MIRA INFORM REPORT

Report Date :

30.12.2011

IDENTIFICATION DETAILS

Name :	MICROTEK INTERNATIONAL PRIVATE LIMITED
Registered Office :	G 11, Udyog Nagar, Main Rohtak Road, Delhi – 110041
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	19.07.1989
Com. Reg. No.:	55-036999
Capital Investment / Paid-up Capital :	Rs.2.500 Millions
CIN No.: [Company Identification No.]	U74899DL1989PTC036999
TAN No.: [Tax Deduction & Collection Account No.]	DELM08419F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Power Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 690000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payment 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 :	G 11, Udyog Nagar, Main Rohtak Road, Delhi – 110041, India
Tel. No.:	91-11-25477685
Fax No.:	91-11-25472907
E-Mail :	ho@microtekdirect.com psgurleensoni@yahoo.com
Website :	http://www.microtekdirect.com
Branches :	Located at : Agra Aurangabad Ahmedabad Allahabad

DIRECTORS

As on 26.09.2011

Name :

Mr. Nand Kishore Aggarwal

Designation :

Director

Address :

12/22, East Punjab Bagh, New Delhi – 110026, India

Date of Birth/Age :

02.12.1948

Date of Appointment :

19.07.1989

DIN No.:

00172520

Other Directorship :

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
U19201DL1987PTC026643	Nikhil Footwears Private Limited	Director	18/07/1989	18/07/1989	-	Active	NO
U74899DL1989PTC036999	Microtek International Private Limited	Director	19/07/1989	19/07/1989	-	Active	NO
U74899DL1985PTC020225	Kabeer Textiles Private Limited	Director	20/07/1991	20/07/1991	-	Active	NO
U74899DL1995PTC070133	Imarat Properties Private Limited	Director	21/09/1995	21/09/1995	27/04/2009	Active	NO
U17115DL1990PTC042209	Garg Polyspin Private Limited	Director	28/08/1996	28/08/1996	-	Active	NO
U74899DL2000PLC105541	Microtek Infosoft Limited. (Part Ix )	Director	4/05/2000	4/05/2000	-	Active	NO
U74899DL2000PLC106915	Dreamz International Limited	Director	20/07/2000	20/07/2000	-	Active	NO
U74899DL2001PTC109155	Global Technoplast Private Limited	Director	30/05/2001	30/05/2001	-	Active	NO
U27109DL2004PTC127305	Action Ispat And Power Private Limited	Director	1/07/2004	1/07/2004	-	Active	NO
U27101DL2004PTC129773	A P I Ispat And Powertech Private Limited	Director	8/10/2004	8/10/2004	-	Active	NO
U20299DL2006PTC154186	Balaji Action Wooddecor Private Limited	Director	22/09/2006	22/09/2006	-	Active	NO
U17303DL2005PTC134427	Pioneer Polyleathers Private Limited	Director	8/12/2006	8/12/2006	-	Active	NO
U72300DL2007PTC160025	Action infosoft Private Limited	Director	2/03/2007	2/03/2007	-	Active	NO
U36912DL2007PTC169098	Action Wood Products Private Limited	Director	8/10/2007	8/10/2007	-	Active	NO
U45200DL2008PTC184066	Action Infraprojects Private Limited	Director	25/07/2009	1/07/2009	-	Active	NO
U24110DL2009PTC190014	Action Petrochem Private Limited	Director	1/11/2010	7/07/2009	-	Active	NO
U45201DL2008PTC184716	Action Infradevelopers Private Limited	Director	22/09/2010	26/11/2009	-	Active	NO
U45400DL2008PTC183567	Action Infraestate Developers Private Limited	Director	23/09/2010	22/02/2010	-	Active	NO

Name :

Mr. Om Prakash Gupta

Designation :

Director

Address :

3/4, East Punjab Bagh, New Delhi – 110026, India

Date of Birth/Age :

13.12.1940

Date of Appointment :

19.07.1989

DIN No.:

00262326

Other Directorship :

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
U74899DL1989PTC036999	Microtek International Private Limited	Director	19/07/1989	19/07/1989	-	Active	NO
U74899DL1995PLC072275	Microtek Leasing and Finance Limited	Director	8/09/1995	8/09/1995	-	Active	NO
U17115DL1990PTC042209	Garg Polyspin Private Limited	Director	28/08/1996	28/08/1996	-	Active	NO
U74899DL2000PLC105541	Microtek Infosoft Limited. (Part Ix )	Director	4/05/2000	4/05/2000	-	Active	NO
U74899DL1987PLC028737	Okaya Power Limited	Whole-time director	1/04/2008	8/03/2002	-	Active	NO
U72200DL2005PLC136705	Microtek Infocom Limited	Director	26/05/2005	26/05/2005	-	Active	NO
U40101DL2005PTC136706	Okaya Energy Systems Private Limited	Director	26/05/2005	26/05/2005	-	Active	NO
U45201DL2005PTC142854	Vikas Jagan Developers Private Limited	Director	23/11/2005	23/11/2005	-	Active	NO
U70109DL2006PTC151876	Arush Projects Private Limited	Director	10/08/2006	10/08/2006	-	Active	NO
U70109DL2006PTC152229	Monika Projects Private Limited	Director	19/08/2006	19/08/2006	-	Active	NO
U72900DL2006PTC152566	Saurabh Infratech Private Limited	Director	26/08/2006	26/08/2006	-	Active	NO
U45200DL2006PTC154036	Anshul Projects Private Limited	Director	19/09/2006	19/09/2006	-	Active	NO
U45200DL2006PTC154044	Deepanshu Projects Private Limited	Director	19/09/2006	19/09/2006	19/06/2010	Active	NO
U72900DL2009PTC196180	Incognito Software Private Limited	Director	19/11/2009	19/11/2009	-	Active	NO
U74999DL2009PTC196226	Armon Software Private Limited	Director	20/11/2009	20/11/2009	-	Active	NO
U72900DL2009PTC196410	Terrestrial Software Private Limited	Director	26/11/2009	26/11/2009	-	Active	NO
U70102DL2011PTC221626	Argon Properties Private Limited	Director	28/06/2011	28/06/2011	-	Active	NO
U70109DL2011PTC221789	Oxifresh Real Developers Private Limited	Director	1/07/2011	1/07/2011	-	Active	NO
U70100DL2011PTC221796	Million Milles Buildwell Private Limited	Director	1/07/2011	1/07/2011	-	Active	NO
U70109DL2011PTC222173	Kiro Builders Private Limited	Director	12/07/2011	12/07/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2011

Names of Shareholders	No. of Shares
Nand Kishore Aggarwal	7500
Om Prakash Gupta	22500
Subhash Chand Aggarwal	5000
Asha Devi	7500
Vinod Kumari	7500
Deepika Jain	2500
Rajesh Gupta	10000
Subodh Gupta	10000
Poonam Gupta	16500
Anil Gupta	10000
Saroj Gupta	16500
Anita Gupta	10000
Bimla Devi Gupta	9500
Arush Gupta	10000
Rekha Aggarwal	10000
Shaloo Jyotiprasad Aggarwal	11000

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Power Products.

Products :

Item Code No. (ITC Code)	Product Description
084712000	Digital Automatic Data Processing Machine
085040000	Electric Machines and Apparatus (UPS/ Inverter)
085180000	Multimedia Computer Loud Speakers

GENERAL INFORMATION

Customers :

· Ajex and Turner Wiredye Company

· Assistant Commissioner Customs Division

· Association of State Road Transport Undertakings

· B.H.E.L – Haridwar

· Bank of India

· CMC Limited

· HCL Infosystems Limited

· Indian Air Force

· ITI Limited

· National Research Centre for Agro Forestry

· Reserve Bank of India

· Satyam Textiles

· Spanco Telesystems and Solutions Limited

· Tata Power Company Limited

· Sujata Exports

No. of Employees :

Not Available

Bankers :

State Bank of Bikaner and Jaipur, Lawrence Road, Industrial Area, Delhi – 110035, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working Capital Loans	260.660	90.296
Total	260.660	90.296
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working Capital Loans	65.544	29.242
Total	65.544	29.242

Banking Relations :	--
Auditors :
Name :	Brijendra and Company Chartered Accountants
Address :	76, Daryaganj, New Delhi – 110002, Delhi, India
PAN.:	AADPJ6418Q

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 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		2.500	2.500	2.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		171.617	147.677	142.805
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		174.117	150.177	145.305
LOAN FUNDS
1] Secured Loans		260.660	90.296	43.121
2] Unsecured Loans		65.544	29.242	0.000
TOTAL BORROWING		326.204	119.538	43.121
DEFERRED TAX LIABILITIES		1.490	1.419	0.000
TOTAL		501.811	271.134	188.426
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		43.027	36.065	34.859
Capital work-in-progress		138.573	97.686	53.546
INVESTMENT		0.398	0.398	0.398
DEFERREX TAX ASSETS		0.000	0.000	3.365
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	615.824	228.901	138.460
	Sundry Debtors	431.445	312.489	212.250
	Cash & Bank Balances	41.796	46.458	31.951
	Other Current Assets	52.044	28.113	0.000
	Loans & Advances	246.533	56.792	49.185
Total Current Assets		1387.642	672.753	431.846
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	974.357	444.608
	Other Current Liabilities	79.772	85.010	328.808
	Provisions	13.700	6.150	6.780
Total Current Liabilities		1067.829	535.768	335.588
Net Current Assets		319.813	136.985	96.258
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		501.811	271.134	188.426

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	3864.255	2778.387	1927.399
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES
		Office Expenses	NA	NA	NA
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		60.304	23.005	16.647
Less	FINANCIAL EXPENSES (D)		18.891	4.620	1.713
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		41.413	18.385	14.934
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.694	2.570	2.038
	PROFIT BEFORE TAX (E-F) (G)		37.719	15.815	12.896
Less	TAX (H)		13.779	10.942	7.064
	PROFIT AFTER TAX (G-H) (I)		23.940	4.873	5.832
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.177	0.304	0.470
Less	APPROPRIATIONS
		Transfer to General Reserve	24.000	5.000	5.998
	BALANCE CARRIED TO THE B/S		0.117	0.177	0.304
	Earnings Per Share (Rs.)		95.76	19.49	23.33

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	0.98	0.57	0.67
Return on Total Assets (PBT/Total Assets}	(%)	2.64	2.23	2.76
Return on Investment (ROI) (PBT/Networth)		0.22	0.11	0.09
Debt Equity Ratio (Total Liability/Networth)		8.01	4.36	2.61
Current Ratio (Current Asset/Current Liability)		1.30	1.26	1.29

LOCAL AGENCY FURTHER INFORMATION

Operations

During the year, the Company have achieved Sale turnover of Rs.3864.255 Millions as against the sale turnover of Rs.2778.387 Millions in the previous year and earned a net profit of Rs.37.719 Millions as against a net profit of Rs.15.815 Millions in the previous year.

FORM 8

Corporate identity number of the company	U74899DL1989PTC036999
Name of the company	MICROTECK INTERNATIONAL PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	G 11, Udyog Nagar Main Rohtak Road, Delhi, 110041, India Email Id : ho@microtekdirect.com
This form is for	Modification of Charge
Charge identification (ID) number of the charge to be modified	80046480
Type of charge	Immovable Property Book Debts Movable Property Floating Charge
Particular of charge holder	State Bank of Bikaner and Jaipur, Lawrence Road, Industrial Area, Delhi 110035, India Email Id : sbbj10355@sbbj.co.in
Nature of instrument creating charge	Letter regarding the grant of individual limits within the overall limit Agreement of loan for overall limit Agreement of hypothecation of goods and Assets.
Date of instrument Creating the charge	24.09.2010
Amount secured by the charge	Rs.593.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 3% above base rate i.e. 10.75% p.a. with monthly rests, subject to change from time to time Terms of repayment Payable on demand Margin As per Agreement Extent and operation of the charge 100% Other The above is to secure the following- Cash credit limit of Rs.300.000 Million with sub limit against book debts of Rs.90.000 Million and sub limit of drawings against clearing of Rs.10.000 Million Letter of credit limit of Rs.290.000 Million Bank guarantee limit of Rs.30.000 Million Aggregate limit of Rs.593.000 Million
Short particulars of the property or asset(s) charged (including complete address and location of the property)	i) All present and future current and fixed Assets of the company ii) Equitable Mortgage on immoveable property of the company situated at shop no. 103 at First Floor, Pragati house, 47-48, Nehru place, New Delhi Admeasuring 664 Sq feet iii) Equitable Mortgage on immoveable property of the company situated at shop no.104 at, First Floor, Pragati house, 47-48, Nehru place, New Delhi Admeasuring 544 Sq feet iv) Equitable Mortgage on immoveable property of the company situated at basement No. B-10, 104, Hemkunt towers, 98, Nehru Place, New Delhi Admeasuring 898 Sq feet. v) Equitable Mortgage on immoveable property of the company situated at G-7, Masjid Moth, G.K. Part II, New Delhi
Date of instrument modifying the charge	31.12.2009
Particulars of the present modification	Extent of charge over the entire fixed and current Assets of the company and equitable mortgage of the properties shall cover the entire enhanced aggregate limit of Rs.593.000 Million of the company

FIXED ASSETS

• Land
• Buildings
• Plant and Machinery
• Computers
• Moulds
• Photocopier
• Vehicles
• Air Conditioners
• Electric Installation
• Furniture and Fixtures
• Office Equipment
• EPABX
• Fax Machine
• Weighing Machine
• Coolers

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.53.36
UK Pound	1	Rs.82.51
Euro	1	Rs.68.99

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	6
--LEVERAGE	1~10	6
--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		48

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.