MIRA INFORM REPORT

Report Date :

09.04.2012

IDENTIFICATION DETAILS

Name :	EKBOTE’S LOGS AND LUMBERS PRIVATE LIMITED
Registered Office :	Gate No. 229 Village Ranje Tal. Bhor, Pune - 412205, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.10.1997
Com. Reg. No.:	11-111278
Capital Investment / Paid-up Capital :	Rs. 5.804 Million
CIN No.: [Company Identification No.]	U02006PN1997PTC111278
TAN No.: [Tax Deduction & Collection Account No.]	PNEE01313E
PAN No.: [Permanent Account No.]	AAACE7389R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and supplier of intricately designed furniture.
No. of Employees :	Not Available

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 130904
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 commitment. The company can be considered normal for business dealings at usual trade terms and condition.

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 :	Gate No. 229 Village Ranje Tal. Bhor, Pune - 412205, Maharashtra, India
Tel. No.:	+91-2113-305800 / 305801
Mobile No.:	+91-9902065746 / 8805025253
Fax No.:	+91-2113-305801 / 305801-52
E-Mail :	info@ekbotefurniture.com ganeshekbote@ekbotefurniture.com ekbote.project@gmail.com
Website:	www.ekbotefurniture.com

DIRECTORS

As on: 30.09.2011

Name :

Mr. Eknath Govind Ekbote

Designation :

Chairman cum Managing Director

Address :

Laxmi 58, Mukund Nagar Pune – 411037, Maharashtra, India

Date of Birth/Age :

01.08.1944

Date of Appointment :

01.04.2006

DIN No.:

00409388

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	U45201MH1996PTC097250	EKBOTLE S CONSTRUCTION DIVISION PRIVATE LIMITED	Director	24/02/1996	24/02/1996	-	Under Process of Striking off	NO
2	U02006PN1997PTC111278	EKBOTE'S LOGS AND LUMBERS PRIVATE LIMITED	Managing director	1/4/2006	1/4/2006	-	Active	NO

Name :

Mr. Govind Dattoba Ekbote

Designation :

Whole time Director

Address :

Laxmi 58, Mukund Nagar Pune – 411037, Maharashtra, India

Date of Birth/Age :

12.02.1969

Date of Appointment :

01.04.2006

DIN No.:

00409327

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	U74999PN1988PTC050036	EKBOTE INTERIORS PRIVATE LIMITED	Director	1/4/2006	1/4/2006	-	Active	NO
2	U02006PN1997PTC111278	EKBOTE'S LOGS AND LUMBERS PRIVATE LIMITED	Whole-time director	1/4/2006	1/4/2006	-	Active	NO
3	U45201MH1996PTC097250	EKBOTLE S CONSTRUCTION DIVISION PRIVATE LIMITED	Additional director	3/9/2010	3/9/2010	-	Under Process of Striking off	NO

Name :

Mr. Ganesh Eknath Ekbote

Designation :

Director

Address :

Laxmi 58, Mukund Nagar Pune – 411037, Maharashtra, India

Date of Birth/Age :

09.12.1976

Date of Appointment :

01.04.2006

DIN No.:

01273331

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	U74999PN1988PTC050036	EKBOTE INTERIORS PRIVATE LIMITED	Whole-time director	1/4/2006	1/4/2006	-	Active	NO
2	U02006PN1997PTC111278	EKBOTE'S LOGS AND LUMBERS PRIVATE LIMITED	Whole-time director	1/4/2009	1/3/2009	-	Active	NO

Name :

Mr. Mohan Eknath Ekbote

Designation :

Director

Address :

Laxmi 58, Mukund Nagar Pune – 411037, Maharashtra, India

Date of Birth/Age :

17.06.1972

Date of Appointment :

29.09.2008

DIN No.:

01273323

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	U74999PN1988PTC050036	EKBOTE INTERIORS PRIVATE LIMITED	Whole-time director	1/4/2006	1/4/2006	-	Active	NO
2	U02006PN1997PTC111278	EKBOTE'S LOGS AND LUMBERS PRIVATE LIMITED	Director	29/09/2008	1/7/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on; 30.09.2011

Names of Shareholders	No. of Shares
Ekbote Eknath	3335
Ekbote Suhas	5560
Ekbote Rukmini	3500
Ekbote Kalavati	2340
Ekbote Ratnaprabha	2400
Ekbote Sandeep	4000
Ekbote Narendra	4000
Ekbote Govind	6975
Ekbote Mohan	6975
Ekbote Ganesh	7115
Ekbote Uma	1600
Ekbote Dattoba	2340
Ekbote Tajashree	1180
Ekbote Rekha	1600
Ekbote Rajshree	1600
Ekbote Neeta	1180
Ekbote Rukhmini and Ekbote Kalavati	190
Ekbote Anuradha	1460
Bhatwadekar Balwant	500
Bhatwadekar Mangal	190
Total	58040

As on; 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and supplier of intricately designed furniture.
Product :	· Item code no. : 940360, 94035010 and 44122210, 44081090 · Product Desc. :Wooden Furniture and Decorative Plywood

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Bank of Maharashtra, TMV Colony Branch, 425/1 Mangal Deep TMV Colony Branch, Pune – 411037 Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Cash credit a/c with BOM 10572 (Secured by hypo. of stock )	19.594	9.811
BOM Tempo Bus Loan A/C (Secured by hypo. of Car )	0.514	0.000
BOM Tempo Bus Loan A/C (Secured by hypo. of Car )	0.804	0.000
BOM Tempo Loan A/C (Secured by hypo. of Tempo )	0.139	0.219
BOM Term Loan A/C (Secured by hypo. of CNC Machine )	9.579	0.000
Total	30.630	10.030
unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
B U Bhatwadekar	0.769	0.769
Damodar G Ekbote (HUF)	0.180	0.176
Dattoba G Ekbote (HUF)	0.102	0.099
Dattoba Govind Ekbote	0.888	0.865
Eknath Govind Ekbote	0.194	0.189
Eknath G Ekbote	2.730	2.059
Ganesh Ekbote	1.395	0.758
Govind D Ekbote	4.558	3.885
Mrs. Kalavati Ekbote	1.278	1.245
Mohan E Ekbote	3.167	2.439
Nrendra D Ekbote	0.526	0.512
Neeta Narendra Ekbote	0.206	0.200
Ekbote Rajshree Govind	0.612	0.595
Mrs. Ratnaprabha E Ekbote	1.768	1.722
Ekbote R.D Investment	0.328	0.328
Rekha Mohan Ekbote	0.099	0.096
Smt. Rukmini D Ekbote	2.258	2.199
Sandeep D Ekbote	1.425	1.388
Santosh D Ekbote	2.954	2.278
Tejashree Sandeep Ekbote	0.293	0.284
Total	25.731	22.086

Banking Relations :	--
Auditors :
Name :	Shah Parekh and Sabani Chartered Accountant
Address :	M 2, 2^nd Floor, Thakkar House, 2418 East Street, Pune – 411001, Maharashtra India

CAPITAL STRUCTURE

As on; 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
750,00	Equity Shares	Rs.100/- each	Rs. 7.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
580,40	Equity Shares	Rs.100/- each	Rs. 5.804 Million

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		5.804	5.804	5.804
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		26.922	18.905	9.594
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		32.726	24.709	15.398
LOAN FUNDS
1] Secured Loans		30.630	10.030	8.099
2] Unsecured Loans		25.731	22.086	25.907
TOTAL BORROWING		56.361	32.116	34.006
DEFERRED TAX LIABILITIES		2.236	1.115	0.965
TOTAL		91.323	57.940	50.369
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		63.119	38.862	21.305
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	64.149	23.772	39.188
	Sundry Debtors	7.221	12.587	8.139
	Cash & Bank Balances	0.773	0.930	0.433
	Other Current Assets	1.235	2.207	0.939
	Loans & Advances	27.827	37.910	5.962
Total Current Assets		101.205	77.406	54.661
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	30.258	16.467	12.234
	Other Current Liabilities	18.964	24.567	4.917
	Provisions	23.779	17.294	8.524
Total Current Liabilities		73.001	58.328	25.675
Net Current Assets		28.204	19.078	28.986
MISCELLANEOUS EXPENSES		0.000	0.000	0.078
TOTAL		91.323	57.940	50.369

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income	158.662	110.658
		Other Income
		TOTAL	158.662	110.658
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	144.014	99.310
	PROFIT BEFORE TAX		14.648	11.348
Less	TAX		78.46	4.288
	PROFIT AFTER TAX		93.108	7.060
	Earnings Per Share (Rs.)		1605.310	121.724

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	58.68	6.38
Net Profit Margin (PBT/Sales)	(%)	NA	9.23	10.25
Return on Total Assets (PBT/Total Assets}	(%)	NA	12.59	14.93
Return on Investment (ROI) (PBT/Networth)		NA	0.59	0.45
Debt Equity Ratio (Total Liability/Networth)		3.95	2.29	2.66
Current Ratio (Current Asset/Current Liability)		1.38	1.32	2.12

LOCAL AGENCY FURTHER INFORMATION

Corporate identity number of the company	U02006PN1997PTC111278
Name of the company	EKBOTE’S LOGS AND LUMBERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	GATE NO. 229 Village Ranje Tal. Bhor, Pune - 412205, Maharashtra, India rgdoshi@gmail.com
This form is for	Creation of charges
Type of charge	Movable property
Particular of charge holder	Bank of Maharashtra, TMV Colony Branch, 425/1 Mangal Deep TMV Colony Branch, Pune – 411037 Maharashtra, India
Nature of instrument creating charge	Composite Deed of Hypothecation Dated 13.03.2011
Date of instrument Creating the charge	13.03.2011
Amount secured by the charge	Rs. 25.000 Million
Brief of the principal terms an conditions and extent and operation of the charge	(a) Rate of Interest As per policy of the Bank (b)Terms of Repayment As per terms and condition of composite Deed of Hypothecation 13.03.2011 (c)Margin Further charges on Current Assets and Plant and Machinery (d)Extent and Operation of the charge As per terms and condition of composite Deed of Hypothecation 13.03.2011
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Additional charges of hypothecation in favor of the bank on all its tangible and intangible assets such as plant and machinery, equipment, installation, furniture and fixture, vehicles, stock, etc

FIXED ASSETS

· Building

· Office furniture and Fixture

· Plant Machinery

· Office Equipment

· Computer

· Cars and Tempo

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.51.05
UK Pound	1	Rs.81.09
Euro	1	Rs.67.39

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	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.