MIRA INFORM REPORT

Report Date :

18.10.2011

IDENTIFICATION DETAILS

Name :	CHANDRA HELICON PUMPS PRIVATE LIMITED
Registered Office :	113/172, Swaroop Nagar, Kanpur-208001, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	15.01.1986
Com. Reg. No.:	20-7631
Capital Investment / Paid-up Capital :	Rs.0.300 Million
CIN No.: [Company Identification No.]	U27202UP1986PTC007631
TAN No.: [Tax Deduction & Collection Account No.]	KNPC01168G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Industrial Pumps.
No. of Employees :	50 (In Office 10) (In Factory 40)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 60828
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some losses being incurred by the company in the current year i.e. 2009-10. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. Company can be considered for business dealings with some caution.

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. Rajiv Gupta
Designation :	Director
Contact No.:	91-9336104811
Date :	14.10.2011

LOCATIONS

Registered Office :	113/172, Swaroop Nagar, Kanpur-208001, Uttar Pradesh, India
Tel. No.:	91-512-2691554
Mobile No.:	91-9336104811 (Mr. Rajiv Gupta)
Fax No.:	91-512-2691235
E-Mail :	info@heliconpumps.co.in / caalokknp@gmail.com
Website :	www.heliconpumps.co.om
Area :	800 sq. ft.
Location :	Owned
Factory 1 :	H-68, Panki Industrial Area, Site No. 1, Kanpur-208022, Uttar Pradesh, India.
Area :	800 sq. meter
Location :	Owned

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Avinash Chandra Gupta
Designation :	Director
Address :	113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India
Date of Birth/Age :	08.10.1950
Date of Appointment :	15.01.1986

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	U27202UP1986PTC007631	CHANDRA HELICON PUMPS PRIVATE LIMITED	Director	15/01/1986	15/01/1986	-	Active	NO

Name :	Mr. Rajiv Gupta
Designation :	Director
Address :	113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India
Date of Birth/Age :	05.12.1962
Qualification :	B.Sc (LLB)
Date of Appointment :	02.08.2005

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	U67120UP1992PTC014502	SRA MARKETING AND CONSULTANTS PRIVATE LIMITED	Director	25/06/1992	25/06/1992	-	Active	NO
2	U27202UP1986PTC007631	CHANDRA HELICON PUMPS PRIVATE LIMITED	Director	02/08/2005	02/08/2005	-	Active	NO

Name :	Mrs. Neeta Gupta
Designation :	Director
Address :	113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India
Date of Birth/Age :	24.04.1963
Qualification :	BA
Date of Appointment :	02.08.2005

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	U27202UP1986PTC007631	CHANDRA HELICON PUMPS PRIVATE LIMITED	Additional director	02/08/2005	02/08/2005	-	Active	NO

Name :	Mr. Santosh Chandra Gupta
Designation :	Director
Address :	113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India
Date of Birth/Age :	20.03.1954
Qualification :	Graduate
Date of Appointment :	16.07.2001

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	U27202UP1986PTC007631	CHANDRA HELICON PUMPS PRIVATE LIMITED	Director	16/07/2001	16/07/2001	-	Active	NO

Name :	Mr. Suresh Chandra Gupta
Designation :	Director
Address :	113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India
Date of Birth/Age :	29.12.1936
Qualification :	Post Graduate
Date of Appointment :	15.01.1986

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	U27202UP1986PTC007631	CHANDRA HELICON PUMPS PRIVATE LIMITED	Director	15/01/1986	15/01/1986	-	Active	NO
2	U67120UP1992PTC014502	SRA MARKETING AND CONSULTANTS PRIVATE LIMITED	Director	25/06/1992	25/06/1992	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Suresh Chandra Gupta	1700
Ramesh Chandra Gupta	1100
Satish Chandra Gupta	1000
Avinash Chandra Gupta	1500
Anuradha Gupta	700
Uma Gupta	1200
Rajlaxmi Gupta	500
Pramila Gupta	1500
Rama Gupta	1500
Geeta Gupta	500
Santosh Chandra Gupta	1500
Akhilesh Chandra Gupta	1500
Sarvesh Chandra Gupta	500
Ramkali Gupta	400
Sudhir Gupta	1200
Rajesh Gupta	200
Alok Gupta	1200
Alpana Gupta	1200
Neeta Gupta	1200
Rajiv Gupta	1200
Surabhi Gupta	1200
Amaranth Gupta	1000
Amit Gupta	500
Anjana Gupta	1000
Ashok Kumar Shukla	1000
Prateek Omar	1000
Ram Kumar Gupta	1000
Sachin Gupta	1000
Shiv Gopal Gupta	1000
Total	30000

AS ON 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	96.67
Other top fifty shareholders	3.33
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Industrial Pumps.
Products :	v Helicon Single Screw Pump v Helicon Single Screw Open Mouth Pump v Helicon Single Screw Motorised Barrel Pump v Helicon Triple Action Macerator Pump v Helicon Resetting Type (Adjustable) Stator v Helicon Pneumatic Barrel Pump
Exports :
Products :	Industrial Pumps
Countries :	Nepal Bangladesh
Terms :
Selling :	L/C / Cash / Credit

GENERAL INFORMATION

Customers :

Consumers

No. of Employees :

50 (In Office 10) (In Factory 40)

Bankers :

Bank of Baroda, SSI Branch, Sarvodaya Nagar, Kanpur-208005, Uttar Pradesh, India.

Facilities :

SECURED LOAN	AS ON 31.03.2010 (RS. IN MILLIONS)	AS ON 31.03.2009 (RS. IN MILLIONS)
The ICICI Limited (Secured against hypothecation of car)	0.000	0.121
Bank of Baroda (Secured against hypothecation of car)	0.213	0.000
Total	0.213	0.121
Unsecured Loan
From shareholders and relatives	3.810	3.016
Director in current a/c	0.476	0.333
Total	4.286	3.349

Banking Relations :	--
Auditors :
Name :	A N Singh and Associates Chartered Accountant
Address :	119/64-A, Naseema Road, Kanpur-208012, Uttar Pradesh, India.

CAPITAL STRUCTURE

AS ON 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	Rs.10/- each	Rs.0.300 Million

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		0.300	0.300	0.300
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.862	2.885	2.713
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.162	3.185	3.013
LOAN FUNDS
1] Secured Loans		0.213	0.121	0.350
2] Unsecured Loans		4.286	3.349	2.852
TOTAL BORROWING		4.499	3.470	3.202
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.661	6.655	6.215
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.644	2.842	2.892
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.100	0.100	0.100
DEFERREX TAX ASSETS		0.146	0.130	0.089
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.728	3.678	2.488
	Sundry Debtors	1.258	1.184	1.467
	Cash & Bank Balances	0.596	1.332	1.129
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.002	2.603	2.101
Total Current Assets		9.584	8.797	7.185
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.107	1.707	0.566
	Other Current Liabilities	1.123	0.931	1.196
	Provisions	2.583	2.576	2.289
Total Current Liabilities		4.813	5.214	4.051
Net Current Assets		4.771	3.583	3.134
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.661	6.655	6.215

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	15.142	14.562	14.244
		Other Income	0.065	0.054	0.000
		TOTAL (A)	15.207	14.616	14.244
Less	EXPENSES
		Purchase for Trading	0.413	0.000	0.000
		Raw material consumed	2.313	2.238	1.881
		Manufacturing, administrative and selling overhead	11.798	11.320	10.753
		Increase or decrease in stock	(0.325)	(0.276)	(0.078)
		TOTAL (B)	14.199	13.282	12.556
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.008	1.334	1.688
Less	FINANCIAL EXPENSES (D)		0.575	0.488	0.421
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.433	0.846	1.267
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.466	0.506	0.511
	PROFIT BEFORE TAX (E-F) (G)		(0.033)	0.340	0.756
Less	TAX (H)		(0.010)	0.168	0.314
	PROFIT AFTER TAX (G-H) (I)		(0.023)	0.172	0.442
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.882	2.710	2.268
	BALANCE CARRIED TO THE B/S		2.858	2.882	2.710
	Earnings Per Share (Rs.)		--	5.73	14.73

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(0.15)	1.18	3.10
Net Profit Margin (PBT/Sales)	(%)	(0.22)	2.33	5.31
Return on Total Assets (PBT/Total Assets}	(%)	(0.27)	2.92	7.50
Return on Investment (ROI) (PBT/Networth)		(0.01)	0.11	0.25
Debt Equity Ratio (Total Liability/Networth)		2.94	2.73	2.41
Current Ratio (Current Asset/Current Liability)		1.99	1.69	1.77

LOCAL AGENCY FURTHER INFORMATION

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U27202UP1986PTC007631
Name of the company	CHANDRA HELICON PUMPS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	113/172, Swaroop Nagar, Kanpur-208001, Uttar Pradesh, India
Type of charge	Movable Property (not being pledge)
Particular of charge holder	Bank of Baroda, SSI Branch, Sarvodaya Nagar, Kanpur-208005, Uttar Pradesh, India.
Email	ssikan@bankofbaroda.co.in
Nature of description of the instrument creating or modifying the charge	Instrument of hypothecation of vehicle in LDOC 20
Date of instrument Creating the charge	06.04.2009
Amount secured by the charge	Rs.0.250 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 2.25% below the prime lending rate of bank per annum Terms of Repayment 60 EMI of Rs.0.005 million each Margin RS.0.048 million. Extent and Operation of the charge 100% of Rs.0.250 million against spark Chevrolet car
Short particulars of the property charged	Spark Chevrolet car lying at h 68 Panki Industrial Area site 1 Kanpur

Fixed Assets:

• Land
• Building
• Car
• Computer
• Furniture
• Generator
• Machines
• Office Equipments
• Tools and Implements
• Tubewell
• Vehicles

Trade References:

• Ruchi Soya Industries
• Birla Nak Limited

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.48.89
UK Pound	1	Rs.77.31
Euro	1	Rs.67.78

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--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		31

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.