MIRA INFORM REPORT

Report Date :

19.07.2013

IDENTIFICATION DETAILS

Name :	HALDIA COKE AND CHEMICALS PRIVATE LIMITED (w.e.f. 05.07.2010)
Formerly Known As :	HALDIA COKE AND CHEMICALS LIMITED
Registered Office :	Sigappi Achi Building, 1^st Floor, 18/3 Rukmini Lakshmipathi Road, Egmore, Chennai – 600008, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	17.09.2004
Com. Reg. No.:	18-054260
Capital Investment / Paid-up Capital :	Rs. 1708.734 millions
CIN No.: [Company Identification No.]	U15541TN2004PTC054260
PAN No.: [Permanent Account No.]	AABCH5389P
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is an Integrated Merchant Met Coke Producer and also operates Captive Coking Coal Mines.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 9170000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an old and established company having a moderate track record. The reserves and profit margin is low. However, trade relations are reported as fair. Business is active. Payment terms are slow but correct. 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating: “B”
Rating Explanation	High risk of default
Date	April 30, 2013

Rating Agency Name	CRISIL
Rating	Short term raring : “A4”
Rating Explanation	Minimal degree of safety and very high credit risk
Date	April 30, 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.

LOCATIONS

Registered Office :	Sigappi Achi Building, 1^st Floor, 18/3 Rukmini Lakshmipathi Road, Egmore, Chennai – 600008, Tamilnadu, India
Tel. No. :	Not Available
Fax No. :	Not Available
E-Mail :	seclcoke@ennorecoke.com

DIRECTORS

As on 26.09.2012

Name :

Mr. Thyagarajan Shivaraman

Designation :

Director

Address :

12, Besant Road, (off Lloyds Road), Royapettah, Chennai – 600014, Tamilnadu, India

Date of Birth/Age :

18.11.1965

Date of Appointment :

30.09.2011

PAN No.:

AACPS3488G

DIN No. :

01312018

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	U74140TN2003PTC050814	ASIA-PACIFIC RISK MANAGEMENT SERVICES PRIVATE LIMITED	Director	09/05/2003	09/05/2003	03/10/2006	Active	NO
2	U31101TN2007PLC061993	LEITWIND SHRIRAM MANUFACTURING LIMITED	Director	24/02/2007	24/02/2007	-	Active	NO
3	U31101TN2007PLC061935	SHRIRAM LEITWIND LIMITED	Director	21/03/2007	21/03/2007	27/06/2008	Amalgamated	NO
4	U29222MH1971PTC015045	HAMON SHRIRAM COTTRELL PRIVATE LIMITED	Director	23/03/2007	23/03/2007	-	Active	NO
5	L74210TN2000PLC045167	SHRIRAM EPC LIMITED	Managing director	20/09/2012	10/09/2007	-	Active	NO
6	U93090TN1984NPL010786	INDIA-ASEAN-SRI LANKA CHAMBER OF COMMERCE AND INDUSTRY	Director	26/09/2008	26/09/2008	29/09/2009	Active	NO
7	L40108TN2006PLC061665	ORIENT GREEN POWER COMPANY LIMITED	Whole-time director	27/03/2010	28/01/2010	-	Active	NO
8	U93000TN2010PTC074778	THETA MANAGEMENT CONSULTANCY PRIVATE LIMITED	Director	23/11/2010	03/03/2010	-	Active	NO
9	U15541TN2004PTC054260	HALDIA COKE AND CHEMICALS PRIVATE LIMITED	Director	30/09/2011	12/07/2010	-	Active	NO
10	U40104TN2012PLC083988	SPARK ENVIRONMENTAL TECHNOLOGY LIMITED	Director	13/01/2012	13/01/2012	06/02/2012	Active	NO
11	AAA-4954	ASTS MANAGEMENT CONSULTANCY LLP	Designated Partner	25/05/2011	25/05/2011	-	Active	NO

Name :

Mr. Rangaswami Ramakrishnan

Designation :

Director

Address :

No. 27 (Old No.14), Seethamma Road, Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

26.03.1946

Date of Appointment :

30.09.2011

DIN No. :

00809342

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	U22121TN1970PLC005916	DINAMANI PUBLICATIONS LIMITED	Director	03/11/1970	03/11/1970	28/09/2007	Active	NO
2	U74999TN1922NPL001455	MADRAS RACE CLUB	Director	25/09/1996	25/09/1996	-	Active	NO
3	U55101TN1997PTC038809	SWETHA ENTERPRISES PRIVATE LIMITED	Managing director	18/06/1999	18/06/1999	-	Active	NO
4	U99999KA1962PLC001449	BANGALORE TURF CLUB LIMITED	Director	25/09/2006	25/09/2006	29/09/2008	Active	NO
5	U51393KA2007PTC043056	SAASHA LIFE STYLE PRODUCTS PRIVATE LIMITED	Director	07/06/2007	07/06/2007	06/08/2008	Active	YES
6	U29309TN1989PLC017819	GLOBAL POWERTECH EQUIPMENTS LIMITED	Additional director	31/01/2008	31/01/2008	22/10/2008	Active	NO
7	L65921TN1985PLC070358	ENNORE COKE LIMITED	Director	22/09/2009	31/10/2008	-	Active	NO
8	U52333KA2008PTC048265	SIMPLY SOFAS PRIVATE LIMITED	Director	14/11/2008	14/11/2008	-	Active	NO
9	U52399KA2009PTC048771	STANLEY BOUTIQUE PRIVATE LIMITED	Director	01/01/2009	01/01/2009	-	Active	NO
10	L35921TN1992PLC022845	TVS MOTOR COMPANY LIMITED	Director	08/09/2010	11/03/2009	-	Active	NO
11	L45201TN1988PLC015521	PREMIER ENERGY AND INFRASTRUCTURE LIMITED	Director	29/09/2009	03/06/2009	-	Active	NO
12	U24119TN2009PLC072263	BHARATH COAL CHEMICALS LIMITED	Director	13/07/2009	13/07/2009	09/03/2011	Active	NO
13	U52100KA2009PTC050631	DESIGNO INDIA FURNITURES PRIVATE LIMITED	Director	12/08/2009	12/08/2009	-	Active	NO
14	U52339KA2009PTC050619	DESIGNO LIFE STYLE SOLUTIONS PRIVATE LIMITED	Director	12/08/2009	12/08/2009	-	Active	NO
15	U65920TN2008PLC069758	TVS CREDIT SERVICES LIMITED	Director	23/06/2010	03/05/2010	-	Active	NO
16	U15541TN2004PTC054260	HALDIA COKE AND CHEMICALS PRIVATE LIMITED	Director	30/09/2011	12/07/2010	-	Active	NO
17	U52399KA2010PTC055265	THANSA INSPIRATIONS PRIVATE LIMITED	Director	22/09/2010	22/09/2010	-	Active	NO
18	U52110KA2010PTC055315	CANTATA HOME FURNITURES PRIVATE LIMITED	Director	27/09/2010	27/09/2010	-	Active	NO
19	U52110KA2010PTC055314	THANSA HOME FURNITURES PRIVATE LIMITED	Director	27/09/2010	27/09/2010	-	Active	NO
20	U23200TN2012PLC085299	ASIA COKE LIMITED	Director	04/04/2012	04/04/2012	-	Active	NO

Name :

Mr. Ranjit Jayantilal Shah

Designation :

Director1

Address :

20, 2^nd Floor, CCI Chambers, Dinshaw Wachha Road, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

30.05.1958

Date of Appointment :

30.09.2011

DIN No. :

00088405

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	U32100MH1983PTC029356	URBI ELECTRONICS PRIVATE LIMITED	Director	19/02/1983	19/02/1983	-	Active	NO
2	U67190DL1999PTC099260	GAJA ADVISORS PRIVATE LIMITED	Whole-time director	01/10/2007	10/04/2006	-	Active	NO
3	U65100DL2007PTC163599	GAJA TRUSTEE COMPANY PRIVATE LIMITED	Additional director	10/08/2007	10/08/2007	04/11/2008	Active	NO
4	U93000DL2007PTC171780	GAJA CORPORATE ADVISORS PRIVATE LIMITED	Director	16/10/2008	10/01/2008	-	Active	NO
5	U51102DL1996PTC081329	BILAKES CONSULTING PRIVATE LIMITED	Director	30/05/2008	29/04/2008	03/02/2012	Active	NO
6	U65993DL1991PTC044541	SUNGLOW FININVEST PRIVATE LIMITED	Director	26/09/2009	19/05/2009	-	Active	NO
7	U01111DL2002PTC117815	BONANZA COMMODITY BROKERS PRIVATE LIMITED	Director	26/09/2009	19/05/2009	-	Active	NO
8	U15541TN2004PTC054260	HALDIA COKE AND CHEMICALS PRIVATE LIMITED	Director	30/09/2011	02/08/2010	-	Active	NO
9	U23109WB2004PLC100467	WELLMAN COKE INDIA LIMITED	Director	27/09/2010	03/08/2010	-	Active	NO
10	U52100MH2010PTC209496	RAMS MERCANTILE PRIVATE LIMITED	Director	27/10/2010	27/10/2010	-	Active	NO
11	U51228KA1996PTC021158	JOHN DISTILLERIES PRIVATE LIMITED	Nominee director	23/04/2011	18/03/2011	-	Active	NO
12	U34200DL2008PTC172214	CARNATION AUTO INDIA PRIVATE LIMITED	Nominee director	20/12/2011	20/12/2011	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Kirithika M
Designation :	Secretary
Address :	38/10, Pudhu Street, Pudhukuppam, Cuddalore - 607001, Tamilnadu, India
Date of Appointment :	10.01.2011
PAN No.:	BNYPK9302F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2012

Names of Equity Shareholders	No. of Shares
K. Manoharan Nominee of Premier Energy and Infrastructure Limited	1
V. Kannan Nominee of Premier Energy and Infrastructure Limited	1
A. Nagarajan Nominee of Premier Energy and Infrastructure Limited	1
M. R. Rajagopal Nominee of Premier Energy and Infrastructure Limited	1
Vathsala Ranganathan Nominee of Premier Energy and Infrastructure Limited	1
M. Amjad Shariff Nominee of Premier Energy and Infrastructure Limited	1
Theta Management Consultancy Pvt Ltd	2615549
Premier Energy and Infrastructure Limited and its Nominees	13750000
Shriram EPC Limited	22239167
Shriram Auto Finance	7269569
GPE India Limited	100
GPE JV1 Limited	100
Gaja Trustee Company Private Limited	100
Total	45874591

Names of Preference Shareholders	No. of Shares
Gaja Trustee Company Private Limited	16561950
Total	16561950

Note:

Blackgold Chemicals Private Limited merged with Premier Energy and Infrastructure Limited pursuant to a Scheme of Amalgamation dated 30^th November 2011 as approved by the Honorable High Court of Madras and the shares held by Blackgold Chemicals Private Limited are now being held in the name of Premier Energy and Infrastructure Limited

As on 26.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	84.15
Other top fifty shareholders	15.85
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is an Integrated Merchant Met Coke Producer and also operates Captive Coking Coal Mines.

Products :

Item Code No. (ITC Code)	Product Description
27040090	Low Ash Metal
27011910	Coking Coal

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Corporation Bank,

Corporate Banking Branch, 38 & 39, Whites Road, Chennai - 600014, Tamil Nadu, India

Axis Bank Limited,

#192 Anna Salai, CMC, Karumuthu Nilayam, Chennai - 600002, Tamil Nadu, India

State Bank of India,

Overseas Branch, Kolkata, Samriddhi Bhavan, Block - A, 1, Strand Road, Kolkata - 700001, West Bengal, India

Facilities :

Secured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Rupee term loans from banks	811.049	1490.994
Total	811.049	1490.994

Banking Relations :	--
Auditors :
Name :	Sreedhar, Suresh and Rajagopalan Chartered Accountants
Address :	No.3b Green Haven, New No.26 Third Main Road, Gandhi Nagar, Adyar, Chennai – 600020, Tamilnadu, India
PAN No. :	AAAFK5620L
Subsidiaries :	· Ennore Coke Limited CIN No.: L65921TN1985PLC070358 Wellman Coke India Limited CIN No.: U23109WB2004PLC100467 Tiger American Minerals Inc., USA Iaeger Minerals Inc, USA
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Shriram EPC Limited CIN No.: L74210TN2000PLC045167 Shriram SEPL Composites Private Limited CIN No.: U25200TN2007PTC065726 Blackstone Group Technologies Private Limited CIN No.: U72200TN2000PTC044549 Leitwind Shriram Manufacturing Limited CIN No.: U31101TN2007PLC061993 Orient Green Power Company Limited CIN No.: L40108TN2006PLC061665 Chemproject Consulting Private Limited CIN No.: U74899DL1974PTC007533 Premier Energy and Infrastructure Limited CIN No.: L45201TN1988PLC015521 Theta Management Consultancy Private Limited CIN No.: U93000TN2010PTC074778 Emas Engineers and Contractors Private Limited CIN No.: U45201TN1995PTC032770 Hamon Shriram Cottrell Private Limited CIN No.: U29222MH1971PTC015045 Shriram Auto Finance Shriram Auto Finance LLP

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
55000000	Equity Shares	Rs.10/- each	Rs. 550.000 Millions
130000000	Preference Shares	Rs.10/- each	Rs. 1300.000 millions
	Total		Rs. 1850.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
45874591	Equity Shares	Rs.10/- each	Rs. 458.746 Millions
124998800	Preference Shares	Rs.10/- each	Rs. 1249.988 Millions
	Total		Rs. 1708.734 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1708.734	1708.734
(b) Reserves & Surplus	582.903	581.415
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	2291.637	2290.149
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.033	0.010
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	21.787	0.000
Total Non-current Liabilities (3)	21.820	0.010
(4) Current Liabilities
(a) Short term borrowings	988.602	1490.994
(b) Trade payables	3778.073	706.781
(c) Other current liabilities	5.472	8.684
(d) Short-term provisions	0.742	21.787
Total Current Liabilities (4)	4772.889	2228.246
TOTAL	7086.346	4518.405
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.658	0.148
(ii) Intangible Assets	0.007	0.011
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	942.121	942.121
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	21.181	5.387
Total Non-Current Assets	963.967	947.667
(2) Current assets
(a) Current investments	0.000	75.000
(b) Inventories	350.691	151.875
(c) Trade receivables	2966.186	1201.194
(d) Cash and cash equivalents	295.198	283.810
(e) Short-term loans and advances	2467.300	1838.574
(f) Other current assets	43.004	20.285
Total Current Assets	6122.379	3570.738
TOTAL	7086.346	4518.405

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		86.155
2] Share Application Money		0.000
3] Reserves & Surplus		60.000
4] (Accumulated Losses)		0.000
NETWORTH		146.155
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		219.197
TOTAL BORROWING		219.197
DEFERRED TAX LIABILITIES		0.000
TOTAL		365.352
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.025
Capital work-in-progress		0.000
INVESTMENT		25.253
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	120.125
	Other Current Assets	0.000
	Loans & Advances	192.853
Total Current Assets		312.978
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.696
	Other Current Liabilities	2.118
	Provisions	0.000
Total Current Liabilities		3.814
Net Current Assets		309.164
MISCELLANEOUS EXPENSES		30.910
TOTAL		365.352

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL		5984.008	1316.177
Less	EXPENSES
		TOTAL		5981.916	1282.806
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			2.092	33.371
Less/ Add	DEPRECIATION/ AMORTISATION			0.060	0.016
	PROFIT/ (LOSS) BEFORE TAX			2.032	33.355
Less	TAX			0.399	21.692
	PROFIT/ (LOSS) AFTER TAX			1.633	11.663
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			11.558	0.000
Less	APPROPRIATIONS
		Preference Dividend		0.125	0.090
		Dividend Tax		0.020	0.015
	BALANCE CARRIED TO THE B/S			13.046	11.558
	EARNINGS IN FOREIGN CURRENCY			174.249	161.216
	Earnings / (Loss) Per Share (Rs.)			0.01	0.07

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.03	0.89	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.03	0.93	NA
Return on Investment (ROI) (PBT/Networth)		0.00	0.01	NA
Debt Equity Ratio (Total Debt/Networth)		0.43	0.65	1.50
Current Ratio (Current Asset/Current Liability)		1.28	1.60	82.06

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	No
20]	Export / Import details (if applicable)	No
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

NOTE

The registered office of the company has been shifted from 25, Flowers Road, 3^rd Floor, Egmore Benefit Society Building, Kilpauk, Chennai – 600084, Tamilnadu, India to the present address w.e.f. 01.01.2013

COMPANY OVERVIEW

Subject (‘the Company’) is an integrated merchant met coke producer and also operates captive coking coal mines in USA through its subsidiaries.

The following are the subsidiaries:

1. Ennore Coke Limited – 60.86%

2. Wellman Coke (India) Limited – 100%

3. Tiger American Minerals, Inc USA – 100%

4. Iaeger Minerals, Inc USA – 100%

OPERATIONS

The Company commenced operations during the year. Sales and other income for the year was Rs. 59840.07 lacs and the Profit before tax was Rs. 2.031 millions. Provision for tax was Rs. 0.377 million. Profit after tax was Rs. 1.632 millions.

REVIEW OF PERFORMANCE

The Company is currently the controlling entity for the group’s metallurgical coke and coal business. It is the apex body and it has all the other coal and coking company as detailed in the chart below:

HCCL has investments in the following companies:

(a) 100% in Iaeger Minerals Inc (IMI), USA

(b) 100% in Tiger American Minerals Inc (TAMI), USA

(c) 100% in Wellman Coke India Limited (WCIL)

(d) 60.86% in Ennore Coke Limited (ECL)

BUSINESS PROSPECTS:

Business Model:

The Company is mainly engaged in trading in coking coal in the domestic market. The Company will be importing coking coal from its wholly owned subsidiary Companies ie. IMI and TAMI and will be supplying the same to Ennore Coke Limited and other customers in the local market. As IMI and TAMI hold beneficial stakes in mining companies in the USA, the landed cost for HCCL would be relatively cheaper in case of imports from its wholly owned subsidiaries than with respect to procuring from other suppliers in the international markets. With firm linkages with its subsidiaries, the company can thus leverage on this for enhancing its margins.

Apart from sourcing coking coal from IMI/TAMI, the company will also procure from other international vendors. The company will position itself as the mode for backward integration for the Coal requirements for all the Coke manufacturing companys under its umberlla

UNSECURED LOANS

Particulars	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
Loans and advances from related parties	152.414	0.000
Other loans and advances	25.139	0.000
Total	177.553	0.000

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U15541TN2004PTC054260
Name of the company	HALDIA COKE AND CHEMICALS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Sigappi Achi Building, 1^st Floor, 18/3 Rukmini Lakshmipathi Road, Egmore, Chennai – 600008, Tamilnadu, India E-mail: seclcoke@ennorecoke.com
This form is for	Creation of charge
Type of charge	Floating charge
Particular of charge holder	State Bank of India, Overseas Branch, Kolkata, Samriddhi Bhavan, Block - A, 1, Strand Road, Kolkata - 700001, West Bengal, India E-mail: sbiobcal@cal3.vsnl.net.in
Nature of instrument creating charge	Supplemental Deed of Guarantee for Increase in Overall Limit
Date of instrument Creating the charge	29.03.2013
Amount secured by the charge	Rs. 860.500 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per the terms of sanction of the Bank and agree/accepted by Ennore Coke Limited (Borrower). Terms of Repayment As per the terms of sanction of the Bank and agree/accepted by Ennore Coke Limited (Borrower). Margin As per the terms of sanction of the Bank and agree/accepted by Ennore Coke Limited (Borrower). Extent and Operation of the charge The charge operates as floating charge basis on various assets which are taken into consideration for arriving at the net worth of the Company. The Company has not created charge on any specific assets, however the floating charge so created to be fixed/crystalised as per the terms of sanction of the Lenders/Bank and agreed/accepted by the Borrower and/Corporate Guarantor. Others The Guarantor shall not do or allow anything which may prejudice the security and shall comply with the terms and conditions of the Agreements. The Company stands as a Corporate Guarantor for securing the overall limit granted or to be granted by the Bank (the charge holder) to M/s. Ennore Coke Limited (Borrower) together with interest, costs and charges thereon.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Assets which are to be taken into consideration for arriving at the net worth of the Company.

FIXED ASSETS

v Tangible Assets

Vehicles

Office Equipment

Computer Equipments

Other Equipments

v Intangible Assets

Computer Software

PRESS RELEASE

HALDIA COKE FLOATS US ARM

Chennai  October 1, 2010

company, has floated ‘Shriram Mineral Inc’ to acquire coal mines in the United States.

The new company has already acquired two coal mines for $23 million (Rs1058.000 millions) and is planning to invest another $25 million (around Rs 1150.000 millions) to acquire more mines, said Ennore Coke Limited’s wholetime director and chief executive officer Ganesh Natarajan on the sidelines of the annual general meeting.

Haldia Coke and Chemicals Private Limited is the holding company of Ennore Coke Limited.

While one mine was acquired at Arkansas, the other was at West Virgina. Haldia holds 65 per cent in the new company and the local operating partner the remaining 35 per cent, said Natarajan.

During the current year, the company expects 120,000 tonnes of coals from these two mines and 400,000 tonnes every year thereafter. The total reserve in these two mines is be around 23 million tonnes.

He said the new acquisitions would be mainly to meet the raw material requirements of subsidiary companies, which are into metallurgical coke manufacturing.

Haldia Coke owns an 80,000 tonne per annum capacity met coke plant at Nergundi in Orissa through its wholly-owned subsidiary Wellman Coke Limited.

In addition, it holds a 60.86 per cent stake in Ennore Coke Limited, which owns a 130,000 tonne per annum capacity met coke plant and a byproduct power plant at Haldia in West Bengal. Both the subsidiaries are in the process of increasing their capacities.

As of March 2010, Ennore Coke had a capacity of around 400,000 tonnes, including contract. This is expected to increase to a million tonne by next year. “The proposed capacity addition will not require any investment, since it will be through increasing the number of contract manufacturers,” said Natarajan.

On the other hand, Wellman Coke Limited is planning to double its capacity to 160,000 tonnes and set up a 10 Megawatt co-generation power plant. The project will require Rs 70-75 crore, to be funded from the Rs 1250.000-millions infused by Gaja Capital Partners, an India-focused private equity fund.

Natarajan said they might also look at reverse merger of Haldia Coke with Ennore Coke or go for an initial public offering.

On Ennore Coke’s performance, he said, the company is targeting to achieve a turnover of Rs 5000.000 millions during the current fiscal and Rs 10000.000 millions by next year. Its turnover grew over three-fold at Rs 3889.500 million in 2009-10, as compared with Rs 1010.600 millions a year ago.

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.59.71
UK Pound	1	Rs.90.59
Euro	1	Rs.78.22

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		33

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

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