MIRA INFORM REPORT

Report Date :

02.03.2013

IDENTIFICATION DETAILS

Name :	EXOTICA HOUSING PRIVATE LIMITED (w.e.f. 28.09.2012)
Formerly Known As :	PANCHSHEEL EXOTICA HOUSING PRIVATE LIMITED
Registered Office :	228, Basement, Jagriti Enclave, Delhi-110092
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.06.2010
Com. Reg. No.:	55-204179
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U70101DL2010PTC204179
Legal Form :	Private Limited Liability Company
Line of Business :	Real Estate Developer
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 :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The management have failed to file its latest financial with the government department. As per previous year’s record the external borrowing appears to be huge. Business is active. Payments are 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.

LOCATIONS

Registered Office :	228, Basement, Jagriti Enclave, Delhi-110092, India
Tel. No.:	91-11-22152215 / 22162216
Fax No.:	91-11-22162215
E-Mail :	admin@vsda.in
Corporate Office	H-63, Sector 63, Noida, Uttar Pradesh, India
Tel. No.:	91-120-4915555
Site Office :	Plot No 5, Gautambudh Nagar, Noida-201301, Uttar Pradesh, India

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Dinesh Kumar Jain
Designation :	Director
Address :	B-278, Yojna Vihar, Delhi-110092, India
Date of Birth/Age :	30.03.1969
Date of Appointment :	16.06.2010
DIN No.:	00264691

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	U74899DL2001PTC109308	VARDHMAN BOX AND PRINTERS PRIVATE LIMITED	Director	22/01/2001	22/01/2001	11/02/2011	Active	NO
2	U45201DL2003PTC120303	DINESH BUILDCON PRIVATE LIMITED	Director	12/05/2003	12/05/2003	-	Active	NO
3	U45201DL2005PTC138912	EXOTICA HOUSING AND INFRASTRUCTURE COMPANY PRIVATE LIMITED	Director	20/07/2005	20/07/2005	-	Active	NO
4	U70101DL2010PTC204179	EXOTICA HOUSING PRIVATE LIMITED	Director	16/06/2010	16/06/2010	-	Active	NO
5	U70101DL2010PTC205253	EXOTICA HOUSING AND INFRASTRUCTURE PROJECTS PRIVATE LIMITED	Director	05/07/2010	05/07/2010	-	Active	NO
6	U18101DL2004PTC130664	GINMESH CLOTHING COMPANY PRIVATE LIMITED	Additional director	28/12/2010	28/12/2010	-	Active	NO
7	U70101DL2012PTC238217	EXOTICA REALTECH PRIVATE LIMITED	Director	28/06/2012	28/06/2012	-	Active	NO
8	U70109DL2012PTC238203	EXOTICA HOUSING AND PROJECTS PRIVATE LIMITED	Director	28/06/2012	28/06/2012	-	Active	NO
9	U55101DL2012PTC239064	EXOTICA HOTELS AND RESORTS PRIVATE LIMITED	Director	19/07/2012	19/07/2012	-	Active	NO
10	U92140DL2012PTC239122	EXOTICA ENTERTAINMENT PRIVATE LIMITED	Director	20/07/2012	20/07/2012	-	Active	NO
11	U72900DL2012PTC239118	EXOTICA INFOCOM PRIVATE LIMITED	Director	20/07/2012	20/07/2012	-	Active	NO
12	U67190DL2012PTC239285	EXOTICA FINVEST SERVICES PRIVATE LIMITED	Director	25/07/2012	25/07/2012	-	Active	NO
13	U72900DL2012PTC239426	EXOTICA INFOTAINMENT PRIVATE LIMITED	Director	27/07/2012	27/07/2012	-	Active	NO

Name :	Mr. Rakesh Kumar Jain
Designation :	Director
Address :	1/7752, East Gorakh Park, Gali No.1, Shahdara, Delhi-110032, India
Date of Birth/Age :	02.10.1957
Date of Appointment :	02.02.2011
DIN No.:	00459805

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	U36101DL2002PTC115571	SRIJAN WOOD CRAFTS PRIVATE LIMITED	Director	01/02/2005	01/02/2005	16/11/2007	Active	NO
2	U18101DL2004PTC130664	GINMESH CLOTHING COMPANY PRIVATE LIMITED	Director	28/12/2010	28/12/2010	-	Active	NO
3	U70101DL2010PTC204179	EXOTICA HOUSING PRIVATE LIMITED	Director	02/02/2011	02/02/2011	-	Active	NO
4	U70101DL2010PTC205253	EXOTICA HOUSING AND INFRASTRUCTURE PROJECTS PRIVATE LIMITED	Additional director	30/05/2011	30/05/2011	-	Active	NO
5	U70101DL2012PTC238217	EXOTICA REALTECH PRIVATE LIMITED	Director	28/06/2012	28/06/2012	-	Active	NO
6	U70109DL2012PTC238203	EXOTICA HOUSING AND PROJECTS PRIVATE LIMITED	Director	28/06/2012	28/06/2012	-	Active	NO
7	U55101DL2012PTC239064	EXOTICA HOTELS AND RESORTS PRIVATE LIMITED	Director	19/07/2012	19/07/2012	-	Active	NO
8	U92140DL2012PTC239122	EXOTICA ENTERTAINMENT PRIVATE LIMITED	Director	20/07/2012	20/07/2012	-	Active	NO
9	U72900DL2012PTC239118	EXOTICA INFOCOM PRIVATE LIMITED	Director	20/07/2012	20/07/2012	-	Active	NO
10	U67190DL2012PTC239285	EXOTICA FINVEST SERVICES PRIVATE LIMITED	Director	25/07/2012	25/07/2012	-	Active	NO
11	U72900DL2012PTC239426	EXOTICA INFOTAINMENT PRIVATE LIMITED	Director	27/07/2012	27/07/2012	-	Active	NO
12	U70101DL2012PTC244187	A2Z CONTRACTORS PRIVATE LIMITED	Director	30/10/2012	30/10/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Exotica Housing and Infrastructure Company Private Limited, India	8180
Supertech Limited, India	1820
TOTAL	10000

AS ON 30.09.2011

Equity Shares Break Up	Percentage of Holding
Bodies corporate	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Real Estate Developer

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	· HDFC Bank Limited, HDFC bank House, Senapati Bapat MArg, Lower Parel (West), Mumbai-400013, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Ramesh Kumar Rathi (Proprietor) R K Rathi and Company Chartered Accountant
Address :	84, 3^rd Floor Darya Ganj, Opposite Cambridge School, New Delhi-110002, India
Tel. No.:	91-11-46539501 / 46539502
Fax No.:	91-11-41636825
E-Mail :	office@goelgarggroup.com
PAN No.:	AADPR3783N
Holding Company :	Exotica Housing and Infrastructure Company Private Limited CIN No.:- U45201DL2005PTC138912

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.022
4] (Accumulated Losses)		0.000
NETWORTH		0.122
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		43.598
TOTAL BORROWING		43.598
DEFERRED TAX LIABILITIES		0.000
TOTAL		43.720
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.313
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	790.770
	Sundry Debtors	69.028
	Cash & Bank Balances	5.199
	Other Current Assets	0.000
	Loans & Advances	65.876
Total Current Assets		930.873
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.006
	Other Current Liabilities	887.450
	Provisions	0.010
Total Current Liabilities		890.466
Net Current Assets		40.407
MISCELLANEOUS EXPENSES		0.000
TOTAL		43.720

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	NA
		Other Income	NA
		TOTAL	NA
	EXPENSES
		TOTAL	NA
	PROFIT / (LOSS) BEFORE TAX		0.032
Less	TAX		0.010
	PROFIT / (LOSS) AFTER TAX		0.022
	Earnings Per Share (Rs.)		2.20

KEY RATIOS

PARTICULARS		31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	0.00
Return on Investment (ROI) (PBT/Networth)		0.26
Debt Equity Ratio (Total Debt /Networth)		357.36
Current Ratio (Current Asset/Current Liability)		1.05

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 one years	No
12]	Profitability for last one 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	No
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

FACILITIES

Unsecured Loan	Rs. In Millions 31.03.2011
Bank Overdraft	04.578
Exotica Housing and Infrastructure Company Private Limited (Holding Company)	39.020
TOTAL	43.598

OPERATING RESULTS

During the year, the profit and loss account shows the profit of Rs. 0.022 Million after making the provision tax of Rs. 0.010 Million.

FORM 8

Corporate identity number of the company	U70101DL2010PTC204179
Name of the company	PANCHSHEEL EXOTICA HOUSING PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	228, Basement, Jagriti Enclave, Delhi-110092, India
This form is for	Creation of charge
Type of charge	· Movable property (not being pledge)
Particular of charge holder	HDFC Bank Limited, HDFC bank House, Senapati Bapat MArg, Lower Parel (West), Mumbai-400013, Maharashtra, India
Nature of instrument creating charge	Agreement for Loan and Guarantee. (Contracts No.: 80290059)
Date of instrument Creating the charge	03.02.2012
Amount secured by the charge	Rs. 4.087 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest @ 11.75 % p.a. Terms of repayment The Loan is repayable in 29 EMIs of Rs.0.162 Million starting from 1st March, 2012 ending on 1st July, 2014. Margin As may be stipulated by bank from time to time. Extent and operation of the charge The Company hypothecates to and charges in favour of the Bank by way of first and exclusive charge of the Vehicle/ equipment described in Item No. 15 as security for the repayment/payment by the company of the loan granted or to be granted to the company by the Bank together with all fees, interest, costs and expenses incurred/to be incurred by the Bank and all other monies payable or to become payable by the company to the Bank. Other The Bank shall be absolutely entitled and have full power and authority to sell, assign or transfer in any manner, in whole or in part, and in such manner and on such terms as the Bank may decide, including reserving a right to the Bank to retain its power to proceed against the company on behalf of the purchaser, assignee or transferee, any or all outstanding dues of the company, to any third party of the Bank's choice without reference to or without written intimation to the company.
Short particulars of the property charged (Including location of the property)	Hypothecation of Equipments namely : ACE TOWER CRANE 5510 (Year Of Manufacture: 2012)

FIXED ASSETS

· OFFICE Equipments

· Computers and Accessories

· Furniture and Fixtures

· Motor Car

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. 54.48
UK Pound	1	Rs. 82.71
Euro	1	Rs. 72.27

INFORMATION DETAILS

Report Prepared by :

DPT

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	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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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.