MIRA INFORM REPORT

Report Date :

19.11.2013

IDENTIFICATION DETAILS

Name :	SIDDHIVINAYAK CINEVISION PRIVATE LIMITED
Registered Office :	3 Sarvamngal College Lane, Dadar (West), Mumbai – 400028, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	10.01.2001
Com. Reg. No.:	11-130376
Capital Investment / Paid-up Capital :	Rs.1.320 Millions
CIN No.: [Company Identification No.]	U92120MH2001PTC130376
TAN No.: [Tax Deduction & Collection Account No.]	MUMS49697E
PAN No.: [Permanent Account No.]	AAGCS6580A
Legal Form :	Private Limited Liability Company
Line of Business :	Producing feature and commercial films.
No. of Employees :	Not Available [We tried to confirm the number of employees but no one is ready to part any information from the company management]

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

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 :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The networth of the company has been fully eroded due to accumulated losses recorded by the company during 2013. External borrowing seem to be increasing over previous years. However, trade relations are improving. Business is active. Payment are reported to be slow. The company can be considered for business dealing on a 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 :	3 Sarvamngal College Lane, Dadar (West), Mumbai – 400028, Maharashtra, India
Tel. No.:	91-22-24900055
Fax No.:	Not Available
E-Mail :	deepsoffice@yahoo.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Sachin Madhukar Khanolkar

Designation :

Director

Address :

3 Sarvamngal College Lane, Dadar (West), Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

25.09.1969

Date of Appointment :

10.01.2001

DIN No.:

01724299

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	U45200MH1996PTC100865	SIDDHIVINAYAK CONSTRUCTION PRIVATE LIMITED	Director	10/07/1996	10/07/1996	-	Active	NO
2	U92120MH2001PTC130376	SIDDHIVINAYAK CINEVISION PRIVATE LIMITED	Director	10/01/2001	10/01/2001	-	Active	NO
3	U15520MH2005PTC150903	TERROIR INDIA WINERIES PRIVATE LIMITED	Director	31/01/2005	31/01/2005	24/12/2009	Active	NO
4	U74210MH2005PTC154338	SIDDHIVINAYAK CONSULTANTS PRIVATE LIMITED	Director	29/06/2005	29/06/2005	-	Converted to LLP and dissolved	NO
5	U92120MH2008PTC187505	FILM TREE MOTION PICTURES PRIVATE LIMITED	Director	14/10/2008	14/10/2008	-	Strike off	NO

Name :

Mr. Bindiya Sachin Khanolkar

Designation :

Director

Address :

3 Sarvamngal College Lane, Dadar (West), Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

04.01.1975

Date of Appointment :

10.01.2001

DIN No.:

01724354

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	U92120MH2001PTC130376	SIDDHIVINAYAK CINEVISION PRIVATE LIMITED	Director	10/01/2001	10/01/2001	-	Active	NO
2	U74210MH2005PTC154338	SIDDHIVINAYAK CONSULTANTS PRIVATE LIMITED	Director	29/06/2005	29/06/2005	-	Converted to LLP and dissolved	NO

KEY EXECUTIVES

Name :	Mr. Kiransingh Rajpurohit
Designation :	Company Secretaries
Address :	Room No. 02, Arjun Buliya Chawl, Shivaji Chowk, Daftry Road, Malad (East), Mumbai – 400097, Maharashtra, India
Mobile No.:	91-8108824604
Email:	K_rajpurohit@gmail.com

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Sachin Madhukar Khanolkar	5000
Bindiya Sachin Khanolkar	5000
Siddhivinayak construction Private Limited, India	122000
Total	132000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies corporate	92.42
Directors or relatives of Directors	7.58
Total	100.00

BUSINESS DETAILS

Line of Business :

Producing feature and commercial films.

GENERAL INFORMATION

No. of Employees :

Not Available [We tried to confirm the number of employees but no one is ready to part any information from the company management]

Bankers :

NKGSB CO-Operative Bank Limited, Samved, S. K. Bole Road, Dadar (West), Mumbai - 400028, Maharashtra, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Short-term borrowings
From NKGSB Bank	10.440	1.453
Bank overdraft	0.011	0.000
Total	10.451	1.453
Note: Repayment in 15 EMI of Rs. 0.735 Million each collaterally secured by equipment mortgage od fat at flat no. 1001, 10^th Floor, A wing, Siddhivinayak Horizan Narial Wadi, Veer Nariman Road, Prabhadevi, Mumbai – 400 025

Banking Relations :
Auditors :
Name :	Nayak and Rane Chartered Accountants
Address :	1B, Kishore Kunj, Tejpal Scheme Road, No. 5, Vile Parle (East), Mumbai – 400057, Maharashtra, India
Tel No.:	91-22-26839081/26839082
Email:	mumbai@nayakrane.com
PAN N Income-tax PAN of auditor or auditor's firm :	AACFN4326J
Enterprises over which KMP are able to exercise significant influence:	Siddhivinayak Construction Private Limited

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs. 1.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
132000	Equity Shares	Rs.10/- each	Rs. 1.320 Millions

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	1.320	1.320	1.320
(b) Reserves & Surplus	(3.711)	(3.471)	(0.331)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	2.500
Total Shareholders’ Funds (1) + (2)	(2.391)	(2.151)	3.489
(3) Non-Current Liabilities
(a) long-term borrowings	41.254	1.925	0.025
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	41.254	1.925	0.025
(4) Current Liabilities
(a) Short term borrowings	10.452	1.453	13.093
(b) Trade payables	3.092	4.285	1.028
(c) Other current liabilities	1.247	24.816	0.023
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	14.791	30.554	14.144
TOTAL	53.654	30.328	17.658
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.077	0.090	0.104
(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	0.362	0.112	0.112
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	1.450	1.052	1.002
Total Non-Current Assets	1.889	1.254	1.218
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.294
(c) Trade receivables	0.000	0.000	8.225
(d) Cash and cash equivalents	3.067	5.788	7.373
(e) Short-term loans and advances	0.300	1.760	0.300
(f) Other current assets	48.398	21.526	0.248
Total Current Assets	51.765	29.074	16.440
TOTAL	53.654	30.328	17.658

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT / (LOSS) AFTER TAX		(0.240)	(3.139)	(0.114)
	Earnings / (Loss) Per Share (Rs.)		(1.82)	NA	NA

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt /Networth)	(21.63)	(1.57)	(3.76)
Current Ratio (Current Asset/Current Liability)	3.50	0.95	1.16

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

FINANCIAL RESULTS:

During the year, the company has net loss of Rs.0.240 Million against last year losses of Rs.3.139 Millions the director are confident about growth of the company and they could be able to recover current year losses in the forthcoming financial year.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10129712	01/10/2008	2,700,000.00	NKGSB CO-OP. BANK LIMITED	SAMVED, S. K. BOLE ROAD, DADAR (WEST), MUMBAI, MAHARASHTRA - 400028, INDIA	A50677715

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
From Director
Bindiya Khanolkar	0.025	0.025
Sachin Khanolkar	2.570	0.000
Others
M.G Khanolkar Foundation	0.550	0.000
Siddhivinayak Construction Private Limtied	35.909	0.000
Siddhivinayak Habitats	0.3000	0.000
Rajasthan Associates	0.900	0.900
Teknav	1.000	1.000
Total	41.254	1.925

FIXED ASSETS

Tangible Assets

• Projector

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.62.63
UK Pound	1	Rs.101.06
Euro	1	Rs.84.56

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		11

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.