MIRA INFORM REPORT

Report No. :	315422
Report Date :	03.04.2015

IDENTIFICATION DETAILS

Name :	bharat foam udyog private limited
Registered Office :	1646/47, S. P. Mukherjee Marg, New Delhi - 110006
Country :	India
Financials (as on) :	31.03.2006
Date of Incorporation :	21.07.1972
Com. Reg. No.:	55-006206
Capital Investment / Paid-up Capital :	Rs.1.591 Million
CIN No.: [Company Identification No.]	U74899DL1972PTC006206
TIN No.:	06171200188
TAN No.: [Tax Deduction & Collection Account No.]	RTKB01968B
PAN No.: [Permanent Account No.]	AAACB2870Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Importer of Polyurethane foam, Pu Foam and Articles
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a pretty old and established company and had not filed any financials with the Government departments after 2006 and hence it is very difficult to assess the current position of the company. The management failed to update with latest financials so far. No further details or payment could be made available. The company can be considered for business dealings on fully safe and secured terms, only.

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2014.

INFORMATION DECLINED BY

Name :	Mr. Amit Jain
Designation :	Director
Contact No.:	91-9811058566
Date :	02.04.2015

LOCATIONS

Registered Office :	1646/47, S. P. Mukherjee Marg, New Delhi – 110006, India
Tel. No.:	91-11-2512736 / 2512716 / 23962736
Mobile No.:	91-9910490551 (Mr. K C Jain) 91-9811058566 (Mr. Amit Jain)
ax No.:	91-11-23962736
E-Mail :	info@bharatfoam.com bharatfoam@touchtelindia.net
Website :	http://www.bharatfoam.com http://foampillo.com
Location :	Owned
Factory :	15/4, Mathura Road, Faridabad - 121 003, Haryana, India
Tel. No.:	91-129-129-2276364, 4046365, 4048911, 276365, 278911 4087366-69
Fax No.:	91-129-2277856
E-Mail :	bharatfoam@touchtelindia.net
Area :	Above 150 gaj
Location :	Owned

DIRECTORS

AS ON 30.01.2010

Name :	Mr. Ajit Prasad Jain
Designation :	Director
Address :	House No. 49/8, Rajpur Road, Delhi – 110 054, India
Date of Birth/Age :	26.12.1924
Date of Appointment :	01.08.2000
DIN No.:	02970624

Name :

Mr. Keshab Chandra Jain

Designation :

Managing Director

Address :

House No. 246, Sector 15A, Noida – 201 301, Guttam Budh Nagar, Uttar Pradesh, India

Date of Birth/Age :

11.01.1928

Date of Appointment :

21.07.1972

DIN No.:

00823617

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	U74899DL1972PTC006206	BHARAT FOAM UDYOG PRIVATE LTD	Managing director	21/07/1972	21/07/1972	-	Active	NO
2	U74899DL1981PTC012307	KASP PRODUCTS PRIVATE LIMITED	Managing director	11/09/1981	11/09/1981	-	Active	NO

Name :

Mr. Pawan Kumar Jain

Designation :

Director

Address :

House No. 49/8, Rajpur Road, Delhi – 110 054, India

Date of Birth/Age :

16.03.1937

Date of Appointment :

21.07.1972

DIN No.:

02401429

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	U74899DL1972PTC006206	BHARAT FOAM UDYOG PRIVATE LTD	Director	21/07/1972	21/07/1972	-	Active	NO
2	U74899DL1981PTC012059	FARIDABAD METAL UDYOG PRIVATE LIMITED	Managing director	30/07/1981	30/07/1981	08/02/2012	Active	NO

Name :

Mr. Ved Prakash Khullar

Designation :

Director

Address :

House No. D/1-26, Model Town, Delhi – 110 009, India

Date of Birth/Age :

23.05.1932

Date of Appointment :

17.01.1996

DIN No.:

00999045

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	U24301TN1979PTC007743	JOY FOAM PRIVATE LIMITED	Director	08/06/1979	08/06/1979	-	Active	NO
2	U74899DL1988PTC032073	K SHOES PRIVATE LIMITED	Director	20/03/1990	20/03/1990	-	Active	NO
3	U74899DL1972PTC006206	BHARAT FOAM UDYOG PRIVATE LTD	Director	17/01/1996	17/01/1996	-	Active	NO

Name :

Mr. Amit Jain

Designation :

Director

Address :

House No. 49/2, Raj Pur Road, Delhi – 110 054, India

Date of Birth/Age :

26.07.1954

Date of Appointment :

01.01.1980

DIN No.:

00924618

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	U74899DL1972PTC006206	BHARAT FOAM UDYOG PRIVATE LTD	Director	01/01/1980	01/01/1980	-	Active	NO
2	U74899DL1980PTC011003	SKAGGS AUTO PRODUCTS PVT LTD	Director	31/10/1980	31/10/1980	-	Active	NO
3	U34300DL1976PLC008215	ALLIED PROMOTERS LIMITED	Director	30/09/2010	21/08/2010	-	Active	NO

KEY EXECUTIVE

Name :	Mr. Ramesh
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.01.2010

Names of Shareholders	No. of Shares
K.C Jain	141
R. C Khullar	838
P.K Jain	260
A. P Jain	1100
Bhushan. K. Jain	360
Ravinder K. Jain	440
Virender K. Jain	440
Narender K. Jain	440
Satya Jain	295
Atul Jain	600
Monika Jain	508
Veena Jain	507
Prakash Devi Jain	440
Saraswati Devi Jain	750
Alka Rani Jain	360
Arvind Jain	440
Adarsh Jain	540
Ved Khullar	910
Usha Khullar	162
Ranesh Bala Khullar	90
Sharat Jain	750
M.R Jain Investment Private Limited, India	21
Deepti Jain	360
Ila Jain	360
Alka Amit Jain	1150
Anita Jain	360
Amit Jain	2000
Anjali Jain	100
Chitra Jain	260
Nitin Jain	133
Parag Jain	132
Kaaran Jain	107
Vinay Jain	107
Aditya Jain	447
Total	15908

Equity Share Break up (Percentage of Total Equity)

AS ON 30.01.2010

Category	Percentage
Bodies corporate	0.13
Directors or relatives of directors	99.87
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Importer of Polyurethane foam, Pu Foam and Articles

Products :

Product Description	ITC Code
Pu-Foam-Sheet	3921.11

Brand Names :

“FOAM PILLOW”

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS :NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

· State Bank of India, SIB Branch, 65, Neelam Bata Road, Faridabad – 121 001, Haryana, India

· Canara Bank, Kashmere Gate Branch, Delhi - 110 006, India

Facilities :

(Rs. In Million)

Secured Loan	As on 31.03.2006	As on 31.03.2005
LOAN (STATE BANK OF INDIA)
State Bank of India – FBD CC A/C (Secured against Stock-in-trade)	7.806	1.51
Total	7.806	1.510

Banking Relations :	-
Auditors :
Name :	S. Ramanan Aiyar and Company Chartered Accountants
Address :	708 Surya Kiran, 19 Kasturba Gandhi Marg, New Delhi – 110001, India
Tel No.:	91-11-23319284 / 23311045
PAN No.:	ABJFS9507L
Memberships :	--
Collaborators :	--
Associates/Subsidiaries [AS ON 31.03.2006]:	· Jain Motor Company Private Limited, Delhi, India · Jain Motor Trading Company, Delhi, India · Faridabad Metal Udyog Private Limited, India · Jain Motors Car Company, India · Banmore Foam Private Limited, India

CAPITAL STRUCTURE

AS ON 31.03.2006

Authorised Capital :

No. of Shares	Type	Value	Amount
16000	Equity Shares	Rs.100/- each	Rs.1.600 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15908	Equity Shares	Rs.100/- each	Rs.1.591 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		1.591	1.591
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		30.296	30.269
4] (Accumulated Losses)		0.000	0.000
NETWORTH		31.887	31.860
LOAN FUNDS
1] Secured Loans		7.806	1.515
2] Unsecured Loans		6.295	5.206
TOTAL BORROWING		14.101	6.721
DEFERRED TAX LIABILITIES		2.067	2.226
TOTAL		48.055	40.807
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		19.296	19.120
Capital work-in-progress		0.000	0.000
INVESTMENT		0.013	0.013
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	20.642	17.455
	Sundry Debtors	13.632	9.901
	Cash & Bank Balances	4.400	1.185
	Other Current Assets	0.538	0.477
	Loans & Advances	0.728	1.010
Total Current Assets		39.940	30.028
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.691	3.902
	Other Current Liabilities	0.000	4.277
	Provisions	0.503	0.175
Total Current Liabilities		11.194	8.354
Net Current Assets		28.746	21.674
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		48.055	40.807

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2006	31.03.2005
	SALES
		Turnover	107.407	92.860
		Other Income	NA	NA
		TOTAL	NA	NA
Less	EXPENSES
		TOTAL	NA	NA
	PROFIT BEFORE TAX		0.196	1.943
Less	TAX		NA	NA
	PROFIT AFTER TAX		NA	NA

KEY RATIOS

PARTICULARS		31.03.2006	31.03.2005
Return on Total Assets (PBT/Total Assets}	(%)	0.33	3.95
Return on Investment (ROI) (PBT/Networth)		0.01	0.06
Debt Equity Ratio (Total Liability/Networth)		0.44	0.21
Current Ratio (Current Asset/Current Liability)		3.57	3.59

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2005	31.03.2006
	(Rs. In Million)	(Rs. In Million)
Share Capital	1.591	1.591
Reserves & Surplus	30.269	30.296
Share Application money pending allotment	0.000	0.000
Net worth	31.860	31.887
Secured Loans	1.515	7.806
Unsecured Loans	5.206	6.295
Total borrowings	6.721	14.101
Debt/Equity ratio	0.211	0.442

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2005	31.03.2006
	(Rs. In Million)	(Rs. In Million)
Sales	92.860	107.407
		15.666

NET PROFIT MARGIN

Net Profit Margin	31.03.2005	31.03.2006
	(Rs. In Million)	(Rs. In Million)
Sales	92.860	107.407
Profit	1.943	0.196
	2.09%	0.18%

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	Yes
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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	No
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

UNSECURED LOAN

PARTICULARS	As on 31.03.2006	As on 31.03.2005
	Rs. In Million
From Shareholders	6.295	5.206
Total	6.295	5.206

OPERATIONS: [AS ON 31.03.2006]

I have pleasure to present Directors' Report for the year 2005-06 which may be approved for presentation in the A.G.M., if deemed fit.

Financial results of the company's operation reveal that annual sales of Rs. 107.400 Million were 15.66 percent higher than those of the previous year which was Rs. 92.900 Million.

As a result of higher prices of raw materials and exchange rate variations, the outgo on account of raw materials per kg. was higher at Rs. 97.82 as against R5.35.11 during the previous year.

Gross profit -sale ratio at 3.987 percent was lower than that of the previous year viz 12.64 percent, since selling prices of finished goods could not correspondingly increase to catch up with higher raw material costs due to several market competition, none the less management was able to retain company's share of market during the year. Net profit dipped to Rs.0.196 Million from Rs. 1.943 Million during the previous year.

Interest and bank charges out go during the year was lowest Rs.1.840 Million compared to Rs.1.920 Million during the previous year.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90335641	27/10/2012 *	30,000,000.00	STATE BANK OF INDIA	SME BRANCH, 65NEELAM BATA ROAD, N I T, FARIDABAD,  HARYANA - 121001, INDIA	B62151428

* Date of charge modification

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Furniture and Fixtures

· Electric Installation

· Fax Machines

· Generator

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 records 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.62.59
UK Pound	1	Rs.92.46
Euro	1	Rs.67.51

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	SUM
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		11

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	Unfavourable & favourable factors carry similar weight in credit consideration. 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.