MIRA INFORM REPORT

Report Date :

25.10.2011

IDENTIFICATION DETAILS

Name :	MANTORA OIL PRODUCTS LIMITED
Registered Office :	16 Tara Chand Dutta Street, Kolkata – 700073, West Bengal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	17.05.1984
Com. Reg. No.:	21-096678
Capital Investment / Paid-up Capital :	Rs.161.747 Millions
CIN No.: [Company Identification No.]	U15141WB1984PLC096678
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Purchaser and Seller of Vegetable Oils, Fats and Ghee.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 2310000
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 and as per commitments. The company can be considered normal 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

LOCATIONS

Registered Office :	16 Tara Chand Dutta Street, Kolkata – 700073, West Bengal, India
Tel. No.:	91-33-22343520
E-Mail :	rajivfcs@gmail.com
Website :	www.mantoragroup.com
Corporate Office :	24/49, Birhana Roadm Kanpur -1, Uttar Pradesh, India
Tel. No.:	91-521-2353428/ 2360959/ 2310300
Email :	mopl@sancharnet.in mantora@sancharnet.in
Factory :	Chirana Road, Bisayakpur, Rania, Kanpur Dehat, Uttar Pradesh, India
Tel. No.:	91-511-240250/ 240270
Delhi Office :	159 – 161, Katra Bariyan Fatehpuri, Delhi – 6
Tel. No.:	91-11-23968918/ 23951354

DIRECTORS

As on 31.03.2010

Name :

Mr. Jagdish Prasad Gupta

Designation :

Managing Director

Address :

26/49, Birhana Road, Kanpur – 208001, Uttar Pradesh, India

Date of Birth/Age :

21.08.1953

Date of Appointment :

24.05.1984

DIN No.:

00326306

Other Directorship :

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
U15141WB1984PLC096678	Mantora Oil Products Limited	Managing director	1/04/2011	24/05/1984	-	Active	NO
U15141WB1995PTC086057	Mantora Agro Industries Private Limited	Director	30/04/2009	16/08/2002	-	Active	NO
U45400WB2007PTC115343	Space Properties And Constructions Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U45400WB2007PTC115339	Brahmanand Builders Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U45400WB2007PTC115333	Mansarovar Developers Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U45400WB2007PTC115650	Ramavtar Builders Private Limited	Director	9/05/2007	9/05/2007	-	Active	NO
U45400WB2007PTC115648	Shree Jee Construction Private Limited	Director	9/05/2007	9/05/2007	-	Active	NO
U45400WB2007PTC115652	Swarnalekha Infrastructure Private Limited	Director	9/05/2007	9/05/2007	-	Active	NO
U45400WB2007PTC115651	Jeevandeep Promoters Private Limited	Director	9/05/2007	9/05/2007	-	Active	NO
U65993WB1996PLC076335	Bhushan Capitals Ltd	Director	10/10/2007	10/10/2007	-	Active	NO
U74120UP2008PTC034406	Scg Trading Private Limited	Director	7/01/2008	7/01/2008	5/06/2011	Active	NO
U74900UP2008PTC034397	Gkg Trading Private Limited	Director	7/01/2008	7/01/2008	28/02/2011	Active	NO
U01403UP2008PTC034408	Scg Agritrade Private Limited	Director	7/01/2008	7/01/2008	-	Active	NO
U01403UP2008PTC034407	Rcg Agritrade Private Limited	Director	7/01/2008	7/01/2008	-	Active	NO
U01403UP2008PTC034401	Gkg Agritrade Private Limited	Director	7/01/2008	7/01/2008	-	Active	NO
U01403UP2008PTC034400	Vng Agritrade Private Limited	Director	7/01/2008	7/01/2008	-	Active	NO
U74900UP2008PTC034398	Jpg Agritrade Private Limited	Director	7/01/2008	7/01/2008	-	Active	NO
U01407WB2008PTC124126	Maa Jagdamba Agriculture Private Limited	Director	13/03/2008	13/03/2008	-	Active	NO
U01400WB2008PTC124228	Venkatpati Agro Private Limited	Director	17/03/2008	17/03/2008	-	Active	NO
U26960WB2008PTC124218	Vindhyachal Agriculture Private Limited	Director	17/03/2008	17/03/2008	-	Active	NO
U01400WB2008PTC124217	Prayag Agro Tech Private Limited	Director	17/03/2008	17/03/2008	-	Active	NO
U01400WB2008PTC124215	Uttaranchal Agro Tech Private Limited	Director	17/03/2008	17/03/2008	-	Active	NO
U01122WB2008PTC124206	Suvam Agriculture Private Limited	Director	17/03/2008	17/03/2008	-	Active	NO
U01400WB2008PTC124205	Maa Parvati Agriculture Private Limited	Director	17/03/2008	17/03/2008	-	Active	NO
U01407WB2008PTC124213	Dhanlaxmi Agro Private Limited	Director	17/03/2008	17/03/2008	-	Active	NO
U01400WB2008PTC124210	Mamta Agriculture Private Limited	Director	17/03/2008	17/03/2008	-	Active	NO
U01400WB2008PTC124214	Pawansut Agriculture Private Limited	Director	17/03/2008	17/03/2008	-	Active	NO
U01403WB2008PTC124535	J and N Agritrade Private Limited	Director	27/03/2008	27/03/2008	-	Active	NO
U01403WB2008PTC124534	Jagdish Agrotrade Private Limited	Director	27/03/2008	27/03/2008	-	Active	NO
U01403WB2008PTC124533	Gopeshwar Krishi Vypar Private Limited	Director	27/03/2008	27/03/2008	-	Active	NO
U01403WB2008PTC124532	Siddharth Krishivyapar Company Private Limited	Director	27/03/2008	27/03/2008	-	Active	NO
U51909WB2008PTC124531	Suresh Agritrade Private Limited	Director	27/03/2008	27/03/2008	-	Active	NO

Name :

Mr. Gopi Kishan Gupta

Designation :

Director

Address :

26/49, Birhana Road, Kanpur – 208001, Uttar Pradesh, India

Date of Birth/Age :

13.04.1923

Date of Appointment :

24.05.1984

DIN No.:

00373492

Other Directorship :

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
U15141WB1984PLC096678	Mantora Oil Products Limited	Director	24/05/1984	24/05/1984	-	Active	NO
U45400WB2007PTC115341	Swapnavilla Developers Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U45400WB2007PTC115339	Brahmanand Builders Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U01403WB2008PTC124534	Jagdish Agrotrade Private Limited	Director	27/03/2008	27/03/2008	-	Active	NO
U51909WB2008PTC124530	Gs Krishivyapar Private Limited	Director	27/03/2008	27/03/2008	-	Active	NO
L20219WB1985PLC096557	Assam Entrade Limited	Director	24/02/2009	24/02/2009	-	Active	NO

Name :

Mr. Jayesh Gupta

Designation :

Director

Address :

House No. 26/49, Birhana Road, Kanpur – 208001, Uttar Pradesh, India

Date of Birth/Age :

28.11.1986

Date of Appointment :

21.03.2009

DIN No.:

01113988

Other Directorship :

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
U51909WB1985PTC038449	Clive Fabrics Private Limited	Director	15/03/2005	15/03/2005	-	Active	NO
U45400WB2007PTC115330	Aparupa Infrastructure Private Limited	Director	25/04/2007	25/04/2007	-	Active	NO
U45400WB2007PTC115333	Mansarovar Developers Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U45400WB2007PTC115332	Maa Vindhachal Promoters Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U45400WB2007PTC115343	Space Properties And Constructions Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U45400WB2007PTC115650	Ramavtar Builders Private Limited	Director	9/05/2007	9/05/2007	-	Active	NO
U45400WB2007PTC115647	Shreekunj Infrastructure Private Limited	Director	9/05/2007	9/05/2007	-	Active	NO
U45400WB2007PTC115652	Swarnalekha Infrastructure Private Limited	Director	9/05/2007	9/05/2007	-	Active	NO
U45400WB2007PTC115651	Jeevandeep Promoters Private Limited	Director	9/05/2007	9/05/2007	-	Active	NO
U15141WB1984PLC096678	Mantora Oil Products Limited	Whole-time director	1/04/2011	21/03/2009	-	Active	NO

Name :

Mr. Nishant Gupta

Designation :

Managing Director

Address :

26/49, Birhana Road, Kanpur – 208001, Uttar Pradesh, India

Date of Birth/Age :

04.06.1978

Date of Appointment :

21.12.2001

DIN No.:

00326317

Other Directorship :

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
L20219WB1985PLC096557	Assam Entrade Limited	Whole-time director	1/07/2010	10/06/1999	-	Active	NO
U74899WB1994PTC126184	Dharam Portfolio Private Limited	Director	30/07/2009	30/03/2000	-	Active	NO
U65910WB1980PLC032751	Manjushree Agencies Limited	Director	19/04/2001	19/04/2001	-	Not Available for eFiling	NO
U15141WB1984PLC096678	Mantora Oil Products Limited	Whole-time director	1/04/2011	21/12/2001	-	Active	NO
U45400WB2007PTC115329	Maa Bhawani Promoters Private Limited	Director	25/04/2007	25/04/2007	-	Active	NO
U45400WB2007PTC115328	Deepsikha Construction Private Limited	Director	25/04/2007	25/04/2007	-	Active	NO
U45400WB2007PTC115340	Skyhigh Rising Constructions Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U45400WB2007PTC115342	Mamta Infrastructure Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U45400WB2007PTC115341	Swapnavilla Developers Private Limited	Director	26/04/2007	26/04/2007	-	Active	NO
U65993WB1996PLC076335	Bhushan Capitals Limited	Director	10/10/2007	10/10/2007	-	Active	NO
U01403UP2008PTC034400	Vng Agritrade Private Limited	Director	7/01/2008	7/01/2008	-	Active	NO
U74900UP2008PTC034398	Jpg Agritrade Private Limited	Director	7/01/2008	7/01/2008	-	Active	NO
U74900UP2008PTC034396	Ldg Trading Private Limited	Director	7/01/2008	7/01/2008	-	Active	NO
U01403UP2008PTC034395	Ng Agritrade Private Limited	Director	7/01/2008	7/01/2008	-	Active	NO
U01403UP2008PTC034394	Sg Agritrade Private Limited	Director	7/01/2008	7/01/2008	-	Active	NO
U01403WB2008PTC124535	J and N Agritrade Private Limited	Director	27/03/2008	27/03/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Gopi Kishan Gupta	287600
Jagdish Prasad	1072600
Urmila Devi	425500
Nishant Gupta	266900
Siddharth Gupta	218300
Gopi Kishan Suresh Chand (HUF)	223800
Gopi Kishan Ramesh Chand (HUF)	193400
Jagdish Prasad Ramesh Chand (HUF)	190700
Jagdish Prasad Laxmi Devi Ramesh Chand (HUF)	256100
Jagdish Prasad Nishant Gupta (HUF)	271600
Vishwa Nath Jagdish Prasad Suresh Chand (HUF)	319500
Vishwa Nath Urmila Devi (HUF)	197500
Vishwa Nath Gupta (HUF)	316700
Vishwa Nath Laxmi Devi Ramesh Chand	237900
Suresh Chand Ramesh Chand Laxmi Devi (HUF)	308800
Vishwa Nath Siddhartha (HUF)	272200
Mamta Gupta	249000
Vishwa Nath Gupta	440000
Suresh Chand Gupta	637800
Rati Gupta	62000
Ankita Gupta	113800
Sita Gupta	226000
Ekta Gupta	90000
Clive Fabrics Private Limited, India	629200
Bhushan Capitals Limited, India	378000
Darpan Distributors Private Limited, India	200000
Rainbow Vincom Private Limited, India	615000
Gangotri Vincom Private Limited, India	752000

As on 31.03.2011

Names of Allottee	No. of Shares
Fancy Marketing and Investment Company Private Limited, India	1392000
Naveena Sales Private Limited, India	400000
Total	1792000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Bodies corporate	32.00
Directors or relatives of Directors	68.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Purchaser and Seller of Vegetable Oils, Fats and Ghee.
Brand Names :	BAWARCHI

PRODUCTION STATUS AS ON 31.03.2010

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Refinery Section (Main Products)
Refined Vegetable Oils
Main Products	Tons	NA	NA	53091.423
By – Products and Waste Products	Tons	NA	NA	5681.415
Vanaspati Section (Main Products)
(Including Refining)		NA	NA	46006.830
Solvent Division (Main Products)
Crude Oil	Tons	NA	NA	4553.080
Deoiled Cake	Tons	NA	NA	22915.772

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

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

· State Bank of Indore, Birhana Road, Kanpur – 208001, Uttar Pradesh, India

· HDFC Bank Limited

· Canara Bank, Overseas Branch, Civil Lines, Kanpur – 208001, Uttar Pradesh, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
A) Overdraft from HDFC Bank Limited (Secured by way of Pledge of FDRs of Rs.41.403 Millions of the company)	15.394	19.792
B) (i)Cash Credit from State Bank of Indore, Kanpur	98.569	95.211
(ii)Term Loan from State Bank of Indore, Kanpur (Secured by way of first charge on stocks, receivables, bills and other chargeable current assets of the company (both present and (Secured by way of Equitable mortgage on land of the third parties and personal guarantee of directors and relatives)	46.214	50.940
C) Over draft from Canara Bank, Kanpur (Secured by way of Pledge of FDRs of Rs.231.400 Millions of the company)	0.114	15.391
Total	160.291	181.334
Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Bodies Corporate	62.604	0.648
From Shareholders (Including interest accrued thereon)	0.579	0.000
Total	63.183	0.648

Banking Relations :	--
Auditors :
Name :	S. Jaykishan Chartered AccountantS
Address :	12, Ho – Chi Minh Sarani, Suite No. 2D, 2E, and 2F, 2^nd Floor, Kolkata – 700071, West Bengal, India
Tel. No.:	91-33-4003-5801
Fax No.:	91-33-4003-5832
E-Mail :	info@sjaykishan.com
PAN.:	AASFS4445F
Parties over which Key Management Personnel or their relatives have Significant Influence :	· Assam Entrade Limited · Clive Fabrics Private Limited · Spark Tinviz Private Limited · Mantora Agro Industries Private Limited · Shri Gopi Kishan Gupta Omar Vaish Dharmada Trust

CAPITAL STRUCTURE

After 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs.200.000 Millions

Issued, Subscribed and Paid-up Capital : Rs.

No. of Shares	Type	Value	Amount
16174700	Equity Shares	Rs.10/- each	Rs.179.667 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs.200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16174700	Equity Shares (Includes 11043300 Nos Equity Shares of Rs.10/- each allotted as fully paid up Bonus Shares by capitalising General Reserve and Securities Premium in earlier years)	Rs.10/- each	Rs.161.747 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		161.747	161.747	145.967
2] Share Application Money		15.500	0.000	0.000
3] Reserves & Surplus		401.873	337.391	187.741
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		579.120	499.138	333.708
LOAN FUNDS
1] Secured Loans		160.291	181.334	81.226
2] Unsecured Loans		63.183	0.648	262.592
TOTAL BORROWING		223.474	181.982	343.818
DEFERRED TAX LIABILITIES		24.114	7.778	6.181
TOTAL		826.708	688.898	683.707
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		282.005	108.283	82.219
Capital work-in-progress		20.257	172.918	4.479
INVESTMENT		15.990	25.625	6.856
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	557.374	524.141	1148.942
	Sundry Debtors	168.284	308.263	158.036
	Cash & Bank Balances	784.174	753.579	580.943
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	102.506	253.803	118.839
Total Current Assets		1612.338	1839.786	2006.760
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1041.236	1402.902	1381.908
	Other Current Liabilities	33.682	43.839	21.503
	Provisions	30.850	13.150	14.570
Total Current Liabilities		1105.768	1459.891	1417.981
Net Current Assets		506.570	379.895	588.779
MISCELLANEOUS EXPENSES		1.886	2.177	1.374
TOTAL		826.708	688.898	683.707

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	5023.780	5431.650	4259.397
		Other Income	133.816	133.858	43.663
		TOTAL (A)	5157.596	5565.508	4303.060
Less	EXPENSES
		Increase/ Decrease in Stock	(16.053)	30.435	(72.323)
		Purchases	432.955	311.931	895.398
		Compounding fees	0.000	0.000	53.774
		Raw Material Consumed	4204.702	4579.126	3025.137
		Manufacturing Expenses	326.602	282.326	276.159
		Administrative and Other Expenses	56.599	283.573	49.753
		Loss on Sale of Fixed Assets	0.000	0.000	0.064
		Exceptional Items	0.560	0.206	0.000
		TOTAL (B)	5005.365	5487.597	4227.962
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		152.231	77.911	75.098
Less	FINANCIAL EXPENSES (D)		32.858	55.611	37.458
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		119.373	22.300	37.640
Less/ Add	DEPRECIATION/ AMORTISATION (F)		20.770	10.463	9.460
	PROFIT BEFORE TAX (E-F) (G)		98.603	11.837	28.180
Less	TAX (H)		34.037	4.121	9.979
	PROFIT AFTER TAX (G-H) (I)		64.566	7.716	18.201
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		51.941	44.225	26.024
	BALANCE CARRIED TO THE B/S		116.507	51.941	44.225
	IMPORTS
		Raw Materials	2203.298	2331.591	0.000
		Trading Purchases	430.001	258.582	0.000
	TOTAL IMPORTS		2633.299	2590.173	0.000
	Earnings Per Share (Rs.)		3.99	0.48	1.25

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.25	0.14	0.42
Net Profit Margin (PBT/Sales)	(%)	1.96	0.22	0.66
Return on Total Assets (PBT/Total Assets}	(%)	5.21	0.61	1.35
Return on Investment (ROI) (PBT/Networth)		0.17	0.02	0.08
Debt Equity Ratio (Total Liability/Networth)		2.29	3.29	5.27
Current Ratio (Current Asset/Current Liability)		1.45	1.26	1.41

LOCAL AGENCY FURTHER INFORMATION

FORM 8

Corporate identity number of the company	U15141WB1984PLC096678
Name of the company	MANTORA OIL PRODUCTS LIMITED
Address of the registered office or of the principal place of business in India of the company	16 Tara Chand Dutta Street, Kolkata – 700073, West Bengal, India Email Id : rajivfcs@gmail.com
This form is for	Creation of charge
Type of charge	Others
Particular of charge holder	Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India Email Id : DelhiCADMidoffice@YESBANK.IN
Nature of instrument creating charge	Deed of Hypothecation dated March 15, 2011
Date of instrument Creating the charge	15.03.2011
Amount secured by the charge	Rs.300.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest LC/BC – To be decided by the lender SG – INR 1000/- per guarantee (all inclusive) plus applicable taxes Terms of repayment Letter of Credit(LC)/ Buyers Credit (BC)/ Shipping Guarantee (SG) – NA Margin LC/ SG: 110% of the facility amount in the form of Fixed Deposit Receipt duly lien marked in favour of Yes Bank Limited BC: 100% of the facility amount in the form of Fixed Deposit Receipt duly lien marked in favour of Yes Bank Limited Extent and operation of the charge Exclusive charge on the Fixed Deposit Receipt NO.000340600090959 with Yes Bank Limited Others Nil
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive charge on all the rights, interest, benefit, claims and demands whatsoever of the borrower in respect of FDR No. 000340600090959, all interest thereon and any other sum due on the FDR

FIXED ASSETS

· Land and Site Development

· Factory Building

· Plant and Machinery

· Electrical Installation

· Office Machinery

· Xerox Machine

· Computers

· Air Conditioners

· Vehicles

· Furniture and Fixtures

· Typewriter

WEB SITE DETAILS

GROUP PROFILE

KANPUR is an industrial city. Earlier it was known as `Manchester'. Today it is known for Leather Industry, Pan Masala Industry and Chemical Industry. It has also got fame for Refinery and Vanaspati Industry. At present, Kanpur is the biggest importer of Crude oils in Asia and has become a big market for refined
edible oil and vegetable ghee. HBIT, a premium institute, engaged in imparting education on Oil Technology is also situated at Kanpur.

The Mantora group is also based at Kanpur. It has installed its first plant in the year 1987 in Rania which is industrially backward area but is suitably located at Kalpi Road, National Highway. There is no infrastructural problem like labour and transport facilities in Rania.

BRIEF HISTORY

The Company is a closely held Limited Company, has been incorporated on 17th Day of May 1984 with the object to set-up plant for process, extract, refine all kinds of Vegetable Oils, Vanaspati Ghee and other edible oils. The Commercial activities of the Company starts in June 1987 when it has launched its Refined Vegetable Oil with the brand name `BAWARCHI'. In the first year of its introduction the Product captured a very good market and the Company have achieved a turn-over of Rs.221.800 Millions with a working capital of Rs.1.663 Millions.

Since then the Company has always booked growth in turnover and profits. In 1991-92 the Company achieved a turn-over of Rs. 6800 Lacs. In the year 1995 the Company has diversified and have installed its Vegetable Ghee Plant in the same premises. The New Product has thrown out almost all brands from Kanpur and surroundings areas. The brand `BAWARCHI' is famous in housewives, caterers and small food shops for its quality. The image of the brand is like `NAME IS ENOUGH'.

In December 1995 the promoters of the Company thought for the backward integration i.e. to install Solvent Extraction Plant and Refinery and to achieve this purpose a Public Company namely `M/S MANTORA AGRO INDUSTRIES LIMITED' have been incorporated on 22nd December 1995 with the object to carry on the business as manufacturers, processors, dealers, refiners, extractors of oil whether edible or non-edible by mechanical, electrical and chemical means, from all or any of the oil producing things and commodities, including Ricebran Oil, all types of oil cakes and all kinds of oil bearing seeds and nuts and all kind of synthetic chemicals or formulations and also to do business as manufacturer and dealers of vanaspati, ghee, curd and other such products. The products of the company i.e. Refined Vegetable Oil is being sold in the brand name of `BAWARCHI'.

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.49.87
UK Pound	1	Rs.79.73
Euro	1	Rs.69.53

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

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.