MIRA INFORM REPORT

Report Date :

07.06.2012

IDENTIFICATION DETAILS

Name :	AISHWARYA MARKTRADE (INDIA) PRIVATE LIMITED
Registered Office :	7-B-3, Giriraj Building, Ground Floor, Iron Market, Carnac Bunder, Mumbai-400009, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.08.1999
Com. Reg. No.:	11-121190
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U51900MH1999PTC121190
TAN No.: [Tax Deduction & Collection Account No.]	MUMA21003D
PAN No.: [Permanent Account No.]	AACCA7112J
Legal Form :	Private Limited Liability Company
Line of Business :	Trading Activity.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

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 :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears huge accumulated losses recorded by the company. Newworth of the company is completely eroded. However, business is active. Payments are reported to be slow. The company can be considered for business dealings on a fully safe and secured 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 (30.06.2011)	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

LOCATIONS

Registered Office :	7-B-3, Giriraj Building, Ground Floor, Iron Market, Carnac Bunder, Mumbai-400009, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	aishwarya.marktrade123@gmail.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Sunil Gangrade

Designation :

Director

Address :

267, Tilak Nagar, Indore, Madhya Pradesh, India

Date of Birth/Age :

19.10.1965

Date of Appointment :

09.08.1999

Din No.:

00169221

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U51900MH1995PTC095688	UDAYAN MERCANTILE PRIVATE LIMITED	Director	01-03-96	01-03-96	-	Active	NO
2	U51900MH1998PTC117276	PLACID TRADELINKS PRIVATE LIMITED	Director	30-03-99	30-03-99	-	Active	NO
3	U51900MH1999PTC120874	JAVA IMPEX PRIVATE LIMITED	Director	19-07-99	19-07-99	-	Active	NO
4	U51900MH1999PTC120907	YATISH IMPEX PRIVATE LIMITED	Director	21-07-99	21-07-99	-	Active	NO
5	U51900MH1999PTC121190	AISHWARYA MARKTRADE (INDIA) PRIVATE LIMITED	Director	09-08-99	09-08-99	-	Active	NO
6	U51900MH1998PTC115705	NOVA TRADING PRIVATE LIMITED	Director	30-09-99	30-09-99	22-10-10	Active	NO

Name :

Mr. Ram Ratan Khandelwal

Designation :

Director

Address :

13, Pagnis Paga, Indore, Madhya Pradesh, India

Date of Birth/Age :

13.09.1969

Date of Appointment :

15.03.2009

Din No.:

02115098

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U51900MH1998PTC115714	NIRVANA TRADING PRIVATE LIMITED	Director	18-08-02	18-08-02	-	Dormant	NO
2	U51900MH1999PTC120711	IMPERIAL MARKTRADE (INDIA) PRIVATE LIMITED	Director	10-04-08	10-04-08	-	Active	NO
3	U51900MH1995PTC094672	KULDEEP OVERSEAS PRIVATE LIMITED	Director	30-09-09	18-11-08	-	Active	NO
4	U51900MH1999PTC121190	AISHWARYA MARKTRADE (INDIA) PRIVATE LIMITED	Director	15-03-09	15-03-09	-	Active	NO
5	U51909MH2002PTC136378	STRIDE MULTITRADE PRIVATE LIMITED	Director	30-03-09	30-03-09	25-04-12	Active	NO
6	U51909MH2002PTC135605	AMRAPALI TRADING PRIVATE LIMITED	Director	30-03-09	30-03-09	-	Active	NO
7	U51909MH2002PTC136382	EMPIRE MULTITRADE PRIVATE LIMITED	Director	30-03-09	30-03-09	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Sunil Gangrade	1000
Manish Khandelwal	1000
Minerva Tradelinks Private Limited, India	2000
Jayline Trading Company Private Limited, India	2000
Inu Exports Private Limited, India	2000
Placid Tradelinks Private Limited, India	2000
Total	10000

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	80.00
Directors or relatives of directors	10.00
Other top fifty shareholders	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading Activity.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	S.B. Patidar and Company Chartered Accountants
Address :	A/L-474, Housing Board Colony, Pithampur, Dhar-454774, Madhya Pradesh, India
Pan No.:	ABFFS4018J

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 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		0.000	0.000	0.000
4] (Accumulated Losses)		(305.958)	(306.059)	(306.394)
NETWORTH		(305.858)	(305.959)	(306.294)
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		0.000	0.000	0.000
TOTAL		(305.858)	(305.959)	(306.294)
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.025	0.025	0.025
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	85.528	85.424	61.642
	Cash & Bank Balances	0.794	0.630	0.824
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.331	0.311	0.296
Total Current Assets		86.653	86.365	62.762
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	392.422	392.243	369.007
	Other Current Liabilities	0.004	0.000	0.000
	Provisions	0.110	0.106	0.074
Total Current Liabilities		392.536	392.349	369.081
Net Current Assets		(305.883)	(305.984)	(306.319)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		(305.858)	(305.959)	(306.294)

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	317.043	216.115	1.234
Less	EXPENSES
		Purchase	316.688	215.772	1.110
		Administrative Expenses	0.249	0.230
		TOTAL	316.937	216.002	1.110
	PROFIT / (LOSS) BEFORE TAX		0.105	0.113	0.124
Less	TAX		0.000	0.000	0.000
	PROFIT / (LOSS) AFTER TAX		0.105	0.113	0.124
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(306.059)	(306.409)	NA
Less	PROVISION FOR INCOME TAX		0.020	0.017	NA
Add	EXCESS PROVISION IN EARLIER YEAR RESERVE		0.016	0.000	NA
Add	REFUND FOR EARLIER YEARS		0.000	0.254	NA
	BALANCE CARRIED TO THE B/S		(305.958)	(306.059)	NA
	Earnings / (Loss) Per Share (Rs.)		10.50	11.30	12.40

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.03	0.05	10.05
Return on Total Assets (PBT/Total Assets}	(%)	0.12	0.13	0.20
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00
Debt Equity Ratio (Total Liability/Networth)		(1.28)	(1.28)	(1.20)
Current Ratio (Current Asset/Current Liability)		0.22	0.22	0.17

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	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	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

BUSINESS REVIEW:

During the period, the company was able to earn revenue through sales and services of Rs. 317.043 Millions as compared to the last year sales and services which was Rs.216.115 Millions and profit for the year Rs.0.105 Million.

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.55.50
UK Pound	1	Rs.85.57
Euro	1	Rs.69.30

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	-
--LEVERAGE	1~10	1
--RESERVES	1~10	-
--CREDIT LINES	1~10	1
--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		12

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.