MIRA INFORM REPORT

Report Date :

03.10.2013

IDENTIFICATION DETAILS

Name :	VIPUL SAMEER AGENCIES PRIVATE LIMITED
Registered Office :	66/ 24, Narain Market, Ajmeri Gate, Delhi – 110006
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	28.03.1995
Com. Reg. No.:	55-066846
Capital Investment / Paid-up Capital :	Rs.1.500 Millions
CIN No.: [Company Identification No.]	U74899DL1995PTC066846
TAN No.: [Tax Deduction & Collection Account No.]	DELV02730A
PAN No.: [Permanent Account No.]	AADFV0314R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Concrete Pumps.
No. of Employees :	12 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 22000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Profit margin of the company appears to be low. Trade relations are to be fair. Business is active. Payment terms are reported to be slow but correct. 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. Vipul Gupta
Designation :	Director
Contact No.:	91-9810225947
Date :	19.09.2013

LOCATIONS

Registered Office / Factory :	66/ 24, Narain Market, Ajmeri Gate, Delhi – 110006, India
Tel. No.:	91-11-41828993
Mobile No.:	91-9810225947 (Mr. Vipul)
Fax No.:	Not Available
E-Mail :	vipulgupta@vsapl.com anilgoyal@akgassociates.com
Website :	www.vsapl.com
Location :	Owned
Corporate Office :	UG-2A, Siddharth Chambers, 55-A, Kalu Sarai, Hauz Khas, New Delhi-110016, India
Tel. No.:	91-11-26561792/26564030
Fax No.:	91-11-26561792

DIRECTORS

As on: 28.09.2012

Name :

Mr. Ravi Dev Gupta

Designation :

Director

Address :

B–5/ 108, Safdarjung Enclave, New Delhi – 110 029, India

Date of Birth/Age :

08.09.1943

Date of Appointment :

28.03.1995

DIN No.:

00083126

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	U74899DL1995PTC066846	VIPUL SAMEER AGENCIES PRIVATE LIMITED	Director	28/03/1995	28/03/1995	-	Active	NO
2	U74899DL1992PTC050743	SELECT CONSULTANTS PRIVATE LIMITED	Director	28/04/1999	28/04/1999	-	Active	NO
3	U74899DL1994PTC062245	TRIKON MACHINE PRIVATE LIMITED	Director	11/06/2009	11/08/2008	-	Active	NO
4	U72200DL2008PTC182621	LOCWEL INFRATECH PRIVATE LIMITED	Director	29/08/2008	29/08/2008	-	Active	NO

Name :

Mr. Vipul Gupta

Designation :

Director

Address :

B–5/ 108, Safdarjung Enclave, New Delhi – 110 029, India

Date of Birth/Age :

05.09.1974

Date of Appointment :

02.08.1999

DIN No.:

00105024

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	U74899DL1995PTC066846	VIPUL SAMEER AGENCIES PRIVATE LIMITED	Director	02/08/1999	02/08/1999	-	Active	NO
2	U74899DL1992PTC050743	SELECT CONSULTANTS PRIVATE LIMITED	Director	21/03/2001	21/03/2001	-	Active	NO
3	U74899DL1995PTC071086	SHELTERS FINANCIAL SERVICES PRIVATE LIMITED	Director	09/04/2003	09/04/2003	-	Active	NO
4	U74899DL1994PTC062245	TRIKON MACHINE PRIVATE LIMITED	Director	11/06/2009	11/08/2008	-	Active	NO
5	U72200DL2008PTC182621	LOCWEL INFRATECH PRIVATE LIMITED	Director	29/08/2008	29/08/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 28.09.2012

Names of Shareholders	No. of Shares
Ravi Dev Gupta	66150
Vidhi Gupta	2000
Prakash Gupta	56000
Richa Gupta	6500
Vipul Gupta	19250
Rukmani Gupta	100
TOTAL	150000

Equity Share Break up (Percentage of Total Equity)

As on: 28.09.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Concrete Pumps.
Products :	Concrete Pump Parts Stone Crusher Parts Victaulic Pipes Tamrock / Boomer Parts Grout Packers PVC Water Stop Seals Rubber Hoses Rock Bolts Concrete Batching Plant Spares Hot Mix/Asphalt Plants Parts
Exports :
Products :	Finished Goods
Countries :	Africa
Imports :
Products :	Raw Materials
Countries :	Italy Korea
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

12 (Approximately)

Bankers :

Bank of India Hamdard Dawakhana Branch, 1545, Gali Qasimjan Bazar Lal Kuan, New Delhi - 110006, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
SHORT TERM BORROWINGS
Loans Repayable on Demand
From Bank	5.003	7.959
Total	5.003	7.959

Banking Relations :	--
Auditors :
Name :	Anil K. Goyal and Associates Chartered Accountant
Address :	204-206, Siddharth Chambers, Near IIT, Hauz Khas, New Delhi - 110016, India
Tel. No.:	91-11-41828993/ 41828994
Fax No.:	91-11-41828983
E-Mail :	anilgoyal@akgassociates.com
Pan No.:	AATFA3051E
Company in which KMP/relative of KMP can exercise significant influence :	Trikon Machine Private Limited Rockwill Vipra Associates

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs.1.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs.1.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.500	1.500
(b) Reserves & Surplus	4.206	3.869
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.300
Total Shareholders’ Funds (1) + (2)	5.706	5.669
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	14.716	9.534
(b) Trade payables	11.405	8.234
(c) Other current liabilities	0.582	0.375
(d) Short-term provisions	0.164	0.167
Total Current Liabilities (4)	26.867	18.310
TOTAL	32.573	23.979
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.943	1.182
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.080	0.067
(d) Long-term Loan and Advances	0.000	0.051
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	1.023	1.300
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	17.725	9.403
(c) Trade receivables	11.036	11.327
(d) Cash and cash equivalents	1.163	1.318
(e) Short-term loans and advances	1.626	0.631
(f) Other current assets	0.000	0.000
Total Current Assets	31.550	22.679
TOTAL	32.573	23.979

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		1.500
2] Share Application Money		0.300
3] Reserves & Surplus		3.617
4] (Accumulated Losses)		0.000
NETWORTH		5.417
LOAN FUNDS
1] Secured Loans		4.052
2] Unsecured Loans		1.338
TOTAL BORROWING		5.390
DEFERRED TAX LIABILITIES		0.000
TOTAL		10.807
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.518
Capital work-in-progress		0.000
INVESTMENT		1.140
DEFERREX TAX ASSETS		0.032
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.271
	Sundry Debtors	13.331
	Cash & Bank Balances	0.165
	Other Current Assets	0.767
	Loans & Advances	1.243
Total Current Assets		23.777
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	13.174
	Other Current Liabilities	2.334
	Provisions	0.152
Total Current Liabilities		15.660
Net Current Assets		8.117
MISCELLANEOUS EXPENSES		0.000
TOTAL		10.807

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	45.555	38.922	46.926
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	44.825	38.154	45.387
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.730	0.768	1.539
Less/ Add	DEPRECIATION/ AMORTISATION		0.238	0.318	0.317
	PROFIT BEFORE TAX		0.492	0.450	1.222
Less	TAX		0.152	0.172	0.331
	PROFIT AFTER TAX		0.340	0.278	0.891
	EARNINGS IN FOREIGN CURRENCY		NA	0.692	0.501
	Earnings Per Share (Rs.)		2.27	1.85	5.94

Particulars	31.03.2013
Sales Turnover (Approximately)	50.000

The above information has been parted by Mr. Vipul Gupta

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.75	0.71	1.90
Return on Total Assets (PBT/Total Assets}	(%)	1.51	1.88	4.83
Return on Investment (ROI) (PBT/Networth)		0.09	0.08	0.23
Debt Equity Ratio (Total Debt/Networth)		2.58	1.68	1.00
Current Ratio (Current Asset/Current Liability)		1.17	1.24	1.52

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 three years	Yes
12]	Profitability for last three years	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	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

PERFORMANCE

The company has earned a net profit of Rs.0.340 Million. The operating results are expected to be better in anticipation of a general improvement in the service sector and economy of the company.

UNSECURED LOAN

(Rs. In Millions)

Particular	As on 31.03.2012	As on 31.03.2011
SHORT TERM BORROWINGS
Loans and Advance from related Parties	9.694	1.556
Deposit	0.019	0.019
Total	9.713	1.575

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90035402	06/06/2008 *	5,000,000.00	Bank of India	Hamdard Dawakhana Branch, 1545, Gali Qasimjan Bazar Lal Kuan, New Delhi, Delhi - 110006, INDIA	A40825465

* Date of charge modification

FIXED ASSETS

Tangible Assets

• Computer Software
• Plant and Machinery
• Motor Car
• Furniture and Fixture
• Office Equipments
• Motorcycle
• UPS
• Air Conditioner
• EPABX

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.62.36
UK Pound	1	Rs.101.20
Euro	1	Rs.84.54

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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.