1. Summary Information

		Country	India
Company Name	RELIANCE RETAIL LIMITED	Principal Name 1	Mr. Pankaj Mohan Pawar
Status	Good	Principal Name 2	Mr. Pramod Madhukar Bhawalkar
		Registration #	11-120563
Street Address	3^rd Floor, Court House, Lokmanya Tilak Marg , Dhobi Talao, Mumbai - 400002, Maharashtra
Established Date	29.06.1999	SIC Code	--
Telephone#	91-22-44770000	Business Style 1	Departmental Stores
Fax #	91-22-44771882	Business Style 2	--
Homepage	www.reliancefresh.info	Product Name 1	--
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.10,500,000/-	Product Name 3	--
Shareholders	Bodies corporate -100%	Banking	HDFC Bank Limited
Public Limited Corp.	No	Business Period	15 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	A (62)
Related Company
Relation	Country	Company Name	CEO
Ultimate holding company	India	Reliance Industries Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	13811,500,000	Current Liabilities	128,642,000
Inventories	19592,300,000	Long-term Liabilities	0,000
Fixed Assets	16429,200,000	Other Liabilities	2,351,000
Deferred Assets	8034,100,000	Total Liabilities	223,667,000
Invest& other Assets	14312,200,000	Retained Earnings	(82.800,000)
		Net Worth	49812,600,000
Total Assets	72179,300,000	Total Liab. & Equity	72179,300,000
Total Assets (Previous Year)	50077,300,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	91260,300,000	Net Profit	(1352,100,000)
Sales(Previous yr)	38378,400,000	Net Profit(Prev.yr)	(2737,600,000)

MIRA INFORM REPORT

Report Date :

17.09.2014

Tel. No.:

91-2244771809

IDENTIFICATION DETAILS

Name :	RELIANCE RETAIL LIMITED (w.e.f. 13.07.2013)
Formerly Known As :	RELIANCE FRESH LIMITED (w.e.f. 18.01.2008) RANGER FARMS LIMITED (w.e.f. 10.02.2007) RANGER FARMS PRIVATE LIMITED
Registered Office :	3^rd Floor, Court House, Lokmanya Tilak Marg , Dhobi Talao, Mumbai - 400002, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	29.06.1999
Com. Reg. No.:	11-120563
Capital Investment / Paid-up Capital :	Rs.10.500 Millions
CIN No.: [Company Identification No.]	U01100MH1999PLC120563
TAN No.: [Tax Deduction & Collection Account No.]	MUMR19954E
PAN No.: [Permanent Account No.]	AABCR1718E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Departmental Stores.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

A (62)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 199300000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of “Reliance Group” a well–known and reputed industrial house. It is an established company having a fine track record. The company has recorded huge accumulated losses from its operations. However, the rating takes into consideration, the financially strong and resourceful parentage of the company. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. In view of strong group, the company can be considered normal 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.

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 = AAA
Rating Explanation	Have the highest degree of safety and carry lowest credit risk.
Date	22.08.2014

Rating Agency Name	CRISIL
Rating	Commercial Paper = A1+
Rating Explanation	Have very strong degree of safety and carry lowest credit risk.
Date	22.08.2014

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

Management Non Cooperative. (91-22-44772522 / 44770000)

LOCATIONS

Registered Office :	3^rd Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai - 400002, Maharashtra, India
Tel. No.:	91-22-44770000
Fax No.:	91-22-44771882
E-Mail :	reena.p.yadav@ril.com radhika.thorat@ril.com
Website :	http://www.reliancefresh.info www.ril.com
Corporate Office :	9^th Floor, Maker Chambers IV, 222, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-44772522
Fax No.:	91-22-22785211

DIRECTORS

AS ON 30.12.2013

Name :

Mr. Pankaj Mohan Pawar

Designation :

Whole Time Director

Address :

302, Archana, Surabh, Plot No.20, Sector 7, Koparkhairne, Navi Mumbai – 400709, Maharashtra, India

Date of Birth/Age :

14.07.1972

Date of Appointment :

01.04.2012

PAN No.:

AEAPP7976A

Qualification :

B. E, MBA

DIN No.:

00085077

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	U15130MH2003PLC139197	RETAIL CONCEPTS & SERVICES (INDIA) LIMITED	Director	30/03/2006	30/03/2006	24/03/2012	Amalgamated	NO
2	U01122MH2006PTC161600	RELIANCE PROLIFIC COMMERCIAL PRIVATE LIMITED	Director	24/09/2009	31/03/2009	09/10/2013	Active	NO
3	U51100GJ2005PTC046467	RELIANCE UNIVERSAL TRADERS PRIVATE LIMITED	Director	29/09/2009	31/03/2009	09/10/2013	Active	NO
4	U51100GJ2005PTC046538	RELIANCE EMINENT TRADING & COMMERCIAL PRIVATE LIMITED	Director	29/09/2009	31/03/2009	09/10/2013	Active	NO
5	U74999MH2007PTC168561	PARINITA COMMERCIALS PRIVATE LIMITED	Director	23/09/2009	31/03/2009	-	Active	NO
6	U74999MH2007PTC167375	EINSTEN COMMERCIALS PRIVATE LIMITED	Director	24/09/2009	31/03/2009	-	Active	NO
7	U65910GJ1975PTC002686	N.C.TRADING COMPANY PRIVATE LIMITED	Director	29/09/2009	31/03/2009	-	Active	NO
8	U51109MH2007PTC167447	KANISKA COMMERCIALS PRIVATE LIMITED	Director	29/09/2009	31/03/2009	-	Active	NO
9	U45201GJ2004PTC079666	MARUGANDHA LAND DEVELOPERS PRIVATE LIMITED	Director	30/09/2009	31/03/2009	-	Active	NO
10	U26931GJ2001PTC079679	SHREE SALASAR BRICKS PRIVATE LIMITED	Director	29/09/2009	31/03/2009	-	Active	NO
11	U51109MH2008PLC185094	RELIANCE NUTRITIOUS FOOD PRODUCTS LIMITED	Director	30/09/2009	01/07/2009	-	Active	NO
12	U52599MH2007PLC176409	RELIANCE HOME PRODUCTS LIMITED	Director	06/09/2010	17/08/2009	-	Amalgamated	NO
13	U51109MH2007PLC167805	RELIANCE UNIVERSAL VENTURES LIMITED	Director	07/08/2010	18/11/2009	-	Amalgamated	NO
14	U01403MH2007PTC170521	RELIANCE AGRI VENTURES PRIVATE LIMITED	Director	06/09/2010	31/03/2010	14/10/2010	Active	NO
15	U52100MH2007PLC175530	RELIANCE AGRI PRODUCTS DISTRIBUTION LIMITED	Director	04/08/2010	31/03/2010	11/04/2012	Amalgamated	NO
16	U51101MH2007PLC175511	RELIANCE FOOD PROCESSING SOLUTIONS LIMITED	Director	04/08/2010	31/03/2010	12/04/2012	Active	NO
17	U51900MH2007PLC174470	RELIANCE BRANDS LIMITED	Director	06/08/2010	31/03/2010	-	Active	NO
18	U15419MH2006PLC165826	RELIANCE DAIRY FOODS LIMITED	Director	06/08/2010	31/03/2010	-	Active	NO
19	U74140MH2000PLC128371	DELIGHT PROTEINS LIMITED	Director	06/08/2010	31/03/2010	-	Active	NO
20	U51909MH2006PLC166163	RELIANCE HYPER REALTY LIMITED	Director	31/12/2011	01/10/2010	-	Amalgamated	NO
21	U01100MH1999PLC120563	RELIANCE RETAIL LIMITED	Whole-time director	01/04/2012	01/10/2010	-	Active	NO
22	U70102MH2007PLC170415	RELIANCEDIGITAL RETAIL LIMITED	Director	04/08/2012	18/08/2011	-	Amalgamated	NO
23	U51909MH2006PLC166165	RELIANCE TRADING LIMITED	Director	04/08/2012	24/03/2012	-	Active	NO
24	U51101MH2007PLC171321	RELIANCE FOOTPRINT LIMITED	Director	04/08/2012	12/04/2012	-	Amalgamated	NO
25	U51109MH2008PTC178073	ANAGH COMMERCIALS PRIVATE LIMITED	Director	13/08/2013	29/06/2013	-	Active	NO
26	U51109MH2008PTC179553	STARFISH COMMERCIALS PRIVATE LIMITED	Director	13/08/2013	29/06/2013	-	Active	NO
27	U17120MH2008PTC180384	RELIANCE CLOTHING INDIA PRIVATE LIMITED	Additional director	12/12/2013	12/12/2013	-	Active	NO

Name :

Mr. Pramod Madhukar Bhawalkar

Designation :

Director

Address :

2/36, Om Trimurti CHS, Bhaktidham Marg, Off Sion Trombay Road, Chunabhati, Mumbai – 400022, Maharashtra, India

Date of Birth/Age :

18.01.1957

Date of Appointment :

04.08.2012

Qualification :

B.Sc. MPM

DIN No.:

01114946

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	U93090MH2007PLC167786	RELIANCE PEOPLE SERVE LIMITED	Director	12/02/2007	12/02/2007	-	Active	NO
2	U74999MH2007PLC167704	STRATEGIC MANPOWER SOLUTIONS LIMITED	Director	29/08/2008	07/01/2008	-	Active	NO
3	U51900MH2007PLC175640	RELIANCE INFRASTRUCTURE MANAGEMENT SERVICES LIMITED	Director	06/08/2010	05/10/2009	-	Active	NO
4	U51909MH2007PLC167793	RELIANCE INTEGRATED AGRI SOLUTIONS LIMITED	Director	31/12/2011	01/10/2010	-	Amalgamated	NO
5	U51109MH2007PLC167805	RELIANCE UNIVERSAL VENTURES LIMITED	Director	17/08/2011	01/10/2010	-	Amalgamated	NO
6	U52599MH2007PLC176414	KANHATECH SOLUTIONS LIMITED	Director	17/08/2011	14/10/2010	15/03/2012	Active	NO
7	U52599MH2007PLC168275	RESQ LIMITED	Director	12/08/2011	14/10/2010	-	Amalgamated	NO
8	U65990MH2007PLC170804	RELIANCE FINANCIAL DISTRIBUTION AND ADVISORY SERVICES LIMITED	Director	17/08/2011	14/10/2010	-	Active	NO
9	U67200MH2006PLC165651	RELIANCE RETAIL INSURANCE BROKING LIMITED	Director	17/08/2011	14/10/2010	-	Active	NO
10	U15419MH2006PLC165826	RELIANCE DAIRY FOODS LIMITED	Director	16/08/2011	14/10/2010	-	Active	NO
11	U70102MH2007PLC170415	RELIANCEDIGITAL RETAIL LIMITED	Director	04/08/2012	24/03/2012	-	Amalgamated	NO
12	U01100MH1999PLC120563	RELIANCE RETAIL LIMITED	Director	04/08/2012	24/03/2012	-	Active	NO
13	U52190MH2007PLC175508	RELIANCE SUPPLY CHAIN SOLUTIONS LIMITED	Director	30/07/2012	24/03/2012	-	Amalgamated	NO
14	U51909MH2006PLC166163	RELIANCE HYPER REALTY LIMITED	Director	28/09/2012	24/03/2012	-	Amalgamated	NO
15	U52100MH2007PLC172129	RELIANCE COMMERCIAL REALTY ASSETS LIMITED	Director	28/09/2012	24/03/2012	-	Amalgamated	NO
16	U01122MH2006PTC161600	RELIANCE PROLIFIC COMMERCIAL PRIVATE LIMITED	Additional director	08/10/2013	08/10/2013	-	Active	NO
17	U51100GJ2005PTC046467	RELIANCE UNIVERSAL TRADERS PRIVATE LIMITED	Additional director	08/10/2013	08/10/2013	-	Active	NO
18	AAC-0414	RESPRO SUPERCLEAN LLP	Designated Partner	29/01/2014	29/01/2014	-	Active	NO
19	AAC-0415	RESPRO ENGINEERING AND MAINTENANCE SERVICES LLP	Designated Partner	29/01/2014	29/01/2014	-	Active	NO
20	AAC-0416	RESPRO CUSTOMER SERVICES LLP	Designated Partner	29/01/2014	29/01/2014	-	Active	NO
21	AAC-0455	RESPRO FACILITY MANAGEMENT SERVICES LLP	Designated Partner	30/01/2014	30/01/2014	-	Active	NO
22	AAC-0536	RESPRO MEDICARE LLP	Designated Partner	03/02/2014	03/02/2014	-	Active	NO

Name :

Mr. Sanjay Narayan Jog

Designation :

Additional director

Address :

B – 702, Rushi Towers, Lokhandwala Complex, Swami Samarth Nagar, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

02.02.1960

Date of Appointment :

30.12.2013

DIN No.:

01727602

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	U52110MH2006PLC159581	FUTURE AXIOM TELECOM LIMITED	Director	07/02/2006	07/02/2006	05/12/2007	Active	NO
2	U74900MH1996PLC097943	FUTURE CORPORATE RESOURCES LIMITED	Additional director	01/06/2009	01/06/2009	10/07/2009	Amalgamated	NO
3	U74999MH2008PLC181051	FUTURE LEARNING AND DEVELOPMENT LIMITED	Director	09/10/2009	09/10/2009	-	Active	NO
4	U80301MH2008PLC184089	FUTURE EDUCATION LIMITED	Director	30/09/2010	01/06/2010	-	Active	NO
5	U74999MH2007PLC167704	STRATEGIC MANPOWER SOLUTIONS LIMITED	Director	19/08/2013	27/01/2013	-	Active	NO
6	U51109MH2007PTC176276	RELIANCE-GRANDVISION INDIA SUPPLY PRIVATE LIMITED	Director	04/07/2013	03/07/2013	24/09/2013	Active	NO
7	U51900MH2007PTC175637	RELIANCE-VISION EXPRESS PRIVATE LIMITED	Director	04/07/2013	03/07/2013	24/09/2013	Active	NO
8	U01100MH1999PLC120563	RELIANCE RETAIL LIMITED	Additional director	30/12/2013	24/12/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Akanksha Nilay Mota
Designation :	Secretary
Address :	07- Alok Society Sant Tukaram Road Mulund (East), Mumbai - 400081
Date of Birth/Age :	22.04.1985
Date of Appointment :	18.07.2013
PAN No.:	AJVPM9052A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.12.2013

Note: Shareholding details file attached

Equity Share Break up (Percentage of Total Equity)

AS ON 30.12.2013

Category	Percentage
Bodies corporate	99.93
Others	0.07
Total	100.00

BUSINESS DETAILS

Line of Business :

Departmental Stores.

Products :

Product Description	Item Code No.
Food	99622290
Non Food	99622590
Support Services	99839900

GENERAL INFORMATION

No. of Employees :

Information declined by the management.

Bankers :

HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Rupee term loans from banks	38.100	13.100
Long-term maturities of finance lease obligations	29.300	7.200
Total	67.400	20.300

Banking Relations :	---
Auditors :
Name :	Chaturvedi and Shah Chartered Accountants
Address :	714/715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400 021, Maharashtra, India
PAN.:	AAAFC0662N
Name :	S. V. Ghatalia and Associates Chartered Accountants
Address :	16th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai 400028, Maharashtra, India
PAN.:	AACFS6921Q
Ultimate holding company: (As on 31.03.2013)	Reliance Industries Limited, India CIN: L17110MH1973PLC019786
Holding company: (As on 31.03.2013)	· Reliance Universal Ventures Limited (From 30-11-2012) [U51109MH2007PLC167805] · Reliance Retail Ventures Limited (From 30-11-2012) [U51909MH2006PLC166166] (formerly Reliance Commercial Associates Limited) · Reliance Industrial Investments and Holdings Limited (From 30-11-2012 to 05-03-2013)
Subsidiaries: (As on 31.03.2013)	· Delight Proteins Limited, India CIN: U74140MH2000PLC128371 Reliance Agri Products Distribution Limited (U52100MH2007PLC175530) · Reliance Dairy Foods Limited, India (from 31st January, 2012) CIN: U15419MH2006PLC165826 · Reliance F and B Services Limited, India CIN: U85190MH2000PLC126442 · Reliance Food Processing Solutions Limited, India CIN: U51101MH2007PLC175511 · Reliance Home Products Limited, India CIN: U52599MH2007PLC176409 Reliance Home Store Limited (upto 30th January, 2012) CIN:U51101MH2007PLC175510 · Reliance Leisures Limited (U52100MH2007PLC175533) · Reliance Loyalty and Analytics Limited, India (from 31st January, 2012) CIN: U51101MH2007PLC175624 · Reliance Petro Marketing Limited, India CIN: U74210MH1999PLC120377 · Reliance Replay Gaming Limited, India (from 31st January, 2012) CIN: U51109MH2008PLC185068 · Reliance Review Cinema Limited, India (from 31st January, 2012) CIN: U51109MH2008PLC185095 Reliance Supply Chain Solutions Limited (U52190MH2007PLC175508) · Retail Concepts and Services (India) Limited (upto 30th January, 2012) · RESQ Limited [U52599MH2007PLC168275] · Reliance Retail Insurance · Broking Limited [U67200MH2006PLC165651] · Reliancedigital Retail Limited [U70102MH2007PLC170415] · Reliance Trends Limited [U51909MH2006PLC166165] · Reliance Footprint Limited [U51101MH2007PLC171321] · Reliance Autozone Limited [U74140MH2000PLC128398] · Reliance Trade Services Centre Limited [U51900MH2007PLC175636] · Reliance Digital Media Limited [U51909MH2007PLC175652] · Reliance Office Solutions Private Limited [U51109MH2008PTC185092] · LPG Infrastructure (India) Limited [U65990MH1992PLC067949] · Reliance Nutritious Food Products Limited [U51109MH2008PLC185094] · Reliance Financial Distribution and Advisory Services Limited [U65990MH2007PLC170804] · Reliance Infrastructure Management Services Limited [U51900MH2007PLC175640] · Reliance Integrated Agri Solutions Limited [U51909MH2007PLC167793] · Reliance People Serve Limited [U93090MH2007PLC167786] · Achman Commercial Private Limited [U51109MH2008PTC185494] · Reliance Personal Electronics Limited [U51109MH2007PLC176416] · Reliance Retail Finance Limited [U17110MH2000PLC123731] · Reliance Retail Securities and Broking Company Limited [U51900MH2007PLC175670] · Reliance-GrandOptical Private Limited [U51900MH2007PTC175638] · Reliance Styles India Limited U17120MH2008PLC180309
Fellow subsidiaries: (As on 31.03.2013)	· Strategic Manpower Solutions Limited, India CIN: U74999MH2007PLC167704 · Reliance Payment Solutions Limited [U65923MH2007PLC173923] · Reliance Brands Limited [U51900MH2007PLC174470] · Reliance Corporate IT Park Limited [U74140MH2001PLC131458] · Reliance Polyolefins Limited [U99999MH1992PLC065847] · Indiawin Sports Private Limited [U51109MH2007PTC176254] · Reliance Jio Infocomm Limited [U72900MH2007PLC234712] · Reliance Industrial Investments and Holdings Limited [U65910MH1986PLC041081] · Reliance Commercial Land and Infrastructure Limited [U51109MH2008PLC185389] · Reliance Security Solutions Limited [U51109MH2008PLC185401] · Reliance Commercial Realty Assets Limited [U52100MH2007PLC172129] · Reliance Hyper Realty Limited [U51909MH2006PLC166163] · Reliance Style Fashion India Private Limited [U51310MH2008PTC178078] · Reliance Industries Investment and Holding Limited [U67190MH2007PLC168008] · Reliance Strategic Investments Limited [U65990MH1999PLC120918] · Reliance Petroinvestments Limited [U72900MH1999PLC121039]
Joint venture :	· Reliance Gen Next Commercials Private Limited [U70102MH2008PTC183776] · Reliance New Gen Commercials Private Limited [U70102MH2008PTC183777] · Reliance-GrandVision India Supply Private Limited [U51109MH2007PTC176276] · Reliance-Vision Express Private Limited [U51900MH2007PTC175637] · Marks and Spencer Reliance India Private Limited [U51900MH2007PTC175711] · Supreme Tradelinks Private Limited (wholly owned subsidiary of Marks and Spencer Reliance India Private Limited) [U51311RJ2002PTC017552] · Office Depot Reliance Supply Solutions Private Limited [U36991MH1999PTC119874]

CAPITAL STRUCTURE

AS ON 30.12.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
15,000,000,000	Equity Shares	Rs.10/- each	Rs. 150000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4,989,541,650	Equity Shares	Rs.10/- each	Rs. 49895.417 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1050000	Equity Shares	Rs.10/- each	Rs. 10.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1050000	Equity Shares	Rs.10/- each	Rs. 10.500 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	10.500	10.500	10.500
(b) Reserves & Surplus	(82.800)	(12950.900)	(10213.300)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	49884.900	0.000	0.000
Total Shareholders’ Funds (1) + (2)	49812.600	(12940.400)	(10202.800)
(3) Non-Current Liabilities
(a) long-term borrowings	9267.400	58728.300	47581.700
(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	225.300	108.800	70.000
Total Non-current Liabilities (3)	9492.700	58837.100	47651.700
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	9737.400	3085.500	2073.100
(c) Other current liabilities	3126.800	1089.500	563.400
(d) Short-term provisions	9.800	5.600	15.200
Total Current Liabilities (4)	12874.000	4180.600	2651.700
TOTAL	72179.300	50077.300	40100.600
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	16423.400	23244.200	23629.300
(ii) Intangible Assets	5.800	0.000	0.000
(iii) Capital work-in-progress	4158.700	3811.700	3221.900
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	9953.300	2455.400	19.100
(c) Deferred tax assets (net)	8034.100	6165.100	4677.400
(d) Long-term Loan and Advances	8645.300	5861.900	4017.800
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	47220.600	41538.300	35565.500
(2) Current assets
(a) Current investments	200.200	0.000	0.000
(b) Inventories	19592.300	5313.700	3237.000
(c) Trade receivables	1643.400	1480.900	295.100
(d) Cash and cash equivalents	894.900	203.200	144.200
(e) Short-term loans and advances	2627.500	1541.100	858.800
(f) Other current assets	0.400	0.100	0.000
Total Current Assets	24958.700	8539.000	4535.100
TOTAL	72179.300	50077.300	40100.600

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations	91260.300	38378.400	28670.000
		Other Income	191.200	8.500	256.400
		TOTAL (A)	91451.500	38386.900	28926.400
Less	EXPENSES
		Purchases of stock-in-trade	74208.200	33270.800	24295.500
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(1810.400)	(2034.700)	105.400
		Employee benefit expense	3732.500	1752.800	1078.300
		Other expenses	13872.300	7564.100	7163.100
		TOTAL (B)	90002.600	40553.000	32642.300
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1448.900	(2166.100)	(3715.900)
Less	FINANCIAL EXPENSES (D)		734.800	2.400	1.600
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		714.100	(2168.500)	(3717.500)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2804.800	2056.800	1106.100
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(2090.700)	(4225.300)	(4823.600)
Less	TAX (H)		(738.600)	(1487.700)	(1365.400)
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(1352.100)	(2737.600)	(3458.200)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(12950.900)	(10213.300)	(4119.278)
	Transferred on Demerger		0.000	0.000	(2635.800)
	BALANCE CARRIED TO THE B/S		(11598.800)	(12950.900)	(10213.300)
	Earnings / (Loss) Per Share		(2.70)	(2607.24)	(13536.01)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(1.48)	(7.13)	(11.96)
Net Profit Margin (PBT/Sales)	(%)	(2.29)	(11.01)	(16.82)
Return on Total Assets (PBT/Total Assets}	(%)	(4.18)	(11.22)	(14.99)
Return on Investment (ROI) (PBT/Networth)		(0.04)	(0.33)	(0.47)
Debt Equity Ratio (Total Debt /Networth)		0.19	(4.54)	(0.47)
Current Ratio (Current Asset/Current Liability)		1.94	2.04	1.71

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	10.500	10.500	10.500
Reserves & Surplus	(10213.300)	(12950.900)	(82.800)
Share application money pending allotment	0.000	0.000	49884.900
Net worth	(10202.800)	(12940.400)	49812.600
long-term borrowings	47581.700	58728.300	9267.400
Short term borrowings	0.000	0.000	0.000
Total borrowings	47581.700	58728.300	9267.400
Debt/Equity ratio	(4.664)	(4.538)	(128.180)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	28670.000	38379.400	91260.300
		33.866	137.785

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	28670.000	38379.400	91260.300
Profit	(3458.200)	(2737.600)	(1352.100)
	(12.06)%	(7.13)%	(1.48)%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
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	Yes
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Loans and advances from related parties	9200.000	58708.000
Total	9200.000	58708.000

OPERATIONS :

The Company Continued its growth journey during the year with new store launches as well as strong same store sales growth across various formats. The business registered revenue of Rs. 91260.300 Millions In the financial year

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10344114	01/03/2012	42,500,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel (West) , Mumbai, Maharashtra - 400013, India	B35773571
2	10154320	30/03/2009	22,500,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel (West) , Mumbai, Maharashtra - 400013, India	A60806841
3	10065388	28/02/2007	100,000,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel (West) , Mumbai, Maharashtra - 400013, India	A12463303

* Date of charge modification

SCHEME OF ARRANGEMENT AND AMALGAMATIONs

In terms of the Scheme of Arrangement and Amalgamation (“the Scheme”) under sections 391 to 394 of the Companies Act, 1956 as sanctioned by the Bombay High Court, the domestic trading divisions of Reliancedigital Retail Limited, Reliance Footprint Limited, Reliance Gems and Jewels Limited, Reliance Leisures Limited and Reliance Trends Limited were demerged into and vested with the Company. Pursuant to the Scheme, Reliance Autozone Limited, Reliance Digital Media Limited, Reliance Replay Gaming Limited, RESQ Limited and Reliance Retail Limited were amalgamated with the Company. The Scheme has come into effect on 1 st July, 2013, the appointed date of the Scheme being 1 st April, 2012.

Note :

The company changed its registered office from 4^th Floor, “Brindavan” Shriram Mills Compound, Ganpatrao Kadam Marg, Worli, Mumbai – 400013, Maharashtra, India to Reliance Corporate Park, Building No. 4, Ground Floor, 'C' Wing, Thane-Belapur Road, Ghansoli, Navi Mumbai – 400701, Maharashtra, India w.e.f. 01.09.2008.

The registered office has again shifted from Reliance Corporate Park, Building No. 4, Ground Floor, 'C' Wing, Thane-Belapur Road, Ghansoli, Navi Mumbai – 400701, Maharashtra, India to the present address w.e.f. 21.11.2011.

FIXED ASSETS

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Land

· Buildings

· Office building

· Vehicles

· Computer software

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. 60.84
UK Pound	1	Rs.98.72
Euro	1	Rs.78.64

INFORMATION DETAILS

Information Gathered by :
Analysis Done by :	RAS
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	6
--CREDIT LINES	1~10	7
--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		62

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.