MIRA INFORM REPORT

Report Date :

28.07.2012

IDENTIFICATION DETAILS

Name :	ARTLITE ILLUMINATION PRIVATE LIMITED
Registered Office :	Khasra No. 452, Neb Sarai, Near Ignou, New Delhi-110068
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.10.1995
Com. Reg. No.:	55-073455
Capital Investment / Paid-up Capital :	Rs.0.963 Millions
CIN No.: [Company Identification No.]	U74899DL1995PTC073455
TAN No.: [Tax Deduction & Collection Account No.]	DELA12017F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter, Importer and Supplier of Fluorescent Light Fittings, Small Crystal Chandelier, Underwater Fountain Light, Spiral CFI Light, Lightning Arrestors, Electrical Appliances, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 240000
Status :	Satisfactory
Payment Behaviour :	Usually 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 usually correct and as per commitments. The company can be considered can be for normal 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

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 :	Khasra No. 452, Neb Sarai, Near Ignou, New Delhi-110068, India
Tel. No.:	91-11-29534899/65686891
Fax No.:	91-11-26806479/29533813/26513813/26852329
E-Mail :	ajay.kanjalia@gmail.com

DIRECTORS

As on 23.09.2011

Name :

Mr. Gordhan R. Rohra

Designation :

Director

Address :

E-8, Saket, New Delhi, India

Date of Appointment :

27.10.1995

Din No.:

00278612

Name :

Mr. Sandeep R. Rohra

Designation :

Director

Address :

E-8, Saket, New Delhi, India

Date of Birth/Age :

20.10.1964

Date of Appointment :

27.10.1995

Din No.:

00278658

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	U74899DL1995PTC073455	ARTLITE ILLUMINATION PRIVATE LIMITED	Director	27/10/1995	27/10/1995	Active	NO
2	U74999MH2003PTC141896	SHRIYAM FINANCIAL PLANNERS AND EDUCATION PRIVATE LIMITED	Director	08/12/2010	08/12/2010	Active	NO
3	U31908DL2010PTC198064	SADGURU ILLUMINATIONS PRIVATE LIMITED	Director	19/03/2012	19/03/2012	Active	NO

Name :

Mr. Amit Rohra

Designation :

Director

Address :

E-8, Saket, New Delhi, India

Date of Appointment :

10.06.2011

Din No.:

02806672

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	U31908DL2010PTC198064	SADGURU ILLUMINATIONS PRIVATE LIMITED	Director	15/01/2010	15/01/2010	Active	NO
2	U74899DL1995PTC073455	ARTLITE ILLUMINATION PRIVATE LIMITED	Director	10/06/2011	10/06/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.09.2011

Names of Shareholders	No. of Shares
Gordhan R. Rohra	95100
Sandeep R. Rohra	1000
Gordhan R. Rohra HUF	200
Total	96300

As on 23.09.2011

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

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter, Importer and Supplier of Fluorescent Light Fittings, Small Crystal Chandelier, Underwater Fountain Light, Spiral CFI Light, Lightning Arrestors, Electrical Appliances, etc.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Syndicate Bank, Khan Market, New Delhi-110003, India

Facilities :

SECURED LOAN	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Kotak Mahindra Prime Limited (Car)	0.737	0.000
Syndicate Bank OD A/C 90431250000878	12.257	6.310
Total	12.994	6.310
UNSECURED LOAN
Gordhan R. Rohra	6.977	7.927
Gordhandass and Sons HUF	1.814	1.637
Sandeep R. Rohra	17.055	15.156
Total	25.846	24.720

Banking Relations :	--
Auditors :
Name :	Ajay Gupta Chartered Accountant
Address :	3605, Street No. 8, Vishwas Nagar, Shahdara, New Delhi-110032, India
Pan No.:	AAEPG8809M

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
96300	Equity Shares	Rs.10/- each	Rs.0.963 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		0.963	0.963	0.963
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		59.581	43.699	38.519
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		60.544	44.662	39.482
LOAN FUNDS
1] Secured Loans		12.994	6.310	7.745
2] Unsecured Loans		25.846	24.720	19.796
TOTAL BORROWING		38.840	31.030	27.541
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		99.384	75.692	67.023
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.120	5.059	5.140
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.588	0.343	0.495
DEFERREX TAX ASSETS		0.301	0.291	0.125
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	114.145	71.032	43.653
	Sundry Debtors	38.409	35.048	40.470
	Cash & Bank Balances	0.755	3.874	2.218
	Other Current Assets	14.016	9.398	25.431
	Loans & Advances	12.131	10.453	10.034
Total Current Assets		179.456	129.805	121.806
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	68.232	46.940
	Other Current Liabilities	7.107	5.392	43.100
	Provisions	13.742	7.474	17.443
Total Current Liabilities		89.081	59.806	60.543
Net Current Assets		90.375	69.999	61.263
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		99.384	75.692	67.023

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	403.183	221.084
Less	EXPENSES
		Office Expenses
		Administrative Expenses	378.348	213.243
		Advertising Expenses
		TOTAL	378.348	213.243
	PROFIT / (LOSS) BEFORE TAX		24.835	7.841
Less	TAX		8.953	2.661
	PROFIT / (LOSS) AFTER TAX		15.882	5.180
	Earnings / (Loss) Per Share (Rs.)		164.92	53.78

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.94	2.34	NA
Return on Total Assets (PBT/Total Assets}	(%)	13.23	5.81	NA
Return on Investment (ROI) (PBT/Networth)		0.41	0.17	NA
Debt Equity Ratio (Total Liability/Networth)		2.11	2.03	2.23
Current Ratio (Current Asset/Current Liability)		2.01	2.17	2.01

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 two years	Yes
12) Profitability for last two 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) 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

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	90063390
Corporate identity number of the company	U74899DL1995PTC073455
Name of the company	ARTLITE ILLUMINATION PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Khasra No. 452, Neb Sarai, Near Ignou, New Delhi-110068, India
Type of charge	Book Debts Movable Property [not being pledge]
Particular of charge holder	Syndicate Bank, Khan Market, New Delhi-110003, India
Email	dl.9043delkhanmkt@syndicatebank.co.in
Nature of description of the instrument creating or modifying the charge	Composite Hypothecation Agreement.
Date of instrument Creating the charge	17.12.2011
Amount secured by the charge	Rs.20.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest ROI shall be charged on SODH at Syndicate Bank Base Rate+3.75% presently at 14.50% p. a. with compounded monthly rests or at such other rates as may be specified by the bank from time to time. Terms of Repayment Payable on demand. Margin Stock and book-debts to cover 110% of the value of the total limit. Extent and Operation of the charge The hypothecation of stock and Book-debts of the company is to secure SODH limit of Rs.20.000 Millions sanctioned by Syndicate Bank to the company.
Short particulars of the property charged	Hypothecation of stocks consisting of fancy lights. lamps, ballasts lighting fixtures etc to be stored at borrower premises at Khasra No.452A NEB Sarai, Near Ignou New Delhi-110068 B-52 Indra Enclave New Delhi-110068. Or at any other places belonging to the company. Hypothecation of book-debts /receivables of the company both present and future.
Particulars of the present modification	By present sanction, the SODH limit stands enhanced from Rs.15.000 Millions to Rs.20.000 Millions and continues to be secured by hypothecation of current assets of the company

FIXED ASSETS:

· Fixture and Furniture

· Renovation Mumbai Office

· Renovation Gurgaon Office

· Renovation Furniture

· Air Conditioner

· Car

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.55.41
UK Pound	1	Rs.86.93
Euro	1	Rs.68.10

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
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		46

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.