MIRA INFORM REPORT

Report Date :

10.10.2011

IDENTIFICATION DETAILS

Name :	H. V. METAL ARC PRIVATE LIMITED
Registered Office :	E- 438, First Floor, New Ashok Nagar, Delhi – 110096
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	12.04.2007
Com. Reg. No.:	55-161972
Capital Investment / Paid-up Capital :	Rs.9.869.000 Millions
CIN No.: [Company Identification No.]	U27109DL2007PTC161972
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Pre – Engineered Building, Roofing Solutions, Purlins and Air Ventilators etc.
No. of Employees :	45 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 80000
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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
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 :	Ms. Tripti
Designation :	Accounts Department
Contact No.:	91-120-3915561
Date :	23.09.2011
Name :	Mr. Sandeep
Designation :	Adv Department
Date :	23.09.2011

LOCATIONS

Registered Office :	E- 438 First Floor, New Ashok Nagar, Delhi – 110096, India
Mobile No.:	91-9891259161(Mr. Harish A)
E-Mail :	contact@metalarc.info rawat@metalarc.info
Location :	Owned
Corporate Office :	B- 40 A, Sector 60, Gautam Budh Nagar, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-3915561/68
Fax No.:	91-120-4336871
Factory 1 :	J 30, Site – V, Surajpur Industrial Area, Kasana, Greater Noida, Uttar Pradesh, India
Factory 2 :	Plot No. P1 – P2, Site – U, Surajpur Industrial Area, Kasana, Greater Noida, Uttar Pradesh, India
Overseas Office :	H. V. Metalarc Ghana Limited, P. O. Box 5263, Cantonments, Accra, Ghana
Tel. No.:	233-21812644
Fax No.:	233-21517860

DIRECTORS

As on 30.09.2010

Name :

Mrs. Rekha Goyal

Designation :

Director

Address :

B -65, Sector – 56, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

01.07.1973

Date of Appointment :

12.04.2007

DIN No.:

01196236

Other Directorship :

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
U45200DL2007PTC158659	V Kumar Construction Private Limited	Director	1/02/2007	1/02/2007	4/03/2011	Active	NO
U27109DL2007PTC161972	H.V. Metal Arc Private Limited	Director	12/04/2007	12/04/2007	-	Active	NO

Name :

Mr. Vishal Goyal

Designation :

Director

Address :

B- 65, Sector – 56, Noida - 201301, Uttar Pradesh, India

Date of Birth/Age :

30.10.1971

Date of Appointment :

12.04.2007

DIN No.:

00516175

Other Directorship :

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
U28112DL2006PTC145099	Noida Strips Private Limited	Director	19/01/2006	19/01/2006	-	Active	NO
U45200DL2007PTC158659	V Kumar Construction Private Limited	Director	2/04/2007	2/04/2007	4/03/2011	Active	NO
U27109DL2007PTC161972	H.V. Metal Arc Private Limited	Director	12/04/2007	12/04/2007	-	Active	NO
U74899DL2005PTC139155	Annadi Foods Private Limited	Director	1/03/2011	1/03/2011	-	Active	NO

Name :

Mr. Harish Aswal

Designation :

Director

Address :

E -12 3006 Royal Garden, Sector – 61, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

25.05.1978

Date of Appointment :

12.04.2007

DIN No.:

01352301

Other Directorship :

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
U27109DL2007PTC161972	H.V. Metal Arc Private Limited	Director	12/04/2007	12/04/2007	-	Active	NO
U74899DL2005PTC139155	Annadi Foods Private Limited	Director	1/03/2011	1/03/2011	-	Active	NO

Name :

Mrs. Shivani Shaklani

Designation :

Director

Address :

E-12 3006 Royal Garden, Sector 61, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

07.03.1978

Date of Appointment :

12.04.2007

DIN No.:

01329400

KEY EXECUTIVES

Name :	Ms. Tripti
Designation :	Account Department
Name :	Mr. Sandeep
Designation :	Adv Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.06.2010

Names of Shareholders	No. of Shares
Vishal Goyal	79250
Rekha Goyal	158250
Harish Aswal	154750
Shivani Shaklani	82750
Total	475000

As on 25.03.2011

Names of Allottees	No. of Equity Shares
Aanadi Foods Private Limited	311900
Total	311900

As on 15.03.2011

Names of Allottees	No. of Equity Shares
Vishal Goyal	50000
Rekha Goyal	50000
Harish Aswal	46667
Shivani Saklani	53333
Total	200000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Pre – Engineered Building, Roofing Solutions, Purlins and Air Ventilators etc.
Exports :
Products :	Pre – Engineered Building
Countries :	Ghana
Terms :
Selling :	L/C/ Cash/ Credit
Purchasing :	L/C/ Cash/ Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

45 (Approximately)

Bankers :

· Dena Bank, C – 136, Sector-19, Noida – 201301, Uttar Pradesh, India

· Union Bank of India, Main Branch, Sector-29, Noida – 201301, Uttar Pradesh, India

· ICICI Bank

· HDFC Bank

· Bank of Maharashtra

· HSBC Bank

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Union Bank of India Cash Credit Limit	27.109	19.135
ICICI Bank Car Loan – Verna	0.237	0.473
ICICI Bank Car Loan – Van	0.047	0.123
HDFC Bank Car Loan – Dzire	0.399	0.489
HDFC Bank Car Loan – Swift	0.249	0.378
ICICI Bank Car Loan – Captiva	1.154	1.401
HDFC Bank Car Loan – CRV	1.808	0.000
Total	31.003	21.999

Banking Relations :	--
Auditors :
Name :	Vijay K. Bhalla and Company Chartered Accountants
Address :	C-56, IST Floor, Sector – 9, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-2539012/2543011
PAN.:	AFPPB1131D
Sister Concerns :	· Shivani Industries · Metalwood Creations · H. V. Metalare Ghana Limited · Sankalp Industries · Shivani Hardware Private Limited

CAPITAL STRUCTURE

After 30.09.2010

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
986900	Equity Shares	Rs.10/- each	Rs.9.869 Millions

As on 31.03.2010

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
475000	Equity Shares	Rs.10/- each	Rs.4.750 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		4.750	4.750	2.500
2] Share Application Money		6.470	0.000	0.000
3] Reserves & Surplus		9.004	5.162	1.155
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		20.224	9.912	3.655
LOAN FUNDS
1] Secured Loans		31.003	21.999	5.416
2] Unsecured Loans		0.000	0.000	0.929
TOTAL BORROWING		31.003	21.999	6.345
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		51.227	31.911	10.000
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		14.205	7.238	4.465
Capital work-in-progress		3.241	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	20.550	13.537	3.521
	Sundry Debtors	14.797	13.304	3.786
	Cash & Bank Balances	0.773	0.539	0.021
	Other Current Assets	13.127	1.740	0.831
	Loans & Advances	3.456	2.302	0.000
Total Current Assets		52.703	31.422	8.159
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	13.631	1.562	1.592
	Other Current Liabilities	1.284	3.342	0.000
	Provisions	4.180	1.942	1.092
Total Current Liabilities		19.095	6.846	2.684
Net Current Assets		33.608	24.576	5.475
MISCELLANEOUS EXPENSES		0.173	0.097	0.060
TOTAL		51.227	31.911	10.000

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009	31.03.2008
	PROFIT BEFORE TAX	5.113	2.763	1.736
Less	TAX	1.271	1.005	0.580
	PROFIT AFTER TAX	3.842	1.758	1.156
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	2.912	1.154	0.000
	BALANCE CARRIED TO THE B/S	6.754	2.912	1.156
	Earnings Per Share (Rs.)	8.08	3.70	10.00

Particulars	31.03.2011
Sales Turnover (Approximately)	250.000

The above information has been parted by Ms. Tripti and Mr. Sandeep

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	7.64	7.14	13.75
Return on Investment (ROI) (PBT/Networth)		0.25	0.27	0.47
Debt Equity Ratio (Total Liability/Networth)		2.47	2.91	2.47
Current Ratio (Current Asset/Current Liability)		2.76	4.58	3.03

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report(Yes/No)
Year of Establishment	Yes
Locality of the firm	Yes
Constitutions of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s background	Yes
Number of employees	Yes
Name of person contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	No
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	Yes
Major suppliers	No
Major customers	Yes
Payments terms	Yes
Export/Import details (if applicable)	Yes
Market Information	--
Litigations that the firm/ promoter involved in	--
Banking Details	Yes
Banking facility details	--
Conduct of the banking account	--
Buyer visit details	--
Financials, if provided	No
Incorporation details, if applicable	--
Last accounts filed at ROC	--
Major Shareholders, if available	--

FORM 8

Corporate identity number of the company	U27109DL2007PTC161972
Name of the company	H. V. METAL ARC PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	E- 438, First Floor, New Ashok Nagar, Delhi – 110096, India Email Id : contact@metalarc.info
This form is for	Creation of charge
Type of charge	Immovable property Book debts Others
Particular of charge holder	Union Bank of India, Main Branch, Sector-29, Noida - 201301, Uttar Pradesh, India Email Id : asinghca2002@gmail.com
Nature of instrument creating charge	Composite Hypothecation Deed (SD-20)
Date of instrument Creating the charge	27.08.2011
Amount secured by the charge	Rs.12.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Usual Charges Terms of repayment Payable on Demand Margin 25% Extent and operation of the charge Adhoc LC (DA 90 Days) of Rs.12.000 Millions Other Adhoc LC (90 days) of Rs.12.000 Millions within which LG of RS.5.000 Millions
Short particulars of the property charged (Including location of the property)	· Book Debts · Inventories · Property at C-48, Sector-9, Noida · Property at J-30, Site-5, Surajpur Industrial Area, Greater Noida · Property at P-1 and P-2, Surajpur Industrial Area, Greater Noida

FIXED ASSETS

· Plant and Machinery

· Car

· Computer

· Electrical Fitting

· Factory Plot

· Furniture and Fixture

· Scooter

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.49.13
UK Pound	1	Rs.75.97
Euro	1	Rs.65.99

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		43

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.