MIRA INFORM REPORT

Report Date :

26.03.2012

IDENTIFICATION DETAILS

Name :	SEW CONSTRUCTIONS (MAHARASHTRA) LIMITED
Registered Office :	Plot No.5 (East), Gajanan Housing Society, Vidyanagar Post, Karad, Satara District – 415 124, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.12.1998
Com. Reg. No.:	25-013152
Capital Investment / Paid-up Capital :	Rs.0.506 million
CIN No.: [Company Identification No.]	U45202PN1998PLC013152
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Construction Activity
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Yet to commenced business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Though the company incorporated in the year 1998, the company is yet to commence its commercial operations. Payment terms are not known. The company can be considered for business dealings on a secured trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

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 :	Plot No.5 (East), Gajanan Housing Society, Vidyanagar Post, Karad, Satara District – 415 124, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	cs@sewinfrastructure.com

DIRECTORS

As on 24.09.2011

Name :

Mr. Mula Thirpath Reddy

Father’s Name: Mula Krishna Reddy

Designation :

Director

Address :

Plot No.184, Road No.15, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India

Date of Birth/Age :

04.02.1927

Date of Appointment :

18.12.1999

DIN No.:

00357974

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45200AP1983PLC003796	SEW Infrastructure Limited	Whole-time director	01-10-11	09-09-83	Active	NO
2	U45202PN1998PLC013152	SEW Constructions (Maharashtra) Limited	Director	18-12-99	18-12-99	Active	NO
3	U40105AP2008PLC058508	SEW Nafra Power Corporation Limited	Director	29-09-10	01-04-10	Active	NO
4	U40101AP2007PLC052941	SEW Green Energy Limited	Director	29-09-10	01-07-10	Active	NO
5	U40108AP2010PLC069326	SEW Rangmaw Power Corporation Limited	Director	06-07-10	06-07-10	Active	NO

Name :

Yalamanchili Surya Prakasa Rao

Father’s Name: Yalamanchili Mohana Gopala Nageswara Rao

Designation :

Director

Address :

Plot No.99, Phase-II, ‘Surya’, Kavuri Hills, Madhapur, Hyderabad – 500 033, Andhra Pradesh, India

Date of Birth/Age :

01.06.1956

Date of Appointment :

18.12.1999

DIN No.:

00358173

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	U40101AP1997PLC028298	SEW RHO Power Corporation Limited	Director	28-11-97	28-11-97	-	Active	NO
2	U45200AP1983PLC003796	SEW Infrastructure Limited	Whole-time director	01-10-06	12-09-98	01-10-07	Active	NO
3	U45202PN1998PLC013152	SEW Constructions (Maharashtra) Limited	Director	18-12-99	18-12-99	-	Active	NO
4	U70102AP2007PLC052663	SEW Realty Limited	Managing director	01-02-09	07-02-07	-	Active	NO
5	U45203AP1997PLC026884	SEW Transportation Networks Limited	Director	24-09-07	23-08-07	-	Active	NO
6	U45400AP2008PLC059296	Livewell Projects India Limited	Managing director	01-04-10	23-05-08	-	Active	NO
7	U45400AP2011PTC074632	Dweepa Infrastructure Services Private Limited	Director	24-05-11	24-05-11	-	Active	NO
8	U29219AP2011PLC075819	SEW Fabtech Limited	Director	05-08-11	05-08-11	-	Active	NO
9	U93000AP2008PTC061110	Dezign Elementz Consultants Private Limited	Director	14-08-11	14-08-11	-	Active	NO
10	U40104AP2009PLC066442	SEW Power Limited	Director	04-11-11	04-11-11	-	Active	NO

Name :

Vallurupalli Rajkumar

Designation :

Director

Address :

Plot No.270-H, Road No.10, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India

Date of Birth/Age :

02.09.1969

Date of Appointment :

25.08.2007

DIN No.:

00008848

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	U31909AP1979PTC002572	Ecluminar Private Limited	Director	27-11-79	27-11-79	-	Active	NO
2	U85110AP1985PTC006011	Aditya Hospitals Private Limited	Director	07-07-03	07-07-03	-	Active	NO
3	U45200AP1983PLC003796	SEW Infrastructure Limited	Whole-time director	01-10-11	01-07-04	-	Active	NO
4	U40108AP1999PLC031522	SEW Thermal Power Corporation Limited	Director	22-09-07	23-08-07	-	Active	NO
5	U45203AP1997PLC026884	SEW Transportation Networks Limited	Director	24-09-07	23-08-07	-	Active	NO
6	U40101AP2007PLC052941	SEW Green Energy Limited	Director	30-09-08	23-08-07	-	Active	NO
7	U45202PN1998PLC013152	SEW Constructions (Maharashtra) Limited	Director	24-09-07	25-08-07	-	Active	NO
8	U40105AP2008PLC058508	SEW Nafra Power Corporation Limited	Nominee director	02-04-08	02-04-08	-	Active	NO
9	U40101AP2008PLC060107	SEW Nyukcharong Chu Power Corporation Limited	Nominee director	11-07-08	11-07-08	-	Active	NO
10	U40101AP1997PLC028298	SEW RHO Power Corporation Limited	Director	29-09-09	31-08-09	-	Active	NO
11	U40105AP2008PLC060189	SEW Mago Chu Power Corporation Limited	Director	29-09-10	30-12-09	-	Active	NO
12	U40108AP2010PLC068928	SEW Thermal Power Corporation (AP) Limited	Director	14-06-10	14-06-10	-	Active	NO
13	U45400AP2010PLC069982	SEW Bellary Highways Limited	Director	13-08-10	13-08-10	-	Active	NO
14	U23203AP2010PLC070842	SEW Carbons Limited	Director	13-10-10	13-10-10	-	Active	NO
15	U90000AP2011PLC072835	Balaji Industrial Treatment Systems Limited	Director	23-02-11	23-02-11	23-02-12	Active	NO
16	U45203AP2011PLC073071	SEW DSY Tollways Limited	Director	07-03-11	07-03-11	27-06-11	Active	NO

Name :

Mr. Sunkara Anil Kumar

Father’s Name: Sunkara Sivaramakrishna

Designation :

Director

Address :

Plot No.44, Flat No.302. ‘Padmaja Paradise’, Srinagar Colony, Hyderabad – 500 073, Andhra Pradesh, India

Date of Birth/Age :

02.06.1966

Date of Appointment :

18.12.1999

Date of Ceasing :

08.03.2011

DIN No.:

00357786

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	U20230AP1986PTC006888	Indian Timber Products Private Limited	Director	30-09-95	30-09-95	11-01-10	Active	NO
2	U40106AP1996PLC022929	Indus Business Systems Limited	Director	01-07-98	01-07-98	04-06-10	Active	NO
3	U45200AP1983PLC003796	SEW Infrastructure Limited	Whole-time director	01-10-11	12-09-98	-	Active	NO
4	U45202PN1998PLC013152	SEW Constructions (Maharashtra) Limited	Director	18-12-99	18-12-99	08-03-11	Active	NO
5	U15209AP1999PTC032245	ITP Enterprises Private Limited	Director	08-12-04	08-12-04	11-01-10	Active	NO
6	U45200AP2007PTC056237	SEW Navayuga Barwani Tollways Private Limited	Director	06-11-07	06-11-07	-	Active	NO
7	U40105AP2008PLC060189	SEW Mago Chu Power Corporation Limited	Nominee director	17-07-08	17-07-08	-	Active	NO
8	U93000AP2008PTC061110	Dezign Elementz Consultants Private Limited	Director	18-09-08	18-09-08	14-08-11	Active	NO
9	U45203AP1997PLC026884	SEW Transportation Networks Limited	Director	27-04-09	27-04-09	-	Active	NO
10	U40104AP2009PLC066442	SEW Power Limited	Director	22-12-09	22-12-09	-	Active	NO
11	U40108AP2010PLC068928	SEW Thermal Power Corporation (AP) Limited	Director	14-06-10	14-06-10	-	Active	NO
12	U40104AP2001PLC037125	Sree Venkateswara Power and Utilities Limited	Nominee director	02-09-11	30-06-10	-	Active	NO
13	U40108AP2010PLC069326	SEW Rangmaw Power Corporation Limited	Director	06-07-10	06-07-10	-	Active	NO
14	U45400AP2010PLC069982	SEW Bellary Highways Limited	Director	13-08-10	13-08-10	-	Active	NO
15	U40108AP1999PLC031522	SEW Thermal Power Corporation Limited	Director	28-09-11	13-10-10	-	Active	NO
16	U23203AP2010PLC070842	SEW Carbons Limited	Director	13-10-10	13-10-10	-	Active	NO
17	U90000AP2011PLC072835	Balaji Industrial Treatment Systems Limited	Director	23-02-11	23-02-11	05-12-11	Active	NO
18	U45203AP2011PLC073071	SEW DSY Tollways Limited	Director	07-03-11	07-03-11	23-07-11	Active	NO
19	U45400AP2011PLC073116	SEW Krishnagar Baharampore Highways Limited	Director	08-03-11	08-03-11	-	Active	NO
20	U45400AP2011PLC073484	SEW Vizag Port Terminal Limited	Director	24-03-11	24-03-11	-	Active	NO
21	U45200AP2011PLC075680	SEW LSY Highways Limited	Director	27-07-11	27-07-11	-	Active	NO
22	U45400AP2012PTC078503	SEW Vizag Coal Terminal Private Limited	Director	11-01-12	11-01-12	05-03-12	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2011

Names of Shareholders	Address	No. of Shares
Vallurupalli Raja Rama Mohan Rao	Plot No.270-H, Road No.10, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India	90
Yalamanchili Gangadhara Rao	Plot No.417/A, Road No.18, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India	90
Y.S. Prakasa Rao	Plot No.99, Phase-II, ‘Surya’, Kavuri Hills, Madhapur, Hyderabad – 500 033, Andhra Pradesh, India	90
Vallurupalli Rajasekhar	501, Jyothi Manor, Srinagar Colony, Hyderabad – 500 073, Andhra Pradesh, India	90
Sunkara Anil Kumar	Plot No.44, Flat No.302. ‘Padmaja Paradise’, Srinagar Colony, Hyderabad – 500 073, Andhra Pradesh, India	90
Mula Thirpath Reddy	Plot No.184, Road No.15, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India	90
K. Radha Krishna Murthy	No.309, Sree Rama Krishna Towers, Nagarjuna Nagar Colony, Ameerpet, Hyderabad – 500 073, Andhra Pradesh, India	90
SEW Infrastructure Limited	6-3-871, ‘Snehalata’, Greenlands Road, Begumpet, Hyderabad – 500 016, Andhra Pradesh, India	50000
	Total	50630

As on 09.12.1998

Names of Shareholders	Address	No. of Shares
Vallurupalli Raja Rama Mohan Rao	Plot No.270-H, Road No.10, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India	90
Yalamanchili Gangadhara Rao	Plot No.417/A, Road No.18, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India	90
Y.S. Prakasa Rao	Plot No.99, Phase-II, ‘Surya’, Kavuri Hills, Madhapur, Hyderabad – 500 033, Andhra Pradesh, India	90
Vallurupalli Rajasekhar	501, Jyothi Manor, Srinagar Colony, Hyderabad – 500 073, Andhra Pradesh, India	90
Sunkara Anil Kumar	Plot No.44, Flat No.302. ‘Padmaja Paradise’, Srinagar Colony, Hyderabad – 500 073, Andhra Pradesh, India	90
Mula Thirpath Reddy	Plot No.184, Road No.15, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India	90
K. Radha Krishna Murthy	No.309, Sree Rama Krishna Towers, Nagarjuna Nagar Colony, Ameerpet, Hyderabad – 500 073, Andhra Pradesh, India	90
	Total	630

As on 24.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00

BUSINESS DETAILS

Line of Business :

Construction Activity

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	A. Madhusudana and Company Chartered Accountants
Address :	101, Doyen Chambers, 8-3-319/11, Yellareddyguda, Hyderabad – 500 073, Andhra Pradesh, India
Tel. No.:	91-40-23732535/ 23752535
Fax No.:	91-40-23752535
E-Mail :	madhusudan@amcaudit.com
Income-tax PAN of auditor or auditor's firm :	AADFA0054H
Holding Company :	SEW Infrastructure Limited CIN No.: U45200AP1983PLC003796 Address: 6-3-871, ‘Snehalata’, Greenlands Road, Begumpet, Hyderabad – 500 016, Andhra Pradesh, India

CAPITAL STRUCTURE

As on 24.09.2011

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50630	Equity Shares	Rs.10/- each	Rs.0.506 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.506	0.506	0.506
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.065	0.052	0.044
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.571	0.558	0.550
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.571	0.558	0.550
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.586	0.565	0.536
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.018	0.033	0.026
Total Current Assets		0.604	0.598	0.562
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.012	0.007	0.002
	Other Current Liabilities
	Provisions	0.021	0.033	0.021
Total Current Liabilities		0.033	0.040	0.023
Net Current Assets		0.571	0.558	0.539
MISCELLANEOUS EXPENSES		0.000	0.000	0.011
TOTAL		0.571	0.558	0.550

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Interest Received	0.028	0.040	0.038
		Excess provision written back	0.001	0.000	0.000
		TOTAL	0.029	0.040	0.038
Less	EXPENSES
		Professional Charges	0.001	0.001	0.001
		Audit Fee: As Statutory Auditors	0.006	0.006	0.000
		Local Conveyance	0.000	0.001	0.001
		ROC Expenditure	0.001	0.001	0.004
		Printing and Stationery	0.001	0.000	0.000
		Preliminary Expenses written off	0.000	0.011	0.000
		TOTAL	0.009	0.020	0.006
	PROFIT BEFORE TAX		0.020	0.020	0.032
Less	TAX		0.009	0.012	0.012
	PROFIT AFTER TAX		0.011	0.008	0.020
Add	Excess provision relating to earlier years		0.002	0.000	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.052	0.044	0.024
	BALANCE CARRIED TO THE B/S		0.065	0.052	0.044
	Earnings Per Share (Rs.)		0.25	0.15	0.40

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	68.97	20.00	52.63
Net Profit Margin (PBT/Sales)	(%)	68.97	50.00	84.21
Return on Total Assets (PBT/Total Assets}	(%)	3.31	3.34	5.69
Return on Investment (ROI) (PBT/Networth)		0.04	0.04	0.06
Debt Equity Ratio (Total Liability/Networth)		0.06	0.07	0.04
Current Ratio (Current Asset/Current Liability)		18.30	14.95	24.43

LOCAL AGENCY FURTHER INFORMATION

REVIEW OF OPERATIONS:

The company has not started its business operations yet, and therefore there are no transactions during the year. The funds available with the company are parked as Term Deposits with Hyderabad branch of Bank of Bahrain and Kuwait, pending finalization of future business plans.

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.50.91
UK Pound	1	Rs.80.77
Euro	1	Rs.67.40

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	-
--CREDIT LINES	1~10	-
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		12

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.