MIRA INFORM REPORT

Report Date :

07.03.2013

IDENTIFICATION DETAILS

Name :	MAHALA COKE PRODUCTS PRIVATE LIMITED
Registered Office :	Chandikhole Chhak, P.O. Sunguda, Jajpur – 754 024, Orissa
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	27.05.2004
Com. Reg. No.:	15-007613
Capital Investment / Paid-up Capital :	Rs.5.000 millions
CIN No.: [Company Identification No.]	U23101OR2004PTC007613
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Low Ash Phos. Metallurgical Coke.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Closed Down
Payment Behaviour :	--
Litigation :	--
Comments :	Mr. Prasanna Kumar, Managing Director has confirmed that the subject was closed down since 2011. As per the registrar of companies, the management has not filed its financials since 2010. The company cannot be considered for business dealings as it is closed down.

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

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. Prasanna Kumar Mahala
Designation :	Managing Director
Contact No.:	91-9437020048
Date :	25.02.2013

LOCATIONS

Registered Office :	Chandikhole Chhak, P.O. Sunguda, Jajpur – 754 024, Orissa, India
Tel. No.:	91-6725-220048
Mobile No.:	91-9437020048 (Mr. Prasanna Kumar Mahala)
Fax No.:	Not Available
E-Mail :	sanpat68@rediffmail.com
Factory :	Village (Muraripur), P.O. Saragada Mukundapur, Via - Jenapur, Jajpur – 755 023, Orissa, India

DIRECTORS

As on 30.09.2010

Name :

Mr. Prasanna Kumar Mahala

Designation :

Managing Director

Address :

At-Nua Sunguda, PO-Sunguda, District-Jajpur – 754 024, Orissa, India

Date of Birth/Age :

10.06.1960

Date of Appointment :

27.05.2004

Date of Ceasing :

28.02.2011

Voter ID No.:

CHJ1445733

DIN No.:

01005263

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	U23101OR1996PTC004403	PYRAMID COKE INDUSTRIES PRIVATE LIMITED	Director	09/04/1996	09/04/1996	-	Active	NO
2	U23101OR2004PTC007613	MAHALA COKE PRODUCTS PRIVATE LIMITED	Managing director	27/05/2004	27/05/2004	28/02/2011	Active	NO
3	U15312OR2005PTC008017	ORISSA RICE MILL PRIVATE LIMITED	Managing director	18/02/2005	18/02/2005	-	Active	NO

Name :

Mrs. Rangalata Mahala

Designation :

Director

Address :

At-Nua Sunguda, PO-Sunguda, District Jajpur – 754 024, Orissa, India

Date of Birth/Age :

21.07.2006

Date of Appointment :

27.05.2004

Date of Ceasing :

28.02.2011

Voter ID No.:

CHJ1445725

DIN No.:

01005372

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	U23101OR2004PTC007613	MAHALA COKE PRODUCTS PRIVATE LIMITED	Director	27/05/2004	27/05/2004	28/02/2011	Active	NO
2	U15312OR2005PTC008017	ORISSA RICE MILL PRIVATE LIMITED	Director	12/12/2007	12/12/2007	-	Active	NO

Name :

Mr. Bhabani Sankar Biswal

Designation :

Director

Address :

At-Amiyajhari, PO-Barunia, District Jajpur – 754 082, Orissa, India

Date of Birth/Age :

06.06.1977

Date of Appointment :

27.05.2004

Date of Ceasing :

28.02.2011

Voter ID No.:

OR/04/027/154495

DIN No.:

00992372

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	U23101OR2004PTC007613	MAHALA COKE PRODUCTS PRIVATE LIMITED	Director	27/05/2004	27/05/2004	28/02/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2010

Names of Shareholders	No. of Shares
Prasanna Kumar Mahala	30500
Rangalata Mahala	4000
Bhabani Sankar Biswal	12500
Artatrana Mahala	1500
Sabitri Mahala	1500
Total	50000

As on 20.07.2011

Names of Allottee	No. of Shares
Scorpio Energy Resources Private Limited, India	550000
Total	550000

As on 30.09.2010

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

BUSINESS DETAILS

Line of Business :

Manufacturer of Low Ash Phos. Metallurgical Coke.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Jagpur Road Branch, Jajpur Road, Jajpur, Orissa, India

· State Bank of India, Chandikhole Branch

Facilities :

Secured Loans	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
Term Loan from State Bank of India, Jajpur Road Branch
1. TL A/c	0.000	13.462
2. CC A/c	0.000	1.551
Total	0.000	15.013

Banking Relations :	--
Auditors :
Name :	Sanjay Patnaik and Associates Chartered Accountants
Address :	Peyton Sahi, Buxi Bazar, Cuttack – 753 001, Orissa, India
Tel. No.:	91-671-2430064
Mobile No.:	91-9437315570
Fax No.:	91-671-2430064
E-Mail :	casanjaykumarpatnaik@yahoo.co.in
Income-tax PAN of auditor or auditor's firm :	ABLFS5164P

CAPITAL STRUCTURE

After 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.100/- each	Rs.200.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
600000	Equity Shares	Rs.100/- each	Rs.60.000 millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		5.000	5.000	5.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.732	4.984	0.000
4] (Accumulated Losses)		0.000	0.000	(5.266)
NETWORTH		6.732	9.984	(0.266)
LOAN FUNDS
1] Secured Loans		0.000	15.013	16.740
2] Unsecured Loans		35.340	4.340	3.840
TOTAL BORROWING		35.340	19.353	20.580
DEFERRED TAX LIABILITIES		0.216	0.119	0.000
TOTAL		42.288	29.456	20.314
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.544	14.290	15.948
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	1.285
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	18.600	18.600	0.000
	Cash & Bank Balances	0.073	0.073	0.265
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	14.707	0.095	0.000
Total Current Assets		33.380	18.768	0.265
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors & Other Current Liabilities	3.661	3.651	0.026
	Provisions
Total Current Liabilities		3.661	3.651	0.026
Net Current Assets		29.719	15.117	0.239
MISCELLANEOUS EXPENSES		0.025	0.049	2.842
TOTAL		42.288	29.456	20.314

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2010	31.03.2009
	SALES
		Income		0.000	19.508
		Other Income		0.000
		TOTAL		0.000	19.508
Less	EXPENSES
		Office Expenses		3.156	6.428
		Administrative Expenses
		Advertising Expenses
		TOTAL		3.156	6.428
	PROFIT/ (LOSS) BEFORE TAX			(3.156)	13.080
Less	TAX			0.096	2.830
	PROFIT/ (LOSS) AFTER TAX			(3.252)	10.250
	Earnings/ (Loss) Per Share (Rs.)			(65.04)	205.00

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.00	52.54	NA
Net Profit Margin (PBT/Sales)	(%)	0.00	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	(6.87)	39.57	NA
Return on Investment (ROI) (PBT/Networth)		(0.47)	1.31	NA
Debt Equity Ratio (Total Debt/Networth)		5.25	1.94	(77.37)
Current Ratio (Current Asset/Current Liability)		9.12	5.14	10.19

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	Yes
10) Designation of contact person	Yes
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	Yes
34) External Agency Rating, if available	No

Unsecured Loans	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
Prasanna Kumar Mahala	1.700	1.700
Rangalata Mahala	0.500	0.500
Bhabani Sankar Biswal	1.350	1.350
Artatrana Mahala	0.390	0.390
Sabitri Mahala	0.400	0.400
Scorpio Energy Resources Private Limited	31.000	0.000
Total	35.340	4.340

OPERATIONS:

During the aforementioned period, the company has executed few projects and further negotiation for a number of new large projects are in process, meanwhile the company has earned Loss during the year which is utilized for the writing off the accumulated losses in future, they need the same support as earlier shown in the forth coming year make effort to improve the turnover.

FIXED ASSETS:

· Land and Land Development

· Bore-well

· DG Set

· Furniture and Fixtures

· Building and Civil Constructions

· Plant and Machinery

· Electrical Installations

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.54.70
UK Pound	1	Rs.82.79
Euro	1	Rs.71.43

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	SMN

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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