MIRA INFORM REPORT

Report Date :

27.11.2012

IDENTIFICATION DETAILS

Name :	GANPATI MOULDERS PRIVATE LIMITED
Registered Office :	26 Vasant Nagar Trimurty Chowk, Jawahar Colony, Aurangabad - 431001, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	11.10.2005
Com. Reg. No.:	21-156824
Capital Investment / Paid-up Capital :	Rs. 7.760 Millions.
CIN No.: [Company Identification No.]	U25206MH2005PTC156824
Legal Form :	Private Limited Liability Company
Line of Business :	Supplier and Manufacturer of Injection Mouldings Plastic Parts, PVC Sleeves, Injection Mould, PVC Mould, etc.
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 70000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a established company having moderate track record. The financial detail for the current year is missing from the government department. And from the previous year record the profitability of the company appear to be low. However, trade relations are reported to be fair. Business is active. Payments are unknown. The company can be considered for business dealing 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 :	26 Vasant Nagar Trimurty Chowk, Jawahar Colony, Aurangabad - 431001, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	devendraring@gmail.com
Corporate Office / Factory:	Unit No. 311, 3rd Floor, Gut No.-937, Sompuri Road, Bidkin Talpaithan, Aurangabad - 431006, Gujarat, India
Mobile No.:	91-9225149013 (Mr. Prakash B. Sonavhni)

DIRECTORS

As on: 30.09.2011

Name :

Mr. Rajkumar Narayandas Laddha

Designation :

Director

Address :

26 Vasant Nagar, Trimurty Chowk, Jawahar Colony, Aurangabad – 431005, Maharashtra, India

Date of Birth/Age :

23.11.1971

Date of Appointment :

11.10.2005

DIN No.:

00299129

Name :

Mr. Nitin Madanlal Khandelwal

Designation :

Director

Address :

Near Hanuman Temple, Adarsh Colony, Akola- 444001, Maharashtra, India

Date of Birth/Age :

09.02.1966

Date of Appointment :

01.03.2008

DIN No.:

01784920

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	U25206MH2005PTC156824	GANPATI MOULDERS PRIVATE LIMITED	Director	01-03-08	01-03-08	-	Active	NO
2	U74990MH2008NPL188773	GJF EVENTS AND PROMOTIONS FEDERATION	Director	12-04-09	12-04-09	01-04-11	Active	NO
3	U28112MH2010PTC201696	KHANDELWAL ORNAMENTS PRIVATE LIMITED	Director	05-04-10	05-04-10	-	Active	NO
4	U15400MH2010PTC208491	VIREN FOODS AND BEVERAGES PRIVATE LIMITED	Director	01-10-10	01-10-10	-	Active	NO
5	U27205MH2010PTC211541	KHANDELWAL JEWELLERS (AKOLA) PRIVATE LIMITED	Director	29-12-10	29-12-10	-	Active	NO
6	U91990MH2005NPL154999	ALL INDIA GEMS AND JEWELLERY TRADE FEDERATION	Director	01-04-11	01-04-11	-	Active	NO
7	U74120MH2012PTC231591	CHINTAMANI HOUSING AND INFRASPACES PRIVATE LIMITED	Director	29-05-12	29-05-12	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Rajkumar N. Laddha	63000
Shyamsundar N. Laddha	130500
Gopaldas N. Laddha	80000
Kamalkishor N. Laddha	89500
Padma N. Laddha	25000
Nitin Khandelwal	168950
Ravi Khandelwal	168950
Prabha Khandelwal	50
Ekta Khandelwal	50
Realstone Exports Private Limited, India	12500
Rigveda Properties Limited, India	15000
Duralloy Cutters Limited, India	10000
Candy Filters (Bombay) Limited, India	6250
Citybase Multitrade Private Limited, India	6250
Total	776000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2011

Category	Percentage
Bodies corporate	6.00
Directors or relatives of directors	94.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Supplier and Manufacturer of Injection Mouldings Plastic Parts, PVC Sleeves, Injection Mould, PVC Mould, etc
Products :	· Injection Mouldings Plastic Parts · PVC Sleeves · Injection Mould · PVC Mould

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

The Saraswat Co-operative Bank Limited, Waluj Branch, Pandharpur, Aurangabad – 431003, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Saraswat Co-operative Bank Limited
Term Loan	37.693	28.397
Secured By Mortgage of Land and Building and Hypothecation of Plant and Machinery, Vehicle and Personal Guarantee of Directors.
Overdraft/Cash Credit	23.034	18.558
Hypothecation of Stock and Personal Guarantee of Directors.
Total	60.727	46.955
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Directors and Share Holders	33.014	13.127
Total	33.014	13.127

Banking Relations :	--
Auditors :
Name :	S.B. Jaju and Associates Chartered Accountants
Address :	2, Second Floor, Gopinath Chambers, Adalat Road, Near Chunnilal Petrol Pump, Aurangabad - 431005, Maharashtra, India
Telefax. No.:	91-240-2332688
Mobile No.:	91-9325132688
E-Mail :	satishjaju@sify.com sbj_associates@yahoo.co.in
PAN No.:	AAQPJ5314C

CAPITAL STRUCTURE

As on: 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
776000	Equity Shares	Rs.10/- each	Rs. 7.760 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		7.760	7.760	2.921
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		11.982	9.178	(1.655)
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		19.742	16.938	1.266
LOAN FUNDS
1] Secured Loans		60.727	46.955	20.733
2] Unsecured Loans		33.014	13.127	17.505
TOTAL BORROWING		93.741	60.082	38.238
DEFERRED TAX LIABILITIES		0.022	0.752	(0.235)
DEFERRED CREDITOR AGAINST FIXED ASSETS		0.000	10.542	12.436
TOTAL		113.505	88.314	51.705
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		64.436	58.453	24.671
Capital work-in-progress		3.787	0.617	0.157
INVESTMENT		0.025	0.025	0.025
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	46.810	11.226	4.850
	Sundry Debtors	54.535	21.675	8.367
	Cash & Bank Balances	0.252	0.147	0.004
	Other Current Assets	3.730	6.104	19.798
	Loans & Advances	3.687	9.488	0.869
Total Current Assets		109.014	48.640	33.888
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	58.155	16.803	2.081
	Other Current Liabilities & Provisions	5.602	2.642	5.003
Total Current Liabilities		63.757	19.445	7.084
Net Current Assets		45.257	29.195	26.804
MISCELLANEOUS EXPENSES		0.000	0.024	0.048
TOTAL		113.505	88.314	51.705

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	237.000	116.300	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	236.300	113.600	NA
	PROFIT BEFORE TAX		0.700	2.700	NA
Less	TAX		(0.600)	1.400	NA
	PROFIT AFTER TAX		1.300	1.300	NA
	Earnings Per Share (Rs.)		1.67	1.67	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.55	1.12	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.40	2.52	NA
Return on Investment (ROI) (PBT/Networth)		0.04	0.16	NA
Debt Equity Ratio (Total Liability/Networth)		7.98	4.69	NA
Current Ratio (Current Asset/Current Liability)		1.71	2.50	NA

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
5]	Type of Business	Yes
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 two years	Yes
12]	Profitability for last two 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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U25206MH2005PTC156824
Name of the company	GANPATI MOULDERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	26 Vasant Nagar, Trimurty Chowk, Jawahar Colony, Aurangabad, Maharashtra, India devendraring@gmail.com
This form is for	Creation of charge
Type of charge	· Book debt · Movable property (not being pledge) · Floating charge
Particular of charge holder	The Saraswat Co-operative Bank Limited, Waluj Branch, Pandharpur, Aurangabad – 431003, Maharashtra, India pg_devi@saraswatbank.com
Nature of instrument creating charge	Agreement of hypothecation of moveable property
Date of instrument Creating the charge	03.07.2012
Amount secured by the charge	Rs. 5.600 Millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of interest 13.50 % PA IE PLR - 1 % Terms of repayment To be repaid within 60 months as under; 1. 59 monthly installments of Rs. 0.093 Millions 2. last installment of Rs.0. 113 Millions Margin Plant and Machinery = 25 % Extent and operation of the charge The charge will be operative till the total loan amount along with interest, commission, charges, expenses, commission are repaid by the company
Short particulars of the property or assets charged (including complete address and location of the property)	All type of stocks, book debts, plant and machinery and all other moveable assets of the company

FIXED ASSETS

· Land and Site Development

· Building

· Plant and Machinery

· Electrical Installation

· Factory Equipment

· Computer Equipment

· Furniture and Fixture

· Office Equipments

· Vehicle

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. 55.69
UK Pound	1	Rs. 89.20
Euro	1	Rs. 72.10

INFORMATION DETAILS

Report Prepared by :

UDS

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.