MIRA INFORM REPORT

Report Date :

19.05.2012

IDENTIFICATION DETAILS

Name :	SUPER CRYOGENIC SYSTEMS PRIVATE LIMITED (w.e.f. 05.06.1997)
Formerly Known As :	SUPER CRYOGENIC SYSTEMS AND INDUSTRIAL GASES PRIVATE LIMITED
Registered Office :	Flat No. 799, Pocket 5, Mayur Vihar Phase- I, Delhi – 110091
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.01.1996
Com. Reg. No.:	55- 75387
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U35303DL1996PTC075387
TAN No.: [Tax Deduction & Collection Account No.]	DELS10788B
PAN No.: [Permanent Account No.]	AACCS2982A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Supplier of a premium range of Cryogenic Storage Tank, Cryogenic CO2 Storage / Tranport Tank, Atmosphric Vaporizer and Allied Equipments.
No. of Employees :	130 (Approximately)

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 13000
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

INFORMATION PARTED BY (General Information)

Name :	Ms. Divya
Designation :	Accounts Executive
Contact No.:	91-120-4625500
Date :	30.04.2012

LOCATIONS

Registered Office :	Flat No. 799, Pocket 5, Mayur Vihar Phase- I, Delhi – 110091, India
Tel. No.:	91-120-4625500/ 4625535
Fax No.:	91-120-4337534
E-Mail :	mail@supercryo.com supercryo@vsnl.com supercryo@gmail.com prnoida@yahoo.co.in mbg_fca@hotmail.com
Area :	850 sq. ft.
Location :	Owned
Factory :	C-18-19, Sector – 8, Noida- 201301, Uttar Pradesh, India
Tel. No.:	91-120-4625500/ 4625535/ 2424079/ 2424080/ 2424559/ 3914024
Fax No.:	91-120-4307534/ 2424529/ 4625535
Area :	1600 Sq. Ft.
Location :	Owned

DIRECTORS

(AS ON 30.09.2011)

Name :	Mr. Prakash Rajotia
Designation :	Director
Address :	D -47, Sector- 55, GB Nagar, Noida- 201301, Uttar Pradesh, India
Date of Birth/Age :	17.08.1972
Date of Appointment :	13.09.2002
DIN No.:	00776873
Name :	Mr. Om Singh Srivastava
Designation :	Director
Address :	C -118, Greater Kailash, Part- I, New Delhi- 110048, India

KEY EXECUTIVES

Name :	Ms. Divya
Designation :	Accounts Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Banwari Lal Sharma	3203
Shanti Sharma	1200
Deepak Rajotia	100
Kusum Sharma	100
Kanwal Rajotia	100
Neelam Sharma	100
Prakash Rajotia	200
Deepak Fabrication, India	1
Total	5004

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Bodies corporate	0.02
Directors or relatives of directors	99.98
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Supplier of a premium range of Cryogenic Storage Tank, Cryogenic CO2 Storage / Tranport Tank, Atmosphric Vaporizer and Allied Equipments.
Products :	· Vacuum Insulated Cryogenic Tanks · Ammonia Storage Tank · Liquid Carton Dioxide Storage and Transport Systems · Ammonia. LPG, Propane Storage Tanks and Allied Systems · Pressure Vessels, Heat Exchangers, Reactors, Vaporizers · Turnkey Cylinder Filling Stations · Process Pipeline Back-up Systems · Atmospheric Vaporizers, Phase Separators, Cryo Treatment Units, etc. · Cylinder Filling Manifolds · Cylinder Test Stations.
Exports :
Products :	Tanks
Countries :	Japan
Imports :
Products :	Raw Materials
Countries :	· USA · China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

130 (Approximately)

Bankers :

· Corporation Bank,

G-28/29, Sector- 18, Noida – 201301, Uttar Pradesh, India

· Citi Bank

· ICICI Bank

· HDFC Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Corporation Bank OD A/c No.01070004	0.545	0.000
Corporation Bank A/C CSLPS 01000002	9.226	0.000
Corporation Bank Loan (Against LD)	2.000	0.000
Corporation Bank Car Loan A/c (Ritz)	0.272	0.000
HDFC Car Loan (AVEO) No 16769390	0.387	0.000
HDFC Car Loan (SX-4) No15718522	0.386	0.587
ICICI Car Loan (Swift)	0.298	0.085
Citi Bank Loan A/c	0.000	0.301
Total	13.114	0.973
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Shareholders	0.530	0.729
Total	0.530	0.729

Banking Relations :	--
Auditors :
Name :	M B Gupta and Company Chartered Accountant
Address :	R-52, III Floor, Shakarpur, Vikas Marg, New Delhi – 110092, India
Tel No.:	91-11-22012352
PAN No.:	AAGFM7201B

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- Each	Rs.1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5004	Equity Shares	Rs.100/- Each	Rs.0.500 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		0.500	0.500	0.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.698	1.985	1.497
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.198	2.485	1.997
LOAN FUNDS
1] Secured Loans		13.114	0.973	1.053
2] Unsecured Loans		0.530	0.729	0.730
TOTAL BORROWING		13.644	1.702	1.783
DEFERRED TAX LIABILITIES		0.108	0.375	0.270
TOTAL		16.950	4.562	4.050
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		22.272	20.822	16.394
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	17.965	12.337	9.079
	Sundry Debtors	52.471	26.165	21.342
	Cash & Bank Balances	7.994	10.080	7.802
	Other Current Assets	0.000	0.249	0.473
	Loans & Advances	10.388	8.719	10.185
Total Current Assets		88.818	57.550	48.881
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	62.853	53.356	60.362
	Other Current Liabilities	30.840	19.704
	Provisions	0.447	0.750	0.865
Total Current Liabilities		94.140	73.810	61.227
Net Current Assets		(5.322)	(16.260)	(12.344)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		16.950	4.562	4.050

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	NA	NA	126.100
	PROFIT BEFORE TAX		NA	NA	1.477
Less	TAX		NA	NA	0.735
	PROFIT AFTER TAX		0.713	0.593	0.742
	Earnings Per Share (Rs.)		142	118	133

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	2.26
Return on Investment (ROI) (PBT/Networth)		NA	NA	0.74
Debt Equity Ratio (Total Liability/Networth)		33.70	30.39	31.55
Current Ratio (Current Asset/Current Liability)		0.94	0.78	0.80

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	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last one years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	-----
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
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 Flat No.-2, Pocket -5, Mayur Vihar, Phase-I, New Delhi- 10091, India to the present address w.e.f. 21.03.2007

FORM 8:

This form is for	Creation of charge
Corporate identity number of the company	U35303DL1996PTC075387
Name of the company	Super Cryogenic Systems Private Limited
Address of the registered office or of the principal place of business in India of the company	Flat No. 799, Pocket 5, Mayur Vihar Phase- I, Delhi- 110091, India prnoida@yahoo.co.in
Type of charge	Movable Property (not being pledge)
Particular of charge holder	Corporation Bank G-28/29, Sector- 18, Noida – 201301, Uttar Pradesh, India E-Mail: cb0501@corpbank.co.in
Nature of description of the instrument creating or modifying the charge	Agreement for hypothecation of Vehicles.
Date of instrument Creating the charge	15.12.2011
Amount secured by the charge	Rs.0.413 millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest Interest shall be charge 12% p.a. 1.35% over and above Corporation Bank base rate which is 10.65% p.a. as present, rising or falling therwith compounded with monthly rests. Terms of Repayment The corp. vehicles loan shall be repaid in 36 equated monthly installments of Rs.0.014 Million on or before 15^th of each month and starting from 15^th January, 2012. Margin As per sanction terms Extent and Operation of the charge Security for the due payment by the borrower to the Bank of the amount due to the Bank at any time under and by virtue of the agreement.
Short particulars of the property charged	Hypothecation of Brand New Toyota Model LIVA-G

FIXED ASSETS

· Air conditioner

· Crane

· Land and Site developments

· Building

· Plant and Machinery

· Generator

· Motor Car

· Office Automaton

· Scooter

· Cycle

· Water cooler

· Books (technical)

· Furniture

· Refrigerator

· Computer

· Photocopy Machine

· Television

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.54.88
UK Pound	1	Rs.86.46
Euro	1	Rs.69.49

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	NIT

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	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--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.