MIRA INFORM REPORT

Report Date :

16.07.2013

IDENTIFICATION DETAILS

Name :	PUNYA ENTERPRISES LIMITED
Registered Office :	Plot No.1434, Kinjalnagar, Post Rajpur, Taluka Kadi, Kalol - Mehsana Highway, Mehsana – 382 715, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	15.11.2007
Com. Reg. No.:	04-052166
Capital Investment / Paid-up Capital :	Rs.0.500 million
CIN No.: [Company Identification No.]	U74900GJ2007PLC052166
TAN No.: [Tax Deduction & Collection Account No.]	AHMP09291C
PAN No.: [Permanent Account No.]	AAECP4779N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader of all types of Metals.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

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 :	Yet to commence business activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the subject company was incorporated during November 2007, it is yet to commence its business activity. There appear some pre-operative expenses recorded by the company. Payment terms are unknown. The company can be considered for business dealings on a safe and secured trade terms and conditions.

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

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 :	Plot No.1434, Kinjalnagar, Post Rajpur, Taluka Kadi, Kalol - Mehsana Highway, Mehsana – 382 715, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9820010105 (Mr. Harishbhai Shah)
Fax No.:	Not Available
E-Mail :	shahharishp@yahoo.com

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Sanjaykumar Rashiklal Shah

Designation :

Additional Director

Address :

F 3, Chintan Flat In Nayan Nagar, Krushnanagar, Saijpur, Bogha, Ahmedabad – 382 345, Gujarat, India

Date of Birth/Age :

19.01.1972

Date of Appointment :

15.03.2008

DIN No.:

02021714

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	U27101MH1995PLC088702	KINJAL INDUSTRIES LIMITED	Director	29/08/1995	29/08/1995	-	Active	NO
2	U45200MH1995PLC089596	KINRICH DEVELOPERS LIMITED	Director	21/09/1995	21/09/1995	-	Dormant	NO
3	U67120MH1995PLC090397	KINJAL HOLDINGS LIMITED	Director	16/10/1995	16/10/1995	-	Dormant	NO
4	U51900MH1999PTC120218	PURVESH MARKETING PRIVATE LIMITED	Director	21/04/2006	21/04/2006	-	Dormant	NO
5	U74900GJ2007PLC052166	PUNYA ENTERPRISES LIMITED	Additional director	15/03/2008	15/03/2008	-	Active	NO
6	U99999GJ2000PTC038289	BROWN METAFAB PRIVATE LIMITED	Director	15/03/2008	15/03/2008	-	Active	NO
7	U27310GJ2007PTC052286	HERITAGE METASTEEL PRIVATE LIMITED	Director	15/03/2012	15/03/2012	-	Active	NO

Name :

Mr. Bhagwanaram Kojaram Bishnoi

Designation :

Additional Director

Address :

Ishwar Bhavan, 2^nd Floor, R/16, 4^th X Lane, Khtwadi Back Road, Mumbai – 400 004, Maharashtra, India

Date of Birth/Age :

23.06.1970

Date of Appointment :

01.02.2009

DIN No.:

02484993

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	U27101MH1995PLC088702	KINJAL INDUSTRIES LIMITED	Director	29/08/1995	29/08/1995	-	Active	NO
2	U45200MH1995PLC089596	KINRICH DEVELOPERS LIMITED	Director	21/09/1995	21/09/1995	-	Dormant	NO
3	U67120MH1995PLC090397	KINJAL HOLDINGS LIMITED	Director	16/10/1995	16/10/1995	-	Dormant	NO
4	U51900MH1999PTC120218	PURVESH MARKETING PRIVATE LIMITED	Director	20/04/2006	20/04/2006	-	Dormant	NO
5	U74900GJ2007PLC052166	PUNYA ENTERPRISES LIMITED	Additional director	01/02/2009	01/02/2009	-	Active	NO
6	U99999GJ2000PTC038289	BROWN METAFAB PRIVATE LIMITED	Director	01/02/2009	01/02/2009	-	Active	NO
7	U27310GJ2007PTC052286	HERITAGE METASTEEL PRIVATE LIMITED	Director	01/02/2009	01/02/2009	-	Active	NO

Name :

Mr. Tarunkumar Chimanlal Shah

Designation :

Additional Director

Address :

3490/2, Shahpur Darvajano Khancho, Shahpur, Ahmedabad – 380 001, Gujarat, India

Date of Birth/Age :

19.04.1954

Date of Appointment :

16.02.2010

DIN No.:

02912177

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Ankita H. Shah	7000
Bajranglal B. Agarwal	7000
Bhagwanaram K. Bishnoi	7000
Dilipkumar Angara	8000
Pushpadevi Agarwal	7000
Uttam N. Mehta	7000
Vittu B. Agarwal	7000
Total	50000

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :

Trader of all types of Metals.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	J.R. Kanase and Associates Chartered Accountants
Address :	D-19, Shanti Shopping Centre, Near Railway Station, Mira Road, Thane – 401 107, Maharashtra, India
Mobile No.:	91-9820360877
PAN No:	AIFPK1494B

CAPITAL STRUCTURE

AFTER 29.09.2012

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
50000	Equity Shares	Rs.10/- each	Rs.0.500 million

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	0.500	0.500
(b) Reserves & Surplus	(0.231)	(0.207)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.761	0.761
Total Shareholders’ Funds (1) + (2)	1.030	1.054
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) Long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	0.000	0.000
(d) Short-term provisions	0.010	0.007
Total Current Liabilities (4)	0.010	0.007
TOTAL	1.040	1.061
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.023	0.030
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	0.023	0.030
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	0.021	0.025
(e) Short-term loans and advances	0.986	0.986
(f) Other current assets	0.010	0.020
Total Current Assets	1.017	1.031
TOTAL	1.040	1.061

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.500
2] Share Application Money		0.761
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.152)
NETWORTH		1.109
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.109
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.039
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	2.387
	Cash & Bank Balances	0.035
	Other Current Assets	0.000
	Loans & Advances	1.318
Total Current Assets		3.740
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.695
	Other Current Liabilities	0.000
	Provisions	0.005
Total Current Liabilities		2.700
Net Current Assets		1.040
MISCELLANEOUS EXPENSES		0.030
TOTAL		1.109

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	0.000	0.000	0.000
		Other Income	0.000	0.000	0.000
		TOTAL (A)	0.000	0.000	0.000
Less	EXPENSES
		Telephone Bill	0.000	0.018	0.039
		Electricity Expenses	0.000	0.008	0.017
		Preliminary Expenses Written off	0.010	0.010	0.010
		Legal Fees and Subscription	0.003	0.003	0.003
		TOTAL (B)	0.013	0.039	0.069
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.013)	(0.039)	(0.069)
Less	FINANCIAL EXPENSES (D)		0.005	0.007	0.007
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.018)	(0.046)	(0.076)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.006	0.009	0.013
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(0.024)	(0.055)	(0.089)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(0.024)	(0.055)	(0.089)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.207)	(0.152)	(0.063)
	BALANCE CARRIED TO THE B/S		(0.231)	(0.207)	(0.152)
	Earnings / (Loss) Per Share (Rs.)		(0.48)	(1.42)	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.00	0.00	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(2.31)	(5.18)	(2.36)
Return on Investment (ROI) (PBT/Networth)		(0.02)	(0.05)	(0.08)
Debt Equity Ratio (Total Debt/Networth)		0.01	0.01	0.00
Current Ratio (Current Asset/Current Liability)		101.70	147.29	1.39

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	No
9) Name of person contacted	No
10) Designation of contact person	No
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	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	No
24) Banking facility details	No
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 company has not earned Income. Company has incurred a Loss of Rs.0.024 million in the current year.

FIXED ASSETS:

· Computers

· Air Conditioner

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.60.05
UK Pound	1	Rs.90.71
Euro	1	Rs.78.47

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	-
--CREDIT LINES	1~10	2
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.