MIRA INFORM REPORT

Report Date :

14.09.2013

IDENTIFICATION DETAILS

Name :	S S P PRIVATE LIMITED [w.e.f. 18.10.2001]
Formerly Known As :	FARIDABAD STAINLESS AND STEEL PRODUCTS COMPANY PRIVATE LIMITED
Registered Office :	13, Mile Stone, Mathura Road, Faridabad - 121003, Haryana
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	03.06.1985
Com. Reg. No.:	05-021129
Capital Investment / Paid-up Capital :	Rs.433.904 Millions
CIN No.: [Company Identification No.]	U29219HR1985PTC021129
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Dairy Food-Processing, Plants and Equipment Pharmaceutical, Chemical Plants and Equipment.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 5300000
Status :	Satisfactory
Payment Behaviour :	Regular
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 regular and as per commitments. 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

Name :	Mr. Dev Kumar
Designation :	Account Manager
Contact No.:	91-129-2277442
Date :	03.09.2013

LOCATIONS

Registered/ Corporate Office :	13, Mile Stone, Mathura Road, Faridabad - 121003, Haryana, India
Tel. No.:	91-129-2277442 / 2275968 / 2277730 / 4183700 / 4183799 / 5275441
Fax No.:	91-129-2277441 / 4183777 / 6847665
E-Mail :	info@sspindia.com info@ssp.co.in marketing@ssp.co.in
Website :	http://www.sspindia.com
Area :	4500 sq. ft.
Location :	Owned
Research and Development Center :	19 DLF, Industrial Area, Phase-II, 13/4, Mathura Road, Faridabad-121003, Haryana, India
Tel. No.:	91-129-2277730, 2275441
Fax No.:	91-129-2254956
Factory 1 :	Village Chandpur, Tehsil Vallabgarh, Dist. Faridabad – 121007, Haryana, India
Area :	4000 sq. mtr.
Location :	Owned
Factory 2 :	B-109, MIDC Butibori, Nagpur – 441122, Maharashtra, India
Area :	10000 sq. mtr.
Location :	Owned
Factory 3:	Plot No.149, Noida Special Economic Zone, Noida Dadri Road, Phase 2, Noida – 201305
Location :	Leased
Factory 4 :	C-60A, Eldeco Sidcol Industrial Park, Sitarganj, U S Nagar, Uttarkhand – 262403, India
Location :	Owned
Factory 5 :	12/6 Mile Stone, Gurukul, Faridabad-121 003, Haryana, India
Mumbai Office :	Aggarwal Trade Center, Sector-II, CDB-Belapur, Navi Mumbai - 400614, Maharashtra, India

DIRECTORS

As on 25.08.2012

Name :	Mr. Rama Prasad Banerjee
Designation :	Whole- Time Director
Address :	219, Kailash Hills, New Delhi- 110065, India
Date of Birth/Age :	21.08.1930
Date of Appointment :	28.09.1990
DIN :	00250105
Name :	Mr. Tapas Chatterjee
Designation :	Managing Director
Address :	219, Kailash Hills, New Delhi- 110065, India
Date of Birth/Age :	25.03.1950
Date of Appointment :	01.10.1985
DIN :	00250010
Name :	Mrs. Rekha Banerjee
Designation :	Whole- Time Director
Address :	219, Kailash Hills, New Delhi- 110065, India
Date of Birth/Age :	26.02.1941
Date of Appointment :	01.10.1985
DIN :	00254055
Name :	Ms. Dola Chatterjee
Designation :	Whole- Time Director
Address :	219, Kailash Hills, New Delhi- 110065, India
Date of Birth/Age :	19.01.1958
Date of Appointment :	09.05.2001
DIN :	00253904
Name :	Mr. Gautam Banerjee
Designation :	Whole- Time Director
Address :	219, Kailash Hills, New Delhi- 110065, India
Date of Birth/Age :	28.10.1965
Date of Appointment :	24.09.2009
DIN :	00250277
Name :	Mr. Putul Banerjee
Designation :	Whole- Time Director
Address :	219, Kailash Hills, New Delhi- 110065, India
Date of Birth/Age :	21.08.1970
Date of Appointment :	30.09.2009
DIN :	00250374
Name :	Mr. Tanmoy Chatterjee
Designation :	Director
Address :	219, Kailash Hills, New Delhi- 110065, India
Date of Birth/Age :	11.11.1981
Date of Appointment :	30.09.2009
DIN :	00499800
Name :	Ms. Shohini Chatterjee
Designation :	Director
Address :	219, Kailash Hills, New Delhi- 110065, India
Date of Birth/Age :	01.03.1983
Date of Appointment :	27.09.2011
DIN :	03633345

KEY EXECUTIVES

Name :	Mr. Dev Kumar
Designation :	Account Manager
Name :	Mr. Dwarka Nath
Designation :	Secretary
Address :	CM-311, Abhimanyu Apartment, Vasundhara Enclave, Delhi- 110096, India
Date of Birth/Age :	01.01.1946
Date of Appointment :	01.04.2010
PAN No.:	AAFPD7436C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.08.2012

Names of Shareholders	No. of Shares
Directors and Their Relatives
Tapas Chatterjee	11920271
Rekha Banerjee	2488850
Gautam Banerjee	6870754
Dola Chatterjee	4594111
Rama P. Banerjee	4256948
Putul Banerjee	2856675
Tanmoy Chatterjee	2866526
Deepanjan Banerjee	1970690
Shreya Banerjee	1542053
Piyal Chatterjee	2010450
Sohini Chaterjee	1037526
Ila Chaterjee	176417
Namita Chakraborty	277862
R. N. Chaterjee	24960
Gita Chaterjee	16640
Total A	42910733
Others
Deepak Banerjee	41931
Shymal Banerjee	74880
S K Chatterjee	37115
Shankar Chatterjee	35581
Falguni Banerjee	47944
Mita Chatterjee	41561
Lila Chatterjee	34619
Anil Chatterjee	8320
Ashok Kr. Mukherjee	83200
Amit Dey	3250
Debashis Dey	3250
Anup Mukherjee	7150
Swaraj Banerjee	13000
Ajay Chatterjee	6500
Saukat Ali	6500
Mahip Bhatia	3250
Chanda Sur	31616
Total B	479667
Total A + B	43390400

Equity Share Break up (Percentage of Total Equity)

As on 25.08.2012

Category	Percentage
Directors or relatives of directors	98.89
Other top fifty shareholders	1.11
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Dairy Food-Processing, Plants and Equipment Pharmaceutical, Chemical Plants and Equipment.

Products :

Item Code No.	Product Description
84195010	Evaporators, Dryers, Engineering Goods

Industrial Evaporators

• Falling Film Evaporators
• Forced Circulation Evaporators
• Scrapped Surface Evaporators

Industrial Dryers

• Spray Dryers
• Fluid Bed Dryers
• Band Dryers
• Spin Flash Dryers
• Steam Tube Dryers

Dairy Industry

• Milk Powder Plants
• Evaporated Milk Plants

Food Processing Industry

• Refined Iodized Free Flowing Salt Plants
• Honey Processing Plants
• Instant Coffee Plants
• Egg Powder Plants

Fruit and Vegetable Processing Industry

• Fruit Processing Plants
• Fruit Juice Powder Plants
• Fruit and Vegetable Dehydration Plants
• Tomato Paste and Ketchup Plants

Chemical Industry

• Herbal Extraction Plants
• Vegetable Dye Plants
• Detergent Powder Plants

Effluent Treatment Plants

• Molasis Based Distilleries
• Grain Based Distilleries
• Textile Dyeing Industry
• Pharmaceutical Industry
• Paper Industry
• Common Effluent Treatment Plants

Exports :

Products :

• Dairy Food-Processing
• Pharmaceutical
• Chemical Plants and Equipment
• Raw Materials.

Countries :

• Europe
• Africa
• South East Asia

Imports :

Products :

• Raw Materials

Countries :

• USA
• Maxico

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

500 (Approximately)

Bankers :

State Bank of India, Commercial Branch Vardhman Trade Centre, Plot No. 3 & 4,2nd Floor, DDA Building, Nehru Place, New Delhi - 110019, India

Facilities :

Working Capital : Rs.100.000 Millions (From State Bank of India)

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long-term Borrowings
Term loans from banks ( Secured by first charge on entire Fixed Assets accquired out of bank finance and equitable mortgage of certain Fixed Assets and Current Assets )	40.316	26.220
Loans taken for vehicles (Secured against hypothecation of Cars)	3.747	2.965
Short-term borrowings
Working capital loans from banks	15.248	48.278
Loans repayable on demand	12.931	0.000
Total	72.242	77.463

Banking Relations :
Auditors :
Name :	Kumar Pankaj and Company Chartered Accountants
Address :	203, Amrit Chamber, 78-79 Scindia House, Connaught Place, Janpath, New Delhi – 110001, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAEPK8977E

CAPITAL STRUCTURE

AFTER 25.08.2012

Authorised Capital : Rs.505.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 503.329 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50500000	Equity Shares	Rs.10/- each	Rs.505.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
43390400	Equity Shares	Rs. 10/- each	Rs.433.904 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	433.904	433.904
(b) Reserves & Surplus	880.094	811.249
(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)	1313.998	1245.153
(3) Non-Current Liabilities
(a) long-term borrowings	51.741	38.047
(b) Deferred tax liabilities (Net)	8.762	8.366
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	60.503	46.413
(4) Current Liabilities
(a) Short term borrowings	28.178	48.278
(b) Trade payables	99.563	135.077
(c) Other current liabilities	246.280	213.712
(d) Short-term provisions	51.180	49.171
Total Current Liabilities (4)	425.201	446.238
TOTAL	1799.702	1737.804
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	805.573	790.827
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	46.248	13.066
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.025	0.025
(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	851.846	803.918
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	467.788	487.333
(c) Trade receivables	348.689	337.940
(d) Cash and cash equivalents	38.498	29.253
(e) Short-term loans and advances	78.383	53.987
(f) Other current assets	14.498	25.373
Total Current Assets	947.856	933.886
TOTAL	1799.702	1737.804

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		433.904
2] Share Application Money		0.000
3] Reserves & Surplus		751.487
4] (Accumulated Losses)		0.000
NETWORTH		1185.391
LOAN FUNDS
1] Secured Loans		126.279
2] Unsecured Loans		0.000
TOTAL BORROWING		126.279
DEFERRED TAX LIABILITIES		3.356
TOTAL		1315.026
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		765.347
Capital work-in-progress		11.603
INVESTMENT		0.035
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	363.353
	Sundry Debtors	306.232
	Cash & Bank Balances	21.655
	Other Current Assets	0.000
	Loans & Advances	62.538
Total Current Assets		753.778
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	90.265
	Other Current Liabilities	96.438
	Provisions	29.034
Total Current Liabilities		215.737
Net Current Assets		538.041
MISCELLANEOUS EXPENSES		0.000
TOTAL		1315.026

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income			752.412
		Other Income			6.501
		TOTAL	1202.135	859.870	758.913
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	1084.466	750.708	657.189
	PROFIT BEFORE TAX		117.669	109.162	101.724
Less	TAX		24.396	27.008	15.194
	PROFIT AFTER TAX		93.273	82.154	86.530
	EARNINGS IN FOREIGN CURRENCY
	Export Earnings		139.134	117.652	107.249
	TOTAL EARNINGS		139.134	117.652	107.249
	IMPORTS		49.795	16.308	24.918
	Earnings Per Share (Rs.)		2.17	1.89	1.99

Particulars	31.03.2013
Sales Turnover (Approximately)	1600.000

Expected Sales (2013-2014): Rs.1750.000 Millions

The above information has been parted by Mr. Dev Kumar (Account Manager)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	7.76	9.55	11.40
Net Profit Margin (PBT/Sales)	(%)	NA	NA	13.52
Return on Total Assets (PBT/Total Assets}	(%)	6.54	6.28	6.70
Return on Investment (ROI) (PBT/Networth)		0.09	0.09	0.09
Debt Equity Ratio (Total Debt /Networth)		0.06	0.07	0.011
Current Ratio (Current Asset/Current Liability)		2.23	2.09	3.49

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	Yes
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 19 DLF Industrial Area, Farida Bad, Haryana, India, to the present address w.e.f. 15.01.2010

UNSECURED LOAN

PARTICULAR	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long-term Borrowings
Deferred sales tax loan	7.677	8.862
Total	7.677	8.862

BUSINESS OVERVIEW

The Company started the year with Rs 1200.000 Millions worth orders in hand for execution by September 2012. The company also expects another Rs.1500.000-2000.000 Millions orders during the current year. As such current year’s target for sales is being kept at Rs. 2000.000 Millions. The company has successfully exported a few projects which are performing well giving the company a good name in the international market. The Directors foresee a good growth pattern for the company both in domestic and international market and aims to be the leader of the market.

FUTURE OUTLOOK

The Company has created a niche market in the Instant Tea and Coffee Plant segment. It has already received several export orders in this segment and expects a few more. Apart from that SSP has got an entry in the starch processing segment and hope to receive several orders.

In addition to Effluent treatment plants the Company will be focusing on Dairy and Food processing sector as well where lot of growth is expected.

However, in view of the signs of slowdown in the overall industrial growth of the country, we need to keep a close watch on the market.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U29219HR1985PTC021129
Name of the company	S S P PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	13, Mile Stone, Mathura Road, Faridabad - 121003, Haryana, India Email: info@sspindia.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90033206
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Floating charge · Current and Fixed Assets
Particular of charge holder	CIN: U29219HR1985PTC021129 State Bank of India, Commercial Branch Vardhman Trade Centre, Plot No. 3 and 4,2nd Floor, DDA Building, Nehru Place, New Delhi - 110019, India Email: vikas.k@sbi.co.in
Nature of instrument creating charge	C-2A( Supplemental Agreement of Hypothecation of Goods and Assets for Increase in the overall Limit ) C-5 ( Letter regarding the grant of Individual Limits within the overall Limit ) Copy of Recital
Date of instrument Creating the charge	04.01.2013
Amount secured by the charge	Rs.482.800 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC: BR+2.50%,TL-I and II : BR+2.85%, SLC TL:BR+3.85% and CL :BR+2.60% applicable rate or such other rate(s) specified by the bank from time to time . Terms of Repayment Working capital :- on demand Existing TLs I,II,SLC TL:- As per existing repayment schedule. CL:-Repayable in 36 equal monthly installments from the date of disbursement after a moratorium of 12 months. Interest shall be payable as and when due. Margin Stocks -25% EPC-10% Receivables -40% ( Cover period 120 Days ) LC and BG-10% Extent and Operation of the charge 100% First exclusive charge Others 100% interchangeability between LC/BG limits is proposed .
Short particulars of the property or asset(s) charged (including complete address and location of the property)	WC :-First charge on the co's entire current assets including hypothecation of all stocks of raw-material , stores , spares, stock in process , finished goods etc. lying in factory ,godowns, elsewhere and including goods in transit, and all book-debts / receivables both present and future .Extension of charge over entire fixed assets of the company including EM of the immovable property . Term Loans ,SLC TL and CL:-First charge on entire fixed assets of the company , present and future including equitable mortgage of :- (1)Plot no. 19 DLF Industrial Area-II , 13/4 Village Sarai Khwaja, Mathura Road Faridabad (Hrayana) (2) B-109, MIDC Butibori, Village Umari, Taluka Hinga, Distt- Nagpur (Maharashtra) (3)Factory land and building at plot no. 28 , khasra no.27/22 and 27/19 Gurukul Indraprastha Sarai Khwaja Industrial Area , 12/6 19th Milestone Mathura Road NH-2 Faridabad. (4)Factory land and building at plot no 38 and 29, killa no 11/1 and 11/15,Sarai Khwaja, 13 Milestone Mathura Road, Faridabad (5) Factory land and building at plot no. C-60A ,Eldeco Sidcul Industrial Park phase -III at Sitarganj Uttranchal . (6) Factory land and building at khasra no. 13/1,14,17,24,2/2, 3/2,8/2,8/1,7/2, 15,16, 12,8,9/1, 13/2,18, 23,25,21/1,1/1,5,4 Village Chandpur ,Gharora , Chandpur Road Tehsil Ballabhgarh Faridabad (7)Factory land and building at B-127/2, B-128/2 MIDC Butibori, Village Umari, Taluka Hinga, Distt- Nagpur (Maharashtra). (8) Company building at Sitarganj. (9) Guest house at Kolkatta. together with all fixed plant and machinery , infrastructures thereon both present and future . Extension of charge on entire current assets of the company both present and future.
Particulars of the present modification	Credit facilities sanctioned to the company now enhanced from Rs.438.100 Millions to Rs. 482.800 Millions as under :- CC(stocks and Book-debts) Rs.75.000 Millions, CC(WCDL/FCNRB/EPC) Rs.(75.000) Millions TL-I Rs.28.800 Millions, TL-II Rs.16.500 Millions, Vehicle loan Rs.0.400 Million, SLC TL Rs.12.100 Millions CL (Fresh) Rs.60.000 Millions LC-Rs.20.000 Millions BG Rs.250.000 Millions Forward contract Rs. 20.000 Millions Total Rs.482.800 Millions

CONTINGENT LIABILITIES (AS ON 31.03.2012):

Guarantees and Letter of Credit issued by bank on behalf of the company as on 31st March, 2012 stands for Rs.1820360 Millions

FIXED ASSETS

Tangible assets

• Land
• Buildings
• Office building
• Factory building
• Plant and equipment
• Factory equipments
• Furniture and fixtures
• Vehicles
• Motor vehicles
• Office equipment
• Computer equipments
• Other equipments

PRESS RELEASES

TWIN WIN FOR SSP PRIVATE LIMITEDAT ET NOW-INDIAMART LEADERS OF TOMORROW AWARDS 2012

SSP Private Limited announced 'SME of the Year 2012' and Leader of Tomorrow - Engineering Products category

Chief Guest Mr. Anand Sharma and Guest of Honour Mr. Sunil Bharti Mittal felicitate Mr. Tapas Chatterjee, MD of the company

New Delhi, 10th January, 2013: The night could not have turned out to be more perfect for SSP Private Limited as the company was announced Leader of Tomorrow in Engineering Products category and also SME of the Year at the grand felicitation ceremony of ET NOW-IndiaMART Leaders of Tomorrow Awards 2012 held at Taj Palace in the capital recently. Mr. Tapas Chatterjee, Managing Director, SSP Private Limited received the much coveted Award from the Chief Guest Mr. Anand Sharma and Guest of Honour Mr. Sunil Bharti Mittal. It was a fitting tribute to the hard work and efforts of Mr. R. P. Banerjee who laid the foundation stone of the company way back in 1977 which is being successfully led by its Managing Director Mr. Tapas Chatterjee. Named the winner in two categories, SSP Private Limited emerged victorious amongst a host of nominations after facing two tough Jury rounds.

Congratulating SSP Private Limited on the win, Mr. Dinesh Agarwal, Founder and CEO, IndiaMART.com, said, “I would like to extend heartiest congratulations to SSP Private Limited on the twin win. They symbolise what budding entrepreneurs aspire for. Their passion and relentless efforts to create a successful growth chart for their company is an inspiration to many. Recognised among a deluge of nominations that Leaders of Tomorrow garnered this year, I am sure the win must be all the more special.”

Delighted at being bestowed with the prestigious Award, Mr. Tapas Chatterjee, Managing Director, SSP Private Limited, said, “We are really honored by the prestigious award conferred to us by ET NOW and IndiaMART.com. We are thankful to the organizers as well as eminent jury members for selecting our company as the SME of the Year 2012 and “Leader of Tomorrow” in the engineering products category. This recognition will encourage our company to take the technological advancement to a new height.”

SSP Private Limited is a leading manufacturer, exporter, technology developer and turnkey projects and equipment supplier for dairy processing industry, food and fruit processing industry, chemical processing industry while with respect to Green Technology, SSP is a leading technology provider and manufacturer of zero liquid discharge effluent treatment plant for various industries. It caters to need based industrial solution and has been serving the nation for the last 35 years. Today, SSP has four manufacturing units with a total of over 500 manpower. Moreover, latest production facilities of the latest generation are used in these manufacturing units.

About IndiaMART.com

IndiaMART.com is India's largest online B2B marketplace for Small and Medium Size Businesses, connecting global buyers with suppliers. The company offers a platform and tools to over 1.2 million suppliers to generate business leads from over 6.5 million buyers, who use the platform to find reliable and competitive suppliers. The company has over 2800 employees located across 60+ offices in the country. Its existing investors include Intel Capital and Bennett, Coleman and Company Limited.

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.63.79
UK Pound	1	Rs.100.73
Euro	1	Rs.84.67

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.