MIRA INFORM REPORT

Report Date :

23.10.2013

IDENTIFICATION DETAILS

Name :	DADHEECH INFRASTRUCTURES PRIVATE LIMITED

Registered Office :	9/12, Lal Bazar Street, 'E' Block, 4^th Floor, Kolkata – 700001, West Bengal

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	29.03.2007

Com. Reg. No.:	21-114838

Capital Investment / Paid-up Capital :	Rs. 19.345 Millions

CIN No.: [Company Identification No.]	U14219WB2007PTC114838

TAN No.: [Tax Deduction & Collection Account No.]	CALD05752F

Legal Form :	Private Limited Liability Company

Line of Business :	Construction of Buildings.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 890000

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The external borrowings recorded by the company seems to be increasing over years which may act as a threat to the liquidity position of the company. However, trade relations are reported to be improving. Business is active. Payments are reported to be slow. 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

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	CRISIL
Rating	Bank guarantee: “A4” (Suspended)
Rating Explanation	Minimal degree of safety. It carry very high credit risk.
Date	10.05.2013

Rating Agency Name	CRISIL
Rating	Cash Credit: “C” (Suspended)
Rating Explanation	Very high risk of default.
Date	10.05.2013

Note: Reason for Suspended is not available.

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 :	9/12, Lal Bazar Street, 'E' Block, 4^th Floor, Kolkata – 700001, West Bengal, India
Tel. No. :	91-33-22103701
Fax No. :	91-33-22435824
E-Mail :	inform_dipl@yahoo.co.in

Site Office :	L- 11, 2^nd Floor, Sarita Vihar, New Delhi – 110076, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Sanjeev Kumar Sharma

Designation :

Additional Director

Address :

17/18, Rameshwar Malia, 1^st Bye Lane, Howrah – 711101, West Bengal, India

Date of Birth/Age :

18.01.1971

Date of Appointment :

27.02.2012

DIN No. :

00503832

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	U51109WB1994PTC064857	PARAKH COMMERCIAL PRIVATE LIMITED	Director	31/08/1994	31/08/1994	26/06/2009	Active	NO
2	U51109WB1995PTC067786	FAST-N-PERFECT TRACON PRIVATE LIMITED	Director	01/12/1995	01/12/1995	02/07/2012	Active	NO
3	U45209WB1982PTC035294	DREAMLAND CONSTRUCTION PRIVATE LIMITED	Additional director	08/09/2011	08/09/2000	11/05/2013	Active	NO
4	U51909WB1995PTC074026	VENKATESH ADVISORY SERVICES PRIVATE LIMITED	Director	25/10/2002	25/10/2002	-	Active	NO
5	U51109WB1994PTC062145	MONOLINK TREXIM PRIVATE LIMITED	Director	25/11/2003	25/11/2003	14/08/2009	Active	NO
6	U51109WB1995PTC067757	AXIX VYAPAAR PRIVATE LIMITED	Director	08/12/2003	08/12/2003	-	Active	NO
7	U51109WB1994PTC065336	CYRILLIC TIE-UP PRIVATE LIMITED	Director	10/12/2003	10/12/2003	-	Under Process of Striking off	NO
8	U72200WB1999PLC090187	STERLING INFOTECH LIMITED	Director	28/07/2004	28/07/2004	-	Active	NO
9	U51109WB1995PTC073986	PUNCTUAL SUPPLY PRIVATE LIMITED	Director	03/04/2006	03/04/2006	12/04/2011	Active	NO
10	U51909WB1995PTC073927	AAKAR COMMODEAL PVT.LTD.	Director	25/09/2006	25/09/2006	-	Active	NO
11	U14219WB2007PTC114838	DADHEECH INFRASTRUCTURES PRIVATE LIMITED	Additional director	27/02/2012	29/03/2007	-	Active	NO
12	U13209WB2004PTC097910	SRI BALAJI METALS AND MINERALS PRIVATE LIMITED	Additional director	04/10/2007	04/10/2007	01/12/2008	Active	NO
13	U51909WB2011PTC158661	JALARAM TRADELINK PRIVATE LIMITED	Director	26/05/2011	11/05/2011	-	Active	NO
14	U51909WB2011PTC159391	PREVIEW DEALER PRIVATE LIMITED	Director	27/05/2011	14/05/2011	-	Active	NO
15	U51909WB2011PTC159389	ORIGINAL DISTRIBUTORS PRIVATE LIMITED	Director	27/05/2011	14/05/2011	-	Active	NO
16	U51909WB2011PTC158883	RADISON MERCHANDISE PRIVATE LIMITED	Director	06/06/2011	06/06/2011	05/09/2012	Active	NO
17	U51909WB2011PTC159555	FOREVER TRADECOMM PRIVATE LIMITED	Director	06/06/2011	06/06/2011	05/09/2012	Active	NO
18	U52190WB2011PTC160807	UDANT VINTRADE PRIVATE LIMITED	Director	14/06/2011	14/06/2011	-	Active	NO
19	U51909WB2011PTC158900	VIRAT MERCHANDISE PRIVATE LIMITED	Director	14/06/2011	14/06/2011	-	Active	NO
20	U74140WB2011PTC162266	TINMURTI ENCLAVE ADVISORY PRIVATE LIMITED	Director	13/10/2011	13/10/2011	26/09/2012	Active	NO
21	U51909WB2011PTC165534	FORCEFUL VINTRADE PRIVATE LIMITED	Director	13/10/2011	13/10/2011	05/09/2012	Active	NO
22	U51909WB2011PTC161980	ONTIME COMMODITIES MERCHANTS PRIVATE LIMITED	Director	13/10/2011	13/10/2011	05/09/2012	Active	NO
23	U51909WB2011PTC161986	ONWARD COMMODITIES MERCHANTS PRIVATE LIMITED	Director	13/10/2011	13/10/2011	26/09/2012	Active	NO
24	U51909WB2011PTC159381	SWARANGANGA VINIMAY PRIVATE LIMITED	Director	24/08/2012	24/08/2012	-	Active	NO
25	U51909WB2011PTC158898	TIMELY TRADECOM PRIVATE LIMITED	Director	24/08/2012	24/08/2012	-	Active	NO
26	U51909WB2011PTC159124	MOONLINK COMMOTRADE PRIVATE LIMITED	Director	24/08/2012	24/08/2012	-	Active	NO
27	U51909WB2011PTC161494	KRIPA DEALMARK PRIVATE LIMITED	Director	24/08/2012	24/08/2012	-	Active	NO
28	U51909WB2010PTC150574	DHANVIRDHI VINCOM PRIVATE LIMITED	Director	24/08/2012	24/08/2012	-	Active	NO
29	U74999WB2011PTC160985	BALANCED COMMOSALE PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
30	U51909WB2011PTC159454	RAJMANGAL COMMODEAL PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
31	U51909WB2011PTC158865	FASTRACK COMMODEAL PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
32	U51909WB2011PTC159467	SANJEEVANI VINIMAY PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
33	U51909WB2011PTC159122	MANIMUDRA VINTRADE PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
34	U51909WB2011PTC159079	SAFELIFT MERCANTILE PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
35	U51909WB2011PTC159447	FAIRWAY SALES PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
36	U52190WB2011PTC161219	ISHAYU VINTRADE PRIVATE LIMITED	Additional director	11/12/2012	11/12/2012	-	Active	NO
37	U70102WB2013PTC192370	KOTIRATAN ENCLAVE PRIVATE LIMITED	Director	07/06/2013	07/06/2013	-	Active	NO
38	U70102WB2013PTC192369	KOTIRATAN COMPLEX PRIVATE LIMITED	Director	07/06/2013	07/06/2013	-	Active	NO
39	U70102WB2013PTC195299	MOONSTAR PROPERTIES PRIVATE LIMITED	Additional director	06/09/2013	06/09/2013	-	Active	NO
40	U70102WB2013PTC195296	LIFEWOOD PROJECTS PRIVATE LIMITED	Additional director	06/09/2013	06/09/2013	-	Active	NO

Name :

Mr. Pawan Kumar Sharma

Designation :

Director

Address :

17/18, Rameshwar Malia, 1^st Bye Lane, Howrah – 711101, West Bengal, India

Date of Birth/Age :

01.12.1972

Date of Appointment :

29/03/2007

PAN No. :

AMEPS8090C

DIN No. :

00503850

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	U51909WB1993PTC057679	GOLDSTAR MERCHANTS PRIVATE LIMITED	Director	15/02/1993	15/02/1993	-	Active	NO
2	U67120WB1995PTC073094	DOPS INVESTMENT AND VINIMOY COMPANY PRIVATE LIMITED	Director	19/08/1996	19/08/1996	01/09/2011	Active	NO
3	U51109WB1995PTC067757	AXIX VYAPAAR PRIVATE LIMITED	Director	07/02/1999	07/02/1999	-	Active	NO
4	U51909WB1993PTC057683	APANA FINVEST PRIVATE LIMITED	Director	03/09/1999	03/09/1999	-	Active	NO
5	U65922WB1988PTC045676	KPS FINANCE AND TRADE PRIVATE LIMITED	Director	03/09/1999	03/09/1999	-	Active	NO
6	U72200WB1999PLC090187	STERLING INFOTECH LIMITED	Director	23/04/2001	23/04/2001	-	Active	NO
7	U45209WB1982PTC035294	DREAMLAND CONSTRUCTION PRIVATE LIMITED	Director	24/10/2002	24/10/2002	12/04/2011	Active	NO
8	U51109WB1994PTC062145	MONOLINK TREXIM PRIVATE LIMITED	Director	01/01/2004	01/01/2004	14/08/2009	Active	NO
9	U51109WB1995PTC073986	PUNCTUAL SUPPLY PRIVATE LIMITED	Additional director	13/04/2011	04/02/2004	21/09/2011	Active	NO
10	U51109WB1995PTC067766	AJAYHARI TEXTRADE PRIVATE LIMITED	Director	22/09/2004	22/09/2004	03/02/2010	Active	NO
11	U51909WB1995PTC073927	AAKAR COMMODEAL PRIVATE LIMITED	Director	05/02/2007	05/02/2007	-	Active	NO
12	U14219WB2007PTC114838	DADHEECH INFRASTRUCTURES PRIVATE LIMITED	Director	29/03/2007	29/03/2007	-	Active	NO
13	U51909WB1995PTC074026	VENKATESH ADVISORY SERVICES PRIVATE LIMITED	Director	11/06/2008	11/06/2008	-	Active	NO
14	U51909WB2011PTC159373	CHERRY DEALER PRIVATE LIMITED	Director	26/05/2011	11/04/2011	-	Active	NO
15	U51909WB2011PTC159391	PREVIEW DEALER PRIVATE LIMITED	Director	27/05/2011	14/05/2011	-	Active	NO
16	U51909WB2011PTC159388	LILYGOLD VANIJYA PRIVATE LIMITED	Director	27/05/2011	14/05/2011	-	Active	NO
17	U51909WB2011PTC159381	SWARANGANGA VINIMAY PRIVATE LIMITED	Director	06/06/2011	06/06/2011	-	Active	NO
18	U51909WB2011PTC159561	OVIATION MARKETING PRIVATE LIMITED	Director	06/06/2011	06/06/2011	14/02/2013	Active	NO
19	U51909WB2011PTC159562	PARAGON VINTRADE PRIVATE LIMITED	Director	06/06/2011	06/06/2011	14/02/2013	Active	NO
20	U51109WB2008PTC123905	STYLISH COMMODITIES PRIVATE LIMITED	Director	16/09/2011	16/09/2011	-	Under Process of Striking off	NO
21	U51909WB2011PTC161978	LINKWISE COMMODITIES TRADERS PRIVATE LIMITED	Director	13/10/2011	13/10/2011	-	Active	NO
22	U51909WB2011PTC161980	ONTIME COMMODITIES MERCHANTS PRIVATE LIMITED	Director	13/10/2011	13/10/2011	05/09/2012	Active	NO
23	U51909WB2011PTC161977	LINKUP COMMODITY MARKETING PRIVATE LIMITED	Director	13/10/2011	13/10/2011	08/09/2012	Active	NO
24	U51909WB2009PTC138753	MAHAVIDYA SUPPLIERS PRIVATE LIMITED	Director	28/05/2012	28/05/2012	-	Active	NO
25	U51909WB2009PTC138720	MAHAMAYA MERCHANDISE PRIVATE LIMITED	Director	28/05/2012	28/05/2012	-	Active	NO
26	U51909WB2009PTC138680	KALANIDHI MERCHANDISE PRIVATE LIMITED	Director	28/05/2012	28/05/2012	-	Active	NO
27	U51909WB2009PTC137068	KALIMATA DISTRIBUTOR PRIVATE LIMITED	Director	28/05/2012	28/05/2012	-	Active	NO
28	U51909WB2011PTC158898	TIMELY TRADECOM PRIVATE LIMITED	Director	24/08/2012	24/08/2012	-	Active	NO
29	U52190WB2011PTC161219	ISHAYU VINTRADE PRIVATE LIMITED	Director	24/08/2012	24/08/2012	-	Active	NO
30	U52190WB2011PTC161216	ISHAT COMMODEAL PRIVATE LIMITED	Director	24/08/2012	24/08/2012	-	Active	NO
31	U51909WB2011PTC170618	PANCHKOTI COMMERCIAL PRIVATE LIMITED	Director	17/10/2012	17/10/2012	-	Active	NO
32	U51909WB2011PTC170167	GANNAYAK DEALER PRIVATE LIMITED	Director	18/10/2012	18/10/2012	-	Active	NO
33	U74999WB2011PTC160985	BALANCED COMMOSALE PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
34	U51909WB2011PTC159454	RAJMANGAL COMMODEAL PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
35	U51909WB2011PTC158865	FASTRACK COMMODEAL PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
36	U51909WB2011PTC159467	SANJEEVANI VINIMAY PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
37	U51909WB2011PTC159122	MANIMUDRA VINTRADE PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
38	U51909WB2011PTC159079	SAFELIFT MERCANTILE PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
39	U51909WB2011PTC158900	VIRAT MERCHANDISE PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
40	U51909WB2011PTC159447	FAIRWAY SALES PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
41	U70102WB2013PTC192370	KOTIRATAN ENCLAVE PRIVATE LIMITED	Director	07/06/2013	07/06/2013	-	Active	NO
42	U70102WB2013PTC194106	SAMRIDHIPURN REALTORS PRIVATE LIMITED	Director	07/06/2013	07/06/2013	-	Active	NO
43	U70102WB2013PTC195299	MOONSTAR PROPERTIES PRIVATE LIMITED	Additional director	06/09/2013	06/09/2013	-	Active	NO
44	U70102WB2013PTC195302	NIGHTANGLE INFRASTRUCTURES PRIVATE LIMITED	Additional director	06/09/2013	06/09/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders		No. of Shares
Kamal Prasad Sharma		292500
Pushpa Devi Sharma		263000
Sanjeev Kumar Sharma		280000
Pawan Kumar Sharma		259000
Vijay Laxmi Sharma		200000
Jyoti Sharma		210000
Panchsheel Vyapaar Private Limited, India		70000
Goldstar Merchants Private Limited, India		117000
KPS Finance and Trade Private Limited, India		103500
Dops Investment and Vinimay Private Limited, India		4500
Total		1799500

Allottees as on 31.03.2012

Names of Allottees		No. of Shares
Majority Realbuild Private Limited		15000
Ritman Commodities Private Limited		6800
Shivrashi Construction Private Limited		60000
Sidhant Residency Private Limited		53200
Total		135000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	16.39
Directors or relatives of Directors	83.61
Total	100.00

BUSINESS DETAILS

Line of Business :	Construction of Buildings.

Products/ Services :	Construction and Mining, etc.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Sme Branch, Ballygunge, 50A, Gariahat Road, 5th Floor, Kolkata - 700019, West Bengal, India

· State Bank of Mysore, Bentinck Street Branch, 1 & 2 Old Court House Corner, Kolkata, India

Facilities :

SECURED LOANS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
Term loan – From Other Parties	30.238	55.214

SHORT TERM BORROWINGS
Term loan – From Other Parties	27.897	8.960
Loans repayable on demand SLC Credit from state bank of India, Ballygunge SME Branch	10.000	10.000
Cash Credit from State Bank of India, SME Ballygunge Branch (Against Hypothecation Stock, WIP, Debtors)	118.795	111.062
Total	186.930	185.236

Note

Details of guarantee for each type of borrowings

Cash Credit from State Bank of India, SME Ballygunge Branch (Against Hypothecation Stock, WIP, Debtors).

Term loans from other parties.

Other details

The detail loan from other parties is secured by way of hypothecation of various equipments bearing interest of minimum of 14.46% repayable in 35 monthly instalments.

Banking Relations :	--

	· Srei Equipment Finance Private Limited, 'Vishwakarma', 86c, Topsia Road, Kolkata - 700046, West Bengal, India · Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India

Auditors :
Name :	Vikash A Jain and Company Chartered Accountants
Address :	8/1 Lal Bazar Street, 3^rd Floor, R No 5B, Kolkata – 700001, West Bengal, India
Tel. No. :	91-33-32986043
Fax No. :	91-33-40053382
E-Mail :	vikashjainco@rediffmail.com
Income-tax PAN of auditor or auditor's firm :	ACVPJ1309G

Exercise control or have significant influence :	· Cyrillic Tie up Private Limited · Dops Investment Vinimay Company Private Limited · Dreamland Construction Private Limited · Goldstar Merchant Private Limited · KPS Finance and Trade Private Limited · Panchsheel Vyapaar Private Limited · Punctual Supply Private Limited · Sterling Infotech Limited · Venkatesh Advisory Private Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount

2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

1934500	Equity Shares	Rs.10/- each	Rs. 19.345 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	19.345	17.995
(b) Reserves & Surplus	203.436	54.143
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	5.500
Total Shareholders’ Funds (1) + (2)	222.781	77.638

(3) Non-Current Liabilities
(a) long-term borrowings	30.238	67.098
(b) Deferred tax liabilities (Net)	7.226	3.494
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	37.464	70.592

(4) Current Liabilities
(a) Short term borrowings	193.264	150.059
(b) Trade payables	34.304	23.916
(c) Other current liabilities	9.464	3.445
(d) Short-term provisions	(1.741)	(0.223)
Total Current Liabilities (4)	235.291	177.197

TOTAL	495.536	325.427

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	88.306	71.562
(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	0.339	0.293
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	88.645	71.855

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	187.563	133.640
(c) Trade receivables	157.286	73.940
(d) Cash and cash equivalents	15.182	8.003
(e) Short-term loans and advances	44.131	29.265
(f) Other current assets	2.729	8.724
Total Current Assets	406.891	253.572

TOTAL	495.536	325.427

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		17.545
2] Share Application Money		7.500
3] Reserves & Surplus		41.273
4] (Accumulated Losses)		0.000
NETWORTH		66.318
LOAN FUNDS
1] Secured Loans		124.039
2] Unsecured Loans		16.565
TOTAL BORROWING		140.604
DEFERRED TAX LIABILITIES		2.813

TOTAL		209.735

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		78.204
Capital work-in-progress		0.000

INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	59.476
	Sundry Debtors	60.143
	Cash & Bank Balances	3.568
	Other Current Assets	2.103
	Loans & Advances	27.072
Total Current Assets		152.362
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	14.695
	Other Current Liabilities	6.219
	Provisions	0.000
Total Current Liabilities		20.914
Net Current Assets		131.448

MISCELLANEOUS EXPENSES		0.083

TOTAL		209.735

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	526.860
		Other Income	1.438
		TOTAL	528.298	615.089	310.526

Less	EXPENSES
		TOTAL	504.726	602.223	294.835

	PROFIT/ (LOSS) BEFORE TAX		23.572	12.866	15.691

Less	TAX		7.929	4.047	5.512

	PROFIT/ (LOSS) AFTER TAX		15.643	8.819	10.179

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		27.592	18.773	8.594

	BALANCE CARRIED TO THE B/S		43.236	27.592	18.773

	Earnings / (Loss) Per Share (Rs.)		8.09	4.90	6.12

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.96	1.43	3.28

Net Profit Margin (PBT/Sales)	(%)	4.47	NA	NA

Return on Total Assets (PBT/Total Assets}	(%)	4.76	3.95	6.81

Return on Investment (ROI) (PBT/Networth)		0.11	0.17	0.24

Debt Equity Ratio (Total Debt/Networth)		1.00	2.80	2.12

Current Ratio (Current Asset/Current Liability)		1.73	1.43	7.29

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	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	Yes
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 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	Yes
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	10437161	01/06/2013	556,694.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B79748240
2	10426342	16/05/2013	10,000,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B75349803
3	10410962	11/03/2013	11,640,062.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B70488028
4	10410960	11/03/2013	20,139,726.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B70487780
5	10410961	11/03/2013	36,359,938.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B70487897
6	10410959	11/03/2013	93,500,336.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B70487624
7	10423183	08/03/2013	17,500,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B74218223
8	10423212	08/03/2013	22,500,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B74218454
9	10388983	19/10/2012	1,737,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B62956735
10	10383482	30/09/2012	1,737,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B60908217
11	10372069	01/08/2012	14,664,615.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B56213325
12	10363578	26/05/2012	1,102,500.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B42847962
13	10363399	24/05/2012	3,020,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B42780221
14	10363586	24/05/2012	9,698,750.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B42852541
15	10361053	04/05/2012	30,000,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B41772575
16	10354092	05/04/2012	20,000,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B39094339
17	10335355	28/01/2012	8,450,000.00	TATA CAPITAL LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B32028581
18	10334263	19/01/2012	10,000,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B31558695
19	10292336	23/05/2011	1,816,971.00	TATA CAPITAL LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B15051709
20	10292279	01/05/2011	5,000,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B15031578
21	10259935	01/01/2011	20,000,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B02951622
22	10259929	23/11/2010	23,500,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	B02951440
23	10201862	25/04/2013 *	250,000,000.00	STATE BANK OF INDIA	SME BRANCH, BALLYGUNGE, 50A, GARIAHAT ROAD, 5TH F LOOR, KOLKATA - 700019, WEST BENGAL, INDIA	B77838076
24	10192872	04/01/2010	36,708,564.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	A76076504
25	10101012	07/09/2007	1,121,000.00	L & T FINANCE LIMITED	L&T HOUSE, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA	A36409340

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
Loans repayable on demand – From other parties	0.000	11.884

SHORT TERM BORROWINGS
From other parties	36.572	20.037
Total	36.572	31.921

REVIEW OF OPERATIONS

The company is very keen and focusing strongly in execution of Civil Construction Projects. They have a fast growing that provides services to civil construction, mining and infrastructure sector projects.

The company is managed by highly experience team of professionals possessing driving the company ahead with great deal of zeal and enthusiasm. They are well equipped with sophisticated equipments including Crushers, Excavators, Tippers, Concrete Pumps, Batching Plants.

The net profit for the year has been Rs. 15.643 Millions as against Rs. 8.819 Millions during the previous year. The company has changed the method of depreciation from Written Down Value method to straight Line Method, retrospectively, at the rates specified in Shedule XIV of the Companies, 1956 to be in uniformity with industry practices.

CONTINGENT LIABILITIES:

PARTICULARS

31.03.2012

(Rs. In Millions)

31.03.2011

(Rs. In Millions)

Bank Guarantee to Custom and Bonds towards import of Machineries in EPCG mode

1.160

Bank Guarantee for OMDC Tender

0.000

2.500

FIXED ASSETS

· Plant and Machinery

· Computer and Printer

· Telephone

· Furniture and Fixture

· Motor Car and Cycle

· Live Asset

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.61.78
UK Pound	1	Rs.99.66
Euro	1	Rs.84.49

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	2
--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		27

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.

MIRA INFORM REPORT

2.96

4.47

4.76

0.11

1.00

1.73

Unit