MIRA INFORM REPORT

Report Date :

15.05.2013

IDENTIFICATION DETAILS

Name :	OM INDIA TRADING COMPANY PRIVATE LIMITED (w.e.f. 12.03.2010)
Formerly Known As :	ASSAM GINNING AND INDUSTRIES PRIVATE LIMITED
Registered Office :	East Market, Karim Bazar, Karim Ganj – 788710, Assam
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	19.08.1975
Com. Reg. No.:	02-001628
Capital Investment / Paid-up Capital :	Rs.72.471 Millions
CIN No.: [Company Identification No.]	U01405AS1975PTC001628
PAN No.: [Permanent Account No.]	AACCA7130Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Trader and Exporter of Cotton, Other Agro Based Products like, Grain, Oil Seeds, Pulses etc.
No. of Employees :	100 (Approximately)

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 1100000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The profitability of the company appears to be low. However, performance capability is high. 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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	A3 (Short Term Rating)
Rating Explanation	Having moderate degree of safety regarding timely payment of financial obligation.
Date	January, 2012

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY

Name :	Mr. Sandeep Bhura
Designation :	Director
Contact No.:	91-9810391181
Date :	14.05.2013

LOCATIONS

Registered Office :	East Market, Karim Bazar, Karim Ganj – 788710, Assam, India
Tel. No.:	91-11-43720000
Mobile No.:	91-9810391181 (Mr. Sandeep Bhura)
Fax No.:	91-11-23730173
E-Mail :	info@seeds.grains.com accounts@seeds-grains.com
Website :	www.seeds-grains.com
Branch Office :	1004, Nirmal Towers, Barakhamba Road, New Delhi – 110001, India

DIRECTORS

As on: 29.09.2012

Name :

Mr. Sandeep Kumar Bhura

Designation :

Director

Address :

T – 23, IIND Floor, Green Park Main, New Delhi – 110017, India

Date of Birth/Age :

03.02.1980

Date of Appointment :

28.02.2001

DIN No.:

01476968

PAN No.:

AEAPB3478F

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	U01405AS1975PTC001628	OM INDIA TRADING COMPANY PRIVATE LIMITED	Director	28/02/2001	28/02/2001	-	Active	NO
2	U15317DL2006PTC145990	AYAM FOODS PRIVATE LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO
3	U70109DL2008PTC177231	AAA REALTORS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO
4	U91110WB1957NPL023474	SHELLAC AND FOREST PRODUCTS EXPORT PROMOTION COUNCIL	Additional director	28/09/2012	28/09/2012	-	Active	NO

Name :

Mr. Sanjay Kumar Bhura

Designation :

Director

Address :

D – 35, Saket, New Delhi – 110017, India

Date of Birth/Age :

02.09.1971

Date of Appointment :

28.02.2001

DIN No.:

00097782

PAN No.:

ACAPB0744L

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	U01405AS1975PTC001628	OM INDIA TRADING COMPANY PRIVATE LIMITED	Director	28/02/2001	28/02/2001	-	Active	NO
2	U15317DL2006PTC145990	AYAM FOODS PRIVATE LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO
3	U70109DL2008PTC177231	AAA REALTORS PRIVATE LIMITED	Director	25/04/2008	25/04/2008	-	Active	NO

MAJOR SHAREHOLDERS

As on: 29.09.2012

Names of Shareholders	No. of Shares
Keshri Chand Bhura	86120
Nirmal Kumar Bhura	8000
Manik Chand Surana	51000
Banshi Lal Bothra	2500
Rajendra Kumar Bhura	90850
Sanjay Kumar Bhura	1921905
Sandeep Kumar Bhura	1449850
Bimala Devi Bhura	118850
Peush Kumar Bhura	100
Tolaram Anchalia	5000
Sanjay Kumar Bhura and Sons, India	36650
Jai Chand Lal Bothra	5000
Namita Bhura	335000
K.C. Bhura and Sons	32300
Namita Family Trust	1490000
Arushi Family Trust	1614000
Total	7247125

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of Directors	99.12
Other	0.88
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Trader and Exporter of Cotton, Other Agro Based Products like, Grain, Oil Seeds, Pulses etc.

Products :

Products	ITC Code
Seeds	12074010
Cotton	12072090

Exports :

Products :

Cotton, Other Agro Based Products like, Grain, Oil Seeds, Pulses etc.

Countries :

· USA

· UK

· Japan

· Australia

· Malaysia

· Korea

· Egypt

· China

Terms :

Selling :

L/C, Cash and Credit (30 Days)

Purchasing :

Cash and Credit (30 Days)

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

100 (Approximately)

Bankers :

· State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi - 110001, India

· HSBC Bank

· Indian Bank

· Bank of Baroda

· United Bank of India

· ICICI Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
SHORT TERM BORROWING
Working capital loans from banks	539.881	534.721
Total	539.881	534.721

Banking Relations :	--
Auditors :
Name :	Narender Nath and Company Chartered Accountants
Address :	9036/1, Multani Dhanda, Paharganj, New Delhi, India
PAN No.:	AAFPN8965L
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Seeds and Grains India Private Limited U01113AS2002PTC007850
Subsidiary Company :	· AAA Realtors Private Limited CIN No.: U70109DL2008PTC177231 · Ayam Foods Private Limited CIN No.: U15317DL2006PTC145990

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7247125	Equity Shares	Rs.10/- each	Rs.72.471 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		72.471	72.471	70.065
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		223.791	191.798	137.081
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		296.262	264.269	207.146
LOAN FUNDS
1] Secured Loans		593.881	534.721	656.774
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		593.881	534.721	656.774
DEFERRED TAX LIABILITIES		0.000	0.003	0.000
TOTAL		890.143	798.993	864.000
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		74.060	55.722	4.057
Capital work-in-progress		55.422	0.267	0.000
INVESTMENT		15.660	15.410	15.310
DEFERREX TAX ASSETS		0.004	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	517.768	498.979	596.334
	Sundry Debtors	164.026	105.929	250.273
	Cash & Bank Balances	103.919	104.804	95.505
	Other Current Assets	136.825	101.851	77.738
	Loans & Advances	25.215	18.194	35.254
Total Current Assets		947.753	829.757	1055.104
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	177.936	71.140	94.080
	Other Current Liabilities	24.820	31.023	108.34
	Provisions	0.000	0.000	8.235
Total Current Liabilities		202.756	102.163	210.655
Net Current Assets		744.997	727.594	844.449
MISCELLANEOUS EXPENSES		0.000	0.000	0.184
TOTAL		890.143	798.993	864.000

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	6198.019	3400.869	2957.330
		Other Income	29.066	(3.965)	11.866
		TOTAL (A)	6227.085	3396.904	2969.196
Less	EXPENSES
		Office Expenses	6084.368	3315.140	2944.838
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	6084.368	3315.140	2944.838
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		142.717	81.764	(Including Financial Expenses)
Less	FINANCIAL EXPENSES (D)		94.338	52.408
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		48.379	29.356	24.358
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.783	0.962	1.308
	PROFIT BEFORE TAX (E-F) (G)		47.596	28.394	23.050
Less	TAX (H)		15.603	9.771	8.196
	PROFIT AFTER TAX (G-H) (I)		31.993	18.623	14.854
	Earnings Per Share (Rs.)		4.41	2.57	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.51	0.55	0.50
Net Profit Margin (PBT/Sales)	(%)	0.77	0.83	0.78
Return on Total Assets (PBT/Total Assets}	(%)	4.66	3.21	2.18
Return on Investment (ROI) (PBT/Networth)		0.16	0.11	0.11
Debt Equity Ratio (Total Debt /Networth)		2.00	2.02	3.17
Current Ratio (Current Asset/Current Liability)		4.67	8.12	5.01

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	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	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U01405AS1975PTC001628
Name of the company	OM INDIA TRADING COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	East Market, Karimganj Bazar, Karimganj, Assam – 788710, India accounts@seeds-grains.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10032564
Type of charge	· Immovable property · Any interest in immovable property · Book debts · Movable property (not being pledge)
Particular of charge holder	State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan 1, Tolstoy Marg, New Delhi – 110001, India sushil.k.kumar@sbi.co.in
Nature of instrument creating charge	1. Company's confirmatory letter dated 17.09.2012 mentioned by way of deposit of Title Deed of the Property of Company 2. Agreement of loan for increase in overall limit dated 15.09.2012 3. Agreement of hypothecation of goods and assets for increase in the overall limit dated 15.09.2012 4. Letter regarding grant of individual limits within the overall limit dated 15.09.2012 5. Deed of Corporate Guarantee by M/s Ayam Foods Private Limited Date 15.09.2012
Date of instrument Creating the charge	15.09.2012
Amount secured by the charge	Rs.2.835 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest TL- 0.25% above base rate; present effective rate 10.25% p.a. Terms of Repayment Repayable to the Bank the said TL of Rs.193.400 Millions by 120 Easy Monthly Installments (EMI) commencing from 31.03.2013 and ending on 28.02.2023 Margin 20% each on Raw Material, Stock in Process and Finished Goods, Extent and Operation of the charge The charge operates till the repayment of all the dues in respect of credit facilities availed/to be availed by the company from the bank. Others The above is to secure the credit facilities provided by the bank as under : EPC - Rs.330.000 Millions, FBP - Rs.220.000 Millions, Advance to Suppliers - (Rs.50.000 Millions), Adv. against Export Bill sent for collection - (Rs.50.000 Millions), Term Loan - Rs.193.400 Millions, BG - Rs.30.000 Millions, LC - Rs. 30.000 Millions, Stand by Limit - Rs.20.000 Millions, Forward Contract/ Derivative - Rs.41.600 Millions, Foreign Bill Purchase (under LC) - Rs.2000.000 Millions Total - Rs. 2835.000 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Primary : First Charge by way of Hypothecation of entire current assets of the Company both present and future, Term Loan- EM on Land and Building at Beawera, Sehore, Begusarai, Khagaria and, Collateral: (i) EM on property adjoining Clock Tower Gate, Lalgarh Palace area, Bikaner, Rajasthan, in the name of Sanjay Kumar Bhura measuring 24750 sq. ft., (ii) EM on property adjoining Clock Tower Gate, Lalgarh Palace area, Bikaner, Rajasthan, in the name of Ayam Foods Pvt. Ltd. measuring 70650 sq. ft., (iii) First on fixed assets of the Co. (exclding Assam Godowns and Warehousing land & building), (iv) EM of plot of land measuring 1.5 acres at GAT No. 125/2F, village Ajiwali, Taluka Panvel, District Raigad in the name of Sanjay Kumar Bhura, (v) EM of plot of land measuring 112.40 kanals at Khasra No. 73/17/2, 18, 22, 23, 24, 25, 78/2,3,4, 5/1,5/2,6/2, 7,8,9,15, waka village Neemla, Tehsil Ellenabad in name of Comapny, (vi) Extension of Charge -EM on land & building at Biora, Sehore, Begusarai, Khagaria Term Loan- Assignment of future rent recivable of warehousing projects at Biora, Sehore, Begusarai, Khagaria, Extension of Charge on Bikaner, Raigad and Ellenabad property as given above Extension of charge on Fixed Assets and Current Assets of the Company, and Personal Guarantee of Kesari Chand Bhura, Sanjay Kumar Bhura and Sandeep Kumar Bhura Corporate Guarantee of Ayam Foods Private Limited and AAA Realtors Private Limited.

FIXED ASSETS:

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

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.54.63
UK Pound	1	Rs.83.67
Euro	1	Rs.71.02

INFORMATION DETAILS

Information Gathered by :	JML
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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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.