MIRA INFORM REPORT

Report Date :

21.05.2012

IDENTIFICATION DETAILS

Name :	PRAMUKH EXIM PRIVATE LIMITED
Registered Office :	108, Anam Commercial Complex, Plot No.37, Sector-9, Gandhidham – 370201, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.08.2009
Com. Reg. No.:	04-057783
Capital Investment / Paid-up Capital :	Rs.1.500 Millions
CIN No.: [Company Identification No.]	U51102GJ2009PTC057783
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Exporter of Solt, Bentonite and Importer of Timber and West Paper.
No. of Employees :	5 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 7000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a successor of Pramukh International, Proprietory Concern established in the year 2004. Subject is an 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 normal for business dealings at usual trade terms and conditions.

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

INFORMATION PARTED BY

Name :	Mr. Pushpendra S. Thakker
Designation :	Director
Contact No.:	91-9925046783
Date :	19.05.2012

LOCATIONS

Registered Office :	108, Anam Commercial Complex, Plot No.37, Sector-9, Gandhidham – 370201, Gujarat, India
Tel. No.:	91-2836-227733
Mobile No.:	91-9925046783 (Mr. Pushpendra S. Thakker)
Fax No.:	91-2836-261797/ 227795
E-Mail :	pramukhintl@gmail.com catirath@gmail.com niruppomal@yahoo.com
Website :	http://www.pramukhintl.com
Location :	Owned

DIRECTORS

(AS ON 30.09.2011)

Name :	Mr. Shambhulal Bikhalal Humbal
Designation :	Director
Address :	D-151, Ahirwas Saharagram, Bhimasar Chakasar, Anjar – 370240, Gujarat, India
Date of Birth/Age :	13.08.1978
Qualification :	HSC
Date of Appointment :	13.08.2009
DIN No.:	02717079
Name :	Mr. Pushpendra Sumanlal Thakker
Designation :	Director
Address :	‘Karmyog’, 105-106, Kesar Nagar II, Adipur Kutch – 370205, Gujarat, India
Date of Birth/Age :	12.10.1977
Qualification :	Diploma
Date of Appointment :	13.08.2009
DIN No.:	02717083
Name :	Mr. Bhikha Bijal Humkbal
Designation :	Director
Address :	D-535, Hethavadiya Faliyu, Sahara Gran, Bhimsar Ta Anjar – 370240, Gujarat, India
Date of Birth/Age :	06.10.1954
Date of Appointment :	15.10.2011
DIN No.:	05227979
Name :	Mrs. Naliniben Dhirajlal Thakker
Designation :	Director
Address :	Karmyog Plot No.105, Kesar Nagar 2, Adipur – 370205, Gujarat, India
Date of Birth/Age :	26.06.1950
Date of Appointment :	15.10.2011
DIN No.:	05227999

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Shambhulal Bikhalal Humbal	500
Pushpendra Sumanlal Thakker	500
Total	1000

(AS ON 01.03.2012)

Names of Allottee	No. of Shares Allotted
Shambhulal Bikhalal Humbal	3000
Pushpendra Sumanlal Thakker	3000
Bhikha Bijal Humkbal	1500
Naliniben Dhirajlal Thakker	1500
Total	9000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Exporter of Solt, Bentonite and Importer of Timber and West Paper.
Exports :
Products :	Solt and Bentonite
Countries :	· Gulf Countries · Africa · Nijeriya · Malaysia · Qatar · UAE · Far Eat · Kuwait
Imports :
Products :	Timber and Wert Paper
Countries :	· Belgium · Tanzania · USA · Europe
Terms :
Selling :	L/C and Credit (30 days), D.P.
Purchasing :	L/C and Credit (30 days)

GENERAL INFORMATION

Suppliers :

· Suyog Suppliers

· Om Traders

· Sparta Logistics, Belgium

Customers :

Wholesalers and Manufacturer

· Saudi Speciality Chemicals, Saudi Arabia

· IBN AL HAJ Chemicals

No. of Employees :

5 (Approximately)

Bankers :

· Syndicate Bank

1^st Floor, Plot No.240, Nahta Chamber, Gandhidham – 370201, Gujarat, India

· Cosmos Co-operative Bank Limited

· ICICI Bank Limited

· Kotak Mahindra Bank Limited

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Syndicate Bank O.D. A/c	1.986	0.000
Total	1.986	0.000
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Pramukh International	0.400	0.000
Shiv Salt Suppliers	2.281	0.000
Total	2.681	0.000

Banking Relations :	--
Auditors :
Name :	Nirup Pamal and Associates Chartered Accountant
Address :	Office No.210, 2^nd Floor, Sindhu-1, Building Ward – 12/B, Gandhidham – 370201, Gujarat, India
PAN No.:	AIMPP7262R
Email :	niruppomal@yahoo.com
Associates/Subsidiaries :	· Ahir Play Plywood Private Limited

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital : Rs.1.500 Millions

Issued, Subscribed & Paid-up Capital : Rs.1.500 Millions

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
4000	Equity Shares	Rs.100/- each	Rs.0.400 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4000	Equity Shares	Rs.100/- each	Rs.0.400 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.400	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		1.319	0.220
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1.719	0.320
LOAN FUNDS
1] Secured Loans		1.986	0.000
2] Unsecured Loans		2.681	0.000
TOTAL BORROWING		4.667	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		6.386	0.320
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.069	0.032
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.046	0.000
	Sundry Debtors	4.695	1.379
	Cash & Bank Balances	0.178	0.055
	Other Current Assets	0.373	0.072
	Loans & Advances	0.848	0.000
Total Current Assets		10.140	1.506
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	3.367	0.913
	Other Current Liabilities	0.223	0.216
	Provisions	0.243	0.103
Total Current Liabilities		3.833	1.232
Net Current Assets		6.307	0.274
MISCELLANEOUS EXPENSES		0.010	0.014
TOTAL		6.386	0.320

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Turnover	36.901	11.283
		Other Income	4.165	0.001
		TOTAL	41.066	11.282
Less	EXPENSES
		TOTAL	40.305	10.961
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.761	0.321
Less/ Add	DEPRECIATION/ AMORTISATION		0.019	0.003
	PROFIT BEFORE TAX		0.742	0.318
Less	TAX		0.230	0.098
	PROFIT AFTER TAX		0.512	0.220
	Earnings Per Share (Rs.)		185.09	--

Particulars	31.03.2012
Sales Turnover (Approximately)	50.000

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

The above information has been parted by Mr. Pushpendra

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	1.25	1.95
Net Profit Margin (PBT/Sales)	(%)	2.01	2.82
Return on Total Assets (PBT/Total Assets}	(%)	7.27	20.68
Return on Investment (ROI) (PBT/Networth)		0.43	0.99
Debt Equity Ratio (Total Liability/Networth)		4.94	3.85
Current Ratio (Current Asset/Current Liability)		2.65	1.22

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011	31.03.2010
	(Rs. In Millions)
Sundry Creditors	3.367	0.913
Total	3.367	0.913

PARTIAL DETAILS

Particulars	31.03.2011	31.03.2010
	(Rs. In Millions)
Aastha Slat Industries Private Limited	0.201	0.000
Ahir Plastics	0.159	0.000
Ashok Lakhwani	0.004	0.004
ABS Logistics	0.021	0.047
Gudwin Logistics	0.080	0.328
Lucky Sports and Stationery	0.002	0.000
Saurashtra Containers Private Limited	0.015	0.347
S K Express	0.008	0.005
Swastik Technology	0.008	0.002

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 three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	Yes
Major Suppliers	Yes
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
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

TRADE REFERENCE:

· Saudi Speciality Chemicals, Saudi Arabia

· IBN AL HAJ Chemicals

· Suyog Suppliers

· Om Traders

· Sparta Logistics, Belgium

FORM 8:

Corporate identity number of the company	U51102GJ2009PTC057783
Name of the company	PRAMUKH EXIM PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	108, Anam Commercial Complex, Plot No. 37, Sector 9, Gandhidham – 370201, Gujarat, India catirath@gmail.com
This form is for	Creation of charge
Type of charge	Book Debts
Particular of charge holder	Syndicate Bank 1st Floor, Plot No – 240, Nahta Chamber, Ghandhidham – 370201, Gujarat, India gj7009.ahmro@syndicatebank.co.in
Nature of description of the instrument creating or modifying the charge	Composite Hypothecation Agreement Charge and hypothecation of book debts agreement
Date of instrument Creating the charge	09/09/2010
Amount secured by the charge	Rs.2.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest 11.50 % Terms of Repayment Repayable on demand Margin As prescribed by bank Extent and Operation of the charge The charge shall operate as first and exclusive charge in favour of the bank to secure the due repayment of principal amount together with interest, additional interest and all other moneys payable by the company to the bank.
Short particulars of the property charged	Hypothecation of Book Debts.

FIXED ASSETS:

· Computer

· Laptop computer

· Mobile Handset

· Printer Machine

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.54.88
UK Pound	1	Rs.86.46
Euro	1	Rs.69.49

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	2
--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		42

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.