MIRA INFORM REPORT

Report Date :

28.07.2008

IDENTIFICATION DETAILS

Name :	AMBE PHYTO EXTRACTS PRIVATE LIMITED
Registered Office :	U -190, Street, No. 4 Shakarpur, Delhi – 110 092
Country :	India
Date of Incorporation :	27.06.2007
Com. Reg. No.:	55-165275
CIN No.: [Company Identification No.]	U51101DL2007PTC165275
IEC No.:	0507085426
PAN No.: [Permanent Account No.]	AAGCA4375B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Herbal and Plant Extracts, Phytochemicals, Nutraceuticals, Fruits and Vegetable Powders and Healthcare Products.

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	New Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a new company meeting its smaller commitments slightly over times as reported. Trade relations are fair. Scale of activity is limited. The company can be considered for small to mediocre business dealings.

LOCATIONS

Registered Office/ Sales Office :	U -190, Street, # No. 4 Shakarpur, Delhi – 110 092, India
Tel. No.:	91-11-64654288
E-Mail :	impex@ambephytoextracts.com nlmittal_co@yahoo.co.in sohan@ambephytoextracts.com
Website :	www.ambephytoextracts.com
Area :	1000 Sq.fts
Location :	Owned
Corporate Office/ Factory :	SF – 1, Plot # 172, Secot IV, Vaishali, Ghaziabad – 201010, Uttar Pradesh, India
Tel. No.:	91-11-4374288
Fax No.:	91-120-4377288
Area :	1300 Sq.fts
Location :	Owned

DIRECTORS

Name :	Mr. Harsh Pal Singh
Designation :	Director
Address :	SF- 1, Plot No. 172, Sector – 4, Vaishali , Ghaziabad – 201010, Uttar Pradesh, India
Qualification :	M. Sc (Micro Biological)
Date of Birth/Age :	01.01.1972
Name :	Mrs. Beena Singh
Designation :	Director
Address :	SF- 1, Plot No. 172, Sector – 4, Vaishali , Ghaziabad – 201010, Uttar Pradesh, India
Date of Birth/Age :	24.04.1970

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders		No. of Shares
Mr. Harshpal Singh		5000
Mrs. Beena Singh		5000
	Total	10000

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Herbal and Plant Extracts, Phytochemicals, Nutraceuticals, Fruits and Vegetable Powders and Healthcare Products.
Exports :
Countries :	Taiwan, France, US, Switzerland, Thailand, Poland and Nigeria
Imports :
Countries :	China
Terms :
Selling :	Cash, Advance
Purchasing :	Cash

GENERAL INFORMATION

Customers :	· Bio Healthcare Private Limited · Bless Ayurveda · Dalmia Medicos · Indfag India Limited · Patanjali Ayurved Private Limited · Sanath Products Limited (Dabur) · Trident Foods India Private Limited · Tulsi Amrit Private Limited · TVC Skyshop Limited
Bankers :	· ICICI Bank Limited, Preet Vihar · Oriental Bank of Commerce, Vaishali , Ghaziabad – 201010, Uttar Pradesh, India · HSBC Bank Limited, Konat Place
Banking Relations :	---
Auditors :
Name :	Mital and Associates Chartered Accountants
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital : Not Available

FINANCIAL DATA

[all figures are in Rupees Millions]

New Company

LOCAL AGENCY FURTHER INFORMATION

TRADE REFERENCES:-

· Americanway Biotech, Taiwan

· Bannerbio Nutrachemicals Limited, China

· Bio Active Resources Inc, United States

· Ce - Bio - Environment, France

· Daman International, Switzerland

· Forcus Company Limited, Thailand

· Fundacja Wielkopolski, Poland

· Love Leaf Garden Inc, United States

· Np Nutra Inc, United States

· Winfoods Limited, Nigeria

Website details ;-

At the company they are committed to deliver Standardized Quality Products to their valued Customers worldwide for Health Care, Nutraceuticals, Foods, Cosmetic and Herbal Products.

Their Infrastructure comprise of state-of-the-art facility and highly qualified and experienced work force, latest technology and equipments to produce and deliver Quality products.

ALOE VERA

Aloe Vera contains over 200 different components including 20 of the 22 Amino Acids found inhuman body. 8 essential Amino Acids are the found in the Aloe Vera juice, which cannot be produced by human body. It helps in breakdown of food sugars and fats aiding digestion and enhancing absorption.

It provides 8 types of Enzymes , 9 minerals , 4 main plant Steroids , monosaccharide and polysaccharides and Vitamins A ,B ,C ,E , B12 , Choline and folic acid.

It aids in controlling Blood Pressure, Hyper Tension, Diabetes and Piles. It helps in curing ailments like Asthma, Arthritis, Cancer, Heat Rashes, Eczema, Mouth Ulcers, and Body Heat and Stomach Disorders. It improves Bowel Movement and Liver function.

NONI JUICE

Noni juice is prepared from the fruit of Morinda citrifolia. Pure morinda citrifolia juice should be reddish brown in color and the finished product should contain little or no noni pulp.

Pure Noni Juice is a superior antioxidant that has been found to help the body eliminate harmful free radicals in the body's circulatory system, tissues, and cells, and as a result, noni use may increase energy levels.

Some of the health related ingredients of noni fruit that have been isolated are morindone, Morindine, Acubin, Terpene compounds, L Asperuloside, Various Anthraquinones, Alazarin, Caproic Acid, Caprylic acid, Scopoletin, Damnacanthal and Alkaloids.

STEVIA
Stevioside as a new natural sweet agent, been widely used in foods, drinks, medicines and daily chemicals, Broadly speaking, in all the sugar products, the stevioside can be used to take the place of cane sugar or gluside, Presently, stevioside is mainly used in drinks and medicine, especially in beverage, It is also used in the frozen food, canned rood, candied fruits, spices, wine, chewing gum and toothpaste.

The dosage of stevioside varies according to the difference of products. It can be determined through repeated research and experiments so as to guarantee the quality, feeling and taste of product.

STANDARDISED HERBAL EXTRACTS
PRODUCT	BOTANICAL NAME	STANDARISED FOR
Amla Extract	Emblica officinalis	Upto 40% Tannin and upto 30% Polyphenol
Andrographis Extract	Andrographis paniculata	Up to 95% Andrographolide by HPLC
Arjuna Extract	Terminalia Arjuna	0.5% Arjunolic Acid
Ashwagandha Extract	Withania somnifera	2.5% (Alkaloids 1% and Withanolides 1.5%) by Gravimetry
		4.5% (Alkaloids 2% and Withanolides 2.5%) by Gravimetry
Akarkara Extract	--- --- ---	Hexane soluble lipid0.20%
Aloe Vera	Aloe	Juice, Gel, Dry Powder 200:1 Aloin 10-50%
Bacopa Extract	Bacopa monneri	Up to 50% Bacosides by HPLC
Banaba Extract	Lagerstromeia Speciosa	Up to 5% Corosolic acid by HPLC
Boswellia Extract	Boswellia serrata	65% and 70% Boswellic acids by non-aqueous titration
Cocoa Extract	Theobroma cacao	4%, 6%, 8%, 10% and 20% Theobromine by HPLC
Cinnamon Extract	Cinnamonum Cassia	Upto 50% Polyphenols by UV
Fenugreek Extract	Trigonella foenum - graecum	Upto 90% 4-hydroxyisoleucine by HPLC
Garcinia Cambogia Extract	Garcinia cambogia	Calcium salts upto 70% Hydroxycitric acid(HCA)
		Potassium salts (water soluble) upto 50% HCA.
		Combined Ca/K Salts (water soluble) upto 60% HCA
		Magnesium salt (water soluble) upto 60% HCA.
Ginger Extract	Zingiber officinale	5% Gingerols by HPLC
		Soft extract 12-17% Gingerols by HPLC
Ginseng Extract	Panax ginseng	Ginsenoside 15 % by UV
Glucomannan Extract	Amorphophallus konjac	Upto 95% KGM
Gotu Kola Extract	Centella Asiatica	Up to 50% Triterpenes HPLC
		Up to 50% Asiaticosides HPLC
Green Coffee Extract	Coffee Arabica	45% Chlorogenic acid by HPLC and 40% Polyphenol by UV
Green Tea Extract	Camellia sinensis	Upto 50% Epigallocatechin Gallate (EGCG) by HPLC
		Upto 95% total Polyphenols by UV
Guggul Extract	Commiphora mukul	2.5% and 4% Guggulsterones EandZ by HPLC
		Soft extract 8% Guggulsterones by HPLC
Gymnema Extract	Gymnema sylvestre	25% and 75% Gymnemic acids by Gravimetry
		Upto 30% Gymnemic acids by HPLC
Lemon Balm Extract	Melissa officinalis	Upto 20% derivates of Hydroxycinnamic acid
Mangosteen Extract	Garcinia Mangostana	Upto 40% Mangostin by HPLC
Mucuna Pruriens Extract	Mucuna Pruriens	Upto 60% L-dopa by HPLC
Mulethi Extract	Glycyrrhiza glabra	Glycyrrhizin 15-25% by garrett Method
Pomegranate Extract	Punica granatum	Upto 40% Ellagic acid by HPLC
Senna Extract	Cassia aungustifolia	Ca Sennoside 10 %, 20% and 60% by HPLC
Stevia Extract	Stevia Rebaudiana	Stevial glycoside 90 %, Rebaudioside 80 % and 98 %
Spirulina	Spirulina	Protein 60% N2 estimation
Safed Musali	Chlorophytum	Saponin 15-50% by gravimetric method
Tribulus Extract	Tribulus terrestris	20%, 40% and 60% Steroidal Saponins by Gravimetry
Turmeric Extract	Curcuma longa	Upto 95% Curcuminoids by HPLC
Valerian Extract	Valeriana officinalis	0.8% Valerenic acids by HPLC
		Soft extract 10% Valerenic acids by HPLC

PRODUCT NAME	SPECIFICATION
Condroitin Sulphate	Purity 90%
Glucosamine HCL	NLT 98% and NMT 102%
Glucosamine Sulphate 2KCL	Purity NLT 98% and NMT 102
Lycopene	Lycopene 6%, 10% by HPLC
Lutein	Lutein 10%, 20%
MSM	Purity 98%

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 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.42.23
UK Pound	1	Rs.83.88
Euro	1	Rs.66.41

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	4
--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	NO
--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
TOTAL		27

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	Unfavourable & favourable factors carry similar weight in credit consideration. 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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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