MIRA INFORM REPORT

Report Date :

27.06.2012

IDENTIFICATION DETAILS

Name :	D.P. BANSAL COMMERCIAL COMPANY PRIVATE LIMITED w.e.f. 20.03.1996
Formerly Known As :	DHARAM AGRO AND STEEL INDUSTRIES PRIVATE LIMITED
Registered Office :	G. E. Road, Post New Khursipar, Near Durga Dharam Kanta, Bhilai – 490011, Chattisgarh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.09.1984
Com. Reg. No.:	10-002582
Capital Investment / Paid-up Capital :	Rs. 6.063 Millions
CIN No.: [Company Identification No.]	U27106MP1984PTC002582
TAN No.: [Tax Deduction & Collection Account No.]	JBPD00845F
PAN No.: [Permanent Account No.]	AAACO7978D
Legal Form :	Private Limited Liability Company
Line of Business :	Suppliers and Traders of MS Rod, MS TMT, Bars, Square Steel Bars, Steel Sheets, Mild Steel Rounds, Mild Steel Squares, Mild Steel Wire, Mild Structural Steel, MS Bars, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 78000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There appears huge dip in the profitability of the company during the year 2011. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered 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 (30.09.2011)	Current Rating (31.12.2011)
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 :	G. E. Road, Post New Khursipar, Near Durga Dharam Kanta, Bhilai – 490011, Chattisgarh, India
Tel. No.:	91-788-2281866/ 2223894
Mobile No.:	91-9993035999/ 9425234099 (Mr. Rahuldev)
Fax No.:	91-788-2281866/ 2356251
E-Mail :	rajneesh_bansal@hotmail.com

DIRECTORS

AS ON 30.08.2011

Name :

Mr. Dharam Pal Bansal

Designation :

Director

Address :

Block 50 Plot 9 and 10, Nehru Nagar, Bhilai Durg – 490020, Chattisgarh, India

Date of Birth/Age :

17.03.1945

Date of Appointment :

18.09.1984

DIN No.:

00386203

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	U27106CT1984PTC002582	D.P. BANSAL COMMERCIAL COMPANY PRIVATE LIMITED	Director	18-09-84	18-09-84	Active	NO
2	U72200CT2007PTC020367	APT INFO AND PROJECTS PRIVATE LIMITED	Director	31-08-07	31-08-07	Active	NO
3	U28112CT2009PTC021354	METALL STRUCTURES PRIVATE LIMITED	Director	27-08-09	27-08-09	Active	NO

Name :

Mr. Rajneesh Kumar Bansal

Designation :

Director

Address :

Block 50 Plot 9 and 10, Nehru Nagar, Bhilai Durg – 490020, Chattisgarh, India

Date of Birth/Age :

19.05.1975

Date of Appointment :

01.03.1996

DIN No.:

00386137

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	U27106CT1984PTC002582	D.P. BANSAL COMMERCIAL COMPANY PRIVATE LIMITED	Director	01-03-96	01-03-96	Active	NO
2	U72200CT2007PTC020367	APT INFO AND PROJECTS PRIVATE LIMITED	Director	31-08-07	31-08-07	Active	NO
3	U28112CT2009PTC021354	METALL STRUCTURES PRIVATE LIMITED	Director	27-08-09	27-08-09	Active	NO

Name :

Mr. Karuna Bansal

Designation :

Director

Address :

Block 50 Plot 9 and 10, Nehru Nagar, Bhilai Durg – 490020, Chattisgarh, India

Date of Birth/Age :

03.02.1953

Date of Appointment :

18.09.1984

DIN No.:

00386242

Name :

Mr. Rahul Dev Bansal

Designation :

Director

Address :

Block 50 Plot 9 and 10, Nehru Nagar, Bhilai Durg – 490020, Chattisgarh, India

Date of Birth/Age :

12.12.1979

Date of Appointment :

08.02.2007

DIN No.:

01329146

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	U27106CT1984PTC002582	D.P. BANSAL COMMERCIAL COMPANY PRIVATE LIMITED	Director	08-02-07	08-02-07	Active	NO
2	U72200CT2007PTC020367	APT INFO AND PROJECTS PRIVATE LIMITED	Director	31-08-07	31-08-07	Active	NO
3	U28112CT2009PTC021354	METALL STRUCTURES PRIVATE LIMITED	Director	01-04-10	01-04-10	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.08.2011

Names of Shareholders	No. of Shares
Dharam Pal Bansal	15531
Karuna Bansal	22061
Rajneesh Kumar Bansal	2520
Rahul Dev Bansal	5000
Suman Singh	3000
Rajneesh Kumar Bansal (HUF)	10
Rita Bansal	10
Metal Structures Private Limited, India	12500
Total	60632

AS ON 30.08.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	20.62
Directors or relatives of directors	74.43
Other top fifty shareholders	4.95
Total	100.00

BUSINESS DETAILS

Line of Business :

Suppliers and Traders of MS Rod, MS TMT, Bars, Square Steel Bars, Steel Sheets, Mild Steel Rounds, Mild Steel Squares, Mild Steel Wire, Mild Structural Steel, MS Bars, etc.

Products :

· MS Rod

· MS TMT

· Bars, Square Steel Bars

· Steel Sheets

· Mild Steel Rounds

· Mild Steel Squares

· Mild Steel Wire

· Mild Structural Steel

· MS Bars, etc.

ITC Code	Product Descriptions
72	Steel and Iron

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Industrial Estate Branch, Bhilai – 490026, Chhattisgarh, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Cash credit with SBI Industrial Estate, Bhilai	41.610	29.979
State Bank of India Term Loan, Bhilai	0.223	0.401
Total	41.833	30.380
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Directors and Shareholder	8.721	16.451
Total	8.721	16.451

Banking Relations :	--
Auditors :
Name :	Deshpande Malu and Company Chartered Accountants
Address :	26, Mahalaxmi Market, Pandri, Raipur – 492009, Chattisgarh, India
Tel. No.:	91-771-2583349/ 2583590
E-Mail :	dmcom@rediffmail.com
Income-tax PAN of auditor or auditor's firm :	ACIPJ0941K

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 100/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
60632	Equity Shares	Rs. 100/- each	Rs. 6.063 Millions

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		6.063	6.063	6.063
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		13.602	10.256	5.508
4] (Accumulated Losses)		0.000	0.000	(1.118)
NETWORTH		19.665	16.319	10.453
LOAN FUNDS
1] Secured Loans		41.833	30.380	31.571
2] Unsecured Loans		8.721	16.451	14.080
TOTAL BORROWING		50.554	46.831	45.651
DEFERRED TAX LIABILITIES		0.214	0.309	0.258
TOTAL		70.433	63.459	56.362
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.556	4.291	3.633
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.500	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	38.076	32.599	32.771
	Sundry Debtors	25.143	27.736	12.956
	Cash & Bank Balances	1.482	0.613	1.988
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	5.578	4.525	6.612
Total Current Assets		70.279	65.473	54.327
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.281	4.794	1.472
	Other Current Liabilities	0.001	0.470	0.126
	Provisions	1.620	1.041	0.000
Total Current Liabilities		4.902	6.305	1.598
Net Current Assets		65.377	59.168	52.729
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		70.433	63.459	56.362

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	273.843	276.636	235.562
		Other Income	0.048	0.020	0.190
		TOTAL (A)	273.891	276.656	235.752
Less	EXPENSES
		Purchase	262.889	257.560	219.133
		Direct Expenditure	2.430	2.044	1.483
		Employee Remuneration and Benefit	0.988	0.983	0.806
		Administrative and Selling Expenses	2.013	2.776	1.288
		Increase/ Decrease in stock	(5.477)	0.172	12.620
		TOTAL (B)	262.843	263.535	235.330
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		11.048	13.121	0.422
Less	FINANCIAL EXPENSES (D)		5.329	5.725	3.664
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.719	7.396	(3.242)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.341	0.264	0.224
	PROFIT BEFORE PRIOR PERIOD ADJUSTMENT		5.378	7.132	(3.466)
Less	PRIOR PERIOD ADJUSTMENT		0.455	0.174	0.015
	PROFIT BEFORE TAX (E-F) (G)		4.923	6.958	(3.481)
Less	TAX (I)		1.577	1.092	0.059
	PROFIT AFTER TAX (G-I) (J)		3.346	5.866	(3.540)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		4.748	(1.118)	2.422
	BALANCE CARRIED TO THE B/S		8.094	4.748	(1.118)
	Earnings Per Share (Rs.)		55.00	97.00	(58.39)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.22	2.12	(1.50)
Net Profit Margin (PBT/Sales)	(%)	1.80	2.52	(1.48)
Return on Total Assets (PBT/Total Assets}	(%)	6.58	9.97	(6.01)
Return on Investment (ROI) (PBT/Networth)		0.25	0.43	(0.33)
Debt Equity Ratio (Total Liability/Networth)		2.82	3.26	4.52
Current Ratio (Current Asset/Current Liability)		14.34	10.38	34.00

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. Constructions of the firm	Yes
4. Premises details	No
5. Type of Business	Yes
6. Line of Business	Yes
7. Promoter’s background	Yes
8. No. of Employees	No
9. Name of person contacted	No
10. Designation of contact person	No
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	No
15. Capital in the business	Yes
16. Details of sister concerns	No
17. Major suppliers	No
18. Major customers	No
19. Payments terms	No
20. Export / Import details	No
21. Market information	--
22. Litigations that the firm / promoter involved	--
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

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U27106MP1984PTC002582
Name of the company	D.P. BANSAL COMMERCIAL COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	G.E. Road, Post New Khursipur, Near Durga Dharamkanta, Bhilai - 490011, Madhya Pradesh, India Email ID: rajneesh_bansal@hotmail.com
This form is for	Modification of charge
Charge identification number of the modified	90207806
Type of charge	Immovable property Any interest in immovable property Book Debts Movable Property Floating Charge
Particular of charge holder	State Bank of India, Industrial Estate Branch, Bhilai – 490026, Chattisgarh, India Email ID: george.mathew@sbi.co.in
Nature of description of the instrument creating or modifying the charge	(i) Sanction letter dated 28.09.11 executed on 15.02.11 alongwith Terms and Conditions, Annexure A and B-SME-1. (ii) Supplemental Agreement of loan cum hypothecation dtd.15.02.2011-SME-4 (iii) Memorandum for recording creation of mortgage by deposit of title deeds. SME-5
Date of instrument Creating the charge	15.02.2011
Amount secured by the charge	Rs. 50.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 6.00% Margin above the base rate which is presently 7.50 % per annum presently effective rate 13.50 % PER annum calculated on daily products with monthly rests. Terms of Repayment Cash Credit repayable on demand. Margin Stock 25 % Receivables (Cover 60 DAYS) 40 % Extent and Operation of the charge The charge operates as security, interalia, 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/charge/guarantee documents.
Short particulars of the property charged	Hypothecation of entire stocks and outstanding moneys, receivables, claims and bills etc. at the Company premises of the firm or at such places and goods in transit (both Present and Future) Extension of EM of double storied building on land 720 Sq Mts on Plot 9 and 10 block 50 having constructed area of GF 241.387 sq mts and FF 241.387 sq mts at N. N., Bhilai in the name of Smt Karuna Bansal Pledge/ Hypothecation of Plant & Machinery both present and future
Date of latest modification prior to the present modification	22.08.2007
Particulars of the present modification	The cash credit limit has been increased from rupees 30.000 Millions to rupees 50.000 Millions.

FIXED ASSETS:

· Land

· Building

· Furniture and Fixtures

· Computer

· Plant and Machinery

· Trucks

· Vehicle

· Crane

· Office Equipments

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. 57.07
UK Pound	1	Rs. 88.96
Euro	1	Rs. 71.40

INFORMATION DETAILS

Report Prepared by :

BVA

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	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		43

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

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.