MIRA INFORM REPORT

Report Date :

16.11.2013

IDENTIFICATION DETAILS

Name :	SANRAA GLOBAL GREEN ENERGY LIMITED
Registered Office :	No. 9, Kanaga Sri Nagar, Cathedral Road Goplapuram, Chennai – 600086, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	22.09.2009
Com. Reg. No.:	18-074012
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U40102TN2009PLC074012
IEC No.:	0410047376
PAN No.:	AAOCS6090F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter and Suppler of Coco and Coir Products.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Even though the subject was incorporated during September 2009, it commenced its business activities from September 2011. Latest financial for the year 2013 are not available. Mr. K. Raman, Director has provided us with all the information. The company has achieved better turnover from its operations during 2012 [6 months]. It has incurred loss from its operations. As it is first year of its business operation. However, trade relations are reported as fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings on 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 – March 31^st, 2013

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

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

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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. K. Raman
Designation :	Director
Contact No.:	91-9884042196
Date :	14.11.2013

LOCATIONS

Registered Office :	No. 9, Kanaga Sri Nagar, Cathedral Road Goplapuram, Chennai – 600086, Tamilnadu, India
Tel. No.:	91-44-28116911
Mobile No.:	91-9884042196 (Mr. K. Raman)
Fax No.:	91-44-28116911
E-Mail :	raman@cocogreen.in indar@cocogreen.in
Website :	www.cocogreen.in
Location :	Rented
Factory :	No.3, Vaadikadud Road, Punalvasal Pattukottai Tk, District Thanjavur - 614803, Tamilnadu, India
Mobile No.:	91-9962519421
E-Mail :	sabapathy@cocogreen.in
Area :	294000 Sq. ft.
Location :	Owned

DIRECTORS

As on 30.09.2012

Name :	Mr. K. Raman
Designation :	Director
Address :	No. 18, Natesan Colony, Alwarpet, Chennai – 600018, Tamilnadu, India
Date of Birth/Age :	11.11.1972
Qualification :	ICWA
Date of Appointment :	05.08.2010
DIN No.:	02982911
Name :	Mr. Sukumar Subramanian
Designation :	Director
Address :	No.1, Parthasarathy Street, MC Road, Old Washermanpet, Chennai – 600021, Tamilnadu, India
Date of Birth/Age :	01.11.1974
Date of Appointment :	22.12.2009
DIN No.:	01835134
Name :	Mr. Subramanian Avudiappan
Designation :	Director
Address :	Block D, B-37 Thiruvengada Nagar, Ambattur, Chennai – 600053, Tamilnadu, India
Date of Birth/Age :	01.01.1950
Qualification :	MCA
Date of Appointment :	12.10.2011
Name :	Mr. Vijay Kumar Ramanlal Vakharia
Designation :	Director
Address :	Old No.81, New No.102, Chamiers Road, Raja Annamalai Puram, Chennai – 600028, Tamilnadu, India
Date of Birth/Age :	02.05.1960
Date of Appointment :	22.12.2009
DIN No.:	02078523
Name :	Mr. Kalatil Ullatil Sivadas
Designation :	Additional director
Address :	Old No.6 / New No.11, First Lane, Prakasa Mudali Street, Chennai – 600017, Tamilnadu, India
Date of Birth/Age :	16.02.1940
Date of Appointment :	12.12.2011
DIN No.:	00498594
Name :	Mr. Kizhikilode Ambumarar Muralidharan
Designation :	Additional Director
Address :	Anugraha No. 5, I Floor, Mariam Towers, No. 11. Kothari Road, Nungambakkam, Chennai – 600034, Tamilnadu, India
Date of Birth/Age :	01.07.1948
Date of Appointment :	10.12.2011
DIN No.:	03469080
Name :	Mr. Havenhalli Keshavamurthy Sowmya
Designation :	Additional director
Address :	New No. 33 Old No 15, Sriram Colony, Abhiramapuram Chennai – 600018, Tamilnadu, India
Date of Birth/Age :	05.08.1977
Date of Appointment :	07.08.2013
DIN No.:	06403183

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2012

Names of Shareholders	No. of Shares
Sanraa Media Limited, India Represented by Uma Karthikeyan	49500
Uma Karthikeyan	100
Sukumar Subramanian	100
T.V. Balachandran	100
J. Uma	100
R. Akila	50
R. Nithyalakshmi	50
Total	50000

As on 30.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	99.00
Directors or relatives of Directors	1.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Suppler of Coco and Coir Products.

PRODUCTION STATUS [AS ON 31.03.2012]

Particulars	Unit	Installed Capacity	Actual Production
Biomass Fuel	MTPA	30000	25000
Coco Peat	MTPA	3000	3000

GENERAL INFORMATION

No. of Employees :

50 (Approximately)

Bankers :

• Bank of Maharashtra, 116, Sri Gujarati Mandal Bhavan, Broadbay, Chennai - 600108, Tamilnadu, India
• State Bank of India, SME Branch, 65-A, GST Road, Guindy, Chennai – 600032, Tamilnadu, India
• Kotak Mahindra Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long-term borrowings
Term loans from banks	20.486	0.000
Short-term borrowings
Working capital loans from banks	6.704	0.000
Total	27.190	0.000

Banking Relations :	---
Auditors :
Name :	R. Ravindran and Associates Chartered Accountants
Address :	14, Ashtalakshmi St, Muthulakshmi Nagar, Chitlapakkam, Chennai - 600064, Tamilnadu, India
Tel. No.:	91-44-22281564
Fax No.:	91-44-22281564
E-Mail :	auditorravindran@gmail.com
PAN No.:	AAJPR6640L
Sister Concern :	Sanraa Bio Enterprises Private Limited
Holding Company :	Sanraa Media Limited

CAPITAL STRUCTURE

As on 30.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs. 10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs. 10/- each	Rs. 0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500
(b) Reserves & Surplus	(3.560)	0.000
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	18.700	7.500
Total Shareholders’ Funds (1) + (2)	15.640	8.000
(3) Non-Current Liabilities
(a) long-term borrowings	20.486	0.000
(b) Deferred tax liabilities (Net)	0.266	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	20.752	0.000
(4) Current Liabilities
(a) Short term borrowings	7.743	4.855
(b) Trade payables	1.928	3.803
(c) Other current liabilities	5.004	0.000
(d) Short-term provisions	0.774	0.552
Total Current Liabilities (4)	15.449	9.210
TOTAL	51.841	17.210
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	32.387	5.548
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	4.388
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.604	0.025
(e) Other Non-current assets	5.274	3.542
Total Non-Current Assets	38.265	13.503
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	6.783	0.154
(c) Trade receivables	4.796	0.000
(d) Cash and cash equivalents	0.061	0.014
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	1.936	3.539
Total Current Assets	13.576	3.707
TOTAL	51.841	17.210

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.500
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.500
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.205
TOTAL BORROWING		0.205
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.705
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.005
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		0.005
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.000
	Provisions	0.008
Total Current Liabilities		0.008
Net Current Assets		(0.003)
MISCELLANEOUS EXPENSES		0.708
TOTAL		0.705

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012
	SALES
		Revenue from operations	9.287
		Other Income	0.043
		TOTAL (A)	9.330
Less	EXPENSES
		Changes in inventories of finished goods, wok in progress and stock in trade	1.612
		Employee benefit Expenses	2.586
		Other Expenses	4.196
		TOTAL (B)	8.394
Less	PROFIT/ LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.936
Less	FINANCIAL EXPENSES (D)		2.433
	PROFIT/ LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(1.497)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.797
	PROFIT/ LOSS BEFORE TAX (E-F) (G)		(3.294)
Less	TAX (H)		0.266
	PROFIT/ LOSS AFTER TAX (G-H) (I)		(3.560)
	Earnings/ Loss Per Share (Rs.)		(71.20)

Particulars	31.03.2013
Sales Turnover (Approximately)	30.000

The above information has been parted by Mr. K. Raman

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(38.16)	N.A.	N.A.
Net Profit Margin (PBT/Sales)	(%)	(35.47)	N.A.	N.A.
Return on Total Assets (PBT/Total Assets}	(%)	(6.35)	N.A.	N.A.
Return on Investment (ROI) (PBT/Networth)		(0.21)	N.A.	N.A.
Debt Equity Ratio (Total Debt /Networth)		1.80	0.61	0.41
Current Ratio (Current Asset/Current Liability)		0.88	0.40	0.63

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	Yes
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 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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Note:

The registered office of the company has been shifted from No 1 Whites Road, Royapettah, Chennai – 600014, Tamilnadu, India to present address w.e.f. 25.10.2011

COMPANY OVERVIEW

Subject was incorporated in 2009, starting active business in the year 2011. The company manufactures, exports,

supplies, coco and coir products. The company’s product range from coco saw dust blocks, coir husk chips, coco peat blocks, coco small fiber blocks and coconut husk chips. The company supports greenery development and green energy. The company supports green houses and power generation by supplying and processing its agricultural wastes. The company exports the products to Middle East and south East Asian countries.

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2012	As on 31.03.2011
Short-term borrowings
Loans and advances from directors	0.137	(0.238)
Other loans and advances	0.902	5.093
Total	1.039	4.855

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10301142	16/06/2012 *	40,000,000.00	BANK OF MAHARASHTRA	BROADWAY BRANCH, 116, SRI GUJURATI MANDAL BHAWAN,  BROADWAY, CHENNAI, TAMILNADU - 600108, INDIA	B45395803

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Office equipment

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.63.06
UK Pound	1	Rs.101.15
Euro	1	Rs.84.95

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--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.