MIRA INFORM REPORT

Report Date :

02.05.2012

IDENTIFICATION DETAILS

Name :	PEEKAY DEALER PRIVATE LIMITED
Registered Office :	506, Lords, 7/ 1, Lords Sinha Road, Kolkata – 700 071, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	02.07.2001
Com. Reg. No.:	21-093394
Capital Investment / Paid-up Capital :	Rs.1.284 Millions
CIN No.: [Company Identification No.]	U51909WB2001PTC093394
TAN No.: [Tax Deduction & Collection Account No.]	CALP04232E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of PVC Pipes and Fittings and Accessories.
No. of Employees :	Not Available

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 102000
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 :	506, Lords, 7/ 1, Lords Sinha Road, Kolkata – 700 071, West Bengal, India
Mobile No.:	91-33-22823049/ 6730/ 6489/ 40152010/ 22829485
Fax No.:	91-33-22826727
E-Mail :	bharat@vsnl.in
Website :	http://www.peekay.co.in

DIRECTORS

As on 29.09.2011

Name :

Mr. Pawan Kumar Goenka

Designation :

Director

Address :

10/1, Alipore Park Place, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

02.11.1958

Date of Appointment :

02.07.2001

DIN No.:

00657484

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	U51420WB1981PTC033997	PEEKAY AGENCIES PRIVATE LIMITED	Director	20-08-81	20-08-81	Active	NO
2	U74999WB1994PTC064103	G. P. DEALERS PRIVATE LIMITED	Director	25-07-94	25-07-94	Active	NO
3	U51909WB2001PTC093394	PEEKAY DEALER PRIVATE LIMITED	Director	02-07-01	02-07-01	Active	NO
4	U17232WB1969PTC027610	MARUT JUTE UDYOG PRIVATE LIMITED	Director	30-03-05	30-03-05	Active	NO
5	U65999WB1985PLC039485	SUPRIYA FINANCE LIMITED	Director	17-12-07	17-12-07	Amalgamated	NO

Name :

Mr. Anant Goenka

Designation :

Director

Address :

98, Lord Sinha Road, Lords 506, Kolkata-700071, West Bengal, India

Date of Birth/Age :

29.12.1981

Date of Appointment :

02.07.2001

DIN No.:

00657505

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	U51909WB2001PTC093394	PEEKAY DEALER PRIVATE LIMITED	Director	02-07-01	02-07-01	Active	NO
2	U74140WB1994PTC061693	MARYADA ADVISORY SERVICES PRIVATE LIMITED	Director	01-01-07	01-01-07	Active	NO
3	U51420WB1981PTC033997	PEEKAY AGENCIES PRIVATE LIMITED	Director	22-11-07	22-11-07	Active	NO
4	U24116WB1988PTC044861	MULTI CHEMICAL INDUSTRIES PRIVATE LIMITED	Director	13-12-07	13-12-07	Active	NO
5	U51109WB2007PTC120563	ARHAM VYAPAAR PRIVATE LIMITED	Director	02-03-11	02-03-11	Active	NO

Name :

Mr. Raghav Goenka

Designation :

Additional Director

Address :

98, Lord Sinha Road, Lords 506, Kolkata-700071, West Bengal, India

Date of Birth/Age :

10.11.1987

Date of Appointment :

03.08.2011

DIN No.:

03563881

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	U24116WB1988PTC044861	MULTI CHEMICAL INDUSTRIES PRIVATE LIMITED	Director	12-07-11	12-07-11	Active	NO
2	U51420WB1981PTC033997	PEEKAY AGENCIES PRIVATE LIMITED	Director	12-07-11	12-07-11	Active	NO
3	U51909WB2001PTC093394	PEEKAY DEALER PRIVATE LIMITED	Additional director	03-08-11	03-08-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Pawan Kumar Goenka	40100
Anant Goenka	27600
Kusum Goenka	30000
Kripa Goenka	18000
Raghav Goenka	12600
Sushil Kumar Jhunjhunwala	100
Total	128400

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of PVC Pipes and Fittings and Accessories.

GENERAL INFORMATION

Suppliers :

• Ashapura Minechem Limited
• Evonik Dugasa
• Pidilite Industries Limited
• Prayon SA
• Jay Maa Clearing and Forwarding Agency
• Kiran Transport Private Limited
• Shree Forwarding and Clearing Agents

No. of Employees :

Not Available

Bankers :

• Axis Bank Limited
• Bank of Baroda, Camac Street Branch, 3B, Camac Street, Kolkata – 700 016, West Bengal, India
• ICICI Bank Limited, Chouranghee Branch
• United Bank of India
• Bank of Baroda

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Bank of Baroda	9.576	0.000
Total	9.576	0.000
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Latika Financers Private Limited	0.027	0.027
Ambition Merchant Private Limited	3.649	1.108
Bhawna Computers Private Limited	0.000	1.217
Bluejay Airlines Private Limited	7.149	0.000
Suyesh Villa Private Limited	5.467	0.000
Trinetra Capital Services Private Limited	1.101	0.000
Electronics India Private Limited	0.000	1.097
Total	17.393	3.449

Banking Relations :	--
Auditors :
Name :	Shambhu Kedia and Company Chartered Accountants
Address :	1B, Black Burn Lane, 4^th Floor, Kolkata - 700 012, West Bengal, India
PAN.:	AFYPH0065Q
Related Parties :	Peekay Agencies Private Limited Bharat Mercantile Corporation

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
128400	Equity Shares	Rs.10/- each	Rs.1.284 Millions

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		1.284	1.284	1.284
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		24.264	18.395	13.923
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		25.548	19.679	15.207
LOAN FUNDS
1] Secured Loans		9.576	0.000	0.000
2] Unsecured Loans		17.393	3.449	2.379
TOTAL BORROWING		26.969	3.449	2.379
DEFERRED TAX LIABILITIES		0.143	0.000	0.000
TOTAL		52.660	23.128	17.586
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.313	3.310	3.300
Capital work-in-progress		0.000	6.586	5.228
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.041	0.041
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	20.082	5.507	1.755
	Sundry Debtors	32.435	10.362	8.162
	Cash & Bank Balances	0.519	0.102	1.118
	Other Current Assets	2.866	1.950	1.750
	Loans & Advances	13.716	8.930	2.248
Total Current Assets		69.618	26.851	15.033
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	20.882	10.513	4.773
	Other Current Liabilities	0.732	0.000
	Provisions	5.657	3.147	1.243
Total Current Liabilities		27.271	13.660	6.016
Net Current Assets		42.347	13.191	9.017
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		52.660	23.128	17.586

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales	215.987	72.494	39.261
		Sales (Shares)		0.191	0.000
		Rent		0.774	0.602
		Storage and Handling Charges		0.024	0.000
		Income From Sales of Shares (Long Term)		0.000	0.000
		Dividend		0.010	0.028
		Commission Received		9.220	1.482
		Interest Received		0.068	0.051
		Other Miscellaneous (Discount Received)		1.464	0.708
		TOTAL (A)	215.987	84.245	42.132
Less	EXPENSES
		Cost of Goods Sold	207.424	65.521	35.719
		Administrative, Selling and Other Expenses		11.881	3.396
		Long Term Capital – Loss (Net)		0.000	0.092
		TOTAL (B)	207.424 (Including Financial Expenses and Depreciation)	77.402	39.207
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			6.843	2.925
Less	FINANCIAL EXPENSES (D)			0.375	0.238
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			6.468	2.687
Less/ Add	DEPRECIATION/ AMORTISATION (F)			0.091	0.090
	PROFIT BEFORE TAX (E-F) (G)		8.563	6.377	2.597
Less	TAX (H)		2.695	1.905	0.789
	PROFIT AFTER TAX (G-H) (I)		5.868	4.472	1.808
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		11.645	7.173	5.365
	BALANCE CARRIED TO THE B/S		17.513	11.645	7.173
	Earnings Per Share (Rs.)		45.70	34.83	14.08

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.72	5.31	4.29
Net Profit Margin (PBT/Sales)	(%)	NA	8.77	6.61
Return on Total Assets (PBT/Total Assets}	(%)	7.34	21.14	14.16
Return on Investment (ROI) (PBT/Networth)		6.23	0.32	0.17
Debt Equity Ratio (Total Liability/Networth)		2.12	0.87	0.55
Current Ratio (Current Asset/Current Liability)		2.55	1.97	2.50

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	Yes
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

FORM 8

Corporate identity number of the company	U51909WB2001PTC093394
Name of the company	PEEKAY DEALER PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	506, Lords, 7/ 1, Lords Sinha Road, Kolkata – 700 071, West Bengal, India E-Mail: bharat@vsnl.in
This form is for	Creation of charge
Type of charge	Immovable Property Others (alongwith superstructure thereon and Immovable Plant and Machinery)
Particular of charge holder	Bank of Baroda, Camac Street Branch, 3B, Camac Street, Kolkata – 700 016, West Bengal, India E-Mail: camacs@bankofbaroda.com
Nature of description of the instrument creating or modifying the charge	Memorandum of Entry
Date of instrument Creating the charge	09/07/2010
Amount secured by the charge	Rs.115.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Interest and other charges will be paid as per terms and conditions of Sanction Letter. Presently ROI for Cash Credit - 1.50% above BPLR i.e. 13.50% p.a. W.M.R, however subject to change. Terms of Repayment: The working capital limit shall be repayable on demand. Margin: The borrower shall maintain appropriate margin as stipulated in the sanction terms, however the same is subject to change from time to time. Presently the applicable margin is CC - 25% on Stock and 30% on Book-debts LC - 15% in the form of FD Extent and Operation of the charge: The security created under said Agreement shall operate by way of First Charge and as continuing security. Company being mortgagor as well as Guarantor cum security provider created the aforesaid EMTD in favor of the Bank to secure the due repayment of the Credit facilities as sanctioned by the Bank to the tune of Rs.45.000 millions for Bharat Mercantile Corporation, Rs.40.000 millions to Peekay Agencies Private Limited, Rs.15.000 millions to Multichemical Industries Private Limited and Rs.15.000 millions to itself. Others: The Company hereby declares that all the charged property now existing are absolute property of and at the sole disposal of the Company and free from any prior charge or encumbrance and undertakes that all future property shall like wise. The charged assets/ property be kept at the Company risk and expense in good condition and fully insured against loss or damage by fire in the joint name of Company and bank. Other terms and conditions are as per above referred Agreement and Sanction Letter of the bank.
Short particulars of the property charged	The company created equitable mortgage by deposit of title deeds in respect of a) Office Space admeasuring 956 Sq. Ft., bearing no. 505 situated on the 5th Floor of the building known as Lords, being premises no. 7/1, Lord Sinha Road, Kolkata-700071. b) All that piece and parcel of sali land admeasuring 9.5 +12 +11 7/10 + 1 = 34 1/5 Decimal situated within the jurisdiction of District Registry Office Howrah, Additional District Sub- Registry office Domjur, within Mouza- Baniara under J.L. No. 26, R.S. Dag No. 1495, 1501, 1502 and 1504 P.S. Domjur, District –Howrah c) All that piece and parcel of sali land admeasuring 6 decimal situated within the jurisdiction of District Registry Office Howrah, Additional District Sub- Registry office Domjur, within Mouza- Baniara under J.L. No. 26, R.S. Dag No.1497 P.S. Domjur, District -Howrah d) All that piece and parcel of sali land admeasuring 30 decimal situated within the jurisdiction of District Registry Office Howrah, Additional District Sub- Registry office Domjur, within Mouza- Baniara under J. L. No 26 R.S. Dag No.1498 P.S. Domjur, District -Howrah e) All that piece and parcel of sali land admeasuring 3 4/5 + 9.5 = 13 3/10 decimal situated within the jurisdiction of District Registry Office Howrah, Additional District Sub- Registry office Domjur, within Mouza- Baniara under J.L. No. 26, R.S. Dag No.1500 and 1503 P.S. Domjur, District –Howrah f) All that piece and parcel of sali land admeasuring 8 decimal situated within the jurisdiction of District Registry Office Howrah, Additional District Sub- Registry office Domjur, within Mouza- Baniara under J.L. No. 26, R.S. Dag No.1496 P.S. Domjur, District –Howrah alongwith superstructure thereon and immovable Plant and Machinery both present and future

FIXED ASSETS

· Land

· Office Building

· Electric Installation

· Telephone Equipment

· Computer

· Tube Well

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.52.52
UK Pound	1	Rs.85.49
Euro	1	Rs.69.61

INFORMATION DETAILS

Report Prepared by :

MYI

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	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		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.