1. Summary Information

		Country	India
Company Name	SYNERGY LIFESTYLES PRIVATE LIMITED	Principal Name 1	Sunita Col. Shambhunarain Namjoshi
		Principal Name 2	Mr. Samit Kirit Shah
Our Reference #	160375	Registration #	11-130615
Street Address	Synergy House, 130 dinshaw Petit Lane, Beshing Digvijay Mills, Kalachowki,   Mumbai – 400033, Maharashtra, India
Established Date	25.01.2001	SIC Code	--
Telephone#	91-22-24706497	Business Style 1	Manufacturer
Fax #	91-22-24701717	Business Style 2	exporter
Homepage	--	Product Name 1	Fabrics
# of employees	Not Available	Product Name 2	Furnishing Products
Paid up capital	Rs. 1,375,000/-	Product Name 3	--
Shareholders	Directors or relatives of Directors (83%) Other top fifty shareholders (17%)	Banking	The Saraswat Co-operative Bank Limited
Public Limited Corp.	NO	Business Period	11 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (30)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	39,085,000	Current Liabilities	21,823,000
Inventories	35,721,000	Long-term Liabilities	124,991,000
Fixed Assets	122,188,000	Other Liabilities	14,272,000
Deferred Assets	000	Total Liabilities	161,086,000
Invest& other Assets	5,025,000	Retained Earnings	39,558,000
		Net Worth	40,933,000
Total Assets	202,019,000	Total Liab. & Equity	202,019,000
Total Assets (Previous Year)	211528000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	287,621,000	Net Profit	(48,403,000)
Sales(Previous yr)	337,430,000	Net Profit(Prev.yr)	2,651,000

MIRA INFORM REPORT

Report Date :

19.11.2011

IDENTIFICATION DETAILS

Name :	SYNERGY LIFESTYLES PRIVATE LIMITED
Registered Office :	Synergy House, 130 dinshaw Petit Lane, Beshing Digvijay Mills, Kalachowki,   Mumbai – 400033, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	25.01.2001
Com. Reg. No.:	11-130615
Capital Investment/ Paid-up Capital:	Rs. 1.375 Millions
CIN No.: [Company Identification No.]	U17299MH2001PTC130615
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and exporter of Fabrics and Furnishing Products.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 160000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has incurred some losses in the current year. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautons.

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/ Corporate Office:	Synergy House, 130 dinshaw Petit Lane, Beshing Digvijay Mills, Kalachowki,   Mumbai – 400033, Maharashtra, India
Tel. No.:	91-22-24706497
Fax No.:	91-22-24701717
E-Mail :	synergy@synergyhome.com motilal.bhavnani@synergyhome.com contact@synergyhome.com
Production Centres 1:	111-B, 8th A Main, 1st Phase, Bommansandra Industrial Area, Hebbagodi, Bangalore - 560099, India
Production Centres 2:	S.F No. 735, 738/ 4, Andan Kovil West Village, Mochakottampalayam, Covai Road, Karur – 639002, Tamilnadu, India
Showroom:	D -26, Sector – 3, Noida – 201301, Uttar Pradesh, India
Tel No:	91-120-4229934
Email:	synergy.del@gmail.com

DIRECTORS

As on 27.09.2010

Name :	Sunita Col. Shambhunarain Namjoshi
Designation :	Managing Director
Address :	21 Neelkanth Apartments, 62 Worli Hills Estate, Worli, Mumbai – 400018, Maharashtra, India
Date of Birth/Age :	18.09.1953
Date of Appointment :	25.01.2001
DIN NO:	00003458

Other Directorship:

.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	U51311MH1992PTC064726	Malhar Exports Private Limited	Director	25/02/1994	25/02/1994	-	Active	NO
2	U18101MH1999PTC122882	Yamini Interiors Private Limited	Director	2/12/1999	2/12/1999	-	Active	NO
3	U17299MH2001PTC130615	Synergy Lifestyles Private Limited	Managing director	8/8/2009	25/01/2001	-	Active	NO
4	U70109MH2008PTC180213	Saat Rasta Properties Private Limited	Director	18/03/2008	18/03/2008	23/04/2008	Active	YES

Name :	Mr. Samit Kirit Shah
Designation :	Director
Address :	35/2 Sukhshanti Pedder Road, Mumbai – 400026, Maharashtra, India
Date of Birth/Age :	12.11.1972
Date of Appointment :	28.03.2007
DIN NO:	01370744

Name :	Mrs. Yamini Vinayak Namjoshi
Designation :	Director
Address:	21 Neelkanth Apartments, 62 Worli Hills Estate, Worli, Mumbai – 400018, Maharashtra, India
Date of Birth/Age :	10.09.1978
Date of Appointment :	28.03.2007
DIN NO:	00003472

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	U18101MH1999PTC122882	Yamini Interiors Private Limited	Director	2/12/1999	2/12/1999	-	Active	NO
2	U17299MH2001PTC130615	Synergy Lifestyles Private Limited	Director	28/03/2007	28/03/2007	-	Active	NO
3	U51311MH1992PTC064726	Malhar Exports Private Limited	Director	28/03/2007	28/03/2007	-	Active	NO
4	U70109MH2008PTC180213	Saat Rasta Properties Private Limited	Director	18/03/2008	18/03/2008	23/04/2008	Active	YES

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 27.09.2010)

Names of Shareholders	No. of Shares
Sunita Namjosahi	112750
Samit Kirit Shah	12375
Yamini Vinayak Namjoshi	12375
Total	137500

Equity Share breakup (percentage of total equity)

(AS ON 27.09.2010)

Category	Percentage
Directors or relatives of directors	83.00
Other top fifty shareholders	17.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and exporter of Fabrics and Furnishing Products.

Products :

Product Description	ITC Code
Table Mat (Other Furnishing Items)	6304.92.90
Table Cloth and Table Cover	6304.92.40
Napkin	6304.92.20

PRODUCTION STATUS 31.03.2011

Particulars	Unit	Actual Production
T Cloth	Pcs	208816
T Mat	Pcs	771518
Napkins	Pcs	638928
C Cover	Pcs	87309
Curtain	Pcs	81387
Gloves	Pcs	145269
K Towels	Pcs	328246
T Runner	Pcs	75969
Apron	Pcs	59211
Fabric - Finished	Pcs	24727
Others	Pcs	916951
Total		3338331

GENERAL INFORMATION

Bankers :

The Saraswat Co-operative Bank Limited, Sailor Building, opposite Hutatma Chowk, D N Road, Fort, Mumbai – 400001, Maharashtra, India

Facilities :

Secured Loans	31.03.2011 Rs. in Millions	31.03.2010 Rs. in Millions
Packing Credit loan from Saraswat Co-operative Bank Limited (Secured by first exclusive charge on all present and future stock and receivables and office premises at Kalachowky and personal guarantees of Directors)	29.063	28.722
Post shipment export credit from Saraswat Co-operative Bank Limited (Secured by first exclusive charge on all present and future stock and receivables and office premises at Kalachowky and personal guarantees of Directors)	12.425	10.100
Bank Overdraft in ”The Saraswat Co-operative Bank Limited (Secured against the Kalachowky Property)	10.563	17.411
Corporate loan from “The Saraswat Co-operative Bank Limited (Secured against the Kalachowky Property)	19.000	0.000
Loan from HDFC Bank Limited (Secured against the hypothecation of Tempo purchased)	0.000	0.022
Total	71.051	56.255
Unsecured Loans	31.03.2011 Rs. in Millions	31.03.2010 Rs. in Millions
From Standard Chartered Bank (Secured against Directors personal property)	27.142	28.421
Loan From Directors	26.798	0.000
Total	53.940	28.421

Banking Relations :	--
Auditors :
Name :	Patkar and pendse Chartered Accountants
Address :	9 and 204, Chartered House, 297/ 298, Dr. C.H.S. Street, Next to Queen Road Church, Mumbai – 400002, Maharashtra, India
PAN No.:	AAAFP2081Q

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs. 10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
137500	Equity Shares	Rs. 10/- each	Rs. 1.375 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		1.375	1.375	1.375
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		39.558	87.961	85.310
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		40.933	89.336	86.685
LOAN FUNDS
1] Secured Loans		71.051	56.255	46.590
2] Unsecured Loans		53.940	28.421	29.114
TOTAL BORROWING		124.991	84.676	75.704
DEFERRED TAX LIABILITIES		8.854	8.301	7.545
TOTAL		174.778	182.313	169.934
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		122.188	105.379	111.494
Capital work-in-progress		0.000	29.985	9.878
INVESTMENT		5.025	5.025	10.042
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	35.721	33.971	17.772
	Sundry Debtors	21.308	18.470	26.272
	Cash & Bank Balances	4.447	5.992	12.674
	Other Current Assets	12.418	8.213	9.060
	Loans & Advances	0.912	4.493	4.440
Total Current Assets		74.806	71.139	70.218
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	16.447	22.202	21.017
	Other Current Liabilities	5.376	3.799	5.200
	Provisions	5.418	3.214	5.481
Total Current Liabilities		27.241	29.215	31.698
Net Current Assets		47.565	41.924	38.520
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		174.778	182.313	169.934

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sale of Products	287.621	337.430	314.133
		Export Benefits other Income	17.760	24.093	26.505
		TOTAL (A)	305.381	361.523	340.638
Less	EXPENSES
		Material and Manufacturing Expenses	210.076	240.055	348.803
		Other Operating Expenses	118.509	100.326
		TOTAL (B)	328.585	340.381	348.803
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(23.204)	21.142
Less	FINANCIAL EXPENSES (D)		10.261	10.860
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(33.465)	10.282
Less/ Add	DEPRECIATION/ AMORTISATION (F)		14.384	6.875
	PROFIT BEFORE TAX (E-F) (G)		(47.849)	3.407	(8.165)
Less	TAX (H)		0.554	0.756	1.395
	PROFIT AFTER TAX (G-H) (I)		(48.403)	2.651	(9.560)
	EARNINGS IN FOREIGN CURRENCY		272.600	0.000	0.000
	Earnings Per Share (Rs.)		(352.02)	19.28	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(15.85)	0.73	(2.80)
Net Profit Margin (PBT/Sales)	(%)	(16.63)	1.00	(2.59)
Return on Total Assets (PBT/Total Assets}	(%)	(24.28)	1.93	(4.49)
Return on Investment (ROI) (PBT/Networth)		1.16	0.03	0.09
Debt Equity Ratio (Total Liability/Networth)		3.71	1.27	1.23
Current Ratio (Current Asset/Current Liability)		2.74	2.43	2.21

LOCAL AGENCY FURTHER INFORMATION

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U17299MH2001PTC130615
Name of the company	SYNERGY LIFESTYLES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Synergy House, 130 dinshaw Petit Lane, Beshing Digvijay Mills, Kalachowki,   Mumbai – 400033, Maharashtra, India
Type of charge	Book Debts Movable Property (not being pledge)
Particular of charge holder	The Saraswat Co-operative Bank Limited, Sailor Building, opposite Hutatma Chowk, D N Road, Fort, Mumbai – 400001, Maharashtra, India Email: incharge_fort@saraswatbank.com
Nature of description of the instrument creating or modifying the charge	Agreement of hypothecation of movable property.
Date of instrument Creating the charge	25.06.2008
Amount secured by the charge	Rs. 30.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Interest @10% P.A. Terms of Repayment: On demand. Margin: 25% Extent and Operation of the charge: The charge will operate to the extent of Rs. 30.000 Millions on the security offered by the company.
Short particulars of the property charged	Borrower/s doth/ do hereby hypothecate all stock and every tangible movable goods, book debts both present and future and being at the borrower’s/s place of business at Gat no 130 Dinshow Petit Lane, Kalachowkyi, Mumbai – 400033.

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.51.35
UK Pound	1	Rs.80.97
Euro	1	Rs.69.26

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
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	4
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		30

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.