MIRA INFORM REPORT

Report No. :	355432
Report Date :	19.12.2015

IDENTIFICATION DETAILS

Name :	UPBEAT TRADING PRIVATE LIMITED
Registered Office :	61, 6th Floor , Plot-99, Gokul, Walkeshwar Road, Malabar Hill, Mumbai-400006, Maharashtra
Tel. No.:	91-22-23522463
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	24.02.1994
Com. Reg. No.:	11-076782
Capital Investment / Paid-up Capital :	Rs. 12.500 Million
CIN No.: [Company Identification No.]	U51900MH1994PTC076782
IEC No.:	Not Applicable (As claimed by company management that company does not export and import)
TAN No.: [Tax Deduction & Collection Account No.]	MUMU01943E
PAN No.: [Permanent Account No.]	AAACU4125B
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Commodities (Aluminium and Steel) (Confirmed by management)
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was incorporated in the year 1994 and it is having moderate track record. The company has recorded other income of Rs. 4,620 million as compared to its previous year record of Rs.181,246 Million and net loss of Rs.313 from its previous year profit Rs.20,124 Million. The rating reflects company’s moderate financial profile, modest net worth base along with zero gearing. However, trade relations seem to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. Note : Provisional financials dated from 1^st April, 2015 to 30^th November, 2015 has been attached for your mere reference. It has not been stamped and signed by the auditors. As claimed by Mr. Harakhachand Shah (Director) that, the main activity of the company was into investment but currently they are dealing in trading of commodities i.e. Aluminium and Steel.

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Harakhchand Nagindas Shah
Designation :	Director
Contact No.:	91-22-23522462
Date :	18.12.2015

LOCATIONS

Registered Office :	61, 6th Floor , Plot-99, Gokul, Walkeshwar Road, Malabar Hill, Mumbai-400006, Maharashtra, India
Tel. No.:	91-22-23522463
Fax No.:	91-22-23522462
E-Mail :	cs.satyajitmishra@gmail.com info@pankaj.co.in
Area :	3000 sq. ft.
Location :	Owned
Locality :	Commercial + Residential
Warehouse :	Bhiwandi, Mumbai Central Stock Yard, Bahwandi Wada, Bhiwandi, Mumbai, Maharashtra, India
Location :	Rented
Locality :	Commercial
Operational Office :	318/319 A C Market, Tardeo, Mumbai-400034, Maharashtra, India
Area :	300 sq. ft.
Location :	Rented
Locality :	Commercial

DIRECTORS

As on 31.03.2015

Name :

Mr. Harakhchand Nagindas Shah

Designation :

Director

Address :

61 Gokul, 99 Walkeshwar Road, Mumbai-400006, Maharashtra, India

Qualification :

B.Com

Date of Appointment :

24.02.1994

DIN No.:

00003369

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	U51900MH1994PTC076780	VOLITION TRADING PRIVATE LIMITED	Director	24/02/1994	24/02/1994	-	Active	NO
2	U51900MH1994PTC076782	UPBEAT TRADING PRIVATE LIMITED	Director	24/02/1994	24/02/1994	-	Active	NO
3	U27100GJ1994PLC021710	MASCOT PUMP LIMITED	Director	31/03/1994	31/03/1994	15/06/2009	Active	NO
4	U27100GJ1997PLC031852	PEL INDUSTRIES LIMITED	Director	05/04/2012	22/08/2003	-	Active	NO

Name :

Mr. Hitesh Harakchand Shah

Designation :

Director

Address :

504, Heera Panna Appartment, B/H Alkapuri Arcade, R.C. Dutt Road, Vadodara - 390007, Gujarat, India

Date of Birth/Age :

27.07.1968

Qualification :

B.Com

Date of Appointment :

05.04.2006

DIN No.:

00003547

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	U27100GJ1997PLC031852	PEL INDUSTRIES LIMITED	Director	06/01/2004	06/01/2004	15/11/2013	Active	NO
2	U51900MH1994PTC076782	UPBEAT TRADING PRIVATE LIMITED	Director	05/04/2006	05/04/2006	-	Active	NO
3	U27105MH2006PTC269616	PANKAJ METAL CENTRE PRIVATE LIMITED	Director	01/12/2006	01/12/2006	-	Active	NO
4	U27104MH2006PTC269631	ALUCAST ENGINEERING PRIVATE LIMITED	Director	07/12/2006	07/12/2006	-	Active	NO
5	U27109MH2006PTC269630	EUROPAN METALS PRIVATE LIMITED	Director	12/12/2006	12/12/2006	-	Active	NO
6	U27101GJ2006PTC049594	ACE METALS PRIVATE LIMITED	Director	18/12/2006	18/12/2006	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Harakhchand Nagindas Shah	1189987
Hitesh Harakchand Shah	60000
Ankit Deepak Mepani	1
Deepak Kirtilal Mepani	1
Girish L. Shah	1
Jigna H. Gada	1
Manohar Metal and Alloys, India	1
Meena S. Gupta	1
Mita Ketan Gosar	1
Nayana S. Mepani	1
Pinkesh Kadakia	1
Shantilal C. Sheth	1
Surendrakumar Gupta	1
Unnati Financial Corporation, India	1
Pankaj Investment	1
Total	1250000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Commodities (Aluminium and Steel) (Confirmed by management)
Products :	Aluminium Steel
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash / L/C / Credit (30/60 Days)
Purchasing :	Cash / L/C / Credit (30/60 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Pankaj Metal Central

Name of the Person :

Mr. H.N. Shah (Director)

Contact No.:

91-22-23529324

Since How Long Known :

10 Years

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Good	Good	Good

Remark:

They gave us positive response about subject company they are satisfied with their payment behavior and market goodwill.

Customers :

Reference :

EMCO Limited

Name of the Person :

Mr. Bal Mukund (Accounts Department)

Contact No.:

91-7738687730

Since How Long Known :

10 Years

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Good	Good	Good

Remark:

They gave us positive response about subject company. They are satisfied with their product quality and delivery behavior.

No. of Employees :

15 (Approximately)

Bankers :

Bank Name	Bank of Baroda
Branch	Tardeo Road Branch, Everest, Tardeo, Mumbai-400034, Maharashtra, India
Person Name (With Designation)	Mrs. Kanchan (Branch Manager)
Contact Number	91-22-23522125 (Continuously Ringing)
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Auditors :
Name :	R.J. Kothari and Associates Chartered Accountants
Address :	35, Kesar Building, 201, Princess Street, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-22060566
Fax No.:	91-22-22065020
PAN N Income-tax PAN of auditor or auditor's firm :	AGBPK9803E
Memberships :	--
Collaborators :	--
Associates/Subsidiaries (Confirmed by the management) :	· Volition Trading Private Limited Address : 61, 6^th Floor, Plot No.99, Gokul Walkeshwar Road, Malbarhill, Mumbai-400006, Maharashtra, India · Pankaj Metals · European Metals Private Limited · ACE Metals Private Limited

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : Rs.12.500 Million

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,250,000	Equity Shares	Rs.10/- each	Rs. 12.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,250,000	Equity Shares	Rs.10/- each	Rs. 12.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	12.500	12.500	12.500
(b) Reserves & Surplus	16.258	16.259	16.239
(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)	28.758	28.759	28.739
(3) Non-Current Liabilities
(a) loans (liability)	38.442	0.000	0.000
Total Non-current Liabilities (3)	38.442	0.000	0.000
(4) Current Liabilities
(a) Short term Current Liabilities	0.557	40.014	48.376
(b) Short-term provisions	0.000	0.000	0.000
(c) Deferred Tax Lability	0.000	0.000	0.000
Total Current Liabilities (4)	0.557	40.014	48.376
TOTAL	67.757	68.773	77.115
II. ASSETS
(1) Non-current assets
(a) Fixed Assets	0.000	0.000	0.000
(b) Non-current Investments	12.150	68.460	76.795
(c) Deferred tax assets (net)	0.000	0.000	0.000
Total Non-Current Assets	12.150	68.460	76.795
(2) Current assets
(a) Inventories	0.000	0.000	0.000
(b) Trade receivables	0.000	0.000	0.000
(c) Cash and cash equivalents	0.367	0.007	0.011
(d) Other current assets	55.240	0.306	0.309
Total Current Assets	55.607	0.313	0.320
TOTAL	67.757	68.773	77.115

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.005	0.181	0.659
		TOTAL (A)	0.005	0.181	0.659
Less	EXPENSES
		Employees benefits expense	0.000	0.100	0.360
		Other expenses	0.000	0.050	0.249
		TOTAL (B)	0.000	0.150	0.609
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)		0.005	0.031	0.050
Less	FINANCIAL EXPENSES (D)		0.005	0.002	0.001
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.000	0.029	0.049
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.000	0.029	0.049
Less	TAX (H)		0.000	0.009	0.015
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		0.000	0.020	0.034
	Earnings / (Loss) Per Share (Rs.)		(0.0003) [PAT In Rs. (313)]	0.02	0.04

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.00	0.00	0.00
Operating Profit Margin (PBIDT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00	9.39	15.31
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00
Debt Equity Ratio (Total Debt /Networth)		1.34	0.00	0.00
Current Ratio (Current Asset/Current Liability)		99.83	0.01	0.01

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	12.500	12.500	12.500
Reserves & Surplus	16.239	16.259	16.258
Net worth	28.739	28.759	28.758
long-term borrowings	0.000	0.000	38.442
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	38.442
Debt/Equity ratio	0.000	0.000	1.337

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of establishment	Yes
2]	Constitution of the entity Incorporation details	Yes
3]	Locality of the entity	Yes
4]	Premises details	Yes
5]	Buyer visit details	--
6]	Contact numbers	Yes
7]	Name of the person contacted	Yes
8]	Designation of contact person	Yes
9]	Promoter’s background	Yes
10]	Date of Birth of Proprietor / Partners / Directors	Yes
11]	Pan Card No. of Proprietor / Partners	No
12]	Voter Id Card No. of Proprietor / Partners	No
13]	Type of business	Yes
14]	Line of Business	Yes
15]	Export/import details (if applicable)	No
16]	No. of employees	Yes
17]	Details of sister concerns	Yes
18]	Major suppliers	Yes
19]	Major customers	Yes
20]	Banking Details	Yes
21]	Banking facility details	Yes
22]	Conduct of the banking account	--
23]	Financials, if provided	Yes
24]	Capital in the business	Yes
25]	Last accounts filed at ROC, if applicable	Yes
26]	Turnover of firm for last three years	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	No
29]	Profitability for last three years	Yes
30]	Major shareholders, if available	Yes
31]	External Agency Rating, if available	No
32]	Litigations that the firm/promoter involved in	--
33]	Market information	--
34]	Payments terms	Yes
35]	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from Mani Bhavan, 1st Floor Jitendra Road, Malad (East), Mumbai-400097, Maharashtra, India to the present address w.e.f. 16.09.2011

INDEX OF CHARGES NO CHARGES EXIST FOR COMPANY

PROVISIONAL FINANCIAL

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		30.09.2015
SHAREHOLDERS FUNDS
1] Share Capital		12.500
2] Share Application Money		0.000
3] Reserves & Surplus		17.329
4] (Accumulated Losses)		0.000
NETWORTH		29.829
LOAN FUNDS
1] Secured Loans
2] Unsecured Loans
TOTAL BORROWING		38.442
DEFERRED TAX LIABILITIES		0.000
TOTAL		68.271
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		60.130
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	170.838
	Cash & Bank Balances	0.040
	Other Current Assets	0.306
	Loans & Advances	47.909
Total Current Assets		219.093
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	210.438
	Other Current Liabilities	0.501
	Provisions	(0.028)
	Duties and Taxes	0.041
Total Current Liabilities		210.952
Net Current Assets		8.141
MISCELLANEOUS EXPENSES		0.000
TOTAL		68.271

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.09.2015
	SALES
		Income	737.913
		Other Income	0.000
		TOTAL	737.913
Less	EXPENSES
		Cost of Sales	736.180
		Direct Expenses	0.020
		Indirect Expenses	0.275
		TOTAL	736.475
	NET PROFIT		1.438

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.67.04
UK Pound	1	Rs.101.67
Euro	1	Rs.73.93

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAS
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		26

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.