MIRA INFORM REPORT

Report Date :

11.11.2011

IDENTIFICATION DETAILS

Name :	MBE COAL AND MINERAL TECHNOLOGY INDIA PRIVATE LIMITED (w.e.f 22.07.2011)
Formerly Known As :	MCNALLY HUMBOLD WEDAG MINERALS INDIA PRIVATE LIMITED (w.e.f. 16.11.2011) HUMBOLDT WEDAG MINERALS INDIA PRIVATE LIMITED
Registered Office :	Ecospace Campus, 2B/11F/12 (Old Plot No II/Blk-3), (Old Plot No. AA II/BLK-3) New Town, Rajarhat, North 24, Kolkata-700156, West Bengal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	03.08.2009
Com. Reg. No.:	21-137428
Capital Investment/ Paid-up Capital:	Rs.3.493 millions
CIN No.: [Company Identification No.]	U27100WB2009PTC137428
TAN No.: [Tax Deduction & Collection Account No.]	CALH03558C
PAN No.: [Permanent Account No.]	AACCH2574H
Legal Form :	Private Limited Liability Company.
Line of Business :	Subject is engaged in the business of mining and exploration of coal ores.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 500000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is the result of demerger of Mineral division of Humboldt Wedag India Private Limited. Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered normal 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	Ecospace Campus, 2B/11F/12 (Old Plot No II/Blk-3), (Old Plot No. AA II/BLK-3) New Town, Rajarhat, North 24, Kolkata-700156, West Bengal, India
Tel. No.:	91-33-3014 2350 / 6628 2350 / 66281111 / 30141111
Fax No.:	91-33-30142233 / 2234 / 66282233 / 2234
E-Mail :	salesmbehumboldt@mbecl.co.in indrachatterjee@mbecl.co.in
Website :	http://www.mbehumboldt-cmt.com http://www.mcnallybharat.com
Factory :	Plot 1A, Sector-B, Industrial Growth Centre, Nimpura, P.O. Rakhajungal, Kahragpur-721301, Midnapur, West Bengal, India
Tel. No.:	91-3222-733336
Fax No.:	91-3222-33358
Branch Office 1:	A-402, Kailash Industrial Complex, Park Site, Vikhroli (West), Mumbai 400079, Maharashtra, India
Tel. No.:	91-22-25171450 / 1451
Fax No.:	91-22-25171452
E-Mail :	suresh.ballani@mbecl.co.in
Branch Office 2 :	Flat Number 2 A, 2nd Floor, Prem Eden, DEV Appartment 34/58, 28th Cross Street, Indira Nagar, Adyar, Chennai 600020, Tamilnadu, India
E-Mail :	ramaswamy.pp@mbecl.co.in
Branch Office 3 :	151, Co-operative Colony Bokaro Steel City, District Bokaro, Jahrkhand, India
Tel. No.:	91-6542-49684
Fax No.:	91-6542-49722

DIRECTORS

(AS ON 30.09.2010)

Name :

Mr. Deepak Khaitan

Designation :

Director

Address :

10 Queens Park, Ballygunge, Kolkata-700019, West Bengal, India.

Date of Birth/Age :

09.05.1955

Date of Appointment :

14.01.2010

DIN No :

00023780

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	L01132WB1949PLC017715	Williamson Magor and Company Limited.	Director	13/08/1981	13/08/1981	-	Active	NO
2	L01132AS1915PLC000200	B and A Limited	Director	26/09/1986	26/09/1986	22/03/2007	Active	NO
3	L67120AS1971PLC001358	Williamson Financial Services Limited	Director	26/11/1991	26/11/1991	-	Active	NO
4	U67120WB1993PLC058690	Babcock Borsig Limited	Director	29/04/1993	29/04/1993	-	Active	NO
5	L31402WB1934PLC007993	Eveready Industries India Limited	Director	10/8/2011	23/11/1994	-	Active	NO
6	L45202WB1961PLC025181	McNally Bharat Engineering Company Limited	Whole-time director	12/8/2011	17/11/1995	-	Active	NO
7	L15491WB1977PLC031134	Moran Tea Company (India) Limited	Director	23/06/2003	23/06/2003	-	Active	YES
8	L24232WB1987PLC042956	Kilburn Engineering Limited	Director	16/07/2004	16/07/2004	-	Active	NO
9	L51109WB1998PLC087076	Mcleod Russel India Limited	Director	16/02/2005	16/02/2005	-	Active	NO
10	U85110WB1995PLC115165	Powercell Battery India Limited	Director	7/10/2005	7/10/2005	-	Active	YES
11	L15491WB2002PLC112000	Doom Dooma Tea Company Limited	Director	23/01/2006	23/01/2006	-	Not Available for eFiling	NO
12	L28999WB1943PLC133247	McNally Sayaji Engineering Limited	Director	6/11/2009	15/09/2008	-	Active	NO
13	U27100WB2009PTC137428	MBE Coal and Mineral Technology India Private Limited	Director	14/01/2010	14/01/2010	-	Active	NO
14	U74999WB2011PLC162493	Litez India Limited	Director	10/5/2011	10/5/2011	-	Active	NO

Name :

Mr. Bhagarbati Prasad Misra

Designation :

Director

Address :

346, DDA Flats Pocket-2, Sector-9, Dwarka, New Delhi-110075, India

Date of Birth/Age :

17.10.1952

Date of Appointment :

27.10.2009

DIN No :

01320170

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	U29253DL1976PTC216812	Humboldt Wedag India Private Limited	Director	29/06/2007	8/11/2006	31/03/2009	Active	NO
2	U27100WB2009PTC137428	MBE Coal and Mineral Technology India Private Limited	Director	27/10/2009	27/10/2009	31/03/2011	Active	NO
3	U29253DL2010PTC211352	Westech Process Equipment India Private Limited	Director	13/12/2010	13/12/2010	-	Active	NO

Name :

Mr. Prasanta Kumar Chandra

Designation :

Director

Address :

Flat No-5J, Tower III, City High,85, P A Shah Road, Kolkata-700033, West Bengal, India.

Date of Birth/Age :

01.02.1957

Date of Appointment :

27.10.2009

DIN No :

01919454

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	U45400WB2008PLC123453	McNally Bharat Infrastructure Limited	Director	3/3/2008	3/3/2008	-	Active	NO
2	U27100WB2009PTC137428	MBE Coal and Mineral Technology India Private Limited	Director	27/10/2009	27/10/2009	-	Active	NO
3	L45202WB1961PLC025181	McNally Bharat Engineering Company Limited	Whole-time director	14/02/2011	14/02/2011	-	Active	NO

Top of Form

Bottom of Form

Name :

Mr. Gurudas Mustafi

Designation :

Director

Address :

1/524, 1^st Floor, Jodhpur Park, Kolkata-700068, West Bengal, India.

Date of Birth/Age :

20.02.1953

Date of Appointment :

27.10.2009

DIN No :

02879447

Name :

Mr Dharmendra Tuteja

Designation :

Director

Address :

183, Mndakini Enclave, Alaknanda, New Delhi-110019, India

Date of Birth/Age :

30.07.1966

DIN No :

02684569

Name :

Mr. Sampath Kumar Raman

Designation :

Director

Address :

204, Tower 2 Palms, South City 1, Gurgaon-122001, Haryana, India

Date of Birth/Age :

04.09.1959

DIN No :

00495192

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	U55101DL1996PTC081170	Four Seasons Luxury Resorts (India) Private Limited	Alternate director	4/11/1996	4/11/1996	23/09/2010	Active	NO
2	U74899DL1989PTC037818	Gea Westfalia Separator India Private Limited	Director	29/09/2003	29/09/2003	1/4/2008	Active	NO
3	U34300PN2006PTC021867	Voss Exotech Automotive Private Limited	Director	18/01/2006	18/01/2006	-	Active	NO
4	L29130MH1962PLC012340	Fag Bearings India Limited	Additional director	21/04/2011	26/04/2007	-	Active	NO
5	U27109TZ1949PTC008637	Needle Industries (India) Private Limited	Director	7/8/2007	5/6/2007	-	Active	NO
6	U17200PN2007FTC130420	Fruit Of The Loom India Private Limited	Director	5/7/2007	5/7/2007	14/04/2009	Active	NO
7	U27100WB2009PTC137428	MBE Coal and Mineral Technology India Private Limited	Director	3/8/2009	3/8/2009	14/01/2010	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
MBE Holdings PTE Limited, India	349322
Prabir Kumar Ghosh	1
Total	349323

Equity Share Breakup

(AS ON 30.09.2010)

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	99.99
Others	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of mining and exploration of coal ores.
Products :	· Gravity Separation · Screening and Crushing · Pumps and Handling Equipment · Dewatering Equipment

PRODUCTION STATUS AS ON 313.03.2010

Particulars	Unit	Installed Capacity	Actual Production
Slurry Pumps	Nos	42	9
Vibrating screen	Nos	72	3
Vibrating screen centrifuge	Nos	10	2
Batac jig. Etc	Tonne	150	44.041
Decanter centrifuge including solid bowl	Nos	80	55
Other spares	Nos	100	--

GENERAL INFORMATION

Customers :	· Bhusan Steel Limited · Orissa Mining Corporation · Anrak Aluminium Limited · Utkal Alumina Limited
No. of Employees :	Not Available
Bankers :	· ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda-390015, Gujarat, India.
Facilities :	Not Available

Banking Relations :	--
Auditors :
Name :	Lovelock and Lewes Chartered Accountant
Address :	Y-14, Block-EP, Sector V, Salt Lake Electronic Complex, Kolkata-700091, West Bengal, India
Income-tax PAN of auditor or auditor’s firm :	AABFL58878L
Ultimate Holding company:	· McNally Bharat Engineering Company Limited
Holding Company :	· MBE Holding PTE Limited, Singapore
Fellow subsidiaries and other companies which does not exercise control or significant influence over the Company :	· MBE coal and Mineral Technology GmbH · EWB-MBE International Kornyezetvedelmi Kft, Hungary (EWB-MBE) (formerly EWB-MBE International Environmental Limited) · McNally Sayaji Engineering Limited (MSEL) · McNally Bharat Equipments Limited (MBEL) · McNally Bharat Infrastructure Limited (MBIL) · EWB Kornyezetvedelmi Kft, Hungary

CAPITAL STRUCTURE

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Share	Rs.100/- each	Rs.120.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
349323	Equity Share	Rs.10/- each	Rs.3.493 millions

Of the above:

· 10000 Equity shares are allotted as fully paid up in cash

· 339323 Equity Shares are allotted as fully paid up pursuant to a contract without payment being received in cash and held by its holding company, MBE Holding PTE Limited and its nominee.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		3.493
2] Share Application Money		0.000
3] Reserves & Surplus		133.920
4] (Accumulated Losses)		0.000
NETWORTH		137.413
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		137.413
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		13.179
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		12.534
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	89.244
	Sundry Debtors	490.990
	Cash & Bank Balances	23.294
	Other Current Assets	0.060
	Loans & Advances	55.869
Total Current Assets		659.457
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	172.041
	Other Current Liabilities	255.864
	Provisions	119.852
Total Current Liabilities		547.758
Net Current Assets		111.700
MISCELLANEOUS EXPENSES		0.000
TOTAL		137.413

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010
	SALES
		Sale of Goods and Equipments	677.132
		Technical Services Revenue	52.963
		Other Income	17.263
		TOTAL (A)	747.358
Less	EXPENSES
		Project Expenses	542.278
		Employee Remuneration and Benefits	71.920
		Administrative and Other Expenses	67.217
		Selling Expenses	6.386
		TOTAL (B)	687.801
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		59.557
Less	FINANCIAL EXPENSES (D)		19.146
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		40.411
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.535
	PROFIT BEFORE TAX (E-F) (G)		34.876
Less	TAX (H)		18.192
	PROFIT AFTER TAX (G-H) (I)		16.684
Less	APPROPRIATIONS
		Transfer to General Reserve	1.668
		Proposed Dividend	3.493
		Tax on Dividend	0.580
	BALANCE CARRIED TO THE B/S		10.943
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	9.300
	TOTAL EARNINGS		9.300
	IMPORTS
		Purchase of Materials	35.915
	TOTAL IMPORTS		35.915
	Earnings Per Share (Rs.)		47.76

KEY RATIOS

PARTICULARS		31.03.2010
PAT / Total Income	(%)	2.23
Net Profit Margin (PBT/Sales)	(%)	4.78
Return on Total Assets (PBT/Total Assets}	(%)	5.18
Return on Investment (ROI) (PBT/Networth)		0.25
Debt Equity Ratio (Total Liability/Networth)		3.99
Current Ratio (Current Asset/Current Liability)		1.20

LOCAL AGENCY FURTHER INFORMATION

Note:

The Registered Office has been transferred from 41, Chowringhee Road, 4^th Floor, Kanak Building, Kolkata-700071, West Bengal, India to the present address with effect from 14.05.2010

FINANCIAL REVIEW:

This being the first audited accounts of the Company and for the year, comparisons can only be made for the previous year, with the Minerals Division of Humboldt Wedag India Private Limited on a fiscal year basis.

Continuing the trend growth of the Company in last few years. Turnover of the full fiscal year 2010 including Other Income increased Rs.1104.000 millions up by 38% over the previous year’s Turnover of the Minerals Division of Humboldt Wedag India Private Limited prior to Demerger. This is the first time that Rs.1000.000 million turnover has been achieved by this division.

Profit after Tax during the year also increased significantly to Rs.31.000 million compared to loss of Rs.32.000 millions during the previous year. This data is, of course, for the Coal and Mineral Division and is not comparable with the standalone Company results but is an indication of performance for statistical purposes only.

For the period for which accounts have been audited with respect to Humboldt Wedag India Private Limited, post demerger, the turnover including other income was Rs.747.360 millions and Profit after Tax was Rs.17.000 millions for an eight month period post demerger.

OPERATIONAL HIGHLIGHTS:

Order Book:

The market environment for the company is quite competitive. However, in view of strong technological support of the new Holding Company and technical tie-ups, the Company was successful in increasing Order Book to Rs. 1735.000 millions as on 31.03.2010 as against Rs.1288.000 millions as on 04.08.2010 i.e. the date of formation on demerger.

CONTINGENT LIABILITY:

Demand for sales tax aggregating to Rs.45.550 millions for the financial year 2001-02, 2003-04, 2004-05, 2005-06, 2006-07 and 2006-07 is disputed by the company against which the company has preferred an appeal. The Probable cashflow in respect of the above matter is not determinable at this stage.

FORM 8:

Corporate identity number of the company	U27100WB2009PTC137428
Name of the company	HUMBOLDT WEDAG INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Ecospace Campus, 2B/11F/12 (Old Plot No II/Blk-3), (Old Plot No. AA II/BLK-3) New Town, Rajarhat, North 24, Kolkata-700156, West Bengal, India E-Mail Id: indra.chatterjee@mbecl.co.in
This form is for	Creation of charge
Type of charge	· Book Debts · Floating charge
Particular of charge holder	ICICI Bank Limited, Landmark Race Course Circle, Alkapuri, Baroda-390015, Gujarat, India E-Mail Id: renu.agarwala@icicibank.com
Nature of instrument creating charge	Deed of Hypothecation dated 01.07.2010
Date of instrument Creating the charge	01.07.2010
Amount secured by the charge	Rs.550.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	a) Rate of Interest ROI: As per the sanction letter issued/ to be issued by the bank from time to time. b) Terms of Repayment Repayment as per the sanction letter issued (Sanctioned Letter No.01/E01KOL/26531 dated 24.06.2010) c) Margin Inventory: 24%, Book Dents: (Cover Period 90 days): 25% d) Extent and operation of the charge First charge over the current assets of the company. e) Others NA
Short Particulars of the property charged	First Charge over the current assets including book dents of the company.

FIXED ASSETS:

Tangible Assets

· Leasehold Land

· Buildings

· Plant and Machinery

· Office Equipment

· Furniture and Fixture

· Motor Car

· Computers

Intangible Assets

· Software

AS PER WEBSITE DETAILS:

KEY PEOPLE:

1. Mr. Deepak Khaitan
Chairman, McNally Bharat Engineering Co Limited.

Mr. Deepak Khaitan is the eldest son of Mr. B.M. Khaitan and a renowned industrialist. Mr. Khaitan’s company Eveready Industries India Limited is one of the most renowned and enduring FMCG companies with the operations entrenched in the country for over 100 years. He has in-depth exposure to and over 30 years of experience in steering diverse business enterprises in India and has gained considerable experience and expertise in management of Tea, Batteries and Engineering Industries.

Mr. Khaitan is the Executive Chairman of Mcnally Bharat Engineering Company Limited and Non-Executive Vice-Chairman of Eveready Industries India Limited, Chairman of McNally Sayaji Engineering Limited and a Director of the Williamson Magor Group of Companies along with Directorship in many other companies. Mr. Deepak Khaitan secured First class in B.Com (Hons.) from St. Xaviers College and thereafter moved to Geneva to complete his MBA.

2. Mr. Shambhu Prasad 
MD, McNally Sayaji Engineering Limited. 

Mr Shambhu Prasad is presently the Managing Director of McNally Sayaji Engineering Limited.

He is a Mechanical Engineer from BIT, Sindri. He has over 39 years rich experience in the Engineering Industry. Prior to joining MBE, he worked in various capacities in Durgapur Steel Plant, Tata Robins Fraser and TEGA . He has been with MBE since 1984, initially in Projects and Contracts Division and then moving over to the Manufacturing Units, where he was the Senior Vice President of the Product Division.

3. Mr. P. K. Chandra
Whole Time Director and COO, McNally Bharat Engineering Co Limited.

Mr. Chandra is a Mechanical Engineer, a Cost Accountant and has done his Post-graduation in Marketing Management. He has a brilliant academic record to his credit. He was 1977 batch all-branch topper in engineering from Bengal Engineering College, Shibpore. Later he secured All India First Rank in ICWA final examination in 1984.

He has approximately 30 years of experience in various Multi-National and professionally managed Companies located at Kolkata, Mumbai and Jakarta (Indonesia) in the field of Design and Engineering, Manufacturing, Project Management, Operations Management and Corporate Planning.

He has been associated with various Institutes like the Institute of Cost and Works Accountants - India and the Mumbai University Master of Management Science Programme as a part-time Faculty Member on Finance Management, Management Accounting, Operations Management, Project Management etc.   He has also acted as a UNDP Consultant at Dhaka for conducting a training programme at Institute of Cost and Management Accountants Bangladesh for management subjects, including Project Cost Control.

4. Mr. P. K. Ghosh 
Wholetime Director and Group CFO

Prabir  Ghosh, 49 years, is a qualified Chartered Accountant (trained in Price Waterhouse) with over 25 years of experience in the areas of Financial Policies and Systems, Corporate Finance, Treasury Management, Manufacturing Accounting, International Finance including GDR, ECB and Suppliers credit, Taxation, Commercial Function including export, import, purchase, exim matters, handling  and leading techno-commercial team for large projects, information system development, General Management, Industrial relations and Corporate Strategy. Till 1998 he was Sr Vice-President (Treasury), heading financial  and commercial functions of India Foils Limited.  Between 1999-2001 he served as President in IFB Agro Industries Limited., having businesses in distillery, Liquor, marine processing and export. Since November 2001 he is working as Chief Financial Officer in MBE. He has played a crucial role in re-engineering process and repositioning of the Company to its current form.

He is serving as an active member in different committees and sub-committees (both in Eastern India and at national level) of CII, Bengal Chamber, and Indian Chamber. Mr. Ghosh also is a visiting guest faculty of Globsyn Business School.

5. Mr. Jochen Schwerdtfeger 
MD, MBE Coal and Mineral Technologies GmbH

Jochen Schwerdtfeger was born in 1953. He got his Master Degree in Mining Engineering at Clausthal Mining University in 1980. In March 1980, he was employed by KHD Humboldt Wedag, Germany as a Process Engineer with main activities in commissioning coal washing plants. In 1983/84 he headed the installation and commissioning of a six million ton/ year coal processing plant in China. In 1985 Schwerdtfeger took over the global sales responsibility for coal preparation plants. He became Sales Director for the entire Coal and Minerals business of Humboldt Wedag in 1989, while simultaneously heading the sales for Asia region. In 1994 he became Managing Director for the entire Coal and Minerals business of Humboldt Wedag, which position he maintained after the acquisition of the Coal and Minerals business by MBE in the middle of 2009, afterwards the company is renamed as MBE Coal and Mineral Technologies GmbH.

6. Mr. Gurudas Mustafi 
CEO and Director, McNally Humboldt Wedag Minerals India Private. Limited.

Mr. Mustafi after his graduation in Science from Calcutta University completed his 5 years Mechanical Engineering from the prestigious Indian Railways Institute of Mech.and Elect Engineering with distinction.

He has an experience of more than 30 years in Marketing and Sales, Business Development, Manufacturing, Project Management and Execution, Operation Management and Corporate Planning having served in Government, Multi National and professionally managed companies in different locations.

Widely experienced in coal and mineral beneficiation technology and having set up in India a number of coal Washeries with different processes for both Public and Private Sectors, he is a well acknowledged figure in this field.

He is a member of the Coal Preparation Society of America and a Life Member of the Coal Preparation Society of India and an active participant in the International Coal Preparation Congresses besides having chaired and presented a number of technical papers on mineral beneficiation in different seminars in India and abroad.

7. Mr. Johannes Kottmann 

MD, MBE Minerals SA (Pty) Limited

Mr. Johannes Kottmann holds a diploma “Certified Industrial Officer” (Industriekaufmann) obtained in Germany (1983) as well as a B-Com Degree in Industrial Management from the Business School of Economics in Cologne, Germany (1986)

He has worked for several subsidiaries in the KHD Group since 1980 in Germany, France, Dubai, Switzerland and South Africa in coal and minerals processing, cement and aluminium industries and has gained over 30 years of international experience in commercial, contract and project management as well as project finance.

He has served in various capacities over the last 23 years in South Africa of which 15 years in General Management as Managing Director and has secured and / or executed major industrial projects in South Africa in coal, iron ore, cement and aluminium.

He has also served as non-executive director on the board of Deutz Diesel Power, a DEUTZ / Hudaco Industries joint venture company for industrial diesel engines in South Africa.

8. Mr. Sujoy Banerjee
President - Group Human Resources and Organizational Development

Sujoy completed his schooling from Don Bosco Park Circus in 1984 and then went on to do his Graduation in Political Science from Jadavpur University in 1987. Between 1988-1990 he went to Xavier Institute of Social Service, Ranchi where he completed his PGDPM and IR.

He was the NIPM Silver Medallist of his Batch of 1990. Sujoy started his career at Jamshedpur with Tata Motors (erstwhile Telco) and then over the last 21 years he has worked in various capacities in Dunlop, ICI India Limited., Philips India Limited, BOC India Limited,Organon India Limited. He has been part of the Williamson Magor Group since 2003 and his last assignment was with Eveready Industries India Limited as Vice President - Human Resources.

He has worked on various challenging assignments across the entire band-width of human resource processes - industrial relations, organizational development, organizational re-structuring, performance management, talent development and management, employee engagement etc. He has actively served on various committees of professional bodies like CII (ER) - Sub-committe on TQM and HRD, Bengal Chamber of Commerce and Industry and for the last 3 years has been serving as the President of National HRD Network, Kolkata Chapter.

Sujoy has also been actively involved in developing young professionals through his association with various Business Schools in Kolkata and had been actively involved with ICFAI Business School, Kolkata till recently.

SUBSIDIARY COMPANIES:

MBE has three subsidiary companies:-

MBE has a controlling stake of 87% in McNally Sayaji Engineering Limited.(MSEL), manufacturing crushing, screening and milling equipment, pressure vessels, material handling equipment, process equipment etc. There are four factories under MSEL - Kumardhubi I and II units, Asansol, Bangalore and Vadodara. A new factory is under construction on 40 acres land at Savali in Vadodara.

MBE Mineral Technologies Pte Limited

In 2009, MBE acquired the 155 year old Coal and Minerals Technology (CMT) Division of KHD Humboldt Wedag. MBE Mineral Technologies Pte Limited. (formerly KHD Humboldt Wedag – CMT), has the process knowhow and experience of designing mineral beneficiation plants and coal washeries using both Heavy Media and Jigging processes. It is the global leader in Jigging Technology with its brand name ‘BATAC’, widely used for beneficiation of Coal, Iron Ore and other minerals. 

MBE Mineral Technologies Pte Limited operates through four subsidiaries :

· MBE Coal and Minerals Technology GmbH, Cologne, responsible for markets in Europe, North and South America, Russia and China

· MBE Minerals SA Pty Limited, South Africa is responsible for Africa market

· McNally Humboldt Wedag Minerals India Private Limited is responsible for Indian market

· Cologne Engineering GmbH is a manufacturing unit based in Cologne, primarily making equipment for the cement Industry

CORE TECHNOLOGIES:

MBE Holdings has the capability to design, engineer, supply equipment, execute on turnkey EPC basis and operate complete process plants.

Apart from leadership in Jigging Technology, MBE Holding’s wet type high, medium and low intensity Magnetic Separators are well accepted worldwide. Their improved pneumatic floatation system has proven its technical and economic benefits in coal as well as in the minerals market.

Some of our patented technologies:

· ROMJIG for deshaling of coal (25 to 400 mm).

· BATAC JIG for separation of all kinds of minerals (0.5 to 150 mm). Over 300 units sold worldwide for beneficiating coal and other minerals

· JONES wet high intensity magnetic separators (WHIMS) is highly efficient for separation of low magnetic minerals, upgrading of non-magnetic minerals, robust design requiring less maintenance. Over 100 units sold worldwide

· PERMOS medium intensity magnetic separator (MIMS). Drum type separator of simple design using powerful permanent magnets. Low capital operation costs, easy maintenance and operation, low wear rates.

· PNEUFLOT pneumatic floatation is suitable for all kinds of minerals. Unique design, no rotating parts. Low energy consumption and less wear and tear. Over 50 units sold globally

· VIBRATING SCREENS, available up to 3.6 meters width in circular and linear motion. Over 500 units sold

· PALLA vibrating mill for fine grinding of chemicals, Ceramics, Refractories and ores. Over 150 units sold worldwide.

In addition, MBE Holdings has licensed Technology from:

· WESTECH for solid-liquid separation with sedimentation / filtration of all kinds of minerals

· AKW for gravity separation of fines with Hydrocyclones, Spiral Concentrators and Upstream Classifiers.

EWB Kornyezetvedelmi Kft. - Hungary

A 100% subsidiary of MBE, EWB Kft. is one of the leading Pneumatic conveying and ash handling solution providers in the world and has over 45 years of experience in Bottom Ash, Coarse Ash and Fly ash handling technologies.

EWB Kft. originated from Eroterv Power Plant Engineers, a company formed by the Hungarian government to set up power plants on turnkey basis in Hungary and elsewhere in Europe. The Ash Handling Division of Eroterv was formed in 1955. In 1990, Wagner Biro, Austria, one of the leading companies in Europe acquired 50% stake in the ash handling division and a new entity Eroterv Wagner-Biro Limited. was created. By 2000, Wagner-Biro increased its stake to 90%. Subsequently, following a corporate decision to hive off the power plant manufacturing business, Wagner -Biro sought to divest its stake in EWB.

MBE had a collaboration agreement with EWB since 1997 for setting up ash handling systems in India. When the sale of EWB came up, MBE acquired the shares of EWB from Wagner Biro and thereafter the balance 10% from the government and today EWB Kornyezetvedelmi Kft. is a 100% subsidiary of MBE.

EWB Kft. has executed over 75 plants of various types till date employing either the hydraulic wet system or pneumatic dry system. EWB has built plants in Germany, Hungary, Austria, The Czech Republic, Yugoslavia, Romania, Turkey, Greece and Indonesia.

EWB is a pioneer in the field of Dense Phase Pneumatic Conveying Systems and has built 40 such plants all over the world.

EWB works closely with the Budapest Technical University on technology development and testing. A 30 TPH pilot plant is also installed at the University by EWB Kft. to undertake tests on difficult material prior to designing the handling systems.

McNally Bharat Infrastructure Limited.

McNally Bharat Infrastructure Limited. (MBIL) was primarily setup as an independently run Design Engineering Consultancy Division to work for various important engineering and infrastructure projects of India and abroad both for the MBE Group of Companies as well as for any other engineering and infrastructural EPC company.

MBIL is led by an experienced and renowned team of over around 100 engineers from various disciplines like mechanical, structural, civil, etc.

MBIL provides design engineering services for steel plant, power plant, DRI, coal washery, mineral beneficiation, material handling and other industrial projects. MBIL also provides infrastructural design engineering consultancy in the areas of commercial and residential buildings as well as transport infrastructures like roads, flyovers etc. Going by the past experience and records of successful project completion, the core competency of MBIL engineering team is in Basic and Mechanical Engineering related to Industrial Material Handling, including Civil, Structural, Electrical, Pipelines and Utility engineering. Our design and detailing team comprises of experienced Civil, Structural, Mechanical and Electrical Engineers, having special skills and experience acquired through first hand involvement in prestigious projects. Besides, using of Indian Standard Code of Practices, we have close familiarity with International codes of practices, as well as norms and practices being followed by the prime consultants of the country such as M N Dastur and Company, DCPL, EIL, NTPC, MECON, UHDE, CMPDIL, POWERTEC etc.

MBIL is devoting resources to standardize and optimize design engineering using innovative processes and cutting edge technology and tools to redefine the standards of quality and on-time performance in design engineering, thereby adding value to its clients by exceeding their expectations in project delivery.

MBIL is currently excuting a housing project "MBE Palazzo" in Asansol.

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	Indian Rupees
US Dollar	1	Rs.49.78
UK Pound	1	Rs.80.10
Euro	1	Rs.68.81

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		44

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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.