MIRA INFORM REPORT

Report Date :

09.11.2011

IDENTIFICATION DETAILS

Name :	WIOSKA MOLDINGS PRIVATE LIMITED
Registered Office :	R-52, 3^rd Floor, Vikas Marg, Shakarpur, Delhi – 110 092
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	31.03.1997
Com. Reg. No.:	55-86272
Capital Investment / Paid-up Capital :	Rs.1.600 millions
CIN No.: [Company Identification No.]	U28939DL1997PTC086272
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Moulds, Plastic Parts, Parts for Auto Industry.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 23000
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 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 :	R-52, 3^rd Floor, Vikas Marg, Shakarpur, Delhi – 110 092, India
Tel. No. :	91-11-22012352
Fax No.:	Not Available
E-Mail :	roc@mbgupta.com mbg_fca@hotmail.com mbg.mca@hotmail.com
Factory :	Industrial Plot No. 76, Block No. A, Sector No-80, Phase-II Noida – 201 301, Uttar Pradesh, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Pankaj Kumar Jindal

Designation :

Director

Address :

K-25, Sector – 11, Noida, Uttar Pradesh, India

Date of Appointment :

23.11.1999

PAN No.:

ABQPJ9031P

DIN :

00047180

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	U28939DL1997PTC086272	Wioska Moldings Private Limited	Director	23-11-99	23-11-99	Active	NO
2	U45202DL1989PTC035707	Blue Moon Developers Private Limited	Director	17-04-08	17-04-08	Active	NO
3	U74899DL1994PTC062088	Pratap Metals Private Limited	Director	02-06-08	02-06-08	Active	NO
4	U72300DL2008PTC180075	Wioska Infoservice Private Limited	Director	25-06-08	25-06-08	Active	NO

Name :

Mrs. Savita Jindal

Designation :

Director

Address :

K-25, Sector – 11, Noida, Uttar Pradesh, India

Date of Appointment :

19.02.2003

PAN No.:

AEPPJ0776D

DIN :

00047206

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	U74899DL1994PTC062088	Pratap Metals Private Limited	Director	12-03-01	12-03-01	Active	NO
2	U28939DL1997PTC086272	Wioska Moldings Private Limited	Director	19-02-03	19-02-03	Active	NO
3	U72300DL2008PTC180075	Wioska Infoservice Private Limited	Director	25-06-08	25-06-08	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Pankaj Kumar Jindal	122300
Satish Kumar Verma	100
Savita Jindal	37500
Pankaj Kumar Jindal (HUF)	100
Total	160000

As on 30.09.2011

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

BUSINESS DETAILS

Line of Business :

Manufacturer of Moulds, Plastic Parts, Parts for Auto Industry.

PRODUCTION STATUS AS ON (31.03.2011)

Particulars	Actual Production
4 Wheeler (Parts)	14391014.00
2 Wheeler (Parts)	5419168.00
Scrap (kg)	12733.00
Moulds	7.00
Speaker Parts	108596.00

GENERAL INFORMATION

Suppliers :

· A S Precision Punches

· Amit Printers

· Bhola Electricals

· Classic Enterprises

· D. R. Polymers Limited

· Dharma Electricals

· Equal Plastics

· Jawa Plastics Private Limited

· OSN Plastic Inc.

· Perfect Industries

· Pratap Metals Private Limited

· Sai Om Packaging

· SGS India Private Limited

No. of Employees :

Not Available

Bankers :

· Small Industries Development Bank of India

C-60, Sector - 2, Noida – 201 301, Uttar Pradesh, India

· Bank of Baroda

· ICICI Bank Limited

· HDFC Bank

Facilities :

Secured Loan	31.03.2011 (Rs.in millions)	31.03.2010 (Rs.in millions)
Bank of Baroda OD A/c (against Hypothecation of stock and book debts)	1.946	2.152
Bank of Baroda car loan (against Hypothecation of Swift Dzire Car)	0.349	0.465
ICICI car loan a/c (against Hypothecation of car – 0082)	0.010	0.010
Term loan (BOB) A/c (For purchase of New Plant and machinery)	4.800	0.000
Term loan (SIDBI New) A/c	3.600	3.200
Term loan (SIDBI) A/c (against Hypothecation of building)	0.985	1.705
Term loan (SIDBI) A/c (against Hypothecation of Plant and machinery)	1.546	2.386
Term loan (SIDBI) A/c (against Hypothecation of Plant and machinery)	1.042	0.500
Total	14.278	10.418

Unsecured Loan	31.03.2011 (Rs.in millions)	31.03.2010 (Rs.in millions)
Advantage Engineers and Development Private Limited	0.300	0.300
Pankaj Kumar Jindal	1.971	1.738
Pankaj Kumar Jindal HUF	0.026	0.123
Satish Kumar Verma	0.077	0.077
Suraj Kumar Jindal	0.000	0.577
Savita Jindal	0.309	0.046
Total	2.683	2.861

Banking Relations :	--
Auditors :
Name :	M. B. Gupta and Company Chartered Accountants
Address :	R-52, IIIrd Floor, Vikas Marg, Shakarpur, Delhi – 110 092, India
Tel. No.:	91-11-22012352

CAPITAL STRUCTURE

After 30.09.2011

Authorised Capital : Rs.7.500 millions

Issued, Subscribed & Paid-up Capital : Rs.7.100 millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
160000	Equity Shares	Rs.10/- each	Rs.1.600 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		1.600	1.600	1.600
2] Share Application Money		0.928	0.928	0.928
3] Reserves & Surplus		3.146	2.060	1.693
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		5.674	4.588	4.221
LOAN FUNDS
1] Secured Loans		14.278	10.418	14.813
2] Unsecured Loans		2.683	2.861	1.507
TOTAL BORROWING		16.961	13.279	16.320
DEFERRED TAX LIABILITIES		0.097	0.000	0.074
TOTAL		22.732	17.867	20.615
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		11.377	10.925	11.498
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.008	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.342	2.260	3.598
	Sundry Debtors	9.950	6.468	11.290
	Cash & Bank Balances	0.953	1.231	0.479
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	6.653	1.538	2.012
Total Current Assets		19.898	11.497	17.379
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.406	3.255	7.358
	Other Current Liabilities	1.402	0.921	0.626
	Provisions	0.735	0.387	0.278
Total Current Liabilities		8.543	4.563	8.262
Net Current Assets		11.355	6.934	9.117
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		22.732	17.867	20.615

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	TURNOVER AND OTHER INCOME		55.938	38.741	33.971
Less	EXPENSES
		Office Expenses	50.609	34.830	30.038
		Administrative Expenses
		Advertising Expenses
		TOTAL	50.609	34.830	30.038
s	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		5.329	3.911	3.933
Less	FINANCIAL CHARGES		1.921	1.660	1.794
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		3.408	2.251	2.139
Less/ Add	DEPRECIATION/ AMORTISATION		1.481	1.581	1.611
	PROFIT BEFORE TAX		1.927	0.670	0.528
Less	TAX		0.841	0.304	0.191
	PROFIT AFTER TAX (G-I)		1.086	0.366	0.337
	Earnings Per Share (Rs.)		6.79	2.29	2.11

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.94	0.94	0.99
Return on Total Assets (PBT/Total Assets}	(%)	6.16	2.99	1.83
Return on Investment (ROI) (PBT/Networth)		0.34	0.15	0.13
Debt Equity Ratio (Total Liability/Networth)		4.49	3.89	5.82
Current Ratio (Current Asset/Current Liability)		2.33	2.52	2.10

LOCAL AGENCY FURTHER INFORMATION

Note : Registered office address of the company has been shifted from 1/110474, Panchsheel Garden, Naveen Shahdra, Delhi – 32 to the present address.

WORKING OF THE COMPANIES

During the year, the company earned a profit of Rs.1.086 millions as compared to Rs.0.366 million profit earned during the previous year. The directors are trying for better results in the next year.

FORM 8

Corporate identity number of the company	U28939DL1997PTC086272
Name of the company	WIOSKA MOLDINGS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	R-52, 3^rd Floor, Vikas Marg, Shakarpur, Delhi – 110 092, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10311751
Type of charge	· Immovable property · Movable property (not being pledge)
Particular of charge holder	Small Industries Development Bank of India C-60, Sector - 2, Noida – 201 301, Uttar Pradesh, India
Nature of instrument creating charge	Deed of Hypothecation and declaration and undertakings dated 13/10/2011, declaration and undertaking dated 31.10.2011.
Date of instrument Creating the charge	31.10.2011
Amount secured by the charge	Rs.31.800 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest will be payable @13.25% (Floating) p.a. The rate mentioned is subject to change and per sole discretion of SIDBI or as per RBI directives. Terms of repayment (a) TERM LOAN- 40 monthly installment of Rs.0.425 millions and 20 monthly installment by Rs.0.450 millions. (B) WCTL- 40 monthly installment of Rs.0.065 million and 20 monthly installment of Rs.0.160 million Margin 26.56% Extent and operation of the charge 1) First Charge by way of hypothecation in favour of SIDBI of all existing movable assets and movable Assets including plant and machinery, equipments, tools and all other assets already acquired or proposed to be acquired under scheme. 2) a) Extension of first charge by way of mortgage in favour of SIDBI of all immovable properties of the borrower , both present and future, situated at Industrial Plot No 76, Block No-A, Sector No-80, Phase-II, Noida- 201301 admeasuring 450 sq. meters. Others 3)First charge by way of equitable mortgage in fabour of SIDBI all immovable properties of the borrower situated at H-132 Sector 63, NOIDA.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First charge by way of hypothecation, in favour of SIDBI, of all the movable assets including plant and machinery, equipment, machinery spares, tools and accessories, office equipment, computers, furniture and fixtures, misc. fixed assets etc acquired/ proposed to be acquired under the project situated at Plot No 132, Block-H, Sector-63, Noida. First charge by way of hypothecation of existing all movable assets, including plant and machineries, equipments, spares, tools, MFA, utilities and ancillary equipments etc. already acquired in such form as may be required by SIDBI situated at B-66, Sector-5, Noida-201301. Extension of First charge by way of mortgage in favour of SIDBI of all immovable properties of the borrower, both present and future, situated at Industrial Plot No 76, Block No-A Sector No-80, Phase-II, Noida- 201301 admeasuring 450 sq. meters. First charge by way of equitable mortgage in fabour of SIDBI all immovable properties of the borrower situated at H-132 Sector 63 NOIDA.
Particulars of the present modification	First charge by way of equitable mortgage in fabour of SIDBI all immovable properties of the borrower situated at H-132 Sector 63, Noida.

FIXED ASSETS

· Leasehold Land

· Building

· Electrical Installations

· Car

· Scooters

· Computers

· Cycle

· Generator

· Plastic bin

· Air conditioner

· Machinery

· EDM Machine

· Romex machine

· Tools, Dies, Sign and Fixture

· Electrical Equipment

· Telephone Instruments

· Fire Safety Instrument

· Cooling Tower

· Fan

· CVT Camera

· Television

· Weighing Machine

· Water Pump

· Furniture and Fixture

· Transformer

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	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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		45

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.