MIRA INFORM REPORT

Report Date :

28.12.2011

IDENTIFICATION DETAILS

Name :	JAGMOHAN PLA-MACH PRIVATE LIMITED
Registered Office :	115, Sharad Industrial Estate, Lake Road, Bhandup (West), Mumbai – 400 078, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.04.1995
Com. Reg. No.:	11-087502
Capital Investment / Paid-up Capital :	Rs. 2.583 millions
CIN No.: [Company Identification No.]	U29295MH1995PTC087502
TAN No.: [Tax Deduction & Collection Account No.]	MUMJ04668G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Plastic Blow Moulding Machines.
No. of Employees :	75 Approximately

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 142864
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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. Shyam
Designation :	Marketing Head
Contact No.:	91-9320530017
Date :	27.12.2011

LOCATIONS

Registered Office :	115, Sharad Industrial Estate, Lake Road, Bhandup (West), Mumbai – 400 078, Maharashtra, India
Tel. No.:	91-22-25955678 / 25950246 / 25965426
Mobile No.:	91-9323050017 (Mr. Nikunj Shah)
Fax No.:	91-22-25965434
E-Mail :	info@jagmohan.com vssharma44@gmail.com
Website :	www.jagmohan.com
Area :	1000 Sq. ft.
Location :	Owned
Factory :	Survey No.48, 54 and 56, Manas Mandir Road, Mumbai Nashik Highway, Taluka Shabpur, Asan Gaon (West), Thane-421301, Maharashtra, India
Area :	2 acres (Approximately)
Location :	Owned

DIRECTORS

AS ON : 30.09.2011

Name :	Mr. Jagdish H Shah
Designation :	Chairman and Managing Director
Address :	1683/16-A, Kinjalk Apartment, Dr. Ambedkar Road, Mulund (West), Mumbai – 400 080, Maharashtra, India
Date of Birth/Age :	14.01.1945
Qualification :	B.E. (Electrical Engineering)
Date of Appointment :	20.04.1995
DIN No.:	00497980

OTHER DIRECTORSHIP

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U29295MH1995PTC087502	Jagmohan Pla-Mach Private Limited	Managing director	20/04/1995	20/04/1995	-	Active	NO

Name :	Mr. Nikunj J Shah
Designation :	Director
Address :	1683/16-A, Kinjalk Apartment, Dr. Ambedkar Road, Mulund (West), Mumbai – 400 080, Maharashtra, India
Date of Birth/Age :	25.10.1978
Qualification :	B.com
Date of Appointment :	01.09.2000
DIN No.:	01650630

OTHER DIRECTORSHIP

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U29295MH1995PTC087502	Jagmohan Pla-Mach Private Limited	Director	01/09/2000	01/09/2000	-	Active	NO
2	U25200MP2011PTC026898	Vectus Containers Private Limited	Director	07/10/2011	07/10/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shyam
Designation :	Marketing Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON : 30.09.2011

Names of Shareholders	No. of Shares
Jagdish H Shah	25000
Kanchanben J Shah	40000
Nikunj J Shah	15500
Jinendra H Shah HUF	7700
Monal N Shah	138500
Ashwin A Shah	12500
Hansa A. Shah	13000
Hemlata J Shah	1300
Manoj H Shah HUF	1600
Manoj H Shah	900
Mehul J Shah	1200
Sheela M Shah	1100
Total	258300

AS ON : 30.09.2011

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

BUSINESS DETAILS

Line of Business :	Manufacturer of Plastic Blow Moulding Machines.
Products :	· Automatic Blow Moulding Machines (continuous Parison, 200 ml to 5000 ml.) · Automatic Blow Moulding Machines (With Automatic Deflashing Unit, 200 ml to 5000 ml.) · Automatic Blow Moulding Machines (Accumulator Type, 10 Ltr. to 100 Ltr.) · 'JMD' Series Double Layer, Automatic Blow Moulding Machines (10 Ltrs to 200 Ltrs.) · New 210 Ltr. Modified, Automatic Blow Moulding Machines · Automatic Blow Moulding Machines (1000 ltr. to 2000 ltr. Co-Ex Automatic · Blow Moulding Machines (Water Storage Tank-Double Layer) · D Series Automatic Blow Moulding Machines (10 Ltrs. to 200 Ltrs.) · M-Series Multi Layer Blow Moulding Machines · DC-Series Colour Blow Moulding Machines.
Exports :
Products :	Plastic Blow Moulding Machines.
Countries :	African Countries
Terms :
Selling :	L/C, Cash, Credit (30 Days)
Purchasing :	L/C, Cash, Credit (30 Days)

GENERAL INFORMATION

Customers :

· Wholesaler

· Retailers

· End User

No. of Employees :

75 Approximately

Bankers :

v Abhydaya Co-operative Bank Limited, Administrative Office, K. K. Tower, Abhyudaya Bank, Lane, Off. G. D. Ambekar Marg, Parel Village, Mumbai-400012, Maharashtra, India

v Kotak Mahindra Bank

v Citi Bank

v Standard Chartered Bank

v HDFC Bank

v Barclays Bank

Facilities :

Rs. In Millions

SECURED LOAN	31.03.2011	31.03.2010
Term Loans / Business Loans
Abhudaya Bank	46.014	40.191
Barclays Bank	0.000	0.901
Citi Bank	0.287	0.557
Kotak Mahindra Bank	0.000	0.721
Standard Chartered Bank	0.856	1.673
HDFC Bank	0.000	0.496
Car Loan
HDFC Bank	1.340	0.264
ICICI Bank	0.000	0.246
HDFC Bank	0.000	0.576
Tata Capital (hypothecation of Motor car)	1.063	0.000
Total	49.560	45.625

Banking Relations :	--
Auditors :
Name :	G C Khatri and Associates Chartered Accountants
Address :	312, Shreyas Chambers, 175, Dr. D N Road, Fort, Mumbai – 400 001, Maharashtra, India

CAPITAL STRUCTURE

AS ON : 30.09.2011

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
258300	Equity Shares	Rs. 10/- each	Rs. 2.583 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		2.583	2.583	2.495
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		33.133	31.742	25.931
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		35.716	34.325	28.426
LOAN FUNDS
1] Secured Loans		49.560	45.625	8.241
2] Unsecured Loans		0.000	0.000	4.026
TOTAL BORROWING		49.560	45.625	12.267
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
Advance from Sundry Debtors		14.435	8.924	0.000
TOTAL		99.711	88.874	40.693
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		83.712	82.590	19.818
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.116	4.571	0.931
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	121.748	102.153	66.074
	Sundry Debtors	0.000	0.000	13.902
	Cash & Bank Balances	1.333	2.262	8.918
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	55.835	43.326	27.072
Total Current Assets		178.916	147.741	115.966
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	131.206	124.681	81.668
	Other Current Liabilities	32.827	21.347	10.363
	Provisions	0.000	0.000	3.991
Total Current Liabilities		164.033	146.028	96.022
Net Current Assets		14.883	1.713	19.944
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		99.711	88.874	40.693

PROFIT & LOSS ACCOUNT

Expected Sales (2011-2012) : Rs.500.000 millions

The above information has been parted by Mr. Shyam

	PARTICULARS	31.03.2011	31.03.2010	31.03.2009
	TURNOVER	401.169	265.626	218.174
	INTEREST	8.844	1.778	1.207
	DEPRECIATION	9.655	1.418	1.396
	PROFIT BEFORE TAX	1.938	2.260	1.514
Less	TAX	0.574	0.822	0.639
	PROFIT AFTER TAX	1.364	1.438	0.875

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	0.73	0.98	1.00
Return on Investment (ROI) (PBT/Networth)		0.05	0.06	0.05
Debt Equity Ratio (Total Liability/Networth)		6.38	5.84	3.81
Current Ratio (Current Asset/Current Liability)		1.09	1.01	1.21

LOCAL AGENCY FURTHER INFORMATION

NOTE :

Registered Office of the company has been shifted from 13, Sharad Industrial Estate, 1^st Floor, Lake Road, Bhandup (West), Mumbai – 400 078, Maharashtra, India to the present address.

OPERATION

The company has achieved the turnover of RS. 401.169 millions for the year 2010-11 as against Rs. 265.626 millions for the year 2009-10.

FORM 8

Corporate identity number of the company	U29295MH1995PTC087502
Name of the company	JAGMOHAN PLA-MACH PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	13, Sharad Industrial Estate, 1^st Floor, Lake Road, Bhandup (West), Mumbai – 400 078, Maharashtra, India
This form is for	Modification of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	Abhydaya Co-operative Bank Limited, Administrative Office, K. K. Tower, Abhyudaya Bank, Lane, Off. G. D. Ambekar Marg, Parel Village, Mumbai-400012, Maharashtra, India
Nature of instrument creating charge	Hypothecation of Stock and Book-Debts Agreement
Date of instrument Creating the charge	21.10.2010
Amount secured by the charge	Rs. 35.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Rate of interest : 12% p.a. or at such other rate, as may be decided by the Bank from time to time. Terms of repayment On Demand Margin Margin : 25% Extent and operation of the charge 100% Charge by way of Hypothecation over Stocks of raw Material, Semi Finished Goods, Finished Goods and Book Debts arising out of genuine trade transactions outstanding not more than 90 days to secure the due repayment of Cash Credit facility of Rs.35.000 millions (enhanced from Rs.10.000 millions), together with interest, all costs, charges and expenses and all other monies thereon, granted by the Bank to the Company.
Short particulars of the property charged (Including location of the property)	All, present and future, Stock and Goods such as Hydraulic valves, Cylinders, Pumps, Houses, Electric Items, Timers, Counters, Limit Switches, Fuses and Buttons, etc., as particularly described in Sch to Agreement All, present and future, Book Debts of the Company
Charge identification number of the charge to be modified	90159657
Date of instrument modifying the charge	20.10.2008
Particulars of the present modification	Additional Cash Credit facility of Rs.25.000 millions, granted to the Company, aggregating in total Cash Credit facility, secured by charge of Rs. 35.000 millions enhanced from Rs.10.000 millions. The overall charge now stands at Rs.35.000 millions.

FIXED ASSETS

Ø Air Conditioners

Ø Computers

Ø Electric and Fittings

Ø EPBX

Ø Factory Building

Ø Factory Land

Ø Furniture and Fittings

Ø Fan

Ø Machinery

Ø Motor Car mh 04-

Ø Motor Car mh 04-

Ø Motor Car mh -59

Ø Motor Cycle

Ø Office Equipments

Ø Scooter

Ø Typewriter

Ø Weighing Machine

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter's background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	--
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	--
17) Major suppliers	--
18) Major customers	--
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	No
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

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.52.89
UK Pound	1	Rs.82.71
Euro	1	Rs.69.15

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

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.