MIRA INFORM REPORT

Report Date :

16.11.2011

IDENTIFICATION DETAILS

Name :	AMIT POMEG-TECH PRIVATE LIMITED
Registered Office :	2^nd Floor, Tirupati Market, Near Gokul Tractors, Modhera Char Rasta, Mehsana 384002, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.05.2008
Com. Reg. No.:	04-053865
Capital Investment / Paid-up Capital :	Rs.20.000 millions
CIN No.: [Company Identification No.]	U15490GJ2008PTC053865
TAN No.: [Tax Deduction & Collection Account No.]	AHMA08078A
PAN No.: [Permanent Account No.]	AAHCA0178K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Pomegranate Juice, Pomegranate Seed Oil, Pomegranate Extract Powder, Pulpy Amla Juice (Pulpy Content-30%) and other products like Punica Grenatum Juice Powder, Emblica Officinalis Juice Powder, Pomegranate Tea Cuts, Aloe Vera Juice Powder, Morinda Juice, etc.
No. of Employees :	90 Approximately

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a company having moderate track. There appears a huge accumulated loss recorded by the company. Profitability position of the company is under pressure, However, trade relations are fair. Payments are slow. The company can be considered for business dealings on a safe and secured 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
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. Girish Chandra Singh
Designation :	Chief Executive Officer
Contact No.:	91-9099021806
Date :	14.11.2011

LOCATIONS

Registered Office :	2^nd Floor, Tirupati Market, Near Gokul Tractors, Modhera Char Rasta, Mehsana 384002, Gujarat, India
Tel. No.:	91-2762-240340
Mobile No.:	91-9099021806 (Mr. Girish)
Fax No.:	91-2762-240340
E-Mail :	gshethwala@gmail.com amitpomegtech@gmail.com
Website :	www.amitpomegtech.com
Area :	2000sq.ft
Location :	Owned
Factory :	167/3, Heduva – Rajgar, Becharaji Road, Tal and District Mehsana, Gujarat, India
Area :	100 Acer Farm
Location :	Owned

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Shailesh A. Patel
Designation :	Director
Date of Birth/Age :	11.08.1968
Qualification :	B E Instruments
Date of Appointment :	13.05.2008
DIN No.:	02163901

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	U15490GJ2008PTC053865	Amit Pomeg-Tech Private Limited	Director	13/05/2008	13/05/2008	-	Active	NO

Name :	Mrs. Jagruti S. Patel
Designation :	Director
Date of Birth/Age :	26.06.1974
Qualification :	Graduate
Date of Appointment :	13.05.2008
DIN No.:	02163892

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	U74999GJ1995PTC024834	Gayatri Fillers Private Limited	Director	01/03/1995	01/03/1995	-	Active	NO
2	U14100GJ1998PLC033745	Gayatri Microns Limited	Director	28/03/2003	28/03/2003	-	Active	NO
3	U15490GJ2008PTC053865	Amit Pomeg-Tech Private Limited	Director	13/05/2008	13/05/2008	-	Active	NO

Name :	Mr. Ambaram J Patel
Designation :	Director
Date of Birth/Age :	01.02.1946
Date of Appointment :	21.06.2011
DIN No.:	03558418

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	U15490GJ2008PTC053865	Amit Pomeg-Tech Private Limited	Director	21/06/2011	21/06/2011	-	Active	NO

Name :	Mr. Maniben A Patel
Designation :	Director
Date of Birth/Age :	01.06.1950
Date of Appointment :	21.06.2011
DIN No.:	03558418

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	U15490GJ2008PTC053865	Amit Pomeg-Tech Private Limited	Director	21/06/2011	21/06/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Girish Chandra Singh
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Ambalal Johabhai Patel	558500
Maniben A Patel	684500
Shailesh A Patel	280500
Jagruti S Patel	76500
Amitbhai A Patel	110000
Narottambhai M Patel	230000
Hiraben N Patel	60000
Total	2000000

AS ON 30.09.2011

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

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Pomegranate Juice, Pomegranate Seed Oil, Pomegranate Extract Powder, Pulpy Amla Juice (Pulpy Content-30%) and other products like Punica Grenatum Juice Powder, Emblica Officinalis Juice Powder, Pomegranate Tea Cuts, Aloe Vera Juice Powder, Morinda Juice, etc.
Products :	Pomegranate Juice Pomegranate Seed Oil Pomegranate Extract Powder Pomegranate Tea Cuts Pulpy Amla Juice (Pulpy Content-30%). Punica Grenatum Juice Powder Emblica Officinalis Juice Powder Aloe Vera Juice Powder Freeze Dried Powder Spray Dried Powder Morinda Juice.
Exports :
Products :	Pomegranate Juice
Countries :	European Countries, USA
Terms :
Selling :	L/C, Cash, Credit (30 Days)
Purchasing :	Cash, Credit (30 Days)

PRODUCTION STATUS

AS ON 31.03.2011

Particulars	Unit	Installed Capacity	Actual Production
Pomegranate Juice	Ltrs.	1250000	5334.75
Pomegranate Extra Powder	Kg.	--	1270
Pomegranate Seed Oil	Kg.	--	1861.75
Aloevera Juice	Ltrs.	--	23710

GENERAL INFORMATION

Customers :

Wholesalers

No. of Employees :

90 Approximately

Bankers :

Bank of Baroda, Mandvi Baroda, Having its Branch at Industrial Estate, Opposite Simandhar Temple, Branch Mehsana – 384 002, Gujarat, India

Facilities :

SECURED LOAN	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Bank of Baroda Term Loan Account (secured by mortgage of leasehold factory land and building and hypothecation pf plant and machinery, electrification etc financed by bank and personal guarantee of directors)	25.822	35.223
Bank of Baroda Cash Credit Account (secured by hypothecation of stocks and book debts and by mortgage of leasehold factory land and building, hypothecation of plant and machinery, electrification etc. financed by bank and personal guarantee of directors )	8.514	11.692
Total	34.336	46.915
UNSECURED LOAN	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Loan from Directors	0.000	2.453
Loan from Shareholders, Friends and Relatives	9.231	9.424
Total	9.231	11.877

Banking Relations :	--
Auditors :
Name :	S Gaurang and Associates Chartered Accountant
Address :	313, Advait, Near Sandesh Press, Vastrapur, Ahmedabad 380054, Gujarat, India
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10 each	Rs.20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10 each	Rs.20.000 millions

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		20.000	20.000	20.000
2] Share Application Money		14.772	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(18.550)	(9.979)	0.000
NETWORTH		16.222	10.021	20.000
LOAN FUNDS
1] Secured Loans		34.336	46.915	33.592
2] Unsecured Loans		9.231	11.877	4.411
TOTAL BORROWING		43.567	58.792	38.003
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		59.789	68.813	58.003
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		50.344	59.030	55.252
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	7.512	0.000	0.000
	Sundry Debtors	0.294	8.019	0.000
	Cash & Bank Balances	5.064	2.310	0.376
	Other Current Assets	0.000	2.350	0.000
	Loans & Advances	2.471	3.109	4.980
Total Current Assets		15.341	15.788	5.356
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.217	6.417	4.893
	Other Current Liabilities	0.112	0.163	0.057
	Provisions	0.000	0.000	0.002
Total Current Liabilities		6.329	6.580	4.952
Net Current Assets		9.012	9.208	0.404
MISCELLANEOUS EXPENSES		0.433	0.575	2.347
TOTAL		59.789	68.813	58.003

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Sales	6.313	14.367
		Other Income	0.132	0.073
		TOTAL (A)	6.445	14.440
Less	EXPENSES
		Cost of Materials	2.167	9.180
		Manufacturing Expenses	2.592	3.138
		Increase/(Decrease) in Finished Goods	(3.450)	(2.164)
		Carriage Inward	0.000	0.845
		Excise Duty	0.000	0.015
		Preoperative Expenses Written Off	0.077	0.077
		Preliminary Expenses Written Off	0.067	0.067
		Administrative Expenses	1.112	2.127
		TOTAL (B)	2.565	13.285
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3.880	1.155
Less	FINANCIAL EXPENSES (D)		4.602	4.380
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.722)	(3.225)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.848	6.755
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		(8.570)	(9.980)
Less	TAX (H)		0.000	0.000
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		(8.570)	(9.980)
	Earnings Per Share (Rs.)		--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(132.97)	(69.11)	NA
Net Profit Margin (PBT/Sales)	(%)	(135.75)	(69.46)	NA
Return on Total Assets (PBT/Total Assets}	(%)	(13.04)	(13.33)	NA
Return on Investment (ROI) (PBT/Networth)		(0.52)	(0.00)	NA
Debt Equity Ratio (Total Liability/Networth)		3.07	6.52	2.14
Current Ratio (Current Asset/Current Liability)		2.42	2.39	1.08

LOCAL AGENCY FURTHER INFORMATION

FIXED ASSETS:

• Factory Building
• Plant and Machinery
• Electrification
• Office Equipment
• Computer
• Material Handing Equipment
• Laboratory Instrument

FORM 8

This form is for	Modification of charge
Charge identification number of the modified	10122310
Corporate identity number of the company	U15490GJ2008PTC053865
Name of the company	AMIT POMEG-TECH PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2^nd Floor, Tirupati Market, Near Gokul Tractor, Modhera Cross Road, Mehsana - 384002, Gujarat, India
Type of charge	Immovable Property
Particular of charge holder	Bank of Baroda Mandvi Baroda, Having its Branch at Industrial Estate, Opposite Simandhar Temple, Branch Mehsana – 384 002, Gujarat, India E-Mail: gshethwala@yahoo.com
Nature of description of the instrument creating or modifying the charge	Instrument relating to deposit of title deeds.
Date of instrument Creating the charge	19.09.2008
Amount secured by the charge	Rs.57.500 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: 1% above BPLR i.e. 15% p.a. Payable with monthly rest. Terms of Repayment: Term Loan to be repaid in 6 years including 12 months moratorium (maximum) period. 1^st installment to commence from 01.10.2009 and working capital loan repayable on demand. Margin: Building/ Structure 33.33% Plant/ Machinery 33.33% Extent and Operation of the charge: Charge operate on immovable properties as mentioned in Part-A to C of the second schedule given in the document fro instrument relating to deposit of title deeds for the finance and dues of the Bank.
Short particulars of the property charged	1) Plot No.2 known as Plot No.105/ A, Tulsi Bunglows of Ramosana 2) Non agricultural land bearing Block No.167/ 3 3) Shed No.3 on leasehold land bearing Block No.167/ 3.

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	--
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
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	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) 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.50.56
UK Pound	1	Rs.80.30
Euro	1	Rs.68.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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		11

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.