MIRA INFORM REPORT

Report Date :

09.11.2011

IDENTIFICATION DETAILS

Name :	UNITED COMPOSHEETS PRIVATE LIMITED
Registered Office :	F-29, Sector-7, Brahma Apartment, Dwarka, New Delhi – 110075
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	01.06.1998
Com. Reg. No.:	55-094191
Capital Investment / Paid-up Capital :	Rs.2.000 Millions
CIN No.: [Company Identification No.]	U99999DL1998PTC094191
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Electrical, Electronic and Automotive Applications.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 31000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered for small to mediocre 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 :	F-29, Sector-7, Brahma Apartment, Dwarka, New Delhi – 110075, Delhi, India
Tel No.:	91-120-2675388
Fax No.:	91-120-2675965
E-Mail :	carishikapoorroc@yahoo.co.in sainirahul007@rediffmail.com rahulsainiandcompany@gmail.com info@unitedcomposheet.com
Website :	www.unitedcomposheet.com
Plant Location :	8 K.M Milestone, Opposite Manan Dham, Meerut Road, Ghaziabad – 201009, Uttar Pradesh, India
Tel. No.:	91-120-2675388 / 2675801
Fax No.:	91-120-2675964
E-Mail :	egg@unitedcomposheet.com

DIRECTORS

(AS ON 30.09.2010)

Name :

Mr. Jinesh Kumar Tyagi

Designation :

Director

Address :

37, Ghookna, PO Mariam Nagar, Ghaziabad, Uttar Pradesh, India

Date of Birth/Age :

15.07.1953

Date of Appointment :

01.06.1998

DIN No.:

01221111

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	U99999DL1998PTC094191	UNITED COMPOSHEETS PRIVATE LIMITED	Director	01-06-98	01-06-98	Active	YES
2	U25209DL2003PTC118797	UNI KOM ENGINEERING PLASTIC PRIVATE LIMITED	Director	04-02-03	04-02-03	Active	NO

Name :

Mr. Naresh Kumar Tyagi

Designation :

Director

Address :

226, Ghookna, PO Mariam Nagar, Ghaziabad, Uttar Pradesh, India

Date of Birth/Age :

01.07.1958

Date of Appointment :

01.06.1998

DIN No.:

01221154

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	U99999DL1998PTC094191	UNITED COMPOSHEETS PRIVATE LIMITED	Director	01-06-98	01-06-98	Active	YES
2	U25209DL2003PTC118797	UNI KOM ENGINEERING PLASTIC PRIVATE LIMITED	Director	04-02-03	04-02-03	Active	NO

Name :

Ms. Lata Tyagi

Designation :

Director

Address :

37, Ghookna, PO Mariam Nagar, Ghaziabad, Uttar Pradesh, India

Date of Birth/Age :

01.05.1956

Date of Appointment :

03.04.2000

DIN No.:

03432212

Name :

Ms. Sarita Tyagi

Designation :

Director

Address :

226, Ghookna, PO Mariam Nagar, Ghaziabad, Uttar Pradesh, India

Date of Birth/Age :

03.04.1964

Date of Appointment :

03.04.2000

DIN No.:

03433003

Name :

Mr. Gaurav Tyagi

Designation :

Director

Address :

37, Ghookna, PO Mariam Nagar, Ghaziabad, Uttar Pradesh, India

Date of Birth/Age :

11.09.1985

Date of Appointment :

05.04.2004

DIN No.:

03426499

Name :

Mr. Saurabh Tyagi

Designation :

Director

Address :

37, Ghookna, PO Mariam Nagar, Ghaziabad, Uttar Pradesh, India

Date of Birth/Age :

04.09.1982

Date of Appointment :

04.09.2000

DIN No.:

03432172

Name :

Mr. Ashish Tyagi

Designation :

Director

Address :

226, Ghookna, PO Mariam Nagar, Ghaziabad, Uttar Pradesh, India

Date of Birth/Age :

29.08.1984

Date of Appointment :

01.09.2002

DIN No.:

03426451

Other Directorship :

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
Jinesh Kumar Tyagi	55000
Naresh Kumar Tyagi	55000
Lata Tyagi	21000
Sarita Tyagi	21000
Saurav Tyagi	16000
Ashish Tyagi	16000
Gaurav Tyagi	16000
Total	200000

(AS ON 30.09.2010)

Equity Shares Break – Up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Electrical, Electronic and Automotive Applications.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Indian Bank,

3 Navyug Market, Ghaziabad-245208, Uttar Pradesh, India

· Oriental Bank of Commerce,

Sahibabad, Ghaziabad, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Indian Bank (OCC A/C)	12.489	10.008
Indian Bank (Term Loan – Plant and Machinery)	0.337	1.289
Term Loan (Indian Bank A/c No.753759222 Machinery)	2.532	2.229
Cholamandalam DBS Finance Limited (Car Loan)	0.930	0.011
Kotak Mahindra Primus Limited (Car Loan)	1.274	1.190
Term Loan (Indian Bank A/c No.-747927945 Car Loan)	0.000	0.143
Total	17.562	14.870
Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Jinesh Kumar Tyagi	0.250	0.250
N. K. Goel	0.000	0.450
Naresh Kumar Tyagi	0.600	0.600
Virendra Kumar Tyagi	0.300	0.300
Vipin Aggarwal	0.000	0.150
Lata Tyagi	0.299	0.299
Sarita Tyagi	0.649	0.649
Total	2.098	2.698

Banking Relations :	--
Auditors :
Name :	N. C. Garg and Associates Chartered Accountants
Address :	1, Navyug Market, II Floor, Ghaziabad - 201001, India
PAN No.:	AAPPG1430M

CAPITAL STRUCTURE

(AS ON 30.09.2010)

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
200000	Equity Shares	Rs.10/- each	Rs.2.000 millions

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		2.000	2.000	2.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		5.687	4.335	3.191
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		7.687	6.335	5.191
LOAN FUNDS
1] Secured Loans		17.562	14.870	15.627
2] Unsecured Loans		2.098	2.698	2.948
TOTAL BORROWING		19.660	17.568	18.575
DEFERRED TAX LIABILITIES		0.663	0.613	0.552
TOTAL		28.010	24.516	24.318
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		16.747	14.176	14.805
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	5.032	4.797	4.129
	Sundry Debtors	20.508	18.904	19.654
	Cash & Bank Balances	0.151	0.209	0.454
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.367	1.825	1.911
Total Current Assets		29.058	25.735	26.148
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	12.579	10.294	16.635
	Other Current Liabilities	5.216	5.101	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		17.795	15.395	16.635
Net Current Assets		11.263	10.340	9.513
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		28.010	24.516	24.318

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009	31.03.2008
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	4.152	4.031	3.258
Less/ Add	DEPRECIATION/ AMORTISATION	2.751	2.797	2.115
	PROFIT BEFORE TAX	1.401	1.234	1.143

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	3.06	3.09	2.79
Return on Investment (ROI) (PBT/Networth)		0.18	0.19	0.22
Debt Equity Ratio (Total Liability/Networth)		4.88	5.30	6.89
Current Ratio (Current Asset/Current Liability)		1.63	1.67	1.57

LOCAL AGENCY FURTHER INFORMATION

NOTE:

Registered Office of the company has been shifted from 267 A, VPO Hastsal, Uttam Nagar, New Delhi-110059, India to the present address w.e.f. 15.07.2008.

FROM 8

Corporate identity number of the company	U99999DL1998PTC094191
Name of the company	UNITED COMPOSHEETS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	F-29, Sector-7, Brahma Apartment, Dwarka, New Delhi-110075, Delhi, India
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	Indian Bank, 3 Navyug Market, Ghaziabad-245208, Uttar Pradesh, India
Nature of instrument creating charge	1. Letter from third party to bank for Extension of Equitable Mortgage dated 22.09.2010
Date of instrument Creating the charge	22.09.2010
Amount secured by the charge	Rs.20.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest OCC- Base Rate +2.75+0.50 Presently 11.25% MTL - Base Rate +3.25+0.50 Presently 11.75% Terms of repayment OCC Limit - Yearly Renewal Term Loan - As per existing repayment schedule. Margin OCC Limit and Term Loan -25% Extent and operation of the charge The Company's immovable properties as mentioned hereunder are mortgaged to collaterally secure following credit facilities aggregating 20.000 Millions granted by the Bank to the Borrower:- 1. CC (Stock and Book Debts ) Rs.10.000 millions 2. MTL I Rs.0.079 million 3. MTL III Rs.2.266 millions 4. MTL IV Rs.3.155 millions 5. MTL IV Rs.4.500 millions
Short particulars of the property charged (Including location of the property)	Equitable Mortgage by extension of title deed of the factory land and building situated at Plot No.46, Khasra No. 478, Dharagal, Merrut Road, Ghaziabad measuring 657.17 Sq. mtrs. Equitable Mortgage by deposit of title deed of the factory land and building situated at Khata No. 60 Part of Khasra No. 26, Village Rasoolpur Yakubpur, Pargana Jalalabad, Ghaziabad

FIXED ASSETS

ü Furniture and fixtures

ü Computer

ü Car

ü Air Conditioners

ü Electric Appliances and Equipment

ü Office Equipments

ü Plant and Machinery

ü Projector and Screep

ü Scooter

ü Three Wheeler

ü Tools and Equipments

WEB SIDE DETAILS

PROFILE

Started in 1998 as a small unit grown up to its present excellence in Sheet Metal Components Manufacturing for Electrical, Electronic and Automotive Applications in a short span of time by continuous up gradation of Technology, Machinery and Skills.

Subject is well established company in the heart of an important renowned township close to New Delhi, Ghaziabad.

The unit is located on National Highway Meerut Road Ghaziabad. Starting in 1992 as a small unit as “United Electronics” in the field of Precision Sheet Metal Component, have grown up and established a new company as subject in year 1999. It is a TS Certified Company having 16949:2009 accredition by URS. There has been a steady addition of facilities to Cater Good Quality Standards. They give below small profile of their unit to apprise you of their capabilities, customer profile etc. Having established as capable and Quality Conscious Supplier of Sheet Metal Components.

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	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--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		42

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.