Information

		Country	India
Company Name	MAP STEELS (INDIA) PRIVATE LIMITED	Principal Name 1	Mr. Manoj Nemani
Status	Satisfactory	Principal Name 2	Mr. Prashant Nemani
		Registration #	04-056155
Street Address	402, Maurya Atria, Near Shraddha Petrol Pump, Near Kasturi Tower, Bodakdev, Ahmedabad – 380015, Gujarat, India
Established Date	16.02.2009	SIC Code	--
Telephone#	91-79-40039130	Business Style 1	Trader
Fax #	Not Available	Business Style 2	Distributor
Homepage	Not Available	Product Name 1	Samsung Mobile
# of employees	Not Available	Product Name 2	Accessories
Paid up capital	Rs. 3,382,500/-	Product Name 3	-
Shareholders	Bodies Corporate- 18.48%, Directors or relatives or director- 81.51%, Other top fifty- 0.01%	Banking	ING Vysya Bank Limited
Public Limited Corp.	No	Business Period	1 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (44)
Related Company
Relation	Country	Company Name
Associates Concern	-	Jai Tripati Steels Private Limited	-
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	110,008,000	Current Liabilities	111,199,000
Inventories	60,790,000	Long-term Liabilities	32,335,000
Fixed Assets	10,812,000	Other Liabilities	5,228,000
Deferred Assets	0,000	Total Liabilities	148,762,000
Invest& other Assets	184,000	Retained Earnings	19,649,000
		Net Worth	33,032,000
Total Assets	181,794,000	Total Liab. & Equity	181,794,000
Total Assets (Previous Year)	-
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	1,071,093,000	Net Profit	9,802,000
Sales(Previous yr)	-	Net Profit(Prev.yr)	-

MIRA INFORM REPORT

Report Date :

14.11.2011

IDENTIFICATION DETAILS

Name :	MAP STEELS (INDIA) PRIVATE LIMITED
Registered Office :	402, Maurya Atria, Near Shraddha Petrol Pump, Near Kasturi Tower, Bodakdev, Ahmedabad – 380015, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	16.02.2009
Com. Reg. No.:	04-056155
Capital Investment / Paid-up Capital :	Rs. 3.383 Millions
CIN No.: [Company Identification No.]	U27109GJ2009PTC056155
TAN No.: [Tax Deduction & Collection Account No.]	AHMM09438C
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Distributor of Samsung Mobile and Accessories.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 129000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a relatively new company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. M.K. Sharma
Designation :	Accountant
Contact No.:	91-79-40039130
Date :	10.11.2011

LOCATIONS

Registered Office :	402, Maurya Atria, Near Shraddha Petrol Pump, Kasturi Tower, Badkadev, Ahmedbad – 380015, Gujarat, India
Tel. No.:	91-79-40039130
Fax No.:	Not Available
E-Mail :	kmshah_ca@hotmail.com mapsteels@gmail.com
Location :	Rented
Branch Office :	Located at Bangalore

DIRECTORS

As on 30.09.2010

Name :

Mr. Manoj Nemani

Designation :

Director

Address :

13/386, 3-A, Civil Lines, Kanpur, India

Date of Birth/Age :

11.10.1980

Date of Appointment :

16.02.2009

DIN No.:

01842350

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U27104UP1992PTC013964	Panem Castings Private Limited	Director	01-01-05	01-01-05	-	Active	NO
2	U45201UP1998PTC023122	Nemani Estates Private Limited	Director	14-05-05	14-05-05	-	Active	YES
3	U27109GJ2009PTC056155	Map Steels (India) Private Limited	Director	16-02-09	16-02-09	-	Active	NO
4	U27100MH2009PTC192501	Jai Tripati Strips And Tubes Private Limited	Director	20-05-09	20-05-09	14-02-11	Active	NO
5	U27100GJ2005PTC045541	Jai Tripati Steels Private Limited	Additional director	12-02-11	12-02-11	-	Active	NO

Name :

Mr. Prashant Praveen Nemani

Designation :

Director

Address :

13/386, 3-A, Civil Lines, Kanpur, India

Date of Birth/Age :

22.04.1987

Date of Appointment :

16.02.2009

DIN No.:

02431808

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U27109GJ2009PTC056155	Map Steels (India) Private Limited	Director	16-02-09	16-02-09	-	Active	NO
2	U27100MH2009PTC192501	Jai Tripati Strips And Tubes Private Limited	Director	20-05-09	20-05-09	14-02-11	Active	NO
3	U27100GJ2005PTC045541	Jai Tripati Steels Private Limited	Additional director	12-02-11	12-02-11	-	Active	NO

Name :

Mr. Siddharth Dhurka

Designation :

Additional Director

Address :

H 81, Shastri Nagar, Jodhpur- 342001, Rajasthan, India

Date of Birth/Age :

27.08.1983

Date of Appointment :

01.08.2009

DIN No.:

02745654

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U51505BR2009PTC014383	Siddharth Supriya Enterprises Private Limited	Director	27-03-09	27-03-09	-	Active	NO
2	U27109GJ2009PTC056155	Map Steels (India) Private Limited	Additional director	01-08-09	01-08-09	-	Active	NO

Name :

Mr. Rakesh Kumar Dhurka

Designation :

Additional Director

Address :

H 81, Shastri Nagar, Jodhpur - 342001, Rajasthan, India

Date of Birth/Age :

02.01.1959

Date of Appointment :

01.08.2009

DIN No.:

02434827

Name :

Mr. Praveen Nemani

Designation :

Additional Director

Address :

13/386, 3-A, Civil Lines, Kanpur – 208001, Uttar Pradesh , India

Date of Birth/Age :

16.06.1960

Date of Appointment :

01.08.2009

DIN No.:

01111455

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U27104UP1992PTC013964	Panem Castings Private Limited	Director	20-01-92	20-01-92	-	Active	NO
2	U45201UP1998PTC023122	Nemani Estates Private Limited	Director	03-02-98	03-02-98	-	Active	YES
3	U27109UP1990PTC012439	Panem Steels Private Limited	Director	01-01-05	01-01-05	-	Active	NO
4	U27100GJ2005PTC045541	Jai Tripati Steels Private Limited	Director	22-02-05	22-02-05	-	Active	NO
5	U27109GJ2009PTC056155	Map Steels (India) Private Limited	Additional director	01-08-09	01-08-09	-	Active	NO

KEY EXECUTIVES

Name :	Mr. M.K. Sharma
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Prashant Nemani	27750
Manoj Nemani	35750
Praveen Nemani	15375
Rakesh Kumar Dhurka	118750
Siddharth Dhurka	25375
Kusum Dhurka	25000
Laxmi Narayan	20210
Shakuntla Agarwal	3750
Yakti Agarwal	3750
Sunil Goyal	10
Sharmila Goyal	10
Shitij Goyal	10
Shivani Goyal	10
Gurukripa Vinimay Private Limited, India	37500
Winter Fresh Foods Private Limited, India	25000
TOTAL	338250

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Bodies corporate	18.48
Directors or relatives of Directors	81.51
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Distributor of Samsung Mobile and Accessories.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

Not Available

Bankers :

• ING Vysya Bank Limited, Gujarat, India
• State Bank of India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
State Bank of India (Secured by primary charge over entire current assets of the company and EM over land at Hindpur and personal guarantee of all directors of the company)	16.218	0.000
Total	16.218	0.000
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Promoters, Directors, Shareholder and Relatives	16.117	0.000
Total	16.117	0.000

Banking Relations :	--
Auditors :
Name :	Shah Kantilal and Company Chartered Accountant
Address :	804, Sarap Building. Opposite Navjivan Press, Ashram Road, Ahmedabad – 380014, Gujarat, India
PAN.:	AAMFS3865K
Associates Concern :	Jai Tripati Steels Private Limited S and S Enterprise

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
338250	Equity Shares	Rs.10/- each	Rs. 3.383 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		3.383
2] Share Application Money		10.000
3] Reserves & Surplus		19.649
4] (Accumulated Losses)		0.000
NETWORTH		33.032
LOAN FUNDS
1] Secured Loans		16.218
2] Unsecured Loans		16.117
TOTAL BORROWING		32.335
DEFERRED TAX LIABILITIES		0.028
TOTAL		65.395
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.812
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	60.790
	Sundry Debtors	87.281
	Cash & Bank Balances	15.186
	Other Current Assets	2.123
	Loans & Advances	5.418
Total Current Assets		170.798
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	110.128
	Other Current Liabilities	1.071
	Provisions	5.200
Total Current Liabilities		116.399
Net Current Assets		54.399
MISCELLANEOUS EXPENSES		0.184
TOTAL		65.395

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010
	SALES
		Income	1071.093
		Other Income	1.946
		TOTAL (A)	1073.039
Less	EXPENSES
		Cost of Goods Sold	1035.857
		Employee Cost	13.822
		Selling and Distribution Expenses	5.802
		Preliminary Expenses	0.046
		TOTAL (B)	1055.527
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		17.512
Less	FINANCIAL EXPENSES (D)		2.054
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.458
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.429
	PROFIT BEFORE TAX (E-F) (G)		15.029
Less	TAX (H)		5.227
	PROFIT AFTER TAX (G-H) (I)		9.802
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000
	BALANCE CARRIED TO THE B/S		9.802
	Earnings Per Share (Rs.)
	Basic		28.98
	Diluted		7.32

KEY RATIOS

PARTICULARS		31.03.2010
PAT / Total Income	(%)	0.91
Net Profit Margin (PBT/Sales)	(%)	1.40
Return on Total Assets (PBT/Total Assets}	(%)	8.30
Return on Investment (ROI) (PBT/Networth)		0.45
Debt Equity Ratio (Total Liability/Networth)		4.50
Current Ratio (Current Asset/Current Liability)		1.47

LOCAL AGENCY FURTHER INFORMATION

OPERATION

The company has achieved sales – turnover of Rs. 1071.093 millions. During the year under consideration, the company has made net profit after tax of Rs. 9.802 millions after providing a depreciation of Rs. 0.429 millions.

CONTINGENT LIABILITY

Guarantee given by Bank on behalf of company Rs. 30.000 millions (Against margin deposit of Rs. 6.500 millions)

FORM 8

Corporate identity number of the company	U27109GJ2009PTC056155
Name of the company	MAP STEELS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	402, Maurya Atria, Near Shraddha Petrol Pump, Kasturi Tower, Badkadev, Ahmedbad – 380015, Gujarat, India Email : kmshah_ca@hotmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10298283
Type of charge	Immovable Property
Particular of charge holder	ING Vysya Bank Limited, P.B.No.4038, Chanakya Building, Near Dinesh Hall, Off Asram Road, Ahmedabad – 380009, Gujarat, India Email : roc.charge@gmail.com
Nature of instrument creating charge	Memorandum relating to deposit of title deeds
Date of instrument Creating the charge	20.08.2011
Amount secured by the charge	Rs. 205.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest: CC (Sumsung and Steel Manufacturing Div.): No Change BG: No Change TL-1 and 2: No Change Terms of Repayment : CC (Sumsung and Steel Manufacturing Div.): No Change BG: No Change TL-1 and 2: No Change Margin : CC (Sumsung and Steel Manufacturing Div.): No Change BG: No Change TL-1 and 2: No Change Extent and operation of the charge: CC (Sumsung Div.) limit - Rs.50.000 millions CC (Steel Manufacturing Div.) - Rs.50.000 millions BG limit - Rs.35.000 millions ) TL-1 limit - Rs.50.000 millions TL-2 limit - Rs.20.000 millions Total Exposure - Rs.205.000 millions Exclusive charge on property bearing Survey no. 173 (Part), 178 (Part), 179 (Part) and 273 (Part) of Gollapuram Village, Hindupur Mandal, Anantapur District. AP. Plot No.28, measuring an extent of Ac. 12.50 of land situated at Industrial Park, Gollapuram.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive charge on property bearing Survey no. 173 (Part), 178 (Part), 179 (Part) and 273 (Part) of Gollapuram Village, Hindupur Mandal, Anantapur District. AP. Plot No.28, measuring an extent of Ac. 12.50 of land situated at Industrial Park, Gollapuram
Particulars of the present modification	The total sanction limit of Rs. 205.000 millions is additionally secured by way of mortgage on property bearing Sy no. 173 (Part), 178 (Part), 179 (Part) and 273 (Part) of Gollapuram Village, Hindupur Mandal, Anantapur District. AP. Plot No.28, measuring an extent of Ac. 12.50 of land situated at Industrial Park, Gollapuram.

FIXED ASSETS

• Land and Building
• Office Equipment
• Furniture and Fixture
• Computer
• Vehicle

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 records 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.50.28
UK Pound	1	Rs.80.08
Euro	1	Rs.68.45

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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
TOTAL		44

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.