MIRA INFORM REPORT

Report Date :

17.10.2014

IDENTIFICATION DETAILS

Name :	METROLINE POWERS PRIVATE LIMITED [w.e.f.13.05.2010]
Formerly Known as :	METROLINE DEVELOPERS PRIVATE LIMITED
Registered Office :	Plot No.1, Local Shopping Centre, Sharda Niketan, Pitampura, New Delhi - 110034
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	06.12.2006
Com. Reg. No.:	55-156274
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U40102DL2006PTC156274
TAN No.: [Tax Deduction & Collection Account No.]	DELM15414A
PAN No.: [Permanent Account No.]	AAECM8856D
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of PVC Resins Polymers.
No. of Employees :	6 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

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 :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated on 6^th December 2006, it has recently commenced its business operations. It is having moderate track record. Mr. Arvind Tiwari, Consultant of the subject company has provided information to us and claimed that company has started its business operation from March 2014. As per available financial record of 2013, the company has incurred a huge pre-operating expense which has eroded net worth of the company. However, trade relations are improving. Business is active. Payments are reported to be unknown. The company can be considered for business dealings on safe and 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 willfully 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.

INFORMATION PARTED BY

Name :	Mr. Arvind Tiwari
Designation :	Consultant
Contact No.:	91-9717490056
Date :	14.10.2014

LOCATIONS

Registered Office :	Plot No.1, Local Shopping Centre, Sharda Niketan, Pitampura, New Delhi – 110034, India
Tel. No.:	91-124-4317700
Mobile No.:	91-9717490056 [Mr. Arvind Tiwari]
Fax No.:	Not Available
E-Mail :	cs@agsgroup.in

DIRECTORS

AS ON 02.09.2013

Name :	Mr. Ashish Gupta
Designation :	Director
Address :	Aerens Bimaldeep Complex, Behind Pocket D – III, Vasant Kunj, New Delhi - 110070, India
Date of Birth/Age :	19.12.1981
Qualification :	MBA from Northeastern University
Experience :	6 Years
Date of Appointment :	16.06.2012
DIN No.:	00012301
Name :	Mr. Lalit Kumar
Designation :	Additional director
Address :	G-30/250, Sector-3, Rohini, New Delhi - 110085, India
Date of Birth/Age :	24.07.1967
Qualification :	Graduate
Date of Appointment :	12.06.2014
DIN No.:	03289641

KEY EXECUTIVES

Name :	Mr. Arvind Tiwari
Designation :	Consultant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 02.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Vibha Gupta	5000	50.00
Amit Gupta	100	1.00
Aerens Goldsouk International Limited, India	4900	49.00
Total	10000	100.00

AS ON 02.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	49.00
Directors or relatives of directors	51.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of PVC Resins Polymers.

GENERAL INFORMATION

No. of Employees :	6 [Approximately]
Bankers :	· Punjab National Bank Prashant Vihar, Delhi - 110085, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	K.K. Goel and Associates Chartered Accountants
Address :	204, A.J. Chamber, 4th Street, Naiwala, Karol Bagh, New Delhi – 110005, India
Tel. No.:	91-11-28759712/ 28754827
Telefax :	91-11-28754827
E-Mail :	kkg200317@gmail.com kkg200317@rediffmail.com
Income-tax PAN of auditor or auditor's firm :	AAAFK7476Q

CAPITAL STRUCTURE

AFTER 02.09.2013

Authorised Capital : Rs. 15.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 0.100 Million

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	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	(0.418)	(0.407)	(0.395)
(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)	(0.318)	(0.307)	(0.295)
(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	0.340	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.340	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.010	0.350	0.350
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	0.010	0.350	0.350
TOTAL	0.032	0.043	0.055
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	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)	0.000	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	0.000	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.032	0.043	0.055
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	0.032	0.043	0.055
TOTAL	0.032	0.043	0.055

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from Operations	0.000	0.000	0.000
		Other Income	0.000	0.000	0.002
		TOTAL (A)	0.000	0.000	0.002
Less	EXPENSES
		Other Expenses	0.011	0.011	0.308
		TOTAL (B)	0.011	0.011	0.308
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.011)	(0.011)	(0.306)
Less	FINANCIAL EXPENSES (D)		0.001	0.001	0.008
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.012)	(0.012)	(0.314)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(0.012)	(0.012)	(0.314)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(0.012)	(0.012)	(0.314)
	Earnings/ (Loss) Per Share (Rs.)		(1.18)	(1.12)	(31.34)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.00	0.00	(15700.00)
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(37.50)	(27.91)	(570.91)
Return on Investment (ROI) (PBT/Networth)		0.04	0.04	1.06
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		3.20	0.12	0.16

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	(0.395)	(0.407)	(0.418)
Net worth	(0.295)	(0.307)	(0.318)
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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)
Total Income	0.002	0.000	0.000
		(100.000)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	0.002	0.000	0.000
Profit/ [Loss]	(0.314)	(0.012)	(0.012)
	(15700.00%)

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
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

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FINANCIAL INDICATORS

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2013-14 Estimated	2014-15 Projected	2015-16 Projected
1	Gross Sales	--	700.000	900.000
2	Net Sales	--	700.000	900.000
3	RM consumption / Cost of Production	--	0.90	0.91
4	Salary and Wages / Cost of Production	--	--	--
5	Cost of Sales / Net Sales	--	0.97	0.96
6	Operating Cost / Net Sales	--	0.99	0.99
7	Operating Profit	(0.015)	5.771	8.560
8	Profit before Tax	(0.015)	5.771	8.560
9	Net Profit	(0.015)	3.988	5.915
10	Depreciation	--	0.054	0.040
11	Cash Accruals	(0.015)	4.042	5.955
12	Interest	--	15.175	21.100
13	PBDIT	(0.015)	21.000	29.700
14	PBDIT / Interest	--	1.38	1.41
15	PBT / Net Sales	--	0.01	0.01
16	Net Profit / Net Sales	--	0.01	0.01
17	Net Profit / Gross Sales	--	0.01	0.01
18	Total Outside Liabilities	0.500	212.550	222.631
19	Paid-up Capital	0.100	30.000	30.000
20	Net Worth	(0.333)	63.554	69.469
21	TNW	(0.333)	63.554	69.469
22	TOL / TNW	(1.50)	3.34	3.20
23	Net Profit / Net Worth	0.05	0.06	0.09
24	ROCE ( PBDIT / Total Assets )	(0.09)	0.08	0.10
25	TTL / TNW	--	--	--
26	Net DSCR ( Cash accruals / Term Loan installments)	NA	NA	NA
27	Current Assets	0.167	275.658	291.660
28	Current Liabilities	0.500	212.550	222.631
29	NWC	(0.333)	63.108	69.028
30	Current Ratio	0.33	1.30	1.31
31	NWC to TCA	(1.99)	0.23	0.24
32	Bank Finance to TCA	--	0.58	0.55
33	Sundry Creditors to TCA	--	0.10	0.13
34	Other Current Liabilities to TCA	2.99	0.09	0.09
	LEVELS IN DAYS
a.	Inventory	--	5.000	4.000
b.	Receivables	--	9.000	7.500
c.	Inventory + Receivables to Net Sales	--	14.000	11.500
d.	Sundry Creditors	--	1.343	1.533

------------------------------------------------------------------------------------------------------------------------------

CASH FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2013-14 Estimated	2014-15 Projected	2015-16 Projected
1	SOURCES OF FUND
	a. Profit before tax	(0.015)	3.988	5.915
	b. Reserve plus Deferred Liabilities	--	30.000	--
	c. Increase in Capital	--	29.900	--
	d. Share application Money	--	--	--
	e. Increase in Term Liabilities	--	--	--
	f. Increase in Bank Borrowing	--	65.000	--
	g. Increase in Sundry Creditors	--	28.767	8.219
	g1. Increase in Sundry Creditors ag LC	--	20.000	--
	h. Increase in Other Current Liabilities	0.150	3.283	1.862
	TOTAL (A)	0.135	180.938	15.996
2	APPLICATION OF FUND
	a. Preliminary Expense	--	--	--
	b. Increases in Capital Expense	--	0.446	(0.005)
	c. Increase in Inventory	-	95.890	2.740
	d. Increase in Receivables	--	172.603	12.329
	e. Increase in Other Current Assets	--	2.000	2.000
	f. Increase in Non-Current Assets	--	--	--
	g. Profit and Loss	--	--	--
	TOTAL (B)	--	270.939	17.063
	Opening Balance	0.032	0.167	(89.834)
	Net Surplus	0.135	(90.001)	(1.068)
	Closing Balance	0.167	(89.834)	(90.902)

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ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2013-14 Estimated	2014-15 Projected	2015-16 Projected
1	GROSS SALES
	a. Export	--	700.000	900.000
	b. Domestic	--	--	--
2	c. Other Income and Incentive	--	--	--
3	Net Sales (1-2)	--	700.000	900.000
4	% rise or fall in net sales	--	--	28.57
	COST OF SALES :
i.	Raw Materials/Finished Materials	--	771.390	868.540
	a. Imported	--	80.000	80.000
	b. Indigenous	--	691.390	788.540
ii.	Other spares	--	--	--
	a. Imported	--	--	--
	b. Indigenous	--	--	--
iii.	Power and Fuel	--	--	--
iv.	Wages	--	--	--
v.	Rent	--	--	--
v	Wages	--	--	--
vi.	Depreciation	--	0.054	0.040
vii.	Subtotal ( i to viii )	--	771.444	868.580
viii.	Add: Opening stock-in-process	--	--	--
ix.	Deduct: Closing stock-in-process	--	--	--
x.	COST OF PRODUCTION / PURCHASE	--	771.444	868.580
xi.	Add: Opening stock of finished goods	--	--	95.890
xii.	Deduct: Closing stock of finished goods	--	95.890	98.630
xiii.	COST OF SALES	--	675.554	865.840
6	Gross Profit	--	24.446	34.160
7	% of Gross Profit	--	3.49	3.80
8	Selling, general and administrative expenses	0.015	3.500	4.500
9	Sub Total (5+8)	0.015	679.054	870.340
10	Operating Profit before interest	(0.015)	20.946	29.660
11	Interest	--	15.175	21.100
12	Operating Profit after interest	(0.015)	5.771	8.560
13	a. Other non-operating income	--	--	--
	b. Other non-operating expenses	--	--	--
	c. Net other non-operating income	--	--	--
14	PROFIT / LOSS BEFORE TAX	(0.015)	5.771	8.560
15	Provision for taxes including Deferred Tax	--	1.783	2.645
16	NET PROFIT / (LOSS) (14-15)	(0.015)	3.988	5.915
17	Dividend Paid + Provision	--	--	--
18	Retained Profit (16-17)	(0.015)	3.988	5.915
19	% of Net Profit retained (18/16)	100.00	100.00	100.00

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ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2013-14 Estimated	2014-15 Projected	2015-16 Projected
	LIABILITIES
	CURRENT LIABILITIES
1	Short term borrowings from Banks :
	a. From applicant Bank	--	65.000	65.000
	b. From other banks (Book overdraft)	--	95.000	95.000
	Sub Total (A)	--	160.000	160.000
2	Sundry Creditors (Against LC)	--	20.000	20.000
3	Sundry Creditors (Domestic)	--	28.767	36.986
4	Advance payments from customer	--	--	--
5	Provision for Taxation	--	1.783	2.645
6	Dividend Payable	--	--	--
7	Other Statutory liabilities (due within year)	--	--	--
8	Installments of Term Loans / DPCs	--	--	--
8a	Accrued interest	--	--	--
9	Other current liabilities and provision	0.500	2.000	3.000
10	Sub Total (B)	0.500	52.550	62.631
	TOTAL CURRENT LIABILITIES (A + B)	0.500	212.550	222.631
	TERM LIABILITIES
11	Debentures (not maturing within one year)	--	--	--
12	Advance from Customers (Long Term)	--	--	--
13	Term Loans (excl. installments payable)	--	--	--
14	Creditors for Goods (Long Term)	--	--	--
15	Unsecured Loan from Bank	--	--	--
16	Other Term Liabilities (Unsecured Loan)	--	--	--
17	TOTAL TERM LIABILITIES	--	--	--
18	TOTAL OUTSIDE LIABILITIES	0.500	212.550	222.631
19	Capital	0.100	30.000	30.000
20	Share Premium	--	--	--
21	Interest free unsecured loans (Quasi)	--	30.000	30.000
22	Share Application Money	--	--	--
23	Surplus / Deficit in Profit and Loss A/c	(0.433)	3.554	9.469
23a	Others (Specify)	--	--	--
24	NET WORTH	(0.333)	63.554	69.469
25	TOTAL LIABILITIES	0.167	276.105	292.101
	ASSETS
	CURRENT ASSETS
26	Cash and Bank balances	0.167	2.382	1.453
27	Investments (other than long term investments)	--	2.000	2.000
	a. Govt. and other Trustee securities	--	--	--
	b. Margin Money for LC (FDR)	--	2.000	2.000
28	a. Receivables other than deferred	--	172.603	184.932
	b. Export receivables (incl. bills purchase)	--	--	--
29	Installments of deferred receivable	--	--	--
30	Inventory :	--	95.890	98.630
	I. Raw materials	--	--	--
	a. Imported	--	--	--
	b. Indigenous	--	--	--
	ii (a). Stock-in-process - In factory	--	--	--
	ii (b). Stock-in-process - Const. in pro	--	--	--
	iii. Finished goods	--	95.890	98.630
	iv. Other consumable spares	--	--	--
	a. Imported	--	--	--
	b. Indigenous	--	--	--
31	Advances to suppliers of Raw material	--	--	--
32	Advance payment of taxes	--	1.783	2.645
33	Other current assets (Specify)	--	1.000	2.000
34	TOTAL CURRENT ASSETS	0.167	275.658	291.660
	FIXED ASSETS
35	Gross Block*	--	0.500	0.535
36	Depreciation to date	--	0.054	0.094
37	NET BLOCK ( 35-36)	--	0.446	0.441
	OTHER NON-CURRENT ASSETS
38	Investments, Book Debts, advances, deposits which are not current :
	i. Investments in subsidiary cos./ affiliates	--	--	--
	ii. Advances to suppliers of capital goods	--	--	--
	iii. Deferred receivables-Interest accrued	--	--	--
	iv. FDR from Margin Money	--	--	--
	v. Others	--	--	--
39	Non-consumable stores and spares	--	--	--
40	Other non-current assets including	--	--	--
41	TOTAL OTHER NON-CUR ASSETS	--	--	--
42	Intangible assets (patents, goodwill, patents etc.)	--	--	--
43	TOTAL ASSETS (34+37+41+42)	0.167	276.104	292.101
44	TANGIBLE NET WORTH (24-42+16)	(0.333)	63.554	69.469
45	NET WORKING CAPITAL (17+24) - (37+41+42)	(0.333)	63.108	69.028
46	Current Ratio	0.33	1.30	1.31
47	TOL / TNW	(1.50)	3.34	3.20
48	TTL / TNW	--	--	--

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FUND FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2013-14 Estimated	2014-15 Projected	2015-16 Projected
1	SOURCES
	a. Net Profit	--	5.771	8.560
	b. Depreciation	--	0.054	0.040
	c. Increase in Capital	--	59.900	--
	d. Increase in Term Liabilities	--	--	--
	e. Increase in share application money	--	--	--
	f. Decrease in :
	i) Fixed Assets	--	--	--
	ii) Non-current assets	--	--	--
	f. Others (Profit and Loss Balance)	--	--	--
	g. TOTAL (A)	--	65.725	8.600
2	USES
	a. Net loss	0.015	--	--
	b. Taxation Adjustment/Dividend	--	1.783	2.645
	c. Decrease in Term Liabilities	--	--	--
	d. Increase in:
	i) Fixed Assets	--	0.500	0.035
	ii) Non-current assets (Security Deposit)	--	--	--
	e. Others (Preliminary Expenses)	--	--	--
	f. TOTAL (B)	0.015	2.283	2.680
3	Long Term Surplus/Deficit	(0.015)	63.442	5.920
4	Changes in Current Assets (increase / decrease)	0.135	275.491	16.001
5	Changes in other current liabilities (other than bank borrowings)	0.150	52.050	10.081
6	Change in working capital gap (4-5)	(0.015)	223.441	5.920
7	Net Surplus / Deficit (3-6)	(0.000)	(159.999)	(0.000)
8	Change in Bank Borrowings	--	160.000	--

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COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITES

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2013-14 Estimated	2014-15 Projected	2015-16 Projected
1	Raw materials including stores and other items used in the process of manufacturing
	(a) Imported : Amount	--	--	--
	: Month's consumption	--	--	--
	(b) Indigenous : Amount	--	--	--
	: Month's consumption	--	--	--
2	Other consumable spares, exc. those included in (1) above
	(a) Imported : Amount	--	--	--
	: Month's consumption	--	--	--
	(b) Indigenous : Amount	--	--	--
	: Month's consumption	--	--	--
3	Stocks-in-process : Amount	--	--	--
	: Month's	--	--	--
4	Finished goods : Amount	--	95.890	98.630
	: Month's cost of Sales	--	(1.70)	(1.37)
5	Receivables other than export and deferred receivables (Including bills purchased and discounted by bank)
	: Amount	--	172.603	184.932
	Month's Domestic Sales	--	(2.96)	(2.47)
6	Export receivables (including bills purchased and disc.)
	: Amount	--	--	--
	: Month's export Sales	--	--	--
7	Advance to suppliers of materials and stores/spares	--	--	--
8	Other current assets including cash and bank balances receivables due within one year(specify major items)
	: Cash and bank balances	0.167	2.382	1.453
	: Investment (FDR for LC )	--	2.000	2.000
	: Others (Advance to Suppliers)	--	1.000	2.000
9	TOTAL CURRENT ASSETS	--	273.875	289.015
	II. CURRENT LIABILITIES (Other than bank borrowing for working capital)
10	Creditors for purchase of raw material (Domestic)
	: Amount	--	28.767	36.986
	: Month's Purchase	--	(0.50)	(0.56)
11	Creditors for purchase of raw material (Import)
	: Amount	--	20.000	20.000
	: Month's Purchase	--	3.00	3.00
12	Advance from customers	--	--	--
13	Statutory liabilities	--	--	--
14	Other current liabilities-specify major items
	a) Sundry Creditors for Capital Goods	--	--	--
	b) Dividend payable	--	--	--
	c) Installments of TL, DPS and public	--	--	--
	d) Other current liabilities and provisions	0.500	2.000	3.000
15	TOTAL CURRENT LIABILITES	0.500	50.767	59.986

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COMPUTATION OF ASSESSED BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2013-14 Estimated	2014-15 Projected	2015-16 Projected
1	Total Current Assets	0.167	275.658	291.660
2	Other Current Liabilities	0.500	52.550	62.631
3	Working Capital Gap	(0.333)	223.108	229.028
4	Net Working Capital	(0.333)	63.108	69.028
5	Assessed Bank Finance	0.000	160.000	160.000
6	NWC to Total Current Assets	(2.00)	0.23	0.24
7	Bank Finance to TCA	--	0.58	0.55
8	Sundry Creditors to TCA	--	0.10	0.13
9	Other Current Liabilities to TCA	2.99	0.09	0.09
10	Inventory to Net Sales (days)	--	50.00	40.00
11	Receivables to Gross Sales (days)	--	90.00	75.00
12	Sundry Creditors to Purchases (days)	--	13.43	15.33

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COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

FIRST METHOD OF LENDING

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2013-14 Estimated	2014-15 Projected	2015-16 Projected
1	Total Current Assets	0.167	275.658	291.660
2	Other Current Liabilities (other than LC Creditors)	0.500	32.550	42.631
3	Working Capital Gap	(0.333)	243.108	249.028
4	Min. stipulated Net Working Capital (25% of WCG)	(0.083)	60.777	62.257
5	Net Working Capital	(0.333)	63.108	69.028
6	Item 3 minus item 4	(0.250)	182.331	186.771
7	Item 3 minus item 5	0.000	180.000	180.000
8	Maximum permissible bank finance (lower of 6 or 7)	(0.250)	180.000	180.000
9	Excess borrowings representing short	0.250	--	--

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COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

SECOND METHOD OF LENDING

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2013-14 Estimated	2014-15 Projected	2015-16 Projected
1	Total Current Assets	0.167	275.658	291.660
2	Other Current Liabilities (other than LC Creditors)	0.500	32.550	42.631
3	Working Capital Gap	(0.333)	243.108	249.028
4	Min. stipulated Net Working Capital (25% of WCG)	0.042	68.915	72.915
5	Net Working Capital	(0.333)	63.108	69.028
6	Item 3 minus item 4	(0.375)	174.193	176.113
7	Item 3 minus item 5	0.000	180.000	180.000
8	Maximum permissible bank finance (lower of 6 or 7)	(0.375)	174.193	176.113
9	Excess borrowings representing short	0.375	5.806	3.887

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STATEMENT OF ASSETS AND LIABILITIES

MR. ASHISH GUPTA

(RS. IN MILLIONS)

PARTICULARS	AS PER BOOK VALUE AMOUNTS	AS PER MARKET VALUE AMOUNTS
ASSETS
Advances against properties	1.014	0.200
Advance receivables	0.096	0.096
3589854 Shares of M/s. Aerens Goldsouk International Limited	5.184	173.175
Shares and Debentures [Others]	144.830	144.830
Investment in Government Securities	0.739	0.739
Balance with Bank	0.495	0.495
Cash in hand	0.038	0.038
LIC	0.184	0.184
Jewellery	2.150	4.649
TOTAL AMOUNTS [A]	154.730	324.406
LIABILITIES
Advance received	147.850	147.850
Sundry Creditors	0.285	0.285
Expenses Payable	0.021	0.021
TOTAL AMOUNTS [B]	148.156	148.156
NETWORTH [A-B]	6.574	176.250

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BRIEF PROFILE OF THE COMPANY

This is with reference to request for sanction of working capital facility we state that Metroline Powers Private limited (MPPL), formally known as Metroline Developers private Limited a closely held private limited company incorporated under Companies Act 1956 in December 2006. Because of Directors interest in the polymers granules they started the trading of polymers items. The company would procure polymers granules consisting LPPE, PVC Chloide, PVC resins, PBT, HDPE, TPE which are widely used in manufacturing of white goods, auto accessories and parts, telecommunication, optical and electrical wire etc.

The company has started it operational activities in March-2014 only and it started trading from domestic raw materials it has planned to import from Taiwan, Japan, Korea and China.

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INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10489416	29/03/2014	80,000,000.00	PUNJAB NATIONAL BANK	PRASHANT VIHAR, DELHI, DELHI - 110085, INDIA	C03665379

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CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from A-15, 1st Floor, Annexe Main, Hauj Khas, New Delhi – 110016, India to the present address w.e.f.02.07.2012.

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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. 61.48
UK Pound	1	Rs. 98.24
Euro	1	Rs. 78.66

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	DIV
Report Prepared by :	BVA

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	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--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	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		12

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.