MIRA INFORM REPORT

Report Date :

27.12.2014

IDENTIFICATION DETAILS

Name :	BLACK GOLD EXIM PRIVATE LIMITED

Registered Office :	11/4, Kharadi-Mundhwa, Bypass Road, Near Hotel Prachi, Kharadi, Pune-411014, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	02.01.2006

Com. Reg. No.:	11-021770

Capital Investment / Paid-up Capital :	Rs. 7.500 Millions

CIN No.: [Company Identification No.]	U51909PN2006PTC021770

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	PNEB04802A

PAN No.: [Permanent Account No.]	AACCB7875P

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Supplier of Graded Coal Products and Services.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Exist

Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be decent. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

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, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

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

EXTERNAL AGENCY RATING

Not Available

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. Datta
Designation :	Accountant
Contact No.:	91-9370315724
Date :	23.12.2014

LOCATIONS

Registered Office :	11/4, Kharadi-Mundhwa, Bypass Road, Near Hotel Prachi, Kharadi, Pune-411014, Maharashtra, India
Tel. No.:	91-20-32543891/ 65002103
Mobile No.:	91-9370315724 (Mr. Datta)
Fax No.:	91-20-65002103
E-Mail :	blackgoldexim@yahoo.co.in atul@blackgoldexim.com namrata.ekhe@gmail.com
Website :	http://www.blackgoldexim.com
Area :	3500 sq.ft.
Location :	Owned

Head Office :	Office No. 504, Pentagan Tower, Magratta City, Pune-411013, Maharashtra, India

Factory :	Sr. No. 12 and 15, At Talashet, Post Poynad, Alibaug, District Raigad, Maharashtra, India
Tel. No.:	91-2143-320650
Fax No.:	91-2143-641728

DIRECTORS

As on 22.09.2014

Name :	Mrs. Pratidnya Atul Kamble
Designation :	Director
Address :	St. Lorence Colony, Uday Baug, Pune-411013, Maharashtra, India
Date of Birth/Age :	18.01.1975
Date of Appointment :	02.09.2013
DIN No.:	01830571

Name :	Atul Sharad Kamble
Designation :	Managing director
Address :	Silver Archies Apartment, No. 2 S No. 20 to 28 Plot No. 1, Uday Baug Road, Hadapsar, Pune – 411013, Maharashtra, India
Date of Birth/Age :	18.03.1967
Date of Appointment :	02.09.2013
DIN No.:	01838327

KEY EXECUTIVES

Name :	Mr. Datta
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 22.09.2014

Names of Shareholders		No. of Shares
Atul Sharad Kamble		63000
Pratidnya Sharad Kamble		12000
Total		75000

As on 22.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

PRODUCTION STATUS = Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Agarwal Coal Corporation Private Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Agarwal Fuel Corporation Private Limited
Alif Computer Service
Farlin Commodities Private Limited
Great Town Trading Private Limited
Gandhar Oil Refinery (l) Limited
Gupta Coal India Limited
M/s Goods Prints.
Krehsst Markcon Private Limited
Kanj Associates
Maheshwari Fuelchem Private Limited
MailTech Stationery
M/S M.M.Traders.
M/s Phoenix Comtrade Private Limited
M/s Prabha Energy
Mohit Minerals Private Limited
Maheshwari Coal Suppliers

Customers :

Reference :	Bhutada Weaving Miil Private Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Malwa Mirage Ceramics Private Limited
M/s Durga products
Gansesh Benzoplast Limited
Godhawat Foods International Private Limited
Indu Corporation Private Limited
Kirli Agrovet Limited
J.B. Textile Industries Private Limited.
Jubilant Life Sciences Limited
Laxmi Organics Industries Limited
Shree Doodhganga Vedhaganga S.S.K. Limited
M/s Bhatia International
M/s Chandraprabhu Sales Corporation
M/s Prabha Natural Resources Private Limited
Thermo Products Private Limited
M/s Shreeyash Enterprises
M/s Shreya Trading Company.
Suchetan Exports Private Limited
Shree Deccan Finishers
Athani Farmers Suger Factory Limited

No. of Employees :

Not Divulged

Bankers :

Punjab National Bank, Aundh Branch, 1/2/3/ Gaikwad Heights, Aundh, Pune – 411007, Maharashtra, India

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loan on PAJERO - 450800-666	0.000	0.108
HDFC ( Mercedes Loan A/c)	1.318	2.020
Reliance Capital Ltd. Loan Shop No -11	1.790	1.900
Saraswat Bank Forluner Car Loan fuc	1.028	1.609
Saraswat Bank -lnnova Loan A/c	0.980	1.194
Tata Cap. Hsg. Fin. Ltd.-Loan against office 9&10	2.684	2.840
Tata Capital Hsg. Finance Ltd.- Black Gold	3.224	3.306
	11.024	12.977
SHORT TERM BORROWING
Punjab National Bank C.C. A/c No. 87/99	32.188	23.924

Total	43.212	36.901

Financial institution :	Tata Capital Housing Finance Limited, One Forbes, Dr, V B Gandhi Marg, Fort, Mumbai – 400001, Maharashtra, India

Auditors :
Name :	M. D. Khushtale Chartered Accountant
Address :	Adnya Heights 517, Guruwar Peth, Pune-411042, Maharashtra, India
PAN No.:	AACCB7875P

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 22.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

100000	Equity Shares	Rs.100/- each	Rs. Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

75000	Equity Shares	Rs.100/- each	Rs. 7.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	7.500	7.500	7.500
(b) Reserves & Surplus	22.190	17.793	13.716
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	29.690	25.293	21.216

(3) Non-Current Liabilities
(a) long-term borrowings	23.634	15.371	3.972
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	23.634	15.371	3.972

(4) Current Liabilities
(a) Short term borrowings (Punjab National Bank C.C A/c No, 87/99)	32.188	23.924	31.772
(b) Trade payables	97.128	116.241	59.626
(c) Other current liabilities	0.000	0.050	0.050
(d) Short-term provisions	1.022	0.389	0.413
Total Current Liabilities (4)	130.338	140.604	91.861

TOTAL	183.662	181.268	117.049

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	16.076	18.168	14.003
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	16.076	18.168	14.003

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	52.940	76.476	58.110
(c) Trade receivables	88.508	83.158	42.252
(d) Cash and cash equivalents	4.560	2.375	1.531
(e) Short-term loans and advances	21.419	0.933	0.994
(f) Other current assets	0.159	0.158	0.159
Total Current Assets	167.586	163.100	103.046

TOTAL	183.662	181.268	117.049

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
SALES	230.941	256.800	228.300

NET PROFIT/ (LOSS) AFTER TAX	4.397	4.077	3.582

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2014
Net Profit Margin (PAT/Sales)	(%)	1.90	NA	NA

Debt Equity Ratio (Total Debt /Networth)		1.88	1.55	1.68

Current Ratio (Current Asset/Current Liability)		1.29	1.16	1.12

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	7.500	7.500	7.500
Reserves & Surplus	13.716	17.793	22.190
Net worth	21.216	25.293	29.690

long-term borrowings	3.972	15.371	23.634
Short term borrowings	31.772	23.924	32.188
Total borrowings	35.744	39.295	55.822
Debt/Equity ratio	1.685	1.554	1.880

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	228.300	256.800	230.941
		12.484	(10.070)

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 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	Yes
18]	Major customers	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	Yes
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

Litigation Details :

Case Details
Case Type	Sum Case
Filing No.	432018/2014 Filling date : 05.11.2014
Registration No.	419244/2014 Registration date : 05.11.2014
Case code :	203404320182014

First hearing Date	05.12.2014
Next Hearing Date	16.01.2015
Purpose of Hearing	Awaiting Summons

Petitioner(s) & Advocate (s)
Petitioner – Virtus Urja Limited through Pankaj Kumar Nyaati. Address – Off. B 212 Durian Estate Premises Co. Op. Soc. Limited. Goregaon Mulund Link Rd. Goregaon East Mumbai 400063 Advocate – Adv. Nikhil S. Shetiya
Respondent (s) & Advocate (s)
Respondent – Black Gold Exim Private Limited Etc.2 Address – Off. 11.4 Kharadi Mundhwa Bypass Rd. Nr. Hotel Prachi Kharadi Pune Advocate – Extra Parties 2) Respondent – Mrs. Pratidnya Atul Kamble. Address – Off. 11.4 Kharadi Mundhwa Bypass Rd. Nr. Hotel Kharadi Pune. 2. R. at Flat No. 2 Silver Archies Apt. S. no. 20 28 PI 1 Uday Baug Rd. HAdpsar Pune. Advocate- 3) Respondent – Atul Sharad Kamble. Address – Off11.4 Kharadi Mundhwa Bypass Rd. Nr. Hotel Prachi Kharadi Pune 2. R. at Flat No.2 Silver Archoes Apt. S. No. 20 28 PI Uday Baug Rd. HAdpsar Pune Advocate -

Acts
Under Act (s)	Negotiable Instrument Act
Under Section(S)	138 141
Subject

Lower Court Information
Court No & Name	--
Case No & Year	--
Case Decision Date	--

Note:

The Registered office of the company has been shifted from 228/29, Mangalwar Peth, Pune-411011, Maharashtra, India to present address w.e.f. 05.05.2006

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Shri Rahul Sharad	1.323	2.393
Shri Atul S. Kamble	11.286	0.000

Total	12.609	2.393

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10407119	31/01/2013	1,900,000.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge C ity, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA	B69229599
2	10449443	11/09/2012	2,900,000.00	TATA CAPITAL HOUSING FINANCE LIMITED	ONE FORBES, DR V B GANDHI MARG, FORT, MUMBAI, Maharashtra - 400001, INDIA	B79494803
3	10090627	15/12/2009 *	35,000,000.00	Punjab National Bank	Aundh Branch,, 1/2/3 Gaikwad Heights, Aundh,, Pune, Maharashtra - 411007, INDIA	A76131051

* Date of charge modification

FIXED ASSETS

· Car

· Computer

· Electrification

· Factory Cosntruction

· Furniture

· JCB

· Land

· Office

· Loader Vehicle

· Machinery

· Mobile

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.63.63
UK Pound	1	Rs.98.97
Euro	1	Rs.77.74

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	KAR

Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		45

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.

MIRA INFORM REPORT

Unit