MIRA INFORM REPORT

BUSINESS INFORMATION REPORT

1. Summary Information

		Country	INDIA
Company Name	NEETA CHEMICALS (INDIA) PRIVATE LIMITED	Principal Name 1	MR. BHUPENDRA BATUK RAI TRIVEDI
Status	MODERATE	Principal Name 2	MR. DINESH KUMAR BATUK RAI TRIVEDI
		Registration #	01-063106
Street Address	H. NO. 1-9-698, VIDYANAGAR, HYDERABAD – 500 044, ANDHRA PRADESH
Established Date	18.03.2009	SIC Code	--
Telephone#	--	Business Style 1	IMPORTER
Fax #	--	Business Style 2	--
Homepage	www.neetachemicals.com	Product Name 1	BULK INDUSTRIAL CHEMICALS
# of employees	50	Product Name 2	SOLVENTS
Paid up capital	Rs.295,531,000/-	Product Name 3	--
Shareholders	--	Banking	STATE BANK OF INDIA
Public Limited Corp.	NO	Business Period	ABOUT 2 YEARS
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	B (28)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	--	Current Liabilities	--
Inventories	--	Long-term Liabilities	--
Fixed Assets	--	Other Liabilities	--
Deferred Assets	--	Total Liabilities	--
Invest& other Assets	--	Retained Earnings	--
		Net Worth	--
Total Assets	--	Total Liab. & Equity	--
Total Assets (Previous Year)	--
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	2,129,000,000	Net Profit	53,200,000
Sales(Previous yr)	1,440,000,000	Net Profit(Prev.yr)	34,000,000

MIRA INFORM REPORT

Report Date :

24.02.2011

IDENTIFICATION DETAILS

Name :	NEETA CHEMICALS (INDIA) PRIVATE LIMITED

Registered Office :	H. No. 1-9-698, Vidyanagar, Hyderabad – 500 044, Andhra Pradesh

Country :	India

Date of Incorporation :	18.03.2009 1972 (Partnership Concern)

Com. Reg. No.:	01-063106

CIN No.: [Company Identification No.]	U24100AP2009PTC063106

IEC No.:	0909002347

TAN No.: [Tax Deduction & Collection Account No.]	HYDN03659F

PAN No.: [Permanent Account No.]	AACCN9693D

Legal Form :	Private Limited Liability Company

Line of Business :	Importer of Bulk Industrial Chemicals and Solvents.

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Maximum Credit Limit :	--

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is a successor of Neeta Chemical Agencies, a partnership firm started in the year 1972. It is a company having moderate track. Latest financials of the company is not available with the Government Department. Trade relations are reported as fair. 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.

ECGC Country Risk Classification List – April 1, 2010

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

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

INFORMATION PARTED BY

Name :	Ms. Padmavati
Designation :	Account Manager

Name :	Mr. Upadhyay
Designation :	Account Executive
Contact No.:	91-40-66105052
Date :	22.02.2011

LOCATIONS

Registered Office/ Godown :	H. No. 1-9-698, Vidyanagar, Hyderabad – 500 044, Andhra Pradesh, India
E-Mail :	ncadbt01@yahoo.com
Website :	www.neetachemicals.com
Location :	Rented

Correspondence Office :	3-4-267/9, Street No.14, Basant Talkies Lane, Kachiguda X Road, Hyderabad – 500 027, Andhra Pradesh, India
Tel. No.:	91-40-66105052/53/54/55
Mobile No.:	91-9866083008 (Mr. Bhuependra Trivedi)
Fax No.:	91-40-66251198
E-Mail :	ncabbt@gmail.com bbt@neetachemicals.com ncadbt01@yahoo.com
Area :	850 sq. ft
Location :	Rented

Branch Office 1 :	Beach Road, New Port Area, Kakinada – 533 007, Andhra Pradesh, India
Tel. No.:	91-884-2368732
E-Mail :	kakinada@neetachemicals.com
Location :	Rented

Branch Office 2 :	206/207, 2^nd Floor, Balaji Arcade, 64 S. V. Road, Kandivli (West), Mumbai – 400 067, Maharashtra, India
Tel. No.:	91-22-32673676/44
E-Mail :	mumbai@neetachemicals.com
Location :	Rented

Branch Office 3 :	# 35, IInd FLOOR, 2^nd Cross, Havanoor Extension, Nagasndra Post, Bangalore – 560 073, Karnataka, India
Tel. No.:	91-80-65833344
E-Mail :	banglore@neetachemicals.com

DIRECTORS

Name :	Mr. Dinesh Kumar Batuk Rai Trivedi
Designation :	Managing Director
Address :	2-2-186/18/2A, Baghamberpet Colony, Amberpet, Hyderabad – 500013, Andhra Pradesh, India
Date of Birth/Age :	05.11.1970
DIN No.:	02380432

Name :	Mr. Bhupendra Batuk Rai Trivedi
Designation :	Director (Finance)
Address :	2-2-186/18/2, Baghamberpet Colony, Amberpet, Hyderabad – 500013, Andhra Pradesh, India
Date of Birth/Age :	25.07.1972
DIN No.:	02380448

Name :	Mr. S. Rajeshekhar
Designation :	Executive Director
Address :	2-2-186/20, Ramakrishna Nagar, Baghamberpet, Hyderabad – 500013, Andhra Pradesh, India
Date of Birth/Age :	22.11.1967

Name :	Mrs. Meghna Trivedi
Designation :	Director
Address :	2-2-186/18/2, Ramakrishna Nagar, Baghamberpet, Hyderabad – 500013, Andhra Pradesh, India
Date of Birth/Age :	21.07.1974
DIN No.:	02529615

Name :	Mrs. Bhavna Trivedi
Designation :	Director
Address :	2-2-186/18/2, Ramakrishna Nagar, Baghamberpet, Hyderabad – 500013, Andhra Pradesh, India
Date of Birth/Age :	28.07.1969
DIN No.:	02529900

Name :	Mrs. Sunkara Logita
Designation :	Director
Address :	2-2-186/20, Ramakrishna Nagar, Baghamberpet, Hyderabad – 500013, Andhra Pradesh, India
Date of Birth/Age :	15.03.1971
DIN No.:	02529646

KEY EXECUTIVES

Name :	Ms. Padmavati
Designation :	Account Manager

Name :	Mr. Upadhyay
Designation :	Account Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders		No. of Shares
Meghna Trivedi		1667
Bhavana Trivedi		1667
S. Logita		1667
Dinesh Kumar		1667
S. Rajasekhar		1666
Bhupendra Trivedi		1666
Total		10000

Names of Allottees		No. of Shares
Meghna Trivedi		1951000
Bhavana Trivedi		1761000
S. Logita		1745500
Dinesh Kumar		450000
Dinesh Trivedi		2000000
S. Rajasekhar		1925000
Bhupendra Trivedi		1907500
Total		11740000

As on 18.03.2010

Names of Allottees		No. of Shares
Meghna Trivedi		92500
Bhavana Trivedi		99000
S. Logita		64500
Dinesh Trivedi		200000
S. Rajasekhar		225000
Bhupendra Trivedi		302000
Total		983000

As on 29.03.2010

Names of Allottees

No. of Shares

Bhupendra Trivedi

100

Total

100

As on 27.05.2010

Names of Allottees		No. of Shares
Meghna Trivedi		437500
Bhavana Trivedi		437500
S. Logita		462500
Dinesh Trivedi		955000
S. Rajasekhar		917500
Bhupendra Trivedi		907500
Hem Chemicals Industries Private Limited, India		1115000
Total		5232500

As on 15.11.2010

Names of Allottees		No. of Shares
Meghna Trivedi		1950000
Bhavana Trivedi		1912500
S. Logita		1912500
Dinesh Trivedi		1950000
S. Rajasekhar		1950000
Bhupendra Trivedi		1912500
Total		11587500

BUSINESS DETAILS

Line of Business :	Importer of Bulk Industrial Chemicals and Solvents.

Products :	Chemicals Solvents Plastics and Polymers

Agencies Held :	NPCC – Iran for Methanol Jilai Corpn – China for Citric Acid Weifang – China for Methodin Chloride

Exports :
Products :	Chemicals Solvents Plastics and Polymers
Countries :	US Korea

Imports :
Products :	Chloromethanes Citric Acid
Countries :	Singapore Korea China Iran USA

Terms :
Selling :	L/C, Cash and Credit

Purchasing :	L/C, Cash and Credit (60/ 90 Days)

GENERAL INFORMATION

Customers :	Retailers and End Users

No. of Employees :	50 (Approximately)

Bankers :	State Bank of India, Commercial Branch (Secunderabad), Ashoka My Home, Chambers, S.P. Road, Secunderabad – 500 003, Andhra Pradesh, India

Facilities :	L/C + CC – Rs.1970.000 millions


Banking Relations :	--

Auditors :
Name :	P.S. Rander and Company Chartered Accountant
Address :	Nizamabad
Mobile No.:	91-9848003770

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
36000000	Equity Shares	Rs.10/- each	Rs.360.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
29553100	Equity Shares	Rs.10/- each	Rs.295.531 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2010	31.03.2009
Sales Turnover	2129.000	1440.000

Profit/Loss for the year	53.200	34.000

Export Value	0.000	0.000

Import Value	1900.000	1000.000

Expected Sales (2010-2011): Rs.8000.000 Millions

LOCAL AGENCY FURTHER INFORMATION

Note:

The Registered Office of the company have been shifted from 3-4-267/9, Street No 14, Basanttalkies Lane, Kachiguda, Hyderabad - 500027, Andhra Pradesh, India to the present w.e.f 21.04.2009.

FORM 8:

Corporate identity number of the company	U24100AP2009PTC063106
Name of the company	NEETA CHEMICALS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	3-4-267/9, Street No 14, Basanttalkies Lane, Kachiguda, Hyderabad - 500027, Andhra Pradesh, India
This form is for	Creation of charge
Type of charge	Immovable property Book Debts Movable Property Hypothecation of current assets of the company
Particular of charge holder	State Bank of India - Commercial Branch, Ashok My Home, Chambers, S. P. Road, Secunderabad - 500003, Andhra Pradesh, India
Nature of instrument creating charge	1. Agreement of loan for overall limit 2. Agreement of Hypothecation of goods and assets 3. Memorandum of deposit for creation of charge for term loan/overall limit 4. Letter regarding grant of individual limits within the overall limit
Date of instrument Creating the charge	22.09.2009
Amount secured by the charge	Rs. 655.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - 1% above SBAR. Effective 12.75% p.a. Terms of Repayment - repayable on demand Margin - Finished goods - 25% Book debts / receivables - 25% Letter of credit - 15% Bank Guarantee - 15% Extent and Operation of the charge - The charge operates as security for repayment of credit facilities provided by the bank to the company and are secured by way of hypothecation of current assets and equitable mortgage of immovable properties belonging to the company, directors and their relatives/friends
Particulars of the property charged	Hypothecation of book debts, movable assets and other current assets of the company EM of Plot No. 151, 1799.94 Sq. mts, or 2152.72 Sq. yards at S. NO. 125 part, IDA Mallapur Village, Uppal Mandal, R. R. Dist. belonging to the Company EM of other immovable properties belonging to directors and their relatives/friends-details as per attachment (part of Memorandum of deposit for creation of charge for term loan/overall limit document)

TRADE REFERENCES:

· Korea S.K. Energy

· Chateau Drugs, Hyderabad

WEBSITE DETAILS:

PROFILE

Subject formerly known as NEETA CHEMICAL AGENCIES started in 1972 by its founder Late Shri Batukrai Trivedi with a vision to create a presence in global petrochemical and polymer market.

HISTORY

From a humble beginning of small trading house, NCIPL has grown to dynamic business group with diversified activities in imports of Petrochemicals, Polymers, Basic Chemicals, Bulk storage and Logistics.

Today NCIPL is one of the leading petrochemical importers in South India wide spread with six offices across India and NCIPL is one of premier petrochemical marketing and distribution company. Gained excellent reputation in the market for supply of high quality product with in-time deliveries with dedicated services, which has forayed a trademark in the market. Thanks to our esteemed principle suppliers and customers all over the globe.

STORAGE

Subject presently having storage capacity of 20 kt for petro chemicals at Kakinada port, with the growing demand for petrochemicals, NCIPL has initiated the process to set up the Liquid Bulk chemical storage terminal at Kakinada for 100 kt and shall complete the project by end of December 2010

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.45.20
UK Pound	1	Rs.73.17
Euro	1	Rs.61.88

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
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	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		28

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.

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