MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	511122
Report Date :	29.05.2018

IDENTIFICATION DETAILS

Name :	EKC POSITRON GAS LIMITED

Registered Office :	Unit No. 203, 2nd Floor, 52A, Shakespeare Sarani, Chandan Niketan, Kolkata - 700017, West Bengal
Tel. No.:	91-22-30268300

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	15.05.2015

Com. Reg. No.:	21-206360

Capital Investment / Paid-up Capital :	INR 0.500 Million

CIN No.: [Company Identification No.]	U40300WB2015PLC206360

IEC No.: [Import-Export Code No.]	Not Divulged

GSTN : [Goods & Service Tax Registration No.]	Not Divulged

TIN No:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	ASDFG4564A

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Wholesale of solid, liquid and gaseous fuels and related products. (Registered Activity)

No. of Employees :	Not Divulged

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject was incorporated in the year 2015. For the financial year 2017, the company has not earned any operational revenue and has incurred operational loss. The moderate financial profile of the company is marked by negative reserve. base. No payment terms are known. In view of aforesaid, dealings are recommended on safe and secured terms.

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

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 31-03-2018.

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 28.05.2018

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 DENIED BY

Name :	Mr. Kishore
Designation :	Chief Executive Officer
Contact No.:	91-22-30268300
Date :	23.05.2018

LOCATIONS

Registered Office :	Unit No. 203, 2nd Floor, 52A, Shakespeare Sarani, Chandan Niketan, Kolkata - 700017, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	alok.bodas@ekc.in

Corporate Office :	204, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai-400021, Maharashtra, India
Tel. No.:	91-22-30268300

DIRECTORS

As on 31.03.2017

Name :

Mr. Prem Kumar Khurana

Designation :

Director

Address :

203-B, Maker Tower 'B', Cuffe Parade, Mumbai-400005, Maharashtra, India

Date of Birth/Age :

29.10.1940

Date of Appointment :

15.05.2015

Qualification :

LLB

DIN No:

00004050

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L29200MH1978PLC020434	EVEREST KANTO CYLINDER LIMITED	01/08/1978	-
U28100MH1981PTC025632	KHURANA FABRICATION INDUSTRIES PVT LTD	13/11/1981	-
U28121MH1981PTC025563	KHURANA GASES PVT LTD	10/12/1982	-
U51900MH1982PTC026676	KHURANA EXPORTS PVT LTD	16/03/1982	-
U28900MH1990PTC055029	UKAY VALVES AND FOUNDERS PRIVATE LIMITED	30/09/2008	-
U65990MH1992PTC069869	EVEREST KANTO INVESTMENT AND FINANCE PRIVATE LIMITED	03/12/1992	-
U70100MH1999PTC119688	G N M REALTORS PRIVATE LIMITED	30/09/2009	-
U51410WB2004PLC100920	CALCUTTA COMPRESSIONS & LIQUEFACTION ENGINEERING LTD	16/04/2009	-
U74899DL1974PLC007459	MEDICAL ENGINEERS (INDIA) LTD.	24/03/2014	-
U74999MH2016PTC289026	NEXT GEN CYLINDER PRIVATE LIMITED	28/12/2016	-

Name :

Mr. Puneet Khurana

Designation :

Director

Address :

202-B, Maker Tower 'B', Cuffe Parade, Mumbai-400005, Maharashtra, India

Date of Birth/Age :

12.12.1973

Date of Appointment :

15.05.2015

Qualification :

B.com, MBA

DIN No:

00004074

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U28100MH1981PTC025632	KHURANA FABRICATION INDUSTRIES PVT LTD	20/03/2007	-
U28121MH1981PTC025563	KHURANA GASES PVT LTD	30/09/2009	-
U51900MH1982PTC026676	KHURANA EXPORTS PVT LTD	24/12/2002	-
U28900MH1990PTC055029	UKAY VALVES AND FOUNDERS PRIVATE LIMITED	30/09/2008	-
U65990MH1992PTC069869	EVEREST KANTO INVESTMENT AND FINANCE PRIVATE LIMITED	01/02/1996	-
U70100MH1999PTC119688	G N M REALTORS PRIVATE LIMITED	30/09/2009	-
U51410WB2004PLC100920	CALCUTTA COMPRESSIONS & LIQUEFACTION ENGINEERING LTD	16/04/2009	-
U74899DL1974PLC007459	MEDICAL ENGINEERS (INDIA) LTD.	29/09/2010	-
U29253MH2016PTC274755	FIREFITE EVEREST PRIVATE LIMITED	22/03/2016	-
U74999MH2016PTC289026	NEXT GEN CYLINDER PRIVATE LIMITED	28/12/2016	-

Name :

Mr. Pushkar Khurana

Designation :

Director

Address :

202-B, Maker Tower 'B', Cuffe Parade, Mumbai-400005, Maharashtra, India

Date of Birth/Age :

17.07.1972

Date of Appointment :

15.05.2015

Qualification :

B.com, MBA in Business Management

DIN No:

00040489

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L29200MH1978PLC020434	EVEREST KANTO CYLINDER LIMITED	01/01/2008	-
U28100MH1981PTC025632	KHURANA FABRICATION INDUSTRIES PVT LTD	30/09/2013	-
U28121MH1981PTC025563	KHURANA GASES PVT LTD	01/12/1993	-
U28900MH1990PTC055029	UKAY VALVES AND FOUNDERS PRIVATE LIMITED	30/09/2013	-
U65990MH1992PTC069869	EVEREST KANTO INVESTMENT AND FINANCE PRIVATE LIMITED	20/08/1998	-
U70100MH1999PTC119688	G N M REALTORS PRIVATE LIMITED	30/09/2009	-
U51410WB2004PLC100920	CALCUTTA COMPRESSIONS & LIQUEFACTION ENGINEERING LTD	16/04/2009	-

Name :

Mr. Rajiv Shankarankutty Menon

Designation :

Director

Address :

B-5, 101, Lahabitat, Near Aiyana Complex, Opposite Shukun Bunglows, Off. S.G. Highway, Thaltej, Ahmedabad-380054, Gujarat, India

Date of Birth/Age :

08.05.1979

Date of Appointment :

15.05.2015

Qualification :

Graduate

DIN No:

01958636

CIN/FCRN	Company Name	Begin Date	End Date
U51410WB2004PLC100920	CALCUTTA COMPRESSIONS & LIQUEFACTION ENGINEERING LTD	22/04/2009	-
U01403GJ2008PTC052932	POSITRON ENERGY PRIVATE LIMITED	15/02/2008	-
U45200GJ2011PTC067821	PERIGON INFRATECH PRIVATE LIMITED	15/11/2011	-
U40108GJ2016PTC094525	NAVERIYA GAS PRIVATE LIMITED	30/11/2016	-

KEY EXECUTIVES

Name :	Mr. Kishore
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS

As on 31.03.2017

Names of Shareholders		No. of Shares
Everest Kanto Cylinder Limited, India		36322
Positron Energy Private Limited, India		13673
P.K. Khurana		1
Pushkar Khurana		1
Puneet Khurana		1
Rajiv Menon		1
Manav Bahri		1
Total		50000

Equity Share Break up (Percentage of Total Equity)

As on: 28.09.2017

Category	Percentage
Promoters (Individual/Hindu Undivided Family – Indian)	0.01
Promoters (Body corporate)	99.99
Total	100.00

BUSINESS DETAILS

Line of Business :

Wholesale of solid, liquid and gaseous fuels and related products. (Registered Activity)

Products / Services :

Item Code No.	Products/Services Description
51410	solid, liquid and gaseous fuels and related products.

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 :

Not Divulged

Bankers :

Banker Name :	Not Divulged
Branch :	Not Divulged
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 :	--

Auditors :
Name :	M/S Prakash Sahu and Company Chartered Accountants
Address :	A/10, Kishin Kunj, Jeevan Vikas Kendra Marg, Koldongri, Vile Parle (East), Mumbai – 400057, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AIXPS6943F

Memberships :	Not Available

Collaborators :	Not Available

Holding Company:	Everest Kanto Cylinder Limited (L29200MH1978PLC020434)

Associates	Positron Energy Private Limited (U01403GJ2008PTC052932)

CAPITAL STRUCTURE

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount

50000	Equity Shares	INR 10/- each	INR 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

50000	Equity Shares	INR 10/- each	INR 0.500 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500
(b) Reserves and Surplus	(0.016)	0.000
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	0.484	0.500

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long-term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000

(4) Current Liabilities
(a) Short-term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	0.000	0.000
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	0.000	0.000

TOTAL	0.484	0.500

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Tangible assets capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term loans and advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	0.000	0.000

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and bank balances	0.484	0.500
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.000	0.000
Total Current Assets	0.484	0.500

TOTAL	0.484	0.500

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Total Revenue from operations	0.000	0.000
	Other Income	0.000	0.000
	TOTAL	0.000	0.000

Less	EXPENSES
	Other expenses	0.016	0.000
	TOTAL	0.016	0.000

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(0.016)	0.000

Less	FINANCIAL EXPENSES	0.000	0.000

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(0.016)	0.000

Less/ Add	DEPRECIATION/ AMORTISATION	0.000	0.000

	PROFIT/ (LOSS) BEFORE TAX	(0.016)	0.000

Less	TAX	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX	(0.016)	0.000

	Earnings / (Loss) Per Share (INR)	(0.32)	0.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016
Current Maturities of Long term debt	NA	NA

Net cash flows from (used in) operations	(0.016)	0.000

Net cash flows from (used in) operating activities	(0.016)	0.000

KEY RATIOS

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2017
Net Profit Margin [(PAT / Sales) * 100]	(%)	0.00	0.00

Return on Total Assets [(PAT / Total Assets) * 100]	(%)	(3.31)	(3.31)

Return on Investment (ROI) [(PAT / NetWorth) * 100]	(%)	(3.31)	(3.31)

SOLVENCY RATIO

PARTICULARS	31.03.2017	31.03.2017
Current Ratio [Current Assets / Current Liabilities]	0.00	0.00

Quick Ratio [(Current Assets - Inventories) / Current Liabilities]	0.00	0.00

G-Score Ratio Financial [NetWorth / Total Assets]	1.00	1.00

G-Score Ratio Debt [Debts / Equity Capital]	0.00	0.00

G-Score Ratio Liquidity [Total Current Assets / Total Current Liabilities]	0.00	0.00

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	31.03.2016	31.03.2017
	INR In Million	INR In Million
Share Capital	0.500	0.500
Reserves & Surplus	0.000	(0.016)
Net worth	0.500	0.484

Long-term borrowings	0.000	0.000
Short term borrowings	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

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	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	No
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last two years	Yes
30	Major shareholders, if available	No
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

OPERATIONS:

During the year the company has incurred a loss of INR 0.016 million

INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY

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 68.26
UK Pound	1	INR 91.23
Euro	1	INR 79.88

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	PYK

Report Prepared by :	MTN

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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.