MIRA INFORM REPORT

Report Date :

07.05.2012

IDENTIFICATION DETAILS

Name :	BLISS ANAND PRIVATE LIMITED

Registered Office :	10/17, Basement, Nehru Enclave, Kalkaji, New Delhi 110019, India

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	21.04.1975

Com. Reg. No.:	55-007735

Capital Investment / Paid-up Capital :	Rs.44.108 Millions

CIN No.: [Company Identification No.]	U74899DL1975PTC007735

TAN No.: [Tax Deduction & Collection Account No.]	DELB07953B / DELB00313F

PAN No.: [Permanent Account No.]	AAACB4798B

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of High Quality Field Instruments.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (32)

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Maximum Credit Limit :	USD 420000

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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	10/17, Basement, Nehru Enclave, Kalkaji, New Delhi - 110019, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	akvk2003@yahoo.com sales@blissanand.com
Website :	http://www.blissanand.com

Corporate Office/ Manufacturing Unit I :	92B and 93B, Sector-5, IMT Manesar, Gurgaon, Haryana, India
Tel. No.:	91-124-4366000/ 9 (10 line)
Fax No.:	91-124-2290884

Manufacturing Unit II :	Plot No.240, Sector-3, Growth Center, HSIDC, Bawal, Haryana, India

Manufacturing Unit III/ Sales Office 1:	P. O. Box: 18576, RA 08, WF 04, Jebel Ali Free Zone, Dubai, U.A.E.
Tel. No.:	00971-4-883 56 33
Fax No.:	00971-4-883 56 44
Email :	gages@eim.ae admin.dxb@blissanand.com

Sales Offices 2:	P. O. Box: 050012, Office: 211, Second Floor,Business Center "Altyn Gasyr", Almaty City, Kazakhstan.
Tel No.:	007-727-2440464
Mobile No.:	007-702-1548480
Fax No.:	007-727-2440464
Email :	sales.kazakh@blissanand.com

Branch Office :	Located at: · Mumbai · Vadodara · Gurgaon · Coimbatore · Chennai

DIRECTORS

(AS ON 20.09.2011)

Name :

Mr. Kunal Anand

Designation :

Director

Address :

A-134, Sushant Lok, Gurgaon, Haryana, India

Date of Birth/Age :

14.02.1979

Date of Appointment :

01.08.2003

DIN No.:

00588411

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	U95000DL2000PTC106269	BADOTHERM INSTRUMENTS HOLLAND PRIVATE LIMITED.	Managing director	1/12/2010	14/06/2000	Active	NO
2	U74899DL1975PTC007735	BLISS ANAND PRIVATE LIMITED	Director	1/8/2003	1/8/2003	Active	NO
3	U11101DL2004PTC128703	SULAIMAN BLISS PETROTECH PRIVATE LIMITED	Director	31/08/2004	31/08/2004	Active	NO
4	U29246DL2004PTC128966	SPRIANO BLISS ANAND INSTRUMENTS INDIA PRIVATE LIMITED	Director	10/9/2004	10/9/2004	Active	NO

Name :

Mr. Prem Anand

Designation :

Director

Address :

A-134, Sushant Lok, Gurgaon, Haryana, India

Date of Birth/Age :

12.11.1942

Date of Appointment :

21.04.1975

DIN No.:

00486013

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	U74899DL1975PTC007735	BLISS ANAND PRIVATE LIMITED	Director	21/04/1975	21/04/1975	Active	NO
2	U95000DL2000PTC106269	BADOTHERM INSTRUMENTS HOLLAND PRIVATE LIMITED.	Director	14/06/2000	14/06/2000	Active	NO
3	U11101DL2004PTC128703	SULAIMAN BLISS PETROTECH PRIVATE LIMITED	Director	31/08/2004	31/08/2004	Active	NO
4	U29246DL2004PTC128966	SPRIANO BLISS ANAND INSTRUMENTS INDIA PRIVATE LIMITED	Director	10/9/2004	10/9/2004	Active	NO
5	U29253DL2006PTC154684	FARRIS ENGINEERING PRIVATE LIMITED	Director	9/10/2006	9/10/2006	Active	NO
6	U74140HR2006PTC036487	KAVITA ANAND HOLDINGS PRIVATE LIMITED	Director	14/12/2006	14/12/2006	Active	NO

Name :

Mr. Vikash Anand

Designation :

Director

Address :

A-134, Sushant Lok, Gurgaon, Haryana, India

Date of Birth/Age :

22.10.1972

Date of Appointment :

01.12.1995

DIN No.:

00486074

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	U74899DL1975PTC007735	BLISS ANAND PRIVATE LIMITED	Director	1/12/1995	1/12/1995	Active	NO
2	U95000DL2000PTC106269	BADOTHERM INSTRUMENTS HOLLAND PRIVATE LIMITED.	Director	14/06/2000	14/06/2000	Active	NO
3	U11101DL2004PTC128703	SULAIMAN BLISS PETROTECH PRIVATE LIMITED	Director	31/08/2004	31/08/2004	Active	NO
4	U29246DL2004PTC128966	SPRIANO BLISS ANAND INSTRUMENTS INDIA PRIVATE LIMITED	Director	10/9/2004	10/9/2004	Active	NO
5	U29253DL2006PTC154684	FARRIS ENGINEERING PRIVATE LIMITED	Director	9/10/2006	9/10/2006	Active	NO
6	U74140HR2006PTC036487	KAVITA ANAND HOLDINGS PRIVATE LIMITED	Director	14/12/2006	14/12/2006	Active	NO

Name :

Mr. Gaurav Anand

Designation :

Director

Address :

A-134, Sushant Lok, Gurgaon, Haryana, India

Date of Birth/Age :

24.04.1974

Date of Appointment :

30.11.2006

DIN No.:

00588394

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	U11101DL2004PTC128703	SULAIMAN BLISS PETROTECH PRIVATE LIMITED	Director	31/08/2004	31/08/2004	Active	NO
2	U29246DL2004PTC128966	SPRIANO BLISS ANAND INSTRUMENTS INDIA PRIVATE LIMITED	Director	10/9/2004	10/9/2004	Active	NO
3	U95000DL2000PTC106269	BADOTHERM INSTRUMENTS HOLLAND PRIVATE LIMITED.	Director	14/06/2006	14/06/2006	Active	NO
4	U74899DL1975PTC007735	BLISS ANAND PRIVATE LIMITED	Director	30/11/2006	30/11/2006	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 20.09.2011)

Names of Shareholders		No. of Shares

Prem Anand		782221
Triveni Anand		58454
Vikash Anand		598728
Kunal Anand		966895
Gaurav Anand		1696358
Prem Anand and Sons (HUF)		66631
Rachna Anand		90000
Aarti Anand		40975
Yuvraj Anand		54946
Adyan Anand		55578

Total		4410786

(AS ON 20.09.2011)

Equity Shares Break – up

Category		Percentage

Directors or relatives of directors		100.00

Total		100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of High Quality Field Instruments.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Oriental Bank of Commerce

Overseas Branch, Udyog Vihar, Phase V, Gurgaon – 122001, Haryana, India

· Punjab National Bank

· Indian Bank

· Bank of Baroda

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)

Term Loans
Citi Bank	18.129	18.779
HDFC Bank Vehicle Loan	0.368	0.489
ICICI Bank Vehicles	5.242	0.210
Indian Bulls Services Limited	0.274	0.000
Tata Capital Limited	2.091	0.870
Kotak Mahindra Bank Vehicle Loan	1.119	1.003

Cash Credit and Overdraft Bills Discounting Limits
Oriental Bank of Commerce 0035	50.242	34.087

TOTAL	77.465	55.438

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)

Hotel Vishal Residency	0.000	0.120
Kavita Anand Holding (P) Limited	17.008	2.645
Kunal Anand	0.821	0.000
Nidhi Manocha	0.200	0.000
Prem Anand	0.129	0.000
Vikas Anand	2.105	0.000
Vipin Chandha	0.000	0.600
India Bulls Financial Services Limited 24212	0.000	0.526

Total	20.263	3.891


Banking Relations :	--

Auditors :
Name :	Arun Virander and Company Chartered Accountant
Address :	5C / 9, 2^nd Floor, New Rohtak Road, New Delhi – 110005, India
PAN No.:	AABFA4174E

Subsidiaries :	Badotherm Instruments Holland Private Limited CIN No.:U95000DL2000PTC106269 Kavita Anand Holdings Private Limited CIN No.: U74140HR2006PTC036487 Sulaiman Bliss Petrotech Private Limited CIN No.: U11101DL2004PTC128703

CAPITAL STRUCTURE

(AS ON 20.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount

4500000	Equity Shares	Rs. 10 each	Rs.45.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

4410786	Equity Shares	Rs. 10 each	Rs.44.108 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		44.108	44.107	44.107
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		60.118	58.350	26.173
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		104.226	102.457	70.280
LOAN FUNDS
1] Secured Loans		77.465	55.438	56.006
2] Unsecured Loans		20.263	3.891	1.506
TOTAL BORROWING		97.728	59.329	57.512
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		201.954	161.786	127.792

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		112.622	90.751	51.710
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		24.045	24.044	24.044
DEFERREX TAX ASSETS		0.145	0.289	0.528

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	26.576	19.566	20.306
	Sundry Debtors	81.576	33.148	18.343
	Cash & Bank Balances	5.378	19.333	2.576
	Other Current Assets	5.575	1.867	1.893
	Loans & Advances	8.575	4.534	40.861
Total Current Assets		127.680	78.448	83.979
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	48.686	23.450	18.283
	Other Current Liabilities	8.120	4.796	10.997
	Provisions	5.774	3.585	3.316
Total Current Liabilities		62.580	31.831	32.596
Net Current Assets		65.100	46.617	51.383

MISCELLANEOUS EXPENSES		0.042	0.085	0.127

TOTAL		201.954	161.786	127.792

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		TOTAL	231.237	136.231	141.002

Less	EXPENSES
		TOTAL	228.088	133.466	137.432

	PROFIT BEFORE TAX		3.149	2.765	3.500

Less	TAX		1.381	1.814	1.894

	PROFIT AFTER TAX		1.768	0.951	1.606

	Earnings Per Share (Rs.)		0.40	0.21	0.36

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.76	0.70	1.14

Return on Total Assets (PBT/Total Assets}	(%)	1.31	1.63	2.57

Return on Investment (ROI) (PBT/Networth)		0.03	0.03	0.04

Debt Equity Ratio (Total Liability/Networth)		1.54	0.89	1.28

Current Ratio (Current Asset/Current Liability)		2.04	2.46	2.57

LOCAL AGENCY FURTHER INFORMATION

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	No
Type of Business	Yes
Line of Business	Yes
Promoter’s 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 in the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

NOTE:

The Registered office of the company has been shifted from BK-4, West Shalimar Bagh, club Road, New Delhi, India, to the present address w.e.f. 23.01.2009.

FORM 8

Corporate identity number of the company	U74899DL1975PTC007735
Name of the company	BLISS ANAND PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	10/17, Basement, Nehru Enclave, Kalkaji, New Delhi 110019, India akvk2003@yahoo.com
This form is for	Modification of Charge
Charge identification (ID) number of the charge	10013844
Type of charge	Immovable property Book debts Movable property (not being pledge) Others: Hypothecation of stock
Particular of charge holder	Oriental Bank of Commerce, Overseas Branch, Udyog Vihar, Phase V, Gurgaon 122001, Haryana, India Email: bm0987@obc.co.in
Nature of instrument creating charge	Loan Doc-13 supplemental agreement to secure credit/loan Facilities Loan Doc -5 Agreement of Tern Loan Loan Doc -12 Counter Guarantee Agreement LTR 18.2 (Revised) LTR/24 (18.4) (Revised)
Date of instrument Creating the charge	15.12.2011
Amount secured by the charge	Rs.246.500 Millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of interest Base Rate + 3.25% Terms of repayment Term Loan: as per agreement Others: One Year Margin 10 to 25% Extent and operation of the charge Loan Doc-13 supplemental agreement to secure credit/loan Facilities Loan Doc -5 Agreement of Tern Loan Loan Doc -12 Counter Guarantee Agreement LTR 18.2 (Revised) LTR/24 (18.4) (Revised)
Short particulars of the property charged (Including location of the property)	Factory land and building at Plot No. 92B-93B, Sec.-5, IMT Manesar, District Gurgaon Hypothecation of plant and machinery and furniture fixtures and other fixed assets present and future of the company Personal guarantee of all directors of the company Hypothecation of stock and receivables (upto 90 days old) Property of Associate Company Sulaiman Bliss Petrotech Private Limited situated at Plot No. 240, Industrial Area Sector 3, Bawal, Rewari Domestic Documentary Bill
Date of instrument modifying the charge	01.11.2011
Particulars of the present modification	The overall limit has been increase from Rs.110.940 Millions to Rs. 246.500 Millions 1) Term Loan Rs.43.500 Millions 2) Cash Credit Rs.60.000 Millions 3) Doc. Usance Bill Rs 20.000 Millions 4) Packing Credit Rs.40.000 Millions 5) Bank Guarantee Rs.80.000 Millions 6) Forward Facility 5% of Rs.60.000 Millions i.e. Rs. 3.000 Millions

FIXED ASSETS:

Computer
Air Conditioner
Electrical Equipment
Fax Machine
Furniture and Fixtures
Office Equipment
Office Building

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.70.65

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		32

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.

MIRA INFORM REPORT

26.576

19.566

81.576

33.148

5.378

19.333

5.575

1.867

8.575

4.534

127.680

78.448

48.686

23.450

8.120

4.796

5.774

3.585

62.580

31.831

65.100

46.617

0.76

0.70

1.31

1.63

0.03

0.03

1.54

0.89

2.04

2.46

Unit