MIRA INFORM REPORT

Report Date :

06.01.2012

IDENTIFICATION DETAILS

Name :	SAI COMPUTERS LIMITED [w.e.f. 23.11.2011] SAI ELECTRICALS UNIT OF SAI COMPUTERS LIMITED
Formerly Known As :	SAI COMPUTERS PRIVATE LIMITED
Registered Office :	1-E/2, Jhandewalan Extension, Link Road, Delhi – 110065
Country :	India
Date of Incorporation :	18.07.1984
Com. Reg. No.:	018714
Capital Investment/ Paid-up Capital:	Rs. 28.392 Millions
CIN No.: [Company Identification No.]	U74899DL1984PLC018714
TIN No.:	09878300199
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, exporter and supplier of auto transformers, power distribution transformers, power isolation transformers, electrical transformers, electronic furnace transformers, automatic voltage regulators, electronic voltage regulators, soft starters, soft starter motor, voltage stabilizers, electronic automatic voltage regulators, automatic telecom stabilizers, power factor controls and variable frequency drives. And Providing customized softwares for consumer billing, consumer accounting. Also provide energy audit services, GIS mapping and consumer indexing services that includes CMRI based billing for HV and TVM/TOD/MDI consumers.
No. of Employees:	236 [Approximately]

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 :	--
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The management has not filed the financials of the company with the government departments since its inception. However, trade relations are reported as fair. Business is active. Payments are unknown. 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 – 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. Rishi Raj
Designation :	Chief Executive Officer
Contact No.:	91-121-4024482
Date :	26.12.2011

LOCATIONS

Registered Office :	1-E/2, Jhandewalan Extension, Link Road, Delhi – 110065, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	rishi.raj@saielectricals.com rsjmca@gmail.com
Website :	http://www.saielectricals.com
Network of Sales and Services :	Allahabad, Ambala, Bhilwara, Chandigarh, Delhi, Indore, Bhopal, Jaipur, Kanpur, Kolkata, Lucknow, Ludhiana, Mathura, Mumbai, Muzzafarnagar, Varanasi, Yamunanagar.
Factory :	Sai Dham, Victoria Park, Near Jail Chungi Crossing, Meerut – 250001, Uttar Pradesh, India
Tel. No.:	91-121-4024482 / 4024483 / 2762660 / 2760512 / 2762906 / 4024481 / 4024484 / 2762660
Fax No.:	91-121-2760075
Area :	Owned

DIRECTORS

Name :

Mr. Suresh Pal Singh

Designation :

Director

Address :

341, Ajanta Colony, Meerut, 250001, Uttar Pradesh, India

Date of Appointment :

01.07.1993

DIN No. :

00180567

Name :

Mr. Girish Kumar

Designation :

Director

Address :

H N 16, Victoria Park,, Sai Dham, Meerut, 250001, Uttar Pradesh, India

Date of Appointment :

18.07.1984

DIN No. :

00180597

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	U74899DL1984PLC018714	SAI COMPUTERS LIMITED	Managing director	01-12-2011	18-07-1984	Active	NO
2	U74999DL2009PTC192431	CERVELLO TECHNOLOGIES PRIVATE LIMITED	Director	22-07-2009	22-07-2009	Active	NO

Name :

Mr. Nirmal Kumar Goel

Designation :

Director

Address :

B-2/2 River Bank Colony, Lucknow, 226001, Uttar Pradesh, India

Date of Appointment :

20.10.2003

DIN No. :

00180755

Name :

Mr. Jitendra Vishnu

Designation :

Additional Director

Address :

2-B, Heritage Manor, 195-A, Saket Meerut – 250001, Uttar Pradesh, India

Date of Birth/Age :

14.03.1944

Date of Appointment :

09.12.2011

DIN No. :

05136838

Name :

Mr. Brij Bhushan Jindal

Designation :

Additional Director

Address :

Dhruv Apartments, 16, Chadralol Colony, Aliganj, Lucknow – 226024, Uttar Pradesh, India

Date of Birth/Age :

15.01.1938

Date of Appointment :

09.12.2011

DIN No. :

05141172

Name :

Mr. Abhay Kumar Gupta

Designation :

Additional Director

Address :

167/3, Thapar Nagar, Meerut – 250002, Uttar Pradesh, India

Date of Birth/Age :

25.12.1950

Date of Appointment :

09.12.2011

DIN No. :

00273668

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	U24121UP1978PTC004680	DAYAL FERTILIZERS PRIVATE LIMITED	Managing director	20-10-1978	20-10-1978	Active	NO
2	U74899DL1988PTC032560	DAYAL BIOTECH PRIVATE LIMITED	Director	26-07-1988	26-07-1988	Active	NO
3	U27310UP1959PLC002698	HASTINAPUR SUGAR MILLS LIMITED	Director	23-01-1989	23-01-1989	Active	NO
4	U51311DL1998PTC094653	DAYAL SEEDS PRIVATE LIMITED	Director	24-06-1998	24-06-1998	Active	NO
5	U74899DL1998PLC095466	DAYAL INDUSTRIES LIMITED.	Director	10-08-1998	10-08-1998	Active	NO
6	U74999UP2008PTC035617	DAYAL INFOSYSTEMS PRIVATE LIMITED	Director	03-07-2008	03-07-2008	Active	NO
7	U74899DL1984PLC018714	SAI COMPUTERS LIMITED	Additional director	09-12-2011	09-12-2011	Active	NO

KEY EXECUTIVE

Name :	Mr. Raman Sapra
Designation :	Secretary
Address :	267, Gali No. 18, Pratap Nagar,, Andha Mughal, Delhi, 110007, Delhi, India
Date of Appointment :	21.11.2011

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Not Available

BUSINESS DETAILS

Line of Business :	Manufacturer, exporter and supplier of auto transformers, power distribution transformers, power isolation transformers, electrical transformers, electronic furnace transformers, automatic voltage regulators, electronic voltage regulators, soft starters, soft starter motor, voltage stabilizers, electronic automatic voltage regulators, automatic telecom stabilizers, power factor controls and variable frequency drives. And Providing customized softwares for consumer billing, consumer accounting. Also provide energy audit services, GIS mapping and consumer indexing services that includes CMRI based billing for HV and TVM/TOD/MDI consumers.
Terms :
Selling :	L/C, Cash and Credit [30 days]
Purchasing :	Cash and Credit [30 days]

GENERAL INFORMATION

Customers :	Retailers
No. of Employees :	236 [Approximately]
Bankers :	State Bank of India SME Branch, Ganga Plaza, Meerut, Uttar Pradesh - 250002, India

Banking Relations :

--

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorized Capital : Rs. 9.900 Millions

Equity Capital : Rs. 9.464 Millions

AS ON 30.08.2011

Authorised Capital : Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 28.392 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2011	31.03.2010
Sales Turnover [Approximately]	350.000	300.000

The above information has been parted by Mr. Rishi Raj [CEO].

LOCAL AGENCY FURTHER INFORMATION

TRADE REFERENCES – LOCAL

Software

· HCL Technologies

· Global Netcom E-Serve Technologies

Telecom

· VSNL

· MTNL

· Escotel, Bharti Mobile

Textile

· Bhilwara Suitings

· Rajasthan Spinning and Weaving Mills

· Maharaja Shree Umed Mills

Health and Food

· Parag Dairy

· Hissar Co-op Dairy

· Poly Medicure

Cold Storage

· Bhagatji Cold Storage

· Rajshree Cold Storage

· Ganesh Cold Storage

Steel and Metal

· Bajaj Steel

· Moolchand Steel

· Vaibhav Steels

Cement

· Liberty Cement

· Bhawani Shankar Cement

· Tiger Cement

Plastic

· Tupperware

· Chemiplast

· Rocklite

Engineering

· Telco

· Modi Rubber

· Samsung

Misc

· French Embassy

· UP Jal Nigam

· Hindustan Times

CREDIT LIMIT

Amount in Million

Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address
21/01/2011	4.500	Small Industries Development Bank Of India	C-60, Sector-2, Noida Branch Office, Noida, Uttar Pradesh - 201301, India
10/02/2011 *	3.600	Small Industries Development Bank Of India	C-60, Sector-2, Noida Branch Office, Noida, Uttar Pradesh - 201301, India
15/10/2010 *	0.585	Small Industries Development Bank Of India	C-60, Sector-2, Noida Branch Office, Noida, Uttar Pradesh - 201301, India
01/11/2011 *	216.600	State Bank Of India	SME Branch, Ganga Plaza, Meerut, Uttar Pradesh - 250002, India
09/06/1999	0.500	U.P. Financial corporation	14/88,, Civil Lines, Kanpur, Uttar Pradesh -201 001, India
29/12/2005 *	27.400	State Bank Of India	Meerut Cantt., Meerut, Uttar Pradesh - 250001, India
29/12/2005 *	36.000	State Bank Of India	Meerut Cantt., Meerut, Uttar Pradesh - 250001, India
18/04/1995 *	1.510	U.P. Financial corporation	14/88,, Civil Lines, Kanpur, Uttar Pradesh -201 001, India
19/11/1990	0.371	U.P. Financial Corporation	14/88,, Civil Lines, Kanpur, Uttar Pradesh -201 001, India
28/01/1985	0.966	Uttar Pradesh Financial Corporation	Regional Office, 169/1, Gandhi Nagar, Meerut, Uttar Pradesh - 201001, India

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	----------------------
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	No
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	----------------------
Litigations that the firm / promoter involved in	----------------------
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	----------------------
Buyer visit details	----------------------
Financials, if provided	Yes
Incorporation details, if applicable	----------------------
Last accounts filed at ROC	----------------------
Major Shareholders, if applicable	----------------------

Bankers Charges Report as per Registry

Corporate identity number of the company	U74899DL1984PLC018714
Name of the company	SAI COMPUTERS LIMITED
Address of the registered office or of the principal place of business in India of the company	1-E/2, Jhandewalan Extension, Link Road, New Delhi – 110065, India rsjmca@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80022676
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · PERSONAL GUARANTEE
Particular of charge holder	State Bank Of India SME Branch, Ganga Plaza, Meerut -250002, Uttar Pradesh, India sbi.04183@sbi.co.in
Nature of instrument creating charge	1) Letter Of Arrangement
Date of instrument Creating the charge	01.11.2011
Amount secured by the charge	Rs. 216.600 Millions
Brief of the principal terms an conditions and extent and operation of the charge	(a) Rate of interest WC:-5.25% Margin Above Base Rate, Presently 7.50% P.A.,P.E.R.12.75% P.A. TL:-1.50% Above/Blow SBAR = 12.25%, Minimum 13.75%P.A. OTL:-5.75 % Margin Above Base Rate, Presently 7.50% P.A. P.E.R. 13.25% (b) Terms of repayment WC:-ON DEMAND TL:- in 47 Installments (first 44 Installments of rs. 0.033 Million Per Month And Last One In Installment of Rs. 0.048 Million) (c) Margin RAW MATERIAL: INDIGENOUS:-25% SEMI FINISHED GOODS :-40% FINISHED GOODS :-25% DOMESTIC RECEIVABLES :-25% TERM LOAN :-25% LETTER OF CREDIT :-10% BANK GUARANTEE :- 10(15% ON BGS VALID FOR >18 MONTHS) (d) Extent and operation of the charge 1ST Charge On Company's Property To Secure Following Limits:- (IN Millions) FBWC - (10)* SLC - 15 DDP CHEQUES - (4) EPC - (10) FBP - (2.5) TL(EXISTING) - (6.2) OPEN TL(PROP.) - 5.4 (e) Others Non Fund Based Limit LC - 17 BG - 73 ----------------------- TOTAL 90 ------------------------ #out of this limit Rs. 25 Millions are to be disbursed for take over of out standings of NSIC.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	A.- Security:- Facility : Cash Credit (HYP & BD) Primary : - Charge Over The Current Assets Including hypothecation of stocks & receivables & goods in transit. Facility : NFB Limit (BG & LC) Facility: NFB limit(BG & LC) Primary : - 10% Cash Margin Facility : - Term Loan Primary :- Charge over the fixed assets of unit including land & building at Rali Chauhan meas. 5455.13 sq.MT. Excluding the plant and machinery financed by SIDBI on which SIDBI has first charge. Existing Collateral: E.M. of Immovable Properties:- 1. EM of factory premises measuring 1688 sq. yards at mpl. No. 23, part of property no. 1/16, Sai Dham Victoria Park, meerut in the name of sh. Girish Kumar, leased to the company, 2. EM of six shops with total area of appx. 106.66 sq. yards at Sai Dham, Victoria Park, Meerut in the name of Sh. Girish Kumar 3. EM of lease deed 30.04.2001 measuring 228.60 sq. yards at 1/16, Jail Chungi Victoria Park, Meerut in the name of sh. Girish Kumar 4. Residual value of fixed assets of the unit. Guarantee: - SH. Girish Kumar
Date of instrument modifying the charge	29.09.2010
Particulars of the present modification	Total Limit Remain The Same Modification Has Been Made In Respect Of Extent & Operation Of Charge Being Ist On Properties

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.52.78
UK Pound	1	Rs.82.33
Euro	1	Rs.68.19

SCORE & RATING EXPLANATIONS

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