1. Summary Information

		Country	India
Company Name	LIT (India) Private Limited	Principal Name 1	Mr. Saranjit Singh Sodhi
Status	Satisfactory	Principal Name 2	Mr. Bani Ahuja
		Registration #	55-064192
Street Address	F-20, East of Kailash, New Delhi-110065, Delhi, India
Established Date	09.01.1995	SIC Code	--
Telephone#	Not Available	Business Style 1	Manufacturer
Fax #	Not Available	Business Style 2	Dealers
Homepage	--	Product Name 1	Electronic Equipment
# of employees	Not Available	Product Name 2	Instrument
Paid up capital	Rs.1,000,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors 100.00%	Banking	Citi Bank
Public Limited Corp.	No	Business Period	16 Years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	Ba (45)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	86,679,000	Current Liabilities	39,998,000
Inventories	17,089,000	Long-term Liabilities	81,791,000
Fixed Assets	61,882,000	Other Liabilities	10,059,000
Deferred Assets	0,000	Total Liabilities	131,848,000
Invest& other Assets	0,000	Retained Earnings	32,802,000
		Net Worth	33,802,000
Total Assets	165,650,000	Total Liab. & Equity	165,650,000
Total Assets (Previous Year)	92,609,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	280,226,000	Net Profit	12,775,000
Sales(Previous yr)	135,175,000	Net Profit(Prev.yr)	6,352,000

MIRA INFORM REPORT

Report Date :

23.12.2011

IDENTIFICATION DETAILS

Name :	LIT (INDIA) PRIVATE LIMITED
Registered Office :	F-20, East of Kailash, New Delhi – 110065, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	09.01.1995
Com. Reg. No.:	55-064192
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U74899DL1995PTC064192
TAN No.: [Tax Deduction & Collection Account No.]	DELL01963D / DELL02629E
PAN No.: [Permanent Account No.]	AAACL2134R
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer of and Dealers in and as Stockists, Importers and Exporters of Lighters, Electronic Equipments and Instruments, Plastic Moulded Items and Job Work of Injection Moulding of all kinds of Engineering Material, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 140000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 :	F-20, East of Kailash, New Delhi – 110065, Delhi, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	litindia_pvtltd@yahoo.co.in
Head Office :	R-288, First Floor, Greater Kailash Part-I, New Delhi-110048, Delhi, India
Tel. No.:	91-11-41731578
Branch / Factory :	D-24, Hosiery Complex, Phase-II, District Gautam Budh Nagar, Noida-201305, Uttar Pradesh, India
Tel. No.:	91-120-4352716/ 4352726/ 2567766
Fax No.:	91-120-4352706/ 2567766
E-Mail :	litindiapvtltd@yahoo.com

DIRECTORS

AS ON 29.09.2010

Name :

Mr. Saranjit Singh Sodhi

Designation :

Director

Address:

R-12A, Hauz Khaz, New Delhi, India

Date of Appointment :

09.01.1995

DIN No.:

00425931

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL1995PTC064192	LIT (INDIA) PRIVATE LIMITED	Director	9/1/1995	9/1/1995	Active	NO
2	U74899DL1995PTC067385	MIDLAND PROMOTORS PRIVATE LIMITED	Director	10/1/1996	10/1/1996	Active	NO

Name :

Mr. Bani Ahuja

Designation :

Director

Address:

R-288, 1^st Floor, Greater Kailash Part I, New Delhi, India

Date of Appointment :

17.01.1997

DIN No.:

00427882

Name :

Mr. Surinder Sigh Sachdev

Designation :

Director

Address:

B-242, Chitranjan Park, New Delhi-110019, India

Date of Appointment :

17.01.1997

DIN No.:

00428475

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2010

Names of Shareholders	No. of Shares
Narang KR. Virendara	3333
Narang Neera	3333
Sodhi Singh Saranjit	3334
Total	10000

AS ON 29.09.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of and Dealers in and As Stockists, Importers and Exporters of Lighters, Electronic Equipments and Instruments, Plastic Moulded Items and Job Work of Injection Moulding of All Kinds of Engineering Material, Etc.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	· Citi Bank N.A, Jeevan Vihar, 4^th Floor, 124 Connaught Circus, Connaught Place, 3, Sansad Marg, New Delhi-110001, Delhi, India · HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai-400013, Maharashtra, India · The Bank of Rajasthan Limited, HS-5, Kailash Colony Market, New Delhi, Delhi, India

Banking Relations :	--
Auditors :
Name :	Gupta Rehani and Associates Chartered Accountant
Address :	18, Todar Mal Road, Bengali Market, New Delhi-110001, India
Tel. No.:	91-11-23717148/23752597

CAPITAL STRUCTURE

AS ON 31.03.2010

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
10000	Equity Shares	Rs.100/- each	Rs.1.000 Million

NOTE:

(Of the above 9900 shares are allotted as fully paid up pursuant to resolution of Board of Directors dt. 11/7/2003 without payment being recd. in cash)

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		32.802	20.027	13.676
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		33.802	21.027	14.676
LOAN FUNDS
1] Secured Loans		61.281	19.401	29.643
2] Unsecured Loans		20.510	10.994	15.662
TOTAL BORROWING		81.791	30.395	45.305
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		115.593	51.422	59.981
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		61.882	26.048	19.166
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	17.089	14.493	16.644
	Sundry Debtors	51.737	22.506	22.864
	Cash & Bank Balances	0.422	0.282	0.264
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	34.520	29.280	22.819
Total Current Assets		103.768	66.561	62.591
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	18.767	15.040	2.329
	Other Current Liabilities	21.231	17.086	13.452
	Provisions	10.059	9.061	5.995
Total Current Liabilities		50.057	41.187	21.776
Net Current Assets		53.711	25.374	40.815
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		115.593	51.422	59.981

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	269.621	128.902	134.388
		Job Work	7.515	0.000	0.000
		Other Income	3.090	6.273	2.853
		TOTAL	280.226	135.175	137.241
Less	EXPENSES
		Office Expenses
		Administrative Expenses	260.458	125.757	126.179
		Advertising Expenses
		TOTAL	260.458	125.757	126.179
	PROFIT BEFORE TAX		19.768	9.418	11.062
Less	TAX		6.993	3.066	4.019
	PROFIT AFTER TAX		12.775	6.352	7.043
	Earnings Per Share (Rs.)		127.75	63.52	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	4.56	4.70	5.13
Net Profit Margin (PBT/Sales)	(%)	7.33	7.31	8.23
Return on Total Assets (PBT/Total Assets}	(%)	11.93	12.14	15.86
Return on Investment (ROI) (PBT/Networth)		0.58	0.45	0.75
Debt Equity Ratio (Total Liability/Networth)		3.90	2.71	3.78
Current Ratio (Current Asset/Current Liability)		2.07	1.93	4.99

LOCAL AGENCY FURTHER INFORMATION

PERFORMANCE HIGHLIGHTS:-

During the 14^th year of operation the company continues to be engaged in the Job Work of Injection Moulding of All Kinds of Engineering Material at its factory D-24, Hosiery Complex, Phase-II Extension, Noida and recd. Rs.7.515 Millions as job Work. During the year the company also started selling Plastic Moulded items and the company has made a turnover from the sales of Rs.269.621 Millions at its factory D-24, Hosiery Complex, Phase-II Extension, Noida.

There is a Net Profit of Rs.19.768 Millions during the year as compared to Net Profit of Rs.9.418 Millions during the previous year ending 31/3/2009.

FORM 8:

Bankers Charges Report as per Registry

Name of the company	LIT INDIA PRIVATE LIMITED
Presented By	Mr. Saranjit Singh Sodhi, Director
1) Date and description of instrument creating the change	30.01.2006 i) agreement of hypothecation of machinery and goods ii) agreement for security of all advances and loans iii) letter of equitable mortgage of immovable property
2) Amount secured by the charge/amount owing on the securities of charge	i) 1^st charge over all present and future fixed assets of the company including plant and machinery to be purchased ii) 1^st charge on all movable property of every description including marketable securities
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	Collaterally secured by way of equitable mortgage of the company’s property i.e. land and building at D-24, Hosiery Complex, Phase-II, District Gautam Budh Nagar, Noida-201305, Uttar Pradesh, India and personal guarantee of the directors of the company
4) Gist of the terms and conditions and extent and operation of the charge.	The charge is created to secure repayment of term loan of Rs. 2.500 millions granted to the company for purchase of machinery Rate of interest-equal to BPLR, present minimum 11% per annum on monthly rests, penal interest 4% above normal rate. Repayable in 36 equal monthly installments of Rs. 0.082 millions each starting February 2006
5) Name and Address and description of the person entitled to the charge.	The Bank of Rajasthan Limited, HS-5, Kailash Colony Market, New Delhi, Delhi, India
6) Date and brief description of instrument modifying the charge	Not Applicable
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.	Not Applicable

This form is for	Creation of charge
Corporate identity number of the company	U74899DL1995PTC064192
Name of the company	LIT (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	F-20, East Of Kailash, New Delhi-110065, Delhi, India
Type of charge	Immovable Property Others
Particular of charge holder	Citi Bank N.A, Jeevan Vihar, 4^th Floor, 124 Connaught Circus, Connaught Place, 3, Sansad Marg, New Delhi-110001, Delhi, India
Email	roc@sdpa.in
Nature of description of the instrument creating or modifying the charge	Composite Goods Security Agreement. Memorandum of Entry.
Date of instrument Creating the charge	31.08.2010
Amount secured by the charge	Rs. 20.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanction terms and as may be decided by the bank and company mutually from time to time. Terms of Repayment Repayable on demand, annually renewable. Margin Borrower shall at all times during the continuance of the security maintain a sufficient amount to provide the margin of security as may from time to time advised by the bank. Extent and Operation of the charge First exclusive charge on the entire present and future movable fixed assets (including plant and machinery) belonging to the LIT India Private Limited for limits granted to LIT Plasto Tech. First exclusive charge on the immovable properties situated at (i) Plot No. B-52, Sec 88, Noida. (ii) Plot No. 24, D Block, Noida, Phase II Extn; District Ghaziabad belonging to the LIT India Private Limited for limits granted to LIT Plasto Tech. Others The charges mentioned in the clause no. 13(d) is secured in favour of Citibank N.A Delhi for the repayment of all monies in respect of the credit facility, including outstanding balance and also all interest, costs, charges and expenses.
Short particulars of the property charged	I) Entire present and future movable fixed assets (including plant and machinery) belonging to the LIT India Private Limited for limits granted to LIT Plasto Tech. II) Immovable properties situated at Plot No. 24, D Block, Noida, Phase II Extn; District Ghaziabad belonging to the LIT India Private Limited for limits granted to LIT Plasto Tech. III) Immovable properties situated at Plot No. B-52, Sec 88, Noida belonging to the LIT India Private Limited for limits granted to LIT Plasto Tech.

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.52.78
UK Pound	1	Rs.82.73
Euro	1	Rs.68.87

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.