MIRA INFORM REPORT

Report Date :

22.09.2011

IDENTIFICATION DETAILS

Name :	SHREE PARVATI METALS PRIVATE LIMITED
Registered Office :	E-6, RIICO Industries Area, Bhiwadi, Phase-1, Alwar – 301019, Rajasthan
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	09.01.1984
Com. Reg. No.:	17-002868
Capital Investment / Paid-up Capital :	1.000 Million
CIN No.: [Company Identification No.]	U29299RJ1984PTC002868
TAN No.: [Tax Deduction & Collection Account No.]	JPRS07520C
PAN No.: [Permanent Account No.]	AAJCS2165A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Industrial Corrugation machines.
No. of Employees :	25(Approximately) [In Office- 10 and In Factory- 15]

RATING & COMMENTS

MIRA’s Rating :

B(28)

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

Maximum Credit Limit :	USD 1600
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 – 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
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Gaurav Chauhan
Designation :	Director
Contact No.:	91-9828280404
Date :	13.09.2011

LOCATIONS

Registered Office/Factory :	E-6, RIICO Industries Area, Bhiwadi, Phase-1, Alwar – 301019, Rajasthan
Tel. No.:	91-1493-220838
Mobile No.:	91-9828280404 (Mr. Gaurav Chauhan)
Fax No.:	91-11-25508286
E-Mail :	g_chauhan@shreeparvatimetals.com/ dk_goyal2008@rediffmail.com
Website :	http://shreeparvatimetals.com
Location :	Owned

DIRECTORS

AS ON 29.09.2010

Name :

Mr. Gaurav Chouhan

Designation :

Director

Address :

A-140, Shanker Garden, Vikashpuri, New Delhi , Delhi– 110018

Date of Appointment :

10.11.2004

DIN No.:

01972277

Other Directorship:

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
U29299RJ1984PTC002868	SHREE PARVATI METALS PRIVATE LIMITED	Director	10-11-04	10-11-04	-	Active	YES

Name :

Ms. Vimla Chauhan

Designation :

Director

Address :

A-140, Shankar Garden, Vikas Puri, New Delhi, Delhi - 110018

Date of Appointment :

01.04.1995

DIN No.:

02412405

Other Directorship:

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
U29299RJ1984PTC002868	SHREE PARVATI METALS PRIVATE LIMITED	Director	01-04-95	01-04-95	-	Active	YES
U29220DL2009PTC194845	DHRUV TECHENGINEERS PRIVATE LIMITED	Director	01-10-09	01-10-09	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Gaurav Chauhan	580
Vimla Chauhan	19

Equity Share Breakup

AS ON 30.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Industrial Corrugation machines
Products :	· Gypsum board machine · Auto slitting machine · Starch processing machinery · Pneumatic power press · Poly cutting machine · Hot air stenter · Refill making machine · Stripping equipment
Imports :
Products :	· Machines
Countries :	· China
Terms :
Selling :	Cheque
Purchasing :	Cheque

GENERAL INFORMATION

Customers :

· Retailers

· End Users

· OEM’s

· Manufacturer

No. of Employees :

Office -10

Factory – 15

25(Approximately)

Bankers :

· State Bank of Bikaner and Jaipur, RIICO Chowk, Industrial Area, Bhiwadi – 301019, Rajasthan, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
S.B.B.J Bhiwadi	3.470	3.442
Total	3.470	3.442
Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Total	0.070	0.070

Banking Relations :	---
Auditors :
Name :	D.K.Goyal Chartered Accountant
Address :	SPL-1(G), Industrial Area, Bhiwadim Rajasthan-RJ- 301019, India
PAN No.:	ACIPG2291H
Sister Concerns:	Shree Parvati Metals

CAPITAL STRUCTURE

AS ON 29.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs.0.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs.100/- each	Rs.0.100 Millions

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.304	0.153	0.128
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.404	0.253	0.228
LOAN FUNDS
1] Secured Loans		3.470	3.442	1.520
2] Unsecured Loans		0.070	0.070	0.070
TOTAL BORROWING		3.540	3.512	1.590
DEFERRED TAX LIABILITIES		0.099	0.095	0.028
TOTAL		4.043	3.860	1.846
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.034	1.082	0.472
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.024
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.475	1.235	0.880
	Sundry Debtors	0.000	0.308	2.531
	Cash & Bank Balances	0.188	0.116	0.089
	Other Current Assets	0.005	0.001	0.005
	Loans & Advances	3.480	3.532	0.579
Total Current Assets		5.148	5.192	4.084
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.013	1.783	2.108
	Other Liabilities	} 0.126	} 0.631	} 0.626
	Provisions
Total Current Liabilities		2.139	2.414	2.734
Net Current Assets		3.009	2.778	1.350
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.043	3.860	1.846

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2011
Sales Turnover (Approximately)	13.000

Expected Sales () :

The above information has been parted by Mr. Gaurav Chauhan

KEY RATIOS

PARTICULARS	31.03.2010	31.03.2009	31.03.2008
Debt Equity Ratio (Total Liability/Networth)	14.06	23.42	18.96
Current Ratio (Current Asset/Current Liability)	2.41	2.15	1.49

LOCAL AGENCY FURTHER INFORMATION

Trade References:

· Ranbaxy, Mumbai

FORM 8

	Modification of charge
Charge identification number of the modified	10007159
Corporate identity number of the company	U29299RJ1984PTC002868
Name of the company	SHREE PARVATI METALS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Area, Bhiwadi E-6, Industrial, Alwar, Rajasthan, India.
Type of charge	Immovable Property Book Debts Movable Property(not being pledge) Floating Charge
Particular of charge holder	State Bank of Bikaner and Jaipur, RIICO Chowk, Industrial Area, Bhiwadi, Rajasthan-RJ, India e-mail id : sbb10465@sbbj.co.in
Nature of description of the instrument creating or modifying the charge	Letter of Arrangement Agreement of Loan Cum Hypothecation Guranttee Agreement Annexure-SME-6
Date of instrument Creating the charge	19.03.2009
Amount secured by the charge	Rs.3.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest 0.75% Blow BPLR presently 12% pa with monthly rest. Subject to change from time to time. Terms of Repayment Repayable on demand Margin 25% on immovable property Extent and Operation of the charge The charge will operate as first charge Other Equitable mortagage of property in the name of Smt. Vimla Chauhan situated at A-140, Shankar Garden Najafgarh Roadm, New Delhi.
Short particulars of the property charged	Hypothecation of all stock of refrigerator, base trolly, cold forging, auto component, sheetmetal components, cnc machanised components, stainless steel and other related material, packing material, stock in transit, consumable stores and spares and all other current assets of the company.
Date of latest modification prior to the present modification	Not Available
Particulars of the present modification	The existing limit has been enhanced from Rs. 1.500 Millions to Rs. 3.500 Millions . Interest 12% P.A. with monthly rests 0.75% beslow BPLR Subject to change from time to time.

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.48.22
UK Pound	1	Rs.75.63
Euro	1	Rs.65.64

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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.