MIRA INFORM REPORT

Report Date :

14.05.2013

IDENTIFICATION DETAILS

Name :	DEIONERS SPECIALITY CHEMICALS PRIVATE LIMITED
Registered Office :	403, Gupta Tower, Azadpur Commercial Complex, Delhi – 110033
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	26.02.1992
Com. Reg. No.:	55-047772
Capital Investment / Paid-up Capital :	Rs.5.000 Millions
CIN No.: [Company Identification No.]	U74899DL1992PTC047772
Legal Form :	Private Limited Liability Company
Line of Business :	The Subject is engaged into Manufacturing and Trading of Water Treatment Chemicals, Speciality Chemicals and Water Treatment Plants and also Trading of Accessories for Water Treatment Plants, Testing Equipments and Testing of Industrial Samples and rendering services for operation of Cooling Tower and other Plants.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 58000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears some dip in the profitability during 2011-2012. However, general financial position is good. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for 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 – 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 DENIED

Management Non-Cooperative (91-11-47003700)

LOCATIONS

Registered Office :	403, Gupta Tower, Azadpur Commercial Complex, Delhi – 110033, India
Tel. No.:	91-11-47003700
Fax No.:	91-11-27672014
E-Mail :	accounts@cleanfloindia.com cleanflo@cleanfloindia.com
Website :	http://www.cleanflo.com

DIRECTORS

As on: 18.09.2012

Name :

Mr. Kumar Sanjay Sharma

Designation :

Managing Director

Address :

108, Packet -8, Sector-8, Rohini, Delhi – 110085, India

Date of Birth/Age :

24.01.1956

Date of Appointment :

26.02.1992

Voter ID No.:

DL/03/020/021009

DIN No.:

00360362

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	U74899DL1992PTC047772	DEIONERS SPECIALITY CHEMICALS PRIVATE LIMITED	Managing director	26/02/1992	26/02/1992	-	Active	NO
2	U24100DL2011PTC216918	SVRS AQUA ENGINEERS PRIVATE LIMITED	Director	04/04/2011	04/04/2011	-	Active	NO

Name :

Mr. Vipin Kandhari

Designation :

Director

Address :

LD-103, Towe Apartment, Pitampura, Delhi – 110034, India

Date of Birth/Age :

26.09.1961

Date of Appointment :

26.02.1992

Voter ID No.:

DL/03/019/186033

DIN No.:

00356754

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	U74899DL1992PTC047772	DEIONERS SPECIALITY CHEMICALS PRIVATE LIMITED	Director	26/02/1992	26/02/1992	-	Active	NO
2	U24100DL2011PTC216918	SVRS AQUA ENGINEERS PRIVATE LIMITED	Director	04/04/2011	04/04/2011	-	Active	NO

Name :

Mr. Rahul Sharma

Designation :

Director

Address :

206, White House Apartment, ESIC, Friends Co-Operative Housing Society, Sector -13, Rohini, Delhi – 110085, India

Date of Birth/Age :

29.12.1964

Date of Appointment :

26.02.1992

Voter ID No.:

DL/03/020/021106

DIN No.:

02167228

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	U74899DL1992PTC047772	DEIONERS SPECIALITY CHEMICALS PRIVATE LIMITED	Director	26/02/1992	26/02/1992	-	Active	NO
2	U24100DL2011PTC216918	SVRS AQUA ENGINEERS PRIVATE LIMITED	Director	04/04/2011	04/04/2011	-	Active	NO

Name :

Ms. Seema Kandhari

Designation :

Director

Address :

AD-68/D, Shalimar Bagh, Delhi – 110052, India

Date of Birth/Age :

23.12.1965

Date of Appointment :

23.01.2002

Voter ID No.:

DL/03/020/021106

DIN No.:

00297353

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	U74899DL1992PTC047772	DEIONERS SPECIALITY CHEMICALS PRIVATE LIMITED	Director	23/01/2002	23/01/2002	-	Active	NO
2	U24100DL2011PTC216918	SVRS AQUA ENGINEERS PRIVATE LIMITED	Director	04/04/2011	04/04/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 18.09.2012

Names of Shareholders	No. of Shares
Kumar Sanjay Sharma	7075
Vipin Kandhari	5425
Rahul Sharma	3590
Seema Kandhari	10285
Aman Kandhari	240
Tapasya Kandhari	130
Angad Kandhari	250
Shweta Sharma	2240
Shikhar Sharma	1500
Kamal Kandhari (HUF)	700
Kumar Sanjay Sharma (HUF)	470
Rahul Sharma (HUF)	150
Vipin Kandhari (HUF)	360
Shobha Sharma	6145
Bimla Kandhari	6630
Vandana Sharma	4290
Urmila Sharma	10
Kunti Devi Kandhari	10
Hema Arneja	250
Neha Arneja	250
Total	50000

Equity Share Break up (Percentage of Total Equity)

As on: 18.09.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Subject is engaged into Manufacturing and Trading of Water Treatment Chemicals, Speciality Chemicals and Water Treatment Plants and also Trading of Accessories for Water Treatment Plants, Testing Equipments and Testing of Industrial Samples and rendering services for operation of Cooling Tower and other Plants.

PRODUCTION STATUS (As on: 31.03.2012)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Water Treatment Chemicals	Kgs	NA	NA	1276150

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

• Oriental Bank of Commerce, Azadpur, New Delhi - 110033, India
• ICICI Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Oriental Bank of Commerce	0.016
ICICI Bank (Vehicle)	0.000	0.230
Working Capital Loans from Bank	2.901	1.936
Cash Credit facilities	0.000	0.130
Total	2.917	2.296

Banking Relations :	--
Auditors :
Name :	Bansal Dalmia and Company Chartered Accountants
Address :	210, Gupta Tower, Azadpur Commercial Complex, Delhi – 110033, India
PAN No.:	AAAFB4854D
Related Parties :	SVRS Aqua Engineers Private Limited Nucon Industrial Vision

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 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		5.000	5.000	5.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		9.617	7.771	5.360
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		14.617	12.771	10.360
LOAN FUNDS
1] Secured Loans		2.917	2.296	2.391
2] Unsecured Loans		9.616	6.957	6.250
TOTAL BORROWING		12.533	9.253	8.641
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		27.150	22.024	19.001
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.852	8.132	7.863
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.854	0.699	0.686
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.431	7.839	5.174
	Sundry Debtors	30.608	28.467	26.923
	Cash & Bank Balances	0.607	1.366	2.233
	Other Current Assets	2.064	1.696	0.010
	Loans & Advances	9.016	5.848	6.666
Total Current Assets		48.726	45.216	41.006
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	18.234	20.557	18.340
	Other Current Liabilities	7.558	7.596	8.461
	Provisions	4.490	3.870	3.753
Total Current Liabilities		30.282	32.023	30.554
Net Current Assets		18.444	13.193	10.452
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		27.150	22.024	19.001

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	TURNOVER		102.301	101.350	102.707
Less	TOTAL EXPENSES		NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		3.743	4.294	4.209
Less/ Add	DEPRECIATION/ AMORTISATION		0.815	0.760	0.678
	PROFIT BEFORE TAX		2.928	3.534	3.531
Less	TAX		1.082	1.122	1.474
	PROFIT AFTER TAX		1.846	2.412	2.057
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.499	0.263	0.707
	TOTAL EARNINGS		0.499	0.263	0.707
	Earnings Per Share (Rs.)		36.92	48.24	41.14

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	5.18	6.62	7.22
Return on Investment (ROI) (PBT/Networth)		0.20	0.28	0.34
Debt Equity Ratio (Total Debt/Networth)		0.86	0.72	0.83
Current Ratio (Current Asset/Current Liability)		1.61	1.41	1.34

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 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	Yes
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	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	Yes
34]	External Agency Rating, if available	No

UNSECURED LOAN

(Rs. In Millions)

Particular	As on 31.03.2012	As on 31.03.2011
Loan from Shareholders	9.594	6.957
Short Term Loans from Bank	0.022	0.000
Total	9.616	6.957

CONTINGENT LIABILITIES

(Rs. In Millions)

Particular	31.03.2012	31.03.2011
Outstanding guarantee and counter guarantee to various banks in respect of the guarantee given by those banks in favour of various government authority and others and stand by Letter of Credit	2.896	5.141

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U74899DL1992PTC047772
Name of the company	DEIONERS SPECIALITY CHEMICALS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	403, Gupta Tower, Azadpur Commercial Complex, Delhi – 110033, India E-mail: accounts@cleanfloindia.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80019306
Type of charge	Immovable property Book debts Others (Hypothecation of Stocks.)
Particular of charge holder	Oriental Bank of Commerce, Azadpur, New Delhi - 110033, India E-mail: ngaoffice@gmail.com
Nature of instrument creating charge	Loan Doc - 13 being Supplemental Agreement to Secure Credit Facilities dated 04.06.2012.
Date of instrument Creating the charge	04.06.2012
Amount secured by the charge	Rs.12.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest At 13.50% P.A. calculated on the daily balance and charged on monthly rests. And Penal Interest @ 2% P.A. over and above the normal rate of interest in case of any defaults. Terms of Repayment On Demand. Margin 25% Extent and Operation of the charge Full i.e. 100%
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of Raw Material, Stock in Process and Finished Stock of water treatment chemicals and Plants etc for water softening and receivables. Counter guarantee of the company and third party cheques/drafts. Negative Lien on the Property No. 401, Gupta Tower, B-1/1, Nainwala Bagh, Azadpur Complex, G.T. Road, Delhi - 110033. Hypothecation of all present and future fixed and current assets of the company.
Date of instrument modifying the charge	07.03.2011
Particulars of the present modification	Credit Facilities availed by the Deioners Speciality Chemicals Private Limited increased by Rs.2.500 Millions from Rs.9.500 Millions to Rs.12.000 Millions. Bifurcation given below:- Cash Credit Rs.5.500 Millions (Enchanced by Rs.2.500 Millions) Bill Purchase Rs.1.000 Millions (Existing) Bank Guarantee Rs.5.500 Millions (Existing)

FIXED ASSETS

Tangible Assets

• Air Conditioner
• Computers
• Furniture and Fixture
• Generators
• Office Equipment
• Office Flat
• Plant and Machinery
• Vehicles

Intangible Assets

• Computer Software

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.54.92
UK Pound	1	Rs.84.44
Euro	1	Rs.71.32

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.