MIRA INFORM REPORT

Report Date :

07.10.2013

IDENTIFICATION DETAILS

Name :	N S TERBO PRIVATE LIMITED
Registered Office :	308, Kale Ram Chamber, East Guru Angad Nagar, Lakshmi Nagar, Delhi – 110 092
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	28.06.2004
Com. Reg. No.:	55-127220
Capital Investment / Paid-up Capital :	Rs.0.100 million
CIN No.: [Company Identification No.]	U29113DL2004PTC127220
TAN No.: [Tax Deduction & Collection Account No.]	DELN06434B
PAN No.: [Permanent Account No.]	AABCN9652N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Turbines.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 9000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions.

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 (GENERAL DETAILS)

Name :	Mr. S.U. Khan
Designation :	Director
Contact No.:	91-9891483853
Date :	24.09.2013

LOCATIONS

Registered Office :	308, Kale Ram Chamber, East Guru Angad Nagar, Lakshmi Nagar, Delhi – 110 092, India
Tel. No.:	Not Available
Mobile No.:	91-9891483853 (Mr. S.U. Khan)
Fax No.:	Not Available
E-Mail :	sainirahul007@rediffmail.com repairs02@yahoo.co.in
Location :	Owned
Factory :	S-16, South Side, G.T. Road, Industrial Area, Ghaziabad – 201 009, Uttar Pradesh, India
Tel. No.:	91-120-2840691/22052866
Fax No.:	91-120-2840799

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Neeraj Mohan Gupta

Designation :

Director

Address :

6/11, Semal Road, Shipra Sun City, Indirapuram, Ghaziabad – 201 009, Uttar Pradesh, India

Date of Birth/ Age :

03.09.1964

Date of Appointment :

28.06.2004

DIN No.:

00295098

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	U29113DL2004PTC127220	N S TERBO PRIVATE LIMITED	Director	28/06/2004	28/06/2004	-	Active	NO
2	U74899DL1991PTC043971	MONO-TECH ENGINEERS PRIVATE LIMITED	Director	16/12/2005	16/12/2005	-	Active	NO
3	U29253UP2009PTC038908	N.S THERMAL ENERGY PRIVATE LIMITED	Director	10/12/2009	10/12/2009	-	Active	NO
4	U24233UP2010PTC040501	MITHILA DYEING & CHEMICALS PRIVATE LIMITED	Director	07/05/2010	07/05/2010	-	Active	NO

Name :

Mr. Saadat Ullah Khan

Designation :

Director

Address :

708, Fancy Apartment, 19 – Vasundhara Enclave, Delhi – 110 096, India

Date of Birth/ Age :

09.09.1945

Date of Appointment :

28.06.2004

DIN No.:

00295145

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	U29113DL2004PTC127220	N S TERBO PRIVATE LIMITED	Director	28/06/2004	28/06/2004	-	Active	NO
2	U74899DL1991PTC043971	MONO-TECH ENGINEERS PRIVATE LIMITED	Director	16/12/2005	16/12/2005	-	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2010

Names of Shareholders	No. of Shares
Neeraj Mohan Gupta	5000
Saadat Ullah Khan	5000
Total	10000

AS ON 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Turbines.
Products :	Steam Turbines Gas Turbines Power Generators Gear Boxes Machinery Spare Parts Critical Repair Services Engineering Services Steam Turbine Operating Conditions Erection and Commissioning Control Panel
Exports :
Products :	Turbines
Countries :	European Countries South East Asia
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

50 (Approximately)

Bankers :

• Punjab National Bank, Retail Assets Branch, V.M.L.G, Dayanand Nagar, Ghaziabad – 201 001, Uttar Pradesh, India
• Canara Bank, Laxmi Nagar, Delhi – 110 092, India
• HDFC Bank Limited
• Standard Chartered Bank

Facilities :

Secured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
From Punjab National Bank, Ghaziabad	0.461	0.594
From HDFC Bank Limited, New Delhi	0.198	0.359
Total	0.659	0.953

Banking Relations :	--
Financial Institution:	India Bull Financial Services Limited
Auditors :
Name :	Mukesh Bhatnagar and Associates Chartered Accountants
Address :	1, Navyug Market, First Floor, Ghaziabad – 201 001, Uttar Pradesh, India
Tel. No.:	91-120-2790072/2724051
PAN No.:	ADBPB3696F

CAPITAL STRUCTURE

AS ON 29.09.2012

Authorized 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
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
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	0.814	0.589
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	1.400	1.400
Total Shareholders’ Funds (1) + (2)	2.314	2.089
(3) Non-Current Liabilities
(a) Long-term borrowings	0.659	0.953
(b) Deferred tax liabilities (Net)	0.003	0.003
(c) Other long term liabilities	0.000	0.000
(d) Long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.662	0.956
(4) Current Liabilities
(a) Short term borrowings	5.128	6.114
(b) Trade payables	21.107	25.295
(c) Other current liabilities	0.350	0.189
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	26.585	31.598
TOTAL	29.561	34.643
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.282	1.555
(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)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	1.282	1.555
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	15.211	24.595
(c) Trade receivables	5.663	1.376
(d) Cash and cash equivalents	0.737	1.646
(e) Short-term loans and advances	6.442	5.401
(f) Other current assets	0.226	0.070
Total Current Assets	28.279	33.088
TOTAL	29.561	34.643

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		1.400
3] Reserves & Surplus		0.455
4] (Accumulated Losses)		0.000
NETWORTH		1.955
LOAN FUNDS
1] Secured Loans		0.795
2] Unsecured Loans		2.648
TOTAL BORROWING		3.443
DEFERRED TAX LIABILITIES		0.003
TOTAL		5.401
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.332
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.556
	Sundry Debtors	2.036
	Cash & Bank Balances	2.438
	Other Current Assets	0.000
	Loans, Advances and Deposits	4.004
Total Current Assets		16.034
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.504
	Other Current Liabilities & Provisions	5.756
Total Current Liabilities		11.968
Net Current Assets		4.066
MISCELLANEOUS EXPENSES		0.003
TOTAL		5.401

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011
	SALES
		Income	NA	NA
		Other Income	NA	NA
		TOTAL	NA	NA
	TOTAL EXPENSES		NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.499	0.420
Less/ Add	DEPRECIATION/ AMORTISATION		0.273	0.287
	PROFIT BEFORE TAX		0.226	0.133
Less	TAX		NA	NA
	PROFIT AFTER TAX		NA	NA
	Earnings Per Share (Rs.)		NA	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	0.76	0.38	NA
Return on Investment (ROI) (PBT/Networth)		0.10	0.06	NA
Debt Equity Ratio (Total Debt/Networth)		2.50	3.38	1.76
Current Ratio (Current Asset/Current Liability)		1.06	1.05	1.34

LOCAL AGENCY FURTHER INFORMATION

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	No
12) Profitability for last two 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)	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

Note:

The registered office of the company has been shifted from 108, Gagan Vihar Extension, Delhi – 110 051, India to the present address w.e.f. 01.01.2011.

Unsecured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
SHORT TERM BORROWINGS
From Bank and Financial Companies	3.690	5.426
From Shareholders including Directors	1.438	0.688
Total	5.128	6.114

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10272553	24/02/2011	388,000.00	PUNJAB NATIONAL BANK	RETAIL ASSETS BRANCH, VMLG, DAYANAND NAGAR, GHAZIABAD, UTTAR PRADESH - 201001, INDIA	B08182974
2	10023780	20/09/2006	25,000.00	CANARA BANK	LAXMI NAGAR, DELHI, Delhi - 110092, INDIA	A06045256
3	10004482	27/04/2006	590,000.00	PUNJAB NATIONAL BANK	V.M.L.G., GHAZIABAD, GHAZIABAD, UTTAR PRADESH - 201001, INDIA	A00919001

FIXED ASSETS

· Refrigerators

· Inverter

· Air Conditioners

· Computer and Software

· Furniture and Fixtures

· Mobiles

· Car

· Scooter

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.61.41
UK Pound	1	Rs.99.29
Euro	1	Rs.83.67

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		41

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.