MIRA INFORM REPORT

Report Date :

28.05.2012

IDENTIFICATION DETAILS

Name :	FOOD AND BIOTECH ENGINEERS (INDIA) PRIVATE LIMITED
Registered Office :	Plot No.41, Flat No.C-2, Second Floor, Tajpur Road, Molarband Extension, Near Cosmos School, (Badarpur), New Delhi – 110044
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	15.09.1999
Com. Reg. No.:	55-101572
Capital Investment / Paid-up Capital :	Rs. 7.643 Millions
CIN No.: [Company Identification No.]	U74210DL1999PTC101572
IEC No.:	0500062161
TAN No.: [Tax Deduction & Collection Account No.]	RTKF00269D
PAN No.: [Permanent Account No.]	AAACF4996P
Legal Form :	Private Limited Liability Company
Line of Business :	Designers, Exporter, Consultants and Manufacturer of Dairy Processing Equipments
No. of Employees :	460 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 96000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments re 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.

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 DECLINED

Management Non Co-operative

Contact No.:91-1275-262157

LOCATIONS

Registered Office :	Plot No.41, Flat No.C-2, Second Floor, Tajpur Road, Molarband Extension, Near Cosmos School, (Badarpur), New Delhi – 110044, India
Tel No.:	Not Available
Mobile No.:	91-9312069977 [Mr. Shailendra Mohan Mishra]
Fax No.:	Not Available
E-Mail :	info@foodbiotech.co.in cs.faridabad@gmail.com foodbiotech@gmail.com
Website :	www.dairyfoodtech.com www.foodbiotech.com
Factory 1 :	Chaprola Road, Village Prithla, Tehsil Palwal, Faridabad- 121 003, Haryana, India
Tel. No.:	91-1275-262157/ 262158 91-129-2510924/ 2510643/ 2510988/ 2256080
Fax No.:	91-1275-262259 91-129-2510645/ 2510924
E-Mail :	foodeng@vsnl.net info@foodbiotech.co.in
Area :	7000 Sq. yard
Location :	Owned
Factory 2:	Plot No.6, Khasra No.14, IDC, Gurukul, Sarai Khawja (IDC), P.O. Amar Nagar, Faridabad-121003, Haryana, India

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Rabindra Prasad Singh

Designation :

Director

Address :

H.No.282, Sector-37, Faridabad, Haryana, India

Date of Birth/Age :

15.11.1959

Date of Appointment :

15.09.1999

DIN :

00417026

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74210DL1999PTC101572	FOOD AND BIOTECH ENGINEERS (INDIA) PRIVATE LIMITED	Director	15/09/1999	15/09/1999	Active	NO
2	L15419PB1976PLC003669	NARAYAN AGRO FOODS LIMITED	Director	31/12/2005	31/12/2005	Active	NO
3	U52202BR2009PTC014743	AASMA FOODS AND BEVERAGES PRIVATE LIMITED	Director	10/6/2011	10/6/2011	Active	NO

Name :

Mr. Munender Kumar Singh

Designation :

Director

Address :

H.No.282, Sector-37, Faridabad, Haryana, India

Date of Birth/Age :

01.07.1973

Date of Appointment :

15.09.1999

DIN :

00417008

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74210DL1999PTC101572	FOOD AND BIOTECH ENGINEERS (INDIA) PRIVATE LIMITED.	Director	15/09/1999	15/09/1999	Active	NO
2	U52202BR2009PTC014743	AASMA FOODS AND BEVERAGES PRIVATE LIMITED	Director	10/6/2011	10/6/2011	Active	NO

Name :

Mr. Anil Kumar Sinha

Designation :

Director

Address :

H.No.282, Sector-37, Faridabad, Haryana, India

Date of Birth/Age :

02.01.1969

Date of Appointment :

15.09.1999

DIN :

00416955

Name :

Mr. Shailendra Mohan Mishra

Designation :

Director

Address :

B-53, Ashoka Enclave, Part II, Sector – 37, Faridabad, Haryana, India

Date of Birth/Age :

16.06.1972

Date of Appointment :

01.07.2005

DIN :

00416888

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
R.P. Singh	30,010
Muninder Kumar Singh	26,430
Anil Kumar Singh	23,855
B.P. Singh	104,900
Alka Singh	24,600
S.P. Singh	56,400
D.P. Singh	18,000
Muniender Kumar	22,500
Krishna Murari	15,550
D. K. Dhawan	22,500
Kuldeep Singh	15,000
Gurmeet Kaur	20,000
Ram Kishan	12,000
Renu Pajan	14,000
Renuka Prasad	20,500
D.K. Jain	10,000
Muneshwari Devi	15,000
Vikas Aggarwal	100,000
Deepika Aggarwal	120,000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	48.00
Other top fifty shareholder (Other than listed above)	52.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Designers, Exporter, Consultants and Manufacturer of Dairy Processing Equipments
Products :	· Dairy Product · Food and Fruit Products · Naturoceuticals and Health Care Product · Biotechnical Plant · Design and Fabrication of Equipments such as Milk Storage Tanks, Road Milk Tanks, Power Grinder, Turbo Blender and More.

GENERAL INFORMATION

Customers :

· Kaira district Cooperative Milk Producers Union Limited (AMUL), Anand

· RCDF, Jaipur and Alwar

· Delhi Milk Scheme, Delhi

· Bihar State Co-Operative Milk Producers Federation Limited, Patna

· Desratna Dr. Rajndra Prasad Dugdh Utpadak Sahkari Sangh Limited, Barauni

· District Milk Producer’s Cooperative union Limited, Gumla

· Sirsa District Milk Producers Union Limited, Sirsa

· Mehsana District Co-Operative Milk Producers Union Limited, Gujarat

· Sri Ganga Nagar Zila Dugdh Utpadak Sahkari Sangh Limited, Hanumangarh

· Mandiya District Co-Operative Milk Union Limited, Karnataka

· Dharwad Milk Union, Dharwad

· Dairy Development Corporation, Nepal

· Glaxo Smith Kline

· Cadbury India Limited

· Heinz India Private Limited

· Mother Dairy Foods Processing Limited

· GEA process Engineering (India) Limited

· Hindustan lever Limited

· Hutson Agro Product Limited

· Himalaya Drug Company

· Vedram and Sons Private Limited

· Hindustan Kwality Walls Foods Private Limited

· Modern Dairy Limited

· Dynamix Dairies Limited

· Kwality Milk Foods Limited

· Tasty Dairy Specialties Limited

· Industrial progressive Limited

No. of Employees :

460 [Approximately]

Bankers :

· Union Bank of India

4/ 14-A, Asaf Ali Road Branch, New Delhi – 110 001, Delhi, India

· Punjab National Bank

· The Bank of Rajasthan Limited

· Axis Bank Limited

· HDFC Bank Limited

· Standard Chartered Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Term Loan Union Bank of India	1.125	1.986
Working capital Union Bank of India CC A/c140052	34.037	54.661
Total	35.162	56.647
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From banks – Standard Chartered Bank	0.915	1.953
From Others	12.460	7.546
Total	13.375	9.499

Banking Relations :	--
Auditors :
Name :	H. S. Baweja and Company Chartered Accountant
Address :	K. C. Compound, Opposite Sophia Market, Court Road, Saharanpur – 247554, Uttar Pradesh, India
Tel No.:	91-132-2728851
Mobile No.:	91-9897448851
PAN No.:	AZSPM5582A
Email :	hsbaweja@yahoo.co.in
Associates/Subsidiaries :	· Food Engineering and Associates Address: Plot No.6, Gurukul Industrial Area, Post Office Amarnagar, Saraikhwaha Line of Business: Manufacturers and Exporter of Dairy Machines Equipments and Food Processing Machines.

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
768390	Equity Shares	Rs.10/- each	Rs.7.684 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		7.684	7.643	7.398
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		16.362	12.744	9.402
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		24.046	20.387	16.800
LOAN FUNDS
1] Secured Loans		35.162	56.647	50.366
2] Unsecured Loans		13.375	9.499	10.583
TOTAL BORROWING		48.537	66.146	60.949
DEFERRED TAX LIABILITIES		0.732	0.764	0.698
Deferred Creditors		67.153	18.654	2.130
TOTAL		140.468	105.951	80.577
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		44.353	45.157	36.687
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	229.824	189.562	141.770
	Sundry Debtors	150.360	141.857	106.116
	Cash & Bank Balances	1.139	6.024	5.261
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	39.537	17.458	18.983
Total Current Assets		420.860	354.901	272.130
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	206.274	245.012	175.963
	Other Current Liabilities	116.942	47.623	51.720
	Provisions	1.529	1.472	0.557
Total Current Liabilities		324.745	294.107	228.240
Net Current Assets		96.115	60.794	43.890
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		140.468	105.951	80.577

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	392.436	379.633	191.944
		Other Income	0.572	0.975	0.377
		TOTAL (A)	393.008	380.608	192.321
Less	EXPENSES
		Cost of Gods Sold	301.540	301.795	138.779
		Manufacturing Expenses	46.270	40.863	26.305
		Administrative and other Expenses	27.977	21.239	14.022
		TOTAL (B)	375.787	363.897	179.106
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		17.221	16.711	13.215
Less	FINANCIAL EXPENSES (D)		7.494	7.011	7.377
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		9.727	9.700	5.838
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.981	4.749	4.691
	PROFIT BEFORE TAX (E-F) (G)		4.746	4.951	1.147
Less	TAX (H)		1.497	1.609	0.543
	PROFIT AFTER TAX (G-H) (I)		3.249	3.342	0.604
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		12.744	9.402	8.798
	BALANCE CARRIED TO THE B/S		15.993	12.744	9.402
	Earnings Per Share (Rs.)			4.37	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.83	0.88	0.31
Net Profit Margin (PBT/Sales)	(%)	1.21	1.30	0.60
Return on Total Assets (PBT/Total Assets}	(%)	1.02	1.24	0.37
Return on Investment (ROI) (PBT/Networth)		0.20	0.24	0.07
Debt Equity Ratio (Total Liability/Networth)		15.52	17.67	17.21
Current Ratio (Current Asset/Current Liability)		1.30	1.21	1.19

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	No
Designation of Contact person	No
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	Yes
Payments Terms	No
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

NOTE:

The Registered office address of the company has been shifted from, F-51, Vishwakarma Colony, Lal kuan, M. B. Road, New Delhi-110044, India to the present address.

Bankers Charges Report as per Registry

Corporate identity number of the company	U74210DL1999PTC101572
Name of the company	FOOD AND BIOTECH ENGINEERS (INDIA)PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	F-51, Vishwakarma Colony, Lal Kuan, M.B. Road, New Delhi – 110044, Delhi, India
This form is for	Modification of Charge
Charge identification (ID) number of the charge to be modified	80015538
Type of charge	Book Debts Movable Property
Particular of charge holder	Union Bank of India, 4/ 14-A, Asaf Ali Road Branch, New Delhi – 110 001, Delhi, India
Nature of instrument creating charge	Composite Hypothecation Deed
Date of instrument Creating the charge	18.03.2011
Amount secured by the charge	Rs.53.656 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest – CC-@ Base Rate plus 5.50%=15.00% p.a. at present with monthly rests. Term Loan-@14.25% p.a. with monthly rests. LG/One time Foreign Guarantee - As per usual bank charges Terms of Repayment – (i) Working Capital - Repayable on demand (ii) Term Loan-As per existing repayment schedule Margin – 25% on Cash Credit 50% on Term Loan 25% on LG 110% on One Time Foreign Guarantee Extent and Operation of the charge - The Company's assets as mentioned hereunder are hypothecated to secure following credit facilities agg.to Rs.53.656 millions granted by the Bank to the Borrower:- 1.CC (Hypo) Rs.40.000 million 2.TL(O/S) Rs. 1.375 million 3.Letter of Guarantee Rs.10.000 million 4.One time foreign guarantee of USD 48900 equivalent to Rs. 2.281 million TOTAL Rs.53.656 million
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of all tangible movable machineries, plant, machinery fixtures, Fittings, furniture, computer & other accessories situated at the Borrower's godown / factory at Vill. Prithla, Palwal, Faridabad. Hypothecation of all the Borrower's stocks of raw materials, work in process, finisihed goods and semi finished goods, packing material,cosumables,stores and spares etc. Hypothecation of all the Borrower's present and future book debts, outstandings, monies receivables, claims, bills contracts, engagements etc. First charge on entire fixed assets of the Borrower.
Date of instrument modifying the charge	27.08.2009
Particulars of the present modification	The various credit facilities granted by the Bank has now been enhanced from Rs.53.136 million to Rs.53.656 million. Therefore, total amount of charge secured against hypothecation of entire fixed assets, stocks, book debts, plant and machinery etc. has now been enhanced from Rs.53.136 million to Rs.53.656 million

FIXED ASSETS:

· Air Conditioner

· Building

· Electrical Fitting

· Furniture and Fixtures

· Lab Equipment

· Land

· Office Equipment

· Fire Safety Equipment

· Plant and Machinery

· Tools and Equipment

· Vehicles

· Crane

· Submersible Pump

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.55.73
UK Pound	1	Rs.87.26
Euro	1	Rs.69.89

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	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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.