MIRA INFORM REPORT

Report Date :

28.12.2013

IDENTIFICATION DETAILS

Name :	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED
Registered Office :	392, E Ward, Shahupuri, Kolhapur – 416001, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	08.10.2010
Com. Reg. No.:	11-137493
Capital Investment / Paid-up Capital :	Rs. 153.100 Millions
CIN No.: [Company Identification No.]	U27100PN2010PTC137493
TAN No.: [Tax Deduction & Collection Account No.]	KLPS08450B
PAN No.: [Permanent Account No.]	AAOCS8603A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Heavy Cast Iron (CI) and SG Iron Castings required for Wind Turbines, Machine Tools and for Pumps and Valves.
No. of Employees :	125 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

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 :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a subsidiary of “S.B. Reshellers Private Limited”. It is an established company having moderate track record. Even though the company was incorporated in 2010, it started its commercial activity from June 2012. Mr. Rahul from Accounts Department has provided us the general information. There appear accumulated loss recorded by the company during 2013. The rating takes into consideration by its weak liquidity, slow offtake of revenues, challenging business environment in the casting and forging industry. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on safe and 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, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating: “D”
Date	23.09.2013

Rating Agency Name	CRISIL
Rating	Short term rating: “D”
Date	23.09.2013

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.

INFORMATION PARTED BY

Name :	Mr. Rahul
Designation :	Accounts Department
Contact No.:	91-231-2658375
Date :	21.12.2013

LOCATIONS

Registered / Corporate Office:	392, E Ward, Shahupuri, Kolhapur - 416001, Maharashtra, India
Tel. No.:	91-231-2658375
Fax No.:	91-231-2658375
E-Mail :	vsr@synergygreenind.com rbb@synergygreenind.com
Website :	http://www.synergygreenind.com
Location :	Owned
Factory :	C18, MIDC, Kagal, 5-Star Industrial Area, Hatkanagale, Kolhapur - 416216, Maharashtra, India
Tel. No.:	91-231-2658375 91-230-2305311/ 2305312
Fax No.:	91-231-2658375

DIRECTORS

As on 30.09.2013

Name :

Mr. Sachin Rajendra Shirgaokar

Designation :

Managing director

Address :

Meena Sarlshkar Heritage, Opposite Circuit House, Tarabai Park, Kolhapur - 416001, Maharashtra, India

Date of Birth/Age :

26.02.1966

Date of Appointment :

01.01.2011

PAN No.:

ACLPS8941H

DIN No.:

01512497

Other Directorship:

	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	U29254MH1981PTC025896	SHANTARAM MACHINERIES PRIVATE LIMITED	Whole-time director	29/09/1992	29/09/1992	-	Active	NO
2	U29199MH1949PTC007210	S.B. RESHELLERS PRIVATE LIMITED	Managing director	17/06/1994	17/06/1994	-	Active	NO
3	U26933PN1989PTC052548	TARA TILES PRIVATE LIMITED	Director	20/01/1999	20/01/1999	-	Active	NO
4	U45401PN1994PTC077268	KOLHAPUR AIROCHEM PRIVATE LIMITED	Director	02/03/1999	02/03/1999	06/06/2013	Active	NO
5	U29299KA2000PTC027931	COSMOS MACHINING TECHNOLOGIES PRIVATE LIMITED	Director	10/10/2000	10/10/2000	-	Active	NO
6	U28112MH1989PTC053453	SANGLI FABRICATORS PRIVATE LIMITED	Director	28/08/2002	28/08/2002	-	Active	NO
7	U20232MH2001PLC045250	UGAR CONSULTANCY LIMITED	Director	27/04/2005	27/04/2005	-	Active	NO
8	U27100PN2010PTC137493	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED	Managing director	01/01/2011	08/10/2010	-	Active	NO
9	U65993MH1989PTC053183	SANJIV SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	30/08/2011	05/12/2010	-	Active	NO
10	U65993PN1987PTC045242	VINAYAK SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	30/08/2011	05/12/2010	-	Active	NO
11	U65993PN1987PTC045227	D M SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	30/08/2012	16/12/2011	-	Active	NO
12	U67110PN1993PTC072412	MOHAN SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	01/10/2013	01/10/2013	-	Active	NO

Name :

Mr. Sohan Sanjeev Shirgaokar

Designation :

Managing director

Address :

A/P, Ugar Khurd, Taluka Athani, District Belgaum - 591316, Karnataka, India

Date of Birth/Age :

07.12.1982

Date of Appointment :

01.01.2011

PAN No.:

ALLPS5534R

DIN No.:

00217631

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	U65993PN1991PTC063164	PRAFULLA SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	20/07/2004	20/07/2004	-	Active	NO
2	U65993MH1989PTC053183	SANJIV SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	25/04/2006	25/04/2006	-	Active	NO
3	U29199MH1949PTC007210	S.B. RESHELLERS PRIVATE LIMITED	Managing director	22/08/2012	16/04/2008	-	Active	NO
4	U15421KA2002PLC029968	SADASHIVA SUGARS LIMITED	Director	29/07/2008	29/07/2008	10/10/2009	Active	NO
5	U29254MH1981PTC025896	SHANTARAM MACHINERIES PRIVATE LIMITED	Whole-time director	22/08/2012	16/09/2009	-	Active	NO
6	U27100PN2010PTC137493	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED	Managing director	01/01/2011	08/10/2010	-	Active	NO
7	U65993PN1987PTC045227	D M SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	30/08/2012	16/12/2011	-	Active	NO
8	U67110PN1993PTC072412	MOHAN SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	01/10/2013	01/10/2013	-	Active	NO

Name :

Mr. Rajendra Vinayak Shirgaokar

Designation :

Director

Address :

A/P, Ugar Khurd, Taluka Athani, District Belgaum - 591316, Karnataka, India

Date of Birth/Age :

10.06.1935

Date of Appointment :

21.12.2011

DIN No.:

00542644

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	U27106MH1973PTC016697	SHAKTI ALLOY STEELS LTD	Director	21/07/1973	21/07/1973	-	Active	NO
2	L15421PN1939PLC006738	THE UGAR SUGAR WORKS LTD	Director	19/09/2009	01/02/1976	-	Active	NO
3	U20232MH2001PLC045250	UGAR CONSULTANCY LIMITED	Director	10/11/1987	10/11/1987	-	Active	NO
4	U00113KA1947PTC000950	BSJ ENGINEERING PRIVATE LIMITED	Director	05/09/1996	05/09/1996	-	Active	NO
5	U65993PN1987PTC045234	SURESH SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	20/10/1997	20/10/1997	-	Active	NO
6	U65993PN1989PTC053452	SHISHIR SHIRGAOKAR INVESTMENTS P LTD	Director	20/10/1997	20/10/1997	-	Active	NO
7	U29199MH1949PTC007210	S.B. RESHELLERS PRIVATE LIMITED	Director	24/11/1999	24/11/1999	-	Active	NO
8	U99999DL1969GAP005106	INDIAN SUGAR EXIM CORPORATION LIMITED	Nominee director	26/09/2006	26/09/2006	12/11/2009	Active	NO
9	U27100PN2010PTC137493	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED	Director	21/12/2011	19/01/2011	-	Active	NO

Name :

Mr. Prafulla Vinayak Shirgaokar

Designation :

Director

Address :

A/P, Ugar Khurd, Taluka Athani, District Belgaum - 591316, Karnataka, India

Date of Birth/Age :

11.09.1938

Date of Appointment :

21.12.2011

DIN No.:

00151114

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	U29254MH1981PTC025896	SHANTARAM MACHINERIES PRIVATE LIMITED	Director	07/12/1983	07/12/1983	-	Active	NO
2	U65993PN1987PTC045227	D M SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	09/11/1987	09/11/1987	-	Active	NO
3	U20232MH2001PLC045250	UGAR CONSULTANCY LIMITED	Director	10/11/1987	10/11/1987	-	Active	NO
4	U65993PN1991PTC063164	PRAFULLA SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	03/09/1991	03/09/1991	-	Active	NO
5	L15421PN1939PLC006738	THE UGAR SUGAR WORKS LTD	Whole-time director	01/04/2013	05/08/1994	-	Active	NO
6	U29199MH1949PTC007210	S.B. RESHELLERS PRIVATE LIMITED	Director	20/03/1997	20/03/1997	-	Active	NO
7	U67110PN1993PTC072412	MOHAN SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	20/10/1997	20/10/1997	-	Active	NO
8	U65993PN1988PTC045912	PRABHAKAR SHIRGAONKAR INVESTMENTS PRIVATE LIMITED	Director	20/10/1997	20/10/1997	-	Active	NO
9	U26933PN1989PTC052548	TARA TILES PRIVATE LIMITED	Director	20/01/1999	20/01/1999	-	Active	NO
10	U33205KA1977PTC003250	UGAR THEATRE PRIVATE LIMITED	Director	12/08/1999	12/08/1999	-	Active	NO
11	U26932MH1989PTC053446	UGAR PIPE INDUSTRIES PRIVATE LIMITED	Director	21/05/2004	21/05/2004	-	Active	NO
12	U65993PN1987PTC045242	VINAYAK SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	20/07/2004	20/07/2004	-	Active	NO
13	U00113KA1947PTC000950	BSJ ENGINEERING PRIVATE LIMITED	Director	22/06/2006	22/06/2006	-	Active	NO
14	U27100PN2010PTC137493	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED	Director	21/12/2011	19/01/2011	-	Active	NO

Name :

Mr. Chandan Sanjeev Shirgaokar

Designation :

Director

Address :

A/P, Ugar Khurd, Taluka Athani, District Belgaum-591 316, Karnataka, India

Date of Birth/Age :

20.10.1977

Date of Appointment :

21.12.2011

DIN No.:

00208200

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	U26932MH1989PTC053446	UGAR PIPE INDUSTRIES PRIVATE LIMITED	Director	20/02/2003	20/02/2003	-	Active	NO
2	U92141MH1981PTC025254	B B THEATRES PRIVATE LIMITED	Director	20/08/2003	20/08/2003	-	Active	NO
3	U65993MH1989PTC053183	SANJIV SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	20/07/2004	20/07/2004	-	Active	NO
4	U28112MH1989PTC053453	SANGLI FABRICATORS LIMITED	Director	20/07/2004	20/07/2004	-	Active	NO
5	U65993PN1987PTC045242	VINAYAK SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	20/07/2004	20/07/2004	-	Active	NO
6	U29199MH1949PTC007210	S.B. RESHELLERS PRIVATE LIMITED	Director	01/08/2004	01/08/2004	-	Active	NO
7	U65993PN1987PTC045234	SURESH SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	31/08/2010	25/09/2009	-	Active	NO
8	U74950PN2006PTC128632	UGAR QUALITY PACKAGING PRIVATE LIMITED	Director	30/09/2010	18/03/2010	-	Active	NO
9	U27100PN2010PTC137493	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED	Director	21/12/2011	19/01/2011	-	Active	NO
10	L15421PN1939PLC006738	THE UGAR SUGAR WORKS LIMITED	Whole-time director	01/04/2013	01/04/2011	-	Active	NO

Name :

Mr. Niraj Shishir Shirgaokar

Designation :

Director

Address :

Rishi Apartment, Lane 6, Kalyani Nagar, Pune 410006, Maharashtra, India

Date of Birth/Age :

25.05.1972

Date of Appointment :

21.12.2011

DIN No.:

00254525

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	U29199MH1949PTC007210	S.B. RESHELLERS PRIVATE LIMITED	Director	20/02/2006	20/02/2006	-	Active	NO
2	U74950PN2006PTC128632	UGAR QUALITY PACKAGING PRIVATE LIMITED	Director	30/09/2008	11/11/2007	-	Active	NO
3	U73200PN2008PTC131505	INTELLECTUAL RESEARCH SERVICES PRIVATE LIMITED	Director	27/02/2008	27/02/2008	-	Active	NO
4	U27100PN2010PTC137493	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED	Director	21/12/2011	19/01/2011	-	Active	NO
5	L15421PN1939PLC006738	THE UGAR SUGAR WORKS LIMITED	Whole-time director	01/04/2013	01/04/2011	-	Active	NO

Name :

Mr. Sanat Kumar Shirgaokar

Designation :

Director

Address :

330 E, Shahupuri, Station Road, Kolhapur - 416001, Maharashtra, India

Date of Birth/Age :

20.03.1963

Date of Appointment :

21.12.2011

DIN No.:

00208235

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	U29199MH1949PTC007210	S.B. RESHELLERS PRIVATE LIMITED	Director	17/06/1996	17/06/1996	13/10/2013	Active	NO
2	U65993PN1989PTC053452	SHISHIR SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	20/11/1997	20/11/1997	13/10/2013	Active	NO
3	U65993PN1987PTC045234	SURESH SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	20/11/1997	20/11/1997	13/10/2013	Active	NO
4	U26933PN1989PTC052548	TARA TILES PRIVATE LIMITED	Director	20/01/1999	20/01/1999	13/10/2013	Active	NO
5	U92141MH1981PTC025254	B B THEATRES PRIVATE LIMITED	Director	20/01/2003	20/01/2003	-	Active	NO
6	U67110PN1993PTC072412	MOHAN SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	20/07/2004	20/07/2004	13/10/2013	Active	NO
7	U65993PN1987PTC045227	D M SHIRGAOKAR INVESTMENTS PRIVATE LIMITED	Director	20/07/2004	20/07/2004	13/10/2013	Active	NO
8	U15421KA2002PLC029968	SADASHIVA SUGARS LIMITED	Whole-time director	09/12/2005	09/12/2005	10/10/2009	Active	NO
9	U65993PN1988PTC045912	PRABHAKAR SHIRGAONKAR INVESTMENTS PRIVATE LIMITED	Director	25/04/2006	25/04/2006	13/10/2013	Active	NO
10	U29254MH1981PTC025896	SHANTARAM MACHINERIES PRIVATE LIMITED	Director	16/09/2009	16/09/2009	13/10/2013	Active	NO
11	U28112MH1989PTC053453	SANGLI FABRICATORS PRIVATE LIMITED	Director	30/09/2010	01/10/2009	13/10/2013	Active	NO
12	L15421PN1939PLC006738	THE UGAR SUGAR WORKS LIMITED	Director	25/09/2010	28/01/2010	13/10/2013	Active	NO
13	U74950PN2006PTC128632	UGAR QUALITY PACKAGING PRIVATE LIMITED	Director	30/09/2010	18/03/2010	-	Active	NO
14	U27100PN2010PTC137493	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED	Director	21/12/2011	19/01/2011	13/10/2013	Active	NO

Name :

Mr. Jeevan Vasant Shirgaokar

Designation :

Director

Address :

9, Amey Co-operative Housing Society, Mali Colony, Takala, Kolhapur - 416008, Maharashtra, India

Date of Birth/Age :

18.04.1957

Date of Appointment :

21.12.2011

DIN No.:

00254572

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	U45401PN1994PTC077268	KOLHAPUR AIROCHEM PRIVATE LIMITED	Director	20/01/1999	20/01/1999	19/03/2008	Active	NO
2	U29199MH1949PTC007210	S.B. RESHELLERS PRIVATE LIMITED	Whole-time director	24/11/1999	24/11/1999	-	Active	NO
3	U27100PN2010PTC137493	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED	Director	21/12/2011	19/01/2011	-	Active	NO

Name :

Mr. Anant Shriniwas Huilgol

Designation :

Director

Address :

2147, Shrinivas, Tarabai Park, Kolhapur - 416003, Maharashtra, India

Date of Birth/Age :

03.06.1939

Date of Appointment :

21.12.2011

DIN No.:

00254492

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	Company/ LLP Status	Defaulting status
1	U29223KA1989PTC009884	BELGAUM CNC APPLICATIONS PRIVATE LIMITED	Director	29/04/1990	29/04/1990	Active	NO
2	U71200KA1991PTC011559	GALAXY MACHINERY PRIVATE LIMITED	Director	22/11/1991	22/11/1991	Active	NO
3	U29199MH1949PTC007210	S.B. RESHELLERS PRIVATE LIMITED	Director	27/11/2010	24/11/1999	Active	NO
4	U29299KA2000PTC027931	COSMOS MACHINING TECHNOLOGIES PRIVATE LIMITED	Director	10/10/2000	10/10/2000	Active	NO
5	U27100PN2010PTC137493	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED	Director	21/12/2011	19/01/2011	Active	NO

Name :

Vendavagali Srinivasa Reddy

Designation :

Whole-time director

Address :

Flat No. 507, 5^th Floor, of HR-1, Hari Pooja Puram, 177 E Ward, Nagala Park, Kolhapur – 416003, Maharashtra, India

Date of Birth/Age :

01.06.1969

Date of Appointment :

28.09.2012

PAN No.:

AECPR3729M

DIN No.:

03425960

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	U27100PN2010PTC137493	SYNERGY GREEN INDUSTRIES PRIVATE LIMITED	Whole-time director	28/09/2012	01/04/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rahul
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Equity Shareholders	No. of Shares
Sachin Rajendra Shirgaokar	5000
Sohan Sanjeev Shirgaokar	5000
S. B. Reshellers Private Limited, India	2622982
Sachin Rajendra Shirgaokar and Laxmi Sachin Shirgaokar	363114
Laxmi Sachin Shirgaokar and Sachin Rajendra Shirgaokar	20000
Rajendra Vinayak Shirgaokar and Sachin Rajendra Shirgaokar	10000
Chandan Sanjeev Shirgaokar and Radhika Sanjeev Shirgaokar	3951
Radhika Sanjeev Shirgaokar and Chandan Sanjeev Shirgaokar	371176
Sohan Sanjeev Shirgaokar and Radhika Sanjeev Shirgaokar	3952
Radhika Sanjeev Shirgaokar and Sohan Sanjeev Shirgaokar	371177
Prafulla Vinayak Shirgaokar and Smita Prafulla Shirgaokar	51266
Smita Prafulla Shirgaokar and Prafulla Vinayak Shirgaokar	14650
Shishir Suresh Shirgaokar and Savita Shishir Shirgaokar	84932
Vendavagali Srinivasa Reddy and Kuberi Vendavagali Reddy	750000
Dinkar Madhusudan Shirgaokar and Shradha Dinkar Shirgaokar	819
Vinayak Shirgaokar Investments Private Limited, India	72500
Prafulla Shirgaokar Investments Private Limited, India	15000
Suresh Shirgaokar Investments Private Limited, India	59246
Prabhakar Shirgaokar Investments Private Limited, India	4500
D. M. Shirgaokar Investments Private Limited, India	100433
Jeevan Vasant Shirgaokar and Anuja Jeevan Shiragaonkar	14460
Anant Shrinivas Huilgol and Asha Anant Huilgol	34218
Anant Huilgol and Namita Sandeep Huilgol	205
Asha Anant Huilgol and Sandeep Anant Huilgol	9945
Mukund Krishnaji Kulkarni and Alakananda Mukund Kulkarni	11474
Total	5000000

Names of Preference Shareholders	No. of Shares
S. B. Reshellers Private Limited, India	856000
Vendavagali Srinivasa Reddy and Kuberi Vendavagali Reddy	25000
The Ugar Sugar Works Limited, India	150000
Total	1031000

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	57.49
Directors or relatives of Directors	42.26
Others	0.25
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Heavy Cast Iron (CI) and SG Iron Castings required for Wind Turbines, Machine Tools and for Pumps and Valves.

Products :

Item Code No. (ITC Code)	Product Description
73251000	C.L.Shells, Structure Base
84129090	Base Frame, Belt Drive, Hollow Shaft, Hub, Main Axle

Exports :

Products :

Finished Goods

Countries :

· Scotland

Imports :

Products :

Raw Material

Countries :

· Italy

South Africa

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

OEM’s and End Users

No. of Employees :

125 (Approximately)

Bankers :

· Bank of Baroda, Morarji Khimji Building, Near Jain Basti, 1st Lane, Shahupuri, Kolhapur - 416001, Maharashtra, India

HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Term loans from others	289.371	251.683
SHORT TERM BORROWINGS
Working capital loans from banks	73.576	0.000
Total	362.947	251.683

NOTE

LONG TERM BORROWINGS

Term loan from Bank of Baroda(BOB) : Rs.289.371 Millions Security: Hypothecation of plant and machineries, shed materials and equitable mortgage of factory land, building at Kagal location; and collateral charge over the current assets Entire amount has been personally guaranteed, jointly and severally, by Managing Director, Jt. Managing Director and Corporate Guarantee by S.B.Reshellers Private Limited, the holding company.

SHORT TERM BORROWINGS

Cash Credit from Bank of Baroda(BOB) : Rs. 73.576 Millions Security : Hypothecation of stock, book debts,current and future and collateral security in nature of equitable mortgage of factory and building and extended charge on plant & machineries of company Entire amount has been personally guaranteed, jointly and severally, by Managing Director, Jt. Managing Director and Corporate Guarantee by S.B.Reshellers Private Limited, the holding company.

Banking Relations :	--
Auditors :
Name :	P G Bhagwat Chartered Accountant
Address :	Cs No 250 / B/2, Lower Ground Floor, Shop No. 3, Anant Paradise, Nagala Park, Kolhapur – 416003, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAAFB0762E
Holding Company :	S.B. Reshellers Private Limited, India CIN No.: U29199MH1949PTC007210
Associate:	Shantaram Machineries Private Limited CIN No.: U29254MH1981PTC025896
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	The Ugar Sugar Works Limited CIN No.: L15421PN1939PLC006738
Other Related Parties:	· Vinayak Shirgaokar Investments Private Limited Sanjeev Shirgaokar Investment Private Limited Ugar Pipe Industries Private Limited D.M Shirgaokar Investment Private Limited Suresh Shirgaokar Investment Private Limited

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions
1,100,000	Preference Shares	Rs. 100/- each	Rs. 110.000 Millions
	Total		Rs. 160.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions
1,031,000	Preference Shares	Rs. 100/- each	Rs. 103.100 Millions
	Total		Rs. 153.100 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	153.100	121.600	0.100
(b) Reserves & Surplus	(90.527)	0.000	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	6.900	15.654	17.760
Total Shareholders’ Funds (1) + (2)	69.473	137.254	17.860
(3) Non-Current Liabilities
(a) long-term borrowings	289.371	251.683	0.515
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	24.490	19.601	0.500
(d) long-term provisions	1.071	0.405	0.096
Total Non-current Liabilities (3)	314.932	271.689	1.111
(4) Current Liabilities
(a) Short term borrowings	73.576	0.000	0.000
(b) Trade payables	62.631	0.000	0.000
(c) Other current liabilities	74.932	6.554	1.641
(d) Short-term provisions	0.384	0.146	0.000
Total Current Liabilities (4)	211.523	6.700	1.641
TOTAL	595.928	415.643	20.612
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	408.113	15.041	0.000
(ii) Intangible Assets	3.507	0.000	0.000
(iii) Capital work-in-progress	13.624	365.511	4.965
(iv) Intangible assets under development	0.000	4.449	0.037
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	17.127	0.000	0.000
(d) Long-term Loan and Advances	2.676	2.783	13.053
(e) Other Non-current assets	3.374	2.460	0.075
Total Non-Current Assets	448.421	390.244	18.130
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	60.879	0.000	0.000
(c) Trade receivables	57.254	0.000	0.000
(d) Cash and cash equivalents	3.233	4.938	2.482
(e) Short-term loans and advances	0.023	0.026	0.000
(f) Other current assets	26.118	20.435	0.000
Total Current Assets	147.507	25.399	2.482
TOTAL	595.928	415.643	20.612

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		TOTAL	95.440	0.000	0.000
Less	EXPENSES
		TOTAL	203.094	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX		(107.654)	0.000	0.000
Less	TAX		(17.127)	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		(90.527)	0.000	0.000
	Earnings / (Loss) Per Share (Rs.)		(15.01)	0.00	0.00

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(94.85)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(19.05)	0.00	0.00
Return on Investment (ROI) (PBT/Networth)		(1.55)	0.00	0.00
Debt Equity Ratio (Total Debt/Networth)		5.22	1.83	0.03
Current Ratio (Current Asset/Current Liability)		0.70	3.79	1.51

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10430224	11/05/2013	32,400,000.00	BANK OF BARODA	MORARJI KHIMJI BUILDING, NEAR JAIN BASTI, 1ST LANE, SHAHUPURI, KOLHAPUR - 416001, MAHARASHTRA, INDIA	B76776806
2	10312545	31/07/2012 *	109,000,000.00	BANK OF BARODA	MORARJI KHIMJI BUILDING, NEAR JAIN BASTI, 1ST LANE, SHAHUPURI, KOLHAPUR - 416001, MAHARASHTRA, INDIA	B55902720
3	10312548	29/03/2012 *	337,600,000.00	BANK OF BARODA	MORARJI KHIMJI BUILDING, NEAR JAIN BASTI, 1ST LANE, SHAHUPURI, KOLHAPUR - 416001, MAHARASHTRA, INDIA	B37285855
4	10260756	22/12/2010	800,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	B03348877

* Date of charge modification

CORPORATE INFORMATION

Incorporated as on 08-10-2010, Subject is a subsidiary of S.B.Reshellers Private Limited. The Company manufactures Heavy Cast Iron(CI) and SG Iron Castings required for Wind Turbines, Machine Tools and for Pumps and Valves. The Works is situated at Kagal - Hatkanangale Five Star Industrial Area, Kolhapur - 416216.

FIXED ASSETS

v Tangible Assets

Land

Buildings

Plant and Equipment

Furniture and Fixtures

Vehicles

Motor Vehicles

Office Equipment

Computer Equipments

Other Equipments

v Intangible Assets

Computer Software

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 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.62.06
UK Pound	1	Rs.102.03
Euro	1	Rs.85.27

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		13

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.