MIRA INFORM REPORT

Report Date :

16.05.2012

IDENTIFICATION DETAILS

Name :	PRAKASH BULB INDUSTRIES PRIVATE LIMITED
Registered Office :	86, Suren Sarkar Road, Kolkata – 700010, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.03.2009
Com. Reg. No.:	134080
Capital Investment / Paid-up Capital :	Rs.21.550 Millions
CIN No.: [Company Identification No.]	U31500WB2009PTC134080
TAN No.: [Tax Deduction & Collection Account No.]	CALP08808C
PAN No.: [Permanent Account No.]	AAFCP0020P
Legal Form :	Private Limited Liability of the partners
Line of Business :	Manufacturer and Exporter of Bulb, Lamp, CEL Lamp, Tube Lights, Candle Lamp, Decoration Lamp.
No. of Employees :	(Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 74452
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was incorporated in 1996 as a proprietory concern with the name of “Bulb Industries” and in the year 2009, it got converted into Private Limited. The company is having moderate track. There appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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. Vivek
Designation :	Director
Contact No.:	91-9830860860
Date :	28.04.2012

LOCATIONS

Registered Office/Factory :	86, Suren Sarkar Road, Kolkata – 700010, West Bengal, India
Tel. No.:	91-33-23539473
Fax No.:	91-33-23539472
E-Mail :	vivek@prakash-group.com
Website :	www.prakash-group.com
Location :	Owned

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Vivek Vikram Singh
Designation :	Director
Address :	FE – 330 Salt lake city, Kolkata – 701106, West Bengal, India
Date of Birth/Age :	09.06.1986
Qualification :	MBA
Date of Appointment :	21.03.2009

Other Directorship:

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	U31501WB1997PTC084058	HARSH BULB MANUFACTURING PRIVATE LIMITED	Director	17/05/2005	17/05/2005	-	Active	NO
2	U31500WB2009PTC134080	PRAKASH BULB INDUSTRIES PRIVATE LIMITED	Director	21/03/2009	21/03/2009	-	Active	NO
3	U29298WB1989PTC047785	VIVEK BULB INDUSTRIES PVT LTD	Director	01/10/2009	01/10/2009	-	Active	NO
4	U51109WB2007PTC121000	SILICON TRADECOMM PRIVATE LIMITED	Director	02/06/2010	02/06/2010	-	Active	NO

Name :	Mrs. Kamala Prasad Singh
Designation :	Director
Address :	FE – 330 Salt lake city, Kolkata – 701106, West Bengal, India
Date of Birth/Age :	06.09.1939
Qualification :	Post Graduate
Date of Appointment :	21.03.2009

Other Directorship:

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	U29298WB1989PTC047785	VIVEK BULB INDUSTRIES PVT LTD	Director	01/11/1989	01/11/1989	-	Active	NO
2	U51311WB1995PTC073186	VIKRAM TEXTILES PVT LTD	Director	27/07/1995	27/07/1995	-	Active	NO
3	U31503WB1995PLC068206	INDO KOREAN LIGHTING LTD.	Director	01/12/1998	01/12/1998	-	Active	NO
4	U28920WB1988PTC044432	MECHANO INVTERNATIONAL PVT LTD	Director	19/09/2001	19/09/2001	-	Active	NO
5	U70101WB1996PTC079771	ASHADEEP DEVELOPERS PVT LTD	Director	15/05/2004	15/05/2004	-	Active	NO
6	U51109WB2005PTC104186	CREEK VANIJYA PRIVATE LIMITED	Director	24/11/2005	24/11/2005	01/02/2010	Active	NO
7	U51109WB2005PTC104145	COMPARE VANIJYA PRIVATE LIMITED	Director	24/11/2005	24/11/2005	01/02/2010	Active	NO
8	U51109WB2005PTC105210	INNOVATIVE VINIMAY PRIVATE LIMITED	Director	24/11/2005	24/11/2005	01/02/2010	Active	NO
9	U74140WB2005PTC103724	HAMRAHI CONSULTANTS PRIVATE LIMITED	Director	24/11/2005	24/11/2005	01/02/2010	Active	NO
10	U51109WB2005PTC105350	GURUKUL VYAPAAR PRIVATE LIMITED	Director	24/11/2005	24/11/2005	01/02/2010	Active	NO
11	U70101WB2006PTC110758	BADRINATH INFRASTRUCTURE PRIVATE LIMITED	Director	23/09/2006	23/09/2006	-	Active	NO
12	U31500WB2009PTC134080	PRAKASH BULB INDUSTRIES PRIVATE LIMITED	Director	21/03/2009	21/03/2009	-	Active	NO
13	U45400WB2007PTC117216	NEW TOWN NIRMAN PRIVATE LIMITED	Director	28/05/2010	28/05/2010	-	Active	NO

Name :	Mr. Shailendra Singh
Designation :	Director
Address :	FE – 330 Salt lake city, Kolkata – 701106, West Bengal, India
Date of Birth/Age :	17.11.1965
Qualification :	Graduate
Date of Appointment :	21.03.2009

Other Directorship:

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	U29298WB1989PTC047785	VIVEK BULB INDUSTRIES PVT LTD	Director	01/11/1989	01/11/1989	-	Active	NO
2	U51311WB1995PTC073186	VIKRAM TEXTILES PVT LTD	Director	27/07/1995	27/07/1995	-	Active	NO
3	U31501WB1997PTC084058	HARSH BULB MANUFACTURING PRIVATE LIMITED	Director	22/04/1997	22/04/1997	-	Active	NO
4	U51109WB1996PTC077879	PROTOCOL COMMOTRADE PVT LTD	Director	09/03/1999	09/03/1999	-	Active	NO
5	U70109WB1993PTC058756	SUNIL PROMOTERS PVT LTD	Director	09/06/1999	09/06/1999	-	Active	NO
6	U72400WB1997PTC086117	CAPRICORN COMPUTERS PRIVATE LIMITED	Director	01/04/2003	01/04/2003	-	Active	NO
7	U65921WB1994PTC064207	FERMAT TRADERS PVT. LTD.	Director	15/05/2004	15/05/2004	28/01/2008	Active	NO
8	U67120WB1992PTC055705	NEM HOLDINGS PVT LTD	Director	15/05/2004	15/05/2004	01/12/2008	Active	NO
9	U45202WB1993PTC060145	ABHINANDAN PROPERTIES PVT LTD	Director	15/05/2004	15/05/2004	01/12/2008	Active	NO
10	U45201WB2005PTC101802	PRAKASH INFRASTUCTURE PRIVATE LIMITED	Director	21/02/2005	21/02/2005	-	Active	NO
11	U45400WB2005PTC103720	JAIN CONSTRUCTIONS PRIVATE LIMITED	Director	04/05/2005	04/05/2005	01/09/2008	Active	NO
12	U51109WB2005PTC105304	MEGAMART MERCHANTS PRIVATE LIMITED	Director	24/11/2005	24/11/2005	01/02/2010	Active	NO
13	U51109WB2005PTC104191	PROBAL MERCHANTS PRIVATE LIMITED	Director	24/11/2005	24/11/2005	01/02/2010	Active	NO
14	U51109WB2005PTC105357	PRINCIPLE VINIMAY PRIVATE LIMITED	Director	24/11/2005	24/11/2005	01/02/2010	Active	NO
15	U51109WB2005PTC105175	MUMPEE MERCHANTS PRIVATE LIMITED	Director	24/11/2005	24/11/2005	01/02/2010	Active	NO
16	U51109WB2005PTC104664	MANTRA VYAPAAR PRIVATE LIMITED	Director	24/11/2005	24/11/2005	01/02/2010	Active	NO
17	U72900WB2000PTC091117	SUVIDHA INFOTECH COM SERVICES PRIVATE LIMITED	Director	28/07/2006	28/07/2006	-	Active	NO
18	U31500WB2009PTC134080	PRAKASH BULB INDUSTRIES PRIVATE LIMITED	Director	21/03/2009	21/03/2009	-	Active	NO
19	U51109WB2007PTC114094	GURU VINCOM PRIVATE LIMITED	Director	28/05/2010	28/05/2010	-	Active	NO
20	U45400WB2007PTC117216	NEW TOWN NIRMAN PRIVATE LIMITED	Director	28/05/2010	28/05/2010	-	Active	NO
21	U51109WB2007PTC121000	SILICON TRADECOMM PRIVATE LIMITED	Director	02/06/2010	02/06/2010	-	Active	NO
22	U51909WB2007PTC114593	SHIVANGAN GOODS PRIVATE LIMITED	Director	26/12/2011	26/12/2011	-	Active	NO
23	U67100WB2008PTC128762	DYNAMIC FINANCIAL MANAGEMENT SERVICES PRIVATE LIMITED	Director	30/12/2011	30/12/2011	-	Active	NO
24	U51909WB2008PTC128499	ANURAG COMMOTRADE PRIVATE LIMITED	Director	30/12/2011	30/12/2011	-	Active	NO
25	U74999WB2012PTC178352	PRAKASH LITES INDUSTRIES PRIVATE LIMITED	Director	28/03/2012	28/03/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Vivek Vikram Singh	5000
Dharmendra Singh	105000
Kamala Prasad Singh	1395000
Anita Singh	100000
Shailendra Singh	50000
Madhu Chhanda Singh	20000
Saraswati Singh	40000
Neha Singh	30000
Vivek Bulb Industries Private Limited, Kolkata	400000
Sivangan Vinimay Limited, Kolkata	10000
Total	2155000

AS ON 30.09.2011

Category	Percentage
Bodies corporate	19.00
Directors or relatives of Directors	81.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Bulb, Lamp, CEL Lamp, Tube Lights, Candle Lamp, Decoration Lamp.
Exports :
Products :	Bulb, Lamp, CEL Lamp, Tube Lights, Candle Lamp, Decoration Lamp.
Countries :	· Sri Lanka · Nepal · African Countries
Imports :
Products :	Raw Material
Countries :	· China · Japan · European Countries
Terms :
Selling :	Advanced
Purchasing :	Advanced, Credit (30 days)

GENERAL INFORMATION

Suppliers :

· Philips

· Surya

Customers :

· Wholesalers

· Distributor

· Bajaj

No. of Employees :

600 (Approximately)

Bankers :

Standard Chartered Bank, Kolkata

Facilities :

UNSECURED LOAN	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Shareholders	0.541	0.541
TOTAL	0.541	0.541

Banking Relations :	--
Auditors :
Name :	Surana Singh Rathi and Company Chartered Accountant
Address :	15a ,Laxmi Narayan Mukherjee Road, Kolkata – 700006, West Bengal, India
Associates/Subsidiaries :	NA

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2155000	Equity Shares	Rs.10/- each	Rs.21.550 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		21.550	21.550	0.150
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3.000	3.000	0.000
4] (Accumulated Losses)		(5.937)	(3.304)	(0.005)
NETWORTH		18.613	21.246	0.145
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.541	0.541	0.109
TOTAL BORROWING		0.541	0.541	0.109
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		19.154	21.787	0.254
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		24.472	26.263	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		43.954	38.642	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	31.710	16.325	0.000
	Sundry Debtors	4.011	0.072	0.000
	Cash & Bank Balances	15.051	7.352	0.096
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.105	3.158	0.000
Total Current Assets		53.877	26.907	0.096
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	83.586	62.769	0.003
	Other Current Liabilities	19.691	7.402	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		103.277	70.171	0.003
Net Current Assets		(49.400)	(43.264)	0.093
MISCELLANEOUS EXPENSES		0.128	0.146	0.158
TOTAL		19.154	21.787	0.254

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		TOTAL	NA	NA
	EXPENSES
		TOTAL	NA	NA
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1.452	0.390
	FINANCIAL EXPENSES		0.048	0.047
	DEPRECIATION/ AMORTISATION		4.036	3.643
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(3.304)	(0.005)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	NA	NA
Net Profit Margin (PBT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	NA
Return on Investment (ROI) (PBT/Networth)		NA	NA	NA
Debt Equity Ratio (Total Liability/Networth)		5.58	3.33	0.77
Current Ratio (Current Asset/Current Liability)		0.52	0.38	32.00

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	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter's background	Yes
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
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

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.53.84
UK Pound	1	Rs.86.72
Euro	1	Rs.69.17

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	SDA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--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	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		27

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	-

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.