MIRA INFORM REPORT

Report No. :	325199
Report Date :	01.06.2015

IDENTIFICATION DETAILS

Name :	ACE METALS PRIVATE LIMITED
Registered Office :	301-302, "AADI", Near P. F. Office, Akota Stadium Road, Vadodara – 390020, Gujarat
Tel. No.:	91-22-23522462
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.12.2006
Com. Reg. No.:	04-049594
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U27101GJ2006PTC049594
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 :	Trader of Ferrous and Non Ferrous Metal
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though, the company was incorporated on 18.12.2006 it is yet to commence its commercial operations. Mr. Amit (Key Executive) provided only general information. As per available financial record of 2014, the company has recorded accumulated losses. However, business is active as per the status shown in the registrar of companies. Payment are reported to be unknown. The company can be considered for business dealings on safe and secured 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 – 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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Amit
Designation :	Key Executive
Contact No.:	91-22-23522462
Date :	30.05.2015

LOCATIONS

Registered Office :	301-302, "AADI", Near P. F. Office, Akota Stadium Road, Vadodara – 390020, Gujarat, India
Tel. No.:	91-265-2314436
Fax No.:	91-265-2351457
E-Mail :	acc.phd@pankaj.co.in info@pankaj.co.in
Website :	www.pankaj.co.in
Location :	Owned
Locality:	Industrial
Branch Office:	532, Arun Chamber, Next to AC Market, Tardeo, Mumbai – 400034, Maharashtra, India
Tel. No.:	91-22-23522462

DIRECTORS

AS ON 29.09.2014

Name :

Mr. Hitesh Harakchand Shah

Designation :

Director

Address :

504, Heera Panna Apartment, B/h Alkapuri Arcade, R C Dutt Road Alkapuri, Vadodara-390007, Gujarat, India

Date of Birth/Age :

27.07.1968

Date of Appointment :

18.12.2006

PAN No.:

AAGPS6421H

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	U27105GJ2006PTC049506	PANKAJ METAL CENTRE PRIVATE LIMITED.	Director	01-12-2006	01-12-2006	-	Active	NO
4	U27104GJ2006PTC049537	ALUCAST ENGINEERING PRIVATE LIMITED	Director	07-12-2006	07-12-2006	-	Active	NO
5	U27109GJ2006PTC049564	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

Name :

Mr. Jayesh Harakhchand Shah

Designation :

Director

Address :

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

Date of Birth/Age :

29.12.1965

Date of Appointment :

18.12.2006

PAN No.:

ACPPS8755H

DIN No.:

00003614

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	Managing director	05-04-2012	06-03-1997	-	Active	NO
2	U27105GJ2006PTC049506	PANKAJ METAL CENTRE PRIVATE LIMITED	Director	01-12-2006	01-12-2006	-	Active	NO
3	U27104GJ2006PTC049537	ALUCAST ENGINEERING PRIVATE LIMITED	Director	07-12-2006	07-12-2006	-	Active	NO
4	U27109GJ2006PTC049564	EUROPAN METALS PRIVATE LIMITED	Director	12-12-2006	12-12-2006	-	Active	NO
5	U27101GJ2006PTC049594	ACE METALS PRIVATE LIMITED.	Director	18-12-2006	18-12-2006	-	Active	NO

Name :

Mr. Hiren Harakchand Shah

Designation :

Director

Address :

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

Date of Birth/Age :

23.10.1970

Date of Appointment :

18.12.2006

DIN No.:

01506187

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	31-03-2005	31-03-2005	-	Active	NO
2	U27101GJ2006PTC049594	ACE METALS PRIVATE LIMITED	Director	18-12-2006	18-12-2006	-	Active	NO
3	U27100GJ1997PLC031852	PEL INDUSTRIES LIMITED	Director	29-09-2007	29-09-2007	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Amit
Designation :	Key Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2014

Names of Shareholders	No. of Shares	%age holding
Hitesh Harakchand Shah	5000	50.00
Jayesh Harakchand Shah	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Ferrous and Non Ferrous Metal
Products :	Ferrous and Non Ferrous Metal
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit (30,60,90 Days)
Purchasing :	Cash and Credit (30,60,90 Days)

PRODUCTION STATUS NOT AVAIALABLE

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 :	Not Divulged
Remark:	Not Divulged

Customers :

Retailers and End Users

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 :	Not Divulged
Remark:	Not Divulged

No. of Employees :

10 (Approximately)

Bankers :

Banker Name	Yes Bank
Branch Address	Horniman Circle, Vadodara, Gujarat, 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

Auditors :
Name :	Vinesh Mehta and Company Chartered Accountants
Address :	202, Amit Complex, Opposite Panchratna Apartment, Subhanpura, Vadodara – 390023, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	ADUPN3254H
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

AS ON 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 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	0.100	0.100	0.100
(b) Reserves & Surplus	(0.046)	(0.040)	(0.031)
(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)	0.054	0.060	0.069
(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	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.010	0.009	0.000
(d) Short-term provisions	0.000	0.000	0.010
Total Current Liabilities (4)	0.010	0.009	0.010
TOTAL	0.064	0.069	0.079
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.004
(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	0.000	0.000	0.004
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.012	0.012	0.013
(e) Short-term loans and advances	0.052	0.055	0.062
(f) Other current assets	0.000	0.002	0.000
Total Current Assets	0.064	0.069	0.075
TOTAL	0.064	0.069	0.079

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	0.000	0.000	0.000
	Other Income	0.000	0.000	0.000
	TOTAL (A)	0.000	0.000	0.000
Less	EXPENSES
	Other expenses	0.004	0.006	0.008
	TOTAL	0.004	0.006	0.008
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(0.004)	(0.006)	0.008
Less/ Add	DEPRECIATION/ AMORTISATION	0.002	0.002	0.002
	PROFIT/ (LOSS) BEFORE TAX	(0.006)	(0.008)	(0.010)
Less	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	(0.006)	(0.008)	(0.010)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	(0.040)	(0.031)	0.000
	Balance Carried to the B/S	(0.046)	(0.039)	(0.010)
	Earnings / (Loss) Per Share (Rs.)	0.06	0.08	1.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	(9.38)	(11.59)	(13.33)
Return on Investment (ROI) (PBT/Networth)		(0.11)	(0.13)	(0.14)
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		6.40	7.67	7.50

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	0.100	0.100	0.100
Reserves & Surplus	(0.031)	(0.040)	(0.046)
Net worth	0.069	0.060	0.054
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	No
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	Yes
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	No
18	Major suppliers	No
19	Major customers	No
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 320 Sidharth Complex, R. C Dutt Road, Alkapuri, Vadodara, Gujarat, India to the present address w.e.f. 07.07.2009

INDEX OF CHARGES NO CHARGES EXIST FOR COMPANY

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.63.76
UK Pound	1	Rs.97.80
Euro	1	Rs.69.91

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	KIN
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		11

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.