MIRA INFORM REPORT

Report Date :

12.04.2012

IDENTIFICATION DETAILS

Name :	TIMBMET DOOR SOLUTION PRIVATE LIMITED
Registered Office :	213-214, Square One Complex, Saket New Delhi – 110017
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.02.2007
Com. Reg. No.:	55-159291
Capital Investment / Paid-up Capital :	Rs. 44.000 Millions
CIN No.: [Company Identification No.]	U36912DL2007PTC159291
TAN No.: [Tax Deduction & Collection Account No.]	DELT07215F
PAN No.: [Permanent Account No.]	AACCT6071D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Fire Retardant Doors, Frames, Windows.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 750000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. trade relations are reported as fair. The company is doing good. 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 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 :	213-214, Square One Complex, Saket New Delhi – 110017, India
Tel. No.:	91-11-4660-5015/16/17
Fax No.:	91-11-4660-5020
E-Mail :	info@tdsl–india.com
Factory :	Plot no. 232 – 235, Kasez Disst. Kutch, Gandhidham, Gujarat, India
Tel. No.:	91-2836-253513

DIRECTORS

As on 30.09.2011

Name :

Mr. Inderjit Kochhar

Designation :

Whole Time Director

Address :

52-A, Sainik Farms, New Delhi – 110 062, India

Date of Birth/Age :

30.10.1954

Date of Appointment :

14.02.2007

DIN No.:

00233264

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	U80302DL1998PTC093409	BASIC INSURANCE MANAGEMENT AND ALLIED SERVICES PRIVATE LIMITED	Director	30/11/2005	30/11/2005	15/07/2010	Strike off	NO
2	U36912DL2007PTC159291	TIMBMET DOOR SOLUTIONS PRIVATE LIMITED	Director	14/02/2007	14/02/2007	-	Active	NO
3	U15500MH2007PTC205192	UNIVERSAL CONFECTIONERY AND FOOD PRODUCTS PRIVATE LIMITED	Director	24/07/2007	24/07/2007	15/03/2011	Active	NO
4	U70109DL2009PTC197259	SOLID BUILDERS PRIVATE LIMITED	Director	1/1/2010	1/1/2010	8/4/2011	Active	NO

Name :

Mr. Devankit Kocchar

Designation :

Whole Time Director

Address :

52-A, Sainik Farms, New Delhi – 110 062, India

Date of Birth/Age :

31.07.1982

Date of Appointment :

14.02.2007

DIN No.:

00233392

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	U36912DL2007PTC159291	TIMBMET DOOR SOLUTIONS PRIVATE LIMITED	Director	14/02/2007	14/02/2007	-	Active	NO
2	U15500MH2007PTC205192	UNIVERSAL CONFECTIONERY AND FOOD PRODUCTS PRIVATE LIMITED	Director	24/07/2007	24/07/2007	15/10/2010	Active	NO

Name :

Mr. Ashwani Malhan

Designation :

Director

Address :

1, Mian Street, Hoby LE1430T

Date of Birth/Age :

08.04.1968

Date of Appointment :

15.06.2007

DIN No.:

01209850

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	U36912DL2007PTC159291	TIMBMET DOOR SOLUTIONS PRIVATE LIMITED	Director	15/06/2007	15/06/2007	-	Active	NO

Name :

Mr. Andrew D. Beckett

Designation :

Director

Address :

Oakwood House, 96, High Street, Sandhurst, GU478EE

Date of Birth/Age :

25.06.1970

Date of Appointment :

15.06.2007

DIN No.:

01584252

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	U36912DL2007PTC159291	TIMBMET DOOR SOLUTIONS PRIVATE LIMITED	Director	15/06/2007	15/06/2007	-	Active	NO

Name :

Mr. Simons Lewis Fineman

Designation :

Director

Address :

1, Frandon Road, Oxford OX26RS

Date of Birth/Age :

05.12.1959

Date of Appointment :

15.06.2007

DIN No.:

01590360

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	U36912DL2007PTC159291	TIMBMET DOOR SOLUTIONS PRIVATE LIMITED	Director	15/06/2007	15/06/2007	-	Active	NO

Name :

Mr. Nicholas Huge Cox

Designation :

Director

Address :

21, Scott House, Town Range, Gibraltar TR21GIB

Date of Birth/Age :

30.03.1960

Date of Appointment :

15.06.2007

DIN No.:

01679220

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	U36912DL2007PTC159291	TIMBMET DOOR SOLUTIONS PRIVATE LIMITED	Director	15/06/2007	15/06/2007	-	Active	NO

Name :

Mr. Ian John Holcroft

Designation :

Director

Address :

Stonelands Field Broughton, Grange Over Sands, Cumbria LA116HW

Date of Birth/Age :

13.10.1965

Date of Appointment :

15.06.2007

DIN No.:

02006267

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	U36912DL2007PTC159291	TIMBMET DOOR SOLUTIONS PRIVATE LIMITED	Director	15/06/2007	15/06/2007	-	Active	NO

Name :

Mr. Hugh Waters

Designation :

Director

Address :

Apartment No. LCG 01GFA, The Laburnum, Sushant Lok-1, Gurgaon – 122 001, Haryana, India

Date of Birth/Age :

31.10.1952

Date of Appointment :

16.12.2009

DIN No.:

02695061

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	U45201HR2006PLC036025	DLF PROJECTS LIMITED.	Director	13/08/2009	25/05/2009	11/11/2009	Active	NO
2	U45200DL2008PTC176251	LAING O ROURKE CONSTRUCTION PRIVATE LIMITED	Director	29/09/2009	6/8/2009	-	Active	NO
3	U36912DL2007PTC159291	TIMBMET DOOR SOLUTIONS PRIVATE LIMITED	Director	30/09/2010	16/12/2009	-	Active	NO

Name :	Mr. PALKI KOCHHAR
Designation :	Director
Address :
Date of Birth/Age :
Date of Appointment :	01.11.2009
DIN No.:	02840016

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	U36912DL2007PTC159291	TIMBMET DOOR SOLUTIONS PRIVATE LIMITED	Director	30/09/2010	1/11/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Inderjit Kochhar	940000
Devankit Kocchar	150000
Timbmet Door Solutions Limited, Leicester	1100000
East Asia Holdings Limited, Gibraltar	1100000
Laing O’ Rourke India Holdings Limited, Limassol	1100000
Hemant Bakshi	10000
Total	4400000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

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	75.23
Directors or relatives of Directors	24.77
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Fire Retardant Doors, Frames, Windows.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Federal Bank Limited, Nehru Place Branch, Nehru Place, New Delhi – 110 019, India
• HDFC Bank Limited
• State Bank of India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Car Loans from HDFC Bank Limited	0.000	0.845
Car Loans from Federal Bank Limited	0.000	1.120
Total	0.000	1.965
unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loans from Members	0.000	79.995
Total	0.000	79.995

Banking Relations :	--
Auditors :
Name :	Apurv Relan and Company Chartered Accountants
Address :	E-102, DDA (MIG) Flats, Ekta Apartments, Saket, New Delhi – 110 019, India
Tel. No.:	91-11-26512307
Fax No.:	91-11-26561035
E-Mail :	apurv@apurvrelan.com
PAN.:	AAAFA8777G

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4400000	Equity Shares	Rs.10/- each	Rs.44.000 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		44.000	44.000	44.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		143.516	67.045	6.548
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		187.516	111.045	50.548
LOAN FUNDS
1] Secured Loans		0.000	1.965	2.649
2] Unsecured Loans		31.000	79.995	79.995
TOTAL BORROWING		31.000	81.960	82.644
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		218.516	193.005	133.192
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		76.557	69.311	66.398
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	87.526	49.318	31.589
	Sundry Debtors	93.220	81.747	27.092
	Cash & Bank Balances	22.088	9.439	1.233
	Other Current Assets	6.610	2.360	2.659
	Loans & Advances	0.000	0.091	0.086
Total Current Assets		209.444	142.955	62.659
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	17.239	3.318
	Other Current Liabilities	0.000	8.068	1.616
	Provisions	0.000	0.000	0.000
Total Current Liabilities		70.508	25.307	4.934
Net Current Assets		138.936	117.648	57.725
MISCELLANEOUS EXPENSES		3.023	6.046	9.069
TOTAL		218.516	193.005	133.192

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	401.315	296.676	16.335
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		84.650	81.016	30.123
Less	FINANCIAL EXPENSES		0.110	0.261	0.389
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		84.54	80.755	29.734
Less/ Add	DEPRECIATION/ AMORTISATION		10.697	10.195	12.167
Less	Pre – operative W /off		3.019	3.019	3.019
Less:	Preliminary Expenses W / off		0.04	0.04	0.04
	PROFIT BEFORE TAX (E-F)		70.820	67.582	14.611
Less	TAX		0.018	0.018	3.023
	PROFIT AFTER TAX (G-I)		70.802	67.564	11.588
	Earnings Per Share (Rs.)		16.09

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	17.64	22.77	89.44
Return on Total Assets (PBT/Total Assets}	(%)	24.76	31.83	11.32
Return on Investment (ROI) (PBT/Networth)		0.37	0.60	0.28
Debt Equity Ratio (Total Liability/Networth)		0.54	218.31	87.58
Current Ratio (Current Asset/Current Liability)		2.97	5.65	12.70

LOCAL AGENCY FURTHER INFORMATION

Corporate identity number of the company	U36912DL2007PTC159291
Name of the company	TIMBMET DOOR SOLUTIONS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1501, Devika Towers, Nehru Place, New Delhi – 110 019, India E-Mail: inder.kochhar@tdsl-india.com
This form is for	Creation of charge
Type of charge	Others (Brand new Skoda Superb Elegance 1.8 Tsi car)
Particular of charge holder	Federal Bank Limited, Nehru Place Branch, Nehru Place, New Delhi – 110 019, India E-Mail: gselvam.ganesan@gmail.com
Nature of description of the instrument creating or modifying the charge	Agreement for Federal Personal car loan
Date of instrument Creating the charge	12/10/2009
Amount secured by the charge	Rs.1.600 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Interest at 10% pa with monthly rests Terms of Repayment: EMI of Rs.0.107 million payable on the 12^th of every month commencing from 12-11-2009 Margin: Margin as per bank norms Extent and Operation of the charge: First charge by way of hypothecation of Brand new Skoda Superb Elegance 1.8 Tsi car Model 2009 Engine No. CDA 053849 Chassis No. TMBBBJ3T09A301437 to be acquired out of the loan of Rs.1.600 millions sanctioned to the company.
Short particulars of the property charged	First charge by way of hypothecation of Brand new Skoda Superb Elegance 1.8 Tsi car Model 2009 Engine No. CDA 053849 Chassis No. TMBBBJ3T09A301437 to be acquired out of the loan of Rs.1.600 millions.

Fixed Assets

· Factory Building

· Furniture and Fixture

· Electrical Fitting

· Computer and Lan System

· Printer

· Plant and Machinery

· Tools

· Vehicles

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.51.55
UK Pound	1	Rs.81.95
Euro	1	Rs.67.57

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		50

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.