MIRA INFORM REPORT

Report Date :

29.11.2011

IDENTIFICATION DETAILS

Name :	COSMIC FERRO ALLOYS LIMITED
Formerly Known As :	COSMIC FERRO ALLOYS PRIVATE LIMITED
Registered Office :	Sikkim Commerce House 4/1, Middleton Street, 4^th Floor, Shakespeare Sara, Kolkata-700071, West Bengal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	23.07.2003
Com. Reg. No.:	21-96622
Capital Investment / Paid-up Capital :	Rs. 74.196 Millions
CIN No.: [Company Identification No.]	U27104WB2003PLC096622
TAN No.: [Tax Deduction & Collection Account No.]	CALC03766A
PAN No.: [Permanent Account No.]	AACCC1730C
Legal Form :	A closely held public limited liability company
Line of Business :	Manufacturer of Ferro Alloys, Silicon Manganese, Ferro Silicon, Ferro Chrome and Ferro Manganese.
No. of Employees :	175 Approximately (In office + In factory)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 2393000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. 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

INFORMATION PARTED BY

Name :	Mr. Satish
Designation :	Finance Head
Contact No.:	91-33-30576563
Date :	26.11.2011

LOCATIONS

Registered Office :	Sikkim Commerce House 4/1, Middleton Street, 4^th Floor, Shakespeare Sara, Kolkata-700071, West Bengal, India
Tel. No.:	91-33-22836551/ 22836552/ 22836554
Fax No.:	91-33-22836553
E-Mail :	birla.satis@gmail.com cosmicgroup@vsnl.net cosmicgrp@hotmail.com cosmicgrp@dataone.in cosmic@cal.vsnl.net.in info@cosmicferro.com Skype id - ferroalloy4u
Website :	http://www.cosmicferro.com
Location :	Owned
Factory :	Village Ghutgoria, P O Barjoria-722168, District Bankura, West Bengal, India
Tel. No.:	91-3241-257404
Fax No.:	91-3241-256185

DIRECTORS

As on 30.09.2010

Name :

Mr. Satyanarayan Bidawatka

Designation :

Managing Director

Address :

82- 9, Ballygunge, 68, Gariahat, Kolkata-700019, West Bengal, India

Date of Birth/Age :

28.11.1947

Date of Appointment :

23.07.2003

DIN No.:

00013310

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	U51109WB1996PTC080837	Topsell Vinimay Private Limited	Managing director	08-08-96	08-08-96	-	Active	NO
2	U45201WB2002PTC095103	Pragati Realtors Private Limited	Director	03-09-02	03-09-02	-	Active	NO
3	U45201WB2002PTC095104	Cosmic Niketan Private Limited	Director	04-09-02	04-09-02	07-09-07	Active	NO
4	U27104WB2003PLC096622	Cosmic Ferro Alloys Limited	Director	23-07-03	23-07-03	-	Active	NO
5	U27109WB1998PTC087940	Adarsh Technocom Private Limited	Director	30-09-11	09-02-11	-	Active	NO

Name :

Mr. Ravi Kumar Birla

Designation :

Director

Address :

188-E, Manicktalla Main Road, Kolkata-700054, West Bengal, India

Date of Birth/Age :

05.07.1962

Date of Appointment :

23.07.2003

DIN No.:

00054438

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	U51109WB1996PTC080837	Topsell Vinimay Private Limited	Director	08-08-96	08-08-96	-	Active	NO
2	U51109WB1997PTC083160	Paraspyara Commercial Private Limited	Director	07-08-01	07-08-01	-	Active	NO
3	U45201WB2002PTC095103	Pragati Realtors Private Limited	Director	03-09-02	03-09-02	-	Active	NO
4	U45201WB2002PTC095104	Cosmic Niketan Private Limited	Director	04-09-02	04-09-02	07-09-07	Active	NO
5	U27104WB2003PLC096622	Cosmic Ferro Alloys Limited	Director	23-07-06	23-07-06	-	Active	NO
6	U74300WB2008PTC127753	Citizen Advertising Agency (India) Private Limited	Director	22-07-08	22-07-08	21-03-11	Active	NO
7	U27209WB1992PTC054524	Comet Technocom Private Limited	Additional director	30-01-09	30-01-09	-	Active	NO
8	U45201WB1995PTC071073	Aar Ess Homes Private Limited	Director	30-09-11	09-02-11	-	Active	NO
9	U27109WB1998PTC087940	Adarsh Technocom Private Limited	Director	30-09-11	09-02-11	-	Active	NO
10	U31200WB1969PTC027525	A and J Main and Company (Engineers) Private Limited	Additional director	02-07-11	02-07-11	-	Active	NO
11	U70109WB2011PTC169577	PSD Infra Projects Private Limited	Director	18-11-11	18-11-11	-	Active	NO

Name :

Mr. Satish Kumar Birla

Designation :

Director

Address :

190-A, Manicktalla Main Road, 3^rd Floor, Kankurgachi, Kolkata-700054, West Bengal, India

Date of Birth/Age :

03.11.1963

Date of Appointment :

23.07.2003

DIN No.:

00015809

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	U27109WB1998PTC087940	Adarsh Technocom Private Limited	Director	15-09-98	15-09-98	-	Active	NO
2	U45201WB1995PTC071073	Aar Ess Homes Private Limited	Director	19-06-03	19-06-03	-	Active	NO
3	U27104WB2003PLC096622	Cosmic Ferro Alloys Limited	Director	23-07-03	23-07-03	-	Active	NO
4	U74300WB2008PTC127753	Citizen Advertising Agency (India) Private Limited	Director	22-07-08	22-07-08	18-02-09	Active	NO
5	U70109WB2011PTC158740	R S B Realtors Private Limited	Director	10-02-11	10-02-11	-	Active	NO

Name :

Mr. Rajendra Nath Basuroy

Designation :

Director

Address :

82- 9, Ballygunge, 68, Gariahat, Kolkata-700019, West Bengal, India

Date of Birth/Age :

01.02.1934

Date of Appointment :

04.12.2006

DIN No.:

02008327

Name :

Mr. Pramod Omprakash Agarwal

Designation :

Director

Address :

82- 9, Ballygunge, 68, Gariahat, Kolkata-700019, West Bengal, India

Date of Birth/Age :

08.06.1951

Date of Appointment :

04.12.2006

DIN No.:

00182583

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	U17121GJ2006PLC048795	Guganram Textiles Limited	Director	31-07-06	31-07-06	02-05-11	Active	NO
2	U27104WB2003PLC096622	Cosmic Ferro Alloys Limited	Director	11-09-07	04-12-06	-	Active	NO
3	U17120WB2011PTC159132	Guganram Texcom Private Limited	Director	14-02-11	14-02-11	-	Active	NO

Name :

Mr. Nitai Chandra Pal

Designation :

Director

Address :

BE-29, Sector-I, Salt Lake, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

10.02.1946

Date of Appointment :

04.12.2006

DIN No.:

01924081

Name :

Mr. Vijay Kumar Radheyshyam Birla

Designation :

Additional Director

Address :

93, Aasha Apartments, Flat 1/C-6, 93, Deshpran Shasmal Road, Kolkata – 700033, West Bengal, India

Date of Birth/Age :

29.02.1960

Date of Appointment :

19.01.2011

DIN No.:

00540548

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	U51109WB1997PTC083396	Apollo Vinimay Private Limited	Director	04-11-97	04-11-97	-	Active	NO
2	U45201WB1995PTC071073	Aar Ess Homes Private Limited	Director	16-08-00	16-08-00	-	Active	NO
3	U27109WB2003PTC096921	Cosmic Steels Private Limited	Director	04-09-03	04-09-03	-	Active	NO
4	U27106WB1984PTC037158	Asansol Steel Castings Private Limited	Director	15-12-04	15-12-04	-	Active	NO
5	U51909WB1994PTC061901	Archana Impex Private Limited	Director	25-11-05	25-11-05	-	Active	NO
6	U27209WB1992PTC054524	Comet Technocom Private Limited	Director	19-05-06	19-05-06	-	Active	NO
7	U45201WB2002PTC095103	Pragati Realtors Private Limited	Additional director	18-05-09	18-05-09	-	Active	NO
8	U27104WB2003PLC096622	Cosmic Ferro Alloys Limited	Director	30-09-11	19-01-11	-	Active	NO

Name :

Mr. Ramamkumar Agarwal

Designation :

Additional Director

Address :

190-A, Manicktalla Main Road, 3^rd Floor, Kankurgachi, Kolkata-700054, West Bengal, India

Date of Birth/Age :

07.08.1967

Date of Appointment :

19.01.2011

DIN No.:

00540572

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	U51109WB1997PTC083396	Apollo Vinimay Private Limited	Director	04-11-97	04-11-97	-	Active	NO
2	U45201WB1995PTC071073	Aar Ess Homes Private Limited	Director	16-08-00	16-08-00	-	Active	NO
3	U45202WB1998PTC086948	Shri Vinayak Developers Private Limited	Director	18-05-01	18-05-01	-	Active	NO
4	U27109WB1981PTC034386	Goel Metal Industries Private Limited	Director	06-08-01	06-08-01	27-12-10	Active	NO
5	U27109WB2003PTC096921	Cosmic Steels Private Limited	Director	04-09-03	04-09-03	-	Active	NO
6	U27106WB1984PTC037158	Asansol Steel Castings Private Limited	Director	15-12-04	15-12-04	-	Active	NO
7	U27104WB2003PLC096622	Cosmic Ferro Alloys Limited	Director	30-09-11	19-01-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Satish
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Satyanarayan Bidawatka	147000
Ravi Kumar Birla	57000
Satish Kumar Birla	141000
Adarsh Technocom Private Limited	909000
Anand Mohta	130000
Deo Kishan Mohta	180000
D.K. Mohta and Sons HUF	150000
Jugal Kishore Birla	70000
Madhu Birla	50000
Manju Birla	50000
Parvati Devi Birla	90000
Prabhu Dayal Birla	115000
Raman Kumar Agarwal	37500
Radhey Shyam Birla	172000
Raj Laxmi Mohta	70000
Kamla Devi Maheshwari	120000
Vijay Kumar Birla	70000
Vivek Mohta	92000
Aar Ess Homes private Limited, India	260000
Mamata Bidawatka	40000
Preeti Birla	70000
Pushpa Bidawatka	75000
Pushpa Devi Birla	40000
S.N. Bidwatka and Sons HUF , India	50000
Subrata Roy	55500
Sudha Birla	32600
Suranjana Birla	38500
V.K. Birla and Sons HUF, India	50000
Archana Impex Private Limited, India	570000
Vista Vision Private Limited , India	1815000
Goel Metal Industries Private Limited, India	66000
Devi Prasad Pansdey	9000
R.S. Birla HUF	70000
Shree Khatudham Housing Project Private Limited , India	10000
Apollo Vinimay Private Limited, India	898500
Cosmic Steels Private Limited, India	300000
Velmon Tie Up Private Limited, India	319000
TOTAL	7419600

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies Corporate	69.38
Directors or relatives of Directors	30.62
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Ferro Alloys, Silicon Manganese, Ferro Silicon, Ferro Chrome and Ferro Manganese.

Products :

Item Code No. (ITC Code)	72021100
Product Description	Ferro Manganese

Item Code No. (ITC Code)	72023000
Product Description	Silico Manganese

Item Code No. (ITC Code)	NA
Product Description	Ferro Silicon

Exports :

Products :

Ferro Silicon

Countries :

• Europe
• Pakistan
• Japan

Terms :

Selling :

L/C, Cash and Credit

Purchasing :

L/C, Cash and Credit

PRODUCTION STATUS

As on 31.03.2010

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Silico Manganese	MT	79600.00	31600.00	13657.500
Ferro Chrome	MT	NA	NA	38428.720
Ferro Manganese	MT	NA	44300.00	NA
Slag	MT	NA	NA	33398.005

Notes: Installed Capacity is certified by the management being technical matter, not verified by the auditor

GENERAL INFORMATION

Suppliers :

• Menganise Ore India Limited

Customers :

Retailers and End Users

• Jindal Steel Limited
• Steel Authority of India Limited

No. of Employees :

175 Approximately (In office + In factory)

Bankers :

• State Bank of India, Commercial Branch, N.S. Road, 8, N.S. Road, Gillander House, Kolkata – 700001, West Bengal, India
• The Federal Bank Limited, Ballygunge Branch, 1/D, Mandeville Gardens, Kolkata-700019, West Bengal, India
• ICICI Bank Limited, Landmark, Race Course Circle, Vadodara 390007, Gujarat, India
• Syndicate Bank

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
(Consortium Loan Advanced by SBI and Syndicate Bank )
Cash Credit From Federal Bank	89.683	88.089
Cash Credit From State Bank of India	63.081	82.568
Cash Credit From Syndicate Bank (Secured against 1^st pari passu hypothecation charge on current assets and collateral security as 1^st pari passu charge on entire fixed assets of Archana Industries, STDR of Rs. 2.000 millions residential flat of director and personal guarantee of the director to the maximum of Rs. 50.000 millions)	43.341	26.540
Term Loan from Federal Bank	2.215	6.345
Term Loan from State Bank of India	33.308	83.287
Term Loan from Syndicate Bank	1.052	20.288
Term Loan from Syndicate Bank IV Furnace	13.166	21.921
Tern Loan from Syndicate Bank 3^rd Furnace	10.644	19.247
Term Loan from State Bank of India IV Furnace	9.952	18.032
Term Loan from Federal Bank IV Furnace	30.583	42.224
Term Loan from Federal Bank 3^rd Furnace	3.032	5.101
Export Credit Packing (SBI) (Secured against 1^st parri passu hypothecation charge on project assets and collateral security as 1^st pari passu charge on entire fixed assets of Archana industries STDR of Rs. 2.000 millions residential flat of director to the maximum of Rs. 120.000 millions)	86.067	84.782
Car Loan (Secured against hypothecation of car)	1.580	2.179
Machinery Loan (Secured against hypothecation of machinery)	2.079	4.772
Total	389.783	505.375
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Bodies and Corporate	0.750	0.846
Total	0.750	0.846

Banking Relations :	--
Auditors :
Name :	B Jain and Company Chartered Accountants
Address :	26, Strand Road, 1^st Floor, Kokata-700001, West Bengal. India
Tel. No.:	91-33-22434933/ 4/ 5
E-Mail :	pulu@vsnl.com bjain_co@yahoo.com
PAN.:	ACQPJ9965K
Related Parties :	Apollo Vinimay Private Limited Archana Impex Private Limited Aar Ess Himes Private Limited Adarsh Engineering Adarsh Techno Com Private Limited Maxworth Industries Archana Industries Citizen Advertising Agency Private Limited Comet Technocom Private Limited Pragati Realtors Private Limited Cosmic Engineers S N R K Bideatka HUF

CAPITAL STRUCTURE

After 30.09.2010

Authorised Capital of Rs. 125.000 Millions

Issued, subscribed and paid up Capital of Rs. 89.200 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
12500000	Equity Shares	Rs. 10/- each	Rs. 125.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7419600	Equity Shares	Rs. 10/- each	Rs. 74.196 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		74.196	73.096	65.976
2] Share Application Money		72.368	56.241	42.498
3] Reserves & Surplus		451.582	377.503	332.982
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		598.146	506.840	441.456
LOAN FUNDS
1] Secured Loans		389.783	505.375	522.655
2] Unsecured Loans		0.750	0.846	0.147
TOTAL BORROWING		390.533	506.221	522.802
DEFERRED TAX LIABILITIES		59.480	53.896	42.230
TOTAL		1048.159	1066.957	1006.488
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		508.881	532.430	490.658
Capital work-in-progress		113.645	11.962	13.225
INVESTMENT		1.000	1.686	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	589.906	769.437	303.605
	Sundry Debtors	353.521	268.949	306.761
	Cash & Bank Balances	194.577	117.369	64.958
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	93.753	80.445	120.864
Total Current Assets		1231.757	1236.200	796.188
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	727.011	676.609	228.438
	Other Current Liabilities	33.931	21.656	49.097
	Provisions	46.182	17.056	16.070
Total Current Liabilities		807.124	715.321	293.605
Net Current Assets		424.633	520.879	502.583
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1048.159	1066.957	1006.488

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	2695.839	3367.341	2132.248
		Other Income	77.686	25.317	37.475
		TOTAL (A)	2773.525	3392.658	2169.723
Less	EXPENSES
		Raw Material Consumed	1357.836	2110.654	1284.235
		Purchase trading of Saco Manganese	0.000	0.000	44.406
		Manufacturing Expenses	882.914	720.883	630.079
		Increase/ Decease in Stock	166.883	(34.094)	(128.025)
		Packing charges	9.447	7.478	6.904
		Payment to and Provision for Employees	51.885	34.288	25.346
		Other Administrative Expenses	130.616	237.045	138.443
		Foreign Exchange fluctuation Loss	0.837	204.187	0.000
		Preliminary Expenses	0.000	0.023	0.023
		TOTAL (B)	2600.418	3280.464	2001.411
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		173.107	112.194	168.312
Less	FINANCIAL/ INTEREST EXPENSES (D)		41.485	55.123	39.008
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		131.622	57.071	129.304
Less/ Add	DEPRECIATION/ AMORTISATION (F)		27.232	25.606	16.430
	PROFIT BEFORE TAX (E-F) (G)		104.390	31.465	112.874
Less	TAX (H)		34.710	15.425	17.412
	PROFIT AFTER TAX (G-H) (I)		69.680	16.040	95.462
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		132.660	116.320	20.858
	BALANCE CARRIED TO THE B/S		202.040	132.360	116.320
	Earnings Per Share (Rs.)		9.36	2.43	17.65

Particulars	31.03.2011
Sales Turnover (Approximately)	2790.000

Expected Sales (2011-2012) : Rs. 3000.000 Millions

The above information has been parted by Mr. Satish (Finance Head)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.51	0.47	4.40
Net Profit Margin (PBT/Sales)	(%)	3.87	0.94	5.29
Return on Total Assets (PBT/Total Assets}	(%)	6.00	1.78	8.68
Return on Investment (ROI) (PBT/Networth)		0.17	0.06	0.26
Debt Equity Ratio (Total Liability/Networth)		2.00	2.40	1.85
Current Ratio (Current Asset/Current Liability)		1.53	1.73	2.71

LOCAL AGENCY FURTHER INFORMATION

Check list by Info Agents	Available in Reports ( Yes/No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitutions of the Firm	Yes
Premises Details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	--
No. of Employees	Yes
Name of person contacted	Yes
Designation of contact person	Yes
Turnover of Firm fort last three years	Yes
Profitability for last three years	No
Reasons For Variation<>20%	No
Estimation for coming financial year	Yes
Capital in Business	Yes
Details of Sister Concern	No
Major Suppliers	Yes
Major Customers	Yes
Payment Terms	Yes
Export / Import Details (if Applicable)	Yes
Market Information	--
Litigations that the firm / Promoter involved in	--
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	--
Buyer visit details	--
Financial, if provided	No
Incorporation details, if applicable	--
Last Account filed at ROC	--
Major shareholder , if available	--

OPERATION REVIEW

They have achieved a turnover of Rs. 2695.800 Millions for the year ended 31^st March 2010. Company’s working during the year was satisfactory. The company’s production has increased. The sale prices of ferro manganese and Silico Manganese have also been showing upward movement. The board expects to do better business in the future.

CONTINGENT LIABILITIES

(Rs. in Millions)

PARTICULARS	31.03.2010	31.03.2009
Unexpired Guarantee / Letter of Credit opened by Banks	570.955	803.420
Amount to be executed on Capital A/C	Unascertained	Unascertained

FORM 8

Corporate identity number of the company	U27104WB2003PLC096622
Name of the company	COSMIC FERRO ALLOYS LIMITED
Address of the registered office or of the principal place of business in India of the company	Sikkim Commerce House 4/1, Middleton Street, 4^th Floor, Shakespeare Sara, Kolkata-700071, West Bengal, India Email : birla.satish@gmail.com
This form is for	Modification of Charge
Charge identification (ID) number of the charge to be modified	80010497
Type of charge	Book Debts Movable Property (not being pledge)
Particular of charge holder	The Federal Bank Limited, Ballygunge Branch, 1/D, Mandeville Gardens, Kolkata-700019, West Bengal, India Email : cale@federalbank.co.in
Nature of instrument creating charge	Agreement of Cash Credit Letter of Credit Agreement Single Counter Guarantee Agreement of Guarantee
Date of instrument Creating the charge	09.09.2010
Amount secured by the charge	Rs. 477.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest: The borrower shall pay interest @3.25% above the base rate of the Bank as fixed by the Bank from time to time subject to a minimum of 11% with monthly rests. The present base rate is 7.75% per annum. Terms of repayment : On demand Margin: Nil Extent and operation of the charge: By way of pari passu first charge over all the current assets in favour of the Bank the whole of the Goods, produce, merchandise and any other stocks mentioned in the Schedule i.e. the entire stock of finished goods, semi finished goods and in process raw materials like Manganese ore, etc. all book debts and other receivables bills raised advance payment made etc. by way of first charge as security stored at Village Ghutghoria, Post and P.O. Barjora District Bankura, West Bengal or wherever else Others: 1st pari passu charge over the all fixed assets of Archana Industries including land,building,factory shed at Jalan Complex, Village Baniyara,PO Domjur, District Howrah 1st charge on mortgaged property of two flats of Raman Agarwal and Pushpade vi Bidwatka Paripassu second charge on fixed assets and current assets of Cosmic Ferro Alloys Limited STDR of Rs. 2.200 Millions with SBI on paripassu basis
Short particulars of the property or asset(s) charged (including complete address and location of the property)	The whole of the Goods, produce, merchandise and any other stocks mentioned in the Schedule i.e. the entire stock of finished goods, semi finished goods and goods in process raw materials like Manganese ore, coke, quartz etc. all book debts and other receivables bills raised advance payment made etc. by way of first charge as security stored at Village Ghutghoria, Post and P.O. Barjora District Bankura, West Bengal or wherever else. 1st paripassu charge over the entire fixed assets of Archana Industries at Jalan Complex, village Baniyara, PO Domjur, District Howrah Pari passu 1st Charge on mortgaged property of two flats of Raman Agarwal and Pushpadevi Bidwatka Pari passu second charge on fixed assets and current assets of M/s Cosmic Ferro Alloys Limited
Date of instrument modifying the charge	18.04.2008
Particulars of the present modification	By this modification, at the request of the Borrower the Bank has enhanced the overall limit to Rs. 477.000 Millions against stock, book debts etc. The present limit is Cash Credit-Rs. 92.500 Millions, LC/BG- Rs. 255.000 Millions, 4 no of term loans amounting to Rs. 129.500 Millions. Other terms and conditions save as modified by these presents remain in full force.

TRADE REFERENCES

• Jindal Steel Limited
• Steel Authority of India limited
• Manganisre Ore India Limited

FIXED ASSETS

• Land
• Building
• Electrical installation
• Furniture and Fixture
• Fax Machine
• Refrigerator
• Office Equipment
• Water Filter
• Xerox Machine
• Motor Car
• Plant and Machinery
• Air Compressor
• Laboratory Equipment
• Telephone Installation
• Work Shop Equipment Television
• Hydra Crane
• Cycle

WEBSITE DETAILS:

PROFILE:

Forseeing the rapid rise in the consumption of Steel globally, Subject was formed to foray into production of Ferro Alloys, which is a major raw material input for the Steel industry. The products range of Subject includes highest quality Ferro Alloys - namely Ferro Manganese and Silico Manganese as specified by the Indian Standards Specification and also different composition required by manufacturers of alloy and stainless steel production.

Subject is an ISO-9001:2000 Certified Company and accorded the status of One Star Export House in accordance with the provisions of Foreign Trade Policy, 2004-09 by the Office of the Joint Director General of Foreign Trade, Govt. of India.

The operations of the company are directly under the overall supervision of top- level management team comprising of the Chairman, Managing Director and CEO. They will be ably associated by a highly qualified and professional board of directors backed by capable team of executives, managerial personnel, supervisors and assistants.

The management team includes -

Mr. Radhey Shyam Birla (Chairman), aged about 65 years has been appointed as the Chairman of the company. He has been entrusted to supervise the implementation of the project. He carries with him over 45 years of valued experience with a renowned corporate house.

He has pioneered in administration and was overall in charge of the group in the capacity as Vice President. He is a postgraduate in commerce from the University of Calcutta and further went on to hone his skills to procure the degree in business management. The company will gain from his vast experience, which shall cater to the needs of the growing business of highest productivity, maximum utilization, optimum sales and realization. His vast experience with the industry coupled with the excellent communication skill, his handling with ease the various gamut production lines to ensure better productivity management and implementation and worthwhile features and assets of the company.

Mr. Satya Narayan Bidawatka (M.D.), aged about 55 years has been appointed the Managing Director-cum-CEO of the company. He has in his credit over three decades of rich experience with a number of corporate houses engaged in production and operations. He has graduated as a Mechanical Engineer from the prestigious Birla Institution of Technology at Pilani in Rajasthan. They will utilize his technical expertise in identifying quality machines at competitive prices to ensure effective utilization and production of finished goods. His longstanding association and contacts with the industry will go a long way in timely acquisition of state of the art equipment for the manufacturing facilities of the company. The efficient board of directors and other executives down the line will back him.

Mr. Vijay Kumar Birla (Director Commercial), aged about 46 years has been appointed as a Commercial Director of the company. Being a Chartered Accountant and graduate in Commerce from the St. Xaviers College under the University of Calcutta, the Chairman’s eldest son, has a enviable experience of sales including exports.He has handled marketing portfolio of the other group companies for over two decades. The company when utilize his service to achieve ambitious plans to set a firm footing in the domestic and international market.

Mr. Satish Kumar Birla (Director Finance), aged about 39 years has been appointed as a Finance Director of the company. A brilliant scholar through out, he also happens to be the Chairman’s son. He has successfully completed all three professional courses namely Chartered Accountant, Cost Accountant and Company Secretary. He possesses over 17 years of experience in the fields relating to finance, accounts, legal affairs and internal management. The company will utilize his services to structure the financial and legal framework to handle the project of this magnitude.

Mr. Ravi Kumar Birla (Director Technical), aged about 42 years has been appointed as a Technical Director of the company. By dint and virtue of his being the Chairman’s son, he has a natural ability and tendency to pick up important business characteristics. He has over two decades of experience of sales, supervision and public relation. A dynamic personality, he adds the charge of youth and dynamism. He has graduated in Commerce from the University of Calcutta.

Mr Raman Agarwal (Director Commercial), aged 39 years a science graduate from the University of Calcutta has also joined hands with Mr Vijay Birla for developing and handling the domestic market. He has been in business for over two decades and handled various portfoilios of the Cosmic group. The company will utilize his experience in various commercial activities.

Cosmic Group

The promoters represent the Cosmic Group of Industries and have under their belt numerous manufacturing units engaged in the manufacture of engineering components, railway components, hardware for overhead transmission lines for electric power, manufacture of components for major steel foundries in India, manufacture of forged components for Indian Railways and foundries, manufacture of spring steel and manganese steel liners, manufacture of drop forged components for the defense sector and the Indian wagon builders, manufacture of steel castings for the foundries and wagon builders. Cosmic Group is also engaged in the business of development and promotion of real estate, both commercial and residential.

Cosmic Group is a name to reckon with in the business community in the eastern part of the country. The group made its presence felt in the early seventies in the state of West Bengal and has been founded and spear headed by a visionary and illuminate Mr. Radhey Shyam Birla.

Cosmic Group has a strong reputation for creditability and fairness and this will reflect in its dealings with its customers, stakeholders, employees, bankers, govt. agencies and other business intermediaries. The group firmly believes in total commitment, dedication and perseverance to improve ingredients to effectively showcase the extraordinary growth, ability and achieving the pinnacle and zenith amongst the vast majority.

Cosmic Group maintains a high morale amongst owners, executives, employees and workmen, all of whom are highly charge, geared and motivated to effect deliverable of highest quality. A well-defined tier system and reporting is in place, which are regularly updated and monitored. The key men include among other top management level directors, marketing team, professionals and executives, middle level office bearers, junior executives, clerks and the rest.

The turnover of the group has increased phenomenally over the years portraying an healthy achievement, keeping in place a tough competitive business scenario presently prevailing. The group is assisted and managed to keep the increasing trend which is well reflected in the summary enclosed.

The promoters hall from a very healthy and respectable business background and are well experienced in their line of business. They enjoyed a very cordial rapport among the business community and possess enormous experience in carrying on the manufacturing activities relating to manufacture, produce, sale and export of ferrous and non-ferrous metals like Silico Manganese and Ferro Manganese.

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. 51.98
UK Pound	1	Rs. 80.59
Euro	1	Rs. 69.12

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

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

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.