MIRA INFORM REPORT

Report Date :

13.01.2012

IDENTIFICATION DETAILS

Name :	HARYANA GLOBAL LIMITED
Registered Office :	A – 5/11, Sector-16, Rohini, New Delhi – 110085, Delhi
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.09.1997
Com. Reg. No.:	55-089540
Capital Investment / Paid-up Capital :	Rs.21.855 millions
CIN No.: [Company Identification No.]	U27320DL1997PLC089540
TAN No.: [Tax Deduction & Collection Account No.]	DELH02598B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Wooden Furniture and Electrical Cables Wires, Building Hardware Products.
No. of Employees :	50 (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 480000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There appears some losses incurred by the company in the current year. However, networth appears to be satisfactory. 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.

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. B. K. Gupta
Designation :	Director
Contact No.:	91-9818577977

LOCATIONS

Registered Office :	A – 5/11, Sector-16, Rohini, New Delhi – 110085, Delhi, India
Mobile No.:	91-9818577477 (Mr. B. K. Gupta)
E-Mail :	hglinpex@airtelmail.in tarunakalra@srsparivar.com
Area :	2500 Sq. ft. (Approximately)
Location :	Owned
Factory :	Plot No.5B, Northern India Campus, 20/3, Matura Road, Faridabad – 121005, Haryana, India
Tel. No.:	91-129-4063222/ 4063444
Fax No.:	91-129-4060333

DIRECTORS

(AS ON 27.09.2011)

Name :

Mr. Narendra Kumar Gupta

Designation :

Whole-time Director

Address :

H. No. 17, Sector-16, Faridabad – 121001, Haryana, India

Date of Birth/Age :

28.06.1958

Date of Appointment :

09.09.1997

DIN No.:

00242965

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	U27320DL1997PLC089540	HARYANA GLOBAL LIMITED	Whole-time director	9/9/1997	9/9/1997	Active	NO
2	U24222DL1999PTC098067	HARYANA COATING PRIVATE LIMITED	Director	21/06/1999	21/06/1999	Active	NO
3	U74899DL1995PTC074073	AGRAJ MARKETING PRIVATE LIMITED	Director	12/12/2003	12/12/2003	Active	NO

Name :

Mr. Brijesh Kumar Gupta

Designation :

Director

Address :

H. No. 74, Housing Board Colony, Sector-23, Faridabad – 121001, Haryana, India

Date of Birth/Age :

03.10.1958

Date of Appointment :

01.06.2005

DIN No.:

00242866

Name :

Mr. Hanuman Parshad Aggarwal

Designation :

Whole-time Director

Address :

H. No. 1106, Sector-9, Faridabad – 121001, Haryana, India

Date of Birth/Age :

03.05.1958

Date of Appointment :

09.09.1997

DIN No.:

00243237

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	U27320DL1997PLC089540	HARYANA GLOBAL LIMITED	Whole-time director	9/9/1997	9/9/1997	Active	NO
2	U24222DL1999PTC098067	HARYANA COATING PRIVATE LIMITED	Director	21/06/1999	21/06/1999	Active	NO
3	U74899DL1995PTC074073	AGRAJ MARKETING PRIVATE LIMITED	Director	12/12/2003	12/12/2003	Active	NO

Name :

Mrs. Meena N. Gupta

Designation :

Director

Address :

H. No. 17, Sector-16, Faridabad – 121001, Haryana, India

Date of Birth/Age :

31.10.1965

Date of Appointment :

07.10.1997

DIN No.:

00242680

Name :

Mrs. Sheela H. Aggarwal

Designation :

Director

Address :

H. No. 1106, Sector-9, Faridabad – 121001, Haryana, India

Date of Birth/Age :

24.10.1965

Date of Appointment :

07.10.1997

DIN No.:

00046496

Name :

Mr. Gourav Aggarwal

Designation :

Director

Address :

H. No. 1106, Sector-9, Faridabad – 121001, Haryana, India

Date of Birth/Age :

13.04.1984

Date of Appointment :

27.06.2006

DIN No.:

00424366

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	U74899DL1995PTC074073	AGRAJ MARKETING PRIVATE LIMITED	Director	27/06/2006	27/06/2006	Active	NO
2	U24222DL1999PTC098067	HARYANA COATING PRIVATE LIMITED	Director	27/06/2006	27/06/2006	Active	NO
3	U27320DL1997PLC089540	HARYANA GLOBAL LIMITED	Director	27/06/2006	27/06/2006	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 27.09.2011)

Names of Shareholders	No. of Shares
N.K. Gupta	257310
H.P.Agarwal	170530
P.L. Agarwal	10
Sheela Agarwal	83840
Santosh Aggarwal	10
Meena Gupta	58640
H. P. Aggarwal (HUF)	611710
Gaurav Aggarwal	98690
Khishboo Aggarwal	9370
Anita Bansal	28240
Dinesh Bansal	29100
R.K. Aggarwal	19800
Saurabh Aggarwal	6000
Narendra Kumar	28500
N. K.Gupta HUF	576310
P.L. Agarwal HUF	37000
Asha Devi	6000
Pawan Kumar	12700
Rachna Goyal	3590
Vinod Goyal	3120
Deesha Tieup Private Limited, India	25000
Kokila Exports Private Limited, India	15000
Madsan Agencies Private Limited, India	15000
Motorex Finance Private Limited, India	15000
Midnight Agencies Private Limited, India	15000
J V Trading Private Limited, India	2500
Mahagun Sales Trader, Shakarpur	2500
Mahalaxmi Realmart Private Limited, India	8750
Manvi Trading Private Limited, India	5000
Milap Automotive Private Limited, India	4125
My Trading Overseas Private Limited, India	2500
Nipun Infortech Private Limited, India	8750
Rapchick Foods Private Limited, India	9000
RLS Holiday Resort Private Limited, India	3750
Sharda India Private Limited, India	5000
Sunit Infoways Private Limited, India	5000
Sunit Resorts Private Limited, India	3125
Total	2185470

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Bodies corporate	6.63
Directors or relatives of Directors	89.53
Other top fifty shareholders	3.84
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Wooden Furniture and Electrical Cables Wires, Building Hardware Products.

GENERAL INFORMATION

No. of Employees :

50 (Approximately)

Bankers :

Ø State Bank of Hyderabad,

27, Neelam Bata Road, Nit Faridabad, Faridabad – 121001, Haryana, India

Ø HDFC Bank

Ø ICICI Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
State Bank of Hyderabad PCL*	6.205	0.012
HDFC Bank (Secured by hypothecation of car)	0.000	0.118
Citi Corp Maruti Finance Limited (Secured by hypothecation of car)	0.000	0.024
Tata Capital Limited	0.685	1.196
State Bank of Hyderabad	0.000	5.826
Total	6.890	7.176

Banking Relations :	--
Auditors :
Name :	Khem Shiv and Associates Chartered Accountant
Address :	103, Adarsh Nagar, Ballabgarh, Faridabad – 121004, Haryana, India
PAN No. :	AFTPG8348H

CAPITAL STRUCTURE

(AS ON 27.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
2200000	Equity Shares	Rs.10/-each	Rs.22.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2185470	Equity Shares	Rs.10/-each	Rs.21.855 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		21.855	21.255	20.405
2] Share Application Money		1.470	0.555	2.210
3] Reserves & Surplus		97.393	76.140	60.872
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		120.718	97.950	83.487
LOAN FUNDS
1] Secured Loans		6.890	7.176	6.942
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		6.890	7.176	6.942
DEFERRED TAX LIABILITIES		1.832	0.488	0.232
TOTAL		129.440	105.614	90.661
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		35.012	30.436	17.326
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	30.000	30.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	54.683	24.607	10.046
	Sundry Debtors	37.455	42.935	32.361
	Cash & Bank Balances	7.040	0.487	8.221
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	24.243	34.233	32.329
Total Current Assets		123.421	102.262	82.957
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	26.434	52.157	38.107
	Other Current Liabilities	1.332	1.007	0.791
	Provisions	1.227	3.920	0.724
Total Current Liabilities		28.993	57.084	39.622
Net Current Assets		94.428	45.178	43.335
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		129.440	105.614	90.661

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	218.177	209.098	261.107
		Other Income	1.674	14.195	1.569
		TOTAL (A)	219.851	223.293	262.676
Less	EXPENSES
		Cost of Material Consumed	170.064	174.700	223.250
		Direct Expenses	28.438	11.221	9.673
		Personnel Expenses	7.334	5.324	4.961
		Office and Administrative Expenses	3.089	4.189	6.005
		Selling and Distribution Expenses	1.838	11.189	10.810
		Other Expenses	3.691	0.228	0.212
		TOTAL (B)	214.454	206.851	254.911
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5.397	16.442	7.765
Less	FINANCIAL EXPENSES (D)		1.500	1.142	2.036
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.896	15.300	5.729
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.473	3.195	3.195
	PROFIT BEFORE TAX (E-F) (G)		0.424	12.105	2.534
Less	TAX (H)		2.571	3.663	0.628
	PROFIT AFTER TAX (G-H) (I)		(2.147)	8.442	1.906
	EARNINGS IN FOREIGN CURRENCY		198.246	192.140	252.838
	Earnings Per Share (Rs.)		(0.98)	--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(0.98)	3.78	0.73
Net Profit Margin (PBT/Sales)	(%)	0.19	5.79	0.97
Return on Total Assets (PBT/Total Assets}	(%)	0.27	9.12	2.53
Return on Investment (ROI) (PBT/Networth)		0.00	0.12	0.03
Debt Equity Ratio (Total Liability/Networth)		0.30	0.66	0.56
Current Ratio (Current Asset/Current Liability)		4.26	1.79	2.09

LOCAL AGENCY FURTHER INFORMATION

OPERATING RESULTS:

During the year the Company registered a total Loss of Rs.2.147 millions.

SHARE CAPITAL

During the year, the paid up Equity shares capital of the company increased from Rs.21.255 Millions asd on 31^st March 2010 to Rs.21.855 Millions as on 31sr March 2011 by allotment of 60,000 additional fully paid up equity shares of Rs.10/- each at premium of Rs.390/- each on 28^th February, 2011.

FORM 8:

Corporate identity number of the company	U27320DL1997PLC089540
Name of the company	HARYANA GLOBAL LIMITED
Address of the registered office or of the principal place of business in India of the company	A-5/11, Sector-16, Rohini, Delhi, India tarunakalra@srsparivar.com
This form is for	Creation of charge
Type of charge	Ø Immovable Property Ø Book Debts Ø Movable Property Ø Others : First Charge on Current and Fixed Assets
Particular of charge holder	State Bank of Hyderabad, 27, Neelam Bata Road, Nit Faridabad, Faridabad – 121001, Haryana, India Email : faridabad@sbhyd.co.in
Nature of description of the instrument creating or modifying the charge	H. No. 1925 SME-1 - Letter of Arrangement dated 13.04.2011 H. No. 1927 SME-2 - Agreement of Loan-Cum Hypothecation dated 13.04.2011
Date of instrument Creating the charge	13.04.2011
Amount secured by the charge	Rs.45.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest – Interest at 4.50% above the base rate with a minimum of 13.50% p.a. rising or falling therewith, on daily products with monthly rests. Terms of Repayment – On Demand Margin – 1. Raw Material :Imported - 25% 2. Raw Material: Indigenous - 25% 3. Semi-finished goods - 25% 4. Finished Goods - 25% Extent and Operation of the charge – The charge for Fund Based OD Limit under Mortgage Loan Scheme of Rs. 45.000 Millions.
Short particulars of the property charged	Primary Security: First Charge by way of Hypothecation on Current Assets i.e. Raw-Material, Finished Goods, Stock in process, Consumable stores/spares, receivables, book-debts etc. of the Company Collateral Security: 1. Extension of equitable mortgage of industrial property bearing Plot No. 5B, admeasuring 1452.00 sq. yds situated at Sector-5, Northern India Campus, 20/3 Mathura Road, Faridabad standing in the name of Haryana Coating Private Limited 2. Equitable Mortgage of Industrial property bearing plot no. 5A at Northern India Complex, Sector-5, Mathura Road, Faridabad measuring 2000 sq. yds standing in the name of Haryana Global Limited through its director Mr. Gourav Aggarwal S/o Mr. H.P. Aggarwal 3. First Charge on the Fixed assets of the company including plant and machinery. Corporate Guarantee of Haryana Coating Private Limited Personal Guarantee of: 1. Mr. Narender Kumar Gupta 2. Mr. Hanuman Prasad Agarwal 3. Mr. Goural Aggarwal 4. Mr. B.K. Gupta 5. Mrs. Meena Gupta 6. Mr. Satish Gupta 7. Mrs. Sheela Aggarwal

FIXED ASSETS:

Ø A.C.

Ø Building

Ø Car

Ø Computer

Ø Cellular Phone

Ø Electrical Installation

Ø Furniture

Ø Generator

Ø Motor Cycle and Tempo

Ø Machinery

Ø Scooter

Ø Tools and Dies

Ø Water Cooler

Ø Fax

Ø Office Equipment

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.51.83
UK Pound	1	Rs.79.42
Euro	1	Rs.65.90

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--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.