MIRA INFORM REPORT

Report Date :

13.10.2011

IDENTIFICATION DETAILS

Name :	SHYAM STEEL INDUSTRIES LIMITED
Formerly Known As :	SHYAM SHREE STEELS LIMITED
Registered Office :	Shyam Tower, EN 32, Sector – V, Salt Lake City, V, Kolkata – 700091, West Bengal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	08.03.2002
Com. Reg. No.:	21-094339
Capital Investment / Paid-up Capital :	Rs.65.000 Millions
CIN No.: [Company Identification No.]	U27100WB2002PLC094339
TAN No.: [Tax Deduction & Collection Account No.]	CALS09603G
PAN No.: [Permanent Account No.]	AAGCS3838R
Legal Form :	A closely held Public Limited Liability Company.
Line of Business :	Manufacturer of Re-Bars and Structural Steel

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 5632000
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)

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. Sandeep
Designation :	Finance Executive
Date :	01.10.2011

LOCATIONS

Registered Office :	Shyam Tower, EN 32, Sector – V, Salt Lake City, V, Kolkata – 700091, West Bengal, India
Tel. No.:	91-33-40074007
Fax No.:	91-33-40074010
E-Mail :	marketing@shyamsteel.com export@shyamsteel.com pc@shyamsteel.com finance@shyamsteel.com
Website :	www.shyamsteel.com
Branches :	Located At : · Andhra Pradesh · Assam · Chattisgarh · Delhi · Haryana · Karnataka · Orissa · Tamil Nadu · Uttar Pradesh · Kerala

DIRECTORS

AS ON 30.09.2010

Name :

Mr. Shyam S. Beriwala

Designation :

Managing Director

Address :

CE – 108, Salt Lake City, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

21.01.1947

Date of Appointment :

20.06.2008

Din No.:

00006215

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
U51109WB1992PTC056738	BRIGHT HORIZON IMPEX PRIVATE LIMITED	Director	21-05-99	21-05-99	-	Amalgamated	NO
U65999WB1985PTC039875	SAJAN FINANCIERS AND COMMERCIALS PRIVATE LIMITED	Director	15-01-01	15-01-01	-	Active	NO
U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Whole-time director	20-06-08	08-03-02	-	Active	NO
U27101WB2002PTC094472	SGI ISPAT PRIVATE LIMITED	Director	05-04-02	05-04-02	01-04-08	Active	NO
U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	02-05-06	02-05-06	25-03-11	Active	NO
U70101WB2006PTC110700	SHYAMSREE TOWERS PRIVATE LIMITED	Director	20-07-06	20-07-06	-	Active	NO
U70101WB2006PTC110737	LAKEVIEW BUILDERS PRIVATE LIMITED	Director	24-07-06	24-07-06	-	Active	NO
U24121WB1975PTC030089	DIN CHEMICALS AND COATINGS PRIVATE LIMITED	Director	12-04-07	12-04-07	-	Active	NO
U27100WB2007PLC115235	SHYAM STEEL METALLICS LIMITED	Director	18-04-07	18-04-07	-	Active	NO
U45400WB2007PTC116138	PUSPA NIKETAN PRIVATE LIMITED	Director	28-05-07	28-05-07	-	Active	NO
U27102WB2002PTC095374	SHREEGOPAL HI-TECH PRIVATE LIMITED	Director	12-06-07	12-06-07	-	Amalgamated	NO
U67120WB2006PTC112242	YASHASHVI SECURITIES PRIVATE LIMITED	Director	27-09-08	31-08-07	-	Active	NO
U51109WB2005PTC106571	VICTOR VANIJYA PRIVATE LIMITED	Additional director	12-10-07	12-10-07	-	Amalgamated	NO
U70101WB2005PTC104566	LIBERAL HOUSING PRIVATE LIMITED	Additional director	12-10-07	12-10-07	-	Amalgamated	NO
U01134WB2010PTC145281	PB FARM HOUSE PRIVATE LIMITED	Director	15-04-10	15-04-10	-	Active	NO
U40109WB2010PTC154127	SHYAMSTEEL POWER PRIVATE LIMITED	Director	18-10-10	18-10-10	-	Active	NO
U40105WB2010PTC154125	SHYAMSTEEL ENERGY PRIVATE LIMITED	Director	18-10-10	18-10-10	-	Active	NO
U01119WB2010PTC154124	SHYAMSTEEL AGRO PRIVATE LIMITED	Director	18-10-10	18-10-10	-	Active	NO
U52190WB2010PTC155464	VAIKUNTHA TRADECOM PRIVATE LIMITED	Director	07-12-10	07-12-10	-	Active	NO
U52190WB2011PLC156940	CHITRALEKHA MERCHANTS LIMITED	Director	10-01-11	10-01-11	-	Active	NO
U28999WB1991PLC051823	SOVA ISPAT LIMITED	Additional director	10-01-11	10-01-11	-	Active	NO
U52190WB2011PTC168098	DAKSHA TIE-UP PRIVATE LIMITED	Director	23-09-11	23-09-11	-	Active	NO
U52190WB2011PTC168116	BRIGHT DEALTRADE PRIVATE LIMITED	Director	26-09-11	26-09-11	-	Active	NO
U52190WB2011PTC168114	ANANT VINTRADE PRIVATE LIMITED	Director	26-09-11	26-09-11	-	Active	NO
U52190WB2011PTC168103	AVANEESH DEALMARK PRIVATE LIMITED	Director	26-09-11	26-09-11	-	Active	NO

Name :

Mr. Lalit Breiwala

Designation :

Whole Time Director

Address :

CE – 108, Salt Lake City, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

14.12.1968

Date of Appointment :

20.06.2008

Din No.:

00006198

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
U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Whole-time director	20-06-08	08-03-02	-	Active	NO
U27310WB2005PTC102936	RANCHI CASTINGS PRIVATE LIMITED	Director	04-05-05	04-05-05	-	Active	NO
U51909WB2005PTC103002	ADARSH TIE-UP PRIVATE LIMITED	Director	06-05-05	06-05-05	-	Amalgamated	NO
U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	25-05-05	25-05-05	-	Active	NO
U70101WB2006PTC109020	LOTUS MANSION PRIVATE LIMITED	Director	20-04-06	20-04-06	-	Active	NO
U45201WB2006PTC109007	VASUDEO ENCLAVE PRIVATE LIMITED	Director	20-04-06	20-04-06	-	Active	NO
U70101WB2006PTC109019	SWASTIKA MANSION PRIVATE LIMITED	Director	20-04-06	20-04-06	-	Active	NO
U45201WB2006PTC109008	SREENATH PROMOTERS PRIVATE LIMITED	Director	20-04-06	20-04-06	-	Active	NO
U70101WB2006PTC109018	MANGALAM MANSION PRIVATE LIMITED	Director	20-04-06	20-04-06	-	Active	NO
U74140WB2006PTC109267	SHYAM TECHNICAL SERVICES PRIVATE LIMITED	Director	10-05-06	10-05-06	-	Active	NO
U70101WB2006PTC109914	SHYAMSREE INFRASTRUCTURE PRIVATE LIMITED	Director	14-06-06	14-06-06	-	Active	NO
U70101WB2006PTC109929	SHYAMSREE DEVELOPERS PRIVATE LIMITED	Director	14-06-06	14-06-06	-	Active	NO
U70101WB2006PTC109907	SHYAM MANSION PRIVATE LIMITED	Director	14-06-06	14-06-06	-	Active	NO
U70101WB2006PTC110712	SHYAMSHREE NIKETAN PRIVATE LIMITED	Director	21-07-06	21-07-06	-	Active	NO
U27100WB2007PLC115235	SHYAM STEEL METALLICS LIMITED	Director	18-04-07	18-04-07	-	Active	NO
U74140WB2004PTC099555	VANLILA CONSULTANTS PRIVATE LIMITED	Additional director	01-08-07	01-08-07	15-03-10	Active	NO
U51109WB2005PTC103233	RAMTECH VANIJYA PRIVATE LIMITED	Additional director	12-10-07	12-10-07	-	Amalgamated	NO
U14219WB2008PTC128692	SHYAM MINERAL RESOURCES PRIVATE LIMITED	Director	22-08-08	22-08-08	-	Active	NO
U51909WB1992PLC054881	SHRI JAGANNATH STEELS AND POWER LIMITED	Director	22-09-09	20-08-09	-	Active	NO
U73100WB2009PTC138299	TCP MARKETING AND RESEARCH PRIVATE LIMITED	Director	08-09-09	08-09-09	-	Active	NO
U01403WB2010PTC144799	SSB ESTATE PRIVATE LIMITED	Director	05-04-10	05-04-10	-	Active	NO
U45400WB2010PTC153339	SHYAM STEEL INFRAPROJECTS PRIVATE LIMITED	Director	23-09-10	23-09-10	-	Active	NO
U40109WB2010PTC154127	SHYAMSTEEL POWER PRIVATE LIMITED	Director	18-10-10	18-10-10	-	Active	NO
U40105WB2010PTC154125	SHYAMSTEEL ENERGY PRIVATE LIMITED	Director	18-10-10	18-10-10	-	Active	NO
U01119WB2010PTC154124	SHYAMSTEEL AGRO PRIVATE LIMITED	Director	18-10-10	18-10-10	-	Active	NO
U51909WB2010PTC154689	SHYAM KUND VYAPAAR PRIVATE LIMITED	Director	16-11-10	16-11-10	-	Active	NO
U52190WB2011PLC156940	CHITRALEKHA MERCHANTS LIMITED	Director	10-01-11	10-01-11	-	Active	NO
U28999WB1991PLC051823	SOVA ISPAT LIMITED	Additional director	10-01-11	10-01-11	-	Active	NO

Name :

Mr. Purushottam Beriwala

Designation :

Whole Time Director

Address :

CE – 108, Salt Lake City, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

08.08.1960

Date of Appointment :

20.06.2008

Din No.:

00006215

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
U51109WB1992PTC056738	BRIGHT HORIZON IMPEX PRIVATE LIMITED.	Director	21-05-99	21-05-99	-	Amalgamated	NO
U65999WB1985PTC039875	SAJAN FINANCIERS AND COMMERCIALS PRIVATE LIMITED	Director	15-01-01	15-01-01	-	Active	NO
U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Whole-time director	20-06-08	08-03-02	-	Active	NO
U27101WB2002PTC094472	SGI ISPAT PRIVATE LIMITED	Director	05-04-02	05-04-02	01-04-08	Active	NO
U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	02-05-06	02-05-06	25-03-11	Active	NO
U70101WB2006PTC110700	SHYAMSREE TOWERS PRIVATE LIMITED	Director	20-07-06	20-07-06	-	Active	NO
U70101WB2006PTC110737	LAKEVIEW BUILDERS PRIVATE LIMITED	Director	24-07-06	24-07-06	-	Active	NO
U24121WB1975PTC030089	DIN CHEMICALS AND COATINGS PRIVATE LIMITED	Director	12-04-07	12-04-07	-	Active	NO
U27100WB2007PLC115235	SHYAM STEEL METALLICS LIMITED	Director	18-04-07	18-04-07	-	Active	NO
U45400WB2007PTC116138	PUSPA NIKETAN PRIVATE LIMITED	Director	28-05-07	28-05-07	-	Active	NO
U27102WB2002PTC095374	SHREEGOPAL HI-TECH PRIVATE LIMITED	Director	12-06-07	12-06-07	-	Amalgamated	NO
U67120WB2006PTC112242	YASHASHVI SECURITIES PRIVATE LIMITED	Director	27-09-08	31-08-07	-	Active	NO
U51109WB2005PTC106571	VICTOR VANIJYA PRIVATE LIMITED	Additional director	12-10-07	12-10-07	-	Amalgamated	NO
U70101WB2005PTC104566	LIBERAL HOUSING PRIVATE LIMITED	Additional director	12-10-07	12-10-07	-	Amalgamated	NO
U01134WB2010PTC145281	PB FARM HOUSE PRIVATE LIMITED	Director	15-04-10	15-04-10	-	Active	NO
U40109WB2010PTC154127	SHYAMSTEEL POWER PRIVATE LIMITED	Director	18-10-10	18-10-10	-	Active	NO
U40105WB2010PTC154125	SHYAMSTEEL ENERGY PRIVATE LIMITED	Director	18-10-10	18-10-10	-	Active	NO
U01119WB2010PTC154124	SHYAMSTEEL AGRO PRIVATE LIMITED	Director	18-10-10	18-10-10	-	Active	NO
U52190WB2010PTC155464	VAIKUNTHA TRADECOM PRIVATE LIMITED	Director	07-12-10	07-12-10	-	Active	NO
U52190WB2011PLC156940	CHITRALEKHA MERCHANTS LIMITED	Director	10-01-11	10-01-11	-	Active	NO
U28999WB1991PLC051823	SOVA ISPAT LIMITED	Additional director	10-01-11	10-01-11	-	Active	NO
U52190WB2011PTC168098	DAKSHA TIE-UP PRIVATE LIMITED	Director	23-09-11	23-09-11	-	Active	NO
U52190WB2011PTC168116	BRIGHT DEALTRADE PRIVATE LIMITED	Director	26-09-11	26-09-11	-	Active	NO
U52190WB2011PTC168114	ANANT VINTRADE PRIVATE LIMITED	Director	26-09-11	26-09-11	-	Active	NO
U52190WB2011PTC168103	AVANEESH DEALMARK PRIVATE LIMITED	Director	26-09-11	26-09-11	-	Active	NO

Name :

Mr. Govind Beriwala

Designation :

Whole Time Director

Address :

CE – 108, Salt Lake City, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

09.03.1963

Date of Appointment :

20.06.2008

Din No.:

00006100

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
U65999WB1985PTC039875	SAJAN FINANCIERS AND COMMERCIALS PRIVATE LIMITED	Director	02-02-01	02-02-01	-	Active	NO
U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Whole-time director	20-06-08	01-04-05	-	Active	NO
U27310WB2005PTC102936	RANCHI CASTINGS PRIVATE LIMITED	Director	04-05-05	04-05-05	-	Active	NO
U51909WB2005PTC103002	ADARSH TIE-UP PRIVATE LIMITED	Director	06-05-05	06-05-05	-	Amalgamated	NO
U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	25-05-05	25-05-05	31-03-11	Active	NO
U45201WB2006PTC109007	VASUDEO ENCLAVE PRIVATE LIMITED	Director	20-04-06	20-04-06	-	Active	NO
U70101WB2006PTC109019	SWASTIKA MANSION PRIVATE LIMITED	Director	20-04-06	20-04-06	-	Active	NO
U45201WB2006PTC109008	SREENATH PROMOTERS PRIVATE LIMITED	Director	20-04-06	20-04-06	-	Active	NO
U70101WB2006PTC109018	MANGALAM MANSION PRIVATE LIMITED	Director	20-04-06	20-04-06	-	Active	NO
U70101WB2006PTC109020	LOTUS MANSION PRIVATE LIMITED	Director	20-04-06	20-04-06	-	Active	NO
U74140WB2006PTC109267	SHYAM TECHNICAL SERVICES PRIVATE LIMITED	Director	10-05-06	10-05-06	-	Active	NO
U70101WB2006PTC109914	SHYAMSREE INFRASTRUCTURE PRIVATE LIMITED	Director	14-06-06	14-06-06	-	Active	NO
U70101WB2006PTC109929	SHYAMSREE DEVELOPERS PRIVATE LIMITED	Director	14-06-06	14-06-06	-	Active	NO
U70101WB2006PTC109907	SHYAM MANSION PRIVATE LIMITED	Director	14-06-06	14-06-06	-	Active	NO
U70101WB2006PTC110693	SHYAMSHREE ENCLAVE PRIVATE LIMITED	Director	20-07-06	20-07-06	-	Active	NO
U70101WB2006PTC110743	KONARK HIRISE PRIVATE LIMITED	Director	27-01-07	27-01-07	-	Active	NO
U27100WB2007PLC115235	SHYAM STEEL METALLICS LIMITED	Director	18-04-07	18-04-07	-	Active	NO
U67120WB2006PTC112242	YASHASHVI SECURITIES PRIVATE LIMITED	Director	27-09-08	31-08-07	-	Active	NO
U51109WB2005PTC102381	AMBITION VINIMAY PRIVATE LIMITED	Additional director	12-10-07	12-10-07	-	Amalgamated	NO
U51109WB2005PTC105649	GRIN TIE-UP PRIVATE LIMITED	Additional director	12-10-07	12-10-07	-	Amalgamated	NO
U14219WB2008PTC128692	SHYAM MINERAL RESOURCES PRIVATE LIMITED	Director	22-08-08	22-08-08	-	Active	NO
U51909WB1992PLC054881	SHRI JAGANNATH STEELS AND POWER LIMITED	Director	22-09-09	20-08-09	-	Active	NO
U70100WB2010PTC145309	GB RESORTS PRIVATE LIMITED	Director	16-04-10	16-04-10	-	Active	NO
U51909WB2009PTC135163	UNICON VYAPAAR PRIVATE LIMITED	Director	30-09-10	19-05-10	-	Active	NO
U45400WB2010PTC153339	SHYAM STEEL INFRAPROJECTS PRIVATE LIMITED	Director	23-09-10	23-09-10	-	Active	NO
U52190WB2011PLC156940	CHITRALEKHA MERCHANTS LIMITED	Director	10-01-11	10-01-11	-	Active	NO

Name :

Mr. Ravi Beriwala

Designation :

Whole Time Director

Address :

CE – 108, Salt Lake City, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

06.06.1970

Date of Appointment :

20.03.2009

Din No.:

00006230

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
U51109WB1992PTC056738	BRIGHT HORIZON IMPEX PRIVATE LIMITED.	Director	21-05-99	21-05-99	Amalgamated	NO
U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	31-03-11	02-05-06	Active	NO
U70101WB2006PTC110695	SHYAMSREE PROMOTERS PRIVATE LIMITED	Director	20-07-06	20-07-06	Active	NO
U70101WB2006PTC110778	ROSEWOOD PLAZA PRIVATE LIMITED	Director	26-07-06	26-07-06	Active	NO
U24121WB1975PTC030089	DIN CHEMICALS AND COATINGS PRIVATE LIMITED	Director	12-04-07	12-04-07	Active	NO
U45400WB2007PTC116137	SHREE NIVAS BUILDESTATES PRIVATE LIMITED	Director	28-05-07	28-05-07	Active	NO
U27102WB2002PTC095374	SHREEGOPAL HI-TECH PRIVATE LIMITED	Director	12-06-07	12-06-07	Amalgamated	NO
U74140WB2004PTC099555	VANLILA CONSULTANTS PRIVATE LIMITED	Additional director	22-09-07	22-09-07	Active	NO
U51909WB2004PTC098060	SAFFORN MARKETING PRIVATE LIMITED	Director	12-10-07	12-10-07	Amalgamated	NO
U27101WB2002PTC094472	SGI ISPAT PRIVATE LIMITED	Director appointed in casual vacancy	01-04-08	01-04-08	Active	NO
U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Whole-time director	01-04-09	20-03-09	Active	NO
U73100WB2009PTC138299	TCP MARKETING AND RESEARCH PRIVATE LIMITED	Director	08-09-09	08-09-09	Active	NO
U01403WB2010PTC144799	SSB ESTATE PRIVATE LIMITED	Director	05-04-10	05-04-10	Active	NO
U51909WB2009PTC135163	UNICON VYAPAAR PRIVATE LIMITED	Director	30-09-10	19-05-10	Active	NO
U51909WB2010PTC154689	SHYAM KUND VYAPAAR PRIVATE LIMITED	Director	16-11-10	16-11-10	Active	NO
U52190WB2010PTC155464	VAIKUNTHA TRADECOM PRIVATE LIMITED	Director	07-12-10	07-12-10	Active	NO
U52190WB2011PLC156940	CHITRALEKHA MERCHANTS LIMITED	Director	10-01-11	10-01-11	Active	NO

Name :

Mr. Brijesh Beriwala

Designation :

Director

Address :

CE – 108, Salt Lake City, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

27.08.1972

Date of Appointment :

20.03.2009

Din No.:

00006152

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
U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	02-05-06	02-05-06	25-03-11	Active	NO
U70101WB2006PTC110694	SHYAMSREE MANSION PRIVATE LIMITED	Director	20-07-06	20-07-06	-	Active	NO
U70101WB2006PTC110736	SEASIDE CONSTRUCTION PRIVATE LIMITED	Director	24-07-06	24-07-06	-	Active	NO
U45400WB2007PTC116136	ANANDAMAYEE DEVELOPERS PRIVATE LIMITED	Director	28-05-07	28-05-07	-	Active	NO
U74140WB2004PTC099555	VANLILA CONSULTANTS PRIVATE LIMITED	Director	29-09-07	22-09-07	-	Active	NO
U51109WB2005PTC105513	INFIELD MERCHANTS PRIVATE LIMITED	Additional director	12-10-07	12-10-07	-	Amalgamated	NO
U27101WB2002PTC094472	SGI ISPAT PRIVATE LIMITED	Director appointed in casual vacancy	01-04-08	01-04-08	02-02-09	Active	NO
U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Director	20-03-09	20-03-09	-	Active	NO
U73100WB2009PTC138299	TCP MARKETING AND RESEARCH PRIVATE LIMITED	Director	08-09-09	08-09-09	-	Active	NO
U52190WB2010PTC141136	GUNINA TIE-UP PRIVATE LIMITED	Director	18-01-10	18-01-10	-	Active	NO
U52190WB2010PTC147267	GRAND TRADECOM PRIVATE LIMITED	Director	11-05-10	11-05-10	-	Active	NO

Name :

Mr. Mahesh Bhatter

Designation :

Director

Address :

3B, Darpnarayan Tagore Street, Kolkata – 700006, West Bengal, India

Date of Birth/Age :

25.08.1979

Date of Appointment :

16.02.2009

Din No.:

00006249

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
U51109WB1992PTC056738	BRIGHT HORIZON IMPEX P LTD.	Director	03-08-00	03-08-00	-	Amalgamated	NO
U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	02-05-06	02-05-06	25-03-11	Active	NO
U70101WB2006PTC110696	SHYAM KUTIR PRIVATE LIMITED	Director	20-07-06	20-07-06	-	Active	NO
U70101WB2006PTC110780	UNNATI NIRMAN PRIVATE LIMITED	Director	26-07-06	26-07-06	-	Active	NO
U45400WB2007PTC116279	KARUNAMAYEE DEVELOPERS PRIVATE LIMITED	Director	31-05-07	31-05-07	-	Active	NO
U74140WB2004PTC099555	VANLILA CONSULTANTS PRIVATE LIMITED	Director	29-09-07	22-09-07	-	Active	NO
U51109WB2005PTC106570	BALWANT MERCHANTS PVT LTD	Additional director	12-10-07	12-10-07	-	Amalgamated	NO
U27101WB2002PTC094472	SGI ISPAT PRIVATE LIMITED	Additional director	01-04-08	01-04-08	02-02-09	Active	NO
U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Director	20-03-09	20-03-09	-	Active	NO
U73100WB2009PTC138299	TCP Marketing & Research Private Limited	Director	08-09-09	08-09-09	-	Active	NO
U52190WB2010PTC141136	GUNINA TIE-UP PRIVATE LIMITED	Director	18-01-10	18-01-10	-	Active	NO
U52190WB2010PTC147267	GRAND TRADECOM PRIVATE LIMITED	Director	11-05-10	11-05-10	-	Active	NO
U52190WB2011PTC168098	DAKSHA TIE-UP PRIVATE LIMITED	Director	23-09-11	23-09-11	-	Active	NO
U52190WB2011PTC168116	BRIGHT DEALTRADE PRIVATE LIMITED	Director	26-09-11	26-09-11	-	Active	NO
U52190WB2011PTC168114	ANANT VINTRADE PRIVATE LIMITED	Director	26-09-11	26-09-11	-	Active	NO
U52190WB2011PTC168103	AVANEESH DEALMARK PRIVATE LIMITED	Director	26-09-11	26-09-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Satish Kumar Garg
Designation :	Secretary
Address :	99C, Girish Ghosh Road, Liluah, Howrah – 711204, West Bengal, India
Date of Birth/Age :	06.05.1972
Date of Appointment :	08.04.2008
Name :	Mr. Somanath Saha
Designation :	Secretary
Address :	507/50, Jessore Road, Kolkata – 700074, West Bengal, India
Date of Birth/Age :	01.07.1973
Date of Appointment :	03.07.2009

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON : 30.09.2010

Names of Shareholders	No. of Shares
	(Equity Shares)
Shyam Sunder Beriwala	367100
Lalit Beriwala	385950
Purushottam Beriwala	283050
Govind Beriwala	248650
Ravi Beriwala	332550
Brijesh Beriwala	328050
Manish Beriwala	314550
Sriram Beriwala	227500
Maya Devi Beriwala	27500
Puspa Devi Beriwala	128300
Manju Lata Beriwala	15000
Vineeta Beriwala	15000
Anju Beriwala	15000
Bina Beriwala	281000
Jyoti Beriwala	110300
Shyam Sunder Beriwala and Others	91500
Lalit Beriwala (HUF)	234850
Ravi Beriwala (HUF)	214950
Brijesh Beriwala (HUF)	219450
Manish Beriwala (HUF)	174550
Purushottam Beriwala (HUF)	358450
Govind Beriwala (HUF)	363550
Vanlila Consultants Private Limited (HUF), India	63200
Suket Beriwala	200000
Total	6500000

Names of Shareholders	No. of Shares
	(Preference Shares)
Vanlila Consultants Private Limited, India	870000
Yashshvi Securities Private Limited, India	630000

AS ON 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	1.26
Directors or relatives of directors	98.74
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Re-Bars and Structural Steel

Products :

Product Description	Item Code No. (ITC Code)
TMT Re-bars, Channel, Steel Structure, etc.	7214.90
Billet (Non- Alloy)	7224.90
Sponge Iron	7203.10

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Licensed Capacity	Actual Production
Hot Rolled Steel Products	MT	370000	211190
Ingot / Billet	MT	158000	103986
Sponge Iron	MT	57000	25768
Melting and Misroll	--	--	9212
Iron And Steel Products	--	--	98739

GENERAL INFORMATION

Bankers :

· UCO Bank, MID Corporate Branch, 10, B. T. M. Sarani, Kolkata - 700001, West Bengal, India

· State Bank of India, Commercial Branch, Kolkata, 24, Park Street, Kolkata – 700016, West Bengal, India

· State Bank of Patiala

· State Bank of Bikaner and Jaipur.

Facilities :

Secured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
From Bank (Loan Repayable within one year Rs.184.400 Millions Previous Year 72.006 Millions)	1957.985	1000.512
From Others Secured against Power Incentive Receivable	0.000	0.000
Total	1957.985	1000.512

Unsecured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Short Term Loan from Bank	0.000	0.000
From Body Corporate	81.168	65.569
Total	81.168	65.569

Banking Relations :	--
Auditors :
Name :	Singhi And Company Chartered Accountants
Address :	Emerald House. 4th Floor, 1B, Old Post Office Street. Kolkata-700001, West Bengal, India
Tel. No.:	91-33-22484573/4577,30224333
Fax No.:	91-33-22307146
E-Mail :	kolkata@singhico.com
Enterprises Over Which Key Management Personnel / Relatives Have Significant Influence	Majority of the Directors are Partners Shyam Ispat Udyog Majority of Director(s) is/are common · Konark Hirise Private Limited · Lakeview Builders Private Limited · Mangalam Mansion Private Limited · Ranchi Castings Private Limited · Rosewood Plaza Private Limited · Shyam Technical Services Private Limited · Sreenath Promoters Private Limited · Swastika Mansion Private Limited · Trumax Ispat Private Limited · Vanlila Consultants Private Limited · Vasudeo Enclave Private Limited · Yashashvi Securities Private Limited Directors/Relatives have substantial interest · Shyam Kutir Private Limited · Shyamshree Enclave Private Limited. · Shyamshree Niketan Private Limited · Shyamsree Mansion Private Limited · Shyamsree Promoters Private Limited · Shyamsree Towers Private Limited · Unnati Nirman Private Limited

CAPITAL STRUCTURE

As on : 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs.10/- each	Rs.50.000 Millions
2,000,000	Cumulative Convertible Preference shares	Rs.10/- each	Rs.20.000 Millions
			Rs.70.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs.10/- each	Rs.50.000 Millions
1,500,000	Cumulative Convertible Preference shares	Rs.10/- each	Rs.15.000 Millions
			Rs.65.000 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			65.000	65.000	60.000
2] Share Application Money			0.000	0.000	0.000
3] Reserves & Surplus			1542.726	1343.105	930.952
4] (Accumulated Losses)			0.000	0.000	0.000
NETWORTH			1607.726	1408.105	990.952
LOAN FUNDS
1] Secured Loans			1957.985	1000.512	959.269
2] Unsecured Loans			81.168	65.569	232.850
TOTAL BORROWING			2039.153	1066.081	1192.119
DEFERRED TAX LIABILITIES			92.909	78.174	60.386
TOTAL			3739.788	2552.360	2243.457
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]			890.385	842.042	737.933
Capital work-in-progress			221.837	118.561	40.699
INVESTMENT			0.550	1.224	1.224
DEFERREX TAX ASSETS			0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
		Inventories	974.569	1039.652	1484.293
		Sundry Debtors	2034.241	1281.664	1600.075
		Cash & Bank Balances	33.784	66.764	41.815
		Other Current Assets	0.000	0.000	0.000
		Loans & Advances	763.483	532.584	317.740
Total Current Assets			3806.077	2920.664	3443.923
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities		24.591	15.571	54.590
	Sundry Creditors		1148.404	1310.705	1923.650
	Provisions		6.066	3.855	2.082
Total Current Liabilities			1179.061	1330.131	1980.322
Net Current Assets			2627.016	1590.533	1463.601
MISCELLANEOUS EXPENSES			0.000	0.000	0.000
TOTAL			3739.788	2552.360	2243.457

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	9620.289	10405.087	8286.669
		Other Income	13.113	8.847	8.726
		TOTAL (A)	9633.402	10413.934	8295.395
Less	EXPENSES
		Increase / Decrease in Stock	27.224	176.604	50.123
		Cost of Material Consumed / Sold	7735.384	8606.631	6888.835
		Manufacturing and Other Expenses	1361.498	1119.733	936.698
		Payment to and Provision for Employees	129.192	92.607	46.414
		Directors Remuneration including Sitting Fees	7.941	3.600	2.074
		TOTAL (B)	9261.239	9999.175	7924.144
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		372.163	414.759	371.251
Less	FINANCIAL EXPENSES (D)		80.373	126.762	108.141
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		291.790	287.997	263.110
Less/ Add	DEPRECIATION/ AMORTISATION (F)		67.151	54.445	47.416
	PROFIT BEFORE TAX (E-F) (G)		224.639	233.552	215.694
Less	TAX (I)		38.722	53.131	46.641
	PROFIT AFTER TAX (G-I) (J)		185.917	180.421	169.053
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		468.516	288.222	108.140
Less	APPROPRIATIONS
		Dividend	0.000	0.108	0.000
		Tax on Dividend	0.000	0.018	0.000
		On Amalgamation	0.000	0.000	11.028
	BALANCE CARRIED TO THE B/S		654.433	468.516	288.222
	IMPORTS
		Raw Materials	0.000	0.000	0.000
		Stores & Spares	1.712	4.721	4.716
	TOTAL IMPORTS		1.712	4.721	4.716
	Earnings Per Share (Rs.)		37.15	36.06	60.38

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.92	1.75	2.04
Net Profit Margin (PBT/Sales)	(%)	2.33	2.27	2.60
Return on Total Assets (PBT/Total Assets}	(%)	0.52	6.21	5.16
Return on Investment (ROI) (PBT/Networth)		0.13	0.17	0.22
Debt Equity Ratio (Total Liability/Networth)		2.00	1.70	3.20
Current Ratio (Current Asset/Current Liability)		3.22	2.20	1.74

LOCAL AGENCY FURTHER INFORMATION

NOTE :

The concern person has declined to give any information

NOTE:

Registered office of the company has been shifted from 115, College Street, Kolkata – 700012, West Bengal, India to the present address w.e.f. 07.11.2007

OPERATIONAL REVIEW

The fiscal year can be described as one of recovery from global economic crises. The domestic steel market has shown an upward trend in the year. The demand for steel in India is expected to surge in the coming years due to the huge impetus on infrastructure development. The increase in outlay on housing, urban and rural infrastructure, highways and railways in the budget for 2010-11 and the government's emphasis on power sector growth will create a huge demand for steel. The rising levels of disposable incomes will lead to higher spending on luxury goods like automobiles and consumer durables, which will further boost steel demand.

The Company has increased the production of Hot Rolled Steel products by commissioning of Rolling Mill at the Angadpur Plant with an additional production capacity of 125000 MTPA of Hot Rolled Steel Products during the third quarter of the fiscal year under review.

During the year, the Company registered substantial growth in production volumes across all operating units. The production of Hot Rolled Steel Products grew 23% to 211,190 MT from 171,983 MT in the previous year. The production of Billet also increased by 8% to 103,986 MT compared to 96,727 MT in the previous year. The production of Sponge Iron registered a staggering growth of 101% to 25,768 MT in comparison to 12,801 MT during the previous year.

The Company has increased the production of Hot Rolled Steel products by commissioning of Rolling Mill at the Angadpur Plant with an additional production capacity of 125000 MTPA of Hot Rolled Steel Products during the third quarter of the fiscal year and is in the process of commissioning Electric Arc Furnace (EAF) with capacity addition of 122000 MTPA at the Angadpur Plant.

The company achieved turnover of Rs.10087.759 millions during the year. The PBT for the financial year 2009-10 was Rs.291.790 millions as against Rs. 287.998 millions in the financial year 2008-09. The Company recorded a growth of 3% in the PAT in the financial year 2009-10 amounting to Rs. 185.917 millions compared to Rs. 180.421 millions during the financial year 2008-09. The lower cost of raw materials, better operating efficiencies and lower cost of finance have resulted in the growth of profits. The profit margins could have been better, but it was affected by the effect of the global slowdown that had been presiding over the preceding financial years.

During the year, the Company has continued to strengthen its marketing team across the nation and even beyond its boundaries, resulting in to increase in its sales volume. The Company registered a substantial growth in sales volumes across all operating units. The total sales volume increased by 7% to 440,860 MT compared to 412,727 MT in the previous year. Despite of that the sales revenue was affected, due to lower sales realization of various iron and steel products as the pricing in the domestic steel market followed a downward trend throughout the year.

STEEL INDUSTRY REVIEW

Steel is a capital intensive and globally critical industry which has a big impact on the economy. It requires long-term relationships between mining companies, steel companies and the users of steel, and recognition of their mutual dependence. Currently the industry has two major concerns. Firstly, the recent unprecedented rises in the price of iron ore and metallurgical coal which pose serious problems for the margins of steel companies and their customers. Secondly, the unilateral replacement of annual contracts by a three-month spot price for iron ore by the major mining companies will greatly increase the risk of price volatility in iron ore and scrap prices which will have a negative impact on the whole steel supply chain.

The Indian steel industry entered into a new development stage from 2005-06, resulting in India becoming the 5th largest producer of steel globally. Producing about 55 million tonnes (MT) of steel a year, today India accounts for a little over 7% of the world's total production. US, Germany, Italy, Brazil and Japan though are not yet back to pre-crisis production levels. Steel production for the first nine months of the calendar year 2010 over the globe showed an uptrend, increasing to 934.52 mmt i.e., by 22.14 percent when compared to first nine months of 2009.

The National Steel Policy has fixed a target of taking steel production up to 11OMT by 2019-20. Nonetheless, with the current rate of ongoing Greenfield and Brownfield projects, the Ministry of Sfeel has projected India's steel capacity is expected to touch 124.06 MT by 2011-12.

The Indian steel sector is witnessing a rise in demand with more orders coming in from automobile industry. Rising demand and controlled supply are the main factors leading to a rise in prices. Indian companies are in a spot to enjoy the recovery in global steel prices, due to captive iron ore and strong domestic demand.

PROSPECTS

Due to a huge demand from the steel industry, prices of both the raw materials and steel products have risen considerably and are expected to remain firm in 2010-11. Steep rise in prices of raw materials has lead to a consequent increase in the finished product. In these conditions, in order to achieve a steady growth in operational profit, it is now imperative to resort to backward integration process. Hence, as reported previously, the company has initiated effective steps for acquiring lease for coal and iron ore mines from the State Governments of West Bengal and Orissa.

EXPANSION PROJECTS

BROWNFIELD PROJECT

The Company is on its way to install a 10 MW Captive Power Plant at its Angadpur Unit, Durgapur, through which the Company shall generate captive power to meet one-third of its total power requirement of its production facility.

GREENFIELD PROJECT

Bonai Project, Orissa

The Company is on its way to establish a Greenfield Project at Bonai, Orissa in the Phase - I of which the Company plans to install a 1 MTPA Iron Ore Beneficiation and Pelletisation Plant in Bonai, Dist. Sundergarh in Orissa. For this purpose 200 Acres of land has been allotted for the project and Single Window Clearance has been given by the Government of Orissa. The construction activities and commercial production of the project is expected to commence by April, 2011 and April, 2013 respectively.

FORM : 8

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the modified	10113243
Corporate identity number of the company	U27100WB2002PLC094339
Name of the company	SHYAM STEEL INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	Shyam Tower, EN 32, Sector – V, Salt Lake City, V, Kolkata – 700091, West Bengal, India finance@shyamsteel.com
Type of charge	Book Debts Movable Property Floating Charge Others
Particular of charge holder	UCO Bank, MID Corporate Branch, 10, B. T. M. Sarani, Kolkata - 700001, West Bengal, India
Nature of description of the instrument creating or modifying the charge	(1) Deed of hypothecation of goods to secure demand cash credit (2) Deed of hypothecation of book debts to secure demand cash credit. (3) Deed of hypothecation of movable plant and machinery as collateral security. (4) Agreement for extension of charge by way of hypothecation over current assets to secure non fund based facilities.
Date of instrument Creating the charge	25/11/2011
Amount secured by the charge	Rs.445.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: @ 0.75% p.a. below BPLR which is at present 12.25% i.e. 11.50% p.a. with monthly rests subject to change by the bank/RBI from time to time. Terms of Repayment: Repayable on demand. Margin: 25% On stocks and book debts. Extent and operation of the charge: Pari passu 1st charge over current assets of the company and over all plant and machinery and other fixed assets of the Company situated at 220/3/1,G.T.Road,Howrah - 711107 and 2nd charge over all plant and machinery of the company situated at Raturia Industrial Estate, Durgapur, West Bengal and AT Bamunara, P.S. Kanksa, P. O. Gopalpur, Durgapur, West Bengal ranking Pari passu with other working capital consortium bankers i.e. State Bank of India, State Bank of Patiala and State Bank of Bikaner and Jaipur. Others: The hypothecated assets shall be insured against loss or damage under bank clause.
Short particulars of the property charged	(i) Hypothecation (Pari passu 1st charge) on entire current assets of the company including all present and future book debts, outstanding moneys, receivables, claims, etc. of the company (ii Hypothecation (pari passu 1st charge) of movable plant and machinery etc and other movable fixed assets installed or to be installed at the co's factory premises situated at 220/3/1, G.T. Road(N),Howrah, West Bengal (iii) Hypothecation (Pari passu 2nd charge) of movable plant and machinery etc installed or to be installed at the company’s factory premises situated at Raturia Industrial Estate, Angadpur, Durgapur, Dist. Burdwan. West Bengal (iv) Hypothecation (pari passu 2nd charge) of movable plant and machinery etc installed or to be installed at the co's factory premises situated at Mouza:Bamunara,P.S. Kanksa,P.O. Gopalpur, Durgapur, West Bengal
Particulars of the present modification	By this modification the overall working capital limit of UCO Bank has been enhanced from Rs.352.500 Millions to Rs.445.000 Millions comprising of cash credit: Rs.390.000 Millions letter of credit : Rs.55.000 Millions All other terms, conditions and properties charged as security remain unaltered.

CONTINGENT LIABLITY NOT PROVIDED FOR IN RESPECT OF:

PARTICULARS	AS ON 31.03.2010
Claims and Government demands against the Company not acknowledged as Debt in respect of Sales Tax*	2.015 Millions
Outstanding Bank Guarantees	49.863 Millions
Commitments arising out of capital expenditure (Net of Advances)	169.736 Millions

* Sales Tax Liability denotes pending ‘C’ Forms as on the date of Assessment Order Subsequently appeal was filed before West Bengal Appeals and Provisional Board and pending ‘C’ Forms have been received in full.

FIXED ASSETS:

· Freehold Land

· Leasehold Land

· Office Building and Premises

· Factory Shed and Structures

· Plant and Machinery

· Office Equipment

· Furniture Fixtures

· Computer

· Computer Software

· Vehicles

WEBSITE DETAILS:

PROFILE:

Subject a manufacturer of Re-Bars and structural steel, is a popular name amongst the steel manufacturing industries of India. The head office of the company is at Kolkata, West Bengal with branches in many cities of India. Its distribution channel is widespread and effective in all major parts of the country.

The company has earned fame and respect in the steel making business by working with dedication through decades, and has grown with consistency. It has a fully integrated steel plant in the eastern region at Durgapur and is about to commission another in the same city; where in-house production of a wide range of construction steel is carried out to ensure 100% quality management. International quality and value for money are two famous traits that make the company popular amongst its clients, which includes a large number of multinationals and government bodies.

Shyam Steel has a huge presence in the steel sector with three specialty rolling mills at Howrah, and the establishment of an integrated steel plant at Durgapur, West Bengal and Barbil, Orissa, respectively. With an aggressive growth plan, the company has a strong marketing network covering most major cities of India, with 13 branches all over. Shyam Steel’s ambitious expansion plans include a 1.1 MTPA greenfield Integrated Steel Plant, a 150 MW Power Plant and a 1.1 MTPA cement plant. The company’s brownfield expansion projects include a captive power plant at its existing Durgapur unit.

Not only India, Shyam Steel products namely TMT re-bars, channels, angles of various sizes and billets are widely exported to countries such as Japan, Ghana, UAE, Indonesia, Sri Lanka, Nepal, Bhutan, Bangladesh, Gabon and many more countries.

Under the effective guidance of its Directors and the dedication of its staff members, Subject marches ahead to become the country’s natural choice in construction steel for megaprojects as well as the individual house builder.

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. 49.24
UK Pound	1	Rs. 76.80
Euro	1	Rs. 67.17

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	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		50

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.