1. Summary Information

		Country	India
Company Name	PRIME LENSES PRIVATE LIMITED	Principal Name 1	Mr. Vikram Gupta
Status	Moderate	Principal Name 2	Mr. Gaurav Gupta
		Registration #	24-000823
Street Address	D2-19, Tivim Industrial Estate, Mapusa-403526, Goa
Established Date	30.05.1988	SIC Code	--
Telephone#	91-832-2257253/283/291/335/336/3256270	Business Style 1	Producer
Fax #	91-832-2257044	Business Style 2	-
Homepage	http://www.Primelenses.com	Product Name 1	finest Quality (Mineral and Organic) Ophthalmic Lenses.
# of employees	15 [Approximately]	Product Name 2	-
Paid up capital	Rs.7,510,000/-	Product Name 3	-
Shareholders	Directors or relatives of directors – 100%	Banking	Bank of India
Public Limited Corp.	No	Business Period	24 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B [26]
Related Company
Relation	Country	Company Name	CEO
-	-	-	-
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2009		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	39,895,000	Current Liabilities	39,060,000
Inventories	10,616,000	Long-term Liabilities	41,100,000
Fixed Assets	54,492,000	Other Liabilities	14,501,000
Deferred Assets	0	Total Liabilities	94,661,000
Invest& other Assets	9,825,000	Retained Earnings	12,657,000
		Net Worth	20,167,000
Total Assets	114,828,000	Total Liab. & Equity	114,828,000
Total Assets (Previous Year)	117,225,000
P/L Statement as of	31.03.2009		(Unit: Indian Rs.)
Sales	93,766,000	Net Profit	[588,000]
Sales(Previous yr)	91,475,000	Net Profit(Prev.yr)	[2,647,000]

MIRA INFORM REPORT

Report Date :

03.01.2012

IDENTIFICATION DETAILS

Name :	PRIME LENSES PRIVATE LIMITED (w.e.f 11.03.2005)
Formerly Known As :	GKB MARKETING SERVICES PRIVATE LIMITED
Registered Office :	D2-19, Tivim Industrial Estate, Mapusa-403526, Goa
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	30.05.1988
Com. Reg. No.:	24-000823
Capital Investment / Paid-up Capital :	Rs.7.510 Millions
CIN No.: [Company Identification No.]	U52311GA1988PTC000823
TAN No.: [Tax Deduction & Collection Account No.]	BLRP06227E / BLRP06260C
PAN No.: [Permanent Account No.]	AAACG7072P
Legal Form :	Private Limited Liability Company
Line of Business :	Producer of finest Quality (Mineral and Organic) Ophthalmic Lenses.
No. of Employees :	15 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B [26]

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

Maximum Credit Limit :	USD 80000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The management has not filed the financials of the company with the government departments after the year 2009. However, trade relations are reported as fair. Business is active. Payments are unknown. The company can be considered for business dealing with some cautions.

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

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY [General Details]

Name :	Mr. Babla
Designation :	Account Manager
Contact No.:	91-9326140742
Date :	30.12.2011

LOCATIONS

Registered Office :	D2-19, Tivim Industrial Estate, Mapusa-403526, Goa, India
Tel. No.:	91-832-2257253 / 283 / 291 / 335 / 336 / 3256270
Fax No.:	91-832-2257044
E-Mail :	primegoa@bsnl.in gkbgoa@bsnl.in primegoa@gkb.net
Website :	http://www.Primelenses.com
Branches :	Located At: Mumbai Chennai Noida Cochin Hyderabad Kolkata Nagpur Ahmedabad Bangalore New Delhi

DIRECTORS

As on 30.09.2009

Name :

Ms. Veena Gupta

Designation :

Director

Address :

Anukampa, 60 Green Valley, Alto Porvorim-403521, North Goa, India

Date of Birth/Age :

28.08.1946

Qualification :

Graduate

Date of Appointment :

01.02.1992

DIN :

00953242

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U52311GA1988PTC000823	PRIME LENSES PRIVATE LIMITED	Director	1/2/1992	1/2/1992	Active	YES
2	U72100MH2000PTC129227	MEGA MOTION INFOTECH PRIVATE LIMITED	Director	17/10/2000	17/10/2000	Strike off	NO
3	U92132MH2001PTC133328	MEGA MOTION STUDIOS PRIVATE LIMITED	Director	10/9/2001	10/9/2001	Strike off	NO

Name :

Mr. Vikram Gupta

Designation :

Director

Address :

Anukampa, 60 Green Valley, Alto Porvorim-403521, North Goa, India

Date of Birth/Age :

27.09.1968

Qualification :

B.E.

Date of Appointment :

25.03.1994

DIN :

00052019

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U52311GA1988PTC000823	PRIME LENSES PRIVATE LIMITED	Managing director	1/9/2010	25/03/1994	Active	YES
2	L26109GA1981PLC000469	GKB OPHTHALMICS LIMITED	Director	1/4/2008	24/07/1996	Active	NO
3	U33201GA2000PLC002864	GKB VISION LIMITED	Whole-time director	1/4/2008	3/7/2000	Active	NO
4	U72100MH2000PTC129227	MEGA MOTION INFOTECH PRIVATE LIMITED	Director	17/10/2000	17/10/2000	Strike off	NO
5	U92132MH2001PTC133328	MEGA MOTION STUDIOS PRIVATE LIMITED	Director	10/9/2001	10/9/2001	Strike off	NO
6	U33201GA2004PTC003411	PRIME OPHTHALMIC PRODUCTS PRIVATE LIMITED	Director	4/3/2004	4/3/2004	Active	YES
7	U33112GA2005PTC004198	VISION MOLD INNOVATIONS PRIVATE LIMITED	Director	26/10/2005	26/10/2005	Strike off	NO
8	U74899GA1996PTC005420	CRYSTA LENSES PRIVATE LIMITED.	Director	31/03/2006	31/03/2006	Active	NO
9	U33201GA2008PTC005907	INDO PRIME VISUAL TECHNOLOGIES PRIVATE LIMITED	Director	20/09/2008	20/09/2008	Active	NO

Name :

Mr. Gaurav Gupta

Designation :

Director

Address :

Anukampa, 60 Green Valley, Alto Porvorim-403521, North Goa, India

Date of Birth/Age :

26.03.1972

Qualification :

B.Sc.

Date of Appointment :

27.07.1994

DIN :

00051974

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U52311GA1988PTC000823	PRIME LENSES PRIVATE LIMITED	Director	27/07/1994	27/07/1994	Active	YES
2	L26109GA1981PLC000469	GKB OPHTHALMICS LIMITED	Director	3/7/1999	3/7/1999	Active	NO
3	U33201GA2000PLC002864	GKB VISION LIMITED	Managing director	1/9/2010	3/7/2000	Active	NO
4	U72100MH2000PTC129227	MEGA MOTION INFOTECH PRIVATE LIMITED	Director	17/10/2000	17/10/2000	Strike off	NO
5	U92132MH2001PTC133328	MEGA MOTION STUDIOS PRIVATE LIMITED	Director	10/9/2001	10/9/2001	Strike off	NO
6	U33201GA2004PTC003411	PRIME OPHTHALMIC PRODUCTS PRIVATE LIMITED	Director	4/3/2004	4/3/2004	Active	YES
7	U33112GA2005PTC004198	VISION MOLD INNOVATIONS PRIVATE LIMITED	Director	26/10/2005	26/10/2005	Strike off	NO
8	U74899GA1996PTC005420	CRYSTA LENSES PRIVATE LIMITED	Director	31/03/2006	31/03/2006	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2009

Names of Shareholders	No. of Shares
Gaurav Gupta	115000
Shefali Chawala	98760
Veena Gupta	107920
Krishna Gopal Gupta	246350
K.G. Gupta HUF	12290
Vikram Gupta	150680
Radhika Gupta	15000
Seema Gupta	5000
Total	751000

As on 30.09.2009

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Producer of finest Quality (Mineral and Organic) Ophthalmic Lenses.
Terms :
Selling :	Cash
Purchasing :	Cash

GENERAL INFORMATION

No/. of Employees :	15 [Approximately]
Bankers :	Bank of India, Mapusa Branch, Bandeshwar Near Muncipal Garden, Mapusa-403507, Goa, India

Banking Relations :	--
Auditors :
Name :	Borkar and Muzumdar Chartered Accountants
Address :	Kamaxi Niwas, Opposite EDC House, Dr. A.G. Borkar Road, Panaji-430001, Goa, India
Tel. No.:	91-832-2224858
PAN :	AAAFB3194J

CAPITAL STRUCTURE

As on 30.09.2009

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
751,000	Equity Shares	Rs.10/- each	Rs.7.510 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		7.510	7.510	5.406
2] Share Application Money		0.000	0.000	0.400
3] Reserves & Surplus		12.657	13.189	16.425
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		20.167	20.699	22.231
LOAN FUNDS
1] Secured Loans		40.178	42.504	40.362
2] Unsecured Loans		0.922	3.942	0.821
TOTAL BORROWING		41.100	46.446	41.183
DEFERRED TAX LIABILITIES		3.554	2.681	3.378
TOTAL		64.821	69.826	66.792
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		54.492	57.649	45.429
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		9.825	9.825	9.825
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	10.616	12.368	12.876
	Sundry Debtors	23.984	22.318	12.641
	Cash & Bank Balances	2.334	2.675	1.345
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	13.577	12.390	11.129
Total Current Assets		50.511	49.751	37.991
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities	39.060	36.933	16.383
	Provisions	10.947	10.466	10.070
Total Current Liabilities		50.007	47.399	26.453
Net Current Assets		0.504	2.352	11.538
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		64.821	69.826	66.792

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009	31.03.2008	31.03.2007
	SALES
		Income	93.766	91.475	NA
		Other Income	1.190	1.270	NA
		TOTAL	94.956	92.745	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses	90.095	91.951	NA
		Advertising Expenses
		Financial Expenses
		TOTAL	90.095	91.951	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		4.861	0.794	NA
Less/ Add	DEPRECIATION/ AMORTISATION		4.204	3.813	3.188
	PROFIT BEFORE TAX		0.657	(3.019)	3.089
Less	TAX		1.245	(0.372)	NA
	PROFIT AFTER TAX		(0.588)	(2.647)	NA
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		7.590	10.825	NA
	BALANCE CARRIED TO THE B/S		7.002	8.178	NA
	Earnings Per Share (Rs.)		(0.78)	(3.52)	NA

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008	31.03.2007
PAT / Total Income	(%)	(0.62)	(2.85)	NA
Net Profit Margin (PBT/Sales)	(%)	0.70	(3.30)	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.63	(2.81)	3.70
Return on Investment (ROI) (PBT/Networth)		0.03	(0.15)	0.14
Debt Equity Ratio (Total Liability/Networth)		4.52	4.53	3.04
Current Ratio (Current Asset/Current Liability)		1.01	2.35	1.44

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	-
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	No
Profitability for last three years	No
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	-
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	No
Incorporation details, if applicable	-
Last accounts filed at ROC	-
Major Shareholders, if applicable	-

Operations:

During the year, the company has improved its performance and the trend is continuing. The turnover of the company increase to Rs.93.766 millions during the year against Rs.91.475 millions in the previous year.

Current Years:

The sales during the first quarter of the company financial year show a promising trend. The turnover during the first quarter was of Rs.23.002 millions as compared to Rs.20.645 millions, during the corresponding period in the previous year.

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the modified	90065578
Corporate identity number of the company	U52311GA1988PTC000823
Name of the company	PRIME LENSES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	D2-19, Tivim Industrial Estate, Mapusa-403526, Goa, India
Type of charge	Book Debts Movable Property (not being pledge) Immovable Property
Particular of charge holder	Bank of India, Mapusa Branch, Bandeshwar Near Municipal Garden, Mapusa-403507, Goa, India
Email	mpcboi@bsnl.in
Nature of description of the instrument creating or modifying the charge	1. L/448A Hypothecation of tangible Machinery and Plant dated 31st May 2007 for Rs.10.000 Millions 2. L/481 Form A Supplemental Deed of Hypothecation of Stocks dated 31st May 2007 for Rs. 5.000 Millions 3. L/481 Form A Supplemental Deed of Hypothecation of Book Debts dated 31st May 2007 for Rs. 2.500 Millions
Date of instrument Creating the charge	31.05.2007
Amount secured by the charge	Rs.53.200 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate of 0% over BPLR, Minimum 13.25% for term loan. Interest at the rate of 0% over BPLR, Minimum 13.25% or such rates as notified by the bank from time to time for Cash Credit Limit. Terms of Repayment Term loan of Rs.10.000 Millions is repayable in 60 monthly installments of Rs. 0.167 millions each Cash Credit on Demand. Margin 25% for Term Loan 25% for Cash Credit (Stock) 40% for Cash Credit (Debtors) Extent and Operation of the charge Bank of India has sanctioned an additional Cash credit Limit of Rs.2.500 Millions in additional to the existing Cash Credit limit of Rs. 10.000 Millions and for this purpose equitable Mortgage on Mortgage on Company's properties in Santacruz, Mumbai has been extended to over additional Cash Credit. The charge is also extended to cover the new Term Loan of Rs.10.000 Millions. The temporary Additional Cash Credit limit of Rs. 2.500 Millions sanctioned earlier is hereby replaced with regular limit.
Short particulars of the property charged	I) Company's immovable properties at Gata Nos. 207, 316 and 317 at Creative industries Premises Co-Operative Society, Kalinza, Santacruz (East), Mumbai. II) Stocks and Book Debts
Date of latest modification prior to the present modification	30.03.2007
Particulars of the present modification	Bank Of India has sanctioned additional credit facilities and enhanced credit limits are as below: a) Cash Credit stock 12.500 Millions , Book Debts 10.000 - Maximum Rs.12.500 Millions [Existing Rs.7.500 Millions ] b) Term Loan Rs.10.000 Millions [Existing original Rs.30.000 Millions, now outstanding Rs.25.800 Millions] - total Rs.35.800 Millions. c) Letter of Credit Rs.4.900 Millions [ Existing Rs.10.000 Millions ] Enhanced Limit: Rs.12.500 L + Rs.35.800 L + Rs.4.900 L = Rs.53.200 Millions. Existing limit was Rs.10.000 L + Rs.30.000 L + Rs.10.000 L=Rs.50.000 Millions

AS PER WEBSITE DETAILS:

PROFILE:

Subjects are the largest producer of finest Quality (Mineral and Organic) Ophthalmic Lenses in India. The company produces Bifocals, Single Vision and Progressive Lenses with finest quality of Hard coating and Multi coating.

Subject is known for exporting its lenses to more than 100 countries, the IVIZ series is a truly international quality product that is thinner, lighter, sharper, and stronger than similar versions being marketed in India.

These lenses are manufactured in their parent company GKB Ophthalmic and GKB Vison in Goa and are later finished by our labs located in various parts of India covering entire region.

Subject plans to supply all kinds of prescription lenses to the Indian market of highest quality, through the quickest possible delivery system and all this at international quality in competitive price.

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.53.29
UK Pound	1	Rs.82.66
Euro	1	Rs.68.90

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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

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

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

RATING EXPLANATIONS

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

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

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