MIRA INFORM REPORT

Report Date :

20.03.2012

IDENTIFICATION DETAILS

Name :	J V GOKAL AND COMPANY PRIVATE LIMITED
Registered Office :	Kasturi Building, 171/172, Jamshedji Tata Road, Mumbai – 400020, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.04.1950
Com. Reg. No.:	11-008051
Capital Investment / Paid-up Capital :	Rs.696.900 Millions
CIN No.: [Company Identification No.]	U51900MH1950PTC008051
TAN No.: [Tax Deduction & Collection Account No.]	MUMJ04259D
Legal Form :	Private Limited Liability Company
Line of Business :	Exporter of Teas, in Bulk and Tea Bags.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 4486000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an old and a well established company having satisfactory track. 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 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 :	Kasturi Building, 171/172, Jamshedji Tata Road, Mumbai – 400020, Maharashtra
Tel. No.:	91-22-22026413
Fax No.:	91-22-22041078
E-Mail :	jvgokal@vsnl.com
Website :	www.jvgokal.com
Factory :	Located at: Colombo Kolkata

DIRECTORS

As on 30.09.2011

Name :

Mr. Ravindra Jagjivan Gokal

Designation :

Director

Address :

Flat No. 42, 3^rd Floor, CCI Chambers, Dinshaw Vachha Road, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

26.04.1943

Date of Appointment :

28.09.2004

DIN No.:

00061336

Other Directorship:

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
U29120MH1950PTC008293	NATIONAL IMPLEMENT (INDIA) PRIVATE LIMITED	Director	25-01-69	25-01-69	Active	NO
U51900MH1950PTC008051	J V GOKAL AND COMPANY PRIVATE LIMITED	Director	28-09-04	18-09-71	Active	NO
U65990MH1962PTC012244	CONSOLIDATED INVESTMENT PRIVATE LIMITED	Director	21-02-73	21-02-73	Active	NO
U74999MH1979PTC021430	RADIANT INTERNATIONAL PRIVATE LIMITED	Director	10-03-92	10-03-92	Active	NO
U15142MH1994PLC079578	VITAL VEGETABLE OILS AND PROTEINS LIMITED	Director	12-07-94	12-07-94	Strike off	NO
U65990MH1972PTC015558	YAMUNA INVESTMENTS PRIVATE LIMITED	Director	30-12-94	30-12-94	Active	NO
U13200MH1963PTC012752	CONTREX PRIVATE LIMITED	Director	30-12-94	30-12-94	Active	NO
U67120MH1995PTC085121	J V GOKAL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	01-02-95	01-02-95	Active	NO
U99999MH1996PTC097194	BRICS GILT FINANCE PRIVATE LIMITED	Director	13-02-96	13-02-96	Active	NO
U01132MH1999PTC118046	GOKAL TEA PRIVATE LIMITED	Director	28-01-99	28-01-99	Active	NO
U65990MH1977PTC019804	PARDI INVESTMENTS PRIVATE LIMITED	Director	30-09-99	30-09-99	Active	NO
U45200MH2003PTC143120	BRICS REALTY (INDIA) PRIVATE LIMITED	Director	13-11-03	13-11-03	Active	NO
U29130MH2004PTC149846	JV ROULEMENTS INTERNATIONAL PRIVATE LIMITED	Director	07-12-04	07-12-04	Active	NO

Name :

Mr. Nakul Arun Jagjivan

Designation :

Director

Address :

Ivorine Building, Flat No. 4, 6^th Floor, 154, Maharshi Karve Road, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

28.01.1965

Date of Appointment :

23.02.2004

DIN No.:

00277772

Other Directorship:

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U51900MH1992PTC068642	YATISH TRADING COMPANY PVT LTD	Director	04-04-94	04-04-94	-	Active	NO
U15142MH1994PLC079578	VITAL VEGETABLE OILS AND PROTEINS LIMITED	Director	12-07-94	12-07-94	-	Strike off	NO
U67120MH1995PTC085121	J V GOKAL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	01-02-95	01-02-95	-	Active	NO
U13200MH1963PTC012752	CONTREX PRIVATE LIMITED	Director	31-10-95	31-10-95	-	Active	NO
U99999MH1996PTC097194	BRICS GILT FINANCE PRIVATE LIMITED	Director	13-02-96	13-02-96	-	Active	NO
U01132MH1999PTC118046	GOKAL TEA PRIVATE LIMITED	Director	28-01-99	28-01-99	-	Active	NO
U51900MH1950PTC008051	J V GOKAL AND COMPANY PRIVATE LIMITED	Director	28-09-04	23-02-04	-	Active	NO
U74899DL1992PTC049022	LEMON TREE HOTELS PRIVATE LIMITED	Director	01-07-04	01-07-04	-	Active	NO
U29130MH2004PTC149846	JV ROULEMENTS INTERNATIONAL PRIVATE LIMITED	Director	07-12-04	07-12-04	-	Active	NO
U17116TN1947PLC000477	CHAMUNDI TEXTILES (SILK MILLS) LIMITED	Director	12-02-05	12-02-05	-	Active	NO
U55101DL2004PTC130720	TANGERINE HOTELS PRIVATE LIMITED	Director	03-05-05	03-05-05	-	Amalgamated	NO
U63033MH2005PTC197169	O S S AIR MANAGEMENT PRIVATE LIMITED	Director	30-09-06	05-05-05	-	Active	NO
U65990MH1993PTC073855	VALATION FINANCE AND MARKETING PRIVATE LIMITED	Director	27-05-05	27-05-05	-	Active	NO
U55101DL2002PTC118179	CITRUS HOTELS PRIVATE LIMITED	Director	17-08-05	17-08-05	04-02-10	Active	NO
U55101DL2005PTC138835	SPANK HOTELS PRIVATE LIMITED	Director	29-09-06	26-07-06	-	Active	NO
U29253MH2007PTC169898	ENERGENICS INDIA PRIVATE LIMITED	Director	12-04-07	12-04-07	-	Active	NO
U67190MH2007PTC170028	MATRIX METALLICS PRIVATE LIMITED	Director	17-04-07	17-04-07	-	Active	NO
U51100MH2004PTC144076	BRICS COMMODITIES PRIVATE LIMITED	Director	24-09-07	30-07-07	-	Active	NO
U74999MH2008PTC178651	SILICA TOOL MANUFACTURING AND ALLIED SERVICES PRIVATE LIMITED	Director	11-09-08	01-04-08	11-02-11	Active	NO
U31109MH2007PTC175215	ESPRIT ENERGY APPLIANCES PRIVATE LIMITED	Director	20-08-08	20-08-08	-	Active	NO
U29219MH2007PTC167005	ENVIROX PROTECTION COMPANY PRIVATE LIMITED	Director	26-09-08	26-09-08	-	Active	NO
U67120MH2000PTC125480	EQUINOX IMPEX PRIVATE LIMITED	Director	30-09-08	30-09-08	-	Active	NO
U51909MH2008PTC180524	GLOBEX ENERGIA PRIVATE LIMITED	Director	25-09-09	04-12-08	-	Active	NO
U90000MH2009PTC190594	SADE ENVIROX NETWORK SERVICES PRIVATE LIMITED	Additional director	15-04-09	15-04-09	24-08-09	Active	NO
U90002MH2009PTC195697	SHERIDAN ENVIRONMENT PROTECTION PRIVATE LIMITED	Director	11-09-09	11-09-09	-	Active	NO
U74990MH2008PTC178964	Adrienne Information Suppliers Private Limited	Director	10-09-10	21-12-09	17-08-11	Active	NO
U51900MH2008PTC183380	ENRIKA TRADES AND SERVICES PRIVATE LIMITED	Director	09-09-10	21-12-09	-	Active	NO
U65990MH2006PTC158664	ZEUS ENVIRONMENT PROTECTION PRIVATE LIMITED	Director	09-09-10	21-12-09	-	Active	NO
U90009MH2008PTC181958	ENVIROX PROJECTS COMPANY PRIVATE LIMITED	Additional director	21-12-09	21-12-09	16-09-10	Active	NO
U65910KA2007PTC043110	BRICS LEASING & FINANCE PRIVATE LIMITED	Additional director	07-05-11	07-05-11	-	Active	NO
U13203MH2008PTC184041	ORANE MINING COMPANY PRIVATE LIMITED	Additional director	24-05-11	24-05-11	-	Active	NO
U14200MH2011PTC224504	BELAZ-ENRIKA MINING EQUIPMENTS SERVICES PRIVATE LIMITED	Director	30-11-11	30-11-11	-	Active	NO
U85191MH2012NPL227027	JAGJIVAN FOUNDATION	Director	16-02-12	16-02-12	-	Active	NO

Name :

Mr. Nayan Jagjivan Arun

Designation :

Director

Address :

Ivorine Building, Flat No. 4, 6^th Floor, 154, Maharshi Karve Road, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

28.01.1965

Date of Appointment :

01.04.2005

DIN No.:

00109623

Other Directorship:

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
U65993MH1999PTC119562	ODYSSEY CAPITAL PRIVATE LIMITED	Director	26-02-00	26-02-00	Active	NO
U51900MH1950PTC008051	J V GOKAL AND COMPANY PRIVATE LIMITED	Director	28-09-05	01-04-05	Active	NO
U00000CH2004PLC027625	SPRAY ENGINEERING DEVICES LIMITED	Nominee director	08-08-07	19-12-06	Active	NO
U72200PN2005PTC020789	IPLUS TECHNOLOGIES PRIVATE LIMITED	Director	17-08-07	05-01-07	Active	NO
U74999MH2007PTC168537	PAYTRONIC NETWORK PRIVATE LIMITED	Director	09-03-07	09-03-07	Active	NO
U72200PN2006PTC129331	INDIAPROPERTIES.COM PRIVATE LIMITED	Director	14-06-08	25-06-07	Active	NO
U72900MH2007PTC173398	ACCORD FINTECH PRIVATE LIMITED	Director	24-09-08	15-07-08	Active	NO
U51909MH1995PTC161783	RAPID SUPPLIERS PRIVATE LIMITED.	Director	22-09-08	22-09-08	Active	NO
U51909MH2007PTC173284	MEET MERCANTILE PRIVATE LIMITED	Director	29-01-09	29-01-09	Active	NO
U72200MH2000PTC125338	MYZUS INFOTECH PRIVATE LIMITED	Director	30-09-09	20-05-09	Active	NO
U62200MH2007PTC172961	HELIGO CHARTERS PRIVATE LIMITED	Additional director	20-07-11	20-07-11	Active	NO
U40300MH2011PTC224685	INTERENERGO JVG ENGINEERING COMPANY PRIVATE LIMITED	Director	08-12-11	08-12-11	Active	NO
U85191MH2012NPL227027	JAGJIVAN FOUNDATION	Director	16-02-12	16-02-12	Active	NO

Name :

Mr. Bhavesh Ravindra Gokal

Designation :

Director

Address :

Flat No. 42, 3^rd Floor, CCI Chambers, Dinshaw Vachha Road, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

18.09.1972

Date of Appointment :

28.09.2005

DIN No.:

00061479

Other Directorship:

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
U65990MH1962PTC012244	CONSOLIDATED INVESTMENT PRIVATE LIMITED	Director	26-02-93	26-02-93	Active	NO
U29120MH1950PTC008293	NATIONAL IMPLEMENT (INDIA) PRIVATE LIMITED	Director	13-05-93	13-05-93	Active	NO
U74999MH1979PTC021430	RADIANT INTERNATIONAL PRIVATE LIMITED	Director	12-07-93	12-07-93	Active	NO
U65990MH1972PTC015558	YAMUNA INVESTMENTS PRIVATE LIMITED	Director	13-07-93	13-07-93	Active	NO
U67120MH1995PTC085121	J V GOKAL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	01-02-95	01-02-95	Active	NO
U01132MH1999PTC118046	GOKAL TEA PRIVATE LIMITED	Director	28-01-99	28-01-99	Active	NO
U51900MH1950PTC008051	J V GOKAL AND COMPANY PRIVATE LIMITED	Director	28-09-05	23-02-04	Active	NO
U63033MH2005PTC197169	O S S AIR MANAGEMENT PRIVATE LIMITED	Director	30-09-06	05-05-05	Active	NO
U15142MH1994PLC079578	VITAL VEGETABLE OILS AND PROTEINS LIMITED	Director	25-09-08	18-07-08	Strike off	NO

Name :

Mr. Bharat C Arya

Designation :

Director

Address :

09, Mayfair Road, Ballygunge, PS Karaya, Kolkata – 700019, West Bengal, India

Date of Birth/Age :

26.09.1952

Date of Appointment :

02.11.2009

DIN No.:

02912114

Other Directorship:

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
U51900MH1950PTC008051	J V GOKAL AND COMPANY PRIVATE LIMITED	Director	29-09-10	02-11-09	Active	NO
U13203MH2008PTC184041	Orane Mining Company Private Limited	Additional director	24-05-11	24-05-11	Active	NO

KEY EXECUTIVES

Name :	Mr. Praveen Kumar Jain
Designation :	Secretary
Address :	Flat No. 15, Om Shanti , Plot 1-2, Sector – 3, Vashi, Navi Mumbai, Thane – 400703, Maharashtra, India
Date of Birth/Age :	18.06.1980
Date of Appointment :	02.11.2009
Pan No.:	AGTPJ1748H

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares (Equity Share)	No. of Shares (Preference Share)
Nakul Arun Jagjivan	1248500	2167000
Ravindra Jagjivan Gokal and Shobhna R. Gokal	1248975	334200
Shobhna Ravindra Gokal	499	0
Consolidated Investments Pvt. Ltd.	26	0
Nilam Arun Gokal	1000	0
Nayan Arun Jagjivan	1000	0
Bhavesh Ravindra Gokal	0	1967800
TOTAL	2500000	4469000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Exporter of Teas, in Bulk and Tea Bags.
Brands :	GOKAL

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Export Import Bank of India, Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India
• United Bank of India, Mumbai Samchar Marg Branch, Foreign Exchage Department, 66/80 Mumbai Samchar Marg, Fort, Mumbai 400023, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	183.410	109.792
Working capital loans banks secured	63.464	30.517
Working capital loans others secured	29.195	19.589
Loans taken for vehicles secured	0.062	0.647
Other debt secured	1108.970	820.954
Total	1385.101	981.499
Footnotes (A) Against pledge of fixed deposits and personal guarantee of director (B) Against pledge of fixed deposits and personal guarantee of director (C) Against hypo. of goods meant for sale and personal guarantee of directors (D) Against hypo. of goods meant for sale and personal guarantee of directors (E) Packing Credit Worth Rs.548.220 millions and Advance Against Bills for Collection/ Bills Purchased Rs.560.750 millions (F) Packing Credit Worth Rs.405.255 millions and Advance Against Bills for Collection /Bills Purchased Rs.415.699 millions
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans others unsecured	36.341	9.280
Total	36.341	9.280

Banking Relations :	--
Auditors :
Name :	Parikh and Shah Chartered Accountant
Address :	Parikh and Shah Bhupati Chambers 1st Floor, Mathew Road, Opera House, Mumbai - 400004, Maharashtra, India
PAN.:	AAAFP1850B
Associate Companies/Enterprise over which Key Management Personnel or their relatives have significant influence or control :	J. V. Gokal Ceylon Private Limited J. V. Gokal Finance and Investments Private Limited J. V. Roulements International Private Limited Krizm Hotels Private Limited Lemon Tree Hotels Private Limited Mantrucks and Tractors (India) Private Limited Matrix Metallics Private Limited Meet Mercantile Private Limited Menaka Mills Limited Munoth Communication Limited Myzus Infotech Private Limited National Implement (India) Private Limited Odyssey Capital Private Limited Offshore Holdings Private Limited Pamban Aparel Limited Pandian Graphics Private Limited Paytronic Network Private Limited Purple Infotech Private Limited Radiant (International) Private Limited Rapid Suppliers Private Limited Ravileela Granites Limited Sheridan Environment Protection Private Limited Silica Tool Manufacturing and Allied Services Private Limited Spank Hotels Private Limited Spray Engineering Devices Limited Tangerine Hotels Private Limited Thiru Arooran Sugars Limited Valation Finance and Marketing Private Limited Vital Vegetables Oils And Proteins Limited Yamuna Investments Private Limited Yatish Trading Company Private Limited Zeus Environment Protection Private Limited J. V. Gokal and Company
Associates :	Accord Fintech Private Limited Auto Pins (India) Limited Adrienne Information Suppliers Private Limited Benchmark Asset Management Company Private Limited Brics Commodities Private Limited Brics Gilt Finance Private Limited Brics Leasing and Finance Private Limited Brics Realty (India) Private Limited Brics Securities Limited Cars & Carriages (India) Private Limited Chamundi Textiles (Silk Mills) Limited Consolidated Investments Private Limited Contrex Private Limited Corporate Courier and Cargo Limited Energenics India Private Limited Enrika Trades and Services Private Limited Envirox Protection Company Private Limited Equinox Impex Private Limited Esprit Energy Appliances Private Limited Foretell Business Solutions Private Limited Garden City Residences Finance Limited Globex Energia Private Limited Gokal Beverages (EPZ) Limited Gokal Tea Private Limited Gokal Trading (Kenya) Limited Green Lagoon Holdings Private Limited Heligo Charters Private Limited Hi Tech Industries Limited Indiaproperties.com Private Limited IPlus Technologies Private Limited
Subsidiaries :	OSS Air Management Private Limited JV Overseas Trading Limited Felicitous Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.100/- each	Rs.250.000 Millions
5000000	Preference Shares	Rs.100/- each	Rs.500.000 Millions
	TOTAL		Rs.750.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.100/- each	Rs.250.000 Millions
4469000	Preference Shares	Rs.100/- each	Rs.446.900 Millions
	TOTAL		Rs.696.900 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		696.900	726.400	726.400
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		424.644	338.561	276.403
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1121.544	1064.961	1002.803
LOAN FUNDS
1] Secured Loans		1385.101	981.499	806.509
2] Unsecured Loans		36.341	9.280	0.000
TOTAL BORROWING		1421.442	990.779	806.509
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		2542.986	2055.740	1809.312
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		291.310	274.710	379.066
Capital work-in-progress		211.692	87.807	0.000
INVESTMENT		661.561	530.982	530.981
DEFERREX TAX ASSETS		4.373	3.501	1.187
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	351.348	220.281	161.982
	Sundry Debtors	682.215	677.182	508.442
	Cash & Bank Balances	56.914	61.540	76.400
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	323.692	258.862	259.819
Total Current Assets		1414.169	1217.865	1006.643
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	38.530	59.125	108.380
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	1.589	0.000	0.185
Total Current Liabilities		40.119	59.125	108.565
Net Current Assets		1374.050	1158.740	898.078
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2542.986	2055.740	1809.312

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1522.712	1589.815	1344.638
		Other Income
		TOTAL (A)	1522.712	1589.815	1344.638
Less	EXPENSES
		Office Expenses	1251.375	1400.873	1244.822
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	1251.375	1400.873	1244.822
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		271.337	188.942	119.816
Less	FINANCIAL EXPENSES (D)		118.545	76.624	69.185
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		152.792	112.318	50.631
Less/ Add	DEPRECIATION/ AMORTISATION (F)		53.221	52.459	40.700
	PROFIT BEFORE TAX (E-F) (G)		99.571	59.859	9.931
Less	TAX (H)		13.488	(2.299)	2.493
	PROFIT AFTER TAX (G-H) (I)		86.083	62.158	7.438
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		296.605	240.662	233.224
Less	APPROPRIATIONS
		Transfer to Capital Reserve	29.500	0.000	0.000
		Transfer to General Reserve	8.600	6.215	0.000
	BALANCE CARRIED TO THE B/S		344.588	296.605	240.662
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. Value of Exports	1295.370	1436.841	1212.706
		Development/Other Expenses recovered	1.466	9.115	4.033
		Interest on Over dues from Debtors	6.991	0.000	0.000
		Interest on Import Advance/Loan	2.768	0.000	0.000
	TOTAL EARNINGS		1306.595	1445.956	1216.739
	IMPORTS
		Trading Goods (incl. purchases by SEZ unit)	901.095	827.616	632.399
		Capital Goods	99.133	3.495	69.286
		Packing Materials	81.840	69.170	64.119
		Spares & Tools	0.714	1.010	2.645
	TOTAL IMPORTS		1082.782	901.291	768.449
	Earnings Per Share (Rs.)		12.35	23.94	2.98

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.65	3.91	0.55
Return on Total Assets (PBT/Total Assets}	(%)	5.84	4.01	0.72
Return on Investment (ROI) (PBT/Networth)		0.09	0.06	0.01
Debt Equity Ratio (Total Liability/Networth)		1.30	0.99	0.91
Current Ratio (Current Asset/Current Liability)		35.25	20.60	9.27

LOCAL AGENCY FURTHER INFORMATION

Contingent Liability not provided for

Particulars	31st Mar, 2011	31st Mar, 2010
	Rs in MIllions
For Counter guarantee to the Bank against guarantee given to Government and other authorities	29.293	1.153
Corporate Guarantee given to Bank on behalf of Subsidiary / Associate Companies:
a) O.S.S. Air Management Private Limited	198.600	163.200
b) JV Overseas Trading Limited	93.100	631.960
c) Envirox Protection Co. Pvt. Limited	1087.200	0.000
In respect of Bond for availing duty exemption under EPCG Scheme	0.000	15.155
Sales Tax Demand contested in appeal	1.776	1.776
TOTAL	1409.969	813.244

FORM 8

Corporate identity number of the company	U51900MH1950PTC008051
Name of the company	J V GOKAL AND COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Kasturi Building, 171/172, Jamshedji Tata Road, Mumbai – 400020, Maharashtra, India Email: jvgokal@vsnl.com
This form is for	Creation of charge
Type of charge	Movable Property
Particular of charge holder	Export Import Bank of India, Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India Email: cbg@eximbankindia.in
Nature of instrument creating charge	Unattested Deed of Hypothecation of Movable fixed assets dated April 28, 2011 executed by J.V.Gokal and Company Private Limited ("The Comapny") in favour of Export-Import Bank of India ("Exim Bank")
Date of instrument Creating the charge	28.04.2011
Amount secured by the charge	Rs.500.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Fund Based facility: Interest Rate shall mean the rate of 12% p.a. payable monthly subject to reset as per facilities agreement Non Fund Based Facility: Commission payable is 3% p.a. plus service tax Terms of Repayment Unless the Comapny prepays the Loan, the fund based facility shall be repaid by the Company in bullet at the end of two years from the date of first disbursement. Non fund based facility will be valid for a maximum of two years Margin 27% Extent and Operation of the charge The charge shall operate as pari passu first charge on entire movable fixed assets of the company. Others Amount specified at 12 A shall be available both as a fund based and non fund based facility.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	The whole of Company's moveable fixed assets both present and future and more particularly described in Schedule III of Deed of Hypothecation.

FIXED ASSETS

• Land (Freehold)
• Building
• Electrical Installation
• Equipments/ Appliance and Tools
• Furniture and Fixture
• Computer
• Vehicle
• Computer Software

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.
UK Pound	1	Rs.
Euro	1	Rs.

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		50

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.