MIRA INFORM REPORT

Report Date :

02.04.2012

IDENTIFICATION DETAILS

Name :	PEST MORTEM (INDIA) PRIVATE LIMITED
Registered Office :	G/2, Sunder Tower, Tokersijeeuraj Road Sewree (West), Mumbai – 400015, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	25.10.1980
Com. Reg. No.:	11-023338
Capital Investment / Paid-up Capital :	Rs.0.920 Million
CIN No.: [Company Identification No.]	U24211MH1980PTC023338
Legal Form :	Private Limited Liability Company
Line of Business :	To carry on the business of pest control services, as entomologies, agricultural technologies, as storage advisors, as fumigators, exterminators, estate spraying and plant protection work.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 130000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are 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. The Profit and Loss Account of the company is not available

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/ Head Office :	G/2, Sunder Tower, Tokersijeeuraj Road Sewree (West), Mumbai – 400015, Maharashtra, India
Tel. No.:	91-22-24147425 / 24127935/ 2411976/ 24155248/ 24163422
Fax No.:	91-22-24111976
E-Mail :	pestmort@bom3.vsnl.net.in jessyindia@rediffmail.com
Website :	http://www.pestmortem.com
Branch Offices :	Located at: · Jamnagar · Gandhidham/ Kandla · New Delhi · Kakinada · Chennai · Visakhapatnam · Nagpur · Indore · Bhavnagar · Navi Mumbai · Ahmedabad · Rajkot · Lucknow

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Jayaram Paddu Shetty

Designation :

Director

Address :

Shankar Bhavan Premises, CHS Fkat No. 10, 1^st Floor, 11 Road, Chembur, Mumbai – 400071, Maharashtra, India

Date of Birth/Age :

24.07.1947

Date of Appointment :

25.10.1980

DIN No.:

00385668

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	U24211MH1980PTC023338	PEST MORTEM (INDIA) PRIVATE LIMITED	Director	25/10/1980	25/10/1980	Active	NO
2	U74999MH1994PTC075937	RELIABLE PEST CONTROL PRIVATE LIMITED	Director	7/1/1994	7/1/1994	Active	NO
3	U55101MH2010PTC205311	JAYSHAM HOTELS PRIVATE LIMITED	Director	7/7/2010	7/7/2010	Active	NO

Name :

Mr. Vasanth Soovayanna Shetty

Designation :

Director

Address :

Rozy Rock, Apartment F-6, Near, Panchavati Petrol, Jamnagar-361001, Gujarat, India

Date of Birth/Age :

19.04.1958

Date of Appointment :

25.10.1980

DIN No.:

00409159

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	U24211MH1980PTC023338	PEST MORTEM (INDIA) PRIVATE LIMITED	Director	25/10/1980	25/10/1980	Active	NO
2	U74999MH1994PTC075937	RELIABLE PEST CONTROL PRIVATE LIMITED	Director	7/1/1994	7/1/1994	Active	NO

Name :

Mr. Vinoda J. Shetty

Designation :

Director

Address :

Shankar Bhavan Premises, CHS Fkat No. 10, 1^st Floor, 11 Road, Chembur, Mumbai – 400071, Maharashtra, India

Date of Birth/Age :

22.09.1954

Date of Appointment :

18.04.1984

DIN No.:

00385826

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	U24211MH1980PTC023338	PEST MORTEM (INDIA) PRIVATE LIMITED	Director	18/04/1984	18/04/1984	Active	NO
2	U74999MH1994PTC075937	RELIABLE PEST CONTROL PRIVATE LIMITED	Director	7/1/1994	7/1/1994	Active	NO

Name :

Mr. Vishal Jayaram Shetty

Designation :

Additional Director

Address :

Shankar Bhavan, CHS Flat No. 10 and 11, 11 Road, Chembur (East), Mumbai – 400071, Maharashtra, India

Date of Birth/Age :

19.07.1985

Date of Appointment :

23.10.2010

DIN No.:

03303918

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Jayaram Shetty	1560
Vinoda Shetty	230
Vidhya Shetty Jointly with Jayaram Shetty	550
Vasanth Shetty	1180
Suryanna Shetty	60
Giriraj S. Shetty	60
Sundar P. Shetty	60
Jayaram P. Shetty	1000
Vinod J. Shetty Jointly with Jayaram Shetty	1000
Suryanna L. Shetty Jointly withVinod J. Shetty	500
Giriraj S. Shetty Jointly with Vinod J. Shetty	500
Sundar P. Shetty Jointly with Jayaram Shetty	500
Vishal J. Shetty Jointly with Jayaram Shetty	1000
Vijeta Shetty Jointly with Jayaram Shetty	500
Pratibha V. Shetty Jointly with Vasant Shetty	500
Total	9200

(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 :

To carry on the business of pest control services, as entomologies, agricultural technologies, as storage advisors, as fumigators, exterminators, estate spraying and plant protection work.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India

· Syndicate Bank

· Vijaya Bank

· HDFC Bank

· Punjab National Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
ICICI Motor Car Loan (Secured against vehicles)	--	0.032
Vijaya Bank – Overdraft A/c (Secured Against Debtors and Stock)	4.592	4.444
Total	4.952	4.476
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Jayaram Shetty	0.400	0.205
Vinoda Shetty	0.300	0.295
J K Enterprises	2.000	1.052
Jevee International	--	0.268
Vijeta Shetty	--	0.023
Vidya Rai	--	0.083
Total	2.700	1.926

Banking Relations :	--
Auditors :
Name :	Shetty and Somani Chartered Accountant
Address :	506/507, Sai Chambers, Near Railway Station, Santacruz (East), Mumbai – 400055, Maharashtra, India
Tel No.:	91-22-61585960 to 69
Fax No.:	91-22-61585970
PAN No.:	ABAPS7971F
Email :	irshetty@rediffmail.com ir_shetty1@yahoo.co.in

CAPITAL STRUCTURE

(AS ON 30.09.2011)

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
9200	Equity Shares	Rs.100/- each	Rs.0.920 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		0.920	0.920	0.920
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		31.243	25.881	22.684
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		32.163	26.801	23.604
LOAN FUNDS
1] Secured Loans		4.952	4.476	1.898
2] Unsecured Loans		2.700	1.926	0.643
TOTAL BORROWING		7.652	6.402	2.541
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		39.815	33.203	26.145
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.570	6.327	6.639
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.119	0.119	0.119
DEFERREX TAX ASSETS		0.411	0.396	0.434
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.792	0.637	0.218
	Sundry Debtors	41.572	20.665	15.843
	Cash & Bank Balances	9.833	9.222	10.174
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	13.614	15.687	16.215
Total Current Assets		65.811	46.211	42.450
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	24.607	13.472	14.848
	Other Current Liabilities	3.023	0.320	0.000
	Provisions	4.466	6.058	8.650
Total Current Liabilities		32.096	19.850	23.498
Net Current Assets		33.715	26.361	18.952
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		39.815	33.203	26.145

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	1.24	0.98	1.10
Current Ratio (Current Asset/Current Liability)	2.05	2.33	1.81

LOCAL AGENCY FURTHER INFORMATION

FIXED ASSETS:

· Air Conditioner

· Air Cooler

· Electrical Equipment

· Fax Machine

· Fire Fighting Equipment

· Generator

· Mobiles

· Office Equipment

· Plant and Machinery

· Xerox Machine

· Computers

· Printers

· Scanner

· Electrical Fittings

· Furniture and Fixtures

· Invertors

· Television

· Activa

· Hero Honda

· Motor Cycle

· Swift LXI BS

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.51.16
UK Pound	1	Rs.81.80
Euro	1	Rs.68.34

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		48

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.