MIRA INFORM REPORT

Report Date :

03.08.2012

IDENTIFICATION DETAILS

Name :	EDU-TEK EQUIPMENTS INDIA PRIVATE LIMITED
Registered Office :	162, Vigyan Vihar, New Delhi-110092, Delhi
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	30.07.1998
Com. Reg. No.:	55-095274
Capital Investment / Paid-up Capital :	Rs.0.300 Million
CIN No.: [Company Identification No.]	U36991DL1998PTC095274
TAN No.: [Tax Deduction & Collection Account No.]	DELE03910E
PAN No.: [Permanent Account No.]	AAACE8319B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of I. C. Engine Lab Equipments, Renewable and non conventional energy lab equipments, hydraulic and fluid machinery etc.
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 17000
Status :	Small Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company in its field. It’s scale of activities are limited. 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Rajinder Kumar Jain
Designation :	Director
Contact No.:	91-9810106994
Date :	30.07.2012

LOCATIONS

Registered Office :	162, Vigyan Vihar, New Delhi-110092, Delhi, India
Tel. No.:	91-11-22041440 / 32638735
Mobile No.:	91-9810106994 (Mr. Rajinder Kumar Jain)
E-Mail :	ca_pawanchadha@hotmail.com edutek@gmail.com
Website :	www.edutek.com
Location :	Owned
Manufacturing Unit:	C-63, Street No.8, Guru Vihar, Rohan Road, Ludhiana, Punjab, India

IRECTORS

As on 30.09.2011

Name :	Mr. Rajinder Kumar Jain
Designation :	Director
Address :	162, Vigyan Vihar, New Delhi-110092, Delhi, India
Date of Birth/Age :	04.01.1960
Date of Appointment :	05.02.2001
DIN No :	00654690
Name :	Mr. Punam Jain
Designation :	Director
Address :	162, Vigyan Vihar, New Delhi-110092, Delhi, India
Date of Birth/Age :	01.05.1966
Date of Appointment :	30.07.1998
DIN No :	00654662

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Rajinder Kumar Jain	26010
Punam Jain	4010
Total	30020

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of I. C. Engine Lab Equipments, Renewable and Non Conventional Energy Lab Equipments, Hydraulic and Fluid Machinery etc.
Exports :
Products :	· I. C. Engine Lab Equipments · Renewable · Non Conventional Energy Lab Equipments · Hydraulic · Fluid Machinery
Countries :	European Countries
Imports :
Products :	Machinery
Countries :	· Korea · Europe
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Heliocentris – Germany

Customers :

Wholesalers and Retailers

· Indian Institute of Technology

No. of Employees :

10 (Approximately)

Bankers :

Karnataka Bank Limited, Savith Vihar Branch, New Delhi-110092, Delhi, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Karnataka Bank - OD *	2.370	2.949
HDFC Bank Ltd.- Term Loan **	0.269	0.619
Total	2.639	3.568
Note: * Secured by hypothecation of book debts & stock and personal gurantee of the directors of the company **Repayable in next 12 months
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Directors, shareholders & their Relatives	2.870	1.674
Total	2.870	1.674

Banking Relations :	--
Auditors :
Name :	Anil Ramkumar and Company Chartered Accountant
Address :	10/206-207, Sikka Complex, Peet Vihar, Delhi-110092, India
Tel. No.:	91-11-22443318
Mobile No.:	91-9899117080
E-Mail :	aniljain_2004@rediffmail.com
PAN.:	AAGFA7662N

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30020	Equity Shares	Rs.10/- each	Rs. 0.300 Million
	Share Application Money		Rs.0.284 Million
	Total		Rs.0.584 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		0.300	0.300	0.300
2] Share Application Money		0.284	0.284	0.284
3] Reserves & Surplus		3.692	3.435	3.117
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.276	4.019	3.701
LOAN FUNDS
1] Secured Loans		2.639	3.568	0.913
2] Unsecured Loans		2.870	1.674	3.175
TOTAL BORROWING		5.509	5.242	4.088
DEFERRED TAX LIABILITIES		0.005	0.006	0.008
TOTAL		9.790	9.267	7.797
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.069	0.077	0.094
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		2.128	2.128	1.211
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.731	0.934	1.340
	Sundry Debtors	4.492	3.122	10.945
	Cash & Bank Balances	1.377	5.852	0.558
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	4.273	4.566	3.376
Total Current Assets		11.873	14.474	16.219
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.437	6.917	9.263
	Other Current Liabilities	0.704	0.331	0.205
	Provisions	0.139	0.164	0.259
Total Current Liabilities		4.280	7.412	9.727
Net Current Assets		7.593	7.062	6.492
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		9.790	9.267	7.797

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	17.440	13.819	21.015
		Other Income	NA	0.255	0.198
		TOTAL	NA	14.074	21.213
Less	EXPENSES
		Office Expenses
		Administrative Expenses		13.574	20.481
		Advertising Expenses
		TOTAL	NA	13.574	20.481
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.411	0.500	0.732
Less/ Add	DEPRECIATION/ AMORTISATION		0.016	0.020	0.028
	PROFIT BEFORE TAX		0.395	0.480	0.704
Less	TAX		0.137	0.162	0.257
	PROFIT AFTER TAX		0.258	0.318	0.447
	EXPORT VALUE		1.789	0.391	1.048
	Earnings Per Share (Rs.)		8.59	10.60	14.87

Particulars	31.03.2012
Sales Turnover (Approximately)	30.000

Expected Sales (2012-2013): Rs.35.000 Millions

The above information has been parted by Mr. Rajinder Kumar Jain - Director

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	2.26	2.11
Net Profit Margin (PBT/Sales)	(%)	2.26	3.47	3.35
Return on Total Assets (PBT/Total Assets}	(%)	3.33	3.30	4.32
Return on Investment (ROI) (PBT/Networth)		0.09	0.12	0.19
Debt Equity Ratio (Total Liability/Networth)		2.29	3.15	3.73
Current Ratio (Current Asset/Current Liability)		2.77	1.95	1.67

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	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	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
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	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
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Passport No of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U36991DL1998PTC095274
Name of the company	EDU-TEK EQUIPMENTS INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	162, Vigyan Vihar, New Delhi-110092, Delhi, India Email: ca_pawanchadha@hotmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10199301
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	Karnataka Bank Limited, Savith Vihar Branch, New Delhi-110092, Delhi, India Email: ca_pawanchadha@hotmail.com
Nature of instrument creating charge	Hypothecation Agreement
Date of instrument Creating the charge	31.03.2011
Amount secured by the charge	Rs.3.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest BR+5.50% (Spread) I.E. 15.25% P.A. AT present with monthly rests. Terms of Repayment On demand as per OD rules. Period upto 15 months. Margin 25% on stock and 40% on book debts. Extent and Operation of the charge 100% Others Renewal of OD facility with existing limit of Rs.3.000 Millions. Other term and conditions remains the same.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of stock and book debts considered good and less than 90 days. Em of property bearing no. 63/c situated at street no. 8, guru vihar, taraf gahlewal village, ludhiana belonging to mr. Rajinder singh jain valued at Rs. 2.976 Millions as per v r dated 25.09.2009 By Er Daljit Raheja. (Forced Sale Value: Rs. 2.093 Millions).
Particulars of the present modification	Renewal of od facility with existing limit of Rs.3.000 Millions against hypothecation of stock and book debts. Other term and condition remains the same.

TRADE REFERENCE

· Heliocentris – Germany

· Indian Institute of Technology

FIXED ASSETS

· Computer

· Office Equipment

· Air Conditioner

· Software

· Mobile

· Furniture

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.55.77
UK Pound	1	Rs.86.74
Euro	1	Rs.68.31

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	KVT

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	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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		30

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.