MIRA INFORM REPORT

Report Date :

04.03.2013

IDENTIFICATION DETAILS

Name :	VARUN BEVERAGES (INTERNATIONAL) LIMITED (w.e.f. 18.11.2010)
Formerly Known As :	GOA BOTTLING COMPANY LIMITED
Registered Office :	F 2/7 Okhla Industrial Area Phase I, Delhi – 110020
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.11.1965
Com. Reg. No.:	55-129086
Capital Investment / Paid-up Capital :	Rs.25.700 Millions
CIN No.: [Company Identification No.]	U15134DL1965PLC129086
PAN No.: [Permanent Account No.]	AAACG7763M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject offers Bottling services to Pepsi-co.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (36)

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

Maximum Credit Limit :	USD 1000000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a well established company having a moderate track record. The company has changed its date of filing annual return. The latest balance sheet is not made available with the government department. As per available financial detail, the external borrowing appears to be huge which may affect the liquidity position of the company. However, performance of the company seems to satisfactory. Trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered / Office :	F 2/7 Okhla Industrial Area Phase I, Delhi – 110020, India
Tel. No.:	91-11-51706720/ 725
Fax No.:	91-11-26813665
E-Mail :	gautam.seth@rjcorp.in
Corporate Office :	Plot No.31, Institutional Area Sector 44, Gurgaon , Haryana – 122002, India
Tel. No.:	91-124-4643100/ 500
Fax No.:	91-124-4643203/ 04
Website :	www.rjcorp.in

DIRECTORS

As on: 13.06.2012

Name :

Mr. Raj Pal Gandhi

Designation :

Director

Address :

H No. P- 2/ 50, DLF City Phase II, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

07.06.1957

Date of Appointment :

23.09.2011

DIN No.:

00003649

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	-	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 PVT LTD	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	-	Active	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, Auranzeb Road, New Delhi – 110011, India

Date of Birth/Age :

28.11.1954

Date of Appointment :

19.03.2007

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	-	Active	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 PVT LTD	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

Name :

Mr. Rajesh Chopra

Designation :

Director

Address :

13 Bhera Enclave, Paschim Vihar, New Delhi- 110087, India

Date of Birth/Age :

25.02.1960

Date of Appointment :

29.06.2009

DIN No.:

00003964

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	U74899DL1991PTC046389	SELLWELL FOODS AND BEVERAGES PRIVATE LIMITED	Director	28/12/2002	28/12/2002	13/01/2012	Active	NO
2	U74899DL1987PTC026811	DEVYANI EXIM PRIVATE LIMITED	Director	17/02/2003	17/02/2003	-	Amalgamated	NO
3	U74899DL1978PTC009190	DEVYANI ENTERPRISES PRIVATE LIMITED	Director	17/02/2003	17/02/2003	14/06/2011	Active	NO
4	U62200DL1980PLC010262	RJ Corp Limited	Director	27/09/2011	11/12/2003	-	Active	NO
5	U74899DL1991PTC046376	ANUJ TRADERS PRIVATE LIMITED	Director	11/12/2003	11/12/2003	-	Active	NO
6	U74899DL1975PTC007694	DEVYANI LEISURES PRIVATE LIMITED	Director	21/10/2004	21/10/2004	-	Active	NO
7	U74899DL1981PTC011706	DEVYANI HOTELS AND RESORTS PRIVATE LIMITED	Director	21/10/2004	21/10/2004	-	Active	NO
8	U55101DL1998PTC091666	UNIVERSAL DAIRY PRODUCTS PRIVATE LIMITED	Director	23/11/2004	23/11/2004	-	Active	NO
9	U74899DL1987PTC026815	BEHARILAL BENIPERSHAD PRIVATE LIMITED	Director	20/07/2006	20/07/2006	16/06/2010	Active	NO
10	U74899DL1986PTC026518	INTERIA CRAFTS PRIVATE LIMITED	Director	20/07/2006	20/07/2006	15/06/2011	Active	NO
11	U74899DL1987PTC027024	SHABNAM PROPERTIES PRIVATE LIMITED	Director	20/07/2006	20/07/2006	-	Active	NO
12	U74899DL1991PTC045226	NORTHERN DISTRIBUTORS PRIVATE LIMITED	Director	20/07/2006	20/07/2006	15/06/2011	Active	NO
13	U55101DL2006PTC153561	D. J. AGRI INDUSTRIES PRIVATE LIMITED	Director	02/02/2007	02/02/2007	-	Active	NO
14	U70200DL2006PTC149218	PINNACLE INFRACON PRIVATE LIMITED	Director	22/11/2007	21/07/2007	-	Active	NO
15	U74899DL1991PTC046381	RATNAKER FOODS AND BEVERAGES PRIVATE LIMITED	Director	30/09/2008	13/05/2008	-	Active	NO
16	U92419RJ2005PTC021761	PINKCITY SPORTS COMPLEX PRIVATE LIMITED	Director	30/09/2008	13/05/2008	-	Active	NO
17	U74899DL1985PTC022537	S V S INDIA PRIVATE LTD	Director	13/05/2008	13/05/2008	-	Active	NO
18	U74899DL1991PLC046405	PARKVIEW CITY LIMITED	Director	25/07/2008	16/05/2008	-	Active	NO
19	U74899DL1993PLC054195	SAAB TRAVEL AND TOURS LIMITED	Director	30/01/2009	22/12/2008	10/01/2013	Active	NO
20	U45201DL2005PTC138289	VARUN RESIDENTIAL PROJECTS PRIVATE LIMITED	Director	10/09/2009	01/05/2009	-	Active	NO
21	U70101DL2006PTC156543	PINNACLE BUILTMART PRIVATE LIMITED	Director	25/09/2009	01/05/2009	-	Active	NO
22	U70109DL2006PTC149325	PINNACLE CONSTRUCTIONS PRIVATE LIMITED	Director	31/08/2009	01/05/2009	-	Active	NO
23	U45200DL2006PTC156677	PINNACLE TOWN PLANNERS PRIVATE LIMITED	Director	10/09/2009	01/05/2009	-	Active	NO
24	U45200DL2006PTC156968	CAPITAL TOWERS PRIVATE LIMITED	Director	01/09/2009	01/05/2009	-	Active	NO
25	U45200DL2006PTC156363	PINNACLE TOWNSHIP PRIVATE LIMITED	Director	25/09/2009	01/05/2009	-	Active	NO
26	U01403DL2006PTC155072	DEVYANI AGRI BUSINESS PRIVATE LIMITED	Director	30/09/2009	01/05/2009	-	Active	NO
27	U45200DL2006PTC156349	PINNACLE PROPMART PRIVATE LIMITED	Director	31/08/2009	01/05/2009	-	Active	NO
28	U30005DL2006PTC147252	Angelica Technologies Private Limited	Director	04/09/2009	01/05/2009	-	Active	NO
29	U45200DL2006PTC153494	Power Line Varun Constructions Private Limited	Director	19/08/2010	01/05/2009	-	Active	NO
30	U15134DL1965PLC129086	Varun Beverages (International) Limited	Director	29/06/2009	01/05/2009	-	Active	NO
31	U45200DL2006PTC156386	CAPITAL REALCON PRIVATE LIMITED	Director	03/09/2009	01/05/2009	28/07/2011	Active	NO
32	U70109DL2006PTC149698	CAPITAL DEVELOPMENTS PRIVATE LIMITED	Director	26/08/2009	01/05/2009	28/07/2011	Active	NO
33	U74899DL1991PLC046403	DEVYANI FOOD INDUSTRIES LIMITED	Director	02/08/2010	17/08/2009	-	Active	NO
34	U15532DL2005PTC136903	SEEBHAL DISTILLERY PRIVATE LIMITED	Director	25/09/2009	14/09/2009	-	Active	NO
35	U15511DL2000PTC154915	SEEBHAL MIKELIN DISTILLERY PRIVATE LIMITED	Director	16/08/2010	14/09/2009	-	Active	NO
36	U70109DL2006PTC149697	CAPITAL INFRACON PRIVATE LIMITED	Director	26/09/2011	29/10/2010	-	Active	NO

Name :

Mr. Christopher White

Designation :

Director

Address :

12 Cuscaden Walk, 19 – 02 Four Seasons P K, Singapore

Date of Birth/Age :

01.11.1961

Date of Appointment :

23.09.2011

DIN No.:

01564507

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 PVT LTD	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	-	Active	NO
6	U25199DL2011FTC226364	ALISHA TORRENT CLOSURES (INDIA) PRIVATE LIMITED	Director	17/10/2011	17/10/2011	-	Active	NO

Name :

Mr. Nitin Tailor

Designation :

Whole-time director

Address :

H No. 54, A 1, Amrut Nagar, Gogol, Post Fatorda, Madgoan - 403602, Goa, India

Date of Birth/Age :

03.11.1959

Date of Appointment :

11.04.2011

DIN No.:

01861157

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	U15134DL1965PLC129086	Varun Beverages (International) Limited	Whole-time director	01/04/2011	01/01/2003	-	Active	NO
2	U15511DL2000PTC154915	SEEBHAL MIKELIN DISTILLERY PRIVATE LIMITED	Director	13/03/2006	13/03/2006	-	Active	NO

Name :

Mr. Varun Jaipurai

Designation :

Director

Address :

Plot No. 7 A, Aurangzeb Road, New Delhi – 110011, India

Date of Birth/Age :

10.11.1987

Date of Appointment :

23.09.2011

DIN No.:

02465412

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	-	Active	NO

Name :

Mr. Udai Dhawan

Designation :

Director

Address :

107, First Floor, Anand Lok, New Delhi – 110049, India

Date of Birth/Age :

17.01.1973

Date of Appointment :

18.07.2011

DIN No.:

03048040

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	U55101KA2008PTC046866	COFFEE DAY RESORTS PRIVATE LIMITED	Alternate director	14/04/2010	14/04/2010	-	Active	NO
2	U85110KA1993PLC015001	AMALGAMATED BEAN COFFEE TRADING COMPANY LIMITED	Alternate director	07/06/2010	07/06/2010	-	Active	NO
3	U28999KA2001PTC029937	FIREPRO SYSTEMS PRIVATE LIMITED	Nominee director	21/12/2012	15/07/2010	-	Active	NO
4	U74999DL2005PTC132134	INTERGLOBE TECHNOLOGY QUOTIENT PRIVATE LIMITED	Alternate director	14/03/2012	16/07/2010	-	Active	NO
5	U15134DL1965PLC129086	Varun Beverages (International) Limited	Director	18/07/2011	18/07/2011	-	Active	NO

Name :

Mr. Dolina Brahma

Designation :

Director

Address :

Patgaon (Rani) Guwahati – 781017, Assam, India

Date of Birth/Age :

09.04.1972

Date of Appointment :

23.09.2011

DIN No.:

03591837

KEY EXECUTIVES

Name :	Mr. Hermit Singh Grover
Designation :	Secretary
Address :	B - 1A / 72 C, Janak Puri, New Delhi – 110058, India
Date of Birth/Age :	06.05.1954
Date of Appointment :	03.01.2011
PAN No.:	AAJPG5008K

MAJOR SHAREHOLDERS

As on: 13.06.2012

Names of Shareholders	No. of Shares
Jaipuria Dhara	600
Jaipuria Devyani	600
Devyani Overseas Private Limited	1800
Devyani Enterprises Private Limited	600
Universal Dairy Products Private Limited	600
R.K. Jaipuria and Sons (HUF)	15004200
RJ Corp Limited	15411600
Jaipuria Varun	15000000
Standard Chartered private equity Mauritius II Limited	600
Total	45420600

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	33.94
Directors or relatives of Directors	33.03
Other top fifty shareholders	33.03
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject offers Bottling services to Pepsi-co.

PRODUCTION STATUS (As on 31.03.2012)

Particulars	Unit	Installed Capacity	Actual Production
Aerated Beverages Glass	BPM	840	--
Aerated Beverages Pet	BPM	120	--
Fruit Juice	BPM	360	--
Aerated Beverages	Cases	--	4468656
Fruit Juice	Cases	--	516258

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Axis Bank Limited, 2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi - 110001, India

· IDBI Bank Limited, Surya Kiran Building 11th Floor, 19 K G Marg, New Delhi - 110001, Delhi, India

· Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks	2297.747	452.000
Rupee term loans others	19.871	10.592
Working capital loans banks	88.185	105.485
Total	2405.803	568.077
Note: 1) ECB Loan from Standard Chartered Bank is secured by way of first and exclusive charge over all monies presently deposited or credited/to be deposited or credited from time to time, into the DSRA Account with SCB, Pledge of Unlisted Equity shares held by the holding and associate company. The Loan is further secured by a corporate guarantee of an associate company. 2) Term Loan from Kotak Mahindra Prime Limited is secured by Pledge of Unlisted Equity shares held by the holding company, Sharing of Second pari-passu charge on Mortgage of immovable property belonging to associate companies, Pledge of Unlisted Equity Shares and Hypothecation of current assets and movable fixed assets of associate companies. The Loan is further secured by the corporate guarantees of associate companies. 3) Term loans and working capital facilities from Yes Bank are secured by exclusive charge on fixed assets, current assets and loan and advances of the Company pertaining to Goa Unit, Pledge of Shares of Holding Company held by an associate, Corporate Guarantee of Holding Company, Escrow of all cash flows of the company with Yes Bank Limited. 4) Term Loans from NEDFI and IDBI Bank are secured against all moveable and immovable assets of the company pertaining to Guwahati unit. Term Loans include an amount of Rs. 49.149 Millions and 18.533 Millions respectively converted into Zero Coupon Debentures. Necessary formalities for the same are underway. 5) Term Loan From Standard Chartered Bank for Guwahati Unit is secured by a specific charge on Fixed assets created out of said loan. 6) Term Loan From Yes Bank Limited for Investment in Sri-Lankan Subsidiary is secured by exclusive charge on the loans and advances extended by the company to its Sri Lankan subsidiary, Subservient charge on all fixed assets of the company pertaining to Guwahati Unit. The loan is furthur secured by Pledge of Unlisted Equity Shares held by the Holding Company and its Corporate Guarantee. Note: Some of the Loans are further secured by personal guarantee of some of the Directors of the company, their relatives and their concerns. 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. Working Capital Facilities from IDBI Bank for Guwahati unit is secured by 1st charge on entire current assets of the Company pertaining to Guwahati Unit and 2nd pari-passu charge on the movable and immovable assets of the company at Guwahati unit. 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 Comapny Chartered Accountants
Address :	8/12, Kalkaji Extension, New Delhi, India
Tel. No.:	91-11-26436190/ 26412939/ 26239913
Fax No.:	91-26239912
E-Mail :	opbco@vsnl.com
PAN.:	AAAFO1030A
Holding company :	RJ Corp Limited CIN No.: U62200DL1980PLC010262
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Sellwell Foods and Beverages Private Limited CIN No.: U74899DL1991PTC046389
Subsidiary Company :	· Varun Beverages Morocco South Africa · Varun Beverages Lanka (Private) Limited

CAPITAL STRUCTURE

After: 13.06.2012

Authorised Capital : Rs.1000.00 Millions

Issued, Subscribed & Paid-up Capital : Rs.862.991 Millions

As on: 13.06.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000000	Equity Shares	Rs.10/- each	Rs.1000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
45420600	Equity Shares	Rs.10/- each	Rs.454.206 Millions

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.100/- each	Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
257000	Equity Shares	Rs.100/- each	Rs.25.700 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		25.700	25.700	25.700
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		238.836	195.915	156.029
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		264.536	221.615	181.729
LOAN FUNDS
1] Secured Loans		2405.803	568.077	206.779
2] Unsecured Loans		1.491	0.439	0.000
TOTAL BORROWING		2407.294	568.516	206.779
DEFERRED TAX LIABILITIES		86.372	20.616	21.839
TOTAL		2758.202	810.747	410.347
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		818.330	220.984	217.963
Capital work-in-progress		56.628	1.190	0.000
INVESTMENT		269.656	0.156	57.512
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	241.707	146.644	45.314
	Sundry Debtors	167.374	49.717	33.803
	Cash & Bank Balances	62.590	3.297	6.598
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3523.476	619.330	253.371
Total Current Assets		3995.147	818.988	339.086
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2314.108	171.787	180.716
	Other Current Liabilities	51.451	36.284	0
	Provisions	16.000	22.500	23.500
Total Current Liabilities		2381.559	230.571	204.216
Net Current Assets		1613.588	588.417	134.871
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2758.202	810.747	410.347

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.12.2011	31.03.2011	31.03.2010	31.03.2009
	SALES
		Revenue from operations		2299.040	1659.160	648.803	527.053
		Other Income		131.250	56.840	2.068	2.472
		Increase / (Decrease) in stock		0.000	0.000	0.000	10.540
		TOTAL (A)		2430.290	1716.000	650.871	540.065
Less	EXPENSES
		Cost of materials consumed		472.950	446.150	542.362	418.866
		Purchases of stock-in-trade		1144.070	656.170
		Changes in inventories of finished goods, work-in-progress and stock-in-trade		74.700	(33.220)
		Employee benefit expense		71.210	93.990
		Other expenses		291.010	265.390
		TOTAL (B)		2053.940	1428.480	542.362	418.866
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			376.350	287.520	108.509	121.199
Less	FINANCIAL EXPENSES (D)			160.510	147.420	10.500	23.655
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			215.840	140.100	98.009	97.544
Less/ Add	DEPRECIATION/ AMORTISATION (F)			56.860	62.270	32.162	32.149
	PROFIT BEFORE TAX (E-F) (G)			158.980	77.830	65.847	65.395
Less	TAX (H)			55.130	32.220	23.393	24.439
	PROFIT AFTER TAX (G-H) (I)			103.850	45.610	42.454	40.956
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			NA	176.434	133.980	93.024
	BALANCE CARRIED TO THE B/S			NA	222.049	176.434	133.380
	IMPORTS
			Raw Materials	NA	NIL	73.239	NA
			Capital Goods			2.160
	TOTAL IMPORTS			NA	NIL	75.399	NA
	Earnings Per Share (Rs.)			6.37	177.49	165.19	159.36

KEY RATIOS

PARTICULARS		31.12.2012	31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.27	2.66	6.52	7.58
Net Profit Margin (PBT/Sales)	(%)	6.92	4.69	10.15	12.41
Return on Total Assets (PBT/Total Assets}	(%)	NA	1.62	6.33	11.74
Return on Investment (ROI) (PBT/Networth)		NA	0.29	0.30	0.36
Debt Equity Ratio (Total Debt/Networth)		NA	9.10	2.57	1.14
Current Ratio (Current Asset/Current Liability)		NA	1.68	3.55	1.66

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	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	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 31.03.2011	As on 31.03.2010
Rupee term loans others	1.491	0.439
Total	1.491	0.439

Note:

Unsecured loans from Limited Companies.

BANKERS CHARGES REPORT AS PER REGISTRY:

Corporate identity number of the company	U15134DL1965PLC129086
Name of the company	Varun Beverages (International) 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, Delhi - 110020, India gautam.seth@rjcorp.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10368990
Type of charge	· Immovable property · Movable property (not being pledge) · Floating charge · Others (Fixed Assets of the Borrower)
Particular of charge holder	Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India delhicadmidoffice@yesbank.in CIN No.: L65190MH2003PLC143249
Nature of instrument creating charge	Memorandum of Entry dated 12.09.2012
Date of instrument Creating the charge	12.09.2012
Amount secured by the charge	Rs.500.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Term Loan (INR 500.0000 Millions): 12.0%p.a. (fixed rate) Terms of Repayment Term Loan: Principal to be repaid by way of 6 bi-annual installments as mentioned below - Due Dates Amount May 01, 2013 INR 62.50 MM June 01, 2013 INR 62.50 MM May 01, 2014 INR 62.50 MM June 01, 2014 INR 62.50 MM May 01, 2015 INR 125.00 MM June 01, 2015 INR 125.00 MM Margin Term Loan: NA Extent and Operation of the charge First Charge on all the Movable Fixed Assets of the Borrower (both present and future) pertaining to Goa plant situated at Arlem, Raia, Salcete, Goa except those which are exclusively charged to other lenders. First Charge on Immovable Fixed Assets of the Borrower pertaining to Goa plant situated at Arlem, Raia, Salcete, Goa.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	· First charge on all the Movable Fixed Assets of the Borrower (both present and Future) pertaining to Goa Plant at Arlem, Raia, Salcete, Goa except those which are exclusively charged to other bankers. · First charge on Survey No. 274/4, Plot B, land measuring 947 sq. mtrs (approx), in the State of Goa. · First charge on Survey No. 273/11 and part of 273/12, Property known as Arlem Merechem Cantem, situated at Arlem, within the Village Panchayat of Raia, Taluka and Sub District of Salcete, South Goa. · First charge on Survey No. 274/3, Property known as Arlem Merechem Cantem, having an area of 5043 sq. mtrs at Raia District of Goa and Sub District of Salcete, South Goa. · First charge on Survey No. 274/3, Property known as Arlem Merechem Cantem, having an area of 366 sq. mtrs. · First charge on Survey No. 273/10, having an area of 3150 sq. mtrs situated at Arlem of Village Raia in Salcete Taluka District of South Goa.
Particulars of the present modification	Existing Term Loan facility of INR 500 MM shall now be additionally secured by way of following properties on first charge basis: 1. Survey No. 274/4, Plot B in the State of Goa. 2. Survey No. 273/11 & part of 273/12, Property known as Arlem Merechem Cantem, situated at Arlem, South Goa. 3. Survey No. 274/3, Property known as Arlem Merechem Cantem, at Raia District of Goa. 4. Survey No. 274/3, Property known as Arlem Merechem Cantem. 5. Survey No. 273/10, situated at Arlem of Village Raia, Goa.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Office Equipments

· Furniture and Fixtures

· Motor Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.48
UK Pound	1	Rs.82.72
Euro	1	Rs.71.27

INFORMATION DETAILS

Report Prepared by :

RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		36

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.