MIRA INFORM REPORT

Report Date :

25.02.2012

IDENTIFICATION DETAILS

Name :	SANKLECHA CONSTRUCTIONS PRIVATE LIMITED
Registered Office :	11, Dehbanu Commercial Complex, Datta Mandir Stop, Nashik-Pune Road, Nashik-422101, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.03.1991
Com. Reg. No.:	11-060627
Capital Investment / Paid-up Capital :	Rs.2.150 Millions
CIN No.: [Company Identification No.]	U65990MH1991PTC060627
TAN No.: [Tax Deduction & Collection Account No.]	NSKS04422F
PAN No.: [Permanent Account No.]	AAGCS0803A
Legal Form :	Private Limited Liability Company
Line of Business :	Construction Activity.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 65000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has been successful in wiping off the accumulated losses of the previous year. 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 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

LOCATIONS

Registered Office :	11, Dehbanu Commercial Complex, Datta Mandir Stop, Nashik-Pune Road, Nashik-422101, Maharashtra, India
Tel. No.:	91-253-2462846/2461966
Fax No.:	91-253-2461966/2501550
E-Mail :	abhiramdugal@yahoo.co.in enquiry@sanklecha.in info@sanklecha.in accounts@sanklecha.in
City Office:	11, City Plaza, Above Rajmal Lakhichand Jewellers, First Floor, Old-Agra Road, Nashik, Maharashtra, India
Tel. No.:	91-253-2501549
Fax No.:	91-253-2501550
Pune Office :	402, Gera Legend, North Main Road, Koregaon Park, Pune-411001, Maharashtra, India
Tel. No.:	91-20-32933366
Fax No.:	info.pune@sanklecha.in

DIRECTORS

As on 30.09.2011

Name :

Mr. Dilip Kachardas Sanklecha

Designation :

Director

Address :

Pitru Mangal, Opposite Durga Udyan, M.G. Road, Nashik Road, Nashik-422101, Maharashtra, India

Date of Birth/Age :

11.04.1958

Date of Appointment :

25.06.2001

Din No.:

00415074

Other Directorship:

S. 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	U65990MH1991PTC060627	SANKLECHA CONSTRUCTIONS PRIVATE LIMITED	Director	25-06-01	25-06-01	Active	NO
2	U01100MH2005PTC152430	SWAYAM AGRO-BIO PRIVATE LIMITED	Director	01-05-09	01-05-09	Active	NO
3	U24299MH2009PLC192576	SOHAM DRUGS AND INTERMEDIATES LIMITED	Director	22-05-09	22-05-09	Active	NO
4	U73100MH2009PLC193109	SOHAM TECHNO-RESEARCH LIMITED	Director	08-06-09	08-06-09	Active	NO
5	U45200MH2009PTC195379	MANGO LIFESTYLE PRIVATE LIMITED	Director	31-08-09	31-08-09	Active	NO

Name :

Mr. Prakash Kachardas Sanklecha

Designation :

Director

Address :

Pitru Mangal, Opposite Durga Udyan, M.G. Road, Nashik Road, Nashik-422101, Maharashtra, India

Date of Birth/Age :

21.07.1961

Date of Appointment :

25.06.2001

Din No.:

00415014

Other Directorship:

S. 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	U65990MH1991PTC060627	SANKLECHA CONSTRUCTIONS PRIVATE LIMITED	Director	25-06-01	25-06-01	Active	NO
2	U91070PN1999PTC138199	BUSINESS VENTURES (NASIK) PRIVATE LIMITED	Director	10-06-06	10-06-06	Active	NO
3	U70200MH2007PTC174738	CORPORATE REALTY PRIVATE LIMITED	Director	05-10-07	05-10-07	Active	NO
4	U45200MH2009PTC195379	MANGO LIFESTYLE PRIVATE LIMITED	Director	31-08-09	31-08-09	Active	NO

Name :

Mr. Tushar Vijay Sanklecha

Designation :

Director

Address :

Pitru Mangal, Opposite Durga Udyan, M.G. Road, Nashik Road, Nashik-422101, Maharashtra, India

Date of Birth/Age :

18.08.1980

Date of Appointment :

07.01.2005

Din No.:

00415006

Other Directorship:

S. 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	U65990MH1991PTC060627	SANKLECHA CONSTRUCTIONS PRIVATE LIMITED	Director	07-01-05	07-01-05	Active	NO
2	U70200MH2007PTC174738	CORPORATE REALTY PRIVATE LIMITED	Director	05-10-07	05-10-07	Active	NO
3	U45202MH2009PTC189806	SPAAK REALTORS PRIVATE LIMITED	Director	17-08-09	17-08-09	Active	NO
4	U45200MH2009PTC195379	MANGO LIFESTYLE PRIVATE LIMITED	Director	31-08-09	31-08-09	Active	NO

Name :

Mr. Punit Ajit Sanklecha

Designation :

Director

Address :

Pitru Mangal, Opposite Durga Udyan, M.G. Road, Nashik Road, Nashik-422101, Maharashtra, India

Date of Birth/Age :

06.06.1981

Date of Appointment :

07.01.2005

Din No.:

00415032

Other Directorship:

S. 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	U65990MH1991PTC060627	SANKLECHA CONSTRUCTIONS PRIVATE LIMITED	Director	07-01-05	07-01-05	Active	NO
2	U45200MH2009PTC195379	MANGO LIFESTYLE PRIVATE LIMITED	Director	31-08-09	31-08-09	Active	NO
3	U70200MH2007PTC174738	CORPORATE REALTY PRIVATE LIMITED	Director	28-01-10	28-01-10	Active	NO

Name :

Mr. Ajit Kachardas Sanklecha

Designation :

Director

Address :

Pitru Mangal, Opposite Durga Udyan, M.G. Road, Nashik Road, Nashik-422101, Maharashtra, India

Date of Birth/Age :

28.09.1955

Date of Appointment :

13.04.2011

Din No.:

00414997

Other Directorship:

S. 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	U70200MH2007PTC174738	CORPORATE REALTY PRIVATE LIMITED	Director	28-01-10	28-01-10	Active	NO
2	U65990MH1991PTC060627	SANKLECHA CONSTRUCTIONS PRIVATE LIMITED	Director	13-04-11	13-04-11	Active	NO

Name :

Mr. Vijay Kachardas Sanklecha

Designation :

Director

Address :

Pitru Mangal, Opposite Durga Udyan, M.G. Road, Nashik Road, Nashik-422101, Maharashtra, India

Date of Birth/Age :

14.06.1954

Date of Appointment :

13.04.2011

Din No.:

00415018

Other Directorship:

S. 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	U91070PN1999PTC138199	BUSINESS VENTURES (NASIK) PRIVATE LIMITED	Director	29-12-99	29-12-99	Active	NO
2	U70102PN2007PTC130577	KAKADE GREEN ESTATES PRIVATE LIMITED	Additional director	18-08-07	18-08-07	Active	NO
3	U65990MH1991PTC060627	SANKLECHA CONSTRUCTIONS PRIVATE LIMITED	Director	13-04-11	13-04-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Ajit Kachardas Sanklecha	50100
Vijay Kachardas Sanklecha	47600
Nirmala Vijay Sanklecha	4400
Ujwala Ajit Sanklecha	1900
Dilip Kachardas Sanklecha	52000
Shushila Kachardas Sanklecha	23000
Sangita Prakash Sanklecha	500
Nirmala Dilip Sanklecha	500
Prakash Kachardas Sanklecha	50000
Total	230000

As on 30.09.2011

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

BUSINESS DETAILS

Line of Business :

Construction Activity.

GENERAL INFORMATION

Bankers :

· State Bank of India, Satpur Industrial Area Branch, Nashik-422007, Maharashtra, India

· HDFC Bank Limited

· Shriram Co-operative Bank

· Business Co-operative Bank

Facilities :

Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
From Directors	7.457	10.661
Total	7.457	10.661

Banking Relations :	--
Auditors :
Name :	Girish Satbhai and Associates Chartered Accountants
Address :	27, Dehbanoo Complex, Nashik-Poona Road, Nashik Road, Nashik-422101, Maharashtra, India
Pan No.:	AAGFG0448J

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

Issued & Subscribed Capital :

No. of Shares	Type	Value	Amount
230000	Equity Shares	Rs.10/- each	Rs.2.300 Millions

Paid-up Capital :

No. of Shares	Type	Value	Amount
210000	Fully Paid-up Equity Shares	Rs.10/- each	Rs.2.100 Millions
20000	Partly Paid-up Equity Shares	Rs.2.50 /- each	Rs.0.050 Million
	Total		Rs.2.150 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		2.150	2.150	2.150
2] Share Application Money		14.075	0.000	0.000
3] Reserves & Surplus		0.242	0.000	0.000
4] (Accumulated Losses)		0.000	(0.811)	(1.023)
NETWORTH		16.467	1.339	1.127
LOAN FUNDS
1] Secured Loans		0.000	0.000	2.553
2] Unsecured Loans		7.457	10.661	8.097
TOTAL BORROWING		7.457	10.661	10.650
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		23.924	12.000	11.777
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.957	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		3.919	3.919	0.474
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.935	10.135	14.185
	Sundry Debtors	0.700	0.850	0.750
	Cash & Bank Balances	0.321	0.479	0.763
	Other Current Assets	21.480	10.461	0.000
	Loans & Advances	0.424	1.513	6.948
Total Current Assets		38.860	23.438	22.646
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	18.450	14.376	14.633
	Other Current Liabilities	0.981	0.981	1.013
	Provisions	0.381	0.000	0.157
Total Current Liabilities		19.812	15.357	15.803
Net Current Assets		19.048	8.081	6.843
MISCELLANEOUS EXPENSES		0.000	0.000	4.460
TOTAL		23.924	12.000	11.777

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income			2.377
		Other Income			NA
		TOTAL	17.525	15.025	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses	16.126	14.735	18.690
		Advertising Expenses
		TOTAL	16.126	14.735	18.690
	PROFIT BEFORE TAX		1.399	0.290	(0.781)
Less	TAX		0.000	1.101	0.000
	PROFIT AFTER TAX		1.399	(0.811)	(0.781)
	Earnings Per Share (Rs.)		6.08	--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	7.98	(5.40)	NA
Net Profit Margin (PBT/Sales)	(%)	NA	NA	(32.86)
Return on Total Assets (PBT/Total Assets}	(%)	3.51	1.23	(3.45)
Return on Investment (ROI) (PBT/Networth)		0.08	0.22	0.69
Debt Equity Ratio (Total Liability/Networth)		1.66	19.43	23.47
Current Ratio (Current Asset/Current Liability)		1.96	1.53	1.43

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The registered office of the company has been shifted from Pitru Mangal, Opposite Durga Udyan, M.G. Road, Nashik Road, Nashik-422101, Maharashtra, India to the present address w.e.f. 06.03.2009.

OPERATIONS:

During the year under consideration, the net profit is Rs.1.399 millions.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U65990MH1991PTC060627
Name of the company	SANKLECHA CONSTRUCTIONS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	11, Dehbanu Commercial Complex, Datta Mandir Stop, Nashik-Pune Road, Nashik-422101, Maharashtra, India
Type of charge	Immovable Property Others
Particular of charge holder	State Bank of India, Satpur Industrial Area Branch, Nashik-422007, Maharashtra, India Email: s.kazi@sbi.co.in
Nature of description of the instrument creating or modifying the charge	Deed of further charge [simple mortgage] dated December 22, 2011
Date of instrument Creating the charge	22.12.2011
Amount secured by the charge	Rs.40.000 Millions
Short particulars of the property charged	Shops and offices at city arcade on Plot No.4 and 5, Survey No. 27-C/1-A-1 and 27-C/1/2, Dasak, Jail Road, Nasik Road, Nasik adm. 2318.48 sq mts given as collateral security for loan to Mango Lifestyle Private Limited

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.49.07
UK Pound	1	Rs.77.19
Euro	1	Rs.65.57

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	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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.