MIRA INFORM REPORT

Report Date :

30.11.2011

IDENTIFICATION DETAILS

Name :	KW CONFERENCES PRIVATE LIMITED
Registered Office :	216A/19, First Floor, Gautam Nagar, New Delhi – 110049
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.12.1994
Com. Reg. No.:	55-063385
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U74899DL1994PTC063385
Legal Form :	Private Limited Liability Company
Line of Business :	Professional Conference Organiser and Event Management Company.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 63000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct 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 DECLINED BY

Management Non Co-operative

LOCATIONS

Registered Office :	216A/19, First Floor, Gautam Nagar, New Delhi – 110049, India
Tel. No.:	91-11-41345501
Fax No.:	Not Available
E-Mail :	atulkapurassociates@gmail.com
Website :	www.kwconferences.com
Head Office :	A 56/12, DLF Phase 1, Gurgaon – 122002, Haryana, India
Tel. No.:	91-124-4636700
Fax No.:	91-124-4102075
Mumbai Office :	A/ A -1, Hermes Apartments, Bhat Lane, Poisar, Borivali (West), Mumbai – 400092, Maharashtra, India
Hyderabad Office :	1^st Floor, Trade Fair Office Building, HITEX Exhibition Centre, Madhapur, Hyderabad – 500084, Andhra Pradesh, India
Tel. No.:	91-40-23113592
Chennai Office :	No. 7, Aswini Apartments, 1^st Vanniar Street, Choolaimedu, Chennai – 600094, Tamilnadu, India
International Partner :	The Luxury Partnership Travel Trade Marketing (USA) Inc., P.O. Box 739, Frisco TX 75034
Tel No.:	+1-972-569-9898

DIRECTORS

As on 20.09.2011

Name :

Monimita Sarkar

Designation :

Chairman Cum Managing Director

Address :

T – 11/5 D.L.F. Phase III, Gurgaon, Haryana, India

Date of Birth/Age :

27.09.1961

Date of Appointment :

12.12.2003

DIN No.:

00273672

Name :

Sumitro Sarkar

Designation :

Director

Address :

T – 11/5 D.L.F. Phase III, Gurgaon, Haryana, India

Date of Birth/Age :

10.06.1949

Date of Appointment :

12.12.2003

Name :

Ms. Rashmi Hazarika

Designation :

Director

Address :

1604, Tower Number 2, Uniworld Garden, Sector 47, Shona Road, Gurgaon, Haryana, India

Date of Birth/Age :

09.01.1957

Date of Appointment :

10.06.2006

DIN No.:

00256960

Name :

Mr. Arjun Narne

Designation :

Director

Address :

Plot No. 1016A, Road No. 46, Jubilee Hills, Hyderabad, Andhra Pradesh, India

Date of Birth/Age :

06.11.1965

Date of Appointment :

10.08.2009

DIN No.:

00053680

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
U27109AP1968PTC001184	Hyderabad Tulaman Private Limited	Whole-time director	27/08/2007	27/08/2006	-	Active	NO
U74899DL1994PTC063385	KW Conferences Private Limited	Additional director	10/08/2009	10/08/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 20.09.2011

Names of Shareholders	No. of Shares
Monimita Sarkar	31673
Sumitro Sarkar	31663
Rashmi Hazarika	31664
Arjun Narne	5000
Total	100000

Equity Share Break up (Percentage of Total Equity)

As on 20.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Professional Conference Organiser and Event Management Company.

GENERAL INFORMATION

Customers :

· Informa Telecoms and Media

· International Pharmaceutical Federation

· Asian Development Bank

· Deloitte

· Euromoney Seminars

· Indian Newspaper Society

· GMR

· ABN – AMRO Bank

· ASEAN Secretariat

· Merck

· Indian Space Research Organisation

· International Pharmaceutical Federation

· Green Power Conferences

No. of Employees :

Not Available

Bankers :

· Axis Bank Limited, a/10, OPG House, Asaf Ali Road, New Delhi – 110002, India

· Canara Bank, Malviya Nagar, New Delhi, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Axis Bank – Overdraft A/C	9.902	0.006
Mahindra and Mahindra Finance (Secured against Car)	0.067	0.247
Total	9.969	0.253

Banking Relations :	--
Auditor 1 :
Name :	Atul Kapur and Associates Chartered Accountants
Address :	G – 66/2, Gautam Nagar, New Delhi – 110049, India
PAN.:	AACFA8625M
Auditor 2 :
Name :	Sanjesh Jawarani Chartered Accountants
Address :	A 13, First Floor Green Park Extension, New Delhi – 110016, India
Tel. No.:	91-11-26969159/ 26862468
Mobile No.:	91-9350820802
Fax No.:	91-11-26862468
E-Mail :	sanjeshjawarani@gmail.com
PAN.:	AACFA8625M

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

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		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		14.759	13.949	12.250
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		15.759	14.949	13.250
LOAN FUNDS
1] Secured Loans		9.969	0.253	0.403
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		9.969	0.253	0.403
DEFERRED TAX LIABILITIES		0.055	0.007	0.028
TOTAL		25.783	15.209	13.681
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.250	1.767	1.780
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	16.465	21.350	18.627
	Cash & Bank Balances	2.686	2.581	2.223
	Other Current Assets	0.000	0.000	6.381
	Loans & Advances	18.976	4.920	0.275
Total Current Assets		38.127	28.851	27.506
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.483	2.823	5.564
	Other Current Liabilities	13.057	11.691	1.152
	Provisions	1.054	0.895	8.889
Total Current Liabilities		15.594	15.409	15.605
Net Current Assets		22.533	13.442	11.901
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		25.783	15.209	13.681

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Service Charge Received	180.630	105.470	95.166
		Commission			1.916
		Other Income			0.018
		TOTAL (A)	180.630	105.470	97.100
Less	EXPENSES
		Staff Costs and Benefits	179.063	102.898	6.591
		Office Administration Expenses			7.096
		Communication Expenses			1.173
		Consultancy and Professional Charges			3.707
		Conference Expenses			66.713
		Directors Remuneration			5.768
		TOTAL (B)	179.063	102.898	91.048
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(including financial and depreciation)		6.052
Less	FINANCIAL EXPENSES (D)				0.450
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)				5.602
Less/ Add	DEPRECIATION/ AMORTISATION (F)				0.442
	PROFIT BEFORE TAX (E-F) (G)		1.567	2.572	5.160
Less	TAX (H)		0.280	0.874	2.016
	PROFIT AFTER TAX (G-H) (I)		1.287	1.698	3.144
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		13.948	12.250	9.106
	BALANCE CARRIED TO THE B/S		14.759	13.948	12.250
	Earnings Per Share (Rs.)		15.67	16.98	31.44

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.71	1.61	3.23
Net Profit Margin (PBT/Sales)	(%)	NA	NA	5.42
Return on Total Assets (PBT/Total Assets}	(%)	3.79	8.40	17.62
Return on Investment (ROI) (PBT/Networth)		0.09	0.17	0.38
Debt Equity Ratio (Total Liability/Networth)		1.62	1.05	1.21
Current Ratio (Current Asset/Current Liability)		2.44	1.87	1.76

LOCAL AGENCY FURTHER INFORMATION

Note :

The registered address of the company J – 1953, Chitranjan Park, New Delhi, India has been shifted to the present address with effect from 26.10.2010

PERFORMANCE

The total turnover at Rs.180.630 Millions (Previous Year Rs.105.470 Millions), registered a growth of 71.3%, while the Profit before tax of Rs.1.567 Millions (Previous Year Rs.2.572 Millions), was lower by 39.1% over the previous year. This is due to the lower contribution in conferences handled during the year.

FORM 8

Corporate identity number of the company	U74899DL1994PTC063385
Name of the company	KW CONFERENCES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	216A/19, First Floor, Gautam Nagar, New Delhi – 110049, India Email Id : atulkapurassociates@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10161802
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	Axis Bank Limited, 4/10, OPG House, Asaf Ali Road, New Delhi – 110002, India Email Id : f8.axisbank@gmail.com
Nature of instrument creating charge	Amendment cum Link Agreement
Date of instrument Creating the charge	20.09.2011
Amount secured by the charge	Rs.13.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Rate of Interest modified to base rate plus 500 bps p.a. and as per sanction letter No.AXISB/DEL/SMEC/2010-11/12582 dated 17.01.2011 to be amended from time to time Terms of repayment As per sanction Letter No. AXISB/DEL/SMEC/2010-11/12582 dated 17.01.2011 to be amended from time to time Margin As per sanction Letter No. AXISB/DEL/SMEC/2010-11/12582 dated 17.01.2011 to be amended from time to time Extent and operation of the charge Extent and Operation - 100%
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation by way of exclusive first charge over all present and future current assets and movable fixed assets of the company stored or to be stored at the company's godowns or premises or wherever else the same may be
Particulars of the present modification	There being no change in the credit facilities of Rs.13.000 Millions already regd. however charge is being modified due to change in rate of interest from BPLR - 275 bps p.a. to base rate plus 500 BPS p.a. and shall continued to be secured by first and exclusive charge over all present and future current assets and movable fixed assets (excluding vehicles) of the company

FIXED ASSETS

· Furniture and Fixtures

· Vehicles

· Computer

· Software

· Office Equipments

· Air Conditioner

· Cooler

· Electrical Equipment

· Stablizer

· Fax Machine

· Generator

· Water Filter Aquaguard

· Telephone Instrument

· Goodwill

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	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.