MIRA INFORM REPORT

Report Date :

07.08.2013

IDENTIFICATION DETAILS

Name :	FUTURE VALUE RETAIL LIMTED (w.e.f. 16.11.2009)
Formerly Known As :	PANTALOON FUTURE VENTURES LIMITED
Registered Office :	Knowledge House, Shyam Nagar, Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai-400060, Maharashtra
Country :	India
Financials (as on) :	31.12.2012
Com. Reg. No.:	11-171524
Capital Investment / Paid-up Capital :	Rs. 664.500 millions
CIN No.: [Company Identification No.]	U52100MH2007PLC171524
TAN No.: [Tax Deduction & Collection Account No.]	MUMF05801F
PAN No.: [Permanent Account No.]	AAECP3041P
Legal Form :	A Closely Held Pubic Limited Liability Company
Line of Business :	Retail Chain Business of Food and Other Items.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (55)

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

Maximum Credit Limit :	USD 49000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of Pantaloon Retail (India) Limited. It is an established company having fine track record. The latest financial are filed for 18 months (July 2011 – December 2012). The profit margin has dipped. However, the financial position of the company appears to be sound. Trade relations are reported as decent. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term Bank Facilities: A
Rating Explanation	Adequate Degree of safety and low credit risk.
Date	21^st June 2013

Rating Agency Name	CARE
Rating	Short term Bank Facilities: A1
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	21^st June 2013

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 / Zonal Office 1 :	Knowledge House, Shyam Nagar, Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai-400060, Maharashtra, India
Tel. No.:	91-22-30841300 / 67840400
Fax No.:	91-22-66442222 / 67840400
E-Mail :	roc.info@pantaloon.com roc.info@futuregroup.in atul.takle@pantaloon.com laxmikant.somani@futuregroup.in support@futurebazaar.com gupta.rahul@futuregroup.com
Website :	http://www.pantaloon.com http://www.futuregroup.in
Head Office :	Future Retail Home Office, 247, Park Tower C, 9^th Floor, LBS Marg, Vikhroli (West), Mumbai-400079, Maharashtra, India
Tel No.:	91-22-6119000
Zonal Office 2 :	Plot No.82, Sector-32, Gurgaon, Haryana, India
Tel No.:	91-124-44641000
E-mail:	Info@fvrl.in
Website:	www.fvrl.in
Branch Offices :	Located At: Mumbai Chennai Kolkata Bangalore Pune Hyderabad Ahmedabad

DIRECTORS

As on 21.03.2013

Name :

Mr. Chandra Prakash Toshniwal

Designation :

Director

Address :

Kanishka, Great Eastern Link, Ram Mandir Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India

Date of Birth/Age :

20.09.1966

Qualification:

Chartered Accountant and Company Secretary

Date of Appointment :

11.06.2007

DIN No.:

00036303

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	U72100MH1999PLC120600	PRTL ENTERPRISES LIMITED	Director	22/08/2000	22/08/2000	02/08/2008	Active	NO
2	U55101MH2005PLC151089	PAN INDIA RESTAURANTS LIMITED	Director	07/02/2005	07/02/2005	-	Amalgamated	NO
3	U74995MH2005PLC151073	IDIOM DESIGN AND CONSULTING LIMITED	Director	07/02/2005	07/02/2005	30/03/2008	Active	NO
4	U70100MH2005PTC153677	ANCHOR RESIDENCY PRIVATE LIMITED	Director	01/06/2005	01/06/2005	-	Active	NO
5	U70101MH2005PTC153688	NAMAN MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	02/06/2005	02/06/2005	01/09/2010	Active	NO
6	U45200GJ2005PTC046351	GULMOHAR PARK MALL PRIVATE LIMITED	Director	11/07/2005	11/07/2005	01/09/2010	Active	NO
7	U70100MH2005PTC155102	SRISHTI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	03/08/2005	03/08/2005	27/02/2012	Active	NO
8	U70100MH2005PTC155104	UNIQUE MALLS PRIVATE LIMITED	Director	03/08/2005	03/08/2005	27/06/2012	Active	NO
9	U70100MH2005PTC155196	BLB MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	08/08/2005	08/08/2005	15/04/2009	Active	NO
10	U45200MH2005PTC156837	SUHANI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	18/10/2005	18/10/2005	18/02/2013	Active	NO
11	U45200MH2005PTC156839	AVRUTI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	18/10/2005	18/10/2005	01/09/2010	Active	NO
12	U70100MH2005PTC156868	ANUSHTA MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	19/10/2005	19/10/2005	01/09/2010	Active	NO
13	U70100MH2005PTC156886	SHAGUN MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	20/10/2005	20/10/2005	14/06/2007	Active	NO
14	U70100MH2005PTC156869	BANSI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	19/11/2005	19/11/2005	27/02/2012	Active	NO
15	U51909MH1994PTC156437	MANZ RETAIL PRIVATE LIMITED (TRF.)	Director	27/12/2005	27/12/2005	27/02/2012	Active	NO
16	U51900MH2006PLC159197	FUTUREBAZAAR INDIA LIMITED	Director	23/01/2006	23/01/2006	27/02/2008	Active	NO
17	U65900MH2006PLC159526	FUTURE IDEAS COMPANY LIMITED	Director	06/02/2006	06/02/2006	27/02/2008	Active	NO
18	U52110MH2006PLC159581	FUTURE AXIOM TELECOM LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO
19	U15100MH2005PLC152599	FUTURE AGROVET LIMITED	Director	29/09/2006	10/02/2006	-	Active	NO
20	U52190MH2006PLC160377	GJ FREEDOM FASHIONS LIMITED	Director	08/03/2006	08/03/2006	30/01/2008	Active	NO
21	U74300MH2006PLC160375	FUTURE MEDIA (INDIA) LIMITED	Director	18/09/2008	08/03/2006	-	Active	NO
22	U63030MH2006PLC160376	FUTURE SUPPLY CHAIN SOLUTIONS LIMITED	Director	08/03/2006	08/03/2006	-	Active	NO
23	U52190MH2006PLC160415	MYRA MALL MANAGEMENT COMPANY LIMITED	Director	16/03/2006	16/03/2006	03/07/2007	Active	NO
24	U51909MH2005PTC151869	SPRINT ADVISORY SERVICES PRIVATE LIMITED	Director	31/08/2006	21/03/2006	-	Active	NO
25	U55209MH2006PTC161530	PAN INDIA FOOD SOLUTIONS PRIVATE LIMITED	Director	01/05/2006	01/05/2006	18/06/2009	Active	NO
26	U45200MH2005PTC157267	SHENDRA ADVISORY SERVICES PRIVATE LIMITED	Director	29/09/2006	19/05/2006	-	Active	NO
27	U18101MH2006PLC223534	LEE COOPER (INDIA) LIMITED	Director	29/08/2006	29/08/2006	30/12/2008	Amalgamated	NO
28	U45200GJ2006PTC048776	RATNABHUMI DEVELOPERS PRIVATE LIMITED	Director	25/09/2006	25/09/2006	24/04/2009	Active	NO
29	U70109WB1998PTC087521	SUN CITY PROPERTIES PRIVATE LIMITED	Director	03/10/2006	03/10/2006	-	Active	NO
30	U66030MH2006PLC165287	FUTURE GENERALI INDIA INSURANCE COMPANY LIMITED	Director	30/10/2006	30/10/2006	16/03/2007	Active	NO
31	U66010MH2006PLC165288	FUTURE GENERALI INDIA LIFE INSURANCE COMPANY LIMITED	Director	30/10/2006	30/10/2006	16/03/2007	Active	NO
32	U93090MH2006PTC165612	AIRPORT RETAIL PRIVATE LIMITED	Director	17/11/2006	17/11/2006	17/11/2008	Active	NO
33	U74999MH2006PLC165722	FUTURE BRANDS LIMITED	Director	22/11/2006	22/11/2006	-	Active	NO
34	U74999MH2007PTC166866	STAPLES FUTURE OFFICE PRODUCTS PRIVATE LIMITED	Director	09/01/2007	09/01/2007	05/11/2008	Active	NO
35	U74999MH2007PLC167122	FUTURE KNOWLEDGE SERVICES LIMITED	Director	18/01/2007	18/01/2007	-	Active	NO
36	U51909MH2006PTC164092	EDMON TRADING PRIVATE LIMITED	Director	23/01/2007	23/01/2007	01/10/2009	Active	NO
37	U52399MH2007PLC171178	FUTURE E-COMMERCE INFRASTRUCTURE LIMITED	Director	25/05/2007	25/05/2007	-	Active	NO
38	U52100MH2007PLC171524	FUTURE VALUE RETAIL LIMITED.	Director	11/06/2007	11/06/2007	-	Active	NO
39	U51900MH2007PLC171946	FUTURE MOBILE AND ACCESSORIES LIMITED	Director	23/06/2007	23/06/2007	27/02/2008	Active	NO
40	U70102MH2006PTC161886	SHREYA MALL MANAGEMENT PRIVATE LIMITED	Director	31/10/2007	05/07/2007	-	Active	NO
41	U74999MH2007PLC173727	MOBILE REPAIR SERVICE CITY INDIA LIMITED	Director	01/09/2007	01/09/2007	30/03/2008	Active	NO
42	U51900MH2007PLC174027	FUTURE CONSUMER PRODUCTS LIMITED	Director	11/09/2007	11/09/2007	-	Active	NO
43	U17291MH2007GOI195397	APOLLO DESIGN APPAREL PARKS LIMITED	Director	22/12/2008	22/12/2007	-	Active	NO
44	U51909MH2006PTC164209	CENTRAL DEPARTMENTAL STORES PRIVATE LIMITED	Director	31/01/2008	31/01/2008	-	Active	NO
45	U52100MH2008PLC179919	FUTURE FOOD AND PRODUCTS LIMITED	Director	10/03/2008	10/03/2008	09/01/2009	Active	NO
46	L45400MH2008PLC179914	FUTURE MARKET NETWORKS LIMITED	Director	10/03/2008	10/03/2008	09/01/2009	Active	NO
47	U45201MH2008PLC179913	AGRE PROPERTIES AND SERVICES LIMITED	Director	10/03/2008	10/03/2008	09/01/2009	Amalgamated	NO
48	U74999MH2008PLC181051	FUTURE LEARNING AND DEVELOPMENT LIMITED	Director	10/04/2008	10/04/2008	-	Active	NO
49	U22300MH2008PLC181041	FUTURE OUTDOOR MEDIA SOLUTIONS LIMITED	Director	10/04/2008	10/04/2008	22/03/2013	Active	NO
50	U93000MH2008PTC179580	HARSH TRADING AND INVESTMENT CONSULTANTS PRIVATE LIMITED	Director	11/04/2008	11/04/2008	04/08/2011	Active	NO
51	U55100MH2000PTC128686	BLUE FOODS PRIVATE LIMITED	Additional director	21/04/2008	21/04/2008	22/04/2008	Active	NO
52	U51109WB2006PTC109359	KAMASKHYA TRACOM PRIVATE LIMITED	Nominee director	07/07/2008	07/07/2008	16/09/2010	Active	NO
53	U51100MH2005PLC156856	FUTURE CORPORATE RESOURCES LIMITED	Director	09/08/2011	08/08/2011	-	Active	NO
54	U45400WB2012PTC173445	CIRCULAR DEVELOPERS PRIVATE LIMITED	Director	24/02/2012	24/02/2012	09/03/2012	Active	NO
55	U74999MH2010PLC203778	NUFUTURE HARIBHAKTI BUSINESS SERVICES LIMITED.	Director	29/09/2012	03/08/2012	-	Active	NO
56	U52100MH2012PLC231654	FUTURE LIFESTYLE FASHIONS LIMITED	Director	09/05/2013	02/03/2013	-	Active	NO
57	U74900MH2007PLC167121	FUTURE HUMAN DEVELOPMENT LIMITED	Additional director	25/03/2013	25/03/2013	-	Active	NO
58	AAA-4360	SSA ADVISORS LLP	Designated Partner	04/04/2011	04/04/2011	-	Active	NO

Name :

Mr. Vivek Biyani

Designation :

Director

Address :

304, Jeevan Vihar, Manav Mandir Road, Malabar Hill, Mumbai-400006, Maharashtra, India

Qualification:

Graduation in Business Administration

Date of Appointment :

23.09.2011

DIN No.:

01977838

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	U52330MH2004PLC148956	HOME SOLUTIONS RETAIL (INDIA) LIMITED	Director	01/09/2010	28/01/2008	10/06/2011	Active	NO
2	U70102MH2006PTC161884	RIDDHI SIDDHI MALL MANAGEMENT PRIVATE LIMITED	Director	30/09/2008	31/01/2008	04/06/2012	Active	NO
3	U70102MH2006PTC161883	ISHBHOOMI MALL MANAGEMENT PRIVATE LIMITED	Director	30/09/2008	31/01/2008	25/05/2011	Active	NO
4	U45200MH2007PTC168069	FESTIVE REALTY PRIVATE LIMITED	Director	21/08/2008	31/01/2008	21/09/2012	Active	NO
5	U74999MH2007PTC167999	AMAN SYNTEX PRIVATE LIMITED	Director	19/08/2008	31/01/2008	27/02/2010	Active	NO
6	U93090MH2007PTC168048	HOLII ACCESSORIES PRIVATE LIMITED	Director	21/08/2008	31/01/2008	30/04/2009	Active	NO
7	U45200MH2007PTC168052	VAYUPUTRA REALTY PRIVATE LIMITED	Director	31/01/2008	31/01/2008	01/02/2008	Active	NO
8	U70200MH2007PTC168047	MAHABAL REALTY PRIVATE LIMITED	Director	23/09/2011	31/01/2008	-	Active	NO
9	U70200MH2007PTC170246	VISHNU MALL MANAGEMENT PRIVATE LIMITED	Director	23/10/2008	31/01/2008	-	Active	NO
10	U70102MH2006PTC161885	HARMONY MALLS MANAGEMENT PRIVATE LIMITED	Director	30/09/2008	31/01/2008	-	Active	NO
11	U74999MH2007PLC167122	FUTURE KNOWLEDGE SERVICES LIMITED	Director	30/09/2008	31/01/2008	-	Active	NO
12	U51900MH2007PLC174027	FUTURE CONSUMER PRODUCTS LIMITED	Director	10/09/2008	31/01/2008	-	Active	NO
13	U45200MH2007PTC168000	KUBER MALL MANAGEMENT PRIVATE LIMITED	Director	19/08/2008	31/01/2008	-	Active	NO
14	U70102MH2007PTC167996	KESARI REALTY PRIVATE LIMITED	Director	19/08/2008	31/01/2008	-	Active	NO
15	U70100MH2005PTC156869	BANSI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	30/09/2008	01/03/2008	01/07/2009	Active	NO
16	U70100MH2005PTC155104	UNIQUE MALLS PRIVATE LIMITED	Director	30/09/2008	15/03/2008	27/06/2012	Active	NO
17	U70100MH2005PTC153677	ANCHOR RESIDENCY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	-	Active	NO
18	U45200MH2004PLC146312	KB MALL MANAGEMENT COMPANY LIMITED	Director	30/09/2008	15/03/2008	-	Amalgamated	NO
19	U70100MH2004PTC148032	BARTRAYA MALL DEVELOPMENT COMPANY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	-	Active	NO
20	U70100MH2004PTC148033	NISHTA MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	30/08/2012	Active	NO
21	U70100MH2005PTC151972	ACUTE REALTY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	03/07/2012	Active	NO
22	U70102MH2006PTC161887	OJAS MALL MANAGEMENT PRIVATE LIMITED	Director	30/09/2008	31/03/2008	30/08/2012	Active	NO
23	U17100MH2004PTC143809	DHANSHREE FASHIONS PRIVATE LIMITED	Director	30/09/2010	21/05/2008	-	Active	NO
24	U74900MH2008PLC179447	FUTURE COUPONS LIMITED	Director	20/08/2009	26/05/2008	-	Active	NO
25	U63030MH2006PLC160376	FUTURE SUPPLY CHAIN SOLUTIONS LIMITED	Director	29/09/2008	01/06/2008	-	Active	NO
26	U52100MH2007PTC167268	PAIRS RETAIL INDIA PRIVATE LIMITED	Director	26/07/2008	25/06/2008	04/01/2010	Active	NO
27	U52599MH2007PLC166906	ASIAN RETAIL LIGHTING LIMITED	Director	26/07/2008	25/06/2008	-	Active	NO
28	U51109WB2006PTC109359	KAMASKHYA TRACOM PRIVATE LIMITED	Nominee director	07/07/2008	07/07/2008	16/09/2010	Active	NO
29	U52399MH2007PLC171178	FUTURE E-COMMERCE INFRASTRUCTURE LIMITED	Director	26/09/2011	20/10/2010	-	Active	NO
30	U52100MH2007PLC171524	FUTURE VALUE RETAIL LIMITED.	Director	23/09/2011	06/01/2011	-	Active	NO
31	U74900MH1996PLC097943	FUTURE CORPORATE RESOURCES LIMITED	Whole-time director	10/02/2011	10/02/2011	-	Amalgamated	NO
32	U51100MH2005PLC156856	FUTURE CORPORATE RESOURCES LIMITED	Whole-time director	09/08/2011	21/07/2011	-	Active	NO
33	U55101MH2007PTC172953	FUTURE HOSPITALITY PRIVATE LIMITED	Director	29/09/2011	29/09/2011	-	Active	NO
34	U70100MH2005PTC156874	UTSAV MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	13/03/2012	13/03/2012	-	Active	NO
35	U72900MH2007PLC174787	NUFUTURE DIGITAL (INDIA) LIMITED	Director	29/09/2012	27/03/2012	-	Active	NO
36	U74999MH2011PTC222911	NIMBI JODHA CORPORATE SERVICES PRIVATE LIMITED	Additional director	10/06/2013	10/06/2013	-	Active	NO

Name :

Mr. Rakesh Biyani

Designation :

Director

Address :

304, Jeevan Vihar, Manav Mandir Road, Malabar Hill, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

05.04.1972

Qualification:

MBA

Date of Appointment :

21.03.2013

DIN No.:

00005806

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	L52399MH1987PLC044954	FUTURE RETAIL LIMITED	Managing director	10/11/2011	27/07/1992	-	Active	NO
2	U51311RJ2002PTC017552	SUPREME TRADELINKS PRIVATE LIMITED	Director	03/03/2005	03/03/2005	31/03/2009	Active	NO
3	U70100MH2005PTC151972	ACUTE REALTY PRIVATE LIMITED	Director	15/03/2005	15/03/2005	18/06/2012	Active	NO
4	U52190MH2006PLC160377	GJ FREEDOM FASHIONS LIMITED	Director	08/03/2006	08/03/2006	30/01/2008	Active	NO
5	U74999MH2007PTC166866	STAPLES FUTURE OFFICE PRODUCTS PRIVATE LIMITED	Director	09/01/2007	09/01/2007	01/08/2007	Active	NO
6	U63030MH2006PLC160376	FUTURE SUPPLY CHAIN SOLUTIONS LIMITED	Director	30/11/2007	13/07/2007	-	Active	NO
7	U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	Director	22/12/2008	22/12/2007	-	Active	NO
8	U74999MH2007PLC167122	FUTURE KNOWLEDGE SERVICES LIMITED	Director	30/09/2008	31/01/2008	-	Active	NO
9	U85110MH1998PLC226134	INDUS-LEAGUE CLOTHING LIMITED	Director	04/09/2008	23/04/2008	-	Active	NO
10	U74994MH2008PLC181891	CELIO FUTURE FASHION LIMITED	Director	05/05/2008	05/05/2008	-	Active	NO
11	U52110MH2006PLC159581	FUTURE AXIOM TELECOM LIMITED	Director	30/09/2008	15/05/2008	-	Active	NO
12	U17219WB1992PLC056339	TURTLE LIMITED	Director	05/08/2009	01/12/2008	-	Active	NO
13	U51900MH2006PLC159197	FUTUREBAZAAR INDIA LIMITED	Director	30/09/2010	21/10/2009	-	Active	NO
14	U52399MH2007PLC171178	FUTURE E-COMMERCE INFRASTRUCTURE LIMITED	Director	30/09/2010	24/12/2009	20/10/2010	Active	NO
15	U51109MH2010PTC207312	SAACHI MULTITRADING PRIVATE LIMITED	Director	22/08/2011	14/09/2010	-	Converted to LLP and dissolved	NO
16	U45400MH2010PTC207216	UCCHAL INFRASTRUCTURE PRIVATE LIMITED	Director	22/08/2011	14/09/2010	-	Active	NO
17	U51109MH2010PTC207247	RADHA MULTITRADING PRIVATE LIMITED	Director	22/08/2011	14/09/2010	-	Converted to LLP and dissolved	NO
18	U19200DL2010PLC206824	CLARKS FUTURE FOOTWEAR LIMITED	Director	05/08/2011	29/09/2010	-	Active	NO
19	U93000MH2011PTC218630	MANCHESTER SPORTS ACADEMY PRIVATE LIMITED	Director	14/06/2011	14/06/2011	-	Active	NO
20	U85191MH2011NPL222989	RETAILERS ASSOCIATION'S SKILL COUNCIL OF INDIA	Director	13/10/2011	13/10/2011	-	Active	NO
21	U52100MH2007PLC171524	FUTURE VALUE RETAIL LIMITED.	Director	21/03/2013	10/02/2012	-	Active	NO
22	U72900MH2007PLC174787	NUFUTURE DIGITAL (INDIA) LIMITED	Director	29/09/2012	27/03/2012	-	Active	NO
23	U93090MH2012PTC234400	PLUGGERS SPORTS LIFESTYLE PRIVATE LIMITED	Director	13/08/2012	13/08/2012	01/02/2013	Active	NO
24	U70102MH2007PTC173944	PARVAT VIEW PROPERTIES PRIVATE LIMITED	Additional director	15/03/2013	15/03/2013	-	Active	NO
25	U70102MH2007PTC173373	UMBER PROPERTIES PRIVATE LIMITED	Additional director	15/03/2013	15/03/2013	-	Active	NO
26	U52100MH2012PLC231654	FUTURE LIFESTYLE FASHIONS LIMITED	Additional director	10/06/2013	10/06/2013	-	Active	NO
27	AAA-6346	SAACHI MULTITRADING LLP	Designated Partner	23/09/2011	23/09/2011	-	Active	NO
28	AAA-6387	RADHA MULTITRADING LLP	Designated Partner	27/09/2011	27/09/2011	-	Active	NO
29	AAA-6891	BIYANI CAPITAL RESOURCES LLP	Designated Partner	15/11/2011	15/11/2011	-	Active	NO
30	AAA-6892	GSR CAPITAL RESOURCES LLP	Designated Partner	15/11/2011	15/11/2011	-	Active	NO

Name :

Mr. Vijay Kumar Chopra

Designation :

Nominee Director

Address :

Flat No. 4A, 4^th Floor, Harmony Tower, Dr. R. Moses Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/Age :

06.03.1946

Qualification:

B.com, FCA

Date of Appointment :

21.03.2013

DIN No.:

02103940

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	L74210HR1984PLC032293	RASANDIK ENGINEERING INDUSTRIES INDIA LIMITED	Director	12/09/2008	18/03/2008	27/08/2009	Active	NO
2	U51909DL2004PLC126962	SVIL MINES LIMITED	Additional director	10/04/2008	10/04/2008	06/08/2008	Active	NO
3	L74999MH1989PLC052384	ROLTA INDIA LIMITED	Director	24/11/2008	17/04/2008	-	Active	NO
4	U67190MH1999PLC119009	CENTRUMDIRECT LIMITED	Director	29/12/2008	06/05/2008	03/05/2011	Active	NO
5	L36900MH1988PLC049085	SUASHISH DIAMONDS LIMITED	Director	27/09/2008	09/05/2008	26/02/2009	Active	NO
6	L65910MH1984PLC032639	DEWAN HOUSING FINANCE CORPORATION LIMITED	Director	28/07/2008	12/05/2008	-	Active	NO
7	L13100DL1976PLC188942	LANDMARK PROPERTY DEVELOPMENT COMPANY LIMITED	Director	22/09/2008	03/06/2008	11/08/2010	Active	NO
8	U24209HR1991PLC048501	AVANTOR PERFORMANCE MATERIALS INDIA LIMITED	Director	29/09/2008	30/06/2008	28/02/2011	Active	NO
9	U63032MH1995PLC086014	ORIX AUTO INFRASTRUCTURE SERVICES LIMITED	Director	18/06/2009	18/07/2008	21/04/2010	Active	NO
10	L99999GJ1985PLC011553	JAYBHARAT TEXTILES AND REAL ESTATE LIMITED	Director	09/08/2008	24/07/2008	13/03/2010	Active	NO
11	L52399MH1987PLC044954	FUTURE RETAIL LIMITED	Director	10/11/2008	24/07/2008	-	Active	NO
12	U55204DL2007PLC170126	PARSVNATH HOTELS LIMITED	Director	28/08/2008	29/07/2008	08/12/2008	Active	NO
13	U65999MH2004PTC144113	PEGASUS ASSETS RECONSTRUCTION PRIVATE LIMITED	Additional director	11/08/2008	11/08/2008	-	Active	NO
14	U66010KA2001PLC028883	PNB METLIFE INDIA INSURANCE COMPANY LIMITED	Director	14/08/2008	14/08/2008	-	Active	NO
15	U67190MH1999PLC120866	SIDBI VENTURE CAPITAL LIMITED	Director	08/07/2009	11/09/2008	-	Active	NO
16	U74999MH2008PTC178871	AEGON MANAGEMENT CONSULTANTS INDIA PRIVATE LIMITED	Director	26/09/2008	26/09/2008	24/11/2008	Amalgamated	NO
17	U65933MH1991PLC192261	ULTIMATE INVESTOFIN LIMITED	Director	03/08/2009	01/12/2008	06/08/2011	Active	NO
18	U67190MH2005PTC153471	RELIGARE INVESCO ASSET MANAGEMENT COMPANY PRIVATE LIMITED	Director	24/09/2009	04/12/2008	-	Active	NO
19	L31900DL1983PLC016304	HAVELLS INDIA LIMITED	Director	25/08/2009	30/01/2009	-	Active	NO
20	U66020MH2009PLC191340	RELIANCE CAPITAL PENSION FUND LIMITED	Director	17/05/2010	24/04/2009	-	Active	NO
21	U67190MH2005PLC153819	MILESTONE CAPITAL ADVISORS LIMITED	Director	25/09/2009	30/06/2009	-	Active	NO
22	L14106UP1995PLC019017	JAIPRAKASH ASSOCIATES LIMITED	Director	21/09/2010	01/09/2009	-	Active	NO
23	U93000MH2009PTC191700	CAPSTONE CAPITAL SERVICES PRIVATE LIMITED	Director	08/05/2010	02/02/2010	23/02/2011	Active	NO
24	U52599MH2007PLC167292	FUTURE CAPITAL FINANCIAL SERVICES LIMITED	Additional director	03/05/2010	03/05/2010	-	Amalgamated	NO
25	L99999MH1982PLC027797	RESPONSIVE INDUSTRIES LIMITED	Director	20/06/2011	09/11/2010	-	Active	NO
26	U65923MH2010PTC208754	MILESTONE HOME FINANCE COMPANY PRIVATE LIMITED	Director	30/12/2011	25/01/2011	-	Active	NO
27	U74899DL1995PLC104560	FIRST BLUE HOME FINANCE LIMITED	Director	29/06/2011	25/03/2011	-	Amalgamated	NO
28	U67120MH2004PLC147365	INDIA INFOLINE FINANCE LIMITED	Director	28/06/2013	27/06/2012	-	Active	NO
29	L65990MH1984PLC032422	SPANCO LIMITED	Director	25/09/2012	01/07/2012	12/10/2012	Active	NO
30	U52100MH2007PLC171524	FUTURE VALUE RETAIL LIMITED.	Nominee director	21/03/2013	09/11/2012	-	Active	NO
31	L74899DL1987PLC026607	BHARTIYA INTERNATIONAL LIMITED	Additional director	31/12/2012	31/12/2012	-	Active	NO
32	U70101WB1995PTC073339	BANDHAN FINANCIAL SERVICES PRIVATE LIMITED	Director	15/06/2013	02/03/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Kuldeep R Sharma
Designation :	Secretary
Address :	601/A, Shiv Parvati, Chincholi Bunder Road, Malad(West), Mumbai – 400064, Maharashtra, India
Date of Appointment :	15.11.2010
PAN No.:	AAFPS9218R
AUDIT COMMITTEE:
Name :	Mr. C P Toshniwal
Designation :	Chairman
Name :	Mr. Vivek Biyani
Designation :	Member (w.e.f. 25 February 2013)
Name :	Mr. Damodar Mall
Designation :	Member (w.e.f. 13 May 2011 upto 25 February 2013)
Name :	Mr. Raghu Pillai
Designation :	Member (w.e.f. 6 January 2011 upto 10 April 2011)
Name :	Mr. Shailesh Haribhakti
Designation :	Member (w.e.f. 10 February 2012 upto 18 May 2012)

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 21.03.2013

Names of Shareholders	No. of Shares
Pantaloon Retail (India) Limited, India	66499906
Pantaloon Retail (India) Limited, India Jointly with Mr. Rajesh Kalyani	1
Pantaloon Retail (India) Limited, India Jointly with Mr. Chandra Prakash Toshniwal	1
Pantaloon Retail (India) Limited, India Jointly with Mr. Sanjay Rathi	1
Pantaloon Retail (India) Limited, India Jointly with Mr. Dinesh Maheshwari	1
Pantaloon Retail (India) Limited, India Jointly with Mr. Vimal Dhurve	1
Pantaloon Retail (India) Limited, India Jointly with Mr. Milind Budhakar	1
Total	66499912

Equity Share Break up (Percentage of Total Equity)

As on 21.03.2013

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Retail Chain Business of Food and Other Items.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• ICICI Bank Limited, Land Mark Race Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India
• Bank of India, Large Corporate Branch, 70/80, M G Road, 4^th Floor, Fort, Mumbai 400001, Maharashtra, India
• Axis Bank, 2^nd Floor E Wing, Axis House, Bombay Dying Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai 400025, Maharashtra, India
• HDFC Bank

Facilities :

Secured Loan	31.12.2012 (18 Months) (Rs. in Millions)	30.06.2011 (12 Months) (Rs. in Millions)
Long-term Borrowings
Non-convertible debentures others	5000.000	5000.000
Rupee term loans from banks	11645.900	7276.300
Short-term borrowings
Term loans from banks	4499.200	0.000
Working capital loans from banks	6690.000	3882.300
Total	27835.100	16158.600
Note: a) Non-convertible debentures: -NCDs of Rs.5000.000 Millions (2011: Rs.3757.200 Millions) are secured by First Pari-Passu Charge on Fixed Assets (excluding specific fixed assets charged in favour of exclusive charge lenders), carries coupon of 11.50% per annum and are redeemable at par in two equal installments of Rs.2500.000 Millions each in the year 2015 and 2016. b) Term Loan from Banks: 1) Security i) Term Loans of Rs.2777.300 Millions (2011: Rs. 3757.200 Millions) are secured by (a) First Pari-Passu Charge on Fixed Assets (excluding specific fixed assets charged in favour of exclusive charge lenders) (b) First Pari-Passu Charge on Credit/Debit Card Receivables of all the stores (c) Second Pari-Passu Charge on Current Assets. ii) Term Loans of Rs. 3093.500 (2011: Nil) are secured by (a) First Pari-Passu Charge on Fixed Assets (b) First Pari Passu charge on escrowed Credit and Debit card receivables of specific Big Bazaar stores iii) Term Loans of Rs.999.400 Millions (2011:Rs.817.500 Millions) are secured by (a) First Pari-Passu Charge on Fixed Assets (excluding specific fixed assets charged in favour of exclusive charge lenders) (b) Second Pari-Passu Charge on Current Assets excluding Deposits. iv) Term Loans of Rs.1673.500 Millions (2011: Nil) are secured by (a) Residual charge on Fixed Assets and Current Assets (b) First Pari-Passu Charge on escrowed Credit and Debit card receivables of specific Big Bazaar stores. v) Term Loans of Rs.3335.800 Millions (2011: Rs. 2694.700 Millions) are secured by First Pari-Passu Charge on Fixed Assets (excluding specific fixed assets charged in favour of exclusive charge lender) vi) Term Loans of Rs.369.200 Millions (2011: Nil) are secured by Pari-Passu First charge on movable fixed assets (present and future) of the stores (excluding specific fixed assets charged in favour of exclusive charge lenders) vii) Term Loans of Rs.999.800 Millions (2011: Nil) are secured by Residual charge on Fixed Assets and Current Assets (viii) Term Loans of Rs.655.400 Millions (2011:rs.655.500 Millions) are secured by Third Pari-Passu Charge on Fixed and Current Assets (ix) Term Loam of Rs. Nil (2011:R. 137.900 Millions) are secured by exclusive charge on specific fixed assets. 2) Effective rate of interest of the above Long Term loan from Banks varies from 9.50% to 14.21% per annum 3) The above stated term loans are repayable as: Rs.2258.100 Millions (2013), Rs.2654.400 Millions (2014), Rs. 3161.000 Millions (2015), Rs.2111.400 Millions (2016), Rs.2644.900 Millions (2017) and Rs.1074.200 Millions (2018) 4) Term Loans of 6422.300 Millions are secured by personal guarantee of promoter directors of holding company. 2) SECURED SHORT TERM LOANS FROM BANKS a) Term Loan from Banks 1) Security i) Term Loans of Rs.1750.000 Millions (2011: Nil) are secured by Residual Charge on fixed assets and current assets. ii) Term Loans of Rs.1499.600 Millions (2011: Nil) are secured by Subservient Charge on current assets. iii) Term Loans of Rs.500.000 Millions (2011: Nil) are secured by Subservient Charge on fixed assets and current assets iv) Term Loans of Rs.749.600 Millions (2011: Nil) are secured by a) Subservient charge on Fixed Assets and Current Assets b) Mortgage of immovable property, corporate guarantee and pledge of certain investments held by associate company. 2) The average rate of interest of Short Term loan from Banks varies from 13.50% to 12.50% 3) Term Loans of Rs.3999.200 Millions are secured by personal guarantee of promoter directors of Pantaloon Retail (India) Limited. b) Working Capital Loan from Banks 1) Working Capital Loans of Rs.6689.900 Millions (2011: 3882.300 Millions) are secured by (A) First Pari-Passu Charge on entire Current Assets excluding credit/debit card receivables (B) Second Pari Passu-Charge on Credit / Debit Card Receivables of all the Stores(C) Second Pari-Passu Charge on the fixed Assets. * The inter-corporate deposits carries an interest rate of 10.50% per annum.

Banking Relations :	--
Auditors :
Name :	NGS and Company Chartered Accountants
Address :	B-46, 3^rd Floor, Pravasi Industrial Estate, Vishweshwar Nagar Road, GOregaon (West), Mumbai-400063, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AABFS3313D
Holding Company:	· Pantaloon Retail (India) Limited · Future Retail Limited, India CIN: L52399MH1987PLC044954
Subsidiary Company:	· Future Freshfoods Limited, India CIN: U01403MH2010PLC201760
Fellow Subsidiaries:	· Future Media (India) Limited, India CIN: U74300MH2006PLC160375 · Future Agrovet Limited, India CIN: U15100MH2005PLC152599 · Future Supply Chain Solutions Limited, India CIN: U63030MH2006PLC160376 · FSC Brand Distribution Services Limited, India CIN: U51109MH2008PLC189032 · Future E-Commerce Infrastructure Limited, India CIN: U52399MH2007PLC171178 · Future Lifestyle Fashions Limited, India (formerly known as Future Value Fashion Retail Limited) (w.e.f. 31 May 2012) CIN: U52100MH2012PLC231654 · Splendor Fitness Private Limited, India (till 29 June 2012) CIN: U93020MH2006PTC166332 · Capital First Limited, India (Formerly known as Future Capital Holdings Limited) (till September 27, 2012) CIN: L29120MH2005PLC156795
Associates:	· Galaxy Entertainment Corporation Limited, India CIN: L51900MH1981PLC024988

CAPITAL STRUCTURE

As on 31.12.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000,000	Equity Shares	Rs. 10 each	Rs. 1000.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
66,499,912	Equity Shares	Rs. 10 each	Rs. 665.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.12.2012 (18 Months)	30.06.2011 (12 Months)
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	665.000	665.000
(b) Reserves & Surplus	11648.900	10748.600
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	12313.900	11413.600
(3) Non-Current Liabilities
(a) long-term borrowings	23495.900	21303.000
(b) Deferred tax liabilities (Net)	1241.200	780.000
(c) Other long term liabilities	2550.000	0.000
(d) long-term provisions	52.600	71.000
Total Non-current Liabilities (3)	27339.700	22154.000
(4) Current Liabilities
(a) Short term borrowings	11334.200	3882.300
(b) Trade payables	8977.500	8216.700
(c) Other current liabilities	3852.900	2792.000
(d) Short-term provisions	103.400	153.500
Total Current Liabilities (4)	24268.000	15044.500
TOTAL	63921.600	48612.100
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	20284.100	14618.100
(ii) Intangible Assets	1054.800	1319.800
(iii) Capital work-in-progress	3316.200	2382.800
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.200	97.600
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	6747.400	4845.700
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	31402.700	23264.000
(2) Current assets
(a) Current investments	117.200	2.200
(b) Inventories	22304.700	18229.700
(c) Trade receivables	2179.900	2122.600
(d) Cash and cash equivalents	811.500	409.500
(e) Short-term loans and advances	7078.300	4545.400
(f) Other current assets	27.300	38.700
Total Current Assets	32518.900	25348.100
TOTAL	63921.600	48612.100

SOURCES OF FUNDS		30.06.2010 (12 Months)
SHAREHOLDERS FUNDS
1] Share Capital		665.000
2] Share Application Money		0.000
3] Reserves & Surplus		9618.600
4] (Accumulated Losses)		0.000
NETWORTH		10283.600
LOAN FUNDS
1] Secured Loans		12976.300
2] Unsecured Loans		2313.400
TOTAL BORROWING		15289.700
DEFERRED TAX LIABILITIES		563.000
TOTAL		26136.300
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12070.300
Capital work-in-progress		2240.700
INVESTMENT		2.400
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	11325.400
	Sundry Debtors	1475.000
	Cash & Bank Balances	634.800
	Other Current Assets	0.000
	Loans & Advances	6060.900
Total Current Assets		19496.100
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3074.700
	Current Liabilities	4404.900
	Provisions	193.600
Total Current Liabilities		7673.200
Net Current Assets		11822.900
MISCELLANEOUS EXPENSES		0.000
TOTAL		26136.300

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2012 (18 Months)	30.06.2011 (12 Months)	30.06.2010 (12 Months)
	SALES
		Income	110362.200	69248.300	29917.100
		Other Income	86.700	37.700	11.000
		TOTAL (A)	110448.900	69286.000	29928.100
Less	EXPENSES
		Purchases of stock-in-trade	86626.500	58734.500
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(4075.500)	(6952.900)
		Employee benefit expense	4125.200	2604.700
		Other expenses	15347.500	9679.300
		Exceptional items	(669.200)	0.000
		TOTAL (B)	101354.500	64065.600	27646.700
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		9094.400	5220.400	2281.400
Less	FINANCIAL EXPENSES (D)		5140.400	2316.500	1030.300
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3954.000	2903.900	1251.100
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2592.400	1211.800	504.400
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		1361.600	1692.100	746.700
Less	TAX (H)		461.200	562.100	240.700
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		900.400	1130.000	506.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1134.100	254.100	(1.900)
Less	APPROPRIATIONS
	Debenture Redemption Reserve		NA	250.000	250.000
	BALANCE CARRIED TO THE B/S		NA	1134.100	254.100
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings through credit cards	291.900	204.200	92.100
	IMPORTS
		Capital Goods	374.900	220.300	32.400
		Stock-in-trade	1483.100	1077.400	222.200
	TOTAL IMPORTS		1858.000	1297.700	254.600
	Earnings Per Share (Rs.)		13.54	16.99	13.99

KEY RATIOS

PARTICULARS		31.12.2012 (18 Months)	30.06.2011 (12 Months)	30.06.2010 (12 Months)
PAT / Total Income	(%)	0.82	1.63	1.69
Net Profit Margin (PBT/Sales)	(%)	1.23	2.44	2.50
Return on Total Assets (PBT/Total Assets}	(%)	2.25	3.67	3.83
Return on Investment (ROI) (PBT/Networth)		0.11	0.15	0.07
Debt Equity Ratio (Total Debt /Networth)		2.83	2.21	1.49
Current Ratio (Current Asset/Current Liability)		1.34	1.68	2.54

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	Yes

Profile

Client Industry	Retail
Client's discipline	--

General

The growth of the client's industry is best described as:	Growing
Brief description of the services and/or goods the client provides to the marketplace:	Retail Chain Business of Food and Other Items.
What is the legal structure of the client?	Subsidiary of a parent co
What type of company is the client?	Public

Credit Rating

Client's debt tracked by a credit rating agency?	Yes
Name of credit rating agency:	CARE
Credit rating class provided by credit rating agency:	Investment Grade
Client credit rating:	A and A1
Report on credit worthiness of client purchased from:	Not obtained

Client Financials

Does the client have a credit facility?	Yes
Do you have financial information on this client?	Yes
Credit facility type:	Secured/Unsecured
Amount of credit facility:	Rs. 34830.100 Millions
Do you have financial information on this client?	Yes
Currency of financial statements/data:	INR Millions
Annualized revenues:	Rs.110362.200 Millions
Annualized COGS:	--
Annualized EBITDA:	Rs.9094.400 Millions
Annualized net income:	Rs.110448.900 Millions
Cash balance:	Rs.811.500 Millions
Marketable Securities balance:	--
Accounts Receivable balance:	Rs. 2179.900 Millions
Current Assets balance:	Rs. 32518.900 Millions
Total assets balance:	Rs. 63921.600 Millions
Current Liabilities balance:	Rs. 24268.000 Millions
Long-Term Debt balance:	Rs.23495.900 Millions
Equity balance:	Rs.665.000 Millions
Net cash provided by operating activities:	--
Date of client's financial data populated:	--
Financial information provided above audited?	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10431809	11/06/2013	6,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B77256238
2	10433078	11/06/2013	1,500,000,000.00	CORPORATION BANK LIMITED	MID CORPORATE BRANCH, VEENA CHAMBERS, 21, DALAL STREET, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA	B77985752
3	10424211	10/04/2013	2,000,000,000.00	AXIS BANK LIMITED	2ND FLOOR, BOMBAY DYEING MILL COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B74607078
4	10419685	25/03/2013	1,000,000,000.00	AXIS BANK LIMITED	2ND FLOOR, BOMBAY DYEING MILL COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B73183543
5	10418634	18/03/2013	1,500,000,000.00	AXIS BANK LIMITED	2ND FLOOR, BOMBAY DYEING MILL COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B72866106
6	10418631	18/03/2013	2,500,000,000.00	AXIS BANK LIMITED	2ND FLOOR, BOMBAY DYEING MILL COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B72865926
7	10387813	01/11/2012	1,250,000,000.00	CORPORATION BANK LIMITED	MID CORPORATE BRANCH, VEENA CHAMBERS, 21, DALAL STREET, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA	B62493572
8	10382442	25/01/2013 *	650,000,000.00	AXIS BANK LIMITED	2ND FLOOR, BOMBAY DYEING MILL COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B70186895
9	10380448	17/09/2012	2,000,000,000.00	ALLAHABAD BANK	INDUSTRIAL FINANCE BRANCH, ALLAHABAD BANK BUILDING, 2ND FLOOR, 37 MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA	B59656389
10	10379935	13/09/2012	1,500,000,000.00	DENA BANK	C-10, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA	B59461152

UNSECURED LOAN

PARTICULARS	31.12.2012 (18 Months) (Rs. in Millions)	30.06.2011 (12 Months) (Rs. in Millions)
Long-term Borrowings
Fully convertible debentures others	6850.000	6850.000
Rupee term loans from banks	0.000	2176.700
Short-term borrowings
Intercorporate borrowings	145.000	0.000
Total	6995.000	9026.700

REVIEW OF PERFORMANCE

The review is for the financial period of eighteen months pursuant to extension of the present accounting period by six months. Their are pleased to inform you that the Retail business of the Company has been showing growth trend in spite of economy slowdown in entire retail industry during the financial period. The Company is in Value Retail segment. Income from Operations during the financial period was at Rs.110362.200 Millions which was at Rs. 69248.300 Millions during the financial year of 2010-11. PBDIT stood at Rs.692.400 Millions in during the financial period of 2011-12, which was at Rs.1692.200 Millions in the previous year. PAT for the financial period was Rs.900.400 Millions, which was at Rs.1130.000 Millions for the preceding year. Various factors as increased interest costs and other operating costs have impacted profitability. However, the Company has now taken corrective steps and strategic decisions to control the various operating costs and further the decision to merge operations (explained hereunder in more detail) would also enable the management to reduce double costs and use the core competency of management teams for the benefits of the business.

As explained above, since the current financial period was of eighteen months, accordingly, the current financial period result is not comparable with the previous financial period, which was of twelve months.

CONTINGENT LIABILITIES:

(Rs. in millions)

PARTICULARS	31.12.2012 (18 Months) (Rs. in Millions)	30.06.2011 (12 Months) (Rs. in Millions)
Claims against company not acknowledged as debt	15.000	2.400
Guarantees	116.900	703.600
Other money for which company is contingently liable	139.100	0.000
TOTAL CONTINGENT LIABILITIES	271.000	706.000

FIXED ASSETS

Tangible assets

· Buildings

· Office building

· Plant and equipment

· Factory equipments

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

· Leasehold improvements

Intangible assets

· Computer software

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.60.82
UK Pound	1	Rs.92.97
Euro	1	Rs.80.73

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	8
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		55

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.