MIRA INFORM REPORT

Report Date :

20.01.2012

IDENTIFICATION DETAILS

Name :	ROVIN IMPEX PRIVATE LIMITED
Registered Office :	2 Jay Shiv Shanker Co-operative Housing Society Limited, Shivaji Park Road No. 5, Mahim, Mumbai – 400016, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	31.07.2008
Com. Reg. No.:	11-185272
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U74900MH2008PTC185272
TAN No.: [Tax Deduction & Collection Account No.]	MUMR23987F
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Processed Food Snacks, Non-Alcoholic Drinks, Pickles and Jams Ketchups, etc.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 11000
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. 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

INFORMATION PARTED BY

Name :	Mr. Nimesh Devchand Chheda
Designation :	Director
Contact No.:	91-9821220002

LOCATIONS

Registered Office :	2 Jay Shiv Shanker Co-operative Housing Society Limited, Shivaji Park Road No. 5, Mahim, Mumbai – 400016, Maharashtra, India
Tel. No.:	91-22-24460661
Mobile No.:	91-9821220002 (Mr. Nimesh Chheda)
Fax No.:	91-22-24461455
E-Mail :	nimesh@rovinimpex.com nimeshchheda@rediffmail.com
Website :	http://www.rovinimpex.com
Area :	500 sq. ft.
Location :	Owned
Warehouse 1:	Bhiwandi at Anjur Phata
Location :	Rented
Warehouse 2:	Vashi – Near Hyundai Car Showroom
Location :	Rented

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Shafi Yusuf Mohammed

Designation :

Director

Address :

C – 4, New Rising Sun Apartment. Juhu Church Road, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

13.06.1953

Qualification :

Graduate

Date of appointment :

31.07.2008

DIN No.:

01645162

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	U63040MH1979PLC021648	EAST WEST FREIGHT CARRIERS LIMITED	Director	05-09-79	05-09-79	-	Active	NO
2	U51900MH1993PTC074729	GLOW PHARMA PRIVATE LIMITED	Director	26-10-93	26-10-93	30-06-08	Active	NO
3	U63090MH2007PTC173007	EAST WEST LCL PRIVATE LIMITED	Director	10-08-07	10-08-07	-	Active	NO
4	U63090MH2007PTC173008	EAST WEST SUPPLY CHAIN PRIVATE LIMITED	Director	10-08-07	10-08-07	-	Active	NO
5	U74900MH2008PTC185272	ROVIN IMPEX PRIVATE LIMITED	Director	31-07-08	31-07-08	-	Active	NO
6	U13203MH2010PTC205826	MAXWELL MINES PRIVATE LIMITED	Director	22-07-10	22-07-10	-	Active	NO
7	U62200MH2010PTC208735	EMPIRE AVIATION PRIVATE LIMITED	Director	07-10-10	07-10-10	-	Active	NO
8	U60200MH2008PTC178761	TANDEM GLOBAL LOGISTICS (INDIA) PRIVATE LIMITED	Additional director	20-10-10	20-10-10	-	Active	NO

Name :

Mr. Vivek Girish Bhuta

Designation :

Director

Address :

12, Kasturi Apartment, Sanewadi, Aundh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

04.05.1973

Qualification :

Graduate

Date of appointment :

31.07.2008

DIN No.:

01323010

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	U27320PN1995PTC088948	VIVEK FERRO PRIVATE LIMITED	Director	15-06-07	15-06-07	Active	NO
2	U74900MH2008PTC185272	ROVIN IMPEX PRIVATE LIMITED	Director	31-07-08	31-07-08	Active	NO

Name :

Mr. Diljitsingh Gopalsingh Mutneja

Designation :

Director

Address :

8, Ramkripa, L T Dilip Gupte Marg, Mahim, Mumbai – 400016, Maharashtra, India

Date of Birth/Age :

31.03.1968

Qualification :

Graduate

Date of appointment :

31.07.2008

DIN No.:

02246693

Name :

Mr. Nimesh Devchand Chheda

Designation :

Director

Address :

6, Bhikoba Niwas, 2^nd Floor, Gokhale Road Dadar, Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

10.04.1974

Qualification :

Graduate

Date of appointment :

31.07.2008

DIN No.:

02246678

Name :

Mr. Raju Balubhai Moshwadia

Designation :

Director

Address :

B/402, Building No.9, 4^th floor, Prem Nagar, Mandpeshwar Road, Borivali (West), Mumbai – 400092, Maharashtra, India

Date of Birth/Age :

16.04.1976

Qualification :

Graduate

Date of appointment :

31.07.2008

DIN No.:

02239581

Name :

Mr. Ankur Prasankumar Surana

Designation :

Director

Address :

47/1348, MIG Adarsh Nagar Colony, Worli, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

26.09.1975

Date of appointment :

01.04.2009

DIN No.:

02990623

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Mohammed Yusuf Shafi	1600
Diljit Gopalsingh Mutneja	1200
Raju Balubhai Moshwadia	2000
Nimesh Devchand Chheda	1200
Vivek Girish Bhuta	2000
Ankur Prsankumar Surana	2000
Total	10000

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Trader and Importer of Processed Food Snacks, Non-Alcoholic Drinks, Pickles and Jams Ketchups, etc.

GENERAL INFORMATION

No. of Employees :

20 (Approximately)

Bankers :

HDFC Bank, HDFC Bank Hosue Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
HDFC Bank Limited [Cash credited secured against property of directors and personal guarantee of all directors]	3.263	0.000
Total	3.263	0.000
Unsecured Loan
From Directors	15.143	15.767
From Interoperate	0.000	0.040
Total	15.143	15.807

Banking Relations :	--
Auditors :
Name :	K L Parmar and Company Chartered Accountants
Address :	30/1 Saideep Apartment, J. B. Nagar, Andheri (E), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-28202606/28210999
Fax No.:	91-22-28202605
E-Mail :	klparmar@gmail.com
Pan No.:	AAAFR8449Q

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 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		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.762	1.130	0.097
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.862	1.230	0.197
LOAN FUNDS
1] Secured Loans		3.263	0.000	0.000
2] Unsecured Loans		15.143	15.807	6.861
TOTAL BORROWING		18.406	15.807	6.861
DEFERRED TAX LIABILITIES		0.005	0.005	0.005
TOTAL		21.273	17.042	7.063
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.155	0.185	0.166
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	8.358	8.528	4.220
	Sundry Debtors	10.344	9.435	3.712
	Cash & Bank Balances	0.446	0.206	0.310
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	6.789	1.649	2.434
Total Current Assets		25.937	19.818	10.676
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.786	1.961	3.030
	Other Current Liabilities	0.606	0.020	0.549
	Provisions	1.432	0.989	0.212
Total Current Liabilities		4.824	2.970	3.791
Net Current Assets		21.113	16.848	6.885
MISCELLANEOUS EXPENSES		0.005	0.009	0.012
TOTAL		21.273	17.042	7.063

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	TURNOVER		57.664	52.177	6.828
Less	EXPENSES
		Office Expenses
		Administrative Expenses	59.271	54.951	NA
		Advertising Expenses
		TOTAL	59.271	54.951	NA
	PROFIT BEFORE TAX		2.432	1.534	0.219
Less	TAX		0.500	0.500	0.122
	PROFIT AFTER TAX		1.932	1.034	0.097
	IMPORTS
		Raw Materials	29.802	31.085	3.077
	Earnings Per Share (Rs.)		163.17	10.34	9.70

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	4.22	2.94	3.21
Return on Total Assets (PBT/Total Assets}	(%)	9.32	7.67	2.02
Return on Investment (ROI) (PBT/Networth)		0.85	1.25	1.11
Debt Equity Ratio (Total Liability/Networth)		8.12	15.27	54.07
Current Ratio (Current Asset/Current Liability)		5.38	6.67	2.82

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS:

During the year the company has earned a net profit of Rs.2.432 millions. The directors are pursuing for better future and prospects in the years to come.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74900MH2008PTC185272
Name of the company	ROVIN IMPEX PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2, Jay Shiv Shankar Co-Op Hsg Soc Limited, Shavji Park Raod No 5, Mahim, Mumbai- 400016, Maharashtra, India
This form is for	Creation of charge
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	HDFC Bank, HDFC Bank Hosue Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India
Email	rbbform8@hdfcbank.com
Nature of instrument creating charge	Letter of Hypothecation.
Date of instrument Creating the charge	02.06.2010
Amount secured by the charge	Rs. 6.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment - On Demand Margin - Company shall at all times during the continuance of this security maintain the said debts of a sufficient amount to provide the margin of security as may from time to time advised by the Bank. Extent and Operation of the charge - Hypothecation by way of First Charge on Company's Stocks, Book Debts etc., to secure as a continuing security for the repayment of Rs.6.000 millions, together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Particulars of the property charged	All the stock in trade both present and future consisting of raw materials, finished goods, goods in process of manufacturing and All the book-debts, outstanding monies receivables, claims and bills which are now due and owing or which may at any time hereafter during the continuance

FIXED ASSETS:

· Furniture

· Computer

· Air Conditioner

· Refrigerator

· Mobile

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.50.29
UK Pound	1	Rs.77.60
Euro	1	Rs.64.67

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	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		43

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.