MIRA INFORM REPORT

Report Date :

23.05.2013

IDENTIFICATION DETAILS

Name :	EVEREST EQUIPMENTS PRIVATE LIMITED
Registered Office :	Onkar Market 161, Rabindra Sarani, Room No. 106, 1^st Floor, Kolkata – 700007, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	16.05.2011
Com. Reg. No.:	21-162612
Capital Investment / Paid-up Capital :	Rs. 5.800 Millions
CIN No.: [Company Identification No.]	U29253WB2011PTC162612
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Supplier of Construction Equipments.
No. of Employees :	50 (Approximately) (In Office 10) (In Factory 40)

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 21000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively new company and commenced activities recently. The company has incurred some initial losses and has good amount of accumulated losses. However, trade relations are reported to be fair. Payments are reported to be slow at time but correct. The company can be considered for business dealings with slight caution initially.

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

Name :	Mr. Saurav Tater
Designation :	Director
Contact No.:	91-9903153066
Date :	17.05.2013

LOCATIONS

Registered Office :	Onkar Market 161, Rabindra Sarani, Room No. 106, 1^st Floor, Kolkata – 700007, West Bengal
Tel. No.:	Not Available
Mobile No.:	91-9903153066 (Mr. Saurav Tater)
Fax No.:	Not Available
E-Mail :	epl@gmail.com tatertopall@gmail.com
Website :	www.everestconstructionequipments.com
Location :	Owned
Marketing Office :	Suit No. 203, South Block, 6 Waterloo Street, Kolkata – 700069, West Bengal, India
Tel. No.:	91-33-22622409/22624902

DIRECTORS

As on 29.09.2012

Name :

Mr. Bachhraj Tater

Designation :

Director

Address :

27/1A, Harish Mukharjee Road, Flat No. 2C, 2^nd Floor, Kolkata – 700025, West Bengal, India

Date of Birth/Age :

04.05.1949

Qualification :

B.E. Civil Engineering

Date of Appointment :

16.05.2011

DIN No.:

03449802

Name :

Mr. Saurav Tater

Designation :

Director

Address :

27/1A, Harish Mukharjee Road, Flat No. 2C, 2^nd Floor, Kolkata - 700025, West Bengal, India

Date of Birth/Age :

02.12.1979

Qualification :

Chartered Accountant

Date of Appointment :

16.05.2011

DIN No.:

03449812

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	U29253WB2011PTC162612	EVEREST EQUIPMENTS PRIVATE LIMITED	Director	16/05/2011	16/05/2011	-	Active	NO
2	U72501WB2011PTC160004	GREAT EASTERN INFOTECH PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
3	U45201WB2002PTC095149	SALASAR NIRMAAN SEVA PRIVATE LIMITED	Additional director	27/01/2012	27/01/2012	-	Active	NO

MAJOR SHAREHOLDERS

As on 29.09.2012

Names of Shareholders	No. of Shares	Percentage of Holding
Saurav Tater	575000	99.14
Bachhraj Tater	5000	0.86
Total	580000	100.00

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, Exporter and Supplier of Construction Equipments.

Products :

Product Description	ITC Code
Equipments	124 and 204

Concrete Processing Range

· Mini Mobile Batching Machine

• Reverse Drum Concrete Mixer

· Concrete Mixer

· Batching Plant

· Tilting Drum Concrete Mixer

· Hoist Mixer

Processing Range

· Bar Bender

· Bar Re-coiling

· Bar Cutter

· Bar Straitening

Material Handling Range

· Builder’s Hoist

· Site Dumper

Shuttering and Scaffolding

· Adjustable Telescopic Spans

· Adjustable Telescopic Props

· Fixed Base Plate

· Adjustable U Jack

· Adjustable Base Plate

· Clamps and Couplers

Construction Laboratory Equipment Range

· Compression Testing Machine

· Slump Test Apparatus

· Cube Moulds

Demolition Range

· Concrete Cutter

· Breaker Hammer

Exports :

Products :

Construction Equipment

Countries :

· Gulf Countries

· Bhutan

· Bangladesh

Imports :

Products :

Raw Material

Countries :

China

Terms :

Selling :

L/C / Cash / Credit

Purchasing :

L/C / Cash / Credit

GENERAL INFORMATION

Suppliers :
Customers :	Contractor, Builder and Dealer
No. of Employees :	50 (Approximately) (In Office 10) (In Factory 40)
Bankers :	Standard Chartered Bank, Kolkata, West Bengal, India
Facilities :	-

Banking Relations :	-
Auditors :
Name :	Mahato Prabir and Associates Chartered Accountant
Address :	16/2G/1B, Dover Tarrace, Kolkata – 700019, West Bengal, India
PAN No.:	AGZPM8354Q
Sister Concern :	Topall International, Kolkata, West Bengal, India

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
580000	Equity Shares	Rs.10/- each	Rs. 5.800 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012
SHAREHOLDERS FUNDS
1] Share Capital		5.800
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.531)
NETWORTH		5.269
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		4.627
TOTAL BORROWING		4.627
DEFERRED TAX LIABILITIES		0.000
TOTAL		9.896
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.967
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.930
	Sundry Debtors	0.000
	Cash & Bank Balances	0.528
	Other Current Assets	0.000
	Loans & Advances	0.357
Total Current Assets		1.815
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.095
	Other Current Liabilities	0.218
	Provisions	0.000
Total Current Liabilities		0.313
Net Current Assets		1.502
MISCELLANEOUS EXPENSES		0.427
TOTAL		9.896

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2012
	TURNONER/INCOME	2.160
Less	TOTAL EXPENSES	2.691
	PROFIT/LOSS BEFORE TAX	(0.531)
Less	TAX	NA
	PROFIT/LOSS AFTER TAX	(0.531)
	Earnings Per Share (Rs.)	(0.92)

Particulars	31.03.2013
Sales Turnover (Approximately)	250.000

Expected Sale (2013-2014) : Rs. 40.000 Millions.

Note:

As per Mr. Saurav Tater -Marketing Director of the company, the business established in the year 2006 but business activity started from the year 2011. So, sales turnover will be start from 2012-2013.

KEY RATIOS

PARTICULARS		31.03.2012
PAT / Total Income	(%)	(54.58)
Return on Total Assets (PBT/Total Assets}	(%)	(5.43)
Return on Investment (ROI) (PBT/Networth)		(0.10)
Debt Equity Ratio (Total Debt /Networth)		0.88
Current Ratio (Current Asset/Current Liability)		5.80

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last year	Yes
13]	Reasons for variation <> 20%	-----------------
14]	Estimation for coming financial year	Yes
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	Yes
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 LOANS:

Particulars	31.03.2012 Rs. In Millions
Unsecured Loan	4.627
Total	4.627

FIXED ASSETS:

· Plant and Machinery

· Cycle

· Electrical Equipments

· Electrical Goods

· Factory Shed

· Furniture and Fixture

· Land and Building

· Printer

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 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. 55.52
UK Pound	1	Rs. 84.09
Euro	1	Rs. 71.67

INFORMATION DETAILS

Information Gathered by :	HTL
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	-
--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	YES
--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.