MIRA INFORM REPORT

Report No. :	324598
Report Date :	08.06.2015

IDENTIFICATION DETAILS

Name :	KEVIN STEELS PRIVATE LIMITED
Registered Office :	Old No:-, New No. 86A, Kamatchi Nagar Main Road, Kamatchi Nagar, Valasaravakkam, Chennai – 600087, Tamilnadu
Tel. No.:	91-44-42805809
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	29.05.2008
Com. Reg. No.:	18-067969
Capital Investment / Paid-up Capital :	Rs. 12.500 Million
CIN No.: [Company Identification No.]	U27100TN2008PTC067969
IEC No.:	0412023458
TIN. :	33191705441
PAN No.: [Permanent Account No.]	AADCK4051H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Importer of Mild Steel Billets
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 65000
Status :	Moderate
Payment Behavior :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Management of the company has not filed its financial with the government department for the year 2014. As per available financial of 2013, the company has not commenced its commercial operation as the company project was under construction. Mr. Selvan Manager provided general information and denied to disclose any information about the company, he even refused whether the company commenced its commercial operation or not. However, Capital base of the company is satisfactory. As per registrar of Companies the status of the company is shown as active. Payments terms are unknown. The company can be considered for business dealings with great caution.

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

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 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Selvan
Designation :	Manager
Contact No.:	91-9677129631
Date :	06.06.2015

LOCATIONS

Registered Office/Factory :	Old No:-, New No. 86A, Kamatchi Nagar Main Road, Kamatchi Nagar, Valasaravakkam, Chennai – 600087, Tamilnadu, India
Tel. No.:	91-44-42805809
Mobile No.:	91-9443811362 (Mr. Thirunavukkarasu)
Fax No.:	Not Available
E-Mail :	kkv-trichy@yahoo.co,in kevinstells2012@yahoo.in
Location :	Owned
Factory :	342/343/289, Ramchandrapuram, Matharpakkam Village, Gummidipoondi, Chennai – 601201, Tamilnadu, India

DIRECTORS

As on: 25.09.2013

Name :

Mr. Selladurai Frank Robinson

Designation :

Managing Director

Address :

86 A, Kamatchi Nagar Main Road, Kamatchi Nagar, Valasaravakkam, Chennai – 600087, Tamilnadu, India

Date of Birth/Age :

19.06.1968

Date of Appointment :

29.05.2008

DIN No.:

01980291

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	U27100TN2008PTC067969	KEVIN STEELS PRIVATE LIMITED	Managing director	15/03/2013	29/05/2008	-	Active	NO

Name :

Mr. Sambasivam Thirunavukkarasu

Designation :

Director

Address :

No 8/1, Gandhi Nagar 9th Street, Thiruvannamalai, Thiruvannamalai – 606601, Tamilnadu, India

Date of Birth/Age :

12.03.1966

Date of Appointment :

29.05.2008

Voter ID No.:

TN/09/044/0144762

DIN No.:

02121290

KEY EXECUTIVES

Name :	Mr. Selvan
Designation :	Manager

MAJOR SHAREHOLDERS

As on: 14.03.2014

LIST OF ALLOTEES:

Names of Shareholders	No. of Shares
Sr. Steels Private Limited, Srilanka	93,05,800
Total	93,05,800

As on: 30.09.2013

Names of Shareholders	No. of Shares	Percentage
Mr. Selladurai Frank Robinson	1,25,000	10.00
Mr. Sambasivam Thirunavukkarasu	1000	0.08
Ms. Manjula Dharshini	1,24,000	9.92
Sr. Steels Private Limited, Srilanka	10,00,000	80.00
Total	12,50,000	100.00

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2013

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	88.66
Directors or relatives of directors	11.34
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Importer of Mild Steel Billets
Imports :
Products :	Raw Material
Countries :	Dubai Europe Singapore Malaysia
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

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 :

Wholesalers, 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 :

200 (Approximately)

Bankers :

Bank of Ceylon, No.20/21, Casa Major Road, (N.No.11), Zerat Garden, 2^nd Lane, Egmore, Chennai – 600008, Tamilnadu, India

Auditors :
Name :	Ct. Karuppanchetty Chartered Accountants
Address :	NO.14 , ALAGAR NAGAR, RETTAIVAIKKAL, TRICHY- 620102, Tamilnadu, India
Tel. No.:	Not Available
Mobile No.:	91-9942107744
Fax No.:	Not Available
PAN No.:	AOEPK2477H
Memberships :	----
Collaborators :	----
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

After as on: 30.03.2013

Authorized Capital: Rs. 70.000 Million

Issued, Subscribed & Paid-up Capital: Rs. 59.525 Million

As on: 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs.10/- each	Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,204,698	Equity Shares	Rs.10/- each	Rs. 22.047 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	12.500	0.100	0.100
(b) Reserves & Surplus	0.000	0.000	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	3.782	0.000	0.000
Total Shareholders’ Funds (1) + (2)	16.282	0.100	0.100
(3) Non-Current Liabilities	92.656	24.488	1.088
(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)	92.656	24.488	1.088
(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	9.213	0.085	0.070
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	9.213	0.085	0.070
TOTAL	118.151	24.673	1.258
II. ASSETS
(1) Non-current assets
(a) Fixed Assets	0.000	0.000	0.000
(i) Tangible assets	1.859	0.888	0.888
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	33.228	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)	0.000	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	35.087	0.888	0.888
(2) Current assets
(a) Current investments
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	4.452	0.424	0.153
(e) Short-term loans and advances	0.040	4.400	0.000
(f) Other current assets	78.572	18.961	0.217
Total Current Assets	83.064	23.785	0.370
TOTAL	118.151	24.673	1.258

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt/Networth)	5.69	244.88	10.88
Current Ratio (Current Asset/Current Liability)	9.02	279.82	5.29

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100	12.500
Reserves & Surplus	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	3.782
Net worth	0.100	0.100	16.282
long-term borrowings	1.088	24.488	92.656
Short term borrowings	0.000	0.000	0.000
Total borrowings	1.088	24.488	92.656
Debt/Equity ratio	10.880	244.880	5.691

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	No
12]	Profitability for last three years	No
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	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	No
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

Note: - Profit and Loss account of the company is not available

 INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10411521	14/02/2014	150000000	BANK OF CEYLON	NO.20/21, CASA MAJOR ROAD, N.NO.2 (O.NO.11), ZERA T GARDEN, 2ND LANE, EGMORE, CHENNAI, TAMILNADU-600008, INDIA	B97602668

* Date of charge modification

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.64.11
UK Pound	1	Rs.97.84
Euro	1	Rs.71.11

INFORMATION DETAILS

Information Gathered by :	PRE
Analysis Done by :	DIV
Report Prepared by :	DDD

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
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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		26

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.