MIRA INFORM REPORT

Report Date :

08.09.2011

IDENTIFICATION DETAILS

Name :	NAHATA DATA PRODUCTS PRIVATE LIMITED
Formerly Known As :	NAHATA DISTRIBUTORS PRIVATE LIMITED (w.e.f.19.08.2000) BALOTRA METALS PRIVATE LIMITED
Registered Office :	15, Dhanji Street, White House, 2^nd Floor, Mumbai – 400 002, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	11.06.1997
Com. Reg. No.:	11-108703
Capital Investment / Paid-up Capital :	Rs. 1.500 Millions
CIN No.: [Company Identification No.]	U27201MH1997PTC108703
TAN No.: [Tax Deduction & Collection Account No.]	MUMB07410E
PAN No.: [Permanent Account No.]	AAACB4257B
Legal Form :	Private Limited Liability Company
Line of Business :	Distributor of Computer Peripherals and Hardware, Consumables.
No. of Employees :	12 (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 37000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well 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 good for normal 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.

INFORMATION PARTED BY

Name :	Mr. Vivek Nahata
Designation :	Director
Contact No.:	91-9819068366
Date :	08.09.2011

LOCATIONS

Registered Office :	15, Dhanji Street, White House, 2^nd Floor, Mumbai – 400 002, Maharashtra, India
Tel. No.:	91-22-23425382
Mobile No.:	91-9819068366 (Mr. Vivek Nahata)
Fax No.:	91-22-23443156
E-Mail :	nahatadata@gmail.com nahata@bom5.vsnl.net.in
Area :	1000 Sq. ft.
Location :	Owned

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Mahavir C. Nahata
Designation :	Director
Address :	15, Dhanji Street, White House, Mumbai – 400 003, Maharashtra, India
Date of Birth/Age :	08.01.1966
Qualification :	B.Com
Date of Appointment :	11.06.1997
DIN No :	00464957
Name :	Mr. Rajendra C. Nahata
Designation :	Director
Address :	15, Dhanji Street, White House, Mumbai – 400 003, Maharashtra, India
Date of Birth/Age :	31.12.1961
Qualification :	B.Com
Date of Appointment :	11.06.1997
DIN No :	00464725
Name :	Mr. Ashok C. Nahata
Designation :	Director
Address :	15, Dhanji Street, White House, Mumbai – 400 003, Maharashtra, India
Date of Birth/Age :	07.01.1958
Qualification :	B.Com
Date of Appointment :	17.10.2001
DIN No :	00464939
Name :	Mr. Vivek Ashok Nahata
Designation :	Director
Address :	15, Dhanji Street, White House, Mumbai – 400 003, Maharashtra, India
Date of Birth/Age :	08.04.1984
Qualification :	B.Com
Date of Appointment :	16.10.2002
DIN No :	00464763

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Mahavir Champalal Nahata	25000
Rajendra C Nahata	25000
Ashok C Nahata	69989
Champalal L Nahata	10000
Bidamidevi C Nahata	10000
Vimla Ashok Nahata	2000
Priyadarshni R Nahata	2000
Mamta M Nahta	2000
Pooja A Nahata	2000
Vivek A Nahata	2000
Kishankumar Nahata Jointly with Dhanraj Nahata	1
Jagdamba P. Pandey	1
Jagdamba P. Pandey Jointly with Srikant R. Shah	1
Vipul N. Pathak	1
Mahendrakumar Gheesulalji	1
Rushi C. Parikh	1
Pukhraj Talesara	1
Inderchand Parekh Vakatwarmal Balar Bharatkumar Balar Lalitaben Balar	1
Deoraj Talesara	1
Ashok Bafna	1
Bansilal Jain	1
Total	150000

AS ON 30.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Distributor of Computer Peripherals and Hardware, Consumables.
Agencies Held :	· HP · Samsung · Moserbear · Canon
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Customers :

· Wholesalers

No. of Employees :

12 (Approximately)

Bankers :

· The Greater Bombay Co-operative Bank Limited, GBCB House, 89, Bhuleshwar, Mumbai – 400 002, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
The GBCB Limited –CC Account	29.286	26.580
The GBCB Limited – Against FDR	5.124	7.319
Total	34.410	33.899
Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
From Directors and Shareholders	21.461	14.765
Total	21.461	14.765

Banking Relations :	--
Auditors :
Name :	Jayendra R Parikh and Company Chartered Accountant
Address :	705/706, Siddharth Tower, Kastur Park, Shimpoli Road, Borivali (West), Mumbai – 400 092, Maharashtra, India
Tel. No.:	91-22-28988979
Sister Concern :	Nahata Asset Management Services Address: 15, Dhanji Street, White House, 2^nd Floor, Mumbai – 400 002, Maharashtra, India Line of Business: Distributor of Computer Peripherals and Hardware, Consumables. Nahats Texco Address: 15, Dhanji Street, White House, 2^nd Floor, Mumbai – 400 002, Maharashtra, India Line of Business: Distributor of Computer Peripherals and Hardware, Consumables.

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs. 1.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs. 1.500 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		1.500	1.500	1.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		7.786	6.728	5.254
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		9.286	8.228	6.754
LOAN FUNDS
1] Secured Loans		34.410	33.899	29.618
2] Unsecured Loans		21.461	14.765	10.836
TOTAL BORROWING		55.871	48.664	40.454
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		65.157	56.892	47.208
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.718	0.704	0.835
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.948	0.820	0.982
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	35.048	37.078	33.475
	Sundry Debtors	39.490	31.619	30.430
	Cash & Bank Balances	6.177	8.523	7.136
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	19.626	15.431	6.617
Total Current Assets		100.341	92.651	77.658
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	35.344	36.517	31.588
	Other Current Liabilities	0.237	0.000	0.000
	Provisions	1.270	0.770	0.686
Total Current Liabilities		36.851	37.287	32.274
Net Current Assets		63.490	55.364	45.384
MISCELLANEOUS EXPENSES		0.001	0.004	0.007
TOTAL		65.157	56.892	47.208

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	312.545	312.433	296.324
		Other Income	0.628	0.657	0.383
		TOTAL (A)	313.173	313.090	296.707
Less	EXPENSES
		Cost of Goods Sold	294.561	294.740	282.163
		Administrative Expenses	9.946	9.240	8.024
		Preliminary Expenses	0.003	0.003	0.003
		TOTAL (B)	304.510	303.983	290.190
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		8.663	9.107	6.517
Less	FINANCIAL EXPENSES (D)		6.956	6.659	4.167
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.707	2.448	2.350
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.150	0.184	0.192
	PROFIT BEFORE TAX (E-F) (G)		1.557	2.264	2.158
Less	TAX (I)		0.500	0.770	0..715
	PROFIT AFTER TAX (G-I) (J)		1.057	1.494	1.443
Less	PRIOR PERIOD ADJUSTMENTS OF TAX		0.000	0.020	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6.728	5.254	3.811
	BALANCE CARRIED TO THE B/S		7.785	6.728	5.254
	Earnings Per Share (Rs.)		7.05	9.83	9.82

Particulars	31.03.2011
Sales Turnover (Approximately)	365.000

The above information has been parted by Mr. Vivek Nahata.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.34	0.47	0.49
Net Profit Margin (PBT/Sales)	(%)	0.50	0.72	0.73
Return on Total Assets (PBT/Total Assets}	(%)	1.54	2.43	2.75
Return on Investment (ROI) (PBT/Networth)		0.17	0.28	0.32
Debt Equity Ratio (Total Liability/Networth)		9.99	10.45	10.77
Current Ratio (Current Asset/Current Liability)		2.72	2.48	2.41

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS

(Rs. In Millions)

SOURCES OF FUNDS	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors for Goods	34.738	36.337	31.223
Sundry Creditors for Expenses	0.606	0.180	0.365
Total	35.344	36.517	31.588

FINANCIAL RESULTS

During the period, the company has earned a Net Profit After Taxation of Rs. 1.057 Millions (Previous Year : Net Profit After Taxation Rs. 1.474 Millions).

FORM 8

Corporate identity number of the company	U27201MH1997PTC108703
Name of the company	NAHATA DATA PRODUCTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	15, Dhanji Street, White House, 2^nd Floor, Mumbai – 400 002, Maharashtra, India
This form is for	Modification of charge
Charge identification number of the modified	80021143
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	The Greater Bombay Co-operative Bank Limited, GBCB House, 89, Bhuleshwar, Mumbai – 400 002, Maharashtra, India
Nature of description of the instrument creating or modifying the charge	a) Facility Agreement ; and b) Supplemental Agreement. (Collectively constitute a single charge for Rs.42.000 millions)
Date of instrument Creating the charge	23.02.2010
Amount secured by the charge	Rs.42.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest @ 13% p.a. at monthly rest. Terms of Repayment On Demand Margin 30% against Stocks ; and 40% against Receivable. Extent and Operation of the charge The Company Hypothecated Stocks, Book Debts, Plant and Machinery by way of First charge as stated in Item No.15 below, as security for the repayment of Credit facility of Rs.42.000 millions, together with interest, costs, charges, expenses etc.
Short particulars of the property charged	Hypothecation of Stock, Book-Debts/Receivable of the Company. Hypothecation of Plant and Machinery, Furniture and Fixture of the Company.
Date of latest modification prior to the present modification	09.02.2008
Particulars of the present modification	The charge now stands increased from Rs.32.000 millions to Rs.42.000 millions (Comprising : Cash Credit facility of Rs.40.000 millions and Withdrawal Against Effect Facility of Rs.2.000 millions).

TRADE REFERENCE:

· Technimans ICB Private Limited, Mumbai

· Shapoarji Pallonji and Company Limited

FIXED ASSETS

· Computer Systems

· Fax Machines

· Motor Car

· Motor Van

· Motor Cycle

· Scooter

· EPBX Telephone

· Motor Car (Accent)

· Computer Program

· Motor Car (Hyundai)

· Office Equipment

· Office Furniture

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. 46.02
UK Pound	1	Rs. 73.60
Euro	1	Rs. 64.77

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.