MIRA INFORM REPORT

Report Date :

20.06.2013

IDENTIFICATION DETAILS

Name :	VARUN BEVERAGES LIMITED
Registered Office :	F-2/7, Okhla Industrial Area, Phase I, New Delhi – 110 020
Country :	India
Financials (as on) :	31.12.2011
Date of Incorporation :	16.06.1995
Com. Reg. No.:	55-069839
Capital Investment / Paid-up Capital :	Rs.80.000 millions
CIN No.: [Company Identification No.]	U74899DL1995PLC069839
TAN No.: [Tax Deduction & Collection Account No.]	DELV04789B
PAN No.: [Permanent Account No.]	AAACV2678L
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in manufacturing of Soft Drinks and also offers bottling services to PepsiCo.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (35)

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

Maximum Credit Limit :	USD 4410000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject belongs to the Varun Beverages Group. It is a well established company having a moderate track record. There appears drastic dip in the profitability of the company during December 2011. The external borrowing of the company is huge. However, the subject company has good growth potential on account of the following reasons: · Leadership position in PepsiCo Holdings India Private Limited’s franchisee bottling operations. · Increasing geographical diversity in domestic and international markets. (Sri Lanka, Morocco, Nepal) · Backward integration of its operations. · Economies of scale. Trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with slight 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating: A
Rating Explanation	Adequate degree of safety and low credit risk.
Date	May 28, 2013

Rating Agency Name	CRISIL
Rating	Short Term Rating: A1
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	May 28, 2013

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 DECLINED BY

Name :	Mr. Kamlesh Jain
Designation :	Chief Financial Officer
Contact No.:	91-124-4643100/ 200/ 300/ 400/ 500
Date :	19.06.2013

LOCATIONS

Registered Office :	F-2/7, Okhla Industrial Area, Phase I, New Delhi – 110 020, India
Tel. No.:	91-11-41706720
Fax No.:	91-11-41706722
E-Mail :	soniya.khandelwal@rjcorp.in gautamseth@rkjgroup.com gautam.seth@rjcorp.in praveen.tandon@rjcorp.in
Website :	http://www.rkgroup.com
Location :	Owned by Group (Industrial area)
Head Office :	Plot No.31, Institutional Area, Sector 44, Gurgaon - 122 002, Haryana, India
Tel. No.:	91-124-4643100/ 200/ 300/ 400/ 500
Corporate Office :	F-34, Sector – VI, Noida – 201 301, Uttar Pradesh, India
Tel. No.:	91-120-2422413/ 2422414/ 2530976/ 2531004/ 2550337
Fax No.:	91-120-2422870/ 2422745/ 2550338
Area :	15000 sq. ft.
Location :	Owned by Group (Industrial area, Large size)
Plants :	Village Tajpur, Tehsil Nuh, District Mewat, Haryana, India Balmukundapura, Ajmer Road, Tehsil Sanganer, Jaipur, Rajasthan, India Village, Dautana, 107 K.M. Stone, Delhi – Agra High Way, Near Kosi Kalan Mills, District Mathura, Uttar Pradesh, India Plot No. S.P. 646-653, Matsya Industrial Area, RIICO, Alwar, Rajasthan Plot No.159, RIICO Industrial Area, Phase – II, Boranada, Jodhpur – 342 801, Rajasthan, India
Overseas Office :	Located at: · Sri Lanka · Nepal · Mozambique · Zambia · Morocco

DIRECTORS

As on 11.06.2012

Name :

Mr. Raj Pal Gandhi

Designation :

Whole Time Director

Address :

P-2/50, DLF Phase II, Gurgaon – 122 002, Haryana, India

Date of Birth/Age :

07.06.1957

Qualification :

FCA

Date of Appointment :

21.10.2004

DIN No.:

00003649

PAN No.:

AALPG8397D

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	U74899DL1991PLC046405	PARKVIEW CITY LIMITED	Director	10/08/1998	10/08/1998	-	Active	NO
2	U74899DL1999PLC101230	PARKVIEW INFRASTRUCTURES LIMITED	Director	19/08/1999	19/08/1999	06/06/2008	Active	NO
3	U80301DL2003PTC118290	MODERN MONTESSORI INTERNATIONAL (INDIA) PRIVATE LIMITED	Director	13/01/2003	13/01/2003	-	Active	NO
4	U74899DL1989PTC037343	PARKVIEW APARTMENTS PRIVATE LIMITED	Director	09/04/2004	09/04/2004	06/06/2008	Active	NO
5	U74899DL1995PLC069839	VARUN BEVERAGES LIMITED	Whole-time director	21/10/2004	21/10/2004	-	Active	NO
6	U74899DL1978PTC009190	DEVYANI ENTERPRISES PRIVATE LIMITED	Director	10/11/2004	10/11/2004	20/11/2009	Active	NO
7	U55101DL2004PTC130720	TANGERINE HOTELS PRIVATE LIMITED	Director	03/05/2005	03/05/2005	-	Amalgamated	NO
8	U15532DL2005PTC136903	SEEBHAL DISTILLERY PRIVATE LIMITED	Director	30/09/2006	31/05/2005	15/05/2013	Active	NO
9	U45201DL2005PTC138289	VARUN RESIDENTIAL PROJECTS PRIVATE LIMITED	Director	05/07/2005	05/07/2005	01/05/2009	Active	NO
10	U55101DL2002PTC118179	CITRUS HOTELS PRIVATE LIMITED	Director	17/08/2005	17/08/2005	20/02/2008	Active	NO
11	U45201DL2005PTC138954	PARKVIEW INFRACON PRIVATE LIMITED	Director	11/01/2006	11/01/2006	05/06/2007	Active	NO
12	U45201DL2005PTC138953	JAIPURIA TOWERS PRIVATE LIMITED	Director	11/01/2006	11/01/2006	-	Amalgamated	NO
13	U70101DL2006PTC146701	JAIPURIA INFRACON PRIVATE LIMITED	Director	22/02/2006	22/02/2006	-	Amalgamated	NO
14	U70101DL2006PTC146724	JAIPURIA INFRATECH PRIVATE LIMITED	Director	23/02/2006	23/02/2006	-	Amalgamated	NO
15	U51909DL2006PTC146757	ABINBEV INDIA PRIVATE LIMITED	Director	24/02/2006	24/02/2006	-	Active	NO
16	U30005DL2006PTC147252	ANGELICA TECHNOLOGIES PRIVATE LIMITED	Director	08/03/2006	08/03/2006	01/05/2009	Active	NO
17	U70200DL2006PTC149218	PINNACLE INFRACON PRIVATE LIMITED	Director	26/05/2006	26/05/2006	-	Active	NO
18	U70109DL2006PTC149325	PINNACLE CONSTRUCTIONS PRIVATE LIMITED	Director	30/05/2006	30/05/2006	01/05/2009	Active	NO
19	U70109DL2006PTC149698	CAPITAL DEVELOPMENTS PRIVATE LIMITED	Director	13/06/2006	13/06/2006	01/05/2009	Active	NO
20	U70109DL2006PTC149697	CAPITAL INFRACON PRIVATE LIMITED	Director	13/06/2006	13/06/2006	29/10/2010	Active	NO
21	U15119DL2006PTC152490	DEVYANI INTERNATIONAL (MUMBAI) PRIVATE LIMITED	Director	25/08/2006	25/08/2006	01/05/2009	Active	NO
22	U45200DL2006PTC153494	POWER LINE VARUN CONSTRUCTIONS PRIVATE LIMITED	Director	11/09/2006	11/09/2006	01/05/2009	Active	NO
23	U45200DL2006PTC156363	PINNACLE TOWNSHIP PRIVATE LIMITED	Director	08/12/2006	08/12/2006	01/05/2009	Active	NO
24	U45200DL2006PTC156349	PINNACLE PROPMART PRIVATE LIMITED	Director	08/12/2006	08/12/2006	01/05/2009	Active	NO
25	U45200DL2006PTC156386	CAPITAL REALCON PRIVATE LIMITED	Director	08/12/2006	08/12/2006	01/05/2009	Active	NO
26	U70101DL2006PTC156543	PINNACLE BUILTMART PRIVATE LIMITED	Director	14/12/2006	14/12/2006	01/05/2009	Active	NO
27	U45200DL2006PTC156677	PINNACLE TOWN PLANNERS PRIVATE LIMITED	Director	18/12/2006	18/12/2006	01/05/2009	Active	NO
28	U45200DL2006PTC156968	CAPITAL TOWERS PRIVATE LIMITED	Director	22/12/2006	22/12/2006	01/05/2009	Active	NO
29	U45201DL2005PTC137142	MUSKAN BUILDCON PRIVATE LIMITED	Director	27/09/2007	19/03/2007	-	Amalgamated	NO
30	U45201DL2005PTC138890	PADMAWATI BUILDWELL PRIVATE LIMITED	Director	27/09/2007	19/03/2007	-	Amalgamated	NO
31	U70101DL2005PTC139985	JAIPURIA REALTORS PRIVATE LIMITED	Director	27/09/2007	19/03/2007	-	Amalgamated	NO
32	U45201DL2004PTC128734	GULAB BUILDWELL PRIVATE LIMITED	Director	27/09/2007	19/03/2007	-	Amalgamated	NO
33	U15135DL1991PLC046758	DEVYANI INTERNATIONAL LIMITED	Director	02/07/2008	13/08/2007	-	Active	NO
34	U15549DL1997PTC210769	NORTH EAST PURE DRINKS PRIVATE LIMITED	Director	22/08/2008	23/02/2008	-	Amalgamated	NO
35	U62200DL1980PLC010262	RJ CORP LIMITED	Additional director	08/11/2012	13/05/2008	-	Active	NO
36	U74899DL1991PLC046403	DEVYANI FOOD INDUSTRIES LIMITED	Director	06/09/2011	12/06/2008	-	Active	NO
37	U55101DL1998PTC091666	UNIVERSAL DAIRY PRODUCTS PRIVATE LIMITED	Additional director	04/07/2008	04/07/2008	01/10/2008	Active	NO
38	U55101DL2009PTC193995	DEVYANI FOOD STREET PRIVATE LIMITED	Director	07/09/2009	07/09/2009	-	Active	NO
39	U15134DL1965PLC129086	VARUN BEVERAGES (INTERNATIONAL) LIMITED	Director	23/09/2011	20/12/2010	-	Amalgamated	NO
40	U85100DL2011PLC217993	LINEAGE HEALTHCARE LIMITED	Director	25/04/2011	25/04/2011	-	Active	NO
41	U85195DL2005PTC137768	CRYOBANKS INTERNATIONAL INDIA PRIVATE LIMITED	Director	30/09/2011	24/08/2011	-	Active	NO
42	U55101DL2009PTC192897	DELHI SELECT SERVICE HOSPITALITY PRIVATE LIMITED	Director	27/06/2012	01/11/2011	-	Active	NO
43	U55101DL2012PTC230028	DEVYANI INTERNATIONAL COSTA PRIVATE LIMITED	Director	16/01/2012	16/01/2012	-	Active	NO
44	U55101DL2012PTC245993	DEVYANI INTERNATIONAL (CHENNAI) PRIVATE LIMITED	Director	11/12/2012	11/12/2012	-	Active	NO
45	U55209DL2012PTC246286	DEVYANI INTERNATIONAL (KOLKATA) PRIVATE LIMITED	Director	17/12/2012	17/12/2012	-	Active	NO

Name :

Mr. Ravi Kant Jaipuria

Designation :

Director

Address :

Plot No.7A, Aurangzeb Road, New Delhi – 110 011, India

Date of Birth/Age :

28.11.1954

Qualification :

MBA

Date of Appointment :

16.06.1995

DIN No.:

00003668

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	U74899DL1995PLC069839	VARUN BEVERAGES LIMITED	Director	16/06/1995	16/06/1995	-	Active	NO
2	U15135DL1991PLC046758	DEVYANI INTERNATIONAL LIMITED	Director	15/07/1996	15/07/1996	-	Active	NO
3	U74899DL1991PLC046405	PARKVIEW CITY LIMITED	Director	17/04/1999	17/04/1999	-	Active	NO
4	U74899DL1993PLC054195	SAAB TRAVEL AND TOURS LIMITED	Director	30/08/2009	17/04/1999	03/09/2009	Active	NO
5	U74899DL1999PLC101230	PARKVIEW INFRASTRUCTURES LIMITED	Director	19/08/1999	19/08/1999	06/06/2008	Active	NO
6	U64120DL1999PTC101124	UNIVERSAL TOWERS PRIVATE LIMITED	Director	30/10/1999	30/10/1999	-	Amalgamated	NO
7	U55101DL1999PTC100142	YUM RESTAURANTS MARKETING PRIVATE LIMITED	Director	02/09/2000	02/09/2000	23/02/2010	Active	NO
8	U74899DL1991PTC046386	PELICAN CAPS TECHNOLOGIES PRIVATE LIMITED	Director	25/09/2000	25/09/2000	-	Amalgamated	NO
9	U74899DL1991PTC046387	KANCHANJUNGA POWER COMPANY PRIVATE LIMITED	Director	25/09/2000	25/09/2000	21/01/2013	Active	NO
10	L32202RJ1992PLC017750	SHYAM TELECOM LIMITED	Director	20/12/2002	20/12/2002	11/02/2011	Active	NO
11	U80301DL2003PTC118290	MODERN MONTESSORI INTERNATIONAL (INDIA) PRIVATE LIMITED	Director	02/01/2003	02/01/2003	-	Active	NO
12	U74899DL1992PLC049022	LEMON TREE HOTELS LIMITED	Director	23/12/2003	23/12/2003	-	Active	NO
13	U74899DL1989PTC037343	PARKVIEW APARTMENTS PRIVATE LIMITED	Director	30/01/2004	30/01/2004	06/06/2008	Active	NO
14	U55101DL2004PTC130720	TANGERINE HOTELS PRIVATE LIMITED	Director	03/05/2005	03/05/2005	-	Amalgamated	NO
15	U85195DL2005PTC137768	CRYOBANKS INTERNATIONAL INDIA PRIVATE LIMITED	Director	20/06/2005	20/06/2005	-	Active	NO
16	U45201DL2005PTC138289	VARUN RESIDENTIAL PROJECTS PRIVATE LIMITED	Director	05/07/2005	05/07/2005	01/05/2009	Active	NO
17	U45201DL2005PTC138953	JAIPURIA TOWERS PRIVATE LIMITED	Director	21/07/2005	21/07/2005	-	Amalgamated	NO
18	U45201DL2005PTC138954	PARKVIEW INFRACON PRIVATE LIMITED	Director	21/07/2005	21/07/2005	05/06/2007	Active	NO
19	U55101DL2002PTC118179	CITRUS HOTELS PRIVATE LIMITED	Director	17/08/2005	17/08/2005	04/02/2010	Active	NO
20	U45201DL2005PTC141416	JAIPURIA LAND AND HOUSING PRIVATE LIMITED	Director	30/09/2006	04/10/2005	-	Amalgamated	NO
21	U45201DL2005PTC153311	VISION DWELLINGS PRIVATE LIMITED	Director	30/09/2006	16/02/2006	-	Amalgamated	NO
22	U45201DL2005PTC153209	VISION NIRMAN PRIVATE LIMITED	Director	30/09/2006	16/02/2006	-	Amalgamated	NO
23	U15532DL2005PTC136903	SEEBHAL DISTILLERY PRIVATE LIMITED	Director	16/02/2006	16/02/2006	14/09/2009	Active	NO
24	U70101DL2006PTC146701	JAIPURIA INFRACON PRIVATE LIMITED	Director	22/02/2006	22/02/2006	-	Amalgamated	NO
25	U70101DL2006PTC146724	JAIPURIA INFRATECH PRIVATE LIMITED	Director	23/02/2006	23/02/2006	-	Amalgamated	NO
26	U51909DL2006PTC146757	ABINBEV INDIA PRIVATE LIMITED	Director	24/02/2006	24/02/2006	-	Active	NO
27	U74899DL1987PTC027024	SHABNAM PROPERTIES PRIVATE LIMITED	Director	06/03/2006	06/03/2006	-	Active	NO
28	U74899DL1991PTC045226	NORTHERN DISTRIBUTORS PRIVATE LIMITED	Director	06/03/2006	06/03/2006	15/06/2011	Active	NO
29	U74899DL1987PTC026815	BEHARILAL BENIPERSHAD PRIVATE LIMITED	Director	06/03/2006	06/03/2006	16/06/2010	Active	NO
30	U74899DL1986PTC026518	INTERIA CRAFTS PRIVATE LIMITED	Director	06/03/2006	06/03/2006	15/06/2011	Active	NO
31	U30005DL2006PTC147252	ANGELICA TECHNOLOGIES PRIVATE LIMITED	Director	08/03/2006	08/03/2006	01/05/2009	Active	NO
32	U15511DL2000PTC154915	SEEBHAL MIKELIN DISTILLERY PRIVATE LIMITED	Director	30/09/2006	13/03/2006	14/09/2009	Active	NO
33	U70200DL2006PTC149218	PINNACLE INFRACON PRIVATE LIMITED	Director	26/05/2006	26/05/2006	13/08/2007	Active	NO
34	U70109DL2006PTC149325	PINNACLE CONSTRUCTIONS PRIVATE LIMITED	Director	30/05/2006	30/05/2006	01/05/2009	Active	NO
35	U70109DL2006PTC149697	CAPITAL INFRACON PRIVATE LIMITED	Director	13/06/2006	13/06/2006	29/10/2010	Active	NO
36	U70109DL2006PTC149698	CAPITAL DEVELOPMENTS PRIVATE LIMITED	Director	13/06/2006	13/06/2006	01/05/2009	Active	NO
37	U55101DL2005PTC138835	SPANK HOTELS PRIVATE LIMITED	Director	29/09/2006	26/07/2006	-	Amalgamated	NO
38	U15119DL2006PTC152490	DEVYANI INTERNATIONAL (MUMBAI) PRIVATE LIMITED	Director	25/08/2006	25/08/2006	01/05/2009	Active	NO
39	U45200DL2006PTC153494	POWER LINE VARUN CONSTRUCTIONS PRIVATE LIMITED	Director	11/09/2006	11/09/2006	01/05/2009	Active	NO
40	U01403DL2006PTC155072	DEVYANI AGRI BUSINESS PRIVATE LIMITED	Director	30/10/2006	30/10/2006	01/05/2009	Active	NO
41	U45200DL2006PTC156363	PINNACLE TOWNSHIP PRIVATE LIMITED	Director	08/12/2006	08/12/2006	01/05/2009	Active	NO
42	U45200DL2006PTC156349	PINNACLE PROPMART PRIVATE LIMITED	Director	08/12/2006	08/12/2006	01/05/2009	Active	NO
43	U45200DL2006PTC156386	CAPITAL REALCON PRIVATE LIMITED	Director	08/12/2006	08/12/2006	01/05/2009	Active	NO
44	U70101DL2006PTC156543	PINNACLE BUILTMART PRIVATE LIMITED	Director	14/12/2006	14/12/2006	01/05/2009	Active	NO
45	U45200DL2006PTC156677	PINNACLE TOWN PLANNERS PRIVATE LIMITED	Director	18/12/2006	18/12/2006	01/05/2009	Active	NO
46	U45200DL2006PTC156968	CAPITAL TOWERS PRIVATE LIMITED	Director	22/12/2006	22/12/2006	01/05/2009	Active	NO
47	U45201DL2005PTC137142	MUSKAN BUILDCON PRIVATE LIMITED	Director	27/09/2007	19/03/2007	-	Amalgamated	NO
48	U15134DL1965PLC129086	VARUN BEVERAGES (INTERNATIONAL) LIMITED	Director	19/03/2007	19/03/2007	-	Amalgamated	NO
49	U45201DL2005PTC138890	PADMAWATI BUILDWELL PRIVATE LIMITED	Director	27/09/2007	19/03/2007	-	Amalgamated	NO
50	U70101DL2005PTC139985	JAIPURIA REALTORS PRIVATE LIMITED	Director	27/09/2007	19/03/2007	-	Amalgamated	NO
51	U45201DL2004PTC128734	GULAB BUILDWELL PRIVATE LIMITED	Director	27/09/2007	19/03/2007	-	Amalgamated	NO
52	U15549DL1997PTC210769	NORTH EAST PURE DRINKS PRIVATE LIMITED	Director	22/08/2008	23/02/2008	-	Amalgamated	NO
53	U62200DL1980PLC010262	RJ CORP LIMITED	Additional director	08/11/2012	13/05/2008	-	Active	NO
54	U74899DL1991PLC046403	DEVYANI FOOD INDUSTRIES LIMITED	Director	06/09/2011	13/05/2008	-	Active	NO
55	U74999DL2009PTC192403	AQUA STEMLIFE INTERNATIONAL PRIVATE LIMITED	Director	21/07/2009	21/07/2009	-	Active	NO
56	U74140DL2010PTC197710	REVIVA CELL RESEARCH AND THERAPIES PRIVATE LIMITED	Director	06/01/2010	06/01/2010	-	Amalgamated	NO
57	U85100DL2011PLC217993	LINEAGE HEALTHCARE LIMITED	Director	25/04/2011	25/04/2011	-	Active	NO
58	U25199DL2011FTC226364	ALISHA TORRENT CLOSURES (INDIA) PRIVATE LIMITED	Director	17/10/2011	17/10/2011	-	Active	NO
59	U55101DL2012PTC230028	DEVYANI INTERNATIONAL COSTA PRIVATE LIMITED	Director	16/01/2012	16/01/2012	-	Active	NO
60	U80903DL2012PTC232696	DEVYANI EDUCATION FOUNDATION PRIVATE LIMITED	Director	12/03/2012	12/03/2012	-	Active	NO
61	U55101DL2013PTC250959	DEVYANI AIRPORT SERVICES (MUMBAI) PRIVATE LIMITED	Additional director	24/04/2013	24/04/2013	-	Active	NO

Name :

Mr. Christopher White

Designation :

Whole Time Director

Address :

12, Cuscaden Walk, 1-02, Four Seasons PK, Singapore 249694

Date of Birth/Age :

01.11.1961

Qualification :

LL.B

Date of Appointment :

29.06.2009

DIN No.:

01564507

PAN No.:

ABKPW4635J

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	U51909MH2007FTC175129	CONSOLIDATED BRANDS (INDIA) TRADING PRIVATE LIMITED	Director	17/10/2007	17/10/2007	04/01/2008	Strike off	NO
2	U15549DL1997PTC210769	NORTH EAST PURE DRINKS PRIVATE LIMITED	Director	22/08/2008	23/02/2008	-	Amalgamated	NO
3	U51909DL2006PTC146757	ABINBEV INDIA PRIVATE LIMITED	Director	15/06/2009	04/10/2008	-	Active	NO
4	U74899DL1995PLC069839	VARUN BEVERAGES LIMITED	Whole-time director	29/06/2009	29/06/2009	-	Active	NO
5	U15134DL1965PLC129086	VARUN BEVERAGES (INTERNATIONAL) LIMITED	Director	23/09/2011	23/09/2011	-	Amalgamated	NO
6	U25199DL2011FTC226364	ALISHA TORRENT CLOSURES (INDIA) PRIVATE LIMITED	Director	17/10/2011	17/10/2011	-	Active	NO

Name :

Mr. Kamlesh Kumar Jain

Designation :

Whole Time Director

Address :

139-D, Pocket B, Mayur Vihar, Phase – II, Delhi – 110 091, India

Date of Birth/Age :

22.06.1962

Qualification :

CA

Date of Appointment :

05.06.2009

DIN No.:

01822576

PAN No.:

AAHPJ2128D

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	U74899DL1989PTC034645	DEVYANI OVERSEAS PRIVATE LIMITED	Director	31/08/2009	31/07/1993	-	Active	NO
2	U55101DL1998PTC091666	UNIVERSAL DAIRY PRODUCTS PRIVATE LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
3	U74899DL1993PLC054195	SAAB TRAVEL AND TOURS LIMITED	Director	30/01/2009	26/12/2008	10/01/2013	Active	NO
4	U74899DL1995PLC069839	VARUN BEVERAGES LIMITED	Whole-time director	05/06/2009	18/02/2009	-	Active	NO
5	U45200DL2006PTC156386	CAPITAL REALCON PRIVATE LIMITED	Director	03/09/2009	01/05/2009	28/07/2011	Active	NO
6	U70109DL2006PTC149698	CAPITAL DEVELOPMENTS PRIVATE LIMITED	Director	26/08/2009	01/05/2009	28/07/2011	Active	NO
7	U45201DL2005PTC138289	VARUN RESIDENTIAL PROJECTS PRIVATE LIMITED	Director	10/09/2009	01/05/2009	-	Active	NO
8	U70101DL2006PTC156543	PINNACLE BUILTMART PRIVATE LIMITED	Director	25/09/2009	01/05/2009	-	Active	NO
9	U70109DL2006PTC149325	PINNACLE CONSTRUCTIONS PRIVATE LIMITED	Director	31/08/2009	01/05/2009	-	Active	NO
10	U45200DL2006PTC156677	PINNACLE TOWN PLANNERS PRIVATE LIMITED	Director	10/09/2009	01/05/2009	-	Active	NO
11	U45200DL2006PTC156968	CAPITAL TOWERS PRIVATE LIMITED	Director	01/09/2009	01/05/2009	-	Active	NO
12	U45200DL2006PTC156363	PINNACLE TOWNSHIP PRIVATE LIMITED	Director	25/09/2009	01/05/2009	-	Active	NO
13	U01403DL2006PTC155072	DEVYANI AGRI BUSINESS PRIVATE LIMITED	Director	30/09/2009	01/05/2009	-	Active	NO
14	U45200DL2006PTC156349	PINNACLE PROPMART PRIVATE LIMITED	Director	31/08/2009	01/05/2009	-	Active	NO
15	U74899DL1981PTC011706	DEVYANI HOTELS AND RESORTS PRIVATE LIMITED	Director	27/07/2009	01/05/2009	-	Active	NO
16	U30005DL2006PTC147252	ANGELICA TECHNOLOGIES PRIVATE LIMITED	Director	04/09/2009	01/05/2009	-	Active	NO
17	U45200DL2006PTC153494	POWER LINE VARUN CONSTRUCTIONS PRIVATE LIMITED	Director	19/08/2010	01/05/2009	-	Active	NO
18	U74899DL1987PTC026815	BEHARILAL BENIPERSHAD PRIVATE LIMITED	Additional director	06/07/2009	06/07/2009	16/06/2010	Active	NO
19	U74899DL1991PTC045226	NORTHERN DISTRIBUTORS PRIVATE LIMITED	Additional director	06/07/2009	06/07/2009	15/06/2011	Active	NO
20	U74899DL1986PTC026518	INTERIA CRAFTS PRIVATE LIMITED	Additional director	06/07/2009	06/07/2009	15/06/2011	Active	NO
21	U15532DL2005PTC136903	SEEBHAL DISTILLERY PRIVATE LIMITED	Director	25/09/2009	06/07/2009	15/05/2013	Active	NO
22	U74899DL1987PTC027024	SHABNAM PROPERTIES PRIVATE LIMITED	Director	10/08/2009	06/07/2009	-	Active	NO
23	U15511DL2000PTC154915	SEEBHAL MIKELIN DISTILLERY PRIVATE LIMITED	Director	16/08/2010	28/11/2009	15/05/2013	Active	NO
24	U74899DL1978PTC009190	DEVYANI ENTERPRISES PRIVATE LIMITED	Director	26/09/2011	14/06/2011	-	Active	NO
25	U74899DL1991PTC046389	SELLWELL FOODS AND BEVERAGES PRIVATE LIMITED	Additional director	13/01/2012	13/01/2012	16/08/2012	Active	NO

Name :

Mr. Kapil Agarwal

Designation :

Director

Address :

KK-85, Kavi Nagar, Ghaziabad – 201 002, Uttar Pradesh, India

Date of Birth/Age :

08.06.1964

Qualification :

B.Com and PGDBM

Date of Appointment :

11.06.2012

DIN No.:

02079161

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	U15549DL1997PTC210769	NORTH EAST PURE DRINKS PRIVATE LIMITED	Director	22/08/2008	23/02/2008	-	Amalgamated	NO
2	U74899DL1991PLC046403	DEVYANI FOOD INDUSTRIES LIMITED	Director	02/08/2010	17/08/2009	-	Active	NO
3	U51909DL2006PTC146757	ABINBEV INDIA PRIVATE LIMITED	Director	08/06/2010	26/03/2010	-	Active	NO
4	U15549DL2009PTC187422	INBEV BREWERIES (PUNJAB) PRIVATE LIMITED	Director	26/08/2010	21/04/2010	-	Active	NO
5	U15500DL2008PTC183357	INBEV DECCAN BREWERIES PRIVATE LIMITED	Director	26/08/2010	21/04/2010	-	Active	NO
6	U74899DL1995PLC069839	VARUN BEVERAGES LIMITED	Director	11/06/2012	01/01/2012	-	Active	NO

Name :

Mr. Varun Jaipuria

Designation :

Whole Time Director

Address :

Plot No.7A, Aurangzeb Road, New Delhi – 110 011, India

Date of Birth/Age :

10.11.1987

Qualification :

Graduate from Regents College, London

Date of Appointment :

01.07.2009

DIN No.:

02465412

PAN No.:

AHAPJ9246N

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	U74899DL1995PLC069839	VARUN BEVERAGES LIMITED	Whole-time director	01/07/2009	01/01/2009	-	Active	NO
2	U15135DL1991PLC046758	DEVYANI INTERNATIONAL LIMITED	Director	28/06/2010	13/11/2009	-	Active	NO
3	U62200DL1980PLC010262	RJ CORP LIMITED	Additional director	08/11/2012	22/09/2010	-	Active	NO
4	U15134DL1965PLC129086	VARUN BEVERAGES (INTERNATIONAL) LIMITED	Director	23/09/2011	23/09/2011	-	Amalgamated	NO

KEY EXECUTIVES

Name :	Mr. Gautam Seth
Designation :	Secretary
Address :	Icon Housing, T-1, 10D/6, Vaishali, Ghaziabad – 201 010, Uttar Pradesh, India
Date of Birth/Age :	19.05.1964
Date of Appointment :	26.11.2011
Name :	Mr. Kamlesh Jain
Designation :	Chief Financial Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 11.06.2012

Names of Equity Shareholders	No. of Shares
R.K. Jaipuria and Sons (HUF)	100
Devyani Enterprises Private Limited, India	100
PepsiCo India Holdings Private Limited, India	2080000
Devyani Overseas Private Limited, India	100
RJ Corp Limited, India	100
Varun Jaipuria	100
Varun Beverages (International) Limited, India	5919500
Total	8000000

As on 11.06.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	99.998
Directors or relatives of directors	0.001
Other top fifty shareholders	0.001
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacturing of Soft Drinks and also offers bottling services to PepsiCo.

Products :

Product Description	Item Code No.
Aerated Soft Drinks	2202

Brand Names :

“PEPSICO”

PRODUCTION STATUS (AS ON 31.12.2011)

Particulars	Unit	31.12.2009
Licensed Capacity		NA
Installed Capacity*
Beverages	BPM	8820
Pet Performs	PPM	1000
Crown Corks	Gross Per Day	46500
LUG Caps	Nos. Per Day	576000
Corrugated Boxes	Nos. Per Day	52000
Actual Production
Beverages	Cases/Bags	45304730
Pet Performs	Nos.	**413923105
Crown Corks	Gross	9831650
PVC Shells	Nos.	0
LUG Caps	Nos.	16966313
Cartons	Nos.	10777009

Notes

** Includes Job Work of 29036082 Nos.

* As certified by the Management and relied upon by the Auditors being a technical matter (One case of 24/12/9 Bottles).

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India

• Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23 Barakhamba Road, New Delhi – 110 001, India
• ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Vadodara – 390 015, Gujarat, India
• HDFC Bank Limited
• Punjab National Bank
• Axis Bank Limited
• Dhanalakshmi Bank Limited
• The Hongkong and Shanghai Banking Corporation Limited
• ABN Amro Bank Limited
• Kotak Mahindra Bank Limited, 15-16 Upper Ground Floor, Ambadeep Building, 14, Kasturba Gandhi Marg, New Delhi – 110 001, India
• IndusInd Bank, Dr. Gopal Das Bhawan, 28, Barakhamba Road, New Delhi – 110 001, India

Facilities :

Secured Loans	31.12.2011 (Rs. in Millions)	31.12.2010 (Rs. in Millions)
Rupee term loans banks	(A) 5178.294	(B) 3354.379
Rupee term loans others	0.000	24.990
Working capital loans banks	(C) 966.040	(D) 606.015
Loans taken for vehicles	(E) 103.344	(F) 94.944
Total	6247.678	4080.328

Notes:

(A) Term loans from IDBI Bank, HSBC, Kotak Mahindra Bank, Axis Bank, Dhanalakshmi Bank, HDFC Bank and DBS Bank are secured by 1^st charge on immoveable and moveable assets (present and future) over specific units/plants of the company ranking pari-pasu with the charges created in favour of participating Banks. Term loans from ICICI Bank and Yes Bank are secured by 1^st charge on immoveable and moveable assets (present and future) over Kosi kalan unit of the company ranking pari-pasu with each other. Term loan from Indusind Bank is secured by an exclusive charge on the specific Plant and Machinery at Jaipur and Kosi Units of the company.

Note: Some of the Loans are further secured by personal guarantee of some of the Directors of the company, their relatives and their concerns.

(B) Term loans from IDBI Bank, HSBC, Kotak Mahindra Bank, Axis Bank, Dhanalakshmi Bank, HDFC Bank and DBS Bank are secured by 1^st charge on immoveable and moveable assets (present and future) over specific units/plants of the company ranking pari-pasu with the charges created in favour of participating Banks. Term loans from ICICI Bank and Yes Bank are secured by 1^st charge on immoveable and moveable assets (present and future) over Kosi kalan unit of the company ranking pari-pasu with each other. Term loan from Indusind Bank is secured by an exclusive charge on the specific Plant and Machinery at Jaipur and Kosi Units of the company.

Note: Some of the Loans are further secured by personal guarantee of some of the Directors of the company, their relatives and their concerns.

(C) Working Capital Facilities from Banks are secured by 1^st charge on entire current assets of the Company ranking pari passu amongst the Banks and 2^nd charge on the movable and immovable assets of the company. Short Term Loans from banks are secured by way of 2^nd charge on the movable and immovable assets of the company pertaining to specific units.

(D) Working Capital Facilities from Banks are secured by 1^st charge on entire current assets of the Company ranking pari passu amongst the Banks and 2nd charge on the movable and immovable assets of the company. Short Term Loans from banks are secured by way of 2^nd charge on the movable and immovable assets of the company pertaining to specific units. Note: Some of the Loans are further secured by personal guarantee of some of the Directors of the company, their relatives and their concerns.

(E) Vehicle Loan is secured against respective vehicle financed. Note: Some of the Loans are further secured by personal guarantee of some of the Directors of the company, their relatives and their concerns.

(F) Vehicle Loan is secured against respective vehicle financed. Note: Some of the Loans are further secured by personal guarantee of some of the Directors of the company, their relatives and their concerns.

Banking Relations :	--
Auditors :
Name :	O.P. Bagla and Company Chartered Accountants
Address :	8/12, Kalkaji Extension, New Delhi – 110 019, India
Tel. No.:	91-11-26436190/ 26412939/ 26239913
Fax No.:	91-11-26239912
E-Mail :	admin@opbco.in
Website :	http://www.opbco.in
PAN No.:	AAAFO1030A
Holding Company :	Varun Beverages International Limited, India CIN No.: U15134DL1965PLC129086
Fellow Subsidiaries :	· Varun Beverages Morocco SA., Morocco · Varun Beverages (Nepal) Private Limited, Nepal · Varun Beverages Lanka Private Limited, Sri Lanka
Enterprise having significant influence :	RJ Corp Limited, India CIN No.: U62200DL1980PLC010262

CAPITAL STRUCTURE

After 11.06.2012

Authorised Capital : Rs.1860.000 millions

Issued, Subscribed & Paid-up Capital : Rs.1337.662 millions

As on 11.06.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
86000000	Equity Shares	Rs.10/- each	Rs.860.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs.80.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.12.2011	31.12.2010	31.12.2009
SHAREHOLDERS FUNDS
1] Share Capital		80.000	853.764	853.764
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1022.574	1024.276	1094.839
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1102.574	1878.040	1948.603
LOAN FUNDS
1] Secured Loans		6247.678	4080.328	2460.109
2] Unsecured Loans		2638.956	1551.312	1459.405
TOTAL BORROWING		8886.634	5631.640	3919.514
DEFERRED TAX LIABILITIES		701.726	663.524	635.767
TOTAL		10690.934	8173.204	6503.884
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7394.005	5864.595	4971.279
Capital work-in-progress		1213.362	356.661	189.758
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1700.330	1219.791	947.127
	Sundry Debtors	869.054	833.323	643.063
	Cash & Bank Balances	37.774	269.244	118.002
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1332.843	777.407	836.087
Total Current Assets		3940.001	3099.765	2544.279
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1419.717	696.170	823.686
	Other Current Liabilities	436.717	451.647	302.746
	Provisions	0.000	0.000	75.000
Total Current Liabilities		1856.434	1147.817	1201.432
Net Current Assets		2083.567	1951.948	1342.847
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		10690.934	8173.204	6503.884

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2011	31.12.2010	31.12.2009
	SALES
		Operating revenue, net	11299.284	9655.275	7482.170
		Other Income	100.134	136.573	81.655
		TOTAL (A)	11399.418	9791.848	7563.825
Less	EXPENSES
		Consumption materials changes inventories	7156.626	6043.920	6483.855
		Manufacturing service costs	1501.481	1256.534
		Employee related expenses	731.489	601.186
		Administrative selling other expenses	599.009	548.644
		TOTAL (B)	9988.605	8450.284	6483.855
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1410.813	1341.564	1079.970
Less	INTEREST FINANCIAL EXPENSES (D)		730.236	490.263	388.946
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		680.577	851.301	691.024
Less/ Add	DEPRECIATION/ AMORTISATION (F)		559.343	483.677	354.181
	PROFIT BEFORE TAX (E-F) (G)		121.234	367.624	336.843
Less	TAX (H)		43.438	119.477	114.864
	PROFIT AFTER TAX (G-H) (I)		77.796	248.147	221.979
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		992.701	1063.264	1266.429
Less	APPROPRIATIONS
		Provision for Preference Dividend	68.176	273.316	363.387
		Corporate Dividend Tax	11.323	45.394	61.758
		Transfer to Capital Redemption Reserve	743.763	0.000	0.000
			823.262
	BALANCE CARRIED TO THE B/S		247.235	992.701	1063.264
	EARNINGS IN FOREIGN CURRENCY		94.883	69.223	31.969
	IMPORTS
		Capital Goods	792.500	32.068	532.063
		Stores, Spares & Raw Material	409.533	1618.359	711.107
	TOTAL IMPORTS		1202.033	1650.427	1243.170
	Earnings Per Share (Rs.)		9.72	13.85	14.10

KEY RATIOS

PARTICULARS		31.12.2011	31.12.2010	31.12.2009
PAT / Total Income	(%)	0.68	2.53	2.93
Net Profit Margin (PBT/Sales)	(%)	1.07	3.81	4.50
Return on Total Assets (PBT/Total Assets}	(%)	1.07	4.10	4.48
Return on Investment (ROI) (PBT/Networth)		0.11	0.20	0.17
Debt Equity Ratio (Total Liability/Networth)		8.06	3.00	2.01
Current Ratio (Current Asset/Current Liability)		2.12	2.70	2.12

LOCAL AGENCY FURTHER INFORMATION

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	Yes
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%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
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	No
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	Yes
33) Voter ID No of Proprietor/Partner/Director, if available	No
34) External Agency Rating, if available	Yes

Unsecured Loans	31.12.2011 (Rs. in Millions)	31.12.2010 (Rs. in Millions)
Other debt
Deferred Value Added Tax	1247.816	874.385
From Limited Companies	1391.140	676.927
Total	2638.956	1551.312

OPERATIONS

During the year, the Company has achieved a net sale and other income of Rs.11399.420 millions as against Rs.9791.850 millions of the previous year, thereby registering a growth of 16.41%.

SETTING UP OF NEW PLANT

During the year, the Company has set up a new plant with an installed capacity of 600 BPM Pet Line and 450 BPM Glass Line at a cost of Rs.1000.000 millions. The new plant is located at Village Tajpur, Tehsil Nuh, District Mewat, Haryana and is meant for bottling of Pepsico brands of aerated/ juice based beverages and bottled water.

REDEMPTION OF PREFERENCE SHARES

During the year, the Company has redeemed 7,737,635 10 years cumulative redeemable preference shares of Rs.100/- each held by PepsiCo India Holdings Private Limited from the retained earnings of the Company.

RE-CLASSIFICATION OF SHARE CAPITAL

During the year, the Authorised Share Capital of the Company amounting Rs.860.000 millions comprising of 8,623,650 Equity Shares of Rs.10/- each and 7,737,635 Preference Shares of Rs.100/- each was reclassified into 86,000,000 Equity Shares of Rs. 10/- each.

HOLDING COMPANY

During the year, the Company has become a subsidiary of Varun Beverages (International) Limited.

Bankers Charges Report as per Registry

Corporate identity number of the company	U74899DL1995PLC069839
Name of the company	VARUN BEVERAGES LIMITED
Address of the registered office or of the principal place of business in India of the company	F-2/7, Okhla Industrial Area, Phase I, New Delhi – 110 020, India E-Mail: soniya.khandelwal@rjcorp.in
This form is for	Modification of charge
Charge identification number of the modified	10297084
Type of charge	Book Debts Movable Property (not being pledge) Floating Charge Others (All Current Assets and Movable Fixed Assets)
Particular of charge holder	Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India E-Mail: DelhiCADMidoffice@YESBANK.IN
Nature of description of the instrument creating or modifying the charge	Supplemental Deed of Hypothecation dated 15.03.2013
Date of instrument Creating the charge	15.03.2013
Amount secured by the charge	Rs.800.000 millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest: 1) STL: To be decided by lender at the time of each disbursement. 1a) ULC: 0.45% per annum plus applicable taxes. 1b) BC: To be decided by lender at the time of each transaction. Terms of Repayment: 1) Short Term Loan ("STL"): Principal to be repaid through bullet payment at the end of tenor. 1a) Usance Letter of Credit ("ULC") (sub limit of STL): N.A. 1b) Buyers Credit ("BC") (sub limit of STL): N.A. Margin: 1) Short Term Loan ("STL"): Nil 1a) Usance Letter of Credit ("ULC") (sub limit of STL): Nil 1b) Buyers Credit ("BC") (sub limit of STL): Nil Extent and Operation of the charge: Subservient charge on all the Current Assets and Movable Fixed Assets of the Borrower (both present and future).
Short particulars of the property charged	Subservient Charge on whole of Current Assets of the borrower's stocks of raw material, semi-finished and finished goods, stores and spares, bills receivables and book debts (both present and future). Subservient Charge on whole of Movable Fixed Assets of the borrower situated anywhere in India (both present and future).
Particulars of the present modification	Present modification is pursuant to following changes:- 1) STL facility enhanced from INR 300.000 Millions to INR 800.000 Millions. 1a) Fresh sanction of ULC of INR 300.000 Millions as sub limit of STL. 1b) Fresh sanction of BC of INR 300.000 Millions as sub limit of STL. Overall exposure stands enhanced from INR 300.000 Millions to INR 800.000 Millions. The enhanced facilities shall now be additionally secured by Subservient Charge on all the Movable Fixed Assets of the Borrower (both present and future) in additional to Current Assets.

Fixed Assets:

· Market Infrastructure

· Land and Site Development

· Building

· Plant and Machinery

· Furniture and Fixtures

· Computer (Software and Hardware)

· Office Equipments

· Vehicles

· Visicoolers and PMX Machines

· Containers (Bottles and Shells)

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.58.74
UK Pound	1	Rs.91.99
Euro	1	Rs.78.70

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		35

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.