IRA INFORM REPORT

Report No. :	315603
Report Date :	07.04.2015

IDENTIFICATION DETAILS

Name :	SINGHAL ENTERPRISES PRIVATE LIMITED
Registered Office :	Century Towers, 3^rd Floor, Room No.303, 45, Shakespeare Sarani, Kolkata – 700 017, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.02.1997
Com. Reg. No.:	21-082924
Capital Investment / Paid-up Capital :	Rs.20.643 Million
TAN No.: [Tax Deduction AND Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
CIN No.: [Company Identification No.]	U52110WB1997PTC082924
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporting of Sponge Iron, Power Generation, MS Ingots etc.
No. of Employees :	800 (Approximately)

RATING AND COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 5900000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Exist
Comments :	Subject is an established company satisfactory track. Management of the company has failed to file its financials after F.Y. 2007 with the statutory authorities. Mr. Sudhir Agrawal (CA) has provided complete information and confirmed that the company possesse 2units i.e. Raigarh (Chattisgarh), Jharsuguda (Odisha) which are legally under the subject but are managed separately since 2007-2008 and there has been no inter unit transactions since then. Further there is a proposal filed to demerge this units into separate entity and the matter is currently sub judice but apparently seen to be won by the subject. Further, following the dispute the other party to the dispute has floated a new company named as singhal Enterprises (Jharsuguda) Private Limited which seems to be company referring to the demerged unit. Hence due to ongoing disputes the financials of the said year could not be filed by the management but they have been kind enough to provide us the latest financials of FY14. Moreover, significantly we would make on that the Raigarh unit considering the same as the subject, possesses and acceptable financial profile marked by a healthy net worth, low gearing and adequate debt protection metrics along with average working capital management. Management has witnessed a consecutive decline in its net profitability during FY 14. However, trade relations are fair. Business is active. Payment terms are reported to be usually correct. The subject can be considered for business dealing at usual trade terms and conditions whereas, we recommend constant monitoring of the ongoing judicial matter and any effect if on the business profile of the subject.

NOTES:

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating=BBB-
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	25.07.2014

Rating Agency Name	CRISIL
Rating	Short term rating=A3
Rating Explanation	Have moderate degree of safety and carry higher credit risk.
Date	25.07.2014

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. Sudhir Agrawal
Designation :	Chartered Accountant
Contact No.:	91-9993569928
Date :	31.03.2015

LOCATIONS

Registered Office :	Century Towers, 3^rd Floor, Room No.303, 45, Shakespeare Sarani, Kolkata – 700 017, West Bengal, India
Tel. No.:	91-7767-2880662-66
Mobile No.:	91-9993569928 (Mr. Sudhir Agrawal)
Fax No.:	91-7767-2880663
E-Mail :	singhalent@yahoo.co.in skpatnaikassocites@gmail.com ca.sudhir@yahoo.co.in nirajk_dkc@yahoo.co.in
Administrative Office :	201, 2^nd Floor, Madan Complex, Shankar Nagar, Raipur – 492 007, Chhattisgarh, India
Factory :	Village Taraimal, P.O. Gerwani, District Raigarh – 496 001, Chhattisgarh, India

DIRECTORS

AS ON 21.09.2007

Name :

Mr. Sanjay Agarwal

Designation :

Managing Director

Address :

45, Shakespeare Sarani, 303, century Tower, Kolkata – 700 017, West Bengal, India

Date of Appointment :

21.06.2000

DIN No.:

00537476

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	U52110WB1997PTC082924	SINGHAL ENTERPRISES PRIVATE LIMITED	Managing director	21/06/2000	21/06/2000	-	Active	YES
2	U63090WB2003PTC095683	SINGHAL CARRIERS PRIVATE LIMITED	Director	21/01/2003	21/01/2003	-	Active	YES
3	U65999WB1995PTC067721	SUKANYA TRADING AND FINANCE PRIVATE LIMITED	Director	05/06/2006	05/06/2006	-	Active	NO
4	U40106WB2007PTC115193	SINGHAL ENERGY PRIVATE LIMITED	Director	16/04/2007	16/04/2007	-	Active	NO
5	U27100WB2007PTC115906	SINGHAL STEEL PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
6	U45203WB2007PTC115905	S. A. ENCLAVE PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
7	U27106WB2007PTC115907	SINGHAL ALLOYS ISPAT PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
8	U65999WB1996PTC081996	BSJ FINANCIAL SERVICES PRIVATE LIMITED	Director	30/05/2007	30/05/2007	-	Active	NO
9	U10101CT2007PTC020161	MADANPUR (NORTH) COAL COMPANY Private LIMITED	Nominee director	06/08/2007	06/08/2007	-	Active	NO
10	U27100WB2008PTC126902	SINGHAL STEEL AND POWER PRIVATE LIMITED	Director	25/06/2008	25/06/2008	-	Active	NO
11	U51909WB1990PTC049193	SHEILY FISCAL SERVICES PRIVATE LIMITED	Director	01/09/2008	01/09/2008	-	Active	NO
12	U27109WB1986PTC040582	TAURUS ISPAT PRIVATE LIMITED	Director	01/11/2008	01/11/2008	02/11/2008	Active	NO
13	U28931CT1991PTC006418	SHRI SHYAM ISPAT(INDIA) PRIVATE LIMITED	Director	27/04/2009	27/04/2009	-	Active	NO

Name :

Mrs. Sumitra Devi Agarwal

Designation :

Director

Address :

16, Palm Avenue, Flat No.401, 402, Kolkata – 700 019, West Bengal, India

Date of Appointment :

01.04.2006

DIN No.:

00537294

Name :

Mr. Samta Agarwal

Designation :

Director

Address :

16, Palm Avenue, Flat No.401, 402, Kolkata – 700 019, West Bengal, India

Date of Appointment :

01.04.2006

DIN No.:

00537413

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	U52110WB1997PTC082924	SINGHAL ENTERPRISES PRIVATE LIMITED	Director	01/04/2006	01/04/2006	Active	YES
2	U02710CT2006PTC018612	S A ISPAT PRIVATE LIMITED	Director	28/04/2006	28/04/2006	Active	NO

Name :

Mr. Ajay Agarwal

Designation :

Whole-time Director

Address :

45, Shakespeare Sarani, 303, century Tower, Kolkata – 700 017, West Bengal, India

Date of Appointment :

17.07.2001

DIN No.:

00537579

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	U52190WB1990PTC050216	PARAMPARA IMPEX PRIVATE LIMITED	Director	11/11/1997	11/11/1997	21/11/2007	Active	NO
2	U52110WB1997PTC082924	SINGHAL ENTERPRISES PRIVATE LIMITED	Whole-time director	17/07/2001	17/07/2001	-	Active	YES
3	U65999WB1995PTC067721	SUKANYA TRADING AND FINANCE PRIVATE LIMITED	Director	05/06/2006	05/06/2006	-	Active	NO
4	U40106WB2007PTC115193	SINGHAL ENERGY PRIVATE LIMITED	Director	16/04/2007	16/04/2007	-	Active	NO
5	U27100WB2007PTC115906	SINGHAL STEEL PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
6	U45203WB2007PTC115905	S. A. ENCLAVE PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
7	U27106WB2007PTC115907	SINGHAL ALLOYS ISPAT PRIVATE LIMITED	Director	18/05/2007	18/05/2007	-	Active	NO
8	U65999WB1996PTC081996	BSJ FINANCIAL SERVICES PRIVATE LIMITED	Director	30/05/2007	30/05/2007	-	Active	NO
9	U27100WB2008PTC126902	SINGHAL STEEL AND POWER PRIVATE LIMITED	Director	25/06/2008	25/06/2008	-	Active	NO
10	U51909WB1990PTC049193	SHEILY FISCAL SERVICES PRIVATE LIMITED	Director	01/09/2008	01/09/2008	-	Active	NO
11	U27109WB1986PTC040582	TAURUS ISPAT PVT LIMITED	Director	01/11/2008	01/11/2008	02/11/2008	Active	NO
12	U28931CT1991PTC006418	SHRI SHYAM ISPAT(INDIA) PRIVATE LIMITED	Director	27/04/2009	27/04/2009	-	Active	NO

Name :

Mr. Parmeshwar Das Agarwal

Designation :

Director

Address :

45, Shakespeare Sarani, 303, century Tower, Kolkata – 700 017, West Bengal, India

Date of Appointment :

14.02.1997

DIN No.:

00550633

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	U27320WB1985PTC038456	S M SCRAP PROCESSING COMPANY PRIVATE LIMITED	Director	12/11/1986	12/11/1986	21/11/2007	Active	NO
2	U52190WB1990PTC050216	PARAMPARA IMPEX PRIVATE LIMITED	Director	19/08/1992	19/08/1992	21/11/2007	Active	NO
3	U52110WB1997PTC082924	SINGHAL ENTERPRISES PRIVATE LIMITED	Director	14/02/1997	14/02/1997	-	Active	YES
4	U51909WB1993PTC060802	VARIETY COMMOTRADE PRIVATE LIMITED	Director	12/01/1998	12/01/1998	21/11/2007	Active	NO
5	U67120WB1993PTC059302	SIMPLE VINIYOG PVT LIMITED	Director	16/10/1998	16/10/1998	10/01/2009	Active	NO
6	U63090WB2003PTC095683	SINGHAL CARRIERS PRIVATE LIMITED	Director	21/01/2003	21/01/2003	-	Active	YES
7	U51109WB1993PTC061043	MARITIME MERCHANTS PRIVATE LIMITED	Director	21/11/2003	21/11/2003	21/11/2007	Active	NO
8	U27100WB2007PTC115906	SINGHAL STEEL PRIVATE LIMITED	Director	18/05/2007	18/05/2007	10/12/2008	Active	NO
9	U45203WB2007PTC115905	S. A. ENCLAVE PRIVATE LIMITED	Director	18/05/2007	18/05/2007	10/12/2008	Active	NO
10	U27106WB2007PTC115907	SINGHAL ALLOYS ISPAT PRIVATE LIMITED	Director	18/05/2007	18/05/2007	10/12/2008	Active	NO
11	U65999WB1996PTC081996	BSJ FINANCIAL SERVICES PRIVATE LIMITED	Director	30/05/2007	30/05/2007	01/01/2009	Active	NO
12	U45400WB2013PTC199280	B S ENGINEERING AND CONSTRUCTION PRIVATE LIMITED	Director	30/12/2013	30/12/2013	-	Active	NO

Name :

Mrs. Rita Kamalia

Designation :

Director

Address :

45, Shakespeare Sarani, 303, century Tower, Kolkata – 700 017, West Bengal, India

Date of Appointment :

01.04.2006

DIN No.:

00981062

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	U27100WB1995PTC139881	SUMIT ISPAT PRIVATE LIMITED	Director	31/03/1995	31/03/1995	-	Active	NO
2	U00331WB1996PLC136210	SUMIT INDUSTRIESLIMITED	Director	30/01/1996	30/01/1996	-	Active	NO
3	U45303BR1990PTC004246	K B TECHNIC PRIVATE LIMITED	Director	12/04/2002	12/04/2002	28/01/2010	Active	NO
4	U52110WB1997PTC082924	SINGHAL ENTERPRISES PRIVATE LIMITED	Director	01/04/2006	01/04/2006	-	Active	YES
5	U27102MP2004PTC017007	EUREKA IRON AND ENERGY PRIVATE LIMITED	Director	16/08/2006	16/08/2006	07/07/2007	Active	NO
6	U67120WB2008PTC126286	DIKSHA SECURITIES PRIVATE LIMITED	Director	30/05/2008	30/05/2008	-	Active	NO
7	U27100WB2007PTC115906	SINGHAL STEEL PRIVATE LIMITED	Director	01/04/2010	01/04/2010	02/04/2012	Active	NO
8	U40106WB2007PTC115193	SINGHAL ENERGY PRIVATE LIMITED	Director	01/04/2010	01/04/2010	02/04/2012	Active	NO
9	U28931CT1991PTC006418	SHRI SHYAM ISPAT(INDIA) PRIVATE LIMITED	Director	01/04/2010	01/04/2010	02/04/2012	Active	NO

Name :

Mr. Nitu Agarwal

Designation :

Director

Address :

16, Palm Avenue, Flat No.401, 402, Kolkata – 700 019, West Bengal, India

Date of Appointment :

01.04.2006

DIN No.:

02239250

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	U52110WB1997PTC082924	SINGHAL ENTERPRISES PRIVATE LIMITED	Director	01/04/2006	01/04/2006	Active	YES
2	U02710CT2006PTC018612	S A ISPAT PRIVATE LIMITED	Director	28/04/2006	28/04/2006	Active	NO

KEY EXECUTIVES

Name :	Mr. Sudhir Agrawal
Designation :	Chartered Accountant

MAJOR SHAREHOLDERS

AS ON 21.09.2007

Names of Shareholders	No. of Shares
Parmeshwar Agarwal	280100
Radha Kishan Agarwal	60100
Parmeshwar Das Agarwal (HUF)	30000
Radha Kishan Agarwal (HUF)	115000
Ajay Agarwal (HUF)	78500
Sanjay Agarwal (HUF)	100000
Nitu Agarwal	141000
Hemant Agarwal	40000
Samata Agarwal	198000
Sanjay Agarwal	250000
Ajay Agarwal	272000
Sumitra Agarwal	14000
Sukanya Trading and Finance Private Limited, India	485100

Equity Share Break up (Percentage of Total Equity)

AS ON 21.09.2007

Category	Percentage
Bodies corporate	10.00
Directors or relatives of Directors	90.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporting of Sponge Iron, Power Generation, MS Ingots etc.
Products :	Sponge Iron Power Generation MS Ingots etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	South Africa
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash (Depend) and Cheque

GENERAL INFORMATION

Suppliers :

Reference :	Mind price Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Wholesalers and Manufacturer:

Reference :	Rama Power and Ested Private Limited
Reference 2:	R.S. Ispat limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

800 (Approximately)

Bankers :

• HDFC Bank Limited, Sanapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, India

Bank Name	State Bank of India
Branch	Commercial Branch, Kolkata, West Bengal, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Financial Intitution:	Tata Capital Limited, One Forbes, Dr. V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India
Auditors :
Name :	D K Chhajer and Company Chartered Accountants
Address :	Kolkata, West Bengal, India
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Anergy Private Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed AND Paid-up Capital :

No. of Shares	Type	Value	Amount
2064300	Equity Shares	Rs.10/- each	Rs.20.643 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	20.643	20.643	20.643
(b) Reserves AND Surplus	2044.768	1983.221	1873.867
(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)	2065.411	2003.864	1894.510
(3) Non-Current Liabilities
(a) long-term borrowings	0.620	3.233	3.098
(b) Deferred tax liabilities (Net)	64.423	68.836	11.549
(c) Other long term liabilities	10.935	10.935	10.935
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	75.978	83.004	25.582
(4) Current Liabilities
(a) Short term borrowings	681.556	592.019	742.797
(b) Trade payables	167.684	67.894	67.420
(c) Other current liabilities	19.429	19.722	58.788
(d) Short-term provisions	58.815	105.042	83.699
Total Current Liabilities (4)	927.484	784.677	952.704
TOTAL	3068.873	2871.545	2872.796
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	648.002	722.648	812.201
(ii) Intangible Assets	0.041	0.069	0.115
(iii) Capital work-in-progress	396.363	374.857	368.544
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	9.123	9.123	8.983
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	106.708	83.687	89.495
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1160.237	1190.384	1279.338
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	519.783	318.639	194.532
(c) Trade receivables	250.233	247.270	294.147
(d) Cash and cash equivalents	396.027	293.256	316.660
(e) Short-term loans and advances	136.732	131.313	258.229
(f) Other current assets	605.861	690.683	529.890
Total Current Assets	1908.636	1681.161	1593.458
TOTAL	3068.873	2871.545	2872.796

PROFIT AND LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	3425.078	3740.928	3789.055
	Other Income	25.493	24.302	7.460
	TOTAL (A)	3450.571	3765.230	3796.515
Less	EXPENSES
	Cost of Materials Consumed	2886.500	3176.917	3173.505
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	12.327	(13.375)	(7.333)
	Employees benefits expense	65.490	52.775	47.414
	Other expenses	298.952	302.107	293.591
	TOTAL (B)	3263.269	3518.424	3507.177
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	187.302	246.806	289.338
Less	FINANCIAL EXPENSES (D)	36.615	51.549	67.629
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	150.687	195.257	221.709
Less	DEPRECIATION/ AMORTISATION (F)	84.948	95.109	107.877
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	65.739	100.148	113.832
Less	TAX (I)	4.192	(9.205)	(79.987)
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	61.547	109.353	193.819
	Earnings / (Loss) Per Share (Rs.)	29.82	52.97	93.89

Expected Sales (2014-2015): Rs. 3850.000 Million (Due to Market Fluctuation)

The above information has been parted by Mr. Sudhir Agarwal (Chartered Accountant)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.80	2.92	5.12
Operating Profit Margin (PBIDT/Sales)	(%)	5.47	6.60	7.64
Return on Total Assets (PBT/Total Assets}	(%)	2.47	4.03	4.56
Return on Investment (ROI) (PBT/Networth)		0.03	0.05	0.06
Debt Equity Ratio (Total Debt /Networth)		0.33	0.30	0.39
Current Ratio (Current Asset/Current Liability)		2.06	2.14	1.67

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	20.643	20.643	20.643
Reserves & Surplus	1873.867	1983.221	2044.768
Net worth	1894.510	2003.864	2065.411
long-term borrowings	3.098	3.233	0.620
Short term borrowings	742.797	592.019	681.556
Total borrowings	745.895	595.252	682.176
Debt/Equity ratio	0.394	0.297	0.330

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	3789.055	3740.928	3425.078
		(1.270)	(8.443)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	3789.055	3740.928	3425.078
Profit	193.819	109.353	61.547
	5.12%	2.92%	1.80%

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	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

LITIGATION DETAILS:

CULCUTTA HIGH COURT

CASE STATUS INFORMATION SYSTEM

Case Status : -

Status of COMPANY PETITIONS (CP) 384 OF 2007

IN THE MATTER OF SINGHAL ENTERPRISES PVT Vs. -AND-

SINGHAL ENTERPRISES (JHARSUGUDA) P

Pet’s Adv. : KHAITAN AND COMPANY

Res’s Adv. :

Court No. : 16 Last Listed On : Monday, January 17, 2011

Category : NO CATEGORY MENTIONED

CONNECTED APPLICATION (S) No Connected Application.

CONNECTED MATTER (S) No Connected Cases.

Case Updated on: Monday, January 17, 2011

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10286353	20/04/2011	2,000,000.00	HDFC BANK LIMITED	SANAPATI BAPAT MARG, LOWER PAREL, MUMBAI - 400013, Maharashtra, INDIA	B12766366
2	10290785	20/04/2011	2,000,000.00	HDFC BANK LIMITED	SANAPATI BAPAT MARG, LOWER PAREL, MUMBAI - 400013, Maharashtra, INDIA	B14482988
3	10246044	22/09/2010	1,190,000.00	TATA CAPITAL LIMITED	ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI - 400001, Maharashtra, INDIA	A97137061
4	10161604	27/04/2009	1,600,000.00	HDFC BANK LIMITED	SANAPATI BAPAT MARG, LOWER PAREL, MUMBAI - 400013, Maharashtra, INDIA	A62343561
5	10161680	20/04/2009	1,500,000.00	HDFC BANK LIMITED	SANAPATI BAPAT MARG, LOWER PAREL, MUMBAI - 400013, Maharashtra, INDIA	A62636006
6	10020086	20/06/2008 *	930,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, 24, PARK STREET, KOLKATA - 700016 West Bengal, INDIA	A43221159
7	80012659	19/05/2009 *	930,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, 24, PARK STREET, KOLKATA - 700016 West Bengal, INDIA	A62596408
8	80012656	11/03/2008 *	930,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, 24, PARK STREET, KOLKATA - 700016 West Bengal, INDIA	A35406123
9	90248934	28/09/2005	150,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, 24; PARK STREET, KOLKATA - 700016, West Bengal, INDIA	-
10	90247543	20/05/2005	2,080,000.00	HDFC BANK HOUSE	SANAPATI BAPAT MARG, LOWER PAREL, MUMBAI - 400013, Maharashtra, INDIA	-

* Date of charge modification

FIXED ASSETS:

· Land and land development

· Building

· Plant and machinery

· Factory shed

· Electric installation

· Motor car and scooter

· Furniture and fixtures

· Office eqiupments

· Computers

· Pay loader

· Weigh bridge

· Pollution control equipment

CMT REPORT (Corruption, Money Laundering AND 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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.16
UK Pound	1	Rs.92.73
Euro	1	Rs.68.23

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	SUB
Report Prepared by :	MTN

SCORE AND RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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 AND 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.