MIRA INFORM REPORT

Report Date :

01.12.2007

IDENTIFICATION DETAILS

Name :	RADIANT ELECTRICALS PRIVATE LIMITED

Registered Office :	7/1, Lane No. 7, Anand Parbat Industrial Area, New Delhi – 110 005

Country :	India

Financials (as on) :	31.03.2006

Date of Incorporation :	10.06.1992

Com. Reg. No.:	49109

CIN No.: [Company Identification No.]	U00000DL1992PTC049109

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Dealers of Electrical Equipments.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Small Company

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a small company having moderate track. Its payments are unknown. It can be considered for any business dealings on safe and secured trade terms and conditions.

LOCATIONS

Registered Office :	7/1, Lane No. 7, Anand Parbat Industrial Area, New Delhi – 110 005, India
Tel. No.:	91-98110-41314 / 93110-41314 / 93110-41315
E-Mail :	anujgoyal_1069@yahoo.co.in radiantelectricals@yahoo.com vimalfca@yahoo.com
Website :	http://www.radiantelectricals.com

DIRECTORS

Name :	Mrs. Saroj Bhandari
Designation :	Director
Address :	B -608, Sector – 9, Kedar Apartments Rohini, Delhi – 110 085, India
Date of Birth/Age :	05.03.1962
Date of Appointment :	10.06.1992

Name :	Mr. Deepak Bhandari
Designation :	Director
Address :	B -608, Sector – 9, Kedar Apartments Rohini, Delhi – 110 085, India
Date of Birth/Age :	06.04.1952
Date of Appointment :	10.06.1992

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders		No. of Shares
Mr. Deepak Bhandari		480
Mrs. Saroj Bhandari		510
Mr. pramod Bhandari		10
	Total	1000

Equity Shares Breakup (Percentage of Total Equity):

Sr No.	Category	Percentage
1	Directors or relative of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Dealers of Electrical Equipments.

GENERAL INFORMATION

No. of Employees :	2

Bankers :	NA

Banking Relations :	Unknown

Auditors :
Name :	Vimal Chhabra and Company Chartered Accountants
Address :	8C/6, W E A Abdul Aziz Marg, Karol BAGH, New Delhi – 110 005, India

Group Companies :	· Electrical Sales Corporation · Electrical Systems and Controls · Radiant Electricals Private Limited · Radiant Infosys Private Limited · Institute of Industrial Automation

Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity shares	Rs. 100/- each	Rs. 1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value		Amount
1000	Equity shares	Rs. 100/- each	Rs. 0.100 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		[0.107]	[0.099]
NETWORTH		[0.007]	0.001
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.107	0.082
TOTAL BORROWING		0.107	0.082
DEFERRED TAX LIABILITIES		0.000	0.000

TOTAL		0.100	0.083

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		0.000	0.000
Capital work-in-progress		0.000	0.000

INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories
	Sundry Debtors	0.113	0.113
	Cash & Bank Balances
	Other Current Assets
	Loans & Advances
Total Current Assets		0.113	0.113
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.013	0.030
	Provisions
Total Current Liabilities		0.013	0.030
Net Current Assets		0.100	0.083

MISCELLANEOUS EXPENSES		0.000	0.000

TOTAL		0.100	0.083

PROFIT & LOSS ACCOUNT

PARTICULARS			31.03.2006
Sales Turnover			0.500
Other Income			0.000
Total Income			0.500

KEY RATIOS

PARTICULARS	31.03.2006	31.03.2005
Debt Equity Ratio (Total Liability/Networth)	[17.14]	112.00

Current Ratio (Current Asset/Current Liability)	8.69	3.76

LOCAL AGENCY FURTHER INFORMATION

WEBSITE DETAILS:

Industrial process automation with Electricals / Industrial Electronic Hardware and Software for any type of applications from Designing, Manufacturing, Programming to execution of turnkey projects.

Quality Policy

Quality and Customers are the main religion of Radiant Group. The Company makes sure through its strong technical background maximum benefit to the customers, by adopting the up-to-date technology and continuous improvement with consistent quality translate into contemporary and reliable product for customers.

Range of Products and Services

Switchboards, Control panels, Plc, Acdrive, Control Desk, Feeder Pillers, Motor Control Centre, Power Control Centre, Process Control, Industrial Automation, Automation, Electrical Switchgears, Electrical Panels, Electrical Switchboards, Ahu, Air Washer, Air Handling Unit, Distribution Boards, Control and Relay Panels, Scada, Dcs, Mcc, Pcc, Lt Panels, Amf, Apfcr, Generator Panels, Capacitor Panels, Power Factor Improvement, Energy Conservation, Sub Station, Electrical Consultant, Transmission Towers, Meter Boards, Change Over System, Auto Power Factor Control, Fabrication, Steel Fabrication, Stainless Steel Panels, Airconditioning, Clean Air System, Electrical Contractor, Turn Key Projects, Automation Consultant, Electrical Engineer, Licenced Contractor, Cpri Approved, Harmonic Filters, Reactors, etc...

Electrical Sales Corporation	- 1977
* Electrical Systems and Controls	- 1986
* Radiant Electricals (P) Ltd.	- 1992
* Radiant Infosys (P) Ltd.	- 1999
* Institute of Industrial Automation	- 2000

RADIANT GROUP'S LINE OF ACTIVITIES:

Switch Board Manufacturing.
Ready Made Enclosure/Cubicles.
System House - GE-Fanuc USA.
Exporter - Electrical and Industrial Automation.
Training Institute - Practical Training on computers to Corporates/aspiring Engineers on Allen Bradley,
Siemens, GE-Fanuc PLC and Drives System including programming and Software development.
I.T. Solutions.

FACTORIES

Anand Parbat Industrial Area, Delhi.
Mundka Industrial Area, Delhi.
Dabari Industrial Area, Delhi.
Pace City, Gurgaon (up coming unit).

CREDENTIALS:

An ISO-9002 Company.
Promoted by qualified and highly experienced Engineers.
Our motivation is Customer Satisfaction and Quality.
Growth oriented and customer Focus Company.
Strong technical background.
Continuous up-gradation and up-to-date technologies.
Reliable and economically priced product.
Product as per Indian/International standards.
CPRI type tested for 50KA short circuit level, Temp rise above ambient, IP protection enclosures.

EXPERIENCE :
Embassies, 5-Star Hotels, Commercial Complexes, Societies, Petrochemicals, Pharmaceuticals, Food and Beverages Industries, Auto Mobile Industries, Steel, Sugar, Rubber, Cement Plant, Spinning and Textiles Industries, Electricity Boards, Air-Conditioning and Ventilation, Trade Fairs, Cinemas, Defence, Water Treatment Plants, Farm Houses, Thermal Power Stations, Stadium, Sub-Stations, Hospitals, Banquet Halls, Paper and Printing Industries etc.

RANGE OF PRODUCTS and SERVICES

PRODUCT USERS :

Modi, Maruti, Good Year, Eicher, Escorts, Hilton Rubber, Hamdard, ITC, Hero Cycle, EIL, BHEL, NTPC, SAIL, DCM, Builders and Promoters, Multistoried Complexes, UNICEF, BEL, Bhushan Steel, Publishers, Geo Millar, Degremont, Unitech, Railway, MES, CPWD, Commco, Birla Cement, J.K Tyre, JP Rewa Cement, Cinema, Surya Roshni, Crompton Greaves, 5 Star Hotels like Ashoka, Samrat Centaur, Le-Meridian, Oberoi Inter Continental Delhi, Oberoi Cecil Shimla and Bhubaneshwar, Electricity Boards, Embassies, Daewoo Motors, Britannia, Jindal, Caparo Maruti, GAIL, Allen Bradley, System Houses and Exporters etc.

EXPANSION BEING UNDERTAKEN

Setting up state of the art plant of Gurgaon to cater the interesting demand of ready made enclosures, ready to use AMF, Automatic Power Factor Improvement Panel, Control and Relay Panel, Synchronizing Panel by PLC, Distribution Board.

Range of Products and Services

Ready Made Enclosures

Wall mounting Enclosures, Large Enclosures, Console Systems for MCC, PLC/Drives systems.

Power Control Centre

Consisting of incoming and outgoing Feeders, Copper, Aluminium Bus Bars supported on SMC supports with heat shrinkable sleeves, neatly wired with terminal blocks for Controls, Inter Locking etc.

Control Desk

Tailor made as per Customer requirements for control, fault annunciation with mimic diagrams, hooter and Instrumentation.

PLC/Drive Panels

Radiant Group is supplying the assembled and pre wired PLC Cubicle as per the customer specifications and standard product for the various type of customer's and machinery manufacturers.

Motor Control Centre

Custom made design as per requirements with complete designing, selection of Switchgears tested as per IS standard.

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 records 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 records 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.39.67
UK Pound	1	Rs.81.78
Euro	1	Rs.58.46

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		10

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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