MIRA INFORM REPORT

Report Date :

07.12.2013

IDENTIFICATION DETAILS

Name :	DOJAHAN TRADING PRIVATE LIMITED
Registered Office :	53/12, A-Khambata Chawal, 1^st Floor, Mugbhat Lane, Girgaun, Mumbai-400004, Maharashtra
Country :	India
Financials (as on) :	31.03.2012 (SUMMERIZED BALANCE SHEET)
Date of Incorporation :	21.02.2006
Com. Reg. No.:	11-159890
Capital Investment / Paid-up Capital :	Rs. 1.460 Millions
CIN No.: [Company Identification No.]	U51100MH2006PTC159890
IEC No.:	0307000184
TAN No.: [Tax Deduction & Collection Account No.]	MUMD13601A
PAN No.: [Permanent Account No.]	AACCD3340F
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Ferrous and Non Ferrous Metals
No. of Employees :	11 (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 110000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The management of the company has not filed its financials with the government department for the year 2012 and 2013. Mr. Prakash, Accountant has provided all information but the financials are not verified. As per previous year’s record, the profitability appears to be low. However, trade relations are reported as fair. Business is active. Payment terms are unknown. The company 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.

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. Prakash
Designation :	Accountant
Contact No.:	91-22-66134520
Date :	05.12.2013

LOCATIONS

Registered Office :	53/12, A-Khambata Chawal, 1^st Floor, Mugbhat Lane, Girgaun, Mumbai-400004, Maharashtra, India
Tel. No.:	91-22-66390562
Mobile No.:	91-9920205110 (Mr. Sanjay Sharma)
Fax No.:	91-22-23802825
E-Mail :	shreekk_gour@rediffmail.com bothra_01@rediffmail.com gour@prakashsteelage.com babudewasi@hotmail.com
Head Office :	Shop No 102, 1^st Floor, 65 Khushal Bhawan, 5^th Kumbharwada, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-66134520
Fax No.:	91-22-23802825

DIRECTORS

Name :	Mr. Bijalaram Hiraramji Dewasi
Designation :	Director
Address :	R. No, 29, 13^th Khetwadi Lane, Bhabha Chawl, Mumbai – 400004, Maharashtra, India
Date of Birth/Age :	02.02.1982
Qualification :	S.S.C.
Experience :	10 Years
Date of Appointment :	21.02.2006
DIN No.:	00445161
Name :	Mr. Mafatlal Dewasi
Designation :	Director
Address :	R. No, 29, 13^th Khetwadi Lane, Bhabha Chawl, Mumbai – 400004, Maharashtra, India
Date of Birth/Age :	01.07.1988
Qualification :	S.S.C
Experience :	6 Years
Date of Appointment :	25.08.2009
DIN No.:	02635889
DIN No.:

KEY EXECUTIVES

Name :	Mr. Sanjay Sharma
Designation :	Assistant Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Mafatlal V. Dewasi	2000
Hemant P. Kanugo	20
Beejlaram Dewasi	17000
Bechraram K. Dewasi	8000
Champalal A Shah	9000
Mangilal B. Burad	9000
Beetal Trading Private Limited, India	15000
Swagatam Marketing Private Limited	35000
Avance Technologies Limited, India	52500

BUSINESS DETAILS

Line of Business :	Trader of Ferrous and Non Ferrous Metals
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

GENERAL INFORMATION

Customers :	End Users
No. of Employees :	11 (Approximately)
Bankers :	· Bank of Baroda, Gulalwadi, CP Tank Road, Mumbai – 400004, Maharashtra, India Tel. No.: 91-22-22422388 · ICICI Bank Limited, Backbay Reclamation Tel. No.: 91-22-67574314

Banking Relations :	--
Auditors :
Name :	Anand Jain and Associates Chartered Accountants
Address :	46, Second Fllor, Mulji Jetha Building, Above Bank of Baroda, 187 Princess Street, Mumbai – 400 002, Maharashtra, India
Tel. No.:	91-22-22001747
Fax No.:	91-22001652
E-Mail :	lukadandjain@gmail.com

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
156520	Equity Shares	Rs.10/- each	Rs. 1.565 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
104020	Equity Shares	Rs.10/- each	Rs.1.040 Millions
52500	Equity Shares (Partly paid up )	Rs.8/- each	Rs.0.420 Million
	Total		Rs.1.460 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

SUMMERIZED BALANCE SHEET

Particular	31.03.2012
SOURCES OF FUNDS
SHAREHOLDERS FUNDS
Share Capital	1.460
Reserves & Surplus	33.277
Current Liabilities	1407.769
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]	0.050
Inventories	19.518
Sundry Debtors	182.938
Cash & Bank Balances	2.232
Other Current Assets	1.280
Loans & Advances	1236.488
Miscellaneous Expenses	0.005

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		1.460	1.460
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		28.257	26.118
4] (Accumulated Losses)		0.000	0.000
NETWORTH		29.717	27.578
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		122.343	116.350
TOTAL BORROWING		122.343	116.350
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		152.060	143.928
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.016	0.004
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	2.320
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	16.074	4.673
	Sundry Debtors	52.482	281.526
	Cash & Bank Balances	152.279	2.061
	Other Current Assets	0.000	0.000
	Loans & Advances	594.439	254.704
Total Current Assets		815.274	542.964
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	507.990	370.883
	Other Current Liabilities	153.855	30.067
	Provisions	1.423	0.465
Total Current Liabilities		663.268	401.415
Net Current Assets		152.006	141.549
MISCELLANEOUS EXPENSES		0.038	0.055
TOTAL		152.060	143.928

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	2700.169	1890.908	996.520
		Other Income	65.424		0.000
		TOTAL (A)	2765.593	1890.908	996.520
Less	EXPENSES
		Cost of Material Sold		NA	992.724
		Direct Expenses	2698.525	NA	0.042
		Administrative Expenses		NA	0.485
		Other Expenses
		TOTAL (B)	2698.525	NA	993.251
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		67.068	NA	3.269
Less	FINANCIAL EXPENSES (D)		59.697	NA	2.182
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		7.371	NA	1.087
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.075	NA	0.007
	PROFIT BEFORE TAX (E-F) (G)		7.296	NA	1.080
Less	TAX (H)		2.276	NA	0.341
	PROFIT AFTER TAX (G-H) (I)		5.020	2.139	0.739
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	0.289
	BALANCE CARRIED TO THE B/S		NA	NA	1.028
	Earnings Per Share (Rs.)		32.07	NA	4.72

Particulars	31.03.2013
Sales Turnover (Approximately)	2000.000
	Due to Market Fluctuation

The above information has been parted by Mr. Prakash

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.18	0.11	0.07
Net Profit Margin (PBT/Sales)	(%)	0.27	NA	0.11
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	0.20
Return on Investment (ROI) (PBT/Networth)		NA	NA	0.04
Debt Equity Ratio (Total Debt /Networth)		NA	26.43	18.77
Current Ratio (Current Asset/Current Liability)		NA	1.23	1.35

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	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%	Yes
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	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	No

Note: Registered office of the company has been shifted from Shatrunjay Apartment, 1^st Floor 28, Siddhi Lane, Nanubhai Desai Road, Mumbai – 400004, Maharashtra, India to the present address w.e.f.24.07.2010.

UNSECURED LOAN

Particular	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee Term Loans Unsecured	122.343	116.350
Total	122.343	116.350

INDEX OF CHARGES: NO CHARGES EXIST FOR 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 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.61.67
UK Pound	1	Rs.100.65
Euro	1	Rs.84.25

INFORMATION DETAILS

Information Gathered by :	PLK
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	NO
--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.