MIRA INFORM REPORT

Report Date :

03.09.2013

IDENTIFICATION DETAILS

Name :	SUVEE IMPEX PRIVATE LIMITED [w.e.f.22.09.2003]
Formerly Known As :	CYCLONE COMPUTERS PRIVATE LIMITED
Registered Office :	Jai Tulsi Chambers, No. 101, 1st Floor, 12, K.H. Road, Bangalore – 560027, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	21.03.1996
Com. Reg. No.:	08-020104
Capital Investment / Paid-up Capital :	Rs. 2.447 Millions
CIN No.: [Company Identification No.]	U30007KA1996PTC020104
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Machinery Parts, PVC Coated, CFL Lamps, Glass Beads, Lock, Tooth Brushes etc.
No. of Employees :	5 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 11600
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The profit margin of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments 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. Nahata Vinod Kumar
Designation :	Director
Contact No.:	91-9845012888
Date :	31.08.2013

LOCATIONS

Registered Office :	Jai Tulsi Chambers, No. 101, 1st Floor, 12, K.H. Road, Bangalore – 560027, Karnataka, India
Tel. No.:	91-80-22114144/ 43
Mobile No.:	91-9845012888 [Mr. Vinod K.]
Fax No.:	Not Available
E-Mail :	suveeimpex@yahoo.co.in
Location :	Owned

DIRECTORS

AS ON 28.09.2012

Name :

Mr. Nahata Vinod Kumar

Designation :

Director

Address :

A-402, Adarsh Palace, 47^th Cross, 5^th Block, Jayanagar, Bangalore – 560091, Karnataka, India

Date of Birth/Age :

10.03.1963

Date of Appointment :

21.03.1996

DIN No.:

01875790

Name :

Sumer Mal Nahata

Designation :

Director

Address :

356, Lake Town, Block A, S Duhdum Municipality N24, Kolkata – 700089, West Bengal, India

Date of Birth/Age :

17.02.1939

Date of Appointment :

21.03.1996

DIN No.:

01875804

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U30007KA1996PTC020104	SUVEE IMPEX PRIVATE LIMITED	Director	21/03/1996	21/03/1996	Active	NO
2	U74140WB1991PTC053721	VIBA BUSINESS SERVICES PRIVATE LIMITED	Additional director	23/03/2013	23/03/2013	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2012

Names of Shareholders	No. of Shares
Shiv Kumar	3000
Bahadur	2500
Ramakrishna	1800
Amarchand Malu	1800
Deepak	1800
Dilip Kumar Choraria	1800
Manjula	1800
Raj Kumar Agarwal	1800
Raj Kumar Nahata	1800
Sarita Nahata	1800
Chanchal Baid	1700
Manisha Malu	1700
Vinod Kumar Nahata	6800
Dhanraj Tantia	1600
Dipak Agarwal	1800
Jatanlal Bantia	1600
Omprakash Agarwal	1600
Pawan Sethia	1600
Ramesh Chand Sonl	1600
Saroj Dev	1600
Swati Doshi	1600
Prakash Singhi	1500
Sumantu Ghosh	1500
Sushil Bantia	1500
Bharti Jain	1000
Swati Jain	1000
Sumermal Nahata	100
Esskay Telecom Limited, India	40000
Bee Dee Traders Private Limited, India	65000
Manglam Equity Management, India	50000
Bilky Sales Industries Services Private Limited, India	40000
Total	244700

AS ON 28.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	79.69
Directors or relatives of directors	20.31
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Machinery Parts, PVC Coated, CFL Lamps, Glass Beads, Lock, Tooth Brushes etc.
Imports :
Products :	Finished Goods
Countries :	· China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash, Credit and Depend

GENERAL INFORMATION

Suppliers :

· Chengxian Enterprises Company Limited

· Fenghua Ningdong Engineering Machinery

· Giobalway Textile Corp

· Hanghzou Zhongqiang Textile

· Hantron International

· Niro Overseas (HK) Limited

· Pro Maxi Company Limited

· Sindhu Cargo Services Limited

· Sunlog Services Limited

· Wujiang City Melian Rubber and Plastic and Textile Company

· Yiches Group Company Limited

Customers :

Others

· Bhagya Sales Corporation

· Calcutta Bead and Pearls Centre

· Industrial Hydraulic and Earth Movers

· Shree Rudra and Company

· Vijay Enterprises

No. of Employees :

5 (Approximately)

Bankers :

· Canara Bank

· State Bank of India

· Karnataka Bank Limited

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
LONG TERM BORROWINGS
Term Loans from Banks HDFC Bank Car Loan [Secured by hypothecation of Machinery, Land and Building and Vehicle]	0.000	0.170
Total	0.000	0.170

Banking Relations :	--
Auditors :
Name :	Shivanna and Company Chartered Accountants
Address :	Race Course Road, Bangalore – 560001, Karnataka, India
Income-tax PAN of auditor or auditor's firm :	ADXPD9457G

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250,000	Equity Shares	Rs. 10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
244,700	Equity Shares	Rs. 10/- each	Rs. 2.447 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	2.447	2.447
(b) Reserves & Surplus	0.467	0.426
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	2.914	2.873
(3) Non-Current Liabilities
(a) long-term borrowings	7.300	3.270
(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)	7.300	3.270
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	14.352	3.872
(c) Other current liabilities	0.682	0.011
(d) Short-term provisions	0.060	0.101
Total Current Liabilities (4)	15.094	3.984
TOTAL	25.308	10.127
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.615	0.713
(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	1.000	1.000
(c) Deferred tax assets (net)	0.013	0.022
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.083	0.050
Total Non-Current Assets	1.711	1.785
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1.851	0.058
(c) Trade receivables	17.610	6.253
(d) Cash and cash equivalents	2.015	1.028
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	2.121	1.003
Total Current Assets	23.597	8.342
TOTAL	25.308	10.127

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.447
2] Share Application Money		0.000
3] Reserves & Surplus		0.385
4] (Accumulated Losses)		0.000
NETWORTH		2.832
LOAN FUNDS
1] Secured Loans		0.336
2] Unsecured Loans		1.000
TOTAL BORROWING		1.336
DEFERRED TAX LIABILITIES		0.000
TOTAL		4.168
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.918
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.069
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.298
	Sundry Debtors	4.002
	Cash & Bank Balances	0.944
	Other Current Assets	1.834
	Loans & Advances	0.000
Total Current Assets		7.078
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.582
	Other Current Liabilities	0.000
	Provisions	0.315
Total Current Liabilities		3.897
Net Current Assets		3.181
MISCELLANEOUS EXPENSES		0.000
TOTAL		4.168

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from Operations	209.717	164.335	100.698
		Other Income	0.315	0.221	NA
		TOTAL (A)	210.032	164.556	NA
Less	EXPENSES
		Cost of material consumed	206.927	162.728
		Changes in inventories of finished goods, work in progress and stock in trade	(1.851)	0.000
		Employee Benefit Expenses	0.315	0.324
		Other Expenses	3.680	0.644
		TOTAL (B)	209.071	163.696	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.961	0.860
Less	FINANCIAL EXPENSES (D)		0.692	0.482
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.269	0.378	0.392
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.188	0.219	0.283
	PROFIT BEFORE TAX (E-F) (G)		0.081	0.159	0.112
Less	TAX (H)		0.040	0.118	0.034
	PROFIT AFTER TAX (G-H) (I)		0.041	0.041	0.078
	Earnings Per Share (Rs.)		0.15	0.65	0.46

Particulars	31.03.2013
Sales Turnover (Approximately)	300.000

The above information has been parted by Mr. Nahata Vinod Kumar [Director]

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.02	0.02	NA
Net Profit Margin (PBT/Sales)	(%)	0.04	0.10	0.11
Return on Total Assets (PBT/Total Assets}	(%)	0.33	1.75	1.40
Return on Investment (ROI) (PBT/Networth)		0.03	0.06	0.04
Debt Equity Ratio (Total Debt/Networth)		2.51	1.14	0.47
Current Ratio (Current Asset/Current Liability)		1.56	2.09	1.82

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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
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

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
LONG TERM BORROWINGS
From Directors and Shareholders	2.300	2.300
From Financial Institution [Secured by the personal guarantees of the Directors]	5.000	0.800
Total	7.300	3.100

Note:

The registered office of the company has been shifted from 318, Chickpet Main Road, Bangalore – 560053, Karnataka, India to the present w.e.f.20.02.2009

FIXED ASSETS:

· Mobile Phone

· Vehicles

· Furniture and Fixture

· Computers

· Air Conditioners

· UPS

· Printer

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. 65.86
UK Pound	1	Rs. 102.52
Euro	1	Rs. 87.06

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	4
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.