MIRA INFORM REPORT

Report No. :	317963
Report Date :	18.04.2015

IDENTIFICATION DETAILS

Name :	ZUARI INFRAWORLD INDIA LIMITED (w.e.f. 02.12.2010)
Formerly Known As :	ZUARI DEVELOPERS LIMITED (w.e.f. 29.01.2010) ZUARI DEVELOPERS PRIVATE LIMITED (w.e.f. 07.02.2008) ANIL KUMAR M N DEVELOPERS PRIVATE LIMITED
Registered Office :	Adventz Center, 1^st Floor, No. 28, Cubbon Road, Bangalore – 560001, Karnataka
Tel. No. :	91-80-49066900
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.06.2007
Com. Reg. No.:	08-043161
Capital Investment / Paid-up Capital :	Rs. 465.500 Million
CIN No.: [Company Identification No.]	U45309KA2007PLC043161
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	BLRZ10948A
PAN No.: [Permanent Account No.]	AAACZ3205D
Legal Form :	A Closely Held Public Limited liability Company
Line of Business :	Subject engaged into infrastructure activity.
No. of Employees :	45 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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 :	The subject is a wholly owned subsidiary of Zaire Global Limited It is an established company having a moderate track record. The company has recorded accumulated losses which have deteriorated the position of net worth. However, the company has reported decent profitability during the financial year 2013-14 which would help the company eradicate its losses. Trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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 PARTED BY

Name :	Ms. Ramya
Designation :	Office Assistant
Contact No.:	91-80-4906690
Date :	17.04.2015

LOCATIONS

Registered Office :	Adventz Center, 1^st Floor, No. 28, Cubbon Road, Bangalore – 560001, Karnataka, India
Tel. No.:	91-80-49066900 / 49066970
Fax No.:	91-80-49066901
E-Mail :	pritam@adventzinfra.com
Website :	http://www.adventz.com

DIRECTORS

AS ON 28.08.2014

Name :

Mr. Akshay Poddar

Designation :

Director

Address :

Poddar Niket, 2, Gurusaday Road, Culcutta – 700019, West Bengal, India

Date of Birth/Age :

20.07.1976

Date of Appointment :

01.05.2013

DIN No. :

00008686

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	U65993WB1996PTC079012	ADVENTZ FINANCE PRIVATE LIMITED	Director	29/07/1997	29/07/1997	-	Active	NO
2	U01132WB1993PLC060495	SYNDAK TEA TECH LTD	Director	09/02/1998	09/02/1998	30/04/2014	Active	NO
3	L15421WB1952PLC020577	GOBIND SUGAR MILLS LTD.	Director	04/04/2000	04/04/2000	24/08/2012	Active	NO
4	L51226WB1985PLC039055	ADVENTZ INVESTMENTS AND HOLDINGS LIMITED	Managing director	01/04/2010	12/12/2000	-	Amalgamated	NO
5	U67120WB1986PTC040276	ABHISHEK HOLDINGS PRIVATE LIMITED	Director	10/01/2001	10/01/2001	-	Active	NO
6	L36993WB1995PLC069510	ADVENTZ SECURITIES ENTERPRISES LIMITED	Director	12/03/2012	28/04/2001	-	Active	NO
7	L28931RJ1984PLC002890	GILLETTE INDIA LIMITED	Director	09/02/2002	09/02/2002	27/12/2013	Active	NO
8	U24129OR1981PLC001020	PARADEEP PHOSPHATES LTD	Nominee director	28/02/2002	28/02/2002	29/10/2014	Active	NO
9	U51109WB1924PLC004829	LIONEL EDWARDS LTD	Director	09/04/2003	09/04/2003	-	Active	NO
10	U55101DL2004PTC127579	PULSE FOODS INDIA PRIVATE LIMITED	Director	14/07/2004	14/07/2004	19/03/2009	Active	NO
11	U55204MH2008PLC182253	PULSE INDAGE HOSPITALITY LIMITED	Director	15/05/2008	15/05/2008	-	Strike off	NO
12	U85300WB1926GAP005585	INDIAN CHAMBER OF COMMERCE CALCUTTA	Director	02/08/2014	30/06/2008	-	Active	NO
13	L70101WB1939PLC009800	TEXMACO INFRASTRUCTURE & HOLDINGS LIMITED	Director	11/09/2008	11/09/2008	-	Active	NO
14	U51909WB1993PTC059849	GREENLAND TRADING PVT LTD	Director	25/09/2008	16/09/2008	-	Active	NO
15	U51909WB1993PTC059434	INDRAKSHI TRADING COMPANY PVT. LTD.	Director	25/09/2008	16/09/2008	-	Active	NO
16	U51909WB1994PTC062183	ADVENTZ INVESTMENT COMPANY PRIVATE LIMITED	Director	07/09/2009	16/09/2008	-	Active	NO
17	U51109WB1994PTC065332	ADVENTZ SECURITIES TRADING PRIVATE LIMITED	Director	07/09/2009	16/09/2008	-	Amalgamated	NO
18	U36101TN1998PLC039842	STYLE SPA FURNITURE LIMITED	Director	29/05/2009	30/04/2009	-	Amalgamated	NO
19	U51909WB2009PLC139640	New Eros Tradecom Limited	Nominee director	23/11/2009	23/11/2009	03/08/2011	Active	NO
20	U91990WB1999NPL089828	YPO (CALCUTTA)	Director	30/09/2011	25/03/2011	-	Active	NO
21	L65921GA1967PLC000157	ZUARI GLOBAL LIMITED	Alternate director	31/07/2013	09/05/2011	08/05/2014	Active	NO
22	L29261WB1998PLC087404	TEXMACO RAIL & ENGINEERING LIMITED	Director	29/08/2012	22/07/2011	-	Active	NO
23	L65910GA2009PLC006177	ZUARI AGRO CHEMICALS LIMITED	Director	20/12/2014	14/11/2011	-	Active	NO
24	U74999WB2011PTC167754	TOUAX TEXMACO RAILCAR LEASING PRIVATE LIMITED	Director	07/12/2012	16/06/2012	-	Active	NO
25	U45309KA2007PLC043161	ZUARI INFRAWORLD INDIA LIMITED	Director	01/05/2013	01/05/2013	-	Active	NO
26	U52110WB1997PLC083860	LIONEL INDIA LIMITED	Director	28/10/2013	28/10/2013	-	Active	NO
27	U36109MH1999PTC161129	HETTICH INDIA PRIVATE LIMITED	Additional director	29/08/2014	29/08/2014	-	Active	NO
28	U74900WB2015PTC204931	ADVENTZ HOMECARE PRIVATE LIMITED	Director	13/01/2015	13/01/2015	-	Active	NO

Name :

Mr. Narayanan Suresh Krishnan

Designation :

Director

Address :

B-1, Zuari Industries, Residential Colony, Zuari Nagar, Goa – 403726, India

Date of Birth/Age :

03.06.1964

Date of Appointment :

19.09.2008

DIN No. :

00021965

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	U40109TG2005PLC046893	SITAPURAM POWER LIMITED	Director	18/07/2005	18/07/2005	20/10/2008	Active	NO
2	U26942AP2000PLC050415	ZUARI CEMENT LIMITED	Director	07/02/2006	07/02/2006	06/12/2006	Active	NO
3	U24124OR2002PTC017414	ZUARI MAROC PHOSPHATES Private Limited	Managing director	07/05/2013	08/11/2006	-	Active	NO
4	U66010GA2003PLC003185	Zuari Insurance Brokers Limited	Director	07/09/2007	13/11/2006	22/09/2010	Active	NO
5	U74900GA2006PLC004921	Zuari Management Services Limited	Director	06/12/2006	06/12/2006	01/09/2014	Active	NO
6	U11202GA2000PTC002869	ZUARI INDIAN OILTANKING Private Limited	Director	26/09/2008	12/12/2006	26/09/2013	Active	NO
7	U01122GA1995PLC001751	ZUARI AGRI SCIENCES LIMITED	Director	24/09/2007	15/03/2007	-	Active	NO
8	U72200TN2000PLC089255	INDIAN FURNITURE PRODUCTS LIMITED	Director	07/09/2007	26/03/2007	-	Active	NO
9	U65993GA1995PLC001942	ZUARI INVESTMENTS LIMITED	Director	07/09/2007	07/09/2007	29/08/2014	Active	NO
10	U26941KA2007PLC054428	GULBARGA CEMENT LIMITED	Director	30/10/2007	30/10/2007	08/01/2015	Active	NO
11	U01409GA2007PLC005489	ZUARI ROTEM SPECIALITY FERTILIZERS LIMITED	Director	24/09/2014	15/11/2007	-	Active	NO
12	U45309KA2007PLC043161	ZUARI INFRAWORLD INDIA LIMITED	Director	19/09/2008	11/12/2007	-	Active	NO
13	U27205DL2008PLC180160	Zuari Commodity Trading Limited	Director	27/06/2008	27/06/2008	10/08/2010	Active	NO
14	U65100GA2008PLC007282	Zuari Financial Services Limited	Director	27/06/2008	27/06/2008	10/08/2010	Active	NO
15	U24120GA2009PLC006158	ZUARI FERTILISERS AND CHEMICALS LIMITED	Director	11/08/2009	11/08/2009	-	Active	NO
16	L65910GA2009PLC006177	ZUARI AGRO CHEMICALS LIMITED	Director	01/04/2015	10/09/2009	-	Active	NO
17	U74900WB2010PLC183704	ADVENTZ INDUSTRIES INDIA LIMITED	Director	14/06/2010	14/06/2010	18/08/2014	Active	NO
18	L65921GA1967PLC000157	ZUARI GLOBAL LIMITED	Managing director	01/04/2015	21/01/2011	-	Active	NO
19	U85300DL1955NPL002999	THE FERTILISER ASSOCIATION OF INDIA.	Director	28/09/2012	07/12/2011	-	Active	NO
20	L15421WB1952PLC020577	GOBIND SUGAR MILLS LTD.	Director	28/12/2012	21/08/2012	-	Active	NO
21	U45400GA2013PTC007382	VALLEY VIEW LANDHOLDINGS PRIVATE LIMITED	Director	12/12/2013	12/12/2013	-	Active	NO
22	U45400GA2013PTC007383	HORIZONVIEW DEVELOPERS PRIVATE LIMITED	Director	14/12/2013	14/12/2013	-	Active	NO

Name :

Mr. Ramkrishna Yeshwantrao Patil

Designation :

Director

Address :

B-4, Zuari Residential Colony, Zuari Nagar, Goa – 403726, India

Date of Birth/Age :

20.07.1958

Date of Appointment :

28.08.2014

DIN No. :

01680046

Name :

Mr. Vishwajit Kumar Sinha

Designation :

Director

Address :

B-82, First Floor, Suncity Sector 54, Gurgaon – 122003, Haryana, India

Date of Birth/Age :

01.09.1963

Date of Appointment :

16.09.2009

DIN No. :

02702645

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	U45309KA2007PLC043161	ZUARI INFRAWORLD INDIA LIMITED	Director	16/09/2009	19/08/2009	-	Active	NO
2	U26941KA2007PLC054428	GULBARGA CEMENT LIMITED	Director	30/09/2010	20/11/2009	10/09/2011	Active	NO
3	U11202GA2000PTC002869	ZUARI INDIAN OILTANKING Private Limited	Alternate director	30/04/2012	30/04/2012	25/09/2013	Active	NO
4	U72200TN2000PLC089255	INDIAN FURNITURE PRODUCTS LIMITED	Director	17/09/2013	19/09/2012	-	Active	NO
5	U74900GA2006PLC004921	Zuari Management Services Limited	Additional director	01/09/2014	01/09/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Alok Banerjee
Designation :	Manager
Address :	Apartment 41 Tower 1, Southcity, Projects 275, Anwar Shah Road, Kolkata – 700068, West Bengal, India
Date of Birth/Age :	24.04.1963
Date of Appointment :	01.05.2013
PAN No.:	ACWPB7126J
Name :	Mr. Pritam Mohapatra Das
Designation :	Secretary
Address :	C/O. A.T. Shivanna House No. 231^st Cross, LB Shastry Nagar, Bangalore – 560017, Karnataka, India
Date of Birth/Age :	20.05.1982
Date of Appointment :	06.05.2013
PAN No.:	AIQPM0968F
Name :	Ms. Ramya
Designation :	Office Assistant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.08.2014

Names of Shareholders	No. of Shares
Zuari Global Limited (Formerly Zuari Industries Limited) Jointly with Mr. Narayanan Suresh Krishnan	8960
Zuari Global Limited (Formerly Zuari Industries Limited) Jointly with Ms. Stephanie Vaz	5
Zuari Global Limited (Formerly Zuari Industries Limited) Jointly with Mr. Mahesh M	5
Zuari Global Limited (Formerly Zuari Industries Limited) Jointly with Mr. Chandrashekar Nayak	10
Zuari Global Limited (Formerly Zuari Industries Limited) Jointly with Mr. V Seshadri	10
Zuari Global Limited (Formerly Zuari Industries Limited) Jointly with Mr. Harsha Raja Urs	10
Zuari Global Limited (Formerly Zuari Industries Limited) Jointly with Mr. R. Y. Patil	980
Zuari Global Limited (Formerly Zuari Industries Limited) Jointly with Mr. Vivekanand Maroor	10
Zuari Global Limited (Formerly Zuari Industries Limited) Jointly with Mr. Srinivas B.S.	5
Zuari Global Limited (Formerly Zuari Industries Limited) Jointly with Ms. Sangeetha Kamath	5
Zuari Global Limited (Formerly Zuari Industries Limited)	46540000
Total	46550000

As on 28.08.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject engaged into infrastructure activity.

Products :

Item Code No. (ITC Code)	Product Description
99721000	Real Estate Services

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Cash, Advance payment and Cheque

Purchasing :

Cash, Advance payment and Cheque

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 :

45 (Approximately).

Bankers :

Banker Name	ICICI Bank
Branch Address	Bangalore, Karnataka, 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

Banker Name	HDFC Bank
Branch Address	Bangalore, Karnataka, 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

Banker Name	Axis bank Limited
Branch Address	Corporate Banking Branch, 1, Shakespeare Sarani, 3^rd Floor, A.C. Market Building, Kolkata – 700071, West Bengal, 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)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Term loans from banks	295.321	100.000
SHORT TERM BORROWINGS
Working capital loans from banks	10.004	0.000
Total	305.325	100.000

Auditors :
Name :	V Sankar Aiyar and Company Chartered Accountants
Address :	202 203, Satyam Cinema Complex, Ranjit Nagar, Community Centre, New Delhi – 110008, India
PAN No.:	AAAFV0781D
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Zuari Global Limited (ZGL) (where control exists)
Fellow Subsidiaries :	Zuari Management Services Limited (ZMSL) Simon India Limited - (SIL) Indian Furniture Products Limited (IFPL) Zuari Investment Limited (ZIL)
Associate Company :	Style Spa Furnitures Limited (SSFL)

CAPITAL STRUCTURE

As on 28.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs.500.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
46550000	Equity Shares	Rs.10/- each	Rs. 465.500 Million

After 28.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
65000000	Equity Shares	Rs.10/- each	Rs.650.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
53550000	Equity Shares	Rs.10/- each	Rs. 535.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	465.500	400.500	0.500
(b) Reserves & Surplus	(79.870)	(88.216)	(37.705)
(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)	385.630	312.284	(37.205)
(3) Non-Current Liabilities
(a) long-term borrowings	295.321	335.000	527.800
(b) Deferred tax liabilities (Net)	19.610	2.682	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)	314.931	337.682	527.800
(4) Current Liabilities
(a) Short term borrowings	10.004	0.000	0.000
(b) Trade payables	33.288	30.925	13.381
(c) Other current liabilities	612.102	527.072	314.961
(d) Short-term provisions	1.941	0.951	0.722
Total Current Liabilities (4)	657.335	558.948	329.064
TOTAL	1357.896	1208.914	819.659
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	15.639	25.477	9.781
(ii) Intangible Assets	1.319	1.449	2.362
(iii) Capital work-in-progress	0.000	0.000	5.518
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.722	0.000	0.000
(d) Long-term Loan and Advances	143.692	71.261	74.783
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	161.372	98.187	92.444
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	815.225	901.414	705.259
(c) Trade receivables	3.767	0.000	0.000
(d) Cash and cash equivalents	92.309	77.273	20.485
(e) Short-term loans and advances	204.089	132.040	1.471
(f) Other current assets	81.134	0.000	0.000
Total Current Assets	1196.524	1110.727	727.215
TOTAL	1357.896	1208.914	819.659

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	770.594	0.000	0.000
	Other Income	19.515	4.257	0.004
	TOTAL (A)	790.109	4.257	0.004
Less	EXPENSES
	Cost of Materials Consumed	0.000	0.000	0.000
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	86.190	(196.155)	(126.304)
	Employees benefits expense	1.502	2.551	1.217
	Other expenses	685.119	243.588	151.928
	TOTAL (B)	772.811	49.984	26.841
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	17.298	(45.727)	(26.837)
Less	FINANCIAL EXPENSES (D)	4.782	0.162	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	12.516	(45.889)	(26.837)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	4.893	4.621	1.447
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	7.623	(50.510)	(28.284)
Less	TAX (H)	(0.723)	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	8.346	(50.510)	(28.284)
	Earnings / (Loss) Per Share (Rs.)	0.20	(1.26)	(565.68)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.08	0.000	0.000
Operating Profit Margin (PBDIT/Sales)	(%)	2.24	0.000	0.000
Return on Total Assets (PBT/Total Assets}	(%)	0.56	(4.18)	(3.47)
Return on Investment (ROI) (PBT/Networth)		0.02	(0.16)	0.76
Debt Equity Ratio (Total Debt/Networth)		0.79	1.07	(14.19)
Current Ratio (Current Asset/Current Liability)		1.82	1.99	2.21

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.500	400.500	465.500
Reserves & Surplus	(37.705)	(88.216)	(79.870)
Net worth	(37.205)	312.284	385.630
long-term borrowings	527.800	335.000	295.321
Short term borrowings	0.000	0.000	10.004
Total borrowings	527.800	335.000	305.325
Debt/Equity ratio	(14.186)	1.073	0.792

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	0.004	4.257	790.109
		1,06,325.000	18,460.230

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	0.004	4.257	790.109
Profit	(28.284)	(50.510)	8.346
	(707100.00%)	(1186.52%)	1.06%

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	Yes
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	Yes
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

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Intercorporate borrowings	0.000	235.000
Total	0.000	235.000

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10521967	27/09/2014 *	1,250,000,000.00	ICICI Bank Limited	Sobha Pearl, No.1, Commissariat Road, Bangalore, Karnataka - 560025, INDIA	C22787931

* Date of charge modification

FIXED ASSETS

• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments
• Other equipments
• Leasehold improvements

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. 62.35
UK Pound	1	Rs. 93.10
Euro	1	Rs. 67.13

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	SUC
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	1
--CREDIT LINES	1~10	3
--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		29

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.