MIRA INFORM REPORT

Report No. :	317678
Report Date :	17.04.2015

IDENTIFICATION DETAILS

Name :	RAYBAN FOODS PRIVATE LIMITED
Registered Office :	T-301, 302, Third Floor, LSC Plot No. 6, Chetan Complex, Shreshtha Vihar, Delhi – 110 092
Tel. No. :	91-122-2316786
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	15.02.2006
Com. Reg. No.:	55-217073
Capital Investment / Paid-up Capital :	Rs. 20.000 Million
CIN No.: [Company Identification No.]	U15111DL2006PTC217073
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Poultry Fees Frozen meat and Tallow.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 400000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. As per registrar of companies the date of balance sheet i.e. financials filed is shown as 31^st March, 2014 but the documents related to the financials for the year 2014 is not available from any source. As per available financial of 2013, there is an unfavorable gap between trade receivables and payables leading to below average liquidity position of the company. Trade relation are reported to be fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

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	CRISIL
Rating	Long term rating = “BB”
Rating Explanation	Inadequate credit quality and high credit risk.
Date	19.02.2015

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. Mohd. Rashid
Designation :	Admin Head
Contact No.:	91-9837771215
Date :	16.04.2015

LOCATIONS

Registered Office :	T-301, 302, Third Floor, LSC Plot No. 6, Chetan Complex, Shreshtha Vihar, Delhi – 110 092, India
Tel. No.:	91-122-2316786 / 2317786
Mobile No.:	91-9654175336 (Mr. Naushad Elahi) 91-9837771215 (Mr. Rashid)
Fax No.:	91-122-2302920 / 2300486
E-Mail :	dashnfca@yahoo.com gunjangarg@rediffmail.com info@raybangroup.net
Website :	www.raybangroup.net
Location :	Owned
Factory :	Old Chungi, Rampur Marg, Buland Shahar Road, Hapur – 245 101, Uttar Pradesh, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Naushad Elahi

Designation :

Director

Address :

1006, Kolta Mewatiyan, Hapur – 245 101, Uttar Pradesh, India

Date of Birth/Age :

26.02.1978

Date of Appointment :

15.02.2006

DIN No.:

01136882

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	Company/ LLP Status	Defaulting status
1	U93090UP2004PTC028957	RAYBAN ORGANICS PRIVATE LIMITED	Director	16/08/2004	16/08/2004	Active	NO
2	U15111DL2006PTC217073	RAYBAN FOODS PRIVATE LIMITED	Director	15/02/2006	15/02/2006	Active	NO
3	U01222TZ2011PTC017048	RAYBAN FEEDS AND HATCHERIES PRIVATE LIMITED	Director	09/05/2011	09/05/2011	Active	NO
4	U24233DL2007PTC164457	URVASHI BIOPHARMACEUTICAL COMPANY PRIVATE LIMITED	Additional director	18/12/2013	18/12/2013	Active	NO
5	U15122DL2014PTC263372	AL-AYAAN FOODS PRIVATE LIMITED	Director	10/01/2014	10/01/2014	Active	NO
6	U15122DL2014PTC263624	AL-NAUSHAD FOODS PRIVATE LIMITED	Director	16/01/2014	16/01/2014	Active	NO

Name :

Mr. Ikram Elahi

Designation :

Director

Address :

1006, Kolta Mewatiyan, Hapur – 245 101, Uttar Pradesh, India

Date of Birth/Age :

20.02.1971

Date of Appointment :

15.02.2006

DIN No.:

00435194

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	Company/ LLP Status	Defaulting status
1	U93090UP2004PTC028957	RAYBAN ORGANICS PRIVATE LIMITED	Director	16/08/2004	16/08/2004	Active	NO
2	U15111DL2006PTC217073	RAYBAN FOODS PRIVATE LIMITED	Director	15/02/2006	15/02/2006	Active	NO
3	U01222TZ2011PTC017048	RAYBAN FEEDS AND HATCHERIES PRIVATE LIMITED	Director	09/05/2011	09/05/2011	Active	NO

Name :

Mrs. Imrana Begum

Designation :

Director

Address :

1006, Kolta Mewatiyan, Hapur – 245 101, Uttar Pradesh, India

Date of Birth/Age :

10.06.1976

Date of Appointment :

15.10.2008

DIN No.:

02399097

Name :

Mrs. Mumtaz Elahi

Designation :

Director

Address :

1006, Kolta Mewatiyan, Hapur – 245 101, Uttar Pradesh, India

Date of Birth/Age :

10.07.1985

Date of Appointment :

15.10.2008

DIN No.:

02507931

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	Company/ LLP Status	Defaulting status
1	U15111DL2006PTC217073	RAYBAN FOODS PRIVATE LIMITED	Director	15/10/2008	15/10/2008	Active	NO
2	U15122DL2014PTC263372	AL-AYAAN FOODS PRIVATE LIMITED	Director	10/01/2014	10/01/2014	Active	NO
3	U15122DL2014PTC263624	AL-NAUSHAD FOODS PRIVATE LIMITED	Director	16/01/2014	16/01/2014	Active	NO

KEY EXECUTIVES

Name :	Mr. Mohd.
Designation :	Admin Head

MAJOR SHAREHOLDERS

As on 30.09.2014

NOTE :

SHAREHOLDING DETAILS FILE ATTACHED

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Poultry Fees Frozen meat and Tallow.
Products :	Trimmed Raw Meat Omasum Salted Honeycomb Tripes Buffalo shin Shank Kidney
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Meat
Countries :	Duabi China Saudi Arabia
Imports :
Products :	Machinery
Countries :	New Zealand
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• Aali Exports Private Limited, Sahibabad
• Frigorifico Allana Limited, Ghaziabad
• Rayban Agro Bio chemicals Limited, Joya
• R.P. traders
• Vishesh Enterprises Private Limited, Delhi
• Alfa Machine Tools, Ghazizbad
• Mohan Automobile and Machinery Store, Hapur

Customers :

Wholesalers and Manufacturer

• Puja, Soap and Household Products Private Limited, Nepal
• Amrit Feeds Limited
• Anmol Feeds Private Limited, Godrej Agrovet Limited, Suguna Poultry Farms Private Limited
• Vridhi Farms Limited, Kashipur
• Shanti Roller Flour Mills Limited, Faizabad

No. of Employees :

200 (Approximately)

Bankers :

· HDFC Bank Limited, Hapur, Uttar Pradesh, India

· IndusInd Bank, Hapur, Uttar Pradesh, India

· Punjab and Sind bank, Hapur, Uttar Pradesh, India

· UCO Bank

· State Bank of India, Delhi, India

Banker Name	Corporation Bank
Branch Address	Hardhyan Singh Road, Karol Bagh, New Delhi – 110005, Delhi, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
Term Loan
Corporation Bank, Karol Bagh (TL A/c No. = TLS/01/110004)	27.662	26.500
Corporation Bank, Karol Bagh (Term Loan A/c No. = TLS/01/130001	29.626	0.000
Vehicle Loans
Corporation Bank (Vehicle Loan A/c No. CVHI/01/120003)	1.240	1.615
Corporation Bank (Vehicle Loan A/c No. CVHI/01/120021)	0.995	0.000
Indusind Bank (Vehicle Loan A/c No. DDA00326c)	00.287	0.000
Punjab and Sind Bank (Vehicle Loan A/c No. 02411200000230)	0.508	0.000
SHORT TERM BORROWING
Cash and Credit facilities from corporation Bank	38.243	23.269
Total	98.561	51.384

Auditors :
Name :	Sambhunath Dash and Company Chartered Accountants
Address :	C -10, Ambey Gaden, Libaspur Industrial Area, Delhi – 110042, India
PAN No.:	ADCPD6434C
Memberships :	Not Available
Collaborators :	Not Available
Sister concern :	Rayban Feeds and Hatheries Private Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs.10/- each	Rs. 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,976,917	Equity Shares	Rs.10/- each	Rs. 29.769 Million

As on31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs.10/- each	Rs. 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20,00,000	Equity Shares	Rs.10/- each	Rs. 20.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	20.000	13.058	9.840
(b) Reserves & Surplus	69.209	34.913	3.053
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	51.090	0.000	0.000
Total Shareholders’ Funds (1) + (2)	140.299	47.971	12.893
(3) Non-Current Liabilities
(a) long-term borrowings	60.318	28.115	8.000
(b) Deferred tax liabilities (Net)	3.045	0.053	0.000
(c) Other long term liabilities	230.161	82.918	15.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	293.524	111.086	23.000
(4) Current Liabilities
(a) Short term borrowings	38.243	23.269	0.000
(b) Trade payables	316.724	44.156	89.881
(c) Other current liabilities	28.344	13.384	0.000
(d) Short-term provisions	0.000	0.000	1.667
Total Current Liabilities (4)	383.311	80.809	91.548
TOTAL	817.134	239.866	127.441
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	333.569	58.436	59.391
(ii) Intangible Assets	0.102	0.032	0.000
(iii) Capital work-in-progress	0.000	86.588	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	3.018	1.798	0.858
(e) Other Non-current assets	0.000	0.028	0.000
Total Non-Current Assets	336.689	146.882	60.249
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	409.706	31.862	12.823
(c) Trade receivables	57.859	25.490	11.636
(d) Cash and cash equivalents	7.607	21.164	42.618
(e) Short-term loans and advances	5.273	14.468	0.054
(f) Other current assets	0.000	0.000	0.061
Total Current Assets	480.445	92.984	67.192
TOTAL	817.134	239.866	127.441

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	TOTAL	NA	NA	NA
Less	EXPENSES
	TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	NA	NA	NA
Less	TAX	NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX	6.528	2.898	2.716
	Earnings / (Loss) Per Share (Rs.)	2.19	NA	NA

Particulars	31.03.2015	31.03.2014
Sales Turnover (Approximately)	4000.000	2000.000

Expected Sales (2015-16) : Rs. 10000.000 Million

The above information has been parted by Mr. Mohd. Rashid

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt /Networth)	0.70	1.07	0.62
Current Ratio (Current Asset/Current Liability)	1.25	1.15	0.73

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	9.840	13.058	20.000
Reserves & Surplus	3.053	34.913	60.209
Share application money pending allotment	0.000	0.000	51.090
Net worth	12.893	47.971	140.299
long-term borrowings	8.000	28.115	60.318
Short term borrowings	0.000	23.269	38.243
Total borrowings	8.000	51.384	98.561
Debt/Equity ratio	0.620	1.071	0.703

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

NOTE: Registered office Address of the company has been shifted from 1006, Kolta Mewatiyanhapur, Hapur, Uttar Pradesh, India to the present address w.e.f. 25.03.2011

INDEX OF CHARGES

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10311888	08/02/2013 *	289,766,000.00	CORPORATION BANK	HARDHYAN SINGH ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	B68734656

* Date of charge modification

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

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 records 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 records 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.62.37
UK Pound	1	Rs.92.44
Euro	1	Rs.66.56`

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUM
Report Prepared by :	ART

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	3
--PROFITABILITY	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	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.