MIRA INFORM REPORT

Report No. :	322412
Report Date :	21.05.2015

IDENTIFICATION DETAILS

Name :	NAMCO INDUSTRIES PRIVATE LIMITED
Registered Office :	Survey No 44,134,135 and Others, Village Horale Khapoli Pen Road, Post Wawashi, Horale, Khalapur, Raigarh-410203, India
Tel No :	91-731-4026666/4036666
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	03.08.2009
Com. Reg. No.:	11-194593
Capital Investment / Paid-up Capital :	Rs.200.000 Million
CIN No.: [Company Identification No.]	U27101MH2009PTC194593
IEC No.:	1109004737
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCN0843L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer. Exporter and Suppliers of Steel Products. Including Steel Grits, Stainless Steel Wire Cut Shots, Steel Shots, Duplex Steel Round Bar, Steel Rounder Bar, Décor Steel Sheet etc.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Moderate
Payment Behavior :	Unknown
Litigation :	Exist
Comments :	Subject is private limited company. The management has failed to file financial details with government since 2012. Company has not carries any business activity in the year 2012 as per financials. Trade relation are unknown. Credit not recommended for this company.

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	CARE
Rating	Long Term D (Suspended)
Rating Explanation	Lowest- Credit Quality Very Low Prospects of Recovery.
Date	March.2015
Rating Agency Name	CARE
Rating	Short Term D (Suspended)
Rating Explanation	Default or Expected to be in Default a Maturity.
Date	March.2015

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 (General Information)

Name :	Mr. Namit Soni
Designation :	Director
Contact No.:	91-731-4026666
Date :	13.05.2015

LOCATIONS

Registered Office/ Factory :	Survey No 44,134,135 and Others, Village Horale Khapolipen Road, Post Wawashi, Horale, Khalapur, Raigarh-410203, India
Tel. No.:	91-731-4026666/4036666
Mobile No.:	91-9890380668 (Mr. Sekhar)
Fax No.:	91-731-4037252
E-Mail :	namit@namcoindustries.com
Website:	http://www.namcocorp.com
Head Office :	Namco House-14/1 New Palasia, Indore-452001, Madhya Pradesh, India
Corporate Office :	Namco Corp - 525 Vyapar Bhawan, P. Mello Road, Carnac Bunder, Masjid East, Mumbai – 400009, Maharashtra, India
Branches :	3^rd Floor, Kanika Building, 14/1, New Palasia, Indore, Madhya Pradesh, India

DIRECTORS

As on 30.09.2011

Name :

Shri Namit Soni

Designation :

Director

Address :

19/2, Manorama Gunj, Indore-452001, Madhya Pradesh, India

Date of Appointment :

3.08.2009

DIN No.:

01411732

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	U51909MH2007PTC172447	DARSHAN MERCANTILE PRIVATE LIMITED	Additional director	23/07/2007	23/07/2007	-	Active	NO
2	U27320MH2007PLC173515	GLOBAL TRADEX LIMITED	Managing director	31/03/2009	27/08/2007	-	Active	NO
3	U36912MH2008PTC178488	TRUE VALUE DIAMONDS PRIVATE LIMITED	Director	05/02/2008	05/02/2008	-	Active	NO
4	U51909MH2009PTC194346	LONGRANGE COMMODITIES PRIVATE LIMITED	Director	24/07/2009	24/07/2009	-	Active	NO
5	U27101MH2009PTC194593	NAMCO INDUSTRIES PRIVATE LIMITED	Director	03/08/2009	03/08/2009	-	Active	NO
6	U45200MP2010PTC023677	NAMCO REALITY PRIVATE LIMITED	Director	31/05/2010	31/05/2010	-	Active	NO
7	U70100MP2010PTC024137	VISIONARY REALINFRA PRIVATE LIMITED	Director	18/08/2010	18/08/2010	19/02/2011	Active	NO
8	U45400HR2007PTC036927	PANACEA WAREHOUSING AND INFRASTRUCTURES PRIVATE LIMITED	Additional director	14/09/2010	14/09/2010	31/03/2015	Active	NO
9	U65921MH1994PTC084190	SKYSCRAPPERS DEVELOPERS PRIVATE LIMITED	Director	22/12/2010	22/12/2010	23/03/2013	Active	NO
10	U51101MH2012PTC234481	ATZ CORP PRIVATE LIMITED	Director	14/08/2012	14/08/2012	-	Active	NO

Name :

Mr. Shri Ujwal Soni

Designation :

Director

Address :

19/2, Manorama Gunj, Indore-452001, Madhya Pradesh, India

Date of Appointment :

15.12.2010

DIN No.:

02585537

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	U27320MH2007PLC173515	GLOBAL TRADEX LIMITED	Director	30/09/2011	31/03/2009	-	Active	NO
2	U27101MH2009PTC194593	NAMCO INDUSTRIES PRIVATE LIMITED	Director	30/09/2011	15/12/2010	-	Active	NO
3	U65921MH1994PTC084190	SKYSCRAPPERS DEVELOPERS PRIVATE LIMITED	Director	22/12/2010	22/12/2010	-	Active	NO
4	U51909MH2007PTC172447	DARSHAN MERCANTILE PRIVATE LIMITED	Director	22/03/2011	22/03/2011	-	Active	NO
5	U36912MH2008PTC178488	TRUE VALUE DIAMONDS PRIVATE LIMITED	Director	22/03/2011	22/03/2011	-	Active	NO
6	U45200MP2010PTC023677	NAMCO REALITY PRIVATE LIMITED	Director	22/03/2011	22/03/2011	-	Active	NO
7	U45400HR2007PTC036927	PANACEA WAREHOUSING AND INFRASTRUCTURES PRIVATE LIMITED	Director	22/03/2011	22/03/2011	31/03/2015	Active	NO
8	U51909MH2009PTC194346	LONGRANGE COMMODITIES PRIVATE LIMITED	Director	30/04/2011	30/04/2011	-	Active	NO
9	U51101MH2012PTC234481	ATZ CORP PRIVATE LIMITED	Director	14/08/2012	14/08/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Namit Soni
Designation :	Director
Address :	19/2, Manorama Gunj, Indore-452001, Madhya Pradesh, India
Date of Appointment :	03.08.2009

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares	%age
Vijay Soni	5000	0.03
Namit Soni	3405000	17.03
Anuradha Soni	3300000	16.50
Ujjwal Soni	3300000	16.50
Darshan Mercantile Private Limited	5000000	25.00
Ragini Trading and Investment Ltd.	4990000	24.95
Total	20000000	100.00

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	49.95
Directors or relatives of Directors	50.05
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer. Exporter and Suppliers of Steel Products. Including Steel Grits, Stainless Steel Wire Cut Shots, Steel Shots, Duplex Steel Round Bar, Steel Rounder Bar, Décor Steel Sheet etc.
Products :	Steel Round Bars Deformed Steel Bars Galvanized Steel Mild Steel Beam Stainless steel Sleeves Ribbed Steel Bar
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Advance Payment and L/C
Purchasing :	Advance Payment and L/C

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 :

End Users, Manufacturer and Trader

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 :

200 (Approximately)

Bankers :

Banker Name	UCO Bank
Branch Address	New Palasia Branch, 2/5, 3/5, Girnar Tower, Indore-452001, Madhya Pradesh, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWING
Borrowing [Member]	1278.904	1201.363
Total	1278.904	1201.363

Auditors :
Name :	Dafria and Company Chartered Accountant
Address :	A-1, Megh Building, 13/2, M. G. Road, Indore – 452001, Madhya Pradesh, India
E-Mail :	rvdafria@rediffmail.com
PAN No.:	ABWPD7295H
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000,000	Equity Shares	Rs.10/- each	Rs.200.000Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20,000,000	Equity Shares	Rs.10/- each	Rs.200.000Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	400.000	200.000
(b) Reserves & Surplus	50.160	50.160
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	516.238	0.000
Total Shareholders’ Funds (1) + (2)	966.398	250.160
(3) Non-Current Liabilities
(a) long-term borrowings	1373.904	1492.733
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	1373.904	1492.733
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	961.533	68.500
(c) Other current liabilities	882.707	195.610
(d) Short-term provisions	0.145	0.087
Total Current Liabilities (4)	1844.385	264.197
TOTAL	4184.687	2007.090
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9.729	5.199
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	2590.468	1557.726
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	2600.197	1562.925
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1409.586	0.000
(c) Trade receivables	0.000	68.598
(d) Cash and cash equivalents	22.873	3.707
(e) Short-term loans and advances	152.031	371.860
(f) Other current assets	0.000	0.000
Total Current Assets	1584.490	444.165
TOTAL	4184.687	2007.090

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		100.000
2] Share Application Money		0.000
3] Reserves & Surplus		50.100
4] (Accumulated Losses)		0.000
NETWORTH		150.100
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		279.920
TOTAL BORROWING		279.920
DEFERRED TAX LIABILITIES		0.000
TOTAL		430.020
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		114.400
Capital Advance		177.700
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	2.473
	Other Current Assets	0.000
	Loans & Advances	305.188
Total Current Assets		307.661
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	177.837
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		177.837
Net Current Assets		129.824
MISCELLANEOUS EXPENSES		8.096
TOTAL		430.020

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		TOTAL INCOME	0.000	68.598	0.000
Less	EXPENSES
		TOTAL EXPENSES	0.000	68.512	0.000
	PROFIT/(LOSS) BEFORE TAX		0.000	0.086	0.000
Less	TAX		0.000	0.027	0.000
	PROFIT/(LOSS) AFTER TAX		0.000	0.059	0.000
	Earnings Per Share (Rs.)		0.000	NA	0.000

Expected Sales Not Divulged

The above information has been denied by Mr. Namit Soni

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PAT/Sales)	(%)	0.00	0.09	0.00
Operating Profit Margin (PBDIT / Sales)	(%)	0.00	0.13	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00	0.02	0.00
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00
Debt Equity Ratio (Total Debt /Networth)		1.42	5.97	0.00
Current Ratio (Current Asset/Current Liability)		0.86	1.68

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	(Rs. In Million)	(Rs. In Million)
Share Capital	200.000	400.000
Reserves & Surplus	50.160	50.160
Net worth	250.160	450.160
long-term borrowings	1492.733	1373.904
Short term borrowings	0.000	0.000
Total borrowings	1492.733	1373.904
Debt/Equity ratio	5.967	3.052

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 One years	Yes
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	Yes
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	No
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

Note:

Registered office of the company has been shifted from 208-209, A Wing, Steelyard Market, Katomboli, Raigarh-410208, Maharashtra, India to the present address w.e.f 30.11.2010

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWING
Borrowing [Member]	95.000	291.370
Total	95.000	291.370

FIXED ASSETS

• Vehicles
• Furniture and Fixtures
• Equipment
• Other Equipment
• Motor Vehicles
• Computer Equipment

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10448649	09/09/2013	47,400,000.00	UCO Bank	New Palasia Branch, 2/5, 3/5,Girnar tower, Indore , Madhya Pradesh - 452001, INDIA	B84824887
2	10423394	29/04/2013	2,534,800,000.00	UCO Bank	NEW PALASIA BRANCH, 2/5, 3/5, GIRNAR TOWER, INDOR E, Madhya Pradesh - 452003, INDIA	B74282336
3	10212976	22/04/2010 *	1,500,000,000.00	UCO BANK	2/5, 3/5, GIRNAR TOWERS, NEW PALASIA, INDORE, Mad hya Pradesh - 452001, INDIA	A84180009

* 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.63.86
UK Pound	1	Rs.98.88
Euro	1	Rs.70.73

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	KIN
Report Prepared by :	PJA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10
PAID-UP CAPITAL	1~10
OPERATING SCALE	1~10
FINANCIAL CONDITION
--BUSINESS SCALE	1~10
--PROFITABILITY	1~10
--LIQUIDITY	1~10
--LEVERAGE	1~10
--RESERVES	1~10
--CREDIT LINES	1~10
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	Yes
--LITIGATION	YES/NO	Yes
--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	No
DEFAULTER
--RBI	YES/NO	No
--EPF	YES/NO	No
TOTAL

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 unfavorable 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.