MIRA INFORM REPORT

Report Date :

27.08.2012

IDENTIFICATION DETAILS

Name :	NEWLOOK RETAILS PRIVATE LIMITED N-MART RETAIL – DIVISION OF NEW LOOK RETAILS PRIVATE LIMITED (w.e.f. 29.02.2012)
Formerly Known As :	NEWLOOK MULTITRADE PRIVATE LIMITED
Registered Office :	Shop No. 6, Enkay Square Building, Plot No. 21, Sector 6, Kopar Khairane, Mumbai – 400079, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.02.2008
Com. Reg. No.:	11-178914
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U51909MH2008PTC178914
TAN No.: [Tax Deduction & Collection Account No.]	MUMN16886C
PAN No.: [Permanent Account No.]	AACCN7033M
Legal Form :	Private Limited Liability Company
Line of Business :	Subject involves in the business of real estate, commodity trading, Retail stores.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 40000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. It has recorded a better increase in its sales and profit during 2011. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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 :	Shop No. 6, Enkay Square Building, Plot No. 21, Sector 6, Kopar Khairane, Mumbai – 400079, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	legal.newlook@gmail.com info@nmart.co.in rana-salim@gmail.com mitalshah_8@yahoo.co.in
Website :	http://www.nmart.co.in
Administrative/ Corporate Office :	Dazzle Arcade, Near Tapi Restaurant, Near Gangeshwar Mahadev Temple, Honey Park road, Adajan, Surat – 395009, Gujarat, India
Tel. No.:	91-261-2630736
Area :	More than 10000 Sq. ft.

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Gopal Mohansingh Shekhawat

Designation :

Director

Address :

Madhavvilla Row House, Plot No. B-29, Gangeshwar, Adajan, Surat – 395009, Gujarat, India

Date of Birth/Age :

15.03.1966

Date of Appointment :

05.06.2008

DIN No.:

01660754

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	Company/ LLP Status	Defaulting status
1	U51909MH2008PTC178914	NEWLOOK RETAILS PRIVATE LIMITED	Director	05/06/2008	05/06/2008	Active	NO
2	U67100GJ2010PTC062572	NEW LOOK ASSETS RECONSTRUCTION PRIVATE LIMITED	Director	11/10/2010	11/10/2010	Active	NO
3	U70101GJ2011PTC063459	N MART INFRASTRUCTURE PRIVATE LIMITED	Director	02/01/2011	02/01/2011	Active	NO
4	U74900PN2011PLC138868	N MART RETAILS LIMITED	Director	15/03/2011	15/03/2011	Active	NO
5	U70100MH2012PTC226648	N MART DEVELOPERS PRIVATE LIMITED	Director	10/02/2012	10/02/2012	Active	NO
6	U63030GJ2012PTC069107	NEWLOOK LOGISTICS PRIVATE LIMITED	Director	21/02/2012	21/02/2012	Active	NO
7	U92410GJ2012NPL070815	SURAT MARATHON	Director	20/06/2012	20/06/2012	Active	NO
8	L51900MH1978PLC020601	PAREKH DISTRIBUTIORS LIMITED	Additional director	27/06/2012	27/06/2012	Active	NO

Name :

Mr. Mohammad Saleem Mohdziuddin Khan

Designation :

Director

Address :

121, 3^rd Floor Savera Complex, Udhna Road, Near Deudhna Nagar, Surat – 394210, Gujarat, India

Date of Birth/Age :

03.03.1977

Date of Appointment :

17.07.2010

DIN No.:

03167607

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	Company/ LLP Status	Defaulting status
1	U51909MH2008PTC178914	NEWLOOK RETAILS PRIVATE LIMITED	Director	17/07/2010	17/07/2010	Active	NO
2	U67100GJ2010PTC062572	NEW LOOK ASSETS RECONSTRUCTION PRIVATE LIMITED	Director	11/10/2010	11/10/2010	Active	NO
3	U74900PN2011PLC138868	N MART RETAILS LIMITED	Director	15/03/2011	15/03/2011	Active	NO
4	U70100MH2012PTC226648	N MART DEVELOPERS PRIVATE LIMITED	Director	10/02/2012	10/02/2012	Active	NO
5	L51900MH1978PLC020601	PAREKH DISTRIBUTIORS LIMITED	Additional director	29/05/2012	29/05/2012	Active	NO
6	U72900GJ2012PTC071351	NEWLOOK INFOTECH PRIVATE LIMITED	Director	30/07/2012	30/07/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Gopal Mohansingh Shekhawat	9990
Pratibha Gopal Shekhawat	10
Total	10000

AS ON 31.03.2012

Names of Allottees	No. of Shares
Gopal Mohansingh Shekhawat	862013
Akil Patrawala	90000
Sakina Akil Patrawala	90000
Total	1042013

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	99.90
Other top fifty shareholders	0.10
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject involves in the business of real estate, commodity trading, Retail stores.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Pratibhaben G, Shekhawat	0.000	0.282
Gopal M. Shekhawat	5.938	0.830
Gopal M. Shekhawat HUF	0.002	0.000
Total	5.940	1.112

Banking Relations :	--
Auditors :
Name :	Viral B. Shah and Company Chartered Accountants
Address :	B/3 Antwerp Park, Kanshara Sheri, Mahidharpura, Surat – 395003, Gujarat, India
Tel. No.:	91-261-2608201/ 3008201
Mobile No.:	91-9925515546
E-Mail :	vbshahca@yahoo.com
Income-tax PAN of auditor or auditor's firm :	ATNPS3724P

CAPITAL STRUCTURE

AFTER 30.09.2011

Authorised Capital : Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 20.320 Million

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs. 10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Share	Rs.10/- each	Rs. 0.100 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		0.100	0.100	0.100
2] Share Application Money		10.600	0.000	0.000
3] Reserves & Surplus		0.306	0.000	0.033
4] (Accumulated Losses)		0.000	(3.992)	0.000
NETWORTH		11.006	(3.892)	0.133
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		5.940	1.112	0.100
TOTAL BORROWING		5.940	1.112	0.100
DEPOSITS FROM FRANCHISEE		62.584	0.000	0.000
ADVANCE FROM CUSTOMER		945.429	7.541	0.000
DEFERRED TAX LIABILITIES		0.701	0.000	0.005
TOTAL		1025.660	4.761	0.238
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		104.839	3.482	0.118
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		67.425	0.000	0.000
DEFERREX TAX ASSETS		0.000	1.805	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	138.117	1.253	0.000
	Sundry Debtors	75.134	0.001	0.000
	Cash & Bank Balances	184.218	0.444	0.113
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	137.525	0.934	0.000
Total Current Assets		534.994	2.632	0.113
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	41.494	2.566	0.000
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	79.418	0.601	0.006
Total Current Liabilities		120.912	3.167	0.006
Net Current Assets		414.082	(0.535)	0.107
MISCELLANEOUS EXPENSES		439.314	0.009	0.013
TOTAL		1025.660	4.761	0.238

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	360.478	7.303
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	353.674	13.138
	PROFIT/ [LOSS] BEFORE TAX		6.804	[5.835]
Less	TAX		2.506	1.810
	PROFIT/ [LOSS] AFTER TAX		4.298	[4.025]
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		[3.992]	0.033
	BALANCE CARRIED TO THE B/S		0.306	[3.992]	N.A.
	Earnings/ [Loss] Per Share (Rs.)		429.80	(402.50)	N.A.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.19	[55.11]	N.A.
Return on Total Assets (PBT/Total Assets}	(%)	1.06	[95.44]	N.A.
Return on Investment (ROI) (PBT/Networth)		0.62	[1.50]	N.A.
Debt Equity Ratio (Total Liability/Networth)		11.53	[1.10]	0.80
Current Ratio (Current Asset/Current Liability)		4.42	0.83	18.83

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	Yes
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 two years	Yes
12]	Profitability for last two 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	No
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

Note: The registered address of the company has been shifted from Shop No. 12A, 13A, Lalji Devraj Chawl, Gokuldas Pasta Road, Dadar (E), Mumbai – 400014, Maharashtra to the present w.e.f. 18.05.2011

FINANCIAL RESULTS:

During the year the company has posted better income of Rs. 360.478 Millions as compared to Rs. 7.303 Millions in previous corresponding year. As a result the company has posted a net profit of 4.298 Millions as compared to a net loss of Rs. 4.025 Millions in the corresponding previous year. In view of requirement of the profit in strengthening the operations of business, the directors do not recommend any dividend and the entire amount of balance of Profit and Loss Account is carried to the head “Reserves and Surplus’ in the Balance Sheet.

FIXED ASSETS:

v Mobile Purchase

v GPS Tracking System

v Lamination Machine

v Glow Sign Board

v Electronics Purchase

v Generator Purchase

v Digital Epabx System

v Telephone Purchase

v Office Building

v CCTV Camera

v Fire Safety Equipment

v Motor Car and Other Vehicle

v Furniture and Fixture

v Electrical Fittings

v Rack Fitting

v ACRYLIC Dispenser

v Shop Equipment

v Computer and Printer

v Computer Software

v Air Condition

v Chiller and Freeze

v UPS (Inverter)

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

INFORMATION DETAILS

Report Prepared by :

BVA

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	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	6
--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		41

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

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.