MIRA INFORM REPORT

Report Date :

30.11.2011

IDENTIFICATION DETAILS

Name :	CREATIVE TRAVEL PRIVATE LIMITED
Registered Office :	27-30, Creative Plaza, Nanak Puri, Moti Bagh, New Delhi-110021
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.04.1977
Com. Reg. No.:	55-008580
Capital Investment / Paid-up Capital :	Rs.2.000 Millions
CIN No.: [Company Identification No.]	U74899DL1977PTC008580
TAN No.: [Tax Deduction & Collection Account No.]	DELC00258G
PAN No.: [Permanent Account No.]	AAACC0874D
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Tour and Travels Services.
No. of Employees :	125 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 650000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having fine track. Financial position is good. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. 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.

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

INFORMATION PARTED BY

Name :	Mr. Sylvester
Designation :	Accounts Department
Contact No.:	91-9810636426
Date :	29.11.2011

LOCATIONS

Registered Office :	27-30, Creative Plaza, Nanak Puri, Moti Bagh, New Delhi-110021, India
Tel. No.:	91-11-24679192/26872257/58/59
Mobile No.:	91-9810636426 [Mr. Sylvester]
Fax No.:	91-11-26885886/26889764
E-Mail :	accounts@travel2india.com rajeevkohli@travel2india.com
Website :	http://www.travel2india.com
Area :	16000 sq. ft.
Location :	Owned
Overseas Office:	Located At: · Argentina · Brazil · Chile · France · Australia · Europe · Hanna Manuel · Mexico · Peru · Philippines · Russia · Spain and Portugal · UK · USA

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Ram Kohli

Designation :

Managing Director

Address :

House No. 693, Sector 15, Part II, Gurgaon-122001, Haryana, India

Date of Birth/Age :

23.03.1940

Date of Appointment :

21.04.1977

Din No.:

00066230

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	U74899DL1977PTC008580	CREATIVE TRAVEL PRIVATE LIMITED	Managing director	21-04-77	21-04-77	-	Active	NO
2	U74899DL1991PTC044121	CREATIVE RESORTS AND HOTELS PRIVATE LIMITED	Director	29-04-91	29-04-91	-	Active	NO
3	U74899DL1993PTC056109	CREATIVE OVERSEAS PRIVATE LIMITED	Director	18-11-93	18-11-93	25-03-10	Active	NO
4	U63090DL2009PTC187838	CT SIGNATURE TOURS PRIVATE LIMITED	Director	20-02-09	20-02-09	-	Active	NO

Name :

Mr. Deepak Kohli

Designation :

Director

Address :

House No. 693, Sector 15, Part II, Gurgaon-122001, Haryana, India

Date of Birth/Age :

11.12.1946

Date of Appointment :

21.04.1977

Din No.:

00066273

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL1977PTC008580	CREATIVE TRAVEL PRIVATE LIMITED	Director	21-04-77	21-04-77	Active	NO
2	U74899DL1991PTC044121	CREATIVE RESORTS AND HOTELS PRIVATE LIMITED	Director	29-04-91	29-04-91	Active	NO
3	U74899DL1993PTC056109	CREATIVE OVERSEAS PRIVATE LIMITED	Director	06-12-93	06-12-93	Active	NO
4	U63090DL2009PTC187838	CT SIGNATURE TOURS PRIVATE LIMITED	Director	20-02-09	20-02-09	Active	NO

Name :

Mr. Rajeev Kohli

Designation :

Whole Time Director

Address :

P-8A, Hauz Khaz Enclave, New Delhi-110016, India

Date of Birth/Age :

27.03.1969

Date of Appointment :

01.08.1994

Din No.:

00066311

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	U74899DL1991PTC044121	CREATIVE RESORTS AND HOTELS PRIVATE LIMITED	Director	29-04-91	29-04-91	-	Active	NO
2	U74899DL1993PTC056109	CREATIVE OVERSEAS PRIVATE LIMITED	Director	18-11-93	18-11-93	25-03-10	Active	NO
3	U74899DL1977PTC008580	CREATIVE TRAVEL PRIVATE LIMITED	Whole-time director	01-04-08	01-08-94	-	Active	NO
4	U63090DL2009PTC187838	CT SIGNATURE TOURS PRIVATE LIMITED	Director	20-02-09	20-02-09	-	Active	NO
5	U74140DL2009PTC193980	EXTRA MILE COMPANY INDIA PRIVATE LIMITED	Director	07-09-09	07-09-09	-	Active	NO
6	U74900DL2010PTC201849	PLAN IT MEETINGS AND CONFERENCES PRIVATE LIMITED	Director	22-04-10	22-04-10	-	Active	NO
7	U80302HR2011PTC041934	CREATIVE SCHOOL OF PROFESSIONAL DEVELOPMENT PRIVATE LIMITED	Director	20-01-11	20-01-11	-	Active	NO
8	U63000DL2011PTC225966	JUNGLE SUTRA WILDLIFE JOURNEYS PRIVATE LIMITED	Director	07-10-11	07-10-11	-	Active	NO
9	U63000DL2011PTC226262	ELEFANTASY JOURNEYS PRIVATE LIMITED	Director	13-10-11	13-10-11	-	Active	NO

Name :

Mr. Rohit Kohli

Designation :

Director

Address :

E-2/9, Second Floor, Vasant Vihar, New Delhi-110057, India

Date of Birth/Age :

26.08.1972

Date of Appointment :

01.07.1994

Din No.:

00076607

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	U74899DL1991PTC044121	CREATIVE RESORTS AND HOTELS PRIVATE LIMITED	Director	29-04-91	29-04-91	-	Active	NO
2	U74899DL1993PTC056109	CREATIVE OVERSEAS PRIVATE LIMITED	Director	26-12-93	26-12-93	25-03-10	Active	NO
3	U74899DL1977PTC008580	CREATIVE TRAVEL PRIVATE LIMITED	Whole-time director	01-04-08	01-07-94	-	Active	NO
4	U63090DL2009PTC187838	CT SIGNATURE TOURS PRIVATE LIMITED	Director	20-02-09	20-02-09	-	Active	NO
5	U74140DL2009PTC193980	EXTRA MILE COMPANY INDIA PRIVATE LIMITED	Director	07-09-09	07-09-09	-	Active	NO
6	U74900DL2010PTC201849	PLAN IT MEETINGS AND CONFERENCES PRIVATE LIMITED	Director	22-04-10	22-04-10	-	Active	NO
7	U80302HR2011PTC041934	CREATIVE SCHOOL OF PROFESSIONAL DEVELOPMENT PRIVATE LIMITED	Director	20-01-11	20-01-11	-	Active	NO
8	U63000DL2011PTC225966	JUNGLE SUTRA WILDLIFE JOURNEYS PRIVATE LIMITED	Director	07-10-11	07-10-11	-	Active	NO
9	U63000DL2011PTC226262	ELEFANTASY JOURNEYS PRIVATE LIMITED	Director	13-10-11	13-10-11	-	Active	NO

Name :

Mrs. Deepali Kohli

Designation :

Director

Address :

P-8A, Hauz Khaz Enclave, New Delhi-110016, India

Date of Birth/Age :

04.04.1971

Date of Appointment :

01.04.2006

Din No.:

00066330

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL1993PTC056109	CREATIVE OVERSEAS PRIVATE LIMITED	Director	26-12-00	26-12-00	Active	NO
2	U74899DL1977PTC008580	CREATIVE TRAVEL PRIVATE LIMITED	Director	01-04-06	01-04-06	Active	NO

Name :

Mrs. Ruchi Kohli

Designation :

Director

Address :

E-2/9, Second Floor, Vasant Vihar, New Delhi-110057, India

Date of Birth/Age :

06.07.1974

Date of Appointment :

01.04.2006

Din No.:

00924242

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL1993PTC056109	CREATIVE OVERSEAS PRIVATE LIMITED	Director	26-12-00	26-12-00	Active	NO
2	U74899DL1977PTC008580	CREATIVE TRAVEL PRIVATE LIMITED	Director	01-04-06	01-04-06	Active	NO

KEY EXECUTIVES

Name :	Mr. Sylvester
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Ram Kohli	11508
Deepak Kohli	324
Rajeev Kohli	4084
Rohit Kohli	4084
Total	20000

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Providing Tour and Travels Services.

Products :

Product Description	Item Code
Tour and Travel	520

Terms :

Selling :

Cash

Purchasing :

Cash (Depend)

GENERAL INFORMATION

Customers :

Corporate

No. of Employees :

125 [Approximately]

Bankers :

· Citi Bank N.A., 4^th Floor, Jeevan Bharti Building, 124, Connaught Circus, New Delhi-110001, India

· Yes Bank

· Standard Chartered Bank

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Loans and OD with Banks
Union Bank of India OD [Secured against fixed deposits]	72.217	52.170
Total	72.217	52.170

Banking Relations :	--
Auditors :
Name :	S Chawla and Company Chartered Accountants
Address :	718, Main Joshi Road, Karol Bagh, New Delhi-110005, India
Tel. No.:	91-11-23672323/23674545/23540505
Fax No.:	91-11-23547676
Pan No.:	AABFS5629N
Subsidiaries :	· Plan IT Meetings and Conferences Private Limited [U74900DL2010PTC201849] · Creative School of Professional Development Private Limited [U80302HR2011PTC041934]

CAPITAL STRUCTURE

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.100/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.100/- each	Rs.2.000 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		2.000	2.000	2.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		162.690	147.912	139.861
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		164.690	149.912	141.861
LOAN FUNDS
1] Secured Loans		72.217	52.170	34.879
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		72.217	52.170	34.879
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		236.907	202.082	176.740
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		45.675	39.739	46.821
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		15.588	12.609	10.709
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	60.974	29.271	46.163
	Cash & Bank Balances	122.665	144.146	113.779
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	81.532	83.818	78.214
Total Current Assets		265.171	257.235	238.156
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	41.607	14.465	9.392
	Other Current Liabilities	37.391	86.187	89.037
	Provisions	10.529	6.849	20.517
Total Current Liabilities		89.527	107.501	118.946
Net Current Assets		175.644	149.734	119.210
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		236.907	202.082	176.740

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	175.820	144.769	168.074
		Other Income
		TOTAL	175.820	144.769	168.074
Less	EXPENSES
		Office Expenses
		Administrative Expenses	150.510	129.846	119.904
		Advertising Expenses
		TOTAL	150.510	129.846	119.904
	PROFIT BEFORE TAX		25.310	14.923	48.170
Less	TAX		8.201	4.518	18.518
	PROFIT AFTER TAX		17.109	10.405	29.652
	EARNINGS IN FOREIGN CURRENCY
		Tour Arrangement	597.757	435.964	57.147
	TOTAL EARNINGS		597.757	435.964	57.147
	Earnings Per Share (Rs.)		855.45	520.25	1482.60

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	9.73	7.19	17.64
Return on Total Assets (PBT/Total Assets}	(%)	8.14	5.03	16.90
Return on Investment (ROI) (PBT/Networth)		0.15	0.10	0.34
Debt Equity Ratio (Total Liability/Networth)		0.98	1.07	1.08
Current Ratio (Current Asset/Current Liability)		2.96	2.39	2.00

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	No
12) Profitability for last three years	No
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	No
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U74899DL1977PTC008580
Name of the company	CREATIVE TRAVEL PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	27-30, Creative Plaza, Nanak Puri, Moti Bagh, New Delhi-110021, India
Type of charge	Immovable Property
Particular of charge holder	Citi Bank N.A., 4^th Floor, Jeevan Bharti Building, 124, Connaught Circus, New Delhi-110001, India
Email	citibank@citigroup.com
Nature of description of the instrument creating or modifying the charge	Loan Agreement
Date of instrument Creating the charge	11.11.2006
Amount secured by the charge	Rs.17.700 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 9% Terms of Repayment EMI For 153 Months Margin 20% Extent and Operation of the charge Till the tenure of loan
Short particulars of the property charged	Loan Agreement

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.51.93
UK Pound	1	Rs.80.62
Euro	1	Rs.69.37

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--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		52

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.