MIRA INFORM REPORT

Report Date :

12.04.2012

IDENTIFICATION DETAILS

Name :	TRUBLU TECHNOLOGIES PRIVATE LIMITED
Registered Office :	24/1, Anchepalya, Near Bus Stop, Tumkur Road, Nagasandra Post, Bangalore – 560073, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.05.2007
Com. Reg. No.:	08-042848
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U24299ka2007ptc042848
TAN No.: [Tax Deduction & Collection Account No.]	BLRT05757D
PAN No.: [Permanent Account No.]	AACCT7037M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Boiler Water Treatment Chemical.
No. of Employees :	28 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 4724
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. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small 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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
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

Name :	Mr. Jayaram
Designation :	Director
Date :	20.03.2012

LOCATIONS

Registered Office :	24/1, Anchepalya, Near Bus Stop, Tumkur Road, Nagasandra Post, Bangalore – 560073, Karnataka
Tel. No.:	91-44-22724631 / 24763900 / 24763933
Fax No.:	91-44-22724635 / 24763900
E-Mail :	trublu@sify.com sales@trublutech.in
Website :	www.trublutech.in

DIRECTORS

AS ON 31.03.2011

Name :	Mr. Ajith Kumar M A
Designation :	Director
Address :	Nandhanam, Amrithanagar, Kumarnellur, Wadakanchery, Trissur – 680590, Kerala
Date of Birth/Age :	31.05.1968
Date of Appointment :	18.05.2007
Mail Id:	ubckerat@yahoo.com

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	U24299KA2007PTC042848	TRUBLU TECHNOLOGIES PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO

Name :	Mr. Sudhakaran Akkaraparambil ganesh
Designation :	Director
Address :	No.41, Thusharam, Iii Cross, Kanaka Nagar, R.T.Nagar, Bangalore – 560032, Karnataka, India
Date of Birth/Age :	31.05.1968
date of appointment :	18.05.2007
Mail Id:	ubcblr@satyam.net.in

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	U24299KA2007PTC042848	TRUBLU TECHNOLOGIES PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO

Name :	Mr. Parthasarathy Jayram
Designation :	Director
Address :	F2, Sun Udayam Apartments, A3, Sriramnagar, Mugalivakkam Main Road, Porur, Chennai – 600016, Tamil Nadu
Date of Birth/Age :	28.06.1971
Date of Appointment :	18.05.2007

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	U24299KA2007PTC042848	TRUBLU TECHNOLOGIES PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO

Name :	Mr. Raghuramprasad Valakunja
Designation :	Director
Address :	708, 2 No. C Cross, 8^th Main 3rs Stage, 3^rd Block, Basa Veswaranagar, Bangalore – 560079, Karnataka
Date of Birth/Age :	10.12.1968
Date of Appointment :	18.05.2007

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	U24299KA2007PTC042848	TRUBLU TECHNOLOGIES PRIVATE LIMITED	Managing director	18/05/2007	18/05/2007	-	Active	NO

Name :	Mr. Chemmat Nandkumar
Designation :	Director
Address :	A2, Kausthubham, 3^rd Cross Kanakanagar, R T Nagar, Bangalore – 56032, Karnataka
Date of Birth/Age :	29.05.1970
Date of Appointment :	18.05.2007

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	U24299KA2007PTC042848	TRUBLU TECHNOLOGIES PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2011

Names of Shareholders		No. of Shares
Mr. V. Raghuramprasad , S/O V. Ramakrishna Sharma		1000
Mr. Ajith Kumar M.A S/O M .V. Achuthan		1000
Mr. Parthasarathi J, S/O Jayaram		1000
Mr. Gansesh A S , S/O A. Sudharan		1000
Mr. Nanadakuamr . C , S/O govindankutty Nair		1000
	Total	5000

AS ON 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Boiler Water Treatment Chemical.
Products :	Boiler Feed water Low Pressure Boilers Alkalinity Builder Corrosion Inhibitors-Organic and Inorganic High Pressure Boilers Corrosion Inhibitors Condensate Treatment Fuel Treatment-Pre combustion Combustion Catalysts For Liquid Petroleum Fuels Fuel Sludge Conditioners For Liquid Petroleum Fuels Fire Side-Post Combustion Soot Removers and Post combustion cleaning chemicals Cleaning Chemicals Solid Fuel Open Recirculating system Corrosion Inhibitors Dispersants & Antiscalants Membrane Treatment Polymer Based Chemistry Compactable With Most Of the Membranes Reverse Osmosis Membrane Treatment Membrane Antiscalants -General & Silica Antiscalants Acidic, Alkaline, Organic Cleaners, etc.
Exports :
Products :	Boiler Water Treatment Chemical
Countries :	· Sri Lanka · USA
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Customers :	Industries
No. of Employees :	28 (Approximately)
Bankers :	Punjab National Bank, No. 15, 1^st Stage, 1^st Cross, Peenya, Bangalore – 560057, Karnataka, India
Banking Relations :	----
Auditors :
Name :	G. Vijayagopalan and company Chartered Accountant
Address :	550, 7^th Main, 3^rd Stage, 3^rd Block, Basaveshwarangar, Bangalore – 560079, Karnataka, India
Associates/Subsidiaries :	NA

CAPITAL STRUCTURE

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.10/- each	Rs. 0.500 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		0.500	0.500	0.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.681	0.178	0.000
4] (Accumulated Losses)		0.000	0.000	(0.190)
NETWORTH		1.181	0.678	0.310
LOAN FUNDS
1] Secured Loans		3.290	2.110	2.236
2] Unsecured Loans		1.826	1.481	1.131
TOTAL BORROWING		5.116	3.591	3.367
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		6.297	4.269	3.677
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.559	0.534	0.596
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	1.477	1.029	0.983
	Sundry Debtors	5.931	3.369	3.225
	Cash & Bank Balances	0.019	0.001	0.033
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.758	0.538	0.497
Total Current Assets		9.185	4.937	4.738
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	4.446	1.202	1.657
	Provisions	0.000	0.000	0.000
Total Current Liabilities		4.447	1.202	1.657
Net Current Assets		4.738	3.735	3.081
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6.297	4.269	3.677

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
SALES
	TOTAL	19.730	14.433	12.805
PROFIT FOR THE YEAR		0.696	0.466	0.104

Expected Sales (2011-2012) : Rs.40.000 Millions

The above information has been parted by Mr. Jayaram (Director)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	NA	NA
Net Profit Margin (PBT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	NA
Return on Investment (ROI) (PBT/Networth)		NA	NA	NA
Debt Equity Ratio (Total Liability/Networth)		8.09	7.07	16.21
Current Ratio (Current Asset/Current Liability)		2.06	4.10	2.86

LOCAL AGENCY FURTHER INFORMATION

director report

the company has achieved a turnover of Rs. 19.730 millions in its fourth year as against Rs. 14.433 millions reported last year. The company has achieved a G. P Ratio of 51.37%. The directors have conducted the Board Meetings at frequent intervals and taken necessary measures to improve the turnover in coming years. Debtors outstanding works out to 30% as against 23% reported last years and it is alarming in the area of realization of debtors. The directors has committed to improve the situation in this area. The company has earned a profit of Rs. 0.696 million as against Rs. 0.466 million reported last year and its is a great achievement in the efforts of directors collectively after depreciation and interest. The directors has decided to concentrate and act to improve the profitability in the3 coming years. The directors do not recommend any dividend since the directors feel to do still sustaining the profitability and a general reserve is created.

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter's background	Yes
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	--
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	--
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

Form 8

This form is for	Creation of charge
Corporate identity number of the company	U24299ka2007ptc042848
Name of the company	TRUBLU TECHNOLOGIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	24/1, Anchepalya, Near Bus Stop, Tumkur Road, Nagasandra Post, Bangalore – 560073, Karnataka, india
Type of charge	· Book Debts Movable Property (not being pledge) Floating Charge
Particular of charge holder	Punjab National Bank, No. 15, 1^st Stage, 1^st Cross, Peenya, Bangalore – 560057, Karnataka, India E-Mail: tr_jairam@vsnl.net
Nature of description of the instrument creating or modifying the charge	Hypothecation of movables assets forming part of Fixed/Block assets Hypothecation of Goods and Bookdebts to secure cash credit facility (Both the above pertain to the same charge)
Date of instrument Creating the charge	09.01.2008
Amount secured by the charge	Rs. 2.500 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC- BPLR(presently 13.00% p.a) Terms of Repayment CC- Running Account Repayable on demand Margin CC – 25% Extent and Operation of the charge The Charge shall operate to the extent of Rs. 2.500 millions plus Interest, Commission, costs, Expenses and other charges thereon
Short particulars of the property charged	Hypothecation by way of First charge on raw materials viz. manufacturing material, stock in process, semi finished goods, finished goods(including bought out finished goods) viz. HEDP, Blutreat sodium sulphate and other water treatment products, Bookdebts, fixed assets and all other movables stored/installed at No. 24/1, Anchepalya, tumkur Road, Nagasandra PO, Bangalore-73 or at any other place

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.51.54
UK Pound	1	Rs.81.94
Euro	1	Rs.67.56

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
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	3
--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	yes
--AFFILIATION	YES/NO	no
--LISTED	YES/NO	no
--OTHER MERIT FACTORS	YES/NO	yes
TOTAL		26

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.