MIRA INFORM REPORT

Report Date :

10.05.2013

IDENTIFICATION DETAILS

Name :	SHWETA INFRASTRUCTURE AND HOUSING (INDIA) PRIVATE LIMITED
Registered Office :	Shop No 2, Veena Beena Shopping Centre Co-Operating Society Limited, Gurunanak Road, Opposite Bandra Railway Station, Bandra (West), Mumbai – 400050, Maharashtra,
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	19.08.2005
Com. Reg. No.:	11-155493
Capital Investment / Paid-up Capital :	Rs. 13.300 Millions
CIN No.: [Company Identification No.]	U45200MH2005PTC155493
Legal Form :	Private Limited Liability Company
Line of Business :	Builders and Developers
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 880000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having a good track record. The financial position of the company is sound and healthy. It has recorded better growth in its turnover and profit during 2012. Trade relations are decent. Business is active. Payments terms are regular and as per commitment. The company can be considered for business dealings at usual trader 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	SME 2
Rating Explanation	High credit quality and very low credit risk.
Date	May 2011

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 :	Shop No 2, Veena Beena Shopping Centre Co-Operating Society Limited, Gurunanak Road, Opposite Bandra Railway Station, Bandra (West), Mumbai – 400050, Maharashtra, India
Tel. No.:	91-253-2418080
Fax No.:	91-253-2418084
E-Mail :	nateshca@gamil.com customercare@samraatgroup.com
Head Office / Corporate office :	Samraat House, Tagore Nagar, Opp Dr. Ambedkar Nagar 422006 Nasik
Tel. No.:	91-253-2418081/2418080
Fax No.:	91-253-2418084

DIRECTORS

As on 03.07.2012

Name :	Mr. Sujoy Jayant Gupta
Designation :	Director
Address :	“SHUBHA”, Near Dream Park, Anand Nagar, Nasik Road, Nasik – 422101, Maharashtra, India
Date of Birth/Age :	01.12.1971
Date of Appointment :	19.08.2005
DIN No.:	00041122
Name :	Mrs. Shweta Sujoy Gupta
Designation :	Director
Address :	“SHUBHA”, Near Dream Park, Anand Nagar, Nasik Road, Nasik – 422101, Maharashtra, India
Date of Birth/Age :	30.06.1976
Date of Appointment :	00040711
DIN No.:	19.08.2005

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 03.07.2012

Names of Shareholders	No. of Shares
Mr. Sujoy Jayant Gupta	35000
Mrs. Shweta Sujoy Gupta	1295000
Total	1330000

Equity Share Break up (Percentage of Total Equity)

As on 03.07.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Builders and Developers

Products :

Item Code No.	Product Description
0401	Builders and Developers

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ICICI Bank Limited, Land Mark Race Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India

· Bank of Maharashtra, Hrsiddhi Ashanagar, Bytco Point, Nasik Raod, Nasik – 422101, Maharashtra, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
From financial institution ICICI Home Finance Company Limited Secured by Equitable mortgage of Projects under Construction against which the arrangement has been granted and personal guarantees of Directors.	124.176	79.530
ICICI Bank Limited Against hypothecation of vehicles	2.083	2.619
Axis Bank Limited Against hypothecation of vehicles	2.129	0.000
From Banks State Bank of India Against hypothecation of vehicles	0.000	1.351
Total	128.388	83.500

Banking Relations :	--
Auditors :
Name :	CA R Natesh Chartered Accountant
Address :	5, Sai anand Sankul, Behind Sanjay Medicals, Bytco Point, Nasik – 422101, Maharashtra, India
PAN No.:	ABOPN2265R

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.10/- each	Rs. 15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1330000	Equity Shares	Rs.10/- each	Rs. 13.300 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		13.300	13.300	13.300
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		207.197	150.013	104.074
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		220.497	163.313	117.374
LOAN FUNDS
1] Secured Loans		128.388	83.500	1.705
2] Unsecured Loans		47.675	4.765	0.766
TOTAL BORROWING		176.063	88.265	2.471
DEFERRED TAX LIABILITIES		0.888	0.706	0.454
TOTAL		397.448	252.284	120.299
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		17.148	15.122	11.506
Capital work-in-progress		97.359	0.000	0.000
INVESTMENT		0.006	0.006	0.006
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	601.318	533.657	375.867
	Sundry Debtors	0.000	6.563	22.215
	Cash & Bank Balances	21.293	18.478	14.995
	Other Current Assets	0.017	0.022	0.000
	Loans & Advances	23.159	22.904	29.115
Total Current Assets		645.787	581.624	442.192
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	153.983	78.217	32.166
	Other Current Liabilities	185.350	252.636	290.817
	Provisions	23.519	13.615	10.450
Total Current Liabilities		362.852	344.468	333.433
Net Current Assets		282.935	237.156	108.759
MISCELLANEOUS EXPENSES		0.000	0.000	0.028
TOTAL		397.448	252.284	120.299

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	401.408	373.133	308.598
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	329.484	334.992	268.329
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		71.924	38.141	40.269
Less/ Add	DEPRECIATION/ AMORTISATION		1.531	1.313	0.815
	PROFIT BEFORE TAX		70.393	39.454	39.454
Less	TAX		13.209	21.677	4.290
	PROFIT AFTER TAX		57.184	45.939	57.174
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		163.313	117.374	60.200
	BALANCE CARRIED TO THE B/S		220.497	163.313	117.374
	Earnings Per Share (Rs.)		43.00	NA	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	14.25	12.31	18.53
Return on Total Assets (PBT/Total Assets}	(%)	10.90	6.78	8.92
Return on Investment (ROI) (PBT/Networth)		0.32	0.24	0.33
Debt Equity Ratio (Total Debt /Networth)		0.80	0.54	0.02
Current Ratio (Current Asset/Current Liability)		1.78	1.69	1.33

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	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	No
34]	External Agency Rating, if available	Yes

NOTE: Registered office of the company has been shifted from3rd Floor, Dream Square Aabove Hotel, DE Rajnigandha, Nashik Road, Nasik – 422101, Maharashtra, India to the present address w.e.f.28.09.2007

UNSECURED LOAN

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
From Directors
S S Gupta	3.892	1.174
S J Gupta	2.910	3.591
From Body Corporates
Flowervalley hotels Private Limited	40.873	0.000
Total	47.675	4.765

OPERATIONS

The company has achieved turnover of Rs.401.400 Millions against Rs.373.100 Millions - an increase of 7.58% growth. Continuing the legacy of Samraat Group, The Company has launched Dream Axis, Tropicana, Vrindvan, Samraat Quibism, and "s1gnature". The company is expecting much better performance in the next financial year.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U45200MH2005PTC155493
Name of the company	SHWETA INFRASTRUCTURE AND HOUSING (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Shop No 2, Veena Beena Shopping Centre Co-Operating Society Limited, Gurunanak Road, Opposite Bandra Railway Station, Bandra (West), Mumbai – 400050, Maharashtra, India
This form is for	Creation of Charge
Type of charge	Movable property (not being pledge)
CIN	U45200MH2005PTC155493
Particular of charge holder	Bank of Maharashtra, Hrsiddhi Ashanagar, Bytco Point, Nasik Raod, Nasik – 422101, Maharashtra, India
Nature of instrument creating charge	Composite deed of hypothecation for all facilities.bank sanction letter.
Date of instrument Creating the charge	14.03.2013
Amount secured by the charge	Rs.7.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base Rate+0.05% i.e.10.30% p.a. at present. Terms of Repayment Equated Monthly Installments of Rs.117297 beginning from April 2013 till March 2020. Margin Rs.1.327 Millions out of cost Rs.8.327 Millions i.e. 16%. Extent and Operation of the charge Till the repayment of loan and the interest thereon. Others 2ONE
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of the vehicle (PORCHE) purchased (M.V. Rs.8.327 Millions).

FIXED ASSETS

· Plant and Machinery

· Furniture and Fixtures

· Office Equipments

· Office Computer

· 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 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.54.24
UK Pound	1	Rs.84.29
Euro	1	Rs.71.36

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	7
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	7
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		52

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