MIRA INFORM REPORT

Report Date :

06.11.2012

IDENTIFICATION DETAILS

Name :	XINDIA STEELS LIMITED
Registered Office :	No. 52/44, 8th Main, 2nd Cross, Ganesha Block, Mahalaxmi Layout, Bangalore – 560096, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.05.2007
Com. Reg. No.:	08-042792
Capital Investment / Paid-up Capital :	Rs. 719.857 Millions
CIN No.: [Company Identification No.]	U27106KA2007PLC042792
TAN No.: [Tax Deduction & Collection Account No.]	BLRX00082F
PAN No.: [Permanent Account No.]	AAACX0521A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is involved in the business of iron ore processing, steel making, steel and iron finished product manufacturing and other associated activities
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 2800000
Status :	Yet to commenced business
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Though the company incorporated in the year 2007. It is yet to commenced its commercial operation. Payments are unknown. The company can be considered for business dealings with some caution.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating : BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	September 11, 2012

Rating Agency Name	CRISIL
Rating	Short term rating : A3
Rating Explanation	Moderate degree of safety and higher.
Date	September 11, 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered / Corporate Office :	No. 52/44, 8th Main, 2nd Cross, Ganesha Block, Mahalaxmi Layout, Bangalore – 560096, Karnataka, India
Tel. No.:	91-80-23599222/ 23497581
Fax No.:	91-80-23192498/ 23491490
E-Mail :	mh2@xindiasteels.com alex@xindiasteels.com alex@manasara.com info@xindiasteels.com
Website :	www.xindiasteels.com
Works :	Kunikere and Hirebaganal Village, Ginigera Post, District Koppal - 583228, Karnataka, India
Tel. No.:	91-8539-264133
Fax No.:	91-8539-264145
E-Mail :	info@xindiasteels.com

DIRECTORS

AS ON 22.08.2011

Name :

Mr. Yang Bin

Designation :

Chairman and Managing Director

Address :

5-3-2, 2672 Worker Village, Fuxing District, Handan City Heibei Province, China

Date of Birth/Age :

04.05.1964

Qualification :

Post Graduate

Date of Appointment :

10.07.2011

DIN No.:

02079200

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27106KA2007PLC042792	XINDIA STEELS LIMITED	Director	10/07/2011	17/09/2008	-	Active	NO

Name :

Mr. Alex Puthenchira Johnson

Designation :

Director

Address :

F-204, Raheja Gardenia, 38, Millers Road, Opposite Benson Town, Bangalore – 560046, Karnataka, India

Date of Birth/Age :

31.05.1965

Date of Appointment :

01.01.2012

DIN No.:

00502359

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U40100KA2005PLC036884	ZEALTEC ENERGY LIMITED	Director	03/08/2005	03/08/2005	-	Active	NO
2	U51420KA2006PLC040284	MINMET GLOBAL INFRASTRUCTURE LIMITED	Director	25/08/2006	25/08/2006	-	Active	NO
3	U27106KA2007PLC042792	XINDIA STEELS LIMITED	Director	01/01/2012	14/05/2007	-	Active	NO
4	U85110KA1996PLC021030	HAMPI INDUSTRRY LIMITED	Director	15/09/2008	06/09/2007	-	Amalgamated	NO
5	U32202KA1994PLC015460	CELLCOMM SOLUTIONS LIMITED	Director	30/09/2008	16/11/2007	-	Active	NO
6	U45201KA2009PLC049358	XINDIA CONSTRUCTIONS LIMITED	Director	12/03/2009	12/03/2009	-	Active	NO
7	U13209KA2010PTC053636	BESTO MINING INDIA PRIVATE LIMITED	Director	14/05/2010	14/05/2010	-	Active	NO
8	U14200KA2008PLC045891	DAKSHIN MINES AND MINERALS LIMITED	Additional director	17/08/2010	17/08/2010	31/12/2010	Active	NO
9	U27310KA2010PLC055188	TUNGABHADRA BENEFICIATION LIMITED	Director	17/09/2010	17/09/2010	-	Active	NO
10	U26940KA2010PLC055251	XINDIA INTERNATIONAL CEMENTS LIMITED	Director	22/09/2010	22/09/2010	-	Active	NO
11	U15492KA2011PTC060584	ORIGIN COFFEE ROASTING PRIVATE LIMITED	Director	26/09/2011	26/09/2011	-	Active	NO
12	U15490KL2012PTC031281	PRASAN SOLUTIONS (INDIA) PRIVATE LIMITED	Director	22/05/2012	22/05/2012	-	Active	NO

Name :

Mr. Kuruvilla Joseph Kelachandra

Designation :

Director

Address :

No. 5/3, Embassy Woods, No. 6A, Cunningham Road, Bangalore – 560052, Karnataka, India

Date of Birth/Age :

30.05.1955

Qualification :

Graduate

Date of Appointment :

17.09.2008

DIN No.:

00945900

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U25199KA1991PTC012257	KINGSWAY RUBBER PRODUCTS PRIVATE LIMITED	Director	26/08/1991	26/08/1991	-	Active	NO
2	U60231KA1984PTC006006	KELACHANDRA LOGISTICS PRIVATE LIMITED	Director	18/06/1992	18/06/1992	-	Active	NO
3	U85110KA1994PLC016453	KELACHANDRA LEASINGANDFINANCE LIMITED	Managing director	25/10/1994	25/10/1994	-	Active	NO
4	U25191KL1910PLC000516	KUTTANAD RUBBER CO LTD	Managing director	29/03/1995	29/03/1995	-	Active	NO
5