MIRA INFORM REPORT

Report Date :

20.04.2012

IDENTIFICATION DETAILS

Name :	SONA PRODUCTS PRIVATE LIMITED

Registered Office :	F-86/1, Okhla Industrial Area, Phase-1, New Delhi – 110 020

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	13.04.1993

Com. Reg. No.:	55-053036

Capital Investment / Paid-up Capital :	Rs.0.923 million

CIN No.: [Company Identification No.]	U21000DL1993PTC053036

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Exporter of Paper Stationery Items, like Note Book, Diaries etc.

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

11-25

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

Status :	No Business Activity

Payment Behaviour :	Unknown

Litigation :	--

Comments :	As per the latest financials available with the Registrar of Companies, the company has no business activities. The management remains non-cooperative during our investigation. Payments are unknown. The company can be considered for business dealings on a safe and secured 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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION DECLINED

Management non-cooperative

LOCATIONS

Registered Office :	F-86/1, Okhla Industrial Area, Phase-1, New Delhi – 110 020, India
Tel. No.:	91-11-47219999/ 26811313/ 41616566/ 26811316/ 26811314/ 26811321
Fax No.:	91-11-26811317
E-Mail :	solutions@sekhriassociates.com
Website :	www.sona.in

DIRECTORS

As on 30.09.2011

Name :

Mr. Kishore Kumar Mittal

Designation :

Director

Address :

C-137, Sarvodya Enclave, New Delhi - 110 017, India

Date of Appointment :

13.04.1993

DIN No.:

00237020

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	U74899DL1986PTC023580	Sona Printers Private Limited	Director	10-03-86	10-03-86	Active	NO
2	U21000DL1993PTC053036	Sona Products Private Limited	Director	13-04-93	13-04-93	Active	NO

Name :

Mr. Vijay Kumar Mittal

Designation :

Director

Address :

C-137, Sarvodya Enclave, New Delhi - 110 017, India

Date of Appointment :

13.04.1993

DIN No.:

00237103

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	U74899DL1986PTC023580	Sona Printers Private Limited	Director	10-03-86	10-03-86	Active	NO
2	U21000DL1993PTC053036	Sona Products Private Limited	Director	13-04-93	13-04-93	Active	NO

Name :

Mr. Ajay Kumar Mittal

Designation :

Director

Address :

C-137, Sarvodya Enclave, New Delhi - 110 017, India

Date of Appointment :

13.04.1993

DIN No.:

00237136

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	U21000DL1993PTC053036	Sona Products Private Limited	Director	13-04-93	13-04-93	Active	NO
2	U74899DL1986PTC023580	Sona Printers Private Limited	Director	02-01-07	02-01-07	Active	NO

Name :

Mr. Nikhil MIttal

Designation :

Director

Address :

C-137, Sarvodya Enclave, New Delhi - 110 017, India

Date of Appointment :

20.09.2005

DIN No.:

00237176

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	U74899DL1986PTC023580	Sona Printers Private Limited	Director	01-07-05	01-07-05	Active	NO
2	U21000DL1993PTC053036	Sona Products Private Limited	Director	20-09-05	20-09-05	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders		No. of Shares
Kishore Kumar Mittal, HUF		30100
Vijay Kumar Mittal, HUF		30100
Ajay Kumar Mittal, HUF		30100
Nikhil Mittal		450
Achala Mittal		100
Usha Mittal		100
Chitra Mittal		100
Kishore Kumar Mittal		100
Vijay Kumar Mittal		100
Ajay Kumar Mittal		100
Abhishek Mittal		450
Ayush Mittal		450
Total		92250

As on 30.09.2011

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Paper Stationery Items, like Note Book, Diaries etc.

GENERAL INFORMATION

Customers :

v Gyan Ganga (Patna)

v Happy Senior School

v Mangla Book Stall (RPS)

No. of Employees :

Information declined by the management

Bankers :

v Union Bank of India, Okhla

v Indian Overseas Bank

Facilities :

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
From Shareholders
K.K. Mittal	0.785	1.200
A.K. Mittal (HUF)	1.205	1.205
V.K. Mittal (HUF)	1.200	1.200
Total	3.190	3.605


Banking Relations :	--

Auditors :
Name :	Sekhri and Associates Chartered Accountants
Address :	Flat No.104-105, 28 Feroze Gandhi Road, Lajpat Nagar-III, New Delhi – 110 024, India
Income-tax PAN of auditor or auditor's firm :	AARFS7206F

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
92250	Equity Shares	Rs.10/- each	Rs.0.923 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		0.923	0.923	0.923
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(2.805)	(2.796)	(2.780)
NETWORTH		(1.882)	(1.873)	(1.857)
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		3.190	3.605	6.510
TOTAL BORROWING		3.190	3.605	6.510
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		1.308	1.732	4.653

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		0.000	1.245	1.245
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.360	0.360	3.261
	Cash & Bank Balances	0.076	0.077	0.219
	Other Current Assets	0.830	0.000	0.000
	Loans & Advances	0.071	0.071	0.071
Total Current Assets		1.337	0.508	3.551
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors & Other Current Liabilities	0.019	0.011	0.132
	Provisions	0.010	0.010	0.011
Total Current Liabilities		0.029	0.021	0.143
Net Current Assets		1.308	0.487	3.408

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		1.308	1.732	4.653

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	0.000	0.000	0.179
		Other Income	0.000	0.000
		TOTAL (A)	0.000	0.000	0.179

Less	EXPENSES
		Office Expenses	0.009	0.016	1.507
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	0.009	0.016	1.507

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.009)	(0.016)	(1.328)

Less	INTEREST (D)		0.000	0.000	0.000

	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.009)	(0.016)	(1.328)

Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000	0.000	0.392

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(0.009)	(0.016)	(1.720)

Less	TAX (H)		0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(0.009)	(0.016)	(1.720)

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(2.796)	(2.780)	(1.114)

	Income Tax Refund		0.000	0.000	0.055

	BALANCE CARRIED TO THE B/S		(2.805)	(2.796)	(2.780)

	Earnings Per Share (Rs.)		(0.10)	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.00	0.00	(960.89)

Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	NA

Return on Total Assets (PBT/Total Assets}	(%)	(0.67)	(0.91)	(35.86)

Return on Investment (ROI) (PBT/Networth)		0.00	0.01	0.93

Debt Equity Ratio (Total Liability/Networth)		(1.71)	(1.94)	(3.58)

Current Ratio (Current Asset/Current Liability)		46.10	24.19	24.83

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	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
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	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	--
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

OPERATIONS:

During the year the company did not carry on the business and there was no income from sales and other income. The Companies Administrative expenses, Salary, Depreciation and Other Expenses were Rs.0.009 million as against Rs.0.016 million in the previous year. The company had a Loss of Rs.0.009 million (Previous Year Loss of Rs.0.016 million). The accumulated debit balance in the Profit and Loss account amounting to Rs.2.805 million has been carried forward. The Directors anticipate better business prospects and increased profitability in the current and subsequent years.

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.51.89
UK Pound	1	Rs.83.18
Euro	1	Rs.68.06

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.

MIRA INFORM REPORT

0.000

0.360

0.076

0.830

0.071

1.337

0.019

0.010

0.029

1.308

0.00

0.00

(1.71)

46.10

Unit