MIRA INFORM REPORT

Report Date :

30.12.2011

IDENTIFICATION DETAILS

Name :	INDUJA TRADERS PRIVATE LIMITED
Registered Office :	203, Sidat Mansion, Building No. 17/17A, 2^nd Marine Street, Mumbai – 400 002, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	25.01.1994
Com. Reg. No.:	11-76237
Capital Investment / Paid-up Capital :	Rs. 0.792 million
CIN No.: [Company Identification No.]	u51900mh1994ptc076237
TAN No.: [Tax Deduction & Collection Account No.]	mumi08918a
PAN No.: [Permanent Account No.]	aaaci8509d
Legal Form :	Private Limited Liability Company
Line of Business :	To carry on business as General Merchants and Traders in goods and commodities, on ready or forward basis.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba ( 49 )

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 131648
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. Profit and Loss Account of the company is not available.

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

LOCATIONS

Registered Office :	203, Sidat Mansion, Building No. 17/17A, 2^nd Marine Street, Mumbai – 400 002, Maharashtra
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	skumarjjn@yahoo.com skumarjjn@gmail.com

DIRECTORS

As on: 30.09.2010

Name :	Mr. Jitendrakumar Bhanwar Salecha
Designation :	Director
Address :	A-104, Rajumang – 11, Shiv Vallabh Cross Road, Ashokvan, Dahisar (East0, Mumbai – 400 068, Maharashtra
Date of Birth/Age :	21.04.1970
Date of Appointment :	30.10.2002
DIN No.:	00152097

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	U51900MH1994PTC076237	Induja Traders Private Limited	Director	30/10/2002	30/10/2002	-	Active	NO
2	U65990MH1993PTC074011	Vanquish Investment And Leasing Private Limited	Director	29/08/2003	29/08/2003	-	Active	YES
3	U51909MH2005PTC156108	Infiniti Mercantile Company Private Limited	Director	05/01/2010	05/01/2010	-	Active	NO
4	U18101MH1993PTC074109	Golden Agro Products Private Limited	Director	30/09/2011	20/01/2011	-	Active	NO

Name :	Mr. Sanjay Babulalji Jain
Designation :	Director
Date of Birth/Age :	01.05.1977
Date of Appointment :	19.03.2010
DIN No.:	00255936

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	U51909MH2005PTC156109	Colourshop Trading Company Private Limited	Director	31/03/2008	31/03/2008	-	Active	NO
2	U51900MH1994PTC076237	Induja Traders Private Limited	Director	19/03/2010	19/03/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2010

Names of Shareholders (As on 30.09.2008)	No. of Shares
Mr. Jitendra b Salecha	1500
Mr. Rakhi J salecha	1500
Ms. Jamnadevi salecha	1000
Mr. Sanjay JAin	2000
Ms. Aayushi Salecha	1000
Ms. Diya J Salecha	920
Total	7920

As on: 30.09.2010

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

BUSINESS DETAILS

Line of Business :

To carry on business as General Merchants and Traders in goods and commodities, on ready or forward basis.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Centurion Bank Limited, Central Bombay InfoTech Park, Ground Floor, 101 K Khadye Marg, Mahalaxmi, Mumbai – 400 011

· Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai 400018, Maharashtra, India

Facilities:

Rs. In Millions

SECURED LOAN	31.03.2010	31.03.2009
From Bank	43.602	8.649
TOTAL	43.602	8.649
UNSECURED LOAN
From Others	14.715	0.000
Narmada Fintrade Limited	0.000	3.098
TCPL Packing Limited	0.000	0.044
TOTAL	14.715	3.142

Banking Relations :

----

Auditors :

Name :

S Kumar and A Kumar

Chartered Accountants

Address :

545, Bharat Photo House, Room No. 310, 3^rd Floor, Kalbadevi Road, Mumbai 400002, Maharashtra, India

Associates/Subsidiaries :

Nil

CAPITAL STRUCTURE

As on: 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs. 100/- each	Rs. 1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7920	Equity Shares	Rs. 100/-each	Rs. 0.792 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.792	0.792	0.792
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		32.120	28.966	26.227
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		32.912	29.758	27.019
LOAN FUNDS
1] Secured Loans		43.602	8.649	3.792
2] Unsecured Loans		14.715	3.142	0.000
TOTAL BORROWING		58.317	11.791	3.792
DEFERRED TAX LIABILITIES		0.922	0.360	0.000
TOTAL		92.151	41.909	30.811
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		16.129	14.570	11.110
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		52.132	28.450	12.711
DEFERREX TAX ASSETS		0.000	0.000	0.500
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.862	6.908	0.000
	Sundry Debtors	212.224	396.167	738.902
	Cash & Bank Balances	5.501	9.459	7.024
	Other Current Assets	0.000	0.000	21.311
	Loans & Advances	85.761	144.108	58.224
Total Current Assets		308.348	556.642	825.461
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	280.679	544.815	816.230
	Current Liabilities	0.000	9.672	0.011
	Provisions	3.779	3.266	2.730
Total Current Liabilities		284.458	557.753	818.971
Net Current Assets		23.890	(1.111)	6.490
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		92.151	41.909	30.811

KEY RATIOS

PARTICULARS	31.03.2010	31.03.2009	31.03.2008
Debt Equity Ratio (Total Liability/Networth)	10.44	19.15	30.45
Current Ratio (Current Asset/Current Liability)	1.08	0.99	1.01

LOCAL AGENCY FURTHER INFORMATION

change of address:-

The Registered Office of the company was 8/F, Block No. 90 Sonawala Building, Tardeo, Mumbai – 400 002, Maharashtra change to present address w.e.f 04.04.2007.

form 8:-

Name of the company	INDUJA TRADERS PRIVATE LIMITED
Presented By	INDUJA TRADERS PRIVATE LIMITED
1) Date and description of instrument creating the change	Mortgage Deed Dated 22.06.2005
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 4.195 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Flat No. 23 and 34, F Wing, Aavishkasr , Majas, Pratap Nagar, Jogeshwari (E), Mumbai
4) Gist of the terms and conditions and extent and operation of the charge.	Mortgage to Exist till Repayment of Loan and Interest thereon.
5) Name and Address and description of the person entitled to the charge.	Centurion Bank Limited, Central Bombay InfoTech Park, Ground Floor, 101 K Khadye Marg, Mahalaxmi, Mumbai – 400 011

fixed assets:-

· Computer

· Furniture and Fixtures

· Flat at Jogeshwari

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 records 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.53.36
UK Pound	1	Rs.82.51
Euro	1	Rs.68.99

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		49

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.