MIRA INFORM REPORT

Report Date :

21.11.2011

IDENTIFICATION DETAILS

Name :	YANSONS ENGINEERING PRIVATE LIMITED
Registered Office :	J-26, MIDC, Bhosari, Pune – 411026, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	09.05.1994
Com. Reg. No.:	11-078280
Capital Investment / Paid-up Capital :	Rs.2.000 Millions
CIN No.: [Company Identification No.]	U29199PN1994PTC078280
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Air Pollution Control Equipment and Systems.
No. of Employees :	24 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 18000
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 small 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

INFORMATION PARTED BY

Name :	Mr. Uday Yannewar
Designation :	Director
Contact No.:	91-9225603053
Date :	19.11.2011

LOCATIONS

Registered Office/ Factory :	J-26, MIDC, Bhosari, Pune – 411026, Maharashtra, India
Tel. No.:	91-20-27122337/ 27126176/ 66300975
Mobile No.:	91-9225603053 (Mr. Uday Yaneewar)
Fax No.:	91-20-27122793
E-Mail :	sales@yansosgroup.com yansons_engg@dataone.in
Website :	http://www.yansosgroup.net
Area :	6500 sq. ft.
Location :	Owned

DIRECTORS

(AS ON 30.09.2010)

Name :

Mr. Uday Dattatraya Yaneewar

Designation :

Director

Address :

SCT 25, Plot No.260, FL No.05, Vighnaharta Apartment, Nigdi Pradhikaran, Pune – 411044, Maharashtra, India

Date of Birth/Age :

22.08.1962

Qualification :

Mechanical Engineer

Date of Appointment :

01.08.1994

DIN No.:

00692183

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	U29199PN1994PTC078280	YANSONS ENGINEERING PRIVATE LIMITED	Managing director	1/8/1994	1/8/1994	Active	NO
2	U32109PN2008PTC131470	YANSONS PROCESS EQUIPMENTS PRIVATE LIMITED	Director	21/02/2008	21/02/2008	Active	NO

Name :

Mrs. Veena Uday Yaneewar

Designation :

Director

Address :

FL No.05, Vighnaharta Apartment, Plot No.260, Sector No.25,Sindhu Nagar, Chinchwad, Pune – 411044, Maharashtra, India

Date of Birth/Age :

27.10.1969

Qualification :

B. Com

Date of Appointment :

01.08.1994

DIN No.:

00517280

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	U29199PN1994PTC078280	YANSONS ENGINEERING PRIVATE LIMITED	Whole-time director	1/8/1994	1/8/1994	Active	NO
2	U32109PN2008PTC131470	YANSONS PROCESS EQUIPMENTS PRIVATE LIMITED	Director	20/08/2009	26/09/2008	Active	NO

Name :

Mr. Dattatray Tukaram Yaneewar

Designation :

Director

Address :

Shree Apartment, Plot No.286, Sector 25, Radhikaran, Nigdi, Pune – 411039, Maharashtra India

Date of Birth/Age :

24.12.1931

Date of Appointment :

01.08.1994

DIN No.:

00517286

KEY EXECUTIVES

Name :	Neelkanth G. Limaye
Designation :	Company Secretary
Address :	F-2, Akshay Park, co-operative, Housing Society 46/2B/2, Erandwane, Paud Road, Pune – 411038, Maharashtra, India
Date of Birth/Age :	91-20-25456077
Qualification :	91-20-25447271
Email :	limayeng@gmail.com

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
Uday Yaneewar	187500
Veena Uday Yaneewar	12500
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 Air Pollution Control Equipment and Systems.
Terms :
Selling :	L/C, Cash and Credit (30-60 days)
Purchasing :	L/C, Cash and Credit (30-60 days)

GENERAL INFORMATION

Customers :

Manufacturer

· Tharmax Limited

· A.C.C. Limited

· Tata Motors

No. of Employees :

24 (Approximately)

Bankers :

· IDBI Bank,

4^th Floor, IDBI House, Dhayaneshwar Paduka Chowk, F C Road, Shivajinagar, Pune – 411004, Maharashtra, India

· Citi Bank

· ICICI Bank

Facilities :

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
IDBI Bank C/C 286 (secured by charge against book debts and stock)	4.813	3.702
Maruti Countrywide Auto Loan (Secured by personal Guarantee of director)	0.039	0.112
Citi Bank Loan (Secured by personal guarantee of directors)	0.000	0.038
ICICI Bank – Innova Car Loan	0.297	0.414
IDBI Bank Loan 073	1.357	1.775
IDBI Bank Loan 462	0.740	0.800
Total	7.246	6.841
Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Loan from Directors	1.866	1.357
Total	1.866	1.357

Banking Relations :	--
Auditors :
Name :	Rupanawar B. M. and Company Chartered Accountant
Address :	1156, Girish, Shukrawar Peth, Pune – 411002, Maharashtra, India
PAN No.:	AHCPR3576K

CAPITAL STRUCTURE

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
350000	Equity Share	Rs.10/- each	Rs.3.500 Millions

Issued, Subscribed & Paid-up Capital :

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

NOTE:

(Of the above, 28500 shares of Rs.10/- each have been issued for considered other than cash)

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	0.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.525	2.370	2.236
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.525	4.370	2.736
LOAN FUNDS
1] Secured Loans		7.246	6.841	5.557
2] Unsecured Loans		1.866	1.357	2.526
TOTAL BORROWING		9.112	8.198	8.083
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		13.637	12.568	10.819
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.315	8.968	7.368
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.550	0.564	0.078
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	10.547	11.505	4.554
	Sundry Debtors	3.454	6.730	5.987
	Cash & Bank Balances	0.088	0.234	1.375
	Other Current Assets	0.000	0.000	0.118
	Loans & Advances	0.191	0.425	0.349
Total Current Assets		14.280	18.894	12.383
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	9.000	12.881	7.102
	Other Current Liabilities	0.635	2.504	0.847
	Provisions	(0.127)	0.473	1.061
Total Current Liabilities		9.508	15.858	9.010
Net Current Assets		4.772	3.036	3.373
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		13.637	12.568	10.819

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	35.197	29.073	28.941
		Other Income	0.063	0.272	0.342
		TOTAL	35.260	29.345	29.283
Less	EXPENSES
		TOTAL	35.030	29.068	27.266
	PROFIT BEFORE TAX		0.230	0.277	2.017
Less	TAX		0.075	0.143	0.790
	PROFIT AFTER TAX		0.155	0.134	1.227
	Earnings Per Share (Rs.)		0.31	0.27	--

Particulars	31.03.2011
Sales Turnover (Approximately)	38.000

Expected Sales (2011-12): Rs.70.000 Millions

The above information has been parted by Mr. Uday.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.44	0.46	4.19
Net Profit Margin (PBT/Sales)	(%)	0.65	0.95	6.97
Return on Total Assets (PBT/Total Assets}	(%)	1.02	0.99	10.21
Return on Investment (ROI) (PBT/Networth)		0.05	0.06	0.74
Debt Equity Ratio (Total Liability/Networth)		4.11	5.50	6.25
Current Ratio (Current Asset/Current Liability)		1.50	1.19	1.37

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	------
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last two years	Yes
Profitability for last two years	Yes
Reasons for variation <> 20%	------
Estimation for coming financial year	Yes
Capital in the business	No
Details of sister concerns	------
Major Suppliers	------
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
Market Information	------
Litigations that the firm/ Promoters Involved in	------
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	------
Buyer visit details	------
Financials, if provided	No
Incorporation details is applicable	------
Last Accounts filed at ROC	------
Major Shareholders, if available	------

OPERATIONS:

The company has made sales of Rs.35.197 Millions and other income of Rs.0.063 Million in the year and has earned profit of Rs.0.155 Million (After Tax).

TRADE REFERENCE:

· Tharmax Limited

· A.C.C. Limited

· Tata Motors

FORM 8:

Corporate identity number of the company	U29199PN1994PTC078280
Name of the company	Yansons Engineering Private Limited
Address of the registered office or of the principal place of business in India of the company	J-26 MIDC Bhosari, Pune – 411026, Maharashtra, India yansons_engg@dataone.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10093358
Type of charge	Immovable property Book debts Movable Property
Particular of charge holder	· IDBI Bank, 4^th Floor, IDBI House, Dhayaneshwar Paduka Chowk, F C Road, Shivajinagar, Pune – 411004, Maharashtra, India ravindra.bondre@idbi.co.in
Nature of instrument creating charge	1. Supplemental Loan/Facility Agreement. 2. Revival Letter 2. Declaration and Undertaking 3. Memorandum of Entry (All above documents constitute single modification)
Date of instrument Creating the charge	31.08.2010
Amount secured by the charge	Rs.13.075 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interests: For Term Loan of 13.000 Millions and Takeover Loan of 0.8 Millions @ 13.25 % p.a. being BPLR of the Bank less spread @ 1% on monthly rests or at such rate as may be fixed by the bank. CC Base Rate+6.25% Terms of Repayment: For Term Loan- 5 years including 1.5 years' moratorium.- @ Rs.0.200 Million p.m. for 12 months first twelve months wef 1.8.2009 and @ Rs.0.380 Million p.m. for rest of the 30 months. For Cash Credit-12 months or Repayable on Demand Margin: 25% on stock and 30% on Book Debts upto 90 days Extent and Operations of the charge: The charge created and hereby modified shall be a continuing security for the due repayment by the company for the term loan of Rs.1.775 Millions, takeover loan of Rs.0.800 Millions, Working capital fund based limit Rs.7.500 Millions and Non fund based limit Rs.3.000 Millions together with interest for the liquidated damages and all other monies payable by the company in the terms of attached documents Others: For Bank Guarantee 1) Commission- 3 % p.a. plus service tax payable upfront 2) Repayment-12 months line/Tenure of any individual Performance Guarantee not to exceed 36 months including claim period 3) Margin-15% in FDR
Particulars of the property charged	All movables including stocks of raw material, finished and semi finished goods, stores, book debts, vehicles, machinery of the company, at the borrowers unit at J-26, MIDC , Bhosari, Pune 411026 Immovable property situated at Plot No.J-26, Admeasuring about 600 Sq. Mtrs. in Pimpri Industrial Area, Bhosari, Taluka Haveli, District Pune Property situated at Old Gat No.1246 and 1247 and New Gat No.893 and 894 admeasuring about 132 Ares at Post Paragaon, Taluka Khandala, District Pune.
Particulars of the present modification	Present modification is for recording cancellation of unavailed term loan assistance (Rs.11.225 Millions), repayment of adhoc facility (Rs.2.300 Millions), reduction in non fund based working facility (Rs.1.000 Millions) and enhancement fund bases working capital facility i.e.CC (by Rs.2.500 Millions) making present financial assistance of term loan of Rs. 1.775 Millions, takeover loan of Rs.0.8 Million, Working capital fund based limit Rs.7.500 Millions and Non fund based limit Rs.3.000.

FIXED ASSETS:

· Furniture and Fixture

· Vehicles

· Computers

· Plant and Machinery

· Building

· Office Equipment

· Land

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.51.35
UK Pound	1	Rs.80.97
Euro	1	Rs.69.26

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	3
--PROFITABILIRY	1~10	2
--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		30

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.