MIRA INFORM REPORT

Report Date :

25.09.2012

IDENTIFICATION DETAILS

Name :	HITECH AGPRO PRIVATE LIMITED
Registered Office :	G 36, lawrence Road, Delhi – 110034
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.11.2005
Com. Reg. No.:	55-142731
Capital Investment / Paid-up Capital :	Rs.2.300 Millions
CIN No.: [Company Identification No.]	U15138DL2005PTC142731
TAN No.: [Tax Deduction & Collection Account No.]	DELH07400B
PAN No.: [Permanent Account No.]	AABCH6393P
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of Commodities
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (36)

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

Maximum Credit Limit :	USD 48000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a established company having moderate track record. Profitability of the company appears to be low. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some caution.

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 PARTED BY

Name :	Mr. Vipul (Husband of Director)
Contact No.:	91-11-27104759
Date :	22.09.2012

LOCATIONS

Registered Office :	G 36, lawrence Road, Delhi – 110034, India
Tel. No.:	91-11-27104755 / 65161800
Fax No.:	91-11-47057500
E-Mail :	vm@hitechpulses.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Kapil Mittal

Designation :

Director

Address :

97, Chanderlok, Pitampura, Delhi – 110034, India

Date of Birth/Age :

11.02.1981

Date of Appointment :

21.11.2005

DIN No.:

00185281

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	U15138DL2005PTC142731	HITECH AGPRO PRIVATE LIMITED	Director	21/11/2005	21/11/2005	-	Active	NO
2	U15311DL2004PTC128271	ANKUR ROLLER FLOUR MILLS PRIVATE LIMITED	Director	28/11/2007	28/11/2007	-	Active	NO

Name :

Mr. Rekha Mittal

Designation :

Director

Address :

97, Chanderlok, Shakurpur, Delhi – 110034, India

Date of Birth/Age :

22.05.1978

Date of Appointment :

21.11.2005

DIN No.:

00185385

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Kapil Mittal	55000
Rekha Mittal	5000
Vipul Mittal (H.U.F.)	80000
Kapil Mittal (H.U.F.)	90000
Total	230000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading of Commodities

Products :

Description of product or services	ITC number of product
Agro Commodities	1518

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of Hyderabad Core-6, Scope Complex, Lodhi Road, New Delhi - 110003, India

Facilities :

(Rs. In Millions)

Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans others unsecured	0.093	0.234
Total	0.093	0.234

Banking Relations :	--
Auditors :
Name :	Anil Sunil and Associates Chartered Accountants
Address :	A-1/37-F, Mayur Vihar-III, New Delhi-110096, India
Tel. No.:	91-11-64658667
Mobile No.:	91-9811289644
PAN.:	AAGPG6199N

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
230000	Equity Shares	Rs.10/- each	2.300 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
230000	Equity Shares	Rs.10/- each	Rs.2.300 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
230000	Equity Shares	Rs.10/- each	2.300 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		2.300	2.300	1.400
2] Share Application Money		0.000	0.000	0.000
3] Share Premium		0.000	0.000	5.200
4] Reserves & Surplus		9.830	9.173	0.000
5] (Accumulated Losses)		0.000	0.000	(0.230)
NETWORTH		12.130	11.473	6.370
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.093	0.234	0.355
TOTAL BORROWING		0.093	0.234	0.355
DEFERRED TAX LIABILITIES		0.001	0.001	0.001
TOTAL		12.224	11.708	6.726
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.005
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		10.765	8.521	6.521
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.278	0.481	0.000
	Sundry Debtors	0.000	0.000	0.195
	Cash & Bank Balances	0.276	0.323	0.023
	Other Current Assets	0.005	0.005	0.000
	Loans & Advances	0.010	2.797	0.027
Total Current Assets		1.569	3.606	0.245
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.250	0.030
	Other Current Liabilities	0.110	0.171	0.025
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.110	0.421	0.055
Net Current Assets		1.459	3.185	0.190
MISCELLANEOUS EXPENSES		0.000	0.002	0.010
TOTAL		12.224	11.708	6.726

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income	121.415	2.722
		Other Income
		TOTAL	121.415	2.722
Less	EXPENSES
		Office Expenses
		Administrative Expenses	NA	NA
		Advertising Expenses
		TOTAL	NA	NA
	PROFIT BEFORE TAX		NA	NA
Less	TAX		NA	NA
	PROFIT AFTER TAX		0.072	0.028
	Earnings Per Share (Rs.)		0.31	0.13

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	2390.000	1290.000
	Due to more order

Expected Sales (2012-13) : Rs.2500.000 Millions

The above information has been parted by Mr. Vipul

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	0.06	1.03
Debt Equity Ratio (Total Liability/Networth)		0.02	0.06	0.06
Current Ratio (Current Asset/Current Liability)		14.26	8.57	4.45

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	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%	Yes
14]	Estimation for coming financial year	Yes
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	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	No

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U15138DL2005PTC142731
Name of the company	HITECH AGPRO PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	G 36, lawrence Road, Delhi – 110034, India vm@hitechpulses.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10197895
Type of charge	Movable property (not being pledge) Floating charge Others (Corporate Guarantee)
Particular of charge holder	State Bank of Hyderabad Core-6, Scope Complex, Lodhi Road, New Delhi - 110003, India scopecomplex@sbhyd.co.in
Nature of instrument creating charge	Supplemental deed of guarantee for increase in overall limit
Date of instrument Creating the charge	05.08.2010
Amount secured by the charge	Rs.250.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanction letter Terms of Repayment As per sanction letter Margin Corporate Guarantee Extent and Operation of the charge Corporate guarantee of the company for enhanced Cash credit limit of Rs.165.000 Millions and letter of credit ( Inland/Foreign) limit of Rs.85.000 Millions sanctioned to M/s Hitech Grain Processing Private Limited Others Corporate Guarantee of the companies, tangible net worth of Rs. 6.359 Millions as on 31st March 2009 as per audited Balance sheet and personal guarantee of all the directors Mr. Naresh Kumar Mittal and Mrs. Asha Mittal
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Corporate guarantee of the company on its tangible assets
Date of instrument modifying the charge	04.01.2010
Particulars of the present modification	Corporate guarantee of the company for enhancement in Cash credit limit from Rs.135.000 Millions to Rs.165.000 Millions and letter of credit ( Inland/Foreign) limit from Rs.45.000 Millions to Rs.85.000 Millions sanctioned to M/s Hitech Grain Processing Private Limited

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.53.29
UK Pound	1	Rs.86.44
Euro	1	Rs.68.95

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		36

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.