MIRA INFORM REPORT

Report Date :

22.03.2012

IDENTIFICATION DETAILS

Name :	BHARATPURIA FINANCE AND INVESTMENTS LIMITED
Registered Office :	G-60, IInd Floor, Aruna Park, Shakarpur, New Delhi – 110092
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	30.09.1991
Com. Reg. No.:	55-045861
Capital Investment / Paid-up Capital :	Rs.48.289 Millions
CIN No.: [Company Identification No.]	L65993DL1991PLC045861
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchange.
Line of Business :	Non Banking Finance Company.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (16)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively small company having moderate track. There appears some accumulated losses recorded by the company. Profitability of the company is under pressure. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a 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 :	G-60, IInd Floor, Aruna Park, Shakarpur, New Delhi – 110092, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	deepakacs@rediffmail.com

DIRECTORS

(AS ON 28.09.2010)

Name :

Mr. Anand Gupta

Designation :

Director

Address :

G-60, IInd Floor, Aruna Park, Shakarpur, New Delhi – 110092, India

Date of Birth/Age :

01.07.1965

Date of Appointment :

12.01.2001

DIN No.:

00649032

Name :

Mr. Atul Mittal

Designation :

Additional Director

Address :

M-23, Mohan Garden, Main Najafgarh Road, New Delhi – 110005, India

Date of Birth/Age :

14.10.1985

Date of Appointment :

28.06.2010

DIN No.:

00059920

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	U74899DL1994PTC060132	PAWAR ESTATES PRIVATE LIMITED	Director	16-11-04	16-11-04	20-08-10	Active	NO
2	U70109RJ1997PTC013406	SIGMA FARMS PRIVATE LIMITED	Director	04-02-05	04-02-05	19-08-10	Active	NO
3	U25209PN1996PTC101291	MAHAVIR LAMINATION PRIVATE LIMITED	Director	30-09-06	30-08-05	07-03-09	Active	NO
4	U65921PB1992PTC012788	C H P FINANCE PVT LTD	Director	07-03-06	07-03-06	13-08-07	Active	NO
5	U27310DL2007PTC164309	SUMAN S S ROLLING MLLLS PRIVATE LIMTED	Director	04-06-07	04-06-07	20-03-09	Active	NO
6	U74140RJ1985PTC003291	SHREE MANAGEMENT SERVICES PRIVATE LIMITED	Additional director	10-01-08	10-01-08	-	Active	NO
7	U74899DL1995PTC066316	BHARTI PROPERTIES PRIVATE LIMITED	Director	25-04-08	25-04-08	-	Active	NO
8	U70101DL2009PTC186736	TAMANNA BUILDWELL PRIVATE LIMITED	Director	16-01-09	16-01-09	22-11-11	Active	NO
9	U51900MH1996PTC103842	GRAY LINK PRODUCT PRIVATE LIMITED	Director	30-09-09	15-04-09	-	Active	NO
10	U93000DL2009PTC193923	SAI INTERIOR SOLUTIONS PRIVATE LIMITED	Director	04-09-09	04-09-09	13-10-09	Active	NO
11	L65993DL1991PLC045861	BHARATPURIA FINANCE AND INVESTMENTS LIMITED	Additional director	28-06-10	28-06-10	-	Active	NO
12	U18109DL2011PTC225313	WHITE LINE APPARELS PRIVATE LIMITED	Director	21-09-11	21-09-11	-	Active	NO
13	U18109DL2011PTC225367	NAVTUL FABRICS PRIVATE LIMITED	Director	22-09-11	22-09-11	21-01-12	Active	NO
14	U93000HR2012PTC044954	PREEN SECURITIES PRIVATE LIMITED	Director	01-02-12	01-02-12	04-02-12	Active	NO
15	U93000HR2012PTC044953	PRISM SECURITIES PRIVATE LIMITED	Director	01-02-12	01-02-12	04-02-12	Active	NO
16	U93000HR2012PTC044952	Hibiscus Holdings Private Limited	Director	01-02-12	01-02-12	04-02-12	Active	NO
17	U93000HR2012PTC044972	LAVENDER HOLDINGS PRIVATE LIMITED	Director	02-02-12	02-02-12	13-02-12	Active	NO
18	U40300DL2007PTC164363	SWEN POWER VENTURES PRIVATE LIMITED	Additional director	27-02-12	27-02-12	-	Active	NO

Name :

Mr. Sunil Kumar Parmeshwaran Venkatesan

Designation :

Director

Address :

94 F, Pocket, IV Phase I, Mayur Vihar, Delhi – 110019, India

Date of Birth/Age :

01.05.1970

Date of Appointment :

20.03.2001

DIN No.:

03128459

Other Directorship :

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Company Status

Defaulting status

1

U67120DL1996PTC077851

GSR CRESECLEASE PRIVATE LIMITED

Director

15-02-01

15-02-01

Active

NO

2

U67120DL1996PTC077848

HARDEEP CREFINLEASE PRIVATE LIMITED

Director

15-02-01

15-02-01

Active

NO

3

L65993DL1991PLC045861

BHARATPURIA FINANCE AND INVESTMENTS LIMITED

Director

20-03-01

20-03-01

Active

NO

4

U74899DL1995PTC070345

KAFILA INDIA PRIVATE LIMITED

Director

29-09-01

29-09-01

Active

NO

5

U65929DL1997PTC087160

SERVEWELL FINCAP PRIVATE LIMITED

Director

01-11-01

01-11-01

Active

NO

6

U74899DL1995PTC067865

APD INVESTMENTS PRIVATE LIMITED

Director

08-01-03

08-01-03

Active

NO

Name :

Mr. Vijay Kumar Jain

Designation :

Director

Address :

Front Row House, H No.4, Grand Parady Apartments August Kranti marg, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

09.10.1948

Date of Appointment :

11.10.2009

Name :

Mr. Ravi Saini

Designation :

Additional Director

Address :

MD-65, First Floor, Pitam Pura, New Delhi – 110088, India

Date of Birth/Age :

05.05.1963

Date of Appointment :

28.06.2010

DIN No.:

01926733

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL1995PLC070705	CHRISTIAN DIOR FINANCIAL SERVICES LIMITED	Director	30-09-08	10-03-08	Active	NO
2	U74899DL1992PLC050337	WE POWER INNOVATION LIMITED	Director	09-12-08	09-12-08	Active	NO
3	L65993DL1991PLC045861	BHARATPURIA FINANCE AND INVESTMENTS LIMITED	Additional director	28-06-10	28-06-10	Active	NO
4	U34300DL1959PLC003035	FREEWHEELS ( INDIA) LIMITED	Additional director	18-10-10	18-10-10	Active	NO
5	U25201DL1987PLC028210	SUPER FIBRES LIMITED	Additional director	18-10-10	18-10-10	Active	NO
6	U17123WB1964PLC026131	REXOR INDIA LTD	Additional director	18-10-10	18-10-10	Active	NO
7	U31103DL2006PTC144336	ULTRA MOTOR INDIA PRIVATE LIMITED	Director	16-06-11	16-06-11	Active	NO
8	U40101PB2011PTC035248	MILTON ENERGY AND INFRA PRIVATE LIMITED	Director	06-07-11	06-07-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 28.09.2010)

Names of Shareholders	No. of Shares
APD Investment (Private) Limited	270000
Nitin Kr. Didwani	8250
Hawk Fincap and Lease P	125000
Shikha Chawla	500
A A A Securities (P)	800
Aashu Gupta	1000
Abhilash Chama	500
Adaresh Kumar Agarwal	1000
Adarash Rawat	1000

(AS ON 30.09.2010)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	68.25
Others	31.75
Total	100.00

BUSINESS DETAILS

Line of Business :

Non Banking Finance Company.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· UCO Bank

Facilities :

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Hawk Fincap and Lease Private Limited	0.058	0.058
G.S.R. Creslease Private Limited	0.921	0.921
Hardeep Crefinlease Private Limited	0.600	0.860
APD Investment Private Limited	0.570	0.270
Jai Bhikshu Credit Holding Limited	1.550	1.550
Vindhyachal Securities Limited	1.500	1.500
Total	5.199	5.159

Banking Relations :	--
Auditors :
Name :	Gupta and Rakesh Associates Chartered Accountant
Address :	H – 108, IInd Floor, New Asiatic Building, Connaught Place, New Delhi – 110001, India
Tel No.:	91-11-41513570
Fax No.:	91-11-41513570
Email :	info@gracafirm.com
Website :	http://www.gracafirm.com
PAN No.:	AAVPG4818R

CAPITAL STRUCTURE

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
5500000	Equity Shares	Rs.10/- each	Rs.55.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions
3100000	Equity Shares	Rs.10/- each	Rs.31.000 Millions
	Less: Shares Forfeited		Rs.2.711 Millions
			Rs.28.289 Millions
	Total		Rs.48.289 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		48.289	48.289	48.289
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.006	0.006	0.006
4] (Accumulated Losses)		(5.060)	(4.814)	(4.547)
NETWORTH		43.235	43.481	43.748
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		5.199	5.159	5.159
TOTAL BORROWING		5.199	5.159	5.159
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		48.434	48.640	48.907
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.140	0.978	1.412
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		9.276	9.510	9.510
DEFERREX TAX ASSETS		0.135	0.135	0.135
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.502	0.130	0.494
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	39.664	40.164	39.624
Total Current Assets		40.166	40.294	40.118
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor
	Other Current Liabilities	2.283	2.277	2.268
	Provisions
Total Current Liabilities		2.283	2.277	2.268
Net Current Assets		37.883	38.017	37.850
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		48.434	48.640	48.907

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Professional Feed Received	0.000	0.000	0.000
		Profit on Sale of Shares	0.084	0.000	0.226
		TOTAL	0.084	0.000	0.226
Less	EXPENSES
		Administrative Expenses	0.329	0.267	0.224
		TOTAL	0.329	0.267	0.224
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.245)	(0.267)	0.002
Less	FINANCIAL EXPENSES		0.001	0.000	0.004
	PROFIT BEFORE TAX		(0.246)	(0.267)	(0.002)
Less	TAX		0.000	0.000	0.000
	PROFIT AFTER TAX		(0.246)	(0.267)	(0.002)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(4.814)	(4.547)	(4.545)
	BALANCE CARRIED TO THE B/S		(5.060)	(4.814)	(4.547)
	Earnings Per Share (Rs.)		0.05	0.05	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(292.86)	0.00	(0.88)
Return on Total Assets (PBT/Total Assets}	(%)	(0.60)	(0.65)	0.00
Return on Investment (ROI) (PBT/Networth)		(0.01)	(0.01)	0.00
Debt Equity Ratio (Total Liability/Networth)		0.17	0.17	0.17
Current Ratio (Current Asset/Current Liability)		17.59	17.70	17.69

LOCAL AGENCY FURTHER INFORMATION

REVIEW OF OPERATIONS

During the financial year ended on 31.03.2010 the Company has incurred a loss of Rs.0.246 Million in comparison to last year Rs.0.267 Million. The loss has been decreased in the current year.

FUTURE OUTLOOK

In the current financial year the company could not do much main business operations.

The Company do hope in the current financial year to do better in its main stream of business.

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.50.25
UK Pound	1	Rs.79.76
Euro	1	Rs.66.52

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	1
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		16

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.