MIRA INFORM REPORT

Report Date :

08.02.2014

IDENTIFICATION DETAILS

Name :	MEHADIA SALES TRADE CORPORATION PRIVATE LIMITED
Registered Office :	464, Golchha Marg, Sadar Bazar, Nagpur – 440 001, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	29.06.2012
Com. Reg. No.:	11-232763
Capital Investment / Paid-up Capital :	Rs.0.550 million
CIN No.: [Company Identification No.]	U51101MH2012PTC232763
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in Manufacturing, Trading, Producing, Acquiring, Importing and Exporting Iron and Steel and other Ferrous and Non Ferrous products.
No. of Employees :	Information declined by the management.

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 35000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a company having moderate track record. The company possesses a below average financial profile marked by low networth and huge external borrowings recorded in the books during 2013. However, trade relations are improving. Business is active. Payment terms are reported as slow. The company can be considered for business dealings with great 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

The services sector, the largest contributor to India’s GDP, contracted for the sixth consecutive month in December, as orders dipped. However, hiring has risen.  Direct tax collections rose 12.3 % during the April – December period of the current financial year.  The government has decided to retain 100 per cent foreign direct investment in both greenfield (new) and brown field (existing) pharmaceutical companies, despite concerns over genetic drugs going out of production, if multi-national companies take over domestic ones. In M&A deals, a non compete clause would not be allowed, except in special circumstances. The Department of Industrial Policy and Promotion plans to release the next edition of its consolidated foreign direct investment policy document on March 31, incorporating changes made in the past year. DIPP compiles all policies related to India’s FDI regime into a single document to make it easy for investors to understand. 185 million estimated number of mobile internet users in India by June 2014, according to a report by the Internet & Mobile Association of India and IMRB International.  India had 110 million mobile internet users with 25 million in rural areas. $3.77 tn estimated global IT spending in 2014, according to research firm Gartner Inc. The growth forecast for this year is cut to 3.1 %from the earlier estimate of 3.5 %. The spending growth forecast for telecom services – a segment that accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is the main reason for this overall IT cut. A Reserve Bank of India committee has recommended setting up a special category of lenders who would cater to small businesses and households, to expand the number of customers with access to banking services. These banks would focus onproviding payment services and deposit products.  Indian banks want the free use of automated teller machines to be capped at five transactions in a month including that of the bank in which the account is active. This follows state government order to banks to install security guards at ATM booths after a woman banker was assaulted in Bangalore. The government is likely to present a vote on Account in mid-February. The annual Economic Survey will be tabled later in Parliament along with the full Budget. A full Budget for 2014/15 is likely to be present in July by the new government formed after the General Election. The government will soon launch an internet spy system, called Netra, to detect malafide messages. Security agency will deploy the system to capture dubious voice traffic on applications such as Skype and Google Talk, as well as tweeters.

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 DECLINED BY

Name :	Mr. Anish Mehta
Contact No.:	91-712-2556990
Date :	07.02.2014

LOCATIONS

Registered Office :	464, Golchha Marg, Sadar Bazar, Nagpur – 440 001, Maharashtra, India
Tel. No.:	91-712-2556990
Mobile No.:	91-9371313999 (Mr. Anish Mehta)
Fax No.:	91-712-2567253
E-Mail :	mstcngp@yahoo.com gautam.tiwari11@gmail.com
Warehousing and Packaging Unit :	Kapsi, Bhandara Road, Nagpur, Maharashtra, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Pankaj Nandlal Agrawal

Designation :

Managing Director

Address :

Golchha Marg, Sadar Bazar, Sadar, Nagpur – 440 001, Maharashtra, India

Date of Birth/Age :

03.08.1976

Qualification :

Graduate

Date of Appointment :

01.10.2013

DIN No.:

02095776

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	U01403MH2008PTC188072	B. Y. AGRO AND INFRA PRIVATE LIMITED.	Managing director	10/11/2008	10/11/2008	24/05/2011	Active	NO
2	U60231MH2012PLC228491	NANDSON LOGISTICS LIMITED	Managing director	07/07/2012	20/03/2012	-	Active	NO
3	U51101MH2012PTC232763	MEHADIA SALES TRADE CORPORATION PRIVATE LIMITED	Managing director	01/10/2013	29/06/2012	-	Active	NO

Name :

Mr. Vinay Ramsharandas Agrawal

Designation :

Director

Address :

Yogiraj Co-Operative Housing Society, Amrawati Road, Nagpur – 440 010, Maharashtra, India

Date of Birth/Age :

07.07.1964

Date of Appointment :

29.06.2012

DIN No.:

00083434

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	U45200MH2003PTC142822	KAPISH BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	26/04/2004	26/04/2004	-	Active	NO
2	U70100MH2005PTC152101	SIDHANT REALTORS PRIVATE LIMITED	Director	22/03/2005	22/03/2005	-	Active	NO
3	U45201MH2006PTC162637	NAGPUR PROPERTY SOLUTIONS PRIVATE LIMITED	Director	14/06/2006	14/06/2006	-	Active	NO
4	U45400MH2007PTC170103	RPA SONS INFRASTRUCTURES PRIVATE LIMITED	Director	19/04/2007	19/04/2007	-	Active	NO
5	U51101MH2012PTC232763	MEHADIA SALES TRADE CORPORATION PRIVATE LIMITED	Director	29/06/2012	29/06/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Pankaj Nandlal Agrawal	940934	89.42
Sheetal Pankaj Agrawal	100	0.01
Premlata Nandlal Mehadia	100	0.01
Dhiraj Nandlal Mehadia	100	0.01
Ranu Anish Mehta	100	0.01
Balmukund Keyal	200	0.02
Bhavana Balmukund Keyal	100	0.01
Harshad R. Agrawal	100	0.01
Mukul Agrawal	50000	4.75
Pawankumar Omprakash Agrawal	100	0.01
Lokesh Jain	100	0.01
Kartik Jain	100	0.01
Saroj Santosh Agrawal	1	0.00
Jagdish Sadankumar Agrawal	20100	1.91
Sunita Jagdish Agrawal	35000	3.33
Rajesh Keyal	1	0.00
Shobha Agrawal	1	0.00
Sitadevi Agrawal	1	0.00
Nita Agrawal	1	0.00
Nandson Logistics Limited, India	100	0.01
Vinay Ramsharandas Agrawal	5000	0.47
Rukminidevi Agrawal	1	0.00
Total	1052240	100.00

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	0.01
Directors or relatives of directors	89.42
Others	10.57
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Manufacturing, Trading, Producing, Acquiring, Importing and Exporting Iron and Steel and other Ferrous and Non Ferrous products.

GENERAL INFORMATION

Customers :

· Parsvanath Developers Limited

· Ashoka Buildcon Limited

· Vidarbha Cricket Academy

· Vidarbha Irrigation Development Corporation

No. of Employees :

Information declined by the management.

Bankers :

· Tirupati Urban Co-operative Bank Limited, 172, Shraddhanand Peth, South Ambazari Road, Nagpur – 440 010, Maharashtra, India

· Oriental Bank of Commerce, National Insurance Building, Kingsway Branch, Nagpur – 440 001, Maharashtra, India

Facilities :

Secured Loans	31.03.2013 (Rs. in Millions)
SHORT TERM BORROWINGS
From Banks
Loans repayable on demand from Banks
Tirupati Urban Co-operative Bank Limited (Cash Credit Facility) (Secured by way of hypothecation of all stocks of inventories and book debts etc., both present and future, repayable on demand. Rate of interest 16.50%, this is secured against personal guarantee of all the director and second charge on other assets.)	35.210
Total	35.210

Banking Relations :	--
Auditors :
Name :	Dhannawat Agarwal and Company Chartered Accountants
Address :	301, 3^rd Floor Daya Chambers, Ajni Chowk Wardha Road, Nagpur – 440 015, Maharashtra, India
Tel. No.:	91-712-2252280
Mobile No.:	91-7588095895/ 9422146145
E-Mail :	harshad_ca@yahoo.com
PAN No.:	AABFD8821H

CAPITAL STRUCTURE

AS ON 30.09.2013

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
1052240	Equity Shares	Rs.10/- each	Rs.10.522 millions

AS ON 31.03.2013

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
55000	Equity Shares	Rs.10/- each	Rs.0.550 million

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	0.550
(b) Reserves & Surplus	0.294
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	7.858
Total Shareholders’ Funds (1) + (2)	8.702
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) Long-term provisions	0.000
Total Non-current Liabilities (3)	0.000
(4) Current Liabilities
(a) Short term borrowings	36.243
(b) Trade payables	80.650
(c) Other current liabilities	0.025
(d) Short-term provisions	0.132
Total Current Liabilities (4)	117.050
TOTAL	125.752
I. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.135
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	1.257
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
Total Non-Current Assets	2.392
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	107.112
(d) Cash and cash equivalents	1.218
(e) Short-term loans and advances	0.000
(f) Other current assets	15.030
Total Current Assets	123.360
TOTAL	125.752

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013
	SALES
		Income	NA
		Other Income	NA
		TOTAL	NA
Less	EXPENSES
		TOTAL	NA
	PROFIT / (LOSS) BEFORE TAX		0.427
Less	TAX		0.133
	PROFIT / (LOSS) AFTER TAX		0.294
	Earnings / (Loss) Per Share (Rs.)		5.35

KEY RATIOS

PARTICULARS		31.03.2013
Return on Total Assets (PBT/Total Assets}	(%)	0.34
Return on Investment (ROI) (PBT/Networth)		0.05
Debt Equity Ratio (Total Debt/Networth)		4.16
Current Ratio (Current Asset/Current Liability)		1.05

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	No
11) Turnover of firm for about one year	No
12) Profitability for about 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	No
17) Major suppliers	No
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	--
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

Unsecured Loans	31.03.2013 (Rs. in Millions)
SHORT TERM BORROWINGS
From Other Parties
From Directors and shareholders	1.033
Total	1.033

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10469711	14/12/2013	350,000,000.00	ORIENTAL BANK OF COMMERCE	NATIONAL INSURANCE BUILDING, KINGSWAY BRANCH, NAGPUR, MAHARASHTRA - 440001, INDIA	B93332146
2	10469708	13/12/2013	350,000,000.00	ORIENTAL BANK OF COMMERCE	NATIONAL INSURANCE BUILDING, KINGSWAY BRANCH, NAGPUR, MAHARASHTRA - 440001, INDIA	B93331759

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.62.32
UK Pound	1	Rs.101.78
Euro	1	Rs.84.68

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--RESERVES	1~10	3
--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
DEFAULTERS
--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.