MIRA INFORM REPORT

Report Date :

18.02.2013

IDENTIFICATION DETAILS

Name :	FLOURISH DECORATORS PRIVATE LIMITED (w.e.f. 20.09.2011)
Formerly Known As :	COSMIC DECORATORS PRIVATE LIMITED
Registered Office :	305, Third Floor, Karampura Commercial Complex, New Delhi – 110015
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	11.05.2010
Com. Reg. No.:	55-202507
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U52100DL2010PTC202507
TAN No.: [Tax Deduction & Collection Account No.]	DELC11622C
PAN No.: [Permanent Account No.]	AADCC9709N
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in business of interior decorating, sales, marketing, consulting and other business auxiliary services.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (18)

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 :	Recently started business activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated in the years 2010. But they have started their business activities from October 2012. Management has denied to disclose any other information about the subject company. However, trade relations are reported to be fair. Business is active. Payments are reported to be unknown. The company can be considered for business dealings on a safe and secured trade terms and condition.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION DECLINED BY

Name :	Mr. Raj Kumar
Designation :	Finance Manager
Contact No.:	91-9810058391
Date :	11.02.2013

LOCATIONS

Registered Office :	305, Third Floor, Karampura Commercial Complex, New Delhi – 110015, India
Tel. No.:	Not Available
Mobile No.:	91-9810058391 (Mr. Raj Kumar)
Fax No.:	Not Available
E-Mail :	deepak@welltd.com sharmavijay69@yahoo.co.in

DIRECTORS

As on 29.09.2012

Name :

Mr. Kuldip Singh Shankhla

Designation :

Director

Address :

House No. 516, Railway Colony, Ward No. 3, Bahadurgarh -124507, Haryana, India

Date of Birth/Age :

06.08.1969

Date of Appointment :

11.05.2010

DIN No.:

00241849

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	U45200DL2006PTC156504	FIVERIVERS DEVELOPERS PRIVATE LIMITED	Director	13-12-06	13-12-06	07-09-07	Active	NO
2	U45200DL2007PTC158808	EVOLUTION BUILDCON PRIVATE LIMITED	Director	05-02-07	05-02-07	-	Active	NO
3	U45400DL2007PTC164707	OMEGA PROPBUILD PRIVATE LIMITED	Director	28-11-08	24-03-08	-	Active	NO
4	U52100DL2010PTC202507	FLOURISH DECORATORS PRIVATE LIMITED	Director	11-05-10	11-05-10	-	Active	NO
5	U70200DL2010PTC202571	COSMIC INFRASOLUTIONS PRIVATE LIMITED	Director	12-05-10	12-05-10	31-05-10	Active	NO
6	U74900DL2008PTC184475	SNS IT SERVICES PRIVATE LIMITED	Additional director	01-11-10	01-11-10	-	Active	NO
7	U70100DL2011PTC218008	CORAL BUILDHOME PRIVATE LIMITED	Director	22-10-12	29-04-11	-	Active	NO
8	U70109DL2011PTC215799	CORAL PROPBUILD PRIVATE LIMITED	Director	27-10-11	29-04-11	-	Active	NO
9	U45204HR2010PTC040892	TAJ TOWN PLANNERS PRIVATE LIMITED	Director	12-10-11	29-04-11	-	Active	NO
10	U45204HR2010PTC040893	WHITE HOUSE INFRA DEVELOPERS PRIVATE LIMITED	Director	12-10-11	29-04-11	-	Active	NO
11	U45200HR2010PTC040895	GULMOHAR REALBUILD PRIVATE LIMITED	Director	12-10-11	29-04-11	-	Active	NO
12	U52100DL2009PTC194544	MBEDI CREATIONS ONLINE PRIVATE LIMITED	Additional director	22-10-11	22-10-11	-	Active	NO
13	U74920DL1999PTC098254	COSMIC SECURITAS PRIVATE LIMITED	Director	14-11-11	14-11-11	-	Active	NO

Name :

Mr. Manju Sharma

Designation :

Additional Director

Address :

V-11/22, DLF Phase-III, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

25.12.1961

Date of Appointment :

29.09.2012

DIN No.:

01552243

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	U24246DL2004PTC126293	PARUL-SHWAY HERBALS PRIVATE LIMITED	Director	12-05-04	12-05-04	-	Active	YES
2	U52100DL2010PTC202507	FLOURISH DECORATORS PRIVATE LIMITED	Director	29-09-12	12-06-12	-	Active	NO
3	AAB-2478	TERRA AGRICA (INDIA) LLP	Designated Partner	06-12-12	06-12-12	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Raj Kumar
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Suraj Bhan Sharma	5000
Kuldip Singh Shankhla	5000
Total	10000

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	50.00
Other top fifty shareholders	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The company is engaged in business of interior decorating, sales, marketing, consulting and other business auxiliary services.
Products :	Interiors Designing

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Indusind Bank

Banking Relations :	--
Auditors :
Name :	Vijay Kumar and Company Chartered Accountants
Address :	305, 3^rd Floor, Kanchan House, Karampura Commercial Complex, Delhi – 110015, India
Tel. No.:	91-11-25920864
Mobile No.:	91-9811140508
PAN.:	AAFFV4256J

CAPITAL STRUCTURE

As on 31.03.2012

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

Reconciliation of number of equity shares

Particular	Number of shares	Amount In Millions
Opening Balance	10,000	0.100
Changes during the year	--	--
Closing Balance	10,000	0.100

Rights, preferences and restrictions attached to shares

The Company has one class of equity shares having a par value of Rs.10 each. Each shareholder is eligible for one vote per share held.

Details of equity shares held by shareholder holding more than 5% of the aggregate shares in the Company

Particular	Number of shares	Amount In Millions
Kuldeep Singh	5,000	0.050
Suraj Bhan Sharma	5,000	0.050

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		1.070	0.169
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1.170	0.269
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		1.170	0.269
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.003	0.005
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.325	0.000
	Cash & Bank Balances	0.459	0.095
	Other Current Assets	0.000	0.000
	Loans & Advances	197.194	70.194
Total Current Assets		197.978	70.289
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000
	Other Current Liabilities	196.811	70.025
	Provisions	0.000	0.000
Total Current Liabilities		196.811	70.025
Net Current Assets		1.167	0.264
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		1.170	0.269

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2012	31.03.2011
	SALES
		Income		1.825	2.500
		Other Income
		TOTAL		1.825	2.500
Less	EXPENSES
		Office Expenses
		Administrative Expenses		0.521	2.251
		Advertising Expenses
		TOTAL		0.521	2.251
Less	PROFIT BEFORE INTEREST AND TAX			1.304	0.249
Less	FINANCIAL EXPENSES			0.000	0.003
	PROFIT BEFORE TAX			1.304	0.246
Less	TAX			0.404	0.077
	PROFIT AFTER TAX			0.900	0.169
	Earnings Per Share (Rs.)			90.00	16.94

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011
PAT / Total Income	(%)	49.32	6.76
Return on Total Assets (PBT/Total Assets}	(%)	0.66	0.35
Return on Investment (ROI) (PBT/Networth)		1.11	0.91
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.01	1.00

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

PERFORMANCE

During the Year, the Company has earned Total Income of Rs. 1.825 Millions (Previous year Rs.2.500 Millions). The Company has earned Profit after tax of Rs. 0.900 Million (Previous year Rs.0.169 Million). Management is hopeful for increase in Income & Profits during the Current Financial Year.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.99
UK Pound	1	Rs.83.72
Euro	1	Rs.72.09

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		18

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	-

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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.