MIRA INFORM REPORT

Report Date :

24.03.2012

IDENTIFICATION DETAILS

Name :	GETECH EQUIPMENTS INTERNATIONAL PRIVATE LIMITED
Registered Office :	Plot No 194/3 And 4, IDA Phase II, Cherlapally Road HCL Post, Hyderabad-500051, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011 (Unaudited)
Date of Incorporation :	03.01.2011
Com. Reg. No.:	072000
Capital Investment / Paid-up Capital :	Rs.5.000 Millions
CIN No.: [Company Identification No.]	U29253AP2011PTC072000
IEC No.:	0906005701
TAN No.: [Tax Deduction & Collection Account No.]	HYDG10343E
PAN No.: [Permanent Account No.]	AAECG1167F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Water Well Drilling Rigs And Hand Pumps.
No. of Employees :	95 (In Office 25, In Factory 70) (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	--
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject has been taken over the running business of Getech Equipments International, Partnership Concern. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business 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. Damodar
Designation :	HR Department
Date :	01.03.2012

LOCATIONS

Registered Office/ Factory :	Plot No 194/3 And 4, IDA Phase II, Cherlapally Road HCL Post, Hyderabad-500051, Andhra Pradesh, India
Tel. No.:	91-40-27266700
Mobile No.:	91-9391669448 (Mrs. V Geeta Nair)
Fax No.:	91-40-27261332
E-Mail :	rscs72@gmail.com getechindustries@gmail.com getechexport@gmal.com
Website :	www.getechindia.com
Location :	Rented

DIRECTORS

AS ON 31.03.2011

Name :	Mrs. Geetha V Nair
Designation :	Director
Address :	R/9 Plot No. 25, Radha Regal Rows, Opp Ramakrishna Talent School, Kantiguda, Yapral-500, India
Date of Birth/Age :	28.05.1966
Qualification :	MBA
Experience :	18 Years

Directorship in Other Companies:

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	U29190AP2010PTC071706	GETECH EQUIPMENTS INDIA PRIVATE LIMITED	Director	15/12/2010	15/12/2010	-	Active	NO
2	U29253AP2011PTC072000	GETECH EQUIPMENTS INTERNATIONAL PRIVATE LIMITED	Director	03/01/2011	03/01/2011	-	Active	NO

Name :	Mr. Vijaya Kumaran Nair Kandathil Parameswaran Nair
Designation :	Director
Address :	Plot No 25, Radha Regal Rows, Kantiguda, Opp Kalyan Garden, Yapral, Rangareddy-500087, Andhra Pradesh, India
Date of Birth/Age :	10.10.1957
Qualification :	BE
Experience :	25 Years

Directorship in Other Companies :

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	U29190AP2010PTC071706	GETECH EQUIPMENTS INDIA PRIVATE LIMITED	Director	15/12/2010	15/12/2010	-	Active	NO
2	U29253AP2011PTC072000	GETECH EQUIPMENTS INTERNATIONAL PRIVATE LIMITED	Director	03/01/2011	03/01/2011	-	Active	NO
3	U63090AP2012PTC078977	GEO SHIPPING AND LOGISTICS (INDIA) PRIVATE LIMITED	Director	06/02/2012	06/02/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Damodar
Designation :	HR Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2011

Names of Shareholders	No. of Shares
K D V Nair	16000
K Kaxma Reddy	16000
Geetha V Nair	448000
Amitha	5000
K Bhasi Pillai	5000
K Biksi	5000
K Rajeswari	5000
Total	500000

BUSINESS DETAILS

Line of Business :	Manufacturer of Water Well Drilling Rigs And Hand Pumps.
Terms :
Selling :	Credit
Purchasing :	Credit

GENERAL INFORMATION

Customers :	Others
No. of Employees :	95 (In Office 25, In Factory 70) (Approximately)
Bankers :	HDFC Bank, HDFC House, Senapati Bapat Marg, Lower Parel (W), Mumbai-400013, Maharashtra, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Mr. T P Rao And Company Chartered Accountant
Address :	Plot No. 32, Flat No. 114, HUDA Complex, Saroornagar, Hyderabad-35
Associates/Subsidiaries :	NIL

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET (SUMMARIZED FIGURES)

SOURCES OF FUNDS		31.03.2011 (Unaudited)
SHAREHOLDERS FUNDS
Share Capital		5.000
Reserves & Surplus		1.779
LOAN FUNDS
1] Secured Loans		30.179
2] Unsecured Loans		10.650
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.231
INVESTMENT		10.959
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	70.951
	Cash & Bank Balances	(0.002)
	Other Current Assets	0.929
	Loans & Advances	0.000

PROFIT & LOSS ACCOUNT (SUMMARIZED FIGURES)

	PARTICULARS		31.03.2011 (Unaudited)
	SALES
		Income	81.863
		Other Income	0.003
Less	EXPENSES
		Cost of Goods	1.820
		Administrative And Manufacturing Expenses	73.842
		Other Expenses	4.424
	PROFIT BEFORE TAX		1.780
Less	TAX		1.271
	PROFIT AFTER TAX		0.509

LOCAL AGENCY FURTHER INFORMATION

Trade References:

· LSP Constructions Private Limited

· Al-Own

· Lydam Ventures Limited

· Solarman Company Limited

Form 8

This form is for	Modification of charge
Charge identification number of the modified	10282582
Corporate identity number of the company	U29253AP2011PTC072000
Name of the company	Getech Equipments International Private Limited
Address of the registered office or of the principal place of business in India of the company	Plot No 194/3 and 4, Ida, Phase Ii, Cherlapally Road, Hcl Post, Hyderabad-500051, Andhra Pradesh, India
Type of charge	Book Debts Movable Property Floating Charge Immovable Property
Particular of charge holder	HDFC Bank, HDFC House, Senapati Bapat Marg, Lower Parel (W), Mumbai-400013, Maharashtra, India
Nature of description of the instrument creating or modifying the charge	a) Supplementary Letter of Hypothecation. b) Memorandum Recording past transaction of creation of mortgage by delivery of title deeds. (Collectively constitute a single charge for Rs.40.000 millions).
Date of instrument Creating the charge	28.09.2011
Amount secured by the charge	Rs.40.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment Working capital facility shall be payable on demand. Term loan facility shall be repayable in suitable installments. Margin As may be stipulated by the Bank from time to time. Extent and Operation of the charge (a) Hypo by way of Charge on Company's Stock, Book Debts and Plant and Machinery and vehicles etc., to secure as a continuing security (b) The Company created an equitable mortgage by way of deposit of title deeds in respect of its immovable properties as security for the due repayment of Rs.40.000 millions, including principal amount of the Facility, interest, liquidated damages, costs, charges and expenses etc. Others NIL
Short particulars of the property charged	Stock in Trade, consisting of raw materials, goods in process of manufacturing finished goods, and other merchandise whatsoever being movable properties All the debts, that is, all the book debts, out standings, monies receivables, claims, bills, invoice documents, contracts, guarantees, and rights which are now The movable plant and machinery and vehicles, which may now or at any time hereafter belong to the Borrower or come to the Borrower's disposal R.C.C. Building, 1402 sft, Plot No. 200/12, in Syno. 254 (P) and 256 (P) admeasuring 1487.36 Sq yds, Phase - II, IDA, Cherlapally, Ghatkesar, Mandal APLLC - IALA Cherlapally, R.R. Dist.

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.50.90
UK Pound	1	Rs.80.77
Euro	1	Rs.67.40

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	3
--CREDIT LINES	1~10	2
--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		28

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.