MIRA INFORM REPORT

Report Date :

23.10.2012

IDENTIFICATION DETAILS

Name :	ASSOCIATE DECOR LIMITED (w.e.f. 03.08.2011)
Formerly Known As :	STAR PANEL BOARDS LIMITED
Registered Office :	No. 400, 1^st Floor, 1^st Block, 2^nd Main Road, R.T. Nagar, Bangalore-560032, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.01.2007
Com. Reg. No.:	08-041502
Capital Investment / Paid-up Capital :	Rs.515.100 millions
CIN No.: [Company Identification No.]	U20213KA2007PLC041502
TAN No.: [Tax Deduction & Collection Account No.]	BLRS29101C
PAN No.: [Permanent Account No.]	AAKCS5136Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Premium Decorative Laminates and the most advanced Plain and Pre-Laminated Particleboards.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 2348000
Status :	Recently commenced business activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Mr. Sanjay Kavedia, Accounts Manager has confirmed that even though the subject was incorporated during 2007, it has started its business activities from June 2012. Networth of the company appears to be good. Business is active. Payment terms are unknown. The company can be considered for business dealings with some caution.

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 :	No. 400, 1^st Floor, 1^st Block, 2^nd Main Road, R.T. Nagar, Bangalore-560032, Karnataka, India
Tel. No.:	91- 80-23434781 / 82
Fax No.:	91- 80-23434492
E-Mail :	yfd@associategroup.in wa2.malur@associategroup.in wa1.malur@associategroup.in associatedecor@associategroup.in
Website :	http://www.associatedecor.in
Corporate Office :	Associate House 15, Hill Road, Bandra (West), Mumbai - 400050, Maharashtra, India
Tel. No.:	91-22-26456661
Fax No.:	91-22-26456662
E-Mail :	corporate.adl@associategroup.in
Factory :	Plot No. 1, Phase IV, KIADB, Industrial Area, Malur Taluk, Kolar District – 563160, Karnataka, India
Tel. No.:	91- 8151-305037
Fax No.:	91- 8151-305040
E-Mail :	works.malur@associategroup.in

DIRECTORS

As on 28.09.2011

Name :

Mr. Farooq Ali Khan

Designation :

Managing director

Address :

No. 21, Benson A Cross Road, Benson Town Post, Bangalore - 560046, Karnataka, India

Date of Appointment :

01.04.2011

DIN No.:

01087814

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	U85110KA1992PTC013760	ALCON CERAMICS PRIVATE LIMITED	Director	04/12/1992	04/12/1992	-	Active	NO
2	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Managing director	01/04/2011	17/01/2007	-	Active	NO

Name :

Mr. Mohamad Farouk Suleman Darvesh

Designation :

Director

Address :

7, Perry Cross Road. Bandra. Mumbai – 400050, Maharashtra, India

Date of Appointment :

17.01.2007

DIN No.:

00364297

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	U02001MH1979PTC021905	F S D TIMBERS PRIVATE LIMITED	Director	16/11/1979	16/11/1979	-	Active	NO
2	U20101MH1986PTC039719	ASSOCIATE LUMBERS PVT LTD	Director	01/05/1986	01/05/1986	-	Active	NO
3	U70200MH1989PTC052479	ASSOCIATE INFRATECH (I) PRIVATE LIMITED	Director	06/07/1989	06/07/1989	-	Active	NO
4	U02000MH1989PLC053993	TIMBER IMPORTERS ASSOCIATION INDIA LIMITED	Managing director	23/10/1989	23/10/1989	-	Active	NO
5	U20100MH1991PTC060280	ASSOCIATE PLYWOOD INDUSTRIES PRIVATE LIMITED	Director	05/02/1991	05/02/1991	-	Active	NO
6	U70101MH1994PTC078627	SHAMIANA CONSTRUCTIONS PRIVATE LIMITED	Director	10/06/1994	10/06/1994	-	Active	NO
7	U65990MH1994PTC079715	ASSOCIATE HOLDINGS PRIVATE LIMITED	Director	19/07/1994	19/07/1994	-	Active	NO
8	U45200MH1994PTC081238	EXOTICA CONSTRUCTION AND BUILDERS PRIVATE LIMITED	Director	19/09/1994	19/09/1994	-	Active	NO
9	U01130MH1995PTC093416	ASSOCIATE PLANTATIONS PRIVATE LIMITED	Director	09/10/1995	09/10/1995	-	Active	NO
10	U74940MH1995PTC094790	PRIME HI-TECH STUDIOS PRIVATE LIMITED	Director	27/11/1995	27/11/1995	-	Active	NO
11	U17110GJ1994PLC023540	PADMANABH ALLOYS AND POLYMERS LIMITED	Director	30/04/1996	30/04/1996	09/06/2012	Active	NO
12	U45200MH1994PTC079129	TOUCHWOOD REAL ESTATE P LTD.	Director	30/09/2004	30/09/2004	-	Active	NO
13	U40101MH2005PTC151501	ASSOCIATE ENERGY PRIVATE LIMITED	Director	22/02/2005	22/02/2005	-	Active	NO
14	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
15	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	13/08/2005	13/08/2005	-	Active	NO
16	U70100MH2005PTC157459	AMETHYST ESTATES PRIVATE LIMITED	Director	22/11/2005	22/11/2005	-	Active	NO
17	U70100MH2005PTC157486	RIVERWOOD ESTATE PRIVATE LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
18	U70100MH2005PTC157485	OPAL ESTATES PRIVATE LIMITED	Director	23/11/2005	23/11/2005	14/01/2010	Active	YES
19	U70100MH2005PTC158395	DAISIES ESTATES PRIVATE LIMITED	Director	22/12/2005	22/12/2005	-	Active	NO
20	U45200MH2004PTC145921	SUKOON DEVELOPERS PRIVATE LIMITED	Director	18/08/2006	18/08/2006	-	Active	NO
21	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	17/01/2007	17/01/2007	-	Active	NO
22	U45102MH2006PTC158722	SAPNA CONTRACTORS AND ENGINEERS PRIVATE LIMITED	Director	03/08/2007	03/08/2007	-	Active	NO
23	U21016MH2007PTC174146	CROWN FIBRE BOARD PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
24	U70101MH2008PTC180576	ASSOCIATE LAND DEVELOPERS PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
25	U70101MH2008PTC180573	ASSOCIATE HEIGHTS ESTATE PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
26	U45400MH2008PTC180655	ASSOCIATE HERITAGE RESTORATION AND INFRASTRUCTURE PROJECTS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
27	U02005MH2008PTC180843	FAROUK SODAGAR DARVESH & CO. PRIVATE LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO
28	U45400MH2008PTC181368	ASSOCIATE TOWNSHIP BUILDERS PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
29	U45202MH2008PTC181367	ASSOCIATE GRIH NIRMAN PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
30	U45200MH1994PTC081456	SILVER VALLEY PROPERTIES PRIVATE LIMITED	Director	27/09/2010	05/02/2010	-	Active	NO
31	U45200MH1994PTC080135	ASSOCIATE NIWAS DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	05/02/2010	-	Active	NO
32	U45201MH2010PTC207907	FSD BUILDING MATERIALS PRIVATE LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO
33	U45402MH2010PTC208925	ASSOCIATE SHIVAM REALTY PRIVATE LIMITED	Director	13/10/2010	13/10/2010	-	Active	NO
34	U70102MH2010PTC206107	VIBRANT VENTURE PRIVATE LIMITED	Director	28/09/2012	25/04/2012	-	Active	NO
35	U70109MH2011PTC211968	ACCESS NIWAS CONSTRUCTION PRIVATE LIMITED	Director	05/07/2012	25/04/2012	-	Active	NO

Name :

Mr. Ebrahim Suleman Darvesh

Designation :

Director

Address :

7, Perry Cross Road, Bandra, Mumbai – 400050, Maharashtra, India

Date of Appointment :

17.01.2007

DIN No.:

00364630

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	U02001MH1979PTC021905	F S D TIMBERS PRIVATE LIMITED	Director	16/11/1979	16/11/1979	-	Active	NO
2	U20101MH1986PTC039719	ASSOCIATE LUMBERS PVT LTD	Director	01/05/1986	01/05/1986	-	Active	NO
3	U70200MH1989PTC052479	ASSOCIATE INFRATECH (I) PRIVATE LIMITED	Director	06/07/1989	06/07/1989	-	Active	NO
4	U20100MH1991PTC060280	ASSOCIATE PLYWOOD INDUSTRIES PRIVATE LIMITED	Director	05/02/1991	05/02/1991	-	Active	NO
5	U70101MH1994PTC078627	SHAMIANA CONSTRUCTIONS PRIVATE LIMITED	Director	10/06/1994	10/06/1994	-	Active	NO
6	U65990MH1994PTC079715	ASSOCIATE HOLDINGS PRIVATE LIMITED	Director	08/08/1994	08/08/1994	-	Active	NO
7	U45200MH1994PTC081238	EXOTICA CONSTRUCTION AND BUILDERS PRIVATE LIMITED	Director	19/09/1994	19/09/1994	-	Active	NO
8	U45200MH1995PTC084606	ISLAND BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	03/04/1995	03/04/1995	07/11/2008	Active	NO
9	U20100MH1998PTC117102	ISLAND WOOD WORKS PRIVATE LIMITED	Director	13/11/1998	13/11/1998	-	Active	NO
10	U26100MH1999PTC121928	ISLAND GLASS AND GLAZING PRIVATE LIMITED	Director	24/09/1999	24/09/1999	-	Active	NO
11	U72900MH2000PTC129030	VIZWARE INFOTECH (INDIA) PRIVATE LIMITED	Director	06/10/2000	06/10/2000	-	Active	NO
12	U45200MH1994PTC083520	PRIME CONSTRUCTIONS AND DEVELOPERS PRIVATE LIMITED	Director	01/11/2000	01/11/2000	-	Active	NO
13	U01130MH1995PTC093416	ASSOCIATE PLANTATIONS PRIVATE LIMITED	Director	11/02/2005	11/02/2005	-	Active	NO
14	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
15	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	17/01/2007	17/01/2007	-	Active	NO
16	U21016MH2007PTC174146	CROWN FIBRE BOARD PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
17	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
18	U02005MH2008PTC180843	FAROUK SODAGAR DARVESH & CO. PRIVATE LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO
19	U45400MH2010PTC208782	ESD REALTY PRIVATE LIMITED	Director	08/10/2010	08/10/2010	-	Active	NO
20	U63012MH2011PTC219280	ESD COASTAL & MARINE PRIVATE LIMITED	Director	29/06/2011	29/06/2011	-	Active	NO

Name :

Mr. Nooruddin Khan

Designation :

Director

Address :

No. 316, 5^th Cross, 1^st Block, R.T. Nagar, Bangalore - 560032 Karnataka, India

Date of Appointment :

17.01.2007

DIN No.:

01087889

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	U85110KA1992PTC013760	ALCON CERAMICS PRIVATE LIMITED	Director	04/12/1992	04/12/1992	-	Active	NO
2	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	17/01/2007	17/01/2007	-	Active	NO

Name :

Mr. Himayath Ali Khan

Designation :

Director

Address :

No. 393. 2^nd Main Road, 1^st Block, R.T. Nagar, Bangalore - 560032 Karnataka, India

Date of Appointment :

17.01.2007

DIN No.:

01087959

Name :

Mr. Srichand Satramdas Agicha

Designation :

Director

Address :

6, Perry Cross Road, Bandra, Mumbai-400050, Maharashtra, India

Date of Appointment :

19.02.2007

DIN No.:

00364370

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	U20101MH1986PTC039719	ASSOCIATE LUMBERS PVT LTD	Director	01/05/1986	01/05/1986	-	Active	NO
2	U20100MH1991PTC060280	ASSOCIATE PLYWOOD INDUSTRIES PRIVATE LIMITED	Director	05/02/1991	05/02/1991	-	Active	NO
3	U45200MH1994PTC078445	PEARLQUEEN REAL ESTATE AND DEVELOPERS PRIVATE LIMITED	Director	16/06/1994	16/06/1994	-	Active	NO
4	U45200MH1994PTC079129	TOUCHWOOD REAL ESTATE P LTD.	Director	24/06/1994	24/06/1994	-	Active	NO
5	U65990MH1994PTC079715	ASSOCIATE HOLDINGS PRIVATE LIMITED	Director	08/08/1994	08/08/1994	-	Active	NO
6	U45200MH1994PTC080135	ASSOCIATE NIWAS DEVELOPERS PRIVATE LIMITED	Director	19/08/1994	19/08/1994	-	Active	NO
7	U45200MH1994PTC081456	SILVER VALLEY PROPERTIES PRIVATE LIMITED	Director	26/09/1994	26/09/1994	-	Active	NO
8	U45200MH1994PTC083520	PRIME CONSTRUCTIONS AND DEVELOPERS PRIVATE LIMITED	Director	06/12/1994	06/12/1994	-	Active	NO
9	U45200MH1995PTC084606	ISLAND BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	13/01/1995	13/01/1995	07/11/2008	Active	NO
10	U20100MH1998PTC117102	ISLAND WOOD WORKS PRIVATE LIMITED	Director	13/11/1998	13/11/1998	-	Active	NO
11	U26100MH1999PTC121928	ISLAND GLASS AND GLAZING PRIVATE LIMITED	Director	24/09/1999	24/09/1999	-	Active	NO
12	U01130MH1995PTC093416	ASSOCIATE PLANTATIONS PRIVATE LIMITED	Director	11/02/2005	11/02/2005	-	Active	NO
13	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
14	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	19/02/2007	19/02/2007	-	Active	NO
15	U70200MH1989PTC052479	ASSOCIATE INFRATECH (I) PRIVATE LIMITED	Director	22/06/2007	22/06/2007	-	Active	NO
16	U45102MH2006PTC158722	SAPNA CONTRACTORS AND ENGINEERS PRIVATE LIMITED	Director	05/09/2007	05/09/2007	-	Active	NO
17	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
18	U20212MH2008PTC180898	JAWAHAR SAW MILLS PRIVATE LIMITED	Director	07/04/2008	07/04/2008	-	Active	NO
19	U70101MH1994PTC078627	SHAMIANA CONSTRUCTIONS PRIVATE LIMITED	Director	15/12/2008	15/12/2008	-	Active	NO
20	U70102MH2010PTC206107	VIBRANT VENTURE PRIVATE LIMITED	Director	30/07/2010	30/07/2010	04/10/2010	Active	NO
21	U70102MH2010PTC200284	NINE ALPHA AGRI-PARKS & PROPERTIES PRIVATE LIMITED	Director	29/09/2011	06/12/2010	-	Active	NO
22	U70102MH2011PTC211952	ACUTECH REALTY & INFRA PROJECTS PRIVATE LIMITED	Director	06/01/2011	06/01/2011	-	Active	NO
23	U70102MH2011PTC211970	INTEGRATED ENCLAVE BUILDERS PRIVATE LIMITED	Director	07/01/2011	07/01/2011	-	Active	NO
24	U70109MH2011PTC211968	ACCESS NIWAS CONSTRUCTION PRIVATE LIMITED	Director	07/01/2011	07/01/2011	-	Active	NO
25	U70101MH2011PTC212070	SILVERSPARK ENCLAVE BUILDERS PRIVATE LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
26	U70102MH2011PTC213203	HIRISE TOWNSHIP AND GARDENS PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
27	U70102MH2011PTC213201	INNOVATIVE PROP AVENUES PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
28	U70102MH2011PTC213200	APEX PROPDEALS PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
29	U70102MH2011PTC213960	ABROTS INFRASTRUCTURE & PARK DEVELOPMENT PRIVATE LIMITED	Director	24/02/2011	24/02/2011	-	Active	NO
30	U74999MH2011PTC215090	PRISKA HERITAGE RESTORATION PRIVATE LIMITED	Director	22/03/2011	22/03/2011	-	Active	NO
31	U74990MH2011PTC215451	BLUESCHIST CLASSICO HERITAGE RECONSTRUCTION PRIVATE LIMITED	Director	28/03/2011	28/03/2011	-	Active	NO
32	U74999MH2011PTC215450	DITTANY HOSPITALITY PRIVATE LIMITED	Director	28/03/2011	28/03/2011	-	Active	NO
33	U74900MH2011PTC215484	JONQUILLE TOURISM PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
34	U74900MH2011PTC215481	FORNAX TOURISM PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
35	U74900MH2011PTC215477	KINAVA HERITAGE RESTORATION PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
36	U74900MH2011PTC215646	ZARK TOURISM PRIVATE LIMITED	Director	01/04/2011	01/04/2011	-	Active	NO
37	U74120MH2011PTC215739	ENZIAN HERITAGE RESTORATION PRIVATE LIMITED	Director	05/04/2011	05/04/2011	-	Active	NO
38	U74120MH2011PTC215737	TANZY HOSPITALITY PRIVATE LIMITED	Director	05/04/2011	05/04/2011	-	Active	NO
39	U74120MH2011PTC215728	ANTHEA TOURISM PRIVATE LIMITED	Director	05/04/2011	05/04/2011	-	Active	NO
40	U74900MH2011PTC216232	PERIWINKLE HOSPITALITY PRIVATE LIMITED	Director	13/04/2011	13/04/2011	-	Active	NO
41	U74900MH2011PTC216449	PYROLITE TOURISM PRIVATE LIMITED	Director	20/04/2011	20/04/2011	-	Active	NO
42	U70101MH2008PTC180576	ASSOCIATE LAND DEVELOPERS PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO

Name :

Mr. Manohar Satramdas Agicha

Designation :

Director

Address :

6, Perry Cross Road, Bandra, Mumbai -400050, Maharashtra, India

Date of Appointment :

19.02.2007

DIN No.:

00364700

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	U20101MH1986PTC039719	ASSOCIATE LUMBERS PVT LTD	Director	01/05/1986	01/05/1986	-	Active	NO
2	U70200MH1989PTC052479	Associate Infratech (I) Private Limited	Director	06/07/1989	06/07/1989	-	Active	NO
3	U02000MH1989PLC053993	TIMBER IMPORTERS ASSOCIATION INDIA LIMITED	Director	23/10/1989	23/10/1989	-	Active	NO
4	U45200MH1994PTC078445	PEARLQUEEN REAL ESTATE AND DEVELOPERS PRIVATE LIMITED	Director	16/06/1994	16/06/1994	-	Active	NO
5	U45200MH1994PTC079129	TOUCHWOOD REAL ESTATE P LTD.	Director	24/06/1994	24/06/1994	-	Active	NO
6	U65990MH1994PTC079715	ASSOCIATE HOLDINGS PRIVATE LIMITED	Director	19/07/1994	19/07/1994	-	Active	NO
7	L24230AP1989PLC009458	TRANS MEDICARE LIMITED	Director	01/08/1994	01/08/1994	06/08/2009	Active	NO
8	U45200MH1994PTC080135	ASSOCIATE NIWAS DEVELOPERS PRIVATE LIMITED	Director	19/08/1994	19/08/1994	-	Active	NO
9	U45200MH1994PTC081456	SILVER VALLEY PROPERTIES PRIVATE LIMITED	Director	26/09/1994	26/09/1994	-	Active	NO
10	U45200MH1994PTC083520	PRIME CONSTRUCTIONS AND DEVELOPERS PRIVATE LIMITED	Director	06/12/1994	06/12/1994	-	Active	NO
11	U45200MH1995PTC084606	ISLAND BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	13/01/1995	13/01/1995	-	Active	NO
12	U01130MH1995PTC093416	ASSOCIATE PLANTATIONS PRIVATE LIMITED	Director	09/10/1995	09/10/1995	-	Active	NO
13	U74940MH1995PTC094790	PRIME HI-TECH STUDIOS PRIVATE LIMITED	Director	27/11/1995	27/11/1995	-	Active	NO
14	U65923MH1991PLC063056	PREMIUM FINANCIAL SERVICES LIMITED	Director	04/12/1995	04/12/1995	18/08/2010	Active	NO
15	U20100MH1998PTC117102	ISLAND WOOD WORKS PRIVATE LIMITED	Director	13/11/1998	13/11/1998	-	Active	NO
16	U26100MH1999PTC121928	ISLAND GLASS AND GLAZING PRIVATE LIMITED	Director	24/09/1999	24/09/1999	-	Active	NO
17	U72900MH2000PTC129030	VIZWARE INFOTECH (INDIA) PRIVATE LIMITED	Director	06/10/2000	06/10/2000	-	Active	NO
18	U20100MH1991PTC060280	ASSOCIATE PLYWOOD INDUSTRIES PRIVATE LIMITED	Director	11/03/2002	11/03/2002	-	Active	NO
19	U40101MH2005PTC151501	ASSOCIATE ENERGY PRIVATE LIMITED	Director	22/02/2005	22/02/2005	-	Active	NO
20	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
21	U70100MH2005PTC157459	AMETHYST ESTATES PRIVATE LIMITED	Director	22/11/2005	22/11/2005	-	Active	NO
22	U70100MH2005PTC157486	RIVERWOOD ESTATE PRIVATE LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
23	U70100MH2005PTC157485	OPAL ESTATES PRIVATE LIMITED	Director	23/11/2005	23/11/2005	10/11/2009	Active	YES
24	U70100MH2005PTC158395	DAISIES ESTATES PRIVATE LIMITED	Director	22/12/2005	22/12/2005	-	Active	NO
25	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	19/02/2007	19/02/2007	-	Active	NO
26	U45102MH2006PTC158722	SAPNA CONTRACTORS AND ENGINEERS PRIVATE LIMITED	Director	03/08/2007	03/08/2007	-	Active	NO
27	U70101MH2008PTC180576	ASSOCIATE LAND DEVELOPERS PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
28	U70101MH2008PTC180573	ASSOCIATE HEIGHTS ESTATE PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
29	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
30	U45400MH2008PTC180655	ASSOCIATE HERITAGE RESTORATION AND INFRASTRUCTURE PROJECTS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
31	U20212MH2008PTC180898	JAWAHAR SAW MILLS PRIVATE LIMITED	Director	07/04/2008	07/04/2008	-	Active	NO
32	U45400MH2008PTC181368	ASSOCIATE TOWNSHIP BUILDERS PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
33	U45202MH2008PTC181367	ASSOCIATE GRIH NIRMAN PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
34	U70101MH1994PTC078627	SHAMIANA CONSTRUCTIONS PRIVATE LIMITED	Director	15/12/2008	15/12/2008	-	Active	NO
35	U70100MH2010PTC208682	ORIGIN VENTURE PRIVATE LIMITED	Director	06/10/2010	06/10/2010	-	Active	NO
36	U45402MH2010PTC208925	ASSOCIATE SHIVAM REALTY PRIVATE LIMITED	Director	13/10/2010	13/10/2010	-	Active	NO
37	U70102MH2010PTC206107	VIBRANT VENTURE PRIVATE LIMITED	Director	28/09/2012	25/04/2012	-	Active	NO
38	U70109MH2011PTC211968	ACCESS NIWAS CONSTRUCTION PRIVATE LIMITED	Director	05/07/2012	25/04/2012	-	Active	NO

Name :

Mr. Ashok Sunderdas Agicha

Designation :

Director

Address :

6, Master Vinayak Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Appointment :

19.02.2007

DIN No.:

01238363

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	U20101MH1986PTC039719	ASSOCIATE LUMBERS PVT LTD	Director	01/05/1986	01/05/1986	-	Active	NO
2	U70200MH1989PTC052479	ASSOCIATE INFRATECH (I) PRIVATE LIMITED	Director	15/07/1994	15/07/1994	-	Active	NO
3	U65990MH1994PTC079715	ASSOCIATE HOLDINGS PRIVATE LIMITED	Director	08/08/1994	08/08/1994	-	Active	NO
4	U01130MH1995PTC093416	ASSOCIATE PLANTATIONS PRIVATE LIMITED	Director	11/02/2005	11/02/2005	-	Active	NO
5	U40101MH2005PTC151501	ASSOCIATE ENERGY PRIVATE LIMITED	Director	22/02/2005	22/02/2005	-	Active	NO
6	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
7	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	13/08/2005	13/08/2005	-	Active	NO
8	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	19/02/2007	19/02/2007	-	Active	NO
9	U55101GJ2007PTC050098	A&I HOSPITALITY PRIVATE LIMITED	Director	26/02/2007	26/02/2007	31/12/2010	Active	NO
10	U20212MH2008PTC180898	JAWAHAR SAW MILLS PRIVATE LIMITED	Director	30/09/2009	03/08/2009	-	Active	NO

Name :

Mr. Yahya Darvesh Mohamed Farouk

Designation :

Director

Address :

Hoor Manzil, 7 Perry Cross Road, Bandra (West), Mumbai - 400050, Maharashtra, India

Date of Birth/Age :

20.11.1981

Date of Appointment :

25.09.2009

DIN No.:

02053549

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	U02005MH2008PTC180843	FAROUK SODAGAR DARVESH & CO. PRIVATE LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO
2	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	25/09/2009	04/07/2008	-	Active	NO
3	U70102MH2010PTC200284	NINE ALPHA AGRI-PARKS & PROPERTIES PRIVATE LIMITED	Director	20/02/2010	20/02/2010	-	Active	NO
4	U45400MH2008PTC180655	ASSOCIATE HERITAGE RESTORATION AND INFRASTRUCTURE PROJECTS PRIVATE LIMITED	Director	30/09/2010	22/02/2010	-	Active	NO
5	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	30/09/2010	22/03/2010	-	Active	NO
6	U45201MH2010PTC207907	FSD BUILDING MATERIALS PRIVATE LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO
7	U70200MH1989PTC052479	ASSOCIATE INFRATECH (I) PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO
8	U70109MH2011PTC211968	ACCESS NIWAS CONSTRUCTION PRIVATE LIMITED	Director	05/07/2012	25/04/2012	-	Active	NO

Name :

Mr. Siddharrth Srichand Agicha

Designation :

Director

Address :

6, The Agicha's Perry. Cross Road, Bandra (West), Mumbai - 400050 Maharashtra, India

Date of Birth/Age :

11.04.1982

Date of Appointment :

25.09.2009

DIN No.:

00481804

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	U20299MH2006PTC163886	JAWAHAR WOOD TECH PRIVATE LIMITED	Director	17/07/2007	24/08/2006	-	Active	NO
2	U20212MH2008PTC180898	JAWAHAR SAW MILLS PRIVATE LIMITED	Director	07/04/2008	07/04/2008	-	Active	NO
3	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	25/09/2009	25/09/2009	-	Active	NO
4	U70102MH2010PTC200284	NINE ALPHA AGRI-PARKS & PROPERTIES PRIVATE LIMITED	Director	20/02/2010	20/02/2010	-	Active	NO
5	U45400MH2008PTC180655	ASSOCIATE HERITAGE RESTORATION AND INFRASTRUCTURE PROJECTS PRIVATE LIMITED	Director	30/09/2010	22/02/2010	-	Active	NO
6	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	30/09/2010	22/03/2010	-	Active	NO
7	U45200MH1994PTC080135	ASSOCIATE NIWAS DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	28/05/2010	-	Active	NO
8	U70102MH2010PTC206107	VIBRANT VENTURE PRIVATE LIMITED	Director	30/07/2010	30/07/2010	-	Active	NO
9	U70100MH2010PTC208682	ORIGIN VENTURE PRIVATE LIMITED	Director	06/10/2010	06/10/2010	-	Active	NO
10	U70102MH2011PTC211952	ACUTECH REALTY & INFRA PROJECTS PRIVATE LIMITED	Director	06/01/2011	06/01/2011	-	Active	NO
11	U70102MH2011PTC211970	INTEGRATED ENCLAVE BUILDERS PRIVATE LIMITED	Director	07/01/2011	07/01/2011	-	Active	NO
12	U70109MH2011PTC211968	ACCESS NIWAS CONSTRUCTION PRIVATE LIMITED	Director	07/01/2011	07/01/2011	-	Active	NO
13	U70101MH2011PTC212070	SILVERSPARK ENCLAVE BUILDERS PRIVATE LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
14	U70102MH2011PTC213203	HIRISE TOWNSHIP AND GARDENS PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
15	U70102MH2011PTC213201	INNOVATIVE PROP AVENUES PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
16	U70102MH2011PTC213200	APEX PROPDEALS PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
17	U70102MH2011PTC213960	ABROTS INFRASTRUCTURE & PARK DEVELOPMENT PRIVATE LIMITED	Director	24/02/2011	24/02/2011	-	Active	NO
18	U74999MH2011PTC215090	PRISKA HERITAGE RESTORATION PRIVATE LIMITED	Director	22/03/2011	22/03/2011	-	Active	NO
19	U74990MH2011PTC215451	BLUESCHIST CLASSICO HERITAGE RECONSTRUCTION PRIVATE LIMITED	Director	28/03/2011	28/03/2011	-	Active	NO
20	U74999MH2011PTC215450	DITTANY HOSPITALITY PRIVATE LIMITED	Director	28/03/2011	28/03/2011	-	Active	NO
21	U74900MH2011PTC215484	JONQUILLE TOURISM PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
22	U74900MH2011PTC215481	FORNAX TOURISM PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
23	U74900MH2011PTC215477	KINAVA HERITAGE RESTORATION PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
24	U74900MH2011PTC215646	ZARK TOURISM PRIVATE LIMITED	Director	01/04/2011	01/04/2011	-	Active	NO
25	U74120MH2011PTC215728	ANTHEA TOURISM PRIVATE LIMITED	Director	05/04/2011	05/04/2011	-	Active	NO
26	U74120MH2011PTC215739	ENZIAN HERITAGE RESTORATION PRIVATE LIMITED	Director	05/04/2011	05/04/2011	-	Active	NO
27	U74120MH2011PTC215737	TANZY HOSPITALITY PRIVATE LIMITED	Director	05/04/2011	05/04/2011	-	Active	NO
28	U74900MH2011PTC216232	PERIWINKLE HOSPITALITY PRIVATE LIMITED	Director	13/04/2011	13/04/2011	-	Active	NO
29	U74900MH2011PTC216449	PYROLITE TOURISM PRIVATE LIMITED	Director	20/04/2011	20/04/2011	-	Active	NO
30	U70200MH1989PTC052479	Associate Infratech (I) Private Limited	Director	30/09/2011	30/09/2011	-	Active	NO
31	U40101MH2005PTC151501	ASSOCIATE ENERGY PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO
32	U70200MH2012PTC226484	NIYANTA REALTY PRIVATE LIMITED	Director	27/01/2012	27/01/2012	-	Active	NO
33	U70102MH2012PTC226483	NIYANTA INFRATECH PRIVATE LIMITED	Director	27/01/2012	27/01/2012	-	Active	NO
34	U74120MH2012PTC226481	NIYANTA HOSPITALITY PRIVATE LIMITED	Director	27/01/2012	27/01/2012	-	Active	NO
35	U45200MH2012PTC226784	NIYANTA ROAD TECH PRIVATE LIMITED	Director	11/02/2012	11/02/2012	-	Active	NO
36	U74120MH2012PTC231730	NIYANTA HOLDINGS PRIVATE LIMITED	Director	01/06/2012	01/06/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2011

Names of Shareholders	No. of Shares
Asfiya Oosman Darvesh J/w. Shabana Oosman Darvesh	1422
Ashoak Sunderdas Agicha J/w. Satish Sunderdas Agicha	560000
Aasiana I. Darvesh J/w. Ebrahim Suleman Darvesh	110000
Adltya Satish AgichaJ/w. Satish Sunderdas Agicha	197500
Abhishek Satish AgichaJ/w. Satish Sunderdas Agicha	197500
Amritibai Sunderdas Agicha J/w Raiesh Manohar Agicha	464000
Amritibai Sunderdas AgichaJ/w. Gaurav Manohar Agicha	464000
Amritibai Sunderdas AgichaJ/w, Sidarrtha Srichand Agicha	812000
Aesha Gautam AgichaJ/w. Gautam Prakash Agicha	375000
Associate Holdinqs Private Limited	26510000
Chandni Srichand AgichaJ/w. Srichand Satramdas Agicha	100000
Ebrahim Suleman Darvesh J/w. Mariam Ebrahim Darvesh	440000
Farooq Ali Khan	11196600
Gaurav Manohar Agicha J/w. Krishika Gaurav Agicha	11600
Gajtam Prakash AgichaJ/w. Ashoak Sunderdas Agicha	145000
GutzarAli Khan	100000
Himayat Ali Khan	100000
Hanifa Farouk Darvesh J/w. Mohammed Farouk Suleman Darvesh	230000
Minor Hriday Rajesh Agicha J/w Rajesh Manohar Agicha	10000
Hurmathunissa	100000
Krishika G. Agicha J/w. Gaurav M. Agicha	148400
Mohammed Farouk Suleman Darvesh J/w. Hanifa Farouk Darvesh	440000
Minor Mohammed Suleman Oosman Darvesh J/w. Mrs. Shabana Oosman Darvesh	185344
Manohar Satramdas AgichaJ/w. Nanda Manohar Agicha	11800
Mariam Ebrahim Darvesh J/w. Ebrahim Suleman Darvesh	340000
Mubeena	2050000
Nooruddin Khan	3253400
Nanda Manohar AgichaJ/w Manohar Satramdas Agicha	10000
Parveen Taj	50000
Raffat Adil Latif J/w. Shabana Oosman Darvesh	1421
Raiesh Manohar Agicha J/w. Sakshi Rajesh Agicha	150200
Shabana Oosman Darvesh J/w Mohammed Farouk Suleman Darvesh	1141813
Srichand Satramdas AgichaJ/w. Chandni Srichand Agicha	108000
Siddharrth Srichand Aq icha J/w. Srichand Satramdas Agicha	100000
Satish Sunderdas AgichaJ/w, Sweta Salish Agicha	115000
Sakshi Rajesh AgichaJ/w. Rajesh Manohar Agicha	10000
Sweta Satish Agicha J/w Satish Sunderdas Agicha	10000
Shabana Bequm	150000
Turab Ebrahim Darvesh J/w, Ebrahim Suleman Darvesh	440000
Vahya Farouk Darvesh J/w Mohammed Farouk Suleman Darvesh	440000
Zakaria Farouk Darvesh J/w. Mohammed Farouk Suleman Darvesh	230000
Total	51510000

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2011

Category	Percentage
Bodies corporate	51.47
Directors or relatives of Directors	48.53
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Premium Decorative Laminates and the most advanced Plain and Pre-Laminated Particleboards.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Corporation Bank, Bharat House, Groung Floor, 104 M.S. Marg, Fort, Mumbai - 400023, Maharashtra, India

· Corporation Bank

· Bank Of Baroda

· Oriental Bank of Commerce

Facilities :

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	1194.689	194.453
Hire purchase installment payable secured	0.689	1.184
Total	1195.378	195.637

Banking Relations :	--
Auditors :
Name :	B.K. Ramadhyani and Company Chartered Accountants
Address :	4-B,4^th Floor, Chitrapur Bhavan No.68, 8^th Main,15^th Cross, Malleswaram Bangalore-560055, India
PAN No.:	AABFB1153G
Related Party:	Associate Lumbers Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
52000000	Equity Shares	Rs.10/- each	Rs.520.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
51510000	Equity Shares	Rs.10/- each	Rs.515.100 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		515.100	323.255	0.515
2] Share Application Money		72.526	9.763	112.917
3] Reserves & Surplus		(0.586)	0.273	0.103
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		587.040	333.291	113.535
LOAN FUNDS
1] Secured Loans		1195.378	195.637	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		1195.378	195.637	0.000
DEFERRED TAX LIABILITIES		0.000	0.169	0.036
TOTAL		1782.418	529.097	113.571
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		280.061	215.010	1.467
Capital work-in-progress		2476.232	60.986	64.920
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.010	0.123
	Sundry Debtors	0.027	0.121	1.460
	Cash & Bank Balances	80.784	57.398	0.136
	Other Current Assets	0.000	0.000	6.320
	Loans & Advances	141.468	196.284	27.726
Total Current Assets		222.279	253.813	35.765
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1169.832	0.853	2.713
	Other Current Liabilities	28.635	2.142	1.672
	Provisions	0.454	0.323	0.108
Total Current Liabilities		1198.921	3.318	4.493
Net Current Assets		(976.642)	250.495	31.272
MISCELLANEOUS EXPENSES		2.767	2.606	15.912
TOTAL		1782.418	529.097	113.571

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	0.960	1.646	1.964
		Other Income	3.420	4.162	0.185
		TOTAL (A)	4.380	5.808	2.149
Less	EXPENSES
		Consumption materials changes inventories	0.887	1.371	1.877
		Employee related expenses	1.973	2.712
		Administrative selling other expenses	1.520	1.039
		TOTAL (B)	4.380	5.122	1.877
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.000	0.686	0.272
Less	FINANCIAL EXPENSES (D)		0.121	0.088	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.121)	0.598	0.272
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.908	0.294	0.120
	PROFIT BEFORE TAX (E-F) (G)		(1.029)	0.304	0.152
Less	TAX (I)		(0.170)	0.134	0.049
	PROFIT AFTER TAX (G-I) (J)		(0.859)	0.170	0.103
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.273	0.103	0.000
	BALANCE CARRIED TO THE B/S		(0.586)	0.273	0.103
	EARNINGS IN FOREIGN CURRENCY		0.000	4.161	0.185
	Earnings Per Share (Rs.)		(0.02)	0.01	2.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(19.61)	2.93	4.79
Net Profit Margin (PBT/Sales)	(%)	(107.19)	18.47	7.74
Return on Total Assets (PBT/Total Assets}	(%)	(0.20)	0.06	0.41
Return on Investment (ROI) (PBT/Net worth)		0.00	0.00	0.00
Debt Equity Ratio (Total Liability/Net worth)		4.08	0.60	0.04
Current Ratio (Current Asset/Current Liability)		0.19	76.50	7.96

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	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	No

CHANGE OF NAME

Under the authority of the Special Resolution passed by the members at the Extra-Ordinary General Meeting of the Company held on 9^th May 2011, the Company has adopted new name ‘Associate Décor Limited, as was made available by the Registrar of Companies, Karnataka; Bangalore and on application, the Central Government under Section 23 of the Companies Act, 1956 issued Fresh Certificate of Incorporation Consequent upon Change of Name dated 3rd August 2011.

Related Necessary compliances were duly complied with as stipulated and mandated by the extant applicable provisions of the Companies Act, 1956 for afore stated constitutional alterations.

BACKGROUND:

The Associate Decor Limited (“ the Company”) was incorporated in 2007 in the name and style of Star Panel Boards Limited for manufacturing of Particle Board – both Plain and Laminated Particle Boards. The company is setting up the plant at Malur near Bangalore and is expected to start is operations partially by end of 2011-2012 and fully in 2012 - 2013.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U20213KA2007PLC041502
Name of the company	ASSOCIATE DECOR LIMITED
Address of the registered office or of the principal place of business in India of the company	No. 400, 1^st Floor, 1^st Block, 2^nd Main Road, R.T. Nagar, Bangalore-560032, Karnataka, India Email: yfd@associategroup.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10206372
Type of charge	· Immovable property · Any interest in immovable property · Book debts · Pledge of fully paid up equity shares of Company
Particular of charge holder	Corporation Bank, Bharat House, Groung Floor, 104 M.S. Marg, Fort, Mumbai - 400023, Maharashtra, India Email: cb443@corpbank.co.in
Nature of instrument creating charge	1. Inter-se Agreement date 16.06.2012 2. Creation/Extension of Joint Equitable Mortgage date 16.06.2012 3. Third Supplemental Term Loan Agreement date 16.06.2012 5. Third Supplemental Joint Deed of Hypothecation date 16.06.2012 6. Third Supplemental Agreement for Pledge of Equity Shares date 16/06.2012 7. Power of Attorney & Declaration of undertaking date 16.06.2012 8. Deed of Guarantee by Directors and members date 16.06.2012
Date of instrument Creating the charge	16.06.2012
Amount secured by the charge	Rs. 5405.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Corporation Bank: 12.10% p.a. Bank Of Baroda: 13.50% p.a. Oriental Bank of Commerce: 12.00%p.a. Terms of Repayment Not to exceed 108 months inclusive of moratorium period of 36 months in 24 quarterly installments starting from June 2015. Margin Inland/Import DA, LC and buyers credit with a margin of 5% Extent and Operation of the charge First pari passu charge by all participating Banks of Consortium in case of Term Loan facilities
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Pari passu first charge on factory and building and pari passu first charge on P and M and other moveable assets. Personal Guarantee of directors and members of the Company. Hypothecation of moveables, book debts and current assets Pledge of 37,970,000 equity shares as precisely and more correctly agreed and written in Third Supplemental Agreement for Pledge of Equity Shares date 16.06.2012
Date of instrument modifying the charge	12.10.2011
Particulars of the present modification	Enhancing the credit limit of and thereby revised Term Loan cum Inland/Import/Stand by LC to the tune of Rs.4055.000 Millions from the existing of Rs.3585.000 Millions and granting the working capital credit facilities (Import/Inland/CC, EPC,PC, PCFC, FBP, PSEFC) aggregating to Rs.1350.000 Millions for enhancement in the production capacities from 850 CuM/day to 1100 CuM/day at Malur Industrial Area, Phase IV Kolar District, Karnataka State, India. Thus making credit limits aggregating to Rs. 5405.000 Millions

FIXED ASSETS:

· Furniture and Fixtures

· Office Equipments

· Computers

· Air Conditioners

· Electrical Fittings

· Vehicles

· Land

· Land Leveling

· Building and Civil

· Plant and Machinery

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.53.67
UK Pound	1	Rs.86.05
Euro	1	Rs.70.07

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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		29

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.