MIRA INFORM REPORT

Report Date :

17.06.2013

IDENTIFICATION DETAILS

Name :	MANGLA METAL PRIVATE LIMITED
Registered Office :	49/14, Steet No. 15, Main Bawana Road, Samaipur, New Delhi – 110042
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	13.09.1985
Com. Reg. No.:	55-022128
Capital Investment / Paid-up Capital :	Rs. 9.594 Millions
CIN No.: [Company Identification No.]	U74899DL1985PTC022128
PAN No.: [Permanent Account No.]	AAACM1603J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Tin and Plastic Container.
No. of Employees :	40 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 41800
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The company has modest scale of operations. The financial position is also moderate. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing 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. Bhanu Gupta
Designation :	Director
Contact No.:	91-9899766655
Date :	10.06.2013

LOCATIONS

Registered Office :	49/14, Steet No. 15, Main Bawana Road, Samaipur, New Delhi – 110042, India
Tel. No.:	91-11-27836503/ 32915855
Mobile No.:	91-9899766655 [Mr. Bhanu Gupta]
Fax No.:	91-11-27836503
E-Mail :	sariaguptaco@yahoo.co.in manglametals@gmail.com sales@manglametals.com
Website :	http://www.manglametals.com
Location :	Owned

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Anil Kumar Gupta

Designation :

Whole-time director

Address :

3, Block-BQ Shalimar Bagh, Delhi – 110088, India

Date of Birth/Age :

01.08.1957

Date of Appointment :

13.09.1985

DIN No.:

00205074

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	U74899DL1985PTC022128	MANGLA METAL PRIVATE LIMITED	Whole-time director	13/09/1985	13/09/1985	Active	NO
2	U55101DL2004PTC128630	D.S.MOTELS PRIVATE LIMITED	Whole-time director	24/05/2006	24/05/2006	Active	NO

Name :

Mrs. Swadesh Gupta

Designation :

Whole-time director

Address :

3, Block-BQ Shalimar Bagh, Delhi – 110088, India

Date of Birth/Age :

17.12.1951

Date of Appointment :

13.09.1985

DIN No.:

00212132

Name :

Mrs. Anjana Gupta

Designation :

Director

Address :

BQ-3, Shalimar Bagh, New Delhi – 110088, India

Date of Birth/Age :

04.12.1959

Date of Appointment :

01.01.1989

DIN No.:

00233799

Name :

Mr. Bhanu Gupta

Designation :

Director

Address :

3, Block-BQ Shalimar Bagh, Delhi – 110088, India

PAN No.:

AAQPG6468G

Voter ID :

JCSO717991

DIN No.:

00204357

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Anil Kumar Gupta	77868
Swadesh Gupta	182407
Raghuber Dayal Gupta	16550
Bhanu Gupta	45700
Suruchi Gupta	11590
Akansha Gupta	16920
Abhinav Gupta	45590
Jaya Gupta	3510
Anil Kumar Gupta (HUF)	35800
Anu Gupta	3040
Ram Bahcan	10
Anjana Gupta	142607
Vijay Pal Gupta	72058
H.K. Gupta (HUF)	50
Vaibhav Gupta	2100
Radhey Lal Gupta	50
Shally Garg	96500
Namita Gupta	57000
Manish Gupta	150000
Total	959350

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Tin and Plastic Container.
Exports :
Products :	Tin and Plastic Container
Countries :	¯ USA ¯ South Arab etc.
Imports :
Products :	Raw Material
Countries :	¯ Malaysia ¯ Saudi etc.
Terms :
Selling :	L/C and Cash
Purchasing :	L/C and Cash

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

40 (Approximately)

Bankers :

¯ Axis Bank Limited, 2^nd Floor, Statesman House, 148, Barakhamba Road, New Delhi – 110001, India

¯ Bank of Baroda, Kingsway Camp, Delhi – 110009, India

¯ HDFC Bank Limited

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
LONG TERM BORROWINGS
Term Loans
From HDFC Bank (Against Car)	0.319	0.000
Bank of Baroda A/c 21310600024201	1.352	0.000
Bank of Baroda A/c 21310600024249 (Secured by Stock in hand, Plant and Machinery)	3.157	0.000
SHORT TERM BORROWINGS
Loans repayable on demand Overdraft with Bank of Baroda (Secured by Stock in hand, Plant and Machinery)	15.038	9.233
Term Loan Bank of Baroda A/c 21310600024201	0.584	0.000
Bank of Baroda A/c 21310600024249 (Secured by Stock in hand, Plant and Machinery)	1.500	0.000
From HDFC Bank (Against Car)	0.220	0.000
Total	22.169	9.233

Banking Relations :	--
Auditors :
Name :	Saria Gupta and Company Chartered Accountants
Address :	10174/1A, Gurudwara Road, Karol Bagh, Delhi – 110005, India
Income-tax PAN of auditor or auditor's firm :	AABFS0541S

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs. 10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
959,350	Equity Shares	Rs. 10/- each	Rs. 9.594 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	9.594	2.350
(b) Reserves & Surplus	0.470	0.371
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.400	0.265
(3) Non-current liabilities
(a) long-term borrowings	4.828	0.000
(b) Deferred tax liabilities (Net)	0.091	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
(4) Current liabilities
(a) Short term borrowings	18.410	10.248
(b) Trade payables	2.744	3.351
(c) Other current liabilities	0.908	1.042
(d) Short-term provisions	0.379	0.201
TOTAL	37.824	17.828
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.462	3.933
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	3.276
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.019
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	12.116	3.963
(c) Trade receivables	7.015	4.664
(d) Cash and cash equivalents	0.790	0.012
(e) Short-term loans and advances	7.441	1.961
(f) Other current assets	0.000	0.000
TOTAL	37.824	17.828

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.350
2] Share Application Money		0.050
3] Reserves & Surplus		0.341
4] (Accumulated Losses)		0.000
NETWORTH		2.741
LOAN FUNDS
1] Secured Loans		3.018
2] Unsecured Loans		2.039
TOTAL BORROWING		5.057
DEFERRED TAX LIABILITIES		0.000
TOTAL		7.798
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.417
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.071
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.052
	Sundry Debtors	2.142
	Cash & Bank Balances	0.152
	Other Current Assets	0.000
	Loans & Advances	1.005
Total Current Assets		6.351
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.407
	Other Current Liabilities	0.547
	Provisions	0.087
Total Current Liabilities		1.041
Net Current Assets		5.310
MISCELLANEOUS EXPENSES		0.000
TOTAL		7.798

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income		26.136	8.370
		Other Income		NA	0.000
		TOTAL	NA	NA	8.370
Less	EXPENSES
		Purchase
		Other Direct expenses
		Payment to Employees
		Selling Administrative and other expenses
		TOTAL	NA	NA	7.745
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		4.089	1.537	0.625
	FINANCIAL EXPENSES AND DEPRECIATION/ AMORTISATION		3.831	1.431	0.624
	PROFIT BEFORE TAX		0.258	0.106	0.001
Less	TAX		0.160	0.076	(0.096)
	PROFIT AFTER TAX		0.098	0.030	0.097
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.346	0.316	0.219
	BALANCE CARRIED TO THE B/S		0.444	0.346	0.316
	Earnings Per Share (Rs.)		0.46	0.13	0.41

Expected Sales (2013-2014): Rs. 100.000 Millions

The above information has been parted by Mr. Bhanu Gupta [Director]

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	1.16
Net Profit Margin (PBT/Sales)	(%)	NA	0.41	0.01
Return on Total Assets (PBT/Total Assets}	(%)	0.68	0.73	0.01
Return on Investment (ROI) (PBT/Networth)		0.02	0.04	0.00
Debt Equity Ratio (Total Debt/Networth)		2.22	3.43	1.84
Current Ratio (Current Asset/Current Liability)		1.22	0.71	6.10

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 two years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
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)	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	No

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
SHORT TERM BORROWINGS
Loans and advances from related parties
Akanksha Gupta	0.659	0.034
Anil Kumar Gupta (HUF)	0.132	0.118
Anil Kumar Gupta (Director)	0.000	0.416
Anjana Gupta (Director)	0.000	0.310
R.D Gupta (HUF)	0.274	0.134
Vijay Pal Gupta	0.003	0.003
Total	1.068	1.015

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74899DL1985PTC022128
Name of the company	MANGLA METAL PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	49/14, Steet No. 15, Main Bawana Road, Samaipur, New Delhi – 110042, India Email: sariaguptaco@yahoo.co.in
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	Axis Bank Limited, 2^nd Floor, Statesman House, 148, Barakhamba Road, New Delhi – 110001, India Email: mohd.aqib@axisbank.com
Nature of description of the instrument creating or modifying the charge	Composite Hypothecation Deed (Current Assets, Movables, Plant and Machinery)
Date of instrument Creating the charge	20.03.2013
Amount secured by the charge	Rs. 24.402 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanction letter no. Axisb/del1/SME/2012-13/15166 dated 07.03.2013 to be amended from time to time. Terms of Repayment As per sanction letter no. Axisb/del1/SME/2012-13/15166 dated 07.03.2013 to be amended from time to time. Margin As per sanction letter no. Axisb/del1/SME/2012-13/15166 dated 07.03.2013 to be amended from time to time. Extent and Operation of the charge Extent and Operation - 100%
Short particulars of the property charged	Hypothecation by way of first and exclusive charge over all present and future current assets and movable fixed assets (excluding vehicles) of the company stored or to be stored at the company's godowns or premises or wherever else the same may be.

FIXED ASSETS:

¯ Land

¯ Building

¯ Furniture

¯ Fan

¯ Machinery

¯ Mobile Phone

¯ Tools

¯ Dies and Moulds

¯ Generator

¯ Electric Installation

¯ Voltage Stabilizer

¯ Television

¯ Fire extinguisher

¯ Computer

¯ Air Conditioner

¯ Vehicles

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. 57.74
UK Pound	1	Rs. 90.64
Euro	1	Rs. 77.02

INFORMATION DETAILS

Information Gathered by :	NYN
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	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	2
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.