1. Summary Information

		Country	India
Company Name	DEORA SPARES AND COMPONENTS PRIVATE LIMITED	Principal Name 1	Mrs. Maya Deora
Status	Satisfactory	Principal Name 2	Mr. Sudhir Kumar Deora
		Registration #	21-111880
Street Address	133, Cotton Street, 2^nd Floor, Kolkata – 700007, West Bengal
Established Date	22.11.2006	SIC Code	--
Telephone#	91-33-40053290	Business Style 1	Traders
Fax #	Not Available	Business Style 2	Exporters
Homepage	--	Product Name 1	Bearings
# of employees	30 (Approximately)	Product Name 2	--
Paid up capital	Rs.17,606,000/-	Product Name 3	--
Shareholders	Bodies corporate. 58.73% Directors or relatives of directors. 41.27%	Banking	Tamilnad Mercantile Bank Limited
Public Limited Corp.	No	Business Period	8 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (43)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	57,772,000	Current Liabilities	13,209,000
Inventories	25,087,000	Long-term Liabilities	18,666,000
Fixed Assets	159,000	Other Liabilities	000
Deferred Assets	0000	Total Liabilities	31,875,000
Invest& other Assets	432,000	Retained Earnings	33,969,000
		Net Worth	51,575,000
Total Assets	83,450,000	Total Liab. & Equity	83,450,000
Total Assets (Previous Year)	49,872,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	90,000,000	Net Profit	1,833,000
Sales(Previous yr)	NA	Net Profit(Prev.yr)	NA

MIRA INFORM REPORT

Report Date :

28.05.2014

IDENTIFICATION DETAILS

Name :	DEORA SPARES AND COMPONENTS PRIVATE LIMITED
Registered Office :	133, Cotton Street, 2^nd Floor, Kolkata – 700007, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	22.11.2006
Com. Reg. No.:	21-111880
Capital Investment / Paid-up Capital :	Rs.17.606 Millions
CIN No.: [Company Identification No.]	U29130WB2006PTC111880
Legal Form :	Private Limited Liability Company
Line of Business :	Traders and Exporters of Bearings.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 200000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and healthy. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs  has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

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 :	Finance Head
Contact No.:	91-22-28831051
Date :	26.05.2014

LOCATIONS

Registered Office :	133, Cotton Street, 2nd Floor, Kolkata – 700007, West Bengal, India
Tel. No.:	91-33-40053290
Fax No.:	Not Available
E-Mail :	kumarboseroc@gmail.com k_sripal@hotmail.com dinagarwal420@yahoo.com
Corporate Office :	8/16, Narayan Dhru Cross Lane, 4th Floor, Mumbai – 400003, Maharashtra, India
Tel. No.:	91-22-28831051/ 23414299
Fax No.:	91-22-28836769/ 23437732
Warehouse :	Jaimatadi Compound, Kalra, Bhewandi,

DIRECTORS

As on : 30.09.2013

Name :

Mrs. Maya Deora

Designation :

Director

Address :

13A, P.K. Tagora Street, Kolkata – 700006, West Bengal, India

Date of Birth/Age :

10.06.1948

Date of Appointment :

08.06.2009

PAN No.:

AFYPD3818A

DIN No.:

02397595

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	U29130WB2006PTC111880	DEORA SPARES & COMPONENTS PRIVATE LIMITED	Director	08-06-09	08-06-09	-	Active	NO
2	U45400WB2011PTC169865	DEORA BUILDCON PRIVATE LIMITED	Director	24-11-11	24-11-11	-	Active	NO

Name :

Mr. Sudhir Kumar Deora

Designation :

Director

Address :

13 A, P K Tagore Street, Kolkata – 700006, West Bengal, India

Date of Birth/Age :

11.06.1968

Date of Appointment :

22.11.2006

PAN No.:

ADJPD2803Q

DIN No.:

00886881

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	U29130WB2006PTC111880	DEORA SPARES & COMPONENTS PRIVATE LIMITED	Director	22-11-06	22-11-06	-	Active	NO
2	U45400WB2011PTC169865	DEORA BUILDCON PRIVATE LIMITED	Director	24-11-11	24-11-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rahul
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2013

Note: SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	58.73
Directors or relatives of Directors	41.27
Total	100.00

BUSINESS DETAILS

Line of Business :	Traders and Exporters of Bearings.
Imports :
Products :	Raw Materials
Countries :	China
	UK
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

GENERAL INFORMATION

Customers :	Retailers,
No. of Employees :	30 (Approximately)
Bankers :	Tamilnad Mercantile Bank Limited, Goradia House, 1^st Floor, 101-104, Kazi Syed Street, Mandvi, Masjid, Mumbai – 400003, Maharashtra, India

Banking Relations :	---
Auditors :
Name :	Bhalotia and Company Chartered Accountant
Address :	Dream Residency, Rajarhat Main Road Salva, Flat ID, Kolkata – 700135, West Bengal, India
PAN No:	AFUPB3313C

CAPITAL STRUCTURE

As on : 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1900000	Equity Shares	Rs.10/- each	Rs. 19.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1760640	Equity Shares	Rs.10/- each	Rs. 17.606 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	17.606
(b) Reserves & Surplus	33.969
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	51.575
(3) Non-Current Liabilities
(a) long-term borrowings	0.006
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.006
(4) Current Liabilities
(a) Short term borrowings	18.660
(b) Trade payables	10.578
(c) Other current liabilities	2.631
(d) Short-term provisions	0.000
Total Current Liabilities (4)	31.869
TOTAL	83.450
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.157
(ii) Intangible Assets	0.002
(iii) Capital work-in-progress	0.432
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	8.551
(e) Other Non-current assets	0.000
Total Non-Current Assets	9.142
(2) Current assets
(a) Current investments	0.000
(b) Inventories	25.087
(c) Trade receivables	37.832
(d) Cash and cash equivalents	7.727
(e) Short-term loans and advances	3.637
(f) Other current assets	0.025
Total Current Assets	74.308
TOTAL	83.450

SOURCES OF FUNDS		31.03.2012	31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		17.606	7.234
2] Share Application Money		0.000	11.281
3] Reserves & Surplus		32.135	14.362
4] (Accumulated Losses)		0.000	0.000
NETWORTH		49.741	32.877
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.006	0.006
TOTAL BORROWING		0.006	0.006
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		49.747	32.883
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		40.174	22.980
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.435	2.703
	Other Current Assets	0.000	0.000
	Loans & Advances	9.263	9.104
Total Current Assets		9.698	11.807
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.016	0.000
	Other Current Liabilities	0.011	0.142
	Provisions	0.098	1.762
Total Current Liabilities		0.125	1.904
Net Current Assets		9.573	9.903
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		49.747	32.883

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	90.000 (Approximately)	NA	2.267
		Other Income	NA	NA	0.419
		TOTAL	NA	NA	2.686
Less	EXPENSES
		Administrative and Operating Expenses			0.587
		Preliminary Expenses Written off			0.000
		Share Capital Expenses Written Off			0.000
		TOTAL	NA	NA	0.587
	PROFIT BEFORE TAX		NA	NA	2.099
Less	TAX		NA	NA	0.643
	PROFIT AFTER TAX		1.833	NA	1.456
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	2.205
	BALANCE CARRIED TO THE B/S		7.709	NA	3.661
	Earnings Per Share (Rs.)
	-- Basic		1.04	NA	2.01

Particulars	31.03.2014
Sales Turnover (Approximately)	95.000

The above information has been parted by Mr. Rahul (Finance Head)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	NA	54.21
Net Profit Margin (PBT/Sales)	(%)	NA	NA	78.15
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	17.78
Return on Investment (ROI) (PBT/Networth)		NA	NA	0.06
Debt Equity Ratio (Total Debt /Networth)		0.36	0.00	0.000
Current Ratio (Current Asset/Current Liability)		2.33	77.58	6.20

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Share Capital	7.234	17.606	17.606
Reserves & Surplus	14.362	32.135	33.969
Share Application Money	11.281
Net worth	32.877	49.741	51.575
long-term borrowings	0.000	0.000	0.006
Short term borrowings	0.006	0.006	18.660
Total borrowings	0.006	0.006	18.666
Debt/Equity ratio	0.000	0.000	0.362

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	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	No
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

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10161687	05/05/2009	4,000,000.00	TAMILNAD MERCANTILE BANK LIMITED	GORADIA HOUSE, 1ST FLOOR,, 101-104, KAZI SYED STR  EET, MANDVI, MASJID,, MUMBAI, Maharashtra - 400003  , INDIA	A62675921

* Date of charge modification

FINANCIAL RESULTS

During the year, the Company has earned net profit of Rs. 1.833 Millions after adjustment for depreciation and provision for deferred tax assets & current tax liability, Profit of Rs. 7.709 Millions has been carried to Balance Sheet.

Unsecured Loan (Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWINGS
Loans from related parties · From directors	0.006	0.006
Loans and Advances from related party	8.963	0.000
Other Loans and Advances	9.697	0.000
Total	18.666	0.006

FIXED ASSETS

· Furniture and Fixtures

· Plant and Machinery

· Computer

· Vehicles

· Computer 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. 59.05
UK Pound	1	Rs.99.61
Euro	1	Rs.80.60

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAR
Report Prepared by :	SBN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	Yes
--LITIGATION	YES/NO	No
--OTHER ADVERSE INFORMATION	YES/NO	No
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	No
--EXPORT ACTIVITIES	YES/NO	No
--AFFILIATION	YES/NO	No
--LISTED	YES/NO	No
--OTHER MERIT FACTORS	YES/NO	Yes
DEFAULTER
--RBI	YES/NO	No
--EPF	YES/NO	No
TOTAL		43

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.