MIRA INFORM REPORT

Report Date :

19.11.2012

IDENTIFICATION DETAILS

Name :	RAJ PETRO SPECIALITIES PRIVATE LIMITED (w.e.f. 14.05.2007)
Formerly Known As :	SURYODAY BLENDING PRIVATE LIMITED
Registered Office :	1^st Floor, 124, G D Ambekar Marg, Ambawadi, Cotton Green (West), Mumbai – 400033, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.05.1997
Com. Reg. No.:	11-107800
Capital Investment / Paid-up Capital :	Rs.183.876 millions
CIN No.: [Company Identification No.]	U23201MH1997PTC107800
TAN No.: [Tax Deduction & Collection Account No.]	MUMS29702B
PAN No.: [Permanent Account No.]	AACCS4923P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Petroleum Specialty Products
No. of Employees :	700 Approximately

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 7500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having good track record. The financial for the year 2011-2012 is missing from the government department. However, liquidity position of the company appears to be good. Financially seems strong. Trade relations are reported to be fair. Business is active. Payment are reported to be regular and as per commitment. The company can be considered for normal business dealing at usual trade terms and condition.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	A- (Term Loan)
Rating Explanation	To have adequate degree of safety regarding timely servicing of financial obligation it carry low credit risk
Date	January, 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Abhay Andhare
Designation :	Accounts Manager
Contact No.:	91-22-24721032
Date:	02.11.2012

LOCATIONS

Registered Office :	1^st Floor, 124, G D Ambekar Marg, Ambawadi, Cotton Green (West), Mumbai – 400 033, Maharashtra, India
Tel. No.:	91-22-24714961/ 62/64/ 24721000
Mobile No.:	91-9892895425 (Mr. Abhay Andhare)
Fax No.:	91-22-24710898
E-Mail :	pamumbai@rajgrp.com dilip@rajgrp.com exports@rajgrp.com abhay@rajgrp.com
Website :	http://www.rajgrp.com
Area :	4500 sq. ft.
Location :	Owned
Corporation Office :	2A-D, Doshi Tower, 156, Poonamallee High Road, Kilauk, Chennai – 600010, Tamilnadu, India
Tel No.:	91-44-42288900
Fax No.:	91-44-42288912
Email :	marketing_rl@rajgrp.com exports@rajgrp.com
Area :	4000 sq. ft
Location :	Rented
Branch :	Located at: · Bangalore · New Delhi · Hyderabad · Kolkata · Pune · Jamshedpur · Gurgaon · Aurangabad
Factory 1 :	Survey No. 146/2/3, Madhuban Dam Road, Village Karad, Silvassa – 396230, Dadra and Nagar Haveli, India
Tel. No.:	91-260-3091881
Fax No.:	91-260-2644396
Factory 2 :	Plot No. 1811, GIDC Industrial Area, Panoli – 394 115, Gujarat, India
Tel. No.:	91-2646-272287/ 153
Fax No.:	91-2646-272561
Factory 3 :	73/1B, Vaikkadu Manali, Chennai – 600103, Tamilnadu, India

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Vinit Surendra Asher

Designation :

Director

Address :

5, Amrut Dhara, Joshi Lane, Tilak Road, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India

Date of Birth/Age :

23.10.1975

Date of Appointment :

07.10.2002

DIN No.:

00209230

Name :

Mr. Jaysingh Vasanji Anjaria

Designation :

Director

Address :

401, Odyssey 1, Orchard Avenue, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

14.04.1933

Date of Appointment :

07.10.2002

DIN No.:

00211746

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Director	07/10/2002	07/10/2002	-	Active	NO
2	U51496TN2004PTC053597	ONEWORLD IMPEX PRIVATE LIMITED	Director	30/06/2004	30/06/2004	-	Active	NO

Name :

Mr. Ajay Jaysinh Anjaria

Designation :

Whole Time Director

Address :

401, Odyssey 1, Orchard Avenue, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

19.08.1965

Date of Appointment :

27.01.2003

DIN No.:

00208385

Name :

Mr. Atul Chandrakant Anjaria

Designation :

Whole Time Director

Address :

303, Odyssey 1, Orchard Avenue, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

28.08.1953

Date of Appointment :

01.09.2003

DIN No.:

00208237

Name :

Mr. Bipin Jaswantsinh Nanavati

Designation :

Managing Director

Address :

8, Letangs Road, Vepery, Chennai – 600 007, Tamilnadu, India

Date of Birth/Age :

03.11.1944

Date of Appointment :

01.12.2009

DIN No.:

00207759

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51496TN2004PTC053597	ONEWORLD IMPEX PRIVATE LIMITED	Director	30/06/2004	30/06/2004	-	Active	NO
2	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Managing director	01/12/2009	01/04/2006	-	Active	NO

Name :

Mr. Yogin Laxmidas Porecha

Designation :

Director

Address :

34, Laxmi Villa, Tagore Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India

Date of Birth/Age :

30.07.1955

Date of Appointment :

29.09.2007

Email :

yogin@rajgrp.com

DIN No.:

00208155

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U23200MH1996PLC098745	RAJ PETROLEUM PRODUCTS LIMITED	Director	01/07/2009	10/04/1996	-	Active	NO
2	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Director	29/09/2007	19/05/2007	-	Active	NO

Name :

Mr. Surendra Ajitsingh Asher

Designation :

Director

Address :

5, Amrut Dhara, Joshi Lane, Tilak Road, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India

Date of Birth/Age :

30.04.1943

Date of Appointment :

29.09.2007

Email :

surendra@rajgrp.com

DIN No.:

00208068

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U23200MH1996PLC098745	RAJ PETROLEUM PRODUCTS LIMITED	Director	01/07/2009	10/04/1996	-	Active	NO
2	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Director	29/09/2007	19/05/2007	-	Active	NO

Name :

Mr. Mehul Uday Nanavati

Designation :

Director

Address :

Prerna, 6 F, Ormes Road, 3^rd Cross Street, Kilpauk, Chennai – 600 010, Tamilnadu, India

Date of Birth/Age :

14.09.1974

Date of Appointment :

29.09.2007

DIN No.:

00209491

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U23200MH1996PLC098745	RAJ PETROLEUM PRODUCTS LIMITED	Whole-time director	01/12/1997	01/12/1997	01/07/2009	Active	NO
2	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Director	29/09/2007	19/05/2007	-	Active	NO

Name :

Mr. Viren Bipin Nanavati

Designation :

Director

Address :

8, Letanga Road, Vepery, Chennai – 600 007, Tamilnadu, India

Date of Birth/Age :

08.10.1971

Date of Appointment :

29.09.2007

DIN No.:

00209110

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U23200MH1996PLC098745	RAJ PETROLEUM PRODUCTS LIMITED	Director	01/12/1997	01/12/1997	-	Active	NO
2	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Director	29/09/2007	19/05/2007	-	Active	NO

Name :

Mr. Uday Jaswantsinh Nanavati

Designation :

Managing Director

Address :

Prerna, 6 F, Ormes Road, 3^rd Cross Street, Kilpauk, Chennai – 600 010, Tamilnadu, India

Date of Birth/Age :

14.12.1948

Date of Appointment :

01.07.2009

DIN No.:

00209391

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U23200MH1996PLC098745	RAJ PETROLEUM PRODUCTS LIMITED	Director	10/04/1996	10/04/1996	-	Active	NO
2	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Managing director	01/07/2009	19/05/2007	-	Active	NO

Name :

Mr. Nalin Jaswantsinh Nanavati

Designation :

Director

Address :

Old No. 11, Ormes Road, 3^rd Cross Street, Kilpauk, Chennai – 600 010, Tamilnadu, India

Date of Birth/Age :

02.09.1957

Date of Appointment :

29.09.2007

DIN No.:

00211279

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U23200MH1996PLC098745	RAJ PETROLEUM PRODUCTS LIMITED	Director	01/12/1997	01/12/1997	-	Active	NO
2	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Director	29/09/2007	19/05/2007	-	Active	NO

Name :

Mr. Rajesh Chandrakant Anjaria

Designation :

Director

Address :

B/2301, Eldoram 23^rd Floor, Hiranandani Gardens, A.S. Marg, Powai, Mumbai-400076, Maharashtra, India

Date of Birth/Age :

01.11.1956

Date of Appointment :

29.09.2007

DIN No.:

00208296

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U23200MH1996PLC098745	RAJ PETROLEUM PRODUCTS LIMITED	Director	01/07/2009	01/12/1997	-	Active	NO
2	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Director	29/09/2007	19/05/2007	-	Active	NO

Name :

Mr. Amit Bipin Nanavati

Designation :

Director

Address :

N. No.10, O No.13, Ormes Road, Kilpauk, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

16.08.1968

Date of Appointment :

30.09.2010

Email :

amit@oneworldimpex.com

DIN No.:

00208446

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U23200MH1996PLC098745	RAJ PETROLEUM PRODUCTS LIMITED	Director	01/12/1997	01/12/1997	01/07/2009	Active	NO
2	U51496TN2004PTC053597	ONEWORLD IMPEX PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
3	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Director	30/09/2010	01/04/2010	-	Active	NO

Name :

Mr. Samir Bharat Nanavati

Designation :

Director

Address :

332, Vaibhav Apartment, 62, E V K Sampath Road, Veprey, Chennai – 600007, Tamilnadu, India

Date of Birth/Age :

09.12.1975

Date of Appointment :

30.09.2011

DIN No.:

00209029

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U23201MH1997PTC107800	RAJ PETRO SPECIALITIES PRIVATE LIMITED	Director	30/09/2011	07/10/2002	-	Active	NO
2	U51496TN2004PTC053597	ONEWORLD IMPEX PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Dilip Vishnubhai Darji
Designation :	Company Secretary
Address :	G-401, Shiv Shakti Complex, S. V. Road, Dahisar (East), Mumbai – 400068, Maharashtra, India
Date of Birth/Age :	21.10.1982
Date of Appointment :	01.12.2008
PAN No.:	AJIPD4129Q
Name :	Mr. Abhay
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Chandrika Chandrakant Anjaria	101416
Chandrakant V Anjaria (HUF) Rep. By Karta Mr. Atul C Anjaria	25200
Atul C Anjaria	218700
Neela Atul Anjaria	185000
Atul C. Anjaria (HUF) Rep. By Karta Mr. Atul C Anjaria	40000
Chaitanya Atul Anjaria	45000
Rajesh Chandrakant Anjaria	218700
Rupal Rajesh Anjaria	185000
Rajesh C Anjaria (HUF) Rep. By Karta Mr. Rajesh C Anjaria	40000
Niket Rajesh Anjaria	45000
Jaysinh Vasanji Anjaria (Jointly With) Rajni Jaysinh Anjaria	122008
Rajni Jaysinh Anjaria	35200
Ajay Jaysinh Anjaria	275050
Shilpa Ajay Anjaria	99950
Jaysingh Vasanji Anjaria (HUF) Rep. By Karta Jaysinh Vasanji Anjaria	19800
Indra Laxmidas Porecha	67200
Yogin Laxmidas Porecha	247900
Kalpna Yogin Porecha (Jointly With) Kanhai Yogin Porecha	282720
Yogin Laxmidas Porecha – Rep as Trustee for yogin Family Trust	96800
Kanhai Yogin Porecha	23000
Surendra Ajitsinh Asher	114386
Jayshree Surendra Asher	53950
Arvin Ajitsinh Asher	33550
Vasanti Arvin Asher	45300
Vinit Surendra Asher (Jointly With) Neha Vinit Asher	33670
Jiten Arvind Asher	51750
Surendra A Asher (HUF) Rep. By Karta Surendra A Asher	53800
Bipin Jaswantsinh Nanavati	439800
Beena Bipin Nanavati	37700
Amit Bipin Nanavati	315200
Dipti Amit Nanavati (Jointly With) Amit Bipin Nanavati	14950
Viren Bipin Nanavati	305000
Shweta Viren Nanavati (Jointly With) Viren Bipin Nanavati	21510
Uday Jaswantsinh Nanavati	139450
Vidyuta Uday Nanavati	178010
Mehul Uday Nanavati	372500
Nalin Jaswantsinh Nanavati	205500
Sonal Nalin Nanavati	82058
Nalin Nanavati (HUF) Rep. By Karta Nalin Nanavati	292000
Bharti Bharat Nanavati	19700
Bharat J Nanavati (HUF) Rep. By Karta Sameer Bharat Nanavati	156000
Yash Amit Nanavati Jointly with Amit Bipin Nanavti	25000
Aksha Amit Nanavati Jointly with Dipti Amit Nanavati	50
Dhwani Sriram	50
Shradha Nalin Nanavati	50
Sameer Bharat Nanavati	155502
Total	5520080

(AS ON 30.09.2011)

Names of Non Cumulative Redeemable Preference Shareholders	No. of Shares
Chandrika Chandrakant Anjaria	101767
Chandreakant V, Anjaria (HUF) Rep. By Karta Mr. Atul C. Anjaria	19750
Atul Chandrakant Anjaria	89757
Neela Atul Anjaria	24720
Atul C Anjaria (HUF) Rep. By Karta Atul C Anjaria	10520
Chaitanya Atul Anjaria	45151
Rajesh Chandrakant Anjaria	65680
Rupal Rajesh Anjaria	26000
Rajesh C Anjaria (HUF) Rep. By Karta Mr. Rajesh C Anjaria	11500
Niket Rajesh Anjaria	56720
Jaysinh Vasanji Anjaria (Jointly With) Rajni Jaysinh Anjaria	29660
Rajni Jaysinh Anjaria	27000
Ajay Jaysinh Anjaria	49388
Shilpa Ajay Anjaria	8000
Jaysinh Vasanji Anjaria (HUF) Rep. By Karta Jaysinh Vasanji Anjaria	6000
Indra Laxmidas Porecha	4000
Yogin Laxmidas Porecha	51439
Kalpna Yogin Porecha (Jointly With) Kanhai Yogin Porecha	33323
Yogin Laxmidas Porecha – Rep as Trustee for yogin Family Trust	14400
Kanhai Yogin Porecha	9500
Surendra Ajitsinh Asher	9200
Jayshree Surendra Asher	4000
Arvind Ajitsinh Asher	6000
Vasanti Arvind Asher	5900
Vinit Surendra Asher (Jointly With) Neha Vinit Asher	4800
Jiten Arvind Asher	4200
Surendra A. Asher (HUF) Rep. by Karta Mr. Surendra A. Asher	5500
Bipin Jaswantsinh Nanavati	21080
Beena Bipin Nanavati	17000
Amit Bipin Nanavati	39200
Dipti Amit Nanavati (Jointly With) Amit Bipin Nanavati	12000
Viren Bipin Nanavati	55060
Shweta Viren Nanavati (Jointly With) Viren Bipin Nanavati	15010
Yash Amit Nanavati (Jointly With) Amit Bipin Nanavati	27000
Aksha Amit Nanavati (Jointly With) Dipti Amit Nanavati	9500
Viren B. Nanavati (HUF) Rep. by Karta Mr. Viren B. Nanavati	2000
Uday Jaswantsinh Nanavati	26097
Mehul Uday Nanavati	20612
Dhwani Sriram	26500
Pankaj D. Sampath - HUF	1
Anisha Mehul Nanavati	13000
Nalin Jaswantsinh Nanavati	56850
Sonal Nalin Nanavati	2525
Nalin J. Nanavati (HUF) Rep. by Karta Mr. Nalin J. Nanavati	31300
Shradha Nalin Nanavati	11000
Bharati Bharat Nanavati	135060
Sameer Bharat Nanavati	22580
Bharat J. Nanavati (HUF) Rep. by Karta Mr. Sameer B. Nanavati	19500
Total	1286750

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	97.31
Other top fifty (50) shareholders	2.69
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Petroleum Specialty Products
Exports :
Products :	Petroleum Speciality Products
Countries :	· South Africa · Asian Country · Europe · Middle East
Imports :
Products :	Raw Material
Countries :	· South Korea · Taiwan · China · UAE · US · Singapore
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
(as certified by the directors and which the auditor have relied)	KLS	NA	206000	82708
Specialty oil	MTS	NA	78200	NA
Includes Goods Reprocess	MTS	NA	NA	56715

GENERAL INFORMATION

Suppliers :

S. Oil Corporation, Korea

Customers :

End Users

· Vijay Electrical, Hyderabad

No. of Employees :

700 Approximately

Bankers :

· State bank of India

MID Corporate Group Industrial Finance Branch, Marble Arch, Race Course Circle, Vadodara - 390007, Gujarat, India

· Corporation Bank

Overseas Branch, Earnest House, 1^st Floor, Nariman Point, Mumbai – 400021, Maharashtra, India

· Standard Charter Bank

· Axis Bank

Facilities :

· Total Facility – Rs. 3700.000 Millions (From State bank of India)

· Total Facility – Rs. 1800.000 Millions (From Corporation Bank)

· Total Facility – Rs. 600.000 Millions (From Standard Charter Bank)

· Total Facility – Rs. 900.000 Millions (From Axis Bank)

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term Loans Banks secured	5.434	42.944
Working Capital Loans Banks secured	726.852	515.196
Loans taken for fixed assets secured	18.932	23.813
Total	751.218	581.953
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loans Directors Unsecured	44.928	38.528
Deposits related parties unsecured	29.941	25.045
Other debt unsecured	121.350	121.086
Total	196.219	184.659

Banking Relations :	--
Auditors :
Name :	N P Redij and Company Chartered Accountant
Address 1 :	Suite No. 1, Ground Floor, 190, Dr. Ambedkar Road, Dadar (East), Mumbai – 400014, Maharashtra, India
Tel. No.:	91-22-24184985/ 1206
Fax No.:	91-22-24173403
PAN No.:	AAAFN1783D
Associates Companies :	· Raj Petroleum Products Limited 1^st Floor, 124, G D Ambekar Marg, Ambawadi, Cotton Green (West), Mumbai – 400 033, Maharashtra, India Activity: Manufacturer of Oil and Grease Lubricants CIN No.: U23200MH1996PLC098745 · One World Impex Private Limited CIN No.: U51496TN2004PTC053597
Subsidiary :	· Raj Petro Specialities (Europe) B. V. Rotterdam, Netherlands

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
5600000	Equity Shares	Rs.10/- each	Rs.56.000 millions
225000	Class A Equity Shares	Rs.10/- each	Rs.2.250 Millions
910000	10% Non Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.91.000 millions
402500	8.50% Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.40.250 millions
	Total		Rs.189.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5520080	Equity Shares	Rs.10/- each	Rs.55.201 millions
910000	10% Non Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.91.000 millions
376750	8.50% Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.37.675 millions
	Total		Rs.183.876 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		183.876	176.326	176.326
2] Share Application Money		0.000	7.550	0.000
3] Reserves & Surplus		1692.147	1077.696	699.667
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1876.023	1261.572	875.993
LOAN FUNDS
1] Secured Loans		751.218	581.953	811.731
2] Unsecured Loans		196.219	184.659	116.030
TOTAL BORROWING		947.437	766.612	927.761
DEFERRED TAX LIABILITIES		39.709	37.423	35.508
TOTAL		2863.169	2065.607	1839.262
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		570.396	525.734	486.727
Capital work-in-progress		9.820	12.108	13.277
INVESTMENT		1.853	1.804	1.732
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2823.440	1040.752	497.640
	Sundry Debtors	591.876	2135.160	2181.528
	Cash & Bank Balances	1399.558	313.352	329.740
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1256.803	728.979	522.143
Total Current Assets		6071.677	4218.243	3531.051
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	2612.872	2127.049	1713.277
	Other Current Liabilities	441.312	143.474	85.855
	Provisions	741.046	429.860	396.518
Total Current Liabilities		3795.230	2700.383	2195.650
Net Current Assets		2276.447	1517.860	1335.401
MISCELLANEOUS EXPENSES		4.653	8.101	2.125
TOTAL		2863.169	2065.607	1839.262

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	9853.793	7568.864	7442.017
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		750.990	689.031	410.102
Less/ Add	DEPRECIATION/ AMORTISATION		65.581	73.113	69.741
	PROFIT BEFORE TAX		685.409	615.918	340.361
Less	TAX		263.084	191.915	112.296
	PROFIT AFTER TAX		422.325	424.003	228.065
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	2050.440	1832.601	1688.673
		Other Earnings	0.000	0.006	0.000
	TOTAL EARNINGS		2050.440	1832.607	1688.673
	IMPORTS
		Raw Materials	6639.504	5665.021	5654.245
		Capital Goods	23.054	13.490	5.921
	TOTAL IMPORTS		6662.558	5678.511	5660.166
	Earnings Per Share (Rs.)		62.04	73.32	38.69

Particulars	31.03.2012
Sales Turnover (Approximately)	12000.000

Expected Sales (2012-2013) : Rs. 15000.000 Millions

The above information has been parted by Mr. Abhay Andhar (Account Manager)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	6.96	8.14	4.57
Return on Total Assets (PBT/Total Assets}	(%)	10.32	12.98	8.47
Return on Investment (ROI) (PBT/Networth)		0.37	0.48	0.39
Debt Equity Ratio (Total Liability/Networth)		2.53	2.75	3.57
Current Ratio (Current Asset/Current Liability)		1.60	1.56	1.61

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
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	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

FINANCIAL RESULTS

The company has achieved a turnover of Rs.9853.793 Millions (Net off excise) and earned a net profit of Rs.685.409 Millions after providing provision for depreciation of Rs.65.581 Millions and provision for taxation (Including Deferred Tax) of Rs.263.084 Millions.

DEMERGER OF HOSPITALITY BUSINESS DIVISION OF ONE WORLD IMPEX PRIVATE LIMITED WITH THE COMPANY: AS ON 31.03.2010

During the financial year, The company has initiated process of entering into arrangement with oneworld Impex Private Limited pursuant to which, the Hospitality Business Division of Oneworld Impex Private Limited has been merged in the Company. The Scheme was sanctioned by the Honorable High courts of Mumbai on 24^th September, 2010 and Honorable High Courts of Chennai on 22^nd July, 2010. With the initialization of new business of “Hospitality Business” , the company has moved towards diversification of its resources, expecting good opportunities in the said field. The Directors of the company are optimistic for this project and foresee various benefits to the company in terms of economies of scale, synergies created on account of expertise of both the companies in their respective field, financial resources at their stake, customer base, etc.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U23201MH1997PTC107800
Name of the company	RAJ PETRO SPECIALITIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1^st Floor, 124, G D Ambekar Marg, Ambawadi, Cotton Green (West), Mumbai – 400033, Maharashtra, India Email: dilip@rajgrp.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10047963
Type of charge	Immovable property
Particular of charge holder	State bank of India MID Corporate Group Industrial Finance Branch, Marble Arch, Race Course Circle, Vadodara - 390007, Gujarat, India Email: vikash_kumar@sbi.co.in
Nature of instrument creating charge	Memorandum relating to Deposit of Title Deeds for creation of further charge for securing overall credit limit where the initial charge is created by way of Mortgage by Deposit of Title Deeds and / or creation of fresh charge by Deposit of Title Deeds for securing the overall credit limit.
Date of instrument Creating the charge	11.09.2012
Amount secured by the charge	Rs. 7080.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Extent and Operation of the charge (Though the total consortium facility of Rs.7080.000 Millions is secured by movable property (hypothecation agreement and working capital Consortium agreement) dated 05.07.2012 and immovable property (memorandum of entry) separate charge created for both i.e. Movable property and immovable property) Others SBI -CC -Rs.500.000 Millions + NFBWC L/C Rs.2500.000 Millions + NFBWC BG Rs.200.000 Millions + Credit exposure Rs.50.000 Millions. + TL - Rs.180.000 Millions (outside consortium) Total Rs.3430.000 Millions Corp Bank- CC Rs.340.000 Millions + Inland/Import L/C -Rs.1410.000 Millions + BG - Rs.200.000 Millions + FPC - Rs.50.000 Millions Total Rs.2000.000 Millions, Axis Bank - CC - Rs.5.000 Millions + LC Rs.995.000 Millions + LER - Rs.50.000 Millions Total Rs.1050.000 Millions and SCB L/C Rs.600.000 Millions aggregating to Rs.7080.000 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	(A) All those piece and parcel of Non-agricultural land for industrial purpose bearing survey no.146/2/3 situated at Village Karad of UT of Dadra and Nagar Haveli. (A) All those piece and parcel of Non-agricultural land for industrial purpose bearing survey no.146/2/3 situated at Village Karad of UT of Dadra and Nagar Haveli. (C) All those property situated at Gat No.531, located at Village Biranwadi (Previous Savlaj), Taluka Tasgaon, District Sangli, Maharashtra. (C) All those property situated at Gat No.531, located at Village Biranwadi (Previous Savlaj), Taluka Tasgaon, District Sangli, Maharashtra. (D-ii) All the piece or parcel of land known as plot no.627 in the Panoli Industrial Area / Estate consisting of R.S.No.464/p, adm.1944 sq. mtrs. Village. Umarwada,Taluka Ankleshwar, District Bharuch. E) Flat No. A-12 on Plot no.52 to 57, 60 to 66 consisting of RS No.189/1p, 189/3p,190/p,200p and 201/p situated in the village Bhadkodra, Taluka Ankleshwar, District Bharuch (Jaldarshan Co-operative Housing Society, Gujarat F) All that piece and parcel of land situated at Vaikkadu village, Tal. Saidapet, within the Registration District of Chengalput, State - Tamilnadu comprised in S. No. 73/1B, 178/4, 178/5 4TH SCH- A) Resi Flat adm. 2055 and 3645 Sq ft flat no. 101 on the 1st Floor in the building known as Madhuvan Bearing C.T.S No. 1123/1 to 10 situated at village Kandivali, Taluka Borivali, Maharashtra 6TH SCH- A) All that piece and parcel of NA land S No.187/4/2 adm. 0H. 13 Are S No.177/2 adm. 0 H. 04 Are, S No.187/1 adm. 0 H. 05 Are, S No.187/3 adm. 0 H. 05 Are, S. No.176/3 adm. 0H 46 Are, S. No.187/2 adm. 0 H. 08 Are totalling adm. about 0 H. 81 Are of village Surangi of UT of D and NH for ind. purpose along with factory building adm. 956.69 Sq. Mtrs constructed thereon with
Whether any of the property or interest therein under reference is not registered in the name of the company	Yes
If yes, in whose name it is registered	Property No. E as above registered in the name of Mr. Atul C Anjaria (For details refer to Sch I to VI of the Agmt. attached)
Date of instrument modifying the charge	08.07.2011
Particulars of the present modification	By this execution the Consortium charge extended to cover revised credit facilities from Rs.4786.000 Millions to Rs.7080.000 Millions (Credit Limits = SBI - Total Rs.3430.000 Millions, Corp Bank - Total Rs.2000.000 Millions, Axis Bank - Total-Rs.1050.000 Millions and SCB - Total Rs.600.000 Millions = aggregating to Rs.7080.000 Millions)

FIXED ASSETS:

· Air Conditioner

· Computers

· Electrical Installation and Fittings

· Motor Car

· Plant and Machinery

· Furniture and Fixtures

· Computer Software

WEBSITE DETAILS:

GROUP PROFILE

Established in 1942, the first entity of the group was a modest petroleum specialities trading outfit, with a strength of less than five. From this modest beginning six decades ago, the group has evolved into a multi-product and multi-facility conglomerate. Today it is a leading manufacturer and supplier of a diverse range of petroleum speciality products.

Raj Group today is an eminent Indian Business House having diversified interests ranging from process oils and lubricants to performance chemicals and international trading, as also hospitality and diagnostic services.

Over the past 60 years, the Raj Group has consistently made efforts to be World Class in every sphere of its business activity. Today, the Group has a dynamic global sourcing network, a comprehensive range of products, state-of-the-art ISO 9001:2000 manufacturing facilities, a dedicated research and development outfit to support its present and future innovative needs, and a proactive marketing team servicing a very large number of satisfied customers in India and all continents across the globe.

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] 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.54.99
UK Pound	1	Rs.87.21
Euro	1	Rs.70.22

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		51

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.