MIRA INFORM REPORT

Report No. :	325198.2
Report Date :	25.06.2015

IDENTIFICATION DETAILS

Name :	EUROPAN METALS PRIVATE LIMITED

Registered Office :	301-302, AADI Near P.F Office, Akota Stadium Road, Vadodara – 390020, Gujarat
Mobile. No.:	91-9820135441

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	12.12.2006

Com. Reg. No.:	04-049564

Capital Investment / Paid-up Capital :	Rs.0.100 Million

CIN No.: [Company Identification No.]	U27109GJ2006PTC049564

TAN No.: [Tax Deduction & Collection Account No.]	BRDE00411F

PAN No.: [Permanent Account No.]	AABCE9159L

Legal Form :	Private Limited Liability Company

Line of Business :	Trading of Aluminium Products, Steel Products

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 :	Slow

Litigation :	Clear

Comments :	Even though, the company was incorporated on 12/12/2006 it is yet to commence its commercial operations. As per directors report, the company has not commenced any commercial activity during the year, so there is no revenue generated during the year. However, business is active as per the status shown in the registrar of companies. Payment are reported to be slow. 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

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 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Jayesh H. Shah
Designation :	Director
Contact No.:	91-9820135441
Date :	30.05.2015

LOCATIONS

Registered Office :	301-302, AADI Near P.F Office, Akota Stadium Road, Vadodara – 390020, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9820135441 (Mr. Jayesh )
Fax No.:	Not Available
E-Mail :	acc.phd@pankaj.co.in hitesh@pankaj.com hitesh@pankajmetal.co.in jayesh@euro[anltd.com
Location :	Owned
Locality :	Commercial

DIRECTORS

As on : 29.09.2014

Name :

Mr. Jayesh Harakchand Shah

Designation :

Director

Address :

61, Gokul 99, Walkeshwar Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

29.12.1965

Date of Appointment :

12.12.2006

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. Hitesh Harakchand Shah

Designation :

Director

Address :

504, Heera Panna Appartment, B/H, Alkapuri Arcade, R.C. Dutt Road, Alkapuri, Baroda – 390007, Gujarat, India

Date of Birth/Age :

27.07.1968

Date of Appointment :

12.12.2006

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

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

SHAREHOLDING PATTERN

		2014-2015			2015-2016
	SHAREHOLDER	No. of Shares	Shares Amount	SHARE HELD (%)	No. of Shares	Shares Amount	SHARE HELD (%)
2	Mr. Jayesh H. Shah	5000	0.050	50.00%	5000	0.050	50.00%
4	Mr. Hitesh H. Shah	5000	0.050	50.00%	5000	0.050	50.00%
	Total	10000	0.100		10000	0.100

BUSINESS DETAILS

Line of Business :	Trading of Aluminium Products, Steel Products

Products :	Aluminium Products Steel Products

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Credit

Purchasing :	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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

OEM’s 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 :

Bank Name	Axis Bank Limited
Branch	Mumbai, Maharashtra, 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

HDFC Bank, Tardeo, Mumbai, Maharashtra, India

BANKING DETAIL (INFLOW) FOR THE PERIOD FROM 01.04.2014 TO 31.03.2015

(Rs in Million)

MONTH	Bank of India	HDFC BANK	YES	TOTAL
APRIL	--	--	--	--
MAY	--	--	--	--
JUNE	--	--	--	--
JULY	--	--	0.050	0.050
AUGAST	--	--	0.030	0.030
SEPTEMBER	--	--	232.353	232.353
OCTOBER	--	--	127.293	127.293
NOVEMBER	--	--	185.015	185.015
DECEMBER	--	--	263.472	263.472
JANUARY	--	--	--	--
FEBRAURY	0.005	--	253.675	253.680
MARCH	224.643	--	1.100	225.743
Total	224.648	--	1062.990	1,287.639

;

BANKING DETAILS (INFLOW) FOR THE PERIOD FROM 01.04.2015 TO 05.06.2015

(Rs in Million)

MONTH	Bank of India	HDFC BANK	YES	TOTAL
APRIL	363.728	0.040	--	363.768
MAY	154.066	0.050	--	154.116
JUNE	98.464	--	--	98.464
	616.258	0.090	--	616.348

Auditors :
Name :	Vinesh Mehta and Company Chartered Accountants
Address :	202, Amit Complex, Opp. Panchratna Apartment, Subhanpura, Vadodara – 390023, Gujarat, India
Tel No.:	91-265-6581987
Email Id :	Vineshmehta_co@yahoo.com
PAN N Income-tax PAN of auditor or auditor's firm :	ADUPN3254H

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

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	(0.054)	(0.047)	(0.039)
(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)	0.046	0.053	0.061

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.001
(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	0.001

(4) Current Liabilities
(a) Short term borrowings	0.001	0.001	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.010	0.009	0.010
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	0.011	0.010	0.010

TOTAL	0.057	0.063	0.072

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	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.004
(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	0.000	0.000	0.000
(e) Short-term loans and advances	0.057	0.061	0.068
(f) Other current assets	0.000	0.002	0.000
Total Current Assets	0.057	0.063	0.068

TOTAL	0.057	0.063	0.072

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Revenue from operations	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	0.005	0.006	0.008
	TOTAL (B)	0.005	0.006	0.008

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(0.005)	(0.006)	(0.008)

Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.002	0.002	0.002

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(0.007)	(0.008)	(0.010)

Less	TAX (H)	0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(0.007)	(0.008)	(0.010)

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	(0.047)	(0.039)	(0.029)

	Balance Carried to the B/S (J+K+L-M)	(0.054)	(0.047)	(0.039)

	Earnings / (Loss) Per Share (Rs.)	(0.69)	(0.81)	(0.99)

Particulars

31.03.2015

Sales Turnover

2500.000

Expected Sales (2015-2016) : Rs.3000.000 Million

The above information has been parted by Mr. Jayesh (Director)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

Cash generated from operations

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	(12.28)	(12.70)	(14.71)

Return on Investment (ROI) (PBT/Networth)		(0.15)	(0.15)	(0.16)

Debt Equity Ratio (Total Debt /Networth)		0.02	0.02	0.02

Current Ratio (Current Asset/Current Liability)		5.18	6.30	6.80

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	(0.039)	(0.047)	(0.054)
Net worth	0.061	0.053	0.046

long-term borrowings	0.001	0.000	0.000
Short term borrowings	0.000	0.001	0.001
Total borrowings	0.001	0.001	0.001
Debt/Equity ratio	0.016	0.019	0.022

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	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	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
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	Yes
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 – 390007, Gujarat, India to the present address w.e.f. 07.07.2009

PURCHASING AND SELLING DETAILS

FOR THE PERIOD FROM 01.04.1014 TO 31.03.2015

(Rs in Million)

	SALES DETAILS			PURCHASE DETAILS
Month	NET	VAT	TOTAL	NET	VAT	TOTAL
APRIL	--	--	--	--	--	--
MAY	--	--	--	--	--	--
JUNE	--	--	--	--	--	--
JULY	--	--	--	--	--	--
AUGAST	36.161	1.808	37.969	49.104	2.455	51.559
SEPTEMBER	185.256	9.262	194.519	171.533	8.576	180.109
OCTOBER	217.261	10.863	228.124	216.818	10.840	227.659
NOVEMBER	136.500	6.825	143.325	143.325	6.809	143.002
DECEMBER	281.797	14.089	295.887	295.887	14.058	295.234
JANUARY	212.807	10.640	223.448	223.448	10.644	222.831
FEBRAURY	359.844	30.159	390.004	390.004	30.086	389.065
MARCH	--	--	--	--	--	--
TOTAL	1,429.629	83.649	1,513.278	1,426.024	83.439	1,509.463

FOR THE PERIOD FROM 01.04.1015 TO 05.06.2015

(Rs in Million)

	SALES DETAILS			PURCHASE DETAILS
Month	NET	VAT	TOTAL	NET	VAT	TOTAL
APRIL	204.222	10.211	214.433	203.880	10.194	214.074
MAY	238.921	11.946	250.867	238.436	11.921	250.358
JUNE	182.580	9.129	191.709	34.576	1.728	36.305
TOTAL	625.724	31.286	657.011	476.894	23.844	500.739

TRADE REFERENCES – LOCAL

Bedmutha Industries Limited
Belgium Aluminium and Glass Industries Limited
Alfaraa Infra Projects Private Limited
Salasar Alloy and Steel Industries Private Limited

FINANCIAL RESULTS :

Since the company has not commenced any commercial activity during the year, there is no revenue generated for the year. Hence there is no profit or loss for the year

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans and Advances from related parties from Director	0.001	0.001
Total	0.001	0.001

INDEX OF CHARGES : NO CHARGES EXIST FOR THE 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 records 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.63.61
UK Pound	1	Rs.99.79
Euro	1	Rs.71.16

INFORMATION DETAILS

Information Gathered by :	MNJ

Analysis Done by :	KIN

Report Prepared by :	SUJ

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	--

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

INDEX OF CHARGES : NO CHARGES EXIST FOR THE COMPANY

Unit