MIRA INFORM REPORT

Report Date :

30.04.2012

IDENTIFICATION DETAILS

Name :	RIKHABCHAND SOHANLALL LIMITED
Registered Office :	41, Chowringhee Road, Kolkata-700071, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.12.1989
Com. Reg. No.:	21-048036
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U17125WB1989PLC048036
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Real Estate and Consignment Agency of Century Cement.
No. of Employees :	Not Available

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 170000
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 :	41, Chowringhee Road, Kolkata-700071, West Bengal, India
Tel. No.:	91-33-22881157/1697
Fax No.:	91-33-22883850
E-Mail :	stc2_dugar@reliancemail.net rsldugar@reliancemail.net

DIRECTORS

As on 30.09.2011

Name :

Mr. Vinod Kumar Dugar

Designation :

Director

Address :

32A, New Road,, Alipore, Kolkata-700027, West Bengal, India

Date of Birth/Age :

16.04.1955

Date of Appointment :

20.12.1989

Din No.:

00558896

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	L65993WB1977PLC031201	MERIT INVESTMENT LIMITED	Director	17-04-78	17-04-78	Active	NO
2	U25201WB1983PTC037000	KANAK PACKAGING PRODUCTS PRIVATE LIMITED	Director	09-12-83	09-12-83	Active	NO
3	U24121AS1986PLC002529	VIVEK FERTILIZERS LIMITED	Director	08-05-86	08-05-86	Active	NO
4	U70101WB1986PTC041309	LENIN SARANI PROPERTIES PRIVATE LIMITED	Director	22-09-86	22-09-86	Active	NO
5	U28129WB1989PTC047790	KANAK PACKAGING PRODUCTS (CALCUTTA) PRIVATE LIMITED	Director	02-11-89	02-11-89	Active	NO
6	U17125WB1989PLC048036	RIKHABCHAND SOHANLALL LIMITED	Director	20-12-89	20-12-89	Active	NO
7	U51909WB1990PTC050230	VKD ENTERPRISES PRIVATE LIMITED	Director	26-11-90	26-11-90	Active	NO
8	U92114WB1993PLC060406	DUGAR PHOTOFILMS LIMITED	Director	11-10-93	11-10-93	Active	NO
9	U17232WB1989PLC047801	TEJPUR VANIJYA (CAL) LIMITED	Director	01-09-95	01-09-95	Strike off	NO
10	L65993WB1981PLC033369	TEJPUR VANIJYA LIMITED	Director	01-09-95	01-09-95	Active	NO
11	U17232WB1989PLC047800	DARSHANLAL EXPORTS (CALCUTTA) LIMITED	Director	17-05-99	17-05-99	Active	NO
12	L01132KL1923PLC000415	HAILEYBURIA TEA ESTATES LIMITED	Director	26-11-99	26-11-99	Active	NO
13	U74899DL2000PLC105953	TETENAL INDIA LIMITED	Director	29-05-00	29-05-00	Active	NO
14	U24112WB1992PTC054277	PHOTO CHEMICAL (EASTERN) PRIVATE LIMITED	Director	07-07-04	07-07-04	Active	NO
15	U70101WB2005PTC106806	ALIPORE ESTATE PRIVATE LIMITED	Director	22-12-05	22-12-05	Active	NO
16	U70101WB1955PLC022345	ALIPORE ESTATES LIMITED	Director	22-12-05	22-12-05	Under liquidation	NO

Name :

Mr. Santosh Shyamsukha

Designation :

Director

Address :

12B, Lord Sinha Road, Kolkata-700071, West Bengal, India

Date of Birth/Age :

05.10.1952

Date of Appointment :

10.10.2010

Din No.:

00559236

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	U65993WB1996PTC080402	MEGACITY VINIYOG PRIVATE LIMITED	Director	09-07-96	09-07-96	Active	NO
2	U70109WB1960PTC024729	MEHTA SURAYA PRIVATE LIMITED	Director	01-04-97	01-04-97	Active	NO
3	L51109WB1982PLC035484	SULABH VANIJYA LIMITED	Director	11-08-98	11-08-98	Active	NO
4	L15142WB1983PLC036019	KUSUM LIMITED	Director	11-08-98	11-08-98	Active	NO
5	U17125WB1989PLC048036	RIKHABCHAND SOHANLALL LIMITED	Director	10-10-10	10-10-10	Active	NO

Name :

Mr. Vivek Dugar

Designation :

Director

Address :

32A, New Road,, Alipore, Kolkata-700027, West Bengal, India

Date of Birth/Age :

14.02.1985

Date of Appointment :

01.04.2010

Din No.:

02302459

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	U24121AS1986PLC002529	VIVEK FERTILIZERS LIMITED	Director	19-07-08	19-07-08	Active	NO
2	L51109WB1983PLC035845	CENTAX (INDIA) LIMITED	Director	07-09-08	07-09-08	Active	NO
3	U17232WB1989PLC047800	DARSHANLAL EXPORTS (CALCUTTA) LIMITED	Director	29-09-08	25-09-08	Active	NO
4	L15142WB1983PLC036019	KUSUM LIMITED	Director	30-09-09	11-05-09	Active	NO
5	U17125WB1975PLC030122	SHYAM BURLAP COMPANY LIMITED	Director	30-09-09	11-05-09	Active	NO
6	L65993WB1981PLC033369	TEJPUR VANIJYA LIMITED	Director	30-09-10	01-04-10	Active	NO
7	U17125WB1989PLC048036	RIKHABCHAND SOHANLALL LIMITED	Director	01-04-10	01-04-10	Active	NO
8	U70101WB2005PTC106806	ALIPORE ESTATE PRIVATE LIMITED	Director	31-07-10	31-07-10	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Vinod Kumar Dugar	3000
Ashok Kumar Dugar	3000
Pramod Kumar Dugar	3000
Jagat Singh Banthia	300
Nand Kishore Sharma	300
Jayprakash Narajn Dwivedi	200
Shyam Burlap Company Limited, India	30000
Merit Investments Limited, India	27500
Tejpur Vanijya Limited, India	15000
Mehta Suraya Private Limited, India	17500
Kanak Packaging Products Private Limited, India	200
Total	100000

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	90.20
Directors or relatives of directors	9.00
Other	0.80
Total	100.00

BUSINESS DETAILS

Line of Business :

Real Estate and Consignment Agency of Century Cement.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Canara Bank, Chowringhee Branch, 7, KYD Street, Kolkata-700016, West Bengal, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Car loan from ICICI Bank [Secured against vehicle financed by them repayable due within next 12 months Rs.0.116 million]	0.000	0.116
Total	0.000	0.116

Banking Relations :	--
Auditors :
Name :	R. Kothari and Company Chartered Accountants
Address :	16A, Shakespeare Sarani, Kolkata-700071, West Bengal, India
Tel. No.:	91-33-22826776/6809/6807
Fax No.:	91-33-22825921
E-Mail :	Kolkata@rkothari.in
Website:	http://www.rkothari.in
Pan No.:	AAFFR7366B

CAPITAL STRUCTURE

As on 31.03.2011

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
100000	Equity Shares	Rs.10/- each	Rs.1.000 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		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		42.894	39.981	37.447
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		43.894	40.981	38.447
LOAN FUNDS
1] Secured Loans		0.000	0.116	0.440
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.116	0.440
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		43.894	41.097	38.887
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.751	7.481	7.780
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		13.984	13.984	12.579
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	35.457	35.439	10.363
	Cash & Bank Balances	0.375	0.716	0.531
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	46.436	41.304	45.028
Total Current Assets		82.268	77.459	55.922
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	39.183	45.837	23.437
	Other Current Liabilities	17.001	9.416	10.058
	Provisions	3.925	2.574	3.915
Total Current Liabilities		60.109	57.827	37.410
Net Current Assets		22.159	19.632	18.515
MISCELLANEOUS EXPENSES		0.000	0.000	0.016
TOTAL		43.894	41.097	38.887

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	188.769	185.047	112.304
		Other Income	13.076	8.277	8.625
		TOTAL	201.845	193.324	120.929
Less	EXPENSES
		Purchase of Cement	186.447	182.870	110.781
		Expenses	10.863	5.897	5.642
		TOTAL	197.310	188.767	116.423
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		4.535	4.557	4.496
Less/ Add	DEPRECIATION/ AMORTISATION		0.272	0.299	0.404
	PROFIT / (LOSS) BEFORE TAX		4.263	4.258	4.092
Less	TAX		1.350	1.350	1.306
	PROFIT / (LOSS) AFTER TAX		2.913	2.908	2.786
Add/ Less	TAXATION FOR EARLIER YEAR		0.000	0.374	0.082
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		26.881	24.347	21.479
	BALANCE CARRIED TO THE B/S		29.794	26.881	24.347
	Earnings / (Loss) Per Share (Rs.)		29.13	29.08	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.44	1.50	2.30
Net Profit Margin (PBT/Sales)	(%)	2.26	2.30	3.64
Return on Total Assets (PBT/Total Assets}	(%)	4.74	5.01	6.42
Return on Investment (ROI) (PBT/Networth)		0.10	0.10	0.11
Debt Equity Ratio (Total Liability/Networth)		1.37	1.41	0.98
Current Ratio (Current Asset/Current Liability)		1.37	1.34	1.49

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	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three 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	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	--
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

FINANCIAL RESULTS:

During the period, the company had incurred a profit of Rs.4.263 millions.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U17125WB1989PLC048036
Name of the company	RIKHABCHAND SOHANLALL LTD
Address of the registered office or of the principal place of business in India of the company	41, Chowringhee Road, Kolkata-700071, West Bengal, India
Type of charge	Book Debts Movable Property [not being pledge]
Particular of charge holder	Canara Bank, Chowringhee Branch, 7, KYD Street, Kolkata-700016, West Bengal, India
Email	cb0145@canarabank.com
Nature of description of the instrument creating or modifying the charge	Cash Credit Agreement (NF 795) dated 12.09.2011 Agreement Re: Advances against Book debts as Prime Security (NF 450) dated 12.09.2011 Agreement for opening Inland Irrevocable Letter of Credit (NF 447) dated 12.09.2011 Pronote (NF 480) dated 12.09.2011 Board Resolution dated 15.02.2011
Date of instrument Creating the charge	12.09.2011
Amount secured by the charge	Rs.80.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest OCC: - Base Rate + 5.00% p.a. with monthly rests. ILC/FLC (DA/DP) Commission - Usual. Terms of Repayment Repayable on demand for working capital facilities. Margin OCC - 25% on Stock and 40% on Book debts. ILC/FLC(DA/DP) - 25% Extent and Operation of the charge The charge shall operate as first charge on all the current assets. To the extent of the overall limit of Rs. 80.000 Millions [OCC - Rs. 20.000 Millions + ILC/FLC (DA/DP) - Rs. 60.000 Millions] excluding interest, commission and other charges. The charge will operate till the limit enjoyed by the borrower company is fully repaid.
Short particulars of the property charged	Hypothecation by way of first charge on the entire current assets viz. stocks of paper, Agro Chemicals Pluses, Photographic Chemicals, Bitumen etc. including raw materials, WIP, semi Finished and finished goods, stores and spares etc. and entire receivables of the Company, both present and future.

FIXED ASSETS:

· Gas Cylinders

· Land

· Building

· Furniture and Fixtures

· Motor Vehicles

· Air Conditioner

· Computer

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.52.68
UK Pound	1	Rs.85.12
Euro	1	Rs.69.38

INFORMATION DETAILS

Report Prepared by :

TPT

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	5
--CREDIT LINES	1~10	4
--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		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.