1. Summary Information

		Country	India
Company Name	SURYA BUSINESS PRIVATE LIMITED	Principal Name 1	Mr. Viresh Jain
Status	Moderate	Principal Name 2	Mr. Rajesh Jain
		Registration #	21-079266
Street Address	Mercantile Building, Block – C, 1^st Floor, 9A Lal Bazar Street, Kolkata – 700001, West Bengal
Established Date	11.04.1996	SIC Code	--
Telephone#	91-33-22102450/ 22430426	Business Style 1	Trading in Watches, Computers, etc.
Fax #	91-33-22430444	Business Style 2	-
Homepage	-	Product Name 1	-
# of employees	-	Product Name 2	-
Paid up capital	Rs.15,000,000/-	Product Name 3	-
Shareholders	Bodies corporate (15%) Directors or relatives of Directors (85%)	Banking	Citibank N. A
Public Limited Corp.	No	Business Period	15 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B (29)
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	86,216,000	Current Liabilities	42,074,000
Inventories	37,340,000	Long-term Liabilities	58,184,000
Fixed Assets	9,757,000	Other Liabilities	2,297,000
Deferred Assets	0,000	Total Liabilities	102,555,000
Invest& other Assets	1,000,000	Retained Earnings	16,758,000
		Net Worth	31,758,000
Total Assets	134,313,000	Total Liab. & Equity	134,313,000
Total Assets (Previous Year)	95,809,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	813,384,000	Net Profit	3,130,000
Sales(Previous yr)	340,346,000	Net Profit(Prev.yr)	1,119,000

MIRA INFORM REPORT

Report Date :

07.11.2011

IDENTIFICATION DETAILS

Name :	SURYA BUSINESS PRIVATE LIMITED
Registered Office :	Mercantile Building, Block – C, 1^st Floor, 9A Lal Bazar Street, Kolkata – 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	11.04.1996
Com. Reg. No.:	21-079266
Capital Investment / Paid-up Capital :	Rs.15.000 Millions
CIN No.: [Company Identification No.]	U33301WB1996PTC079266
TAN No.: [Tax Deduction & Collection Account No.]	CALS07624B
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in Watches, Electronic Items, Cellular Phones, Home Appliances, Cameras, Computers, Sun Glasses and Beverages, etc.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 120000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small business dealings at usual trade terms and conditions 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 :	Mercantile Building, Block – C, 1^st Floor, 9A Lal Bazar Street, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22102450/ 22430426
Fax No.:	91-33-22430444
E-Mail :	suryabusiness@vsnl.com admin@surya-business.com viresh@surya-business.com

DIRECTORS

As on 28.09.2010

Name :

Mr. Viresh Jain

Designation :

Director

Address :

17/1 E, Alipore Road, Kolkata, West Bengal – 700027, India.

Date of Birth/Age :

10.09.1963

Date of Appointment :

11.04.1996

Election Commission Identity Card No.:

WB/23/148/297226

DIN No. :

00123425

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U33301WB1996PTC079266	Surya Business Private Limited	Director	11/04/1996	11/04/1996	-	Active	NO
U51909AS1995PTC004378	Surya Petroleum Products Private Limited	Director	6/03/1997	6/03/1997	-	Active	NO
U29214AS1972PTC001388	Machfarm Private Limited	Managing director	14/05/2005	14/05/2005	-	Active	NO
U32204WB2005PTC105733	Surya Vistacom Private Limited	Director	30/09/2005	30/09/2005	-	Active	NO
U70101AS2005PTC007893	Luit Developers Private Limited	Director	31/07/2006	31/07/2006	-	Active	NO

Name :

Mr. Rajesh Jain

Designation :

Director

Address :

17/1 E, Alipore Road, Kolkata, West Bengal – 700027, India.

Date of Birth/Age :

19.03.1968

Date of Appointment :

01.04.1997

Election Commission Identity Card No.:

WB/23/148/297228

DIN No. :

00123471

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U33301WB1996PTC079266	Surya Business Private Limited	Director	1/04/1997	1/04/1997	-	Active	NO
U29214AS1972PTC001388	Machfarm Private Limited	Director	14/05/2005	14/05/2005	-	Active	NO
U32204WB2005PTC105733	Surya Vistacom Private Limited	Director	30/09/2005	30/09/2005	-	Active	NO

KEY EXECUTIVES

Name :	Mr. M.K. Bothra
Designation :	Partner

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2010

Names of Shareholders	No. of Shares
Viresh Jain	14000
Sangita Jain	13689
Mamta Jain	30011
Rajesh Jain	14000
Reliance Finvest Private Limited, India	5000
Viable Finance and Housing Private Limited, India	5000
Suryakanta Jain	52800
Rai Bahadur Chunilal Agencies, India	1000
Sureshot Fincon Private Limited, India	5000
Mach Farm Private Limited, India	7500
Ativardhan Jain	1000
Parinita Jain	1000
Total	150000

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2010

Category	Percentage
Bodies corporate	15.00
Directors or relatives of Directors	85.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading in Watches, Electronic Items, Cellular Phones, Home Appliances, Cameras, Computers, Sun Glasses and Beverages, etc.

Products :

PRODUCT DESCRIPTION	ITEM CODE NO.
Trading in Watches, Electronic Items, Cellular Phones, Home Appliances, Sun Glasses, Beverages and DTH etc.	91.02, 85.25, 84.15 & 84.18, 90.06, 84.71, 90.04, 22.01

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

Citibank N. A., Kanak Building, 41 Chowringhee Road, Kolkata – 700071, West Bengal, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Cash Credit/ Working Capital Demand Loan From CITI Bank (secured against hypothecation of all the present and future Current Assets, Equitable mortgage of Godown Premises and personal guarantee of Directors and relatives (including cheques over issued Rs.5.599 Millions (Previous year Rs.0.349 Millions)	45.599	50.348
Total	45.599	50.348
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From a Director	0.076	0.000
From a Shareholder	0.009	0.000
From Body Corporates	12.500	0.000
Total	12.585	0.000

Banking Relations :	--
Auditors :
Name :	K. S. Bothra and Company Chartered Accountants
Address :	9/12, Lal Bazar Street, Mercantile Building, ‘E’ Block, 1^st Floor, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22306733/ 22485534/ 22430682
Fax No.:	91-33-22102003
E-Mail :	ksbnco@ksbothraco.com
PAN.:	AADFK7294B

CAPITAL STRUCTURE

After 28.09.2010

Authorised Capital : Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.20.000 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.100/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.100/- each	Rs.15.000 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		15.000	15.000	15.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		16.758	13.628	12.508
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		31.758	28.628	27.508
LOAN FUNDS
1] Secured Loans		45.599	50.348	50.510
2] Unsecured Loans		12.585	0.000	29.142
TOTAL BORROWING		58.184	50.348	79.652
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		89.942	78.976	107.160
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		9.757	10.583	8.751
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.000	1.000	1.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	37.340	27.313	44.354
	Sundry Debtors	64.082	26.346	47.739
	Cash & Bank Balances	8.493	10.854	15.664
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	13.641	19.713	20.713
Total Current Assets		123.556	84.226	128.47
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	41.761	13.458	28.714
	Other Current Liabilities	0.313	0.291	0.175
	Provisions	2.297	3.084	2.187
Total Current Liabilities		44.371	16.833	31.076
Net Current Assets		79.185	67.393	97.394
MISCELLANEOUS EXPENSES		0.000	0.000	0.015
TOTAL		89.942	78.976	107.160

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	813.384	340.346	515.915
		Other Income	3.682	15.065	4.199
		TOTAL (A)	817.066	355.411	520.114
Less	EXPENSES
		Cost of Goods Sold	782.957	320.992	486.466
		Administrative Expenses	22.340	21.417	18.422
		TOTAL (B)	805.297	342.409	504.888
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		11.769	13.002	15.226
Less	FINANCIAL EXPENSES (D)		5.876	9.210	11.239
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.893	3.792	3.987
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.364	1.774	1.616
	PROFIT BEFORE TAX (E-F) (G)		4.529	2.018	2.371
Less	TAX (H)		1.399	0.899	1.087
	PROFIT AFTER TAX (G-H) (I)		3.130	1.119	1.284
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		8.627	7.508	6.224
	BALANCE CARRIED TO THE B/S		11.757	8.627	7.508
	Earnings Per Share (Rs.)		20.86	7.47	8.56

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.38	0.31	0.24
Net Profit Margin (PBT/Sales)	(%)	0.56	0.59	0.45
Return on Total Assets (PBT/Total Assets}	(%)	3.39	2.12	1.72
Return on Investment (ROI) (PBT/Networth)		0.14	0.07	0.08
Debt Equity Ratio (Total Liability/Networth)		3.23	2.34	1.39
Current Ratio (Current Asset/Current Liability)		2.78	5.00	4.13

LOCAL AGENCY FURTHER INFORMATION

Note : The registered address of the Company Mercantile Building, 2^nd Floor, FL 9/12 Lal Bazar Street, Kolkata – 700001, West Bengal, India has been shifted to present address with effect from 28.02.2011.

FORM 8

Corporate identity number of the company	U33301WB1996PTC079266
Name of the company	SURYA BUSINESS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Mercantile Building, Block – C, 1^st Floor, 9A Lal Bazar Street, Kolkata – 700001, West Bengal, India Email Id : admin@surya-business.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80037026
Type of charge	Book debts Others Stocks
Particular of charge holder	Citibank N. A., Kanak Building, 41 Chowringhee Road, Kolkata – 700071, West Bengal, India Email Id : roc@sdpa.in
Nature of instrument creating charge	Deed of modification for Goods Security Agreement
Date of instrument Creating the charge	25.04.2011
Amount secured by the charge	Rs.68.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanction terms and as may be decided by the bank and company mutually from time to time Terms of repayment Repayable on demand, annually renewable Margin Borrower shall at all times during the continuance of the security maintain a sufficient amount to provide the margin of security as may from time to time advised by the bank Extent and operation of the charge First exclusive charge on the current assets (including stocks and book debts) of the Borrower present and future in favour of Citibank Kolkata for repayment of all monies in respect of the credit facility, including outstanding balance and also all interest, costs, charges and expenses Others Nil
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Current assets (including stocks and book debts) of the Borrower present and future
Date of instrument modifying the charge	17.09.2007
Particulars of the present modification	By his modification the limit is enhanced from Rs.55.000 Millions to Rs.68.000 Millions and the charge is secured by first exclusive charge on the current assets (including stocks and book debts) of the Borrower present and future

FIXED ASSETS

NIL

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.49.08
UK Pound	1	Rs.78.65
Euro	1	Rs.67.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		29

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.