MIRA INFORM REPORT

Report No. :	343156
Report Date :	01.10.2015

IDENTIFICATION DETAILS

Name :	BENGAL INDIA GLOBAL INFRASTRUCTURE LIMITED
Registered Office :	Elegant Towers, 224A, A.J.C. Bose Road, Kolkata – 700017, West Bengal
Tel. No.:	91-33-22895160
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.08.2002
Com. Reg. No.:	21-095018
Capital Investment / Paid-up Capital :	Rs. 108.124 Million
CIN No.: [Company Identification No.]	U70101WB2002PLC095018
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALB09061D
PAN No.: [Permanent Account No.]	AACCB2308K
Legal Form :	A Closely held public limited liability company
Line of Business :	Subject is engaged in trading of Iron and Steel Products.
No. of Employees :	Not Divulged

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 :	Activities under suspension
Payment Behaviour :	--
Litigation :	--
Comments :	Subject is a part of “SPS Group" Kolkata promoted by Shri Bipin Kr. Vohra and Shri Arjun Kr. Santhalia, is primarily engaged in trading of Iron and Steel material and allied products. The sales and other income of company for the year 2014 was Rs.203.900 Million compared to Rs.22616.900 Million during the previous year 2013. The company has incurred loss of Rs.87.300 Million as against loss of Rs.537.400 Million in the previous year. As per the Director report-2014, the business activities were under suspension, further it was confirmed by the management of the company, consequently the losses are mainly attributed to interest charged and fixed overhead incurred by the company. The company has proposed for turnaround to the lender banks as however, in the pretext of the loan account slipped into in NPA category, none of the bank in spite assurances have extended the need based financial support or relief and concessions to the company. Moreover, few lender banks have issued notice u/s 13(2) of Securitization and Reconstruction of Assets and Security Interest Act 2002. The company is contemplating to explore possibilities of One Time Settlement under mutual understanding with the lenders bank. In view of poor financial base, the company cannot be considered for business dealings. Note: As per our Investigation defaulted hefty amount Allahabad Bank, Andhra Bank, Central Bank of India

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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name has been found enlisted as a defaulter in the publicly available RBI Defaulters’ list and the details of the same are as under :

Suit-filed accounts of Rs. 10.000 Million and Above

Bank	Branch	Quarter	Borrower Name	Directors Name	Amount
Allhabad Bank	IFB Kolkata	30.06.2015	Bengal India Global Infrastructure Limited	Sri Bipin Kr. Vohra, Sri Arjun Kr. Santhalia, Smt. Sanjukta Vohra	Rs. 480.344 Million
Andhra Bank	Kolkata	30.09.2014	Bengal India Global Infrastructure Limited	Sri Bipin Kr. Vohra, Sri Arjun Kr. Santhalia, Smt. Sanjukta Vohra	Rs. 583.500 Million
Andhra Bank	Kolkata	31.12.2014	Bengal India Global Infrastructure Limited	Sri Bipin Kr. Vohra, Sri Arjun Kr. Santhalia, Smt. Sanjukta Vohra	Rs. 583.500 Million
Andhra Bank	Kolkata	31.03.2015	Bengal India Global Infrastructure Limited	Sri Bipin Kr. Vohra, Sri Arjun Kr. Santhalia, Smt. Sanjukta Vohra	Rs. 583.500 Million
Andhra Bank	Kolkata	30.06.2015	Bengal India Global Infrastructure Limited	Sri Bipin Kr. Vohra, Sri Arjun Kr. Santhalia, Smt. Sanjukta Vohra	Rs. 583.500 Million

Suit-filed accounts (Willful Defaulter) of Rs. 2.500 Million and Above

Bank	Branch	Quarter	Borrower Name	Directors Name	Amount
Central Bank of India	Corporate Finance Branch	31.03.2014	Bengal India Global Infrastructure Limited	Sri Bipin Kr. Vohra, Sri Arjun Kr. Santhalia, Smt. Sanjukta Vohra	Rs. 1390.600 Million

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

INFORMATION DENIED BY

Name :	Mr. Rathin Sarkar
Designation :	Finance Department
Contact No.:	91-33-22895160
Date :	29.09.2015

LOCATIONS

Registered Office :	Elegant Towers, 224A, A.J.C. Bose Road, Kolkata – 700017, West Bengal, India
Tel. No.:	91-33-22895160
Fax No.:	91-33-22894386
E-Mail :	a.upadhyay@spsgroup.co.in

DIRECTORS

As on 30.09.2014

Name :

Mr. Bipin Kumar Vohra

Designation :

Managing Director

Address :

135 G, S P Mukherjee Road, Kolkata – 700026, West Bengal, India

Date of Birth/Age :

25.03.1962

Date of Appointment :

01.12.2013

PAN No.:

ABSPV5885B

DIN No.:

00276567

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	U27104WB1990PLC049475	S P S METAL CAST & ALLOYS LIMITED	Director	11/12/2009	29/01/1994	-	Active	NO
2	L51909WB1981PLC034409	SPS STEELS ROLLING MILLS LIMITED	Managing director	01/01/2013	20/05/1998	-	Active	NO
3	U70101WB1986PTC041455	IQ CITY INFRASTRUCTURE PRIVATE LIMITED	Director	27/06/1998	27/06/1998	06/02/2013	Active	NO
4	U51909WB1995PLC072045	CONCAST STEEL & POWER LIMITED	Director	15/07/2009	02/01/1999	16/11/2010	Active	NO
5	U74899DL2001PLC105512	T T RAIL LINKS LIMITED	Director	29/03/2001	29/03/2001	-	Active	NO
6	U51506WB2000PTC091537	BENGAL RECYCLERS & FABRICATORS PRIVATE LIMITED	Director	14/09/2001	14/09/2001	-	Active	NO
7	U70101WB2002PLC095018	BENGAL INDIA GLOBAL INFRASTRUCTURE LIMITED	Managing director	01/12/2013	24/09/2002	-	Active	NO
8	U27109WB2003PLC096537	SPS STEELS LIMITED	Director	07/07/2003	07/07/2003	-	Active	NO
9	U51909WB1995PTC073626	TECHMART BROKING COMPANY PVT.LTD.	Director	18/11/2003	18/11/2003	-	Active	NO
10	U51909WB1995PTC073585	CHEKSONS BROKING COMPANY PVT.LTD.	Director	18/11/2003	18/11/2003	-	Active	NO
11	U27109WB2004PLC099098	SPS MORTEX FERRO ALLOYS LIMITED	Director	13/07/2004	13/07/2004	-	Active	NO
12	U70101WB1989PTC047920	NEERAJ ESTATES PVT LTD	Director	15/10/2004	15/10/2004	06/12/2012	Active	NO
13	U55101WB2001PTC093671	RENAISSANCE RESORTS & ENTERTAINMENT PRIVATE LIMITED	Director	15/10/2004	15/10/2004	-	Active	NO
14	U70101WB2004PLC100429	KIT SPS REAL ESTATE DEVELOPMENT LIMITED	Director	17/11/2004	17/11/2004	-	Active	NO
15	U32303WB2005PLC101343	SPS ARTS AND ENTERTAINMENT LIMITED	Director	25/01/2005	25/01/2005	-	Active	NO
16	U55101WB1964PTC026234	RUTT DEEN PVT LTD	Director	22/05/2006	22/05/2006	31/05/2014	Active	NO
17	U27109OR1992PTC003046	PAWANSUT SPONGE PRIVATE LIMITED	Director	22/03/2007	22/03/2007	-	Amalgamated	NO
18	U15412WB1982PTC035374	BAKEFRESH BISCUITS PRIVATE LIMITED	Director	05/05/2007	05/05/2007	14/05/2008	Active	NO
19	L27201WB1961PLC025269	INDO AMERICAN ELECTRICALS LTD	Director	30/09/2013	27/07/2007	-	Active	NO
20	U63040WB2007PTC117887	SPS TOURS & HOTELS PRIVATE LIMITED	Director	17/08/2007	17/08/2007	-	Active	NO
21	U17119WB1995PLC180759	SURAJ FABRICS INDUSTRIES LIMITED	Director	29/09/2007	28/08/2007	-	Active	NO
22	U51109WB1996PTC082061	AFTEK TRADERS PRIVATE LIMITED	Director	20/07/2012	26/02/2008	01/01/2013	Active	NO
23	U45400WB2008PTC125370	SUMEDHA PROJECTS PRIVATE LIMITED.	Director	02/05/2008	02/05/2008	06/12/2012	Active	NO
24	U80302WB2008PTC125484	INKNOWERSITY EDUCATION Private Limited	Director	08/05/2008	08/05/2008	26/03/2014	Active	NO
25	U74920OR1999PTC005980	DARKS SECURITY CONSULTANT PRIVATE LIMITED	Director	30/09/2009	03/03/2009	30/06/2014	Active	NO
26	U40300WB2010PTC150517	SPS SYNERGY SOLAR Private Limited	Director	17/06/2010	17/06/2010	28/03/2014	Active	NO
27	U70109WB2006PTC165835	FABWORTH PROMOTERS PRIVATE LIMITED	Director	19/08/2010	19/08/2010	02/05/2013	Active	NO
28	U27100WB2011PLC158285	SPS ISPAT AND POWER LIMITED	Director	31/07/2012	01/02/2011	-	Active	NO
29	U61200WB2011PLC160729	SPS SHIPPING LIMITED	Director	14/09/2012	15/03/2011	-	Active	NO
30	U51900WB1985PTC132208	ROLEX COMMERCIAL COMPANY Private Limited	Director	16/06/2011	16/06/2011	-	Active	NO
31	U65910WB1997PTC129992	SAMSKAR FINANCIAL SERVICES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	12/12/2012	Active	NO
32	U52100WB2010PTC147651	EKAATMAA SALES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	09/04/2013	Active	NO
33	U52190WB2010PTC145359	AADIDEVAH VINCOM PRIVATE LIMITED	Director	16/06/2011	16/06/2011	09/04/2013	Active	NO
34	U70100WB2010PTC140824	SOUTH CITY BELAIR PROPERTY MANAGEMENT PRIVATE LIMITED	Director	28/09/2012	18/07/2011	31/07/2014	Active	NO
35	U55101OR1980PLC000874	ASHOKA INDUSTRIES LIMITED	Director	30/09/2011	06/09/2011	13/11/2012	Active	NO
36	U45400WB2011PTC168329	HIGHLIFE REALCON PRIVATE LIMITED	Director	02/12/2011	02/12/2011	24/03/2014	Active	NO
37	U27109WB2006PTC111779	SHRIRAMRATHI STEELS PRIVATE LIMITED	Director	21/03/2012	21/03/2012	-	Active	NO
38	U72900WB2003PTC096955	JAI BALAJI INFOTECH PRIVATE LIMITED	Additional director	06/06/2012	06/06/2012	16/09/2013	Active	NO
39	U52100WB2010PTC145874	BALAPRADA TRACOM PRIVATE LIMITED	Director	07/01/2013	07/01/2013	-	Active	NO
40	U52190WB2010PTC145370	AARYA VINTRADE PRIVATE LIMITED	Director	07/01/2013	07/01/2013	-	Active	NO
41	U74900WB2013PTC190486	VERIDIAN RESORTS & CLUB PRIVATE LIMITED	Director	11/02/2013	11/02/2013	-	Active	NO

Name :

Mr. Arjun Kumar Santhalia

Designation :

Director

Address :

10, Sunny Park, Kolkata – 700019, West Bengal, India

Date of Birth/Age :

28.07.1953

Date of Appointment :

01.02.2010

PAN No.:

ALVPS6608N

DIN No.:

00601236

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	U27104WB1990PLC049475	S P S METAL CAST & ALLOYS LIMITED	Managing director	13/01/2013	02/08/1993	-	Active	NO
2	L51909WB1981PLC034409	SPS STEELS ROLLING MILLS LIMITED	Director	10/12/2009	22/07/1998	-	Active	NO
3	U51909WB1995PLC072045	CONCAST STEEL & POWER LIMITED	Director	02/01/1999	02/01/1999	16/11/2010	Active	NO
4	U51506WB2000PTC091537	BENGAL RECYCLERS & FABRICATORS PRIVATE LIMITED	Director	14/09/2001	14/09/2001	-	Active	NO
5	U27109WB2003PLC096537	SPS STEELS LIMITED	Director	07/07/2003	07/07/2003	-	Active	NO
6	U27109WB2004PLC099098	SPS MORTEX FERRO ALLOYS LIMITED	Director	13/07/2004	13/07/2004	-	Active	NO
7	U70101WB2004PLC100429	KIT SPS REAL ESTATE DEVELOPMENT LIMITED	Director	17/11/2004	17/11/2004	-	Active	NO
8	U32303WB2005PLC101343	SPS ARTS & ENTERTAINMENT LIMITED	Director	25/01/2005	25/01/2005	-	Active	NO
9	U70101WB2002PLC095018	BENGAL INDIA GLOBAL INFRASTRUCTURE LIMITED	Director	01/02/2010	23/09/2005	-	Active	NO
10	U70101WB1986PTC041455	IQ CITY INFRASTRUCTURE PRIVATE LIMITED	Director	22/12/2006	22/12/2006	06/02/2013	Active	NO
11	U27109OR1992PTC003046	PAWANSUT SPONGE PRIVATE LIMITED	Director	25/03/2008	22/03/2007	-	Amalgamated	NO
12	L27201WB1961PLC025269	INDO AMERICAN ELECTRICALS LTD	Director	30/09/2013	27/07/2007	-	Active	NO
13	U63040WB2007PTC117887	SPS TOURS & HOTELS PRIVATE LIMITED	Director	17/08/2007	17/08/2007	-	Active	NO
14	U27109WB2004PTC098368	RITIKA STEEL INDUSTRIES PRIVATE LIMITED	Director	01/11/2007	01/11/2007	21/11/2007	Active	NO
15	U51109WB1996PTC082061	AFTEK TRADERS PRIVATE LIMITED	Director	05/12/2013	26/02/2008	10/10/2014	Active	NO
16	U17119WB1995PLC180759	SURAJ FABRICS INDUSTRIES LIMITED	Managing director	01/02/2014	12/11/2008	-	Active	NO
17	U40300WB2010PTC150517	SPS SYNERGY SOLAR Private Limited	Director	17/06/2010	17/06/2010	31/05/2014	Active	NO
18	U27100WB2011PLC158285	SPS ISPAT & POWER LIMITED	Director	31/07/2012	01/02/2011	-	Active	NO
19	U61200WB2011PLC160729	SPS SHIPPING LIMITED	Director	14/09/2012	15/03/2011	-	Active	NO
20	U15122WB2011PTC161138	R S UNIAGRO PRIVATE LIMITED	Director	24/03/2011	24/03/2011	05/02/2014	Active	NO
21	U45209WB1994PTC066375	INCENTS CONSULTANTS PVT. LTD.	Director	16/06/2011	16/06/2011	12/12/2012	Active	NO
22	U52190WB2010PTC146725	DAYA COMMOSALES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	08/04/2013	Active	NO
23	U52100WB2010PTC145920	BHADRAKAALI SALES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	08/04/2013	Active	NO
24	U51900WB1985PTC132208	ROLEX COMMERCIAL COMPANY Private Limited	Director	16/06/2011	16/06/2011	-	Active	NO
25	U52100WB2010PTC145874	BALAPRADA TRACOM PRIVATE LIMITED	Director	18/06/2011	18/06/2011	-	Active	NO
26	U52190WB2010PTC145370	AARYA VINTRADE PRIVATE LIMITED	Director	18/06/2011	18/06/2011	-	Active	NO
27	U55101OR1980PLC000874	ASHOKA INDUSTRIES LIMITED	Director	30/09/2011	06/09/2011	13/11/2012	Active	NO
28	U27109WB2006PTC111779	SHRIRAMRATHI STEELS PRIVATE LIMITED	Director	21/03/2012	21/03/2012	-	Active	NO

Name :

Ms. Sanjukta Vohra

Designation :

Director

Address :

135 G, S P Mukherjee Road, Kolkata – 700026, West Bengal, India

Date of Birth :

21.11.1962

Date of Appointment :

23.09.2005

PAN No.:

ADFPV5974L

DIN No.:

00276657

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	U51109WB1996PTC082061	AFTEK TRADERS PRIVATE LIMITED	Director	20/07/2012	01/07/1998	01/01/2013	Active	NO
2	U74920OR1999PTC005980	DARKS SECURITY CONSULTANT PRIVATE LIMITED	Director	01/12/1999	01/12/1999	30/06/2014	Active	NO
3	U74899DL2001PLC105512	T T RAIL LINKS LIMITED	Director	29/03/2001	29/03/2001	-	Active	NO
4	U55101WB2001PTC093671	RENAISSANCE RESORTS & ENTERTAINMENT PRIVATE LIMITED	Director	05/12/2003	05/12/2003	-	Active	NO
5	U70101WB1989PTC047920	NEERAJ ESTATES PVT LTD	Director	15/10/2004	15/10/2004	06/12/2012	Active	NO
6	U51909WB1995PTC073626	TECHMART BROKING COMPANY PVT.LTD.	Director	10/08/2005	10/08/2005	-	Active	NO
7	U51909WB1995PTC073585	CHEKSONS BROKING COMPANY PVT.LTD.	Director	10/08/2005	10/08/2005	-	Active	NO
8	U27109WB2004PLC099098	SPS MORTEX FERRO ALLOYS LIMITED	Director	23/09/2005	23/09/2005	-	Active	NO
9	U70101WB2002PLC095018	BENGAL INDIA GLOBAL INFRASTRUCTURE LIMITED	Director	23/09/2005	23/09/2005	-	Active	NO
10	U55101WB1964PTC026234	RUTT DEEN PVT LTD	Director	22/05/2006	22/05/2006	31/05/2014	Active	NO
11	U51909WB1995PLC072045	CONCAST STEEL & POWER LIMITED	Director	31/05/2006	31/05/2006	16/11/2010	Active	NO
12	U27104WB1990PLC049475	S P S METAL CAST & ALLOYS LIMITED	Director	31/05/2006	31/05/2006	20/06/2013	Active	NO
13	U70101WB1986PTC041455	IQ CITY INFRASTRUCTURE PRIVATE LIMITED	Director	31/05/2006	31/05/2006	06/02/2013	Active	NO
14	U70101WB2004PLC100429	KIT SPS REAL ESTATE DEVELOPMENT LIMITED	Director	31/05/2006	31/05/2006	-	Active	NO
15	U27109WB2003PLC096537	SPS STEELS LIMITED	Director	31/05/2006	31/05/2006	-	Active	NO
16	U32303WB2005PLC101343	SPS ARTS & ENTERTAINMENT LIMITED	Director	31/05/2006	31/05/2006	-	Active	NO
17	L51909WB1981PLC034409	SPS STEELS ROLLING MILLS LIMITED	Director	31/05/2006	31/05/2006	01/07/2013	Active	NO
18	L27201WB1961PLC025269	INDO AMERICAN ELECTRICALS LTD	Director appointed in casual vacancy	17/04/2015	27/07/2007	-	Active	NO
19	U63040WB2007PTC117887	SPS TOURS & HOTELS PRIVATE LIMITED	Director	17/08/2007	17/08/2007	-	Active	NO
20	U45400WB2008PTC125370	SUMEDHA PROJECTS PRIVATE LIMITED.	Director	02/05/2008	02/05/2008	06/12/2012	Active	NO
21	U17119WB1995PLC180759	SURAJ FABRICS INDUSTRIES LIMITED	Director	30/09/2010	18/08/2009	-	Active	NO
22	U40300WB2010PTC150517	SPS SYNERGY SOLAR Private Limited	Director	17/06/2010	17/06/2010	31/05/2014	Active	NO
23	U27100WB2011PLC158285	SPS ISPAT & POWER LIMITED	Director	31/07/2012	01/02/2011	-	Active	NO
24	U61200WB2011PLC160729	SPS SHIPPING LIMITED	Director	14/09/2012	15/03/2011	-	Active	NO
25	U15122WB2011PTC161138	R S UNIAGRO PRIVATE LIMITED	Director	24/03/2011	24/03/2011	05/06/2012	Active	NO
26	U52190WB2010PTC145359	AADIDEVAH VINCOM PRIVATE LIMITED	Director	16/06/2011	16/06/2011	09/04/2013	Active	NO
27	U65922WB1995PTC124678	S.L.N. Finance & Leasing Private Limited	Director	16/06/2011	16/06/2011	12/12/2012	Active	NO
28	U65910WB1997PTC129992	SAMSKAR FINANCIAL SERVICES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	12/12/2012	Active	NO
29	U52100WB2010PTC147651	EKAATMAA SALES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	09/04/2013	Active	NO
30	U52100WB2010PTC146870	CHITTARUPA SALES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	08/04/2013	Active	NO
31	U52190WB2010PTC146723	CHAAMUNDA COMMOSALES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	08/04/2013	Active	NO
32	U52100WB2010PTC145874	BALAPRADA TRACOM PRIVATE LIMITED	Director	18/06/2011	18/06/2011	-	Active	NO
33	U52190WB2010PTC145370	AARYA VINTRADE PRIVATE LIMITED	Director	18/06/2011	18/06/2011	-	Active	NO
34	U55101OR1980PLC000874	ASHOKA INDUSTRIES LIMITED	Director	30/09/2011	06/09/2011	13/11/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Bipin Kumr Vohra	100
Arjun Kumar Santhalia	100
Sumanta Bhattacharjee	10000
Sanjukta Vohra	100
Shashi Santhalia	100
Piyali Bhattacharjee	20000
Cheksons Broking Company Private Limited, India	1700000
Techmart Broking Company Private Limited, India	1902000
Neeraj Estates Private Limited, India	1925000
Sumedha Projects Private Limited, India	1885000
T T Rail Links Limited, India	1687000
SPS Arts and Entertainment Limited, India	1683000
Total	10812400

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	99.72
Directors or relatives of Directors	0.28
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in trading of Iron and Steel Products.
Products :	TMT Bars Steel Flats Rounds Joists Iron Ore Sponge Iron Pig Iron
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

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 :

Not Divulged

Bankers :

· UCO Bank, Flagship Corporate Branch, 3, N S Road, Kolkata – 700 001, West Bengal, India

· Allahabad Bank, Industrial Finance Branch, 17, R.N. Mukherjee Road, 4^th Floor, Kolkata – 700001, West Bengal, India

· Central Bank of India, Corporate Finance Branch, Kolkata, 33, Netaji Subhas Road, Kolkata – 700001, West Bengal, India

· Bank of Baroda, CAMAC Street Branch, 3B CAMAC Street, Kolkata – 700016, West Bengal, India

· Corporation Bank, Corporate Banking /Branch, 17, Brabourne Branch, Kolkata – 700001, West Bengal, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee term loans from banks	0.000	18.704
SHORT TERM BORROWING
Working capital loans from banks	5584.083	5177.335
Total	5584.083	5196.039

Note:

Term Loan from Bank carries floating interest @ Base Rate plus 2.9 % i.e, present effective 13.50% p.a. and is repayable in 3 equal monthly instalments beginning from April, 2013.

Banking Relations :	--
Auditors :
Name :	R. Dugar and Associates Chartered Accountants
Address :	21F Deodhar Street, Kolkata – 700019, West Bengal, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAMFR2935F
Memberships :	--
Collaborators :	--
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Aftek Traders Private Limited, India CIN No.: U51109WB1996PTC082061 Bengal Recyclers and Fabricators Private Limited, India CIN No.: U51506WB2000PTC091537 Cheksons Broking Company Private Limited, India CIN No.: U51909WB1995PTC073585 Indo-American Electricals Limited, India CIN No.: L27201WB1961PLC025269 Neeraj Estates Private Limited, India CIN No.: U70101WB1989PTC047920 Shriramrathi Steels Private Limited, India CIN No.: U27109WB2006PTC111779 SPS Metal Cast and Alloys Limited, India CIN No.: U27104WB1990PLC049475 SPS Mortex Ferro Alloys Limited, India CIN No.: U27109WB2004PLC099098 SPS Steels Limited, India CIN No.: U27109WB2003PLC096537 SPS Steels Rolling Mills Limited, India CIN No.: L51909WB1981PLC034409 SPS Tours and Hotels Private Limited, India CIN No.: U63040WB2007PTC117887 Suraj Fabrics Industries Limited, India CIN No.: U17119WB1995PLC180759 Techmart Broking Company Private Limited, India CIN No.: U51909WB1995PTC073626 Darks Security Consultant Private Limited, India CIN No.: U74920OR1999PTC005980 Rolex Commercial Company Limited, India CIN No.: U51900WB1985PTC132208 Rutt Deen Private Limited, India CIN No.: U55101WB1964PTC026234

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs. 200.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10812400	Equity Shares	Rs.10/- each	Rs. 108.124 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	108.124	108.124	108.124
(b) Reserves & Surplus	575.891	663.225	1200.582
(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)	684.015	771.349	1308.706
(3) Non-Current Liabilities
(a) long-term borrowings	1650.000	1668.704	2215.830
(b) Deferred tax liabilities (Net)	(19.074)	(23.452)	0.392
(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)	1630.926	1645.252	2216.222
(4) Current Liabilities
(a) Short term borrowings	5584.083	5177.335	1963.501
(b) Trade payables	5556.343	6560.122	5007.786
(c) Other current liabilities	894.522	914.938	203.974
(d) Short-term provisions	0.000	0.000	27.420
Total Current Liabilities (4)	12034.948	12652.395	7202.681
TOTAL	14349.889	15068.996	10727.609
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.191	0.801	1.409
(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)	0.000	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	0.191	0.801	1.409
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	1209.555
(c) Trade receivables	13867.122	14577.958	7482.771
(d) Cash and cash equivalents	5.118	155.825	1740.046
(e) Short-term loans and advances	477.458	334.412	248.169
(f) Other current assets	0.000	0.000	45.659
Total Current Assets	14349.698	15068.195	10726.200
TOTAL	14349.889	15068.996	10727.609

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	203.367	22505.025	27108.379
	Other Income	0.491	111.893	70.083
	TOTAL (A)	203.858	22616.918	27178.462
Less	EXPENSES
	Purchases of Stock-in-Trade	203.367	20815.686	26735.093
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	1209.555	(467.739)
	Employees benefits expense	0.810	3.017	4.214
	Other expenses	2.638	246.853	413.724
	TOTAL (B)	206.815	22275.111	26685.292
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	(2.957)	341.807	493.170
Less	FINANCIAL EXPENSES (D)	79.387	887.625	484.890
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(82.344)	(545.818)	8.280
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.611	0.617	0.613
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(82.955)	(546.435)	7.667
Less	TAX (H)	4.378	(9.078)	3.972
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(87.333)	(537.357)	3.695
	CIF VALUE OF IMPORTS	NA	552.391	179.524
	Earnings / (Loss) Per Share (Rs.)	(8.08)	(49.7)	0.34

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	507.871	553.271	57.506
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(493.299)	(473032)	(3186.395)
Net cash flows from (used in) operating activities	(414.452)	(3970.953)	(2794.871)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(42.94)	(2.39)	0.01
Operating Profit Margin (PBIDT/Sales)	(%)	(1.45)	1.52	1.82
Return on Total Assets (PBT/Total Assets}	(%)	(0.58)	(3.63)	0.07
Return on Investment (ROI) (PBT/Networth)		(0.12)	(0.71)	0.01
Debt Equity Ratio (Total Debt /Networth)		10.58	8.88	3.19
Current Ratio (Current Asset/Current Liability)		1.19	1.19	1.49

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	108.124	108.124	108.124
Reserves & Surplus	1200.582	663.225	575.891
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1308.706	771.349	684.015
long-term borrowings	2215.830	1668.704	1650.000
Short term borrowings	1963.501	5177.335	5584.083
Current maturities of long-term debts	57.506	553.271	507.871
Total borrowings	4236.837	7399.310	7741.954
Debt/Equity ratio	3.237	9.593	11.318

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	27108.379	22505.025	203.367
		(16.981)	(99.096)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	27108.379	22505.025	203.367
Profit	3.695	(537.357)	(87.333)
	0.01%	(2.39%)	(42.94%)

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)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
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	No
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	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from 68 A Ballygunge Circular Road, Becbagan, Kolkata – 700019, West Bengal, India to the present address w.e.f. 18.05.2011

PERFORMANCE REVIEW

The sales and other income of the company for the year was Rs. 203.900 Million compared to Rs. 22616.900 Million during the previous year. The company has incurred loss of Rs. 87.300 Million as against loss of Rs. 537.400 Million in the previous year.

During the year, the business activities were under suspension, consequently, the losses are mainly attributed to interest charge and fixed overheads incurred by the company.

The company has submitted Proposal for Turnaround to the lender banks. However, in the pretext of the loan accounts slipped into in NPA category, none of the lender banks in spite of assurances have extended the need based financial support and / or relief and concessions to the company. During the year, the company has filed recovery suits of about Rs. 960 crore plus interest against certain debtors, under charge of the lender banks. However, the steps taken by the company towards recovery of old / sticky receivable could not make any headway. Discontinuations of further supplies have adversely affected the possibilities of revival under amicable understanding.

Few lender banks have issued notices u/s 13(2) of Securitization and Reconstruction of Assets and Security Interest Act, 2002. The Company has filed the objections and is suitably defending the recovery action initiated by the banks. The company has filed a claim of Rs. 5580.000 Million against Allahabad Bank for deficiency in services. The company is contemplating to explore possibilities of One Time Settlement under mutual understanding with the lender banks.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loans from others	1650.000	1650.000
Total	1650.000	1650.000

Note :

Unsecured Loan from bodies corporate are interest free and are repayable after 31^st March, 2015.

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10349094	30/03/2012	500,000,000.00	UNITED BANK OF INDIA	CORPORATE FINANCE BRANCH, KOLKATA,, 11, HEMANTA BASU SARANI,, KOLKATA, West Bengal - 700001, INDIA	B37381712
2	10336649	09/04/2013 *	600,000,000.00	Corporation Bank	corporate banking branch, 17, Brabourne Road, Kolkata, West Bengal - 700001, INDIA	B76268879
3	10316911	12/05/2012 *	6,500,000,000.00	CENTRAL BANK OF INDIA (LEAD BANK)	Corporate Finance Branch, Kolkata, 33, Netaji Subhas Road, Kolkata, West Bengal - 700001, INDIA	B40878142
4	10184956	22/03/2013 *	480,000,000.00	ANDHRA BANK	KOLKATA MAIN BRANCH, 14/1B, EZRA STREET, KOLKATA,  West Bengal - 700001, INDIA	B75358796
5	10169280	12/04/2011 *	620,000,000.00	ALLAHABAD BANK	INDUSTRIAL FINANCE BRANCH, 17, R. N. MUKHERJEE ROAD, 4TH FLOOR, KOLKATA, West Bengal - 700001, INDI  A	B11917762
6	10113742	23/03/2013 *	400,000,000.00	UNION BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, 1/1 CAMAC STREET, KOLKATA, West Bengal - 700016, INDIA	B72546625
7	10110107	22/06/2009 *	1,150,000,000.00	UCO BANK	FLAGSHIP CORPORATE BRANCH, 3, N.S. ROAD, KOLKATA,  West Bengal - 700001, INDIA	A67045955
8	10069430	26/03/2014 *	1,000,000,000.00	Edelweiss Asset Reconstruction Company Limited	Edelweiss House, Off. C.S.T Road,, Kalina,, Mumbai, Maharashtra - 400098, INDIA	C40164618
9	10029119	26/02/2013 *	1,416,000,000.00	CENTRAL BANK OF INDIA	Corporate Finance Branch, Kolkata, 33, Netaji Subhas Road, Kolkata, West Bengal - 700001, INDIA	B69721736
10	90371217	16/03/2013 *	800,000,000.00	Indian Overseas Bank	INDIA EXCHANGE PLACE BRANCH, P-35 INDIA EXCHANGE  PLACE, KOLKATA, West Bengal - 700001, INDIA	B73756454

*Date of charge modification

FIXED ASSETS

• Office equipment
• Computer 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 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.66.18
UK Pound	1	Rs.100.46
Euro	1	Rs.74.60

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KSH
Report Prepared by :	ART

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.