MIRA INFORM REPORT

Report Date :

21.04.2012

IDENTIFICATION DETAILS

Name :	COCOBERRY RESTAURANTS AND DISTRIBUTORS PRIVATE LIMITED (w.e.f. 14.11.2011)
Formerly Known as :	COCOBERRY RETAIL PRIVATE LIMITED
Registered Office :	32, Defence Colony, New Delhi – 110032
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.03.2010
Com. Reg. No.:	55-200792
Capital Investment / Paid-up Capital :	Rs.48.121 Millions
CIN No.: [Company Identification No.]	U55101DL2010PTC200792
TAN No.: [Tax Deduction & Collection Account No.]	DELC11513F
PAN No.: [Permanent Account No.]	AADCC9188K
Legal Form :	Private Limited Liability Company
Line of Business :	The Company is primarily engaged in the business of sale of frozen yoghurt.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 510000
Status :	New Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively new company establishing itself gradually. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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 Office :	32, Defence Colony, New Delhi – 110032, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	r.inder@indyasoft.com
Corporate Office :	112-113, Park Centra, 1^st Floor, NH8, Gurgaon – 122001, Haryana, India
E-Mail :	cocoberry.india@cocoberry.co.in
Regional Office :	747, Udyog Vihar Phase V, Gurgaon – 122016, Haryana, India
Mumbai Office :	Level 9, Platina Building, Block G, Plot C-59, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-39530715
Fax No.:	91-22-39530600

DIRECTORS

As on 24.09.2011

Name :

Mr. Raja Inder Bhalla

Designation :

Director

Address :

426/2, Forest Lane , Sainik Farms New Delhi-110068, India

Date of Birth/Age :

15.09.1973

Date of Appointment :

26.03.2010

DIN No.:

01062559

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	U72300DL2003PTC118528	MANAM DATA SERVICES PRIVATE LIMITED	Director	16/01/2003	16/01/2003	-	Active	NO
2	U72200DL2003PTC118857	HORIZON BPO PRIVATE LIMITED	Managing director	1/01/2008	7/02/2003	-	Active	NO
3	U72300DL2005PTC136805	PMG OUTSOURCE PRIVATE LIMITED	Director	27/05/2005	27/05/2005	1/10/2009	Active	NO
4	U55101DL2010PTC200792	COCOBERRY RESTAURANTS AND DISTRIBUTORS PRIVATE LIMITED	Director	26/03/2010	26/03/2010	-	Active	NO

Name :

Ms. Survina Bhalla

Designation :

Director

Address :

426/2, Forest Lane , Sainik Farms New Delhi-110068, India

Date of Birth/Age :

20.03.1946

Date of Appointment :

26.03.2010

DIN No.:

00149797

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	U72300DL2003PTC118528	MANAM DATA SERVICES PRIVATE LIMITED	Director	16/01/2003	16/01/2003	-	Active	NO
2	U72200DL2003PTC118857	HORIZON BPO PRIVATE LIMITED	Whole-time director	1/01/2008	7/02/2003	-	Active	NO
3	U72300DL2005PTC136805	PMG OUTSOURCE PRIVATE LIMITED	Director	27/05/2005	27/05/2005	-	Active	NO
4	U55101DL2010PTC200792	COCOBERRY RESTAURANTS AND DISTRIBUTORS PRIVATE LIMITED	Director	26/03/2010	26/03/2010	-	Active	NO

Name :

Guninder Bhalla

Designation :

Managing director

Address :

426/2, Forest Lane , Sainik Farms New Delhi-110068, India

Date of Birth/Age :

23.07.1972

Date of Appointment :

26.03.2010

DIN No.:

01987186

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	U72200DL2003PTC118857	HORIZON BPO PRIVATE LIMITED	Director	1/01/2008	1/01/2008	-	Active	NO
2	L24230HP2004PLC027558	JHS SVENDGAARD LABORATORIES LIMITED	Director	22/09/2009	13/08/2009	14/05/2011	Active	NO
3	U51900DL2009PTC189666	MAGNA WAVES IMPEX PRIVATE LIMITED	Additional director	19/09/2009	19/09/2009	-	Active	NO
4	U72300DL2005PTC136805	PMG OUTSOURCE PRIVATE LIMITED	Director	1/10/2009	1/10/2009	-	Active	NO
5	U55101DL2010PTC200792	COCOBERRY RESTAURANTS AND DISTRIBUTORS PRIVATE LIMITED	Managing director	26/03/2010	26/03/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2011

Names of Shareholders	No. of Shares
Raja Inder Bhalla	1203007
Survina Bhalla	2406014
Guninder Bhalla	1203007
Bennett, Coleman and Company Limited India	100
Total	4812128

As on 16.01.2012

Names of Allottees	No. of Shares
Ajay Relan	449105
Total	449105

As on 22.12.2011

Names of Allottees	No. of Equity Shares
Westchester Ventures, LLC Series B	6
Cheers Global Services Limited, Mauritius	4
Total	10

As on 22.12.2011

Names of Allottees	No. of Preference Shares
Westchester Ventures, LLC Series B	135
Cheers Global Services Limited, Mauritius	110864
Total	110999

Equity Share Break up (Percentage of Total Equity)

As on 24.09.2011

Category	Percentage
Bodies corporate	0.01
Directors or relatives of Directors	99.99
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is primarily engaged in the business of sale of frozen yoghurt.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Punjab and Sind Bank, Industrial Finance Branch, Connaught Circus, New Delhi – 110001, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)
From Banks – Term Loan	44.517
Total	44.517

Banking Relations :	--
Auditors :
Name :	K. B. Chandna and Company Chartered Accountants
Address :	32, Defence Colony, New Delhi – 110032, India
E-Mail :	chandan@vsnl.com
PAN.:	AAAFK34189J
Related Party :	Horizon BPO Private Limited

CAPITAL STRUCTURE

After 24.09.2011

Authorised Capital : Rs.205.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.200.612 Millions

As on 24.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4812128	Equity Shares	Rs.10/- each	Rs.48.121 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		48.121
2] Share Application Money		80.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.459)
NETWORTH		127.662
LOAN FUNDS
1] Secured Loans		44.517
2] Unsecured Loans		0.000
TOTAL BORROWING		44.517
DEFERRED TAX LIABILITIES		1.193
TOTAL		173.372
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		52.786
Capital work-in-progress		0.000
INVESTMENT		52.401
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	10.688
	Sundry Debtors	12.383
	Cash & Bank Balances	28.989
	Other Current Assets	12.855
	Loans & Advances	14.021
Total Current Assets		78.936
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.522
	Other Current Liabilities	6.348
	Provisions	1.362
Total Current Liabilities		14.232
Net Current Assets		64.704
MISCELLANEOUS EXPENSES		3.481
TOTAL		173.372

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	70.726
		Other Income
		TOTAL	70.726
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		4.262
Less/ Add	DEPRECIATION/ AMORTISATION		3.362
	PROFIT BEFORE TAX		0.900
Less	TAX
	PROFIT AFTER TAX		(0.458)
	BALANCE CARRIED TO THE B/S		(0.458)
	IMPORTS
		Capital Goods	1.043
	TOTAL IMPORTS		1.043
	Earnings Per Share (Rs.)		(0.10)

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	0.65
Return on Total Assets (PBT/Total Assets}	(%)	0.68
Return on Investment (ROI) (PBT/Networth)		0.01
Debt Equity Ratio (Total Liability/Networth)		0.46
Current Ratio (Current Asset/Current Liability)		5.55

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	--
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last one year	Yes
12) Profitability for last one year	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	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

FUTURE OUTLOOK

The Directors are hopeful of doing better business during the coming year, as they are looking for new avenues in the business with a view to ensure more profitability in the business.

Bankers Charges Report as per Registry

Corporate identity number of the company	U55101DL2010PTC200792
Name of the company	COCOBERRY RETAIL PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	32, Defence Colony, New Delhi-110032, India Email : r.inder@indyasoft.com
This form is for	Creation of charge
Type of charge	Movable Property
Particular of charge holder	Punjab and Sind Bank, Industrial Finance Branch, Connaught Circus, New Delhi – 110001, India Email : jagjit1548@hotmail.com
Nature of instrument creating charge	Agreement for Hypothecation of Debts and Assets Agreement form no 37/96
Date of instrument Creating the charge	31.03.2011
Amount secured by the charge	Rs.40.273 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest BR+4.05%ie 13.60%p.a. on monthly rests Terms of Repayment 45 EMI of Rs0.870 Million p.m. Margin 25% Extent and Operation of the charge Term Loan Rs.40.273 Millions/ (Taken over loan under the name of M/S Hozion Rhi) Primary Security- Hypothecation of Plant and Machinery, Hypothecation of current assets including book debts receivables both present and future
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Primary Security- Hypothecation of Plant and Machinery, Hypothecation of current assets including book debts receivables both present and future

Contingent Liabilities:

Outstanding Service Tax on Renting of Property – Rs.0.399 Million

FIXED ASSETS

· Computer Hardware

· Computer Software

· Furniture and Fixtures

· Mobiles

· Motor Vehicle

· Lease Hold Improvements

· Patents and Trademarks

· Plant and Machinery

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 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.51.99
UK Pound	1	Rs.83.54
Euro	1	Rs.68.39

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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		26

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.