MIRA INFORM REPORT

Report Date :

18.10.2011

IDENTIFICATION DETAILS

Name :	SUYASH IMPEX PRIVATE LIMITED
Registered Office :	101, Naman – 22, Dadabhai Road, Near Tahsildar Office, Andheri [West], Mumbai – 400058, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	30.11.1999
Com. Reg. No.:	11-122841
Capital Investment / Paid-up Capital :	Rs.0.810 Million
CIN No.: [Company Identification No.]	U51900MH1999PTC122841
TAN No.: [Tax Deduction & Collection Account No.]	MUMS45171A
PAN No.: [Permanent Account No.]	AADCS9512M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Trader, Importer and Exporter of Sheet Metal Pressed Components, Automotive Spares and Fence Fittings.
No. of Employees :	70 (Approximately) (In Office – 10 and In Factory – 60)

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 28000
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. Subhash Yeshwant Chapekar
Designation :	Director
Contact No.:	91-9820032396
Date :	12.10.2011

LOCATIONS

Registered Office :	101, Naman – 22, Dadabhai Road, Near Tahsildar Office, Andheri [West], Mumbai – 400058, Maharashtra, India
Tel. No.:	91-22-28505667/ 26526861/ 26282592
Mobile No.:	91-9820032396 (Mr. Subhash)
Fax No.:	91-22-26528546
E-Mail :	suimpex@vsnl.com info@suyashimpex.com amol@pegasusmarkcomm.net roc.pjsassociates@gmail.com subhash@suyashimpex.com
Website :	http://suyashimpex.com
Location :	Owned
Corporate Office/ Factory 1 :	G-10, Zakaria Industrial Premises, Marol Maroshi Road, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-29252745 / 66910321
Fax No.:	91-22-29208162
Factory 2:	20/ Floor 1, Swastik Industrial Street, 178 Vidyanagari Marg, Kalina, Mumbai – 400098, Maharashtra, India
Tel. No.:	91-22-26526861/ 8289
Fax No.:	91-22-26528546

DIRECTORS

(AS ON 30.09.2010)

Name :

Mr. Subhash Yeshwant Chapekar

Designation :

Director

Address :

101, Naman – 22, Dadabhai Road, Near Tahsildar Office, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Birth/Age :

13.01.1951

Qualification :

BE

Date of Appointment :

30.11.1999

DIN No.:

01521078

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	U29220MH1992PTC069460	SHAPEWELL ENTERPRISES PRIVATE LIMITED	Director	06-11-92	06-11-92	Active	NO
2	U51900MH1999PTC122841	SUYASH IMPEX PRIVATE LIMITED	Director	30-11-99	30-11-99	Active	NO
3	U72900MH2001PTC133380	ASYMMETRIQUE COMMUNICATIONS PRIVATE LIMITED	Director	17-09-01	17-09-01	Active	NO
4	U27107MH2007PTC173155	SUYASH MINERALS METALS AND ALLOYS PRIVATE LIMITED	Director	16-08-07	16-08-07	Active	NO
5	U74990MH2009PTC196629	PEGASUS INTERACTIVE PRIVATE LIMITED	Director	01-03-11	01-03-11	Active	NO
6	U74940MH2009PTC195839	BROOOMSTICKS PRODUCTIONS PRIVATE LIMITED	Director	01-03-11	01-03-11	Active	NO

Name :

Mrs. Neeta Subhash Chapekar

Designation :

Director

Address :

101, Naman – 22, Dadabhai Road, Near Tahsildar Office, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Birth/Age :

04.05.1954

Qualification :

BA

Date of Appointment :

30.11.1999

DIN No.:

01474573

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	U29220MH1992PTC069460	SHAPEWELL ENTERPRISES PRIVATE LIMITED	Director	06-11-92	06-11-92	Active	NO
2	U51900MH1999PTC122841	SUYASH IMPEX PRIVATE LIMITED	Director	30-11-99	30-11-99	Active	NO

Name :

Mrs. Tejasvi Chapekar

Designation :

Director

Address :

101, Naman – 22, Dadabhai Road, Near Tahsildar Office, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Birth/Age :

18.05.1981

Qualification :

B. Com

Date of Appointment :

30.09.2009

DIN No.:

02792576

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
Subhash Yeshwant Chapekar	7000
Neeta Subhash Chapekar	500
Tejasvi Chapekar	600
Total	8100

(AS ON 30.09.2010)

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader, Importer and Exporter of Sheet Metal Pressed Components, Automotive Spares and Fence Fittings.
Products :	· Sheet Metal Components · Small Sheet Metal Parts and Stampings · Fence Fittings and Accessories · Fence Posts Steel · Precision Turned / CNC Machined Components · Electromechanical Assemblies

GENERAL INFORMATION

No. of Employees :

70 (Approximately) (In Office – 10 and In Factory – 60)

Bankers :

· State Bank of India

Andheri (West) Branch, Mumbai – 400058, Maharashtra, India

· ICICI Bank

Brach Andheri (West), Mumbai, Maharashtra, India

· HDFC Bank Limited

HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Facilities :

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
State Bank of India – Bill Discounting A/c	0.000	2.660
ICICI Bank – Bill Discounting A/c	10.500	0.000
ICICI bank Car Loan – Honda City Car	0.088	0.334
Total	10.588	2.994
Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
Subhash Y. Chaphekar	0.000	0.000
Neeta S. Chaphekar	0.000	0.015
Amol C. Chaphekar	0.000	0.073
Kanchan S. Chaphekar	0.000	0.144
Total	0.000	0.232

Banking Relations :	--
Auditors :
Name :	Sailesh Gandhi and Company Chartered Accountants
Address :	8/1/2, Mount View, Plot No. 8, Bhawani Nagar, Marol Maroshi Road, Marol, Andheri (East), Mumbai – 400059, Maharashtra, India
PAN No.:	AARPG8885G

CAPITAL STRUCTURE

(AS ON 30.09.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Share	Rs.100/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8100	Equity Shares	Rs.100/- each	Rs.0.810 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		0.810	0.810	0.810
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		6.077	4.689	3.605
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		6.887	5.499	4.415
LOAN FUNDS
1] Secured Loans		10.588	2.994	8.450
2] Unsecured Loans		0.000	0.232	1.147
TOTAL BORROWING		10.588	3.226	9.597
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		17.475	8.725	14.012
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.953	1.814	2.037
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.081	0.781	0.025
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.128	0.000	0.000
	Sundry Debtors	20.998	4.178	10.998
	Cash & Bank Balances	0.393	1.647	0.989
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.381	1.859	1.821
Total Current Assets		23.900	7.684	13.808
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	8.566	0.270	1.146
	Other Current Liabilities	0.191	0.602	0.010
	Provisions	0.707	0.688	0.710
Total Current Liabilities		9.464	1.560	1.866
Net Current Assets		14.436	6.124	11.942
MISCELLANEOUS EXPENSES		0.005	0.006	0.008
TOTAL		17.475	8.725	14.012

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009	31.03.2008
	Income From Operations	64.873	68.186	55.922
	PROFIT BEFORE TAX	2.101	1.842	1.777
Less	TAX	0.707	0.688	0.710
	PROFIT AFTER TAX	1.394	1.154	1.067
	EARNINGS IN FOREIGN CURRENCY	64.596	68.437	55.879
	Earnings Per Share (Rs.)	172.10	--	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	8.13	19.39	11.21
Return on Investment (ROI) (PBT/Networth)		0.31	0.33	0.40
Debt Equity Ratio (Total Liability/Networth)		2.91	0.87	2.60
Current Ratio (Current Asset/Current Liability)		2.53	4.93	7.40

LOCAL AGENCY FURTHER INFORMATION

CURRENT YEARS OUTLOOK

The company has satisfactory bid for order from engineering goods. Export sales traction in foreign currency outlook for the years is bright. The company is short listed for the trading activity of Engineering goods and export the as well.

FORM 8:

Name of the company	SUYASH IMPEX PRIVATE LIMITED
Presented By	State Bank of India, Andheri (West) Branch, Mumbai
1) Date and description of instrument creating the change	Agreement of Loan- Cum- Hypothecation dated 08.10.2005
2) Amount secured by the charge/amount owing on the securities of charge	Rs.1.500 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	All present and future stocks, raw materials goods, book debts and vehicles and all other movable assets of the Borrowers including receivables, documents of title to goods, outstanding monies, bills, invoices documents contracts, insurance policies, guarantees, engagements, securities, investments and rights and the present machinery and all the future machinery belonging to or in the possession or control of the Borrowers wherever lying stored and kept and whether in possession of the borrowers or of the bank or of any third party whether in India or elsewhere including all such goods, vehicles, other movable assets as may be in the course of shipment, transit or delivery and all the machinery, vehicles and other equipment items of whatever nature acquired by the borrowers.
4) Gist of the terms and conditions and extent and operation of the charge.	ROT: As would be determined by the Bank from time to time.
5) Name and Address and description of the person entitled to the charge.	State Bank of India, Andheri (West) Branch, Mumbai
6) Date and brief description of instrument modifying the charge	NA
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	NA

Corporate identity number of the company	U51900MH1999PTC122841
Name of the company	SUYASH IMPEX PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	101 Naman -22 Dadabhai Rdnear Tahsildar Office, Andheri West, Mumbai – 400058, Maharashtra, India info@suyashimpex.com
This form is for	Creation of charge
Type of charge	Book debts Others: current assets, both present and future
Particular of charge holder	3i Infotech Trusteeship Services Limited 6th floor, Akruti Center Point, MIDC Central Road, Next to Marol Telephone Exchange, Andheri, East, Mumbai – 400093, Maharashtra, India prashant.joshi@3i-itsl.com
Nature of instrument creating charge	Deed of Hypothecation
Date of instrument Creating the charge	24.12.2009
Amount secured by the charge	Rs.10.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interests: FBD/FBP: IBAR (15.75%) + 6mth Term Premia (-0.2%)+ Liquidity Premia (-2%)-4.55% current pricing of 9.0% p.a. For OD: IBAR (15.75%) + CC Premia (0.5%)-3.25%, current pricing 13.0%. Terms of Repayment: For OD and FBD/ FBP: On Demand Margin: Not Applicable Extent and Operation of the charge: Exclusive charge by way of hypothecation of the company's entire stocks of raw materials, semi-finished and finished goods, consumable stores and spares and such other movables including book-debts, bills whether documentary or clean, outstanding monies, receivables, both present and future
Particulars of the property charged	Exclusive charge by way of hypothecation of the company's entire stocks of raw materials, semi-finished and finished goods, consumable stores and spares and such other movables including book-debts, bills whether documentary or clean, outstanding monies, receivables, both present and future.

FIXED ASSETS:

· Furniture and Fixture

· Motor Car

· Scooter/ Scooty

· Air Conditioner

· Fax Machine

· Machine

· Computers

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.67.79

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	YES
--AFFILIATION	YES/NO	NO
--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.