MIRA INFORM REPORT

Report Date :

08.04.2013

IDENTIFICATION DETAILS

Name :	ARAMBANS EXPORTERS PRIVATE LIMITED
Registered Office :	Building No. 791, Ward 4, Ollur Panchayath, Trichur – 577573, Kerala
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	01.03.1995
Com. Reg. No.:	09-008709
Capital Investment / Paid-up Capital :	Rs.0.900 Million
CIN No.: [Company Identification No.]	U74999KL1995PTC008709
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Surgical Disposables such as Adult / Baby Diapers, Wound Dressings, Colostomy Products etc.
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 4000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The company recorded modest scale of operation and profitability appears to be low. The external borrowing seems to be huge. However, the company has wipeout its accumulated loss during the year 2011-2012. Trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with great 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.

INFORMATION PARTED BY

Name :	Mr. Polson
Designation :	Accounts Staff
Contact No.:	91-487-2252688
Date :	08.03.2013

LOCATIONS

Registered Office :	Building No. 791, Ward 4, Ollur Panchayath, Trichur – 577573, Kerala, India
Tel. No.:	91-487-2252638/ 2252620
Mobile No.:	91-9846032599 (Mr. Stefhy John)
Fax No.:	91-487-2252650
E-Mail :	arambanspltd@sify.com arambanspltd@hotmail.com
Website :	www.arambans.com
Location :	Owned
Corporate Office :	Attokaran, Thiruthur Temple Road, P.O., Thrissur – 680006, Kerala, India
Location :	Owned

DIRECTORS

(AS ON 29.09.2012)

Name :	Mrs. Bindhu Stephy
Designation :	Managing Director
Address :	Attokaran House, Thiruthur Temple Road, Anchery, Thrissur-680006, Kerala, India
Date of Birth/Age :	10.05.1972
Date of Appointment :	21.05.2008
DIN No.:	01950915
Name :	Mr. Stefhy John
Designation :	Director
Address :	Attokaran House, Thiruthur Temple Road, Anchery, Thrissur-680006, Kerala, India
Date of Birth/Age :	31.07.1969
Date of Appointment :	21.05.2008
DIN No.:	02287195
Name :	Mrs. Maggie John
Designation :	Director
Address :	Attokaran House, Thiruthur Temple Road, Anchery, Thrissur-680006, Kerala, India
Date of Birth/Age :	30.10.1938
Date of Appointment :	21.05.2008
DIN No.:	02287168
Name :	Mr. George Lazar
Designation :	Director
Address :	Attokaran House, Thiruthur Temple Road, Anchery, Thrissur-680006, Kerala, India
Date of Birth/Age :	16.09.1939
Date of Appointment :	20.09.2004
DIN No.:	01808850

KEY EXECUTIVES

Name :	Mr. Polson
Designation :	Accounts Staff

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2012)

Names of Shareholders	No. of Shares
George Lazar	550
Bindhu Stephy	3100
Maggie John	2000
Stephy John	3350
Total	9000

(AS ON 30.09.2012)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Surgical Disposables such as Adult / Baby Diapers, Wound Dressings, Colostomy Products etc.
Imports :
Products :	Surgical Disposables
Countries :	· Turkey · USA · UK · China · Hongkong · Malaysia
Terms :
Selling :	Credit (30 days)
Purchasing :	Advance

GENERAL INFORMATION

Customers :	Wholesalers, Dealers and Hospitals · Amruta Enterprises, Kochin
No. of Employees :	10 (Approximately)
Bankers :	· State Bank of India Kuriachira Thrissure, India Contact No.: 91-487-2251634 · The South Indian Bank Limited Anchery Nehrunagar Branch, St. Antony's Towers, Kuriachira, Thrissur - 680006, Kerala, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Ignatious Varghese and Company Chartered Accountant
Address :	C J Towers, Ikkanda Warrier Road, Thrissur – 680001, Kerala, India
PAN No.:	AACPI5483R

CAPITAL STRUCTURE

(AS ON 29.09.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9000	Equity Shares	Rs.100/- each	Rs. 0.900 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.900	0.900	0.900
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.087	0.000	0.000
4] (Accumulated Losses)		0.000	(0.135)	(0.351)
NETWORTH		0.987	0.765	0.549
LOAN FUNDS
1] Secured Loans				2.672
2] Unsecured Loans				1.478
TOTAL BORROWING		8.189	4.982	4.150
DEFERRED TAX LIABILITIES		0.013	0.009	0.007
TOTAL		9.189	5.756	4.706
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.643	0.143	0.074
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.100	0.302	0.010
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	3.797
	Sundry Debtors	0.000	0.000	1.912
	Cash & Bank Balances	0.022	0.046	0.042
	Other Current Assets	0.042	0.010	0.000
	Loans & Advances	10.873	7.252	0.130
Total Current Assets		10.937	7.308	5.881
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.357	0.000	0.137
	Other Current Liabilities	1.912	1.980	1.017
	Provisions	0.222	0.017	0.112
Total Current Liabilities		2.491	1.997	1.266
Net Current Assets		8.446	5.311	4.615
MISCELLANEOUS EXPENSES		0.000	0.000	0.007
TOTAL		9.189	5.756	4.706

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	28.967	19.623	11.656
		Other Income	0.131	0.026	NA
		TOTAL	29.098	19.649	NA
Less	EXPENSES
		TOTAL	NA	18.831	NA
	PROFIT BEFORE TAX		NA	0.325	0.294
Less	TAX		NA	0.109	0.057
	PROFIT AFTER TAX		0.221	0.216	0.237
	IMPORTS VALUE		NA	5.952	5.146
	Earnings Per Share (Rs.)		24.56	24.08	26.39

Expected Sales (2012-13): Rs.50.000 Millions

The above information has been parted by Mr. Polson.

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.76	1.10	NA
Net Profit Margin (PBT/Sales)	(%)	NA	1.66	2.52
Return on Total Assets (PBT/Total Assets}	(%)	NA	4.36	4.94
Return on Investment (ROI) (PBT/Networth)		NA	3.93	4.94
Debt Equity Ratio (Total Debt/Networth)		8.30	6.51	7.56
Current Ratio (Current Asset/Current Liability)		4.39	3.67	4.65

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	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	No
17]	Major suppliers	No
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	No
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

WORKING RESULTS

During the year the company's working has resulted in a profit of Rs.0.221 Million after providing for all the usual and necessary expenses such has depreciation , bonus and provision for gratuity and income tax. After deducting the loss of Rs.0.135 Million and transfer of Rs.0.085 Million to General reserve , balance of Rs.0.002 Million is carried forward to next year . The Board of Directors expect to make substantial profits in coming years.

TRADE REFERENCE:

· Amruta Enterprises, Kochin

FORM 8

Corporate identity number of the company	U74999KL1995PTC008709
Name of the company	ARAMBANS EXPORTERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Building No. 791, Ward 4, Ollur Panchayath, Trichur, Kerala, India arambanspltd@sify.com
This form is for	Modification of charge
Charge identification number of the charge to be modified	10122901
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	The South Indian Bank Limited Anchery Nehrunagar Branch, St. Antony's Towers, Kuriachira, Thrissur - 680006, Kerala, India br0184@sib.in
Nature of instrument creating charge	Agreement of Hypothecation Supplemental Deed of Hypothecation
Date of instrument Creating the charge	31.05.2012
Amount secured by the charge	Rs.7.500 Millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of interest 14.5% Terms of repayment Renewable Margin 25% For Stock 40% For Book Debts Extent and operation of the charge The Charge Extends to and Operate As Security For The Entire Limit of Rs.7.500 Millions
Short particulars of the property charged (Including location of the property)	All of the Stock and Book Debts, Both Present and Future.
Particulars of the present modification	By this modification the CCOL limit is enhanced from Rs.4.500 Millions to Rs.7.500 Millions

FIXED ASSETS

· Furniture

· Machinery

· Computer

· Water Tank

· Vehicle Bolero

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.54.88
UK Pound	1	Rs.83.54
Euro	1	Rs.70.90

INFORMATION DETAILS

Information Gathered by :	NYN
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
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	3
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.