MIRA INFORM REPORT

Report Date :

05.09.2013

IDENTIFICATION DETAILS

Name :	SUNFRESH AGRO INDUSTRIES PRIVATE LIMITED
Registered Office :	Gat No. 121/2A, At Post Ranjankhol, Taluka Rahata, District Ahmednagar, Shrirampur – 413720, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	22.01.2007
Com. Reg. No.:	11-129505
Capital Investment / Paid-up Capital :	Rs. 376.350 Millions
CIN No.: [Company Identification No.]	U01122PN2007PTC129505
TAN No.: [Tax Deduction & Collection Account No.]	PNES21356G
PAN No.: [Permanent Account No.]	AAKCS5451Q / ACGPN8857L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Milk Products.
No. of Employees :	700 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 3900000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Financially company has performed well in the year 2010-2011. Trade relation are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for business dealing at usual trade terms and condition. Note: Profit and Loss Account for the year 2012 is not available

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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities : “BBB-”
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation.
Date	December, 2012

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY

Name :	Mr. Ismail Shaikh
Designation :	Senior Accounts Manager
Contact No.:	91-9011065006
Date :	04.09.2013

LOCATIONS

Registered Office :	Gat No. 121/2A, At Post Ranjankhol, Taluka Rahata, District Ahmednagar, Shrirampur – 413720, Maharashtra, India
Tel. No.:	91-2422-2645901
Mobile No.:	91-9011065006 (Mr. Ismail Shaikh)
Fax No.:	Not Available
E-Mail :	ajay.topale@prabhatfresh.co.in vijay2pdpl@hotmail.com vivek.nirmal@hotmail.com cs@prabhatfresh.org
Factory :	Plot No. U-4, Prabhat – Food Park Nirmal Nagar – Post – Talak Nagar, Tal – Rahata, Ahmed Nagar - 413720, Maharashtra, India
Tel. No.:	91-2422-645904 / 05 / 06
Fax No.:	91-2422-265816

DIRECTORS

As on 29.09.2012

Name :

Mr. Arvind Jagannath Nirmal

Designation :

Additional Director

Address :

Central Bank Colony, Behind Ashoka Hotel, Sangamner Road, Shrirampur, Ahmednagar – 413720, Maharashtra, India

Date of Birth/Age :

17.08.1978

Date of Appointment :

29.09.2012

DIN No. :

00035363

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	U15203PN1998PTC013068	PRABHAT DAIRY PRIVATE LIMITED	Whole-time director	29/09/2007	25/11/1998	-	Active	NO
2	U15142PN2008PLC131439	SUNFRESH SOYA OILS REFINERIES LIMITED	Director	18/02/2008	18/02/2008	-	Amalgamated	NO
3	U15200PN2009PTC134859	PRABHAT NUTRITIOUS & FROZEN FOOD INDUSTRIES PRIVATE LIMITED	Director	30/09/2011	21/10/2009	-	Active	NO
4	U01122PN2007PTC130915	PRABHAT AGRI PROJECT DEVELOPMENT Private Limited	Director	29/09/2012	27/02/2012	-	Active	NO
5	U15209PN2010PTC136135	CHEESE LAND AGRO (INDIA) PRIVATE LIMITED	Director	29/09/2012	27/02/2012	-	Active	NO
6	U01122PN2007PTC129505	SUNFRESH AGRO INDUSTRIES PRIVATE LIMITED	Director	29/09/2012	27/02/2012	-	Active	NO

Name :

Mr. Vivek Sarangdhar Nirmal

Designation :

Director

Address :

At Post Ranjankhol, Taluka Rahata, Shrirampur, Ahmednagar - 413720, Maharashtra, India

Date of Birth/Age :

16.08.1983

Date of Appointment :

22.01.2007

PAN No. :

ACGPN8857L

DIN No. :

00820923

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	U01122PN2007PTC129505	SUNFRESH AGRO INDUSTRIES PRIVATE LIMITED	Director	22/01/2007	22/01/2007	-	Active	NO
2	U01122PN2007PTC130915	PRABHAT AGRI PROJECT DEVELOPMENT PRIVATE LIMITED	Director	26/10/2007	26/10/2007	-	Active	NO
3	U15209PN2010PTC136135	CHEESE LAND AGRO (INDIA) PRIVATE LIMITED	Director	22/04/2010	22/04/2010	-	Active	NO
4	U15200PN2010PTC137025	PRABHAT MILK AND AGRO INDUSTRIES PRIVATE LIMITED	Director	03/08/2010	03/08/2010	-	Amalgamated	NO
5	U15142PN2008PLC131439	SUNFRESH SOYA OILS REFINERIES LIMITED	Director	30/09/2011	21/03/2011	-	Amalgamated	NO
6	U15200PN2009PTC134859	PRABHAT NUTRITIOUS AND FROZEN FOOD INDUSTRIES PRIVATE LIMITED	Director	29/09/2012	27/02/2012	-	Active	NO
7	U15203PN1998PTC013068	PRABHAT DAIRY PRIVATE LIMITED	Managing director	28/09/2012	01/05/2012	-	Active	NO

Name :

Mr. Rajesh Kumar Srivastava

Designation :

Nominee Director

Address :

S-376, Ground Floor, Panchshila Park, New Delhi – 110017, India

Date of Birth/Age :

20.03.1957

Date of Appointment :

28.09.2012

DIN No. :

00302223

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	U67120MH2003PTC139711	RABO INDIA SECURITIES PRIVATE LIMITED	Managing director	20/01/2007	01/06/2006	06/01/2009	Active	NO
2	U65929HR1998PLC037509	RABO INDIA FINANCE LIMITED	Director	18/07/2008	15/03/2007	15/12/2009	Active	NO
3	U67190DL2006PTC191588	RABO EQUITY ADVISORS PRIVATE LIMITED	Managing director	18/07/2008	21/04/2008	-	Active	NO
4	U24239AP2006PLC050060	SRI BIOTECH LABORATORIES INDIA LIMITED	Director	03/03/2009	02/03/2009	-	Active	NO
5	U01110AP1997PTC026890	SRI BIOREMEDIES PRIVATE LIMITED	Director	05/03/2009	04/03/2009	-	Active	NO
6	U15493DL1991PTC205408	ADM AGRO INDUSTRIES KOTA AND AKOLA PRIVATE LIMITED	Director	05/11/2009	05/11/2009	16/08/2011	Active	NO
7	L74899DL1990PLC041790	LT FOODS LIMITED	Nominee director	30/09/2010	09/11/2009	-	Active	NO
8	U15209DL2005PLC135838	DAAWAT FOODS LIMITED	Nominee director	29/09/2010	29/12/2009	-	Active	NO
9	U02001DL1992PLC047666	GLOBAL GREEN COMPANY LIMITED	Director	30/09/2010	31/03/2010	-	Active	NO
10	U74899UP1993PLC034039	VACMET INDIA LIMITED	Director	12/08/2011	19/08/2010	-	Active	NO
11	U74140MH2004PLC148859	NATIONAL COLLATERAL MANAGEMENT SERVICES LIMITED	Director	25/08/2011	13/06/2011	-	Active	NO
12	U01119AP2003PTC041810	SUPER AGRISEEDS PRIVATE LIMITED	Nominee director	30/03/2012	30/03/2012	-	Active	NO
13	U01122PN2007PTC129505	SUNFRESH AGRO INDUSTRIES PRIVATE LIMITED	Nominee director	28/09/2012	28/09/2012	-	Active	NO
14	U15200PN2009PTC134859	PRABHAT NUTRITIOUS AND FROZEN FOOD INDUSTRIES PRIVATE LIMITED	Nominee director	28/09/2012	28/09/2012	-	Active	NO
15	U15203PN1998PTC013068	PRABHAT DAIRY PRIVATE LIMITED	Nominee director	28/09/2012	28/09/2012	-	Active	NO

Name :

Mr. Suneet Subhash Gupta

Designation :

Nominee Director

Address :

A-63, Block A, Defence Colony, New Delhi – 110024, India

Date of Birth/Age :

20.02.1970

Date of Appointment :

28.09.2012

DIN No. :

01653720

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	U67190DL2006PTC191588	RABO EQUITY ADVISORS PRIVATE LIMITED	Director	19/09/2008	19/09/2008	-	Active	NO
2	U24239AP2006PLC050060	SRI BIOTECH LABORATORIES INDIA LIMITED	Director	03/03/2009	02/03/2009	-	Active	NO
3	U01110AP1997PTC026890	SRI BIOREMEDIES PRIVATE LIMITED	Director	05/03/2009	04/03/2009	-	Active	NO
4	U15209DL2005PLC135838	DAAWAT FOODS LIMITED	Nominee director	29/09/2010	29/12/2009	-	Active	NO
5	L74899DL1990PLC041790	LT FOODS LIMITED	Alternate director	29/01/2010	29/01/2010	26/05/2010	Active	NO
6	U74140MH2004PLC148859	NATIONAL COLLATERAL MANAGEMENT SERVICES LIMITED	Director	25/08/2011	13/06/2011	-	Active	NO
7	U01122PN2007PTC129505	SUNFRESH AGRO INDUSTRIES PRIVATE LIMITED	Nominee director	28/09/2012	28/09/2012	-	Active	NO
8	U15200PN2009PTC134859	PRABHAT NUTRITIOUS AND FROZEN FOOD INDUSTRIES PRIVATE LIMITED	Nominee director	28/09/2012	28/09/2012	-	Active	NO
9	U15203PN1998PTC013068	PRABHAT DAIRY PRIVATE LIMITED	Nominee director	28/09/2012	28/09/2012	-	Active	NO

Name :

Mr. Rahul Dinesh Rai

Designation :

Alternate Director

Address :

7/16, DDA Flats, Bhagwan Dass Road, New Delhi – 110001, India

Date of Birth/Age :

12.01.1979

Date of Appointment :

28.09.2012

DIN No. :

02774749

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	U15203PN1998PTC013068	PRABHAT DAIRY PRIVATE LIMITED	Alternate director	28/09/2012	28/09/2012	-	Active	NO
2	U01122PN2007PTC129505	SUNFRESH AGRO INDUSTRIES PRIVATE LIMITED	Alternate director	28/09/2012	28/09/2012	-	Active	NO
3	U15200PN2009PTC134859	PRABHAT NUTRITIOUS AND FROZEN FOOD INDUSTRIES PRIVATE LIMITED	Alternate director	28/09/2012	28/09/2012	-	Active	NO

Name :

Mr. Sebastien Marc Fleury

Designation :

Nominee Director

Address :

28 rue Mere Marie Pia 91480 Quincy sous Senart France

Date of Birth/Age :

11.07.1972

Date of Appointment :

07.06.2013

DIN No. :

06598330

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	U15203PN1998PTC013068	PRABHAT DAIRY PRIVATE LIMITED	Nominee director	07/06/2013	07/06/2013	-	Active	NO
2	U15209PN2010PTC136135	CHEESE LAND AGRO (INDIA) PRIVATE LIMITED	Nominee director	07/06/2013	07/06/2013	-	Active	NO
3	U15200PN2009PTC134859	PRABHAT NUTRITIOUS AND FROZEN FOOD INDUSTRIES PRIVATE LIMITED	Nominee director	07/06/2013	07/06/2013	-	Active	NO
4	U01122PN2007PTC130915	PRABHAT AGRI PROJECT DEVELOPMENT PRIVATE LIMITED	Nominee director	07/06/2013	07/06/2013	-	Active	NO
5	U01122PN2007PTC129505	SUNFRESH AGRO INDUSTRIES PRIVATE LIMITED	Nominee director	07/06/2013	07/06/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ismail Shaikh
Designation :	Senior Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Equity Shareholders	No. of Shares
Vivek Sarangdhar Nirmal	1
Cheese Land Agro (India) Private Limited, India	37483254
Total	37483255

Names of Preference Shareholders	No. of Shares
Sarangdhar R. Nirmal	100
Vivek Sarangdhar Nirmal	100
Anil T. Kadu	40
Kishor R. Nirmal	100
Arvind J. Nirmal	100
Vijaya S. Nirmal	30
Vijay Mohan Harde	30
Anil T. Kadu	14085
Rekha Anil Kadu	14775
Balasaheb M. Harde	6020
Chandrakant K. Nale	18426
Vilas G. Gole	250
Ganesh B. Jangire	12115
Prabhakar P. Kasab	8166
Nidhi V. Nirmal	23120
Nisha K. Nirmal	44210
Lahu M. Pawar	8833
Sarangdhar R. Nirmal	250
Vijaya S. Nirmal	250
Kishor R. Nirmal	250
Nisha K. Nirmal	250
Vijay Mohan Harde	50
Shaila Harde	50
Vivek Sarangdhar Nirmal	50
Kashinath Girhe	50
Total	151700

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Milk Products.

Products :

Item Code No. (ITC Code)	Product Description
04022910	Milk and Allied Products

Terms :

Selling :

Credit

Purchasing :

Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

700 (Approximately)

Bankers :

· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Vijaya Bank, Vinayak Niwas, 1206/A-32, Shirole Road, Opposite Sambhaji Park, Pune - 411004, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	403.358	492.259
SHORT TERM BORROWINGS
Rupee term loans from banks	376.670	201.356
Total	780.028	693.615

Banking Relations :	--
Auditors :
Name :	Shashank Suvarnpathaki and Company Chartered Accountants
Address :	3801 Barde Lane, Navi Peth, Ahmednagar – 414001, Maharashtra, India
Mobile No. :	91-9822069404
Mobile No. :	AONPS9755F
Holding company :	Cheese Land Agro (India) Private Limited, India CIN No.: U15209PN2010PTC136135
Ultimate Holding company :	Prabhat Dairy Private Limited, India CIN No.: U15203PN1998PTC013068
Associate :	· Prabhat Nutritious and Frozen Food Industries Private Limited, India CIN No.: U15200PN2009PTC134859 Prabhat Agri Project Development Private Limited, India CIN No.: U01122PN2007PTC130915

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
56348300	Equity Shares	Rs.10/- each	Rs.563.483 Millions
151700	Preference Shares	Rs.10/- each	Rs. 1.517 Millions
	Total		Rs. 565.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
37483255	Equity Shares	Rs.10/- each	Rs. 374.833 Millions
151700	Preference Shares	Rs.10/- each	Rs. 1.517 Millions
	Total		Rs. 376.350 Millions

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	376.350	300.000
(b) Reserves & Surplus	608.434	80.012
(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)	984.784	380.012
(3) Non-Current Liabilities
(a) long-term borrowings	615.496	492.259
(b) Deferred tax liabilities (Net)	86.266	40.600
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.282	0.063
Total Non-current Liabilities (3)	702.044	532.922
(4) Current Liabilities
(a) Short term borrowings	376.670	201.356
(b) Trade payables	78.814	41.339
(c) Other current liabilities	164.239	85.298
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	619.723	327.993
TOTAL	2306.551	1240.927
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1657.681	701.019
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	57.043	21.312
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.054	0.054
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	1714.778	722.385
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	106.906	120.729
(c) Trade receivables	388.489	280.489
(d) Cash and cash equivalents	29.173	4.307
(e) Short-term loans and advances	52.252	101.590
(f) Other current assets	14.953	11.427
Total Current Assets	591.773	518.542
TOTAL	2306.551	1240.927

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		40.705
2] Share Application Money		161.115
3] Reserves & Surplus		11.767
4] (Accumulated Losses)		0.000
NETWORTH		213.587
LOAN FUNDS
1] Secured Loans		319.013
2] Unsecured Loans		0.000
TOTAL BORROWING		319.013
DEFERRED TAX LIABILITIES		11.618
TOTAL		544.218
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		187.212
Capital work-in-progress		218.578
INVESTMENT		0.156
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	13.582
	Sundry Debtors	117.556
	Cash & Bank Balances	3.703
	Other Current Assets	0.000
	Loans & Advances	13.325
Total Current Assets		148.166
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	16.803
	Other Current Liabilities	0.822
	Provisions	3.234
Total Current Liabilities		20.859
Net Current Assets		127.307
MISCELLANEOUS EXPENSES		10.965
TOTAL		544.218

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL (A)		302.302	363.722
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)		290.024	326.857
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			12.278	36.865
Less	FINANCIAL EXPENSES (D)		NA	0.000	14.843
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			12.278	22.022
Less/ Add	DEPRECIATION/ AMORTISATION (F)			0.920	2.994
	PROFIT BEFORE TAX (E-F) (G)			11.358	19.028
Less	TAX (H)			1.200	10.994
	PROFIT AFTER TAX (G-H) (I)			10.158	8.034
	Earnings Per Share (Rs.)			0.34	1.97

Particulars	31.03.2013
Sales Turnover (Approximately)	5500.000

The above information has been parted by Mr. Ismail Shaikh (Senior Accounts Manager)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	3.36	5.23
Return on Total Assets (PBT/Total Assets}	(%)	NA	0.93	5.67
Return on Investment (ROI) (PBT/Networth)		NA	0.03	0.09
Debt Equity Ratio (Total Debt/Networth)		1.01	1.83	1.49
Current Ratio (Current Asset/Current Liability)		0.95	1.58	7.10

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	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	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10402153	20/12/2012	470,000,000.00	STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH -LEA D BANK	TARA CHAMBERS,2ND FLOOR NEAR MARIAAIPOLICE CHOWKY, OLD PUNE MUMBAI HIGHWAY, WAKDEWADI, PUNE - 411003, MAHARASHTRA, INDIA	B67763425
2	10395119	08/12/2012	322,500,000.00	BANK OF MAHARASHTRA	CHATURSHRUNGI BRANCH , 132 B, GANESH KHIND ROAD, UNIVERSITY ROAD, PUNE - 411007, MAHARASHTRA, INDIA	B65215311
3	10317930	03/04/2013 *	299,500,000.00	VIJAYA BANK	VINAYAK NIWAS, 1206/A-32, SHIROLE ROAD, OPPOSITE SAMBHAJI PARK, PUNE - 411004, MAHARASHTRA, INDIA	B73082315
4	10315191	08/02/2013 *	550,000,000.00	BANK OF INDIA CONSORTIUM	1162/6, UNIVERSITY ROAD, SHIVAJINAGAR, PUNE - 411005, MAHARASHTRA, INDIA	B71000764
5	10311624	22/02/2011	100,000,000.00	CANARA BANK	RAMESH MARKET, MAIN ROAD, SHRIRAMPUR - 413709, MAHARASHTRA, INDIA	B15470024
6	10179335	10/08/2012 *	587,000,000.00	BANK OF INDIA	PUNE MID CORPORATE BRANCH, 1162/6, SHIVAJINAGAR, UNIVERSITY ROAD, PUNE - 411005, MAHARASHTRA, INDIA	B57263741

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from others	212.138	0.000
Total	212.138	0.000

FIXED ASSETS

· Land

Buildings

Factory Building

Plant and Equipment

Factory Equipments

Vehicles

Office Equipment

Computer Equipments

Other Equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.67.03
UK Pound	1	Rs.104.32
Euro	1	Rs.88.24

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--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		48

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.