MIRA INFORM REPORT

Report Date :

14.08.2012

IDENTIFICATION DETAILS

Name :	AMPCONTROL EQUIPMENTS PRIVATE LIMITED
Registered Office :	3, Sukrut Sankalp Society, 47/3, Paud Road, Pune-411038, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.09.1995
Com. Reg. No.:	11-092592
Capital Investment / Paid-up Capital :	Rs. 0.900 Million
CIN No.: [Company Identification No.]	U29308MH1995PTC092592
TAN No.: [Tax Deduction & Collection Account No.]	PNEA02780B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Electrical Products
No. of Employees :	18 (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 16000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. 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 – 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 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.

INFORMATION PARTED BY

Name :	Mr. Nandkumar
Designation :	Director
Contact No.:	91-9422016142
Date :	10.08.2012

LOCATIONS

Registered Office :	3, Sukrut Sankalp Society, 47/3, Paud Road, Pune-411038, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9422016142 (Mr. Nandkumar)
Fax No.:	Not Available
E-Mail :	ampcontrol@gmail.com ampcontrol@vsnl.com
Website :	www.ampcontrolequipment.com
Factory :	153/5/1/2, Mhalunge, Chakan-Talegaon Road, Pune-410501, Maharashtra, India
Tel. No.:	91-2135-671400-410
Fax No.:	91-2135-671407

DIRECTORS

AS ON 28.07.2011

Name :	Mr. Nandkumar Achyut Ghate
Designation :	Director
Address :	3, Sukrut Sankalp Society, 47/3, Paud Road, Pune-411038, Maharashtra, India
Date of Birth/Age :	04.03.1953
Date of Appointment :	12.09.1995
Voter ID No.:	DRD3376944
DIN No.:	00477900
Name :	Mr. Shantaram Gorakhnath Bansode
Designation :	Director
Address :	Sector-7, Pi-88A, PCNTDA Dwarka, Vishwa, Indryaningr, FL-N/02, Pune-411026, Maharashtra, India
Date of Birth/Age :	07.06.1957
Date of Appointment :	12.09.1995
Voter ID No.:	HMW6244073
DIN No.:	00477999
Name :	Mr. Ashok Ramkrishna Sane
Designation :	Director
Address :	C-2, Samarth Nagari, Benz Road, P. C. Pradhikaran Sector-3, Plot No.74-B, Bhosari, Pune-411039, Maharashtra, India
Date of Birth/Age :	22.02.1947
Date of Appointment :	12.09.1995
Voter ID No.:	ZSL4307971
DIN No.:	00478129

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.07.2011

Names of Shareholders	No. of Shares
Nandkumar Achyut Ghate	2000
Ashok Ramkrishna Sane	2000
Shantaram Gorakhanath Bansode	2000
Anagha Ashok Sane	1001
Chaya N Ghate	1001
Laxmi Bansode	1001
TOTAL	9003

AS ON 28.07.2011

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Electrical Products
Exports :
Countries :	· Indonesia · Malaysia · Africa · Zambia · Kenya · Ghana · Qatar · Egypt
Terms :
Selling :	Cash, Credit (45 Days)
Purchasing :	Cash, Credit (45 Days)

GENERAL INFORMATION

No. of Employees :

18 (Approximately)

Bankers :

· The Cosmos Co-Operative Bank Limited, 269/270, Shaniwar Peth Pune, Chinchwad Branch, Pune-411030, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
TERM Loans from Cosmos Co-operative Bank Limited, and Others
Term Loan A/c 006600101731	0.261	0.498
Term Loan No.:006751801830	0.218	0.278
For Scorpio Vehicle	0.000	0.000
For Innova Vehicles	0.287	0.851
Loan From LIC	0.976	0.554
Temporary Overdrafts from Banks Against FD Working Capital Facilities from Cosmos	0.940	0.000
Co-operative Bank Limited
Bills Discounting Facility	3.500	2.500
OD Facility – Cosmos Bank	0.000	0.000
The Cosmos Bank A/c Rolls Royce 006600101977	0.103	0.000
Cash Credit Facility	1.538	2.069
TOTAL	7.823	6.750
NOTES: a. The Term Loans availed by the Company, except Vehicle Term Loan from Cosmos Co-operative Bank Limited, are secured by way of charg on all Fixed Assets of the Company. b. Company's Land and the Building thereon at it's Plant at Village Mahalunge, District Chakan has been Mortgaged to the Cosmos Co-operative Bank Limited. c. Working Capital Facilities and Bill Discounting Limits are against Hypothecation of Stocks and Receivable of the Company. d. Hire Purchase Loan and Term Loans, from Cosmos Co-operative Bank Limited, for purchase of Vehicles, are secured by way of Hypothecation of respective Vehicles purchased out of such Loan. e. All the facilities from the Bank are personally Guaranteed by the Directors of the Company. f. Overdraft facility availed by the Company from Cosmos Co-Operative Bank Limited, is secured by way of a charge on Recurring Deposit / Fixed Deposit with the said Bank, by the Company or it's Directors.
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Directors and Relatives	3.960	1.388
TOTAL	3.960	1.388

Banking Relations :	--
Auditors :
Name :	M G Kelkar and Associates Chartered Accountant
Address :	Madhuban B, Karve Nagar, Pune-411052, Maharashtra, India
PAN No.:	ACDPK4840M

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9003	Equity Shares	Rs.100/- each	Rs. 0.900 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		0.900	0.900	0.900
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3.178	2.758	2.674
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.078	3.658	3.574
LOAN FUNDS
1] Secured Loans		7.823	6.750	7.092
2] Unsecured Loans		3.960	1.388	1.388
TOTAL BORROWING		11.783	8.138	8.480
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		15.861	11.796	12.054
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.937	4.119	4.480
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.093	0.094	0.094
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	10.287	7.556	5.698
	Sundry Debtors	13.687	6.118	4.443
	Cash & Bank Balances	2.661	2.285	1.959
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.412	0.857	1.121
Total Current Assets		28.047	16.816	13.221
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	14.207	7.747	3.970
	Other Current Liabilities	2.009	1.486	0.000
	Provisions	0.000	0.000	1.771
Total Current Liabilities		16.216	9.233	5.741
Net Current Assets		11.831	7.583	7.480
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		15.861	11.796	12.054

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	41.735	22.125	NA
		Other Income
		TOTAL	41.735	22.125	NA
Less	EXPENSES
		Office Expenses	41.047	21.419	NA
		Administrative Expenses
		Advertising Expenses
		TOTAL	41.047	21.419	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		[Including	0.706	0.881
			Depreciation ]
Less/ Add	DEPRECIATION/ AMORTISATION			0.595	0.678
	PROFIT BEFORE TAX		0.688	0.111	0.203
Less	TAX		0.250	0.035	0.175
	PROFIT AFTER TAX		0.438	0.076	0.028
	BALANCE CARRIED TO THE B/S		NA	0.076	0.028
	Earnings Per Share (Rs.)		48.65	--	--

Particulars	31.03.2012
Sales Turnover (Approximately)	45.000

Expected Sales (2012-2013) : Rs. 50.000 Millions

The above information has been parted by Mr. Nandkumar.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.05	0.34	NA
Return on Total Assets (PBT/Total Assets}	(%)	2.15	0.53	1.15
Return on Investment (ROI) (PBT/Networth)		0.17	0.03	0.06
Debt Equity Ratio (Total Liability/Networth)		6.87	4.75	3.98
Current Ratio (Current Asset/Current Liability)		1.73	1.82	2.30

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	No
18]	Major customers	No
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]	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	Yes
34]	External Agency Rating, if available	No

FORM 8

Corporate identity number of the company	U29308MH1995PTC092592
Name of the company	AMPCONTROL EQUIPMENTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	3, Sukrut Sankalp Society, 47/3, Paud Road, Pune-411038, Maharashtra
This form is for	Creation of charge
Type of charge	· Immovable property · Movable property (not being pledge)
Particular of charge holder	The Cosmos Co-Operative Bank Limited, 269/270, Shaniwar Peth Pune, Chinchwad Branch, Pune-411030, Maharashtra, India
Nature of instrument creating charge	Deed of Hypothecation of Stock, Book Debts and Machinery Dated 29th September, 2011 Extension of The Equitable Mortgage For Creation of Further Charge Dated 29^th September, 2011 Both Constituting A Single Charge
Date of instrument Creating the charge	29.09.2011
Amount secured by the charge	Rs. 2.100 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Term Loan (Rs. 1.725 millions): Presently 13.50% P. A with EMI Rs. 0.040 million Term Loan (Rs. 0.375 million): Presently 13.50% P. A With EMI Rs.0.009 million Terms of repayment Term Loan (Rs. 1.725 Millions): 60 Months Term Loan (Rs. 0.375 Million): 60 Months Margin Term Loan (Rs. 1.725 Millions): 25% In Banks Favour Term Loan (Rs. 0.375 Million): 25% In Banks Favour Extent and operation of the charge The Charge Shall Continue To Operate Till Full Repayment Of The Facilities Enjoyed By The Company Other Facilities: Term loan limit of Rs. 1.725 Millions for the purpose of purchase of machines Term loan limit of Rs. 0.375 Million for the purpose of construction of shed
Short particulars of the property charged (Including location of the property)	All Borrower's Moveable Machinery, Plant and Equipment With Accessories and Spare Parts At Plot No. 5, Gat No. 153, Mahalunge, Chakan, Taluka- Khed, Pune or At Any Other Place In India Property Situated At Plot No. 5, Gat No. 153 Hissa No. 1/5, Village Mahalunge Tarphe, Chakan, Taluka- Khed, District.- Pune By Way of Equitable Mortgage

FIXED ASSETS

· Land

· Factory Building

· Vehicles

· Plant and Machinery

· Office Equipments

· Furniture and Fixtures

· Electrical Installation

· Measuring Instruments

· Computers

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. 55.41
UK Pound	1	Rs. 86.77
Euro	1	Rs. 68.03

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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.