MIRA INFORM REPORT

Report Date :

29.12.2011

IDENTIFICATION DETAILS

Name :	KODY RUBE-TECH PRIVATE LIMITED
Registered Office :	“Arvind”, 501/1, Jasodanagar Char Rasta, N.H. No. 8, P.O. Vatva, Ahmedabad – 382445, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	11.09.2009
Com. Reg. No.:	04-058099
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U25199GJ2009PTC058099
TAN No.: [Tax Deduction & Collection Account No.]	AHMK05154C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of grooved spreader roller expander, polyband expander, metal expander, rubber expander
No. of Employees :	29 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ca [11]

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively new company having moderate track. there appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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

INFORMATION PARTED BY

Name :	Mr. Deepak Deshmukh
Designation :	Sales Department
Contact No.:	91-9909982472
Name :	Mr. Chetan
Designation :	Account Department
Contact No.:	91-9909998502
Date :	22.12.2011

LOCATIONS

Registered Office /Factory :	“Arvind”, 501/1, Jasodanagar Char Rasta, N.H. No. 8, P.O. Vatva, Ahmedabad – 382445, Gujarat, India
Tel. No.:	91-79-65121345
Mobile No.:	91-9909982472 [Mr. Deepak Deshmukh]
Fax No.:	91-79-65121345
E-Mail :	accoount@kody.co.in
Website :	http://www.kody.co.in
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Sunny Vallabhbhai Patel

Designation :

Director

Address :

Kailash Bhavan, Baliyavas, Amraiwadi, Ahmedabad – 380026, Gujarat, India

Date of Birth/Age :

10.12.1988

Date of Appointment :

11.09.2009

DIN :

02721987

Other Directorship :

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	U25199GJ2009PTC058099	KODY RUBE-TECH PRIVATE LIMITED	Director	11/9/2009	11/9/2009	Active	NO
2	U29199GJ1994PTC021001	CIP MACHINERIES PVT LTD	Director	20/11/2009	20/11/2009	Active	NO

Name :

Mrs. Ashaben Subhashchandra Patel

Designation :

Director

Address :

54, Surdhara Bungalows, Near Goyal Intercity, Drive-in Road, Satellite, Thaltej, Ahmedabad – 380054, Gujarat, India

Date of Birth/Age :

21.05.1968

Date of Appointment :

11.09.2011

DIN :

02332161

Other Directorship :

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	U92199GJ1999PTC036933	BIG LION ENTERTAINMENT PRIVATE LIMITED	Director	30/09/2008	16/09/2008	Active	NO
2	U25199GJ2009PTC058099	KODY RUBE-TECH PRIVATE LIMITED	Director	11/9/2009	11/9/2009	Active	NO
3	U55101GJ2011PTC066203	BIG LION HOSPITALITY PRIVATE LIMITED	Director	5/7/2011	5/7/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. Deepak Deshmukh
Designation :	Sales Department
Name :	Mr. Chetan
Designation :	Account Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Ashaben Subhashchandra Patel	5000
Sunny Vallabhbhai Patel	5000
Total	10000

As on 30.09.2011

Equity Share Break Up Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of grooved spreader roller expander, polyband expander, metal expander, rubber expander
Products :	§ Rollers Grooved Spreader Roller Expanders Polyband Expanders Metal Expanders Rubber Expanders Shafts Mechanical Shaft Chucks Air Chuck Adapter Shaft Sleevs Safety Chuck Mechanical expanding chuck
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

GENERAL INFORMATION

Customers :	End Users
No. of Employees :	29 [Approximately]
Bankers :	Bank of Baroda, Ahmedabad, Gujarat, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Saurabh Kiri and Associates Chartered Accountants
Address :	C-13, Siddharth Park, Bhudharpura Road, Ambawadi, Ahmedabad – 380006, Gujarat, India
Tel. No.:	91-79-30002018
Mobile No.:	91-9173760629 / 9426585857 / 9099143556
Fax No.:	91-79-27541556 / 26400630
E-Mail :	Kiri_saurabh@yahoo.com
PAN :	ABYF9172Q

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs.10/- each	Rs.1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs.0.100 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		[0.693]	[0.814]
NETWORTH		[0.593]	[0.714]
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		4.490	1.965
TOTAL BORROWING		4.490	1.965
DEFERRED TAX LIABILITIES		0.000	0.026
TOTAL		3.897	1.277
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.967	1.275
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.207	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.550	0.697
	Sundry Debtors	3.190	1.428
	Cash & Bank Balances	0.104	0.333
	Other Current Assets	0.000	0.000
	Loans & Advances	0.057	0.012
Total Current Assets		3.901	2.470
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.151	2.589
	Other Current Liabilities	[0.005]	[0.084]
	Provisions	0.060	0.000
Total Current Liabilities		3.206	2.505
Net Current Assets		0.695	[0.035]
MISCELLANEOUS EXPENSES		0.028	0.037
TOTAL		2.897	1.277

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	12.775	3.083
		Other Income	0.001	0.000
		TOTAL (A)	12.776	3.083
Less	EXPENSES
		Cost of goods sold	10.999	3.471
		Administrative Expenses	0.251	0.077
		Selling and distribution Expenses	0.268	0.004
		Indirect Expenses	1.114	0.232
		TOTAL (B)	12.632	3.784
	PROFIT/[LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.144	[0.701]
Less	FINANCIAL EXPENSES		0.008	0.002
	PROFIT/[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION		0.136	[0.703]
Less/ Add	DEPRECIATION/ AMORTISATION		0.248	0.085
	PROFIT / [LOSS] BEFORE TAX		[0.112]	[0.788]
Less	TAXATION DEFERRED		0.000	0.026
Add	TAXATION DEFERRED		0.233	0.000
	PROFIT / [LOSS] AFTER TAX		0.121	[0.814]
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		[0.814]	0.000
	BALANCE CARRIED TO THE B/S		[0.693]	[0.814]
	Earnings/[Loss] Per Share (Rs.)		[12.10]	[81.43]

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	0.95	[26.40]
Net Profit Margin (PBT/Sales)	(%)	[0.88]	[25.56]
Return on Total Assets (PBT/Total Assets}	(%)	[1.63]	[21.04]
Return on Investment (ROI) (PBT/Networth)		[0.19]	[1.10]
Debt Equity Ratio (Total Liability/Networth)		[12.98]	[6.26]
Current Ratio (Current Asset/Current Liability)		1.22	0.99

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	-
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	No
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	No
Incorporation details, if applicable	-
Last accounts filed at ROC	-
Major Shareholders, if applicable	-

FIXED ASSETS :

• Plant and Machinery
• Computer
• Office Building
• Office Equipments

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.53.21
UK Pound	1	Rs.83.32
Euro	1	Rs.69.51

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	-
--CREDIT LINES	1~10	-
--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		11

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.