MIRA INFORM REPORT

Report Date :

14.06.2012

IDENTIFICATION DETAILS

Name :	SJ CONTRACTS PRIVATE LIMITED
Registered Office :	2/6, Shubhmangal Society, 979-984 B, Shivaji Nagar, Opposite Bhartiya Vidya Bhavan, Off Senapati Bapat Road, Pune – 411016, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	19.05.2008
Com. Reg. No.:	11-132056
Capital Investment / Paid-up Capital :	Rs.16.000 Millions
CIN No.: [Company Identification No.]	U45200PN2008PTC132056
TAN No.: [Tax Deduction & Collection Account No.]	PNES23320D
Legal Form :	Private Limited Liability Company
Line of Business :	Civil Construction Contractors.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 372000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having good track. Trade relations are reported as fair. Business is active. Payments are usually correct and as per commitments. The company can be considered good for business dealings at usual trade terms and conditions.

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. Shrikant Naikad
Designation :	Accountant
Contact No.:	91-20-25670213
Date :	13.06.2012

LOCATIONS

Registered Office :	2/6, Shubhmangal Society, 979-984 B, Shivaji Nagar, Opposite Bhartiya Vidya Bhavan, Off Senapati Bapat Road, Pune – 411016, Maharashtra, India
Tel. No.:	91-20-25670213/ 25677908
Fax No.:	91-20-25670213
E-Mail :	suhasjangle@hotmail.com shrikant.naikad@sjcpl.in
Website :	http:///www.sjcontracts.com http://www.sjconstructions.com http://www.sjcpl.in
Area :	800 sq. ft.
Location :	Rented

DIRECTORS

(AS ON 30.09.2011)

Name :	Mr. Suhas Namdeo Jangle
Designation :	Managing Director
Address :	5, Vikas Ashok Nagar, Range Hills Road, Pune – 411007, Maharashtra, India
Date of Birth/Age :	07.07.1951
Date of Appointment :	19.05.2008
DIN No.:	02106414
Name :	Mr. Saurabh Suhas Jangle
Designation :	Director
Address :	5, Vikas Ashok Nagar, Range Hills Road, Pune – 411007, Maharashtra, India
Date of Birth/Age :	13.09.1981
Date of Appointment :	19.05.2008
DIN No.:	02139478
Name :	Mr. Bhargav Suhas Jangle
Designation :	Director
Address :	5, Vikas Ashok Nagar, Range Hills Road, Pune – 411007, Maharashtra, India
Date of Birth/Age :	06.01.1984
Date of Appointment :	20.02.2011
DIN No.:	03379626

KEY EXECUTIVES

Name :	Mr. Shrikant Naikad
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Suhas Namdeo Jangle	105000
Saurabh Suhas Jangle	52500
Saurabh Suhas Jangle	52500
Total	210000

(AS ON 14.11.2011)

Names of Allottee	No. of Shares Allotted
Suhas Namdeo Jangle	25000
Rajashree Jangle	12500
Saurabh Suhas Jangle	12500
Total	50000

(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 :	Civil Construction Contractors.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Corporate

No. of Employees :

500 (Approximately)

Bankers :

· ICICI Bank Limited

Landmark Race Cource Circle, Alkapuri, Baroda - 390015,Gujarat, India

· ICICI Bank Limited

Shivaji Nagar, Pune, Maharashtra, India

· Bank of Baroda

Ashok Nagar, India

· HDFC Bank

· Kokat Mahindra Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Bank of Baroda Account	37.993	52.353
HDFC Bank 3268181 (Crane)	1.854	3.467
ICICI Bank – 17599156 – Hoist	1.220	1.797
ICICI Bank – 17599157 – Hoist	1.220	1.797
ICICI Bank – LVPUN00017625180 (Chassi)	1.073	1.582
ICICI - LQPUN00017625181 – Con. Boom Pump	6.445	9.498
ICICI Bank – B. Plant LQPUN00022956078	5.428	0.000
ICICI Bank – Chassis (AUTO) LVPUN00022956080	1.486	0.000
ICICI Bank – Chassis (AUTO) LVPUN00022956084	1.486	0.000
ICICI Bank – Chassis (AUTOMO) LVPUN00022956079	1.486	0.000
ICICI Bank – Conveyor Belt LQPUN00022956073	0.915	0.000
ICICI Bank – DG Set 23076610	0.614	0.000
ICICI Bank – DG Set LQUPN00022956072	0.432	0.000
ICICI Bank – Feeding Systems LQUPN00022956074	0.591	0.000
ICICI Bank – SILO – LQPUN00022956075	0.427	0.000
ICICI Bank – SILO – LQPUN00022956077	0.396	0.000
ICICI Bank – SILO -LQUPN00022956076	0.396	0.000
ICICI Bank – T. Mixer LVPUN00022956081	0.591	0.000
ICICI Bank – T. Mixer LVPUN00022956081	0.591	0.000
ICICI Bank – T. Mixer LVPUN00022956083	0.591	0.000
ICICI Bank – Tower Crane 23076639	4.840	0.000
Kotak Mahindra Bank – CSG – 5340610	6.296	0.000
Total	76.371	70.494
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Suhas Jangle	2.500	0.000
R S Jangle	1.250	0.000
Total	3.750	0.000

Banking Relations :	--
Auditors :
Name :	R J Khandelwal and Company Chartered Accountant
Address :	B1/13, Runwal Park, Near Market Yard Bus Depot Market Yard, Pune – 411037, Maharashtra, India
Tel No.:	91-20-24262998 (O)/ 24264426 (R)
PAN No.:	ACDPK5337K

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.100/- each	Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
210000	Equity Shares	Rs.100/- each	Rs.21.000 Millions

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.100/- each	Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
160000	Equity Shares	Rs.100/- each	Rs.16.000 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		16.000	10.000	10.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		76.937	35.150	8.784
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		92.937	45.150	18.784
LOAN FUNDS
1] Secured Loans		76.371	70.494	12.528
2] Unsecured Loans		3.750	0.000	0.000
TOTAL BORROWING		80.121	70.494	12.528
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		173.058	115.644	31.312
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		115.779	74.201	44.873
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		37.303	37.126	1.231
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	190.000	43.500	0.000
	Sundry Debtors	51.573	49.735	5.763
	Cash & Bank Balances	16.255	2.054	2.247
	Other Current Assets	89.210	36.426	8.293
	Loans & Advances	0.241	1.043	0.014
Total Current Assets		347.279	132.758	16.317
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	111.924	46.947	21.615
	Other Current Liabilities	177.343	65.158	2.566
	Provisions	38.036	16.336	6.928
Total Current Liabilities		327.303	128.441	31.109
Net Current Assets		19.976	4.317	(14.792)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		173.058	115.644	31.312

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		TOTAL	951.959	489.213	139.268
Less	EXPENSES
		TOTAL	876.014	443.597	125.883
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		75.945	45.616	13.385
Less/ Add	DEPRECIATION/ AMORTISATION		12.458	6.650	0.846
	PROFIT BEFORE TAX		63.487	38.966	12.539
Less	TAX		21.700	12.600	3.755
	PROFIT AFTER TAX		41.787	26.366	8.784
	Earnings Per Share (Rs.)		261.17	--	--

Particulars	31.03.2012
Sales Turnover (Approximately)	1000.000

Expected Sales (2012-13): Rs.1200.000 Millions

The above information has been parted by Mr. Shrikant Naikad

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.39	5.39	6.31
Return on Total Assets (PBT/Total Assets}	(%)	13.71	18.83	20.49
Return on Investment (ROI) (PBT/Networth)		0.68	0.86	0.14
Debt Equity Ratio (Total Liability/Networth)		4.38	4.41	2.32
Current Ratio (Current Asset/Current Liability)		1.06	1.03	0.52

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011	31.03.2010	31.03.2009
	(Rs. In Millions)
Sundry Creditors
- Dues of Micro Enterprises and Small Enterprises	0.000	0.000	0.000
- Others	111.924	46.947	21.615
Total	111.924	46.947	21.615

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	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
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

This form is for	Creation of charge
Corporate identity number of the company	U45200PN2008PTC132056
Name of the company	SJ CONTRACTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2/6, Shubhmangal Society, 979-984B, Shivaji Nagar, Opposite Bhartiya Vidya Bhavan, Off Senapati Bapat Road, Pune – 411016, Maharashtra, India suhasjangle@hotmail.com
Type of charge	Movable Property
Particular of charge holder	ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India shanthi.venkatesan@icicibank.com
Nature of description of the instrument creating or modifying the charge	Unattested deed of hypothecation dated 31.03.2012
Date of instrument Creating the charge	31/03/2012
Amount secured by the charge	Rs.1.807 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest 11.51% Terms of Repayment Loan is repayable in 36 monthly installments of Rs.0.060 Million each starting from 01.05.2012 till 01.04.2015 Margin Not Specified Extent and Operation of the charge ICICI Bank to have first charge on the asset provided as security.
Short particulars of the property charged	Concrete pump sp 1400 with leaf spring purchased through invoice no 85006328 dated 03.04.2012. Equipment Serial No 802126700.

FIXED ASSETS:

· Plant and Machinery

· Chasis

· Computer and Software

· Construction Equipment

· Furniture and Fixture

· Motor Bike

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.55.85
UK Pound	1	Rs.86.88
Euro	1	Rs.69.88

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		47

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.