MIRA INFORM REPORT

Report Date :

16.06.2012

IDENTIFICATION DETAILS

Name :	ULTRA TECH COMPONENTS (INDIA) PRIVATE LIMITED
Registered Office :	T-2536, 1^st Floor, Hardhian Singh Road, Karol Bagh, New Delhi - 110005
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.06.1994
Com. Reg. No.:	55-059498
Capital Investment / Paid-up Capital :	Rs. 2.000 Millions
CIN No.: [Company Identification No.]	U74899DL1994PTC059498
TAN No.: [Tax Deduction & Collection Account No.]	DELU01250E
PAN No.: [Permanent Account No.]	AAACU0944Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trading of Auto Electrical Parts
No. of Employees :	110 (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 13000
Status :	Small company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for small 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. Ravindra
Designation :	Finance Manager
Contact No.:	91-11-41548269
Date :	15.06.2012

LOCATIONS

Registered Office :	T-2536, 1^st Floor, Hardhian Singh Road, Karol Bagh, New Delhi – 110005, India
Tel. No.:	91-11-41548269
Fax No.:	91-11-41548269
E-Mail :	om.girdhar@yahoo.com omdutt06@gmail.com incometax07@gmail.com
Location :	Owned
Factory :	4, Modern Industrial Estate, Bahadurgarh – 124507, Haryana, India
Tel. No.:	91-1276-267381/ 268089

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Om Dutt Girdhar

Designation :

Director

Address :

95, Chanderlok, Pitampura, Delhi – 110034, India

Date of Birth/Age :

16.07.1955

Date of Appointment :

01.08.2006

DIN No.:

00136014

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	U74899DL1995PTC065937	BETAFLEX JOINTING PRIVATE LIMITED	Director	01-03-95	01-03-95	Active	NO
2	U74899DL1994PTC058427	KING SEAL COMPONENTS PRIVATE LIMITED	Director	01-05-00	01-05-00	Active	NO
3	U74899DL1994PTC059498	ULTRA TECH COMPONENTS (INDIA) PRIVATE LIMITED	Director	01-08-06	01-08-06	Active	NO
4	U50404DL2010PTC208748	DE ONE AUTOTEK PRIVATE LIMITED	Director	24-09-10	24-09-10	Active	NO

Name :

Mr. Usha Girdhar

Designation :

Director

Address :

95, Chanderlok, Pitampura, Delhi – 110034, India

Date of Birth/Age :

03.01.1960

Date of Appointment :

30.03.1998

DIN No.:

00136165

Name :

Mr. Jatin Girdhar

Designation :

Director

Address :

95, Chanderlok, Pitampura, Delhi – 110034, India

Date of Birth/Age :

19.11.1982

Date of Appointment :

31.03.2006

DIN No.:

00135945

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	U74899DL1994PTC059498	ULTRA TECH COMPONENTS (INDIA) PRIVATE LIMITED	Director	31-03-06	31-03-06	-	Active	NO
2	U74899DL1995PTC065937	BETAFLEX JOINTING PRIVATE LIMITED	Director	30-09-09	01-04-09	01-10-11	Active	NO

KEY EXECUTIVES

Name :	Mr. Ravindra
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Mr. Om Dutt Girdhar	102900
Mr. Jatin Girdhar	29500
Mr. Usha Girdhar	10000
Mr. Om Dutt Girdhar HUF	20000
Mr. Nitin Girdhar	10000
Mr. Ashok Arora	2600
Sumedha Girdhar	5000
Ved Parkash Thukral	20000
Total	200000

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	90.00
Other top fifty shareholders	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trading of Auto Electrical Parts

Products :

ITC Code	Product Descriptions
8702	Auto Parts

Exports :

Products :

Auto Electrical Parts

Countries :

· Srilanka

· Dubai

Imports :

Products :

Raw Material

Countries :

China

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS AS ON (31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Auto Parts	Pcs.	N.A.		131690

1. It has been informed by the Management that there is no licenced capacity for the Company.

2. The Installed capacities have been taken as certified by the Management and not verified by the

Auditors being a technical matter.

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

110 (Approximately)

Bankers :

State Bank of Bikaner and Jaipur

Facilities :

Overdraft – Rs. 2.500 Millions

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Shareholders	0.900	0.900
Total	0.900	0.900

Banking Relations :	--
Auditors :
Name :	Sandeep kalra and Company Chartered Accountants
Address :	206, D.R. Chambers, 12/56, D.B. Gupta Road, Karol Bagh, New Delhi – 110005, India
Tel. No.:	91-11-41548985/ 86
Income-tax PAN of auditor or auditor's firm :	ABFFS3164D

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs. 10/- each	Rs. 2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value		Amount
200000	Equity Shares	Rs. 10/- each	Rs. 2.000 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		2.000	2.000	2.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.325	1.236	1.199
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.325	3.236	3.199
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.900	0.900	1.095
TOTAL BORROWING		0.900	0.900	1.095
DEFERRED TAX LIABILITIES		0.014	0.023	0.032
TOTAL		4.239	4.159	4.326
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.296	1.403	1.438
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.783	3.807	3.728
	Sundry Debtors	3.148	1.818	2.062
	Cash & Bank Balances	0.125	0.219	0.536
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.212	0.205	0.194
Total Current Assets		6.268	6.049	6.520
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.907	2.928	3.336
	Other Current Liabilities	0.412	0.365	0.293
	Provisions	0.006	0.000	0.003
Total Current Liabilities		3.325	3.293	3.632
Net Current Assets		2.943	2.756	2.888
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.239	4.159	4.326

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	5.909	4.572	8.228
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	5.498	4.340	7.603
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.411	0.232	0.625
Less	INTEREST AND FINANCIAL CHARGES		0.135	0.022	0.166
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.276	0.210	0.459
Less/ Add	DEPRECIATION/ AMORTISATION		0.144	0.155	0.160
	PROFIT BEFORE TAX		0.132	0.055	0.299
Less	TAX		0.043	0.018	0.102
	PROFIT AFTER TAX		0.089	0.037	0.197
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.236	1.199	1.002
	BALANCE CARRIED TO THE B/S		1.325	1.236	1.199
	Earnings Per Share (Rs.)		0.45	0.18	0.99

Particulars	31.03.2012
Sales Turnover (Approximately)	6.000

Expected Sales (2012-2013) : Rs. 6.500 Millions

The above information has been parted by Mr. Ravindra (Finance Manager)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.51	0.81	2.39
Return on Total Assets (PBT/Total Assets}	(%)	1.75	0.74	3.76
Return on Investment (ROI) (PBT/Networth)		0.04	0.02	0.09
Debt Equity Ratio (Total Liability/Networth)		1.27	1.30	1.48
Current Ratio (Current Asset/Current Liability)		1.89	1.84	1.80

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. Constitution 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	Yes
21. Market information	--
22. Litigations that the firm / promoter involved	--
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

Note: The registered address of the company has been shifted from 886/3 East Park Road, Karol Bagh, New Delhi – 110005, India to the present w.e.f. 01.08.2011

OPERATIONS

During the year, Sales and Other Income increased from Rs. 4.572 Millions to Rs. 5.909 Millions. Profit after tax

also increased from Rs. 0.037 Millions to Rs. 0.089 Millions.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74899DL1994PTC059498
Name of the company	ULTRA TECH COMPONENTS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	T-2536, 1st FLOOR HARDHIAN SINGH ROAD, KAROL BAGH NEW DELHI Delhi INDIA 110005
This form is for	Modification of charge
Charge identification number of the modified	10286095
Type of charge	Immovable Property
Particular of charge holder	State Bank of Bikaner and Jaipur, Delhi Rohtak Road, Bahadurgarh – 124507, Haryana, India Email ID: sbbj10770@sbbj.co.in
Nature of description of the instrument creating or modifying the charge	Guarantee Agreement(SME-3)
Date of instrument Creating the charge	28.03.2012
Amount secured by the charge	Rs. 2.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest NA Terms of Repayment Repayable on demand. Margin NA Extent and Operation of the charge The Charge Shall Operate as First Charge on The Assets Hypothecated and Mortgaged. Others The charge has been created on company's land and building as a result of corporate guarantee given by the company in respect of cash credit facility given by the bank to M/s Betaflex Jointing Private Limited (CIN-U74899DL1995PTC065937)
Short particulars of the property charged	Equitable Mortgage of Factory Land and Building plot no. 4,MIE Bahadurgarh, Haryana - 124507, measuring 2193.74 sq yds registered in the name of the company.
Particulars of the present modification	The cash credit facility given by the bank to M/s Betaflex Jointing Private Limited (CIN-U74899DL1995PTC065937) has been enhanced from Rs. 0.900 Millions to Rs. 2.500 Millions. Hence, now the company's gurantee stands for Rs. 2.500 Millions in respect of facility advanced to M/s Betaflex Jointing Private Limited (CIN-U74899DL1995PTC065937).

FIXED ASSETS

· Land

· Building

· Electric Installations

· Plant and Machinery

· Tools and Dies

· Office Machinery

· Vehicle

· Furniture and Fixtures

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. 55.76
UK Pound	1	Rs. 86.69
Euro	1	Rs. 70.44

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	BVA

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	YES
--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.