MIRA INFORM REPORT

Report Date :

09.11.2011

IDENTIFICATION DETAILS

Name :	MILLENIUM MARBLES PRIVATE LIMITED (w.e.f. 03.05.1999)
Formerly Known As :	MANSI MARBLES PRIVATE LIMITED
Registered Office :	Airport Service Road, Western Express Highway, Vile Parle (East), Mumbai – 400099, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.03.1999
Com. Reg. No.:	11-119022
Capital Investment / Paid-up Capital :	Rs.24.200 Millions
CIN No.: [Company Identification No.]	U51909MH1999PTC119022
TAN No.: [Tax Deduction & Collection Account No.]	MUMM22739D/ MUMM19215A
PAN No.: [Permanent Account No.]	AABCM6102F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Marble Granites and Tiles.
No. of Employees :	Not divulged by the management

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 120000
Status :	Moderate
Payment Behaviour :	Slow but correct
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 but correct. The company can be considered for business dealings with some caution.

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

INFORMATION DECLINED BY

Management Non Co-operative.

LOCATIONS

Registered Office :	Airport Service Road, Western Express Highway, Vile Parle (East), Mumbai – 400099, Maharashtra, India
Tel. No.:	91-22-26631602/ 26175646/ 26177546
Fax No.:	91-22-26631602/ 26347148
E-Mail :	agarwalrajendra@hotmail.com info@milleniummarble.com
Website :	http://www.milleniummarble.com

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Rajendra Agarwal

Designation :

Director

Address :

Airport Service Road, Western Express Highway, Vile Parle (East), Mumbai – 400099, Maharashtra, India

Date of Birth/Age :

18.12.1959

Date of Appointment :

22.03.1999

DIN No.:

00145598

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	U14102KA1991PTC011928	SINGHAL GRANITES PRIVATE LIMITED	Director	02-05-91	02-05-91	Active	NO
2	U51909MH1999PTC119022	MILLENIUM MARBLES PRIVATE LIMITED	Director	22-03-99	22-03-99	Active	NO
3	U18101KA1990PTC011086	NAWKA GRANITES PRIVATE LIMITED	Director	04-04-06	04-04-06	Active	NO
4	U35110MH1998PTC115020	SLB ENERGY PRIVATE LIMITED	Director	24-04-06	24-04-06	Active	NO
5	U36912MH1989PTC051212	MATRA HOMELAND PRIVATE LIMITED	Director	30-06-06	30-06-06	Active	NO
6	U26932MH2008PTC180623	KARGWAL ENTERPRISES PRIVATE LIMITED	Director	31-03-08	31-03-08	Active	NO

Name :

Mr. Pramod Gupta

Designation :

Director

Address :

Airport Service Road, Western Express Highway, Vile Parle (East), Mumbai – 400099, Maharashtra, India

Date of Birth/Age :

04.07.1958

Date of Appointment :

12.08.2002

DIN No.:

00349626

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	U51909MH1999PTC119022	MILLENIUM MARBLES PRIVATE LIMITED	Director	12-08-02	12-08-02	-	Active	NO
2	U27109HR1987PTC029903	SIMPLEX ALLOYS PRIVATE LIMITED	Director	09-12-02	09-12-02	08-01-09	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Suresh Agarwal (HUF)	60000
Bela Agarwal	892500
Amita Agarwal	192500
Rajendra Agarwal	732500
Vinita Agarwal	442500
S D Agarwal (HUF)	20000
Pitamber Agarwal	80000
Total	2420000

(AS ON 28.10.2011)

Names of Allottees	No. of Shares Allotted
Ziwani Barter Private Limited, India	125000
Sthirlakshmi Merchantile Private Limited, India	125000
Punya Leather Private Limited, India	125000
Mubarak Lubricant Private Limited, India	125000
Total	500000

(AS ON 30.09.2011)

Equity Shares Break –up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Marble Granites and Tiles.

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Actual Production
Stone Slabs	Sq. mt.	39986.02

GENERAL INFORMATION

No. of Employees :

Not divulged by the management

Bankers :

· Punjab National Bank

International Banking Branch, 265, Birya House, Bazargate Road, Fort, Mumbai – 400001, Maharashtra, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Vehicles Loan (Secured by an exclusive charge by way of hypothecation of vehicles purchased under the said agreement)	6.960	1.480
Secured Loans from Banks (Secured by Hypothecation of Present and Future Inventories, Book Debts of the company and personal Guarantee of Directors)	40.470	28.220
Total	47.430	29.700
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Body Corporate	12.000	0.000
From Others	0.000	0.000
Total	12.000	0.000

Banking Relations :	--
Auditors :
Name :	R. K. Malpani and Associates Chartered Accountant
Address :	103-A, Shyam Anukampa, O-11, Ashok Marg, C-Scheme, Jaipur – 302001, Rajasthan, India
PAN No.:	AABFR2190M
Tel No.:	91-141-2364313/ 2364513
Fax No.:	91-141-2364413
Email :	rkmalpanica@hotmail.com

CAPITAL STRUCTURE

(AS ON 02.06.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Share	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2920000	Equity Share	Rs.10/- each	Rs.29.200 Millions

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Share	Rs.10/- each	Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2420000	Equity Share	Rs.10/- each	Rs.24.200 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		24.200	24.200	24.200
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		6.849	5.912	5.023
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		31.049	30.112	29.223
LOAN FUNDS
1] Secured Loans		47.430	29.700	27.046
2] Unsecured Loans		12.000	0.000	7.710
TOTAL BORROWING		59.430	29.700	34.756
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		90.479	59.812	63.979
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		9.861	3.763	4.540
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.442	0.326	0.317
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	37.575	32.849	24.380
	Sundry Debtors	86.909	45.253	51.713
	Cash & Bank Balances	3.671	3.602	4.308
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	9.283	13.672	7.076
Total Current Assets		137.438	95.376	87.477
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	56.776	37.018	21.994
	Other Current Liabilities	0.486	2.635	6.372
	Provisions	0.000	0.000	0.000
Total Current Liabilities		57.262	39.653	28.366
Net Current Assets		80.176	55.723	59.111
MISCELLANEOUS EXPENSES		0.000	0.000	0.011
TOTAL		90.479	59.812	63.979

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	255.709	189.919	110.508
		Other Income	0.271	1.363	0.962
		TOTAL (A)	255.980	191.282	111.470
Less	EXPENSES
		Increase/ (Decrease) in Stock	(1.495)	(6.002)	4.401
		Raw Materials Consumed	217.705	160.701	83.988
		Operating Expenses	7.927	17.060	6.746
		Administrative and Other Expenses	22.219	12.243	11.175
		TOTAL (B)	246.356	184.002	106.310
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		9.624	7.280	5.160
Less	FINANCIAL EXPENSES (D)		6.186	5.580	3.914
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.438	1.700	1.246
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.953	0.412	0.479
	PROFIT BEFORE TAX (E-F) (G)		1.485	1.288	0.767
Less	TAX (H)		0.465	0.398	0.323
	PROFIT AFTER TAX (G-H) (I)		1.020	0.890	0.444
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		5.912	5.022	4.596
Less	PREVIOUS YEAR ADJUSTMENTS ACCOUNTS		0.084	0.000	0.018
	BALANCE CARRIED TO THE B/S		6.848	5.912	5.022
	IMPORTS VALUE		0.091	0.097	0.073
	Earnings Per Share (Rs.)		0.42	0.37	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.40	0.47	0.40
Net Profit Margin (PBT/Sales)	(%)	0.58	0.68	0.69
Return on Total Assets (PBT/Total Assets}	(%)	1.09	1.30	0.83
Return on Investment (ROI) (PBT/Networth)		0.05	0.04	0.03
Debt Equity Ratio (Total Liability/Networth)		3.76	2.30	2.16
Current Ratio (Current Asset/Current Liability)		2.40	2.41	3.08

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011	31.03.2010	31.03.2009
	(Rs. In Millions)
Sundry Creditors
- Goods	55.556	32.339	17.248
- Expenses and Others	1.220	4.679	4.746
Total	56.776	37.018	21.994

FORM 8:

Corporate identity number of the company	U51909MH1999PTC119022
Name of the company	MILLENIUM MARBLES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Airport Service Road, Western Express, Vile Parle (East), Mumbai – 400099, Maharashtra, India agarwalrajendra@hotmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10200367
Type of charge	Others: Agreement of guarantee
Particular of charge holder	Punjab National Bank International Banking Branch, 265, Birya House, Bazargate Road, Fort, Mumbai – 400001, Maharashtra, India jpscs2007@gmail.com
Nature of instrument creating charge	Agreement of guarantee for the credit facilities of Rs.347.500 Millions sanctioned to Kargwal Enterprises Private Limited dated 30.9.11
Date of instrument Creating the charge	30.09.2011
Amount secured by the charge	Rs.347.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interests: By this agreement of guarantee, the company has given corporate guarantee to secure Bank for the credit facilities sanctioned to Kargwal Enterprises Private Limited Terms of Repayment: By this agreement of guarantee, the company has given corporate guarantee to secure Bank for the credit facilities sanctioned to Kargwal Enterprises Private Limited Margin: By this agreement of guarantee, the company has given corporate guarantee to secure Bank for the credit facilities sanctioned to Kargwal Enterprises Private Limited Extent and Operation of the charge: Rs.347.500 Millions and Operation of Charge on Corporate Guarantee to repay to Punjab National Bank IBB, Fort, Mumbai -1 for the credit facilities / loan of Rs.347.500 Millions sanctioned to Kargwal Enterprises Private Limited
Particulars of the property charged	Corporate Guarantee to repay to Punjab National Bank IBB, Fort, Mumbai -1 for the credit facilities / loan of Rs.347.500 Millions sanctioned to Kargwal Enterprises Private Limited
Particulars of the present modification	By this submission, the Company has extended Corporate Guarantee to secure and repay to Punjab National Bank IBB, Fort, Mumbai -1 for the credit facilities / loan of Rs.347.500 Millions (enhanced) sanctioned to Kargwal Enterprises Private Limited

FIXED ASSETS:

· Factory Building

· Plant and Machinery

· Electrical Installation

· Office Equipments

· Computers

· Vehicles

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.49.38
UK Pound	1	Rs.79.20
Euro	1	Rs.67.84

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		32

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.