MIRA INFORM REPORT

Report Date :

11.06.2013

IDENTIFICATION DETAILS

Name :	AIRMISTIC ENGINEERS PRIVATE LIMITED
Registered Office :	Sushila Sadan, 22E/1, Subhash Nagar, Shanker Ashram Chowk, Jwalapur, Haridwar – 249407, Uttarakhand
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	16.05.2011
Com. Reg. No.:	23-033507
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U52100UR2011PTC033507
PAN No.: [Permanent Account No.]	AAJCA9056E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Fabrication, Installing, Testing Of Heating, Ventilation and Air Conditioning Projects like Air Handling Units, FCU, TFA Unit etc.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 600
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively new and small company in its field. The company has achieved minimal profits in its first year of operation 2012. The financial position is below-average but improving. However, trade relations are reported as improving. Business is active. Payment terms are slow but correct. The company can be considered for small to mediocre 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 – 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

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. Sanjeev Srivastava Kumar
Designation :	Director
Contact No.:	91-9319771337
Date :	31.05.2013

LOCATIONS

Registered Office :	Sushila Sadan, 22E/1, Subhash Nagar, Shanker Ashram Chowk, Jwalapur, Haridwar – 249407, Uttarakhand, India
Tel. No.:	91-1334-324555
Mobile No.:	91-9319771337 (Mr. Sanjeev)
Fax No.:	Not Available
E-Mail :	vsc_ca@yahoo.com airmisticengineers@gmail.com
Website :	www.airmisticengineers.com
Area :	4500 Sq. ft
Location :	Owned
Factory 1 :	Plot No.12, Ramdhan, Near Industrial Area, Bahadrabad, Haridwar, Uttarakhand, India
Area :	20000 Sq. ft
Location :	Owned
Factory 2 :	N- 103, Shivalik Nagar, Bhel, Ranipur, District - Haridwar, Uttarakhand, India

DIRECTORS

As on: 25.08.2012

Name :	Mr. Deepak Bath
Designation :	Director
Date of Birth/Age :	37 Years
Qualification :	B. Com
Name :	Mr. Sanjeev Kumar Srivastava
Designation :	Director
Address :	H No.100, Moh-Dat Mandi, PO- Jwalapur, Haridwar – 249407, Uttarakhand, India
Date of Birth/Age :	03.06.1972
Qualification :	B. Tech
Date of Appointment :	16.05.2011
DIN No.:	03509910
Name :	Mr. Abhishek Verma
Designation :	Director
Address :	Shivaji Nagar, Pashulok, Rishikesh, Dehradun – 249201, Uttarakhand, India
Date of Birth/Age :	09.02.1983
Date of Appointment :	16.05.2011
DIN No.:	03509912

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 25.08.2012

Names of Shareholders	No. of Shares
Sanjeev Kumar Srivastava	5000
Abhishek Verma	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on: 25.08.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Fabrication, Installing, Testing Of Heating, Ventilation and Air Conditioning Projects like Air Handling Units, FCU, TFA Unit etc.
Products :	Air Handling Units Air Curtain FCU Pressure Gauges TFA Unit Temp Gauge Forced Draft Ventilation Unit MS Piping Exhaust System Valves For Piping Humidifier Thermal Insulation Sheet Metal Work Industrial Fans Mechanical Work Motor Pulley Hot And Cold Insulation Grills Adhesive Dampers HEPA Filters Flexible Connections Pre Filters Static Pass Box Fine Filters Dynamic Pass Box Sampling Booth Horizontal Laminar Air Flow Dispensing Booth Hanging Laminar Air Flow Air Shower
Terms :
Selling :	Credit and Advance
Purchasing :	Credit and Advance

GENERAL INFORMATION

Suppliers :	Zeco Aircon Brightflow Technologies Private Limited Cee Industries India Durga Treading Company Indesign Compunetwork Mangaldeep Trading Company Sanjay and Company Hamid and Sons Shree Ramdev Trading Company
Customers :	End Users Eurolife Healthcare Private Limited
No. of Employees :	30 (Approximately)
Bankers :	Axis Bank, Haridwar, Uttarakhand, India Tel. No.: 91-1334-266830

Banking Relations :	--
Auditors 1 :
Name :	Lalit Sachdeva Chartered Accountant
Auditors 2 :
Name :	Vivek Sushil and Company Chartered Accountant
Address :	152/13, Solanipuram, Roorkee, Haridwar – 247667, Uttarakhand, India
Mobile No.:	91-9412929343/ 9917093540
PAN No.:	AAGFV4880M
Sister Concern :	· Satyam Pel · Satyam Interiors

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds	0.100
(a) Share Capital	0.074
(b) Reserves & Surplus	0.000
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
(3) Non-current liabilities	0.000
(a) long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
(4) Current liabilities
(a) Short term borrowings	0.000
(b) Trade payables	3.523
(c) Other current liabilities	0.080
(d) Short-term provisions	0.000
TOTAL	3.777
II. ASSETS
(1) Non-current assets
(a) Fixed Assets	0.146
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.086
(c) Trade receivables	2.381
(d) Cash and cash equivalents	0.338
(e) Short-term loans and advances	0.826
(f) Other current assets	0.000
TOTAL	3.777

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012
	SALES
		Income
		Other Income
		TOTAL	6.943
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	6.829
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.114
Less/ Add	DEPRECIATION/ AMORTISATION		0.021
	PROFIT BEFORE TAX		0.093
Less	TAX		0.000
	PROFIT AFTER TAX		0.093
	Earnings Per Share (Rs.)		9.30

KEY RATIOS

PARTICULARS		31.03.2012
PAT / Total Income	(%)	1.34
Return on Total Assets (PBT/Total Assets}	(%)	2.46
Return on Investment (ROI) (PBT/Networth)		0.53
Debt Equity Ratio (Total Debt/Networth)		0.00
Current Ratio (Current Asset/Current Liability)		1.01

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 one year	Yes
12]	Profitability for last one year	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
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	No

TRADE REFERENCE

• Zeco Aircon
• Eurolife Healthcare Private Limited

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.57.78
UK Pound	1	Rs.89.71
Euro	1	Rs.76.24

INFORMATION DETAILS

Information Gathered by :	HET
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
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	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.