MIRA INFORM REPORT

Report Date :

29.09.2012

IDENTIFICATION DETAILS

Name :	KESHAV PLYWOOD PRIVATE LIMITED
Registered Office :	Near- Plot No. D-8, RIICO Industrial Area, Kaladera, (The.Chomu), Rajasthan 303801
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	03.11.2010
Com. Reg. No.:	17-033238
Capital Investment / Paid-up Capital :	Rs 0.103 Million
CIN No.: [Company Identification No.]	U20219RJ2010PTC033238
TAN No.: [Tax Deduction & Collection Account No.]	JPRK03679E
PAN No.: [Permanent Account No.]	AAECK1361R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Ply Board
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Recently Commence Business
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Though the Company incorporated in the year 2010. It has recently commence its business activity from April 2012. Business is active. Payments are reported to be slow. The Company can be considered for business dealings on a safe and secured trade terms and condition.

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.Sunil
Designation :	Director
Contact No.:	91-9414090318
Date :	18.09.2012

LOCATIONS

Registered Office :	Near- Plot No. D-8, RIICO Industrial Area, Kaladera, (The.Chomu), Rajasthan-303801, India
Tel. No.:	Not Available
Mobile No.:	91-9414090318 (Mr.Sunil)
Fax No.:	Not Available
E-Mail :	keshavplyjpr@gmail.com mpk927@gmail.com sks105@yahoo.com
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Naresh Banarasidas Jindal

Designation :

Director

Address :

C/o Anil, B. Jindal, Sambhaji Nagar, Near Hawaldar Hospital, Jalna 431203, Maharashtra, India

Date of Appointment :

03.11.2010

DIN No.:

00719371

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	U24210MH1994PTC081810	JINDAL SEEDS COMPANY PRIVATE LIMITED	Director	06/10/1994	06/10/1994	-	Active	NO
2	U45202PN1999PTC013965	JINDAL MITTAL PROMOTERS AND BUILDERS PRIVATE LIMITED	Director	27/09/1999	27/09/1999	-	Active	NO
3	U13100OR2008PTC009878	VIDYA MINERALS PRIVATE LIMITED	Director	22/03/2009	22/03/2009	-	Active	NO
4	U27107MH2008PTC183647	RAM LAKHAN STEEL PRIVATE LIMITED	Director	22/03/2009	22/03/2009	-	Active	NO
5	U27100MH2004PTC144222	KALIKA STEEL JALNA PRIVATE LIMITED	Director	22/03/2009	22/03/2009	-	Active	NO
6	U27100MH2008PTC187495	KASTURI STEEL ALLOYS PRIVATE LIMITED	Director	25/03/2009	25/03/2009	28/02/2010	Active	NO
7	U27100MH2004PTC145665	KALIKA MAA ISPAT PRIVATE LIMITED	Director	02/09/2009	02/09/2009	-	Active	NO
8	U28999OR2009PTC011288	ULTRA TECH ALLOYS PRIVATE LIMITED	Director	06/11/2009	06/11/2009	24/06/2011	Active	NO
9	U74990MH2010PTC199311	KALIKA SPONGE AND POWER PRIVATE LIMITED	Director	23/01/2010	23/01/2010	-	Active	NO
10	U20219RJ2010PTC033238	KESHAV PLYWOOD INDUSTRIES PRIVATE LIMITED	Director	03/11/2010	03/11/2010	-	Active	NO
11	U80904MH2011NPL212968	ANIL JINDAL MEMORIAL FOUNDATION	Director	03/02/2011	03/02/2011	-	Active	NO

Name :

Mr. Sunilkumar Nandkishore Goyal

Designation :

Director

Address :

Goyal Niwas, Dr R.P Road, Jalna, 431203, Maharashtra, India

Date of Appointment :

03.11.2010

DIN No.:

02025150

Name :

Mr. Sunil Kumar Singhal

Designation :

Director

Address :

191 Nai Mandir, Gharsana, Sriganga Nagar, 335707, Rajasthan, India

Date of Appointment :

03.11.2010

DIN No.:

02250266

Name :

Mr. Gaurav Baghla

Designation :

Director

Address :

A 60 Model Town, Malviya Nagar, Jaipur, 302017, Rajasthan, India

Date of Appointment :

03.11.2010

DIN No.:

0330429

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Naresh Banarasidas Jindal	102000
Sunilkumar Nandkishore Goyal	52000
Sunil Kumar Singhal	26000
Gaurav Baghla	25000
Lalita Singhal	50300
Deepak Singhal	50000
Ajay Kumar Singhal	50000
Anita Bagla	25000
Sunil Kumar Singhal and Sons	80000
Total	510300

As on 31.03.2012

Names of Allotees	No of Share Allotted
Rakesh Baghla	500
Monika Singhal	500
Raman Kumar Baghla	500
Total	1500

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 Ply Board
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Century Plywood India Limited

· N.S.Febrications

· Sadhu Ram and company

· Shri Ganesh Bricks Udyog

· Tirupati Constructions

· Karwa and Associates

· TDS Payable

Customers :

Wholesalers and Retailers

· Keshav Plywood

No. of Employees :

60 (Approximately)

Bankers :

· Oriental Bank of Commerce, Adarsh Nagar, Jaipur – 302004, Rajasthan, India

· Punjab National Bank

Facilities :

Cash Credit Rs.15.000 Millions (From Oriental Bank of Commerce)

(Rs. In Millions)

Unsecured Loan	As on 31.03.2011
Lalita Singhal	0.514
Naresh B Jindal Banarsidas	1.792
Sunil Kumar Goyal Nand Kishore	1.788
Sunil Kumar Singhal	0.737
Sunil Kumar Singhal and sons	0.309
Total	5.140

Banking Relations :	--
Auditors :
Name :	Karwa and Associates Chartered Accountants
Address :	15, Jaimal Singh Ka Katla Near Sanganeri Gate Jaipur – 302003, Rajasthan, India
Tel. No.:	91-17-2603672
PAN.:	AADFK5196Q

CAPITAL STRUCTURE

After: 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
511800	Equity Shares	Rs.10/- each	Rs 5.118 Millions

As on: 31.03.2011

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
10300	Equity Shares	Rs.10/- each	Rs 0.103 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.103
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.103
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		5.140
TOTAL BORROWING		5.140
DEFERRED TAX LIABILITIES		0.000
TOTAL		5.243
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.215
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	1.680
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		1.680
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.157
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.157
Net Current Assets		1.523
MISCELLANEOUS EXPENSES		0.457
Security Deposit		0.048
TOTAL		5.243

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	Nil
		Other Income
		TOTAL	Nil
Less	EXPENSES
		Office Expenses
		Administrative Expenses	Nil
		Advertising Expenses
		TOTAL	Nil
	PROFIT BEFORE TAX		Nil
Less	TAX		Nil
	PROFIT AFTER TAX		Nil
	Earnings Per Share (Rs.)		Nil

The Company has not started any business during the financial year.

Expected Sales ( 2012-13) : Rs.60.000 Millions

The above information has been parted by Mr.Sunil

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	Nil
Net Profit Margin (PBT/Sales)	(%)	Nil
Return on Total Assets (PBT/Total Assets}	(%)	Nil
Return on Investment (ROI) (PBT/Networth)		Nil
Debt Equity Ratio (Total Liability/Networth)		1.52
Current Ratio (Current Asset/Current Liability)		10.70

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 one year	Yes
12]	Profitability for last one year	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
No 17]	Major suppliers	Yes
18]	Major customers	Yes
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]	Date of Birth of Proprietor/Partner/Director, if available	No
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

Note:

The registered office of the company has been shifted from Near Plot No-08, Riico Industrial Area Kaladera, Tehsil – Chomu,- 303801 Rajasthan, India to present address w.e.f. 25.11.2011

Bankers Charges Report as per Registry

Corporate identity number of the company	U20219RJ2010PTC033238
Name of the company	KESHAV PLYWOOD INDUSTRIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Near- Plot No. D-8, RIICO Industrial Area, Kaladera, The. Chomu - 303801, Rajasthan India sks105@yahoo.com
This form is for	Creation of Charge
Type of charge	· Immovable property · Any interest in immovable property · Book debts · Movable property (not being pledge)
Particular of charge holder	Adarsh Nagar, Jaipur – 302004, Rajasthan, India bm0672@obc.co.in
Nature of instrument creating charge	Agreement for Term loan with Hypothecation clause and Hypothecation Agreement Memorandum for Equitable Mortgage
Date of instrument Creating the charge	07.09.2011
Amount secured by the charge	Rs 34.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest BR+3.00% (present BR of the bank is 10.75%) which works out at 13.75% at present with monthly rests, subject to changes in BR/ Spread announced by the Bank and subject to changes by RBI. Terms of Repayment . Term Loan :- 78 Monthly Installments of Rupees 0.380 Million plus interest as and when applied. Repayment to be commenced from March 30th, 2012. 2. Cash Credit:- 12 months Margin Margin is 25%. Extent and Operation of the charge Exclusive charge of Oriental Bank of Commerce over project assets
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Charge on land and building, plant and machinery and other fixtures situated at near plot no.D-8, RIICO industrial area, Village Kaladera, Tah: Chomu District Jaipur belonging to the company.

TRADE REFFERENCES

· Keshav Ply Board

· Century Ply Board India Limited

FIXED ASSEST

· Landing and Building

· Car

· Motor Cycle

· Computer

· Furniture

· Civil Works

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 :	UDS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
2PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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		12

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.