MIRA INFORM REPORT

Report Date :

19.06.2012

IDENTIFICATION DETAILS

Name :	INDUSVALLEY TRADING PRIVATE LIMITED
Formerly Known As :	DAIFY FOOD PRODUCTS PRIVATE LIMITED
Registered Office :	2485/8, 2^nd Floor, Beadonpura Kord Bagh, New Delhi-110005
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.04.1986
Com. Reg. No.:	55-23862
Capital Investment / Paid-up Capital :	Rs.6.400 Millions
CIN No.: [Company Identification No.]	U74899DL1986PTC023862
TAN No.: [Tax Deduction & Collection Account No.]	DELI04034C
PAN No.: [Permanent Account No.]	AABCI1288G
Legal Form :	Private Limited Liability Company
Line of Business :	Importers and Traders of Chemicals.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 76000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There is some dip in the profitability of the company. However, 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 :	2485/8, 2^nd Floor, Beadonpura Kord Bagh, New Delhi-110005, India
Tel. No.:	91-11-41546130
Fax No.:	Not Available
E-Mail :	indusvalley@airtelbroadband.com satendraagr@yahoo.com

DIRECTORS

As on 23.08.2011

Name :

Mr. Nirmal Todi

Designation :

Director

Address :

4 Avenue Ashok, Westend Greens, Rajokri, New Delhi – 110038, India

Date of Birth/Age :

15.02.1966

Date of Appointment :

19.01.1994

Din No.:

00301401

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	U74899DL1986PTC023862	INDUSVALLEY TRADING PRIVATE LIMITED	Whole-time director	19-01-94	19-01-94	Active	NO
2	U74899DL1985PTC020690	DIANA STEELS PRIVATE LIMITED	Director	21-11-94	21-11-94	Active	NO
3	U74899DL1978PLC008854	ULTRA INTERNATIONAL LIMITED	Director	30-09-97	30-09-97	Active	NO

Name :

Mr. Prasad Mahaveer Aggarwal

Designation :

Director

Address :

2485/8, 2^nd Floor, Beadonpura Kord Bagh, New Delhi – 110005, India

Date of Birth/Age :

16.04.1944

Date of Appointment :

20.11.1996

Din No.:

00301458

Name :

Mr. Mahesh Kumar Lakhotia

Designation :

Director

Address :

X/1868, Gali No. 12, Rajgarh Extension, Gandhi Nagar, New Delhi-110031

Date of Birth/Age :

19.10.1961

Date of Appointment :

20.12.2008

Din No.:

02442606

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.08.2011

Names of Shareholders	No. of Shares
Nirmal Todi	115500
Neeta Todi	106100
Sangita Todi	56000
Sweta Todi	92000
Ankita Todi	92000
Aditya Todi	56000
Radhika Todi	65000
Siddharth Todi	55000
Nageshwaran Bhuvana	1650
Prasad Mahaveer Aggarwal	750
Total	640000

As on 23.08.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	99.74
Other	0.26
Total	100.00

BUSINESS DETAILS

Line of Business :

Importers and Traders of Chemicals.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Development Credit Bank Limited, 7/56, Desh Bandhu Gupta Road, Karol Bagh, New Delhi-110005, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
From Syndicate Bank [Secured against hypothecation of stock in trade as well as unregistered equitable mortgage of company’s land and building at Noida and also personally guaranteed by directors]	0.000	11.914
Citi Bank [Secured against property]	0.000	10.373
ICICI Bank [Secured against hypothecation of car]	0.000	0.215
ICICI Bank [secured against property]	0.683	7.113
Development Credit Bank Limited [Secured against Emmar MGF Booking]	10.400	0.000
Total	11.083	29.615
Unsecured Loan
Form Directors	0.000	0.205
From Shareholders	19.311	15.988
From Relatives of Directors / Shareholders	9.340	10.029
From Body / Corporate	7.400	0.000
Total	36.051	26.222

Banking Relations :	--
Auditors :
Name :	Virender Kumar and Associates Chartered Accountants
Address :	212, Rohini Complex, W.A. 107/121, Shakarpur, New Delhi-110092, India
Pan No.:	AAHPG3452B

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
650000	Equity Shares	Rs.10/- each	Rs.6.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
640000	Equity Shares	Rs.10/- each	Rs.6.400 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		6.400	6.400	6.400
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		12.759	10.016	6.471
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		19.159	16.416	12.871
LOAN FUNDS
1] Secured Loans		11.083	29.615	30.935
2] Unsecured Loans		36.051	26.222	30.931
TOTAL BORROWING		47.134	55.837	61.866
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		66.293	72.253	74.737
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.002	2.694	3.408
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.314	0.269	0.250
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	24.576	0.890	15.675
	Sundry Debtors	13.186	31.541	32.256
	Cash & Bank Balances	5.948	8.195	10.159
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	71.782	63.091	67.137
Total Current Assets		115.492	103.717	125.227
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	53.662	30.907	51.082
	Other Current Liabilities	0.532	1.958	1.431
	Provisions	1.321	1.614	1.687
Total Current Liabilities		55.515	34.479	54.200
Net Current Assets		59.977	69.238	71.027
MISCELLANEOUS EXPENSES		0.000	0.052	0.052
TOTAL		66.293	72.253	74.737

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	264.328	261.723	278.056
Less	EXPENSES
		Office Expenses
		Administrative Expenses	258.895	255.738	271.733
		Advertising Expenses
		TOTAL	258.895	255.738	271.733
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		5.433	5.985	6.323
Less/ Add	DEPRECIATION/ AMORTISATION		1.415	0.845	1.023
	PROFIT / (LOSS) BEFORE TAX		4.018	5.140	5.300
Less	TAX		1.275	1.595	1.825
	PROFIT / (LOSS) AFTER TAX		2.743	3.545	3.475
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		10.016	6.471	2.996
	BALANCE CARRIED TO THE B/S		12.759	10.016	6.471
	Earnings / (Loss) Per Share (Rs.)		4.29	5.54	5.43

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.04	1.35	1.25
Return on Total Assets (PBT/Total Assets}	(%)	3.31	4.83	4.12
Return on Investment (ROI) (PBT/Networth)		0.20	0.31	0.41
Debt Equity Ratio (Total Liability/Networth)		0.01	5.50	9.02
Current Ratio (Current Asset/Current Liability)		2.08	3.00	2.31

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

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U74899DL1986PTC023862
Name of the company	INDUSVALLEY TRADING PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2485/8, 2^nd Floor, Beadonpura Kord Bagh, New Delhi-110005, India
Type of charge	Immovable Property Any Interest in Immovable Property
Particular of charge holder	Development Credit Bank Limited, 7/56, Desh Bandhu Gupta Road, Karol Bagh, New Delhi-110005, India
Email	pankajshah@dcbl.com
Nature of description of the instrument creating or modifying the charge	i) Loan Agreement
Date of instrument Creating the charge	23.03.2010
Amount secured by the charge	Rs.13.200 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest rate during the first one year(s) from the date of disbursement will be 8.25% p.a. fixed. Interest rate after the completion of one year(s) will be variable rate of interest i.e. 9.50% p.a. Terms of Repayment The Home Loan will be repaid in 240 months. The EMI of Rs. 112473/- for amount of loan at fixed rate of interest stated herein is for a period of 12 months from the date of first disbursement. At the end of the fixed rate period, the EMI will be calculated based on the applicable variable rate of interest. The EMI of Rs. 122473 for amount of loan at variable rate of interest. Margin As prescribed by the bank from time to time. Extent and Operation of the charge The charge operates till the repayment of all the dues together with interest and all other charges in respect of credit facilities (Home Loan) availed / to be availed by the company from the bank. Others Other terms and conditions as per Sanction Letter dated 23.03.2010.
Short particulars of the property charged	Equitable mortgage of the company's immovable properties situated at The Palm Springs, Unit No. F-902, Tower No. F, Sector-54, Gurgaon-122001 in the state of Haryana.

FIXED ASSETS:

· Furniture and Fixtures

· Office Equipments

· Computer

· Generator

· Vehicles

· Air Conditioners

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.55.60
UK Pound	1	Rs.87.34
Euro	1	Rs.70.66

INFORMATION DETAILS

Report Prepared by :

TPT

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	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		44

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.