MIRA INFORM REPORT

Report Date :

02.02.2012

IDENTIFICATION DETAILS

Name :	HELLO EXIM PRIVATE LIMITED (w.e.f. 14.03.2011)
Formerly Known As :	SUNIL AND COMPANY PRIVATE LIMITED
Registered Office :	C/o Electro Copper and Alloy Manufacturing Company, 36 Strand Road, 2^nd Floor, Kolkata – 700 001, West Bengal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	06.04.1990
Com. Reg. No.:	21-048794
Capital Investment / Paid-up Capital :	Rs.2.132 Millions
CIN No.: [Company Identification No.]	U36992WB1990PTC048794
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Umbrella.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 8000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments reported to be slow. The company can be considered for business dealings with same cautions.

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. Sanjay Agarwal
Designation :	Assistant Manager
Contact No.:	91-22-22059190
Date :	21.01.2012

LOCATIONS

Registered Office :	C/o Electro Copper and Alloy Manufacturing Company, 36 Strand Road, 2^nd Floor, Kolkata – 700 001, West Bengal, India
Tel. No.:	91-22-22059190
Fax No.:	Not Available
E-Mail :	dinagarwal420@yahoo.com acamahesh@yahoo.com
Area :	Owned
Factory :	6, 1^st Kolbhat X Lane, Sadguru Kadambaba Lane, Kalbadevi, Mumbai – 400 002 Maharashtra, India
Tel. No.:	91-22-22059190 / 22085541
Fax No.:	91-22-22085541

DIRECTORS

As on 30.09.2010

Name :

Mr. Giridhar Das Daga

Designation :

Director

Address :

179, Bangur Park , Rishra, Hooghly-712248, West Bengal, India

Date of Birth/Age :

13.01.1961

Date of Appointment :

06.04.1990

DIN No.:

00336841

Other Directorship :

Sr.No	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U36992WB1990PTC048794	HELLO EXIM PRIVATE LIMITED	Director	6/4/1990	6/4/1990	Active	NO
2	U36992WB2007PTC114029	SUNIL UMBRELLA PRIVATE LIMITED	Director	29/06/2007	29/06/2007	Under Process of Striking off	NO

Name :

Mr. Mohan Daga

Designation :

Director

Address :

78/80, Banganga Road, WalKeshwar, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

12.07.1983

Date of Appointment :

17.08.2002

DIN No.:

00336864

Name :

Mr. Dau Lal Daga

Designation :

Director

Address :

179, Bangur Park , Rishra, Hooghly-712248, West Bengal, India

Date of Appointment :

22.01.2001

DIN No.:

00336885

KEY EXECUTIVES

Name :	Chandak Mundhra and Associates
Designation :	Company Secretaries
Address :	26, Mackenjie, Lane, Dasrath Apartments, Hawrah-711101, West Bengal, India
Tel No.:	91-33-32584127
E-Mail :	cs.kolkata@gmail.com
Name :	Mr. Sanjay Agarwal
Designation :	Assistant Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Giridhar Das Daga	132400
Mohan Daga	6300
Dau Lal Daga	1500
Kiran Chand Mehta	500
Sangita Binani	17500
Sanjay Agarwal	500
Om Lotus Trading Private Limited, India	5000
Chanchal Trading Company Private Limited, India	2500
Rathi Satyana rayan	10
Kamala Devi Daga	10
Krishna Lakhotia	24510
Vallabh Das Daga	20000
Radhika Daga	2500
Total	213230

As on 30.09.2010

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	3.50
Directors or relatives of Directors	96.50
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Umbrella.
Products :	Promotional umbrella Advertising Supe Straight Wooden Umbrella Windproof Fibreglass Umbrella Printed Prom Umbrella Umbrella Printing Mosoon Umbrella Straight Umbrella Adverl
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

GENERAL INFORMATION

Suppliers :

Mahavir Metal Manufacturer

Customers :

Wholesalers and Retailers

• Ibrahim Karim and Sons

No. of Employees :

100 (Approximately)

Bankers :

v HDFC Bank, Kalbadevi Branch Mumbai, Maharashtra India

v The Mogaveera Co-Operative Bank Limited

Facilities :

Secured Loan	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
The Mogaveera Co-Operative Bank limited (Against hypothecation of stock and equitable mortgage of bulling belonging to director and their relative and personal guarantee of these	0.000	12.500
Total	0.000	12.500
Unsecured Loan	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
From Body Corporate	2.532	2.310
From Director	1.810	1.378
From Relatives of Directors	0.516	0.326
Form Others	0.415	0.500
Total	5.273	4.514

Banking Relations :	---
Auditors :
Name :	Mahesh Sonika and Company Chartered Accountants
Address :	157/C, Lenin Sarani, Room No. 308, Deluxe Center, Kolkata – 700013, West Bangal, India
PAN No.:	ACUPA0364M
Associates :	Sunil Umbrella Private Limited Sunil and Company M.R. Associates

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
213230	Equity Shares	Rs.10/- each	Rs.2.132 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		2.132	2.132	2.132
2] Share Application Money		0.252	0.017	0.017
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(0.385)	(0.724)	(0.948)
NETWORTH		1.999	1.425	1.201
LOAN FUNDS
1] Secured Loans		0.000	12.500	16.700
2] Unsecured Loans		5.273	4.514	3.169
TOTAL BORROWING		5.273	17.014	19.869
DEFERRED TAX LIABILITIES		0.000	0.000	0.001
TOTAL		7.272	18.439	21.071
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.256	0.318	0.402
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.222	0.222	0.222
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	19.044	18.238	18.008
	Sundry Debtors	5.361	7.827	8.012
	Cash & Bank Balances	0.088	0.113	0.310
	Other Current Assets	0.002	0.003	0.013
	Loans & Advances	0.644	0.629	1.627
Total Current Assets		25.139	26.810	27.970
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.841	3.549	2.414
	Other Current Liabilities	14.215	5.133	4.916
	Provisions	0.289	0.229	0.201
Total Current Liabilities		18.345	8.911	7.531
Net Current Assets		6.794	17.899	20.439
MISCELLANEOUS EXPENSES		0.000	0.000	0.008
TOTAL		7.272	18.439	21.071

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	22.714	18.201	13.977
		Other Income	0.080	0.005	0.231
		TOTAL	22.794	18.206	14.208
Less	EXPENSES
		Cost of Good Sold or Consumed	22.331	12.605	11.871
		Administrative Selling and Financial Expenses		5.260	2.639
		Preliminary Expenses Written off		0.008	0.008
		TOTAL	22.331	17.873	14.517
Less	PROFIT AND LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.463	0.333	(0.309)
Less/ Add	DEPRECIATION/ AMORTISATION		0.063	0.083	0.109
	PROFIT AND LOSS BEFORE TAX		0.400	0.250	(0.418)
Less	TAX		0.060	0.026	0.014
	PROFIT AND LOSS AFTER TAX		0.340	0.224	(0.432)
Less	Income Tax Adjustment		0.000	0.000	(0.051)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.724)	(0.948)	(0.465)
	BALANCE CARRIED TO THE B/S		(0.384)	(0.724)	(0.948)
	EARNINGS IN FOREIGN CURRENCY
		Export on FOB	0.185	0.000	0.000
		Other Earnings	0.075	0.000	0.000
	TOTAL EARNINGS		0.260	0.000	0.000
	Earnings / Loss Per Share (Rs.)		1.59	1.17	(2.03)

Particulars	31.03.2011
Sales Turnover (Approximately)	50.000

Expected Sales (2011.12): Rs.100.000 Millions

The above information has been parted by Mr. Sanjay Agarwal

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.49	1.23	(2.98)
Net Profit Margin (PBT/Sales)	(%)	1.76	1.37	(2.99)
Return on Total Assets (PBT/Total Assets}	(%)	1.58	0.92	(0.01)
Return on Investment (ROI) (PBT/Networth)		0.20	0.17	(0.34)
Debt Equity Ratio (Total Liability/Networth)		11.81	18.19	22.81
Current Ratio (Current Asset/Current Liability)		1.70	8.91	1.37

LOCAL AGENCY FURTHER INFORMATION

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	--
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%	No
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	--
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	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

FINANCIAL RESULT:

The Profit and Loss Account of the Company shows a Net Profit of Rs.0.339 Million for the year ended 31^st March 2010 after providing depreciation of Rs.0.063 Million. The profit for the current year together with brought forward loss of previous year make a debit balance of Rs.0.385 Million which is carried forward to Balance Sheet.

TRADE REFERENCES:

· Ibrahim Karim and Sons

· Mahavir Metal Manufacturer

FIXED ASSETS:

· Furniture and Fixture

· Electrical Fittings

· Plant and Machinery

· Computer

· Type Writer

· Air Conditioner

· Office Equipments

· Fan

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.49.53
UK Pound	1	Rs.77.95
Euro	1	Rs.64.66

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	-
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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.