MIRA INFORM REPORT

Report No. :	309984
Report Date :	26.02.2015

IDENTIFICATION DETAILS

Name :	BUNTY OVERSEAS PRIVATE LIMITED

Registered Office :	4, Fairlie Place, HMP House, Mezannine Floor, Room No.M-14, Kolkata – 700 001, West Bengal

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	15.03.2010

Com. Reg. No.:	21-143625

Capital Investment / Paid-up Capital :	Rs.5.481 Million

CIN No.: [Company Identification No.]	U74120WB2010PTC143625

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	CALB12098C

PAN No.: [Permanent Account No.]	AAEVB0293R

Legal Form :	Private Limited Liability Company

Line of Business :	Trader and Exporter of Engineering Goods.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 73000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. Trade relations are reported as 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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

EXTERNAL AGENCY RATING

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 :	4, Fairlie Place, HMP House, Mezannine Floor, Room No.M-14, Kolkata – 700 001, West Bengal, India
Tel. No.:	91-33-40056908
Mobile No.:	91-9830024747 (Mr. Bunty Agarwal)
Fax No.:	Not Available
E-Mail :	bunty.agl@gmail.com pkkajaria@gmail.com
Location :	Owned

DIRECTORS

As on 30.09.2014

Name :

Mr. Bunty Mohan Lal Agarwal

Designation :

Director

Address :

18A, Park Street, Stephen Court, L1, 6^th Floor, Flat No.6(P), Kolkata – 700 071, West Bengal, India

Date of Birth/Age :

26.12.1981

Date of Appointment :

15.03.2010

DIN No.:

02978292

Name :

Ms. Ritika Agarwal

Designation :

Director

Address :

18A, Park Street, Stephen Court, L1, 6^th Floor, Flat No.6(P), Kolkata – 700 071, West Bengal, India

Date of Birth/Age :

07.03.1995

Date of Appointment :

15.03.2010

DIN No.:

02971947

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	U74120WB2010PTC143625	BUNTY OVERSEAS PRIVATE LIMITED	Director	15/03/2010	15/03/2010	-	Active	NO
2	U74900WB2010PTC143637	KRISHAA TRADEX PRIVATE LIMITED	Director	15/03/2010	15/03/2010	-	Active	NO
3	U51909WB2005PTC101000	SIPHON MARKETING PRIVATE LIMITED	Director	15/04/2010	15/04/2010	-	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders		No. of Shares
Siphon Marketing Private Limited, India		162500
Bunty Mohan Lal Agarwal		325000
Ritika Agarwal		5000
Soni Lalit Tejwani		55555

Total		548055

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	29.65
Directors or relatives of Directors	70.35
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Exporter of Engineering Goods.

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

GENERAL INFORMATION

Suppliers (AS ON 31.03.2013) :

ABC Enterprise
Adnan Brothers
Advance Engineering Corporation
Allied ICD Services Limited
Arpee Metaliks Private Limited
Asha Road Carriers Limited
Calcox Syndicate Private Limited
Calcutta Asbestos and Belting Company
Calcutta Shipping Bureau
Concast Ispat Limited
East Coast Enterprises Private Limited
G A Daniel Limited
Jai Hanuman Trading Company
Jain Enterprises
Kalyaneswari Metals Private Limited
Lakhi Steel and Rolling Mills Limited
Mill Store Trading Company
M.R. Trading Company
P.P. Rolling Mills Mfg. Company Private Limited
Royal Mechanical Company
Satabdi Monolithics Ind Private Limited
Shree Salasar Enterprises
Shree Sanyeiji Steel and Power Limited
Vikash Metal and Power Limited
Vishwarupa Tubes Private Limited
Al Sai Oilfield Supplier and Services
Watania Steel Factory Corporation Limited

Customers (As on 31.03.2013) :

Aden Steel Company
Amreli Steels Limited
Anwar Ispat Limited
Arab Iron and Steel Corporation
Balaji Alloys GH Limited
Bangladesh Steel Re-rolling Mill Limited
GPH Ispat Limited
BSRM Iron and Steel Company Limited
Compass Occan Logistics
Metanex and Allied Product Mfg Limited
Kohinoor Paper Newsprint Private Limited
Rahim Steel Mills Company Private Limited
Kohinnor Steel Private Limited
Shree Bhisku Electricals
Shafiul Alam Steel Re-rolling Mills
Tulsi Switchgear

No. of Employees :

Not Divulged

Bankers :

UCO Bank, Mid Corporate Branch (IBB), 4 and 4/1, Red Cross Place, Kolkata – 700 001, West Bengal, India
ICICI Bank Limited, Chowringee
ICIC Bank Limited, R.N. Mukherjee Road
The Hongkong and Sanghai Banking Corporation Limited
United Bank of India
Standard Chartered Bank

Facilities :

Secured Loans	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
Loans repayable on demand
From Banks
UCO Bank, IBB A/c No.526	0.000	0.897
UCO Bank Packing Credit A/c No.106	0.000	14.812
UCO Bank Foreign Bill Purchase A/c No.700	0.000	10.370
Standard Chartered Bank Current A/c	0.000	1.107
Total	0.000	27.186

Auditors :
Name :	P. Kajaria and Company Chartered Accountants
Address :	74/2, A.J.C. Bose Road, Tirupati Plaza, 5^th Floor, Suite - 5E, Kolkata – 700 016, West Bengal, India
Tel. No.:	91-33-30222911
Mobile No.:	91-9339824996
E-Mail :	pkkajaria@gmail.com
PAN No.:	AAPFP0076J

Memberships :	Not Divulged

Collaborators :	Not Divulged

Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

550000	Equity Shares	Rs.10/- each	Rs. 5.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

548055	Equity Shares	Rs.10/- each	Rs. 5.481 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

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	5.481	5.481	4.925
(b) Reserves & Surplus	20.228	19.018	15.885
(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)	25.709	24.499	20.810

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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)	0.000	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	36.302	31.613	2.034
(b) Trade payables	43.152	56.171	23.342
(c) Other current liabilities	2.854	1.406	0.758
(d) Short-term provisions	1.103	0.900	0.350
Advance received from customer	1.416	1.215	3.103
Total Current Liabilities (4)	84.827	91.305	29.587

TOTAL	110.536	115.804	50.397

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.912	1.053	0.259
(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)	0.030	0.018	0.007
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.942	1.071	0.266

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	6.541	0.000	0.600
(c) Trade receivables	69.369	94.841	21.551
(d) Cash and cash equivalents	6.409	4.838	8.409
(e) Short-term loans and advances	27.253	15.010	19.505
(f) Other current assets	0.022	0.044	0.066
Total Current Assets	109.594	114.733	50.131

TOTAL	110.536	115.804	50.397

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
SALES	NA	NA	NA

EXPENSES	NA	NA	NA

PROFIT/ (LOSS) BEFORE TAX	1.751	1.728	NA

TAX	0.541	0.539	NA

PROFIT/ (LOSS) AFTER TAX	1.210	1.189	0.668

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	2.449	1.260	0.592

Balance Carried to the B/S	NA	2.449	1.260

Earnings / (Loss) Per Share (Rs.)	2.21	2.17	1.36

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	1.58	1.49	0.00

Return on Investment (ROI) (PBT/Networth)		0.07	0.07	0.00

Debt Equity Ratio (Total Debt /Networth)		1.41	1.29	0.10

Current Ratio (Current Asset/Current Liability)		1.29	1.26	1.69

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	4.925	5.481	5.481
Reserves & Surplus	15.885	19.018	20.228
Net worth	20.810	24.499	25.709

long-term borrowings	0.000	0.000	0.000
Short term borrowings	2.034	31.613	36.302
Total borrowings	2.034	31.613	36.302
Debt/Equity ratio	0.098	1.290	1.412

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 three years	No
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	No
17]	Major suppliers	Yes
18]	Major customers	Yes
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	No
34]	External Agency Rating, if available	No

Note:

The registered office of the company has been shifted from 18A, Park Street, Lift No.1, Flat 6-P, Kolkata – 700 071, West Bengal to the present address w.e.f. 19.03.2010.

UNSECURED LOANS

Particulars	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
SHORT TERM BORROWINGS
From Others
Ajay Kumar Maheswari	0.000	0.045
Jankidas Hanuman Bux	0.000	0.230
Kisan Kumar Maheswari	0.000	0.002
Siphon Marketing Private Limited	0.000	1.600
Ranbhumi Marketing Private Limited	0.000	2.550
Total	0.000	4.427

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10243041	20/06/2014 *	42,500,000.00	UCO Bank	INTERNATIONAL BANKING BRANCH, 2, INDIA EXCHANGE PLACE, 1ST FLOOR, KOLKATA, West Bengal - 700001, INDIA	C37092624

* Date of charge modification

FIXED ASSETS:

· Air Condition

· Computer

· Camera

· Car

· Fax Machine

· Mobile

· Printer

· Television and Refrigerator

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.62.04
UK Pound	1	Rs.96.02
Euro	1	Rs.70.43

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.

MIRA INFORM REPORT

Unit