1. Summary Information

		Country	India
Company Name	PREMIER MERCHANTS PRIVATE LIMITED	Principal Name 1	Mr. Ramesh Chandra Agarwal
Status	Satisfactory	Principal Name 2	Mr. Lal Madan Agarwal
		Registration #	21-81082
Street Address	13, Satyen Dutta Road, Kolkata-700029, West Bengal, India
Established Date	27.08.1996	SIC Code	--
Telephone#	91-33-24648668/ 22346028	Business Style 1	Real Estate Business
Fax #	91-33-24648670	Business Style 2	--
Homepage	--	Product Name 1	--
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.550,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors- 100%	Banking	ING Vysya Bank Limited
Public Limited Corp.	No	Business Period	16 years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	Ba (45)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	123,102,000	Current Liabilities	117,807,000
Inventories	103,483,000	Long-term Liabilities	114,143,000
Fixed Assets	21,044,000	Other Liabilities	1,958,000
Deferred Assets	000	Total Liabilities	233,908,000
Invest& other Assets	8,244,000	Retained Earnings	21,415,000
		Net Worth	21,965,000
Total Assets	255,873,000	Total Liab. & Equity	255,873,000
Total Assets (Previous Year)	68,323,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales / Total Income	765,285,000	Net Profit	3,830,000
Sales(Previous yr)	1,050,973,000	Net Profit(Prev.yr)	4,686,000

MIRA INFORM REPORT

Report Date :

20.06.2012

IDENTIFICATION DETAILS

Name :	PREMIER MERCHANTS PRIVATE LIMITED
Registered Office :	13, Satyen Dutta Road, Kolkata-700029, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.08.1996
Com. Reg. No.:	21-81082
Capital Investment / Paid-up Capital :	Rs.0.550 Million
CIN No.: [Company Identification No.]	U70109WB1996PTC081082
TAN No.: [Tax Deduction & Collection Account No.]	CALP04494A
Legal Form :	Private Limited Liability Company.
Line of Business :	Real Estate Business.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 87000
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 normal for 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 (30.06.2011)	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 :	13, Satyen Dutta Road, Kolkata-700029, West Bengal, India
Tel. No.:	91-33-24648668/ 22346028
Fax No.:	91-33-24648670
E-Mail :	premier@cal2vsnl.net.in canatwar@gmail.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Ramesh Chandra Agarwal

Designation :

Director

Address :

13, Satyen Dutta Road, Kolkata - 700029, West Bengal, India

Date of Birth/Age :

22.03.1961

Date of Appointment :

27.08.1996

Din No.:

01173052

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	U70109WB1996PTC081082	PREMIER MERCHANTS PRIVATE LIMITED	Director	27-08-96	27-08-96	Active	NO
2	U45201WB1997PTC084613	PREMIER NIRMAN PRIVATE LIMITED	Director	11-06-97	11-06-97	Active	NO
3	U70200WB1991PTC052190	ARCHANA CONSTRUCTION PRIVATE LIMITED	Director	30-03-99	30-03-99	Active	NO
4	U51109WB1995PTC076118	ANKLESH FINANCIAL CONSULTANTS PRIVATE LIMITED	Director	26-03-09	26-03-09	Active	NO
5	U51900WB2000PTC092217	PROGRESSIVE DEALTRADE PRIVATE LIMITED	Director	05-12-09	05-12-09	Active	NO
6	U51909WB2009PTC138324	CHETANA JEWELS PRIVATE LIMITED	Director	15-04-10	15-04-10	Active	NO
7	U50102WB2010PTC152096	PREMIER CARWORLD PRIVATE LIMITED	Director	09-08-10	09-08-10	Active	NO

Name :

Mrs. Sarita Agarwal

Designation :

Director

Address :

13, Satyen Dutta Road, Kolkata - 700029, West Bengal, India

Date of Birth/Age :

26.04.1963

Date of Appointment :

15.12.2003

Din No.:

00859040

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	U45201WB1997PTC084613	PREMIER NIRMAN PRIVATE LIMITED	Director	14-04-99	14-04-99	Active	NO
2	U70109WB1996PTC081082	PREMIER MERCHANTS PRIVATE LIMITED	Director	15-12-03	15-12-03	Active	NO
3	U70200WB1991PTC052190	ARCHANA CONSTRUCTION PRIVATE LIMITED	Director	01-12-04	01-12-04	Active	NO
4	U51109WB1995PTC076118	ANKLESH FINANCIAL CONSULTANTS PRIVATE LIMITED	Director	26-03-09	26-03-09	Active	NO
5	U51909WB2009PTC138324	CHETANA JEWELS PRIVATE LIMITED	Director	15-04-10	15-04-10	Active	NO
6	U50102WB2010PTC152096	PREMIER CARWORLD PRIVATE LIMITED	Director	09-08-10	09-08-10	Active	NO

Name :

Mr. Abhishek Agarwal

Designation :

Director

Address :

13, Satyen Dutta Road, Kolkata - 700029, West Bengal, India

Date of Birth/Age :

08.03.1983

Date of Appointment :

11.03.2011

Din No.:

03080026

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	U50102WB2010PTC152096	PREMIER CARWORLD PRIVATE LIMITED	Director	09-08-10	09-08-10	Active	NO
2	U45201WB1997PTC084613	PREMIER NIRMAN PRIVATE LIMITED	Director	01-09-10	01-09-10	Active	NO
3	U70200WB1991PTC052190	ARCHANA CONSTRUCTION PRIVATE LIMITED	Director	01-09-10	01-09-10	Active	NO
4	U70109WB1996PTC081082	PREMIER MERCHANTS PRIVATE LIMITED	Director	11-03-11	11-03-11	Active	NO

Name :

Mr. Madan Lal Agarwal

Designation :

Director

Address :

13, Satyen Dutta Road, Kolkata - 700029, West Bengal, India

Date of Birth/Age :

01.04.1942

Date of Appointment :

27.08.1996

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Ramesh Chandra Agarwal	10000
Madan Lal Agarwal	10000
Abhishek Agarwal	10000
Abhinav Agarwal	10000
Ankita Agarwal	10000
Archana Construction Private Limited, India	5000
Total	55000

As on 30.09.2011

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

BUSINESS DETAILS

Line of Business :

Real Estate Business.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ING Vysya Bank Limited, Rajkamal, 128,Rash Behari Avenue, First Floor, Kolkata-700029, West Bengal, India

· The Fedral Bank Limited, Kuriakose Conil, 11 Clive Row, Kolkata-700001, West Bengal, India

· HDFC Bank Limited

· State Bank of India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
ING Vysya Bank Limited (Secured against Book Debts and Stocks)	33.015	8.046
L and T Finance Limited (Secured by pledge of debenture)	2.276	2.276
Kotak Mahindra Prime Limited (Secured by equitable mortgage of immovable property)	20.136	0.000
Total	55.427	10.322
Unsecured Loan
From Body Corporate	42.136	9.000
From Directors/Relatives	16.580	12.893
Total	58.716	21.893

Banking Relations :	--
Financial Institution :	Kotak Mahindra Prime Limited, 36-38A, Nariman Bhavan, 227, Nariman Point, Mumbai-400021, Maharashtra, India
Auditors :
Name :	Girdhari Sharma and Company Chartered Accountants
Address :	62, Bentick Street, Kolkata-700069, West Bengal, India
Pan No.:	AAEFG5540K

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
55000	Equity Shares	Rs.10/- each	Rs.0.550 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		0.550	0.550	0.550
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		21.415	17.585	12.866
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		21.965	18.135	13.416
LOAN FUNDS
1] Secured Loans		55.427	10.322	23.624
2] Unsecured Loans		58.716	21.893	28.380
TOTAL BORROWING		114.143	32.215	52.004
DEFERRED TAX LIABILITIES		0.079	0.105	0.138
TOTAL		136.187	50.455	65.558
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		21.044	10.556	6.509
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		8.192	6.841	6.125
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	103.483	15.965	24.265
	Sundry Debtors	35.038	11.482	34.093
	Cash & Bank Balances	3.827	0.708	1.585
	Other Current Assets	0.553	0.553	0.859
	Loans & Advances	83.684	22.140	3.690
Total Current Assets		226.585	50.848	64.492
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	107.898	11.904	1.799
	Other Current Liabilities	9.909	2.730	7.598
	Provisions	1.879	3.234	2.275
Total Current Liabilities		119.686	17.868	11.672
Net Current Assets		106.899	32.980	52.820
MISCELLANEOUS EXPENSES		0.052	0.078	0.104
TOTAL		136.187	50.455	65.558

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		1050.973	1285.630
		Other Income		65.121	14.597
		TOTAL (A)	765.285	1116.094	1300.227
Less	EXPENSES
		Cost of Goods Sold		1031.468	1262.063
		Administrative Expenses	759.602	12.879	9.696
		Selling and Distribution Expenses		55.101	14.187
		Payment Employees		3.568	0.000
		TOTAL (B)	759.602 [Including Financial Charges and Depreciation]	1103.016	1285.946
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I			13.078	14.281
Less	FINANCIAL EXPENSES (D)			4.960	7.046
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			8.118	7.235
Less/ Add	DEPRECIATION/ AMORTISATION (F)			0.997	0.556
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		5.683	7.113	6.679
Less	TAX (H)		1.853	2.427	2.086
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		3.830	4.686	4.593
	Earnings / (Loss) Per Share (Rs.)		69.64	8.52	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.50	0.42	0.35
Net Profit Margin (PBT/Sales)	(%)	NA	0.68	0.52
Return on Total Assets (PBT/Total Assets}	(%)	2.29	11.58	9.41
Return on Investment (ROI) (PBT/Networth)		0.25	0.39	0.50
Debt Equity Ratio (Total Liability/Networth)		10.64	2.76	4.75
Current Ratio (Current Asset/Current Liability)		1.89	2.85	5.53

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	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

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U70109WB1996PTC081082
Name of the company	PREMIER MERCHANTS PVT LTD
Address of the registered office or of the principal place of business in India of the company	13, Satyen Dutta Road, Kolkata-700029, West Bengal, India
Type of charge	Immovable Property
Particular of charge holder	Kotak Mahindra Prime Limited, 36-38A, Nariman Bhavan, 227, Nariman Point, Mumbai-400021, Maharashtra, India
Email	harish.shah@kotak.com
Nature of description of the instrument creating or modifying the charge	Deed Of Memorandum of Title Deposit
Date of instrument Creating the charge	17.05.2011
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 The term loan is proposed to be charged at 10.75% linked to KMB PLR. (Currently KMB PLR is 16.75%) Terms of Repayment The Term Loan repayable in 60 monthly installments. Extent and Operation of the charge The charges operate Pari passu with Kotak Mahindra Bank Ltd as security, inter alia, for the due payment and discharge by the Company to Kotak Mahindra Prime Limited of financial facility aggregating to limit of Rs. 20.000 Millions together with interest, costs, charges, expenses and all other money payable by it to Kotak Mahindra Prime Limited under the relevant documents. Charge is a continuous charge.
Short particulars of the property charged	All that basement area measuring 20183.00 Sq. Fts., in 'Prithvi Plaza' Bldg., Dag No. 1149-1151, situated at Agarpara, Panihati Municipality in Ward No 7 Holding No. 92F, B.T. Road, Panihati, Kolkata.

FIXED ASSETS:

· Land at Bombay Road

· Office Flat

· Warehouse

· Air Condition

· Fax Machine

· Water Pump

· Furniture, Fixture and Decoration

· Computers and Accessories

· Generator

· Motor Bike

· Motor Car

· Office Equipment

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.56.01
UK Pound	1	Rs.87.85
Euro	1	Rs.70.54

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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		45

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.