MIRA INFORM REPORT

Report Date :

01.10.2012

IDENTIFICATION DETAILS

Name :	TARANG KINETICS PRIVATE LIMITED
Registered Office :	C-20, Industrial Estate, Ram Nagar, Roorkee-247667, Uttaranchal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.06.1995
Com. Reg. No.:	20-018277
Capital Investment / Paid-up Capital :	Rs.0.940 Million
CIN No.: [Company Identification No.]	U36991UR1995PTC018277
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Electronic Instrument and Testing Machines Electronic Products and Components.
No. of Employees :	35 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 17000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. Trade relations are reported as fair. Business is active. Payments are reported to be slow. 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.

INFORMATION PARTED BY

Name :	Mr. Akshat
Designation :	Manger
Contact No.:	91-9760025259
Date :	21.09.2012

LOCATIONS

Registered Office / Factory :	C-20, Industrial Estate, Ram Nagar, Roorkee-247667, Uttaranchal, India
Tel. No.:	91-1332-264289 / 266959
Mobile No.:	91-9760025259 (Mr. Akshat)
Fax No.:	91-1332-265446/ 273259
E-Mail :	info@tarangkinetics.com tarangkinetics@gmail.com guptait1958@gmail.com
Website :	www.tarangkinetics.com
Location :	Owned

DIRECTORS

As on 29.09.2011

Name :

Mr. Anil Kumar Jain

Designation :

Director

Address :

42, Civil Lines, Roorkee, Haridwar – 247 667, Uttarakhand, India

Date of Birth/Age :

27.05.1954

Qualification :

BAC and LLB

Date of Appointment :

21.06.1995

Din No.:

01115663

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	U36991UR1995PTC018277	TARANG KINETICS PRIVATE LIMITED	Managing director	21/06/1995	21/06/1995	-	Active	NO
2	U74900DL1996PTC083268	JAI BHARAT INSTRUMENTS PRIVATE LIMITED	Managing director	14/11/1996	14/11/1996	-	Active	NO

Name :

Mrs. Veena Jain

Designation :

Director

Address :

42, Civil Lines, Roorkee, Haridwar – 247 667, Uttarakhand, India

Date of Birth/Age :

19.10.1961

Qualification :

MAC

Date of Appointment :

21.06.1995

Din No.:

01115749

KEY EXECUTIVES

Name :	Mr. Akshat
Designation :	Manger

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Anil Kumar Jain	69000
Veena Jain	24000
Jain Prakash Jain	1000
Total	94000

As on 29.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Electronic Instrument and Testing Machines Electronic Products and Components.
Products :	· Vibration Shaker System · Vibration Accessories · Shock Test Machine · Bump Test Machine · Centrifuge Machine for Acceleration
Exports :
Products :	Electronic Instrument and Testing Machines Electronic Products and Components.
Countries :	Vietnam
Imports :
Products :	Raw Material
Countries :	USA Germany China
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

GENERAL INFORMATION

Suppliers :

· Akshat Jain. Sly

· Anil Jain. Credit Card

· Anil Kumar Jain. Sly

· Asraf

· Bhatija Brothers

· B K Vinod and Company. Delhi

· Classic Interlunation, Nodia

· Exclusive Magnesium

· Garg Electronics. Roorkee

· G K Computers .Roorkee

· Hemkunt Bearing. Delhi

· Image Computers. Roorkee

· Jaj Bharat Instruments. Roorkee

· Quality Tools. Roorkee

Customers :

Wholesalers and Retailers

· Retailers Association of India

· Tata Motors

· B D L. Hyderabad Kanchanbag

· Deai Dehradun

· Gmopto Elec Factory

· Hal Kqrwa

· Hal Lucknoyy

· Hcl, Chennai

· Kernex Micron. Hyderabad

· Navnidhi Electronics

· Nutek Technologies Private Limited

· Ordinance Factory. Chandigarh

· Stop Chok Limited U K

· The Dir. Rci Mod Hyderabad

· United Electronics

· Digitech, Roorkee

No. of Employees :

35 (Approximately)

Bankers :

Union Bank of India, Branch Civil Lines, Roorkee - 247667, Uttaranchal, India

Facilities :

Cash Credit Rs.12.500 Millions (form Union Bank of India)

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Car Loan	0.039	0.159
UBI Book Debts [Secured by book debts, block of assets of the company]	0.283	0.501
UBI Cash Credit [Secured by hypothecation of stock, block of assets of the company]	0.000	0.907
UBI OD A/C	11.446	6.214
Total	11.768	7.781
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Anil Jain	0.930
Lord Mahavira	0.000
Veena Jain (Old)	0.556
Akshat Jain (Old)	0.275
Amnika Goel (Old)	0.164
Monika Gupta (Old)	0.109
Ram Bali (Old)	0.172
Ram Kumar Jain (Old)	0.200
R.K. Goyal (Old)	0.100
Rohit Agarwal (Old)	0.223
Total	2.729	2.273

Banking Relations :	--
Auditors :
Name :	Satyendra and Company Chartered Accountants
Address :	Shiv Complex, 12, Civil Lines, Roorkee - 247667, Uttarakhand, India
Tel. No.:	91-1332-271617
Mobile No.:	91-9837053399
Fax No.:	91-1332-275657
PAN.:	AARPG5708L

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
94000	Equity Shares	Rs.10/- each	Rs.0.940 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		0.940	0.940	0.940
2] Share Application Money		2.677	2.677	2.677
3] Reserves & Surplus		0.675	0.370	0.314
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.292	3.987	3.931
LOAN FUNDS
1] Secured Loans		11.768	7.781	8.132
2] Unsecured Loans		2.729	2.273	2.060
TOTAL BORROWING		14.497	10.054	10.192
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		18.789	14.041	14.123
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.718	1.348	1.562
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.830	0.818
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.697	13.616	11.673
	Sundry Debtors	8.978	2.659	2.653
	Cash & Bank Balances	0.008	0.039	0.036
	Other Current Assets	1.134	0.000	0.000
	Loans & Advances	0.834	0.739	0.828
Total Current Assets		26.651	17.053	15.190
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.306	3.157	2.869
	Other Current Liabilities	0.000	0.809	0.000
	Provisions	2.274	1.224	0.578
Total Current Liabilities		9.580	5.190	3.447
Net Current Assets		17.071	11.863	11.743
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		18.789	14.041	14.123

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Gross Receipts	28.284	22.756	16.625
		Other Income	0.044	0.051	0.056
		TOTAL (A)	28.328	22.807	16.681
Less	EXPENSES
		Raw Materials Consumed	14.113	11.071	7.308
		Manufacturing Expenses	4.461	3.473	3.327
		Administrative, Selling and Distribution Expenses	8.527	6.670	4.583
		TOTAL (B)	27.101	21.214	15.218
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.227	1.593	1.463
Less	FINANCIAL EXPENSES (D)		0.640	1.122	1.080
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.587	0.471	0.383
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.282	0.277	0.237
	PROFIT BEFORE TAX (E-F) (G)		0.305	0.194	0.146
Less	TAX (H)		0.000	0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		0.305	0.194	0.146
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.508	0.314	0.168
	BALANCE CARRIED TO THE B/S		0.813	0.508	0.314
	Earnings Per Share (Rs.)		3.24	2.06	1.55

Particulars	31.03.2012
Sales Turnover (Approximately)	25.000

Expected Sales (2012-13) : Rs.30.000 Millions

The above information has been parted by Mr. Akshat

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.08	0.85	0.88
Net Profit Margin (PBT/Sales)	(%)	1.08	0.85	0.88
Return on Total Assets (PBT/Total Assets}	(%)	1.08	1.05	0.87
Return on Investment (ROI) (PBT/Networth)		0.08	0.05	0.04
Debt Equity Ratio (Total Liability/Networth)		5.61	3.82	3.47
Current Ratio (Current Asset/Current Liability)		2.78	3.29	4.41

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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

OPERATIONS:

During the year the company was able to achieve a turnover of Rs.22.868 millions, keeping in the view the fact that it was Fourteenth year of the working of the company present progress seems to be quite satisfactory. The company expects to achieve better results during the forthcoming year.

TRADE REFERENCES

· Retailers Association of India

· Tata Motors

Bankers Charges Report as per Registry

Corporate identity number of the company	U36991UR1995PTC018277
Name of the company	TARANG KINETICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	C-20, Industrial Estate, Ram Nagar, Roorkee-247667, Uttaranchal, India guptait1958@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90275112
Type of charge	· Immovable property · Book debts · Movable property (not being pledge)
Particular of charge holder	Union Bank of India, Branch Civil Lines, Roorkee-247667, Uttaranchal, India piyush_kuchhal@yahoo.co.in
Nature of instrument creating charge	Composite hypothecation agreement sd-20
Date of instrument Creating the charge	12.12.2011
Amount secured by the charge	Rs.22.150 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As Per Agreement Terms of Repayment As Per Agreement Margin As Per Agreement Extent and Operation of the charge As Per Agreement
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of all tangible movable assets including plant and machinery, raw material, goods in process, finished goods, book debts, furnitures, fixtures, computers, vehicles etc equitable mortgage of factory land and building bearing Plot No. C-20, Industrial Estate Roorkee measuring 8382 sq. fts.
Date of instrument modifying the charge	17.03.2011
Particulars of the present modification	Total credit facilities increased from Rs.20.850 Millions to Rs.22.150 Millions as follows- Cc (Hypothecation) Rs.12.500 Millions, CC ADHOC Rs.3.000 Millions, term loan Rs.1.650 Millions, bg - Rs.5.000 Millions

FIXED ASSETS:

· Land

· Building

· Furniture and Fixtures

· Plant and Machinery

· Office Equipment

· Computer

· Testing Equipment

· Vehicles

· Inverter

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

Information Gathered by :	PJA
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.