MIRA INFORM REPORT

Report Date :

28.06.2012

IDENTIFICATION DETAILS

Name :	HITECH EQUIPMENTS PRIVATE LIMITED
Registered Office :	12 – B, Amritlal Bose Street, Kolkata – 700 005, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	19.01.1988
Com. Reg. No.:	21-43639
Capital Investment / Paid-up Capital :	Rs. 1.941 millions
CIN No.: [Company Identification No.]	U28932WB1988PTC043639
TAN No.: [Tax Deduction & Collection Account No.]	CALH2022G
PAN No.: [Permanent Account No.]	AAACH8613H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Bulk Material Handling Equipments
No. of Employees :	40 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 16000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. Note: Profit and Loss statement is not made available.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
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. S. Ghosh
Designation :	Accounts Manager
Contact No.:	91-33-25550316
Date :	24.07.2012

LOCATIONS

Registered Office :	12 – B, Amritlal Bose Street, Kolkata – 700 005, West Bengal, India
Tel. No.:	91-33-25550316 / 25550539
Mobile No.:	91-9433129724 / 9433119963 (Mr. Swapan K. Dutta)
Fax No.:	91-33-25551995
E-Mail :	htsu12@cal3vsnl.net.in anikeshbanerjee@hotmail.com
Website :	http://www.hytsu.co.in www.dkbanerjeeandco.com
Location :	Rented
Factory :	Plot No. 62, Uluberia Industrial Growth Centre, District Howrah, West Bengal, India

DIRECTORS

As on 29.09.2011

Name :

Mr. Swapan Kumar Dutta

Designation :

Director

Address :

12-B, Amritalal Bose Street, Kolkata-700005, West Bengal, India

Date of Birth/Age :

08.08.1958

Date of Appointment :

19.0.1.1988

Din No.:

00520913

Voter ID No.:

FLG0960419

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	U28932WB1988PTC043639	HITECH EQUIPMENTS PVT LTD	Director	19/01/1988	19/01/1988	-	Active	NO
2	U74999WB1989PTC046243	YANTRA SHILPA UDYOG PVT LTD	Director	15/02/1989	15/02/1989	-	Active	NO

Name :

Mr. Shyamal Dey

Designation :

Director

Address :

56-3, Natabar Paul Road, Howrah-711101, West Bengal, India

Date of Appointment :

30.06.1992

Din No.:

00869572

Name :

Mr. Pannalal Dutta

Designation :

Director

Address :

16-B, Bireswar Dhole Lane, Kolkata-700038, West Bengal, India

Date of Birth/Age :

02.01.1953

Date of Appointment :

02.01.1995

Din No.:

00520971

Voter ID No.:

WB20137168134

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	U74999WB1989PTC046243	YANTRA SHILPA UDYOG PVT LTD	Director	15/02/1989	15/02/1989	-	Active	NO
2	U28932WB1988PTC043639	HITECH EQUIPMENTS PVT LTD	Director	02/01/1995	02/01/1995	-	Active	NO

Name :

Mr. Pradeep Kumar Hazra

Designation :

Director

Address :

104/23D, Centre, Sinthee Road, Kolkata-700050, West Bengal, India

Date of Birth/Age :

24.04.1950

Date of Appointment :

01.03.1997

Din No.:

00520761

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Satyaranjan Sarkar	15100
Swapan Kumar Dutta	32410
Jhumar Dutta	16590
Tara Sarkar	1900
Abha Ganguli	29100
Dipali Sarkar	750
Manoranjan Sarkar	750
Pannalal Dutta	19900
Shyamal Dey	20000
Yantra Shilpa Udyog Private Limited, India	57500
Pradeep Kumar Hazra	100
Total	194100

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	67.00
Other top fifty shareholders	33.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Bulk Material Handling Equipments
Products :	· Zero-friction Idlers · Conveyor Pulleys · Scrapers · Take-up Unit · Belt Conveyor · Belt Feeder · Vibrating Screen · Reciprocation Feeder · Vibrating Feeder · Vibrating Spreader · High Efficiency Screen · Various Type of Crusher · Pulveriser · Chain Conveyor · Scraper Conveyor · Slat Conveyor · Screw Conveyor · Steep Angle Conveyor · Screw Conveyor
Exports :
Products :	Material Handling Equipments
Countries :	· South Arabia · Bangladesh
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS

As on 31.03.2010

Particulars	Unit	Installed Capacity
Roller	Nos.	75000
Others		NA

As on 31.03.2010

Particulars	Unit	Actual Production
Roller	Nos.	13891
Roller	Sets	1712
Conveyor	Nos.	2
Vibrating Screen	Nos.	10
Feeder	Nos.	11
Crusher	Nos.	Nil
Screw Take up	Nos.	8
Flap Gates	Nos.	6
Rack and Pension Gate	Nos.	6
MN Steel Hammer	Nos.	1
Parts of Rod Mill	Nos.	L.S.
Parts of Conveyor	Nos.	L.S.
Parts of Wet Scrapper	Nos.	261
Parts of Screen	Sets	Nil

GENERAL INFORMATION

Suppliers :	· Annapurna Engineering Company
Customers :	Wholesalers and Retailers · NTPC Limited
No. of Employees :	40 (Approximately)
Bankers :	Allahabad Bank, Park Street Branch, 57, Park Street, Kolkata-700016, West Bengal, India
Facilities :	CC – Rs. 3.500 millions

Banking Relations :	--
Auditors :
Name :	T. Datta and Company Chartered Accountant
Address :	18, Ganga Prasad Mukherjee Road, Kolkata-700025, West Bengal, India
PAN No.:	ACWPD1127D
Associates/Subsidiaries :	Yantra Shilpa Udyog Private Limited, India

CAPITAL STRUCTURE

As on 29.09.2011

Authorized Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs. 10/- each	Rs. 3.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
194100	Equity Shares	Rs. 10/- each	Rs. 1.941 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		1.941	1.941	1.941
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.139	1.250	1.097
4] (Accumulated Losses)		0.000	0.000	(0.542)
NETWORTH		4.080	3.191	2.496
LOAN FUNDS
1] Secured Loans		2.400	2.386	4.075
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		2.400	2.386	4.075
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		6.480	5.577	6.571
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.324	1.089	0.930
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.016	0.015	0.008
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.754	4.078	3.415
	Sundry Debtors	8.676	7.863	10.503
	Cash & Bank Balances	8.335	5.726	5.269
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.931	1.928	2.122
Total Current Assets		25.696	19.595	21.309
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		13.639	13.976
	Other Current Liabilities	19.833	0.795	0.648
	Provisions	0.723	0.688	1.052
Total Current Liabilities		20.556	15.122	15.676
Net Current Assets		5.140	4.473	5.633
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6.480	5.577	6.571

Particulars	31.03.2012
Sales Turnover (Approximately)	51.300

Expected Sales ( 2012-13 ) : Rs. 55.000 millions

The above information has been parted by Mr. S. Ghosh.

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	5.62	5.49	7.91
Current Ratio (Current Asset/Current Liability)	1.25	1.30	1.36

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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 One years	Yes
12]	Profitability for last three years	No
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 involved in	----
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
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Passport No of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes

Bankers Charges Report as per Registry

Corporate identity number of the company	U28932WB1988PTC043639
Name of the company	HITECH EQUIPMENTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	12 B Amritlal Bose Street, Kolkata-700005, West Bengal, India
This form is for	Modification of charge
Type of charge	Hypothecation
Particular of charge holder	Allahabad Bank, Park Street Branch, 57, Park Street, Kolkata-700016, West Bengal, India
Nature of instrument creating charge	General Letter of Hypothecation
Date of instrument Creating the charge	15.03.1989
Amount secured by the charge	Rs. 2.187 Millions
Description of the property charged indicating whether it is a charged on	Stock in trade Plant and Machinery Furniture and Fixture Book Debts Fixed Deposits
Brief description of the instrument modifying the charge under section 135	General Letter of Hypothecation
Date of instrument modifying the charge	15.03.2006
Particulars of the present modification	Limits revised to Rs. 4.000 Millions other terms unchanged.

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.55.41
UK Pound	1	Rs.86.93
Euro	1	Rs.68.10

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	NID

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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	Yes
--AFFILIATION	YES/NO	No
--LISTED	YES/NO	No
--OTHER MERIT FACTORS	YES/NO	Yes
TOTAL		28

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

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.