MIRA INFORM REPORT

Report Date :

19.04.2012

IDENTIFICATION DETAILS

Name :	SWAGATAM TOURS PRIVATE LIMITED (w.e.f 26.09.2007)

Formerly Known As :	SWAGATAM TOURS LIMITED (w.e.f 06.03.2007) SWAGATAM TOURS AND TRAVELS LIMITED

Registered Office :	203, Swagatam Chamber, 23-A Shivaji Marg, Najafgarh Road, Moti Nagar, New Delhi – 110015

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	02.06.1987

Com. Reg. No.:	55-028165

Capital Investment / Paid-up Capital :	Rs.4.688 Millions

CIN No.: [Company Identification No.]	U63040DL1987PTC028165

TAN No.: [Tax Deduction & Collection Account No.]	DELS02676C

PAN No.: [Permanent Account No.]	AAACS9925P

Legal Form :	Private Limited Liability Company

Line of Business :	Inbound tours, operations and Airlines Ticketing are the main activities of the company.

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 254000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, Networth is good. 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 cautions.

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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	203, Swagatam Chamber, 23-A Shivaji Marg, Najafgarh Road, Moti Nagar, New Delhi – 110015, India
Tel. No.:	91-11-25444000/25444009
Fax No.:	91-11-25444010/25444011
E-Mail :	raju@swagatamtour.com deshraj.chauhan@sgcxervices.com sales@swagatamtour.com swagatam@vsnl.com swagatam.blr@vsnl.com swagatam.maa@vsnl.com swagatam.mumbai@vsnl.com
Website :	www.swagatam.com www.swagatamtours.com

Branch Office :	Located at: Bangalore Chennai Mumbai

DIRECTORS

As on 30.09.2011

Name :

Mr. Pronab Kumar Sarkar

Designation :

Managing director

Address :

D-281, Sushant Lok, Phase-I, Gurgaon - 122002, Haryana, India

Date of Birth/Age :

20.04.1955

Date of Appointment :

02.06.1987

DIN No.:

00903908

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	U63040DL1987PTC028165	SWAGATAM TOURS PRIVATE LIMITED	Managing director	02-06-87	02-06-87	Active	NO
2	U74899DL1995PTC068714	SWAGATAM TRAVELS PRIVATE LIMITED	Director	18-05-95	18-05-95	Active	NO
3	U55101DL1995PTC070071	SWAGATAM RESORTS AND HOTELS PRIVATE LIMITED	Director	22-06-95	22-06-95	Active	NO
4	U18109DL1992PTC047496	ADITI KNITWEAR PRIVATE LIMITED	Director	20-01-96	20-01-96	Active	NO
5	U55101UR2008PTC032614	SANTLADEVI RESORTS PRIVATE LIMITED	Director	05-05-08	05-05-08	Active	NO
6	U63000DL2009PTC195782	SURYAA TOURISM PRIVATE LIMITED	Director	06-11-09	06-11-09	Active	NO
7	U93000DL2010PTC207357	BLUEMED GLOBAL HEALTHCARE PRIVATE LIMITED	Director	20-08-10	20-08-10	Active	NO
8	U63040DL1997PTC084591	SUNSHINE TOURISM SERVICES PRIVATE LIMITED	Additional director	03-10-11	03-10-11	Active	NO

Name :

Mr. Achal kumar kochar

Designation :

Director

Address :

2/49, Rajouri Garden, New Delhi, 110027, Delhi, India

Date of Birth/Age :

08.08.1957

Date of Appointment :

01.07.1987

DIN No.:

01419400

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	U63040DL1987PTC028165	SWAGATAM TOURS PRIVATE LIMITED	Director	01-07-87	01-07-87	Active	NO
2	U74899DL1995PTC068714	SWAGATAM TRAVELS PRIVATE LIMITED	Director	18-05-95	18-05-95	Active	NO
3	U55101UR2008PTC032614	SANTLADEVI RESORTS PRIVATE LIMITED	Director	05-05-08	05-05-08	Active	NO
4	U55101DL1995PTC070071	SWAGATAM RESORTS AND HOTELS PRIVATE LIMITED	Director	01-10-08	01-10-08	Active	NO
5	U63000DL2009PTC195782	SURYAA TOURISM PRIVATE LIMITED	Director	30-09-10	19-03-10	Active	NO
6	U63040DL1997PTC084591	SUNSHINE TOURISM SERVICES PRIVATE LIMITED	Additional director	03-10-11	03-10-11	Active	NO

Name :

Mr. Mullurkara Venkataraman Hariharan

Designation :

Director

Address :

D-280, Sushant Lok, Phase-I, Gurgaon - 122002, Haryana, India

Date of Birth/Age :

12.11.1955

Date of Appointment :

02.08.1987

DIN No.:

00899221

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	U63040DL1987PTC028165	SWAGATAM TOURS PRIVATE LIMITED	Director	02-08-87	02-08-87	Active	NO
2	U55101DL1995PTC070071	SWAGATAM RESORTS AND HOTELS PRIVATE LIMITED	Director	22-06-95	22-06-95	Active	NO
3	U74899DL1995PTC068714	SWAGATAM TRAVELS PRIVATE LIMITED	Director	28-11-07	28-11-07	Active	NO
4	U55101UR2008PTC032614	SANTLADEVI RESORTS PRIVATE LIMITED	Director	05-05-08	05-05-08	Active	NO
5	U63000DL2009PTC195782	SURYAA TOURISM PRIVATE LIMITED	Director	06-11-09	06-11-09	Active	NO
6	U63040DL1997PTC084591	SUNSHINE TOURISM SERVICES PRIVATE LIMITED	Additional director	03-10-11	03-10-11	Active	NO

Name :

Mr. Ranganathan Parthiban

Designation :

Director

Address :

B-318, Sushant Lok, Phase-I, Gurgaon - 122002, Haryana, India

Date of Birth/Age :

04.02.1959

Date of Appointment :

02.06.1987

DIN No.:

00903942

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	U63040DL1987PTC028165	SWAGATAM TOURS PRIVATE LIMITED	Director	02-06-87	02-06-87	Active	NO
2	U74899DL1995PTC068714	SWAGATAM TRAVELS PRIVATE LIMITED	Director	18-05-95	18-05-95	Active	NO
3	U55101UR2008PTC032614	SANTLADEVI RESORTS PRIVATE LIMITED	Director	05-05-08	05-05-08	Active	NO
4	U55101DL1995PTC070071	SWAGATAM RESORTS AND HOTELS PRIVATE LIMITED	Director	01-10-08	01-10-08	Active	NO
5	U63000DL2009PTC195782	SURYAA TOURISM PRIVATE LIMITED	Director	30-09-10	19-03-10	Active	NO
6	U63040DL1997PTC084591	SUNSHINE TOURISM SERVICES PRIVATE LIMITED	Additional director	03-10-11	03-10-11	Active	NO

Name :

Mr. Shailendra Kumar

Designation :

Director

Address :

2/12, Anand Nagar,, Santacruz E, Mumbai, 400055, Maharashtra, India

Date of Birth/Age :

23.06.1954

Date of Appointment :

02.06.1987

DIN No.:

01470629

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	U63040DL1987PTC028165	SWAGATAM TOURS PRIVATE LIMITED	Director	02-06-87	02-06-87	Active	NO
2	U55101DL1995PTC070071	SWAGATAM RESORTS AND HOTELS PRIVATE LIMITED	Director	22-06-95	22-06-95	Active	NO
3	U74899DL1995PTC068714	SWAGATAM TRAVELS PRIVATE LIMITED	Director	28-11-07	28-11-07	Active	NO
4	U55101UR2008PTC032614	SANTLADEVI RESORTS PRIVATE LIMITED	Director	05-05-08	05-05-08	Active	NO
5	U63000DL2009PTC195782	SURYAA TOURISM PRIVATE LIMITED	Director	30-09-10	19-03-10	Active	NO
6	U63040DL1997PTC084591	SUNSHINE TOURISM SERVICES PRIVATE LIMITED	Additional director	03-10-11	03-10-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders		No. of Shares
Pronab K Sarkar		9405
M V Hariharan		9405
Ranganathan Parthiban		9190
Achal Kumar Kochar		9190
Shailendra Kumar		9190
Gouri Sarkar		100
Kala Hariharan		100
Devika Parthiban		100
Sudha Kochar		100
Aruna S. Kumar		100
Total		46880

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 :	Inbound tours, operations and Airlines Ticketing are the main activities of the company.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Vehicle Loan (Secured by hypothecation over vehicles)	6.487	5.681
Overdraft Against Bank Deposits (Secured against pledge of fixed deposits)	7.424	0.771
Total	13.911	6.452

Banking Relations :	--

Secretarial auditors:
Name :	Sharma Goel and Company Chartered Accountant
Address :	Y-59, Hauz Khas, New Delhi-110016, India
Pan No.:	AABFS1604B

Statutory auditors :
Name :	D. Verma and Associates Company Secretaries
Address :	N-226, LGF, Greater Kailash-I, New Delhi-110048, India



Group Companies:	Swagatam Resort and Hotels Private Limited Swagatam Travels Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

75000	Equity Shares	Rs.100/- each	Rs.7.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

46880	Equity Shares	Rs.100/- each	Rs.4.688 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		4.688	4.688	4.688
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		58.806	58.633	56.093
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		63.494	63.321	60.781
LOAN FUNDS
1] Secured Loans		13.911	6.452	9.214
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		13.911	6.452	9.214
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		77.405	69.773	69.995

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		29.996	33.337	39.768
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		0.004	0.004	0.004
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	34.848	40.097	40.582
	Cash & Bank Balances	59.490	50.226	47.284
	Other Current Assets	1.008	1.694	1.672
	Loans & Advances	24.478	17.450	13.920
Total Current Assets		119.824	109.467	103.458
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	49.385	51.772	49.485
	Other Current Liabilities	18.024	16.253	13.643
	Provisions	5.010	5.010	10.107
Total Current Liabilities		72.419	73.035	73.235
Net Current Assets		47.405	36.432	30.223

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		77.405	69.773	66.995

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	83.564	84.102	106.894
		Other Income
		TOTAL	83.564	84.102	106.894

Less	EXPENSES
		Office Expenses	83.392	80.731	95.059
		Administrative Expenses
		Advertising Expenses
		TOTAL	83.392	80.731	95.059

	PROFIT BEFORE TAX		0.172	3.371	11.835

Less	TAX		0.000	0.831	5.427

	PROFIT AFTER TAX		0.172	2.540	6.408

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		19.079	16.539	16.064

	Prior Period Tax Adjustments		0.000	0.000	0.153

Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	1.100
		Dividend	0.000	0.000	4.000
		Tax on Dividend	0.000	0.000	0.680
	BALANCE CARRIED TO THE B/S		19.251	19.079	16.539

	EARNINGS IN FOREIGN CURRENCY		351.255	336.051	436.307

	Earnings Per Share (Rs.)		3.67	54.19	136.68

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.21	3.02	5.99

Return on Total Assets (PBT/Total Assets}	(%)	0.11	1.78	4.47

Return on Investment (ROI) (PBT/Networth)		0.00	0.04	0.11

Debt Equity Ratio (Total Liability/Networth)		1.36	1.26	1.36

Current Ratio (Current Asset/Current Liability)		1.65	1.50	1.41

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	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
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	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	No
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

PERFORMANCE

The turnover of the company for the current financial Year is Rs.83.564 millions as compared to Rs.84.102 millions for the previous year. The Profit after tax for the current financial year is Rs.0.172 millions compared to previous year of Rs.2.540 millions.

Contingent Liability

Counter Guarantee given against

Bank guarantee issued by the Bank Rs.1.600 millions (Pervious Year Rs.1.600 millions)

FIXED ASSETS

Building Office
Improvement Leasehold Premises
Plant and Machinery
Computer
Furniture and Fixture
Vehicle

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.51.50
UK Pound	1	Rs.81.99
Euro	1	Rs.67.54

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	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		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.

MIRA INFORM REPORT

0.000

34.848

59.490

1.008

24.478

119.824

49.385

18.024

5.010

72.419

47.405

0.21

0.11

0.00

1.36

1.65

Unit