MIRA INFORM REPORT

Report Date :

01.11.2011

IDENTIFICATION DETAILS

Name :	CHEMI CLOTHING CULTURE PRIVATE LIMITED

Registered Office :	# 48/2/F, S.K.S. Compound, Hongasandra Village, Begur Hobli, Hosur Main Road, Kudlu Gate, Bangalore-560068, Karnataka

Country :	India

Financials (as on) :	31.03.2010

Date of Incorporation :	15.01.2009

Com. Reg. No.:	08-048863

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

CIN No.: [Company Identification No.]	U18101KA2009PTC048863

TAN No.: [Tax Deduction & Collection Account No.]	BLRC09104E

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of all type of Garments, Textiles Products and Other Allied Materials.

No. of Employees :	Information denied by the management.

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Company

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a new company and yet to establish itself gradually. Mr. Bakrudeen Abdul Azeez, Director denied to disclose any information about the subject company. However, business is active. Payments are unknown. The company can be considered for business dealings on a safe and secured trade terms and conditions. Profit and loss of the company is not available.

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, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

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

INFORMATION DECLINED BY

Name :	Mr. Barudeen
Designation :	Director
Contact No.:	91-9739143963
Date :	31.10.2011

LOCATIONS

Registered Office / Factory:	# 48/2/F, S.K.S. Compound, Hongasandra Village, Begur Hobli, Hosur Main Road, Kudlu Gate, Bangalore-560068, Karnataka, India
Tel. No.:	Not Available
Mobile No.:	91-9739143963 [Mr. Bakrudeen Abdul Azeez]
Fax No.:	Not Available
E-Mail :	josiva_pr@yahoo.co.in

Brand Head Office :	Catherine Lokschin, 17 Chemin Des Semailles, 1212, Grand-Lancy, Geneve, Switzerland

Corporate Office :	P.B. No. 577, Sharjah, UAE
Tel. No.:	+971-65315577

DIRECTORS

As on 14.07.2010

Name :

Mr. Mohamed Gani Mohamed Ehiya

Designation :

Director

Address :

1/9, Shajahan, Nedukotai, Tanjore-613201, Tamilnadu, India

Date of Birth/Age :

31.01.1963

Date of Appointment :

15.01.2009

Din No.:

02286265

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U63040TN2006PTC059047	BLACK TULIP AIR TRAVELS PRIVATE LIMITED	Director	01-03-06	01-03-06	Active	YES
2	U18101KA2009PTC048863	CHEMI CLOTHING CULTURE PRIVATE LIMITED	Director	15-01-09	15-01-09	Active	NO
3	U70101TN2006PTC058604	SHERHOOD PROPERTIES PRIVATE LIMITED	Director	01-05-10	01-05-10	Active	NO

Name :

Mr. Packir Mohamed Abdul Rasheed

Designation :

Director

Address :

2/94, Shajahan, St. Kalyanapuram, Thanjavur-613218, Tamilnadu, India

Date of Birth/Age :

01.05.1969

Date of Appointment :

15.01.2009

Din No.:

02379200

Name :

Mr. Bakrudeen Abdul Azeez

Designation :

Director

Address :

85, South Street, Thiruvaiyaru PO, Thanjavur-613204, Tamilnadu, India

Date of Birth/Age :

06.01.1984

Date of Appointment :

15.01.2009

Din No.:

02379219

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 14.07.2010

Names of Shareholders		No. of Shares
Mohamed Gani Mohamed Ehiya		300
Packir Mohamed Abdul Rasheed		300
Bakrudeen Abdul Azeez		400

Total		1000

As on 14.07.2010

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of all type of Garments, Textiles Products and Other Allied Materials.

GENERAL INFORMATION

No. of Employees :

Information denied by the management.

Bankers :

· Indian Overseas Bank, Kalyanapuram Branch, Thanjavur-613001, Tamilnadu, India

· City Union Bank

Facilities :

Secured Loan	As on 31.03.2010 [Rs. in Millions]
City Union Bank OD A/C 116005	2.529
Indian Overseas Bank [Hypothecation of book debts, inventory and personal guarantee of directors]	1.137
Total	3.666


Banking Relations :	--

Auditors :
Name :	Samuel Kishore and Company Chartered Accountants
Address :	No. 69/5A, 2^nd Floor, Swamykrupa Building, Bommana Halli, Bangalore-560068, Karnataka, India
Tel. No.:	91-80-25735765
E-Mail :	gskishore@vsnl.net
Pan No.:	ADBPK9948B

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs.100/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		12.537
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.539)
NETWORTH		12.098
LOAN FUNDS
1] Secured Loans		3.666
2] Unsecured Loans		0.000
TOTAL BORROWING		3.666
DEFERRED TAX LIABILITIES		0.065

TOTAL		15.829

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		1.534
Capital work-in-progress		0.000

INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.138
	Sundry Debtors	15.787
	Cash & Bank Balances	0.033
	Other Current Assets	2.475
	Loans & Advances	0.000
Total Current Assets		30.433
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	18.064
	Other Current Liabilities	2.550
	Provisions	0.000
Total Current Liabilities		20.614
Net Current Assets		9.819

MISCELLANEOUS EXPENSES		4.476

TOTAL		15.829

KEY RATIOS

PARTICULARS				31.03.2010
Debt Equity Ratio (Total Liability/Networth)				2.00

Current Ratio (Current Asset/Current Liability)				1.47

LOCAL AGENCY FURTHER INFORMATION

Note: The registered office of the company has been shifted from 2202, Ground Floor, 15^th B Cross, 22^nd B Main, Sector-1, HSR Layout, Bangalore-560102 Karnataka India to the present address w.e.f. 10.12.2010.

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U18101KA2009PTC048863
Name of the company	CHEMI CLOTHING CULTURE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2202, Ground Floor, 15^th B Cross, 22^nd B Main, Sector-1, HSR Layout, Bangalore-560102 Karnataka India
Type of charge	Movable Property (not being pledge)
Particular of charge holder	Indian Overseas Bank, Kalyanapuram Branch, Thanjavur-613001, Tamilnadu, India
Email	roplan@tansco.iobnet.co.in
Nature of description of the instrument creating or modifying the charge	Credit sanction letter
Date of instrument Creating the charge	07.08.2010
Amount secured by the charge	Rs.10.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash credit - BPLR+4.00% p.a.(presently 12.25%) Non-fund limit: Letter of Credit -As per circulars in force. Terms of Repayment Cash Credit to be repaid on monthly basis Letter of credit on 180 days basis given. Margin 25% on stock (readymade garments) 10% margin Extent and Operation of the charge CC limit of 20 lacs secured by readymade garments kept at company's godown and various outlets. Letter of credit is secured by documents of title to goods belonging to Directors personal property and readymade garments.
Short particulars of the property charged	Readymade garments kept at its godown and company's outlets, at 2202, Ground Floor, 15^th B Cross, 22^nd B Main, Sector-1, HSR Layout, Bangalore-560102 Karnataka India

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.87
UK Pound	1	Rs.78.11
Euro	1	Rs.68.36

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	-

Maximum Credit Limit :

USD 48000

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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