MIRA INFORM REPORT

Report Date :

26.09.2011

IDENTIFICATION DETAILS

Name :	REFRACAST METALLURGICALS PRIVATE LIMITED
Registered Office :	A-23, Industrial Area, Birgaon, Raipur – 493 221, Chhattisgarh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	04.07.1995
Com. Reg. No.:	10-9655
Capital Investment / Paid-up Capital :	Rs.13.590 Millions
CIN No.: [Company Identification No.]	U24121CT1995PTC009655
TAN No.: [Tax Deduction & Collection Account No.]	JBPR00905C
PAN No.: [Permanent Account No.]	AABCR4431J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Chemicals, Ferro Alloy and Refractory Products
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 390000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

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

LOCATIONS

Registered Office/Factory :	A-23, Industrial Area, Birgaon, Raipur – 493 221, Chhattisgarh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	skjainryp@gmail.com
Website :	www.refmet.org
Correspondence Office :	Disha Crown, Katchna Road, Shankar Nagar, Raipur – 492 007, Chhattisgarh, India
Tel. No.:	91-771-4035300-304
Fax No.:	91-771- 4035393
E-Mail :	refmet@hotmail.com arnab.refmet@gmail.com duraikkannu@rediffmail.com

DIRECTORS

As on 30.09.2010

Name :	Mr. Surendra Kumar Jain
Designation :	Director
Address :	B-4, Anupam Nagar, Raipur – 492 007, Chhattisgarh, India
Date of Birth/Age :	15.12.1959
Date of Appointment :	14.07.1995
DIN No.:	00251945

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U31300CT1989PTC005547	Surya Wires Private Limited	Managing director	18-10-89	18-10-89	Active	NO
2	U65923OR1993PTC003283	Shanti Finance And Property Development Private Limited	Director	17-03-93	17-03-93	Active	NO
3	U24121CT1995PTC009655	Refracast Metallurgicals Private Limited	Director	14-07-95	14-07-95	Active	NO
4	U72200CT2000PTC014254	Disha Online Private Limited	Director	02-06-00	02-06-00	Active	NO
5	U52520CT2000PTC014410	Disha Vision Private Limited	Director	12-04-11	03-10-00	Active	NO
6	U73200CT2000PTC014421	Disha Hitech Systems Private Limited	Director	16-05-11	09-10-00	Active	NO
7	U72900CT1999PTC013621	Disha Infoway India Private Limited	Director	01-04-01	01-04-01	Active	NO
8	U51109WB1989PTC046961	Polynesia Commerce Private Limited	Director	07-02-02	07-02-02	Active	NO
9	U45202WB1993PTC057703	Kiran Consortium Trade Private Limited	Director	03-05-02	03-05-02	Active	NO
10	U51109WB1994PTC061866	Varsha Sales Promotion Private Limited	Director	03-05-02	03-05-02	Active	NO
11	U26921CT2003PTC015893	Refmet Technologies Private Limited	Director	30-06-11	18-06-03	Active	NO
12	U45209WB2004PTC098742	Pancham Sales Private Limited	Director	08-06-04	08-06-04	Active	NO
13	U70101WB2005PTC101742	Disha Highrise Private Limited	Director	16-02-05	16-02-05	Active	NO
14	U70101WB2005PTC101738	Disha Towers Private Limited	Director	16-02-05	16-02-05	Active	NO
15	U74140WB2004PTC098809	Sanskar Consultancy Private Limited	Director	15-06-05	15-06-05	Active	NO
16	U70101WB2005PTC101734	Disha Abasan Private Limited	Director	13-08-05	13-08-05	Active	NO
17	U51909WB2005PTC105614	Sylva Goods Private Limited	Director	26-09-05	26-09-05	Active	NO
18	U51909WB2005PTC105612	Forum Goods Private Limited	Director	12-04-11	26-09-05	Active	NO
19	U51909WB2005PTC105841	Rainbow Dealers Private Limited	Director	06-10-05	06-10-05	Active	NO
20	U27109WB2005PTC105849	Refchem Trade(India) Private Limited	Director	06-10-05	06-10-05	Active	NO
21	U27109WB2005PTC105842	Refracast Commerce (India) Private Limited	Director	06-10-05	06-10-05	Active	NO
22	U51909WB2004PTC098792	Bestway Distributors Private Limited	Director	10-10-05	10-10-05	Active	NO
23	U51909WB1996PTC078286	Bulk Trade Private Limited	Director	05-12-05	05-12-05	Active	NO
24	U27109WB2006PTC107976	Disha Global Private Limited	Director	15-02-06	15-02-06	Active	NO
25	U51109WB2008PTC122096	Aishwarya Vanijya Private Limited	Director	31-01-08	31-01-08	Active	NO
26	U14200CT2010PTC021553	Kunal Minerals Private Limited	Director	14-01-10	14-01-10	Active	NO
27	U80302CT2011NPL022596	Disha Education	Director	28-07-11	28-07-11	Active	NO

Name :	Mr. Arnab Roy
Designation :	Director
Address :	32, New Jalbihar Colony, Raipur – 492 001, Chhattisgarh, India
Date of Birth/Age :	29.07.1962
Date of Appointment :	01.04.1996
DIN No.:	00251974

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	U24121CT1995PTC009655	Refracast Metallurgicals Private Limited	Director	01-04-96	01-04-96	-	Active	NO
2	U72900CT1999PTC013621	Disha Infoway India Private Limited	Director	01-01-00	01-01-00	-	Active	NO
3	U72200CT2000PTC014254	Disha Online Private Limited	Director	02-06-00	02-06-00	-	Active	NO
4	U73200CT2000PTC014421	Disha Hitech Systems Private Limited	Director	09-10-00	09-10-00	05-03-10	Active	NO
5	U51109WB1994PTC061866	Varsha Sales Promotion Private Limited	Director	03-05-02	03-05-02	-	Active	NO
6	U52520CT2000PTC014410	Disha Vision Private Limited	Director	23-05-02	23-05-02	05-03-10	Active	NO
7	U26921CT2003PTC015893	Refmet Technologies Private Limited	Director	18-06-03	18-06-03	-	Active	NO
8	U65923OR1993PTC003283	Shanti Finance And Property Development Private Limited	Director	26-08-03	26-08-03	-	Active	NO
9	U70101WB2005PTC101741	Aishwarya Towers Private Limited	Director	16-02-05	16-02-05	-	Active	NO
10	U45203WB2005PTC101767	Aishwarya Highrise Private Limited	Director	17-02-05	17-02-05	-	Active	NO
11	U51909WB2005PTC105707	Calico Dealers Private Limited	Director	30-09-05	30-09-05	-	Active	NO
12	U51909WB2005PTC105709	Martin Dealers Private Limited	Director	30-09-05	30-09-05	-	Active	NO
13	U51909WB2005PTC105708	Truant Goods Private Limited	Director	30-09-05	30-09-05	-	Active	NO
14	U27109WB2005PTC105849	Refchem Trade(India) Private Limited	Director	06-10-05	06-10-05	-	Active	NO
15	U27109WB2005PTC105842	Refracast Commerce (India) Private Limited	Director	06-10-05	06-10-05	-	Active	NO
16	U51909WB1996PTC078286	Bulk Trade Private Limited	Director	05-12-05	05-12-05	-	Active	NO
17	U27109WB2006PTC107976	Disha Global Private Limited	Director	20-02-06	20-02-06	05-05-10	Active	NO
18	U14219WB2006PTC111459	Eastern Ghat Minerals Private Limited	Director	03-10-06	03-10-06	-	Active	NO
19	U27107MH2008PTC182591	Reflux Metals And Alloys Private Limited	Director	22-05-08	22-05-08	-	Active	NO
20	U51311OR1988PTC002019	Indicom Minerals And Metals Private Limited	Director	18-08-08	18-08-08	-	Active	NO
21	U45200CT2010PTC021739	Ash Roy Housing Private Limited	Director	15-04-10	15-04-10	-	Active	NO
22	U45200CT2010PTC021751	Ash Roy Real Estate Private Limited	Director	20-04-10	20-04-10	-	Active	NO

Name :	Ms. Ishita Roy
Designation :	Director
Address :	32, New Jalbihar Colony, Raipur – 492 001, Chhattisgarh, India
Date of Birth/Age :	10.03.1966
Date of Appointment :	01.10.1998
DIN No.:	00271124

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U24121CT1995PTC009655	Refracast Metallurgicals Private Limited	Director	01-10-98	01-10-98	Active	NO
2	U51109WB1994PTC061866	Varsha Sales Promotion Private Limited	Director	03-05-02	03-05-02	Active	NO
3	U70101WB2005PTC101741	Aishwarya Towers Private Limited	Director	16-02-05	16-02-05	Active	NO
4	U45203WB2005PTC101767	Aishwarya Highrise Private Limited	Director	13-08-05	13-08-05	Active	NO
5	U51909WB2005PTC105707	Calico Dealers Private Limited	Director	30-09-05	30-09-05	Active	NO
6	U51909WB2005PTC105709	Martin Dealers Private Limited	Director	30-09-05	30-09-05	Active	NO
7	U51909WB2005PTC105708	Truant Goods Private Limited	Director	30-09-05	30-09-05	Active	NO
8	U45200CT2010PTC021739	Ash Roy Housing Private Limited	Director	15-04-10	15-04-10	Active	NO
9	U45200CT2010PTC021751	Ash Roy Real Estate Private Limited	Director	20-04-10	20-04-10	Active	NO

Name :	Mr. Vijay Kumar Agrwal
Designation :	Director
Address :	A-11, Rajiv Nagar, Raipur – 492 001, Chhattisgarh, India
Date of Birth/Age :	19.06.1955
Date of Appointment :	01.04.1997
DIN No.:	00273465

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	U31300CT1986PTC003504	Sona Wires Private Limited	Managing director	05-09-86	05-09-86	01-07-11	Active	NO
2	U24121CT1995PTC009655	Refracast Metallurgicals Private Limited	Director	01-04-97	01-04-97	01-07-11	Active	NO
3	U72900CT1999PTC013621	Disha Infoway India Private Limited	Director	01-04-01	01-04-01	01-07-11	Active	NO
4	U51109WB1994PTC061866	Varsha Sales Promotion Private Limited	Director	03-05-02	03-05-02	01-07-11	Active	NO
5	U52520CT2000PTC014410	Disha Vision Private Limited	Director	12-04-11	10-01-03	01-07-11	Active	NO
6	U73200CT2000PTC014421	Disha Hitech Systems Private Limited	Director	12-04-11	10-01-03	01-07-11	Active	NO
7	U72200CT2000PTC014254	Disha Online Private Limited	Director	25-03-03	25-03-03	01-07-11	Active	NO
8	U65923OR1993PTC003283	Shanti Finance And Property Development Private Limited	Director	14-07-03	14-07-03	20-09-08	Active	NO
9	U51909WB1996PTC078286	Bulk Trade Private Limited	Director	05-12-05	05-12-05	01-07-11	Active	NO
10	U14219WB2006PTC111459	Eastern Ghat Minerals Private Limited	Director	26-10-06	26-10-06	18-09-08	Active	NO
11	U26921CT2003PTC015893	Refmet Technologies Private Limited	Director	18-05-09	18-05-09	01-07-11	Active	NO
12	U27109WB2006PTC107976	Disha Global Private Limited	Director	05-05-10	05-05-10	01-07-11	Active	NO
13	U51909WB2005PTC105612	Forum Goods Private Limited	Director	12-04-11	12-04-11	01-07-11	Active	NO

KEY EXECUTIVES

Name :	Ms. Mini Agarwal
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Mr. Surendra Kumar Jain	25500
Arnab Roy	41000
Ishita Roy	32000
Vijay Agrawal	10000

List of Allotment (As on 04.03.2011)

Names of Allottees	No. of Shares
Kiran Consortium Trade Private Limited, India	60000
Total	60000

List of Allotment (As on 29.10.2010)

Names of Allottees	No. of Shares
Kiran Consortium Trade Private Limited, India	100000
Total	100000

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	87.08
Directors or relatives of directors	12.92
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Chemicals, Ferro Alloy and Refractory Products

Products :

Synthetic Slag for Secondary Steel. Compound for Hot metal de-sulfurisation Active Tundish Flux with turbulence Compound for De-Phosphorisation of steel. Inhibition pad for Tundish Metallurgy Ferro Alloys bearing Ni, Mo, Co, W, V and Cu. Refractory Refractory For Steel melting Shop Dry Ramming Mass Wet Ramming Mass Fettling Mass Gunning Material Hot patching Mass Nozzle Filling Compound (NFC) All kind of castable and precasts including Well Seating Block. For Blast Furnace Shop Tap Hole Clay Trough Mix for Main and Metal Runner

PRODUCTION STATUS (As On 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Unit I
Refrectory Monolthics	Mts	1075.00	--
Precast Shape	Mts	125.00	10.034
Alcon Slag	Mts	1800.00	--
Monolthics	Mts.	--	169.610
Unit II
Synthetic Slag	Mts	2000.00	1430.127
Catalytic Preparation	Mts	300.00	--
Casting Aux	Mts	300.00	--
Refractory Monolthics	Mts	1000.00	36.00
Catalytic Slag	Mts	--	25.000
Processed Minerals	Mts	1800.00	--
Alcon Slag	Mts	3000.00	--
Ferro Alloys	Mts	2000.00	384.535
Cupro Nickle	Mts	1000.00	--
Ferro Metal and alloys Metal	Mts	500.00	--

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Central Bank of India

Fafadih Branch, Raipur, Madhya Pradesh, India

· State Bank of India

Me Sales HUB, SME Branch Premises, Bryon Bazar, Raipur – 492 001, Chhattisgarh, India

· IDBI Bank Limited, Raipur

· ICICI Bank Limited

· HDFC Bank Limited, Raipur

· Central Bank of India, Nagpur

· State Bank of India, Raipur (Unit III)

Facilities :

Secured Loans	As on 31.03.2010 Rs. in millions	As on 31.03.2009 Rs. in millions
Loan from Nationalized Bank
SBI Commercial Branch, Raipur	8.908	56.655
FCNRB Demand Loan	34.037	0.000
Loan From Bank Secured By
a) First Charge on All Fixed Assets of The Companies Present And Future
b) Hypothecation of Stock of Raw Material and Finished Goods and Book Debts
c) Personal Guarantee By Directors of The Company
Other Loans
ICICI Bank Limited, Raipur (Against Hypothecation of Vehicle)	0.276	0.366
HDFC Bank Limited (Against Hypothecation of Car)	4.263	0.000
Magma Leasing Limited, Raipur (Against Hypothecation of Vehicle)	0.095	0.453
Arun Trade Combine, Raipur (Against Hypothecation of Tractor)	0.578	0.750
Total	48.157	58.224

Unsecured Loans	As on 31.03.2010 Rs. in millions	As on 31.03.2009 Rs. in millions
Loan from Companies
Refmet Technology Private Limited, Raipur	0.000	2.911
Kunal Loha Chemical Private Limited, Raipur	0.000	0.071
Bulk Trade Private Limited, Kolkata	9.558	8.126
Total	9.558	11.108

Banking Relations :

--

Auditors :

Name :

Rajendra Prasad

Chartered Accountat

Address :

201/4A-Eskay Plaza, Moudha Para, Raipur – 492 001, Chattisgarh, India

Tel. No.:

91-771-4035802/803

Fax No.:

91-771-4058801

E-Mail :

Rajendra_prasad@ical.org

Related Parties :

· Kiran Consortium Trade (Private Limited) (Company through its subsidiary is controlling the reporting enterprise

· Varsha Sales Promotion Private Limited (Holding Company of the reporting enterprise)

· Bulk Trade Private Limited (Enterprise under common control)

· Refmet Technologies Private Limited (Substantial interest of the holding company of the reporting enterprise.

CAPITAL STRUCTURE

After 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1579000	Equity Shares	Rs.10/- each	Rs.15.790 Millions

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1419000	Equity Shares	Rs.10/- each	Rs.14.190 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1359000	Equity Shares	Rs.10/- each	Rs.13.590 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		13.590	12.990	12.903
2] Share Application Money		0.000	3.000	0.000
3] Reserves & Surplus		84.622	77.454	67.406
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		98.212	93.444	80.309
LOAN FUNDS
1] Secured Loans		48.157	58.224	48.352
2] Unsecured Loans		9.558	11.108	28.415
TOTAL BORROWING		57.715	69.332	76.767
DEFERRED TAX LIABILITIES		0.241	0.341	0.567
SALES TAX DEFERRMENT		3.270	5.462	7.013
TOTAL		159.438	168.579	164.656
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		18.534	14.029	13.281
Capital work-in-progress		1.083	1.084	2.730
INVESTMENT		0.500	0.500	0.500
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	78.052	114.948	89.609
	Sundry Debtors	48.559	33.659	58.603
	Cash & Bank Balances	0.408	0.945	1.110
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	24.296	16.097	18.754
Total Current Assets		151.315	165.649	168.076
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.814	3.497	12.117
	Other Current Liabilities	0.180	0.148	0.848
	Provisions	5.507	9.545	7.473
Total Current Liabilities		12.501	13.190	20.438
Net Current Assets		138.814	152.459	147.638
MISCELLANEOUS EXPENSES		0.507	0.507	0.507
TOTAL		159.438	168.579	164.656

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
SALES
	Income	230.424	205.075	276.043
	Other Income
	TOTAL	230.424	205.075	276.043
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		10.373	11.187	12.062
DEPRECIATION/ AMORTISATION		3.488	2.471	2.485
PROFIT BEFORE TAX		6.875	8.745	9.577
TAX		1.907	2.074	2.070
PROFIT AFTER TAX		4.768	6.636	7.505
Earnings Per Share (Rs.)		3.51	--	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.07	3.24	2.72
Return on Total Assets (PBT/Total Assets}	(%)	4.05	4.87	5.28
Return on Investment (ROI) (PBT/Networth)		0.07	0.09	0.12
Debt Equity Ratio (Total Liability/Networth)		0.71	0.88	1.21
Current Ratio (Current Asset/Current Liability)		12.10	12.56	8.22

LOCAL AGENCY FURTHER INFORMATION

FORM 8

This form is for

Modification of charge

Charge identification number of the modified

90209764

Corporate identity number of the company

U24121CT1995PTC009655

Name of the company

REFRACAST METALLURGICALS PRIVATE LIMITED

Address of the registered office or of the principal place of business in India of the company

A-23, Industrial Area, Birgaon, Raipur – 493 221, Chhattisgarh, India

Type of charge

· Immovable property

· Any interest in immovable property

· Book debts

· Movable property (not being pledge)

· Floating charge

Particular of charge holder

State Bank of India

Me Sales HUB, SME Branch Premises, Bryon Bazar, Raipur – 492 001, Chhattisgarh, India

Nature of description of the instrument creating or modifying the charge

1. SME1 Letter Of Arrangement dated 02.12.2010

2. SME2 Agreement Of Loan Cum Hypothecation dated 03.12.2010

2. SME7 Memorandum For Recording Extension Of Mortgage By Deposit Of Title Deeds dated 04.12.2010

Date of instrument Creating the charge

03.12.2010

Amount secured by the charge

Rs.100.750 millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of interest

For CC 6.50% above base rate and TL 1.5% above SBAR, for both present effective rate 14.10 % p.a.

Terms of repayment

1. Working Capital shall be repayable on demand

2. Term Loan is payable in 30 instalments of Rs.0.025 million PM + INTT

Margin

1. For CC

A Raw Material Semi FG Advance For RM 25%

B Finished Goods and Receivables 30%

2. For LC 15%

Extent and operation of the charge

The charge operates as security inter alia for the due repayment by the company the loans together with payment of all interest additional interest in case of default liquidated damages premium on prepayment reimbursement of all costs charges and expenses and all other obligations payable by the company in respect of the loans in accordance with the terms and conditions of the loan agreement and or other financing documents

Short particulars of the property charged

Extension of EM of Lease hold land admeasuring 51060 Sqft at 20/23 Industrial Area, Birgaon, Raipur CG at Vill Rawabhatta RIC Raipur, Dist Raipur in the name of company

Particulars of the present modification

Limits	Existing	Revised
Cash Credit	70.000	50.000
TL SME Help	0.750	0.750
LC	50.000	50.000
SME CARE	10.000	0.000
Total	130.750	100.750

CONTINGENT LIABILITIES NOT PROVIDED IN THE PROFIT AND LOSS ACCOUNT

Particulars	As on 31.03.2010 Rs. in millions	As on 31.03.2009 Rs. in millions
Letter of Credit	10.000	18.679

FIXED ASSETS

· Lease hold Land

· Factory and office Building

· Plant and Machinery

· Wooden

· Moulds

· Vehicles

· Lab Equipments

· Office Equipments

· Computer

· Furniture

· Car

· Weighting machine

· Diesel Genset

· Air conditioner

· Roasting Furnance

WEB DETAILS

Subject is a research and development oriented Company for manufacture of Metallurgical and Refractory products. It was incorporated in 14.7.95 under Companies, Act 1956 by an innovative group of technocrats at Raipur (capital of newly formed Chhattisgarh state in the central India). "The Company’s endeavor is to increase profitability of their customer by introducing innovative products and concepts and work hand in hand for successful implementation"

Their regular products are as follows :

Ferro Moly, Ferro Nickel, Nickel Moly Alloy, Cobalt Moly Alloy, Moly Tungsten Alloy, Ferro Tungsten, Calcium Molybdate, Synthetic Slag etc.

They are MOEF Registered Re-cycler for Spent Catalyst. They are having environmentally sound management facilities for recycling / re-processing as per the norms of Central and State Pollution Control Board. They are having valid Registration Certificate from the following Government Bodies.

Central Pollution Contol Board, New Delhi , State Pollution Control Board, Raipur, Chhattisgarh C.G.

Shri Arnab Roy, Managing Director of the Company is looking after the marketing of the Finished Goods. Due to his incessant effort and great concept in the eventuality of the present marketing scenario, RMPL is growing further and is successfully achieving the target of every arena and all aspects. Basically the marketing of the products manufactured is being made for the indigenous factories located all over India and abroad having engaged in the process of production of steel and similar products.

Their Esteemed Clientele includes

Essar Steels Limited, Usha Martin Industries Limited, SAIL, Bhilai Steel Plant, SAIL, Research and Development Centre for Iron and Steel, Ranchi, Jindal Steel and Power Limited, Raigarh, Jindal Vijaya Nagar Steels Limited, Bellary, Mukund Steels Limited, Thane and Ginegera, Ispat Industries Limited, Pen, Ferro Alloys Corporation Limited, Nagpur, TISCO Limited, Jamshedpur, Iranian Steel Co. etc.

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.48.82
UK Pound	1	Rs.75.48
Euro	1	Rs.66.10

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
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		45

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.