MIRA INFORM REPORT

Report Date :

28.12.2013

IDENTIFICATION DETAILS

Name :	IMPRINTS INFRASTRUCTURE AND RETAIL LIMITED [w.e.f. 29.12.2009]
Formerly Known As :	SIESTA INFRASTRUCTURE AND RETAIL LIMITED
Registered Office :	17/7, Ali Asker Road, Cunningham Road, Bangalore-560052, Karnataka
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	28.04.2008
Com. Reg. No.:	08-046222
Capital Investment / Paid-up Capital :	Rs.0.500 Million
CIN No.: [Company Identification No.]	U45200KA2008PLC046222
TAN No.: [Tax Deduction & Collection Account No.]	BLRS28769G
PAN No.: [Permanent Account No.]	AALCS8917L
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The company is primarily engaged in the business of Marketing Branded Footwear, Providing Infrastructure and Allied Activities.
No. of Employees :	Information denied by the management.

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 accumulated losses which has eroded networth of the company. 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 – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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

India’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

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 co-operative [91-80-42459000]

LOCATIONS

Registered / Corporate Office :	17/7, Ali Asker Road, Cunningham Road, Bangalore-560052, Karnataka, India
Tel. No.:	91-80-42459000
Fax No.:	91-80-41123709
E-Mail :	info@siestaindia.com

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Tarun Banerjee

Designation :

Director

Address :

3027, Sai Krupa Sonia, 13^th Main Hal, II Stage, Indranagar, Bangalore-560038, Karnataka, India

Date of Birth/Age :

05.01.1950

Date of Appointment :

28.04.2008

Din No.:

02031142

Name :

Ms. Rajani Chattaraj

Designation :

Director

Address :

C-101, Sobha Aster, Begur Hobli, Bilekahalli, Bangalore-560076, Karnataka, India

Date of Birth/Age :

10.02.1974

Date of Appointment :

28.04.2008

Din No.:

00505064

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	Company/ LLP Status	Defaulting status
1	U63040KA2005PLC037834	SIESTA HOSPITALITY SERVICES LIMITED	Whole-time director	16/02/2008	02/12/2005	Active	NO
2	U63030KA2007PLC044195	SIESTA LOGISTICS CORPORATION LIMITED	Director	24/10/2007	24/10/2007	Active	NO
3	U45200KA2008PLC046222	IMPRINTS INFRASTRUCTURE AND RETAIL LIMITED	Whole-time director	28/04/2008	28/04/2008	Active	NO

Name :

Mr. Ashok Chattaraj

Designation :

Director

Address :

C-101, Sobha Aster, Begur Hobli, Bilekahalli, Bangalore-560076, Karnataka, India

Date of Birth/Age :

01.01.1976

Date of Appointment :

28.04.2008

Din No.:

00505081

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	Company/ LLP Status	Defaulting status
1	U63040KA2005PLC037834	SIESTA HOSPITALITY SERVICES LIMITED	Managing director	16/02/2008	19/01/2006	Active	NO
2	U63030KA2007PLC044195	SIESTA LOGISTICS CORPORATION LIMITED	Managing director	24/10/2007	24/10/2007	Active	NO
3	U45200KA2008PLC046222	IMPRINTS INFRASTRUCTURE AND RETAIL LIMITED	Managing director	28/04/2008	28/04/2008	Active	NO
4	U55101KA2010PTC053318	SIESTA RESTAURANTS AND CATERING SERVICES PRIVATE LIMITED	Director	21/04/2010	21/04/2010	Active	NO
5	U74900KA2011PTC059959	POLESTAR CONTENT AND MEDIA PRIVATE LIMITED	Director	11/08/2011	11/08/2011	Active	NO
6	U80302KA2012PTC066040	LA-PODIUM SKILL VENTURES PRIVATE LIMITED	Director	27/09/2012	27/09/2012	Active	NO
7	U80301KA2012PTC066537	ESTEEM EDU VENTURES INDIA PRIVATE LIMITED	Director	31/10/2012	31/10/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Rajni Chattaraj	10000
Ashok Chattaraj	31150
Chandranath Chattaraj	3500
Nirmala Ravindra Gaikwad	100
Tarun Banerjee	3500
Anupam Sanghvi	1250
Kiran Salunke	500
TOTAL	50000

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

The company is primarily engaged in the business of Marketing Branded Footwear, Providing Infrastructure and Allied Activities.

GENERAL INFORMATION

No. of Employees :

Information denied by the management.

Bankers :

Not Available

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Term Loans
From Banks [The above loans are secured by hypothecation of stock in trade, movables and fixed assets of the company, book debts, collateral security of residential property owned by one of the directors and personal security of directors]	0.000	43.144
TOTAL	0.000	43.144

Banking Relations :	--
Financial Institute :	3i Infotech Trusteeship Services Limited, 3^rd to 6^th Floor, International Infotech Park, Tower No. 5, Vashi Railway Station Complex, Vashi, Navi Mumbai-400703, Maharashtra, India
Auditors :
Name :	L.K. Kathare and Company Chartered Accountants
Address :	1^st Floor, Tower Block, Unity Building, J.C. Road, Bangalore-560002, Karnataka, India
Tel. No.:	91-80-22224963/ 22220111/ 41240655
E-Mail :	lkkathare@gmail.com

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 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	0.500	0.500	0.500
(b) Reserves & Surplus	(330.927)	(300.132)	(180.883)
(c) Money received against share warrants	0.000	0.000	0.000
(d) Preliminary expenses	0.000	0.000	(0.043)
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	(330.427)	(299.632)	(180.426)
(3) Non-Current Liabilities
(a) long-term borrowings	302.774	298.878	258.167
(b) Deferred tax liabilities (Net)	0.192	0.429	0.748
(c) Other long term liabilities	2.927	5.351	8.145
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	305.893	304.658	267.060
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	38.415	41.078	42.228
(c) Other current liabilities	5.221	4.812	1.921
(d) Short-term provisions	1.929	3.345	5.427
Total Current Liabilities (4)	45.565	49.235	49.576
TOTAL	21.031	54.261	136.210
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.909	12.560	19.984
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.969	2.059	0.787
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	9.878	14.619	20.771
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.072	7.288	69.564
(c) Trade receivables	5.062	18.583	22.832
(d) Cash and cash equivalents	0.652	1.877	8.190
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	5.367	11.894	14.853
Total Current Assets	11.153	39.642	115.439
TOTAL	21.031	54.261	136.210

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	6.880	98.137	81.117
		Other Income	1.293	0.782	0.666
		TOTAL (A)	8.173	98.919	81.783
Less	EXPENSES
		Purchases	2.734	10.500	90.918
		Employee Costs	4.713	27.928	40.690
		Other Expenses	17.618	86.590	57.748
		Changes in Inventories	7.216	62.276	(20.371)
		TOTAL (B)	32.281	187.294	168.985
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(24.108)	(88.375)	(87.202)
Less	FINANCIAL EXPENSES (D)		4.948	28.079	22.041
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(29.056)	(116.454)	(109.243)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.976	3.114	1.812
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(31.032)	(119.568)	(111.055)
Less	TAX (H)		(0.237)	(0.319)	0.444
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(30.795)	(119.249)	(111.499)
	EARNINGS IN FOREIGN CURRENCY
		Export of Footwear	9.456	0.000	NA
	IMPORTS
		Accessories	0.027	0.000	NA
	Earnings / (Loss) Per Share (Rs.)		(616.00)	(2385.00)	(2230.00)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(376.79)	(120.55)	(136.34)
Net Profit Margin (PBT/Sales)	(%)	(451.05)	(121.84)	(136.91)
Return on Total Assets (PBT/Total Assets}	(%)	(147.55)	(220.35)	(81.53)
Return on Investment (ROI) (PBT/Networth)		0.09	1.21	0.62
Debt Equity Ratio (Total Debt/Networth)		(0.92)	(1.00)	(1.43)
Current Ratio (Current Asset/Current Liability)		0.24	0.81	2.33

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	No
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	No
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10190966	05/01/2012 *	60,000,000.00	3i Infotech Trusteeship Services Limited	3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI - 400703, MAHARASHTRA, INDIA	B29203791
* Date of charge modification

NATURE OF BUSINESS:

The company is incorporated on 28^th April 2008 as a Limited under the Companies Act, 1956. The company is primarily engaged in the business of marketing branded footwear, providing infrastructure and allied activities.

Unsecured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Form Others	0.000	16.800
Loans and Advances From Related Parties
From Siesta Hospitality Services Limited	201.498	137.658
From Siesta Logistics Corporation Limited	26.276	26.276
From Directors	75.000	75.000
TOTAL	302.774	255.734

FIXED ASSETS:

· Office Renovation

· Computer and Accessories

· Electrical Instrument

· Furniture and Fixtures

· Computer Software

· Office Equipment

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.62.05
UK Pound	1	Rs.102.03
Euro	1	Rs.85.27

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	TPT

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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--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.