MIRA INFORM REPORT

Report Date :

04.12.2013

IDENTIFICATION DETAILS

Name :	CHANDRA COAL PRIVATE LIMITED
Registered Office :	104/105, Honey Ritika Apartments, Shastri Nagar Road, Ambedkar Square, Nagpur – 440 008, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	21.10.2005
Com. Reg. No.:	11-156954
Capital Investment / Paid-up Capital :	Rs.9.289 millions
CIN No.: [Company Identification No.]	U10102MH2005PTC156954
TAN No.: [Tax Deduction & Collection Account No.]	NGPC03031A
PAN No.: [Permanent Account No.]	AACCC6997P
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Coal.
No. of Employees :	7 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 133000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has reported a better increase in its sales turnover as well as net profitability during 2013. The ratings also take into consideration the company’s above average financial risk profile marked by modest networth and modest scale of operations. However, trade relations are fair. Business is active. Payment terms are reported as slow but correct. In view of extensive industry experience of the promoter, the subject can be considered for business dealings with some caution.

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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating: B
Rating Explanation	High risk of default.
Date	March 19, 2013

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. Ajay
Designation :	Accounts Department
Contact No.:	91-712-2769607
Date :	03.12.2013

LOCATIONS

Registered Office :	104/105, Honey Ritika Apartments, Shastri Nagar Road, Ambedkar Square, Nagpur – 440 008, Maharashtra
Tel. No.:	91-712-2769607/ 2765583
Fax No.:	Not Available
E-Mail :	sumit@chandragroup.co.in info@chandragroup.co.in csccoal@rediffmail.com
Website :	http://chandragroup.co.in
Location :	Owned

DIRECTORS

AS ON 28.09.2013

Name :

Mr. Shailendra Kailashchandra Agrawal

Designation :

Director

Address :

8, Vaibhav, Behind NNSBL Ambedkar Square, C.A. Road, Nagpur – 440 008, Maharashtra, India

Date of Birth/Age :

16.09.1971

Date of Appointment :

21.10.2006

DIN No.:

00766617

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U10102MH2005PTC156954	CHANDRA COAL PRIVATE LIMITED	Director	21/10/2006	21/10/2006	-	Active	NO
2	U74990MH2010PTC209522	LEAF ENTERPRISES (INDIA) PRIVATE LIMITED	Director	27/10/2010	27/10/2010	-	Active	NO
3	AAB-5071	TANGERINE FINANCIAL ADVISORS LLP	Designated Partner	09/05/2013	09/05/2013	-	Active	NO

Name :

Kamal Kailashchandra Agrawal

Designation :

Director

Address :

8, Vaibhav, Behind NNSBL Ambedkar Square, C.A. Road, Nagpur – 440 008, Maharashtra, India

Date of Birth/Age :

03.08.1968

Date of Appointment :

21.10.2005

DIN No.:

00766627

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U10102MH2005PTC156954	CHANDRA COAL PRIVATE LIMITED	Director	21/10/2005	21/10/2005	-	Active	NO
2	U74900MH2008PTC181287	RAHI INDIA PRIVATE LIMITED	Director	18/04/2008	18/04/2008	01/10/2009	Active	NO

Name :

Mr. Sanjay Kailashchandra Agrawal

Designation :

Director

Address :

8, Vaibhav, Behind NNSBL Ambedkar Square, C.A. Road, Nagpur – 440 008, Maharashtra, India

Date of Birth/Age :

10.11.1972

Date of Appointment :

21.10.2006

DIN No.:

01875623

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U10102MH2005PTC156954	CHANDRA COAL PRIVATE LIMITED	Director	21/10/2006	21/10/2006	-	Active	NO
2	U24100MH2011PTC218408	FLAMAR TECHCHEM PRIVATE LIMITED	Director	07/06/2011	07/06/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ajay
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2013

Names of Shareholders	No. of Shares
Sanjay Agrawal	20850
Shailendra Agrawal	30300
Kamal Agrawal	7300
Kajal Agrawal	1025
Kailash Agrwal	3545
Archana Agrawal	500
Keshardevi Agrawal	150
Dilip Agrawal	400
Anita Agrawal	350
Shailendra Agrawal (HUF)	165
Prabhadevi Agrawal	13000
Kavita Agrawal	15000
Sanjay Agrawal HUF	100
Kamal Agrawal HUF	100
Kailash Agrawal HUF	100
Total	92885

AS ON 28.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Trader of Coal.
Terms :
Purchasing :	Depend

GENERAL INFORMATION

Customers :

Wholesalers and Others

No. of Employees :

7 (Approximately)

Bankers :

· State Bank of India, SME Branch, Opposite Agrasen Chatravas, Amravati Road, Nagpur – 440 033, Maharashtra, India

· ICICI Bank Limited

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Sundaram Finance Limited (Secured against hypothecation of motor car)	0.000	0.063
ICICI Bank Limited (Secured against hypothecation of motor car)	1.000	0.000
SHORT TERM BORROWINGS
Working Capital Loan
State Bank of India Cash Credit	63.494	57.905
Total	64.494	57.968

Notes:

SHORT TERM BORROWINGS

Secured by:

i) Primary Security :

Exclusive 1^st Charge by hypothecation of entire stocks, book debts, outstanding moneys, receivable, claims and bills of the company.

ii) Collateral Security :

a) Equitable mortgage of House at Surya Nagar, Nagpur in the name of all the three directors and Prabha Devi Agrawal.

b) Equitable mortgage of Office Block at Shastri Nagar in the name of Sanjay Agrawal and Kamal Agrawal.

c) Equitable mortgage of Office Block at Ambedkar Chowk in the name of all the three Directors.

iii) Personal guarantees of Prabha Devi Agrawal and Three directors of the company

Banking Relations :	--
Financial Institution :	Sundaram Finance Limited
Auditors :
Name :	R.A. Gupta and Associates Chartered Accountants
Address :	34, VCA Complex, C.K. Naidu Chowk, Civil Lines, Nagpur – 440 001, Maharashtra, India
Tel. No.:	91-712-2549635
Mobile No.:	91-9823173140
PAN No.:	ABEPG6191M
Associates/Subsidiaries :	Chandra Sales Corporation

CAPITAL STRUCTURE

AS ON 28.09.2013

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
92885	Equity Shares	Rs.100/- each	Rs.9.289 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	9.289	7.659	4.858
(b) Reserves & Surplus	23.861	13.051	10.330
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	1.630	1.300
Total Shareholders’ Funds (1) + (2)	33.150	22.340	16.488
(3) Non-Current Liabilities
(a) Long-term borrowings	16.310	20.889	10.797
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	16.310	20.889	10.797
(4) Current Liabilities
(a) Short term borrowings	63.494	57.905	45.137
(b) Trade payables	90.605	54.138	44.827
(c) Other current liabilities	14.511	2.412	5.037
(d) Short-term provisions	1.480	1.217	0.713
Total Current Liabilities (4)	170.090	115.672	95.714
TOTAL	219.550	158.901	122.999
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.292	0.912	0.918
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2.292	0.912	0.918
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	20.783	4.138	0.523
(c) Trade receivables	171.811	119.872	88.985
(d) Cash and cash equivalents	4.298	2.292	8.292
(e) Short-term loans and advances	14.810	28.518	21.487
(f) Other current assets	5.556	3.169	2.794
Total Current Assets	217.258	157.989	122.081
TOTAL	219.550	158.901	122.999

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from Operations	458.179	424.741	484.022
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses	NA	NA	NA
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT / (LOSS) AFTER TAX		4.790	2.721	1.593
	Earnings / (Loss) Per Share (Rs.)		51.57	35.53	32.79

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt/Networth)	2.41	3.53	3.39
Current Ratio (Current Asset/Current Liability)	1.28	1.37	1.27

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) 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	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	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
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	Yes

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10127509	10/12/2011 *	70,000,000.00	STATE BANK OF INDIA	SME BRANCH, OPPOSITE AGRASEN CHATRAVAS, AMRAVATI ROAD, NAGPUR, MAHARASHTRA - 440033, INDIA	B30901698

* Date of charge modification

Unsecured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
From Others	15.310	20.826
Total	15.310	20.826

Note:

The registered office of the company has been shifted from 8, Vaibhav, Behind Nagpur Nagrik Sahakari Bank, Ambedkar Square, C.A. Road, Nagpur – 440 008, Maharashtra to the present address w.e.f. 01.01.2010.

FINANCIAL RESULT:

During the year the company has achieved a turnover of Rs.458.179 millions and net profit after tax of Rs.4.790 millions.

FIXD ASSETS:

· Computer

· Air Conditioner

· Furniture and Fixture

· Fax Machine

· Car

· Tea Coffee Machine

· Tauras Safe

· Note Counting Machine

· Camera

· Inverter

· Mobile Phone

· Two Wheeler

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 Declration :

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.62.34
UK Pound	1	Rs.102.06
Euro	1	Rs.84.46

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	SMN

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	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		33

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.