MIRA INFORM REPORT

Report Date :

24.05.2013

IDENTIFICATION DETAILS

Name :	ACHILLIES COMMODITIES TRADING CC
Formerly Known As :	ACHILLIES INVESTMENT 2071
Registered Office :	126 Marine Parade 237 Marine Parade Durban 4056
Country :	South Africa
Date of Incorporation :	23.11.2000
Com. Reg. No.:	2000/070534/23
Legal Form :	Close Corporation
Line of Business :	Exporting of scrap metals
No. of Employees :	5

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Small Company
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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
South Africa	A1	A1

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

Assessment

Total Credit Limit Exposure:

Total Suretyship:

This is an established small business that exports.

The subject is not a general credit seeker locally and purchases on a CASH basis.

Detailed information was declined by the subject.

We cannot recommend any credit dealings and suggest all payments be made on a Letter of Credit basis.

Company Information

Registered Name	ACHILLIES COMMODITIES TRADING CC
Trading as/ Division Name	None
Previous Name	ACHILLIES INVESTMENT 2071
Date of Name Change	2010-09-21
Registration Number	2000/070534/23
Registration Date	2000-11-23
Date Commenced Trading	2000-11-23
Age of Business	11 Years 1 Months
History of Business	The subject has been trading since 2000
Shareholders/Members/Partners of subject and % holding	75% ASHOK KUMAR BANSAL 25% AKASH BANSAL
Status	This Business is Active
Operations Assessment	Exporting of scrap metals
Industry/ Customers	Various
Export	India mainly
Major Industry Code / SICC	61420 Wholesale and retail
Definition of Code	Wholesale trade in metal and metal ores
Head Office Physical Address	Physical Address: 677 Umgeni Road DURBAN Kwazulu Natal Registered Address: 126 Marine Parade 237 Marine Parade DURBAN 4056
Head Office Postal Address	PO Box 10558 Marine Parade DURBAN 4001
Current Tel Number	031 3125053
Current Fax Number	031 3125868
Current Email Address	achilles@telkomsa.net
Web Site Address	None

Auditors Information

There was no answer on the Auditors phone and it is assumed the business is closed for Christmas.

Company Registered Name	KISHORE RAGUNANAN AND CO
Contact Person	KISHORE
Contact Number	031 3121017
SAICA number	1128

Previous Auditors

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

Tax Information

Vat Number	4810195240
Status	Active
Vat Liable Date	Monthly
Tax Number	9583101143
Tax Clearance Expire Date	October
Financial Year End	October

Black Economic Empowerment

Status	None
Score
Expire Date
BEE Certificate Available	Yes/No

ISO Status

Type of ISO Grade	None
ISO Certificate	Yes/No
ISO Certificate Available	Yes/No
Certified by an Accredited Agent	Yes/No

Workman’s compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries

Subsidiary Company	None
Shareholding
Registration Number
Import / Export

Number of Employees	5
Salaried employees	5
Waged employees
Permanent employees
Casual employees
Contracted employees

Company Fleet	No of vehicles:	Owned/ Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	1
Cars
Light Delivery Vehicles
Trailers
Busses	1	Owned	Not provided	None
Trucks
Fork Lifts
Other

Offices
Head Office Owned/ Rented	Rented
Rental Company	KISHORE RAGUNANAN AND COMPANY (Auditors)
Owned by
Value
Bond
Bank
Lease Agreement	None
Lease Expire Date
Type of Premises	Offices

Branches Names	Country	Province
None

Branches Owned/ Rented	None
Rental Company
Owned
Value
Bank
Bond
Lease Agreement
Lease Expire Date
Type of Premises

Management Overview

Organisation chart

Level	Position	Name
1	Managing Member	ASHOK BANSAL
2	General Manager	AKASH BANSAL

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub
75% ASHOK KUMAR BANSAL 25% AKASH BANSAL	ACHILLES COMMODITIES TRADING CC	None

Trade References

Key deals signed within the past 12 months.

Company	Value	Contact
None

In view of the nature of business the subject only purchases on a cash basis with its local suppliers. Trade references were then not provided.

Adverse Information on Subject

Judgements

Judgements	None
Possible Judgements	None
Civil Court	None
RDs	None

Business Rescue

Date registered	Business rescue practitioner	Contact Information	Details
None

Default Listings

Date	Details
None

Notarial Bonds

Date	Details
None

Bank Information

Bank	STANDARD BANK
Branch	Florida Road
Bank Account Number	Declined
Type of Account	Declined
Bank Code	None provided as account number was not submitted by the subject
Bank Comment	None

Bank Codes History

Date requested	Bank Code	Enquiry Amount	Number of RD’s	RD amount	RD Date	Bank Comments	Years with bank
None

Previous Bank Accounts

Banker	Branch Code	Account Holder	Account number	Date opened	Years with bank
None

Deeds Information

Property Interestsfor Company

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/Unit	Extent / Size	132.0SQM
Purchase Date	2006-08-04	Purchase price	R 1 025 000,00
% Ownership	0.0000	Bond Holder	STANDARD BANK OF SA
Bond Number	SB727102006	Bond Amount	R 1 025 000,00

Financial Information

Financial Estimates

CURRENT ASSETS
Stock
Debtors
FIXED ASSETS
Plant, Equipment, Vehicles
Property
CURRENT LIABILITIES
Creditors
Loans/ From?
LONG TERM LIABILITIES
Morgage Bonds
Previous Year Turnover
Estimated Current Year Turnover
Current Turnover per month
Current Turnover per annum	R48 000 000

Please note the following:

Turnover and assets less than R 1,000,000.00	The subject falls within the National Credit Act
Turnover and assets less than R 2,000,000.00	The subject falls within the Consumer Protection Act

Principals

Number of Principals	2
Average Age of Active Principals	45

Active Principals

Principal 1 of2: ASHOK KUMAR BANSAL

Surname	BANSAL
First Name	ASHOK
Other Names	KUMAR
Marital Status
ID Number	4404045992187
Verified ID Number	No
Current Age	67
Designation	Director
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
Cell number
Current Fax Number
Current Email Address
Shareholding	(if the principal owns shares)

Adverse Information for:ASHOK KUMAR BANSAL

Judgement

Number of Judgements

None

Debt Review

Debt review

None

Other

Default data

None

Business Information for:ASHOK KUMAR BANSAL

Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
None

Previous Business Interests

Average Age of Previous Business Interests

None

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
None

Deeds Information

Property Interestsfor:ASHOK KUMAR BANSAL

Title Deed No.	None	Erf/Site No.
Deeds Office		Physical Address
Property Type		Extent / Size
Purchase Date		Purchase price
% Ownership		Bond Holder
Bond Number		Bond Amount

Principal 2 of 2: AKASH BANSAL

Surname	BANSAL
First Name	AKASH
Other Names
Marital Status
ID Number	7612305798188
Verified ID Number	No
Current Age	35
Designation	Director
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	031 3125053
Cell number
Current Fax Number
Current Email Address
Shareholding	(if the principal owns shares)

Adverse Information for: AKASH BANSAL

Judgement

Number of Judgements

None

Debt Review

Debt review

None

Other

Default data

None

Business Information for: AKASH BANSAL

Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
None

Previous Business Interests

Average Age of Previous Business Interests

None

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
SIRON TECHNOLOGY CC	2003/106004/23	Deregistration Final	8 Years	0	No
MINDTREE TECHOLOGIES (PTY) LTD	2004/033021/07	In Business	7 Years 1 Months	0	No

Deeds Information

Property Interestsfor: AKASH BANSAL

Title Deed No.	None	Erf/Site No.
Deeds Office		Physical Address
Property Type		Extent / Size
Purchase Date		Purchase price
% Ownership		Bond Holder
Bond Number		Bond Amount

Adverse Information for: AKASH BANSAL

Judgement

Number of Judgements

None

Debt Review

Debt review

None

Other

Default data

None

Business Information for: AKASH BANSAL

Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
None

Previous Business Interests

Average Age of Previous Business Interests

7

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation
MINDTREE TECHNOLOGIES (PTY) LTD	2004/033021/07	In Business	7 Years 1 Months	0	No

Deeds Information

Property Interestsfor: AKASH BANSAL

Title Deed No.	None	Erf/Site No.
Deeds Office		Physical Address
Property Type		Extent / Size
Purchase Date		Purchase price
% Ownership		Bond Holder
Bond Number		Bond Amount

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.99
UK Pound	1	Rs.84.19
Euro	1	Rs.71.86

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.