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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 1 MIRA INFORM REPORT Report Date : 1 5 . 0
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 1 MIRA INFORM REPORT Report Date : 1 5 . 0

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 1

MIRA INFORM REPORT

Report Date :

15.09.2009

IDENTIFICATION DETAILS

Name :

HALDIRAM SNACKS PRIVATE LIMITED

Formerly Known As :

HALDIRAM FOOD PRODUCTS LIMITED

Registered Office :

B – 1 / H – 3 Mohan Co-operative Industrial Estate, Mathura Road, New Delhi – 110 044

Country :

India

Financials (as on) :

31.03.2008

Date of Incorporation :

18.09.1989

Com. Reg. No.:

55-37732

CIN No.:

U74899DL1989PTC037732

[Company Identification No.]

TAN No.:

[Tax

Account No.]

Deduction

&

Collection

PAN No.:

[Permanent Account No.]

Legal Form :

Line of Business :

DELH01712E/ DELN04429F

AAACH0061R

Private Limited Liability Company.

Manufacturers and Marketing of Chips, Sweets, Papad and Snacks.

RATING & COMMENTS

MIRA’s Rating :

RATING

A (65)

STATUS

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

Maximum Credit Limit :

USD 2295000

Status :

Good

PROPOSED

CREDIT LINE

Fairly Large

Status : G o o d PROPOSED CREDIT LINE Fairly Large This report is issued at
Status : G o o d PROPOSED CREDIT LINE Fairly Large This report is issued at

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 2 Payment Behaviour : R e g u l a r
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 2 Payment Behaviour : R e g u l a r

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 2

Payment Behaviour :

Regular

Litigation :

Clear

Comments : Subject is a well established and a reputed company and a part of Haldiram Group, a renowned name in sweet and snacks industry. Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments.

The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

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

LOCATIONS

Registered Office / Factory :

B – 1 / H – 3 Mohan Co-operative Industrial Estate, Mathura Road, New Delhi – 110 044, India 91-11-28898011 / 28898010 91-11-28898016 / 28898014 snacks@haldiram.com haldirams@vsnl.com mla_haldiram@yahoo.co.in http://www.haldiram.com

Tel. No.:

Fax No.:

E-Mail :

Website :

 

DIRECTORS

Name :

Mr. Manohar Lal Agarwal Chairman cum Managing Director 7 B Rajnarain Road, Civil Lines, Delhi – 110054, India

Designation :

Address :

Date of Birth/Age :

30.10.1954

Date of Appointment :

01.10.2005

Name :

Mr. Anand Agarwal

Designation :

Managing Director

Address :

7 B, Rajnarain Road, Civil Lines, Delhi – 110054, India

Date of Birth/Age :

18.03.1978

Date of Appointment :

01.04.2003

Name :

Mr. Ashish Agarwal

Designation :

Whole Time Director

Address :

7 B, Rajnarain Road, Civil Lines, Delhi – 110054, India

Date of Birth/Age :

07.04.1983

Date of Appointment :

01.04.2004

Name :

Mr. Pankaj Agarwal

1 . 0 4 . 2 0 0 4 Name : Mr. Pankaj Agarwal This report
1 . 0 4 . 2 0 0 4 Name : Mr. Pankaj Agarwal This report

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 3 Designation : D i r e c t o r
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 3 Designation : D i r e c t o r

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 3

Designation :

Director

Address :

7 B, Rajnarain Road, Civil Lines, Delhi – 110054, India

Date of Birth/Age :

01.04.1977

Date of Appointment :

01.07.2006

Name :

Mr. Sanjay Kumar Singhania

Designation :

Director

Address :

9/ 402, B-9/3, Shakti Kunj Apartments, Sector – 62, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

02.05.1969

Date of Appointment :

28.09.2008

KEY EXECUTIVES

Name :

Ms. Rekha Sadana

Designation :

Company Secretary

Address :

28/ 53, West Patel Nagar, New Delhi – 110 008, India

Date of Birth/Age :

01.06.1974

Date of Appointment :

08.10.2003

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2008

Names of Shareholders

No. of Shares

Manohar Lal Agarwal

780000

Madhusudan Agarwal

780000

Anand Agarwal

780000

Sumitra Agarwal

770000

Manju Agarwal

660000

Amit Agarwal

780000

Pankaj Agarwal

780000

Preeti Agarwal

301607

Amisha Agarwal

430000

Ritu Agarwal

220000

Ashish Agarwal

540000

Umesh Agarwal

440000

Haldiram Exports Private Limited

136725

Haldiram Marketing Private Limited

75000

Haldiram Manufacturing Company Private Limited

3101668

Surya India Limited

425000

 

Total

11000000

As on 22.01.2009

Names of Allottees

No. of Shares

Haldiram Manufacturing Company Private Limited

1750000

Haldiram Manufacturing Company Private Limited 1750000 This report is issued at your request without any risk
Haldiram Manufacturing Company Private Limited 1750000 This report is issued at your request without any risk

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 4 Haldiram Exports Private Limited 175000
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 4 Haldiram Exports Private Limited 175000

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 4

Haldiram Exports Private Limited

175000

Haldiram Marketing Private Limited

175000

 

Total

2100000

As on 27.09.2008

Equity Share Breakup

Percentage of

Holding

Category Bodies corporate

34.00

Directors or relatives of directors

66.00

 

Total

100.00

BUSINESS DETAILS

Line of Business :

Manufacturers and Marketing of Chips, Sweets, Papad and Snacks.

GENERAL INFORMATION

No. of Employees :

About 1500

Bankers :

Indian Overseas Bank, Arun Vihar, AVCC, Sector – 37, Noida – 201 001, Uttar Pradesh, India

ABN Amro Bank N.V., Hansalaya Building, 15 Barakhamba Road, New Delhi – 110 001, India

Centurion Bank of Punjab Limited

 

Bank

of Punjab Limited,

B – 222/223,

Sector – 16, Noida, Uttar

 

Pradesh, India

 
 

ICICI Bank Limited, ICICI Bank Towers, Bandra Kurla Complex, Mumbai – 400 051, Maharashtra, India

ABN Amro Bank N.V., Hansalaya Building, 15, Barakhamba Road, New Delhi – 110 001, India

Facilities :

Secured Loans :

As on 31.03.2008 Rs. in Millions

From Bank

 

Term Loan

Term Loan (FCNRB) – Bank of Punjab

29.402

Term Loan ABN Amro US$ 5MN (ECB)

163.462

Term Loan ABN Amro Bank US$ 11 MN

196.036

ICICI Bank – Housing Loan

7.540

Standard Chartered Bank

85.500

Cash Credit Account with:

134.995

ABN Amro Bank CC A/c

ABN Amro Bank Buyer Credit

2.074

ICICI Bank – Car Loan (Secured against hypothecation of Car)

1.875

– Car Loan (Secured against hypothecation of Car) 1.875 This report is issued at your request
– Car Loan (Secured against hypothecation of Car) 1.875 This report is issued at your request

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 5 From Others Greater Noida Industrial Development
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 5 From Others Greater Noida Industrial Development

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 5

From Others Greater Noida Industrial Development Authority (Deferred installment on Industrial land allotted by GNIDA, secured against such land)

0.774

Loan - Noida Authority (Sec-67) (Deferred installment on Industrial land allotted by Noida Authority, secured against such land)

83.960

Noida Industrial Development Authority (C-62) (Deferred installment on Industrial land allotted by Noida Authority, secured against such land)

7.652

Total

713.270

Unsecured Loans :

As on 31.03.2008 Rs. in Millions

Loan from Directors and Relatives

58.468

Loan from Body Corporate

134.771

Total

193.239

Banking Relations :

Auditors :

--

Name :

P. R. Kumar and Company

Address :

Chartered Accountants U – 2, Green Park Main, New Delhi – 110 016, India

Associates/Subsidiaries :

Haldiram Marketing Private Limited

Haldiram India Private Limited

Haldiram Products Private Limited

Haldiram Trading Private Limited

Haldiram Exports Private Limited

Haldiram Manufacturing Company Private Limited

M. R. Equipment and Warehouse Private Limited

H.R. Overseas Limited

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares

Type

Value

Amount

15000000

Equity Shares

Rs.10/- each

Rs.150.000 millions

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

11000000

Equity Shares

Rs.10/- each

Rs.110.000

 

millions

Shares Rs.10/- each Rs.110.000   millions This report is issued at your request without any risk
Shares Rs.10/- each Rs.110.000   millions This report is issued at your request without any risk

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 6 (Out of which 374662 Equity share of Rs.10/- each
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 6 (Out of which 374662 Equity share of Rs.10/- each

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 6

(Out of which 374662 Equity share of Rs.10/- each allotted to the shareholder of Competent Indexpo Limited pursuant to scheme of amalgamation.)

Indexpo Limited pursuant to scheme of amalgamation.) This report is issued at your request without any
Indexpo Limited pursuant to scheme of amalgamation.) This report is issued at your request without any

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 7 FINANCIAL DATA [all figures are in Rupees Millions]
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 7 FINANCIAL DATA [all figures are in Rupees Millions]

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 7

FINANCIAL DATA [all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS

31.03.2008

31.03.2007

31.03.2006

SHAREHOLDERS FUNDS 1] Share Capital

110.000

110.000

110.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

348.939

279.252

226.372

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

458.939

389.252

336.372

LOAN FUNDS 1] Secured Loans

713.270

541.332

254.345

2] Unsecured Loans

193.239

180.330

114.712

TOTAL BORROWING

906.509

721.662

369.057

DEFERRED TAX LIABILITIES

34.232

19.280

26.771

TOTAL

1399.680

1130.194

732.200

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]

1223.557

708.323

657.756

Capital work-in-progress

86.633

301.663

52.880

INVESTMENT

15.198

2.145

2.145

DEFERREX TAX ASSETS

0.000

0.000

0.000

CURRENT ASSETS, LOANS & ADVANCES Inventories

184.104

129.552

91.855

Sundry Debtors

15.732

16.081

9.368

Cash & Bank Balances

26.535

74.190

42.045

Other Current Assets

0.000

0.000

0.000

Loans & Advances

144.302

101.307

45.762

Total Current Assets

370.673

321.130

189.030

Less : CURRENT LIABILITIES & PROVISIONS Current Liabilities

139.530

84.320

111.488

Provisions

160.765

123.453

63.620

Total Current Liabilities

300.295

207.773

175.108

Net Current Assets

70.378

113.357

13.922

MISCELLANEOUS EXPENSES

3.914

4.706

5.497

TOTAL

1399.680

1130.194

732.200

4.706 5.497 TOTAL 1399.680 1130.194 732.200 This report is issued at your request without any risk
4.706 5.497 TOTAL 1399.680 1130.194 732.200 This report is issued at your request without any risk

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 8 PROFIT & LOSS ACCOUNT PARTICULARS 31.03.2008
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 8 PROFIT & LOSS ACCOUNT PARTICULARS 31.03.2008

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 8

PROFIT & LOSS ACCOUNT

PARTICULARS

31.03.2008

31.03.2007

31.03.2006

Sales Turnover & Other Income

1941.312

1630.885

1167.552

Total Income

1941.312

1630.885

1167.552

Profit/(Loss) Before Tax

113.282

86.806

78.652

Provision for Taxation

44.651

33.926

26.935

Profit/(Loss) After Tax

68.631

52.880

51.717

Imports :

Capital Goods

16.446

19.678

22.619

Packing Materials

4.661

3.693

4.897

Stores & Spares

0.951

1.023

2.867

Raw Material

0.210

0.000

0.000

Total Imports

22.268

24.394

30.383

Expenditures :

Depreciation & Amortization

80.037

75.997

58.090

Other Expenditure

1747.993

1468.082

1030.810

Total Expenditure

1828.030

1544.079

1088.900

Earnings Per Share (Rs.)

6.26

4.80

NA

 

KEY RATIOS

PARTICULARS

31.03.2008

31.03.2007

31.03.2006

PAT / Total Income

(%)

3.54

3.24

4.43

Return on Total Assets (PBT/Total Assets}

(%)

7.11

8.43

9.29

Return on Investment (ROI) (PBT/Networth)

0.25

0.22

0.23

Debt Equity Ratio (Total Liability/Networth)

2.63

2.39

1.62

Current Ratio (Current Asset/Current Liability)

1.23

1.55

1.08

LOCAL AGENCY FURTHER INFORMATION

REVIEW OF OPERATION AND FUTURE OUTLOOK:

The Company has achieved an impressive growth wherein the turnover of the company grew by around 19% in the current year in comparison to the corresponding previous year which was achieved partially due to success of

previous year which was achieved partially due to success of This report is issued at your
previous year which was achieved partially due to success of This report is issued at your

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 9 the restaurant at “SPICE WORLD” I-2, Sector –
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 9 the restaurant at “SPICE WORLD” I-2, Sector –

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 9

the restaurant at “SPICE WORLD” I-2, Sector – 25A, Noida. They have opened a new Restaurant cum Showroom in the current financial year also.

This form is for

Modification of charge

Charge identification number of the modified

10044159

 

Corporate identity number of the company

U74899DL1989PTC037732

Name of the company

HALDIRAM SNACKS PRIVATE LIMITED

Address of the registered office or of the principal place of business in India of the company

B – 1 / H – 3 Mohan Co-operative Industrial Estate, Mathura Road, New Delhi – 110 044, India

Type of charge

Immovable Property Book Debts Others (Stocks and Movable Fixed Assets)

Particular of charge holder

ABN Amro Bank N.V., Hansalaya Building, 15, Barakhamba Road, New Delhi – 110 001, India E-Mail: jaganath@gjai.net

Nature of description of the instrument creating or modifying the charge

Memorandum of Entry.

Date of instrument Creating the charge

19.03.2009

 

Amount secured by the charge

Rs.600.000 millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest: Interest / such other rate as may be prescribed by the bank from time to time.

Terms of Repayment: OD – Repayable on demand STPLR/ FCNR (B) Loans – Maximum 6 months LC (Validity/ Usance) Maximum 6 months each BG – Maximum 8 years including claim period ECB Term Loan of USD 5 Million – In 20 equal quarterly installments commencing at the end of 3 months from individual drawdwn date and as advised by ABN Amro Bank N.V. from time to time.

Margin: The company shall maintain such margin as may be specified by the bank from time to time.

Extent and Operation of the charge: 100%

Others: ABN – Working Capital Facilities of INR 150 millions Off balance sheet items of USD 4 millions (Equivalent to INR 200 millions) ECB Term Loan Facility of USD 5 millions (Equivalent to INR 250 millions)

Centurion Bank of Punjab – Term Loan of USD 0.712 million (Equivalent to INR 35.60 millions) Bank Guarantee of INR 25 millions.

Short particulars of the property charged

1. Hypothecation of stocks and book debts on first pari passu basis with other lenders.

2. 1

st

exclusive charge by way of hypothecation on

the moveable fixed assets, situated at Block – B, Plot No.14 and 15, Sector – 63, Noida.

at Block – B, Plot No.14 and 15, Sector – 63, Noida. This report is issued
at Block – B, Plot No.14 and 15, Sector – 63, Noida. This report is issued

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 10   3. 1 s t pari passu charge by way
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 10   3. 1 s t pari passu charge by way

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 10

 

3. 1 st pari passu charge by way of hypothecation on the moveable fixed assets, situated at Block – B, Plot No.1, Sector – 63, Noida and

4. 1 st pari passu charge by way of Equitable Mortgage on the on the Immovable property, situated at Block – B, Plot No.1, Sector – 63, G.B. Nagar, Uttar Pradesh.

Date

of

latest

modification

prior

to

the

present

21.02.2009

modification

 

Name of the company

HALDIRAM SNACKS PRIVATE LIMITED

 
 

Presented By

Mr. Manohar Lal Agarwal, Director

 

1) Date and description of instrument creating the change

05.12.2003. Agreement of Cash Credit Agreement of Hypothecation of Books Debts and Letter of Hypothecation all dated 05.12.203. the charge was registered with Registrar of Companies on 05.01.2004

2) Amount secured by the charge/amount owing on the securities of charge

Total Fund Based and Non-Fund Based Limit of Rs. 58.000 Millions as per details as follows

Fund Based Cash Credit Rs. 40.000 Millions

 

Non-Fund Based Foreign Letter of Credit : Rs. 3.000 Millions Bank Guarantee : Rs. 15.000 Millions

 

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation of current assets of the company. Both present and future, including in particulars stocks of raw materials, stock-in-process and finished goods, stores, packing materials etc. by way of first charge.

Collateral Security Corporate Guarantee of Haldiram Manufacturing Company Private Limited and Haldiram Products Private Limited

Personal Guarantees of Mr. Manohar Lal Agarwal, Madhusudan Agarwal, Mrs. Sumitra Agarwal, Mr. Pankaj Agarwal and Mr. Anand Agarwal

4) Gist of the terms and conditions and extent and operation of the charge.

The rate of Interest on Cash Credit Limit of Rs. 40.000 Millions shall be charged at 3.5 % below BOPPLR i.e. 9 % p.a. with monthly rest. Commission on LC Limit will be 50 % of Bank / FEDA rules / guidelines. On BG Limit Commission of 0.75 % shall be as per Sanction Letter of the bank dated 25.11.2003

5) Name and Address and description of the person entitled to the charge.

Bank of Punjab Limited B – 222/223, Sector – 16, Noida, Uttar Pradesh

 

6) Date

and brief description of instrument modifying

30.05.2005.

Equitable

Mortgage

by deposit

of

title

the charge

deeds

was

created.

Memorandum

of

Equity

was

entered

into

between

Indian

Overseas

Bank

and

into between Indian Overseas Bank and This report is issued at your request without any risk
into between Indian Overseas Bank and This report is issued at your request without any risk

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 11   Haldiram Snacks Private Limited, the borrower
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 11   Haldiram Snacks Private Limited, the borrower

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 11

 

Haldiram Snacks Private Limited, the borrower acting

for itself and as agent of Bank of Punjab Limited in pursuance of Letter of Indian Overseas Bank of Punjab Limited vide their letter dated 07.05.2005 and

27.05.2005

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

The Equitable Mortgage by deposit of title deeds was created. The title deeds, which were already deposited with Indian Overseas Bank shall continue to hold the title deeds for itself an as an agent of Bank of Punjab.

Vide Memorandum of Entry dated 30.05.2005. Indian Overseas bank ceded pari-passu charge on fixed assets of the company in favour of Bank of Punjab Limited on fixed assets of the company already charged with them.

Bank of Punjab Limited has also ceded II Charge on current assets of the company already charged with the Bank of Punjab Limited in favour of Indian Overseas Bank.

This form is for

Creation of charge

Corporate identity number of the company

U74899DL1989PTC037732

Name of the company

HALDIRAM SNACKS PRIVATE LIMITED

Address of the registered office or of the principal place of business in India of the company

B

– 1 / H – 3 Mohan Co-operative Industrial Estate,

Mathura Road, New Delhi – 110044, India

Type of charge

Movable Property

Particular of charge holder

ABN AMRO Bank N. V. Hansalaya Building 15, Barakhamba Road, New Delhi – 110001 jaganath@cpspl.net

Nature of description of the instrument creating or modifying the charge

Deed of Hypothecation of moveable Fixed assets and Term Loan Facility Agreement.

Date of instrument Creating the charge

09.01.2007

Amount secured by the charge

Rs. 598.000 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest 3 months LIBOR + 150 bpps p.a. payable Quarterly.

Terms of repayment

In

20 quarterly installments commencing from the 3 rd

moth from the date in individual drawdown.

Margin The company shall maintain such margin as may be specified by the bank from time to time.

Extent operation of the charge

In

case the company fails to fulfill its obligation under

the agreement, the bank shall be entitled to take possession of the hypothecated properties and sell

to take possession of the hypothecated properties and sell This report is issued at your request
to take possession of the hypothecated properties and sell This report is issued at your request

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 12   them by public auction or private contract
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 12   them by public auction or private contract

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 12

 

them by public auction or private contract and utilize the proceeds in full or part settlement of its claims.

Others The above charge to secure total ECB Limit of USD 11 Million and OBSI Limit of USD 2 Million [Equivalent to INR 5980 Lacs]

Short particulars of the property charged

1 st Exclusive charge on the Movable Fixed Assets situated at Block B, Plot A – 14 & 15, Sector 63, Noida, UP and 1 st Pari Passu charge on the Moveable Fixed Assets situated at Block B, Plot A – 14 & 15, Sector 63, Noida, UP

CONTINGENT LIABILITIES: (As on 31.03.2008)

1.

The Company has imported Capital goods under the Export Promotion Capital Goods Scheme, of the Government of India, at concessional rates of duty on an undertaking to fulfill quantified exports against which remaining future obligations aggregates USD 16921120.94. Non fulfillment of the balance of such future obligations, if any, entails options/ rights to the Government to confiscate capital goods imported under the said licenses and other penalties under the above referred scheme, minimum export obligation to be fulfillment by the Company under said scheme, by 31 st March, 2008 has been fulfilled.

2.

Amount of contract remaining to be executed on capital account and not provided for, to the extent of Rs.81.610 millions (net of advances).

3.

Contingent liability on account of letter of credit issued by Bank aggregating to Rs.17.704 millions and Bank Guarantee aggregating to Rs.17.975 millions.

4.

The company has outstanding guarantees of Rs.125.485 millions as at 31at March, 2008 in respect of the loan facility given by the bank to the following parties:

S. No.

 

In favour of

Amount (Rs. in millions)

Nature of Facility

1

Haldiram

Marketing

(Private)

10.000

Cash Credit and letter of Credit/ Bank Guarantee

Limited

2

Haldiram Products (Private) Limited

10.000

Cash Credit – Rs.10.000 millions

3

Haldiram Educational Society

15.485

Bank Guarantee

4

Surya India Limited

 

90.000

Term Loan

4 Surya India Limited   90.000 Term Loan This report is issued at your request without
4 Surya India Limited   90.000 Term Loan This report is issued at your request without
4 Surya India Limited   90.000 Term Loan This report is issued at your request without

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 13 CMT REPORT (Corruption, Money Laundering &
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 13 CMT REPORT (Corruption, Money Laundering &

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 13

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.

Report : No press reports / filings exists on the subject. This report is issued at
Report : No press reports / filings exists on the subject. This report is issued at

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 14 CORPORATE GOVERNANCE MIRA INFORM as part of its Due
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 14 CORPORATE GOVERNANCE MIRA INFORM as part of its Due

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 14

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.48.70

UK Pound

1 Rs.80.70

Euro

1 Rs.70.73

1 Rs.48.70 UK Pound 1 Rs.80.70 Euro 1 Rs.70.73 This report is issued at your request
1 Rs.48.70 UK Pound 1 Rs.80.70 Euro 1 Rs.70.73 This report is issued at your request

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 15 SCORE & RATING EXPLANATIONS SCORE FACTORS RANGE
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 15 SCORE & RATING EXPLANATIONS SCORE FACTORS RANGE

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 15

SCORE & RATING EXPLANATIONS

SCORE FACTORS

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE FINANCIAL CONDITION

1~10

7

--BUSINESS SCALE

1~10

8

--PROFITABILIRY

1~10

8

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

7

--MARGINS DEMERIT POINTS

-5~5

-

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS --SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

65

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%) Credit history (10%)

Ownership background (20%) Market trend (10%)

Payment record (10%) Operational size (10%)

trend (10%) Payment record (10%) Operational size (10%) This report is issued at your request without
trend (10%) Payment record (10%) Operational size (10%) This report is issued at your request without

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HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 16 RATING EXPLANATIONS RATING STATUS PROPOSED CREDIT
HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC PAGE NO. : 16 RATING EXPLANATIONS RATING STATUS PROPOSED CREDIT

HALDIRAM_SNACKS_PRIVATE_LIMITED_-_87992_15-SEP-2009.DOC

PAGE NO. : 16

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

Satisfactory

 

commitments.

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

recommended

No Rating

which to recommend credit dealings recommended No Rating This report is issued at your request without
which to recommend credit dealings recommended No Rating This report is issued at your request without

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Directory:

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Template:

C:\Documents and Settings\Home\Application

Data\Microsoft\Templates\Normal.dotm

Title:

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Subject:

Author:

Chirag Sangani

Keywords:

Comments:

Creation Date:

9/15/2009 10:46:00 AM

Change Number:

198

Last Saved On:

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