MIRA INFORM REPORT

Report Date :

15.07.2013

IDENTIFICATION DETAILS

Name :	PRIME DÉCOR LAMINATE PRIVATE LIMITED (w.e.f.30.08.2010)
Formerly Known As :	BALANCE ESTAES PRIVATE LIMITED
Registered Office :	9/12, Block A, 3^rd Floor, Lal Bazar Street, Kolkata – 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	04.03.2008
Com. Reg. No.:	21-123515
Capital Investment / Paid-up Capital :	Rs. 2.933 Millions
CIN No.: [Company Identification No.]	U51909WB2008PTC123515
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer of all kinds of Laminates, Surface Laminates, Wood Laminates, Ply laminates, Surface Decoration Material, Laminated Products, Laminations, Decoration Materials of any make or of any Wood or Material, Foil Laminated and Foil.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 488000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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 :	9/12, Block A, 3^rd Floor, Lal Bazar Street, Kolkata – 700001, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	poonamcorp@yahoo.co.in sanjaypa.agarwal@yahoo.in
Branch Office :	78/C, The Dawn Building, 1^st Floor, 7^th Road, Golibar, Santacruz (West), Mumbai – 400055, Maharashtra, India
Tel. No.:	91-22-26135626/ 27/ 26125711
Fax No.:	91-22-26191817
E-Mail :	vardhmanjmc@yahoo.com
Warehouse :	MF 15/1-15/8, Gupta Warehousing, Bhiwandi, Maharashtra, India
Tel. No.:	91-22-26125711

DIRECTORS

AS ON 29.09.2012

Name :

Vardhaman Chhaganlal Shah

Designation :

Additional director

Address :

94/11, Urvashi Building, Sion (West), Mumbai – 400022, Maharashtra, India

Date of Birth/Age :

25.09.1961

Date of Appointment :

15.02.2011

DIN No.:

00334194

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	L24100MH1990PLC057190	INDO EURO INDCHEM LIMITED	Managing director	30/09/2008	11/07/1990	-	Active	NO
2	U28110MH2005PTC151536	JMC EXIM INDIA PRIVATE LIMITED	Director	15/07/2005	15/07/2005	-	Active	NO
3	U14101MH2006PLC160004	STONEMANN ROYALE LIMITED	Director	01/04/2007	01/04/2007	28/02/2008	Active	NO
4	U51109WB2007PTC113327	GADIA MERCANTILE PRIVATE LIMITED	Director	25/05/2009	25/05/2009	-	Active	NO
5	U52190MH2010PTC203461	JMC IMPEX INDIA PRIVATE LIMITED	Additional director	26/05/2010	26/05/2010	-	Active	NO
6	U51909WB2008PTC123515	PRIME DECOR LAMINATE PRIVATE LIMITED	Additional director	15/02/2011	15/02/2011	-	Active	NO
7	U45200MH2007PTC167558	JIC HYKON BUILDERS AND DEVELOPERS PRIVATE LIMITED	Additional director	04/06/2012	04/06/2012	-	Active	NO
8	U70100MH2012PTC235798	IBD JIC BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	17/09/2012	17/09/2012	-	Active	NO

Name :

Mr. Akshit Balwantrai Lakhani

Designation :

Additional director

Address :

B-18, Bhagneri Co-operative Housing Society, Deccan Causeway, Sion, Mumbai – 400022, Maharashtra, India

Date of Birth/Age :

24.11.1985

Date of Appointment :

15.02.2011

DIN No.:

00334241

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	U28110MH2005PTC151536	JMC EXIM INDIA PRIVATE LIMITED	Director	23/02/2005	23/02/2005	Active	NO
2	U51909MH2006PTC163279	SILIKON VYAPAR PRIVATE LIMITED	Director	31/03/2007	31/03/2007	Active	NO
3	U24232DL2006PTC154224	JMC HEALTHCARE PRIVATE LIMITED	Additional director	15/04/2008	15/04/2008	Active	NO
4	U51109WB2007PTC113327	GADIA MERCANTILE PRIVATE LIMITED	Director	25/05/2009	25/05/2009	Active	NO
5	U45200MH2007PTC167558	JIC HYKON BUILDERS AND DEVELOPERS PRIVATE LIMITED	Additional director	21/09/2010	26/05/2010	Active	NO
6	U52190MH2010PTC203461	JMC IMPEX INDIA PRIVATE LIMITED	Additional director	26/05/2010	26/05/2010	Active	NO
7	U51909WB2008PTC123515	PRIME DECOR LAMINATE PRIVATE LIMITED	Additional director	15/02/2011	15/02/2011	Active	NO
8	L24100MH1990PLC057190	INDO EURO INDCHEM LIMITED	Director	30/09/2011	01/03/2011	Active	NO
9	U70100MH2012PTC235798	IBD JIC BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	17/09/2012	17/09/2012	Active	NO
10	U33111MH2013PTC240228	TEELIV HEALTHCARE INDIA PRIVATE LIMITED	Director	06/02/2013	06/02/2013	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Gentle Tradecomm. Private Limited, India	150000
Flower Merchants Private Limited, India	120000
JMC Exim India Private Limited, India	12500
Silicon Vyapar Private Limited, India	10750
Total	293250

AS ON 13.03.2013

Names of Allottee	No. of Shares
Indo Euro Indchem Limited, India	10000
Total	10000

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Dealer of all kinds of Laminates, Surface Laminates, Wood Laminates, Ply laminates, Surface Decoration Material, Laminated Products, Laminations, Decoration Materials of any make or of any Wood or Material, Foil Laminated and Foil.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

ICICI Bank Limited, Mumbai, Maharashtra, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
SHORT TERM BORROWINGS
ICICI Bank [Secured against hypothecation of Fixed Deposit]	6.117	1.490
Total	6.117	1.490

Banking Relations :	--
Auditors :
Name :	Sanjay P Agarwal and Associates Chartered Accountants
Address :	4, Fairlie Place, Hmp House, Mezzanine Floor, Room No M29, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-40056801
Mobile No.:	91-9831525700
E-Mail :	sanjaypa.agarwal@yahoo.in
Income-tax PAN of auditor or auditor's firm :	ABVFS9010N
Associates :	¯ Parekh Overseas ¯ Vitrag Associates ¯ Innovative Creation ¯ Lamitech India

CAPITAL STRUCTURE

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
300,000	Equity Shares	Rs. 10/- each	Rs. 3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
303,250	Equity Shares	Rs. 10/- each	Rs. 3.033 Millions

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
300,000	Equity Shares	Rs. 10/- each	Rs. 3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
293,250	Equity Shares	Rs. 10/- each	Rs. 2.933 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	2.933	2.933
(b) Reserves & Surplus	119.151	112.616
(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)	122.084	115.549
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.002	0.002
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.002	0.002
(4) Current Liabilities
(a) Short term borrowings	6.117	1.490
(b) Trade payables	0.000	8.886
(c) Other current liabilities	0.796	0.039
(d) Short-term provisions	2.923	0.959
Total Current Liabilities (4)	9.836	11.374
TOTAL	131.922	126.925
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.014	0.024
(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	7.490
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	16.689	59.320
(e) Other Non-current assets	11.261	38.850
Total Non-Current Assets	27.964	105.684
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	33.310	5.769
(c) Trade receivables	66.683	13.917
(d) Cash and cash equivalents	0.618	0.589
(e) Short-term loans and advances	3.347	0.966
(f) Other current assets	0.000	0.000
Total Current Assets	103.958	21.241
TOTAL	131.922	126.925

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.933
2] Share Application Money		0.000
3] Reserves & Surplus		110.470
4] (Accumulated Losses)		0.000
NETWORTH		113.403
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		113.403
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		118.905
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.471
	Other Current Assets	0.000
	Loans & Advances	0.010
Total Current Assets		0.481
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.000
	Other Current Liabilities	0.009
	Provisions	0.001
Total Current Liabilities		6.010
Net Current Assets		(5.529)
MISCELLANEOUS EXPENSES		0.027
TOTAL		113.403

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Service Charges			0.000
		Interest Income			0.093
		TOTAL	123.244	19.532	0.093
Less	EXPENSES
		Audit Fees			0.003
		Compliance Certificate Fees			0.002
		Conveyance			0.019
		General Expenses			0.019
		Printing and Stationery			0.020
		Rates and Taxes			0.004
		Bank Charges			0.000
		Filling Fees			0.001
		Office Expenses			0.010
		Preliminary Expenses Written off			0.013
		TOTAL	113.787	16.426	0.091
	PROFIT BEFORE TAX		9.457	3.106	0.002
Less	TAX		2.922	0.960	0.002
	PROFIT AFTER TAX		6.535	2.146	0.001
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.149	0.003	0.002
	BALANCE CARRIED TO THE B/S		8.684	2.149	0.003
	Earnings Per Share (Rs.)		22.28	7.32	0.01

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	5.30	10.99	1.08
Net Profit Margin (PBT/Sales)	(%)	NA	NA	0.00
Return on Total Assets (PBT/Total Assets}	(%)	7.17	2.60	0.42
Return on Investment (ROI) (PBT/Networth)		0.08	0.03	0.00
Debt Equity Ratio (Total Debt/Networth)		0.05	0.01	0.00
Current Ratio (Current Asset/Current Liability)		10.57	1.87	0.08

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	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

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. 59.90
UK Pound	1	Rs. 90.88
Euro	1	Rs. 78.32

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.