MIRA INFORM REPORT

Report Date :

17.07.2012

IDENTIFICATION DETAILS

Name :	MOTILAL DULICHAND PRIVATE LIMITED
Registered Office :	20 Industrial Estate Kanpur, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.05.1989
Com. Reg. No.:	20-010734
Capital Investment / Paid-up Capital :	Rs. 9.861 Millions
CIN No.: [Company Identification No.]	U24231UP1989PTC010734
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Narrow Fabrics.
No. of Employees :	200 (Approximately)

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 180000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate trade. Profitability of the company appears to be low. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing 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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	D. B. Shukla
Designation :	Deputy Manager Accounts
Contact No.:	91-120-4077709
Date :	14.07.2012

LOCATIONS

Registered Office / Factory :	20, Industrial Estate, Kanpur – 208012, Utter Pradesh, India
Tel. No.:	91-512-2295177 / 2295174
Fax No.:	91-512-2295734
E-Mail :	huzoor@mldcgroup.com accounts@mldcgroup.com
Website :	http://mldcgroup.com
Sales Office 1:	F -124, Sector 8, District Gautam Budh Nagar, Noida- 201301, Uttar Pradesh, India
Tel. No.:	91-120-4077777
Fax No.:	91-120-4077780
E-Mail :	mldcnoida@mldcgroup.com
Regional Office:	City Exhibition Center, F-9, Spencer Plaza, 1^st Floor, 769 Annasalai, Chennai- 600002, Tamilnadu, India
Tel. No.:	91-44-8524532 / 8524536
Fax No.:	91-44-8522148
E-Mail :	mldcch@yahoo.com

DIRECTORS

As on 29.09.2012

Name :

Mr. Subodh Prahladka

Designation :

Whole Time Director

Address :

20 Industrial Estate Kanpur-208012, Uttar Pradesh

Date of Birth/Age :

20.03.1957

Date of Appointment :

01.04.2003

DIN No.:

00531386

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	U17111UP1995PTC018258	SPECIALITY YARN PRODUCTS PRIVATE LIMITED	Director	16/06/1995	16/06/1995	-	Strike off	NO
2	U91110UP1932NPL000467	MERCHANT CHAMBER OF UTTAR PRADESH	Director	06/10/2009	15/10/1998	29/09/2010	Active	NO
3	U25201UP1996PTC020772	INJECTOPLAST PRIVATE LIMITED	Director	12/06/2000	12/06/2000	16/03/2011	Active	NO
4	U24231UP1989PTC010734	MOTILAL DULI CHAND PRIVATE LIMITED	Director	01/04/2003	01/04/2003	-	Active	NO
5	L32109UP1984PLC006600	QUICK ELCTRONICS AND ENGINEERING COMPANY LIMITED	Director	29/09/2009	14/06/2008	-	Active	NO
6	L45101UP1987PLC008799	NARAIN PROPERTIES LIMITED	Director	30/09/2009	14/06/2008	-	Active	NO
7	U65921UP1986PLC007712	HARI KRISHAN PROPERTIES LIMITED	Director	30/09/2009	17/06/2008	-	Active	NO

Name :

Mr. Sunil Prahladka

Designation :

Whole Time Director

Address :

20 Industrial Estate Kanpur-208012, Uttar Pradesh

Date of Birth/Age :

17.09.1959

Date of Appointment :

08.05.1989

DIN No.:

00531274

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	U24231UP1989PTC010734	MOTILAL DULI CHAND PRIVATE LIMITED	Director	08/05/1989	08/05/1989	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pramod Prahladka
Designation :	Vice President-Marketing

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No of Shares
B M Prahladka (B. HUF)	80000
B M Prahladka (IND)	10250
Subodh Prahladka	1500
Sunil Prahladka	83300
Pramod Prahladka	26900
Savitri Prahladka	50000
Nccra Prahladka	105000
Archana Prahladka	28000
Mridula Prahladka	83837
Mriganka Prahladka	7000
Vanshika Prahladka	25500
Vrinda Prahladka	9500
Master Dhananjay Prahladka	155500
Master Suryansh Prahladka	1000
Jamuna Lohia	2362
MLDC Combines Limited	198625
Kanpur Texel (Private) Limited	116400
Sunil Prahladka (HUF)	1000
Mridula Prahladka Family Trust	450
Total	986124

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	31.95
Directors or relatives of Directors	68.05
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Narrow Fabrics.
Products :	· Multi Coloured Cords · Multipurpose Ropes · Stretchable Elastics · Designer Tapes · Shoe Laces · Webbing and Straps · Stylish Belts · Insole and Satin Ribbons · Multi Coloured Threads · Printed Lanyards
Exports :
Products :	Narrow Fabrics
Countries :	· Italy · France · UK · Germany · China
Imports :
Products :	Raw Material
Countries :	Italy
Terms :
Selling :	L/C (Depends)
Purchasing :	L/C (Depends)

GENERAL INFORMATION

Customers :

· Manufacturer

· Traders

No. of Employees :

200 (Approximately)

Bankers :

Canara Bank, Darshan Purwa Branch, Kanpur-208012, Uttar Pradesh, India

Facilities :

CC – Rs. 50.000 millions (From Canara Bank)

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
(A) TERM LOAN
From Canara Bank (Secured against Land and Building Hypothecation of Machinery and Personal Guarantee of all Directors)	17.673	23.737
From ICICI Limited (Secured against Hypothecation of Land and Personal Guarantee of all Directors )	12.274	19.492
From HDFC (Secured against Hypothecation of Car and Personal Guarantee of all Directors)	1.131	0.000
From Tata Motors (Secured against Hypothecation of Car and Personal Guarantee of all Directors)	0.052	0.167
(B) CASH CREDIT LOAN
CC Limit from Canara Bank (Secured against Land and Building, Hypothecation of Stock of Raw Material, Finished Goods, Book Debts and Personal Guarantee of all Directors )	23.683	21.169
Total	54.812	64.564
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Shareholders	22.654	12.341
From Other Companies	0.500	0.175
Total	23.154	12.516

Banking Relations :	--
Auditors :
Name :	Sudhindra Jain and Company Chartered Accountant
Address :	113/223 Swaroop Nagar, Kanpur-208002, Uttar Pradesh, India
Tel. No.:	91-022-2532110/2531195
PAN.:	AACFS7403B
Associates/Subsidiaries :	Kanpur Texel Private Limited Address: 19,. Industrial Estate Kanpur, India Tel No.: 91-512-2295177 (3 Lines), 2298075 (3 Lines) Fax No.: 91-512-2295734 E-Mail : ktpl@mldcgroup.com

CAPITAL STRUCTURE

As on 29.09.2012

Authorized Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
986124	Equity Shares	Rs.10/- each	Rs. 9.861 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		9.861	9.861	9.861
2] Share Application Money		0.000	0.000	14.500
3] Reserves & Surplus		35.879	33.996	28.760
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		45.740	43.857	53.121
LOAN FUNDS
1] Secured Loans		54.812	64.564	71.212
2] Unsecured Loans		23.154	12.516	13.452
TOTAL BORROWING		77.966	77.080	84.664
DEFERRED TAX LIABILITIES		2.396	2.358	2.523
TOTAL		126.102	123.295	140.308
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		86.397	89.142	95.035
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	23.339	17.603	23.637
	Sundry Debtors	16.756	16.969	23.003
	Cash & Bank Balances	0.447	0.478	0.331
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	8.117	6.803	7.801
Total Current Assets		48.659	41.853	54.772
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.180	3.859	6.140
	Other Current Liabilities	3.083	3.308	2.934
	Provisions	0.691	0.533	0.425
Total Current Liabilities		8.954	7.700	9.499
Net Current Assets		39.705	34.153	45.273
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		126.102	123.295	140.308

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	124.402	116.560	99.860
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		15.717	19.649	14.319
Less	FINANCIAL EXPENSES (D)		7.930	9.436	8.724
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		7.787	10.213	5.595
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.175	4.589	4.581
	PROFIT BEFORE TAX (E-F) (G)		2.612	5.624	1.014
Less	TAX (I)		0.729	0.369	0.426
	PROFIT AFTER TAX (G-I) (J)		1.883	5.255	0.588
Add	TAXES PAID FOR EARLIER YEARS		0.000	(0.018)	(0.004)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.076	0.139	0.048
Less	APPROPRIATIONS
		Transfer to General Reserve	1.900	5.300	0.500
	BALANCE CARRIED TO THE B/S		0.059	0.076	0.140
	Earnings Per Share (Rs.)		1.90

Particulars	31.03.2012
Sales Turnover	130.000

Expected Sales (2012-13): Rs. 150.000 millions

The above information has been parted by D.B.Shukla.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	2.09	4.82	1.01
Return on Total Assets (PBT/Total Assets}	(%)	2.07	4.56	0.01
Return on Investment (ROI) (PBT/Networth)		0.05	0.12	0.01
Debt Equity Ratio (Total Liability/Networth)		1.90	1.93	1.77
Current Ratio (Current Asset/Current Liability)		5.43	5.43	5.76

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	Yes
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 two years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	Yes
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

Bankers Charges Report as per Registry

Corporate identity number of the company	U24231UP1989PTC010734
Name of the company	MOTILAL DULI CHAND PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	20, Industrial Estate, Kanpur- 208012, Uttar Pradesh, India. e-mail: huzoor@mldcgroup.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80031484
Type of charge	· Immovable Property · Book Debts · Movable Property(not being Pledge) · Hypothecation of all Plant and Machinery and other Fixed Assets.
Particular of charge holder	Canara Bank, Darshanpurwa, Kanpur-208012, Uttar Pradesh, India. e-mail: cb1673@canarabank.com
Nature of instrument creating charge	Supplemental Common Hypothecation Agreement Dated 19.01.2012
Date of instrument Creating the charge	19.01.2012
Amount secured by the charge	Rs. 45.144 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As mentioned in Sanction Letter and Applicable from Time to Time Terms of Repayment Terms and Conditions of the Common Hypothecation Agreement dated 23.01.2001 except those Terms currently varied / modified by Supplemental agreement Dated 19.04.2006, 08.05.2007, 28.09.2007, 02.06.2008, 18.07.2009, 14.09.2010 and 19.01.2012 Margin 25% on OCC Limit, Term Loan, ILC/FLC and bank guarantee and 30% on ODBD. Extent and Operation of the charge All the assets described in Annexure- II of supplemental common hypothecation agreement as security for repayment of the aggregate limit of Rs. 45144000/- Others Nil
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Land and Building situated at 20, Industrial Estate, Kanpur Land and Building situated at 12B, Dada Nagar, Kanpur Land and Building situated at F-124, Sector-8, Noida All Plant and Machineries installed at location (i) and (ii) above All the book debts of the Company All the stock of raw material, goods in process and finished goods of the Company
Date of instrument modifying the charge	14.09.2010
Particulars of the present modification	The charge last modified on 14.09.2010 is being modified due to change in amount of various advance facilities availed by the Company so as to increase in total credit facility from Rs. 43.307 millions to Rs. 45.144 millions

Fixed Assets

· Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Vehicles

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.54.91
UK Pound	1	Rs.85.46
Euro	1	Rs.67.15

INFORMATION DETAILS

Information Gathered by :	SBN
Report Prepared by :	NID

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	YES
--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.