MIRA INFORM REPORT

Report No. :	314794
Report Date :	01.04.2015

IDENTIFICATION DETAILS

Name :	SEBACIC INDIA LIMITED (w.e.f. 16.01.2008)
Formerly Known As :	SEBACIC MFG. AND EXPO INDIA LIMITED
Registered Office :	301, World Trade Centre, Sayajigunj, Vadodara – 390005, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.09.2007
Com. Reg. No.:	04-051697
Capital Investment / Paid-up Capital :	Rs.345.000 Million
CIN No.: [Company Identification No.]	U24100GJ2007PLC051697
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	BRDS06497B
PAN No.: [Permanent Account No.]	AALCS5170P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Sebacic Acid.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ca (16)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating constrained on account of company’s weak operational risk profile and delays in servicing of debt obligations due to strained liquidity position. Business is active. Payments are reported to be slow. The company can be considered for business dealings on safe and secured 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 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term Loan = D
Rating Explanation	Lowest credit quality and very low prospects of recovery.
Date	October 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. Yogesh Pujara
Designation :	General Manager (Finance)
Contact No.:	91-265-2225677
Date :	30.03.2015

LOCATIONS

Registered Office :	301, World Trade Centre, Sayajigunj, Vadodara – 390005, Gujarat, India
Tel. No.:	91-265-2225677 / 2225699
Fax No.:	91-265-2226153
E-Mail :	yogeshpujara@sebacicindia.com info@sebacicindia.com
Website :	http://www.sebacicindia.com
Factory :	At and Post - Village Umraya, Taluka Padra, District Vadodara – 391440, Gujarat, India
E-Mail :	project@sebacicindia.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Yogesh Sumanlal Pujara

Designation :

Director

Address :

2, Kathiawad Buildings, Opposite Kalyan Hall, Sama Road Vadodara - 390008, Gujarat, India

Date of Birth/Age :

30.09.2014

Date of Appointment :

06.09.1654

DIN No.:

00219821

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	U51100GJ1995PLC025891	ADITYA EXIM LIMITED	Director	01/12/2005	01/12/2005	15/05/2010	Active	NO
2	U52600GJ1997PLC032761	VRD EXIM LIMITED	Director	30/09/2010	30/06/2010	30/03/2015	Active	NO
3	U24100GJ2007PLC051697	SEBACIC INDIA LIMITED	Director	30/09/2014	21/08/2014	-	Active	NO

Name :

Mr. Mihirkumar Arvindbhai Joshi

Designation :

Director

Address :

37.A, Vrajraj Co Op Hsg. Soc, Gala Gymkhana Road, Bopal, Ahmedabad - 380058, Gujarat, India

Date of Birth/Age :

12.06.1977

Qualification :

Graduate

Date of Appointment :

30.09.2011

DIN No.:

00823615

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	U72200GJ2006PTC048130	RAPIDRADIO SOLUTIONS PRIVATE LIMITED	Additional director	22/08/2007	22/08/2007	11/03/2013	Active	NO
2	L99999GJ1987PLC009768	20 MICRONS LIMITED	Nominee director	27/08/2009	23/08/2007	22/10/2011	Active	NO
3	U32105GJ2004PLC044611	PEGASUS SEMICONDUCTOR LIMITED	Nominee director	20/04/2009	20/04/2009	05/05/2012	Active	NO
4	U51496GJ1997PLC032100	AURA HERBAL TEXTILES LIMITED	Nominee director	29/07/2009	29/07/2009	05/05/2012	Active	NO
5	U24239GJ2008PLC053030	AMRITA THERAPEUTICS LIMITED	Nominee director	31/07/2009	31/07/2009	-	Active	NO
6	U15310GJ2000PLC037566	NET4NUTS LIMITED	Nominee director	31/07/2009	31/07/2009	30/06/2012	Active	NO
7	U24230GJ1989PLC013000	CENTURY PHARMACEUTICALS LIMITED	Nominee director	31/07/2009	31/07/2009	05/05/2012	Active	NO
8	U30000GJ2000PLC038530	E CUBE INDIA SOLUTIONS LIMITED	Nominee director	31/07/2009	31/07/2009	-	Active	NO
9	U30007GJ2002PLC040659	SAHAJANAND LASER TECHNOLOGY LIMITED	Nominee director	19/08/2009	19/08/2009	-	Active	NO
10	U72200GJ1988PLC010830	e-INFOCHIPS LIMITED	Nominee director	03/11/2009	03/11/2009	-	Active	NO
11	U09211KA2004PTC034212	i-Nurture Education Solutions Private Limited	Nominee director	04/01/2010	04/01/2010	-	Active	NO
12	U72200KA2007PTC042335	Fairtech Engineering Services Private Limited	Nominee director	30/09/2010	22/01/2010	-	Active	NO
13	U74990GJ2000PTC037367	GVFL TRUSTEE COMPANY PRIVATE LIMITED	Director	15/07/2011	19/11/2010	26/04/2013	Active	NO
14	U72900GJ2007PTC050603	MANTIS TECHNOLOGIES PRIVATE LIMITED	Nominee director	01/04/2011	01/04/2011	-	Active	NO
15	U24100GJ2007PLC051697	SEBACIC INDIA LIMITED	Director	30/09/2011	31/07/2011	-	Active	NO
16	U73200GJ2011NPL068356	DA-IICT CENTRE FOR ENTREPRENEURSHIP AND INCUBATION	Director	23/12/2011	23/12/2011	-	Active	NO

Name :

Mr. Tushar Raojibhai Patel

Designation :

Director

Address :

8, Dayna Lane Lawrenceville, New Jersey, 006431583, United States Of America

Date of Birth/Age :

30.04.1961

Qualification :

B. E (Mechanical)

Date of Appointment :

11.09.2008

DIN No.:

01271991

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	U52600GJ1997PLC032761	VRD EXIM LIMITED	Additional director	15/03/2007	15/03/2007	22/01/2009	Active	NO
2	U24231GJ1995PLC027823	CRYSTAL CASCHEM INDIA LIMITED	Director	01/06/2007	01/06/2007	01/08/2012	Active	NO
3	U24100GJ2007PLC051697	SEBACIC INDIA LIMITED	Director	11/09/2008	10/09/2007	-	Active	NO
4	L36999GJ1991PLC016625	KEMROCK INDUSTRIES AND EXPORTS LIMITED	Director	30/10/2007	01/10/2007	12/04/2013	Active	NO

Name :

Mr. Pankaj Natwarlal Pandya

Designation :

Director

Address :

11 Budh Dev Colony Karelibaug, Vadodara - 390018, Gujarat, India

Date of Birth/Age :

13.05.1952

Qualification :

B. E (Mechanical)

Date of Appointment :

11.09.2008

PAN No.:

AAPPP7128P

DIN No.:

01686991

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	U52600GJ1997PLC032761	VRD EXIM LIMITED	Director	25/02/2011	14/12/2002	23/03/2013	Active	NO
2	U24100GJ2007PLC051697	SEBACIC INDIA LIMITED	Director	11/09/2008	10/09/2007	-	Active	NO

Name :

Mr. Ravi Ghanshyamdas Lekhrajani

Designation :

Nominee Director

Address :

Flat No. 51, 5th Floor, Juhu Gaurav JVPD Scheme, Gulmohar Cross Road No. 11, Juhu Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

26.11.1969

Date of Appointment :

07.02.2014

DIN No.:

01759409

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	U74140GJ2004PTC044853	GRIN BPO SERVICES PRIVATE LIMITED	Director	04/10/2004	04/10/2004	20/03/2012	Active	NO
2	U34300PN1985PTC035877	INDO SCHOTTLE AUTO PARTS PRIVATE LIMITED	Nominee director	28/11/2005	28/11/2005	13/08/2008	Active	NO
3	U24110MH1991PTC063399	PHTHALO COLOURS AND CHEMICALS (INDIA) LIMITED	Nominee director	23/07/2007	23/07/2007	-	Active	NO
4	U60100WB2004PTC100396	VENKATESH LOGISTICS PRIVATE LIMITED	Nominee director	01/12/2008	01/12/2008	-	Active	NO
5	U21093PN2004PLC018983	BILTUBE INDUSTRIES LIMITED	Nominee director	09/11/2009	09/11/2009	-	Active	NO
6	U26941AP2007PLC053611	BHAVYA CEMENTS LIMITED	Nominee director	08/12/2009	08/12/2009	-	Active	NO
7	U67190MH2010PTC202800	WIP (INDIA) PRIVATE LIMITED	Director	31/10/2011	07/05/2010	-	Active	NO
8	U74999MH1955PLC009593	S H KELKAR AND COMPANY Limited	Director	04/09/2010	27/08/2010	08/08/2012	Active	NO
9	U99999MH1990PLC056461	TOPACK FITTINGS LIMITED	Director	08/06/2011	08/06/2011	-	Active	NO
10	U27100MH2005PTC153462	TEKNO STEELS AND FORGINGS PRIVATE LIMITED	Director	08/06/2011	08/06/2011	-	Active	NO
11	L74210WB1981PLC034281	RAMKRISHNA FORGINGS LIMITED	Nominee director	20/07/2013	03/04/2013	15/01/2015	Active	NO
12	U24100GJ2007PLC051697	SEBACIC INDIA LIMITED	Nominee director	07/02/2014	07/02/2014	-	Active	NO
1	U74140GJ2004PTC044853	GRIN BPO SERVICES PRIVATE LIMITED	Director	04/10/2004	04/10/2004	20/03/2012	Active	NO

Name :

Mr. Ashwin Bhogilal Patel

Designation :

Director

Address :

11, Barley Ct Plainsboro, NJ, 08536, United States Of America

Date of Birth/Age :

25.08.1959

Date of Appointment :

11.09.2008

DIN No.:

01877191

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	U52600GJ1997PLC032761	VRD EXIM LIMITED	Additional director	15/03/2007	15/03/2007	22/01/2009	Active	NO
2	U24100GJ2007PLC051697	SEBACIC INDIA LIMITED	Director	11/09/2008	10/09/2007	-	Active	NO

Name :

Mr. Sanjivkumar Govindlal Parikh

Designation :

Director

Address :

27, Punit Nagar Soc Aditya Appts, Peril House, Old Padra Road, Vadodara - 390015, Gujarat, India

Date of Birth/Age :

10.05.1963

Date of Appointment :

11.09.2008

DIN No.:

02140634

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	U24100GJ2007PLC051697	SEBACIC INDIA LIMITED	Director	11/09/2008	29/05/2008	-	Active	NO

Name :

Mr. Arvind Modi

Designation :

Nominee Director

Address :

M.S Kisan Kiran 150 Bapu Marg Sadar Bazar Champa Janjgir - 495671, Chhattisgarh, India

Date of Birth/Age :

07.09.1980

Date of Appointment :

29.06.2012

DIN No.:

05277660

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	U24230GJ1989PLC013000	CENTURY PHARMACEUTICALS LIMITED	Nominee director	05/05/2012	05/05/2012	-	Active	NO
2	U51496GJ1997PLC032100	AURA HERBAL TEXTILES LIMITED	Nominee director	05/05/2012	05/05/2012	-	Active	NO
3	U24100GJ2007PLC051697	SEBACIC INDIA LIMITED	Nominee director	29/06/2012	29/06/2012	-	Active	NO
4	U73100GJ2008PTC053905	AXIO BIOSOLUTIONS PRIVATE LIMITED	Additional director	09/07/2012	09/07/2012	-	Active	NO
5	U29294DL2007PTC163078	Alfa Corpuscles Private Limited	Nominee director	27/11/2012	27/11/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Yogesh Pujara
Designation :	General Manager (Finance)

MAJOR SHAREHOLDERS

As on 30.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

As on 24.02.2015

Names of Allottees	No. of Shares
GVFL Trustee Company Private Limited, India	4000000
Total	4000000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Venture Capital	26.12
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	54.83
Bodies corporate	4.61
Directors or relatives of Directors	14.44
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Sebacic Acid.
Products :	Sebacic Acid
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

No. of Employees :

Information denied by management

Bankers :

Banker Name	State Bank of India
Branch Address	Mid Corporate Group, Commercial Branch, 3rd Floor, Paramsiddhi Complex, Ellisbridge, Ahmedabad - 380006, Gujarat, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Rupee term loans from banks	385.999	385.577
Loans taken for vehicles	0.160	0.637
SHORT TERM BORROWINGS
Working capital loans from banks	26.498	49.619
Total	412.657	435.833

Auditors :
Name :	Mukund and Rohit Chartered Accountants
Address :	No.8, 2nd Floor, Avishkar, Old Padra Road, Vadodara, Gujarat, India
PAN No.:	AACFM4355J
Memberships :	--
Collaborators :	--
Associate :	VRD Exim Limited CIN No.: U52600GJ1997PLC032761

CAPITAL STRUCTURE

After 31.03.2014

Authorised Capital : Rs.488.000 Million

Issued, Subscribed & Paid-up Capital : Rs.447.717 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
32550000	Equity Shares	Rs.10/- each	Rs.325.500 Million
11000000	Preference Shares	Rs.10/- each	Rs.110.000 Million
	Total		Rs.435.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30500000	Equity Shares	Rs.10/- each	Rs.305.000 Million
4000000	Preference Shares	Rs.10/- each	Rs.40.000 Million
	Total		Rs.345.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	345.000	260.000	186.125
(b) Reserves & Surplus	(185.144)	(11.105)	(10.388)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	159.856	248.895	175.737
(3) Non-Current Liabilities
(a) long-term borrowings	431.648	428.356	283.600
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	11.537	0.000
(d) long-term provisions	0.370	0.193	0.084
Total Non-current Liabilities (3)	432.018	440.086	283.684
(4) Current Liabilities
(a) Short term borrowings	55.131	66.150	0.000
(b) Trade payables	10.562	9.848	0.000
(c) Other current liabilities	43.523	10.988	155.612
(d) Short-term provisions	0.000	0.000	0.593
Total Current Liabilities (4)	109.216	86.986	156.205
TOTAL	701.090	775.967	615.626
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	568.720	17.720	17.505
(ii) Intangible Assets	14.970	18.712	3.712
(iii) Capital work-in-progress	0.000	500.391	398.802
(iv) Intangible assets under development	0.000	116.736	31.166
(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	63.571	73.650	74.921
(e) Other Non-current assets	3.213	2.692	5.484
Total Non-Current Assets	650.474	729.901	531.590
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	36.987	42.592	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	11.961	1.684	18.550
(e) Short-term loans and advances	1.668	1.626	1.735
(f) Other current assets	0.000	0.164	63.751
Total Current Assets	50.616	46.066	84.036
TOTAL	701.090	775.967	615.626

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	36.140	0.000	0.000
		Other Income	3.041	0.000	0.001
		TOTAL (A)	39.181	0.000	0.001
Less	EXPENSES
		Cost of Materials Consumed	24.768	0.000	0.000
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	10.495	0.000	0.000
		Employee Benefits Expenses	16.408	0.000	0.000
		Other Expenses	17.439	0.629	0.990
		Prior Period Items	0.003	0.001	0.000
		TOTAL (B)	69.113	0.630	0.990
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(29.932)	(0.630)	(0.989)
Less	FINANCIAL EXPENSES (D)		70.471	0.087	0.050
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(100.403)	(0.717)	(1.039)
Less	DEPRECIATION/ AMORTISATION (F)		88.637	0.000	0.000
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		(189.040)	(0.717)	(1.039)
Less	TAX (H)		0.000	0.000	0.135
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		(189.040)	(0.717)	(1.174)
	Earnings / (Loss) Per Share (Rs.)		(5.48)	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(523.08)	0.00	0.00
Operating Profit Margin (PBDIT/Sales)	(%)	(82.82)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(26.96)	(0.45)	(0.56)
Return on Investment (ROI) (PBT/Networth)		(1.18)	0.00	(0.01)
Debt Equity Ratio (Total Debt /Networth)		3.05	1.99	1.61
Current Ratio (Current Asset/Current Liability)		0.46	0.53	0.54

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	186.125	260.000	345.000
Reserves & Surplus	(10.388)	(11.105)	(185.144)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	175.737	248.895	159.856
Long Term borrowings	283.600	428.356	431.648
Short Term borrowings	0.000	66.150	55.131
Total borrowings	283.600	494.506	486.779
Debt/Equity ratio	1.614	1.987	3.045

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	0.000	0.000	36.140

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	0.000	0.000	36.140
Profit	(1.174)	(0.717)	(189.040)
	0.00%	0.00%	(523.08%)

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 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	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Loans and advances from directors	32.775	28.935
Loans and advances from others	12.714	13.207
SHORT TERM BORROWINGS
Other loans and advances, others	28.633	16.531
Total	74.122	58.673

CORPORATE INFORMATION

The Company domiciled in India and incorporated under the Companies Act, 1956. The Company has implemented manufacturing facility for production of Sebacic Acid and has commenced Trial Production during the year 2012-13. Actual Production has been started from 1st April, 2013.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10289823	28/06/2013 *	719,700,000.00	State Bank Of India	Mid Corporate Group, Commercial Branch, 3rd Floor, Paramsiddhi Complex, Ellisbridge, Ahmedabad, Gujarat - 380006, India	B79288700
2	10257638	28/06/2013 *	719,700,000.00	State Bank Of India	Mid Corporate Group, Commercial Branch, 3rd Floor, Paramsiddhi Complex, Ellisbridge,, Ahmedabad, Gujarat - 380006, India	B79288262

*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.62.63
UK Pound	1	Rs.92.94
Euro	1	Rs.68.06

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		16

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.