MIRA INFORM REPORT

Report Date :

27.06.2012

IDENTIFICATION DETAILS

Name :	PRIYA EXIM PRIVATE LIMITED
Registered Office :	40, Ground Floor, Ashoka Shopping Centre, L.T. Marg, Mumbai – 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	02.02.2006
Com. Reg. No.:	11-159438
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U31200MH2006PTC159438
TAN No.: [Tax Deduction & Collection Account No.]	MUMP29173E
PAN No.: [Permanent Account No.]	AADCP7933P
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Fabric, Chemical Steel
No. of Employees :	5 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 2300
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track records. There appears a huge increase in the sales turnover and profitability of the company during the year 2011. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered 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

INFORMATION PARTED BY

Name :	Mr. Jitu
Designation :	Manager
Contact No.:	91-9821624663
Date :	22.06.2012

LOCATIONS

Registered Office :	40, Ground Floor, Ashoka Shopping Centre, L.T. Marg, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-22626067 / 22651366 / 22623144
Mobile No.:	91-9821624663 (Mr. Jitu)
Fax No.:	Not Available
E-Mail :	kcjain_co@yahoo.com
Website :	www.priya-creation.com

DIRECTORS

As on 30.09.2011

Name :	Mr. Sirajuddin A Seth
Designation :	Director
Address :	104-B Castle Tower Co Op Hsg Society, Vaishali Nagar, Jogeshwari, Mumbai 400102, Maharashtra, India
Date of Appointment :	02.02.2008
DIN No.:	00318178

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U50500MH2004PTC144732	GUL LUBRICANTS PRIVATE LIMITED	Director	26-02-04	26-02-04	Strike off	NO
2	U51400MH2004PTC145156	SABA MINERALS PRIVATE LIMITED	Director	18-03-04	18-03-04	Strike off	NO
3	U31909MH2005PTC157619	PRIYA ELECTRONIC TRADING ( INDIA ) PRIVATE LIMITED	Director	28-11-05	28-11-05	Active	NO
4	U31200MH2006PTC159438	PRIYA EXIM PRIVATE LIMITED	Director	02-02-06	02-02-06	Active	NO

Name :	Mr. Chetan B Jain
Designation :	Director
Address :	Near Jain Temple, Anah Gate, Bahariya Bharatpur 3211001, Rajasthan, India
Date of Appointment :	03.05.2011
DIN No.:	02659144

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	U51909MH2005PTC156109	COLOURSHOP TRADING COMPANY PRIVATE LIMITED	Director	31-03-08	31-03-08	04-05-11	Active	NO
2	U31909MH2005PTC157619	PRIYA ELECTRONIC TRADING ( INDIA ) PRIVATE LIMITED	Director	03-05-11	03-05-11	-	Active	NO
3	U31200MH2006PTC159438	PRIYA EXIM PRIVATE LIMITED	Director	03-05-11	03-05-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Jitu
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Sirajuddin A Seth	2000
Jayesh Vasntilal Gala	250
Mukesh Jethabhai Bhnushal	1250
Nuruddun Saikh	1500
TOTAL	5000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Fabric, Chemical Steel
Imports :
Countries :	Indonesia
Terms :
Selling :	L/C, Cash
Purchasing :	L/C, Cash

GENERAL INFORMATION

Supplier :

Mudra Lifestyle

Customer :

Wholesalers and Retailers

· Quality Manufacturing Company

No. of Employees :

5 (Approximately)

Bankers :

Axis Bank, Mumbai, Maharashtra, India

Facilities :

(Rs. In Millions)

Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Other debt unsecured	83.365	2.280
Total	83.365	2.280

Banking Relations :	--
Auditors :
Name :	S. Kumar and A. Kumar Chartered Accountant
Address :	545, Bharat Photo House, Room No. 310, 3^rd Floor, Kalbadevi Road, Mumbai – 400002, Maharashtra, India
PAN.:	AATFS2978N
Sister Concern :	Jasmine Enterprises

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs. 0.500 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		0.500	0.500	0.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4.600	4.600	0.000
4] (Accumulated Losses)		(4.523)	(7.132)	(3.366)
NETWORTH		0.577	(2.032)	(2.866)
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		83.365	2.280	2.270
TOTAL BORROWING		83.365	2.280	2.270
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		83.942	0.248	(0.596)
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.021	0.025	0.030
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		32.100	16.292	3.200
DEFERREX TAX ASSETS		0.002	0.002	0.001
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.527	0.000	5.069
	Sundry Debtors	1039.119	166.624	84.797
	Cash & Bank Balances	3.416	2.573	1.071
	Other Current Assets	0.357	0.006	0.000
	Loans & Advances	74.783	12.449	46.659
Total Current Assets		1121.202	181.652	137.596
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1065.330	106.115	139.824
	Other Current Liabilities	3.714	91.351	1.409
	Provisions	0.339	0.262	0.200
Total Current Liabilities		1069.383	197.728	141.433
Net Current Assets		51.819	(16.076)	(3.837)
MISCELLANEOUS EXPENSES		0.000	0.005	0.010
TOTAL		83.942	0.248	(0.596)

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	1853.330	568.566
		Other Income	1.275	0.417
		TOTAL	1854.605	568.983
Less	EXPENSES
		Material Consumed	1850.413	565.100
		Director Expenses	0.000	2.116
		Operating and Other Expenses	1.691	0.929
		TOTAL	1852.104	568.145
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		2.501	0.838
Less/ Add	DEPRECIATION/ AMORTISATION		0.004	0.005
	PROFIT BEFORE TAX		2.497	0.833
Less	TAX		0.499	0.149
	PROFIT AFTER TAX		1.998	0.684
	Excess Provision Written Off		0.150	0.262
	Income Tax Refund		0.194	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(7.020)	(7.966)
Less	T. D. S W/Off		(0.006)	0.000
	BALANCE CARRIED TO THE B/S		(4.684)	(7.020)
	Earnings Per Share (Rs.)		399.60	--

Particulars	31.03.2012
Sales Turnover (Approximately)	1900.000

Expected Sales (2012-2013) : Rs. 2100.000 Millions

The above information has been parted by Mr. Jitu.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.11	0.12	NA
Net Profit Margin (PBT/Sales)	(%)	0.13	0.15	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.22	0.46	NA
Return on Investment (ROI) (PBT/Networth)		4.33	(0.41)	NA
Debt Equity Ratio (Total Liability/Networth)		1997.83	(98.43)	(50.14)
Current Ratio (Current Asset/Current Liability)		1.05	0.92	0.97

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	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
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	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
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

OPERATION

The Turnover of the company is maintained by company during the year in comparison of previous year. Directors expect further improvement in the turnover during the current year.

TRADE REFERENCE

· Quality Manufacturing Company

· Mudra Lifestyle

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.57.07
UK Pound	1	Rs.88.95
Euro	1	Rs.71.40

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		43

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.