MIRA INFORM REPORT

Report Date :

19.11.2011

IDENTIFICATION DETAILS

Name :	UGAM IMPEX LIMITED (w.e.f. 25^th January, 2010)
Formerly Known As :	UGAM IMPEX PRIVATE LIMITED
Registered Office :	7, Ruby Trade Centre, Building No. 7, Savani Char Rasta, Behind Gitanjali Cinema, Varachha Road, Surat – 395 006, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	07.10.1996
Com. Reg. No.:	04-030876
Capital Investment / Paid-up Capital :	Rs.33.718 Millions
CIN No.: [Company Identification No.]	U51100GJ1996PLC030876
TAN No.: [Tax Deduction & Collection Account No.]	SRTU00553A
PAN No.: [Permanent Account No.]	ACHPB9356P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the whole-sale trading of Yarn, Grey cloth and Diamonds. It has also been engaged in the business of power generation and sale of power by installing Wind Mill (Renewable Energy Sources).
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1646000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for 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.

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. Tushar Shah
Designation :	Director
Contact No.:	91-9987062628
Date :	16.11.2011

LOCATIONS

Registered Office :	7, Ruby Trade Centre, Building No. 7, Savani Char Rasta, Behind Gitanjali Cinema, Varachha Road, Surat – 395 006, Gujarat, India
Tel. No.:	91-261-4090120 / 118 / 4090100
Mobile No.:	91-9987062628 (Mr. Tushar Shah)
Fax No.:	91-261-4090108
E-Mail :	ugamimpexpvt.ltd@gmail.com alpesh@rajintl.co.in info@ugamimpex.com exports@ugamimpex.com sales@ugamimpex.com
Website :	http://ugamimpex.com
Area :	2500 sq. ft.
Location :	Owned
Head Office/ Factory :	3-B/3-C, 2^nd Floor, New Office Building, Above Tamilnad Bank, Bombay Market, Surat – 395 006, Gujarat, India
Tel. No.:	91-261-4090145

DIRECTORS

As on 30.09.2010

Name :

Mr. Rameshchandra Karmshibhai Bodara

Designation :

Director

Address :

37, Diamond Nagar, Opposite Mira Nagar, Varachha Road, Surat – 395 006, Gujarat, India

Date of Birth/Age :

04.01.1964

Date of Appointment :

07.10.1996

DIN No.:

01964630

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	U51100GJ1996PLC030876	Ugam Impex Limited	Director	07-10-96	07-10-96	Active	NO
2	U17120GJ2009PTC058173	Guru-G Tex Print Private Limited	Director	23-09-09	23-09-09	Active	NO
3	L65920MH1993PLC072083	Capman Financials Limited	Director	24-09-11	31-03-11	Active	NO

Name :

Mr. Nagjibhai Vashrambhai Dabhi

Designation :

Director

Address :

248, Sitaram Nagar II, Puna – Bombay Market Road, Surat – 395 010, Gujarat, India

Date of Birth/Age :

20.11.1964

Date of Appointment :

20.04.2003

DIN No.:

01220667

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	U51100GJ1996PLC030876	Ugam Impex Limited	Director	20-04-03	07-10-96	Active	NO

Name :

Mr. Alpesh Rameshbhai Bodra

Designation :

Director

Address :

37, Diamond Nagar, Opposite Mira Nagar, Varachha Road, Surat – 395 006, Gujarat, India

Date of Birth/Age :

20.09.1986

Date of Appointment :

20.02.2008

DIN No.:

01733322

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	U51100GJ1996PLC030876	Ugam Impex Limited	Director	20-02-08	20-02-08	Active	NO
2	U17120GJ2009PTC058173	Guru-G Tex Print Private Limited	Director	23-09-09	23-09-09	Active	NO
3	U51909GJ2001PTC039778	Deeprekha Impex Private Limited	Director	10-05-10	10-05-10	Active	NO
4	U17120GJ2010PTC060803	Karmeshwar Exim Private Limited	Director	19-05-10	19-05-10	Active	NO
5	U17120GJ2010PTC060804	Gauri International Private Limited	Director	19-05-10	19-05-10	Active	NO

Name :

Mr. Tushar Vinaychandra Shah

Designation :

Director

Address :

102, Snehal Adarsh Dugdhalay Lane, Marve Road, Malad (West), Mumbai – 400 064, Maharashtra, India

Date of Birth/Age :

12.05.1976

Date of Appointment :

20.02.2008

DIN No.:

02049526

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	U51100GJ1996PLC030876	Ugam Impex Limited	Director	20-02-08	20-02-08	Active	NO
2	U17110MH1996PLC096702	Raj International Limited	Director	14-09-10	01-03-08	Active	NO
3	U17120GJ2009PTC058173	Guru-G Tex Print Private Limited	Director	31-12-10	16-01-10	Active	NO
4	U24230GJ1999PTC036707	Sysmed Laboratories Private Limited	Whole-time director	01-06-10	01-06-10	Active	NO
5	U70101GJ2010PTC060993	Hsbi Infrastructure & Developers Private Limited	Director	05-06-10	05-06-10	Active	NO
6	U65910GJ1996PTC030958	Ugam Finvest (India)Private Limited	Director	05-02-11	05-02-11	Active	NO
7	U40107KA2010PTC055449	Swathi Sunsource Power Private Limited	Additional director	19-08-11	19-08-11	Active	NO

Name :

Mr. Jagdish Karamshibhai Bodra

Designation :

Director

Address :

37, Diamond Nagar, Opposite Mira Nagar, Varachha Road, Surat – 395 006, Gujarat, India

Date of Birth/Age :

23.03.1970

Date of Appointment :

25.09.2008

DIN No.:

00064752

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	U17119GJ1995PTC025042	Raj Synthetics Private Limited	Director	16-03-95	16-03-95	Active	NO
2	U17110MH1996PLC096702	Raj International Limited	Managing director	01-12-07	30-01-96	Active	NO
3	U65910GJ1996PTC030958	Ugam Finvest (India)Private Limited	Director	05-07-11	18-10-96	Active	NO
4	U32301GJ2000PTC037762	Modern Moviee Private Limited	Director	10-04-00	10-04-00	Active	NO
5	U51100GJ1996PLC030876	Ugam Impex Limited	Director	25-09-08	25-09-08	Active	NO
6	U17120GJ2009PTC057515	R J Square Link Private Limited	Director	13-07-09	13-07-09	Active	NO
7	U45201GJ2009PTC058174	Raj Infraspace Gujarat Private Limited	Director	23-09-09	23-09-09	Active	NO
8	U17120GJ2009PTC058208	Raj Fabtex Gujarat Private Limited	Director	29-09-09	29-09-09	Active	NO
9	U17120GJ2009PTC058209	Raj Gar-Fab Private Limited	Director	29-09-09	29-09-09	Active	NO
10	U55101GJ2009PTC058210	Raj Amusement Gujarat Private Limited	Director	29-09-09	29-09-09	Active	NO
11	U36910GJ2009PTC058212	Raj Dimjewel Ornaments Private Limited	Director	29-09-09	29-09-09	Active	NO
12	U17120GJ2009PTC058226	Raj Polyfilm Private Limited	Director	01-10-09	01-10-09	Active	NO
13	U24230GJ2009PTC058227	Raj Medicare Gujarat Private Limited	Director	01-10-09	01-10-09	Active	NO
14	U17120GJ2010PTC059458	SVS Tex O Fab Private Limited	Director	06-02-10	06-02-10	Active	NO
15	U24230GJ1999PTC036707	Sysmed Laboratories Private Limited	Managing director	01-06-10	01-06-10	Active	NO
16	U24100GJ2011PTC063792	Raj Dyechem Private Limited	Director	25-01-11	25-01-11	Active	NO
17	L65920MH1993PLC072083	Capman Financials Limited	Director	24-09-11	31-03-11	Active	NO
18	U40107KA2010PTC055449	Swathi Sunsource Power Private Limited	Additional director	19-08-11	19-08-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Rameshkumar K. Bodra	875906
Rekha R. Bodra	800
Laxman H. Balar	800
Nagjibhai V. Patel	800
Parshottam Dayalbhai Bodra HUF	800
Hasmukh Parshottambhai Bodra HUF	700
Kailash H. Bodra	290640
Parshottam Dayalbhai Bodra	61700
Samju Parshottambhai Bodra	700
Hasmukh Parshottambhai Bodra	133020
Sambhu Bodra	700
Girish Karamshibhai Bodra	496201
Sumit Rameshbhai Bodra	900
Alpesh R. Bodra	342467
Sunil Rameshbhai Bodra	630150
Kailash Girishbhai Bodra	278116
Goriben Karamshibhai Bodra	411066
Jagdish Karamshibhai Bodra	415000
Total	3940466

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	46.07
Directors or relatives of directors	53.93
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the whole-sale trading of Yarn, Grey cloth and Diamonds. It has also been engaged in the business of power generation and sale of power by installing Wind Mill (Renewable Energy Sources).

Products :

• Polyster Yarns
• Polyester Staple Fibre
• Pet Flakes
• Embroidered Fabrics
• Cotton Yarns
• Blended Yarns
• Carpet Yarns
• Viscose Yarns
• Acrylic Yarns
• Metallic Yarns
• T-Shirts

Product	ITC Code
Trading of Yarn and Grey Cloth	511
Trading of Diamonds and Laser Majoori	369
Power Generation Plant (Wind Mill)	--

Exports :

Products :

Textile Products

Countries :

v Australia

v USA

v UK

v Europe

Terms :

Selling :

Cash and Credit

Purchasing :

Cash, Credit, D/D and Cheque

GENERAL INFORMATION

Customers :

Wholesalers, Retailers, End Users and OEM’s

No. of Employees :

250 (Approximately)

Bankers :

• State Bank of India, 1^st Floor, Kiran Chambers, Ring Road, Surat, Gujarat, India
• Oriental Bank of Commerce, Jash Textile Market, Ring Road, Surat – 395 002, Gujarat, India
• ICICI Bank
• Axis Bank Limited
• Allahabad Bank
• HSBC Bank
• Punjab National Bank
• IndusInd Bank
• ING Vysya Bank

Facilities :

Secured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
Oriental Bank of Commerce Cash Credit Account against Debtors.	0.000	71.682
State Bank of India Cash Credit Account	149.397	0.000
State Bank of India Term Loan for Wind Mill.	57.203	0.000
OBC Bank Fabia Car Loan (Secured by vehicle acquired)	0.517	0.740
ICICI Bank Car Loan A/c. (Secured by vehicle acquired)	0.136	0.300
Total	207.253	72.722

NOTES :-

1. The company has taken cash Credit Facility of Rs.150.000 Millions from State Bank of India, Commercial Branch, Ring Road, Surat against hypothecation of all chargeable current assets of the company and additionally secured by way of second charge of Equitable Mortgage on Fixed Assets of the directors of the Company. The said facilities are further secured by personal guarantee of all the directors which is repayable on demand.
2. The company has also taken loan of Rs.57.000 Millions from State Bank of India for the purchase of Wind Mill against hypothecation of entire Plant and Machinery of the Wind Mill.
3. The company has also taken loan of Rs.0.740 Million from Oriental bank of Commerce for the purchase of Fabia Car against hypothecation of Fabia Car. Loan amount repayable within one year Rs.0.291 million including interest wherever separate amount of interest is not available.
4. The company has also taken Swift car loan of Rs.0.480 Million from ICICI Bank for the purchase of Maruti Swift against hypothecation of Swift car. Loan amount repayable within one year Rs.0.190 million including interest wherever separate amount of interest is not available.

Unsecured loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
From Directors	0.000	0.406
From Relatives or directors	4.213	96.779
From others	19.691	0.000
Total	23.904	97.185

Banking Relations :	--
Auditors :
Name :	Manoj Makhania and Company (Proprietor Mr. Manoj N. Makhania) Chartered Accountants
Address :	606, 6^th Floor, Centre Point, Near Kadiwala School, Ring Road, Surat – 395 002, Gujarat, India
Tel. No.:	91-261-2707271/ 2463746
Mobile No.:	91-9825133736/ 9428580665
E-Mail :	manojmakhani@yahoo.com makhaniamanoj@gmail.com
Income-tax PAN of auditor or auditor's firm :	ABLPM1853B

CAPITAL STRUCTURE

After 30.09.2010

Authorised Capital : Rs.50.000 millions

Issued, Subscribed & Paid-up Capital : Rs.47.537 millions

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
4500000	Equity Shares	Rs.10/- each	Rs.45.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3940466	Equity Shares	Rs.10/- each	Rs.39.404 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
4500000	Equity Shares	Rs.10/- each	Rs.45.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3371826	Equity Shares	Rs.10/- each	Rs.33.718 Millions

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		33.718	12.112	5.967
2] Share Application Money		0.001	0.000	3.085
3] Reserves & Surplus		377.978	65.634	8.440
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		411.697	77.746	17.492
LOAN FUNDS
1] Secured Loans		207.253	72.722	32.039
2] Unsecured Loans		23.904	97.185	12.511
TOTAL BORROWING		231.157	169.907	44.550
DEFERRED TAX LIABILITIES		7.181	0.284	0.003
TOTAL		650.035	247.937	62.045
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		106.537	3.473	1.661
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		15.088	0.000	2.500
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	22.742	0.000
	Sundry Debtors	1622.208	314.490	79.157
	Cash & Bank Balances	5.013	0.166	0.676
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	10.281	3.746	2.932
Total Current Assets		1637.502	341.144	82.765
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1105.928	95.026	24.875
	Other Current Liabilities	0.029	0.792	0.000
	Provisions	3.135	0.862	0.006
Total Current Liabilities		1109.092	96.680	24.881
Net Current Assets		528.410	244.464	57.884
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		650.035	247.937	62.045

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales	2898.547	1109.317	232.933
		Sales of Power	0.493	0.000	0.000
		Other Income	9.557	2.257	2.522
		TOTAL (A)	2908.597	1111.574	235.455
Less	EXPENSES
		Cost of Purchase	2872.940	1099.372	234.028
		Employees Remuneration & Welfare Expenses	0.987	0.516
		Administrative, Sales & Other Expenses	1.491	1.772
		TOTAL (B)	2875.418	1101.660	234.028 (Including Financial and Depreciation)
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		33.179	9.914
Less	FINANCIAL EXPENSES (D)		12.275	6.483
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		20.904	3.431
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.718	0.130
	PROFIT BEFORE TAX (E-F) (G)		20.186	3.301	1.427
Less	TAX (H)		10.335	1.412	0.000
	PROFIT AFTER TAX (G-H) (I)		9.851	1.889	1.427
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		3.596	1.707	0.280
	BALANCE CARRIED TO THE B/S		13.447	3.596	1.707
	Earnings Per Share (Rs.)		7.48	3.16	15.53

Particulars	31.03.2011
Sales Turnover (Approximately)	3090.000

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

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.34	0.17	0.61
Net Profit Margin (PBT/Sales)	(%)	0.70	0.30	0.61
Return on Total Assets (PBT/Total Assets}	(%)	1.16	0.96	1.69
Return on Investment (ROI) (PBT/Networth)		0.05	0.04	0.08
Debt Equity Ratio (Total Liability/Networth)		3.25	3.43	3.97
Current Ratio (Current Asset/Current Liability)		1.48	3.53	3.33

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	--
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

DIAMOND INDUSTRY – INDIA

From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

The diamond jewellery industry in India today may be more than Rs.60000.000 millions and is rated amongst the fastest growing in the world. India ranks third in the world in domestic diamond consumption.

Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

Excerpts from Times of India dated 30^th October 2010 is as under –

DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT

This could be the biggest credibility crisis the Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs.20000.000 millions lent to a dozen diamond firms in Surat. Until about two months ago, they had not repaid  these dues. Bankers believe many diamantaires borrowed money during the economic downturn two years ago and diverted funds to businesses like real estate and capital markets. Many of themselves made money from these businesses but their diamond companies have gone sick and declared insolvency.

Most of the money borrowed from the banks in the name of their diamond business has been diverted in real estate and the share market. The banks are not in a position to seize their properties because in many cases, these were purchased in the name of their relatives and friends.

BACKGROUND:

The company was incorporated as private limited company in 20^th September, 1996. The Company became limited company 25^th January, 2010. The company is principally engaged in the whole-sale trading of Yarn, Grey cloth and Diamonds. It has also been engaged in the business of power generation and sale of power by installing Wind Mill (Renewable Energy Sources).

FORM 8:

This form is for	Creation of charge
Corporate identity number of the company	U51100GJ1996PLC030876
Name of the company	UGAM IMPEX LIMITED
Address of the registered office or of the principal place of business in India of the company	7, Ruby Trade Centre, Building No. 7, Savani Char Rasta, Behind Gitanjali Cinema, Varachha Road, Surat – 395006, Gujarat, India
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	State Bank of India, 1^ST Floor, Kiran Chambers, Ring Road, Surat, Gujarat, India
Nature of description of the instrument creating or modifying the charge	1. Agreement of Loan for Overall Limit 2. Agreement of Hypothecation of Goods & Assets 3. Letter regarding grant of Individual Limits within the overall limit
Date of instrument Creating the charge	10.03.2010
Amount secured by the charge	Rs.211.100 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest : 1. Term Loan-1% above SBAR i.e.12.75% p.a. 2. FBWC- 0.75% above SBAR i.e. 12.50% p.a. Terms of Repayment : 1. Working Capital : Repayable on Demand 2. Term Loan: Repayable in 57 monthly installments of Rs. 1.000 Million each starting from July,2010 Margin : Finished Goods(stock)-25% Book Debts - 40% land & Build/Plant and machinery(Term Loan) - 34.55% Extent and Operation of the charge : Charge is for entire dues of the company until fully repaid together with the interest and cost.
Short particulars of the property charged	For Cash Credit and CEL : Hypothecation of all chargeable current assets of the company For Term Loan : Hypothecation over entire plant & machinery of the wind mill at Laxmivas, Taluka : Malia, Miyana

FIXED ASSETS:

• Plant and Machinery
• Laser Machine
• Mobile Phone
• Fabia Car
• Computer
• Furniture
• Air Conditioner
• Electric installation
• Swift car
• Tea Machine
• Shop at union point
• Wind Mill

WEBSITE DETAILS:

PROFILE:

Subject, is an inimitable name in the global, textiles as well as gems and jewelry sector. They are the renowned manufacturers-exporters of extensive range of embroidered fabrics as wells as quality yarns from Indian origin. Based in the heart of textiles and diamond hub of India, they are also involved in providing exclusive diamonds and various stone studded jewelries for their client's theme or concept-based collections. They, at Subject, strive to operate their businesses with prime focus on their client’s satisfaction by delivering high quality products and services in cost as well as time effective manner. Its the perfect venue to establish long-term relationships that will help the businesses grow.

Their Journey so far has been highly challenging, eventful and exciting as well. At the time of its inception in 1996, Subject began as a trading concern in the local diamond market with a primary focus of supplying cut and polished diamonds. Later, the company had set up a manufacturing unit for gold/silver/platinum jewelry studded with diamond and precious/semi-precious stones with an aim to provide exclusive range of such jewelry suited to overseas customers by regularly mapping customer needs.

Subject’s promoter’s technical and marketing expertise in textiles enabled the company to diversify in the textiles sector, only to receive a huge response from both local and foreign markets. They initiated as a trade house of wide range of yarns and fibers manufactured in India. The company, since then, has been associated with the world renowned names engaged in manufacturing of yarns. Thereafter, the well-versed promoters proceeded with setting up of a manufacturing facility equipped with the state of the art technology to produce fabrics which meet the international demands. The unit is equipped with the latest weaving machinery and high speed embroidery machine for value addition as per client’s demand. The company has managed to develop a strong bond of trust and reliability with its consumers, based on high quality, reasonable prices and a dedication to end-user satisfaction. As a result the company has grown manifolds in the past one decade.

MANAGEMENT TEAM

Ramesh Bodra

One of the Directors of Subject, a promoter, is associated with diamond industry since 27 years and has over 15 years' experience in the global market. He started his career in 1988 and handles Financial and Banking decisions and has sound knowledge of administrative and accounting principles. He also has a thorough knowledge of Diamond production, valuation and marketing. He has proven his ability by steady growth of Subject since its foundation.

Jagdish Bodra

Mr. Jagdish Bodra, their chairman , is a B.SC (Chemistry) and comes with an overall experience of 16 years in the textile industry. He has significantly contributed to the consistent growth of the company in both the domestic as well as international markets . With his active involvement in companies day to day activities in terms of Business development, Sales, Finances and many other, he has taken the company to new levels of success. With a passion of creating more value to customers and leading the Yarn Industry and his knowledge about the industry from the root levels has always allowed him to take company to the heights.

Tushar Shah

Mr. Tushar Shah, has done DMTC (Textiles) and DBM and joined the company in the year 1995. Since then, he has been meeting the business challenges successfully and delivering unending success to company on every front . He has helped the company in obtaining various certifications by meeting the world class industry standards. He's also been actively involved in strategic planning function of the company. A soft spoken and driven by values and a eminent personality who believes in overall success of the company and his approach to business has been cherished by not only the board members but also the local business associates.

Alpesh Bodra

He is one of the directors of the company and has entered since 4 years in the trading business. He is a young and dynamic personality having a sound knowledge in various business and marketing principles. He has a high sense of responsibility, entrepreneurial thinking, ability to set objectives and to achieve them. He possesses uncanny ability of identifying the opportunities.

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.51.35
UK Pound	1	Rs.80.97
Euro	1	Rs.69.25

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		46

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.