MIRA INFORM REPORT

Report Date :

27.07.2012

IDENTIFICATION DETAILS

Name :	VALUE AND BUDGET HOUSING CORPORATION PRIVATE LIMITED (w.e.f. 19.07.2010)
Formerly Known As :	VALUE AND BUDGET HOUSING CORPORATION (INDIA) PRIVATE LIMITED
Registered Office :	H.M Stafford House, 29/4, 3^rd Floor, 7^th Cross, Vasanthnagar Extension, Off Millers Road, Bangalore – 560 052, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.07.2008
Com. Reg. No.:	08-047156
Capital Investment / Paid-up Capital :	Rs.46.328 millions
CIN No.: [Company Identification No.]	U45202KA2008PTC047156
TAN No.: [Tax Deduction & Collection Account No.]	BLRV07846G
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the planning, design, and construction of budget homes.
No. of Employees :	Not Available

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 3233000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a company having moderate track. It has incurred loss during this year also. Accumulated losses recorded by the company appear to be increasing over years. Business is active. Payments are reported to be slow. The company can be considered for business dealings with great caution.

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 DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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 :	H.M Stafford House, 29/4, 3^rd Floor, 7^th Cross, Vasanthnagar Extension, Off Millers Road, Bangalore – 560 052, Karnataka, India
Tel. No.:	91-80-43479500
Fax No.:	91-80-43479502
E-Mail :	raojerry@hotmail.com bhaskar.chaudhry@vbhc.com
Website :	https://www.vbhc.com
Design Office :	Lakshmi Narayan Complex, 4^th Floor, # 10/1, Palace Road, Vasanth Nagar, Bangalore – 560 052, Karnataka, India
Tel. No.:	91-80-49095100
Fax No.:	91-80-43479502

DIRECTORS

As on 06.09.2011

Name :

Mr. Jaithirth Rao

Designation :

Director

Address :

61, Umang, Kashibai Navrange Marg, Gamdevi, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

12.07.1952

Qualification :

B.Sc. University of Madras, MBA IIM Ahmedabad, MBA University of Chicago

Experience :

35 Years

Date of Appointment :

31.10.2008

DIN No.:

00025289

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	U70100MH1990PTC059315	RAO PROPERTIES PRIVATE LIMITED	Director	06/12/1990	06/12/1990	-	Active	NO
2	U63040MH1990PTC059400	SANVIJAY TOURIST SERVICES PRIVATE LIMITED	Director	13/12/1990	13/12/1990	-	Strike off	NO
3	L30007KA1992PLC025294	MPHASIS LIMITED	Director	10/01/2000	10/01/2000	05/01/2008	Active	NO
4	L17119GJ1931PLC000093	ARVIND LIMITED	Director	20/11/2002	20/11/2002	13/01/2007	Active	NO
5	L34101PN1961PLC015735	GABRIEL INDIA LIMITED	Director	12/05/2003	12/05/2003	20/07/2007	Active	NO
6	U67190MH2002PLC137798	IDFC ALTERNATIVES LIMITED	Director	17/09/2003	17/09/2003	25/10/2011	Active	NO
7	L55101KA1986PLC007392	ROYAL ORCHID HOTELS LIMITED	Director	18/07/2005	18/07/2005	16/05/2011	Active	NO
8	U22211KA2005PTC037776	BANGALORE REVIEW AND MAGAZINES COMPANY PRIVATE LIMITED	Director	25/11/2005	25/11/2005	27/02/2008	Strike off	NO
9	U67190MH2005PLC153471	RELIGARE ASSET MANAGEMENT COMPANY LIMITED	Director	29/09/2006	27/07/2006	04/12/2008	Active	NO
10	U67190KA2006PTC040449	JURIS REALTY PRIVATE LIMITED	Director	08/09/2006	08/09/2006	-	Active	NO
11	L45200KA1986PLC051571	PURAVANKARA PROJECTS LIMITED	Director	02/07/2007	26/12/2006	25/03/2009	Active	NO
12	U74110KA2005PTC037857	JURIMATRIX SERVICES INDIA PRIVATE LIMITED	Director	04/01/2007	27/12/2006	-	Active	NO
13	L45205TN1995PLC030231	VA TECH WABAG LIMITED	Director	28/09/2007	31/01/2007	-	Active	NO
14	U93000MH2007PLC170064	PSK FINANCIAL PLANNING AND INSURANCE SALES CO. LIMITED	Director	30/04/2007	30/04/2007	24/03/2011	Active	NO
15	U74999MH2008PTC177389	INDHAN TECHNOLOGIES PRIVATE LIMITED	Director	04/01/2008	04/01/2008	01/02/2008	Active	NO
16	U45400KA2008PTC045008	CANARIAN LAND DEVELOPERS PRIVATE LIMITED	Director	21/01/2008	21/01/2008	21/02/2008	Active	NO
17	U74120DL2008NPL182363	DATA SECURITY COUNCIL OF INDIA	Director	22/08/2008	22/08/2008	30/06/2011	Active	NO
18	U45202KA2008PTC047156	VALUE AND BUDGET HOUSING CORPORATION PRIVATE LIMITED	Director	15/09/2009	31/10/2008	-	Active	NO
19	U01403KA2009PTC049227	CHAI BAGEECHA ESTATES PRIVATE LIMITED	Director	26/02/2009	26/02/2009	11/06/2011	Active	NO
20	U72100MH2006PTC158688	KANDOR SOLUTIONS PRIVATE LIMITED	Director	01/06/2009	01/06/2009	-	Active	NO
21	L72200AP1991PLC013134	INFOTECH ENTERPRISES LIMITED	Director	14/07/2010	20/07/2009	16/08/2011	Active	NO
22	U65990KA2010PTC052353	HOME FIRST FINANCE COMPANY INDIA PRIVATE LIMITED	Director	03/02/2010	03/02/2010	-	Active	NO
23	U01122KA2010PTC052588	RAO HORTICULTURE PRIVATE LIMITED	Director	18/02/2010	18/02/2010	28/09/2011	Active	NO
24	U80302DL2010PTC199375	FOSTIIMA INTEGRATED LEARNING RESOURCES PRIVATE LIMITED	Director	22/02/2010	22/02/2010	-	Active	NO
25	U16009MH2010PTC203066	TRICHNOPOLY AND DINDIGUL CIGAR AND CHEROOT COMPANY PRIVATE LIMITED	Director	12/05/2010	12/05/2010	-	Active	NO

Name :

Mr. Palamadai Sundararajan Jayakumar

Designation :

Managing Director

Address :

3001-02, ERA II, Marathon Nextgen, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India

Date of Birth/Age :

08.04.1962

Qualification :

M.Com University of Madras, Master’s Degree in Management, XLRI Jamshedpur, Associate Member ICAI

Experience :

25 Years

Date of Appointment :

22.05.2009

DIN No.:

01173236

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	U65990MH1984PLC033929	TCS E-SERVE LIMITED	Nominee director	19/09/2005	19/09/2005	01/01/2009	Active	NO
2	U65921DL1997PLC090046	CITICORP MARUTI FINANCE LIMITED	Director	27/09/2005	27/09/2005	15/05/2008	Active	NO
3	U72200MH2004PLC148615	WIPRO TECHNOLOGY SERVICES LIMITED	Director	28/09/2005	28/09/2005	14/05/2008	Active	NO
4	U65910DL1997PLC086991	CITIFINANCIAL CONSUMER FINANCE INDIA LIMITED	Director	28/08/2006	28/08/2006	02/09/2008	Active	NO
5	U67120KA1991PTC059126	VISTAAR FINANCIAL SERVICES PRIVATE LIMITED	Director	29/08/2009	04/05/2009	15/03/2010	Active	NO
6	U45202KA2008PTC047156	VALUE AND BUDGET HOUSING CORPORATION PRIVATE LIMITED	Managing director	15/09/2009	22/05/2009	-	Active	NO
7	U45201KA2009PTC051022	VBHDC BANGALORE VALUE HOMES PRIVATE LIMITED	Director	24/09/2009	24/09/2009	18/03/2011	Active	NO
8	U65990KA2010PTC052353	HOME FIRST FINANCE COMPANY INDIA PRIVATE LIMITED	Director	03/02/2010	03/02/2010	-	Active	NO
9	U45300KA2010PTC053188	VBHC CHENNAI VALUE HOMES PRIVATE LIMITED	Director	12/04/2010	12/04/2010	18/03/2011	Active	NO
10	U45201KA2010PTC053386	VBHC DELHI VALUE HOMES PRIVATE LIMITED	Director	26/04/2010	26/04/2010	18/03/2011	Active	NO
11	U45201KA2010PTC053496	VBHC HYDERABAD VALUE HOMES PRIVATE LIMITED	Director	05/05/2010	05/05/2010	18/03/2011	Active	NO
12	U45201KA2010PTC053585	VBHC DELHI PROJECTS PRIVATE LIMITED	Director	11/05/2010	11/05/2010	18/03/2011	Active	NO
13	U80301KA2010PTC053882	VBHC EDUCATION SERVICES PRIVATE LIMITED	Director	01/06/2010	01/06/2010	18/03/2011	Active	NO
14	U45201KA2010PTC053889	VBHC MUMBAI VALUE HOMES PRIVATE LIMITED	Director	01/06/2010	01/06/2010	18/03/2011	Active	NO
15	U51109DL2000PTC107532	NETAMBIT INFOSOURCE AND E SERVICES PRIVATE LIMITED	Additional director	02/01/2012	02/01/2012	-	Active	NO

Name :

Mr. Mark Benton Fuller

Designation :

Director

Address :

155 Somerset Sreet, Belmont MA 02478

Date of Birth/Age :

19.09.1953

Date of Appointment :

17.09.2010

DIN No.:

02862466

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	U45202KA2008PTC047156	VALUE AND BUDGET HOUSING CORPORATION PRIVATE LIMITED	Director	17/09/2010	27/11/2009	Active	NO

Name :

Mr. Shankar Narayanan Madhava Menon

Designation :

Nominee Director

Address :

13^th Floor, Brindaban – III, Poonam Nagar, Off Mahakali Cave, Andheri (East), Mumbai – 400 093, Maharashtra, India

Date of Birth/Age :

08.09.1962

Date of Appointment :

09.08.2011

DIN No.:

00219212

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	U74140MH2000PTC167855	CARLYLE INDIA ADVISORS PRIVATE LIMITED	Managing director	22/12/2004	22/12/2004	-	Active	NO
2	U72400TN2004PTC054226	NEWGEN KNOWLEDGE WORKS PRIVATE LIMITED	Director	03/01/2005	03/01/2005	30/05/2011	Active	NO
3	U72900DL2003PTC120945	LEARNING MATE SOLUTIONS PRIVATE LIMITED	Director	03/01/2005	03/01/2005	05/06/2009	Active	NO
4	U80302KA2000PTC026760	QUEST GLOBAL MANUFACTURING PRIVATE LIMITED	Director	03/01/2005	03/01/2005	24/10/2007	Active	NO
5	U72200KA1998PTC023481	QUALITY ENGINEERING AND SOFTWARE TECHNOLOGIES PRIVATE LIMITED	Director	03/01/2005	03/01/2005	24/10/2007	Active	NO
6	U52599TN1991PTC020361	FINANCIAL SOFTWARE AND SYSTEMS PRIVATE LIMITED	Director	03/01/2005	03/01/2005	24/10/2008	Active	NO
7	U33209TN1996PTC035162	NEWGEN IMAGING SYSTEMS PRIVATE LIMITED	Director	05/01/2005	05/01/2005	-	Amalgamated	NO
8	L85110GJ1994PLC022543	CLARIS LIFESCIENCES LIMITED	Nominee director	29/05/2006	13/03/2006	03/07/2009	Active	NO
9	L72300TN1998PLC041033	ALLSEC TECHNOLOGIES LIMITED	Director	27/07/2007	25/01/2007	13/10/2011	Active	NO
10	U72900GJ1999PTC037038	ELITECORE TECHNOLOGIES PRIVATE LIMITED	Nominee director	21/09/2007	11/06/2007	-	Active	NO
11	L11200MH2005PLC154793	GREAT OFFSHORE LIMITED	Director	10/07/2008	18/10/2007	29/04/2009	Active	NO
12	U65922TN2000PLC044655	REPCO HOME FINANCE LIMITED	Nominee director	28/12/2007	28/12/2007	-	Active	NO
13	U72200TN2006PTC061754	GPSL INDIA PRIVATE LIMITED	Additional director	07/01/2009	07/01/2009	19/03/2011	Active	NO
14	U24100MH1985PLC037350	VISEN INDUSTRIES LIMITED	Nominee director	09/09/2011	11/06/2011	-	Active	NO
15	U45202KA2008PTC047156	VALUE AND BUDGET HOUSING CORPORATION PRIVATE LIMITED	Nominee director	06/09/2011	09/08/2011	-	Active	NO

Name :

Mr. Alok Chandra Misra

Designation :

Director

Address :

Flat No.14, Oorgaum House Apartment, 22, Vittal Mallya Road, Bangalore – 560 001, Karnataka, India

Date of Birth/Age :

05.11.1966

Date of Appointment :

17.09.2010

DIN No.:

01542028

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	U72200KA1997PTC023161	RELQ SOFTWARE PRIVATE LIMITED	Director	28/11/2007	26/06/2007	29/01/2008	Amalgamated	NO
2	U64202MH2003PTC189783	WNS CUSTOMER SOLUTIONS PRIVATE LIMITED	Director	29/09/2008	10/07/2008	26/11/2008	Amalgamated	NO
3	U72900MH2003PTC190542	NOIDA CUSTOMER OPERATIONS PRIVATE LIMITED	Additional director	06/08/2008	06/08/2008	-	Amalgamated	NO
4	U45202KA2008PTC047156	VALUE AND BUDGET HOUSING CORPORATION PRIVATE LIMITED	Director	17/09/2010	22/09/2009	-	Active	NO
5	U93000MH2011NPL212998	WNS CARES FOUNDATION	Additional director	07/02/2011	07/02/2011	-	Active	NO

Name :

Ms. Renu Sud Karnad

Designation :

Nominee Director

Address :

BB-14, Greater Kailash, Enclave-II, New Delhi – 110 048, India

Date of Birth/Age :

03.09.1952

Date of Appointment :

17.09.2010

DIN No.:

00008064

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	U74899DL1990PTC040630	FEEDBACK INFRASTRUCTURE SERVICES PRIVATE LIMITED	Nominee director	30/03/1998	30/03/1998	-	Active	NO
2	L70100MH1977PLC019916	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	Managing director	01/01/2010	03/05/2000	-	Active	NO
3	U74140MH2000PLC124897	HDFC REALTY LIMITED	Nominee director	27/06/2000	27/06/2000	13/05/2009	Active	NO
4	U65991MH1999PLC123027	HDFC ASSET MANAGEMENT COMPANY LIMITED	Director	11/07/2000	11/07/2000	-	Active	NO
5	L65923GJ1986PLC008809	GRUH FINANCE LIMITED	Director	28/07/2000	28/07/2000	-	Active	NO
6	U72300MH2000PLC128359	CREDIT INFORMATION BUREAU (INDIA) LIMITED	Director	20/02/2001	20/02/2001	-	Active	NO
7	U66010MH2002PLC134869	HDFC ERGO GENERAL INSURANCE COMPANY LIMITED	Director	08/02/2002	08/02/2002	-	Active	NO
8	L65920MH1994PLC080618	HDFC BANK LIMITED	Director	06/07/2011	17/07/2002	-	Active	NO
9	U15209DL2000PTC104671	MOTHER DAIRY FRUIT AND VEGETABLE PRIVATE LIMITED	Director	22/10/2002	22/10/2002	07/01/2010	Active	NO
10	L24292WB1954PLC021516	AKZO NOBEL INDIA LIMITED	Director	01/08/2003	01/08/2003	-	Active	NO
11	U99999MH2000PTC129112	INTELENET GLOBAL SERVICES PRIVATE LIMITED	Director	21/07/2004	21/07/2004	19/09/2007	Active	NO
12	U65920MH2004PTC144182	HDFC SALES PRIVATE LIMITED	Nominee director	08/09/2004	08/09/2004	-	Active	NO
13	U65991MH2004PLC149330	HDFC VENTURE CAPITAL LIMITED	Director	21/02/2005	21/02/2005	10/10/2011	Active	NO
14	L24232DL1988PLC030958	INDRAPRASTHA MEDICAL CORPORATION LIMITED	Director	31/08/2005	31/08/2005	-	Active	NO
15	U99999MH2000PLC128245	HDFC STANDARD LIFE INSURANCE COMPANY LIMITED	Director	25/01/2006	25/01/2006	-	Active	NO
16	U72900MH2005PLC157255	SPARSH BPO SERVICES LIMITED	Director	09/02/2006	09/02/2006	07/07/2011	Active	NO
17	U74140MH2006PLC165539	HDFC PROPERTY VENTURES LIMITED	Nominee director	14/11/2006	14/11/2006	-	Active	NO
18	L85110KA1951PLC000761	BOSCH LIMITED	Director	07/06/2007	01/04/2007	-	Active	NO
19	U67120DL1996PTC080556	G4S CORPORATE SERVICES (INDIA) PRIVATE LIMITED	Director	30/09/2009	13/11/2008	-	Active	NO
20	U45202KA2008PTC047156	VALUE AND BUDGET HOUSING CORPORATION PRIVATE LIMITED	Nominee director	17/09/2010	27/11/2009	-	Active	NO
21	U93090MH2010NPL208544	BHAVISHYA ALLIANCE CHILD NUTRITION INITIATIVES	Director	03/10/2010	03/10/2010	-	Active	NO
22	U65990MH2006PTC159411	CREDILA FINANCIAL SERVICES PRIVATE LIMITED	Nominee director	20/10/2010	20/10/2010	-	Active	NO
23	L24230GJ1972PLC002126	TORRENT PHARMACEUTICALS LIMITED	Director	30/07/2011	18/04/2011	10/10/2011	Active	NO
24	U26940MH1999PTC118229	LAFARGE INDIA PRIVATE LIMITED	Director	17/08/2011	17/08/2011	-	Active	NO
25	L55101WB1949PLC017981	EIH LIMITED	Additional director	31/10/2011	31/10/2011	-	Active	NO
26	U80301MH2011PTC224035	HDFC EDUCATION AND DEVELOPMENT SERVICES PRIVATE LIMITED	Director	17/11/2011	17/11/2011	-	Active	NO

Name :

Mr. Nikhil Prasad Ojha

Designation :

Alternate Director

Address :

3, Shanti Kunj, Behind Vasant Kunj, D3 Sector, New Delhi – 110 070, India

Date of Birth/Age :

12.11.1971

Date of Appointment :

20.12.2010

DIN No.:

01307908

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	U74140MH1997PTC158279	MONITOR INDIA PRIVATE LIMITED (TRF)	Whole-time director	01/04/2000	01/04/2000	26/03/2012	Active	NO
2	U45202KA2008PTC047156	VALUE AND BUDGET HOUSING CORPORATION PRIVATE LIMITED	Alternate director	20/12/2010	20/12/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Srinivas Thatikonda
Designation :	Secretary
Address :	G-3, S.V. Paradise, No.17, 8^th Cross, Nanjarasappa Layout, Nagar Bhavi Road, Chandra Layout, Bangalore – 560 072, Karnataka, India
Date of Birth/Age :	25.05.1974
Date of Appointment :	01.08.2011
PAN No.:	ACBPT2189G
Name :	Mr. Alejandro R. Morales
Designation :	Chief Construction Technology Officer
Name :	Mr. Pramod Kumar
Designation :	Executive Director
Name :	Ms. Priya Krishnan
Designation :	Chief Executive Officer – Education Services

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 06.09.2011

Names of Shareholders	No. of Shares
Jaithirth Rao	1391000
P.S. Jayakumar	778069
Sunil Narayan	153371
Madhavi Soman	10421
Pramod Kumar	10421
Debanada Pati	10000
Siya Kondapalli	10000
Bhaskar Chaudhry	10421
Sabre Investment Advisor India Private Limited, India	38462
Zia Mody	60120
Ashoke Dutt	20040
Rajive Johri HUF (through its Karta)	40081
Hemendra Kothari	80161
Mohan Krishnan	20040
Steven Pinto and Asha Pinto	20040
Victor Menezes	38462
Rana Pradeep Kashyap	40081
Rajesh Kamaljit Singh	40081
Deepak Sharma	40081
Venkatchalam and Aditi Krishnakumar	51271
Davinder Singh Brar	38462
Ashish Dhawan	200402
Hema Ravichandar and V Ravichandar	40081
Satpal Singh Khattar	70462
Eicher Goodearth Private Limited, India	200402
Rajesh Patil	19231
Errol Fernandes	76923
Valdel Engineers and Constructors Private Limited, India	40081
K. Mahalingam, K. Ram Kumar, K. Ravishankar, N. Balasubramaniam and A. Sekar	20040
Priya Krishnan	20040
Aditi Malik	20040
Santokh Singh Kalra and Veena Kalra	11538
Rajeev Talwar	7692
Dinaz Ramesh	20040
Kaushal Aggrawal	9388
Ranu Vohra	4808
Avendus Capital Private Limited, India	9754
Housing Development Finance Corporation Limited, India	463280
India Financial Inclusion Fund, Republic of Mauritius	463280
Nadathur Srinivasa Raghavan (representing Kalpa Partners)	189394
First Carlyle Growth IX , Mauritius	1155304

As on 28.06.2012

Names of Allottee	No. of Shares
Siva Nagendra Prasad Kondapalli	4000
Total	4000

As on 04.01.2012

Names of Allottees	No. of Shares
Madhava Menon Shankar Narayanan	1225
Mahesh Parasuraman	122
Manish Gaur	122
Nikhil Mohta	122
Kapil Modi	61
Total	1652

As on 26.12.2011

Names of Allottee	No. of Shares
First Carlyle Growth IX , Mauritius	189394
Total	189394

As on 22.11.2011

Names of Allottees	No. of Shares
India Financial Inclusion Fund, Republic of Mauritius	94697
Housing Development Finance Corporation Limited, India	189394
Eicher Goodearth Private Limited, India	12343
K. Mahalingam, K. Ram Kumar, K. Ravishankar, N. Balasubramaniam and A. Sekar	1234
Ashoke Dutt	1234
Hemendra Kothari	4937
Sabre Investment Advisor India Private Limited, India	2369
Bhaskar Chaudhry	100
Mohan Krishnan	1234
Total	307542

As on 06.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	38.95
Directors or relatives of directors	38.16
Other top fifty shareholders	22.89
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the planning, design, and construction of budget homes.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Unsecured loans from Directors (The above loans are interest free and are repayable on demand)	0.000	0.500
Total	0.000	0.500

Banking Relations :	--
Auditors :
Name :	B S R and Company Chartered Accountants
Address :	Maruthi Info-Tech Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore – 560 071, Karnataka, India
Tel. No.:	91-80-39806000
Fax No.:	91-80-39806999
Income-tax PAN of auditor or auditor's firm :	AAIFB7357B
Subsidiary Companies :	v VBHDC Bangalore Value Homes Private Limited (CIN No.: U45201KA2009PTC051022) v VBHC Chennai Value Homes Private Limited (CIN No.: U45300KA2010PTC053188) v VBHC Delhi Value Homes Private Limited (CIN No.: U45201KA2010PTC053386) v VBHC Delhi Projects Private Limited (CIN No.: U45201KA2010PTC053585) v VBHC Mumbai Value Homes Private Limited (CIN No.: U45201KA2010PTC053889) v VBHC Hyderabad Value Homes Private Limited (CIN No.: VBHC Hyderabad Value Homes Private Limited) v VBHC Education Services Private Limited (CIN No.: U80301KA2010PTC053882)

CAPITAL STRUCTURE

After 06.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs.500.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6588151	Equity Shares	Rs.10/- each	Rs.65.882 millions

As on 06.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs.500.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6085563	Equity Shares	Rs.10/- each	Rs.60.856 millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs.500.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4632800	Equity Shares	Rs.10/- each	Rs.46.328 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		46.328	489.200	0.600
2] Share Application Money Pending Allotment		150.001	0.000	0.000
3] Reserves & Surplus		724.306	0.000	0.000
4] (Accumulated Losses)		(112.470)	(57.401)	(4.689)
NETWORTH		808.165	431.799	(4.089)
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.500	4.269
TOTAL BORROWING		0.000	0.500	4.269
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		808.165	432.299	0.180
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		25.970	8.942	0.000
Capital work-in-progress		0.000	53.803	0.000
INVESTMENT		119.277	266.320	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	15.722	17.400	0.251
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	655.029	92.170	0.321
Total Current Assets		670.751	109.570	0.572
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.892	13.267	0.332
	Other Current Liabilities	2.242	0.000	0.060
	Provisions	2.829	0.292	0.000
Total Current Liabilities		13.963	13.559	0.392
Net Current Assets		656.788	96.011	0.180
MISCELLANEOUS EXPENSES		6.130	7.223	0.000
TOTAL		808.165	432.299	0.180

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	68.926	6.804	0.000
		Other Income
		TOTAL	68.926	6.804	0.000
Less	EXPENSES
		Office Expenses	123.995	59.516	4.689
		Administrative Expenses
		Advertising Expenses
		TOTAL	123.995	59.516	4.689
	PROFIT/ (LOSS) BEFORE TAX		(55.069)	(52.712)	(4.689)
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		(55.069)	(52.712)	(4.689)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(57.401)	(4.689)	0.000
	BALANCE CARRIED TO THE B/S		NA	(57.401)	(4.689)
	Earnings/ (Loss) Per Share (Rs.)		(15.95)	(0.74)	(120.00)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(79.90)	(774.72)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(7.90)	(44.48)	(819.76)
Return on Investment (ROI) (PBT/Networth)		(0.07)	(0.12)	1.15
Debt Equity Ratio (Total Liability/Networth)		0.02	0.03	(1.14)
Current Ratio (Current Asset/Current Liability)		48.04	8.08	1.46

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	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	Yes
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	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
31) PAN of Proprietor/Partner/Director, if available	No
32) Passport No of Proprietor/Partner/Director, if available	No
33) Voter ID No of Proprietor/Partner/Director, if available	No

Note:

The registered office of the company has been shifted from #263, 4^th Main, Mahalakshmi Layout, Bangalore – 560 086, Karnataka to the present address w.e.f. 14.01.2010.

FINANCIAL HIGHLIGHTS:

During the year, the Company has incurred a loss of Rs.55.069 millions as against previous year’s loss of Rs.52.712 millions.

FIXED ASSETS:

Tangible Assets

v Computers

v Office Equipment

v Furniture and Fixtures

v Motor Vehicle

Intangible Assets

v Computer Software

v Website

v Construction Know-how

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.55.95
UK Pound	1	Rs.86.55
Euro	1	Rs.67.95

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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	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	YES
--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.