MIRA INFORM REPORT

Report Date :

07.08.2014

IDENTIFICATION DETAILS

Name :	ASTRA GLOBAL PRIVATE LIMITED (w.e.f. 08.08.2012)
Formerly Known As :	RBS ASTRA GLOBAL PRIVATE LIMITED
Registered Office :	Plot No. 75, Verna Industrial Estate, Verna – 403722, Goa
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	19.01.2012
Com. Reg. No.:	24-007253
Capital Investment / Paid-up Capital :	Rs. 40.000 Millions
CIN No.: [Company Identification No.]	U28113GA2012PTC007253
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer and Marketing of Engineering Goods Including Auto Parts, Tractor Part, Auto and Factor Accessories.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 130000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are fair. Business is active. Payment are reported to be slow but correct. The company can be considered for business dealing with some cautions.

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 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Santosh Bhende
Designation :	Chief Operating Officer
Contact No.:	91-9840427013
Date :	05.08.2014

LOCATIONS

Registered Office :	Plot No. 75, Verna Industrial Estate, Verna – 403722, Goa, India
Tel. No.:	Not Available
Mobile No.:	91-9840427013 (Mr. Santosh Bhende)
Fax No.:	Not Available
E-Mail :	satish@astrametals.com
Branch Office:	Plot. No. 78, South Phase/ Ambattur Industrial Estate Ambattur, Chennai – 600058, Tamilnadu, India
Tel. No.:	91-44-49156666
Fax No.:	91-44-49156667

DIRECTORS

As on: 15.07.2013

Name :	Mr. Satish Shinde
Designation :	Director
Address :	129, A-2, Bay View Housing Society, Sagar Society, Dona Paula – 403004, North Goa, India
Date of Birth/Age :	12.02.1964
Date of Appointment :	19.01.2012
DIN No.:	00053144
Name :	Mr. Charles Charlton Collaco
Designation :	Director
Address :	Silver Towers, AB3, Near Cine Vishant, Aquem Alto, Margao – 403601, South Goa, India
Date of Birth/Age :	26.08.1963
Date of Appointment :	25.07.2012
DIN No.:	00066106
Name :	Mr. Pravin Gurudas Pai
Designation :	Director
Address :	House No. 121, Batim, Goa Velha – 403108, Goa, India
Date of Birth/Age :	11.06.1965
Date of Appointment :	15.12.2012
DIN No.:	00066129
Name :	Mr. Pradip Antonio P.Da Costa
Designation :	Director
Address :	House No. 19, Rawanfound, Aquembaixo, Navelim, Post Office, Salcete, Margao – 403707, Goa, India
Date of Birth/Age :	22.10.1964
Date of Appointment :	15.12.2012
DIN No.:	00111772
Name :	Mr. Santosh Balachandra Bhende
Designation :	Director
Address :	H. No. CF/2, Ornate Estate, Banguinim, Old Goa – 403402, India
Date of Birth/Age :	23.09.1978
Date of Appointment :	15.12.2012
DIN No.:	06477367
Name :	Mr. Prashant Sardesai
Designation :	Director
Address :	H. No. 11, S-2, Jamat Kinara, Caranzalem, Panaji – 403002, Goa, India
Date of Birth/Age :	01.11.1959
Date of Appointment :	1.02.2013
DIN No.:	00018190

KEY EXECUTIVES

Name :	Mr. Santosh Bhende
Designation :	Chief Operating Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 15.07.2013

Names of Shareholders	No. of Shares
Satish Shinde	1
Charles Collaco	1
Astra Metal Systems Private Limited, India	3999995
Pravin Pai	1
Pradip Costa	1
Santosh Bhende	1
Total	4000000

Equity Share Break up (Percentage of Total Equity)

As on: 15.07.2013

Category	Percentage
Bodies corporate	99.99
Directors or relatives of directors	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Dealer and Marketing of Engineering Goods Including Auto Parts, Tractor Part, Auto and Factor Accessories.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

Bank of India, Verna SME Branch, Verna - 403722, Goa, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013
LONG TERM BORROWINGS
Term loans from banks	58.298
SHORT TERM BORROWINGS
Working capital loans from bank of India	0.031
Total	58.329

Banking Relations :	--
Auditors :
Name :	S. L. Singbal and Associates Chartered Accountants
Address :	Singbal Building, Ponda – 403401, Goa, India
PAN No.:	AINPS5027Q
Holding Company:	Astra Metal Systems Private Limited

CAPITAL STRUCTURE

As on: 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs. 40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs. 40.000 Millions

As on: 15.07.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs. 40.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	40.000
(b) Reserves & Surplus	(5.821)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	34.179
(3) Non-Current Liabilities
(a) long-term borrowings	58.298
(b) Deferred tax liabilities (Net)	1.695
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	59.993
(4) Current Liabilities
(a) Short term borrowings	0.031
(b) Trade payables	7.295
(c) Other current liabilities	1.350
(d) Short-term provisions	0.944
Total Current Liabilities (4)	9.620
TOTAL	103.792
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	68.594
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	7.577
(e) Other Non-current assets	0.000
Total Non-Current Assets	76.171
(2) Current assets
(a) Current investments	0.000
(b) Inventories	4.588
(c) Trade receivables	0.008
(d) Cash and cash equivalents	5.616
(e) Short-term loans and advances	4.090
(f) Other current assets	13.319
Total Current Assets	27.621
TOTAL	103.792

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013
	SALES
		Income	0.007
		Other Income	NA
		TOTAL	NA
Less	EXPENSES
		TOTAL	NA
	PROFIT/ (LOSS) BEFORE TAX		NA
Less	TAX		NA
	PROFIT/ (LOSS) AFTER TAX		(5.821)
	IMPORTS		3.099
	Earnings Per Share (Rs.)		(1.46)

KEY RATIOS

PARTICULARS	31.03.2013
Debt Equity Ratio (Total Debt/Networth)	1.71
Current Ratio (Current Asset/Current Liability)	2.87

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	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one year	Yes
12]	Profitability for last one year	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
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	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 earned an Income of Rs.0.007 million which resulted in a Loss of Rs.4.126 million.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10410755	01/02/2013	97,840,000.00	BANK OF INDIA	VERNA SME BRANCH, VERNA, GOA - 403722, INDIA	B70425699

FIXED ASSETS

· Air Conditioner

· Portable Power Tools

· Gauges and Instruments

· Computer

· Furniture and Fittings

· Office Equipment’s

· Plant and Machinery

PRESS RELEASE

HCL INFOSYSTEMS TIES UP WITH ASTRA GLOBAL

HCL Infosystems Ltd. India’s premier services and ICT systems integration, distribution and Hardware Company today announced the outsourcing of its manufacturing facility located at Ambattur (Chennai) to Astra Global Private Limited.  The manufacturing facility specializes in networking racks, specialized custom designed sheet metal enclosures, Ticketing & self-service kiosks and subsystems for Medical and Aerospace products.  

Through this partnership, Astra will supply products manufactured in the Ambattur facility to HCL for its internal requirements as well as to HCL’s customers. The partnership will enable both HCL and Astra to focus on their respective core competencies. Astra is based out of Verna, Goa and is engaged in the business of manufacturing precision assemblies for the Medical & Engineering industries with over 20 years of experience.

Mr. Harsh Chitale, CEO & Whole Time Director, HCL Infosystems Ltd. said, “Through this partnership with Astra, our customers will get the best of both HCL’s strengths in Design and service and Astra’s manufacturing prowess”.  

Mr. Satish Shinde, Managing Director, Astra Global Private Limited, “We look forward to our association with HCL where we will bring our manufacturing capabilities to leverage HCL’s product design and customer specific solutions design. We intend to have a pan-India presence through this venture”.

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. 61.33
UK Pound	1	Rs. 103.43
Euro	1	Rs. 81.96

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.