MIRA INFORM REPORT

Report No. :	355708
Report Date :	23.12.2015

IDENTIFICATION DETAILS

Name :	FUTURE SUPPLY CHAIN SOLUTIONS LIMITED (w.e.f. 23.10.2009)
Formerly known as :	FUTURE LOGISTIC SOLUTIONS LIMITED
Registered Office :	Knowledge House, Shyam Nagar, Jogeshwari- Vikhroli Link Road, Jogeshwari (East), Mumbai – 400060, Maharashtra
Tel. No.:	91-22-39569700
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.03.2006
Com. Reg. No.:	11-160376
Capital Investment / Paid-up Capital :	Rs.391.383 Million
CIN No.: [Company Identification No.]	U63030MH2006PLC160376
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	MUMF04586B
PAN No.: [Permanent Account No.]	AAACF9650N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is engaged in Logistic business. (Registered Activity)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 5743100
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was incorporated in March 2006, is a Future Group company with focus on providing supply chain solutions (for non-agro products) to its group companies as well as to outside companies. The Future Group has a presence in retail, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics. The rating takes into consideration strong financial risk profile of the company marked by adequate networth base and comfortable gearing in FY14. Further the company has reported acceptable sales turnover and profile along with fair profit margin in the year under consideration. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view of aforesaid, the company can be considered for business dealing with 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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

Rating Agency Name	CARE
Rating	Long term bank facilities : BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	15.01.2015

Rating Agency Name	CARE
Rating	Short term bank facilities : A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	15.01.2015

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 31-03-2015.

LOCATIONS

Registered Office :	Knowledge House, Shyam Nagar, Jogeshwari- Vikhroli Link Road, Jogeshwari (East), Mumbai – 400060, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	ROC.info@futuregroup.in customerservice@futuresupplychains.com scm@futuresupplychains.com vendors@futuresupplychains.com careers@futuresupplychains.com solutions@futuresupplychains.com
Website :	http://www.futuresupplychains.com
Head Office :	Bhagat House, 5A Shyam Nagar, Next to Knowledge House, Off Jogeshwari Vikroli Link Road, Jogeshwari (East), Mumbai – 400060, Maharashtra, India
Tel. No.:	91-22-39569700 / 29264500
Fax No.:	91-22-39569701
Branch Office :	Located at Bhiwandi, Maharashtra Kolkata, West Bengal Gurgaon, Haryana Bangalore, Karnataka

DIRECTORS

AS ON 01.07.2014

Name :

Janat Shah

Designation :

Director

Address :

419, IIM Campus, Bannerghatta Road, IIMB Post, Mico Layout, Bangalore - 560076, Karnataka, India

Date of Appointment :

30.09.2015

DIN No.:

01625535

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	U17297TN2003PLC051728	SABARE INTERNATIONAL LIMITED	Director	29/09/2007	21/06/2007	24/08/2010	Active	NO
2	L63011DL1988GOI030915	CONTAINER CORPORATION OF INDIA LIMITED	Director	01/01/2008	01/01/2008	01/01/2011	Active	NO
3	U51909DL2006GOI145734	FRESH & HEALTHY ENTERPRISES LIMITED	Director	02/09/2009	02/09/2009	01/01/2011	Active	NO
4	U74140WB2003PTC096217	GREAT MEDIA TECHNOLOGIES PVT LTD	Director	16/07/2010	16/07/2010	-	Active	NO
5	L72200AP1999PLC033131	PALRED TECHNOLOGIES LIMITED	Director	28/09/2011	12/11/2010	01/10/2013	Active	NO
6	L70102TG2008PLC059173	TCI DEVELOPERS LIMITED	Director	28/07/2011	20/01/2011	04/02/2014	Active	NO
7	L26940OR2011PLC013933	Orient Cement Limited	Director	09/08/2014	30/04/2014	-	Active	NO
8	U63030MH2006PLC160376	Future Supply Chain Solutions Limited	Director	30/09/2015	30/03/2015	-	Active	NO

Name :

Nidhi Shankar

Designation :

Director

Address :

6036, 1st Floor, Sector C, Pocket 6 & 7, Vasant Kunj, Delhi, New Delhi - 110070, India

Date of Appointment :

30.09.2015

DIN No.:

06685955

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	U51900DL2008PTC176083	GREEN LINEN PRIVATE LIMITED	Director	30/09/2013	11/09/2013	-	Active	NO
2	U63030MH2006PLC160376	Future Supply Chain Solutions Limited	Director	30/09/2015	30/03/2015	-	Active	NO

Name :

Chandra Prakash Toshniwal

Designation :

Director

Address :

A-407/408, A-Wing, Oberoi Splendor, Jogeshwari Vikhroli Link Road, Andheri (East), Mumbai - 400060, Maharashtra, India

Date of Birth/Age :

29.09.1966

Date of Appointment :

08.03.2006

DIN No.:

00036303

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	U72100MH1999PLC120600	PRTL ENTERPRISES LIMITED	Director	22/08/2000	22/08/2000	02/08/2008	Active	NO
2	U55101MH2005PLC151089	PAN INDIA RESTAURANTS LIMITED	Director	07/02/2005	07/02/2005	-	Amalgamated	NO
3	U74995MH2005PLC151073	IDIOM DESIGN AND CONSULTING LIMITED	Director	07/02/2005	07/02/2005	30/03/2008	Active	NO
4	U70100MH2005PTC153677	Anchor Residency Private Limited	Director	01/06/2005	01/06/2005	-	Amalgamated	NO
5	U70101MH2005PTC153688	NAMAN MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	02/06/2005	02/06/2005	01/09/2010	Active	NO
6	U45200GJ2005PTC046351	GULMOHAR PARK MALL PRIVATE LIMITED	Director	11/07/2005	11/07/2005	01/09/2010	Active	NO
7	U70100MH2005PTC155104	UNIQUE MALLS PRIVATE LIMITED	Director	03/08/2005	03/08/2005	27/06/2012	Active	NO
8	U70100MH2005PTC155102	SRISHTI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	03/08/2005	03/08/2005	27/02/2012	Active	NO
9	U70100MH2005PTC155196	BLB MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	08/08/2005	08/08/2005	15/04/2009	Active	NO
10	U45200MH2005PTC156839	AVRUTI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	18/10/2005	18/10/2005	01/09/2010	Active	NO
11	U45200MH2005PTC156837	SUHANI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	18/10/2005	18/10/2005	18/02/2013	Active	NO
12	U70100MH2005PTC156868	ANUSHTA MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	19/10/2005	19/10/2005	01/09/2010	Active	NO
13	U70100MH2005PTC156886	SHAGUN MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	20/10/2005	20/10/2005	14/06/2007	Active	NO
14	U70100MH2005PTC156869	BANSI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	19/11/2005	19/11/2005	27/02/2012	Active	NO
15	U51909MH1994PTC156437	MANZ RETAIL PRIVATE LIMITED (TRF.)	Director	27/12/2005	27/12/2005	27/02/2012	Active	NO
16	U51900MH2006PLC159197	FUTUREBAZAAR INDIA LIMITED	Director	23/01/2006	23/01/2006	27/02/2008	Active	NO
17	U65900MH2006PLC159526	FUTURE IDEAS COMPANY LIMITED	Director	06/02/2006	06/02/2006	27/02/2008	Active	NO
18	U52110MH2006PLC159581	Future Axiom Telecom Limited	Director	07/02/2006	07/02/2006	-	Under liquidation	NO
19	U15100MH2005PLC152599	Future Agrovet Limited	Director	29/09/2006	10/02/2006	-	Active	NO
20	U52190MH2006PLC160377	GJ Freedom Fashions Limited	Director	08/03/2006	08/03/2006	30/01/2008	Active	NO
21	U63030MH2006PLC160376	Future Supply Chain Solutions Limited	Director	08/03/2006	08/03/2006	-	Active	NO
22	U74300MH2006PLC160375	Future Media (India) Limited	Director	18/09/2008	08/03/2006	-	Active	NO
23	U52190MH2006PTC160415	MYRA MALL MANAGEMENT COMPANY Private Limited	Director	16/03/2006	16/03/2006	03/07/2007	Active	NO
24	U51909MH2005PTC151869	SPRINT ADVISORY SERVICES PRIVATE LIMITED	Director	31/08/2006	21/03/2006	-	Active	NO
25	U55209MH2006PTC161530	Pan India Food Solutions Private Limited	Director	01/05/2006	01/05/2006	18/06/2009	Active	NO
26	U45200MH2005PTC157267	SHENDRA ADVISORY SERVICES PRIVATE LIMITED	Director	29/09/2006	19/05/2006	-	Active	NO
27	U18101MH2006PLC223534	LEE COOPER (INDIA) LIMITED	Director	29/08/2006	29/08/2006	30/12/2008	Amalgamated	NO
28	U45200GJ2006PTC048776	RATNABHUMI DEVELOPERS PRIVATE LIMITED	Director	25/09/2006	25/09/2006	24/04/2009	Active	NO
29	U70109WB1998PTC087521	SUN CITY PROPERTIES PRIVATE LIMITED	Director	03/10/2006	03/10/2006	-	Active	NO
30	U66030MH2006PLC165287	Future Generali India Insurance Company Limited	Director	30/10/2006	30/10/2006	16/03/2007	Active	NO
31	U66010MH2006PLC165288	Future Generali India Life Insurance Company Limited	Director	30/10/2006	30/10/2006	16/03/2007	Active	NO
32	U93090MH2006PTC165612	Airport Retail Private Limited	Director	17/11/2006	17/11/2006	17/11/2008	Active	NO
33	U74999MH2006PLC165722	Future Brands Limited	Director	22/11/2006	22/11/2006	-	Active	NO
34	U74999MH2007PLC166866	STAPLES FUTURE OFFICE PRODUCTS LIMITED	Director	09/01/2007	09/01/2007	05/11/2008	Active	NO
35	U74999MH2007PLC167122	FUTURE KNOWLEDGE SERVICES LIMITED	Director	18/01/2007	18/01/2007	30/03/2015	Active	NO
36	U51909MH2006PTC164092	Edmon Trading Private Limited	Director	23/01/2007	23/01/2007	01/10/2009	Active	NO
37	U52399MH2007PLC171178	FUTURE E-COMMERCE INFRASTRUCTURE LIMITED	Director	25/05/2007	25/05/2007	-	Active	NO
38	U52100MH2007PLC171524	Future Value Retail Limited.	Director	11/06/2007	11/06/2007	-	Amalgamated	NO
39	U51900MH2007PLC171946	FUTURE MOBILE AND ACCESSORIES LIMITED	Director	23/06/2007	23/06/2007	27/02/2008	Active	NO
40	U70102MH2006PTC161886	Shreya Mall Management Private Limited	Director	31/10/2007	05/07/2007	-	Active	NO
41	U74999MH2007PLC173727	Mobile Repair Service City India Limited	Director	01/09/2007	01/09/2007	30/03/2008	Active	NO
42	U51900MH2007PLC174027	FUTURE CONSUMER PRODUCTS LIMITED	Director	11/09/2007	11/09/2007	31/03/2015	Active	NO
43	U17291MH2007GOI195397	APOLLO DESIGN APPAREL PARKS LIMITED	Additional director	18/05/2015	22/12/2007	-	Active	NO
44	U51909MH2006PTC164209	Central Departmental Stores Private Limited	Director	31/01/2008	31/01/2008	22/10/2014	Active	NO
45	U45201MH2008PLC179913	Agre Properties & Services Limited	Director	10/03/2008	10/03/2008	09/01/2009	Amalgamated	NO
46	U15410MH2008PLC179919	FUTURE FOOD AND PRODUCTS LIMITED	Director	10/03/2008	10/03/2008	09/01/2009	Active	NO
47	L45400MH2008PLC179914	Future Market Networks Limited	Director	10/03/2008	10/03/2008	09/01/2009	Active	NO
48	U22300MH2008PLC181041	Future Outdoor Media Solutions Limited	Director	10/04/2008	10/04/2008	22/03/2013	Active	NO
49	U74999MH2008PLC181051	Future Learning and Development Limited	Director	10/04/2008	10/04/2008	30/03/2015	Active	NO
50	U93000MH2008PTC179580	Harsh Trading & Investment Consultants Private Limited	Director	11/04/2008	11/04/2008	04/08/2011	Active	NO
51	U55100MH2000PTC128686	BLUE FOODS PRIVATE LIMITED	Additional director	21/04/2008	21/04/2008	22/04/2008	Active	NO
52	U51109TN2006PTC100445	KAMASKHYA TRACOM PVT LTD	Nominee director	07/07/2008	07/07/2008	16/09/2010	Active	NO
53	U51100MH2005PLC156856	FUTURE CORPORATE RESOURCES LIMITED	Director	09/08/2011	08/08/2011	31/03/2015	Active	NO
54	U45400WB2012PTC173445	CIRCULAR DEVELOPERS PRIVATE LIMITED	Director	24/02/2012	24/02/2012	09/03/2012	Active	NO
55	U74999MH2010PLC203778	nuFuture Haribhakti Business Services Limited.	Director	29/09/2012	03/08/2012	-	Active	NO
56	L52100MH2012PLC231654	FUTURE LIFESTYLE FASHIONS LIMITED	Whole-time director	01/11/2013	02/03/2013	-	Active	NO
57	U74900MH2007PLC167121	Future Human Development Limited	Director	30/09/2013	25/03/2013	30/09/2015	Active	NO
58	U74120MH2015PLC269824	Future Digital Payment Systems Limited	Director	03/11/2015	03/11/2015	-	Active	NO
59	AAA-4360	SSA ADVISORS LLP	Designated Partner	04/04/2011	04/04/2011	-	Active	NO

Name :

Rakesh Biyani

Designation :

Director

Address :

Flat No 1903,19th Floor, B Wing, Vivarea Building, Sane Guruji Marg, Jacob Circle, Mumbai - 400011, Maharashtra, India

Date of Birth/Age :

05.04.1972

Date of Appointment :

30.11.2007

DIN No.:

00005806

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	L52399MH1987PLC044954	Future Retail Limited	Managing director	10/11/2011	27/07/1992	-	Active	NO
2	U51311RJ2002PTC017552	SUPREME TRADELINKS PRIVATE LIMITED	Director	03/03/2005	03/03/2005	31/03/2009	Active	NO
3	U70100MH2005PTC151972	ACUTE REALTY PRIVATE LIMITED	Director	15/03/2005	15/03/2005	18/06/2012	Active	NO
4	U52190MH2006PLC160377	GJ Freedom Fashions Limited	Director	08/03/2006	08/03/2006	30/01/2008	Active	NO
5	U74999MH2007PLC166866	STAPLES FUTURE OFFICE PRODUCTS LIMITED	Director	09/01/2007	09/01/2007	01/08/2007	Active	NO
6	U63030MH2006PLC160376	Future Supply Chain Solutions Limited	Director	30/11/2007	13/07/2007	-	Active	NO
7	U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	Director	22/12/2008	22/12/2007	26/12/2013	Active	NO
8	U74999MH2007PLC167122	FUTURE KNOWLEDGE SERVICES LIMITED	Director	30/09/2008	31/01/2008	30/03/2015	Active	NO
9	U85110MH1998PLC226134	INDUS-LEAGUE CLOTHING LIMITED	Director	04/09/2008	23/04/2008	-	Active	NO
10	U74994MH2008PTC181891	Celio Future Fashion Private Limited	Director	05/05/2008	05/05/2008	-	Active	NO
11	U52110MH2006PLC159581	Future Axiom Telecom Limited	Director	30/09/2008	15/05/2008	-	Under liquidation	NO
12	U17219WB1992PLC056339	TURTLE LIMITED	Director	05/08/2009	01/12/2008	-	Active	NO
13	U51900MH2006PLC159197	FUTUREBAZAAR INDIA LIMITED	Director	30/09/2010	21/10/2009	-	Active	NO
14	U52399MH2007PLC171178	FUTURE E-COMMERCE INFRASTRUCTURE LIMITED	Director	30/09/2010	24/12/2009	20/10/2010	Active	NO
15	U51909MH2010PTC207216	UCCHAL TRADERS PRIVATE LIMITED	Director	22/08/2011	14/09/2010	04/09/2015	Active	NO
16	U51109MH2010PTC207247	RADHA MULTITRADING PRIVATE LIMITED	Director	22/08/2011	14/09/2010	-	Converted to LLP and dissolved	NO
17	U51109MH2010PTC207312	SAACHI MULTITRADING PRIVATE LIMITED	Director	22/08/2011	14/09/2010	-	Converted to LLP and dissolved	NO
18	U19200DL2010PTC206824	Clarks Future Footwear Private Limited	Director	05/08/2011	29/09/2010	-	Active	NO
19	U93000MH2011PTC218630	Indian Football Coaching Private Limited	Director	14/06/2011	14/06/2011	-	Active	NO
20	U85191MH2011NPL222989	Retailers Association's Skill Council of India	Director	13/10/2011	13/10/2011	-	Active	NO
21	U52100MH2007PLC171524	Future Value Retail Limited.	Director	21/03/2013	10/02/2012	-	Amalgamated	NO
22	U72900MH2007PLC174787	nuFuture Digital (India) Limited	Director	29/09/2012	27/03/2012	27/07/2015	Active	NO
23	U93090MH2012PTC234400	Pluggers Sports Lifestyle Private Limited	Director	13/08/2012	13/08/2012	01/02/2013	Active	NO
24	U70102MH2007PTC173944	Shree Balaji Parvat View Properties Private Limited	Director	29/09/2014	15/03/2013	-	Active	NO
25	U70102MH2007PTC173373	Shree Balaji Umber Properties Private Limited	Director	29/09/2014	15/03/2013	-	Active	NO
26	L52100MH2012PLC231654	FUTURE LIFESTYLE FASHIONS LIMITED	Director	08/08/2014	10/06/2013	-	Active	NO
27	AAA-6346	SAACHI MULTITRADING LLP	Designated Partner	23/09/2011	23/09/2011	-	Active	NO
28	AAA-6387	RADHA MULTITRADING LLP	Designated Partner	27/09/2011	27/09/2011	-	Active	NO
29	AAA-6891	BIYANI CAPITAL RESOURCES LLP	Designated Partner	15/11/2011	15/11/2011	-	Active	NO
30	AAA-6892	GSR CAPITAL RESOURCES LLP	Designated Partner	15/11/2011	15/11/2011	-	Active	NO

Name :

Vivek Biyani

Designation :

Director

Address :

304 Jeevan Vihar, Maanav Mandir Road, Malabhar Hill, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

26.04.1985

Date of Appointment :

29.09.2008

DIN No.:

01977838

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	U52330MH2004PTC148956	HSR Wholesale & Retail Private Limited	Director	01/09/2010	28/01/2008	10/06/2011	Active	NO
2	U51900MH2007PLC174027	FUTURE CONSUMER PRODUCTS LIMITED	Director	10/09/2008	31/01/2008	31/03/2015	Active	NO
3	U70200MH2007PTC170246	VISHNU MALL MANAGEMENT PRIVATE LIMITED	Director	23/10/2008	31/01/2008	-	Amalgamated	NO
4	U45200MH2007PTC168069	Festive Realty Private Limited	Director	21/08/2008	31/01/2008	21/09/2012	Active	NO
5	U45200MH2007PTC168052	VAYUPUTRA REALTY PRIVATE LIMITED	Director	30/09/2015	31/01/2008	-	Active	NO
6	U70200MH2007PTC168047	MAHABAL REALTY PRIVATE LIMITED	Director	23/09/2011	31/01/2008	-	Active	NO
7	U70102MH2007PTC167996	KESARI REALTY PRIVATE LIMITED	Director	19/08/2008	31/01/2008	-	Active	NO
8	U93090MH2007PTC168048	Holii Accessories Private Limited	Director	21/08/2008	31/01/2008	30/04/2009	Active	NO
9	U45200MH2007PTC168000	KUBER MALL MANAGEMENT PRIVATE LIMITED	Director	19/08/2008	31/01/2008	-	Active	NO
10	U74999MH2007PTC167999	Aman Syntex Private Limited	Director	19/08/2008	31/01/2008	27/02/2010	Active	NO
11	U74999MH2007PLC167122	FUTURE KNOWLEDGE SERVICES LIMITED	Director	30/09/2008	31/01/2008	-	Active	NO
12	U70102MH2006PTC161885	Harmony Malls Management Private Limited	Director	30/09/2008	31/01/2008	-	Active	NO
13	U70102MH2006PTC161883	Ishbhoomi Mall Management Private Limited	Director	30/09/2008	31/01/2008	25/05/2011	Active	NO
14	U70102MH2006PTC161884	Riddhi Siddhi Mall Management Private Limited	Director	30/09/2008	31/01/2008	04/06/2012	Active	NO
15	U70100MH2005PTC156869	BANSI MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	30/09/2008	01/03/2008	01/07/2009	Active	NO
16	U70100MH2005PTC155104	UNIQUE MALLS PRIVATE LIMITED	Director	30/09/2008	15/03/2008	27/06/2012	Active	NO
17	U70100MH2005PTC153677	Anchor Residency Private Limited	Director	30/09/2008	15/03/2008	-	Amalgamated	NO
18	U70100MH2005PTC151972	ACUTE REALTY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	03/07/2012	Active	NO
19	U70100MH2004PTC148033	NISHTA MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	30/08/2012	Active	NO
20	U70100MH2004PTC148032	BARTRAYA MALL DEVELOPMENT COMPANY PRIVATE LIMITED	Director	30/09/2008	15/03/2008	-	Active	NO
21	U45200MH2004PLC146312	KB MALL MANAGEMENT COMPANY LIMITED	Director	30/09/2008	15/03/2008	-	Amalgamated	NO
22	U70102MH2006PTC161887	Ojas Mall Management Private Limited	Director	30/09/2008	31/03/2008	30/08/2012	Active	NO
23	U17100MH2004PTC143809	DHANSHREE FASHIONS PRIVATE LIMITED	Director	30/09/2010	21/05/2008	-	Active	NO
24	U74900MH2008PLC179447	Future Coupons Limited	Director	20/08/2009	26/05/2008	-	Active	NO
25	U63030MH2006PLC160376	Future Supply Chain Solutions Limited	Director	29/09/2008	01/06/2008	-	Active	NO
26	U52599MH2007PLC166906	Retail Light Techniques India Limited	Director	26/07/2008	25/06/2008	-	Active	NO
27	U52100MH2007PTC167268	Pairs Retail India Private Limited	Director	26/07/2008	25/06/2008	04/01/2010	Active	NO
28	U51109TN2006PTC100445	KAMASKHYA TRACOM PVT LTD	Nominee director	07/07/2008	07/07/2008	16/09/2010	Active	NO
29	U52399MH2007PLC171178	FUTURE E-COMMERCE INFRASTRUCTURE LIMITED	Director	26/09/2011	20/10/2010	-	Active	NO
30	U52100MH2007PLC171524	Future Value Retail Limited.	Director	23/09/2011	06/01/2011	-	Amalgamated	NO
31	U74900MH1996PLC097943	Future Corporate Resources Limited	Whole-time director	10/02/2011	10/02/2011	-	Amalgamated	NO
32	U51100MH2005PLC156856	FUTURE CORPORATE RESOURCES LIMITED	Whole-time director	21/07/2014	21/07/2011	-	Active	NO
33	U55101MH2007PTC172953	Future Hospitality Private Limited	Director	29/09/2011	29/09/2011	-	Active	NO
34	U70100MH2005PTC156874	UTSAV MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	13/03/2012	13/03/2012	-	Active	NO
35	U72900MH2007PLC174787	nuFuture Digital (India) Limited	Director	29/09/2012	27/03/2012	17/08/2015	Active	NO
36	U74999MH2011PTC222911	Nimbi Jodha Trading & Finvest Private Limited	Additional director	10/06/2013	10/06/2013	-	Active	NO
37	U74999MH2007PLC166866	STAPLES FUTURE OFFICE PRODUCTS LIMITED	Director	29/11/2013	19/08/2013	-	Active	NO
38	U74140MH2007PTC175600	Tirumal Trading and Investment Consultants Private Limited	Director	30/09/2014	31/03/2014	-	Amalgamated	NO
39	U45200MH2010PTC210290	ARLETTE INFRASTRUCTURE PRIVATE LIMITED	Director	30/09/2014	15/05/2014	-	Amalgamated	NO
40	U74120MH2015PLC269824	Future Digital Payment Systems Limited	Director	03/11/2015	03/11/2015	-	Active	NO

Name :

Anshuman Krishnapal Singh

Designation :

Director

Address :

A-203, Naperol Towers, R.A.Kidwai Marg, Wadala (West), Mumbai - 400031, Maharashtra, India

Date of Birth/Age :

03.05.1969

Date of Appointment :

29.09.2008

DIN No.:

00012225

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	U51909MH2005PLC174301	FASHION GLOBAL RETAIL LIMITED	Director	30/09/2009	19/12/2006	-	Amalgamated	NO
2	U63030MH2006PLC160376	Future Supply Chain Solutions Limited	Director	29/09/2008	01/06/2008	-	Active	NO
3	U51109MH2008PLC189032	FSC Brand Distribution Services Limited	Director	19/12/2008	19/12/2008	-	Amalgamated	NO

Name :

Rajesh Vardichand Ranavat

Designation :

Director

Address :

Fl-401, 0000fp-259, Sn-128 Fp-1+2a, Queens Court, Boat Club Rd, Pune - 411001, Maharashtra, India

Date of Birth/Age :

31.10.1959

Date of Appointment :

30.09.2010

DIN No.:

02157122

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	U74140DL2008FTC179245	LF (1937) MANAGEMENT INDIA PRIVATE LIMITED	Director	09/06/2008	09/06/2008	31/07/2009	Active	NO
2	U63030MH2006PLC160376	Future Supply Chain Solutions Limited	Director	30/09/2010	28/08/2009	-	Active	NO
3	U70102KA2007PLC044240	SATTVA REALTORS Limited	Nominee director	19/03/2012	19/03/2012	-	Active	NO
4	U45400MH2011PTC224924	FUTURE TRADE MARKETS PRIVATE LIMITED	Nominee director	20/08/2012	19/03/2012	-	Active	NO

KEY EXECUTIVES

Name :	Kailash Chand Sharma
Designation :	Vhief Financial Officer
Address :	B-62, Punarvasu Apartment, Sector Iii,, Shrishti, Mira Road East, Thane - 401104, Maharashtra, India
PAN No.:	AAYPS6130P
Date of Appointment :	01.04.2014
Name :	Vimalkumar K Dhruve
Designation :	Secretary
Address :	EC-116, Flat No.301, Evershine City, Vasai (East), Thane - 401208, Maharashtra, India
Date of Birth/Age :	03.08.1975
PAN No.:	AGJPD3391E
Date of Appointment :	30.03.2010

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 01.07.2014

Names of Shareholders	No. of Shares
Future Retail Limited, India	27,462,956
Future Retail Limited, India / Kishore Biyani	1
Future Retail Limited, India / C P Toshniwal	1
Future Retail Limited, India / Vimal Dhruve	1
Future Retail Limited, India Jointly with Sanjay Rathi	1
Future Retail Limited, India jointly with Rajesh Kalyani	1
Future Retail Limited, India jointly with Subodh More	1
Future Corporate Resources Limited, India	500,000
Anshuman Singh/ Nidhi Singh	1,000,000
SKC 1 Limited, Mauritius C/o. Abax Corporate Services Limited	10,175,321
Total	39,138,283

Equity Share Break up (Percentage of Total Equity)

AS ON 01.07.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	26.00
Bodies corporate	71.44
Directors or relatives of Directors	2.56
Total	100.00

BUSINESS DETAILS

Line of Business :	The Company is engaged in Logistic business. (Registered Activity)
Products :	Logistic Business
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

Bank Name	State Bank of India
Branch	SBI Bhuvan, Nariman Point, Mumbai - 400021, Maharashtra, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Abu Dhabi Commercial Bank, 75 B Rehmat Manzil, Veer Nariman Road, Churchgate, Mumbai - 400020, Maharashtra, India

ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from banks	248.619	328.800
Short-term borrowings
Working capital loans from banks	382.634	317.552
Total	631.253	646.352

Auditors :
Name :	NGS and Company LLP Chartered Accountants
Address :	B-46, Pravasi Industrial Estate, Vishweswar Nagar Road, Goregaon (East), Mumbai-400063, Maharashtra, India
PAN No.:	AABFS3313D
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Future Retail Limited [Formerly known as Pantaloon Retail (India) Limited] [L52399MH1987PLC044954]
Subsidiary Company:	FSC Brand Distribution Services Limited [U51109MH2008PLC189032]
Fellow Subsidiaries :	Future E-Commerce Infrastructure Limited [U52399MH2007PLC171178] Staples Future Office Products Private Limited [U74999MH2007PLC166866] Future Value Retail Limited.(Up to 10 th Feb -14) [U52100MH2007PLC171524] Future Lifestyle Fashions Limited. (up to 24 th June 13) [U51909MH2010PLC201760]
Enterprise having significant influence over the reporting entity :	SKC 1 Limited

CAPITAL STRUCTURE

As on 01.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
40,000,000	Equity Shares	Rs.10/- each	Rs.400.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
39,138,283	Equity Shares	Rs.10/- each	Rs.391.383 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	391.383	391.383	391.383
(b) Reserves & Surplus	1618.697	1576.421	1618.184
(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)	2010.080	1967.804	2009.567
(3) Non-Current Liabilities
(a) long-term borrowings	248.619	328.800	435.300
(b) Deferred tax liabilities (Net)	16.760	10.494	0.000
(c) Other long term liabilities	14.025	11.066	5.117
(d) long-term provisions	13.693	11.815	11.144
Total Non-current Liabilities (3)	293.097	362.175	451.561
(4) Current Liabilities
(a) Short term borrowings	382.634	317.552	2.728
(b) Trade payables	697.432	727.053	566.236
(c) Other current liabilities	191.029	300.712	261.254
(d) Short-term provisions	2.433	2.164	0.586
Total Current Liabilities (4)	1273.528	1347.481	830.804
TOTAL	3576.705	3677.460	3291.932
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1396.943	1630.557	1459.777
(ii) Intangible Assets	41.262	58.281	73.901
(iii) Capital work-in-progress	89.268	12.527	12.851
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.500	0.000	0.500
(c) Deferred tax assets (net)	0.000	0.000	6.580
(d) Long-term Loan and Advances	276.466	252.372	296.483
(e) Other Non-current assets	0.000	0.100	0.000
Total Non-Current Assets	1804.439	1953.837	1850.092
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	1460.026	1647.420	1324.406
(d) Cash and cash equivalents	24.164	32.772	29.249
(e) Short-term loans and advances	204.771	43.393	88.176
(f) Other current assets	83.305	0.038	0.009
Total Current Assets	1772.266	1723.623	1441.840
TOTAL	3576.705	3677.460	3291.932

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	3301.597	3535.626	3447.642
	Other Income	30.369	5.030	33.815
	TOTAL	3331.966	3540.656	3481.457
Less	EXPENSES
	Cost of Materials Consumed	2221.578	2471.000	2443.768
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	0.000	0.000
	Exceptional Items	20.278	28.000	0.000
	Employees benefits expense	441.089	453.423	427.845
	Other expenses	359.091	371.195	344.548
	TOTAL	3042.036	3323.618	3216.161
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	289.930	217.038	265.296
Less	FINANCIAL EXPENSES	108.998	103.048	102.591
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	180.932	113.990	162.705
Less/ Add	DEPRECIATION/ AMORTISATION	132.390	138.679	153.656
	PROFIT/ (LOSS) BEFORE TAX	48.542	(24.689)	9.049
Less	TAX	6.266	17.074	3.258
	PROFIT/ (LOSS) AFTER TAX	42.276	(41.763)	5.791
	EARNINGS IN FOREIGN CURRENCY	NIL	NIL	NIL
	TOTAL IMPORTS	0.000	7.539	37.812
	Earnings / (Loss) Per Share (Rs.)	1.08	(1.07)	0.16

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current maturities of long-term debt	83.315	125.228	98.128
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	210.522	527.739	(246.216)
Net cash flows from (used in) operating activities	177.495	505.231	(260.099)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.28	(1.18)	0.17
Operating Profit Margin (PBIDT/Sales)	(%)	8.78	6.14	7.69
Return on Total Assets (PBT/Total Assets}	(%)	1.39	(0.67)	0.28
Return on Investment (ROI) (PBT/Networth)		0.02	(0.01)	0.00
Debt Equity Ratio (Total Debt /Networth)		0.36	0.39	0.27
Current Ratio (Current Asset/Current Liability)		1.39	1.28	1.74

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	391.383	391.383	391.383
Reserves & Surplus	1618.184	1576.421	1618.697
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2009.567	1967.804	2010.080
long-term borrowings	435.300	328.800	248.619
Short term borrowings	2.728	317.552	382.634
Current maturities of long-term debt	98.128	125.228	83.315
Total borrowings	536.156	771.580	714.568
Debt/Equity ratio	0.267	0.392	0.355

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	3447.642	3535.626	3301.597
		2.552	(6.619)

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	3447.642	3535.626	3301.597
Profit	5.791	(41.763)	42.276
	0.17%	(1.18%)	1.28%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	----
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	---
33	Market information	---
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10379434	28/09/2012	200,000,000.00	ING VYSYA BANK LIMITED	MITTAL TOWERS,A-WING,, GROUND FLOOR,210 NARIMAN P  OINT,, MUMBAI, MAHARASHTRA - 400021, INDIA	B59266908
2	10272420	17/02/2011	450,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ  ARAT - 390015, INDIA	B06513741
3	10111479	26/10/2010 *	200,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, N G N VAIDYA MARG,, HORNIMAN C  IRCLE, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA	A99984858

* Date of charge modification

SEGMENT

The Company is engaged only in Logistic business in India and there are no separate reportable business and geographical Segments

FINANCIAL AND OPERATIONAL OVERVIEW

The year offered many opportunities and brought many challenges from operation point of view. Despite difficult time, the Company posted satisfactory performance for the year ended 31 st March 2014.

REVENUES

During the year, the Company recorded a total turnover of Rs.3332.000 Million as against Rs.3540.600 Million during the previous fiscal. The revenue were decreased due to competitive pricing for the warehousing and logistic services due to consolidation of all product categories, replacement strategies adopted by the Company and focused loading. Revenues from external customers outside the Group increased considerably due to untiring and determined efforts made by the management to add the clientele from various industries like automobile, FMCG, Foods etc.

PROFITS

For the year, the Company posted net profits of Rs.42.300 Million as against net loss of Rs.41.800 Million during the previous fiscal due to stable margins in a few business verticals, effective cost management, process integration and transport integration.

CLIENTELE

During the year, the Company successfully added many new clients from various industries which signify a combination of business expertise and finest infrastructure and the core values of the Company. The management believes that such contracts are not only the commercial success, but will also open up new avenues and vistas which are mutually beneficial in the long run. The customers, on their part, have also shown tremendous confidence in world-class modern supply chain capabilities of the Company.

EXPANSION AND FUTURE PLANS

The Company would be implementing various strategies for capacity building for higher revenues, reduced costs of operations by though effective cost control mechanism and aggressive business development plans. The Company is strategising for asset investments in phased manner which would ensure best utilization of existing servicing levels and simultaneously focuses on scope for any addition therein. The Company is also aiming to build the automation for better and efficient servicing. With greater expectations on revival of economic conditions and business outlook across the sectors, the Directors anticipates that growth would further pick-up in current fiscal.

FIXED ASSETS:

Tangible Assets

• Leasehold improvements
• Plant and Machinery
• Electrical Installation
• Computers
• Furniture and Fixtures
• Office Equipments

Intangible Assets

• Software
• Exclusive Business Rights

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.66.29
UK Pound	1	Rs.98.71
Euro	1	Rs.72.33

INFORMATION DETAILS

Analysis Done by :	KIN
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

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

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.