MIRA INFORM REPORT

Report Date :

22.10.2013

IDENTIFICATION DETAILS

Name :	DYP HOSPITALITY PRIVATE LIMITED [w.e.f. 30.05.2011]
Formerly Known As :	DNYANSHANTI AGRO FARMS PRIVATE LIMITED
Registered Office :	2104/15, E Ward, Old P.B. Road, Kolhapur-416001, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.09.1993
Com. Reg. No.:	11-073824
Capital Investment / Paid-up Capital :	Rs.30.500 Millions
CIN No.: [Company Identification No.]	U55101PN1993PTC073824
TAN No.: [Tax Deduction & Collection Account No.]	KLPD01852E
PAN No.: [Permanent Account No.]	AABCD4274H
Legal Form :	Private Limited Liability Company
Line of Business :	Hotel Industry [Construction in Process.]
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 125000
Status :	Project under implementation stage
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated during the year 1983. The company is yet to commence its commercial operation as the company project is under implementation stage. However, trade capital base of the company is strong. Payment terms are unknown. The company can be considered for business dealings with some caution. Latest profit and loss of the company is not available.

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

India’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the traqde deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest.  The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

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 :	2104/15, E Ward, Old P.B. Road, Kolhapur-416001, Maharashtra, India
Tel. No.:	91-231-2653292
Fax No.:	Not Available
E-Mail :	sanjaypatil.18@rediffmail.com

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Sanjay Dnyandeo Patil

Designation :

Director

Address :

547, Yashawant Niwas, Kasaba Bawada, Kolhapur-416006, Maharashtra, India

Date of Birth/Age :

18.02.1964

Date of Appointment :

08.09.1993

Din No.:

00750705

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	U55101PN1993PTC073824	DYP HOSPITALITY PRIVATE LIMITED	Director	08/09/1993	08/09/1993	Active	NO
2	L40108MH1990PLC058774	R M MOHITE INDUSTRIES LIMITED	Director	24/05/1998	24/05/1998	Active	NO
3	U92199PN2000PTC014968	DNYANSHANTI PROJECTS PRIVATE LIMITED	Director	30/06/2000	30/06/2000	Active	NO

Name :

Mr. Satej Dnyandeo Patil

Designation :

Director

Address :

547, Yashawant Niwas, Kasaba Bawada, Kolhapur-416006, Maharashtra, India

Date of Birth/Age :

12.04.1972

Date of Appointment :

08.09.1993

Din No.:

00760047

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	U55101PN1993PTC073824	DYP HOSPITALITY PRIVATE LIMITED	Director	08/09/1993	08/09/1993	Active	NO
2	U92199PN2000PTC014968	DNYANSHANTI PROJECTS PRIVATE LIMITED	Director	30/06/2000	30/06/2000	Active	NO

Name :

Mr. Ruturaj Sanjay Patil

Designation :

Director

Address :

547, Yashawant Niwas, Kasaba Bawada, Kolhapur-416006, Maharashtra, India

Date of Birth/Age :

31.05.1990

Date of Appointment :

07.05.2011

Din No.:

03530269

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	U55101PN1993PTC073824	DYP HOSPITALITY PRIVATE LIMITED	Director	29/09/2011	07/05/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Sanjay Dnyandeo Patil	1525000
Satej Dnyandeo Patil	1525000
TOTAL	3050000

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :

Hotel Industry [Construction in Process.]

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

The Cosmos Co-operative Bank Limited

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Long Term Borrowings
The Cosmos Co-operative Bank Limited	83.912	14.973
TOTAL	83.912	14.973
Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Short Term Borrowings
Loans and Advances From Related Parties	0.000	2.161
Loans Repayable on Demand	0.000	7.000
TOTAL	0.000	9.161

Banking Relations :	--
Auditors :
Name :	P.M. Vardhe and Company Chartered Accountants
Address :	630 E, Shahupuri, 1^st Lane, Kolhapur-416001, Maharashtra, India
Tel No.:	91-231-2659667 [Office] 91-231-2536772 [Residential]
PAN No:	AANPV5690A

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3050000	Equity Shares	Rs.10/- each	Rs.30.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	30.500	0.100
(b) Reserves & Surplus	0.994	1.532
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	30.400
Total Shareholders’ Funds (1) + (2)	31.494	32.032
(3) Non-Current Liabilities
(a) long-term borrowings	83.912	14.973
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	20.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	103.912	14.973
(4) Current Liabilities
(a) Short term borrowings	0.000	9.161
(b) Trade payables	1.847	13.601
(c) Other current liabilities	0.000	18.124
(d) Short-term provisions	12.302	12.303
Total Current Liabilities (4)	14.149	53.189
TOTAL	149.555	100.194
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	105.400	66.351
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	2.003	2.003
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	4.458	2.335
(e) Other Non-current assets	0.011	0.295
Total Non-Current Assets	111.872	70.984
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.180	0.351
(d) Cash and cash equivalents	0.257	8.884
(e) Short-term loans and advances	30.382	18.662
(f) Other current assets	0.000	0.000
Total Current Assets	30.819	27.897
MISCELLANEOUS EXPENSES	6.864	1.313
TOTAL	149.555	100.194

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		30.400
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(7.173)
NETWORTH		23.327
LOAN FUNDS
1] Secured Loans		21.257
2] Unsecured Loans		7.000
TOTAL BORROWING		28.257
DEFERRED TAX LIABILITIES		0.000
TOTAL		51.584
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		53.596
Capital work-in-progress		0.000
INVESTMENT		0.005
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	2.112
	Other Current Assets	0.000
	Loans & Advances	5.652
Total Current Assets		7.764
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	9.739
	Other Current Liabilities	0.000
	Provisions	0.042
Total Current Liabilities		9.781
Net Current Assets		(2.017)
MISCELLANEOUS EXPENSES		0.000
TOTAL		51.584

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	26.007	2.474
Less	EXPENSES
		TOTAL	5.102	4.463
	PROFIT / (LOSS) BEFORE TAX		20.905	(1.989)
Less	TAX		12.200	0.000
	PROFIT / (LOSS) AFTER TAX		8.705	(1.989)
	Earnings / (Loss) Per Share (Rs.)		870.46	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	33.47	(80.40)
Return on Total Assets (PBT/Total Assets}	(%)	NA	21.57	(3.24)
Return on Investment (ROI) (PBT/Networth)		NA	0.65	(0.09)
Debt Equity Ratio (Total Debt/Networth)		2.66	0.75	1.21
Current Ratio (Current Asset/Current Liability)		2.17	0.52	0.79

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	Yes
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 two years	Yes
12]	Profitability for last two 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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10271683	05/02/2011 *	500,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	VASANT PLAZA, RAJARAM ROAD, C.S. NO. 1079/KH/2, E WARD, SHAHUPURI, KOLHAPUR - 411030, MAHARASHTRA, INDIA	B08260671
* Date of charge modification

NOTE:

The registered office of the company has been shifted from 2126, Ajinkyatara, Tarabai Park, Kolhapur- 416003, Maharashtra, India to the present address w.e.f.07.05.2011.

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.61.49
UK Pound	1	Rs.99.41
Euro	1	Rs.84.12

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.