MIRA INFORM REPORT

Report Date :

26.04.2012

IDENTIFICATION DETAILS

Name :	MAHANAGAR ENGINEERING PRIVATE LIMITED
Registered Office :	15, India exchange Place, Kolkata – 700001, West Bangal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.12.1978
Com. Reg. No.:	21-031822
Capital Investment/ Paid-up Capital:	Rs.1.000 Million
CIN No.: [Company Identification No.]	U34300WB1978PTC031822
Pan No :	AABCM9902D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture and Exporter of Liquid Packing Machine
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 30000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual 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

Name :	Mr. Anup Tiwari
Designation :	Director
Contact No.:	91-999054970
Date :	17.04.2012

LOCATIONS

Registered Office :	15, India exchange Place, Kolkata – 700001, West Bangal, India
Tel. No.:	91-33-30230007/ 22201427/ 26/ 2424523
Mobile No.:	91-9873907980/ 999054970 (Mr. Anup Tiwari)
Fax No.:	91-33-22306252
E-Mail :	halmari@amarawatitea.com mnepl1@cal2.vsnl.net.in anup@indiarams.com
Location :	Rented
Factory :	C – 8, Sector – 8, Noida – 201 301, Uttar Pradesh, India
Tel. No.:	91-120-2424523/ 3247691
Fax No.:	91-120-2424523/ 2511725
Email :	anup@primeexports.biz anup@vexport.net
Website:	www.indiamart.com/mahanagar-engineering

DIRECTORS

As on: 30.09.2011

Name :

Mr. Sunil Kumar Daga

Designation :

Director

Address :

25, Ballygunge Park, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

06.03.1941

Date of Appointment :

07.04.2005

Pan No :

ACUPD8176C

DIN No:

004411579

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	U51109WB1950PLC018728	ESSEL MINING AND INDUSTRIES LIMITED	Director	18-07-75	18-07-75	-	Active	NO
2	U70101WB1980PLC032592	RAJNIGANDHA APARTMENTS LIMITED	Director	30-04-82	30-04-82	-	Active	NO
3	U67120MH1982PLC027789	FIVE-STAR TRADING AND INVESTMENT COMPANY LIMITED	Director	31-08-82	31-08-82	-	Active	NO
4	U67120MH1982PTC028252	RAJRATNA HOLDINGS PRIVATE LIMITED	Director	25-07-84	25-07-84	-	Active	NO
5	U70109WB1985PLC038472	PIC PROPERTIES LIMITED	Director	04-09-86	04-09-86	-	Active	NO
6	U34300WB1990FTC049600	V.E. MOTOR ACCESSORIES AND COMPONENTS PRIVATELIMITED	Director	10-08-90	10-08-90	-	Active	NO
7	U74899DL1990PTC041298	AMARAWATI EXPORTS PRIVATE LIMITED	Director	28-08-90	28-08-90	-	Strike off	NO
8	L51109WB1982PLC034798	UMANG COMMERCIAL CO LIMITED	Director	30-06-92	30-06-92	-	Active	NO
9	U65920MH1987PTC044226	MRAGYA FINANCE & INVESTMENT PRIVATE LIMITED	Director	27-08-92	27-08-92	-	Active	NO
10	L99999MH1985PLC035905	MANSOON TRADING COMPANY LIMITED	Director	06-09-93	06-09-93	-	Active	NO
11	L74140WB1983PLC036546	MANGALAM SERVICES LIMITED	Director	31-12-94	31-12-94	-	Active	NO
12	U29130WB1996PLC079441	MADHUSUDAN ELECTRO CIRCUIT SYSTEMS LIMITED	Director	22-04-96	22-04-96	-	Active	NO
13	U51109WB1998PTC087058	RAJNIGANDHA VANIJYA PRIVATE LIMITED	Whole-time director	13-04-98	13-04-98	-	Active	NO
14	U31200WB1987PTC042919	NOUVELLE TEA PRIVATE LIMITED	Director	18-01-02	18-01-02	30-06-10	Active	NO
15	U34300WB1978PTC031822	MAHANAGAR ENGINEERING PRIVATE LIMITED	Director	07-04-05	07-04-05	-	Active	NO

Name :

Mr. Anup Tiwari

Designation :

Additional Director

Address :

324B, Sector – 15, A Gautam Buddh Nagar, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

21.09.1972

Date of Appointment :

11.12.2008

Pan No :

ABMPT1099F

Din No :

00621744

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	U34103WB1985PTC038909	RAMS ENGINEERING WORKS PRIVATE LIMITED	Director	01-04-97	01-04-97	-	Active	NO
2	U31909WB1986PTC040945	RAMS HITECH AUTO PRIVATE LIMITED	Director	25-06-01	25-06-01	-	Active	NO
3	U28991WB1963PLC025877	VIKRAM ENGINEERING LIMITED	Director	24-12-02	24-12-02	-	Active	NO
4	U34300WB1978PTC031822	MAHANAGAR ENGINEERING PRIVATE LIMITED	Director	29-09-09	11-12-08	-	Active	NO

Name :

Mr. Amit Daga

Designation :

Director

Address :

25, Ballygunge Park, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

31.03.1964

Date of Appointment :

17.03.2010

Pan No :

AEGPD0136G

DIN NO :

00065118

Other Directorships :

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	U28991WB1963PLC025877	VIKRAM ENGINEERING LIMITED	Director	06-12-82	06-12-82	-	Active	NO
2	L65993DL1972PLC005958	MERCURY INVESTMENTS LIMITED	Director	10-03-83	10-03-83	19-12-11	Active	NO
3	L67120WB1971PLC027962	SWADESHI FAN INDUSTRIES LIMITED	Director	27-07-89	27-07-89	19-12-11	Active	NO
4	U29130WB1996PLC079441	MADHUSUDAN ELECTRO CIRCUIT SYSTEMS LIMITED	Director	22-04-96	22-04-96	-	Active	NO
5	U34300WB1978PTC031822	MAHANAGAR ENGINEERING PRIVATE LIMITED	Director	17-03-10	18-02-05	-	Active	NO
6	U15421WB1913PLC002430	AMARAWATI TEA CO LIMITED	Managing director	01-04-11	30-06-06	-	Active	NO
7	U70101WB2007PTC118497	SAMARPAN DEVELOPERS PRIVATE LIMITED	Director	11-09-07	11-09-07	-	Active	NO
8	U51109WB2008PTC122694	SOHAM VANIJYA PRIVATE LIMITED	Director	15-02-08	15-02-08	12-06-08	Active	NO
9	U65993WB1981PTC034105	RAJNIGANDHA PROMOTIONS PRIVATE LIMITED	Director	17-03-10	17-03-10	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Sunil Kumar Daga	45800
Shanta Daga	4200
Amit Daga	46000
Seema Daga	4000
Total	100000

As on: 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture and Exporter of Liquid Packing Machine

Products :

Product Description	ITC Code
Auto Harness Ball Bearings	8482.10

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Union Bank of India, 15 India exchange Place, Kolkata – 700001, West Bengal, India

Facilities :

Secured Loan Particular	As on 31.03.2011 (Rs In Millions)	As on 31.03.2010 (Rs in Millions)
HDFC Bank	0.277	0.049
Total	0.277	0.049
Unsecured Loan Particular	As on 31.03.2011 (Rs In Millions)	As on 31.03.2010 (Rs in Millions)
From Director	2.346	2.946
From Share Holder	0.000	1.008
From Companies	0.054	1.633
Total	2.400	5.587

Banking Relations :	--
Auditors :
Name :	R K Patodi and Company Chartered Accountant
Address :	2 Church Lane, 4^th Floor, Suite No.404 A, Kolkata – 700001, West Bangal, India
E-Mail :	rkpatodi@hotmail.com
Pan No :	AACFR8036M

CAPITAL STRUCTURE

As on: 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Share	Rs.10/- each	Rs.2.00 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Share	Rs.10/- each	Rs.1.000 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		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	1.800
3] Reserves & Surplus		6.713	6.832	6.620
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		7.713	7.832	9.420
LOAN FUNDS
1] Secured Loans		0.277	0.049	0.191
2] Unsecured Loans		2.400	5.587	6.734
TOTAL BORROWING		2.677	5.636	6.925
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		10.390	13.468	16.345
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.393	1.143	1.545
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.669	4.669	4.669
DEFERREX TAX ASSETS		0.097	0.076	0.052
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.623	0.801	2.038
	Sundry Debtors	3.901	2.802	3.773
	Cash & Bank Balances	2.646	3.932	9.059
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.468	7.547	15.759
Total Current Assets		10.638	15.082	30.629
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	5.144	4.445	15.038
	Other Current Liabilities	0.825	1.650	4.226
	Provisions	0.438	1.407	1.286
Total Current Liabilities		6.407	7.502	20.550
Net Current Assets		4.231	7.580	10.079
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		10.390	13.468	16.345

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	14.484	10.646	19.889
		Other Income	1.253	2.636	1.731
		Profit on sale of Motor Car	0.016	0.025	0.000
		Profit on sale of Investment	0.000	0.000	0.427
		TOTAL (A)	15.753	13.307	22.047
Less	EXPENSES
		Store, Spare parts and Computer consumed	0.251	0.320	0.745
		Lobour Charges	0.622	0.568	0.851
		Carriage Outward	1.870	1.276	2.397
		Salary, Bonus and Allowance	2.645	2.568	2.997
		Miscellaneous and Other Expenses	0.516	1.006	1.284
		Traveling and Conveyance Expenses	0.534	0.526	0.904
		Cost of Goods Sold	7.482	4.278	8.622
		Other Expenses	0.897	1.759	2.652
		TOTAL (B)	7.335	8.020	11.830
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.936	1.009	1.595
Less	FINANCIAL EXPENSES (D)		0.263	0.348	0.426
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.673	0.661	1.169
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.417	0.352	0383
	PROFIT BEFORE TAX (E-F) (G)		0.256	0.309	0.786
Less	TAX (H)		0.374	0.097	0.384
	PROFIT AFTER TAX (G-H) (I)		(0.118)	0.212	0.402
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		5.825	5.613	5.211
	BALANCE CARRIED TO THE B/S		5.707	5.828	5.613
	EARNINGS IN FOREIGN CURRENCY		13.758	8.358	16.675
	Earnings Per Share (Rs.)		1.77	2.12	4.02

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(0.75)	1.59	1.83
Net Profit Margin (PBT/Sales)	(%)	1.77	2.90	3.95
Return on Total Assets (PBT/Total Assets}	(%)	2.13	1.90	2.44
Return on Investment (ROI) (PBT/Networth)		0.03	0.04	0.08
Debt Equity Ratio (Total Liability/Networth)		1.18	1.68	2.92
Current Ratio (Current Asset/Current Liability)		1.66	2.01	1.49

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	Yes
No. of Employees	No
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	No
Profitability for last three years	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

Fixed Assets:

· Plant and Machinery

· Furniture and Fittings

· Refrigerator

· Air conditioning

· Factory Buildings

· Generator

· Motor Cars

· Computer

· Fax Machine

· Cycle

· Office Equipments

· Cellular Phone

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.52.49
UK Pound	1	Rs.84.66
Euro	1	Rs.96.25

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	Yes
--LISTED	YES/NO	No
--OTHER MERIT FACTORS	YES/NO	Yes
TOTAL		45

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.