MIRA INFORM REPORT

Report Date :

03.04.2012

IDENTIFICATION DETAILS

Name :	TAJPURIYA WOOD WORKS PRIVATE LIMITED
Registered Office :	N-1 8 Cross Rdrani Laxmi Nagar, Nagpur – 440002, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.01.2001
Com. Reg. No.:	11-130363
Capital Investment / Paid-up Capital :	Rs.8.608 Millions
CIN No.: [Company Identification No.]	U20103MH2001PTC130363
TIN No.:	27060278984
PAN No.: [Permanent Account No.]	AABCT3815C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Modular Furniture, Modular Kitchen, Conference Tables, Cafe Table, Offices Storage Rack.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1200000
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 usually correct and as per commitments. The company can be considered normal for business dealing 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

LOCATIONS

Registered Office :	N-1 8 Cross Rdrani Laxmi Nagar, Nagpur – 440002, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9225226001 (Mr. Manoj Tajpuriya)
Fax No.:	Not Available
E-Mail :	companylaw@rediffmail.com
Factory/ Godown :	L-6/2/2, MIDC, Hingna Road, Nagpur – 440016, Maharashtra, India
Tel. No.:	91-712-2225069/ 2223325

DIRECTORS

(AS ON 30.09.2011)

Name :

Mrs. Komal Ajay Tajpuriya

Designation :

Director

Address :

N-1, Eight Cross Lane, Laxmi Nagar, Nagpur – 440022, Maharashtra, India

Date of Birth/Age :

14.06.1973

Date of Appointment :

09.01.2001

DIN No.:

00428788

Name :

Mrs. Pushpa Radheshyam Tajpuriya

Designation :

Director

Address :

N -1, Laxmi Nagar, Nagpur – 440022, Maharashtra, Idnia

Date of Birth/Age :

26.01.1940

Date of Appointment :

09.01.2001

DIN No.:

00980820

Name :

Mrs. Manoj Radheshyam Tajpuriya

Designation :

Director

Address :

N -1, Laxmi Nagar, Nagpur – 440022, Maharashtra, India

Date of Birth/Age :

14.06.1970

Date of Appointment :

09.01.2001

DIN No.:

01373965

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	U20103MH2001PTC130363	TAJPURIYA WOOD WORKS PRIVATE LIMITED	Director	9/1/2001	9/1/2001	Active	NO
2	U70100MH2005PTC154411	GOEL GANGA INFRASTRUCTURE AND REAL ESTATE PRIVATE LIMITED	Director	1/7/2005	1/7/2005	Active	NO
3	U25209MH2009PTC195007	TAJPURIYA TECHNO PLAST PRIVATE LIMITED	Director	18/08/2009	18/08/2009	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Pushpa Radheshyam Tajpuriya	7705
Komal Ajay Tajpuriya	7357
Sadhana Radheshyam Tajpuriya	8074
Ram Shriram Agrawal Karta of Ram Shriram Agrawal (HUF)	5490
Radheshyam Shriram Tajpuriya	6850
Tulsidas Shriram Tajpuriya – Karta Tulsidas Shriram Tajpuriya (HUF)	3481
Ajay Tajpuriya (HUF)	8000
Manoj Tajpuriya (HUF)	3000
Shri Ramesh Agrawal	7000
Devansh Ajay Tajpuriya Minor Gurdian – Shri Ajay Tajpuriya	7380
Anshika Ajay Tajpuriya Minor Guardian – Shri Ahat Tajpuriya	7381
Shreyana Ajat Tajpuriya Minor Gurdian – Shri Ajay Tajpuriya	6999

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	85.47
Other top fifty shareholders	14.53
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Modular Furniture, Modular Kitchen, Conference Tables, Cafe Table, Offices Storage Rack.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Small Industries Development Bank of India

National Insurance Building, Ground Floor, S V Patel Marg, Kingsway, Nagpur – 440001, Maharashtra, India

· State Bank of India

· Union Bank of India

· HDFC bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
UBI Cash Credit A/c	30.585	54.296
SIDBI Term Loan A/c	5.000	0.000
SIDBI Term Loan A/c	7.500	0.000
SIDBI Term Loan A/c No 20010073	3.877	5.472
SIDBI Term Loan A/c No20010096	1.200	1.200
(Secured by charge on land, Building plant and Machinery, Cars, vehicles, Personal Guarantee of Directors)
Total	48.162	60.968
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Directors and Shareholders	16.858	15.562
Total	16.858	15.562

Banking Relations :	--
Auditors :
Name :	SVK and Company Chartered Accountant
Address :	3^rd Floor, Nipane Chambers, Opposite Chouhan Traders, Dharampeth, Nagpur – 440010, Maharashtra, India

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Share	Rs.100/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
86080	Equity Share	Rs.100/- each	Rs.8.608 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		8.608	8.608	8.608
2] Share Application Money		1.571	1.571	1.571
3] Reserves & Surplus		19.255	18.208	17.918
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		29.434	28.387	28.097
LOAN FUNDS
1] Secured Loans		48.162	60.968	62.624
2] Unsecured Loans		16.858	15.562	10.641
TOTAL BORROWING		65.020	76.530	73.265
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		94.454	104.917	101.362
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		27.284	28.917	32.815
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	19.131	18.760	15.784
	Sundry Debtors	50.749	65.228	57.412
	Cash & Bank Balances	7.918	3.686	3.823
	Other Current Assets	0.951	0.709	1.345
	Loans & Advances	10.546	9.084	5.993
Total Current Assets		89.295	97.467	84.357
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	22.125	18.423	13.880
	Other Current Liabilities	0.000	3.044	1.930
	Provisions	0.000	0.000	0.000
Total Current Liabilities		22.125	21.467	15.810
Net Current Assets		67.170	76.000	68.547
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		94.454	104.917	101.362

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales and Other Income	204.073	171.754	NA
		TOTAL (A)	204.073	171.754	NA
Less	EXPENSES
		TOTAL (B)	193.257	160.429	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		10.816	11.325	17.155
Less	FINANCIAL EXPENSES (D)		5.253	4.667	8.598
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.563	6.658	8.557
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.727	4.267	4.935
	PROFIT BEFORE TAX (E-F) (G)		1.836	2.391	3.622
Less	TAX (H)		0.750	1.000	Na
	PROFIT AFTER TAX (G-H) (I)		1.086	1.391	NA
	Earnings Per Share (Rs.)		12.62	--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.53	0.81	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.57	1.89	3.09
Return on Investment (ROI) (PBT/Networth)		0.06	0.08	0.13
Debt Equity Ratio (Total Liability/Networth)		2.96	3.45	3.17
Current Ratio (Current Asset/Current Liability)		4.04	4.54	5.34

LOCAL AGENCY FURTHER INFORMATION

FORM 8:

Corporate identity number of the company	U20103MH2001PTC130363
Name of the company	Tajpuriya Wood Works Private Limited
Address of the registered office or of the principal place of business in India of the company	N-1 8 Cross Rdrani Laxmi Nagar, Nagpur – 440002, Maharashtra, India companylaw@rediffmail.com
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	Small Industries Development Bank of India National Insurance Building, Ground Floor, S. V. Patel Marg, Kingsway, Nagpur – 440001, Maharashtra, India bhanup@sidbi.in
Nature of description of the instrument creating or modifying the charge	Loan Agreement - Cum - Deed of Hypothecation.
Date of instrument Creating the charge	02.09.2010
Amount secured by the charge	Rs.7.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Term Loan: 12% P.A. with monthly rest, on the principal amount of the loan outstanding from time to time. Terms of Repayment Repayable in 48 equal monthly installments of Rs.0.156 Million each commencing after an initial moratorium of 12 months from the date of first disbursement. Margin NIL Extent and Operation of the charge First charge by way of hypothecation over existing movable assets acquired out of earlier term loans of Rs.8.000 Millions, Rs.1.2 Millions and Rs.5.000 Millions charged to SIDBI and movable assets proposed to be acquired out of the assistance.
Short particulars of the property charged	1) First charge by way of hypothecation on the movable assets acquired or to be acquired by the borrower out of the loan limit including the movables (save except book debts), plant, machinery, machinery spares, tools and accessories, office equipments, computers, furniture’s and fixtures both present and future and whether installed or not and whether hereafter from time to time during the continuance of the security of these present be bought into or upon be stored or be in or about all the borrower's factories, premises and Godowns at L-6\2\2, MIDC, Hingna Road, Nagpur- 440016. 2) First charge by way of hypothecation on the movables (save except book debts), plant and machinery, machinery spare, tools and accessories, office equipment, computer, furniture and fixtures to be bought out of the proposed term loan for SIDBI in terms of loan agreement dated march 12, 2008 both present and future and weather installed or not and weather now lying loose or in cases or which are now lying or stored in or about or here after from time to time during continuance of the security of these present as presents be bought into or upon or be stored or be in or about all the borrowers factories, premises and Godowns l-6\2\2, MIDC, Hingna Road, Nagpur - 440016.

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.51.16
UK Pound	1	Rs.81.80
Euro	1	Rs.68.34

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	4
--RESERVES	1~10	6
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		43

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.