MIRA INFORM REPORT

Report Date :

10.12.2012

IDENTIFICATION DETAILS

Name :	GAURI STYLE S.A. DE C.V.
Registered Office :	Lucas Alamán No. 51,Departamento No. 403, Col. Obrera, Deleg. Cuauhtémoc 06000 México D.F. Distrito Federal
Country :	México
Date of Incorporation :	25.10.2006
Legal Form :	Stock Company of Variable Capital
Line of Business :	Subject is dedicated to the import and sale of Indian clothing for women
No. of Employees :	2

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

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^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
Mexico	A2	A2

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

MEXICO - ECONOMIC OVERVIEW

Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5%. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexico''s GDP plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP posted positive growth of 5.4% in 2010 and 3.8% in 2011, with exports - particularly to the United States - leading the way. The administration continues to face many economic challenges, including improving the public education system, upgrading infrastructure, modernizing labor laws, and fostering private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs.

Source : CIA

IDENTIFICATION

CORRECT COMPANY NAME

GAURI STYLE S.A. DE C.V.

TRADE NAME

GAURI STYLE

TAXPAYER REGISTRATION

RFC GST061025UG5

MAIN ADDRESS

Lucas Alamán No. 51,Departamento No. 403, Col. Obrera, Deleg. Cuauhtémoc,

POSTAL CODE

06000

PROVINCE / DEPARTAMENT

México D.F.

STATE / REGION

Distrito Federal

COUNTRY

MEXICO

TELEPHONE

(5255) 57611407 - 57616127

E-MAIL

impo32@hotmail.com

WEB

www.priyaindu.com

SUMMARY
Date of foundation	2006
permanent employees	2
Chief Executive	VELÁZQUEZ, ENRIQUE
Disposition	Poor.- Only general information without figures.
Payments policy	Without rating (No payment experience traced)
Credit (**)	Indeterminate, Information is insufficient. With no Experience.

LEGAL BACKGROUNDS

LEGAL STATUS

Stock Company of Variable Capital

DATE OF INCORPORATION

25OCT2006

PLACE OF REGISTRY

México D.F.

DURATION

99 years

LISTED AT STOCK EXCHANGE

No

CURRENT EXCHANGE RATE (US$)

$12.84 per 1.00 USADollar

COMMENTS

Personal information of the executives was not disclosed because of confidentiality policy.

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
VELÁZQUEZ, ENRIQUE	Legal Representative

WHO IS WHO?
VELÁZQUEZ, ENRIQUE
NATIONALITY	Mexican

BUSINESS HISTORY

-Priya, is a company dedicated to the manufacture and import of fashion, in a Hindu concept

-Priya. is a clothing line with Indian prints.

-It was legally established under the name of Gauri Style S.A. de C.V. on October 25, 2006 in Mexico City and since its founding and has not changed its legal structure.

-According to external sources of information we learnt that Mr. Surjit Singh of Hindu origin is one of the owners of the company but would not confirm this comment directly .

As far as we know the company does not report any related companies.

BUSINESS

SIC Classification
5 1 - WHOLESALE TRADE-NON-DURABLE GOODS. (Papers, Perfumes, drugs, hardware, Groceries, apparel, food, dairy products, beverages.)

Main activity

Subject is dedicated to the import and sale of Indian clothing for women, such as: Blouses, Pashminas, Bags, Accessories, Skirts and Shorts, Beachwear, Dresses, Pants, Promotion, Home Decor,, Men's shoes, 4 in 1, and MEN'S FOULARDS.

BRANDS: Priya

Import

Yes

Country

India

Export

No

% Credit SALES / Terms

100% (terms: 30 days)

EMPLOYEES

2

LOCATION
OTHER PREMISES	The administrative offices and tax residence of the company are located above. The facility is located within a 5-storey building, which as a reference is located between Bolivar and Fountain Street, centrally located in Mexico City. OTHER BUSINESS PREMISES: Subject has no branches.

Comments

Major clients include:

-Chedraui

-Wo

AWARDS

Company was awarded for 2nd. Time with the International Diamond Star for Quality and Excellence Award 2010.

These goals were achieved through work culture, tenacity and clear objectives.

Quality is the positive result and rewarded based on intelligent reflection, a collective effort and strategic planning as well as the sum of values and a willingness to comply.

This is not just a matter of belief, in PRIYA do everything possible to achieve it.

FINANCIAL INFORMATION
Disposition	Poor.- Only general information without figures.
Information provided	We interviewed Mr. Enrique Velasquez, who assisted us by providig the information contained in this report. However, he refused to provide any financial data on grounds of confidentialit.
SALES	US$ 0.00 ()
FINANCIAL SITUATION	NN: UNDETERMINED Subject's Financial Position is considered UNDETERMINED, since there are no financial figures allowing a financial analysis of the results in its last fiscal year.
Property of company comments	Fixed assets include: -Transportation Equipment -Furniture and Office Equipment -Computer Equipment
Insurance Comments	We could not access into that kind of information.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

CREDIT HISTORY

Despite our searches, we were not able to find information about the company's suppliers.

GENERAL INFORMATION

REPUTATION

NOTHING AGAINST COMPANY

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.20
UK Pound	1	Rs.86.99
Euro	1	Rs.70.22

INFORMATION DETAILS

Report Prepared by :

SDA

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	--

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%)

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.