MIRA INFORM REPORT

Report Date :

10.05.2012

IDENTIFICATION DETAILS

Name :	CROPGEN BIO SOLUTIONS PRIVATE LIMITED
Registered Office :	6-4-73, Bholakpur, Secunderabad – 500080, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	12.03.2011
Com. Reg. No.:	073206
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U24120AP2011PTC073206
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Agro Fertilizer, Seeds, Agro Chemical Products etc.
No. of Employees :	8 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 11000
Status :	New Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively new company and profitability itself gradually. The company has achieved a sizeable turnover from its first year of operation. Trade relations are reported as for. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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

INFORMATION PARTED BY

Name :	Mr. Ganesh
Designation :	Director
Contact No.:	91-9848273913
Date :	09.05.2012

LOCATIONS

Registered Office/ Factory 1 :	6-4-73, Bholakpur, Secunderabad – 500080, Andhra Pradesh, India
Tel. No.:	91-40-65790722
Mobile No.:	91-9848273913 (Mr. Ganesh)
Fax No.:	Not Available
E-Mail :	achantaganesh@gmail.com ganeshachanta@yahoo.co.in clientdin@gmail.com
Location :	Owned
Factory 2:	Survey No.287, Palli, Jet Charan Mandel, Mehbob Nagar, Andhra Pradesh, India
Branch Office :	6-3-359/14, Hindi Nagar Colony, Punjagutta, Hyderabad – 500032, Andhra Pradesh, India

DIRECTORS

Name :

Mr. Achanta Gouri Sanker Ganesh

Designation :

Director

Address :

6-4-73, Bholakpur, Secunderabad – 500080, Andhra Pradesh, India

Date of Birth/Age :

31.03.1968

Qualification :

M. Com, CA

Date of Appointment :

12.03.2011

DIN No.:

00381170

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	U01100AP2005PTC045337	SASYA GREEN ENERGY PRIVATE LIMITED	Director	11/2/2005	11/2/2005	-	Active	NO
2	U01119AP2009PTC063509	PLANGEN AGRO SCIENCES PRIVATE LIMITED	Director	1/5/2009	1/5/2009	28/02/2012	Active	NO
3	U74140AP2005PTC048124	KAUTILYA CORPORATE SERVICES PRIVATE LIMITED	Director	30/09/2011	23/11/2010	-	Active	NO
4	U24120AP2011PTC073206	CROPGEN BIO SOLUTIONS PRIVATE LIMITED	Director	12/3/2011	12/3/2011	-	Active	NO

Name :

Mr. B. Vinay Kumar

Designation :

Director

Qualification :

Msc. Agriculture

Name :

Mr. Suresh Revuru

Designation :

Director

Address :

9-27 (103), Radhakrishna Nagar, Lane No.3, R K Nagar, Balanagar, Rangareddy – 500037, Andhra Pradesh, India

Date of Birth/Age :

11.06.1972

Date of Appointment :

12.03.2011

DIN No.:

03009829

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	U01119AP2010PTC067931	AGROGENE SEEDS AND CROP GENETICS PRIVATE LIMITED	Director	13/04/2010	13/04/2010	-	Active	NO
2	U92412AP2010PTC070912	COMFORT VACATIONS INDIA PRIVATE LIMITED	Director	21/10/2010	21/10/2010	-	Active	NO
3	U24120AP2011PTC073206	CROPGEN BIO SOLUTIONS PRIVATE LIMITED	Director	12/3/2011	12/3/2011	15/03/2012	Active	NO
4	U52190AP2011PTC074954	FIRST LEAGUE RETAIL OUTLETS PRIVATE LIMITED	Director	13/06/2011	13/06/2011	21/03/2012	Active	NO
5	U45400AP2011PTC073056	FIRST LEAGUE ESTATES PRIVATE LIMITED	Additional director	12/8/2011	12/8/2011	6/4/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 26.02.2011)

Names of Shareholders	No. of Shares
Achanta Gouri Sanker Ganesh	5000
Suresh Revuru	5000
Total	10000

BUSINESS DETAILS

Line of Business :	Manufacturer of Agro Fertilizer, Seeds, Agro Chemical Products etc.
Terms :
Selling :	Cash and Credit (30-60 days)
Purchasing :	Cash and Credit (30-60 days)

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

8 (Approximately)

Bankers :

· Canara Bank

Balanagar Branch, Door No.6-3-2, First Floor, Above Anand Bhavan, Main Road, Balanagar, Hyderabad - 500042, Andhra Pradesh, India

Facilities :

Secured Loans	31.03.2012 (Rs. In Millions)
CC with Canara bank	4.738
Total	4.738
Unsecured Loans	31.03.2012 (Rs. In Millions)
Un-secured Loans From Promoters and Associates	1.000
Total	1.000

Banking Relations :	--
Auditors :
Name :	T C Rao Chartered Accountant

CAPITAL STRUCTURE

(AS ON 31.03.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

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		31.03.2012
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		2.000
3] Reserves & Surplus		0.532
4] (Accumulated Losses)		0.000
NETWORTH		2.632
LOAN FUNDS
1] Secured Loans		4.738
2] Unsecured Loans		1.000
TOTAL BORROWING		5.738
DEFERRED TAX LIABILITIES		0.000
TOTAL		8.370
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.293
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.393
	Sundry Debtors	3.292
	Cash & Bank Balances	0.082
	Other Current Assets	0.000
	Loans & Advances	0.175
Total Current Assets		8.942
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.674
	Other Current Liabilities	0.000
	Provisions	0.228
Total Current Liabilities		0.902
Net Current Assets		8.040
MISCELLANEOUS EXPENSES		0.037
TOTAL		8.370

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012
	SALES
		Income	50.474
		Other Income	0.000
		TOTAL (A)	50.474
Less	EXPENSES
		Materials Consumed and Factory Expenses	44.430
		Employees Remunerations and Benefits	0.923
		Selling and Distribution Expenses	3.186
		Administrative and Other Expenses	0.656
		Preliminary Expenses Written off	0.009
		TOTAL (B)	49.204
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.270
Less	FINANCIAL EXPENSES (D)		0.462
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.808
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.047
	PROFIT BEFORE TAX (E-F) (G)		0.761
Less	TAX (H)		0.229
	PROFIT AFTER TAX (G-H) (I)		0.532
	Earnings Per Share (Rs.)		53.20

Expected Sales (2012-13): Rs.80.000 Millions

The above information has been parted by Mr. Ganesh.

KEY RATIOS

PARTICULARS		31.03.2012
PAT / Total Income	(%)	1.05
Net Profit Margin (PBT/Sales)	(%)	1.51
Return on Total Assets (PBT/Total Assets}	(%)	8.24
Return on Investment (ROI) (PBT/Networth)		0.29
Debt Equity Ratio (Total Liability/Networth)		2.52
Current Ratio (Current Asset/Current Liability)		9.91

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
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last one years	Yes
Profitability for last one years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

FORM 8:

Corporate identity number of the company	U24120AP2011PTC073206
Name of the company	Cropgen Bio Solutions Private Limited
Address of the registered office or of the principal place of business in India of the company	6-4-73, Bholakpur, Secunderabad – 500080, Andhra Pradesh, India achantaganesh@gmail.com
This form is for	Creation of charge
Type of charge	Book Debts Movable Property
Particular of charge holder	Canara Bank Balanagar Branch, Door No. 6-3-2, First Floor, Above Anand Bhavan Hotel, Main Road, Balanagar, Hyderabad – 500042, Andhra Pradesh, India cb0625@canarabank.com
Nature of description of the instrument creating or modifying the charge	1. Sanction Memorandum 2. Cash Credit Agreement
Date of instrument Creating the charge	11/07/2011
Amount secured by the charge	Rs.5.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest Rate of Interest at 15.25% the interest stipulated is subject to changes as decided by the bank from time to time Terms of Repayment Repayment 12 Monthly Installments Margin Margin 25% on Stocks and 40% on Book Debts Extent and Operation of the charge Hypothecation of Stocks and Book Debts
Short particulars of the property charged	EMT of residential land admeasuring 121.96 Sq Yds, and bearing 3292.11 Sq fts, situated at 6-4-73,74,75, Bholakpur, Secunderabad in the name of Mr. A G S Ganesh Valued Rs. 5.445 Millions EMT of open Plot admeasuring 116.50 Sq yds at H No. 6-4-108, (part) Bholakpur, Secunderabad in the name of Mrs. A V S L Prashanti Valued Rs. 2.330 Millions EMT of open Plot admeasuring 26 Sq yds situated at H No. 6-4-104 to 108 (part), Bholakpur, Secunderabad in the name of Mrs. Ch Sorede, Valued Rs. 0.520 Million

FIXED ASSETS:

· Computer

· Furniture

· 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 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.52.85
UK Pound	1	Rs.85.44
Euro	1	Rs.68.81

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		26

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.