MIRA INFORM REPORT

Report Date :

12.01.2013

IDENTIFICATION DETAILS

Name :	ALLIED WIRES PRIVATE LIMITED
Registered Office :	35 Ezra Street, Kolkata – 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	14.04.1986
Com. Reg. No.:	21-040518
Capital Investment / Paid-up Capital :	Rs. 3.500 Millions
CIN No.: [Company Identification No.]	U31300WB1986PTC040518
TAN No.: [Tax Deduction & Collection Account No.]	CALA00520C
PAN No.: [Permanent Account No.]	AACCA0758L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Enameled Copper Wire and Strips
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 10000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appears some losses recorded by the company. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. 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.

LOCATIONS

Registered Office :	35 Ezra Street, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22356569/ 4366/ 1767
Fax No.:	91-33-22350862
E-Mail :	info@alliedwires.com varun@alliedwires.com
Website :	gandhiarun2012@gmail.com

DIRECTORS

As on: 29.09.2012

Name :

Mr. Bimal Kumar Mimani

Designation :

Managing director

Address :

10, Lord Sinha Road, Kolkata – 700071, West Bengal, India

Date of Birth/Age :

08.07.1954

Date of Appointment :

01.04.1992

Voter Id:

WB/23/146/093459

DIN No.:

01453561

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	U31300WB1989PTC047664	MIMANI ELECTRICALS PRIVATE LIMITED	Director	03/10/1989	03/10/1989	-	Active	NO
2	U31300WB1986PTC040518	ALLIED WIRES PRIVATE LIMITED	Managing director	01/04/1992	01/04/1992	-	Active	NO

Name :

Ms. Sunita Mimani

Designation :

Director

Address :

10, Lord Sinha Road, Kolkata – 700071, West Bengal, India

Date of Birth/Age :

05.09.1960

Date of Appointment :

01.03.2001

Voter Id:

WB/23/146/093663

DIN No.:

01497201

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	U31300WB1986PTC040518	ALLIED WIRES PRIVATE LIMITED	Director	01/03/2001	01/03/2001	-	Active	NO
2	U70100WB2007PTC119946	SRINATH PROPERTIES PRIVATE LIMITED	Director	24/04/2008	24/04/2008	-	Active	NO

Name :

Mr. Varun Mimani

Designation :

Director

Address :

10, Lord Sinha Road, Kolkata – 700071, West Bengal, India

Date of Birth/Age :

11.10.1984

Date of Appointment :

14.09.2011

DIN No.:

03624395

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Vedant Mimani	19000
Bimal Kumar Mimani (HUF)	6300
Ram Chand Mimani	860
Bimal Kumar Mimani	172590
Sunita Mimani	1250
Total	200000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Enameled Copper Wire and Strips

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, SMECCC, Kolkata, 1, Strand Road, 4th Floor, Kolkata - 700001, West Bengal, India

· State bank of Indore

· HDFC Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
State bank of Indore (Secured against stock and raw materials. Stores. Spares, finished goods consumable by products stores lying at company’s factory)	5.016	2.589
State Bank of India Loan (Secured against machinery)	2.737	2.008
Car Loan Account (Secured against car)	0.011	0.141
HDFC Car Loan No. 1366	0.340	0.000
Total	8.104	4.738

Banking Relations :	--
Auditors :
Name :	Gandhi Arun and Company Chartered Accountants
Address :	51,Paddapukur Road, Kolkata – 700020, West Bengal, India
Tel. No.:	91-33-64500250/ 24190515
PAN.:	AAEFG5051F

CAPITAL STRUCTURE

As on: 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
400,000	Equity Shares	Rs.10/- each	Rs. 4.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
200,000	Equity Shares	Rs.10/- each	Rs. 2.000 Millions

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
400,000	Equity Shares	Rs.10/- each	Rs. 4.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
350000	Equity Shares	Rs.10/- each	Rs. 3.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		3.500	3.500	2.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.233	1.537	1.962
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.733	5.037	3.962
LOAN FUNDS
1] Secured Loans		8.104	4.738	7.262
2] Unsecured Loans		3.325	3.110	6.025
TOTAL BORROWING		11.429	7.848	13.287
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		16.162	12.885	17.249
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.120	8.597	7.825
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.261	0.261	0.261
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.106	2.335	3.627
	Sundry Debtors	10.738	7.355	5.778
	Cash & Bank Balances	0.522	0.429	0.276
	Other Current Assets	0.579	0.128	0.000
	Loans & Advances	0.187	0.080	0.625
Total Current Assets		15.132	10.327	10.306
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.975	5.930	1.143
	Other Current Liabilities	0.006	0.000	0.000
	Provisions	0.370	0.370	0.000
Total Current Liabilities		6.351	6.300	1.143
Net Current Assets		8.781	4.027	9.163
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		16.162	12.885	17.249

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	43.084	80.676	56.573
		Other Income	7.445	6.274	4.754
		TOTAL (A)	50.529	86.950	61.327
Less	EXPENSES
		Purchase	34.895	61.925	0.000
		Change in Inventories	(0.776)	1.293	(0.759)
		Personnel Expenses	0.000	0.000	0.775
		Other Expenses	14.365	20.989	58.410
		TOTAL (B)	48.484	84.207	58.426
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.045	2.743	2.901
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.493
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.045	2.743	2.408
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.349	2.252	1.830
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(0.304)	0.491	0.578
Less	TAX (H)		0.000	0.916	(0.156)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(0.304)	(0.425)	0.734
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.336	1.761	1.027
	BALANCE CARRIED TO THE B/S		1.032	1.336	1.761
	Earnings Per Share (Rs.)		(0.87)	NA	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(0.60)	(0.49)	1.19
Net Profit Margin (PBT/Sales)	(%)	(0.71)	0.61	1.02
Return on Total Assets (PBT/Total Assets}	(%)	(1.37)	2.59	3.18
Return on Investment (ROI) (PBT/Networth)		(0.06)	0.09	0.14
Debt Equity Ratio (Total Liability/Networth)		3.75	2.81	3.64
Current Ratio (Current Asset/Current Liability)		2.38	1.64	9.02

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	No
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	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	Yes

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	80023636
Corporate identity number of the company	U31300WB1986PTC040518
Name of the company	ALLIED WIRES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	35 EZRA ST, Kolkata – 700001, West Bengal, India KIRTI_SURANA@HOTMAIL.COM
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Floating charge · Others
Particular of charge holder	State Bank of India, SMECCC, Kolkata, 1, Strand Road, 4th Floor, Kolkata - 700001, West Bengal, India sbi.5011@sbi.co.in
Nature of description of the instrument creating or modifying the charge	Agreement of Loan-cum-Hypothecation. Memorandum for Recording Creation of Mortgage by Deposit of Title Deeds.
Date of instrument Creating the charge	10.08.2011
Amount secured by the charge	Rs. 9.632 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest For Cash Credit @6.50% above Base Rate, Present effective rate @15.75% p.a. at monthly rests. For Term Loan @7.00% above Base Rate, Present effective rate @16.25% p.a. at monthly rests. Terms of Repayment Working Capital is repayable on demand as per Banking norms. Term Loan I and 2 will be repaid as per existing repayment schedule. Term Loan 3 (New) of Rs.1.930 Millions is repayable in 50 monthly installments of Rs. 0.038 Million, commencing from August, 2011 and ending from September, 2015. Margin 25% of Raw Materials (Indigenous), 25% of Semi-Finished Goods, 25% of Finished Goods, 40% of Domestic Receivables, 25% of Term Loan (Overall), and 10% of Bank Guarantees Extent and Operation of the charge First Charge on the whole of the hypothecated assets and mortgaged properties as continuing securities.
Short particulars of the property charged	· Hypothecation of entire inventory and book debts, both present and future of the Company. · Hypothecation of the Plant and Machineries and other fixed assets acquired out of Bank Finance. · All that price and parcel of land measuring 33 Satak, more or less with construction thereon in RS Dag No.4461, LR Dag No.4466, RS Khatian No.1720, LR Khatian No.2933 situated at Mouza Biprannapara · JL No.27, ADSRO and PS Domjur, District Howrah · Deed of sale dated 28.10.2005 made between M/s.Eastern Alkatra Mfg. Private Limited. as vendor and M/s.Allied Wires Private Limited. as purchaser and registered with sub-registrar Howrah and recorded in Book No.I, · Volume No.V-152, Pages from 157 to 166, Being No.5500 for the year 2005.
Date of latest modification prior to the present modification	13.11.2009
Particulars of the present modification	By this modification, the Overall Limit is reduced from Rs. 11.900 Millions to Rs.9.632 Millions Particulars of Current Assets and Immovable Properties and all other terms and conditions continue to remain as before in full force and effect.

(Rs in Millions)

Unsecured Loan	As on 31.03.2012	As on 31.03.2011
Loan from Directors and Shareholders	3.325	3.110
Total	3.325	3.110

FIXED ASSETS

· Plant and Machinery

· Electrical Installation

· Fax Machine

· Furniture and Fixtures

· Generator

· Motor car

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. 54.54
UK Pound	1	Rs. 88.05
Euro	1	Rs. 72.29

INFORMATION DETAILS

Report Prepared by :

UDS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.