MIRA INFORM REPORT

Report Date :

18.09.2012

IDENTIFICATION DETAILS

Name :	NEO HY-LAMINATES PRIVATE LIMITED
Registered Office :	E-136, First Floor, Shastri Nagar, New Delhi-110052
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.07.1991
Com. Reg. No.:	55-44955
Capital Investment / Paid-up Capital :	Rs. 2.500 Millions
CIN No.: [Company Identification No.]	U74899DL1991PTC044955
TAN No.: [Tax Deduction & Collection Account No.]	DELN06061G
PAN No.: [Permanent Account No.]	AAACN0890N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Decorative Laminates, HPB (High Pressure Laminates), Industrial Laminates Kitchen door panels and door skin.
No. of Employees :	55 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 104000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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	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 [GENERAL DETAILS]

Name :	Mr. Sharma
Designation :	Accounts Manager
Contact No.:	91-11-23653649
Date :	12.09.2012

LOCATIONS

Registered Office :	E-136, First Floor, Shastri Nagar, New Delhi-110052, India
Tel. No.:	91-11-23653647/23653648/23653649/23653650
Fax No.:	91-11-23653647
E-Mail :	neo@neohy.com laminates@vsnl.com cagrbansal@gmail.com akfriends@indiatimes.com
Website :	http://www.neony.com
Area :	1000 sq. ft.
Location:	Owned
Administrative Office :	B-4/56A, Kesahav Purma, Lawrence Road, New Delhi-110035, India
Tel. No.:	91-11-27194200/ 27105879
Fax No.:	91-11-27195879
E-Mail :	neo@neohy.com laminates@vsnl.com
Factory :	Village Gandhra District, Rohtak, 15 K.M. Mile Stone, Haryana, India
Tel. No.:	91-1262-322985
Area :	Owned

DIRECTORS

AS ON 20.09.2011

Name :

Mr. Arvind Kumar Jain

Designation :

Director

Address :

D-157, Block D, Ashok Vihar PH-1, New Delhi-110052, India

Date of Birth/Age :

01.01.1953

Date of Appointment :

01.03.2011

Din No.:

03459106

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	Company/ LLP Status	Defaulting status
1	U74899DL1991PTC044955	NEO HY-LAMINATES PRIVATE LIMITED	Director	20/09/2011	01/03/2011	Active	NO

Name :

Mr. Himanshu Jain

Designation :

Director

Address :

E-103, Ashok Vihar, PH-1, New Delhi-110052, India

Date of Birth/Age :

15.04.1983

Date of Appointment :

01.03.2011

Din No.:

03459112

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	Company/ LLP Status	Defaulting status
1	U74899DL1991PTC044955	NEO HY-LAMINATES PRIVATE LIMITED	Director	20/09/2011	01/03/2011	Active	NO

Name :

Mr. Praveen Kumar Jain

Designation :

Director

Address :

129, Ground Floor, Block H , PH-1, Ashok Vihar, Opposite MCD School, New Delhi-110052, India

Date of Birth/Age :

06.11.1966

Date of Appointment :

01.03.2011

Din No.:

03459082

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	Company/ LLP Status	Defaulting status
1	U74899DL1991PTC044955	NEO HY-LAMINATES PRIVATE LIMITED	Director	20/09/2011	01/03/2011	Active	NO

Name :

Ms. Sangeeta Jain

Designation :

Director

Address :

E-104, Ashok Vihar, PH-1, New Delhi-110052, India

Date of Birth/Age :

20.08.1963

Date of Appointment :

08.03.1994

Din No.:

00877747

Name :

Ms. Jaya Jain

Designation :

Director

Address :

D-157, Block D, Ashok Vihar, PH-1, New Delhi-110052, India

Date of Birth/Age :

04.12.1960

Date of Appointment :

08.03.1994

Din No.:

00650185

Name :

Mr. Naveen Jain

Designation :

Director

Address :

D-167, Block D, Ashok Vihar, PH-1, New Delhi-110052, India

Date of Birth/Age :

15.12.1961

Date of Appointment :

13.07.1991

Din No.:

00650434

KEY EXECUTIVES

Name :	Mr. Sharma
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 20.09.2011

Names of Shareholders	No. of Shares
Amit Trading Company, India	100
Anil Kumar Jain	2433
Ankit Jain	271
Arvind Jain	1350
Ashwani	1250
Himanbshu Jain	1424
Jai Pal Singh Jain	885
Jai Pal Singh Jain (HUF)	400
Jaya Jain	1500
Kusum Jain	400
Malti Jain	750
Naveen Kumar Jain	1100
Naveen Trading Company, India	100
Nishank Jain	372
Pardeep Kumar Jain (HUF)	475
Parveen Kumar Jain	1927
Poonam Jain	1350
Pradeep Kumar Jain	3677
Roopali Jain	1736
Sangeeta Jain	2150
Sushil Kumar Jain	1350
TOTAL	25000

AS ON 20.09.2011

Equity Share Breakup	Percentage of Holding
Category
Other top fifty shareholders	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Decorative Laminates, HPB (High Pressure Laminates), Industrial Laminates Kitchen door panels and door skin.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS [AS ON 31.03.2011]

PARTICULARS	LAMINATED SHEETS
Licensed Capacity	460000
Installed Capacity	460000
Actual Production	25871 [Qty.]

GENERAL INFORMATION

Customers :

Wholesaler and Retailers

No. of Employees :

55 [Approximately]

Bankers :

Punjab National Bank, Railway Road, Bahadurgarh-124507, Haryana, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Term Loan
Punjab National Bank	1.314	2.129
Working Capital
From Punjab National Bank CC A/C 212	0.188	0.194
Car Loan From Bank	1.409	1.917
Punjab National Bank PC A/C	3.280	9.706
Punjab National Bank CC - 871	5.203	0.619
TOTAL	11.394	14.565
NOTE: Term Loan secured against all existing and future assets of the company by way of hypothecation in favour of the Punjab National Bank. Cash Credit/ Packing Credit facility with Punjab National Bank is secured by hypothecation of raw materials, work in process, finished goods and book debts of the company, consumables stores and spares, inward RR/ GR and all other current assets, deposits of confirmed order and original irrevocable L/C of approved Foreign Bank open in favour of party. Car Loan from Banks is secured against hypothecation of vehicles only.
Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
From Directors	2.709	3.958
From Share Holders	13.894	13.691
TOTAL	16.603	17.649

Banking Relations :	--
Auditors :
Name :	G. R. Bansal and Company Chartered Accountants
Address :	2941/3, 1^st Floor, Chuna Mandi, Paharganj, New Delhi-110055, India
Tel. No.:	91-11-23539350/ 23583279/ 27471026
Pan No.:	AKZPB1828J

CAPITAL STRUCTURE

AS ON 20.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.100/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.100/- each	Rs.2.500 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		2.500	2.500	2.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		23.584	22.811	21.986
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		26.084	25.311	24.486
LOAN FUNDS
1] Secured Loans		11.394	14.565	13.321
2] Unsecured Loans		16.603	17.649	17.960
TOTAL BORROWING		27.997	32.214	31.281
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		54.081	57.525	55.767
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		24.184	25.666	25.791
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.479	0.479	0.367
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	32.500	29.206	27.765
	Sundry Debtors	13.816	9.208	8.659
	Cash & Bank Balances	0.923	0.163	0.547
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	6.529	10.890	10.389
Total Current Assets		53.768	49.467	47.360
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	22.657	15.269	12.331
	Other Current Liabilities	1.250	2.344	4.896
	Provisions	0.443	0.474	0.524
Total Current Liabilities		24.350	18.087	17.751
Net Current Assets		29.418	31.380	29.609
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		54.081	57.524	55.767

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	TOTAL TURNOVER		72.334	81.462	81.704
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.947	2.054	2.034
Less/ Add	DEPRECIATION/ AMORTISATION		1.016	1.049	0.910
	PROFIT / (LOSS) BEFORE TAX		0.931	1.005	1.124
Less	TAX		0.158	0.180	0.350
	PROFIT / (LOSS) AFTER TAX		0.773	0.825	0.774
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		22.811	21.986	21.212
	BALANCE CARRIED TO THE B/S		23.584	22.811	21.986
	Earnings / (Loss) Per Share (Rs.)		30.92	33.04	31.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	1.19	1.34	1.54
Return on Investment (ROI) (PBT/Networth)		0.04	0.04	0.05
Debt Equity Ratio (Total Liability/Networth)		2.00	1.98	2.00
Current Ratio (Current Asset/Current Liability)		2.21	2.73	2.67

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	Yes
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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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

NOTE:

The registered office of the company has been shifted from 1269, Karta Sant Nagar, Chandani Chowk, New Delhi-110006, India to the present address.

PERFORMANCE REVIEW:

During the year ended 2010-11, Total Turnover of Company was increased to Rs. 72.334 Millions as against turnover of Rs. 81.462 Millions during the previous year. However, after meeting various Administration charges and depreciation, a net profit of Rs. 0.773 Million was arrives as against Net profit of Rs. 0.825 Million during the previous year, which has been transferred to reserve and surplus.

FIXED ASSETS:

· Land

· Building

· Machinery

· Office Furniture

· Type Writer

· EPABX (Intercom)

· Printer Table

· Computer

· Car

· Scooter/ Bike

· Refrigerator

· Fire Extinguisher

· Office Equipments

· Electric Meter

· Lab Equipments

· Tempo

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 records 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.53.97
UK Pound	1	Rs.87.52
Euro	1	Rs.70.84

INFORMATION DETAILS

Information Gathered by :	PJA
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	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		45

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.