MIRA INFORM REPORT

Report No. :	347775
Report Date :	04.11.2015

IDENTIFICATION DETAILS

Name :	RAJGARIA TIMBER PRIVATE LIMITED
Registered Office :	67/27, Strand Road, Kolkata-700006, West Bengal
Tel. No.:	91-33-22595855
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.11.2000
Com. Reg. No.:	21-092582
Capital Investment / Paid-up Capital :	Rs. 22.785 Million
CIN No.: [Company Identification No.]	U01121WB2000PTC092582
IEC No.:	0201012880
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCR8486M
Legal Form :	Private Limited Liability Company
Line of Business :	Importer and Supplier of Timber.
No. of Employees :	25 (Approximately)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. It was incorporated in the year 2000 and is engaged in the business as an importer and supplier of timber. As per financial of the year 2014, company has shown improvement in its operational performance by recording profit of Rs. 8.9 Million as compared to the loss of Rs. 26 million incurred from its previous year records. Further, rating also considers company’s acceptable financial risk profile supported by its adequate net worth base and low debt balance sheet profile of the company. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual 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	CRISIL
Rating	Long Term Bank Facilities=BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	26.05.2015
Rating Agency Name	CRISIL
Rating	Short Term Bank Facilities =A3
Rating Explanation	Moderate degree of safety and higher credit risk
Date	26.05.2015

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 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Pawan Kumar Rajgaria
Designation :	Director
Contact No.:	91-33-22595855
Date :	02.11.2015

LOCATIONS

Registered Office :	67/27, Strand Road, Kolkata-700006, West Bengal, India
Tel. No.:	91-33-22595855
Mobile No.:	91-9831046930 (Mr. Pawan Kumar Rajgaria)
Fax No.:	Not Available
E-Mail :	pawanrajgaria@yahoo.co.in

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Pawan Kumar Rajgaria
Designation :	Director
Address :	29B, Ramkrishna Samadhi Road, 2nd Floor, Karkurgachi, Kolkata-700054, West Bengal, India
Date of Birth/Age :	06.10.1968
Date of Appointment :	21.11.2000
PAN No.:	AEXPR1933A
DIN No.:	00710788
Name :	Mrs. Madhu Agarwal Rajgaria
Designation :	Director
Address :	29B, Ramkrishna Samadhi Road, Kakurgachi, Kolkata-700054, West Bengal, India
Date of Birth/Age :	21.09.1972
Date of Appointment :	04.07.2005
PAN No.:	ADEPR6094A
DIN No.:	02380409

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	47.00
Directors or relatives of directors	53.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Importer and Supplier of Timber.

Products :

ITC Code No.	Product Descriptions
43040020	Logs

Brand Names :

--

Agencies Held :

--

Exports :

Products :

--

Countries :

--

Imports :

Products :

Timber

Countries :

· Malaysia

· Switzerland

· Indonesia

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

OEMs and Manufacturer

Company Name:	Harshad Shamil Private Limited, Kolkata
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

25 (Approximately)

Bankers :

Bank Name:	State Bank of India
Branch:	Commercial Branch, N. S. Road, 8, N. S. Road, Kolkata - 700001, West Bengal, 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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Loans repayable on demand	0.201	0.000
SHORT TERM BORROWINGS
Loans repayable on demand from banks	153.489	138.342
Total	153.690	138.342

Banking Relations :	--
Auditors :
Name :	Ladia and Associates Chartered Accountants
Address :	14/6 Sovaram Bysack Street, Kolkata-700007, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	AAYPL5853A
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2,500,000	Equity Shares	Rs. 10/- each	Rs. 25.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,278,450	Equity Shares	Rs. 10/- each	Rs. 22.785 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	22.785	22.785	19.557
(b) Reserves & Surplus	256.927	249.089	240.032
(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)	279.712	271.874	259.589
(3) Non-Current Liabilities
(a) Long-term borrowings	0.201	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.173	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)	0.201	0.173	0.000
(4) Current Liabilities
(a) Short term borrowings	153.489	138.342	44.265
(b) Trade payables	585.266	645.160	356.836
(c) Other current liabilities	10.592	7.138	5.124
(d) Short-term provisions	1.517	0.000	4.308
Total Current Liabilities (4)	750.864	790.640	410.533
TOTAL	1030.777	1062.687	670.122
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	35.036	36.497	36.960
(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	0.000
(c) Deferred tax assets (net)	0.024	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	35.060	36.497	36.960
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	601.940	510.283	412.842
(c) Trade receivables	358.890	470.635	177.083
(d) Cash and cash equivalents	3.208	20.936	29.395
(e) Short-term loans and advances	31.679	24.336	13.842
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	995.717	1026.190	633.162
TOTAL	1030.777	1062.687	670.122

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Net Profit for the year	8.967	(26.706)	16.294
Provision for Income Tax	(1.326)	0.000	(4.300)
Deferred Tax Liability	0.197	(0.173)	0.000
Earlier year Adjustments	0.000	(1.186)	(0.415)
Balance b/f from Previous year	10.073	38.139	26.559
Balance carried to Balance Sheet	17.912	10.073	38.139

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt/Networth)	0.55	0.51	0.17
Current Ratio (Current Asset/Current Liability)	1.33	1.30	1.54

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	19.557	22.785	22.785
Reserves & Surplus	240.032	249.089	256.927
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	259.589	271.874	279.712
Long-term borrowings	0.000	0.000	0.201
Short term borrowings	44.265	138.342	153.489
Total borrowings	44.265	138.342	153.690
Debt/Equity ratio	0.171	0.509	0.549

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	Yes
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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	No
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	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10044054	09/02/2015 *	420,600,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, JEEVANDEEP, 1,MIDDLETON STREET , JEEVANDEEP BUILDING, 2ND FLOOR, KOLKATA- 700071, WEST BENGAL, INDIA	C43642388
2	80009942	13/02/2013 *	543,300,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, N. S. ROAD, 8, N. S. ROAD, KOLKATA- 700001, WEST BENGAL, INDIA	B70091566
3	80009943	30/01/2006 *	67,500,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH , N.S.ROAD, 8, N.S.ROAD, KOLKATA- 700001, WEST BENGAL, INDIA	-
4	80009944	10/08/2006 *	67,500,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, N. S. ROAD, 8, N. S. ROAD, KOLKATA- 700001, WEST BENGAL, INDIA	-

* Date of charge modification

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from 76/26 Strand Road, Kolkata- 700006, West Bengal, India to the present address w.e.f 20.10.2008

FIXED ASSETS:

Tangible Assets

· Land

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Other Equipments

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 records 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. 65.45
UK Pound	1	Rs. 100.96
Euro	1	Rs. 72.10

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	HNA
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

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