MIRA INFORM REPORT

Report Date :

29.03.2013

IDENTIFICATION DETAILS

Name :	FONTY SUPPLY CHAIN SOLUTIONS PRIVATE LIMITED
Registered Office :	5 C Parika Grahnirman phase II, Chunabhatti, Kolar, Bhopal – 462016, Madhya Pradesh
Country :	India
Date of Incorporation :	08.08.2011
Com. Reg. No.:	026541
Capital Investment / Paid-up Capital :	Rs.5.000 Millions
CIN No.: [Company Identification No.]	U71200MP2011PTC026541
Legal Form :	Private Limited Liability Company
Line of Business :	Importer and Supplier of Machinery
No. of Employees :	08 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Recently Commenced Commercial Operation
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated in the year 2011. It has recently commenced its commercial operation from December, 2012 as confirmed by Mr. Raghuvanshi, director of the company. Trade relations are reported to be improving. Business is active. Payment terms are unknown. The company can be considered for business dealings on a secured 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 – 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.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Navneet Raghuvanshi
Designation :	Director
Contact No.:	91-9425012120
Date :	25.03.2013

LOCATIONS

Registered Office :	5 C Parika Grahnirman phase II, Chunabhatti, Kolar, Bhopal – 462016, Madhya Pradesh
Mobile No.:	91-9425012120 (Mr. Navneet Raghuvanshi)
E-Mail :	navneet@fontyscs.com
Website :	www.fontyscs.com
Location :	Owned

DIRECTORS

Name :	Mr. Navneet Raghuwanshi
Designation :	Director
Address :	E-6/2, Arera Colony, Bhopal – 462016, Madhya Pradesh, India
Date of Birth/Age :	04/03/1968
DIN No.:	03564699
Name :	Mr. Dinesh Trivedi
Designation :	Director
Address :	11 Globus Fab City Chuna Bhatti Bhopal – 462042, Madhya Pradesh, India
Date of Birth/Age :	20/09/1968
DIN No.:	03564706
Name :	Ms. Rakhi Trivedi
Designation :	Director
Address :	House No 11,Globus Fab City Chuna Bhatti Bhopal – 462042, Madhya Pradesh, India
Date of Birth/Age :	10/03/1972
DIN No.:	03569642
Name :	Mr. Deependra Singh Raghuvanshi
Designation :	Director
Address :	5 C Parika Grahnirman Phase Ii Chuna Bhatti,Kolar Road Bhopal – 462016, Madhya Pradesh, India
Date of Birth/Age :	31/10/1979
DIN No.:	03568658
Name :	Mr. Vineet Mehrotra
Designation :	Director
Address :	Flat 115 ,Tulip Glendale Tata Coop Hsg Society Opp Lok Hospital Thane (West) Mumbai - 400601, Maharashtra, India
Date of Birth/Age :	08/04/1969
DIN No.:	03568678
Name :	Mr. Santosh Mehrotra
Designation :	Director
Address :	Flat No 115 ,Tulip Glendale,Tata Coop Hsg Society Thane, Mumbai – 400601, Maharashtra, India
Date of Birth/Age :	30/09/1941
DIN No.:	03572272
Name :	Mr. Madhu Raghuwanshi
Designation :	Director
Address :	E-6/2, Arera Colony Bhopal – 462016, Madhya Pradesh, India
Date of Birth/Age :	06/09/1974
DIN No.:	03568669

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 03.01.2012

Names of Shareholders	No. of Shares
Navneet Raghuwanshi	49000
Madhu Raghuwanshi	49000
Deependra Singh Raghuwanshi	49000
Dinesh Trivedi	49000
Rakhi Trivedi	49000
Santosh Mehrotra	71500
Vineet Mehrotra	173500
Total	490000

BUSINESS DETAILS

Line of Business :	Importer and Supplier of Machinery
Imports :
Products :	Machinery
Countries :	United Kingdom Netherland Italy France
Terms :
Selling :	Credit
Purchasing :	Credit

GENERAL INFORMATION

No. of Employees :	08 (Approximately)
Bankers :	Axis Bank Limited, 165a-166 Star Arcade, M P Nagar, Zone-I, Bhopal - 462001, Madhya Pradesh, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Mr. Varun Choudhary Chartered Accountant
Address :	Bhopal
Associates/Subsidiaries :	NA

CAPITAL STRUCTURE

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

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

FINANCIAL DATA

[all figures are in Rupees Millions]

NOT DIVULGED

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 three years	No
12]	Profitability for last three years	No
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	No
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	No
27]	Financials, if provided	No
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	----------------------
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U71200MP2011PTC026541
Name of the company	FONTY SUPPLY CHAIN SOLUTIONS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	5 C Parika Grahnirman Phase II, Chuna Bhatti, Kolar, Bhopal – 462016, Madhya Pradesh, India
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	AXIS BANK LIMITED
Nature of instrument creating charge	Composite deed of Hypothecation
Date of instrument Creating the charge	17/02/2012
Amount secured by the charge	Rs.10.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest On Term Loan of Rs 8.800 Millions : Base Rate + 4.50% On Cash Credit of Rs 1.200 Millions : Base Rate + 4.50% Terms of Repayment Term Loan : Repayable in 18 quarterly installment commencing from June 2011 as follows : First 16 principal installment of Rs. 0.500 Million each Next 2 principal installment of Rs.0.400 Million each Interest is to be serviced on monthly basis. Cash Credit : Repayable on demand. Margin Term loan : Margin of 43.43 % Cash Credit : Stock and Book Debt of 25% ( receivable up to 60 days will be eligible for drawing power) Extent and Operation of the charge For Term loan : primary security - hypothecation of entire fixed assets to be created out of proposed capex for Cash credit : primary security ;- hypothecation of entire current assets ( present and future) Others loan is covered under CGTMSE guarantee
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Term loan : primary security - hypothecation of entire fixed assets to be created out of proposed capex Cash credit :primary security ; hypothecation of entire current assets (present and future)

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.54.39
UK Pound	1	Rs.82.32
Euro	1	Rs.69.54

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	SDA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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		12

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.