MIRA INFORM REPORT

Report No. :	497463
Report Date :	21.03.2018

IDENTIFICATION DETAILS

Name :	MSP SPONGE IRON LIMITED (w.e.f. 01.03.2005)
Formerly Known As :	MSP SPONGE IRON PRIVATE LIMITED
Registered Office :	1, Ground Floor, Crooked Lane, Kolkata – 700069, West Bengal
Tel. No.:	91-33-40057777
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	16.07.1999
Com. Reg. No.:	21-114830
Capital Investment / Paid-up Capital :	INR 329.021 Million
CIN No.: [Company Identification No.]	U27102WB1999PLC114830
IEC No.: [Import-Export Code No.]	2306000883
GSTIN : [Goods & Service Tax Registration No.]	19AACCM1932G1ZM
TIN No.:	19452317048
PAN No.: [Permanent Account No.]	AACCM1932G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the Manufacture and Sale of Iron and Steel, Ferro Alloy Products, and Captive Power Generation. (Registered Activity)
No. of Employees :	Information denied by the management

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 4743000
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1999 having satisfactory track record. It is engaged as manufacturer of iron and steel. Management has failed to file its financials for the year 2017 with Registrar of Companies. For the financial year 2016, the revenue of the company has been sharply declined by 48.51% as compared to its previous year and has incurred operational loss during the year. The company possesses satisfactory financial risk profile marked by adequate net worth base and comfortable debt coverage indicators. Rating continue to derive strength from its long and established track record of its business operation backed by its well-experienced management team. However, these rating strengths gets partially offset by continuous operational losses due to intense competition in highly fragmented steel industry. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing 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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 21.03.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DECLINED BY

Name :	Mr. Navin
Designation :	Account Department
Contact No.:	91-33-40057777
Date :	13.03.2018

LOCATIONS

Registered Office :	1, Ground Floor, Crooked Lane, Kolkata – 700069, West Bengal, India
Tel. No.:	91-33-30222795/ 4795
Fax No.:	91-33-22481720
E-Mail :	mspgroup@vsnl.com
E-Mail :	Invester.contact@mspsteel.com mspgroup@vsnl.com contactus@mspsteel.com
Website :	www.mspsteel.com
Corporate Office 1 :	16/S, Block A, New Alipore, Kolkata – 700053, West Bengal, India
Tel. No.:	91-33-40057777/ 40145678
Fax No.:	91-33-23982239/ 40057799
Corporate Office 2:	Village: Haldiaguna - Gobarardhan, District: Keonjhar, Odisha, India
Factory 1 :	Village: Manuapalli, District: Raigarh-496001, Chhattisgarh, India
Tel. No.:	91-7762-226532
Fax No.:	91-7762-226533
Factory 2 :	Mining Road, Near Law College, Keonjhar-758001, Odisha, India

DIRECTORS

As on 31.03.2017

Name :

Mr. Manish Agrawal

Designation :

Managing Director

Address :

386A Block-G, New Alipore, Kolkata - 700053, West Bengal, India

Date of Birth/Age :

04.02.1980

Qualification

MBA

Experience :

10 Years

Date of Appointment :

16.07.1999

PAN No.:

ACJPA0456B

DIN No.:

00129240

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U26942WB2006PLC134436	MSP FERRO AND POWER LIMITED	26/06/2006	-
U65910BR1992PLC004819	R.M.B. FINANCE COMPANY LIMITED	17/01/2009	-
U27100MH2003PLC143049	CHAMAN METALLICS LIMITED	13/02/2006	-
L27109WB1968PLC027399	MSP STEEL & POWER LIMITED	05/07/2003	-
L24111WB1985PLC038480	HOWRAH GASES LIMITED.	29/09/2016	-
U40106WB2008PLC123052	MSP POWER LIMITED	25/02/2008	-
U10100WB2008PTC121407	MSP COKES PRIVATE LIMITED	03/01/2008	-
U10101WB2007PLC118764	MSP MINES & MINERALS LIMITED	18/09/2007	-
U14219WB2006PTC112186	PRATEEK MINES & MINERALS PRIVATE LIMITED	22/12/2006	-
U10300CT2006PLC020006	MADANPUR SOUTH COAL COMPANY LIMITED	23/05/2006	-
U51909WB2005PTC101408	EMERALD TRADELINK PRIVATE LIMITED	07/01/2008	-
U67120WB1993PTC057533	B S CONFIN PVT LTD	20/12/2007	-
U27109WB1997PLC085253	MSP STEELS LTD.	31/07/2006	-
U65999WB1994PTC064432	SUYASH FINOVEST PVT LTD	27/02/2013	-
U27109WB1996PLC082138	MSP METALLICS LIMITED	30/09/2016	-
U51109WB1995PTC075420	SAMPAT MARKETING COMPANY PVT LTD	23/08/2013	-
U51109WB1995PTC072185	AA ESS TRADELINKS PVT LTD	14/04/2011	-

Name :

Mr. Sureshkumar Aggarwal

Designation :

Director

Address :

16/S, Block A, New Alipore, Kolkata - 700053, West Bengal, India

Date of Birth/Age :

12.10.1953

Qualification

B.E

Date of Appointment :

30.09.2015

DIN No.:

00587623

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U27100WB2007PTC119022	SHREE SAI SHRADDHA METALLICS PRIVATE LIMITED	23/07/2008	-
U26942WB2006PLC134436	MSP FERRO AND POWER LIMITED	20/09/2010	-
U26940CT2008PLC002120	MSP CEMENT LIMITED	02/06/2008	-
U40104WB2008PLC124772	MSP ENERGY LIMITED	04/04/2008	-
U40106WB2008PLC123052	MSP POWER LIMITED	25/02/2008	-
U10100WB2008PTC121407	MSP COKES PRIVATE LIMITED	03/01/2008	-
U27109WB1997PLC085253	MSP STEELS LTD.	22/08/1997	-
U51109WB1995PTC068525	VICONIC MERCHANTS PVT.LTD.	29/04/2009	-
U51909WB1995PTC067129	NAIRIT TIE-UP PVT LTD	20/12/2007	-
L51909WB1986PLC040201	ASHIRWAD STEELS & INDUSTRIES LTD	21/02/1991	-
L24111WB1985PLC038480	HOWRAH GASES LIMITED.	30/09/2012	-
L27109WB1968PLC027399	MSP STEEL & POWER LIMITED	22/09/2016	-
U65910WB1993PLC138101	JAIK LEASING AND COMMERCIAL INVESTMENT LIMITED	03/03/2014	-
U65921WB1995PTC133224	M.A.HIRE PURCHASE PRIVATE LIMITED	03/03/2014	-

Name :

Mr. Pradip Kumar Dey

Designation :

Director

Address :

104/3/4, Satyen Roy Road, Kolkata-700034, West Bengal, India

Date of Birth/Age :

04.05.1962

Qualification

LLB

Date of Appointment :

16.07.1999

PAN No.:

AGIPD2752Q

DIN No.:

00587842

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U10101WB2007PLC118764	MSP MINES & MINERALS LIMITED	18/09/2007	-

Name :

Mr. Priyanka Tiwari

Designation :

Director

Address :

639, Block – O, New Alipore, Kolkata - 700053, West Bengal, India

Date of Birth/Age :

15.01.1985

Qualification

B.Com

Date of Appointment :

30.09.2015

DIN No.:

06944383

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
L27109WB1968PLC027399	MSP STEEL & POWER LIMITED	05/07/2003	-
L24111WB1985PLC038480	HOWRAH GASES LIMITED.	29/09/2016	-

Name :

Mr. Kapil Deo Pandey

Designation :

Director

Address :

28, Rai Bahadur Road, Sneha Garden, Flat C3HK, Kolkata - 700053, West Bengal, India

Date of Birth/Age :

30.06.1983

Qualification

MSC

Date of Appointment :

30.09.2015

DIN No.:

07208719

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
L27109WB1968PLC027399	MSP STEEL & POWER LIMITED	05/07/2003	-
U27109WB1996PLC082138	MSP METALLICS LIMITED	30/09/2016	-

KEY EXECUTIVES

Name :	Mrs. Prerna Priya
Designation :	Company Secretary
Address :	Shakuntala Vihar, Jora Talab, Bariatu Ranchi – 834009, Jharkhand, India
Date of Appointment :	01.08.2015
PAN No.:	CCZPP2746M
Name :	Mr. Subhash Agarwal
Designation :	Chief Financial Officer
Address :	2/2A, Dr Suresh Sarkar Road, 4th Floor, Kolkata – 700014, West Bengal, India
Date of Appointment :	30.03.2015
PAN No.:	ACJPA9639E

MAJOR SHAREHOLDERS

As on 31.03.2016

SHAREHOLDER FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2017

Category	Percentage
Promoters (Individual/Hindu Undivided Family – Indian)	4.72
Promoters (Body corporate)	31.78
Public/Other than promoters (Individual/Hindu Undivided Family – Indian)	0.72
Public/Other than promoters (Body corporate)	62.78
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the Manufacture and Sale of Iron and Steel, Ferro Alloy Products, and Captive Power Generation. (Registered Activity)

Products / Services :

Item Code No.	Products/Services Description
99886010	Manufacturing of Steel & Steel Products
99611925	Products Wholesale of Trading Activities

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 :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

Information denied by the management

Bankers :

Banker Name :	State Bank of India
Branch :	Commercial Branch,24 Park Street Kolkata -700016, West Bengal, India
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Facilities :

Secured Loan	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
Rupee term loans from banks	3675.665	3436.739
Foreign currency term loans from banks	6.000	30.037
Long-term maturities of finance lease obligations	0.000	3.244
SHORT TERM BORROWINGS
Working capital loans from banks	807.152	870.013
Total	4488.817	4340.033

Auditors :
Name :	G. Goenka and Company Chartered Accountants
Address :	18, British Indian, Street, 3rd Floor, Room-305, Kolkata - 700069, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	AAEFG1095P
Memberships :	Not Available
Collaborators :	Not Available
Associates :	· MSP Steel and Power Limited (CIN - L27109WB1968PLC027399) · MSP Mines and Minerals Limited (CIN -U10101WB2007PLC118764)
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· MSP Metallics Limited (CIN - U27109WB1996PLC082138) · Chaman Metallics Limited (CIN -U27100MH2003PLC143049) · Howrah Gases Limited (CIN -L24111WB1985PLC038480) · MSP Ferro And Power Limited (CIN -U26942WB2006PLC134436) · Jai K Leasing And Commercial Investment Limited · M.A. Hire Purchase Private Limited (CIN -U65921WB1995PTC133224)

CAPITAL STRUCTURE

As on 31.03.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
34000000	Equity Shares	INR 10/- each	INR 340.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
32902090	Equity Shares	INR 10/- each	INR 329.021 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET [STANDALONE]

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	329.021	329.021	316.219
(b) Reserves and Surplus	1331.035	2314.268	2570.548
(c) Money received against share warrants	0.000	0.000	0.000
(d) Minority interest	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1660.056	2643.289	2886.767
(3) Non-Current Liabilities
(a) long-term borrowings	3681.665	3476.020	2422.826
(b) Deferred tax liabilities (Net)	65.536	128.237	118.347
(c) Other long-term liabilities	0.000	0.000	116.051
(d) long-term provisions	1.821	13.856	3.325
Total Non-current Liabilities (3)	3749.022	3618.113	2660.549
(4) Current Liabilities
(a) Short-term borrowings	807.152	870.013	1509.617
(b) Trade payables	650.229	578.279	552.093
(c) Other current liabilities	299.376	195.360	565.122
(d) Short-term provisions	40.982	72.260	40.565
Total Current Liabilities (4)	1797.739	1715.912	2667.397
TOTAL	7206.817	7977.314	8214.713
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4348.904	4531.617	3544.072
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets capital work-in-progress	98.584	99.161	1040.389
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	603.374	603.374	629.974
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	20.343	22.028	98.000
(e) Other Non-current assets	0.000	0.000	0.017
Total Non-Current Assets	5071.205	5256.180	5312.452
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	713.712	1058.697	1127.183
(c) Trade receivables	885.719	765.812	566.257
(d) Cash and bank balances	88.518	262.753	206.637
(e) Short-term loans and advances	440.970	629.198	997.232
(f) Other current assets	6.693	4.674	4.952
Total Current Assets	2135.612	2721.134	2902.261
TOTAL	7206.817	7977.314	8214.713

PROFIT & LOSS ACCOUNT [STANDALONE]

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Total Revenue from operations	2786.202	5410.826	4575.774
	Other Income	14.612	15.682	31.401
	TOTAL	2800.814	5426.508	4607.175
Less	EXPENSES
	Cost of Materials Consumed	1805.999	3785.849	2834.448
	Purchases of Stock-in-Trade	369.266	234.489	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	234.872	(228.866)	(75.152)
	Employee benefit expense	120.898	250.007	208.440
	Other expenses	654.055	1224.978	1055.249
	TOTAL	3185.090	5266.457	4022.985
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(384.276)	160.051	584.190
Less	FINANCIAL EXPENSES	477.929	464.348	346.901
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(862.205)	(304.297)	237.289
Less	DEPRECIATION/ AMORTISATION	183.729	37.348	166.454
	PROFIT/ (LOSS) BEFORE TAX	(1045.934)	(341.645)	70.835
Less	TAX	(62.701)	9.890	19.855
	PROFIT/ (LOSS) AFTER TAX	(983.233)	(351.535)	50.980
	IMPORTS
	Raw Materials	191.960	362.106	341.272
	Components and spare parts	0.564	5.960	0.000
	Capital Goods	0.000	0.000	32.454
	TOTAL IMPORTS	192.524	368.066	373.726
	Earnings / (Loss) Per Share (INR)	(29.884)	(10.684)	509.000

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	111.030	14.131	230.837
Net cash flows from (used in) operations	37.991	65.419	562.207
Net cash flows from (used in) operating activities	37.991	65.419	550.372

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	116.03	51.66	45.17
Account Receivables Turnover (Income / Sundry Debtors)	3.15	7.07	8.08
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	109.11	52.50	71.09
Inventory Turnover (Operating Income / Inventories)	(0.54)	0.15	0.52
Asset Turnover (Operating Income / Net Fixed Assets)	(0.09)	0.03	0.13

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.78	0.65	0.65
Debt Equity Ratio (Total Liability / Networth)	2.77	1.65	1.44
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.08	0.65	0.92
Fixed Assets to Networth (Net Fixed Assets / Networth)	2.68	1.75	1.59
Interest Coverage Ratio (PBIT / Financial Charges)	(0.80)	0.34	1.68

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin ((PAT / Sales) * 100)	%	(35.29)	(6.50)	1.11
Return on Total Assets ((PAT / Total Assets) * 100)	%	(13.64)	(4.41)	0.62
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(59.23)	(13.30)	1.77

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.19	1.59	1.09
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.79	0.97	0.67
G-Score Ratio Financial (Networth / Total Assets)	0.23	0.33	0.35
G-Score Ratio Debt (Debts / Equity Capital)	13.98	13.25	13.17
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.19	1.59	1.09

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	316.219	329.021	329.021
Reserves & Surplus	2570.548	2314.268	1331.035
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2886.767	2643.289	1660.056
long-term borrowings	2422.826	3476.020	3681.665
Short term borrowings	1509.617	870.013	807.152
Current maturities of long-term debts	230.837	14.131	111.030
Total borrowings	4163.280	4360.164	4599.847
Debt/Equity ratio	1.442	1.650	2.771

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	4575.774	5410.826	2786.202
		18.249	(48.507)

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	4575.774	5410.826	2786.202
Profit	50.980	(351.535)	(983.233)
	1.11 %	(6.50 %)	(35.29 %)

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	Yes
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	No
17]	Details of sister concerns	Yes
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	No
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	Yes
35]	Negative Reporting by Auditors in the Annual Report	No

STATE OF THE COMPANYS AFFAIRS

During the year 2015-16, the Company achieved a total net revenue of INR 2786.202 million as compared to INR 5410.826 million in the previous year. The company incurred loss during the year. The net loss for the year was INR 1045.934 million against profit of INR 341.645 million in the previous year.

UNSECURED LOAN

PARTICULARS	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
LONG TERM BORROWINGS
Intercorporate borrowings	0.000	6.000
Total	0.000	6.000

INDEX OF CHARGES

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Amount	Address
1	C52381852	10566942	State Bank of India	11/04/2015	-	16702600000.0	Commercial Branch, Kolkata24, Park Street, Kolkata-700016IN
2	C52888641	10567828	State Bank of India	06/04/2015	-	13203400000.0	Commercial Branch, Kolkata24, Park Street, Kolkata-700016IN
3	C54927132	10571914	State Bank of India	30/03/2015	-	3837000000.0	Commercial Branch, Kolkata24, Park Street, Kolkata-700016IN
4	C54979596	10437337	State Bank of India	17/06/2013	30/03/2015	1480000000.0	Commercial Branch, Kolkata24, Park Street, Kolkata-700016IN
5	B67002436	10400854	State Bank Of Hyderabad	15/01/2013	-	550000000.0	Park Street Branch113 Park Street, Kolkata-700016IN
6	B76832062	10360350	State Bank Of India	05/06/2012	05/06/2013	2340000000.0	Commercial Branch, Kolkata24, Park Street, Kolkata-700016IN
7	B40742033	10358465	Central Bank Of India	31/05/2012	-	220000000.0	Corporate Finance Branch,33, Netaji Subhas RoadKolkataWB700001IN
8	B40491722	10357829	State Bank Of Hyderabad	24/05/2012	-	220000000.0	Park Street Branch113 Park Street, Kolkata-700016IN
9	C56551534	10301456	Uco Bank	03/08/2011	17/04/2015	5033800000.0	Flagship Corporate Branch2, India Exchange Branch, Gr Floorkolkatawb700001in
10	B75039909	10274065	UCO BANK (LEAD BANK)	15/03/2011	10/04/2013	2340000000.0	Flagship Corporate Branch3, Netaji Subhas Road,Kolkatawb700001in

FIXED ASSETS

· Land

· Factory Building

· Factory Equipment

· Furniture and Fixtures

· Motor Vehicles

· Plant and Equipment

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	INR
US Dollar	1	INR 65.20
UK Pound	1	INR 91.49
Euro	1	INR 80.46

INFORMATION DETAILS

Information Gathered by :	SHL
Analysis Done by :	NIS
Report Prepared by :	TRUP

SCORE FACTORS

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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.