MIRA INFORM REPORT

Report Date :

20.11.2012

IDENTIFICATION DETAILS

Name :	BISHAN SAROOP RAM KISHAN AGRO PRIVATE LIMITED (TRS CO FROM U P)
Registered Office :	5584, Naya Bazar, New Delhi-110006
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	03.09.1969
Com. Reg. No.:	55-098273
Capital Investment / Paid-up Capital :	Rs.95.000 Millions
CIN No.: [Company Identification No.]	U28996DL1969PTC098273
TAN No.: [Tax Deduction & Collection Account No.]	DELB04237C
Legal Form :	Private Limited Liability Company
Line of Business :	Supplier of Rice, Wheat, Agro and Agro Based Products and Commodities.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 620000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears a dip in the turnover and the profitability of the company is it’s because of not getting good number of overseas contracts due to stiff competition. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some cautions.

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

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.

LOCATIONS

Registered Office :	5584, Naya Bazar, New Delhi-110006, India
Tel. No.:	91-11-23951011 / 32712400 / 32712500 / 24504921 / 23951011 / 55351631
Fax No.:	91-11-23927879
E-Mail :	vsrk_agro@yahoo.co.in joshi280@gmail.com

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Ram Kishan Dass

Designation :

Director

Address :

25/75, Shakti Nagar, Delhi – 110 007, India.

Date of Birth/Age :

26.07.1944

Qualification:

Under Graduate

Date of Appointment :

01.11.1997

Din No.:

00307306

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	U70200DL1995PTC070886	JADE ESTATES PRIVATE LIMITED	Director	10/08/1995	10/08/1995	15/07/2010	Active	NO
2	U29141DL1997PTC084509	R K METFAB ALLOYS PRIVATE LIMITED	Director	16/01/1997	16/01/1997	-	Active	NO
3	U28996DL1969PTC098273	BISHAN SAROOP RAM KISHAN AGRO PRIVATE LIMITED (TRS CO FROM U P)	Managing director	01/11/1997	01/11/1997	-	Active	NO
4	U72900DL1997PTC086515	TRENDZ INFORMATICS PRIVATE LIMITED	Director	01/03/2001	01/03/2001	07/05/2007	Active	NO
5	U74899DL1995PTC067168	AISHWARYA FINANCIAL SERVICES PRIVATE LIMITED	Director	25/07/2001	25/07/2001	14/05/2007	Active	NO
6	U18101DL1993PTC053166	TRENDZ OVERSEAS PRIVATE LIMITED	Director	25/07/2001	25/07/2001	07/05/2007	Active	NO
7	U74899DL1992PTC049717	AISHWARYA TRAVELS PRIVATE LIMITED	Director	25/07/2001	25/07/2001	07/05/2007	Active	NO
8	U27106GJ2003PTC042778	NILKANTH CONCAST PRIVATE LIMITED	Director	22/08/2003	22/08/2003	22/01/2008	Active	NO
9	U51311DL2002PTC118023	PRATHAM OVERSEAS PRIVATE LIMITED	Director	01/08/2004	01/08/2004	07/10/2007	Active	NO
10	U45201DL2005PTC133362	AASHANA ESTATE PRIVATE LIMITED	Director	24/02/2005	24/02/2005	31/08/2012	Active	NO
11	U72900DL2007PTC160332	VAIBHAV TECHNOSOFT PRIVATE LIMITED	Director	09/03/2007	09/03/2007	-	Active	NO
12	U51909DL2002PTC118202	A.G. AGRO PRIVATE LIMITED	Managing director	24/04/2007	24/04/2007	-	Active	NO
13	U51109DL2007PTC169440	GOLDEN INDIA EXPOTRADE PRIVATE LIMITED	Director	15/10/2007	15/10/2007	11/09/2010	Active	NO

Name :

Mr. Gian Chand Ram Kishan Dass

Designation :

Director

Address :

25/75, Shakti Nagar, Delhi – 110 007, India.

Date of Birth/Age :

20.01.1969

Qualification:

Under Graduate

Date of Appointment :

01.11.1997

Din No.:

00307370

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	U29141DL1997PTC084509	R K METFAB ALLOYS PRIVATE LIMITED	Director	16/01/1997	16/01/1997	-	Active	NO
2	U28996DL1969PTC098273	BISHAN SAROOP RAM KISHAN AGRO PRIVATE LIMITED (TRS CO FROM U P)	Director	01/11/1997	01/11/1997	-	Active	NO
3	U70200DL1995PTC070886	JADE ESTATES PRIVATE LIMITED	Director	14/02/2005	14/02/2005	-	Active	NO
4	U45201DL2005PTC133362	AASHANA ESTATE PRIVATE LIMITED	Director	24/02/2005	24/02/2005	31/08/2012	Active	NO
5	U51909DL2002PTC118202	A.G. AGRO PRIVATE LIMITED	Director	10/04/2007	10/04/2007	-	Active	NO
6	U40102DL2007PTC165290	R K LIVE-WELL ASSURANCE PRIVATE LIMITED	Director	27/06/2007	27/06/2007	10/03/2012	Active	NO
7	U51109DL2007PTC169440	GOLDEN INDIA EXPOTRADE PRIVATE LIMITED	Director	15/10/2007	15/10/2007	31/03/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Ram Kishan Dass	9491996
Gian Chand Ram Kishan Dass	8004
TOTAL	9500000

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Supplier of Rice, Wheat, Agro and Agro Based Products and Commodities.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of Mysore, 4101-4157, Naya Bazar, New Delhi-110006, India

· Syndicate Bank, IB Branch, F-40, Connaught Place, New Delhi-110001, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Working capital loans	431.264	579.796
Loans taken for vehicles	1.814	3.174
Other debts	0.000	0.033
TOTAL	433.078	583.003
Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Loans directors	84.790	85.090
Other debt	6.019	5.160
TOTAL	90.809	90.250

Banking Relations :	--
Auditors :
Name :	Anju Jindal and Company Chartered Accountants
Address :	G-43, Basement, Green Park Main, New Delhi-110016, India
PAN No:	AAGPJ0071J

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9500000	Equity Shares	Rs.10/- each	Rs.95.000 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		95.000	95.000	95.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		62.458	59.482	47.591
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		157.458	154.482	142.591
LOAN FUNDS
1] Secured Loans		433.078	583.003	618.069
2] Unsecured Loans		90.809	90.250	87.434
TOTAL BORROWING		523.887	673.253	705.503
DEFERRED TAX LIABILITIES		0.184	1.422	2.836
TOTAL		681.529	829.157	850.930
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		72.638	84.832	77.187
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.039	0.039	0.039
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	420.116	477.225	632.123
	Sundry Debtors	168.307	209.414	226.973
	Cash & Bank Balances	2.136	2.704	6.614
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	65.592	98.592	115.462
Total Current Assets		656.151	787.935	981.172
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.952	4.037
	Other Current Liabilities	39.347	39.612	207.468
	Provisions	0.000	0.000	0.000
Total Current Liabilities		47.299	43.649	207.468
Net Current Assets		608.852	744.286	773.704
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		681.529	829.157	850.930

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	687.200	2757.700	3202.907
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT / (LOSS) AFTER TAX		2.975	12.338	17.450
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	19.919	1952.550	NA
	Earnings / (Loss) Per Share (Rs.)		0.31	1.30	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.43	0.45	0.54
Debt Equity Ratio (Total Liability/Networth)		3.63	4.64	6.40
Current Ratio (Current Asset/Current Liability)		13.87	18.05	4.73

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

FINANCIAL RESULTS:

The working result shows a net profit after tax of Rs 2.975 Millions as against Rs12.338 Millions in the previous year.

WORKING:

Sales and other income made during the year is Rs 687.200 Millions as against Rs 2757.700 Millions. In the previous year. During the year the company could not get good number of overseas contracts due to stiff competition. The directors are also making efforts to increase the sales and are hopeful of even better results in the current year.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U28996DL1969PTC098273
Name of the company	BISHAN SAROOP RAM KISHAN AGRO PRIVATE LIMITED (TRS CO FROM U P)
Address of the registered office or of the principal place of business in India of the company	5584, Naya Bazar, New Delhi-110006, India
Type of charge	Immovable Property Movable Property [not being pledge] Others
Particular of charge holder	State Bank of Mysore, 4101-4157, Naya Bazar, New Delhi-110006, India Email: nayabazar@sbm.co.in
Nature of description of the instrument creating or modifying the charge	Letter of hypothecation, agreement of hypothecation of movable assets forming part of fixed block/assets and letters regarding equitable mortgage
Date of instrument Creating the charge	19.10.2012
Amount secured by the charge	Rs.350.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest @ 1.75% above SBM base i.e. effective rate at present being 12% p.a. Terms of Repayment On Demand Margin 25% Extent and Operation of the charge The charge operates as security as pari passu first charge with other lenders Others This is to secure export rupee packing credit/PCFC/EBR/FDBP/FUBD/OD limit of Rs.350.000 Millions. The fund and non fund based limit shall not exceed Rs. 460.000 Millions in aggregate.

FIXED ASSETS:

Ø Land

Ø Building

Ø Machinery

Ø Generator

Ø Car

Ø Photostat Machine

Ø Lab Equipment

Ø Weighing Bridge

Ø Fire Extinguisher

Ø Bag Sewing Machine

Ø Cycle

Ø Scooter

Ø Tractor

Ø Electrical Fitting

Ø Mobile Phone

Ø Fan

Ø Plant and Machinery - II

Ø Computer

Ø Building – II

Ø EPABX

Ø Furniture and Fixtures

Ø Packing Machine

Ø Water Purifier

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 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.54.96
UK Pound	1	Rs.87.50
Euro	1	Rs.70.15

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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.