MIRA INFORM REPORT

Report Date :

26.03.2012

IDENTIFICATION DETAILS

Name :	ARYA GRUHA PRIVATE LIMITED
Registered Office :	No. 181, Intermediate Ring Road, Amarjyothi Layout, Domlur, Bangalore-560071, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.11.2007
Com. Reg. No.:	08-044452
Capital Investment / Paid-up Capital :	Rs.1.433 Millions
CIN No.: [Company Identification No.]	U70102KA2007PTC044452
TAN No.: [Tax Deduction & Collection Account No.]	BLRA10834F
Legal Form :	Private Limited Liability Company
Line of Business :	Construction Industry and Real Estate.
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 25000
Status :	Small Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. The company has incurred some losses in the current year i.e. 2010-11. 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 :	No. 181, Intermediate Ring Road, Amarjyothi Layout, Domlur, Bangalore-560071, Karnataka, India
Tel. No.:	91-80-25357547
Fax No.:	91-80-41285111
E-Mail :	sales@aryagruha.in chentha@gmail.com info@thearyagroup.in
Website:	http://www.thearyagroup.in

DIRECTORS

As on 30.09.2011

Name :

Ramnarain Krishna Copparam

Designation :

Director

Address :

No. 24, Ramakrishnappa Road, Cox Town, Bangalore-560005, Karnataka, India

Date of Birth/Age :

16.10.1968

Date of Appointment :

22.11.2007

Din No.:

00223229

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	U45209KA1999PTC025715	ADOBE BUILDERS PRIVATE LIMITED	Director	16-09-99	16-09-99	30-11-08	Active	YES
2	U70101KA2005PTC037538	ARYA REALTORS BANGALORE PRIVATE LIMITED	Director	24-10-05	24-10-05	-	Active	NO
3	U70102KA2007PTC044452	ARYA GRUHA PRIVATE LIMITED	Director	22-11-07	22-11-07	-	Active	NO
4	U70101KA2008PTC046674	ARYA COMMERCIAL SPACES PRIVATE LIMITED	Director	05-06-08	05-06-08	-	Active	NO

Name :

Mr. Murali Ramkrishnan Bangalore

Designation :

Director

Address :

35, Ibrahim Sahib Street, Bangalore-560001, Karnataka, India

Date of Birth/Age :

06.04.1970

Date of Appointment :

22.11.2007

Din No.:

00836159

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	U70101KA2005PTC037538	ARYA REALTORS BANGALORE PRIVATE LIMITED	Director	24-10-05	24-10-05	Active	NO
2	U70102KA2007PTC044452	ARYA GRUHA PRIVATE LIMITED	Director	22-11-07	22-11-07	Active	NO
3	U70101KA2008PTC046674	ARYA COMMERCIAL SPACES PRIVATE LIMITED	Director	05-06-08	05-06-08	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
C. K. Ramnarain	500
B. R. Murali	500
Madan A Padaki	188
Murlidhar S.	188
Rajesh Manapat	150
Lakshmi S. Kumar and G. Laxman	150
Mahesh Gopalan	281
Lakshmi M.	300
S. Saravanan	300
T. Prabhakaran	150
T. Ranganathan	150
V. Muralidharan	150
Mehhalla Babu Balachander	300
K. P. Venkatesh	188
T. V. Srinivasaiah Setty and T. S. Chandrakamala	188
R. R. Raghuraj	900
Arya Realtors Bangalore Private Limited, India	7500
Arun C. Kothari (HUF)	750
Sanjeev C. Kothari (HUF)	750
Noel Royappan Chetty	750
Total	14333

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	6.98
Other top fifty shareholders	93.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Construction Industry and Real Estate.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

The Karur Vysya Bank Limited, Kormangala Branch, Bangalore-560038, Karnataka, India

Facilities :

Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
From Holding Company	17.820	28.700
From Directors and Share Holders	15.452	10.719
Total	33.272	39.419

Banking Relations :	--
Auditors :
Name :	Guru and Jana Chartered Accountants
Address :	10/1, II Floor, III Main, Hanumanthnagar, Bangalore-560019, Karnataka, India
Pan No.:	AABFA5265A
Holding Company :	Arya Realtors Bangalore Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.100/- each	Rs.4.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14333	Equity Shares	Rs.100/- each	Rs.1.433 Millions

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		1.433	1.433	1.433
2] Share Application Money		4.911	0.600	1.200
3] Reserves & Surplus		0.132	0.517	0.328
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		6.476	2.550	2.961
LOAN FUNDS
1] Secured Loans		0.000	0.000	2.498
2] Unsecured Loans		33.272	39.419	30.919
TOTAL BORROWING		33.272	39.419	33.417
DEFERRED TAX LIABILITIES		0.000	0.056	0.014
TOTAL		39.748	42.025	36.392
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.979	2.846	1.353
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.165	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	44.796	9.481	5.727
	Sundry Debtors	0.514	1.833	0.255
	Cash & Bank Balances	0.679	1.470	1.816
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	30.745	29.087	28.837
Total Current Assets		76.734	41.871	36.635
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.043	0.525	0.087
	Other Current Liabilities	33.094	2.284	1.665
	Provisions	0.104	0.104	0.176
Total Current Liabilities		41.241	2.913	1.928
Net Current Assets		35.493	38.958	34.707
MISCELLANEOUS EXPENSES		0.111	0.221	0.332
TOTAL		39.748	42.025	36.392

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	3.032	4.547	11.176
Less	EXPENSES
		Office Expenses
		Administrative Expenses	3.639	4.211	10.507
		Advertising Expenses
		TOTAL	3.639	4.211	10.507
	PROFIT / (LOSS) BEFORE TAX		(0.607)	0.336	0.669
Less	TAX		(0.222)	0.147	0.189
	PROFIT / (LOSS) AFTER TAX		(0.385)	0.189	0.480
	Earnings / (Loss) Per Share (Rs.)		(26.88)	13.18	24.61

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(12.70)	4.16	4.29
Return on Total Assets (PBT/Total Assets}	(%)	(0.75)	0.75	1.76
Return on Investment (ROI) (PBT/Networth)		(0.09)	0.13	0.23
Debt Equity Ratio (Total Liability/Networth)		11.51	16.60	11.94
Current Ratio (Current Asset/Current Liability)		1.86	14.37	19.00

LOCAL AGENCY FURTHER INFORMATION

BUSINESS:

During the year the company has achieved an income of Rs.3.032 millions. The company has incurred a net loss of Rs.0.385 million as against a profit after tax of Rs.0.189 million during the previous year.

COMPANY REVIEW:

Subject is engaged in the business of activities relating to construction industry and real estate.

FIXED ASSETS:

· Construction Equipments

· Estate Software

· Vehicles

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 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.50.91
UK Pound	1	Rs.80.77
Euro	1	Rs.67.40

SCORE & RATING EXPLANATIONS

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