MIRA INFORM REPORT

Report Date :

12.11.2014

IDENTIFICATION DETAILS

Name :	BETUL MINERALS AND CONSTRUCTION PRIVATE LIMITED (w.e.f 07.09.2001)
Formerly Known As :	BETUL MINERAL PRIVATE LIMITED
Registered Office :	Kothi Bazar, Betul – 460001, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.07.1996
Com. Reg. No.:	10-011055
Capital Investment / Paid-up Capital :	Rs. 0.100 Millions
CIN No.: [Company Identification No.]	U14102MP1996PTC011055
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Divulged
PAN No.: [Permanent Account No.]	Not Divulged
Legal Form :	Private Limited Liability Company.
Line of Business :
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has recorded huge accumulated losses, net worth of the company has been filly eroded. However, business is active. Payments terms reported to be slow. The company can be considered for dealings on a secured trade terms and conditions.

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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

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.

Subject’s name has been found enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :

Designation :

Contact No.:

Date :

LOCATIONS

Registered Office :	Kothi Bazar, Betul – 460001, Madhya Pradesh, India
Tel. No.:	91-7141-230480
Fax No.:	Not Available
E-Mail :	Betulminerals7@gmail.com

DIRECTORS

As on 28.09.2013

Name :

Mr. Kaushik Daga

Designation :

Addition Director

Address :

Daga House, Kothi Bazar, Betul – 460001, Madhya Pradesh, India

Date of Birth/Age :

29.04.1982

Date of Appointment :

30.09.2006

DIN No.:

01411362

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	U51909MH2001PTC134236	AVENTIS BIOFEEDS PRIVATE LIMITED	Director	24/12/2002	24/12/2002	22/06/2010	Active	NO
2	U14102MP1996PTC011055	BETUL MINERALS AND CONSTRUCTION PRIVATE LIMITED	Director	30/09/2006	01/11/2005	-	Active	NO
3	U67120MP1995PTC009696	SHREYANS CREDIT AND CAPITAL PVT LTD	Director	01/12/2005	01/12/2005	10/03/2010	Active	NO
4	U51215MH2006PTC159142	BETUL OILS AND FEEDS PRIVATE LIMITED	Director	29/09/2012	20/01/2006	04/02/2013	Active	NO
5	U01119TG2007PTC056033	HETEROSIS BIOTECH PRIVATE LIMITED	Director	19/03/2008	19/03/2008	-	Active	NO
6	U01403TG2008PTC059377	HONEY BEE CROP CARE PRIVATE LIMITED	Director	28/05/2008	28/05/2008	-	Active	NO
7	U51900MH2008PTC186284	NAVINYA MULTITRADE PRIVATE LIMITED	Additional director	25/01/2010	25/01/2010	04/08/2010	Active	NO
8	U67190MH2010PTC203532	JYOTHIR CREDIT & CAPITAL PRIVATE LIMITED	Director	28/05/2010	28/05/2010	15/06/2012	Active	NO
9	U70102MH2010PTC203535	ARTEFACT PROPERTIES PRIVATE LIMITED	Director	27/09/2013	28/05/2010	-	Active	NO
10	U40300MH2010PTC203534	VAMA ENERGY PRIVATE LIMITED	Director	28/05/2010	28/05/2010	-	Active	NO
11	U67110MH2010PTC203557	MOEBIUS CREDIT & CAPITAL PRIVATE LIMITED	Director	31/05/2010	31/05/2010	-	Active	NO
12	U64203KA1999PTC040905	SANOVI TECHNOLOGIES PRIVATE LIMITED	Director	29/09/2010	08/07/2010	-	Active	NO
13	U72900MH2010PTC207272	UNI24 TECHNO SOLUTIONS PRIVATE LIMITED	Director	30/08/2010	30/08/2010	14/03/2011	Active	NO
14	U93090MH2010PTC208542	SUNMATE TRADE PRIVATE LIMITED	Director	03/10/2010	03/10/2010	14/03/2011	Active	NO
15	U62200DL2012PTC239864	VICTORY AVIATION SERVICES PRIVATE LIMITED	Director	06/08/2012	06/08/2012	-	Active	NO
16	U01403MP2014PTC032452	SIDDHA SEEDS PRIVATE LIMITED	Director	03/03/2014	03/03/2014	-	Active	NO

Name :

Mr. Varun Daga

Designation :

Director

Address :

Daga House, Kothi Bazar, Betul – 460001, Madhya Pradesh, India

Date of Birth/Age :

02.05.1985

Date of Appointment :

01.08.2009

DIN No.:

01932805

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	U51909MH2001PTC134236	AVENTIS BIOFEEDS PRIVATE LIMITED	Director	16/08/2005	16/08/2005	20/04/2010	Active	NO
2	U51215MH2006PTC159142	BETUL OILS AND FEEDS PRIVATE LIMITED	Director	20/01/2006	20/01/2006	28/07/2009	Active	NO
3	U72900MH2008PTC183650	CLOVER MEDIA PRIVATE LIMITED	Director	28/06/2010	11/08/2008	-	Active	NO
4	U85100MH2009NPL192019	BHOOKH RELIEF FOUNDATION	Director	24/04/2009	24/04/2009	-	Active	NO
5	U67120MP1995PTC009696	SHREYANS CREDIT AND CAPITAL PVT LTD	Director	01/08/2009	01/08/2009	10/03/2010	Active	NO
6	U14102MP1996PTC011055	BETUL MINERALS AND CONSTRUCTION PRIVATE LIMITED	Director	01/08/2009	01/08/2009	-	Active	NO
7	U67120MH2008PTC187619	GIRIK WEALTH ADVISORS PRIVATE LIMITED	Director	30/09/2010	19/01/2010	23/11/2012	Active	NO
8	L40300MH1983PLC030872	ORBIT EXPORTS LTD	Director	27/06/2012	26/07/2011	-	Active	NO
9	U74900MH2012PTC236622	ARABESQUE MERCANTILE PRIVATE LIMITED	Director	09/10/2012	09/10/2012	25/06/2013	Active	NO
10	AAC-7997	DREAM11 GAMING ZONE LLP	Designated Partner	10/10/2014	10/10/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2013

Names of Shareholders	No. of Shares	% of holding
Niraj Daga	3400	34.00
Shreans Daga	3200	32.00
Kaushik Daga	3200	32.00
Vinod Daga	100	1.00
Paras Kumar Daga	100	1.00
Total	10000	100.00

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 Divulged
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :	Not Divulged
Customers :	Not Divulged
No. of Employees :	Not Divulged
Bankers :	Not Divulged
Facilities :	--

Banking Relations :	---
Auditors :
Name :	Anurag Purohit and Company Chartered Accountant
Address :	1^st Floor, Satya Complex, Thana Road, Kothi Bazar, Betul – 460001, Madhya Pradesh, India
Tel. No.:	91-7141-236833
Mobile No.:	91-9926368833
Email :	ca.anuragpurohit@gamil.com
PAN No.:	AOBPP1467K
Memberships :	Not Divulged
Collaborators :	Not Divulged
Related Party:	Betul Oil Limited

CAPITAL STRUCTURE

As on 28.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

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	0.100	0.100	0.100
(b) Reserves & Surplus	(0.210)	(0.216)	0.466
(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)	(0.110)	(0.116)	0.566
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.036	0.024	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)	0.036	0.024	0.000
(4) Current Liabilities
(a) Short term borrowings	85.783	57.073	46.325
(b) Trade payables	2.059	1.754	10.867
(c) Other current liabilities	5.636	3.180	0.475
(d) Short-term provisions	1.435	1.149	0.081
Total Current Liabilities (4)	94.913	63.156	57.748
TOTAL	94.839	63.064	58.314
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.208	1.267	1.255
(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	4.626	2.942	2.378
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	5.834	4.209	3.633
(2) Current assets
(a) Current investments	21.551	8.149	31.032
(b) Inventories	18.043	25.526	10.220
(c) Trade receivables	16.293	1.302	2.488
(d) Cash and cash equivalents	5.120	1.050	8.765
(e) Short-term loans and advances	25.152	20.256	2.176
(f) Other current assets	2.846	2.572
Total Current Assets	89.005	58.855	54.681
TOTAL	94.839	63.064	58.314

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	34.822	52.395	125.038
Less	EXPENSES
		Net Coal Purchase			103.922
		Coal Training Expenses			17.567
		Employee Remuneration			1.585
		Administrative Expenses			1.195
		Financial Charges			0.029
		TOTAL	33.370	51.794	124.298
	PROFIT BEFORE TAX		1.452	0.601	0.740
Less	TAX		1.446	1.283	0.361
	PROFIT AFTER TAX		0.006	(0.682)	0.379
	Earnings Per Share (Rs.)		0.60	(68.00)	(37.90)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	1.53	0.95	1.27
Return on Investment (ROI) (PBT/Networth)		(13.20)	(5.18)	1.31
Debt Equity Ratio (Total Debt /Networth)		(779.85)	(492.01)	81.85
Current Ratio (Current Asset/Current Liability)		0.94	0.93	0.95

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	0.100	0.100
Reserves & Surplus	0.466	(0.216)	(0.210)
Net worth	0.566	(0.116)	(0.110)
long-term borrowings	0.000	0.000	0.000
Short term borrowings	46.325	57.073	85.783
Total borrowings	46.325	57.073	85.783
Debt/Equity ratio	81.846	(492.009)	(779.845)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	125.038	52.395	34.822
		(58.097)	(33.539)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	125.038	52.395	34.822
Profit	0.379	(0.682)	0.006
	0.30%	(1.30)%	0.02%

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	No
10]	Designation of contact person	No
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	No
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 LOAN

(Rs. In Million)

Particulars	As on 31.03.2013	As on 31.03.2012
Short Term Borrowing
Others Loans and Advances	85.783	57.073
Total	85.783	57.073

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Land
• Vehicle
• Computer
• Weigh Bridge
• Office building
• Furniture and Fixture

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. 61.55
UK Pound	1	Rs. 97.55
Euro	1	Rs. 76.48

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	KLS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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	NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.