MIRA INFORM REPORT

Report No. :	353490
Report Date :	28.12.2015

IDENTIFICATION DETAILS

Name :	SATYAM AGRO TRADE PRIVATE LIMITED

Registered Office :	209-L2, The Summit Business Bay, Samarth Nagar, Hanuman Nagar Road, Western Express Highway, Vile Parle (East), Mumbai-400057, Maharashtra
Tel. No.:	91-22-26112299/ 26122299

Country :	India

Financials (as on) :	31.03.2015

Date of Incorporation :	04.03.2015

Com. Reg. No.:	11-262416

Capital Investment / Paid-up Capital :	Rs. 0.100 Million

CIN No.: [Company Identification No.]	U74999MH2015PTC262416

IEC No.:	0315901471

TIN No.:	27461127514

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAVCS4955Q

Legal Form :	Private Limited Liability Company

Line of Business :	Trader of Fruits Juices. (Confirmed by Management)

No. of Employees :	22 (In Office : 7, In Factory : 15) Approximately

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Status :	New Business

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a new company incorporated on 4^th March 2015. Even though it was incorporated in 2015 but they have started its business activities from 15^th September 2015. Mr. Arvind Omprakash Varma, Director has provided information of the subject and claimed that the company has started its business activities from 15^th September 2015. As per available financial, the company has reported other income of Rs.0.370 Million during the year 2015. Further, trade relations are improving. Business is active. Payment terms are unknown. In view of newly commenced business, it would be advisable to take adequate securities while dealing with the subject.

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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 PARTED BY

Name :	Mr. Arvind Omprakash Varma
Designation :	Director
Contact No.:	91-9819944999
Date :	28.12.2015

LOCATIONS

Registered Office :	209-L2, The Summit Business Bay, Samarth Nagar, Hanuman Nagar Road, Western Express Highway, Vile Parle (East), Mumbai-400057, Maharashtra, India
Tel. No.:	91-22-26112299/ 26122299
Mobile No.:	91-9819944999 (Mr. Arvind Omprakash Varma)
Fax No.:	Not Available
E-Mail :	arvindo999@yahoo.com
Area :	1000 sq. ft.
Location :	Rented

Godown :	Plot No E and F, Block No.65, Pipodra, Surat, Gujarat, India
Location :	Owned

DIRECTORS

As on 31.03.2015

Name :

Mr. Arvind Omprakash Varma

Designation :

Director

Address :

B-1203, Obeoi Spendor, JVLR, Mumbai, Maharashtra, India

Date of Birth/Age :

22.09.1966

Qualification :

B. Com

Experience :

20 Years

Date of Appointment :

04.03.2015

PAN No.:

AISPV8225E

DIN No.:

05354265

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	U51909MH2011PTC211990	SATYAM EXIMTEX INTERNATIONAL PRIVATE LIMITED	Director	15/04/2013	15/04/2013	Active	NO
2	U51101GJ2012PTC069068	SATYAM LIFESTYLE PRIVATE LIMITED	Director	05/09/2013	05/09/2013	Active	NO
3	U17120GJ2014PTC079034	SATYAM WEAVING INDUSTRIES PRIVATE LIMITED	Director	26/03/2014	26/03/2014	Active	NO
4	U74999MH2015PTC262416	SATYAM AGRO TRADE PRIVATE LIMITED	Director	04/03/2015	04/03/2015	Active	NO

Name :

Mrs. Sarla Rajkumar Varma

Designation :

Director

Address :

A-26, Bhagya Laxmi Society-1, Piplod, Surat-395007, Gujarat, India

Date of Birth/Age :

01.06.1970

Qualification :

B. Com

Experience :

15 Years

Date of Appointment :

04.03.2015

PAN No.:

AICPV7936L

DIN No.:

02487058

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	U45201MH2007PTC265849	SATYAM SAI BUILDERS PRIVATE LIMITED	Director	26/11/2008	26/11/2008	01/09/2011	Active	NO
2	U18109GJ2011PTC065775	ANNU POLYESTERS PRIVATE LIMITED	Director	27/08/2011	27/08/2011	22/12/2011	Active	NO
3	U51909MH2011PTC211990	SATYAM EXIMTEX INTERNATIONAL PRIVATE LIMITED	Director	15/04/2013	15/04/2013	-	Active	NO
4	U51101GJ2012PTC069068	SATYAM LIFESTYLE PRIVATE LIMITED	Director	05/09/2013	05/09/2013	21/09/2015	Active	NO
5	U17120GJ2014PTC079034	SATYAM WEAVING INDUSTRIES PRIVATE LIMITED	Director	07/03/2014	07/03/2014	-	Active	NO
6	U74999MH2015PTC262416	SATYAM AGRO TRADE PRIVATE LIMITED	Director	04/03/2015	04/03/2015	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2015

Names of Shareholders	No. of Shares	Percentage holding
Arvind Omprakash Varma	50000	50.00
Sarla Rajkumar Varma	50000	50.00
Total	100000	100.00

As on 01.06.2015

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 :	Trader of Fruits Juices. (Confirmed by Management)

Products :	Fruits Juices

Brand Names :	“Onjus”

Agencies Held :	Not Available

Exports :	--

Imports :
Products :	Juice
Countries :	Sri Lanka

Terms :
Selling :	Credit (60 Days)

Purchasing :	L/C and Cash

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Tunip Agro Limited

Name of the Person :

Mr. Rasim Khan (Purchase Department)

Contact No.:

91-9833416364

Since How Long Known :

6 Months

Maximum Limit Dealt :

As per requirements

Experience :

Payment Behaviour	Market Goodwill	Overall
Good	Good	Good

Remark:

Management is good, they cleared their payment on time.

Customers :

Wholesalers, Retailers, End Users and Others (Corporates)

Reference 1 :

Pramod Supplier

Name of the Person :

Mr. Arvind Doshi (Proprietor)

Contact No.:

91-9820134955

Since How Long Known :

6 Months

Maximum Limit Dealt :

As per requirements

Experience :

Product Quality	Delivery Behaviour	Overall
Average	Average	Average

Remark:

Service is not good, product quality is good, delivery behavior is not on time

Reference 2 :

Aayush Agencies

Name of the Person :

Mr. Sunil Rajbhoj (Proprietor)

Contact No.:

91-9867913157

Since How Long Known :

6 Months

Maximum Limit Dealt :

As per requirements

Experience :

Product Quality	Delivery Behaviour	Overall
Good	Good	Good

Remark:

Product quality of goods is good delivery behaviour is also good. They don’t have any issue about their services.

No. of Employees :

22 (In Office : 7, In Factory : 15) Approximately

Bankers :

Bank Name	HDFC Bank Limited
Branch	National House Plot No. 13/14/15, Sahar Road Junction, Western Express Highway, Vile Parle (East), Mumbai-400057, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	50200011616551
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	No facilities
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	AVCS and Associates Chartered Accountants
Address :	111, Tirupati Udyog, Off Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India
Tel. No.:	91-22-42646631
E-Mail :	info@avcs.ind.in
Website :	www.avcss.ind.in
PAN N Income-tax PAN of auditor or auditor's firm :	ABAFA2799R

Memberships :	--

Collaborators :	--

Sister Concerns :	Satyam Eximtex International Private Limited Address : 209/L-2, The Summit Business Bay, Hanuman Nagar Road, Western Express Highway, Vile Parle (East), Mumbai -400057, Maharashtra, India Activity : Trading in textile materials Manisha Enterprises Address : 209/L-2, The Summit Business Bay, Hanuman Nagar Road, Western Express Highway, Vile Parle (East), Mumbai -400057, Maharashtra, India Activity : Trading in textile materials

CAPITAL STRUCTURE

As on 01.06.2015

Authorised Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS			31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital			0.100
(b) Reserves & Surplus			0.202
(c) Money received against share warrants			0.000

(2) Share Application money pending allotment			0.000
Total Shareholders’ Funds (1) + (2)			0.302

(3) Non-Current Liabilities
(a) long-term borrowings			0.000
(b) Deferred tax liabilities (Net)			0.000
(c) Other long term liabilities			0.000
(d) long-term provisions			0.000
Total Non-current Liabilities (3)			0.000

(4) Current Liabilities
(a) Short term borrowings			0.056
(b) Trade payables			0.000
(c) Other current liabilities			0.000
(d) Short-term provisions			0.116
Total Current Liabilities (4)			0.172

TOTAL			0.474

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets			0.000
(ii) Intangible Assets			0.000
(iii) Capital work-in-progress			0.000
(iv) Intangible assets under development			0.000
(b) Non-current Investments			0.000
(c) Deferred tax assets (net)			0.000
(d) Long-term Loan and Advances			0.000
(e) Other Non-current assets			0.045
Total Non-Current Assets			0.045

(2) Current assets
(a) Current investments			0.000
(b) Inventories			0.000
(c) Trade receivables			0.000
(d) Cash and cash equivalents			0.429
(e) Short-term loans and advances			0.000
(f) Other current assets			0.000
Total Current Assets			0.429

TOTAL			0.474

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015
	SALES
		Income	0.000
		Other Income	0.372
		TOTAL (A)	0.372

Less	EXPENSES
		Employees benefits expense	0.011
		Other expenses	0.043
		TOTAL (B)	0.054

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)		0.318

Less	FINANCIAL EXPENSES (D)		0.000

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.318

Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.011

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.307

Less	TAX (H)		0.105

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		0.202

	Earnings / (Loss) Per Share (Rs.)		263.11

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars			31.03.2015
Current Maturities of Long term debt			NA
Cash generated from operations			NA
Net cash flows from (used in) operation			NA

KEY RATIOS

PARTICULARS		31.03.2015
Net Profit Margin (PAT / Sales)	(%)	0.00

Operating Profit Margin (PBIDT/Sales)	(%)	0.00

Return on Total Assets (PBT/Total Assets}	(%)	64.56

Return on Investment (ROI) (PBT/Networth)		1.01

Debt Equity Ratio (Total Debt /Networth)		0.19

Current Ratio (Current Asset/Current Liability)		2.49

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	Yes
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	Yes
10]	Date of Birth of Proprietor / Partners / Directors	Yes
11]	Pan Card No. of Proprietor / Partners	Yes
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)	Yes
16]	No. of employees	Yes
17]	Details of sister concerns	Yes
18]	Major suppliers	Yes
19]	Major customers	Yes
20]	Banking Details	Yes
21]	Banking facility details	No
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 one months	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	Yes
29]	Profitability for last one months	Yes
30]	Major shareholders, if available	Yes
31]	External Agency Rating, if available	No
32]	Litigations that the firm/promoter involved in	--
33]	Market information	--
34]	Payments terms	Yes
35]	Negative Reporting by Auditors in the Annual Report	No

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

UNSECURED LOANS

(RS. IN MILLION)

PARTICULARS	31.03.2015
SHORT-TERM BORROWINGS
Loans from Directors and Relatives	0.056

Total	0.056

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ANALYSIS OF BALANCE SHEET

(RS. IN MILLION)

PARTICULARS	31.03.2016	31.03.2017	31.03.2018	31.03.2019
	(PROJECTION)
i. Short term borrowings from bank (incl. Bills purchased, discounted & excess borrowings placed on repayment basis)
Bank Borrowings (from our Bank)	145.000	145.000	145.000	145.000
Bank Borrowings (from other Bank)	0.000	0.000	0.000	0.000
Sub Total - Bank Borrowings	145.000	145.000	145.000	145.000

ii. Term Loan instalments due within one year.	0.000	0.000	0.000	0.000
iii. Sundry Creditors	3.523	13.589	19.288	24.411
iv. Creditor for Exp	0.125	0.325	0.906	1.223
v. Advance from Customers / Deposit from dealers	0.000	0.000	0.000	0.000
vi. Provision	0.375	1.256	2.286	2.760
vii. Other current liabilities	--	--	--	--
viii Short Term Unsecured Loan from Associate & Group, Relative, Promoter	--	--	--	--

Total (A)	149.023	160.170	167.481	173.395

B. TERM LIABILITIES
Term Loan of Bank/FI (excluding instalments payable within one year)	0.000	0.000	0.000	0.000
Debentures (not maturing within one year)	--	--	--	--
Preference Shares capital maturity < 12 years	--	--	--	--
Term Deposits (repayable after one year)	0.056	0.056	0.056	0.056
Unsecured Loan from Bank and NBFC	0.000	0.000	0.000	0.000
Unsecured Loan from promoters/Relatives / NON Current Liab.	0.000	0.000	0.000	0.000
Deferred Tax Liability	0.000	0.000	0.000	0.000

Total (B)	0.056	0.056	0.056	0.056

C. NET WORTH
Paid up Share Capital (Equity & Redeemable Preference shared payable after 12 years) / Prop. / Partners Fixed Capital	0.100	10.100	16.100	20.100
Capital Introduce/Share Application Money	10.000	6.000	4.000	0.000
Net Profit / Reserve	1.880	8.130	17.627	31.435
Drawings	0.000	0.000	0.000	0.000
Closing Paid up Capital / Prop. / Partners	11.980	24.230	37.727	51.535
Share Premium / Partners’ current account	20.000	32.000	48.000	52.800
Quasi Capital (Int. Free Unsec. Loan upto 100% of TNW)	0.000	0.000	0.000	0.000
Less: Intangible Assets (Prel.exp, Loss, Goodwill, Patent, Trademark, Deferred Tax Assets)	--	--	--	--

Total (I + ii)	31.980	56.230	85.727	104.335

Revaluation Reserve	0.000	0.000	0.000	0.000

Total (C)	31.980	56.230	85.727	104.335
Net worth Excluding Revaluation Reserve

D. TOTAL LIABILITIES	181.059	216.456	253.263	277.785

E. CURRENT ASSETS
i. Cash & Bank Balance	0.720	0.801	0.359	0.579
ii. FDRs (unencumbered, Margin for LC/BG should be treated noncurrent) and Other Liquid Assets	5.000	5.000	5.000	5.000
iii. Advances paid to Suppliers of RM / Stores / Spares	--	--	--	--
iv. Receivables - Domestic	144.536	178.979	198.724	214.896
- Export	--	--	--	--
v. Other Current Assets	0.278	0.597	0.645	0.848

vii. Inventory (Total) as under	29.800	30.456	48.000	56.000
Raw Materials	0.000	0.000	0.000	0.000
Stock in Process	0.000	0.000	0.000	0.000
Finished Goods / Traded Goods Store, Spare & Packing Materials	29.800	30.456	48.000	56.000

Total (E)	180.334	215.833	252.728	277.323

GROSS FIXED ASSETS	0.845	0.725	0.623	0.536
CAPITAL WORK IN PROGRESS/ SOLD	--	--	--	--
DEPRICIATION TO DATE	0.120	0.102	0.087	0.074

F. NET FIXED ASSETS	0.725	0.623	0.536	0.462
(Excluding Revaluation Reserve)

G. OTHER NON CURRENT ASSETS
Deposits not in nature of current	0.000	0.000	0.000	0.000
Advances / Investment in subsidiary / Associate Concerns / Advance to Directors / Relatives / Partners etc	0.000	0.000	0.000	0.000
LIC and Other Investment	0.000	0.000	0.000	0.000
Deferred tax Assets	0.000	0.000	0.000	0.000
FDRs / RD & Interest thereon (Including margin for LC/BG valid above 1 years or encumbered)	0.000	0.000	0.000	0.000
Others	0.000	0.000	0.000	0.000

Total (G)	0.000	0.000	0.000	0.000

H. TOTAL ASSETS (E+F+G)	181.059	216.456	253.263	277.785

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

RATIO ANALYSIS

(RS. IN MILLION)

PARTICULARS	31.03.2016	31.03.2017	31.03.2018	31.03.2019
	(PROJECTION)

Net Working Capital	31.311	55.663	85.247	103.928

Current Ratio	1.21	1.35	1.51	1.60

Adjusted Current Ratio	1.21	1.35	1.51	1.60

Total Debt / Adjusted Equity	4.66	2.85	1.95	1.66

Long Term Debt / Adjusted Equity	0.00	0.00	0.00	0.00

Interest Coverage Ratio	1.51	1.51	1.75	1.97

Current Assets to Turnover Ratio	1.45	4.69	4.99	5.73

DSCR	1.51	1.51	1.75	1.97

Gross Profit/Sales	3.46	2.67	2.67	2.75

Net Profit/Sales	0.66	0.64	0.77	0.89

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COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLION)

PARTICULARS	31.03.2016	31.03.2017	31.03.2018	31.03.2019
	(PROJECTION)

Total Current Assets (Form IV)	252.000	981.600	1230.141	1552.807
Growth %	--	289.52%	25.32%	26.23%

Total Current Assets	180.334	215.833	252.728	277.323

Current Liabilities (other than bank borrowings)	4.023	15.170	22.481	28.395

Working Capital Gap	176.311	200.663	230.247	248.928

Margin, higher of
- 20% of Current Assets	36.067	43.167	50.546	55.465
- Actual / Projected WC	31.311	55.663	85.247	103.928

c – d1	140.244	157.496	179.702	193.464

c – d2	145.000	145.000	145.000	145.000

MPBF (e or f whichever is less)	140.244	145.000	145.000	145.000

Bank Borrowing (CC + BD)	145.000	145.000	145.000	145.000

Excess Borrowing	4.756	0.000	0.000	0.000

TURNOVER METHOD

PARTICULARS	31.03.2016	31.03.2017	31.03.2018	31.03.2019
	(PROJECTION)

Gross Sales	252.000	981.600	1230.141	1552.807
Growth %	--	289.52%	25.32%	26.23%

Total WC (25% of Sales)	63.000	245.400	307.535	388.202

Bank Finance (20% of Sales )	50.400	196.320	246.028	310.561

Minimum Net Working Capital/ Promoters margin @ 5% of gross sales	12.600	49.080	61.507	77.640

Actual NWC	31.311	55.663	85.247	103.928

MPBF (b-d)	50.400	196.320	246.028	310.561

Drawing Power	106.429	120.037	140.768	152.629

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FINANCIAL INDICATORS

(RS. IN MILLION)

PARTICULARS	31.03.2016	31.03.2017	31.03.2018	31.03.2019
	(PROJECTION)

i. Paid up Capital / Prop. / Partners fixed	0.100	10.100	16.100	20.100
ii. Share Premium	20.000	32.000	48.000	52.800
iii. Profit & Loss Retained profit	1.880	8.130	17.627	31.435
iv. Capital Introduce	10.000	6.000	4.000	0.000
iv. Quasi Capital	0.000	0.000	0.000	0.000
iv. Less: Drawing	0.000	0.000	0.000	0.000
v. Less: Advances / Investment in subsidiary / Associate Concerns	0.000	0.000	0.000	0.000
Tangible Net worth	31.980	56.230	85.727	104.335

Net Working Capital	31.311	55.663	85.247	103.928
Gross Block + CWIP	0.845	0.725	0.623	0.536
Net Block + CWIP	0.725	0.623	0.536	0.462
Gross Sales	253.500	983.625	1232.470	1555.951
Net Sales	253.500	983.625	1232.470	1555.951
- of which exports	--	--	--	--
PBDIT	5.830	20.835	25.590	32.825
Gross Profit = PBDT	8.760	26.254	32.956	42.813
Net Profit / Loss = PAT	1.678	6.250	9.497	13.808
Depreciation	0.120	0.102	0.087	0.074
Cash Accruals	1.798	6.352	9.584	13.882
PBDIT/ Gross Sales %	2.30	2.12	2.08	2.11
Gross Profit Margin %	3.46	2.67	2.67	2.75
Net Profit Margin %	0.66	0.64	0.77	0.89
Current Ratio	1.21	1.35	1.51	1.60
Adjusted Current Ratio	1.21	1.35	1.51	1.60
Total Debt / Adjusted Equity	4.66	2.85	1.95	1.66
Long Term Debt / Adjusted Equity	0.00	0.00	0.00	0.00
Interest Coverage Ratio	1.51	1.51	1.75	1.97
Current Assets to Turnover Ratio	1.45	4.69	4.99	5.73

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NETWORTH STATEMENT

MR. ARVIND O. VERMA

(RS. IN MILLION)

CAPITAL INVESTED IN BUSINESS

Name	Nature of Association	Address	Bank Borrowing and Address of Bankers	Investment Amount

Manisha Enterprises	Proprietorship	L2/209, The Summit Business Bay, W.E. Highway, Vile Parle (East), Mumbai	CBI	64.892

Satyam Eximtex Private Limited	Private Limited	L2/209, The Summit Business Bay, W.E. Highway, Vile Parle (East), Mumbai	SBBJ	85.225

Total				150.117

CAPITAL INVESTED IN ASSOCIATE CONCERNS

Name	Nature of Association	Address	Credit	Means

Satyam Agro Trade Private Limited	Private Limited	Mumbai	0.050	Self

Satyam Polyester Private Limited	Private Limited	Mumbai	7.050	Self

Total			7.100

ADVANCE TO PROMOTERS OTHER THAN CREDIT LIMITS WITH BANK

Name of Institution	Type of Loan	Loan Amount	O/S Amount

UCO Bank	Home Loan	3.000	1.900

BOI	Car Loan	5.000	4.874

IMMOVABLE PROPERTY

Properties	Address	Market Value (Amount in Million)

Factory Land and Building	Plot No. 3 and 4, Block No. 120, Mota Borsana, Kim, Surat	143.200

Total		143.200

RESIDENTIAL FLAT/ BUILDING/ OTHER BUILDINGS

Particulars	No. 1	No. 2	No. 3
Name and Shares of Owners/ Joint Owners	Self	Self	Self

Nature, tenement, flat, raw house	Residential Flat	Commercial Premises	Residential Flat

Location	A-903 and B-501, Shiv Sagar Residency, Vesu, Surat	203-204 B, Madhuli Complex, Ring Road, Surat	403-404, Manish Park, Chala, Vapi

Present Market Value	18.720	35.900	3.000

Possession with	Self	Self	Self

Encumbrance, if any	Home loan of UCO Bank	Nil	Nil

DETAILS OF MOVABLE PROPERTIES

Nature of Assets	Amount in Million

Cash and Bank Balance	0.424

Car – Cruze	0.150

Gold and Jewellery	23.648

Car – Audi Q-7	7.706

Capital Invested in Business/ Associate Concerns	157.217

Total	189.145

TOTAL VALUE OF ASSETS

RS. 389.965 MILLION

LESS:

Borrowing from Friends and Relatives	77.130

Borrowings from Other Bank and FI
UCO Bank Home Loan	1.900
Audi Car Loan	4.874

Total	83.904

NETWORTH

RS. 306.061 MILLION

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NETWORTH STATEMENT

MRS. SARLA R. VERMA

(RS. IN MILLION)

CAPITAL INVESTED IN BUSINESS

Name	Nature of Association	Address	Bank Borrowing and Address of Bankers	Investment Amount

Satyam Builders	Proprietorship	Abhishek Park, Vesu, Surat	Current Account with Surat National Cooperative Bank Limited	24.933

Satyam Eximtex Private Limited	Private Limited	L2/209, The Summit Business Bay, W.E. Highway, Vile Parle (East), Mumbai	SBBJ, Andheri (East) CC = Rs. 200.000 Million	67.650

Total				92.583

CAPITAL INVESTED IN ASSOCIATE CONCERNS

Name	Nature of Association	Address	Credit	Means

Satyam Weaving Industries Private Limited	Private Limited	Mumbai	0.050	Self

Satyam Agro Trade Private Limited	Private Limited	Mumbai	0.050	Self

Satyam Polyester Private Limited	Private Limited	Mumbai	7.050	Self

Total			7.150

ADVANCE TO PROMOTERS OTHER THAN CREDIT LIMITS WITH BANK

Name of Institution

Type of Loan

O/S Amount

BOI

Car Loan

5.200

IMMOVABLE PROPERTY

Properties	Address	Market Value (Amount in Million)

Land (Non-Agriculture)	Vesu, Surat	128.000

Total		128.000

RESIDENTIAL FLAT/ BUILDING/ OTHER BUILDINGS

Particulars	No. 1	No. 2	No. 3
Name and Shares of Owners/ Joint Owners	Self	Self	Self

Nature, tenement, flat, raw house	28 Residential Flat (Stock)	8 Commercial Shops	7 Residential Flats viz. #A-101/102, B-202/203 ##A-1001/1002, B-903

Location	Pooja Abhishek and Shiv Abhishek Apartment, Vesu, Surat	Pooja Abhishek Residency, Vesu, Surat	Shiv Nandan Residency, Vesu, Surat

Purchase Price	44.834	6.000	26.356

Present Market Value	145.664	35.000	72.911

Possession with	Self	Self	Self

Encumbrance, if any	Nil	Nil	Yes

# The properties A-101/102, B-202/203 are mortgaged with SBBJ, Andheri (East) as a guarantor for Satyam Eximtex Private Limited having Market Value Rs. 43.361 Million.

## The Properties A-1001/1002, B-903 are mortgaged with Central Bank of India, Andheri (East) as a guarantor for Manisha Enterprise having Market Value Rs. 29.550 Million.

DETAILS OF MOVABLE PROPERTIES

Nature of Assets	Amount in Million

Cash	0.177

Gold and Jewellery	13.836

Car – Audi Q-7	8.837

Car – Santro	0.320

Two-Wheeler	0.040

Capital Invested in Business/ Associate Concerns	99.733

Total	122.943

TOTAL VALUE OF ASSETS

RS. 504.518 MILLION

LESS:

Borrowing from Friends and Relatives	75.630

Borrowings from Other Bank and FI
Audi Car Loan	5.200

Total	80.830

NETWORTH

RS. 423.688 MILLION

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COMPANY PROFILE

JORNEY OF “ONJUS”

Tunip Agro Limited Incorporated in Sept, 2004 the company started under the with one flavor classic Onjus range with distribution in two cities namely Delhi and Mumbai.

Over the years, Tunip Agro Limited has grown from strength to strength, becoming the third largest brand in the fruit-based beverages market in the country. The company has been exponential growth and today offers 16 flavours under three different product range across India through over 3,00,000 retail outlets and 350 distributors.

2013 has been milestone year for the company with inauguration of Tunip Agro Limited's state of the arts manufacturing facility in Sri Lanka under its fully owned subsidiary, Tunip Lanka Private Limited. This is also the year that “Onjus” goes with the international expansion of distribution to neighbouring countries Nepal and Sri Lanka.

With the head office in Mumbai, Tunip Agro Limited has a team of over 200 driven professionals working across the length and breadth of India.

ONJUS – INTRODUCTION

ETL, then called as Enkay Synthetics, was started as a textile company in the early l980s. The company was involved in making, bleaching and dyeing of polyester yarn.

During 1988-89, with competition becoming fierce in textiles, Mr. Tulsidas Goyal (Founder of ETL) managing director of the company identified agro processing as a focus area. In 1990 Mr. Goyal set up a plant in Vapi in Gujarat state, to process guavas, mangoes and bananas into puree and concentrates.

Enkay synthetics was merged with the fruit processing unit and renamed as Enkay Texofoods Limited. The Company was successful in the export markets (Europe and Middle East) and some of its clients were Nestle, Unilever, Pepsi, coke and Heniz. ETL’s Fruit processing plant was approved by the US Food and Drugs Administration (FDA).

In May 1997, Onjus a 100% orange juice was launched by Enkay Texofood Limited (ETL) in the niche market of fruit juices and virtually created a new product category. By 1999, Onjus gained a 19% share in the tetra pack fruit beverages market.

However, the success of the Onjus seemed to be short lived. In 1999, the Director of General of Investigation Trade Practices Commissions (MRTPC) against onjus being sold as a natural fruit juice.

As a result, Onjus was not sold in the market for some time. Meanwhile, the competition in the market had heightened with the launch of PepsiCo's Tropicana.

Further, ETL's textile division, which was making losses, owed around Rs.870 Million to Financial Institutions (FIs) that asked the company to pledge the onjus and life brands against the loans.

To avoid the impending closure of its textile division, ETL channelled the cash flow from the food business into the textile business. This didn't well with the FIs and they decided against investing in the foods business, leading to the shutdown of both the divisions in early 2001.

For a traditional family run texturised yarn business, it was quite a giant leap for ETL diversify into a completely unrelated - food processing business in the FMCG segment.

ETL with knowhow from Henschel Export GMBH of Germany, a Thyssen Group Company, set up a plant to process guavas, mangoes and bananas into puree, concentrate and later to juices. ETL is a company of international repute having ISO 9002 certification and supplying processed fruits and pulps to companies like Heniz, Pepsi, Nestle, Unilever etc.

Launched in May 1997 in its very first year commanded and astounding 34% market share in the tetra pack juice segment. Rs.150.000 Million Sales were amounted from Mumbai and Pune alone, its first launch centres. With the help of Shamsika Marketing Consultants, the consultancy outfit advising ETL, onjus today commands a sale figure of Rs.1000.000 Million and more.

Onjus is the most successful brand of 1999 and this has encouraged the company to launch their second product, Life a mango based beverage.

In May 1997 ETL launched Onjus on a natural taste proposition. It was launched as an "On the move drink" in a 250 ml straw pack for outdoor consumption, with a tagline-"squeezed to please" ETL had done some preliminary research before launch of Onjus. Based on the finding from their research, Onjus 'was given a sweeter taste compared to the imported juices. But as the same time, an element of bitterness was retained to emphasize on the naturalness. Onjus used oranges from Florida and Brazil adding the Indian mandarin to suit Indian taste buds.

The pricing was also based on the market research study, which showed that volumes came from the Rs.5 - Rs.9 segment. Mr. Goyal decided to concentrate on the volumes and priced a 250 ml pack at Rs.9. through Onjus, ETL planned to drive the shift from carbonated drinks to natural juices. Natural juice was considered healthier than carbonated drinks. But, the quality of raw materials at the juice outlets prevented people from trying out natural juice. Thus, frequency of consumption was limited. ETL saw in this a business opportunity.

Onjus was an instant success and this was partially attributed to the first mover advantages. Its success was attributed to the ATA model of availability, taste and affordability, and to its distribution network. The network spanned 302 towns across the general stores, supermarkets and departmental stores. In April, 1998, Onjus doubled its capacity from 80000 to 160000 packs per day. By 1998, Onjus had become Rs.600 million brand and had also penetrated the thousand segment with its a 1 ltr tetra packs. In the same year, ETL increased the price of the 250 ml pack to Rs.12/-. The 1 ltr pack was sold at Rs.44/-. In early 1999, Onjus entered the institutional segment and was available in military canteens, hotels and clubs. Onjus was also served on some airlines during the flights.

In the early of 2011, Mr. Goyal and Family incorporated a Company by the name Tunip Lanka Private Limited (TLPL) in Colomic, Sri Lanka. The company is approved and registered with the board of investment of Sri Lanka (BOI). It is a 100% owned subsidiary of Tulip Agro Limited (TAL), India. The company was incorporated as part of setting up a manufacturing facility for TAL in Sri Lanka.

TLPL has set up a factory in Katunayake Export Processing Zone, near Colombo airport. The factory is located 30 km from Colombo city and 10 km from Colombo port.

TLPL bought a factory set up in 5 acres land. The old factory was completely demolished and a brand new structure set up. The layout as well as construction of factory has taken into account future expansion. The company can expand its existing capacity by 300% with close to zero civil construction. Unlike most facilities in India the company also has its own -20 degree C warehouse.

TLPL has brought the main plant equipment from Tetra Pack. The utility as well as the main plant equipment has been bought by meeting standards of multi-nationals. It has procured the latest and the most advanced technology that Tetra Pak has to offer. The facility can produce and package juice in two sizes using its two Tetra Pak filing machines i.e.1000 ML and 200 ML. The capacity of each of these machines is 6000 packs per hour and 7500 packs per hour. The total capacity of the factory is 46.8 million litres per year.

The utility equipment is from well renowned companies like 6rasso, Forbes Marshall, Atlas Copco, Sterling Wilson, etc. The manufacturing facility of the company has recently received ISO 22000 HACCP certifications and meets quality standards of world known fruit beverages facilities. Within this facility the company also has a product development and innovation centre where the company conducts research and development for existing and new products.

INDUSTRY OVERVIEW:

· India has witnessed radical shift in consumption of non - alcoholic drinks over the recent past with the fast expanding middle class population of 350 million people, increased urbanization and rising disposing income has being the key drivers.

· The country has a per capita consumption of less than 1 for juices and nectars, whereas a country like Brazil has per capita consumption of over 36. The Global average is 6. So with a population of 1.3 billion people, there is tremendous scope for growth in the juices and nectars industry.

· JNSD (Juices, Nectars, and Still Drinks) is 1.7 billion Liters with a CAGR of 18%.

· Juices contribute to 2% of the total market size.

· Nectar contributes to 10% of the total market size.

· This industry is projected to grow at a CAGR of 15% for the period 2012-2015

· The fruit based beverages industry is divided in four segments:

1. Juice: contains 10Oo/o fruit juice/ pulp content

2. Nectars: contains more than 25% of fruit juice/ pulp content

3. Fruit Drink: contains between 6%-25% fruit juice / pulp content

4. Snapples: contains less than 3%fruit juice/pulp content

· In India 57% of overall sales of FFSD (fruit-flavoured soft drinks) come from Lower town classes

· 60% of juices and Nectars sale come from metros

· FLP (Five Lakhs Plus towns have high growth potential)

FRUIT DRINK SEGMENT (FFSD)

The segment is the largest contributor in the JNSD industry.

Major players in this category are:

1. Frooti

2. Mango sip

3. Maaza

4. Slice

· The northern and southern regions of the India contribute 70% of overall FFSD.

· The sec C, D, and E towns have the highest consumption in this segment with metros contributing only 16% of overall consumption.

· lf they see the distribution channel-wise sale in this segment, then traditional trade contributes 93% of overall sale in this segment.

JUICES/NECTARS:

Nectars is the second largest contributor in the JNSD industry with almost 18% share, whereas Juices have 2% share

Major players in this category besides ONJUS ARE as follows:

· Dabur's Real

· Pepsi Co's Tropicana

NECTARS

Real	Market share 56%
Tropicana	Market share 34%

100% JUICES

Real	Market share 34%
Tropicana	Market share 56%

· In the JN category sec A and sec B town contribute majority of the sales with the metros leading the way

· Both Traditional Trade (TT) and Modern Trade (MT) have almost equal contribution in both these segments.

· In TT 5 markets contribute 77% share for JN where Maharashtra and Up are growing slower than category.

· In the MT segment 5 cities contribute 62% share.

· In the JNSD industry if looked as whole, then Mango as a flavor has the highest contribution. This is mainly because the FFSD segment is dominated by Mango Followed by Apple which is a distant second.

Major players in the JN segment:

· Earlier they have mentioned that Real and Tropicana are the biggest player in this category followed by ONJUS in third place.

· Dabur Real is the brand leader in this segment with market share of over 60%.

· They had revenues of Rs.6000.000 Million in FY 13. The overall JN segment is approximately Rs.11000.000 Million in size. With revenues of over Rs. 1080.000 Million in the last financial year, ONJUS has approximately 8% market share in this space.

· Below they will take a closer look at both these players along with their strategies.

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VALUATION REPORT

VALUATION REPORT OF THE PROPERTY (IN RESPECT OF LAND AND BUILDING)

VALUATION OF LAND AND BUILDING

Proposed Purchaser/ Client

Mr. Arvind Omprakash Varma

Name of Owner :

Sheetal Filaments Limited

Address :

Industrial Land and Building on Plot No. E, 65, Village Pipodra, Taluka Mangrol, District Surat, Gujarat, India

Previous valuation details

Valuation of land

Govt. Value

Land Area in sq. ft.	Rate in Rs.	Land value In Rs. Million
25920.00	65.97	1.710

Market Value

Land Area in sq. ft.	Rate in Rs.	Land value In Rs. Million
25920.00	1100.00	28.512

DETAILS OF VALUATION

Particular	Plinth area	Roof height	Age of building	Estimated replacement of rate of construction	Replacement cost	Depreciate d on	Net value after depreciation
Shed 1	10320	6 M.	4	1500	15.480	NIL	15.480
Shed 2	5791	6 M.	4	1500	8.687	NIL	8.687
R.C.C. Structure		3 M.	4	1500	7.066	NIL	7.066
Servants room	288	3 M.	4	1000	0.288	NIL	0.288
Store room	517	3 M.	4	1000	0.517	NIL	0.517
TOTAL					32.038		32.038

TOTAL ABSTRACT OF THE ENTIRE PROPERTY

Particulars

Government value

Market value

Distress Sale value

Land (Part A)

1.710

28.512

22.810

Building (Part B)

32.038

25.630

Extra Items

Included in the Building Valuation

Amenities

Miscellaneous

Services

Total

33.748

60.550

48.440

The Realizable value of the property	Rs. 54.495 Million

Insurable value of the property	Rs. 32.038 Million

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VALUATION REPORT

VALUATION REPORT OF THE PROPERTY (IN RESPECT OF LAND AND BUILDING)

VALUATION OF LAND AND BUILDING

Proposed Purchaser/ Client

Mr. Arvind Omprakash Varma

Name of Owner :

Rajasva Tex Private Limited

Address :

Plot No. F, 65, Village Pipodra, Taluka Mangrol, District Surat, Gujarat, India

Previous valuation details

Valuation of land

Govt. Value

Land Area in sq. ft.	Rate in Rs.	Land value In Rs. Million
32776.00	65.97	2.162

Market Value

Land Area in sq. ft.	Rate in Rs.	Land value In Rs. Million
32776.00	1100.00	36.054

DETAILS OF VALUATION

Particular	Plinth area	Roof height	Age of building	Estimated replacement of rate of construction	Replacement cost	Depreciate d on	Net value after depreciation
Shed 1	10878	6 M.	4	1500	16.317	NIL	16.317
Shed 2	7938	6 M	4	1500	11.907	NIL	11.907
R.C.C. Structure					0.000	NIL	0.000
R.C.C. Structure Double height-Ground Floor	2160	6 M.	4	1500	3.240	NIL	3.240
R.C.C. Structure Single height-Ground Floor	4646	3 M	4	1500	6.969	NIL	6.969
R.C.C. Structure Single height-First Floor	4646	3 M	4	1500	6.969	NIL	6.969
TOTAL					45.402		45.402

TOTAL ABSTRACT OF THE ENTIRE PROPERTY

Particular

Government value

Market value

Distress Sale value

Land

2.162

36.054

28.843

Building

45.402

36.322

Extra Items

Included in the Building Valuation

Amenities

Miscellaneous

Services

Total

47.564

81.456

65.164

The Realizable value of the property	Rs. 73.310 Million

Insurable value of the property	Rs.45.402 Million

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INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

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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 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.66.20
UK Pound	1	Rs.98.29
Euro	1	Rs.72.41

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	HNA

Report Prepared by :	JYTK

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.

MIRA INFORM REPORT

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

Unit