MIRA INFORM REPORT

Report Date :

21.08.2012

IDENTIFICATION DETAILS

Name :	VIVIDH HI-FAB PRIVATE LIMITED
Registered Office :	987/10-C, GIDC, Makarpura, Baroda-390010, Gujarat
Country :	India
Date of Incorporation :	04.10.2011
Com. Reg. No.:	04-067342
Capital Investment / Paid-up Capital :	Rs. 10.000 Millions
CIN No.: [Company Identification No.]	U31900GJ2011PTC067342
TAN No.: [Tax Deduction & Collection Account No.]	BRDV01780C
PAN No.: [Permanent Account No.]	AADCV8078P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Engineering Fabrications and Job Work
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	As conformed with Mr. Kaushik subject is a successor of Vividh Hi-Feb, a partnership concern started in the year 1983. It got converted in to private limited in the year 2011. Trade relations are reported as 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. Kaushik Shah
Designation :	Accounts Manager
Contact No.:	91-9898908131
Date :	20.08.2012

LOCATIONS

Registered Office / Factory :	987/10-C, GIDC, Makarpura, Baroda-390010, Gujarat, India
Tel. No.:	91-265-2641101 / 02
Mobile No.:	91-9898908131 (Mr. Kaushik)
Fax No.:	91-265-2638053
E-Mail :	contact@vividh.co.in chirag.ca@gmail.com
Website :	www.vividh.co.in
Area :	10000 Sq. Ft.
Location :	Owned

DIRECTORS

Name :	Mr. Rajendra Vijendra Sharma
Designation :	Director
Address :	Village-Bamantukra, P O Siyana, Rajsamand-313334, Rajasthan, India
Date of Birth/Age :	01.11.1964
Date of Appointment :	04.10.2011
Voter ID No.:	FCV7779689
DIN No.:	00708319

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	U29309GJ1991PTC015305	VIVIDH APPLIANCES PRIVATE LIMITED	Director	26/03/1991	26/03/1991	-	Strike off	NO
2	U14101RJ1993PTC007772	VIVIDH MARBLES PRIVATE LIMITED	Managing director	28/10/1993	28/10/1993	03/07/2010	Active	NO
3	U51909GJ1995PTC025577	VIVIDH ENTERPRISE PRIVATE LIMITED	Additional director	27/11/2010	27/11/2010	-	Active	NO
4	U31900GJ2011PTC067342	VIVIDH HI-FAB PRIVATE LIMITED	Director	04/10/2011	04/10/2011	-	Active	NO

Name :	Mr. Jayendra Vijendra Sharma
Designation :	Director
Address :	43/B, Rambaug Society, Makarpura Road, Vadodara-390010, Gujarat, India
Date of Birth/Age :	08.10.1962
Date of Appointment :	04.10.2011
DIN No.:	01662693

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	Company/ LLP Status	Defaulting status
1	U29309GJ1991PTC015305	VIVIDH APPLIANCES PRIVATE LIMITED	Director	26/03/1991	26/03/1991	Strike off	NO
2	U51909GJ1995PTC025577	VIVIDH ENTERPRISE PRIVATE LIMITED	Director	24/04/1995	24/04/1995	Active	NO
3	U31900GJ2011PTC067342	VIVIDH HI-FAB PRIVATE LIMITED	Director	04/10/2011	04/10/2011	Active	NO

Name :	Mr. Mahendra Vijendra Sharma
Designation :	Director
Address :	43/B, Rambaug Society, Makarpura Road, Vadodara-390010, Gujarat, India
Date of Birth/Age :	16.10.1960
Date of Appointment :	04.10.2011
Voter ID No.:	FCV7779648
DIN No.:	00400998

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	U14101RJ1993PTC007772	VIVIDH MARBLES PRIVATE LIMITED	Director	28/10/1993	28/10/1993	03/07/2010	Active	NO
2	U31900GJ2011PTC067342	VIVIDH HI-FAB PRIVATE LIMITED	Director	04/10/2011	04/10/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Kaushik Shah
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 03.10.2011

Names of Shareholders	No. of Shares
Mahendra Vijendra Sharma	3332
Jayendra Vijendra Sharma	3332
Rajendra Vijendra Sharma	3332
Ekta Sharma	1
Kuldeep Sharma	1
Devendra Sharma	1
Kaushalya Sharma	1
TOTAL	10000

AS ON 27.03.2012

Names of Allotment	No. of Shares
Mahendra Vijendra Sharma	450000
Jayendra Vijendra Sharma	450000
Rajendra Vijendra Sharma	90000
TOTAL	990000

AS ON 03.10.2011

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 Engineering Fabrication and Job Work
Exports :
Products :	· Engineering Fabrication
Countries :	· Thailand
Imports :
Products :	· Raw Material
Countries :	· China
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Customers :	End Users • Centre for Advanced Technology • Department of Atomic Energy • Defence • Dodsal Private Limited • Engineers India Limited • Gujarat State Fertilizers Corporation • Heavy Water Plants • Indian Space Research organization (ISRO) • Indira Gandhi Centre for Atomic Research • Institute of Plasma Research • Larsen and Toubro Limited • Nicco Corporation Limited • Nuclear Power Corporation of India • ONGC • Reliance Refinery • Thermax Limited • Torrent Pharmaceuticals Limited • Tyco Valves India Limited • Walchandnagar Industries Limited • Western Railway • Bhavini
No. of Employees :	200 (Approximately)
Bankers :	· Indian Overseas Bank, Dandia Bazar Branch, Dandia Bazar, Vadodara-390001, Gujarat, India

Banking Relations :	--
Auditors :
Name :	Shah and Kadam Chartered Accountant
Address :	Baroda, Gujarat, India

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	184.000	178.000

Expected Sales (2012-2013) : Rs. 250.000 Millions

The above information has been parted by Mr. Kaushik Shah.

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	Yes
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 two years	Yes
12]	Profitability for last three years	No
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	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	No
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	No
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	U31900GJ2011PTC067342
Name of the company	VIVIDH HI-FAB PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	987/10-C, GIDC, Makarpura, Baroda-390010, Gujarat, India
This form is for	Modification of charge
Charge identification number of the charge to be modified	10351769
Type of charge	· Book debts · Movable property (not being pledge)
Particular of charge holder	Indian Overseas Bank, Dandia Bazar Branch, Dandia Bazar, Vadodara-390001, Gujarat, India
Nature of instrument creating charge	Letter of Hypothecation
Date of instrument Creating the charge	07.03.2012
Amount secured by the charge	Rs. 198.600 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest 1) Cash Credit -13.25% p.a. with monthly rests 2) Term Loan I - 13.50% 3) Term Loan II - 13.50% 4) Letter of Credit -Commission 5) Letter of Guarantee - Commission. Terms of repayment Repayable on Demand Margin 1) Cash Credit - Stocks 25% and Debtors 25% 2) Term Loan I - 25% on Machinery 3) Term Loan II - 25% on Machinery 4) Letter of Credit - DP - LCs-25%, DP-LCs-15% at the time of opening of LC and 105 at the time of acceptance 5) Letter of Guarantee - 15%, Financial: 25%. Extent and operation of the charge First Charge on Movable assets of the Company.
Short particulars of the property charged (Including location of the property)	All present and future stocks, raw materials, semi finished goods, finished goods, work in process, spares, book debts, receivables machinery and other movable assets.
Particulars of the present modification	Existing charge of Rs. 150.700 Millions has been enhanced to Rs. 198.600 Millions to cover the additional finance facilities of Rs. 47.900 Millions. The break up Rs. 198.600 Millions is Cash Credit of Rs. 75.000 Millions, Letter of Credit of Rs. 45.000 Millions, Letter of Guarantee of Rs. 75.000 Millions, Term Loan I of Rs. 2.300 Millions and Term Loan II of Rs. 1.300 Millions.

WEBSITE DETAILS

PROFILE

Subject is an engineering unit established in 1983. Subject manufactures and supplies heavy and critical equipment and other allied products to various organizations in different fields. The high quality and precision products of the company have helped to cater to prestigious customers like Atomic Energy and Nuclear Power Plants, Indian Space Research Organization, Railways, Petroleum, Petrochemicals, Chemicals, etc. Over the years, the Company has significantly enhanced the production capacity by using sophisticated machinery and latest technology. The company believes in total customer satisfaction by providing superior quality products at reasonable prices. Each and every product manufactured passes stringent quality control tests and procedures. The Company consistently strives to improve upon quality of it's products by utilising the most modern technology available and imparting training to the work force to upgrade their skills.

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. 55.70
UK Pound	1	Rs. 87.54
Euro	1	Rs. 68.85

INFORMATION DETAILS

Information Gathered by :	SVA
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	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	NO
--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		27

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.