MIRA INFORM REPORT

Report Date :

21.03.2012

IDENTIFICATION DETAILS

Name :	GLOBIZ EXIM PRIVATE LIMITED (w.e.f. 02.09.2009)
Formerly Known as :	S.N.V.TRADING PRIVATE LIMITED
Registered Office :	150 Feet Road, Zaz Tannery Compound, Jajmau, Kanpur – 208010, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	14.07.2005
Com. Reg. No.:	20-030368
Capital Investment / Paid-up Capital :	Rs.7.610 Millions
CIN No.: [Company Identification No.]	U51109UP2005PTC030368
TAN No.: [Tax Deduction & Collection Account No.]	KNPS02781C
PAN No.: [Permanent Account No.]	AAJCS2372M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Leather Shoes and Boots.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 340000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively small company having moderate track. Profitability of the company is under pressure. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some cautions.

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. Javed
Designation :	Accountant
Contact No.:	91-9839800120
Date :	21.03.2012

LOCATIONS

Registered Office :	150 Feet Road, Zaz Tannery Compound, Jajmau, Kanpur – 208010, Uttar Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-9839800120 (Mr. Javed)
Fax No.:	Not Available
E-Mail :	frost.kanpur@frostinternational.in bilrnp@gmail.com

DIRECTORS

As on 30.09.2010

Name :

Mr. Saral Verma

Designation :

Additional director

Address :

3A/175, Azad Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Appointment :

01.08.2009

DIN No.:

00039092

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	U45201UP2005PTC030369	NEXTGEN ENTERTAINMENT PRIVATE LIMITED	Director	25/07/2005	25/07/2005	30/06/2009	Active	NO
2	U51101UP2008PLC035664	FUTURE INFRADEVELOPERS LIMITED	Director	10/07/2008	10/07/2008	-	Active	NO
3	U51109UP2005PTC030368	GLOBIZ EXIM PRIVATE LIMITED	Additional director	1/08/2009	1/08/2009	8/11/2011	Active	NO

Name :

Mr. Sujay Uday Desai

Designation :

Additional director

Address :

2A/360, Azad Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Appointment :

01.08.2009

DIN No.:

00039105

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	U45201UP2005PTC030369	NEXTGEN ENTERTAINMENT PRIVATE LIMITED	Director	25/07/2005	25/07/2005	30/06/2009	Active	NO
2	U51101UP2008PLC035664	FUTURE INFRADEVELOPERS LIMITED	Director	10/07/2008	10/07/2008	-	Active	NO
3	U51109UP2005PTC030368	GLOBIZ EXIM PRIVATE LIMITED	Additional director	1/08/2009	1/08/2009	8/11/2011	Active	NO
4	U70200MH2007PTC174968	RISIBLE REAL ESTATE PRIVATE LIMITED	Director	16/04/2010	16/04/2010	20/07/2011	Active	NO
5	U05001UP1995PLC018067	FROST INTERNATIONAL LIMITED	Director	2/09/2011	19/07/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Sunil Verma	25000
Nilima Desai	40000
Saral Verma	61000
Sujay U Desai	54000
Sanjana Desai	25000
Nipun Verma	40000
Rita Verma	61000
Sunil Verma Karta (of Sunil Verma HUF)	195000
Sunil Verma Karta (of Sunil Verma HUF)	55000
Ashroj Credit (Private) Limited, India	25000
Haryana International Capital Finance Limited, India	70000
Jagrani Leasing and Finance Company Private Limited, India	50000
Novelty Commotrade Private Limited, India	20000
Trinetra Company Private Limited, India	40000
Total	761000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Bodies corporate	34.17
Directors or relatives of Directors	65.83
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Leather Shoes and Boots.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ICICI Bank

· Kotak Mahindra Bank

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
ICICI Bank (Secured by Equitable mortgage of immovable property of the company)	29.238	29.469
Total	29.238	29.469
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Companies, Directors and Shareholders	79.319	10.600
From Others	0.000	0.000
Total	79.319	10.600

Banking Relations :	--
Auditors :
Name :	Rajiv Mehrotra and Associates Chartered Accountants
Address :	3/3A, Vishnupuri, Kanpur – 208002, Uttar Pradesh, India
PAN.:	AAFFR0926B

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
761000	Equity Shares	Rs.10/- each	Rs.7.610 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		7.610	2.550	2.550
2] Share Application Money		0.000	3.000	3.000
3] Reserves & Surplus		77.297	40.668	43.992
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		84.907	46.218	49.542
LOAN FUNDS
1] Secured Loans		29.238	29.469	29.597
2] Unsecured Loans		79.319	10.600	10.600
TOTAL BORROWING		108.557	40.069	40.197
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		193.464	86.287	89.739
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		33.621	37.308	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.157	0.000	37.308
DEFERREX TAX ASSETS		0.840	0.840	0.840
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	12.594	10.058	9.036
	Cash & Bank Balances	23.539	0.697	1.440
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	122.869	39.977	41.202
Total Current Assets		159.002	50.732	51.678
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.053	0.035	0.018
	Other Current Liabilities	0.103	2.563	0.078
	Provisions	0.000	0.000	0.001
Total Current Liabilities		0.156	2.598	0.097
Net Current Assets		158.846	48.134	51.581
MISCELLANEOUS EXPENSES		0.000	0.005	0.010
TOTAL		193.464	86.287	89.739

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
SALES
	Income	3.176	1.616	2.552
	Other Income
	TOTAL (A)	3.176	1.616	2.552
EXPENSES
	Office Expenses	3.859	0.802	1.439
	Administrative Expenses
	Advertising Expenses
	TOTAL (B)	3.859	0.802	1.439
PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.683)	0.814	1.113
FINANCIAL EXPENSES (D)		3.956	4.130	3.832
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(4.639)	(3.316)	(2.819)
DEPRECIATION/ AMORTISATION (F)		3.737	0.000	0.000
PROFIT BEFORE TAX (E-F) (G)		(8.376)	(3.316)	(2.719)
TAX (H)		0.535	0.009	(1.681)
PROFIT AFTER TAX (G-H) (I)		(8.911)	(3.332)	(1.038)
BALANCE CARRIED TO THE B/S		(8.911)	(3.332)	(1.038)
Earnings Per Share (Rs.)		(12.44)	--	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	280.57	206.19	40.67
Return on Total Assets (PBT/Total Assets}	(%)	4.35	3.77	5.26
Return on Investment (ROI) (PBT/Networth)		0.09	0.07	0.05
Debt Equity Ratio (Total Liability/Networth)		1.28	0.92	0.81
Current Ratio (Current Asset/Current Liability)		1019.24	19.53	532.76

LOCAL AGENCY FURTHER INFORMATION

Note:

The registered address of the company 402, Kalpana Plaza, 24/147 B, Birhana Road, Kanpur – 208001, Uttar Pradesh, India has been shifted to the present address w.e.f. 01.12.2011

WORKING RESULTS AND FUTURE PROSPECTS: -

During the year, the total Income was Rs. 3.176 Millions. The Loss before tax for the year was Rs. 8.376 Millions. The Company is making and will continue to make its best endeavors to attain profitability by optimum utilization of resources.

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.50.25
UK Pound	1	Rs.79.76
Euro	1	Rs.66.52

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	2
--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		27

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.