MIRA INFORM REPORT

Report Date :

27.08.2012

IDENTIFICATION DETAILS

Name :	FUTURE SUPPLY CHAIN SOLUTIONS LIMITED (w.e.f. 23.10.2009)
Formerly Known As :	FUTURE LOGISTIC SOLUTIONS LIMITED
Registered Office :	Knowledge House, Shyam Nagar, Jogeshwari- Vikhroli Link Road, Jogeshwari (East), Mumbai – 400060, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.03.2006
Com. Reg. No.:	11-160376
Capital Investment / Paid-up Capital :	Rs.289.630 Millions
CIN No.: [Company Identification No.]	U63030MH2006PLC160376
TAN No.: [Tax Deduction & Collection Account No.]	MUMF04586B
PAN No.: [Permanent Account No.]	AAACF9650N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing Logistic Business.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 2600000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a part of Future Group. It is an established company having satisfactory track records. Trade relations are reported to be fair. Business is active. Payments are usually correct and as per commitment. The company can be considered for normal business dealings at usual trade terms and condition.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	Knowledge House, Shyam Nagar, Jogeshwari- Vikhroli Link Road, Jogeshwari (East), Mumbai – 400060, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	ROC.info@futuregroup.in anil.bhutra@futurelogistic.com shyam.maheshwari@futurelogistic.com customerservice@futuresupplychains.com scm@futuresupplychains.com vendors@futuresupplychains.com careers@futuresupplychains.com
Website :	http://www.futuresupplychains.com
Head Office :	Bhagat House, 5A Shyam Nagar, Next to Knowledge House, Off Jogeshwari Vikroli Link Road, Jogeshwari East, Mumbai – 400060, Maharashtra, India
Tel. No.:	91-22-39569700
Fax No.:	91-22-39569701
Branch Office :	Located at · Bhiwandi, Maharashtra · Kolkata, West Bengal · Gurgaon, Haryana · Bangalore, Karnataka

DIRECTORS

As on 29.09.2011

Name :	Mr. Rakesh Gopikishan Biyani
Designation :	Director
Address :	304 Jeevan Vihar, Manav Mandir Road, Malbar Hill, Mumbai 400006, Maharashtra, India
Date of Birth/Age :	05-04-1972
Date of Appointment :	13.07.2007
DIN No.:	00005806

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L52399MH1987PLC044954	PANTALOON RETAIL (INDIA) LIMITED	Managing director	10/11/2011	27/07/1992	-	Active	NO
2	U51311RJ2002PTC017552	SUPREME TRADELINKS PRIVATE LIMITED	Director	03/03/2005	03/03/2005	31/03/2009	Active	NO
3	U70100MH2005PTC151972	ACUTE REALTY PRIVATE LIMITED	Director	15/03/2005	15/03/2005	18/06/2012	Active	NO
4	U52190MH2006PLC160377	GJ FREEDOM FASHIONS LIMITED	Director	08/03/2006	08/03/2006	30/01/2008	Active	NO
5	U74999MH2007PTC166866	STAPLES FUTURE OFFICE PRODUCTS PRIVATE LIMITED	Director	09/01/2007	09/01/2007	01/08/2007	Active	NO
6	U63030MH2006PLC160376	FUTURE SUPPLY CHAIN SOLUTIONS LIMITED	Director	30/11/2007	13/07/2007	-	Active	NO
7	U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	Director	22/12/2008	22/12/2007	-	Active	NO
8	U74999MH2007PLC167122	FUTURE KNOWLEDGE SERVICES LIMITED	Director	30/09/2008	31/01/2008	-	Active	NO
9	U85110MH1998PLC226134	INDUS-LEAGUE CLOTHING LIMITED	Director	04/09/2008	23/04/2008	-	Active	NO
10	U74994MH2008PLC181891	CELIO FUTURE FASHION LIMITED	Director	05/05/2008	05/05/2008	-	Active	NO
11	U52110MH2006PLC159581	FUTURE AXIOM TELECOM LIMITED	Director	30/09/2008	15/05/2008	-	Active	NO
12	U17219WB1992PLC056339	TURTLE LIMITED	Director	05/08/2009	01/12/2008	-	Active	NO
13	U51900MH2006PLC159197	FUTUREBAZAAR INDIA LIMITED	Director	30/09/2010	21/10/2009	-	Active	NO
14	U52399MH2007PLC171178	FUTURE E-COMMERCE INFRASTRUCTURE LIMITED	Director	30/09/2010	24/12/2009	20/10/2010	Active	NO
15	U51109MH2010PTC207312	SAACHI MULTITRADING PRIVATE LIMITED	Director	22/08/2011	14/09/2010	-	Converted to LLP and dissolved	NO
16	U45400MH2010PTC207216	UCCHAL INFRASTRUCTURE PRIVATE LIMITED	Director	22/08/2011	14/09/2010	-	Active	NO
17	U51109MH2010PTC207247	RADHA MULTITRADING PRIVATE LIMITED	Director	22/08/2011	14/09/2010	-	Converted to LLP and dissolved	NO
18	U19200DL2010PLC206824	CLARKS FUTURE FOOTWEAR LIMITED	Director	05/08/2011	29/09/2010	-	Active	NO
19	U93000MH2011PTC218630	MANCHESTER SPORTS ACADEMY PRIVATE LIMITED	Director	14/06/2011	14/06/2011	-	Active	NO
20	U85191MH2011NPL222989	RETAILERS ASSOCIATION'S SKILL COUNCIL OF INDIA	Director	13/10/2011	13/10/2011	-	Active	NO
21	U52100MH2007PLC171524	FUTURE VALUE RETAIL LIMITED.	Additional director	10/02/2012	10/02/2012	-	Active	NO
22	U72900MH2007PLC174787	NUFUTURE DIGITAL (INDIA) LIMITED	Additional director	27/03/2012	27/03/2012	-	Active	NO
23	U93090MH2012PTC234400	PLUGGERS SPORTS LIFESTYLE PRIVATE LIMITED	Director	13/08/2012	13/08/2012	-	Active	NO
24	AAA-6346	SAACHI MULTITRADING LLP	Designated Partner	23/09/2011	23/09/2011	-	Active	NO
25	AAA-6387	RADHA MULTITRADING LLP	Designated Partner	27/09/2011	27/09/2011	-	Active	NO
26	AAA-6891	BIYANI CAPITAL RESOURCES LLP	Designated Partner	15/11/2011	15/11/2011	-	Active	NO
27	AAA-6892	GSR CAPITAL RESOURCES LLP	Designated Partner	15/11/2011	15/11/2011	-	Active	NO

Name :	Mr. Vivek Biyani
Designation :	Director
Address :	305 Jeevan Vihar, Manav Mandir Road, Malbar Hill, Mumbai 400006, Maharashtra, India
Date of Birth/Age :	26-04-1985
Date of Appointment :	01.06.2008
DIN No.:	01977838

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U52330MH2004PLC148956	HOME SOLUTIONS RETAIL (INDIA) LIMITED	Director	01/09/2010	28/01/2008	10/06/2011	Active	NO
2	U70102MH2006PTC161884	RIDDHI SIDDHI MALL MANAGEMENT PRIVATE LIMITED	Director	30/09/2008	31/01/2008	04/06/2012	Active	NO
3	U70102MH2006PTC161883	ISHBHOOMI MALL MANAGEMENT PRIVATE LIMITED	Director	30/09/2008	31/01/2008	25/05/2011	Active	NO
4	U74999MH2007PTC167999	AMAN SYNTEX PRIVATE LIMITED	Director	19/08/2008	31/01/2008	27/02/2010	Active	NO
5	U93090MH2007PTC168048	HOLII ACCESSORIES PRIVATE LIMITED	Director	21/08/2008	31/01/2008	30/04/2009	Active	NO
6	U45200MH2007PTC168052	VAYUPUTRA REALTY PRIVATE LIMITED	Director	31/01/2008	31/01/2008	01/02/2008	Active	NO
7	U70200MH2007PTC168047	MAHABAL REALTY PRIVATE LIMITED	Director	23/09/2011	31/01/2008	-	Active	NO
8	U70200MH2007PTC170246	VISHNU MALL MANAGEMENT PRIVATE LIMITED	Director	23/10/2008	31/01/2008	-	Active	NO
9	U70102MH2006PTC161885	HARMONY MALLS MANAGEMENT PRIVATE LIMITED	Director	30/09/2008	31/01/2008	-	Active	NO
10	U74999MH2007PLC167122	FUTURE KNOWLEDGE SERVICES LIMITED	Director	30/09/2008	31/01/2008	-	Active	NO
11	U51900MH2007PLC174027	FUTURE CONSUMER PRODUCTS LIMITED	Director	10/09/2008	31/01/2008	-	Active	NO
12	U45200MH2007PTC168069	FESTIVE REALTY PRIVATE LIMITED	Director	21/08/2008	31/01/2008	-	Active	NO
13	U45200MH2007PTC168000	KUBER MALL MANAGEMENT PRIVATE LIMITED	Director	19/08/2008	31/01/2008	-	Active	NO
14	U70102MH2007PTC167996	KESARI REALTY PRIVATE LIMITED	Director	19/08/2008	31/01/2008	-	Active	NO
15	U70100MH2005PTC156869	BANSI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	30/09/2008	01/03/2008	01/07/2009	Active	NO
16	U70100MH2005PTC155104	UNIQUE MALLS PRIVATE LIMITED	Director	30/09/2008	15/03/2008	27/06/2012	Active	NO
17	U70100MH2005PTC153677	ANCHOR RESIDENCY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	-	Active	NO
18	U70100MH2004PTC148033	NISHTA MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	-	Active	NO
19	U45200MH2004PLC146312	KB MALL MANAGEMENT COMPANY LIMITED	Director	30/09/2008	15/03/2008	-	Active	NO
20	U70100MH2004PTC148032	BARTRAYA MALL DEVELOPMENT COMPANY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	-	Active	NO
21	U70100MH2005PTC151972	ACUTE REALTY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	03/07/2012	Active	NO
22	U70102MH2006PTC161887	OJAS MALL MANAGEMENT PRIVATE LIMITED	Director	30/09/2008	31/03/2008	-	Active	NO
23	U17100MH2004PTC143809	DHANSHREE FASHIONS PRIVATE LIMITED	Director	30/09/2010	21/05/2008	-	Active	NO
24	U74900MH2008PLC179447	FUTURE COUPONS LIMITED	Director	20/08/2009	26/05/2008	-	Active	NO
25	U63030MH2006PLC160376	FUTURE SUPPLY CHAIN SOLUTIONS LIMITED	Director	29/09/2008	01/06/2008	-	Active	NO
26	U52100MH2007PTC167268	PAIRS RETAIL INDIA PRIVATE LIMITED	Director	26/07/2008	25/06/2008	04/01/2010	Active	NO
27	U52599MH2007PLC166906	ASIAN RETAIL LIGHTING LIMITED	Director	26/07/2008	25/06/2008	-	Active	NO
28	U51109WB2006PTC109359	KAMASKHYA TRACOM PVT LTD	Nominee director	07/07/2008	07/07/2008	16/09/2010	Active	NO
29	U52399MH2007PLC171178	FUTURE E-COMMERCE INFRASTRUCTURE LIMITED	Director	26/09/2011	20/10/2010	-	Active	NO
30	U52100MH2007PLC171524	FUTURE VALUE RETAIL LIMITED.	Director	23/09/2011	06/01/2011	-	Active	NO
31	U74900MH1996PLC097943	FUTURE CORPORATE RESOURCES LIMITED	Whole-time director	10/02/2011	10/02/2011	-	Amalgamated	NO
32	U51100MH2005PLC156856	FUTURE CORPORATE RESOURCES LIMITED	Whole-time director	09/08/2011	21/07/2011	-	Active	NO
33	U55101MH2007PTC172953	FUTURE HOSPITALITY PRIVATE LIMITED	Director	29/09/2011	29/09/2011	-	Active	NO
34	U70100MH2005PTC156874	UTSAV MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	13/03/2012	13/03/2012	-	Active	NO
35	U72900MH2007PLC174787	NUFUTURE DIGITAL (INDIA) LIMITED	Additional director	27/03/2012	27/03/2012	-	Active	NO

Name :	Mr. Chandra Prakash Toshniwal
Designation :	Director
Address :	A-603, ‘Kanishk’, Great Eastern Link, Ram Mandir Road, Goregaon (West), Mumbai 400104, Maharashtra, India
Date of Birth/Age :	29-09-1966
Date of Appointment :	08.03.2006
DIN No.:	00036303

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U72100MH1999PLC120600	PRTL ENTERPRISES LIMITED	Director	22/08/2000	22/08/2000	02/08/2008	Active	NO
2	U55101MH2005PLC151089	PAN INDIA RESTAURANTS LIMITED	Director	07/02/2005	07/02/2005	-	Amalgamated	NO
3	U74995MH2005PLC151073	IDIOM DESIGN AND CONSULTING LIMITED	Director	07/02/2005	07/02/2005	30/03/2008	Active	NO
4	U70100MH2005PTC153677	ANCHOR RESIDENCY PRIVATE LIMITED	Director	01/06/2005	01/06/2005	-	Active	NO
5	U70101MH2005PTC153688	NAMAN MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	02/06/2005	02/06/2005	01/09/2010	Active	NO
6	U45200GJ2005PTC046351	GULMOHAR PARK MALL PRIVATE LIMITED	Director	11/07/2005	11/07/2005	01/09/2010	Active	NO
7	U70100MH2005PTC155102	SRISHTI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	03/08/2005	03/08/2005	27/02/2012	Active	NO
8	U70100MH2005PTC155104	UNIQUE MALLS PRIVATE LIMITED	Director	03/08/2005	03/08/2005	27/06/2012	Active	NO
9	U70100MH2005PTC155196	BLB MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	08/08/2005	08/08/2005	15/04/2009	Active	NO
10	U45200MH2005PTC156837	SUHANI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	18/10/2005	18/10/2005	-	Active	NO
11	U45200MH2005PTC156839	AVRUTI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	18/10/2005	18/10/2005	01/09/2010	Active	NO
12	U70100MH2005PTC156868	ANUSHTA MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	19/10/2005	19/10/2005	01/09/2010	Active	NO
13	U70100MH2005PTC156886	SHAGUN MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	20/10/2005	20/10/2005	14/06/2007	Active	NO
14	U70100MH2005PTC156869	BANSI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	19/11/2005	19/11/2005	27/02/2012	Active	NO
15	U51909MH1994PTC156437	MANZ RETAIL PRIVATE LIMITED (TRF.)	Director	27/12/2005	27/12/2005	27/02/2012	Active	NO
16	U51900MH2006PLC159197	FUTUREBAZAAR INDIA LIMITED	Director	23/01/2006	23/01/2006	27/02/2008	Active	NO
17	U65900MH2006PLC159526	FUTURE IDEAS COMPANY LIMITED	Director	06/02/2006	06/02/2006	27/02/2008	Active	NO
18	U52110MH2006PLC159581	FUTURE AXIOM TELECOM LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO
19	U15100MH2005PLC152599	FUTURE AGROVET LIMITED	Director	29/09/2006	10/02/2006	-	Active	NO
20	U52190MH2006PLC160377	GJ FREEDOM FASHIONS LIMITED	Director	08/03/2006	08/03/2006	30/01/2008	Active	NO
21	U74300MH2006PLC160375	FUTURE MEDIA (INDIA) LIMITED	Director	18/09/2008	08/03/2006	-	Active	NO
22	U63030MH2006PLC160376	FUTURE SUPPLY CHAIN SOLUTIONS LIMITED	Director	08/03/2006	08/03/2006	-	Active	NO
23	U52190MH2006PLC160415	MYRA MALL MANAGEMENT COMPANY LIMITED	Director	16/03/2006	16/03/2006	03/07/2007	Active	NO
24	U51909MH2005PTC151869	SPRINT ADVISORY SERVICES PRIVATE LIMITED	Director	31/08/2006	21/03/2006	-	Active	NO
25	U55209MH2006PTC161530	PAN INDIA FOOD SOLUTIONS PRIVATE LIMITED	Director	01/05/2006	01/05/2006	18/06/2009	Active	NO
26	U45200MH2005PTC157267	SHENDRA ADVISORY SERVICES PRIVATE LIMITED	Director	29/09/2006	19/05/2006	-	Active	NO
27	U18101MH2006PLC223534	LEE COOPER (INDIA) LIMITED	Director	29/08/2006	29/08/2006	30/12/2008	Active	NO
28	U45200GJ2006PTC048776	RATNABHUMI DEVELOPERS PRIVATE LIMITED	Director	25/09/2006	25/09/2006	24/04/2009	Active	NO
29	U70109WB1998PTC087521	SUN CITY PROPERTIES PRIVATE LIMITED	Director	03/10/2006	03/10/2006	-	Active	NO
30	U66030MH2006PLC165287	FUTURE GENERALI INDIA INSURANCE COMPANY LIMITED	Director	30/10/2006	30/10/2006	16/03/2007	Active	NO
31	U66010MH2006PLC165288	FUTURE GENERALI INDIA LIFE INSURANCE COMPANY LIMITED	Director	30/10/2006	30/10/2006	16/03/2007	Active	NO
32	U93090MH2006PTC165612	AIRPORT RETAIL PRIVATE LIMITED	Director	17/11/2006	17/11/2006	17/11/2008	Active	YES
33	U74999MH2006PLC165722	FUTURE BRANDS LIMITED	Director	22/11/2006	22/11/2006	-	Active	NO
34	U74999MH2007PTC166866	STAPLES FUTURE OFFICE PRODUCTS PRIVATE LIMITED	Director	09/01/2007	09/01/2007	05/11/2008	Active	NO
35	U74999MH2007PLC167122	FUTURE KNOWLEDGE SERVICES LIMITED	Director	18/01/2007	18/01/2007	-	Active	NO
36	U51909MH2006PTC164092	EDMON TRADING PRIVATE LIMITED	Director	23/01/2007	23/01/2007	01/10/2009	Active	NO
37	U52399MH2007PLC171178	FUTURE E-COMMERCE INFRASTRUCTURE LIMITED	Director	25/05/2007	25/05/2007	-	Active	NO
38	U52100MH2007PLC171524	FUTURE VALUE RETAIL LIMITED.	Director	11/06/2007	11/06/2007	-	Active	NO
39	U51900MH2007PLC171946	FUTURE MOBILE AND ACCESSORIES LIMITED	Director	23/06/2007	23/06/2007	27/02/2008	Active	NO
40	U70102MH2006PTC161886	SHREYA MALL MANAGEMENT PRIVATE LIMITED	Director	31/10/2007	05/07/2007	-	Active	NO
41	U74999MH2007PLC173727	MOBILE REPAIR SERVICE CITY INDIA LIMITED	Director	01/09/2007	01/09/2007	30/03/2008	Active	NO
42	U51900MH2007PLC174027	FUTURE CONSUMER PRODUCTS LIMITED	Director	11/09/2007	11/09/2007	-	Active	NO
43	U17291MH2007GOI195397	APOLLO DESIGN APPAREL PARKS LIMITED	Director	22/12/2008	22/12/2007	-	Active	NO
44	U51909MH2006PTC164209	CENTRAL DEPARTMENTAL STORES PRIVATE LIMITED	Director	31/01/2008	31/01/2008	-	Active	NO
45	U52100MH2008PLC179919	FUTURE CONSUMER ENTERPRISES LIMITED	Director	10/03/2008	10/03/2008	09/01/2009	Active	NO
46	L45400MH2008PLC179914	FUTURE MARKET NETWORKS LIMITED	Director	10/03/2008	10/03/2008	09/01/2009	Active	NO
47	U45201MH2008PLC179913	AGRE PROPERTIES & SERVICES LIMITED	Director	10/03/2008	10/03/2008	09/01/2009	Active	NO
48	U74999MH2008PLC181051	FUTURE LEARNING AND DEVELOPMENT LIMITED	Director	10/04/2008	10/04/2008	-	Active	NO
49	U22300MH2008PLC181041	FUTURE OUTDOOR MEDIA SOLUTIONS LIMITED	Director	10/04/2008	10/04/2008	-	Active	NO
50	U93000MH2008PTC179580	HARSH TRADING AND INVESTMENT CONSULTANTS PRIVATE LIMITED	Director	11/04/2008	11/04/2008	04/08/2011	Active	NO
51	U55100MH2000PTC128686	BLUE FOODS PRIVATE LIMITED	Additional director	21/04/2008	21/04/2008	22/04/2008	Active	NO
52	U51109WB2006PTC109359	KAMASKHYA TRACOM PVT LTD	Nominee director	07/07/2008	07/07/2008	16/09/2010	Active	NO
53	U51100MH2005PLC156856	FUTURE CORPORATE RESOURCES LIMITED	Director	09/08/2011	08/08/2011	-	Active	NO
54	U45400WB2012PTC173445	CIRCULAR DEVELOPERS PRIVATE LIMITED	Director	24/02/2012	24/02/2012	09/03/2012	Active	NO
55	AAA-4360	SSA ADVISORS LLP	Designated Partner	04/04/2011	04/04/2011	-	Active	NO

Name :	Mr. Anshuman Krishnapal Singh
Designation :	Director
Address :	A-203, Naperol Tower, R.A. Kidwani Marg, Wadala (West), Mumbai 400076, Maharashtra, India
Date of Birth/Age :	03-05-1969
Date of Appointment :	01.06.2008
DIN No.:	00012225

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51909MH2005PLC174301	FASHION GLOBAL RETAIL LIMITED	Director	30/09/2009	19/12/2006	-	Active	NO
2	U63030MH2006PLC160376	FUTURE SUPPLY CHAIN SOLUTIONS LIMITED	Director	29/09/2008	01/06/2008	-	Active	NO
3	U51109MH2008PLC189032	FSC BRAND DISTRIBUTION SERVICES LIMITED	Director	19/12/2008	19/12/2008	-	Active	NO

Name :	Mr. Rajesh Vardichand Ranavat
Designation :	Director
Address :	Flat A, 15 Floor, Tower 3, Harbourfront Landmark, 11 Wan Hoi Street, Hung Hom, Kowloon, Hong Kong
Date of Birth/Age :	31-10-1959
Date of Appointment :	28.08.2009
DIN No.:	02157122

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74140DL2008FTC179245	LF (1937) MANAGEMENT INDIA PRIVATE LIMITED	Director	09/06/2008	09/06/2008	31/07/2009	Active	NO
2	U63030MH2006PLC160376	FUTURE SUPPLY CHAIN SOLUTIONS LIMITED	Director	30/09/2010	28/08/2009	-	Active	NO
3	U70102KA2007PTC044240	SATTVA REALTORS PRIVATE LIMITED	Nominee director	19/03/2012	19/03/2012	-	Active	NO
4	U45400MH2011PTC224924	FUTURE TRADE MARKETS PRIVATE LIMITED	Nominee director	19/03/2012	19/03/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vimalkumar K Dhruve
Designation :	Secretary
Address :	EC-116, Flat No.301, Evershine City,, Vasai (East), Thane, 401208, Maharashtra, India
Date of Birth/Age :	03-08-1975
Date of Appointment :	30.03.2010
PAN No.:	AGJPD3391E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Pantaloon Retail (India) Limited Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai 400060, Maharashtra, India	27,462,956
Pantaloon Retail (India) Limited/ Kishore Biyani Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai 400060, Maharashtra, India	1
Pantaloon Retail (India) Limited/ C P Toshniwal Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai 400060, Maharashtra, India	1
Pantaloon Retail (India) Limited/ Vimal Dhruve Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai 400060, Maharashtra, India	1
Pantaloon Retail (India) Limited Jointly with Sanjay Rathi Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai 400060, Maharashtra, India	1
Pantaloon Retail (India) Limited jointly with Rajesh Kalyani Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai 400060, Maharashtra, India	1
Pantaloon Retail (India) Limited jointly with Subodh More Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai 400060, Maharashtra, India	1
Future Corporate Resources Limited Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai 400060, Maharashtra, India	500,000
Anshuman Singh/ Nidhi Singh A-203, Naperol Tower, R.A. Kidwani Marg, Wadala (West), Mumbai 400076, Maharashtra, India	1,000,000
SKC 1 Limited C/o. Abax Corporate Services Limited Level 6, One Cathedral Square, Jules Ko, Enig Street, Port Louis, Mauritius	10,175,321
Total	39,138,283

As on 29.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	26.00
Bodies corporate	71.45
Directors or relatives of Directors	2.55
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Logistic Business.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

· State Bank of India, Commercial Branch, N G N Vaidya Marg, Horniman Circle, Fort,, Mumbai - 400001, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. In Millions)	As on 31.03.2010 (Rs. In Millions)
Rupee Term Loans Banks Secured	553.833	247.924
Working Capital Loans Banks Secured	193.120	70.930
Total	746.953	318.854
Unsecured Loan	As on 31.03.2011 (Rs. In Millions)	As on 31.03.2010 (Rs. In Millions)
Fully Convertible Debentures Unsecured	500.000	500.000
Total	500.000	500.000

Banking Relations :	--
Auditors :
Name :	NGS and Company Chartered Accountants
Address :	B-46, Pravasi Industrial Estate, Vishweswar Nagar Road, Goregaon (East), Mumbai-400063, Maharashtra, India
PAN No.:	AABFS3313D
Holding Company :	· Pantaloon Retail (India) Limited CIN No.: L52399MH1987PLC044954
Subsidiary Company :	· FSC Brand Distribution Services Limited CIN No.: U51109MH2008PLC189032
Fellow Subsidiary Company :	· Future Consumer Enterprises Limited CIN No.: U52100MH2008PLC179919 · Future E-Commerce Infrastructure Limited CIN No.: U52399MH2007PLC171178 · Future Value Retail Limited. CIN No.: U52100MH2007PLC171524 · Future Agrovet Limited CIN No.: U15100MH2005PLC152599 · Future Freshfoods Limited CIN No.: U01403MH2010PLC201760

CAPITAL STRUCTURE

As on 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
4,00,00,000	Equity Shares	Rs.10/- each	Rs.400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,91,38,283	Equity Shares	Rs.10/- each	Rs.391.383 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3,50,00,000	Equity Shares	Rs.10/- each	Rs.350.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,89,63,000	Equity Shares	Rs.10/- each	Rs.289.630 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		289.630	289.630	250.000
2] Share Application Money		0.000	0.000	10.000
3] Reserves & Surplus		370.370	370.370	0.000
4] (Accumulated Losses)		(37.524)	(39.191)	(41.562)
NETWORTH		662.476	620.809	218.438
LOAN FUNDS
1] Secured Loans		746.953	318.854	370.311
2] Unsecured Loans		500.00	500.00	0.000
TOTAL BORROWING		1246.953	818.854	370.311
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1869.429	1439.663	588.749
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1200.957	863.284	731.033
Capital work-in-progress		11.105	7.486	18.849
INVESTMENT		0.500	0.500	0.500
DEFERREX TAX ASSETS		9.839	11.462	17.572
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	1018.877	766.466	602.350
	Cash & Bank Balances	76.229	114.670	11.030
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	261.391	221.079	225.172
Total Current Assets		1356.497	1102.215	838.552
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	649.635	514.309	968.459
	Other Current Liabilities	48.959	23.948	43.407
	Provisions	10.875	7.027	5.891
Total Current Liabilities		709.469	545.284	1017.757
Net Current Assets		647.028	556.931	(179.205)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1869.429	1439.663	588.749

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2918.827	1967.256	1933.131
		Other income	19.717	66.489	3.560
		TOTAL (A)	2938.544	2033.745	1936.691
Less	EXPENSES
		Manufacturing service costs	2151.714	1433.707	1834.805
		Employee related expenses	364.990	261.741
		Administrative selling other expenses	246.056	147.877
		TOTAL (B)	2762.760	1843.325	1834.805
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		175.784	190.420	101.886
Less	FINANCIAL EXPENSES (D)		51.989	43.381	24.331
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		123.795	147.039	77.555
Less/ Add	DEPRECIATION/ AMORTISATION (F)		120.505	136.822	68.327
	PROFIT BEFORE TAX (E-F) (G)		3.290	10.217	9.228
Less	TAX (H)		1.623	7.846	6.804
	PROFIT AFTER TAX (G-H) (I)		1.667	2.371	2.424
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		39.191	(41.562)	(43.986)
	BALANCE CARRIED TO THE B/S		37.524	39.191	(41.562)
	IMPORTS
		Capital Goods	NA	1.010	70.037
	TOTAL IMPORTS		NA	1.010	70.037
	Earnings Per Share (Rs.)		0.06	0.09	0.12

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.06	0.12	0.13
Net Profit Margin (PBT/Sales)	(%)	0.11	0.52	0.48
Return on Total Assets (PBT/Total Assets}	(%)	0.13	0.52	0.59
Return on Investment (ROI) (PBT/Networth)		0.00	0.02	0.04
Debt Equity Ratio (Total Liability/Networth)		2.95	2.20	6.35
Current Ratio (Current Asset/Current Liability)		1.91	2.02	0.82

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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 involved in	--
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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

CONTINGENT LIABILITY:

(Rs. In Millions)

Particulars	31.03.2010	31.03.2009
Estimated amounts of contracts remaining to be executed on capital account and not provided for, net of advances aggregate	59.831	10.093
Bank Guarantee Outstanding	2.500	0.648
Claims against company not acknowledged as debt	11.000	0.000

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U63030MH2006PLC160376
Name of the company	Future Supply Chain Solutions Limited
Address of the registered office or of the principal place of business in India of the company	Knowledge House, Shyam Nagar, Jogeshwari- Vikhroli Link Road, Jogeshwari (East), Mumbai – 400060, Maharashtra, India E-mail Id : ROC.info@futuregroup.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10111479
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	State Bank of India, Commercial Branch, N G N Vaidya Marg, Horniman Circle, Fort, Mumbai - 400001, Maharashtra, India E-mail Id : kamalax_saraf@hotmail.com
Nature of instrument creating charge	A) First supplemental agreement of hypothecation of goods and assets for increase in the overall limit. B) Letter regarding the grant of individual limits within the overall limit.
Date of instrument Creating the charge	11.05.2010
Amount secured by the charge	Rs.150.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit/WCDL : Rs.150.000 Millions at SBAR i.e 11.75% with monthly rests Terms of Repayment On demand. Margin Receivables (Cover Period 60 Days) 35% Extent and Operation of the charge Continuation of First Exclusive Charge on the entire current assets of the Company Others 1. Comprehensive insurance cover in joint names of the Bank and the Company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Entire Current Assets and moveable assets of the Company both present and future All moveable and fixed assets of the Company both present and future, wherever located.
Particulars of the present modification	The original charge has been modified from Rs.100.000 Millions to Rs.150.000 Millions.

FIXED ASSETS:

Tangible Assets

· Leasehold improvements

· Plant and Machinery

· Electrical Installation

· Computers

· Furniture and Fixtures

· Office Equipments

Intangible Assets

· Software

· Exclusive Business Rights

WEBSITE DETAILS:

PROFILE:

Subject has developed expertise in Supply Chain Management of consumer product categories such as Fashion, Food, Home and General Merchandise. The company operates from 60 strategically located hubs, servicing more than 2600 retail outlets spread across the length and breadth of the country. Its network of facilities and specialized expertise enable it to manage more than 3 million SKUs. This requires 30 distinct supply chains to be managed simultaneously, each with their own specific requirements that need customized solutions.

Internationally, most retailers handle fewer SKUs as they are in the form of pallets. In India, however, the consumer supply chain is unique as the SKUs are in pieces - resulting in very large numbers. Over the years, subject has learned the intricacies of the Indian market and has fine-tuned its systems and designed Supply Chain Solutions that are uniquely Indian.

Subject’s transportation capability enables it to implement Factory-Gate logistics involving pick-up of goods from vendors across the country, national distribution of goods, and city logistics that includes store deliveries and home deliveries. Future Supply Chains is the first organized intra-city transportation services company in India - carrying out not only B2B deliveries but also B2C deliveries in the form of thousands of home deliveries every day across the country, especially for Furniture and Consumer Durables.

PRESS RELEASE

FUTURE SUPPLY BETS BIG ON BRAND DISTRIBUTION

15TH JUNE, 2011

Future Supply Chains is betting big on its brand distribution service to modern trade. The company expects revenue of Rs 1000.000 Millions from this business segment by next year.

The company had officially launched the new business of distributing products of FMCG brands to modern trade retail stores in April this year

At present the company handles 30 brands in categories like biscuits, soaps, cosmetics and namkeens. These products are distributed to 1,500 stores of 11 retailing chains.

“We know the needs of the organised retail companies as we have been handling the distribution of FMCG products. Providing distribution service to other retail companies is a natural extension. By next year, we look forward to Rs 1000.000 Millions of revenue from this business,” said Anshuman Singh, CEO and MD of Future Supply Chains.

The company, which expects annual revenues of Rs 6000.000 Millions this year, has been increasingly providing warehousing services to companies other than those under the Future Group. Currently, 30 per cent of the revenue comes from FMCG, electronics and apparel companies. Future Supply Chains expects this to go up to 50 per cent in the coming years.

The company is also adding seven million sq ft of warehousing space in 12 logistics parks in the next four years. It will invest in technology and automation of the warehouses. These warehouses will be linked with express transportation networks and ports.

FUTURE GROUP'S LOGISTICS ARM PLANS TO RAISE RS 10000.000 MILLIONS

11TH JUNE, 2011

Future Group's logistics arm is planning to raise Rs10000.000 Millions by selling stake either through an initial public offering or private equity placements in the next 15 months. "This is a capital intensive business and we will raise funds through a combination of debt and equity," said Anshuman Singh, MD and CEO at Future Supply Chains. "It could be anything - private equity placements, IPO or even existing stakeholder Li and Fung increasing its stake. We will decide the route next year," he added.

At present, Future Supply Chain gets more than 70% of its Rs.6000.000 Millions business from servicing retail operations of its parent company. However, the company is also de-risking its business model and tapping other opportunities by adding newer clients across consumer sectors. "In the next few years, our parent company would be contributing around 30% of our total sales with the rest coming from other clients," added Singh. While a majority of their clients are in the consumer products and apparel segments, their next big focus would be auto and even retail sector. With over 60 hubs, servicing more than 2,600 retail outlets spread across the country, several consumer brands have been outsourcing their entire distribution operations to Future Supply Chain.

FUTURE SUPPLY CHAIN TO INVEST IN EIGHT DISTRIBUTION CENTRES

BANGALORE, SEPTEMBER 5:

Future Supply Chain Solutions Limited, which is the Future Group's supply chain solutions provider, plans to invest Rs 1500.000 Millions this year in expansion that includes an addition of two million sq ft of space across eight distribution centres in four cities.

Speaking to Business Line, Mr. Anshuman Singh, Managing Director and CEO, Future Supply Chains Solutions Limited, said the company plans to take the total DC space to 12 million sq ft in multiple logistics parks across nine cities in the next three years. Currently, the company has about four million sq ft of space.

Several such DCs measuring about 2,50,000 sq ft have been started and the first FMCG DC measuring 1,20,000 sq ft was opened in Mumbai in June this year. Future Supply Chains' integrated software and hardware provides online real-time visibility across all legs of the store, which helps in achieving this, said Mr. Singh.

FSCL, incorporated in 2007, is aiming to achieve zero shrinkage and a high 95-plus per cent fill rate in the apparel category for Pantaloons, Central and Big Bazaar and plans to achieve this in the food category too. The FMCG fill rate in the industry is aid to stand around 60-70 per cent. Currently, the group is serviced by the ‘brands direct to' the store.

FUTURE SUPPLY CHAIN MULLS RS.4000.000 MILLIONS EXPANSION PLAN

NEW DELHI DECEMBER 14 2010

Logistics arm of the Kishore Biyani-led Future Group, Future Supply Chain Solutions Limited (FSCSL) will invest up to Rs400 crore in next four years to fuel its expansion plans, a top company official said.

“We plan to build logistics park across the country. It will be basically a cluster of large distribution network. These hubs will receive products from vendors and then feed the other smaller warehouses across the country,” said Anshuman Singh, managing director and chief executive of FSCSL on the sidelines of a logistics summit. “For the purpose, we have earmarked an investment of Rs.4000.000 Millions over the next four years.”

It is also investing Rs.300.000 Millions in 2011-12 on developing the backend systems for the Group’s new e-commerce business. “We have some aggressive plans chalked out in the field of digital commerce. We are promoting it through many portals such as futurebazaar.com,” Singh said.

Singh believes that this format for the company—internet-based purchases —would fuel the next phase of growth.

The company also plans to generate Rs.4000.000 Millions revenue in this financial year as against Rs.2000.000 Millions in the previous fiscal.

FSCSL, which provides logistics solutions largely for personal consumption goods, is also targeting business from outside the Group to grow to 50% of revenues from the present 25%. At present, it mostly handles logistics for the Group’s nationwide retail business, which includes the nationwide food to appliances Big Bazaar hypermarket chain and fashion retail chain Pantaloons.

“We are a company set up for consumption logistics, which is for the transport of FMCG and retail products and not bulk goods. The demand in the last year has increased very rapidly and we are expanding quickly. We’re also evaluating a partnership with the auto hubs that the Railways is planning for last mile connectivity,” he said.

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] 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.55.38
UK Pound	1	Rs.87.80
Euro	1	Rs.69.48

INFORMATION DETAILS

Report Prepared by :

BSN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		42

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.