MIRA INFORM REPORT

Report Date :

28.07.2012

IDENTIFICATION DETAILS

Name :	JANATHA AQUA PRODUCTS PRIVATE LIMITED (w.e.f. 02.05.2009)
Formerly Known As :	JANATHA SEAFOOD PRIVATE LIMITED
Registered Office :	Manoor Fisheries Road, National Highway No.17, Kota, Udupi -576221, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.12.2005
Com. Reg. No.:	08-037938
Capital Investment/ Paid-up Capital:	Rs.1.500 Million
CIN No.: [Company Identification No.]	U51223KA2005PTC037938
TAN No.: [Tax Deduction & Collection Account No.]	BLRJ03651E
PAN No.: [Permanent Account No.]	AABCJ6646B
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Fish Meal, Oil Product
No. of Employees:	300 (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 32000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relation are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Diwani
Designation :	Manager
Contact No.:	91-9902068204
Date :	26.07.2012

LOCATIONS

Registered Office :	Manoor Fisheries Road, National Highway No.17, Kota, Udupi -576221, Karnataka, India
Tel. No.:	91-820-2564451
Mobile No.:	91-9902068204 (Mr. Diwani)
Fax No.:	91-820-2586083
E-Mail :	janathakunder@rediffmail.com
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Anand Chikkayya Kunder

Designation :

Managing Director

Address :

Sindhudaya Manoor Fisheries Road, Kota, Udupi -576221, Karnataka, India

Date of Appointment :

13.12.2005

Din No.:

01659161

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U51223KA2005PTC037938	JANATHA AQUA PRODUCTS PRIVATE LIMITED	Managing director	13/12/2005	13/12/2005	-	Active	NO
2	U15120KA2009PTC051178	GOAN FRESH MARINE EXPORTS PRIVATE LIMITED	Director	01/11/2010	25/12/2009	-	Active	NO

Name :

Mrs. Geetha Anand Kunder

Designation :

Director

Address :

Sindhudaya Manoor Fisheries Road, Kota, Udupi -576221, Karnataka, India

Date of Appointment :

13.12.2005

Din No.:

01659132

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U51223KA2005PTC037938	JANATHA AQUA PRODUCTS PRIVATE LIMITED	Director	13/12/2005	13/12/2005	-	Active	NO
2	U15120KA2009PTC051178	GOAN FRESH MARINE EXPORTS PRIVATE LIMITED	Director	01/11/2010	01/11/2010	-	Active	NO

Name :

Mr. Prashantha Kunder

Designation :

Director

Address :

1-17-1152, URVA, Chilimbi, Mangalore -575006, Karnataka, India

Date of Appointment :

13.12.2005

Din No.:

01687234

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U51223KA2005PTC037938	JANATHA AQUA PRODUCTS PRIVATE LIMITED	Director	13/12/2005	13/12/2005	-	Active	NO
2	U91110KA2003GAP031546	UDUPI CHAMBER OF COMMERCE AND INDUSTRY	Director	24/09/2011	24/09/2011	-	Active	NO

Name :

Mr. Rakshit Anand

Designation :

Director

Address :

Sindhudaya Manoor Fisheries Road, Kota, Udupi -576221, Karnataka, India

Date of Appointment :

15.12.2010

Din No.:

03327158

KEY EXECUTIVES

Name :	Mr. Diwani
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Anand C Kunder	5000
Geetha A Kunder	2500
Prashanth Kunder	2500
Rachana Kunder	2500
Rakshit Kunder	2500
Total	15000

As on 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Fish Meal, Oil Product
Products :	· Sulphited Fish Oil · Fat Liquor · Blown Fish Oil
Exports :
Products :	· Fish Meal · Oil Product
Countries :	· Japan · South Korea · Thailand · Turkey · Vietnam · Singapore · Malaysia
Terms :
Selling :	L/C Cash/Credit (30Days)
Purchasing :	Cash/Credit (30Days)

GENERAL INFORMATION

Customers :

Wholesalers, Retailers

No. of Employees :

300 (Approximately)

Bankers :

The Bhatkal Urban Co-operative Bank Limited, Ganguli Branch Ganguli- 576216, Karnataka, India

Facilities :

Rs. In Millions

SECURED LOAN	31.03.2011	31.03.2010
Short Term – From Bank (Secured against hypothecation of stock and guaranteed by Managing Director	12.149	24.558

Banking Relations :	--
Auditors :
Name :	Rao and Swamy Chartered Accountant
Address :	Vidyartana Udupi -576101, Karnataka, India
Tel. No.:	91-820-2520646/2528646/2525568
Pan No.:	AMDPS6806R

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
15000	Equity Share	Rs.100/- each	Rs.1.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15000	Equity Share	Rs.100/- each	Rs.1.500 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		1.500	1.200	1.200
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		6.426	2.262	0.963
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		7.926	3.462	2.163
LOAN FUNDS
1] Secured Loans		12.149	24.558	0.000
2] Unsecured Loans		0.000	0.000	0.010
TOTAL BORROWING		12.149	24.558	0.010
DEFERRED TAX LIABILITIES		0.138	0.000	0.000
TOTAL		20.213	28.020	2.173
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.278	1.262	1.262
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.500	0.500	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	19.620	6.587	0.000
	Sundry Debtors	29.916	13.867	0.000
	Cash & Bank Balances	4.012	10.229	0.969
	Other Current Assets	0.454	0.075	0.448
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		54.002	30.758	1.417
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	38.567	4.374	0.000
	Other Current Liabilities			0.000
	Provisions	0.000	0.126	0.517
Total Current Liabilities		38.567	4.500	0.517
Net Current Assets		15.435	26.258	0.900
MISCELLANEOUS EXPENSES		0.000	0.000	0.011
TOTAL		20.213	28.020	2.173

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	NA	76676.293	NA
		Other Income	NA	5907.860	NA
		TOTAL	NA	82584.153	NA
Less	EXPENSES		NA	81393.128	NA
	PROFIT BEFORE TAX		NA	1191.025	NA
Less	TAX		NA	226.510	NA
	PROFIT AFTER TAX		NA	964.515	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	1.13	NA
Net Profit Margin (PBT/Sales)	(%)	NA	1.46	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	3719.62	NA
Return on Investment (ROI) (PBT/Networth)		NA	344.03	NA
Debt Equity Ratio (Total Liability/Networth)		6.02	8.39	0.65
Current Ratio (Current Asset/Current Liability)		1.40	1.17	2.74

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
Promoters background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last one years	Yes
Profitability for last one years	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	Yes
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes
PAN of Proprietor/Partner/Director, if available	No
Passport No of Proprietor/Partner/Director, if available	No
Voter ID No of Proprietor/Partner/Director, if available	No

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.55.41
UK Pound	1	Rs.86.93
Euro	1	Rs.68.10

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	YES
--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.