MIRA INFORM REPORT

Report Date :

07.11.2012

IDENTIFICATION DETAILS

Name :	R P FOAM HOME PRIVATE LIMITED
Registered Office :	1, Gandhi Square, Malka Ganj, New Delhi -11007
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	19.03.1987
Com. Reg. No.:	55-027352
Capital Investment/ Paid-up Capital:	Rs.19.000 Millions
CIN No.: [Company Identification No.]	U74899DL1987PTC027352
TIN NO.:	GN0006617 GN5063081
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Polyurethane Foam Mattresses Pillows, Cushions, Bolsters, Sheets, Rolls and Allied Articles.
No. of Employees:	Not Available

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 99000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The profitability of the company appears to be low. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	1, Gandhi Square, Malka Ganj, New Delhi -11007, India
Tel. No.:	91-11-23855282
Fax No.:	Not Available
E-Mail :	dreams@rpfoam.com pankajgupta@rpfoam.com
Head Office :	4415 –Street Bahujee, Bahadur Garh Road, Sadar Bazar, Delhi -110006, India
Tel. No.:	91-11-49797900-14
Fax No.:	Not Available
E-Mail :	91-11-23514144
Factory:	Main G.T Road, Village, Chithedha, Tehsil Dadri, Gautam Buddh Nagar, Uttar Pradesh, India
Tell No.:	91-0120-2662083/2662206

DIRECTORS

As on 30.09.2011

Name :

Mr. Pankaj Gupta

Designation :

Director

Address :

1, Gandhi Square, Malka Ganj, New Delhi -11007, India

Date of Birth/Age :

02.10.1975

Date of Appointment :

01.04.1999

Din No.:

00094486

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1987PTC027352	R P FOAM HOME PVT LTD	Director	01/04/1999	01/04/1999	-	Active	NO
2	U74900DL2007PTC162725	R P DISTILLERIES PRIVATE LIMITED.	Director	30/04/2007	30/04/2007	-	Active	NO

Name :

Mr. Ram Prasad Gupta

Designation :

Director

Address :

1, Gandhi Square, Malka Ganj, New Delhi -11007, India

Date of Birth/Age :

01.07.1950

Date of Appointment :

19.03.1987

Din No.:

00094576

Name :

Rani Gupta

Designation :

Director

Address :

1, Gandhi Square, Malka Ganj, New Delhi -11007, India

Date of Birth/Age :

12.03.1952

Date of Appointment :

19.03.1987

Din No.:

00094618

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Ram Prasad Gupta	280
Rani Gupta	290
Pankaj Gupta	430
Navrekha Commotrade Private Limited, India	7000
Prijat Commodeal Private Limited, India	10000
Finlord Marketing Private Limited, India	5000
Trimline Vyapar Private Limited , India	19000
Goldmoon Fiscal Service Limited, India	8000
Mahadhan Vyapar Private Limited , India	5000
Anita Apartments Private Limited , India	5000
Garlon Vinimay Private Limited , India	50000
Carwin Mercantile Private Limited , India	10000
Ramganga Tracon Private Limited , India	20000
Muraat Properties Private Limited , India	30000
Haridwar Traders Private Limited , India	20000
Total	190000

As on 31.03.2012

Names of Allottees	No. of Shares
Ram Prasad Gupta	12500

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies corporate	99.47
Directors or relatives of directors	0.53
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Polyurethane Foam Mattresses Pillows, Cushions, Bolsters, Sheets, Rolls and Allied Articles.

Product:

ITEM CODE NUMBER	PRODUCT DESCRIPTION
94041000	94041000

PRODUCTION STATUS As on 31.03.2011

Particulars	Unit	Actual Production
Polyurethane Foam		31,72,271.70

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	· Canara Bank, Sadar Bazar, Delhi - 110006, Delhi, India · ICICI Bank, Sadar Bazar, Delhi - 110006, Delhi, India

Banking Relations :	--
Auditors :
Name :	Jitendra Anil and Company Chartered Accountant
Address :	M-4, Munish Plaza, 20, Ansari Road, Daryaganj, New Delhi – 110002, India
Tel. No.:	91-11-2327 5348
Pan No.:	AALPJ0220C
Related Party :	· R. P. Distillery Private Limited · Foam Home

CAPITAL STRUCTURE

As On 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
230000	Equity Shares	Rs.100/- each	Rs.23.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
202500	Equity Shares	Rs.100/- each	Rs.20.250 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.100/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
190000	Equity Shares	Rs.100/- each	Rs.19.000 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		19.000	19.000	19.000
2] Share Application Money		0.800	0.000	0.000
3] Reserves & Surplus		4.861	3.477	2.186
04] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		24.661	22.477	21.186
LOAN FUNDS
1] Secured Loans		63.636	30.219	18.184
2] Unsecured Loans		14.744	8.665	14.001
TOTAL BORROWING		78.380	38.884	32.185
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		103.041	61.361	53.371
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		33.975	25.397	18.557
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	37.574	32.153	19.922
	Sundry Debtors	36.817	35.670	40.223
	Cash & Bank Balances	43.739	4.482	4.018
	Other Current Assets	31.244	18.332	15.922
	Loans & Advances	39.761	35.515	15.903
Total Current Assets		189.135	126.152	95.988
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	76.402	59.455	51.397
	Other Current Liabilities	43.471	30.588	9.570
	Provisions	0.196	0.145	0.207
Total Current Liabilities		120.069	90.188	61.174
Net Current Assets		69.066	35.964	34.814
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		103.041	61.361	53.371

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	377.359	345.834	284.885
Less	EXPENSES		375.338	343.901	283.590
		TOTAL
	PROFIT BEFORE TAX		2.021	1.933	1.295
Less	TAX		0.636	0.642	0.710
	PROFIT AFTER TAX		1.385	1.291	0.585
	Earnings Per Share (Rs.)		7.29	6.79	3.08

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.37	0.37	0.21
Return on Total Assets (PBT/Total Assets}	(%)	0.91	1.28	1.13
Return on Investment (ROI) (PBT/Networth)		0.08	0.09	0.06
Debt Equity Ratio (Total Liability/Networth)		8.04	5.74	4.41
Current Ratio (Current Asset/Current Liability)		1.58	1.40	1.57

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
Promoters 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 the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes
Date of Birth of Proprietor/Partner/Director, if available	Yes
PAN of Proprietor/Partner/Director, if available	No
Voter ID No of Proprietor/Partner/Director, if available	No
External Agency Rating, if available	No

FORM 8

Corporate identity number of the company	U74899DL1987PTC027352
Name of the company	R P FOAM HOME PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1, Gandhi Square, Malka Ganj, New Delhi -11007, India Email: rohitkcjain@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90037233
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	Canara Bank, Sadar Bazar, Delhi - 110006, Delhi, India Email: ca_rcg@yahoo.co.in
Nature of instrument creating charge	Bank's Letter dated 18.09.2012
Date of instrument Creating the charge	18.09.2012
Amount secured by the charge	Rs. 35.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest @ 4% p.a. above ongoing Base Rate of the Bank ie 14.75% p.a. at present at monthly rests. Term of Payment: Payable on demand. Margin 25% against stocks and 40% against book-debts up to 90 days. Extent and operation of the charge 100% Others: To secure all amounts payable under reduced OCC/ODBD limit of Rs. 35.000 Millions granted to/enjoyed by the Company consequent upon the liquidation of liability under an adhoc enhancement of Rs. 15.000 Millions granted on 24.07.2012.
Short particulars of the property charged (Including location of the property)	a)The whole of the borrower's present and future stock of raw-materials, goods-in-process of manufacture and all finished and manufactured goods and articles such as PU Foam and allied items etc. together with all stores, components and spares which now belong to or may hereafter from time to time, during the continuance of this security belong to the borrower and which are or shall or may bebrought into, stored or be in or upon or about the borrower's factory godowns and/or other premises at Village Chikehra, Main G.T. Road, Tehsil - Dadri, Distt. Gautam Budh Nagar (UP) and 4415, Gali Bahuji, Pahari Dhiraj, Delhi-110006 or wherever else the same may be situated, stored or lying or being including any such raw-materials, articles or goods, stores, spares and components or other similar moveable property in course of transit or delivery. b)All the borrower's present & future book-debts, outstandings, money receivables, claims, bills, rights to or in moveable properties and moveable assets and which are now due, owing or payable or belonging to the borrower or which may at any time hereafter during the continuance of this security become due, owing, payable or belonging to the borrower in the course of its business as security. Collaterally secured by equitable mortgage of immovable properties of the company situated at Village Chikehra, Dadri, Distt. Gautam Budh Nagar (UP).
Date of last modification prior to the present modification	24.07.2012
Particulars of the present modification	The OCC/ODBD limit stands reduced from Rs. 50.000 Millions to Rs. 35.000 Millions consequent upon the liquidation of liability under an adhoc enhancement of Rs. 15.000 Millions granted to the Company. Other terms and conditions remained the same.

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 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.54.60
UK Pound	1	Rs.87.31
Euro	1	Rs.69.86

INFORMATION DETAILS

Report Prepared by :

BYI

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	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	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	-

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.