MIRA INFORM REPORT

Report Date :

22.03.2012

IDENTIFICATION DETAILS

Name :	SHRI SADGURU COKE PRIVATE LIMITED
Registered Office :	Jamnagar Road, Opposite IOC Tanka, Rajkot – 360006, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.07.2010
Com. Reg. No.:	04-061630
Capital Investment/ Paid-up Capital:	Rs.0.100 million
CIN No.: [Company Identification No.]	U23101GJ2010PTC061630
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing, Trader and Supplier of Coke and Coal.
No. of Employees:	60 (Approximately) (In office + In Factory)

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

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 :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a relatively new company and yet to establish itself gradually. Business is active. Payment terms are not known. The Company can be considered for business dealings on a secured 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. Chirag Ashwinbhai Tanna
Designation :	Director
Contact No.:	91-281-2488085
Date :	27.02.2012

LOCATIONS

Registered Office / Factory :	Jamnagar Road, Opposite IOC Tanka, Rajkot – 360006, Gujarat, India
Tel. No.:	91-281-2488085
Mobile No.:	91-9824208028 (Mr. Gordhan)
Fax No.:	91-281-2488197
E-Mail :	ca.kalpak@gmail.com gordhantanna@yahoo.in
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :	Mr. Gordhanbhai Vrujlal Tanna
Designation :	Managing Director
Address :	240, Indraprasth Nagar Sociery-4, Akshay Marg, Rajkot-360005, Gujarat
Date of Birth/Age :	29.12.1959
Date of Appointment :	16.07.2010
DIN No.:	02624180
Name :	Mr. Narendrabhai Sukhiaibhai Paun
Designation :	Director
Address :	240, Indraprasth Nagar Society-4,Akshar Marg, Rajkot– 36004, Gujarat
Date of Birth/Age :	20.061961
Date of Appointment :	16.07.2010
DIN No.:	02580107
Name :	Mr. Ravibhai Narendrabhai Paun
Designation :	Director
Address :	Bhakti Nagar Society, Rajkot– 360001, Gujarat
Date of Birth/Age :	12.05.1979
Date of Appointment :	16.07.2010
DIN No.:	02580124
Name :	Mr. Jigneshbhai Umeshhai Paun
Designation :	Director
Address :	35, Paras Society, Opposite Convent School, Rajkot– 360005, Gujarat
Date of Birth/Age :	14.01.1975
Date of Appointment :	16.07.2010
DIN No.:	02580061
Name :	Mr. Umeshbhai Sukhlal Paun
Designation :	Director
Address :	35, Paras Society, Opposite Convent School, Rajkot– 360005, Gujarat
Date of Birth/Age :	04.04.1949
Date of Appointment :	16.07.2010
DIN No.	02580115
Name :	Mr. Ashwinbhai Vrujlal Tanna
Designation :	Director
Address :	Raghukrupa,5/8, Indraprasth Nagar, Akshar Road, Rajkot– 360004, Gujarat
Date of Birth/Age :	03.03.1957
Date of Appointment :	16.07.2010
DIN No.	02624206
Name :	Mr. Narendrabhai Vrujlal Tanna
Designation :	Director
Address :	240, Indraparsth Nagar Society – 4, Akshar Marg, Rajkot– 360004, Gujarat
Date of Birth/Age :	20.06.1961
Date of Appointment :	16.07.2010
DIN No.	02624240
Name :	Mr. Amit Ashwinbhai Tanna
Designation :	Director
Address :	Raghukrupa,5/8, Indraprasth Nagar, Akshar Road, Rajkot– 360001, Gujarat
Date of Birth/Age :	22.05.1982
Date of Appointment :	16.07.2010
DIN No.	03115599
Name :	Mr. Chirag Ashwinbhai Tanna
Designation :	Director
Address :	Raghukrupa,5/8, Indraprasth Nagar, Akshar Road, Rajkot– 360001, Gujarat
Date of Birth/Age :	22.11.1985
Date of Appointment :	16.07.2010
DIN No.	03115611

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Narendrabhai Sukhiaibhai Paun	1250
Ravibhai Narendrabhai Paun	1250
Jigneshbhai Umeshhai Paun	1250
Umeshbhai Sukhlal Paun	1250
Gordhanbhai Vrujlal Tanna	1500
Ashwinbhai Vrujlal Tanna	2000
Narendrabhai Vrujlal Tanna	1500
Ashwin Coal Traders, India	1
TOTAL	10001

As on 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing, Trader and Supplier of Coke and Coal.
Terms :
Selling :	L/C
Purchasing :	L/C

GENERAL INFORMATION

Customers :	Wholesalers and Retailers
No. of Employees :	60 (Approximately) (In office + In Factory)
Bankers :	HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Arvindkumar Maniyar and Company Chartered Accountants
Address :	Abhay Nivas, 14, Panchnath Plot, Rajkot-360001, Gujarat, India
PAN No.:	ACJPM0775H
Sister Concerns:	Ashwin Coal Trader

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20001	Equity Share	Rs.10/- each	Rs.0.200 Million

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Share	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.009)
NETWORTH		0.091
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.122
TOTAL BORROWING		0.122
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.213
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.709
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		0.709
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.510
	Statutory Liability	0.001
	Provisions	0.009
Total Current Liabilities		0.520
Net Current Assets		0.189
MISCELLANEOUS EXPENSES		0.023
TOTAL		0.213

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income
		Other Income
		TOTAL	0.496
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	0.505
	PROFIT BEFORE TAX		(0.009)
Less	TAX		0.000
	PROFIT AFTER TAX		(0.009)
	Earnings Per Share (Rs.)		(0.90)

Expected Sales (2011-2012) : Rs.350.000 Millions

The above information has been parted by Mr. Chirag Ashwinbhai Tanna.

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	(1.81)
Return on Total Assets (PBT/Total Assets}	(%)	(1.27)
Return on Investment (ROI) (PBT/Networth)		(0.10)
Debt Equity Ratio (Total Liability/Networth)		7.05
Current Ratio (Current Asset/Current Liability)		1.36

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	-
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	No
Profitability for last three years	No
Reasons for variation <> 20%	-
Estimation for coming financial year	Yes
Capital the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	No
Incorporation details, if applicable	-
Last accounts filed at ROC	-
Major Shareholders, if applicable	-

Form 8:

Corporate identity number of the company	U23101GJ2010PTC061630
Name of the company	SHRI SADGURU COKE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Jamnagar Road, Opposite IOC Tanka, Rajkot – 360006, Gujarat, India E-mail : ca.kalpak@gmail.com
This form is for	Creation of charge
Type of charge	· Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, India E-mail : RBBform8@hdfcbank.com
Nature of instrument creating charge	Letter of Hypothecation
Date of instrument Creating the charge	14.09.2011
Amount secured by the charge	Rs.20.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment on demand Margin As may be stipulated by the Bank from time to time. Extent and Operation of the charge Hypothecation by way of First Charge on Company's Stocks and Book Debts, etc, as a continuing security to secure below for the repayment of Rs.20.000 Millions together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Stock in Trade, consisting of raw materials, goods in process of manufacturing finished goods, and other merchandise whatsoever being movable properties All the debts, that is, all the book debts, outstanding, monies receivables, claims, bills, invoice documents, contracts, guarantees, and rights

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.50.59
UK Pound	1	Rs.80.34
Euro	1	Rs.67.14

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
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	1
--CREDIT LINES	1~10	-
--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		13

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.