MIRA INFORM REPORT

Report Date :

15.02.2014

IDENTIFICATION DETAILS

Name :	AARADHAK COMMERCIAL VENTURES PRIVATE LIMITED
Registered Office :	Gala No. 23, 2nd Floor, Y.A. Chunawala Industrial, Estate, Kondivita Lane, Andheri (East), Mumbai – 400069, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	25.06.2012
Com. Reg. No.:	11-232589
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U74900MH2012PTC232589
Legal Form :	Private Limited Liability Company
Line of Business :	To carry on the business of advisors on the development, administration and organization of industry, business, projects, trade and provide support for an efficient system of financial planning and control; fair and effective management of human resources; information technology services; and coordination of communication practices and to advise upon the means and methods for extending, developing and improving businesses or industries and systems or processes relating to the production, purchase, storage, distribution, marketing and sale & purchase of goods and/or relating to the rendering and/or hiring of services and data processing techniques.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

The worst is over for India’s economy with gross domestic product likely to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s Analytics. Concerns over the rupee and current account deficit are under control, said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up from the estimated 4.8 % for 2013/14.  Total economic growth, infrastructure bottlenecks and lack of transparency and consistency in foreign direct investment policies seem to have taken a toll on India’s attractiveness as an investment destination, says an Ernst & Young survey.  Projects with FDI component fell 16.4 % across the globe in 2012 from the previous year.  The drop in India was steeper at 21 %. State run carrier Air India is doling out free tickets to its 24000 employees, even as it expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared to with a year earlier. The National  Capital Region has a one-fourth share in total jobs created, according to a study by industry lobby group Assochem, Banks, real estate, automobile and telecommunications sectors are showing a rise of job creation. $ 805 mn investments by venture capital firms in India during 2013, registering a drop of about 18 % over the previous year. The Information Technology and IT-Enabled  Services Industry retained its status as the favourable venture capital investors in 2013. Pakistan has temporarily banned gold imports for the second time in six months, as it tries to stem smuggling into India. India’s import duty on gold is 10 % and curbs on purchases have dried up legal imports into what used to be the world’s biggest bullion buyers. The World Gold Council puts the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits estimated to be about Rs 35000 mn be used for education and awareness among depositors.  According to the plan, deposits that have not been claimed for at least 10 years will be transferred to the scheme.

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 :	Gala No. 23, 2nd Floor, Y.A. Chunawala Industrial, Estate, Kondivita Lane, Andheri (East), Mumbai – 400069, Maharashtra
Tel. No. :	Not Available
Fax No. :	Not Available
E-Mail :	cs.services2all@gmail.com

DIRECTORS

As on 31.03.2013

Name :

Mr. Maheshkumar Girdhar Dingliwal

Designation :

Director

Address :

703 Sonam Tower, E-Wing, New Goldan Nest, Opposite Mitthalal, Jain Bunglow, Mira Road (East) Thane – 401105, Maharashtra, India

Date of Birth/Age :

28.10.1976

Date of Appointment :

10.09.2012

DIN No. :

03375357

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	U51109MH2011PTC215517	Shri SGoyal Trading & Exports Private Limited	Director	29/03/2011	29/03/2011	20/05/2013	Active	NO
2	U70200MH2007PTC172957	Ujjain Future Bazaar Private Limited	Director	28/09/2012	30/08/2012	-	Active	NO
3	U74900MH2012PTC232589	Aaradhak Commercial Ventures Private Limited	Director	10/09/2012	10/09/2012	-	Active	NO
4	U74999MH2010PLC203778	nuFuture Haribhakti Business Services Limited.	Director	30/09/2013	04/06/2013	-	Active	NO
5	U74120MH2012PTC231352	Grihith Trade Ventures Private Limited	Director	28/12/2013	28/12/2013	-	Active	NO
6	U70102MH2014PTC253097	Legitimate Assets Operators Private Limited	Director	11/02/2014	11/02/2014	-	Active	NO

Name :

Mr. Sanjay Shyamsunder Seksaria

Designation :

Director

Address :

31, Maheshwar Niketan, 7th Floor G. Deshmukh Marg, Pedder Road, Mumbai – 400026,Maharashtra, India

Date of Birth/Age :

06.01.1961

Date of Appointment :

31.08.2012

DIN No. :

00111096

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	U92100MH1977PTC019733	ANURADHA FILMS PRIVATE LIMITED	Director	27/02/1980	27/02/1980	-	Active	NO
2	U74990MH1973PTC016995	GOURI STUDIO PRIVATE LIMITED	Director	26/06/1980	26/06/1980	-	Active	NO
3	U32200MH1982PTC028754	SPECTRA VIDEO PRIVATE LIMITED	Director	04/06/1984	04/06/1984	-	Under liquidation	NO
4	U92100MH1948PTC006194	SELECT TRADING AND CINE FILMS PRIVATE LIMITED	Director	30/05/1989	30/05/1989	-	Active	NO
5	U18100MH1991PTC063857	IMAGE APPARELS PRIVATE LIMITED	Director	14/07/1994	14/07/1994	-	Active	NO
6	U92114MH1996PTC101167	IMAGE ENTERTAINMENT PRIVATE LIMITED	Director	17/07/1996	17/07/1996	-	Strike off	NO
7	U92112WB2002PLC094816	BOMBAY TALKIES ENTERTAINMENT LIMITED	Director	17/07/2002	17/07/2002	-	Active	NO
8	U70200MH2005PTC152322	ABACUS REALTY LOGISTICS PRIVATE LIMITED	Director	31/03/2005	31/03/2005	-	Active	NO
9	L51900MH1981PLC024988	GALAXY ENTERTAINMENT CORPORATION LIMITED	Whole-time director	30/07/2005	30/07/2005	30/06/2009	Active	NO
10	U15130MH2005PTC156326	RAIN FRUITS AND MORE PRIVATE LIMITED	Nominee director	26/09/2005	26/09/2005	30/03/2010	Active	NO
11	U72100MH2000PTC125840	GALAXY RAIN RESTAURANTS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	30/06/2009	Active	NO
12	U15110MH2000PLC125868	GALAXY LIFESTYLE RESTAURANTS LIMITED	Director	30/09/2005	30/09/2005	-	Amalgamated	NO
13	U93020MH2006PTC166332	Splendor Fitness Private Limited	Director	30/09/2008	09/07/2008	-	Active	NO
14	U70102MH2010PTC198299	SECOND LIFE PROJECTS PRIVATE LIMITED	Director	02/01/2010	02/01/2010	-	Active	NO
15	U52100MH2007PTC167268	Pairs Retail India Private Limited	Director	21/09/2010	04/01/2010	-	Active	NO
16	U70102MH2006PTC161883	Ishbhoomi Mall Management Private Limited	Director	28/09/2011	05/01/2011	-	Active	NO
17	U74999MH2011PTC219645	Counseled Mercantile Private Limited	Director	27/12/2012	19/07/2011	-	Active	NO
18	U65993MH1984PTC219556	AIGL HOLDING AND INVESTMENTS PRIVATE LIMITED	Additional director	13/09/2011	13/09/2011	-	Amalgamated	NO
19	U74900MH2012PTC232589	Aaradhak Commercial Ventures Private Limited	Director	31/08/2012	31/08/2012	-	Active	NO
20	AAB-4982	RADHEY SS REALTORS LLP	Designated Partner	02/05/2013	02/05/2013	30/07/2013	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 11.06.2012

Name of Shareholders	No. of Shares	%age
Nidhi Gupta	5000	50.00
Ashish Roongta	5000	50.00
Total	10,000	100.00

BUSINESS DETAILS

Line of Business :

To carry on the business of advisors on the development, administration and organization of industry, business, projects, trade and provide support for an efficient system of financial planning and control; fair and effective management of human resources; information technology services; and coordination of communication practices and to advise upon the means and methods for extending, developing and improving businesses or industries and systems or processes relating to the production, purchase, storage, distribution, marketing and sale & purchase of goods and/or relating to the rendering and/or hiring of services and data processing techniques.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
From Body Corporates	290.000
Total	290.000

NOTE:

Revolving / Overdraft facility of Rs 290.000 millions from ECL Finance Limited against pledge of shares of Future Ventures India Limited (63048254 Shares) and repayable within 12 months from date of signing of schedule term i.e. 25.10.2012. Rate of interest is 16% p.a. payable on quarterly basis.

Banking Relations :	--
Financial Institution :	ECL Finance Limited
Auditors :
Name :	Akhilesh K Pandey and Company Chartered Accountants
Address :	B-104, Dolphin Garden, Poonam Sagar Complex, Opposite Sector – 9, Mira Road (East), Thane – 401107, Maharashtra, India
Mobile No. :	91-9930998937
Email :	Ca.lokesh@outlook.com
PAN No. :	AAPFA6504J

CAPITAL STRUCTURE

As on 31.03.2013

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	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	(3.076)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	(2.976)
(3) Non-Current Liabilities
(a) long-term borrowings	0.000
(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)	0.000
(4) Current Liabilities
(a) Short term borrowings	672.750
(b) Trade payables	225.076
(c) Other current liabilities	11.458
(d) Short-term provisions	0.063
Total Current Liabilities (4)	909.347
TOTAL	906.371
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(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	703.203
(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	703.203
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	202.708
(d) Cash and cash equivalents	0.160
(e) Short-term loans and advances	0.300
(f) Other current assets	0.000
Total Current Assets	203.168
TOTAL	906.371

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2013
SALES
Income
Other Income
TOTAL		330.587
EXPENSES
Office Expenses
Administration Expenses
Advertising Expenses
TOTAL		333.600
PROFIT/ (LOSS) BEFORE TAX		(3.013)
TAX		0.063
PROFIT/ (LOSS) AFTER TAX		(3.076)
Earnings / (Loss) Per Share (Rs.)		(307.60)

KEY RATIOS

PARTICULARS		31.03.2013
PAT / Total Income	(%)	(0.93)
Return on Total Assets (PBT/Total Assets}	(%)	(1.48)
Return on Investment (ROI) (PBT/Networth)		1.012
Debt Equity Ratio (Total Debt/Networth)		(226.06)
Current Ratio (Current Asset/Current Liability)		0.22

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 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	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	Yes
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

NOTE:

The registered address of the company has been shifted from 317, 2^nd Floor, Room No. 12, Opposite Swadeshi Market, Kalbadevi Road, Mumbai – 400002, Maharashtra, India to the present address w.r.f 31.08.2012

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
From Body Corporates (Repayable Demand)	382.750
Total	382.750

INDEX OF CHARGES

No Charges Exist for Company

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.62.28
UK Pound	1	Rs.103.67
Euro	1	Rs.85.17

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		26

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.