MIRA INFORM REPORT

Report Date :

27.06.2012

IDENTIFICATION DETAILS

Name :	CHAMPION DEALERS PRIVATE LIMITED
Registered Office :	1^st Floor, Vandan, 47/5, Erandvane, Paud, Road, Pune – 411038, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.09.2007
Com. Reg. No.:	11-130739
Capital Investment / Paid-up Capital :	Rs.13.600 Millions
CIN No.: [Company Identification No.]	U51909PN2007PTC130739
TAN No.: [Tax Deduction & Collection Account No.]	PNEC07254C
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer in Cements, Construction Steels and Industrial Steels
No. of Employees :	Not Available

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There 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 dealing with some cautious.

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

LOCATIONS

Registered Office :	1^st Floor, Vandan, 47/5, Erandvane, Paud Road, Pune – 411038, Maharashtra, India
Tel. No.:	91-20-25460240 / 25460248 / 25467274
Fax No.:	91-20-25460240 / 25460248 / 25467274
E-Mail :	agindi@vsnl.com agindi@championenterprise.com
Website :	www.championenterprise.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Ajit Vasant Gindi

Designation :

Managing Director

Address :

A-25, Amrutwel Society, Model Colony, Pune – 411016, Maharashtra, India

Date of Birth/Age :

05.08.1950

Date of Appointment :

21.09.2007

DIN No.:

00393746

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	U72900PN2007PTC129882	IGK SYSTEMS PRIVATE LIMITED	Director	28/03/2007	28/03/2007	-	Strike off	NO
2	U51909PN2007PTC130739	CHAMPION DEALERS PRIVATE LIMITED	Managing director	1/4/2010	21/09/2007	-	Active	NO
3	U51909PN2010PTC135811	CHAMPION DEALERS (MUMBAI) PRIVATE LIMITED	Managing director	1/4/2010	17/03/2010	-	Active	NO

Name :

Mrs. Leena Ajit Gindi

Designation :

Director

Address :

A-25, Amrutwel Society, Model Colony, Pune – 411016, Maharashtra, India

Date of Birth/Age :

05.02.1956

Date of Appointment :

21.09.2007

DIN No.:

01516094

Name :

Mrs. Ishani Prasanna Deshpande

Designation :

Director

Address :

Sukrut Bunglow Anupam Park, Near Alishahomes Bavdhan, Pune – 411021, Maharashtra, India

Date of Birth/Age :

26.04.1979

Date of Appointment :

21.09.2007

DIN No.:

01516127

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders (Equity Shares)	No. of Shares
Ajit Vasant Gindi	4000
Leena Ajit Gindi	2500
Ishani Prasanna Deshpande	2500
Varda Sondur	1000
Ajit Gindi Joint with Leena Gindi	250000
Leena Gindi Joint with Ajit Gindi	250000
Total	510000

Names of Shareholders (Preference Shares)	No. of Shares
Ajit Gindi Joint with Leena Gindi	450000
Leena Gindi Joint with Ajit Gindi	400000
Total	850000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	99.80
Other top fifty shareholders	0.20
Total	100.00

BUSINESS DETAILS

Line of Business :

Dealer in Cements, Construction Steels and Industrial Steels

GENERAL INFORMATION

Customers :

Builders:

· Beharay and Rathi

· G. Corp. Properties

· Kalpataru Constructions

· Kumar Properties

· Devi Constructions

· Brahma Builders

· Gera Developers

· Godrej Properties

· Kolte Patil Developers

· Kumar Builders

· Suma Shilp Developers

· Vascon Engineers Limited

Institutional Buyers:

· Bajaj Auto

· Kirloskar Brothers Limited

· Finolex Industries Limited

· Hindustan Lever Limited

· Thermax Limited

Construction Contractors:

· Atlanta Limited

· B.G. Shirke Construction Limited

· Enviro Control Equipment.

· ITD Cementations Limited

· Millenium Engineers Private Limited

Industrial Establishments:

· Ahmednagar Forgings Limited

· Ambar Forge Private Limited

· Amforge Industries Limited

· Amtek Auto Limited

· BCL Forgings Limited

· Gurudeo Forgings Private Limited

No. of Employees :

Not Available

Bankers :

· The Cosmos Co-Operative Bank Limited, (Deccan Gymkhana Branch), 269/270,Shaniwar Peth,, Pune - 411030, Maharashtra, India

· Axis Bank

· ICICI Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Term loan from ICICI Bank (Hypothication of Motor Car)	0.703
Term Loan form Sundaram Finance (Hypothivation of Motor Car )	0.196
Term Loan Axis Bank (Hypothivation of Motor Car )	0.210
Term Loan from the cosmos Co-operative Bank Limited (Secured by LC and Bank form Customers)	0.000	36.044
O.D. Against Fixed Deposit	0.074
CC A/c. with the cosmos co-operative Bank Limited (Secured by inventory / book debts and immovable property of director	13.221
Bills Discounting with cosmos co-operative Bank Limited (Secured by book debts)	8.838
Total	23.094	36.044
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Mr. A V Sondur	0.000	1.500
Ajit Gindi	0.960	0.950
Leena Gindi	1.500	1.500
Isham Deshpande	2.600	2.600
Sanjyot Gindi	2.200	2.200
Koiak Mahindra Bank	0.812	1.481
HDFC Bank	2.520	1.807
Bajaj Finance	2.552	0.000
Varada Anant Dondur	1.298	0.000
Total	14.442	12.038

Banking Relations :	---
Auditors :
Name :	S.N. Gogate and Company Chartered Accountants
Address :	"Sanket", 2123, Sadashiv Peth, Vijayanager Colony Pune – 411030, Maharashtra, India
PAN.:	ABJPG1410E

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
510000	Equity Shares	Rs.10/- each	Rs.5.100 Millions
850000	Preference Shares	Rs.10/- each	Rs.8.500 Millions
	Total		Rs.13.600 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
510000	Equity Shares	Rs.10/- each	Rs.5.100 Millions
850000	Preference Shares	Rs.10/- each	Rs.8.500 Millions
	Total		Rs.13.600 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		13.600	13.600	13.600
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		13.978	11.925	7.221
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		27.578	25.525	20.821
LOAN FUNDS
1] Secured Loans		23.094	36.044	35.731
2] Unsecured Loans		14.442	12.038	12.980
TOTAL BORROWING		37.536	48.082	48.711
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		65.114	73.607	69.532
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.405	2.432	2.272
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		13.884	2.818	0.100
DEFERREX TAX ASSETS		0.120	0.120	0.076
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.882	12.688	9.260
	Sundry Debtors	43.439	60.965	58.617
	Cash & Bank Balances	1.736	1.652	9.670
	Other Current Assets	1.670	1.249	1.201
	Loans & Advances	4.325	3.246	4.385
Total Current Assets		53.052	79.800	83.133
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.656	7.232	11.067
	Other Current Liabilities	1.574	1.554	1.682
	Provisions	1.276	2.955	3.484
Total Current Liabilities		4.506	11.741	16.233
Net Current Assets		48.546	68.059	66.900
MISCELLANEOUS EXPENSES		0.159	0.178	0.184
TOTAL		65.114	73.607	69.532

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	371.836	625.928	610.536
		Other Income
		TOTAL	371.836	625.928	610.536
Less	EXPENSES
		Office Expenses
		Administrative Expenses	368.954	619.068	603.682
		Advertising Expenses
		TOTAL	368.954	619.068	603.682
	PROFIT BEFORE TAX		2.882	6.860	6.854
Less	TAX		0.829	2.156	2.222
	PROFIT AFTER TAX		2.053	4.704	4.632
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		11.925	7.221	2.589
	BALANCE CARRIED TO THE B/S		13.978	11.925	7.221
	Earnings Per Share (Rs.)		4.00	9.00

KEY RATIOS

PARTICULARS			31.03.2011	31.03.2010	31.03.2009
PAT / Total Income		(%)	0.55	0.75	0.76
Return on Total Assets (PBT/Total Assets}		(%)	5.20	8.34	8.03
Return on Investment (ROI) (PBT/Networth)			0.10	0.27	0.33
Debt Equity Ratio (Total Liability/Networth)			1.52	2.34	3.12
Current Ratio (Current Asset/Current Liability)			11.77	6.80	5.12
Low	Rs.

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	No
9) Name of person contacted	No
10) Designation of contact person	No
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	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
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

Bankers Charges Report as per Registry

Corporate identity number of the company	U51909PN2007PTC130739
Name of the company	CHAMPION DEALERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1st Floor, Vandan, 47/5, Erandvane, Paud Road, Pune – 411038, Maharashtra, India agindi@vsnl.com
This form is for	Creation of charge
Type of charge	· Book debts · Floating charge
Particular of charge holder	The Cosmos Co-Operative Bank Limited, (Deccan Gymkhana Branch), 269/270,Shaniwar Peth,, Pune - 411030, Maharashtra, India mandevazecs@vsnl.net
Nature of instrument creating charge	Hypothecation Of Tangible Goods/ Movable Property To Secure A Demand Cash Credit Account/ Demand Overdraft Account/ Demand Loan Account Dated 17^Th November, 2011
Date of instrument Creating the charge	17.11.2011
Amount secured by the charge	Rs.10.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Additional Cash Credit (Rs.2.500 Millions): Presently 14.50 % + 3% = 17.50% P. A Additional Bills Discounting (Rs.7.500 Millions): Presently 14.50 % + 3% = 17.50% P. A Terms of Repayment Additional Cash Credit (Rs.2.500 Millions): 60 Days Additional Bills Discounting (Rs.7.500 Millions): 60 Days Margin Additional Cash Credit (Rs.2.500 Millions): 40 % In Banks Favour Additional Bills Discounting (Rs.7.500 Millions): 40 % In Banks Favour Extent and Operation of the charge The Charge Shall Continue To Operate Till Full Repayment Of The Facilities Enjoyed By The Company Others Facilities: Additional Cash Credit Limit Of Rs.2.500 Millions and Additional Bills Discounting Limit Of Rs.7.500 Millions Thereby Making Total Facility of Rs.10.000 Millions For Purpose Of Working Capital
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Stock and Debtors of The Company

Fixed Assets

· Furniture

· Commercial Vehicle

· Four Wheelers

· Two Wheelers

· Office Equipment

· Computer and Printer

· U.P.S.

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.57.07
UK Pound	1	Rs.88.96
Euro	1	Rs.71.40

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--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	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		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.