MIRA INFORM REPORT

Report Date :

21.10.2011

IDENTIFICATION DETAILS

Name :	KHODIYAR CERAMICS (INDIA) PRIVATE LIMITED
Registered Office :	Plot No.829, Kerala Industrial Estate, G.I.D.C., Near Bavla, Ahmedabad – 382220, Gujarat
Country :	India
Date of Incorporation :	19.02.2011
Com. Reg. No.:	064116
Capital Investment / Paid-up Capital :	Rs.10.000 Millions
CIN No.: [Company Identification No.]	U26933GJ2011PTC064116
PAN No.: [Permanent Account No.]	AAESK2174K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Acid Resistance Tiles and Bricks.
No. of Employees :	65 (Approximately) (Office – 25 and Factory – 40)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a successor of Khodiyar Ceramics a partnership concern started in the year 1995. Trade relations are reported as fair. Business is active. Payments are unknown. The concern can be considered for business dealings with some cautions.

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. H. C. Patel
Designation :	Key Executive
Mobile No.:	91-9426301810
Date :	14.10.2011

LOCATIONS

Registered Office/ Factory :	Plot No.829, Kerala Industrial Estate, G.I.D.C., Near Bavla, Ahmedabad – 382220, Gujarat, India
Tel. No.:	91-2714-268568
Mobile No.:	91-9426301810 (Mr. H. C. Patel)
Fax No.:	91-2714-268336
E-Mail :	khodiyarceramics@yahoo.com khodiyarceramics@yahoo.co.in khodiyarceramics@gmail.com rajeshs61@tyahoo.co.in
Location :	Owned

DIRECTORS

Name :

Mr. Jayantilal Ranchhod Patel

Designation :

Director

Address :

A/504, Siddharaj Apartment, Opposite Sursagar Tower, Jodhpur Road, Satelite, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

20.09.1961

Qualification :

Engineers

DIN No.:

03355451

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	U26914GJ2011PTC063694	KHODIYAR WONDER BUILDING MATERIALS PRIVATE LIMITED	Director	17-01-11	17-01-11	Active	NO
2	U26933GJ2011PTC064116	KHODIYAR CERAMICS (INDIA) PRIVATE LIMITED	Director	19-02-11	19-02-11	Active	NO

Name :

Mrs. Bhavna Jayantilal Patel

Designation :

Director

Date of Birth/Age :

42 years

Qualification :

SSC

Name :

Mr. Vinod Panchabhai Kotadia

Designation :

Director

Address :

A-12, Shubh Labh Society, Ta-Bavla, District Ahmedabad – 382220, Gujarat, India

Date of Birth/Age :

01.12.1971

DIN No.:

03355471

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	U26914GJ2011PTC063694	KHODIYAR WONDER BUILDING MATERIALS PRIVATE LIMITED	Director	17-01-11	17-01-11	Active	NO
2	U26933GJ2011PTC064116	KHODIYAR CERAMICS (INDIA) PRIVATE LIMITED	Director	19-02-11	19-02-11	Active	NO

KEY EXECUTIVES

Name :	Mr. H. C. Patel
Designation :	Key Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Jayantilal Ranchhod Bhut	5000
Vinod Panchabhai Kotadia	5000
Total	10000

(AS ON 31.05.2011)

Names of Allotees	No. of Shares Allotted
Bhavnaben J. Bhut	50000
Girdhrbhai J. Baldha (HUF)	160000
Gvindbhai Vitthalbhai Baldha	15000
Hasmukhbhai C. Kamani	100000
Jayantibhai R. Bhut	95000
Nakul J. Bhut	150000
Naynaben H. Kamani	50000
Nilesh D. Baldha	25000
Satish R. Baldha	15000
Siddharth G. Baldha	160000
Samjuben G. Baldha	125000
Vinodbhai P. Kotadiadiya	45000
Total	990000

BUSINESS DETAILS

Line of Business :	Manufacturer of Acid Resistance Tiles and Bricks.
Products :	· Ceramic Acid and Chemical Resistant Tiles · Ceramic Acid and Chemical Proof Bricks · Acid Proof Bricks · Acid Proof Tiles · Acid Resistant Bricks · Acid Resistant Tiles · Corrosion Resistant Bricks · Corrosion Resistant Tiles · Acid and Alkalies Resistant Bricks · Acid and Alkalies Resistant Tiles · Acid Proof Clay Bricks · Acid Resistant Clay Tiles · Acid and Alkalies Proof Bricks · Acid and Alkalies Proof Tiles
Exports :
Products :	Tiles and Bricks
Countries :	Africa
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :	· Bhavani Minerals
Customers :	Wholesalers, Retailers and OEM’s
No. of Employees :	65 (Approximately) (Office – 25 and Factory – 40)
Bankers :	· ICICI Bank Jodhpur Branch, Ahmedabad, Gujarat, India · State Bank of India Bavla, Ahmedabad, Gujarat, India

Banking Relations :	--
Auditors :
Name :	Rajesh Shah and Associates Chartered Accountant
Associates/Subsidiaries :	· Khodiyar Clay Products Address: Plot No. 814, Ahmedabad, Gujarat, India · Khodiyar Clay Arts Address: Plot No. 813, Ahmedabad, Gujarat, India

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Share	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Share	Rs.10/- each	Rs.10.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

KHODIYAR CERAMICS - PARTNERSHIP CONCERN

Particulars	31.03.2010
Sales Turnover (Approximately)	16.000

The above information has been parted by Mr. H. C. Patel.

LOCAL AGENCY FURTHER INFORMATION

NOTE:

Khodiyar Ceramics was partnership concern in 1995 and this was converted into Khodiyar Ceramics India Private Limited in the year 19.02.2011.

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution 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 three years	Yes
Profitability for last three years	-------
Reasons for variation <> 20%	-------
Estimation for coming financial year	-------
Capital in the business	Yes
Details of sister concerns	Yes
Major Suppliers	Yes
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
Market Information	-------
Litigations that the firm/ Promoters Involved in	-------
Banking details	Yes
Banking Facility Details	No
Conduct of the Banking Account	-------
Buyer visit details	-------
Financials, if provided	No
Incorporation details is applicable	-------
Last Accounts filed at ROC	-------
Major Shareholders, if available	-------

TRADE REFERENCE:

· Bhavani Minerals

· Harbarandum Universal Limited, Chennai

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.49.71
UK Pound	1	Rs.78.09
Euro	1	Rs.68.05

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION		0
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		27

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.