MIRA INFORM REPORT

Report No. :	345462
Report Date :	14.10.2015

IDENTIFICATION DETAILS

Name :	MEHTA METALCON PRIVATE LIMITED
Registered Office :	501-A, Gokul Building, 80-A Baroda Street, Masjid Bunder (East), Mumbai – 400009, Maharashtra
Tel. No.:	91-22-23480197/98
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.09.2011
Com. Reg. No.:	11 - 221880
Capital Investment / Paid-up Capital :	Rs. 0.200 Million
CIN No.: [Company Identification No.]	U27320MH2011PTC221880
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 :	Manufacturing of E.R.W. pipes and precession pipes.
No. of Employees :	Not Available

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 :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has incurred huge accumulated losses which has resulted into fully erosion of net worth. However, Business is active. Payments terms are reported to be slow. The company can be considered for business dealings on a 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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 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.

LOCATIONS

Registered Office :	501-A, Gokul Building, 80-A Baroda Street, Masjid Bunder (East), Mumbai – 400009, Maharashtra, India
Tel. No.:	91-22-23480197/98
Fax No.:	91-22-23480199
E-Mail :	mehtaintertrade@yahoo.co.in
Factory :	Savrolikharpada Road, Vill – Madap, Tal. Khalapur, Dist – Raigad – 410202, Maharashtra, India
Tel. No.:	91-2192-276050

DIRECTORS

As on : 30.09.2014

Name :	Mr.Bhupendra Babulal Merita
Designation :	Director
Address :	19 C/2, Model Town, Balrejeshwar Road, Mulund (West), Mumbai-400080.
Date of Birth/Age :	14.09.1956
Date of Appointment :	11.09.2011
DIN No.:	03566518
Name :	Mr.Naitik Rajendra Mehta
Designation :	Director
Address :	19 C/2, Model Town, Balrajeshwar Road.MulundfWest), Mumbai- 400080.
Date of Birth/Age :	18.11.1990
Date of Appointment :	11.09.2011
DIN No.:	03566563

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders	No. of Shares
Mr.Bhupendra Babulal Mehta	10000
Mr.Naitik Rajendra Mehta	10000
Total	20000

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 :	Manufacturing of E.R.W. pipes and precession pipes.
Products :	E.R.W. Pipes
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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:	--

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:	--

No. of Employees :

Not Available

Bankers :

Bank Name	Not Divulged
Branch	Not Divulged
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)	--

Facilities :

--

Banking Relations :	--
Auditors :
Name :	V.K.THANAWALA Chartered Accountants
Address :	505. Abhay Steel House, 5th Floor, 22-Baroda Street, Iron Market, Mumbai – 400009, Maharashtra, India
Tel. No.:	91-91-22-23486679/23484336/66318590/66318591
Fax No.:	91-22-23481151
PAN N Income-tax PAN of auditor or auditor's firm :	AAAPT3237C
Memberships :	NIL
Collaborators :	NIL
Associates/Subsidiaries :	NIL

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.10/- each	Rs. 0.200 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.200	0.200	0.200
(b) Reserves & Surplus	(1.185)	(2.557)	(1.763)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	(0.985)	(2.357)	(1.563)
(3) Non-Current Liabilities
(a) long-term borrowings	47.593	41.682	31.238
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	18.335	3.989	9.989
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	65.928	45.671	41.227
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	364.141	112.142	0.439
(c) Other current liabilities	40.136	50.104	0.169
(d) Short-term provisions	0.935	0.440	0.306
Total Current Liabilities (4)	405.212	162.686	0.914
TOTAL	470.155	206.000	40.578
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	62.149	40.855	40.139
(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	1.599	0.000	0.000
(e) Other Non-current assets	0.020	0.030	0.040
Total Non-Current Assets	63.768	40.885	40.179
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	7.554	0.000	0.000
(c) Trade receivables	204.276	126.612	0.259
(d) Cash and cash equivalents	0.057	0.244	0.045
(e) Short-term loans and advances	194.500	38.259	0.095
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	406.387	165.115	0.399
TOTAL	470.155	206.000	40.578

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Revenue from operation	NA	125.920	2.106
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	EXPENSES
	TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	NA	(0.794)	(1.763)
Less	TAX	NA	(1.639)	0.000
	PROFIT/ (LOSS) AFTER TAX	NA	(0.845)	(1.763)
	Earnings / (Loss) Per Share (Rs.)	NA	(42.25)	(88.15)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PBT/Sales)	(%)	NA	(0.63)	(83.71)
Return on Total Assets (PBIDT/Sales }	(%)	NA	NA	NA
Return on Investment (ROI) (PBT/Networth)		NA	(0.78)	(1.74)
Debt Equity Ratio (Total Debt/Networth)		(48.32)	(17.68)	(19.99)
Current Ratio (Current Asset/Current Liability)		1.00	1.01	0.44

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.200	0.200	0.200
Reserves & Surplus	(1.763)	(2.557)	(1.185)
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(1.563)	(2.357)	(0.985)
long-term borrowings	31.238	41.682	47.593
Short term borrowings	0.000	0.000	0.000
Total borrowings	31.238	41.682	47.593
Debt/Equity ratio	(19.986)	(17.684)	(48.318)

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
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	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
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	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Unsecured from related parties (The installment following due within 12 months after report date is NIL as terms of repayment are not pre - determined)	47.593	41.682
Total	47.593	41.682

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10555959	27/02/2015 *	300,000,000.00	UNION BANK OF INDIA	MULUND (WEST) BRANCH,SAI ARCADE, NETAJI SUBASH R  OAD, MULUND (WEST), MUMBAI - 400080, MAHARASHTRA , INDIA	C47468897

* Date of charge modification

FIXED ASSETS

• Plant and Machinery
• Mobile Phone
• Land and Shed

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.65.02
UK Pound	1	Rs.98.88
Euro	1	Rs.73.92

INFORMATION DETAILS

Report Prepared by :

SNT

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.