MIRA INFORM REPORT

Report Date :

22.03.2012

IDENTIFICATION DETAILS

Name :	MEEN BEEN ELASTOMERS PRIVATE LIMITED (w.e.f. 15.02.2011)
Formerly Known As :	S.R.I AMTEL VENTURES PRIVATE LIMITED
Registered Office :	56/58, Garibdas Street, Dadajee Dhakjee Building, 1^st Floor, Mumbai – 400 003, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	21.10.2003
Com. Reg. No.:	11-142798
Capital Investment / Paid-up Capital :	Rs.16.662 Millions
CIN No.: [Company Identification No.]	U51490MH2003PTC142798
TAN No.: [Tax Deduction & Collection Account No.]	MUMM22219B
PAN No.: [Permanent Account No.]	AADCM7401K
Legal Form :	Private Limited Liability Company
Line of Business :	Importers, Indentors, Distributors, Dealers and Representatives of Synthetic Rubber, Rubber Chemicals and Bonding Agents and Allied Products.
No. of Employees :	64 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 400000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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

LOCATIONS

Registered Office :	56/58, Garibdas Street, Dadajee Dhakjee Building, 1^st Floor, Mumbai – 400 003, Maharashtra, India
Tel. No.:	91-22-23413874 / 23447929 / 23433082 / 26254106 / 26254107 / 26209715
Mobile No.:	91-9821044959 / 9867344959 / 9821083188 (Mr. Surendra Sukanraj Parekh)
Fax No.:	91-22-23410496 / 26254108
E-Mail :	susaco@vsnl.com ravindra@sriimpex.com account@sriimpex.com
Website :	http://www.parekhgroup.com
Area :	560 Sq. ft
Location :	Owned
Corporate Office :	101/102, Radhaka Building, 1^st Floor, 55, Gulmohar Road, JVPD Scheme, Vile Parle (W), India-400056, Maharashtra, India
Tel. No.:	91-22-61219999
Fax No.:	91-22-61219988
E-Mail :	info@sriimpex.com
Area :	http://www.sriimpex.com
Branch Office :	Located at Gurgaon Kolkata Bangalore

DIRECTORS

As on 30.09.2010

Name :

Mr. Ravindra Sukanraj Parekh

Designation :

Director

Address :

Parichay, Ground Floor, 5^th Road, JVPD Scheme, Vile Parle (West) Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

13.08.1964

Qualification :

B. Com. MBA

Date of Appointment :

21.10.2003

DIN No.:

00374612

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	U51909MH1997PTC111715	S R I IMPEX PRIVATE LIMITED	Director	5/11/1997	5/11/1997	-	Active	NO
2	U25110MH1997PTC111951	SURENDRA ELASTOMERS PRIVATE LIMITED	Director	18/11/1997	18/11/1997	-	Active	NO
3	U51490MH2003PTC142798	MEEN BEEN ELASTOMERS PRIVATE LIMITED	Director	21/10/2003	21/10/2003	-	Active	NO
4	U74990MH1995PTC087989	MATUNGA SAFE DEPOSIT VAULTS PRIVATE LIMITED	Director	27/09/2007	2/10/2006	-	Active	NO
5	U25203MH2011PTC212456	S.R.I MARBO INDIA PRIVATE LIMITED	Director	18/01/2011	18/01/2011	-	Active	NO
6	U25203MH2011PTC212701	S.R.I GOTEC INDIA PRIVATE LIMITED	Director	25/01/2011	25/01/2011	-	Active	NO
7	U25190MH2012PTC226224	VIR ELASTOMERS AND TECHNOLOGIES PRIVATE LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO

Name :

Mr. Surendra Sukanraj Parekh

Designation :

Director

Address :

Parichay, Ground Floor, 5^th Road, JVPD Scheme, Vile Parle (West) Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

08.12.1967

Qualification :

MBA

Date of Appointment :

21.10.2003

DIN No.:

00374751

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	U51909MH1997PTC111715	S R I IMPEX PRIVATE LIMITED	Director	5/11/1997	5/11/1997	-	Active	NO
2	U25110MH1997PTC111951	SURENDRA ELASTOMERS PRIVATE LIMITED	Director	18/11/1997	18/11/1997	-	Active	NO
3	U51490MH2003PTC142798	MEEN BEEN ELASTOMERS PRIVATE LIMITED	Director	21/10/2003	21/10/2003	-	Active	NO
4	U74990MH1995PTC087989	MATUNGA SAFE DEPOSIT VAULTS PRIVATE LIMITED	Director	27/09/2007	2/10/2006	-	Active	NO
5	U25203MH2011PTC212456	S.R.I MARBO INDIA PRIVATE LIMITED	Director	18/01/2011	18/01/2011	-	Active	NO
6	U25203MH2011PTC212701	S.R.I GOTEC INDIA PRIVATE LIMITED	Director	25/01/2011	25/01/2011	-	Active	NO

Name :

Ms. Indra Sukanraj Parekh

Designation :

Director

Address :

Parichay, Ground Floor, 5^th Road, JVPD Scheme, Vile Parle (West) Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

07.03.1965

Qualification :

Rubber Technical

Date of Appointment :

21.10.2003

DIN No.:

00374796

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	U51909MH1997PTC111715	S R I IMPEX PRIVATE LIMITED	Director	5/11/1997	5/11/1997	-	Active	NO
2	U25110MH1997PTC111951	SURENDRA ELASTOMERS PRIVATE LIMITED	Director	18/11/1997	18/11/1997	-	Active	NO
3	U51490MH2003PTC142798	MEEN BEEN ELASTOMERS PRIVATE LIMITED	Director	21/10/2003	21/10/2003	-	Active	NO
4	U74990MH1995PTC087989	MATUNGA SAFE DEPOSIT VAULTS PRIVATE LIMITED	Director	27/09/2007	2/10/2006	-	Active	NO
5	U25203MH2011PTC212456	S.R.I MARBO INDIA PRIVATE LIMITED	Director	18/01/2011	18/01/2011	-	Active	NO
6	U25203MH2011PTC212701	S.R.I GOTEC INDIA PRIVATE LIMITED	Director	25/01/2011	25/01/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Ravindra Sukanraj Parekh	555407
Surendra Sukanraj Parekh	554526
Indra Sukanraj Parekh	556287
Total	1666220

As on 30.09.2010

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Other top fifty shareholders	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Importers, Indentors, Distributors, Dealers and Representatives of Synthetic Rubber, Rubber Chemicals and Bonding Agents and Allied Products.
Products :	Synthetic Rubber Rubber Chemicals

GENERAL INFORMATION

No. of Employees :

64 (Approximately)

Bankers :

Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2010	As on 31.03.2009
Yes Bank Limited	58.747	0.000
Total	58.747	0.000
Unsecured Loan	As on 31.03.2010	As on 31.03.2009
Form Director and Relatives	19.868	62.003
Total	19.868	62.003

Banking Relations :	--
Auditors :
Name :	Ashok Gemawat Chartered Accountants
Address :	206, Radhe Vallabh CHS Limited, Old Mody Chamber 2^nd Floor, French bridge, Opera Hous, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-23889573
Qualification :	B.Com, L.L.B., F.C.A.
PAN.:	AABPG8144L

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs.40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1666220	Equity Shares	Rs.10/- each	Rs.16.662 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		16.662	16.662	16.662
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		83.973	70.792	62.973
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		100.635	87.454	79.635
LOAN FUNDS
1] Secured Loans		58.747	0.000	26.243
2] Unsecured Loans		19.868	62.003	125.483
TOTAL BORROWING		78.615	62.003	151.726
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		179.250	149.457	231.361
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.931	4.513	4.899
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		3.991	0.755	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	75.386	55.009	108.560
	Sundry Debtors	303.343	177.580	211.534
	Cash & Bank Balances	4.036	10.863	15.118
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	19.917	13.318	14.041
Total Current Assets		402.682	256.770	349.253
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	224.683	104.416	110.277
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	11.686	8.181	12.533
Total Current Liabilities		236.369	112.597	122.810
Net Current Assets		166.313	144.173	226.443
MISCELLANEOUS EXPENSES		0.015	0.016	0.019
TOTAL		179.250	149.457	231.361

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
		Turnover	923.519	658.993	625.828
Less	EXPENSES
		Office Expenses	903.057
		Administrative Expenses		646.771	608.865
		Advertising Expenses
		TOTAL	903.057	646.771	608.865
	PROFIT BEFORE TAX		20.462	12.222	16.963
Less	TAX		7.282	4.402	6.181
	PROFIT AFTER TAX		13.180	7.820	10.782
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		56.508	48.688	37.906
	BALANCE CARRIED TO THE B/S		69.688	56.508	48.688
	TOTAL IMPORTS		385.655	234.390	209.806
	Earnings Per Share (Rs.)		7.91	2.13	6.47s

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	4.97	4.68	4.79
Return on Investment (ROI) (PBT/Networth)		0.20	0.14	0.21
Debt Equity Ratio (Total Liability/Networth)		3.13	2.00	3.45
Current Ratio (Current Asset/Current Liability)		1.70	2.28	2.84

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS

During the year the company has sales of Rs.923.519 Millions and net Profit after fax of Rs.13.180 Millions. The directors Have Continued the business activity and wish that business will picked up in coming year.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U51490MH2003PTC142798
Name of the company	MEEN BEEN ELASTOMERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	56/58, Garibdas Street, Dadajee Dhakjee Building, 1^st Floor, Mumbai – 400 003, Maharashtra, India accounts@sriimpex.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10186008
Type of charge	· Book debts · Movable property (not being pledge)
Particular of charge holder	Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India dlbbcadmum@yesbank.in
Nature of instrument creating charge	Supplemental Deed of Hypothecation
Date of instrument Creating the charge	31.12.2011
Amount secured by the charge	Rs.130.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Margin 25% Extent and operation of the charge Exclusive Charge on current asset of the Borrower to cover facilities as per annexure attached
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive Charge on current asset of the Borrower to cover facilities as per annexure attached
Date of instrument modifying the charge	18.04.2011
Particulars of the present modification	Existing exclusive charge on current asset of the Borrower extended to cover revised facilities as below given to subject LC: Rs.70 Millions (Enhanced from 50 Millions) BC (Sub limit of LC): Rs.70 Millions(Enhanced from 50 Millions) BG (Sub limit of LC): Rs.10 Millions (Existing Facility) CC: Rs.60 Millions (Existing Facility) LC Adhoc: Rs.20 Millions (Limit Cancelled) BC (Sub Limit of LC Adhoc): Rs.20 Millions (Limit Cancelled)

FIXED ASSETS:

Mumbai

· Air Conditioner

· Canon Copier

· Computer A/c.

· Fire Extinguishers

· Furniture and Fixtures

· Generator

· Inverter

· Land

· Motor Car

· Motor Car-Innove

· Mobile Phone

· Office Equipment

· Office premises

· Telephone Equipment

· Drum Trolley

· Fir Extinguisher

· Platform Truck

· Refrigerator

· Tea Machine

· Water Dispenser

· Weighing Machine

· Computer Printer

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.50.59
UK Pound	1	Rs.80.34
Euro	1	Rs.67.14

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
TOTAL		45

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.