MIRA INFORM REPORT

Report Date :

17.07.2012

IDENTIFICATION DETAILS

Name :	UNIQUE AUTORUBBER UDYOG PRIVATE LIMITED [w.e.f. 06.05.2008]
Formerly Known As :	UNIQUE AUTORUBBER AND FILTER PARTS PRIVATE LIMITED
Registered Office :	E – 985, 100 Feet Road, Shahdara, Delhi – 110032
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.08.2005
Com. Reg. No.:	55-139634
Capital Investment / Paid-up Capital :	Rs.2.853 Millions
CIN No.: [Company Identification No.]	U34300DL2005PTC139634
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Rubber Parts.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 79000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. 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 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

INFORMATION PARTED BY

Name :	Mr. Devender Bisria
Designation :	Export Manager
Contact No.:	91-9212551488
Date :	14.07.2012

LOCATIONS

Registered Office :	E – 985, 100 Feet Road, Shahdara, Delhi – 110032, India
Tel. No.:	Not Available
Mobile No.:	91-9212551488 [Mr. Devender]
Fax No.:	Not Available
E-Mail :	tarunakalra@srsparivar.com uniquerubber@gmail.com
Area :	25000 sq. ft.
Location :	Owned
Factory :	Plot No.18, Sector - 25, Faridabad – 121004, Haryana, India
Tel. No.:	91-129-4060624/ 4060625/ 4060626
Fax No.:	91-129-4060628
Area :	50000 sq. yard
Location :	Owned

DIRECTORS

(AS ON 01.08.2011)

Name :	Mr. Ravinder Garg
Designation :	Director
Address :	Plot No.117, Sector – 9, Faridabad – 121001, Haryana, India
Date of Birth/Age :	08.07.1960
Date of Appointment :	12.08.2005
DIN No.:	00354608
Name :	Mr. Shalender Garg
Designation :	Director
Address :	House No. 529, Sector – 14, Faridabad – 121001, Haryana, India
Date of Birth/Age :	05.08.1961
Date of Appointment :	12.08.2005
DIN No.:	00066103

KEY EXECUTIVES

Name :	Mr. Devender Bisria
Designation :	Export Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 01.08.2011)

Names of Shareholders	No. of Shares
Ravinder Garg	110150
Shalender Garg	93900
S.K. Garg [HUF]	5000
Gayatri Garg	38100
Sangeeta Garg	38100
Total	285250

(AS ON 09.11.2011)

Names of Allottees	No. of Shares Allotted
Ravinder Garg	105000
Shalender Garg	22000
Srp Buildcon Private Limited, India	20000
CMT Real Estate Private Limited, India	100000
Total	247000

(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 :	Manufacturer and Exporter of Rubber Parts.
Products :	· Air Filter Rubber Parts · Oil Filter Rubber Parts · Fuel Filter Rubber Parts · Industrial Rubber Parts · Electrical Rubber Parts · Metal to Bonded Parts (use in Automobile Filters), etc.
Exports :
Products :	Rubber Parts
Countries :	· Korea · Europe · Africa · Italy · USA · Egypt · Oman
Imports :
Products :	Raw Materials
Countries :	Korea
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Baba Maharaj

Customers :

End Users

· Mahale Builders

No. of Employees :

300 (Approximately)

Bankers :

· Oriental Bank of Commerce

Mohna Road, Ballabgarh, Faridabad – 121003, Haryana, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
OBC Bank [Secured against hypothecation of machinery, stock etc.]	35.443	24.548
HDFC Bank [Secured against Hypothecation of Car]	0.751	0.909
Kotak Mahindra Prime Limited (Secured against Hypothecation of Car)	0.280	0.580
OBC Term Loan (Secured Against Hypothecation of Genset)	0.684	1.114
ICICI Bank (Secured against Hypothecation of Car)	0.478	0.000
OBC Bank (Secured against Hypothecation of Machinery)	4.798	0.000
OBC Bank (Secured against Hypothecation of Vehicle)	0.307	0.000
Total	42.741	27.151
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Kishan Chand	0.554	0.554
Naresh Goyal	0.277	0.277
R.K. Garg [HUF]	2.389	2.421
Ram Chand (HUF)	2.500	0.000
Total	5.720	3.252

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

CAPITAL STRUCTURE

(AS ON 01.08.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/-each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
532250	Equity Shares	Rs.10/- each	Rs.5.323 Millions

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/-each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
285250	Equity Shares	Rs.10/- each	Rs.2.853 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		2.853	2.853	0.100
2] Share Application Money		5.750	1.250	0.144
3] Reserves & Surplus		11.205	9.497	0.003
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		19.808	13.600	0.247
LOAN FUNDS
1] Secured Loans		42.741	27.151	0.000
2] Unsecured Loans		5.720	3.252	0.000
TOTAL BORROWING		48.461	30.403	0.000
DEFERRED TAX LIABILITIES		0.784	0.153	0.000
TOTAL		69.053	44.156	0.247
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		30.464	13.986	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.282	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.809	12.436	0.000
	Sundry Debtors	65.001	48.973	0.000
	Cash & Bank Balances	0.408	0.443	0.089
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.111	2.947	0.000
Total Current Assets		84.329	64.799	0.089
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	44.433	33.958	0.000
	Other Current Liabilities	0.890	0.663	0.002
	Provisions	0.503	0.413	0.000
Total Current Liabilities		45.826	35.034	0.002
Net Current Assets		38.503	29.765	0.87
MISCELLANEOUS EXPENSES		0.086	0.123	0.160
TOTAL		69.053	44.156	0.247

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	224.328	163.645	0.000
		Other Income	0.232	0.008	0.016
		TOTAL (A)	224.560	163.653	0.016
Less	EXPENSES
		Cost of Material Consumed	157.634	109.842	0.000
		Direct Expenses	45.166	37.600	0.000
		Personnel Expenses	4.331	2.955	0.000
		Office and Administrative Expenses	4.428	3.426	0.000
		Selling and Distribution Expenses	2.412	2.543	0.000
		Other Expenses	0.515	0.347	0.015
		TOTAL (B)	214.486	156.713	0.015
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		10.074	6.940	0.001
Less	FINANCIAL EXPENSES (D)		4.231	3.107	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.843	3.833	0.001
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.131	2.030	0.000
	PROFIT BEFORE TAX (E-F) (G)		2.712	1.803	0.001
Less	TAX (H)		1.136	0.567	0.000
	PROFIT AFTER TAX (G-H) (I)		1.576	1.236	0.001
	EARNINGS IN FOREIGN CURRENCY		4.945	6.434	NA
	Earnings Per Share (Rs.)		22.08	4.33	--

Particulars	31.03.2012
Sales Turnover (Approximately)	241.200

Expected Sales (2012-13): Rs.300.000 Millions

The above information has been parted by Mr. Devender

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.70	0.75	6.25
Net Profit Margin (PBT/Sales)	(%)	1.21	1.10	0.00
Return on Total Assets (PBT/Total Assets}	(%)	2.34	2.29	1.12
Return on Investment (ROI) (PBT/Networth)		0.14	0.13	0.00
Debt Equity Ratio (Total Liability/Networth)		4.76	4.81	0.01
Current Ratio (Current Asset/Current Liability)		1.84	1.85	44.50

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	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	Yes
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
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

TRADE REFERENCE:

· Baba Maharaj

· Mahale Builders

FORM 8:

This form is for	Modification of charge
Charge identification number of the modified	10170394
Corporate identity number of the company	U34300DL2005PTC139634
Name of the company	Unique Autorubber Udyog Private Limited
Address of the registered office or of the principal place of business in India of the company	E-985, 100 FT Road, Shahdara, Delhi – 110032, India tarunakalra@srsparivar.com
Type of charge	Book Debts Movable Property
Particular of charge holder	Oriental Bank of Commerce Mohna Road, Ballabgarh, Faridabad – 121003, Haryana, India cakkminocha@gmail.com
Nature of description of the instrument creating or modifying the charge	Supplemental Agreement to secure credit/ loan facilities Dt. 14/11/2011
Date of instrument Creating the charge	14/11/2011
Amount secured by the charge	Rs.46.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest @ 3.50% over Base Rate with a minimum @ 14.50% p.a on monthly rests subject to change linked with Base Rate/ RBI Guidelines. Penal Rate: @ 2% aver and above the Normal Rate. Terms of Repayment On Demand. Margin Margin 25% Extent and Operation of the charge Hypothecation of Stocks and Receivables of the Company. Hypothecation of Other Current Assets of the Company. First Charge over the Documents of title to Goods in case of LC's on DP Basis. Hypothecation of Goods in case of LC's on DA basis and the Documents to be Delivered against trust receipt. Hypothecation of all the Fixed Assets both Present and Future of the Company.
Short particulars of the property charged	Hypothecation of Stocks and Receivables of the Company. Hypothecation of Other Current Assets of the Company. First Charge over the Documents of title to Goods in case of LC's on DP Basis. Hypothecation of Goods in case of LC's on DA basis and the Documents to be Delivered against trust receipt. Hypothecation of all the Fixed Assets both Present and Future of the Company.
Date of latest modification prior to the present modification	08/10/2010
Particulars of the present modification	Limit of Amount secured enhanced from Rs. 40.000 Millions to Rs. 46.000 Millions. Rate of Interest: @ 3.50% over Base Rate with a minimum @ 14.50% p.a on monthly rests subject to change linked with Base Rate/ RBI Guidelines. Penal Rate: @ 2% aver and above the Normal Rate.

FIXED ASSETS:

· Air Conditioner

· Plant and Machinery

· Car

· Computer

· Furniture and Fixture

· Tools and Dies

· Motor Cycle/ Scooter

· Office Equipment

· Mobile

· Generator

· Electric Installation

· Van

· Vehicle (Winner)

· Water Cooler

· Weighing Scale

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

Information Gathered by :	SVA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		30

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.