MIRA INFORM REPORT

Report Date :

26.02.2013

IDENTIFICATION DETAILS

Name :	NAMCO COMMODITIES PRIVATE LIMITED (w.e.f. 12.03.2012)
Formerly Known As :	NAMCO COAL PRIVATE LIMITED (w.e.f.12.09.2011) LONGRANGE INFRASTRUCTURE PRIVATE LIMITED
Registered Office :	Nav Vyapar Bhavan, 49, P.D. Mello Road, Carnac Bunder, 5th Floor, Office No-525, 526,527, Mumbai – 400009, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	24.07.2009
Com. Reg. No.:	11-194346
Capital Investment / Paid-up Capital :	Rs.50.000 Millions
CIN No.: [Company Identification No.]	U45400MH2009PTC194346
PAN No.: [Permanent Account No.]	AABCL6621J
Legal Form :	Private Limited Liability Company
Line of Business :	To carry on the business of purchase, sale, manufacture, process, import, export, buyers, sellers, traders, merchants, distribution, deal in, to act as indent or agent, commission agent, distributors, wholesellers, retailers, broker, contractor, or otherwise deal in all and very kind description varieties, shape, size, colour, description and application of all types of goods, products, articles, consumables, durable products, consumable items, food items, clothes, jewellery, home appliances and related items.
No. of Employees :	Not Available

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 610000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject belongs to the ‘Namco Group’. It is an established company having a moderate track record. The management of the company has failed to file its financials with the government department for the year 2012. As per the financials of 2011, the profitability of the company appeared to be low. However, business is active. Payment terms are slow but correct. 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 – 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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	A4 (Short Term Bank Facilities)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	May 23, 2012

Rating Agency Name	CARE
Rating	BB- (Long Term Bank Facilities)
Rating Explanation	Moderate risk of default.
Date	May 23, 2012

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.

LOCATIONS

Registered Office :	Nav Vyapar Bhavan, 49, P.D. Mello Road, Carnac Bunder, 5th Floor, Office No-525, 526,527, Mumbai – 400009, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	namit@namcocorp.com

DIRECTORS

As on: 31.12.2010

Name :

Mr. Namit Vijay Soni

Designation :

Director

Address :

19/2, Manorama Ganj, Indore - 452001, Madhya Pradesh, India

Date of Appointment :

24.07.2009

DIN No.:

01411732

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	U51909MH2007PTC172447	DARSHAN MERCANTILE PRIVATE LIMITED	Additional director	23/07/2007	23/07/2007	-	Active	NO
2	U27320MH2007PLC173515	NAMCO CORP LIMITED	Managing director	31/03/2009	27/08/2007	-	Active	NO
3	U36912MH2008PTC178488	TRUE VALUE DIAMONDS PRIVATE LIMITED	Director	05/02/2008	05/02/2008	-	Active	NO
4	U51909MH2009PTC194346	NAMCO COMMODITIES PRIVATE LIMITED	Director	24/07/2009	24/07/2009	-	Active	NO
5	U27101MH2009PTC194593	NAMCO INDUSTRIES PRIVATE LIMITED	Director	03/08/2009	03/08/2009	-	Active	NO
6	U45200MP2010PTC023677	NAMCO REALITY PRIVATE LIMITED	Director	31/05/2010	31/05/2010	-	Active	NO
7	U70100MP2010PTC024137	VISIONARY REALINFRA PRIVATE LIMITED	Director	18/08/2010	18/08/2010	19/02/2011	Active	NO
8	U45400HR2007PTC036927	PANACEA WAREHOUSING AND INFRASTRUCTURES PRIVATE LIMITED	Additional director	14/09/2010	14/09/2010	-	Active	NO
9	U65921MH1994PTC084190	SKYSCRAPPERS DEVELOPERS PRIVATE LIMITED	Director	22/12/2010	22/12/2010	-	Active	NO
10	U51101MH2012PTC234481	ATZ CORP PRIVATE LIMITED	Director	14/08/2012	14/08/2012	-	Active	NO

Name :

Mr. Vijay Janakraj Soni

Designation :

Director

Address :

19/2, Manorama Ganj, Indore - 452001, Madhya Pradesh, India

Date of Appointment :

24.07.2009

Date of Ceasing :

01.10.2011

DIN No.:

00309610

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	U27105MH1985PLC200485	SONI ISPAT LIMITED	Director	07/01/1985	07/01/1985	17/03/2012	Under liquidation	NO
2	L27100MH1971PLC015144	METALMAN INDUSTRIES LIMITED	Whole-time director	01/07/1994	01/07/1994	17/03/2012	Active	NO
3	U51900MH1997PLC111832	AMULYA EXPORTS LIMITED	Director	05/02/2003	05/02/2003	17/03/2012	Active	YES
4	U45200MH2007PTC170924	BHAVIKA INFRASTRUCTURES PRIVATE LIMITED	Director	23/05/2007	23/05/2007	-	Active	YES
5	U51909MH2007PTC172447	DARSHAN MERCANTILE PRIVATE LIMITED	Additional director	23/07/2007	23/07/2007	25/03/2011	Active	NO
6	U27320MH2007PLC173515	NAMCO CORP LIMITED	Director	30/09/2011	27/08/2007	05/03/2012	Active	NO
7	U36912MH2008PTC178488	TRUE VALUE DIAMONDS PRIVATE LIMITED	Director	05/02/2008	05/02/2008	25/03/2011	Active	NO
8	U51909MH2009PTC194346	NAMCO COMMODITIES PRIVATE LIMITED	Director	24/07/2009	24/07/2009	01/10/2011	Active	NO
9	U27101MH2009PTC194593	NAMCO INDUSTRIES PRIVATE LIMITED	Director	03/08/2009	03/08/2009	18/12/2010	Active	NO
10	U45200MP2010PTC023677	NAMCO REALITY PRIVATE LIMITED	Director	31/05/2010	31/05/2010	25/03/2011	Active	NO
11	U70100MP2010PTC024137	VISIONARY REALINFRA PRIVATE LIMITED	Director	18/08/2010	18/08/2010	19/02/2011	Active	NO
12	U45400HR2007PTC036927	PANACEA WAREHOUSING AND INFRASTRUCTURES PRIVATE LIMITED	Additional director	14/09/2010	14/09/2010	25/03/2011	Active	NO

Name :

Mr. Amit Gautam Pandey

Designation :

Director

Address :

Block No 2,3 Road Floor Abbas Manzil, Opposite Cigrate Factory, Saharroad Chakala Andheri (East), Mumbai – 400099, Maharashtra, India

Date of Birth/Age :

27.08.1984

Date of Appointment :

24.07.2009

Date of Ceasing :

24.07.2009

DIN No.:

02264133

Name :

Mr. Manoj Surendra Pachlangia

Designation :

Director

Address :

Harmoni Co-Operative Housing Society Limited, Plot No.206/207, 2nd Floor, Geeta Nagar, Fatak Road, Bhayander (West), Mumbai – 401101, Maharashtra, India

Date of Birth/Age :

08.06.1975

Date of Appointment :

24.07.2009

Date of Ceasing :

24.07.2009

DIN No.:

01682948

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 31.12.2010

Names of Shareholders	No. of Shares
Namit Soni, 19/2, Manorama Ganj, Indore - 452001, Madhya Pradesh, India	5000
Vijay Soni, 19/2, Manorama Ganj, Indore - 452001, Madhya Pradesh, India	5000
Total	10000

As on: 25.03.2011

Names of Allottee	No. of Shares
Anuradha Soni, 19/2, Manorama Ganj, Indore - 452001, Madhya Pradesh, India	1595000
Namit Soni, 19/2, Manorama Ganj, Indore - 452001, Madhya Pradesh, India	1695000
Ujjwal Soni, Manorama Ganj, Indore - 452001, Madhya Pradesh, India	1700000
Total	4990000

Equity Share Break up (Percentage of Total Equity)

As on: 31.12.2010

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

To carry on the business of purchase, sale, manufacture, process, import, export, buyers, sellers, traders, merchants, distribution, deal in, to act as indent or agent, commission agent, distributors, wholesellers, retailers, broker, contractor, or otherwise deal in all and very kind description varieties, shape, size, colour, description and application of all types of goods, products, articles, consumables, durable products, consumable items, food items, clothes, jewellery, home appliances and related items.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Punjab and Maharashtra Co-operative Bank Limited, No. 4 and 5, 3rd Floor, Dreams Mall, L.B.S. Marg, Bhandup (West), Mumbai - 400078, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Working capital loans banks secured	97.278	0.000
Total	97.278	0.000

Banking Relations :	--
Auditors :
Name :	Dafria and Company Chartered Accountants
Address :	A-2, Megh Building, 13/2 M G Road, Indore – 452001, Madhya Pradesh, India
PAN No.:	AAFFD3075M

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		50.000	0.100
2] Share Application Money		95.000	0.000
3] Reserves & Surplus		8.383	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		153.383	0.100
LOAN FUNDS
1] Secured Loans		97.278	0.000
2] Unsecured Loans		30.000	6.121
TOTAL BORROWING		127.278	6.121
DEFERRED TAX LIABILITIES		0.075	0.000
TOTAL		280.736	6.221
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		11.738	6.081
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	274.240	0.000
	Sundry Debtors	703.396	0.000
	Cash & Bank Balances	176.014	0.124
	Other Current Assets	0.000	0.000
	Loans & Advances	112.310	0.000
Total Current Assets		1265.960	0.124
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	284.484	0.000
	Other Current Liabilities	712.846	0.003
	Provisions	0.000	0.000
Total Current Liabilities		997.330	0.003
Net Current Assets		268.630	0.121
MISCELLANEOUS EXPENSES		0.368	0.019
TOTAL		280.736	6.221

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	2028.227	0.000
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses	2015.524	0.000
		TOTAL
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		12.703	0.000
Less/ Add	DEPRECIATION/ AMORTISATION		0.150	0.000
	PROFIT BEFORE TAX		12.553	0.000
Less	TAX		4.170	0.000
	PROFIT AFTER TAX		8.383	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000	0.000
	BALANCE CARRIED TO THE B/S		8.383	0.000
	IMPORTS
		Import	880.701	0.000
	TOTAL IMPORTS		880.701	0.000
	Earnings Per Share (Rs.)		1.68	0.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	0.41	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.98	0.00
Return on Investment (ROI) (PBT/Networth)		0.08	0.00
Debt Equity Ratio (Total Debt/Networth)		0.83	61.21
Current Ratio (Current Asset/Current Liability)		0.27	41.33

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	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	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	No
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

UNSECURED LOAN

(Rs. In Millions)

	As on 31.03.2011	As on 31.03.2010
Working capital loans others unsecured	30.000	6.121
Total	30.000	6.121

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U51909MH2009PTC194346
Name of the company	NAMCO COMMODITIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Nav Vyapar Bhavan, 49, P.D. Mello Road, Carnac Bunder, 5th Floor, Office No-525, 526,527, Mumbai – 400009, Maharashtra, India E-mail: namit@namcocorp.com
This form is for	Creation of charge
Type of charge	· Book debts · Movable property (not being pledge)
Particular of charge holder	Punjab and Maharashtra Co-operative Bank Limited, No. 4 and 5, 3rd Floor, Dreams Mall, L.B.S. Marg, Bhandup (West), Mumbai - 400078, Maharashtra, India E-mail: anitauppal@pmcbank.com
Nature of instrument creating charge	Deed of Hypothecation
Date of instrument Creating the charge	23.06.2012
Amount secured by the charge	Rs.215.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As may be decided, from time to time, by the Bank. Margin As may be decided, from time to time, by the Bank. Extent and Operation of the charge To secure the due repayment of Inland / Import cum Buyers Credit facility of Rs.215.000 Millions, together with interest, costs, charges and expenses etc. thereon, granted by the Bank to the Company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All, present and future, Stock and Book-Debts 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 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.54.04
UK Pound	1	Rs.81.80
Euro	1	Rs.71.41

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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		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	-

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.