MIRA INFORM REPORT

Report No. :	500074
Report Date :	28.03.2018

IDENTIFICATION DETAILS

Name :	RELIABLE SPONGE PRIVATE LIMITED
Registered Office :	258 Lake Town Block B, Flat SJ - 2, First Floor, Kolkata – 700089, West Bengal
Mobile No.:	91-7064458070 (Mr. Satya Pradhan)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	02.04.2004
Com. Reg. No.:	21-098257
Capital Investment / Paid-up Capital :	INR 75.566 Million
CIN No.: [Company Identification No.]	U27310WB2004PTC098257
IEC No.: [Import-Export Code No.]	0206029110
GSTN : [Goods & Service Tax Registration No.]	19AACCR7178P1ZG
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCR7178P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture of Sponge Iron. Manufacture of steel in ingots, primary forms, semi-finished etc. Manufacture of other basic iron and steel (Rods, Bars etc.) Trading Sales. [Registered Activity]
No. of Employees :	Not Available

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 2400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in the year 2004 and it is having good track records. It manufacturers of sponge iron, thermo-mechanically treated steel bars and steel structural products at its facility in Rourkela, Odisha. For the financial year 2017, the company has marginal decreased in its revenue from operations as compared to previous year but maintained average profitability margin of 1.57%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, rating also reflects from its extensive experience of promoters along with established track record of business operations and decent improvement in the profitability profile during the year. However, rating strength is partially offset by susceptibility to volatility in raw material prices and intense competition. Trade relations are reported as fair. Business is active. Payment terms are seems to be regular. 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

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	CRISIL
Rating	Long term rating: BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	27.10.2017

Rating Agency Name	CRISIL
Rating	Short term rating: A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	27.10.2017

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 28.03.2018

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.

LOCATIONS

Registered Office :	258 Lake Town Block B, Flat SJ - 2, First Floor, Kolkata – 700089, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91-9437965857 (Ms. Deepika) 91-7064458070 (Mr. Satya Pradhan)
Fax No.:	91-661-2402400
E-Mail :	sales@reliableispat.com roshanlal.associates@gmail.com
Website :	http://www.reliableindia.co.in
Corporate Office :	2^nd Floor, Dua Complex, Panposh Road, Rourkela - 769004, Orissa, India
Sponge Iron Unit :	Jhalibenar, Bonaigarh, District Sundargarh - 770038, Orissa, India
Steel Unit :	TMT Bars and Structural Steel Plant Plot No-84, Industrial Estate, Kalunga District Sundargarh - 770031, Orissa, India
Galvanizing Unit :	Galvanizing Plant, At-Sagjore, P.O. Balanda, District Sundergarh - 770031, Orissa, India

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Arun Kumar Dua

Designation :

Director

Address :

H-16, Civil Township, Rourkela – 769004, Orissa, India

Date of Birth/Age :

19.10.1964

Qualification :

Graduate

Date of Appointment :

02.04.2004

PAN No.:

AAUPD0362L

DIN No.:

00498978

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27102WB2004PLC130977	MAA VAISHNAVI SPONGE LIMITED	10/08/2007	-
U51909WB1996PTC080342	ORBIT MOTORS PRIVATE LIMITED	04/07/1996	-
U27100OR2009PTC010586	RELIABLE UDYOG PRIVATE LIMITED	30/01/2009	-
U45201OR2009PTC010603	RELIABLE HITECH INFRASTRUCTURE PRIVATE LIMITED	09/02/2009	-
U55101WB2006PTC108497	RELIABLE HITECH PVT LTD	07/03/2006	-

Name :

Mr. Surendra Kumar Dua

Designation :

Director

Address :

H-16, Civil Township, Rourkela – 769004, Orissa, India

Date of Birth/Age :

31.12.1961

Qualification :

Graduate

Date of Appointment :

15.04.2004

PAN No.:

AAUPD0365P

DIN No.:

00499076

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27102WB2004PLC130977	MAA VAISHNAVI SPONGE LIMITED	01/09/2007	-
U51909WB1996PTC080342	ORBIT MOTORS PRIVATE LIMITED	04/07/1996	-
U27100OR2009PTC010586	RELIABLE UDYOG PRIVATE LIMITED	30/01/2009	-
U45201OR2009PTC010603	RELIABLE HITECH INFRASTRUCTURE PRIVATE LIMITED	09/02/2009	-
U55101WB2006PTC108497	RELIABLE HITECH PVT LTD	07/03/2006	-

Name :

Mr. Rajendra Kumar Dua

Designation :

Director

Address :

H-16, Civil Township, Rourkela – 769004, Orissa, India

Date of Birth/Age :

26.01.1955

Qualification :

Graduate

Date of Appointment :

15.04.2004

PAN No.:

AAUPD0363M

DIN No.:

00499143

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27102WB2004PLC130977	MAA VAISHNAVI SPONGE LIMITED	08/01/2007	-
U27100OR2009PTC010586	RELIABLE UDYOG PRIVATE LIMITED	30/01/2009	-
U45201OR2009PTC010603	RELIABLE HITECH INFRASTRUCTURE PRIVATE LIMITED	31/08/2016	-
U55101WB2006PTC108497	RELIABLE HITECH PVT LTD	01/04/2006	-

Name :

Mr. Vijay Kumar Dua

Designation :

Director

Address :

H-16, Civil Township, Rourkela – 769004, Orissa, India

Date of Birth/Age :

10.03.1952

Qualification :

Graduate

Date of Appointment :

15.04.2004

PAN No.:

AAUPD0364N

DIN No.:

00499301

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27102WB2004PLC130977	MAA VAISHNAVI SPONGE LIMITED	01/09/2007	-
U27100OR2009PTC010586	RELIABLE UDYOG PRIVATE LIMITED	30/01/2009	-
U45201OR2009PTC010603	RELIABLE HITECH INFRASTRUCTURE PRIVATE LIMITED	09/02/2009	-
U55101WB2006PTC108497	RELIABLE HITECH PVT LTD	01/04/2006	-

Name :

Mr. Vineet Dua

Designation :

Director

Address :

Dua and Dua Bisra Road, Rourkela – 769001, Orissa, India

Date of Birth/Age :

04.11.1982

Qualification :

Graduate

Date of Appointment :

02.04.2004

DIN No.:

01755851

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27102WB2004PLC130977	MAA VAISHNAVI SPONGE LIMITED	01/09/2007	-
U27100OR2009PTC010586	RELIABLE UDYOG PRIVATE LIMITED	30/01/2009	-
U45201OR2009PTC010603	RELIABLE HITECH INFRASTRUCTURE PRIVATE LIMITED	31/08/2016	-
U55101WB2006PTC108497	RELIABLE HITECH PVT LTD	01/04/2006	-

Name :

Mr. Ramakanta Dash

Designation :

Director

Address :

QR. No. D/8 Sector-9 Rourkela -769009, Orissa, India

Date of Appointment :

01.08.2017

DIN No.:

06895261

Name :

Pitabas Sahoo

Designation :

Director

Address :

C/O: Reliable Sponge Private Limited, Unit-2, PLOT NO. - 84, IDC, Kalunga Rourkela- 770031, Orissa, India

Date of Appointment :

01.08.2017

DIN No.:

07970481

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
Dua Kumar Arun	745500
Dua Vineet	575500
Dua Kumar Rajendra	750500
Dua Kumar Vijay	670500
Dua Kumar Surendra	625500
Dua Mohini	475500
Dua Meena	685500
Dua Suraksha	629000
Dua Rani	372000
Dua Gunjan	201500
Reliable Hitech Infrastructure (Private) Limited, India	400000
Reliable Hitech (Private) Limited, India	463000
Reliable Udyog (Private) Limited, India	200000
Dua Aditya	228000
Dua Aman	70000
Dua Akash	67000
Dua Vikas	70000
Dua Bhavya	55000
Surendra Kumar Dua HUF	65000
Vikas Dua HUF	15000
Vineet Dua HUF	21500
Vijay Kumar Dua HUF	39250
Arun Kumar Dua HUF	65950
Rajendra Kumar Dua HUF	65950
Total	7556650

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	85.93
Promoters- Body corporate	14.07
Total	100.00

BUSINESS DETAILS

Line of Business :

• Manufacture of Sponge Iron.
• Manufacture of steel in ingots, primary forms, semi-finished etc.
• Manufacture of other basic iron and steel (Rods, Bars etc.)
• Trading Sales.

[Registered Activity]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Manufacture of Sponge Iron	24102
Manufacture of steel in ingots, primary forms, semi-finished etc	24103
Manufacture of other basic iron and steel (Rods, Bars etc.)	24109
Trading Sales	46620

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

Banker Name :	SIDBI
Branch :	Hotel Nidhi Complex, Power House Road, Rourkela - 769001, Odisha, 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 :	--

• State Bank of India, SME Civil Township Branch, Panposh Road, Rourkela - 769004, Odisha, India

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
SHORT TERM BORROWING
Working capital loans from banks	431.511	457.895
Total	431.511	457.895

Auditors :
Name :	S. MITTAL and Company Chartered Accountants
Address :	1 & 2, G C Dwibedi Market Complex, Bisra Road, Rourkela -769001, Orissa, India
PAN N Income-tax PAN of auditor or auditor's firm :	ALAPM8402H
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Dua Motors Dua and Dua Reliable Hitech Private Limited, India [U55101WB2006PTC108497] Reliable Hitech Infrastructure Private Limited, India [U45201OR2009PTC010603] Reliable Udyog Private Limited, India [U27100OR2009PTC010586] Orbit Motors Private Limited, India [U51909WB1996PTC080342]

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	INR 10/- each	INR 120.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7556650	Equity Shares	INR 10/- each	INR 75.567 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	75.566	75.566	75.566
(b) Reserves and Surplus	764.791	701.341	661.194
(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)	840.357	776.907	736.760
(3) Non-Current Liabilities
(a) long-term borrowings	4.301	13.110	14.000
(b) Deferred tax liabilities (Net)	88.326	83.890	81.907
(c) Other long-term liabilities	0.000	0.000	0.000
(d) long-term provisions	3.553	2.730	1.578
Total Non-current Liabilities (3)	96.180	99.730	97.485
(4) Current Liabilities
(a) Short-term borrowings	431.511	457.895	476.782
(b) Trade payables	205.981	189.986	218.935
(c) Other current liabilities	202.604	228.540	184.990
(d) Short-term provisions	49.671	34.694	35.397
Total Current Liabilities (4)	889.767	911.115	916.104
TOTAL	1826.304	1787.752	1750.349
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	697.599	586.048	586.939
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets capital work-in-progress	0.000	16.493	9.477
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.150	1.150	1.150
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	88.705	53.893	46.153
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	787.454	657.584	643.719
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	436.095	411.945	257.883
(c) Trade receivables	403.292	515.603	426.501
(d) Cash and bank balances	18.867	66.826	252.252
(e) Short-term loans and advances	180.354	133.745	167.423
(f) Other current assets	0.242	2.049	2.571
Total Current Assets	1038.850	1130.168	1106.630
TOTAL	1826.304	1787.752	1750.349

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	4040.489	4176.548	3989.807
	Other Income	31.162	36.899	30.303
	TOTAL	4071.651	4213.447	4020.110
Less	EXPENSES
	Cost of Materials Consumed	2719.163	2647.847	2893.723
	Purchases of Stock-in-Trade	448.969	1064.445	648.774
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	15.432	(17.361)	(35.092)
	Employee benefit expense	60.639	43.542	33.514
	Other expenses	634.744	330.182	303.130
	TOTAL	3878.947	4068.655	3844.049
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	192.704	144.792	176.061
Less	FINANCIAL EXPENSES	47.127	36.299	43.537
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	145.577	108.493	132.524
Less/ Add	DEPRECIATION/ AMORTISATION	50.227	47.951	62.733
	PROFIT/ (LOSS) BEFORE TAX	95.350	60.542	69.791
Less	TAX	31.900	20.395	22.305
	PROFIT/ (LOSS) AFTER TAX	63.450	40.147	47.486
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	330.965	290.818	244.910
Less	APPROPRIATIONS
	Other deductions to reserves	0.000	0.000	1.578
	Balance Carried to the B/S	394.415	330.965	290.818
	Earnings / (Loss) Per Share (INR)	8.40	5.31	6.28

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	214.715	(72.912)	285.261
Net cash flows from (used in) operating activities	185.727	(84.556)	272.121

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	36.43	45.06	39.02
Account Receivables Turnover (Income / Sundry Debtors)	10.02	8.10	9.35
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	23.73	18.68	22.56
Inventory Turnover (Operating Income / Inventories)	0.44	0.35	0.68
Asset Turnover (Operating Income / Net Fixed Assets)	0.28	0.24	0.30

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	36.43	45.06	39.02
Debt Equity Ratio (Total Liability / Networth)	10.02	8.10	9.35
Current Liabilities to Networth (Current Liabilities / Net Worth)	23.73	18.68	22.56
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.44	0.35	0.68
Interest Coverage Ratio (PBIT / Financial Charges)	0.28	0.24	0.30

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	1.57	0.96	1.19
Return on Total Assets ((PAT / Total Assets) * 100)	%	3.47	2.25	2.71
Return on Investment (ROI) ((PAT / Networth) * 100)	%	7.55	5.17	6.45

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.17	1.24	1.21
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.68	0.79	0.93
G-Score Ratio Financial (Networth / Total Assets)	0.46	0.43	0.42
G-Score Ratio Debt (Debts / Equity Capital)	5.77	6.23	6.49
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.17	1.24	1.21

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

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	75.566	75.566	75.566
Reserves & Surplus	661.194	701.341	764.791
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	736.760	776.907	840.357
Long-term borrowings	14.000	13.110	4.301
Short term borrowings	476.782	457.895	431.511
Total borrowings	490.782	471.005	435.812
Debt/Equity ratio	0.666	0.606	0.519

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	3989.807	4176.548	4040.489
		4.680	(3.258)

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	3989.807	4176.548	4040.489
Profit/ (Loss)	47.486	40.147	63.450
	1.19 %	0.96 %	1.57 %

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	No
8	Designation of contact person	No
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	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	Yes
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

UNSECURED LOANS:

(INR In Million)

Particulars	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Loans and advances from directors	2.461	11.133
Other loans and advances, others	1.840	1.977
Total	4.301	13.110

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G44404895	100099085	SIDBI	01/05/2017	-	-	20000000.0	HOTEL NIDHI COMPLEXPOWER HOUSE ROADROURKELAOR769001IN
2	B72796022	10418448	HDFC BANK LIMITED	16/03/2013	-	-	2100000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
3	B56263569	10372196	HDFC BANK LIMITED	10/07/2012	-	-	2300000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
4	G21807714	10359729	STATE BANK OF INDIA	11/05/2012	29/09/2016	-	740000000.0	SME CIVIL TOWNSHIP BRANCHPANPOSH ROADROURKELAOR769004IN
5	C50595511	90080321	UCO BANK	22/10/2004	08/01/2010	30/03/2015	325600000.0	MAIN BRANCHSECTOR-19ROURKELAOR769005IN
6	C47477492	10125410	IDBI BANK LIMITED	20/09/2008	08/01/2010	13/03/2015	325000000.0	ROURKELA BRANCH, FIRST FLOOR/ GROUND FLOOR (ATM)DUA COMPLEX, PANPOSH ROADROURKELAOR769004IN
7	C47476536	10203121	STATE BANK OF INDIA	29/01/2010	12/01/2011	04/03/2015	110000000.0	STATE BANK OF INDIAROURKELA INDUSTRIAL BRANCHROURKELAOR769003IN
8	A99056038	90254426	ALLAHABAD BANK	10/09/2004	-	08/11/2010	86100000.0	ROURKELA BRANCHROURKELAWBIN

FIXED ASSETS:

Tangible assets

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• 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 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 64.80
UK Pound	1	INR 92.26
Euro	1	INR 80.76

INFORMATION DETAILS

Analysis Done by :	PSD
Report Prepared by :	KVT

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.