MIRA INFORM REPORT

Report Date :

31.08.2013

IDENTIFICATION DETAILS

Name :	PICCADILY HOTELS PRIVATE LIMITED
Registered Office :	Janakpuri Dsitrict Centre Complex, Janakpuri, New Delhi – 110058
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.09.1973
Com. Reg. No.:	55-112865
Capital Investment / Paid-up Capital :	Rs. 252.500 Millions
CIN No.: [Company Identification No.]	U55101DL1973PTC112865
PAN No.: [Permanent Account No.]	AACCP3205F
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is primarily engaged in the business of Hotels.
No. of Employees :	Not Divulged

RATING and COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 5597000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a well established company having a moderate track record. The financial for the year 2012 is not available. As per the previous year, the company seems to be performing well. Trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. 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 – 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.

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE [91-11-66231000]

LOCATIONS

Registered Office :	Janakpuri Dsitrict Centre Complex, Janakpuri, New Delhi – 110058, India
Tel. No.:	91-11-41234123
Fax No.:	91-11-41234124
E-Mail :	cs.nikhilesh@gmail.com
Website :	http://www.thepiccadily.com
Corporate Office :	275 – 276, Piccadily House, Capt. Gaur Marg, Sriniwaspuri, Near Okhla Bus Depot, New Delhi – 110067, India
Tel. No.:	91-11–41802300–01
Fax No.:	91-11–26316231
Branch Offices :	Located at: · Chandigarh · Raipur · Manali · Lucknow

DIRECTORS

AS ON 28.09.2012

Name :

Mr. Kartikeya Sharma

Designation :

Managing director

Address :

House No. 229, Sector 9C, Chandigarh, Union Territory-160017, India

Date of Birth/Age :

14.05.1981

Qualification :

MBA Degree from Oxford University

Date of Appointment :

05.06.2002

DIN No.:

00066621

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	U55101DL1973PTC112865	PICCADILY HOTELS PRIVATE LIMITED	Managing director	05/06/2002	05/06/2002	-	Active	NO
2	U70101DL1982PLC013108	PICCADILY HOLIDAY RESORTS LIMITED	Director	30/07/2003	30/07/2003	13/01/2007	Active	NO
3	U65990MH1981PLC024643	SOON-N-SURE HOLDINGS LTD	Director	30/05/2005	30/05/2005	-	Active	NO
4	U45201DL2005PLC140142	ORIENT CRAFT INFRASTRUCTURE LIMITED	Director	09/11/2005	09/11/2005	-	Active	NO
5	U51909DL2006PTC146800	TOTS AND TWEENS STORES PRIVATE LIMITED	Director	24/02/2006	24/02/2006	-	Active	NO
6	U55101DL2006PTC147923	ZING HOTELS PRIVATE LIMITED	Director	23/03/2006	23/03/2006	-	Active	NO
7	U74999HR2003PTC035249	ABC NEWS NETWORK PRIVATE LIMITED	Director	27/06/2006	27/06/2006	-	Dormant	NO
8	U15531DL2006PTC151517	GREENFIELD WASTE MANAGEMENT PRIVATE LIMITED	Director	02/08/2006	02/08/2006	-	Active	NO
9	L01115HR1994PLC032244	PICCADILY AGRO INDUSTRIES LIMITED	Director	29/09/2007	30/10/2006	-	Active	NO
10	U22211DL2006PTC156450	GOOD MORNING INDIA MEDIA PRIVATE LIMITED	Director	12/12/2006	12/12/2006	-	Active	NO
11	U70102DL2007PTC161698	INFORMATION TV PRIVATE LIMITED	Director	05/04/2007	05/04/2007	-	Active	NO
12	U15122DL2007PTC162115	PICCADILY FLIGHT KITCHEN FOODS & BEVERAGES PRIVATE LIMITED	Director	16/04/2007	16/04/2007	-	Active	NO
13	U64204DL2007PTC170598	CLEAR VISION MEDIA PRIVATE LIMITED	Director	28/09/2012	20/11/2007	15/03/2013	Active	NO
14	U72900DL2007PTC170934	DIRECT TV PRIVATE LIMITED	Director	30/11/2007	30/11/2007	14/06/2012	Active	NO
15	U73100DL2007PTC171103	KNS RESEARCH ORGANISATION PRIVATE LIMITED	Director	05/12/2007	05/12/2007	-	Active	NO
16	U92130DL2008PTC181172	GANGA TV PRIVATE LIMITED	Director	22/07/2008	22/07/2008	-	Active	NO
17	U92130DL2008PTC181171	I TV NEWS PRIVATE LIMITED	Director	22/07/2008	22/07/2008	-	Active	NO
18	U92130DL2008PTC181167	INDIA NEWS BROADCASTING PRIVATE LIMITED	Director	22/07/2008	22/07/2008	-	Active	NO
19	U80302CH2008PTC031361	CHANDIGARH FLYING SCHOOL PRIVATE LIMITED.	Director	30/09/2009	18/09/2008	-	Active	NO
20	U45200DL2008PTC186106	VICTOR CONTRACTOR PRIVATE LIMITED	Director	24/12/2008	24/12/2008	-	Active	NO
21	U93030DL2009PTC197081	MUMBAI MEDIA NETWORK PRIVATE LIMITED	Director	17/12/2009	17/12/2009	-	Active	NO
22	L15424PB1993PLC013137	PICCADILY SUGAR AND ALLIED INDUSTRIES LIMITED	Director	23/09/2010	29/05/2010	30/03/2013	Active	NO
23	U72200DL2010PTC200887	TATHASTU INFORMATION TECHNOLOGY PRIVATE LIMITED	Director	02/02/2011	01/12/2010	-	Active	NO
24	U64200DL2011PTC226691	NBC MEDIA PRIVATE LIMITED	Director	24/10/2011	24/10/2011	-	Active	NO
25	U64100DL2011PTC226717	ITN NEWS PRIVATE LIMITED	Director	24/10/2011	24/10/2011	-	Active	NO
26	U22210DL2012PTC231539	INDIA NEWSWIRE SERVICES PRIVATE LIMITED	Director	15/02/2012	15/02/2012	-	Active	NO

Name :

Mr. Shakti Rani Sharma

Designation :

Director

Address :

House No. 229, Sector 9C, Chandigarh, Union Territory-160017, India

Date of Birth/Age :

23.04.1953

Date of Appointment :

30.06.2005

DIN No.:

00066896

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	U70101DL1982PLC013108	PICCADILY HOLIDAY RESORTS LIMITED	Director	10/01/1985	10/01/1985	13/01/2007	Active	NO
2	U65921CH1991PLC011599	K N LAND DEVELOPMENT AND LEASING LIMITED	Director	27/08/1991	27/08/1991	-	Active	NO
3	U65990MH1981PLC024643	SOON-N-SURE HOLDINGS LTD	Director	21/08/1995	21/08/1995	-	Active	NO
4	U55101DL1973PTC112865	PICCADILY HOTELS PRIVATE LIMITED	Director	30/06/2005	30/06/2005	-	Active	NO
5	U51909DL2006PTC146800	TOTS AND TWEENS STORES PRIVATE LIMITED	Director	24/02/2006	24/02/2006	-	Active	NO
6	U55101DL2006PTC147923	ZING HOTELS PRIVATE LIMITED	Director	23/03/2006	23/03/2006	-	Active	NO
7	U73100DL2007PTC171103	KNS RESEARCH ORGANISATION PRIVATE LIMITED	Director	05/12/2007	05/12/2007	-	Active	NO

Name :

Mr. Rajinder Paul

Designation :

Nominee director

Address :

76/4 A, Rajpur Road, Dehradun - 248001, Uttarakhand, India

Date of Birth/Age :

18.11.1959

Date of Appointment :

29.06.2009

DIN No.:

00431812

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	U74899DL2005PTC143136	MCM INFRASTRUCTURE PRIVATE LIMITED	Additional director	01/08/2008	01/08/2008	-	Active	NO
2	U45203DL2005PLC137777	SHRISTI URBAN INFRASTRUCTURE DEVELOPMENT LIMITED	Nominee director	25/09/2008	01/08/2008	-	Active	NO
3	U55101WB2007PTC112974	SHRISTI UDAIPUR HOTELS & RESORTS PRIVATE LIMITED	Nominee director	04/09/2009	01/08/2008	-	Active	NO
4	U74899DL1995PTC072752	MAHAGUN (INDIA) PRIVATE LIMITED	Nominee director	27/01/2009	23/01/2009	03/10/2011	Active	NO
5	U74899DL2002PTC114606	INDIRAPURAM HABITAT CENTRE PRIVATE LIMITED	Nominee director	17/03/2009	17/03/2009	-	Active	NO
6	U45202HR2002PLC035122	DELHI-GURGAON SUPER CONNECTIVITY LIMITED	Nominee director	20/06/2009	20/06/2009	24/11/2009	Active	NO
7	U55101DL1973PTC112865	PICCADILY HOTELS PRIVATE LIMITED	Nominee director	29/06/2009	29/06/2009	-	Active	NO

Name :

Mr. Venod Sharma Kumar

Designation :

Director

Address :

House No. 229, Sector 9C, Chandigarh, Union Territory-160017, India

Date of Birth/Age :

30.01.1948

Date of Appointment :

01.10.2011

DIN No.:

05301285

KEY EXECUTIVES

Name :	Ms. Hema Kumari
Designation :	Secretary
Address :	16/42 E, Tank Road, Karolbagh, New Delhi, India
Date of Birth/Age :	17.02.1981
Date of Appointment :	01.03.2012
PAN No.:	AUDPK3728N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2012

Names of Shareholders	No. of Shares
Venod Sharma Kumar	1192525
Shakti Rani Sharma	104840
Anita Dada	8684
Mohan Lal Sharma	1085
Prachi Shetty	19940
Jagat Kaur	270
Manoj Kumar	217
Venod Sharma Kumar and Sons (HUF)	128116
Siddhartha Vashishta	110215
Kartikeya Sharma	457477
Soon-N-Sure Holdings Limited, India	403730
Mark Buildtech Private Limited, India	162900
Vinod Dada	1
Lakshya Buildtech Private Limited, India	40000
Total	2630000

AS ON 28.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	23.06
Directors or relatives of directors	72.07
Other top fifty shareholders	4.87
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is primarily engaged in the business of Hotels.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Punjab National Bank, Large Corporate Branch, Tolystoy Branch, Delhi - 110001, India

· ICICI Bank Limited

· HDFC Bank Limited

· Andhra Bank, M - 35, Connaught Circus, New Delhi - 110001, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loans taken for vehicles	10.190	12.777
Loans taken for fixed assets	1585.569	875.692
Total	1595.759	888.469

Banking Relations :	--
Financial Institution :	Indiabulls Financial Services Limited, F-60 Malhotra Building, 2nd Floor, Connaught Palace, New Delhi - 110001, India
Auditors :
Name :	M. Mohan and Company Chartered Accountants
Address :	C-3, Amar Colony Market, Lajpat Nagar-IV, New Delhi-110024, India
Income-tax PAN of auditor or auditor's firm :	AAEPA1698Q
Wholly Owned/ Subsidiary Companies :	Tots and Tweens Stores Private Limited [U51909DL2006PTC146800]
Entities over which Key Management Personnel And or relatives are able to exercise, Significant influence :	· ABC News Network Private Limited [U74999HR2003PTC035249] · Zing Hotels Private Limited · Green Field Waste Management Private Limited [U15531DL2006PTC151517] · Piccadily Flight Kitchen Foods and Beverages Private Limited · Zing Hotels Private Limited [U55101DL2006PTC147923] · Soon N Sure Holdings Limited [U65990MH1981PLC024643] · Direct TV Private Limited · KNS Research Organisation Private Limited · Clear Vision Media Private Limited · Mumbai Media Network Private Limited · Victor Contractor Private Limited

CAPITAL STRUCTURE

AS ON 28.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2,900,000	Equity Shares	Rs. 100/- each	Rs. 290.000 Millions

Issued, Subscribed and Paid-up Capital :

No. of Shares	Type	Value	Amount
2,630,000	Equity Shares	Rs. 100/- each	Rs. 263.000 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2,900,000	Equity Shares	Rs. 100/- each	Rs. 290.000 Millions

Issued, Subscribed and Paid-up Capital :

No. of Shares	Type	Value	Amount
2,525,000	Equity Shares	Rs. 100/- each	Rs. 252.500 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		252.500	251.830	251.830
2] Share Application Money		91.012	50.020	0.000
3] Reserves and Surplus		1055.797	1149.489	1158.392
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1399.309	1451.339	1410.222
LOAN FUNDS
1] Secured Loans		1595.759	888.469	531.771
2] Unsecured Loans		1486.402	918.991	601.332
TOTAL BORROWING		3082.161	1807.460	1133.103
DEFERRED TAX LIABILITIES		26.154	0.000	0.000
TOTAL		4507.624	3258.799	2543.325
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1896.437	1788.274	2287.433
Capital work-in-progress		2286.809	1279.592	0.000
INVESTMENT		68.765	68.765	100.765
DEFERRED TAX ASSETS		0.000	1.636	1.736
CURRENT ASSETS, LOANS and ADVANCES
	Inventories	9.720	2.065	0.351
	Sundry Debtors	40.520	14.514	15.766
	Cash and Bank Balances	233.176	108.297	25.500
	Other Current Assets	91.346	40.096	23.160
	Loans and Advances	384.843	361.976	423.044
Total Current Assets		759.605	526.948	487.821
Less : CURRENT LIABILITIES and PROVISIONS
	Sundry Creditors	159.227	103.517	63.979
	Other Current Liabilities	343.735	302.262	270.872
	Provisions	1.448	1.195	0.276
Total Current Liabilities		504.410	406.974	335.127
Net Current Assets		255.195	119.974	152.694
MISCELLANEOUS EXPENSES		0.418	0.558	0.697
TOTAL		4507.624	3258.799	2543.325

PROFIT and LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	598.400	120.503	130.907
		Other Income	0.000	0.000	0.000
		TOTAL (A)	598.400	120.503	130.907
Less	EXPENSES
		Eatables Consumed		12.879	14.309
		Power and Fuel		22.839	20.247
		Payment to Employee		22.772	21.436
		Repair and Maintenance		3.157	5.375
		Administrative and Other Expenses		46.283	30.264
		Preliminary Exp. w/off		0.139	0.215
		TOTAL (B)	555.836	108.069	91.846
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		42.564	12.434	39.061
Less	FINANCIAL EXPENSES (D)		43.806	2.831	1.587
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(1.242)	9.603	37.474
Less/ Add	DEPRECIATION/ AMORTISATION (F)		127.388	8.407	8.919
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(128.630)	1.196	28.555
Less	TAX (H)		35.878	10.099	2.546
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(164.508)	(8.903)	26.009
	Earnings/ (Loss) Per Share (Rs.)		(65.15)	(3.54)	10.33

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(27.49)	(7.39)	19.87
Net Profit Margin (PBT/Sales)	(%)	(21.50)	0.99	21.81
Return on Total Assets (PBT/Total Assets}	(%)	(4.84)	0.05	1.03
Return on Investment (ROI) (PBT/Networth)		(0.09)	0.00	0.02
Debt Equity Ratio (Total Debt/Networth)		2.20	1.25	0.80
Current Ratio (Current Asset/Current Liability)		1.51	1.29	1.46

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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10419700	29/03/2013	250,000,000.00	ANDHRA BANK	M - 35, CONNAUGHT CIRCUS, NEW DELHI - 110001, INDIA	B73189045
2	10419702	29/03/2013	464,285,714.00	ANDHRA BANK	M - 35, CONNAUGHT CIRCUS, NEW DELHI - 110001, INDIA	B73189474
3	10409460	05/02/2013	250,000,000.00	PUNJAB NATIONAL BANK	LARGE CORPORATE BRANCH, TOLSTOY HOUSE, TOLSTOY MARG, NEW DELHI - 110001, INDIA	B69964195
4	10333821	03/10/2012 *	850,000,000.00	INDIABULLS FINANCIAL SERVICES LIMITED	F-60 MALHOTRA BLDG2ND FLOOR, CANNAUGHT PALACE, NEW DELHI - 110001, INDIA	B62660485
5	10279025	29/03/2013 *	700,000,000.00	PUNJAB NATIONAL BANK	BO : LARGE CORPORATE BRANCH, TOLSTOY HOUSE, TOLSTOY MARG, NEW DELHI - 110001, INDIA	B73704918
6	10169216	29/03/2013 *	1,500,000,000.00	PUNJAB NATIONAL BANK	BO : LARGE CORPORATE BRANCH, TOLSTOY HOUSE, TOLSTOY MARG, NEW DELHI - 110001, INDIA	B73703142
7	80034122	12/06/2007 *	580,000,000.00	HOUSING AND URBAN DEVELOPMENT CORPN LTD	HUDCO BHAWAN, INDIA, HABITAT CENTER, LODHI ROAD, NEW DELHI - 110003, INDIA	A19859305

* Date of charge modification

UNSECURED LOANS

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loans subsidiaries	8.045	8.045
Loans taken for fixed assets	1478.357	910.946
Total	1486.402	918.991

Note:

The registered office of the company has been shifted from 275, Sriniwaspuri Captain Gaur Marg, New Delhi – 110065, India to the present w.e.f.16.02.2013

REVIEW OF THE OPERATIONS

The turnover of the Company has improved this year at Rs. 598.400 Millions as compared to the turnover of Rs. 120.503 Millions for the previous year. However, during the year, the Company has suffered a net loss of Rs. 128.630 Millions as compared to the net profit of Rs. 1.195 Millions of the previous year. Profitability of the Company was adversely affected during the year on account of inflation, increased overhead cost, guests spending less on so called incidental articles and higher operational costs resulting in lower profit during year 2010-2011. In addition to above the global recessionary trend has had its impact on Indian Tourism and Hospitality industry. We believe that a recovery process will start soon and profit next year onwards will improve.

FIXED ASSETS:

· Land

· Building

· Plant and machinery

· Computer equipments

· Furniture and fixtures

· Vehicles

CMT REPORT (Corruption, Money Laundering and 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. 67.71
UK Pound	1	Rs. 105.14
Euro	1	Rs. 90.03

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	BVA

SCORE and RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		33

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 and operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

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