MIRA INFORM REPORT

Report Date :

31.07.2012

IDENTIFICATION DETAILS

Name :	APEX INDUSTRIES PRIVATE LIMITED
Registered Office :	52, Dada Colony, Industrial Area, Jalandhar-144004, Punjab
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.11.1985
Com. Reg. No.:	16-6542
Capital Investment / Paid-up Capital :	Rs.0.700 Million
CIN No.: [Company Identification No.]	U51909PB1985PTC006542
TAN No.: [Tax Deduction & Collection Account No.]	JLDA00106B
PAN No.: [Permanent Account No.]	AABCA5082G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Machine Tools Accessories.
No. of Employees :	30 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 25000
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 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 – 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

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. R M Walia
Designation :	Director
Contact No.:	91-9814300531
Date :	28.07.2012

LOCATIONS

Registered Office/Factory :	52, Dada Colony, Industrial Area, Jalandhar-144004, Punjab, India
Tel. No.:	91-181-2290586/2290631/3290687
Mobile No.:	91-9814300531 [Mr. R M Walia]
Fax No.:	91-181-2290421
E-Mail :	apexwali@jla.vsnl.net.in kbco16@gmail.com
Location:	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. R M Walia

Designation :

Director

Address :

359, Lajpat Nagar, Jalandhar, Punjab, India

Date of Birth/Age :

20.02.1965

Date of Appointment :

22.02.1996

Din No.:

01227034

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	Company/ LLP Status	Defaulting status
1	U51909PB1985PTC006542	APEX INDUSTRIES PRIVATE LIMITED	Managing director	22/02/1996	22/02/1996	Active	NO
2	U29220DL2008PTC173367	R A MACHINE TOOLS PRIVATE LIMITED	Director	30/01/2008	30/01/2008	Active	NO

Name :

Mrs. Rashmi Walia

Designation :

Director

Address :

359, Lajpat Nagar, Jalandhar, Punjab, India

Date of Birth/Age :

08.07.1969

Date of Appointment :

22.02.1996

Din No.:

01126099

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	Company/ LLP Status	Defaulting status
1	U51909PB1985PTC006542	APEX INDUSTRIES PRIVATE LIMITED	Director	22/02/1996	22/02/1996	Active	NO
2	U29220DL2008PTC173367	R A MACHINE TOOLS PRIVATE LIMITED	Director	30/01/2008	30/01/2008	Active	NO

Name :

Mrs. Santosh Walia

Designation :

Director

Address :

359, Lajpat Nagar, Jalandhar, Punjab, India

Date of Birth/Age :

02.04.1943

Date of Appointment :

22.02.1996

Din No.:

01123545

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
R M Walia	4455
Santosh Walia	960
Rashmi Walia	1585
Total	7000

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Machine Tools Accessories.
Products :	· Clamps and Clamping Elements · Machine Vice · Bench Vice
Exports :
Products :	Machine Tools Accessories
Countries :	· USA · Europe
Terms :
Selling :	L/C / Cash and Credit [30 and 60 Days]
Purchasing :	Cash and Credit [30 and 60 Days]

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

30 [Approximately]

Bankers :

· Punjab National Bank, Jalandhar, Punjab, India

· State Bank of India, Industrial Area branch, Jalandhar, Punjab, India

Facilities :

UNSECURED LOAN	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Unsecured Loan	6.391	5.880
Total	6.391	5.880

Banking Relations :	--
Auditors :
Name :	K Bhagat and Company Chartered Accountants
Address :	16-Brij Nagar, Jalandhar-144001, Punjab, India
Tel. No.:	91-181-2282829 / 2212471 (O) / 2282830 / 2212470 (R)
Mobile No.:	91-9814203435
Pan No.:	AACFK8406G

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7000	Equity Shares	Rs.100/- each	Rs.0.700 Million

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		0.700	0.700	0.700
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		5.594	1.602	0.689
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		6.294	2.302	1.389
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		6.391	5.880	6.505
TOTAL BORROWING		6.391	5.880	6.505
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		12.685	8.182	7.894
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.194	1.287	1.034
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	2.199	1.202	1.839
	Sundry Debtors	8.555	7.674	7.885
	Cash & Bank Balances	5.714	6.249	4.886
	Other Current Assets	3.474	2.543	1.888
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		19.942	17.668	16.498
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.928	7.692
	Other Current Liabilities	0.523	3.081	6.597
	Provisions	0.000	0.000	3.041
Total Current Liabilities		8.451	10.773	9.638
Net Current Assets		11.491	6.895	6.860
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		12.685	8.182	7.894

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
SALES	37.669	34.547	33.375
NET PROFIT	1.382	0.913	0.689

Particulars	31.03.2012
Sales Turnover [Approximately]	41.500

Expected Sales (2012-13) : More than Rs.60.000 Millions.

The above information has been parted by Mr. R M Walia.

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	2.35	7.23	11.62
Current Ratio (Current Asset/Current Liability)	2.35	1.64	1.71

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	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 three 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	No
17) Major suppliers	No
18) Major customers	No
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	No

FINANCIAL RESULTS:

The company has made sale of Rs.37.669 Millions during the year ended 31.03.2011. The company has earned profit Rs.1.382 Millions during the year ended 31.03.2011. The company has not paid remuneration exceeding the limit laid down u/s 217(2-A) per month to any of its employee during the year. The report under section 217(1) (e) regarding energy conservation. Technology Absorption and Foreign Exchange earnings is nil. The director’s proposed that no dividend should be declared so that profit is retained in the business.

FIXED ASSETS:

· Air Conditioner

· Car

· Computer

· Fans

· Furniture and Fixtures

· Generator Set

· Mobile Set

· Motor Cycle

· Office Equipment

· Pager Machine

· Refrigerator

· Scooter

· Typewriters

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.55.44
UK Pound	1	Rs.87.12
Euro	1	Rs.68.15

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	TPT

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	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		31

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.