MIRA INFORM REPORT

Report Date :

12.09.2014

IDENTIFICATION DETAILS

Name :	DIRECT MEDIA DISTRIBUTION VENTURES PRIVATE LIMITED (w.e.f 16.05.2012)

Formerly Known As :	DHAKA WARRIORS SPORTS PRIVATE LIMITED

Registered Office :	135, Continental Building, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	05.01.2009

Com. Reg. No.:	11-189362

Capital Investment / Paid-up Capital :	Rs.10.000 Millions

CIN No.: [Company Identification No.]	U40300MH2009PTC189362

Legal Form :	Private Limited Liability Company

Line of Business :	Investment Company.

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having a moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution. Note: The company has changed its financial year from 30^th June to 31^st March from 12 months to 9 months ranging from 01.07.2012 to 31.03.2013.

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

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

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years. China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies. A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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 PARTED BY

Name :	Mr. Sudam
Designation :	Finance Head
Contact No.:	91-22-24831234
Date :	09.09.2014

LOCATIONS

Registered Office :	135, Continental Building, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India
Tel. No.:	91-22-24831234
Fax No.:	Not Available
E-Mail :	viral.dedhia@esselgroup.com

DIRECTORS

As on 27.12.2011

Name :

Mr. Himanshu Mody

Designation :

Director

Address :

1201 B Gardenia Building Vasant Valley Films City Road, Malad (East), Mumbai – 400097, Maharashtra, India

Date of Birth/Age :

28.12.1977

Date of Appointment :

05.01.2009

DIN No.:

00138475

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	U51900MH1982PTC028163	BRIGGS TRADING COMPANY PRIVATE LIMITED	Director	20/11/1995	20/11/1995	16/03/2009	Active	NO
2	U51900MH1982PTC028131	GANJAM TRADING COMPANY PRIVATE LIMITED	Director	20/11/1995	20/11/1995	11/11/2008	Active	NO
3	U51900MH1982PTC028133	CHURU TRADING COMPANY PRIVATE LIMITED	Director	28/09/2012	20/11/1995	-	Amalgamated	NO
4	U51900MH1982PTC028132	PRAJATMA TRADING COMPANY PRIVATE LIMITED	Director	28/09/2012	20/11/1995	-	Amalgamated	NO
5	U45201MH2001PLC133172	PAN INDIA NETWORK INFRAVEST LIMITED	Director	25/04/2005	25/04/2005	16/03/2009	Active	NO
6	U51909MH1996PTC222017	EAST INDIA COMPANY (TRADING) Private Limited	Director	02/05/2005	02/05/2005	04/10/2010	Active	NO
7	U92132MH2001PTC130426	MEDIAVEST INDIA PRIVATE LIMITED	Director	02/05/2005	02/05/2005	06/03/2012	Active	NO
8	U92412MH2008PTC183442	ESSEL CHAMPS PRIVATE LIMITED	Director	12/06/2008	12/06/2008	-	Amalgamated	NO
9	U92412MH2008PTC183869	ICL LIONS PRIVATE LIMITED	Director	23/06/2008	23/06/2008	22/02/2014	Active	NO
10	U70101MH2008PTC183873	ESSEL FINANCE CAPSTAR ADVISORY PRIVATE LIMITED	Director	23/06/2008	23/06/2008	02/04/2014	Active	NO
11	U92412MH2008PTC183874	ROYAL BENGAL SPORTS PRIVATE LIMITED	Director	23/06/2008	23/06/2008	-	Active	NO
12	U92412MH2008PTC183872	ICL SUPERSTARS SPORTS PRIVATE LIMITED	Director	23/06/2008	23/06/2008	-	Amalgamated	NO
13	U92412MH2008PTC183999	ICL HEROES SPORTS PRIVATE LIMITED	Director	25/06/2008	25/06/2008	-	Active	NO
14	U92412MH2008PTC184715	ICL ROCKETS SPORTS PRIVATE LIMITED	Director	16/07/2008	16/07/2008	-	Amalgamated	NO
15	U92412MH2008PTC184712	ICL GIANTS SPORTS PRIVATE LIMITED	Director	16/07/2008	16/07/2008	-	Amalgamated	NO
16	U40300MH2009PTC189362	DIRECT MEDIA DISTRIBUTION VENTURES PRIVATE LIMITED	Director	05/01/2009	05/01/2009	24/09/2013	Active	NO
17	U92199MH1982PLC028934	MERRY MOVEMENTS AND EQUIPMENTS LIMITED	Director	29/09/2009	26/02/2009	-	Amalgamated	NO
18	U92490MH2006PLC164863	PAN INDIA NETWORK LIMITED	Additional director	17/03/2009	17/03/2009	-	Active	NO
19	U92412RJ2009NPL028566	RAJASTHAN CRICKET LEAGUE	Director	30/03/2009	30/03/2009	-	Active	NO
20	U92412UP2009NPL037091	AWADH CRICKET LEAGUE	Director	31/03/2009	31/03/2009	-	Active	NO
21	U92130UR2009NPL032847	GARHWAL CRICKET LEAGUE	Director	08/05/2009	08/05/2009	-	Active	NO
22	U92410HP2009NPL031107	HIM-PRADESH CRICKET LEAGUE	Director	21/05/2009	21/05/2009	-	Active	NO
23	U92412CH2009NPL031648	CHANDIGARH CRICKET LEAGUE	Director	03/06/2009	03/06/2009	-	Active	NO
24	U92410PB2009NPL032968	PUNJAB CRICKET LEAGUE	Director	26/06/2009	26/06/2009	-	Active	NO
25	U92413BR2009NPL014640	MAGADH CRICKET LEAGUE	Director	01/07/2009	01/07/2009	-	Active	NO
26	U92413JH2009NPL013650	JHARKHAND CRICKET LEAGUE	Director	02/07/2009	02/07/2009	-	Active	NO
27	U92410OR2009NPL010929	ORISSA CRICKET LEAGUE	Director	06/07/2009	06/07/2009	-	Active	NO
28	U92413AS2009NPL009113	ASSAM CRICKET LEAGUE	Director	13/07/2009	13/07/2009	-	Active	NO
29	U74899DL1995PTC063954	BHILWARA TELENET SERVICES PRIVATE LIMITED	Director	28/09/2012	01/12/2011	-	Active	NO
30	U18101MH2008PTC178527	SPRIT TEXTILES PRIVATE LIMITED	Additional director	20/06/2012	20/06/2012	24/09/2013	Active	NO
31	U92130MH1996PTC100488	ASIAN SATELLITE BROADCAST PRIVATE LIMITED	Additional director	24/09/2013	24/09/2013	-	Active	NO
32	U74140MH2002PTC136737	ESSEL CORPORATE RESOURCES PRIVATE LIMITED	Additional director	24/09/2013	24/09/2013	-	Active	NO

Name :

Mr. Ashok Sanghavi

Designation :

Director

Address :

B Rajdeep Behind Bosco School, Ghaneshyam Gupre Road, Dombivali (West), Thane – 421202, Maharashtra, India

Date of Birth/Age :

20.07.1952

Date of Appointment :

05.01.2009

DIN No.:

00686830

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	U92132MH2001PTC130426	MEDIAVEST INDIA PRIVATE LIMITED	Director	23/04/2002	23/04/2002	-	Active	NO
2	U92130MH1996PTC100488	ASIAN SATELLITE BROADCAST PRIVATE LIMITED	Director	08/11/2002	08/11/2002	24/09/2013	Active	NO
3	U70100MH1980PTC022852	JAY PROPERTIES PRIVATE LIMITED	Director	04/12/2002	04/12/2002	19/03/2010	Active	NO
4	U64200MH2004PLC148772	ZEE SPORTS LIMITED	Director	23/09/2004	23/09/2004	-	Active	NO
5	L80220MH1999PLC121505	ETC NETWORKS LIMITED	Director	30/09/2004	30/09/2004	28/01/2008	Amalgamated	NO
6	U22120MH2005PLC151377	DILIGENT MEDIA CORPORATION LIMITED	Director	18/09/2009	17/02/2005	-	Active	NO
7	U92190MH2002PTC135002	TAJ TELEVISION (INDIA )PRIVATE LIMITED	Director	28/09/2007	28/12/2006	-	Active	NO
8	U74140MH2002PTC136737	ESSEL CORPORATE RESOURCES PRIVATE LIMITED	Director	21/02/2007	21/02/2007	01/10/2008	Active	NO
9	U92412MH2007PTC171016	Pan India Infraprojects Private Limited	Director	30/05/2008	22/05/2007	20/03/2013	Active	NO
10	U92412MH2008PTC183442	Essel Champs Private Limited	Director	12/06/2008	12/06/2008	-	Amalgamated	NO
11	U92412MH2008PTC183869	ICL Lions Private Limited	Director	23/06/2008	23/06/2008	24/09/2013	Active	NO
12	U92412MH2008PTC183874	Royal Bengal Sports Private Limited	Director	23/06/2008	23/06/2008	-	Active	NO
13	U70101MH2008PTC183873	ESSEL FINANCE CAPSTAR ADVISORY PRIVATE LIMITED	Director	23/06/2008	23/06/2008	-	Active	NO
14	U92412MH2008PTC183872	ICL SUPERSTARS SPORTS PRIVATE LIMITED	Director	23/06/2008	23/06/2008	-	Amalgamated	NO
15	U92412MH2008PTC183999	ICL HEROES SPORTS PRIVATE LIMITED	Director	25/06/2008	25/06/2008	-	Active	NO
16	U92190MH2007PLC177148	ESSEL ENTERTAINMENT MEDIA LIMITED	Additional director	04/07/2008	04/07/2008	-	Amalgamated	NO
17	U92412MH2008PTC184715	ICL ROCKETS SPORTS PRIVATE LIMITED	Director	16/07/2008	16/07/2008	-	Amalgamated	NO
18	U92412MH2008PTC184712	ICL GIANTS SPORTS PRIVATE LIMITED	Director	16/07/2008	16/07/2008	-	Amalgamated	NO
19	U45200MH2000PTC128252	PAN INDIA INFRASTRUCTURES PRIVATE LIMITED	Additional director	10/10/2008	10/10/2008	15/02/2011	Amalgamated	NO
20	U40300MH2009PTC189362	DIRECT MEDIA DISTRIBUTION VENTURES PRIVATE LIMITED	Director	05/01/2009	05/01/2009	-	Active	NO
21	U45203MH2009PLC193949	ESSEL BINA KHIMLASA MALTHON TOLL ROADS LIMITED	Director	09/07/2009	09/07/2009	10/11/2009	Active	NO
22	U45203MH2009PLC193948	ESSEL DAMOH - JABALPUR TOLL ROADS LIMITED	Director	09/07/2009	09/07/2009	30/07/2014	Active	NO
23	U45203MH2009PLC193947	ESSEL SAGAR DAMOH TOLL ROADS LIMITED	Director	09/07/2009	09/07/2009	30/07/2014	Active	NO
24	U45200MH2009PLC193950	ESSEL BHIND MIHONA GOPALPUR TOLL ROADS LIMITED	Director	09/07/2009	09/07/2009	10/11/2009	Active	NO
25	U70100MH1987PTC042701	VASANT SAGAR PROPERTIES PVT LTD	Director	29/09/2010	01/10/2009	-	Active	NO
26	L80301MH2010PLC198405	ZEE LEARN LIMITED	Director	04/01/2010	04/01/2010	-	Active	NO
27	L51900MH1984PLC034501	SHIRPUR GOLD REFINERY LIMITED	Director	30/11/2010	18/01/2010	26/04/2011	Active	NO
28	U45203MH2005PTC153937	ESSEL AIRPORT INFRASTRUCTURE PRIVATE LIMITED	Director	28/05/2010	31/03/2010	-	Active	NO
29	U74990MH2010PLC198648	ESSEL VISION PRODUCTIONS LIMITED	Director	05/07/2011	15/04/2011	29/05/2012	Active	NO
30	U90000MH2009PLC196399	TATVA GLOBAL ENVIRONMENT (DEONAR) LIMITED	Director	02/07/2012	30/07/2011	-	Active	NO
31	U45400MH2011PTC217032	ESSEL KIPL INFRASTRUCTURE PRIVATE LIMITED	Director	09/09/2013	09/08/2011	-	Active	NO
32	U74120MH2007NPL168278	ADHIKAAR FOUNDATION	Director	29/09/2012	22/08/2012	-	Active	NO
33	U92132WB1995PLC075754	INDIAN CABLE NET COMPANY LIMITED	Director	13/08/2013	22/04/2013	-	Active	NO
34	U74900MH2013PTC244379	ESSEL FINANCE PORTFOLIO MANAGERS PRIVATE LIMITED	Director	12/06/2013	12/06/2013	-	Active	NO
35	U65990MH1996PLC097941	ESSEL FINANCE BUSINESS LOANS LIMITED	Director	16/05/2014	03/04/2014	-	Active	NO
36	AAA-2200	CHURU ENTERPRISES LLP	Designated Partner	31/08/2012	31/08/2012	-	Active	NO
37	AAA-2199	PRAJATMA ENTERPRISES LLP	Designated Partner	31/08/2012	31/08/2012	-	Active	NO
38	AAA-2198	JAYNEER ENTERPRISES LLP	Designated Partner	31/08/2012	31/08/2012	-	Active	NO
39	AAB-2432	ESSEL PROPERTIES LLP	Designated Partner	05/12/2012	05/12/2012	14/08/2013	Active	NO
40	AAB-2632	ESSEL FINANCE ADVISORS AND MANAGERS LLP	Designated Partner	17/02/2014	17/12/2012	-	Active	NO
41	AAB-2774	ESSEL CAPITAL ADVISORS & MANAGERS LLP	Designated Partner	21/12/2012	21/12/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sudam
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.12.2011

Names of Shareholders		No. of Shares
Essel Corporate Resources Private Limited, India		990000
Total		990000

As on 31.03.2012

Names of Allottees		No. of Shares
Essel Corporate Resources Private Limited, India		9999
Essel Corporate Resources Private Limited, India Jointly With Himanshu Mody		1
Total		10000

Equity Share Break up (Percentage of Total Equity)

As on 27.12.2011

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Investment Company.

GENERAL INFORMATION

No. of Employees :	Information declined by the management

Bankers :	Not Divulged


Banking Relations :

Auditors :
Name :	J Singh and Associates Chartered Accountants
Address :	505/506/507, Hubtown Viva, Western Express Highway, Shankarwadi, Andheri (East), Mumbai – 400060, Maharashtra, India
Tel. No.:	91-22-66994618/66994619/28361081
Fax No.:	91-22-66994617
E-Mail :	jsingh@bom5.net.in
Website:	www.csjsingh.com
PAN N Income-tax PAN of auditor or auditor's firm :	AADFJ9230E

Holding company:	Essel Corporate Resources Private Limited [U74140MH2002PTC136737]

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013 (9 Months)	30.06.2012 (12 months)	30.06.2011 (3 Months)

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	10.000	10.000	0.100
(b) Reserves & Surplus	1908.847	2544.313	(0.045)
(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)	1918.847	2554.313	0.055

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	1.885	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	11.086	0.091	0.023
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	12.971	0.091	0.023

TOTAL	1931.818	2554.404	0.078

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1931.284	2554.323	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1931.284	2554.323	0.000

(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	0.385	0.081	0.078
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.149	0.000	0.000
Total Current Assets	0.534	0.081	0.078

TOTAL	1931.818	2554.404	0.078

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013 (9 Months)	30.06.2012 (12 months)	30.06.2011 (3 Months)
	SALES
	Income	0.000	0.000	0.000
	Other Income	0.000	0.000	0.000
	TOTAL	0.000	0.000	0.000

Less	EXPENSES
	Demat Charges	0.942	0.060	0.000
	Payment to auditors - Audit Fees	0.056	0.056	0.007
	Legal and Professional fees	11.148	0.049	0.000
	Miscellaneous Expenses	0.035	0.077	0.000
	Travelling fees	0.223	0.000	0.000
	Loss on transfer of non - current investment	623.039	0.000	0.000
	Preliminary Expenses written off	0.023	0.000	0.000
	TOTAL	635.466	0.242	0.007

	PROFIT/ (LOSS) BEFORE TAX	(635.466)	(0.242)	(0.007)

Less	TAX	0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX	(635.466)	(0.242)	(0.007)

	Earnings / (Loss) Per Share (Rs.)	(635.47)	(0.24)	(0.67)

KEY RATIOS

PARTICULARS		31.03.2013 (9 Months)	30.06.2012 (12 months)	30.06.2011 (3 Months)
PAT / Total Income	(%)	0.00	0.00	0.00

Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00

Return on Total Assets (PBT/Total Assets}	(%)	(119001.12)	(298.77)	(8.97)

Return on Investment (ROI) (PBT/Networth)		(0.33)	0.00	(0.13)

Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00

Current Ratio (Current Asset/Current Liability)		0.04	0.89	3.39

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	30.06.2011 (3 Months)	30.06.2012 (12 months)	31.03.2013 (9 Months)
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	10.000	10.000
Reserves & Surplus	(0.045)	2544.313	1908.847
Net worth	0.055	2554.313	1918.847

long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	1.885
Total borrowings	0.000	0.000	1.885
Debt/Equity ratio	0.000	0.000	0.001

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	No
24]	Banking facility details	No
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

FINANCIAL HIGHLIGHTS:

The Company had no business operations and therefore income during the year was Nil. The loss during the period was Rs. 635.466 Millions against previous year of Rs. 0.242 Million. The loss during the period was due to routine administration expenses and no corresponding revenue there against, as the Company has not yet started its actual operations.

CORPORATE INFORMATION

Subject was incorporated in State of Maharashtra on 5^th January 2009. Essel Corporate Resources Private Limited, the holding company holds the entire equity shares capital of the company.

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Short-term borrowings
Inter corporate deposit – from holding company – interest free	1.885	0.000

Total	1.885	0.000

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 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 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.60.92
UK Pound	1	Rs.98.66
Euro	1	Rs.78.64

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	RAS

Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--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	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.

MIRA INFORM REPORT

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INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

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