MIRA INFORM REPORT

Report Date :

23.06.2012

IDENTIFICATION DETAILS

Name :	ZUARI HOLDINGS LIMITED
Registered Office :	Jai Kissan Bhawan, Zuarinagar, Goa – 403 726
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.09.2009
Com. Reg. No.:	24-006177
Capital Investment / Paid-up Capital :	Rs.20.000 Millions
CIN No.: [Company Identification No.]	U65910GA2009PLC006177
TAN No.: [Tax Deduction & Collection Account No.]	BLRZ11011A
PAN No.: [Permanent Account No.]	AAACZ3924H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Seller of fertilisers and other related products.
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 79000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses in the records during the current year. Business is active. Payments are reported to be slow. The company can be considered for business dealing with some 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 – 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/ Corporate Office:	Jai Kissan Bhawan, Zuarinagar, Goa – 403 726, India
Tel. No.:	91-832-2592180/ 2592431
Fax No.:	91-832-2555279
E-Mail :	ryp@zuari.co.in
Website:	http://www.zuari.co.in

DIRECTORS

As on 12.05.2011

Name :

Mr. Narayanan Suresh Krishnan

Designation :

Director

Address :

B 1, ZIL Colony, Zuarinagar, Goa – 403 726, India

Date of Birth/Age :

03.06.1964

Qualification :

B.E. (Hons), M.Sc

Date of Appointment :

10.09.2009

DIN No.:

00021965

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	U40109AP2005PLC046893	Sitapuram Power Limited	Director	18-07-05	18-07-05	20-10-08	Active	NO
2	U26942AP2000PLC050415	Zuari Cement Limited	Director	07-02-06	07-02-06	06-12-06	Active	NO
3	U24124GA2002PLC003064	Zuari Maroc Phosphates Limited	Managing director	24-09-07	08-11-06	-	Active	NO
4	U66010GA2003PLC003185	Zuari Insurance Brokers Limited	Director	07-09-07	13-11-06	22-09-10	Active	NO
5	U74900GA2006PLC004921	Zuari Management Services Limited	Director	06-12-06	06-12-06	-	Active	NO
6	U11202GA2000PLC002869	Zuari Indian Oiltanking Limited	Director	26-09-08	12-12-06	-	Active	NO
7	U01122GA1995PLC001751	Zuari Seeds Limited	Director	24-09-07	15-03-07	-	Active	NO
8	U72200GA2000PLC002922	Indian Furniture Products Limited	Director	07-09-07	26-03-07	-	Active	NO
9	U65993GA1995PLC001942	Zuari Investments Limited	Director	07-09-07	07-09-07	-	Active	NO
10	U26941KA2007PLC054428	Gulbarga Cement Limited	Director	30-10-07	30-10-07	-	Active	NO
11	U01409GA2007PLC005489	Zuari Rotem Speciality Fertilizers Limited	Director	28-12-09	15-11-07	11-07-11	Active	NO
12	U45309KA2007PLC043161	Adventz Infraworld India Limited	Director	19-09-08	11-12-07	-	Active	NO
13	U65100DL2008PLC180229	Zuari Financial Services Limited	Director	27-06-08	27-06-08	10-08-10	Active	NO
14	U27205DL2008PLC180160	Zuari Commodity Trading Limited	Director	27-06-08	27-06-08	10-08-10	Active	NO
15	U24120GA2009PLC006158	Zuari Fertilisers and Chemicals Limited	Director	11-08-09	11-08-09	-	Active	NO
16	U65910GA2009PLC006177	Zuari Holdings Limited	Managing director	01-04-12	10-09-09	-	Active	NO
17	U74900GA2010PLC006413	Adventz Industries India Limited	Director	14-06-10	14-06-10	-	Active	NO
18	L65921GA1967PLC000157	Zuari Industries Limited	Director	01-04-12	21-01-11	-	Active	NO
19	U85300DL1955NPL002999	The Fertiliser Association of India	Director appointed in casual vacancy	07-12-11	07-12-11	-	Active	NO

Name :

Saroj Kumar Poddar

Designation :

Additional Director

Date of Birth/Age :

15.09.1945

Qualification :

B.Com (Hons)

Date of Appointment :

20.05.2011

DIN No.:

00008654

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	L28931RJ1984PLC002890	Gillette India Limited	Director	09-02-84	09-02-84	-	Active	NO
2	L85110GJ1975PLC054824	Essar Ports Limited	Director	01-08-84	01-08-84	20-06-08	Active	NO
3	L31102DL1957PLC193993	Alstom T and D India Limited	Director	29-03-88	29-03-88	27-07-09	Active	NO
4	L70101WB1939PLC009800	Texmaco Infrastructure and Holdings Limited	Whole-time director	01-04-09	14-02-91	-	Active	NO
5	U99999DL1967PLC002635	Federation of Indian Chamber of Commerce and Industry.	Director	11-10-92	11-10-92	-	Active	NO
6	L65921GA1967PLC000157	Zuari Industries Limited	Director	16-09-08	15-05-93	-	Active	NO
7	L24124RJ1985PLC003293	Chambal Fertilisers and Chemicals Limited	Director	13-02-95	13-02-95	-	Active	NO
8	U74899DL1995PLC071074	Simon India Limited	Director	25-07-95	25-07-95	-	Active	NO
9	L51226WB1985PLC039055	Adventz Investments and Holdings Limited	Director	18-12-95	18-12-95	-	Active	NO
10	U65993WB1996PTC079012	Adventz Finance Private Limited	Director	18-06-96	18-06-96	-	Active	NO
11	U74999DL1982PTC117290	Mining Consultants (India) Private Limited Trs From W.B to Delhi	Director	24-06-96	24-06-96	-	Active	NO
12	U52110WB1997PLC083860	Lionel India Limited	Director	03-04-97	03-04-97	-	Active	NO
13	U26942AP2000PLC050415	Zuari Cement Limited	Director	25-01-01	25-01-01	-	Active	NO
14	U36109MH1999PTC161129	Hettich India Private Limited	Director	29-01-01	29-01-01	-	Active	NO
15	L26942AP1983PLC004257	Sri Vishnu Cement Limited	Director	18-05-02	18-05-02	-	Amalgamated	NO
16	U72200GA2000PLC002922	Indian Furniture Products Limited	Director	19-09-03	19-09-03	14-06-11	Active	NO
17	U45200DL2007PLC157223	Chambal Infrastructure Ventures Limited	Director	02-01-07	02-01-07	-	Active	NO
18	U15490WB2007PLC121159	Bengal Foodpark Limited	Director	24-12-07	24-12-07	23-03-09	Active	NO
19	U35201WB2009PTC133330	Texmaco UGL Rail Private Limited	Director	26-09-11	27-07-09	-	Active	NO
20	L29261WB1998PLC087404	Texmaco Rail and Engineering Limited	Whole-time director	25-09-10	25-09-10	-	Active	NO
21	U65910GA2009PLC006177	Zuari Holdings Limited	Additional director	20-05-11	20-05-11	-	Active	NO
22	U24120GA2009PLC006158	Zuari Fertilisers and Chemicals Limited	Director	19-09-11	31-05-11	-	Active	NO
23	U26941KA2007PLC054428	Gulbarga Cement Limited	Director	30-09-11	09-09-11	-	Active	NO

Name :

Mr. Jayant Narayan Godbole

Designation :

Additional Director

Date of Birth/Age :

17.02.1945

Qualification :

B.E. (Chemical Engineer)

Date of Appointment :

20.05.2011

DIN No.:

00056830

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	U74999MH2003PTC139774	Invent Assets Securitisation and Reconstruction Private Limited	Director	26-05-05	26-05-05	11-07-08	Active	NO
2	U67190MH2005PTC155404	Invent Arc Private Limited	Director	17-08-05	17-08-05	11-07-08	Active	NO
3	U24110MH1986PLC038680	Embio Limited	Director	21-10-05	21-10-05	-	Active	NO
4	L28120MH1992PLC069252	Technocraft Industries (India) Limited	Director	01-03-06	01-03-06	18-05-09	Active	NO
5	L17229UP1994PLC017199	J. K. Cement Limited	Director	25-08-07	29-07-06	-	Active	NO
6	L51909WB1935PLC008194	Gillanders Arbuthnot and Company Limited	Director	05-09-07	07-03-07	-	Active	NO
7	L31300DN1961PLC000232	IMP Powers Limited	Director	05-12-08	16-03-07	-	Active	NO
8	L21019WB1981PLC034161	Emami Paper Mills Limited	Director	17-03-07	17-03-07	-	Active	NO
9	L72200MH2000PLC130073	MW Unitexx Limited	Director	27-09-07	16-04-07	23-04-10	Active	NO
10	L15432UP1932PLC025186	The Oudh Sugar Mills Limited	Director	17-12-07	23-04-07	-	Active	NO
11	L21012CT1980PLC001682	Madhya Bharat Papers Limited	Director	25-07-07	25-07-07	-	Active	NO
12	L51420MH1989PLC053772	Bilpower Limited	Director	22-09-07	26-07-07	17-06-08	Active	NO
13	L65921GA1967PLC000157	Zuari Industries Limited	Director	24-09-07	01-08-07	-	Active	NO
14	U26951UP1988PLC010111	Jaykaycem Limited	Director	26-07-08	09-02-08	-	Amalgamated	NO
15	L26941GJ1956PLC000840	Saurashtra Cement Limited	Additional director	28-04-08	28-04-08	-	Active	NO
16	L24110GJ1973PLC002247	Gujarat Alkalies and Chemicals Limited	Director	04-03-09	04-03-09	-	Active	NO
17	L45203MH2008PLC178061	Kesar Terminals and Infrastructure Limited	Director	14-09-10	29-01-10	-	Active	NO
18	U65999WB2010PTC141896	Midas Asset Reconstruction Company Private Limited	Director	24-05-11	11-08-10	-	Active	NO
19	U65100MH2010PLC199319	IDBI Asset Management Limited	Director	15-07-11	09-11-10	-	Active	NO
20	U65910GA2009PLC006177	Zuari Holdings Limited	Additional director	20-05-11	20-05-11	-	Active	NO
21	U74120MH2011PLC222597	Kesar Multimodal Logistics Limited	Director	30-09-11	30-09-11	-	Active	NO

Name :

Mr. Harbachan Singh Bawa

Designation :

Additional Director

Address :

D – 4/18, Krishna Nagar, New Delhi – 110 051, India

Date of Birth/Age :

20.03.1931

Qualification :

M.S. (Chemical Engineering)

Date of Appointment :

20.05.2011

DIN No.:

00244222

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	U14219TN1955PLC000961	Indian Potash Limited	Director	30-09-81	30-09-81	-	Active	NO
2	U85300DL1955NPL002999	The Fertiliser Association of India	Director	03-03-82	03-03-82	-	Active	NO
3	L24124RJ1985PLC003293	Chambal Fertilisers and Chemicals Limited	Director	07-05-85	07-05-85	16-09-11	Active	NO
4	U01122GA1995PLC001751	Zuari Seeds Limited	Director	12-01-95	12-01-95	-	Active	NO
5	U74899DL1995PLC071074	Simon India Limited	Director	24-07-95	24-07-95	-	Active	NO
6	L65921GA1967PLC000157	Zuari Industries Limited	Whole-time director	01-09-10	28-07-95	-	Active	NO
7	U52110WB1997PLC083860	Lionel India Limited	Director	03-04-97	03-04-97	-	Active	NO
8	U11202GA2000PLC002869	Zuari Indian Oiltanking Limited	Director	14-07-01	14-07-01	26-09-08	Active	NO
9	U24129OR1981PLC001020	Paradeep Phosphates Limited	Nominee director	28-02-02	28-02-02	-	Active	NO
10	U24124GA2002PLC003064	Zuari Maroc Phosphates Limited	Director	26-04-02	26-04-02	-	Active	NO
11	U65993GA1995PLC001942	Zuari Investments Limited	Director	19-09-03	19-09-03	-	Active	NO
12	U72900KA2003PLC050528	ISG Novasoft Technologies Limited	Director	23-08-04	23-08-04	30-09-07	Active	NO
13	U36101TN1998PLC039842	Style Spa Furniture Limited	Director	20-10-04	20-10-04	-	Active	NO
14	U45200DL2007PLC157223	Chambal Infrastructure Ventures Limited	Director	02-01-07	02-01-07	14-09-11	Active	NO
15	U26941KA2007PLC054428	Gulbarga Cement Limited	Director	30-10-07	30-10-07	10-09-11	Active	NO
16	U24120GA2009PLC006158	Zuari Fertilisers And Chemicals Limited	Director	19-09-11	28-10-10	-	Active	NO
17	U65910GA2009PLC006177	Zuari Holdings Limited	Additional director	20-05-11	20-05-11	-	Active	NO

Name :

Mr. Marco Philippus Ardeshir Wadia

Designation :

Additional Director

Date of Birth/Age :

30.01.1956

Qualification :

B.A. (Hons), L.L.B

Date of Appointment :

20.05.2011

DIN No.:

00244357

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	U32109MH1970PTC014544	Amphenol Interconnect India Private Limited	Alternate director	17-05-12	01-09-84	Active	NO
2	L65921GA1967PLC000157	Zuari Industries Limited	Director	15-05-93	15-05-93	Active	NO
3	L24124RJ1985PLC003293	Chambal Fertilisers and Chemicals Limited	Director	15-11-94	15-11-94	Active	NO
4	U65191TN1997PLC039229	GMAC Financial Services India Limited	Director	03-12-97	03-12-97	Under liquidation	NO
5	L28100MH1907PLC000252	Josts Engineering Comapny Limited	Director	02-06-98	02-06-98	Active	NO
6	L45200GJ1973PLC050790	Stovec Industries Limited	Director	21-05-99	21-05-99	Active	NO
7	U33110MH1957PLC010928	Johnson and Johnson Limited	Director	28-11-03	28-11-03	Active	NO
8	U24124GA2002PLC003064	Zuari Maroc Phosphates Limited	Nominee director	23-12-05	23-12-05	Active	NO
9	U24129OR1981PLC001020	Paradeep Phosphates Limited	Nominee director	21-03-06	21-03-06	Active	NO
10	U74899DL1995PLC071074	Simon India Limited	Director	05-06-06	05-06-06	Active	NO
11	U45309KA2007PLC043161	Adventz Infraworld India Limited	Director	19-09-08	12-12-07	Active	NO
12	U32100TN2008PTC066155	Amphenol Omniconnect India Private Limited	Alternate director	26-08-10	22-01-08	Active	NO
13	U31909PN2010PTC137445	Amphetronix Offset Interconnect Solutions Private Limited	Director	29-09-10	29-09-10	Active	NO
14	U65910GA2009PLC006177	Zuari Holdings Limited	Additional director	20-05-11	20-05-11	Active	NO

Name :

Mr. Arun Duggal

Designation :

Additional Director

Address :

A-4, West End, New Delhi – 110 021, India

Date of Birth/Age :

01.10.1946

Date of Appointment :

27.03.2012

DIN No.:

00024262

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	L65921GA1967PLC000157	Zuari Industries Limited	Director	02-09-98	02-09-98	-	Active	NO
2	U65910DL2002PTC117808	Blackstone Investment Company Private Limited	Director	27-11-02	27-11-02	15-12-11	Active	NO
3	U74999DL2002PTC117357	International Asset Reconstruction Company Private Limited	Director	29-09-04	22-03-03	-	Active	NO
4	L72200MH1978PLC020127	Patni Computer Systems Limited	Director	12-11-03	12-11-03	-	Active	NO
5	L74899DL1998PLC093073	Petronet LNG Limited	Nominee director	13-03-04	13-03-04	11-07-08	Active	NO
6	U74140DL2004PTC125248	Tanglewood Financial Advisors Private Limited	Director	17-03-04	17-03-04	15-12-11	Active	NO
7	U65991MH2004PTC147285	FIL Fund Management Private Limited	Director	26-07-04	26-07-04	-	Active	NO
8	U73100KA2004PLC035260	Manipal Acunova Limited	Director	20-12-04	20-12-04	14-12-11	Active	NO
9	U24231AP1984PLC005146	Mylan Laboratories Limited	Director	22-01-05	22-01-05	08-01-07	Active	NO
10	U65993AP1991PTC013491	Bellwether Microfinance Fund Private Limited	Director	25-03-05	25-03-05	-	Active	NO
11	U71110DL2000PTC189230	Carzonrent (India) Private Limited	Director	04-04-05	04-04-05	-	Active	NO
12	L65191TN1979PLC007874	Shriram Transport Finance Company Limited	Director	09-09-05	09-09-05	-	Active	NO
13	L74899DL1995PLC068021	Info Edge (India) Limited	Director	20-03-06	20-03-06	-	Active	NO
14	U67120DL1995PTC189993	Asia Pragati Capfin Private Limited	Director	24-04-06	24-04-06	18-10-07	Active	NO
15	U72200TN2000PTC044560	Shriram Properties Private Limited	Director	15-07-06	15-07-06	-	Active	NO
16	L51909DL1988PLC101836	Dish TV India Limited	Director	02-02-07	06-01-07	-	Active	NO
17	L65191TN1986PLC012840	Shriram City Union Finance Limited	Director	17-08-07	25-05-07	-	Active	NO
18	L63090GJ1998PLC034182	Adani Ports And Special Economic Zone Limited	Director	30-07-07	27-06-07	-	Active	NO
19	L74210TN2000PLC045167	Shriram EPC Limited	Director	20-09-07	20-09-07	-	Active	NO
20	U65999MH2008NPL183438	Private Equity Association of India	Director	12-06-08	12-06-08	-	Active	NO
21	U64202KA2006PTC038459	Mobilenxt Teleservices Private Limited	Director	16-09-09	17-08-09	21-12-09	Active	NO
22	U65993TN1974PLC006588	Shriram Capital Limited	Director	29-09-10	01-10-09	-	Active	NO
23	U80103DL2006PLC153405	Educomp School Management Limited	Additional director	14-02-12	14-02-12	-	Active	NO
24	U65910GA2009PLC006177	Zuari Holdings Limited	Additional director	27-03-12	27-03-12	-	Active	NO

KEY EXECUTIVES

Name :	Ramkrishna Y. Patil
Designation :	Secretary
Address :	B-4 Zuari Residential Colony, Zuarinagar, Vasco da gama – 403 726, Goa, India
Date of Birth/Age :	20.07.1958
Date of Appointment :	27.03.2012
PAN No.:	AJWPP4794M

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 12.05.2011

Names of Shareholders	No. of Shares
Zuari Industries Limited jointly with Naveen Kapoor	10
Zuari Industries Limited jointly with Binayak Datta	10
Zuari Industries Limited jointly with B.K. Kinekar	10
Zuari Industries Limited jointly with R.Y. Patil	10
Zuari Industries Limited jointly with B.V. Patil	10
Zuari Industries Limited jointly with H.C. Shah	10
Zuari Industries Limited jointly with N.M. Kantak	10
Zuari Industries Limited, India	1999930
Total	2000000

As on 20.05.2011

Names of Allottees	No. of Shares
Zuari Industries Limited, India	6411601
Zuari Management Services Limited, India	4205801
Total	10617402

As on 12.05.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Seller of fertilisers and other related products.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	V. Sankar Aiyar and Company Chartered Accountants
Address :	Flat No.202, 203 and 301, Satyam Cinema Complex, Ranjit Nagar Community Centre, New Delhi – 110 008, India
Tel. No.:	91-11-25702074/ 25702691/ 25704639/ 25705233
Fax No.:	91-11-25705010/ 25705232
E-Mail :	newdelhi@vsa.co.in vsand@del3.vnsl.net.in
PAN No.:	AAAFV0781D
Holding Company:	Zuari Industries Limited, India (since March 10, 2011) CIN No.: L65921GA1967PLC000157 Zuari Investments Limited (till March 09, 2011)
Fellow Subsidiary Company :	Zuari Investments Limited, India CIN No.: U65993GA1995PLC001942
Group Company :	v Indian Furniture Products Limited v Zuari Seeds Limited v Simon India Limited v Adventz Infraworld India Limited (AIIL) v Gulbarga Cement Limited (GCL) v Zuari Fertilisers and Chemicals Limited (ZFCL) v Globex Limited (GL) v Zuari Management Services Limited (ZMSL) v Zuari Insurance Brokers Limited (ZIBL) v Zuari Commodity Trading Limited (ZCTL) v Zuari Financial Services Limited (ZFSL)
Joint Ventures :	v Zuari Indian Oiltanking Limited v Zuari Maroc Phosphates Limited v Zuari Rotem Speciality Fertlisers Limited

CAPITAL STRUCTURE

After 12.05.2011

Authorised Capital : Rs.420.580 Millions

Issued, Subscribed & Paid-up Capital : Rs.420.580 Millions

As on 12.05.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
12618000	Equity Shares	Rs.10/- each	Rs.126.180 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Note:

The above shares are held by Zuari Industries Limited, the holding company and its nominees, since 10^th March, 2011 previously held by Zuari Investments Limited

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		20.000	0.500
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		(0.297)	(0.269)
NETWORTH		19.703	0.231
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		19.703	0.231
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	19.736	0.509
	Other Current Assets	0.000	0.000
	Loans & Advances	0.000	0.000
Total Current Assets		19.736	0.509
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.259
	Other Current Liabilities	0.033	0.019
	Provisions	0.000	0.000
Total Current Liabilities		0.033	0.278
Net Current Assets		19.703	0.231
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		19.703	0.231

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	0.000	0.000
		Other Income	0.019	0.000
		TOTAL	0.019	0.000
Less	EXPENSES
		Administrative selling other expenses	0.047	0.269
		TOTAL	0.047	0.269
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.028)	(0.269)
Less	INTEREST FINANCIAL EXPENSES		0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX		(0.028)	(0.269)
Less	TAX		0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		(0.028)	(0.269)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.269)	0.000
	BALANCE CARRIED TO THE B/S		(0.297)	(0.269)
	Earnings/ (Loss) Per Share (Rs.)		(0.01)	(5.37)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	(147.37)	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(0.14)	(52.85)
Return on Investment (ROI) (PBT/Networth)		0.00	(1.16)
Debt Equity Ratio (Total Liability/Networth)		0.00	1.20
Current Ratio (Current Asset/Current Liability)		598.06	1.83

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	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

FINANCIAL RESULTS:

The Company has yet to commence its operation.

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.56.99
UK Pound	1	Rs.88.97
Euro	1	Rs.71.57

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	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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.