MIRA INFORM REPORT

Report Date :

22.01.2014

IDENTIFICATION DETAILS

Name :	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED
Registered Office :	Prakash House, 39-40, Krishna Estate, Opposite Gorwa BIDC, Vadodara-390016, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	09.08.2002
Com. Reg. No.:	04-041095
Capital Investment / Paid-up Capital :	Rs. 0.500 Millions
CIN No.: [Company Identification No.]	U51496GJ2002PTC041095
PAN No.: [Permanent Account No.]	AACCP6646G
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Chemical, Dyes and Intermediates
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

Maximum Credit Limit :	USD 230000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Exits
Comments :	Subject is an established company having moderate track record. Profitability of the company appears to be low. However, Trade relation are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing 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.

INDIAN ECONOMIC OVERVIEW

India’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Bank Facility=BB+
Rating Explanation	Inadequate credit quality and high credit risk
Date	08.07.2013

Rating Agency Name	CARE
Rating	Long Term Bank Facility=A4+
Rating Explanation	Minimal degree of satisfy and very high credit risk
Date	08.07.2013

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 (GENERAL DETAILS)

Name :	Batul
Designation :	Marketing
Contact No.:	265-3926000
Date :	07.01.2014

LOCATIONS

Registered Office :	Prakash House, 39-40, Krishna Estate, Opposite Gorwa BIDC, Vadodara-390016, Gujarat, India
Tel. No.:	0265-3926000
Fax No.:	0265-3926122
E-Mail :	chetan@prakashchemical.com vimal@prakashchemical.com pcapl@pcaplindia.com dilip@prakashchemicals.com pcpl@prakashchemicals.com export@prakashchemical.com
Website :	http://www.prakashchemicals.co.in http://www.pcaplindia.com
Area :	1000 Sq. ft.
Location :	Owned
Branch Office :	Located At: Ahemdabad North Gujarat Ankleshwar Bharuch Dahej Vapi Daman Silvass Saurashtra Mumbai Surat

DIRECTORS

As on 30.09.2013

Name :

Mr. Sudip Dilip Shah

Designation :

Managing Director

Address :

15, Urmi Society, Baroda Productivity Road, Vadodara – 390020, Gujarat, India

Date of Appointment :

01.05.2004

DIN No.:

00308615

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	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Managing director	01/05/2004	01/05/2004	-	Active	NO
2	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	01/11/2004	01/11/2004	-	Active	NO
3	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO

Name :

Mr. Dilip Kumarpal Shah

Designation :

Managing Director

Address :

15, Urmi Society, Baroda Productivity Road, Vadodara – 390020, Gujarat, India

Date of Birth/Age :

21.09.1956

Date of Appointment :

09.08.2002

DIN No.:

00308782

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04/01/1994	04/01/1994	-	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28/02/1995	28/02/1995	-	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03/04/2001	03/04/2001	-	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	21/06/2002	21/06/2002	-	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Managing director	09/08/2002	09/08/2002	-	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO
7	U92412GJ2009NPL058550	VADODARA MARATHON	Director	12/11/2009	12/11/2009	-	Active	NO
8	U85110GJ2012NPL068724	PRAKASH COMMUNITY CENTRE	Director	23/01/2012	23/01/2012	-	Active	NO

Name :

Mr. Hitesh Chandrakant Shah

Designation :

Director

Address :

1, Bhagyalaxmi Society, Near Akota Garden, Vadodara, Gujarat, India

Date of Birth/Age :

17.07.1958

Date of Appointment :

28.09.2002

DIN No.:

00315534

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04/01/1994	04/01/1994	-	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	-	Active	NO
3	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
4	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
5	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO
6	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	10/03/2007	10/03/2007	-	Active	NO

Name :

Mr. Atul Chandrakant Shah

Designation :

Director

Address :

21, Charotar Society, Old Padra Road, Vadodara – 390020, Gujarat, India

Date of Birth/Age :

10.11.1959

Date of Appointment :

28.09.2002

DIN No.:

00411580

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04/01/1994	04/01/1994	-	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	-	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03/04/2001	03/04/2001	-	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO

Name :

M. Pinakin Kumarpal Shah

Designation :

Director

Address :

7, Nandanvan Colony, Near Akota Stadium, Vadodara – 390020, Gujarat, India

Date of Birth/Age :

18.09.1961

Date of Appointment :

28.09.2002

DIN No.:

00411629

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04/01/1994	04/01/1994	-	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28/02/1995	28/02/1995	-	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03/04/2001	03/04/2001	-	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Managing director	21/03/2005	21/03/2005	-	Active	NO

Name :

Mr. Manish Kumarpal Shah

Designation :

Director

Address :

3, Spring Valley, Productivity Road, Vadodara, Gujarat, India

Date of Birth/Age :

13.12.1968

Date of Appointment:

09.08.2002

DIN :

00315521

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04/01/1994	04/01/1994	-	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28/02/1995	28/02/1995	-	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03/04/2001	03/04/2001	-	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Managing director	21/06/2002	21/06/2002	-	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	09/08/2002	09/08/2002	-	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO

Name :

Mr. Chirag Prakash Shah

Designation :

Director

Address :

57, Shreenagar Society, Shri Dinesh Mill Road, Vadodara – 390020, Gujarat, India

Date of Birth/Age :

12.10.1973

Date of Appointment:

28.09.2002

DIN :

00308856

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04/01/1994	04/01/1994	-	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	-	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03/04/2001	03/04/2001	-	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO

Name :

Mr. Hardik Suryakant Shah

Designation :

Director

Address :

5, Sriniketan Society, Jetalpur Road, Vadodara – 390005, Gujarat, India

Date of Birth/Age :

02.03.1977

Date of Appointment:

28.09.2002

DIN :

00315509

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04/01/1994	04/01/1994	-	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	10/02/1996	10/02/1996	-	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Managing director	03/04/2001	03/04/2001	-	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO

Name :

Mr. Prakash Chunilal Shah

Designation :

Director

Address :

57, Shreenagar Society, Shri Dinesh Mill Road, Vadodara – 390020, Gujarat, India

Date of Birth/Age :

03.11.1945

Date of Appointment :

09.08.2002

DIN :

00382086

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04/01/1994	04/01/1994	-	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	-	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03/04/2001	03/04/2001	-	Active	NO
4	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	09/08/2002	09/08/2002	-	Active	NO
5	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	-	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	-	Active	NO
7	U85110GJ2012NPL068724	PRAKASH COMMUNITY CENTRE	Director	23/01/2012	23/01/2012	-	Active	NO

KEY EXECUTIVES

Name :	Batul
Designation :	Marketing

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Prakash Chunilal Shah	6250
Dilip Kumarpal Shah	4251
Atul Chandrakant Shah	6250
Pinakin Kumarpal Shah	6249
Manish Kumarpal Shah	6249
Chirag Prakash Shah	6249
Hardik Suryakant Shah	6253
Hitesh Chandrakant Shah	6249
Sudip Dilip Shah	2000
Total	50000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Chemical, Dyes and Intermediates

Products :

Item Code No. (ITC Code)	292141
Product Description	Aniline
Item Code No. (ITC Code)	291510
Product Description	Formic Acid
Item Code No. (ITC Code)	283410
Product Description	Sodium Nitrite

Exports :

Products :

Dyes and Chemical

Countries :

· Brazil

· Europe

· Egypt

· Turkey

Imports :

Products :

Dyes and Chemical

Countries :

China

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

End Users, OEM’s

No. of Employees :

50 (Approximately)

Bankers :

Bank of Baroda. Navayard Branch, Indulal Yagnik Trust Building Opposite Chhani Jakat Naka, Vadodara - 390002, Gujarat, India

Reported: Chief Manager-Mr. Sharma informed that relation of subject company with bank is excellent.

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
Long Term Borrowing
Term Loan From Banks	3.518	8.826
Short Term Borrowing
Loan Repayable On Demand	63.825	50.636
Total	67.343	59.462

Banking Relations :	---
Auditors :
Name :	C. R. Sharedalal and Company Chartered Accountants
Address :	101-102, 1st floor, Parishram, 5/B, Rashmi Society, MIthakhali Six Road,Navrangpura, Ahmedabad – 380 009, Gujarat, India
Tel. No.:	079-26446560
Fax No.:	079-26449570
E-Mail :	info@crshredalalco.com
PAN No.:	AAAFC6902F
Subsidiaries :	· Prakash Chemicals International Private Limited · Shah International FZE

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 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	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500	0.500
(b) Reserves & Surplus	58.993	50.486	46.276
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	59.493	50.986	46.776
(3) Non-Current Liabilities
(a) long-term borrowings	11.030	11.898	9.677
(b) Deferred tax liabilities (Net)	2.514	1.892	1.167
(c) Other long term liabilities	0.037	0.037	0.037
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	13.581	13.827	10.881
(4) Current Liabilities
(a) Short term borrowings	63.825	67.595	50.966
(b) Trade payables	139.618	118.223	62.844
(c) Other current liabilities	5.448	5.227	5.894
(d) Short-term provisions	1.763	1.752	2.587
Total Current Liabilities (4)	210.654	192.797	122.291
TOTAL	283.728	257.610	179.948
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	36.848	38.484	22.745
(ii) Intangible Assets	0.781	0.187	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	7.752	7.752	7.752
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	10.672	8.702	8.373
(e) Other Non-current assets	0.487	0.457	0.418
Total Non-Current Assets	56.54	55.582	39.288
(2) Current assets
(a) Current investments	0.000	0.000	0.016
(b) Inventories	17.986	33.278	17.371
(c) Trade receivables	177.864	146.328	113.926
(d) Cash and cash equivalents	23.100	13.693	1.316
(e) Short-term loans and advances	8.238	8.729	8.031
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	227.188	202.028	140.66
TOTAL	283.728	257.610	179.948

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1078.444	756.862	614.499
		Other Income
		TOTAL (A)	1078.444	756.862	614.499
Less	EXPENSES
		Office Expenses
		Administrative Expenses	1063.052	748.179	600.561
		Advertising Expenses
		TOTAL (B)	1063.052	748.179	600.561
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		15.392	8.683	13.938
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.392	8.683	13.938
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.412	2.048	1.953
	PROFIT BEFORE TAX (E-F) (G)		12.980	6.635	11.985
Less	TAX (H)		4.472	2.425	5.322
	PROFIT AFTER TAX (G-H) (I)		8.508	4.210	6.663
	Earnings Per Share (Rs.)		17.016	8.420	13.326

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.78	0.55	1.07
Return on Total Assets (PBT/Total Assets}	(%)	4.70	2.65	6.96
Return on Investment (ROI) (PBT/Networth)		0.21	0.13	0.25
Debt Equity Ratio (Total Debt /Networth)		1.25	1.55	1.29
Current Ratio (Current Asset/Current Liability)		1.07	1.04	1.15

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 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	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	Yes
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

LITIGATIONS DETAIL:

HIGH COURT OF GUJARAT

TAX APPEAL No. 745 of 2012

Status : PENDING

CCIN No : 001092201200745

Last Listing Date:	26/02/2013
Coram	HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MS JUSTICE SONIA GOKANI

S.NO.	Name of the Petitioner	Advocate On Record
1	COMMISSIONER OF INCOME TAX II	MR KM PARIKH for: Appellant(s)  1

S.NO.	Name of the Respondant	Advocate On Record
1	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	RULE NOT RECD BACK for :Opponent(s)  1 MR RK PATEL for :Opponent(s)  1

Presented On	: 04/10/2012	Registered On	: 19/10/2012
Bench Category	: DIVISION BENCH	District	: VADODARA
Case Originated From	: THROUGH ADVOCATE	Listed	: 2 times
StageName	: FOR FINAL HEARING

Office Objection

Filing Stage Filing Stage Filing Stage Filing Stage Filing Stage Filing Stage Filing Stage Filing Stage Filing Stage Filing Stage

WHETHER INDEX-CUM-CHRONOLOGY OF DOCUMNETS AND EVENTS FILED ? WHETHER PROPER & FULL COURT FEE IS PAID ? WHETHER THE MEMO OF PETITION/APPEAL IS SIGNED ? WHETHER VAKALATNAMA SIGNED BY ALL PETITIONERS/ APPELLANTS & ACCEPTEDBY ADVOCATE WHETHER CERTIFIED COPIES FILED ? APPELLATE JUDGEMENT WHETHER NAMES OF THE PARTIES TALLY WITH NAMES IN THE CERTIFIED COPIES ? WHETHER PAGING IS DONE ? WHETHER II SET FILED ? WHETHER COPIES ARE LEGIBLE AND WHETHER TYPED COPIES OF HAND WRITTEN ANNEXURES FILED ? WHETHER COPIES ARE TRUE COPIES SO SIGNED BY ADVOCATE ?

Classification	DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO HIGH COURT - U/S 260 OF IT ACT - LONG TERM CAPITAL GAIN - U/S 54EA
Act	INCOME-TAX ACT, 1961

OTHER FORUMS

S.No.	CASEDETAILS	TRIBUNAL REFERRENCE	ORDER PASSED BY	JUDGEMENT DATE	PLACE
1	ITA/2803/AHD/2008	INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH	-	13/04/2012	VADODARA

OFFICE DETAILS

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	15/08/2012	DOCUMENT	RULE NOT RECD BACK  for RESPONDENT(s)  1	-	RULE NOT RECD BACK:1
2	04/10/2012	MEMO OF APPEAL/PETITION/SUIT	MR KM PARIKH ADVOCATE for PETITIONER(s)  1	20	MR KM PARIKH:1
3	03/11/2012	CERTIFIED COPY	MR KM PARIKH ADVOCATE for PETITIONER(s)  1	6	MR KM PARIKH:1
4	20/04/2013	VAKALATNAMA	MR RK PATEL ADVOCATE for RESPONDENT(s)  1	5	MR RK PATEL:1

COURT PROCEEDINGS

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	22/10/2012	9	47	OFFICE OBJECTION (FILING STAGE)	NEXT DATE	HONOURABLE MR.JUSTICE AKIL KURESHI  HONOURABLE MS.JUSTICE HARSHA DEVANI
2	26/02/2013	8	23	OFFICE OBJECTION REMOVED	RULE/ADMIT	HONOURABLE MR.JUSTICE AKIL KURESHI  HONOURABLE MS JUSTICE SONIA GOKANI

AVAILABLE ORDERS

S. No.	Case Details	Judge Name	Order Date	CAV	Judgement	Questions	Transferred	Download
1	TAX APPEAL/744/2012	HONOURABLE MR.JUSTICE AKIL KURESHI  HONOURABLE MS JUSTICE SONIA GOKANI	26/02/2013	N	ORDER	-	Y	Download

CERTIFIED COPY

S. No.	ApplicantName	ApplicationType	Application Date	UOL Number	Order Date	Notify Date	Delivery Date	Status	Nature Of Document
1	MR KM PARIKH	ORDINARY	28/02/2013	O/6867/2013	26/02/2013	01/03/2013	04/03/2013	Delivered	ORDER

UNSECURED LOAN:

Rs. In Millions

Particular	As on 31.03.2013	As on 31.03.2012
Long Term Borrowings
Loans and Advance from Others	6.985	2.570
Loans and Advance from Directors	0.527	0.502
Short Term Borrowing
Loan Repayable on Demand From Banks	0.000	16.959
Total	7.512	20.031

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10246186	02/04/2013 *	120,200,000.00	BANK OF BARODA	NAVAYARD BRANCH, INDULAL YAGNIK TRUST BLDG.,OPP. CHHANIJAKAT NAKA, VADODAARA, GUJARAT - 390002, INDIA	B72777279
2	10103898	07/03/2013 *	120,200,000.00	BANK OF BARODA	NAVAYARD BRANCH, INDULAL YAGNIK TRUST BLDG.,OPP. CHHANIJAKAT NAKA, VADODAARA, GUJARAT - 390002, INDIA	B72777485
3	10018039	24/08/2006	30,000,000.00	BANK OF BARODA	NAVAYARD BRANCH, INDULAL YAGNIK TRUST BLDG.,OPP. CHHANIJAKAT NAKA, VADODAARA, GUJARAT - 390002, INDIA	A04234860
4	90110755	01/07/2004	9,000,000.00	BANK OF BARODA	NAVAYARD BRANCH, INDULAL YAGNIK TRUST BLDG.,OPP. CHHANIJAKAT NAKA, VADODAARA, GUJARAT - 390002, INDIA	-

FIXED ASSETS:

· Land

· Buildings

· Buildings

· Factory equipments

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

· Other equipments

· Plant and Machinery

· LCH Gas Clyinder

· Electrical Installation

· Air Conditioner

· Zerox Machine

· Refrigerator

· Motor Car

· Cycle

· Computer

· UPS System

· Intercom

· Generator

· Dead Stock

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.61.54
UK Pound	1	Rs.101.08
Euro	1	Rs.83.38

INFORMATION DETAILS

Information Gathered by :	HET
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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.