MIRA INFORM REPORT

Report Date :

03.04.2012

IDENTIFICATION DETAILS

Name :	PRITAM MUSIC PRIVATE LIMITED
Registered Office :	1A, Neela Bhavan, 108, Keshavji Naik Road, Chinch Bunder, Mumbai – 400009, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.04.2000
Com. Reg. No.:	11-126240
Capital Investment / Paid-up Capital :	Rs.1.100 Millions
CIN No.: [Company Identification No.]	U32308MH2000PTC126240
TAN No.: [Tax Deduction & Collection Account No.]	MUMP15540A
PAN No.: [Permanent Account No.]	AACCP5226A
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of all type of CD and DVD.
No. of Employees :	8 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 63000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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.

INFORMATION PARTED BY

Name :	Mr. Aslam
Designation :	Director
Contact No.:	91-22-40598836
Date :	02.05.2012

LOCATIONS

Registered Office :	1A, Neela Bhavan, 108, Keshavji Naik Road, Chinch Bunder, Mumbai – 400009, Maharashtra, India
Tel. No.:	91-22-40598835/ 40598836/ 40598839/ 66378835
Fax No.:	91-22-40598839
E-Mail :	pritam_music@yahoo.com
Location :	Owned

DIRECTORS

(AS ON 30.09.2011)

Name :	Mr. Imtiaz Kamruddin Lilani
Designation :	Director
Address :	A-1201, Yari Road, Varsova and Heri (West), Bianca Hiranandani CHS limited, Varsova, Andheri (West), Mumbai – 400061, Maharashtra, India
Date of Birth/Age :	17.05.1963
Date of Appointment :	28.04.2000
DIN No.:	00200218
Name :	Mr. Aslam Kamruddin Lilani
Designation :	Director
Address :	C-706, Yari Road, Bianca Hiranandani CHS Limited, Varsova, Andheri (West), Mumbai – 400061, Maharashtra, India
Date of Birth/Age :	04.11.1979
Date of Appointment :	28.04.2000
DIN No.:	00200269

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Imtiaz Kamruddin Lilani	49500
Aslam Kamruddin Lilani	49500
Rozina Imtiaz Lilani	500
Rozina Aslam Lilani	500
Royal Hiring Private Limited, India	10000
Total	110000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of all type of CD and DVD.
Terms :
Selling :	Cash and Credit (30-60 days)
Purchasing :	Cash and Credit (30-60 days)

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

8 (Approximately)

Bankers :

· The North Kanara G.S.B. Co-operative
Bank Limited

Girgaum Branch, Laxmi Sadan, 361, V P Road, Girgaum, Mumbai- 400004, Maharashtra, India

· Development Credit Bank Limited

· ICICI Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Bank - North KSB Bank Limited	4.671	9.930
From Others - ICICI Bank Motor car Loan A/c Toyato	0.000	0.060
Total	4.671	9.990
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Shareholders and Directors and their relatives	5.183	0.874
Total	5.183	0.874

Banking Relations :	--
Auditors :
Name :	Vinod Rana and Company Chartered Accountant
Address :	51, 1^st Khattar Gali, Room No.47-48, 1^st Floor, Amarwadi Back Building, C. P. Tank, Mumbai – 400004, Maharashtra, India
Tel No.:	91-22-23896484
Fax No.:	91-22-23880951
Mobile No.:	91-9820124704
Email :	vgrana@vsnl.com
PAN No.:	AAJPR5772K

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
110000	Equity Shares	Rs.10/- each	Rs.1.100 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		1.100	1.100	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		14.626	13.566	8.935
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		15.726	14.666	9.935
LOAN FUNDS
1] Secured Loans		4.671	9.990	8.370
2] Unsecured Loans		5.183	0.874	0.729
TOTAL BORROWING		9.854	10.864	9.099
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		25.580	25.530	19.034
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.208	1.340	1.527
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.905	0.105	0.100
DEFERREX TAX ASSETS		0.040	0.036	0.028
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	10.818	15.184	12.729
	Sundry Debtors	18.448	14.902	14.109
	Cash & Bank Balances	0.919	5.948	1.420
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.681	3.234	3.506
Total Current Assets		32.866	39.268	31.764
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	6.921	12.107	11.037
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	2.518	3.113	3.349
Total Current Liabilities		9.439	15.220	14.386
Net Current Assets		23.427	24.048	17.378
MISCELLANEOUS EXPENSES		0.000	0.001	0.001
TOTAL		25.580	25.530	19.034

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales (Including Other Income)	111.017	126.420	137.180
		TOTAL (A)	111.017	126.420	137.180
Less	EXPENSES
		TOTAL (B)	108.680	123.053	133.522
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.337	3.367	3.658
Less	FINANCIAL EXPENSES (D)		0.450	0.529	0.437
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.887	2.838	3.221
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.209	0.247	0.291
	PROFIT BEFORE TAX (E-F) (G)		1.678	2.591	2.930
Less	TAX (H)		0.597	0.856	1.043
	PROFIT AFTER TAX (G-H) (I)		1.081	1.735	1.887
Less	Adjustment of Previous Year		0.020	0.004	0.002
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		10.666	8.935	7.050
	BALANCE CARRIED TO THE B/S		11.727	10.666	8.935
	Earnings Per Share (Rs.)		9.82	15.77	18.87

Particulars	31.03.2012
Sales Turnover (Approximately)	114.700

Expected Sales (2012-13): Rs.140.000 Millions

The above information has been parted by Mr. Aslam.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.97	1.37	1.38
Return on Total Assets (PBT/Total Assets}	(%)	4.92	6.38	8.80
Return on Investment (ROI) (PBT/Networth)		0.11	0.18	0.29
Debt Equity Ratio (Total Liability/Networth)		1.23	1.78	2.36
Current Ratio (Current Asset/Current Liability)		3.48	2.58	2.21

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011	31.03.2010	31.03.2009
	(Rs. In Millions)
Sundry Creditors for Goods	6.490	12.030	10.036
Sundry Creditors for Expenses	0.431	0.077	1.001
Total	6.921	12.107	11.037

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

FORM 8:

Corporate identity number of the company	U32308MH2000PTC126240
Name of the company	Pritam Music Private Limited
Address of the registered office or of the principal place of business in India of the company	1A, Neela Bhavan, 108, Keshavji Naik Road, Chinch Bunder, Mumbai – 400009, Maharashtra, India Pritam_music@yahoo.com
This form is for	Modification of charge
Charge identification number of the modified	90148441
Type of charge	Book Debts Movable Property
Particular of charge holder	The North Kanara G.S.B. Co-operative Bank Limited Girgaum Branch, Laxmi Sadan, 361, V P Road, Girgaum, Mumbai- 400004, Maharashtra, India cmd@nkgsb-bank.com
Nature of description of the instrument creating or modifying the charge	Composite Hypothecation Agreement
Date of instrument Creating the charge	02.01.2012
Amount secured by the charge	Rs.7.500 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest Rate of Interests: @ minimum of 13.50% p.a. with monthly rests or at such other rate as fixed by the Bank from time to time. Terms of Repayment -- Margin 25% On Stock 40% against debtor upto 90 days Extent and Operation of the charge To secure the due repayment of Cash Credit facility of Rs.7.500 Millions (enhanced from Rs.6.000 Millions), together with costs, interest and/or charges, expenses, etc. thereon, granted by the Bank to the Company.
Short particulars of the property charged	All, present and future, stocks, consumable and all other movable properties of the Company All, present and future, book-debts, outstanding monies, receivables, claims, bills, contracts, securities, etc., of the Company,
Date of latest modification prior to the present modification	31.12.2011
Particulars of the present modification	This charge over stock and book-debts shall now also hold good to secure the due repayment of additional Cash Credit facility of Rs.1.500 Millions, granted by the Bank to the Company. Hence, the aggregate Cash Credit facility, as secured by charge, has been enhanced from Rs.6.000 Millions to Rs.7.500 Millions Therefore, the overall charge now stands at Rs.7.500 Millions.

FIXED ASSETS:

· Office Equipment

· Vehicles

· Furniture and Fixture

· Electric Fitting General

· Computer

· Office Building

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.52.93
UK Pound	1	Rs.85.85
Euro	1	Rs.69.94

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.