MIRA INFORM REPORT

Report Date :

21.05.2012

IDENTIFICATION DETAILS

Name :	OROSILBER JOAILLERIE PRIVATE LIMITED
Registered Office :	B-14, Ground Floor, Sector-3, Bawana Industrial Area , New Delhi – 110 039
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.01.2004
Com. Reg. No.:	55-123913
Capital Investment / Paid-up Capital :	Rs.2.500 millions
CIN No.: [Company Identification No.]	U36911DL2004PTC123913
TAN No.: [Tax Deduction & Collection Account No.]	DELO02387A
PAN No.: [Permanent Account No.]	AAACO6747M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Trading of Silver Ornaments and Artificial Jewellary.
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 13000
Status :	Small Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. Profitability appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for small 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 :	B-14, Ground Floor, Sector-3, Bawana Industrial Area , New Delhi – 110 039, India
Tel. No.:	91-11-27762529
Fax No.:	91-11-27762522/ 47860051
E-Mail :	For custom orders, wholesale enquiries, as well as general information, email at mktg@orosilber.com For export enquiries, email at exports@orosilber.com For online shopping, email at bg04@orosilber.com
Website :	http://www.orosilber.in

DIRECTORS

As on 30.09.2011

Name :

Mr. Anil Bansilal Goswami

Designation :

Director

Address :

C-21, Shakti Apartment, Sector-9, Rohini, New Delhi – 110 085, India

Date of Birth/Age :

08.06.1961

Date of Appointment :

22.08.2009

DIN No.:

02789157

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	U36911DL2004PTC123913	Orosilber Joaillerie Private Limited	Director	22-08-09	22-08-09	Active	NO
2	U52300DL2011PTC223877	Orosilber Lifestyles Private Limited	Director	18-08-11	18-08-11	Active	NO

Name :

Ms. Neelam Goswami

Designation :

Director

Address :

C-21, Shakti Apartment, Sector-9, Rohini, New Delhi – 110 085, India

Date of Birth/Age :

21.01.1961

Date of Appointment :

19.08.2009

DIN No.:

02790337

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	U36911DL2004PTC123913	Orosilber Joaillerie Private Limited	Director	19-08-09	19-08-09	Active	NO
2	U52300DL2011PTC223877	Orosilber Lifestyles Private Limited	Director	18-08-11	18-08-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Anil Goswami	178000
Neelam Goswami	72000
Total	250000

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Trading of Silver Ornaments and Artificial Jewellary.
Products :	v Gold Cufflinks v Sterling Silver Cufflinks v Designer Cufflinks v Fun Novelty Cufflinks v Personalized Cufflinks v Tuxedo Studs v Silk Knot Cufflinks v Collar Stiffeners v Tie Clips v Class Rings v Neckties with Cufflinks v Lapel Pins, Buttons, Branding Plates and Pullers v Cufflinks Boxes

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

v ICICI Bank Limited

v ABN Amro Bank

v Punjab National Bank

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
ICICI Bank Car Loan (Secured by Hypothecation of Car)	0.104	0.249
ICICI Bank Limited (A/c No 1051)	0.477	0.133
ICICI Bank Limited (A/c No 15056)	1.242	1.227
ICICI Bank Car Loan A/c-4177	0.357	0.000
Total	2.180	1.609

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Loan from Directors	1.562	1.442
Loan from Others	0.179	0.308
Total	1.741	1.750

Banking Relations :	--
Auditors :
Name :	Sanjay Vishal and Associates Chartered Accountants
Address :	214, Lakshmi Chambers, C-159, Naraina Industrial Area, Phase-I, New Delhi – 110 028, India
Tel. No.:	91-11-25797571/ 25791571
Mobile No.:	91-9810222214
Fax No.:	91-11-25797571
E-Mail :	sjain@hotmail.com
Website :	www.svaindia.com
Income-tax PAN of auditor or auditor's firm :	AAIFS6438E

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 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		2.500	2.500	2.500
2] Share Application Money		0.187	0.187	0.187
3] Reserves & Surplus		0.597	0.608	0.393
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.284	3.295	3.080
LOAN FUNDS
1] Secured Loans		2.180	1.609	0.381
2] Unsecured Loans		1.741	1.750	2.918
TOTAL BORROWING		3.921	3.359	3.299
DEFERRED TAX LIABILITIES		0.063	0.062	0.049
TOTAL		7.268	6.716	6.428
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.869	1.459	1.097
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.313	1.009	1.587
	Sundry Debtors	7.797	5.229	4.955
	Cash & Bank Balances	0.191	1.437	0.835
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.969	2.073	0.061
Total Current Assets		10.270	9.748	7.438
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4.411	3.561	1.601
	Other Current Liabilities	0.412	0.835	0.394
	Provisions	0.050	0.098	0.115
Total Current Liabilities		4.873	4.494	2.110
Net Current Assets		5.397	5.254	5.328
MISCELLANEOUS EXPENSES		0.002	0.003	0.003
TOTAL		7.268	6.716	6.428

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	22.855	23.658	17.355
		Other Income	0.419	0.359	NA
		TOTAL	23.274	24.017	NA
Less	EXPENSES
		Office Expenses	23.036	23.690	NA
		Administrative Expenses
		Advertising Expenses
		TOTAL	23.036	23.690	NA
	PROFIT BEFORE TAX		0.238	0.327	NA
Less	TAX		0.050	0.112	NA
	PROFIT AFTER TAX		0.188	0.215	NA
	EARNINGS IN FOREIGN CURRENCY		4.108	5.079	3.826
	IMPORTS
		Purchases	2.682	1.830	1.229
	TOTAL IMPORTS		2.682	1.830	1.229
	Earnings Per Share (Rs.)		0.75	0.86	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.81	0.90	NA
Net Profit Margin (PBT/Sales)	(%)	1.04	1.38	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.96	2.92	NA
Return on Investment (ROI) (PBT/Networth)		0.07	0.10	NA
Debt Equity Ratio (Total Liability/Networth)		2.68	2.38	1.76
Current Ratio (Current Asset/Current Liability)		2.11	2.17	3.53

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	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last two years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	--
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

Note:

The registered office of the company has been shifted from 1109, Pearl Best Height, 2 C-09, Netaji Subhash Place, Pitam Pura, New Delhi – 110 034 to the present address w.e.f. 01.06.2011.

FIXED ASSETS:

v Air Conditioner

v Camera

v Car

v Computer and Printer

v Cycle

v Mobile Phone

v Office Equipment

v Samsung DVD

v Inverter

v T.V

v Weighing Machine

v Water Filter

v Water Machine

v Furniture and Fixtures

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.54.87
UK Pound	1	Rs.86.46
Euro	1	Rs.69.49

INFORMATION DETAILS

Report Prepared by :

SMN

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	3
--PROFITABILIRY	1~10	3
--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	NO
--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.