MIRA INFORM REPORT

Report Date :

22.10.2013

IDENTIFICATION DETAILS

Name :	AVENTURA COMPONENTS PRIVATE LIMITED (w.e.f 27.05.2005)
Formerly Known As :	PURGE SYSTEMS PRIVATE LIMITED
Registered Office :	A-1/152, Neb Sarai, Main IGNOU Road, New Delhi – 110068
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	22.09.1997
Com. Reg. No.:	55-089785
Capital Investment/ Paid-up Capital:	Rs. 2.656 Millions
CIN No.: [Company Identification No.]	U51505DL1997PTC089785
TAN No.: [Tax Deduction & Collection Account No.]	DELP09140F
PAN No.: [Permanent Account No.]	AAFCA3564R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Water Treatment and Water Handling Components.
No. of Employees:	300 (Approximately) (In Office + In Factory)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 220000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relation are reported as fair. Business is active. Payment terms are usually correct. The company can be considered for business dealing at usually trade terms and condition.

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

India’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the traqde deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest.  The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term rating : “BB” (Suspended)
Rating Explanation	Moderate degree of safety
Date	July, 2013

Rating Agency Name	ICRA
Rating	Short term rating : “A4” (Suspended)
Rating Explanation	High credit risk.
Date	July, 2013

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. Rahul
Designation :	Accounts Department
Contact No.:	91-11-43100513

LOCATIONS

Registered Office/ Factory :	A-1/152, Neb Sarai, Main IGNOU Road, New Delhi – 110068, India
Tel. No.:	91-11-43100541/43100519/43100541/517/43100500
Mobile No.:	91-9717690542 (Mr. Rupak)
Fax No.:	91-11-43100599
E-Mail :	rupak@aventura.co.in icmas@rediffmail.com marketing@aventura.co.in vivek@ewgroup.in sanjeet@ewgroup.in ssharma@aventura.co.in
Website :	www.aventura.co.in
Location :	Owned

DIRECTORS

As on 10.09.2012

Name :

Mr. Kewal Krishan Kundan Lal Nohria

Designation :

Director

Address :

11, Aryavatha, Narayan Dabhulkar Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

04.10.1932

Date of Appointment :

05.10.2005

DIN No.:

00060015

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	L74140PN1986PLC041033	ACCELYA KALE SOLUTIONS LIMITED	Director	08/10/1988	08/10/1988	-	Active	NO
2	U24295GA1988PLC000921	CG-PPI ADHESIVE PRODUCTS LIMITED	Director	04/11/1988	04/11/1988	-	Active	NO
3	U74899DL1993PTC051849	ITRON METERING SOLUTIONS INDIA PRIVATE LIMITED	Director	22/01/1993	22/01/1993	29/10/2010	Active	NO
4	L29142TN1992PLC021997	IGARASHI MOTORS INDIA LIMITED	Director	03/07/1993	03/07/1993	-	Active	NO
5	U31404TN1993PTC025779	AGILE CONSUMER ELECTRIC INDIA PRIVATE LIMITED	Director	13/09/1993	13/09/1993	28/03/2011	Active	NO
6	U33112PN1995PTC093837	COLOGICX SYSTEMS PRIVATE LIMITED	Director	14/03/1997	14/03/1997	-	Active	NO
7	U60231KA1984PTC006017	MAINI MATERIALS MOVEMENT PRIVATE LIMITED	Director	21/07/2007	24/09/1998	-	Active	NO
8	U27201KA1972PTC002307	MAINI PRECISION PRODUCTS PRIVATE LIMITED	Director	19/09/2007	26/03/1999	-	Active	NO
9	U72200KA1999PTC033050	COREEL TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	29/08/2000	29/08/2000	-	Active	NO
10	U74999HR2000PLC035269	GROW TALENT COMPANY LIMITED	Director	09/09/2000	09/09/2000	-	Active	NO
11	U72200DL2001PTC112820	SUKARMA TECHNOLOGIES PRIVATE LIMITED	Director	14/03/2002	14/03/2002	04/08/2008	Active	NO
12	U74899DL2001PTC111383	FONTUS WATER PRIVATE LIMITED	Director	02/01/2003	02/01/2003	-	Active	NO
13	U74899DL2000PTC105715	E A WATER PRIVATE LIMITED	Director	01/07/2003	01/07/2003	-	Active	NO
14	U74999HR2004PLC035286	ACQVIRE TALENT SERVICES LIMITED	Director	14/01/2004	14/01/2004	-	Amalgamated	NO
15	U31102TN2003PTC052057	AGILE ELECTRIC DRIVES TECHNOLOGIES AND HOLDINGS PRIVATE LIMITED	Director	20/05/2004	20/05/2004	-	Amalgamated	NO
16	U74899DL2000PTC103848	NET HOLDINGS PRIVATE LIMITED	Director	15/06/2004	15/06/2004	-	Active	NO
17	U29299MH1964PLC013087	C.T.R. MANUFACTURING INDUSTRIES LIMITED	Director	15/07/2004	15/07/2004	-	Active	NO
18	U31102TN2004PTC054140	AGILE ELECTRIC TECHNOLOGIES PRIVATE LIMITED	Director	26/09/2008	19/01/2005	-	Amalgamated	NO
19	U85110MH2001PTC132960	TANCLEAN PRIVATE LIMITED	Director	01/04/2005	01/04/2005	31/07/2008	Active	NO
20	L20200MH1956PLC009899	JOLLY BOARD LIMITED	Director	25/07/2005	25/07/2005	-	Active	NO
21	U51505DL1997PTC089785	AVENTURA COMPONENTS PRIVATE LIMITED	Director	05/10/2005	05/10/2005	-	Active	NO
22	U40100MH2005PTC156964	POWER ENERGY CONSERVATION (INDIA) PRIVATE LIMITED	Director	21/10/2005	21/10/2005	-	Strike off	NO
23	U51505TN2005PTC057898	IGARASHI MOTORS SALES PRIVATE LIMITED	Director	31/10/2006	31/10/2006	-	Active	NO
24	L99999MH1982PLC026191	PRADEEP METALS LIMITED	Director	05/09/2008	14/04/2008	-	Active	NO
25	U24134MH1986PTC038671	POLYMERMANN (ASIA) PRIVATE LIMITED	Director	18/06/2010	20/11/2009	-	Active	NO
26	U85100DL2009PTC227463	HEALTHPOINT SERVICES INDIA PRIVATE LIMITED	Director	23/09/2011	12/09/2011	-	Active	NO
27	U80903HR2012NPL045688	INSPIRED LEADERSHIP GURUKUL	Director	20/04/2012	20/04/2012	-	Active	NO

Name :

Mr. Sunil Sugan Chand Ghorawat

Designation :

Director

Address :

HN 1507-A, Beverly Park II, DLF City, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

20.09.1968

Date of Appointment :

15.03.2002

DIN No.:

00189277

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	U74899DL2000PTC105715	E A WATER PRIVATE LIMITED	Director	16/05/2000	16/05/2000	-	Active	NO
2	U60231DL2000PTC107593	VERA RESOURCES PRIVATE LIMITED	Director	07/09/2000	07/09/2000	22/09/2011	Active	NO
3	U74899DL2000PTC103848	NET HOLDINGS PRIVATE LIMITED	Director	21/01/2001	21/01/2001	-	Active	NO
4	U74899DL2001PTC111383	FONTUS WATER PRIVATE LIMITED	Managing director	01/05/2009	21/06/2001	-	Active	NO
5	U51505DL1997PTC089785	AVENTURA COMPONENTS PRIVATE LIMITED	Director	15/03/2002	15/03/2002	-	Active	NO
6	U85110MH2001PTC132960	TANCLEAN PRIVATE LIMITED	Director	01/04/2005	01/04/2005	31/07/2008	Active	NO
7	U74100MH2005PTC153125	ENVIROCLEAN VENTURES PRIVATE LIMITED	Director	09/05/2005	09/05/2005	31/07/2008	Active	NO
8	L36939DN1989PLC000377	NISSAN COPPER LIMITED	Director	06/11/2006	06/11/2006	02/03/2009	Active	NO
9	U74899DL1982PTC013405	DEOLALIKAR CONSULTANTS PRIVATE LIMITED	Director	03/04/2007	03/04/2007	-	Active	NO
10	U40100MH2005PTC156964	POWER ENERGY CONSERVATION (INDIA) PRIVATE LIMITED	Additional director	02/12/2010	02/12/2010	-	Strike off	NO
11	U74140DL2011PTC219187	TAD ARTS PRIVATE LIMITED	Director	13/05/2011	13/05/2011	23/08/2011	Active	NO
12	U74994DL2011PTC219186	YA WE DO DESIGN PRIVATE LIMITED	Director	13/05/2011	13/05/2011	23/08/2011	Active	NO
13	U74140HR2011PTC043129	KARABI ARTWORKS PRIVATE LIMITED	Director	06/06/2011	06/06/2011	18/07/2011	Active	NO
14	U85100DL2009PTC227463	HEALTHPOINT SERVICES INDIA PRIVATE LIMITED	Director	23/09/2011	12/09/2011	-	Active	NO
15	U45400DL2010PTC211559	TERRA FIRMA DESIGNS PRIVATE LIMITED	Additional director	26/12/2011	26/12/2011	-	Active	NO
16	U73100MH2012NPL226204	INSTITUTE FOR ECONOMIC POLICY ANALYSIS AND RESEARCH	Director	19/01/2012	19/01/2012	-	Active	NO
17	U85100DL2013NPL246905	EARTH WATER FOUNDATION	Director	02/01/2013	02/01/2013	-	Active	NO
18	U74140DL2013PTC256104	AJH ADVISORY PRIVATE LIMITED	Director	31/07/2013	31/07/2013	-	Active	NO

Name :

Mr. Kamal Mathura Dutt Tiwari

Designation :

Director

Address :

House No. A-68, Sector - 14, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

17.11.1970

Date of Appointment :

06.03.2006

DIN No.:

00119385

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	U51505DL1997PTC089785	AVENTURA COMPONENTS PRIVATE LIMITED	Director	06/03/2006	06/03/2006	-	Active	NO
2	U74899DL1982PTC013405	DEOLALIKAR CONSULTANTS PRIVATE LIMITED	Director	03/04/2007	03/04/2007	31/10/2011	Active	NO
3	U74899DL2001PTC111383	FONTUS WATER PRIVATE LIMITED	Director	09/07/2008	09/07/2008	-	Active	NO
4	U40100MH2005PTC156964	POWER ENERGY CONSERVATION (INDIA) PRIVATE LIMITED	Additional director	02/12/2010	02/12/2010	-	Strike off	NO

KEY EXECUTIVES

Name :	Mr. Rahul
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 10.09.2012

Names of Shareholders	No. of Shares
Sunil Ghorawat	1
Fonus Water Private Limited, India	2656249
TOTAL	2656250

As on 10.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Water Treatment and Water Handling Components.

Products :

Item Code No. (ITC Code)	Product Description
39251000	Reservoirs tanks, Vats and similar containers
84863000	Machines and Apparatus for the manufacture of flat panel display
84219900	Ro Membranes
59090090	FRP Membrane Housing

Exports :

Products :

Finished Goods

Countries :

European Countries

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

300 (Approximately) (In Office + In Factory)

Bankers :

· Union Bank Of India, F 14/15, Connaught Pace, New Delhi - 110001, India

Tel. No.: 91-11-23354234

Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr.
Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

· Oriental Bank of Commerce, A-2/40 Safdarjung Enclave, New Delhi - 110029, India

Facilities :

SECURED LOANS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
SHORT TERM BORROWINGS
From Bank	72.364	50.682
Foreign currency Borrwings from Banks	17.531	0.000
Total	89.895	50.682

Banking Relations :	--
Auditors :
Name :	O.P. Tulsyan and Company Chartered Accountants
Address :	B-27/5,(D-S), Near Raja Garden Flyovers, Ramesh Nagar, New Delhi – 110015 India
Tel. No.:	91-11-42288258
PAN No.:	AAAFO0729Q
Associates :	· Fontus Water Private Limited · EA Water Private Limited · Deka Consultants Private Limited · Co-Logix Systems Solutions Private Limited · Core-el Technologies Private Limited · Grow Talent Company Limited · Power Energy Conservation India Private Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.1/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2656250	Equity Shares	Rs.1/- each	Rs.2.656 Millions

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	2.656	2.578
(b) Reserves & Surplus	52.379	40.926
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.015
Total Shareholders’ Funds (1) + (2)	55.035	43.519
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.499	0.382
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.499	0.382
(4) Current Liabilities
(a) Short term borrowings	103.395	64.182
(b) Trade payables	89.242	75.510
(c) Other current liabilities	9.095	8.340
(d) Short-term provisions	5.364	5.785
Total Current Liabilities (4)	207.096	153.817
TOTAL	262.630	197.718
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.029	3.485
(ii) Intangible Assets	2.317	1.688
(iii) Capital work-in-progress	0.000	0.612
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.500	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	10.000	10.000
Total Non-Current Assets	15.846	15.785
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	71.728	62.254
(c) Trade receivables	131.624	92.475
(d) Cash and cash equivalents	22.126	8.533
(e) Short-term loans and advances	6.361	5.768
(f) Other current assets	14.945	12.903
Total Current Assets	246.784	181.933
TOTAL	262.630	197.718

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.578
2] Share Application Money		0.016
3] Reserves & Surplus		27.606
NETWORTH		30.200
LOAN FUNDS
1] Secured Loans		30.532
2] Unsecured Loans		0.000
TOTAL BORROWING		30.532
DEFERRED TAX LIABILITIES		0.270
TOTAL		61.002
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.148
Capital work-in-progress		0.000
INVESTMENTS		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	39.325
	Sundry Debtors	71.153
	Cash & Bank Balances	7.449
	Other Current Assets	0.000
	Loans & Advances	12.697
Total Current Assets		130.624
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	53.893
	Other Current Liabilities	14.942
	Provisions	3.956
Total Current Liabilities		72.791
Net Current Assets		57.833
MISCELLANEOUS EXPENSES		0.021
TOTAL		61.002

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income		418.917
		Other Income		1.826
		TOTAL	502.002	420.743	298.874
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	488.842	399.594	281.005
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		13.160	21.149	17.869
Less/ Add	DEPRECIATION/ AMORTISATION		1.292	1.218	0.854
	PROFIT/ (LOSS) BEFORE TAX		11.868	19.931	17.015
Less	TAX		3.734	6.501	5.689
	PROFIT/ (LOSS) AFTER TAX		8.134	13.430	11.326
Less	DEFERRED TAX ASSETS ADJUSTMENT		0.117	0.111	0.276
Less	ADJUSTMENT OF TAX FOR EARLIER YEARS		0.000	0.000	0.148
	BALANCE CARRIED TO THE B/S		8.017	13.319	10.902
	EARNINGS IN FOREIGN CURRENCY
		FOB value of exports of product	8.295	3.914	13.790
	TOTAL EARNINGS		8.295	3.914	13.790
	IMPORTS
		Stock in Trade	244.318	159.718	101.972
	TOTAL IMPORTS		244.318	159.718	101.972
	Earnings / (Loss) Per Share (Rs.)		3.06	5.17	4.31

Particulars	31.03.2013
Sales Turnover (Approximately)	550.000

The above information has been parted by Mr. Rahul (Accounts Department)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.62	3.19	3.79
Net Profit Margin (PBT/Sales)	(%)	NA	4.76	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.53	10.11	12.72
Return on Investment (ROI) (PBT/Networth)		0.22	0.46	0.56
Debt Equity Ratio (Total Debt/Networth)		1.88	1.47	1.01
Current Ratio (Current Asset/Current Liability)		1.19	1.18	1.79

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 four 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	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	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10437498	25/06/2013	50,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA	B79897773
2	10408628	11/02/2013	20,000,000.00	UNION BANK OF INDIA	F14-15,CONNAUGHT PLACE, NEW DELHI, NEW DELHI - 110001, INDIA	B69839959
3	10397956	26/11/2012	140,000,000.00	UNION BANK OF INDIA(LEAD BANK)	F14-15,CONNAUGHT PLACE, NEW DELHI, NEW DELHI - 110001, INDIA	B66214883
4	10336210	29/12/2011	20,000,000.00	ORIENTAL BANK OF COMMERCE	A-2/40 SAFDARJUNG ENCLAVE, NEW DELHI - 110029, INDIA	B32378721
5	10075570	25/10/2011 *	140,000,000.00	UNION BANK OF INDIA	F14/15,CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA	B25486028
6	10008667	23/03/2006	30,500,000.00	UNION BANK OF INDIA	CONNAUGHT PLACE BRANCH, F14/15,CONNAUGHT PLACE, NEW DELHI - 110001, INDIA	A00450999

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
SHORT TERM BORROWINGS
Other loans and advances	13.500	13.500
Total	13.500	13.500

YEAR IN REVIEW

As the company has a significant purchase from international manufacturers across the world, the depreciating rupee in the last two quarters has had a significant impact on the margins in this business. This has affected the profitability of the business adversely, compared to the previous year.

The company has strengthened its market position in water components space. It has expanded its customer base and product range to cater to a bigger market. This has helped it to increase its market share and grow its revenue by over 19% from the previous year.

With the increased spending on drinking water and wastewater treatment systems in both the private and the government sector, there is increasing demand for various equipments and components. Product quality, availability and technical support are extremely important for system-integrators to build their plants. The company has strong relationships with over 800 system-integrators across the country, who make up over 60% of the total universe. With the worsening ground water quality, the reverse osmosis technology has become extremely popular for desalination applications. Aventura Components has grown its presence in this segment by offering reverse osmosis membranes, housings, pumps and other pre-treatment equipments to all system-integrators building RO plants. Similarly, the company has a market leadership position in key components for filtration and softening applications.

In 2011-12, Aventura entered into the segment of wastewater treatment components/equipments to be supplied to contractors for municipal and industrial applications. It made progress in the supply of wastewater treatment media and ultrafiltration modules that are used for recycling applications. This segment is expected to grow further, as the company introduces more products for system-integrators.

The year also saw the company expanding its market presence as it added employees in newer locations like Erode, Vadodara, Surat, Indore and Lucknow. The company now has a wide sales presence in the sector. This allows it to regularly interact with small and medium OEMs across the breadth of the country, and serve their requirements better.

The company continues to invest in marketing and brand-building activities to create more demand for its offerings. Aventura has become a well known brand in the components space. Aventura and Aventura-owned brands now contribute 70% of the overall turnover of the company. The company also been able to convince many leading international manufacturers to supply products under an Aventura-owned brand name due to its market position and volumes of sales

FUTURE PROSPECTS

Aventura will be aggressively focusing on growing its market presence and securing more market share in the coming year. It has re-organized its activities into 3 teams that will be focusing on large, medium and small accounts. It will be building a network of over 100 channel partners this year to serve the small customers that it is unable to reach directly. It is also investing in product development and stronger sourcing, in order to retain its competitive edge in the market place.

Efforts towards indigenization of some products and promoting a better product mix would also help in improving its margins in the coming year.

FIXED ASSETS

v Tangible Assets

· Plant and Machinery

· Office Equipment

· Furniture and Fittings

· Computer

· Car- Vema

· Motor Cycle

· Scooter

· Fan

· Telephone Instrument

v Intangible Assets

· Software

· CRM Software

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.61.49
UK Pound	1	Rs.99.41
Euro	1	Rs.84.12

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.