MIRA INFORM REPORT

Report Date :

25.04.2012

IDENTIFICATION DETAILS

Name :	GAURAV INK PRIVATE LIMITED
Registered Office :	307, Udyog Nagar, Swarn Park, Mundka Nangloi, New Delhi – 110041
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.03.1998
Com. Reg. No.:	55-092891
Capital Investment / Paid-up Capital :	Rs.0.844 Million
CIN No.: [Company Identification No.]	U24223DL1998PTC092891
TAN No.: [Tax Deduction & Collection Account No.]	DELG11744F
PAN No.: [Permanent Account No.]	AAACG5169M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Distributors and Trader of Printing Inks.
No. of Employees :	8 (Approximately)

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 9700
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability appears to be low. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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

Name :	Mr. Gaurav Garg
Designation :	Chief Executive Office
Contact No.:	91-9811800533
Date :	17.04.2012

LOCATIONS

Registered Office/ Factory :	307, Udyog Nagar, Swarn Park, Mundka Nangloi, New Delhi – 110041, India
Tel. No.:	91-11-28343968
Mobile No.:	91-9811800533 (Mr. Gaurav)
Fax No.:	Not Available
E-Mail :	gauravink@gmail.com aswanigarg@yahoo.co.in
Location :	Owned

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Hari Niwas Garg

Designation :

Director

Address :

CP – 168, Pitampura, Delhi – 110034, India

Date of Birth/Age :

03.02.1954

Qualification :

Graduate

Date of Appointment :

23.03.1998

DIN No.:

00349600

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	U24223DL1998PTC092891	GAURAV INK PRIVATE LIMITED	Director	23/03/1998	23/03/1998	Active	NO
2	U24232DL2009PTC196326	ANVI CHEME IMPEX PRIVATE LIMITED	Director	23/11/2009	23/11/2009	Active	NO

Name :

Mrs. Shashi Hari Garg

Designation :

Director

Address :

CP – 168, Pitampura, Delhi – 110034, India

Date of Birth/Age :

23.11.1961

Qualification :

Graduate

Date of Appointment :

23.03.1998

DIN No.:

00349723

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	U24223DL1998PTC092891	GAURAV INK PRIVATE LIMITED	Director	23/03/1998	23/03/1998	Active	NO

KEY EXECUTIVES

Name :	Mr. Gaurav Garg
Designation :	Chief Executive Office

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Hari Niwas Garg	52400
Shashi Hari Garg	25000
Gaurav Hari Garg	2000
Hari Niwas Garg (HUF)	5000
Total	84400

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Distributors and Trader of Printing Inks.
Terms :
Selling :	Depends
Purchasing :	Depends

GENERAL INFORMATION

Suppliers :

· M. S. Jagruti Plastic Limited

· Swastik Chemical

· J. K. Associates

· Anand Chemicals

· Anvi Cheme Impex Private Limited

· Chemi Tech Engineers Private limited

· Cytech Coatings (Private) Limited

· Jagruti Plastics Limited

· Shiva Drums Private Limited

· Spectrum Industries

Customers :

End Users

· Arman Industries

· Gupta Plastics

· Swastik Industries

· A K Enterprises

· Amba Poly Chrome Private Limited

· Ashima Enterprises

· Bobby Enterprises

· Camy Print Private Limited

· Front Line Pack World

· Jai Shree Poly Plast Private Limited

· Kamdhany Plastics Industries

No. of Employees :

8 (Approximately)

Bankers :

· Canara Bank

C-33, Aggarwal Modern Bazar, Keshavpuram, New Delhi – 110035, India

· HDFC Bank

· Axis Bank

· State Bank of India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
HDFC Bank	0.254	0.000
CC A/c with Canara Bank	0.400	1.331
Total	0.654	1.331
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Shilpa Garg	0.267	0.245
Deepti Garg	0.208	0.191
Gaurav Enterprises	0.150	0.150
Total	0.625	0.586

Banking Relations :	--
Auditors :
Name :	Ashwani Garg and Associates Chartered Accountant
Address :	B-303, Pal Mohan Plaza, Building, DB Gupta Road, Karol Bagh, New Delhi – 110005, India
Tel No.:	91-11-23544096
Mobile No.:	91-9811583029
Pan No.:	AGYPG8726H
Email :	aswanigarg@yahoo.co.in

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
84400	Equity Shares	Rs.10/- each	Rs.0.844 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		0.844	0.844	0.490
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.585	1.482	0.000
4] (Accumulated Losses)		0.000	0.000	(0.031)
NETWORTH		2.429	2.326	0.459
LOAN FUNDS
1] Secured Loans		0.654	1.331	0.410
2] Unsecured Loans		0.625	0.586	1.920
TOTAL BORROWING		1.279	1.917	2.330
DEFERRED TAX LIABILITIES		0.000	0.000	0.008
TOTAL		3.708	4.243	2.797
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.124	0.589	0.275
Capital work-in-progress		0.000	0.300	0.000
INVESTMENT		0.013	0.006	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.102	2.011	2.567
	Sundry Debtors	3.841	3.461	2.630
	Cash & Bank Balances	0.041	0.090	0.021
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.093	1.254	0.218
Total Current Assets		6.077	6.816	5.436
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	3.223	2.976	2.749
	Other Current Liabilities	0.061	0.307	0.037
	Provisions	0.222	0.185	0.128
Total Current Liabilities		3.506	3.468	2.914
Net Current Assets		2.571	3.348	2.522
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3.708	4.243	2.797

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		TOTAL (A)	15.470	17.490	8.925
Less	EXPENSES
		TOTAL (B)	14.955	17.188	8.798
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.515	0.302	0.127
Less	FINANCIAL EXPENSES (D)		0.129	0.060	0.012
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.386	0.242	0.115
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.243	0.092	0.076
	PROFIT BEFORE TAX (E-F) (G)		0.143	0.150	0.039
Less	TAX (H)		0.050	0.038	0.021
	PROFIT AFTER TAX (G-H) (I)		0.093	0.112	0.018
	Earnings Per Share (Rs.)		1.10	1.32	0.36

Particulars	31.03.2012
Sales Turnover (Approximately)	25.000

Expected Sales (2012-13): Rs.30.000 Millions

The above information has been parted by Mr. Gaurav Garg.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.60	0.64	0.20
Return on Total Assets (PBT/Total Assets}	(%)	1.99	2.03	0.68
Return on Investment (ROI) (PBT/Networth)		0.06	0.06	0.08
Debt Equity Ratio (Total Liability/Networth)		1.97	2.32	11.42
Current Ratio (Current Asset/Current Liability)		1.73	1.97	1.87

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	Yes
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

TRADE REFERENCE:

· Arman Industries

· Gupta Plastics

· Swastik Industries

· M. S. Jagruti Plastic Limited

· Swastik Chemical

· J. K. Associates

FORM 8:

Corporate identity number of the company	U24223DL1998PTC092891
Name of the company	GAURAV INK PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	307. Udyog Nagar, Swan Park Mundka Nangloi, New Delhi – 110041, India aswanigarg@yahoo.co.in
This form is for	Modification of charge
Charge identification number of the modified	10136604
Type of charge	Book Debts Movable Property
Particular of charge holder	· Canara Bank C-33, Aggarwal Modern Bazar, Keshavpuram, New Delhi – 110035, India akandco@hotmail.com
Nature of description of the instrument creating or modifying the charge	Supplemental Agreement along with link letter in respect of enhancement of credit facilities
Date of instrument Creating the charge	22.03.2010
Amount secured by the charge	Rs.3.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest As per Agreement Terms of Repayment On Demand Margin As pre Agreement Extent and Operation of the charge 100% Others The above is to secure OD SME Limit of Rs. 3.000 Millions together with interest, costs, expenses and other charges etc.
Short particulars of the property charged	Hypothecation of Paid Stock of raw material, semi-finished goods, finished goods in trade and book debts not older than 90 days.
Particulars of the present modification	The existing credit facilities of Rs.1.500 Millions has been enhanced to Rs.3.000 Millions. Other Terms and Conditions remain the same

FIXED ASSETS:

· Plant and Machinery

· Beat Car

· Generator

· Scooter

· Car (Honda)

· Fire Extinguisher

· Vikram Auto

· Weighing Machine

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.52.79
UK Pound	1	Rs.85.17
Euro	1	Rs.69.53

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	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	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.