MIRA INFORM REPORT

Report Date :

10.05.2013

IDENTIFICATION DETAILS

Name :	HINDPRAKASH CORPORATION PRIVATE LIMITED
Registered Office :	206, Hindprakash House, Plot No.10/6, Phase-I, GIDC, Vatva, Ahmedabad-382445, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.11.2011
Com. Reg. No.:	04-067739
Capital Investment / Paid-up Capital :	Rs. 0.100 million
CIN No.: [Company Identification No.]	U27109GJ2011PTC067739
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, Importer and Distributor of Industrial Chemical.
No. of Employees :	Not divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (18)

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 :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an relatively new company having a moderate track record. Mr. Santosh the director has provided us the few general detail about the company and denied to disclose any further information. He claimed that the business is active. However, the company has not achieved any turnover during 2012 as per dated 31^st March 2012. Payments are unknown. The company can be considered for business dealings on a safe and secured trade terms and condition.

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

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. Santosh
Designation :	Director
Contact No.:	91-79-39827000
Date :	10.05.2013

LOCATIONS

Registered Office :	206, Hindprakash House, Plot No.10/6, Phase-I, GIDC, Vatva, Ahmedabad-382445, Gujarat, India
Tel. No.:	91-79-39827000
Fax No.:	Not Available
E-Mail :	info@hindprakash.com snn@hindprakash.com

DIRECTORS

As on 29.09.2012

Name :	Mr. Santosh Narayan Nambiar
Designation :	Director
Address :	C-001, Sagun Jyotee. Opposite Dhananjay Bunglow 100ft Road, Satellite Ahmedabad- 380015, Gujarat, India
Date of Birth/Age :	17.10.1970
Date of Appointment :	08.11.2011
DIN No.:	00144542
Name :	Mr. Sanjayprakash Omprakash Mangal
Designation :	Director
Address :	83, Thakore Bhai Tower, Near Law Garden, Ahmedabad-380006, Gujarat, India
Date of Birth/Age :	18.05.1972
Date of Appointment :	08.11.2011
DIN No.:	02825484

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Mangal Omprakash T	950
Mangal Hemlata Omprakash	950
Mangal Vipinprakash	950
Mangal Rashmi Vipinprakash	950
Mangal Sanjayprakash O	950
Mangal Dimple Sanjayprakash	950
Mangal Chanakayaprakash Though F and N. G. Vipinprakash O Mangal	950
Mangal Chandrguptprakash Though F and N. G. Vipinprakash O Mangal	950
Mangal Veedant S Through F and N.G. Sanjayprakash O Mangal	950
Omprakash Mangal Karta of Omprakash and Sons HUF	950
Sanjayprakash Mangal Karta of Sanjayprakash HUF	500
Total	10000

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	85.50
Other top fifty shareholders	14.50
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Importer and Distributor of Industrial Chemical.
Imports :
Products :	Chemical
Countries :	· China · Europe

GENERAL INFORMATION

No. of Employees :	Not divulged
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	Kedia and Kedia Associates Chartered Accountants
Address :	205, Kaling, 2^nd Floor, Mount Carmel School, Behind B/J/House, Ashram Road, Ahmedabad-380009, Gujarat, India
Tel. No.:	91-79-26579971 / 27454978
E-Mail :	kediaca@bsnl.in
PAN No.:	AABFK7236R
Enterprises over which key management personnel exercise significant influence :	Hindprakash International Private Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

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
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.020
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.245)
NETWORTH		(0.125)
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.157
TOTAL BORROWING		0.157
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.032
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.047
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		0.047
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.015
	Provisions	0.000
Total Current Liabilities		0.015
Net Current Assets		0.032
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.032

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012
	SALES
		Income
		Other Income
		TOTAL	0.000
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	0.245
	PROFIT/ (LOSS) During the Year		(0.245)
	Earnings / (Loss) Per Share (Rs.)		(270.68)

KEY RATIOS

PARTICULARS		31.03.2012
PAT / Total Income	(%)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(521.28)
Return on Investment (ROI) (PBT/Networth)		1.96
Debt Equity Ratio (Total Debt/Networth)		(1.26)
Current Ratio (Current Asset/Current Liability)		3.13

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	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one years	Yes
12]	Profitability for last one 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	No
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

UNSECURED LOAN

Particulars	31.03.2012 (Rs. in Millions)
Loans repayable on demand Inter Corporate Loan	0.157
Total	0.157

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.54.24
UK Pound	1	Rs.84.30
Euro	1	Rs.71.36

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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		18

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