MIRA INFORM REPORT

Report Date :

05.03.2012

IDENTIFICATION DETAILS

Name :	HITECH LITHO PRIVATE LIMITED
Registered Office :	Plot No. 3/3, GIDC, Near Nargol Char Rasta Sarigam, Gujarat-396155, India.
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.01.2011
Com. Reg. No.:	04-063859
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U24223GJ2011PTC063859
TAN No.: [Tax Deduction & Collection Account No.]	SRTH2203F
PAN No.: [Permanent Account No.]	AACCH5805M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Trader, Importer of all Sorts of printing Inks and Resins.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Maximum Credit Limit :	USD 340
Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a relatively new company and yet to commence its commercial operations Payments are unknown. The company can be considered for business dealings on a safe and secured 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

LOCATIONS

Registered Office :	Plot No. 3/3, GIDC, Near Nargol Char Rasta Sarigam-396155, Gujarat, India.
E-Mail :	hitechcoating@gmail.com gbladdha@gmail.com
Tel. No :	Not Available
Fax No :	Not Available

DIRECTORS

As on 24.09.2011

Name :

Mr. Manishkumar Bansnarayan Ray

Designation :

Director

Address :

At Po. Sarigam, Ta Umbergam, Distt. Valsad, Sarigam – 396171

Date of Birth/Age :

20.05.1983

Date of Appointment :

02.06.2011

DIN No.:

03512320

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24223GJ2011PTC063859	HITECH LITHO PRIVATE LIMITED	Director	2/6/2011	2/6/2011	-	Active	NO
2	U24100GJ2011PTC066667	HITECH COATINGS PRIVATE LIMITED	Director	8/8/2011	8/8/2011	-	Active	NO

Name :

Mr. Birendrakant Gyanprakash Srivastava

Designation :

Director

Address :

Ec-94, C-003, Krishna Vandan Co. Op. Hsg. Soc., Evershine City, Vasai East, Thane, Mumbai – 401205

Date of Birth/Age :

02.01.1973

Date of Appointment :

02.06.2011

DIN No.:

02609627

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24223GJ2009PTC056593	CYTECH COATINGS PRIVATE LIMITED	Director	13/04/2009	13/04/2009	-	Active	NO
2	U24233MH2011PTC212434	ACR COATINGS PRIVATE LIMITED	Director	28/02/2011	28/02/2011	3/7/2011	Active	NO
3	U24223GJ2011PTC063859	HITECH LITHO PRIVATE LIMITED	Director	2/6/2011	2/6/2011	-	Active	NO
4	U24100GJ2011PTC066667	HITECH COATINGS PRIVATE LIMITED	Director	8/8/2011	8/8/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Birendrakant G Srivastava	7400
Manish B Ray	2600
Total	10000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Trader, Importer of all Sorts of printing Inks and Resins.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Dena Bank, rosy Empire building, Opp. Bhvsar Petrol Pump, Vapi Silvassa Road, Vapi -396191, Gujarat, India.

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)
Secured Loan	0.000
Total	0.000
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)
Cytech Coatings Private Limited	0.117
Nitu Srivastava	0.029
Total	0.146

Banking Relations :	--
Auditors :
Name :	G B Laddha and company Chartered Accountant
Address :	1-2, Sahara Market, 2^nd Floor, Silvassa Road, Vapi-396191, Gujarat, India.
Tel. No.:	91-260-3267788/ 6456677/ 6457788/ 6458899
Fax No.:	91-260-2425966
E-Mail :	gbladdha@gmail.com
PAN.:	AAEFG2280N
Related Party :	Cytech Coating Private Limited

CAPITAL STRUCTURE

As on 24.09.2011

Authorised Capital: Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital: Rs. 2.200 Million

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.016)
NETWORTH		0.084
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.146
TOTAL BORROWING		0.146
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.230
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.117
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.100
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		0.100
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.000
	Provisions	0.011
Total Current Liabilities		0.011
Net Current Assets		0.089
MISCELLANEOUS EXPENSES		0.024
TOTAL		0.230

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	0.000
		Other Income	0.000
		TOTAL	0.000
Less	EXPENSES
		Administrative Expenses	0.017
		TOTAL	0.017
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.017)
Less/ Add	DEPRECIATION/ AMORTISATION		0.000
	PROFIT BEFORE TAX		(0.017)
Less	TAX		0.000
	PROFIT AFTER TAX (G-I)		(0.017)
	Earnings Per Share (Rs.)		(1.67)

KEY RATIOS

PARTICULARS		31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	(17)
Return on Investment (ROI) (PBT/Networth)		(0.20)
Debt Equity Ratio (Total Liability/Networth)		1.87
Current Ratio (Current Asset/Current Liability)		9.09

LOCAL AGENCY FURTHER INFORMATION

Form 8:

Corporate identity number of the company	U24223GJ2011PTC063859
Name of the company	HITECH LITHO PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 3/3, GIDC, Near Nargol Char Rasta Sarigam, Gujarat-396155, India. Email- hitechcoating@gmail.com
This form is for	Creation of charge
Type of charge	· Immovable property · Any interest in immovable property · Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	Dena Bank, Rosy Empire Building, Opp. Bhvsar Petrol Pump, Vapi Silvassa Road, Vapi -396191, Gujarat, India. Email- vapi@denabank.co.in
Nature of instrument creating charge	Agreement of Hypothecation of Good, Book Debts and Other moveable assets to secure Multiple facilities Instrument relating to deposit of title deeds executed on 28/11/2011
Date of instrument Creating the charge	24.11.2011
Amount secured by the charge	Rs. 41.900 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Cash Credit against Stocks and Book Debts- 14% p.a (Base Rate+5.8%-0.5%) EPC-13 % p.a. (Base Rate+2.3%) Term Loan -14.5% p.a. (Base Rate+5.8%+TP-0.5%) Terms of repayment Cash Credit against Stocks and Book Debts- On Demand Term Loan-1- 60 EMI of Rs.0.066 Million with a moratorium of 6 months Term Loan-2- 60 EMI of Rs.0.125 Million with a moratorium of 6 months Margin Raw materials, Finished goods and Book Debts not older than 90 days- 25% Book Debts older than 91 days and less than 180 days- 50% Letters of Credit- DA-10 % , Extent and operation of the charge Cash credit against Stocks and Book Debts Rs.20.000 Million with sub limit of Rs.10.000 Million for EPC, FBP, FBD Term Loan 1 Rs.3.975 Millions and Term Loan 2- Rs.7.525 Million Total Rs.11.500 Million. Letters of Credit- Rs.10.000 million. Forward Contract Booking Limit- Rs.0.400 millions (2% of 20.000 Million) Aggregating Rs.41.900 million.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of Stock of raw materials, semi finished goods, finished goods, stores, spares, packing materials used for manufacturing and all Book Debts not exceeding 180 days. Mortgage of all the Buildings and Hypothecation of all present and Future plant and Machineries to be constructed, Procured.

FINANCIAL RESULT:

The company will start the operation in near future, and no transaction is held during the year.

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.49.35
UK Pound	1	Rs.78.68
Euro	1	Rs.65.62

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.