MIRA INFORM REPORT

Report Date :

18.06.2012

IDENTIFICATION DETAILS

Name :	BDB EXPORTS PRIVATE LIMITED
Registered Office :	2 Clive Ghat Street, Suit No.306, 3^rd Floor, Kolkata - 700001, West Bengal,
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	02.07.2002
Com. Reg. No.:	21- 094824
Capital Investment/ Paid-up Capital:	Rs.9.374 Millions
CIN No.: [Company Identification No.]	U51909WB2002PTC094824
TAN No.: [Tax Deduction & Collection Account No.]	CALB04834E
PAN No.: [Permanent Account No.]	AABCB9310N
Legal Form :	Private Limited Liability Company
Line of Business :	Exporter of Raw Cotton
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 126000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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 :	2 Clive Ghat Street, Suit No.306, 3^rd Floor, Kolkata - 700001, West Bengal, India
Tel. No.:	91-33-22434682
Mobile No.:	91-9831076525 (Mr. Nirmal Kumar Bhura)
Fax No.:	91-33-30222721
E-Mail :	nkb2@vsnl.net

DIRECTORS

As on 30.09.2011

Name :

Mr. Nirmal Kumar Bhura

Designation :

Director

Address :

10, Lord SInha Road, Kolkata -700001, West Bengal, India

Date of Appointment :

12.04.2007

Din No.:

00591180

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	U51109WB1981PTC033553	D C GROUP PVT LTD	Director	14/04/1981	14/04/1981	-	Active	NO
2	U51109WB1994PTC063068	TOP PERFORMANCE COMPANY PVT. LTD.	Director	29/04/1994	29/04/1994	-	Active	NO
3	U51109WB1994PLC061506	BHURA EXPORTS LTD.	Director	31/08/2001	31/08/2001	-	Active	NO
4	U70101WB1992PTC055930	SONA ESTATES PVT. LTD.	Director	1/9/2001	1/9/2001	-	Active	NO
5	U36900WB1991PTC052966	BHP(INDIA) PVT LTD	Director	27/03/2008	30/07/2005	-	Active	NO
6	U51909WB2004PTC099313	NAVRANG IMPEX PRIVATE LIMITED	Director	16/02/2007	16/02/2007	-	Active	NO
7	U51909WB2002PTC094824	BDB EXPORTS PRIVATE LIMITED	Director	12/4/2007	12/4/2007	-	Active	NO
8	U51109WB1990PTC048403	HIMANCHAL HOLDINGS PVT LTD	Director	8/9/2010	30/07/2010	-	Active	NO
9	U51109WB2006PTC110167	BDB EXIM PRIVATE LIMITED	Additional director	2/1/2012	2/1/2012	-	Active	NO

Name :

Mr. Narendra Kumar Bhura

Designation :

Director

Address :

2 Clive Ghat Street, Kolkata - 700001, West Bengal, India

Date of Appointment :

01.08.2006

Din No.:

00591185

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	U36900WB1991PTC052966	BHP(INDIA) PVT LTD	Director	27/03/2008	27/02/2004	-	Active	NO
2	U51109WB1994PLC061506	BHURA EXPORTS LTD.	Director	31/07/2006	31/07/2006	-	Active	NO
3	U70101WB2004PTC100350	BIKANER BUILDERS PRIVATE LIMITED	Director	31/07/2006	31/07/2006	29/01/2009	Active	NO
4	U51109WB1994PTC063068	TOP PERFORMANCE COMPANY PVT. LTD.	Director	31/07/2006	31/07/2006	-	Active	NO
5	U70101WB1992PTC055930	SONA ESTATES PVT. LTD.	Director	31/07/2006	31/07/2006	-	Active	NO
6	U51909WB2002PTC094824	BDB EXPORTS PRIVATE LIMITED	Director	1/8/2006	1/8/2006	-	Active	NO
7	U51109WB2006PTC110167	BDB EXIM PRIVATE LIMITED	Additional director	22/07/2009	14/10/2006	-	Active	NO
8	U51109WB1990PTC048403	HIMANCHAL HOLDINGS PVT LTD	Director	28/12/2006	28/12/2006	-	Active	NO
9	U51109WB1981PTC033553	D C GROUP PVT LTD	Director	22/09/2008	2/5/2008	-	Active	NO
10	U51909WB2004PTC099313	NAVRANG IMPEX PRIVATE LIMITED	Director	30/07/2010	30/07/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Nirmal Kumar Bhura	105800
Bimal Devi Bhura	1000
Narendra Kumar Bhura	16000
Rathindra Munshi	3000
Vishwanath Saha	3750
Bholanath Saha	3750
Tarun Ghosh	3100
Bhasker Sen	2500
Anjana Sen	2500
DC Bhura and Sons HUF	5000
Magani Devi Bhura	40000
BHP India Private Limited, India	460000
Dwip Chand Bhura	5000
Vijayshree Bhura	15000
Vandana Bhura	15000
Top Performance Private Limited, India	50000
Niramal Kumar Bhura and Sons HUF	15000
Himachal Holdings Private Limited, India	100000
Neelanchal Marketing Private Limited, India	22750
Harsharatna Finance and Investment Private Limited, India	22750
Asha Apartments Private Limited, India	22750
Sankit Finance Private Limited, India	22750
Total	937400

As on 15.03.2012

Names of Alottees	No. of Shares
Paragon Goods Private Limited	10000
Urraca Consultants Private Limited	3000
Growrast Realtors Private Limited	10000
Singala Vinimoy Private Limited	10000
Crystal Barter Private Limited	10000
Lupmex VIncom Private Limited	20000
Vishu Vincom Private Limited	15000
Total	78000

As on 30.09.2011

Category	Percentage
Bodies corporate	74.78
Directors or relatives of directors	22.70
Other top fifty shareholders	2.52
Total	100.00

BUSINESS DETAILS

Line of Business :

Exporter of Raw Cotton

GENERAL INFORMATION

Suppliers :

· Neha Intertarde Private limited

· Ram Chandra DInesh Kumar Sagar

· Karim Bhai

· Kaseem Mandal

· Khalil Bhai

· Makhan Babu

Customers :

Nafeed Limited

No. of Employees :

Not Available

Bankers :

· State Bank of Bikaner and Jaipur, Park Street Branch, 20B, Park Street, Kolkata -700016, West Bengal, India

· State Bank of India

· Royal Bank of Scotland

· HSBC Bank

· Standard Chartered Bank

Facilities :

Rs. In Millions

SECURED LOAN	31.03.2011	31.03.2010
From SBBJ Bank, Park Street Branch (Note : Against Hypothecation of Stock and Book Debts)	0.000	19.996

UNSECURED LOAN	31.03.2011	31.03.2010
From Sundry Parties	11.757	7.850

Banking Relations :	--
Auditors :
Name :	Agarwal Mahesh and Company Chartered Accountant
Address :	18, British Indian Street, 4^th Floor, Kolkata, West Bengal, India
Pan No.:	AAFFA2410F

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Share	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
937400	Equity Share	Rs.10/- each	Rs.9.374 Millions

After 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Share	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1015400	Equity Share	Rs.10/- each	Rs.10.154 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		9.374	8.464	8.464
2] Share Application Money		0.500	3.500	10.879
3] Reserves & Surplus		21.584	11.318	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		31.458	23.282	19.343
LOAN FUNDS
1] Secured Loans		0.000	19.996	20.159
2] Unsecured Loans		11.757	7.850	13.957
TOTAL BORROWING		11.757	27.846	34.116
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		43.215	51.128	53.459
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.410	2.184	2.534
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.200	0.270	0.070
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	29.345	46.368	10.793
	Sundry Debtors	16.298	16.798	17.847
	Cash & Bank Balances	3.767	10.097	5.336
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	32.737	11.600	39.482
Total Current Assets		82.147	84.863	73.458
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	41.055	35.971	22.306
	Other Current Liabilities	0.000	0.040	0.039
	Provisions	0.517	0.218	0.258
Total Current Liabilities		41.572	36.229	22.603
Net Current Assets		40.575	48.634	50.855
MISCELLANEOUS EXPENSES		0.030	0.040	0.000
TOTAL		43.215	51.128	53.459

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011	31.03.2010	31.03.2009
	Turnover	497.376	321.490	259.513
Less	EXPENSES	495.686	320.782	258.868
	PROFIT BEFORE TAX	1.690	0.708	0.645
Less	TAX	0.524	0.269	0.285
	PROFIT AFTER TAX	1.166	0.439	0.360
	EARNINGS IN FOREIGN CURRENCY	339.905	194.269	239.525

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.24	0.14	0.14
Return on Total Assets (PBT/Total Assets}	(%)	1.99	0.81	0.85
Return on Investment (ROI) (PBT/Networth)		0.05	0.03	0.03
Debt Equity Ratio (Total Liability/Networth)		1.70	2.75	2.93
Current Ratio (Current Asset/Current Liability)		1.98	2.34	3.25

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	No
Name of Person Contacted	No
Designation of contact person	No
Turnover of firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	No
Major Suppliers	Yes
Major Customers	Yes
Payment Terms	No
Export / Import Details [If Applicable]	No
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

FINANCIAL RESULTS:

During the year the company has earned a not profit 1.166 Millions after making provision of taxation or Rs.0.517 Million and Income tax expense 0.001 Million and Fringe Benefit Tax Expense of Rs.0.007 the directors propose to carry forward to next year

Form : 8

Corporate identity number of the company	U51909WB2002PTC094824
Name of the company	BDB EXPORTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2 Clive Ghat Street, Suit No.306, 3^rd Floor, Kolkata - 700001, West Bengal, Email: nkb2@vsnl.net
This form is for	Creation of charge
Type of charge	· Book Debts · Floating Charge
Particular of charge holder	State Bank of Bikaner and Jaipur, Park Street Branch, 20B, Park Street, Kolkata -700016, West Bengal, India Email: sbbj10604@sbbj.co.in
Nature of instrument creating charge	Agreement of Hypothecation of Goods and Assets. Letter Regarding the Grant of Individual Limits within the Overall Limit.
Date of instrument Creating the charge	31.03.2011
Amount secured by the charge	Rs.55.400 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest CC@6.50% above Base Rate i.e. 14.50% p.a. for for the present applicable at monthly rests subject to change from time to time. EPC/PCFC@1.75% above Base Rate i.e. 9.75% p.a. (floating) upto 270 days.. Terms of repayment The borrowings are repayable on demand. The loan is for Working Capital only which is repayable on demand according to Banking norms. Margin 25% on Stocks Extent and Operation of the charge: Exclusive First Charge on the whole of the hypothecated assets. Others: The overall limit is also secured by Corporate Guarantees of M/s. Himanchal Holdings Private Limited and M/s. Navrang Impex Private Limited.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive first charge by way of hypothecation of entire assets of the company including stocks of raw materials, stock-in-process, finished goods, stores & spares lying at the company's factory and other stocks points, book debts etc.

FIXED ASSETS:

· Motor Car

· Air Conditioner

· Office Equipment

· Fax Machine

· Computer

· Refrigerators

· Furniture and Fixtures

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.55.76
UK Pound	1	Rs.86.69
Euro	1	Rs.70.44

INFORMATION DETAILS

Report Prepared by :

BYI

SCORE & RATING EXPLANATIONS

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

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.