MIRA INFORM REPORT

Report No. :	339263
Report Date :	04.09.2015

IDENTIFICATION DETAILS

Name :	UNITED ENGIFAB PRIVATE LIMITED
Registered Office :	26/73 Back Side, West Punjabi Bagh, Opposite N.C. Jindal Public School, New Delhi-110026
Mob No.:	91-9810833721 (Mr. Ramit Chugh)
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.05.2011
Com. Reg. No.:	55-218998
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U74140DL2011PTC218998
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELU04766G
PAN No.: [Permanent Account No.]	AABCU3102B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Steel Fabrication and also providing services for Platinum Machine Installation.
No. of Employees :	100 (Approximately)

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

Maximum Credit Limit :	USD 2000
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. The rating takes into consideration company’s modest net worth and small scale of operations. External Borrowings of the company seems to be huge. There is unfavorable gap between trade receivables and trade payables. However, trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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

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 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Ramit Chugh
Designation :	Director
Contact No.:	91-9810833721
Date :	02.09.2015

LOCATIONS

Registered Office :	26/73 Back Side, West Punjabi Bagh, Opposite N.C. Jindal Public School, New Delhi-110026, India
Tel. No.:	Not Available
Mobile No.:	91-9810833721 (Mr. Ramit Chugh)
Fax No.:	Not Available
E-Mail :	casks.co@gmail.com ramitchugh@gmail.com
Factory :	Plot No. 139-G, Sector-7, IMT Manesar, Gurgaon-122052, Haryana, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Ramit Chugh

Designation :

Additional Director

Address :

M-45-B, 3rd Floor,, Lajpat Nagar-Ii, New Delhi-110024, Delhi, India

Date of Birth/Age :

22.09.1983

Date of Appointment :

30.09.2014

DIN No.:

02596208

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U28111DL2009PTC191669	UNITED STEEL TECHNOLOGIES PRIVATE LIMITED	Director	29-06-2009	29-06-2009	Active	NO
2	U74140DL2011PTC218998	UNITED ENGIFAB PRIVATE LIMITED	Director	30-09-2014	09-08-2014	Active	NO

Name :

Mr. Neelam Chugh

Designation :

Additional Director

Address :

House No.26, Ground Floor, Road No. 73, West Punjabi Bagh, Delhi- 110026, Delhi, India

Date of Birth/Age :

25.01.1962

Date of Appointment :

30.09.2014

DIN No.:

06945901

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74140DL2011PTC218998	UNITED ENGIFAB PRIVATE LIMITED	Director	30-09-2014	09-08-2014	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Ramit Chugh	3500	35.00
Neelam Chugh	6500	65.00
Total	10000	100.00

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Steel Fabrication and also providing services for Platinum Machine Installation.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	--
Countries :	--
Imports :
Products :	--
Countries :	--
Terms :
Selling :	Cheque
Purchasing :	Cheque

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

End Users and OEMs

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

100 (Approximately)

Bankers :

Bank Name:	State Bank of India
Branch:	Pahargani Branch, New Delhi, 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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Surender KR Singhal and Company Chartered Accountants
Address :	303-304-B, Apra Plaza-B, Plot No.28, Road No.44, Community Centre, Pitam Pura, Delhi-110034, India
Tel. No.:	91-27012573/ 27012574
Mobile No.:	91-9350857062
Fax No.:	91-27012576
E-Mail :	sksinghal@sksinghal.com
Income-tax PAN of auditor or auditor's firm :	AAOFS2572B
Memberships :	--
Collaborators :	--
Related Party :	United Engineers

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	0.458	0.077	(0.046)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	0.558	0.177	0.054
(3) Non-Current Liabilities
(a) Long-term borrowings	10.569	11.069	8.369
(b) Deferred tax liabilities (Net)	0.007	0.008	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	10.576	11.077	8.369
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	15.606	7.142	0.000
(c) Other current liabilities	0.000	0.237	0.017
(d) Short-term provisions	0.544	0.000	0.000
Total Current Liabilities (4)	16.150	7.379	0.017
TOTAL	27.284	18.633	8.440
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	16.849	10.299	8.315
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.015	0.015	0.015
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	16.864	10.314	8.330
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4.770	6.322	0.008
(c) Trade receivables	1.123	1.565	0.000
(d) Cash and cash equivalents	1.394	0.227	0.102
(e) Short-term loans and advances	3.133	0.205	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	10.420	8.319	0.110
TOTAL	27.284	18.633	8.440

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	36.178	15.542	NA
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT AFTER TAX		0.381	0.123	(0.046)
	Earnings Per Share (Rs.)		38.1	12.3	(4.6)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.05	0.79	NA
Debt Equity Ratio (Total Liability/Networth)		18.94	62.54	154.98
Current Ratio (Current Asset/Current Liability)		0.65	1.13	6.47

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	(0.046)	0.077	0.458
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.054	0.177	0.558
Long-term borrowings	8.369	11.069	10.569
Short term borrowings	0.000	0.000	0.000
Total borrowings	8.369	11.069	10.569
Debt/Equity ratio	154.981	62.537	18.941

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	15.542	36.178
		132.776

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	15.542	36.178
Profit	0.123	0.381
	0.79%	1.05%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Unsecured loans form Directors and Relatives and Other Entities
United Engineers	1.100	1.100
Suresh Kumar Chugh	1.139	1.639
R. S. Sandhu	8.330	8.330
Total	10.569	11.069

CORPORATE INFORMATION:

The Company is having its registered office at 26/73, Back Side, West Punjabi Bagh, Opposite N.C. Jindal Public School, New Delhi-110026 .The company is engaged in the business of manufacturing and Work contracts.

FIXED ASSETS:

Tangible Assets

· Land

· Air Conditioner

· Euroair Detox

· Generator

· Printer

· Building

· Machinery

· 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 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. 66.23
UK Pound	1	Rs. 101.22
Euro	1	Rs. 74.33

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	RAS
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.