MIRA INFORM REPORT

PRELIMINARY REPORT

Report Date :

13.11.2013

IDENTIFICATION DETAILS

Name :	BLACK JACK INDIA LIMITED
Registered Office :	D-63, South City-I, Gurgaon – 122002, Haryana
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	15.07.1985
Com. Reg. No.:	16-040712
Capital Investment / Paid-up Capital :	Rs.42.262 Millions
CIN No.: [Company Identification No.]	U51909HR1985PLC040712
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Exporter, Manufacturer and Supplier of spanners, vices, pincers, wrench, automotive tools, automotive tubular box spanners, automotive tools, etc.
No. of Employees :	Not Available

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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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 :	D-63, South City-I, Gurgaon – 122002, Haryana, India
Tel. No.:	91-124-4269766
Mobile No.:	91-9811630303 (Mr. Rajat)
Fax No.:	91-124-4269766
E-Mail :	vakil.cs@gmail.com info@blackjacktools.com bjtools@vsnl.com
Website :	http://www.blackjacktools.com
Head Office :	Post Box No.508, C-4, Focal Point, Jalandar – 144004, India
Tel. No.:	91-181-2601892
Fax No.:	91-181-2602562

DIRECTORS

As on 29.09.2011

Name :

Mr. Gautam Kapoor

Designation :

Director

Address :

520, Park Road, Model Town, Jalandhar – 144003, Punjab, India

Date of Birth/Age :

22.08.1954

Date of Appointment :

16.01.1989

DIN No.:

00204909

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U92490PB1981PTC004622	SHOW BUSINESS PRIVATE LIMITED	Director	28/07/1981	28/07/1981	-	Active	NO
2	U51909HR1985PLC040712	BLACK JACK INDIA LIMITED	Director	16/01/1989	16/01/1989	-	Active	NO
3	U29305PB1981PTC004448	NAVAL PRIVATE LIMITED	Director	12/06/1991	12/06/1991	-	Active	NO
4	U55101HR1996PLC041292	GRAND WINDSOR RESORTS LIMITED	Managing director	3/12/1996	3/12/1996	-	Active	NO
5	U28932PB1988PTC007952	KANISHKA INDIA PRIVATE LIMITED	Director	1/04/1997	1/04/1997	-	Active	NO
6	U51311DL2002PTC116315	SARTEX GLOBAL PRIVATE LIMITED	Director	26/03/2006	24/07/2002	-	Strike off	NO
7	U33112HR2002PTC041293	RICHARD GOTEX PRIVATE LIMITED	Managing director	22/08/2006	24/07/2002	-	Active	NO
8	U74899DL1988PTC033656	SUSHANU INVESTMENTS PRIVATE LIMITED	Director	25/06/2004	25/06/2004	-	Active	NO
9	U70102PB2006PTC030644	GRAND WINDSOR HOMES AND APARTMENTS PRIVATE LIMITED	Director	10/10/2006	10/10/2006	-	Active	NO
10	U73100PB2010NPL034056	INDIAN TOOLS TECHNOLOGY CENTRE	Director	1/11/2010	1/11/2010	-	Active	NO

Name :

Ms. Sabina Kapoor

Designation :

Managing director

Address :

520, Park Road, Model Town, Jalandhar – 144003, Punjab, India

Date of Birth/Age :

21.05.1960

Date of Appointment :

15.07.1985

DIN No.:

00204848

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U92490PB1981PTC004622	SHOW BUSINESS PRIVATE LIMITED	Director	10/08/1981	10/08/1981	-	Active	NO
2	U51909HR1985PLC040712	BLACK JACK INDIA LIMITED	Managing director	15/07/1985	15/07/1985	-	Active	NO
3	U55101HR1996PLC041292	GRAND WINDSOR RESORTS LIMITED	Whole-time director	1/04/2008	3/12/1996	-	Active	NO
4	U74899DL1988PTC033656	SUSHANU INVESTMENTS PRIVATE LIMITED	Director	25/06/2004	25/06/2004	22/02/2011	Active	NO
5	U70102PB2006PTC030644	GRAND WINDSOR HOMES AND APARTMENTS PRIVATE LIMITED	Managing director	10/10/2006	10/10/2006	-	Active	NO
6	U33112HR2002PTC041293	RICHARD GOTEX PRIVATE LIMITED	Director	16/09/2008	15/09/2007	-	Active	NO

Name :

Mr. Ashwani Behal Kumar

Designation :

Director

Address :

BX 11/228, Vasant Vihar, Kapurthala – 14461, Punjab, India

Date of Birth/Age :

07.08.1944

Date of Appointment :

17.04.2003

DIN No.:

00210441

Name :

Ms. Divya Sardana

Designation :

Director

Address :

520, Park Road, Model Town, Jalandhar – 144003, Punjab, India

Date of Birth/Age :

23.02.1982

Date of Appointment :

07.12.2000

DIN No.:

00204807

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U51909HR1985PLC040712	BLACK JACK INDIA LIMITED	Director	7/12/2000	7/12/2000	-	Active	NO
2	U55101HR1996PLC041292	GRAND WINDSOR RESORTS LIMITED	Director	16/09/2008	1/12/2007	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Gautam Kapoor	1139600
Sabina Kapoor	1566400
Urmila Devi Kapoor	44000
Gautam Kapoor HUF	1344200
Divya Kapoor	132000
Total	4226200

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2011

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

BUSINESS DETAILS

Line of Business :

Exporter, Manufacturer and Supplier of spanners, vices, pincers, wrench, automotive tools, automotive tubular box spanners, automotive tools, etc.

Products :

PRODUCT DESCRIPTION	ITC CODE NO
Hand Tools	8201
Brass Hardware	7419
Leather Goods	4201

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Oriental Bank of Commerce, Overseas Branch, Garha Road, Jalandhar- 144001, Punjab, India
• Punjab National Bank
• State Bank of India
• Bank of Baroda
• Bank of India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Oriental Bank of Commerce – FDBP (Secured against foreign Bills for Collection)	26.215	14.930
From Oriental Bank of Commerce – PCL (Secured against hypothecation of stocks)	19.003	4.470
Total	45.218	19.400
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Shareholders/ Directors Urmila Devi Kapoor	0.016	0.016
Total	0.016	0.016

Banking Relations :	--
Auditors :
Name :	S. K. Vatta and Company Chartered Accountants
Address :	First Floor, Khanna Building, Milap Chowk, Jalandhar – 144001, Punjab, India
PAN.:	AAWPV0180G

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4226200	Equity Shares	Rs.10/- each	Rs.42.262 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		42.262	42.262	42.262
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		88.164	84.589	92.948
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		130.426	126.851	135.210
LOAN FUNDS
1] Secured Loans		45.218	19.400	11.761
2] Unsecured Loans		0.016	0.016	0.016
TOTAL BORROWING		45.234	19.416	11.777
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		175.660	146.267	146.987
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		41.051	37.981	35.957
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		54.950	55.259	57.294
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	16.315	8.494	8.061
	Sundry Debtors	45.529	20.368	19.330
	Cash & Bank Balances	7.628	4.591	14.457
	Other Current Assets	4.790	4.659	1.095
	Loans & Advances	36.322	35.804	33.114
Total Current Assets		110.584	73.916	76.057
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	20.489	12.968	12.753
	Other Current Liabilities	10.436	7.921	9.538
	Provisions	0.000	0.000	0.030
Total Current Liabilities		30.925	20.889	22.321
Net Current Assets		79.659	53.027	53.736
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		175.660	146.267	146.987

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	165.596	106.238	173.465
		Other Income	22.100	19.230	22.749
		TOTAL (A)	187.696	125.468	196.214
Less	EXPENSES
		Cost of Sales	129.520	84.877	133.616
		Administrative Expenses	8.810	8.543	8.283
		Selling and Distribution Expenses	37.372	22.592	41.133
		Repair and Maintenance Expenses	1.074	0.795	0.828
		Net Operational expenses of branch	0.555	0.371	0.803
		Profit on Shares	(0.032)	0.000	(0.092)
		Loss on sale of equities/shares (Long term)	0.000	0.118	0.000
		TOTAL (B)	177.299	117.296	184.571
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		10.397	8.172	11.643
Less	FINANCIAL EXPENSES (D)		3.962	2.212	3.994
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6.435	5.960	7.649
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.999	0.683	0.680
	PROFIT BEFORE TAX (E-F) (G)		5.436	5.277	6.969
Less	TAX (H)		1.900	NA	NA
	PROFIT AFTER TAX (G-H) (I)		3.536	NA	NA
	Earnings Per Share (Rs.)		1.29	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.88	NA	NA
Net Profit Margin (PBT/Sales)	(%)	3.28	4.97	4.01
Return on Total Assets (PBT/Total Assets}	(%)	3.58	4.71	6.22
Return on Investment (ROI) (PBT/Networth)		0.04	0.04	0.05
Debt Equity Ratio (Total Liability/Networth)		0.58	0.32	0.25
Current Ratio (Current Asset/Current Liability)		3.57	3.54	3.41

LOCAL AGENCY FURTHER INFORMATION

Note: The registered address of the company C 7, Focal Point, Jalandhar – 144004, Punjab, India has been shifted to the present address w.e.f. 10.06.2010

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	--
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	--
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

PERFORMANCE OF THE COMPANY

The Directors of the Company report that performance of the Company during the financial year ended on 31st day of March, 2011 was quiet satisfactory both quantitavely and qualitatively. The sales of the Company has increased to Rs.165.596 Millions during the current financial year as compared to Rs.106.238 Millions in the previous year. The Company has reported The Company has reported a net profit of Rs.5.436 Millions during the Current financial year, as compared to Rs.5.277 Millions in the previous year.

Bankers Charges Report as per Registry

Corporate identity number of the company	U51909HR1985PLC040712
Name of the company	BLACK JACK INDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	D-63, South City-I, Gurgaon – 122002, Haryana, India Email : vakil.cs@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80009757
Type of charge	Immovable Property Corporate Guarantee
Particular of charge holder	Oriental Bank of Commerce, Overseas Branch, Garha Road, Jalandhar- 144001, Punjab, India Email : bm0886@obc.co.in
Nature of instrument creating charge	Guarantee Agreement dated 26.09.2011
Date of instrument Creating the charge	26.09.2011
Amount secured by the charge	Rs.295.400 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per agreement Terms of Repayment As per agreement Margin As per agreement Extent and Operation of the charge 100%
Short particulars of the property or asset(s) charged (including complete address and location of the property)	EM of land measuring 2809.94 sq yard situated at BMC Chowk, GT Road, Jalandhar, Punjab, India
Particulars of the present modification	bank guarantee enhanced to 295.400 Millions rest of the terms remain same

FIXED ASSETS

• Land
• Plant and Machinery
• Furniture and Fittings
• Vehicles
• Office Equipments
• Computer and Softwares

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.63.59
UK Pound	1	Rs.101.56
Euro	1	Rs.85.15

INFORMATION DETAILS

Report Prepared by :

KVT

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.