MIRA INFORM REPORT

Report Date :

03.11.2011

IDENTIFICATION DETAILS

Name :	SAYONA INDUSTRIES LIMITED
Registered Office :	201, University Plaza, Vijay Char Rasta, Ahmedabad 380009, Gujarat
Country :	India
Date of Incorporation :	19.04.2011
Com. Reg. No.:	065030
Capital Investment / Paid-up Capital :	Rs. 1.000 million
CIN No.: [Company Identification No.]	U24230GJ2011PLC065030
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Metal Recycling and Importer of Scrap
No. of Employees :	85 Approximately

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new company and yet to complete its one full year of operation. The company has started its commercial business activities in July, 2011. Business is active. Payments are unknown. The company can be considered for business dealings on a safe and 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.

INFORMATION PARTED BY (General Details)

Name :	Mr. Nayan Patel
Designation :	Marketing Executive
Date :	02.11.2011

LOCATIONS

Registered Office :	201, University Plaza, Vijay Char Rasta, Ahmedabad 380009, Gujarat, India
Tel. No.:	91-79-66314147 / 48
Fax No.:	91-79-66314146
E-Mail :	Patel_bharat66@yahoo.com info@sayona.in
Factory:	Anand, Gujarat

DIRECTORS

AS ON 19.04.2011

Name :	Mr. Natwarbhai Prajapati
Designation :	Director
Date of Birth/Age :	01.06.1952
DIN No.:	00031187

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L28112GJ1985PLC007753	Gujarat Terce Laboratories Limited	Managing director	28/03/1985	28/03/1985	-	Active	NO
2	U24230GJ2011PLC065030	Sayona Industries Limited	Director	19/04/2011	19/04/2011	-	Active	NO

Name :	Mr. Pareshbhai Dayaljibhai Patel
Designation :	Director
Date of Birth/Age :	12.05.1969
DIN No.:	01386427

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24110GJ2005PTC047310	Shukan Colotex Chemestry Private Limited	Director	01/08/2006	01/08/2006	01/08/2006	Active	NO
2	U24232GJ2007PTC049872	Shamrock Chemie Private Limited	Director	25/01/2007	25/01/2007	10/05/2011	Active	NO
3	U74900GJ2007PTC050683	Sayona Colors Private Limited	Director	04/05/2007	04/05/2007	-	Active	NO
4	U45400GJ2011PTC064670	Sayona Infrabuild Private Limited	Director	30/03/2011	30/03/2011	-	Active	NO
5	U72900GJ2011PTC064727	Sevenstar Techedge Private Limited	Director	01/04/2011	01/04/2011	-	Active	NO
6	U24230GJ2011PLC065030	Sayona Industries Limited	Director	19/04/2011	19/04/2011	-	Active	NO
7	L28112GJ1985PLC007753	Gujarat Terce Laboratories Limited	Managing director	01/06/2011	01/06/2011	-	Active	NO
8	U24230GJ2011PTC066238	Sayona Lifescience Private Limited	Director	06/07/2011	06/07/2011	-	Active	NO

Name :	Mrs. Nipaben P Patel
Designation :	Director
Date of Birth/Age :	30.04.1972
DIN No.:	01243124

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24232GJ2007PTC049872	Shamrock Chemie Private Limited	Director	25/01/2007	25/01/2007	10/05/2011	Active	NO
2	U74900GJ2007PTC050683	Sayona Colors Private Limited	Director	04/05/2007	04/05/2007	-	Active	NO
3	U45400GJ2011PTC064670	Sayona Infrabuild Private Limited	Director	30/03/2011	30/03/2011	09/05/2011	Active	NO
4	U72900GJ2011PTC064727	Sevenstar Techedge Private Limited	Director	01/04/2011	01/04/2011	09/05/2011	Active	NO
5	U24230GJ2011PLC065030	Sayona Industries Limited	Director	19/04/2011	19/04/2011	-	Active	NO

Name :	Mrs. Monika P Patel
Designation :	Director
Date of Birth/Age :	21.01.1992
Date of Appointment :	28.05.2011
DIN No.:	03476651

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24230GJ2011PLC065030	Sayona Industries Limited	Additional director	28/05/2011	28/05/2011	-	Active	NO
2	U24230GJ2011PTC066238	Sayona Lifescience Private Limited	Director	06/07/2011	06/07/2011	-	Active	NO
3	L28112GJ1985PLC007753	Gujarat Terce Laboratories Limited	Additional director	28/07/2011	28/07/2011	-	Active	NO

Name :	Mr. Brijesh J Patel
Designation :	Director
Date of Birth/Age :	10.08.1974
Date of Appointment :	28.05.2011
DIN No.:	03186935

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24232GJ2007PTC049872	Shamrock Chemie Private Limited	Director	03/05/2011	03/05/2011	-	Active	NO
2	U65923GJ1994PTC021164	Terce Finlease Private Limited	Director	04/05/2011	04/05/2011	-	Active	YES
3	U45400GJ2011PTC064670	Sayona Infrabuild Private Limited	Director	09/05/2011	09/05/2011	-	Active	NO
4	U72900GJ2011PTC064727	Sevenstar Techedge Private Limited	Director	09/05/2011	09/05/2011	-	Active	NO
5	U24230GJ2011PLC065030	Sayona Industries Limited	Additional director	28/05/2011	28/05/2011	-	Active	NO

Name :	Mr. Deepak Pareek
Designation :	Director
Date of Birth/Age :	07.09.1976
Date of Appointment :	28.05.2011
DIN No.:	03342407

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24232GJ2007PTC049872	Shamrock Chemie Private Limited	Director	03/05/2011	03/05/2011	-	Active	NO
2	U65923GJ1994PTC021164	Terce Finlease Private Limited	Director	04/05/2011	04/05/2011	-	Active	YES
3	U45400GJ2011PTC064670	Sayona Infrabuild Private Limited	Director	28/05/2011	28/05/2011	-	Active	NO
4	U72900GJ2011PTC064727	Sevenstar Techedge Private Limited	Director	28/05/2011	28/05/2011	-	Active	NO
5	U24230GJ2011PLC065030	Sayona Industries Limited	Additional director	28/05/2011	28/05/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Nayan Patel
Designation :	Marketing Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 19.04.2011

Names of Shareholders	No. of Shares
Natwarbhai Prajapati	200
Gujarat Tcrce Laboratories Limited, Gandhinagar, Gujarat	90000
Pareshbhai Patel	200
Deepak	200
Nipaben Patel	200
Brijesh Patel	200
Shamrak Chemic P Limited, Ahmedabad, Gujarat	9000
Total	100000

BUSINESS DETAILS

Line of Business :	Metal Recycling and Importer of Scrap
Imports :
Products :	Scarp
Countries :	Italy, South Africa

GENERAL INFORMATION

Suppliers :	Not Available
Customers :	Not Available
No. of Employees :	85 Approximately
Bankers :	Standard Chartered Bank
Facilities :	--

Banking Relations :	--
Auditors :	Not Available
Associates/Subsidiaries :	· Sayona Colors · Sayona Foundation · Sayona Infratech · Sayona Chemical · Sayona Life Science · Sayona Metals

CAPITAL STRUCTURE

AS ON 19.04.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs. 10 each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 10 each	Rs.1.000 million

FINANCIAL DATA

[all figures are in Rupees Millions]

New Company

LOCAL AGENCY FURTHER INFORMATION

Not Available

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 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	Indian Rupees
US Dollar	1	Rs.49.25
UK Pound	1	Rs.78.73
Euro	1	Rs.67.64

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.