MIRA INFORM REPORT

Report Date :

19.07.2012

IDENTIFICATION DETAILS

Name :	MONAL LAMINATE PRIVATE LIMITED
Registered Office :	Near Superstar Ceramic, Behind Monarch Ceramic, Lakdhirpar Road, 8A National Highway, Morbi – 363642, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.02.2010
Com. Reg. No.:	04-059537
Capital Investment/ Paid-up Capital:	Rs.20.300 Millions
CIN No.: [Company Identification No.]	U20219GJ2010PTC059537
TAN No.: [Tax Deduction & Collection Account No.]	RKTM03187C
PAN No.: [Permanent Account No.]	AAGCM3530N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Laminate Sheets, Plastic Laminate Sheets and Door Skin.
No. of Employees:	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 61000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is newly established company having moderate track record. There appears loss in the current years. However, trade relations are reported to be fair. Business is active. Payments are reported to slow but correct. The company can be considered for business dealings 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.

INFORMATION PARTED BY

Name :	Mr. Anand Patel
Designation :	Director
Contact No.:	91-9978999055
Date :	18.07.2012

LOCATIONS

Registered Office/ Factory :	Near Superstar Ceramic, Behind Monarch Ceramic, Lakdhirpar Road, 8A National Highway, Morbi – 363642, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9978999055 (Mr. Anand Patel)
Fax No.:	Not Available
E-Mail :	monal.laminate@gmail.com monal_laminate@rediffmail.com
Area :	144000 Sq. ft
Location :	Owned

DIRECTORS

As on: 30.09.2011

Name :	Mr. Karshanbhai Jivani Sundarjibhai
Designation :	Director
Address :	Anupam Society, Ravapar Road, Morbi – 363641, Gujarat, India
Date of Birth/Age :	05.11.1970
Date of Appointment :	10.02.2010
DIN No.:	00874561
Name :	Mr. Arvindbhai Sundarjibhai Jivani
Designation :	Director
Address :	Shastrinagar, Ravapar Road, Morbi – 363641, Gujarat, India
Date of Birth/Age :	10.07.1975
Date of Appointment :	10.02.2010
DIN No.:	00930058
Name :	Mr. Pranjivanbhai Nagjibhai Kashundra
Designation :	Director
Address :	Gokulnagar, Ravapar Road, Morbi – 363641, Gujarat, India
Date of Birth/Age :	03.10.1963
Date of Appointment :	01.05.2010
DIN No.:	03034667
Name :	Mr. Anandbhai Patel
Designation :	Director
Address :	Kishna Bhuvan, Behind Parshi Agiyari, Jamnagar – 361001, Gujarat, India
Date of Birth/Age :	21.09.1986
Date of Appointment :	01.05.2010
DIN No.:	03034676

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Karshanbhai Sundarjibhai Jivani	48600
Arvindbhai Sundarjibhai Jivani	12000
Ravibhai Damjibhai Chaniyara	178000
Anandbhai Jitendrabhai Patel	77000
Pranjivan Naqjibhai Kasundra	20000
Satishbhai Ganeshbhai Kasundra	33200
Pravinbhai Nagiibhai Kasundra	2000
Dayaben Rameshbhai Gambhava	35000
Shakuntalaben Arvindbhai Jivani	16000
Bhavnaben Karshanbhai Jivani	26000
Sundarjibhai Jadavajibhai Jivani	76000
Vijaybhai Bhagvanjibhai Makasana	120000
Manjulaben Jitendrabhai Patel	90000
Maganbhai Popatbhai Haraniya	90500
Dhaniibfiai Popatbhai Haraniya	94000
Poonamben Satishbhai Kasundra	15000
Gavvindbhai Hansrajbhai Panara	95000
Narshibhsi Savjibhsi Panara	95000
Pravinbhai Mohanbhai Kalariya	40000
Mavjibhai Vashrambhai Garni	140000
Vandanaben Damjibhai Chaniyara	47750
Bhaqwanjibhai Dayabhai Faldu	28000
Jignesh Sundarji Kaila	60000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Laminate Sheets, Plastic Laminate Sheets and Door Skin.
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS

Particulars	Unit	Licensed Capacity	Installed Capacity	31.03.2011
Actual Production	Kgs	NA	NA	357068

GENERAL INFORMATION

Suppliers :

· Aditya and Aditya

· Omkar Electricals

· Amrut Computers

· Kantilal Chimanlal

· Bhumi Corporation

· Naresh Tradlink Private Limited

· Comet Chemicals

· Vedant Tradelinks Private Limited

· Infinity Vincom Private Limited

· Parekh Overseas

· Vishal Impex

· Krishna Scientifc Traders

· Simalin Chemical Ind Private Limited

· Fakirsons Papchem Private Limited

· Jay Overseas Private Limited

Customers :

Distributor

· Vinus Traders

· Geeta Ply and Hardware

· Dev Laminates

· Vinesh Traders

· Umiyaji Plywood

· Ganesh Plywood

· Seagal Laminates

· Rajvi Enterprise

· Amit Laminates

· Sanford Vitrified Private Limited

No. of Employees :

25 (Approximately)

Bankers :

· Bank of India, Jail Road, Morbi - 363641, Gujarat, India

· State Bank of India

· Bank of Baroda

· HDFC Bank Limited

Facilities :

TL and Cash Credit Rs.49.500 Millions (From Bank of India)

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Term Loan from Bank of India (EQM of Factory Land and Building and Hypothecation of all Plant and Machinery	34.645	0.000
Cash Credit from Bank of India (Hypothecation of all Inventory and Book Debts)	12.500	0.000
Car Loan from HDFC Bank Limited (Hypothecation of Car)	0.492	0.000
Total	47.637	0.000
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Directors, Share Holders and Their Relatives (Accepted in pursuant to the stipulation of financial institutions)	9.065	0.000
Total	9.065	0.000

Banking Relations :	--
Auditors :
Name :	B.B. Kalaria and Company Chartered Accountants
Address :	123-Shri Hari Commercial Complex, 6-Savsar Plot, Near Parth Hospital, Ayodhyapuri Main Road, Morbi – 363642, Gujarat, India
Tel. No.:	91-2822-230134
Mobile No.:	91-9825130134
PAN No.:	AQNPK4272B

CAPITAL STRUCTURE

As on: 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2250000	Equity Shares	Rs.10/- each	Rs.22.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2030000	Equity Shares	Rs.10/- each	Rs.20.300 Millions

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2030000	Equity Shares	Rs.10/- each	Rs.20.300 Millions

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		20.300	0.500
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		(4.905)	9.677
4] (Accumulated Losses)		0.000	0.000
NETWORTH		15.395	10.177
LOAN FUNDS
1] Secured Loans		47.637	0.000
2] Unsecured Loans		9.065	0.000
TOTAL BORROWING		56.702	0.000
DEFERRED TAX LIABILITIES		0.466	0.000
TOTAL		72.563	10.177
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		51.510	0.450
Capital work-in-progress		0.000	0.404
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	24.750	0.000
	Sundry Debtors	3.173	0.000
	Cash & Bank Balances	0.802	1.813
	Other Current Assets	0.000	0.000
	Loans & Advances	7.790	7.460
Total Current Assets		36.515	9.273
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	15.363	0.000
	Other Current Liabilities	0.338	0.000
	Provisions	0.041	0.015
Total Current Liabilities		15.742	0.015
Net Current Assets		20.773	9.258
MISCELLANEOUS EXPENSES		0.280	0.065
TOTAL		72.563	10.177

PROFIT & LOSS ACCOUNT

PARTICULARS			31.03.2011	31.03.2010
SALES
	Income		5.114
	Other Income		0.091
	TOTAL		15.395	NA
EXPENSES
	Office Expenses
	Administrative Expenses
	Advertising Expenses
	TOTAL		19.834	NA
PROFIT/ (LOSS) BEFORE TAX			(4.439)	NA
TAX			0.467	NA
PROFIT/ (LOSS) AFTER TAX			(4.906)	NA
Earnings/ (Loss) Per Share (Rs.)			(2.42)	NA

Particulars	31.03.2012
Sales Turnover (Approximately)	6.000

Expected Sales (2012-2013): Rs.9.000 Millions

The above information has been parted by Mr. Anand Patel

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	(31.87)	NA
Net Profit Margin (PBT/Sales)	(%)	(86.80)	NA
Return on Total Assets (PBT/Total Assets}	(%)	(5.04)	NA
Return on Investment (ROI) (PBT/Networth)		0.29	NA
Debt Equity Ratio (Total Liability/Networth)		4.71	0.00
Current Ratio (Current Asset/Current Liability)		2.32	618.20

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010
Sundry Creditors
Sundry Creditors for Goods and Expenses	15.363	0.000
Total	15.363	0.000

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
Promoters background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last one year	Yes
Profitability for last one year	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	Yes
Capital the business	Yes
Details of sister concerns	No
Major Suppliers	Yes
Major Customers	Yes
Payment Terms	Yes
Export / Import Details [If Applicable]	Yes
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U20219GJ2010PTC059537
Name of the company	MONAL LAMINATE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	S. No. 7681/P1, Lakdhirpar Road, Behind Monarch Ceramic, Taluka Morbi, Ghuntu – 363642, Gujarat, India E-mail: monal_laminate@redifmail.com
This form is for	Creation of charge
Type of charge	· Immovable property · Book debts · Movable property (not being pledge)
Particular of charge holder	Bank of India, Jail Road, Morbi - 363641, Gujarat, India E-mail: morvi.rajkot@bankofindia.co.in
Nature of instrument creating charge	i) Hypo. cum Loan Agreement (Plant, Machinery, stock and book-debts), ii) Memorandum of Entry.
Date of instrument Creating the charge	17.06.2010
Amount secured by the charge	Rs.49.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 12 % presently Terms of Repayment C/C : On demand, T/L: 78 EMIs of Rs. 0.474 Million Margin T/L : 25 % New and 40 % Old, Stock : 25 % Book Debts : 40 % Extent and Operation of the charge First Charge of Bank
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of all stocks including r/m, semi-finished and finished goods, book-debts, all current assets, all plant and machineries, present and future more particularly described in copy of agreement annexed. EM of factory land and building at S. No. 768p1/p1, Village Ghuntu, Taluka Morbi more particularly described in copy of agreement annexed.

FINANCIAL RESULTS:

The Company has incurred loss of Rs. 4.439 Millions on a total income of Rs. 5.504 Millions during the year. In view of loss, your directors do not recommend any dividend.

TRADE REFERENCE:

· Aditya and Aditya

· Vinus Traders

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Electrification

· Office Furniture

· Car – I20

· 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 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.55.34
UK Pound	1	Rs.86.55
Euro	1	Rs.67.95

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	VRN

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	3
--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		27

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.