MIRA INFORM REPORT

Report Date :

27.12.2007

IDENTIFICATION DETAILS

Name :	HYVA INDIA PRIVATE LIMITED
Formerly Known As:	HYVA INDIA TRANSPORTATION SYSTEMS PRIVATE LIMITED
Registered Office :	Plot # EL – 215, MIDC, Mahape, Navi Mumbai – 400701, Maharashtra
Country:	India
Financials as on:	31.12.2006
Date of Incorporation :	02.09.1996
Com. Reg. No.:	11-102299
CIN No.:	U50100MH1996PTC102299
TAN No.: (Tax Deduction & Collection Account No.)	MUMH07261C
PAN No.: (Permanent Account No.)	AAACH2006C
Legal Form :	Private Limited Liability company. Subject is a subsidiary of Hyva Holding B.V., Holland
Line of Business :	Manufacturing of Front End Telescopic Tipping Cylinders for Tippers and Tip Trailer Segment.

RATING & COMMENTS

MIRA’s Rating :

Aa

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 2200000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. General financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

LOCATIONS

Registered Office :	Plot # EL – 215, MIDC, Mahape, Navi Mumbai – 400701, Maharashtra, India
Tel. No.:	91-22-56165590 / 56165440 / 27671512
Fax No.:	91-22-27672846
E-Mail :	sudhirp@hyvaindia.com
Website :	http://www.hyvaindia.com
Administrative Office :	Plot # C – 246, MIDC, TTC, Pwane, Navi Mumbai – 400 705, Maharashtra
Tel. No.:	91-22-27905441 / 2 / 4 / 27683425
Fax No.:	91-22-27672846 / 25118307
E-Mail :	hyvaind@bom3.vsnl.net.in
Factory :	Plot No. D-222 / 34, MIDC, TTC Shiravane, Navi Mumbai - 400 706, Maharashtra
Tel. No.:	91-22-27672272 / 27636909
Factory :	Located at : Germany Brazil China India

DIRECTORS

Name :	Mr. Sudhir M. Prabhu
Designation :	Managing Director
Address :	Bunglow No. 3, Madhuvan, Deonar Cooperative Housing Society, Gowandi Station Road, Deonar, Mumbai - 400 088 sudhirp@hyvaindia.com
Date of Birth/Age :	25.11.1950
Qualification :	Diploma in Production
Experience :	25 years
Date of Appointment :	21.09.1998
Name :	Mr. Ashok Suresh Deshmukh
Designation :	Alternate Director to Mr. Lawrence Dijkstra
Name :	Mr. Jacob W. Vaandrager (Foreign)
Designation :	Director
Address :	Hyva Beheer B V, Ondernemingsweg-1, 2404HM, Alphen Ad Rijn, Holland
Date of Appointment :	18.11.1997
Name :	Mr. Louwrens M. Dijkstra (Foreign)
Designation :	Director
Address :	Hyva Beheer B V, Ondernemingsweg-1, 2404HM, Alphen Ad Rijn, Holland
Date of Birth/Age :	01.10.1955
Date of Appointment :	18.11.1997
Name :	Mr. Haresh M. Sanghvi
Designation :	Alternate Director to Mr. Jacob Vaandrager
Address :	1/69, Jabareya Court, Marine Drive, Mumbai - 400 020
Date of Appointment :	15.01.1998
Name :	Mrs. Madhuvanti Kamath Prabhu
Designation :	Alternate Director
Address :	Bunglow No. 3, Madhuvan, Deonar Co-op. Hsg. Soc. Gowandi Station Road, Deonar, Mumbai - 400 088
Date of Birth/Age :	26.01.1957
Date of Appointment :	02.09.2004
Name :	Mrs. Kirti Vijay Shenoy
Designation :	Alternate Director
Address :	B-116, Meghdoot, Raheja Township, Malad (East), Mumbai-400097, Maharashtra
Date of Birth/Age :	18.11.1966
Date of Appointment :	14.08.2004
Name :	Mr. Roelof Koch
Designation :	Director
Address :	Hyva Beheer B V, Ondernemingsweg-1, 2404HM, Alphen Ad Rijn, Holland
Date of Birth/Age :	04.11.1954
Date of Appointment :	02.09.2004

KEY EXECUTIVES

Name :	Mr. Shrirang Vasant Khadilkar
Designation :	Company Secretary
Address :	605, “C” Wing, Krushal Towers, M G Road, Chembur, Mumbai – 400089, Maharashtra, India rajuk@hyvaindia.com
Date of Birth/Age :	23.12.1955
Date of Appointment :	17.04.2006
Name :	Mr. B. R. Tarafdar
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Mr. Sudhir M. Prabhu	20
Hyva Beteiligungs Verwaltungs GmbH, Austria	1251000
Total	1251020
Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Front End Telescopic Tipping Cylinders for Tippers and Tip Trailer Segment.

Products :

Item Code No.: [ITC Code]	Product Description
842610	Cranes, Compactors, Scissor – Tipping System and other Transportation System

Agencies Held :

• HMF, Denmark
• JOST, Germany
• RINGFEDER, Germany

GENERAL INFORMATION

No. of Employees :	96
Bankers :	ABN Amro Bank N V, Sakhar Bhavan, Nariman Point, Mumbai-400021 ICICI Bank Citibank NA, Bandra Kurla Complex, G-Block, Bandra (East), Mumbai - 400 051 HDFC Bank Limited Bharat Co-operative Bank

Banking Relations :	Satisfactory
Auditors :	Price Waterhouse Chartered Accountants
Address:	252, Veer Savarkar Marg, Shivaji Park, Dadar- 400028, Maharashtra, India
Associates/Subsidiaries :	Ujwal Process Mechanical Engineering Private Limited Hyva International Hyva Holding BV Hyva Thailand Hyva Malaysia SDN BHD Hyva Transporttechnic Gmbh Hyva Lift Technamics BV Hyva Do Brasil Hydraulica Limited Hyva Mechanics Yangzhou Company limited Kennis Mechinefabriek BV
Parent Company:	Hyva Holding B.V., Holland

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs. 10/- each	Rs. 15.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1251200	Equity Shares	Rs. 10/- each	Rs. 12.510 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.12.2006	31.12.2005	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		12.510	12.510	12.510
2] Share Application Money		0.005	0.005	0.005
3] Reserves & Surplus		540.043	339.402	193.908
NETWORTH		552.558	351.917	206.423
LOAN FUNDS
1] Secured Loans		75.062	51.205	126.393
2] Unsecured Loans		0.000	100.000	0.000
TOTAL BORROWING		75.062	151.205	126.393
DEFERREX TAX LIABILITIES		0.000	0.962	1.221
TOTAL		627.620	504.084	332.816
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		145.418	69.318	65.516
Capital work-in-progress		27.333	9.594	0.486
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		4.142	0.000	1.221
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	457.291	301.448	217.146
	Sundry Debtors	353.918	335.322	181.399
	Cash & Bank Balances	56.554	76.400	23.308
	Other Current Assets	0.176	0.003	0.000
	Loans & Advances	103.233	86.342	169.155
Total Current Assets		971.172	799.515	591.009
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	497.198	352.463	244.595
	Provisions	23.247	21.880	80.335
Total Current Liabilities		520.445	374.343	324.930
Net Current Assets		450.727	425.172	266.079
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		627.620	504.084	332.816

PROFIT & LOSS ACCOUNT

PARTICULARS		31.12.2005	31.03.2005
Sales Turnover		1300.826	1271.962
Total Income		1300.826	1271.962
Profit/(Loss) Before Tax		213.442	173.401
Provision for Taxation		--	66.989
Profit/(Loss) After Tax		213.442	106.412
Export Value		25.677	66.777
Import Value		NA	296.798
Expenditures :
	Interest	7.301	2.638
	Other Expenditure	1080.083	1095.924
Total Expenditure		1087.384	1098.562

KEY RATIOS

PARTICULARS		31.12.2006	31.12.2005	31.03.2005
PAT / Total Income	(%)	NA	16.41	8.37
Net Profit Margin (PBT/Sales)	(%)	NA	16.41	13.63
Return on Total Assets (PBT/Total Assets}	(%)	NA	24.57	26.41
Return on Investment (ROI) (PBT/Networth)		NA	0.61	0.84
Debt Equity Ratio (Total Liability/Networth)		1.08	1.49	2.19
Current Ratio (Current Asset/Current Liability)		1.87	2.14	1.82

LOCAL AGENCY FURTHER INFORMATION

The name of the company was changed to present with effect from 24^th January, 2001.

The Registered office of the company has been shifted from Plot # C 255, MIDC Pawane Village, Navi Mumbai – 400705, Maharashtra, India to the present address w.e.f. 23.12.2006

Subject is a wholly owned Dutch subsidiary of Hyva Holding B.V, Holland. They commenced their operations on TEST basis to feel and know the Indian Business by making absolute minimum investments as well as exposure.

The company is the 22^nd Daughter Company of Hyva Holding B.V. At present, they are consolidating their business plan for 2000-2010 based on hands on experience gained by them.

Their customers are their sister companies around the world. Their world-wide suppliers are channelized through their Dutch Office. They would prefer dealing with companies whom they know well, it can be a customer or suppliers.

Subject is engaged in manufacturing and Trading of Cranes, Compactors, Scissors-Tipping Systems and other Transportation Systems. This involves assembly of various components that are either imported from foreign countries or purchased in the domestic markets.

As such, considering the number, various sizes and specification of such parts and lack of uniform meaningful unit of measurement for the items, the management is of the opinion that it was not possible to had separate quantitative details for various items involved in the manufacturing business.

Exports

Subject has started executing export order for Volvo India and Tata Motors.

The company has been accredited with ISO 9001 : 2000 Certification.

It is in trade terms with:-

· Suhail & Company

· Vora Industries

· Swastik Engineers Private Limited

· Weldon Engineers Private Limited

· Excel Engfab Private Limited

· Unique Welding Products Private Limited

· Metcoan Coating & Chemicals

· Intercrome

· Powerlift Equipments Private Limited

Fixed Assets:

Ø Land

Ø Leasehold Improvements

Ø Plant & Machinery

Ø Vehicles

Ø Computers

Ø Furniture & Fittings

Ø Electrical Installation

Ø Tools & Equipments

Ø Office Equipments

Bankers Charges Report as per Registry

Name of the Company HYVA INDIA PRIVATE LIMITED Presented by Mr. ABN AMRO Bank N V & HYVA INDIA PRIVATE LIMITED
Date and description of instrument creating the change	Dated: 13^th January, 2004 Special Hypothecation Agreement
Amount secured by the charge/amount owing on the securities of charge	Import and Inland LC : INR Rs. 45.000 million Overdraft/STPLR (Within the sub limit of facility 1) : (INR Rs. 45.000 million) OBSI: EURO Rs. 0.500 millions
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of the Borrower’s fixed assets morefully described in the Schedule II to the agreement, whether installed or not and whether lying loose or in cases or being on or upon or at any time hereafter during the continuance of this security being on or upon or about the premises and godowns, factory or wherever else the same may be or be held by the party to the order or disposition of the Borrower or in the course of transit
Gist of the terms and conditions and extent and operation of the charge.	The above assets hypothecated to the bank as security for the payment by borrower to the bank of all the moneys that may be due and payable by the Borrower to the bank of all the moneys that may be due and payable by the Borrower to the Bank under facilities aggregating INR Rs. 45.000 millions plus Euro Rs. 0.500 millions with all interest, charges, costs and expenses payable to and incurred by the bank in relation thereto
Name and Address and description of the person entitled to the charge.	ABN Amro Bank N V Sakhar Bhavan Nariman Point Mumbai-400021
Date and brief description of instrument modifying the charge	Dated: 8^th March, 2005 Supplemental Special Hypothecation Agreement
Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	At the request of the Borrower the bank has agreed to revise/modified the credit facility/ies upto INR Rs. 87.500 millions against hypothecation of borrowers fixed assets including as detailed in the Schedule to the Agreement, whether installed or not and whether now lying loose or in case of being on or at any time hereafter during the continuance of this security being on or upon or about the premises and godowns, factory or wherever else the same may be or be held by any party to the order or disposition of the Borrower or in the course of transit Interest at negotiated rate. Thus, the charge now stands secured at INR Rs. 87.500 millions

Name of the Company HYVA INDIA PRIVATE LIMITED

Presented by ABN AMRO Bank N V & HYVA INDIA PRIVATE LIMITED

Date and description of instrument creating the change	Dated: 13^th January, 2004 Special Hypothecation Agreement
Amount secured by the charge/amount owing on the securities of charge	Import and Inland LC : INR Rs. 45.000 million Overdraft/STPLR (Within the sub limit of facility 1) : (INR Rs. 45.000 million) OBSI: EURO Rs. 0.500 millions
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of the Borrower’s fixed assets morefully described in the Schedule II to the agreement, whether installed or not and whether lying loose or in cases or being on or upon or at any time hereafter during the continuance of this security being on or upon or about the premises and godowns, factory or wherever else the same may be or be held by the party to the order or disposition of the Borrower or in the course of transit
Gist of the terms and conditions and extent and operation of the charge.	The above assets hypothecated to the bank as security for the payment by borrower to the bank of all the moneys that may be due and payable by the Borrower to the bank of all the moneys that may be due and payable by the Borrower to the Bank under facilities aggregating INR Rs. 45.000 millions plus Euro Rs. 0.500 millions with all interest, charges, costs and expenses payable to and incurred by the bank in relation thereto
Name and Address and description of the person entitled to the charge.	ABN Amro Bank N V Sakhar Bhavan Nariman Point Mumbai-400021
Date and brief description of instrument modifying the charge	NA
Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	NA

Name of the Company HYVA INDIA PRIVATE LIMITED

Presented by ABN AMRO Bank N V & HYVA INDIA PRIVATE LIMITED

1. Date and description of instrument creating the change

Dated: 30^th January, 2003

Facility cum Hypothecation Agreement

Entire Stocks and Book Debts

2. Amount secured by the charge/amount owing on the securities of charge

Rs. 10.000 millions

3. Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

The whole of the current assets of the Borrower namely, Stock of Raw materials, stocks in process, Semi finished and finished goods, stores and Spares not relating to plant and machinery, bills receivables and book debts and all other movable, both present and future whether now lying loose or in cases or which are lying or stored in or about or shall herein after from time to time during the continuance of the security of these presents be brought into or upon or be stored or be in or about the Borrowers factory premises and godown situated at Navi Mumbai in the state of Maharashtra or wherever else the same may be or be held at any party to the order or disposition of the Borrower in the course of transit or on high seas or on order or delivery, howsoever and wherever in the possession of the Borrower and either by way of substitution or addition

4. Gist of the terms and conditions and extent and operation of the charge.

First Charge on all the borrower’s stock and book debts to secure all the credit facilities to the extent granted to company as described below

For Cash Credit /Overdraft:

At ABN Amro PLR (16% p.a.)

Less: 2% (effective rate – 14% p.a.)

(I) For STPLR Loans

Upto INR: 10.000 million – Negotiate rate currently at 9.50% p.a.

5. Name and Address and description of the person entitled to the charge.

ABN Amro Bank N V

Sakhar Bhavan

Nariman Point

Mumbai-400021

6. Date and brief description of instrument modifying the charge

Dated: 13^th January, 2004

Facility cum Hypothecation Agreement

7. Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

a) Past modification :

The original charge created on 30.01.2003 for Rs. 10 millions was modified and increased to Rs. 25 millions on 5.6.2003

b) Present modification:

At the request of the Borrower the Bank has agreed to increase/increased the credit facilities as shown hereunder:

Facility	Limit (Rs. In Millions)	Rate of Interest
Import and Inland Letter of Credit	INR 45.000	Standard Tariff
Overdraft/Short Term Prime Lending Rate Loan (STPLR)	(INR 45.000)	Overdraft: At Bank’s PLR (16% p.a.) less 2% p.a. STPLR: At Negotiated Rate
Total	INR 45.000

Against hypothecation of all book debts and tangible movable properties of the Borrower including Raw materials, stocks in process, Semi finished and finished goods, stores and Spares not relating to plant and machinery, bills receivables and book debts and all other movable, both present and future whether now lying loose or in cases or which are lying or stored in or about or shall herein after from time to time during the continuance of the security of these presents be brought into or upon or be stored or be in or about the Borrowers factory premises and godown including any such goods in the course of transit or delivery

Thus, the charge now stands secured at Rs. 45.00 millions

Name of the Company HYVA INDIA PRIVATE LIMITED

Presented by ABN AMRO Bank N V & HYVA INDIA PRIVATE LIMITED

Date and description of instrument creating the change	Dated: 30^th January, 2003 Facility cum Hypothecation Agreement Entire Stocks and Book Debts
Amount secured by the charge/amount owing on the securities of charge	Rs. 10.000 millions
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	The whole of the current assets of the Borrower namely, Stock of Raw materials, stocks in process, Semi finished and finished goods, stores and Spares not relating to plant and machinery, bills receivables and book debts and all other movable, both present and future whether now lying loose or in cases or which are lying or stored in or about or shall herein after from time to time during the continuance of the security of these presents be brought into or upon or be stored or be in or about the Borrowers factory premises and godown situated at Navi Mumbai in the state of Maharashtra or wherever else the same may be or be held at any party to the order or disposition of the Borrower in the course of transit or on high seas or on order or delivery, howsoever and wherever in the possession of the Borrower and either by way of substitution or addition
Gist of the terms and conditions and extent and operation of the charge.	First Charge on all the borrower’s stock and book debts to secure all the credit facilities to the extent granted to company as described below For Cash Credit /Overdraft: At ABN Amro PLR (16% p.a.) Less: 2% (effective rate – 14% p.a.) (I) For STPLR Loans Upto INR: 10.000 million – Negotiate rate currently at 9.50% p.a.
Name and Address and description of the person entitled to the charge.	ABN Amro Bank N V Sakhar Bhavan Nariman Point Mumbai-400021
Date and brief description of instrument modifying the charge	Dated: 13^th January, 2004 Supplementary Facility cum Hypothecation Agreement
Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	First Charge on all the borrower’s stock and book debts to secure the enhanced credit facilities to the extent of INR:25.00 million granted to the company For Cash Credit /Overdraft: At ABN Amro PLR (16% p.a.) Less: 2% (effective rate – 14% p.a.) (I) For STPLR Loans Upto INR: 25.000 million – Negotiate rate currently at 9.50% p.a.

Name of the Company HYVA INDIA PRIVATE LIMITED

Presented by ABN AMRO Bank N V & HYVA INDIA PRIVATE LIMITED

Date and description of instrument creating the change	Dated: 30^th January, 2003 Facility cum Hypothecation Agreement Entire Stocks and Book Debts
Amount secured by the charge/amount owing on the securities of charge	Rs. 10.000 millions
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	The whole of the current assets of the Borrower namely, Stock of Raw materials, stocks in process, Semi finished and finished goods, stores and Spares not relating to plant and machinery, bills receivables and book debts and all other movable, both present and future whether now lying loose or in cases or which are lying or stored in or about or shall herein after from time to time during the continuance of the security of these presents be brought into or upon or be stored or be in or about the Borrowers factory premises and godown situated at Navi Mumbai in the state of Maharashtra or wherever else the same may be or be held at any party to the order or disposition of the Borrower in the course of transit or on high seas or on order or delivery, howsoever and wherever in the possession of the Borrower and either by way of substitution or addition
Gist of the terms and conditions and extent and operation of the charge.	First Charge on all the borrower’s stock and book debts to secure all the credit facilities to the extent granted to company as described below For Cash Credit /Overdraft: At ABN Amro PLR (16% p.a.) Less: 2% (effective rate – 14% p.a.) (I) For STPLR Loans Upto INR: 10.000 million – 9.50% p.a. Beyond INR: 10.000 million – 12.50%
Name and Address and description of the person entitled to the charge.	ABN Amro Bank N V Sakhar Bhavan Nariman Point Mumbai-400021
Date and brief description of instrument modifying the charge	Dated: NA Facility cum Hypothecation Agreement
Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	NA

Corporate identity number of the company	U50100MH1996PTC102299
Name of the company	HYVA INDIA TRANSPORTATION SYSTEMS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot # C 255, MIDC Pawane Village, Navi Mumbai – 400705, Maharashtra, India
This form is for	Modification of charge
Type of charge	Equitable mortgage or mortgage of property by deposition the title deeds
Particular of charge holder	ABN Amro Bank N V Sakhar Bhavan Nariman Point Mumbai-400021 In.bs.ccc@in.abnamro.com
Amount secured by the charge	Rs. 45.000 Millions
Description of the property charged indicating whether it is a charged on	Plant and Machinery
Particulars of the property charged	Hypothecation of the borrower’s fixed assets more fully described in the schedule II to the agreement, whether installed or not and whether lying loose or in cases or being on or upon or at any time hereafter during the continuance of this security being on or upon or about the premises and godowns, factory or wherever else the same may be or be held by the party to the order or disposition of the borrow or in the course of transit
Charge identification number of the charge to be modified	90148543
Brief description of the instrument modifying the charge under section 135	Memorandum of entry
Date of instrument modifying the charge	18.04.2006

AS PER WEBSITE

PROFILE

Subject is a 100% subsidiary of Netherland based Multinational Company Hyva Group. The Company is dedicated to provide World Class Transport Efficiency Solution to Indian Commercial Vehicle Industry.

HYVA Group started its journey in Alphen aan den Rijn in Netherlands in 1979. Hyva group’s global existence in proven through its strong manufacturing base spread in Netherlands , Germany , Italy , Brazil , China and India .

Today Hyva is recognized as a leading supplier of quality products marketed through 24 fully owned subsidiaries and 65 dealerships across the globe. Hyva products are available in 130 countries across the globe with a customer base of more than 25,000. The group turn over for the year 2006 has been euro 250 m and the group looks forward for quantum growth in coming years.

Hyva emerged in Indian Market in 1997 and now spread its wings in 3 manufacturing plant spread in Navi Mumbai , Bangalore and Jamshedpur . In India, the company is a strong brand name for Tipper & Tipper Hydraulics and an automatic choice for all established and emerging Automobile Companies . Hyva Front End and Special Underbody Cylinders are today symbol of

Apart from Tippers , Hyva also is a ‘one stop shop’ for customers , who wants to add value to their trucks by adding hydraulic efficiency to it . Hyva’s global manufacturing capacity of Truck Mounted Crane , Hook Lift System , Moving Floors are at disposal for Indian customers .

PRODUCT

HYVA TIPPING HYDRAULICS FOR TIPPERS AND TIP-TRAILER

Hyva is now World Leader in manufacturing of Front End Telescopic Tipping Cylinders for Tippers and Tip Trailer Segment.

Through its 4 Manufacturing Centre ( Germany , Brazil , China & India ) .. Hyva Group is aiming production of 1,40,000 Tipping Cylinder for its global customer base in Year 2007 . Hyva’s Navi Mumbai factory produces around 30% of Hyva Global demand incuding India.

Honoring end customer’s varied need , Hyva produces over 250 variants of Tipping Cylinder ranging from lifting capacity 3 Ton – 90 Ton .

For Indian Tipper Market , Hyva supplies the Complete Hydraulics for Tipper Trucks or Trailers , in Basket form comprising of Global Standard Hydraulic Components like Power Take Off , Pumps , Tipping Valve , Air Control Valves. These components are either manufactured at Hyva or designed and developed for Hyva by its worldwide supplier base .

Hyva Sales Network is ever ready to suggest willing customers to suggest the best combination of Hydraulics considering the varied need of Application & Load Lifting for each variant of Truck .

Special Under Body Cylinders

While HYVA Front End Hydraulics is widely popular and well known products for M&HCV Segment , Hyva now present good range of Special Under Body Cylinders – UCB Range for LCV & MCV Segment .
Powerful & Easy to Mount , Underbody Cylinders are now ready to cater to country’s still strong low tonnage tipper market.

New Development

As Market Leader , Hyva holds the responsibility to turn its already “good” product to “better” product and in this strive for excellence , Hyva has launched new F.L.A.S.H Series Cylinders for Indian Tipper Market since 2005.

The new entries and old to new conversions are :
     FE120 & FE141 Range to FE129 Range & FE149 (for Heavy Duty Application)
     FE162 Range to FE169 Range
     FE183 Range to FE191 Range
     FC207 Range to FC214 Range

Few Points

• All Hyva Tippers are essentially fitted with Hyva Hydraulics
• Apart from Original Equipment Manufacturer , Hyva caters the need of Tipping Hydraulics for Individual Customers / Body Builders / Truck Dealers through its Indian Dealer Network
• Hyva provides technical support for selection and installation of Hydraulics
• Hyva India made Tipping Hydraulics is available for Export Markets only if the Order Booking is done through Hyva International and same will be catered through Hyva Subsidiaries / or Global Dealers

HYVA TIPPERS

Keeping in view the growing need of Fully Built Solution for country’s leading Truck Manufacturers, HYVA started its Tipper Building Activity in India in 1998 for Swedish Truck Giant Volvo and soon company got the recognition as a Quality Sensitive Supplier capable of delivering endurable products in tough mining segment.

The success story replicated for Country’s largest Truck Manufacturer TATA Motors Limited and HYVA Tippers made its strongest presence in Multi Axle Tipper Segment for Construction and Road Development Projects. Thanks to widely talked Golden Quadrilateral Project, soon HYVA Trucks became highly visible on Indian Roads.
Apart from Volvo & TATA Motors, today Hyva builds Tippers almost for all leading Truck Manufacturing Companies , namely Ashok Leyland , Daimler Chrysler , Asia Motor Works , MAN Force .

Tippers are deployed in tough terrain of Mining Sectors to fast developing Road Construction Projects or Irrigation Projects , Land Development to Ore Transportation and keeping the varied need Hyva India has developed almost 30 different types of Tippers from LCV Range ( 4 t – 7 t GVW Trucks ) , MCV Range ( for 16 T GVW Trucks ) and HCV & Super HCV Range ( 25 Ton and above ) .

Some of the widely popular variants are :

• Drop Side Box Body for LCV Trucks ( 2.5 cu.m – 3 cu.m – 3.5 cu.m ) with Special Under Body Hydraulics
• Box Body for MCV Trucks ( 6 cu.m – 8.5 cu.m – 10 cu.m )
• Box Body ( 12 cu.m – 14 cu.m – 16 cu.m size )
• Rock Body with Sandwich Floor ( 12 cu.m – 14 cu.m )
• Mining Tippers with Special Imported Steel ( 14 cu.m – 15 cu.m – 16 cu.m – 18 cu.m )
• Tippers with Hydraulic Tail door ( 12 & 14 cu.m )
• Tippers for Light Density Materials ( 20 cu.m - 23 cu.m – 27 cu. M )

Apart from the standard Tippers , Hyva also has supplied Side Tippers ( 2 Way or 3 Way ) which are aptly developed for hilly terrain , narrow roads , rural roads .

In its constant relentless effort of developing new generation Tippers , HYVA has now introduced Ribless Body for its widely popular 14 cu.m and 20 cu.m Box Body version for TATA Motors. These new generation Tipper Bodies ensure

• Less Body Weight .. thereby , higher payload
• Easy Flow of Materials
• Modern Look

HYVA also has got Hydraulically Operated Load Covering System – MULTIKAP for its Tipper Range . Considering growing need of environment friendly Tippers , this products has got a wide application possibility in India .

Product Features

In Hyva , the quality starts from Raw Materials Procurement … All Hyva Tipper Bodies are made of Steel procured from country’s best Steel Manufacturing Companies .

For all its Tippers , Hyva used st52.3 or equivalent grade of Steel with minimum yield of 340 N/sq.mm . In certain Mining Tippers HYVA uses Imported Wear Resistance Steel .

Hyva Bodies are considered as superior , because of :
• Superiority and Consistency of Raw Materials
• High Strength and Quality of Welding ( MIG Welding with Mixed Argon Gas )
• Superior Design – optimizing the load benefit in favour of end user
• Assured Workmanship
• Close and perpetual vigil for Quality Assurance

Few Points ….

• Hyva is country's largest Tipper manufacturer as of day for the Multi Axle Trucks

• We develop , manufacture and supply Tipper Bodies only to Original Equipment Manufacturers (OEM)

• Hyva is Happy to encourage Body Builders for their strive for excellance and ready to share basic dimensional drawing of various types of Tipper Bodies

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.39.39
UK Pound	1	Rs.78.02
Euro	1	Rs.56.77

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		72

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.	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