MIRA INFORM REPORT

Report Date :

26.11.2014

IDENTIFICATION DETAILS

Name :	SKS ISPAT AND POWER LIMITED (w.e.f. 29.12.2006)
Formerly Known As :	SKS ISPAT LIMITED (w.e.f. 11.01.2005) SKS ISPAT PRIVATE LIMITED
Registered Office :	501B, Elegant Business Park, Andheri Kurla Road, J. B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.04.2000
Com. Reg. No.:	11-125893
Capital Investment / Paid-up Capital :	Rs.545.268 Millions
CIN No.: [Company Identification No.]	U27100MH2000PLC125893
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMS28171D
PAN No.: [Permanent Account No.]	AAECS3299N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of trading and manufacturing of Sponge Iron, Billets, Rolled Products, Ferro alloys and generation of Power.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 12300000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is an established company having satisfactory track record. There seems a growth in turnover but there appears low profitability recorded by the company. However, overall financial appears to be decent. Trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings at usual 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities BBB- (Suspended)
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	July 15, 2013

NOTE: Reason for Suspended: Not furnished information required by CARE.

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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Pawan Kumar
Designation :	AGM – Finance
Contact No.:	91-22-30807000
Date :	22.11.2014

LOCATIONS

Registered Office / Corporate Office :	501B, Elegant Business Park, Andheri Kurla Road, J. B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-30807063 / 30807000
Fax No.:	91-22-30807070 / 80
E-Mail :	corporateoffice@sksispat.com poravina@sksispat.com
Website :	http://www.sksispat.com
Location :	Owned
Factory 1 :	Phase-II, Industrial Growth Centre, Village Siltara, 18^th Mile Stone, Bilaspur –Raipur Road, Raipur - 493111, Chattisgarh, India
Tel. No.:	91-7721-264380
Fax No.:	91-7721-264378 / 77
E-Mail :	works@sksispat.com
Branch Office :	Located at · Chhattisgrah · Gujarat · New Delhi · Jharkhand

DIRECTORS

As on 30.09.2013

Name :

Mr. Anil Mahabir Gupta

Designation :

Managing Director

Address :

4^th Floor, Nirmal Pranbhu, Road No.7, J.V.P.D. Scheme, Vile Parle (West), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

23.11.1968

Qualification :

B. Com

Date of Appointment :

01.02.2013

PAN No.:

ADKPG6798G

DIN No.:

00046213

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	U27100MH2000PLC125893	SKS ISPAT AND POWER LIMITED	Managing director	01/02/13	17/04/00	-	Active	NO
2	U63010WB1994PTC066953	Radha Krishna Roadways Private Limited	Managing director	12/04/04	12/04/04	01/04/08	Active	NO
3	U45202MH2007PTC173666	INDO EMIRATES BUILDING SYSTEMS PRIVATE LIMITED	Additional director	15/02/08	15/02/08	03/10/08	Strike off	NO
4	U27109WB2005PTC103275	INDO EMIRATES BUILDING SOLUTIONS PRIVATE LIMITED	Director	29/09/10	15/02/08	-	Active	NO
5	U40102MH2008PLC179495	SKS POWER GENERATION LIMITED	Director	27/02/08	27/02/08	-	Strike off	NO
6	U40103MH2008PLC180231	SKS POWER GENERATION (CHHATTISGARH) LIMITED	Director	18/03/08	18/03/08	-	Active	NO
7	U40101MH2008PLC180742	SKS POWER TRADING LIMITED	Director	02/04/08	02/04/08	-	Strike off	NO
8	U26940MH2008PLC180732	SKS CEMENTS LIMITED	Director	02/04/08	02/04/08	-	Active	NO
9	U40101MH2008PLC180730	SKS POWER GENERATION (JHARKHAND) LIMITED	Director	02/04/08	02/04/08	-	Strike off	NO
10	U40101MH2008PLC180729	SKS POWER GENERATION (MADHYA PRADESH) LIMITED	Director	02/04/08	02/04/08	-	Active	NO
11	U10100CT2008PTC020663	FATEHPUR COAL MINING COMPANY PRIVATE LIMITED	Nominee director	19/05/08	19/05/08	31/03/11	Active	NO
12	U27109CT2004PTC016489	GUPTA STEEL CORPORATION PRIVATE LIMITED	Director	28/09/10	20/01/10	-	Active	NO
13	U27101CT1995PTC009316	SHREE KRISHNA STRUCTURES PVT LTD	Director	28/09/10	20/01/10	-	Active	NO
14	U27109WB2005PTC103270	LAMBODAR ISPAT PRIVATE LIMITED	Director	29/09/10	15/03/10	-	Active	NO
15	U27109WB2005PTC103281	SKS MINERALS & MINING COMPANY PRIVATE LIMITED	Director	29/09/10	15/03/10	-	Active	NO
16	U27109WB2005PTC103269	PADMA ISPAT PRIVATE LIMITED	Director	29/09/10	15/03/10	-	Active	NO
17	U27109WB2005PTC103280	VIGHNESH STEELS PRIVATE LIMITED	Director	29/09/10	15/03/10	-	Active	NO
18	U40109MH2011PLC211947	SKS POWER HOLDINGS LIMITED	Director	06/01/11	06/01/11	-	Active	NO
19	U51109WB2006PTC108331	CITYWINGS AGENCIES PVT LTD	Director	01/03/11	01/03/11	-	Active	NO
20	U74999WB2011PTC166380	GLOBAL POLYFILMS PRIVATE LIMITED	Director	12/08/11	12/08/11	22/03/13	Active	NO

Name :

Mr. Deepak Gupta

Designation :

Managing Director

Address :

H No. B/1, College Ward, Taluka Raipur, District Raipur, Chhattisgarh, India

Date of Birth/Age :

09.01.1974

Qualification :

B. Com

Date of Appointment :

01.04.2013

PAN No.:

AAGPG0744H

DIN No.:

00645211

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	U27100MH2000PLC125893	SKS ISPAT AND POWER LIMITED	Managing director	01/04/13	01/08/04	-	Active	NO
2	U45200CT2007PTC020335	SHREE KRISHNA INFRATECH PRIVATE LIMITED	Director	02/08/07	02/08/07	09/04/08	Active	NO
3	U45202MH2007PTC173666	INDO EMIRATES BUILDING SYSTEMS PRIVATE LIMITED	Additional director	28/09/07	28/09/07	03/10/08	Strike off	NO
4	U40103MH2008PLC180231	SKS POWER GENERATION (CHHATTISGARH) LIMITED	Director	30/09/09	16/04/08	30/07/14	Active	NO
5	U10100CT2008PTC020663	FATEHPUR COAL MINING COMPANY PRIVATE LIMITED	Nominee director	19/05/08	19/05/08	-	Active	NO
6	U40101MH2008PLC180729	SKS POWER GENERATION (MADHYA PRADESH) LIMITED	Director	30/09/09	11/09/08	-	Active	NO
7	U26940MH2008PLC180732	SKS CEMENTS LIMITED	Director	30/09/09	11/09/08	-	Active	NO
8	U40101MH2008PLC180730	SKS POWER GENERATION (JHARKHAND) LIMITED	Director	30/09/09	11/09/08	-	Strike off	NO
9	U40102MH2008PLC179495	SKS POWER GENERATION LIMITED	Additional director	15/03/10	15/03/10	-	Strike off	NO
10	U40101MH2008PLC180742	SKS POWER TRADING LIMITED	Director	30/09/10	15/03/10	-	Strike off	NO
11	U40109MH2011PLC211947	SKS POWER HOLDINGS LIMITED	Director	06/01/11	06/01/11	-	Active	NO

Name :

Mr. SatpalSingh Kasturilal Arora

Designation :

Additional Director

Address :

403, Gangadham Apartment, 148, Giripet Nagpur – 440010, Maharashtra, India

Date of Birth/Age :

08.09.1968

Date of Appointment :

30.09.2014

DIN No.:

03391190

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	U13203MH2011PTC216859	KRISHAN MINERALS AND LOGISTIC PRIVATE LIMITED	Director	29/04/11	29/04/11	-	Active	NO
2	U27100MH2000PLC125893	SKS ISPAT AND POWER LIMITED	Director	30/09/14	28/05/13	-	Active	NO

Name :

Mr. Devidas Kashinath Kambale

Designation :

Director

Address :

D 2603, Wadala Height CHS, Sangam Nagar, Near Dosti Acres Complex, Wadala, Mumbai - 400037, Maharashtra, India

Date of Appointment :

30.09.2014

DIN No.:

00020656

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	L40300MH1977PLC019594	LLOYDS METALS AND ENERGY LIMITED	Director	30/07/14	31/03/03	-	Active	NO
2	L15421TG1995PLC020720	GAYATRI SUGARS LIMITED	Nominee director	17/08/05	17/08/05	18/03/09	Active	NO
3	L18209TG1985PLC005581	SANGHI INDUSTRIES LIMITED	Director	17/12/11	12/08/11	-	Active	NO
4	U27100MH2000PLC125893	SKS ISPAT AND POWER LIMITED	Director	30/09/14	29/10/13	-	Active	NO

Name :

Mr. Pankaj Kumar Jha

Designation :

Whole-time director

Address :

Flat No. 17/301, Ashoka Ratan, Vip Estate, Vidhan Sabha Road, Shankar Nagar, Near Ashoka Ratan, Raipur - 492001, Chhattisgarh, India

Date of Birth/Age :

02.01.1962

Date of Appointment :

05.03.2013

DIN No.:

06518501

KEY EXECUTIVES

Name :	Elroy Joachim Mendonca
Designation :	Secretary
Address :	502 Benliz, Dr. Peter Dias Road, Bandra (West), Mumbai - 400050, Maharashtra, India
Date of Birth/Age :	27.04.2013
Date of Appointment :	27.04.2013
PAN No.:	APCPD2577G
Name :	Mr. Pawan Kumar
Designation :	AGM – Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Anil Gupta	5086000
Deepak Gupta	14100
Indo Emirates Building Solutions Private Limited, India	1550000
Gupta Steel Corporation Private Limited, India	1153846
Lambodar Ispat Private Limited, India	1370000
SKS Minerals and Mining Company Private Limited, India	1351400
Sangeeta Gupta	12000
Shares in Demat form	41417622
Total	51954968

SHARES IN DEMAT FORM

List of Demat Shareholders	No. of Shares
Anil Gupta	4100
Citywings Agencies Private Limited, India	6611850
Deepak Gupta	4100
Gupta Steel Corporation Private Limited, India	2779900
Padma Ispat Private Limited, India	2307100
Sangeeta Gupta	4100
Shree Krishna Structure Private Limited, India	26964472
Vighnesh Steels Private Limited, India	2742000
Total	41417622

As on 13.02.2014

Name of Allottees	No. of Shares
Anil Gupta – Business	76000
Anil Gupta (HUF) through Karta, Mr. Anil Gupta – Business	79000
Deepak Gupta - HUF	107000
Citywings Agencies Private Limited, India	768000
Gupta Steel Corporation Private Limited, India	459112
Padma Ispat Private Limited, India	1072750
Shree Krishna Structure Private Limited, India	10000
Total	2571862

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	90.14
Directors or relatives of Directors	9.86
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of trading and manufacturing of Sponge Iron, Billets, Rolled Products, Ferro alloys and generation of Power.

Products :

Item Code No. (ITC Code)	Product Description
72251910	Rolled Products
27160000	Electrical Energy

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Not Divulged

Bankers :

· State Bank of India, Commercial Branch, 2nd Floor, Pujari Chambers, Pachpedi Naka, Raipur - 492001, Chhattisgarh, India

· Indusind Bank Limited, 2401 Gen Thimmayya Road, Contonment, Pune - 411001, Maharashtra, India

· Union Bank of India, S T Road, Branch Apeejay -Surendra Building, Aroda Street, S T Road, Mumbai - 400009, Maharashtra, India

· Bank of India, 92-93, Free Press House, 9th Floor, Free Press Journal Marg, 215, Nariman Point, Mumbai - 400021, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	6529.696	2759.632
Loans taken for vehicles	37.066	16.565
SHORT TERM BORROWINGS
Working capital loans from banks	1787.536	2698.972
Total	8354.298	5475.169

Auditors :
Name 1 :	S B Wakharkhar and Company Chartered Accountants
Address :	11, Shreyas, Veera Desai Road, Andheri (West), Mumbai – 400058, Maharashtra, India
PAN No.:	AAAPW6993N
Memberships :	--
Collaborators :	--
Associate :	v Shree Krishna Structures Private Limited v Gupta Steel Corporation Private Limited v Padma Ispat Private Limited
Subsidiary company :	v Shree Krishna Steels Global Pte. Limited v Sks Cements Limited v Sks Powe R Generation (Chhattisgarh) Limited v Sks Powe R Generation (Jharkhand) Limited v Sks Powe R Generation (Madhya Pradesh) Limited v Sks Power Holdings Limited v Sks Power Trading Limited v Fatehpur Coal Mining Company Private Limited
Joint venture :	v Surya Infraventure Private Limited
Ultimate Holding company :	v Citywings Agencies Private Limited
Others :	v Gupta Steel Corporation (Sole Proprietorship)

CAPITAL STRUCTURE

AFTER 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
52000000	Equity Shares	Rs.10/- each	Rs.520.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
51954968	Equity Shares	Rs.10/- each	Rs.519.550 Millions

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
54600000	Equity Shares	Rs.10/- each	Rs.546.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
54526830	Equity Shares	Rs.10/- each	Rs.545.268 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	545.268	519.550	465.703
(b) Reserves & Surplus	3763.109	4744.240	5607.823
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	150.000
Total Shareholders’ Funds (1) + (2)	4308.377	5263.790	6223.526
(3) Non-Current Liabilities
(a) long-term borrowings	6566.762	2776.197	3641.880
(b) Deferred tax liabilities (Net)	746.344	851.576	821.106
(c) Other long term liabilities	22.766	21.332	20.549
(d) long-term provisions	18.356	15.842	16.671
Total Non-current Liabilities (3)	7354.228	3664.947	4500.206
(4) Current Liabilities
(a) Short term borrowings	1787.536	2698.972	2415.663
(b) Trade payables	771.011	1693.684	1665.676
(c) Other current liabilities	715.774	2436.288	1581.657
(d) Short-term provisions	1.371	0.471	1.497
Total Current Liabilities (4)	3275.692	6829.415	5664.493
TOTAL	14938.297	15758.152	16388.225
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7667.886	6667.437	7055.459
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	30.736	1432.152	1149.955
(iv) Intangible assets under development	504.678	512.090	423.871
(b) Non-current Investments	1605.366	1615.364	1609.968
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	16.109	15.408	15.828
Total Non-Current Assets	9824.775	10242.451	10255.081
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2113.234	2604.329	3233.212
(c) Trade receivables	1607.929	1664.078	1576.246
(d) Cash and cash equivalents	322.521	280.262	389.916
(e) Short-term loans and advances	1058.075	959.672	930.158
(f) Other current assets	11.763	7.360	3.612
Total Current Assets	5113.522	5515.701	6133.144
TOTAL	14938.297	15758.152	16388.225

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	7915.572	13068.982	13880.070
		Other Income	49.665	94.241	58.968
		TOTAL	7965.237	13163.223	13939.038
Less	EXPENSES
		Cost of Materials Consumed	5594.660	5079.567	5063.228
		Purchases of Stock-in-Trade	738.997	6516.288	5729.351
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	410.672	541.786	206.009
		Employees benefits expense	224.382	143.066	135.625
		Other expenses	919.740	960.557	1093.178
		Exceptional items	0.000	0.000	251.776
		TOTAL	7888.451	13241.264	12479.167
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		76.786	(78.041)	1459.871
Less	FINANCIAL EXPENSES		937.920	975.122	986.666
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(861.134)	(1053.163)	473.205
Less/ Add	DEPRECIATION/ AMORTISATION		456.698	426.103	426.948
	PROFIT/ (LOSS) BEFORE TAX		(1317.832)	(1479.266)	46.257
Less	TAX		(105.232)	30.470	30.926
	PROFIT/ (LOSS) AFTER TAX		(1212.600)	(1509.736)	15.331
	Earnings / (Loss) Per Share (Rs.)		(23.19)	(31.26)	0.33

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(15.32)	(11.55)	0.11
Operating Profit Margin (PBDIT/ Sales)	(%)	0.97	(0.60)	10.52
Return on Total Assets (PBT/Total Assets}	(%)	(10.30)	(12.13)	0.35
Return on Investment (ROI) (PBT/Networth)		(0.31)	(0.28)	0.01
Debt Equity Ratio (Total Debt/Networth)		1.94	1.04	0.97
Current Ratio (Current Asset/Current Liability)		1.56	0.81	1.08

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	465.703	519.550	545.268
Reserves & Surplus	5607.823	4744.240	3763.109
Net worth	6073.526	5263.790	4308.377
long-term borrowings	3641.880	2776.197	6566.762
Short term borrowings	2415.663	2698.972	1787.536
Total borrowings	6057.543	5475.169	8354.298
Debt/Equity ratio	0.997	1.040	1.939

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Revenue from operations	13880.070	13068.982	7915.572
		(5.844)	(39.432)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Revenue from operations	13880.070	13068.982	7915.572
Profit	15.331	(1509.736)	(1212.600)
	0.11%	(11.55%)	(15.32%)

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	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	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	Yes
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

LITIGATION DETAILS

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Presentation Date:- 14.08.2014

Lodging No.:- SL/793/2014 Filing Date:- 14.08.2014 Reg. No.:- S/673/2014 Reg. Date:- 26.08.2014

Petitioner: STEEL AUTHORITY OF INDIA LIMITED Respondent: SKS ISPAT AND POWER LIMITED 2

ORS –

Petn. Adv : W S KANE AND COMPANY (I300) Resp. Adv. : M/s. MULLA AND MULLA AND CRAIGIE BLUNT AND CAR

District: MUMBAI

Bench: SINGLE

Status: Pre-Admission Category: SUIT (TRADE MARK)

Last Date: 11.03.2014 Stage: FOR FRAMING ISSUES

Last Coram: HON’BLE SHRI JUSTICE S.C. GUPTE

Act: Trade and Trade Merchandise Marks Act UNDER SECTION: 134

NOTE:

The registered address of the company has been shifted from 501/B, Elegant Business Park, MIDC Link Road, Near JB Nagar Off Andheri Kurla Road, Mumbai – 400059, Maharashtra, India to the present address w.e.f 06.05.2010

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10489208	21/03/2014	10,568,600,000.00	SBICAP TRUSTEE COMPANY LIMITED	SBICAP TRUSTEE COMPANY LIMITED, COLABA,, MUMBAI,  Maharashtra - 400005, INDIA	C03091212
2	10463133	30/10/2013	4,963,500,000.00	State Bank of India	Commercial Branch, 2nd Floor, Pujari Chambers, Pachpedi Naka, Raipur, Chhattisgarh - 492001, INDIA	B90703877
3	10439501	28/06/2013	720,000.00	INDUSIND BANK LTD.	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA	B80616857
4	10439502	28/06/2013	720,000.00	INDUSIND BANK LTD.	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA	B80617376
5	10439505	28/06/2013	720,000.00	INDUSIND BANK LTD.	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA	B80617855
6	10439500	12/06/2013	2,600,000.00	INDUSIND BANK LTD.	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA	B80616394
7	10439497	11/06/2013	1,500,000.00	INDUSIND BANK LTD.	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA	B80615263
8	10426606	08/04/2013	150,000,000.00	Indian Overseas Bank	Mid Corporate Branch, 5th Floor, E Wing, Maker Tower, Cuffe Parade, MUMBAI, Maharashtra - 400005,  INDIA	B75061341
9	10426494	29/03/2013	6,559,058.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA	B74931502
10	10400892	07/01/2013	960,000,000.00	State Bank of India	Commercial Branch, 2nd Floor, Pujari Chambers, Pachpedi Naka, Raipur, Chhattisgarh - 492001, INDIA	B67031898
11	10370110	02/08/2012	250,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	B45533536
12	10366086	24/07/2012 *	100,000,000.00	INDIAN OVERSEAS BANK	FLORA FOUNTAIN BRANCH, 51, MULLA HOUSE, HUTATMA C  HOWK, FORT, MUMBAI, Maharashtra - 400023, INDIA	B56436835
13	10345688	25/02/2012	190,000,000.00	State Bank of India	Commercial Branch, 2nd Floor, Pujari Chambers, P  achpedi Naka, Raipur, Chhattisgarh - 492001, INDIA	B36348217
14	10326674	09/12/2011	200,000,000.00	L & T FINANCE LIMITED	L&T HOUSE, BALLARD ESTATE, MUMBAI, Maharashtra  - 400001, INDIA	B29012432
15	10315655	12/10/2011	500,000,000.00	LANDT INFRASTRUCTURE FINANCE COMPANY LIMITED	MOUNT POONAMALLEE ROAD, MANAPAKKAM, CHENNAI, Tamil Nadu - 600089, INDIA	B24540312
16	10303893	29/08/2011	72,889,540.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA	B19480532
17	10301868	08/08/2011	250,000,000.00	DBS Bank Limited	5th Floor, Fort House, 221, Dr. D N Road, Mumbai, Maharashtra - 400001, INDIA	B18688788
18	10303579	15/07/2011	202,500,000.00	SREI Equipment Finance Private Limited	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, West Bengal - 700046, INDIA	B19322031
19	10299764	11/07/2011	40,000,000.00	INDIAN OVERSEAS BANK	FLORA FOUNTAIN BRANCH, 51, GROUND FLOOR, MULLA HO  USE, HUTATMA CHOWK, FORT, MUMBAI, Maharashtra - 400023, INDIA	B17910563
20	10261565	22/12/2010	250,000,000.00	State Bank of India	Commercial Branch, 2nd Floor, Pujari Chambers, Pachpedi Naka, Raipur, Chhattisgarh - 492001, INDIA	B03536554
21	10419223	21/12/2010	196,630,000.00	State Bank of India	Commercial Branch, Second Floor, Poojari Chambers, Pachpedi Naka, Raipur, Chhattisgarh - 492001,  INDIA	B56965056
22	10232701	11/06/2010	1,800,000,000.00	STATE BANK OF INDIA	Commercial Branch, Zonal Office Building, 2nd Floor, Ravi Bhavan, Raipur, Chhattisgarh - 492001, INDIA	A90998436
23	10298600	30/03/2010	900,000,000.00	STATE BANK OF INDIA	Commercial Branch, Zonal Office Building, 2nd Floor, Ravi Bhavan, Raipur, Chhattisgarh - 492001, INDIA	A85959385
24	10212298	15/02/2010	160,000,000.00	STATE BANK OF INDIA	Commercial Branch, Zonal Office Building, 2nd Floor, Ravi Bhavan, Raipur, Chhattisgarh - 492001, INDIA	A82969551
25	10165330	25/08/2011 *	300,000,000.00	State Bank of India	Commercial Branch, 2nd Floor, Poojari Chambers, Pachpedi Naka, Raipur, Chhattisgarh - 492001, INDIA	B22968010
26	10133012	05/11/2008	1,768,400,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, RAIPUR, Chhattisgarh - 492001,  INDIA	A51589034
27	10046792	05/12/2008 *	150,000,000.00	STATE BANK OF TRAVANCORE	112-115 TULSIANI CHAMBERS, 215 NARIMAN POINT, MU  MBAI, Maharashtra - 400021, INDIA	A53488144
28	10028049	07/11/2006	250,000,000.00	THE JAMMU & KASHMIR BANK LIMITED	79A MEHTA HOUSE, BOMBAY SAMACHAR MARG, FORT, MUMBAI, Maharashtra - 400023, INDIA	A07355209
29	80008819	12/10/2012 *	4,173,200,000.00	State Bank of India	COMMERCIAL BRANCH, 2ND FLOOR, PUJARI CHAMBERS, PACHPEDI NAKA, RAIPUR, Chhattisgarh - 492001, INDIA	B60849858
30	80013412	04/12/2013 *	200,000,000.00	Bank of India	92-93, Free Press House, 9th Floor, Free Press Journal Marg, 215, Nariman Point, Mumbai, Maharashtra - 400021, INDIA	B93010452
31	80013410	18/12/2007 *	998,500,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, BYRON BAZAR , RAIPUR, Chhattisgarh - 492001, INDIA	A40146623
32	80008818	23/07/2010 *	6,578,400,000.00	STATE BANK OF INDIA	Commercial Branch,, Zonal Office Building, 2nd Floor, Ravi Bhavan, Raipur, Chhattisgarh - 492001, INDIA	A94014644
33	80013413	29/09/2006 *	150,000,000.00	BHARAT OVERSEAS BANK LIMITED	FORT BRANCH,MULLA HOUSE, FOUNTAIN, MUMBAI, Maharashtra - 400023, INDIA	-
34	80013407	21/01/2014 *	300,000,000.00	UNION BANK OF INDIA	S T ROAD BRANCH APEEJAY -SURENDRA BUILDING, 24 BA  RODA STREET,S T ROAD, MUMBAI, Maharashtra - 400009, INDIA	B95652376
35	80013409	16/03/2005	250,000,000.00	State Bank of Indore	Commercial Branch , Mittal Court, B wing , Ground Floor, Nariman Point, Mumbai, Maharashtra - 400021, INDIA	-

* Date of charge modification

GENERAL INFORMATION

The Company is a company incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of trading & manufacturing of Sponge Iron, Billets, Rolled Products, Ferro alloys and generation of Power.

FIXED ASSETS

œ Land

œ Buildings

œ Plant and Equipment

œ Furniture and Fixtures

œ Vehicles

œ Office Equipment

œ Computer Equipment’s

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.61.92
UK Pound	1	Rs.97.12
Euro	1	Rs.76.93

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		32

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.