MIRA INFORM REPORT

Report No. :	353509
Report Date :	08.12.2015

IDENTIFICATION DETAILS

Name :	GODAVARI BIOREFINERIES LIMITED (w.e.f. 10.11.2006)
Formerly Known As :	GODAVARI INVESTMENT AND FINANCE CORPORATION LTMITED
Registered Office :	Somaiya Bhavan, 45/47, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra
Tel. No.:	91-22-61702100/22048272
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	12.01.1956
Com. Reg. No.:	11-009707
Capital Investment / Paid-up Capital :	Rs. 426.021 Million
CIN No.: [Company Identification No.]	U67120MH1956PLC009707
IEC No.:	0309008107
TAN No.: [Tax Deduction & Collection Account No.]	MUMG13940D
PAN No.: [Permanent Account No.]	AABCG2543C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Sugar, Distillery and Chemicals and Generation of Power.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 4500000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated during the year 1956 having a satisfactory track record. The company has a strong parentage of “Somay Group” couple with long track record and rich experience of the promoters in sugar industry. The rating is constrained on losses incurred by the company and leverage balance sheet profile in FY14, whereas the company has reported decent sales turnover. Further the company has long business track record and experienced and respectable directors. Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2015.

INFORMATION DENIED BY

Name :	Mr. Aacharya
Designation :	Finance Department
Contact No.:	91-22-61702100
Date :	05.12.2015

LOCATIONS

Registered Office :	Somaiya Bhavan, 45/47, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-61702100/22048272
Fax No.:	91-22-22047297
E-Mail :	pawar.rutika@somaiya.com
Marketing Office 2 :	Warden House 3rd Floor, P.M. Road, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-22884635/ 5631/ 4294
Research Department :	K.J. Somaiya Institute of Applied Agriculture Research (KIAAR) A/P: Sameerwadi, District: Bagalkot – 587316, Karnataka, India
Tel. No.:	91-8350-260046/ 47/ 48
Fax No.:	91-8350-260037
Factory 1 :	Sugar/ Power/ Chemicals (Sameerwad) A/P: Sameerwadi, Taluka – Mudhol, District: Bagalkot – 587316, Karnataka, India
Tel. No.:	91-8350-260046/ 47/ 48/ 81
Fax No.:	91-8350-260037
Factory 2 :	Chemicals (Sakarwadi) A/P: Sakarwadi, District – Ahmednagar – 413708, Maharashtra, India
Tel. No.:	91-2423-279396/ 97/ 08
Fax No.:	91-2423-279339
Branch Office 1 :	Bank of Baroda Building, 6th Floor, Parliament Street, New Delhi – 110001, India
Tel. No.:	91-11-23723351
Branch Office 2 :	Utility Buildings, Tower Block, 4th Floor, J.C. Road, Bangalore – 560 002, Karnataka, India

DIRECTORS

AS ON 26.09.2014

Name :

Mr. Samir Shantilal Somaiya

Designation :

Chairman and Managing Director

Address :

‘Padmanabh’, 10, M.L. Dahanukar Marg, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

28.02.1968

Qualification :

B.S. Chem. Engr. Cornell, M. Chem Engr., Cornell, MBA Cornell, MPA Harvard

Date of Appointment :

01.04.2012

PAN No.:

AMUPS9442C

DIN No.:

00295458

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	U15420MH1973PTC016460	LAKSHMIWADI MINES AND MINERALS PRIVATE LIMITED	Director	05/02/1996	05/02/1996	-	Active	NO
2	U15420MH1964PTC012992	SOMAIYA AGENCIES PRIVATE LIMITED	Director	24/07/1996	24/07/1996	-	Active	NO
3	U51900MH1998PTC113856	SOLAR MAGIC PRIVATE LIMITED	Director	06/03/1998	06/03/1998	-	Active	NO
4	U70101MH1939PTC002945	SOMAIYA PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	01/08/2009	29/09/2000	-	Active	NO
5	U72900MH2000PTC129222	THE BRAINSTORMING COMPANY (INTERNATIONAL) PRIVATE LIMITED	Director	17/10/2000	17/10/2000	-	Strike off	NO
6	U72900MH2005PTC155414	HAVANET NETWORKING AND INTERNET SERVICES PRIVATE LIMITED	Director	17/08/2005	17/08/2005	-	Strike off	NO
7	U99999DL1969GAP005106	INDIAN SUGAR EXIM CORPORATION LTD.	Nominee director	29/09/2005	29/09/2005	30/09/2013	Active	NO
8	U24230MH2005PLC155922	GENESIS LABS LIMITED	Director	09/12/2005	09/12/2005	29/03/2012	Active	NO
9	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Managing director	01/04/2012	22/06/2007	-	Active	NO
10	U01113MH1973PTC016459	SAKARWADI TRADING COMPANY PRIVATE LIMITED	Director	10/09/2010	02/03/2010	-	Active	NO

Name :

Mr. Vinay Venkatesh Joshi

Designation :

Whole Time Director

Address :

C-712, Dev Deveshwar C.H.S., Teli Gali Cross Road, Andheri (East), Mumbai – 400069, Maharashtra, India

Date of Birth/Age :

10.03.1954

Date of Appointment :

01.04.2013

PAN No.:

AAHPJ2213M

DIN No.:

00300227

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	U22210MH1967PTC013667	SOMAIYA PUBLICATIONS PRIVATE LIMITED	Director	14/03/1994	14/03/1994	25/11/2010	Active	NO
2	U01110MH1951PLC008444	ARPIT LIMITED	Director	16/08/2001	16/08/2001	28/03/2011	Active	NO
3	U22120MH1953PLC009191	THE BOOK CENTRE LIMITED	Director	25/03/2005	25/03/2005	-	Active	NO
4	U24230MH2005PLC155922	GENESIS LABS LIMITED	Director	06/09/2005	06/09/2005	29/03/2012	Active	NO
5	U32300MH1946PTC005101	MAMLI PRIVATE LIMITED	Director	01/12/2005	01/12/2005	-	Amalgamated	NO
6	U99999MH1983PTC031419	AABEEARR INDUSTRIAL ESTATE PVT LTD	Director	26/04/2006	26/04/2006	25/11/2010	Active	NO
7	U70100MH1980PTC022694	GRAPEVINE GROWTH CONSTRUCTION PRIVATE LIMITED	Director	17/05/2006	17/05/2006	-	Amalgamated	NO
8	U51900MH1998PTC113856	SOLAR MAGIC PRIVATE LIMITED	Director	31/08/2007	31/08/2007	-	Active	NO
9	L24116MH1986PLC041681	PENTOKEY ORGANY (INDIA) LIMITED	Director	29/09/2008	05/05/2008	05/08/2010	Active	NO
10	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Whole-time director	01/04/2013	28/09/2010	-	Active	NO

Name :

Dr. Badrinarayan Ramulal Barwale

Designation :

Director

Address :

72-B, ‘Urvashi’, Petit Estate, Nepean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

13.08.1931

Qualification :

Doctor of Science (Honoris Causa)

Date of Appointment :

12.08.2009

DIN No.:

00001479

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	U01100MH1970PTC014600	MAHARASHTRA HYBRID SEEDS COMPANY Private Limited	Director	04/05/1970	04/05/1970	-	Active	NO
2	U01110MH1972PLC015630	JALNA SEEDS PROCESSING AND REFRIGERATION COMPANY LIMITED	Director	23/12/1978	23/12/1978	-	Active	NO
3	U99999MH1958PTC011014	AMRITLAL CHEMAUX PRIVATE LIMITED	Director	25/08/1982	25/08/1982	-	Active	NO
4	U24110MH1984PTC034809	MARATHAWADA REALTORS PRIVATE LIMITED	Director	14/12/1984	14/12/1984	14/11/2007	Active	NO
5	L99999MH1982PLC026903	SHRENUJ AND COMPANY LIMITED	Director	17/09/1987	17/09/1987	-	Active	NO
6	U73100MH1987GAP042298	BARWALE FOUNDATION	Director	21/10/1987	21/10/1987	-	Active	NO
7	U65990MH1990PTC055398	Almet Healthcare Private Limited	Director	12/02/1990	12/02/1990	-	Active	NO
8	U67120MH1990PTC055473	HARIRANI INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
9	U67120MH1990PTC055474	HARBHAJAN INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
10	U65990MH1990PTC055475	DUDHNA INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
11	U65990MH1990PTC055470	RAJUR GANAPATI INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
12	U67120MH1990PTC055592	JOHN FOWLER OCULAR LENSES PRIVATE LIMITED	Director	28/02/1990	28/02/1990	-	Active	NO
13	U73200MH1986NPL041521	CENTRE FOR ADVANCEMENT OF PHILANTHROPY.	Director	08/12/1990	08/12/1990	18/09/2009	Active	NO
14	U65999MH1953PTC009189	JOHN FOWLER (INDIA) PRIVATE LIMITED	Director	25/03/1991	25/03/1991	-	Active	NO
15	U70101MH1939PTC002945	SOMAIYA PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	04/08/1993	04/08/1993	24/04/2009	Active	NO
16	U85100MH1995PTC094853	JOHN FOWLER OPHTHALMICS PRIVATE LIMITED	Director	29/11/1995	29/11/1995	14/11/2007	Active	NO
17	U65990MH1996PLC099431	GANGABISHAN BHIKULAL INVESTMENT AND TRADING LIMITED	Director	10/05/1996	10/05/1996	-	Active	NO
18	U73100MH1997PTC111505	MAHYCO MONSANTO BIOTECH (INDIA) Private Limited	Director	23/10/1997	23/10/1997	-	Active	NO
19	U29219MH1998PTC115973	DICKINSON FOWLER PRIVATE LIMITED	Director	27/07/1998	27/07/1998	25/02/2015	Active	NO
20	U01120MH1999PLC122855	MAHYCO VEGETABLE SEEDS LIMITED	Director	01/12/1999	01/12/1999	-	Amalgamated	NO
21	U74999MH2000PTC123855	FOWLER WESTRUP (INDIA) PRIVATE LIMITED	Director	27/01/2000	27/01/2000	-	Active	NO
22	U91990MH2001NPL133451	MAHARAJA AGRESEN FOUNDATION	Director	24/09/2001	24/09/2001	-	Active	NO
23	U40107MH1995PLC084203	MAHYCO SEEDS LIMITED	Director	20/08/2002	20/08/2002	-	Amalgamated	NO
24	U74999MH1991PLC061969	Sungro Seeds Limited	Director	28/10/2005	28/10/2005	-	Active	NO
25	U67120MH2006PTC159783	BARWALE INVESTMENT AND TRADING PRIVATE LIMITED	Director	16/02/2006	16/02/2006	-	Amalgamated	NO
26	U01403MH1990PTC055515	VIKRAM SEEDS PRIVATE LIMITED	Director	30/09/2008	28/04/2008	13/11/2014	Active	NO
27	U73100MH2009PTC191681	Nanophore Life Sciences Private Limited	Director	15/04/2009	15/04/2009	13/09/2012	Strike off	NO
28	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Director	12/08/2009	24/04/2009	-	Active	NO

Name :

Mr. Indubhai Chaturbhai Patel

Designation :

Director

Address :

P-68, South Extension, Part II, New Delhi – 110049, India

Date of Birth/Age :

24.11.1928

Date of Appointment :

12.08.2009

DIN No.:

00456456

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	U70101MH1939PTC002945	SOMAIYA PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	04/08/1993	04/08/1993	24/04/2009	Active	NO
2	U99999DL1969GAP005106	INDIAN SUGAR EXIM CORPORATION LTD.	Nominee director	26/09/2001	26/09/2001	30/09/2013	Active	NO
3	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Director	12/08/2009	24/04/2009	-	Active	NO

Name :

Mr. Kailash Pershad

Designation :

Director

Address :

D-31, 5^th Floor, New Chandra CHS, Opposite Reliance Fresh, Off Veeradesai Road, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

01.02.1940

Qualification :

Engineer

Date of Appointment :

12.08.2009

DIN No.:

00503603

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	U70101MH1939PTC002945	SOMAIYA PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	27/12/1994	27/12/1994	24/04/2009	Active	NO
2	L31300MH1964PLC013088	INDOKEM LIMITED	Director	01/04/2014	31/10/2006	-	Active	NO
3	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Director	12/08/2009	24/04/2009	-	Active	NO

Name :

Dr. Kondapuram Vijaya Raghavan, FNAE

Designation :

Director

Address :

INAE, Distinguished Professor, Reaction Engineering Laboratory Indian Institute of Chemical Technology, Uppal Road, Hyderabad – 500007, Andhra Pradesh, India

Date of Birth/Age :

01.10.1943

Qualification

B.Tech, M.S., Ph. D.

Date of Appointment :

12.08.2009

DIN No.:

00144054

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	U70101MH1939PTC002945	SOMAIYA PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	28/09/2002	28/09/2002	24/04/2009	Active	NO
2	L24110TG1989PLC009713	SUVEN LIFE SCIENCES LIMITED	Director	12/08/2014	04/12/2006	-	Active	NO
3	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Director	12/08/2009	24/04/2009	-	Active	NO

Name :

Shrinivas Narayarao Bableshwar

Designation :

Director

Address :

SOB 4/4, G S M QTRS Sameerwadi Taluka : Mudhol, District Bagalkot, Karnataka – 587316, West Bengal, India

Date of Birth/Age :

16.06.1951

Date of Appointment :

19.12.2011

DIN No.:

05101183

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	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Whole-time director	19/12/2011	28/09/2011	-	Active	NO
2	U51900MH1998PTC113856	SOLAR MAGIC PRIVATE LIMITED	Director	20/09/2012	28/12/2011	-	Active	NO

Name :

Paul Steffen Zorner

Designation :

Director

Address :

1720, Hygeia Avenue, Encinitas, California, 92024, , United States Of America

Date of Birth/Age :

26.05.1954

Date of Appointment :

17.09.2013

DIN No.:

01888805

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	U70101MH1939PTC002945	SOMAIYA PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	07/12/2007	24/09/2007	24/04/2009	Active	NO
2	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Director	17/09/2013	24/04/2009	-	Active	NO

Name :

Jayendra Natwarlal Shah

Designation :

Director

Address :

52, Apurva Bldg., 5th Floor,, Nepeansea Road,, Mumbai, 400036, Maharashtra, India

Date of Birth/Age :

07.03.1959

Date of Appointment :

17.09.2013

DIN No.:

00084759

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	U74140MH1987PTC044896	N.A. SHAH ASSOCIATES (CONSULTANTS) PVT LTD	Director	06/10/1987	06/10/1987	19/10/2010	Converted to LLP and dissolved	NO
2	U67190MH1992PTC066176	MEGHRAJ CAPITAL ADVISORS PRIVATE LIMITED	Director	21/05/1992	21/05/1992	-	Active	NO
3	U67190MH1993PTC073819	A P TARAPOREVALA AND SONS PRIVATE LIMITED	Director	08/09/1993	08/09/1993	20/05/2007	Active	NO
4	U65990MH1994PTC077569	PEWTER INVESTMENT AND FINANCE PRIVATE LTD	Director	31/10/1994	31/10/1994	20/05/2007	Active	NO
5	U24239MH1986PLC040697	RAIGAD PHARMACEUTICALS LIMITED	Director	11/07/1996	11/07/1996	20/03/2008	Active	NO
6	U65910GJ1981PTC004898	ABUZU HOLDINGS PRIVATE LIMITED	Director	27/02/1997	27/02/1997	20/05/2007	Active	NO
7	U72200MH1998PTC117646	ETP INTERNATIONAL PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
8	U74140MH2006PTC163850	TRANS CONTINENTAL CAPITAL ADVISORS PRIVATE LIMITED	Director	18/08/2006	18/08/2006	-	Active	NO
9	U65990MH1987PTC044769	MEGHRAJ FINANCIAL CONSULTANTS PRIVATE LIMITED	Director	31/10/2006	31/10/2006	21/05/2007	Active	NO
10	L25200MH1981PLC025731	EPC INDUSTRIE LIMITED	Director	22/01/2007	22/01/2007	29/09/2011	Active	NO
11	L24110TG1991PLC013512	Gayatri BioOrganics Limited	Director	27/09/2007	31/07/2007	21/05/2010	Active	NO
12	U01111DL1992PLC049149	MAHAAN PROTEINS LIMITED	Additional director	04/10/2007	04/10/2007	16/01/2008	Active	NO
13	L74899DL1956GOI002674	THE STATE TRADING CORPORATION OF INDIA LIMITED	Additional director	18/04/2012	01/12/2008	18/04/2015	Active	NO
14	U99999MH1973PTC016613	LOKMAT MEDIA Private Limited	Director	06/12/2010	06/12/2010	06/08/2013	Active	NO
15	U72900MH2009PTC191549	SOCIAL PR OUTSOURCING PRIVATE LIMITED	Director	28/09/2012	01/12/2011	19/05/2014	Active	NO
16	U28920MH1989PTC054711	ANANDJI HARIDAS AND COMPANY PRIVATE LIMITED	Director	31/01/2012	31/01/2012	-	Active	NO
17	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Director	17/09/2013	21/09/2012	-	Active	NO
18	U72300MH2012PTC239173	WHITE OCEAN DIGITAL SOLUTIONS PRIVATE LIMITED	Director	31/12/2012	31/12/2012	17/06/2014	Strike off	NO
19	U70101MH1939PTC002945	SOMAIYA PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	20/09/2013	24/06/2013	-	Active	NO

Name :

Werner Walfried Wutscher

Designation :

Director

Address :

Wolkersbergenstrasse 172/1, 1130, VIENNA, 1130, , AUSTRIA

Date of Birth/Age :

03.05.1968

Date of Appointment :

21.09.2012

DIN No.:

06456562

Name :

Girish Mavajibhai Kajaria

Designation :

Whole-Time Director

Address :

At Post Sakarwadi, Taluka - Kopargoan, Ahmednagar, 413708, Maharashtra, India

Date of Birth/Age :

14.07.1949

Date of Appointment :

20.06.2014

DIN No.:

02263052

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	L24116MH1986PLC041681	PENTOKEY ORGANY (INDIA) LIMITED	Director	29/09/2008	05/05/2008	-	Active	NO
2	U70101MH1939PTC002945	SOMAIYA PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	28/09/2010	02/03/2010	-	Active	NO
3	U24110MH1960PTC011824	SOMAIYA CHEMICAL INDUSTRIES PRIVATE LIMITED	Director	26/09/2011	08/06/2011	-	Active	NO
4	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Whole-time director	20/06/2014	20/06/2014	-	Active	NO

Name :

Sanjay Kumar Gupta

Designation :

Nominee Director

Address :

Dy. General Manager, Corporate Banking Group, IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

22.04.1965

Date of Appointment :

16.07.2013

KEY EXECUTIVES

Name :	Rutika Somdatta Pawar
Designation :	Secretary
Address :	201, Bashikali Nagar, Building No.1, Navghar Road, Bhayander (East), Mumbai, 401105, Maharashtra, India
Date of Birth/Age :	01.05.1980
Date of Appointment :	23.07.2012

MAJOR SHAREHOLDERS

AS ON 26.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

AS ON 30.03.2015

Name of Allottee	No. of Shares
Mandala Capital AG Limited, Mauritius	4765033

Equity Share Break up (Percentage of Total Equity)

AS ON 26.09.2014

Category	Percentage
Bodies corporate	76.41
Directors or relatives of Directors	15.62
Other top fifty shareholders	7.97
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Sugar, Distillery and Chemicals and Generation of Power.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

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

Customers :

Not Divulged

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

No. of Employees :

Information declined by the management

Bankers :

State Bank of Patiala, Commercial Branch, Atalnta Building, Nariman Point, Mumbai – 400021, Maharashtra, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee term loan from banks	1212.503	996.306
Rupee term loan from others	646.283	674.206
SHORT TERM BORROWING
Working capital loans from banks	3414.957	3754.482
Total	5273.743	5424.994

Auditors :
Name :	Desai Saksena and Assocaites Chartered Accountants
Address :	Laxmi Building, 1st Floor, Sir P M Road, Fort, Mumbai, Maharashtra, India
PAN No.:	AABFD6281B
Memberships :	--
Collaborators :	--
Subsidiary company :	Solar Magic Private Limited The Book Centre Limited Pentokey Organy (India) Limited Jasmine Trading Company Private Limited Somaiya Properties And Investments Private Limited Arpit Limited Somaiya Chemical Industries Private Limited K J Somaiya And Sons Private Limited Lakshmiwadi Mines And Minerals Private Limited F I Lmedia Communication Systems Private Limited Solar Magic Private Limited
Others :	Godavari Biorefineries INC Godavari Biorefineries B.V.

CAPITAL STRUCTURE

AFTER 26.09.2014

Authorised Capital : Rs. 600.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 35.738 Million

AS ON 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
42000000	Equity Shares	Rs.10/- each	Rs. 420.000 Million
1800000	Preference Shares	Rs. 100/- each	Rs. 180.000 Million
	Total		Rs. 800.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30602100	Equity Shares	Rs.10/- each	Rs. 306.021 Million
1750000	Preference Shares	Rs. 100/- each	Rs. 175.000 Million
	Total		Rs. 481.021 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
42000000	Equity Shares	Rs.10/- each	Rs. 420.000 Million
1800000	Preference Shares	Rs. 10/- each	Rs. 180.000 Million
	Total		Rs. 600.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30602100	Equity Shares	Rs.10/- each	Rs. 306.021 Million
1200000	Preference Shares	Rs. 10/- each	Rs. 120.000 Million
	Total		Rs. 426.021 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	426.021	376.021	376.021
(b) Reserves & Surplus	1174.294	1496.063	1476.475
(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)	1600.315	1872.084	1852.496
(3) Non-Current Liabilities
(a) long-term borrowings	1965.715	1777.441	2180.076
(b) Deferred tax liabilities (Net)	165.857	165.857	155.526
(c) Other long term liabilities	89.545	52.380	81.619
(d) long-term provisions	5.397	5.853	5.234
Total Non-current Liabilities (3)	2226.514	2001.531	2422.455
(4) Current Liabilities
(a) Short term borrowings	5132.421	5753.572	5467.297
(b) Trade payables	1191.656	1161.600	1155.668
(c) Other current liabilities	889.833	1068.138	743.376
(d) Short-term provisions	22.122	41.124	63.214
Total Current Liabilities (4)	7236.032	8024.434	7429.555
TOTAL	11062.861	11898.049	11704.506
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4805.274	5009.531	5132.735
(ii) Intangible Assets	0.006	0.006	0.006
(iii) Capital work-in-progress	63.798	144.771	48.733
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	62.936	59.089	61.589
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	22.869	26.083	32.007
(e) Other Non-current assets	80.567	75.690	76.655
Total Non-Current Assets	5035.450	5315.170	5351.725
(2) Current assets
(a) Current investments	0.388	0.382	0.442
(b) Inventories	4380.852	5777.022	5390.684
(c) Trade receivables	906.993	58.091	315.155
(d) Cash and cash equivalents	101.428	77.212	77.745
(e) Short-term loans and advances	615.526	647.962	526.442
(f) Other current assets	22.224	22.210	42.313
Total Current Assets	6027.411	6582.879	6352.781
TOTAL	11062.861	11898.049	11704.506

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	12120.904	11951.885	9134.497
		Other Income	19.957	99.770	21.059
		TOTAL	12140.861	12051.655	9155.556
Less	EXPENSES
		Cost of Materials Consumed	7473.355	8872.764	7762.194
		Purchases of Stock-in-Trade	196.915	105.253	36.287
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	1635.689	(402.068)	(1395.241)
		Employees benefits expense	497.773	543.345	391.797
		Other expenses	1273.373	1642.605	1377.079
		TOTAL	11077.105	10761.899	8172.116
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1063.756	1289.756	983.440
Less	FINANCIAL EXPENSES		998.080	860.658	628.885
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		65.676	429.098	354.555
Less/ Add	DEPRECIATION/ AMORTISATION		387.445	365.962	251.066
	PROFIT BEFORE TAX		(321.769)	63.136	103.489
Less	TAX		0.000	22.979	40.961
	PROFIT AFTER TAX		(321.769)	40.157	62.528
	Earnings Per Share (Rs.)		(10.51)	0.99	1.80

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(2.65)	0.34	0.68
Operating Profit Margin (PBIDT/Sales)	(%)	8.78	10.79	10.77
Return on Total Assets (PBT/Total Assets}	(%)	(2.94)	0.54	0.89
Return on Investment (ROI) (PBT/Networth)		(0.20)	0.03	0.06
Debt Equity Ratio (Total Debt /Networth)		4.44	4.02	4.13
Current Ratio (Current Asset/Current Liability)		0.83	0.82	0.86

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	376.021	376.021	426.021
Reserves & Surplus	1476.475	1496.063	1174.294
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1852.496	1872.084	1600.315
long-term borrowings	2180.076	1777.441	1965.715
Short term borrowings	5467.297	5753.572	5132.421
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	7647.373	7531.013	7098.136
Debt/Equity ratio	4.128	4.023	4.435

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	9134.497	11951.885	12120.904
		30.843	1.414

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	9134.497	11951.885	12120.904
Profit	62.528	40.157	-321.769
	0.68%	0.34%	-2.65%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	----
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	No
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	----
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	----
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	----
33	Market information	----
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from Fazalbhoy Building, 45/47, M.G. Road, Fort, Mumbai, Maharashtra, India to the present address w.e.f. 24.04.2009.

UNSECURED LOAN

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Borrowing from government semi-government bodies	106.929	106.929
SHORT TERM BORROWING
Term loans	1498.042	1920.676
Intercorporate deposits	185.300	34.970
Public deposits	34.122	52.444
Total	1824.393	2115.019

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10501603	03/04/2014 *	200,000,000.00	ANDHRA BANK	18, HOMI MODI STREET, NANAVATHI MAHALAYA, FORT, MUMBAI, Maharashtra - 400001, INDIA	C14059893
2	10460822	03/04/2014 *	400,000,000.00	UNION BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, 66/80, MUMBAI SAMACHAR MARG, FORT, Mumbai, Maharashtra - 400023, INDIA	C14340301
3	10446765	03/04/2014 *	400,000,000.00	Bank of India	Mumbai Large Corporate Branch, Oriental Building,  Gr. Floor, 364, D.N. Road, Fort, Mumbai, Maharashtra - 400001, INDIA	C12062444
4	10246718	03/02/2011 *	419,800,000.00	Government of India Ministry of Consumer Affairs F  ood and Public Distribution	Department of Food and Public Distribution, Krishi Bhavan, New Delhi, Delhi - 110001, INDIA	B05540257
5	10238829	03/02/2011 *	478,600,000.00	Corporation Bank	Bagalkot Branch, Bagalkot, Bagalkot, Karnataka - 587101, INDIA	B06691935
6	10234703	03/02/2011 *	475,800,000.00	PUNJAB NATIONAL BANK	Large Corporate Branch, Maker Tower-E, Ground Floor Cuffe Parade, MUMBAI, Maharashtra - 400005, INDIA	B06438030
7	10228907	03/04/2014 *	1,878,000,000.00	Bank of Baroda (Lead) & Syndicate Bank	Corporate Financial Services Branch, 4th Floor, 10/12 Mumbai Samachar Marg, Fort, Mumbai, Maharashtra - 400023, INDIA	C17466624
8	10228910	03/02/2011 *	290,000,000.00	Government of India Ministry of Consumer Affairs Food and Public distribution	Department of Food and Public Distribution, Krishi Bhavan, New Delhi, Delhi - 110001, INDIA	B05524061
9	10229639	03/04/2014 *	3,076,300,000.00	Bank of India - Lead Bank	Mumbai Large Corporate Branch, Oriental Building,  Gr. Floor, 364, D.N. Road, Fort, Mumbai, Maharashtra - 400001, INDIA	C10279065
10	10210838	03/02/2011 *	160,000,000.00	Union Bank of India	Industrial Finance Branch, 66/80, Mumbai Samachar  Marg, Fort, Mumbai, Maharashtra - 400023, INDIA	B08244774

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and Equipments
• Vehicles
• Office Equipments
• Other Equipments
• Computer Equipments

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. 66.63
UK Pound	1	Rs. 100.65
Euro	1	Rs. 72.40

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	TRI
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		41

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.