MIRA INFORM REPORT

Report Date :

04.10.2012

IDENTIFICATION DETAILS

Name :	LANGLEIGH TEA AND ENTERPRISES PRIVATE LIMITED (w.e.f.11.04.2012)
Formerly Known As :	WOODBRIDGE TEA FACTORY AND TRADERS PRIVATE LIMITED
Registered Office :	Langleigh Mount Road Post Box No.41, Coonoor -643101
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	19.12.2008
Com. Reg. No.:	18-14946
Capital Investment/ Paid-up Capital:	Rs.0.100 Million
CIN No.: [Company Identification No.]	U01132TZ2008PTC014946
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Black Tea and Green Tea, Milk Food and Spices
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has recently commence with its business activity in the year 2011. Since its company first year of commencing business the company has incurred a loss. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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 – 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.

INFORMATION DENIED BY

Name :	Mr. Ashok Makhaaria
Designation :	In charge of Export
Contact No.:	91-423-2231095
Date :	02.10.2012

LOCATIONS

Registered Office :	Langleigh Mount Road Post Box No.41, Coonoor -643101, India
Tel. No.:	91-423-2231095
Fax No.:	91-423-2231075
E-Mail :	ramjee.ooty@gmail.com

DIRECTORS

As on 30.09.2011

Name :

Keethi Kishore

Designation :

Director

Address :

No.4 Sholam Apartments, 1 Josier Street, Nugambakkam, Chennia – 600034, Tamilnadu, India

Date of Birth/Age :

18.07.1987

Date of Appointment :

01.08.2012

Din No.:

02381888

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	U63040TN2007PLC062452	CelebrateIndia Tourism Limited	Director	21/02/2007	21/02/2007	-	Active	NO
2	U67120TN2007PTC062447	Acorn Commodity Exchanges and Holdings Private Limited	Director	21/02/2007	21/02/2007	17/10/2009	Active	NO
3	U72400TN2007PTC063635	ADMYRAL MUSICS INDIA PRIVATE LIMITED	Director	23/05/2007	23/05/2007	-	Strike off	NO
4	U70100TN2009PLC070827	Everonn Infrastructure Limited	Director	12/08/2009	12/08/2009	28/03/2012	Active	NO
5	U74140TN2007PLC065306	Everonn Educational Resources Solutions Limited	Director	12/08/2009	12/08/2009	28/03/2012	Active	NO
6	U00092BR1996PTC007456	TOPPERS TUTORIAL PRIVATE LIMITED	Director	12/08/2009	12/08/2009	08/05/2012	Active	NO
7	U72300TN2009PLC071228	Everonn Skill Development Limited	Director	12/08/2009	12/08/2009	-	Active	NO
8	U74200TN2008PTC069972	AEG SKILL UPDATE PRIVATE LIMITED	Director	12/08/2009	12/08/2009	-	Active	NO
9	U80211TN2010PLC075518	EVERONN SCHOOL LIMITED	Director	28/04/2010	28/04/2010	28/03/2012	Active	NO
10	U80301TN2010PLC075583	EVERONN MEDICAL EDUCATION LIMITED	Director	05/05/2010	05/05/2010	27/03/2012	Active	NO
11	U74999TN2010PTC075625	VERTIA TRADEMARKS ADVISORS PRIVATE LIMITED	Director	07/05/2010	07/05/2010	-	Active	NO
12	U80302TN2010PLC076512	EVERONN TECHNICAL EDUCATION INDIA LIMITED	Director	08/07/2010	08/07/2010	26/03/2012	Active	NO
13	U15132TN2010PTC078100	DASHA Foods Private Limited	Director	18/11/2010	18/11/2010	-	Active	NO
14	U67110TN2010PTC078571	SAMARA AGRO HOLDINGS PRIVATE LIMITED	Director	27/12/2010	27/12/2010	-	Active	NO
15	U80301TN2011PLC078700	EDIFICATIONS INDIA LIMITED	Director	05/01/2011	05/01/2011	26/03/2012	Active	NO
16	U92412TN2011PLC078710	EVERONN SPORT MANAGEMENT LIMITED	Director	06/01/2011	06/01/2011	28/03/2012	Active	NO
17	U80901TN2009PLC073317	EVERONN BUSINESS EDUCATION LIMITED	Additional director	13/01/2011	13/01/2011	26/03/2012	Active	NO
18	U80211TN2011PLC078820	Everonn Knowledge & Education Corridor Limited	Director	13/01/2011	13/01/2011	27/03/2012	Active	NO
19	U80221TN2011PLC081667	EVERONN SKILL PRODUCTS DEVELOPMENT LIMITED	Director	27/07/2011	27/07/2011	28/03/2012	Active	NO
20	U80902TN2011PLC081665	EVERONN SKILLING INDIA LIMITED	Director	27/07/2011	27/07/2011	28/03/2012	Active	NO
21	U65100TN2012PTC085180	SURABI HOLDINGS PRIVATE LIMITED	Director	28/03/2012	28/03/2012	-	Active	NO
22	U01400KL2012PTC031518	KINATHI AGRO GREEN GOLD PRIVATE LIMITED	Director	26/06/2012	26/06/2012	-	Active	NO
23	U01132TZ2008PTC014946	LANGLEIGH TEA AND ENTERPRISES PRIVATE LIMITED	Additional director	01/08/2012	01/08/2012	-	Active	NO
24	U15494TN2012PTC087280	Kshipra Tea Exports Private Limited	Director	17/08/2012	17/08/2012	-	Active	NO

Name :

Mr. Sarah Shirin Mathew

Designation :

Director

Address :

Langleigh, Club Road, Coonoor – 643101, Tamilnadu, India

Date of Birth/Age :

26.11.1956

Date of Appointment :

19.12.2008

Din No.:

02381889

KEY EXECUTIVES

Name :	Mr. Ashok Makhaaria
Designation :	In charge of Export

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Mr. Phillip Mathew	500
Mr. Mathew Sarah Shirin	500
Total	1000

As on 31.03.2012

Names of Allottees	No. of Shares
Phillip Mathew	53900
Sara Shren Mathew	18000
MIthun Mathew Phillip	6000
Mamta Mathew Phillip	6000
Anoop Mathew	100
Total	84000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Black Tea and Green Tea, Milk Food and Spices

ITC Code No.	Product Description
0902.30	Black Tea

As on 31.03.2011

Production 109135 Kgs

GENERAL INFORMATION

Bankers :

Kotak Mahindra Bank

Facilities :

Rs. In Millions

Secured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Cholamandalam Finance (Secured by Hypothecation of Vehicle	0.754	0.000
Kotak Mahindra Bank (Secured by Hypothecation of Vehicle )	0.316	0.000
Kotak Mahindra Bank (Secured by Hypothecation of Vehicle)	0.478	0.000
	1.548	0.000

Unsecured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Unsecured loan	18.887	0.000
Total	18.887	0.000

Banking Relations :	--
Auditors :
Name :	S Rama Subramaniam Chartered Accountant
Address :	29 Cranely Lodge, Hospital Road, Oothagamund – 643004, Tamilnadu, India
Pan No.:	ADBR5997D

CAPITAL STRUCTURE

After 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.100/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
85000	Equity Shares	Rs.100/- each	Rs.8.500 Million

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs.100/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs.100/- each	Rs.0.100 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		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.100	0.100
LOAN FUNDS
1] Secured Loans		1.548	0.000
2] Unsecured Loans		18.887	0.000
TOTAL BORROWING		20.435	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		20.535	0.100
APPLICATION OF FUNDS
		13.764	0.000
FIXED ASSETS [Net Block]		0.650	0.000
Capital work-in-progress
		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.078	0.000
	Sundry Debtors	0.988	0.00
	Cash & Bank Balances	0.205	0.155
	Other Current Assets	0.070	0.000
	Loans & Advances	1.133	4.206
Total Current Assets		4.474	4.361
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.586	4.648
	Other Current Liabilities	0.000	0.000
	Provisions	0.000	0.00
Total Current Liabilities		1.586	4.648
Net Current Assets		2.888	(0.287)
MISCELLANEOUS EXPENSES		3.233	0.387
TOTAL		20.535	0.100

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2011	31.03.2010
TURNOVER	4.955	NIL
EXPENSES	8.354	NIL
PROFIT BEFORE TAX	1.581	NIL
TAX	0.000	NIL
PROFIT AFTER TAX (G-H)	1.581	NIL
Earnings Per Share (Rs.)	0.000	NIL

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	31.90	-
Net Profit Margin (PBT/Sales)	(%)	NA	-
Return on Total Assets (PBT/Total Assets}	(%)	8.67	-
Return on Investment (ROI) (PBT/Networth)		15.81	-
Debt Equity Ratio (Total Liability/Networth)		220.21	46.48
Current Ratio (Current Asset/Current Liability)		2.82	0.94

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
Promoters background	Yes
No. of Employees	No
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last two years	Yes
Profitability for last two years	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes
Date of Birth of Proprietor/Partner/Director, if available	Yes
PAN of Proprietor/Partner/Director, if available	No
Voter ID No of Proprietor/Partner/Director, if available	No
External Agency Rating, if available	No

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.33
UK Pound	1	Rs.84.30
Euro	1	Rs.67.45

INFORMATION DETAILS

Information Gathered by :	SLP
Report Prepared by :	BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	-
--CREDIT LINES	1~10	-
--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		13

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.