MIRA INFORM REPORT

Report Date :

03.09.2012

IDENTIFICATION DETAILS

Name :	ANKUR TRADERS AND ENGINERS PRIVATE LIMITED
Registered Office :	R-29, [Back Side] Model Town, 3^rd Stop, New Delhi – 110009
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.09.2000
Com. Reg. No.:	55-107583
Capital Investment / Paid-up Capital :	Rs. 0.830 Million
CIN No.: [Company Identification No.]	U23209DL2000PTC107583
TAN No.: [Tax Deduction & Collection Account No.]	DELA11243B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of A.C Generators and Generating Sets.
No. of Employees :	73 (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 4700
Status :	Small Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. 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. Ankur
Designation :	Director
Contact No.:	91-9811444318
Date :	01.09.2012

LOCATIONS

Registered Office :	R-29, [Back Side] Model Town, 3^rd Stop, New Delhi – 110009, India
Tel. No.:	Not Available
Mobile No.:	91-9811444318 (Mr. Ankur Mahendru)
Fax No.:	Not Available
E-Mail :	dgsetankur@yahoo.co.in rkm.co@yahoo.com
Location :	Owned
Factory :	D-130, B.S. Road, Industrial Area, Site-1, Ghaziabad-201009, Uttar Pradesh, India
Tel. No.:	91-120-2705440/ 2705441/ 2851840/ 2853582/ 4156669
Fax No.:	91-120-2705441

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Ashok Mahendru
Designation :	Managing director
Address :	A-16, Ashok Nagar, Ghaziabad – 201001, Uttar Pradesh, India
Date of Birth/Age :	53 Years
Qualification :	Graduate
Date of Appointment :	15.07.2002
DIN No.:	01929146
Name :	Mr. Arun Mahendru
Designation :	Director
Address :	A-16, Ashok Nagar, Ghaziabad – 201001, Uttar Pradesh, India
Date of Birth/Age :	51 Years
Qualification :	Graduate
Date of Appointment :	17.09.2000
DIN No.:	01050780
Name :	Ms. Suman Mahendru
Designation :	Director
Address :	A-16, Ashok Nagar, Ghaziabad – 201001, Uttar Pradesh, India
Date of Birth/Age :	49 Years
Qualification :	Graduate.
Date of Appointment :	17.09.2000
DIN No.:	01078663

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Arun Mahendru	25000
Suman Ashok Mahendru	14900
Sangeeta Arun Mahendru	2510
Ashok O. Mahendru	33910
Sanjay O. Gupta	100
Ashok Mahendru HUF	2500
Arun Mahendru HUF	4000
Subrat Tirkha	100
Total	83020

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	99.70
Other top fifty shareholders	0.30
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of A.C Generators and Generating Sets.
Exports
Products :	A.C Generators and Generating Sets
Countries :	v Nepal v Asian Countries
Terms :
Selling :	Cash and Credit 30 Days to 60 Days
Purchasing :	Cash and Credit 30 Days to 60 Days

PRODUCTION STATUS AS ON (31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity *	Actual Production
Generator, Alternator, Pumpset, Engine etc.	Nos.	N.A.	1000	790

Note: * Installed capacity has been certified by the management and not verified by the auditors being mechanical matter.

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

73 (Approximately)

Bankers :

v State Bank of India, RASMECCC Industrial Estate, B.S. Road, Gaziabad – 201009, Uttar Pradesh, India

v HDFC Bank Limited

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
A ) Cash Credit Limited from State Bank of India (Secured against Hypothecation of stocks)	1.889	1.628
B ) From HDFC Bank (Secured against Hypothecation of car )	0.386	0.192
Total	2.275	1.820
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
(A) From Directors
- Arun Mahendru	0.009	0.008
- Suman Mahendru	0.237	0.287
- Ashok Mahendru	0.545	0.551
Total (A)	0.791	0.846
(B) From Others
- Ankur Mahendru	0.472	0.364
- Sanjay Gupta	0.100	0.100
- Arun Mahendru HUF	0.761	0.698
- Ashok Mahendru HUF	1.188	0.756
- Sangeeta Mahendru	0.577	0.815
- Suvrat Trikha	0.237	0.217
- Anshul Mahendru	0.256	0.235
Total (B)	3.591	3.185
Total (A) + (B)	4.382	4.031

Banking Relations :	--
Auditors :
Name :	Ramakant Maheshwari and Company Chartered Accountants
Address :	125, A, Chanderpuri, Vyapar Bhavan,Ghaziabad-201001, Uttar Pradesh-201001
Tel. No.:	91-120-2859229/ 28033780
Fax No.:	91-120-2856229
Income-tax PAN of auditor or auditor's firm :	ACHPM0584C
Associates/Subsidiaries :	Shahor Machinery Stores

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
83,020	Equity Shares	Rs.10/- each	Rs. 0.830 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		0.830	0.830	0.830
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.356	0.272	0.194
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.186	1.102	1.024
LOAN FUNDS
1] Secured Loans		2.275	1.820	2.317
2] Unsecured Loans		4.382	4.031	3.499
TOTAL BORROWING		6.657	5.851	5.816
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.843	6.953	6.840
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.635	2.407	2.683
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.102	0.089	0.080
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.540	3.965	4.147
	Sundry Debtors	1.468	1.201	1.148
	Cash & Bank Balances	0.108	0.080	0.072
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.313	0.274	0.488
Total Current Assets		6.429	5.520	5.855
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.272	0.975	1.621
	Other Current Liabilities	0.000	0.044	0.074
	Provisions	0.051	0.044	0.083
Total Current Liabilities		1.323	1.063	1.778
Net Current Assets		5.106	4.457	4.077
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.843	6.953	6.840

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	13.579	10.848	12.809
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	13.081	10.438	12.695
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.498	0.410	0.114
Less/ Add	DEPRECIATION/ AMORTISATION		0.375	0.295	0.000
	PROFIT BEFORE TAX		0.123	0.115	0.114
Less	TAX		0.039	0.037	0.068
	PROFIT AFTER TAX		0.084	0.078	0.046
	Earnings Per Share (Rs.)		1.02	0.94	0.55

Particulars	31.03.2012
Sales Turnover (Approximately)	14.000

Expected Sales ( 2012-2013 ) : More than Rs. 15.000 Millions

The above information has been parted by Mr. Ankur (Director)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.62	0.72	0.36
Return on Total Assets (PBT/Total Assets}	(%)	1.36	1.45	1.34
Return on Investment (ROI) (PBT/Networth)		0.10	0.10	0.11
Debt Equity Ratio (Total Liability/Networth)		6.73	6.27	7.42
Current Ratio (Current Asset/Current Liability)		4.86	5.19	3.29

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	Yes
17]	Major suppliers	No
18]	Major customers	No
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

BUSINESS OPRATIONS

During the year sale and other receipt of the Company increased from Rs.10.848 Millions to Rs.13.579 Millions. However, profit before tax was at same level from Rs.0.115 Million to 0.123 Million. The Company hopes to do better in the forth coming year.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U23209DL2000PTC107583
Name of the company	ANKUR TRADERS AND ENGINERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	R-29 [Back Side] Model Town 3rd Stop New Delhi – 110009, India E-Mail Id : rkm_co@yahoo.com
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	State Bank of India, RASMECCC Industrial Estate, B.S. Road, Ghaziabad- 201009, Uttar Pradesh, India E-Mail Id : jkscond@gmail.com
Nature of instrument creating charge	i). Loan cum hypothecation agreement ii).Arrangement letter
Date of instrument Creating the charge	27.04.2010
Amount secured by the charge	Rs. 0.450 Million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest to be charged at the rate of 10% p.a. on daily balance with monthly rests for first 3 years , thereafter Bank's regular interest will be applied Terms of repayment The loan is to be repaid in 5 years in equated monthly instalments of Rs. 0.015 Million each till entire loan with the interest is fully repaid. The first instalment commences from May'2010 Margin 22 % Extent and operation of the charge Hypothecation of car-Swift to be purchased out of the bank's loan. Noting of Bank's hypothecation charge in the books of RTO and the registration book will be essential in respect of finance.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Car-Swift to be purchased out of the bank's loan

FIXED ASSETS

v Land

v Building

v Plant and Machinery

v Furniture and Fixtures

v Office Equipments

v Tools and Testing Equipments

v Car

v Scooter and Motor Cycle

v Computer

v Delivery van

v Air Conditioner

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. 55.72
UK Pound	1	Rs. 87.95
Euro	1	Rs. 69.66

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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	YES
--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

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.