MIRA INFORM REPORT

Report Date :

31.05.2014

IDENTIFICATION DETAILS

Name :	HALDIA METCOKE PRIVATE LIMITED
Registered Office :	Martin Burn Building, 5^th Floor, Room No.35, 1, R. N. Mukherjee Road, Kolkata – 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	13.06.2009
Com. Reg. No.:	21-135903
Capital Investment / Paid-up Capital :	Rs.4.382 Millions
CIN No.: [Company Identification No.]	U23101WB2009PTC135903
TAN No.: [Tax Deduction & Collection Account No.]	CALH04334B
PAN No.: [Permanent Account No.]	AACCH4914P
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of coke and coal.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Profitability of the company seems to be low during 2013. However, trade relation are reported to be fair. Business is active. Payment terms 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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs  has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

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 (GENERAL DETAILS)

Name :	Mr. Narsing Jhalani
Designation :	Director
Contact No.:	91-9163302114 (Mr. Narsing)
Date :	30.05.2014

LOCATIONS

Registered Office :	Martin Burn Building, 5^th Floor, Room No.35, 1, R. N. Mukherjee Road, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22625007
Mobile No.:	91-9163302114 (Mr. Narsing)
Fax No.:	Not Available
E-Mail :	haldiametcoke@gmail.com

DIRECTORS

AS ON 31.08.2013

Name :

Mr. Narsing Lal Jhalani

Designation :

Director

Address :

43, Chinta Moni Dey Road, 3^rd Floor, Howrah – 711101, West Bengal, India

Date of Birth/Age :

10.12.1965

Date of Appointment :

01.07.2011

DIN No.:

03192408

PAN No.:

ACWPJ3886F

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	U23101WB2009PTC135903	HALDIA METCOKE PRIVATE LIMITED	Director	01/07/2011	01/07/2011	-	Active	NO
2	U51909WB2012PTC183243	SHIVPARIWAR TRADELINK PRIVATE LIMITED	Director	24/07/2012	24/07/2012	-	Active	NO
3	U27101WB1999PTC090532	AVA VANIJYA PRIVATE LIMITED	Director	14/08/2012	14/08/2012	-	Active	NO
4	U51909WB1995PTC070248	DARKIN DISTRIBUTORS PVT.LTD.	Director	27/10/2012	27/10/2012	-	Active	NO
5	U74900WB2013PTC197064	PABITRADHARA HOUSING PRIVATE LIMITED	Director	06/09/2013	06/09/2013	-	Active	NO
6	U74900WB2013PTC197099	SAKAMBARI HOUSING PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
7	U74900WB2013PTC198565	SAKAMBARI COMMOSALES PRIVATE LIMITED	Director	22/11/2013	22/11/2013	10/01/2014	Active	NO
8	U74900WB2013PTC198583	PAARIJAAT SALES AND MARKETING PRIVATE LIMITED	Director	25/11/2013	25/11/2013	-	Active	NO

Name :

Mr. Sashi Jhalani

Designation :

Director

Address :

10, Nepal Saha Lane, Flat – 403, Howrah – 711102, West Bengal, India

Date of Birth/Age :

20.01.1970

Date of Appointment :

06.02.2012

DIN No.:

05178534

PAN No.:

ACXPJ5018L

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	Company/ LLP Status	Defaulting status
1	U23101WB2009PTC135903	HALDIA METCOKE PRIVATE LIMITED	Director	06/02/2012	06/02/2012	Active	NO
2	U51909WB2012PTC183243	SHIVPARIWAR TRADELINK PRIVATE LIMITED	Director	24/07/2012	24/07/2012	Active	NO
3	U27101WB1999PTC090532	AVA VANIJYA PRIVATE LIMITED	Director	14/08/2012	14/08/2012	Active	NO
4	U74900WB2013PTC197064	PABITRADHARA HOUSING PRIVATE LIMITED	Director	06/09/2013	06/09/2013	Active	NO
5	U74900WB2013PTC197099	SAKAMBARI HOUSING PRIVATE LIMITED	Director	09/09/2013	09/09/2013	Active	NO
6	U74900WB2013PTC198939	ASWATHAMA VYAPAAR PRIVATE LIMITED	Director	10/12/2013	10/12/2013	Active	NO

MAJOR SHAREHOLDERS

AS ON 31.08.2013

Names of Shareholders	No. of Shares
Ashok Kumar Sharma	500
Tirupati Fuels Private Limited	9500
Narsing Lal Jhalani	208500
Sashi Jhalani	65000
Vijay Mehariya	55000
Triveni Devi	15000
Sumit Kumar Meharia	27666
Naresh Rungta	6500
Ruchi Bajaj	12500
Aabha Commotrade Private Limited	15000
Anamika Dealmark Private Limited	3333
Bholenath Commosales Private Limited	15000
Nishi Meharia	3000
Puja Bajoria	1666
Total	438165

Equity Share Break up (Percentage of Total Equity)

AS ON 31.08.2013

Category	Percentage
Bodies corporate	9.78
Directors or relatives of Directors	62.40
Other top fifty shareholders	27.82
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of coke and coal.

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	Not Divulged

Banking Relations :	--
Auditors :
Name :	H K Saha and Company Chartered Accountants
Address :	1, N. S. Road, Kolkata – 700001, West Bengal, India
PAN No.:	AJMPS2471A
Related Party :	AVN Vanjyn Private Limited

CAPITAL STRUCTURE

AS ON 31.08.2013

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
438165	Equity Shares	Rs.10/- each	Rs.4.382 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4.382	2.780	0.100
(b) Reserves & Surplus	15.009	0.062	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	2.500	0.000
Total Shareholders’ Funds (1) + (2)	19.391	5.342	0.100
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	95.975	0.375
(b) Trade payables	271.867	36.424	0.000
(c) Other current liabilities	0.753	0.058	0.003
(d) Short-term provisions	0.785	0.047	0.000
Total Current Liabilities (4)	273.405	132.504	0.378
TOTAL	292.796	137.846	0.478
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.347	0.000	0.000
(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)	0.087	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	0.434	0.000	0.000
(2) Current assets
(a) Current investments	5.010	0.000	0.000
(b) Inventories	146.561	12.847	0.000
(c) Trade receivables	118.136	47.112	0.000
(d) Cash and cash equivalents	1.755	1.502	0.100
(e) Short-term loans and advances	20.900	76.004	0.000
(f) Other current assets	0.000	0.381	0.378
Total Current Assets	292.362	137.846	0.478
TOTAL	292.796	137.846	0.478

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	696.168	23.414
		Other Income	NA	NA
		TOTAL	NA	NA
Less	EXPENSES
		TOTAL	NA	NA
	PROFIT/(LOSS) BEFORE TAX		2.086	0.111	NIL
Less	TAX		0.687	0.049
	PROFIT/(LOSS) AFTER TAX		1.399	0.062
	Earnings Per Share (Rs.)		4.45	2.58

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PBT/Sales)	(%)	0.30	0.47	NIL
Return on Total Assets (PBT/Total Assets}	(%)	0.71	0.08	NIL
Return on Investment (ROI) (PBT/Networth)		0.11	0.02	NIL
Debt Equity Ratio (Total Debt /Networth)		0.00	17.97	3.75
Current Ratio (Current Asset/Current Liability)		1.07	1.04	1.26

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	0.100	2.780	4.382
Reserves & Surplus	0.000	0.062	15.009
Share Application money pending allotment	0.000	2.500	0.000
Net worth	0.100	5.342	19.391
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.375	95.975	0.000
Total borrowings	0.375	95.975	0.000
Debt/Equity ratio	3.750	17.966	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions
Sales	23.414	696.168
		2,873.298

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions
Sales	23.414	696.168
Profit	0.062	1.399
	0.26%	0.20%

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	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	No
24]	Banking facility details	No
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Short Term Borrowings
Other Loans and Advances	0.000	95.975
Total	0.000	95.975

NO CHARGES EXIST FOR COMPANY.

FIXED ASSETS:

· Air Condition

· Motor Cycle

· Furniture and Fixture

· Computer and Peripherals

· Mobile Phone

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.59.03
UK Pound	1	Rs.98.91
Euro	1	Rs.80.34

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	RAS
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		34

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.