MIRA INFORM REPORT

Report No. :	322628
Report Date :	19.05.2015

IDENTIFICATION DETAILS

Name :	LE PASSAGE TO INDIA TOURS AND TRAVELS PRIVATE LIMITED
Registered Office :	E-29, Hauz Khas, New Delhi – 110016
Tel No.:	91-11-33005555 / 41653100
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.09.2002
Com. Reg. No.:	55-116826
Capital Investment / Paid-up Capital :	Rs.8.131 Million
CIN No.: [Company Identification No.]	U63040DL2002PTC116826
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELL01870B
PAN No.: [Permanent Account No.]	AAACL8370K
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in tour and travel business.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 580000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is well established public company having satisfactory track record. Company has recorded continuous decrease in its profit during last two financial years. However, the rating also takes into consideration the foreign shareholding sufficient liquidity and distribution of dividend. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered 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 – 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

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 DENIED BY

Name :	Mr. Arun Gupta
Designation :	Assistant Manager
Contact No.:	91-120-3300555
Date :	15.05.2015

LOCATIONS

Registered Office / headquarter :	E-29, Hauz Khas, New Delhi – 110016, India
Tel. No.:	91-11-33005555 / 41653100
Fax No.:	91-11-41653101
E-Mail :	suresh@lpti.in arungupta@ipti.in corporate@lepassagetoindia.com hr@lepassagetoindia.com info@lepassagetoindia.com
Website :	http://www.lepassagetoindia.com
Branch Office 1 :	No.15, 1st Floor, Rest House, Cresent Road, Church Street, Bangalore - 560001, Karnataka , India
Tel. No.:	91-80-30913300
Branch Offices :	Also Located At Agra Bangalore Bikaner  Chandigarh  Chennai  Cochin  Goa  Hyderabad  Jaipur  Jaisalmer Jodhpur  Khajuraho  Mumbai Trivandrum  Udaipur  Varanasi
Marketing Office / Overseas Office :	Located At Germany Japan Spain UK

DIRECTORS

As on 26.09.2014

Name :

Mario Habig

Designation :

Managing Director

Address :

Camino Son Rapinya, 94, 2 C, Sa Vileta, Palma De Mallorca, 07013, Spain

Date of Birth/Age :

12.06.1980

Date of Appointment :

03.02.2015

DIN No.:

06980396

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	U63040DL2002PTC116826	LE PASSAGE TO INDIA TOURS AND TRAVELS PRIVATE LIMITED	Managing director	06/02/2015	24/09/2014	-	Active	NO

Name :

Mr. Arjun Sharma

Designation :

Director

Address :

27, Sunder Nagar, New Delhi - 110003, India

Date of Birth/Age :

15.12.1965

Date of Appointment :

01.04.2005

DIN No.:

00003306

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	U55101DL1989PTC037891	SELECT HOLIDAY RESORTS PRIVATE LIMITED	Managing director	06/06/2002	06/06/2002	-	Active	NO
2	U67190DL2005PTC134467	ARMAN CONSULTANTS PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Active	NO
3	U63040DL2005PTC134468	ARMAN HOLIDAYS PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Active	NO
4	U63040DL2002PTC116826	LE PASSAGE TO INDIA TOURS AND TRAVELS PRIVATE LIMITED	Director	03/02/2015	01/04/2005	-	Active	NO
5	U72200DL2005PTC139651	T I INFOTECH PRIVATE LIMITED	Director	12/08/2005	12/08/2005	11/03/2009	Active	NO
6	U74999DL1979PTC009494	SELECT INFRASTRUCTURE PRIVATE LIMITED	Director	13/09/2005	13/09/2005	-	Active	NO
7	U63040DL2003PTC119330	SELECT VACATIONS PRIVATE LIMITED	Director	27/06/2006	11/01/2006	-	Amalgamated	NO
8	U70109DL2006PTC153397	SELECT CITYWALK MALL MANAGEMENT COMPANY PRIVATE LIMITED	Director	09/09/2006	09/09/2006	-	Converted to LLP and dissolved	NO
9	U45201DL2005PTC141007	INDRAMA INFRASTRUCTURE MANAGMENT SERVICES PRIVATE LIMITED	Director	23/09/2006	23/09/2006	-	Active	NO
10	U55101DL1993PTC053889	SELECT EQUITY ADVISORY SERVICES PRIVATE LIMITED	Director	23/09/2006	23/09/2006	-	Active	NO
11	U45201DL2005PTC140998	INDRAMA BUILDWELL PRIVATE LIMITED	Director	23/09/2006	23/09/2006	-	Active	NO
12	U63040DL1993PTC054062	SELECT WORLD TOURS (INDIA) PRIVATE LIMITED	Director	23/09/2006	23/09/2006	17/10/2013	Active	NO
13	U70101DL2006PTC145698	CANYON ESTATES PRIVATE LIMITED	Director	28/09/2006	28/09/2006	-	Active	NO
14	U70101DL2006PTC148871	AMBIKA INFRABUILD PRIVATE LIMITED	Director	15/10/2006	15/10/2006	-	Active	NO
15	U74300DL2008PTC173565	ON PRODUCT PUBLISHING (INDIA) PRIVATE LIMITED	Director	05/02/2008	05/02/2008	-	Converted to LLP and dissolved	NO
16	U74900DL2008PTC180918	INDRAMA BUILDCON PRIVATE LIMITED	Director	15/07/2008	15/07/2008	-	Active	NO
17	U55101DL2008PTC181187	INDRAMA HOTELS PRIVATE LIMITED	Director	22/07/2008	22/07/2008	-	Active	NO
18	U64200DL2008PTC183577	MPW TELETECH PRIVATE LIMITED	Director	22/09/2008	22/09/2008	-	Strike off	NO
19	U74899DL1993PTC053549	ECO ADVENTURES PRIVATE LIMITED	Director	28/09/2009	01/04/2009	-	Active	NO
20	L65910DL1989PLC034812	TOURISM FINANCE CORPORATION OF INDIA LIMITED	Additional director	22/03/2011	22/03/2011	16/05/2011	Active	NO
21	U55101DL2010PTC211816	SAMHI HOTELS PRIVATE LIMITED	Director	28/09/2012	17/01/2012	-	Active	NO
22	U70200DL2012PTC239889	SELECT MANESAR PRIVATE LIMITED	Director	07/08/2012	07/08/2012	-	Active	NO
23	U45200DL2006PTC154865	SSV INFRASTRUCTURE PRIVATE LIMITED	Additional director	14/03/2013	14/03/2013	-	Converted to LLP and dissolved	NO
24	U63000DL2013PTC250193	T.T. Visa Services India Private Limited	Director	03/04/2013	03/04/2013	-	Active	NO
25	U72900DL2014PTC272517	SCW E-COM PRIVATE LIMITED	Director	15/10/2014	15/10/2014	-	Active	NO
26	U55101DL2014PTC273741	VERSATILE FOOD COURTS PRIVATE LIMITED	Director	03/12/2014	03/12/2014	-	Active	NO
27	AAA-0868	ARUNA ENTERPRISES LLP	Designated Partner	04/03/2010	04/03/2010	-	Active	NO
28	AAA-7698	SELECT COUNSELLOR LLP	Designated Partner	20/01/2012	20/01/2012	-	Active	NO
29	AAA-7701	ARJUN INFRAESTATE LLP	Designated Partner	20/01/2012	20/01/2012	-	Active	NO
30	AAB-0421	SELECT MALL MANAGEMENT LLP	Designated Partner	30/07/2012	30/07/2012	-	Active	NO
31	AAB-6606	SELECTED EVENTS & DINING LLP	Designated Partner	22/07/2013	22/07/2013	-	Active	NO
32	AAD-8069	ON PRODUCT PUBLISHING (INDIA) LLP	Designated Partner	22/04/2015	22/04/2015	-	Active	NO

Name :

Mr. David Christopher Schelp

Designation :

Director

Address :

AV Ocells, 9 A, Puig De Ros, Llucmajor, 0000, , Spain

Date of Birth/Age :

20.10.1974

Date of Appointment :

18.06.2009

DIN No.:

02788240

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	U63040DL2002PTC116826	LE PASSAGE TO INDIA TOURS AND TRAVELS PRIVATE LIMITED	Director	23/07/2009	18/06/2009	-	Active	NO

Name :

Mr. Manish Goel

Designation :

Whole Time Director

Address :

W-73, Greater Kailash-1, New Delhi - 110048, India

Date of Birth/Age :

25.06.1969

Date of Appointment :

11.03.2010

DIN No.:

03043592

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	U63040DL2002PTC116826	LE PASSAGE TO INDIA TOURS AND TRAVELS PRIVATE LIMITED	Whole-time director	30/09/2010	11/03/2010	-	Active	NO

Name :

Mr. Philip Andrew Mitchell

Designation :

Director

Address :

146 Athol Street, South Burnley BB 11 4 PA, South Burnley, Na, United Kingdom

Date of Birth/Age :

26.01.1961

Date of Appointment :

04.05.2012

DIN No.:

05260559

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	U63040DL2002PTC116826	LE PASSAGE TO INDIA TOURS AND TRAVELS PRIVATE LIMITED	Director	28/09/2012	04/05/2012	-	Active	NO

Name :

Jeanette Linfoot

Designation :

Director

Address :

104 Shortlands Road, Kingston, Upon Thames, Surrey, KT26HE, British Indian Ocean Territory

Date of Appointment :

20.12.2013

DIN No.:

06765983

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	U63040DL2002PTC116826	LE PASSAGE TO INDIA TOURS AND TRAVELS PRIVATE LIMITED	Director	26/09/2014	20/12/2013	-	Active	NO

Name :

Jorge Cerdo Munar

Designation :

Director

Address :

Calle Alvaro De Bazan No 6 Bajo, Palma De Mallorca, 07014, , Spain

Date of Birth/Age :

12.11.1970

Date of Appointment :

05.03.2014

DIN No.:

06804793

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	U63040DL2002PTC116826	LE PASSAGE TO INDIA TOURS AND TRAVELS PRIVATE LIMITED	Director	26/09/2014	05/03/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Arun Gupta
Designation :	Assistant Manager

MAJOR SHAREHOLDERS

As on 26.09.2014

Names of Shareholders	No. of Shares	% of Holding
Select World Tours (India) Private Limited, India	73182	9.00
Leibniz Service GMBH, Germany	406565	50.00
Destination Services Singapore Pte Limited, Singapore	333382	41.00
Total	813129	100.00

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

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	91.00
Bodies corporate	9.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in tour and travel business.
Products / Services :	--
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	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
Remark :	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
Remark :	Not Divulged

No. of Employees :

Information denied by management

Bankers :

• HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India
• Yes Bank. 9^th floor, Nehru Centre, Discovery of India, Dr. Annie Besent Road, Worli, Mumbai – 400018, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Rupee term loans from banks	1.270	10.568
Rupee term loans from others	14.892	10.351
Total	16.162	20.919

Financial Institution :	Kotak Mahindra Prime Limited, 36-38 A Nariman Bhavan, 227, Nariman Point,, Mumbai - 400021, Maharashtra, India
Auditors :
Name :	Mohinder Puri and Company Chartered Accountants
Address :	1 A D , Vandhna,11 Tolstoy, New Delhi-110001, India
PAN No.:	AAAPW5447K
Memberships :	--
Collaborators :	--
Ultimate Holding Company :	TUI Travel PLC
Subsidiary company	Travel Partner Bulgaria, EOOD TUI Travel (Thomson Holidays / First Choice) Tantur Turizm Seyahat A.S.
Associate :	T.T. Enterprises Private Limited CIN No.: U63011TN1999PTC043795 Berge and Meer Touristik GmbH First Choice Holidays and Flights Limited TUI Suisse AG Fox-Tours Reisen Gmbh Nordic Tour Ge Be Co Verwaltungsgesellschaft mbH Gullivers Sport Travel Limited Hayes and Jarvis Pacific World Singapore Pte Limited Isango Limited Jetair Travcoa Corporation (USA) TUI France SAS Interspecialists S.L.U First Reiseburo Guttler Verwaltungs GmbH TUI Austria Holding GmbH Borublita Holdings Limited Tui Ukraine ( Voyage Kiev) Turtess Travel Aitken Spence Travels Private Limited Travco LLC Meeting & Events Spain SLU Hotelbeds S.L.U. Hotelbeds USA Inc Hotelbeds UK Limited Arman Holidays Private Limited CIN No.: U63040DL2005PTC134468
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	Select Infrastructure Private Limited CIN No.: U74999DL1979PTC009494 Aruna Enterprises Elect Synergies And Services Private Limited CIN No.: U74120DL1970PTC005271 Select Holiday Resorts Private Limited CIN No.: U55101DL1989PTC037891 Leibniz Service GMBH, Germany Le Passage Travel Foundation On Product Publishing (India)Private Limited TUI Deutschland GmbH
Others :	Select World Tours (India) Private Limited CIN No.: U63040DL1993PTC054062

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
813130	Equity Shares	Rs.10/- each	Rs.8.131 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	8.131	8.131	8.131
(b) Reserves & Surplus	196.446	250.256	475.991
(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)	204.577	258.387	484.122
(3) Non-Current Liabilities
(a) long-term borrowings	16.162	20.919	25.213
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	7.818	8.178	3.820
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	23.980	29.097	29.033
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	478.922	504.114	421.181
(c) Other current liabilities	1,120.697	927.339	937.774
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	1,599.619	1,431.453	1,358.955
TOTAL	1,828.176	1,718.937	1,872.110
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	114.255	128.946	127.938
(ii) Intangible Assets	13.493	10.887	10.205
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	30.353	30.353	30.353
(c) Deferred tax assets (net)	11.882	9.841	7.377
(d) Long-term Loan and Advances	99.058	71.181	47.236
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	269.041	251.208	223.109
(2) Current assets
(a) Current investments	220.118	318.221	592.845
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	793.945	826.338	635.982
(d) Cash and cash equivalents	255.778	137.966	153.623
(e) Short-term loans and advances	288.397	182.611	264.776
(f) Other current assets	0.897	2.593	1.775
Total Current Assets	1,559.135	1,467.729	1,649.001
TOTAL	1,828.176	1,718.937	1,872.110

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income from services		1175.036	1074.933	975.999
		Other Income		NA	NA	NA
		TOTAL		NA	NA	NA
	EXPENSES			NA	NA	NA
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION			632.597	169.477	287.731
	PROFIT/(LOSS) BEFORE TAX			40.563	100.479	234.424
Less	TAX			12.559	25.691	80.214
	PROFIT/(LOSS) AFTER TAX			28.004	74.788	154.210
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			143.859	399.646	245.436
Less	APPROPRIATIONS
			Proposed/ *Interim Dividend	69.929	258.575	0.000
			Corporate Dividend Tax	11.885	41.947	0.000
			General Reserve	17.186	30.053	0.000
	BALANCE CARRIED TO THE B/S			72.863	143.859	399.646
	Earnings / (Loss) Per Share (Rs.)			34.44	91.98	189.65

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	20.914	34.404	24.943
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	2.38	6.96	15.80
Operating Profit Margin (PBDIT/Sales)	(%)	53.84	15.77	29.48
Return on Total Assets (PBT/Total Assets}	(%)	2.27	5.99	12.78
Return on Investment (ROI) (PBT/Networth)		0.20	0.39	0.48
Debt Equity Ratio (Total Debt /Networth)		0.18	0.08	0.05
Current Ratio (Current Asset/Current Liability)		0.97	1.03	1.21

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	8.131	8.131	8.131
Reserves & Surplus	475.991	250.256	196.446
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	484.122	258.387	204.577
Long Term borrowings	25.213	20.919	16.162
Short Term borrowings	0.000	0.000	0.000
Current Maturities of Long term debt	24.943	34.404	20.914
Total borrowings	50.156	55.323	37.076
Debt/Equity ratio	0.104	0.214	0.181

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	975.999	1,074.933	1,175.036
		10.137	9.312

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	975.999	1,074.933	1,175.036
Profit	154.210	74.788	28.004
	15.80%	6.96%	2.38%

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	Yes
8	Designation of contact person	Yes
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	No
32	Litigations that the firm/promoter involved in	----------
33	Market information	----------
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

PAN INDIA PRESENCE OF TOUR OPERATIONS BUSINESS

The Tour Operations Business within a short span of time under the brand name TUI India has achieved Pan India presence in Meetings, Incentives, Conferences and events (MICE) as well as in B2B (Distribution) business with presence now in North & West in retail.

Business strengthening during worldwide economic recession

During the year global economic recession set in, however the company dealt well with it resulting an increase in income from service compared to last year but the adverse impact was on EBIDTA because of high cost of indirect expenses.

ACHIEVEMENTS

During the year the Company handled these events successfully as Official Travel agents/Organizer.

Alcon Poa organized by a renowned Pharmaceutical company consisting 323 delegates. National Insulin summit 2013 where around 700 delegates representing a galaxy of entrepreneur participated from all over the world and shared views on the firsthand knowledge and latest development in Insulin. Parvasi Bharti Delegation organized by FICCI where NRIs from across the globe participated having participation of 2200 delegates to discuss the latest developments in their country of residence.

AWARDS WON BY LE PASSAGE TO INDIA

During the year, Le Passage to India has been awarded Best Inbound Tour Operator for six consecutive years (2007 - 2013) "4 times No.1" awarded by Ministry Of Tourism, Govt. Of India Best overseas Tour Operator from Europe (2013) Best Overseas Tour Operator from Latin America (2013)

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10489225	25/02/2014	16,620,000.00	KOTAK MAHINDRA PRIME LIMITED	KOTAK MAHINDRA PRIME LIMITED, 36-38A, NARIMAN BHAVAN, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 40  0021, INDIA	C03554482
2	10423414	27/04/2013	220,000,000.00	INDUSIND BANK LIMITED.	DR. GOPAL DAS BUILDING,, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B74261488
3	10377547	31/08/2012	23,955,000.00	KOTAK MAHINDRA PRIME LIMITED	36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA	B58486879
4	10369703	01/08/2012	13,040,356.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, MAHARASHTRA - 400013, INDIA	B45378247
5	10350444	27/03/2012	18,700,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	B37798865
6	10330293	30/12/2011	910,000.00	KOTAK MAHINDRA PRIME LIMITED	36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA	B30063697
7	10330300	30/12/2011	910,000.00	KOTAK MAHINDRA PRIME LIMITED	36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA	B30065346
8	10330313	30/12/2011	910,000.00	KOTAK MAHINDRA PRIME LIMITED	36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMB  AI, MAHARASHTRA - 400021, INDIA	B30069140
9	10330321	30/12/2011	910,000.00	KOTAK MAHINDRA PRIME LIMITED	36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA	B30070429
10	10330325	30/12/2011	910,000.00	KOTAK MAHINDRA PRIME LIMITED	36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA	B30071450

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.63.58
UK Pound	1	Rs.100.30
Euro	1	Rs.70.38

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KNJ
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	5
--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		42

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.