MIRA INFORM REPORT

Report No. :	319576
Report Date :	30.04.2015

IDENTIFICATION DETAILS

Name :	AUROPOL INDIA PRIVATE LIMITED.
Registered Office :	67, Humayun Kabir Sarani, New Alipore, Block – G Kolkata West Bengal - 700053
Tel No. :	91-33-24989792
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.01.1999
Com. Reg. No.:	21-088726
Capital Investment / Paid-up Capital :	Rs. 6.405 Million
CIN No.: [Company Identification No.]	U25209WB1999PTC088726
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALA04654G
PAN No.: [Permanent Account No.]	AADCA1300P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Specialty Rubber Chemicals and Plastics Additives.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 150000
Status :	Satisfactory
Payment Behaviour :	Slow but 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. Trade relations are fair. Business is active. Payments are reported to be slow but 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 – 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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.

LOCATIONS

Registered Office :	67, Humayun Kabir Sarani, New Alipore, Block – G Kolkata West Bengal – 700053, India
Tel. No.:	91-33-24989792/97939794
Fax No.:	91-33-24989795
E-Mail :	marketing@auropolindia.com finance@auropolindia.com
Website :	www.auropolindia.com

DIRECTORS

As on 27.09.2014

Name :

Mr. Arbinda Sekhar Bhattacharya Bhattcharyya

Designation :

Managing Director

Address :

35 diamond Harbour Road, Uttarayan Alipur, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

22.02.1937

Date of Appointment :

29.01.1999

DIN No.:

00731585

Voter ID No.:

00731585

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	U25209WB1999PTC088726	AUROPOL INDIA PRIVATE LIMITED	Managing director	29/01/1999	29/01/1999	-	Active	NO
2	U24100WB2011PTC161160	AUROPOL SPECIALITIES PRIVATE LIMITED	Director	24/03/2011	24/03/2011	-	Active	NO

Name :

Mr. Biswanath Bhattacharyya

Designation :

Director

Address :

35 diamond Harbour Road, Uttarayan Alipur, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

03.03.1964

Date of Appointment :

29.01.1999

DIN No.:

00715519

Voter ID No.:

00715519

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	U25209WB1999PTC088726	AUROPOL INDIA PRIVATE LIMITED	Director	29/01/1999	29/01/1999	-	Active	NO
2	U91110WB1959NPL024279	FEDERATION OF SMALL & MEDIUM INDUSTRIES WEST BENGAL	Director	27/06/2000	27/06/2000	-	Active	NO
3	U24100WB2011PTC161160	AUROPOL SPECIALITIES PRIVATE LIMITED	Director	24/03/2011	24/03/2011	-	Active	NO
4	U74140WB1961SGC025037	THE WEST BENGAL SMALL INDUSTRIES DEVELOPMENT CORPN LIMITED	Director	14/11/2011	14/11/2011	-	Active	NO

Name :

Mandira Bhattacharyya

Designation :

Director

Address :

35 diamond Harbour Road, Uttarayan Alipur, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

25.03.1965

Date of Appointment :

29.01.2002

DIN No.:

00715956

Voter ID No.:

00715956

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	U25209WB1999PTC088726	AUROPOL INDIA PRIVATE LIMITED	Director	19/01/2002	19/01/2002	-	Active	NO
2	U24100WB2011PTC161160	AUROPOL SPECIALITIES PRIVATE LIMITED	Director	24/03/2011	24/03/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2014

Names of Shareholders	No. of Shares	%age
S. A. Bhattcharyya	5480	10.14
Biswanath Bhattacharyya	31110	57.56
Mandira Bhattacharyya	16460	30.45
Priyanka Bhattacharyya	1000	1.85
Total	54050	100.00

Preference Shares	No. of Shares
Biswanath Bhattacharyya	10000
Total	10000

As on 27.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.0
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Specialty Rubber Chemicals and Plastics Additives.
Products :	Dry Bonding Agent Tackifying Agent Dispersing Processing Additives Homogenizing Agent Physical Peptize
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

• Canara Bank, 21, CAMC Street, 3^rd Floor, Kolkata – 700016, West Bengal, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Vehicle loan (Secured by hypothecation of Car)	0.027	0.188
SHORT TERM BORROWING
Loans repayable on demand (Working Capital facilities are secured by hypothecation of Stock, Book debts and other Current assets of the Company)	43.877	38.832
Total	43.904	39.020

Auditors :
Name :	Ramavatar and Associates Chartered Accountants
Address :	23/1a Gariahat Road(West), Kolkata – 700068, West Bengal, India
Tel. No.:	91-33-32009648
Mobile No.:	91-9830642363
PAN No.:	AEVPJ6885R
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
75,000	Equity Shares	Rs.100/- each	Rs. 7.500 Million
20,000	Preference Shares	Rs.100/- each	Rs. 2.000 Million
	Total		Rs. 9.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
54,050	Equity Shares	Rs.100/- each	Rs. 5.405 Million
10,000	Preference Shares	Rs.100/- each	Rs. 1.000 Million
	Total		Rs. 6.405 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	6.405	6.405	6.405
(b) Reserves & Surplus	44.276	38.481	31.071
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	2.000	2.000	0.000
Total Shareholders’ Funds (1) + (2)	52.681	46.886	37.476
(3) Non-Current Liabilities
(a) long-term borrowings	1.812	2.862	0.732
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1.812	2.862	0.732
(4) Current Liabilities
(a) Short term borrowings	44.577	39.832	30.049
(b) Trade payables	5.996	5.931	7.858
(c) Other current liabilities	1.246	0.811	0.427
(d) Short-term provisions	8.434	7.517	9.912
Total Current Liabilities (4)	60.253	54.091	48.246
TOTAL	114.746	103.839	86.454
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	21.180	18.632	16.752
(ii) Intangible Assets	0.000	0.000	0.683
(iii) Capital work-in-progress	0.293	0.293	0.293
(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	11.040	9.492	12.349
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	32.513	28.417	30.077
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	31.413	26.342	16.314
(c) Trade receivables	41.690	41.667	24.939
(d) Cash and cash equivalents	5.168	3.290	7.027
(e) Short-term loans and advances	3.957	4.111	8.078
(f) Other current assets	0.005	0.012	0.019
Total Current Assets	82.233	75.422	56.377
TOTAL	114.746	103.839	86.454

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES	NA	NA	NA
Less	EXPENSES
	TOTAL	NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX	8.446	7.410	NA

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	0.88	0.91	0.82
Current Ratio (Current Asset/Current Liability)	1.36	1.39	1.17

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	6.405	6.405	6.405
Reserves & Surplus	31.071	38.481	44.276
Net worth	37.476	44.886	50.681
long-term borrowings	0.732	2.862	1.812
Short term borrowings	30.049	39.832	44.577
Total borrowings	30.781	42.694	46.389
Debt/Equity ratio	0.821	0.951	0.915

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	No
12]	Profitability for last two 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	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	Yes
34]	External Agency Rating, if available	No

Note:

Registered office of the company has been shifted from 40 A, Chittarnjan Avenue, Kolkata – 700012,West Bengal, India to the present address w.e.f.26.10.2009

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loan from Bank	1.785	2.674
SHORT TERM BORROWING
Loan from others	0.700	1.000
Total	2.485	3.674

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90247643	13/02/2013 *	38,500,000.00	CANARA BANK	S.M.E.BRANCH, 21, CAMAC STREET, 3RD FLOOR, KOLKAT  A, West Bengal - 700016, INDIA	B70163530

* Date of charge modification

FIXED ASSETS

• Electrical Fittings
• Electronically Equipments
• Factory Building
• Factory Office Building
• Freehold Land
• Furniture and Fittings
• Office Premises
• Plant and Machinery
• Office Equipments
• Computers

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.63.20
UK Pound	1	Rs.97.00
Euro	1	Rs.69.34

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	ART

SCORE & 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	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.