MIRA INFORM REPORT

Report Date :

08.08.2011

IDENTIFICATION DETAILS

Name :	JEKSON MACHINERY PRIVATE LIMITED
Registered Office :	Plot No. 168, Road No.4, GIDC, Kathwada Taluka Dascroi, Ahmedabad- 382430, Gujarat, India
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	22.05.2001
Com. Reg. No.:	04- 39584
Capital Investment / Paid-up Capital :	Rs.1.200 millions
CIN No.: [Company Identification No.]	U29120GJ2001PTC039584
TAN No.: [Tax Deduction & Collection Account No.]	AHMJ00713G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Hydraulic Machines.
No. of Employees :	60 (Office – 8 and Factory – 52) [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 50000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. Shantilal Patel
Designation :	Accounts Assistant
Mobile No. :		91-8000657075
Date :	06.08.2011

LOCATIONS

Registered Office/ Factory :	Plot No. 168, Road No.4, GIDC, Kathwada Taluka Dascroi, Ahmedabad- 382430, Gujarat, India
Tel. No.:	91-79-65259895/ 22901850
Mobile No. :	91-8000657075 [Mr. Shantilal Patel] 91-9998913434 [Mr. H Panchal – Son of Director] 91-9426510343 [Mr. Jagdish Panchal] 91-9327008618 [Mr. Dispesh Mehta]
Fax No.:	91-79-22901851
E-Mail :	corpclient@yahoo.com intro@jacksonmachinery.com kashyapg25@yahoo.com
Website :	www.jeksonmachinery.com
Location :	Owned

DIRECTORS

(AS ON 30.09.2010)

Name :	Mrs. Lataben Panchal
Designation :	Additional Director
Address :	A -205, Sarswati Society, Khodiyar Nagar-2, Bapunagar, Ahmedabad- 380024, Gujarat, India
Date of Birth/Age :	21.09.1968
Date of Appointment :	27.01.2007
DIN No. :	02156564
Name :	Ms. Mayuriben Mehta
Designation :	Additional Director
Address :	14, Meghmala Society, Opposite Trivedi High School, Vejalpur, Ahmedabad- 380051, Gujarat, India
Date of Birth/Age :	03.05.1975
Date of Appointment :	27.01.2007
DIN No. :	01227989
Name :	Mr. Dipeshchandra M Mehta
Designation :	Director
Address :	14, Meghmala Society, Opposite Trivedi High School, Vejalpur, Ahmedabad- 380051, Gujarat, India
Date of Birth/Age :	14.07.1971
Date of Appointment :	22.05.2001
DIN No. :	00335847
Name :	Mr. Jagdishbhai J Panchal
Designation :	Director
Address :	A -205, Sarswati Society, Khodiyar Nagar-2, Bapunagar, Ahmedabad- 380024, Gujarat, India
Date of Birth/Age :	16.04.1963
Date of Appointment :	22.05.2001
DIN No. :	00335873

KEY EXECUTIVES

Name :	Mr. Shantilal Patel
Designation :	Accounts Assistant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2010)

Names of Shareholders	No. of Shares
Dipeshchandra M Mehta	35000
Jagdishbhai J Panchal	35000
Surnisha Organizers Private Limited, India	50000
Total	120000

(AS ON 30.09.2010)

Category	Percentage
Directors or relatives of directors	58.34
Other top fifty shareholders	41.66
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Hydraulic Machines.
Products :	· Hydraulic Press Brakes · Hydraulic Variable Rake Angle Shears · Hydraulic Presses · Horizontal Bending Presses · Hydraulic Angle-Flange Cutting Machines · CNC Punching Machines · CNC Waterjet Cutting Machines · Hydraulic Press Brakes - N.C · Hydraulic Shears
Exports :
Products :	Hydraulic machine
Countries :	· European Countries · UAE
Imports :
Products :	Raw Materials
Countries :	· China · Japan
Terms :
Selling :	Cash and Credit [30 Days]
Purchasing :	Cash and Credit [30 Days]

GENERAL INFORMATION

Customers :

Retailers

No. of Employees :

60 (Office – 8 and Factory – 52) [Approximately]

Bankers :

· HDFC Bank

· Standard Chartered Bank

· ICICI Bank

· Kotak Mahindra Bank

· Bank of Baroda

Odhav Road Branch, Ahmedabad – 382410, Gujarat, India

Facilities :

(Rs. In Millions)

Secured Loans	31.03.2010	31.03.2009
Barcaleys Bank Loan	1.857	2.903
Standard Chartered Bank	0.000	0.037
G E Money Loan	0.525	0.798
Kotak Mahindra Bank Loan	0.847	1.314
HDFC Bank Car Loan	0.338	0.000
Bank OD A/c	12.060	0.000
Total	15.627	5.052
Unsecured Loans	31.03.2010	31.03.2009
From directors and Relatives	0.427	0.427
Total	0.427	0.427

Banking Relations :	--
Auditors :
Name :	Mulik Shah and Company Chartered Accountant
Address :	210, Shagun, 93 Swatik Society, B/H St. Xavier’s Ladies Hostel, C.G Road, Ahmedabad- 380009, Gujarat, India
Tel. No.:	91-79-26467662/ 27473381
Mobile No.:	91-9898063673
Pan No.:	AKQPS8440Q

CAPITAL STRUCTURE

(AS ON 30.09.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- Each	Rs.1.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
120000	Equity Shares	Rs.10/- Each	Rs.1.200 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		1.200	1.200	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		11.268	10.580	0.426
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		12.468	11.780	0.526
LOAN FUNDS
1] Secured Loans		15.627	5.052	0.333
2] Unsecured Loans		0.427	0.427	0.427
TOTAL BORROWING		16.054	5.479	0.760
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		28.522	17.259	1.286
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.778	7.992	8.013
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	20.290	26.218	12.337
	Sundry Debtors	46.338	22.297	1.593
	Cash & Bank Balances	2.490	4.041	1.809
	Other Current Assets	0.848	0.217	0.157
	Loans & Advances	6.985	2.972	1.835
Total Current Assets		76.951	55.745	17.731
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	55.886	47.210	24.907
	Other Current Liabilities	(0.345)	(1.034)	(0.615)
	Provisions	0.666	0.302	0.166
Total Current Liabilities		56.207	46.478	24.458
Net Current Assets		20.744	9.267	(6.727)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		28.522	17.259	1.286

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income (Gross Income)
		Other Income
		TOTAL	92.837	133.198	81.412
			[Due to Recession]
Less	EXPENSES
		Office Expenses
		Administrative Expenses	91.841	132.252	81.112
		Advertising Expenses
		TOTAL	91.841	132.252	81.112
	PROFIT BEFORE TAX		0.996	0.946	0.300
Less	TAX		0.308	0.292	0.000
	PROFIT AFTER TAX		0.688	0.654	0.300
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.080	0.426	0.127
	BALANCE CARRIED TO THE B/S		1.768	1.080	0.427
	EXPORTS VALUE		Nil	NA	2.511
	Earnings Per Share (Rs.)		5.73	65.36	29.96

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.74	0.49	0.37
Return on Total Assets (PBT/Total Assets}	(%)	1.18	1.48	1.17
Return on Investment (ROI) (PBT/Networth)		0.08	0.08	0.57
Debt Equity Ratio (Total Liability/Networth)		5.80	4.41	47.67
Current Ratio (Current Asset/Current Liability)		1.37	1.20	0.73

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The registered office of the company has been shifted from, Plot 9,10,19,20,21 Sahanand Industrial, Estate Opposite Shrirang Chemical, Odhay, Ahmedabad- 382415, Gujarat, India, to the present address w.e.f. 16.04.2007.

OPERATION

The company has Started activities in the stock market and in the first year of operation company has earned profit during the year.

TRADE REFERENCE:

· Sujana Towers Limited – Hyderabad

FORM 8:

Corporate identity number of the company	U29120GJ2001PTC039584
Name of the company	Jekson Machinery Private Limited
Address of the registered office or of the principal place of business in India of the company	Plot No. 168, Road No. 4, GIDC Katwada, Kathwada Taluka Dascroi, Gujarat – 382430, India corpclient@yahoo.com
This form is for	Creation of charge
Type of charge	Immovable Property
Particular of charge holder	Bank of Baroda Odhav Road Branch, Ahmedabad – 382410, Gujarat, India odhav@bankofbaroda.com
Nature of instrument creating charge	Instrument Relating To Deposit of Title Deeds
Date of instrument Creating the charge	05.01.2010
Amount secured by the charge	Rs.17.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interests: 0.75% below BPLR, i.e. 11.25% p.a at present Terms of Repayment: Repayable On Demand Margin: 40% of the market value of property mortgaged Extent and Operation of the charge: First and Exclusive Charge of the Bank
Particulars of the property charged	All that piece and parcels of leasehold land bearing Plot No. 341 admeasuring about 962.50 sq. Mtrs. Situated at GIDC Kathwada Industrial Estate, Block No. 401 Paikee of Mouje Kathwada, Taluka Dascroi, Ahmedabad. All that piece and parcels of leasehold land bearing plot no. 168 admeasuring about 1868 sq. Mtrs. Situated at GIDC Kathwada Industrial Estate Phase 1, Block No. 402 Paikee of Mouje Kathwada, Taluka Dascroi, Ahmedabad.

FIXED ASSETS

· A.C.

· Building

· Bike

· Car Enova

· Car Wegon R

· Car Swift

· Computer

· Control System

· Cycle

· Dead Stock

· Electrical Instolar

· Electrical Controller

· Furniture and Fixture

· Machinery

· Mobile

· Motor Car

· Motor Bike

· Printer

· Tempo

· Water Cooler

· Autocad Software

· Crain

· Fringer Print Machine

· Laptop

· TV

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.46.75
UK Pound	1	Rs.70.92
Euro	1	Rs.59.36

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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

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

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

RATING EXPLANATIONS

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

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

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