MIRA INFORM REPORT

Report Date :

01.08.2014

IDENTIFICATION DETAILS

Name :	SANURAG TRADING PRIVATE LIMITED
Registered Office :	18-A, Tower D, Viceroy Park, Thakur Village, Kandivali (East), Mumbai – 400101, Maharashtra
Country :	India
Financials (as on) :	31.03.2014 (Provisional)
Date of Incorporation :	20.01.2014
Com. Reg. No.:	252270
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U52300MH2014PTC252270
PAN No.: [Permanent Account No.]	AAUCS5390N
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of D L Methionine, Sucrose.
No. of Employees :	7 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New Business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new company incorporated on 20.01.2014, and it is establishing itself gradually. Mr. Anup Salian, Manager has provided general and financial information to us. As per provisional financials of 2014 (20^th January, 2014 – 31^st March, 2014), company has achieved decent sales turnover but profitability of the company is low. Trade relations are improving. Business sis active. Payment terms are unknown. The company can be considered for business dealing on a safe and secured 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 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

NEWS

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes that many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 %! Equities came in second with annualized return of 15.5 %! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Anup Salian
Designation :	Manager
Contact No.:	91-22-28955581/ 82/ 83
Date :	31.07.2014

LOCATIONS

Registered Office :	18-A, Tower D, Viceroy Park, Thakur Village, Kandivali (East), Mumbai – 400101, Maharashtra, India
Tel. No.:	91-22-28955581/82
Fax No.:	91-22-28955580
E-Mail :	anup.salian@gmail.com
Area :	1200.00 sq. ft.
Location :	Rented

DIRECTORS

(AS ON 31.03.2014)

Name :	Mr. Sadashiv Kanyana Shetty
Designation :	Director
Address :	18-A, Tower-D, Viceroy Park, Thakur Village, Kandivali (East), Mumbai – 400101, Maharashtra, India
Date of Birth/Age :	13.06.1954
Qualification :	M. SC (Chem.)
Experience :	34 Years
PAN No.:	AAJPS4330G
Name :	Mr. Shriraj Sadashiv Shetty
Designation :	Director
Address :	18-A, Tower-D, Viceroy Park, Thakur Village, Kandivali (East), Mumbai – 400101, Maharashtra, India
Date of Birth/Age :	01.05.1989
Qualification :	M. Tech.
Experience :	2 Years
PAN No.:	DJSPS0969A

KEY EXECUTIVES

Name :	Mr. Anup Salian
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 31.03.2014)

Name of Shareholders	No of Shares
Sadashiv K. Shetty	5000
Shriraj K. Shetty	5000
Total	10000

BUSINESS DETAILS

Line of Business :	Trader of D L Methionine, Sucrose.
Terms :
Selling :	Credit (60-90 days)
Purchasing :	Credit (60-90 days)

GENERAL INFORMATION

Suppliers :	· Vinay Jyot Industries Mumbai – 400003, Maharashtra, India (Mr. Chetan Desai – 91-9322231074) · Synotech Polymers Private Limited Bhiwandi, Thane – 421302, Maharashtra, India (Mr. Ganesh – 91-9223372604)
Customers :	Wholesalers and Retailers · B S Hydrocarbons Private Limited Kandivali, Mumbai – 400101, Maharashtra, India (Mr. Rajiv Nair – 91-959430808) · MBPY Exim Private Limited Malad, Mumbai, Maharashtra, India (Mr. Mahesh Lembhe – 91-8108400351)
No. of Employees :	7 (Approximately)
Bankers :	· Allahabad Bank Dahisar (East), Mumbai, Maharashtra, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	J. H. Ghumara and Company Chartered Accountants
Address :	A/5, Radha Krishna, Gokul Dham, Opposite Sumer Nagar, Near Kora Kendra, Borivali (West), Mumbai – 400092, Maharashtra, India
Tel No.:	91-22-28614466
Fax No.:	91-22-28070077
Associates/Subsidiaries :	· Heranba Industries Limited 101/102 Kanchanganga, Factory Lane, Borivali West, Mumbai – 400092, Maharashtra, India Activity: Manufacturer of Agro Chemicals · Shakti Bio Science Limited 101/A, Suryakiran, Neat to HDFC Bank, Near Chamunda Circle, Borivali (West), Mumbai – 400092, Maharashtra, India Activity: Manufacturer of API’s Pharma Intermediates · Nirmit Mercantile Private Limited 101/A, Suryakiran, Neat to HDFC Bank, Near Chamunda Circle, Borivali (West), Mumbai – 400092, Maharashtra, India Activity: Trader of Chemicals

CAPITAL STRUCTURE

(AFTER 31.03.2014)

Authorised Capital:

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

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

(AS ON 31.03.2014)

Authorised Capital:

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[All figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014 (Provisional)
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	0.047
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1)+(2)	0.147
(3) Non-Current Liabilities
(a) long-term borrowings	2.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	2.000
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	2.973
(c) Other current liabilities	0.000
(d) Short-term provisions	0.000
Total Current Liabilities (4)	2.973
TOTAL	5.120
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
Total Non-Current Assets	0.000
(2) Current assets
(a) Current investments	0.000
(b) Inventories	1.334
(c) Trade receivables	3.778
(d) Cash and cash equivalents	0.008
(e) Short-term loans and advances	0.000
(f) Other current assets	0.000
Total Current Assets	5.120
TOTAL	5.120

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014 (Provisional)
	SALES
		Revenue from Operations	58.381
		Other Income	0.001
		TOTAL (A)	58.382
Less	EXPENSES
		Purchases of stock in trade	59.240
		Changes in Inventories of finished goods, work in progress and stock in trade	(1.335)
		Employee benefits expenses	0.203
		Other Expenses	0.206
		TOTAL (B)	58.314
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.068
Less	FINANCIAL EXPENSES (D)		0.001
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.067
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		0.067
Less	TAX (H)		0.020
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		0.047
	Earnings Per Share (Rs.)		0.05

KEY RATIOS

PARTICULARS		31.03.2014 (Provisional)
PAT / Total Income	(%)	0.08
Net Profit Margin (PBT/Sales)	(%)	0.11
Return on Total Assets (PBT/Total Assets}	(%)	1.31
Return on Investment (ROI) (PBT/Networth)		0.46
Debt Equity Ratio (Total Debt/Networth)		13.61
Current Ratio (Current Asset/Current Liability)		1.72

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 years	Yes
12]	Profitability for last one years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
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	No
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

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UNSECURED LOANS

(RS. IN MILLIONS)

Particulars	31.03.2014 (Provisional)
Loans and Advances from related Parties Director
Loan from Directors	2.000
Total	2.000

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ASSESSMENT OF WORKING CAPITAL REQUIREMENT

OPERATING STATEMENT

(RS. IN MILLIONS)

Particulars	Estimated 31.03.2015	Projection 31.03.2016	Projection 31.03.2017
GROSS INCOME
Sales
a) Domestic Sales	150.000	172.500	198.375
b) Export Sales	0.000	0.000	0.000
c) Sub-total	150.000	172.500	198.375
Other Income	0.000	0.000	0.000
Net Sales	150.000	172.500	198.375
d) %age rise (+) or fall (-) in net sales as compared to previous year	156.93	15.00	15.00
COST OF SALES
Raw Materials (Including Stores and Other Items under in the process of manufacturer)
Imported	0.000	0.000	0.000
Indigenous	0.000	0.000	0.000
Purchases	165.000	187.500	212.000
Other Trading Expenses (Carriage inward Commission and Brokerage on Purchases)	--	--	--
Sub-total	165.000	187.500	212.000
Add: Opening Stock	1.334	0.000	0.000
Sub-total	166.334	187.500	212.000
Less: Closing Stock	22.603	23.116	23.233
SUB TOTAL (COST OF SALES)	143.731	164.384	188.767
Selling, General & Administrative Expenses (including bonus payments)	1.639	1.803	1.983
Operating Profit (Before Interest and Depreciation)	4.630	6.314	7.625
Interest	2.417	3.625	3.625
Depreciation	--	--	--
Operating profit (After Interest and Depreciation)	2.213	2.689	4.000
(i) Add other non-operating income	0.000	0.000	0.000
Sub-total (income)	0.000	0.000	0.000
(ii) Deduct other non-operating expense	0.000	0.000	0.000
Sub-total (expenses)	0.000	0.000	0.000
(iii) Net of other non-operating incomes/expenses	0.000	0.000	0.000
Profit Before Tax/ Loss	2.213	2.689	4.000
Provision for tax	0.700	0.900	1.400
Net Profit / (Loss)	1.513	1.789	2.600
Retained Profit	1.513	1.789	2.600
Gross Profit	6.269	8.116	9.608
Gross Profit (%)	4.18	4.71	0.484
PBT% of Sales	1.48	1.56	2.02
Retained profit / Net Profit (%age)	1.01	1.04	1.31
Cash Accruals	1.513	1.789	2.600
Interest Services Coverage Ratio	1.63	1.49	1.72

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

Particulars	Estimated 31.03.2015	Projection 31.03.2016	Projection 31.03.2017
CURRENT LIABILITIES
Short term borrowings from bank (incl. Bills purchased, discounted and excess borrowings placed on repayment basis)
(i) From applicant bank	25.000	25.000	25.000
(ii) From other banks	--	--	--
(iii) of which EP & BD	--	--	--
Sub Total (A)	25.000	25.000	25.000
Short term borrowings from others	0.000	0.000	0.000
Sundry Creditors - Trade	2.260	2.568	2.904
Advance payments from customers/ deposits from dealers	0.022	0.027	0.032
Provision for Taxation	0.700	0.900	1.400
Dividend Payable	0.000	0.000	0.000
Other statutory liabilities (due within one year)	0.000	0.000	0.000
Deposits/Instalments of term loan/DPGs/ Debentures etc.(due within one year)	0.000	0.000	0.000
Other current liabilities and Provisions (due within one year)	0.000	0.000	0.000
Sub Total (B)	2.983	3.495	4.336
TOTAL CURRENT LIABILITIES	27.983	28.495	29.336
TERM LIABILITIES
Debentures (not maturing within one year)	--	--	--
Preference Shares (redeemable after one year)	--	--	--
Term loans (excluding instalments payable within one year)	--	--	--
Unsecured Loans	1.500	1.500	1.500
Differed Payment Credits (excl. instalments due within one year)	--	--	--
Term deposits (Repayable after one year)	--	--	--
Other term liabilities	--	--	--
TOTAL TERM LIABILITIES	1.500	1.500	1.500
TOTAL OUTSIDE LIABILITIES	29.483	29.995	30.836
NET WORTH
Ordinary Share Capital	9.000	9.000	9.000
Introduction	0.000	0.000	0.000
Withdrawals	0.000	0.000	0.000
Other reserves (excluding provisions)	0.000	0.000	0.000
Surplus (+) or deficit (-) in Profit & Loss Account	1.559	3.347	5.947
Net worth	10.559	12.347	14.947
TOTAL LIABILITIES [18+24]	40.041	42.343	45.784
CURRENT ASSETS
Cash & Bank Balances	0.189	0.195	0.283
Fixed Deposits	--	--	--
Receivables	16.849	18.432	21.468
Inventories
(i) Raw materials (including stores and other items in process of manufacture)
(a) Imported	0.000	0.000	0.000
(b) Indigenous	0.000	0.000	0.000
(ii) Stock-in-process	22.603	23.116	23.233
(iii) Other consumable stores
(a) Imported	--	--	--
(b) Indigenous	--	--	--
(iv) Finished Goods	0.000	0.000	0.000
Advance to suppliers of Raw materials and stores/spares	0.300	0.400	0.500
Advance payment of taxes	0.100	0.200	0.300
Other current assets	0.000	0.000	0.000
TOTAL CURRENT ASSET	40.041	42.343	45.784
FIXED ASSETS
Gross Block (Land and Building Machinery Vehicles work-in-progress)	--	--	--
Depreciation to date	--	--	--
NET BLOCK (35-36)	--	--	--
Investments/book debts /advances deposits which are not current assets	--	--	--
i.(a)Investments in subsidiary companies/ affiliates	--	--	--
(b)Others
ii. Advances to suppliers of capital goods and contractors	--	--	--
iii. Deferred receivables (Maturity exceeding one year)	--	--	--
iv. Others	--	--	--
Non consumables stores & spare	--	--	--
Other non-current assets (incl. Dues from director)	--	--	--
TOTAL OTHER NON-CURRENT ASSETS	--	--	--
Intangible assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided for etc.)	--	--	--
TOTAL ASSETS	40.041	42.343	45.784
Tangible net worth	10.559	12.347	14.947
NET WORKING CAPITAL	12.058	13.848	16.448
CURRENT RATIO	1.43	1.49	1.56
Total Outside Liabilities / Net Worth	2.79	2.43	2.06
Debt/ Quasi Equity Ratio	2.32	2.06	1.78
Lower of TNW and Quasi Equity	1.500	1.500	1.500
TNW + Quasi Equity	12.059	13.847	16.447
TOL – Quasi Equity	27.983	28.495	29.336
ADDITIONAL INFORMATION
A. Arrears of depreciation	--	--	--
B. Contingent Liabilities
(a)Arrears of cumulative dividends	--	--	--
(b)Gratuity liability not provided for	--	--	--
(c)Disputed excise/ customs/tax liabilities	--	--	--
(d)Other liabilities not provided for	--	--	--

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COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLIONS)

Particulars	Estimated 31.03.2015	Projection 31.03.2016	Projection 31.03.2017
A. CURRENT ASSETS:
Raw materials (Including stores and other items used in the process of manufacture)
Imported	0.000	0.000	0.000
Months' consumption	--	--	--
Indigenous	0.000	0.000	0.000
Months' consumption	--	--	--
Other consumable spares
Imported	0.000	0.000	0.000
Months' consumption	--	--	--
Indigenous	0.000	0.000	0.000
Months' consumption	--	--	--
Stocks-in-trade	22.603	23.116	23.233
Months' cost of production	--	--	--
Finished goods	0.000	0.000	0.000
Months' cost of sales	--	--	--
Receivables other than export and deferred receivables (including bills purchased and discounted by bankers)	16.849	18.432	21.468
Months' domestic sales	1.35	1.28	1.30
Exports Receivable (Including bills purchased and discounted)	22.603	23.116	23.233
Months' export sales	--	--	--
Advances payment of Tax	0.100	0.200	0.300
Other current assets incl. cash and bank balance and deferred receivables due within 1 year	0.489	0.595	0.783
TOTAL CURRENT ASSETS	40.041	42.343	45.784
CURRENT LIABILITIES
(Other than bank borrowing for WC)
Creditors for purchase of raw materials, stores and consumable spares	2.260	2.568	2.904
Months' purchases	--	--	--
Advances from customers	--	--	--
Statutory Liabilities	--	--	--
Other current liabilities - Short Term Borrowings, Unsecured Loans, Dividend Payable, Instalments of TL, DPG, Public Deposits, Debentures etc.)	0.722	0.927	1.432
TOTAL CURRENT LIABILITIES	2.983	3.495	4.336

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COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

PARTICULARS	Estimated 31.03.2015	Projection 31.03.2016	Projection 31.03.2017
1. Total Current Assets	40.041	42.343	45.784
2. Other Current Liabilities	2.983	3.495	4.336
(Other than bank borrowing)
3. Working Capital Gap (WCG)	37.058	38.848	41.448
4. Min. stipulated net working Capital i.e. 25% of WCG/25% of total current assets as the case may be depending upon the method of lending being applied (Export receivables to be excluded under both methods)	10.010	10.586	11.446
5. Actual/Projected net working Capital	12.058	13.848	16.448
6. Item 3 minus Item 4	27.048	28.262	30.002
7. Item 3 minus item 5	25.000	25.000	25.000
8. Maximum permissible bank finance (Item 6 or 7 whichever is lower)	25.000	25.000	25.000
9. Excess borrowings representing Short fall in NWC (4 - 5)	2.048	3.262	5.002

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STATEMENT OF ASSETS AND LIABILITIES

(MR. SADASHIV PAKEERA SHETTY)

(RS. IN MILLIONS)

BANK ACCOUNTS

Bank	Branch	S/B, C/D Account No.	Last 6 Months Average Balance
Corporation Bank	Borivali (West)	SB A/c No.005184	0.600

DETAILS OF ASSETS

IMMOVABLE PROPERTY

Assets	Own/Joint Name	Area	Freehold or Leasehold	Location Address	Purchases Cost	Present Value
Flats	Joint	1500 sq. ft.	Freehold	18/A, Tower D, Viceroy Park, Thakur Village, Kandivali (East), Mumbai – 400101, Maharashtra, India	4.929	12.500

MOVABLE PROPERTY

INSURANCE POLICIES

Name of company and Branch	Policy No.	Date of Issue	Sum Assured	Annual Premium
LIC Borivali – IC Colony Branch	892624775	09.07.2004	0.500	0.017
LIC Borivali	892624776	09.07.2004	0.500	0.016
LIC Borivali	892624777	09.07.2004	1.000	0.040
LIC Borivali	892624778	09.07.2004	0.500	0.015
LIC Borivali	892624779	09.07.2004	0.500	0.014
LIC Borivali	892624780	09.07.2004	0.600	0.017
LIC Borivali	892624781	09.07.2004	0.700	0.020
LIC Borivali	892624782	09.07.2004	0.700	0.019
LIC Borivali	880792761	01.07.1999	1.000	0.033
LIC Borivali	880792762	01.07.1999	1.000	0.022
LIC Borivali	905222577	28.03.2005	6.850	0.754

JEWELLERY

Description	Quantity	Valuation (Approx)*	Details of ‘Shridhan’
Ornaments	46.77	1.333	Gold and diamond Jewellery

CAPITAL INVESTED IN BUSINESS – NAME OF FIRM/ COMPANY

Heranba Industries Limited – Equity Shares	15.238
Heranba Industries Limited – Preference Shares	1.010
Shakti Bio Science Limited – Equity Shares with Premium	75.676
Heranba Agro Science Limited – Equity Shares	0.150
Sams Industries Limited – Equity Shares	0.051
Skywood Trading Private Limited – Equity Shares	0.050
Subhang Trdaing Private Limited – Equity Shares	0.050
Sanurang Trdaing Private Limited – Equity Shares	0.050
Nirmit Mercantile Private Limited – Equity Shares	4.950

Other Investments/ Assets - Cash and Bank Balance

Rs.102.536 Millions

DETAILS OF LIABILITIES

AS BORROWER

Bank	Purpose of Loans	Amount of Loan	Security	Repayment Terms	Outstanding Balance
Corporation Bank	Housing Loan	4.150	Kandivali Flat	Standard	1.376

LEGAL HEIRS/ FAMILY PARTICULARS

Name	Occupation	Relation	Age	Marital Status
Sujata Shetty	Business	Wife	54 Year	Married
Shriraj Shetty	Business	Son	25 years	Single

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STATEMENT OF ASSETS AND LIABILITIES

(MR. SHRIRAJ SADASHIV SHETTY)

(RS. IN MILLIONS)

BANK ACCOUNTS

Bank	Branch	S/B, C/D Account No.	Last 6 Months Average Balance
ICICI Bank	Kandivali (East)	SB A/c No.026701513744	0.026

DETAILS OF ASSETS

MOVABLE PROPERTY

JEWELLERY

Description	Quantity	Valuation (Approx)*	Details of ‘Shridhan’
Ornaments	3.12	0.089	Gold and diamond Jewellery

CAPITAL INVESTED IN BUSINESS – NAME OF FIRM/ COMPANY

Heranba Industries Limited – Equity Shares	0.843
Shakti Bio Science Limited – Equity Shares	0.002
Skywood Trading Private Limited – Equity Shares	0.050
Subhang Trdaing Private Limited – Equity Shares	0.050
Sanurang Trdaing Private Limited – Equity Shares	0.050
Nirmit Mercantile Private Limited – Equity Shares	0.050

Other Investments/ Assets – Cash and Bank Balance

Rs.0.075 Million

LEGAL HEIRS/ FAMILY PARTICULARS

Name	Occupation	Relation	Age	Marital Status
Sujata Shetty	Business	Mother	54 Years	Married
Sadashiv Shetty	Business	Father	59 years	Married

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INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

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.60.25
UK Pound	1	Rs.101.92
Euro	1	Rs.80.70

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUM
Report Prepared by :	NIT

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.