MIRA INFORM REPORT

Report Date :

03.10.2012

IDENTIFICATION DETAILS

Name :	PARQUET FURNISHERS PRIVATE LIIMTED
Registered Office :	D – 48, First Floor, Ajay Enclave, Near Subash Nagar Crossing, New Delhi – 110018, India
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	01.02.1995
Com. Reg. No.:	55-064936
Capital Investment / Paid-up Capital :	Rs. 0.500 million
CIN No.: [Company Identification No.]	U74899DL1995PTC064936
Legal Form :	Private Limited Liability Company
Line of Business :	Importer, Exporter and Trader of Wooden Flooring, Sports Floors, both hardwood and synthetic for Squash courts, Gymnasiums and Multipurpose sports facilities as well.
No. of Employees :	35 (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 47000
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 commitment. 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.

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.

INFORMATION PARTED BY

Name :	Mr. Ranjan
Designation :	Manager
Contact No.:	91-124-4984900
Date :	01.10.2012

LOCATIONS

Registered Office :	D - 48, First Floor, Ajay Enclave, Near Subash Nagar Crossing, New Delhi – 110018
Tel. No.:	Not Available
Mobile No.:	91-9810084947 (Mr. Ranjan)
Fax No.:	Not Available
E-Mail :	info@woodfloorsindia.com ca@hsahujaandco.com
Website :	www.woodfloorsindia.com
Factory 1 :	213, Udyog Vihar, Phase 6, Gurgaon – 122002, Haryana, India
Tel. No.:	91-124-4984900
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Navinder Singh Soin

Designation :

Director

Address :

C-35, Sushant Lok - I, Gurgoan - 122002, Haryana, India

Date of Birth/Age :

07.10.1971

Date of Appointment :

10.04.1995

DIN No.:

01087375

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	U74899DL1995PTC064936	PARQUET FURNISHERS PRIVATE LIMITED	Director	10/04/1995	10/04/1995	-	Active	NO
2	U92412DL2010PTC204685	ASTRAL SPORTS FACTORY PRIVATE LIMITED	Additional director	07/12/2010	07/12/2010	-	Active	NO

Name :

Mr. Bhopinder Pal Singh

Designation :

Whole –time Director

Address :

C-35, Sushant Lok - I, Gurgoan - 122003, Haryana, India

Date of Birth/Age :

08.10.1937

Date of Appointment :

01.02.1995

DIN No.:

01100598

Name :

Mrs. Sudha Bhopinder Singh

Designation :

Director

Address :

C-35, Sushant Lok - I, Gurgoan - 122003, Haryana, India

Date of Birth/Age :

27.03.1940

Date of Appointment :

01.02.1995

DIN No.:

01152051

MAJOR SHAREHOLDERS

As on 30.09.2011

Names of Shareholders	No. of Shares
Bhopinder Pal Singh	6000
Navinder Singh Soin	40100
Sudha B. Singh	3900
TOTAL	50000

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 :	Importer, Exporter and Trader of Wooden Flooring, Sports Floors, both hardwood and synthetic for Squash courts, Gymnasiums and Multipurpose sports facilities as well.
Brand Name:	Wood Floors India
Terms :
Selling :	Cash / Credit 30 days
Purchasing :	Cash / Credit 30 days

GENERAL INFORMATION

Customers :

Retailers

No. of Employees :

35 (Approximately)

Bankers :

• Punjab and Sind Bank, H S Road, Karol Bagh, Delhi – 110005, India
• IDBI Bank
• PSB Bank
• ICICI Bank
• HDFC Bank
• Standard Chartered Bank
• Barclays Bank

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
HDFC Bank ICICI Bank Limited Kotak Mahindra Prime Limited PSB Karol Bagh (cc 29071) PSB Renovation Loan Religare Invest Limited ABN Amro Finance Bajaj Auto Finance Bajaj Finance Limited Standard Chartered Bank PSB LC A/c Barclays Bank	0.000 0.000 0.115 20.915 10.748 2.447 1.017 0.930 1.398 1.002 0.500 3.291	0.160 0.032 0.252 13.753 9.552 0.000 1.490 1.484 0.000 1.524 0.500 1.082
Total	42.363	29.829
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Unsecured Loan	2.433	2.613
Total	2.433	2.613

Banking Relations :	--
Auditors :
Name :	H S Ahuja and Company Chartered Accountants
Address :	H-61, Gobind Mansion, Connaught Circus, New Delhi – 110001, India
PAN No.:	AAAFH1929B

CAPITAL STRUCTURE

As on 30.09.2011

Authorized 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
50000	Equity Shares	Rs. 10/- each	Rs. 0.500 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		0.500	0.500
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		11.432	8.499
4] (Accumulated Losses)		0.000	0.000
NETWORTH		11.932	8.999
LOAN FUNDS
1] Secured Loans		42.363	29.829
2] Unsecured Loans		2.433	2.613
TOTAL BORROWING		44.796	32.442
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		56.728	41.441
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		18.976	1.269
Capital work-in-progress		0.000	0.000
INVESTMENT		0.279	0.279
DEFERREX TAX ASSETS		0.102	0.076
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.969	15.437
	Sundry Debtors	18.105	2.617
	Cash & Bank Balances	2.800	5.807
	Other Current Assets	5.391	18.576
	Loans & Advances	15.255	15.207
Total Current Assets		57.520	57.644
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	18.424	15.998
	Other Current Liabilities	0.407	0.853
	Provisions	1.318	0.976
Total Current Liabilities		20.149	17.827
Net Current Assets		37.371	39.817
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		56.728	41.441

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011	31.03.2010
	TURNOVER	104.200	79.200
	EXPENSES	NA	NA
	PROFIT BEFORE TAX	4.194	2.868
Less	TAX	1.260	0.900
	PROFIT AFTER TAX	2.934	1.968
	Earnings Per Share (Rs.)	58.68	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	2.82	2.48
Return on Total Assets (PBT/Total Assets}	(%)	5.48	15.01
Return on Investment (ROI) (PBT/Networth)		0.35	0.32
Debt Equity Ratio (Total Liability/Networth)		5.44	5.58
Current Ratio (Current Asset/Current Liability)		2.85	3.23

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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
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
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

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74899DL1995PTC064936
Name of the company	PARQUET FURNISHERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	D-48, FIRST FLOOR, AJAY ENCLAVE, NEAR SUBASH NAGAR CROSSING, NEW DELHI Delhi INDIA 110018 e-mail: ca@hsahujaandco.com
This form is for	Modification of charge
Charge identification number of the modified	10067848
Type of charge	Lien on FDR
Particular of charge holder	PUNJAB & SIND BANK, H S ROAD, KAROL BAGH, NEW DELHI – 110005, INDIA e-mail: jagjit1548@hotmail.com
Nature of description of the instrument creating or modifying the charge	CONFIRMATION OF BANK FOR OUTSTANDING BANK GUARANTEE(S)
Date of instrument Creating the charge	11.07.2012
Amount secured by the charge	Rs. 2.687 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Commission as per Bank norms Terms of Repayment On the expiry of Bank Guarantee Margin As per Bank Norms Extent and Operation of the charge Bank Guarantee o/s Rs 2.687 millions Margin 100% secured by way of FDR
Short particulars of the property charged	Bank Guarantee o/s Rs 2.687 millions Margin 100% secured by way of FDR- The Bank has full lien on FDRs till the Bank guarantees are returned back
Particulars of the present modification	Exiting charge of Rs 53.200 millions may be modified to Bank Guarantee(s) o/s amount of Rs 2.687 millions secured by way of FDR of 100% value as the remaining credit facilities have been adjusted in full and final

TRADE REFERENCES

Five Star Hotels

• Taj GVK Hotels and Resorts Limited, Hyderabad
• Hotel Amar Vilas, Agra
• Indian Hotels and Health Resorts, Palace Hotel, Srinagar
• Imperial Hotel, New Delhi
• Bharat Hotels Limited, New Delhi
• Raddison Hotel, New Delhi
• The Oberoi Cecil, Shimla
• Maurya Sheraton- Hotel, New Delhi
• Taj Palace, New Delhi
• Mashobra Resorts Limited, Mashobra
• Oberoi Grand, Calcutta
• Oberoi, Bangalore
• Taj, Mumbai

Four Star Hotels

• Ambassador Resorts, Manali
• Manali Resorts, Manali
• New Age Hotels and Resorts, Nainital
• Roshan Resorts, Manali
• Kamal Palace Hotel, Jalandhar
• Sahara India, Lonavala
• Palace Resorts, Nainital
• Manu Maharani Hotel, Nainital
• The Bristol, Gurgaon
• Ajit Bhawan, Jodhpur

FIXED ASSETS:

• Air Conditioner
• Car
• Land
• Building
• Coffee Machine
• Computer
• CCTV Camera
• Desert Cooler
• Fax Machine
• Furniture and Fixture
• Generator
• Invertor
• Scooters
• Telephone Instrument
• Pagers
• Maxi Truck
• Auto
• Television

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.52.78
UK Pound	1	Rs.85.16
Euro	1	Rs.67.79

INFORMATION DETAILS

Report Prepared by :

NID

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	YES
--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.