MIRA INFORM REPORT

Report Date :

30.12.2011

IDENTIFICATION DETAILS

Name :	SUPREME DEVICES PRIVATE LIMITED
Registered Office :	24/12, Gali No.6, Master Mohalla, Libaspur, Samaypur Industrial Area, New Delhi-110042
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.01.1997
Com. Reg. No.:	55-84718
Capital Investment / Paid-up Capital :	Rs.2.971 Millions
CIN No.: [Company Identification No.]	U32204DL1997ULT084718
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Plastic Cutlery.
No. of Employees :	65 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 12000
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 – 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. Adip Bhandari
Designation :	Director
Contact No.:	91-9313800192
Date :	19.12.2011

LOCATIONS

Registered Office :	24/12, Gali No.6, Master Mohalla, Libaspur, Samaypur Industrial Area, New Delhi-110042, India
Tel. No.:	91-11-27839522
Mobile No.:	91-9313800192 [Mr. Adip Bhandari]
Fax No.:	91-11-27839522
E-Mail :	supremedevices1@yahoo.com
Area :	18000 sq, ft.
Location :	Owned
Factory:	1440, HSIDC Industrial Estate, Raj, Sonipet, Haryana, India
Location :	Owned

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Ashish Bhandari
Designation :	Chairman cum Managing Director
Address :	A-249/2, Derawal Nagar, Delhi-110 009, NCT of Delhi, India
Date of Birth/Age :	02.04.1973
Date of Appointment :	28.01.1997
DIN No.:	01614864
Name :	Mr. Santosh Kumar Bhandari
Designation :	Director
Address :	A-249/2, Derawal Nagar, Delhi-110 009, NCT of Delhi, India
Date of Birth/Age :	22.12.1944
Date of Appointment :	28.01.1997
DIN No.:	02848787
Name :	Mr. Adip Bhandari
Designation :	Director
Address :	A-249/2, Derawal Nagar, Delhi-110 009, NCT of Delhi, India
Date of Birth/Age :	16.07.1969
Date of Appointment :	01.05.1999
DIN No.:	02547386

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Santosh Kumar Bhandari	89870
Ashima Bhandari	31510
Ashish Bhandari	28810
Paramjeet Singh	10210
Avatar Singh	12500
Adip Bhandari	25800
Jaswant singh	37000
Shweta Bhandari	28500
Madhu Bhandari	32925
Total	297125

AS ON 30.09.2011

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

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Plastic Cutlery.
Exports :
Products :	Plastic Cutlery
Countries :	· USA · UK · Australia · Middle East · Europe
Imports :
Products :	Raw Materials
Countries :	· Singapore · Japan · Taiwan · Middle East
Terms :
Selling :	L/C / Cash and Credit [30 and 60 days]
Purchasing :	L/C / Cash and Credit [30 and 60 days]

GENERAL INFORMATION

Suppliers :

· Airlift Container Line

· Bobby Plastics

· Chawla Enterprises

· D K Polymers

· Falcon India

· Kariout Company

· Lancer Tools Private Limited

· Nipun Impex

· Om Enterprises

· Rattan Hose

· Total Solutions

· Sindhu Impex

· Sai Kripa Plastics

Customers :

Wholesalers, Retailers and End Users

· Basel

· Bhandari Tools

· Container Corporation

· Dynamic Engineer

· Geotech Engineer

· Paper Mahal

· Nitin Polymers

· Ramesh Plawstic House

· Rukmini Enterprises

· Neelam Enterprises

No. of Employees :

65 [Approximately]

Bankers :

· Bank of Baroda, Model Town, New Delhi-110009, India

· Small Industries Development Bank of India, Videocon Tower, E-1, Ground Floor, Rani Jhansi Road, Jhandewalan Extension, New Delhi-110055, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
From Bank ODP Limit	19.173	11.674
Total	19.173	11.674
Unsecured Loan
From Shareholders	4.917	4.386
Total	4.917	4.386

Banking Relations :	--
Auditors :
Name :	Aggarwal Vineeta and Company Chartered Accountants
Address :	406-A, Indraprastha Tower, 6 Commercial Complex, Wazirpur, Delhi-110 052, India
Pan No.:	AAAFA9155G

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
297125	Equity Shares	Rs.10/- each	Rs.2.971 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		2.971	2.971	2.971
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.249	0.234	0.043
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.220	3.205	3.014
LOAN FUNDS
1] Secured Loans		19.173	11.674	11.601
2] Unsecured Loans		4.917	4.386	0.000
TOTAL BORROWING		24.090	16.060	11.601
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		27.310	19.265	14.615
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.146	7.060	6.932
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	8.315	6.936	4.007
	Sundry Debtors	13.716	9.820	9.252
	Cash & Bank Balances	0.952	0.446	0.184
	Other Current Assets	1.370	1.679	1.580
	Loans & Advances	0.773	0.000	0.916
Total Current Assets		25.126	18.881	15.939
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4.866	6.441	7.963
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.096	0.235	0.293
Total Current Liabilities		4.962	6.676	8.256
Net Current Assets		20.164	12.205	7.683
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		27.310	19.265	14.615

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	25.195	39.036	38.804
		Other Income
		TOTAL	25.195	39.036	38.804
Less	EXPENSES
		Office Expenses
		Administrative Expenses	25.170	37.687	37.797
		Advertising Expenses
		TOTAL	25.170	37.687	37.797
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		NA	1.349	1.007
Less/ Add	DEPRECIATION/ AMORTISATION		NA	1.081	0.907
	PROFIT BEFORE TAX		0.025	0.268	0.100
Less	TAX		0.009	0.077	0.051
	PROFIT AFTER TAX		0.016	0.191	0.049
	Earnings Per Share (Rs.)		0.05	0.64	0.16

Expected Sales (2011-12): Rs.40.000 Millions.

The above information has been parted by Mr. Adip Bhandari.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.06	0.49	0.13
Return on Total Assets (PBT/Total Assets}	(%)	0.08	1.03	0.44
Return on Investment (ROI) (PBT/Networth)		0.01	0.08	0.03
Debt Equity Ratio (Total Liability/Networth)		9.02	7.09	6.59
Current Ratio (Current Asset/Current Liability)		5.06	2.83	1.93

LOCAL AGENCY FURTHER INFORMATION

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	No
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	Yes
15) Capital in the business	No
16) Details of sister concerns	No
17) Major suppliers	Yes
18) Major customers	Yes
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	Yes
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	--

FINANCIAL RESULTS:

The turnover during the current year Rs.25.195 Millions has decreased as compared to previous year Rs.39.036 Millions mainly due to lower demand. The directors of the company hope for further improvement in the situation during the current financial year.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U32204DL1997ULT084718
Name of the company	SUPREME DEVICES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	24/12, Gali No.6, Master Mohalla, Libaspur, Samaypur Industrial Area, New Delhi-110042, India
Type of charge	Immovable Property
Particular of charge holder	Small Industries Development Bank of India, Videocon Tower, E-1, Ground Floor, Rani Jhansi Road, Jhandewalan Extension, New Delhi-110055, India
Email	manilal@sidbi.in
Nature of description of the instrument creating or modifying the charge	Term Loan Limit - cum - Hypothecation Agreement dated March 08, 2011 executed by the company in favour of SIDBI for creation of charge on movable assets of the company acquired / to be acquired, both present and future under the Financial Assistance for Rs.1.500 Millions under Privileged Customer Scheme of SIDBI.
Date of instrument Creating the charge	08.03.2011
Amount secured by the charge	Rs.1.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 11.50% p.a. for Term Loan of Rs.1.500 Millions, rising or falling therewith, with monthly rests on the principal amt of the Loan O/s from time to time. Terms of Repayment TL of Rs.1.500 Millions shall be repaid by the Borrower to SIDBI in 48 monthly instl. comprising Rs.0.031 million each, commencing after a moratorium of 1 (one) month from the date of first disbursement of the assistance. Extent and Operation of the charge The charge operates as a first charge on the movable properties of the company both present and future, acquired / to be acquired in favour of SIDBI to secure the due repayment and discharge by the company to SIDBI of its Financial Assistances of Rs.1.500 Millions together with all dues payable in terms of Letter of Intent dated March 07, 2011 / Term Loan Limit - cum - Hypothecation Agreement dated March 08, 2011 / Terms and Conditions of Sanction, as may be amended / modified from time to time. Others The Financial Assistance by way of Term Loan is also inter alia secured by Personal guarantee(s) of Mr. Santosh Bhandari, Mr. Adip Bhandari and Mr. Ashish Bhandari.
Short particulars of the property charged	First charge by way of hypothecation on all the movable assets, acquired to be acquired out of proposed loan limit. Extension of first charge by way of hypothecation of all movable assets, including Plant and Machinery and Equipment, Miscellaneous fixed assets, furniture and fixtures, etc. both present and future, Whether installed or not and whether now lying loose at 24/12, Gali No.6, Master Mohalla Libaspur, Samypur Industrial Area, Delhi-110042 or Plot No.1440, HSIIDC Industrial Estate, Rai, Dist (Sonepat), Haryana-131029 acquired/ to be acquired under the previous SIDBI term loans of Rs. 1.535 Millions, and Rs.1.385 Millions in such form as may be required by SIDBI subject to prior charges to be created in Favour of the company's bankers on current assets of the company as may be agreed to by SIDBI for securing the borrowing for working capital requirement.

FIXED ASSETS:

· Computer

· Air Conditioner

· Scooter

· Generator

· Office Equipments

· Plant and Machinery

· Furniture

· Motor Cycle

· Building

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.53.35
UK Pound	1	Rs.82.50
Euro	1	Rs.68.99

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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		26

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.