MIRA INFORM REPORT

Report Date :

10.05.2012

IDENTIFICATION DETAILS

Name :	OMICRON STEEL TRADES PRIVATE LIMITED
Registered Office :	Office No.307, Maker Chambers V, Nariman Point, Mumbai – 400 021, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	30.10.2009
Com. Reg. No.:	11-196778
Capital Investment / Paid-up Capital :	Rs.0.300 Million
CIN No.: [Company Identification No.]	U27310MH2009PTC196778
TAN No.: [Tax Deduction & Collection Account No.]	MUMO05169D
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Hot HR and CR Coils and Metal Scrap.
No. of Employees :	18 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 18000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a relatively new company having satisfactory track. The company is progressing well. 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

LOCATIONS

Registered Office :	Office No.307, Maker Chambers V, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-22804180/81
Fax No.:	91-22-22804182
E-Mail :	nitin@kanakgroup.in marutistrips@gmail.com
Website :	www.kanakgroup.com
Location :	Owned

DIRECTORS

Name :

Mr. Shailesh Shashikant Saraswate

Designation :

Director

Address :

1652/19, West Street Camp, Pune – 411001, Maharashtra, India

Date of Birth/Age :

27.10.1971

Date of Appointment :

30.10.2009

DIN No.:

02033279

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	U27101PN2008PTC131771	Maruti Strips and Ferro Alloys Private Limited	Director	08-04-08	08-04-08	-	Active	NO
2	U27107PN2009PTC133945	Shree Kanakgiri Power and Steel Private Limited	Director	13-05-09	13-05-09	-	Active	NO
3	U27310MH2009PTC196778	Omicron Steel Trades Private Limited	Director	30-10-09	30-10-09	-	Active	NO
4	U27200MH2010PTC199056	Kanaktej Iron and Steel Private Limited	Director	19-01-10	19-01-10	-	Strike off	NO
5	U45209PN2011PTC139342	Kanak Vastu Rachna Private Limited	Director	27-04-11	27-04-11	12-07-11	Active	NO
6	U74900PN2011PTC140279	Kaved Steel Products Private Limited	Director	27-07-11	27-07-11	-	Active	NO
7	U74900PN2011PTC141681	Sahyadri Ferromelt Private Limited	Director	16-12-11	16-12-11	-	Active	NO

Name :

Mr. Yogesh Shashikant Saraswate

Designation :

Director

Address :

1652/19, West Street Camp, Pune – 411001, Maharashtra, India

Date of Birth/Age :

03.07.1974

Date of Appointment :

30.10.2009

DIN No.:

01969787

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	U27106MH2007PTC171471	Oshiya Industries Private Limited	Additional director	21-03-08	21-03-08	10-12-09	Active	NO
2	U27101PN2008PTC131771	Maruti Strips and Ferro Alloys Private Limited	Director	08-04-08	08-04-08	-	Active	NO
3	U27107MH2008PTC182136	Kuber Steels and Minerals Private Limited	Director	13-05-08	13-05-08	-	Active	NO
4	U14200MH2008PTC183979	Kanak Mines and Minerals Private Limited	Director	25-06-08	25-06-08	-	Active	NO
5	U27107PN2009PTC133945	Shree Kanakgiri Power and Steel Private Limited	Director	13-05-09	13-05-09	-	Active	NO
6	U29299PN2002PTC017241	Ventisys Equipments Private Limited	Managing director	09-02-10	28-07-09	-	Active	NO
7	U27310MH2009PTC196778	Omicron Steel Trades Private Limited	Director	30-10-09	30-10-09	-	Active	NO
8	U27200MH2010PTC199056	Kanaktej Iron and Steel Private Limited	Director	19-01-10	19-01-10	-	Strike off	NO
9	U51909MH2003PTC141769	Vibrant Global Trading Private Limited	Additional director	20-04-10	20-04-10	24-06-10	Active	NO
10	U45209PN2011PTC139342	Kanak Vastu Rachna Private Limited	Director	27-04-11	27-04-11	-	Active	NO
11	U74900PN2011PTC139491	Worth Engineering Private Limited	Director	21-12-11	10-05-11	-	Active	NO
12	U74900PN2011PTC140279	Kaved Steel Products Private Limited	Director	27-07-11	27-07-11	-	Active	NO
13	U74900PN2011PTC141681	Sahyadri Ferromelt Private Limited	Director	16-12-11	16-12-11	-	Active	NO
14	U45200PN2012PTC142442	Kaved Realty Private Limited	Director	02-03-12	02-03-12	-	Active	NO
15	U45200PN2012PTC142441	Veddant Spaces Private Limited	Director	02-03-12	02-03-12	-	Active	NO

MAJOR SHAREHOLDERS/ SHAREHOLDING PATTERN

As on 23.10.2009

Names of Shareholders	No. of Shares
Yogesh Shashikant Saraswate	5000
Shailesh Shashikant Saraswate	5000
Total	10000

BUSINESS DETAILS

Line of Business :

Trader and Importer of Hot HR and CR Coils and Metal Scrap.

GENERAL INFORMATION

No. of Employees :	18 (Approximately)
Bankers :	Allahabad Bank, Industrial Finance Branch, 37, Mumbai Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Mr. Avinesh J Chartered Accountant
Address :	Pune, Maharashtra, India
Sister Concerns :	· Maruti Strips and Ferro Alloys Private Limited · Ventisys Equipment Private Limited

CAPITAL STRUCTURE

As on 20.09.2011

Authorised Capital : Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.30.000 Millions

As on 31.03.2011

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : Rs.0.300 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS			31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital			0.300
2] Share Application Money			0.000
3] Reserves & Surplus			4.092
4] (Accumulated Losses)			0.000
NETWORTH			4.392
LOAN FUNDS
1] Secured Loans			0.000
2] Unsecured Loans			0.000
TOTAL BORROWING			0.000
DEFERRED TAX LIABILITIES			0.000
TOTAL			4.392
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		377.059
	Sundry Debtors		269.870
	Cash & Bank Balances		0.956
	Other Current Assets		0.000
	Loans & Advances		135.551
Total Current Assets			783.436
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities		779.044
	Provisions
Total Current Liabilities			779.044
Net Current Assets			4.392
MISCELLANEOUS EXPENSES			0.000
TOTAL			4.392

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	2324.134
		Other Income	0.015
		TOTAL (A)	2324.149
Less	EXPENSES
		Cost of Goods Sold	2299.745
		Direct Expenses	9.893
		Administrative Expenses	4.439
		TOTAL (B)	2314.077
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		10.072
Less	FINANCIAL EXPENSES (D)		4.150
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.922
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000
	PROFIT BEFORE TAX (E-F) (G)		5.922
Less	TAX (H)		1.830
	PROFIT AFTER TAX (G-H) (I)		4.092
	BALANCE CARRIED TO THE B/S		4.092

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	0.18
Net Profit Margin (PBT/Sales)	(%)	0.25
Return on Total Assets (PBT/Total Assets}	(%)	0.76
Return on Investment (ROI) (PBT/Networth)		1.35
Debt Equity Ratio (Total Liability/Networth)		177.37
Current Ratio (Current Asset/Current Liability)		1.01

LOCAL AGENCY FURTHER INFORMATION

Note: The Company started its activities by May 2010.

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	No
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	No
10) Designation of contact person	No
11) Turnover of firm for last one year	Yes
12) Profitability for last one year	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	No
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

FORM 8

Corporate identity number of the company	U27310MH2009PTC196778
Name of the company	OMICRON STEEL TRADES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Office No.307, Maker Chambers V, Nariman Point, Mumbai – 400 021, Maharashtra, India Email Id : marutistrips@gmail.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Current and Fixed assets
Particular of charge holder	Allahabad Bank, Industrial Finance Branch, 37, Mumbai Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India Email Id : info@ca-adlalwani.com
Nature of instrument creating charge	1.General Letter of Hypothecation
Date of instrument Creating the charge	25.01.2011
Amount secured by the charge	Rs.180.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As stipulated by bank from time to time Terms of repayment On demand and/or as stipulated by bank from time to time Margin As stipulated by bank from time to time Extent and operation of the charge First charge (present and future)=letter of credit limit Rs.180.000 Millions and/or as stipulated by bank from time to time Others As stipulated by bank from time to time and as per agreement attached and as per sanction letter of the bank
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First charge (present and future on following assets) (1) Hypothecation of all stocks/ goods/ inventories/ products kept at borrower's premises/ factories/ godowns/ places or where ever else or in transit including brought under L.C (2) Hypothecation of all book debts and receivables etc (3) Hypothecation of all fixed assets including all tangible movable machinery's, plant, fixture, fittings, other installations, cranes, furniture, computer and other accessories, vehicles etc (4) Hypothecation of all current and movable assets of the company

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.53.46
UK Pound	1	Rs.86.27
Euro	1	Rs.69.40

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
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	NO
--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		41

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.