MIRA INFORM REPORT

Report Date :

19.05.2011

Note : The registered office address of the company has been shifted from 302, 3^rd Floor, Oynex Building, Opposite LDC Bank, H L Collage Road, Navrangpur, Ahmedabad – 380009, India to the present address w. e. f. 16.08.2010

IDENTIFICATION DETAILS

Name :	TRAVEL DESIGNER INDIA PRIVATE LIMITED
Registered Office :	405, 3^rd Eye Two, C.G. Road, Ahmedabad – 380009, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	20.10.2004
Com. Reg. No.:	04-44927
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U63040GJ2004PTC044927
TAN No.: [Tax Deduction & Collection Account No.]	AHMT01913C
PAN No.: [Permanent Account No.]	AACCT1252C
Legal Form :	Private Limited Liability Company
Line of Business :	Provide Traveling and Tours Services.
No. of Employees :	40 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 12550
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Payments are reported as usually correct and as per commitments. Business is active. The company can be considered normal for 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. Anil Dubey
Designation :	Accounts Manager
Contact No.:	91-9825066760
Date :	16.05.2011

LOCATIONS

Registered Office :	405, 3^rd Eye Two, C.G. Road, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-40236000 / 26307060
Fax No.:	91-79-40236060 / 26302768
E-Mail :	anil.d@traveldesigner.in jaal@traveldesigner.in accounts@traveldesigner.in
Website :	http://www.traveldesigner.in
Area :	2000 Sq. ft.
Location :	Owned
Branch Office :	Located at: · Mumbai – Goregaon · Delhi – Rohini · Bangalore
Overseas Office :	Business Park BC1, Rak Free Trade Zone, PO Box 10559, Ras Al Khaimah, UAE.
Tel. No.:	971-7-2076504
E-Mail :	uae@traveldesigner.in

DIRECTORS

As on 30.09.2010

Name :	Mr. Kalpesh Chandulal Shah
Designation :	Managing Director
Address :	Bungalows No. 7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring Road, Bopal, Ahmedabad – 380058, Gujarat, India
Date of Birth/Age :	07.06.1955
Qualification :	B.Com
Date of Appointment :	20.10.2004
DIN :	00206113
Name :	Mr. Jaal Kalpesh Shah
Designation :	Managing Director
Address :	Bungalows No. 7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring Road, Bopal, Ahmedabad – 380058, Gujarat, India
Date of Birth/Age :	19.07.1981
Qualification :	B.Com
Date of Appointment :	20.10.2004
DIN :	00210866
Name :	Ms. Parul Kalpesh Shah
Designation :	Director
Address :	Bungalows No. 7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring Road, Bopal, Ahmedabad – 380058, Gujarat, India
Date of Birth/Age :	21.07.1961
Qualification :	B.Com
Date of Appointment :	01.11.2006
DIN :	00949398
Name :	Ms. Shailee Jaal Shah
Designation :	Director
Address :	Bungalows No. 7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring Road, Bopal, Ahmedabad – 380058, Gujarat, India
Date of Birth/Age :	19.07.1981
Qualification :	B.Com
Date of Appointment :	23.11.2006
DIN :	00949414
Name :	Mr. Tushar Jain
Designation :	Director
Address :	C-9/94, Sector – 8, Rohini, Delhi – 110085, India
Date of Birth/Age :	24.07.1981
Qualifications :	Graduate
Date of Appointment :	30.09.2009
DIN :	00013740
Name :	Mrs. Vandana P. Parihar
Designation :	Director
Address :	C -103, Uranus Vasant, Galaxy, Bangur Nagar, Goregaon West, Mumbai - 400104, Maharashtra, India
Date of Birth/Age :	09.11.1976
Qualifications :	Graduate
Date of Appointment :	01.05.2010
DIN :	02763372

KEY EXECUTIVES

Name :	Mr. Anil Dubey
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Kalpesh Shah	7500
Jaal Kalpesh Shah	2500
Total	10000

As on 30.09.2010

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Provide Traveling and Tours Services.
Terms :
Selling :	Cash
Purchasing :	Cash

GENERAL INFORMATION

Customers :

• End Users
• OEM’S
• Corporate

No. of Employees :

40 [Approximately]

Bankers :

· Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India

· Standard Chartered Bank, Mitha Galli

· Union Bank of India,

Jodhpur Tekra Branch, Ahmedabad – 380015, Gujarat, India

Facilities :

Cash Credit – Rs.6.500 Millions [From Union Bank of India ]

Unsecured Loans (Rs. In Millions)	31.03.2010	31.03.2009
From Director	4.650	3.935
From Bank – Overdraft against FDR	0.243	0.000
Total	4.893	3.935

Banking Relations :

---

Auditors :

Name :

Paresh Desai and Company

Chartered Accountants

Address :

903, 9^th Floor, hemkoot Building, ashram Road, Ahmedabad –380 009, Gujarat, India

Tel. No.:

91-79-26584165

Fax No.:

91-79-26638524

Associates/Subsidiaries :

· Go Banana Holidays Private Limited

302, 3^rd Floor, Oynex Building, opposite LDC Bank, H.L College Road, Navrangpura, Ahmedabad – 380009, Gujarat, India

Activity : Provide Traveling and Tours Services

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
95,000	Equity Shares	Rs.10/- each	Rs.0.950 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs.0.100 million

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
95,000	Equity Shares	Rs.10/- each	Rs.0.950 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs.10/- each	Rs.0.500 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		3.038	2.312	2.285
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.138	2.412	2.385
LOAN FUNDS
1] Secured Loans		0.112	0.000	0.822
2] Unsecured Loans		4.893	3.935	4.131
TOTAL BORROWING		5.005	3.935	4.953
DEFERRED TAX LIABILITIES		0.000	0.479	0.000
TOTAL		8.143	6.826	7.338
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.067	3.100	3.161
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.327	1.325	1.326
DEFERREX TAX ASSETS		0.023	0.080	0.082
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	7.537	2.579	1.664
	Cash & Bank Balances	13.087	12.437	7.469
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.471	1.911	2.743
Total Current Assets		22.095	16.927	11.876
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.917	0.683	7.742
	Sundry Creditors	16.876	13.084	0.551
	Provisions	0.576	0.839	0.814
Total Current Liabilities		18.369	14.606	9.107
Net Current Assets		3.726	2.321	2.769
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8.143	6.826	7.338

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009	31.03.2008
	TURNOVER	158.773	110.816	87.750
	EXPENDITURE	157.795	110.527	86.370
	PROFIT BEFORE TAX	0.979	0.289	1.380
	PROFIT AFTER TAX	0.726	0.027	0.886
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	2.312	2.285	1.399
	BALANCE CARRIED TO THE B/S	3.038	2.312	2.285
	EARNINGS IN FOREIGN CURRENCY	57.943	33.745	0.220
	IMPORTS	0.556	0.041	0.050
	Earnings Per Share (Rs.)	72.63	2.75	--

Particulars	31.03.2011
Sales Turnover [Approximately]	200.000

Expected Sales ( 2011-2012) : Rs.250.000 millions

The above information has been parted by Mr. Anil Dubey [Accounts Manager]

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.46	0.02	1.01
Return on Total Assets (PBT/Total Assets}	(%)	3.89	1.44	9.18
Return on Investment (ROI) (PBT/Networth)		0.31	0.12	0.57
Debt Equity Ratio (Total Liability/Networth)		7.45	7.69	5.89
Current Ratio (Current Asset/Current Liability)		1.20	1.16	1.30

LOCAL AGENCY FURTHER INFORMATION

sundry creditors details:

(Rs. In Millions)

Particulars	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors	16.876	13.084	0.551

FORM 8:

Corporate identity number of the company	U63040GJ2004PTC044927
Name of the company	Travel Designer India Private Limited
Address of the registered office or of the principal place of business in India of the company	302,3rd Floor,Oynex Building Opposite, LDC Bank, H.L.College Road, Navrangpura, Ahmedabad – 380009, Gujarat, India accounts@traveldesigner.in
This form is for	Creation of charge
Type of charge	Immovable Property
Particular of charge holder	Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India
Nature of instrument creating charge	Indenture of Mortgage
Date of instrument Creating the charge	15.06.2010
Amount secured by the charge	Rs.5.200 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interests: Applicable rate 12% [Linked to KMBHFRPLR] Terms of repayment: Equated Monthly Installment (EMI) of Rs.0.075 million for 120 Months. Margin: NIL Extent and Operation of the charge: First and exclusive charge on Immovable property of company in favour of Kotak Mahindra Bank Limited as security for repayment of financial facilities granted by the Bank to the company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Off.No.405/4th flr,admg.2350 sq.ft.in the scheme known as"3rd EYE-II",admg.3083.59 sq.mtrs,situated at Mouje Chhadavad of City Tal.in the Regn.Dist.Ahmedabad.

Fixed assets

· Air Conditioner

· Aquaflo Purifier

· Motor Car Honda

· Bike Bajaj CT 100

· Kinetic Nova Scooter

· Digital Camera

· Computer Hardware

· Electric Installation

· EPABX and Telephone Instruments

· Mobile

· Safe

· Website

· Vending Machine

· Mobile

· Fax Machine

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	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		43

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.