MIRA INFORM REPORT

Report Date :

25.10.2013

IDENTIFICATION DETAILS

Name :	GLOBAL ALLIANCE PRIVATE LIMITED
Formerly Known As :	GLOBAL E-COMMERCE PRIVATE LIMITED
Registered Office :	20 Engineers Enclave, 2nd Floor, Harsh Vihar Crossing, Pitampura, New Delhi - 110034
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	05.10.2000
Com. Reg. No.:	55-103103
Capital Investment / Paid-up Capital :	Rs.3.040 Millions
CIN No.: [Company Identification No.]	U72200DL2000PTC103103
TAN No.: [Tax Deduction & Collection Account No.]	DELG09141G
PAN No.: [Permanent Account No.]	AABCG1269P
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of News Print Paper.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 23000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. However, trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered for business dealings at usual 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

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 trade 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.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Ms. Geetika
Designation :	Accounts Department
Contact No.:	91-11-27016534
Date :	10.10.2013

LOCATIONS

Registered Office :	20 Engineers Enclave, 2nd Floor, Harsh Vihar Crossing, Pitampura, New Delhi – 110034, India
Tel. No.:	91-11-27016534/ 27016535
Fax No.:	91-11-27016536/ 27016537
E-Mail :	pgl@vsnl.com galdelhi@vsnl.net
Location :	Owned

DIRECTORS

As on: 27.09.2012

Name :

Mr. Sunil Kumar Poddar

Designation :

Director

Address :

2A/206, Rang Rasayan Appt., Sector 13, Rohini, Delhi - 110085, India

Date of Birth:

14.04.1966

Date of Appointment :

05.01.2000

DIN:

00520623

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	U74899DL1995PLC065141	PODDAR GLOBAL LIMITED	Director	07/02/1995	07/02/1995	-	Active	NO
2	U72200DL2000PTC103103	GLOBAL ALLIANCE PRIVATE LIMITED	Director	05/01/2000	05/01/2000	-	Active	NO
3	U74140DL2010PTC202551	RKP SERVICES PRIVATE LIMITED	Director	12/05/2010	12/05/2010	-	Active	NO
4	U74900DL2010PTC203241	RKP GLOBAL PRIVATE LIMITED	Director	27/05/2010	27/05/2010	-	Active	NO
5	U27109WB2001PTC094063	SREE PADMAVATHI IRON PRIVATE LIMITED	Director	01/08/2010	01/08/2010	-	Amalgamated	NO
6	U51909WB1991PTC050682	PODDAR GLOBAL (KOLKATA) PRIVATE LIMITED	Director	01/08/2010	01/08/2010	-	Active	NO

Name :

Mrs. Sandeepa Poddar

Designation :

Director

Address :

2A/206, Rang Rasayan Appt., Sector 13, Rohini, Delhi - 110085, India

Date of Birth:

26.05.1969

Date of Appointment :

05.01.2000

DIN:

00486258

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	U74899DL1995PLC065141	PODDAR GLOBAL LIMITED	Director	07/02/1995	07/02/1995	-	Active	NO
2	U72200DL2000PTC103103	GLOBAL ALLIANCE PRIVATE LIMITED	Director	05/01/2000	05/01/2000	-	Active	NO
3	U74140DL2010PTC202551	RKP SERVICES PRIVATE LIMITED	Director	12/05/2010	12/05/2010	-	Active	NO
4	U74900DL2010PTC203241	RKP GLOBAL PRIVATE LIMITED	Director	27/05/2010	27/05/2010	-	Active	NO
5	U51909WB1991PTC050682	PODDAR GLOBAL (KOLKATA) PRIVATE LIMITED	Director	07/12/2011	07/12/2011	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Geetika
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 27.09.2012

Names of Shareholders	No. of Shares
Sunil Kumar Poddar	510
Sandeepa Poddar	510
Chemech (H.K.) Limited, British Virgin Islands	250000
Khetan Trexcon Private Limited, India	8000
Innovative Dealers Private Limited, India	15000
Nihal Fiscal Services Private Limited, India	15000
Sonal Tie UP Private Limited, India	15000
TOTAL	304020

Equity Share Break up (Percentage of Total Equity)

As on: 27.09.2012

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	82.00
Bodies corporate	17.00
Directors or relatives of directors	1.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader and Importer of News Print Paper.

Products :

Product Description	ITC Code
Misce. Goods and Services	97000

Imports :

Products :

Finished Goods

Countries :

• Hong Kong
• Dubai

Terms :

Selling :

L/C and Credit

Purchasing :

L/C and Credit

GENERAL INFORMATION

Customers :	End Users
No. of Employees :	50 (Approximately)
Bankers :	Not Available
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Agrawal Vinay and Associates Chartered Accountants
Address :	114, M. J. Shopping Center, 3, Veer Savarkar Block, Shakarpur, Delhi - 110092, India
Tel. No.:	91-11-22441337/ 22500530
E-Mail :	agrawalvinay1@indiatimes.com
PAN No.:	AAGFA8337G
Holding Company :	Chemech (HK) Limited

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
304020	Equity Shares	Rs.10/- each	Rs.3.040 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	3.040	3.040
(b) Reserves & Surplus	2.887	1.811
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	5.927	4.851
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.125	0.124
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.125	0.124
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	12.176	4.358
(c) Other current liabilities	0.330	0.140
(d) Short-term provisions	0.488	0.208
Total Current Liabilities (4)	12.994	4.706
TOTAL	19.046	9.681
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.136	0.160
(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	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	0.136	0.160
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	7.362	3.592
(c) Trade receivables	6.641	4.608
(d) Cash and cash equivalents	4.010	1.134
(e) Short-term loans and advances	0.897	0.187
(f) Other current assets	0.000	0.000
Total Current Assets	18.910	9.521
TOTAL	19.046	9.681

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		3.040
2] Share Application Money		0.000
3] Reserves & Surplus		1.385
4] (Accumulated Losses)		0.000
NETWORTH		4.425
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.125
TOTAL		4.550
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.186
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.199
	Sundry Debtors	4.636
	Cash & Bank Balances	6.158
	Other Current Assets	0.168
	Loans & Advances	0.000
Total Current Assets		13.161
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.070
	Other Current Liabilities	0.494
	Provisions	0.233
Total Current Liabilities		8.797
Net Current Assets		4.364
MISCELLANEOUS EXPENSES		0.000
TOTAL		4.550

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income		22.023	18.223
		Bank Interest on FDR		0.000	0.008
		Interest Received		0.019	0.032
		Rebates and Discount		0.000	0.376
		TOTAL (A)	57.813	22.042	18.639
Less	EXPENSES
		Purchase and Expenses		20.560	15.160
		Establishment Expenses		0.569	0.504
		Administrative Expenses		1.569	0.921
		Increase/ (Decrease) in Stock		(1.392)	1.459
		TOTAL (B)	56.251 (Including Financial and Depreciation Expenses)	21.306	18.044
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			0.736	0.595
Less	FINANCIAL EXPENSES (D)			0.072	0.082
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			0.664	0.513
Less/ Add	DEPRECIATION/ AMORTISATION (F)			0.025	0.030
	PROFIT BEFORE TAX (E-F) (G)		1.562	0.639	0.483
Less	TAX (H)		0.486	0.213	0.155
	PROFIT AFTER TAX (G-H) (I)		1.076	0.426	0.328
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.811	1.385	1.057
	BALANCE CARRIED TO THE B/S		2.887	1.811	1.385
	Earnings Per Share (Rs.)		4.00	1.00	1.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.86	1.93	1.76
Net Profit Margin (PBT/Sales)	(%)	NA	2.90	2.65
Return on Total Assets (PBT/Total Assets}	(%)	8.20	6.60	3.62
Return on Investment (ROI) (PBT/Networth)		0.26	0.13	0.11
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.46	2.02	1.50

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	No
34]	External Agency Rating, if available	No

OPERATIONS:

During the year, the company had achieved turnover of Rs.57.813 Million as compared to Rs.22.022 Millions in the previous year. The Profit before tax during the year is Rs.1.562 Millions as against Rs.0.639 Million in the previous year. The profit after provision for taxes amounting to Rs.1.076 Million is carried forward to the Balance Sheet. The Board of Directors hope to further improves the better results during the current year.

Note: No Charges Exist for Company

FIXED ASSETS

• Computer
• Plant and Machinery

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.61.41
UK Pound	1	Rs.99.53
Euro	1	Rs.84.82

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		43

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.