MIRA INFORM REPORT

Report Date :

04.11.2014

IDENTIFICATION DETAILS

Name :	RELIANCE MUTUAL FUND
Registered Office :	12th Floor, One India Bulls Compound Tower 1, Jupiter Mills Compound, Elphinstone Road, Mumbai - 400013, Maharashtra
Country :	India
Year of Establishment:	30.06.1995
Com. Reg. No.:	MF/022/95/1
Capital Investment / Paid-up Capital :	Not Divulged
Legal Form :	Trust
Line of Business :	Subject is act as a financial services provider.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Reliance Mutual Fund, a part of the Reliance Anil Dhirubhai Ambani (ADA) Group, is one of the fastest growing mutual funds in India. It has been established as a trust under the Indian Trusts Act, 1882. It is having a satisfactory track. It offers investors a well-rounded portfolio of products to meet varying investor requirements and has presence in 179 cities across the country. Management is reported to be experienced and respectable businessmen. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The subject can be considered for business dealings at usual 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.

INDIAN ECONOMIC OVERVIEW

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Reliance capital protection oriented fund: Plan A = AAA MFS (SO)
Rating Explanation	Have the highest degree of safety.
Date	14.03.2014

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 31-03-2014.

LOCATIONS

Registered Office :

12th Floor, One India Bulls Compound Tower 1, Jupiter Mills Compound, Elphinstone Road, Mumbai - 400013, Maharashtra, India

Tel. No.:

Not Available

Fax No.:

Not Available

Website :

www.reliancemutual.com

Branches Office:

Located at

Adayar	Agartala	Agra	Ahmedabad	Ahmednagar
Ajmer	Akola	Aligarh	Allahabad	Alwar
Ambala	Amravati	Amritsar	Anand	Andheri
Anna Nagar	Asansol	Aurangabad	Balasore	Bangalore
Bardoli	Bareilly	Belgaum	Bellary	Berhampur
Bhagalpur	Bharuch	Bhatinda	Bhavnagar	Bhilai
Bhilwara	Bhopal	Bhubaneswar	Bhuj	Bikaner
Bilaspur	Bokaro	Borivali	Burdwan	Calicut
Chandigarh	Chennai	Cochin	Coimbatore	Cuttack
Dalhousie	Davangere	Dehradun	Dhanbad	Durgapur
Erode	Faridabad	Firozabad	Gandhinagar	Ghatkopar(East)
Ghaziabad	Gorakhpur	Guntur	Gurgaon	Guwahati
Gwalior	Haldwani	Hassan	Himatnagar	Hissar
Howrah	Hubli	Hyderabad	Ichalkaranji	Indore
Jabalpur	Jaipur	Jalandhar	Jalgaon	Jammu
Jamnagar	Jamshedpur	Janakpuri	Jayanagar	Jhansi
Jodhpur	Junagadh	Kakinada	Kalyan	Kalyani
Kangra	Kanpur	Kharagpur	Kolhapur	Kolkata
Kota	Kottayam	Lajpat Nagar	Lucknow	Ludhiana
Madurai	Malda	Malleswaram	Mangalore	Margao
Meerut	Mehsana	Moradabad	Mumbai	Muzaffarnagar
Muzaffarpur	Mysore	Nagpur	Nanded	Nasik
Navsari	Nellore	New Delhi	Noida	Panaji
Panipat	Pathankot	Patiala	Patna	Pondicherry
Pune	Raipur	Rajahmundry	Rajkot	Ranchi
Rohtak	Rourkela	Sagar	Saharanpur	Salem
Salt Lake City	Sambalpur	Sangli	Satara	Satna
Serampore	Shillong	Shimla	Shimoga	Siliguri
Solapur	Surat	Thane	Thanjavur	Thrissur
Tinsukia	Tirupathi	Tirupur	Tiruvalla	Trichy
Trivandrum	Tuticorin	Udaipur	Ujjain	Vadodara
Valsad	Vapi	Varanasi	Vasco	Vashi
Vellore	Vijayawada	Visakhapatnam	Warangal	Yamuna nagar

MANAGEMENT

Name :

Reliance Trustee Company Limited

BUSINESS DETAILS

Line of Business :

Subject is act as a financial services provider.

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	Not Divulged

Banking Relations :
Auditors :
Name :	Haribhakti and Company Chartered Accountants Price Waterhouse Coopers Chartered Accountants BSR and Company Chartered Accountants Malpani and Associates Chartered Accountants

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	Not Divulged
Total :	Not Divulged

FINANCIAL DATA

[all figures are in Rupees Millions]

NOT DIVULGED

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	No
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	No
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	No
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	No
24]	Banking facility details	No
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	No
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

AUM REPORT FOR THE QUARTER ENDED 30.09.2014

ASSET CLASS WISE DISCLOSURE OF AUM AND AAUM

(Rs. In Million)

Category	AUM as on the last quarter	Average AUM for the quarter
Income	535010.870	549863.586
Equity (Other than ELS)	315368.160	295880.689
Balanced	7177.018	6543.338
Liquid	210632.696	314022.372
Gilt	3391.938	3396.958
Equity – ELSS	33086.668	31008.768
Gold –ETF	16543.915	17740.204
Other ETF	2278.605	2227.676
Fund of fund Investing overseas	0.000	0.000
Total	1123489.872	1220683.592
Fund of fund Scheme (Domestic)	12139.286	13179.818

AUM REPORT FOR THE QUARTER ENDED 30.09.2014

DISCLOSURE OF PERCENTAGE OF AUM BE GEOGRAPHY

(Rs. In Million)

Geographical spread	% of Total AUM as on the last day of the quarter
Top 5 cities	5.755
Next 10 cities	2.273
Next 20 cities	0.779
Next 75 cities	0.846
Other	0.346
Total	10.000

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.61.41
UK Pound	1	Rs.98.06
Euro	1	Rs.76.67

INFORMATION DETAILS

Information Gathered by :	JML
Analysis Done by :	RAS
Report Prepared by :	KVT

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.