MIRA INFORM REPORT

Report Date :

13.04.2012

IDENTIFICATION DETAILS

Name :	JHAMB ENTERPRISES PRIVATE LIMITED
Registered Office :	172, Industrial Area A, Ludhiana – 141001, Punjab
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.12.1992
Com. Reg. No.:	16-012853
Capital Investment / Paid-up Capital :	Rs.40.243 Millions
CIN No.: [Company Identification No.]	U51109PB1992PTC012853
TAN No.: [Tax Deduction & Collection Account No.]	JLDJ01121B
PAN No.: [Permanent Account No.]	AAACJ4165G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of Knitted Fabrics.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 220000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, 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 – 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

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Munish
Designation :	Director
Contact No.:	91-99142622697
Date :	04.04.2012

LOCATIONS

Registered Office/ Factory :	172, Industrial Area A, Ludhiana – 141001, Punjab, India
Tel. No.:	91-161-2222749/2227129/5013293
Mobile No.:	91-99142622697 (Mr. Munish)
Fax No.:	91-161-2227129
E-Mail :	info@jhambenterprises.com rameshbabbar@rediffmail.com
Website :	www.jhambenterprises.com
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Vinay Bhushan Jhamb

Designation :

Director

Address :

Shakti Nagar, Fazilka – 152123, Punjab, India

Date of Appointment :

22.12.1994

DIN No.:

00505654

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	U67120WB1983PLC035852	APAAR VYAPAR LIMITED	Director	30/06/1993	30/06/1993	-	Active	NO
2	U51109PB1992PTC012853	JHAMB ENTERPRISES PRIVATE LIMITED	Director	22/12/1994	22/12/1994	-	Active	NO
3	U24232DL1981PTC012374	JAGDAMBA CHEMICALS PRIVATE LIMITED	Director	30/01/1995	30/01/1995	-	Active	NO
4	U22219DL1976PTC008056	EXCELLENT PRINTERS PRIVATE LIMITED	Director	30/01/1995	30/01/1995	-	Active	NO
5	U00000DL1981PTC012375	OSWAL INTERMEDIATES PRIVATE LIMITED	Director	30/01/1995	30/01/1995	-	Active	NO
6	U74899DL1981PTC012376	OSWAL FIBRES PRIVATE LIMITED	Director	30/01/1995	30/01/1995	-	Active	NO
7	U74899DL1980PTC010157	NORTH INDIA CARPET COMPANY PRIVATE LIMITED	Director	30/01/1995	30/01/1995	-	Active	NO
8	U17111PB1997PTC019696	JHAMB COTTONS PRIVATE LIMITED	Director	1/07/1997	1/07/1997	-	Active	NO
9	U15203PB1992PLC012647	OSWAL EXIM TRADE LIMITED	Director	15/03/2005	15/03/2005	-	Active	NO

Name :

Mr. Navtej Jhamb

Designation :

Director

Address :

Shakti Nagar, Fazilka – 152123, Punjab, India

Date of Appointment :

22.12.1992

DIN No.:

01717624

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	U51109PB1992PTC012853	JHAMB ENTERPRISES PRIVATE LIMITED	Director	22/12/1992	22/12/1992	-	Active	NO
2	U17111PB1997PTC019696	JHAMB COTTONS PRIVATE LIMITED	Director	2/04/1997	2/04/1997	-	Active	NO

Name :

Mr. Adarsh Jhamb

Designation :

Director

Address :

Shakti Nagar, Fazilka – 152123, Punjab, India

Date of Appointment :

22.12.1992

DIN No.:

01718198

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	U51109PB1992PTC012853	JHAMB ENTERPRISES PRIVATE LIMITED	Director	22/12/1992	22/12/1992	-	Active	NO
2	U17111PB1997PTC019696	JHAMB COTTONS PRIVATE LIMITED	Director	1/07/1997	1/07/1997	-	Active	NO

Name :

Mr. Munish

Designation :

Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Prem Sagar	589000
Vinay Jhamb	842652
Adarsh Jhamb	828212
Navtej Jhamb	948102
Vinay Bhushan Jhamb (HUF)	273500
Navtej Jhamb (HUF)	270000
Adarsh Jhamb (HUF)	270000
Om Prakash Kukkar	2850
Total	4024316

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	99.93
Other top fifty shareholders	0.07
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of Knitted Fabrics.
Terms :
Selling :	L/C/ Cash
Purchasing :	L/C/ Cash

GENERAL INFORMATION

Customers :

· Wholesalers

· Trader

No. of Employees :

Not Divulged

Bankers :

Canara Bank, Court Road, Fazilka – 152123, Punjab, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans bank secured	0.000	7.203
Working capital loans	168.284	172.611
Loans taken for vehicles	12.809	11.797
Others debts	25.839	29.989
Total	206.932	221.600
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Fixed deposits unsecured	43.659	40.992
Total	43.659	40.992

Banking Relations :	--
Auditors :	Not Divulged

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4024316	Equity Shares	Rs.10/- each	Rs.40.243 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		40.243	40.243
2] Share Application Money		0.630	0.630
3] Reserves & Surplus		15.041	9.885
4] (Accumulated Losses)		0.000	0.000
NETWORTH		55.914	50.758
LOAN FUNDS
1] Secured Loans		206.932	221.600
2] Unsecured Loans		43.659	40.992
TOTAL BORROWING		250.591	262.592
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		306.505	313.350
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		56.768	56.936
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	42.893	37.327
	Sundry Debtors	257.713	240.676
	Cash & Bank Balances	8.639	10.303
	Other Current Assets	0.000	0.000
	Loans & Advances	61.110	76.093
Total Current Assets		370.355	364.399
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	86.568	95.629
	Other Current Liabilities	36.850	12.056
	Provisions	0.200	0.300
Total Current Liabilities		123.618	107.985
Net Current Assets		346.737	256.414
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		306.505	313.350

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	1607.302
		Other Income	NA
		TOTAL (A)	NA	NA
Less	EXPENSES
		Purchases	1537.376
		Manufacturing expenses	22.793
		Administrative expenses	8.195
		Preliminary expenses	0.030	NA
		TOTAL (B)	1568.394
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		38.908	NA
Less	FINANCIAL EXPENSES (D)		33.381	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.527	NA
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.168	NA
	PROFIT BEFORE TAX (E-F) (G)		1.359	NA
Less	TAX (H)		0.200	NA
	PROFIT AFTER TAX (G-H) (I)		1.159	NA
	Earnings Per Share (Rs.)		0.29	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
Net Profit Margin (PBT/Sales)	(%)	0.08	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.032	NA
Return on Investment (ROI) (PBT/Networth)		0.02	NA
Debt Equity Ratio (Total Liability/Networth)		6.69	7.30
Current Ratio (Current Asset/Current Liability)		2.99	3.37

LOCAL AGENCY FURTHER INFORMATION

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	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last two years	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
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

FIXED ASSETS

· Freehold Land

· Building

· Plant and Machinery

· Office equipments

· 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.51.44
UK Pound	1	Rs.81.96
Euro	1	Rs.67.61

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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.