MIRA INFORM REPORT

Report Date :

30.12.2011

IDENTIFICATION DETAILS

Name :	JAYLON IMPEX INDIA PRIVATE LIMITED [w.e.f. 28.09.2000]
Formerly Known As :	JAYLON AGENCIES PRIVATE LIMITED
Registered Office :	Office No. 6, 2^nd Floor, New Commonwealth Co-operative Society Limited, 229, Linking Road, Bandra (West), Mumbai-400050, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	30.10.1991
Com. Reg. No.:	11-063844
Capital Investment / Paid-up Capital :	Rs.18.201 Millions
CIN No.: [Company Identification No.]	U51109MH1991PTC063844
TAN No.: [Tax Deduction & Collection Account No.]	MUMJ08983C
PAN No.: [Permanent Account No.]	AAACJ9739N
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, Importer and Exporter of Yarn, Fabrics, Dry Fruits, Pulses, etc.
No. of Employees :	125 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 190000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

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

Name :	Mr. N.K. Sharma
Designation :	Accounts Manager
Contact No.:	91-22-26407624
Date :	21.12.2011

LOCATIONS

Registered Office :	Office No. 6, 2^nd Floor, New Commonwealth Co-operative Society Limited, 229, Linking Road, Bandra (West), Mumbai-400050, Maharashtra, India
Tel. No.:	91-22-26407624/26407625/26407626
Fax No.:	91-22-26407629
E-Mail :	jaylon@impex@vsnl.com
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Jai Motilal Kaushik

Designation :

Director

Address :

Flat No. 4, Nugget Building, 18^th Road, Khar, Mumbai-400052, Maharashtra, India

Date of Birth/Age :

05.06.1951

Date of Appointment :

30.10.1991

Din No.:

00706923

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	U51109MH1991PTC063844	JAYLON IMPEX INDIA PRIVATE LIMITED	Director	30-10-91	30-10-91	-	Active	NO
2	U01403GJ2008PTC055144	PAVITRA FARMS PRIVATE LIMITED	Director	30-09-08	30-09-08	-	Active	NO
3	U51311MH2008PTC187435	PAVITRA NONWOVENS PRIVATE LIMITED	Director	10-10-08	10-10-08	12-10-09	Active	NO
4	U74140MH2010PTC209485	SUVIN ADVISORS PRIVATE LIMITED	Director	27-10-10	27-10-10	-	Active	NO

Name :

Mr. Karan Jai Kaushik

Designation :

Director

Address :

Flat No. 4, Nugget Building, 18^th Road, Khar, Mumbai-400052, Maharashtra, India

Date of Birth/Age :

25.09.1980

Date of Appointment :

01.06.2001

Din No.:

00706951

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	U51109MH1991PTC063844	JAYLON IMPEX INDIA PRIVATE LIMITED	Director	01-06-01	01-06-01	-	Active	NO
2	U01403GJ2008PTC055144	PAVITRA FARMS PRIVATE LIMITED	Director	30-09-08	30-09-08	04-12-09	Active	NO
3	U51311MH2008PTC187435	PAVITRA NONWOVENS PRIVATE LIMITED	Director	10-10-08	10-10-08	-	Active	NO
4	U51109MH2009PTC195639	NUTTY NUTS PRIVATE LIMITED	Director	09-09-09	09-09-09	09-10-09	Active	NO
5	U74140MH2010PTC209485	SUVIN ADVISORS PRIVATE LIMITED	Director	27-10-10	27-10-10	-	Active	NO

KEY EXECUTIVES

Name :	Mr. N.K. Sharma
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Jai Motilal Kaushik	48130
Pushpa Jai Kaushik	13770
Ajaykumar Motilal Kaushik	4990
Rajendra Prasad Sharma	8500
Vinod Prasad Sharma	8300
Chhajuram Motilal Kaushik	8500
Mehak Jai Kaushik	10100
Karan Jai Kaushik	16400
Geeta Ajay Kaushik	8990
Arun Madanlalji Kaushik	8490
Deshbandhu Rattanlal Kaushik	8490
Jai Motilal Kaushik	2290
Savitri Motilal Kaushik	8490
Sucheta Mehak Kaushik	8200
Sweksha Karan Kaushik	8400
Jai Motilal Kaushik HUF	6180
Ajaykumar Motilal Kaushik	3790
Total	182010

As on 30.09.2011

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

BUSINESS DETAILS

Line of Business :	Trader, Importer and Exporter of Yarn, Fabrics, Dry Fruits, Pulses, etc.
Exports :
Products :	Wheat, Rice and Sugar
Countries :	· Indonesia · Malaysia · Thailand
Imports :
Products :	Yarn, Dry Fruits
Countries :	· China · USA · Indonesia
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Polysindo

Customers :

Wholesalers and Retailers

· Shri Krishna and Company

No. of Employees :

125 [Approximately]

Bankers :

· Indian Overseas Bank, New Marine Lines Branch, Merchant Chambers, Ground Floor, New Marine Lines, Mumbai-400020, Maharashtra, India

· Oriental Bank of Commerce, Overseas Branch, Dalamal Towers, 211 Nariman Point, Mumbai-400021, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2010 [Rs. in Millions]	As on 31.03.2009 [Rs. in Millions]
Gujarat Industrial Development Corporation [Secured against land at Ankleshwar]	0.000	16.263
Allahabad Bank-Term Loan [Secured against land at Fadvel]	116.078	115.609
Indian Overseas Bank Overdraft [Secured against book debts and stocks]	0.000	12.249
Indian Overseas Bank Buyers Credit	38.531	0.000
Car Loan Kotak Mahindra [Secured against motor car]	0.674	0.000
Total	155.283	144.121
Unsecured Loan
From Directors and Interest Firms	0.127	1.406
From Shareholders	0.061	0.668
From Others	71.486	44.238
Total	71.674	46.312

Banking Relations :	--
Auditors :
Name :	S.K. Khanna and Company Chartered Accountants
Address :	7, Sneh Sagar, Gulmohar X Road No. 12, Juhu Scheme, Mumbai-400049, Maharashtra, India
Tel. No.:	91-22-26712296/30648653
Pan No.:	ADIPK8613N

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
400000	Equity Shares	Rs.100/- each	Rs.40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
182010	Equity Shares	Rs.100/- each	Rs.18.201 Millions

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		18.201	18.201	18.201
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		31.673	27.301	24.157
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		49.874	45.502	42.358
LOAN FUNDS
1] Secured Loans		155.283	144.121	17.168
2] Unsecured Loans		71.674	46.312	25.966
TOTAL BORROWING		226.957	190.433	43.134
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		276.831	235.935	85.492
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		156.849	46.123	31.450
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	1.000	1.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	20.734	30.560	19.440
	Sundry Debtors	336.481	324.962	148.723
	Cash & Bank Balances	114.547	62.601	4.101
	Other Current Assets	28.369	63.562	75.802
	Loans & Advances	16.688	95.861	6.584
Total Current Assets		516.819	577.546	254.650
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	227.014	285.442	189.446
	Other Current Liabilities	167.048	100.650	10.511
	Provisions	2.775	2.642	1.651
Total Current Liabilities		396.837	388.734	201.608
Net Current Assets		119.982	188.812	53.042
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		276.831	235.935	85.492

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1623.037
		Other Income	7.661
		TOTAL (A)	1630.698	1681.842	1228.310
Less	EXPENSES
		Office Expenses
		Administrative Expenses	1577.118	1637.769	1196.148
		Advertising Expenses
		TOTAL (B)	1577.118	1637.769	1196.148
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		53.580	44.073	32.162
Less	FINANCIAL EXPENSES (D)		46.468	38.536	22.659
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		7.112	5.537	9.503
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.600	0.477	0.388
	PROFIT BEFORE TAX (E-F) (G)		6.512	5.060	9.115
Less	TAX (H)		2.141	1.915	3.012
	PROFIT AFTER TAX (G-H) (I)		4.371	3.145	6.103
	EARNINGS IN FOREIGN CURRENCY
		Travelling Expenses	0.042	0.105	0.096
		Bank Charges	0.058	0.046	0.061
	TOTAL EARNINGS		0.100	0.151	0.157
	Earnings Per Share (Rs.)		24.07	17.86	--

Particulars	31.03.2011
Sales Turnover [Approximately]	2100.000 [Due to more production]

Expected Sales (2011-12) : Rs.2500.000 Millions.

The above information has been parted by Mr. N.K. Sharma.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.27	0.19	0.50
Net Profit Margin (PBT/Sales)	(%)	0.40	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.97	0.81	3.19
Return on Investment (ROI) (PBT/Networth)		0.13	0.11	0.22
Debt Equity Ratio (Total Liability/Networth)		12.51	12.73	5.77
Current Ratio (Current Asset/Current Liability)		1.30	1.49	1.26

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	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	Yes
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	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

FIXED ASSETS:

· Factory Land

· Land at Fadvel

· Office Premises

· Office Equipments

· Motor Car

· Motor Cycle

· Bicycle

· Computer Systems

· Agricultural Equipments

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.53.35
UK Pound	1	Rs.82.50
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	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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		47

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.