MIRA INFORM REPORT

Report Date :

12.10.2011

IDENTIFICATION DETAILS

Name :	HINDUSTAN POWER PRODUCTS PRIVATE LIMITED
Registered Office :	26 Najafgarh Road, Industrial Area, New Delhi – 110 015
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	24.12.1990
Com. Reg. No.:	55-42478
Capital Investment / Paid-up Capital :	Rs. 1.487 Millions
CIN No.: [Company Identification No.]	u74899dl1990ptc042478
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture, Supply and Export a wide range of power management products.
No. of Employees :	Approximately 50 (Office 10, Factory 40)

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 41000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track records. 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. Latest Profit and Loss of the company is not available.

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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
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 :	Mr. Manoj
Designation :	Accounts Department
Contact No.:	91-11-25928777
Date :	08.10.2011

LOCATIONS

Registered Office/ Factory :	26 Najafgarh Road, Industrial Area, New Delhi – 110 015
Tel. No.:	91-11-25928777 / 41428868
Mobil No.:	91-9873161519 (Mr. Ashok Khanna)
Fax No.:	91-11-25928663
E-Mail :	vener7@airtelbroadband.in vener7@vsnl.com

DIRECTORS

As on 30.09.2010

Name :

Mr. Ashok Kumar Khanna

Designation :

Managing Director

Address :

R/o, House No. 9, Road No. 81, Punjabi Bagh, new Delhi – 110 026, India

Date of Birth/Age :

09.10.1955

Date of Appointment :

10.04.2009

DIN No.:

00193300

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	U74899DL1990PTC042478	Hindustan Power Products Private Limited	Managing director	10/04/2009	24/12/1990	-	Active	NO
2	U74899DL1991PTC043540	Kamaro Chits Private Limited	Director	19/03/1991	19/03/1991	-	Strike off	NO
3	U74899DL1995PLC065743	Kamaro Helpline Limited	Director	23/02/1995	23/02/1995	-	Strike off	NO
4	U29255DL2007PLC161104	Indian Transelectric Company Limited	Director	26/03/2007	26/03/2007	-	Active	NO

Name :

Mrs. Asha Khanna

Designation :

Director

Address :

R/o, House No. 9, Road No. 81, Punjabi Bagh, new Delhi – 110 026, India

Date of Birth/Age :

13.01.1961

Date of Appointment :

24.12.1990

DIN No.:

01799838

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	U74899DL1990PTC042478	HINDUSTAN POWER PRODUCTS PRIVATE LIMITED	Director	24/12/1990	24/12/1990	-	Active	NO
2	U74899DL1991PTC043540	KAMARO CHITS PRIVATE LIMITED	Director	01/03/1997	01/03/1997	-	Strike off	NO
3	U29255DL2007PLC161104	INDIAN TRANSELECTRIC COMPANY LIMITED	Director	26/03/2007	26/03/2007	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manoj
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders		No. of Shares
Ashok Kumar Khanna		8861
Asha Khanna		1011
Veena Kumari		1
Rabik Exports Limited, New Delhi, India		2000
Ram Babu Sharma		700
Sneh Lata		700
T.L. Sondhi		800
Vikas Aggarwal		800
	Total	14873

Equity Share Breakup (Percentage of Total Equity)

AS ON : 30.09.2010

Category		Percentage of Holding
Bodies corporate		13.44
Directors or relatives of directors		66.39
Others		20.17
	Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacture, Supply and Export a wide range of power management products.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :	End Users Embassy and Multi National Companies · ABN- Amro Bank · NOKIA · NESTLE (India) · American Embassy Government and Semi Government Departments · Air-India · All India Radio/ Akashwani and Doordarshan, New Delhi · Apparel Export Promotion Corp Medical Institute and Hospitals (Apollo Hospital) · All India Institute of Medical Sciences (AIIMS), New Delhi · Apollo Hospital · Dr. R.P. Eye Centre, New Delhi · Eye Hospital, Sitapur Pharmaceutical · Almed Laboratories Private Limited · Alpha Drugs and Pharmaceuticals · Eastern Capsulapion Private Limited · Eastern Healthcare Commercial Establishments · ABC Nakufreight Limited, New Delhi · Amtek Auto Limited · Ballarpur Industries Limited · Bhatinda Chemicals Limited Builders · A Infrastructure Limited · Advance India Projects Limited · Ambika Holding Private Limited · Ansal Plaza Telecommunication · Bharti Airtel Limited · Centre for Development of Telematics · DISNET · Himachal Futuristic Corp. Limited News Papers · Hindustan Times · Times of India · Indian Express · Delhi Press Limited Publishers and Printers · Ajanta Offset and Packaging Limited, New Delhi · Allied Printers, New Delhi · Amritsar Printing Press, New Delhi · B.B. N. Printers · Captain Offset Press Laboratories and Educational Institute · Centre for Management Development · CSIR Centre for Biochemical, New Delhi · Delhi Institute of Technology, New Delhi Exporters · Chintoo Creation · Chunnu International · Deeman International · Engee Fabrics Private Limited Farm Houses · Dolphin Farms Private Limited · Dr. Dale Huntington · Khanna Farms · Khurana Farm
No. of Employees :	Approximately 50 (Office 10, Factory 40)
Bankers :	· State Bank of Bikaner and Jaipur · HSBC Bank, New Delhi, India · State Bank of India, New Delhi, India
Banking Relations :	----
Auditors :
Name :	Vineet Ojha and Company Chartered Accountants
Address :	620, Kirti Shikhar, District Centre, Janakpuri, New Delhi – 110 0528, India
Tel. No.:	91-11-41588632
PAN No.:	AAAPO1172D
Associates/Subsidiaries :	Indian Transelectric Company Limited, New Delhi, India

CAPITAL STRUCTURE

As on: 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs. 100/- each	Rs. 5.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14873	Equity Shares	Rs. 100/- each	Rs. 1.487 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		1.487	0.987	0.987
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		8.921	3.945	3.825
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		10.408	4.932	4.812
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		10.408	4.932	4.812
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.228	3.477	3.763
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.181	0.185	0.166
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.109	2.020	2.113
	Sundry Debtors	2.969	0.177	2.952
	Cash & Bank Balances	6.621	3.268	0.695
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.080	0.135	0.354
Total Current Assets		11.779	5.600	6.114
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.379	0.000	4.374
	Other Current Liabilities	4.122	3.449	0.123
	Provisions	1.279	0.881	0.734
Total Current Liabilities		5.780	4.330	5.231
Net Current Assets		5.999	1.270	0.883
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		10.408	4.932	4.812

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Turnover/ Income	NA	24.206	NA
	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses	NA	24.086	NA
		Financial Charges
		Depreciation
		TOTAL	NA	24.086	NA
	PROFIT BEFORE TAX		NA	0.248	NA
Less	TAX		NA	0.128	NA
	PROFIT AFTER TAX		NA	0.120	NA
	IMPORTS
		Import Value	6.676	3.980	Nil
	TOTAL IMPORTS		6.676	3.980	Nil
	Earnings Per Share (Rs.)		--	12	--

Particulars	31.03.2011
Sales Turnover (Approximately)	30.000

The above information has been parted by Mr. Manoj (Accounts Departments)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	NA	2.73	NA
Return on Investment (ROI) (PBT/Networth)		NA	0.05	NA
Debt Equity Ratio (Total Liability/Networth)		0.56	0.88	1.09
Current Ratio (Current Asset/Current Liability)		2.04	1.29	1.17

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	No
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 year	Yes (1 year)
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 concern	Yes
Major Suppliers	No
Major Customers	Yes
Payment Terms	Yes
Export/ Import Details (If applicable)	No
Market Information	--
Litigations that the firm/ Promoter involved in	--
Banking Details	Yes
Banking Facility details	No
Conduct of the banking account	--
Buyer visit details	--
Financials, fi provided	No
Incorporation details, if applicable	--
Last accounts filed at ROC	--
Major Shareholders , if available	--

financial results:-

The company’s has increased its turnover and has earned profits during the year.

fixed assets:-

· Cars

· Computers

· EPABX

· Factory Buildings

· Machinery

· Generator

· Photocopier

· Scooter

· Water Dispenser

· Fax Machine

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] 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.49.03
UK Pound	1	Rs.76.60
Euro	1	Rs.66.80

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	no
--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.