MIRA INFORM REPORT

Report Date :

09.11.2013

IDENTIFICATION DETAILS

Name :	VIKING LEATHERS PRIVATE LIMITED
Registered Office :	Plot No. 83, Sector-16, Industrial Estate, Bahadurgarh - 124505, Haryana
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.12.2009
Com. Reg. No.:	05-039775
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U18209HR2009PTC039775
TAN No.: [Tax Deduction & Collection Account No.]	RTKV03035E
PAN No.: [Permanent Account No.]	AADCV4001E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Finished Leather Garments and Leather Goods.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

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 :	Yet to commence business operations
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated during 04.12.2009. it is yet to commence its business activities. As per latest financial record of 2013, the company has not started its business operation and there appears huge external borrowing taken by the company. Business is active. Payment terms are unknown. The company can be considering for business dealing on a safe and secured trade 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 – 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

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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 :	Plot No. 83, Sector-16, Industrial Estate, Bahadurgarh - 124505, Haryana, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	dewan.cs@gmail.com cagoyal@rediffmail.com

DIRECTORS

AS ON 28.09.2013

Name :

Mr. Ravi Kumar Agarwal

Designation :

Director

Address :

K-1 , Green Park Extension , New Delhi – 110016, India

Date of Birth/Age :

04.07.1967

Date of Appointment :

04.12.2009

DIN No.:

01294711

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	U45201DL1996PLC082549	HIMGIRI BUILDCON AND INDUSTRIES LIMITED	Director	10/10/1996	10/10/1996	Active	NO
2	U74999DL1974PTC007206	AGSONS AGENCIES (INDIA) PRIVATE LIMITED	Director	20/01/2006	20/01/2006	Active	NO
3	U74899DL1984PTC018041	S B PHARMA PRIVATE LIMITED	Director	07/07/2008	07/07/2008	Strike off	NO
4	U18209HR2009PTC039775	VIKING LEATHERS PRIVATE LIMITED	Director	04/12/2009	04/12/2009	Active	NO

Name :

Mr. Dharminder Pachisia

Designation :

Director

Address :

937, Sector - 7, Urban Estate, Ambala City, Ambala – 134003, Haryana, India

Date of Birth/Age :

24.02.1974

Date of Appointment :

04.12.2009

Voter ID No.:

HR/01/09/408654

DIN No.:

01631487

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	U17210DL1980PTC010411	NUSWIFT PRIVATE LIMITED	Director	29/09/2007	11/06/2007	Active	NO
2	U18209HR2009PTC039775	VIKING LEATHERS PRIVATE LIMITED	Director	04/12/2009	04/12/2009	Active	NO
3	U19116HR2011PTC042037	VIKING LEATHER GOODS AND GARMENTS PRIVATE LIMITED	Director	09/02/2011	09/02/2011	Active	NO

Name :

Mr. Ved Parkash Pachisia

Designation :

Director

Address :

937, Sector - 7, Urban Estate, Ambala City, Ambala – 134003, Haryana, India

Date of Birth/Age :

20.04.1953

Date of Appointment :

04.12.2009

Voter ID No.:

HR/01/09/408652

DIN No.:

02676362

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	U17210DL1980PTC010411	NUSWIFT PRIVATE LIMITED	Director	29/09/2007	11/06/2007	Active	NO
2	U18209HR2009PTC039775	VIKING LEATHERS PRIVATE LIMITED	Director	04/12/2009	04/12/2009	Active	NO
3	U19116HR2011PTC042037	VIKING LEATHER GOODS AND GARMENTS PRIVATE LIMITED	Director	09/02/2011	09/02/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2013

Names of Shareholders	No. of Shares
Ved Parkash Pachisia	3000
Dharminder Pachisia	1900
Himgiri Build Con and Industries Limited, India	5100
Total	10000

AS ON 28.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	51.00
Directors or relatives of directors	49.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Finished Leather Garments and Leather Goods.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :

Banking Relations :	--
Auditors :
Name :	Shiv Singla and Associates Chartered Accountants
Address :	14-Ug, First Floor, Amba Commercial Complex, Staff Road, Ambala Cantt – 133001, Haryana, India
Income-tax PAN of auditor or auditor's firm :	ADZPS6224Q

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000	Equity Shares	Rs. 10/- each	Rs. 0.200 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	0.000	0.000	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	0.100	0.100	0.100
(3) Non-Current Liabilities
(a) long-term borrowings	42.040	21.795	16.670
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.794	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	42.834	21.795	16.670
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	0.000	0.042	0.014
Total Current Liabilities (4)	0.000	0.042	0.014
TOTAL	42.934	21.937	16.784
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	39.221	20.002	15.571
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	2.056	0.000	0.000
(e) Other Non-current assets	0.833	0.633	0.401
Total Non-Current Assets	42.110	20.635	15.972
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.002	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.712	1.302	0.222
(e) Short-term loans and advances	0.110	0.000	0.590
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	0.824	1.302	0.812
TOTAL	42.934	21.937	16.784

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt/Networth)	420.40	217.95	166.70
Current Ratio (Current Asset/Current Liability)	0.00	31.00	58.00

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	No
12]	Profitability for last three years	No
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	No
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

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Loans from related parties	42.040	21.795
Total	42.040	21.795

Note:

The registered office of the company has been shifted from 363, Hari Palace Cinema Road, Ambala City - 134003, Haryana, India to the present w.e.f.16.08.2013

GENERAL INFORMATION

VIKING LEATHERS PRIVATE LIMITED, AMBALA CITY ("the Company") is a private company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged to carry on the business of manufacturer and exporter of finished Leather Garments and the leather goods. The Company has not done any operation during the FY 2012-2013

FIXED ASSETS:

· Plot

Building

Electric Fitting and Goods

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. 62.73
UK Pound	1	Rs. 100.92
Euro	1	Rs. 84.06

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		13

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.