MIRA INFORM REPORT

Report Date :

09.04.2011

IDENTIFICATION DETAILS

Name :	JUNO IMPEX
Registered Office :	F – 39, Sector 11, Noida – 201301, Uttar Pradesh
Country :	India
Financials (as on) :	31.01.2011 (Provisional)
Year of Establishment :	2000
TIN No.:	09965708059
PAN No.: [Permanent Account No.]	AAIPC3319G
Legal Form :	Sole Proprietory Concern.
Line of Business :	Manufacturing of Ladies Accessories include all kinds of Bags, Coin Purses, Belts, Scarves, Stoles, Hats, Bag Charms and Hair Accessories.

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear
Comments :	Subject seems to be an established concern in its field. Trade relations are reported as fair. No valuation report has been provided as the concern has not provided any collateral securities. The networth statement however seems to be acceptable. No complaints have been heard from indirect or market sources. 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Vinod
Designation :	Chartered Accountant
Contact No.:	91-9873204611
Date :	31.03.2011

LOCATIONS

Registered Office :	F – 39, Sector 11, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-4270970/ 4319115-16
Mobile No.:	91-9873204611 (Mr. Vinod) 91-9810223436 (Mrs. Namita)
E-Mail :	manish_cbe@rediffmail.com namitachopra@junoimpex.com
Area :	416 sq. meters
Location :	Rented

SOLE PROPRIETOR

Name :	Mrs. Namita Chopra
Designation :	Proprietor
Date of Birth/Age :	44 years
Qualification :	1989 - Post Graduate Diploma in Computer Programming / Systems Analysis - N.I.I.T., Delhi. 1988 - BA. (Economics/ Commerce) from Maharashtra University. 1985 - S.S.C. from Bombay University.
Work Experience :	2000 to Date: Successfully running M/s Juno Impex in exports of Ladies Accessories. 1995-2000 : General Manager of a Buying Agency – M/s Bruna Cayvallini, handling Ladies garments and accessories for the UK market 1990-1995: Senior Merchandiser with A.LE., Delhi, a reputed Buying House dealing with USA, UK and Europe.

KEY EXECUTIVES

Name :	Mr. Vinod
Designation :	Chartered Accountant

BUSINESS DETAILS

Line of Business :	Manufacturing of Ladies Accessories include all kinds of Bags, Coin Purses, Belts, Scarves, Stoles, Hats, Bag Charms and Hair Accessories.
Exports :
Products :	Hand Bags and Scarves
Countries :	UK
Imports :
Products :	Raw Materials
Countries :	Hong Kong
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Customers :	Wholesalers · Fat Face Limited · Intermalla, S. L. · Saddler Scandinavia · White Stuff
Suppliers :	· AES World Wide Courier · Anand Packaging · A. P. Express (HK) Limited · Ashianna Leather Garments · Balram Company · Brijbasi Traders · Capricorn Logistics Private Limited · Competent Auto Industries · Dinesh Kumar Jain and Company · DPD Continental Private Limited · Goel Timber and Plywood · Goyal Textile · Haryana Leather Store · Karan Enterprises · K R F Limited · K S Polymers · Lucky Leather Goods · Mahadev Chemicals · M K Enterprises · Morya Calico Printers · MRB Pure Aqua (Private) Limited · Nidhi Lable · N. K. Builders · Print Fab · Puneet Stationary and Packers · Rajasthan Dyeing Centre · Roshini Enterprises · SGS India Private Limited · Sahara Air Courier · Shree Computers · S. N. Creation · S. V. Communications · TNT India Private Limited · Umar Zari Art · Varun Shipping and Logistics · Veda Packaging Koncepts (Private) Limited · V. S. Traders · Y 2 K Logistics
No. of Employees :	50 (Approximately)
Bankers :	· Dena Bank Branch Mayur Vyas, New Delhi, India · State Bank of Bikaner and Jaipur Branch Saket, New Delhi, India

Banking Relations :	--
Auditors :
Name :	Manish P C Sharma and Associates Chartered Accountant
Address :	New Delhi, India

CAPITAL STRUCTURE

CAPITAL ACCOUNT MRS. NAMITA CHOPRA

PARTICULARS	31.01.2011 (PROVISIONAL)
Opening Balance	5.325
Add: Profit During year	2.961
	8.286
Less: Drawings During year	1.824
TOTAL	6.462

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FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.01.2011 (Provisional)	31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		6.462	5.650	5.161	4.455
2] Share Application Money		0.000	0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000	0.000
NETWORTH		6.462	5.650	5.161	4.455
LOAN FUNDS
1] Secured Loans		0.000	0.626	0.000	0.000
2] Unsecured Loans		0.300	0.300	0.000	0.776
TOTAL BORROWING		0.300	0.926	0.000	0.776
DEFERRED TAX LIABILITIES		0.000	0.000	0.000	0.000
TOTAL		6.762	6.576	5.161	5.231
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.324	2.735	2.820	3.293
Capital work-in-progress		0.000	0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.325	3.066	0.999	0.854
	Sundry Debtors	4.024	2.973	4.364	3.400
	Cash & Bank Balances	1.523	0.317	0.605	0.331
	Other Current Assets	1.976	2.522	0.575	0.665
	Loans & Advances	0.200	0.205	0.000	0.000
Total Current Assets		10.048	9.083	6.543	5.250
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	5.438	4.279	3.862	3.088
	Other Current Liabilities	0.172	0.963	0.340	0.224
	Provisions	0.000	0.000	0.000	0.000
Total Current Liabilities		5.610	5.242	4.202	3.312
Net Current Assets		4.438	3.841	2.341	1.938
MISCELLANEOUS EXPENSES		0.000	0.000	0.000	0.000
TOTAL		6.762	6.576	5.161	5.231

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.01.2011 (Provisional)	31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	41.120	34.210	22.606	18.862
		Other Income	2.259	2.856	1.616	1.273
		TOTAL (A)	43.379	37.066	24.222	20.135
Less	EXPENSES
		Cost of Good Sold	23.969	21.234	12.035	9.652
		Consumable Store	0.267	0.307	0.000	0.000
		Dyeing and Printing Charges	2.785	1.653	0.480	0.844
		Job Works	4.475	4.734	3.757	2.263
		Electricity Charges	0.191	0.265	0.240	0.155
		Freight and Cartage Inward	0.285	0.312	0.131	0.142
		Freight and Cartage Outward	0.371	0.152	0.529	0.519
		Wages and Salary	1.969	1.887	1.777	1.034
		Business Promotion	0.218	0.139	0.257	0.078
		General Expenses	0.225	0.134	0.128	0.080
		Rent Account	1.264	0.414	0.380	0.318
		Telephone Expenses	0.103	0.114	0.173	0.186
		Water Expenses	0.048	0.050	0.048	0.031
		Other Expenses	3.734	3.515	19.935	3.248
		TOTAL (B)	39.904	34.910	22.807	18.550
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3.475	2.156	1.415	1.585
Less	FINANCIAL EXPENSES (D)		0.103	0.455	0.128	0.037
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.372	1.701	1.287	1.548
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.411	0.495	0.539	0.669
	NET PROFIT (E-F) (G)		2.961	1.206	0.748	0.879

KEY RATIOS

PARTICULARS		31.01.2011 (Provisional)	31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	6.83	3.25	3.09	4.37
Net Profit Margin (PBT/Sales)	(%)	7.20	3.53	3.31	4.66
Return on Total Assets (PBT/Total Assets}	(%)	23.93	10.20	8.76	9.39
Return on Investment (ROI) (PBT/Networth)		0.46	0.21	0.14	0.20
Debt Equity Ratio (Total Liability/Networth)		0.91	1.09	0.81	0.92
Current Ratio (Current Asset/Current Liability)		1.79	1.73	1.56	1.59

LOCAL AGENCY FURTHER INFORMATION

OPERATING STATEMENT

(RS. IN MILLIONS)

Particulars	31.03.2011	31.03.2012	31.03.2013
	Estimated	Projected
Gross Sales
Domestic	0.000	0.000	0.000
Export	50.000	60.100	66.200
Add: Other Revenue Income	4.250	5.109	5.627
Sub Total	54.250	65.209	71.827
Less : Excise Duty	--	--	--
Net Sales	54.250	65.209	71.827
% rise [+] or fall [-] in net sales as compared to previous year	46.39%	20.20%	10.15%
Cost of Sales
Raw Materials Consumed
- Imported	0.000	0.000	0.000
- Indigenous	31.750	38.164	42.037
Others Stores and Spares
- Imported	0.000	0.000	0.000
- Indigenous	0.476	0.572	0.631
Power and Fuel	0.397	0.477	0.525
Direct Wages (Factory Wages and Salaries)	7.938	9.541	10.509
Repairs and Maintenance	0.000	0.000	0.000
Other Direct Expenses	0.000	0.000	0.000
Other Manufacturing Expenses	2.699	3.244	3.573
Depreciation	0.470	0.447	0.424
Sub Total	43.730	52.445	57.700
Add: Opening Stock-In-Process	0.000	0.000	0.000
Deduct: Closing Stock-In-Process	0.000	0.000	0.000
Cost of Production	43.730	52.445	57.700
Add: Opening Stock of Finished Goods	0.000	0.000	0.000
Deduct: Closing Stock of Finished Goods	0.000	0.000	0.000
SUB TOTAL (Total cost of sales)	43.730	52.445	57.700
Selling, General and Administrative Expenses	8.140	9.284	10.277
Sub Total	51.869	61.728	67.977
Operating Profit before interests	2.381	3.480	3.850
Interests on Term Loan	0.000	0.000	0.000
Interests on WC Limit and Bank Charges	0.050	0.600	0.600
Operating profit after Interests	2.331	2.880	3.250
Non Operating Income	0.015	0.018	0.020
Non Operating Expenses	0.000	0.000	0.000
Net of Non-operating Income and Expenses	0.015	0.018	0.020
Profit before Tax/ Loss [PBT]	2.346	2.898	3.270
Provision for taxes	0.586	0.725	0.818
Deferred Tax assets	0.000	0.000	0.000
Net Profit / Loss [PAT]	1.759	2.174	2.453
Dividend	0.000	0.000	0.000
Retained Profit	1.759	2.174	2.453
Retained profit/ Net Profit % age	100%	100%	100%
			05.75

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BALANCE SHEET

(RS. IN MILLIONS)

Particulars	31.03.2011	31.03.2012	31.03.2013
	Estimated	Projected
CURRENT LIABILITIES
Short Term Borrowing from Bank
i. From Application Bank	5.000	5.000	5.000
ii. From Other Banks	0.000	0.000	0.000
SUB TOTAL (A)	5.000	5.000	5.000
Short Term Borrowings From Others	0.000	0.000	0.000
Sundry Creditors (Trader)	3.979	4.182	4.607
Advances Payment from customers	0.000	0.000	0.000
Provision For Taxes	0.000	0.000	0.000
Creditor for Expenses	0.000	0.000	0.000
Dividend Payable	0.000	0.000	0.000
Other Statutory Liabilities (due within one years)	0.000	0.000	0.000
Installments of term loans and Deferred Payment Credits	0.000	0.000	0.000
Other current Liabilities and Provisions (due within one years)	0.281	0.309	0.339
SUB TOTAL (B)	4.260	4.491	4.946
TOTAL CURRENT LIABILITIES	9.260	9.491	9.946
TERM LIABILITIES
Debentures	0.000	0.000	0.000
Redeemable Preference Shares	0.000	0.000	0.000
Term Loans	0.000	0.000	0.000
Deferred Payment Credits	0.000	0.000	0.000
Unsecured Loans	0.300	0.300	0.300
Term Deposit	0.000	0.000	0.000
Other Term Liabilities	0.000	0.000	0.000
TOTAL TERM LIABILITIES	0.300	0.300	0.300
TOTAL OF OUTSIDE LIABILITIES	9.560	9.791	10.246
NET WORTH
Shares Capital	6.709	8.183	9.935
Application Money	0.000	0.000	0.000
Partner’s Current A/c	0.000	0.000	0.000
General Reserve	0.000	0.000	0.000
Revolution Reserve	0.000	0.000	0.000
Reserves and Surplus	0.000	0.000	0.000
Unsecured Loans	0.000	0.000	0.000
Share Premium Account	0.000	0.000	0.000
Surplus (+) or deficit (-) in Profit and Loss Account	0.000	0.000	0.000
TOTAL NET WORTH	6.709	8.183	9.935
TOTAL LIABILITIES	16.269	17.974	20.181
ASSETS
CURRENT ASSETS
Cash and Bank Balance	0.093	0.063	0.093
Investments [Other than long term investments]	0.000	0.000	0.000
Receivables other than deferred and exports	5.940	7.042	8.458
Export receivables	0.000	0.000	0.000
Government and other Trustee securities	0.000	0.000	0.000
Fixed deposit with bank	0.000	0.000	0.000
Domestic receivable Including BP/ BD	0.000	0.000	0.000
INVENTORY
Raw Materials
- Imported	0.000	0.000	0.000
- Indigenous	5.219	6.273	6.910
Stock in Process	0.000	0.000	0.000
Finished Goods	0.000	0.000	0.000
Other Consumable Spares	0.000	0.000	0.000
Advances to suppliers	0.000	0.000	0.000
Advance Payment of Taxes	0.000	0.000	0.000
Other Current Assets	2.475	2.499	2.749
TOTAL CURRENT ASSETS	13.726	15.878	18.210a
FIXED ASSETS
Gross Block (Land and Building Machinery)	5.037	5.037	5.337
Depreciation to date	2.772	3.219	3.643
NET BLOCK	2.265	1.818	1.694
OTHER NON CURRENT ASSETS
Investments in sub Cos./ Affiliates	0.000	0.000	0.000
Advances to suppliers of Capital goods and contractors	0.000	0.000	0.000
Investment in Others	0.000	0.000	0.000
Other Non-Current Investment	0.278	0.278	0.278
TOTAL OTHER NON CURRENT ASSETS	0.278	0.278	0.278
Intangible Assets	0.000	0.000	0.000
TOTAL ASSETS	16.269	17.974	20.181
Tangible Net Worth (TNW)	6.709	8.183	9.935
Net Working Capital (NWC)	4.466	6.387	8.264
Current Ratio	--	--	--
TOL/ TNW	1.48	1.67	1.83
TTL/ TNW	1.42	1.20	1.03

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COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

(RS IN MILLIONS)

Particulars	31.03.2011	31.03.2012	31.03.2013
	Estimated	Projected
Raw Materials
[a] Imported	0.000	0.000	0.000
Months Consumption	0.000	0.000	0.000
[b] Indigenous	5.219	6.273	6.910
Months Consumption	1.97	1.97	1.97
Other consumable spares (Excluding those included 1 above)
[a] Imported	0.000	0.000	0.000
Months Consumption	0.000	0.000	0.000
[b] Indigenous	0.000	0.000	0.000
Months Consumption	0.000	0.000	0.000
Stock in process	0.000	0.000	0.000
Months cost of production	0.000	0.000	0.000
Finished goods	0.000	0.000	0.000
Months cost of sales	0.000	0.000	0.000
Receivable other than export and deferred receivables [including bills purchased and discounted by bankers]	5.940	7.042	8.458
Months domestic sales	0.000	0.000	0.000
Export receivables [including bills purchased and discounted by bankers]	0.000	0.000	0.000
Months export sales	0.000	0.000	0.000
Advances to suppliers of raw materials and stores/ spares consumable	0.000	0.000	0.000
Other current Assets including cash and bank balances and deferred receivable due within one year	2.567	2.563	2.842
TOTAL CURRENT ASSETS	13.726	15.878	18.210
B CURRENT LIABILITIES
[Other than bank borrowing for working capital]
Creditors for purchases of raw materials and stores and consumable spares	3.979	4.182	4.607
Months Purchases	1.50	1.32	1.32
Advances from customers	0.000	0.000	0.000
Statutory Liabilities	0.000	0.000	0.000
Other current liability including short term borrowing dividend payable, installment of DPG public deposit, debentures etc	0.281	0.309	0.339
TOTAL	9.260	9.491	9.946

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COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

Particulars	31.03.2011	31.03.2012	31.03.2013
	Estimated	Projected
Total Current Assets	13.726	15.878	18.210
Other current Liabilities (Other than Bank borrowings)	4.260	4.491	4.946
Working Capital Gap	9.466	11.387	13.264
Min. Stipulated net working capital (25% of WCG)	2.367	2.847	3.316
Net Working capital	4.466	6.387	8.264
Item 3 minus item 4	7.100	8.540	9.948
Item 3 minus item 5	5.00	5.000	5.000
Maximum permissible bank finance	5.000	5.000	5.000
Excess borrowing representing Shortfall in NWC	0.000	0.000	0.000

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FINANCIAL INDICATORS

Particulars	31.03.2011	31.03.2012	31.03.2013
	Estimated	Projected
PROFITABILITY RATIO
Gross Profit Ratio (Gross profit/ Gross sales)	20.26%	20.26%	20.26%
Net Profit ratio (Net Profit/ Net Sales)	3.24%	3.33%	3.41%
Operating Profit (Operating Profit/ New Sales)	4.30%	4.42%	4.52%
Return on Investment (EBIT)/ Net Operating Assets	105%	191%	227.33%
OTHER RATIOS
Paid up Capital	67.09	81.83	99.35
TNW	67.09	81.83	99.35
Total Outside Liabilities/ TNW	1.42	1.20	1.03
Net Sales/ Total Tangibles Assets	3.33	3.63	3.56
PBT/ Total Tangible Assets	14.42%	16.12%	16.20%
POA (PBT/ TTA) (Net Sales) %	78.22	105.14	116.38
Operating Cost/ Net Sales%	95.70%	95.58%	95.48%
Assessed Bank Finance	50.00	50.00	50.00
Inventory + Receivable / Net Sales (In Days)	75.08	74.53	78.09
Inventory + Receivables	111.59	113.15	153.68
PBDIT	28.51	39.27	42.75
PBDIT / Intt. (Times)	57.02	6.54	7.12
ROCE (%) PBDIT/ Total Assets	17.52%	21.85%	21.18%
Total current Assets	137.26	158.78	182.10
Other Current Liabilities	42.60	44.91	49.46
Working Capital Gap	94.66	113.87	132.64
NWC	44.66	63.87	82.64
Bank Finance/ Current Assets %	36.43%	31.49%	27.46%
NWC/ Total Current Assets %	32.54%	40.22%	45.38%
Sundry Creditors to Total current Assets %	28.99%	26.34%	25.30%
Other current Liabilities/ Total Current Assets %	2.04%	1.94%	1.86%
Chargeable Assets (Inclusive Debtors)	136.34	158.14	181.17
Less: Sundry Creditors	39.79	41.82	46.07
Net Chargeable Current assets	96.54	116.32	135.10
Loan Installment Repaid/ Repayable	0.00	0.00	0.00
Interests Paid/ Payable	0.50	6.00	6.00
Total Purchases	317.50	381.64	420.37

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COMPUTATION OF TOTAL INCOME

(RS. IN MILLIONS)

Particulars	2010-2011
Income from Business or Profession		1.206
Income from Other Sources		0.000
GROSS TOTAL INCOME		1.206
Less: Deduction under Chapter VI A		0.100
Total Income		1.106
Rounding Off U/s 288 A		1.106
TAX CALCULATION
Tax at Normal rates	0.236
Total Tax		0.236
Add: Education Cess		0.005
Total		0.241
Add: Secondary and Higher Education Cess		0.002
Total		0.243
Less: Advance Tax		0.205
Add: Interests		0.006
U/s 234 B	0.003
U/s 234 C	0.003
Less: Tax Deposited U/s 140 A		0.044
Amount Payable		0.000
Tax Rounded off u/s		--
Income from Business and Profession Details		1.206
M/s Juno Impex
Net profit as per P and L A/c	1.206
Add: Items Inadmissible/ For Separate Consideration	0.173
- Depreciation Separately Considered - 0.173
Sub Total	1.379
Less: Item Admissible/ For Separate considered	0.173
- Depreciation Allowed as per IT ACT - 0.173
Total of Business and Profession		1.206
Income from other sources
Total of other sources		0.000

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TO WHOMSOEVER IT MAY CONCERN

(RS. IN MILLIONS)

On the basis of examination of relevant records and as per the information provided to them, they here by certify the net worth of Mrs. Namita Chopra D/o. Mr. Bharat Bhushan residing at S-100, Panchsheel Park, Delhi - 110017 as on 31 December 2010 is as under:

Sr. No.	Particulars	Approx. Market Value
	ASSETS
	Residential House at Lotus Espacia, Noida Expressway	8.400
	Advance for Residential House at Hamilton Heights, Sector — 37, Faridabad.	0.500
	Capital in M/s. Juno Impex as on 31/03/2010.	5.650
	LIC, P.F. and Other Investments	0.875
	Innova Car	0.450
	Jewellery	1.000
	Cash and Bank Balances	0.025
	TOTAL ASSETS (A)	16.900
	LIABILITIES
	ICICI Housing Loan	6.300
	TOTAL LIABILITIES (B)	6.300
	NET WORTH (A – B)	10.600

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PRE-INSPECTION VISIT REPORT

Name of the Borrower	M/s. Juno Impex Propx. Mrs. Namita Chopra
Line of activity:	Manufacturing of hand bags & Scarves and other related
Mrs. Namita Chopra, commenced business from the year 2002 in the name of M/s. Juno Impex as a partnership concern and took over the entire enterprise in the year 2006 as a proprietor and have been handling the affairs of the business by herself of course with the back of strong team. Before starting her own business she has worked in various export oriented organisation in Mumbai and in Delhi too handling various activities including the purchase and co-ordination with the customers in European Nation. After completion of the college she did her diploma in NIIT and has been in the garment export division from the start of the career. With the amount of experience in the filed of export business the concern managed to increase the business year on year basis in spite of the fact of recession in the European countries in the period 2008 to 2010. The company achieved a turnover of Rs.34.210 Millions in the year 2010 and till January 2011 have already achieved a turnover of Rs.40.500 Millions and with orders in hand worth more than Rs.70.000 Millions to be shipped before June 2011 the estimated turnover of the company Rs.50.000 Millions seems realistic and achievable.
Address of the factory business location:	F- 69, Sector -11, Noida – 201301, Uttar Pradesh, India
Whether rented/owned:	Rented
Whether Leasehold / Freehold	Freehold
Accessibility to the factory / Office:	Main Road of Sector - 11
Accessibility to the godown	Main Road of Sector - 11
Condition and Cleanliness of the building:	Very well maintained business premises
Detail of Power Connection	Yes

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COMPANY PROFILE:

Subject is a well known organisation in the field of Ladies Accessories, founded in the year 2000, and situated in one of the largest Industrial areas in the National Capital Region.

In this duration, they have acquired reputed and discerning buyers and are now geared up to target far more extensive growth.

The factory covers 10000 square feet of space over three floors and follows currently required standards of compliance.

They provide in-house designing, sampling, cutting, finishing and packing and over 200 captive machines.

The line of Ladies accessories include all kinds of bags, coin purses, belts, scarves, stoles, hats, bag charms and hair accessories for ladies as well as girls.

They also manufacture fabric-covered embellished books, trinket-boxes, photo frames, albums and other gift articles for some of the buyers.

They are well accustomed to handling volumes as well as smaller quantities, and have adequate infrastructure for intensely embellished goods.

The buyer list is listed below:

· Fat Face -U.K.

· Jack Wills -U.K.

· Aubin and Wills -U.K.

· White Stuff -U.K.

· Kooples - France

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TRADE REFERENCE:

· Fat Face Limited

· Jack Wills Limited

· White Stuff Limited

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FIXED ASSETS

· Car

· Computer and Laptop

· EPBX A/c

· Furniture and Fixtures

· Generator

· Machinery

· Mobile Phone

· Office Equipment

· Electrical Fitting

· Fire Fxtiguting

· Printer and UPS

· Refrigerator

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 records 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] 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.44.04
UK Pound	1	Rs.72.20
Euro	1	Rs.63.40

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.