1. Summary Information

		Country	India
Company Name	PREMIER MERCHANTS PRIVATE LIMITED	Principal Name 1	Mr. Ramesh Chandra Agarwal
Status	Moderate	Principal Name 2	Mr. Abhinav Agarwal
		Registration #	21-081082
Street Address	23, Jatin Das Road, Kolkata – 700029, West Bengal
Established Date	27.08.1996	SIC Code	--
Telephone#	Not Available	Business Style 1	Real Estate Business
Fax #	Not Available	Business Style 2	Trading
Homepage	--	Product Name 1	Mobile
# of employees	Not Available	Product Name 2	Home Appliances Goods
Paid up capital	Rs. 550,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors - 100%	Banking	ING Vysya Bank Limited
Public Limited Corp.	No	Business Period	17 Years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	B (36)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	82,692,000	Current Liabilities	31,133,000
Inventories	33,701,000	Long-term Liabilities	150,031,000
Fixed Assets	80,635,000	Other Liabilities	490,000
Deferred Assets	0,000	Total Liabilities	181,654,000
Invest& other Assets	7,379,000	Retained Earnings	22,203,000
		Net Worth	22,753,000
Total Assets	204,407,000	Total Liab. & Equity	204,407,000
Total Assets (Previous Year)	255,873,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales / Total Income	N.A.	Net Profit	698,000
Sales(Previous yr)	765,285,000	Net Profit(Prev.yr)	3,830,000

MIRA INFORM REPORT

Report Date :

08.06.2013

IDENTIFICATION DETAILS

Name :	PREMIER MERCHANTS PRIVATE LIMITED
Registered Office :	23, Jatin Das Road, Kolkata – 700029, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	27.08.1996
Com. Reg. No.:	21-081082
Capital Investment / Paid-up Capital :	Rs. 0.550 Million
CIN No.: [Company Identification No.]	U70109WB1996PTC081082
TAN No.: [Tax Deduction & Collection Account No.]	CALP04494A
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of mobile, home appliances goods and providing business premises on rent.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (36)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 91000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The external borrowing appears to be huge which act as threat to the liquidity position. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct The company can be considered for business dealings with some caution.

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 :	23, Jatin Das Road, Kolkata – 700029, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	natwar@premiergroup.in
Group Headquarter :	13, Satyen Dutta Road, Kolkata–700029, West Bengal, India
Tel. No.:	91-33-24648668
Fax No.:	91-33-24648670

DIRECTORS

AS ON 30.09.2012

Name :

Mr. Ramesh Chandra Agarwal

Designation :

Director

Address :

13, Satyen Dutta Road, Kolkata - 700029, West Bengal, India

Date of Birth/Age :

22.03.1961

Date of Appointment :

27.08.1996

Voter ID No.:

WB/23/149/369457

DIN No.:

01173052

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	U70109WB1996PTC081082	PREMIER MERCHANTS PRIVATE LIMITED	Director	27/08/1996	27/08/1996	-	Active	NO
2	U45201WB1997PTC084613	PREMIER NIRMAN PRIVATE LIMITED	Director	11/06/1997	11/06/1997	-	Active	NO
3	U70200WB1991PTC052190	ARCHANA CONSTRUCTION PRIVATE LIMITED	Director	30/03/1999	30/03/1999	-	Active	NO
4	U51109WB1995PTC076118	ANKLESH FINANCIAL CONSULTANTS PRIVATE LIMITED	Director	26/03/2009	26/03/2009	-	Active	NO
5	U51900WB2000PTC092217	PROGRESSIVE DEALTRADE PRIVATE LIMITED	Director	05/12/2009	05/12/2009	04/03/2013	Active	NO
6	U51909WB2009PTC138324	CHETANA JEWELS PRIVATE LIMITED	Director	15/04/2010	15/04/2010	-	Active	NO
7	U50102WB2010PTC152096	PREMIER CARWORLD PRIVATE LIMITED	Director	09/08/2010	09/08/2010	-	Active	NO

Name :

Mr. Abhinav Agarwal

Designation :

Director

Address :

13, Satyen Dutta Road, Kolkata - 700029, West Bengal, India

Date of Appointment :

01.05.2010

DIN No.:

01029589

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	U67110WB2007PTC113096	SUVRIDHI BRO COMM PRIVATE LIMITED	Director	05/02/2007	05/02/2007	Active	NO
2	U70109WB1996PTC081082	PREMIER MERCHANTS PRIVATE LIMITED	Director	01/05/2010	01/05/2010	Active	NO
3	U45201WB1997PTC084613	PREMIER NIRMAN PRIVATE LIMITED	Director	01/09/2010	01/09/2010	Active	NO
4	U70200WB1991PTC052190	ARCHANA CONSTRUCTION PRIVATE LIMITED	Director	01/09/2010	01/09/2010	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2012

Names of Shareholders	No. of Shares
Ramesh Chandra Agarwal	10000
Madan Lal Agarwal	10000
Abhishek Agarwal	10000
Abhinav Agarwal	10000
Ankita Agarwal	10000
Archana Construction Private Limited, India	5000
Total	55000

AS ON 30.09.2012

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

BUSINESS DETAILS

Line of Business :

Trading of mobile, home appliances goods and providing business premises on rent.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Ø ING Vysya Bank Limited

Ø Kotak Mahindra Bank Limited

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
ING Vysya Bank Limited (Cash Credit Account) (Secured by hypothecation of book debts and stocks)	0.000	33.016
L & T Finance Limited (Secured by pledge of debentures )	2.275	2.275
Term Loan from Kotak Mahindra Bank (Term Loans is secured by exclusive and specific charge on the assets and Personal Guarantee of directors and the loan repayable in 60 monthly instalment commencing from 10th April 2011.Last instalment due in May,2016. Rate of interest 11.50% p.a. as at year end. (Previous year 11.50% p.a.)	17.197	20.136
Kotak Mahindra Bank Limited (Cash Credit Account) (Secured by equitable mortgage of immovable property)	32.160	0.000
Total	51.632	55.427

Banking Relations :	--
Financial Institutions :	Ø Bajaj Finance Limited, Akurdi Pune - 411035, Maharashtra, India Ø Kotak Mahindra Prime Limited, 36-38A Nariman Bhavan, 227, Nariman Point, Mumbai - 400021, Maharashtra, India
Auditors :
Name :	Girdhari Sharma and Company Chartered Accountants
Address :	62, Bentick Street, Kolkata – 700069, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	AAEFG5540K

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs. 10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
55,000	Equity Shares	Rs. 10/- each	Rs. 0.550 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.550	0.550	0.550
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		22.203	21.415	17.585
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		22.753	21.965	18.135
LOAN FUNDS
1] Secured Loans		51.632	55.427	10.322
2] Unsecured Loans		98.399	58.716	21.893
TOTAL BORROWING		150.031	114.143	32.215
DEFERRED TAX LIABILITIES		0.034	0.079	0.105
TOTAL		172.818	136.187	50.455
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		80.635	21.044	10.556
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		7.379	8.192	6.841
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	33.701	103.483	15.965
	Sundry Debtors	12.962	35.038	11.482
	Cash & Bank Balances	5.167	3.827	0.708
	Other Current Assets	14.298	0.553	0.553
	Loans & Advances	50.265	83.684	22.140
Total Current Assets		116.393	226.585	50.848
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	19.178	107.898	11.904
	Other Current Liabilities	11.955	9.909	2.730
	Provisions	0.456	1.879	3.234
Total Current Liabilities		31.589	119.686	17.868
Net Current Assets		84.804	106.899	32.980
MISCELLANEOUS EXPENSES		0.000	0.052	0.078
TOTAL		172.818	136.187	50.455

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income			1050.973
		Other Income			65.121
		TOTAL	N.A.	765.285	1116.094
Less	EXPENSES
		Cost of Goods Sold			1031.468
		Administrative Expenses		759.602	12.879
		Selling and Distribution Expenses			55.101
		Payment Employees			3.568
		TOTAL	N.A.	759.602 [Including Financial Charges and Depreciation]	1103.016
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION				13.078
Less	FINANCIAL EXPENSES				4.960
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION				8.118
Less/ Add	DEPRECIATION/ AMORTISATION				0.997
	PROFIT / (LOSS) BEFORE TAX		1.199	5.683	7.113
Less	TAX		0.501	1.853	2.427
	PROFIT / (LOSS) AFTER TAX		0.698	3.830	4.686
	Earnings / (Loss) Per Share (Rs.)		12.69	69.64	8.52

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	N.A.	0.50	0.42
Net Profit Margin (PBT/Sales)	(%)	N.A.	N.A.	0.68
Return on Total Assets (PBT/Total Assets}	(%)	0.61	2.29	11.58
Return on Investment (ROI) (PBT/Networth)		0.05	0.26	0.39
Debt Equity Ratio (Total Debt/Networth)		6.59	5.20	1.78
Current Ratio (Current Asset/Current Liability)		3.68	1.89	2.85

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 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	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	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	Yes
34]	External Agency Rating, if available	No

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
From related parties:
Ramesh Chandra Agarwal	7.648	--
Premier Marketing	23.802	--
Madan Lal Agarwal	0.240	--
Premier Carworld Private Limited	9.075	--
From others:	57.634	--
From Body Corporate	--	42.136
From Directors/Relatives	--	16.580
Total	98.399	58.716

CORPORATE INFORMATION

Subject is a private company domiciled in India and incorporated under the provisions of the companies Act, 1956. Its shares are not listed on any Stock Exchange in India. The company is engaged in Trading of mobile, home appliances goods and providing business premises on rent.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U70109WB1996PTC081082
Name of the company	PREMIER MERCHANTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	23, Jatin Das Road, Kolkata – 700029, West Bengal, India Email: natwar@premiergroup.in
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	Bajaj Finance Limited, Akurdi Pune - 411035, Maharashtra, India Email: anant.damle@bajajfinserv.in CIN No.:L65910MH1987PLC042961
Nature of description of the instrument creating or modifying the charge	Equitable mortgage Loan Agreement dated 29th December 2012
Date of instrument Creating the charge	29.12.2012
Amount secured by the charge	Rs. 18.190 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 12.60% floating Terms of Repayment 180 equated Monthly Installment of Rs.225381 Margin 7.15% (19.75% - 7.15%= 12.60%) Extent and Operation of the charge First and Exclusive Charge over the mortgaged property to secure loan amount along with all other dues payable by borrowers. the loan shall in all circumstances rank superior to any subsequent mortgage/Charge on the mortgaged property.
Short particulars of the property charged	Basement, Prithvi Plaza, 92F, B.T Road, P.S-Khardah, Kolkata-700058, Panihati Municipality, having area of 21904 sq.ft.

FIXED ASSETS:

Ø Land at Bombay Road

Ø Office Flat

Ø Flat at Uttarpara

Ø Warehouse

Ø Air Condition

Ø EPABX

Ø Fax Machine

Ø Water Pump

Ø Furniture Fixture and Decoration

Ø Computer and Accessories

Ø Generator

Ø Motor Bike

Ø Motor Car

Ø Office Equipment.

Ø Land and Building

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. 56.74
UK Pound	1	Rs. 88.53
Euro	1	Rs. 75.20

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		36

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.