1. Summary Information

		Country	India
Company Name	ADISHWAR INDIA LIMITED	Principal Name 1	Mr. Paras Premraj Jain
Status	Satisfactory	Principal Name 2	Mr. Nirmal Premraj Jain
		Registration #	08-021681
Street Address	#146, 11^th ‘C’ Cross, 1^st Main, 2^nd Stage, West of Chord Road, Bangalore – 560 086, Karnataka
Established Date	21.01.1997	SIC Code	--
Telephone#	91-80-40733999	Business Style 1	Trader
Fax #	91-80-23594310	Business Style 2	--
Homepage	www.adishwarindia.com www.adishwarestores.com	Product Name 1	Consumer Durables
# of employees	Not Divulged	Product Name 2	House Hold Articles
Paid up capital	Rs.79,408,000/-	Product Name 3	Electronic Appliances
Shareholders	Directors or relatives of directors 100.00%	Banking	HDFC Bank Limited
Public Limited Corp.	No	Business Period	17 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (42)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	218,986,000	Current Liabilities	81,131,000
Inventories	577,468,000	Long-term Liabilities	451,436,000
Fixed Assets	246,622,000	Other Liabilities	30,251,000
Deferred Assets	5,299,000	Total Liabilities	562,818,000
Invest& other Assets	951,000	Retained Earnings	407,100,000
		Net Worth	486,508,000
Total Assets	1,049,326,000	Total Liab. & Equity	1,049,326,000
Total Assets (Previous Year)	1,005,567,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	2,580,198,000	Net Profit	23,159,000
Sales(Previous yr)	3,111,313,000	Net Profit(Prev.yr)	72,595,000

MIRA INFORM REPORT

Report Date :

20.04.2014

IDENTIFICATION DETAILS

Name :	ADISHWAR INDIA LIMITED
Formerly Known As :	ADISHWAR MARKETING LIMITED
Registered Office :	#146, 11^th ‘C’ Cross, 1^st Main, 2^nd Stage, West of Chord Road, Bangalore – 560 086, Karnataka
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	21.01.1997
Com. Reg. No.:	08-021681
Capital Investment / Paid-up Capital :	Rs.79.408 Millions
CIN No.: [Company Identification No.]	U51909KA1997PLC021681
TAN No.: [Tax Deduction & Collection Account No.]	BLRA05081G
PAN No.: [Permanent Account No.]	AABCA4663P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trading of Consumer Durables, House Hold Articles, Electronic Appliances and Home Appliances.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 1950000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There, seems sharp in the turnover and profit of the company during 2013. However, net worth and general financial position of the company is satisfactory Trade relations are reported to be fair. Business is active. Payments are reported to be usually Slow but correct. The company can be considered for normal 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, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs  has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	BBB – [Long Term Bank Facilities]
Rating Explanation	Moderate degree of safety. It carry moderate credit risk
Date	13.01.2014

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.

Contact No.: 91-80-4073999

LOCATIONS

Registered Office/ Corporate Office :	#146, 11^th ‘C’ Cross, 1^st Main, 2^nd Stage, West of Chord Road, Bangalore – 560 086, Karnataka, India
Tel. No.:	91-80-40733999/ 98/ 23594311/ 12/ 13 / 26691262
Fax No.:	91-80-23594310/ 40733997 / 26691263
E-Mail :	info@adishwarindia.com avenueroadbr@ingvysybank.com paras@bgl.vsnl.net.in geetha_mohanmurali@rediffmail.com
Website :	www.adishwarindia.com www.adishwarestores.com
Branch Office :	Located At: v Rajajinagar v BSK Kathriguppe v Chandra Layout v Ganganagar v HRBR Layout v Jayanagar v Domlur v Marathahalli v H.S.R. Layout v Ramamurthy Nagar v Yeshwanthpur v Sarjapur Road v Nagarbhavi v Sunkadakatte v Puttenahalli v Peenya Warehouse
Showrooms :	Located At: v Banashankari v Infantry Road, Bangalore v Malleswaram, Bangalore v Rajajinagar v Ring Road, Banashankari v Marathahalli v Bannerghatta Road v Mysore v Belgaum v Mangalore v Kolar v Hyderabad – Kondapur v Sainikpuri v Miyapur v Chennai – Kilpauk v Saligramam

DIRECTORS

As on: 30.09.2013

Name :

Mr. Paras Premraj Jain

Designation :

Chairman cum Managing Director

Address :

No.11/7, Jolly Apartments, N.S. Iyengar Street, Sheshadripuram, Bangalore – 560 020, Karnataka, India

Date of Birth/Age :

30.04.1969

Qualification :

Graduate

Date of Appointment :

01.07.2013

PAN No.:

ABGPJ5656C

DIN No.:

02063077

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	U51909KA1997PLC021681	ADISHWAR INDIA LIMITED	Managing director	01/07/2013	21/01/1997	-	Active	NO

Name :

Mr. Nirmal Premraj Jain

Designation :

Whole- time director

Address :

No.11, Jolly Apartments, N.S. Iyengar Street, Sheshadripuram, Bangalore – 560 020, Karnataka, India

Date of Birth/Age :

13.12.1974

Qualification :

Graduate

Date of Appointment :

01.07.2013

PAN No.:

ABYPK7139B

DIN No.:

01635340

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	U51909KA1997PLC021681	ADISHWAR INDIA LIMITED	Whole-time director	01/07/2013	21/01/1997	-	Active	NO

Name :

Mr. Premraj Jain

Designation :

Director

Address :

No.11, Jolly Apartments, N.S. Iyengar Street, Sheshadripuram, Bangalore – 560 020, Karnataka, India

Date of Birth/Age :

10.10.1937

Qualification :

Graduate

Date of Appointment :

28.09.2011

PAN No.:

ACEPP3075E

DIN No.:

02227248

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	U51909KA1997PLC021681	ADISHWAR INDIA LIMITED	Director	28/09/2011	21/01/1997	-	Active	NO

Name :

Mrs. Kanchan Devi

Designation :

Director

Address :

No.11, Jolly Apartments, N.S. Iyengar Street, Sheshadripuram, Bangalore – 560 020, Karnataka, India

Date of Birth/Age :

18.08.1971

Qualification :

Graduate

Date of Appointment :

28.09.2011

PAN No.:

AAYPD4887C

DIN No.:

02063134

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	U51909KA1997PLC021681	ADISHWAR INDIA LIMITED	Director	28/09/2011	21/01/1997	-	Active	NO

Name :

Mrs. Manjula Devi

Designation :

Director

Address :

No.11, Jolly Apartments, N.S. Iyengar Street, Sheshadripuram, Bangalore – 560 020, Karnataka, India

Date of Birth/Age :

29.07.1976

Qualification :

Graduate

Date of Appointment :

28.09.2011

PAN No.:

ABQPM2138L

DIN No.:

02486120

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	U51909KA1997PLC021681	ADISHWAR INDIA LIMITED	Director	28/09/2011	15/01/2003	-	Active	NO

Name :

Mr. Girish Amritlal Chouhan

Designation :

Director

Address :

No.66/2, 3^rd Main, 5^th Cross, Chamrajpet, Bangalore – 560 018, Karnataka, India

Date of Birth/Age :

25.12.1976

Qualification :

Graduate

Date of Appointment :

08.08.2007

DIN No. :

01461924

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	U51909KA1997PLC021681	ADISHWAR INDIA LIMITED	Director	08/08/2007	02/10/2006	-	Active	NO
2	U52390KA2012PTC066517	ADISHWAR MARKETING PRIVATE LIMITED	Director	30/10/2012	30/10/2012	-	Active	NO

Name :

Mr. Ravindra Kudpi

Designation :

Director

Address :

No.23, Akshara, 4^th Main, 4^th Cross, Gourava Nagar, J.P. Nagar, 7^th Phase, Bangalore – 560 078, Karnataka, India

Date of Birth/Age :

08.01.1960

Qualification :

Graduate

Date of Appointment :

08.08.2007

DIN No. :

01461953

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	U51909KA1997PLC021681	ADISHWAR INDIA LIMITED	Director	08/08/2007	02/10/2006	-	Active	NO
2	U72200KA2008PTC046111	QueryTech Systems India Private Limited	Director	17/04/2008	17/04/2008	-	Strike off	NO

Name :

Mr. Joitkumar Bhomchand Jain

Designation :

Director

Address :

New Municipal Building, Flat No.12, 1^st Floor, Mumbai – 400 008, Maharashtra, India

Date of Birth/Age :

05.01.1965

Qualification :

Graduate

Date of Appointment :

27.09.2010

PAN No.:

AABPJ9794M

DIN No. :

01526858

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	U31200GA1992PLC002357	CENZER INDUSTRIES LIMITED	Managing director	04/05/2009	07/12/1992	-	Active	NO
2	U45400MH2002PTC136248	CENZER INFRASTRUCTURE PRIVATE LIMITED	Director	19/06/2002	19/06/2002	-	Active	NO
3	U31400MH2009PTC190705	BISTEC LITECH INDUSTRIES PRIVATE LIMITED	Managing director	04/03/2009	04/03/2009	31/03/2012	Active	NO
4	U51909KA1997PLC021681	ADISHWAR INDIA LIMITED	Director	27/09/2010	01/10/2009	-	Active	NO
5	U33301DL2005PTC138855	J AND J WATCHELECTRO MFG PRIVATE LIMITED	Additional director	07/12/2010	07/12/2010	20/12/2010	Active	NO

KEY EXECUTIVES

Name :	Mrs. Geetha Mani Jayavaram
Designation :	Secretary
Address :	No.6152, 6^th Block, Janapriya Bharath Enclave, Sunkadakatte, Vishwaneedam Post, Bangalore – 560 091, Karnataka, India
Date of Birth/Age :	10.06.1974
Date of Appointment :	28.06.2007
PAN No.:	AHQPJ1848J

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2013

Name of Shareholders	No. of Shares	%age
Paras Jain	1998925	25.17
Premraj Jain	916100	11.54
Nirmal Jain	1918700	24.16
Kanchan Devi	1167050	14.70
Manju Devi	1295100	16.31
Bhoormal Tated	1700	0.02
Bhavari Devi	643250	8.10
Total	7,940,825	100.00

As on: 30.09.2013

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

BUSINESS DETAILS

Line of Business :

Trading of Consumer Durables, House Hold Articles, Electronic Appliances and Home Appliances.

Products :

• Watches
• Men’s Wear
• Women’s Wear
• Cook Wears
• Travel Luggage
• Electrical Items
• Home Appliances
• Kitchen Appliances
• Lifestyle Products
• Other Gadgets

Item Code	Product Description
CD 0001	Consumer durables
EG 0001	Electronic goods

GENERAL INFORMATION

No. of Employees :

Information declined by the management.

Bankers :

v HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India

v Axis Bank Limited, Trishul, 3^rd Floor, Opposite Samartheshwar Temple, Law Garden, Eills Bridge, Ahmedabad – 380 006, Gujarat, India

v ING Vysya Bank Limited, 489, Avenue Road, Bangalore – 560002, Karnataka, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long term borrowing
Rupee term loans from banks [hypothecation of movable party properties held by the company]	5.556	18.889
Other loans and advances [loan taken for vehicles ]	6.830	11.726
Short Term Borrowing
Working capital loans from banks	379.050	361.793
Other loans and advances
TOTAL	391.436	392.598

	Note : Long term borrowing Company enjoys cash credit bfacility / WCDL from HDFC Bank accounting to Rs. 380.000 Millions secured against hypothecation of Inventories and immovable property f=held by company and Directors. The limits are further secured by personal guarantees of directors and promotors of the company.
Banking Relations :	--
Financial Institution :	Cholamandalam Investment and Finance Company Limited, Dare House, No. 2, S.C. Bose Road, Parrys, Chennai-600001, Tamilnadu, India
Auditors :
Name :	Kamlesh Bohra and Company Chartered Accountants
Address :	Mangalprem Villa, No.8/2, Saraswathiammal Road, Marutiseva Nagar, Bangalore – 560 033, Karnataka, India
Tel. No.:	91-80-25475465
Mobile No.:	91-9844060662
Fax No.:	91-80-25475465
E-Mail :	kamlesh662@gmail.com
PAN No:	AAKPJ2587M

CAPITAL STRUCTURE

As on: 30.09.2013

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
7940825	Equity Shares	Rs.10/- each	Rs.79.408 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	79.408
(b) Reserves & Surplus	407.100
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	486.508
(3) Non-Current Liabilities
(a) long-term borrowings	72.386
(b) Deferred tax liabilities (Net)	13.289
(c) Other long term liabilities	0.000
(d) long-term provisions	7.102
Total Non-current Liabilities (3)	92.777
(4) Current Liabilities
(a) Short term borrowings	379.050
(b) Trade payables	28.044
(c) Other current liabilities	53.087
(d) Short-term provisions	9.860
Total Current Liabilities (4)	470.041
TOTAL	1,049.326
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	246.562
(ii) Intangible Assets	0.060
(iii) Capital work-in-progress	0.951
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	5.299
(d) Long-term Loan and Advances	105.304
(e) Other Non-current assets	0.016
Total Non-Current Assets	358.192
(2) Current assets
(a) Current investments	0.000
(b) Inventories	577.468
(c) Trade receivables	50.062
(d) Cash and cash equivalents	11.468
(e) Short-term loans and advances	2.302
(f) Other current assets	49.834
Total Current Assets	691.134
TOTAL	1,049.326

SOURCES OF FUNDS		31.03.2012	31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		79.408	78.480
2] Share Application Money		0.000	12.575
3] Reserves & Surplus		383.941	293.700
4] (Accumulated Losses)		0.000	0.000
NETWORTH		463.349	384.755
LOAN FUNDS
1] Secured Loans		392.598	434.157
2] Unsecured Loans		62.000	52.000
TOTAL BORROWING		454.598	486.157
DEFERRED TAX LIABILITIES		12.730	9.478
TOTAL		930.677	880.390
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		251.499	221.421
Capital work-in-progress		2.407	0.828
INVESTMENT		0.000	2.150
DEFERREX TAX ASSETS		6.339	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	560.701	542.675
	Sundry Debtors	20.369	70.934
	Cash & Bank Balances	12.123	12.274
	Other Current Assets	35.044	147.114
	Loans & Advances	117.085	13.138
Total Current Assets		745.322	786.135
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4.315	18.764
	Other Current Liabilities	56.864	107.927
	Provisions	13.711	4.500
Total Current Liabilities		74.890	131.191
Net Current Assets		670.432	654.944
MISCELLANEOUS EXPENSES		0.000	1.047
TOTAL		930.677	880.390

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Operating revenue, net	2580.198	3111.313	3167.813
		Other Income	6.172	0.065	34.514
		Deferred Tax	0.000	--	--
		TOTAL (A)	2586.370	3111.378	3202.327
Less	EXPENSES
		Consumption materials changes inventories	0.000	--	2251.118
		Contract cost	0.000	--	2.880
		Administrative selling other expenses	0.000	--	714.834
		Employee related expenses	94.161	82.882	60.678
		Purchases of stock-in-trade	2037.004	2427.238	--
		Other expenses	363.603	437.926	--
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(16.767)	(18.026)	--
		TOTAL (B)	2478.001	2930.020	3029.510
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		108.369	181.358	172.817
Less	FINANCIAL EXPENSES (D)		52.635	54.411	45.198
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		55.734	126.947	127.619
Less/ Add	DEPRECIATION/ AMORTISATION (F)		21.360	19.652	13.111
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		34.374	107.295	114.508
Less	TAX (H)		11.215	34.700	38.394
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		23.159	72.595	76.114
	Earnings / (Loss) Per Share (Rs.)		2.93	9.19	9.71

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.90	2.33	2.38
Net Profit Margin (PBT/Sales)	(%)	1.33	3.45	3.61
Return on Total Assets (PBT/Total Assets}	(%)	3.30	10.76	11.36
Return on Investment (ROI) (PBT/Networth)		0.07	0.23	0.30
Debt Equity Ratio (Total Debt/Networth)		0.93	0.98	1.26
Current Ratio (Current Asset/Current Liability)		1.47	7.95	5.99

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Sales	3,167.813	3,111.313	2,580.198
		(1.784)	(17.070)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Sales	3,167.813	3,111.313	2,580.198
Profit After Tax	76.114	72.595	23.159
	2.40%	2.33%	0.90%

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	No
10]	Designation of contact person	No
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	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	Yes
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	Yes

NOTE:

The registered office of the company has been shifted from 93/C, 1^st Main, 2^nd Stage, Industrial Suburb, Gorgunte Palya (Behind MEI), Yeshwanthpur, Bangalore – 560 022, Karnataka, India to the present address w.e.f. 29.07.2009.

Unsecured Loan

Particulars	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long term borrowing
Intercorporate borrowings	10.000	12.000
Loans and advances from related parties	50.000	50.000
TOTAL	60.000	62.000

VIEW INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10473660	20/12/2013	700,000.00	HDFC BANK LTD	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B94740495
2	10456846	26/09/2013	741,000.00	HDFC BANK LTD	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B88188719
3	10456845	02/09/2013	739,000.00	HDFC BANK LTD	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B88187414
4	10442380	25/07/2013	2,588,201.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B81855272
5	10380828	21/09/2012	460,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B59793596
6	10312170	29/09/2011	1,650,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B23252075
7	10311762	25/08/2011	3,488,400.00	Axis Bank Limited	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G  ARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, IN  DIA	B23154396
8	10304748	20/08/2011	1,650,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B19846203
9	10284758	26/04/2011	2,160,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	B12305546
10	10219126	28/08/2013 *	580,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL  W, MUMBAI, Maharashtra - 400013, INDIA

* Date of charge modification

FINANCIAL PERFORMANCE:

During the year the Company has recorded gross revenue of Rs. 2924.180 Millions reduced by 16.81% are compared to Rs. 3515.091 Millions in previous year ending 31.03.2012. due to slow down in market.

Net Profit after taxation of the company for the financial year is Rs. 23.159 Millions compared to the corresponding previous year was Rs. 72.595 Millions. The Net Profit after the taxes has come down by 68.10% .

Over the previous Financial Year due to maintainece cost of o stores. The Company has transferred its entire profit to its reserves and Surplus.

FUTURE OUT LOOK:

(a) Branches/Sales Force:

During the year, the Company has been expanding its operations by opening the Show rooms within the state of Karnataka as well as in Andhra Pradesh, it has been expanding its sales force to meet its increasing demand for the products; In the Financial year 2012-13 the Company has opened 2 show rooms in Karnataka one in Hyderabad. Company has closed two show rooms in Chennai, one in Hyderabad and one in Karnataka due to maintainace cost of these stores are very high compare the margins of these stores. Company has made Rental Advance for Vijayanagar store in Bangalore in Karnataka and Planning for opening 5 Stores.

(b)Product Range:

The Company has been increasing its products range to meet the customers demand. It has exclusive show rooms for products brands like LG, Sony and Samsung. This year the Company is planning to introduce some more new brands into the stores for availing business opportunities. The main aim of the Company is, to be the leader in retail trading of Electronic/consumer goods in the years to come.

(c) Company Prospects:

The Company still be the front-runner in the marketing of consumer durables and has established its identity in the electronic and consumer goods. Company is planning to start IT and Mobile Products in addition to existing products.

(d) Details of Changes Occurred during the period affecting Company business operations:

During the year there is no operation of Company which effects the Company business operations

FIXED ASSETS:

• Vehicle
• Office Equipments
• Computers
• Furniture
• Buildings
• Land
• Software
• Commercial Rights

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.60.38
UK Pound	1	Rs.101.63
Euro	1	Rs.83.57

INFORMATION DETAILS

Information Gathered by :	NVA
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.