MIRA INFORM REPORT

Report Date :

23.09.2014

IDENTIFICATION DETAILS

Name :	SAIKRUTHI MINMET (INDIA) PRIVATE LIMITED
Registered Office :	D.No. 31-33-115/1/2, Darshan Paradise, Opposite Mamatha Press Assam Gardens, Visakhapatnam – 530016, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	12.09.2012
Com. Reg. No.:	01-083036
Capital Investment / Paid-up Capital :	Rs. 10.000 Millions
Legal Form :	Private Limited Liability Company
Line of Business :	To carry the business to produce, develop, distribute, derive, discover, excavate, dig, blast, grade, prepare, promote, supply, import, export, Buy, sell, act as agent, broker and all types of minerals, their concentrates, compounds, products, by-products, derivatives, mixtures, ingredients and residues, available on the planet earth.
No. of Employees :	Information declined by the management

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 41000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is relatively new company having moderate track record. Mr. Rajesh (Account Manager) has denied to disclose any information to us. Profitability of the company seems to be low during 2013. However, trade relations is fair. Business is active. Payment terms are reported to be 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 – 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.

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 DECLINED BY

Name :	Mr. Rajesh
Designation :	Account Manager
Contact No.:	91-891-6621270
Date :	23.09.2014

LOCATIONS

Registered Office :	D.No. 31-33-115/1/2, Darshan Paradise, Opposite Mamatha Press Assam Gardens, Visakhapatnam – 530016, Andhra Pradesh, India
Tel. No.:	91- 891-6621270/6644418
Fax No.:	91- 891-6644417/6644418
E-Mail :	sales@saikruthiminmet.com grajeshu@gmail.com

DIRECTORS

As on 30.09.2013

Name :

Mr. Grandhi Rajesh

Designation :

Managing director

Address :

Flat No. 201, Satjana Residency, Assam Gardens, Visakhapatnam – 530004, Andhra Pradesh, India

Date of Birth/Age :

02.08.1976

Date of Appointment :

14.03.2013

DIN No.:

02506310

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	U74990AP2009PTC063659	INTEGRAL CONTAINER FREIGHT STATION PRIVATE LIMITED	Director	13/05/2009	13/05/2009	-	Active	NO
2	U61200AP2012PTC081606	VPL INTEGRAL CFS PRIVATE LIMITED	Director	22/06/2012	22/06/2012	-	Active	NO
3	U63000AP2010PTC067622	INTEGRAL TRADING AND LOGISTICS INDIA PRIVATE LIMITED	Director	29/09/2012	25/08/2012	-	Active	NO
4	U74900AP2012PTC083036	SAIKRUTHI MINMET (INDIA) PRIVATE LIMITED	Managing director	14/03/2014	12/09/2012	-	Active	NO
5	U13201AP2014PTC095227	TGS MINMET PRIVATE LIMITED	Director	04/09/2014	04/09/2014	-	Active	NO

Name :

Mr. Kolli Rajesh

Designation :

Director

Address :

H No. 81, KHB Colony, Near Opd Nethaji Nagar Cantonment, Bellary, Karnataka - 583104, India

Date of Birth/Age :

15.04.1978

Date of Appointment :

12.09.2012

DIN No.:

03507629

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	U27310AP2012PLC078430	ABHINAV STEELS INDIA LIMITED	Director	05/01/2012	05/01/2012	-	Active	NO
2	U14200TG2012PTC081737	MADHAV FERRO INDUSTRIES PRIVATE LIMITED	Director	03/07/2012	03/07/2012	-	Active	NO
3	U45400TG2012PTC082838	VIBHUH INFRACON INDIA PRIVATE LIMITED	Director	04/09/2012	04/09/2012	-	Active	NO
4	U74900AP2012PTC083036	SAIKRUTHI MINMET (INDIA) PRIVATE LIMITED	Director	12/09/2012	12/09/2012	-	Active	NO

Name :

Mr. Maddali Ravi Chandra Sekhar

Designation :

Director

Address :

24, Lisa CT, Parsippany NJ070549, New Jersey

Date of Birth/Age :

11.08.1969

Date of Appointment :

30.09.2013

DIN No.:

06604824

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	U74900AP2012PTC083036	SAIKRUTHI MINMET (INDIA) PRIVATE LIMITED	Director	30/09/2013	24/06/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajesh
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	%age holding
Grandhi Rajesh	505000	33.33
Kolli Rajesh	505000	33.33
Maddali Ravi Chandra Sekhar	505000	33.33
Total	1515000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	33.33
Directors or relatives of Directors	66.67
Total	100.00

BUSINESS DETAILS

Line of Business :

To carry the business to produce, develop, distribute, derive, discover, excavate, dig, blast, grade, prepare, promote, supply, import, export, Buy, sell, act as agent, broker and all types of minerals, their concentrates, compounds, products, by-products, derivatives, mixtures, ingredients and residues, available on the planet earth.

GENERAL INFORMATION

No. of Employees :

Information declined by the management

Bankers :

Axis Bank Limited, Lions Club Building, Waltair Main Road, Ramnagar, Visakhapatnam - 530002, Andhra Pradesh, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)
Short-term borrowings
Bank OD A/C Axis Bank CC Account – 913030005811382 (Secured by providing collateral security of site belonging for MR. K Rajesh, Director of 197375 Sq yds at Guntur and site belonging to Mrs. T Lakshmi be the personal guarantees of Mrs. T Lakshmi and the directors Mr. K Rajesh and Mr. G Rajesh )	37.965
Total	37.965

Banking Relations :
Auditors :
Name :	Chalam Associates Chartered Accountants
Address :	47-7-15, 3rd Floor, Dwarakanagar, Visakhapatnam – 530016, Andhra Pradesh, India
Tel. No.:	91-891-2745050/2553907
Fax No.:	91-891-2795579
E-Mail :	chalamasscoiates@yahoo.com
PAN N Income-tax PAN of auditor or auditor's firm :	AABFC4486H

CAPITAL STRUCTURE

As on 30.09.2013

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
1515000	Equity Shares	Rs.10/- each	Rs. 15.150 Millions

As on 31.03.2013

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

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	10.000
(b) Reserves & Surplus	0.193
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.010
Total Shareholders’ Funds (1) + (2)	10.203
(3) Non-Current Liabilities
(a) long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.000
(4) Current Liabilities
(a) Short term borrowings	37.965
(b) Trade payables	63.799
(c) Other current liabilities	0.044
(d) Short-term provisions	0.000
Total Current Liabilities (4)	101.808
TOTAL	112.011
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	1.685
Total Non-Current Assets	1.685
(2) Current assets
(a) Current investments	0.000
(b) Inventories	42.022
(c) Trade receivables	67.895
(d) Cash and cash equivalents	0.300
(e) Short-term loans and advances	0.033
(f) Other current assets	0.076
Total Current Assets	110.326
TOTAL	112.011

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013
	SALES
	Income	96.519
	Other Income	0.450
	TOTAL	96.969
Less	EXPENSES	95.797
	PROFIT/ (LOSS) BEFORE TAX	1.172
Less	TAX	0.979
	PROFIT/ (LOSS) AFTER TAX	0.193
	Earnings / (Loss) Per Share (Rs.)	0.19

KEY RATIOS

PARTICULARS		31.03.2013
PAT / Total Income	(%)	0.20
Net Profit Margin (PBT/Sales)	(%)	1.21
Return on Total Assets (PBT/Total Assets}	(%)	1.05
Return on Investment (ROI) (PBT/Networth)		0.11
Debt Equity Ratio (Total Debt /Networth)		3.72
Current Ratio (Current Asset/Current Liability)		1.08

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 one year	Yes
12]	Profitability for last one year	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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

REVIEW OF OPERATIONS

During the year the company has earned an income of Rs. 96.969 Millions and incurred an expenditure of Rs. 95.797 Millions. The provision for depreciation and taxes provided during the year were Rs. 0.881 Million and Rs. 0.098 Millions. Hence, the company has posted a net profit of Rs. 0.193 Millions. The profits were achieved due to the effort of the directors and key managerial personal of the company and the board has taken required steps for effective operations and to increase the business of the company by identifying potential investor and exporting new avenues in the industry segment.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10483819	12/03/2014	54,666,230.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARAS HTRA - 400025, INDIA	C00011353
2	10405552	29/05/2014 *	50,000,000.00	AXIS BANK LIMITED	DOOR NO.47-10-24/25, SAI TRADE CENTRE, 2ND LANE, DWARAKANAGAR, VISAKHAPATNAM, ANDHRA PRADESH - 530016, INDIA	C10951085

* Date of charge modification

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.60.79
UK Pound	1	Rs.99.30
Euro	1	Rs.78.16

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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.