MIRA INFORM REPORT

Report Date :

28.06.2012

IDENTIFICATION DETAILS

Name :	BIODYNE SEEDS PRIVATE LIMITED
Registered Office :	K - 20, M. R. Society, Relief Road, Santacruz (West), Mumbai - 400054, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.07.1999
Com. Reg. No.:	11-120719
Capital Investment/ Paid-up Capital:	Rs.0.100 Million
CIN No.: [Company Identification No.]	U01122MH1999PTC120719
TAN No.: [Tax Deduction & Collection Account No.]	MUMB15934C
PAN No.: [Permanent Account No.]	AABCB3827E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Chemical
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 13000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability appears to be slow. Trade relations are reported as fair. Business is active. Payments are reported to be slow. 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 :	K - 20, M. R. Society, Relief Road, Santacruz (West), Mumbai - 400054, Maharashtra, India
Tel. No.:	91-22-26616172/ 26616173
Fax No.:	91-22-26616126
E-Mail :	mumbai@adyaoils.com biodyne201@gmail.com

DIRECTORS

As on: 30.09.2011

Name :

Mr. Samir Dinanath Chaturvedi

Designation :

Director

Address :

502, Adibaba, Santacurz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

26.01.1971

Date of Appointment :

03.04.2000

DIN No.:

00961329

Other Directorships :

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	U15140MH1997PLC111777	ADYA OILS AND CHEMICALS LIMITED	Director	07-11-97	07-11-97	-	Active	NO
2	U01122MH1999PTC120719	BIODYNE SEEDS PRIVATE LIMITED	Director	03-04-00	03-04-00	-	Active	NO

Name :

Mr. Dinesh Gajadhar Chaturvedi

Designation :

Director

Address :

91, Santosh Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

08.08.1960

Date of Appointment :

10.09.1999

DIN No.:

01958118

Other Directorships :

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	U01122MH1999PTC120719	BIODYNE SEEDS PRIVATE LIMITED	Director	10-09-99	10-09-99	-	Active	NO
2	U15140MH1997PLC111777	ADYA OILS AND CHEMICALS LIMITED	Director	02-07-07	02-07-07	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Anand Chaturvedi	50
Anup Chaturvedi	50
Arun Chaturvedi	60
Arvind Chaturvedi	50
Ashish Chaturvedi	50
BANSIBAT FIN and IVT Private Limited, India	1165
Chandresh Kumar	60
Dinesh Chaturvedi	1225
Deepak Chaturvedi	57
Gajadhar Pathak	67
Giriraj Chaturvedi	30
G L Pathak	70
Jamuna Pathak	20
Kalpana Chaturvedi	510
Mahdu Chaturvedi	70
Mahavir Chaturvedi	70
Manorama Chaturvedi	40
Moti Exim Private Limited, India	2860
N P Srivastava	50
P L Mhaske	30
Rama Chaturvedi	70
Samir Chaturvedi	1810
Sandip Chaturvedi	710
Sanjay Chaturvedi	50
Sunil Chaturvedi	40
Sridhar Chaturvedi	30
Sudhir Chaturvedi	506
Sukumari Chaturvedi	50
Sunita Chaturvedi	70
Vishnu Chaturvedi	30
Rajesh Chaturvedi	50
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2011

Category	Percentage
Bodies corporate	40.00
Directors or relatives of directors	49.00
Other top fifty shareholders	11.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Chemical

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Bank of India, Mahalaxmi Branch, 8-A, Bhulabhai Desai Road, Near Mahalaxmi Temple, Mumbai - 400026, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
From Bank of India (Secured against Stocks and Debtors and Personal guarantees of director)	3.468	2.454
Total	3.468	2.454
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Directors	0.724	0.809
Total	0.724	0.809

Banking Relations :	--
Auditors :
Name :	Lukad and Jain Chartered Accountants
Address :	46 Mulji Jetha Building, 2nd Floor, 185/187 Princess Street, Mumbai – 400002, Maharashtra, India
PAN No.:	AAAFL8838P

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		3.251	3.183	3.107
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.351	3.283	3.207
LOAN FUNDS
1] Secured Loans		3.468	2.454	2.999
2] Unsecured Loans		0.724	0.809	0.473
TOTAL BORROWING		4.192	3.263	3.472
DEFERRED TAX LIABILITIES		0.019	0.022	0.031
TOTAL		7.562	6.568	6.710
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.931	0.961	1.018
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	4.219	4.337	3.688
	Sundry Debtors	2.264	1.071	2.055
	Cash & Bank Balances	0.459	0.252	0.212
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.736	0.868	0.919
Total Current Assets		7.678	6.528	6.874
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.661	0.809	1.154
	Other Current Liabilities	0.134	0.000	0.000
	Provisions	0.252	0.113	0.030
Total Current Liabilities		1.047	0.922	1.184
Net Current Assets		6.631	5.606	5.690
MISCELLANEOUS EXPENSES		0.000	0.001	0.002
TOTAL		7.562	6.568	6.710

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	16.386	15.883	50.021
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION			0.145	0.216
Less/ Add	DEPRECIATION/ AMORTISATION			0.058	0.023
	PROFIT BEFORE TAX		0.103	0.087	0.193
Less	TAX		0.036	0.011	0.061
	PROFIT AFTER TAX		0.067	0.076	0.132
	Earnings Per Share (Rs.)		1.17	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	0.63	0.55	0.39
Return on Total Assets (PBT/Total Assets}	(%)	1.20	1.16	2.45
Return on Investment (ROI) (PBT/Networth)		0.03	0.03	0.06
Debt Equity Ratio (Total Liability/Networth)		1.56	1.27	1.45
Current Ratio (Current Asset/Current Liability)		7.33	7.08	5.81

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	No
Major Customers	No
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

Note:

The Registered Office of the company has been shifted from 101 Chama 501 Dr. Ambe Dkar Rdkhar West, Mumbai - 400062, Maharashtra, India to the present address w.e.f. 01.01.2007

FINANCIAL PERFORMANCE:

Company’s turnover during the year was Rs.16.386 Millions. Profit after Tax for the current year has Rs.0.356 Million.

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U01122MH1999PTC120719
Name of the company	BIODYNE SEEDS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	K - 20, M. R. Society, Relief Road, Santacruz (West), Mumbai - 400054, Maharashtra, India E-mail: mumbai@adyaoils.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10193293
Type of charge	· Book debts · Movable property (not being pledge)
Particular of charge holder	Bank of India, Mahalaxmi Branch, 8-A, Bhulabhai Desai Road, Near Mahalaxmi Temple, Mumbai - 400026, Maharashtra, India E-mail: Mumbaisouth@bankofindia.co.in
Nature of instrument creating charge	Supplemental Deed of Hypothecation
Date of instrument Creating the charge	02.09.2011
Amount secured by the charge	Rs.15.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 4% above base rate i.e, 14.75% p.a presently Terms of Repayment On Demand Margin 1) C.C -Book debts -25% 2) C.C - Stocks -25% 3) EPC -25% 4) FBP -DP/90 days DA -nil 5) Inland LC- DP/90 days DA -25% in TDRs Extent and Operation of the charge The charge will operate to the extent of Rs. 15.500 Millions on the security offered by the Company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	The borrower hereby hypothecate all tangible movable property and assets of whatsoever nature (other than movable and uninstalled machines) of borrower (both present and future ) All stock of raw material such as agrochemicals, hydrogenated castor oil etc, finished and semi finished goods spare parts, components and stock in process of the borrower whosesoever situated at Mumbai Kalamboli etc. All present and future Book debts ,outstnadings, money receivables, claims, bills which are not due and owing or which may at any time hereafter during the continuance of its security become due offered security by the Company.
Date of instrument modifying the charge	19.11.2009
Particulars of the present modification	By present modification dated 02/09/2011, Supplemental Deed of Hypothecation, the bank has sanctioned the additional C.C limit of Rs. 80 lakhs. Hence the total charge is increased upto Rs.15.500 Millions on movable tangible property, Stock and Book Debts.

FIXED ASSETS:

· Land

· Farm House

· Motor Car

· Computers

· Office Equipment

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.57.88
UK Pound	1	Rs.89.42
Euro	1	Rs.71.46

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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.