MIRA INFORM REPORT

Report Date :

03.01.2015

IDENTIFICATION DETAILS

Name :	A B PAL ELECTRICALS PRIVATE LIMITED
Registered Office :	1826 Bhagirath Palace, Chandni Chowk, Delhi – 110006
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	15.06.1995
Com. Reg. No.:	55-069807
Capital Investment / Paid-up Capital :	Rs.29.880 Million
CIN No.: [Company Identification No.]	U74899DL1995PTC069807
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturing of electrical and other appliances, aluminum, copper, PVC etc.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The management has failed to file its financial with government department for the year 2013 and 2014. As per previous financial record of 2012, general financial position of the company seems to be sound. However, trade relations are fair. Business is active. Payments are reported to be unknown. The company can be considered for business dealing 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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	CRISIL
Rating	SME 2
Rating Explanation	High credit worthiness
Date	27.01.2014

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 DENIED BY

Name :	Mr. Avtar Singh
Designation :	Senior Manager Accounts and Taxation
Contact No.:	91-11-43111333
Date :	31.12.2014

LOCATIONS

Registered Office :	1826 Bhagirath Palace, Chandni Chowk, Delhi – 110006, India
Tel. No.:	91-11-43111333 / 23868081
Fax No.:	011-23861189
E-Mail :	gurjeet@abpal.com
Corporate Business Center :	C-159, Lajpat Nagar-2, New Delhi – 110024, Delhi, India
Tel. No.:	91-11-40433333
Fax No.:	91-11-29813100

DIRECTORS

As on 29.09.2012

Name :

Thaker Pal Singh

Designation :

Managing Director

Address :

A-257, New Friends Colony, New Delhi – 110065, Delhi, India

Date of Birth/Age :

28.12.1954

Date of Appointment :

15.06.1995

DIN No.:

01190892

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	U74899DL1995PTC069807	A B PAL ELECTRICALS PRIVATE LIMITED	Managing director	15/06/1996	15/06/1996	-	Active	NO
2	U51109DL2007PTC170792	A. B. P. ENTERPRISES PRIVATE LIMITED	Director	27/11/2007	27/11/2007	01/04/2010	Active	NO

Name :

Davinder Singh

Designation :

Director

Address :

A-257, New Friends Colony, New Delhi – 110065, Delhi, India

Date of Birth/Age :

18.10.1956

Date of Appointment :

15.06.1995

DIN No.:

01014329

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	U74899DL1995PTC069807	A B PAL ELECTRICALS PRIVATE LIMITED	Director	15/06/1995	15/06/1995	-	Active	NO
2	U51109DL2007PTC170792	A. B. P. ENTERPRISES PRIVATE LIMITED	Director	27/11/2007	27/11/2007	01/04/2010	Active	NO

Name :

Gurmeet Singh

Designation :

Director

Address :

A-257, New Friends Colony, New Delhi – 110065, Delhi, India

Date of Birth/Age :

20.12.1960

Date of Appointment :

15.06.1995

DIN No.:

00936532

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	U74899DL1995PTC069807	A B PAL ELECTRICALS PRIVATE LIMITED	Director	15/06/1995	15/06/1995	-	Active	NO
2
U51109DL2007PTC170792	A. B. P. ENTERPRISES PRIVATE LIMITED	Director	27/11/2007	27/11/2007	01/04/2010	Active	NO

Name :

Rasvinder Kaur

Designation :

Director

Address :

A-257, New Friends Colony, New Delhi – 110065, Delhi, India

Date of Birth/Age :

11.03.1955

Date of Appointment :

22.07.2005

DIN No.:

01014323

Name :

Baljeet Kaur Ujagar

Designation :

Director

Address :

A-257, New Friends Colony, New Delhi – 110065, Delhi, India

Date of Birth/Age :

13.04.1961

Date of Appointment :

01.04.2010

DIN No.:

03142113

Name :

Jyotsna Singh

Designation :

Director

Address :

A-257, New Friends Colony, New Delhi – 110065, Delhi, India

Date of Birth/Age :

04.02.1962

Date of Appointment :

01.04.2010

DIN No.:

03142094

KEY EXECUTIVES

Name :	Mr. Avtar Singh
Designation :	Senior Manager Accounts and Taxation

MAJOR SHAREHOLDERS

As on 29.09.2012

Names of Shareholders	No. of Shares	Percentage of Holding
Thaker Pal Singh	305000	10.21
Davinder Singh	1605000	53.71
Gurmeet Singh	410000	13.72
Gurjeet Singh	57000	1.91
Jasmeet Singh	62000	2.07
Simarpreet Singh	101000	3.38
Iqbal Singh	400	0.01
Rasvinder Kaur	195000	6.53
Jyotsna Singh	41000	1.37
Baljeet Kaur	61000	2.04
Manmeet Singh	150600	5.04
Total	2988000	100.00

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of electrical and other appliances, aluminum, copper, PVC etc.

Products :

Item Code No. (ITC Code)	Product Description
76141000	Electrical Cables, Switches, MCBS

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

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

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	Punjab and Sindh Bank
Branch Address	Fatehpuri Branch, Delhi – 110006, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
Loans and advances from directors	42.850	37.442
Other loans and advances	92.074	79.214
SHORT TERM BORROWINGS
Rupee term loans from banks	3.065	4.419
Other loans and advances	1.004	2.457
Total	138.993	123.532

Auditors :
Name :	Waryam Singh and Company Chartered Accountants
Address :	Bharat Ram Road, 40 Daryaganj, Delhi – 110002, India
PAN No.:	AATPS5906Q
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Pal Cables And Conductors, India

CAPITAL STRUCTURE

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/-each	Rs.30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2988000	Equity Shares	Rs.10/-each	Rs.29.880 Million

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	29.880	9.880
(b) Reserves & Surplus	19.103	13.407
(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)	48.983	23.287
(3) Non-Current Liabilities
(a) long-term borrowings	134.924	116.656
(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)	134.924	116.657
(4) Current Liabilities
(a) Short term borrowings	4.069	6.876
(b) Trade payables	626.258	526.294
(c) Other current liabilities	3.076	3.356
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	633.403	536.526
TOTAL	817.310	676.469
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13.429	12.470
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	13.429	12.470
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	112.515	80.629
(c) Trade receivables	661.360	554.652
(d) Cash and cash equivalents	2.443	1.710
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	27.563	27.008
Total Current Assets	803.881	663.999
TOTAL	817.310	676.469

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		4.940
2] Share Application Money		0.000
3] Reserves & Surplus		13.370
4] (Accumulated Losses)		0.000
NETWORTH		18.310
LOAN FUNDS
1] Secured Loans		74.318
2] Unsecured Loans		25.188
TOTAL BORROWING		99.506
DEFERRED TAX LIABILITIES		0.000
TOTAL		117.816
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		9.146
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	70.452
	Sundry Debtors	455.904
	Cash & Bank Balances	3.032
	Other Current Assets	9.493
	Loans & Advances	5.885
Total Current Assets		544.766
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	436.096
	Provisions	0.000
Total Current Liabilities		436.096
Net Current Assets		108.670
MISCELLANEOUS EXPENSES		0.000
TOTAL		117.816

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2012	31.03.2011	31.03.2010
	INCOME	NA	NA	NA
	EXPENDITURE	NA	NA	NA
	DEPRECIATION/ AMORTISATION	2.326	1.987	14.719
	PROFIT/ (LOSS) BEFORE TAX	5.696	4.975	4.685
Less	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	5.696	4.975	4.685
	Earnings / (Loss) Per Share (Rs.)	0.00	0.00	0.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	0.70	0.74	0.84
Return on Investment (ROI) (PBT/Networth)		0.12	0.21	0.25
Debt Equity Ratio (Total Liability/Networth)		2.84	5.30	5.43
Current Ratio (Current Asset/Current Liability)		1.27	1.24	1.24

FINANCIAL ANALYSIS

[All figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	9.880	29.880
Reserves & Surplus	13.407	19.103
Net worth	23.287	48.983
long-term borrowings	116.657	134.924
Short term borrowings	6.876	4.069
Total borrowings	123.533	138.993
Debt/Equity ratio	5.305	2.838

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	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	Yes

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90044797	19/05/2014 *	117,000,000.00	PUNJAB AND SIND BANK	165, CORONATION HOTEL BUILDING, FATEHPURI, Delhi,  Delhi - 110006, INDIA	B73025249
2	90057686	05/09/2002 *	12,000,000.00	PUNJAB AND SIND BANK	FATEHPURI, DELHI, Delhi - 110006, INDIA	-
3	90042816	05/09/2002 *	12,000,000.00	PUNJAB AND SIND BANK	FATEH PURI, DELHI, Delhi, INDIA	-
4	90042667	28/06/2000 *	7,500,000.00	PUNJAB AND SIND BANK	FATEH PURI, DELHI, Delhi - 110006, INDIA	-
5	90042515	01/07/1999	1,000,000.00	PUNJAB AND SIND BANK	FATEHPURI, DELHI, Delhi - 110006, INDIA	-
6	90041972	10/07/1997	1,000,000.00	PUNJAB AND SIND BANK	FATEHPURI, DELHI, Delhi - 110006, INDIA	-
7	90041833	15/01/1997	2,000,000.00	PUNJAB AND SIND BANK	FATEHPURI, DELHI, Delhi - 110006, INDIA	-

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.63.28
UK Pound	1	Rs.98.38
Euro	1	Rs.76.30

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAR
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL

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.