MIRA INFORM REPORT

Report Date :

20.09.2011

IDENTIFICATION DETAILS

Name :	ANKUR TRADERS AND ENGINEERS PRIVATE LIMITED
Registered Office :	R-29, Back Sidemodel Town, 3^rd Stop, New Delhi – 110009, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	07.09.2000
Com. Reg. No.:	55-107583
Capital Investment / Paid-up Capital :	Rs.0.830 Million
CIN No.: [Company Identification No.]	U23209DL2000PTC107583
TAN No.: [Tax Deduction & Collection Account No.]	DELA11243B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of A.C Generators and Generating Sets.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 4408
Status :	Small Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company in its filed. Its scale of activities are limited/. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The 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 – 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 :	Mr. Ashok Mahendru
Designation :	Director
Contact No.:	91-9958854455
Date :	10.09.2011

LOCATIONS

Registered Office :	R-29, Back Sidemodel Town, 3^rd Stop, New Delhi – 110009, Delhi, India
Tel. No.:	91-120-2705440
Mobile No.:	91-9958854455 (Mr. Ashok Mahendru)
Fax No.:	91-120-2705441
E-Mail :	dgsetankur@yahoo.co.in rkm.co@yahoo.com
Location :	Owned
Factory :	D-130, B.S. Road, Industrial Area, Site-1, Ghaziabad-201009, Uttar Pradesh, India
Tel. No.:	91-120-2705440/ 2705441/ 2851840/ 2853582/ 4156669
Fax No.:	91-120-2705441

DIRECTORS

As on 30.09.2010

Name :	Mr. Ashok Mahendru
Designation :	Managing Director
Address :	A-16, Ashok Nagar, Ghaziabad – 201001, Uttar Pradesh, India
Date of Birth/Age :	52 Years
Qualification :	Graduate
Date of Appointment :	15.07.2002
DIN No.:	01929146

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	U23209DL2000PTC107583	ANKUR TRADERS AND ENGINERS PRIVATE LIMITED	Managing director	15-07-02	15-07-02	-	Active	NO

Name :	Mr. Arun O. Mahendru
Designation :	Director
Address :	A-16, Ashok Nagar, Ghaziabad – 201001, Uttar Pradesh, India
Date of Birth/Age :	50 Years
Qualification :	Graduate
Date of Appointment :	17.09.2000
DIN No.:	01050780

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	U23209DL2000PTC107583	ANKUR TRADERS AND ENGINERS PRIVATE LIMITED	Director	17-09-00	17-09-00	-	Active	NO

Name :	Mrs. Suman Mahendru
Designation :	Director
Address :	A-16, Ashok Nagar, Ghaziabad – 201001, Uttar Pradesh, India
Date of Birth/Age :	49 Years
Qualification :	Graduate.
Date of Appointment :	17.09.2000
DIN No.:	01078663

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	U23209DL2000PTC107583	ANKUR TRADERS AND ENGINERS PRIVATE LIMITED	Director	17-09-00	17-09-00	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Arun O. Mahendru	25000
Suman Ashok Mahendru	14900
Sangeeta Arun Mahendru	2510
Ashok O. Mahendru	33910
Sanjay O. Gupta	100
Ashok Mahendru HUF	2500
Arun Mahendru HUF	4000
Subrat Tirkha	100
Total	83020

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others
Bodies corporate
Directors or relatives of Directors	99.70
Other top fifty shareholders	0.30
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of A.C Generators and Generating Sets.
Products :	v Generator v Alternator v Engines
Exports :
Products :	Generators
Countries :	Nepal
Terms :
Selling :	L/C, Cash / Credit ( 30 days )
Purchasing :	Cash / Credit ( 30 days )

PRODUCTION STATUS

As on 31.03.2010

Particulars	Unit	Actual Production
Pumpset, Engine etc.	Nos.	1045

GENERAL INFORMATION

Customers :

v Wholesales

v Retailers

v End Users

v OEM’s

No. of Employees :

50 (Approximately)

Bankers :

State Bank of India, RASMECCC Industrial Estate, B. S. Road, Gaziabad – 201009, Uttar Pradesh, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
A ) Cash Credit Limited from State Bank of India (Secured against Hypothecation of stocks)	1.628	1.794
B ) From State Bank of India (Secured against Hypothecation of car )	0.000	0.176
C ) From HDFC Bank (Secured against Hypothecation of car )	0.192	0.347
Total	1.820	2.317
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
(A) From Directors
- Arun Mahendru	0.008	0.388
- Suman Mahendru	0.287	0.181
- Ashok Mahendru	0.551	0.316
Total (A)	0.846	0.885
(B) From Others
- Ankur Mahendru	0.363	0.334
- Sanjay Gupta	0.100	0.100
- Arun Mahendru HUF	0.698	0.567
- Ashok Mahendru HUF	0.756	0.487
- Om Prakash Mahendru	0.000	0.095
- Sangeeta Mahendru	0.816	0.782
- Suvrat Trikha	0.217	0.199
- Anshul Mahendru	0.235	0.050
Total (B)	3.185	2.614
Total (A) + (B)	4.031	3.499

Banking Relations :	--
Auditors :
Name :	Ramakant Maheshwari and Company Chartered Accountant
Address :	125, A, Chanderpuri, Vyapar Bhavan,Ghaziabad-201001, Uttar Pradesh-201001
Tel. No.:	91-120-2859229 /28033780
Fax No.:	91-120-2856229
PAN.:	ACHPM0584C
Associates/Subsidiaries :	Shahor Machinery Stores

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
83020	Equity Shares	Rs.10/- each	Rs.0.830 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		0.830	0.830	0.830
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.272	0.194	0.148
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.102	1.024	0.978
LOAN FUNDS
1] Secured Loans		1.820	2.317	2.647
2] Unsecured Loans		4.031	3.499	2.869
TOTAL BORROWING		5.851	5.816	5.515
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		6.953	6.840	6.493
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.407	2.683	3.006
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.089	0.080	0.062
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.965	4.147	3.512
	Sundry Debtors	1.201	1.148	1.310
	Cash & Bank Balances	0.080	0.072	0.050
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.274	0.488	0.301
Total Current Assets		5.520	5.855	5.173
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.975	1.621	1.541
	Other Liabilities	0.044	0.074	0.062
	Provisions	0.044	0.083	0.145
Total Current Liabilities		1.063	1.778	1.748
Net Current Assets		4.457	4.077	3.425
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6.953	6.840	6.493

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income
		Other Income
		TOTAL	10.848	12.809	9.879
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		Interest
		Depreciation
		TOTAL	10.733	12.695	9.850
	PROFIT / LOSS BEFORE TAX		0.115	0.114	0.029
Less	TAX		0.037	0.068	0.045
	PROFIT / LOSS AFTER TAX		0.078	0.046	(0.016)
	Earnings Per Share (Rs.)		0.94	0.55	(0.18)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sales Turnover (Approximately)	12.000	10.800	12.800

The above information has been parted by Mr. Ashok Mahendru.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.72	0.36	(0.16)
Return on Total Assets (PBT/Total Assets}	(%)	1.45	1.34	0.35
Return on Investment (ROI) (PBT/Networth)		0.10	0.11	0.03
Debt Equity Ratio (Total Liability/Networth)		6.27	7.42	7.43
Current Ratio (Current Asset/Current Liability)		5.19	3.29	2.96

LOCAL AGENCY FURTHER INFORMATION

BUSINESS OPRATIONS

During the year sale and other receipt of the Company decreased from Rs.12.810 Millions to Rs.10.848 Millions. However, profit before tax was at same level from Rs.0.115 Million to 0.115 Milllion. The Company hopes to de better in the forth coming year.

FORM 8

Corporate identity number of the company	U23209DL2000PTC107583
Name of the company	ANKUR TRADERS AND ENGINERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	R-29 Back Sidemodel Town 3rd Stop New Delhi – 110009, Delhi, India E-Mail Id : rkm_co@yahoo.com
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	State Bank of India, RASMECCC Industrial Estate, B.S.Road, Ghaziabad- 201009, Uttar Pradesh, India E-Mail Id : jkscond@gmail.com
Nature of instrument creating charge	i). Loan cum hypothecation agreement ii).Arrangement letter
Date of instrument Creating the charge	27.04.2010
Amount secured by the charge	Rs.0.450 Million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest to be charged at the rate of 10% p.a. on daily balance with monthly rests for first 3 years , thereafter Bank's regular interest will be applied Terms of repayment The loan is to be repaid in 5 years in equated monthly instalments of Rs.14520/- each till entire loan with the interest is fully repaid.The first instalment commences from May'2010 Margin 22 % Extent and operation of the charge Hypothecation of car-Swift to be purchased out of the bank's loan .Noting of Bank's hypothecation charge in the books of RTO and the registration book will be essential in respect of finance .
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Car-Swift to be purchased out of the bank's loan

FIXED ASSETS

v Land

v Building

v Plant and Machinery

v Furniture and Fixtures

v Office Equipments

v Tools and Testing Equipments

v Scooter and Motor Cycle

v Computer

v Delivery van

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 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.47.79
UK Pound	1	Rs.75.06
Euro	1	Rs.65.35

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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		26

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.