MIRA INFORM REPORT

Report No. :	341276
Report Date :	16.09.2015

IDENTIFICATION DETAILS

Name :	ANSA BRAKES PRIVATE LIMITED
Registered Office :	U-31, Green Park, New Delhi – 110016,
Tel. No.:	91-120-4261844/55/66
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	28.03.2003
Com. Reg. No.:	55-119611
Capital Investment / Paid-up Capital :	Rs. 4.030 Million
CIN No.: [Company Identification No.]	U28999DL2003PTC119611
IEC No.:	0503016721
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECA2082P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of High quality friction material products.
No. of Employees :	8 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (17)

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 an established company incorporated in the year 2003 having moderate track. Management of the company has not filed its financial with the government department for the year 2014. As per Registrar companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2013 but the documents related to the financials for the year 2013, 2012 2011 are not available from any sources. Mr. Tarun (Chartered Accountant) provided information and also confirmed that company is active. However, he denied to disclose financial details. Payments are unknown. The company can be considered for business dealings on safe and secured trade terms and conditions in view non-availability of latest financials.

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, 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

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 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Tarun
Designation :	Chartered Accountant
Contact No.:	91-11-26412600
Date :	16.09.2015

LOCATIONS

Registered Office :	U-31, Green Park, New Delhi – 110016, India
Tel. No.:	91-120-4261844/55/66
Mobile No.:	91-9810112016 (Mr. Sanajy)
Fax No.:	91-120-4261866
E-Mail :	salesQ@ansabrakesgroup.com sanjay@ansabrakesgroup.com ansa@vsnl.com
Website :	www.ansabrakesgroup.com
Location :	Owned
Locality :	Residential
Factory :	C – 20, Phase – 2, Noida – 201301, Uttar Pradesh, India
Overseas Offices :	Located at USA West Africa Dubai

DIRECTORS

As on 30.09.2013

Name :	Mr. Sanjay Anand
Designation :	Director
Address :	U-31, Green Park, New Delhi – 110016, India
Date of Birth/Age :	07.01.1968
Date of Appointment :	28.03.2003
DIN No.:	00119523
Name :	Mrs. Neeru Anand
Designation :	Director
Address :	U-31, Green Park, New Delhi – 110016, India
Date of Birth/Age :	27.06.1968
Date of Appointment :	28.03.2003
DIN No.:	00119578

KEY EXECUTIVES

Name :	Mr. Tarun
Designation :	Chartered Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	%age holding
Sanjay Anand	388000	96.28
Neeru Anand	15000	3.72
Total	403000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of High quality friction material products.
Products :	Brake Lining Roll Lining Brake Block Flat Sheets
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Dubai
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

PRODUCTION STATUS (As On 31.03.2010)

(As certified by the management)

Particulars	Licensed Capacity	Installed Capacity	Actual Production
Brake Lining/ Brake Block	90000 Sets	75000 Sets	702020 Kgs

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 :

Wholesalers, Retailers and End Users

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 :

8 (Approximately)

Bankers :

Bank Name	Bank of Baroda
Branch	International Business Branch, Parliament Street, New Delhi – 110001, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2010	As on 31.03.2009
Car Loan (Secured against hypothecation of respective vehicle and personal guarantee of directors )	1.610	0.000
Bank of Baroda (Secured against hypothecation of stock of raw material, stock-in-process finished stock and all books debts, plant and machinery/vehicle. Crafts, consumable stores and spares both present and future and personal guarantees of Sh. Swinder Singh Anand, Smt. Raminder Kaur, Sh.Sanjay Anand, Smt. Neeru Anand and collateral security of U-31, ground Floor, Green park, New Delhi, India)
Packing Credit	13.421	6.029
Foreign Bill Discounted	61.492	61.270
Total	76.523	67.299

Auditors :
Name :	Muku Associates Chartered Accountants
Address :	D-56, Basement, Amar Colony, Lajpat Nagar – IV, New Delhi – 110024, India
Tel. No.:	91-11-26412600/41608400
Fax No.:	91-11-41854600
E-Mail :	mukuca@airtelmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AABFM1137F
Memberships :	--
Collaborators :	--
Subsidiaries (As on 16.08.2006) :	Ansa Parts FZE (Dubai)

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
403000	Equity Shares	Rs.10/- each	Rs. 4.030 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		4.030	4.030	4.030
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		34.244	30.804	24.199
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		38.274	34.834	28.229
LOAN FUNDS
1] Secured Loans		76.523	67.299	70.241
2] Unsecured Loans		0.077	0.000	0.000
TOTAL BORROWING		76.600	67.299	70.241
DEFERRED TAX LIABILITIES		0.460	0.375	0.329
TOTAL		115.334	102.508	98.799
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		23.102	19.683	18.416
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.226	0.226	0.226
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	26.021	20.537	25.675
	Sundry Debtors	65.695	60.044	53.852
	Cash & Bank Balances	2.887	2.478	0.497
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	13.965	16.423	15.187
Total Current Assets		108.568	99.482	95.211
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	15.408	16.210	14.184
	Other Current Liabilities	0.426	0.671	0.790
	Provisions	0.728	0.000	0.080
Total Current Liabilities		16.562	16.881	15.054
Net Current Assets		92.006	82.599	80.157
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		115.334	102.508	98.799

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009	31.03.2008
	SALES
	Income (Exports)	82.301	105.213	78.862
	Other Income	0.075	0.010	0.295
	TOTAL (A)	82.376	105.223	79.157
Less	EXPENSES
	Consumption of Raw material	52.042	67.137	57.115
	Increase/(Decrease) in the stock	(0.819)	6.856	(5.610)
	Administrative, operational, Selling and Other Expenses	16.811	15.569	12.393
	TOTAL (B)	68.034	89.562	63.898
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	14.342	15.661	15.259
Less	FINANCIAL EXPENSES (D)	6.876	6.101	6.770
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	7.466	9.560	8.489
Less/ Add	DEPRECIATION/ AMORTISATION (F)	3.216	2.874	3.049
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	4.250	6.686	5.440
Less	TAX (H)	0.810	0.081	0.104
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	3.440	6.605	5.336
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	28.183	21.578	16.242
	Balance Carried to the B/S	31.623	28.183	21.578
	EARNINGS IN FOREIGN CURRENCY
	Travelling Expenses	82.301	105.213	76.862
	Total	82.301	105.213	76.862
	IMPORTS
	Raw Materials	4.765	1.987	9.422
	TOTAL IMPORTS	4.765	1.987	9.422
	Earnings / (Loss) Per Share (Rs.)	8.55	16.39	13.24

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2010	31.03.2009	31.03.2008
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Net Profit Margin (PAT / Sales)	(%)	4.18	6.28	6.77
Operating Profit Margin (PBIDT/Sales)	(%)	17.43	14.89	19.35
Return on Total Assets (PBT/Total Assets}	(%)	3.22	5.60	4.78
Return on Investment (ROI) (PBT/Networth)		0.11	0.19	0.19
Debt Equity Ratio (Total Debt /Networth)		2.00	1.93	2.49
Current Ratio (Current Asset/Current Liability)		6.55	5.89	6.32

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2008	31.03.2009	31.03.2010
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	4.030	4.030	4.030
Reserves & Surplus	24.199	30.804	34.244
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	28.229	34.834	38.274
Secured Loan	70.241	67.299	76.523
Unsecured Loan	0.000	0.000	0.077
Total borrowings	70.241	67.299	76.600
Debt/Equity ratio	2.488	1.932	2.001

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2008	31.03.2009	31.03.2010
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	78.862	105.213	82.301
		33.414	(21.777)

NET PROFIT MARGIN

Net Profit Margin	31.03.2008	31.03.2009	31.03.2010
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	78.862	105.213	82.301
Profit	5.336	6.605	3.440
	6.77%	6.28%	4.18%

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)	Yes
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	No
26	Turnover of firm for last three 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

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2010	As on 31.03.2009
Sanjay Anand	0.077	0.000
Total	0.077	0.000

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10320505	18/11/2011	22,500,000.00	Bank of Baroda	International Business Branch, Parliament Street,  New Delhi, Delhi - 110001, INDIA	B26560284
2	10320507	18/11/2011	7,000,000.00	Bank of Baroda	International Business Branch, Parliament Street,  New Delhi, Delhi - 110001, INDIA	B26560813
3	10303010	01/07/2011	35,000,000.00	Bank of Baroda	International Business Branch, Parliament Street,  New Delhi, Delhi - 110001, INDIA	B19115146
4	10250002	08/10/2010	5,000,000.00	Bank of Baroda	International Business Branch, Parliament Street,  New Delhi, Delhi - 110001, INDIA	A98646235
5	10237890	23/10/2010 *	76,400,000.00	Bank of Baroda	International Business Branch, Parliament Street,  New Delhi, Delhi - 110001, INDIA	A98647548
6	10235561	10/07/2010	15,000,000.00	Bank of Baroda	International Business Branch, Parliament Street,  New Delhi, Delhi - 110001, INDIA	A92774850
7	10235407	30/06/2010	4,000,000.00	Bank of Baroda	International Business Branch, Parliament Street,  New Delhi, Delhi - 110001, INDIA	A92688522
8	10205219	23/10/2010 *	1,490,000.00	Bank of Baroda	International Business Branch, Parliament Street,  New Delhi, Delhi - 110001, INDIA	A98647936
9	90050068	15/03/2012 *	115,500,000.00	Bank of Baroda	International Business Branch, Parliament Street,  New Delhi, Delhi - 110001, INDIA	B36808103
10	90049982	19/08/2003	7,500,000.00	BANK OF BARODA	IRB ; PARLIAMENT STREET, NEW DELHI, Delhi, INDIA	-

*Date of charge modification

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	As on 31.03.2010	As on 31.03.2009
Capital Commitment	61.492	61.270
Bank Guarantee	0.090	0.090

FIXED ASSETS

• Plant and Machinery
• Dies and Tools
• Office Equipment
• Computers
• Vehicle
• Furniture and Fixture

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.66.37
UK Pound	1	Rs.102.54
Euro	1	Rs.75.32

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		17

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.