MIRA INFORM REPORT

Report Date :

07.05.2014

IDENTIFICATION DETAILS

Name :	NEELKAMAL REALTERS TOWERS PRIVATE LIMITED (w.e.f. 05.04.2007)

Formerly Known as :	NEELKAMAL SUMER REALTERS TOWER PRIVATE LIMITED

Registered Office :	DB House, Gen. A. K. Vaidya Marg, Goregaon (East), Mumbai – 400063, Maharashtra

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	26.12.2005

Com. Reg. No.:	11-158322

Capital Investment / Paid-up Capital :	Rs.32.887 Millions

CIN No.: [Company Identification No.]	U70100MH2005PTC158322

TAN No.: [Tax Deduction & Collection Account No.]	MUMN13889B

PAN No.: [Permanent Account No.]	AACCN4786B

Legal Form :	Private Limited Liability Company

Line of Business :	Real Estate Business

No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (14)

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 :	Project under implementation

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Even though the company was incorporated during 26^th December 2005. The project of the company is still under implementation. As claimed by Mr. ATUL BHATNAGAR, Assistant general manager that company project is under implementation and it will complete after 3 years. Further he also provided general information to us. As per available financial record of 2013, the company has incurred huge pre-operating expenses which resulting into losses recorded by the company. As per the status in the registrar of companies business appears to be active. Payment terms are unknown. The company can be considering for business dealing on 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

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. Atul Bhatnagar
Designation :	Assistant General Manager
Contact No.:	91-22-40778620
Date :	06.05.2014

LOCATIONS

Registered Office :	DB House, Gen. A. K. Vaidya Marg, Goregaon (East), Mumbai – 400063, Maharashtra, India
Tel. No.:	91-22-40778620 / 40778600
Fax No.:	91-22-28421667
E-Mail :	atul.bhatnagar@dbg.co.in nm.gatlu@dbg.co.in
Website :	www.dbg.co.in

DIRECTORS

AS ON 28.09.2013

Name :

Mr. Manoj Yeshwant Borkar

Designation :

Nominee Director

Address :

601, 6^th Floor, Sheraton Classic, Ram Mandir Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India

Date of Birth/Age :

01.12.1964

Date of Appointment :

29.07.2013

DIN No.:

00060698

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	U74920MH1994PTC161099	AAF TRUSTEE COMPANY PRIVATE LIMITED (TRF.)	Director	18/01/1999	18/01/1999	-	Strike off	NO
2	U74920MH1993PLC161100	ISSL MARKET SERVICES LIMITED	Director	27/06/2002	27/06/2002	19/06/2013	Active	NO
3	U74900DL1995PLC064229	INVESTMENT TRUSTEE COMPANY (U.P.) LTD.	Director	28/03/2003	28/03/2003	-	Under Process of Striking off	NO
4	U72200MH1998PLC114664	CYGSOFT LIMITED	Alternate director	27/06/2003	27/06/2003	05/01/2008	Strike off	NO
5	U26942AS2004PLC007538	CALCOM CEMENT INDIA LIMITED	Nominee director	02/12/2005	02/12/2005	30/11/2007	Active	NO
6	U66020MH2006PLC161439	IL & FS Asian Infrastructure Managers Limited	Director	27/09/2007	27/04/2006	-	Active	NO
7	U67190MH2006PLC162433	IL&FS URBAN INFRASTRUCTURE MANAGERS LIMITED	Director	19/09/2008	24/05/2006	-	Active	NO
8	U65993DL1995PTC064226	INVESTMENT TRUSTEE COMPANY (ORISSA) PRIVATE LIMITED	Director	07/09/2009	29/09/2008	-	Active	NO
9	U74100MH2004PTC147036	CORE ADVISORY AND ACCOUNTING PRIVATE LIMITED	Director	10/08/2009	22/02/2009	-	Active	NO
10	U74140MH2005PLC158416	IIML ASSET ADVISORS LIMITED	Director	16/09/2011	29/10/2010	-	Active	NO
11	U70200DL2011PTC228109	NOIDA TOWERS PRIVATE LIMITED	Director	20/12/2012	25/05/2012	-	Active	NO
12	U45200MH2006PTC160048	HEM INFRASTRUCTURE AND PROPERTY DEVELOPERS PRIVATE LIMITED	Director	18/09/2012	18/09/2012	-	Active	NO
13	U65993DL1995PTC064232	SARA FUND TRUSTEE COMPANY PRIVATE LIMITED	Director	26/09/2013	15/07/2013	-	Active	NO
14	U70100MH2005PTC158322	NEELKAMAL REALTORS TOWER PRIVATE LIMITED	Nominee director	29/07/2013	29/07/2013	-	Active	NO

Name :

Mr. Venkiteswar Chandrasekhar

Designation :

Nominee Director

Address :

1/4, Durga Society, Tilak Vidhalaya Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India

Date of Birth/Age :

04.01.1964

Date of Appointment :

11.06.2013

DIN No.:

00540967

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	U45200MH2004PTC146241	CONCRETE IDEAS REALTORS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
2	U45400MH2007PTC169982	CF INFRA DEVELOPERS PRIVATE LIMITED	Director	16/04/2007	16/04/2007	-	Active	YES
3	U45303MH2008PTC178443	TERRAFERMA DEVELOPERS PRIVATE LIMITED	Director	01/02/2008	01/02/2008	09/09/2011	Converted to LLP	NO
4	U45202MH2010PTC198548	C-SUM ENGINEERS PRIVATE LIMITED	Director	05/01/2010	05/01/2010	-	Active	NO
5	U70100MH2005PTC158322	NEELKAMAL REALTORS TOWER PRIVATE LIMITED	Nominee director	11/06/2013	11/06/2013	-	Active	NO

Name :

Mr. Saleh Taher Afimiwala

Designation :

Nominee Director

Address :

1104, Sliver Cascade, Mount Mary Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

25.11.1969

Date of Appointment :

21.12.2007

DIN No.:

01882628

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	U70100MH2005PTC158322	NEELKAMAL REALTORS TOWER PRIVATE LIMITED	Nominee director	21/12/2007	21/12/2007	-	Active	NO
2	U70102DL2007PLC158578	ANSAL SEZ PROJECTS LIMITED	Nominee director	23/09/2008	02/06/2008	13/04/2012	Active	NO
3	U70102DL2007PLC158377	ANSAL TOWNSHIPS INFRASTRUCTURE LIMITED	Nominee director	23/09/2008	02/06/2008	-	Active	NO
4	U70102AP2007PLC056526	RAMKY INTEGRATED TOWNSHIP LIMITED	Director	30/09/2008	05/08/2008	-	Active	NO
5	U45200MH2005PTC155800	KOHINOOR CTNL INFRASTRUCTURE COMPANY Private LIMITED	Director	30/09/2009	09/12/2008	-	Active	NO
6	U70100MH2006PTC159201	SUYOG REALTORS PRIVATE LIMITED	Nominee director	24/11/2010	24/11/2010	-	Active	NO
7	U45400MH2008PTC187022	WONDERVALUE REALTY DEVELOPERS PRIVATE LIMITED	Nominee director	07/12/2010	07/12/2010	-	Active	NO
8	U45200TN2007PTC065754	GK Industrial Park Private Limited	Director	14/12/2010	14/12/2010	-	Active	NO
9	U45201MH2007PTC174797	HBS PHARMA SEZ PRIVATE LIMITED	Nominee director	27/12/2010	27/12/2010	-	Active	NO
10	U45202MH2009PTC192761	SRM SITES PRIVATE LIMITED	Nominee director	28/12/2010	28/12/2010	-	Active	NO
11	U70101TN2007PLC065552	PREMIER CHENNAI PROPERTIES LIMITED	Director	15/02/2011	15/02/2011	24/03/2014	Active	NO
12	U70101KL2005PTC018111	DEWA PROJECTS PRIVATE LIMITED	Nominee director	30/09/2011	23/03/2011	-	Active	NO
13	U55101MH2008PLC200363	APODIS HOTELS & RESORTS LIMITED	Nominee director	11/11/2011	28/03/2011	-	Active	NO
14	U70100MH2004PTC149602	MARINE DRIVE HOSPITALITY & REALTY PRIVATE LIMITED	Nominee director	02/07/2011	02/07/2011	-	Active	NO
15	U70109DL2006PTC155922	EMERALD LANDS (INDIA) PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO
16	U70102DL2007PLC157384	INDIABULLS INFRAESTATE LIMITED	Director	13/01/2012	13/01/2012	-	Active	NO
17	U70109MH2010PTC200069	Yamuna Realty Private Limited	Director	25/09/2012	25/04/2012	-	Active	NO
18	U45208WB2008PTC129899	EDENCITY PROJECTS PRIVATE LIMITED	Director	26/09/2013	21/09/2012	-	Active	NO
19	U45400MH2007PTC176925	ORBIT HIGHCITY PRIVATE LIMITED	Nominee director	31/01/2014	31/01/2014	-	Active	NO

Name :

Mr. Vinode Thomas

Designation :

Nominee Director

Address :

501, Jyoti Vidya Co-operative Housing Society, CST Road, Kalina, Santacruz, (East), Mumbai – 400098, Maharashtra, India

Date of Birth/Age :

30.05.1970

Date of Appointment :

04.11.2010

DIN No.:

01893613

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	U70100MH2006PTC159708	DB (BKC) REALTORS PRIVATE LIMITED	Nominee director	21/12/2007	21/12/2007	-	Active	NO
2	U70109DL2006PLC149602	AIPL AMBUJA HOUSING AND URBAN INFRASTRUCTURE LIMITED	Nominee director	16/10/2008	22/04/2008	09/11/2011	Active	NO
3	U70101TN2007PLC065552	PREMIER CHENNAI PROPERTIES LIMITED	Director	18/03/2009	09/05/2008	-	Active	NO
4	U45200TN2007PTC065754	GK Industrial Park Private Limited	Director	23/06/2008	13/06/2008	-	Active	NO
5	U70100MH2005PTC158322	NEELKAMAL REALTORS TOWER PRIVATE LIMITED	Nominee director	04/11/2010	04/11/2010	-	Active	NO
6	U45200MH2006PTC160048	HEM INFRASTRUCTURE AND PROPERTY DEVELOPERS PRIVATE LIMITED	Director	30/09/2011	26/11/2010	-	Active	NO
7	U45400MH2007PTC176925	ORBIT HIGHCITY PRIVATE LIMITED	Director	09/08/2011	08/12/2010	-	Active	NO
8	U45201HR2006PTC036015	BHARTIYA URBAN INFRASTRUCTURE AND LAND DEVELOPMENT CO.PRIVATE LIMITED	Nominee director	27/09/2011	20/12/2010	-	Active	NO
9	U70109DL2010PTC199586	AMRAPALI PRINCELY ESTATE PRIVATE LIMITED	Nominee director	22/03/2012	22/03/2012	-	Active	NO
10	U45200PN2012PTC142417	Amanora Future Towers Private Limited	Director	01/10/2012	30/03/2012	-	Active	NO
11	U45201WB2005PTC101773	RIVERBANK HOLDINGS PRIVATE LIMITED	Nominee director	30/04/2012	30/04/2012	-	Active	NO
12	U70102PN2006PTC129191	KOLTE-PATIL REAL ESTATE PRIVATE LIMITED	Nominee director	30/04/2012	30/04/2012	-	Active	NO
13	U70109WB2011PLC171075	S.E. BUILDERS & REALTORS LIMITED	Director	30/05/2012	30/05/2012	-	Active	NO
14	U70101KL2005PTC018111	DEWA PROJECTS PRIVATE LIMITED	Nominee director	12/06/2012	12/06/2012	-	Active	NO
15	U70100MH2006PTC159566	PAN INDIA MOTORS PRIVATE LIMITED	Additional director	08/03/2013	08/03/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Atul Bhatnagar
Designation :	Assistant General Manager

MAJOR SHAREHOLDERS

AS ON 28.09.2013

Names of Equity Shareholders	No. of Shares
D B Realty Limited	1010807
Il & FS Trust Company Limited	212590
IIRF Holdings VII Limited	1404410

Total	2627807

Names of Preference Shareholders	No. of Shares
D B Realty Limited	660918

Total	660918

Equity Share Break up (Percentage of Total Equity)

AS ON 28.09.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	53.44
Bodies corporate	46.56
Total	100.00

BUSINESS DETAILS

Line of Business :	Real Estate Business.

Terms :
Selling :	Cash and Advance Payment

Purchasing :	Cash and Advance Payment

GENERAL INFORMATION

No. of Employees :

100 (Approximately)

Bankers :

· Punjab National Bank, PNB House, Sir. P. M. Road, Fort, Mumbai – 400001, Maharashtra, India

· Yes Bank Limited, Indiabulls Finance Centre, Tower 2, 23^rd Floor, Senapati Bapat Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India

· Bank of India, Andheri Corporate Banking Branch, M.D.I. Building, 1^st Floor, 28 S. V. Road, Mumbai – 400058, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Other Loans and Advances	0.378	1.226

Short Term Borrowings
Loans Repayable on demand from Banks	0.000	210.186

Total	0.378	211.412


Banking Relations :	--

Financial Institution :	IL & FS Trust Company Limited, IL & FS Financial Centre, Plot No. C22, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India

Auditors :
Name :	Haribhakti and Company Chartered Accountants
Address :	42, Free Press House, 215, Nariman Point, Mumbai – 400021, Maharashtra, India
PAN No.:	AAAFH2010F

Partnership concern :	· Conwood Associates · K.G. Enterprises · Panchsheel Developers

Subsidiaries :	· D B Properties Private Limited · Esteem Properties Private Limited · Gokuldham Real Estate Development Company Private Limited · Neelkamal Realtors Tower Private Limited · Neelkamal Realtors Suburban Private Limited · Neelkamal Shantinagar Properties Private Limited · Real Gem Buildtech Private Limited · Saifee Bucket Factory Private Limited · D B Man Realty Limited · Priya Constructions Private Limited

Group Companies :	· Aassma Realtors Private Limited · Aniline Construction Company Private Limited · Aniline Real Estate Developers Private Limited · Associated Hotels Private Limited · Ashtlakshmi Financial and Investment Services Private Limited · Azure Tree Township Private Limited · BD&P Hotels (India) Private Limited · Consort Hotels Private Limited · Conwood Chemical Industries Private Limited · Conwood Construction & Developers Private Limited · Conwood Agencies Private Limited · Conwood Pre–Fab Limited · The Cresent Iron & Steel Corporation Limited · Crossway Realtors Private Limited Crystal Granite and Marbles Private Limited · D B Airport Infra Private Limited · D B Hospitality Private Limited · D B Hospitality Limited, Mauritius D B Projects Private Limited · D B Contractors & Builders Private Limited · D B Hi–Sky Constructions Private Limited · D B Modern BuildTech Private Limited · D B Telewimax Private Limited · Densewood Private Limited · Drive Developers Private Limited · Dynamix Balwas Limited, Dubai · Dynamix Balwas Infrastructure Private Limited · Dynamix Balwas Resorts Private Limited · Dynamix Balwas Telecom Private Limited · Dynamix Balwas Entertainment Services Private Limited · Dynamix Building Material Private Limited · Dynamix Clubs and Resorts Private Limited · Dynamix–Man Pre–Fab Limited · Dynamix Securities and Holding Private Limited · Earthen Agro & Infrastructure Private Limited · Eon Aviation Private Limited · Eterna Realty Private Limited · Etisalat DB Telecom Private Limited · Eversmile Construction Company Private Limited · Eversmile Properties Private Limited · Excon Developers Private Limited · Face Inn Hotels Private Limited · Fair Brothers Securities Private Limited · Falgun Consultants Private Limited · Goan Hotels & Clubs Private Limited · Goan Real Estate and Construction Private Limited · Heaven Star Realty Private Limited · Heritage Mining Company Private Limited · Hillside Construction Company Private Limited · Hiracon Properties Private Limited · Kalpataru Plaza Private Limited · Khairun Developers Private Limited · M. J. Estates Private Limited · M.K. Malls & Developers Private Limited · Maldunge Farming and Agro Produce Private Limited · Maldunge Retreat & Farming Private Limited · Milan Theatres Private Limited · Modren Hi–Tech Developers Private Limited · Neelkamal Central Appartment Private Limited · Neelkamal City Shopping Mall India Limited · Neelkamal Realtors and Builders Private Limited · Neelkamal Realtors and Hotels Private Limited · Nihar Constructions Private Limited · Nine Paradise Hotels Private Limited · P G Developers Private Limited · Pushpa Properties Private Limited · Sangam City Township Private Limited · Schon Farms Private Limited · Sahapur Plantation & Orchards Private Limited · Siddharth Consultancy Services Private Limited · Siddhivinayak Realties Private Limited · Sigatu Chemicals Private Limited · SLS Energy Private Limited · Span Construction Company Private Limited · Srishti Club House Private Limited · Swan Connect Communication Private Limited · Swan Infrastructure Finance Private Limited · Tiger Telecom Limited · Tiger Trustees Private Limited · Trident Estate Private Limited · V.S. Erectors & Builders Private Limited · Y J Realty Private Limited

CAPITAL STRUCTURE

AS ON 28.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

3300000	Equity Shares	Rs.10/- each	Rs.33.000 Millions
700000	Preference Shares	Rs.10/- each	Rs.7.000 Millions

	Total		Rs.40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

2627804	Equity Shares	Rs.10/- each	Rs.26.278 Millions
660918	Preference Shares	Rs.10/- each	Rs.6.609 Millions

	Total		Rs.32.887 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	32.887	32.887	32.887
(b) Reserves & Surplus	801.747	883.260	922.584
(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)	834.634	916.147	955.471

(3) Non-Current Liabilities
(a) long-term borrowings	20.378	21.226	22.395
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	11.566	6.197	4.568
Total Non-current Liabilities (3)	31.944	27.423	26.963

(4) Current Liabilities
(a) Short term borrowings	371.293	210.186	413.283
(b) Trade payables	45.113	7.774	63.984
(c) Other current liabilities	3,197.897	3,178.929	2,411.143
(d) Short-term provisions	1.064	0.671	0.000
Total Current Liabilities (4)	3,615.367	3,397.560	2,888.410

TOTAL	4,481.945	4,341.130	3,870.844

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	169.339	81.826	5.354
(ii) Intangible Assets	0.405	0.000	0.000
(iii) Capital work-in-progress	0.000	136.627	77.269
(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	0.533	13.067	17.668
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	170.277	231.520	100.291

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3,251.003	3,014.040	2,410.266
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	3.778	6.372	17.396
(e) Short-term loans and advances	1,056.880	1,089.192	1,342.886
(f) Other current assets	0.007	0.006	0.005
Total Current Assets	4,311.668	4,109.610	3,770.553

TOTAL	4,481.945	4,341.130	3,870.844

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	NA	NA	NA

Less	EXPENSES
		TOTAL	NA	NA	NA

	PROFIT/(LOSS) BEFORE TAX		NA	NA	NA

Less	TAX		NA	NA	NA

	PROFIT/(LOSS) AFTER TAX		(81.514)	(39.323)	(80.536)

	Earnings/(Loss) Per Share (Rs.)		(31.02)	(19.73)	(40.41)

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt /Networth)	0.47	0.25	0.46

Current Ratio (Current Asset/Current Liability)	1.19	1.21	1.31

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	32.887	32.887	32.887
Reserves & Surplus	922.584	883.260	801.747
Net worth	955.471	916.147	834.634

long-term borrowings	22.395	21.226	20.378
Short term borrowings	413.283	210.186	371.293
Total borrowings	435.678	231.412	391.671
Debt/Equity ratio	0.456	0.253	0.469

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 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	Yes
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

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Deposits from Others	20.000	20.000

Short Term Borrowings
Loans and Advances from related parties	371.293	0.000

Total	391.293	20.000

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10473456	28/12/2013	305,000,000.00	PUNJAB NATIONAL BANK	PNB HOUSE, SIR. P. M. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	B94676392
2	10456172	30/08/2013	3,500,000,000.00	YES BANK LIMITED	INDIABULLS FINANCE CENTRE, TOWER 2, 23RD FLOOR, SENAPATI BAPAT MARG, ELPHINSTONE (WEST),, MUMBAI, MAHARASHTRA - 400013, INDIA	B88005707
3	10179203	13/06/2012 *	443,200,000.00	PUNJAB NATIONAL BANK	MAKER TOWER, 'E', GROUND FLOOR,, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	B41755935

* Date of charge modification

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipment

· 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 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.60.20
UK Pound	1	Rs.101.68
Euro	1	Rs.83.55

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	KRN

Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
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	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO

TOTAL		14

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.