MIRA INFORM REPORT

Report Date :

20.05.2013

IDENTIFICATION DETAILS

Name :	MECHATRONICS DEVICES PRIVATE LIMITED (w.e.f 05.03.2011)
Formerly Known As :	LUMBINI EXIM PRIVATE LIMITED
Registered Office :	308, Sethi Bhawan, 7, Rajendra Place, Delhi - 110008
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	10.04.2001
Com. Reg. No.:	110364
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U29305DL2001PTC110364
TIN No.:	06591223916
PAN No.:	AAACL7713Q
IEC:	0513012231
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Transformers and Electrical Product.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 900
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively small company having a moderate track record. Its scale of activities is limited. The financial position of the company is weak and vulnerable due to huge external borrowings as compared to the net worth. However, trade relations are fair. Business is active. Payments terms are slow. The company can be considered for small business dealings 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 – 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.

LOCATIONS

Registered Office / Head Office :	308, Sethi Bhawan, 7, Rajendra Place, Delhi – 110008, India
Tel. No.:	Not Available
Mobile No.:	91-9810022789 (Mr. Girish Chander Narang)
Fax No.:	91-11-25785573/27419030
E-Mail :	Girish.narang@hotmail.com
Factory:	6/8A, Northern India Complex 20/3 Mathura Road Faridabad , Haryana, India

DIRECTORS

As on 29.09.2012

Name :

Mr. Girish Chander Narang

Designation :

Director

Address :

57 Gujrawala Town, Part 2, Delhi – 110009, India

Date of Birth/Age :

13.12.1955

Date of Appointment :

10.04.2001

DIN No.:

00217175

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	U51420DL1997PTC086834	KD ASSOCIATES PRIVATE LIMITED	Managing director	24/04/1997	24/04/1997	-	Active	NO
2	U29305DL2001PTC110364	MECHATRONICS DEVICES PRIVATE LIMITED	Director	10/04/2001	10/04/2001	-	Active	NO
3	U27106DL2003PTC120346	NUCON METALS PRIVATE LIMITED	Director	14/05/2003	14/05/2003	-	Active	NO

Name :

Mr. Pooja Narang

Designation :

Director

Address :

57 Gujrawala Town, Part 2, Delhi – 110009, India

Date of Birth/Age :

23.09.1957

Date of Appointment :

10.04.2001

DIN No.:

00217296

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	U51420DL1997PTC086834	KD ASSOCIATES PRIVATE LIMITED	Director	24/04/1997	24/04/1997	-	Active	NO
2	U29305DL2001PTC110364	MECHATRONICS DEVICES PRIVATE LIMITED	Director	10/04/2001	10/04/2001	-	Active	NO

Name :

Mr. Kanu Narang

Designation :

Director

Address :

57 Gujrawala Town, Part 2, Delhi – 110009, India

Date of Birth/Age :

07.06.1987

Date of Appointment :

24.12.2010

DIN No.:

03398317

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	U29305DL2001PTC110364	MECHATRONICS DEVICES PRIVATE LIMITED	Director	24/12/2010	24/12/2010	-	Active	NO
2	U27106DL2003PTC120346	NUCON METALS PRIVATE LIMITED	Additional director	12/11/2012	12/11/2012	-	Active	NO

Name :

Mr. Daman Chopra

Designation :

Director

Address :

1712, Sector – 16, Faridabad – 121002, Haryana, India

Date of Birth/Age :

19.12.1957

Date of Appointment :

08.12.2012

DIN No.:

00366515

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
1	U28910DL1982PTC014223	N.P. FORGING AND ENGINEERING COMPANY PRIVATE LIMITED	Director	23/10/1992	23/10/1992	-	Active
2	U27106DL2003PTC120346	NUCON METALS PRIVATE LIMITED	Director	14/05/2003	14/05/2003	-	Active
3	U27107DL2012PTC235211	MULTITECH METALLIC PRODUCTS PRIVATE LIMITED	Director	03/05/2012	03/05/2012	-	Active
4	U29305DL2001PTC110364	MECHATRONICS DEVICES PRIVATE LIMITED	Director	08/12/2012	08/12/2012	-	Active

Name :

Mr. Jatin Chopra

Designation :

Director

Address :

1712, Sector – 16, Faridabad – 121002, Haryana, India

Date of Birth/Age :

03.02.1992

Date of Appointment :

08.12.2012

DIN No.:

06430575

Name :

Mrs. Mansi Chopra

Designation :

Director

Address :

1712, Sector – 16, Faridabad – 121002, Haryana, India

Date of Birth/Age :

24.11.1967

Date of Appointment :

08.12.2012

DIN No.:

06430579

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
1	U27106DL2003PTC120346	NUCON METALS PRIVATE LIMITED	Additional director	12/11/2012	12/11/2012	-	Active
2	U29305DL2001PTC110364	MECHATRONICS DEVICES PRIVATE LIMITED	Director	08/12/2012	08/12/2012	-	Active

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Girish Chander Narang	5000
Pooja Narang	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Transformers and Electrical Product.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	IDBI Bank Limited, E-1, 1^st Floor, Videocon Tower, Jhandewalan, New Delhi – 110008, Delhi, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Ashok Joy and Associates Chartered Accountants
Address :	794, CA Apartments, Pashim Vihar, Delhi – 110063, India
PAN No.:	AANPG3924A

CAPITAL STRUCTURE

As on 29.09.2012

Authorised Capital : Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.5.000 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
60000	Equity Shares	Rs.10/- each	Rs.0.600 Million

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		0.129	0.106	0.097
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.229	0.206	0.197
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		7.259	0.000	0.000
TOTAL BORROWING		7.259	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.488	0.206	0.197
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.431	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.516	0.000	0.000
	Sundry Debtors	4.138	0.025	0.000
	Cash & Bank Balances	0.293	0.195	0.217
	Other Current Assets	0.292	0.011	0.000
	Loans & Advances	0.243	0.000	0.011
Total Current Assets		6.482	0.231	0.228
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.280	0.000	0.000
	Other Current Liabilities	0.030	0.020	0.000
	Provisions	0.115	0.005	0.031
Total Current Liabilities		0.425	0.025	0.031
Net Current Assets		6.057	0.206	0.197
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.488	0.206	0.197

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	5.366	0.025	0.230
		Other Income	0.000	0.000	0.000
		TOTAL (A)	5.366	0.025	0.230
Less	EXPENSES
		Cost of materials consumed	4.841	0.000
		Changes in inventories of finished goods	(0.499)	0.000
		Employee benefit expense	0.191	0.000
		Other expenses	0.671	0.011
		TOTAL (B)	5.204	0.011	0.150
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.162	0.014	0.080
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.162	0.014	0.0.80
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.127	0.000	0.000
	PROFIT BEFORE TAX (E-F) (G)		0.035	0.014	0.080
Less	TAX (H)		0.011	0.005	0.015
	PROFIT AFTER TAX (G-H) (I)		0.024	0.009	0.065
	Earnings Per Share (Rs.)		2.42	0.93	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.45	36.00	34.78
Net Profit Margin (PBT/Sales)	(%)	0.65	56.00	34.78
Return on Total Assets (PBT/Total Assets}	(%)	0.54	6.06	34.78
Return on Investment (ROI) (PBT/Networth)		0.15	0.07	0.41
Debt Equity Ratio (Total Debt /Networth)		31.70	0.00	0.00
Current Ratio (Current Asset/Current Liability)		15.25	9.24	7.35

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 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	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

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Loan from Director and Relatives	7.259	0.000
Total	7.259	0.000

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U29305DL2001PTC110364
Name of the company	MECHATRONICS DEVICES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	308, Sethi Bhawan, 7, Rajendra Place, Delhi – 110008, India Email: girish.narang@hotmail.com
This form is for	Creation of Charege
Type of charge	· Book Debts · Movable Property (Not being pledge) · Stock, Movable Plant and Machinery etc
CIN:	U29305DL2001PTC110364
Particular of charge holder	IDBI Bank Limited, E-1, 1^st Floor, Videocon Tower, Jhandewalan, New Delhi – 110008, India Email: gauri.sharma@idbi.co.in
Nature of instrument creating charge	Hypothecation Agreement
Date of instrument Creating the charge	30.03.2013
Amount secured by the charge	Rs.2.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per LOI Terms of Repayment Repayable on Demand Margin As per LOI Extent and Operation of the charge 100% Others 2THS
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of Present and Future Fixed Assets, Current assets including Stocks of Raw Materials, Semi finished and finished goods, consumable stores and spares and book debts. Hypothecation of Movable properties of the borrower including its movable plant and machinery, machinery spares, tools and accessories and raw materials, goods, book debts, vehicles and all other movable including receivables, documents of title to goods, outstanding monies, bills, invoice, documents, contracts etc both present and future.

FIXED ASSETS

· Computer

· Electric Equipment and Cables

· Hydronic Floor Crane

· Other Equipment

· Testing Equipment

· Weighting Scale

· Other Plant and Machinery

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.54.88
UK Pound	1	Rs.83.65
Euro	1	Rs.70.57

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
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	3
--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
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.