MIRA INFORM REPORT

Report Date :

23.09.2011

IDENTIFICATION DETAILS

Name :	MEGATECH INTERNATIONAL PRIVATE LIMITED
Registered Office :	G-1-1428, Industrial Area, Bhiwadi, Alwar-301019, Rajasthan
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	04.04.2006
Com. Reg. No.:	17-22341
Capital Investment / Paid-up Capital :	Rs.0.105 Million
CIN No.: [Company Identification No.]	U29199RJ2006PTC022341
TAN No.: [Tax Deduction & Collection Account No.]	JPRM04267E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Plant and Machinery.
No. of Employees :	35 [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 10000
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. Profit and Loss account of the company is not available.

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 [General Details]

Name :	Mr. Praveen Kumar Sharma
Designation :	Director
Contact No. :	91-9772214144
Date :	09.09.2010

LOCATIONS

Registered Office / Factory:	G-1-1428, Industrial Area, Bhiwadi, Alwar – 301019, Rajasthan, India
Tel. No.:	91-1493-512430 91-120-2825374
Mobile No. :	91-9772214144 [Mr. Praveen Sharma]
Fax No.:	91-1493-226000
E-Mail :	Mipl2003@gmail.com megatech2003@yahoo.com megatech@yahoo.com

DIRECTORS

AS ON 30.09.2010

Name :

Mr. Rajnish Raghuyal

Designation :

Director

Address :

D-79, Sec-56, Noida, G. B Nagar

Date of Birth/Age :

55 Years

Qualification :

M. Tech

Date of Appointment :

04.04.2006

DIN :

01092683

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	U74899DL2002PTC117069	POSITIVE PLASTICS PRIVATE LIMITED	Director	20/09/2002	20/09/2002	-	Active	NO
2	U29199RJ2006PTC022341	MEGATECH INTERNATIONAL PRIVATE LIMITED	Director	4/4/2006	4/4/2006	-	Active	NO
3	U00349DL2005PTC139909	MEMAA MOULDTECH PRIVATE LIMITED	Additional director	11/10/2008	11/10/2008	23/12/2009	Active	NO

Name :

Mr. Praveen Kumar Sharma

Designation :

Director

Address :

R-17, Ashiana Village, Bhiwadi Alwar, Rajasthan, India

Date of Birth/Age :

46 Years

Qualification :

M. Tech

Date of Appointment :

04.04.2006

DIN :

01239323

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	U29199RJ2006PTC022341	MEGATECH INTERNATIONAL PRIVATE LIMITED	Director	4/4/2006	4/4/2006	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Rajnish Raghuyal	3500
Praveen Kumar Sharma	3500
Syrish Raghuyal	500
Neena Raghuyal	1250
Manju Sharma	1750
Total	10500

(AS ON 30.09.2010)

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Plant and Machinery.
Products :	Cement Plants Vertical Shaft Klin (VSK) [Mini Ordinary Portland Cement Plants with Small Capacities] Clinker Grinding Units [Mini Ordinary Portland Cement Plants with Small Capacities] Fertilizer Plants NPK/NPKS Plants [Blended, mixed, granulated fertilizer formulations made crop specific] Single Super Phosphate Plants (SSP) [Single Super Phosphate Plant to produce Powder] Granulated Single Supersulphate Plants (GSSP) [Granulated Single Supersulphate Plant] Chemical Plants Sulphuric Acid Plants [Technical Grade Sulphuric Acid Plant] Ferric and Non-Ferric Plants [Ferric and Non – Ferric Alum For Paper And Other Industries] Zinc Sulphate Plants [Zinc Sulphate Hepta Hydrate For Fertilizer And Other Uses] Material Handling Equipment.
Exports :
Products :	Plant and Machinery
Countries :	USA Europe Iran Bahrain Rwanda Bangladesh Nepal Sudan Uganda Mozambique Jamaica
Terms :
Selling :	Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Customers :

• Wholesalers
• Retailers

No. of Employees :

35 [Approximately]

Bankers :

State Bank of Bikaner and Jaipur, Industrial Estate Branch, Bhiwadi, Rajasthan, India

Facilities :

Particulars	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
Unsecured Loans
Positive Plastics Private Limited	0.000	0.100
Kesho Ram Sharma	0.000	0.022
Rajneesh Raghuyal	0.000	0.206
Total	0.000	0.328

Banking Relations :	--
Auditors :
Name :	Manoj Tayal and Company Chartered Accountant
Address :	K.L. 109, Kavi Nagar, Ghaziabad-201002, Uttar Pradesh, India

CAPITAL STRUCTURE

AS ON 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs.10/- Each	Rs.5.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,500	Equity Shares	Rs.10/- Each	Rs.0.105 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		0.105	0.105	0.105
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.454	1.160	0.061
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.559	1.265	0.166
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.328	3.057
TOTAL BORROWING		0.000	0.328	3.057
DEFERRED TAX LIABILITIES		0.033	0.034	0.004
TOTAL		2.592	1.627	3.227
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.515	8.038	3.171
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.000	8.224	10.705
	Sundry Debtors	12.016	7.530	0.525
	Cash & Bank Balances	1.777	1.600	4.615
	Other Current Assets	2.389	1.079	0.832
	Loans & Advances	3.697	3.634	0.236
Total Current Assets		22.879	22.067	16.913
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		7.730	0.307
	Other Current Liabilities	27.306	20.320	16.654
	Provisions	0.567	0.546	0.061
Total Current Liabilities		27.873	28.596	17.022
Net Current Assets		[4.994]	(6.529)	(0.109)
MISCELLANEOUS EXPENSES		0.071	0.118	0.165
TOTAL		2.592	1.627	3.227

KEY RATIOS

PARTICULARS	31.03.2010	31.03.2009	31.03.2008
Debt Equity Ratio (Total Liability/Networth)	10.89	22.86	120.96
Current Ratio (Current Asset/Current Liability)	0.82	0.77	0.99

LOCAL AGENCY FURTHER INFORMATION

TRADE REFERENCES

• PMC Leader California, USA

FIXED ASSETS

• Building
• Computer
• Electric Equipment
• Furniture and Fixture
• Generator
• Motor Cycle
• Land
• Plant and Machinery
• Safety Equipment
• Mobile Phone
• Office Equipment
• Tools

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.48.82
UK Pound	1	Rs.75.48
Euro	1	Rs.66.10

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	NO
--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.