MIRA INFORM REPORT

Report Date :

24.05.2012

IDENTIFICATION DETAILS

Name :	GMP TECHNICAL SOLUTION PRIVATE LIMITED (w.e.f. 21.02.2008)
Formerly Known As :	QA TECHNICAL SERVICES (INDIA) PRIVATE LIMITED
Registered Office :	3^rd Floor, Swastik Disa Business Park, LBS Marg, Behind Wadhani Industrial Estate, Ghatkopar (west) Mumbai- 400 086, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.09.2003
Com. Reg. No.:	11-142312
Capital Investment / Paid-up Capital :	Rs. 0.141 Million
CIN No.: [Company Identification No.]	U74999MH2003PTC142312
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Steel Demountable partitioning systems and doors.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (64)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 2200000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an well established and reputed company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealing 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 :	3^rd Floor, 309-316Swastik Disa Business Park, LBS Marg, Behind Wadhani Industrial Estate, Ghatkopar (west)- 400 086 Mumbai, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	mk_moorthy@vascon.com preetiagarwal@vascon.com info@gmptech.net sales@gmptech.net
Website :	http://www.gmpartitions.net
Mumbai Office :	Mehra Industrial Estate, Asha Usha Compound, opp. Union Bank of India, LBS Marg, Vikhroli (West), Mumbai – 4000083, Maharashtra, India
Tel. No.:	91-22-2518180
Fax No.:	91-22-25718179
Factory 1:	Gunia Road Mandhala, via Barotiwala, Kasauli, Salon - 174103, Himachal Pradesh, India
Tel No. :	91-1792-253101 / 05 / 253072 / 85
Fax No. :	91-1792-253072
Goa Office:	L-73, Verna Industrial Estate, Verna Saalcette - 403722, Goa, India
Tel No. :	91-832-6690305
Fax No. :	91-832-6690304

DIRECTORS

As on 26.09.2011

Name :

Mr. Doraiwamy R Santhanam

Designation :

Additional Director

Address :

502, Radon, Zircon, Viman Nagar, Pune – 411014, Maharashtra, India

Date of Birth/Age :

21.05.1962

Date of Appointment :

20.10.2010

DIN No.:

00226569

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	U70100MH1996PTC101856	KANCHI PROPERTIES PRIVATE LIMITED	Director	20/08/1997	20/08/1997	-	Active	NO
2	U29299PN1993PTC072266	VATSALYA ENGINEERS PRIVATE LIMITED	Director	17/10/1997	17/10/1997	-	Amalgamated	NO
3	U70101MH1996PTC099872	BELLFLOWER PREMISES PRIVATE LIMITED	Director	3/10/2001	3/10/2001	-	Active	NO
4	U70100MH1995PTC092645	PARADISE PREMISES PRIVATE LIMITED	Director	3/10/2001	3/10/2001	-	Amalgamated	NO
5	U45102PN1994PTC083125	VIOLA PROPERTIES PRIVATE LIMITED	Director	3/10/2001	3/10/2001	-	Amalgamated	NO
6	U70100MH1988PTC047485	HAMCON ENGINEERS PRIVATE LIMITED	Director	3/10/2001	3/10/2001	-	Active	NO
7	U45202MH1995PTC092653	DELPHI DWELLINGS PRIVATE LIMITED	Director	3/10/2001	3/10/2001	-	Amalgamated	NO
8	U51900MH1992PTC069148	VATSALYA ENTERPRISES PRIVATE LIMITED	Director	3/10/2001	3/10/2001	10/12/2010	Active	NO
9	U45201PN2001PTC019652	JUST HOMES (INDIA) PRIVATE LIMITED	Director	28/03/2002	28/03/2002	-	Active	NO
10	U45201PN2002PTC019651	CHERRY CONSTRUCTION PRIVATE LIMITED	Director	8/10/2002	8/10/2002	-	Active	NO
11	U72200MH2001PTC133725	IT-CITI INFOPARK PRIVATE LIMITED	Director	15/05/2003	15/03/2003	-	Active	NO
12	U45201PN2002PTC019653	GOLDEN DWELLINGS PRIVATE LIMITED	Director	15/05/2003	15/05/2003	-	Active	NO
13	U45200PN2003PTC022310	GOLDEN FLATS PRIVATE LIMITED	Director	15/05/2003	15/05/2003	-	Active	NO
14	U45202MH2002PTC137122	GOLDEN DWELLINGS PRIVATE LIMITED	Director	15/05/2003	15/05/2003	-	Dormant	NO
15	U45200MH2003PTC138748	GOLDEN FLATS PRIVATE LIMITED	Director	15/05/2003	15/05/2003	-	Not Available for eFiling	NO
16	U70100PN1997PTC133546	COSMOS PREMISES PRIVATE LIMITED	Director	18/02/2004	18/02/2004	-	Active	NO
17	U70100MH1997PTC105806	THISTLE PROPERTIES PRIVATE LIMITED	Director	5/03/2004	5/03/2004	-	Amalgamated	NO
18	U55101PN2005PTC020138	VIORICA HOTELS PRIVATE LIMITED	Director	11/01/2005	11/01/2005	6/03/2010	Active	NO
19	U70102PN2006PTC128507	ROSE PREMISES PRIVATE LIMITED	Director	25/05/2006	25/05/2006	-	Active	NO
20	U45209PN2006PTC128538	CALYPSO PREMISES PRIVATE LIMITED	Director	31/05/2006	31/05/2006	29/09/2010	Active	NO
21	U70102PN2006PTC128857	ANGELICA PROPERTIES PRIVATE LIMITED	Director	8/08/2006	8/08/2006	-	Active	NO
22	U45209PN2006PTC128875	FLORIANA PROPERTIES PRIVATE LIMITED	Director	11/08/2006	11/08/2006	-	Active	NO
23	U45209PN2006PTC128883	WIND FLOWER PROPERTIES PRIVATE LIMITED	Director	11/08/2006	11/08/2006	-	Active	NO
24	U29100PN2006PTC128876	SYRINGA ENGINEERS PRIVATE LIMITED	Director	11/08/2006	11/08/2006	2/03/2010	Active	NO
25	U45201PN1996PTC099857	MARIGOLD PREMISES PRIVATE LIMITED	Director	1/12/2006	1/12/2006	-	Active	NO
26	U74210PN2003PTC019585	VASTECH CONSULTANTS PRIVATE LIMITED	Director	1/12/2006	1/12/2006	-	Active	NO
27	U92490PN2005PTC020202	CORE FITNESS PRIVATE LIMITED	Director	1/12/2006	1/12/2006	-	Active	NO
28	U45202PN2007PTC129496	SPACE CENTRIC MARKETING AND CONSTRUCTION CONSULTANCY PRIVATE LIMITED	Director	18/01/2007	18/01/2007	10/03/2011	Active	NO
29	U45201MH2006PTC163672	MUMBAI ESTATES PRIVATE LIMITED	Director	28/09/2007	15/03/2007	-	Active	NO
30	U70100MH1995PTC093794	NAGOAN RESORTS PRIVATE LIMITED	Director	1/04/2007	1/04/2007	-	Active	NO
31	U45201TZ2007PLC013596	VASCON PRICOL INFRASTRUCTURES LIMITED	Director	2/04/2007	2/04/2007	-	Active	NO
32	U45202PN2007PTC130841	ASTER PREMISES PRIVATE LIMITED	Director	12/10/2007	12/10/2007	1/07/2010	Active	NO
33	U70101PN2008PTC131219	CARNATION PREMISES PRIVATE LIMITED	Director	1/01/2008	1/01/2008	-	Active	NO
34	U70102PN2008PLC131230	VASCON INFRASTRUCTURE LIMITED	Director	3/01/2008	3/01/2008	1/04/2011	Active	NO
35	U41000PN2009PTC135223	SSK JAL TECHNOLOGY PRIVATE LIMITED	Director	30/12/2009	30/12/2009	17/07/2010	Active	NO
36	U45202PN2007PTC129495	SUNFLOWER HEALTH SERVICES PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
37	U52520MH2001PTC130447	ONE-STOP SHOP INDIA PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	15/03/2011	Active	NO
38	U45200MH2005PTC154682	MARVEL HOUSING PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
39	U55101MH1973PTC017019	SAMEER PREMISES PVT LTD	Additional director	17/08/2010	17/08/2010	-	Active	NO
40	U70101PN2008PTC131237	GREYSTONE PREMISES PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
41	U55101PB2010PTC034309	CANYON SILVER HOTELS PRIVATE LIMITED	Director	27/09/2010	27/09/2010	-	Active	NO
42	U74999MH2003PTC142312	GMP TECHNICAL SOLUTIONS PRIVATE LIMITED	Additional director	20/10/2010	20/10/2010	-	Active	NO
43	U45200MH2002PTC135617	GOLDEN NESTS DEVELOPERS PRIVATE LIMITED	Additional director	1/04/2011	1/04/2011	-	Active	NO
44	U29290MH1960PLC059367	ALMET CORPORATION LIMITED	Director	1/06/2011	7/05/2011	-	Active	NO
45	U24110MH1984PTC034809	MARATHAWADA REALTORS PRIVATE LIMITED	Director	1/06/2011	7/05/2011	-	Active	NO
46	U85100MH1995PTC094853	JOHN FOWLER OPHTHALMICS PRIVATE LIMITED	Director	1/06/2011	7/05/2011	4/11/2011	Active	NO

Name :

Mr. Krishnamurthy N Muthuswamy

Designation :

Additional Director

Address :

Flat No 503, Atria, Zircon, Viman Nagar, Pune – 411014, Maharashtra, India

Date of Birth/Age :

10.06.1960

Date of Appointment :

20.10.2010

DIN No.:

00037763

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	U45200MH2005PTC154838	DAFFODIL PROJECTS PRIVATE LIMITED	Director	11/01/2006	11/01/2006	-	Active	NO
2	U45200MH2005PTC154682	MARVEL HOUSING PRIVATE LIMITED	Director	11/01/2006	11/01/2006	-	Active	NO
3	U45200MH2005PTC154769	FLORA FACILITIES PRIVATE LIMITED	Director	11/01/2006	11/01/2006	-	Active	NO
4	U72200MH2005PTC154957	ONBOARD SOLUTIONS PRIVATE LIMITED	Director	11/01/2006	11/01/2006	-	Amalgamated	NO
5	U55209MH2005PTC155010	CASPIA HOTELS PRIVATE LIMITED	Director	11/01/2006	11/01/2006	-	Active	NO
6	U45200MH2005PTC154825	VASCON DWELLINGS PRIVATE LIMITED	Director	11/01/2006	11/01/2006	-	Active	NO
7	U45201MH2006PTC163672	MUMBAI ESTATES PRIVATE LIMITED	Director	28/09/2007	11/08/2006	-	Active	NO
8	U74210PN2003PTC019585	VASTECH CONSULTANTS PRIVATE LIMITED	Director	1/12/2006	1/12/2006	-	Active	NO
9	U92490PN2005PTC020202	CORE FITNESS PRIVATE LIMITED	Director	1/12/2006	1/12/2006	-	Active	NO
10	U45201PN1996PTC099857	MARIGOLD PREMISES PRIVATE LIMITED	Director	1/12/2006	1/12/2006	-	Active	NO
11	U45202PN2007PTC129495	SUNFLOWER HEALTH SERVICES PRIVATE LIMITED	Director	18/01/2007	18/01/2007	-	Active	NO
12	U45202PN2007PTC129496	SPACE CENTRIC MARKETING AND CONSTRUCTION CONSULTANCY PRIVATE LIMITED	Director	18/01/2007	18/01/2007	-	Active	NO
13	U45201TZ2007PLC013596	VASCON PRICOL INFRASTRUCTURES LIMITED	Director	2/04/2007	2/04/2007	-	Active	NO
14	U45209PN2006PTC128538	CALYPSO PREMISES PRIVATE LIMITED	Director	21/04/2007	21/04/2007	29/09/2010	Active	NO
15	U45202PN2007PTC130841	ASTER PREMISES PRIVATE LIMITED	Director	12/10/2007	12/10/2007	1/07/2010	Active	NO
16	U85100MH1995PTC094853	JOHN FOWLER OPHTHALMICS PRIVATE LIMITED	Director	29/09/2008	15/10/2007	4/11/2011	Active	NO
17	U24110MH1984PTC034809	MARATHAWADA REALTORS PRIVATE LIMITED	Director	29/09/2008	15/10/2007	-	Active	NO
18	U29290MH1960PLC059367	ALMET CORPORATION LIMITED	Director	29/09/2008	15/10/2007	-	Active	NO
19	U45209PN2006PTC128883	WIND FLOWER PROPERTIES PRIVATE LIMITED	Additional director	31/03/2008	31/03/2008	-	Active	NO
20	U45209PN2006PTC128875	FLORIANA PROPERTIES PRIVATE LIMITED	Additional director	31/03/2008	31/03/2008	-	Active	NO
21	U70102PN2006PTC128507	ROSE PREMISES PRIVATE LIMITED	Additional director	31/03/2008	31/03/2008	-	Active	NO
22	U70100MH1988PTC047485	HAMCON ENGINEERS PRIVATE LIMITED	Additional director	11/08/2008	11/08/2008	-	Active	NO
23	U01122PN2009PTC134907	LILAC AGRO FARMS AND PROPERTIES PRIVATE LIMITED	Director	3/11/2009	3/11/2009	-	Active	NO
24	U01122PN2009PTC134999	WHITE LILY AGRO FARMS AND PROPERTIES PRIVATE LIMITED	Director	17/11/2009	17/11/2009	-	Active	NO
25	U55101PN2009PTC134998	CHLORIS HOTELS PRIVATE LIMITED	Director	17/11/2009	17/11/2009	-	Active	NO
26	U41000PN2009PTC135223	SSK JAL TECHNOLOGY PRIVATE LIMITED	Director	30/12/2009	30/12/2009	17/07/2010	Active	NO
27	U70101PN2008PTC131219	CARNATION PREMISES PRIVATE LIMITED	Additional director	31/05/2010	31/05/2010	-	Active	NO
28	U70200MH2007PTC167590	NV PROJECTS PRIVATE LIMITED	Director	25/09/2010	17/08/2010	-	Active	NO
29	U70100PN1997PTC133546	COSMOS PREMISES PRIVATE LIMITED	Director	17/08/2010	17/08/2010	-	Active	NO
30	U45201PN2004PTC019443	SYNERGY DEVELOPMENT CORPORATION PRIVATE LIMITED	Director	17/08/2010	17/08/2010	-	Active	NO
31	U70100MH1995PTC093794	NAGOAN RESORTS PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
32	U70100MH1996PTC101856	KANCHI PROPERTIES PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
33	U72200MH2001PTC133725	IT-CITI INFOPARK PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
34	U70101MH1996PTC099872	BELLFLOWER PREMISES PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
35	U55101PN1988PTC014224	CONAMORE RESORTS PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
36	U55101PB2010PTC034309	CANYON SILVER HOTELS PRIVATE LIMITED	Director	27/09/2010	27/09/2010	-	Active	NO
37	U74999MH2003PTC142312	GMP TECHNICAL SOLUTIONS PRIVATE LIMITED	Additional director	20/10/2010	20/10/2010	-	Active	NO
38	U55101PN2005PTC020138	VIORICA HOTELS PRIVATE LIMITED	Additional director	1/04/2011	1/04/2011	12/09/2011	Active	NO

Name :

Mr. Siddarth V Moorthy

Designation :

Additional Director

Address :

303, Redwood, Vatsalya, Bunglow No. 1315 Wood , Koregaon Park, Pune – 411001, Maharashtra, India

Date of Birth/Age :

20.12.1985

Date of Appointment :

20.10.2010

DIN No.:

02504124

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	U70102PN2008PLC131230	VASCON INFRASTRUCTURE LIMITED	Managing director	1/04/2011	6/02/2009	-	Active	NO
2	U29100PN2006PTC128876	SYRINGA ENGINEERS PRIVATE LIMITED	Additional director	2/03/2010	2/03/2010	-	Active	NO
3	U55101PN2005PTC020138	VIORICA HOTELS PRIVATE LIMITED	Director	12/09/2011	6/03/2010	-	Active	NO
4	U41000PN2009PTC135223	SSK JAL TECHNOLOGY PRIVATE LIMITED	Additional director	17/07/2010	17/07/2010	-	Active	NO
5	U45209PN2006PTC128883	WIND FLOWER PROPERTIES PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
6	U45200MH2002PTC135617	GOLDEN NESTS DEVELOPERS PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	1/04/2011	Active	NO
7	U24110MH1984PTC034809	MARATHAWADA REALTORS PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	1/04/2011	Active	NO
8	U85100MH1995PTC094853	JOHN FOWLER OPHTHALMICS PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	1/04/2011	Active	NO
9	U29290MH1960PLC059367	ALMET CORPORATION LIMITED	Additional director	17/08/2010	17/08/2010	1/04/2011	Active	NO
10	U45202MH2002PTC136014	GOLDFIELDS HABITAT PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Converted to LLP and dissolved	NO
11	U01122PN2009PTC134999	WHITE LILY AGRO FARMS AND PROPERTIES PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
12	U01122PN2009PTC134907	LILAC AGRO FARMS AND PROPERTIES PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
13	U45201PN2001PTC019652	JUST HOMES (INDIA) PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
14	U45201PN2002PTC019653	GOLDEN DWELLINGS PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
15	U45209PN2006PTC128875	FLORIANA PROPERTIES PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
16	U55101PN2009PTC134998	CHLORIS HOTELS PRIVATE LIMITED	Additional director	17/08/2010	17/08/2010	-	Active	NO
17	U74999MH2003PTC142312	GMP TECHNICAL SOLUTIONS PRIVATE LIMITED	Additional director	20/10/2010	20/10/2010	-	Active	NO
18	U51900MH1992PTC069148	VATSALYA ENTERPRISES PRIVATE LIMITED	Additional director	10/12/2010	10/12/2010	-	Active	NO
19	U45202PN2007PTC129496	SPACE CENTRIC MARKETING AND CONSTRUCTION CONSULTANCY PRIVATE LIMITED	Additional director	10/03/2011	10/03/2011	-	Active	NO
20	U45201PN2002PTC019651	CHERRY CONSTRUCTION PRIVATE LIMITED	Whole-time director	7/03/2012	13/02/2012	-	Active	NO

Name :

Mr. Ajay Bhalchandra Mehta

Designation :

Director

Address :

101 Kagdipura, Behind Chhatripura Police Station, Indor – 452002, Madhya Pradesh, India

Date of Birth/Age :

10.01.1971

Date of Appointment :

03.03.2008

DIN No.:

00436908

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	U28920MH2005PTC155573	G M PARTITIONS PRIVATE LIMITED	Director	1/12/2005	1/12/2005	-	Amalgamated	NO
2	U74999MH2003PTC142312	GMP TECHNICAL SOLUTIONS PRIVATE LIMITED	Director	30/09/2008	3/03/2008	-	Active	NO

Name :

Mr. Prasant Vishnu Kavale

Designation :

Director

Address :

C-701, Sattelite Garden, Filmcity Road, Goregaon (East), Mumbai – 400063, Maharashtra, India

Date of Birth/Age :

27.07.1972

Date of Appointment :

04.05.2009

DIN No.:

02626965

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	U74999MH2003PTC142312	GMP TECHNICAL SOLUTIONS PRIVATE LIMITED	Director	30/09/2009	4/05/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2011

Names of Shareholders	No. of Shares
Vascon Engineers Limited, India	12689
Ajay Bhalchandra Mehta	353
Mamta Ajay Mehta	353
Prasant Vishnu Kavale	705
Total	14100

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2011

Category	Percentage
Bodies corporate	90.00
Directors or relatives of Directors	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Steel Demountable partitioning systems and doors.

PRODUCTION STATUS As on 31.03.2011

Particulars	Actual Production
Double Door	8876
Sinqle Door	12687
Panels	102139

GENERAL INFORMATION

Customer:

· Alkem Laboratories

· Biodeal Pharmaceuticals

· Acme Formulation

· Ankur Drugs and Pharma Limited

· Cipla Limited Goa

· Cipla Limited Baddi

· Cipla Limited Patalganga

· Cipla Limited Kurkumbh

· Cipla Limited Banglore

· Cipla Limited Sikkim

· Carnation (Zydus Cadilla)

· Health Biotech

· Quality Chemicals Industry Limited

· Serum Institute

· Zydus Healthcare

· Zandu Pharmaceutical Works Limited

· Merck Limited

· Okasa Pharma

No. of Employees :

Not Available

Bankers :

· Axis Bank , Showroom No. 45, 46, 47 Fauji Complex, Sai Road, Dist. Solan Baddi – 173205, Himanchal Pradesh, India

· Bank of Maharashtra, Lokmangal – 1501, Shivaji Nagar, Pune – 411005, Maharashtra, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans others secured	(A) 87.769	0.000
Loans taken for vehicles secured	(B) 0.926	0.000
Total	88.695	0.000
Note: (A) Secured by hypothecation of present and future current assets of the company and equitable mortagage of company's factory land and building (Unit I and Unit II) situated at Baddi and Corporate Guarantee of Vascon Engineers Limited (B) Secured by hypothecation of Motor Vehicle
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans others unsecured	264.599	58.900
Interest accrued due other debt unsecured	8.632	1.935
Total	273.231	60.835

Banking Relations :	--
Auditors :
Name :	Chandrashekhar Iyer and Company Chartered Accountant
Address :	14, Anuroop CHS Limited, Samatanager, Jekegram, P.O Thane – 400606, Maharashtra, India
PAN.:	AAJPI9814M
Holding Company:	Vasco Engineers Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs. 10/- each	0.500 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14100	Equity Shares	Rs. 10/- each	0.141 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		0.141	0.141	0.141
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		561.706	660.351	458.057
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		561.847	660.492	458.198
LOAN FUNDS
1] Secured Loans		88.695	0.000	0.000
2] Unsecured Loans		273.231	60.835	0.000
TOTAL BORROWING		361.926	60.835	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	3.841
TOTAL		923.773	721.327	462.039
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		441.241	439.529	339.341
Capital work-in-progress		1.752	12.401	7.340
INVESTMENT		1.500	1.500	15.066
DEFERREX TAX ASSETS		8.226	(3.403)	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	90.557	67.031	44.707
	Sundry Debtors	474.590	378.319	386.199
	Cash & Bank Balances	46.774	32.205	17.907
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	331.375	249.111	208.611
Total Current Assets		943.296	726.666	657.424
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	95.474	159.024	111.148
	Other Current Liabilities	139.210	105.481	329.940
	Provisions	237.558	190.861	116.777
Total Current Liabilities		472.242	455.366	557.865
Net Current Assets		471.054	271.300	99.559
MISCELLANEOUS EXPENSES		0.000	0.000	0.733
TOTAL		923.773	721.327	462.039

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL (A)	1410.684	1258.784
Less	EXPENSES
		Office Expenses	NA	NA
		Administrative Expenses	NA	NA
		Advertising Expenses	NA	NA
		TOTAL (B)	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		228.571	304.832
Less/ Add	DEPRECIATION/ AMORTISATION (F)		656.330	409.750
	PROFIT BEFORE TAX (E-F) (G)		162.938	263.857
Less	TAX (I)		28.371	64.563
	PROFIT AFTER TAX (G-I) (J)		134.567	199.294
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		657.276	457.982
Less	APPROPRIATIONS
		Transfer to General Reserve	13.457	0.000
		Dividend	199.994	0.000
		Tax on Dividend	33.217	0.000
	BALANCE CARRIED TO THE B/S		545.175	657.276
	EARNINGS IN FOREIGN CURRENCY		40.399	77.433
	Earnings Per Share (Rs.)		954.37	14.13

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	9.54	15.83	NA
Return on Total Assets (PBT/Total Assets}	(%)	17.27	36.31	NA
Return on Investment (ROI) (PBT/Networth)		0.29	0.39	NA
Debt Equity Ratio (Total Liability/Networth)		0.84	0.69	1.22
Current Ratio (Current Asset/Current Liability)		1.98	1.59	1.18

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

OPERATIONS:

The Gross Income from operations for the year was Rs.141068.400 Millions, resulting in a Net profit after tax and prior Year’s adjustment of Rs.13456.700 Millions.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74999MH2003PTC142312
Name of the company	GMP TECHNICAL SOLUTIONS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	3^rd Floor, Swastik Disa Business Park, LBS Marg, Behind Wadhani Industrial Estate, Ghatkopar (west)- 400 086 Mumbai, Maharashtra, India Email: mk_moorthy@vascon.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10253639
Type of charge	Immovable property
Particular of charge holder	Axis Bank , Showroom No. 45, 46, 47 Fauji Complex, Sai Road, Dist. Solan Baddi – 173205, Himanchal Pradesh, India Email: baddi.branchhead@axisbank.com
Nature of instrument creating charge	Modification Letter and Sanctioned Latter on 19.03.2012 and Supplemental Deed for grant/continue to grant the revised Principal facility on 20th March 2012, by way of modification which was previously modified on 26.09.2011 and was originally created on 29.09.2010.
Date of instrument Creating the charge	20.03.2012
Amount secured by the charge	Rs. 475.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 3.00% above Base rate i.e. 13% at present or as advised by the Bank from time to time. Terms of Repayment On Demand Margin Raw Material - 25%, Stock in process - 25%, Finished Goods and Packing Material - 25%, Stores and Spares - 25%, Book Debts - Cover period 120 day's - 40%. Extent and Operation of the charge To continue the existing security for Rs. 175.000 Millions. by way of Cash Credit and Bank Guarantee of Rs. 300.000 Millions :- LCBD (sub limit within CC) 100.000 Millions And ILC/FLC (sub-limit within BG) only
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Mortgage of Company's immovable property situated at village Kunharanwala Tehsil, Baddi District, Salal (HP) and consisting of property admeasuring about 48 Bigha 18 Biswa with intent to create security in favour of axis Bank Limited. All property specified under First Schedule and Second schedule of Declaration Cum Confirmation Deed for Extension of mortgage.
Date of instrument modifying the charge	26.09.2011
Particulars of the present modification	Facility (Rs. in Millions) Current limit Revised Limits Cash Credit 175.0 175.0 LCBD (sub limit within CC) 100.0 100.0 ILC/FLC (sub-limit within CC) 100.0 0.00 BG 300.0 300.0 ILC/FLC (sub-limit within BG) 0.00 100.0 Total 475.0 475.0

contingent liabilities 31.03.2011

a) Claims against the company not acknowledged as debt Rs 59.500 Millions ( Previous Year Rs.NIL )

b) Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs. 0.124 Millions (net off advances) (Previous year Rs.6.716 Millions)

c) Guarantees given by banks on behalf of the company Rs. 71.188 Millions (Previous Year Rs. 49.184 Millions)

d) Letter of credit Rs. 1.741 Millions (Previous Year Rs.4.196 Millions)

Fixed Assets

· Machinery

· Building

· Furniture

· Utilities

· Vehicle

· Computer

· Electricity Fitting

· Office Equipment

· Factory Plot

· Leasehold Land

AS PER WEBSITE DETAILS

The Company

Subject is an ISO 9001:2000 Certified company and is one of the largest manufacturers of Steel Demountable Partitioning Systems and doors within the Indian subcontinent.

GMP was established in 2005 under the Indian companies Act and commenced production on 1st October, 2006. GMP has a 80,000 sq. ft. manufacturing area with an overall supportive infra-structural area of 2,50,000 sq. ft. which is fully equipped with the latest CNC/ NC manufacturing equipment. GMP houses its own Epoxy Polyester powder coating/wet coating plant.

The strategic location of the facility at the foothills of Himachal Pradesh, offers a ZERO Excise Duty. This benefits our clients and enables GMP to offer a competitive pricing structure.

All GMP products are manufactured under one roof and subsequently all metal forming, finishes, extrusions, form rolling and assembly are completed in-house. With the result that specific requirements of our clients can be incorporated into a proposed design/ product requirement

The capacity of the manufacturing facility results into timely delivery and prompt technical support by a net of skilled persons across the country and abroad.GMP products are under third party testing/ design appraisals, to achieve conformance with the following international criteria’s and standards:

They have team strength of over 300 employees across country with offices in Mumbai, Baddi, Goa. Very Soon They will be starting our operation in Indore and Sikkim to service our client. Highly Qualified Engineers and architectures from our team who design and execute our project having worldclass projects  

They value bright, hardworking people who know their input will add value to our organization. If you're a hard-working go-getter, who is raring to join a company that offers best

PROJECT:

Cipla Ltd, Sikkim.

• Cleanroom partitions for ISO class 8 and class 7, with BMS, Networking, laboratory furniture.

Golden Cross Pharma Private Limited, Sikkim

• Cleanroom partitions for ISO class 8 and class 7 with BMS, Fire Alarm system, CCTV, AHU’s, networking and telecom, laboratory and conference room furniture.

Zydus Cadilla. Sikkim

• Cleanroom partitions.

Cipla Ltd, Indore SEZ

• Cleanroom partitions for ISO class 8 and class 7, BMS, Fire Alarm System, CCTV, Public address system, telecom, mobile storage racks.

Givaudan, Mumbai

• Turnkey Solutions including Civil, HVAC, Electricals and networking.

Vergo Research Pharma

• Turnkey Solutions including Architectural, Civil, HVAC, Electricals, Networking.

Ankur Drugs

• Cleanroom partitions for Quality Chemicals, Uganda
• Cleanroom partitions for ISO class 8.

Watson, Goa

• Cleanroom partitions.

AMALGAMATION:

12^th December 2007

The Registrar of Companies

100, Everest

Marine Drive

Mumbai - 400 002

Ref: Allotment of Shares pursuant to the Scheme of Amalgamation

Dear Sir,

The Hon'ble High Court of Judicature at Bombay approved the scheme of Amalgamation of M/s. QA Technical Services (India) Private Limited (Transferee Company having CIN No. U74999MH2003PTC142312) with M/s. G M Partitions Private Limited (Transferor Company having CIN No. U28920MH2005PTC155573) vide its order dated 28^th September 2007. The said order was electronically filed with the Registrar of Companies vide Form 21 on 29^th October 2007 vide SRN No. A25205592 and A25206152 for Transferor Company and Transferee Company respectively. Accordingly the Scheme has become effective from 2gth October 2007 and M/s. G M Partitions Private Limited (Transferor Company having CIN No. U28920MH2005PTC155573) has been amalgamated with M/s. QA Technical Services (India) Private Limited, (Transferee Company having CIN No. U74999MH2003PTCl42312).

Vide Fresh Certificate of Incorporation consequent upon change of name dated 26^th November 2007 issued by Ministry of Corporate Affairs, the name of the Transferee Company (CIN No. U74999MH2003PTC142312) was changed from M/s. QA Technical Services (India) Private Limited to MIS. G M Partitions Private Limited.

In terms of Scheme of Amalgamation of M/s. G M Partitions Private Limited (Transferor Company) with M/s. QA Technical Services (India) Private Limited (Transferee Company), the Board of Directors of the Transferee Company had fixed 29^th October 2007 as Record Date for the purpose of determining the Shareholders of the M/s. G M Partitions Private Limited (Transferor Company CIN No. - U28920MH2005PTC155573) entitled to receive Equity Shares of Transferee Company.

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.55.93
UK Pound	1	Rs.88.14
Euro	1	Rs.70.87

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	YES
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		64

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.