MIRA INFORM REPORT

Report Date :

08.10.2012

IDENTIFICATION DETAILS

Name :	RAJESH ESTATES AND NIRMAN PRIVATE LIMITED (w.e.f. 16.11.2007)
Formerly Known As :	RAJESH ESTATES AND NIRMAN LIMITED
Registered Office :	139 Seksaria Chambersn M Road, Fort, Mumbai – 400023, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.02.2005
Com. Reg. No.:	11-099089
Capital Investment / Paid-up Capital :	Rs.20.145 Millions
CIN No.: [Company Identification No.]	U28991MH2005PTC099089
TAN No.: [Tax Deduction & Collection Account No.]	MUMR18633G
PAN No.: [Permanent Account No.]	AAACR7599A
Legal Form :	Private Limited Liability Company
Line of Business :	Real Estate Developers
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 1700000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The company performance has improved. The company is successful in wipping off the losses of the previous year. However, 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.

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term Bank Facility = BBB
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	2010

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 :	139 Seksaria Chambersn M Road, Fort, Mumbai – 400023, Maharashtra, India
Tel. No.:	91-22-22671654 / 22670717
Fax No.:	91-22-22672013
E-Mail :	rajbuild@bom7.vsnl.net.in rejeshbuilder@vsnl.com
Area :	400 Sq. ft
Corporate Office :	RB House, MIDC Crossroad B, Off Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Rajeshbhai Patel

Designation :

Director

Address :

1/24, Kailas Kiran, Tilak Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, Indian

Date of Birth/Age :

20.01.1963

Date of Appointment :

16.02.2005

DIN No.:

00603761

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	U45200MH1983PTC031644	R R PATEL CONSTRUCTION PRIVATE LIMITED	Director	23/12/1983	23/12/1983	-	Active	NO
2	U26900MH1988PTC049420	ROYAL CERAMICS INDUSTRIES PRIVATE LIMITED	Director	31/10/1988	31/10/1988	-	Active	NO
3	U65990MH1992PTC068357	RAJESH LAND AND PROPERTY DEVELOPERS PRIVATE LIMITED	Director	1/9/1992	1/9/1992	-	Active	NO
4	U26933GJ1991PTC016589	RAVI TILES PRIVATE LIMITED	Director	27/11/1992	27/11/1992	-	Active	NO
5	U25200MH1992PLC066920	EBEN SECURITIES ANDLEASING LIMITED	Director	15/04/1994	15/04/1994	-	Active	NO
6	U67120MH1994PTC077656	RIMMON FINANCE AND INVESTMENT PRIVATE LIMITED	Director	1/8/1995	1/8/1995	-	Active	NO
7	U65990MH1994PTC080696	CAPRICON INFIN PRIVATE LIMITED	Director	26/08/1995	26/08/1995	-	Active	NO
8	U28990MH1996PTC098569	RAJESH HOSPITALITY PRIVATE LIMITED	Director	2/4/1996	2/4/1996	-	Active	NO
9	U34100MH1959PTC011267	KOTHARI AUTO PARTS MANUFACTURERS PRIVATE LIMITED	Director	12/3/2001	12/3/2001	-	Active	NO
10	U21010MH1938PTC002878	WESTERN INDIA PAPER AND BOARD MILLS PRIVATE LIMITED	Director	16/04/2003	16/04/2003	-	Active	NO
11	U28991MH2005PTC099089	RAJESH ESTATES AND NIRMAN PRIVATE LIMITED	Director	16/02/2005	16/02/2005	-	Active	NO
12	U55100MH2005PLC152491	RIVERGATE RESORT (INDIA) LIMITED	Director	5/7/2005	5/7/2005	-	Active	NO
13	U55100MH2005PTC156935	RAJESH BUSINESS AND LEISURE HOTELS PRIVATE LIMITED	Director	21/11/2005	21/11/2005	-	Active	NO
14	U70200MH2006PLC161184	NRC CONSTRUCTIONS LIMITED	Director	17/04/2006	17/04/2006	-	Active	NO
15	U70102MH2006PTC164188	RAJESH CONSTRUCTION COMPANY PRIVATE LIMITED	Director	30/08/2006	30/08/2006	-	Active	NO
16	U45201MH2008PTC180587	RAJESH INFRACON PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
17	U45400MH2008PTC180554	RAJESH SPACES PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
18	U70100MH2004PTC144565	ARIHANT TECHNO - ECONOMIC PARK PRIVATE LIMITED	Director	31/03/2008	31/03/2008	-	Active	NO
19	U70102MH2006PTC166268	RAJESH REAL ESTATE DEVELOPERS PRIVATE LIMITED	Director	24/06/2010	24/06/2010	-	Active	NO
20	U74120MH2011PTC213981	HALSON CHEMICALS PRIVATE LIMITED	Director	24/02/2011	24/02/2011	-	Active	NO
21	U70102MH2012PTC232605	RAJESH ESTATE VENTURES PRIVATE LIMITED	Director	25/06/2012	25/06/2012	-	Active	NO
22	U70109MH2012PTC232929	RAJESH CITYSPACES PRIVATE LIMITED	Director	4/7/2012	4/7/2012	-	Active	NO
23	U70100MH2012PTC233024	RAJESH LIFESPACES PRIVATE LIMITED	Director	5/7/2012	5/7/2012	-	Active	NO

Name :

Mr. Harish Raghavji Patel

Designation :

Director

Address :

1/24, Kailas Kiran, Tilak Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, Indian

Date of Birth/Age :

01.04.1955

Date of Appointment :

16.02.2005

DIN No.:

00603782

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	U45200MH1983PTC031644	R R PATEL CONSTRUCTION PRIVATE LIMITED	Director	23/12/1983	23/12/1983	-	Active	NO
2	U26900MH1988PTC049420	ROYAL CERAMICS INDUSTRIES PRIVATE LIMITED	Director	31/10/1988	31/10/1988	-	Active	NO
3	U26933GJ1991PTC016589	RAVI TILES PRIVATE LIMITED	Director	27/11/1992	27/11/1992	-	Active	NO
4	U25200MH1992PLC066920	EBEN SECURITIES AND LEASING LIMITED	Director	28/11/1994	28/11/1994	-	Active	NO
5	U65990MH1994PTC080696	CAPRICON INFIN PRIVATE LIMITED	Director	26/08/1995	26/08/1995	-	Active	NO
6	U67120MH1994PTC077656	RIMMON FINANCE AND INVESTMENT PVT LTD	Director	28/08/1995	28/08/1995	-	Active	NO
7	U28990MH1996PTC098569	RAJESH HOSPITALITY Private LIMITED	Director	2/4/1996	2/4/1996	-	Active	NO
8	U70102MH2000PTC126999	RARE TOWNSHIPS PRIVATE LIMITED	Director	5/6/2000	5/6/2000	-	Active	NO
9	U21010MH1938PTC002878	WESTERN INDIA PAPER AND BOARD MILLS PRIVATE LIMITED	Director	16/04/2003	16/04/2003	-	Active	NO
10	U28991MH2005PTC099089	RAJESH ESTATES AND NIRMAN Private Limited	Director	16/02/2005	16/02/2005	-	Active	NO
11	U55100MH2005PLC152491	RIVERGATE RESORT (INDIA) LIMITED	Director	12/7/2005	12/7/2005	-	Active	NO
12	U55100MH2005PTC156935	RAJESH BUSINESS AND LEISURE HOTELS Private LIMITED	Director	21/11/2005	21/11/2005	-	Active	NO
13	U34100MH1959PTC011267	KOTHARI AUTO PARTS MANUFACTURERS PRIVATE LIMITED	Director	27/12/2005	27/12/2005	-	Active	NO
14	U70200MH2006PLC161184	NRC Constructions Limited	Director	17/04/2006	17/04/2006	-	Active	NO
15	U70102MH2006PTC164188	RAJESH CONSTRUCTION COMPANY Private Limited	Director	30/08/2006	30/08/2006	-	Active	NO
16	U45201MH2008PTC180587	RAJESH INFRACON PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
17	U65990MH1992PTC068357	RAJESH LAND AND PROPERTY DEVELOPERS PRIVATE LIMITED	Director	30/09/2011	2/6/2011	-	Active	NO
18	U70102MH2012PTC232605	RAJESH ESTATE VENTURES PRIVATE LIMITED	Director	25/06/2012	25/06/2012	-	Active	NO
19	U70100MH2012PTC233024	RAJESH LIFESPACES PRIVATE LIMITED	Director	5/7/2012	5/7/2012	-	Active	NO

Name :

Mr. Kantilal Arjan Patel

Designation :

Director

Address :

7, Aparna, R B Mehta Marg, Ghatkopar (East), Mumbai – 400077, Maharashtra, Indian

Date of Birth/Age :

01.04.1950

Date of Appointment :

12.01.2006

DIN No.:

01634669

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	U26900MH1988PTC049420	ROYAL CERAMICS INDUSTRIES PRIVATE LIMITED	Director	31/10/1988	31/10/1988	-	Active	NO
2	U28991MH2005PTC099089	RAJESH ESTATES AND NIRMAN Private Limited	Director	12/1/2006	12/1/2006	-	Active	NO
3	U45400MH2008PTC180554	RAJESH SPACES PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
4	U70102MH2012PTC232605	RAJESH ESTATE VENTURES PRIVATE LIMITED	Director	10/7/2012	10/7/2012	-	Active	NO

Name :

Mr. Ajay Narsidas Patel

Designation :

Director

Address :

9/47, Vikas, Garodia Nagar, Ghatkopar (East), Mumbai – 400077, Maharashtra, Indian

Date of Birth/Age :

20.11.1960

Date of Appointment :

12.01.2006

DIN No.:

00290289

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	U26900MH1988PTC049420	ROYAL CERAMICS INDUSTRIES PRIVATE LIMITED	Director	31/10/1988	31/10/1988	-	Active	NO
2	U34100MH1959PTC011267	KOTHARI AUTO PARTS MANUFACTURERS PRIVATE LIMITED	Director	12/3/2001	12/3/2001	-	Active	NO
3	U55100MH2005PTC156935	RAJESH BUSINESS AND LEISURE HOTELS Private LIMITED	Director	21/11/2005	21/11/2005	-	Active	NO
4	U28991MH2005PTC099089	RAJESH ESTATES AND NIRMAN Private Limited	Director	12/1/2006	12/1/2006	-	Active	NO
5	U70102MH2006PTC164188	RAJESH CONSTRUCTION COMPANY PRIVATE LIMITED	Director	30/08/2006	30/08/2006	-	Active	NO
6	U70100MH2004PTC144565	ARIHANT TECHNO - ECONOMIC PARK PRIVATE LIMITED	Director	31/03/2008	31/03/2008	-	Active	NO
7	U45400MH2011PTC224199	TRIENITY INFRASTRUCTURES PRIVATE LIMITED	Director	21/11/2011	21/11/2011	-	Active	NO
8	AAA-8281	TRIENITY SUPERINFRA URBAN VENTURE LLP	Body corporate as Designated Partner	9/3/2012	9/3/2012	-	Active	NO
9	AAA-8281	TRIENITY SUPERINFRA URBAN VENTURE LLP	Designated Partner	9/3/2012	9/3/2012	-	Active	NO
10	AAB-1394	TRIENITY PRIME PROPERTY VENTURE LLP	Body corporate as Designated Partner	28/09/2012	28/09/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Rajesh Construction Company Limited, India	2014491
Raghavji P Patel	1
Harish R Patel	1
Rajesh R Patel	1
Ajay N Patel	1
Kantilal A Patel	1
Rahul N Patel	1
Pratik H Patel	1
Priyal K Patel	1
Mahesh N Patel	1
Total	2014500

As on 30.09.2011

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 :

Real Estate Developers

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Standard Chartered Bank, 90, M G Road, Fort, Mumbai - 400021, Maharashtra, India

Banking Relations :	--
Financial Institutions :	ICICI Home Finance Company Limited, ICICI Bank Towers, Bandra-Kurla, Complex, Mumbai - 400051, Maharashtra, India
Auditors :
Name :	A. J. Kanakia and Company Chartered Accountants
Address :	1, Alankar, Ground Floor, 251, Sion Main Road, Sion (West), Mumbai – 100023, Maharashtra, India
Tel. No.:	91-22-24070082 / 83
Fax No.:	91-22-24097878
PAN.:	AAAFA2089B
Holding Company :	Rajesh Construction Company Private Limited CIN No. U70102MH2006PTC164188
Subsidiaries Company :	Arihant techno Economic Park Private Limited Kothari Auto Parts Manufacturer Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2014500	Equity Shares	Rs.10/- each	Rs.20.145 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		20.145	20.145	20.145
2] Share Application Money		241.102	241.102	253.102
3] Reserves & Surplus		186.667	0.000	0.000
4] (Accumulated Losses)		0.000	(1.702)	(1.135)
NETWORTH		447.914	259.545	272.112
LOAN FUNDS
1] Secured Loans		1819.112	1030.973	1047.078
2] Unsecured Loans		1209.127	1246.408	947.631
TOTAL BORROWING		3028.239	2277.381	1994.709
DEFERRED TAX LIABILITIES		0.912	0.000	0.000
TOTAL		3477.065	2536.926	2266.821
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		23.969	14.811	13.321
Capital work-in-progress		2572.373	1617.236	1099.904
INVESTMENT		88.349	47.676	47.676
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.034	12.740	2.132
	Sundry Debtors	502.363	0.000	0.000
	Cash & Bank Balances	15.203	54.427	2.174
	Other Current Assets	411.617	789.229	786.933
	Loans & Advances	888.283	879.693	803.039
Total Current Assets		1825.500	1736.089	1594.278
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	89.617	75.129	51.358
	Other Current Liabilities	762.199	726.035	352.642
	Provisions	181.802	78.265	84.952
Total Current Liabilities		1033.618	879.429	488.952
Net Current Assets		791.882	856.660	1105.326
MISCELLANEOUS EXPENSES		0.492	0.543	0.594
TOTAL		3477.065	2536.926	2266.821

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	507.098	0.000	0.000
		Other Income	1.785	0.000	0.000
		TOTAL (A)	508.883	0.000	0.000
Less	EXPENSES
		Decrease / (Increase) in Work in progress	(567.358)	(517.332)	(500.112)
		Decrease / (Increase) in Stock of Materials	4.706	(10.607)	1.781
		Material Purchases	210.830	208.442	222.437
		Labour Charges	103.538	91.341	77.673
		Other Direct Expenses	194.881	41.868	52.422
		Indirect Expenses	93.882	76.606	49.689
		Selling Expenses	8.899	0.224	3.357
		Donation	0.069	0.659	0.130
		Interest on Late Payment of TDS	0.020	0.063	0.380
		Excess TDS Paid	0.002	0.000	0.000
		Preliminary Expenses W/off	0.051	0.051	0.051
		TOTAL (B)	49.520	(108.685)	(92.192)
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		459.363	108.685	92.192
Less	FINANCIAL EXPENSES (D)		169.287	109.459	92.752
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		290.076	(0.774)	(0.560)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.946	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		284.130	(0.774)	(0.560)
Less	TAX (H)		95.762	(0.207)	0.214
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		188.368	(0.567)	(0.774)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(1.702)	(1.135)	(0.361)
	BALANCE / (LOSS) CARRIED TO THE B/S		186.666	(1.702)	(1.135)
	Earnings / (Loss) Per Share (Rs.)		9.51	(0.28)	(0.38)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	37.02	0.00	0.00
Net Profit Margin (PBT/Sales)	(%)	56.03	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	15.36	(0.04)	(0.03)
Return on Investment (ROI) (PBT/Networth)		0.63	0.00	0.00
Debt Equity Ratio (Total Liability/Networth)		9.07	12.16	9.13
Current Ratio (Current Asset/Current Liability)		1.77	1.97	3.26

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	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 three 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	Yes
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
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	Yes

CONTINGENT LIABILITY

Rs. in Millions

Particular	31.03.2011	31.03.2010
On Account of corporate guarantces issued by the company to the bankers for facilities availed by the holding company – Rajesh Construction Company Limited (Amount outstanding as at 31.03.2011)	62.000	0.000

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U28991MH2005PTC099089
Name of the company	RAJESH ESTATES AND NIRMAN PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	139 Seksaria Chambersn M Road, Fort -400023, Mumbai Maharashtra, India rajbuild@bom7.vsnl.net.in
This form is for	Creation of charge
Type of charge	Immovable property Any interest in immovable property Book debts Others (Escrow, DSR A/c, Project docs)
Particular of charge holder	ICICI Home Finance Company Limited, ICICI Bank Towers, Bandra-Kurla, Complex, Mumbai - 400051, Maharashtra, India pratap.salian@icicihfc.com
Nature of instrument creating charge	Indenture of mortgage dated 25.06.2012 for the credit facility of Rs.1000.000 Millions granted to the company.
Date of instrument Creating the charge	25.06.2012
Amount secured by the charge	Rs.1000.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest The rate of interest for each tranche shall be 3.50% per annum below ICICI HFC Prime Lending Rate (IHPLR) prevailing on the date of disbursement of such tranche. Present rate of Interest @ 14% p.a. Terms of Repayment The Repayment will be in 18 monthly installments in accordance with the repayment schedule as set forth in Schedule IV of Indenture of Mortgage. The first of such installment of repayment shall fall due on 15-10-2013. Margin As per the Indenture of Mortgage dated 25-06-2012. Extent and Operation of the charge As per the Indenture of Mortgage dated 25-06-2012 and pari passu charge with ICICI Bank Limited
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All that pieces and parcels of land bearing CTS Nos. 92A and 92B situated at Village Hariyali, Agra Road, Near Vikhroli, Mumbai admesuring about 12813.70 sq. mtrs, All that pieces and parcels of land bearing CTS Nos. 609/A, B; 610/A to C, 610/1-A to; 610/7-A & B situated at Village Kanjur, LBS Marg, Bhandup (West), Mumbai - 78 admesuring about 18585.9 sq. mtrs, and all the leasehold rights to the pieces and parcel of land bering CTS Nos. 610/4-A to D situated at Village Kanjur, LBS Marg, Bhandup (West), Mumbai - 78 admesuring about 5811.3 sq. mtrs, Lease hold rights on all the pieces and parcels of land bearing CTS No 183B of Village Mulgaon & CTS Nos 34/2A and 32/2B of Village Chakala admeasuring about 2,525.30 square metres situated at Andheri Kurla Road, Mumbai.

FIXED ASSETS

• Moto
• Scooler
• Office Equipment
• Air Conditions
• Telecom System

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.51.62
UK Pound	1	Rs.83.57
Euro	1	Rs.67.17

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		50

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.