MIRA INFORM REPORT

Report No. :	325224
Report Date :	02.06.2015

IDENTIFICATION DETAILS

Name :	USBCO STEELS PRIVATE LIMITED
Formerly Known As :	UNITED STEEL AND BEARING COMPANY
Registered Office :	73, Bentinck Street, 1^st Floor, Kolkata – 700001, West Bengal
Tel. No.:	91-33 22363176
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.02.2006
Com. Reg. No.:	21-107812
Capital Investment / Paid-up Capital :	Rs. 11.100 Million
CIN No.: [Company Identification No.]	U27109WB2006PTC107812
IEC No.:	0206001932
TAN No.: [Tax Deduction & Collection Account No.]	CALU02952F
PAN No.: [Permanent Account No.]	AAACU8166A
Legal Form :	Private Limited Liability Company.
Line of Business :	Trading of Steel and Iron
No. of Employees :	Information declined by the management

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 330000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Subject was established in 1960. USBCO, Steel trading Company of Kejriwal Group of Companies. General financial position of the company seems to be fair. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In the view of extensive experience of promoters and established relationship with the customers, the subject can be considered for business at 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 DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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 DENIED

MANAGEMENT NON CO-OPERATIVE (91-33-22365216)

LOCATIONS

Registered Office :	73, Bentinck Street, 1^st Floor, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-2236 5216/ 5613
Fax No.:	91-33-2225 9640
E-Mail :	sales@usbcosteels.com
Head Office :	New Delhi: W-42, Greater Kailash Part II, New Delhi - 110048 India Tel: 91-11-29210985 E-mail: sales@usbcosteels.com / ngupta@usbcosteels.com Mumbai: 41, Devidas Mansion, 4, B.K.B.B. Marg, Apollo Bunder, Colaba, Mumbai - 400 001, Maharashtra, India Tel: 91-22-22828911-13/ 22049789 Fax: 91- 22- 22856313 E-mail: mjayer@usbcosteels.com / sales@usbcosteels.com Bangalore: 214 Embassy Centre, Crescent Road, Bangalore - 560 001 (Karnataka) India Tel: 91-80- 22264787 / 22283735 Fax: 91- 80-22283735 E-mail:bgl_kej@satyam.net.in/drkpillai@usbcosteels.com/ sales@usbcosteels.com
Representative Offices:	Located At: Ahmedabad Chennai Pune Rajkot and Other Industrial Towns

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Nathmull Kejriwal

Designation :

Directors

Address :

22, Alipore Road, Kolkata- 700 027, West Bengal, India

Date of Birth/Age :

05.12.1938

Date of Appointment :

07.02.2006

DIN No.:

00458591

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	L51109WB1982PLC035536	KEJRIWAL ENTERPRISES LIMITED	Director	09-10-1983	09-10-1983	-	Active	NO
2	U51505WB1954PTC022058	ASIA ENGINEERING SUPPLY STORES PRIVATE LIMITED	Director	11-07-1984	11-07-1984	-	Active	NO
3	U74899DL1985PTC020856	ASIAN GRANITES PRIVATE LIMITED	Director	21-01-1986	21-01-1986	17-12-2010	Active	NO
4	U17114HR1986PLC023479	KEJRIWAL TEXTILES LIMITED	Director	27-02-1986	27-02-1986	30-08-2010	Active	NO
5	U01122DL1989GOI037563	TROPICAL FRUITS INTERNATIONAL LIMITED	Director	04-09-1989	04-09-1989	30-08-2010	Active	NO
6	U51109WB1993PTC061042	VIJAYESWARI COMMODITIES PRIVATE LIMITED	Director	18-03-1994	18-03-1994	-	Active	NO
7	U30006WB1997PLC084746	KEJRIWAL COMPUTERS LIMITED	Director	26-06-1997	26-06-1997	-	Active	NO
8	U27109WB2006PTC107812	USBCO STEELS PRIVATE LIMITED	Director	07-02-2006	07-02-2006	-	Active	NO
9	U45200WB2007PTC114291	LUCID REAL ESTATE PRIVATE LIMITED	Director	20-03-2007	20-03-2007	-	Active	NO
10	U45400WB2007PTC115049	RAINTREE BUILDINGS PRIVATE LIMITED	Director	05-04-2007	05-04-2007	-	Active	NO
11	U45400WB2007PTC115050	BANYANTREE PROPERTIES PRIVATE LIMITED	Director	05-04-2007	05-04-2007	-	Active	NO
12	U27203WB2007PTC117464	VIDHATRI ALUMINIUM PRIVATE LIMITED	Director	26-07-2007	26-07-2007	-	Active	NO
13	U51909WB2009PTC137297	HARIDRA COMMERCIAL PRIVATE LIMITED	Director	29-07-2009	29-07-2009	-	Active	NO
14	U70101WB1989PTC046869	TOLLY PROPERTIES PRIVATE LIMITED.	Additional director	02-04-2012	02-04-2012	-	Active	NO

Name :

Mr. Prabhat Kejriwal

Designation :

Directors

Address :

22, Alipore Road, Kolkata- 700 027, West Bengal, India

Date of Birth/Age :

23.01.1965

Date of Appointment :

07.02.2006

DIN No.:

00477177

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	L51109WB1982PLC035536	KEJRIWAL ENTERPRISES LIMITED	Director	25-10-1988	25-10-1988	-	Active	NO
2	L15419WB1988PLC044472	EFL FOODS LIMITED	Director	03-12-1988	03-12-1988	13-02-2012	Active	NO
3	U17114HR1986PLC023479	KEJRIWAL TEXTILES LIMITED	Director	15-02-1989	15-02-1989	30-08-2010	Active	NO
4	U74899DL1989PTC038110	ASIAN ROLLER FLOUR MILLS PRIVATE LIMITED	Director	05-09-1991	05-09-1991	12-07-2007	Active	NO
5	U51909WB1993PTC060819	SPEEDWELL VYAPAAR PRIVATE LIMITED	Director	08-04-1994	08-04-1994	-	Active	NO
6	U52190WB1994PTC062655	ACCAUTO MARKETING PRIVATE LIMITED	Director	07-06-1996	07-06-1996	-	Active	NO
7	U30006WB1997PLC084746	KEJRIWAL COMPUTERS LIMITED.	Director	26-06-1997	26-06-1997	-	Active	NO
8	U01122DL1989GOI037563	TROPICAL FRUITS INTERNATIONAL LIMITED	Director	02-09-1998	02-09-1998	30-08-2010	Active	NO
9	U64204WB2000PTC091907	KEPEX INFRATECH PRIVATE LIMITED	Director	31-05-2000	31-05-2000	-	Active	NO
10	U51109WB1993PTC061040	MANGALSHRI TREXIM PRIVATE LIMITED	Director	18-03-2004	18-03-2004	-	Active	NO
11	U51505WB1954PTC022058	ASIA ENGINEERING SUPPLY STORES PRIVATE LIMITED	Director	02-01-2006	02-01-2006	-	Active	NO
12	U27109WB2006PTC107812	USBCO STEELS PRIVATE LIMITED	Director	07-02-2006	07-02-2006	-	Active	NO
13	U45200WB2007PTC114291	LUCID REAL ESTATE PRIVATE LIMITED	Director	20-03-2007	20-03-2007	-	Active	NO
14	U45400WB2007PTC115049	RAINTREE BUILDINGS PRIVATE LIMITED	Director	05-04-2007	05-04-2007	-	Active	NO
15	U45400WB2007PTC115050	BANYANTREE PROPERTIES PRIVATE LIMITED	Director	05-04-2007	05-04-2007	-	Active	NO
16	U27203WB2007PTC117464	VIDHATRI ALUMINIUM PRIVATE LIMITED	Director	26-07-2007	26-07-2007	-	Active	NO
17	U51909WB2009PTC136547	RISHI COMMERCIAL PRIVATE LIMITED	Director	07-07-2009	07-07-2009	-	Active	NO
18	U70200WB2009PTC136957	NAVAM ESTATES PRIVATE LIMITED	Director	18-07-2009	18-07-2009	-	Active	NO
19	U51909WB2009PTC137297	HARIDRA COMMERCIAL PRIVATE LIMITED	Director	29-07-2009	29-07-2009	-	Active	NO
20	U70101WB1989PTC046869	TOLLY PROPERTIES PRIVATE LIMITED	Additional director	19-05-2010	19-05-2010	-	Active	NO

Name :

Mr. Ravi Kejriwal

Designation :

Directors

Address :

22, Alipore Road, Kolkata- 700 027, West Bengal, India

Date of Birth/Age :

29.03.1969

Date of Appointment :

07.02.2006

DIN No.:

00477125

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	L51109WB1982PLC035536	KEJRIWAL ENTERPRISES LIMITED	Director	02-12-1989	02-12-1989	-	Active	NO
2	U17114HR1986PLC023479	KEJRIWAL TEXTILES LIMITED	Director	01-08-1992	01-08-1992	30-08-2010	Active	NO
3	U70101WB1989PTC046869	TOLLY PROPERTIES PRIVATE LIMITED	Director	25-03-1994	25-03-1994	-	Active	NO
4	U52190WB1994PTC062655	ACCAUTO MARKETING PRIVATE LIMITED	Director	28-04-1994	28-04-1994	-	Active	NO
5	U51109WB1993PTC061042	VIJAYESWARI COMMODITIES PRIVATE LIMITED	Director	11-08-1995	11-08-1995	-	Active	NO
6	U51109WB1993PTC061040	MANGALSHRI TREXIM PRIVATE LIMITED	Director	11-08-1995	11-08-1995	-	Active	NO
7	U30006WB1997PLC084746	KEJRIWAL COMPUTERS LIMITED	Director	26-06-1997	26-06-1997	-	Active	NO
8	U64204WB2000PTC091907	KEPEX INFRATECH PRIVATE LIMITED	Director	31-05-2000	31-05-2000	-	Active	NO
9	U51505WB1954PTC022058	ASIA ENGINEERING SUPPLY STORES PRIVATE LIMITED	Director	02-01-2006	02-01-2006	-	Active	NO
10	U27109WB2006PTC107812	USBCO STEELS PRIVATE LIMITED	Director	07-02-2006	07-02-2006	-	Active	NO
11	U51909WB1993PTC060819	SPEEDWELL VYAPAAR PRIVATE LIMITED	Director	25-08-2006	25-08-2006	-	Active	NO
12	U45200WB2007PTC114291	LUCID REAL ESTATE PRIVATE LIMITED	Director	20-03-2007	20-03-2007	-	Active	NO
13	U45400WB2007PTC115049	RAINTREE BUILDINGS PRIVATE LIMITED	Director	05-04-2007	05-04-2007	-	Active	NO
14	U45400WB2007PTC115050	BANYANTREE PROPERTIES PRIVATE LIMITED	Director	05-04-2007	05-04-2007	-	Active	NO
15	U70200WB2009PTC136957	NAVAM ESTATES PRIVATE LIMITED	Director	18-07-2009	18-07-2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Radhe Shyam Kejriwal	176100
Prabhat Kejriwal	181600
Ravi Kejriwal	205400
Speedwell Vyappar Private Limited	6200
Vijayeswari Commodities Private Limited	1700
Sushila R. Kejriwal	20000
R. S. Kejriwal and Others HUF	20000
Prabhat Kejriwal and Others HUF	11700
Madhavi Kejriwal	16700
Risabh Kejriwal	26700
Richa Kejriwal	5000
KCIL Limited	4200
Emco Enterprises and Investment Private Limited	66300
Quickcut Services Private Limited	51300
Ravi Kejriwal and Others HUF	3300
Leena Kejriwal	1700
Tushar Kejriwal	28000
Vasvi Kejriwal	3300
Innovative Leasing and Finance Private Limited	50000
Jagjyoti Investment Private Limited	54000
Paridhi Enterprises and Inv Private Limited	50000
Kejriwal Enterprises Limited	126800
Total	1110000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	36.98
Directors or relatives of Directors	63.02
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading of Steel and Iron
Products :	Steel and Iron
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS NOT AVAIALBLE

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 :

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 :

Information declined by the management

Bankers :

Banker Name	Not Divulged
Branch Address	Not Divulged
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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Loan: HDFC Bank (Secured against equitable mortgage of Land and Building at Chinsurah Godown) (terms of repayment: EMI)	18.135	11.594
Less: Current Maturities included in Other Current Liabilities	(3.492)	(1.179)
Braking Capital Loan From HDFC Bank (Secured Against Hypothecation of Stock and Book Debts) (terms of repayment: EMI)	0.000	5.877
Less: Current Maturities included in other Current Liabilities	0.000	(5.877)
HDFC Bank Equipment Loan (Secured Against Equipment) (terms of repayment: EMI)	0.089	0.421
Less: Current Maturities included in other Current Liabilities	(0.089)	(0.332)
Car Loan (Secured against Hypothecation of Car) (terms of repayment: EMI)	1.780	1.431
Less: Current Maturities included in other Current Liabilities	(0.799)	(1.090)
SHORT TERM BORROWING
Loans Repayable On Demand
Cash Credit from HDFC Bank (Secured Against Hypothecation of Stock and Book Debts)	164.906	98.604
Byers credit From Banks	13.228	73.081
Loans and Advances From Unrelated Parties	8.067	17.922
Other Deposits and Advances	4.201	8.339
Total	206.026	208.791

Auditors :
Name :	N K Jain and Company Chartered Accountants
Address :	2, Jawahar Lal Nehru Road, Kolkata- 700 013, West Bengal, India
Tel. No.:	91-33-22287022/22288021
Fax No.:	91-33-24618132
PAN No.:	ACGPJ7980G
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.10/- each	Rs.15.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1110000	Equity Shares	Rs.10/- each	Rs.11.100 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	11.100	10.000	10.000
(b) Reserves & Surplus	107.698	89.379	81.030
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.400	0.550
Total Shareholders’ Funds (1) + (2)	118.798	99.779	91.580
(3) Non-Current Liabilities
(a) long-term borrowings	62.143	51.922	51.711
(b) Deferred tax liabilities (Net)	1.267	1.134	0.895
(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)	63.410	53.056	52.606
(4) Current Liabilities
(a) Short term borrowings	190.402	197.946	178.961
(b) Trade payables	91.427	50.854	19.610
(c) Other current liabilities	8.708	11.314	10.547
(d) Short-term provisions	8.015	7.240	3.370
Total Current Liabilities (4)	298.552	267.354	212.488
TOTAL	480.760	420.189	356.674
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	21.796	21.349	16.795
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	33.766	19.110	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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.124	0.502	2.886
(e) Other Non-current assets	0.037	0.055	0.073
Total Non-Current Assets	56.723	41.016	19.754
(2) Current assets
(a) Current investments	276.056	261.059	208.183
(b) Inventories	133.738	106.341	122.689
(c) Trade receivables	4.018	0.670	0.885
(d) Cash and cash equivalents	2.387	4.058	1.664
(e) Short-term loans and advances	7.838	7.045	3.499
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	424.037	379.173	336.920
TOTAL	480.760	420.189	356.674

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	NA	NA	NA
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	12.871	12.461	11.293
Less	TAX	4.453	4.112	3.490
	PROFIT/ (LOSS) AFTER TAX (	8.418	8.349	7.803
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	34.379	26.030	18.227
	Balance Carried to the B/S (J+K+L-M)	42.797	34.379	26.030
	Earnings / (Loss) Per Share (Rs.)	7.58	NA	NA

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	3.492	1.179	NA
Cash generated from operations	29.518	24.166	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	2.88	3.11	3.17
Return on Investment (ROI) (PBT/Networth)		0.11	0.12	0.12
Debt Equity Ratio (Total Debt /Networth)		2.16	2.52	2.52
Current Ratio (Current Asset/Current Liability)		1.42	1.42	1.59

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	10.000	10.000	11.100
Reserves & Surplus	81.030	89.379	107.698
Share Application money pending allotment	0.550	0.400	0.000
Net worth	91.580	99.779	118.798
long-term borrowings	51.711	51.922	62.143
Short term borrowings	178.961	197.946	190.402
Current maturities of long-term debts	0.000	1.179	3.492
Total borrowings	230.672	251.047	256.037
Debt/Equity ratio	2.519	2.516	2.155

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	No
7	Name of the person contacted	No
8	Designation of contact person	No
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	No
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	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from P - 15, Bentinck Street, Kolkata - 700001, West Bengal, India to the present address w.e.f. 12.11.2008

UNSECURED LOAN

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
From Related Parties	27.663	19.569
From Unrelated Parties	18.856	21.507
Total	46.519	41.076

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10390876	27/11/2012	261,170,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, Maharashtra, INDIA	B63694483
2	10308595	01/08/2011	900,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B21742895
3	10252577	24/12/2014 *	256,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, Maharashtra, INDIA	C41671348

* Date of charge modification

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014	31.03.2013
a) Claims against the company not acknowledged as debts:
Appeal pending before the Ld. Jt. Commissioner, Dharamtalla Circle CST for FY 2010-2011 under CST Act, 1956	1.487	0.000
VAT for FY 2010-2011 under WB VAT Act,2003	4.693	0.000
Appeal pending before the WBCT Appellate and Revisional Board
CST for FY 2005-06 under CST Act, 1956	0.148	0.148
CST for FY 2006-07 under CST Act, 1956	0.020	0.020
CST for FY 2007-08 under CST Act, 1956	0.076	0.076
CST for FY 2008-09 under CST Act, 1956	0.339	0.339
CST for FY 2009-10 under CST Act, 1956	0.281	0.814
CST for FY 2008-09 under WB VAT Act, 2003	0.569	0.569
b) Guarantees given	0.000	0.000
c) Other money for which the company is contingent liable	0.000	0.000

FIXED ASSETS

Tangible assets

• Land and Land Developments
• Buildings Office
• Plant and Equipments
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer

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 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.63.61
UK Pound	1	Rs.97.27
Euro	1	Rs.69.63

INFORMATION DETAILS

Information Gathered by :	GYA
Analysis Done by :	SAN
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--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.