MIRA INFORM REPORT

Report Date :

01.01.2015

IDENTIFICATION DETAILS

Name :	CARBON RESOURCES PRIVATE LIMITED
Registered Office :	Saberwal House, 55B, Mirza Galib Street, 3^rd Floor, Kolkata – 700016, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.09.1991
Com. Reg. No.:	21-052947
Capital Investment / Paid-up Capital :	Rs. 21.339 Millions
CIN No.: [Company Identification No.]	U23109WB1991PTC052947
IEC No.:	Not Available
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 :	Manufacturer, Exporter and Importer of Carbon Electrode Paste.
No. of Employees :	500 (Approximately)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. As per registrar of companies the date of Balance Sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to financials are not available for any source. As per available financial record of 2013, the rating takes into consideration CRPL’s extensive experience of its promoters in the calcined petroleum coke industry supported by sound financial base and fair liquidity profile of the company. Trade relation are fair. Business is active. Payment terms 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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 = BB+
Rating Explanation	Inadequate credit quality and high credit risk
Date	March 29, 2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A4+
Rating Explanation	Minimal degree of safety and very high credit risk
Date	March 29, 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. Abhishek Jalan
Designation :	Director
Contact No.:	91-33-30122803
Date :	30.12.2014

LOCATIONS

Registered Office / Factory :	Saberwal House, 55B, Mirza Galib Street, 3^rd Floor, Kolkata – 700016, West Bengal, India
Tel. No.:	91-33-30122803 / 22107232
Fax No.:	91-33-30122812
E-Mail :	md@carbonresources.in sales@carbonresources.in crpl@vsnl.net
Website :	http://www.carbonresources.in
Location :	Owned
Locality :	Commercial
Branch Office :	Narayani Niwas, New Barganda, Giridin – 815301, Jharkhand, India
Tel. No.:	91-6532-250738 / 250116 / 250321
Fax No.:	91-6532-251129

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Abhinav Kumar Jalan

Designation :

Director

Address :

New Barganda, Giridih – 815301, Jaharkhand, India

Date of Birth/Age :

22.06.1982

Date of Appointment :

01.11.2004

DIN No. :

01038880

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	U23109WB1991PTC052947	CARBON RESOURCES PVT LTD	Director	01/11/2004	01/11/2004	-	Active	NO
2	U23101AS2009PTC009252	CHIRANG CARBON PRIVATE LIMITED	Director	18/09/2009	18/09/2009	-	Strike off	NO

Name :

Mr. Suresh Kumar Jalan

Designation :

Director

Address :

New Barganda, Giridih – 815301, Jaharkhand, India

Date of Birth/Age :

17.07.1955

Date of Appointment :

04.09.1991

DIN No. :

00611035

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	U23109WB1991PTC052947	CARBON RESOURCES PVT LTD	Director	04/09/1991	04/09/1991	-	Active	NO
2	U93090JH2007NPL013038	GIRIDIH GYMKHANA CLUB	Director	04/06/2007	04/06/2007	30/01/2013	Active	NO
3	U23101AS2009PTC009252	CHIRANG CARBON PRIVATE LIMITED	Director	18/09/2009	18/09/2009	-	Strike off	NO

Name :

Mrs. Renu Jalan

Designation :

Director

Address :

New Barganda, Giridih – 815301, Jaharkhand, India

Date of Birth/Age :

07.11.1965

Date of Appointment :

13.03.1997

DIN No. :

00612639

Name :

Mr. Abhishek Jalan

Designation :

Director

Address :

Narayani Niwas, Barganda, Giridih – 815301, Jaharkhand, India

Date of Birth/Age :

30.06.1984

Date of Appointment :

01.03.2010

DIN No. :

02983156

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Suresh Kumar Jalan	740300	32.13
Renu Jalan	733700	31.85
Abhishek Kumar Jalan	379900	16.49
Abhinav Kumar Jalan	450000	19.53
Total	2303900	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Carbon Electrode Paste.
Products :	Not Divulged
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Carbon Electrode Paste
Countries :	Oman Bangladesh
Imports :
Products :	Raw Material
Countries :	Egypt China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

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 :

500 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Giridih Bazar Branch, Whitty Bazar, Giridih - 815301, Jharkhand, 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

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Term Loans
From Banks	104.679	26.531
SHORT TERM BORROWINGS
Working Capital Loans from Banks	265.493	227.583
Total	370.172	254.114

Auditors :
Name :	Kedia Agarwal and Associates Chartered Accountants
Address :	Tah Complex, 1^st Floor, Gandhi Chowk, Giridih – 815301, Jharkhand, India
Tel. No.:	91-6532-222639
Mobile No.:	91-9431144160 / 9304105111
Fax No.:	91-6532-222639
E-Mail :	Sk_kaagrd@yahoo.co.in sanjaykaagrd@gmail.com
PAN No.:	AACFK6368H
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
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2303900	Equity Shares	Rs.10/- each	Rs. 23.039 Millions

As on 31.03.2013

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
2133900	Equity Shares	Rs.10/- each	Rs. 21.339 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	21.339	20.839	16.877
(b) Reserves & Surplus	181.917	177.536	151.418
(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)	203.256	198.375	168.295
(3) Non-Current Liabilities
(a) long-term borrowings	104.679	26.531	30.585
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	16.562	39.299	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	121.241	65.830	30.585
(4) Current Liabilities
(a) Short term borrowings	265.493	227.583	207.012
(b) Trade payables	4.977	5.958	26.162
(c) Other current liabilities	54.900	53.955	74.013
(d) Short-term provisions	0.688	2.696	19.796
Total Current Liabilities (4)	326.058	290.192	326.983
TOTAL	650.555	554.397	525.863
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	282.212	106.217	104.388
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.404	150.188	95.956
(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	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	282.616	256.405	200.344
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	74.791	51.639	54.439
(c) Trade receivables	160.310	142.006	147.188
(d) Cash and cash equivalents	19.724	18.500	38.974
(e) Short-term loans and advances	113.114	85.847	84.918
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	367.939	297.992	325.519
TOTAL	650.555	554.397	525.863

PROFIT & LOSS ACCOUNT

Particulars	31.03.2013	31.03.2012	31.03.2011
Revenue from Operation	NA	827.928	782.939
Profit/Loss for the year	1.281	10.270	42.016

Particulars	31.03.2014
Sales Turnover (Approximately)	1000.000

Expected Sales (2014-2015): Rs. 1000.000 Millions

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT / Sales)	(%)	NA	1.24	5.37
Debt Equity Ratio (Total Debt /Networth)		1.82	1.28	1.41
Current Ratio (Current Asset/Current Liability)		1.13	1.03	1.00

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	16.877	20.839	21.339
Reserves & Surplus	151.418	177.536	181.917
Net worth	168.295	198.375	203.256
long-term borrowings	30.585	26.531	104.679
Short term borrowings	207.012	227.583	265.493
Total borrowings	237.597	254.114	370.172
Debt/Equity ratio	1.412	1.281	1.821

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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	No
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

VIEW INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10509990	29/03/2014	1,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	C12019279
2	10467225	04/12/2013	2,600,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B92407915
3	10259098	14/12/2010	20,000,000.00	STATE BANK OF INDIA GIRIDIH BAZAR BRANCH	WHITTY BAZAR, GIRIDIH, JHARKHAND, GIRIDIH, Jharkhand - 815301, INDIA	B02953719
4	80038976	28/03/2014 *	417,500,000.00	State Bank of India	STATE BANK OF INDIA, WHITTY BAZAR, GIRIDIH, Jharkhand - 815301, INDIA	C02725646

* Date of charge modification

FIXED ASSETS

• Office Building
• Furniture and Fixture
• Plant and Machinery
• Typewriter
• Scooters
• Motor Cycles
• Fax machines
• Computer and software
• EPBX Machine
• Electrical Fittings
• Air Conditioners

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. 63.33
UK Pound	1	Rs. 98.58
Euro	1	Rs. 77.00

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAR
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION		0
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--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	YES
--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.