MIRA INFORM REPORT

Report Date :

19.04.2012

IDENTIFICATION DETAILS

Name :	OM INDIA TRADING COMPANY PRIVATE LIMITED (w.e.f. 12.3.2010) INDIA TRADING COMPANY MERGED WITH OM INDIA TRADING COMPANY PRIVATE LIMITED

Formerly Known As :	ASSAM GINNING AND INDUSTRIES PRIVATE LIMITED

Registered Office :	East Market, Karimganj Bazar, Karimganj – 788710, Assam

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	19.08.1975

Com. Reg. No.:	55-001628

Capital Investment / Paid-up Capital :	Rs.72.471 Millions

CIN No.: [Company Identification No.]	U01405AS1975PTC001628

PAN No.: [Permanent Account No.]	AACCA7130Q

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Exporter of Agricultural Based Products.

No. of Employees :	150(Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 1000000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject was established as a partnership concern in the year 1993 name as “India Trading Company’. And it has merged with OM INDIA TRADING COMPANY PRIVATE LIMITED in April 2011 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

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. Sandeep Bhura
Designation :	Director
Contact No.:	91-9810391181
Date :	13.04.2012

LOCATIONS

Registered Office :	East Market, Karimganj Bazar, Karimganj – 788710, Assam, India
Tel. No.:	91-11-43720000
Mobile No.:	91-9810391181 (Mr. Sandeep Bhura)
Fax No.:	91-11-23730173
E-Mail :	accounts@seeds-grains.com info@indiatradingco.com
Website :	http://www.indiatradingco.com
Location :	Owned

Factory :	1004, Nirmal Towers, Barakhamba Road, New Delhi – 110 001, India

DIRECTORS

As on 08.09.2011

Name :

Mr. Sandeep Kumar Bhura

Designation :

Director

Address :

C-201, Anand Vihar, Delhi -110092, India.

Date of Birth/Age :

03.02.1980

Qualification :

Graduate

Date of Appointment :

28.02.2001

DIN No.:

01476968

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	U01405AS1975PTC001628	OM INDIA TRADING COMPANY PRIVATE LIMITED	Director	28/02/2001	28/02/2001	-	Active	NO
2	U15317DL2006PTC145990	AYAM FOODS PRIVATE LIMITED	Director	7/2/2006	7/2/2006	-	Active	NO
3	U70109DL2008PTC177231	AAA REALTORS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO

Name :

Mr. Sanjay Kumar Bhura

Designation :

Director

Address :

C-201, Anand Vihar, Delhi -110092, India.

Date of Birth/Age :

02.09.1971

Qualification :

Graduate

Date of Appointment :

28.02.2001

DIN No.:

00097782

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	U01405AS1975PTC001628	OM INDIA TRADING COMPANY PRIVATE LIMITED	Director	28/02/2001	28/02/2001	-	Active	NO
2	U15317DL2006PTC145990	AYAM FOODS PRIVATE LIMITED	Director	7/2/2006	7/2/2006	-	Active	NO
3	U70109DL2008PTC177231	AAA REALTORS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 08.09.2011

Names of Shareholders		No. of Shares
Keshri Chand Bhura		86120
Nirmal Kumar Bhura		8000
Manik Chand Surana		51000
Banshi Lal Bothra		2500
Rajendra Kumar Bhura		90850
Sanjay Kumar Bhura		1775030
Sandeep Kumar Bhura		1356100
Bimala Devi Bhura		118850
Peush Kumar Bhura		100
Tolaram Anchalia		5000
Sanjay Kumar Bhura and Sons, India		36650
Jai Chand Lal Bothra		5000
Namita Bhura		335000
K.C.Bhura and Sons, India		32300
Namita Family Trust		1490000
Arushi Family Trust		1614000
Build Con Finance Limited, India		128125
Lahoti Plastic Moulders (Private) Limited, India		34375
Stepan Commotrade (Private) Limited, India		78125
Total		7247125

As on 08.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	3.32
Directors or relatives of Directors	69.61
Others	0.07
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Agricultural Based Products.

Products :

Ø Cotton : Cotton Yarn and Cotton Fibre

Ø Oil Seeds : Natural Sesame Seeds, Hulled Sesame Seeds, Peanuts, Sunflower Seeds, Soyabean, Castor Seeds, Mustard Seeds and Cashew Nut

Ø Peas/Lentils/Pulses : Kabuli Chick Peas, Desi Chick Peas, Red Split Lentils, Red Kidney Beans, Moong Beans, Black Matpe and Gram Dal (Chana Dal)

Ø Edible Oil/Industrial Oil : Groundnut Oil, Castor Oil and Linseed Oil

Ø Grains/Cereals : Long Grain White Rice, Parboiled Rice, Sugar, Wheat, Maize, Corn and Guar Gum

Ø Bird Feed/Animal Fodder : Niger Seeds, Sorghum, Millets, Soyabean Meal, Rapeseed Meal, Groundnut Meal, Sesame Meal, Cake and Castor Seed Meal

Ø Spices : Black Pepper, Cumin Seeds, Coriander Seeds, Fennel Seeds, Fenugreek Seeds, Turmeric and Red Chillies

Ø Other Products: Sesbania Seeds, Cassia Torea Seeds, Sun Hemp Seeds, Basil Seeds, Onion Seeds, Barley, Dry Fruits, Paper, Garlic and Onion.

Description of product or services	ITC Code
wholesale of agricultural raw materials - raw cotton	51219
Wholesale of oilseed	51217

Exports :

Products :

Agricultural Based Pro

Countries :

Japan
Australia
Italy
UK
Egypt
Malaysia
South Koreal
Dining USA
Mexico
Brazil
Algeria
UAE

Terms :

Selling :

L/C / CAD

Purchasing :

L/C / CAD

PRODUCTION STATUS (As On 31.03.2010)

Particulars	Unit	Actual Production
Cotton	Qtl	339.050
Cotton Seeds	Qtl	510.580

GENERAL INFORMATION

Customers :

Wholesalers and End Users

No. of Employees :

150 (Approximately)

Bankers :

State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi - 110001, Delhi, India

Facilities :

(Rs. In Millions)

Secured Loan

As on

31.03.2011

As on

31.03.2010

Working capital loans secured

534.721

656.774

Total

534.721

656.774


Banking Relations :	--

Auditors :
Name :	Narender Nath and Company Chartered Accountants
Address :	9036/1, Multani Dhanda, Paharganj, New Delhi, India
PAN.:	AAFPN8965L

Associates:	Keshri Chand Bhura and Company Seeds and Grains India Private Limited

Subsidiaries :	Aaa Realtors Private Limited (CIN No.: U70109DL2008PTC177231) Ayam Foods Private Limited (CIN No.: U15317DL2006PTC145990)

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

7247125	Equity Shares	Rs.10/- each	Rs.72.471 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		72.471	70.065	70.065
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		191.798	137.081	122.226
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		264.269	207.146	192.291
LOAN FUNDS
1] Secured Loans		534.721	656.774	738.954
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		534.721	656.774	738.954
DEFERRED TAX LIABILITIES		0.003	0.080	0.119

TOTAL		798.993	864.000	931.364

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		55.723	4.057	5.247
Capital work-in-progress		0.267	0.000	0.000

INVESTMENT		15.410	15.310	15.310
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	498.979	596.334	428.896
	Sundry Debtors	105.929	250.273	333.297
	Cash & Bank Balances	104.804	95.505	168.217
	Other Current Assets	95.868	77.738	0.000
	Loans & Advances	33.254	35.254	83.725
Total Current Assets		838.834	1055.104	1014.135
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	71.140	34.080	48.067
	Other Current Liabilities	31.023	168.340	54.715
	Provisions	9.223	8.235	0.768
Total Current Liabilities		111.386	210.655	103.550
Net Current Assets		727.448	844.449	910.585

MISCELLANEOUS EXPENSES		0.145	0.184	0.222

TOTAL		798.993	864.000	931.364

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	3400.869	2920.661	2554.546
		Other Income	12.607	11.866	11.904
		TOTAL (A)	3413.476	2932.527	2566.450

Less	EXPENSES
		Material and Operating Expenses		2811.945	2409.106
		Sales and Administrative Expenses		36.809	51.840
		Loss/(Profit) on Forward Booking		0.404	29.105
		Director Remuneration		2.600	2.400
		TOTAL (B)	(3384.159 Including Financial Expenses)	2851.758	2492.451

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			80.769	73.999

Less	FINANCIAL EXPENSES (D)			56.410	70.746

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		29.317	24.359	3.253

Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.923	1.308	1.378

	PROFIT BEFORE TAX (E-F) (G)		28.394	23.051	1.875

Less	TAX (I)		9.146	8.196	0.853

	PROFIT AFTER TAX (G-I) (J)		19.248	14.855	1.022

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		64.080	49.226	48.935

Less	APPROPRIATIONS
		Income Tax Adjusted	0.000	0.000	0.731
	BALANCE CARRIED TO THE B/S		83.329	64.080	49.226

	Earnings Per Share (Rs.)		2.66	--	--

Particulars

31.03.2012

Sales Turnover (Approximately)

4000.000

The above information has been parted by Mr. Sandeep Bhura

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.56	0.51	0.04

Net Profit Margin (PBT/Sales)	(%)	0.83	0.79	0.07

Return on Total Assets (PBT/Total Assets}	(%)	3.17	2.17	0.18

Return on Investment (ROI) (PBT/Networth)		0.11	0.11	0.10

Debt Equity Ratio (Total Liability/Networth)		2.44	4.19	4.38

Current Ratio (Current Asset/Current Liability)		7.53	5.01	9.79

LOCAL AGENCY FURTHER INFORMATION

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	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last two years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
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	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

CONTINGENT LIABILITIES

Rs In Millions

Particulars	31.03.2011	31.03.2010
Outstanding Letter of Credit & Bank Guarantee	20.464	6.004

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U17111AS1975PTC001628
Name of the company	OM INDIA TRADING COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	East Market, Karimganj Bazar, Karimganj – 788710, Assam, India cannjindal@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10032564
Type of charge	Immovable property Any interest in immovable property Book debts Movable property (not being pledge)
Particular of charge holder	State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi - 110001, Delhi, India Sushil.k.kumar@sbi.co.in
Nature of instrument creating charge	i) Agreement of Loan for Overall Limit ii) Agreement of Hypothecation of Goods and Assets iii) Letter regarding the grant of individual limits within the Overall Limit iv) Confirmatory Letter regarding deposit of Title Deeds
Date of instrument Creating the charge	06.07.2010
Amount secured by the charge	Rs.1240.100 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest EPC (upto 270 days) / FBP/FBD (Non LC) (Usance Bills)- 3.00% below SBAR (11.75%) i.e. 8.75% p.a., Commission on BG/LC-As per bank guidelines. Terms of Repayment Payable on demand. Margin Raw Materials / Stocks-in-Process / Finished goods - 20%. Cash Margin in case of LC/BG -10% Extent and Operation of the charge i) The charge operates till the repayment of all the dues together with interest and all other charges in respect of credit facilities availed / to be availed by the company from the bank. ii) Other terms and conditions as per Arrangement Letter No. SBI/OBND/RM-III/2010-11/99 dated 04.06.2010. Others The above is to secure working capital facilities provided by the Bank to the company for its unit : India Trading Company i.e. EPC - Rs.330.000 Millions, FBP/FBD (Non LC) - Rs.220.00 Millions, Advance against Export Bills sent in Collection - (Rs.50.000 Millions), Advance to Suppliers -(Rs.50.000 Millions), SLC - Rs. 110.00 Millions, BG - Rs.30.000 Millions, LC# - Rs.30.000 Millions), FBP (under LC) - Rs.500.000 Millions, Forward Contract / Derivative - Rs.50.100 Millions, totaling Rs.1240.100 Millions # within BG limit. ** within EPC limit.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	i) First charge by way of hypothecation of the company's entire goods, movables and other assets including documents of title to goods and other assets such as book-debts, outstanding moneys, receivables, claims, bills, invoices, documents, contracts, engagements, securities, investments and rights and all machinery, present and future. ii) First charge over entire fixed assets of the company comprising land, building, plant and machinery and other fixed assets, both present and future including equitable mortgage of immovable properties of the company
Date of instrument modifying the charge	05.11.2009
Particulars of the present modification	i) The extent and operation of the charge stands enhanced due to increase in working capital facilities from Rs.950.000 Millions to Rs. 1240.100 Millions. The modified credit facilities together with interest and all other charges, are/shall continue to be secured by 1st charge on Current as well as Fixed Assets incl. EM of immovable properties of the company

Fixed Assets

Land
Building
Pant and Machinery
Computer Equipments
Furniture and Fixtures
Vehicles

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 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.51.50
UK Pound	1	Rs.81.99
Euro	1	Rs.67.54

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
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	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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

498.979

105.929

104.804

95.868

33.254

838.834

71.140

31.023

9.223

111.386

727.448

0.56

0.83

3.17

0.11

2.44

7.53

Unit