MIRA INFORM REPORT

Report Date :

23.04.2013

IDENTIFICATION DETAILS

Name :	SEEMA INTERMET PRIVATE LIMITED
Registered Office :	Ramji House Premises Co-Operative Society limited, " A Wing" Office No 605-607, 30, Jambulwadi, Kalbadevi Road, Mumbai – 400002, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	06.03.1995
Com. Reg. No.:	11-086084
Capital Investment / Paid-up Capital :	Rs. 2.500 Millions
CIN No.: [Company Identification No.]	U27200MH1995PTC086084
TAN No.: [Tax Deduction & Collection Account No.]	MUMS36980G
PAN No.: [Permanent Account No.]	AABCS4648E
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Metal Scrap
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 88000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The profitability of the company appears to be low. The external borrowing seems to be huge. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for normal business dealings with great caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

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

Name :	Mr. M.S. Rathod
Designation :	Account Department
Contact No.:	91-9892214413
Date :	22.04.2013

LOCATIONS

Registered Office :	Ramji House Premises Co-Operative Society limited, " A Wing" Office No 605-607, 30, Jambulwadi, Kalbadevi Road, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-23806734
Mobile No.:	91-9833707092 (Mr. Suyog Dhomse) 91-9892214413 (Mr. M.S. Rathod)
Fax No.:	91-22-23806734
E-Mail :	sipl2010@gmail.com seemaintermet@rediffmail.com
Area :	1000 sq ft
Location :	Owned
Warehouse :	Located at: Bhiwandi
Area :	1000 sq ft
Location :	Rented

DIRECTORS

As on 28.09.2012

Name :	Mr. Ashok Ratanlal Talesara
Designation :	Director
Address :	7/ B, Abhilasa C.H.S.L., 46, August Krnati Marg, Gowalia Tank, Mumbai – 400 036, Maharashtra, India
Date of Birth/Age :	25.06.1960
Qualification :	Graduate
Date of Appointment :	06.03.1995
DIN No.:	00521481
Name :	Mr. Vishnu Ratanlal Talesara
Designation :	Director
Address :	C – 601, Kailash Tower, Vallabh Baug Lane, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India
Date of Birth/Age :	05.07.1966
Qualification :	Graduate
Date of Appointment :	01.04.2000
DIN No.:	00521498

KEY EXECUTIVES

Name :	Mr. M.S. Rathod
Designation :	Account Department
Name :	S. P. Imartey and Associates
Designation :	Company Secretaries
Address:	213, Shrikrishna Industrial Premises CHSL, Near Toll Naka, Western Express Highway, Near CNG Centre, Dahisar (East), Mumbai - 400 068, Maharashtra, India

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2012

Names of Shareholders	No. of Shares
Ashok R. Talesara	130200
Seema A. Talesara	4900
Abha A. Talesara	100
Ankit V. Talesara	100
Ashok R. Talesara (HUF)	100
Dilip R. Talesara (HUF)	100
Dilip R. Talesara	100
Kamal R. Talesara (HUF)	100
Kamal R. Talesara	100
Kashmira V.Talesara	100
Kiran K. Talesara	100
Krishna A. Talesara	100
Manju D. Talesara	100
Nitin D. Talesara	100
Sunita V. Talesara	100
Sunny K. Talesara	100
Sushma D. Talesara	100
Vibha A. Talesara	100
Vijay R. Talesara	100
Vijay R. Talesara (HUF)	100
Vishank V.Talesara	100
Vishnu R. Talesara (HUF)	100
Vishnu R. Talesara	112900
Total	250000

As on 28.09.2012

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 :	Trader of Metal Scrap
Imports :
Products :	Raw Material
Countries :	USA UAE
Terms :
Selling :	Credit (30 Days and 60 Days)
Purchasing :	Credit (30 Days and 60 Days)

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

20 (Approximately)

Bankers :

· The Shamrao Vithal Co-operative Bank Limited, Maker Tower, E Wing, Cuffe Parade, Mumbai - 400005, Maharashtra, India

· The Bombay Mercantile Co-Operative Bank Limited, Girgaum Branch, Duthpapeshwar Building, JSS Road, Girgaum, Mumbai – 400 002, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long Term Borrowings
ICICI Bank Limited (BMW Car Loan) Repayable during the year Rs.5.841 Millions	1.603	2.022
Kotak Mahindra Prime Limited Repayable during the year Rs.0.310 Million	0.409	0.665
Short Term Borrowings
Shamrao Vitthal Co-Operative Bank Limited (OD 1249) (Secured roan against hypothecation of Stock in Trade Debtors and personal guarantee of all Directors)	79.841	0.000
B.M.C. Bank Limited.(5233) O/d	0.000	27.145
Total	81.853	29.832

Banking Relations :	--
Auditors :
Name :	K. L. Parmar and Company Chartered Accountants
Address :	301, Saideep Apartment, J.B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-28202606/ 28210999
Fax No.:	91-22-28202605
E-Mail :	klparmar@gmail.com
PAN.:	AAFPP7308D
Group Company :	Bharathi Rubber Linning and Allied Services Private Limited Rashtriya Metal Corporation

CAPITAL STRUCTURE

As on 31.03.2012

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
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. Each holder of equity shares is entitled to one vote per share

The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

During the year ended March 31, 2012, the directors have not recommended any dividend during the period to conserve the resources of the company.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, will be in proportion to the number of equity shares held by the shareholders.

The aggregate number of bonus shares issued in the last five years immediately preceeding the balance sheet date is

Reconciliation of No. of Shares Outstanding in the Beginning and at the End of the year

Particulars	31.03.2012
Shares outstanding at the beginning of the year	250,000
Shares Issued during the year	--
Shares bought back during the year	--
Shares outstanding at the end of the year	250,000

Shareholders holding more than 5% of Share Capital

Name of Shareholder	No. of Shares held	% of Holding
Ashok Talesara	130000	52.00%
Vishnu Talesara	112900	45.000%

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.500	2.500	2.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		19.517	12.764	7.634
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		22.017	15.264	10.134
LOAN FUNDS
1] Secured Loans		81.853	29.832	35.436
2] Unsecured Loans		225.415	203.003	141.501
TOTAL BORROWING		307.268	232.835	176.937
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		329.285	248.099	187.071
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.369	11.844	9.338
Capital work-in-progress		1.587	0.000	0.000
INVESTMENT		0.811	0.810	0.810
DEFERREX TAX ASSETS		0.255	0.185	0.135
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	125.312	50.811	38.560
	Sundry Debtors	87.665	89.609	64.917
	Cash & Bank Balances	26.204	12.810	1.664
	Other Current Assets	0.102	0.000	0.000
	Loans & Advances	98.173	107.465	75.055
Total Current Assets		337.456	260.695	180.196
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	16.799	0.000	0.035
	Other Current Liabilities	4.392	21.638	0.000
	Provisions	2.002	3.797	3.373
Total Current Liabilities		23.193	25.435	3.408
Net Current Assets		314.263	235.260	176.788
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		329.285	248.099	187.071

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Turnover / Income	766.036	679.627	418.754
		Other Income	NA	22.609	0.001
		TOTAL	NA	702.236	418.755
Less	EXPENSES
		Office Expenses
		Administrative Expenses	NA	694.656	408.040
		Advertising Expenses
		TOTAL	NA	694.656	408.040
	PROFIT BEFORE TAX		9.738	7.580	10.715
Less	TAX		3.030	2.450	1.691
	PROFIT AFTER TAX		6.753	5.130	9.024
	VALUE OF IMPORTS		603.479	380.927	346.271
	Earnings Per Share (Rs.)		27.01	20.52	36.09

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	1.08	2.56
Net Profit Margin (PBT/Sales)	(%)	1.27	1.12	2.56
Return on Total Assets (PBT/Total Assets}	(%)	2.78	2.78	5.65
Return on Investment (ROI) (PBT/Networth)		0.44	0.50	1.06
Debt Equity Ratio (Total Debt /Networth)		13.96	15.25	17.46
Current Ratio (Current Asset/Current Liability)		14.55	10.25	52.87

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

Rs. In Millions

Particular	31.03.2012	31.03.2011	31.03.2010
Others	16.799	0.000	0.035
Total	16.799	0.000	0.035

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	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	No
15]	Capital in the business	No
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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

OPERATIONS:-

During the year, the company has recorded a Sales turnover of Rs. 766.036 Millions and earned a profit of Rs.6.753 Millions. The Directors are pursuing various business proposals and are hopeful of presenting a better picture in the ensuing years to come.

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2012	As on 31.03.2011
Short Term Borrowings
Loans From Directors	45.529	34.953
Other Loans and Advances (From Shareholders)	84.886	58.350
Other Loans and Advances (From Corporates)	95.000	109.700
Total	225.415	203.003

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U27200MH1995PTC086084
Name of the company	SEEMA INTERMET PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Ramji House Premises Co-Operative Society limited, " A Wing" Office No 605-607, 30, Jambulwadi, Kalbadevi Road, Mumbai – 400002, Maharashtra, India klparmar@gmail.com
This form is for	Creation of charge
Type of charge	· Immovable property · Any interest in immovable property
Particular of charge holder	The Shamrao Vithal Co-operative Bank Limited, Maker Tower, E Wing, Cuffe Parade, Mumbai - 400005, Maharashtra, India legaldept@svcbank.com
Nature of instrument creating charge	Recording Letter Evidencing Deposit Of Title Deeds
Date of instrument Creating the charge	18.05.2012
Amount secured by the charge	Rs.100.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As may be decided by the Bank from time to time Terms of Repayment As may be decided by the Bank from time to time Margin As may be decided by the Bank from time to time Extent and Operation of the charge To secure the due repayment of credit facilities aggregating Rs.100.000 Millions, together with all interest, cost, charges and expenses thereon, granted by the Bank to the Company Others Total facilities Cash Credit : Rs.100.000 Millions LC/BC : Rs.(40.000) Millions (Letter of Credit/ Buyers Credit is interchangeable with Cash Credit limit not to exceed Rs.40.000 Millions) -------------------------------------------- Total : Rs 100.000 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Equitbale Mortgage of 1) Office Premises Nos. A-605, A-606 and A-607, totally admeas. 91. 92 sq.mtrs. built up area on the sixth floor of the building known as "Ramji House Premises Co-operative Society Limited." situated on land bearing new Survey No.2471 (old No.486) and 1/28 (Old No. 12/1214), Cadastral Survey No.94 of Bhuleshwar Division, Mumbai 400 002 2) Godown No.13, admeas.21280 sq.ft. built up area on ground floor of the house No.181/15 along with Office No.13 Admeas. 520.89 sq.ft. built up area on the upper floor of the House No.181/16 and Godown No.14, admeas.300 sq.ft. built up area on the upper floor of the house No.181/18 situated in the building known as "Arihant Premises Co-operative Society Limited, constructed on the land bearing survey No.52, Hissa nos.52, Hiss Nos.2 (part), 4(part), 5(part) and Survey No.53, hissa Nos. 1 (part), 2(part), and 2(part) of Village Val, Taluka Bhiwandi, District Thane and situated at Arihant Compound, Dapoda Road, Bhiwandi 421302

FIXED ASSETS:

• Air Conditioner
• Computer Machine
• Office Premises
• Fax Machine
• Cell Phone
• Furniture and Fixture
• Swift (Maruti)
• Santro (Car)
• Weight Machine
• Wagon R
• Innova Car
• Motor Cycle (Ambition)
• Telephone System

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.54.17
UK Pound	1	Rs.82.45
Euro	1	Rs.70.70

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.