MIRA INFORM REPORT

Report Date :

24.07.2013

IDENTIFICATION DETAILS

Name :	NEEL AUTO PRIVATE LIMITED (w.e.f.26.09.2012)
Formerly Known As :	THAI SUMMIT NEEL AUTO PRIVATE LIMITED
Registered Office :	601, Hemkunt Chambers, 89, Nehru Place, New Delhi – 110019
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	02.12.2003
Com. Reg. No.:	55-123285
Capital Investment / Paid-up Capital :	Rs. 547.651 Millions
CIN No.: [Company Identification No.]	U34300dl2003ptc123285
PAN No.: [Permanent Account No.]	AABCT9860D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Two Wheeler Parts.
No. of Employees :	2000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (35)

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

Maximum Credit Limit :	USD 2440000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a Joint Venture between JBM Group of India and Thai Summit Group of Thailand. It is an established company having a moderate track record. Profitability appears to be low. However, the company has recorded a better increased in its sales turnover during 2012. Trade relations are reported as decent. Business is active. Payments are reported to be low but correct. The company can be considered for business dealing with slight 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	(Term Loans) BBB-
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation, it carry moderate credit risk.
Date	22.02.2012

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. Harish Sharma
Designation :	Accounts and Finance Manager
Contact No.:	91-9711682280
Date :	23.07.2013

LOCATIONS

Registered Office :	601, Hemkunt Chambers, 89, Nehru Place, New Delhi – 110019, India
Tel. No.:	91-11-42099920/ 26427104/ 29522570/ 571
Mobile No.:	91-9711682280 [Mr. Harish Sharma]
Fax No.:	91-11-26427100/ 29521512
E-Mail :	papas@tsneel.com raviarora@jbm.co.in nishant@jbm.co.in guptarajiv1091@gmail.com harishsharma@tsneel.com
Website :	http://www.tsneel.com
Location :	Owned
Factory 1 :	Plot No. 4, Sector 10, I.I.E Pantnagar, U. S. Nagar, Uttarakhand, India
Fax No.:	91-5494-250134
	91-5494-250133
Location :	Owned
Factory 2 :	Plot No.1 and 6, TVS Industrial Estate, Hosur – 635126, Tamilnadu, India
	91-4344-277756/ 275478/ 276318/ 276223
	91-4344-277785
Location :	Owned
Factory 3 :	Behrampur Industrial Area, Begampur, Khatola Road, Village Khandsa, Gurgaon – 122001, Haryana, India
Tel No.:	91-124-4199500/ 501
Fax No.:	91-124-4199549
E-Mail:	thaisummit@tsneel.com aupadhya@tsneel.com aupandhya@jbm.co.in
Factory 4 :	C-1, MIDC, Chakan Industrial Area, Chakan, Pune – 410501, Maharashtra, India
Tel No.:	91-2135-664000
Fax No.:	91-2135-664031/ 32
Factory 5:	Plot No.128, Village Rajpura, Bharatgarh Road, Nalagarh, District Solan, Himachal Pradesh, India
Tel No.:	91-1795-220152
Factory 6:	Plot No.322, Sector-3, Phase – II, GWC Bawal, Haryana, India
Branch Office :	Plot No. 8, Sector 10, I.I.E. Pantnagar, U. S. Nagar, Uttarakhand, India
Tel No.:	91-999-7304443
Other Branch Offices :	Located at: v Delhi v Gurgaon v Noida

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Surendra Arya

Designation :

Nominee director

Address :

Neelanchal No.7, Bandh Road, Chandan – Hulla, Mehrauli, New Delhi – 110030, India

Date of Birth/Age :

10.11.1957

Date of Appointment :

02.12.2003

DIN No.:

00004626

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	U27109DL1982PLC084678	JBM INDUSTRIES LIMITED	Director	18/08/1982	18/08/1982	-	Active	NO
2	L29130DL1987PLC027342	JAY BHARAT MARUTI LIMITED	Managing director	10/06/2013	19/03/1987	-	Active	NO
3	U74899DL1990PLC101070	GURERA INDUSTRIES LIMITED	Director	16/11/1990	16/11/1990	-	Active	NO
4	L74899DL1994PLC063412	A TO Z SECURITIES LIMITED	Director	12/12/1994	12/12/1994	-	Active	NO
5	U74899DL1995PLC064073	JAY BHARAT EXHAUST SYSTEMS LIMITED	Director	05/01/1995	05/01/1995	-	Amalgamated	NO
6	U74899DL1991PTC044376	JBM BUILDERS PRIVATE LIMITED	Director	01/04/1995	01/04/1995	-	Active	NO
7	U74899DL1995PLC067432	JBM INTERNATIONAL LIMITED	Director	18/04/1995	18/04/1995	-	Active	NO
8	U35990DL1995PLC071596	JAYBHARAT BREED LIMITED	Director	09/08/1995	09/08/1995	28/07/2009	Amalgamated	NO
9	U74899DL1998PTC095612	ANS HOLDING PRIVATE LIMITED	Director	18/08/1998	18/08/1998	-	Active	NO
10	U34392HR1999PTC034392	NAGATA INDIA PRIVATE LIMITED	Nominee director	23/12/1999	23/12/1999	11/09/2009	Active	NO
11	L74899DL1996PLC083073	JBM AUTO LIMITED	Director	01/08/2000	01/08/2000	-	Active	NO
12	U27109HR1975PLC007910	JAICO STEEL FASTNERS LIMITED	Director	01/08/2000	01/08/2000	-	Amalgamated	NO
13	U34300TN1998PTC046810	JBM AUTO SYSTEM PRIVATE LIMITED	Director	16/03/2001	16/03/2001	-	Active	NO
14	U74899DL1997PLC086432	NEEL METAL PRODUCTS LIMITED	Director	01/05/2002	01/05/2002	-	Active	NO
15	L74899DL1992PLC050333	MINDA INDUSTRIES LIMITED	Director	29/01/2003	29/01/2003	-	Active	NO
16	U99999DL1959PLC176013	AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA	Director	02/09/2003	02/09/2003	-	Active	NO
17	U34300DL2003PTC123285	NEEL AUTO PRIVATE LIMITED	Nominee director	02/12/2003	02/12/2003	-	Active	NO
18	U45201DL2003PTC120054	SATISH BUILDWELL PRIVATE LIMITED	Director	03/03/2005	03/03/2005	-	Active	NO
19	U74899DL2005PTC142456	UNITECH SAI PRIVATE LIMITED	Director	10/11/2005	10/11/2005	-	Active	NO
20	U70109DL2006PTC150012	SHREEAUMJI INFRASTRUCTURE AND PROJECTS PRIVATE LIMITED	Director	22/06/2006	22/06/2006	-	Active	NO
21	L19201HR1986PLC033185	LIBERTY SHOES LIMITED	Director	20/09/2006	20/09/2006	22/02/2012	Active	NO
22	U28111DL2006PTC155129	ARCELOR NEEL TAILORED BLANK PRIVATE LIMITED	Nominee director	01/11/2006	01/11/2006	-	Active	NO
23	U45201DL2006PTC144714	SHREEAUMJI REAL ESTATE SEZ PRIVATE LIMITED	Director	28/09/2007	14/11/2006	-	Active	NO
24	U74899DL2006PTC144713	SHREEAUMJI DEVELOPERS SEZ PRIVATE LIMITED	Director	28/09/2007	14/11/2006	-	Active	NO
25	U74140DL2007PTC158597	NEEL METAL FANALCA ENVIRONMENT MANAGEMENT PRIVATE LIMITED	Nominee director	02/02/2007	02/02/2007	20/12/2012	Active	NO
26	U13203DL2007PLC164433	ANS STEEL TUBES LIMITED	Director	06/06/2007	06/06/2007	21/03/2013	Active	NO
27	U92100MH2007PLC172122	VICHAAR TELEVISION NETWORK LIMITED	Director	29/11/2007	29/11/2007	-	Active	NO
28	U29220DL2007PTC171360	JBM MA AUTOMOTIVE PRIVATE LIMITED	Director	12/12/2007	12/12/2007	-	Active	NO
29	U74140DL2008PTC172320	JBM ENVIRONMENT MANAGEMENT PRIVATE LIMITED	Director	07/01/2008	07/01/2008	-	Active	NO
30	U45200DL2007PTC160649	MULTIVISION CONSTRUCTIONS PRIVATE LIMITED	Director	15/09/2008	30/06/2008	-	Active	NO
31	U27100DL2009PLC187584	JBM OGIHARA AUTOMOTIVE INDIA LIMITED	Director	13/02/2009	13/02/2009	-	Active	NO
32	U28900DL2010PLC211731	M J CASTING LIMITED	Director	23/12/2010	23/12/2010	-	Active	NO
33	U28113DL2011PTC212192	FJM CYLINDERS PRIVATE LIMITED	Director	05/01/2011	05/01/2011	-	Active	NO
34	U29253HR2012PTC047407	JBM CORTUBI EXHAUST SYSTEMS PRIVATE LIMITED	Director	11/10/2012	11/10/2012	-	Active	NO

Name :

Mr. Nishant Arya

Designation :

Director

Address :

Neelanchal No.7, Bandh Road, Chandan – Hulla, Mehrauli, New Delhi – 110030, India

Date of Birth/Age :

01.11.1986

Date of Appointment :

22.09.2009

DIN No.:

00004954

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	U74899DL1997PLC086432	NEEL METAL PRODUCTS LIMITED	Whole-time director	01/07/2010	04/06/2005	-	Active	NO
2	U74140DL2007PTC158597	NEEL METAL FANALCA ENVIRONMENT MANAGEMENT PRIVATE LIMITED	Nominee director	02/02/2007	02/02/2007	-	Active	NO
3	U13203DL2007PLC164433	ANS STEEL TUBES LIMITED	Director	06/06/2007	06/06/2007	28/06/2011	Active	NO
4	L29130DL1987PLC027342	JAY BHARAT MARUTI LIMITED	Director	30/08/2008	09/10/2007	-	Active	NO
5	U29220DL2007PTC171360	JBM MA AUTOMOTIVE PRIVATE LIMITED	Director	12/12/2007	12/12/2007	-	Active	NO
6	U74140DL2008PTC172320	JBM ENVIRONMENT MANAGEMENT PRIVATE LIMITED	Director	07/01/2008	07/01/2008	-	Active	NO
7	U28111DL2006PTC155129	ARCELOR NEEL TAILORED BLANK PRIVATE LIMITED	Director	29/09/2008	06/06/2008	-	Active	NO
8	U28910DL2008PLC185040	JBM MOTORS LIMITED	Director	19/11/2008	19/11/2008	-	Active	NO
9	U27100DL2009PLC187584	JBM OGIHARA AUTOMOTIVE INDIA LIMITED	Director	13/02/2009	13/02/2009	-	Active	NO
10	U80302DL2009PTC190802	JBM CADMIUM PRIVATE LIMITED	Director	02/06/2009	02/06/2009	-	Active	NO
11	L74899DL1996PLC083073	JBM AUTO LIMITED	Director	04/09/2009	30/07/2009	-	Active	NO
12	U34300DL2003PTC123285	NEEL AUTO PRIVATE LIMITED	Director	24/09/2009	22/09/2009	-	Active	NO
13	U45200DL2008PTC178619	JBM PROJECTS & INFRASTRUCTURE PRIVATE LIMITED	Director	02/08/2011	22/07/2011	-	Active	NO
14	U29253HR2012PTC046397	JBM KANEMITSU PULLEYS PRIVATE LIMITED	Director	02/07/2012	02/07/2012	-	Active	NO
15	U29253HR2012PTC047407	JBM CORTUBI EXHAUST SYSTEMS PRIVATE LIMITED	Director	11/10/2012	11/10/2012	-	Active	NO
16	U40300DL2013PTC249282	JBM SOLAR PRIVATE LIMITED	Director	11/03/2013	11/03/2013	-	Active	NO
17	U40106DL2013PTC250286	JBM SOLAR POWER PRIVATE LIMITED	Director	04/04/2013	04/04/2013	-	Active	NO
18	U74140DL2011PTC227157	JBM CORPORATE SERVICES PRIVATE LIMITED	Additional director	02/05/2013	02/05/2013	-	Active	NO

Name :

Mr. Anand Swaroop Khandelwal

Designation :

Nominee director

Address :

C – 5A/ 14, Second Floor, Janakpuri, New Delhi – 110058, India

Date of Birth/Age :

07.10.1960

Date of Appointment :

15.12.2003

DIN No.:

00004816

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	U74899DL1995PLC067432	JBM INTERNATIONAL LIMITED	Director	18/04/1995	18/04/1995	-	Active	NO
2	U34300DL2003PTC123285	NEEL AUTO PRIVATE LIMITED	Nominee director	15/12/2003	15/12/2003	-	Active	NO
3	U45201DL2003PTC120054	SATISH BUILDWELL PRIVATE LIMITED	Director	03/03/2005	03/03/2005	-	Active	NO
4	U45201DL2006PTC144716	SHREEAUMJI BUILDWELL PRIVATE LIMITED	Director	12/01/2006	12/01/2006	-	Active	NO
5	U45201DL2006PTC144715	SHREEAUMJI PROPERTIES PRIVATE LIMITED	Director	12/01/2006	12/01/2006	-	Active	NO
6	U45201DL2006PTC144717	SHREEAUMJI BUILDERS PRIVATE LIMITED	Director	12/01/2006	12/01/2006	-	Active	NO
7	U74899DL2006PTC144712	HICOM INFRASTUCTURE PRIVATE LIMITED	Director	12/01/2006	12/01/2006	-	Active	NO
8	U70109DL2006PTC149250	SHREEAUMJI BUILDTECH PRIVATE LIMITED	Director	27/05/2006	27/05/2006	-	Active	NO
9	U70109DL2006PTC150431	COMTECH INFRASTRUCTURE PRIVATE LIMIED.	Director	30/06/2006	30/06/2006	-	Active	NO
10	U35990DL1995PLC071596	JAYBHARAT BREED LIMITED	Director	30/09/2008	09/12/2006	-	Amalgamated	NO
11	U13203DL2007PLC164433	ANS STEEL TUBES LIMITED	Director	17/06/2013	01/11/2007	-	Active	NO
12	U29220DL2007PTC171360	JBM MA AUTOMOTIVE PRIVATE LIMITED	Director	14/05/2009	12/03/2008	-	Active	NO
13	U45200DL2008PTC178619	JBM PROJECTS & INFRASTRUCTURE PRIVATE LIMITED	Director	27/05/2008	27/05/2008	-	Active	NO
14	U28910DL2008PLC185040	JBM MOTORS LIMITED	Director	19/11/2008	19/11/2008	-	Active	NO
15	U34300TN1998PTC046810	JBM AUTO SYSTEM PRIVATE LIMITED	Director	04/08/2011	23/02/2009	-	Active	NO
16	U80302DL2009PTC190802	JBM CADMIUM PRIVATE LIMITED	Director	02/06/2009	02/06/2009	-	Active	NO
17	U28931DL2008PTC174381	INDO TOOLINGS PRIVATE LIMITED	Director	20/08/2009	01/07/2009	28/01/2013	Active	NO
18	U27100DL2009PLC187584	JBM OGIHARA AUTOMOTIVE INDIA LIMITED	Director	28/07/2010	21/09/2009	-	Active	NO
19	U28900DL2010PLC211731	M J CASTING LIMITED	Director	23/12/2010	23/12/2010	-	Active	NO
20	U34201TN2011FTC079145	YOROZU JBM AUTOMOTIVE TAMIL NADU PRIVATE LIMITED	Director	10/02/2011	10/02/2011	-	Active	NO
21	U74140DL2011PTC227157	JBM CORPORATE SERVICES PRIVATE LIMITED	Director	08/11/2011	08/11/2011	-	Active	NO
22	U28111DL2006PTC155129	ARCELOR NEEL TAILORED BLANK PRIVATE LIMITED	Alternate director	19/06/2012	19/06/2012	-	Active	NO
23	U29253HR2012PTC046397	JBM KANEMITSU PULLEYS PRIVATE LIMITED	Alternate director	17/07/2012	17/07/2012	-	Active	NO
24	U74140DL2007PTC158597	NEEL METAL FANALCA ENVIRONMENT MANAGEMENT PRIVATE LIMITED	Nominee director	20/12/2012	20/12/2012	-	Active	NO
25	U40300DL2013PTC249282	JBM SOLAR PRIVATE LIMITED	Director	11/03/2013	11/03/2013	-	Active	NO
26	U40106DL2013PTC250286	JBM SOLAR POWER PRIVATE LIMITED	Director	04/04/2013	04/04/2013	-	Active	NO

Name :

Mr. Bharat Bhushan Gupta

Designation :

Nominee director

Address :

L – 19/17, Ground Floor, DLF – Phase – III, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

16.10.1955

Date of Appointment :

15.12.2003

DIN No.:

00004733

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	U34300DL2003PTC123285	NEEL AUTO PRIVATE LIMITED	Nominee director	15/12/2003	15/12/2003	-	Active	NO
2	U28111DL2006PTC155129	ARCELOR NEEL TAILORED BLANK PRIVATE LIMITED	Nominee director	01/11/2006	01/11/2006	-	Active	NO
3	U13203DL2007PLC164433	ANS STEEL TUBES LIMITED	Director	28/06/2011	01/11/2007	-	Active	NO
4	U28931DL2008PTC174381	INDO TOOLINGS PRIVATE LIMITED	Director	22/02/2008	22/02/2008	-	Active	NO
5	U29220DL2007PTC171360	JBM MA AUTOMOTIVE PRIVATE LIMITED	Alternate director	12/03/2008	12/03/2008	14/05/2009	Active	NO
6	U74999MP2004SGC020090	PITHAMPUR AUTO CLUSTER LIMITED	Nominee director	25/04/2008	25/04/2008	-	Active	NO
7	U34392HR1999PTC034392	NAGATA INDIA PRIVATE LIMITED	Nominee director	11/09/2009	11/09/2009	-	Active	NO
8	U27100DL2009PLC187584	JBM OGIHARA AUTOMOTIVE INDIA LIMITED	Alternate director	07/10/2010	07/10/2010	10/11/2012	Active	NO
9	U29253HR2012PTC047407	JBM CORTUBI EXHAUST SYSTEMS PRIVATE LIMITED	Director	11/10/2012	11/10/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Harish Sharma
Designation :	Accounts and Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Neel Metal Products Limited, India	54765049
Nishant Arya	1
Total	54765050

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Two Wheeler Parts.

Products/ Services :

ITC Code No.	Product Descriptions
87141900	Parts of two wheelers

Imports :

Products :

Raw material

Countries :

· Thailand

China

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

Retailers and End Users

No. of Employees :

2000 (Approximately)

Bankers :

· Canara Bank, Prime Corporate Branch - II, World Trade Tower, Barakhamba Lane, New Delhi – 110001, India

CANARA BANK, M M Reddy Complex, Old Bangalore Road, Hosur, Hosur - 635109, Tamilnadu, India

Canara Bank, Parliament Street, New Delhi - 110001, India

Standard Chartered Bank, Narain Manzil, 23, Barakhamba Road, New Delhi - 110001, India

State Bank of India

HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India

ICICI Bank Limited

State Bank of Mysore

Axis Bank Limited

Kotak Mahindra Bank

Bajaj Finance Limited

Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
SHORT-TERM BORROWINGS
Working capital loans from banks	335.793	401.918
Loans repayable on demand	20.924	0.000
Total	356.717	401.918

Banking Relations :	--
Financial Institution :	Bajaj Finance Limited, Akurdi, Pune - 411035, Maharashtra, India
Auditors :
Name :	Sahni natrajan and bahl Chartered Accountants
Address :	303, mansarovar, 90, Nehru Place, New Delhi – 110019, India
Tel. No.:	91-11-26224755/ 26433003/ 3004/ 3005/ 47347000
Fax No.:	91-11-26485081
E-Mail :	snb@snbindia.com
Income-tax PAN of auditor or auditor's firm :	AABFS5696R
Joint venture :	· Thai Summit R&D Next Technology Company Limited Thai Summit Harness Public Company Thai Summit Autoparts Industry Company Limited
Associate :	· PT Indonesia Neel Metal Products Limited [U74899DL1997PLC086432] Ans Steel Tubes Limited

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
55,000,000	Equity Shares	Rs. 10/- each	Rs. 550.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
54,765,050	Equity Shares	Rs. 10/- each	Rs. 547.651 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	547.651	510.000
(b) Reserves & Surplus	63.297	31.470
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	12.000
Total Shareholders’ Funds (1) + (2)	610.948	553.470
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	57.725	28.519
(c) Other long term liabilities	427.630	587.650
(d) long-term provisions	13.430	12.067
Total Non-current Liabilities (3)	498.785	628.236
(4) Current Liabilities
(a) Short term borrowings	662.307	685.984
(b) Trade payables	1375.382	1324.614
(c) Other current liabilities	248.711	298.182
(d) Short-term provisions	19.810	0.647
Total Current Liabilities (4)	2306.210	2309.427
TOTAL	3415.943	3491.133
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1794.838	1822.320
(ii) Intangible Assets	2.690	0.995
(iii) Capital work-in-progress	58.532	49.307
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	34.987	44.882
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	1891.047	1917.504
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	324.302	267.949
(c) Trade receivables	1030.745	1119.779
(d) Cash and cash equivalents	96.458	67.742
(e) Short-term loans and advances	73.391	118.159
(f) Other current assets	0.000	0.000
Total Current Assets	1524.896	1573.629
TOTAL	3415.943	3491.133

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		510.000
2] Share Application Money		1.142
3] Reserves & Surplus		12.349
4] (Accumulated Losses)		0.000
NETWORTH		523.491
LOAN FUNDS
1] Secured Loans		1335.962
2] Unsecured Loans		0.000
TOTAL BORROWING		1335.962
DEFERRED TAX LIABILITIES		25.116
TOTAL		1884.569
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1666.562
Capital work-in-progress		120.254
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	244.499
	Sundry Debtors	985.681
	Cash & Bank Balances	24.670
	Other Current Assets	36.334
	Loans & Advances	42.546
Total Current Assets		1333.730
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	1143.015
	Other Current Liabilities	75.672
	Provisions	17.290
Total Current Liabilities		1235.977
Net Current Assets		97.753
MISCELLANEOUS EXPENSES		0.000
TOTAL		1884.569

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	9836.300	8658.660	6031.340
		Other Income	11.410	10.220	5.980
		TOTAL (A)	9847.710	8668.880	6037.320
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	9397.250	8334.750	5718.040
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		450.460	334.130	319.280
Less	FINANCIAL EXPENSES (D)		168.540	172.310	145.510
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		281.920	161.820	173.770
Less/ Add	DEPRECIATION/ AMORTISATION (F)		196.020	137.180	119.960
	PROFIT BEFORE TAX (E-F) (G)		85.900	24.640	53.810
Less	TAX (H)		57.070	5.520	35.230
	PROFIT AFTER TAX (G-H) (I)		28.830	19.120	18.580
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	6.320	6.800	0.920
	Earnings Per Share (Rs.)		0.53	0.37	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.29	0.22	0.31
Net Profit Margin (PBT/Sales)	(%)	0.87	0.28	0.89
Return on Total Assets (PBT/Total Assets}	(%)	2.56	0.72	1.79
Return on Investment (ROI) (PBT/Networth)		0.14	0.04	0.10
Debt Equity Ratio (Total Debt/Networth)		1.08	1.24	2.55
Current Ratio (Current Asset/Current Liability)		0.66	0.68	1.08

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 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	Yes
17]	Major suppliers	No
18]	Major customers	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10436572	30.05.2013	250,000,000.00	Bajaj Finance Limited	Akurdi Pune-, Pune, Maharashtra - 411035, India	B79504353
2	10235642	09.08.2010	100,000,000.00	Yes Bank Limited	9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai, Maharashtra - 400018, India	A92913193
3	10179460	14.12.2010 *	200,000,000.00	Canara Bank	Prime Corporate Branch - II, World Trade Tower, Barakhamba Lane, New Delhi - 110001, India	B05131313
4	10145619	31.03.2009 *	100,000,000.00	Canara Bank	M M Reddy Complex, Old Bangalore Road, Hosur - 635109, Tamilnadu, India	A60937042
5	80016279	12.07.2007 *	807,800,000.00	State Bank of India	Industrial Finance Branch, 155, Anna Salai, Chennai - 600002, Tamilnadu, India	A19898550
6	80002517	16.11.2006 *	65,000,000.00	Standard Chartered Bank	Narain Manzil, 23, Barakhamba Road, New Delhi - 110001, India	-

* Date of charge modification

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
SHORT-TERM BORROWINGS
Working capital loans from banks	125.590	124.566
Other loans and advances	180.000	159.500
Total	305.590	284.066

Note:

The registered office of the company has been shifted from Neel House, Lado Sarai Opposite Qutab Minar, New Delhi – 110030 to the present address w.e.f. 03.07.2010.

BUSINESS PERFORMANCE

In a recent move the Joint Venture between Thai Summit Autoparts Industry Company Limited of Thailand and the Neel Metal Products limited of India has been dissolved from September 24, 2012. On September 24, 2012 the Neel Metal Products Limited has purchased the balance 50% equity shares of Thai Summit Neel Auto Private Limited. Consequent to this the name of the Company has been changed from Thai Summit Neel Auto Private Limited to Neel Auto Private Limited w.e.f. September 26, 2012 and the new certificate of incorporation is also obtained from Registrar of Companies, Delhi and Haryana. Accordingly the Balance Sheet of the Company has been prepared in its new name.

The Company recorded Net sales of Rs.10359.500 million as against Rs.9115.480 Million last year thereby recording an increase of 13.65 %. The Company also recorded a Profit before Depreciation Interest and Tax of Rs.450.460 as against Rs.334.130 million in the previous year. There is a nominal increase in the profit as compared to growth in sales. Market price for consumable and other items are increasing year on year. Automobile industry is experiencing good market growth.

FIXED ASSETS:

· Land

· Buildings

· Office building

· Plant and equipment

· Factory equipments

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

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. 59.69
UK Pound	1	Rs. 91.66
Euro	1	Rs. 78.69

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		35

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.