MIRA INFORM REPORT

Report No. :	301941
Report Date :	08.01.2014

IDENTIFICATION DETAILS

Name :	AMRAPALI BIOTECH INDIA PRIVATE LIMITED
Registered Office :	Office No.38, C-Block, DDA Market, Suraj Mal Vihar, Delhi – 110092
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	13.09.2007
Com. Reg. No.:	55-168163
Capital Investment / Paid-up Capital :	Rs.75.000 Millions
CIN No.: [Company Identification No.]	U24100DL2007PTC168163
TIN No.:	Not Available
IEC No.:	0507090292
TAN No.: [Tax Deduction & Collection Account No.]	DELA20854B
PAN No.: [Permanent Account No.]	AAGCA5703P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, supplier and exporter of confectionery products, corn flakes, flavored corn flakes, fruit jams, mango pickles etc.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 209000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. As per ROC the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the document related to the financial for the year 2014 are not available from any sources. As per available financial of 2013, the company seems to be incurred some accumulated losses. However, trade relations are reported as 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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	CARE
Rating	Long Term Bank Facilities = B+ (Suspended)
Rating Explanation	High risk of default
Date	28.10.2013

Reason for Suspension: Non-Cooperation by the company to carry out rating.

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Hemant
Designation :	Deputy Finance Manager
Contact No.:	91-120-4198300
Date :	07.01.2014

LOCATIONS

Registered Office :	Office No.38, C-Block, DDA Market, Suraj Mal Vihar, Delhi – 110092, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	anilmittal@caanilajayco.com wca123@rediffmail.com
Website :	http://www.amrapalibiotech.com
Head Office / Correspondence Office / Marketing Office :	1/3, Vaibhav Khand, Indirapuram, Near Shipra Mall on NH 24, Ghaziabad – 201010, Uttar Pradesh, India
Tel. No.:	91-120-4198302 / 4198328 / 4198313 / 4198303 / 4198325 / 4198300
Fax No.:	91-120-4124381
E-Mail :	hr@amrapalibiotech.com
Area :	3000 Sq. ft.
Location :	Owned

DIRECTORS

As on 30.09.2014

Name :

Mr. Sanjeev Kumar Singh

Designation :

Director

Address :

C 403, Amrapali Green, 1/3 Vaibhav Khand, Indirapuram, Ghaziabad - 201010, Uttar Pradesh, India

Date of Birth/Age :

12.09.1969

Date of Appointment :

30.09.2011

DIN No.:

03599509

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	U24100DL2007PTC168163	AMRAPALI BIOTECH INDIA PRIVATE LIMITED	Director	30/09/2011	16/08/2011	-	Active	NO
2	U15499DL2012PTC229686	MUMS MEGA FOOD PARK PRIVATE LIMITED	Director	05/01/2012	05/01/2012	-	Active	NO

Name :

Mr. Sunil Kumar

Designation :

Director

Address :

C-1001, Gateway Tower, Sector-4,Vaishali, Ghaziabad - 201010, Uttar Pradesh, India

Date of Birth/Age :

23.02.1967

Date of Appointment :

15.10.2013

DIN No.:

06710514

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	U70101DL2010PTC203597	GAURISUTA BUILDHOME PRIVATE LIMITED	Director	15/10/2013	15/10/2013	-	Active	NO
2	U15499DL2012PTC229686	MUMS MEGA FOOD PARK PRIVATE LIMITED	Director	15/10/2013	15/10/2013	-	Active	NO
3	U70101DL2010PTC203880	GAURISUTA INFRASOLUTION PRIVATE LIMITED	Director	15/10/2013	15/10/2013	-	Active	NO
4	U24100DL2007PTC168163	AMRAPALI BIOTECH INDIA PRIVATE LIMITED.	Director	15/10/2013	15/10/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Hemant
Designation :	Deputy Finance Manager

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Sunita Kumari	148500	1.98
Seema Kumari	2500	0.03
Rinku Computech Private Limited, India	2394000	31.92
Ramakant Pandey	5000	0.07
Ultra Home Construction Private Limited, India	4950000	66.00
Total	7500000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	96.88
Directors or relatives of Directors	3.02
Other top fifty shareholders	0.10
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, supplier and exporter of confectionery products, corn flakes, flavored corn flakes, fruit jams, mango pickles etc.
Products :	Confectionery Products Corn Flakes Flavored Corn Flakes Fruit Jams Mango Pickles
Brand Names :	“MUM'S”
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :	Not Divulged
Customers :	Not Divulged
No. of Employees :	Information denied by management
Bankers :	Bank of Maharashtra, Indirapuram, Ghaziabad - 201010, Uttar Pradesh, India Oriental Bank of Commerce, Chhoti Saraiyaganj, Muzaffarpur, Muzaffarpur - 842001, Bihar, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Anil Ajay and Company Chartered Accountants
Address :	Office No.37, C-Block, DA Market, Surahmal Vihar, Delhi, India
PAN No.:	AAGFA7406A
Memberships :	--
Collaborators :	--
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
7500000	Equity Shares	Rs.10/- each	Rs.75.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7500000	Equity Shares	Rs.10/- each	Rs.75.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	75.000	12.600	0.100
(b) Reserves & Surplus	(1.771)	1.137	0.796
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	12.500
Total Shareholders’ Funds (1) + (2)	73.229	13.737	13.396
(3) Non-Current Liabilities
(a) long-term borrowings	174.219	79.894	25.307
(b) Deferred tax liabilities (Net)	3.267	0.011	0.001
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	177.486	79.905	25.308
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	20.819	10.951	6.249
(c) Other current liabilities	249.823	133.455	54.730
(d) Short-term provisions	0.172	0.463	0.446
Total Current Liabilities (4)	270.814	144.869	61.425
TOTAL	521.529	238.511	100.129
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	227.039	119.122	13.177
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.048	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	23.905	7.037	2.025
Total Non-Current Assets	250.992	126.159	15.202
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	87.548	61.490	48.003
(c) Trade receivables	45.958	29.574	21.179
(d) Cash and cash equivalents	14.032	13.705	0.800
(e) Short-term loans and advances	122.999	7.583	14.945
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	270.537	112.352	84.927
TOTAL	521.529	238.511	100.129

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	102.395	72.300	43.723
Less	EXPENSES		101.583	71.759	43.297
	PROFIT/(LOSS) BEFORE TAX		0.812	0.541	0.426
Less	TAX		NA	0.201	0.144
	PROFIT/(LOSS) AFTER TAX		NA	0.340	0.282
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.137	0.797	0.515
	BALANCE CARRIED TO THE B/S		NA	1.137	0.797

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	0.16	0.23	0.43
Return on Investment (ROI) (PBT/Networth)		0.01	0.04	0.03
Debt Equity Ratio (Total Debt /Networth)		2.38	5.82	1.89
Current Ratio (Current Asset/Current Liability)		1.00	0.78	1.38

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	0.100	12.600	75.000
Reserves & Surplus	0.796	1.137	(1.771)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	12.500	0.000	0.000
Net worth	13.396	13.737	73.229
Long Term borrowings	25.307	79.894	174.219
Short Term borrowings	0.000	0.000	0.000
Total borrowings	25.307	79.894	174.219
Debt/Equity ratio	1.889	5.816	2.379

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Total Income	43.723	72.300	102.395
		65.359	41.625

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Total Income	43.723	72.300	102.395
Profit Before Tax	0.426	0.541	0.812
	0.97%	0.75%	0.79%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	No
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

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
LONG TERM BORROWINGS
Rupee term loans from banks	117.059	54.544
Loans taken for fixed assets	57.160	25.350
Total	174.219	79.894

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10285167	28/02/2013 *	248,300,000.00	Oriental Bank of Commerce	Chhoti Saraiyaganj,, Muzaffarpur, Muzaffarpur, Bihar - 842001, India	B71707095
2	10126013	28/02/2013 *	225,000,000.00	Oriental Bank of Commerce	Chhoti Saraiyaganj,, Muzaffarpur, Muzaffarpur, Bihar - 842001, India	B71704019

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.93.45
UK Pound	1	Rs.95.99
Euro	1	Rs.75.28

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	2
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.