MIRA INFORM REPORT

Report No. :	322650
Report Date :	25.05.2015

IDENTIFICATION DETAILS

Name :	ARS STEELS AND ALLOY INTERNATIONAL PRIVATE LIMITED
Registered Office :	D-109, 4th Floor, LBR Complex, Chinthamani, Anna Nagar East, Chennai – 600102, Tamilnadu
Tel No.:	91-44-45606700
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.08.2013
Com. Reg. No.:	18-092689
Capital Investment / Paid-up Capital :	Rs.0.300 Million
CIN No.: [Company Identification No.]	U28123TN2013PTC092689
TIN No.:	Not Available
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 :	Manufacturers of TMT Bars and Power Generation.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

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 incorporated on 26^th August 2013, it is yet to commence its business operations. Ms. Kirithika, HR has provided information to us and she claimed that ARS group consist 3 companies “ARS Metal Private Limited”, “ARS Energy Private Limited” and “ARS Steel and Alloys International Private Limited. Out of this 3 companies the subject company got demerge from ARS Metal Private Limited which was started in the year 1993. Further she also claimed that demerger is still in process and once it get complete the subject company will start its business operations. As per the status in the registrar of companies business appears to be active. Payments are reported to be unknown. In view of recent establishment backed by absence of business operations, the company can be considered for business dealing 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

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 (GENERAL DETAILS)

Name :	Ms. Kirithika
Designation :	HR
Contact No.:	91-44-45606700
Date :	23.05.2015

LOCATIONS

Registered Office :	D-109, 4th Floor, LBR Complex, Chinthamani, Anna Nagar East, Chennai – 600102, Tamilnadu, India
Tel. No.:	91-44-45606700 Ex. 277 (8 Lines)
Fax No.:	91-44-43500597
E-Mail :	sushil@arsmetals.com careers@arsmetals.co.in arsmetals@gmail.com
Website :	http://www.arsmetals.co.in
Location :	Owned
Locality :	Commercial
Factory :	Udaykumar, B-1/S, SIPCOT Exports Promotion Industrial Park, Gummidipoondi, Thiruvallur District, Tamilnadu, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Ashwani Kumar

Designation :

Managing Director

Address :

B-4/50, Paschim Vihar, New Delhi - 110063, India

Date of Birth/Age :

19.09.1960

Date of Appointment :

26.08.2013

DIN No.:

00105523

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	U40100TN1990PTC032178	ARS ENERGY PRIVATE LIMITED	Managing director	01/01/2010	19/09/1990	-	Active	NO
2	U27101DL1998PTC091700	SAR ISPAT PRIVATE LIMITED	Director	14/08/2007	15/01/1998	18/01/2008	Active	NO
3	U45201DL2003PLC121065	LEADING ESTATES LIMITED	Director	25/06/2003	25/06/2003	10/03/2011	Active	NO
4	U92100TN2007PTC065038	REEL FACTORY MEDIA PRIVATE LIMITED	Director	05/03/2008	05/03/2008	06/03/2009	Active	NO
5	U65910DL1994PTC275668	NACHIKETA FINVEST PRIVATE LIMITED	Additional director	23/04/2009	23/04/2009	24/04/2009	Active	NO
6	U65910DL1993PTC052164	EAST DELHI LEASING PRIVATE LIMITED	Director	25/09/2009	01/07/2009	-	Active	NO
7	U65923DL1990PTC279460	BGS CREDIT PRIVATE LIMITED	Director	08/08/2009	08/08/2009	-	Active	NO
8	U70109DL2013PTC248463	LEADING REALTY PRIVATE LIMITED	Director	19/02/2013	19/02/2013	-	Active	NO
9	U28123TN2013PTC092689	ARS STEELS & ALLOY INTERNATIONAL PRIVATE LIMITED	Managing director	26/08/2013	26/08/2013	-	Active	NO
10	AAD-6324	AKBRNB VENTURES LLP	Designated Partner	26/03/2015	26/03/2015	-	Active	NO
1	U40100TN1990PTC032178	ARS ENERGY PRIVATE LIMITED	Managing director	01/01/2010	19/09/1990	-	Active	NO

Name :

Mr. Darshan Lal Bhatia

Designation :

Director

Address :

B-3.385, Paschim Vihar, New Delhi - 110063, India

Date of Birth/Age :

12.07.1940

Date of Appointment :

26.08.2013

DIN No.:

00106692

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	U27101DL1998PTC091700	SAR ISPAT PRIVATE LIMITED	Director	15/01/1998	15/01/1998	18/01/2008	Active	NO
2	U40100TN1990PTC032178	ARS ENERGY PRIVATE LIMITED	Director	01/06/2012	08/09/2008	-	Active	NO
3	U28123TN2013PTC092689	ARS STEELS & ALLOY INTERNATIONAL PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mr. Prem Dutt Bhatia

Designation :

Director

Address :

237, Ambica Vihar, Paschim Vihar, New Delhi - 110087, India

Date of Birth/Age :

16.08.1943

Date of Appointment :

26.08.2013

DIN No.:

00249331

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	U40100TN1990PTC032178	ARS ENERGY PRIVATE LIMITED	Director	10/12/1991	10/12/1991	-	Active	NO
2	U28123TN2013PTC092689	ARS STEELS & ALLOY INTERNATIONAL PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mr. Chinta Venkata Satya Narayana Murthy

Designation :

Director

Address :

No. 31, 9th Street, Vivekananda Nagar,, Gummidipoondi - 601201, Tamil Nadu, India

Date of Birth/Age :

13.07.1966

Date of Appointment :

26.08.2013

DIN No.:

00496576

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	U40100TN1990PTC032178	ARS ENERGY PRIVATE LIMITED	Whole-time director	01/01/2010	01/11/2005	27/01/2015	Active	NO
2	U28123TN2013PTC092689	ARS STEELS & ALLOY INTERNATIONAL PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mr. Rajesh Bhatia

Designation :

Director

Address :

B-4.50, Paschim Vihar, Delhi - 110063, India

Date of Birth/Age :

09.07.1988

Date of Appointment :

26.08.2013

DIN No.:

02564103

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	U45201DL2003PLC121065	LEADING ESTATES LIMITED	Director	26/09/2009	01/07/2009	-	Active	NO
2	U40100TN1990PTC032178	ARS ENERGY PRIVATE LIMITED	Whole-time director	06/07/2009	06/07/2009	-	Active	NO
3	U51909DL2010PTC273641	RS VINCOM PRIVATE LIMITED	Director	29/09/2012	01/04/2012	-	Active	NO
4	U51909DL2010PTC273643	SR VINCOM PRIVATE LIMITED	Director	29/09/2012	01/04/2012	-	Active	NO
5	U51909DL2009PTC273642	KING MERCHANDISE PRIVATE LIMITED	Director	29/09/2012	01/04/2012	-	Active	NO
6	U28123TN2013PTC092689	ARS STEELS & ALLOY INTERNATIONAL PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Kirithika
Designation :	HR

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Ashwani Kumar	10000
Renu Bhatia	10000
Rajesh Bhatia	10000
Total	30000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers of TMT Bars and Power Generation.
Products :	TMT Bars and Power Generation
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

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
Remark :	Not Divulged

Customers :

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
Remark :	Not Divulged

No. of Employees :

100 (Approximately)

Bankers :

· Indian Overseas Bank, 4th Main Road,, Anna Nagar, Chennai - 600040, Tamilnadu, India

· Canara Bank, 770, Anna Salai, Spencer Towers-I, Chennai - 600002, Tamilnadu, India

· Oriental Bank Of Commerce, Padma Complex, No.467, Anna Salai Overseas Branch, Chennai - 600001, Tamilnadu, India

Auditors :
Name :	A. Krishnamoorthy and Company Chartered accountants
Address :	No. 43, Old No. 16/3, Ramaswamy Street, T. Nagar, Chennai – 600017, Tamilnadu, India
Tel. No.:	91-44-24347260 / 24340074
PAN No.:	AGHPK4186E
Memberships :	--
Collaborators :	--
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

After 31.03.2014

Authorised Capital : Rs.150.000

Issued, Subscribed & Paid-up Capital : Rs.81.924 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	Rs.10/- each	Rs.0.300 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.300
(b) Reserves & Surplus	0.000
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	0.300
(3) Non-Current Liabilities
(a) long-term borrowings	1.500
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	1.500
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.000
(c) Other current liabilities	0.188
(d) Short-term provisions	0.000
Total Current Liabilities (4)	0.188
TOTAL	1.988
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.404
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.185
Total Non-Current Assets	0.589
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	1.399
(d) Cash and cash equivalents	0.000
(e) Short-term loans and advances	0.000
(f) Other current assets	0.000
Total Current Assets	1.399
TOTAL	1.988

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

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

KEY RATIOS

PARTICULARS	31.03.2014
Debt Equity Ratio (Total Debt /Networth)	5.00
Current Ratio (Current Asset/Current Liability)	7.44

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	No
27	Reasons for variation <> 20%	----------
28	Estimation for coming financial year	No
29	Profitability for last three years	No
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

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million
LONG TERM BORROWINGS
From Related Parties
Ashwani Kumar Bhatia	1.500
Total	1.500

FINANCIAL RESULTS

The company was incorporated on 26.08.2013. The company is in the process of starting their business post demerger which is in process.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10566224	09/04/2015	95,800,000.00	INDIAN OVERSEAS BANK	4TH MAIN ROAD,, ANNA NAGAR, CHENNAI, TAMIL NADU - 600040, INDIA	C52054954
2	10567039	09/04/2015	110,000,000.00	CANARA BANK	770, ANNA SALAI, SPENCER TOWERS-I, CHENNAI, TAMIL  NADU - 600002, INDIA	C52430493
3	10567183	09/04/2015	1,350,000,000.00	CANARA BANK	770, ANNA SALAI, SPENCER TOWERS-I, CHENNAI, TAMIL  NADU - 600002, INDIA	C52429800
4	10565643	17/03/2015	16,332,840.00	ORIENTAL BANK OF COMMERCE	PADMA COMPLEX, NO.467,, ANNA SALAI OVERSEAS BRANCH,, CHENNAI, TAMIL NADU - 600001, INDIA	C51133841
5	10565523	17/03/2015	38,336,717.00	ORIENTAL BANK OF COMMERCE	PADMA COMPLEX, NO.467, ANNA SALAI,, OVERSEAS BRANCH,, CHENNAI, TAMIL NADU - 600001, INDIA	C51132884

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.63.57
UK Pound	1	Rs.99.67
Euro	1	Rs.70.83

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	DIV
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		12

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.