BUSINESS INFORMATION REPORT

1. Summary Information

Reference #	135-315421-01-020(20120309414)	Country	INDIA
Company Name	MOHAK CARPETS AND FLOORING PRIVATE LIMITED	Principal Name 1	MS. MINAL BAJAJ
Status	MODERATE	Principal Name 2	MR. KABIR SURINDER BAJAJ
Our Reference #	172753	Registration #	55-191128
Street Address	15, VASANT MARG, 2^ND FLOOR, VASANT VIHAR, NEW DELHI – 110 057
Established Date	11.06.2009	SIC Code	--
Telephone#	NOT AVAILABLE	Business Style 1	MANUFACTURING
Fax #	NOT AVAILABLE	Business Style 2	--
Homepage	NOT AVAILABLE	Product Name 1	CARPETS
# of employees	NOT AVAILABLE	Product Name 2	--
Paid up capital	RS.23,487,900/-	Product Name 3	--
Shareholders	DIRECTORS OR RELATIVES OF DIRECTORS-90.86% OTHER TOP FIFTY SHAREHOLDERS-9.14%	Banking	CENTRAL BANK OF INDIA
Public Limited Corp.	NO	Business Period	2 YEARS
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	B (26)
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	58,156,000	Current Liabilities	37,257,000
Inventories	53,136,000	Long-term Liabilities	287,605,000
Fixed Assets	246,957,000	Other Liabilities	0,000
Deferred Assets	3,823,000	Total Liabilities	324,862,000
Invest& other Assets	48,495,000	Retained Earnings	46,776,000
		Net Worth	85,705,000
Total Assets	410,567,000	Total Liab. & Equity	410,567,000
Total Assets (Previous Year)	167,574,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	80,242,000	Net Profit	(8,723,000)
Sales(Previous yr)	0,000	Net Profit(Prev.yr)	(812,000)

MIRA INFORM REPORT

Report Date :

21.03.2012

Mobile No.:	9560361166/ 9560361177
E-Mail :	ramesh.panda@mohakcarpet.com
Website :	www.mohakcarpets.com

IDENTIFICATION DETAILS

Name :	MOHAK CARPETS AND FLOORING PRIVATE LIMITED
Registered Office :	15, Vasant Marg, 2^nd Floor, Vasant Vihar, New Delhi – 110 057
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	11.06.2009
Com. Reg. No.:	55-191128
Capital Investment / Paid-up Capital :	Rs.23.488 millions
CIN No.: [Company Identification No.]	U17100DL2009PTC191128
TAN No.: [Tax Deduction & Collection Account No.]	DELM17678D
PAN No.: [Permanent Account No.]	AAGCM0754J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Carpets.
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 343000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a company having moderate track. There appears some accumulated losses recorded by the company. 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

LOCATIONS

Registered Office :	15, Vasant Marg, 2^nd Floor, Vasant Vihar, New Delhi – 110 057, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	rakeshg1971@yahoo.co.in
Factory :	Plot No.8, Sector Mahila Udhyami Park-2, Ecotech-3, Greater Noida – 201 308, Uttar Pradesh, India

DIRECTORS

As on 30.09.2011

Name :

Ms. Minal Bajaj

Designation :

Director

Address :

H.No.31, Sector-15A, Gautam Budh Nagar, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

02.11.1962

Date of Appointment :

11.06.2009

DIN No.:

00547610

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	U18101DL2003PTC120039	J K Garments Private Limited	Director	04-12-06	04-12-06	01-06-07	Active	NO
2	U45400DL2007PTC166691	Bajaj Infratech Private Limited	Director	07-08-07	07-08-07	-	Active	NO
3	U45200DL2008PTC177701	Signature Developers Private Limited	Director	06-05-08	06-05-08	06-08-10	Active	NO
4	U17100DL2009PTC191128	Mohak Carpets and Flooring Private Limited	Director	11-06-09	11-06-09	-	Active	NO

Name :

Mr. Kabir Surinder Bajaj

Designation :

Director

Address :

H.No.31, Sector-15A, Gautam Budh Nagar, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

28.12.1990

Date of Appointment :

30.09.2010

DIN No.:

02744972

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	U17100DL2009PTC191128	Mohak Carpets and Flooring Private Limited	Director	30-09-10	22-08-09	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Surinder Bajaj	274830
Minal Bajaj	1514900
Sohila Bajaj	183750
Kabir Bajaj	160650
Surinder Bajaj HUF	214660
Total	2348790

As on 18.02.2012

Names of Allottees	No. of Shares
Surender Bajaj	808762
Minal Bajaj	148963
Sohila Bajaj	88333
Surender Bajaj	10000
Total	1056058

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	90.86
Other top fifty shareholders	9.14
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Carpets.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Central Bank of India, Parliament Street Branch, Jeevan Tara Building, Parliament Street, New Delhi – 110 001, India

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Term Loan with Central Bank of India (Secured against Hypothecation of Land and Building, Machinery)	218.389	116.908
Vehicle Loans (Secured against Hypothecation of Vehicle)	2.862	0.000
Central Bank of India CC/OD (Secured against Stock and Book Debts)	66.354	0.000
Total	287.605	116.908

Banking Relations :	--
Auditors :
Name :	Jain Dhingra and Associates Chartered Accountants
Address :	G-20, Dewan House, Ajay Enclave, Subhash Nagar, New Delhi – 110 018, India
Tel. No.:	91-11-25139266/ 25409266
Income-tax PAN of auditor or auditor's firm :	AAAFJ6105F

CAPITAL STRUCTURE

After 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs.35.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3404848	Equity Shares	Rs.10/- each	Rs.34.048 millions

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2348790	Equity Shares	Rs.10/- each	Rs.23.488 millions

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		23.488	7.500
2] Share Application Money		24.977	14.061
3] Reserves & Surplus		46.776	14.800
4] (Accumulated Losses)		(9.536)	(0.812)
NETWORTH		85.705	35.549
LOAN FUNDS
1] Secured Loans		287.605	116.908
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		287.605	116.908
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		373.310	152.457
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		246.957	26.736
Capital work-in-progress		48.495	134.928
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		3.823	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	53.136	0.000
	Sundry Debtors	33.722	0.000
	Cash & Bank Balances	2.157	3.752
	Other Current Assets	6.243	0.001
	Loans & Advances	16.034	2.157
Total Current Assets		111.292	5.910
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	32.672	14.344
	Other Current Liabilities	4.585	0.773
	Provisions	0.000	0.000
Total Current Liabilities		37.257	15.117
Net Current Assets		74.035	(9.207)
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		373.310	152.457

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	80.242	0.000
		Other Income	1.005	0.015
		TOTAL (A)	81.247	0.015
Less	EXPENSES
		Office Expenses	68.947	0.827
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	68.947	0.827
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		12.300	(0.812)
Less	INTEREST EXPENSES (D)		18.523	0.000
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(6.223)	(0.812)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		6.323	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(12.546)	(0.812)
Less	TAX (H)		(3.823)	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(8.723)	(0.812)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.812)	0.000
	BALANCE CARRIED TO THE B/S		(9.535)	(0.812)
	IMPORTS
		Capital Goods	NA	65.295
	TOTAL IMPORTS		NA	65.295
	Earnings/ (Loss) Per Share (Rs.)		(3.71)	(1.08)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	(10.74)	(5413.33)
Net Profit Margin (PBT/Sales)	(%)	(15.64)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(3.50)	(2.49)
Return on Investment (ROI) (PBT/Networth)		(0.15)	(0.02)
Debt Equity Ratio (Total Liability/Networth)		3.79	3.71
Current Ratio (Current Asset/Current Liability)		2.99	0.39

LOCAL AGENCY FURTHER INFORMATION

Note:

The registered office of the company has been shifted from 28/20, Ground Floor, East Patel Nagar, Delhi – 110 008 to the present address w.e.f. 14.06.2010.

Bankers Charges Report as per Registry

Corporate identity number of the company	U17100DL2009PTC191128
Name of the company	MOHAK CARPETS AND FLOORING PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	15, Vasant Marg, 2^nd Floor, Vasant Vihar, New Delhi – 110 057, India E-Mail: rakeshg1971@yahoo.co.in
This form is for	Modification of charge
Charge identification number of the modified	10225509
Type of charge	Immovable Property Book Debts Movable Property (not being pledge) Others (Stocks)
Particular of charge holder	Central Bank of India, Parliament Street Branch, Jeevan Tara Building, Parliament Street, New Delhi – 110 001, India E-Mail: agmdela0316@centralbank.co.in
Nature of description of the instrument creating or modifying the charge	Sanction Letter dated 25.08.2011, Copy of Recital, Agreement of Book Debts, Agreement of Hypothecation to secure demand cash credit against goods, Letter of hypothecation, General Counter Guarantee and Indemnity covering several guarantees within the sanctioned guarantee limit, Letter of Hypothecation- Collateral Security and Omnibus Counter Guarantee for letter of credit limit all dated 27.08.2011.
Date of instrument Creating the charge	27.08.2011
Amount secured by the charge	Rs.122.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: CC (H) and ODBD - Base Rate+4.25%, LC (DP/DA)- Normal Charges, BG for custom authorities - 25% of normal charges and for BG other than customs - normal charges Terms of Repayment: On demand Margin: For Cash Credit (H) and ODBD (upto 90 days) - 25% For LC (DP/DA) - 15% For Bank Guarantee other than customs- 10% For Bank Guarantee for custom authorities - 20% Extent and Operation of the charge: Principal amount of Rs.122.000 millions along with interest, liquidated damages, commission, charges etc. Others: The limit sanctioned includes Cash Credit (H)/ ODBD – 92.000 millions, LC (DP/DA)/ Buyers' credit – 20.000 millions and Bank Guarantee of Rs.10.000 millions.
Short particulars of the property charged	First Charge over the fixed assets of the Company both present and future. Equitable mortgage of land and building situated at Plot No.8, MUP-II, Ecotech - III, Greater Noida, Uttar Pradesh Hypothecation of plant and machineries, furniture and fixtures, equipments and other moveable fixed assets Extension of charge over current assets. Hypothecation of all types of stocks, receivables, book debts, hundies, claims and all other current assets present and future of the company These securities also secure term loan of Rs.218.400 millions availed by company
Particulars of the present modification	By the present modification the existing working capital limit of the Company enhanced from Rs.82.100 millions to Rs.122.000 millions comprising of Cash Credit (H)/ ODBD limit of Rs.92.000 millions, LC (DP/DA)/Buyer credit of Rs.20.000 millions and Bank Guarantee of Rs.10.000 millions.

FIXED ASSETS:

v Land and Building

v Plant and Machinery

v Auxiliary Plant and Machinery

v Office Equipments

v Miscellaneous Fixed Assets

v Vehicles

v Trade Mark

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	3
--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	YES
--AFFILIATION	YES/NO	NO
--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.