MIRA INFORM REPORT

Report Date :

27.06.2012

IDENTIFICATION DETAILS

Name :	BRAMHA IMPEX PRIVATE LIMITED
Registered Office :	A/54, New P K Niwas, 167/C S V Road, Ville Parle (West), Mumbai – 400056, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.04.2006
Com. Reg. No.:	11-161445
Capital Investment / Paid-up Capital :	Rs. 1.000 Million
CIN No.: [Company Identification No.]	U52190MH2006PTC161445
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Iron and Steel.
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The management has failed to file its financial for the year 2012 with the government department. As per previous year’s, the profitability of the company appears to be low. The external borrowing seems to be increasing over years. However, trade relations are reported to be fair. Business is active. Payments are reported to be unknown. The company can be considered for business dealing 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

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. Jayesh Mehta
Designation :	Director
Contact No.:	91-9594085201
Date :	26.06.2013

LOCATIONS

Registered Office :	A/54, New P K Niwas, 167/C S V Road, Ville Parle (West), Mumbai – 400056, Maharashtra, India
Tel. No.:	91-22-26247369
Mobile No.:	91-9594085201 (Mr. Jayesh Mehta)
Fax No.:	Not Available
E-Mail :	bramhaimpex.mehta@gmail.com bramhaipex@hotmail.com

Note: As confirmed by management the registered office mentioned in government registry is incorrect.

DIRECTORS

As on 30.09.2011

Name :

Mr. Manoj Nandlal Mehta

Designation :

Director

Address :

30, Putalibai Kapol Niwas, Ground Floor, S V Road, Ville Parle (West), Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

20.10.1954

Date of Appointment :

27.04.2006

DIN No.:

00238416

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	U52190MH2006PTC161445	BRAMHA IMPEX PRIVATE LIMITED	Director	27/04/2006	27/04/2006	-	Active	NO
2	U51900MH2010PTC208445	JAYASAMA MULTITRADE PRIVATE LIMITED	Director	09/02/2012	09/02/2012	-	Active	NO
3	U51101MH2010PTC208442	JAY EXIM PRIVATE LIMITED	Director	11/02/2012	11/02/2012	04/06/2012	Active	NO

Name :

Mr. Jayesh Mansukhlal Mehta

Designation :

Director

Address :

703, Crystal Classic, 154 – B, S V Road, Ville Parle (West), Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

17.10.1961

Date of Appointment :

01.04.2008

DIN No.:

02601932

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	U52190MH2006PTC161445	BRAMHA IMPEX PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
2	U51900MH2010PTC208445	JAYASAMA MULTITRADE PRIVATE LIMITED	Director	09/02/2012	09/02/2012	-	Active	NO
3	U51101MH2010PTC208442	JAY EXIM PRIVATE LIMITED	Director	11/02/2012	11/02/2012	01/02/2013	Active	NO

KEY EXECUTIVES

Name :	Mr. Jayesh Mehta
Designation :	Director
Name :	Sanjay Doshi and Associates
Designation :	Company Secretaries
Address :	Unit No. 217, Pioneer Estate, Subhash Road, Jogeshwari (East), Mumbai – 400060, Maharashtra, India
Tel No.:	91-22-28202990/28240471

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Manoj Nandlal Mehta	45000
Jayesh Mansukhlal Mehta	55000
Total	100000

As on 03.04.2012

Names of Allottees	No. of Shares
Manoj Nandlal Mehta	270000
Jayesh Mansukhlal Mehta	330000
Total	600000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Iron and Steel.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

7 (Approximately)

Bankers :

• Indian Bank, Shanmukhananda Hall Building, 292 Jayashankar, Yagnik Marg, Kings Circle, Sion (East), Mumbai – 400022, Maharashtra, India

• State Bank of Patiala, Bhavani Shankar Road Branch, Bhavani Shankar Road, Dadar (West), Mumbai – 400025, Maharashtra, India

Facilities :

Overdraft: Rs. 130.000 Millions and LC Rs. 60.000 Millions (From State Bank of Patiala)

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Indian Bank	43.117	0.000
Citi Bank	0.236	0.476
India Bulls Financial Services	0.000	0.735
Kapol Co-Operative Bank Limited. ODTD – 25B	0.393	0.393
Kotak Mahindra Bank	1.398	0.000
Cholamandal DBS Finance Limited	0.069	0.348
Standard Chartered Bank	0.850	1.507
The Federal Bank Limited	0.000	18.161
ABN Ambro Bank	0.320	0.648
Bajaj Finance Limited	2.469	0.000
Relicare Finvest Limited	1.811	2.496
Barclays Investment and Loans	2.513	2.446
Tata Capital	1.397	0.972
Total	54.573	28.182

Banking Relations :	--
Auditors :
Name :	M. G. Vashi and Company Chartered Accountants
Address :	801-A, Sunflower Gundechas Vally of Flowers, Thakur Village, Kandivali (East), Maharashtra, India
Tel. No.:	91-91-22-65250008
Mobile No.:	91-9819557007
PAN N Income-tax PAN of auditor or auditor's firm :	AGAPV1671J

CAPITAL STRUCTURE

After 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs.10/- each	Rs. 7.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs.10/- each	Rs. 7.000 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs.10/- each	Rs. 7.000 Millions

Issued, Subscribed & Paid-up Capital :

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

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		32.802	30.137	10.075
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		33.802	31.137	11.075
LOAN FUNDS
1] Secured Loans		54.573	28.182	14.942
2] Unsecured Loans		36.501	19.201	18.865
TOTAL BORROWING		91.074	47.383	33.807
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		124.876	78.520	44.882
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.643	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.001	0.001
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	40.595	39.932	24.971
	Sundry Debtors	95.407	103.683	164.048
	Cash & Bank Balances	5.646	0.916	0.543
	Other Current Assets	0.101	0.100	0.000
	Loans & Advances	0.949	0.161	12.604
Total Current Assets		142.698	144.792	202.166
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	19.274	65.302	156.620
	Other Current Liabilities	0.050	0.000	0.000
	Provisions	1.141	0.981	0.677
Total Current Liabilities		20.465	66.283	157.297
Net Current Assets		122.233	78.509	44.869
MISCELLANEOUS EXPENSES		0.000	0.010	0.012
TOTAL		124.876	78.520	44.882

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		3.806	3.144	2.153
	TAX		1.142	0.982	0.676
	PROFIT AFTER TAX		2.664	2.162	1.476
	Earnings Per Share (Rs.)		26.64	NA	NA

Particulars	31.03.2013	31.03.2012	31.03.2011
Sales Turnover (Approximately)	816.100	605.100	491.800

Expected Sales (2013-2014): Rs.850.000 Millions

The above information has been parted by Mr. Jayesh Mehta (Director)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	2.67	2.17	1.06
Return on Investment (ROI) (PBT/Networth)		0.11	0.10	0.01
Debt Equity Ratio (Total Debt /Networth)		2.69	1.52	3.05
Current Ratio (Current Asset/Current Liability)		6.97	2.18	1.29

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%	--
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)	Yes
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	No

UNSECURED LOAN

PARTICULARS	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Unsecured Loans from Director	0.000	17.726
Bharat Kiran Joshi	0.500	0.000
Hitesh Shah	0.700	0.000
Jayesh Mehta	18.804	0.000
Jayesh Mehta HUF	1.275	0.575
Priti Mitesh Joshi	0.500	0.500
Jital Mehta	3.300	0.400
Madhukant Shah	2.500	0.000
Manoj Mehta	8.922	0.000
Total	36.501	19.201

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U52190MH2006PTC161445
Name of the company	BRAMHA IMPEX PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	A/54, New P K Niwas, 167/C S V Road, Ville Parle (West), Mumbai – 400056, Maharashtra, India Email: bramhaimpex.mehta@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10323761
Type of charge	· Book debts · Movable property (not being pledge) · Stocks
Particular of charge holder	CIN: U52190MH2006PTC161445 State Bank of Patiala, Bhavani Shankar Road Branch, Bhavani Shankar Road, Dadar (West), Mumbai – 400025, Maharashtra, India Email: b5529@sbp.co.in
Nature of instrument creating charge	Supplemental Agreement of hypothecation of goods and assets Date 28th September 2012
Date of instrument Creating the charge	28.09.2012
Amount secured by the charge	Rs.145.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base Rate + 4.50% i.e. presently 15.00% p.a. with monthly rests 1% extra for adhoc limit of Rs 15.000 Millions Terms of Repayment As stipulated by Bank from time to time Margin 25% on stock and book debts Extent and Operation of the charge First Charge over Stock and Book Debts Others 2THS
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of the entire stocks.machinery books debts, current and fixed assets lying/installed in the factory premises/godown/shop present and future
Particulars of the present modification	Vide supplemental agreement of hypothecation of goods and assets dt 28th September 2012 additional adhoc limit of Rs 15.000 Millions was granted, thus making the total over all limits from 130.000 Millions to 145.000 Millions.

FIXED ASSETS

• Computer
• Office Furniture and Interior
• Car
  

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 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.59.85
UK Pound	1	Rs.92.31
Euro	1	Rs.78.23

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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

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.