MIRA INFORM REPORT

Report Date :

11.01.2013

IDENTIFICATION DETAILS

Name :	VEETEE RICE LIMITED
Formerly Known As :	V T AGRO MILLS LIMITED
Registered Office :	Veetee House Neptune Close Medway City Estate ME2 4LT
Country :	United Kingdom
Financials (as on) :	31.12.2011
Date of Incorporation :	10.04.1986
Com. Reg. No.:	02009019
Legal Form :	Private limited with Share Capital
Line of Business :	Grain and Cereal Production
No. of Employees :	108

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Good
Payment Behaviour :	No Complaints
Litigation :	Clear

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^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
United Kingdom	A1	A1

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

UNITED KINGDOM - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aims to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU).

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Company Name	VEETEE RICE LIMITED	Company Number	02009019
Registered Address	VEETEE HOUSE	Trading Address	Veetee House Unit 21 Neptune Industrial Estate Neptune Close, Medway City Estate Rochester, Kent ME2 4LT
	NEPTUNE CLOSE
	MEDWAY CITY ESTATE
	ME2 4LT
Website Address	http://www.veetee.com
Telephone Number	01634290092	Fax Number
TPS	No	FPS	No
Incorporation Date	10/04/1986	Company Status	Active - Accounts Filed
Previous Name	V T AGRO MILLS LIMITED	Type	Private limited with Share Capital
Date of Change	04/09/1995	Filing Date of Accounts	25/09/2012
		Share Capital	£5,000,000
SIC03	1561	Currency	GBP
SIC03 Description	GRAIN AND CEREAL PRODUCTION
SIC07	10611
SIC07 Description	GRAIN MILLING
Principal Activity	Milling, packing and sale of rice to wholesalers, distributors and retailers.

DIRECTORS/MANAGEMENT

Current Directors

Name	Manmohan Chander Varma	Date of Birth	21/01/1949
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	23/08/1991
Address	Aston House 23 Russell Road, Northwood, Moor Park, Middlesex, HA6 2LP
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Essam Al Muhaidib	Date of Birth	09/04/1959
Officers Title	Mr	Nationality	Saudi Arabian
Present Appointments	1	Function	Director
Appointment Date	15/03/1996
Address	Po Box 30, Dammam, 31411

Current Company Secretary

Name	Shashi Prakash Surana	Date of Birth	29/12/1965
Officers Title	Ms	Nationality	British
Present Appointments	4	Function	Company Secretary
Appointment Date	01/06/2007
Address	8 Franklin Drive, Weavering, Maidstone, Kent, ME14 5SY

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Dharamvir Singh Mata	3	4
Talikulam Mahommad	0	1
Michael David Morgan	2	5
Dinesh Patel	0	10
Ashish Surve	0	5
Davinder Kumar Narang	9	5
Krishan Attawar	0	9

NEGATIVE INFORMATION

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Exact CCJ Details

There are no exact CCJ details

Possible CCJ Details

There are no possible CCJ details

Writ Details

There are no writ details

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Individual Share Value
VEETEE INVESTMENTS CORP.	4,999,999 ORDINARY GBP 1.00
M.C. VARMA	1 ORDINARY GBP 1.00

PAYMENT INFORMATION

Payment Information Summary

Days Beyond Terms

Trend Indicator

6	10
Company DBT	UK Average DBT

Steady

Improving Worsening

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	2
Total Value of Documented Trade Debtors / Bad Debt -	£4,361

GROUP STRUCTURE & AFFILIATED COMPANIES

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	VEETEE INVESTMENTS CORP

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
VEETEE INVESTMENTS CORP	N/A	-	-
VEETEE RICE LIMITED	02009019	31.12.2011	N	£71,392,702

FINANCIAL INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2011	£71,392,702	£1,485,593	£14,230,014	108
31/12/2010	£60,261,529	£4,261,688	£13,176,402	106
31/12/2009	£61,553,873	£3,462,896	£10,072,145	105

Profit & Loss

	Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£71,392,702	18.5%	£60,261,529	-2.1%	£61,553,873	33.9%	£45,962,559	62.5%	£28,278,823
	Export	£4,102,324	15%	£3,566,672	-20.5%	£4,488,171	4.5%	£4,294,179	122.3%	£1,932,032
	Cost of Sales	£61,609,464	27.8%	£48,213,305	-5.3%	£50,916,342	40.7%	£36,184,988	62.6%	£22,255,847
	Gross Profit	£9,783,238	-18.8%	£12,048,224	13.3%	£10,637,531	8.8%	£9,777,571	62.3%	£6,022,976
	Wages & Salaries	£4,126,787	11.6%	£3,696,332	2.5%	£3,606,871	16.3%	£3,102,605	5.4%	£2,944,185
	Directors Emoluments	£207,741	2%	£203,641	6.5%	£191,227	0%	£191,277	0.3%	£190,779
	Operating Profit	£2,154,179	-55.3%	£4,814,574	16.8%	£4,120,990	-7.3%	£4,445,287	301.1%	£1,108,230
	Depreciation	£725,516	0.9%	£719,188	-2%	£733,792	-0.8%	£739,835	1%	£732,192
	Audit Fees	£28,000	-6.7%	£30,000	7.1%	£28,000	3.7%	£27,000	-	£27,000
	Interest Payments	£673,707	21.8%	£553,204	-26%	£748,060	-51.3%	£1,536,349	55.3%	£989,420
	Pre Tax Profit	£1,485,593	-65.1%	£4,261,688	23.1%	£3,462,896	14.5%	£3,025,153	999.9%	£125,571
	Taxation	-£431,981	62.7%	-£1,157,431	-24.8%	-£927,642	-7.4%	-£864,077	-999.9%	-£66,889
	Profit After Tax	£1,053,612	-66.1%	£3,104,257	22.4%	£2,535,254	17.3%	£2,161,076	999.9%	£58,682
	Dividends Payable	-	-	-	-	-	-100%	£1,520,000	-	-
	Retained Profit	£1,053,612	-66.1%	£3,104,257	22.4%	£2,535,254	295.5%	£641,076	992.5%	£58,682

Balance Sheet

	Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
	Tangible Assets	£8,706,574	31.2%	£6,633,753	16.8%	£5,681,305	3.5%	£5,490,421	-9.2%	£6,049,997
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£8,706,574	31.2%	£6,633,753	16.8%	£5,681,305	3.5%	£5,490,421	-9.2%	£6,049,997
	Stock	£19,850,557	23.4%	£16,085,591	62.4%	£9,904,190	-10%	£11,002,645	102.2%	£5,441,430
	Trade Debtors	£12,645,218	19.6%	£10,570,323	18.7%	£8,902,436	11%	£8,020,644	-22.1%	£10,289,491
	Cash	£312,377	117.8%	£143,418	35.1%	£106,163	-94.6%	£1,959,942	999.9%	£107,735
	Other Debtors	£11,557,027	46.7%	£7,875,804	-31.6%	£11,511,049	28.6%	£8,952,775	173.9%	£3,269,146
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£44,365,179	27.9%	£34,675,136	14%	£30,423,838	1.6%	£29,936,006	56.7%	£19,107,802
	Trade Creditors	£1,674,251	-39.6%	£2,771,833	12%	£2,475,591	90.6%	£1,298,866	13.5%	£1,144,640
	Bank Loans & Overdrafts	£31,661,342	47.1%	£21,518,383	5.4%	£20,417,934	-10.5%	£22,808,238	52.4%	£14,964,555
	Other Short Term Finance	£1,512,872	490%	£256,423	85.5%	£138,199	-77.7%	£620,508	144.9%	£253,414
	Miscellaneous Current Liabilities	£1,726,688	-30%	£2,465,653	10.2%	£2,237,580	0.2%	£2,234,068	212.9%	£713,962
	Total Current Liabilities	£36,575,153	35.4%	£27,012,292	6.9%	£25,269,304	-6.3%	£26,961,680	57.9%	£17,076,571
	Bank Loans & Overdrafts and LTL	£33,927,928	49.9%	£22,638,578	6.9%	£21,181,628	-10.8%	£23,736,094	47%	£16,149,968
	Other Long Term Finance	£825,073	133.8%	£352,896	999.9%	£23,411	-80.7%	£121,308	-55.4%	£272,042
	Total Long Term Liabilities	£2,266,586	102.3%	£1,120,195	46.7%	£763,694	-17.7%	£927,856	-21.7%	£1,185,413

Capital & Reserves

	Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
	Called Up Share Capital	£5,000,000	-	£5,000,000	-	£5,000,000	-	£5,000,000	-	£5,000,000
	P & L Account Reserve	£9,230,014	12.9%	£8,176,402	61.2%	£5,072,145	99.9%	£2,536,891	33.8%	£1,895,815
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£14,230,014	8%	£13,176,402	30.8%	£10,072,145	33.6%	£7,536,891	9.3%	£6,895,815

Other Financial Items

	Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
	Net Worth	£14,230,014	8%	£13,176,402	30.8%	£10,072,145	33.6%	£7,536,891	9.3%	£6,895,815
	Working Capital	£7,790,026	1.7%	£7,662,844	48.7%	£5,154,534	73.3%	£2,974,326	46.4%	£2,031,231
	Total Assets	£53,071,753	28.5%	£41,308,889	14.4%	£36,105,143	1.9%	£35,426,427	40.8%	£25,157,799
	Total Liabilities	£38,841,739	38.1%	£28,132,487	8.1%	£26,032,998	-6.7%	£27,889,536	52.7%	£18,261,984
	Net Assets	£14,230,014	8%	£13,176,402	30.8%	£10,072,145	33.6%	£7,536,891	9.3%	£6,895,815

Cash Flow

	Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
	Net Cashflow from Operations	-£7,055,238	-467.6%	£1,919,383	-33%	£2,866,610	233.2%	-£2,152,477	-106.5%	-£1,042,539
	Net Cashflow before Financing	-£11,227,335	-694.6%	-£1,412,998	-308.2%	£678,696	111.8%	-£5,749,649	-165.2%	-£2,167,770
	Net Cashflow from Financing	-	-	-	100%	-£21,111,775	-	-	-	-
	Increase in Cash	-£11,227,335	-694.6%	-£1,412,998	93.1%	-£20,433,079	-255.4%	-£5,749,649	-165.2%	-£2,167,770

Miscellaneous

	Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£16,496,600	15.4%	£14,296,597	31.9%	£10,835,839	28%	£8,464,747	4.7%	£8,081,228
	Number of Employees	108	1.9%	106	1%	105	5%	100	-	100
	Auditors	ADRIAN C MANSBRIDGE & CO
	Auditor Comments	The audit report contains no adverse comments
	Bankers	HSBC BANK PLC
	Bank Branch Code	40-02-26

Ratios

	Date Of Accounts	31/12/11	31/12/10	31/12/09	31/12/08	31/12/07
	Pre-tax profit margin %	2.08	7.07	5.63	6.58	0.44
	Current ratio	1.21	1.28	1.20	1.11	1.12
	Sales/Net Working Capital	9.16	7.86	11.94	15.45	13.92
	Gearing %	238.40	171.80	210.30	314.90	234.20
	Equity in %	26.80	31.90	27.90	21.30	27.40
	Creditor Days	8.53	16.74	14.63	10.28	14.73
	Debtor Days	64.47	63.84	52.64	63.51	132.44
	Liquidity/Acid Test	0.67	0.68	0.81	0.70	0.80
	Return On Capital Employed %	9	29.80	31.95	35.73	1.55
	Return On Total Assets Employed %	2.79	10.31	9.59	8.53	0.49
	Current Debt Ratio	2.57	2.05	2.50	3.57	2.47
	Total Debt Ratio	2.72	2.13	2.58	3.70	2.64
	Stock Turnover Ratio %	27.80	26.69	16.09	23.93	19.24
	Return on Net Assets Employed %	10.43	32.34	34.38	40.13	1.82

Trade Debtors / Bad Debt Detail

Company Name	Amount	Statement Date
Pak Butchers (Perry Barr) Limited	£2,361	02/02/2012
Orient Food Supplies Ltd	£2,000	05/07/2012

Total Value

£4,361

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Status History

No Status History found.

Event History

Date	Description
04/10/2012	New Accounts Filed
04/10/2012	New Accounts Filed
01/09/2012	Annual Returns
01/10/2011	New Accounts Filed
01/10/2011	New Accounts Filed
29/08/2011	Annual Returns
31/08/2010	Annual Returns
15/06/2010	New Accounts Filed
15/06/2010	New Accounts Filed
28/08/2009	Annual Returns
09/04/2009	New Accounts Filed
07/11/2008	New Accounts Filed
03/09/2008	Annual Returns
13/11/2007	New Accounts Filed
08/06/2007	DAVINDER NARANG has resigned as company secretary

Previous Company Names

Date	Previous Name
04/09/1995	V T AGRO MILLS LIMITED

Mortgage Details

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	12/08/11
Date Charge Registered:	17/08/11
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ENTERPRISE HOUSE, ENTERPRISE CLOSE, ROCHESTER, T/NO: K583645 WITH THE BENEFIT OF ALL RIGHTS, LICENCES, GUARANTEES, RENTDEPOSITS, CONTRACTS, DEEDS UNDERTAKINGS& WARRANTIES RELATING TO THE PROPERTY. ANYSHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THE PROPERTY. ANY GOODWILL OF ANY BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY. ANY RENTAL & OTHER MONEY PAYABLE AND ANY LEASE LICENCE OR OTHER INTEREST CREATED IN RESPECT OF THE PROPERTY & ALL OTHER PAYMENTS WHATEVER IN RESPECT OFTHE PROPERTY

Mortgage Type:	FLOATING CHARGE (ALL ASSETS)
Date Charge Created:	07/05/10
Date Charge Registered:	11/05/10
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC INVOICE FINANCE (UK) LTD
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	BY WAY OF FLOATING CHARGE ALL THE UNDERTAKING OF THE COMPANY AND ALL ASSETS WHATSOEVER AND WHERESOEVER INCLUDING STOCK IN TRADE AND UNCALLED CAPITAL BUT EXCLUDING ANY DEBTS AND ASSOCIATED RIGHTS RELATING THERETO

Mortgage Type:	LEGAL ASSIGNMENT
Date Charge Created:	03/12/08
Date Charge Registered:	05/12/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ANY CREDIT BALANCE DUE TO THE COMPANY UNDER CONDITION 13 OF THE AGREEMENT FOR THE PURCHASE OF DEBTSSEE IMAGE FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	03/12/08
Date Charge Registered:	05/12/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	16/01/08
Date Charge Registered:	29/01/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	F/H 21 NEPTUNO PLACE MEDWAY CITY ESTATEROCHESTER KENT T/NOS K705388 K513756 K529899 05 WITH THE BENEFIT OF ALL RIGHTS LICENCES GUARANTEES RENT DEPOSITS CONTRACTS DEEDS UNDERTAKINGS AND WARRANTIES RELATINGTO THE PROPERTY ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THE PROPERTY ANY GOODWILL OF ANY BUSINESSFROM TIME TO TIME CARRIED ON AT THE PROPERTY ANY RENTAL AND OTHER MONEY PAYABLEUNDER ANY LEASE LICENCE OR OTHER INTEREST CREATED IN RESPECT OF THE PROPERTY AND ALL OTHER PAYMENTS WHATEVER IN RESPECTOF THE PROPERTY

Mortgage Type:	FIXED CHARGE ON PURCHASED DEBTS WHICH FAIL TO VEST
Date Charge Created:	21/05/04
Date Charge Registered:	22/05/04
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC INVOICE FINANCE (UK) LTD (THE SECURITY HOLDER)
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	BY WAY OF FIXED EQUITABLE CHARGE ALL DEBTS PURCHASED OR PURPORTED TO BE PURCHASED BY THE SECURITY HOLDER PURSUANT TO ANAGREEMENT FOR THE PURCHASE OF DEBTS BETWEEN THE SECURITY HOLDER AND THE COMPANY(INCLUDING ASSOCIATED RIGHTS RELATING THERETO) WHICH FAIL TO VEST EFFECTIVELY OR ABSOLUTELY IN THE SECURITY HOLDER FOR ANY REASON

Mortgage Type:	FIXED CHARGE
Date Charge Created:	15/09/03
Date Charge Registered:	16/09/03
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS UDT LIMITED
Amount Secured:	THE PRINCIPAL SUM OF £203,684.14 DUE ORTO BECOME DUE FROM THE COMPANY TO THE CHARGEE
Details:	A FIRST FIXED CHARGE OVER 1 X ROVEMA SBS 250/80 LH VERTICAL FORMFILL AND SEAL MACHINE WITH VOLUMETRIC CUP FEEDER VDX 5/311 STI SERIAL NUMBER 14547

Mortgage Type:	A FOURTH SUPPLEMENTAL DEED
Date Charge Created:	21/04/02
Date Charge Registered:	02/05/02
Date Charge Satisfied:	14/03/06
Status:	SATISFIED
Person(s) Entitled:	RIYAD BANK
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVERUNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:	THIRD SUPPLEMENTAL DEED TO A DEBENTURE DATED 15TH SEPTEMBER 1993 AS SUPPLEMENTED BY SUPPLEMENTAL DEEDS DATED 10TH NOVEMBER 1994 AND 17 JUNE 1999
Date Charge Created:	07/12/00
Date Charge Registered:	12/12/00
Date Charge Satisfied:	14/03/06
Status:	SATISFIED
Person(s) Entitled:	RIYAD BANK
Amount Secured:	ALL LIABILITIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER OR IN RESPECT OF THE AGREEMENT (AS DEFINED) THE DEBENTURE, THE VEETEE RICE INC. FACILITY LETTER GUARANTEE (AS DEFINED) OR ANYOTHER SECURITY DOCUMENTS TO WHICH IT IS A PARTY
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:	SECOND SUPPLEMENTAL DEED TO A DEBENTUREDATED 15TH SEPTEMBER 1993 AS SUPPLEMENTED BY A SUPPLEMENTAL DEED DATED 10TH NOVEMBER 1994
Date Charge Created:	17/06/99
Date Charge Registered:	19/06/99
Date Charge Satisfied:	14/03/06
Status:	SATISFIED
Person(s) Entitled:	RIYAD BANK
Amount Secured:	ALL LIABILITIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER OR IN RESPECT OF THE AGREEMENT (AS DEFINED) THE DEBENTURE, THE VEETEE RICE INC. FACILITY LETTER GUARANTEE (AS DEFINED) OR ANYOTHER SECURITY DOCUMENTS TO WHICH IT IS A PARTY
Details:	. FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	MORTGAGE
Date Charge Created:	04/03/98
Date Charge Registered:	09/03/98
Date Charge Satisfied:	14/03/06
Status:	SATISFIED
Person(s) Entitled:	RIYAD BANK
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	F/H LAND ON THE EAST SIDE OF NEPTUNE CLOSE MEDWAY ROCHESTER KENT T/N K705388 WITH ALL BUILDINGS FIXTURES FITTINGS FIXEDPLANT MACHINERY ASSIGNMENT THE BENEFIT OF ALL CONTRACTS AGREEMENTS RIGHTS FLOATING CHARGE ALL ITS UNDERTAKING AND PROPERTY ASSETS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	MORTGAGE
Date Charge Created:	02/03/98
Date Charge Registered:	09/03/98
Date Charge Satisfied:	14/03/06
Status:	SATISFIED
Person(s) Entitled:	RIYAD BANK
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	PROPERTY K/A 6 WINGROVE DRIVE STROOD ROCHESTER KENT T/NO K777930 TOGETHER WITH ALL BUILDINGS FIXTURES AND FITTINGS AND FIXED PLANT AND MACHINERY THEREON BY WAYOF ASSIGNMENT THE BENEFIT OF ALL CONTRACTS AGREEMENTS RIGHTS SECURITIES COVENANTS GUARANTEES BONDS AND INDEMNITIES OF ANY NATURE NOW OR AT ANY TIME INCLUDING BUT WITHOUT LIMITATION LICENCES PATENTS COPYRIGHTS AND TRADEMARKS ALL INSURANCE POLICIESN AND CONTRACTS OF INSURANCE AND ANY AGREEMENTS AND THE BENEFIT OF ALL RENTALS AND ANY OTHER DEBTS OR LIABILITIESWHATSOEVER BY WAY OF FLOATING CHARGE ALL ITS UNDERTAKING AND ALL ITS OTHER PROPERTY ASSETS AND RIGHTS WHATSOEVER SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	SUPPLEMENTAL DEED
Date Charge Created:	10/11/94
Date Charge Registered:	14/11/94
Date Charge Satisfied:	14/03/06
Status:	SATISFIED
Person(s) Entitled:	RIYAD BANK
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER OR IN RESPECT OF A FACILITY LETTER DATED 7TH SEPTEMBER 1993, A DEBENTURE DATED 15TH SEPTEMBER 1993, THE DEED OR ANY OTHER SECURITY DOCUMENTS
Details:	F/H-LAND K/A UNIT 1, SHERATON BUSINESS CENTRE, WANDSWORTH ROAD, PERIVALE T/N-NGL583438. F/H-LAND K/APLOT 7 MEDWAY MARITIME ESTATE FRINDSBURY ROCHESTER KENT T/N-K513756. L/H-LAND BEING LAND FORMING PART OF THE BED OF THE RIVER MEDWAY ADJOINING PLOT 7 MEDWAY MARITIME ESTATE CHATHAM REACH T/N-K560976.SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	LETTER OF HYPOTHECATION
Date Charge Created:	10/06/94
Date Charge Registered:	15/06/94
Date Charge Satisfied:	25/05/06
Status:	SATISFIED
Person(s) Entitled:	CANARA BANK
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE LETTER OF HYPOTHECATION
Details:	ALL BILLS OF EXCHANGE SHIPPING DOCUMENTS DOC/WARRANTS DELIVERY ORDERS WAREHOUSERECEIPTS POLICIES OFINSURANCE AND OTHER INLAND AND FOREIGN DOCUMENTS REPRESENTING OR RELATING TO GOODS IN ENGLAND OR ABROAD IN TRANSIT OR OTHERWISE SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	LETTER OF LEIN
Date Charge Created:	10/06/94
Date Charge Registered:	15/06/94
Date Charge Satisfied:	25/05/06
Status:	SATISFIED
Person(s) Entitled:	CANARA BANK
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE LETTER OF LEIN
Details:	ANY MONIES FROM TIME TO TIME STANDING TO THE CREDIT OF THE COMPANIES WITH CANARBANK OR ANY OF ITS AGENTS ON ANY ACCOUNT OR IN ANY MANNER WHATSOEVER

Mortgage Type:	DEBENTURE
Date Charge Created:	15/09/93
Date Charge Registered:	24/09/93
Date Charge Satisfied:	14/03/06
Status:	SATISFIED
Person(s) Entitled:	RIYAD BANK
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER OR IN RESPECT OF A FACILITY LETTER DATED 7 SEPTEMBER 1993 THE DEBENTURE OR ANY OTHER SECURITY DOCUMENTS
Details:	F/H-UNIT 1 SHERATON BUSINESS CENTRE WADWORTH ROAD PERIVALE T/N-NGL583438 (FOR FULL DETAILS SEE FORM395) FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTUREINCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY

Mortgage Type:	DEBENTURE
Date Charge Created:	17/02/89
Date Charge Registered:	06/03/89
Date Charge Satisfied:	05/10/93
Status:	SATISFIED
Person(s) Entitled:	CANARA BANK.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	17/02/89
Date Charge Registered:	06/03/89
Date Charge Satisfied:	05/10/93
Status:	SATISFIED
Person(s) Entitled:	CANARE BANK
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	F/H - UNIT 1, SHERATON BUSINESS CENTRE,WADSWORTH ROAD, PERIVALE, L/BOROUGH OF EALING TITLE NO NGL 583438 FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

Mortgage Type:	REGISTERED PURSUANT TO AN ORDER OF COURT DATED 2/3/87 SINGLE DEBENTURE
Date Charge Created:	10/12/86
Date Charge Registered:	04/03/87
Date Charge Satisfied:	04/03/87
Status:	SATISFIED
Person(s) Entitled:	LLOYDS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:	DEED OF FIXED CHARGE
Date Charge Created:	10/12/86
Date Charge Registered:	13/12/86
Date Charge Satisfied:	14/03/90
Status:	SATISFIED
Person(s) Entitled:	BUGHLER MIGO (ENGLAND) LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF AN AGREEMENT DATED 25.6.86
Details:	BY WAY OF FIRST FIXED CHARGE THE MACHINERY AND EQUIPMENT FOR BASMATE CARGO RICEMILL WHICH MACHINERYAND EQUIPMENT IS INSTALLED ON THE PREMISES KNOWN AS UNIT 1SHEMATON BUSINESS CENTRE WANDSWORTH ROAD,PERWALE MIDDLESEX

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.
Sales in the latest trading period increased 18.5% on the previous trading period.
Net Worth increased by 8% during the latest trading period.
A 28.5% growth in Total Assets occurred during the latest trading period.
Pre-tax profits decreased by 65.1% compared to the previous trading period.
The company saw an increase in their Cash Balance of 117.8% during the latest trading period.
The audit report contains no adverse comments.
No recent changes in directorship are recorded.
The company is part of a group.
The company was established over 26 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.63
UK Pound	1	Rs.87.50
Euro	1	Rs.71.32

INFORMATION DETAILS

Report Prepared by :

PRL

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	--

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%)

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.