MIRA INFORM REPORT

Report Date :

27.11.2014

IDENTIFICATION DETAILS

Name :	ARIHANT PLANTATIONS PRIVATE LIMITED [w.e.f.10.08.2011]
Formerly Known As :	ARIHANT PLANTATIONS LIMITED [w.e.f.24.09.2010] ARIHANT TEA PLANTATIONS (INDIA) LIMITED
Registered Office :	Victory House, 1, Ganesh Chandra Avenue, Kolkata – 700013, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	31.08.2009
Com. Reg. No.:	21-138090
Capital Investment / Paid-up Capital :	Rs. 55.000 Millions
CIN No.: [Company Identification No.]	U15431WB2009PTC138090
IEC No.:	--
TAN No.: [Tax Deduction & Collection Account No.]	CALA17665E
PAN No.: [Permanent Account No.]	AAKCA0589R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Tea [Tea Plantation].
No. of Employees :	6 (1 in Office and 5 in Factory) (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a company with limited operational history having moderate track record. The company possesses a moderate financial profile marked by accumulated losses resulting into moderation of networth, marginally mitigated by infusion of equity from its promoters and with minimal profitability reported during the year under review. Moreover, the management undertakes modest scale of operations characterised by limited total revenue along with leveraged capital structure and slight working capital intensive operations during FY 14. The ratings also take into consideration, the agro climatic risks due to which the last year’s production suffered and was below the standard production which left the demand unmet. That demand has been carry forwarded this year and therefore prices will remain firm. Usually, production increase causes prices to fall, but due to rise in domestic consumption this has not been the case, hence from which it can be inferred as the business may see a boost. Trade relations seem to be fair. Business is active. Payment terms are reported as slow but correct. In view of gradual improvement in its overall profile along with its mediocre scale of operations, emanating from utilization of its partial capacity, the company can be considered for business dealings with caution.

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 slow 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 willfully 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

NOT AVAILABLE

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. Ajay Nagar
Designation :	Deputy General Manager
Contact No.:	91-9830016664
Date :	22.11.2014

LOCATIONS

Registered Office :	Victory House, 1, Ganesh Chandra Avenue, Kolkata – 700013, West Bengal, India
Tel. No.:	91-33-22254215/ 22310268
Mobile No.:	91-9830016664 [Mr. Ajay Nagar]
Fax No.:	Not Available
E-Mail :	aklabhcs@gmail.com frasercompany1917@gmail.com sect.dept@gmail.com
Location :	Owned
Factory :	Grassmore Tea Estate, P.S. Nagarkatta, District Jalpaiguri, West Bengal, India
Location :	Owned

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Sushil Kumar Gadia

Designation :

Director

Address :

20, Round Tank Lane, Block-A, Flat No.209, Shanti-Niketan, Howrah - 711101, West Bengal, India

Date of Birth/Age :

59 Years

Qualification :

B. Com

Experience :

40 Years

Date of Appointment :

20.10.2014

PAN No.:

ADFPG3615F

Profile :

Mr. Sushil Kumar Gadia is B. Com graduate from Calcutta University by profession joined the Poddar Group in the year 1990 and he rich experience in the domain of Finance and Accounts and Commercial. Mr. Gadia has the overall work experience of 40 years. Mr. Gadia is holding directorship in around 20 companies since last 15 years. Some of the companies are into the major manufacturing business activities of engineering goods.

DIN No.:

00402471

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	U45202WB1994PTC061852	SADASHIVNAGAR PROPERTIES PRIVATE LIMITED	Director	01/09/1995	01/09/1995	-	Active	NO
2	U70101WB1995PLC071939	AASHIRVAD VILLA LIMITED	Director	31/03/1997	31/03/1997	-	Active	NO
3	U70101WB1995PTC073288	NEW AGE TOWERS PRIVATE LIMITED	Director	19/05/1997	19/05/1997	02/09/2008	Active	NO
4	U70101WB1995PTC073285	ROYAL ENCLAVE PRIVATE LIMITED	Director	19/05/1997	19/05/1997	02/09/2008	Active	NO
5	U51909WB1983PLC036281	INIMITABLE PROPERTIES LIMITED	Director	21/06/1997	21/06/1997	-	Active	NO
6	U70101WB1995PTC073832	ASLESHA ENCLAVE PRIVATE LIMITED	Director	21/06/1997	21/06/1997	-	Active	NO
7	U51909WB1983PLC036306	SMART PROMOTERS LIMITED	Director	21/06/1997	21/06/1997	-	Active	NO
8	U70109WB1995PTC073008	MALLESWARAM PROPERTIES PRIVATE LIMITED	Director	21/06/1997	21/06/1997	-	Active	NO
9	U70101WB1995PTC073078	COSMO VILLE AHMEDABAD PROPERTIES PRIVATE LIMITED	Director	21/06/1997	21/06/1997	-	Active	NO
10	U70101WB1995PTC073277	NEW-AGE PLAZA PRIVATE LIMITED	Director	21/06/1997	21/06/1997	02/09/2008	Active	NO
11	U51109WB1983PLC036253	SHIKHA INDIA LIMITED	Director	21/06/1997	21/06/1997	31/05/2014	Active	NO
12	U74999WB1996PTC077078	CLASSIC WHEELS PRIVATE LIMITED	Director	28/06/1997	28/06/1997	04/05/2009	Active	NO
13	U51109WB1996PLC077080	RALLI ENGINEERING LIMITED	Director	28/06/1997	28/06/1997	-	Active	NO
14	U70101WB1995PTC073284	TILAK ROAD PUNE PROPERTIES PRIVATE LIMITED	Director	28/06/1997	28/06/1997	-	Strike off	NO
15	U51109WB1996PTC077055	MANDAKINI MANAGEMENT SERVICES PRIVATE LIMITED	Director	28/06/1997	28/06/1997	-	Active	NO
16	U51109WB1996PTC077075	GODAVARI MULTIPURPOSE ARTICLES PRIVATE LIMITED	Director	28/06/1997	28/06/1997	-	Active	NO
17	U51109WB1996PTC077072	GODAVARI COMMERCIAL SERVICES PRIVATE LIMITED	Director	28/06/1997	28/06/1997	02/09/2008	Active	NO
18	U51909WB1983PLC036280	HOLLY TOWERS LIMITED	Director	08/07/1997	08/07/1997	-	Active	NO
19	U51109WB1996PTC077068	SARASWATI MANAGEMENT SERVICES PRIVATE LIMITED	Director	08/07/1997	08/07/1997	-	Active	NO
20	U67120WB1996PTC077183	MANDAKINI HOLDINGS PRIVATE LIMITED	Director	08/07/1997	08/07/1997	-	Active	NO
21	U45400WB1983PLC036252	KOLKATA PLAZA LIMITED	Director	08/07/1997	08/07/1997	-	Active	NO
22	U51109WB1996PTC077074	KAVERI MANAGEMENT SERVICES PRIVATE LIMITED	Director	08/07/1997	08/07/1997	-	Active	NO
23	U70101WB1995PLC073290	NUTECH TRADERS LIMITED	Director	08/07/1997	08/07/1997	-	Active	NO
24	U51219WB1983PLC036127	RALLIFAN LIMITED	Director	22/09/2003	22/09/2003	-	Active	NO
25	U51909WB1961PLC025035	HEMRAJ MAHABIR PRASAD LIMITED	Director	06/04/2005	06/04/2005	-	Active	NO
26	U65921WB1983PLC036308	UNIQUE ENTERPRENUERS & FINANCE LIMITED	Director	19/04/2005	19/04/2005	-	Active	NO
27	U51909WB1995PLC076017	ELPRO TRADERS LIMITED	Director	02/01/2006	02/01/2006	-	Active	NO
28	U24124WB1994PLC062513	COASTAL FERTILISERS LIMITED	Director	01/03/2006	01/03/2006	29/10/2007	Active	NO
29	U01132WB1919PLC003550	DARJEELING IMPEX LIMITED	Director	01/04/2006	01/04/2006	-	Active	NO
30	U70101WB1995PTC073291	AMODINI ENCLAVE PRIVATE LIMITED	Director	31/12/2006	31/12/2006	-	Active	NO
31	U51109WB2007PTC117496	AKASH VYAPAAR PRIVATE LIMITED	Director	22/09/2007	22/09/2007	-	Active	NO
32	U51109WB2007PTC117498	AMBAR VYAPAAR PRIVATE LIMITED	Director	22/09/2007	22/09/2007	-	Active	NO
33	U52190WB2010PTC146571	ALCOVE TRADING PRIVATE LIMITED	Director	04/05/2010	04/05/2010	-	Active	NO
34	U52190WB2010PTC146570	ARGON TRADING COMPANY PRIVATE LIMITED	Director	04/05/2010	04/05/2010	-	Active	NO
35	U52190WB2010PTC146569	ROWLAND TRADING PRIVATE LIMITED	Director	04/05/2010	04/05/2010	-	Active	NO
36	U52190WB2010PTC146567	MALDIVE TRADING PRIVATE LIMITED	Director	04/05/2010	04/05/2010	-	Active	NO
37	U29253WB2010PTC146572	PODDAR HMP INDUSTRIES PRIVATE LIMITED	Director	04/05/2010	04/05/2010	-	Active	NO
38	U52190WB2010PTC146809	PAILAN TRADING PRIVATE LIMITED	Director	06/05/2010	06/05/2010	-	Active	NO
39	U51109WB1996PTC077970	CHANDANPUR TEA COMPANY PRIVATE LIMITED	Director	14/08/2010	14/08/2010	-	Active	NO
40	U70102WB2010PLC153235	WALDEN INFRA PROJECTS LIMITED	Director	21/09/2010	21/09/2010	-	Active	NO
41	U70102WB2010PTC153234	LAKE TOWN ENCLAVE PRIVATE LIMITED	Director	21/09/2010	21/09/2010	-	Active	NO
42	U31200WB1987PTC042919	NOUVELLE TEA PRIVATE LIMITED	Director	07/03/2011	07/03/2011	16/01/2014	Active	NO
43	U01132WB2005PTC106199	MAYA JUKTA TEA ESTATE PRIVATE LIMITED	Director	30/04/2011	30/04/2011	-	Active	NO
44	U51909WB1995PLC076016	RALLI ENGINE LIMITED	Director	01/11/2011	01/11/2011	-	Active	NO
45	U70102WB2012PTC189436	MOONVIEW INFRAREALTORS PRIVATE LIMITED	Director	17/01/2013	17/01/2013	-	Active	NO
46	U70102WB2012PTC189439	ROYALPET REAL ESTATE PRIVATE LIMITED	Director	17/01/2013	17/01/2013	-	Active	NO
47	U70102WB2013PTC195050	ALMOND INFRA PROJECTS PRIVATE LIMITED	Director	25/06/2013	25/06/2013	-	Active	NO
48	U70102WB2013PTC195049	ALMOND INFRA BUILDCON PRIVATE LIMITED	Director	25/06/2013	25/06/2013	-	Active	NO
49	U70102WB2013PTC195045	ALMOND BUILDWELL PRIVATE LIMITED	Director	25/06/2013	25/06/2013	-	Active	NO
50	U01132WB2007PTC114995	PPS TEA PRIVATE LIMITED	Director	25/07/2013	25/07/2013	27/02/2014	Active	NO
51	U51101WB2013PTC195899	WARISON REALITIES PRIVATE LIMITED	Director	26/07/2013	26/07/2013	-	Active	NO
52	U70102WB2013PTC195898	WARISON INFRA STRUCTURE PRIVATE LIMITED	Director	26/07/2013	26/07/2013	-	Active	NO
53	U70102WB2013PTC193221	ACCOMPLISH REALESTATES PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
54	U70102WB2013PTC192960	MAHAGAURI ENCLOVE PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
55	U70102WB2013PTC193107	DEVADEVA ENCLOVES PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
56	U70102WB2013PLC193545	EMTL SALES & SERVICE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
57	U74900WB2013PTC194350	WISECRACK REAL ESTATES PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
58	U74900WB2013PTC194090	WISECRACK MERCHANDISE PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
59	U74900WB2013PTC194262	SRIKOM TRADECOM PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
60	U70102WB2013PTC194079	SINGHWAHINI DEVELOPERS PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
61	U70102WB2013PTC194072	RANGAMATI REALINFRA PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
62	U70102WB2013PTC194260	GREENDOM INFRASTRUCTURE PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
63	U70102WB2013PTC194067	BRAJBIHARI DEVELOPERS PRIVATE LIMITED	Director	09/09/2013	09/09/2013	-	Active	NO
64	U65999WB1994PTC062260	PAHARGOOMIAH FINANCE PRIVATE LIMITED	Director	30/06/2014	30/06/2014	-	Active	NO
65	U15431WB2009PTC138090	ARIHANT PLANTATIONS PRIVATE LIMITED	Director	20/10/2014	20/10/2014	-	Active	NO
66	U29253WB1983PLC036594	JOREHAUT WORKS LIMITED	Director	01/11/2014	01/11/2014	-	Active	NO
67	U70109WB2012PLC177358	BALLYGUNGE PROPERTIES LIMITED	Director	01/11/2014	01/11/2014	-	Active	NO

Name :

Mr. Suresh Kumar Agarwal

Designation :

Director

Address :

P-21, C.I.T. Scheme, VII M, Kolkata - 700054, West Bengal, India

Date of Birth/Age :

56 Years

Qualification :

B. Com

Experience :

35 Years

Date of Appointment :

20.10.2014

PAN No.:

AFGPA7909H

Profile :

Mr. Suresh Kumar Agarwal is B. Com graduate from Calcutta University by profession joined the Poddar Group in the year 1979. He has rich experience in the Tea Accounts. Mr. Agarwal has the overall work experience of 35 years. Mr. Agarwal is holding directorship in other companies since last 5-7 years. Some of the companies are into the major manufacturing business activities like engineering.

DIN No.:

00487016

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	U01132WB1919PLC003550	DARJEELING IMPEX LIMITED	Director	07/07/2003	07/07/2003	-	Active	NO
2	U51101WB1994PTC062259	NORTH INDIA TEA MARKETING PRIVATE LIMITED	Director	10/04/2007	10/04/2007	-	Active	NO
3	U65999WB1994PTC062260	PAHARGOOMIAH FINANCE PRIVATE LIMITED	Director	17/09/2007	17/09/2007	-	Active	NO
4	U24124WB1994PLC062513	COASTAL FERTILISERS LIMITED	Director	24/10/2007	24/10/2007	-	Active	NO
5	U51219WB1983PLC036127	RALLIFAN LIMITED	Director	10/08/2009	10/08/2009	-	Active	NO
6	U51909WB1919PLC003552	DOOARS EXIM LIMITED	Director	01/09/2009	01/09/2009	-	Active	NO
7	U17299WB1961PLC025179	SUPREME COMMODITIES LIMITED	Director	10/10/2011	10/10/2011	-	Active	NO
8	U70109WB2011PLC169029	WALDEN ESTATES LIMITED	Director	01/11/2011	01/11/2011	01/11/2012	Active	NO
9	U70109WB2011PLC169160	VALSAD PROPERTIES LIMITED	Director	08/11/2011	08/11/2011	-	Active	NO
10	U51909WB1983PLC036280	HOLLY TOWERS LIMITED	Director	30/11/2011	30/11/2011	-	Active	NO
11	U51109WB1993PLC058321	JOLLY MERCHANTS LIMITED	Director	30/11/2011	30/11/2011	-	Active	NO
12	U51109WB1983PLC036253	SHIKHA INDIA LIMITED	Director	02/04/2012	02/04/2012	31/05/2014	Active	NO
13	U51909WB1983PLC036306	SMART PROMOTERS LIMITED	Director	02/04/2012	02/04/2012	-	Active	NO
14	U45400WB1983PLC036252	KOLKATA PLAZA LIMITED	Director	02/04/2012	02/04/2012	-	Active	NO
15	U70102WB2012PTC189439	ROYALPET REAL ESTATE PRIVATE LIMITED	Director	01/03/2013	01/03/2013	-	Active	NO
16	U51109WB1983PLC036232	BHUVNESHWARI INDUSTRIES LIMITED	Additional director	06/05/2013	06/05/2013	-	Active	NO
17	U45400WB1983PLC036231	KONARK PROPERTIES LIMITED	Additional director	06/05/2013	06/05/2013	-	Active	NO
18	U51109WB1996PLC077080	RALLI ENGINEERING LIMITED	Director	06/11/2013	06/11/2013	-	Active	NO
19	U01132WB1975PTC029980	AYLA BARI TEA COMPANY PRIVATE LIMITED	Director	20/10/2014	20/10/2014	-	Active	NO
20	U15431WB2009PTC138090	ARIHANT PLANTATIONS PRIVATE LIMITED	Director	20/10/2014	20/10/2014	-	Active	NO
21	U29120WB2006PLC111968	WOLF ENGINEERING LIMITED	Director	27/10/2014	27/10/2014	-	Active	NO
22	U29253WB1983PLC036594	JOREHAUT WORKS LIMITED	Director	01/11/2014	01/11/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ajay Nagar
Designation :	Deputy General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Equity Shareholders	No. of Shares
Gouri Shankar Agarwal	1
Mousumi Choudhary	1
Anand Vijay Lohia	1
Pradip Kumar Boral	1
BTC Finance Limited	5247
Goldmoon Agencies Private Limited	334740
SVM Impex and Finance Private Limited	202751
Aryavarta Industries Private Limited	2256
Jute and Gunny Broker Private Limited	2501
Surajmal Mohta and Company Private Limited	2501
Mohta Finance and Leasing Company Limited	450000
Bhaskar Educational Society	500000
Bhaskar Tea and Industries Limited	2500000
Total	4000000

Names of Preference Shareholders	No. of Shares
Seabird Trade Link Private Limited, India	30000
Span Commercial Private Limited, India	35000
Glix Securities Private Limited, India	35000
Pratap Singh Surana	25000
Carnex Distributors Private Limited, India	25000
Total	150000

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Tea [Tea Plantation].
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :	--
Terms :
Selling :	Cash [Within 15 days they get the payments]
Purchasing :	Credit [30 Days]

PRODUCTION STATUS

Particulars	Unit	Installed Capacity	Actual Production
Tea Plantation	Kgs	1480000	996000

GENERAL INFORMATION

Suppliers :

Reference:	Goyal Sales Agency
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Experience:	Not Divulged
Maximum limit dealt:	Not Divulged

Reference:	Kayencee Cereals Private Limited
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Experience:	Not Divulged
Maximum limit dealt:	Not Divulged

· Kurseong Carriers Private Limited

Subir Paul

Nutech Bearing Private Limited

Customers :

End Users

Reference:	Contemporary Brokers Private Limited
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Experience:	Not Divulged
Maximum limit dealt:	Not Divulged

Reference:	Desai and Sons
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Experience:	Not Divulged
Maximum limit dealt:	Not Divulged

· J. Thomas and Company

Paramount Tea Marketing Private Limited

Tea Connoisseurs

No. of Employees :

6 (1 in Office and 5 in Factory) (Approximately)

Bankers :

Bank Name:	Bank of Baroda
Branch:	Brabourne Road Branch, Kolkata - 700001, West Bengal, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Arihant Plantations Private Limited
Account Number:	00260200001379
Account Since (Date/ Year of A/c Opening):	31.03.2011
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Nil
Account Operation:	Satisfactory
Remarks: As claimed by Bank Management, the subject having satisfactory track record for Banking transactions.

Facilities :

--

Auditors :
Name :	Sujit Maulik and Company Chartered Accountants
Address :	136, Banerjee Para Road, Kolkata – 700041, West Bengal, India
Tel. No.:	91-33-24027109
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
4,000,000	Equity Shares	Rs. 10/- each	Rs. 40.000 Millions
150,000	Preference Shares	Rs. 100/- each	Rs. 15.000 Millions
	Total		Rs. 55.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4,000,000	Equity Shares	Rs. 10/- each	Rs. 40.000 Millions
150,000	Preference Shares	Rs. 100/- each	Rs. 15.000 Millions
	Total		Rs. 55.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	55.000	50.000	0.500
(b) Reserves & Surplus	(32.254)	(33.318)	(0.269)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	9.500
Total Shareholders’ Funds (1) + (2)	22.746	16.682	9.731
(3) Non-Current Liabilities
(a) Long-term borrowings	137.422	126.695	0.000
(b) Deferred tax liabilities (Net)	32.742	25.080	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	170.164	151.775	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	10.736	11.926	0.000
(c) Other current liabilities	13.263	8.425	0.014
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	23.999	20.351	0.014
TOTAL	216.909	188.808	9.745
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	183.976	163.235	0.000
(ii) Intangible Assets	0.000	0.000	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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	183.976	163.235	0.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	17.468	9.093	0.000
(c) Trade receivables	7.144	10.410	0.000
(d) Cash and cash equivalents	4.358	1.839	9.505
(e) Short-term loans and advances	3.963	4.231	0.240
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	32.933	25.573	9.745
TOTAL	216.909	188.808	9.745

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	57.492	59.934	0.000
		Other Income	0.379	0.180	0.000
		TOTAL (A)	57.871	60.114	0.000
Less	EXPENSES
		Purchases of Stock-in-Trade	0.000	19.584	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(14.427)	(3.040)	0.000
		Employees benefits expense	44.091	43.179	0.000
		Other expenses	22.582	19.865	0.057
		TOTAL (B)	52.246	79.588	0.057
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5.625	(19.474)	(0.057)
Less	FINANCIAL EXPENSES (D)		0.602	0.491	0.000
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.023	(19.965)	(0.057)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.962	4.522	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		1.061	(24.487)	(0.057)
Less	TAX (H)		(0.003)	0.009	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		1.064	(24.496)	(0.057)
	Earnings/ (Loss) Per Share (Rs.)		0.27	(6.12)	(1.15)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.85	(40.87)	0.00
Operating Profit Margin (PBDIT/Sales)	(%)	9.78	(32.49)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.49	(12.97)	(0.58)
Return on Investment (ROI) (PBT/Networth)		0.05	(1.47)	(0.01)
Debt Equity Ratio (Total Debt/Networth)		6.04	7.59	0.00
Current Ratio (Current Asset/Current Liability)		1.37	1.26	696.07

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.500	50.000	55.000
Reserves & Surplus	(0.269)	(33.318)	(32.254)
Share Application money pending allotment	9.500	0.000	0.000
Net worth	9.731	16.682	22.746
Long-term borrowings	0.000	126.695	137.422
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	126.695	137.422
Debt/Equity ratio	0.000	7.595	6.042

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	0.000	59.934	57.492
			(4.074)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	0.000	59.934	57.492
Profit/ (Loss)	(0.057)	(24.496)	1.064
		(40.87%)	1.85%

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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
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	Yes
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

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

UNSECURED LOANS

(RS. IN MILLIONS)

PARTICULARS	31.03.2014	31.03.2013
LONG-TERM BORROWINGS
From Bodies Corporate	137.422	126.695
Total	137.422	126.695

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

CALCULATION OF DEBT SERVICE COVERAGE RATIO

(RS. IN MILLIONS)

PARTICULARS	31.03.2015 PROJECTED	31.03.2016 PROJECTED
Net Profit after Tax	11.052	14.893
Add: Depreciation	3.445	3.000
Add: Interest on Term Loan	5.625	10.898
TOTAL [A]	20.122	28.791
Installment of Term Loan	0.000	7.500
Add: Interest on Term Loan	5.625	10.898
TOTAL [B]	5.625	18.398
DSCR	3.58	1.56
Average DSCR	--

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

ARIHANT PLANTATIONS PRIVATE LIMITED

PROJECTED BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS	31.03.2015 PROJECTED	31.03.2016 PROJECTED
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	55.000	55.000
(b) Reserves & Surplus	(21.202)	(6.309)
(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)	33.798	48.691
(3) Non-Current Liabilities
(a) Long-term borrowings	137.422	137.422
(b) Deferred tax liabilities (Net)	30.741	25.001
(c) Other long term liabilities	7.282	13.222
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	175.445	175.645
(4) Current Liabilities
(a) Short term borrowings	40.000	40.000
(b) Trade payables	7.150	10.788
(c) Other current liabilities	0.000	0.000
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	47.150	50.788
TOTAL	256.393	275.124
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	184.030	185.361
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(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	184.030	185.361
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	27.761	34.462
(c) Trade receivables	35.000	45.600
(d) Cash and cash equivalents	0.102	0.201
(e) Short-term loans and advances	9.500	9.500
(f) Other current assets	0.000	0.000
Total Current Assets	72.363	89.763
TOTAL	256.393	275.124

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

ARIHANT PLANTATIONS PRIVATE LIMITED

PROJECTED PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2015 PROJECTED	31.03.2016 PROJECTED
	SALES
		Revenue from Operations	112.000	140.250
		Other Income	0.200	0.200
		TOTAL	112.200	140.450
Less	EXPENSES
		Purchases of Stock-in-Trade	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(9.075)	(5.900)
		Employees benefits expense	60.900	66.990
		Other expenses	36.787	44.275
		TOTAL	88.612	105.365
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		23.588	35.085
Less	FINANCIAL EXPENSES		8.125	15.898
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		15.463	19.187
Less/ Add	DEPRECIATION/ AMORTISATION		3.445	3.000
	PROFIT/ (LOSS) BEFORE TAX		12.018	16.187
Less	TAX		0.966	1.294
	PROFIT/ (LOSS) AFTER TAX		11.052	14.893

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

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which the valuation is made

For assessment of present fair market value of the property.

Date of Inspection

16.09.2014

Date as on which valuation is made

23.09.2014

List of documents produced for perusal

Xerox copy of Deed of Indenture dated 24.12.2013 for leasehold land.

Name of the Lessee [s] and his / their address with phone no. [details of share of each owner in case of joint ownership]

ARIHANT PLANTATIONS PRIVATE LIMITED

2, Biplabi Trailokya Maharoj Sarani, 2^nd Floor, Kolkata – 700001.

Mobile No.: 91-9434065645/ 9434736448

Brief description of the property

Leasehold land for 30 years from 13.03.2004, factory structures, godowns, Manager’s Bungalows, hospital, office building etc.

Location of property

Plot No. / Survey No.

As per Total abstract of the entire property

Door No.

--

T.S. No. / Village

Mouza – Grassmore, Cha Bagan, P.S. Nagrakata.

Ward / Taluka

Nagrakata

Mandal / District

Nagrakata / Jalpaiguri

Postal address of the property

Arihant Plantations, Grassmore Tea Estate Private Limited, P.O. Nagrakata, District Jalpaiguri - 735225

City / Town

Jalpaiguri

Residential Area

Tea Garden

Commercial Area

--

Industrial Area

Industrial Area

Classification of the area

- High / Middle / Poor

Middle Class

- Urban / Semi Urban / Rural

Rural

Coming under corporation limit / Village Panchayat / Municipality

Under Village Panchayat

Whether covered under any State / Central Government enactments [e.g. Urban Land Ceiling Act] or notified under agency area / scheduled area / cantonment area

No

In case it is an agricultural land, any conversion to house site plots is contemplated

Not applicable

Boundaries of the property

- North

Ghaba T.E. and Looksan T.E.

- South

Land of P.C.M. Tea Garden and Khatal Jhora Tea Garden and others.

- East

Kuchi Dina River

- West

Ghatia River

Dimension of the site

- North

- South

- East

- West

As per the deed	Actuals
--	--
--	--
--	--
--	--

Extent of the site

Leasehold land = 1893.45 Acres

Planted Area = 556.32

Hectares = 1374.66 Acres

Extent of the site considered for valuation [least of 14a and 14b]

Leasehold land is not valued here. Tea Plantations, Factory other structures are only valued.

Whether occupied by the owner / tenant? If occupied by tenant since how long? rent received per month

Under the possession of Lessee

CHARACTERISTICS OF THE SITE

Classification of locality

Tea Garden

Development of surrounding area

Well-developed area.

Possibility of frequent flooding/ submerging

Nil

Feasibility to the Civic amenities like School, Hospital , Bus Stop, Market etc.

At nearby distance

Level of land with topographical conditions

Leveled and natural

Shape of land

Irregular

Type of use to which it can be put

Tea Plantation and factory

Any usage restriction

No

Is plot in town planning approved layout?

No

Corner plot or intermittent plot?

Intermittent Plot

Road facilities

Available

Type of road available at present

Pitched road [State Highway]

Width of road

More than 20’-0” wide road

Is it a Land – Locked land?

No

Water Potentially

Available

Underground sewerage system

Available

Power supply is available in the site

Available

Advantages of the site

- Well developed

- Adjacent to State Highway

General remarks, if any like threat od acquisition of land for public service purposes, road widening or applicability of CRZ provisions etc. [distance from the sea coast / tidal level must be incorporated]

Nil

PART - A

VALUATION OF LAND

Size of plot [planted area]

556.32 Hectare

North and South

--

East and West

--

Total extent of the plot

766.26 Hectare

Prevailing market rate in the locality is

For valuation please refer Annexures

Guideline rate obtained from the Registrar’s Office [an evidence thereof to be enclosed]

Land is not valued here

Assessed / adopted rate of valuation for land

Not value here because land is leasehold.

Estimated value of land

Not value here because land is leasehold.

PART - B

TECHNICAL DETAILS

Type of building [Residential / Commercial / Industrial]

Detailed in several Annexures II, III and IV

Type of construction [Load bearing / RCC / Steel Framed]

Detailed in several Annexures II, III and IV

Year of construction

More than 50 years

Number of floors and height of each floor including basement, if any

Please refer Annexures

Plinth area floor-wise

Please refer Annexures

Condition of the building

Normal

Exterior – Excellent, Good, Normal, Poor

Normal

Specifications of construction [floor-wise] in respect of

SR. NO.	DESCRIPTION	GROUND FLOOR	OTHER FLOORS
1	Foundation	Columns and foundation	--
2	Basement	--	--
3	Superstructure	RCC framed and brick walls	--
4	Joinery / Doors and windows [Please furnish details about size of frames, shutters, glazing, fitting etc. and specify the species of timber]	Wooden doors and windows	--
5	RCC Works	Columns, beams lintels and slab	--
6	Plastering	All surfaces	--
7	Flooring, Skirting, dadoing	Wooden floor and cement concrete	--
8	Special finish as marble, granite, wooden, paneling, grills etc.	--	--
9	Roofing including weather proof course	G.C.I. sheets	--
10	Drainage	--	--

Compound Wall

- Height

7’-0”

- Length

2600’-0”

- Type of construction

Brick walls with plastered surfaces

Electrical Installation

- Type of wiring

Surface

- Class of fittings [Superior/ Ordinary/ Poor]

Ordinary

- Number of light points

Adequate

- Fan points

Adequate

- Spare plug points

Adequate

- Any other item

--

Plumbing Installation

- No. of water closets and their type

Adequate

- No. of wash basins

Adequate

- No. of urinals

--

- No. of bath tubs

--

- Water meters, taps etc.

--

- Any other fixtures

--

Sr. No.	Particulars of Items	Plinth area in Sq. ft.	Roof height in ft.	Age of Building in years	Estimated replacement rate of construction	Replacement cost	Depreciation	Net value after depreciation
1	Ground Floor	Detailed	In	Attached	Annexures	II, III and IV	--	--

TOTAL ABSTRACT OF THE ENTIRE PROPERTY

SR. NO.	PARTICULARS	AMOUNT IN MILLIONS
Part - A	Land	--
Part - B	Buildings [Factory structures etc.]	26.435
Part - C	Manager’s Bungalows, staff quarters, Labour quarters etc.	40.920
Part - D	Tea bushes etc.	138.041
Part - E	Miscellaneous	--
Part - F	Services	--
Part - G	Total	205.396

The Present market value of the above property in the prevailing condition with aforesaid specifications is Rs. 205.396 Millions.

The distress value is Rs. 174.587 Millions.

ANNEXURE - II

VALUATION OF FACTORY STRUCTURES OF GRASSMORE TEA GARDEN, P.O. NAGRAKATA, DISTRICT JALPAIGURI

PARTICULARS	AMOUNT IN MILLIONS
I. Office Building: Plinth Area = 2000.00 Sq. ft. The building is of R.C.C. columns, brick walls / hollow block walls, A.C. sheet roof fixed on M.S. Angle Iron Trusses, false ceiling etc. Doors and windows are of glazed type fitted on wooden frames. Present value of the building after deducting depreciation in cost in more than 50 years for 2000.00 Sq. ft. @ Rs. 500.00 per Sq. ft.	1.000
II. Engine Room: Plinth area = 1599.75 Sq. ft. @ Rs. 400.00 per Sq. ft.	0.640
III. Drying Section: Plinth area = 2639.90 Sq. ft. This structure is of brick walls in between M.S. steel columns, M.S. glazed windows and plastered surfaces. The height of the building 23’-0” at eaves level. The roof is of G.C.I. sheets fixed on M.S. Angle Iron Trusses. The doors are of M.S. Rolling shutter type. The floor is of cement concrete. All machine foundations are of cement with reinforcement etc. Present fair market value after deducting 50% depreciation in cost being old structure i.e.2639.90 Sq. ft. @ Rs. 450.00 per Sq. ft.	1.188
IV. CTC Room: Plinth area = 3555.00 Sq. ft. The specification of construction is same as of [III] above. Hence the present fair market value after deducting 50% depreciation in cost being old structure 3555.00 Sq. ft. @ Rs. 400.00 per Sq. ft.	1.422
V. Fermenting Section, Main Factory buildings etc. Plinth area = 20215.00 Sq. ft. Present fair market value of 20215 Sq. ft. @ Rs. 400.00 per Sq. ft.	8.060
VI. Workshop Plinth area = 610.00 Sq. ft. Present depreciated value of 610.00 Sq. ft. @ Rs. 300.00 per Sq. ft.	0.183
VII. Loading Shed/ Unloading Shed Plinth area = 2400.00 Sq. ft. with open sides on two sides. Its present fair market value after deducting depreciation in cost for 2400.00 Sq. ft. @ Rs. 200.00 per Sq. ft.	0.480
VIII. Trough House Three storied structures with troughs. Plinth area of three storied structure = 17286.00 Sq. ft. Thus the present depreciated value of 17286.00 Sq. ft. @ Rs. 500.00 per Sq. ft. including the cost of troughs	8.643
XI. Deep tube well sets [6 Nos.]	1.800
X. Boundary Wall Around factory portion. Total length = 2600.00 rft. of brick walls, 7’-0” height @ Rs. 400.00 per rft. [depreciated rate] M.S. Gates	1.040 0.040
XI. Godowns 2 x 3926.00 Sq. ft. = 7852.00 Sq. ft. @ Rs. 200.00 per Sq. ft. Depreciated rate	1.570
XII. Chimney with foundations	0.343

ABSTRACT OF FAIR MARKET VALUE OF FACTORY STRUCTURES ETC.

SR. NO.	PARTICULARS	AMOUNT IN MILLIONS
1	Office Building	1.000
2	Engine Room	0.640
3	Drying Section	1.188
4	CTC Room	1.422
5	Fermenting section, sorting section and main factory building	8.086
6	Work shop	0.183
7	Loading and Unloading shed	0.480
8	Trough house including troughs	8.643
9	Deep tube wells set [6 Nos.]	1.800
10	Boundary wall with M.S. gates	1.080
11	Godowns	1.570
12	Chimney with foundation	0.343
	Total	26.435

ANNEXURE - III

VALUATION OF MANAGER BUNGALOW, GUEST HOUSE, MANAGERS BUNGALOWS, ASSTT. MANAGERS BUNGALOWS, STAFF QUARTERS AND LABOUR QUARTERS

PARTICULARS

AMOUNT IN MILLIONS

1. Guest House

Plinth area = 3500.00 Sq. ft.

The building is R.C.C. Columns, brick walls in cement mortar, G.C.I. sheet roof and cement concrete floors. The doors are of wooden paneled and the windows are of wooden glazed. Mosquito proof shutters and false ceiling are provided.

Present fair market value of the structure with 3500.00 Sq. ft. area @ Rs. 500.00 per Sq. ft. depreciated rate

1.750

2. Manager’s Bungalow

With the similar specification of construction as that of above item No. [1.00]

Plinth area = 4000.00 Sq. ft.

Present fair market value of 4000.00 Sq. ft.@ depreciated rate of Rs. 500.00 per Sq. ft.

2.000

3. Asstt. Manager’s Bungalow – 6 Nos.

Single Unit 7 Nos. with sheet roof – 6 x 1500.00 Sq. ft.

Present fair market value @ Rs. 500.00 per Sq. ft. [Depreciated rate]

4.500

4. Hospital Building

With same specification of construction as that of above [1]

Plinth area = 2500.00 Sq. ft.

Present fair market value @ Rs. 500.00 per Sq. ft. depreciated rate

1.250

5. Staff Quarters [Single Unit]

16 Nos. with G.C.I. sheet roof

Plinth area = 16 x 1150.00 Sq. ft. = 18400.00 Sq. ft.

Present fair market value after deducting deprecation rate @ Rs. 400.00 per Sq. ft.

7.360

6. Labour Quarters [Single Unit]

With G.C.I. sheets roofing brick walls etc. – 300 Nos. of 600.00 Sq. ft. each	180000.00 Sq. ft.
With sheets roofing brick walls etc. – 502 Nos. of 600.00 Sq. ft.	301200.00 Sq. ft.
Total Area	481200 Sq. ft.

Present fair market value @ Rs. 50.00 per Sq. ft. depreciated rate

24.060

Total

40.920

ANNEXURE - IV

(A) Valuation of Tea Bushes [Fully Grown] Total Tea planted area = 556.32 Hectares Number of Tea bushes per hectare = 12350.00 Total numbers of tea bushes in 556.32 Hectares = 6870552.00 Present cost of tea bushes 6870552.00 Nos. @ Rs. 20.00 per Bush	137.411
(B) Nursery – Tea Bushes – 210000.00 Nos. The value of tea bushes @ Rs. 3.00 each	0.630
Total	138.041

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

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

COMPANY PROFILE

Subject was incorporated in August 2009. Arihant Plantations owns the Tea Garden in the name of Grassmore Tea Estate. The Tea estate was previously owned by Mohta group. The Tea estate is into the existence for the last 40 years and was consistent in producing fine quality Tea for the last so many years. Arihant plantations own the Tea Garden area of 766.25 Hectares.

FIXED ASSETS:

· Goodwill

Land

Plantations

Air Conditioner

Building

Plant and Machinery

Vehicle

Computer

Furniture and Fixture

Road

Electrical Equipment

Office Equipment

Irrigation Equipment

Tubewell

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. 61.87
UK Pound	1	Rs. 97.23
Euro	1	Rs. 77.21

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUB
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.