MIRA INFORM REPORT

Report Date :

23.11.2012

IDENTIFICATION DETAILS

Name :	TAHIRA LIFESTYLE PRIVATE LIMITED (w.e.f.23.02.2010)
Formerly Known As :	BALAJI IMMITATION JEWELLERY PRIVATE LIMITED
Registered Office :	203, Dhantak Plaza, Makwana Road, Marol Naka , Mumbai – 400059, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.03.2009
Com. Reg. No.:	11- 190899
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U36911MH2009PTC190899
TAN No.: [Tax Deduction & Collection Account No.]	MUMB19302D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Jewellery
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (14)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Trade appears some accumulated losses recorded by the company. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a 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	A1	A1

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 :	203, Dhantak Plaza, Makwana Road, Marol Naka , Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-61166116
Fax No.:	91-22-61448979
E-Mail :	tahira@pandsjewellery.com contact@thaira.biz
Website :	http://www.tahira.biz

DIRECTORS

As on 11.07.2011

Name :	Mrs. Swati Paresh Shah
Designation :	Director
Address :	Sudha Kalash, 52A, J Mehta Road, Malbar Hill, Mumbai – 400006, Maharashtra, India
Date of Birth/Age :	15.07.1963
Date of Appointment :	01.01.2010
DIN No.:	01925109

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	U36912MH2007PTC176267	P AND S SHRINGAR PRIVATE LIMITED	Director	01-01-08	01-01-08	Active	NO
2	U45202MH2008PTC185087	P AND S NIRMAN PRIVATE LIMITED	Director	25-07-08	25-07-08	Active	NO
3	U36912MH1996PLC096788	P AND S JEWELLERY LIMITED	Director	01-07-09	01-07-09	Active	NO
4	U36911MH2009PTC190899	TAHIRA LIFESTYLE PRIVATE LIMITED	Director	01-01-10	01-01-10	Active	NO

Name :	Mr. Vipin Janardhan Sankhe
Designation :	Director
Address :	149 RSC / III Park Street, SVP Nagar, Andheri (West), Mumbai – 400053, Maharashtra, India
Date of Birth/Age :	27.04.1971
Date of Appointment :	01.02.2010
DIN No.:	02307714

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	U36911MH2009PTC190899	TAHIRA LIFESTYLE PRIVATE LIMITED	Director	01-02-10	01-02-10	Active	NO
2	U45400MH2010PTC204327	JANAVAS REALTY PROJECTS PRIVATE LIMITED	Director	01-07-10	01-07-10	Active	NO
3	U45201MH2010PTC205528	JANAVAS PROPERTIES PRIVATE LIMITED	Director	26-07-10	26-07-10	Active	NO
4	U70102MH2010PTC208143	JANAVAS REALSTRUCTURE PRIVATE LIMITED	Director	24-09-10	24-09-10	Active	NO
5	U70100MH2010PTC208141	JANAVAS HOMES PRIVATE LIMITED	Director	24-09-10	24-09-10	Active	NO
6	U36900MH2011PLC212559	TIRU GOLD LIMITED	Director	20-01-11	20-01-11	Active	NO

Name :	Mr. Shalin Kailash Shah
Designation :	Director
Address :	19/A, Maheshwar Prakash No.2, Cottage Lane, Santacruze (West), Mumbai – 400054, Maharashtra, India
Date of Birth/Age :	30.09.1988
Date of Appointment :	01.02.2010
DIN No.:	02954273

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	U36911MH2009PTC190899	TAHIRA LIFESTYLE PRIVATE LIMITED	Director	01-02-10	01-02-10	Active	NO
2	U29253MH2011PTC212184	RUBICON INDIA ENTERPRISES PRIVATE LIMITED	Director	11-01-11	11-01-11	Active	NO
3	U36900MH2011PLC212559	TIRU GOLD LIMITED	Director	20-01-11	20-01-11	Active	NO

Name :	Mr. Viraj Chetan Shah
Designation :	Director
Address :	33/B, Rekha Building, Ridge Road, Malbar Hill, Mumbai – 400006, Maharashtra, India
Date of Birth/Age :	14.09.1987
Date of Appointment :	01.02.2010
DIN No.:	02954305

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	U36911MH2009PTC190899	TAHIRA LIFESTYLE PRIVATE LIMITED	Director	01-02-10	01-02-10	Active	NO
2	U29253MH2011PTC212184	RUBICON INDIA ENTERPRISES PRIVATE LIMITED	Director	11-01-11	11-01-11	Active	NO
3	U36900MH2011PLC212559	TIRU GOLD LIMITED	Director	20-01-11	20-01-11	Active	NO
4	U36912MH1996PLC096788	P AND S JEWELLERY LIMITED	Additional director	02-01-12	02-01-12	Active	NO

Name :	Mr. Rajesh Thazhillathu Ninikileri
Designation :	Director
Address :	27/3244, Maria Villa, Behind Police Starion, Perumanoor Po, Ernakulam – 682015, Kerala, India
Date of Birth/Age :	13.03.1972
Date of Appointment :	20.04.2011
DIN No.:	01421142

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	U63040KL2006PLC019385	IMPRESARIO LEISURE HOLIDAYS LIMITED	Director	01-06-06	01-06-06	18-02-12	Active	NO
2	U72300DL2007PTC169094	SCALE EPDS PRIVATE LIMITED	Director	19-11-07	19-11-07	20-11-07	Under Process of Striking off	NO
3	U92490KL2007PLC021482	IMPRESARIO MOTION PICTURES LIMITED	Director	30-11-07	30-11-07	18-02-12	Active	NO
4	U72200KL2009PTC023719	QANDA COMMUNICATIONS PRIVATE LIMITED	Director	19-01-09	19-01-09	-	Active	NO
5	U36911MH2009PTC190899	TAHIRA LIFESTYLE PRIVATE LIMITED	Director	20-04-11	20-04-11	-	Active	NO
6	U63040KL2012PTC030428	BUCKETLIST TRAVEL COMPANY PRIVATE LIMITED	Director	02-02-12	02-02-12	-	Active	NO

Name :	Mr. Padmanabh Madhukar Vaidya
Designation :	Director
Address :	983/2 Saras Nagar Society, B/6, Pune – 411002, Maharashtra, India
Date of Birth/Age :	23.04.1967
Date of Appointment :	20.04.2011
DIN No.:	03039523

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	U74999PN2010PTC137130	COGNICARE TRAINING SOLUTIONS PRIVATE LIMITED	Director	17-08-10	17-08-10	Active	NO
2	U36911MH2009PTC190899	TAHIRA LIFESTYLE PRIVATE LIMITED	Director	20-04-11	20-04-11	Active	NO

Name :	Mr. Ashwin Raghavendra Umarji
Designation :	Director
Address :	I-701, Prakriti, Baner – Balewadi Road, Pune – 411045, Maharashtra, India
Date of Birth/Age :	29.06.1974
Date of Appointment :	20.04.2011
DIN No.:	03398433

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 11.07.2011

Names of Shareholders	No. of Shares
Paresh Chhabildas Shah	7500
Vipin Janardhan Sankhe	2500
Total	10000

As on 11.07.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Jewellery

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Union Bank of India

Facilities :

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Paresh Shah	1.075	0.953
P and S Jewellery Private Limited	0.955	0.150
P and S Nirman private Limited	0.500	0.000
P and S Shringar Private Limited	2.089	0.000
Vijaya V Sankhe	0.425	0.000
Vipin V Sankhe	0.475	0.000
Total	5.519	1.103

Banking Relations :	--
Auditors :
Name :	Bharat Desai and Company Chartered Accountants
Address :	Pitru-Chhaya, 21, Swastik Society, N. S. Road No.2, Juhu Dev.Scheme, Vile-Parle (West), Mumbai – 400056, Maharashtra, India
PAN.:	AAEFB2439E

CAPITAL STRUCTURE

As on 11.07.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 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		31.03.2011	31.03.2010
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)		(7.076)	0.000
NETWORTH		(6.976)	0.100
LOAN FUNDS
1] Secured Loans		5.519	1.103
2] Unsecured Loans		0.121	0.000
TOTAL BORROWING		5.640	1.103
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		(1.336)	1.203
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.809	1.359
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	12.741	0.315
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.028	1.060
	Other Current Assets	1.451	0.445
	Loans & Advances	0.007	0.000
Total Current Assets		14.227	1.820
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	15.345	1.662
	Other Current Liabilities	2.352	0.728
	Provisions	0.010	0.005
Total Current Liabilities		17.707	2.395
Net Current Assets		(3.480)	(0.575)
MISCELLANEOUS EXPENSES		0.335	0.419
TOTAL		(1.336)	1.203

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	6.257	0.000
		Other Income	0.025	0.000
		TOTAL	6.282	0.000
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	10.344	0.419
	NET LOSS		(6.956)	(0.419)
	Earnings Per Share (Rs.)		--	--

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010
Debt Equity Ratio (Total Liability/Networth)	(3.35)	34.98
Current Ratio (Current Asset/Current Liability)	0.80	0.76

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 two 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	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Note:

The registered office address of the company has been shifted from “Flat No .324, Third Floor, Visava Building No.1, D Wing, Hijibapu Road, Chincholi Gate, Malad (East), Mumbai – 400097, Maharashtra, India” to the present address w.e.f. 01.02.2010

Financial Results:

The Company has made total sales of Rs. 6.257 Millions and other income earned during the year amounted to Rs. 0.025 Million Total expenditure incurred during the year amounted To Rs. 10.344 Millions as compared to Rs. 0.419 Million during the previous year Therefore total loss incurred during the year amounted to Rs.6.956 Millions as compared to Rs. 0.419 Million during the previous year.

Fixed Assets:

· Computers

· Office Equipments

· Printer

· Furniture

· LG Air Conditioner (at Pune)

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.55.16
UK Pound	1	Rs.88.03
Euro	1	Rs.70.86

INFORMATION DETAILS

Report Prepared by :

BSN

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	2
--PROFITABILIRY	1~10	2
--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		14

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	-

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.