MIRA INFORM REPORT

Report Date :

05.07.2012

IDENTIFICATION DETAILS

Name :	SANSUI ELECTRONICS PRIVATE LIMITED
Registered Office :	Plot No. E-59, Behind Krishi Panan Mandal, Market Yard, Pune – 411037, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.10.1990
Com. Reg. No.:	25-58474
Capital Investment / Paid-up Capital :	Rs.0.600 Million
CIN No.: [Company Identification No.]	U29196MH1990PTC058474
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of various kinds of Weighing Scales and Weighing Systems.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 350000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. The company has acquired a huge base of clients in many countries. Trade relations are reported as trustworthy. 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 term 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 (GENERAL DETAILS)

Name :	Mr. Sebastian
Designation :	Sales Coordinator
Contact No.:	91-9823197051
Date :	29.06.2012

LOCATIONS

Registered Office Factory 1:	Plot No. E – 59, Behind Krishi Panan Mandal, Market Yard, Gultekdi, Pune-411037, Maharashtra, India
Tel. No.:	91-20-24206000
Mobile No.:	91-9823197051 (Mr. Sebastian)
Fax No.:	91-20-24206060
E-Mail :	sebastian@weighridge.us girish_burande@rediffmail.com
Website :	http://www.weighbridge.co.in
Warehouse / Showroom :	Phursungi, Maharashtra, India
Factory 2 :	Undri, Pune, Maharashtra, India

DIRECTORS

As on 31.03.2011

Name :

Mr. Sanjay Mohanlal Bafna

Designation :

Whole Time Director

Address :

106, City Park, Market Yard, Pune – 411 037, Maharashtra, India

Date of Birth/Age :

26.09.1965

Date of Appointment :

01.04.2005

DIN No.:

01804203

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U29196MH1990PTC058474	SANSUI ELECTRONICS PRIVATE LIMITED,	Whole-time director	1/04/2005	1/04/2005	-	Active	NO
2	U70102PN2006PTC128590	AUTUMN REALTY INDIA PRIVATE LIMITED	Director	23/11/2007	23/11/2007	-	Active	NO
3	U24233PN2006PTC129093	BLUE BILLION TOWNSHIP DEVELOPMENT PRIVATE LIMITED	Director	20/07/2008	20/07/2008	-	Active	NO

Name :

Mr. Sunil Bankatlal Desadla

Designation :

Whole Time Director

Address :

44, Guruprasad, Bund Garden Road, Pune – 411 001, Maharashtra, India

Date of Birth/Age :

19.11.1966

Date of Appointment :

09.10.1990

DIN No.:

01804230

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U29196MH1990PTC058474	SANSUI ELECTRONICS PRIVATE LIMITED	Whole-time director	9/10/1990	9/10/1990	-	Active	NO
2	U70102PN2006PTC128590	AUTUMN REALTY INDIA PRIVATE LIMITED	Director	23/11/2007	23/11/2007	-	Active	NO
3	U24233PN2006PTC129093	BLUE BILLION TOWNSHIP DEVELOPMENT PRIVATE LIMITED	Director	20/07/2008	20/07/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sebastian
Designation :	Sales Coordinator

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2011

Names of Shareholders	No. of Shares
Sanjay Mohanlal Bafna	2700
Sunil Bankatlal Desadla	2340
Bankatlal Rajmal Desadla	330
Kavita Sunil Desadla	330
Sandeepa Sanjay Bafna	300
Total	6000

Equity Share Break up (Percentage of Total Equity)

As on 31.03.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of various kinds of Weighing Scales and Weighing Systems.
Product:	· Electronics weighing scales · Table Top Scale · Platform Scales · High Precision Scales · Heavy Duty Scales · Weighbridges · Crane Scales · Jewellary Scales · Milk Weighers · Shink / Vibra Balances · Taximeters · Rickshw Merers
Exports :
Products :	· Weighing Scales · Weighing Systems
Countries :	· Africa · Europe
Imports :
Products :	Raw Material
Countries :	· China · Japan
Terms :
Selling :	Cash / DD/Cheque/T.T
Purchasing :	Credit (30 Days)

GENERAL INFORMATION

Customers :

Industries

No. of Employees :

200 (Approximately)

Bankers :

· State Bank of India, Deccan Gymkhana Branch, Pune-411004, Maharashtra, India

· Citi Bank N. A., Kumar Capital, 2413 East Street, 2413 East Street, Camp, Pune-411001, Maharashtra, India

· State Bank of Patiala, Shiv Nagar, Jail Raod, Delhi – 110058, India

Facilities :

(Rs. in Millions)

Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Unsecured Loan	15.798	14.088
Total	15.798	14.088

Banking Relations :	--
Auditors :
Name :	Vakharia S. K. and Associates Chartered Accountant s
Address :	28, 2^nd Floor, Santosh Heights, Opposite Apsara Cinema, Near Hotel Seven Loves Chowk, Pune-411037, Maharashtra, India
Tel. No.:	91-20-26459655
Mobile No.:	91-9371016432
E-Mail :	skvakharia@hotmail.com
PAN No.:	AAOPV3448B

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
9500	Equity Shares	Rs.100/- each	Rs.0.950 Million
500	Preference Shares	Rs.100/- each	Rs.0.050 Million
	Total		Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6000	Equity Shares	Rs.100/- each	Rs.0.600 Million

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		0.600	0.600	0.600
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		88.102	82.119	77.490
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		88.702	82.719	78.090
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		15.798	14.088	12.585
TOTAL BORROWING		15.798	14.088	12.585
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		104.500	96.807	90.675
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		25.441	28.798	27.250
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		20.956	30.050	27.967
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	17.592	18.121	16.792
	Sundry Debtors	15.772	12.932	16.580
	Cash & Bank Balances	30.504	14.703	3.715
	Other Current Assets	1.192	0.704	0.000
	Loans & Advances	16.876	18.732	21.063
Total Current Assets		81.936	65.192	58.150
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.352	10.724	5.992
	Other Current Liabilities	14.010	14.483	15.213
	Provisions	1.471	2.026	1.487
Total Current Liabilities		23.833	27.233	22.692
Net Current Assets		58.103	37.959	35.458
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		104.500	96.807	90.675

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		114.307	92.652
		Other Income		0.445	0.722
		TOTAL	120.578	114.752	93.374
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	111.810	108.090	90.816
	PROFIT BEFORE TAX		8.768	6.662	2.558
Less	TAX		2.766	2.033	1.317
	PROFIT AFTER TAX		6.002	4.629	1.241
	VALUE IMPORTS		22.256	18.578	11.926
	Earnings Per Share (Rs.)		1000.00	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	19.80	17.47	1.33
Net Profit Margin (PBT/Sales)	(%)	NA	5.83	2.76
Return on Total Assets (PBT/Total Assets}	(%)	10.69	10.22	4.40
Return on Investment (ROI) (PBT/Networth)		0.10	0.08	0.03
Debt Equity Ratio (Total Liability/Networth)		0.45	0.50	0.45
Current Ratio (Current Asset/Current Liability)		3.44	2.39	2.56

LOCAL AGENCY FURTHER INFORMATION

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	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
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	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

Note: The registered office of the company has been shifted from Pune-411002, Maharashtra, India to the present address w.e.f. 02.06.2008.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U29196MH1990PTC058474
Name of the company	SANSUI ELECTRONICS PRIVATE LIMITED,
Address of the registered office or of the principal place of business in India of the company	Plot No. E – 59, Behind Krishi Panan Mandal, Market Yard, Gultekdi, Pune – 411 037, Maharashtra, India Email: girish_burande@rediffmail.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	Citi Bank N. A., Kumar Capital, 2413 East Street, 2413 East Street, Camp, Pune-411001, Maharashtra, India Email: vlaxman@vsnl.com
Nature of instrument creating charge	a) Business Loan Agreement; b) Deed of Hypothecation. (Collectively constitute a single charge for Rs.9.000 Milllions)
Date of instrument Creating the charge	09.04.2010
Amount secured by the charge	Rs.9.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Letter of Credit and Bank Guarantee facility of Rs.9.000 Millions: As Per Trade Norms. Terms of Repayment Letter of Credit & Bank Guarantee facility of Rs.9.000 Millions shall be repayable in 12 months. Margin As may be stipulated by Bank from time to time. Extent and Operation of the charge Hypothecation by way of first exclusive charge on Stocks and Book Debts of the Company as security for repayment of Rs.9.000 Millions by the Company, together with interest, liquidated damages, costs, charges and expenses and all other moneys due and payable by the Company to the Bank. Others Immovable properties bearing Plot No.1 (New 16), Out of S.No.104/108/1, CTS No.1443, Bhuvaneshwar Colony, Off Abhimanshree Society, Pashan Road, Pune- 411 008 (Personal Guarantee received from Mr. Sunil Desadla)
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation by way of first exclusive charge over the whole of the movable assets of the Company, including any and all stocks, book debts and receivables

FIXED ASSETS:

• Plots and Land
• Building
• Furniture and Fixtures
• Computers
• Plant and Machinery
• Office Equipments
• Vehicles
• Wind Mill

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.54.55
UK Pound	1	Rs.85.47
Euro	1	Rs.68.70

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		49

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.