MIRA INFORM REPORT

Report Date :

23.10.2013

IDENTIFICATION DETAILS

Name :	TRISHLA BUILDTECH PRIVATE LIMITED
Registered Office :	H. No. 80, Pocket E – 15, Sector - 8, Rohini, New Delhi – 110085
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	25.05.2011
Com. Reg. No.:	55-219831
Capital Investment / Paid-up Capital :	Rs.49.500 Millions
CIN No.: [Company Identification No.]	U70101DL2011PTC219831
TAN No.: [Tax Deduction & Collection Account No.]	DELT09615E
PAN No.: [Permanent Account No.]	AADCT8691C
Legal Form :	Private Limited Liability Company
Line of Business :	Builders and Developers.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 200000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a company having moderate track record. The capital base of the company is decent. However, the management has achieved minuscule sales turnover during 2012. However, trade relations are fair. Business is active. Payment terms are reported as slow. The company can be considered for business dealings with great caution.

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 :	H. No. 80, Pocket E – 15, Sector - 8, Rohini, New Delhi – 110085, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	sairam_psingla@yahoo.com

DIRECTORS

As on: 29.09.2012

Name :

Mr. Harish Gupta

Designation :

Managing Director

Address :

Trishla Shawl Factory, Ramshilla, Kullu - 175101, Himachal Pradesh, India

Date of Birth/Age :

12.05.1966

Date of Appointment :

25.05.2011

DIN No.:

03528516

Name :

Ms. Deepti Gupta

Designation :

Director

Address :

Trishla Shawl Factory, Ramshilla, Kullu - 175101, Himachal Pradesh, India

Date of Birth/Age :

18.03.1969

Date of Appointment :

25.05.2011

DIN No.:

03528518

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	U70101DL2011PTC219831	TRISHLA BUILDTECH PRIVATE LIMITED	Director	25/05/2011	25/05/2011	-	Active	NO
2	U45209CH2010PTC032371	BSS VENTURES PRIVATE LIMITED	Additional director	20/08/2012	20/08/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Harish Gupta	2475000
Deepti Gupta	2475000
Total	4950000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Builders and Developers.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	Parveen Singla and Associates Chartered Accountants
Address :	SCO. 1116-1117, Sector - 22 B, Chandigarh – 160022, India
PAN No.:	ACIPS2677P

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4950000	Equity Shares	Rs.10/- each	Rs.49.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	49.500
(b) Reserves & Surplus	0.041
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.500
Total Shareholders’ Funds (1) + (2)	50.041
(3) Non-Current Liabilities
(a) long-term borrowings	189.619
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	189.619
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	27.501
(c) Other current liabilities	210.766
(d) Short-term provisions	0.020
Total Current Liabilities (4)	238.287
TOTAL	477.947
II. ASSETS
(1) Non-current assets
(a) Fixed Assets	1.773
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
Total Non-Current Assets	1.773
(2) Current assets
(a) Current investments	0.000
(b) Inventories	437.175
(c) Trade receivables	0.887
(d) Cash and cash equivalents	7.233
(e) Short-term loans and advances	30.879
(f) Other current assets	0.000
Total Current Assets	476.174
TOTAL	477.947

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2012
	SALES
		Income		0.061
		Other Income
		TOTAL		0.061
Less	EXPENSES
		Office Expenses		0.000
		Administrative Expenses
		Advertising Expenses
		TOTAL		0.000
	PROFIT BEFORE TAX			0.061
Less	TAX			0.020
	PROFIT AFTER TAX			0.041
	Earnings Per Share (Rs.)			0.01

KEY RATIOS

PARTICULARS		31.03.2012
PAT / Total Income	(%)	67.21
Return on Total Assets (PBT/Total Assets}	(%)	0.01
Return on Investment (ROI) (PBT/Networth)		0.00
Debt Equity Ratio (Total Debt /Networth)		3.79
Current Ratio (Current Asset/Current Liability)		2.00

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 one year	Yes
12]	Profitability for last one year	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	No
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	No
34]	External Agency Rating, if available	No

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2012
LONG TERM BORROWINGS
Loans and Advances from Related Parties	189.619
Total	189.619

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10374621	14/07/2012	400,000,000.00	--	SCO 43-48, SECTOR 17 B, SME BRANCH, CHANDIGARH, Chandigarh - 160017, INDIA	B57340721

* Date of charge modification

FIXED ASSETS:

• Computer
• Furniture and Fixtures
• Site Office
• Software

AS PER WEBSITE DETAILS:

PRESS RELEASE:

BUILDER TAKES IAF STATION TO COURT

Chandigarh, April 26, 2012

Trishla Buildtech Private Limited has dragged Air Force Station High Ground to a Zirakpur court for allegedly not allowing it to use the road from Zirakpur-Patiala highway to the air force station.

The court has issued a notice to the air force station seeking its reply in this connection.

Trishla builders started construction work on its site High Ground Road, Nabha Sahib village, Zirakpur, after obtaining a no objection certificate (NOC) from the ministry of defence on April 21, 2011, which sanctioned it the construction of group housing project up to 40 metre height. Following which the builder also got the building plans of 'Trishla City' sanctioned from the Zirakpur municipal council on April 6, 2011.

However, the air force station authorities stopped the vehicles carrying building material by using the road, saying the road was not meant for the commercial purposes, claimed the petition.

The builder contended in the petition before the court that as per master plan the road falls in the category of public road and "every person has right to use it for commercial purposes". It claimed before the court that even municipal engineer had also clarified through a letter, dated July 20, 2011, that the road was a public road.

The builder said that it then complained to sub-divisional magistrate (SDM), Derabassi, on September 8, 2011, and deputy commissioner (DC), SAS Nagar, on October 3, 2011.

Following which, the complainant said, the DC marked an inquiry under SDM, who after hearing both the parties, wrote to DC that the air force station had no right to stop the builder from using the road.

The builder said that it again approached the air force station for peaceful use of the road but in vain.

It stated before the court that two brick kilns, KKK and AKM, had been using the road for the past 20 years; two-group housing societies, Astha group and Ansal flats, and Celebration Marriage Palace had been carrying out its activities for many years through the road.

The builder urged the court that the air force station must be restrained from blocking the road, as the builder had sold flats and was time bound to complete the project.

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.61.78
UK Pound	1	Rs.99.66
Euro	1	Rs.84.49

INFORMATION DETAILS

Report Prepared by :

RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
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	3
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.