MIRA INFORM REPORT

Report Date :

11.12.2013

IDENTIFICATION DETAILS

Name :	ESSEM TECNOPINZ PRIVATE LIMITED
Registered Office :	A – 22, NICE, MIDC, Satpur, Nashik - 422007, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	15.03.2000
Com. Reg. No.:	11-124957
Capital Investment / Paid-up Capital :	Rs.59.305 Millions
CIN No.: [Company Identification No.]	U36991MH2000PTC124957
TAN No.: [Tax Deduction & Collection Account No.]	NSKE00592E
PAN No.: [Permanent Account No.]	AAACE6832F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Ball Point Pen Tips and Refills.
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (65)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 2738000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. Financial position of the company appears to be sound. Fundamental are strong and healthy. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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. Shripad Kulkarni
Designation :	Accounts Manager
Contact No.:	91-253-6693134
Date :	06.12.2013

LOCATIONS

Registered Office :	A – 22, Nice, MIDC, Satpur, Nashik-422007, Maharashtra, India
Tel. No.:	91-253-2350204 / 2362168 / 6693134
Fax No.:	91-253-2362168 / 6693140 / 2360196
E-Mail :	essemtecnopinz@essemindia.com amit@essemindia.com shripad.kulkarni@essemindia.com sales@essemindia.com
Website :	www.essemtechnopinz.com
Area :	4000 sq ft
Location :	Owned
Factory 1 :	Plot No.: 26/1, MIDC, Satpur, Nashik - 422007, Maharashtra, India
Location:	Owned
Factory 2 :	C 10/2, MIDC, Satpur, Nashik – 422007, Maharashtra, India

DIRECTORS

As on 09.09.2013

Name :

Mr. Amitkumar Vinod Tibrewal

Designation :

Director

Address :

B-11, Priyanka Hills Apartment, Mahatma Nagar, Nasik – 422 007, Maharashtra, India

Date of Birth/Age :

18.11.1974

Qualification :

Finance Controller

Date of Appointment :

15.03.2000

PAN No.

ABWPT7853R

DIN No.:

00191673

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	U36991MH2000PTC124957	ESSEM TECNOPINZ PRIVATE LIMITED	Director	15/03/2000	15/03/2000	-	Active	NO
2	U45400WB2008PTC123650	UPHAR CONCLAVE PRIVATE LIMITED	Director	05/03/2008	05/03/2008	-	Active	NO
3	U85100MH2008PTC179821	AROMATHAI SPA PRIVATE LIMITED	Director	07/03/2008	07/03/2008	-	Active	NO
4	U85100DL2010PTC260171	AROMATHAI SPA (DELHI) PRIVATE LIMITED	Director	17/04/2010	17/04/2010	23/02/2012	Active	NO
5	U70102MH2010PTC206988	TITIR REAL ESTATE PRIVATE LIMITED	Director	28/08/2010	28/08/2010	-	Active	NO
6	U25209GJ1988PTC010826	NIPPON PLASTICS PVT LTD	Additional director	28/12/2010	28/12/2010	-	Active	NO
7	U36941GJ1989PTC012577	MICRON TIPS PRIVATE LIMITED	Additional director	28/12/2010	28/12/2010	-	Active	NO
8	U74899DL1988PTC030529	MIKRON STATIONERY PRIVATE LIMITED	Director	30/09/2011	28/12/2010	-	Active	NO
9	U74899DL1986PTC025145	S S BALL POINT (INDIA) PRIVATE LTD.	Director	30/09/2011	28/12/2010	-	Active	NO
10	U74899DL1986PTC025256	ESKAYAM WRITING AIDS PRIVATE LIMITED	Director	30/09/2011	28/12/2010	-	Active	NO
11	U74900WB2009PTC136965	KAVI MERCHANDISE PRIVATE LIMITED	Additional director	18/02/2011	18/02/2011	-	Active	NO
12	U70200WB2009PTC136663	UJJWALA CONCLAVE PRIVATE LIMITED	Additional director	18/02/2011	18/02/2011	-	Active	NO
13	U74900WB2009PTC136823	MS VYAPAAR PRIVATE LIMITED	Additional director	18/02/2011	18/02/2011	-	Active	NO
14	U85100MH2011PTC214711	AROMATHAI SPA (INDIA) PRIVATE LIMITED	Director	12/03/2011	12/03/2011	-	Active	NO
15	U32109WB2009PTC139347	G-TEC TELESOLUTION PRIVATE LIMITED	Director	13/02/2012	13/02/2012	-	Active	NO
16	U72200MH2013PTC241546	MIKROS ADVANCED TECHNOLOGIES PRIVATE LIMITED	Director	01/04/2013	01/04/2013	-	Active	NO

Name :

Mr. Deepak Ramchand Vasandani

Designation :

Director

Address :

Smaran, 46, Palm Springs, Gangapur Road, Nashik – 422 005, Maharashtra, India

Date of Birth/Age :

07.01.1957

Qualification :

Enggineer

Voter ID No.:

TGY1344977

Date of Appointment :

15.03.2000

PAN No. :

AAIPV2955P

DIN No.:

00192961

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	U36941GJ1989PTC012577	MICRON TIPS PRIVATE LIMITED	Director	11/10/1999	11/10/1999	20/11/2013	Active	NO
2	U36991MH2000PTC124957	ESSEM TECNOPINZ PRIVATE LIMITED	Director	15/03/2000	15/03/2000	-	Active	NO
3	U85100MH2008PTC179821	AROMATHAI SPA PRIVATE LIMITED	Director	07/03/2008	07/03/2008	15/11/2009	Active	NO
4	U85100DL2010PTC260171	AROMATHAI SPA (DELHI) PRIVATE LIMITED	Director	17/04/2010	17/04/2010	23/02/2012	Active	NO

Name :

Mr. Punit Kumar Keshan Bishwanath

Designation :

Director

Address :

23-B/1, Suran Sarkar Road, PO/PS-Phool, Bagan, Kolkata – 700010, West Bangal, India

Date of Birth/Age :

18.03.1971

Qualification :

Graduate

Date of Appointment :

15.03.2000

DIN No.:

00200826

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	U25209GJ1988PTC010826	NIPPON PLASTICS PVT LTD	Director	08/06/1995	08/06/1995	-	Active	NO
2	U36991WB1986PTC040934	HI-TECH EXPORTS PVT. LTD.	Director	04/12/1995	04/12/1995	-	Active	NO
3	U51109WB1995PTC075005	MILESTONE MERCHANTS PVT.LTD.	Director	15/12/1995	15/12/1995	-	Active	NO
4	U36941GJ1989PTC012577	MICRON TIPS PRIVATE LIMITED	Director	05/05/1997	05/05/1997	-	Active	NO
5	U36991WB1984PTC037298	STYLEX (INDIA) PVT LTD	Director	01/06/1999	01/06/1999	-	Strike off	NO
6	U74899DL1988PTC030529	MIKRON STATIONERY PRIVATE LIMITED	Director	15/06/1999	15/06/1999	-	Active	NO
7	U36991MH2000PTC124957	ESSEM TECNOPINZ PRIVATE LIMITED	Director	15/03/2000	15/03/2000	-	Active	NO
8	U51109WB1996PTC080893	SPARK WRITING AIDS (INDIA) PVT.LTD.	Director	20/12/2008	20/12/2008	-	Active	NO
9	U13203WB2010PTC140723	NAVRATNA FERRUM INDIA PRIVATE LIMITED	Director	06/01/2010	06/01/2010	-	Active	NO
10	U18109WB2010PTC142309	RANGELLII FAASHIION PRIVATE LIMITED	Director	16/02/2010	16/02/2010	21/11/2011	Active	NO
11	U17121WB2010PLC152510	SARRA FFASHION INDIA LIMITED	Director	24/08/2010	24/08/2010	-	Under Process of Striking off	NO
12	U74140WB2011PTC159114	SAFELINE REALBUILD CONSULTANTS PRIVATE LIMITED	Additional director	08/04/2011	08/04/2011	07/05/2013	Active	NO
13	U17120WB2012PTC181101	FABINO DESIGNES PRIVATE LIMITED	Director	27/04/2012	27/04/2012	-	Active	NO
14	U25209WB2012PTC182645	NAGARR PLASTIC PRIVATE LIMITED	Director	14/06/2012	14/06/2012	-	Active	NO
15	U13100WB2010PTC140629	NATURALL RESOURCES INDIA PRIVATE LIMITED	Director	17/12/2012	17/12/2012	-	Active	NO
16	U51109WB1998PTC087825	PRACHI WRITING INSTRUMENTS PRIVATE LIMITED	Additional director	01/08/2013	01/08/2013	-	Ac

Name :

Mr. Sandip Kumar Shyam Sundar Mahansaria

Designation :

Director

Address :

Paramount Apartment, No. 4A/B, 25, Ballygunge, Circular Road, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

16.09.1962

Qualification :

MBA

Date of Appointment :

15.03.2000

DIN No.:

00206018

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	U25209GJ1988PTC010826	NIPPON PLASTICS PVT LTD	Director	10/06/1988	10/06/1988	-	Active	NO
2	U36941GJ1989PTC012577	MICRON TIPS PRIVATE LIMITED	Director	05/09/1989	05/09/1989	-	Active	NO
3	U74899DL1986PTC025145	S S BALL POINT (INDIA) PRIVATE LTD.	Director	03/09/1991	03/09/1991	-	Active	NO
4	U74899DL1986PTC025256	ESKAYAM WRITING AIDS PRIVATE LIMITED	Director	03/09/1991	03/09/1991	-	Active	NO
5	U74899DL1988PTC030529	MIKRON STATIONERY PRIVATE LIMITED	Director	31/01/1998	31/01/1998	-	Active	NO
6	U36991MH2000PTC124957	ESSEM TECNOPINZ PRIVATE LIMITED	Director	15/03/2000	15/03/2000	-	Active	NO
7	U72900DL2012PTC235997	DEJERO LOGIX PRIVATE LIMITED	Director	17/05/2012	17/05/2012	-	Active	NO

Name :

Mrs. Vinita Sandip Mahansaria

Designation :

Director

Address :

Paramount Apartment, No. 4A/B, 25, Ballygunge, Circular Road, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

23.08.1967

Date of Appointment :

15.03.2000

PAN No. :

AEJPM8541H

DIN No.:

00288783

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	U74899DL1986PTC025145	S S BALL POINT (INDIA) PRIVATE LTD.	Director	27/01/1993	27/01/1993	20/11/2013	Active	NO
2	U36991MH2000PTC124957	ESSEM TECNOPINZ PRIVATE LIMITED	Director	15/03/2000	15/03/2000	-	Active	NO
3	U30008MH2002PTC135054	ESSEM REFILLS PRIVATE LIMITED	Director	05/03/2002	05/03/2002	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 09.09.2013

Names of Shareholders	No. of Shares
Amit Vinod Tibrewal	100
Deepak Ramchand Vasandani	100
Puneet Kumar Keshan	100
Vinita Sandip Mahansaria	100
Shyam Sundar Mahansaria	390000
Shyam Sundar Mahansaria (HUF)	252000
Ramrati Devi. Mahansaria	2034000
Mikron Tips Private Limited	1660000
Mahansaria Shyamsunder Sandip Kumar	262100
Eskayam Writing Aids Private Limited, India	200000
Hi-Tech Exports Private Limited	1132000
Total	5930500

As on 09.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	50.45
Directors or relatives of Directors	49.55
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Ball Point Pen Tips and Refills.

Products :

Item Code No. (ITC Code)	Product Description
96081090	Other Ball Point Pens

Exports :

Products :

Ballpoint Pen Tips and Refills

Countries :

• Bangkok
• Hong Kong
• USA
• Taiwan
• Bangladesh

Imports :

Products :

Raw Material

Countries :

• China
• Japan
• Germany

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Suppliers :

· A.K. Services

· Akash Industries

· Ashok Zawar and Company

· Avanti Protective Services Private Limited

· Blaser Swisslibe India Private Limited

· DHL Danzas Lemur Private Limited

· Mahalakshmi Commercial Company

· Passage Cargo Private Limited

· Prachi Writing Instruments Private Limited

· ARAI Kinzoku Company Limited

· Heraeus Materials Tech Shanghai Limited

· Swissmetal Boilet

Customers :

End Users

· Anand International

· Baba Tracon Private Limited

· Monga Plastics

· N V Tek Industries

· SSB Metal Work

· Writing System

· Tech Ink Industries

· M H Products

· Saber Pens Private Limited

· Leone Penna Company Limited

No. of Employees :

250 (Approximately)

Bankers :

· The Thane Janta Sahakari Bank Limited, 2. Suyojit Sankul, Sharanpur Road, Nashik – 422 002, Maharashtra, India

Tel. No.: 91-253-2575856

Fax. No.: 91-253-2575865

Email: tjsb.106@tjsb.co.in

· Indian Overseas Bank, Flora Fountain Branch, 51, Mulla House, Hutatma Chowk, Fountain, Fort, Mumbai - 400023, Maharashtra, India

· The Hongkong And Shanghai Banking Corporation Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India

· Bharat Overseas Bank Limited, Nashik Branch, Nashik – 422011, Maharashtra, India

· State Bank of India

· Axis bank Limited

· Bank of India

· Bank of Baroda

· Citi Bank

· Vijaya Bank

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Term loan from bank	83.103	138.231
SHORT TERM BORROWINGS
Working capital loan from bank	180.885	278.954
Total	263.988	417.185

Banking Relations :	--
Financial Institution :	SICOM Limited
Auditors :
Name :	Ashok S. Zawar and Company Chartered Accountants
Address :	155, Sarda Sankul, Vakilwadi, Nashik – 422 001, Maharashtra, India
PAN No. :	AAEFA0519N
Associates :	· Micron Tips Private Limited CIN No. : U36941GJ1989PTC012577 · Hi-Tech Export Private Limited CIN No. : U36991WB1986PTC040934 · Nippon Plastics Private Limited CIN No. : U25209GJ1988PTC010826 · S.S. Ball Point Private Limited CIN No. : U74899DL1986PTC025145 · Aromathai Spa (Delhi) Private Limited CIN No. : U85100MH2010PTC202131
Subsidiaries :	· Essem Refills Private Limited CIN No. : U30008MH2002PTC135054 · Essem International Company Limited

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5930500	Equity Shares	Rs.10/- each	Rs.59.305 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	59.305	59.305	59.305
(b) Reserves & Surplus	625.376	609.929	609.411
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	684.681	669.234	668.716
(3) Non-Current Liabilities
(a) long-term borrowings	108.334	176.203	107.594
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	4.253	1.738	1.513
(d) long-term provisions	0.332	0.332	0.332
Total Non-current Liabilities (3)	112.919	178.273	109.439
(4) Current Liabilities
(a) Short term borrowings	180.885	281.471	306.982
(b) Trade payables	72.255	61.606	87.924
(c) Other current liabilities	87.819	50.936	55.795
(d) Short-term provisions	1.547	1.793	1.835
Total Current Liabilities (4)	342.506	395.806	452.536
TOTAL	1140.106	1243.313	1230.691
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	690.895	724.470	680.972
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	8.499
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	95.257	106.113	100.330
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	5.970	8.745	15.810
(e) Other Non-current assets	1.272	0.409	0.466
Total Non-Current Assets	793.394	839.737	806.077
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	120.962	214.880	235.415
(c) Trade receivables	171.821	161.446	171.153
(d) Cash and cash equivalents	31.063	15.658	15.576
(e) Short-term loans and advances	15.635	7.157	0.693
(f) Other current assets	7.231	4.435	1.777
Total Current Assets	346.712	403.576	424.614
TOTAL	1140.106	1243.313	1230.691

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	742.672	697.756	665.798
		Other Income	9.408	5.855	8.923
		TOTAL	752.080	703.611	674.721
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	640.675	595.180	530.115
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		111.405	108.431	144.606
Less	FINANCIAL EXPENSES		55.269	67.918	51.984
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		56.136	40.513	92.622
Less/ Add	DEPRECIATION/ AMORTISATION		36.330	39.784	35.673
	PROFIT/ (LOSS) BEFORE TAX		19.806	0.729	56.949
Less	TAX		4.382	0.211	18.492
	PROFIT/ (LOSS) AFTER TAX		15.424	0.518	38.457
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		202.077	201.559	NA
	BALANCE CARRIED TO THE B/S		218.217	202.077	201.559
	EARNINGS IN FOREIGN CURRENCY
		FOB Value	374.768	NA	NA
	TOTAL EARNINGS		374.768	NA	NA
	Earnings / (Loss) Per Share (Rs.)		2.60	0.09	6.48

Expected Sales (2013-2014) : Rs.800.000 Millions

The above information has been parted by Mr. Shripad Kulkarni

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.03	0.07	5.70
Net Profit Margin (PBT/Sales)	(%)	2.67	0.10	8.55
Return on Total Assets (PBT/Total Assets}	(%)	1.90	0.06	5.08
Return on Investment (ROI) (PBT/Networth)		0.03	0.00	0.09
Debt Equity Ratio (Total Debt/Networth)		0.42	0.68	0.62
Current Ratio (Current Asset/Current Liability)		1.01	1.02	0.94

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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Loan and advance from related parties	25.231	37.972
SHORT TERM BORROWINGS
Other Loans and advance	0.000	2.517
Total	25.231	40.489

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10403048	24/01/2013	30,000,000.00	THE THANE JANATA SAHAKARI BANK LIMITED	NASHIK BRANCH, 2, SUYOJIT SANKUL, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	B68107895
2	10320421	15/11/2011	43,200,000.00	THE THANE JANATA SAHAKARI BANK LIMITED	NASHIK BRANCH, 2, SUYOJIT SANKUL, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	B26508788
3	10196276	31/12/2009	12,500,000.00	THE THANE JANATA SAHAKARI BANK LIMITED	NASHIK BRANCH, SUYOJIT SANKUL, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	A77335479
4	10196278	31/12/2009	2,500,000.00	THE THANE JANATA SAHAKARI BANK LIMITED	NASHIK BRANCH, SUYOJIT SANKUL, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	A77335867
5	10184410	30/07/2011 *	80,000,000.00	THE THANE JANATA SAHAKARI BANK LIMITED	NASHIK BRANCH, SUYOJIT SANKUL, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	B20270104
6	10099222	24/01/2008	5,000,000.00	THE THANE JANATA SAHAKARI BANK LIMITED	SUYOJIT SANKUL, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	A36988475
7	10099024	22/01/2008	15,000,000.00	THE THANE JANATA SAHAKARI BANK LIMITED	SUYOJIT SANKUL, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	A36896140
8	90241657	21/11/2005	12,500,000.00	BHARAT OVERSEAS BANK LTD.	NASHIK BRANCH, NASHIK, Maharashtra - 422011, INDIA	-
9	90152231	14/03/2011 *	118,455,000.00	INDIAN OVERSEAS BANK	FLORA FOUNTAIN BRANCH, 51, MULLA HOUSE, HUTATMA C HOWK, FOUNTAIN, FORT, MUMBAI, Maharashtra - 400023, INDIA	B10339745
10	90225334	02/08/2004 *	1,131,150.00	BHARAT OVERSEAS BANK LIMITED	NASIK BRANCH, NASIK, Maharashtra, INDIA	-
11	90151152	05/01/2004	5,000,000.00	THE THANE JANATA SAHAKARI BANK LIMITED	NASHIK BRANCH, NASHIK, Maharashtra - 422002, INDIA	-
12	90225275	01/08/2003	4,500,000.00	BHARAT OVERSEAS BANK	NASIK BRANCH, NASIK, Maharashtra, INDIA	-
13	90144334	04/12/2003 *	20,000,000.00	THE THANE JANTA SAHAKARI BANK LIMITED	2; SUYOJIT, SHARANPUR ROAD, NASIK, Maharashtra - 422002, INDIA	-
14	90225190	05/03/2002	2,300,000.00	BHARAT OVERSEAS BANK	NASIK BRANCH, NASIK, Maharashtra, INDIA	-
15	90225157	16/04/2004 *	25,000,000.00	BHARAT OVERSEAS BANK	NASIK BRANCH, NASIK, Maharashtra, INDIA	-
16	90225156	01/08/2003 *	25,000,000.00	BHARAT OVERSEAS BANK	NASIK BRANCH, NASIK, Maharashtra, INDIA	-
17	90240821	21/11/2005 *	25,000,000.00	BHARAT OVERSEAS BANK LIMITED	NASHIK BRANCH, NASHIK, Maharashtra - 422011, INDIA	-
18	90243998	21/11/2005 *	25,000,000.00	BHARAT OVERSEAS BANK LIMITED	NASHIK BRANCH, NASHIK, Maharashtra - 422011, INDIA	-
19	90152088	05/01/2004 *	25,000,000.00	THE THANE JANTA SAHAKARI BANK LIMITED	NASHIK BRANCH, NASHIK, Maharashtra - 422002, INDIA	-
20	90143515	08/11/2010 *	160,000,000.00	THE THANE JANATA SAHAKARI BANK LIMITED	NASHIK BRANCH, SUYOJIT SANKUL, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	A99674087
21	90150916	31/12/2009 *	65,000,000.00	THE THANE JANATA SAHAKARI BANK LIMITED	NASHIK BRANCH, SUYOJIT SANKUL, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	A79032355
22	90151995	20/08/1999	20,000,000.00	THE THANE JANTA SAHAKARI BANK LIMITED	SUYOJIT SANKUL, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	-
23	90150492	29/04/1998 *	52,500,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA	IDBI TOWER, COLABA, MUMBAI, Maharashtra - 400005, INDIA	-
24	90224502	09/04/1994	600,000.00	UNION BANK OF INDIA	NASIK BRANCH, NASIK, Maharashtra, INDIA	-
25	90224405	28/09/1989 *	1,100,000.00	UNION BANK OF INDIA	NASIK BRANCH, NASIK, Maharashtra, INDIA	-

* Date of charge modification

OPERATION:

The management of the company has a very positive outlook in next three years. There is definite growth above 10% in the industry in terms of number of tips being consumed by the industry. As the Swiss Franc has also substantially appreciated against USD which resulted in substantial increase in the cost of new machine and therefore is an entry barrier for the new comer and also for major expansion by the existing tip manufacturer worldwide. Hence, we believe that the demand supply gap will substantially cover up in the coming years which will allow the manufacturers to match the price with the cost escalation and thereby improve the profit margin of the company.

FUTURE PLANS:

The company has the policy to replace the electrical components and other machinery at appropriate time. The company has also the policy to adopt or incorporate the change in technology of better substitute.

FIXED ASSETS

· Building

· Non Factory Building

· Guest House

· Computer

· Electrical Installation

· Electrical Fitting

· Land

· Plant and Machinery

· Revaluation of Plant and Machinery

· Office Equipments

· Vehicles

· Furniture and Fixture

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 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.61.21
UK Pound	1	Rs.100.65
Euro	1	Rs.84.15

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		65

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.