MIRA INFORM REPORT

Report Date :

16.04.2012

IDENTIFICATION DETAILS

Name :	MINE LINE PRIVATE LIMITED
Registered Office :	23, Indrani, Park PS Tally Gang, Kolkata – 700033, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.10.1996
Com. Reg. No.:	21-081754
Capital Investment / Paid-up Capital :	Rs. 1.000 Million
CIN No.: [Company Identification No.]	U31200WB1996PTC081754
TAN No.: [Tax Deduction & Collection Account No.]	CALM04887B CALM03263B
PAN No.: [Permanent Account No.]	AABCM7949Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and exporter of flameproof mining equipment.
No. of Employees :	150 (Approximately)

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 50000
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 for small business dealing at usual trade terms and condition.

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. Supriyo
Designation :	Executive Assistant
Contact No.:	91-33-24172709
Date :	10.04.2012

LOCATIONS

Registered Office :	23, Indrani Park PS Tally Gang, Kolkata – 700033, West Bengal, India
Tel. No.:	91-33-24172709/ 24178398
Fax No.:	91-33-24228088
E-Mail :	mineline.privatelimited@gmail.com
Website :	http://www.minelineindia.com
Location :	Owned
Factory :	25, Chardi Tata Branch Road, Kolkata – 700053, West Bengal, India

DIRECTORS

As on 30.09.2011

Name :

Mrs. Nandini Chakravarty

Designation :

Director

Address :

23, Indrani Park Kolkata – 700033, India

Date of Birth/Age :

24.06.1955

Date of Appointment :

14.10.1996

DIN No.:

00953626

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	U31200WB1996PTC081754	MINE LINE PRIVATE LIMITED	Director	14/10/1996	14/10/1996	-	Active	NO

Name :

Mr. Birendra Nath Mukerjee

Designation :

Director

Address :

Pashchim Banerjee Para, Makardha – Domjur howrah – 711409, West Bengal, India

Date of Birth/Age :

28.08.1925

Date of Appointment :

14.10.1996

DIN No.:

00953675

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	U31200WB1996PTC081754	MINE LINE PRIVATE LIMITED	Director	14/10/1996	14/10/1996	-	Active	NO
2	U24123WB1998PTC087208	LIEBIGS AGRO CHEM PRIVATE LIMITED	Director	27/05/1998	27/05/1998	-	Active	NO

Name :

Mrs. Sulochana Mukherjee

Designation :

Director

Address :

2, Moore Avenue, Regent Park, Kolkata – 700033, West Bengal, India

Date of Birth/Age :

27.02.1960

Date of Appointment :

14.10.1996

DIN No.:

00979914

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	U31200WB1996PTC081754	MINE LINE PRIVATE LIMITED	Director	14/10/1996	14/10/1996	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Supriyo
Designation :	Excutive Assistant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Birendra Nath Mukerjee	15350
Nandini Chakrboty	55550
Salochana Mukherjee	11000
Madhushree Mukherjee	18100
Total	100000

As on 21.02.2012

List of Allottees

Names of Shareholders	No. of Shares Allotted
Nandini Chakravarty	10000
Malini Chakravarty	5000
Rohan Chakravarty	5000
Total	20000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and exporter of flameproof mining equipment.
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

GENERAL INFORMATION

Suppliers :

Crompton greaves Private Limited

Customers :

Wholesaler, Retailer

· Cod India limited

· Bharat cod limited

No. of Employees :

150 (Approximately)

Bankers :

Indian Overseas Bank, Lansdowne Market Branch, 63/ 1A, Sarat Bose Road, Kolkata – 700025, West Bengal, India

Facilities:

Cash Credit : Rs.20.000 Millions (From Indian Overseas Bank)

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Cash Credit / OD from India Overseas Bank (Secured by hypothecated of stock of Raw Material of Finished Goods, Book debts and Fixed Deposit receipt Personal guarantee of Director	14.340	5.619
Car Loan from IOB	0.107	0.171
Demand Loan from IOB		2.993
Total	14.447	8.783
unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Body corporate	0.035	0.035
Total	0.035	0.035

Banking Relations :	--
Auditors :
Name :	Pratap Singh Surana and company Chartered Accountant
Address :	5 and 6, Fancy Lane, 6th Floor, Kolkata – 700001, West Bengal, India
PAN.:	ALBPS2333N
Sister concern :	Sait Mineline Private Limited

CAPITAL STRUCTURE

After As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 Millions
	Total		Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
120000		Rs.10/- each	Rs. 1.200 Millions
	Total		Rs 1.200 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	1.000 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		13.092	8.534	6.502
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		14.092	9.534	7.502
LOAN FUNDS
1] Secured Loans		14.447	8.783	15.512
2] Unsecured Loans		0.035	0.035	0.034
TOTAL BORROWING		14.482	8.818	15.546
DEFERRED TAX LIABILITIES		0.099	0.049	0.000
TOTAL		28.673	18.401	23.048
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.066	3.584	3.419
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.164	1.961	10.537
	Sundry Debtors	36.763	36.623	27.932
	Cash & Bank Balances	18.995	9.853	10.731
	Other Current Assets	7.985	6.873	6.624
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		65.907	55.310	55.824
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	38.692	37.498	32.859
	Other Current Liabilities	(1.042)	0.333	0.367
	Provisions	4.650	2.662	2.969
Total Current Liabilities		42.300	40.493	36.195
Net Current Assets		23.607	14.817	19.629
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		28.673	18.401	23.048

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	170.342	167.183	140.836
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	163.747	163.895	138.876
	PROFIT BEFORE TAX		6.595	3.288	1.960
Less	TAX		2.037	1.256	0.806
	PROFIT AFTER TAX		4.558	2.032	1.154
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6.351	4.319	3.165
	BALANCE CARRIED TO THE B/S		10.909	6.351	4.319
	Earnings Per Share (Rs.)		45.58	NA	NA

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	180.000	170.000

Expected Sales (2012-2013): Rs 190.000 Million

The above information has been parted Mr. Supriyo

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.67	1.21	0.81
Return on Total Assets (PBT/Total Assets}	(%)	9.29	5.58	21.21
Return on Investment (ROI) (PBT/Networth)		0.47	0.34	0.26
Debt Equity Ratio (Total Liability/Networth)		4.02	5.17	6.89
Current Ratio (Current Asset/Current Liability)		1.56	1.37	1.54

LOCAL AGENCY FURTHER INFORMATION

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	Yes
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
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	Yes
30) Major Shareholders, if available	Yes

Finance /Operation

Your computer recorded a Sales Turnover of Rs. 162.476 Millions as against Rs. 166.130 Millions in the Previous Year. The profit after tax amounted to Rs. 4.558 Millions as against Rs. 2.032 Millions in Previous Years

Bankers Charges Report as per Registry

Corporate identity number of the company	U31200WB1996PTC081754
Name of the company	MINE LINE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	23, Indrani Park PS Tally Gang, Kolkata – 700033, West Bengal, India
This form is for	Modification of charges
Charge identification (ID) number of the charge to be modified	90245616
Type of charge	· Immovable Property · Book Debts · Movable Property · Floating charges
Particular of charge holder	Indian Overseas Bank, Lansdowne Market Branch, 63/ 1A, Sarat Bose Road, Kolkata – 700025, West Bengal, India
Nature of instrument creating charge	1. General Counter guarantee 2. Hypothecation of book debts - form 107A 3. Letter of hypothecation (for securing Machineries/ vehicles/ goods/ book debts) form 110 E 4. Confirmation letter (Applicable for limited company mortgagor) evidencing creation of supplemental mortgage. Form - 379C 5. Letter of Hypothecation Form - F-110A 6. F- 16, F419 7. Board Resolution 8. Sanction letter
Date of instrument Creating the charge	24/11/2010
Amount secured by the charge	Rs. 34.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 11.75 % p.a. (floating i.e.; base rate + 3.50 %) Terms of Repayment Cash credit : on demand Margin Cash Credit: Stock : 25 % margin Book debt: 50 % Letter of Guarantee 10 % Cash Margin Extent and Operation of the charge First and exclusive charge on stocks and book debts, block assets of the company and immovable property.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	· First charge on Hypothecations of stocks and book debts. · Equitable mortgage of office building of the company situated at 23, Indrani Park, Kolkata - 700 033. · First charge on block of Assets of the company.
Date of instrument modifying the charge	30/06/2009
Particulars of the present modification	By this modification of charge overall limit of the firm has been enhanced from Rs. 25.500 Millions to Rs.34.000 Millions Details of which are given below: Cash Credit limit has been enhanced from Rs. 8.000 Millions to Rs. 9.000 Millions Letter of Guarantee has been enhanced from Rs. 14.500 Millions to Rs. 25.000 Millions Cheque purchased has been reduced from Rs. 2.000 Millions to nil Letter of credit has been reduced from Rs. 1.000 Millions to nil. Thus overall limit is Rs. 34.000 Millions.

Fixed Assets

· Factory Shed

· Plant Machinery

· Computer

· Electrical Installation

· Generator

· Office Equipment

· Furniture and Fixture

· Factory Equipment

· Air condition

· Testing Equipment

· Motor cycle

· Office Premises

· Motor Car

· Software

· Xerox Machine

Trade Reference

· Crompton greaves Private Limited

· Cod India limited

· Bharat cod limited

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.51.42
UK Pound	1	Rs.81.93
Euro	1	Rs.67.67

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	YES
--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.