MIRA INFORM REPORT

Report Date :

16.07.2012

IDENTIFICATION DETAILS

Name :	OLIVE EXPORTS PRIVATE LIMITED
Registered Office :	3870A/10, Kanhaiya Nagar, Tri Nagar, New Delhi – 110 035
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	03.10.1994
Com. Reg. No.:	55-061890
Capital Investment / Paid-up Capital :	Rs.0.100 million
CIN No.: [Company Identification No.]	U74899DL1994PTC061890
TAN No.: [Tax Deduction & Collection Account No.]	DELO01321F
Legal Form :	Private Limited Liability Company
Line of Business :	Exporter of Home Furnishing.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 31000
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small 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 – September 30, 2011

Country Name	Previous Rating (30.09.2011)	Current Rating (31.12.2011)
India	A1	A1

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

INFORMATION DECLINED BY

Name :	Mrs. Anupama Shyam Sunder Jindal
Designation :	Director
Contact No.:	91-9312400900
Date :	07.2012

LOCATIONS

Registered Office :	3870A/10, Kanhaiya Nagar, Tri Nagar, New Delhi – 110 035, India
Tel. No.:	91-11-27386560
Mobile No.:	91-9312400900 (Ms. Anupama Jindal)
Fax No.:	Not Available
E-Mail :	guptaswadesh@yahoo.co.uk shyamjindalca@gmail.com

DIRECTORS

As on 24.09.2011

Name :

Mr. Shyam Sunder Jindal

Designation :

Director

Address :

IA/ 57C, Ashok Vihar, New Delhi – 110 052, India

Date of Birth/Age :

02.02.1967

Date of Appointment :

03.10.1994

DIN No.:

00761719

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	U74899DL1994PTC061890	Olive Exports Private Limited	Director	03/10/1994	03/10/1994	Active	NO
2	U72200DL2000PTC105748	Igen Technosys Private Limited	Director	20/01/2004	20/01/2004	Active	NO
3	U15209DL2000PTC105374	Olive Led Lights Private Limited	Director	28/03/2006	28/03/2006	Active	NO

Name :

Mrs. Anupama Shyam Sunder Jindal

Designation :

Director

Address :

IA/ 57C, Ashok Vihar, New Delhi – 110 052, India

Date of Birth/Age :

25.01.1971

Date of Appointment :

20.08.2002

DIN No.:

00840789

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	U74899DL1994PTC061890	Olive Exports Private Limited	Director	20/08/2002	20/08/2002	Active	NO
2	U15209DL2000PTC105374	Olive Led Lights Private Limited	Director	31/08/2010	30/04/2010	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2011

Names of Shareholders	No. of Shares
Shyam Sunder Jindal	5000
Anupama Jindal	5000
Total	10000

As on 24.09.2011

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

BUSINESS DETAILS

Line of Business :	Exporter of Home Furnishing.
Products :	v Housing for all LED based Street Light, Bay Lights and Down Lighters v LED Street Lights v LED Bay Lights v LED Ceiling Lights v LED Down Lighter v LED Tube Lights v LED Bulbs v LED Focus/Stitching Machine Lights v LED Cove Lights v LED Solar Lights v LED Back/Front Lighting

GENERAL INFORMATION

Customers :	v Indian Oil Corporation v NDMC v Indian Railways v ITI Limited v Bosch v Subros v Keseri Hospitality Private Limited v Accenture Bodtronics v ACME Telepower Limited v Akshant Autoline Private Limited v BSMC Power Systems v Deepa Solar Lighting v Dini Enterprise v Fusion Power System v Home Style Lighting v Honda Siel Cars India v Ansal buidwell Limited v pacific Technologies v Sangwan Energy Systems Private Limited v Vantage India v TRA International v Suraya Lighting Systems v Social Change Management (Private) Limited
No. of Employees :	Information declined by the management
Bankers :	Not Divulged

Banking Relations :	--
Auditors :
Name :	Mittal and Mittal Associates Chartered Accountants
Address :	307, ITL Tower, B-9, Netaji Subhash Place, Pitampura, Delhi – 110 034, India
Income-tax PAN of auditor or auditor's firm :	AABFM9071A
Memberships :	v LEDMA v CNRE

CAPITAL STRUCTURE

As on 24.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	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		0.000	0.000	0.000
3] Reserves & Surplus		7.541	7.278	7.363
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		7.641	7.378	7.463
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.117	0.000	0.000
TOTAL		7.758	7.378	7.463
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.819	3.139	3.026
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.005	0.002
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.152	0.966	0.769
	Sundry Debtors	0.657	0.443	0.194
	Cash & Bank Balances	0.669	0.247	1.213
	Other Current Assets	0.041	0.023	0.249
	Loans & Advances	5.886	6.836	4.615
Total Current Assets		9.405	8.515	7.040
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.466	4.281	2.128
	Other Current Liabilities
	Provisions	0.000	0.000	0.477
Total Current Liabilities		5.466	4.281	2.605
Net Current Assets		3.939	4.234	4.435
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.758	7.378	7.463

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Gross Receipts	8.244	2.752	0.502
		Other Income	0.783	0.676	0.640
		TOTAL	9.027	3.428	1.142
Less	EXPENSES
		Cost of Sales	6.789	2.090	0.425
		Operating Expenses	1.854	1.410	0.578
		TOTAL	8.643	3.500	1.003
	PROFIT/ (LOSS) BEFORE TAX		0.384	(0.072)	0.139
Less	TAX		0.122	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		0.262	(0.072)	0.139
	Earnings/ (Loss) Per Share (Rs.)		26.24	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.90	(2.10)	12.17
Net Profit Margin (PBT/Sales)	(%)	4.66	(2.62)	27.69
Return on Total Assets (PBT/Total Assets}	(%)	2.90	(0.62)	1.38
Return on Investment (ROI) (PBT/Networth)		0.05	(0.01)	0.02
Debt Equity Ratio (Total Liability/Networth)		0.72	0.58	0.35
Current Ratio (Current Asset/Current Liability)		1.72	1.99	2.70

LOCAL AGENCY FURTHER INFORMATION

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	Yes
10) Designation of contact person	Yes
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	Yes
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	No
24) Banking facility details	No
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

Note:

The registered office of the company has been shifted from 205, Shyam Chambers, 2943/3, Chuna Mandi, Pahar Ganj, New Delhi – 110 055 to the present address w.e.f. 31.07.2010.

FIXED ASSETS:

Intangible Assets

v Pattent and Trademarks

Tangible Assets

v Construction at Manesar

v Plot 40/7 at IMT Manesar Block

v Dies and Moulds

v Digital Camera

v Lab Equipments

v Machinery

v Office Equipment and Fitting

v Pantoon Colour

v Furniture and Fitting

v Car Aveo Chevorlet

v Car Esteem

v Scooter

v Computer

v Pattern Development

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.55.66
UK Pound	1	Rs.85.89
Euro	1	Rs.67.88

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		32

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.