MIRA INFORM REPORT

Report Date :

13.03.2014

IDENTIFICATION DETAILS

Name :	GEOMIN INDUSTRIES PRIVATE LIMITED
Registered Office :	270, Garaha Phatak, Jabalpur-482002, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.07.2010
Com. Reg. No.:	10-023927
Capital Investment / Paid-up Capital :	Rs. 10.000 Millions
CIN No.: [Company Identification No.]	U13100MP2010PTC023927
TAN No.: [Tax Deduction & Collection Account No.]	JBPG03050F
PAN No.: [Permanent Account No.]	AADCG8749E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of Iron ore, pellets and sponge like Calibrated Iron Ore, Iron Ore Fines
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 47000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The management has failed to file its financial with government department for the year 2012 and 13. As per previous financial of 2011, reserves of the company seem to be low. However, trade relations are fair. Business is active. Payment terms are unknown. The company can be considered for business dealing 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 – December 1, 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

State-run banks hired nearly 300000 personnel including more than 94000 officers in the last four years, according to the Indian Banks Association. A study by trade lobby Assocham in September 2013 indicated that banks would need 800000 people in the next six years. It estimated that state-run lenders alone would hire 50000 people in 2013/14.

The Competition Commission of India plans to issue final orders within a broad time-frame of one year in matters where it decides to carry out detailed investigations. The number of complaints received by the watchdog which keeps tabs on unfair trade practices in the marketplace.

The government has detected custom tax evasion totaling around Rs 37920 mn in 14 states until December. Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.

Connaught Place in New Delhi slipped four notches to become the world’s eighth most expensive office locations. London’s West End is the world’s most expensive office market.

There are 4.072 mn number of high value spenders under the scanner of the income tax department. The income tax department has information that they have made cash deposits announcing to Rs 1 mn or more in their savings bank accounts in the current financial year. It plans to check potential evasion before the closing of the financial year on March 31.

Estimated pharmaceutical sales in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago. The life sciences and health care industry is up against challenges such as quality management, says a recent Deloitte report.

The gross non-performing assets of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months of the financial year. In absolute terms, the 40 listed banks added Rs 3386 crore to their gross NPAs in nine months with the State Bank of India leading with the State Bank of India leading with an accretion of Rs 16610 crore.

The inflow of smuggled gold doubled in 2013 following restrictions to curb the supply from official channels to contain the current account deficit. China surpassed India in the demand for gold for the first time in 2013 due to liberalization of gold trading norms by its local governments.

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. Sandeep
Designation :	Accountant
Contact No.:	91-8889995608
Date :	12.03.2014

LOCATIONS

Registered Office :	270, Garaha Phatak, Jabalpur-482002, Madhya Pradesh, India
Tel. No.:	91-761-4071235
Mobile No.:	91-8889995608 (Mr. Sandeep)
Fax No.:	Not Available
E-Mail :	hr@geomin.in
Website :	www.geomin.in
Corporate Office :	E-12, Garden Villa, Kachnar City, Vijay Nagar, Jabalpur-482002, Madhya Pradesh, India
Tel. No.:	91-761-4071235
Fax No.:	91-761-4071235
Factory :	Village-Dharampura, Tehsil Sihora, District Jabalpur-483225, Madhya Pradesh, India

/DIRECTORS

AS ON 30.09.2011

Name :	Mr. Shailesh Kumar Agarwal
Designation :	Director
Address :	Plot No 21, 1st Cross, Hospet-583201, Karnataka, India
Date of Birth/Age :	05.03.1979
Date of Appointment :	29.07.2010
DIN No.:	00908552

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	U26914GJ2006PTC049513	S D MINERALS PRIVATE LIMITED	Director	01/12/2006	01/12/2006	-	Active	NO
2	U26960GJ2007PTC051131	SHRI JAI BABA MINERALS PRIVATE LIMITED	Director	18/06/2007	18/06/2007	-	Active	NO
3	U27300GJ2008PTC055245	SHREE LAXMIHARI ISPAT PRIVATE LIMITED	Director	15/10/2008	15/10/2008	16/04/2011	Active	NO
4	U13100MP2010PTC023927	GEOMIN INDUSTRIES PRIVATE LIMITED	Director	29/07/2010	29/07/2010	-	Active	NO

Name :	Mr. Sudhanshu Deva
Designation :	Director
Address :	A-2, Ebony, Tatasherwood, Basavanagar Marathahalli, Bangalore-560037, Karnataka, India
Date of Birth/Age :	02.02.1967
Date of Appointment :	16.07.2010
DIN No.:	02288483

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	U13100KA2007PLC044754	GREENTEX MINING INDUSTRIES LIMITED	Whole-time director	18/01/2009	18/01/2009	-	Active	NO
2	U27100KA2010PTC052574	GREENTEX STEEL INDUSTRIES PRIVATE LIMITED	Director	17/02/2010	17/02/2010	20/06/2012	Active	NO
3	U14105KA2010PTC054409	GREENTEX KALYAAN STEEL AND POWER PRIVATE LIMITED	Director	09/07/2010	09/07/2010	-	Active	NO
4	U13100MP2010PTC023927	GEOMIN INDUSTRIES PRIVATE LIMITED	Director	16/07/2010	16/07/2010	-	Active	NO
5	U13100MP2013PTC030812	JAGATI MINING COMPANY PRIVATE LIMITED	Director	23/05/2013	23/05/2013	-	Active	NO

Name :	Mr. Vinod Kumar Shrivastava
Designation :	Director
Address :	H.No.86 Gandhigram, Sihora, Jabalpur-483222, Madhya Pradesh, India
Date of Birth/Age :	01.05.1970
Date of Appointment :	09.10.2010
DIN No.:	02205372

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	U27101MP2008PTC020514	SUN FERRO ALLOYS PRIVATE LIMITED	Director	04/06/2008	04/06/2008	13/08/2008	Active	NO
2	U10100MP2008PTC020893	MERCURY MINES AND MINERALS PRIVATE LIMITED	Director	08/07/2008	08/07/2008	-	Active	NO
3	U45200MP2008PTC021297	S.R.S. INFRA PROJECTS PRIVATE LIMITED.	Director	06/11/2008	06/11/2008	06/11/2008	Active	NO
4	U13100MP2008PTC021381	CRUSHWELL MINERALS PRIVATE LIMITED	Director	30/09/2010	20/04/2010	-	Active	NO
5	U13100MP2010PTC023927	GEOMIN INDUSTRIES PRIVATE LIMITED	Director	09/10/2010	09/10/2010	-	Active	NO

Name :	Mr. Ajay Kumar Agarwal
Designation :	Director
Address :	105, 1Garha Pathak, Jabalpur-482001, Madhya Pradesh, India
Date of Birth/Age :	01.07.1950
Date of Appointment :	16.07.2010
Date of Cessation :	15.10.2011
DIN No.:	02598483
Name :	Mr. Vineet Jain
Designation :	Director
Address :	81 V.N. Marg, Allahabad-211003, Uttar Pradesh, India
Date of Birth/Age :	24.11.1959
Date of Appointment :	16.07.2010
Date of Cessation :	15.10.2011
DIN No.:	03116379

KEY EXECUTIVES

Name :	Mr. Sandeep
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Name of Shareholders	No. of Shares	%age
Sudhanshu Deva	890,000	89.00
Ajay Agarwal	100000	10.00
Vineet Jain	10000	1.00
Total	1,000,000	100.00

AS ON 30.09.2011

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of Iron ore, pellets and sponge like Calibrated Iron Ore, Iron Ore Fines
Imports :
Products :	Raw Material
Countries :	· China · Europe
Terms :
Selling :	L/C, Cash, Credit (Depend)
Purchasing :	L/C, Cash, Credit (Depend)

GENERAL INFORMATION

Suppliers :

· Agrawal Bandu Automobiles

· Gammco Limited

· Hathiawala Sales and Services

· Idea Cellular Limited

· Alpine Minmentals India Private Limited

· Modh. Faisal

· Sharedge Weighing System

· Standard Electricals

· Supriti Traders

· Vishwakarma Welding

· Gupta Associates

· Pacific Exports

· Pragati Transport Company

· Raj Minerals

· Shobha Minerals

Customers :

· Wholesalers

· Retailers

· End Users

No. of Employees :

20 (Approximately)

Bankers :

· Axis bank Limited, Ground and 1^st Floor, Panchratna Building, Plot No.902, Model Road, Wright Town, Jabalpur-482002, Madhya Pradesh, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011
L&T Finance Limited (Secured Against Hypothecation of Plant and Machinery of Company )	9.725
Magma Fincorp Limited (Secured Against Hypothecation of Yeti)	1.274
TOTAL	10.999

Banking Relations :	--
Financial Institution :	· L and T Finance Limited, L and T House, Ballard Estate, Mumbai-400001, Maharashtra, India · Tata Capital Financial Services Limited, One Forbes, Dr. V B Gandhi Marg, Fort, Mumbai-400001, Maharashtra, India
Auditors :
Name :	Gupta Associates Chartered Accountant
Address :	302 Anand Talkes Complex, 4^th Bridge Road, Napier Town, Jabalpur-482001, Madhya Pradesh, India
PAN No.:	AADFG7989F

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 12.655 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		10.000
2] Share Application Money		0.000
3] Reserves & Surplus		1.895
4] (Accumulated Losses)		0.000
NETWORTH		11.895
LOAN FUNDS
1] Secured Loans		10.999
2] Unsecured Loans		15.291
TOTAL BORROWING		26.290
DEFERRED TAX LIABILITIES		0.241
TOTAL		38.426
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		27.919
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	29.457
	Sundry Debtors	7.849
	Cash & Bank Balances	2.069
	Other Current Assets	0.072
	Loans & Advances	0.000
Total Current Assets		39.447
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	27.743
	Other Current Liabilities	0.000
	Provisions	1.436
Total Current Liabilities		29.179
Net Current Assets		10.268
MISCELLANEOUS EXPENSES		0.239
TOTAL		38.426

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2011
	SALES
		Income		34.251
		Other Income
		TOTAL		34.251
Less	EXPENSES
		Cost of Material Consumed		31.366
		Purchase of Stock In Trade
		Employee benefits expenses
		TOTAL		31.366
	PROFIT / (LOSS) BEFORE TAX			2.885
Less	TAX			0.991
	PROFIT / (LOSS) AFTER TAX			1.894
	Earnings / (Loss) Per Share (Rs.)			1.89

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	5.53
Return on Total Assets (PBT/Total Assets}	(%)	4.28
Return on Investment (ROI) (PBT/Networth)		0.24
Debt Equity Ratio (Total Debt /Networth)		2.21
Current Ratio (Current Asset/Current Liability)		1.35

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011
	(INR in Mlns.)
Share Capital	10.000
Reserves & Surplus	1.895
Net worth	11.895
Secured Loan	10.999
Unsecured Loan	15.291
Total borrowings	26.290
Debt/Equity ratio	2.210

YEAR ON YEAR GROWTH

Year on Year Growth	31.03.2011
	(INR in Mlns)
Total Income	34.251

NET PROFIT MARGIN

Net Profit Margin	31.03.2011
	(INR in Mlns)
Total Income	34.251
Profit	1.894
	5.53%

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 one years	Yes
12]	Profitability for last one 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	No
17]	Major suppliers	Yes
18]	Major customers	No
19]	Payments terms	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Unsecured Loan	Rs. In Millions 31.03.2011
FROM DIRECTORS
Sudhanshu Deva	3.860
Vinood Kumar Shrivastva	4.039
Green Logistics (Prop. Sudhanshu Deva)	2.656
FROM OTHERS
Raj Logistics	0.522
Shri Jaibaba Minerals Private Limited	4.214
TOTAL	4.736

INDEX OF CHARGES

S. No	Charge ID	Date of Charge Creation /Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN
1	10443649	01/08/2013	20,500,000.00	L AND T FINANCE LIMITED	L and T House,, Ballard Estate,, Mumbai, Maharashtra  - 400001, India	B82403387
2	10432394	27/05/2013	1,845,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai,  Maharashtra - 400001, India	B77646362
3	10426486	22/03/2013	11,800,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai,  Maharashtra - 400001, India	B75400481
4	10385020	07/10/2013 *	85,000,000.00	AXIS BANK LIMITED	Ground and 1st Floor, Panchratna Building, Plot No. 902, Model Road, Wright Town, Jabalpur, Madhya Pradesh - 482002, India	B89242473
5	10292992	15/05/2011	8,840,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'Vishwakarma', 86c, Topsia Road,, Kolkata, West Bengal - 700046, India	B15281306
* Date of charge modification

OPERATION

The company was incorporated on 19th day of July 2010. This was the First year and the Company has started commercial operation in this Year. This Year Company has earned a profit of Rs 2.885 Millions against a turnover of Rs 34.251 Millions

FIXED ASSETS

· Air conditioner

· Borewell

· Computer

· Furniture and Fixture

· Gyzer

· Lab Equipment

· Land

· Plant and Machinery

· Tvs Starcity

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 records 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. 61.09
UK Pound	1	Rs. 101.59
Euro	1	Rs. 84.65

INFORMATION DETAILS

Information Gathered by :	PRT
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.