1. Summary Information

		Country	India
Company Name	SHRI MEENAKSHI FAN HOUSE PRIVATE LIMITED	Principal Name 1	Mr. Chidamaram N Saravanan
Status	Satisfactory	Principal Name 2	Mr. Saravanan Abirami
		Registration #	18- 055825
Street Address	282, West Masi Street, Madurai- 625001, Tamilnadu, India
Established Date	31.03.2005	SIC Code	--
Telephone#	91-452-4380008 / 4380009/ 4380004	Business Style 1	Dealers
Fax #	91-452-4380003	Business Style 2	Accessories
Homepage	http://www.Smft.accts@gmail.com	Product Name 1	House Hold Appliances
# of employees	100 (Approximately)	Product Name 2	Electrical
Paid up capital	Rs.2,753,340/-	Product Name 3	Electronic appliances.
Shareholders	Directors or relatives of Directors -100%	Banking	Canara Bank
Public Limited Corp.	No	Business Period	9 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (45)
Related Company -
Relation	Country	Company Name	CEO
Holding company			-
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	27,657,000	Current Liabilities	81,070,000
Inventories	123,148,000	Long-term Liabilities	74,348,000
Fixed Assets	75,768,000	Other Liabilities	17,271,000
Deferred Assets	0,000	Total Liabilities	172,689,000
Invest& other Assets	64,687,000	Retained Earnings	0,000
		Net Worth	118,571,000
Total Assets	291,260,000	Total Liab. & Equity	291,260,000
Total Assets (Previous Year)	267,240,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Total Sales (Approximately)	900,000,000	Net Profit	NA
Total Sales(Previous yr)	979,552,000	Net Profit(Prev.yr)	10,039,000

MIRA INFORM REPORT

Report Date :

19.07.2014

IDENTIFICATION DETAILS

Name :	SHRI MEENAKSHI FAN HOUSE PRIVATE LIMITED
Registered Office :	282, West Masi Street, Madurai- 625001, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	31.03.2005
Com. Reg. No.:	18- 055825
Capital Investment / Paid-up Capital :	Rs. 2.753 Millions
CIN No.: [Company Identification No.]	U52334TN2005PTC055825
TAN No.: [Tax Deduction & Collection Account No.]	MRIS03467C
Legal Form :	Private Limited Liability Company
Line of Business :	Dealers of Household electrical as well as electronic appliances and accessories.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 470000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. General financial position of the company seems to be sound and healthy. Trade relations are fair. Business is active. Payments terms are reported to be usually correct. Company can be considered for business dealings at usual trade terms and conditions.

Note: As claimed by Mr. Chidambaram, Director that subject company has changed its line of business. Earlier they are into exporting and importing of Household electrical as well as electronic appliances and Accessories. However, Subject Company is now dealer of household electrical as well as electronic appliances and accessories and they have several agencies like LG, SONY SAMSUNG ETC.

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

N E W S

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

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

Name :	Mr. Chidamaram
Designation :	Director
Contact No.:	91-9894774045
Date :	15.07.2014

LOCATIONS

Registered Office :	282, West Masi Street, Madurai- 625001, Tamilnadu, India
Tel. No.:	91-452-4380008 / 4380009/ 4380004
Fax No.:	91-452-4380003
E-Mail :	Smft.accts@gmail.com
Website:	http://www.Smft.accts@gmail.com

DIRECTORS

As on 30.09.2013

Name :

Mr. Chidamaram N Saravanan

Designation :

Managing Director

Address :

282 West Masi Street, Madurai-625001, Tamilnadu, India

Date of Birth/Age :

02.04.1965

Date of Appointment :

31.03.2005

DIN No:

01907212

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	U50401TN2004PTC054013	SRI MEENAKSHI MOTORS PRIVATE LIMITED	Director	19/08/2004	19/08/2004	-	Active	NO
2	U52334TN2005PTC055825	SHRI MEENAKSHI FAN HOUSE PRIVATE LIMITED	Managing director	31/03/2005	31/03/2005	-	Active	N

Name :

Mr. Saravanan Abirami

Designation :

Director

Address :

282 West Masi Street, Madurai-625001, Tamilnadu, India

Date of Birth/Age :

19.03.1973

Date of Appointment :

31.03.2005

DIN No:

02404602

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
C N Saravanan	239134
S Abirami	36200
Total	275334

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Dealers of Household electrical as well as electronic appliances and accessories.
Agencies Held :	· L.G · Sony · Samsung
Terms :
Selling :	Cash
Purchasing :	Cash

GENERAL INFORMATION

Customers :

Wholesalers, Retailers, End Users

No. of Employees :

100 (Approximately)

Bankers :

Indian Bank, Own Hall Road Branch, Madurai- 625001, Tamil Nadu, India

Canara Bank, 24, Town Hall Road, Madurai - 625001, Tamil Nadu, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
SHORT TERM BORROWINGS
Term loan for building	1.097	5.499
Rs.86 Lacs, Term Loan Borrowed from Indian Bank repayable in 36 monthly installments starting from june 2011 and last installment falling due on may 2014.The loan is primarily secured by mortgage of Dindigul Building (asset created out of term loan)and collaterally secured by land and building situated at door no.10/B/1/H/2 & 10-B/1H/3 block no.17,Town survey ward No.6, T S No.12(part) & 13 (part) corporation ward no.8, Trivandrumroad, Palayamkottai, Tirunelveli . The Directors C.N.Saravanan and S. Abirami stand as guarantors to the loan.
SHORT TERM BORROWINGS
Cash Credit- Indian Bank
Working capital loans repayable on demand (secured by hypothecation of stocks and book debts) both present and future, as per the agreement executed by the Company. The loan has been guaranteed by the the Managing Director C.N.Saravanan and Director S.Abirami	38.951	40.676
Total	40.048	46.175

Banking Relations :	---
Auditors :
Name :	S L S M and Company Chartered Accountant
Address :	261E, 2nd Floor, Goodsshed Street, Madurai, Tamil Nadu- 625001, India
PAN No.:	AAAFL5948A

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
275334	Equity Shares	Rs.10/- each	Rs.2.753 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2.753	2.753	2.753
(b) Reserves & Surplus	115.738	95.864	77.345
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.080	0.080	0.080
Total Shareholders’ Funds (1) + (2)	118.571	98.697	80.178
(3) Non-Current Liabilities
(a) long-term borrowings	35.397	39.799	39.000
(b) Deferred tax liabilities (Net)	1.361	0.993	0.512
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	36.758	40.792	39.512
(4) Current Liabilities
(a) Short term borrowings	38.951	41.064	36.148
(b) Trade payables	72.202	71.977	49.297
(c) Other current liabilities	8.868	3.459	1.786
(d) Short-term provisions	15.910	11.251	6.796
Total Current Liabilities (4)	135.931	127.751	94.027
TOTAL	291.260	267.240	213.717
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	72.407	62.493	39.862
(ii) Intangible Assets	3.361	5.000	7.500
(iii) Capital work-in-progress	1.692	2.892	9.403
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	27.657	18.514	16.643
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	105.117	88.899	73.408
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	123.148	121.778	91.613
(c) Trade receivables	38.293	36.315	35.953
(d) Cash and cash equivalents	4.591	3.138	3.271
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	20.111	17.110	9.472
Total Current Assets	186.143	178.341	140.309
TOTAL	291.260	267.240	213.717

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	900.00 (Approximately) Confirm by management	979.552	826.094
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	20.731	17.918
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		NA	958.821	808.176
Less/ Add	DEPRECIATION/ AMORTISATION		NA	5.411	4.912
	PROFIT BEFORE TAX		NA	15.320	13.006
Less	TAX		NA	5.281	4.862
	PROFIT AFTER TAX		NA	10.039	8.144
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	29.348	22.505
	BALANCE CARRIED TO THE B/S		NA	39.387	29.348
	Earnings Per Share (Rs.)		NA	36.46	-

Particulars	31.03.2014
Sales Turnover (Approximately)	900.000

The above information has been parted by Mr. Chidamaram

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	1.02	0.99
Return on Total Assets (PBT/Total Assets}	(%)	NA	5.80	6.37
Return on Investment (ROI) (PBT/Networth)		NA	0.16	0.16
Debt Equity Ratio (Total Debt /Networth)		0.63	0.82	0.94
Current Ratio (Current Asset/Current Liability)		1.37	1.40	1.49

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	2.753	2.753	2.753
Reserves & Surplus	77.345	95.864	115.738
Share Application money pending allotment	0.080	0.080	0.080
Net worth	80.178	98.697	118.571
long-term borrowings	39.000	39.799	35.397
Short term borrowings	36.148	41.064	38.951
Total borrowings	75.148	80.863	74.348
Debt/Equity ratio	0.937	0.819	0.627

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 four 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	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]	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

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10205586	23/09/2013 *	68,600,000.00	Indian Bank	TOWN HALL ROAD BRANCH, MADURAI, Tamil Nadu - 62500  1, INDIA	B89547319
2	10079128	19/11/2007	5,000,000.00	3i Infotech Trusteeship Services Limited	No.74, 3rd Floor, Chettiar Hall, T.T.K. Alwarpet,  Chennai, Tamil Nadu - 600018, INDIA	A28332781

* Date of charge modification

UNSECURED LOAN

(In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING:
Series -I Debentures-21500 Debentures at an issue price of Rs.200/-each 11,500 Convertible Debentures issued on 31/03/2006 convertible into equity on 30/03/2021 (15 years from issue date) 10,000 Convertible Debentures issued on 19/07/2005 convertible into equity on 18/07/2020 (15 years from issue date)	4.300	4.300
New Series Debentures-30000 zero coupon convertible debentures at an issue price of Rs1000/- each 3,000 Convertible Debentures issued on 31/12/2009 convertible into equity on 30/12/2018 (9 years from issue date)	30.000	30.000
SHORT TERM BORROWINGS
ICICI Bank -OD account	-	0.388
Total	34.300	34.688

FIXED ASSETS

• Building decoration
• Plant and Machinery
• Furniture and Fixture
• Computer
• Vehicles

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 records 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.60.22
UK Pound	1	Rs.102.79
Euro	1	Rs.81.95

INFORMATION DETAILS

Information Gathered by :	JML
Analysis Done by :	KAR
Report Prepared by :	JGT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
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	5
--CREDIT LINES	1~10	5
--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		45

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.