MIRA INFORM REPORT

Report Date :

01.06.2013

IDENTIFICATION DETAILS

Name :	RAVI COMMODITIES PRIVATE LIMITED
Registered Office :	5 Clive Row, Room No. 72, 3rd Floor, Kolkata - 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	09.07.2004
Com. Reg. No.:	21-099072
Capital Investment / Paid-up Capital :	Rs. 9.955 Millions
CIN No.: [Company Identification No.]	U36999WB2004PTC099072
Legal Form :	Private Limited Liability Company
Line of Business :	Importer of Black Pepper.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 56000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The profitability of the company is low. The financial position is moderate. However, trade relations are fair. Business is active. Payment terms are slow. The company can be considered for business dealings 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

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 :	5 Clive Row, Room No. 72, 3rd Floor, Kolkata - 700001, West Bengal, India
Tel. No.:	91-33-22135494
Fax No.:	Not Available
E-Mail :	ravioverseas@hotmail.com srbarasia@gmail.com
Website :	http://www.eximgenius.com

DIRECTORS

As on: 30.09.2012

Name :

Mr. Mahesh Kumar Gupta

Designation :

Director

Address :

5 Clive Row, Room No. 72, 3rd Floor, Kolkata - 700001, West Bengal, India

Date of Birth/Age :

11.12.1962

Date of Appointment :

09.07.1994

DIN No.:

01808090

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	U36999WB2004PTC099072	Ravi Commodities Private Limited	Director	09/07/2004	09/07/2004	-	Active	NO
2	U60231WB2004PTC099207	Rashmi Logistics Private Limited	Director	21/12/2005	21/12/2005	06/08/2007	Active	NO
3	U51109WB2008PTC124815	PKT Pulses Trading Private Limited	Director	08/04/2008	08/04/2008	-	Active	NO
4	U60230WB2010PTC142657	Ravi Logistics Private Limited	Director	24/02/2010	24/02/2010	-	Active	NO
5	U70102WB2013PTC193945	Anchal Logistics Private Limited	Director	29/05/2013	29/05/2013	-	Active	NO

Name :

Ms. Kusum Gupta

Designation :

Director

Address :

5 Clive Row, Room No. 72, 3rd Floor, Kolkata - 700001, West Bengal, India

Date of Birth/Age :

21.09.1974

Date of Appointment :

25.04.2005

DIN No.:

02405713

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2012

Names of Shareholders	No. of Shares
Mahesh Kumar Gupta	7000
Kusum Gupta	3500
Mahesh Kumar Gupta (HUF)	985000
Total	995500

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Importer of Black Pepper.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	· Standard Chartered Bank, SME Banking, 19 N. S. Road, Kolkata - 700001, West Bengal, India · Centurion Bank of Punjab Limited, 88, Chowringhee Road, Kolkata – 700020, West Bengal, India · HDFC Bank Limited, 31, Chowrivghee Road, Kolkata – 700016, West Bengal , India

Banking Relations :	--
Auditors :
Name :	Shiv Ratan Barasia and Associate Chartered Accountants
Address :	27, Brabourne Road, Narayani Building, 6^th Floor, Room No. 601, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-40051047
Mobile No.:	91-9831071902
Fax No.:	91-33-22316933
E-Mail :	srbarasia@gmail.com
PAN No.:	AEFPB3906B

CAPITAL STRUCTURE

As on: 30.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
995500	Equity Shares	Rs.10/- each	Rs. 9.955 Millions

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		9.955	9.955	9.955
2] Share Application Money		0.165	0.165	0.000
3] Reserves & Surplus		3.964	3.000	2.252
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		14.084	13.120	12.207
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		12.950	30.564	19.150
TOTAL BORROWING		12.950	30.564	19.150
DEFERRED TAX LIABILITIES		0.015	0.011	0.000
TOTAL		27.049	43.695	31.357
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.987	1.137	0.051
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		13.136	8.580	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	16.572	33.615	9.863
	Trade receivable	30.807	9.524	9.041
	Cash & Bank Balances	24.559	0.000	25.330
	Other Current Assets	0.019	17.082	3.951
	Loans & Advances	1.729	24.851	0.006
Total Current Assets		73.686	85.072	48.191
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	58.950	46.638
	Other Current Liabilities	0.530	3.588
	Provisions	1.280	0.868
Total Current Liabilities		60.760	51.094	16.941
Net Current Assets		12.926	33.978	31.250
MISCELLANEOUS EXPENSES		0.000	0.000	0.056
TOTAL		27.049	43.695	31.357

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	668.571	477.439	397.860
		Other Income	2.326	0.677	0.592
		TOTAL (A)	670.897	478.116	398.452
Less	EXPENSES
		Purchase of stock-in-trade	613.901	464.247
		Changes in inventories of finished goods work-in-progress and stock-in-trade	17.042	(23.751)
		Employee benefit expenses	2.096	1.523
		Other expenses	31.560	29.141
		TOTAL (B)	664.599	471.160	397.498
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.298	6.956	Including finance expenses
Less	FINANCIAL EXPENSES (D)		4.689	5.771
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.609	1.185	0.954
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.202	0.099	0.017
	PROFIT BEFORE TAX (E-F) (G)		1.407	1.086	0.937
Less	TAX (H)		0.442	0.338	0.300
	PROFIT AFTER TAX (G-H) (I)		0.965	0.748	0.637
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		3.000	2.252	1.615
	BALANCE CARRIED TO THE B/S		3.965	3.000	2.252
	Earnings Per Share (Rs.)		0.97	0.75	0.64

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.14	0.16	0.16
Net Profit Margin (PBT/Sales)	(%)	0.21	0.22	0.23
Return on Total Assets (PBT/Total Assets}	(%)	1.88	1.26	1.94
Return on Investment (ROI) (PBT/Networth)		0.10	0.08	0.08
Debt Equity Ratio (Total Debt/Networth)		0.91	2.32	1.57
Current Ratio (Current Asset/Current Liability)		1.21	1.67	2.84

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	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

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
Others	12.950	30.564
Total	12.950	30.564

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U36999WB2004PTC099072
Name of the company	RAVI COMMODITIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	5 Clive Row, Room No. 72, 3rd Floor, Kolkata - 700001, West Bengal, India Email-id - srbarasia@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10170770
Type of charge	Book debts Movable property (not being pledge) Floating charge Others (Stock, P&M and Other Current and Fixed Assets)
Particular of charge holder	Standard Chartered Bank, SME Banking, 19 N. S. Road, Kolkata – 700001, West Bengal, India Email-id - sme.form8@sc.com
Nature of instrument creating charge	Hypothecation Agreement - Supplemental
Date of instrument Creating the charge	22.03.2012
Amount secured by the charge	Rs. 100.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest LIBOR plus 350 bps to be applied on Buyers Credit. The bank will charge interest and other charges as stipulated in the sanction terms, however the same is subject to change from time to time. Terms of Repayment Bankers acceptance valid for Maximum 120 days Buyers credit, Payment undertaking and LC up to 120 days Import LC Facility up to 120 days Maximum tenor for forex forward LER Facility - 120 days Margin The borrower shall maintain appropriate margin as stipulated in the sanction terms, however the same is subject to change from time to time. Extent and Operation of the charge The charged security be a continuing security and by way of first charge. The company hereby declare that all the charged assets now existing are absolute property of and at the sole disposal of the company and free from any prior charge or encumbrance and undertake that all the future property shall like wise be the unencumbered and absolute and disposal property of the company. Others The charged security shall be kept at the Co's risk and expenses in good condition and fully insured against loss or damage by fire, theft etc and also against other loss or damages may be required by the Bank. The charged goods and all sales realisation and insurance proceeds thereof and all the documents under this security shall be held as bank's exclusive property. Other terms are as per Sanction letter and Hypothecation Agreement etc.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Co. hereby hypothecates by way of 1st Charge : (i) 1. All the stock in trade such as food items such as pluses etc and other merchandise whatsoever being movable properties stored in borrowers place of business or anywhere else (ii) 2. All the book debts, out standings moneys receivable, claims and bill etc. and other Current Assets. 3. All the movable fixed assets. (iii) both present and future
Particulars of the present modification	By present modification the overall limit secured by charge has been enhanced from Rs. 80.000 millions to Rs.100.000 millions (Rupees Ten millions Only). The revised credit facilities are as follows:- Rs.100.000 millions fully interchangeable between Bankers Acceptance/ Co- Acceptance, Import Letter of Credit Sight/ Usance - Unsecured and Buyers Credit. - Forex forward LER Facility for Booking Forward Contract Other terms and conditions save as modified above remain unchanged.

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. 56.50
UK Pound	1	Rs. 86.01
Euro	1	Rs. 73.68

INFORMATION DETAILS

Report Prepared by :

DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	NO
--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		34

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.