MIRA INFORM REPORT

Report Date :

21.01.2012

IDENTIFICATION DETAILS

Name :	RAJSHILA SYNTHETICS PRIVATE LIMITED
Registered Office :	Vikas Surya Plaza, Plot No.1, Room No.105, Block – CU, 1^st Floor, LSC Market, Pitampura, Delhi – 110088
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.07.02009
Com. Reg. No.:	55-191897
Capital Investment / Paid-up Capital :	Rs.0.500 Million
CIN No.: [Company Identification No.]	U51909DL2009PTC191897
TAN No.: [Tax Deduction & Collection Account No.]	RTKR06188A
PAN No.: [Permanent Account No.]	AAECR4728D
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in Synthetics Rubber Chemicals, Natural Rubbers, Petroleum Products Chemicals and Related Items.
No. of Employees :	Not Available

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 14000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively new company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small 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

LOCATIONS

Registered Office :	Vikas Surya Plaza, Plot No.1, Room No.105, Block – CU, 1^st Floor, LSC Market, Pitampura, Delhi – 110088, India
Tel. No.:	91-11-27343475/ 42686938
Mobile No.:	91-9871293424 (Mr. Raj Kumar Agarwal) 91-9810015465 (Mr. Amit Agarwal)
Fax No.:	91-11-27343476
E-Mail :	camkrungta@gmail.com
Website :	http://www.rajshilasynthetics.com
Haryana Office :	Badkhalsa District, Sonepat - 131029, Haryana, India

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Amit Agarwal

Designation :

Director

Address :

F-176, Prashant Vihar, New Delhi – 110085, India

Date of Birth/Age :

26.02.1977

Date of Appointment :

06.07.2009

DIN No.:

02597721

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	U51909DL2009PTC191897	RAJSHILA SYNTHETICS PRIVATE LIMITED	Director	6/7/2009	6/7/2009	Active	NO
2	U21000DL2009PTC196296	ALINE PACKAGING PRIVATE LIMITED	Director	23/11/2009	23/11/2009	Active	NO

Name :

Mr. Raj Kumar Agarwal

Designation :

Director

Address :

F-176, Prashant Vihar, New Delhi – 110085, India

Date of Birth/Age :

01.09.1950

Date of Appointment :

06.07.2009

DIN No.:

02597772

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Amit Agarwal	45000
Raj Kumar Agarwal	5000
Total	50000

(AS ON 30.09.2011)Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading in Synthetics Rubber Chemicals, Natural Rubbers, Petroleum Products Chemicals and Related Items.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Overseas Bank of Commerce

· Punjab National Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Car Loan (Captiva)	1.405	0.000
Total	1.405	0.000
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From directors and Their Relatives	13.293	2.500
From Shareholders	29.026	0.000
Total	42.319	2.500

Banking Relations :	--
Auditors :
Name :	M. K. Nagpal and Associates Chartered Accountant
Address :	14, M. C. Market, Subhash Chowk, Sonepat – 131001, Haryana, India
PAN No.:	AAIFM4379E

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
1550000	Equity Share	Rs.10/- each	Rs.15.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- each	Rs.0.500 Million

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- each	Rs.0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.500	0.100
2] Share Application Money		0.301	0.000
3] Reserves & Surplus		2.671	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		3.472	0.100
LOAN FUNDS
1] Secured Loans		1.405	0.000
2] Unsecured Loans		42.319	2.500
TOTAL BORROWING		43.724	2.500
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		47.196	2.600
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.119	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.017	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	73.668	0.000
	Sundry Debtors	119.041	0.000
	Cash & Bank Balances	6.912	2.583
	Other Current Assets	0.000	0.000
	Loans & Advances	34.278	0.000
Total Current Assets		233.899	2.583
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	176.044	0.000
	Other Current Liabilities	11.494	0.031
	Provisions	1.338	0.000
Total Current Liabilities		188.876	0.031
Net Current Assets		45.023	2.552
MISCELLANEOUS EXPENSES		0.037	0.048
TOTAL		47.196	2.600

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		TOTAL	292.159
Less	EXPENSES
		TOTAL	288.168
	PROFIT BEFORE TAX		3.990
Less	TAX		1.320
	PROFIT AFTER TAX		2.670
	Earnings Per Share (Rs.)		53.40

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	0.91	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.69	NA
Return on Investment (ROI) (PBT/Networth)		1.15	NA
Debt Equity Ratio (Total Liability/Networth)		66.99	25.31
Current Ratio (Current Asset/Current Liability)		1.24	83.32

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL POSITION:

The company has made a net profit after tax of Rs.2.671 Millions after providing for provision for tax of Rs.1.338 Millions and creating deferred tax assets of Rs.0.017 Million.

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.50.67
UK Pound	1	Rs.77.72
Euro	1	Rs.64.63

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	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	NO
--AFFILIATION	YES/NO	NO
--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.