1. Summary Information

		Country	India
Company Name	RISHAB POLYCHEM PRIVATE LIMITED	Principal Name 1	Mr. Yogesh Kumar
Status	Moderate	Principal Name 2	Mr. Rajesh Kumar
		Registration #	55-119496
Street Address	4316/8 Saini Market, Bahudargarh Road, Delhi – 11006, India
Established Date	21.03.2003	SIC Code	--
Telephone#	Not Available	Business Style 1	Trading
Fax #	Not Available	Business Style 2	--
Homepage	Not Available	Product Name 1	Polymers
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.21,310,000/-	Product Name 3	--
Shareholders	Bodies corporate-57.02% Directors or relatives of Directors-24.43% Other top fifty shareholders-18.55%	Banking	Syndicate Bank
Public Limited Corp.	No	Business Period	9 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B (30)
Related Company
Relation	Country	Company Name	CEO
-	-	-	-
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	75,320,000	Current Liabilities	24,651,000
Inventories	4,578,000	Long-term Liabilities	17,664 ,000
Fixed Assets	290,000	Other Liabilities	90,000
Deferred Assets	0,000	Total Liabilities	42,405,000
Invest& other Assets	141,000	Retained Earnings	16,614,000
		Net Worth	37,924,000
Total Assets	80,329,000	Total Liab. & Equity	80,329,000
Total Assets (Previous Year)	68,226,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Total Income	300,056,000	Net Profit	771,000
Total Income (Previous yr)	260,412,000	Net Profit(Prev.yr)	758,000

MIRA INFORM REPORT

Report Date :

05.05.2012

IDENTIFICATION DETAILS

Name :	RISHAB POLYCHEM PRIVATE LIMITED
Registered Office :	4316/8, Saini Market, Bahudargarh Road, Delhi – 110006
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.03.2003
Com. Reg. No.:	55-119496
Capital Investment / Paid-up Capital :	Rs.21.310 Millions
CIN No.: [Company Identification No.]	U24139DL2003PTC119496
TAN No.: [Tax Deduction & Collection Account No.]	DELR14425F
PAN No.: [Permanent Account No.]	AACCR5433P
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of Polymers
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 150000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 :	4316/8 Saini Market, Bahudargarh Road, Delhi – 110006, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	gomaka@bol.net.in rishabpolychem@gmail.com

DIRECTORS

As on: 30.09.2011

Name :

Mr. Yogesh Kumar

Designation :

Director

Address :

4325, Gali Bahuji Bahadurgarh Road, Delhi – 110006, India

Date of Birth/Age :

16.04.1967

Date of Appointment :

21.03.2003

DIN No.:

01237384

Name :

Mr. Rajesh Kumar

Designation :

Director

Address :

4325, Gali Bahuji Bahadurgarh, Road, Delhi – 110006, India

Date of Birth/Age :

11.11.1969

Date of Appointment :

21.03.2003

DIN No.:

01237453

Other Directorships :

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	U74899DL1995PTC064505	SAURABH PORTFOLIOS PRIVATE LIMITED	Director	20-01-95	20-01-95	05-05-09	Active	NO
2	U74899DL1995PTC064898	WORTH WHILE FINANCIAL SERVICES PRIVATE LIMITED	Director	06-02-95	06-02-95	05-05-09	Active	NO
3	L74899DL1993PLC051901	ALPINE CAPITAL SERVICES LIMITED	Director	01-02-02	01-02-02	-	Active	NO
4	U24139DL2003PTC119496	RISHAB POLYCHEM PRIVATE LIMITED	Director	21-03-03	21-03-03	-	Active	NO
5	U24100DL2010PTC200302	SIDDHARTH POLY VINYL PRIVATE LIMITED	Director	17-03-10	17-03-10	-	Active	NO

Name :

Mr. Ashok Bhagia

Designation :

Director

Address :

BM-187, West Shalimar Bagh, Delhi – 110052, India

Date of Birth/Age :

05.04.1958

Date of Appointment :

20.01.2010

DIN No.:

02926773

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Rajesh Kumar	34500
Yogesh Kumar	18000
HUF Rajesh Kumar and Sons	147000
Preeti Rajesh Kumar	11000
Usha Yogesh Kumar	145000
HUF Yogesh Kumar and Sons	85700
D. B. Sharma	7500
Rachna Jain	26000
Kanta Jain	5000
Priyanka Chaddha	5000
Vinod Kumar	30300
Subodh Kumar	7000
Ram Prasad	42500
Premwati	37000
Rama Devi	10500
Sunil Kumar Jain	10000
Kasturi Devi	5000
Sangeeta	5000
Kamlesh	5000
Ashok Bhagia	55500

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2011

Category	Percentage
Bodies corporate	57.02
Directors or relatives of Directors	24.43
Other top fifty shareholders	18.55
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading of Polymers

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Syndicate Bank, Barakhamba Road, Arunachal Building, New Delhi – 110001, Delhi, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Syndicate Bank CC A/c	17.451	14.617
Syndicate Bank Car loan	0.213	0.298
Total	17.664	14.915

Banking Relations :
Auditors :
Name :	Surendra Shrey and Company Chartered Accountants
Address :	C-7, F F, Lajpat Nagar-I, New Delhi – 110024, India
Tel. No.:	91-29817287/ 29814754
Mobile No.:	91-9811020377
PAN.:	ABBPG7716M

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2150000	Equity Shares	Rs.10/- each	Rs.21.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2131000	Equity Shares	Rs.10/- each	Rs.21.310 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		21.310	20.000	4.470
2] Share Application Money		0.000	3.345	0.000
3] Reserves & Surplus		16.614	0.993	0.234
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		37.924	24.338	4.704
LOAN FUNDS
1] Secured Loans		17.664	14.915	10.759
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		17.664	14.915	10.759
DEFERRED TAX LIABILITIES		0.013	0.004	0.000
TOTAL		55.601	39.257	15.463
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.290	0.365	0.022
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.020
DEFERREX TAX ASSETS		0.000	0.000	0.003
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.578	11.655	1.538
	Sundry Debtors	73.638	52.390	44.032
	Cash & Bank Balances	0.210	0.124	0.090
	Other Current Assets	1.462	3.506	2.154
	Loans & Advances	0.010	0.010	0.000
Total Current Assets		79.898	67.685	47.814
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	24.651	28.702	32.321
	Other Current Liabilities
	Provisions	0.077	0.267	0.110
Total Current Liabilities		24.728	28.969	32.431
Net Current Assets		55.170	38.716	15.383
MISCELLANEOUS EXPENSES		0.141	0.176	0.035
TOTAL		55.601	39.257	15.463

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	300.056	260.412	108.920
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	298.799	259.162	108.604
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.257	1.250	0.316
Less/ Add	DEPRECIATION/ AMORTISATION		0.100	0.097	0.010
	PROFIT BEFORE TAX		1.157	1.153	0.306
Less	TAX		0.386	0.395	0.106
	PROFIT AFTER TAX		0.771	0.758	0.200
	Earnings Per Share (Rs.)		0.57	0.57	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.26	0.29	0.18
Return on Total Assets (PBT/Total Assets}	(%)	1.44	1.69	0.64
Return on Investment (ROI) (PBT/Networth)		0.03	0.05	0.06
Debt Equity Ratio (Total Liability/Networth)		1.12	1.80	9.18
Current Ratio (Current Asset/Current Liability)		3.23	2.34	1.47

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoters background	Yes
No. of Employees	No
Name of Person Contacted	No
Designation of contact person	No
Turnover of firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

PERFORMANCE REVIEW:

During the year, the turnover of the Company increased to Rs.300.056 Millions as against Rs.260.412 Millions during the previous year. The net profit of the Company also increased to Rs.0.772 Million as against previous year profit of Rs.0.758 Million. The Directors of the company are quite hopeful that profitability of the company will further improve in the coming year.

No material changes have occurred from the date of the Balance Sheet till the date of this report which has any adverse affect on the affairs of the Company.

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U24139DL2003PTC119496
Name of the company	RISHAB POLYCHEM PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	4316/8 Saini Market, Bahudargarh Road, Delhi – 110006, India E-mail: gomaka@bol.net.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10161857
Type of charge	Book debts Movable property(not being pledge)
Particular of charge holder	Syndicate Bank, Barakhamba Road, Arunachal Building, New Delhi – 110001, India E-mail: jagjit1548@hotmail.com
Nature of instrument creating charge	Composite Hypothecation Agreement form no ASD-4
Date of instrument Creating the charge	04.04.2011
Amount secured by the charge	Rs.45.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest SOD- BR+5.50% i.e. @ 15% per annum on monthly rests FLC/INLC- Commission as per Bank norms Terms of repayments SOD on demand INLC/FLC on due date Margin Stock / BD 30% FLC/INLC 40% Extent and operation of the charge Amount Secured Rs.45.000 Millions i.e. SOD limit Rs.30.000 Millions +FLC/INLC Rs.15.000 Millions Primary Security- SOD -Hypothecation of Stock and Book Debts both present and future FLC/INLC- Cash Margin and Counter Guarantee Collateral Security- EM of properties as per details mentioned in sanction letter
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Primary Security- SOD -Hypothecation of Stock and Book Debts both present and future FLC/INLC- Cash Margin and Counter Guarantee Collateral Security- EM of properties as per details mentioned in sanction letter
Particulars of the present modification	Existing charge is modified to secure credit facilities amounting to Rs.45.000 Millions i.e. SOD limit Rs.30.000 Millions +FLC/INLC Rs.15.000 Millions against the securities of Primary Security- 1)Hypothecation of Stock and Book Debts both present and future2) Cash Margin and Counter Guarantee Collateral Security- EM of properties as per details mentioned in sanction letter

FIXED ASSETS:

• Computer
• Refrigerator
• Car
• Printer
• Air Conditioner

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.53.72
UK Pound	1	Rs.86.98
Euro	1	Rs.67.01

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
TOTAL		30

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.