MIRA INFORM REPORT

Report Date :

25.05.2013

IDENTIFICATION DETAILS

Name :	FAR N PAR (INDIA) PRIVATE LIMITED
Registered Office :	402, Topaz, 4th Floot, Amrutha Hills, Punjagutta, Hyderabad – 500082, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	14.12.1987
Com. Reg. No.:	01-028854
Capital Investment / Paid-up Capital :	Rs.13.000 Millions
CIN No.: [Company Identification No.]	U63011AP1987PTC028854
TAN No.: [Tax Deduction & Collection Account No.]	HYDF00251G
PAN No.: [Permanent Account No.]	AAACF3110B
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Freight Forwarding and Customs house clearing services.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 210000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears drastic dip in the profit during 2012. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

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

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

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

LOCATIONS

Registered Office :	402, Topaz, 4th Floot, Amrutha Hills, Punjagutta, Hyderabad – 500082, Andhra Pradesh, India
Tel. No.:	91-40-44666767
Fax No.:	91-40-23412520
E-Mail :	bviswanath.ca@gmail.com info@farnpar.com
Website :	http://www.farnpar.com
Branch Office :	Located at: Bangalore Hyderabad Chennai Mumbai Vishakapatnam

DIRECTORS

As on: 29.09.2012

Name :	Mr. Devabhaktuni Amarnath
Designation :	Managing director
Address :	607, Emrald, Amrutha Hills, Punjagutta, Hyderabad - 500082, Andhra Pradesh, India
Date of Appointment :	15.09.1989
DIN No.:	01856229
Name :	Mr. Dharma Teja Devabhaktuni
Designation :	Director
Address :	701, Emrald, Amrutha Hills, Punjagutta, Hyderabad - 500082, Andhra Pradesh, India
Date of Appointment :	15.11.2001
DIN No.:	01913176

MAJOR SHAREHOLDERS

As on: 29.09.2012

Names of Shareholders	No. of Shares
D. Amarnath	3500
N. Sirusha	2500
D. TFJA	1500
D. Manasa	1000
N. Sakuntala	1000
JPV Prasad	350
K Prasajda Rao	350
Suryanarayana	200
B Prabhakar	200
D. Narmada	200
R Reddy	200
Ravi Kumar	200
Laxshmi	200
MP Chaitanya	500
Nagesh	150
Babita Rani	50
M Jitendra	150
C. Naren Dayal	250
Y. Shiva Kumar	200
M. Naini	300
Total	13000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Freight Forwarding and Customs house clearing services.

GENERAL INFORMATION

Customers :

• Granules India Limited
• Matrix Laboratiries Limited
• Gland Pharma Limited
• Suven Life Science
• Neuland Laboratories Limited
• SMS Pharma
• Rasula Pharmaceuticals Limited
• Kreative organics Limited
• Fleming Laboratories Limited
• Virchow Laboratories Limited
• Smilex Laboratories Limited
• Champion Manufacturing Company
• Satya Deeptha Pharmaceuticals Limited
• Aptuit Laurus Pharmaceuticals
• Sai Advantium Limited
• Adarsh Chemicals Private Limited
• Satya Deva Pharmaceuticals Private Limited
• Synthokem Laboratories Limited
• Gennex Laboratories Limited
• Everest organics Limited
• HBL Power Systems Private Limited
• Unicorn Agrotech Limited
• PE Engineers Private Limited
• Galt Pharma Private Limited
• KCP Biotech Limited
• Vijayneha Polymers Private Limited
• Veljan Hydraulics
• Salicylates and Chemicals Private Limited
• Veer chemie and Aeromatics Private Limited

No. of Employees :

Not Available

Bankers :

• State Bank of India, SIB Saifabad Branch, Haca Bhavan, Saifabad, Hyderabad – 500004, Andhra Pradesh, India

• Kotak Mahindra Bank
• HDFC Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
SHORT TERM BORROWINGS
Cash Credit Limits (Secured by hypothecation of Book Debts and Personal guarantee of directors)	42.794	20.290
Total	42.794	20.290

Banking Relations :	--
Auditors :
Name :	Tukaram and Company Chartered Accountants
Address :	3-6-69, Flat No 209, Venkatarama Towers, Basheerbagh, Hyderabad – 500029, Andhra Pradesh, India
Tel. No.:	91-40-23221536/ 8785/ 8088
Fax No.:	91-40-23221474
PAN No.:	AAAFT9960E

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
13000	Equity Shares	Rs.1000/- each	Rs.13.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13000	Equity Shares	Rs.1000/- each	Rs.13.000 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		13.000	13.000	10.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		41.979	39.079	30.945
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		54.979	52.079	40.945
LOAN FUNDS
1] Secured Loans		42.794	20.290	16.582
2] Unsecured Loans		6.662	7.404	15.658
TOTAL BORROWING		49.456	27.694	32.240
DEFERRED TAX LIABILITIES		2.907	0.000	0.000
TOTAL		107.342	79.773	73.185
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		15.221	16.680	10.634
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.962	1.962	1.961
DEFERREX TAX ASSETS		0.000	0.277	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	174.182	137.845	115.437
	Cash & Bank Balances	1.565	2.147	0.946
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	39.834	42.829	31.599
Total Current Assets		215.581	182.821	147.982
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	109.640	89.677	75.560
	Other Current Liabilities	2.379	12.292	7.970
	Provisions	13.403	19.998	3.862
Total Current Liabilities		125.422	121.967	87.392
Net Current Assets		90.159	60.854	60.590
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		107.342	79.773	73.185

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	965.209	703.090	NA
		Other Income	24.547	21.690
		TOTAL (A)	989.756	724.780	NA
Less	EXPENSES
		Clearing and forwarding expense	178.226	150.666	NA
		Customs Duty	86.298	40.837
		Freight charges	572.134	412.303
		Documentation Charges	3.154	2.113
		Handling charges	3.532	3.350
		Transport charges	87.670	53.392
		Employee Benefit Expense	19.897	17.251
		Other Expenses	21.368	23.158
		Prior Period Adjustments	0.267	0.000
		TOTAL (B)	972.546	703.070	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		17.210	21.710	NA
Less	FINANCIAL EXPENSES (D)		4.392	2.289	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		12.818	19.421	13.199
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.786	2.428	1.750
	PROFIT BEFORE TAX (E-F) (G)		10.032	16.993	11.449
Less	TAX (H)		7.132	6.260	3.981
	PROFIT AFTER TAX (G-H) (I)		2.900	10.733	7.468
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	30.945	23.476
	BALANCE CARRIED TO THE B/S		NA	NA	30.945
	EARNINGS IN FOREIGN CURRENCY		6.527	0.278	0.000
	Earnings Per Share (Rs.)		0.24	0.97	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.29	1.48	NA
Net Profit Margin (PBT/Sales)	(%)	1.04	2.42	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.35	8.52	7.22
Return on Investment (ROI) (PBT/Networth)		0.18	0.33	0.28
Debt Equity Ratio (Total Debt /Networth)		0.90	0.53	0.79
Current Ratio (Current Asset/Current Liability)		1.72	1.50	1.69

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 two years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	Yes
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	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	No
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOAN:

(Rs in Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWINGS
Benz Loan from Kotak Mahindra Bank	0.764	2.387
Xenon Loan from HDFC	0.090	0.332
Corporate Loan from HDFC	2.051	0.000
Others	0.497	0.018
Loan from Directors ,Share holders and Sister Concerns	3.260	4.667
Total	6.662	7.404

BANKERS CHARGES REPORT AS PER REGISTRY:

Corporate identity number of the company	U63011AP1987PTC028854
Name of the company	FAR N PAR (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	402, Topaz, 4th Floor, Amrutha Hills, Punjagutta, Hyderabad – 500082, Andhra Pradesh, India bviswanath.ca@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90259705
Type of charge	Book debts
Particular of charge holder	State Bank of India, SIB Saifabad Branch, Haca Bhavan, Saifabad, Hyderabad – 500004, Andhra Pradesh, India sbi.07315@sbi.co.in
Nature of instrument creating charge	1. Letter of arrangement ( SME-1) 2. Supplemental Agreement of Loan-Cum-Hypothecation Agreement (SME-4)
Date of instrument Creating the charge	21.01.2012
Amount secured by the charge	Rs.40.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Working Capital. Interest at 6.00% above Base Rate ( BR) ( BR =10.00%W.E.F 13.08.2011 Terms of Repayment Cash Credit. Repayable on Demand Margin Receivables - 40% Cover Period for Receivables- 90 Days Extent and Operation of the charge The Charge Operate as a First Security for all the Properties Mortgaged. Others Personal Guarantees of Sri D. Amarnath, D. Dharma Teja, Smt N. Sirusha
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Primary Security. Hypothecation of stocks, Book Debts and all other chargeable Current Assets of the Company
Date of instrument modifying the charge	11.06.2011
Particulars of the present modification	The Total Limits has Enhanced to Rs 40.000 Millions

FIXED ASSETS:

• Land
• Furniture
• Computer
• Office Equipment
• 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.55.61
UK Pound	1	Rs.83.98
Euro	1	Rs.71.94

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	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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.