MIRA INFORM REPORT

Report No. :	309484
Report Date :	24.02.2015

IDENTIFICATION DETAILS

Name :	MEHADIA SALES TRADE CORPORATION PRIVATE LIMITED
Registered Office :	464, Golchha Marg, Sadar Bazar, Nagpur – 440 001, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.06.2012
Com. Reg. No.:	11-232763
Capital Investment / Paid-up Capital :	Rs. 46.202 Millions
CIN No.: [Company Identification No.]	U51101MH2012PTC232763
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in Manufacturing, Trading, Producing, Acquiring, Importing and Exporting Iron and Steel and other Ferrous and Non Ferrous products.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has taken huge external borrowing, which acts as threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some caution. Profit and Loss account for 2014 is not available.

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.

INFORMATION DECLINED BY

Name :	Mr. Anish Mehta
Designation :	Accounts Department
Contact No.:	91-712-2424854
Date :	23.02.2015

LOCATIONS

Registered Office :	464, Golchha Marg, Sadar Bazar, Nagpur – 440 001, Maharashtra, India
Tel. No.:	91-712-2556990 / 2424854
Mobile No.:	91-9371313999 (Mr. Anish Mehta)
Fax No.:	91-712-2567253
E-Mail :	mstcngp@yahoo.com gautam.tiwari11@gmail.com
Warehousing and Packaging Unit :	Kapsi, Bhandara Road, Nagpur, Maharashtra, India

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Pankaj Nandlal Agrawal
Designation :	Managing Director
Address :	Golchha Marg, Sadar Bazar, Sadar, Nagpur – 440 001, Maharashtra, India
Date of Birth/Age :	03.08.1976
Qualification :	Graduate
Date of Appointment :	01.10.2013
PAN No.:	ABEPA4572G
DIN No.:	02095776
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	U01403MH2008PTC188072	B. Y. AGRO & INFRA PRIVATE LIMITED.	Managing director	10/11/2008	10/11/2008	24/05/2011	Active	NO
2	U60231MH2012PLC228491	NANDSON LOGISTICS LIMITED	Managing director	07/07/2012	20/03/2012	-	Active	NO
3	U51101MH2012PTC232763	MEHADIA SALES TRADE CORPORATION PRIVATE LIMITED	Managing director	01/10/2013	29/06/2012	-	Active	NO

Name :	Mr. Vinay Ramsharandas Agrawal
Designation :	Director
Address :	Yogiraj Co-Operative Housing Society, Amrawati Road, Nagpur – 440 010, Maharashtra, India
Date of Birth/Age :	07.07.1964
Date of Appointment :	29.06.2012
DIN No.:	00083434
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	U45200MH2003PTC142822	KAPISH BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	26/04/2004	26/04/2004	-	Active	NO
2	U70100MH2005PTC152101	SIDHANT REALTORS PRIVATE LIMITED	Director	22/03/2005	22/03/2005	-	Active	NO
3	U45201MH2006PTC162637	NAGPUR PROPERTY SOLUTIONS PRIVATE LIMITED	Director	14/06/2006	14/06/2006	-	Active	NO
4	U45400MH2007PTC170103	RPA SONS INFRASTRUCTURES PRIVATE LIMITED	Director	19/04/2007	19/04/2007	-	Active	NO
5	U51101MH2012PTC232763	MEHADIA SALES TRADE CORPORATION PRIVATE LIMITED	Director	29/06/2012	29/06/2012	02/12/2014	Active	NO

Name :	Mr. Balmukund Lalchand Keyal
Designation :	Director
Address :	Flat No 101, Vyankatesh 2, Salasar Vihar Colony, New Deshpande Layout, Ring Road, Nagpur-440008, Maharashtra, India
Date of Birth/Age :	24.04.1972
Date of Appointment :	12.08.2014
DIN No.:	02095788
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	U51101MH2012PTC232763	MEHADIA SALES TRADE CORPORATION PRIVATE LIMITED	Director	30/09/2014	12/08/2014	Active	NO

.

KEY EXECUTIVES

Name :	Mr. Anish Mehta
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Pankaj Nandlal Agrawal	4464834
Sheetal Pankaj Agrawal	100
Premlata Nandlal Mehadia	100
Dhiraj Nandlal Mehadia	100
Ranu Anish Mehta	100
Balmukund Keyal	100
Bhavana Balmukund Keyal	100
Deepa H Agarwal	100
Mukul Agrawal	50000
Pawankumar Omprakash Agrawal	100
Lokesh Jain	100
Kartik Jain	100
Saroj Santosh Agrawal	1
Jagdish Sadankumar Agrawal	49500
Sunita Jagdish Agrawal	49500
Rajesh Keyal	1
Shobha Agrawal	1
Sitadevi Agrawal	1
Nita Agrawal	1
Pankaj Agarwal	100
Balmukund Keyal	100
Jagdish Sadankumar Agrawal	100
Nandson Logistics Limited, India	100
Vinay Ramsharandas Agrawal	5000
Rukminidevi Agrawal	1
Dinesh Jogani	1
Kedarnath Agrawal	1
Nikhil Bajoria	1
Purushotttam Agrawal	1
Rachana Subhash Agrawal	1
R S Garg and Sons	1
Shyam Ompakaksh Agrawal	1
Shyam Ompakaksh Agrawal	1
Subhash Puranchand Shyam Ompakaksh Agrawal	1
Sushama Agrawal	1
Vicky Purushottam Agrawal	1
Total	4620251

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	96.76
Other top fifty shareholders	3.24
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in Manufacturing, Trading, Producing, Acquiring, Importing and Exporting Iron and Steel and other Ferrous and Non Ferrous products.
Products :	Not Available
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

--

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

--

No. of Employees :

Information declined by the management.

Bankers :

• Tirupati Urban Co-operative Bank Limited, 172, Shraddhanand Peth, South Ambazari Road, Nagpur – 440 010, Maharashtra, India
• Oriental Bank of Commerce, National Insurance Building, Kingsway Branch, Nagpur – 440 001, Maharashtra, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Short-term borrowings
Loans repayable on demand from banks	149.268	35.210
Total	149.268	35.210

Banking Relations :
Auditors :
Name :	Dhannawat Agarwal and Company Chartered Accountants
Address :	301, 3^rd Floor Daya Chambers, Ajni Chowk Wardha Road, Nagpur – 440 015, Maharashtra, India
Tel. No.:	91-712-2252280
Mobile No.:	91-7588095895/ 9422146145
E-Mail :	harshad_ca@yahoo.com
PAN No.:	AABFD8821H
Memberships :	--
Collaborators :	--
Related Parties :	Satguru Enterprises Steel Sales Trading Company Mehadia Sales Trade Corporation N. D. Mehadia

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4620251	Equity Shares	Rs.10/- each	Rs. 46.202 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	46.202	0.550
(b) Reserves & Surplus	8.500	0.294
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	7.858
Total Shareholders’ Funds (1) + (2)	54.702	8.702
(3) Non-Current Liabilities
(a) long-term borrowings	122.924	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	122.924	0.000
(4) Current Liabilities
(a) Short term borrowings	149.268	36.243
(b) Trade payables	444.470	80.650
(c) Other current liabilities	0.213	0.025
(d) Short-term provisions	3.720	0.132
Total Current Liabilities (4)	597.671	117.050
TOTAL	775.297	125.752
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.499	1.135
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	1.162	1.257
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	5.661	2.392
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	48.018	0.000
(c) Trade receivables	654.686	107.112
(d) Cash and cash equivalents	63.886	1.218
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	3.046	15.030
Total Current Assets	769.636	123.360
TOTAL	775.297	125.752

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013
	SALES
	Income	NA
	Other Income	NA
	TOTAL	NA
Less	EXPENSES
	Cost of Material Consumed	NA
	Manufacturing Expenses
	Marketing and Service Expenses
	Purchases of Stock-in-Trade
	TOTAL	NA
	PROFIT/ (LOSS) BEFORE TAX	0.426
Less	TAX	0.132
	PROFIT/ (LOSS) AFTER TAX	0.294
	Earnings / (Loss) Per Share (Rs.)	5.35

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Return on Total Assets (PBT/Total Assets}	(%)	NA	0.34
Return on Investment (ROI) (PBT/Networth)		NA	0.05
Debt Equity Ratio (Total Debt /Networth)		4.98	4.16
Current Ratio (Current Asset/Current Liability)		1.29	1.05

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(INR in Mlns.)	(INR in Mlns.)
Share Capital	0.550	46.202
Reserves & Surplus	0.294	8.500
Net worth	0.844	54.702
long-term borrowings	0.000	122.924
Short term borrowings	36.243	149.268
Total borrowings	36.243	272.192
Debt/Equity ratio	42.942	4.976

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one years	No
12]	Profitability for last one 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	Yes
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

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Loans and advances from directors	9.796	0.000
Loans and advances from others	113.128	0.000
Short-term borrowings
Loans and advances from related parties	0.000	1.033
Total	122.924	1.033

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10469711	14/12/2013	350,000,000.00	ORIENTAL BANK OF COMMERCE	NATIONAL INSURANCE BLD,, KINGSWAY BRANCH, NAGPUR,  MAHARASHTRA - 440001, INDIA	B93332146
2	10469708	03/03/2014 *	380,000,000.00	ORIENTAL BANK OF COMMERCE	NATIONAL INSURANCE BLD,, KINGSWAY BRANCH, NAGPUR,  MAHARASHTRA - 440001, INDIA	C06700819

* Date of charge modification

FIXED ASSETS

• Electrical Installation

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.62.18
UK Pound	1	Rs.95.70
Euro	1	Rs.70.75

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	KRN
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--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	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		27

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.