MIRA INFORM REPORT

Report Date :

16.12.2013

IDENTIFICATION DETAILS

Name :	PEACH MERCANTILE PRIVATE LIMITED (w.e.f. 26.08.2008)
Formerly Known As :	BRAIN SEARCH CONSULTANTS PRIVATE LIMITED
Registered Office :	Lodha Bhavan, Plot No. 97/1, J.B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	15.07.2002
Com. Reg. No.:	11-136505
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U74140MH2002PTC136505
PAN No.: [Permanent Account No.]	AACCB8179N
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Garments, Fabrics, Food Products Leather Products and Electronic Goods.
No. of Employees :	5 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appears some accumulated losses which has eroded networth of the company. However, trade relations are fair. Business is active. Payment terms are slow. The company can be considered for business dealing on a safe and secured 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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6 % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Ramn Tar
Designation :	Accountant
Contact No.:	91-9323005174
Date :	14.12.2013

LOCATIONS

Registered Office :	Lodha Bhavan, Plot No. 97/1, J.B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9323005174
Fax No.:	Not Available
E-Mail :	pawanacs@gmail.com
Location :	Owned

DIRECTORS

As on: 29.09.2012

Name :

Mr. Swaroop Shobagchand Lodha

Designation :

Director

Address :

Lodha Bhawan, Plot 97/1, J.B. Nagar, Andheri (East), Mumbai - 400 059, Maharashtra, India

Date of Appointment :

14.12.2005

PAN No.:

AAAPL7173K

DIN No.:

00074335

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	U65921KA1996PTC020352	ASUTI TRADING PRIVATE LIMITED	Director	23/04/1996	23/04/1996	13/03/2008	Active	NO
2	U18101MH1997PTC109676	STITCHWELL GARMENTS PRIVATE LIMITED	Director	29/07/1997	29/07/1997	05/03/2008	Active	NO
3	U65921KA1996PTC020353	OPPORTUNE TRADING PRIVATE LIMITED	Director	29/05/1998	29/05/1998	-	Active	NO
4	U74140MH2002PTC136505	PEACH MERCANTILE PRIVATE LIMITED	Director	14/12/2005	14/12/2005	-	Active	NO
5	U74999MH2007PTC166931	ANIKA MERCHANTS AND TRADERS PRIVATE LIMITED	Director	30/09/2009	13/03/2009	-	Active	NO
6	U55101MH2007PTC172953	FUTURE HOSPITALITY PRIVATE LIMITED	Director	30/09/2009	30/03/2009	29/09/2011	Active	NO
7	U70109MH2006PTC160395	SHIVAM MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	30/09/2009	30/03/2009	05/03/2010	Active	NO
8	U70109MH2006PTC160388	NIRVANA MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	30/09/2009	30/03/2009	05/03/2010	Active	NO
9	U52190MH2006PTC160414	PAVITRA MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	30/09/2009	30/03/2009	23/03/2010	Active	NO
10	U70109MH2007PTC166935	ACME REALTY DEVELOPERS PRIVATE LIMITED	Director	30/09/2009	30/03/2009	27/11/2009	Active	NO
11	U74900KA2007PTC071171	INTEGRATED FOOD PARK PRIVATE LIMITED	Director	30/09/2009	30/03/2009	16/10/2010	Active	NO
12	U52100MH2007PTC167268	PAIRS RETAIL INDIA PRIVATE LIMITED	Director	21/09/2010	04/01/2010	30/03/2013	Active	NO
13	U74999MH2007PTC167999	AMAN SYNTEX PRIVATE LIMITED	Director	30/09/2010	27/02/2010	-	Active	NO
14	U15316MH2010ULT204160	MAYS FOODS PRIVATE LIMITED	Director	14/06/2010	14/06/2010	-	Active	NO
15	U45200MH2004PTC150320	MARUTI DWELLERS PRIVATE LIMITED	Director	09/05/2011	09/05/2011	20/12/2012	Active	NO
16	U51909DL2012PTC234193	SKECHERS SOUTH ASIA PRIVATE LIMITED	Director	11/04/2012	11/04/2012	-	Active	NO

Name :

Mr. Amit Swaroop Lodha

Designation :

Director

Address :

Lodha Bhawan, Plot 97/1, J.B. Nagar, Andheri (East), Mumbai - 400 059, Maharashtra, India

Date of Appointment :

14.12.2005

PAN No.:

ABHPL5101F

DIN No.:

00156180

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	U67120MH1985PTC038115	ALSUMA INVESTMENTS PRIVATE LIMITED	Director	01/06/2001	01/06/2001	01/10/2010	Active	NO
2	U74140MH2002PTC136505	PEACH MERCANTILE PRIVATE LIMITED	Director	14/12/2005	14/12/2005	-	Active	NO
3	U15316MH2010ULT204160	MAYS FOODS PRIVATE LIMITED	Director	14/06/2010	14/06/2010	-	Active	NO
4	U65921KA1996PTC020353	OPPORTUNE TRADING PRIVATE LIMITED	Director	18/05/2012	18/05/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ramn Tar
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Swaroop Shobagchand Lodha	5000
Amit Swaroop Lodha	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Garments, Fabrics, Food Products Leather Products and Electronic Goods.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :	End Users
No. of Employees :	5 (Approximately)
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	Manoj K Shah and Co Chartered Accountants
Address :	9/11, Poddar Mansion, 2nd Floor, Wanka Mohalla, Kolbhat Lane, Off. M. B. Welkar Street, Mumbai - 400 002, Maharashtra, India
PAN No.:	ALUPS6322E
Subsidiary company:	· Inspire Business Concepts Private Limited CIN No.: U74999MH2002PTC135293

CAPITAL STRUCTURE

As on: 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	(11.170)	(6.900)	0.638
(c) Money received against share warrants	0.000	0.000	0.000
	0
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	(11.070)	(6.800)	0.738
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	71.562	91.292
(b) Trade payables	562.611	636.768	230.265
(c) Other current liabilities	0.570	0.039	0.024
(d) Short-term provisions	0.000	0.000	0.080
Total Current Liabilities (4)	563.181	708.369	321.661
TOTAL	552.111	701.569	322.399
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	2.560	2.560	24.560
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.218	0.218	0.105
Total Non-Current Assets	2.778	2.778	24.665
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	12.302	12.302	6.301
(c) Trade receivables	408.316	517.999	290.565
(d) Cash and cash equivalents	0.115	0.990	0.868
(e) Short-term loans and advances	128.600	167.500	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	549.333	698.791	297.734
TOTAL	552.111	701.569	322.399

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
SALES
	Income	NA	NA	NA
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
EXPENSES
	Office Expenses
	Administrative Expenses
	Advertising Expenses
	TOTAL	NA	NA	NA
NET LOSS		(4.271)	(7.537)	0.303

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt/Networth)	0.00	(10.52)	123.70
Current Ratio (Current Asset/Current Liability)	0.98	0.99	0.92

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
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	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	No
24]	Banking facility details	No
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
Short term borrowings
Intercorporate borrowings	0.000	71.562
Total	0.000	71.562

FINANCIALS

During the year, the Company incurred a net Loss of 4.271 millions (Previous Year Loss of 7.537 millions).

Note: No Charges Exist for Company

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. 62.12
UK Pound	1	Rs. 101.53
Euro	1	Rs. 85.41

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		11

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.