1. Summary Information

		Country	India
Company Name	JAINEX LIMITED	Principal Name 1	Mr. Rajendra Singh Dugar
Status	Satisfactory	Principal Name 2	Mr. Khozema Mohammed Faizullabhoy
		Registration #	11-094147
Street Address	405 and 406, Sharda Chambers, Sir Vithaldas Thackersey Marg, New Marine Lines, Mumbai – 400020, Maharashtra, India
Date of Established	18.07.1972	SIC Code	--
Telephone#	91-22-22002252	Business Style 1	Manufacturer
Fax #	91-22-22002254	Business Style 2	--
Homepage	http://www.jainexgroup.com	Product Name 1	Steel Strips and Wires
# of employees	Not Divulged	Product Name 2	Hypoid Gears
Paid up capital	Rs. 80,000,000 /-	Product Name 3	Hardened and Tempered Steel Strips
Shareholders	Bodies corporate – 28.00% Directors or relatives of Directors – 72.00%	Banking	Bank of Baroda
Public Limited Corp.	No	Business Period	42 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (46)
Related Company
Relation	Country	Company Name	CEO
Associates	India	Jainex Food Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	279,263,000	Current Liabilities	120,570,000
Inventories	108,166,000	Long-term Liabilities	56,804,000
Fixed Assets	48,981,000	Other Liabilities	4,537,000
Deferred Assets	0.00	Total Liabilities	181,911,000
Invest& other Assets	0.00	Retained Earnings	174,499,000
		Net Worth	254,499,000
Total Assets	436,410,000	Total Liab. & Equity	436,410,000
Total Assets (Previous Year)	389,023,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Total Income	1,301,384,000	Net Profit	31,298,000
Total Income (Previous yr)	1,218,586,000	Net Profit(Prev.yr)	30,818,000

MIRA INFORM REPORT

Report Date :

19.09.2014

IDENTIFICATION DETAILS

Name :	JAINEX LIMITED
Formerly Known As :	JAINEX AGENCIES LIMITED JAINEX AGENCIES PRIVATE LIMITED
Registered Office :	405 and 406, Sharda Chambers, Sir Vithaldas Thackersey Marg, New Marine Lines, Mumbai – 400020, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	18.07.1972
Com. Reg. No.:	11-094147
Capital Investment / Paid-up Capital :	Rs. 80.000 Millions
CIN No.: [Company Identification No.]	U51900MH1972PLC094147
TAN No.: [Tax Deduction & Collection Account No.]	MUMJ03913A
PAN No.: [Permanent Account No.]	AAACJ0917G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader, Importer, Exporter and Supplier of Cold Rolled Steel Strips, Hardened and Tempered Steel Strips and all types of Wires.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 1000000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and 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.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE

(CONTACT NO.: 91-22-23480608)

LOCATIONS

Registered Office :	405 and 406, Sharda Chambers, Sir Vithaldas Thackersey Marg, New Marine Lines, Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-22002252
Fax No.:	91-22-22002254
E-Mail :	accounts@jainexgroup.com info@jainexgroup.com
Website :	http://www.jainexgroup.com
Location :	Owned
Branch Offices :	Located at: · Bangalore · Chennai · Coimbatore · Hyderabad · Madurai · Pondicherry

DIRECTOR

AS ON 28.09.2013

Name :

Mr. Rajendra Singh Dugar

Designation :

Managing director

Address :

Sandeep Apartments, Pretoria Street, Kolkata - 700017, West Bengal, India

Date of Birth/Age :

31.10.1947

Qualification :

BE

Date of Appointment :

05.01.2007

PAN No.:

ADJPD5942N

DIN No.:

00063775

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	U45200WB1978PTC119158	TBL INDUSTRIAL & ENGINEERING EXPORTS PRIVATE LIMITED	Director	29/06/1978	29/06/1978	22/05/2010	Active	NO
2	U24211RJ1976PLC001686	JAYDEE AGRO CHEMICALS LIMITED	Director	16/08/1978	16/08/1978	-	Active	NO
3	U70109WB1996PTC079922	WESTEND ESTATES PVT.LTD.	Director	29/06/2002	29/06/2002	21/06/2012	Active	NO
4	U51900MH1972PLC094147	JAINEX LIMITED	Managing director	05/01/2007	05/01/2007	-	Active	NO
5	U45400WB2009PTC133696	TARA KIRAN PROPERTIES PRIVATE LIMITED	Director	10/03/2009	10/03/2009	-	Active	NO

Name :

Mr. Khozema Mohammed Faizullabhoy

Designation :

Managing director

Address :

44, Gulistan, Carmicheal Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

19.11.1944

Qualification :

MBA

Date of Appointment :

28.06.1978

PAN No.:

AAAPF0502G

DIN No.:

00013602

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	U51900MH1972PLC094147	JAINEX LIMITED	Managing director	28/06/1978	28/06/1978	-	Active	NO
2	U45200WB1978PTC119158	TBL INDUSTRIAL & ENGINEERING EXPORTS PRIVATE LIMITED	Director	29/06/1978	29/06/1978	22/05/2010	Active	NO
3	U29220MH1993PTC073766	TRUCUT TOOLS (INDIA) P LTD	Director	06/09/1993	06/09/1993	-	Active	NO
4	U15100MH1977PTC019691	JAINEX FOODS PRIVATE LIMITED	Director	10/06/1996	10/06/1996	-	Active	NO

Name :

Mr. Pravin Chimanlal Vora

Designation :

Whole-time director

Address :

Kasturba Apartments, 77, Bhaudaji Road, Matunga, Mumbai - 400019, Maharashtra, India

Date of Birth/Age :

10.07.1943

Qualification :

B. Com

Date of Appointment :

19.12.1996

PAN No.:

AAEPV4599D

DIN No. :

00013118

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	U51900MH1972PLC094147	JAINEX LIMITED	Whole-time director	19/12/1996	19/12/1996	-	Active	NO
2	L74999MH1947PLC005695	JAINEX AAMCOL LIMITED	Director	22/08/2002	22/08/2002	02/10/2007	Active	NO

Name :

Mr. Rahul Dugar

Designation :

Whole-time director

Address :

11A, Meherina Apartments, Nepeansea Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

10.11.1968

Qualification :

B. Com

Date of Appointment :

16.04.2004

PAN No.:

AABPD5471D

DIN No.:

00013704

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	U24232RJ1993PTC007183	DUGAR PHARMACEUTICALS PRIVATE LIMITED	Director	22/01/1993	22/01/1993	-	Active	NO
2	U24211RJ1976PLC001686	JAYDEE AGRO CHEMICALS LIMITED	Director	18/03/1996	18/03/1996	-	Active	NO
3	U15100MH1977PTC019691	JAINEX FOODS PRIVATE LIMITED	Director	11/11/1998	11/11/1998	-	Active	NO
4	U51900MH1974PTC017306	JAINEX IMPORTS AND EXPORTS PRIVATE LIMITED	Director	02/09/2002	02/09/2002	-	Active	NO
5	L74999MH1947PLC005695	JAINEX AAMCOL LIMITED	Director	31/07/2012	31/07/2003	-	Active	NO
6	U51900MH1972PLC094147	JAINEX LIMITED	Whole-time director	16/04/2004	16/04/2004	-	Active	NO
7	U45200MP2012PTC029628	DREAM PARADISE REALTY & INFRASTRUCTURE PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO

Name :

Mr. Mukarram Khoozema Faizullabhoy

Designation :

Whole-time director

Address :

44, Gulistan, Carmicheal Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

09.07.1976

Qualification :

B. Com

Date of Appointment :

16.04.2004

PAN No.:

AAAPF0500E

DIN No.:

00013754

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	U51900MH1972PLC094147	JAINEX LIMITED	Whole-time director	16/04/2004	16/04/2004	-	Active	NO
2	U29220MH1993PTC073766	TRUCUT TOOLS (INDIA) P LTD	Director	19/04/2004	19/04/2004	-	Active	NO
3	U92190MH2010NPL200546	RUGBY ASSOCIATON OF MAHARASHTRA	Director	03/03/2010	03/03/2010	-	Active	NO

Name :

Mr. Shabir Tyebbhoy

Designation :

Whole-time director

Address :

Old 16, New 14, 3^rd Cross Street, Kasturba Nagar, Adyar, Chennai - 600020, Tamilnadu, India

Date of Birth/Age :

25.07.1948

Qualification :

B. Com

Date of Appointment :

30.09.2010

PAN No.:

AADPT0246L

DIN No.:

03014427

Name :

Mr. Bhagat Singh Dugar

Designation :

Director

Address :

11A, Meherina Apartments, Nepeansea Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

23.10.1945

Date of Appointment :

23.03.1974

PAN No.:

AABPD5488J

DIN No.:

00013082

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	U51900MH1972PLC094147	JAINEX LIMITED	Director	23/03/1974	23/03/1974	-	Active	NO
2	U51900MH1974PTC017306	JAINEX IMPORTS AND EXPORTS PRIVATE LIMITED	Director	22/03/1987	22/03/1987	-	Active	NO
3	U15100MH1977PTC019691	JAINEX FOODS PRIVATE LIMITED	Director	31/08/2012	01/07/1993	-	Active	NO
4	L74999MH1947PLC005695	JAINEX AAMCOL LIMITED	Whole-time director	31/07/2012	30/07/1999	-	Active	NO
5	U18101MP2007PTC019771	STI PHOENIX WEAR PRIVATE LIMITED	Director	29/09/2012	22/03/2012	12/11/2013	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2013

Names of Shareholders	No. of Shares
Bhagat Singh Dugar	38215
Sushil Kumar Dugar	1600
Rajendra Singh Dugar	1480
Santosh Kumar Dugar	500
K. M. Faizullabhoy	64198
Kiran Kunvar Dugar	700
Madhu Dugar	3667
Madhuri Dugar	660
Meena Dugar	900
Dolly Dugar	900
A K Faizullabhoy Jointly with K M Faizullabhoy	23602
Jainex Imports and Exports Private Limited, India	44700
B.S. Dugar and Others	40358
R S Dugar	167
Rahul Dugar	166093
Jainex Foods Private Limited, India	59467
Durriya M Faizullabhoy	2500
Mukarram K Faizullabhoy	167720
Ananya Dugar	8534
Dvij Dugar	8234
Nandita Dugar	23825
Mustafa K Faizullabhoy Jointly with K.M. Faizullabhoy	3980
Mehlam K Faizullabhoy Jointly with K M Faizullabhoy	18000
Trucut Tools India Private Limited, India	120000
Total	800000

AS ON 28.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	28.00
Directors or relatives of directors	72.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader, Importer, Exporter and Supplier of Cold Rolled Steel Strips, Hardened and Tempered Steel Strips and all types of Wires.

Products/ Services :

ITC Code No.	Product Descriptions
72115100	Steel Strips and Wires

GENERAL INFORMATION

No. of Employees :

Information declined by the management

Bankers :

· Bank of Baroda, Mumbai Main Office, Mumbai Samachar Marg, Fort, Mumbai - 400001, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Other loans and advances	1.069	0.058
SHORT TERM BORROWINGS
Working capital loans from banks (Secured against hypothecation of Stock and Book Debts and guaranteed by Directors and further secured by Equitable Mortgage of Office Premises No. 405 and 406 at Sharda Chambers, Mumbai.)	6.976	15.406
Total	8.045	15.464

Banking Relations :	--
Auditors :
Name :	R. A. Singh and Associates Chartered Accountants
Address :	25, Saibaba Shopping Centre, Keshav Rao Kadam Marg, Mumbai Central, Mumbai – 400008, Maharashtra, India
Pan No.:	AAEPS4107J
Associates :	· Jainex Foods Private Limited [U15100MH1977PTC019691] · Trucut Tools (India) Private Limited [U29220MH1993PTC073766] · Jainex Imports and Exports Private Limited [U51900MH1974PTC017306] · Star Steels · Dugar Brothers and Company · Jainex Aamcol Limited [L74999MH1947PLC005695]

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs. 100/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
800000	Equity Shares	Rs. 100/- each	Rs. 80.000 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	80.000	60.000	60.000
(b) Reserves & Surplus	174.499	143.202	112.384
(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)	254.499	203.202	172.384
(3) Non-Current Liabilities
(a) long-term borrowings	49.828	76.898	55.836
(b) Deferred tax liabilities (Net)	2.864	2.923	2.984
(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)	52.692	79.821	58.820
(4) Current Liabilities
(a) Short term borrowings	6.976	22.471	43.514
(b) Trade payables	105.139	71.831	50.553
(c) Other current liabilities	15.431	9.967	9.393
(d) Short-term provisions	1.673	1.731	2.906
Total Current Liabilities (4)	129.219	106.000	106.366
TOTAL	436.410	389.023	337.570
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	48.981	49.191	50.395
(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	3.429	3.527	2.379
(e) Other Non-current assets	0.000	0.057	0.121
Total Non-Current Assets	52.410	52.775	52.895
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	108.166	101.234	75.291
(c) Trade receivables	227.532	188.346	164.839
(d) Cash and cash equivalents	29.857	35.289	35.417
(e) Short-term loans and advances	18.445	11.379	9.128
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	384.000	336.248	284.675
TOTAL	436.410	389.023	337.570

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations	1297.908	1212.800	1201.348
		Other Income	3.476	5.786	19.599
		TOTAL (A)	1301.384	1218.586	1220.947
Less	EXPENSES
		Purchases of Stock-in-Trade	1116.248	1053.164	1025.365
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(6.932)	(25.943)	(1.239)
		Employees benefits expense	31.359	28.850	21.967
		Other expenses	103.023	102.419	99.284
		TOTAL (B)	1243.698	1158.490	1145.377
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		57.686	60.096	75.570
Less	FINANCIAL EXPENSES (D)		5.996	9.021	8.822
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		51.690	51.075	66.748
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.139	5.138	4.420
	PROFIT BEFORE TAX (E-F) (G)		46.551	45.937	62.328
Less	TAX (H)		15.253	15.119	21.062
	PROFIT AFTER TAX (G-H) (I)		31.298	30.818	41.266
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	301.201	297.125	405.434
	Earnings Per Share (Rs.)		39.12	51.36	68.78

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.40	2.53	3.38
Net Profit Margin (PBT/Sales)	(%)	3.59	3.79	5.19
Return on Total Assets (PBT/Total Assets}	(%)	10.67	11.81	18.46
Return on Investment (ROI) (PBT/Networth)		0.18	0.23	0.36
Debt Equity Ratio (Total Debt/Networth)		0.22	0.49	0.58
Current Ratio (Current Asset/Current Liability)		2.97	3.17	2.68

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	60.000	60.000	80.000
Reserves & Surplus	112.384	143.202	174.499
Net worth	172.384	203.202	254.499
long-term borrowings	55.836	76.898	49.828
Short term borrowings	43.514	22.471	6.976
Total borrowings	99.350	99.369	56.804
Debt/Equity ratio	0.576	0.489	0.223

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	1201.348	1212.800	1297.908
		0.953	7.017

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	1201.348	1212.800	1297.908
Profit	41.266	30.818	31.298
	3.43%	2.54%	2.41%

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG TERM DEBT

Particulars	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)	31.03.2011 (Rs. In Millions)
Current maturities of long-term debt	0.616	0.574	0.818

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	Ye/s
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE: The Registered office of the company has been shifted from Broach Sadan, Ground Floor, Devji Ratansey Marg, Mumbai - 400009, Maharashtra, India to present address w.e.f. 16.08.2010.

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Intercorporate borrowings	1.000	1.000
Loans and advances from directors	11.360	19.164
Loans and advances from others	36.399	56.676
SHORT TERM BORROWINGS
Loans and advances from related parties	0.000	7.065
Total	48.759	83.905

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/ Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10236394	07/02/2012 *	82,500,000.00	BANK OF BARODA	MUMBAI MAIN OFFICE,, MUMBAI SAMACHAR MARG, FORT,,  MUMBAI, Maharashtra - 400001, INDIA	B32415663
2	80023860	07/02/2012 *	82,500,000.00	BANK OF BARODA	MUMBAI MAIN OFFICE, MUMBAI SAMACHAR MARG, FORT, M  UMBAI, Maharashtra - 400001, INDIA	B32354250

FIXED ASSETS

· Land

· Buildings

· Office Building

· Plant and Equipment

· Other plant and Equipment

· Furniture and Fixtures

· Vehicles

· Motor Vehicles

· Office Equipment

· Computer Equipments

OPERATIONS

During the year, though the steel sector had a slowdown but company's turnover improved marginally in local as well as exports. The handling contracts awarded by Tata Steel continues at Hyderabad. However, margins during the year had been at more or less at previous year's level. With current outlook, the company expects the market and margins to remain at previous year's level due to continuing slowdown in steel sector.

There has been no development in the position of appeal filed by the company on Kolkata Municipal Corporation in Calcutta High Court for the additional demand of municipal tax on the company's commercial premises. The company has paid the arrears of additional demand made by the corporation till March 2009 in earlier years under dispute to get the hearing of the appeal expedited/decided at the earliest.

The company has filed an appeal/application for cancellation of demand raised by Sales Tax Department, Maharashtra under MVAT and CST.

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. 60.99
UK Pound	1	Rs. 99.09
Euro	1	Rs. 79.03

INFORMATION DETAILS

Information Gathered by :	SVD
Analysis Done by :	KAR
Report Prepared by :	KLS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.