MIRA INFORM REPORT

Report Date :

05.07.2012

IDENTIFICATION DETAILS

Name :	SURYA AGRO PRODUCTS PRIVATE LIMITED
Registered Office :	49, Kali Krishna Tagore Street, 5^th Floor, Kolkata – 700007, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.07.2009
Com. Reg. No.:	21-137212
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U01400WB2009PTC137212
TAN No.: [Tax Deduction & Collection Account No.]	CALS23634C
PAN No.: [Permanent Account No.]	AANCS2750B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Wheat Flour and Rice.
No. of Employees :	9 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 17000
Status :	Recently Commence Business activity
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Though the company was incorporated in 2009. But they has recently started their business activity. Trade relations are reported to be fir. Business is active. Payments are reported to be slow. The company can be considered for business dealing on a safe and secured 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. Sanjay Agarwal
Designation :	Director
Contact No.:	91-9433022265
Date :	29.06.2012

LOCATIONS

Registered Office :	49, Kali Krishna Tagore Street, 5^th Floor, Kolkata – 700007, West Bengal, India
Tel. No.:	91-33-22598965/ 22598966
Mobile No.:	91-9433022265 (Mr. Sanjay Agarwal)
Fax No.:	91-33-22598964
E-Mail :	sanjay@laxmiagro.com
Area :	800 sq. ft.
Location :	Owned
Factory :	Gopal Nagar, Bolpur, West Bengal, India
Area :	15000 sq. ft.
Location :	Owned

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Ved Prakash Agarwal

Designation :

Director

Address :

320, Bangur Avenue, Block –A, Kolkata – 700055, West Bengal, India

Date of Birth/Age :

04.09.1969

Date of Appointment :

27.07.2009

DIN No.:

01855297

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U01400WB2009PTC137212	SURYA AGRO PRODUCTS PRIVATE LIMITED	Director	27/07/2009	27/07/2009	Active	NO
2	U51909WB2011PTC166774	ATLANTA DEALMARK PRIVATE LIMITED	Director	30/08/2011	30/08/2011	Active	NO

Name :

Mr. Sanjay Agarwal

Designation :

Director

Address :

320, Bangur Avenue, Block –A, Kolkata – 700055, West Bengal, India

Date of Birth/Age :

13.09.1977

Date of Appointment :

27.07.2009

DIN No.:

01972279

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U01400WB2009PTC137212	SURYA AGRO PRODUCTS PRIVATE LIMITED	Director	27/07/2009	27/07/2009	Active	NO
2	U51909WB2011PTC166774	ATLANTA DEALMARK PRIVATE LIMITED	Director	30/08/2011	30/08/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Ved Prakash Agarwal	5000
	5000
Total	10000

(AS ON 31.01.2012)

Names of Allotees	No. of Shares Allotted
Atlanta Dealmark Private Limited, India	103500
Banwari Lal Sharma	900
Madhu Sharma	675
Monica Agarwal	900
Sanjay Agarwal	13050
Sanjay Agarwal (HUF)	1800
Sarita Sharma	900
Shakuntala Devi Sharma	725
Ved Prakash Agarwal	4500
Ved Prakash Agarwal (HUF)	3150
Vijay Sharma	900
Total	131000

(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 :	Manufacturer of Wheat Flour and Rice.
Products :	· Rice Bran Oil · Rice Bran De-oiled · Rice Bran · Polished Rice · Wheat Flour · Rice Bran Refined Oil · Rice Bran Crude Oil · De-oiled Rice Bran Cake · Mustard Cake · Groundnut · Soya Bean
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :	· Aarti Agro Private Limited
Customers :	Wholesalers, Retailers and End Users · Aditya Edible Private Limited
No. of Employees :	9 (Approximately)
Bankers :	· Corporation Bank Canning Street, B. R. B. Basu Road, Kolkata – 700001, West Bengal, India · Axis Bank Burrabazar Branch, India

Banking Relations :	--
Auditors :
Name :	Kailash B. Goel and Company Chartered Accountant
Address :	70, Ganeh Chandra Avenue, 1^st Floor, Kolkata – 700013, West Bengal, India
Tele-Fax No.:	91-33-22151938
PAN No.:	AAFFK5172J
Email :	kbgco@yahoo.co.in
Associates/Subsidiaries :	· Surya Flour Mill 49, Kali Krishna Tagore Street, 5^th Floor, Kolkata – 700007, West Bengal, India Activity: Manufacturer of Wheat Flour and Rice.

CAPITAL STRUCTURE

(AS ON 30.09.2011)

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
432500	Equity Shares	Rs.10/- each	Rs.4.325 Millions

(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
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
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		4.050	2.100
3] Reserves & Surplus		0.098	0.000
4] (Accumulated Losses)		0.000	(0.041)
NETWORTH		4.248	2.159
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		4.248	2.159
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.664	0.949
Capital work-in-progress		1.733	0.485
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	2.429	0.000
	Cash & Bank Balances	0.399	0.624
	Other Current Assets	0.000	0.000
	Loans & Advances	1.985	1.281
Total Current Assets		4.813	1.905
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	5.913	1.151
	Other Current Liabilities	0.000	0.000
	Provisions	0.049	0.029
Total Current Liabilities		5.962	1.180
Net Current Assets		(1.149)	0.725
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		4.248	2.159

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	40.013	3.854
		Other Income	0.000	0.000
		TOTAL	40.013	3.854
Less	EXPENSES
		Purchases		3.286
		Administrative and Other Expenses	39.825	0.460
		Preliminary Expenses Written Off		0.120
		TOTAL	39.825	3.866
	PROFIT BEFORE TAX		0.188	(0.012)
Less	TAX		0.050	0.029
	PROFIT AFTER TAX		0.138	(0.041)
	Earnings Per Share (Rs.)		13.84	(4.08)

Particulars	31.03.2012
Sales Turnover (Approximately)	40.000

Expected Sales (2012-13): Rs.100.000 Millions

The above information has been parted by Mr. Sanjay Agarwal.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	0.34	(1.06)
Net Profit Margin (PBT/Sales)	(%)	0.47	(0.31)
Return on Total Assets (PBT/Total Assets}	(%)	2.22	(0.42)
Return on Investment (ROI) (PBT/Networth)		0.04	(0.01)
Debt Equity Ratio (Total Liability/Networth)		1.40	0.55
Current Ratio (Current Asset/Current Liability)		0.81	1.61

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	Yes
Major Suppliers	Yes
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	No
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

FINANCIAL PERFORMANCE

The company has commenced operations during the year. The company has prepared the Profit and Loss Account; net profit of the company during this financial year has Rs.0.188 Millions.

TRADE REFERENCE:

· Aarti Agro Private Limited

· Aditya Edible Private Limited

This form is for	Creation of charge
Corporate identity number of the company	U01400WB2009PTC137212
Name of the company	SURYA AGRO PRODUCTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	49, K. K. Tagore Street, Kolkata – 700007, West Bengal, India sanjay@laxmiagro.com
Type of charge	Immovable Property Any Interests in immovable property Book Debts Movable Property Other: Inventory and all other current Assets
Particular of charge holder	Corporation Bank Canning Street, B.R.B. Basu Road, Kolkata – 700001, West Bengal, India pkpstatutory@gmail.com
Nature of description of the instrument creating or modifying the charge	1. Agreement for Hypothecation dt. 24.02.2012 2. Memorandum Recording Deposit of Title Deeds dt. 24.02.2012 3. Hypothecation of Inventory, Book debts and all current assets to secure a demand cash credit vide Deed of hypothecation dt. 24.02.2012. 4. Counter guarantee for the bank Guarantees issued by the bank.
Date of instrument Creating the charge	24/02/2012
Amount secured by the charge	Rs.107.300 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest 1. Cash credit: Base rate+1.10% i.e 11.75% p.a. 2. Term Loan: Base rate+2.10% i.e 12.75% p.a. Terms of Repayment Term Loan: To be repayable in Twenty Six Quarterly Installments payment of Rs.2.011 Millions each with last installment of Rs.2.025 Millions. Initial moratorium period is for 12 months from the date of 1st disbursement. Margin Cash credit: Inventory- 25% Book debts-40% Term Loan: 45.19% Extent and Operation of the charge EMG/first charge on factory land and building, hypothecation of P&M with estimated value. First charge by way of Hypothecation of Inventory cum Book debts and all Current Assets.
Short particulars of the property charged	1. Mouza- Gopal Nagar, JL No. 132, Touni No. 4, Khatian No. 586, Dag No. 822, P.S. Illumbazar, District- Birbhum. Mouza- Kamarpara, JL No. 131, Khatian No. 234, Dag No. 1041, P.S. Illumbazar, District- Birbhum. 2. Mouza-Gopal Nagar, JL No. 132, Khatiyan No. 586, under Dag No. 822, P.S.Illumbazar, District- Birbhum, extent as per deed of Conveyance dated 26.05.2012, 4574/2010 3. Land situated in district Birbhum P.S. Illumbazar, Sub Division and ADSR office- Bolpur, Mouza- Gopalnagar, JL No. 132, under Khatian No. 586. Revised khatian No. 701. Further revised khatian no. 325/1, R.S. and L.R. Plot No. 822 of area 86460 square feet or 6 bighas. As per Indenture of sale 7679/2009 and 9815/2009 Mouza- Gopalnagar, JL no. 132, PS- Illumbazar, Birbhum 4.All current assets of the company comprising book debts, stock of raw material, stores, stock in process, finished goods, bills receivable and all other movable assets lying, stored, placed or located at Mouza

FIXED ASSETS:

· Land

· Computer

· Mobile Phones

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.54.55
UK Pound	1	Rs.85.48
Euro	1	Rs.68.70

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION		0
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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.