MIRA INFORM REPORT

Report Date :

11.06.2013

IDENTIFICATION DETAILS

Name :	SAHARA HOSPITALITY LIMITED

Registered Office :	Hotel Sahara Star, Opposite Domestic Airport, Vile Parle (East), Mumbai-400099, Maharashtra

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	26.09.1989

Com. Reg. No.:	11-140211

Capital Investment / Paid-up Capital :	Rs.571.120 Millions

CIN No.: [Company Identification No.]	U55101MH1989PLC140211

TAN No.: [Tax Deduction & Collection Account No.]	MUMS30343F

PAN No.: [Permanent Account No.]	AABCB7619L

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Providing Hospitality Services.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (19)

RATING

STATUS

PROPOSED CREDIT LINE

11-25

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 and delayed

Litigation :	Clear

Comments :	Subject belongs to the “Sahara Group”. It is an established company having a moderate track record. The group is facing severe financial crisis and also facing various charges of payment defaults. However, the subject has achieved some profits from its operations which have sharply declined during 2012 over its previous year. Business is active. Payment terms are slow and delayed. The company can be considered for business dealings only 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 – March 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

India

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	BBB [Long Term Bank Facilities]
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	October 2012

Rating Agency Name	CARE
Rating	A3 [Short Term Bank Facilities]
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	October 2012

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 :	Hotel Sahara Star, Opposite Domestic Airport, Vile Parle (East), Mumbai-400099, Maharashtra, India
Tel. No.:	91-22-39895000
Fax No.:	91-22-39895001
E-Mail :	ashu.sood@saharastar.com saharastrar@vsnl.net
Website :	http://www.saharastar.com

DIRECTORS

AS ON 27.09.2012

Name :

Mr. Subrata Roy Sahara

Designation :

Director

Address :

Sahara Sahar, Vipul Khand, Gomti Nagar, Lucknow-226010, Uttar Pradesh, India

Date of Birth/Age :

10.06.1948

Date of Appointment :

10.10.2002

Din No.:

00431905

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	U67120UP1987PLC008909	SAHARA INDIA FINANCIAL CORPORATION LIMITED	Managing director	23/07/2010	07/08/1987	-	Active	NO
2	U62100MH1991PLC177728	JET LITE (INDIA) LIMITED	Director	20/09/1991	20/09/1991	20/04/2007	Active	NO
3	U85320WB1995NPL072099	SAHARA WELFARE FOUNDATION	Director	12/06/1995	12/06/1995	-	Active	NO
4	U70109WB1992PLC053999	SAHARA INDIA COMMERCIAL CORPORATION LIMITED	Director	20/07/1995	20/07/1995	-	Active	NO
5	U74899DL1980PTC010607	SAIN PROCESSING AND WEAVING MILLS PRIVATE LIMITED	Director	25/11/1995	25/11/1995	-	Active	NO
6	U85110MH1997PLC109186	SAHARA INDIA MEDICAL INSTITUTE LIMITED	Director	03/07/1997	03/07/1997	-	Active	NO
7	L67120MH1981PLC024947	SAHARA ONE MEDIA AND ENTERTAINMENT LIMITED	Director	10/03/2000	10/03/2000	-	Active	NO
8	U65999UP2000PLC025635	SAHARA INDIA LIFE INSURANCE COMPANY LIMITED	Director	13/09/2000	13/09/2000	-	Active	NO
9	U72900MH2001PLC132951	SAHARA NET CORP LIMITED	Director	02/08/2001	02/08/2001	14/02/2011	Active	NO
10	L45400WB1983PLC035664	SAHARA INFRASTRUCTURE AND HOUSING LIMITED	Director	01/09/2001	01/09/2001	14/02/2011	Active	NO
11	U40101PN2001PLC016565	SAHARA INDIA POWER CORPORATION LIMITED	Director	14/12/2001	14/12/2001	26/12/2011	Active	NO
12	L18100WB1991PLC099782	SAHARA HOUSINGFINA CORPORATION LIMITED	Director	24/08/2002	24/08/2002	17/06/2011	Active	NO
13	U65110UP2002PLC026986	SAHARA CARE LIMITED	Director	09/10/2002	09/10/2002	20/02/2011	Active	NO
14	U55101MH1989PLC140211	TALITY LIMITED	Director	10/10/2002	10/10/2002	-	Active	NO
15	U63040WB2003PLC096524	SAHARA INDIA TOURISM DEVELOPMENT CORPORATION LIMITED	Director	04/07/2003	04/07/2003	31/03/2008	Active	NO
16	U65991MH1995PTC155207	SAHARA ASSET MANAGEMENT COMPANY PRIVATE LIMITED	Nominee director	23/03/2004	23/03/2004	-	Active	NO
17	U45201UP2005PTC030827	ERIC CITY HOMES DEVELOPMENT PRIVATE LIMITED	Director	22/09/2007	22/09/2007	-	Active	NO
18	U45400WB2007PTC119271	SAHARA OCEANIA PROPERTY PRIVATE LIMITED	Director	05/10/2007	05/10/2007	21/03/2008	Active	NO
19	U45400WB2007PTC119270	SAHARA MILESTONES INFRASTRUCTURE PRIVATE LIMITED	Director	05/10/2007	05/10/2007	01/02/2008	Active	NO
20	U45400WB2007PTC119268	SAHARA MILESTONES ESTATES PRIVATE LIMITED	Director	05/10/2007	05/10/2007	21/03/2008	Active	NO

Name :

Mr. Om Prakash Srivastava

Designation :

Director

Address :

A-706, Sector C, Mahanagar, Lucknow-226006, Uttar Pradesh, India

Date of Birth/Age :

27.06.1955

Date of Appointment :

10.10.2002

Din No.:

00144000

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	U67120UP1987PLC008909	SAHARA INDIA FINANCIAL CORPORATION LIMITED	Whole-time director	01/11/2011	07/08/1987	-	Active	NO
2	U62100MH1991PLC177728	JET LITE (INDIA) LIMITED	Director	20/09/1991	20/09/1991	20/04/2007	Active	NO
3	U65921UP1993PLC015170	SAHARA PRIME CITY LIMITED	Director	09/03/1993	09/03/1993	-	Active	NO
4	U85320WB1995NPL072099	SAHARA WELFARE FOUNDATION	Director	12/06/1995	12/06/1995	-	Active	NO
5	U70109WB1992PLC053999	SAHARA INDIA COMMERCIAL CORPORATION LIMITED	Director	30/09/2006	20/07/1995	-	Active	NO
6	U74899DL1980PTC010607	SAIN PROCESSING AND WEAVING MILLS PRIVATE LIMITED	Director	25/11/1995	25/11/1995	-	Active	NO
7	U85110MH1997PLC109186	SAHARA INDIA MEDICAL INSTITUTE LIMITED	Director	03/07/1997	03/07/1997	-	Active	NO
8	L67120MH1981PLC024947	SAHARA ONE MEDIA AND ENTERTAINMENT LIMITED	Director	10/03/2000	10/03/2000	-	Active	NO
9	U65999UP2000PLC025635	SAHARA INDIA LIFE INSURANCE COMPANY LIMITED	Director	13/09/2000	13/09/2000	-	Active	NO
10	U72900MH2001PLC132951	SAHARA NET CORP LIMITED	Director	02/08/2001	02/08/2001	14/02/2011	Active	NO
11	L45400WB1983PLC035664	SAHARA INFRASTRUCTURE AND HOUSING LIMITED	Director	01/09/2001	01/09/2001	14/02/2011	Active	NO
12	U40101PN2001PLC016565	SAHARA INDIA POWER CORPORATION LIMITED	Director	14/12/2001	14/12/2001	-	Active	NO
13	L18100WB1991PLC099782	SAHARA HOUSINGFINA CORPORATION LIMITED	Director	24/08/2002	24/08/2002	-	Active	NO
14	U65110UP2002PLC026986	SAHARA CARE LIMITED	Director	09/10/2002	09/10/2002	20/02/2011	Active	NO
15	U55101MH1989PLC140211	TALITY LIMITED	Director	10/10/2002	10/10/2002	-	Active	NO
16	U65991MH1995PTC155207	SAHARA ASSET MANAGEMENT COMPANY PRIVATE LIMITED	Director	31/05/2004	31/05/2004	-	Active	NO
17	U45201UP2005PTC030827	ERIC CITY HOMES DEVELOPMENT PRIVATE LIMITED	Director	22/09/2007	22/09/2007	-	Active	NO
18	U45400WB2007PTC119271	SAHARA OCEANIA PROPERTY PRIVATE LIMITED	Director	05/10/2007	05/10/2007	21/03/2008	Active	NO
19	U45400WB2007PTC119270	SAHARA MILESTONES INFRASTRUCTURE PRIVATE LIMITED	Director	05/10/2007	05/10/2007	01/02/2008	Active	NO
20	U45400WB2007PTC119268	SAHARA MILESTONES ESTATES PRIVATE LIMITED	Director	05/10/2007	05/10/2007	21/03/2008	Active	NO

Name :

Mr. Joy Broto Roy

Designation :

Director

Address :

F-170/a, Sainik Farm, New Delhi-110068, India

Date of Birth/Age :

12.01.1961

Date of Appointment :

10.10.2002

Din No.:

00432043

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	U67120UP1987PLC008909	SAHARA INDIA FINANCIAL CORPORATION LIMITED	Director	07/08/1987	07/08/1987	21/04/2010	Active	NO
2	U62100MH1991PLC177728	JET LITE (INDIA) LIMITED	Director	20/09/1991	20/09/1991	20/04/2007	Active	NO
3	U65921UP1993PLC015170	SAHARA PRIME CITY LIMITED	Director	09/03/1993	09/03/1993	-	Active	NO
4	U85320WB1995NPL072099	SAHARA WELFARE FOUNDATION	Director	12/06/1995	12/06/1995	-	Active	NO
5	U70109WB1992PLC053999	SAHARA INDIA COMMERCIAL CORPORATION LIMITED	Director	20/07/1995	20/07/1995	-	Active	NO
6	U85110MH1997PLC109186	SAHARA INDIA MEDICAL INSTITUTE LIMITED	Director	03/07/1997	03/07/1997	-	Active	NO
7	L67120MH1981PLC024947	SAHARA ONE MEDIA AND ENTERTAINMENT LIMITED	Director	10/03/2000	10/03/2000	24/03/2010	Active	NO
8	U24117MH2001PTC130717	SAHARA GLOBAL VISION PRIVATE LIMITED	Director	05/02/2001	05/02/2001	-	Active	NO
9	U72900MH2001PLC132951	SAHARA NET CORP LIMITED	Director	02/08/2001	02/08/2001	-	Active	NO
10	L45400WB1983PLC035664	SAHARA INFRASTRUCTURE AND HOUSING LIMITED	Managing director	01/02/2012	01/09/2001	-	Active	NO
11	U40101PN2001PLC016565	SAHARA INDIA POWER CORPORATION LIMITED	Director	14/12/2001	14/12/2001	-	Active	NO
12	L18100WB1991PLC099782	SAHARA HOUSINGFINA CORPORATION LIMITED	Director	24/08/2002	24/08/2002	-	Active	NO
13	U65110UP2002PLC026986	SAHARA CARE LIMITED	Director	09/10/2002	09/10/2002	20/02/2011	Active	NO
14	U55101MH1989PLC140211	TALITY LIMITED	Director	10/10/2002	10/10/2002	-	Active	NO
15	U92190MH2008PTC178656	GOLDEN LINE STUDIOS PRIVATE LIMITED	Director	06/08/2009	11/12/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vivek Kumar
Designation :	Manager
Address :	GM Residence, Hotel Sahara Star, Mumbai Airport, Santacruz (East), Mumbai-400099, Maharashtra, India
Date of Birth/Age :	20.06.1970
Date of Appointment :	10.10.2008
Pan No.:	ALEPK2091C

Name :	Ashu Chandraprakash Sood
Designation :	Secretary
Address :	9, Uma Kunj, 110, Model Town, Four Bunglow, Andheri (West), Mumbai-400053, Maharashtra, India
Date of Birth/Age :	18.05.1961
Date of Appointment :	10.09.2002
Pan No.:	ABFPS0419P

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2012

Names of Shareholders		No. of Shares
Sahara Prime City Limited, India		57112041
Subrata Roy Sahara		1
Swapna Roy		1
Om Prakash Srivastava		1
Joy Broto Roy		1
Sushanto Roy		1
Seemanto Roy		1

TOTAL		57112047

AS ON 27.09.2012

Equity Share Breakup		Percentage of Holding
Category
Bodies corporate		100.00

BUSINESS DETAILS

Line of Business :

Providing Hospitality Services.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Union Bank of India, Industrial Finance Branch, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Long Term Borrowings
Term loans from banks	3459.461	2081.276
TOTAL	3459.461	2081.276

Short Term Borrowings
Working capital loans from banks	53.845	13.040
TOTAL	53.845	13.040


Banking Relations :	--

Auditors :
Name :	Narkar and Associates Chartered Accountants
Address :	216, T. V. Industrial Estate, Off Annie Besant Road, Worli, Mumbai-400025, Maharashtra, India
Tel No.:	91-22-24974899/ 66661336
Fax No.:	91-22-24932290
PAN No:	AAAPN4055A

Holding Company :	Sahara Prime City Limited [U65921UP1993PLC015170]

Other Related Parties :	Sahara India Commercial Corporation Limited [U70109WB1992PLC053999] Sahara India Financial Corporation Limited] [U67120UP1987PLC008909] Aamby Valley Limited [U45200MH2006PLC160730] Sahara India Sahara One Media and Entertainment Limited [L67120MH1981PLC024947] Sahara India Life Insurance Company Limited [U65999UP2000PLC025635] Sahara Global Design Studio Limited [U74120MH2011PLC214273] Sahara Asset Management Company Private Limited [U65991MH1995PTC155207] Sahara India Power Corporation Limited [U40101PN2001PLC016565] Sahara Infrastructure And Housing Limited [L45400WB1983PLC035664] Sahara Adventure Sports Limited [U92412MH2007PLC169322] Sahara Service Limited [U74999UP2006PLC031539] Sahara Net Corp Limited [U72900MH2001PLC132951] Sahara Ind Capsac Limited [U93030MH2011PLC225576] Sahara India Limited [U65910UP1984PLC006646]

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
130000000	Equity Shares	Rs.10/- each	Rs.1300.000 Millions
160000000	Preferences Shares	Rs.10/- each	Rs.1600.000 Millions
	TOTAL		Rs.2900.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
57112047	Equity Shares	Rs.10/- each	Rs.571.120 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	571.120	571.120
(b) Reserves & Surplus	2835.915	2776.926
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000

(3) Non-current liabilities
(a) Long-term borrowings	3459.461	2081.276
(b) Deferred tax liabilities (Net)	119.488	84.253
(c) Other long term liabilities	0.000	0.000
(d) Long-term provisions	18.039	0.682

(4) Current liabilities
(a) Short term borrowings	53.845	13.040
(b) Trade payables	71.553	74.000
(c) Other current liabilities	644.354	408.085
(d) Short-term provisions	0.372	0.464
TOTAL	7774.147	6009.846

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3280.140	3381.992
(ii) Intangible Assets	7.546	9.593
(iii) Capital work-in-progress	3498.127	1689.830
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	141.602	181.562
(d) Long-term Loan and Advances	424.532	418.173
(e) Other Non-current assets	16.555	22.323

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	127.410	116.073
(c) Trade receivables	68.505	59.250
(d) Cash and cash equivalents	182.522	107.273
(e) Short-term loans and advances	26.409	22.902
(f) Other current assets	0.799	0.875
TOTAL	7774.147	6009.846

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2876.377
2] Share Application Money		265.000
3] Reserves & Surplus		442.443
4] (Accumulated Losses)		(352.746)
NETWORTH		3231.074
LOAN FUNDS
1] Secured Loans		1473.150
2] Unsecured Loans		51.300
TOTAL BORROWING		1524.450
DEFERRED TAX LIABILITIES		0.000

TOTAL		4755.524

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		3508.232
Capital work-in-progress		986.053

INVESTMENT		0.000
DEFERREX TAX ASSETS		231.305

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	106.407
	Sundry Debtors	63.299
	Cash & Bank Balances	44.551
	Other Current Assets	0.000
	Loans & Advances	86.384
Total Current Assets		300.641
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	143.750
	Other Current Liabilities	126.155
	Provisions	0.802
Total Current Liabilities		270.707
Net Current Assets		29.934

MISCELLANEOUS EXPENSES		0.000

TOTAL		4755.524

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1519.915	1427.106	1183.567
		Other Income	7.254	5.693	6.207
		TOTAL (A)	1527.169	1432.799	1189.774

Less	EXPENSES
		Cost of materials consumed	590.847	504.023	788.803
		Employee benefit expense	80.189	79.198
		Other expenses	471.160	408.264
		TOTAL (B)	1142.196	991.485	788.803

Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		384.973	441.314	400.971

Less	FINANCIAL EXPENSES (D)		130.285	138.413	166.413

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		254.688	302.901	234.558

Less/ Add	DEPRECIATION/ AMORTISATION (F)		138.503	136.188	131.980

	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		116.185	166.713	102.578

Less	TAX (H)		57.196	49.742	34.911

	PROFIT / (LOSS) AFTER TAX (G-H) (I)		58.989	116.971	67.667

	EARNINGS IN FOREIGN CURRENCY		173.548	199.450	186.990

	Earnings / (Loss) Per Share (Rs.)		1.03	2.10	0.23

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.86	8.16	5.69

Net Profit Margin (PBT/Sales)	(%)	7.64	11.68	8.67

Return on Total Assets (PBT/Total Assets}	(%)	2.81	4.03	2.69

Return on Investment (ROI) (PBT/Networth)		0.03	0.05	0.03

Debt Equity Ratio (Total Debt/Networth)		1.03	0.62	0.47

Current Ratio (Current Asset/Current Liability)		0.53	0.62	1.11

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]	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	Yes

NOTE:

The registered office of the company has been shifted from Sahara India Point, CTS 40 and 44, S.V. Road, Goregoan (West) Mumbai-400104, Maharashtra, India to the present address w.e.f.09.08.2010.

BUSINESS OVERVIEW:

The revenue for the financial year ended on March 31, 2012 stood at Rs. 1527.169 Millions, as compared to Rs. 1432.799 Millions for the financial year ended March 31, 2011, representing a marginal growth of 6.59%.

Since the construction work of Phase II Project is in progress, many rooms, Banquet Halls and F & B outlets of the Hotel were not available for business thereby resulting a decrease in profit for the Financial Year 2011-12. The Profit before tax stood at Rs. 116.185 Millions as compared to Rs. 166.713 Millions in the previous year. The Company has provided Rs. 57.196 Millions for Taxes and earned a Net profit after tax of Rs. 58.989 Millions as against a Net Profit after tax of Rs. 116.971 Millions in the previous year.

The Company continued to lay great importance on the development of its Human Resources. The Company is striving to build up high quality organizational culture through improvement of Human Values and work systems.

FIXED ASSETS:

Building
Computer
Furniture and Fixtures
Plant and Machinery
Ownership Flats
Vehicles

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.57.78
UK Pound	1	Rs.89.71
Euro	1	Rs.76.24

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		19

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.

MIRA INFORM REPORT

3.86

7.64

2.81

0.03

1.03

0.53

Unit