MIRA INFORM REPORT

Report Date :

04.05.2012

IDENTIFICATION DETAILS

Name :	ARAMBAGH HATCHERIES LIMITED
Registered Office :	P O Arambagh, District Hooghly – 712601, West Bengal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	15.12.1973
Com. Reg. No.:	21-029137
Capital Investment / Paid-up Capital :	Rs.15.120 Millions
CIN No.: [Company Identification No.]	U0122WB1973PLC029137
TAN No.: [Tax Deduction & Collection Account No.]	CALA00346D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Food Processing Unit and Poultry Integrated.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Under Liquidation
Payment Behaviour :	--
Litigation :	Exist
Comments :	As per available information the company is under liquidation process. The court has already passed winding-up order of the company. Initially, the company can be considered for business dealings on a safe and secured 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 :	P O Arambagh, District Hooghly – 712601, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	secretarial@arambagh.com arambagh@cal.vsnl.net.in
Head Office :	59 B, Chowringhee Road, Kolkata – 700020, West Bengal, India
Tel. No.:	91-33-22832561

DIRECTORS

As on 30.09.2010

Name :

Mr. Prasun Kumar Roy

Designation :

Managing director

Address :

PO ST Office, Arambagh, Hooghly – 712601, West Bengal, India

Date of Birth/Age :

22.12.1949

Date of Appointment :

15.12.1973

Date of Ceasing :

02.05.2012

DIN No.:

00109867

Other Directorship :

S.No.	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
1	U01222WB1973PLC029137	ARAMBAGH HATCHERIES LIMITED	Managing director	27/09/2009	15/12/1973	2/05/2012	Active	NO
2	U24129WB1978PTC031801	ROY'S FERTILISERS PRIVATE LIMITED	Director	7/12/1978	7/12/1978	-	Active	NO
3	U25111WB1974PLC029215	EVERGOOD AGRO INDUSTRIES LIMITED	Director	29/06/1982	29/06/1982	-	Active	NO
4	U15143WB1990PTC049494	ARAMBAGH SOLVENT EXTRACTION PRIVATE LIMITED	Director	27/07/1990	27/07/1990	-	Active	NO
5	U26101WB1992PLC054200	ARAMBAGH HATCHERIES EXPORTS LIMITED	Director	22/01/1992	22/01/1992	-	Active	NO
6	U24121WB1970PTC027867	CALCUTTA BONE MILLS AND FERTILIZERS PRIVATE LIMITED	Director	29/09/1993	29/09/1993	-	Active	NO
7	U15412WB1994PTC066021	INDUSS FARM HOUSE PRODUCTS PRIVATE LIMITED	Director	11/11/1997	11/11/1997	-	Active	NO
8	U74999MH2002NPL137058	POULTRY PROCESSORS' ASSOCIATION OF INDIA	Director	3/09/2002	3/09/2002	-	Active	NO
9	L29307WB1990PLC048350	WEBSOL ENERGY SYSTEM LIMITED	Director	30/12/2005	30/12/2005	20/01/2009	Active	NO

Name :

Mr. Nihar Ranjan Chakravarty

Designation :

Director

Address :

18/43, Ballygunge Place, East Kolkata – 700010, West Bengal, India

Date of Birth/Age :

01.11.1925

Date of Appointment :

15.07.1996

Date of Ceasing :

02.05.2012

DIN No.:

00110297

Other Directorship :

S.No.	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
1	U15143WB1990PTC049494	ARAMBAGH SOLVENT EXTRACTION PRIVATE LIMITED	Director	26/07/1993	26/07/1993	-	Active	NO
2	U01222WB1973PLC029137	ARAMBAGH HATCHERIES LIMITED	Director	15/07/1996	15/07/1996	2/05/2012	Active	NO
3	U24121WB1970PTC027867	CALCUTTA BONE MILLS AND FERTILIZERS PRIVATE LIMITED	Director	15/07/1996	15/07/1996	-	Active	NO
4	U15412WB1994PTC066021	INDUSS FARM HOUSE PRODUCTS PRIVATE LIMITED	Director	11/11/1997	11/11/1997	-	Active	NO
5	U25111WB1974PLC029215	EVERGOOD AGRO INDUSTRIES LIMITED	Director	29/09/1999	29/09/1999	-	Active	NO
6	U26101WB1992PLC054200	ARAMBAGH HATCHERIES EXPORTS LIMITED	Director	20/04/2002	20/04/2002	-	Active	NO
7	U24129WB1978PTC031801	ROY’S FERTILISERS PRIVATE LIMITED	Director	29/06/2004	29/06/2004	-	Active	NO

Name :

Mrs. Jaya Roy

Designation :

Director

Address :

108, Manicktala Main Roadm, Kolkata – 700054, West Bengal, India

Date of Birth/Age :

10.09.1950

Date of Appointment :

09.02.1996

Date of Ceasing :

02.05.2012

DIN No.:

00110055

Other Directorship :

S.No.	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
1	U24129WB1978PTC031801	ROY’S FERTILISERS PRIVATE LIMITED	Director	12/01/1991	12/01/1991	-	Active	NO
2	U01222WB1973PLC029137	ARAMBAGH HATCHERIES LIMITED	Director	9/02/1996	9/02/1996	2/05/2012	Active	NO
3	U15143WB1990PTC049494	ARAMBAGH SOLVENT EXTRACTION PRIVATE LIMITED	Director	19/07/1996	19/07/1996	-	Active	NO
4	U26101WB1992PLC054200	ARAMBAGH HATCHERIES EXPORTS LIMITED	Director	16/09/2009	24/07/2009	-	Active	NO
5	U25111WB1974PLC029215	EVERGOOD AGRO INDUSTRIES LIMITED	Director	16/09/2009	24/07/2009	-	Active	NO
6	U74999WB2012PTC174417	ARAMBAGH FOODMART PRIVATE LIMITED	Director	18/02/2012	18/02/2012	-	Active	NO

Name :

Mrs. Bishakha Datta

Designation :

Director

Address :

PO ST Office, Arambagh, Hooghly – 712601, West Bengal, India

Date of Birth/Age :

07.01.1945

Date of Appointment :

17.01.1989

Date of Ceasing :

02.05.2012

DIN No.:

01303035

Other Directorship :

S.No.	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
1	U51909WB1955PTC022135	B K ROY PRIVATE LIMITED	Director	17/01/1989	17/01/1989	-	Active	NO
2	U01222WB1973PLC029137	ARAMBAGH HATCHERIES LIMITED	Director	17/01/1989	17/01/1989	2/05/2012	Active	NO
3	U51109WB1948PLC016550	PALLISHREE LIMITED	Director	17/01/1989	17/01/1989	-	Active	NO
4	U15143WB1990PTC049494	ARAMBAGH SOLVENT EXTRACTION PRIVATE LIMITED	Director	19/07/1996	19/07/1996	-	Active	NO
5	U51109WB1991PLC053442	BIRBHUM CHEMICALS AND FERTILISERS LIMITED	Director	7/07/2008	1/02/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Amiya Roy	1700
Bipasha Datta	3700
Bishakha Datta	39555
Baibhab Kumar Roy	2300
Jaya Roy	3950
Namita Roy	5255
Nihar Ranjan Chakraborty	112500
Prasun Kumar Roy	154755
Prativa Rani Dey	950
Patit Paban Roy	42305
Prasad Dutta	1650
Prasun Kumar Roy and Biyas Roy	75000
Shyama Prasad Sarkar	1275
Subhendu Kr Dutta	1500
Prasun Kumar Roy	290000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Bodies corporate	37.30
Directors or relatives of Directors	61.34
Other top fifty shareholders	1.36
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Food Processing Unit and Poultry Integrated.

Products :

PRODUCT DESCRIPTION	ITC CODE NO.
Day Old Chicks	01.05
Poultry Feed	23.09
Chicken Meat	02.07

PRODUCTION STATUS

Particulars	Unit	31.03.2009
FEED PRODUCED
a) Installed capacity of Machine	M. T.	174000.000
b) Actual production of Feed	M. T.	40211.420

Particulars	Unit	31.03.2009
DRESSED CHICKEN MEAT PRODUCED
a) Installed Capacity of Machine (Per 8 hour shift)	M. T.	4800.000
b) Actual Production of Meat	M. T.	2095.807

Installed capacity has been estimated by the Management

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· UCO Bank

· United Bank of India

· Allahabad Bank

· UTI Bank Limited

· Oriental Bank of Commerce

· Central Bank of India

· ICICI Bank Limited

· Indian Overseas Bank

· Canara Bank

· Bank of India

· Indian Bank

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Term Loan from Banks and Institutions (i)	1079.548	876.747
Soft loan from Government of India (ii)	4.160	4.160
Working Capital from Banks (iii) (including Export Packing Credit)	972.056	1087.486
Total	2055.764	1968.393

Notes :

(i) These loans are secured by Joint Equitable Mortgage of immovable properties and hypothecation of the whole of the movable assets of the Company including movable plant and machinery, machinery spare parts and accessories and other movables partly of pari passu first charge basis and partly on exclusive first charge of the Banks/Institution.

(ii) Secured by the Guarantee extended by Allahabad Bank

(iii) Cash Credit and Working Capital Demand Loan from Banks are secured by way of pari passu first charge on Company's stocks (not relating to plant, machinery and equipment), Bills, Receivables, Book Debts and other movables as also pari passu second charge on fixed assets mentioned in Note (i) above.

All the Loans are also secured by the Personal Guarantee of the Managing Director of the Company.

Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Others	18.232	34.223
Total	18.232	34.223

Banking Relations :	--
Auditors :
Name :	Basu and Company Chartered Accountants
Address :	Taher Mansion 8, Bentinck Street, 2^nd Floor, Kolkata-700001, West Bengal, India
Tel. No.:	91-33-22487212/22435033
E-Mail :	basu_co@yahoo.co.in
PAN.:	ACWPB3057E
Subsidiaries :	Arambagh Hatcheries Exports Limited CIN No.: U26101WB1992PLC054200

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1335670	Equity Shares	Rs.10/- each	Rs.13.357 Millions
176330	Equity Shares issued as fully paid up pursuant to a contract without payment being received in cash	Rs.10/- each	Rs.1.763 Millions
	TOTAL		Rs.15.120 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Share Capital		15.120	15.120	15.120	15.120	15.120
2] Share Application Money		0.000	0.000	0.000	0.000	0.000
3] Reserves & Surplus		99.257	47.287	227.619	414.977	374.900
4] (Accumulated Losses)		0.000	0.000	0.000	0.000	0.000
NETWORTH		114.377	62.407	242.739	430.097	390.020
LOAN FUNDS
1] Secured Loans		2055.764	1968.393	1863.697	1678.675	1476.608
2] Unsecured Loans		18.232	34.223	44.424	24.190	95.880
TOTAL BORROWING		2073.996	2002.616	1908.121	1702.865	1572.488
DEFERRED TAX LIABILITIES		2.950	5.772	9.687	13.519	18.062
TOTAL		2191.323	2070.795	2160.547	2146.481	1980.570
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		465.595	494.270	533.160	572.350	565.510
Capital work-in-progress		0.000	0.000	0.000	0.000	0.000
INVESTMENT		2.582	2.583	2.582	2.582	3.353
DEFERREX TAX ASSETS		0.000	0.000	0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	959.670	819.990	911.945	926.775	858.913
	Sundry Debtors	687.590	673.074	649.628	515.006	469.802
	Cash & Bank Balances	20.574	20.634	18.204	38.464	25.245
	Other Current Assets	0.000	0.000	0.000	0.000	0.000
	Loans & Advances	242.485	251.324	250.083	252.343	247.601
Total Current Assets		1910.319	1765.022	1829.860	1732.588	1601.561
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	82.283	81.742	81.755	71.772	114.538
	Other Current Liabilities	49.495	48.843	64.025	31.242	21.091
	Provisions	55.395	60.495	59.275	58.025	54.225
Total Current Liabilities		187.173	191.080	205.055	161.039	189.854
Net Current Assets		1723.146	1573.942	1624.805	1571.549	1411.707
MISCELLANEOUS EXPENSES		0.000	0.000	0.000	0.000	0.000
TOTAL		2191.323	2070.795	2160.547	2146.481	1980.570

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2010	31.03.2009	31.03.2008	31.03.2007	31.03.2006
	SALES
		Income		1421.120	1339.294	1903.647	1849.778	1783.510
		Other Income		228.262	23.618	5.012	7.163	6.161
		TOTAL		1649.382	1362.912	1908.659	1856.941	1789.671
Less	EXPENSES
		Adjustment for finished goods		267.869	368.042	181.872	265.215	33.596
		Raw Materials Consumed		765.219	559.919	1129.894	887.073	986.782
		Other Expenses		478.369	550.055	709.634	583.412	652.778
		TOTAL		1511.457	1478.016	2021.400	1735.700	1673.156
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			137.925	(115.104)	(112.741)	121.241	116.515
Less/ Add	DEPRECIATION/ AMORTISATION			62.751	68.923	78.199	82.907	81.588
	PROFIT/ (LOSS) BEFORE TAX			75.174	(184.027)	(190.940)	38.334	34.927
Less	TAX			0.079	(3.695)	(3.582)	(1.743)	(0.939)
	PROFIT/ (LOSS) AFTER TAX			75.095	(180.332)	(187.358)	40.077	35.866
Less	TAXATION FOR EARLIER YEARS (ADJUSTMENT)			23.125	0.000	0.000	0.000	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			6.863	187.195	374.553	334.476	298.610
	BALANCE CARRIED TO THE B/S			58.833	6.863	187.195	374.553	334.476
	EARNINGS IN FOREIGN CURRENCY
			Export of Goods	NA	0.000	1.018	3.253	NA
	TOTAL EARNINGS			NA	0.000	1.018	3.253	NA
	IMPORTS
			Raw Materials	NA	0.000	0.000	1.801	NA
			Capital Goods & components	NA	0.000	0.057	1.216	NA
	TOTAL IMPORTS			NA	0.000	0.057	3.017	NA
	Earnings/ (Loss) Per Share (Rs.)			49.67	NA	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008	31.03.2007	31.03.2006
PAT / Total Income	(%)	4.55	(13.23)	(9.82)	2.16	2.00
Net Profit Margin (PBT/Sales)	(%)	5.29	(13.74)	(10.03)	2.07	1.96
Return on Total Assets (PBT/Total Assets}	(%)	3.16	(8.15)	(8.08)	1.66	1.61
Return on Investment (ROI) (PBT/Networth)		0.66	2.95	0.79	0.09	0.09
Debt Equity Ratio (Total Liability/Networth)		19.76	35.15	8.71	4.33	4.52
Current Ratio (Current Asset/Current Liability)		10.21	9.23	8.92	10.76	8.44

LOCAL AGENCY FURTHER INFORMATION

Calcutta High Court

Arambagh Hatcheries Limited vs Unknown on 2 April, 2012

Author: Sanjib Banerjee

ORDER SHEET

CP No. 60 of 2010

IN THE HIGH COURT AT CALCUTTA ORIGINAL JURISDICTION

IN THE MATTER OF:

ARAMBAGH HATCHERIES LTD. -AND-

ICICI BANK

BEFORE:

The Hon'ble JUSTICE SANJIB BANERJEE Date : 2nd April, 2012. APPEARANCE:

Ms. Suchismita Banerjee, Adv. Ms. Ruma Sikdar, Adv.

The Court: Since a winding-up order has already been passed and an appeal carried from such order, CP No. 60 of 2010 should go out of the list and be dealt with in accordance with the orders passed by the Appeal Court. certified copy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities. (SANJIB BANERJEE, J.)

Calcutta High Court

Arambagh Hatcheries Limited vs Commissioner of Income-Tax ... on 11 March, 2011

Author: Bhaskar Bhattacharya

ITA No. 267 of 2004

IN THE HIGH COURT AT CALCUTTA

Special Jurisdiction (Income-tax)

Original Side

ITA 267 of 2004

Arambagh Hatcheries Limited

Versus

Commissioner of Income-Tax Kolkata-XX

ITA 268 of 2004

Arambagh Hatcheries Limited

Versus

Commissioner of Income-Tax Kolkata-XX

ITA 269 of 2004

Arambagh Hatcheries Limited

Versus

Commissioner of Income-Tax Kolkata-XX

For Appellant: Mr. N.K.Poddar, Sr.Advocate with Mr. Vineet Gibrewal and Mr. D.K.Kadel, Advocates

For Respondent: Mr. Dipak Som, Sr.Advocate with Md. Nizamuddin, Advocate

BEFORE:

The Hon'ble JUSTICE BHATTACHARYA

The Hon'ble JUSTICE DR. SAMBUDDHA CHAKRABARTI

Date: 11th March, 2011.

THE COURT: All these three appeals are taken up for hearing analogously as the points involved therein are almost similar in nature.

2

A Division Bench of this Court on the selfsame date, namely, 11th May, 2004 admitted all these three appeals and it appears that these three appeals were admitted on three formulated questions. The formulated question Nos. 2 and 3 are common in all these three appeals except the relevant assessment year and amount involved therein. We, therefore, quote the aforesaid Point Nos.2 and 3 in ITA 267 of 2004 which will virtually cover the issue involved in other two appeals, namely, ITA 268 of 2004 and ITA 269 of 2004.

"II. Whether the amendment made in section 43B of the Income Tax Act, 1961 by the Finance Act, 2003 is clarificatory and thereby retrospective in nature in the light of the principles laid down by the Hon'ble Supreme Court in Allied Motors Private Limited. v. CIT (1997) 224 ITR 677 (SC)."

"III. If the answer to Question No.II above is in the affirmative, whether the disallowance of Rs.1.641 /Rs.1.978 Millions in the instant case in respect of the assessment year 1996-97 under section 43B of the Income Tax Act, 1961 was justified in law on merits, and whether it could be said to be covered by section 154 of the Income Tax Act, 1961".

However, Point No.1 formulated in ITA No.267 of 2004 is to the following effect:-

3

"I. Whether on the facts and in the circumstances of the case and on a correct interpretation of section 43B of the Income Tax Act, 1961, the Income Tax Appellate Tribunal, 'A' Bench, Kolkata misdirected itself in law in confirming the disallowance of Rs.16,41,868/Rs.19,78,037 in respect of the assessment year 1996-97 through the impugned proceedings under section 154 of the said Act, in so far as it held that there was a mistake apparent from record within the meaning of section 154 of the Income Tax Act, 1961 in the instant case and whether its such finding was wholly unreasonable and/or otherwise perverse".

Similarly, in ITA No.268 of 2004 and ITA No.269 of 2004, Point No.1 formulated by the Division Bench is respectively quoted below :-

"I. Whether on the facts and in the circumstances of the case and on a correct interpretation of section 43B of the Income Tax Act, 1961, the Income Tax Appellate Tribunal, 'A' Bench, Kolkata misdirected itself in law in confirming the disallowance of Rs.0.409 Million in respect of the assessment year 1997-98." "I. Whether on the facts and in the circumstances of the case and on a correct interpretation of section 43B of the Income Tax Act, 1961, the Income Tax Appellate Tribunal, 'A' Bench, Kolkata misdirected itself in law in 4 confirming the disallowance of Rs.3.992 Millions in respect of the assessment year 1998-99"

After hearing the learned counsel for the parties and after going through the materials on record, we find that the most vital question involved in these three appeals is whether the amendment made in section 43B of the Income-tax Act 1961 by the Finance Act, 2003 is clarificatory and thereby retrospective in nature. If the aforesaid question is answered in favour of the assessee, in that event, Point No.3 formulated in all these three appeals should be answered in favour of the assessee inasmuch as the Tribunal below disallowed the amount of deposit towards provident fund on the sole ground that those were delayed deposit in terms of Section 36(1)(va) read with Section 43B of the Act.

In our opinion, in view of the subsequent decision of the Supreme Court in the case of Commissioner of Income Tax vs. Alom Extrusions Limited. reported in (2009) 318 ITR 306 (SC) whereby it has followed the earlier decision of that Court in the case of Allied Motors Private Limited vs. CIT (1997) 224 ITR 677(SC) to the effect that the said amendment is retrospective in nature, the assessee should get the benefit of the amended provision as the deposit made was 5 within the time prescribed in section 139(1) read with Section 43B of the Act and, therefore, the order of the Tribunal below disallowing the benefit of the amendment to the assessee cannot be supported.

We, therefore, answer the second question in the affirmative and the third question in the negative.

In view of the applicability of the aforesaid amended provision of Section 43B of the Act, the first question formulated in all these three appeals is answered in the affirmative and in favour of the assessee.

All these three appeals are, thus, disposed of in terms of our aforesaid decision by setting aside the order passed

by the Tribunal below.

In the facts and circumstances of the case, there will be no order as to costs.

Photostat certified copy of this order be made available to the parties upon compliance of usual formalities.

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 five years	Yes
12) Profitability for last five 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	Yes
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	--
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	No
30) Major Shareholders, if available	Yes

INDUSTRY SCENARIO

From April 2009 till November 2009 the poultry scenario all over the country continued to be bleak.

(a) Fresh outbreaks of Bird Flu occurred in West Bengal, Assam and Sikkim.

(b) Export of Poultry continued to be banned.

(c) Consumption of poultry products as well as prices remained stagnant.

(d) Global Economic downturn had its effect on the industry.

From December 2009 the market started reviving. Consumer confidence for poultry meat consumption resumed. Continued losses had a major effect on production, resulting in decline in availability of chicken. Prices started rising as demand surpassed availability.

The company took certain measures resulting in minimization of its losses.

(a) The company was able to have strategic alliances with Suguna, Japfa and other companies for utilization of idle capacities resulting in an annual income of Rs.19.100 Millions.

(b) The company received interest subvention of Rs.69.700 Millions, a relief granted by the Government of India.

(c) The Food Mart Division of the company was able to obtain Display Charges from major Companies, the Hindusthan Lever, Godrej to add to the bottom line.

(d) KFC continued to support the company by way of increased purchases and allotting new stores for supplies.

The company was able to end the year on a modest profit of Rs.75.173 Millions.

The directors are of the opinion that the fear of bird flu affecting chicken sales and prices will be a thing of the past with consumer confidence returning back, and the industry should see robust growth and attractive rates in the future years to come.

The need of the hour will be fast capacity utilization by the company.

PROFIT AND LOSS ACCOUNT

During the year, the Company earned a profit of Rs.75.100 Millions compared to previous year’s loss of Rs.180.300 Millions.

TURNOVER

The Company’s turnover during the year under review has been Rs.1649.400 Millions compared to Rs.1362.900 Millions recorded in the previous year.

PROJECTS

The ongoing plans for increase in Food-Marts have been kept on hold. The directive expect improvement in the company overall financial position in the next years and plans for next projects will be taken on selective basis.

Bankers Charges Report as per Registry

Corporate identity number of the company	U01222WB1973PLC029137
Name of the company	ARAMBAGH HATCHERIES LIMITED
Address of the registered office or of the principal place of business in India of the company	P O Arambagh, District Hooghly-712601, West Bengal, India Email : secretarial@arambagh.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80053843
Type of charge	Immovable property
Particular of charge holder	UCO Bank (Lead Bank) and Other Banks, MID Corporate Branch, 10, B. T. M. Sarani (Brabourne Road), Kolkata-700001, West Bengal, India Email : bo.mcckolmain@ucobank.co.in
Nature of instrument creating charge	Memorandum of entry for extension of joint mortgage
Date of instrument Creating the charge	22.03.2011
Amount secured by the charge	Rs.1835.027 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest shall be charged on the outstandings in the said account(s) at such rate or rates as may be determined by the banks from time to time Terms of Repayment Term Loan: repayable as per existing repayament schedule Working Capital: repayable on demand Margin As applicable Extent and Operation of the charge Term Loan: by way of first charge ranking pari passu among other term lenders under consortium Working Capital: by way of second charge ranking pari passu among working capital lenders under UCO Bank consortium Others All the mortgaged assets shall be insured against loss or damage under bank clause. Other terms and conditions under common loan agreement and working capital consortium agreement
Short particulars of the property or asset(s) charged (including complete address and location of the property)	JOINT equitable mortgage of company's immovable properties situated at (1) mouza. Telipara, P.S. Arambagh, Distrcit Hooghly, West Bengal, India (2) mouza. Fakirdas, P.S. Rajnagar, District Birbhum, West Bengal, India (3) mouza. Icharia P.S. Sonamukhi, District Bankura, West Bengal, India (4) mouza. Mazuria, P.S. Ghuskara, District Burdwan and various places in the state of West Bengal memorandum of entry together with all buildings, factory sheds, structures, bunglows, outhouses, godowns and immovable plant and machinery constructed, erected and/or installed thereon both present and future
Date of instrument modifying the charge	28.04.2009
Particulars of the present modification	The company has extended the joint equitable mortgage in favour of consortium member banks by way of constructive delivery of title deeds in respect of all immovable properties situated at various places in West Bengal of memorandum of entry to secure the enhanced overall credit facilities of Rs.1835.027 Millions comprising of term loan of Rs.798.327 Millions and working capital limit of Rs.1036.700 Millions. All other terms and conditions remain unaltered.

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Road Construction

· Poultry Equipment

· Furniture and Fixture

· Electrical Installation

· Deep Fridge

· Delivery Van

· Incubator and Setter

· Cycle

· Computer

· Water Treatment and District Plant

· Vehicles

· Office Machinery

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.53.24
UK Pound	1	Rs.86.14
Euro	1	Rs.69.98

INFORMATION DETAILS

Report Prepared by :

CTI

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.