MIRA INFORM REPORT

Report Date :

17.05.2013

IDENTIFICATION DETAILS

Name :	AGH ALTECH PRIVATE LIMITED (w.e.f. 23.07.2010)

Formerly Known As :	AGH HOSPITALITIES AND ENTERTAINMENT PRIVATE LIMITED

Registered Office :	K-25, Fateh Nagar, Tilak Nagar, New Delhi – 110018

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	28.12.2007

Com. Reg. No.:	55-171988

Capital Investment / Paid-up Capital :	Rs. 0.100 Million

CIN No.: [Company Identification No.]	U27310DL2007PTC171988

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturing of Aluminum Extruded Multi Void Tubes for automobile and HVAC Air-conditioner Heat Exchangers.

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 :	Yet to commence its commercial activity

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Even though the company was incorporate in the year 2007, it is yet to commence its commercial activity as per the dated 31^st March 2012. The contacted person has denied to disclose any information about the company. No other details could be made available. Payment terms 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

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 (91-9999824090)

LOCATIONS

Registered Office :	K-25, Fateh Nagar, Tilak Nagar, New Delhi – 110018, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	sonalimanchandaa@gmail.com mca@gskassociates.com info@aghaltech.com

Factory :	Plot No. 16, Sector No. 16, HSIIDC, Industrial Estate, Bahadurgarh - 124507, Haryana, India.

DIRECTORS

As on 29.09.2012

Name :

Mr. Gurvinder Pal Singh

Designation :

Managing Director

Address :

K-25, Fateh Nagar, Tilak Nagar, New Delhi – 110018, India

Date of Birth/Age :

15.02.1963

Date of Appointment :

01.11.2011

DIN No.:

00283553

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	U74899DL1992PTC050416	Zamil Air Conditioners India Private Limited	Director	31/10/2011	24/09/1992	-	Active	NO
2	U34300DL1999PTC099118	LOKSHEEL INTERNATIONAL PRIVATE LIMITED	Director	12/06/2002	12/06/2002	-	Active	NO
3	U18204PB2007PTC036682	WOW HOME SOLUTIONS PRIVATE LIMITED	Director	24/05/2007	24/05/2007	20/11/2012	Active	NO
4	U31908DL2007PTC168693	ANUSHKA AIR CONDITIONING PRIVATE LIMITED	Director	26/09/2007	26/09/2007	30/01/2008	Active	NO
5	U27310DL2007PTC171988	AGH Altech Private Limited	Managing director	01/11/2011	28/12/2007	-	Active	NO
6	U55101DL2008PTC183655	TGS HOSPITALITIES PRIVATE LIMITED	Director	24/09/2008	24/09/2008	31/03/2013	Active	NO
7	U28910DL2011PTC222577	AGH WIRES PRIVATE LIMITED	Managing director	22/02/2012	20/07/2011	-	Active	NO

Name :

Mrs. Amarjeet Kaur Sehgal

Designation :

Director

Address :

K-25, Fateh Nagar, Tilak Nagar, New Delhi – 110018, India

Date of Birth/Age :

05.07.1964

Date of Appointment :

28.12.2007

DIN No.:

00330102

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	U74899DL1992PTC050416	Zamil Air Conditioners India Private Limited	Director	24/09/1992	24/09/1992	15/11/2011	Active	NO
2	U34300DL1999PTC099118	LOKSHEEL INTERNATIONAL PRIVATE LIMITED	Director	22/06/2006	22/06/2006	-	Active	NO
3	U18204PB2007PTC036682	WOW HOME SOLUTIONS PRIVATE LIMITED	Director	24/05/2007	24/05/2007	19/07/2012	Active	NO
4	U27310DL2007PTC171988	AGH Altech Private Limited	Director	28/12/2007	28/12/2007	-	Active	NO
5	U28910DL2011PTC222577	AGH WIRES PRIVATE LIMITED	Director	20/07/2011	20/07/2011	-	Active	NO

Name :

Mr. Lajpat Rai Sikka

Designation :

Nominee Director

Address :

38/75, Pinjabi Bagh (West), New Delhi – 110026, Indiass

Date of Birth/Age :

15.12.1955

Date of Appointment :

04.08.2010

DIN No.:

00197722

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	U18101DL1997PTC086064	SIKKA GARMENTS PRIVATE LIMITED	Director	25/03/1997	25/03/1997	-	Active	NO
2	U27310DL2007PTC171988	AGH Altech Private Limited	Nominee director	04/08/2010	04/08/2010	-	Active	NO
3	U17212DL2007PTC161293	AKHIL APPARELS AND TEXTILES PRIVATE LIMITED	Director	15/11/2011	15/11/2011	-	Active	NO

MAJOR SHAREHOLDERS

As on 29.09.2012

Names of Shareholders	No. of Shares	Percentage of Holding
Gurvinder Pal Singh	2900	29.00%
Amarjeet Kaur Sehgal	1500	15.00%
Sikka Garments Private Limited, India	5100	51.00%
Harpreet Singh Sehgal	500	5.00%
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Bodies corporate	51.00
Directors or relatives of Directors	49.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Aluminum Extruded Multi Void Tubes for automobile and HVAC Air-conditioner Heat Exchangers.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

State Bank of India, Industrial Complex, Bahadurgarh – 124507, Haryana, India
ICICI Bank Limited

Facilities :

Secured Loan

31.03.2012

(Rs. In Millions)

31.03.2011

(Rs. In Millions)

Term Loan :

From Bank

Rupee Loan

Foreign Currency Loan

33.281

20.914

0.000

Loan Repayable on Demand

Rupee Loan

Foreign Currency Loan

0.000

7.034

0.945

0.000

Total

61.229

0.945

Term Loan referred above to the extent of :

a) Rupee Loan Rs. 53.171 Millions (Previous Year Rs. NIL) from State Bank of India is primarily secured by first charges on entire fixed assets of the Company including equitable mortgage of Factory Land and Building at Plot No. 16, Sector 16, Industrial Estate, Bahadurgarh and Personal Guarantee of Promoter/Directors Mr. Gurvinder Pal Singh and Mrs. Amarjeet Kaur Sehgal.

b) Rupee Loan Rs. 1.583 Millions (Previous Year Rs. NIL) from ICICI Bank secured by Hypothetication of respective Vehicles.


Banking Relations :	-

Auditors :
Name :	GSK and Associates Chartered Accountants
Address :	8, 1^st Floor, Jhansi Road, Motia Khan Industrial Area, New Delhi – 110055, India
PAN No.:	AADFG5824B

CAPITAL STRUCTURE

As on 29.09.2012

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	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.055	0.000	0.000
4] (Accumulated Losses)		0.000	(0.028)	(0.028)
NETWORTH		0.155	0.072	0.072
LOAN FUNDS
1] Secured Loans		61.229	0.945	0.000
2] Unsecured Loans		131.380	48.814	0.000
TOTAL BORROWING		192.609	49.759	0.000
DEFERRED TAX LIABILITIES		0.069	0.000	0.000

TOTAL		192.833	49.831	0.072

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		14.643	11.532	0.000
Capital work-in-progress		148.136	23.690	0.000

INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.413	0.000	0.000
	Sundry Debtors	0.961	0.000	0.000
	Cash & Bank Balances	20.093	0.081	0.067
	Other Current Assets	3.512	0.009	0.000
	Loans & Advances	9.774	16.164	0.000
Total Current Assets		38.753	16.245	0.067
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.242	0.181
	Other Current Liabilities	7.378	1.464
	Provisions	0.079	0.000
Total Current Liabilities		8.699	1.645	0.004
Net Current Assets		30.054	14.609	0.063

MISCELLANEOUS EXPENSES		0.000	0.000	0.009

TOTAL		192.833	49.831	0.072

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011	31.03.2010

	SALES	0.000	0.000

	EXPENDITURE
	Administrative and other expenses	0.000	0.009

	PROFIT/LOSS BEFORE TAX	0.000	(0.009)

LESS	PROVOSION FOR TAX	0.000	0.000

	PROFIT/LOSS AFTER TAX	0.000	(0.009)

	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	(0.028)	(0.019)

	BALANCE CARRIED TO THE B/S	(0.028)	(0.028)

	Earning Per Share	0.00	(0.9)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PBT/Sales)	(%)	NA	0.00	0.00

Return on Total Assets (PBT/Total Assets}	(%)	NA	0.00	(0.13

Return on Investment (ROI) (PBT/Networth)		NA	0.00	(0.13)

Debt Equity Ratio (Total Debt /Networth)		1242.64	161.10	0.00

Current Ratio (Current Asset/Current Liability)		4.45	9.87	16.17

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	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	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	No
34]	External Agency Rating, if available	No

UNSECURED LOAN:

Secured Loan

31.03.2012

(Rs. In Millions)

31.03.2011

(Rs. In Millions)

Loans & Advances From Related Parties

131.380

48.814

OPERATIONS:

The Company has not started any business till the end of the year 31.03.2012. Therefore, there is no material business transaction during the period.

FIXED ASSTES:

Land at HSIIDC
Car
Computer Hardware
Software
Plant and Machinery
Electrical Equipments
Electrical Fittings and installations
Furniture and Fixtures
Office Equipments
Building

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 records 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. 54.77
UK Pound	1	Rs. 83.31
Euro	1	Rs. 70.46

INFORMATION DETAILS

Information Gathered by :	SVA

Report Prepared by :	VNT

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	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
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

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.

MIRA INFORM REPORT

4.413

0.961

20.093

3.512

9.774

38.753

1.242

7.378

0.079

8.699

30.054

NA

NA

NA

1242.64

4.45

Unit