MIRA INFORM REPORT

Report Date :

11.08.2012

IDENTIFICATION DETAILS

Name :	INTERARCH BUILDING PRODUCTS PRIVATE LIMITED (w.e.f. 09.08.1985)
Formerly Known As :	LUXALON BUILDING PRODUCTS PRIVATE LIMITED
Registered Office :	Farm No.-8, Khasara No. 56/23/2, Dera Mandi Road, Mandi Village, Tehsil Mehrauli, New Delhi – 110047
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	30.11.1983
Com. Reg. No.:	55-017029
Capital Investment / Paid-up Capital :	Rs.75.003 Millions
CIN No.: [Company Identification No.]	U45201DL1983PTC017029
TAN No.: [Tax Deduction & Collection Account No.]	DELI04536A
PAN No.: [Permanent Account No.]	AAACI0106J
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is involved in manufacturing, supply, erection and installation of pre-engineered steel construction solutions, Metal roofing and cladding systems and metal false ceilings
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. It has recorded losses in the last two financial year due to economic downturn in the country and worldwide but also due to increased competition. Accumulated losses recorded by the company appears to be decreasing over years. The network of the company appears to be healthy. Trade relations are reported as decent. Business is active. Payments are reported to be usually correct. The company can be considered normal for 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	A-
Rating Explanation	Adequate degree of safety
Date	24.05.2012

Rating Agency Name	CRISIL
Rating	A2
Rating Explanation	Strong degree of safety
Date	24.05.2012

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ 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.

LOCATIONS

Registered Office :	Farm No.-8, Khasara No. 56/23/2, Dera Mandi Road, Mandi Village, Tehsil Mehrauli, New Delhi – 110047, India
Tel. No.:	91-11-26651573
Fax No.:	Not Available
E-Mail :	arvind.nanda@interarchbuildings.com info@interarchbuildings.com
Website :	http://www.interarchbuildings.com
Central Marketing Office:	B-30, Sector - 57, Noida - 201301, Uttar Pradesh, India
Tel. No.:	91-120 - 4170200 / 2581029 / 2586300
Fax No.:	91-120 - 2581017 / 4170200
E-Mail :	info.marketing@interarchbuildings.com
Factory 1 :	Plot No. 14, Sector- 2, IIE., Pantnagar, Rudrapur - 263143, Uttarakhand, India
Factory 2 :	Plot No. A, Khasra No. 276 - A, 2 KM on Kichha - Rudrapur Road, Kichha - 263 148, District Udham Singh Nagar (Uttarakhand), India
Factory 3 :	Plot No. 29, Udyog Vihar Greater Noida - 201 306, Uttar Pradesh, India
Tel. No.:	91-120-3091563
Fax No.:	91-120-2580793
Regional Office 1 / Factory 4 :	Plot No. D-1/1, SIPCOT Industrial Park, Mambakkam, Sriperembudur - 602 105 Kancheepuram, Tamilnadu, India
Regional Office 2 :	No.704, Koldongri C.H.S. Near Solitaire Hotel Sahar Road, Andheri (East), Mumbai – 400099, Maharashtra, India
Tel. No.:	91-22-42667558
Fax No.:	91-22-426758
Regional Office :	Also Located At · Chandigarh · Ahmedabad · Baroda · Bhopal · Indore · Kolkata · Pune · Hyderabad · Bangalore

DIRECTORS

As on 29.09.2011

Name :

Mr. Arvind Nanda

Designation :

Director

Address :

Farm No.-8, Khasara No. 56/23/2, Dera Mandi Road, Mandi Village, Tehsil Mehrauli, New Delhi – 110047, India

Date of Birth/Age :

16.10.1954

Date of Appointment :

30.11.1983

DIN No.:

00149426

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U45201DL1983PTC017029	INTERARCH BUILDING PRODUCTS PRIVATE LIMITED	Director	30/11/1983	30/11/1983	-	Active	NO
2	U74899DL1984PTC019117	ARIES DEVELOPERS PRIVATE LIMITED	Director	1/2/2005	1/2/2005	-	Active	NO
3	U70102DL2005PTC140966	SIGNU HOMES PRIVATE LIMITED	Director	20/09/2005	20/09/2005	2/2/2010	Active	NO
4	U45201DL2005PTC140967	LIBRA BUILDWELL PRIVATE LIMITED	Director	20/09/2005	20/09/2005	-	Active	NO
5	U74899DL1983PTC016532	TAIPAN ASSOCIATES PRIVATE LIMITED	Director	13/04/2007	13/04/2007	-	Active	NO
6	U74210DL2008PTC174330	DESIGNPLUS ARCHITECTURE PRIVATE LIMITED	Additional director	21/12/2010	21/12/2010	22/08/2011	Active	NO

Name :

Mr. Gautam Suri

Designation :

Director

Address :

F-36 Radhe Mohan Drive Gadaipur Bandh New Delhi-110030, India

Date of Birth/Age :

28.08.1970

Date of Appointment :

30.11.1983

DIN No.:

00149374

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U45201DL1983PTC017029	INTERARCH BUILDING PRODUCTS PRIVATE LIMITED	Director	30/11/1983	30/11/1983	-	Active	NO
2	U74899DL1990PTC039309	IGS HOLDINGS PRIVATE LIMITED	Director	22/02/1990	22/02/1990	-	Active	NO
3	U70101DL2005PTC132353	SIGNU REAL ESTATE PRIVATE LIMITED	Director	24/01/2005	24/01/2005	-	Active	NO
4	U70102DL2005PTC140966	SIGNU HOMES PRIVATE LIMITED	Director	20/09/2005	20/09/2005	-	Active	NO

Name :

Ms. Uma Nanda

Designation :

Director

Address :

5/1, Shanti Niketan, New Delhi-110021, India

Date of Birth/Age :

23.11.1930

Date of Appointment :

05.12.2007

DIN No.:

00149488

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1983PTC016532	TAIPAN ASSOCIATES PRIVATE LIMITED	Director	2/5/1986	2/5/1986	-	Active	NO
2	U45201DL1983PTC017029	INTERARCH BUILDING PRODUCTS PRIVATE LIMITED	Director	5/12/2007	5/12/2007	-	Active	NO

Name :

Mr. Jaspal Singh Sabharwal

Designation :

Nominee Director

Address :

A-Ph- 01, 12th Floor A Block Central Park 1 Sector-42, Guargaon-122002, Haryana, India

Date of Birth/Age :

07.06.1967

Date of Appointment :

05.12.2007

DIN No.:

00899094

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51219MH2003PTC142121	CAPITAL FOODS EXPORTTS PRIVATE LIMITED	Director	31/10/2006	31/10/2006	15/02/2010	Active	NO
2	U18202DL2003PLC121787	LILLIPUT KIDSWEAR LIMITED	Director	25/09/2010	14/11/2006	29/09/2011	Active	NO
3	U45201DL1983PTC017029	INTERARCH BUILDING PRODUCTS PRIVATE LIMITED	Nominee director	5/12/2007	5/12/2007	-	Active	NO
4	U85110AP1998PTC030229	RAVINDRANATH GE MEDICAL ASSOCIATES PRIVATE LIMITED	Nominee director	3/3/2008	3/3/2008	-	Active	NO
5	U55209MH2006PTC161530	PAN INDIA FOOD SOLUTIONS PRIVATE LIMITED	Nominee director	30/09/2009	16/10/2008	-	Active	NO
6	U85110MH2007PLC169493	FUTURE HOSPITALITY MANAGEMENT LIMITED	Additional director	24/12/2009	24/12/2009	3/5/2010	Active	NO
7	U55101DL2004PTC128060	JS HOSPITALITY SERVICES PRIVATE LIMITED	Director	5/12/2011	5/12/2011	-	Active	NO
8	U55204DL2012PTC238108	PIND BALLUCHI HOSPITALITY PRIVATE LIMITED	Director	27/06/2012	27/06/2012	-	Active	NO

Name :

Mr. Ishaan Suri

Designation :

Director

Address :

F-36 Radhe Mohan Drive Gadaipur Bandh New Delhi-110030, India

Date of Birth/Age :

04.08.1981

Date of Appointment :

26.09.2011

DIN No.:

02714298

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1990PTC039309	IGS HOLDINGS PRIVATE LIMITED	Director	12/8/2009	12/8/2009	-	Active	NO
2	U70102DL2005PTC140966	SIGNU HOMES PRIVATE LIMITED	Director	1/2/2010	1/2/2010	-	Active	NO
3	U45201DL1983PTC017029	INTERARCH BUILDING PRODUCTS PRIVATE LIMITED	Director	26/09/2011	26/09/2011	-	Active	NO

Name :

Mr. Atul Kapur

Designation :

Nominee Director

Address :

21 Holland Pk #07-21 Lien Towers, Singapore 249476

Date of Birth/Age :

22.06.1963

Date of Appointment :

11.07.2011

DIN No.:

01778935

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74920MH1982PLC027283	TOPS SECURITY LIMITED	Director	29/12/2007	13/08/2007	21/04/2009	Active	NO
2	U40109TN2006PTC085606	REGEN POWERTECH PRIVATE LIMITED	Nominee director	29/10/2007	29/10/2007	-	Active	NO
3	U74999MH2006PLC165722	FUTURE BRANDS LIMITED	Director	10/9/2008	4/1/2008	14/08/2010	Active	NO
4	U52399MH2007PLC171178	FUTURE E-COMMERCE INFRASTRUCTURE LIMITED	Director	22/11/2008	19/06/2008	-	Active	NO
5	U74300MH2006PLC160375	FUTURE MEDIA (INDIA) LIMITED	Nominee director	18/09/2008	19/06/2008	-	Active	NO
6	U85110AP1998PTC030229	RAVINDRANATH GE MEDICAL ASSOCIATES PRIVATE LIMITED	Nominee director	27/06/2008	27/06/2008	-	Active	NO
7	U72900MH2008PTC182808	TIKONA DIGITAL NETWORKS PRIVATE LIMITED	Director	4/9/2008	6/8/2008	-	Active	NO
8	U92120MH2002PLC135806	PERCEPT LIMITED	Additional director	21/01/2010	21/01/2010	-	Active	NO
9	U51909WB2009PTC136998	INDOSTAR CAPITAL FINANCE PRIVATE LIMITED	Director	23/09/2011	28/04/2011	-	Active	NO
10	U45201DL1983PTC017029	INTERARCH BUILDING PRODUCTS PRIVATE LIMITED	Nominee director	11/7/2011	11/7/2011	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Nidhi Goel
Designation :	Company Secretary
Address :	D-32 Sectro-49 Noida-201301, Uttar Pradesh, India
Date of Birth/Age :	17.11.1979
Date of Appointment :	24.04.2006
Pan No.:	AJZPG0078L
Name :	Mr. Mahesh Verma
Designation :	Senior Vice President Operations
Name :	Mr. Sanjay Modi
Designation :	Senior Vice President Marketing
Name :	Mr. Vikas Kaushal
Designation :	Vice President Marketing
Name :	Mr. Sunil Pulikkal
Designation :	Senior DGM Design

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Gautam Suri	238765
Taipan Associates Private Limited, India	29000
Arvind Nanda	295260
Ishaan Suri	29395
Ishaan Suri / Gautam Suri	600
IGS Holdings Private Limited, India	26250
Uma Nanda	700
Shobhna Suri	30005
K.L. Nanda	55
Indivision Partners, Mauritius	100000
Total	750030

As on 29.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	13.33
Bodies corporate	7.37
Directors or relatives of Directors	79.30
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is involved in manufacturing, supply, erection and installation of pre-engineered steel construction solutions, Metal roofing and cladding systems and metal false ceilings

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Installed Capacity #	Actual Production
Metal Ceilings	MT	5000	1459.78
Metal Roofing/Cladding	MT	12000	8672.32
Steel Structure	MT	18000	30826.60

# The installed capacity mentioned is for Single Shift working.

Licensed Capacity 1½ Not Applicable in terms of Government of India's Notification No. S.O. 477 (E) dated July 25, 1991

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· The Hongkong and Shanghai Banking Corporation Limited, Birla Towers, 25 Barakhamba Road, New Delhi - 110001, India

· Standard Chartered Bank, Credit Documentation Unit, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001, India

· HDFC Bank Limited, 169, Backbay, Reclamation, Churchgate, Mumbai - 400020, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans secured	37.822	38.752
Working capital loans secured	100.000	280.000
Loans taken for vehicles secured	9.854	8.781
Other debt secured	111.098	272.928
Total	258.774	600.461
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Loans directors unsecured	40.709	0.000
Total	40.709	0.000

Banking Relations :	--
Auditors :
Name :	S.R. Batliboi and Associates Chartered Accountants
Address :	Golf View, Corporate Tower B Sec 42 Sector Road , Gurgaon-122002 Haryana, India
PAN No. :	AABFS3421N
Enterprises owned or significantly influenced by key management personnel or their relatives:	· Intertec, Signu Real Estates Private Limited · Taipan Associates · IGS Holdings Private Limited · Gautam Suri and Sons HUF · Aries Developers Private Limited · Signu Homes Private Limited · Omnibus Learning and Education · Suri and Suri · Libra Buildwell Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.100/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
750030	Equity Shares	Rs.10/- each	Rs.75.003 Millions

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		75.003	75.003	75.003
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1558.912	1558.912	1739.668
4] (Accumulated Losses)		(85.147)	(204.987)	0.000
NETWORTH		1548.768	1428.928	1814.671
LOAN FUNDS
1] Secured Loans		258.774	600.461	657.851
2] Unsecured Loans		40.709	0.000	2.500
TOTAL BORROWING		299.483	600.461	660.351
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1848.251	2029.389	2475.022
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		646.624	695.732	627.349
Capital work-in-progress		0.000	0.000	97.876
INVESTMENT		17.984	0.098	37.927
DEFERREX TAX ASSETS		0.000	0.000	24.023
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	818.890	645.081	692.897
	Sundry Debtors	992.791	849.426	1079.055
	Cash & Bank Balances	47.656	57.281	51.835
	Other Current Assets	36.769	125.011	478.379
	Loans & Advances	199.065	292.909	251.912
Total Current Assets		2095.171	1969.708	2554.078
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	383.030	244.423	427.612
	Other Current Liabilities	477.873	340.900	398.935
	Provisions	50.625	50.826	39.684
Total Current Liabilities		911.528	636.149	866.231
Net Current Assets		1183.643	1333.559	1687.847
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1848.251	2029.389	2475.022

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	NA	2207.112	5084.979
		Other Income		55.861	102.385
		TOTAL (A)	NA	2262.973	5187.364
Less	EXPENSES
		Raw Material Consumed	NA	1306.655	3329.039
		Decrease in Inventories	NA	62.479	121.037
		Personnel Expenses	NA	374.009	411.892
		Operating and Other Expenses	NA	722.187	1185.481
		Prior period Expenses	10.641	4.146	32.712
		TOTAL (B)	NA	2469.476	5080.161
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	(206.503)	107.203
Less	FINANCIAL EXPENSES (D)		NA	82.773	79.315
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		201.130	(289.276)	27.888
Less/ Add	DEPRECIATION/ AMORTISATION (F)		73.983	72.099	102.392
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		127.147	(361.375)	(74.504)
Less	TAX (H)		7.306	24.368	4.501
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		119.841	(385.743)	(79.005)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(204.987)	180.756	259.761
	BALANCE / (LOSS) CARRIED TO THE B/S		(85.147)	(204.987)	180.756
	IMPORTS
		Raw Materials	339.121	288.177	760.240
		Capital Goods	0.000	0.060	24.949
	TOTAL IMPORTS		339.121	288.237	785.189
	Earnings / (LOSS) Per Share (Rs.)		(113.52)	(514.30)	(105.34)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	(17.05)	(1.52)
Net Profit Margin (PBT/Sales)	(%)	NA	(16.37)	(1.47)
Return on Total Assets (PBT/Total Assets}	(%)	4.64	(13.56)	(2.34)
Return on Investment (ROI) (PBT/Networth)		0.08	(0.25)	(0.04)
Debt Equity Ratio (Total Liability/Networth)		0.78	0.87	0.84
Current Ratio (Current Asset/Current Liability)		2.30	3.10	2.95

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last two 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	Yes
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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

TURNOVER AND PROFIT:

The company has reported a profit of Rs.127.100 Millions as compared to loss of Rs 361.400 Millions in the previous year.

FUTURE OUTLOOK

In the year 2010-11 they have come out of the woods and some sunshine can be seen after nearly 2 years

For the last two years they have seen a constant fall in Orders and Margins leading to losses for the Company in the last two financial years. The reasons were economic downturn in the Country and Worldwide but also increased competition.

Since the last 8-10 months the situation in the marketplace seems to have improved and investment activity has picked up. Many of their older clients and new companies have started investing into new factories again considering that no new capacities were created in nearly 2 years. India having grown by 7-8 % in the previous two years, many sectors were under pressure to add capacities.

They have managed to secure good orders from many reputed buyers like BHEL, Tata Motors, Delhi Cargo, Asian Paints besides SMCC, Honda, and Panasonic. They have also secured nearly 140 small and medium sized orders in the last 8 months besides the large ones. This is a very good sign as it shows that economic activity across the board is increasing rather than in any one sector or large projects only.

CONTINGENT LIABILITIES AGAINST LITIGATIONS (As on 31.03.2011)

Service Tax

The Company has, during earlier years, received show cause notice from service tax department for payment of the service tax for the abatement availed by the Company for payment of the service tax on transport services without obtaining certificates from Goods Transport Agencies (GTA), stating that they have not availed credit in respect of these services of Rs.11.163 Millions (exclusive of Rs. 11.165 Millions on account of penalty) (previous year Rs. 11.163 Millions). Based on expert analysis, the management believes that there is fair chance of decision in its favour and hence no provision is considered necessary against the same.

Sales tax and Value added tax

Further Company has, during earlier years, received demand of Rs.3.635 Millions (excluding penalty of Rs. 0.588 Million) for payment of sales tax under which the order of assessment/re-assessment is passed. Company has paid Rs 0.588 Million under protest. Based on expert analysis, the management believes that there is fair chance of decision in its favour and hence no provision is considered necessary against the same.

Further, during the year Company has received demand of Rs.14.395 Millions for payment of additional value added tax for not presenting satisfactory documents and explanations related to works contract, required to support the value added tax return filed by the Company. Based on expert analysis, the management believes that there is a fair chance of decision in its favour and hence no provision is considered necessary against the same

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U45201DL1983PTC017029
Name of the company	INTERARCH BUILDING PRODUCTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Farm No.-8, Khasara No. 56/23/2, Dera Mandi Road, Mandi Village, Tehsil Mehrauli, New Delhi – 110047, India arvind.nanda@interarchbuildings.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10015065
Type of charge	Immovable property
Particular of charge holder	Standard Chartered Bank, Credit Documentation Unit, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001, India Ashima.Tandon@sc.com
Nature of instrument creating charge	Declaration and Undertaking Memorandum of entry for re-deposit of title deeds.
Date of instrument Creating the charge	03.07.2012
Amount secured by the charge	Rs.500.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per agreement Terms of Repayment As per agreement Margin As per agreement Extent and Operation of the charge Pari passu charge
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All stock in trade both P/F consisting of raw material, finish good, gip of manufacturer and other merchandise stored or to be stored at bo's premises or godowns and all P/F b/debts, outstg. Moneys, receivables etc. and all present machinery shall be hypothecated. To the bank by way of P/P 1^st charge.
Date of instrument modifying the charge	15.07.2011
Particulars of the present modification	Credit facilities of Rs. 500.000 millions shall adlly. Be secured by first papassu charge over co's imm. Property i.e total land adm. 7.1533 hectare or 17.6758043 acres comprised in Khasra No. 276 ka, Situated at Village Kishanpur, Pargana Rudrapur, Tehsil Kichha, Jila Udham Singh Nagar, Uttarakhand, together with all the buildings and structures constructed or to be constructed thereon fixed plant and machinery and fixtures and fittings erected/installed or to be erected / installed thereon.

FIXED ASSETS

· Free hold land,

· Building

· Plant Machinery

· Computer Equipments

· Furniture Fixtures

· Vehicles

WEBSITE DETAILS

HISTORY

Subject started off as a company which completely changed the face of Indian metal interior products market with its premium quality metal suspended ceilings. Interarch, thereafter, immediately caught hold of a substantial market share and expanded its product range with the introduction of window coverings under the same brand name.

BOARD OF DIRECTORS

Mr. Arvind Nanda, CEO and Founder Director

Arvind Nanda is the CEO and Founder Director of Interarch, a 500-crore, ISO 9001:1994 Company. Arvind has built Interarch, along with his partner from a 2-employee company to a company with over 1400 people; spread across India with manufacturing facilities in Noida, Uttarakhand and Chennai. He exercises strong management skills and has expertise in systems and finance issues. He has been successfully practicing effective employee management abilities for the past 30 years.

Arvind is a product of Modern School, New Delhi and he graduated from Shri Ram College of Commerce. He went on to do his Chartered Accountancy from UK and has worked in UK and India before starting Interarch in 1984.

Mr. Gautam Suri, CTO and Founder Director

Gautam Suri is the Promoter and Founder Director of Subject a 500-crore, ISO 9001:1994 Company, with over 1400 permanent employees. Interarch was launched by him and Arvind in 1984 and today the company has emerged as a pioneering pre-engineered metal building systems manufacturer facilities in Greater Noida (Uttar Pradesh), Pantnagar and Kicha (Uttrakhand) and Chennai. 

With his professional engineering background, Gautam has led Interarchto become a leading service and solution provider in steel construction. The company has grown to become the largest metal building products manufacturer in the country. The companies clients list includes Tata Motors, Reliance Industries, General Motors, Bajaj, Hyundai, Fiat and Honda. 

Apart from spearheading operations at Interarch; Gautam has also been a consulting engineer for the last 35 years and has designed acoustics facilities for over 1200 projects including several prestigious buildings including Vigyan Bhawan, India Habitat Centre, Delhi Vidhan Sabha, Delhi Airport (DIAL), Mumbai Airport (MIAL), PVR and DT Multiplex to name a few.

He is a member of various international and national industry bodies including Acoustical Society of America, Acoustical Society of India, and various Committees of the Bureau of Indian Standards. He has also been a visiting faculty at School of Planning and Architecture, New Delhi, Sushant School of Art and Architecture, Gurgaon and TVB School of Habitat Studies, New Delhi. He has written and presented several papers and seminars in the field of Acoustics, Audio and Noise Control.

Gautam is a Mechanical Engineer from the Indian Institute of Technology, Delhi (1974 batch) and is today, one of the acclaimed acoustic consultants in India.

Mr. Ishaan Suri, Director and Head Corporate Marketing

Ishaan Suri has a varied education background and Heads New Business Development at Interarch. He has done his Bachelors in Business and Economics from the London School of Economics, UK, and has also studied at the University of Rochester, New York. 

He is the second generation of the executive team at Interarch and is mentored by both his father, Gautam and Arvind. 

He has experience in technical sales and solution providing of pre-engineered metal buildings, customer relationship management and overall corporate level marketing, and communication. 

He has been a part of the Interarch team since 2005.

Mr. Jaspal Singh Sabharwal, Director, Representing Indivision India Partners

Jaspal is a Partner in the Operations Team and is responsible for advising on the operations of portfolio companies as well as the operational due diligence for potential investments. Jaspal was previously with Coca-Cola for 10 years where he headed the franchise business for India, Maldives and Bhutan. Prior to this, he spent over 6 years with ICI Paints, with responsibility for East India, Nepal and Bhutan, and the UB Group. He holds a Masters of Management from McGill University and a Diploma in Practicing Management from INSEAD, France

Mr. Atul Kapur, Director, Representing M/s Indivision India Partners

Atul Kapur is Co-Founder and Managing Partner of Everstone Capital, one of India’s premier alternative investment management platforms. Everstone manages assets in excess of $1.6 billion via dedicated private equity and real estate funds, including Indivision. Formerly, Atul spent twelve years at Goldman Sachs where he was Managing Director within the Principal Strategies Group (Goldman Sachs proprietary capital) in Europe. Prior to this. Atul worked for nine years in the Principal Investment Area of Goldman Sachs in Asia and Europe, deploying Goldman Sachs’ Capital Partner’s family of funds. He holds a Bachelor of Commerce from the University of Delhi and is a qualified Chartered Accountant.

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.55.34
UK Pound	1	Rs.86.45
Euro	1	Rs.68.04

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	4
--RESERVES	1~10	7
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

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.