MIRA INFORM REPORT

Report Date :

15.03.2014

IDENTIFICATION DETAILS

Name :	ZOPAR EXPORTS PRIVATE LIMITED
Registered Office :	306, Classique Mansion, 6^th Cross, Hal IInd Stage, Bangalore-560008, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	03.10.2000
Com. Reg. No.:	08-027892
Capital Investment / Paid-up Capital :	Rs. 16.329 Millions
CIN No.: [Company Identification No.]	U74999KA2000PTC027892
TAN No.: [Tax Deduction & Collection Account No.]	BLRZ00066D
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in Trading of Flowers.
No. of Employees :	Information declined by management

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 268000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The management has failed to file its financial record with Government Department for the year 2013. As per available record of 2012 the company has achieved fair profitability from its operation. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

State-run banks hired nearly 300000 personnel including more than 94000 officers in the last four years, according to the Indian Banks Association. A study by trade lobby Assocham in September 2013 indicated that banks would need 800000 people in the next six years. It estimated that state-run lenders alone would hire 50000 people in 2013/14.

The Competition Commission of India plans to issue final orders within a broad time-frame of one year in matters where it decides to carry out detailed investigations. The number of complaints received by the watchdog which keeps tabs on unfair trade practices in the marketplace.

The government has detected custom tax evasion totaling around Rs 37920 mn in 14 states until December. Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.

Connaught Place in New Delhi slipped four notches to become the world’s eighth most expensive office locations. London’s West End is the world’s most expensive office market.

There are 4.072 mn number of high value spenders under the scanner of the income tax department. The income tax department has information that they have made cash deposits announcing to Rs 1 mn or more in their savings bank accounts in the current financial year. It plans to check potential evasion before the closing of the financial year on March 31.

Estimated pharmaceutical sales in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago. The life sciences and health care industry is up against challenges such as quality management, says a recent Deloitte report.

The gross non-performing assets of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months of the financial year. In absolute terms, the 40 listed banks added Rs 3386 crore to their gross NPAs in nine months with the State Bank of India leading with the State Bank of India leading with an accretion of Rs 16610 crore.

The inflow of smuggled gold doubled in 2013 following restrictions to curb the supply from official channels to contain the current account deficit. China surpassed India in the demand for gold for the first time in 2013 due to liberalization of gold trading norms by its local governments.

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 DECLINED BY

Name :	Mr. P. Mallikarjun Kumar
Designation :	General Manager
Contact No.:	91-80-25216203
Date :	05.3.2014

LOCATIONS

Registered Office :	306, Classique Mansion, 6^th Cross, Hal IInd Stage, Bangalore-560008, Karnataka, India
Tel. No.:	91-80-25216203 / 30612661
Mobile No.:	91-9945234314 (Mr. P. Mallikarjun Kumar)
Fax No.:	91-80-41482764
E-Mail :	zoparexpo@yahoo.co.in leivang@vsnl.net
Website :	www.zopar.in
Corporate Office/ Branch Office 1 :	Arbuthnot Road, Nongrimmaw, Laitumkhrah, Shillong-793001, Meghalaya, India
Tel. No.:	91-364-2537178
Fax No.:	91-364-2537178
Branch Office 2 :	House No. 190, Ulubari, G.S. Road, Guwahati-781007, Assam, India
Fax No.:	91-361-2363019

DIRECTORS

As on 29.09.2012

Name :	Mr. Rajesh Prasad
Designation :	Managing director
Address :	306, Classique Mansion, 19^th Main, 2^nd Stage, Bangalore-560008, Karnataka, India
Date of Birth/Age :	08.01.1962
Date of Appointment :	16.10.2000
DIN No.:	00454691
Name :	Leivang Lianzami
Designation :	Whole-time director
Address :	Ellvee Haven Arbuthnot Road, Nongrimmaw, Laithukhrah, Shillong-793011, Meghalaya, India
Date of Birth/Age :	13.04.1935
Date of Appointment :	16.10.2000
DIN No.:	01103050

KEY EXECUTIVES

Name :	Mr. P. Mallikarjun Kumar
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Name of Shareholders	No. of Shares	%age
Rajesh Prasad	1340299	82.08
Leivang Lianzami	292551	17.92
Total	1,632,850	100.00

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The company is engaged in Trading of Flowers.
Products / Services :	Cut Flower Trading Construction of Green Houses

GENERAL INFORMATION

No. of Employees :

Information declined by management

Bankers :

• State Bank of India, D.G.A.R. Branch (code-07338), Laitumkhrah, Arbhuthnot Road, Shillong - 793011, Meghalaya, India
• Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long term borrowing
Exim term loan (anthorium projects)	5.500	8.504
Vehicals Loan	0.067	1.085
Short term borrowing
Loans repayable from bank
State Bank of India – Cash Credit Facility	16.518	0.029
Total	22.085	9.618

Note:

The securities for the term loan are as :

Exim term loan (anthorium projects) :

Nature of credit facility : Rs. 8.500 Millions amount secured by charge : Rs. 8.500 Millions.

1. Primary Security on immovable property located at 3/3, Jessole Road, Motilal Colony, Kolkata.

Colllaterol Security

2^nd charge on the entire current assets of the borrower, present and future.

Vehicles Loan :

Hypothecation of respective vehicles have been provided for loan.

Banking Relations :	--
Auditors :
Name :	M S Reddy and Associates Chartered Accountants
Address :	#726, 3^rd Main, 3^rd Cross, D Block, Rajaji Nagar, 2^nd Stage, Bangalore- 560010, Karnataka, India
Tel. No.:	91-80-23422430 / 23523004
E-Mail :	msreddyassociates@gmail.com
PAN No.:	AAHFM8516E

CAPITAL STRUCTURE

After 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1632850	Equity Shares	Rs.10/- each	Rs. 16.329 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	16.329	15.079
(b) Reserves & Surplus	50.610	41.634
(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)	66.939	56.713
(3) Non-Current Liabilities
(a) long-term borrowings	5.567	9.589
(b) Deferred tax liabilities (Net)	0.717	0.024
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	6.284	9.613
(4) Current Liabilities
(a) Short term borrowings	16.633	0.029
(b) Trade payables	40.896	39.268
(c) Other current liabilities	3.363	3.903
(d) Short-term provisions	0.741	1.291
Total Current Liabilities (4)	61.633	44.491
TOTAL	134.856	110.817
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	59.297	41.251
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	18.956
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	59.297	60.207
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	17.421	7.612
(c) Trade receivables	33.135	18.682
(d) Cash and cash equivalents	7.631	0.621
(e) Short-term loans and advances	17.372	22.695
(f) Other current assets	0.000	0.000
Total Current Assets	75.559	49.610
TOTAL	134.856	109.817

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.179
2] Share Application Money		0.000
3] Reserves & Surplus		13.419
4] (Accumulated Losses)		0.000
NETWORTH		13.598
LOAN FUNDS
1] Secured Loans		1.249
2] Unsecured Loans		0.000
TOTAL BORROWING		1.249
DEFERRED TAX LIABILITIES		0.777
TOTAL		15.624
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		25.365
Capital work-in-progress		22.333
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.541
	Sundry Debtors	23.213
	Cash & Bank Balances	3.759
	Other Current Assets	4.774
	Loans & Advances	36.611
Total Current Assets		69.898
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	91.023
	Other Current Liabilities	7.738
	Provisions	3.211
Total Current Liabilities		101.972
Net Current Assets		(32.074)
MISCELLANEOUS EXPENSES		0.000
TOTAL		15.624

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	NA	125.287	137.218
		Other Income
		TOTAL	NA	125.287	137.218
Less	EXPENSES
		Office Expenses		115.495	126.454
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	115.495	126.454
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		11.050	9.792	10.764
Less/ Add	DEPRECIATION/ AMORTISATION		3.371	6.138	5.147
	PROFIT/ (LOSS) BEFORE TAX		7.679	3.654	5.617
Less	TAX		2.693	0.538	2.374
	PROFIT/ (LOSS) AFTER TAX		4.986	3.116	3.243
	PROFIT AFTER TAX CARRIED TO BALANCE SHEET		5.226	3.116	NA
	EARNINGS IN FOREIGN CURRENCY		NIL	NIL	0.000
	Earnings / (Loss) Per Share (Rs.)		3.31	39.40	181.68

Expected Sales (2012-2013) : Rs.140.000 Millions

The above information has been parted by Mr. Rajesh Prasad (Director)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	2.36
Net Profit Margin (PBT/Sales)	(%)	NA	0.08	NA
Return on Total Assets (PBT/Total Assets}	(%)	5.69	4.02	5.90
Return on Investment (ROI) (PBT/Networth)		0.11	0.06	0.41
Debt Equity Ratio (Total Debt/Networth)		0.33	0.17	0.09
Current Ratio (Current Asset/Current Liability)		1.23	1.12	0.69

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	(INR in Mlns.)	(INR in Mlns.)
Share Capital	15.079	16.329
Reserves & Surplus	41.634	50.610
Net worth	56.713	66.939
long-term borrowings	9.589	5.567
Short term borrowings	0.029	16.633
Total borrowings	9.618	22.200
Debt/Equity ratio	0.170	0.332

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011
	(INR in Mlns)	(INR in Mlns)
Total income	137.218	125.287
		(8.695)

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last three 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	No
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	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Note :

Registered office of the company has been shifted from Krishna Tower, Shop No 13 Opposite .C.J Hospital, Surendranagar – 363001, Gujarat, India to the present address w.e.f. 15.11.2013.

VIEW INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10296713	24/09/2012 *	22,300,000.00	state Bank Of India	D.G.A.R. Branch (code-07338), Laitumkhrah , Arbhu  thnot Road, Shillong, Meghalaya - 793011, INDIA	B60082914
2	10243555	12/10/2011 *	8,500,000.00	Export-Import Bank of India	Centre one Building, Floor 21, World Trade Centre  Complex, Cuffe Parade, MUMBAI, Maharashtra - 4000  05, INDIA	B25292277

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long Term Borrowings
Loans and Advances from related parties	0.115	0.000
Total	0.115	0.000

FIXED ASSETS

• Computer and Printer
• Office Equipment
• Furniture and Fixture
• Plant and Machinery
• Vehicles

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 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.61.52
UK Pound	1	Rs.102.22
Euro	1	Rs.85.23

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.