MIRA INFORM REPORT

Report No. :	315502
Report Date :	01.04.2015

IDENTIFICATION DETAILS

Name :	FOCUS FITNESS PRIVATE LIMITED
Registered Office :	706, Gateway Plaza Co-Operative Premises Society Limited, 7^th Floor, Hiranandani Garden, Powai, Mumbai – 400 076, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	22.08.2013
Com. Reg. No.:	11-247338
Capital Investment / Paid-up Capital :	Rs.0.100 million
CIN No.: [Company Identification No.]	U74900MH2013PTC247338
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of importing of gym equipments, trading and providing services of designing and setting up of new Gym/Health Clubs, Fitness Studios and to also carry on the business of Management of Health Clubs /Fitness Centres and SPAs and also trading in SPA Equipments, Renting of Gym/Health equipments and such other health related activities.
No. of Employees :	Information declined by the Management.

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :	Relatively New Business
Payment Behaviour :	Slow and delayed
Litigation :	Clear
Comments :	Subject is a relatively new company incorporated in the year August 2013. The company has reported loss during the financial year 2013-14, which has eroded its networth. However, business is active. Payments are reported to be slow and delayed. The company can be considered for business dealings on fully safe and secured trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

EXTERNAL AGENCY RATING

NOT AVAILABLE

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 DECLINED BY

Name :	Ms. Asha
Designation :	Account Assistant
Contact No.:	91-22-40150525
Date :	31.03.2015

LOCATIONS

Registered Office :	706, Gateway Plaza Co-Operative Premises Society Limited, 7^th Floor, Hiranandani Garden, Powai, Mumbai – 400 076, Maharashtra, India
Tel. No.:	91-22-40150525
Fax No.:	91-22-40150525
E-Mail :	krishnan@focusfitness.in customercare@focusfitness.com trushnajhaverics@gmail.com info@focusfitness.in
Website :	http://www.focusfitness.in

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Sudhir Ramdas Nair
Designation :	Director
Address :	A-101, Techno Park-1, Oil Field CHS, Thakur Village, Kandivali (East), Mumbai – 400 101, Maharashtra, India
Date of Birth/Age :	13.11.1997
Date of Appointment :	22.08.2013
DIN No.:	06651687
Name :	Mr. Mavila Kunhi Krishnan
Designation :	Director
Address :	602, Tower-8, The Orchard Residency, Next to R City Mall, L.B.S. Marg, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India
Date of Birth/Age :	12.02.1969
Date of Appointment :	22.08.2013
DIN No.:	06651695

KEY EXECUTIVES

Name :	Ms. Asha
Designation :	Account Assistant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of holding
Sudhir Ramdas Nair	5000	50.00
Mavila Kunhi Krishnan	5000	50.00
Total	10000	100.00

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of importing of gym equipments, trading and providing services of designing and setting up of new Gym/Health Clubs, Fitness Studios and to also carry on the business of Management of Health Clubs /Fitness Centres and SPAs and also trading in SPA Equipments, Renting of Gym/Health equipments and such other health related activities.

Products/ Services :

Item Code No. (ITC Code)	95069190
Product Description	Gymnasium and Athletics Equipment

· Equipment Maintenance

· Leasing Services

· Management Services

· Design Services

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the Management.

Bankers :

Banker Name	Union Bank of India
Branch Address	Mandpeshwar Road Branch, Sanjay Apartments, S.V.P. Road, Borivili (West), Mumbai – 400 092, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)
SHORT TERM BORROWINGS
Loan Repayable on Demand
Cash Credit from Bank	1.753
Total	1.753

a. Cash Credit Limit from Banks is secured by hypothecation of all stock, book debts and equitable mortgage on residential property of Director as a collateral Security

b. Cash Credit Limit from bank carry interest @ 13.25% p.a.

Banking Relations :	--
Auditors :
Name :	D.D. Vora and Company (Proprietor-Deepak Vora) Chartered Accountants
Address :	169/4, Jawahar Nagar, Road No.2, Goregaon (West), Mumbai – 400 062, Maharashtra, India
Tel. No. :	91-22-28732217
E-Mail :	ddvora_ca@rediffmail.com
PAN No.:	AABPV8717E
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	(0.410)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	(0.310)
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) Long-term provisions	0.000
Total Non-current Liabilities (3)	0.000
(4) Current Liabilities
(a) Short term borrowings	4.110
(b) Trade payables	3.161
(c) Other current liabilities	2.605
(d) Short-term provisions	0.000
Total Current Liabilities (4)	9.876
TOTAL	9.566
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.032
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.241
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
Total Non-Current Assets	1.273
(2) Current assets
(a) Current investments	0.000
(b) Inventories	1.645
(c) Trade receivables	2.754
(d) Cash and cash equivalents	3.368
(e) Short-term loans and advances	0.526
(f) Other current assets	0.000
Total Current Assets	8.293
TOTAL	9.566

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Revenue from operations	8.172
		Other Income	0.012
		TOTAL	8.184
Less	EXPENSES
		Purchase of Stock-in-Trade	5.351
		Changes in inventories of Stock-in-Trade	(1.645)
		Employee benefit expense	0.595
		Other expenses	4.317
		TOTAL	8.618
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.434)
Less	FINANCIAL EXPENSES		0.163
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.597)
Less/ Add	DEPRECIATION/ AMORTISATION		0.054
	PROFIT/ (LOSS) BEFORE TAX		(0.651)
Less	TAX		(0.241)
	PROFIT/ (LOSS) AFTER TAX		(0.410)
	VALUE OF IMPORTS CALCULATED ON C.I.F BASIS		0.073
	Earnings / (Loss) Per Share (Rs.)		(41.02)

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT/Sales)	(%)	(5.02)
Operating Profit Margin (PBDIT/ Sales)	(%)	(5.31)
Return on Total Assets (PBT/Total Assets}	(%)	(6.98)
Return on Investment (ROI) (PBT/Networth)		2.10
Debt Equity Ratio (Total Debt/Networth)		(13.26)
Current Ratio (Current Asset/Current Liability)		0.84

LOCAL AGENCY FURTHER INFORMATION

NOTE: Current Maturities of Long Term Debts is Not Available.

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 about 7 months	Yes
12]	Profitability for last about 7 months	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
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	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Note:

The registered office of the company has been shifted from 602, Tower 8, Oak The Orchard Residency, L.B.S. Marg, B/H R City Mall, Ghatkopar (West), Mumbai – 400 086, Maharashtra to the present address w.e.f. 01.11.2013.

OPERATIONS:

During the year, the company has achieved a turnover of Rs.8.172 million and made a Loss of Rs.0.410 million after making provision for tax. The company is hopeful of achieving better performance in the next year.

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)
SHORT TERM BORROWINGS
From Directors	2.357
Total	2.357

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10484446	03/03/2014	9,900,000.00	UNION BANK OF INDIA	MANDPESHWAR ROAD BRANCH, SANJAY APARTMENTS, S.V.P. ROAD, BORIVILI (WEST), MUMBAI, MAHARASHTRA - 400092, INDIA	C00319814

FIXED ASSETS

· Car

· Computer and Peripherals

· Office Equipments

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.62.59
UK Pound	1	Rs.92.46
Euro	1	Rs.67.51

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	SUC
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
-- PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.