MIRA INFORM REPORT

Report Date :

10.01.2013

IDENTIFICATION DETAILS

Name :	BUNDY INDIA LIMITED

Formerly Known As :	BUNDY TUBING OF INDIA LIMITED

Registered Office :	No. 2, G.I.D.C. Industrial Estate, Makarpura, Vadodara – 390010, Gujarat

Country :	India

Financials (as on) :	31.12.2011

Date of Incorporation :	01.05.1996

Com. Reg. No.:	04-029520

Capital Investment / Paid-up Capital :	Rs. 90.001 Millions

CIN No.: [Company Identification No.]	U29199GJ1996PLC029520

TAN No.: [Tax Deduction & Collection Account No.]	BRDB00700A

PAN No.: [Permanent Account No.]	AAACB3039M

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturer of Automotive Components, Tubes and Fuel Handling Products.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

Maximum Credit Limit :	USD 7710000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is a subsidiary of ‘TI Automative Holdings Limited, UK’. It is an established company having a satisfactory track record. Even though the company has recorded some growth in its total income during 2011, it has incurred loss from its operations. However, financial position of the company appears to be sound and healthy. Trade relations are reported as decent. Business is active. Payment terms are usually correct and as per commitments. The company can be considered 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

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.

LOCATIONS

Registered Office :	No. 2, G.I.D.C. Industrial Estate, Makarpura, Vadodara – 390010, Gujarat, India
Tel. No.:	91-265-2642621/ 2643861/ 2643862
Fax No.:	91-265-2638364
E-Mail :	anandjain@in.tiauto.com vgoyal@in.tiauto.com skumar@in.tiauto.com
Website :	http://www.tiautomotive.com
Area :	1000 sq mtrs.
Location :	Owned

Factory 1 :	No.13C, 6^th Main 3^rd Phase, Peenya Industrial Area, Bangalore – 560058, Karnataka, India
Location :	Rented

Factory 2 :	Plot No. 39 and 40, Sector No. 3, Ch. Devilal IMT, Manesar, Gurgaon – 122050, Haryana, India
Tel. No.:	91-124-2842701/ 2842809
Fax No.:	91-124-2842801
Location :	Owned

DIRECTORS

AS ON 28.06.2012

Name :

Mr. Akhilesh Rai

Designation :

Chairman

Address :

1/18, Veeram Khand, Gomti Nagar, Lucknow – 226010, Uttar Pradesh, India

Date of Birth/Age :

28.07.1948

Qualification :

Graduate

Date of Appointment :

25.02.1997

DIN No.:

00317330

Name :

Mr. Ravibabu Turlapati

Designation :

Managing director

Address :

323-B, Hamilton Court, DLF Phase –IV, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

30.03.1959

Qualification :

CA/ CS

Date of Appointment :

01.07.2003

PAN No.:

AAVPT1123A

DIN No.:

00302698

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	U29199GJ1996PLC029520	BUNDY INDIA LIMITED	Managing director	01/07/2003	01/07/2003	Active	NO
2	U34100TN2007PTC064240	HANIL TUBE INDIA PRIVATE LIMTED	Director	16/07/2007	16/07/2007	Active	NO

Name :

Mr. Ravi Kant Sharma

Designation :

Whole-time director

Address :

801, Block -14, Heritage City, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

20.05.1953

Qualification :

Graduate

Date of Appointment :

01.01.2005

PAN No.:

ACMPS0766R

DIN No.:

00335648

Name :

Mr. Phillip Stephenson

Designation :

Director

Address :

37, Stonehenge Ave, Sterling-5152, South Australia

Date of Birth/Age :

24.10.1949

Qualification :

Graduate

Date of Appointment :

23.09.2002

DIN No.:

00426606

Name :

Mr. Van Boxlaer Olivier

Designation :

Whole-time director

Address :

House No.3/302, Valalar Street, Natarajan Avenue, Uthandi, ECR, Chennai – 600119, Tamilnadu, India

Date of Birth/Age :

31.03.1976

Qualification :

Graduate

Date of Appointment :

28.03.2011

PAN No.:

ALIPV4394F

DIN No.:

03553923

KEY EXECUTIVES

Name :	Mr. Rakesh Sharma
Designation :	Secretary
Address :	B-86, Ashok Vihar, Phase-I, Delhi – 110052, India
Date of Birth/Age :	28.07.1963
Date of Appointment :	17.06.2009
PAN No.:	ADFPS3888Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.06.2012

SHAREHOLDING DETAILS FILE ATTACHED

AS ON 28.06.2012

Equity Share Breakup		Percentage of Holding
Category
Nationalised or other banks		0.01
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]		96.90
Bodies corporate		0.05
Others		3.04
Total		100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Automotive Components, Tubes and Fuel Handling Products.

Products :

ITC Code	Product Descriptions
73063090	Bundy Weld Steel Tubes
87089900	Parts and Accessories of Motor Vehicle

PRODUCTION STATUS (AS ON 31.12.2010)

Particulars

Unit

Licenced/ Approved Capacity (Note 1)

Installed Capacity

(Note 2)