MIRA INFORM REPORT

Report Date :

17.05.2013

IDENTIFICATION DETAILS

Name :	SUMANGAL INDUSTRIES LIMITED
Registered Office :	Chatterjee International Centre, 33A, JL Nehru Road, 9^th Floor, R.M. No. A-11, Kolkata – 700071, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	02.07.2010
Com. Reg. No.:	21-150956
Capital Investment / Paid-up Capital :	Rs.2.000 Millions
CIN No.: [Company Identification No.]	U70100WB2010PLC150956
TAN No.: [Tax Deduction & Collection Account No.]	CALS26996E
PAN No.: [Permanent Account No.]	AAPCS1196R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Seller of Potatoes.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 8100
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The latest financial (2012) is not available. As per previous year’s record the performance and financial strength appeared to be moderate. However, trade relations are fair. Business is active. Payments terms are unknown. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

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

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

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION DENIED

MANAGEMENT NON CO-OPERATIVE

Contact No.:

91-33-40178900

LOCATIONS

Registered Office :	Chatterjee International Centre, 33A, JL Nehru Road, 9^th Floor, R.M. No. A-11, Kolkata – 700071, West Bengal, India
Tel. No.:	91-33-22880051/40178900/ 40704191/40704192
Fax No.:	91-33-40070898
E-Mail :	sumangal@sumangalindustries.net sumangal.industries@rediffmail.com
Website :	http://www.sumangalindustries.net
Branch Office :	Located at : Dunlop Mogra Jangipara Krishnagar Malda Siliguri Chachal Singur Durgapur Burabazar

DIRECTORS

As on : 30.09.2011

Name :

Mr. Subrata Gopal Chandra Adhikary

Designation :

Director

Address :

Bagati, Adhikary Para, PO. Mogra, District Hooghly, Kolkata-712148, West Bengal, India

Date of Birth/Age :

01.03.1972

Date of Appointment :

02.07.2010

DIN No.:

01882116

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	U31404WB2007PLC120790	ADHIKARY ELECTROCHEM INDUSTRIES LIMITED	Managing director	27-09-11	04-12-07	-	Active	NO
2	U51909WB2008PTC129135	GOPAL TRADE-LINK PRIVATE LIMITED	Director	05-09-08	05-09-08	-	Active	NO
3	U63022WB1996PTC078246	MA BHAIRABI HIMGHAR PRIVATE LIMITED	Director	24-02-10	24-02-10	-	Under Process of Striking off	NO
4	U70100WB2010PLC150956	SUMANGAL INDUSTRIES LIMITED	Director	02-07-10	02-07-10	-	Active	NO
5	U52190WB2011PTC165394	SUMANGAL COMMODITY MARKET PRIVATE LIMITED	Director	26-07-11	26-07-11	-	Active	NO
6	U74999WB2011PTC165727	SUMANGAL TOURISM PRIVATE LIMITED	Director	01-08-11	01-08-11	-	Active	NO
7	U80903WB2011PTC165726	SUMANGAL INSTITUTE BUSINESS ADMINASTRATION PRIVATE LIMITED	Director	01-08-11	01-08-11	-	Active	NO
8	U22100WB2011PTC165724	SUMANGAL EDITION PRIVATE LIMITED	Director	01-08-11	01-08-11	-	Active	NO
9	U55101WB2011PTC166042	SUMANGAL INN PRIVATE LIMITED	Director	08-08-11	08-08-11	-	Active	NO
10	U74999WB2011PTC166474	SUMANGAL EXPORT AND IMPORT PRIVATE LIMITED	Director	16-08-11	16-08-11	-	Active	NO
11	U85193WB2011PTC166464	SUMANGAL HEALTHCARE PRIVATE LIMITED	Director	16-08-11	16-08-11	-	Active	NO
12	U74999WB2011PTC166437	SUMANGAL HIMGHAR PRIVATE LIMITED	Director	16-08-11	16-08-11	-	Active	NO
13	U74999WB2011PTC167461	SUMANGAL POWER AND ENERGY PRIVATE LIMITED	Director	10-09-11	10-09-11	-	Active	NO
14	U17120WB2011PTC167498	SUMANGAL FABTEX PRIVATE LIMITED	Director	12-09-11	12-09-11	-	Active	NO
15	U63022WB2002PTC094837	PANAGARH COLD STORAGE PRIVATE LIMITED	Director	19-04-12	19-04-12	-	Active	NO
16	U32106WB1973PTC028978	GAUTAM & VIKRAM (OVERSEAS) PRIVATE LIMITED	Director	13-08-12	13-08-12	-	Active	NO
17	U55101WB2010PTC147748	CONCEPT CUISINES PRIVATE LIMITED	Director	16-10-12	16-10-12	-	Active	N

Name :

Ms. Madhumita Astick Roy Adhikary

Designation :

Director

Address :

27, Adhikary Para, Bagati, Mogra, Hooghly, Mogra-712148, West Bengal, India

Date of Birth/Age :

01.10.1976

Date of Appointment :

02.07.2010

DIN No.:

02396725

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	U63022WB1996PTC078246	MA BHAIRABI HIMGHAR PRIVATE LIMITED	Director	24-02-10	24-02-10	-	Under Process of Striking off	NO
2	U70100WB2010PLC150956	SUMANGAL INDUSTRIES LIMITED	Director	02-07-10	02-07-10	-	Active	NO
3	U51909WB2008PTC129135	GOPAL TRADE-LINK PRIVATE LIMITED	Director	18-11-10	18-11-10	-	Active	NO
4	U31404WB2007PLC120790	ADHIKARY ELECTROCHEM INDUSTRIES LIMITED	Director	27-09-11	14-01-11	-	Active	NO
5	U52190WB2011PTC165394	SUMANGAL COMMODITY MARKET PRIVATE LIMITED	Director	26-07-11	26-07-11	-	Active	NO
6	U74999WB2011PTC165727	SUMANGAL TOURISM PRIVATE LIMITED	Director	01-08-11	01-08-11	-	Active	NO
7	U80903WB2011PTC165726	SUMANGAL INSTITUTE BUSINESS ADMINASTRATION PRIVATE LIMITED	Director	01-08-11	01-08-11	-	Active	NO
8	U22100WB2011PTC165724	SUMANGAL EDITION PRIVATE LIMITED	Director	01-08-11	01-08-11	-	Active	NO
9	U55101WB2011PTC166042	SUMANGAL INN PRIVATE LIMITED	Director	08-08-11	08-08-11	-	Active	NO
10	U74999WB2011PTC166474	SUMANGAL EXPORT AND IMPORT PRIVATE LIMITED	Director	16-08-11	16-08-11	-	Active	NO
11	U85193WB2011PTC166464	SUMANGAL HEALTHCARE PRIVATE LIMITED	Director	16-08-11	16-08-11	-	Active	NO
12	U74999WB2011PTC166437	SUMANGAL HIMGHAR PRIVATE LIMITED	Director	16-08-11	16-08-11	-	Active	NO
13	U74999WB2011PTC167461	SUMANGAL POWER AND ENERGY PRIVATE LIMITED	Director	10-09-11	10-09-11	-	Active	NO
14	U17120WB2011PTC167498	SUMANGAL FABTEX PRIVATE LIMITED	Director	12-09-11	12-09-11	-	Active	NO
15	U63022WB2002PTC094837	PANAGARH COLD STORAGE PRIVATE LIMITED	Director	19-04-12	19-04-12	-	Active	NO
16	U32106WB1973PTC028978	GAUTAM AND VIKRAM (OVERSEAS) PRIVATE LIMITED	Director	13-08-12	13-08-12	-	Active	NO
17	U55101WB2010PTC147748	CONCEPT CUISINES PRIVATE LIMITED	Director	16-10-12	16-10-12	-	Active	NO

Name :

Mr. Kaushik Roy

Address :

20 Maitri park Road, Regent Park, Kolkata-700070, West Bengal, India

Designation :

Director

Date of Appointment :

04.01.2011

DIN No.:

03389754

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	U70100WB2010PLC150956	SUMANGAL INDUSTRIES LIMITED	Director	04-01-11	04-01-11	-	Active	NO
2	U31404WB2007PLC120790	ADHIKARY ELECTROCHEM INDUSTRIES LIMITED	Director	27-09-11	02-05-11	-	Active	NO

Name :

Mr. Indusekhar Chakraborty

Address :

Chanditala Bagampara, Magra, Hoogly-712198, West Bengal, India

Designation :

Director

Date of Appointment :

01.06.2011

DIN No.:

03578355

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2011

Names of Shareholders	No. of Shares
Adhikari Subrata	120000
Adhikari Somnath	1000
Adhikari Madhumita	75000
Adhikari Chandra Gopal	1000
Adhikari Sarbani	1000
Roy Kumar Astick	1000
Adhikari Debika	1000
Total	200000

Equity Share Break up (Percentage of Total Equity)

As on : 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Seller of Potatoes.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

United Bank of India, Chowringhee Branch, 50, Jawahar Lal Nehru Road, Kolkata-700071, West Bengal, India

Account No: 048905009287

Facilities :

(Rs in Millions)

SECURED LOAN	As on 31.03.2011
12.5% Debentures	2.691
Total	2.691

Auditors :
Name :	Dutta Sarkar and Company Chartered Accountants
Address :	7A, Kiron Sankar Roy Road, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22481760/ 22131333
Fax No.:	91-33-2210385
E-Mail :	info@duttasarkar.com dusac.2009@rediffmail.com
Website :	www.duttasarkar.com
PAN No.:	ALSPP6638R
Associates :	Adhikary Electrochem Industries Limited
Name of the companies/firm in which Directors/ Key Management Personnel are interested :	Adhikary Electro Chemicals

CAPITAL STRUCTURE

As on : 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs. 10/- each	Rs. 5.000 Millions
500000	Preference Shares	Rs. 10/- each	Rs. 5.000 Millions
	Total		Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		2.000
2] Share Application Money		0.000
3] Reserves & Surplus		0.027
4] (Accumulated Losses)		0.000
NETWORTH		2.027
LOAN FUNDS
1] Secured Loans		2.691
2] Unsecured Loans		0.365
TOTAL BORROWING		3.056
DEFERRED TAX LIABILITIES		0.000
TOTAL		5.083
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.852
Capital work-in-progress		0.000
INVESTMENT		3.110
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.248
	Sundry Debtors	2.566
	Cash & Bank Balances	1.290
	Other Current Assets	0.000
	Loans & Advances	4.687
Total Current Assets		14.791
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	14.616
	Provisions	0.054
Total Current Liabilities		14.670
Net Current Assets		0.121
MISCELLANEOUS EXPENSES		0.000
TOTAL		5.083

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	27.566
		Other Income	0.076
		TOTAL	27.642
Less	EXPENSES
		(Increase) in Stocks	(6.248)
		Purchases of Trading Goods	26.528
		Expenses	7.180
		TOTAL	27.460
	PROFIT BEFORE TAX		0.182
Less	TAX		0.055
	PROFIT AFTER TAX		0.127
Less	APPROPRIATIONS
		Proposed Dividend	0.100
	BALANCE CARRIED TO THE B/S		0.027
	Earnings Per Share (Rs.)		0.64

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	0.46
Net Profit Margin (PBT/Sales)	(%)	0.66
Return on Total Assets (PBT/Total Assets}	(%)	1.09
Return on Investment (ROI) (PBT/Networth)		0.09
Debt Equity Ratio (Total Debt/Networth)		8.74
Current Ratio (Current Asset/Current Liability)		1.00

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 one year	Yes
12]	Profitability for last one year	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

CHARGES :

ENTITY	PERSON	COMPETENT AUTHORITY	REGULATORY CHARGES	REGULATORY ACTION(S)/DATE OF ORDER	FURTHER DEVELOPMENTS
Sumangal Industries Limited	--	SEBI	Running CIS scheme without obtaining certificate of registration from SEBI	1. Directed not to collect any money from the investors 2. Directed not to dispose off any of the properties or alienate assets of the scheme 3. Directed not to divert any funds raised from publicat large kept in Bank account and/or in the custody of the company 10.04.2013	--

NOTE :

The registered office of the company has been shifted from 156/96/1, B.T. Road, Kolkata-700108, West Bengal, India to the present address w.e.f 04.12.2012

UNSECURED LOAN :

(Rs. in Millions)

PARTICULARS	31.03.2011
Loans unsecured	0.365
Total	0.365

FIXED ASSETS

• Computer and Accessories
• Office Equipment
• Furniture and Fixtures
• Computer Software

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. 54.77
UK Pound	1	Rs. 83.31
Euro	1	Rs. 70.46

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.