MIRA INFORM REPORT

Report Date :

09.06.2014

IDENTIFICATION DETAILS

Name :	MANGAL TECH PARK PRIVATE LIMITED
Registered Office :	No.769, Anna Salai, Spencer Plaza, Chennai – 600002, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	16.12.2005
Com. Reg. No.:	18-058340
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U45201TN2005PTC058340
Legal Form :	Private Limited Liability Company
Line of Business :	Construction Activity
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. As claimed Mr. Shrinevasan, Accounts Department that company has not undertaken any business activities since its inception and it has no such plan to start with the activities. As per the status in the registrar of companies business appears to be active. Payment terms are unknown. The company can be considered for business dealings on fully safe and secured 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.

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. Shrinevasan
Designation :	Accounts Department
Contact No.:	91-44-28494949
Date :	05.06.2014

LOCATIONS

Registered Office :	No.769, Anna Salai, Spencer Plaza, Chennai – 600002, Tamilnadu, India
Tel. No. :	91-44-28494949
Fax No. :	Not Available
E-Mail :	accounts@mangaltirth.com

DIRECTORS

As on 30.09.2013

Name :

Mr. M Balasubramaniam Mahalingam

Designation :

Director

Address :

Old No. 3, New No. 7, 6^th Street, Nungambakkam Extn., Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

31.10.1952

Date of Appointment :

16.12.2005

DIN No. :

00063640

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	U65910TN1989PTC017135	INVESTWELL FINANCE AND LEASING PRIVATE LIMITED	Director	29/03/1989	29/03/1989	-	Active	NO
2	U52321TN1989PTC017645	ORIMEX EXPORT AND IMPORT PRIVATE LIMITED	Director	05/07/1989	05/07/1989	-	Active	NO
3	U74999TN1989PLC018308	PLAZA MAINTENANCE AND SERVICES LIMITED	Director	09/11/1989	09/11/1989	-	Active	NO
4	U65993TN1995PLC029786	INVESTWELL SHARE & STOCK BROKERS LIMITED	Director	09/01/1995	09/01/1995	-	Under Process of Striking off	NO
5	U70101TN1995PLC030843	INVESTWELL PROPERTY SERVICES LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
6	U70101TN1989PLC017386	MANGAL TIRTH ESTATE LIMITED	Whole-time director	01/04/2010	04/04/1997	-	Active	NO
7	U33111TN1986PTC013581	SANKARA SOFTWARE SERVICES PRIVATE LIMITED	Director	31/03/2000	31/03/2000	27/01/2009	Active	NO
8	U74140TN1978PTC007455	COSMAS CONSULTANCY & AGENCY PRIVATE LIMITED	Director	31/03/2000	31/03/2000	-	Active	NO
9	U70200TN2002PTC048594	CARNATIC REAL ESTATE PRIVATE LIMITED	Director	12/03/2002	12/03/2002	-	Strike off	NO
10	U26919TN1994PLC029359	GLOBE CERAMICS LIMITED	Director	27/09/2002	27/09/2002	-	Active	NO
11	U74999TN1996PTC034730	MADRAS BUSINESS SERVICE CENTRE PRIVATE LIMITED	Director	26/04/2004	26/04/2004	-	Active	NO
12	U70101TN2004PTC054946	BROOKEFIELDS ESTATES PRIVATE LIMITED	Director	16/12/2004	16/12/2004	-	Active	NO
13	U05001TN1994PLC029650	PENINSULA AQUAFARMS LIMITED	Director	23/12/2004	23/12/2004	-	Active	NO
14	U70101TN2005PTC055934	INVESTWELL ESTATES PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
15	U70101TN2005PTC055932	MELODY PROPERTIES PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
16	U70101TN2005PTC055933	HARMONY HOMES PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
17	U74999TN1998PLC040765	SYNERGY FACILITY MANAGEMENT AND SERVICES LIMITED	Director	25/09/2005	25/09/2005	-	Active	NO
18	U45201TN2005PTC058340	MANGAL TECH PARK PRIVATE LIMITED	Director	16/12/2005	16/12/2005	-	Active	NO

Name :

Ms. Punjabi Gayithri

Designation :

Director

Address :

Groun Floor, No. 5, Bishop Wallers Avenue Cast, Mylapore, Chennai – 600004, Tamilnadu, India

Date of Birth/Age :

04.04.1978

Date of Appointment :

16.12.2005

DIN No. :

01689991

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	U70101TN2005PTC056047	KG FOUNDATIONS PRIVATE LIMITED	Director	21/04/2005	21/04/2005	-	Active	NO
2	U45202TN2005PTC056186	KG PROMOTERS & DEVELOPERS PRIVATE LIMITED	Director	05/05/2005	05/05/2005	02/01/2008	Active	NO
3	U45201TN2005PTC058340	MANGAL TECH PARK PRIVATE LIMITED	Director	16/12/2005	16/12/2005	-	Active	NO
4	U72300TN2008PTC066454	TRICEN SOLUTIONS PRIVATE LIMITED	Director	14/02/2008	14/02/2008	-	Active	NO

Name :

Mr. Vijay Sadarangani Vishindas

Designation :

Director

Address :

No 4G, Pycrafts Garden Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

12.11.1970

Date of Appointment :

16.12.2005

DIN No. :

01785806

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	U74999MH1986PTC039297	ALPHA HEAT INTERCHANGE (INDIA) PVT LTD	Director	21/03/1996	21/03/1996	-	Active	NO
2	U70101TN1989PLC017386	MANGAL TIRTH ESTATE LIMITED	Whole-time director	01/04/2005	10/04/2000	-	Active	NO
3	U74140TN2004PTC054833	GOOD EASTERN TRADING CO.INDIA PRIVATE LIMITED	Director	23/02/2005	23/02/2005	-	Active	NO
4	U45202TN2005PTC057587	Avaneesh Properties Private Limited	Director	22/09/2005	22/09/2005	-	Converted to LLP and dissolved	NO
5	U85110TN2000PTC044792	DEVMANI BUILDERS PRIVATE LIMITED	Director	03/12/2005	03/12/2005	-	Converted to LLP and dissolved	NO
6	U45201TN2005PTC058340	MANGAL TECH PARK PRIVATE LIMITED	Director	16/12/2005	16/12/2005	-	Active	NO
7	U04520KA1988PTC009722	SHARAVATI REAL ESTATES PRIVATE LIMITED	Director	28/02/2006	28/02/2006	-	Active	NO
8	U52321TN1997PTC039204	PICK & WEAR FASHIONS PRIVATE LIMITED	Director	26/09/2006	26/09/2006	-	Strike off	NO
9	U36999TN1997PTC039126	KIDS MART (INDIA) PRIVATE LIMITED	Director	26/09/2006	26/09/2006	-	Strike off	NO
10	U45400TN2012PTC087914	MAPLEWOOD HOMES PRIVATE LIMITED	Director	03/10/2012	03/10/2012	-	Active	NO
11	AAB-7010	DEVMANI BUILDERS LLP	Body corporate as Designated Partner	12/08/2013	12/08/2013	-	Active	NO
12	AAB-7153	AVANEESH PROPERTIES LLP	Body corporate as Designated Partner	19/08/2013	19/08/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shrinevasan
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	%age
Mangal Tirth Estate Limited, India	4900	4.90
Vijay Sadarangani	2000	2.00
M Balasubramaniam Mahalingam	4000	4.00
Punjabi Gayithri	5000	5.00
Chellram N. Kiripalani	33050	33.05
Mona Sadarangani	31050	31.05
Kishore Gokaldas HUF	10000	10.00
Haresh Kishore	10000	10.00
Total	100000	100.00

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	5.00
Directors or relatives of Directors	62.00
Other top fifty shareholders	33.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Construction Activity

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	Not Divulged

Banking Relations :	--
Auditors :
Name :	V Rajalakshmi and Company Chartered Accountants
Address :	Unit G, 571/2, Hotel Planet Grande Office Complex, Anna Salai, Teynampet, Chennai – 600018, Tamilnadu, India
Tel. No. :	91-44-42040470 / 42074130
Mobile No. :	91-9841073233
Email :	brrconsultant@yahoo.com
PAN No. :	AEFPR2001B
Related Party :	Mangal Tirth Estate Limited, India

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

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	1.000	1.000	1.000
(b) Reserves & Surplus	17.359	35.078	33.686
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	18.359	36.078	34.686
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.003	0.005	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.410	0.000
Total Non-current Liabilities (3)	0.003	0.415	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.032	0.033	0.088
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	0.032	0.033	0.088
TOTAL	18.394	36.526	34.774
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(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	0.155	5.882	2.452
(e) Other Non-current assets	0.011	0.015	0.019
Total Non-Current Assets	0.166	5.897	2.471
(2) Current assets
(a) Current investments	0.083	0.084	0.083
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.030	0.453	32.220
(e) Short-term loans and advances	18.115	30.092	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	18.228	30.629	32.303
TOTAL	18.394	36.526	34.774

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES	NA	NA	NA
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	NA	NA	NA
Less	TAX	NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX	(17.719)	1.391	1.396
	Earnings / (Loss) Per Share (Rs.)	(177.19)	13.91	13.91

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt/Networth)	0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)	569.63	928.15	367.08

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	1.000	1.000	1.000
Reserves & Surplus	33.686	35.078	17.359
Net worth	34.686	36.078	18.359
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	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

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.59.20
UK Pound	1	Rs.99.52
Euro	1	Rs.80.83

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	KAR
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	--
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	--
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		11

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.