MIRA INFORM REPORT

Report Date :

29.11.2011

IDENTIFICATION DETAILS

Name :	M. K. WOOD INDIA PRIVATE LIMITED
Registered Office :	74/20, Amar Colony, Main Rohtak Road, New Delhi - 110041
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	15.07.1998
Com. Reg. No.:	55-95010
Capital Investment/ Paid-up Capital:	Rs.12.171 millions
CIN No.: [Company Identification No.]	U20219DL1998PTC095010
TAN No.: [Tax Deduction & Collection Account No.]	DELM05405B
PAN No.: [Permanent Account No.]	AAACM9651J
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Timber and Plywood.
No. of Employees :	80 (Approximately)

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 250000
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

INFORMATION PARTED BY

Name :	Mr. Sanjay Gupta
Designation :	Director
Contact No.:	91-9825226436
Date :	26.11.2011

LOCATIONS

Registered / Head Office :	74/20, Amar Colony, Main Rohtak Road, New Delhi - 110041, India
Tel. No.:	91-11-25281917 / 25473073 / 25473073 / 65492567/ 25473279
Mobile No. :	91-9825226436 (Mr. Sunil Gupta)
Fax No.:	91-11-25473080
E-Mail :	gma21@rediffmail.com sunil@mkwoodindia.com babulal_gupta1957@yahoo.co.in info@mkwoodindia.com
Website :	www.mkwoodindia.com
Area :	1000 yard
Location :	Owned
Corporate Office :	3/819 Navjivan Commercial Co Operative Society Limited, Lamington Road, Mumbai - 400008, Maharashtra, India
Tel. No.:	91-22-23054746 / 23095453
Fax No.:	91-22-23052076
Factory :	564/65, National Highway-8, Mikyrahar Road, Gandhigram, Gujarat, India
Area :	39 Acre
Location :	Owned
Branch Office 1 :	Timber Market, Rajpura Town - 140401, Punjab, India
Branch Office 2 :	Plot No. 489, No. 8A, Mithi Ronar Road, Gandhidham, Gujarat, India

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Sunil Kumar Gupta

Designation :

Director

Address :

M-434, Guru Harikishan Nagar, Paschim Vihar, New Delhi - 110041, India

Date of Birth/Age :

37 Years

Qualification:

B.Com

Date of Appointment :

15.07.1998

DIN No. :

328429

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	U67120MH1996PTC104793	Ablaze Investrade Private Limited	Director	22/07/1997	22/07/1997	-	Active	NO
2	U51909WB1995PTC070472	Srisaran Suppliers Private Limited	Additional director	22/07/1997	22/07/1997	-	Not Available for eFiling	NO
3	U20219DL1998PTC095010	M.K. Wood India Private Limited	Director	15/07/1998	15/07/1998	-	Active	NO
4	U51397MH2001PTC132883	Srisaran Suppliers Private Limited	Director	26/07/2001	26/07/2001	-	Active	YES
5	U20232MH2008PTC177288	M. K. Ply Wood (India) Private Limited	Director	3/1/2008	3/1/2008	-	Active	NO

Name :

Mr. Mahesh Chand Gupta

Designation :

Director

Address :

M-434, Guru Harikishan Nagar, Paschim Vihar, New Delhi - 110041, India

Date of Birth/Age :

49 Years

Qualification:

H.S.C

Date of Appointment :

15.07.1998

DIN No. :

328448

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	U51909WB1995PTC070472	Srisaran Suppliers Private Limited	Director	5/6/1997	5/6/1997	-	Not Available for eFiling	NO
2	U67120MH1996PTC104793	Ablaze Investrade Private Limited	Director	22/07/1997	22/07/1997	-	Active	NO
3	U20219DL1998PTC095010	M.K. Wood India Private Limited	Director	15/07/1998	15/07/1998	-	Active	NO
4	U51397MH2001PTC132883	Srisaran Suppliers Private Limited	Director	26/07/2001	26/07/2001	-	Active	YES
5	U20232MH2008PTC177288	M. K. Ply Wood (India) Private Limited	Director	3/1/2008	3/1/2008	-	Active	NO

Name :

Mr. Radhey Shyam Gupta

Designation :

Director

Address :

M-256, Guru Harikishan Nagar, Paschim Vihar, New Delhi - 110041, India

Date of Birth/Age :

47 Years

Qualification:

H.S.C.

Date of Appointment :

01.07.2004

DIN No. :

312993

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	U51909WB1995PTC070472	Srisaran Suppliers Private Limited	Director	5/6/1997	5/6/1997	-	Not Available for eFiling	NO
2	U20200MH1997PTC112647	M K Lumbers Private Limited	Director	30/10/1998	30/10/1998	-	Active	NO
3	U51397MH2001PTC132883	Srisaran Suppliers Private Limited	Director	26/07/2001	26/07/2001	-	Active	YES
4	U20219DL1998PTC095010	M.K. Wood India Private Limited	Additional director	1/7/2004	1/7/2004	-	Active	NO

Name :

Mr. Dwarka Prasad Gupta

Designation :

Director

Address :

M-434, Guru Harikishan Nagar, Paschim Vihar, New Delhi - 110041, India

Date of Birth/Age :

55 Years

Qualification:

H.S.C.

Date of Appointment :

01.11.2005

DIN No. :

308082

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	U20200MH1997PTC112647	M K Lumbers Private Limited	Director	30/10/1998	30/10/1998	-	Active	NO
2	U20219DL1998PTC095010	M.K. Wood India Private Limited	Director	1/11/2005	1/11/2005	-	Active	NO

Name :

Mr. Sanjay Gupta

Designation :

Director

Date of Birth/Age :

35 years

Qualification:

M.B.A

Name :

Mr. Amit Agarwal

Designation :

Director

Date of Birth/Age :

25 years

Qualification:

Graduate

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Sunil Kumar Gupta	271000
Mahesh chand Gupta	101000
Om Prakash Gupta	105990
Giriraj Gupta	102500
Banarsidevi Gupta	85500
Meva Devi Gupta	75000
Kiran Devi Gupta	2500
Krishna Devi Gupta	30000
Radhey Shyam Gupta	91500
Meena Devi Gupta	35000
Dwarka Prasad Gupta	25000
Sirajul A Siddiqui	40000
Sanjay Kumar Gupta	90000
Ravi Bansal	29000
Kamal Kishore Bansal Joint With Amit Agarwal	100
Sunil Kumar Bansal Joint With Sandeep Singh Cheema	100
Kavita Bansal Joint With Ansh Gupta	100
Omprakash Gupta Joint With Pankaj Kumar Gupta	10
Manju Gupta	5000
Hemlata Gupta	5000
Ansh Gupta	5000
Ramkali Devi Bansal	100
Srisaran Suppliers M Private Limited, India	117750
Total	1217150

Equity Share Breakup

(AS ON 30.09.2011)

Category	Percentage
Bodies corporate	9.70
Directors or relatives of directors	90.30
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Timber and Plywood.
Products :	Teak Wood Pine Wood Champ Wood Meranti Wood Sal Wood Kapoor Wood Canadian Wood SPS YSP Russian Pine German Pine
Imports :
Products :	Timber Plywood
Countries :	· Malaysia · Africa · America · New Zealand
Terms :
Selling :	L/C / Cash / Depends
Purchasing :	Cash

GENERAL INFORMATION

Customers :

Wholesalers

No. of Employees :

80 (Approximately)

Bankers :

· Corporation Bank, Oversea Branch, M - 93, Connaught Place, New Delhi - 110001, India

· Centurion Bank of Punjab Limited, F - 2/4, Rajouri Garden, New Delhi - 110027, India

· Syndicate Bank, I.P. Estate, New Delhi, India

Facilities :

Letter of Credit – Rs.500.000 millions.

(Rs. in millions)

Secured Loans	As on 31.03.2011	As on 31.03.2010
Working Capitals Loans secured	33.649	26.199
Loans taken for fixed assets secured	1.620	0.000
Other debt secured	95.209	0.000
Total	130.478	26.199

(Rs. in millions)

Unsecured Loans	As on 31.03.2011	As on 31.03.2010
Other Debt Unsecured	35.118	7.380
Total	35.118	7.380

Banking Relations :	--
Auditors :
Name :	B. Maheshwari and Company Chartered Accountants
Address :	302, B, City Point, Nera Kohinoor Hotel, A K Road, Andheri (East), Mumbai-400059, Maharashtra, India
Income-tax PAN of auditor or auditor’s firm :	AADFB4519J
Associates/Subsidiaries :	Name: Ablaze Investrade Private Limited Address: Swarn Park, Assam Timber Market, Rohtak Road, Nangloi, Delhi – 110041, India Tel No: 91-11-28343550 / 25473073 / 25473729 Fax: 91-11-25483080 Name: Srisaran Suppliers Private Limited Address: Swarn Park, Main Rohtak Road, Mundka, Nangloi, Delhi – 110041, India Fax: 91-11-254830480

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Share	Rs.10/- each	Rs.20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1217150	Equity Share	Rs.10/- each	Rs.12.171 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		12.171	10.994	9.994
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		52.505	31.760	12.942
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		64.676	42.754	22.936
LOAN FUNDS
1] Secured Loans		130.478	26.199	22.436
2] Unsecured Loans		35.118	7.380	8.660
TOTAL BORROWING		165.596	33.579	31.096
DEFERRED TAX LIABILITIES		1.084	0.908	0.844
TOTAL		231.356	77.241	54.876
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		22.035	12.674	10.915
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	201.203	82.346	75.338
	Sundry Debtors	209.457	136.114	97.804
	Cash & Bank Balances	51.117	43.974	21.820
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	17.473	13.043	10.301
Total Current Assets		479.250	275.477	205.263
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	236.377	201.090	153.911
	Other Current Liabilities	21.162	0.857	3.428
	Provisions	12.390	8.963	3.963
Total Current Liabilities		269.929	210.910	161.302
Net Current Assets		209.321	64.567	43.961
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		231.356	77.241	54.876

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1019.397	669.647	547.843
		Other Income		4.264	1.003
		TOTAL (A)	1019.397	673.911	548.846
Less	EXPENSES
		Office Expenses		86.961	72.402
		Administrative Expenses		565.908	467.819
		TOTAL (B)	1002.124 [Including financial expenses and depreciation]	652.869	540.221
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			21.042	8.625
Less	FINANCIAL EXPENSES (D)			4.623	2.721
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			16.419	5.904
Less/ Add	DEPRECIATION/ AMORTISATION (F)			1.129	1.056
	PROFIT BEFORE TAX (E-F) (G)		17.273	15.290	4.848
Less	TAX (H)		7.126	5.472	1.574
	PROFIT AFTER TAX (G-H) (I)		10.147	9.818	3.274
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		22.760	12.942	9.668
	BALANCE CARRIED TO THE B/S		32.907	22.760	12.942
	IMPORTS
		C.I.F Value	653.550	325.512	271.767
	TOTAL IMPORTS		653.550	325.512	271.767
	Earnings Per Share (Rs.)		8.34	8.93	3.28

Expected Sales (2011-2012) : Rs.2000.000 millions.

The above information has been parted by Mr. Sanjay Gupta.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.99	1.46	0.59
Net Profit Margin (PBT/Sales)	(%)	NA	2.28	0.88
Return on Total Assets (PBT/Total Assets}	(%)	0.03	5.31	2.24
Return on Investment (ROI) (PBT/Networth)		0.27	0.36	0.21
Debt Equity Ratio (Total Liability/Networth)		6.73	5.72	8.38
Current Ratio (Current Asset/Current Liability)		1.78	1.31	1.27

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in reports
1) Year of Establishment	Yes
2) Locality of the Firm	Yes
3) Constitution of the Firm	Yes
4) Premises Details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s Background	---------
8) No. of Employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm of last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variations <> 20%	----------
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of Sister concern	Yes
17) Major Suppliers	----------
18) Major Customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market Information	---------
22) Litigation that the firm / promoter involved	---------
23) Banking Details	Yes
24) Banking facility Details	Yes
25) Conduct of the banking account	---------
26) Buyer visit details	---------
27) Financials, if provided	No
28) Incorporation details, if applicable	----------
29) Last account field at ROC	----------
30) Major Shareholders, if available	----------

FORM 8:

Corporate identity number of the company	U20219DL1998PTC095010
Name of the company	M.K. WOOD INDIA PRIVATE LIMITED.
Address of the registered office or of the principal place of business in India of the company	74/20, Amar Colony, Main Rohtak Road, New Delhi - 110041, India E-Mail d: babulal_gupta1957@yahoo.co.in
This form is for	Creation of Charge
Type of charge	Others - Vehicles Loan
Particular of charge holder	Corporation Bank Overseas Branch, M - 93, Connaught Place, New Delhi - 110001, India E-Mail: pankajkpc@gmail.com
Nature of instrument creating charge	Agreement for Hypothecation of Vehicles.
Date of instrument Creating the charge	11.02.2011
Amount secured by the charge	Rs.0.660 million
Brief of the principal terms an conditions and extent and operation of the charge	a) Rate of Interest Rate of interest for the said vehicles loan is 11% p.a. link with base rate for 1st,year from the 2nd year onwards the rate of interest to be refixed at 2.25% above the base rate prevailing at the time. b) Terms of Repayment The proposed vehicle loan is repayable in 24 equated monthly installments. The EMI for 1st, year will be Rs.0.031 million. The monthly loan installment should be paid on or before 7th, day of the succeeding month irrespective of the date of release of the loan. c) Margin 16.67%. d) Extent and operation of the charge As per terms of sanction.
Short Particulars of the property charged	Hypothecation of Brand New Maruti Dzire ZDI Car Valued Rs.0.792 million as per their proforma Invoice of T.R Sawhney Motors Private Limited dated 10.02.2011.

FIXED ASSETS:

• Office Premises
• Factory Shed
• Plant and Machinery
• Furniture and Fixture
• Electrical and Installation
• Office Equipment
• Computers
• Vehicles
• Generator
• Fax Machine
• Motar Car
• Motor Car (Getz)
• Scooter
• Air Conditioner
• Mobile Phone
• Delivery Van

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.51.98
UK Pound	1	Rs.80.58
Euro	1	Rs.69.12

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	YES
--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.