoo.co.in
Corporate Office :	HIG 9, Sector – 3, Parwanoo – 173220, India
Tel. No.:	91-1792-235153
Fax No.:	91-1792-235153

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Hardeep Singh Chhabra
Designation :	Whole Time Director
Address :	H.No.496, Sector 21, Panchkula, Haryana – 134109, India
Date of Birth/Age :	07.04.1965
Date of Appointment :	15.09.2003
DIN No :	00530841
Name :	Mr. Harpreet Singh Chhabra
Designation :	Whole Time Director
Address :	H.No.496, Sector 21, Panchkula, Haryana – 134109, India
Date of Birth/Age :	18.10.1970
Date of Appointment :	15.09.2003
DIN No :	00530859
Name :	Mr. Gurtoj Singh Anish
Designation :	Whole Time Director
Address :	H.No.496, Sector 21, Panchkula, Haryana – 134109, India
Date of Birth :	19.08.1990
Date of Appointment :	22.08.2008
DIN No :	02562300

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Hardeep Singh	2000
Harpreet Singh	2000
Satpal Singh	1996
Preetinder Kaur	2000
Geetu	2000
Hardeep Singh (HUF)	1
Beant Kaur	1
Kanwaljeeet Kaur	1
Uttam Kaur	1
Total	10000

AS ON 30.09.2010

Category	Percentage
Other top fifty shareholders	99.00
Others	1.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Wholesalers of Radio, Television and Consumer Electronics.

Products :

Product Description	Item Code (ITC Code)
Television Set of Screen Size up to 36 cm	85281211
LCD TV Set of Screen Size below 63cm	85281218
Refrigerator	84181090

GENERAL INFORMATION

Bankers :

· Vijaya Bank, Sector – 11, Panchkula-134109, Haryana, India

· ICICI Bank

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Vijaya Bank Panchkula(Secured against hypothecation of all types of stock of the company	1.926	4.730
ICICI Innova Loan	0.277	0.518
LMV Swift Vijaya Bank Loan	0.678	0.055
Vijaya Bank_250001	0.439	0.000
Total	3.320	5.303
Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Unsecured Loans	10.979	11..650
Total	10.979	11.650

Banking Relations :	-
Auditors :
Name :	Rupesh Parikshit and Associates Chartered Accountant
Address :	House No.1238, Sector 22B, Chandigarh-160022, India.
PAN No :	AADFR9921Q

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

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

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 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		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.270	0.270	0.660
3] Reserves & Surplus		2.481	1.492	0.791
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.851	1.862	1.551
LOAN FUNDS
1] Secured Loans		3.321	5.303	2.618
2] Unsecured Loans		10.979	11.650	8.989
TOTAL BORROWING		14.300	16.953	11.607
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		17.151	18.815	13.158
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.531	1.552	1.799
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.157	0.104	0.114
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	11.962	7.339	5.026
	Sundry Debtors	10.943	13.253	10.762
	Cash & Bank Balances	0..813	0.965	1.025
	Other Current Assets	0.000	0.000	0.456
	Loans & Advances	2.348	1.799	0.000
Total Current Assets		26.066	23.356	17.269
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.168	0.793	2.657
	Other Current Liabilities	0.375	3.803	3.008
	Provisions	1.060	1.601	0.359
Total Current Liabilities		11.603	6.197	6.024
Net Current Assets		14.463	17.159	11.245
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		17.151	18.815	13.158

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales	191.968	135.420
		Credit Notes Received	15.858	0.000
		Profit on Sale of Cars	0.026	0.184
		Income from Commission/Gifts/Incentives	0.103	0.116
		TOTAL (A)	207.955	135.720	110.210
Less	EXPENSES
		Purchases	195.780	125.956
		Increase/Decrease in stock	(4.623)	(2.313)
		Administration Expenses	7.147	5.173
		Marketing Expenses	4.701	3.236
		TOTAL (B)	203.005	132.052	109.533 (Including Financial and Depreciation Expenses
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4.950	3.668
Less	FINANCIAL EXPENSES (D)		2.884	2.038
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.066	1.630
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.619	0.480
	PROFIT BEFORE TAX (E-F) (G)		1.447	1.150	0.677
Less	TAX (I)		0.458	0.450	0.328
	PROFIT AFTER TAX (G-I) (J)		0.989	0.700	0.349
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.492	0.791	0.000
	BALANCE CARRIED TO THE B/S		2.481	1.491	0.000
	Earnings Per Share (Rs.)		98.93	70	34.89

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.47	0.51	0.31
Net Profit Margin (PBT/Sales)	(%)	0.69	0.84	-
Return on Total Assets (PBT/Total Assets}	(%)	5.05	4.61	3.55
Return on Investment (ROI) (PBT/Networth)		0.50	0.61	0.43
Debt Equity Ratio (Total Liability/Networth)		9.08	12.43	11.36
Current Ratio (Current Asset/Current Liability)		2.24	3.76	2.86

LOCAL AGENCY FURTHER INFORMATION

Operating Results:

This was the seventh year of the company and its operations during the financial year were for twelve months. The company achieved tremendous growth in sales and made good profits. The over all performance of the company is satisfactory and improving rapidly. The Company was able to generate new markets for its products.

Bankers Charges Report as per Registry

Name of the company	SINGH SONS DISTRIBUTORS PRIVATE LIMITED
Presented By	Harpreet Singh, Director
1) Date and description of instrument creating the change	10.03.2005 Hypothecation of Agreement of al types of stocks of the company to secure credit facility.
2) Amount secured by the charge/amount owing on the securities of charge	Rs.1.500 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	Hypothecation of all stocks of TV, Refrigerator, Air Conditioners, Mobile, Washing Machines, etc. lying at Godown of the company at Plot No.29, Sector – 3, Parwanoo, District, Solan, India
4) Gist of the terms and conditions and extent and operation of the charge.	Rate of Interest 12.25% p.a. Repayable in 18 months, in case default additional Interest @ 2% p.a.
5) Name and Address and description of the person entitled to the charge.	Vijaya Bank, Sector-11, Panchkula-134109, Haryana, India
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

This form is for	Creation of charge
Corporate identity number of the company	U51395CH2003PTC026369
Name of the company	SINGH SONS DISTRIBUTORS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	64, Sector 18-A, Chandigarh -160019, Uttaranchal, India
Type of charge	Any interest in immovable property Movable property (not being pledge)
Number of charge holder (s)	1
Particular of charge holder	Vijaya Bank, Sector – 11, Panchkula-134109, Haryana, India
Email	mk_dattachd@yahoo.com
Nature of description of the instrument creating or modifying the charge	Hypothecation agreement
Date of instrument Creating the charge	07.12.2009
Amount secured by the charge	Rs.0.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 11.25 % per annum Terms of Repayment Repayable in 24 EMI'S of Rs.0.023 Million. Margin 25% Extent and Operation of the charge 100%
Short particulars of the property charged	Hypothecation of Car Hyundai I 20 Asta

Corporate identity number of the company	U51395CH2003PTC026369
Name of the company	SINGH SONS DISTRIBUTORS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	64, Sector 18-A, Chandigarh -160019, Uttaranchal, India
Email Id:	Fca.aggarwal@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90309689
Type of charge	Book debts Others
Particular of charge holder	Vijaya Bank, Sector – 11, Panchkula-134109, Haryana, India
Email	Parikshit_3238@yahoo.com
Nature of description of the instrument creating or modifying the charge	Supplementary Agreement
Date of instrument Creating the charge	07.12.2010
Amount secured by the charge	Rs.15.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 14 % per annum Terms of Repayment Repayable on Demand. Margin 25% stock 40% on Book Debts Extent and Operation of the charge 100%
Short particulars of the property charged	Hypothecation of stock of consumer electronics and home appliances. Hypothecation of Book debts not older than 90 days.
Date of last modification prior to the present modification	29.03.2008
Particular of the present modification	Cash credit limit has been enhanced from Rs.8.000 Millions to Rs.15.000 Millions.

Fixed Assets:

• Car
• Computer
• Furniture and Fixture
• Car – Indicia
• Maruti Van
• Scooter
• Scorpio Car
• Aqua Guard
• Motor Cycle
• 3-Wheeler Piagio
• Swift Car
• Innova Car

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.45.08
UK Pound	1	Rs.73.34
Euro	1	Rs.64.30

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	NO
--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.