MIRA INFORM REPORT

Report Date :

02.09.2013

IDENTIFICATION DETAILS

Name :	DOWNTOWN RETAIL PRIVATE LIMITED
Registered Office :	86, Mirza Street, 4^th Floor, Venkatesh Bhavan, Kalbadevi, Mumbai – 400003, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	18.03.2008
Com. Reg. No.:	11-180235
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U52100MH2008PTC180235
Legal Form :	Private Limited Liability Company
Line of Business :	To carry on business of Running Diplomatic Duty free shops at various Downtown Locations in the Country and to acquire set up, establish, maintain, operate business centre, departmental stores, super markets, shopping malls.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Discontinued operations
Payment Behaviour :	Unknown
Litigation :	Clear

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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

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 DECLINED

MANAGEMENT NON-COOPERATIVE

LOCATIONS

Registered Office :	86, Mirza Street, 4^th Floor, Venkatesh Bhavan, Kalbadevi, Mumbai – 400003, Maharashtra, India
Tel. No. :	Not Available
Fax No. :	Not Available
E-Mail :	roc.info@futuregroup.in

DIRECTORS

As on 29.09.2012

Name :

Mr. Atul Vini Ahuja

Designation :

Director

Address :

Gulmohar, Lala J.D.Gupta Marg, Devnar, Mumbai – 400088, Maharashtra, India

Date of Appointment :

18.03.2008

DIN No. :

00015713

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	U74999MH2004PTC144881	FLEMINGO DUTYFREE SHOP PRIVATE LIMITED	Director	05/03/2004	05/03/2004	01/07/2013	Active	NO
2	U99999MH2003PTC157291	FLEMINGO (DFS) PRIVATE LIMITED	Director	08/07/2004	08/07/2004	01/07/2013	Active	NO
3	U74999MH2006PTC163897	FLEMINGO DUTY FREE SHOP MUMBAI PRIVATE LIMITED	Director	19/08/2006	19/08/2006	-	Active	NO
4	U27205MH2006PTC165406	FLEMINGO JEWELLERY INDIA PVT LTD	Director	07/11/2006	07/11/2006	-	Active	NO
5	U52100MH2007PTC176164	FLEMINGO GOA RETAIL PRIVATE LIMITED	Director	26/11/2007	26/11/2007	-	Active	NO
6	U51101MH2007PTC171279	DUTYFREE DISTRIBUTION SERVICES PRIVATE LIMITED	Director	31/01/2008	31/01/2008	-	Active	NO
7	U52100MH2008PTC180235	DOWNTOWN RETAIL PRIVATE LIMITED	Director	18/03/2008	18/03/2008	-	Active	NO
8	U51410MH2007FTC176802	DFS INDIA PRIVATE LIMITED	Director	30/09/2009	06/02/2009	-	Active	NO
9	U62200MH2009PTC195971	SPARES SUPPORT SOLUTIONS INDIA PRIVATE LIMITED	Director	23/09/2009	23/09/2009	-	Active	NO
10	U45202MH2008PTC187265	AIRSPACE INFRASTRUCTURE PRIVATE LIMITED	Additional director	19/12/2009	19/12/2009	-	Active	NO
11	U61100MH2008PTC187249	FLEMINGO LINERS PRIVATE LIMITED	Director	30/09/2011	23/02/2011	-	Active	NO

Name :

Mr. Viren Vini Ahuja

Designation :

Director

Address :

Bungalow No-1, Neelkhanth Theerath, Road No-6, Chembur, Mumbai – 400088, Maharashtra, India

Date of Appointment :

18.03.2008

DIN No. :

00016317

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	U27200MH1981PTC025625	CHISHTIYA CONTAINERS PRIVATE LIMITED	Director	13/11/1981	13/11/1981	-	Active	NO
2	U67120MH1992PTC067187	OLEANDER FARMS PRIVATE LIMITED	Director	10/06/1992	10/06/1992	-	Active	NO
3	U40100MH1996PLC096424	MSW POWER (INDIA) LIMITED	Director	19/01/1996	19/01/1996	14/10/2009	Active	NO
4	U40100MH1996PLC097035	BERMACO ENERGY SYSTEMS LIMITED	Additional director	04/10/2011	08/02/1996	-	Active	NO
5	U29120MH1974PLC017444	BERMACO INDUSTRIES LIMITED	Director	01/05/1998	01/05/1998	-	Active	NO
6	U45204TN1999PLC042436	KINGS INDIA POWER CORPORATION LIMITED	Director	27/09/2002	27/09/2002	-	Active	NO
7	U15127TN1989PTC017215	MEENAM INDIA (EXPORTS) PRIVATE LIMITED	Director	29/01/2003	29/01/2003	30/06/2012	Active	NO
8	U99999MH2003PTC157291	FLEMINGO (DFS) PRIVATE LIMITED	Director	19/02/2003	19/02/2003	-	Active	NO
9	U70101PN1995PTC091575	AVINASH BHOSALE POWER PRIVATE LIMITED	Director	31/03/2003	31/03/2003	09/02/2009	Active	NO
10	U45200MH2003PTC142409	SMARNIYA PROPERTIES PRIVATE LIMITED	Director	29/09/2003	29/09/2003	-	Active	NO
11	U74999MH2004PTC144881	FLEMINGO DUTYFREE SHOP PRIVATE LIMITED	Director	05/03/2004	05/03/2004	-	Active	NO
12	U72900DL2004PTC148185	MATRIX ENERGY SOLUTIONS PRIVATE LIMITED (TRANSFERED FROM MAHARASHTRA)	Director	13/07/2005	13/07/2005	-	Active	NO
13	U40102MH2005PLC156127	BERMACO ENERGY LIMITED	Director	17/09/2005	17/09/2005	-	Active	NO
14	U72900KA2005PTC035807	APPLIED DIGITAL SIGNAL PROCESSING PRIVATE LIMITED	Director	03/11/2005	03/11/2005	24/05/2011	Active	NO
15	L15520TN1989PLC017034	KINGS INDIA CHEMICALS CORPORATION LIMITED	Director	27/08/2010	28/04/2006	-	Active	NO
16	U74999MH2006PTC163897	FLEMINGO DUTY FREE SHOP MUMBAI PRIVATE LIMITED	Director	19/08/2006	19/08/2006	-	Active	NO
17	U27205MH2006PTC165406	FLEMINGO JEWELLERY INDIA PVT LTD	Director	07/11/2006	07/11/2006	-	Active	NO
18	U51101MH2007PTC171279	DUTYFREE DISTRIBUTION SERVICES PRIVATE LIMITED	Director	04/06/2007	04/06/2007	-	Active	NO
19	U15500TN2007PTC065023	GOLDEN VATS PRIVATE LIMITED	Director	11/10/2007	11/10/2007	05/09/2008	Active	NO
20	U52100MH2007PTC176164	FLEMINGO GOA RETAIL PRIVATE LIMITED	Director	26/11/2007	26/11/2007	-	Active	NO
21	U52100MH2008PTC180235	DOWNTOWN RETAIL PRIVATE LIMITED	Director	18/03/2008	18/03/2008	-	Active	NO
22	U40107MH2008PLC186623	PTC BERMACO GREEN ENERGY SYSTEMS LIMITED	Director	10/09/2008	10/09/2008	30/03/2010	Active	NO
23	U51410MH2007FTC176802	DFS INDIA PRIVATE LIMITED	Director	30/09/2009	06/02/2009	-	Active	NO
24	U74210MH1985PTC036214	MODERN HYDRAULIC AND INDUSTRIAL ENGINEERING PVT LTD	Director	25/02/2009	25/02/2009	-	Active	NO
25	U45202MH2008PTC187273	VISUAL INFRA PROJECTS PRIVATE LIMITED	Director	24/04/2009	24/04/2009	-	Active	NO
26	U45202MH2008PTC187265	AIRSPACE INFRASTRUCTURE PRIVATE LIMITED	Director	24/04/2009	24/04/2009	-	Active	NO
27	U65990MH1995PTC088591	MILJUL INVESTRADE PRIVATE LIMITED	Director	21/09/2009	21/09/2009	-	Active	NO
28	U62200MH2009PTC195971	SPARES SUPPORT SOLUTIONS INDIA PRIVATE LIMITED	Director	23/09/2009	23/09/2009	21/12/2009	Active	NO
29	U45200MH2008PTC187270	GEO PROPERTIES PRIVATE LIMITED	Director	17/05/2010	17/05/2010	-	Active	NO
30	U45400MH2008PTC187242	RARE INFRA PROJECTS PRIVATE LIMITED	Director	24/06/2010	24/06/2010	-	Active	NO
31	U61100MH2008PTC187249	FLEMINGO LINERS PRIVATE LIMITED	Director	30/09/2011	23/02/2011	-	Active	NO
32	U93000MH2011PTC218702	SYDNEY FILMS PRIVATE LIMITED	Director	15/06/2011	15/06/2011	-	Active	NO
33	U70102MH2012PTC238291	UNITY BUILDING ASSETS PRIVATE LIMITED	Additional director	19/06/2013	19/06/2013	-	Active	NO
34	U74120MH2013PTC247084	CLEAR MAZE CONSULTING PRIVATE LIMITED	Director	16/08/2013	16/08/2013	-	Active	NO

Name :

Mr. Sunil Mantri

Designation :

Director

Address :

9-D, Nilgiri - I, Sector 34, Noida - 201307, Uttar Pradesh, India

Date of Birth/Age :

16.10.1965

Date of Appointment :

09.04.2008

DIN No. :

02082403

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	U70200MH2007PTC168068	SHUBHAM BUSINESS VENTURES PRIVATE LIMITED	Director	20/08/2008	27/02/2008	-	Active	NO
2	U52100MH2008PTC180235	DOWNTOWN RETAIL PRIVATE LIMITED	Director	09/04/2008	09/04/2008	-	Active	NO
3	U36939MH2007PLC238764	WINNER SPORTS LIMITED	Director	30/09/2009	21/03/2009	-	Active	NO
4	U19200DL2010PLC206824	CLARKS FUTURE FOOTWEAR LIMITED	Director	09/08/2010	09/08/2010	29/09/2010	Active	NO
5	U52100DL2010PTC206659	THINK FRESH INTERNATIONAL PRIVATE LIMITED	Additional director	11/10/2012	11/10/2012	-	Active	NO

Name :

Mr. Ramawtar Jangir

Designation :

Director

Address :

B/306, Sagar Complex, Bldg No. 1, CHS Limited, Sector A, Jesal Park, Opposite Swagatam Building, Bhayandar (East), Mumbai - 401105

Date of Birth/Age :

15.01.1974

Date of Appointment :

11.06.2012

DIN No. :

05140574

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	U85110MH2007PLC169493	FUTURE HOSPITALITY MANAGEMENT LIMITED	Director	29/09/2012	25/10/2011	-	Active	NO
2	U72100MH1999PLC120600	PRTL ENTERPRISES LIMITED	Additional director	29/12/2011	29/12/2011	-	Active	NO
3	U52100MH2008PTC180235	DOWNTOWN RETAIL PRIVATE LIMITED	Director	11/06/2012	11/06/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Shubham Mall Management Private Limited, India	9999
Viren Ahuja	1
Total	10000

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	99.99
Directors or relatives of Directors	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

To carry on business of Running Diplomatic Duty free shops at various Downtown Locations in the Country and to acquire set up, establish, maintain, operate business centre, departmental stores, super markets, shopping malls.

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	Gupta Gattani and Comapny Chartered Accountants
Address :	Room No.107, Pratap Bhawan, 5 Bahadur Shah Zafar Marg, New Delhi – 110002, India
Tel. No. :	91-11-23753699 / 41523699
E-Mail :	gattani_jain@airtelmail.in gattani_jain@bol.net.in
PAN No. :	AAEFG1742M
Holding Company :	Shubham Mall Management Private Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	(25.867)	(25.753)
(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)	(25.767)	(25.653)
(3) Non-Current Liabilities
(a) long-term borrowings	26.664	27.364
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	26.664	27.364
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	0.022	0.008
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	0.022	0.008
TOTAL	0.919	1.719
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.557	0.651
(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	0.005	0.011
Total Non-Current Assets	0.562	0.662
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	0.267	0.967
(e) Short-term loans and advances	0.090	0.090
(f) Other current assets	0.000	0.000
Total Current Assets	0.357	1.057
TOTAL	0.919	1.719

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(25.564)
NETWORTH		(25.464)
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		27.364
TOTAL BORROWING		27.364
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.900
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.078
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.090
	Other Current Assets	0.000
	Loans & Advances	0.723
Total Current Assets		0.813
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.008
	Provisions	0.000
Total Current Liabilities		0.008
Net Current Assets		0.805
MISCELLANEOUS EXPENSES		0.017
TOTAL		1.900

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	0.000	0.000	NA
		Other Income	0.000	0.000	NA
		TOTAL	0.000	0.000	NA
Less	EXPENSES
		TOTAL	0.114	0.189	NA
	PROFIT/ (LOSS) BEFORE TAX		(0.114)	(0.189)	NA
Less	TAX		0.000	0.000	NA
	PROFIT/ (LOSS) AFTER TAX		(0.114)	(0.189)	NA
	Earnings / (Loss) Per Share (Rs.)		(11.400)	(18.90)	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.00	0.00	NA
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	NA
Return on Total Assets (PBT/Total Assets}	(%)	(12.40)	(10.99)	NA
Return on Investment (ROI) (PBT/Networth)		0.00	0.01	NA
Debt Equity Ratio (Total Debt/Networth)		(1.03)	(1.07)	(1.07)
Current Ratio (Current Asset/Current Liability)		16.23	132.12	101.63

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 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	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	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

INDEX OF CHARGES : NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
LONG TERM BORROWINGS
Loan from Holding Company
Shubham mall Management Private Limited	20.156	20.856
Loan from Related Parties	0	0
Flamingo International Limited	1.720	1.720
Pantaloon Retail India Limited	4.788	4.788
Total	26.664	27.364

NOTE

The registered office of the company has been shifted from Knowledge House, Shyam Nagar, Off Jogeshwari – Vikhroli Link Road, Jogeshwari, Mumbai – 400060, Maharashtra, India to the present address w.e.f. 01.11.2012

CORPORATE INFORMATION

Subject was incorporated on 18.03.2008, with the registrar of companies; Maharashtra, at Mumbai and provider with the main objectives to carry on business of Running Diplomatic Duty free shops at various Downtown Locations in the Country and to acquire set up, establish, maintain, operate business centre, departmental stores, super markets, shopping malls.

FIXED ASSETS

· Office Equipment

· Electrical

· Wall Chillers

· Air Conditioner

· Computer

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.66.57
UK Pound	1	Rs.103.34
Euro	1	Rs.88.16

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	MRI

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.