MIRA INFORM REPORT

Report Date :

03.10.2013

IDENTIFICATION DETAILS

Name :	ENNOV INFRA SOLUTIONS PRIVATE LIMITED [w.e.f. 08.10.2008]
Formerly Known As :	ENNOV TELECOM PRIVATE LIMITED
Registered Office :	297, Basement Gurunanak Auto Market, Kashmere Gate, New Delhi-110006
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.02.2008
Com. Reg. No.:	55-174054
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U32107DL2008PTC174054
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Earthing Electrode, Earthing Backfill Compound, Surge Protection Device, etc.
No. of Employees :	20 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (38)

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

Maximum Credit Limit :	USD 1500
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. Management has failed to file the financial data with the government department after 2011. However, trade relations are reported as fair. Business is active. Payments are reported to be unknown. The company can be considered for 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 – 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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more!

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

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. Abhishek Singhania
Designation :	Director
Contact No.:	91-9818666056
Date :	27.09.2013

LOCATIONS

Registered Office/ Factory :	297, Basement Gurunanak Auto Market, Kashmere Gate, New Delhi-110006, India
Tel. No.:	91-120-2569078
Mobile No.:	91-9818666056 [Mr. Abhishek Singhania]
Fax No.:	91-120-2569079
E-Mail :	info@ennov.in
Location :	Owned
Factory :	Located At: Delhi Noida

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Sanjay Singhania

Designation :

Director

Address :

D-144, Sector 47, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

26.07.1974

Date of Appointment :

14.02.2008

Din No.:

01291342

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	Company/ LLP Status	Defaulting status
1	U50300AS1995PTC004521	EAST INDIA AUTO TRADERS PRIVATE LIMITED	Director	27/07/1995	27/07/1995	Active	NO
2	U74999DL1999PTC098374	E-PACK POLYMERS PRIVATE LIMITED	Director	12/02/1999	12/02/1999	Active	NO
3	U32109DL2003PTC120952	E-DURABLES ELECTRONICS PRIVATE LIMITED	Director	17/06/2003	17/06/2003	Active	NO
4	U51109AS2000PTC005999	S D MERCANTILES PRIVATE LIMITED	Director	15/03/2006	15/03/2006	Active	NO
5	U29253DL2006PTC155466	ENNOV TECHNO TOOLS PRIVATE LIMITED	Director	14/11/2006	14/11/2006	Active	NO
6	U32107DL2008PTC174054	ENNOV INFRA SOLUTIONS PRIVATE LIMITED	Director	14/02/2008	14/02/2008	Active	NO
7	U25202DL2005PTC135762	KRISH PACKAGING PRIVATE LIMITED	Director	20/08/2010	20/08/2010	Active	NO
8	U27106DL2005PTC134579	RAKSHA TINPLATE PRIVATE LIMITED	Additional director	19/12/2011	19/12/2011	Active	NO

Name :

Mr. Ajay Singhania

Designation :

Director

Address :

D-145, Sector 47, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

07.08.1975

Date of Appointment :

14.02.2008

Din No.:

00107555

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	Company/ LLP Status	Defaulting status
1	U74999DL1999PTC098374	E-PACK POLYMERS PRIVATE LIMITED	Director	27/12/1999	27/12/1999	Active	NO
2	U51109AS2000PTC005999	S D MERCANTILES PRIVATE LIMITED	Director	15/03/2006	15/03/2006	Active	NO
3	U29253DL2006PTC155466	ENNOV TECHNO TOOLS PRIVATE LIMITED	Director	14/11/2006	14/11/2006	Active	NO
4	U32107DL2008PTC174054	ENNOV INFRA SOLUTIONS PRIVATE LIMITED	Director	14/02/2008	14/02/2008	Active	NO
5	U70200DL2010PTC202248	MADHAV BUILDING SOLUTION PRIVATE LIMITED	Director	04/02/2011	04/02/2011	Active	NO

Name :

Mr. Abhishek Singhania

Designation :

Director

Address :

B-116, Sector 41, Noida-210010, Uttar Pradesh, India

Date of Birth/Age :

09.11.1961

Date of Appointment :

14.02.2008

Din No.:

01995390

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Abhishek Singhania	3000
Sanjay Singhania	500
Ajay Singhania	500
Deen Dayal Singhania	3000
Lalita Devi Singhania	3000
TOTAL	10000

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Earthing Electrode, Earthing Backfill Compound, Surge Protection Device, etc.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users and Others

No. of Employees :

20 [Approximately]

Bankers :

Corporation Bank, SME Branch, G-28/29, Sector-18, Noida-201301, Uttar Pradesh, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Secured Loan	0.323	0.000
TOTAL	0.323	0.000
Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Unsecured Loan	10.685	9.414
TOTAL	10.685	9.414

Banking Relations :	--
Auditors :
Name :	Samarth M. Surana and Company Chartered Accountants
Address :	R. No. 307, Sai Chambers, 783/16, D.B. Gupta Road, Karol Bagh, New Delhi-110005, India
Tel No.:	91-11-23550150
Mobile No.:	91-9910356565
PAN No:	AAQFS4882C

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 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		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	5.000	5.000
3] Reserves & Surplus		0.291	0.112	0.000
4] (Accumulated Losses)		0.000	0.000	(0.010)
NETWORTH		0.391	5.212	5.090
LOAN FUNDS
1] Secured Loans		0.323	0.000	14.077
2] Unsecured Loans		10.685	9.414	11.000
TOTAL BORROWING		11.008	9.414	25.077
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		11.399	14.626	30.167
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.579	0.122	0.370
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.210	0.163	0.143
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	4.002	3.159	18.184
	Cash & Bank Balances	0.890	0.468	3.845
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	12.337	12.797	20.107
Total Current Assets		17.229	16.424	42.136
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities	6.519	2.156	12.578
	Provisions	0.100	0.019	0.019
Total Current Liabilities		6.619	2.175	12.597
Net Current Assets		10.610	14.249	29.539
MISCELLANEOUS EXPENSES		0.000	0.092	0.115
TOTAL		11.399	14.626	30.167

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	14.426	40.902	25.179
Less	EXPENSES
		TOTAL	14.013	40.688	25.141
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.413	0.214	0.038
Less/ Add	DEPRECIATION/ AMORTISATION		0.134	0.033	0.028
	PROFIT / (LOSS) BEFORE TAX		0.279	0.181	0.011
Less	TAX		0.100	0.060	0.021
	PROFIT / (LOSS) AFTER TAX		0.179	0.121	(0.010)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.111	(0.010)	0.000
	BALANCE CARRIED TO THE B/S		0.290	0.111	(0.010)
	IMPORTS		0.000	35.037	0.000
	Earnings / (Loss) Per Share (Rs.)		17.90	12.15	(0.98)

Particulars	31.03.2013	31.03.2012
Sales Turnover [Approximately]	30.000	14.400

The above information has been parted by Mr. Abhishek Singhania.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.24	0.30	(0.04)
Return on Total Assets (PBT/Total Assets}	(%)	1.57	1.09	0.03
Return on Investment (ROI) (PBT/Networth)		0.71	0.03	0.00
Debt Equity Ratio (Total Debt/Networth)		28.15	1.81	4.93
Current Ratio (Current Asset/Current Liability)		2.60	7.55	3.34

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last five 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	Yes
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	No
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10170531	19/11/2008	45,000,000.00	CORPORATION BANK	SME BRANCH, G-28/29, SECTOR-18, NOIDA - 201301, UTTAR PRADESH, INDIA	A56951379

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.62.35
UK Pound	1	Rs.101.20
Euro	1	Rs.84.54

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		38

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.