MIRA INFORM REPORT

Report Date :

10.11.2014

IDENTIFICATION DETAILS

Name :	ESS GEE REAL ESTATE DEVELOPERS PRIVATE LIMITED
Registered Office :	51/54 B, Nariman Bhavan, 5^th Floor, Backbay Reclemantion Road, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	09.02.2001
Com. Reg. No.:	11-130795
Capital Investment / Paid-up Capital :	Rs. 10.382 Millions
CIN No.: [Company Identification No.]	U45201MH2001PTC130795
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of developing real estate projects.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 1100000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

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	CRISIL
Rating	Long Term Rating = BBB
Rating Explanation	Have Moderate Degree of Safety and Carry Moderate Credit Risk.
Date	08.10.2014

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.

INFORMATION DENIED BY

Name :	Mr. Subhash Selvam
Designation :	Account Officer
Contact No.:	91-22-22025720
Date :	07.11.2014

LOCATIONS

Registered Office :	51/54 B, Nariman Bhavan, 5^th Floor, Backbay Reclemantion Road, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22041560
Fax No.:	91-22-22850587
E-Mail :	bina@accountant.com
Website :	www.essgeegroup.com
Site Address :	Defence Lab Side, Ratanada, Jodhpur at Foot hills of Umaid Heritage, Defence Lab side, Ratanada, Jodhapur - 342006, Rajasthan, India

DIRECTORS

As on 16.09.2013

Name :

Mr. Suresh Amritlal Gandhi

Designation :

Managing director

Address :

18 – D, Shanaz, 90 Nepean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

25.09.1950

Date of Appointment :

26.02.2013

DIN No.:

00128495

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	U70100MH1979PTC021291	EVERSMILE PROPERTIES PRIVATE LIMITED	Director	23/03/1983	23/03/1983	-	Active	NO
2	L29150MH1946PLC004877	CAPRIHANS (INDIA) LIMITED	Director	01/08/1983	01/08/1983	-	Active	NO
3	U74300MH2000PTC126504	CYCOM INTERNATIONAL PRIVATE LIMITED	Director	15/05/2000	15/05/2000	-	Active	NO
4	U99999MH1991PTC060691	ESS GEE PROPERTY DEVELOPERS (INDIA) PRIVATE LIMITED	Director	17/08/2000	17/08/2000	-	Active	NO
5	U70100MH1980PTC022072	YASHODHAN PROPERTIES PRIVATE LIMITED	Director	30/09/2000	30/09/2000	23/04/2009	Active	NO
6	U45200MH1996PTC101368	SHEETAL SAGAR BUILDERS & DEVELOPERS PRIVATE LIMITED	Director	11/10/2000	11/10/2000	-	Active	NO
7	U70100MH1998PTC117332	KENWOOD HOLDINGS PRIVATE LIMITED	Director	15/12/2000	15/12/2000	-	Active	NO
8	U70100MH1999PTC117814	AKANSHA INTERNATIONAL HOLDINGS PRIVATE LIMITED	Director	15/12/2000	15/12/2000	01/03/2014	Active	NO
9	U45201MH2001PTC130795	ESS GEE REAL ESTATE DEVELOPERS PRIVATE LIMITED	Director	26/02/2013	09/02/2001	-	Active	NO
10	U70100MH2003PTC140307	ESS GEE DEVELOPERS PRIVATE LIMITED	Director	06/05/2003	06/05/2003	-	Amalgamated	NO
11	U14100MH2003PTC143440	ESS GEE STONES PRIVATE LIMITED	Director	09/12/2003	09/12/2003	-	Active	NO
12	U92400MH2004PTC146693	ROYAL MARWAR HOSPITALITY PRIVATE LIMITED	Director	02/06/2004	02/06/2004	-	Active	NO
13	U15205MH1951PTC008571	DHUNJIBHOY ICE FACTORY PRIVATE LIMITED	Director	23/09/2004	23/09/2004	-	Active	NO
14	U27320MH1995PTC085675	MUTHA SPHEROCAST (INDIA) PRIVATE LIMITED	Director	30/06/2005	30/06/2005	28/09/2012	Amalgamated	NO
15	U80301MH2007PTC167108	UMAID HERITAGE EDUCATION PRIVATE LIMITED	Director	18/01/2007	18/01/2007	-	Active	NO
16	U15411MH2007PTC168244	ESS GEE REALTY PRIVATE LIMITED	Director	28/02/2007	28/02/2007	25/09/2013	Active	NO
17	U70200MH2007PTC170401	ESS GEE HOSPITALITY PRIVATE LIMITED	Director	28/04/2007	28/04/2007	-	Active	NO
18	U45200MH2007PTC168282	URBAN AKARSH INFRASTRUCTURE PRIVATE LIMITED	Director	08/09/2009	24/05/2007	-	Active	NO
19	U45202MH2009PTC190021	ESS GEE HABITAT PRIVATE LIMITED.	Director	02/02/2009	02/02/2009	-	Active	NO
20	U45200MH2009PTC190020	PEAKWOOD REALITY PRIVATE LIMITED	Director	02/02/2009	02/02/2009	15/02/2012	Active	NO
21	U01403MH2011PTC213909	ESS GEE ORGANIC FARMS PRIVATE LIMITED	Director	23/02/2011	23/02/2011	03/10/2013	Active	NO
22	AAA-2137	ESS GEE PREMISES LLP	Designated Partner	27/08/2010	27/08/2010	-	Active	NO

Name :

Mrs. Anjana Suresh Gandhi

Designation :

Director

Address :

18 – D, Shanaz, 90 Nepean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

06.04.1952

Date of Appointment :

09.02.2001

DIN No.:

00128691

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	U99999MH1991PTC060691	ESS GEE PROPERTY DEVELOPERS (INDIA) PRIVATE LIMITED	Director	17/08/2000	17/08/2000	-	Active	NO
2	U70100MH1980PTC022072	YASHODHAN PROPERTIES PRIVATE LIMITED	Director	30/09/2000	30/09/2000	23/04/2009	Active	NO
3	U45200MH1996PTC101368	SHEETAL SAGAR BUILDERS & DEVELOPERS PRIVATE LIMITED	Director	11/10/2000	11/10/2000	-	Active	NO
4	U45201MH2001PTC130795	ESS GEE REAL ESTATE DEVELOPERS PRIVATE LIMITED	Director	09/02/2001	09/02/2001	-	Active	NO
5	U70100MH2003PTC140307	ESS GEE DEVELOPERS PRIVATE LIMITED	Director	06/05/2003	06/05/2003	-	Amalgamated	NO
6	U14100MH2003PTC143440	ESS GEE STONES PRIVATE LIMITED	Director	09/12/2003	09/12/2003	-	Active	NO
7	U70100MH1998PTC117332	KENWOOD HOLDINGS PRIVATE LIMITED	Director	18/11/2004	18/11/2004	-	Active	NO
8	U80301MH2007PTC167108	UMAID HERITAGE EDUCATION PRIVATE LIMITED	Director	18/01/2007	18/01/2007	-	Active	NO
9	U70200MH2007PTC170401	ESS GEE HOSPITALITY PRIVATE LIMITED	Director	28/04/2007	28/04/2007	-	Active	NO
10	U74300MH2000PTC126504	CYCOM INTERNATIONAL PRIVATE LIMITED	Director	18/08/2009	05/11/2008	-	Active	NO
11	U45202MH2009PTC190021	ESS GEE HABITAT PRIVATE LIMITED.	Director	02/02/2009	02/02/2009	-	Active	NO
12	U45200MH2009PTC190020	PEAKWOOD REALITY PRIVATE LIMITED	Director	02/02/2009	02/02/2009	07/02/2012	Active	NO
13	AAA-0456	GTK REALTY LLP	Designated Partner	07/12/2009	07/12/2009	-	Active	NO

Name :

Mr. Basant Gandhi

Designation :

Director

Address :

A – 501, Ratnakar 3, Prernatirth Road, Opposite Reliance Fresh, Jodhapur Satellite, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

17.10.1946

Date of Appointment :

09.08.2006

DIN No.:

00286189

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	U45201MH2001PTC130795	ESS GEE REAL ESTATE DEVELOPERS PRIVATE LIMITED	Director	09/08/2006	09/08/2006	-	Active	NO
2	U45200GJ2011PTC064013	ESS GEE SUKRUT PRIVATE LIMITED	Director	11/02/2011	11/02/2011	-	Active	NO

Name :

Mr. Gaurav Suresh Gandhi

Designation :

Director

Address :

18 – D, Shanaz, 90 Nepean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

26.01.1982

Date of Appointment :

09.08.2006

DIN No.:

00571024

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	U45201MH2001PTC130795	ESS GEE REAL ESTATE DEVELOPERS PRIVATE LIMITED	Director	09/08/2006	09/08/2006	-	Active	NO
2	U14100MH2003PTC143440	ESS GEE STONES PRIVATE LIMITED	Director	09/08/2006	09/08/2006	-	Active	NO
3	U45200MH1996PTC101368	SHEETAL SAGAR BUILDERS & DEVELOPERS PRIVATE LIMITED	Director	09/08/2006	09/08/2006	-	Active	NO
4	U70100MH2003PTC140307	ESS GEE DEVELOPERS PRIVATE LIMITED	Director	09/08/2006	09/08/2006	-	Amalgamated	NO
5	U99999MH1991PTC060691	ESS GEE PROPERTY DEVELOPERS (INDIA) PRIVATE LIMITED	Director	09/08/2006	09/08/2006	-	Active	NO
6	U15205MH1951PTC008571	DHUNJIBHOY ICE FACTORY PRIVATE LIMITED	Director	09/08/2006	09/08/2006	-	Active	NO
7	U70100MH1998PTC117332	KENWOOD HOLDINGS PRIVATE LIMITED	Director	26/12/2006	26/12/2006	-	Active	NO
8	U70200MH2007PTC170401	ESS GEE HOSPITALITY PRIVATE LIMITED	Director	18/08/2009	27/11/2008	-	Active	NO
9	U45200MH2009PTC190020	PEAKWOOD REALITY PRIVATE LIMITED	Additional director	25/10/2010	25/10/2010	07/02/2012	Active	NO
10	U45200GJ2011PTC064013	ESS GEE SUKRUT PRIVATE LIMITED	Director	11/02/2011	11/02/2011	-	Active	NO
11	U01403MH2011PTC213909	ESS GEE ORGANIC FARMS PRIVATE LIMITED	Director	23/02/2011	23/02/2011	03/10/2013	Active	NO
12	U74300MH2000PTC126504	CYCOM INTERNATIONAL PRIVATE LIMITED	Director	15/09/2012	10/04/2012	-	Active	NO
13	U80301MH2007PTC167108	UMAID HERITAGE EDUCATION PRIVATE LIMITED	Director	06/08/2012	26/04/2012	-	Active	NO
14	U45202MH2009PTC190021	ESS GEE HABITAT PRIVATE LIMITED.	Director	06/08/2012	26/04/2012	-	Active	NO
15	U45200MH2007PTC168282	URBAN AKARSH INFRASTRUCTURE PRIVATE LIMITED	Director	16/09/2013	05/10/2012	-	Active	NO
16	U15411MH2007PTC168244	ESS GEE REALTY PRIVATE LIMITED	Director	16/09/2013	05/10/2012	25/09/2013	Active	NO
17	AAA-2137	ESS GEE PREMISES LLP	Designated Partner	27/08/2010	27/08/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Subhash Selvam
Designation :	Account Officer

MAJOR SHAREHOLDERS

As on 16.09.2013

Names of Shareholders	No. of Preference Shares	No. of Equity Shares
Suresh Gandhi	--	7500
Anjana Gandhi	--	7500
Gaurav Gandhi	--	7497
Suresh Gandhi, Karta of Suresh Gandhi HUF	--	7500
Satya Gandhi	--	7500
Suhaani Gandhi	--	671
Gaurav Gandhiand Ravindra Arora	--	1
Gaurav Gandhiand Basant Kumar Amritlal Gandhi HUF	--	1
Gaurav Gandhi and Amritlal Gandhi HUF	--	1
Kishan Gehlot	100000	--
Total	100000	38171

As on 16.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	80.35
Other top fifty shareholders	19.65
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of developing real estate projects.
Exports :	Not Divulged
Imports :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Not Divulged

Bankers :

State Bank of India, Girgaum Branch, Sir H.N. Hospital Building, S.V. Road Grgaum, Mumbai – 400004, Maharashtra, India

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
Term loan from Banks	23.624	36.854
Total	23.624	36.854

Note :

1. Term loan from State Bank of India

a) Secured against hypothecation of specific assets purchased there against.

b) The loan I further secured by personal guarantee of director for the aggregate amount of outstanding balance of Rs. 24.186 Millions

c) A balance of Rs. 0.027 Millions (P.Y. Rs. 0.497 Millions) is held under escrow arrangement assigned in favour of the bank against the term loan.

d) The loan is repayable in 60 monthly installments commencing from October 2012.

2. Term Loans from ICICI Bank

a) Secured against hypothecation of specific assets purchased there against.

b) The loans are repayable in 35 equated monthly installments commencing from October 2011 and 59 equated monthly installments commencing from February 2012.

Banking Relations :	---
Auditors :
Name :	M. M. Nissim And Company Chartered Accountant
Address :	Barodawala Mansion, B – Wing, 3^rd Floor, 81, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India
Tel. No.:	91-22-24949991
Fax No.:	91-22-24949995
E-Mail :	mail@mmnissim.com
Website :	www.mmnissim.com
PAN No.:	AAAFM5103E
Subsidiary Company :	Kenwood Holdings Private Limited Ess Gee Property Developers India Private Limited
Enterprises over which key managerial personnel have control :	Ess Gee Hospitality Private Limited Ess Gee Premises LLP Sheetal Sagar Builders and Developers Private Limited Dhunjibhoy Ice Factory Private Limited Ess Gee Habitat Private Limited

CAPITAL STRUCTURE

As on 16.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
70000	Equity Shares	Rs.10/- each	Rs 0.700 Million
100000	Preference Shares	Rs. 100/- each	Rs. 10.000 Millions
	Total		Rs. 10.700 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
38171	Equity Shares	Rs.10/- each	Rs. 0.381 Million
100000	Preference Shares	Rs. 100/- each	Rs. 10.000 Millions
	Total		Rs. 10.381 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	10.381	10.381	10.381
(b) Reserves & Surplus	380.628	353.073	194.854
(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)	391.009	363.454	205.235
(3) Non-Current Liabilities
(a) long-term borrowings	93.339	69.660	58.956
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	47.488	47.487	33.130
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	140.827	117.147	92.086
(4) Current Liabilities
(a) Short term borrowings	72.838	70.477	16.939
(b) Trade payables	33.755	60.154	27.773
(c) Other current liabilities	190.695	180.731	194.351
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	297.288	311.362	239.063
TOTAL	829.124	791.963	536.384
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	212.555	229.716	211.448
(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	21.183	21.283	20.587
(c) Deferred tax assets (net)	7.176	0.634	4.100
(d) Long-term Loan and Advances	218.392	160.286	129.639
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	459.306	411.919	365.774
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	163.334	156.476	142.533
(c) Trade receivables	149.675	138.162	6.810
(d) Cash and cash equivalents	1.887	30.913	13.048
(e) Short-term loans and advances	54.922	48.587	2.903
(f) Other current assets	0.000	5.906	5.316
Total Current Assets	369.818	380.044	170.610
TOTAL	829.124	791.963	536.384

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	182.392	167.194	NA
	Other Income	22.156	23.639	NA
	TOTAL (A)	204.548	190.833	NA
Less	EXPENSES
	Cost of Materials Consumed	32.231	39.329
	Purchases of Stock-in-Trade	28.800	30.104
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	24.891	5.430
	Employees benefits expense	14.593	14.009
	Other expenses	39.168	33.446
	TOTAL (B)	139.683	122.318
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	64.865	68.515	NA
Less	FINANCIAL EXPENSES (D)	11.956	13.992
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	52.909	54.523
Less/ Add	DEPRECIATION/ AMORTISATION (F)	31.449	28.633
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	21.460	25.890	60.508
Less	TAX (I)	(6.095)	64.103	12.494
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	27.555	(38.213)	48.014
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	156.522	194.735	146.721
	Balance Carried to the B/S (J+K+L-M)	184.077	156.522	194.735
	Earnings / (Loss) Per Share (Rs.)	721.89	(1.00)	1257.87

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	15.11	(22.86)	NA
Operating Profit Margin (PBDIT / Sales)	(%)	35.56	40.98	NA
Return on Total Assets (PBT/Total Assets}	(%)	2.68	3.36	11.82
Return on Investment (ROI) (PBT/Networth)		0.05	0.07	0.29
Debt Equity Ratio (Total Debt /Networth)		0.42	0.39	0.37
Current Ratio (Current Asset/Current Liability)		1.24	1.22	0.71

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	10.381	10.381	10.381
Reserves & Surplus	194.854	353.073	380.628
Net worth	205.235	363.454	391.009
long-term borrowings	58.956	69.660	93.339
Short term borrowings	16.939	70.477	72.838
Total borrowings	75.895	140.137	166.177
Debt/Equity ratio	0.370	0.386	0.425

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	167.194	182.392
		9.090

NET PROFIT MARGIN

	(Rs. In Millions)	(Rs. In Millions)
Sales	167.194	182.392
Profit	(38.213)	27.555
	(22.86%)	15.11%

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	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	----------------------
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	Yes

Note:

Registered office of the company has been shifted from 85 Mittal Chambers, Nariman Point, Mumbai, Maharashtra, India to the present address w.e.f.18.06.2008

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
Loans and advances from related parties	48.750	19.669
Other Loan and Advances	20.965	13.138
SHORT TERM BORROWING
Corporate Loans	57.481	42.672
Deposits	15.357	16.005
Advances from a shareholder	0.000	11.800
Total	142.553	103.284

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10313217	29/09/2011	27,500,000.00	State Bank of India	Madam Cama Road, Mumbai, Maharashtra - 400021, IND IA	B23536840

* Date of charge modification

FIXED ASSETS

• Freehold Land
• Leasehold Land
• Building
• Plant and Machinery
• Wind Turbine Generator
• Furniture and Fixture
• Vehicles
• Office Equipment
• Computer

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.61.52
UK Pound	1	Rs.97.39
Euro	1	Rs.76.16

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	RSM
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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.