MIRA INFORM REPORT

Report No. :	324225
Report Date :	05.06.2015

IDENTIFICATION DETAILS

Name :	JAI DURGA FOOD INDUSTRIES PRIVATE LIMITED

Registered Office :	3/19, Juna Lakhanpur, Lakhanpur – 497116, Chhattisgarh
Tel. No.:	91-8042965534 (Mr. Rajendra Agarwal)

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	14.01.2013

Com. Reg. No.:	10-000696

Capital Investment / Paid-up Capital :	Rs. 10.000 Million

CIN No.: [Company Identification No.]	U15323CT2013PTC000696

IEC No.:	Not Available

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

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Trader of Liquid Glucose, Maltodextrin and Rice Gluten.

No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a newly established company incorporated during the year 2013, dealing into manufacturing and trading of liquid glucose, maltodextrin and rice gluten. Even though the company has incorporated from 2013, it has commenced its business operations from August 2014. Mr. Rajendra Agrawal the director of the company has provided all the information. As per the financial of 2014 the company has taken huge borrowings so the trade record given can be moderate. Trade relation are Improving. Business is active. Payment terms are unknown. In view of recent commencement of the business, the company can be considered for business dealings on safe and secure trade with some cautions.

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

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) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Rajendra Agarwal
Designation :	Director
Contact No.:	91-8042965534
Date :	28.05.2015

LOCATIONS

Registered Office :	3/19, Juna Lakhanpur, Lakhanpur – 497116, Chhattisgarh, India
Tel. No.:	Not Available
Mobile No.:	91-8042965534 (Mr. Rajendra Agarwal)
Fax No.:	Not Available
E-Mail :	jaidurgafood@gmail.com
Website :	http://www.juidurgafood.com

Factory :	Village Kunwarpur, Lakhanpur, Surguja, Bilaspur - 497116, Chhattisgarh, India

DIRECTORS

Name :

Mr. Jagannath Agrawal

Designation :

Director

Address :

88, Juna Lakhanpur – 1, P.O.: Ambikapur, District Surguja – 497001, Chhattisgarh, India

Date of Birth/Age :

04.05.1940

Date of Appointment :

14.01.2013

DIN No. :

00777869

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	U15143CT2004PTC016989	JAI DURGA OIL EXTRACTION PRIVATE LIMITED	Director	27/09/2004	27/09/2004	-	Active	NO
2	U15323CT2013PTC000696	JAI DURGA FOOD INDUSTRIES PRIVATE LIMITED	Director	14/01/2013	14/01/2013	-	Active	NO

Name :

Mr. Anil Kumar Agrawal

Designation :

Director

Address :

88, Juna Lakhanpur – 1, P.O.: Ambikapur, District Surguja – 497001, Chhattisgarh, India

Date of Birth/Age :

05.03.1966

Date of Appointment :

14.01.2013

DIN No. :

00777825

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	U15143CT2004PTC016989	JAI DURGA OIL EXTRACTION PRIVATE LIMITED	Director	27/09/2004	27/09/2004	-	Active	NO
2	U15323CT2013PTC000696	JAI DURGA FOOD INDUSTRIES PRIVATE LIMITED	Director	14/01/2013	14/01/2013	-	Active	NO

Name :

Mr. Rajendra Kumar Agrawal

Designation :

Director

Address :

88, Juna Lakhanpur – 1, P.O.: Ambikapur, District Surguja – 497001, Chhattisgarh, India

Date of Birth/Age :

01.09.1973

Date of Appointment :

14.01.2013

DIN No. :

00777931

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	U15143CT2004PTC016989	JAI DURGA OIL EXTRACTION PRIVATE LIMITED	Director	27/09/2004	27/09/2004	-	Active	NO
2	U15323CT2013PTC000696	JAI DURGA FOOD INDUSTRIES PRIVATE LIMITED	Director	14/01/2013	14/01/2013	-	Active	NO

Name :

Mr. Harvind Kumar Agrawal

Designation :

Director

Address :

88, Juna Lakhanpur – 1, P.O.: Ambikapur, District Surguja – 497001, Chhattisgarh, India

Date of Birth/Age :

14.06.1970

Date of Appointment :

14.01.2013

DIN No. :

00777897

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	U15143CT2004PTC016989	JAI DURGA OIL EXTRACTION PRIVATE LIMITED	Director	27/09/2004	27/09/2004	-	Active	NO
2	U15323CT2013PTC000696	JAI DURGA FOOD INDUSTRIES PRIVATE LIMITED	Director	14/01/2013	14/01/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Anil Kumar Agrawal	255000	25.50
Harvind Kumar Agrawal	255000	25.50
Jagannath Agrawal	235000	23.50
Rajendra Kumar Agrawal	255000	25.50
Total	1000000	100.00

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Liquid Glucose, Maltodextrin and Rice Gluten.

Products :	Liquid Glucose Maltodextrin Rice Gluten.

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Cash, L\C and Credit

Purchasing :	Cash, L\C and Credit

PRODUCTION STATUS : Not Available

GENERAL INFORMATION

Suppliers :

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

Customers :

Reference :	H.M. Shah and Company, Indore
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 :

50 (Approximately)

Bankers :

Banker Name	Central Bank of India
Branch Address	Lakhanpur, Bilaspur - 497116, Chhattisgarh, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
I/L A/c Central Bank of India	60.212	0.000
Total	60.212	0.000


Auditors :
Name :	Sushil and Surendra Chartered Accountants
Address :	1^st Floor, bank of Baroda Buildin, Link Road, Bilaspur – 495001, Chhattisgarh, India
PAN No.:	AAXFS5480R

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

After 30.09.2014

Authorised Capital : Rs. 40.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 18.300 Million

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

1000000	Equity shares	Rs. 10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

1000000	Equity shares	Rs. 10/- each	Rs. 10.000 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	10.000	7.100
(b) Reserves & Surplus	0.000	0.000
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	10.000	7.100

(3) Non-Current Liabilities
(a) long-term borrowings	60.213	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	14.299	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	74.512	0.000

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	7.303	0.403
(c) Other current liabilities	0.000	0.000
(d) Short-term provisions	0.264	0.008
Total Current Liabilities (4)	7.567	0.411

TOTAL	92.079	7.511

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	75.343	2.405
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	2.360	0.000
Total Non-Current Assets	77.703	2.405

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1.393	0.210
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	5.206	0.000
(e) Short-term loans and advances	3.273	4.611
(f) Other current assets	4.504	0.285
Total Current Assets	14.376	5.106

TOTAL	92.079	7.511

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013

	TOTAL INCOME	0.000	0.000

Less	TOTAL EXPENSES	0.000	0.000

	PROFIT/ (LOSS) BEFORE TAX	0.000	0.000

Less	TAX	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX	0.000	0.000

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

Current Maturities of Long term debt

Cash generated from operations

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013
Debt Equity Ratio (Total Liability/Networth)	6.02	0.00

Current Ratio (Current Asset/Current Liability)	1.90	12.42

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	7.100	10.000
Reserves & Surplus	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	7.100	10.000

long-term borrowings	0.000	60.213
Short term borrowings	0.000	0.000
Total borrowings	0.000	60.213
Debt/Equity ratio	0.000	6.021

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	Yes
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	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	Yes
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 two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last two years	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

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10522235	18/07/2013	85,000,000.00	CENTRAL BANK OF INDIA	LAKHANPUR BRANCH, AMBIKAPUR, SURGUJA, Chhattisgarh - 497116, INDIA	C05961768

* Date of charge modification

FIXED ASSETS

Building Under construction
Computer and Alied Products
Plant and Machinery

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 Ati-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. 64.18
UK Pound	1	Rs. 98.30
Euro	1	Rs. 72.25

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	TRI

Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	--
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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		12

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.

MIRA INFORM REPORT

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