MIRA INFORM REPORT

Report Date :

09.07.2013

IDENTIFICATION DETAILS

Name :	PARNIKA COMMERCIAL AND ESTATES PRIVATE LIMITED
Registered Office :	D-64, 6^th Floor, Himalaya House, 23 KG Marg, New Delhi – 110 001
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	01.11.1989
Com. Reg. No.:	55-038223
Capital Investment / Paid-up Capital :	Rs.45.000 millions
CIN No.: [Company Identification No.]	U74899DL1989PTC038223
Legal Form :	Private Limited Liability Company
Line of Business :	Real Estate Contractor
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 947000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having a fine track record. The financial position of the company is sound and healthy. Profit margin is good. Trade relations are reported as decent. Business is active. Payment terms are regular and as per commitment, 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

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 :	D-64, 6^th Floor, Himalaya House, 23 KG Marg, New Delhi – 110 001, India
Tel. No.:	Not Available
Mobile No.:	91-9811082205 (Mr. Gupta)
Fax No.:	Not Available
E-Mail :	scgaindia@gmail.com
Site Office :	AICTE Building, Vasant Kunj, JNU Campus, New Delhi – 110 070, India

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Rattan Lal Garg

Designation :

Director

Address :

58, Savita Vihar, Delhi – 110 092, India

Date of Birth/Age :

04.06.1936

Date of Appointment :

01.11.1989

DIN No.:

00198726

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	U74899DL1989PTC038223	PARNIKA COMMERCIAL AND ESTATES PRIVATE LIMITED	Director	01/11/1989	01/11/1989	-	Active	NO
2	U51909DL2004PTC123954	TAPAS IMPEX PRIVATE LIMITED	Director	08/01/2004	08/01/2004	-	Active	NO
3	U74899DL1993PTC055789	SETH HOTELS PRIVATE LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO

Name :

Mr. Pawan Kumar Gupta

Designation :

Managing Director

Address :

G-15, Preet Vihar, Delhi – 110 092, India

Date of Birth/Age :

27.10.1958

Qualification :

BE (Hons) Civil

Experience :

28 Years

Date of Appointment :

15.05.1992

DIN No.:

00208776

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	U74899DL1989PTC038223	PARNIKA COMMERCIAL AND ESTATES PRIVATE LIMITED	Managing director	15/05/1992	15/05/1992	-	Active	NO
2	U74899DL1995PTC074052	PARINITA TECHNICAL SERVICES PRIVATE LIMITED	Director	22/11/1995	22/11/1995	-	Active	NO
3	U51909DL2001PTC112798	KING OVERSEAS PRIVATE LIMITED	Director	17/10/2001	17/10/2001	27/12/2010	Active	NO
4	U51909DL2003PTC118598	SHRI SIDHI VINAYAK EXIMS PRIVATE LIMITED	Director	21/01/2003	21/01/2003	-	Active	NO
5	U99999DL2001PTC112008	DILIGENT INFORMATICS PRIVATE LIMITED	Director	28/01/2003	28/01/2003	-	Active	NO
6	U22219DL2000PTC107598	REMSONS OVERSEAS PRIVATE LIMITED	Director	28/01/2003	28/01/2003	-	Active	NO
7	U74899DL1995PTC074055	GARUD MANAGEMENT SERVICES PRIVATE LIMITED	Director	15/09/2003	15/09/2003	-	Active	NO
8	U51909DL2004PTC129090	HIRANYAGARBH COMMERCIAL AND TRADING PRIVATE LIMITED	Director	15/09/2004	15/09/2004	-	Active	NO
9	U51311DL2003PTC119803	TRIDEV IMPEX PRIVATE LIMITED	Director	15/02/2005	15/02/2005	02/07/2011	Active	NO
10	U51311DL2003PTC120297	RIT EXIM PRIVATE LIMITED	Director	15/02/2005	15/02/2005	-	Active	NO
11	U18101DL2001PTC111373	RARE GARMENTS PRIVATE LIMITED	Director	07/04/2005	07/04/2005	-	Active	NO
12	U74899DL2000PTC105014	P G INFOTECH PRIVATE LIMITED	Director	28/07/2005	28/07/2005	23/12/2009	Active	NO

Name :

Mrs. Anju Gupta

Designation :

Director

Address :

G-15, Preet Vihar, Delhi – 110 092, India

Date of Birth/Age :

09.09.1963

Date of Appointment :

19.10.2002

DIN No.:

00208785

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	U74899DL1995PTC074052	PARINITA TECHNICAL SERVICES PRIVATE LIMITED	Director	22/11/1995	22/11/1995	-	Active	NO
2	U74899DL1989PTC038223	PARNIKA COMMERCIAL AND ESTATES PRIVATE LIMITED	Director	19/10/2002	19/10/2002	-	Active	NO
3	U51909DL2003PTC118598	SHRI SIDHI VINAYAK EXIMS PRIVATE LIMITED	Director	21/01/2003	21/01/2003	-	Active	NO
4	U99999DL2001PTC112008	DILIGENT INFORMATICS PRIVATE LIMITED	Director	28/01/2003	28/01/2003	-	Active	NO
5	U22219DL2000PTC107598	REMSONS OVERSEAS PRIVATE LIMITED	Director	28/01/2003	28/01/2003	-	Active	NO
6	U51909DL2001PTC112798	KING OVERSEAS PRIVATE LIMITED	Director	19/04/2003	19/04/2003	27/12/2010	Active	NO
7	U51311DL2003PTC119803	TRIDEV IMPEX PRIVATE LIMITED	Director	12/05/2003	12/05/2003	02/07/2011	Active	NO
8	U74899DL1995PTC074055	GARUD MANAGEMENT SERVICES PRIVATE LIMITED	Director	15/09/2003	15/09/2003	-	Active	NO
9	U51909DL2004PTC129090	HIRANYAGARBH COMMERCIAL AND TRADING PRIVATE LIMITED	Director	15/09/2004	15/09/2004	-	Active	NO
10	U18101DL2001PTC111373	RARE GARMENTS PRIVATE LIMITED	Director	07/04/2005	07/04/2005	-	Active	NO
11	U51311DL2003PTC120297	RIT EXIM PRIVATE LIMITED	Director	15/06/2005	15/06/2005	-	Active	NO
12	U74899DL2000PTC105014	P G INFOTECH PRIVATE LIMITED	Director	28/07/2005	28/07/2005	26/12/2009	Active	NO

KEY EXECUTIVES

Name :	P. Balodia and Company
Designation :	Company Secretaries
Address :	A-53, First Floor, Gurunanak Pura, Laxmi Nagar, Delhi – 110 092, India
Tel. No.:	91-11-32534665/ 42486854
Mobile No.:	91-9717792134/ 35
E-Mail :	pbalodia@gmail.com

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
R.L. Garg	540
Darshan Garg	540
Anju Gupta	118800
Asha Garg	540
R.L. Garg HUF	540
P.K. Gupta	118800
Piyush Gupta	3380040
P.K. Gupta HUF	845100
Archna Goel	540
Seema Garg	540
Saumya Gupta	34020
Total	4500000

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :

Real Estate Contractor

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of Bikaner and Jaipur, D - 10, D - Block, Shopping Centre, Vivek Vihar, Delhi – 110 095, India

Facilities :

Secured Loan	As on 31.03.2012 (Rs. in Millions)	As on 31.03.2011 (Rs. in Millions)
SHORT TERM BORROWINGS
Cash Credit Cash Credit taken from State Bank of Bikaner and Jaipur is secured by way of :- - Hypothecation of stocks and collateral security through equitable mortgage created on immovable properties owned by the company and the directors of the company.	0.000	32.290
Total	0.000	32.290

Banking Relations :	--
Auditors :
Name :	Suresh C. Gupta and Associates Chartered Accountants
Address :	B-28/1, Wazirpur Industrial Area, Delhi – 110 052, India
PAN No:	AAPFS6422F
Other Related Parties (Company under same management) :	Garud Management Services Private Limited Parinita Technical Services Private Limited Diligent Informatics Private Limited King Overseas Private Limited

CAPITAL STRUCTURE

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4500000	Equity Shares	Rs.10/- each	Rs.45.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	45.000	45.000
(b) Reserves & Surplus	191.670	173.433
(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)	236.670	218.433
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) Long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.330	70.994
(b) Trade payables	28.964	20.665
(c) Other current liabilities	164.921	99.257
(d) Short-term provisions	5.230	5.247
Total Current Liabilities (4)	199.445	196.163
TOTAL	436.115	414.596
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	30.576	15.119
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.850	0.922
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	2.651	0.893
Total Non-Current Assets	34.077	16.934
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	302.948	293.932
(c) Trade receivables	1.510	4.099
(d) Cash and cash equivalents	15.516	19.101
(e) Short-term loans and advances	80.480	78.684
(f) Other current assets	1.584	1.846
Total Current Assets	402.038	397.662
TOTAL	436.115	414.596

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		45.000
2] Share Application Money		0.000
3] Reserves & Surplus		155.791
4] (Accumulated Losses)		0.000
NETWORTH		200.791
LOAN FUNDS
1] Secured Loans		44.294
2] Unsecured Loans		79.475
TOTAL BORROWING		123.769
DEFERRED TAX LIABILITIES		1.040
TOTAL		325.600
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		15.948
Capital work-in-progress		0.000
INVESTMENT		1.159
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	247.932
	Sundry Debtors	6.218
	Cash & Bank Balances	16.344
	Other Current Assets	0.000
	Loans & Advances	78.911
Total Current Assets		349.405
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	22.795
	Other Current Liabilities	12.652
	Provisions	5.465
Total Current Liabilities		40.912
Net Current Assets		308.493
MISCELLANEOUS EXPENSES		0.000
TOTAL		325.600

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	NA	483.763	653.561
		Other Income	NA
		TOTAL	NA	483.763	653.561
Less	EXPENSES
		Office Expenses	NA	450.535	625.198
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	450.535	625.198
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		39.219	33.228	28.363
Less/ Add	DEPRECIATION/ AMORTISATION		4.281	3.141	2.900
	PROFIT / (LOSS) BEFORE TAX		34.938	30.087	25.463
Less	TAX		NA	7.198	12.159
	PROFIT / (LOSS) AFTER TAX		NA	22.889	13.304
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		157.369	139.727	128.986
Add	Previous Year dividend not Approved		NA	--	2.632
Less	APPROPRIATIONS
		Proposed/ Interim Dividend	NA	4.500	4.500
		Tax on Dividend	NA	0.747	0.695
	BALANCE CARRIED TO THE B/S		NA	157.369	139.727
	Earnings / (Loss) Per Share (Rs.)		NA	5.09	2.96

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	4.73	2.04
Return on Total Assets (PBT/Total Assets}	(%)	8.03	7.27	6.97
Return on Investment (ROI) (PBT/Networth)		0.15	0.14	0.12
Debt Equity Ratio (Total Debt/Networth)		0.00	0.33	0.62
Current Ratio (Current Asset/Current Liability)		2.02	2.03	8.54

LOCAL AGENCY FURTHER INFORMATION

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 two 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	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

Unsecured Loan	As on 31.03.2012 (Rs. in Millions)	As on 31.03.2011 (Rs. in Millions)
SHORT TERM BORROWINGS
From related party	0.330	38.704
Total	0.330	38.704

Note:

The registered office of the company has been shifted from G-15, Preet Vihar, Delhi – 110 092 to the present address w.e.f. 21.06.2012.

CONTINGENT LIABILITIES:

Particulars	As on 31.03.2012 (Rs. in Millions)	As on 31.03.2011 (Rs. in Millions)
Bank Guarantees	313.612	336.215

FIXED ASSETS:

· Land and Building

· Plant and Machinery

· Furniture and Fixture

· Computers

· Vehicles

· Commercial Vehicles

· Land

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.61.05
UK Pound	1	Rs.90.89
Euro	1	Rs.78.27

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.