MIRA INFORM REPORT

Report Date :

20.08.2011

IDENTIFICATION DETAILS

Name :	SAM PRODUCTS PRIVATE LIMITED
Registered Office :	9/22, IInd Floor, East Patel Nagar, New Delhi – 110008
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	17.01.2007
Com. Reg. No.:	55-158068
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U51101DL2007PTC158068
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer of Air Showers, Air Curtains, Air Cooling Systems etc.
No. of Employees :	25 (Approximately)

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 14000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The company is progressing well. Trade relations are reported to be usually correct. The company can be considered normal 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 – 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. Sanjay
Designation :	Director
Contact No.:	91-9810065139
Date :	16.08.2011

LOCATIONS

Registered Office :	9/22, IInd Floor, East Patel Nagar, New Delhi – 110008, India
Mobile No.:	91-9810065139 (Mr. Sanjay)
E-Mail :	krish57in@yahoo.com samproducts@vsnl.com skohli@kcccas.com
Location :	Owned
Factory :	No. B-137, Sector – 6, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-4357039/ 4357040
Fax No.:	91-120-4357039/ 4357040

DIRECTORS

(AS ON 22.09.2010)

Name :	Mr. Sanjay Batra
Designation :	Director
Address :	B- 139, Sector -28, Noida, Uttar Pradesh, India
Date of Birth/Age :	12.08.1968
Date of Appointment :	17.01.2007
Other Directorship :	Saroh Clean Engineers Private Limited U29191DL2004PTC131404
Name :	Mrs. Sonia Batra
Designation :	Director
Address :	B- 139, Sector -28, Noida, Uttar Pradesh, India
Date of Birth/Age :	10.01.1971
Date of Appointment :	17.01.2007
Other Directorship :	Saroh Clean Engineers Private Limited U29191DL2004PTC131404

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 22.09.2010)

Names of Shareholders	No. of Shares
Sanjay Batra	50000
Sonia Batra	50000
Total	100000

(AS ON 30.09.2010)

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Air Showers, Air Curtains, Air Cooling Systems etc.
Products :	· Air Curtains · Air Showers · Clean Room Modules · Pass Boxes · Garment Cubicles · Clean Rooms · Air Cooling Systems.
Exports :
Products :	· Air Curtains · Air Showers · Clean Room Modules · Pass Boxes · Garment Cubicles · Clean Rooms · Air Cooling Systems.
Countries :	· Europeans · African Countries
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit (Depend)

GENERAL INFORMATION

Customers :

OEM’s and Manufacturer

· Bennett Coleman Company Limited

· ETA Engineering Private Limited

· Fiem Industries Limited

· Gayatri Automation Systems Private Limited

· Global Technologies and Medical Science

· Hindustan Aeronautics Limited

· I. I. T. Kanpur

· Mark Int.

· Office of Controller of Stores

· Rajendra enterprises

· Samsung India Electronics Private Limited

· Shahnaz Ayurvedics (Roorkee)

· SRP Enviro Systems Private Limited

· Surya Roshini Limited

· Taikisha engineering India Limited

· Tata Motor Limited

Suppliers :

· Anil Kumar and Company

· Associates Engineers Enterprisers

· Ess Kay Electricals

· Geetanjali Technologies

· Green International

· Hitech Powder

· Jai Durga Sheet Metal

· New Air Cool Engineers

· Purohit Sudhir and Associates

· Raunak Engineering

· Sai Om Packagings

· Smart Brain Consultancy Services Private Li9mited

· S. N. Engineering Work

· Sycon Industries

· Thomas International Publishing Co. India Private Limited

No. of Employees :

25 (Approximately)

Bankers :

· The Jammu and Kashmir Bank Limited

P-2, J.O.P. Plaza, Sector-18, Noida - 201301, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Cash Credit from J and K Bank Limited (Secured against hypothecation of Stock and Book Debts)	0.851	1.158
Total	0.851	1.158
Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
From Directors	1.014	1.219
From Others	0.000	0.043
Total	1.014	1.262

Banking Relations :	--
Auditors :
Name :	Sudhir Purohit Chartered Accountant
Address :	C-7/184, Naveen Niketan, Safdarjung Development Area, New Delhi – 110016, India
Mobile No.:	91-9810312784

CAPITAL STRUCTURE

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Share	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Share	Rs.10/- each	Rs.1.000 Million

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		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.503	1.280	0.864
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.503	2.280	1.864
LOAN FUNDS
1] Secured Loans		0.851	1.158	0.389
2] Unsecured Loans		1.014	1.262	0.000
TOTAL BORROWING		1.865	2.420	0.389
DEFERRED TAX LIABILITIES		0.009	0.000	0.000
TOTAL		5.377	4.700	2.253
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.603	3.326	0.621
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	0.716	0.590	0.820
	Sundry Debtors	3.251	1.802	0.581
	Cash & Bank Balances	0.298	0.096	0.325
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.688	0.262	0.502
Total Current Assets		4.953	2.750	2.228
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	2.631	1.099	0.034
	Other Current Liabilities	1.014	0.084	0.138
	Provisions	0.551	0.219	0.456
Total Current Liabilities		4.196	1.402	0.628
Net Current Assets		0.757	1.348	1.600
MISCELLANEOUS EXPENSES		0.017	0.026	0.032
TOTAL		5.377	4.700	2.253

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	13.838	7.965	12.400 (Income From Operations)
		Other Income	0.039	0.003
		TOTAL (A)	13.877	7.968
Less	EXPENSES
		Increase/ (Decrease) in Stocks	(0.125)	0.229
		Purchases	7.456	3.579
		Manufacturing Expenses	1.249	1.083
		General and Administrative Expenses	3.371	2.297
		TOTAL (B)	11.951	7.188
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.926	0.780	NA
Less	FINANCIAL EXPENSES (D)		0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.926	0.780
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.144	0.145
	PROFIT BEFORE TAX (E-F) (G)		1.782	0.635	1.249
Less	TAX (H)		0.559	0.219	0.439
	PROFIT AFTER TAX (G-H) (I)		1.223	0.416	0.810
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		--	--
	BALANCE CARRIED TO THE B/S		1.223	0.416
	Earnings Per Share (Rs.)		12.23	--	--

Particulars	31.03.2011
Sales Turnover (Approximately)	20.000

The above information has been parted by Mr. Sanjay.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	8.81	5.22	NA
Net Profit Margin (PBT/Sales)	(%)	12.88	7.97	NA
Return on Total Assets (PBT/Total Assets}	(%)	18.65	10.45	43.84
Return on Investment (ROI) (PBT/Networth)		0.51	0.28	0.67
Debt Equity Ratio (Total Liability/Networth)		1.73	1.68	0.55
Current Ratio (Current Asset/Current Liability)		1.18	1.96	3.55

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The Registered Office of the company has been shifted from B-103, Second Floor, New Delhi – 110024, India, to the present address w.e.f. 31.12.2010.

OPERATING RESULTS

The company has achieved sales of Rs.13.838 Millions and Net Profits of Rs.1.222 Millions. The Company hopes to even better the next year.

FORM 8:

Corporate identity number of the company	U51101DL2007PTC158068
Name of the company	SAM PRODUCTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B 103 Second Floor, New Delhi – 110024, India samproducts@vsnl.com
This form is for	Modification of charge
Type of charge	Immovable property Book Debts Movable Property (Not Being Pledge) Others: Primary hypothecation of all types of stock
Particular of charge holder	· The Jammu and Kashmir Bank Limited P-2, J.O.P. Plaza, Sector-18, Noida - 201301, Uttar Pradesh, India ghazia@jkbmail.com
Nature of instrument creating charge	Loan Agreement Dated 09th January, 2010.
Date of instrument Creating the charge	09.01.2010
Amount secured by the charge	Rs.1.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interests: 11.75% P.A. floating with monthly rests. Terms of repayment: Not Applicable Margin: 40% on Stocks and 50% on Book Debts Extent and Operation of the Charge: Till the outstanding dues are paid
Particulars of the property charged	Equitable of property bearing No. 208-B Ist Floor, Shipra Sun City, Indirapuram, Ghaziabad, Uttar Pradesh
Particulars of the present modification	Enhancement of existing CC limit from Rs.0.825 Millions to Rs.1.500 Millions.

FIXED ASSETS:

· Land

· Car – Scorpio

· Plant and Machinery

· Computers

· Air Conditioner

· Building

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.45.61
UK Pound	1	Rs.75.32
Euro	1	Rs.65.68

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
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.