MIRA INFORM REPORT

Report Date :

30.12.2011

IDENTIFICATION DETAILS

Name :	SHREENATHJI COMMODITIES PRIVATE LIMITED
Registered Office :	G-2, A.P.M.C. Market-II, Phase-II, Turbhe, Navi Mumbai-400703, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.01.2007
Com. Reg. No.:	11-167355
Capital Investment / Paid-up Capital :	Rs.0.525 Million
CIN No.: [Company Identification No.]	U15319MH2007PTC167355
TAN No.: [Tax Deduction & Collection Account No.]	MUMS54627G
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer and Distributor of Kohinoor Basmati Rice.
No. of Employees :	Not Divulged by the management

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 7000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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.

INFORMATION PARTED BY

Name :	Mr. Jignesh Shah
Designation :	Accounts Department
Contact No.:	91-9821108300
Date :	29.12.2011

LOCATIONS

Registered Office :	G-2, A.P.M.C. Market-II, Phase-II, Turbhe, Navi Mumbai-400703, Maharashtra, India
Tel. No.:	91-22-41223714/ 15/ 16
Mobile No.:	91-9821108300 (Mr. Jignesh Shah)
Fax No.:	Not Available
E-Mail :	damodar.chakubhai@gmail.com shreenathijent@vsnl.net shreenathjicom@gmail.com
Location :	Owned

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Mahesh Damodar Parikh

Designation :

Director

Address :

A-20-77, Rajawadi Co-Operative Housing Society, Ghatkopar (East), Mumbai-400077, Maharashtra, India

Date of Birth/Age :

30.05.1953

Date of Appointment :

29.01.2007

DIN No.:

00244121

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	U51200MH1997PTC109390	DAMODAR CHAKUBHAI FOOD GRAINS PRIVATE LIMITED	Director	11/7/1997	11/7/1997	Active	NO
2	U51220MH2004PTC145187	SHARAD TRADING FOOD GRAINS PRIVATE LIMITED	Director	19/03/2004	19/03/2004	Active	NO

Name :

Mr. Atul Ishwsarlal Parikh

Designation :

Director

Address :

A-23/91, Rajawadi, Co-Operative Housing Society, Ghatkopar (East), Mumbai-400077, Maharashtra, India

Date of Birth/Age :

09.12.1962

Date of Appointment :

29.01.2007

DIN No.:

00244250

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	U51200MH1997PTC109390	DAMODAR CHAKUBHAI FOOD GRAINS PRIVATE LIMITED	Director	1/12/1997	1/12/1997	Active	NO
2	U51220MH2004PTC145188	RAMBHABEN DAMODAR FOOD GRAINS PRIVATE LIMITED	Director	19/03/2004	19/03/2004	Active	NO
3	U15319MH2007PTC167355	SHREENATHJI COMMODITIES PRIVATE LIMITED	Director	29/01/2007	29/01/2007	Active	NO

Name :

Mr. Devang Kirit Parikh

Designation :

Director

Address :

B-17/231, Rajawadi Co-Operative Housing Society, Ghatkopar (East), Mumbai-400077, Maharashtra, India

Date of Birth/Age :

02.10.1974

Date of Appointment :

29.01.2007

DIN No.:

01655304

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	U51200MH1997PTC109390	DAMODAR CHAKUBHAI FOOD GRAINS PRIVATE LIMITED	Director	1/12/1997	1/12/1997	Active	NO
2	U51220MH2004PTC145188	RAMBHABEN DAMODAR FOOD GRAINS PRIVATE LIMITED	Director	19/03/2004	19/03/2004	Active	NO
3	U15319MH2007PTC167355	SHREENATHJI COMMODITIES PRIVATE LIMITED	Director	29/01/2007	29/01/2007	Active	NO

KEY EXECUTIVES

Name :	Mr. Jignesh Shah
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Mahesh Damodar Parikh	500
Atul Ishwarlal Parikh	500
Devang Kirit Parikh	500
Amit Mahesh Parikh	500
Ishwarlal Damodar Parikh	250
Kirit Damodar Parikh	250
Sharadben Ishwarlal Parikh	250
Kiranben Kirit Parikh	250
Rupal Atul Parikh	250
Dharini Devang Parikh	250
Tejal Amit Parikh	250
Ishwarlal D Parikh (HUF)	250
Kirit D Parikh ( HUF)	250
Mahesh D Parikh (HUF)	250
Atul I Parikh (HUF)	250
Devang K Parikh (HUF)	250
Amit M Parikh (HUF)	250
Total	5250

(AS ON 30.09.2011)

Equity Shares Break – Up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Dealer and Distributor of Kohinoor Basmati Rice.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :	Wholesalers
No. of Employees :	Not Divulged by the management
Bankers :	Not Divulged

Banking Relations :	--
Auditors :
Name :	Sachin Mahante and Company Chartered Accountant
Address :	I-003, Yashwant Vihar, PH-I, Bolinj Road, Near MGM School, Virar (West), Thane-401303, Maharashtra, India
PAN No.:	AAMPM6207H

CAPITAL STRUCTURE

(AS ON 31.03.2011)

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
5250	Equity Shares	Rs.100/- each	Rs.0.525 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.525	0.525	0.525
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.184	1.012	0.671
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.709	1.537	1.196
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		30.600	30.600	24.150
TOTAL BORROWING		30.600	30.600	24.150
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		32.309	32.137	25.346
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.472	0.012	0.022
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.819	16.363	12.932
	Sundry Debtors	16.613	13.426	16.268
	Cash & Bank Balances	2.436	2.264	1.216
	Other Current Assets	0.322	0.042	0.008
	Loans & Advances	0.197	0.157	0.191
Total Current Assets		32.387	32.252	30.615
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.559	0.145	5.291
	Other Current Liabilities
	Provisions	0.000	0.000	0.027
Total Current Liabilities		0.559	0.145	5.318
Net Current Assets		31.828	32.107	25.297
MISCELLANEOUS EXPENSES		0.009	0.018	0.027
TOTAL		32.309	32.137	25.346

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		TOTAL	279.068	289.519	288.105
Less	EXPENSES
		TOTAL	278.807	289.021	287.366
	PROFIT BEFORE TAX		0.261	0.498	0.739
Less	TAX		0.089	0.157	0.275
	PROFIT AFTER TAX		0.172	0.341	0.464
	Earnings Per Share (Rs.)		32.82	64.96	88.40

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.06	0.12	0.16
Return on Total Assets (PBT/Total Assets}	(%)	0.79	1.54	2.41
Return on Investment (ROI) (PBT/Networth)		0.15	0.32	0.62
Debt Equity Ratio (Total Liability/Networth)		18.23	20.00	24.64
Current Ratio (Current Asset/Current Liability)		57.94	222.43	5.76

LOCAL AGENCY FURTHER INFORMATION

Sundry creditor’s details are not available:

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	-----
No. of Employees	No
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	No
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	No
Banking Facility Details	No
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	No
Incorporation details is applicable	-----
Last Accounts filed at ROC	-----
Major Shareholders, if available	-----

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.52.89
UK Pound	1	Rs.82.71
Euro	1	Rs.69.15

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--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	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.