1. Summary Information

		Country	India
Company Name	Jalaram Polymers Private Limited	Principal Name 1	Mr. Ashok Jain
Status	Moderate	Principal Name 2	Mr. Pratik Devichand Jain
		Registration #	11-78080
Street Address	11/88, Navjyot Co-operative Society, M G Road, Goregaon (West), Mumbai-400062, Maharashtra, India
Established Date	29.04.1994	SIC Code	--
Telephone#	Not Available	Business Style 1	Manufacturer
Fax #	Not Available	Business Style 2	--
Homepage	--	Product Name 1	Household Appliances
# of employees	Not Available	Product Name 2	Kitchen Appliances.
Paid up capital	Rs.6,490,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors- 100%	Banking	Bombay Mercantile Co-operative Bank Limited
Public Limited Corp.	No	Business Period	18 years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	B (36)
Related Company
Relation	Country	Company Name	CEO
Related Parties	--	Jalaram Appliances	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	80,851,000	Current Liabilities	41,617,000
Inventories	3,056,000	Long-term Liabilities	11,072,000
Fixed Assets	9,583,000	Other Liabilities	0,000
Deferred Assets	0,000	Total Liabilities	52,689,000
Invest& other Assets	85,000	Retained Earnings	34,396,000
		Net Worth	40,886,000
Total Assets	93,575,000	Total Liab. & Equity	93,575,000
Total Assets (Previous Year)	89,917,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales (Including Other Income)	75,082,000	Net Profit	264,000
Sales(Previous yr) (Including Other Income)	66,420,000	Net Profit(Prev.yr)	215,000

MIRA INFORM REPORT

Report Date :

17.07.2012

IDENTIFICATION DETAILS

Name :	JALARAM POLYMERS PRIVATE LIMITED
Registered Office :	11/88, Navjyot Co-operative Society, M G Road, Goregaon (West), Mumbai-400062, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	29.04.1994
Com. Reg. No.:	11-78080
Capital Investment / Paid-up Capital :	Rs. 6.490 Millions
CIN No.: [Company Identification No.]	U24134MH1994PTC078080
TAN No.: [Tax Deduction & Collection Account No.]	MUMJ11238D
PAN No.: [Permanent Account No.]	AAACJ2840A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Household Appliances and Kitchen Appliances.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (36)

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

Maximum Credit Limit :	USD 160000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Management have fail to file the current year financial details with government department. However from the previous year track records company seems to be performing well. Trade relations are reported to be fair. Business is active. Payments are unknown. 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 :	11/88, Navjyot Co-operative Society, M G Road, Goregaon (West), Mumbai-400062, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	jalarampolymers@hotmail.com trushnajhaverics@gmail.com
Corporate Office :	10 Deven Industrial Estate, I.B Patel, Road, Goregaon (East), Mumbai-400063, Maharashtra, India
Tel. No.:	91-22-26852980/ 26852981/ 28735456/ 28735202
Fax No.:	91-22-28726711
Factory 1 :	Sharma Industrial Estate, Goregaon (East), Mumbai – 400063, Maharashtra, India
Factory 2 :	Located at: · Daman

DIRECTORS

(AS ON 30.09.2010)

Name :	Mr. Ashok Devichand Jain
Designation :	Director
Address :	11/88, Navjyot Co-operative Society, M G Road, Goregaon (West), Mumbai-400062, Maharashtra, India
Date of Birth/Age :	22.06.1962
Date of Appointment :	29.04.1994
DIN No.:	00598007
Name :	Mr. Pratik Devichand Jain
Designation :	Director
Address :	35/304, Unnat Nagar No.2, Off S. V. Road, Goregaon (West), Mumbai-400062, Maharashtra, India
Date of Birth/Age :	14.07.1970
Date of Appointment :	29.04.1994
DIN No.:	02494049
Name :	Mr. Sampatraj Devichand Jain
Designation :	Director
Address :	35/299, Unnat Nagar No.2, Off S. V. Road, Goregaon (West), Mumbai-400062, Maharashtra, India
Date of Birth/Age :	31.12.1957
Date of Appointment :	01.04.1998
DIN No.:	02494990
Name :	Mr. Satish Devichand Shah
Designation :	Director
Address :	11/90, Unnat Nagar, Navjyot Co-operative Society, M G Road, Goregaon (West), Mumbai-400062, Maharashtra, India
Date of Birth/Age :	24.10.1965
Date of Appointment :	01.04.1998
DIN No.:	02492816

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
Ashok Jain	16770
Ashok Jain (HUF)	14000
Pratik Devichand Jain	5000
Sampatraj Devichand Jain	3900
Satish Devichand Shah	13350
Ancheeta Devi	1980
Alliance International and Network Private Limited, India	3400
Alpha Chemie Trade Agencies Private Limited, India	500
Buniyad Chemical Limited, India	1200
Mihir Agencies Private Limited, India	1600
Alembic Securities Private Limited, India	1500
Telent Infoway Limited, India	1700
Total	64900

(AS ON 30.09.2010)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Household Appliances and Kitchen Appliances.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Bombay Mercantile Co-operative Bank Limited,

S. V. Road, Malad (West), Mumbai-400064, Maharashtra, India

· HDFC Bank

Facilities :

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
From Banks
Bombay Mercantile Co-operative Bank	2.427	3.453
HDFC Bank (Car Loan) – Accent Hundai	0.000	0.022
HDFC Bank (Car Loan) – Accent Varna	0.000	0.074
HDFC Bank Limited – Ratan Motor Eicher	0.299	0.000
HDFC Bank Car Loan	0.057	0.160
Packing Credit Facilities	0.000	2.493
Sonata HDFC Bank Loan	0.382	0.724
Sundaram Finance	0.312
Total	3.477	6.926
Unsecured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
From Others	7.595	8.636
Total	7.595	8.636

Banking Relations :	--
Auditors :
Name :	Ashok K Lohiya and Associates Chartered Accountant
Address :	3/3, Sonal Apartment, Sonawala Cross Road No. 1, Goregaon (East), Mumbai-400063, Maharashtra, India
PAN No.:	AAAPL3646B
Related Parties :	· Jalaram Appliances · Durable Home Appliances · Mass International · Jalaram Appliances Polymers · Nikita Developers · Laxmi Development Corporation

CAPITAL STRUCTURE

(AS ON 30.09.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
64900	Equity Shares	Rs.100/- each	Rs.6.490 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		6.490	6.490	5.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		34.396	34.133	25.628
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		40.886	40.623	31.128
LOAN FUNDS
1] Secured Loans		3.477	6.926	4.625
2] Unsecured Loans		7.595	8.636	14.695
TOTAL BORROWING		11.072	15.562	19.320
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		51.958	56.185	50.448
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		9.583	11.175	10.480
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.085	0.085	0.085
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.056	3.898	10.351
	Sundry Debtors	17.891	16.215	16.188
	Cash & Bank Balances	0.133	1.352	0.368
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	62.827	57.192	46.357
Total Current Assets		83.907	78.657	73.264
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	41.372	33.479	33.354
	Other Current Liabilities	0.245	0.253	0.027
	Provisions	0.000	0.000	0.000
Total Current Liabilities		41.617	33.732	33.381
Net Current Assets		42.290	44.925	39.883
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		51.958	56.185	50.448

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		TOTAL	75.082	66.420	58.233
Less	EXPENSES
		TOTAL	74.818	66.205	57.689
	PROFIT BEFORE TAX		0.264	0.215	0.544
Less	TAX		0.000	0.000	0.000
	PROFIT AFTER TAX		0.264	0.215	0.544
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000	0.000	0.000
	BALANCE CARRIED TO THE B/S		0.264	0.215	0.544
	EARNINGS IN FOREIGN CURRENCY		12.211	3.283	5.583
	Earnings Per Share (Rs.)		4.07	--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.35	0.32	0.93
Return on Total Assets (PBT/Total Assets}	(%)	0.28	0.24	0.65
Return on Investment (ROI) (PBT/Networth)		0.01	0.01	0.02
Debt Equity Ratio (Total Liability/Networth)		1.29	1.21	1.69
Current Ratio (Current Asset/Current Liability)		2.02	2.33	2.19

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	No
Name of Person Contacted	No
Designation of Contact person	No
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

FORM 8:

This form is for	Creation of charge
Corporate identity number of the company	U24134MH1994PTC078080
Name of the company	JALARAM POLYMERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	11/88 Navjyot Co-Operative Society, M G Road, Goregaon West, Mumbai – 400062, Maharashtra, India trushnajhaverics@gmai.com
Type of charge	Immovable Property Book Debts Others: Stocks
Particular of charge holder	Bank of Baroda Goregaon (East) Branch, 48, Shiv Shakti, J. P. Nagar, Mumbai – 400063, Maharashtra, India goreas@bankofbaroda.com
Nature of description of the instrument creating or modifying the charge	Composite hypothecation agreement and memorandum of deposit of titile deeds dated 29/12/2011.
Date of instrument Creating the charge	29/12/2011
Amount secured by the charge	Rs.20.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest Base rate plus 3.25% i.e 14% p.a. at present with monthly rest, subject to change as per bank's guidelines. Terms of Repayment Repayable on demand subject to annual review Margin 25% on Stock and 25% on Book Debts 25% on Letter of Credit 25% on Bank Guarantee 25% on PC/PCFC /FBP/FCBP/UFBP/FCBD Extent and Operation of the charge As mentioned in composite hypothecation agreement and memorandum of deposit of title deeds.
Short particulars of the property charged	Immovable Property - Survey No. 690/5, Plot No 15 Admeasuring 1025 sq meter of Golden Industrial Estate , Somnath Road, Dabhol, Daman Stock of raw materials, finished goods, semi finished goods, stocks in process and book debts.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Electrical Installation

· Dies and Moulds

· Furniture and Fixture

· Office Equipment

· Vehicles

· Xerox Machine

· Air Conditioner

· Computer

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.55.66
UK Pound	1	Rs.85.89
Euro	1	Rs.67.88

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		36

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.