MIRA INFORM REPORT

PRELIMINARY REPORT

Report Date :

21.05.2012

IDENTIFICATION DETAILS

Name :	TEGH CABLES PRIVATE LIMITED
Registered Office :	196, Tegh House, Shaheed Bhagat Singh Co-operative Society Limited, Andheri (East), Mumbai-400059, Maharashtra
Country :	India
Financials (as on) :	31.03.2007
Date of Incorporation :	15.06.1995
Com. Reg. No.:	11-89566
CIN No.: [Company Identification No.]	U31300MH1995PTC089566
TAN No.: [Tax Deduction & Collection Account No.]	MUMT14815D
PAN No.: [Permanent Account No.]	AABCT1718N
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Cable Wires

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 500
Status :	Restored Operations Recently
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject had been non-operational since last 8 years and restarted operations form 01.04.2008 as claimed by the management. Trade relations are fair. Payments are however reported as usually made as per commitments. The company can be considered for small to mediocre business dealings, initially.

INFORMATION PARTED BY

Name :	Mr. Rajesh Shinde
Designation :	Accountant
Date :	19.09.2008

LOCATIONS

Registered Office :	196, Tegh House, Shaheed Bhagat Singh Co-operative Society Limited, Andheri (East), Mumbai-400059, Maharashtra, India
Tel. No.:	91-22-28312730/ 28312731/ 32977150/ 65236068/ 32002731/ 28203344/ 45/46
Mobile No.:	91-982000855
Fax No.:	91-22-28312732
E-Mail :	tc@teghcables.com , enquiry@teghcables.com
Website :	http://www.teghcables.com
Area :	2500 sq.ft ( Owned)
EXPORT OFFICE :
Mobile No.:	+971509364071/ 91-9820343431
Fax No.:	91-22-28312732
E-Mail :	karan@teghcables.com , Karan.polucab@gmail.com
Branches :	Located At:- · Surat · Kolkata · Chhattisgarh

DIRECTORS

Name :	Mr. Karandeep Surinder Sjngh Atal
Designation :	Additional Director
Address :	B-175/ Atal Nivas, Shahid Bhagat Singh Housing Society, J.B Nagar, Andheri (East), Mumbai-400059, Maharashtra, India
Date of Birth/Age :	16.10.1985
Date of Appointment :	18.04.2008
Name :	Mr. Surinder Sigh J Atal
Designation :	Director
Address :	175, Atal Nivas, Bhagatsingh Colony, J B Nagar, Andheri (East), Mumbai-400059, Maharashtra, India
Date of Birth/Age :	14.11.1953
Date of Appointment :	15.06.1995
Name :	Mrs. Gurdeep Kaur Atal
Designation :	Director
Address :	175, Atal Nivas, Bhagatsingh Colony, J B Nagar, Andheri (East), Mumbai-400059, Maharashtra, India
Date of Birth/Age :	29.09.1957
Date of Appointment :	15.06.1995
Name :	Mr. Banpreetsingh S Atal
Designation :	Director
Address :	175, Atal Nivas, Bhagatsingh Colony, J B Nagar, Andheri (East), Mumbai-400059, Maharashtra, India
Date of Birth/Age :	07.12.1982
Date of Appointment :	05.07.2001

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2005

Names of Shareholders	No. of Shares
Surendirsingh Atal	500
Gudepkaul S Atal	500
Total	1000

Equity Share Breakup (Percentage of Total Equity)

As on 29.09.2007

Category	Percentage
Directors or relatives of directors	100.000

BUSINESS DETAILS

Line of Business :	Trader of Cable Wires
Products :	· House Wires · FRLS Wires · Flexible Cables · Power/ Control Cables · Submersible Cables
Terms :
Selling :	Credit
Purchasing :	Credit

GENERAL INFORMATION

Customers :	Wholesalers
No. of Employees :	50
Bankers :	· Punjab and Sind Bank, Andheri (East), Mumbai, India · Standard Chartered Bank, Andheri (East) · HDFC Bank
Facilities :	CC Rs.50.000 Millions From Punjab and Sind Bank CC RS. 40.000 Millions From Standard Chartered Bank CC Rs. 120.000 Millions from HDFC Bank

Banking Relations :	--
Auditors :
Name :	Virendra R Gandhi and Company Chartered Accountant
Address :	310, Dattani Trade Centre, Chandavarkar Road, Boirivali (West), Mumbai-400092, Maharashtra, India
Associates/Subsidiaries :	Tegh Cables

CAPITAL STRUCTURE

As on 29.09.2007

Authorised Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs. 100/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value		Amount
1000	Equity Shares	Rs. 100/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.100	0.100	0.100
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.098
2] Unsecured Loans		0.006	0.018	0.881
TOTAL BORROWING		0.006	0.018	0.979
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.106	0.118	1.079
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.046
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	0.000	0.000	0.768
	Sundry Debtors	0.000	0.000	0.008
	Cash & Bank Balances	0.001	0.001	0.007
	Other Current Assets	0.000	0.000	0.205
	Loans & Advances	0.000	0.005	0.000
Total Current Assets		0.001	0.006	0.988
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.018	0.011	0.032
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.018	0.011	0.032
Net Current Assets		[0.017]	[0.005]	0.956
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
Profit and Loss Account		0.123	0.123	0.077
TOTAL		0.106	0.118	1.080

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007	31.03.2006
Sales Turnover	0.006	0.000
Other Income	0.00	0.000
Total Income	0.006	0.000
Profit/(Loss) Before Tax	0.000	[0.045]
Provision for Taxation	0.000	0.000
Profit/(Loss) After Tax	0.000	[0.045]
Total Expenditure	0.006	0.045

KEY RATIOS

PARTICULARS		31.03.2007	31.03.2006	31.03.2005
PAT / Total Income	(%)	NA	NA	NA
Net Profit Margin (PBT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	[750.00]	NA
Return on Investment (ROI) (PBT/Networth)		NA	0.45	NA
Debt Equity Ratio (Total Liability/Networth)		0.24	0.29	10.11
Current Ratio (Current Asset/Current Liability)		0.06	0.55	30.88

LOCAL AGENCY FURTHER INFORMATION

History:

Subject was incorporated in the year 1995 and was in operations till 2000. The company seized opertions in 2000 and a new Partnership Concern was started under the name of the Tegh Cables in the year 2002. However the management restarted commercial activities under the name Tegh Cables Private Limited w.e.f. 01.04.2008 and expects a combined turnover of Rs. 1250.000 Millions (Including sister concern) during the year 2008-09.

The company is planning to increase its paid-up capital to Rs. 10.000 Millions for which the application would be filed with the Government department today, as confirmed by Mr. Rajesh Shinde. (Accountant of the company)

Notes:

The Registered office of the company has been shifted form 105, Mahavir Building, 44/46, Popatwadi, Kalbadevi Road, Mumbai-400002, Maharashtra, India to present address w.e.f 18.04.2008

Trade References:

· Kalpatru Properties

· Glenmark Pharma

Bankers Charges Report as per Registry

Name of the company	TEGH CABLES PRIVATE LIMITED
Presented By	Jointly company and Chargholder
1) Date and description of instrument creating the change	Hypothecation of goods to secure Demand Cash Credit dated 03.07.1998
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 1.000 Million
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Stock of electrical cables which now or hereafter from time to time be stored at the company’s godowns or premises at Sai Warehouse, Denor Bus Depot, Chembur or wherever else the same may be
4) Gist of the terms and conditions and extent and operation of the charge.	(i) Security to be available as first charge (ii) Interest @ 8.5% over RBI rate with a minimum of 17.5% p.a. or such other rates as fixed by the bank form time to time. (iii) Security to cover principal amount together with interest, costs, charges, expenses etc. (iv) Bank to have power of entry, power to appoint receiver, power of sale etc.
5) Name and Address and description of the person entitled to the charge.	Punjab and Sind Bank, Andheri (East), Mumbai
6) Date and brief description of instrument modifying the charge	Not Applicable
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Applicable

M/S TEGH CABLES

(Sister Concern)

Balance Sheet

As on 31.03.2008

SOURCES OF FUNDS		31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		13.740
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		13.740
LOAN FUNDS
1] Secured Loans		0.510
2] Unsecured Loans		21.600
TOTAL BORROWING		22.110
DEFERRED TAX LIABILITIES		0.000
TOTAL		35.857
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.253
Capital work-in-progress		0.000
INVESTMENT		6.455
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	60.839
	Sundry Debtors	141.200
	Cash & Bank Balances	2.533
	Other Current Assets	0.000
	Loans & Advances	5.223
Total Current Assets		209.795
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	182.646
	Provisions	0.000
Total Current Liabilities		182.646
Net Current Assets		27.149
MISCELLANEOUS EXPENSES		0.000
TOTAL		35.857

PROFIT AND LOSS ACCOUNT

FOR YEAR ENDED 31.03.2008

PARTICULARS		31.03.2008
Sales Turnover		442.061
Other Income		1.492
Total Income		443.553
Profit/(Loss) Before Tax		5.656
Provision for Taxation		0.000
Profit/(Loss) After Tax		5.656
Expenditures :
	Cost of Goods Sold	401.049
	Office Expenses	0.131
	Electricity Expenses	0.174
	Commission	2.250
	Salaries, Wages, Bonus, etc.	4.286
	Managerial Remuneration
	Interest	2.486
	Depreciation & Amortization	0.523
	Other Expenditure	434.888
Total Expenditure		437.897

KEY RATIOS

PARTICULARS		31.03.2008
PAT / Total Income	(%)	1.27
Net Profit Margin (PBT/Sales)	(%)	1.27
Return on Total Assets (PBT/Total Assets}	(%)	2.66
Return on Investment (ROI) (PBT/Networth)		0.41
Debt Equity Ratio (Total Liability/Networth)		14.90
Current Ratio (Current Asset/Current Liability)		1.15

AS PER WEBSITE:

PROFILE:

Subject take this privilege to introduce themselves as the Authorised Distributor of M/s. POLYCAB WIRES PRIVATE LIMITED One of the leading manufacturers of Wires and Cables in the country having the highest turnover among all the Cables Manufacturers for the financial year 2006-2007 

As global technology distribution is becoming more customer focused to help resellers and manufacturers succeed, Tegh Cables are at the forefront of this evolution by continuously implementing faster and more innovative ways to help resellers, manufacturers and others to meet their customer's demands. 

Started in 1980 and till date they have focused on high value added services to the customer by the day to day marketing, logistics and sales department and by continuously upgrading the self according to the changing scenario, they have enhanced the clientele by continuously conducting market surveys and getting adapted to the changing trend

The clientelelist indudes the growing sectors like Steel, Power, Petrochemicals, Defence, Pharmaceuticals, Automobile, FMCG, Textile, Cement, Chemical, Reputed Builders, Developers, Contractors, Electrical Engineering Companies and many more. They focus on high value added, high technology products and are able to completely cater to the customized needs of the clients by customer value, customer cost, customer convenience and customer communication. They give value added service to the clients by registering the self to “Excise” which allows them to pass on subsequent Modvat to consumers and as “Polycab” being situated in Daman which is on absolute Tax free zone. 

They are please to inform you that since the manufacturing unit is located in Daman, you will be provided with a tax benefit against form “C” which would definitely give you a price advantage. They assure to give the clients not only the best prices but also good service and satisfaction. They now look forward to the favorable consideration and a line in confirmation is sincerely solicited.

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 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. 54.87
UK Pound	1	Rs. 86.46
Euro	1	Rs. 69.48

INFORMATION DETAILS

Report Prepared by :

SDA

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	Unfavourable & favourable factors carry similar weight in credit consideration. 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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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.