MIRA INFORM REPORT

Report No. :	307391
Report Date :	21.02.2015

IDENTIFICATION DETAILS

Name :	GRANDELVE MINES AND MINERALS PRIVATE LIMITED
Registered Office :	19-74, Kota Veedhi, Chodavaram, Visakhapatnam – 531036, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	16.08.2012
Com. Reg. No.:	01-082526
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U13209AP2012PTC082526
TAN No.: [Tax Deduction & Collection Account No.]	VPNG02613C
PAN No.: [Permanent Account No.]	AAECG8505F
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Supplier of Manganese Ore, Natural Manganese Ore, Iron Ore, Coal and Coke, Iron Ore Fines and Manganese.
No. of Employees :	15 (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 300
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Even though the company was incorporated as on 16^th August 2012, it has recently commenced its business operations. It is having moderate track record. Mr. Nagarjuna (Director) has provided us with the general information and he also confirmed that the subject has started its commercial operations from December, 2012. As per available financial of 2013, the company has achieved a minimal sales turnover from its business operations. Trade relations are fair. Business is active. Payment terms are slow. 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 SME
Rating	SE 3B
Rating Explanation	Moderate financial strength and moderate performance capability.
Date	October 2014

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Srinivas
Designation :	Supervisor
Contact No.:	91-891-6565959
Date :	20.02.2015

LOCATIONS

Registered Office :	19-74, Kota Veedhi, Chodavaram, Visakhapatnam – 531036, Andhra Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	raj@grandelve.com info@grandelve.com mmuralica@yahoo.com
Website :	http://www.grandelve.com
Location :	Owned
Head/ Administrative Office :	No.7-5-111, First Floor, Mythreyi Nagar, Pandurangapuram, Visakhapatnam - 530003, Andhra Pradesh, India
Tel. No.:	91-891-6565959
Branch Office :	H. No.Q3/ 14, Ground Floor, Civil Township, Rourkela – 769004, Odisha, India
Tel No.:	91-661-6505959
Email :	gmmvizag@gmail.com

DIRECTORS

AS ON 01.11.2013

Name :	Mr. Nagaraju Ravuri
Designation :	Director
Address :	19-74, Kota Veedhi, Chodavaram, Visakhapatnam – 531036, Andhra Pradesh, India
Date of Birth/Age :	10.06.1977
Date of Appointment :	16.08.2012
DIN No.:	05278861
Name :	Mr. Venkata Satya Ram Hanumanthu
Designation :	Director
Address :	FF-4, Nagavalli Residency, Visakhapatnam – 530017, Andhra Pradesh, India
Date of Birth/Age :	17.06.1975
Date of Appointment :	16.08.2012
DIN No.:	05273028

KEY EXECUTIVES

Name :	Mr. Srinivas
Designation :	Supervisor

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 01.11.2013

Name of Shareholders	No of Shares	Percentage of Holding
Nagaraju Ravuri	5000	50.00
Venkata Satya Ram Hanumanthu	5000	50.00
Total	10000	100.00

AS ON 01.11.2013

Equity Shares Break – up

Category	Percentage of Holding
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Supplier of Manganese Ore, Natural Manganese Ore, Iron Ore, Coal and Coke, Iron Ore Fines and Manganese.
Products :	· Iron Ore · Manganese Ore · Natural Manganese Ore · Iron Ore Fines · Iron Ore Powder (200 mesh 300 mesh) · Manganese · Coal & Coke
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Finished Goods
Countries :	China
Imports :
Products :	--
Countries :	--
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers, Retailers and End Users

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

15 (Approximately)

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks: Not Divulged

· Bank of India

Gajuwaka Branch, Visakhapatnam – 530026, Andhra Pradesh, India

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Malladi Associates Chartered Accountants
Address :	Plot No.274, Sector-3, M.V.P Colony, Visakhapatnam – 530017, Andhra Pradesh, India
Tel No.:	91-891-6531046
Mobile No.:	91-9848130075
Email :	mmuralica@yahoo.com
PAN No.:	ADQPM1882K
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 01.11.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

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	0.100
(b) Reserves & Surplus	0.011
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1)+(2)	0.111
(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	0.000
(b) Trade payables	0.000
(c) Other current liabilities	0.000
(d) Short-term provisions	0.036
Total Current Liabilities (4)	0.036
TOTAL	0.147
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	0.000
Total Non-Current Assets	0.000
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	0.084
(e) Short-term loans and advances	0.045
(f) Other current assets	0.018
Total Current Assets	0.147
TOTAL	0.147

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013
	SALES
		Sales and Services	0.288
		Other Income	NA
		TOTAL	NA
Less	EXPENSES
		TOTAL	NA
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.023
Less/ Add	DEPRECIATION/ AMORTISATION		0.000
	PROFIT/ (LOSS) BEFORE TAX		0.023
Less	TAX		0.012
	PROFIT/ (LOSS) AFTER TAX		0.011
	Earnings Per Share (Rs.)		1.13

KEY RATIOS

PARTICULARS		31.03.2013
Net Profit Margin (PAT/Sales)	(%)	0.04
Return on Total Assets (PBT/Total Assets}	(%)	15.65
Return on Investment (ROI) (PBT/Networth)		0.21
Debt Equity Ratio (Total Debt/Networth)		0.00
Current Ratio (Current Asset/Current Liability)		4.08

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

INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10476334	18/01/2014	9,500,000.00	BANK OF INDIA	BANK OF INDIA, GAJUWAKA BRANCH, VISAKHAPATNAM, ANDHRA PRADESH - 530026, INDIA	B95735734

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 62.26
UK Pound	1	Rs. 96.01
Euro	1	Rs. 70.72

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	RAS
Report Prepared by :	BVA

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
--PROFITABILITY	1~10	3
--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.