MIRA INFORM REPORT

Report Date :

30.08.2012

IDENTIFICATION DETAILS

Name :	BODYCARE CREATIONS PRIVATE LIMITED
Registered Office :	B – 175, Yojna Vihar, Delhi – 110092
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	25.04.2008
Com. Reg. No.:	55-177227
Capital Investment / Paid-up Capital :	Rs.28.914 Millions
CIN No.: [Company Identification No.]	U17210DL2008PTC177227
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Suppliers of Ladies/ Gents Undergarments.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (43)

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

Maximum Credit Limit :	USD 360000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating = B+
Rating Explanation	Having high risk of default regarding timely servicing of financial obligation.
Date	June, 2012

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 :	B – 175, Yojna Vihar, Delhi – 110092, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	brishtisen@bodycarecreations.com tkga@tkguptaassociates.com info@bodycarecreations.com tkga@rediffmail.com
Website :	www.bodycarecreations.com
Corporate Office :	D-30, Sector – 63, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-4686400
Fax No.:	91-120-4686401

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Sanjay Dawar

Designation :

Director

Address :

B – 175, Yojna Vihar, Delhi – 110092, India

Date of Birth/Age :

20.12.1969

Date of Appointment :

25.04.2008

DIN No.:

00140517

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	U74140DL2005PTC137328	BREEZE PROPERTIES PRIVATE LIMITED	Director	7/6/2005	7/6/2005	20/03/2009	Active	NO
2	U51311DL2002PTC113760	HI-VISION EXIM PRIVATE LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
3	U17119DL1999PLC101029	BODYCARE INTERNATIONAL LIMITED.	Director	1/4/2006	1/4/2006	9/7/2009	Active	NO
4	U17210DL2008PTC177227	BODYCARE CREATIONS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO
5	U17120DL2008PTC177226	BODYCARE APPARELS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO
6	U74140DL2009PTC194423	BODYCARE HOLDINGS PRIVATE LIMITED	Director	17/09/2009	17/09/2009	-	Active	NO
7	U51311DL2004PTC128065	ANUKAMPA EXPORTS PRIVATE LIMITED	Additional director	11/9/2011	11/9/2011	-	Active	NO

Name :

Mrs. Anjana Dawar

Designation :

Director

Address :

B – 175, Yojna Vihar, Delhi – 110092, India

Date of Birth/Age :

28.05.1975

Date of Appointment :

25.04.2008

DIN No.:

00143856

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	U17119DL1999PLC101029	BODYCARE INTERNATIONAL LIMITED.	Director	30/08/2006	30/08/2006	9/7/2009	Active	NO
2	U17120DL2008PTC177226	BODYCARE APPARELS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO
3	U17210DL2008PTC177227	BODYCARE CREATIONS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO
4	U51311DL2004PTC128065	ANUKAMPA EXPORTS PRIVATE LIMITED	Additional director	11/9/2011	11/9/2011	-	Active	NO

Name :

Mr. Shri Krishan Dawar

Designation :

Additional Director

Address :

B – 175, Yojna Vihar, Delhi – 110092, India

Date of Birth/Age :

12.07.1939

Date of Appointment :

15.04.2009

DIN No.:

00143920

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	U17119DL1999PLC101029	BODYCARE INTERNATIONAL LIMITED.	Director	1/4/2006	1/4/2006	9/7/2009	Active	NO
2	U17210DL2008PTC177227	BODYCARE CREATIONS PRIVATE LIMITED	Additional director	15/04/2009	15/04/2009	-	Active	NO

Name :

Mrs. Vimla Dawar

Designation :

Additional Director

Address :

B – 175, Yojna Vihar, Delhi – 110092, India

Date of Birth/Age :

15.11.1944

Date of Appointment :

15.04.2009

DIN No.:

00143991

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	U17119DL1999PLC101029	BODYCARE INTERNATIONAL LIMITED.	Director	1/4/2006	1/4/2006	9/7/2009	Active	NO
2	U17210DL2008PTC177227	BODYCARE CREATIONS PRIVATE LIMITED	Additional director	15/04/2009	15/04/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Sanjay Dawar	1547640
Anjana Dawar	1034800
Ankit Dawar	5000
Atul kataria	5000
Naresh Dawar	5000
Nisha Dawar	5000
Nitika Kataria	5000
Nitin Soni	5000
Prashant Verma	5000
Radha Rani Kataria	5000
Rajeev Kataria	5000
Ram Avtar Kataria	5000
Rashi Dawar	5000
Rashmi Soni	5000
Renu Verma	5000
Renu Kataria	5000
Shaily Kataria	10000
Sagar Dawar	5000
Sanjeev Kataria	5000
Kishan Lal Kataria	5000
Shreya Dawar	5000
Krishan Dawar	101000
Urvashi Kataria	5000
Vansh Dawar	5000
Vimla Dawar	98000
Total	2891440

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Suppliers of Ladies/ Gents Undergarments.

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Ladies/ Gents Undergarments	Doz	775000	746,290.00

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, SME Branch, G.T. Road Shahdara, Delhi – 110032, India

· HDFC Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
State Bank of India (30527468773 T/L) A/c	9.576	12.608
State Bank of India (30527567434 CC) A/c	55.441	43.249
State Bank of India (302994009984 T.L.) A/c	59.961	50.369
HDFC Car Loan No. 14835933	0.738	1.214
Total	125.716	107.440
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Director	0.145	4.861
Total	0.145	4.861

Banking Relations :	--
Auditors :
Name :	T. Gupta and Associates Chartered Accountants
Address :	4228/1, Ansari Road, Darya Ganj, Delhi – 110002, India
Tel No.:	91-11-21269898
Fax No.:	91-11-21255308
PAN No.:	AAKPG3093K

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2891440	Equity Share	Rs.10/- each	Rs.28.914 Millions

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Share	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2891440	Equity Share	Rs.10/- each	Rs.28.914 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		28.914	28.914	22.900
2] Share Application Money		31.570	0.000	0.021
3] Reserves & Surplus		30.661	18.073	1.521
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		91.145	46.987	24.442
LOAN FUNDS
1] Secured Loans		125.716	107.440	44.798
2] Unsecured Loans		0.145	4.861	0.000
TOTAL BORROWING		125.861	112.301	44.798
DEFERRED TAX LIABILITIES		0.096	0.307	0.488
TOTAL		217.102	159.595	69.728
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		142.420	103.293	31.141
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	83.214	68.753	46.508
	Sundry Debtors	54.807	32.867	24.351
	Cash & Bank Balances	7.894	6.546	3.520
	Other Current Assets	0.000	0.000	0.025
	Loans & Advances	22.363	11.708	2.183
Total Current Assets		168.278	119.874	76.587
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	75.334	57.740	36.009
	Other Current Liabilities	7.910	4.937	2.207
	Provisions	10.654	4.352	0.389
Total Current Liabilities		93.898	67.029	38.605
Net Current Assets		74.380	52.845	37.982
MISCELLANEOUS EXPENSES		0.302	3.457	0.605
TOTAL		217.102	159.595	69.728

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	418.155	318.679	75.459
		Other Income	1.002	1.233	0.223
		TOTAL	419.157	319.912	75.682
Less	EXPENSES
		Increase/ (Decrease) in Stock	(3.869)	(19.931)	(26.353)
		Cost of Goods Sold	251.172	211.028	78.459
		Direct Expenses	45.109	36.691	12.533
		Administrative Expenses	100.607	74.431	7.574
		TOTAL	393.019	302.219	72.213
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		26.138	17.693	3.441
Less/ Add	DEPRECIATION/ AMORTISATION		7.459	6.292	1.043
	PROFIT BEFORE TAX		18.679	11.401	2.398
Less	TAX		6.091	3.870	0.878
	PROFIT AFTER TAX		12.588	7.531	1.520
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		9.051	1.520	0.000
	BALANCE CARRIED TO THE B/S		21.639	9.051	1.520
	EARNINGS IN FOREIGN CURRENCY		12.157	15.474	NA
	Earnings Per Share (Rs.)		4.35	753.63	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.00	2.35	2.01
Net Profit Margin (PBT/Sales)	(%)	4.47	3.58	3.18
Return on Total Assets (PBT/Total Assets}	(%)	6.01	5.11	2.23
Return on Investment (ROI) (PBT/Networth)		0.20	0.24	0.10
Debt Equity Ratio (Total Liability/Networth)		2.41	3.82	3.41
Current Ratio (Current Asset/Current Liability)		1.79	1.79	1.98

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	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	Yes

FINANCIAL RESULTS

During the Current Financial year, the company has a net profit of Rs.12.588 Millions and previous year Net profit was Rs.7.526 Millions.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U17210DL2008PTC177227
Name of the company	BODYCARE CREATIONS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B – 175, Yojna Vihar, Delhi – 110092, India tkga@tkguptaassociates.com
This form is for	Modification of charge
Charge identification number of the modified	10132048
Type of charge	Immovable property Book debts Movable property (not being pledge) Floating charge Others: Stock
Particular of charge holder	State Bank of India, SME Branch, G.T. Road Shahdara, Delhi – 110032, India tcjoshi1979@gmail.com
Nature of description of the instrument creating or modifying the charge	(i) Agreement of Loan Cum Hypothecation (SME-2) (ii) Letter of Agreement (SME-1) (iii) Guarantee Agreement (SME-3) (iv) Letter of confirmation for extension of Mortgage by deposit of title deeds (SME-8) (2Nos) (v) Link Letter (SME-12)
Date of instrument Creating the charge	10.01.2012
Amount secured by the charge	Rs.244.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest WC-@5.50% margin above Base rate which is present @10% p.a. present effective rate 15.50% Terms of Repayment As per Agreement. Margin Raw Materials: Imported/ Indigenous/ Semi Finished goods/ Finished good - 25% and Domestic receivables -40% Extent and Operation of the charge 100% Others The above is to secure the Credit facilities of Rs.244.000 Millions i.e. Cash Credit (Hypothecation) Rs.100.000 Millions, SLC of Rs.10.000 Millions, Term Loan -I (Present Outstanding) Rs.7.400 Millions, Term Loan-II (present outstanding) of Rs.53.600 Millions, Term Loan-III of Rs.33.000 Millions and LC of Rs.40.000 Millions, granted by the Bank to the company
Short particulars of the property charged	Primary Security: (i) Hypothecation of entire current assets, present and future of the Company including its stock of raw material, stores, spares, SIP, FG etc. including goods in transit. (ii) Exclusive Hypothecation charge over the Companies all present and future, Book Debts/Receivables as also clean/receivables as also clean and documentary bills, domestic or export whether accepted or otherwise. Term Loan: First charge over fixed assets of the company existing and being created out of Bank finance including equitable mortgage of factory land and building situated at Plot No.8/2, Site-IV, Sahibabad Industrial Area, Ghaziabad(UP) admeasuring 70000 sq. ft. Collateral Security: Extension of charge over the factory land and building owned by Hi-Vision Exim Private Limited, situated at Plot No. D-30, Sector-63, Noida measuring an area of 1620 sq. mtrs. Extension of charge over residual value of entire fixed assets including L and B at Plot No.8/2, Site-IV, Sahibabad Industrial Area, Ghaziabad (UP) in the name of company. Corporate Guarantee of M/s Hi-Vision Exim Private Limited
Date of latest modification prior to the present modification	02.10.2011
Particulars of the present modification	The various credit facilities stand enhanced from 205.500 Millions to Rs 205.500 Millions i.e. Cash Credit (Hypothecation) Rs.100.000 Millions, SLC of Rs.10.000 Millions, Term Loan -I (Present Outstanding) Rs.7.400 Millions, Term Loan- II (present outstanding) of Rs. 53.600 Millions, Term Loan- III of Rs.33.000 Millions and LC of Rs.40.000 Millions. Other terms and conditions remaining the same.

FIXED ASSETS:

· Air Conditioner

· Computer

· Furniture and Fitting

· Furniture and Fixture

· Machinery

· Generator

· Vehicles

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.55.67
UK Pound	1	Rs.88.05
Euro	1	Rs.69.92

INFORMATION DETAILS

Report Prepared by :

NTH

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	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		43

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.