MIRA INFORM REPORT

Report Date :

06.07.2011

IDENTIFICATION DETAILS

Name :	KRYSTAL FIBROTECH PROJECTS PRIVATE LIMITED
Registered Office :	H. No. 3, Bijendra Nagar Market, Main Road, Khaicharipur, Opposite Reliance Fresh, Delhi – 110091
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	28.01.2010
Com. Reg. No.:	55-198379
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U25200DL2010PTC198379
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, service providing, and exporter of exclusive range of industrial storage tanks, industrial pipes and fittings, and pollution control equipment.
No. of Employees :	22 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ca (15)

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 :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new company and yet to established itself gradually. Business is active. Payment terms are unknown. 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 – 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. Satish Kumar Singh
Designation :	Director
Contact No.:	91-9810215512
Date :	04.07.2011

LOCATIONS

Registered Office :	H. No. 3, Bijendra Nagar Market, Main Road, Khaicharipur, Opposite Reliance Fresh, Delhi – 110091, India
Mobile No.:	91-9810215512 [Mr. Satish]
E-Mail :	kpcindustries@rediffmail.com
Factory :	D-19, Meerut Road Industrial Area, Ghaziabad – 201001, Uttar Pradesh, India
Tel. No.:	91-120-2700973 / 4558303
Fax No.:	91-120-2700973

DIRECTORS

(AS ON 30.09.2010)

Name :	Mr. Satish Kumar Singh
Designation :	Director
Address :	SF1 386, Sector 4, Vaishali, Ghaziabad – 201001, Uttar Pradesh, India
Date of Birth/Age :	02.02.1974
Date of Appointment :	28.01.2010
DIN No.	02286353
Name :	Ms. Anju Singh
Designation :	Director
Address :	SF1 386, Sector 4, Vaishali, Ghaziabad – 201001, Uttar Pradesh, India
Date of Birth/Age :	11.10.1980
Date of Appointment :	28.01.2010
DIN No. :	02571170

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
Mr. Satish Kumar Singh	5000
Ms. Anju Singh	5000
TOTAL	10000

(AS ON 30.09.2010)

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, service providing, and exporter of exclusive range of industrial storage tanks, industrial pipes and fittings, and pollution control equipment.

GENERAL INFORMATION

No. of Employees :	22 [Approximately]
Bankers :	Canara Bank, Ghaziabad Branch

Banking Relations :	--
Auditors :
Name :	Anish Agarwal and Associates Chartered Accountants
Address :	SD-263, Shastri Nagar, Ghaziabad – 201002, Uttar Pradesh, India
PAN No. :	ABZPA4482G

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Share	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Share	Rs. 10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.007)
NETWORTH		0.093
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.093
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.037
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.024
	Sundry Debtors	0.000
	Cash & Bank Balances	0.078
	Other Current Assets	0.000
	Loans & Advances	0.026
Total Current Assets		1.128
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.068
	Other Current Liabilities	0.029
	Provisions	0.000
Total Current Liabilities		1.097
Net Current Assets		0.031
MISCELLANEOUS EXPENSES		0.025
TOTAL		0.093

Note : As claimed by the management that, the subject company has started their commercial activity from April - 2010

Expected Sales (2010-2011) : Rs. 14.500 Millions

The above information has been parted by Mr. Satish Kumar Singh [Director].

KEY RATIOS

PARTICULARS	31.03.2010
Debt Equity Ratio (Total Liability/Networth)	11.80
Current Ratio (Current Asset/Current Liability)	1.03

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL PERFORMANCE

The Directors in spite of their best efforts have not been able to bring the company into business operations. Expenses to the tune of Rs. 0.007 Million incurred during the period have been incurred and shown in the Balance Sheet as Debit balance in Profit and Loss A/c.

FUTURE PROSPECTS

The directors assure that business operations will be started very soon and hope that the results in the current year will be better.

FIXED ASSETS

· Fixture and furniture

· Plant and machinery

· Tools

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 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.44.49
UK Pound	1	Rs.71.24
Euro	1	Rs.64.39

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	2
--RESERVES	1~10	-
--CREDIT LINES	1~10	2
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		15

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.