MIRA INFORM REPORT

Report Date :

28.06.2014

IDENTIFICATION DETAILS

Name :	OZONE PROJECTS PRIVATE LIMITED
Registered Office :	New No.63, G.N. Chetty Road, T. Nagar, Chennai – 600017, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	13.07.2005
Com. Reg. No.:	18-056894
Capital Investment / Paid-up Capital :	Rs. 1435.770 Millions
CIN No.: [Company Identification No.]	U70101TN2005PTC056894
PAN No.: [Permanent Account No.]	AAACO7589D
Legal Form :	Private Limited Liability Company
Line of Business :	Construction Activity
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 6800000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is an established company having moderate track record. The rating reflects company’s moderate financial risk profile marked by low reserves and thin profitability levels of the company. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some caution.

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.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Non-convertible Debenture = BB+ (SO)
Rating Explanation	Inadequate degree of safety and high credit risk.
Date	May 19, 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.: 91-44-66869999)

LOCATIONS

Registered Office/ Branch Office 1 :	New No.63, G.N. Chetty Road, T. Nagar, Chennai – 600017, Tamilnadu, India
Tel. No.:	91-44-28151531/ 43931500
Fax No.:	91-44-28151530
E-Mail :	cs@ozonegroup.com
Website :	http://www.ozonegroup.com
Head Office :	#38 Ulsoor Road, Bangalore – 560042, Karnataka, India
Tel. No.:	91-80-40395600
Fax No.:	91-80-25325561
E-Mail :	info@ozonegroup.com
Branch Office 2 :	F-3, Villa Sol, La Campala Colony, Miramar, Panjim - 403001, Goa, India
Tel. No.:	91-832-2461680
Fax No.:	91-832-2461681

DIRECTORS

AS ON 30.09.2013

Name :

Vasudevan Sathyamoorthy

Designation :

Managing director

Address :

G‐2, 34, Sona Palace, Norris Road, Richmond Town, Bangalore ‐ 560025, Karnataka, India

Date of Birth/Age :

15.12.1967

Qualification :

B. Arch

Experience :

24 Years

Date of Appointment :

02.03.2006

PAN No.:

AGDPS5395M

DIN No.:

00022732

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	U85110KA1993PTC014087	TUSCAN CONSULTANTS AND DEVELOPERS PRIVATE LIMITED	Director	09/03/1993	09/03/1993	-	Active	NO
2	U85110KA1994PTC015253	TUSCAN PROPERTIES PRIVATE LIMITED	Director	22/02/1994	22/02/1994	-	Active	NO
3	U74140KA1998PTC023416	TUSCAN ENGINEERING CONSULTANCY SERVICES PRIVATE LIMITED	Director	24/02/1998	24/02/1998	-	Strike off	NO
4	U72200KA2000PTC026556	eSYMMETRYX TECHNOLOGIES PRIVATE LIMITED	Director	19/06/2000	19/06/2000	29/12/2007	Strike off	NO
5	U45203KA2004PTC033457	OZONE PROPERTIES PRIVATE LIMITED	Director	26/02/2004	26/02/2004	-	Active	NO
6	U74210KA2004PTC035015	OZONE PROPEX PRIVATE LIMITED	Managing director	01/04/2005	16/11/2004	-	Active	NO
7	U70101TN2005PTC056894	OZONE PROJECTS PRIVATE LIMITED	Managing director	02/03/2006	13/07/2005	-	Active	NO
8	U70109KA2006PTC039980	OZONE HOLDINGS PRIVATE LIMITED	Director	18/07/2006	18/07/2006	-	Active	NO
9	U70102KA2006PTC040226	OZONE DEVELOPERS BANGALORE PRIVATE LIMITED	Director	17/08/2006	17/08/2006	-	Active	NO
10	U45201KA2006PTC040692	OZONE LEISURE AND RESORTS PRIVATE LIMITED	Director	09/10/2006	09/10/2006	-	Active	NO
11	U45200KA1992PTC012791	OZONE CITY DEVELOPERS PRIVATE LIMITED	Director	29/09/2007	18/01/2007	-	Active	NO
12	U45209KA2006PTC038236	OZONE URBANA INFRA DEVELOPERS PRIVATE LIMITED	Director	29/09/2007	22/03/2007	-	Active	NO
13	U92490KA2004PTC034671	HANSOGE ENTERPRISES PRIVATE LIMITED	Director	25/09/2008	31/12/2007	15/09/2009	Active	NO
14	U45200KA2008PTC045424	OZONE LIFESTYLE PROJECTS PRIVATE LIMITED	Director	27/02/2008	27/02/2008	-	Active	NO
15	U74140KA2008PTC045737	SPG FACILITY MANAGEMENT PRIVATE LIMITED	Director	25/03/2008	25/03/2008	-	Active	NO
16	U45201KA2008PTC046895	OZONE INFRA CON PRIVATE LIMITED	Director	24/06/2008	24/06/2008	-	Active	NO
17	U45201KA2008PTC046894	OZONE REALTORS PRIVATE LIMITED	Director	24/06/2008	24/06/2008	-	Active	NO
18	U45200KA2008PTC046913	OZONE SHELTERS PRIVATE LIMITED	Director	25/06/2008	25/06/2008	-	Active	NO
19	U45200TN2008PTC068589	OZONE HOMES PRIVATE LIMITED	Director	16/07/2008	16/07/2008	-	Active	NO
20	U70102TN2008PTC069197	OZONE RETAIL DEVELOPMENT PRIVATE LIMITED	Director	08/09/2008	08/09/2008	-	Active	NO
21	U45201KA2009PTC050762	OZONE INFRA DEVELOPERS PRIVATE LIMITED	Director	28/08/2009	28/08/2009	-	Active	NO
22	U92413KA2010PTC052367	OZONEGROUP FOOTBALL ACADEMY PRIVATE LIMITED	Director	04/02/2010	04/02/2010	-	Active	NO
23	U45400KA2011PTC059511	TRUE LIVING SPACES PRIVATE LIMITED	Director	07/07/2011	07/07/2011	-	Active	NO
24	U67190KA2012PTC062378	CANNONBALL TREE ADVISORS PRIVATE LIMITED	Director	03/02/2012	03/02/2012	16/03/2012	Active	NO
25	AAB-0521	POSSESSION FOOTBALL LLP	Designated Partner	06/08/2012	06/08/2012	-	Active	NO

Name :

Chandanmal Pukhraj Bothra

Designation :

Director

Address :

No.14, 7th Cross, Jaibharathnagar, Bangalore ‐ 560033, Karnataka, India

Date of Birth/Age :

20.07.1955

Date of Appointment :

13.07.2005

PAN No.:

AAGPP9221Q

DIN No.:

00023108

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	U24232KA1973PLC002383	MEDREICH LIMITED	Managing director	01/04/2012	01/06/1990	-	Active	NO
2	U45203KA2004PTC033457	OZONE PROPERTIES PRIVATE LIMITED	Director	26/02/2004	26/02/2004	-	Active	NO
3	U74210KA2004PTC035015	OZONE PROPEX PRIVATE LIMITED	Director	16/11/2004	16/11/2004	-	Active	NO
4	U70101TN2005PTC056894	OZONE PROJECTS PRIVATE LIMITED	Director	13/07/2005	13/07/2005	-	Active	NO
5	U51909KA2005PTC036869	NOKHA TRADING PRIVATE LIMITED	Director	01/08/2005	01/08/2005	-	Active	NO
6	U65993KA2005PTC037256	NOKHA INVESTMENTS PRIVATE LIMITED	Director	16/09/2005	16/09/2005	25/01/2014	Active	NO
7	U24230KA2004PTC050438	MEDREICH CEPHTECH PRIVATE LIMITED	Nominee director	20/07/2006	20/07/2006	-	Amalgamated	NO
8	U24232KA2007PLC042361	ADCOCK INGRAM LIMITED	Managing director	20/02/2009	03/04/2007	01/04/2010	Active	NO
9	U24230KA2008PLC046164	GENOVO DEVELOPMENT SERVICES LIMITED	Nominee director	26/06/2008	23/04/2008	-	Active	NO
10	U24230KA2008PLC062782	MEDREICH LIFE CARE LIMITED	Nominee director	13/06/2008	06/06/2008	-	Active	NO

Name :

Mr. Parag Shantilal Parekh

Designation :

Nominee director

Address :

603, Indraprasth Neelkant Valley, Ghatkopar (East), Mumbai ‐ 400077, Maharashtra, India

Date of Birth/Age :

23.06.1961

Date of Appointment :

07.02.2014

DIN No.:

00015655

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	U51900MH1985PTC037459	TRENDSETTER INVESTMENTS PRIVATE LIMITED	Director	30/08/1991	30/08/1991	-	Active	NO
2	U57900MH1991PTC059721	PADMANABH TRADING PRIVATE LIMITED	Director	01/09/1993	01/09/1993	-	Active	NO
3	U99999MH1981PTC024891	MANALI TRADING AND HOLDINGS PRIVATE LIMITED	Director	25/02/1994	25/02/1994	-	Active	NO
4	U45201MH2000PLC150280	MUMBAI SEZ LIMITED	Director	30/12/2006	01/09/2005	-	Active	NO
5	U92100MH1942PTC003702	THE INDIAN FILM COMBINE PRIVATE LIMITED	Nominee director	29/10/2005	29/10/2005	-	Active	NO
6	U45200MH1989PTC052534	GAURAV OVERSEAS PRIVATE LIMITED	Director	30/11/2005	30/11/2005	30/04/2014	Active	NO
7	U99999MH1995PTC087074	LEGEND HOUSING PRIVATE LIMITED	Director	30/11/2005	30/11/2005	12/06/2014	Active	NO
8	U65990MH1989PTC054474	MATURE TRADING AND INVESTMENTS PRIVATE LIMITED	Director	30/09/2006	30/11/2005	-	Active	NO
9	U67190MH2005PLC158049	URBAN INFRASTRUCTURE VENTURE CAPITAL LIMITED	Managing director	21/10/2012	14/12/2005	-	Active	NO
10	U70102MH2004PLC148382	SKIL SEZ PROJECT DEVELOPMENT COMPANY LIMITED	Director	31/01/2006	31/01/2006	-	Amalgamated	NO
11	U70101TN2005PTC056894	OZONE PROJECTS PRIVATE LIMITED	Nominee director	07/02/2014	02/03/2006	-	Active	NO
12	U70100MH2006PTC159049	WESTWARD REALTY PRIVATE LIMITED	Nominee director	28/08/2006	28/08/2006	-	Active	NO
13	U45200MH2004PTC146973	NAVI MUMBAI SEZ PRIVATE LIMITED	Director	22/09/2006	22/09/2006	-	Active	NO
14	U74210KA2004PTC035015	OZONE PROPEX PRIVATE LIMITED	Nominee director	07/02/2014	12/01/2007	-	Active	NO
15	U70100MH2006PTC161745	ODYSSEY DEVELOPERS PRIVATE LIMITED	Director	26/09/2007	22/03/2007	01/10/2013	Active	NO
16	U45202MH2006PTC163895	NEELKANTH URBAN DEVELOPERS PRIVATE LIMITED	Director	29/09/2007	02/07/2007	-	Active	NO
17	U45200MH2007PTC166993	NIRMAL INFRASTRUCTURE Private LIMITED	Director	29/09/2007	25/08/2007	-	Active	NO
18	U70101KA2007PTC041666	PRESTIGE CONSTRUCTION VENTURES PRIVATE LIMITED	Director	04/08/2008	31/10/2007	07/01/2013	Active	NO
19	U70102KA1996PTC020293	PRESTIGE GARDEN ESTATES PRIVATE LIMITED	Director	30/09/2008	03/06/2008	-	Active	NO
20	U74140MH2008PLC187622	UI WEALTH ADVISORS LIMITED	Director	17/10/2008	17/10/2008	-	Active	NO

Name :

Mr. Keyur Sanat Shah

Designation :

Director

Address :

Flat No.11, 1st Floor, Beach Towers, Condominium, P. Balu Marg, Tata Press Road, Prabhadevi‐ VI, Mumbai ‐ 400025, Maharashtra, India

Date of Birth/Age :

11.07.1971

Date of Appointment :

29.09.2006

DIN No.:

00332145

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	U70101TN2005PTC056894	OZONE PROJECTS PRIVATE LIMITED	Director	29/09/2006	02/03/2006	-	Active	NO
2	U45201MH2006PTC165795	SIGNATURE BUNGLOWS PRIVATE LIMITED	Nominee director	30/01/2007	30/01/2007	14/09/2012	Active	NO
3	U04520MH2005PTC239507	GODREJ NANDHI HILLS PROJECT PRIVATE LIMITED	Director	23/07/2008	23/07/2008	18/03/2011	Active	NO
4	U04520GJ2005PTC073518	UDHAY-JVG REALTY PRIVATE LIMITED	Additional director	21/12/2011	14/08/2009	27/12/2011	Amalgamated	NO
5	U04520GJ2005PTC072046	UDHAY-VJ REALTY PRIVATE LIMITED	Additional director	21/12/2011	14/08/2009	27/12/2011	Active	NO
6	U70104MH1935PLC002249	SHREENIWAS COTTON MILLS LIMITED	Nominee director	08/11/2010	20/09/2010	-	Active	NO
7	U70200KA2011PTC057054	SUMMIT DEVELOPMENTS PRIVATE LIMITED	Alternate director	14/12/2011	14/12/2011	-	Active	NO
8	U70102MH2008PTC177239	AGILE REAL ESTATE PRIVATE LIMITED	Alternate director	10/03/2014	14/12/2011	-	Active	NO
9	U85110KA1995PTC017949	SWIRE INVESTMENTS PRIVATE LIMITED	Alternate director	27/04/2012	27/04/2012	-	Active	NO
10	U85110KA1995PTC017950	NAM ESTATES PRIVATE LIMITED	Alternate director	27/04/2012	27/04/2012	-	Active	NO
11	U45200MH1995PTC088201	ASCENT CONSTRUCTION PRIVATE LIMITED	Director	26/09/2013	26/12/2012	-	Active	NO

Name :

Mathew Joseph

Designation :

Director

Address :

6‐B, 6th Floor, Rosemere Apartment, 18, Harrington Road, Chetpet, Chennai ‐ 600031, Tamilnadu, India

Date of Birth/Age :

06.05.1961

Date of Appointment :

29.09.2006

DIN No.:

01033802

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	U65920MH2004PTC144182	HDFC SALES PRIVATE LIMITED	Nominee director	18/05/2004	18/05/2004	-	Active	NO
2	U70101TN2005PTC056894	OZONE PROJECTS PRIVATE LIMITED	Director	29/09/2006	02/03/2006	-	Active	NO
3	U45201TN1998PTC039924	MAGNUM FOUNDATIONS PRIVATE LIMITED	Director	11/05/2007	11/05/2007	-	Active	NO
4	U65991TN1996PLC036866	TAMILNADU URBAN INFRASTRUCTURE TRUSTEE COMPANY LIMITED	Director	27/06/2008	27/06/2008	-	Active	NO
5	U91110MH1998NPL113558	INDIAN ASSOCIATION FOR SAVINGS AND CREDIT	Director	20/09/2010	19/04/2010	26/09/2012	Active	NO
6	U65100TN2009PTC070519	VAYANA PRIVATE LIMITED	Nominee director	19/04/2011	19/04/2011	-	Active	NO
7	U65923TN2008PTC069807	SURYODAY MICRO FINANCE PRIVATE LIMITED	Nominee director	26/02/2013	26/02/2013	-	Active	NO
8	U72900TN2013PTC091483	STERLING SOFTWARE PRIVATE LIMITED	Additional director	10/12/2013	10/12/2013	06/01/2014	Active	NO

KEY EXECUTIVES

Name :	Anupa Sengupta
Designation :	Secretary
Address :	Flat No. 103, 1st Floor, Niranjana Maxima Apartment, Arekare, Bangalore ‐ 560076, Karnataka, India
Date of Birth/Age :	01.02.1987
Date of Appointment :	11.05.2013
PAN No.:	BWJPS4507G
Name :	Mr. Ravi Rangachari
Designation :	President Operations
Date of Birth/Age :	56 Years
Qualification :	B. Tech Civil
Experience :	31 Years

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Ozone Propex Private Limited, India	62216577	43.33
HDFC Ventures Trustees Company Limited, India	35894300	25.00
Urban Infrastructure Trustees Limited, India	21536600	15.00
Urban Infrastructure Real Estate Fund, Mauritius	21536590	15.00
Sharanya Trading Private Limited, India	1435800	1.00
Jai Corp Limited, India	957133	0.67
Total	143577000	100.00

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	15.00
Bodies corporate	85.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Construction Activity

Products/ Services :

ITC Code No.	Product Descriptions
99531129	Multi-Dwelling Residential Buildings

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Housing Development Finance Corporation Limited

Ramon House 169, Backbay Reclamation, H T Parekh Marg, Mumbai - 400020, Maharashtra, India

· State Bank of India

Industrial Finance Branch, 61, Residency Plaza, Residency Road, Bangalore - 560025, Karnataka, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Term loans from Banks [Secured by equitable mortgage of unsold stock in property financed]	6379.932	0.000
Term loans from Others [Secured by equitable mortgage of unsold stock in property financed]	0.000	7589.648
Other loans and advances	0.000	0.352
Total	6379.932	7590.000

Banking Relations :	--
Financial Institutions :	· Il and FS Trust Company Limited Il and FS Financial Centre, Plot No C22, G Block, Bandra, Kurla Complex, Bandra [East], Mumbai - 400051, Maharashtra, India · Udhay-GK Realty Private Limited Hdfc House 51, Kasturba Road, Bangalore - 560001, Karnataka, India
Auditors :
Name :	CNGSN and Associates Chartered Accountants
Address :	"Agastyar Manor", New No.20, Old No.13, Raja Street, T. Nagar, Chennai – 600017, Tamilnadu, India
Income-tax PAN of auditor or auditor's firm :	AADFC5571B
Associates :	· Ozone Propex Private Limited [U74210KA2004PTC035015] · Tuscan Consultants And Developers Private Limited · Urban Infrastructure Trustees Private Limited · Jai Corp Limited · Sharanya Trading Private Limited · Urban Infrastructure Real Estate Fund
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	HDFC Ventures Trustee Company Limited [U65991MH2004PLC149329]

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
150,000,000	Equity Shares	Rs. 10/- each	Rs. 1500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
143,577,000	Equity Shares	Rs. 10/- each	Rs. 1435.770 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	1435.770	1435.770	1435.770
(b) Reserves & Surplus	272.248	262.235	178.064
(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)	1708.018	1698.005	1613.834
(3) Non-Current Liabilities
(a) long-term borrowings	6379.932	7590.000	3929.182
(b) Deferred tax liabilities (Net)	3.250	3.600	3.545
(c) Other long term liabilities	1000.000	911.000	850.000
(d) long-term provisions	7.404	5.068	3.404
Total Non-current Liabilities (3)	7390.586	8509.668	4786.131
(4) Current Liabilities
(a) Short term borrowings	12.935	0.000	0.000
(b) Trade payables	260.554	37.058	95.201
(c) Other current liabilities	7073.439	6664.508	6551.454
(d) Short-term provisions	8.076	41.098	82.909
Total Current Liabilities (4)	7355.004	6742.664	6729.564
TOTAL	16453.608	16950.337	13129.529
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	43.152	46.322	50.115
(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	1065.161	1415.233	1247.420
(e) Other Non-current assets	15081.484	14915.964	11416.213
Total Non-Current Assets	16189.797	16377.519	12713.748
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	58.684	68.834	151.470
(e) Short-term loans and advances	201.694	443.587	134.173
(f) Other current assets	3.433	60.397	130.138
Total Current Assets	263.811	572.818	415.781
TOTAL	16453.608	16950.337	13129.529

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations	3341.393	1175.381	1269.397
		Other Income	28.093	80.765	17.646
		TOTAL	3369.486	1256.146	1287.043
Less	EXPENSES
		TOTAL	3352.912	1132.721	1022.965
	PROFIT BEFORE TAX		16.574	123.425	264.078
Less	TAX		6.561	39.255	86.070
	PROFIT AFTER TAX		10.013	84.170	178.008
	Earnings Per Share (Rs.)		0.07	0.59	1.24

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.30	6.70	13.83
Net Profit Margin (PBT/Sales)	(%)	0.50	10.50	20.80
Return on Total Assets (PBT/Total Assets}	(%)	0.10	0.73	2.01
Return on Investment (ROI) (PBT/Networth)		0.01	0.07	0.16
Debt Equity Ratio (Total Debt/Networth)		3.74	4.47	2.43
Current Ratio (Current Asset/Current Liability)		0.04	0.08	0.06

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	1435.770	1435.770	1435.770
Reserves & Surplus	178.064	262.235	272.248
Net worth	1613.834	1698.005	1708.018
long-term borrowings	3929.182	7590.000	6379.932
Short term borrowings	0.000	0.000	12.935
Total borrowings	3929.182	7590.000	6392.867
Debt/Equity ratio	2.435	4.470	3.743

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1269.397	1175.381	3341.393
		(7.406)	184.282

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1269.397	1175.381	3341.393
Profit	178.008	84.170	10.013
	14.02%	7.16%	0.30%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last 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	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	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

LITIGATION DETAILS

CHENNAI COURT

CASE STATUS INFORMATION SYSTEM

Case Status:	Pending
Status Of:	CIVIL SUITS
Case No.:	553
Year :	2012
Petitioner :	TAMUN IMPEX COMPANY
Respondent :	OZONE PROJECTS PRIVATE LIMITED
Pet's Advocate :	N.ISHTIAQAHMED
Res's Advocate :
Category :	Permanent Injuction
	Last Listed on: No Date Mentioned
Case Updated on :	Dec 18 2012
No Connected Application(s)	No Connected Matter(s)

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10495709	16/05/2014	1,730,000,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTRE, PLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA  - 400051, INDIA	C04524955
2	10302609	21/05/2014 *	8,760,000,000.00	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	RAMON HOUSE 169 BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA	C06404909

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Loans and advances from related parties	12.935	0.000
Total	12.935	0.000

OPERATIONS OF THE COMPANY:

The project ‘The Metrozone’ has achieved substantial progress during the year. Almost five towers of the project have been completed and handing over of the units for fit out to the customer has commenced. Sixty percent of the residential units comprised in the total project have been booked.

Out of the total extent of 42 Acres of land of the Company at Annanagar, Chennai, title on 1.77 Acres extent was claimed by HR and CE department by way of a Special Leave Petition filed before Supreme Court. The Supreme Court remanded the case back to the Inams Tribunal with a direction to dispose the case. Pursuant to the directions given by Supreme Court, the Inams Tribunal heard and dismissed the claim of HR and CE department as barred by limitation and not supported by documents. However, the HR and CE department has preferred an appeal in High Court, and an injunction order has been granted. The Appeal before the High Court is likely to be taken up for final disposal by November 2013.

During the year, the Company has availed financial assistance of Rs.160.000 Millions from Housing Development Finance Corporation Limited.

During the year the Company has submitted an application to CMDA for approval of revised plan for the project of the Company.

FIXED ASSETS:

· Land

· Buildings

· Office building

· Plant and equipment

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

· Other equipments

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. 60.10
UK Pound	1	Rs. 102.40
Euro	1	Rs. 81.88

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAR
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
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	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.