MIRA INFORM REPORT

Report Date :

10.12.2011

IDENTIFICATION DETAILS

Name :	ALLIED BIOCHEM PRIVATE LIMITED
Registered Office :	1002, Jay Shiva Apartments, Opposite Azad Society , Ambavadi, Ahmedabad – 380 015, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	04.06.2009
Com. Reg. No.:	04-057147
Capital Investment / Paid-up Capital :	Rs.0.500 million
CIN No.: [Company Identification No.]	U24230GJ2009PTC057147
TAN No.: [Tax Deduction & Collection Account No.]	AHMA09254A
PAN No.: [Permanent Account No.]	AAHCA8369G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Active Pharmaceutical Ingredients and Chemicals.
No. of Employees :	75 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B

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

Maximum Credit Limit :	USD 300
Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new company establishing itself gradually. Trade relations are reported as fair. Business is active. Payments are unknown. 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY (General Details)

Name :	Mr. Tarun
Designation :	Manager
Contact No.:	91-8128664972
Date :	08.12.2011

LOCATIONS

Registered Office :	1002, Jay Shiva Apartments, Opposite Azad Society , Ambavadi, Ahmedabad – 380 015, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-8128664972 (Mr. Tarun)
Fax No.:	Not Available
E-Mail :	pinakincs@yahoo.com mkt@purechemindia.com mail@purechemindia.com
Website :	http://www.alliedbiochem.com
Location :	Owned
Factory 1 :	Plot No.4717, GIDC Estate, Ankleshwar – 393 002, Gujarat, India
Area :	22000 sq mtrs
Location :	Owned
Factory 2 :	Plot No.3809-10-11, GIDC Estate, Ankleshwar – 393 002, Gujarat -India
Area :	10000 sq mtrs
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Jayeshbhai Babubhai Desai

Designation :

Director

Address :

1002, Jay Shiva Apartment, Opposite Azad Society, Ambawadi, Ahmedabad – 380 015, Gujarat, India

Date of Birth/Age :

29.03.1965

Qualification :

B. Mech.

Date of Appointment :

04.06.2009

DIN No.:

00605237

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999GJ1988PTC011287	Manoramya Resorts And Hotels Private Limited	Director	15-02-04	15-02-04	02-02-11	Active	NO
2	U92110MH1995PLC094992	Royal Bhanwarsa India Limited	Director	07-04-04	07-04-04	04-02-11	Active	NO
3	U45201GJ2007PTC052125	Megha Arcades Private Limited	Director	07-11-07	07-11-07	-	Active	NO
4	U24110GJ1991PTC015989	Crystal Chemie Private Limited	Director	20-10-08	20-10-08	-	Active	NO
5	U45201GJ2009PTC056225	Mahalaxmi Infratrade Private Limited	Director	26-02-09	26-02-09	26-07-11	Active	NO
6	U24230GJ2009PTC057147	Allied Biochem Private Limited	Director	04-06-09	04-06-09	-	Active	NO
7	U24119GJ1995PTC025431	Pure Chem Private Limited	Director	25-06-09	25-06-09	-	Active	NO

Name :

Mrs. Bhartiben Jayeshbhai Desai

Designation :

Director

Address :

1002, Jay Shiva Apartment, Opposite Azad Society, Ambawadi, Ahmedabad – 380 015, Gujarat, India

Date of Birth/Age :

44 Years

Qualification :

B.Com/ LLB

Date of Appointment :

12.12.2009

DIN No.:

01751197

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45201GJ2007PTC052125	Megha Arcades Private Limited	Director	07-11-07	07-11-07	Active	NO
2	U24110GJ1991PTC015989	Crystal Chemie Private Limited	Director	12-12-09	12-12-09	Active	NO
3	U24230GJ2009PTC057147	Allied Biochem Private Limited	Director	12-12-09	12-12-09	Active	NO
4	U24119GJ1995PTC025431	Pure Chem Private Limited	Director	25-03-10	25-03-10	Active	NO

KEY EXECUTIVES

Name :	Mr. Tarun
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Jayeshbhai Desai	24980
Bhawarlal Sharma	25000
Mehul Parmar	10
Kiran Makwana	10
Total	50000

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Active Pharmaceutical Ingredients and Chemicals.
Products :	v Ferrous Fumarate (IP/BP/USP/EP) v Dried Ferrous Sulphate (IP/BP/USP/EP) v Fumaric Acid-Technical Grade v Cetirizine Hydrochloride-Technical Grade v Ascorbyl Palmitate Technical Grade v Metformin Hydrochloride Technical Grade v Acetic Acid (AR/LR Dry solv) v Methanol(AR/LR/HPLC) v Hexane (AR/LR/HPLC)
Exports :
Products :	Ferrous Fumarate
Countries :	v Germany v Malaysia v South Korea v Singapore
Terms :
Selling :	L/C and Credit (30/ 60 days)
Purchasing :	L/C and Credit (30/ 60 days)

GENERAL INFORMATION

Customers :	Pharmaceutical Companies v Krishna Chemicals, Vadodara
No. of Employees :	75 (Approximately)
Bankers :	State Bank of India, Ankleshwar

Banking Relations :	--
Auditors :
Name :	Shah and Patel Company Chartered Accountants
Address :	5-B, Vardan Exclusive, Near Vimal House, Stadium Road, Navrangpura, Ahmedabad – 380 009, Gujarat, India
Tel. No.:	91-79-30222277/ 30222288
E-Mail :	mail@shahandpatel.com
Income-tax PAN of auditor or auditor's firm :	APMPS0397D
Subsidiaries :	Pure Chem Private Limited

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS			31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital			0.500
2] Share Application Money			0.000
3] Reserves & Surplus			0.000
4] (Accumulated Losses)			(0.426)
NETWORTH			0.074
LOAN FUNDS
1] Secured Loans			0.000
2] Unsecured Loans			18.224
TOTAL BORROWING			18.224
DEFERRED TAX LIABILITIES			0.000
TOTAL			18.298
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]			0.074
Capital work-in-progress			0.000
INVESTMENT			15.000
DEFERREX TAX ASSETS			0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories		0.000
	Sundry Debtors		2.487
	Cash & Bank Balances		0.299
	Other Current Assets		0.000
	Loans & Advances		2.603
Total Current Assets			5.389
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		2.201
	Other Current Liabilities
	Provisions		0.000
Total Current Liabilities			2.201
Net Current Assets			3.188
MISCELLANEOUS EXPENSES			0.036
TOTAL			18.298

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010
	INCOME	3.328
	PROFIT/ (LOSS) BEFORE TAX	(0.426)
Less	TAX	0.000
	PROFIT/ (LOSS) AFTER TAX	(0.426)
	Earnings/ (Loss) Per Share (Rs.)	(8.52)

KEY RATIOS

PARTICULARS		31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	(7.80)
Return on Investment (ROI) (PBT/Networth)		(5.76)
Debt Equity Ratio (Total Liability/Networth)		276.01
Current Ratio (Current Asset/Current Liability)		2.45

LOCAL AGENCY FURTHER INFORMATION

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	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	No
12) Profitability for last three years	--
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	--
18) Major customers	Yes
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	--
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

OPERATION:

The company was incorporated on 4/6/2009 and hence the first accounting period will be of less than twelve months. During the first accounting period, the company has commenced trading activities.

SUBSIDIARY:

The company was allotted 15,00,000 equity shares in Pure Chem Private Limited and the last allotment of 140,000 equity shares was made on 25/3/2010 and thereby the company’s holding has crossed 50% of paid up capital of Pure Chem Private Limited.

TRADE REFERENCES:

v Krishna Chemicals, Vadodara

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.52.23
UK Pound	1	Rs.81.55
Euro	1	Rs.69.60

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.