1. Summary Information

		Country	India
Company Name	INKOTECH INDIA PRIVATE LIMITED	Principal Name 1	Mr. Myung Bo Kim
Status	Moderate	Principal Name 2	Mr. Jang Soo Kang
		Registration #	55 - 112457
Street Address	5/31,WEA, Karol Bagh, New Delhi – 110005, India
Established Date	19.09.2001	SIC Code	--
Telephone#	91-11-25767960/ 25767970	Business Style 1	Manufacturers
Fax #	Not Available	Business Style 2	Suppliers
Homepage	http://www.inkotech.com	Product Name 1	Computer Monitor
# of employees	120 (approximately)	Product Name 2	Plastic Moulded Cabinets
Paid up capital	Rs. 27,320,000/-	Product Name 3	Plastic Parts of Refrigerator
Shareholders	Directors or relatives of directors – 99.99% Others – 0.01%	Banking	UCO Bank
Public Limited Corp.	NO	Business Period	10 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	B (27)
Related Company
Relation	Country	Company Name	CEO
Joint Venture	India	S. I. Precision Mould Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	168,809,000	Current Liabilities	121,400,000
Inventories	33,099,000	Long-term Liabilities	50,732,000
Fixed Assets	36,010,000	Other Liabilities	0
Deferred Assets	1,218,000	Total Liabilities	172,132,000
Invest& other Assets	4,525,000	Retained Earnings	18,437,000
		Net Worth	71,529,000
Total Assets	243,661,000	Total Liab. & Equity	243,661,000
Total Assets (Previous Year)	194,476,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	486,620,000	Net Profit	271,000,000
Sales (Previous yr)	463,440,000	Net Profit(Prev.yr)	3,141,000

MIRA INFORM REPORT

Report Date :

22.08.2011

IDENTIFICATION DETAILS

Name :	INKOTECH (INDIA) PRIVATE LIMITED (w.e.f 02.09.2002)
Formerly Known As :	FAMEX (INDIA) PRIVATE LIMITED
Registered Office :	5/31,WEA, Karol Bagh, New Delhi – 110005, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	19.09.2001
Com. Reg. No.:	55-112457
Paid-Up Capital :	Rs. 27.320 Millions
CIN No.: [Company Identification No.]	U25206DL2001PTC112457
TAN No.: (Tax Deduction & Collection Account No.)	DELI03932F DELI05104B
PAN No.: (Permanent Account No.)	AAACF5591Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and Suppliers of Computer Monitor, Plastic Moulded Cabinets, Plastic Parts of Refrigerator and Washing Machines.
No. of Employees :	120 (approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 280000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some cautions.

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

LOCATIONS

Registered Office / Factory :	5/31,WEA, Karol Bagh, New Delhi – 110005, Delhi, India
Tel. No.:	91-11-25767960/ 25767970
Fax No.:	Not Available
E-Mail :	inkotech@vsnl.com vk_jain@hotmail.com accounts@inkotechindia.com jain_vijendra@hotmail.com accounts@inkotechindia.com consult@vsnl.com
Website :	http://www.inkotech.com
Area :	4500 sq. ft.
Location :	Rented
Factory 2:	C 2 / 3, Phase-II, Extension Hosiery Complex, Gautam Budh Nagar, Noida – 201305, Uttar Pradesh, India
Tel. No.:	91-120-4352593/ 4352746/ 4320594 / 4320593 / 2461975 / 4685700
Fax No.:	91-120-2461245
Area :	Leased
Location :	Industrial
Corporate Office :	201, Ground Floor, Jor Bagh, New Delhi – 110 003, India
Tel No.:	91-11-2461243/ 4/ 975/490/ 970
Email :	inkotech@vsnl.com
Website :	http://www.inkotech.com
Area :	Leased
Location :	Commercial

DIRECTORS

AS ON 30.09.2010

Name:	Mr. Myung Bo Kim
Designation:	Managing Director
Address:	301, Corbet Tower, The Forest Omaxe, Sector 92, Noida – 201305, Uttar Pradesh, India
Date of Birth:	06.06.1959
Date of Appointment:	19.09.2001
DIN No.:	02033136
Name:	Mr. Jang Soo Kang
Designation:	Director
Address:	P2/04, Silver City, Sector – 93, Noida – 201305, Uttar Pradesh, India
Date of Birth:	05.12.1943
Qualifications :	Post Graduate
Date of Appointment:	15.05.2005
DIN No.:	01980838
Name:	Mr. Suchinto Chatterji
Designation:	Director
Address:	E-904, IInd Floor, C. R. Park, New Delhi – 110019, India
Date of Appointment:	25.08.2003
Name:	Mr. Vijay Kumar
Designation:	Additional Director
Date of Appointment:	18.06.2009
DIN No.:	01334822

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Myung Bo Kim	2731955
Harry Y Shin	1
Total	2731956

AS ON 30.09.2010

Category	Percentage
Directors or relatives of Directors	99.99
Other	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers and Suppliers of Computer Monitor, Plastic Moulded Cabinets, Plastic Parts of Refrigerator and Washing Machines.
Products :	Plastic Moulded Components for Castings Washing Machines Refrigerators Computer Monitors.
Imports (As On 31.03.2009) :
Products :	ABS Plastic Granule
Countries :	Korea China Singapore
Terms (As On 31.03.2009) :
Selling :	Credit (30/60 days)
Purchasing :	Credit (30/60 days)

GENERAL INFORMATION

Suppliers (As On 31.03.2009) :

· AVS Limited, Delhi

· Hartech Plastics Private Limited

· Donglim Precision India Private Limited

· Dirco Polymers Private Limited

· Amba Auto Industries Private Limited

· Hora Art Centre Private Limited

· Sai Colour and Chemicals

· N K Polypack Industries

Customers (As On 31.03.2009) :

Actual users and computer assemblers

• Samsung India

No. of Employees :

120 (approximately)

Bankers :

• UCO Bank, Defence Colony, New Delhi – 110 024, India
• Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23 Barakhamba Road, New Delhi – 110001
• Shinhan Bank - Mercantile House, Upper Ground Floor, 15, Kasturba Gandhi Marg, New Delhi – 110001, Delhi, India

Facilities :

Secured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
Working Capital Loan From Bank
(Secured by Exclusive charge by standard Chartered Bank by hypothecation of entire stocks and book debts and along with charge on the other assets of the company both present and future and guarantee of one of the directors)	36.305	21.730
Vehicles Loans
(Secured by hypothecation of the Company vehicles) (Amount due with in one year Rs.2.539 Millions, Previous years Rs.0.304 Million)	3.524	1.381
Total	39.829	23.111
Unsecured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
Amount due for capital goods in Foreign Currency	5.203	5.831
Unsecured Loan	0.800	0.000
Deferred payment liability against leasehold land from Noida authority	4.900	0.000
Total	10.903	5.831

Banking Relations :	--
Auditors :
Name :	Budhraja Adlakha and Company Chartered Accountants
Address :	5/31, W. E. A. Karol Bagh, New Delhi – 110 005, India
Tel. No.:	91-11-25767970/25767960
Fax No.:	91-11-25714237
Pan No.:	AAAFB5210B
Joint Venture :	S. I. Precision Mould Private Limited

CAPITAL STRUCTURE

As On 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
2750000	Equity Shares	Rs. 10/- each	Rs. 27.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2731956	Equity Shares	Rs. 10/- each	Rs. 27.320 Millions

As On 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3733177	Equity Shares	Rs. 10/- each	Rs. 37.332 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		27.320	27.320	23.588
2] Share Application Money		25.772	25.772	18.575
3] Reserves & Surplus		18.437	18.107	12.727
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		71.529	71.199	54.890
LOAN FUNDS
1] Secured Loans		39.829	23.111	25.570
2] Unsecured Loans		10.903	5.831	4.638
TOTAL BORROWING		50.732	28.942	30.208
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		122.261	100.141	85.098
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		36.010	23.280	26.154
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.525	4.525	4.525
DEFERRED TAX ASSETS		1.218	1.146	1.296
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	33.099	21.233	20.829
	Sundry Debtors	81.140	62.954	36.760
	Cash & Bank Balances	0.583	0.783	0.594
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	87.086	80.555	59.770
Total Current Assets		201.908	165.525	117.953
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	112.270	89.387	57.647
	Other Current Liabilities	3.150	1.225	1.441
	Provisions	5.980	3.723	5.742
Total Current Liabilities		121.400	94.335	64.830
Net Current Assets		80.508	71.190	53.123
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		122.261	100.141	85.098

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales and Other Income	486.620	463.440	434.919
		TOTAL	486.620	463.440	434.919
Less	EXPENSES
		Increase / (Decrease) in Stock	(5.344)	0.816	0.903
		Other Expenses	482.883	449.920	421.549
		TOTAL	477.539 (Including Financial Expenses)	450.736 (Including Financial Expenses)	422.452 (Including Financial Expenses)
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		9.081	12.703	12.467
Less/ Add	DEPRECIATION/ AMORTISATION		6.417	7.394	8.028
	PROFIT BEFORE TAX		2.664	5.309	4.439
Less	TAX		2.393	2.168	1.664
	PROFIT AFTER TAX		0.271	3.141	2.775
	Imports :
	Raw Materials and Components		35.634	19.147	17.413
	Capital Goods		0.085	0.000	5.856
	Total Imports		35.719	19.147	23.269
	Earnings Per Share (Rs.)		0.10	1.15	1.18

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.06	0.68	0.64
Return on Total Assets (PBT/Total Assets}	(%)	1.12	2.81	3.08
Return on Investment (ROI) (PBT/Networth)		0.04	0.07	0.08
Debt Equity Ratio (Total Liability/Networth)		2.41	1.73	1.73
Current Ratio (Current Asset/Current Liability)		1.66	1.75	1.82

LOCAL AGENCY FURTHER INFORMATION

BACKGROUND INFORMATION

Subject was incorporated in India on 17.09.2001 and commenced commercial production on 18.03.2002. the company is in the business of manufacturing and sale of computer monitor plastic moulded cabinets, plastic parts of refrigerator and washing machines.

Notes

The Registered office of the company has been shifted from5-31, W.E.A, Karol Bagh, New Delhi – 110005, Delhi, India to the present address w.e.f. 10.11.2006.

FINANCIAL RESULTS

The turnover and other Income of the company increased from Rs. 463.440 Millions in the previous year to Rs. 486.620 Millions in the current year under report. Profit before tax recorded an decrease from Rs. 5.309 Millions in the previous year to Rs.2.664 Millions in the current year.

PRESENT AND FUTURE OUTLOOK

The company has stated the construction of its new factory at Greater Noida on Lease hold land from GNDA with expansion of its production capacity and installation of new technology, which leads to increase in huge sales in coming years. The company has a very bright future with new technology and expansion.

Form 8

Corporate identity number (CIN) Foreign company registration number	U25206DL2001PTC112457
Name of the Company	INKOTECH (INDIA) PRIVATE LIMITED
Address	5/31, Wea, Karol Bagh, New Delhi -110005, India
This form is for	Modification of charge
Type of Charge	Immovable Property
Particulars of the charge holder	Shinhan Bank - Mercantile House, Upper Ground Floor, 15, Kasturba Gandhi Marg, New Delhi – 110001, Delhi, India E-mail : shbdb@vsnl.net
Nature or description of the instrument(s) creating or modifying the charge	Declaration Cum Confirmation Deed
Date of the instrument creating or modifying the charge	30.09.2010
Amount secured by the charge	Rs. 78.800 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of interest As Per Agreement Terms of repayment As Per Agreement Margin As Per Agreement Extent and operation of the charge Extent and Operation - 100%
Short particulars of the property charged (including location of the property)	Equitable Mortgage By Way Of First And Exclusive Charge Over Company's Immovable Property I.E. Land and Building Situated At 57/2, Ecotech-I Extn-1, Greater Noida (U.P.) Measuring 8011.93 Sqm. Together With All Buildings And Structures Thereon Or To Be Thereon And All Plant And Machinery Installed Therein Or To Be Therein.

Fixed Assets

• Leasehold land
• Leasehold Improvements
• Plant and Machinery
• Furniture and Fixtures
• Office Equipments
• Motor Vehicles

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	3
PAID-UP CAPITAL	1~10	4
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	2
--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
TOTAL		27

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.