MIRA INFORM REPORT

Report Date :

11.06.2013

IDENTIFICATION DETAILS

Name :	VASUNDHRA SINTERED PRIVATE LIMITED
Registered Office :	S-90, Badli Industrial Estate, Delhi – 110042
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.06.1999
Com. Reg. No.:	55-100139
Capital Investment / Paid-up Capital :	Rs.3.399 Millions
CIN No.: [Company Identification No.]	U74999DL1999PTC100139
TAN No.: [Tax Deduction & Collection Account No.]	DELV05046G
PAN No.: [Permanent Account No.]	AAACV8778K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing, Distributor, Exporter, Supplier and Trader of Various Ferrous and Non Ferrous
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 23000
Status :	Small Company
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small 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

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. Nitin Gupta
Designation :	Manager
Contact No.:	91-9313373421
Date :	28.05.2013

LOCATIONS

Registered Office/Factory :	S-90, Badli Industrial Estate, Delhi – 110042, India
Tel No.:	91-11-27853260 / 27857501
Mobile No.:	91-9313373421 (Mr. Nitin Gupta)
Fax No.:	Not Available
E-Mail :	vasundra@vsnl.com
Location:	Owned
Factory :	Jatolia Road, Village Saidpu, Sonepat, Haryana-131402, Uttar Pradesh, India

DIRECTORS

As on 29.09.2012

Name :

Mr. Satish Kumar Gupta

Designation :

Director

Address :

A-1/77, Sector-8, Rohini, Delhi – 110085, India

Date of Birth/Age :

27.03.1950

Date of Appointment :

14.07.1999

DIN No.:

02527812

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	U74899DL1989PTC036357	ALIPUR PIPE AND STEEL TUBING INDUSTRIES PRIVATE LIMITED	Director	07-06-91	07-06-91	-	Active	NO
2	U27101RJ1991PTC006167	IMPEX METAL PRIVATE LIMITED	Director	03-09-91	03-09-91	30-03-12	Active	NO
3	U74999DL1999PTC100139	VASUNDHRA SINTERED PRIVATE LIMITED	Director	14-07-99	14-07-99	-	Active	NO

Name :

Mr. Ashok Kumar Gupta

Designation :

Director

Address :

BQ-62, Shalimar Bagh, Delhi – 110088, India

Date of Birth/Age :

25.11.1947

Date of Appointment :

18.06.1999

DIN No.:

02619288

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	U74899DL1989PTC036357	ALIPUR PIPE AND STEEL TUBING INDUSTRIES PRIVATE LIMITED	Director	23-05-89	23-05-89	-	Active	NO
2	U27101RJ1991PTC006167	IMPEX METAL PRIVATE LIMITED	Director	03-09-91	03-09-91	30-03-12	Active	NO
3	U74999DL1999PTC100139	VASUNDHRA SINTERED PRIVATE LIMITED	Director	08-06-99	08-06-99	-	Active	NO

Name :

Mr. Vikas Gupta

Designation :

Director

Address :

A-1/77, Sector-8, Rohini, Delhi – 110085, India

Date of Birth/Age :

13.01.1976

Date of Appointment :

18.06.1999

DIN No.:

00545395

KEY EXECUTIVES

Name :	Mr. Nitin Gupta
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Ashok Kumar Gupta	67500
Vikas Gupta	46600
Satish Kumar Gupta	93300
Krishan Kumar Gupta	35000
Sarita Gupta	20000
Vipin Kumar Gupta	60000
Anil Kumar Gupta	17500
Total	339900

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing, Distributor, Exporter, Supplier and Trader of Various Ferrous and Non Ferrous.
Exports :
Products :	Finished Goods
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

50 (Approximately)

Bankers :

Punjab National Bank, Kamla Nagar, Delhi - 110007, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Punjab National Bank Cash Credit (1^st Charge on Stocks, Book Debts Bills to Collection by way of Hypothecation and 2^nd charge on Fixed / Block Assets of the company and personal guarantee of directors)	0.340	0.506
Total	0.340	0.506

Banking Relations :	--
Auditors :
Name :	O P Dadu and Company Chartered Accountants
Address :	24/4834, Ansari Road, Darya Ganj, Delhi-110002, India
Tel. No.:	91-11-23275482 / 23253645
Fax No.:	91-11-23253645
PAN No.:	AAKPD4364L

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
339900	Equity Shares	Rs.10/- each	Rs.3.399 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		3.399	3.399	3.399
2] Share Application Money		0.000	0.000	0.00
3] Reserves & Surplus		2.467	2.389	1.636
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		5.866	5.788	5.035
LOAN FUNDS
1] Secured Loans		0.340	0.506	0.102
2] Unsecured Loans		1.408	1.394	1.381
TOTAL BORROWING		1.747	1.900	1.483
DEFERRED TAX LIABILITIES		0.672	0.000	0.000
TOTAL		8.285	7.688	6.518
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.228	5.170	5.436
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.924	0.958	0.974
	Sundry Debtors	1.648	1.507	0.649
	Cash & Bank Balances	0.079	0.019	0.041
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.547	0.642	0.240
Total Current Assets		3.198	3.126	1.904
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.518	0.200	0.118
	Other Current Liabilities	0.430	0.222	0.459
	Provisions	0.193	0.186	0.245
Total Current Liabilities		1.141	0.608	0.822
Net Current Assets		2.057	2.518	1.082
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8.285	7.688	6.518

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	10.009	9.092	8.502
		Other Income	0.049	0.077	0.030
		TOTAL (A)	10.058	9.169	8.532
Less	EXPENSES
		Material Consumed	5.145	5.519
		Employee Benefit Expenses	0.905	0.759
		Other Expenses	2.176	1.723
		Changes in Inventories	0.334	(0.214)
		TOTAL (B)	8.560	7.787	7.108
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.498	1.382	1.424
Less	FINANCIAL EXPENSES (D)		0.043	0.021	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.455	1.361	1.424
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.492	0.423	0.420
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.963	0.938	1.004
Less	TAX (H)		0.323	0.186	0.160
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		0.640	0.752	0.844
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.388	1.636	0.792
Less	Deferred Tax Liability		0.562	0.000	0.000
	BALANCE CARRIED TO THE B/S		2.466	2.388	1.636
	Earnings / (Loss) Per Share (Rs.)		1.88	2.21	2.48

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	6.36	8.20	9.89
Net Profit Margin (PBT/Sales)	(%)	9.62	10.32	11.81
Return on Total Assets (PBT/Total Assets}	(%)	10.22	11.31	13.68
Return on Investment (ROI) (PBT/Networth)		0.16	0.16	0.20
Debt Equity Ratio (Total Debt/Networth)		0.30	0.33	0.29
Current Ratio (Current Asset/Current Liability)		2.80	5.14	2.32

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	No
17]	Major suppliers	No
18]	Major customers	No
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	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	No

UNSECURED LOAN

Particulars	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
Directors	1.266	1.266
Others	0.142	0.128
Total	1.408	1.394

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74999DL1999PTC100139
Name of the company	VASUNDHRA SINTERED PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	S-90, Badli Industrial Estate, Delhi – 110042, India E-Mail: vasundra@vsnl.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge Others (Hypothecation of Tata Indica Vista Car)
Particular of charge holder	Punjab National Bank, Kamla Nagar, Delhi - 110007, India E-mail: bo0154@pnb.co.in
Nature of instrument creating charge	Letter of hypothecation for Car Loan. Hypothecation of Assets to secure Term Loans.
Date of instrument Creating the charge	30.05.2012
Amount secured by the charge	Rs. 0.400 million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest shall be charged @ 12% per annum. Terms of Repayment Repayment in Equated Monthly Installments of Rs. 0.007 million. Margin As per Agreement. Extent and Operation of the charge First Charge for Rs. 0.400 million plus interest and charges thereon. Others In case of any Default, 2% additional interest rate shall be charged.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First Charge for Rs. 0.400 millions on Tata Indica Vista Car present and future purchased out of bank loan. First Charge for Rs. 0.400 millions on All Assets present and future of the Company.

FIXED ASSETS

· Freehold Land

· Buildings

· Plant and Machinery

· Office and Other Equipment

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

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	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		29

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.