MIRA INFORM REPORT

Report Date :

05.11.2012

IDENTIFICATION DETAILS

Name :	SIROYA PROPERTIES AND HOLDINGS PRIVATE LIMITED

Registered Office :	No. 18, 1^st Floor, 2^nd Cross, 8^th Main, Vasant Nagar, Bangalore-560052, Karnataka

Country :	India

Financials (as on) :	31.03.2010

Date of Incorporation :	21.04.2008

Com. Reg. No.:	08-046139

Capital Investment / Paid-up Capital :	Rs.0.100 Million

CIN No.: [Company Identification No.]	U45200KA2008PTC046139

Legal Form :	Private Limited Liability Company

Line of Business :	Builders and Developers.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (18)

RATING

STATUS

PROPOSED CREDIT LINE

11-25

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

Status :	Yet to commence business activity

Payment Behaviour :	Unknown

Litigation :	--

Comments :	Even though the company was incorporated in the year 2008. They have no yet started their business activity. No other information could be made available. Payment terms are unknown. The company can be considered for business dealings on safe and secured 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.

ECGC Country Risk Classification List – June 30, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	No. 18, 1^st Floor, 2^nd Cross, 8^th Main, Vasant Nagar, Bangalore-560052, Karnataka, India
Tel. No.:	91-80-41473304 / 41379500
Fax No.:	91-80-22354057
E-Mail :	siroyaconstructions@yahoo.co.uk

DIRECTORS

AS ON 30.09.2010

Name :

Mr. Shailesh Dheerajmal Siroya

Designation :

Director

Address :

7/3/1, 2^nd Cross, Chandavarkar Layout, Palace Road, Bangalore-560052, Karnataka, India

Date of Birth/Age :

10.08.1966

Date of Appointment :

21.04.2008

Election Commission Identity Card No.:

KT/12/086/225757

Din No.:

00048109

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U36911MH1989PTC051495	SANJAY GEMS PRIVATE LIMITED	Director	15/05/1992	15/05/1992	Active	NO
2	L85110KA1987PLC008368	BAL PHARMA LIMITED	Managing director	01/08/2009	01/06/1994	Active	NO
3	U73100KA2001PTC029393	NOVOSYNTH RESEARCH LABS PRIVATE LIMITED	Director	10/08/2001	10/08/2001	Strike off	NO
4	L01111KA1988PLC008861	SUNIL AGRO FOODS LIMITED	Director	28/07/2003	28/07/2003	Active	NO
5	U73100KA2003NPL033078	INDO-MIDDLEEAST CHAMBER OF COMMERCE	Director	23/12/2003	23/12/2003	Active	NO
6	U72200KA2005PTC037307	E-XSEED TECHNOLOGIES AND DEVICES PRIVATE LIMITED	Director	23/09/2005	23/09/2005	Active	NO
7	U24233KA1996PLC049815	BASAV CHEM LIMITED	Director	30/09/2008	06/12/2007	Amalgamated	NO
8	U45200KA2008PTC046139	SIROYA PROPERTIES AND HOLDINGS PRIVATE LIMITED	Director	21/04/2008	21/04/2008	Active	NO
9	U45300KA2008PTC047202	SIROYA BUILDERS AND REAL ESTATES PRIVATE LIMITED	Director	18/07/2008	18/07/2008	Active	NO

Name :

Mr. Shrenik Dheerajmal Siroya

Designation :

Director

Address :

Garden View, Harkens Road, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

10.09.1964

Date of Appointment :

21.04.2008

Election Commission Identity Card No.:

MT/04/024/136003

Din No.:

00078892

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U99999MH1985PTC037627	MOKALSAR STONE PRIVATE LIMITED	Director	29/09/1989	29/09/1989	-	Active	NO
2	L85110KA1987PLC008368	BAL PHARMA LIMITED	Director	30/09/1997	30/09/1997	-	Active	NO
3	U51900MH1982PTC027209	SIROYA EXPORTS PRIVATE LIMITED	Director	30/09/1998	30/09/1998	-	Active	NO
4	U65990MH1982PTC027196	SIROYA DEVELOPERS PRIVATE LIMITED	Director	30/09/1998	30/09/1998	-	Active	NO
5	U73100MH1996NPL100174	THE PHARMACEUTICAL FORM-FILL-SEAL ASSOCIATION OF INDIA	Director	11/10/2002	11/10/2002	-	Active	NO
6	U45200MH2005PTC152161	SIROYA FM CONSTRUCTIONS PRIVATE LIMITED	Director	23/03/2005	23/03/2005	-	Active	NO
7	U45200MH2005PTC156499	MANNAT DEVELOPERS PRIVATE LIMITED	Director	26/11/2005	26/11/2005	22/09/2007	Active	NO
8	U70100MH2005PTC155891	MANNAT PROPERTIES PRIVATE LIMITED	Director	10/01/2006	10/01/2006	-	Dormant	NO
9	U45200MH2006PTC159879	SIROYA NAHAR HOUSING PRIVATE LIMITED	Director	20/02/2006	20/02/2006	-	Active	NO
10	U24233KA1996PLC049815	BASAV CHEM LIMITED	Director	30/09/2008	06/12/2007	-	Amalgamated	NO
11	U99999MH2002PTC134887	GERARIE INVESTMENTS AND CONSULTANTS PRIVATE LIMITED	Director	10/12/2007	10/12/2007	18/03/2010	Dormant	NO
12	U45200MH1976PTC018747	SARABJIT CONSTRUCTION COMPANY PRIVATE LIMITED	Director	08/01/2008	08/01/2008	-	Active	NO
13	U45200KA2008PTC046139	SIROYA PROPERTIES AND HOLDINGS PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
14	U45300KA2008PTC047202	SIROYA BUILDERS AND REAL ESTATES PRIVATE LIMITED	Director	18/07/2008	18/07/2008	-	Active	NO
15	U45202MH2008PTC183922	BLUE PEARL INFRASTRUCTURES PRIVATE LIMITED	Director	18/02/2009	18/02/2009	-	Active	NO
16	U45202MH2009PTC195028	SIROYA FM INFRADEVELOPMENT PRIVATE LIMITED	Director	19/08/2009	19/08/2009	-	Active	NO
17	U92490MH2010PTC204393	SIROYA FM COUNTRYSIDE PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO
18	U70102MH2010PTC206021	SIROYA FM INFRASTRUCTURE PRIVATE LIMITED	Director	28/07/2010	28/07/2010	-	Active	NO
19	U74210MH1986PTC039279	SUPERKLEAN ENVIRONMENTAL ENGINEERS PRIVATE LIMITED	Director	28/07/2012	28/07/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders		No. of Shares
Shailesh Dheerajmal Siroya		9000
Dilip Mehta		1000

TOTAL		10000

AS ON 30.09.2010

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

BUSINESS DETAILS

Line of Business :

Builders and Developers.

GENERAL INFORMATION

No. of Employees :	Not Available

Bankers :	Not Available


Banking Relations :	--

Auditors :
Name :	K umesh Shetty and Company Chartered Accountants
Address :	No. 86, HMT Main Road, Mathikere, Bangalore-560054, Karnataka, India
PAN No:	AHQPS5214B

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.100	0.100
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000

TOTAL		0.100	0.100

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		0.000	0.000
Capital work-in-progress		0.000	0.000

INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.021	0.021
	Other Current Assets	0.000	0.000
	Loans & Advances	0.050	0.050
Total Current Assets		0.071	0.071
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities	0.010	0.010
	Provisions	0.000	0.000
Total Current Liabilities		0.010	0.010
Net Current Assets		0.061	0.061

MISCELLANEOUS EXPENSES		0.039	0.039

TOTAL		0.100	0.100

KEY RATIOS

PARTICULARS	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	0.10	0.10

Current Ratio (Current Asset/Current Liability)	7.10	7.10

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
12]	Profitability for last three years	No
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	No
24]	Banking facility details	No
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	No
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	No

PERFORMANCE:

The company has not commenced its operations.

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 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.53.66
UK Pound	1	Rs.86.37
Euro	1	Rs.69.24

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		18

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.

MIRA INFORM REPORT

Unit