1. Summary Information

		Country	India
Company Name	GIRIAS INVESTMENT PRIVATE LIMITED	Principal Name 1	Mr. Pannalal Giria
Status	Good	Principal Name 2	Mr. Kanhailal Giria
		Registration #	08-025042
Street Address	No. 47, 3^rd Floor, 3^rd Main, 15^th Cross, Margosa Road, Malleshwaram, Bangalore - 560003, Karnataka
Established Date	08.04.1999	SIC Code	--
Telephone#	Not Available	Business Style 1	Dealer
Fax #	Not Available	Business Style 2	--
Homepage	Not Available	Product Name 1	Electronic Goods
# of employees	Not Available	Product Name 2	Home Appliances
Paid up capital	Rs. 44,887,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors 100.00%	Banking	HDFC Bank Limited
Public Limited Corp.	No	Business Period	14 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (53)
Related Company
Relation	Country	Company Name	CEO
Subsidiary	India	Uttaranchal Tea Company Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	357,728,000	Current Liabilities	164,282,000
Inventories	263,403,000	Long-term Liabilities	335,651,000
Fixed Assets	489,603,000	Other Liabilities	61,150,000
Deferred Assets	0,000	Total Liabilities	561,083,000
Invest& other Assets	11,463,000	Retained Earnings	516,227,000
		Net Worth	561,114,000
Total Assets	1,122,197,000	Total Liab. & Equity	1,122,197,000
Total Assets (Previous Year)	938,588,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	NA	Net Profit	99,376,000
Sales(Previous yr)	NA	Net Profit(Prev.yr)	75,908,000

MIRA INFORM REPORT

Report Date :

28.03.2013

IDENTIFICATION DETAILS

Name :	GIRIAS INVESTMENT PRIVATE LIMITED
Registered Office :	No. 47, 3^rd Floor, 3^rd Main, 15^th Cross, Margosa Road, Malleshwaram, Bangalore - 560003, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.04.1999
Com. Reg. No.:	08-025042
Capital Investment / Paid-up Capital :	Rs. 44.887 Millions
CIN No.: [Company Identification No.]	U51395KA1999PTC025042
TAN No.: [Tax Deduction & Collection Account No.]	BLRG00914E
PAN No.: [Permanent Account No.]	AABCG3246Q
Legal Form :	Private Limited Liability Company
Line of Business :	Dealers in Electrical and Electronics Goods and Home Appliances of Numerous Types.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 2240000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track record. Financial position of the company is good. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual 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 :	No. 47, 3^rd Floor, 3^rd Main, 15^th Cross, Margosa Road, Malleshwaram, Bangalore - 560003, Karnataka, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	mcravi@vsnl.com
Branch Office :	Ø Rajaji Nagar, Next to National Public School, Bangalore, Karnataka, India Ø Brigade Road, 138, Shoolay Circle, Bangalore Karnataka, India Ø Jaya Nagar, Opposite Dayand Sagar Mantap, Bangalore Karnataka, India Ø Sadashiv Nagar, Opposite Cauvery Theatre Circle, Bangalore – 560080 Karnataka, India Ø Mysore, India Ø Mangalore, India Ø Coimbatore, India

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Panna Lal Giria
Designation :	Managing Director
Address :	10/2, Chabria Layout, Kumara Krupa Road, Bangalore - 560001, Karnataka, India
Date of Birth/Age :	15.09.1948
Date of Appointment :	08.04.1999
PAN No.:	ADQPG6039C
DIN No.:	02013837
Name :	Mr. Kanhaiyalal Giria
Designation :	Whole-time director
Address :	10/2, Chabria Layout, Kumara Krupa Road, Bangalore - 560001, Karnataka, India
Date of Birth/Age :	16.06.1950
Date of Appointment :	08.04.1999
PAN No.:	ADQPG6038D
DIN No.:	01957934
Name :	Mr. Hansraj Giria
Designation :	Whole-time director
Address :	10/2, Chabria Layout, Kumara Krupa Road, Bangalore - 560001, Karnataka, India
Date of Birth/Age :	01.11.1957
Date of Appointment :	08.04.1999
PAN No.:	ADQPG6041E
DIN No.:	01958121
Name :	Mr. Naveen Giria
Designation :	Whole-time director
Address :	10/2, Chabria Layout, Kumara Krupa Road, Bangalore - 560001, Karnataka, India
Date of Birth/Age :	20.03.1974
Date of Appointment :	01.09.2000
PAN No.:	AAYPG2189G
DIN No.:	01958155
Name :	Mr. Praveen Giria
Designation :	Whole-time director
Address :	10/2, Chabria Layout, Kumara Krupa Road, Bangalore - 560001, Karnataka, India
Date of Birth/Age :	14.07.1975
Date of Appointment :	01.09.2000
PAN No.:	AAYPG2190B
DIN No.:	01958229
Name :	Mr. Manish Giria
Designation :	Whole-time director
Address :	10/2, Chabria Layout, Kumara Krupa Road, Bangalore - 560001, Karnataka, India
Date of Birth/Age :	08.04.1979
Date of Appointment :	01.10.2001
PAN No.:	AAYPG2188H
DIN No.:	01337221
Name :	Mr. Rishab Giria
Designation :	Whole-time director
Address :	10/2, Chabria Layout, Kumara Krupa Road, Bangalore - 560001, Karnataka, India
Date of Birth/Age :	20.02.1981
Date of Appointment :	01.10.2001
PAN No.:	ADVPG0226A
DIN No.:	01336569
Name :	Saroj Giria
Designation :	Whole-time director
Address :	10/2, Chabria Layout, Kumara Krupa Road, Bangalore - 560001, Karnataka, India
Date of Birth/Age :	07.06.1956
Date of Appointment :	24.08.2006
PAN No.:	ADQPG6040F
DIN No.:	01958311
Name :	Mr. Santosh Giria
Designation :	Whole-time director
Address :	10/2, Chabria Layout, Kumara Krupa Road, Bangalore - 560001, Karnataka, India
Date of Birth/Age :	09.04.1956
Date of Appointment :	24.08.2006
PAN No.:	ADQPG6037N
DIN No.:	01958344
Name :	Mr. Arihant Giria
Designation :	Whole-time director
Address :	No. 31/A, Gandhinagar, Bangalore - 560009, Karnataka, India
Date of Birth/Age :	09.08.1987
Date of Appointment :	03.08.2009
PAN No.:	AJXPG1155A
DIN No.:	02724431

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Pannalal Giria	42270
Kanhaiyalal Giria	59750
Hansraj Giria	36250
Kamala Giria	18250
Saroj Giria	26000
Manju Giria	38500
Naveen Giria	75500
Santosh Giria	21450
Praveen Giria	55500
Manish Giria	33100
Rishab Giria	35100
Dugarmal Jain	1000
Nitin Alias Nitesh Giria	1000
Shilpa Giria	3000
Vimki Giria	100
Arihant Giria	100
Rashmi Giria	1000
Shweta Giria	1000
Total	448870

AS ON 30.09.2011

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

BUSINESS DETAILS

Line of Business :

Dealers in Electrical and Electronics Goods and Home Appliances of Numerous Types.

Products :

ITC Code	Product Descriptions
02020203	Goods and Home Appliances

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Ø HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India

Ø Andhra Bank, Gandhi Nagar Branch, Bangalore - 560009, Karnataka, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Term loans from banks	212.322	0.000
Rupee term loan	0.000	59.037
Working capital loans	0.000	150.000
Total	212.322	209.037

Banking Relations :	--
Auditors :
Name :	M.C. Ravindra and Company Chartered Accountants
Address :	No. 113/B, II Floor, Infantry Road, Bangalore – 560001, Karnataka, India
Income-tax PAN of auditor or auditor's firm :	AACFM7086L
Subsidiaries :	Uttaranchal Tea Company Private Limited [U15491KA2001PTC029341]
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Ø Karnataka Filatex Ø Girias Investment Corporation Ø OM Investment Corporation Ø Brigade Nook Developers

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs. 100/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
448,870	Equity Shares	Rs. 100/- each	Rs. 44.887 Millions

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		44.887	44.887	44.887
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		516.227	416.851	340.943
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		561.114	461.738	385.830
LOAN FUNDS
1] Secured Loans		212.322	209.037	262.936
2] Unsecured Loans		123.329	94.184	73.780
TOTAL BORROWING		335.651	303.221	336.716
DEFERRED TAX LIABILITIES		4.041	2.891	2.289
TOTAL		900.806	767.850	724.835
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		489.603	355.944	303.179
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		11.463	17.133	15.099
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	263.403	258.458	200.456
	Sundry Debtors	83.212	120.102	120.200
	Cash & Bank Balances	43.765	28.205	36.059
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	230.751	158.746	159.198
Total Current Assets		621.131	565.511	515.913
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	157.914	123.719	64.331
	Other Current Liabilities	6.368	47.019	6.918
	Provisions	57.109	0.000	38.107
Total Current Liabilities		221.391	170.738	109.356
Net Current Assets		399.740	394.773	406.557
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		900.806	767.850	724.835

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income			2982.286
		Other Income			NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		164.598	124.806	115.685
Less/ Add	DEPRECIATION/ AMORTISATION		17.249	9.514	8.186
	PROFIT BEFORE TAX		147.349	115.292	107.499
Less	TAX		47.973	39.384	37.191
	PROFIT AFTER TAX		99.376	75.908	70.308
	Earnings Per Share (Rs.)		221.39	169.11	156.69

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PBT/Sales)	(%)	NA	NA	3.60
Return on Total Assets (PBT/Total Assets}	(%)	13.27	12.51	13.12
Return on Investment (ROI) (PBT/Networth)		0.26	0.25	0.28
Debt Equity Ratio (Total Debt/Networth)		0.60	0.66	0.87
Current Ratio (Current Asset/Current Liability)		2.81	3.31	4.72

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 year	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Loans and advances from directors	118.884	85.824
Loans and advances from others	4.445	0.000
Other debts	0.000	8.360
Total	123.329	94.184

CORPORATE INFORMATION

The company is carrying on the business of dealers in Electrical & Electronics goods and home appliances of numerous types. Its registered office is situated at Bangalore. It carries its business activities besides from its registered office, form its sales depot at Brigade Road, Bangalore, Sadashivanagar Bangalore, Jayanagar Bangalore, Rajaji Nagar Bangalore, Indiaranagar Bangalore, Hosur Road Bangalore, HRBR Layout Bangalore,Mysore Road Bangalore,Banashankari Bangalore, Mangalore KSR, Mysore, Hubli, Coimbatore Salem,Annagar Chennai, Kadri Road Mangalore, Gandhinagar Bangalore, Domlur Bangalore, Malleshwaram Bangalore, Marathhalli Bangalore, Bannerghatta Road Bangalore, Mahalingapuram High Road Chennai, Rajaji Road Chennai, R.A. Puram Chennai, Nagarbhavi Layout Bangalore, Kithriguppe Bangalore and Basavangudi Bangalore.

FINANCIAL RESULTS AND OPERATIONS:

The year’s Profit and Loss Account shows a profit of Rs.147.349 Millions after providing for depreciation of Rs.17.249 Millions and before making provision for Income tax of Rs.46.823 Millions.

The Directors are constantly endearing to increase the performance and happy to mention that the performance has been very satisfying.

FIXED ASSETS:

Ø Building

Ø Land

Ø Office Equipment

Ø Air Conditioner

Ø Electrical Fittings

Ø Vehicles

Ø Computers

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. 54.27
UK Pound	1	Rs. 82.49
Euro	1	Rs. 69.88

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		53

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.