MIRA INFORM REPORT

Report Date :

14.04.2012

IDENTIFICATION DETAILS

Name :	TRAVEL DESIGNER INDIA PRIVATE LIMITED
Registered Office :	405, 3^rd Eye Two, C.G. Road, Ahmedabad – 380009, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.10.2004
Com. Reg. No.:	04-044927
Capital Investment / Paid-up Capital :	Rs.0.500 Million
CIN No.: [Company Identification No.]	U63040GJ2004PTC044927
TAN No.: [Tax Deduction & Collection Account No.]	AHMT01913C
PAN No.: [Permanent Account No.]	AACCT1252C
Legal Form :	Private Limited Liability Company
Line of Business :	They provide Travelling and Tour Services.
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 17000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Payments are reported as usually correct and as per commitments. Business is active. 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.

INFORMATION PARTED BY

Name :	Mr. Tapas
Designation :	Accountant
Contact No.:	91-98250066760
Date :	13.04.2012

LOCATIONS

Registered/ Corporate Office :	405, 3^rd Eye Two, C.G. Road, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-40236000 / 26307060
Mobile No.:	91-98250066760 (Mr. Tapas)
Fax No.:	91-79-40236060 / 26302768
E-Mail :	anil.d@traveldesigner.in jaal@traveldesigner.in accounts@traveldesigner.in
Website :	http://www.traveldesigner.in
Area :	2000 Sq. ft.
Location :	Owned
Branch Office :	Located at: · Mumbai – Goregaon · Delhi – Rohini · Bangalore
Overseas Office :	Business Park BC1, Rak Free Trade Zone, PO Box 10559, Ras Al Khaimah, UAE.
Tel. No.:	971-7-2076504
E-Mail :	uae@traveldesigner.in

DIRECTORS

As on 30.09.2011

Name :	Mr. Tushar A. Jain
Designation :	Director
Address :	C-9/94, Sector – 8, Rohini, Delhi – 110085, India
Date of Birth/Age :	24.07.1981
Qualifications :	Graduate
Date of Appointment :	30.09.2009
DIN No.:	00013740
Name :	Mr. Kalpesh Chandulal Shah
Designation :	Managing Director
Address :	Bungalows No. 7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring Road, Bopal, Ahmedabad – 380058, Gujarat, India
Date of Birth/Age :	07.06.1955
Qualification :	B.Com
Date of Appointment :	20.10.2004
DIN No.:	00206113
Name :	Mr. Jaal Kalpesh Shah
Designation :	Managing Director
Address :	Bungalows No. 7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring Road, Bopal, Ahmedabad – 380058, Gujarat, India
Date of Birth/Age :	19.07.1981
Qualification :	B.Com
Date of Appointment :	20.10.2004
DIN No.:	00210866
Name :	Ms. Parul Kalpesh Shah
Designation :	Director
Address :	Bungalows No. 7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring Road, Bopal, Ahmedabad – 380058, Gujarat, India
Date of Birth/Age :	21.07.1961
Qualification :	B.Com
Date of Appointment :	01.11.2006
DIN No.:	00949398
Name :	Ms. Shailee Jaal Shah
Designation :	Director
Address :	Bungalows No. 7, Bopal 444, Next to Sun City, 200 Ft Sardar Patel, Ring Road, Bopal, Ahmedabad – 380058, Gujarat, India
Date of Birth/Age :	19.07.1981
Qualification :	B.Com
Date of Appointment :	23.11.2006
DIN No.:	00949414
Name :	Mrs. Vandana P. Parihar
Designation :	Director
Address :	C -103, Uranus Vasant, Galaxy, Bangur Nagar, Goregaon West, Mumbai - 400104, Maharashtra, India
Date of Birth/Age :	09.11.1976
Qualifications :	Graduate
Date of Appointment :	01.05.2010
DIN No.:	02763372

KEY EXECUTIVES

Name :	Mr. Tapas
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Kalpesh Shah	37500
Jaal Kalpesh Shah	12500
Total	50000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	They provide Travelling and Tour Services.
Terms :
Selling :	Cash/ Credit
Purchasing :	Cash/ Credit

GENERAL INFORMATION

Customers :

End Users

OEM’s

No. of Employees :

60 (Approximately)

Bankers :

· Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India

· Standard Chartered Bank, Mitha Galli

· Union Bank of India, Jodhpur Tekra Branch, Shivranjani Cross Road, Ahmedabad – 380015, Gujarat, India

· ICICI Bank

Facilities :

Overdraft – Rs.6.500 Millions (Union Bank of India)

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Kotak Bank Limited Term Loan (Secured against Office Building by Deposit of Title deeds and Personal Guarantee of all the Directors. (Installments due within one year Rs.0.895 Million, Previous year Rs. Nil)	4.935	0.000
Total	4.935	0.000
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Directors	0.600	4.650
From Bank – Overdraft against FDR	2.401	0.243
Total	3.001	4.893

Banking Relations :	--
Auditors :
Name :	Paresh Desai and Company Chartered Accountants
Address :	903, 9^th Floor, hemkoot Building, ashram Road, Ahmedabad –380 009, Gujarat, India
Tel. No.:	91-79-26584165
Fax No.:	91-79-26638524
PAN.:	AAJPD3599E
Related Party :	Go Banana Holidays Private Limited Address : 302, 3^rd Floor, Oynex Building, opposite LDC Bank, H.L College Road, Navrangpura, Ahmedabad – 380009, Gujarat, India Activity : Provide Traveling and Tours Services

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
95000	Equity Shares	Rs.10/- each	Rs.0.950 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares (40000 Equity shares issued as Bonus by Capitalization from Profit and Loss Appropriation A/c, Previous Year Rs. Nil)	Rs.10/- each	Rs.0.500 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		0.500	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3.852	3.038	2.312
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.352	3.138	2.412
LOAN FUNDS
1] Secured Loans		4.935	0.000	0.000
2] Unsecured Loans		3.001	4.893	3.935
TOTAL BORROWING		7.936	4.893	3.935
DEFERRED PAYMENT CREDIT		0.690	0.112	0.479
TOTAL		12.978	8.143	6.826
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.783	3.067	3.100
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		6.453	1.327	1.325
DEFERREX TAX ASSETS		0.010	0.023	0.080
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	19.504	7.537	2.579
	Cash & Bank Balances	22.650	13.087	12.437
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.535	1.471	1.911
Total Current Assets		44.689	22.095	16.927
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	42.163	16.876	13.084
	Current Liabilities	1.911	0.917	0.683
	Provisions	0.883	0.576	0.839
Total Current Liabilities		44.957	18.369	14.606
Net Current Assets		(0.268)	3.726	2.321
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		12.978	8.143	6.826

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	349.089	158.773	110.816
		Other Income
		TOTAL	349.089	158.773	110.816
Less	EXPENSES
		Office Expenses	347.562	157.795	110.527
		Administrative Expenses
		Advertising Expenses
		Financial Expenses
		Depreciation
		TOTAL	347.562	157.795	110.527
	PROFIT BEFORE TAX		1.527	0.979	0.289
Less	TAX		0.313	0.253	0.262
	PROFIT AFTER TAX		1.214	0.726	0.027
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		3.038	2.312	2.285
Less	ISSUE OF BONUS SHARES		0.400	0.000	0.000
	BALANCE CARRIED TO THE B/S		3.852	3.038	2.312
	EARNINGS IN FOREIGN CURRENCY		124.611	57.943	33.745
	IMPORTS
		Raw Materials, Stores and Capital Goods	0.000	0.556	0.041
	TOTAL IMPORTS		0.000	0.556	0.041
	Earnings Per Share (Rs.)		24.27	14.51	2.75

Particulars	31.03.2012
Sales Turnover	350.000

Expected Sales (2012-13) : Rs.380.000 Millions

The above information has been parted by Mr. Tapas.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.35	0.46	0.02
Return on Total Assets (PBT/Total Assets}	(%)	2.96	3.89	1.44
Return on Investment (ROI) (PBT/Networth)		0.35	0.31	0.12
Debt Equity Ratio (Total Liability/Networth)		12.15	7.41	7.69
Current Ratio (Current Asset/Current Liability)		0.99	1.20	1.16

LOCAL AGENCY FURTHER INFORMATION

sundry creditors details:

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sundry Creditors	42.163	16.876	13.084
Total	42.163	16.876	13.084

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	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
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	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

Note: The registered office address of the company has been shifted from 302, 3^rd Floor, Oynex Building, Opposite LDC Bank, H L Collage Road, Navrangpur, Ahmedabad – 380009, India to the present address w. e. f. 16.08.2010

Bankers Charges Report as per Registry

Corporate identity number of the company	U63040GJ2004PTC044927
Name of the company	TRAVEL DESIGNER INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	405, 3^rd Eye Two, C. G. Road, Ahmedabad – 380009, Gujarat, India Email : jaal@traveldesigner.in
This form is for	Creation of charge
Type of charge	Book Debts Movable Property
Particular of charge holder	Union Bank of India, Jodhpur Tekra Branch, Shivranjani Cross Road, Ahmedabad – 380015, Gujarat, India Email : cbsjodhpur_tekra@unionbankofindia.com
Nature of instrument creating charge	Composite Hypothecation Deed
Date of instrument Creating the charge	22.09.2011
Amount secured by the charge	Rs.14.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Letter of Guarantee : Usual S.O.D (Title Deeds) : Base Rate +4% i.e 14.75% Terms of Repayment As per Agreement Margin Letter of Guarantee : 25% Cash Margin S.O.D (Title Deed) : 200% Extent and Operation of the charge Charge operates as a First Charge on Moveable property and Book debts more particularly described in Annexure-A, herewith to secure fund based and Non Fund Based credit facilities aggregating to Rs.14.000 Millions comprising, Bank guarantee limit of Rs.11.500 Millions and S.O.D ( Title deed ) of Rs.2.500 Millions

Fixed assets

· Air Conditioner

· Aquaflo Purifier

· Motor Car Honda

· Bike Bajaj CT 100

· Kinetic Nova Scooter

· Digital Camera

· Computer Hardware

· Electric Installation

· EPABX and Telephone Instruments

· Mobile

· Safe

· Website

· Vending Machine

· Mobile

· Fax Machine

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.51.41
UK Pound	1	Rs.81.93
Euro	1	Rs.67.66

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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		43

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.