MIRA INFORM REPORT

Report Date :

19.04.2013

IDENTIFICATION DETAILS

Name :	R M PHOSPHATES AND CHEMICALS PRIVATE LIMITED
Registered Office :	Flat No 501 Building F, Gulmarg Housing Society, Near Chembur Naka, Chembur, Mumbai - 400074, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	07.10.2010
Com. Reg. No.:	11-208728
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U24100MH2010PTC208728
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Phosphates.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (18)

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 :	Project under implementation
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporate in the year 2010. They have not commence with its core business activity. As confirm with Mr. Vaibhav from Account Department the company will started its activity from July 2013. Payment terms are unknown. The company can be considered for business dealings on a safe and 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY (PARTIAL DETAILS)

Name :	Mr. Vaibhav
Designation :	Account Department
Contact No.:	91-2562-241399
Date :	18.04.2013

LOCATIONS

Registered Office :	Flat No 501 Building F, Gulmarg Housing Society, Near Chembur Naka, Chembur, Mumbai - 400074, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	rakeshjain@rmgroup501.com
Factory :	Plot No.T-3/1, Phase – II, Nardana MIDC, Dhule – 424309, Maharashtra, India

DIRECTORS

As on: 30.09.2011

Name :	Mr. Rakeshkumar Surendrakumar Jain
Designation :	Director
Address :	74, Jumerati, Bhopal – 462001, Madhya Pradesh, India
Date of Birth/Age :	08.02.1969
Date of Appointment :	07.10.2010
DIN No.:	00373849
Name :	Mr. Nand Kishore Jain
Designation :	Director
Address :	5/28 Agarwal Bhawan, Mahesh, Indore, Nagar, Madhya Pradesh, India
Date of Birth/Age :	09.12.1963
Date of Appointment :	07.10.2010
DIN No.:	00997034
Name :	Mr. Vineet Kumar Jain
Designation :	Director
Address :	100/A, Kaberi Kunja, Agra, Uttar Pradesh, India
Date of Birth/Age :	21.11.1987
Date of Appointment :	13.12.2010
DIN No.:	03321479

KEY EXECUTIVES

Name :	Mr. Vaibhav
Designation :	Account Department

MAJOR SHAREHOLDERS

As on: 30.09.2011

Names of Shareholders	No. of Shares
Rakeshkumar Surendrakumar Jain	5000
Nand Kishore Jain	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Phosphates.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Bank of Baroda, R.N.T Marg, M.Y.H Road, Indore - 452001, Madhya Pradesh, India

Facilities :

(Rs. In Millions)

Unsecured Loan	As on 31.03.2011
From Directors	0.590
Total	0.590

Banking Relations :	--
Auditors :
Name :	Ashish H. Goyal and Company Chartered Accountants
Address :	514 A, Kakkad Market, 5th Floor, 306, Kalbadevi Road, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-22086561
Fax No.:	91-22-40229698
PAN No.:	AANFA5614P

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	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)		(0.020)
NETWORTH		0.080
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.590
TOTAL BORROWING		0.590
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.670
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	0.141
	Other Current Assets	0.000
	Loans & Advances	0.025
Total Current Assets		0.166
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.468
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.468
Net Current Assets		(0.302)
MISCELLANEOUS EXPENSES		0.972
TOTAL		0.670

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	0.000
		Other Income	0.000
		TOTAL	0.000
Less	EXPENSES
		Auditors Remuneration Audit Fees	0.018
		Bank Charges	0.001
		Printing and Stationary	0.001
		TOTAL	0.020
	PROFIT/ (LOSS) BEFORE TAX		(0.020)
Less	TAX		0.000
	PROFIT/ (LOSS) AFTER TAX		(0.020)
	Earnings/ (Loss) Per Share (Rs.)		(4.06)

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(12.05)
Return on Investment (ROI) (PBT/Networth)		(0.25)
Debt Equity Ratio (Total Debt /Networth)		7.37
Current Ratio (Current Asset/Current Liability)		0.35

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	No
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 involved in	----------------------
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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

BANKERS CHARGES REPORT AS PER REGISTRY:

Corporate identity number of the company	U24100MH2010PTC208728
Name of the company	R M PHOSPHATES AND CHEMICALS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Flat No 501 Building F, Gulmarg Housing Society, Near Chembur Naka, Chembur, Mumbai - 400074, Maharashtra, India rakeshjain@rmgroup501.com
This form is for	Creation of charge
Type of charge	Immovable property Book debts Movable property (not being pledge) Others (Personal Guarantee)
Particular of charge holder	Bank of Baroda, R.N.T Marg, M.Y.H Road, Indore - 452001, Madhya Pradesh, India indore@bankofbaroda.com
Nature of instrument creating charge	Composite hypothecation agreement Letter of continuing security Memorandum of entry D.P. Note
Date of instrument Creating the charge	01.12.2012
Amount secured by the charge	Rs.160.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Term Loan: 5% above Base Rate i.e. 15.50% p.a. at present at monthly rests Cash Credit (Hypo.of Stocks/Book Debts) : 5% above Base Rate i.e. 15.50%p.a. at present at monthly rests Terms of Repayment Cash Credit (Hyp. of Stocks/Book Debts) : 12 Months Term Loan: 24 Quarterly Installment to be repaid in 23 Quarterly Installment each of Rs. 5.417 Millions and last i.e. 24th Quarterly Installment of Rs. 5.409 Millions. The first Quarterly installment will fall due on 01.10.2013 Margin Term Loan: 34.77% Cash Credit (Hypo.of Stocks/Book Debts) : 25% for RM, SIP, FG, Stores and Spares and Packing Materials 40%for Book Debts up to 90 days Extent and Operation of the charge E/M of factory land and proposed building at Plot No. T-3/1, admeasuring 75000 Sq.Mts suitated at MIDC, Nardana Industrial area vill. Sindhkheda Distt. Dhule Maharashtra, India Others Personal Guarantee : Mr. Nand Kishore Jain, Mr. Rakesh Jain, Mr. Vineet Jain, Mr. Surendra Kumar Jain, Mrs. Kavita Jain, Mrs. Indra Kanta Jain and Mrs. Ruchi Jain
Short particulars of the property or asset(s) charged (including complete address and location of the property)	E/M of factory land and proposed building at Plot No. T-3/1, admeasuring 75000 Sq.Mts suitated at MIDC, Nardana Industrial area vill. Sindhkheda Distt. Dhule Maharashtra Exclusive 1st Charge by way of Hypothecation of entire Machineries and other movable fixed assets of the company situated at the above mentioned factory/site, present and future (LDOC-17-B) Exclusive 1st Charge by way of Hypothecation of entire raw materials, stock in process, stores and spare, packing materials, finished goods and Book Debts of the company, both present and future The Whole of the Borrower's stocks, both present and future and including but without prejudice to the generally of the foregoing words, all stocks of raw materials, work-in-process, semi finished goods and finished goods such as various materials like Granulors, single super, phosphates etc. packing materials and stores etc. All the present and future Book-debts, outstanding, monies receivable, claims, bills, contracts engagements and securities

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 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.54.03.
UK Pound	1	Rs.82.43
Euro	1	Rs.70.49

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	RAJ

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	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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
--DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		18

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.