MIRA INFORM REPORT

Report Date :

02.02.2012

IDENTIFICATION DETAILS

Name :	SCON PROJECTS PRIVATE LIMITED
Registered Office :	Flat No. 1 A, First Floor, Harshal Corner, Survey No. 78/5, Plot No. 5, Bhusari Colony, Kothrud, Pune-411038, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	24.09.2008
Com. Reg. No.:	11-132817
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U45209PN2008PTC132817
TAN No.: [Tax Deduction & Collection Account No.]	PNES25962G
PAN No.: [Permanent Account No.]	AAMCS9980N
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of construction activity.
No. of Employees :	30 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 110000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The company is progressing well. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. 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.

INFORMATION PARTED BY [GENERAL DETAILS]

Name :	Mr. Amit
Designation :	Purchase Assistant
Contact No.:	91-20-25286425
Date :	01.02.2012

LOCATIONS

Registered Office :	Flat No. 1 A, First Floor, Harshal Corner, Survey No. 78/5, Plot No. 5, Bhusari Colony, Kothrud, Pune-411038, Maharashtra, India
Tel. No.:	91-20-25286425
Fax No.:	Not Available
E-Mail :	amityande@samarthconstruction.com info@sconprojects.com mca@mrvcs.in
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Nilesh Shankar Chavan

Designation :

Director

Address :

A 13, Anandvan Near Vrindavan Society, Opposite Guruganesh Nagar, Kothrud, Pune-411038, Maharashtra, India

Date of Birth/Age :

17.12.1974

Date of Appointment :

24.09.2008

Din No.:

01552138

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45209PN2008PTC132817	SCON PROJECTS PRIVATE LIMITED	Director	24-09-08	24-09-08	-	Active	NO
2	U24100MH1994PTC080221	YOG CHEM PRIVATE LIMITED	Director	30-09-10	01-04-10	-	Active	NO
3	U72200PN1999PLC013809	SUPERTECH SOLUTIONS LIMITED	Director	29-09-10	01-07-10	-	Active	NO
4	U74999PN1996PTC098599	ARN CORPORATE CONSULTANTS PRIVATE LIMITED	Director	30-09-10	01-09-10	27-08-11	Active	NO
5	U45200PN2011PTC138775	SCON DEVELOPERS PRIVATE LIMITED	Director	04-03-11	04-03-11	-	Active	NO

Name :

Mrs. Nandini Nilesh Chavan

Designation :

Director

Address :

A 13, Anandvan Near Vrindavan Society, Opposite Guruganesh Nagar, Kothrud, Pune-411038, Maharashtra, India

Date of Birth/Age :

28.05.1973

Date of Appointment :

24.09.2008

Din No.:

01678390

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U45209PN2008PTC132817	SCON PROJECTS PRIVATE LIMITED	Director	24-09-08	24-09-08	-	Active	NO
2	U72200PN1999PLC013809	SUPERTECH SOLUTIONS LIMITED	Director	29-09-10	01-07-10	-	Active	NO
3	U74999PN1996PTC098599	ARN CORPORATE CONSULTANTS PRIVATE LIMITED	Director	30-09-10	01-09-10	27-08-11	Active	NO
4	U45200PN2011PTC138775	SCON DEVELOPERS PRIVATE LIMITED	Director	04-03-11	04-03-11	-	Active	NO
5	U74999PN2011PTC138818	NSQUARE CONSULTANTS PRIVATE LIMITED	Director	08-03-11	08-03-11	-	Active	NO
6	U45200PN2011PTC139841	SHREE SAMARTH PROMOTERS PRIVATE LIMITED	Director	13-06-11	13-06-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Amit
Designation :	Purchase Assistant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Nilesh Shankar Chavan	6000
Nandini Nilesh Chavan	4000
Total	10000

As on 24.12.2011

Names of Shareholders	No. of Shares
Nilesh Shankar Chavan	1125000
Nandini Nilesh Chavan	125000
Total	1250000

As on 30.12.2011

Names of Shareholders	No. of Shares
Nilesh Shankar Chavan	1150000

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of construction activity.
Terms :
Selling :	Credit
Purchasing :	Credit

GENERAL INFORMATION

Customers :

Others [Dealer]

No. of Employees :

30 [Approximately]

Bankers :

· Bank of Baroda, Saraswati Bhavan, S. No. 46/1, Paud Road, Kothrud, Pune-411038, Maharashtra, India

· Shamrao Vithal Co-operative Bank

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Bank Overdraft
IDBI FD OD	4.711	0.000
Shamrao Vithal Co-operative Bank	8.800	0.000
Total	13.511	0.000

Banking Relations :	--
Auditors :
Name :	Ambekar and Associates Chartered Accountants
Address :	Indradhanu S. No. 52, Plot No. 18, Mangaldham Society, Near Eklavya College, Pune-411038, Maharashtra, India
Pan No.:	AAZPA4628F
Associates/Subsidiaries :	· Samarth Construction

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
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

After 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2410000	Equity Shares	Rs.10/- each	Rs.24.100 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		0.100	0.100	0.100
2] Share Application Money		13.791	0.003	0.004
3] Reserves & Surplus		14.355	2.785	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		28.246	2.888	0.104
LOAN FUNDS
1] Secured Loans		13.511	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		13.511	0.000	0.000
DEFERRED TAX LIABILITIES		0.080	0.023	0.000
TOTAL		41.837	2.911	0.104
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.463	2.517	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	22.646	0.750	0.000
	Sundry Debtors	19.932	3.610	0.000
	Cash & Bank Balances	9.699	2.865	0.008
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	30.573	1.282	0.067
Total Current Assets		82.850	8.507	0.075
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	32.280	6.154	0.000
	Other Current Liabilities	7.202	0.752	0.000
	Provisions	7.011	1.230	0.000
Total Current Liabilities		46.493	8.136	0.000
Net Current Assets		36.357	0.371	0.075
MISCELLANEOUS EXPENSES		0.017	0.023	0.029
TOTAL		41.837	2.911	0.104

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	229.845	35.684
Less	EXPENSES
		Office Expenses
		Administrative Expenses	212.436	31.647
		Advertising Expenses
		TOTAL	212.436	31.647
	PROFIT BEFORE TAX		17.409	4.037
Less	TAX		5.838	1.252
	PROFIT AFTER TAX		11.571	2.785
	Earnings Per Share (Rs.)		1157.07	278.48

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.03	7.80	NA
Return on Total Assets (PBT/Total Assets}	(%)	19.71	36.62	NA
Return on Investment (ROI) (PBT/Networth)		0.62	1.40	NA
Debt Equity Ratio (Total Liability/Networth)		2.12	2.82	0.00
Current Ratio (Current Asset/Current Liability)		1.78	1.05	0.00

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)
Sundry Creditors	32.280	6.154	0.000

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 three years	No
12) Profitability for last three years	No
13) Reasons for variation <> 20%	Yes
14) Estimation for coming financial year	No
15) Capital in the business	No
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
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	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	--

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U45209PN2008PTC132817
Name of the company	SCON PROJECTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Flat No. 1 A, First Floor, Harshal Corner, Survey No. 78/5, Plot No. 5, Bhusari Colony, Kothrud, Pune-411038, Maharashtra, India
Type of charge	Book Debts Movable Property [not being pledge] Immovable Property
Particular of charge holder	Bank of Baroda, Saraswati Bhavan, S. No. 46/1, Paud Road, Kothrud, Pune-411038, Maharashtra, India
Email	paudro@bankofbaroda.com
Nature of description of the instrument creating or modifying the charge	Composite hypothecation agreement
Date of instrument Creating the charge	14.10.2011
Amount secured by the charge	Rs.40.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 2.65% above base rate(10.75%), i.e. 13.40% Terms of Repayment Repayable on demand Margin Cash Credit- 25% for stock & 30% for Book debts upto 90 days Bank Guarantee- 25% by way of duly discharged FDR's standing in the name of the company. Extent and Operation of the charge 1. Present and future Stocks, Book debts, movable machineries, equipments, computers, furniture and fixtures of the company. 2. FDR (LDOC-16A) of the company. Others 1. Residential flat no. 13, on 5th Floor, admeasuring 870 Sq. ft (Built up) along with attached terrace admeasuring 210 Sq. ft, and having car parking admeasuring about 100 Sq. ft, built up in A Wing constructed on the building known as "ANANDWAN" situated at S. No. 52, Hissa No. 18+19+15B, Kothrud, Pune, owned by Mr. Nilesh Chavan and Mrs. Nandini Chavan.
Short particulars of the property charged	Flat No.13 on 5th floor A wing Anandwan Situated at S. No. 52, Hissa No. 18+19+15B, Kothrud, Pune, owned by Mr. Nilesh Chavan and Mrs. Nandini Chavan the Directors of Company.

FIXED ASSETS:

· Furniture

· Office Equipments

· Plant and Machinery

· Computer

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	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		45

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.