MIRA INFORM REPORT

Report Date :

01.06.2013

IDENTIFICATION DETAILS

Name :	ACHILLES COMMODITIES TRADING CC

Registered Office :	677 Umgeni Road, Durban, 4001

Country :	South Africa

Date of Incorporation :	23.11.2000

Com. Reg. No.:	B2000/070534/23

Legal Form :	Closed Corporation

Line of Business :	Exporter of scrap metal, metal recyclers

No. of Employees :	04

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

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)

South Africa

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

South Africa ECONOMIC OVERVIEW

South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors and a stock exchange that is the 15th largest in the world. Even though the country possesses modern infrastructure that support a relatively efficient distribution of goods to major urban centers throughout the region, some components retard growth. The economy began to slow in the second half of 2007 due to an electricity crisis. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Subsequently, the global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then. Unemployment, poverty, and inequality remain a challenge, with official unemployment at nearly 25% of the work force. State power supplier Eskom has built two new power stations and installed new power demand management programs to improve power grid reliability. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.

Source : CIA

Subject Name	ACHILLES COMMODITIES TRADING CC
Country	South Africa
Subject Contact Person	ASHOK BANSAL - Managing Member
Assessment	This is a well-established family business. On investigation contact was made with the Managing Member MR. ASHOK BANSAL who assisted with the company information. As the subject deals mainly in the export of it's products, it does not have many suppliers as such only 1 trade reference was made available. We are awaiting 1 further trade reference. The financial information is deemed confidential. Please see the available information obtained below.

Auditors information

Company Registered Name	KISHORE RAGUNANAN AND CO
Trading Name	RAGUNANDAN
Registration Number	5905305046059 (Sole Proprietor)
Physical Address	63 VARSITY DRIVE, RESERVIOR HILLS, DURBAN, 4091
Postal Address	P 0 BOX 2769, DURBAN, Kwa-Zulu Natal, 4000
Contact Person	KISHORE RAGUNANAN
Contact Number	0312629846
Principals	1
Judgements Against Subject	None on record
Judgements Against Principals	None on record
Subject Verified as Client	Yes
Practice Number	1128
VAT Number	Unavailable
Tax Number	Unavailable
BEE Status	None
Financial Year End	Unavailable
Website	None

Previous Auditors

Company Name	Phone Number	Time with previous auditors	Comment
PATEL AND PATEL		Unknown

Tax information

Vat Number	4810195240
Status	ACTIVE
Vat Liable Date	2001/11/01
Tax Number	9583101143
Financial Year End	October

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Work Mans Information - No Information on Record

Company Structure

Subsidiaries Information - No Information on Record

Employees
Number of Employees	4
1. Salaried employees	4
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	1
Comment
Busses	1	Owned		R0.00

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	CRAYDON
Lease Agreement	5 YEARS
Type of Premises	OFFICES

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Managing Member	ASHOK BANSAL

1	Member	AKASH BANSAL

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
75 % - ASHOK BANSAL	ACHILLES COMMODITIES TRADIND CC
25 % - AKASH BANSAL	ACHILLES COMMODITIES TRADIND CC

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	HARD TRUCKS	0415810696

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	0			0		0	Awaiting trade reference.

Adverse Information on Subject

Judgements - No information on record

Business Rescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank information

Bank	STANDARD BANK
Branch	ROSSETA ROAD
Brach Code	051001
Bank Account Number	DEEMED CONFIDENTIAL
Type of Account	CURRENT
Account Name	ACHILLES COMMODITIES TRADIND CC
Overdraft Facilities	YES
Bank Code	P
Bank Comment	A bank code could not be obtained as the subject declined to provide a bank account number.

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information

Property Interests for Company ACHILLES COMMODITIES TRADING CC

Title Deed No.	ST59490/2006	Erf/Site No.	11380,2
Deeds Office	PIETERMARITZBURG	Physical Address	25 OLD FORT NORTH BEACH DURBAN
Property Type	Sectional Title	Extent / Size	132.0SQM
Purchase Date	2006/08/04	Purchase price
% Ownership	0.00	Bond Holder	STANDARD BANK OF SOUTH AFRICA L
Bond Number	SB727102006	Bond Amount

Principals

Number of Principals	4
Average Age of Active Principals	47

Active Principals Principal - 1of 2 AKASH BANSAL

Surname	BANSAL
First Name	AKASH
Other Names	None
Marital Status
ID Number	7612305798188
Verified ID Number	Yes
Current Age	37
Designation	Member
Status	Active
Appointment Date	2003/07/17
Physical Address (at time of Appointment)	126 MARINE SANDS, 237 MARINE PARADE, DURBAN, 4001
Postal Address	PO BOX 10558, MARINE PARADE, 4056
Current Tel Number	0313125053
Cell number
Shareholding/Membership	25 %

Principal's Adverse - No information on record

Business Information for AKASH BANSAL

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
ACHILLES COMMODITIES TRADING CC	B2000/070534/23	In Business	12 Years 6 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 8 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
SIRION TECHNOLOGY CC	2003/106004/23	Deregistration Final	9 Years 5 Months	0	No
MINDTREE TECHNOLOGIES (PTY) LTD	M2004/033021107	In Business	8 Years 6 Months	0	No

Principal's Deeds Information - No information on record

Principal - 2of 2 ASHOK BANSAL

Surname	BANSAL
First Name	ASHOK
Other Names	KUMAR
Marital Status
ID Number	4404045992187
Verified ID Number	Yes
Current Age	69
Designation	Managing Member
Status	Active
Appointment Date	2003/07/17
Physical Address (at time of Appointment)	126 MARINE SANDS, 237 MARINE PARADE, DURBAN, 4001
Postal Address	P 0 BOX 10558, MARINE PARADE, 4056
Current Tel Number	0313125053
Cell number	0828858925
Shareholding/Membership	75 %

Principal's Adverse - No information on record

Business Information for ASHOK BANSAL

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
ACHILLES COMMODITIES TRADING CC	B2000/070534/23	In Business	12 Years 6 Months	0	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.49
UK Pound	1	Rs.86.01
Euro	1	Rs.73.68

INFORMATION DETAILS

Report Prepared by :

MNL

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	----

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%)

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.

Registered Name	ACHILLES COMMODITIES TRADING CC
Trading as/ Division Name	None
Previous Name	None
Date of Name Change	Sep 21 2010 12:00AM
Registration Number	B2000/070534/23
Registration Date	2000/11/23
Date Commenced Trading	2000-11-23
Age of Business	12 Years 6 Months
History of Business	The subject was established as a new business in 2000 and operations commenced immediately.
History of Principals	There are 2 active members within the business.
Shareholders/Members/Partners of subject and % holding	25 % - AKASH BANSAL, 75 % - ASHOK KUMAR BANSAL
Authorised Share Capital	R1000.00
Issued Share Capital/Members Contribution	R 100.00
Status	In Business
Operations Assessment	Export of scrap metal, metal recyclers
Industry/ Customers	Export of scrap metals to India.
Export	Yes
Export Countries	India
Major Industry Code / SICC	39510
Definition of Code	Recycling of metal waste and scrap n.e.c.
Head Office Physical Address	677 UMGENI ROAD, DURBAN, 4001
Head Office Postal Address	PO BOX 10558, MARINE PARADE, 4056
Current Tel Number	0313125053
Cell Number	0823125868
Current Fax Number	0318858925