MIRA INFORM REPORT

Report Date :

15.11.2011

IDENTIFICATION DETAILS

Name :	UTTAM FURNISHING FABRICS PRIVATE LIMITED
Registered Office :	50/10, Raj Colony, Panipat-132103, Haryana
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	13.05.2000
Com. Reg. No.:	05-034495
Capital Investment/ Paid-up Capital:	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U74999HR2000PTC034495
TAN No.: [Tax Deduction & Collection Account No.]	RTKU00289C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Textile Home Furnishing Products, Curtain, Sofa Cloth etc.
No. of Employees:	Approximately 65

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 1500
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

NOTES:

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

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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. Amarjeet
Designation :	Director
Contact No.:	91-8950333000
Date :	12.11.2011

LOCATIONS

Registered Office :	50/10, Raj Colony, Panipat-132103, Haryana, India
Mobile No.:	91-8950333000 (Mr. Amarjeet Singh)
E-Mail :	info@uttamfabrics.com rbajajcs@gmail.com mukesgarg|@gmail.com
Area :	Owned
Factory :	96, Dalbir Nagar, Kutani Road, Pehlwan Chowk, Panipat-132103, Haryana, India
Tel. No.:	91-180-3290909
Area :	Owned

DIRECTORS

Name :

Mr. Uttam Singh Makkar

Designation :

Director

Address :

50/10, Raj Colony, Panipat-132103, Haryana, India

Date of Appointment :

13.05.2000

DIN No.:

00418449

Name :

Mr. Amarjeet Singh Makkar

Designation :

Additional Director

Address :

50/10, Raj Colony, Panipat-132103, Haryana, India

Date of Appointment :

01.04.2008

DIN No.:

00417738

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL2005PTC142872	AJS Diamonds Private Limited	Director	23/11/2005	23/11/2005	10/01/2008	Active	NO
2	U74999HR2000PTC034495	Uttam Furnishing Fabrics Private Limited	Additional director	01/04/2008	01/04/2008	-	Active	NO

Name :

Raman Deep Kaur

Designation :

Director

Address :

50/10, Raj Colony, Panipat-132103, Haryana, India

Date of Appointment :

24.06.2006

DIN No.:

00418411

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
Uttam Singh Makkar	3900
Amarjeet Singh Makkar	6100
Total	10000

Equity Share Breakup (Percentage of Total Equity)

(AS ON 30.09.2010 )

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Textile Home Furnishing Products, Curtain, Sofa Cloth etc.
Exports :
Products :	Textile Home Furnishing Products
Countries :	Canada and Bangladesh
Terms :
Selling :	L/C and Cash
Purchasing :	L/C and Cash

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

Approximately 65

Bankers :

Punjab Sind Bank, Main Branch, G.T. Road, Panipat-132103, Haryana, India

Facilities :

Secured Loans	31.03.2010 Rs.in Millions	31.03.2009 Rs. In Millions
From Banks
Punjab and Sind Bank C/C 458	0.957	0.997
Punjab and Sind MTL-31-319 Against Machinery	0.529	0.933
Punjab and Sind MTL-31-258 Against Machinery	0.950	0.629
Total	2.436	2.559
Unsecured Loans	31.03.2010 Rs.in Millions	31.03.2009 Rs. In Millions
From Directors, Shareholders and Their relatives	3.455	2.774
Total	3.455	2.774

Banking Relations :	--
Auditors :
Name :	Suresh Nandwani and Company Chartered Accountant
Address :	House No. 284/10, Near New Sabji Mandi, Panipat-132103, Haryana, India
PAN No.:	AAOPN0535B

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Share	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Share	Rs.10/- each	\

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.283	0.221	0.185
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.383	0.321	0.285
LOAN FUNDS
1] Secured Loans		2.436	2.559	0.000
2] Unsecured Loans		3.455	2.774	2.914
TOTAL BORROWING		5.891	5.333	2.914
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		6.274	5.654	3.199
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.490	2.727	0.346
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.710	2.334	1.304
	Sundry Debtors	5.901	3.554	3.161
	Cash & Bank Balances	0.138	0.044	0.044
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.072	0.017	0.022
Total Current Assets		8.821	5.949	4.531
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	4.896	2.915	1.568
	Other Current Liabilities	0.050	0.050	0.050
	Provisions	0.091	0.057	0.060
Total Current Liabilities		5.037	3.022	1.678
Net Current Assets		3.784	2.927	2.853
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6.274	5.654	3.199

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	16.506	10.741	10.576
		Other Income
		TOTAL	16.506	10.741	10.576
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses	16.426	10.689	10.540
		Depreciation
		Financial Charges
		TOTAL	16.426	10.689	10.540
	PROFIT BEFORE TAX		0.080	0.052	0.036
Less	TAX		0.025	0.024	0.004
	PROFIT AFTER TAX		0.055	0.028	0.032
	Earnings Per Share (Rs.)		5.5	--	--

Particulars	31.03.2011
Sales Turnover (Approximately)	40.000

Expected Sales (2011-2012) : Rs. 45.000 Millions

The above information has been parted by Mr. Amarjeet (Director)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.33	0.26	0.30
Return on Total Assets (PBT/Total Assets}	(%)	0.71	0.60	0.74
Return on Investment (ROI) (PBT/Networth)		0.21	0.16	0.13
Debt Equity Ratio (Total Liability/Networth)		28.53	26.03	16.11
Current Ratio (Current Asset/Current Liability)		1.75	1.97	2.70

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the firm	Yes
Constitutions of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	--
No. of Employees	Yes
Name of person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last 3 years	Yes
Profitability for last three years	No
Reasons for Variation <> 20%`	--
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concern	--
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export/ Import Details (If applicable)	Yes
Market Information	--
Litigations that the firm/ Promoter involved in	--
Banking Details	Yes
Banking Facility details	--
Conduct of the banking account	--
Buyer visit details	--
Financials, fi provided	No
Incorporation details, if applicable	--
Last accounts filed at ROC	--
Major Shareholders , if available	--

Note:

The Registered office of the company has been shifted from H-4, Udyog Nagar, Peeragarhi, New Delhi-110087, India to present address.

Form 8

This form is for	Creation of charge
Corporate identity number of the company	U74999HR2000PTC034495
Name of the company	UTTAM FURNISHING FABRICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	50/10, Raj Colony, Panipat-132103, Haryana, India
Type of charge	Others (Machinery of the company)
Particular of charge holder	Punjab Sind Bank, Main Branch, G.T. Road, Panipat-132103, Haryana, India rbajajcs@gmail.com
Nature of description of the instrument creating or modifying the charge	Hypothecation of goods to secure a demand cash credit dated 27.11.2008
Date of instrument Creating the charge	27.11.2008
Amount secured by the charge	Rs. 0.935 Million
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 0.50% over the RBI rate with a minimum of 15.25% p.a. Terms of Repayment Repayable in equal installments of Rs. 0.019 Million p.m plus interest. Margin 25% Extent and Operation of the charge 100%
Short particulars of the property charged	Hypothecation of present and future machineries of the company

Fixed Assets:

· Machinery

· Motor Cycle

· Scooter

· Generator

· Car

· Cycle

· Furniture and Fixture

· Office Equipments

· Mobile Set

· Computer

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] 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.50.08
UK Pound	1	Rs.80.36
Euro	1	Rs.68.83

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.