MIRA INFORM REPORT

Report Date :

16.11.2011

IDENTIFICATION DETAILS

Name :	SECOND SCHOOL LEARNING PRIVATE LIMITED
Registered Office :	4375, Sector – B, Pocket 5 and 6, Vasant Kunj, New Delhi – 110070
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.05.2010
Com. Reg. No.:	203296
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U80211DL2010PTC203296
TAN No.: [Tax Deduction & Collection Account No.]	DELS41778C
PAN No.: [Permanent Account No.]	AAOCS2935F
Legal Form :	Private Limited Liability Company
Line of Business :	They provide education to children in chise centre mostly maths and science subject.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (15)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new company and yet to establish itself gradually. Trade relations are reported as fair. Business is active. Payments are unknown. The company can be considered for business dealings 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.

INFORMATION PARTED BY (General Details)

Name :	Mr. Ciby James
Designation :	Director
Contact No.:	91-124-4309747
Date :	16.11.2011

LOCATIONS

Registered Office :	4375, Sector – B, Pocket 5 and 6, Vasant Kunj, New Delhi – 110070, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	nagendracs@gmail.com ciby.james@secondschool.in info_infotech@yahoo.co.in
Website :	http://www.secondschool.in
Location :	Owned
Corporate Office :	212, JMD Regent Square, DLF Ph 2, M G Road, Gurgaon – 122002, Delhi, India
Tel. No.:	91-124-4309747
E-Mail :	queries@secondschool.in nagendracs@gmail.com
Branch Office :	3^rd Floor, Kilfire House, Near Fun Republic, New Link Road, Andheri (West), Mumbai- 400053, Maharashtra, India

DIRECTORS

(AS ON 31.03.2011)

Name :

Mr. Ciby Cyriac James

Designation :

Director

Address :

4375, Sector – B, Pocket -5 and 6, Vasan Kunj, New Delhi – 110070, India

Date of Birth/Age :

13.02.1959

Date of Appointment :

28.05.2010

DIN No.:

03058406

Name :

Mr. Pawan Raj Kumar

Designation :

Director

Date of Appointment :

29.03.2011

DIN No.:

00529555

Other Directorship :

S.No.	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
1	U74899DL1986PTC025507	CONTINENTAL EQUIPMENT INDIA PRIVATE LIMITED	Director	30/04/1993	30/04/1993	-	Active	NO
2	U74899DL1988PTC031531	PEEKAY MACHINES Private limited	Director	24/05/1996	24/05/1996	-	Active	NO
3	U31909DL2003PTC120571	PROGRESSIVE EQUIP-WELL (INDIA) PRIVATE LIMITED	Director	27/05/2003	27/05/2003	-	Active	NO
4	U74899DL1988PTC032965	FROST LINE FOOD PRODUCTS INDIA PRIVATE LIMITED	Director	01/02/2007	01/02/2007	-	Active	NO
5	U52335DL2007PTC160335	DESMON CONTINENTAL FRIGO PRIVATE LIMITED	Managing director	18/09/2008	09/03/2007	-	Active	NO
6	U51505DL2008PTC183013	CONVOTHERM INDIA PRIVATE LIMITED	Director	08/09/2008	08/09/2008	11/08/2009	Active	NO
7	U74899DL1995PTC065342	HESS HOSPITALITY PRIVATE LIMITED	Additional director	15/06/2010	15/06/2010	-	Active	NO
8	U80211DL2010PTC203296	SECOND SCHOOL LEARNING PRIVATE LIMITED	Additional director	29/03/2011	29/03/2011	-	Active	NO
9	U51909TN2011PTC082301	PRIAPUS COMMODITIES SERVICES PRIVATE LIMITED	Director	13/09/2011	13/09/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Shareholding Pattern is not available.

BUSINESS DETAILS

Line of Business :	They provide education to children in chise centre mostly maths and science subject.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

No. of Employees :

20 (Approximately)

Bankers :

· ICICI Bank

Gurgaon, Delhi, India

Facilities :

Unsecured Loans	31.03.2011 (Rs. In Millions)
Ashish Basu	3.041
Global Solutions Limited	5.071
Pace Services Limited	5.071
Total	13.183

Banking Relations :	--
Auditors :
Name :	Dinesh Mohan and company Chartered Accountant
Address :	K-4/5, 1^st Floor, DLF Phase – 2, Gurgaon – 122002, Haryana, India
Tel No.:	91-124-4300854
Fax No.:	91-124-430853
PAN No.:	AAAFD6971F
Website :	www.charteredaccountantindia.in

CAPITAL STRUCTURE

(AS ON 15.09.2011)

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

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

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(11.680)
NETWORTH		(11.580)
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		13.183
TOTAL BORROWING		13.183
DEFERRED TAX LIABILITIES		0.047
TOTAL		1.650
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.742
Capital work-in-progress		0.000
INVESTMENT		2.036
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.070
	Cash & Bank Balances	0.054
	Other Current Assets	0.945
	Loans & Advances	0.279
Total Current Assets		1.348
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	1.166
	Other Current Liabilities	1.321
	Provisions	0.006
Total Current Liabilities		2.493
Net Current Assets		(1.145)
MISCELLANEOUS EXPENSES		0.017
TOTAL		1.650

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	0.810
		Other Income	0.154
		TOTAL (A)	0.964
Less	EXPENSES
		Development Expenses	2.986
		Personnel Expenses	3.359
		Office and Administrative Expenses	1.342
		Legal and Professional Expenses	0.438
		Sales and Marketing Expenses	2.453
		Preliminary Expenses Written off	0.004
		Audit Fees	0.025
		TOTAL (B)	10.607
Less	PROFIT /(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(9.643)
Less	FINANCIAL EXPENSES (D)		1.870
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(11.513)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.120
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		(11.633)
Less	TAX (H)		0.047
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		(11.680)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000
	BALANCE CARRIED TO THE B/S		(11.680)
	Earnings /(Loss) Per Share (Rs.)		(1168.03)

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	(1211.62)
Net Profit Margin (PBT/Sales)	(%)	(1436.17)
Return on Total Assets (PBT/Total Assets}	(%)	(556.60)
Return on Investment (ROI) (PBT/Networth)		1.00
Debt Equity Ratio (Total Liability/Networth)		(1.35)
Current Ratio (Current Asset/Current Liability)		0.54

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011 (Rs. In Millions)
Sundry Creditors	1.166

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	------
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	No
Profitability for last three years	No
Reasons for variation <> 20%	No
Estimation for coming financial year	No
Capital in the business	No
Details of sister concerns	------
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	------
Market Information	------
Litigations that the firm/ Promoters Involved in	------
Banking details	Yes
Banking Facility Details	------
Conduct of the Banking Account	------
Buyer visit details	------
Financials, if provided	No
Incorporation details is applicable	------
Last Accounts filed at ROC	------
Major Shareholders, if available	------

BACKGROUND

Subject was incorporated in India on May 28, 2010 to establish and run vocational and educational institutes. The company is a closely held company with 7500 shares being held Mr. Pawan Raj Kumar and the balance 2500 shares being held by Mr. Ciby Cyriac James.

The accompanying financial statement reflects the results of the activities undertaking by the company during the year ended March 31, 2011.

FIXED ASSETS:

· Computers

· Office Equipment

· Furniture and Fittings

· Website

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 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.50.56
UK Pound	1	Rs.80.30
Euro	1	Rs.68.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--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		15

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.