MIRA INFORM REPORT

Report Date :

01.10.2012

IDENTIFICATION DETAILS

Name :	MAYOOR PRESSINGS PRIVATE LIMITED

Registered Office :	Plot No. W-16, F-II Block, MIDC, Pimpri, Pune-411018, Maharashtra

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	28.12.1995

Com. Reg. No.:	11-095668

Capital Investment / Paid-up Capital :	27195 Euro

CIN No.: [Company Identification No.]	U27105MH1995PTC095668

TAN No.: [Tax Deduction & Collection Account No.]	PNEM01902F PNEM09339B

PAN No.: [Permanent Account No.]	AABCM2592H

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturing of Auto Parts Pressings and Fabrication.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

Maximum Credit Limit :	EURO 22700

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

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 :	Plot No. W-16, F-II Block, MIDC, Pimpri, Pune-411018, Maharashtra, India
Tel. No.:	91-20-27472809/27458390
Fax No.:	91-20-27489218
E-Mail :	smgovardhanco@rediffmail.com mayoorperssing@vsnl.net

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Naseem Dilawar Shaikh

Designation :

Director

Address :

14, Madni Society, 30, Ghorpadi Peth, Pune-411042, Maharashtra, India

Date of Birth/Age :

14.08.1964

Date of Appointment :

20.10.1996

Din No.:

00199011

Other Directorship:

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

Company/ LLP Status

Defaulting status

U27105MH1995PTC095668

MAYOOR PRESSINGS PRIVATE LIMITED

Director

20/10/1996

Active

U22110PN1998PTC012871

NAVYUG PRODUCTS PRIVATE LIMITED

Director

02/03/2005

Dormant

Name :

Anjum Irfan Khan

Designation :

Director

Address :

451/4, Salisbury Park, Pune-411042, Maharashtra, India

Date of Birth/Age :

23.09.1984

Date of Appointment :

19.12.2002

Din No.:

00199035

Other Directorship:

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

Company/ LLP Status

Defaulting status

U27105MH1995PTC095668

MAYOOR PRESSINGS PRIVATE LIMITED

Director

19/12/2002

Active

U22110PN1998PTC012871

NAVYUG PRODUCTS PRIVATE LIMITED

Director

02/03/2005

Dormant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders		No. of Shares
Naseem Dilawar Shaikh		15750
Anjum Irfan Khan		2750

TOTAL		18500

AS ON 30.09.2011

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Auto Parts Pressings and Fabrication.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· The Thane Janata Sahakari Bank Limited, Masulkar Colony Branch, Pimpri, Pune-411019, Maharashtra, India

· Vidya Sahakari Bank Limited, S. No. 1355, P. No. 72, Natu Baug, Shukrawar Peth, Through Its Navi Peth Branch, LBS Road, Pune-411030, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 [In Euro]	As on 31.03.2010 [In Euro]
Vidya Sahakari Bank Limited	305069	275934
TOTAL	305069	275934

Unsecured Loan	As on 31.03.2011 [In Euro]	As on 31.03.2010 [In Euro]
From Directors
N.D. Shaikh	117977	114580
Anjum D. Shaikh	46670	38875
Loans From Others
Sharif Wajir Shaikh	14602	000
Cholamandalam Finance Limited	000	674
TOTAL	179249	154129


Banking Relations :	--

Auditors :
Name :	S.M. Govardhan and Company Chartered Accountants
Address :	55/56, Navi Peth, LBS Road, Opposite Happy House, Pune-411030, Maharashtra, India
PAN No:	ABHFS6370F

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	1.47 Euro Each	36750 Euro

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18500	Equity Shares	1.47 Euro Each	27195 Euro

FINANCIAL DATA

[all figures are in Euro]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		27195	27195	27195
2] Share Application Money		000	000	000
3] Reserves & Surplus		86319	59777	43398
4] (Accumulated Losses)		000	000	000
NETWORTH		113514	86972	70593
LOAN FUNDS
1] Secured Loans		305069	275934	435113
2] Unsecured Loans		179249	154129	33360
TOTAL BORROWING		484318	430063	468473
DEFERRED TAX LIABILITIES		5684	5684	5684

TOTAL		603516	522719	544750

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		132122	136804	145869
Capital work-in-progress		000	000	000

INVESTMENT		10450	8340	8340
DEFERREX TAX ASSETS		1327	773	178

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	629784	752571	875798
	Sundry Debtors	394030	253259	219888
	Cash & Bank Balances	689	2133	3765
	Other Current Assets	4471	8541	173115
	Loans & Advances	000	9216	14459
Total Current Assets		1028974	1025720	1287025
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	472981	587992	847259
	Other Current Liabilities	941	872	000
	Provisions	95425	60045	49394
Total Current Liabilities		569347	648909	896653
Net Current Assets		459627	376811	390372

MISCELLANEOUS EXPENSES		000	000	000
OTHERS		(10)	(9)	(9)

TOTAL		603516	522719	544750

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1466000	1122573	1342647
		Other Income	705	6088	NA
		TOTAL	1466705	1128661	NA

Less	EXPENSES
		Office Expenses
		Administrative Expenses	1418192	1090265	NA
		Advertising Expenses
		TOTAL	1418192	1090265	NA

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		48513	38396	37308

Less/ Add	DEPRECIATION/ AMORTISATION		18411	18911	15514

	PROFIT / (LOSS) BEFORE TAX		30102	19485	21794

Less	TAX		3558	3118	13809

	PROFIT / (LOSS) AFTER TAX		26544	16367	7985

	Earnings / (Loss) Per Share (Rs.)		1434.81	884.70	431.62

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.81	1.45	NA

Net Profit Margin (PBT/Sales)	(%)	2.05	1.74	1.62

Return on Total Assets (PBT/Total Assets}	(%)	2.59	1.67	1.52

Return on Investment (ROI) (PBT/Networth)		0.27	0.22	0.31

Debt Equity Ratio (Total Liability/Networth)		9.28	12.40	19.34

Current Ratio (Current Asset/Current Liability)		1.81	1.58	1.44

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 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	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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U27105MH1995PTC095668
Name of the company	MAYOOR PRESSINGS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. W-16, F-II Block, MIDC, Pimpri, Pune-411018, Maharashtra, India
Type of charge	Book Debts Movable Property [not being pledge] Floating Charge
Particular of charge holder	Vidya Sahakari Bank Limited, S. No. 1355, P. No. 72, Natu Baug, Shukrawar Peth, Through Its Navi Peth Branch, LBS Road, Pune-411030, Maharashtra, India
Email	hemali_cs@rediffmail.com
Nature of description of the instrument creating or modifying the charge	Agreement of hypothecation of movable property dated on 30th August 2011
Date of instrument Creating the charge	30.08.2011
Amount secured by the charge	Euro 44117
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 16% p. a. or at such rate may be prescribed by the bank from time to time with quarterly/ half yearly rests Terms of Repayment Repayment within three months from the date of disbursement Margin As per agreement Extent and Operation of the charge The charge is created on the movable properties of the company Others Type of facility: ADHOC cash credit limit
Short particulars of the property charged	The borrower doth do hereby hypothecate in favour of bank all tangible movable property including the stocks for the time being whether new or manufacture or in the process of manufacturing and Every tangible movable property/ machinery/plant (both present or future) belonging to the borrower and lying and being at the borrowers place of business at W-16, F-II Block, MIDC, Bhosari and All the book debts, outstanding, monies, receivable, claims and bills as securities for due repayment to the bank.

FIXED ASSETS:

· Land

· Factory Building

· Machinery

· Computer

· Tools

· Furniture

· Air Conditioner

· Pattern and Fixtures

· Technical Knowhow

· EOT Crane

· Computer Software

· Mobile

· Vehicles

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.52.70
UK Pound	1	Rs.85.71
Euro	1	Rs.68.15

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		44

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.

MIRA INFORM REPORT

629784

394030

689

4471

000

1028974

472981

941

95425

569347

459627

1.81

2.05

2.59

0.27

9.28

1.81

Unit