MIRA INFORM REPORT

Report Date :

29.09.2011

IDENTIFICATION DETAILS

Name :	AMJEY CHEM TRADE PRIVATE LIMITED

Registered Office :	1811/1812, Sheffield Towers Society, Lokhandwala Complex, Andheri – West, Mumbai – 400053, Maharasahtra

Country :	India

Financials (as on) :	31.03.2010

Date of Incorporation :	05.04.2007

Com. Reg. No.:	11-169676

Capital Investment / Paid-up Capital :	Rs. 1.250 Millions

CIN No.: [Company Identification No.]	U74999MH2007PTC169676

TAN No.: [Tax Deduction & Collection Account No.]	MUMA32595D / MUMA32595D

PAN No.: [Permanent Account No.]	AAGCA3637E

Legal Form :	Private Limited Liability Company

Line of Business :	Trader of Ammonium chloride , Hydro chloride etc.

No. of Employees :	Not Available

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 24000

Status :	Moderate

Payment Behaviour :	Slow

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. 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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

India

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

LOCATIONS

Registered Office :	1811/1812, Sheffield Towers Society, Lokhandwala Complex, Andheri – West, Mumbai – 400053, Maharasahtra
Tel. No.:	91-22-28258000/28258282
Mobile No.:	91-9892498720 (Mr. Manish Jhanwar)
E-Mail :	Psm_ca@yahoo.co.in amjeychemicals@vsnl.com prakashshrilal-ca@yahoo.com

Godown:	Plot No. 53, A,B and C, Jeedimetla, Qutbullapur, Jeedimetla, Hyderabad- 500055, R.R.Dist, India

DIRECTORS

As on 30.09.2010

Name :

Mr. Rajendra Prasad Jhanwar

Designation :

Director

Address :

1811/12, Sheffield Tower, 2^nd Cross Line, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharasahtra, India

Date of Birth/Age :

10.08.1958

Date of Appointment :

05.04.2007

DIN No.:

01718266

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	U24231WB1995PTC067296	AH CHEMICALS PRIVATE LIMITED	Director	18/01/1995	18/01/1995	-	Active	NO
2	L51109WB1982PLC035011	PH TRADING LIMITED	Director	05/05/1998	05/05/1998	-	Active	NO
3	U24119WB1997PTC084609	M.R.J. CHEMICALS PRIVATE LIMITED	Managing director	24/12/1999	24/12/1999	-	Active	YES
4	U51909MH2004PTC149274	SHUBH PANEL IMPEX PRIVATE LIMITED	Managing director	27/10/2004	27/10/2004	-	Active	NO
5	U74999MH2007PTC169676	AMJEY CHEM TRADE PRIVATE LIMITED	Director	05/04/2007	05/04/2007	-	Active	NO
6	U51909WB2004PTC099129	MANSAROVAR COMMODITIES PRIVATE LIMITED	Director	29/11/2008	29/11/2008	-	Active	YES
7	U51109WB2007PTC120006	SKETCH VYAPAAR PRIVATE LIMITED	Director	14/02/2011	14/02/2011	-	Active	NO

Name :

Mr. Ashok Kumar Rameshwarlal Jhanwar

Designation :

Managing Director

Address :

1811/12, Sheffield Tower, 2^nd Cross Line, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharasahtra, India

Date of Birth/Age :

30.04.1964

Date of Appointment :

05.04.2007

DIN No.:

01578623

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	L51109WB1982PLC035011	PH TRADING LIMITED	Director	03/03/1997	03/03/1997	-	Active	NO
2	U24231WB1995PTC067296	AH CHEMICALS PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
3	U51909MH2004PTC149274	SHUBH PANEL IMPEX PRIVATE LIMITED	Director	27/10/2004	27/10/2004	-	Active	NO
4	U74999MH2007PTC169676	AMJEY CHEM TRADE PRIVATE LIMITED	Managing director	05/04/2007	05/04/2007	-	Active	NO
5	U51909WB2004PTC099129	MANSAROVAR COMMODITIES PRIVATE LIMITED	Director	29/11/2008	29/11/2008	-	Active	YES
6	U51109WB2007PTC120006	SKETCH VYAPAAR PRIVATE LIMITED	Director	14/02/2011	14/02/2011	-	Active	NO

Name :

Mr. Rameshwarlal Mahal Chand Jhanwar

Designation :

Director

Address :

505, Poonam Vihar, C-4, Poonam Nagar, Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharasahtra, India

Date of Birth/Age :

12.08.1936

Date of Appointment :

05.04.2007

DIN No.:

01578397

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	U24119WB1997PTC084609	M.R.J. CHEMICALS PRIVATE LIMITED	Director	11/06/1997	11/06/1997	-	Active	YES
2	U74999MH2007PTC169676	AMJEY CHEM TRADE PRIVATE LIMITED	Director	05/04/2007	05/04/2007	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders		No. of Shares
Rajendra Prasad Janwar		13000
Ashok Kumar Jhanwar		13000
Rameshwar Lal Jhanwar		19000
Mubarak Hasolkar		40000
Antony Plastics Private Limited, India		20000
Singh Vahini Commodities Private Limited, India		20000
TOTAL		125000

Equity Share Break up (Percentage of Total Equity)

As on : 30.09.2010

Category	Percentage
Bodies corporate	32.00
Directors or relatives of Directors	36.00
Other top fifty shareholders	32.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Ammonium chloride , Hydro chloride etc.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Union Bank of India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Secured Loan	0.149	0.230
Total	0.149	0.230
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Unsecured Loan	12.583	0.870
Total	12.583	0.870


Banking Relations :

Auditors :
Name :	Prakash Madlecha Chartered Accountant
Address :	Office No.7, Shri Vikas Society, Golibar Road, Santacruz ( East), Mumbai- 400055, Maharasahtra, India
PAN.:	AAHPM5035E

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount

500000	Equity Shares	Rs.10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

125000	Equity Shares	Rs.10/- each	Rs. 1.250 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		1.250	1.250	5.850
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4.772	4.537	0.053
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		6.022	5.787	5.903
LOAN FUNDS
1] Secured Loans		0.149	0.230	0.000
2] Unsecured Loans		12.583	0.870	0.000
TOTAL BORROWING		12.732	1.100	0.000
DEFERRED TAX LIABILITIES

TOTAL		18.754	6.887	5.903

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		2.146	2.200	0.091
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	8.991	4.471	1.854
	Sundry Debtors	34.326	10.553	3.927
	Cash & Bank Balances	(0.901)	0.497	0.168
	Other Current Assets	0.153	0.061	0.000
	Loans & Advances	0.476	0.171	0.066
	Preliminery Expenses	0.099	0.109	0.122
Total Current Assets		43.144	15.862	6.137
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	23.851	11.045	0.211
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	2.685	0.130	0.114
Total Current Liabilities		26.536	11.175	0.325
Net Current Assets		16.608	4.687	5.812

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		18.754	6.887	5.903

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	89.356	24.918	3.626
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA

Less	EXPENSES , FINANCIAL EXP AND DEPRICIATION		NA	NA	NA

	PROFIT/LOSS BEFORE TAX (E-F)		0.385	(0.116)	0.088

Less	TAX		0.150	0.003	0.035

	PROFIT AFTER TAX		0.235	(0.113)	0.053

	Earnings Per Share (Rs.)		1.88	(0.90)	0.42

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Net Profit Margin (PBT/Sales)	(%)	0.43	(0.47)	2.43

Return on Total Assets (PBT/Total Assets}	(%)	0.85	(0.64)	1.41

Return on Investment (ROI) (PBT/Networth)		0.06	(0.02)	0.01

Debt Equity Ratio (Total Liability/Networth)		6.52	2.12	0.05

Current Ratio (Current Asset/Current Liability)		1.63	1.42	18.88

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS:

Company has achieved a turn over of Rs. 89.356 Millions. The director excepts substantial business and profit in the years to come

FIXED ASSETS:

Office Premises
Computer
Motor Car
Motor Bike
Furniture

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.48.91
UK Pound	1	Rs.76.53
Euro	1	Rs.66.43

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	2
--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		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.

MIRA INFORM REPORT

8.991

34.326

(0.901)

0.153

0.476

0.099

43.144

23.851

0.000

2.685

26.536

16.608

0.43

0.85

0.06

6.52

1.63

Unit