MIRA INFORM REPORT

Report Date :

30.03.2012

IDENTIFICATION DETAILS

Name :	WEYENBERG RESOURCES (INDIA) PRIVATE LIMITED
Registered Office :	3, Satyam, 318, Linking Road, Khar (West), Mumbai – 400052, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.07.2006
Com. Reg. No.:	11-163066
Capital Investment / Paid-up Capital :	Rs.0.489 Million
CIN No.: [Company Identification No.]	U51505MH2006PTC163066
TAN No.: [Tax Deduction & Collection Account No.]	MUMW03116B
PAN No.: [Permanent Account No.]	AAACW6470F
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, Dealer and Distributor of Material Handling Machinery Parts and Components
No. of Employees :	6 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 32000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The company is progressing well. 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.

INFORMATION PARTED BY

Name :	Mrs. Pooja Gandhi
Designation :	Director
Contact No.:	91-9820041678
Date :	29.03.2012

LOCATIONS

Registered Office :	3, Satyam, 318, Linking Road, Khar (West), Mumbai-400052, Maharashtra, India
Tel. No.:	91-22-26486194/ 26486220
Mobile No.:	91-9820041678 (Mrs. Pooja Gandhi)
Fax No.:	91-22-26484020
E-Mail :	pooja@weyenberg-group.com info_india@weyenberggroup.com ushachawla54@gmail.com
Website :	http://www.weyenberg-group.com
Area :	700 Sq. Ft.
Location :	Owned

DIRECTORS

(AS ON 30.09.2011)

Name :	Mr. Surendra Kumar Chawla
Designation :	Director
Address :	401, Maherdeep Apartments, Sarojini Road, Santacruz (West), Mumbai-400054, Maharashtra, India
Date of Birth/Age :	28.10.1947
Qualification:	Graduate
Date of Appointment :	12.07.2006
Date of Ceasing :	02.01.2012
DIN No.:	01504985
Name :	Mrs. Pooja Gandhi
Designation :	Director
Address :	4, Madhusagar, N.S Road No.l 13, J.VP.D Scheme, Mumbai – 400049, Maharashtra, India
Date of Birth/Age :	16.05.1978
Qualification:	Graduate
Date of Appointment :	12.07.2006
DIN No.:	01659811
Name :	Ms. Prerna Chawla
Designation :	Director
Address :	401, Maherdeep Apartments, Sarojini Road, Santacruz (West), Mumbai-400054, Maharashtra, India
Date of Birth/Age :	09.03.1983
Qualification:	Post Graduate
Date of Appointment :	12.07.2006
DIN No.:	01659763
Name :	Mrs. Usha Chawla
Designation :	Director
Address :	Satyam Linking Road, Khar, Mumbai – 400052, Maharashtra, India
Date of Birth/Age :	31.01.1954
Qualification:	05165747
Date of Appointment :	02.01.2012
DIN No.:	05165747

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Preference Shares	No. of Equity Shares
Surendra Chawla	0	2600
Pooja Gandhi	0	1500
Prerna Chawla	0	5900
Weyenberg International Holdings Limited, China	38885	0
Total	38885	10000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Dealer and Distributor of Material Handling Machinery Parts and Components.
Agencies Held :	· Diepa Wires, Germany · Prysmian Cables, Germany · Brosa Loadcell, Germany · Hartmann and Kanigg, Germany
Imports :
Products :	· Material Handling Machinery · Cranes
Countries :	Germany
Terms :
Selling :	Cash and Credit (30-60 days)
Purchasing :	L/C, Cash and Credit (30-60 days)

GENERAL INFORMATION

Customers :	Wholesalers, Retailers and End Users
No. of Employees :	6 (Approximately)
Bankers :	· HSBC Bank, Andheri Branch, Mumbai, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Banshi Jain and Associates Chartered Accountant
Address :	404/405, Imperial Plaza, Dr. K B Hedgewsar Marg, Opposite Amarsons, Off Linking Road, Bandra (East), Mumbai-400050, Maharashtra, India
Tel. No.:	91-22-26511213/ 26511215
Fax No.:	91-22-26511197
E-Mail :	bjaa@rediffmail.com bhaacall@gmail.com
PAN.:	AABFB0619B

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million
150000	0% Redeemable Cumulative Non Convertible Preference Shares	Rs.10/- each	Rs.1.500 Millions
	Total		Rs.2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million
38885	0% Redeemable Cumulative Non Convertible Preference Shares	Rs.10/- each	Rs.0.389 Million
	Total		Rs.0.489 Million

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		0.489	0.489	0.489
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		7.708	0.000	0.000
4] (Accumulated Losses)		0.000	(0.876)	(1.546)
NETWORTH		8.197	(0.387)	(1.057)
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.036	0.000	0.000
TOTAL		8.233	(0.387)	(1.057)
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.734	1.148	0.171
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.092	29.240	6.201
DEFERREX TAX ASSETS		0.000	0.576	0.716
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	5.048	0.471
	Cash & Bank Balances	7.054	5.291	1.742
	Other Current Assets	0.038	0.015	0.015
	Loans & Advances	4.035	357.873	99.594
Total Current Assets		11.127	368.227	101.822
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor		3.892	0.105
	Other Current Liabilities	5.720	395.640	109.916
	Provisions		0.091	0.036
Total Current Liabilities		5.720	399.623	110.057
Net Current Assets		5.407	(31.396)	(8.235)
MISCELLANEOUS EXPENSES		0.000	0.045	0.090
TOTAL		8.233	(0.387)	(1.057)

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	NA	10.407	0.299
		Commission Income	NA	1.776	1.107
		Dividend Income	NA	0.497	0.250
		TOTAL	NA	12.680	1.656
Less	EXPENSES
		Purchases	NA	6.728	0.230
		Loss from Future and Options Transactions	NA	0.134	0.231
		Administrative Expenses	NA	4.908	3.156
		Preliminary Expenses written off	NA	0.045	0.045
		TOTAL	NA	11.815	3.662
	PROFIT BEFORE TAX		12.283	0.865	(2.006)
Less	TAX		3.698	0.195	(0.639)
	PROFIT AFTER TAX		8.585	0.670	(1.367)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		--	(1.546)	(0.179)
	BALANCE CARRIED TO THE B/S		--	(0.876)	(1.546)
	Earnings Per Share (Rs.)		858.50	--	--

Expected Sales (2011-12): Rs.550.000 Millions

The above information has been parted by Mrs. Pooja

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	6.44	(82.55)
Net Profit Margin (PBT/Sales)	(%)	NA	8.31	(670.90)
Return on Total Assets (PBT/Total Assets}	(%)	0.96	0.23	[1.97]
Return on Investment (ROI) (PBT/Networth)		1.50	(2.23)	[1.90]
Debt Equity Ratio (Total Liability/Networth)		0.70	(1032.62)	[104.12]
Current Ratio (Current Asset/Current Liability)		1.95	0.92	0.93

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011	31.03.2010	31.03.2009
	(Rs. In Millions)
Sundry Creditors	Not Available	3. 893	0.105
Total	Not Available	3. 893	0.105

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	-----
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last two years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	Yes
Estimation for coming financial year	Yes
Capital in the business	No
Details of sister concerns	-----
Major Suppliers	No
Major Customers	No
Payments Terms
Export/ Imports Details (If applicable)	Yes
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	-----
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	No
Incorporation details is applicable	-----
Last Accounts filed at ROC	-----
Major Shareholders, if available	-----

OPERATIONS:

The fifth year of the operation of the company, the performance for the year has been satisfactory. The profitability for the year is Rs.8.584 Millions as against at Rs.0.670 Millions for the last 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 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.51.15
UK Pound	1	Rs.81.41
Euro	1	Rs.68.22

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	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		44

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.