MIRA INFORM REPORT

Report Date :

18.11.2014

IDENTIFICATION DETAILS

Name :	SUMINTER INDIA ORGANICS PRIVATE LIMITED
Registered Office :	Indiana House, Makwana Road, Off M. V. Road, Marol Naka, Andheri (East), Mumbai – 400 059, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	22.04.2004
Com. Reg. No.:	11-145857
Capital Investment / Paid-up Capital :	Rs.14.056 Millions
CIN No.: [Company Identification No.]	U51220MH2004PTC145857
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAICS3167M
Legal Form :	Private Limited Liability Company
Line of Business :	Procure, process and export various agricultural commodities mainly spices soya, cotton, etc.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Exist
Comments :	Subject is an established company having satisfactory track record. The rating reflects company’s established position in the Indian organic products segment supported by diversified product profile, sound financial base and fair profitability margins of the company. 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 condition.

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

N E W S

Verdict Implications: Apex court order may alter coal import dynamics. Traders go slowly on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn Business Empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M a M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that it had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = BBB
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	30.08.2014

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 DENIED BY

Name :	Mr. Hitesh
Designation :	Not Divulged
Contact No.:	91-22-42029000
Date :	17.11.2014

LOCATIONS

Registered Office :	Indiana House, Makwana Road, Off M.V. Road, Marol Naka, Andheri (East), Mumbai – 400 059, Maharashtra, India
Tel. No.:	91-22-26743685 / 42029000
Fax No.:	91-22-26744903
E-Mail :	info@suminterindiaorganica.com
Website :	www.suminterindiaorganics.com
Corporate Office :	X Cube, 3^rd Floor, Opposite Fun Republic, New Link Road, Andheri (West), Mumbai – 400 053, Maharashtra, India.
Tel. No.:	91-22-42029000
Fax No.:	91-22-26744903
E-Mail :	ginfo@suminter.com cotton@suminter.com food@suminter.com

DIRECTORS

As on 16.12.2013

Name :

Mr. Sameer Vijaykumar Mehra

Designation :

Director

Address :

127, Rohal Kutir, Gulmohar X Road, 10, JVPD Scheme Juhu, Vile Parle (West), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

13.10.1974

Date of Appointment :

22.04.2004

PAN No.:

AAHPM3778J

DIN No.:

00162245

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	U51220MH2004PTC145857	SUMINTER INDIA ORGANICS PRIVATE LIMITED	Director	22/04/2004	22/04/2004	-	Active	NO
2	U74999MP2005PTC028846	BERGWERFF ORGANIC INDIA PRIVATE LIMITED	Nominee director	26/11/2005	26/11/2005	-	Active	NO
3	U51909DL2005PTC134336	BERGWERFF INDIA MARKETING PRIVATE LIMITED	Nominee director	16/05/2006	16/05/2006	-	Strike off	NO
4	U91110MH1999NPL122117	Entrepreneurs' Organization Mumbai	Director	01/07/2008	01/07/2008	01/07/2009	Active	NO
5	U74140MH1997NPL111167	YOUNG PRESIDENTS ORGANIZATION (MUMBAI CHAPTER)	Director	09/07/2013	09/07/2013	-	Active	NO
6	U17299MH2012PTC228122	THE SUMINTER ORGANIC AND FAIR TRADE COTTON GINNING MILL PRIVATE LIMITED	Additional director	07/11/2013	07/11/2013	-	Active	NO

Name :

Mr. Sandeep Shamsunder Sehgal

Designation :

Director

Address :

Flat No.16, Konark Express, Dr. E. Moses Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/Age :

21.10.1966

Date of Appointment :

04.12.2007

DIN No.:

00422796

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	U73900MH1998PTC116053	NETMAGIC SOLUTIONS PRIVATE LIMITED	Director	09/07/2001	09/07/2001	07/09/2010	Active	NO
2	U72300MH2000PLC124984	KPIT GLOBAL SOLUTIONS LIMITED	Director	27/07/2001	27/07/2001	01/12/2008	Active	NO
3	U72200MH1999PTC123007	EVENTURES INDIA PRIVATE LIMITED	Director	27/07/2001	27/07/2001	-	Active	NO
4	U74300MH2000PTC126354	IGNITEE DIGITAL SOLUTIONS PRIVATE LIMITED	Director	30/11/2011	13/08/2001	-	Active	NO
5	U74300MH1999PTC120140	CONTESTS2WIN COM INDIA PRIVATE LIMITED	Nominee director	29/09/2001	29/09/2001	13/01/2014	Active	NO
6	U74140MH2001PTC133168	MEDUSIND SOLUTIONS INDIA PRIVATE LIMITED	Director	27/09/2006	20/04/2006	-	Active	NO
7	U51395MH2003PTC142173	MOBILE2WIN INDIA PRIVATE LIMITED	Director	23/06/2006	23/06/2006	-	Active	NO
8	U65999MH2007PTC167234	Nexus India Capital Advisors Private Limited	Managing director	12/08/2008	24/01/2007	-	Active	NO
9	U51220MH2004PTC145857	SUMINTER INDIA ORGANICS PRIVATE LIMITED	Director	04/12/2007	04/12/2007	-	Active	NO
10	U74300MH2005PTC150598	MEDIA2WIN INDIA PRIVATE LIMITED	Nominee director	30/06/2008	30/06/2008	11/04/2012	Active	NO
11	U72200MH2006PTC160596	GAMES2WIN INDIA PRIVATE LIMITED	Nominee director	30/06/2008	30/06/2008	11/04/2012	Active	NO
12	U72200KA2004PTC034432	EKA SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	17/03/2009	17/03/2009	-	Active	NO
13	U72200TG1996PTC024351	DECCAN HEALTH CARE Private LIMITED	Director	29/09/2009	10/07/2009	-	Active	NO
14	U72200KA1999PTC025232	MISTRAL SOLUTIONS PRIVATE LIMITED	Director	26/08/2010	19/01/2010	-	Active	NO
15	U74999DL2003PTC122939	NORTH END FOODS MARKETING PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
16	U93090DL2009PTC193172	SOHAN LAL COMMODITY MANAGEMENT PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
17	U41000MH2010FTC208464	Jaldhara Technologies Private Limited	Director	30/09/2010	30/09/2010	-	Active	NO
18	U29253MH2007PTC172479	SEDEMAC Mechatronics Private Limited	Director	30/09/2011	10/06/2011	-	Active	NO
19	U36109GJ2011PTC063731	KRIBHA HANDICRAFTS PRIVATE LIMITED	Director	05/08/2011	05/08/2011	-	Active	NO
20	U65993TN1980PTC008184	KISSANDHAN AGRI FINANCIAL SERVICES PRIVATE LIMITED	Director	28/06/2012	13/08/2011	-	Active	NO
21	U93000DL2011PTC219498	Lapis Marketing Services Private Limited	Nominee director	23/08/2011	23/08/2011	10/04/2012	Active	NO
22	U80301PN2013PTC149566	Function Space Labs PRIVATE LIMITED	Director	20/12/2013	20/12/2013	-	Active	NO
1	U73900MH1998PTC116053	NETMAGIC SOLUTIONS PRIVATE LIMITED	Director	09/07/2001	09/07/2001	07/09/2010	Active	NO
2	U72300MH2000PLC124984	KPIT GLOBAL SOLUTIONS LIMITED	Director	27/07/2001	27/07/2001	01/12/2008	Active	NO

Name :

Mr. Nitin Sehgal

Designation :

Director

Address :

303, Stellar Tower, Lokhandwala Complex, Andheri (West), Mumbai, Maharashtra, India

Date of Birth/Age :

07.11.1973

Date of Appointment :

30.06.2012

DIN No.:

05216261

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	U74120MH2012PTC228152	QUALITY COTTON AND SPICES PRIVATE LIMITED	Director	14/03/2012	14/03/2012	-	Active	NO
2	U17299MH2012PTC228122	THE SUMINTER ORGANIC AND FAIR TRADE COTTON GINNING MILL PRIVATE LIMITED	Director	14/03/2012	14/03/2012	-	Active	NO
3	U74999MP2005PTC028846	BERGWERFF ORGANIC INDIA PRIVATE LIMITED	Director	05/10/2012	30/06/2012	-	Active	NO
4	U51220MH2004PTC145857	SUMINTER INDIA ORGANICS PRIVATE LIMITED	Director	20/12/2012	30/06/2012	-	Active	NO

Name :

Mr. Yiu Bong Alan Chang

Designation :

Nominee Director

Address :

609, alger Drive, Palo Alto, California, CA94306

Date of Birth/Age :

12.09.1975

Date of Appointment :

23.02.2012

DIN No.:

05229759

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	U51220MH2004PTC145857	SUMINTER INDIA ORGANICS PRIVATE LIMITED	Nominee director	20/12/2012	23/02/2012	-	Active	NO
2	U72300DL2008PTC173847	VAS DATA SERVICES PRIVATE LIMITED	Director	29/09/2012	19/03/2012	-	Active	NO
3	U29248TN2012FTC088235	SUNPREME SOLAR INDIA PRIVATE LIMITED	Director	26/10/2012	26/10/2012	-	Active	NO

MAJOR SHAREHOLDERS

As on 16.12.2013

Names of Shareholders	No. of Shares
Equity Shareholders (Fully Paid) (Rs.10/- Each)
Sameer V. Mehra	5000
Padma G. Hingorani	5000
Nexus India Ventures I Investments, Mauritius	100
Total	10100

Names of Shareholders	No. of Shares
Equity Shareholders (Fully Paid) (Rs.8/- Each)
Sameer V. Mehra (HUF)	302500
Padme G. Hingorani	345000
Sameer V. Mehra	42500
Total	690000

Names of Preference Shareholders	No. of Shares
Nexus India Ventures I Investments, Mauritius	561091
Pacific Sequoia Holdings LLC, USA	197244
The Skoll Foundation, USA	45675
Skoll Fund, USA	39463
Total	843473

Equity Share Break up (Percentage of Total Equity)

As on 16.12.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	0.02
Directors or relatives of Directors	49.99
Other top fifty shareholders	49.99
Total	100.00

BUSINESS DETAILS

Line of Business :	Procure, process and export various agricultural commodities mainly spices, soya, cotton, etc.
Products :	Spices Soya Cotton
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Information denied by management

Bankers :

• Corporation Bank, 301-302, The Eagle Flight, Suren Road, Andheri (East), Mumbai – 400093, Maharashtra, India.

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
LONG TERM BORROWINGS
Loans taken for vehicles	0.964	0.578
SHORT TERM BORROWINGS
Other loans and advances, others	344.018	183.638
Total	344.982	184.216

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountant
Address :	Tower 3, 27^th 32^nd Floor, Indiabulls Finance Centre, Elphinstone Mills Compound, Senapati Bapat Marg, Elphistone (West), Mumbai - 400013, Maharashtra, India
PAN No.:	AADFD2337G
Memberships :	--
Collaborators :	--
Subsidiary Company :	Bergwerff Organic India Private Limited CIN No.:U74999MP2005PTC028846
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	Suminter India Organics B.V. Suminter Global FZE Anaaya Organics Private Limited CIN No.:U24100MH2010PTC209720

CAPITAL STRUCTURE

As on 16.12.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 Millions
1000000	Preference Shares	Rs.10/- each	Rs.10.000 Millions
	Total		Rs.17.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
700100	Equity Shares	Rs.10/- each	Rs.7.001 Millions
843473	Preference Shares	Rs.10/- each	Rs.8.435 Millions
	Total		Rs.15.436 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 Millions
1000000	Preference Shares	Rs.10/- each	Rs.10.000 Millions
	Total		Rs.17.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10100	Equity Shares	Rs.10/- each	Rs.0.101 Million
690000	Equity Shares	Rs.8/- each	Rs.5.520 Millions
843473	Preference Shares	Rs.10/- each	Rs.8.435 Millions
	Total		Rs.14.056 Millions

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	14.056	14.056	14.056
(b) Reserves & Surplus	473.988	421.232	400.866
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.336	0.336	0.336
Total Shareholders’ Funds (1) + (2)	488.380	435.624	415.258
(3) Non-Current Liabilities
(a) long-term borrowings	0.964	0.578	0.308
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.141	0.722
Total Non-current Liabilities (3)	0.964	0.719	1.030
(4) Current Liabilities
(a) Short term borrowings	344.018	183.638	115.353
(b) Trade payables	32.912	24.060	16.270
(c) Other current liabilities	10.469	7.983	3.549
(d) Short-term provisions	21.505	5.324	2.919
Total Current Liabilities (4)	408.904	221.005	138.091
TOTAL	898.248	657.348	554.379
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	11.786	9.141	8.523
(ii) Intangible Assets	0.689	0.028	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	62.502	9.595	9.595
(c) Deferred tax assets (net)	0.231	0.542	0.538
(d) Long-term Loan and Advances	23.127	71.272	99.766
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	98.335	90.578	118.422
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	221.686	150.321	203.252
(c) Trade receivables	418.749	325.180	132.427
(d) Cash and cash equivalents	33.926	44.894	68.625
(e) Short-term loans and advances	125.552	46.375	31.653
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	799.913	566.770	435.957
TOTAL	898.248	657.348	554.379

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income			1196.458	1072.271
		Other Income			32.447	8.142
		TOTAL		1,601.583	1,228.905	1,080.413
Less	EXPENSES			1,517.566	1,197.786	1,061.212
	PROFIT/(LOSS) BEFORE TAX			84.017	31.119	19.201
Less	TAX			31.261	10.753	(0.380)
	PROFIT/(LOSS) AFTER TAX			52.756	20.366	19.581
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			27.415	7.049	(12.532)
	BALANCE CARRIED TO THE B/S			80.171	27.415	7.049
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	1252.896	555.834	505.152
	TOTAL EARNINGS			1252.896	555.834	505.152
	Earnings / (Loss) Per Share (Rs.)			34.18	29.09	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	NA	1.70	1.83
Return on Total Assets (PBT/Total Assets}	(%)	10.06	4.81	3.53
Return on Investment (ROI) (PBT/Networth)		0.17	0.07	0.05
Debt Equity Ratio (Total Debt /Networth)		0.71	0.42	0.28
Current Ratio (Current Asset/Current Liability)		1.96	2.56	3.16

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	14.056	14.056	14.056
Reserves & Surplus	400.866	421.232	473.988
Share Application money pending allotment	0.000	0.000	0.000
Net worth	415.258	435.624	488.380
Long Term borrowings	0.308	0.578	0.964
Short Term borrowings	115.353	183.638	344.018
Total borrowings	115.661	184.216	344.982
Debt/Equity ratio	0.279	0.423	0.706

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	1,080.413	1,228.905	1,601.583
		13.744	30.326

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	1,080.413	1,228.905	1,601.583
Profit	19.581	20.366	52.756
	1.81%	1.66%	3.29%

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	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

LITIGATION DETAILS

Case Details
Bench:- Bombay
Lodging No. :	ARBPL/1264/2012	Failing Date:-	18/09/2012	Reg. No.:	ARBP/67/2013	Reg, Date :	23/01/2013
Petitioner:-	ISJITA COTTON INDUSTRIES LIMITED		Respondent:-	SUMINTER INDIA ORGANICS PRIVATE LIMITED
Petn.Adv:-	N.I. BAKALI (0)
District:-	OUTSIDE MAHARASHTRA
Bench:-	SINGLE		Category:-	ARBITRATION ACT
Status:-	Admitted (unready)		Stage:-	ARBP FOR HEARING AND FINAL DISPOSAL U/S 34
Next Date:-	20/11/2014
Coram:-	HON’BLE SHRI JUSTICE R.D. DHANUKA
Last Date:-	13/11/2014
Last Coram:-	HON’BLE SHRI JUSTICE R.D. DHANUKA
Act. :	Arbitration and Conciliation Act 1996			Under Section :- 34

CORPORATE INFORMATION:

Subject was incorporated on 22nd April 2004, with the objective to procure, process and export various agricultural commodities mainly spices soya, cotton, etc. Company’s operations are spread over in five states, focusing on two product lines namely non-perishable organic foods and organic cotton. Company buys farmers produce at a premium, and then exports the high-quality organic products to the global market. The core activity of the company is to purchase the above mentioned organic agricultural produce from farmers / producers and value added through sterilization and fumigation prior to export to overseas markets.

PERFORMANCE:

During the year the Company reported Sales of Rs.1601.583 Millions in comparison to Rs.1228.905 Millions of previous year. After making necessary provisions for expenses, the company reported net profit of Rs.52.756 Millions in comparison to Rs.20.366 Millions of previous year.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10390108	27/11/2012	739,000.00	Corporation Bank	301-302,The Eagle Flight, Suren Road, Andheri-East, Mumbai, Maharashtra - 400093, India	B63351530
2	10191820	23/11/2009	500,000.00	Corporation Bank	301-302,The Eagle Flight, Suren Road, Andheri-East, Mumbai, Maharashtra - 400093, India	A74942426
3	10188098	02/02/2013 *	450,000,000.00	Corporation Bank	301-302,The Eagle Flight, Suren Road, Andheri-East, Mumbai, Maharashtra - 400093, India	B69079051
4	10030406	28/05/2009 *	50,000,000.00	Corporation Bank	Amboli, Andheri (west), Mumbai, Maharashtra - 400058, India	A65986648
5	90387724	26/07/2005	10,000,000.00	CORPORATION BANK	Andheri West, Mumbai, Maharashtra, India	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.61.68
UK Pound	1	Rs.96.93
Euro	1	Rs.77.36

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAR
Report Prepared by :	VNT

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	5
--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	YES
--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		45

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.