MIRA INFORM REPORT

Report Date :

27.11.2013

IDENTIFICATION DETAILS

Name :	STAR AGRIWAREHOUSING AND COLLATERAL MANAGEMENT LIMITED (w.e.f. 06.09.2007)
Formerly Known As :	STAR AGRITRADING WAREHOUSING AND COLLATERAL MANAGEMENT LIMITED (w.e.f. 19.03.2007) STAR AGRITRADING WAREHOUSING AND COLLATERAL MANAGEMENT PRIVATE LIMITED
Registered Office :	G-102, Molshree Residency, Plot No. 29, Mission Compound, Ajmer Road, Jaipur – 302016, Rajasthan
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	18.04.2006
Com. Reg. No.:	17-022427
Capital Investment / Paid-up Capital :	Rs.140.000 Millions
CIN No.: [Company Identification No.]	U51219RJ2006PLC022427
PAN No.: [Permanent Account No.]	AALCS0367G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing the integrated post-harvest management solutions including warehousing, procurement and collateral management of agricommodities. The Company also provides a wide array of value – added services covering transport and handling, insurance, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 5370000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Management of the company has not filed its latest financial for the year 2013 with the government department as per previous year financial (i.e. 2012), the company seems good for business dealings. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered normal 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 – 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.

LOCATIONS

Registered Office :	G-102, Molshree Residency, Plot No. 29, Mission Compound, Ajmer Road, Jaipur – 302016, Rajasthan, India
Tel. No.:	91-141-2371079
Fax No.:	Not Available
E-Mail :	shreehari@staragri.com ritu.koolwal@staragri.com

DIRECTORS

As on: 29.09.2012

Name :

Mr. Amit Kumar Purshottam Das Goyal

Designation :

Director

Address :

Nohra No. 65, Purani Dhan Mandi, Sriganganagar – 335001, Rajasthan, India

Date of Birth/Age :

09.03.1977

Date of Appointment :

09.02.2011

PAN No.:

ABHPG9992K

DIN No.:

00474023

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	U51219RJ2006PLC022427	STAR AGRIWAREHOUSING AND COLLATERAL MANAGEMENT LIMITED	Director	20/02/2011	18/04/2006	-	Active	NO
2	U40109RJ2007PTC025276	STAR BIOMASS POWER PRIVATE LIMITED	Director	06/11/2007	06/11/2007	19/01/2012	Active	YES
3	U01122RJ2007PTC025319	MUNDAWALA AGRI TRADE PRIVATE LIMITED	Whole-time director	01/12/2007	15/11/2007	14/09/2011	Active	NO
4	U01122RJ2008PTC026069	FARMER HARVEST (INDIA) PRIVATE LIMITED	Director	05/03/2008	05/03/2008	28/02/2011	Active	NO
5	U63022RJ2008PTC026449	BIKANER AGRIMARKETING PRIVATE LIMITED	Director	02/05/2008	02/05/2008	-	Active	NO
6	U01122RJ2008PTC026587	BUNDI AGRIMARKETING YARD PRIVATE LIMITED	Director	26/05/2008	26/05/2008	-	Active	NO
7	U63020MH2011PTC247670	STAR AGRILOGISTICS PRIVATE LIMITED	Director	11/05/2011	11/05/2011	-	Active	NO
8	U01122RJ2012PTC038139	FARMERSFORTUNE (INDIA) PRIVATE LIMITED	Director	06/03/2012	06/03/2012	-	Active	NO
9	U45201MH2012PTC247671	STAR AGRIINFRASTRUCTURE PRIVATE LIMITED	Director	05/12/2012	05/12/2012	-	Active	NO
10	U45200MP2013PTC030735	BLUE HEIGHT DEVELOPERS PRIVATE LIMITED	Director	16/05/2013	16/05/2013	-	Active	NO

Name :

Mr. Amith Srikrishna Agarwal

Designation :

Director

Address :

H.No.77, Keshav Nagar, Scheme No. 13, Alwar – 301001, Rajasthan, India

Date of Birth/Age :

12.07.1980

Qualification :

ADPPA5335E

Date of Appointment :

14.01.2007

DIN No.:

01140768

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	U01119RJ2006PLC022254	LEELAKA GRAINS LIMITED	Director	21/03/2006	21/03/2006	09/10/2010	Active	NO
2	U51219RJ2006PLC022427	STAR AGRIWAREHOUSING AND COLLATERAL MANAGEMENT LIMITED	Director	14/01/2007	14/01/2007	-	Active	NO
3	U01122RJ2008PTC026069	FARMER HARVEST (INDIA) PRIVATE LIMITED	Director	05/03/2008	05/03/2008	28/02/2011	Active	NO
4	U63022RJ2008PTC026449	BIKANER AGRIMARKETING PRIVATE LIMITED	Director	28/04/2008	28/04/2008	-	Active	NO
5	U01122RJ2008PTC026587	BUNDI AGRIMARKETING YARD PRIVATE LIMITED	Director	21/05/2008	21/05/2008	-	Active	NO
6	U63020MH2011PTC247670	STAR AGRILOGISTICS PRIVATE LIMITED	Director	11/05/2011	11/05/2011	-	Active	NO
7	U01122RJ2012PTC038139	FARMERSFORTUNE (INDIA) PRIVATE LIMITED	Director	06/03/2012	06/03/2012	-	Active	NO
8	U45201MH2012PTC247671	STAR AGRIINFRASTRUCTURE PRIVATE LIMITED	Director	05/12/2012	05/12/2012	-	Active	NO
9	U45200MP2013PTC030735	BLUE HEIGHT DEVELOPERS PRIVATE LIMITED	Director	16/05/2013	16/05/2013	-	Active	NO

Name :

Mr. Suresh Chandra Shyam Lal Goyal

Designation :

Managing Director

Address :

Sanghi Bhawan Compound, P.No. 10, Paota B/2 Road, Jodhpur – 342003, Rajasthan, India

Date of Birth/Age :

01.03.1952

Date of Appointment :

09.02.2011

PAN No.:

ABEPG7762N

DIN No.:

02018073

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	U15400GJ1999PTC035468	VIDHYA VINOD MERCANTILE PRIVATE LIMITED	Director	22/02/1999	22/02/1999	-	Active	NO
2	U51219RJ2006PLC022427	STAR AGRIWAREHOUSING AND COLLATERAL MANAGEMENT LIMITED	Managing director	09/02/2011	14/01/2007	-	Active	NO
3	U01122RJ2008PTC026069	FARMER HARVEST (INDIA) PRIVATE LIMITED	Director	05/03/2008	05/03/2008	15/12/2010	Active	NO
4	U63020MH2011PTC247670	STAR AGRILOGISTICS PRIVATE LIMITED	Director	11/05/2011	11/05/2011	-	Active	NO
5	U45203GJ2011PTC067841	GOVIND INFRADEVELOPERS COMPANY PRIVATE LIMITED	Director	16/11/2011	16/11/2011	-	Active	NO
6	U01122RJ2012PTC038139	FARMERSFORTUNE (INDIA) PRIVATE LIMITED	Director	06/03/2012	06/03/2012	-	Active	NO
7	U45201MH2012PTC247671	STAR AGRIINFRASTRUCTURE PRIVATE LIMITED	Director	05/12/2012	05/12/2012	-	Active	NO

Name :

Mr. Amit Khandelwal

Designation :

Director

Address :

D-28, New Colony, Gumanpura, Kota – 324005, Rajasthan, India

Date of Birth/Age :

08.04.1978

Date of Appointment :

14.01.2007

PAN No.:

AKAPK6514B

DIN No.:

00809249

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	U01122RJ2006PTC023218	SUN PRIME AGRI SOLUTIONS PRIVATE LIMITED	Director	12/10/2006	12/10/2006	18/08/2009	Active	NO
2	U51219RJ2006PLC022427	STAR AGRIWAREHOUSING AND COLLATERAL MANAGEMENT LIMITED	Director	14/01/2007	14/01/2007	-	Active	NO
3	U01122RJ2008PTC026069	FARMER HARVEST (INDIA) PRIVATE LIMITED	Director	05/03/2008	05/03/2008	15/12/2010	Active	NO
4	U63022RJ2008PTC026449	BIKANER AGRIMARKETING PRIVATE LIMITED	Director	28/04/2008	28/04/2008	-	Active	NO
5	U01122RJ2008PTC026587	BUNDI AGRIMARKETING YARD PRIVATE LIMITED	Director	21/05/2008	21/05/2008	-	Active	NO
6	U63020MH2011PTC247670	STAR AGRILOGISTICS PRIVATE LIMITED	Director	11/05/2011	11/05/2011	-	Active	NO
7	U01122RJ2012PTC038139	FARMERSFORTUNE (INDIA) PRIVATE LIMITED	Director	06/03/2012	06/03/2012	-	Active	NO
8	U15511RJ1990PLC005276	BHARAT JYOTI DAIRY PRODUCTS LIMITED	Director	11/06/2012	11/06/2012	-	Active	NO
9	U45201MH2012PTC247671	STAR AGRIINFRASTRUCTURE PRIVATE LIMITED	Director	05/12/2012	05/12/2012	-	Active	NO

Name :

Mr. Girish Dinanath Nadkarni

Designation :

Nominee Director

Address :

B/5, Shree Saikrupa Co-Operative Hosing Society Limited, Natvar Nagar Road, Jogeshwari, Mumbai – 400060, Maharashtra, India

Date of Birth/Age :

21.10.1968

Date of Appointment :

23.02.2012

DIN No.:

00112657

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	U74999MH1993PLC072118	ORIENTAL SERITECH LIMITED	Director	26/03/2003	26/03/2003	10/08/2009	Active	NO
2	U84200MH1992PLC066138	ITEL INDUSTRIES LIMITED	Director	01/07/2004	01/07/2004	28/08/2008	Active	NO
3	U28910TN1997PLC047905	SUNGWOO GESTAMP HITECH (CHENNAI) LIMITED	Director	11/08/2004	11/08/2004	26/03/2008	Active	NO
4	U34300PN2004PTC019215	FAURECIA INTERIOR SYSTEMS INDIA PRIVATE LIMITED	Director	15/01/2007	15/01/2007	05/12/2007	Active	NO
5	U74990MH2009PLC193869	RALLIS CHEMISTRY EXPORTS LIMITED	Director	30/08/2010	02/08/2010	18/08/2011	Active	NO
6	U73100KA2000PLC028246	METAHELIX LIFE SCIENCES LIMITED	Additional director	30/12/2010	30/12/2010	18/07/2011	Active	NO
7	U05121KA2002PLC031204	DHAANYA SEEDS LIMITED	Additional director	30/12/2010	30/12/2010	18/07/2011	Active	NO
8	U40108DL2011PLC221862	GREEN INFRA WIND POWER PROJECTS LIMITED	Director	25/09/2012	29/11/2011	27/09/2012	Active	NO
9	U40106DL2011PLC222911	GREEN INFRA WIND POWER VENTURES LIMITED	Director	25/09/2012	29/11/2011	-	Active	NO
10	U40108DL2011PLC221871	GREEN INFRA WIND POWER GENERATION LIMITED	Director	25/09/2012	29/11/2011	-	Active	NO
11	U40108DL2011PLC221875	GREEN INFRA WIND ENERGY PROJECT LIMITED	Director	14/09/2012	29/11/2011	-	Active	NO
12	U40300DL2011PLC221876	GREEN INFRA WIND GENERATION LIMITED	Director	25/09/2012	29/11/2011	-	Active	NO
13	U40108DL2011PLC221863	GREEN INFRA WIND POWER DEVELOPMENT LIMITED	Director	14/09/2012	29/11/2011	-	Active	NO
14	U40101HP2011PLC031699	GREEN INFRA HYDRO ENERGY PROJECTS LIMITED	Director	21/09/2012	29/11/2011	-	Active	NO
15	U40108DL2011PLC224946	GREEN INFRA SOLAR PROJECTS LIMITED	Director	14/09/2012	30/11/2011	-	Active	NO
16	U40102DL2011PLC225066	GREEN INFRA WIND FARM ASSETS LIMITED	Director	14/09/2012	30/11/2011	-	Active	NO
17	U40106DL2011PLC224943	GREEN INFRA CORPORATE SOLAR LIMITED	Director	14/09/2012	30/11/2011	-	Active	NO
18	U40101DL2011PLC225067	GREEN INFRA WIND ENERGY ASSETS LIMITED	Director	14/09/2012	30/11/2011	-	Active	NO
19	U51219RJ2006PLC022427	STAR AGRIWAREHOUSING AND COLLATERAL MANAGEMENT LIMITED	Nominee director	23/02/2012	23/02/2012	-	Active	NO
20	U40106DL2012PLC239191	GREEN INFRA CLEAN WIND ENERGY LIMITED	Director	09/09/2013	24/07/2012	-	Active	NO
21	U40300DL2012PLC239183	GREEN INFRA WIND ENERGY EFFICIENCY LIMITED	Director	09/09/2013	24/07/2012	-	Active	NO
22	U40106DL2012PLC239174	GREEN INFRA WIND ENERGY CREATION LIMITED	Director	09/09/2013	24/07/2012	-	Active	NO
23	U01211PN2003PTC018624	BHAGYALAXMI DAIRY FARMS PRIVATE LIMITED	Nominee director	17/09/2012	17/09/2012	-	Active	NO
24	U15204MH1992PTC070209	PARAG MILK FOODS PRIVATE LIMITED	Nominee director	17/09/2012	17/09/2012	-	Active	NO
25	U01122RJ2008PTC026587	BUNDI AGRIMARKETING YARD PRIVATE LIMITED	Nominee director	18/10/2012	18/10/2012	-	Active	NO
26	U01122RJ2012PTC038139	FARMERSFORTUNE (INDIA) PRIVATE LIMITED	Nominee director	18/10/2012	18/10/2012	-	Active	NO
27	U45203DL2008PLC213296	GREEN INFRA WIND ASSETS LIMITED	Director	23/09/2013	15/01/2013	-	Active	NO
28	U60222DL1986PLC026342	DARCL LOGISTICS LIMITED	Nominee director	20/05/2013	20/05/2013	-	Active	NO
29	U74210DL2008PLC179457	TRANSRAIL LOGISTICS LIMITED	Nominee director	06/08/2013	06/08/2013	-	Active	NO

Name :

Mr. Yoginder Kumar Bhagat Alagh

Designation :

Nominee Director

Address :

45, Surdhara, Near Door Darshan, Thalteg, Ahmedabad – 380054, Gujarat, India

Date of Birth/Age :

14.02.1939

Date of Appointment :

22.04.2012

DIN No.:

00244686

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	L26943RJ1979PLC001935	SHREE CEMENT LIMITED	Director	29/10/2004	29/10/2004	-	Active	NO
2	L24239MH1939PLC002893	TATA CHEMICALS LIMITED	Director	27/07/2007	25/09/2006	-	Active	NO
3	L40200DL1968PLC005169	SOMANY CERAMICS LIMITED	Director	16/08/2010	30/10/2009	-	Active	NO
4	L36992MH1948PLC014083	RALLIS INDIA LIMITED	Director	15/06/2010	22/04/2010	-	Active	NO
5	U51219RJ2006PLC022427	STAR AGRIWAREHOUSING AND COLLATERAL MANAGEMENT LIMITED	Nominee director	22/04/2012	22/04/2012	-	Active	NO
6	U74940HR2013PTC049186	ADJB PRODUCTION PRIVATE LIMITED	Director	18/05/2013	18/05/2013	-	Active	NO

Name :

Mr. Yashwant Shankarrao Thorat

Designation :

Additional Director

Address :

Indu Niketan , General Thorat Road, Tarabai Park, Kolhapur – 416003, Maharashtra, India

Date of Birth/Age :

11.11.1947

Date of Appointment :

04.02.2013

DIN No.:

02652734

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	L65190MH2004GOI148838	IDBI Bank Limited	Director	15/07/2009	15/07/2009	14/01/2010	Active	NO
2	U70102PN2008PLC131478	KHED DEVELOPERS LIMITED	Director	05/07/2010	30/12/2009	-	Active	NO
3	L24239MH1939PLC002893	TATA CHEMICALS LIMITED	Director	09/08/2010	08/01/2010	-	Active	NO
4	U45201MH1995PLC226932	SAHAYOG MICROFINANCE LIMITED	Director	15/02/2010	15/02/2010	-	Active	NO
5	U93000MH2010PTC199627	ENAM INFRASTRUCTURE TRUSTEESHIP SERVICES PRIVATE LIMITED	Director	07/09/2010	07/09/2010	19/07/2011	Active	NO
6	U45205PN2002PTC017289	DM CORPORATION PRIVATE LIMITED	Director	23/09/2010	23/09/2010	06/07/2013	Active	NO
7	L34300MH1977PLC019823	MENON PISTONS LIMITED	Director	25/08/2011	29/01/2011	18/05/2013	Active	NO
8	L29130PN1991PLC062352	MENON BEARINGS LIMITED	Director	30/08/2011	30/01/2011	19/05/2013	Active	NO
9	U65100MH2010PLC199319	IDBI ASSET MANAGEMENT LIMITED	Director	15/07/2011	29/04/2011	-	Active	NO
10	L36992MH1948PLC014083	RALLIS INDIA LIMITED	Director	27/06/2012	01/07/2011	-	Active	NO
11	U65999MP2009NPL022832	SAHAYOG MICROMANAGEMENT	Director	21/09/2011	21/09/2011	-	Active	NO
12	U51219RJ2006PLC022427	STAR AGRIWAREHOUSING AND COLLATERAL MANAGEMENT LIMITED	Additional director	04/02/2012	04/02/2012	-	Active	NO
13	U51900MH1999PTC121703	AMBIT HOLDINGS PRIVATE LIMITED	Director	23/08/2012	20/02/2012	-	Active	NO
14	U51909MH2003PLC140116	NATIONAL COMMODITY AND DERIVATIVES EXCHANGE LIMITED	Nominee director	04/06/2012	04/06/2012	-	Active	NO
15	U01119AP2003PTC041810	SUPER AGRISEEDS PRIVATE LIMITED	Director	12/09/2012	18/08/2012	10/03/2013	Active	NO
16	L18101KA2004PLC033475	GOKALDAS EXPORTS LIMITED	Director	23/09/2013	21/12/2012	-	Active	NO
17	U15209MP2009PTC022749	SAHAYOG CLEAN MILK PRIVATE LIMITED	Director	26/09/2013	19/06/2013	10/10/2013	Active	NO
18	U24232MP2005PTC017873	LIFESPAN BIOTECH PRIVATE LIMITED	Director	28/09/2013	28/06/2013	10/10/2013	Active	NO
19	U74140MP2010PTC023009	SAHAYOG FINXCESS CONSULTANCY SERVICES PRIVATE LIMITED	Director	26/09/2013	28/06/2013	05/10/2013	Active	NO
20	U74899DL2001NPL109771	INDIAN SOCIETY OF AGRIBUSINESS PROFESSIONALS	Additional director	10/08/2013	10/08/2013	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Ritu koolwal
Designation :	Secretary
Address :	D-173, Bhrigu Marg, Banipark, Jaipur – 302016, Rajasthan, India
Date of Birth/Age :	30.04.1987
Date of Appointment :	28.09.2012
PAN No.:	COEPS8782R

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

SHAREHOLDING DETAILS FILE ATTACHED

As on: 18.10.2013

Names of Shareholders	No. of Shares
IDFC Private Equity Fund III, India	1750000
Total	1750000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Public financial companies	29.00
Directors or relatives of directors	46.00
Other top fifty shareholders	25.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing the integrated post-harvest management solutions including warehousing, procurement and collateral management of agricommodities. The Company also provides a wide array of value – added services covering transport and handling, insurance, etc.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Indusind Bank Limited, Sangam Complex, Ground Floor, Church Road., Jaipur - 302001, Rajasthan, India

· Union Bank Of India, Bandra Hill Road Branch, 28-A, Gulsherabad Bldg. Ramdas Nayak Road, Bandra (West), Mumbai - 400050, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
LONG-TERM BORROWINGS
Loans taken for vehicles	0.645	1.209
Total	0.645	1.209

Banking Relations :	--
Auditors :
Name :	B S R and Company Chartered Accountants
Address :	5th Floor, Lodha Exceus, Apollo Mills Compound, Nm Joshi Marg, Mahalaxmi , Mumbai – 400011, Maharashtra, India
PAN No.:	AAIFB7357B
Subsidiary Company :	· Bundi Agrimarketing Yard Private Limited CIN No.: U01122RJ2008PTC026587 · Bikaner Agrimarketing Private Limited CIN No.: U63022RJ2008PTC026449
Related Parties :	· Shi Krishna Motor Company · Pramod Agarwal and Company · Mundawala Trading Company · Mundawala Industry · Mundawala Enterprises · Mundawala Agritrade Private Limited · Farmer Harvest Private Limited · Amit Industries · Amit Gaurav and Company

CAPITAL STRUCTURE

After: 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs.10/- each	Rs.300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15750000	Equity Shares	Rs.10/- each	Rs.157.500 Millions

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs.10/- each	Rs.300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14000000	Equity Shares	Rs.10/- each	Rs.140.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	140.000	100.000
(b) Reserves & Surplus	1203.598	145.858
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1343.598	245.858
(3) Non-Current Liabilities
(a) long-term borrowings	0.645	1.209
(b) Deferred tax liabilities (Net)	0.591	0.093
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	3.249	0.827
Total Non-current Liabilities (3)	4.485	2.129
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	15.217	8.741
(c) Other current liabilities	68.987	26.436
(d) Short-term provisions	0.270	0.433
Total Current Liabilities (4)	84.474	35.610
TOTAL	1432.557	283.597
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	62.324	25.104
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	15.803	0.138
(iv) Intangible assets under development	3.524	0.427
(b) Non-current Investments	1.001	0.760
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	51.172	26.905
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	133.824	53.334
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	163.125	85.344
(d) Cash and cash equivalents	1034.123	87.760
(e) Short-term loans and advances	89.949	55.928
(f) Other current assets	11.536	1.231
Total Current Assets	1298.733	230.263
TOTAL	1432.557	283.597

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		50.000
2] Share Application Money		0.000
3] Reserves & Surplus		56.176
4] (Accumulated Losses)		0.000
NETWORTH		106.176
LOAN FUNDS
1] Secured Loans		1.204
2] Unsecured Loans		20.887
TOTAL BORROWING		22.091
DEFERRED TAX LIABILITIES		(0.354)
TOTAL		127.913
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		23.020
Capital work-in-progress		3.200
INVESTMENT		0.760
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	76.518
	Cash & Bank Balances	13.591
	Other Current Assets	0.000
	Loans & Advances	31.647
Total Current Assets		121.756
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.398
	Other Current Liabilities	8.967
	Provisions	0.458
Total Current Liabilities		20.823
Net Current Assets		100.933
MISCELLANEOUS EXPENSES		0.000
TOTAL		127.913

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	474.649	296.568	171.766
		Other Income	20.585	3.714	0.564
		TOTAL (A)	495.234	300.282	172.330
Less	EXPENSES
		Employee benefit expense	66.277	41.770
		Other expenses	279.844	148.488
		TOTAL (B)	346.121	190.258	123.138
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		149.113	110.024	49.192
Less	FINANCIAL EXPENSES (D)		0.150	0.845	0.796
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		148.963	109.179	48.396
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.190	2.228	2.545
	PROFIT BEFORE TAX (E-F) (G)		145.773	106.951	45.851
Less	TAX (H)		21.493	17.269	6.341
	PROFIT AFTER TAX (G-H) (I)		124.280	89.682	39.510
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		89.682	56.176	16.666
	BALANCE CARRIED TO THE B/S		1203.598	145.858	56.176
	Earnings Per Share (Rs.)		11.93	17.41	7.90

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	25.10	29.87	22.93
Net Profit Margin (PBT/Sales)	(%)	30.71	36.06	26.69
Return on Total Assets (PBT/Total Assets}	(%)	10.32	37.89	31.67
Return on Investment (ROI) (PBT/Networth)		0.11	0.44	0.43
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.21
Current Ratio (Current Asset/Current Liability)		15.37	6.47	5.85

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	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	No

FUTURE OUTLOOK

The 12th five-year plan (a plan which covers years 2012 to 2017), with focus on ‘Inclusive Growth’ and targeting 4% growth in agriculture sector is making headway. Government is aggressively progressing on FDI in Retail and Food Security Bill which will benefit farmers and further enhance demand of post harvesting infrastructure and storage facility in the country. Over the next 2 years, Star Agri plans to expand its presence across the value chain – from farmers to consumers. The company will start operating is “Star Agri Bazaar” in the first quarter of 2013-14 and plan to commence operations of 8 such bazaars in the fiscal. The company has recently started operations in Karnataka, Andhra Pradesh, Chhattisgarh and Bihar and will focus on expanding footholds in these states.

Note:

The Registered Office of the company has been shifted from 130 New Dhan Mandi, Sriganganagar – 335001, Rajasthan, India to the present address w.e.f. 08.08.2007

FIXED ASSETS

Tangible Assets

· Land

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Leasehold Improvements

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.62.45
UK Pound	1	Rs.100.86
Euro	1	Rs.84.50

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION		0
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.