MIRA INFORM REPORT

Report Date :

26.07.2012

IDENTIFICATION DETAILS

Name :	COLORS SULZER PRIVATE LIMITED
Registered Office :	E-4, Ground Floor, E-Block, Bhilwara Textile Market, Pur Road, Bhilwara – 311001, Rajasthan
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.11.2010
Com. Reg. No.:	17-033287
Capital Investment / Paid-up Capital :	Rs.2.512 Millions
CIN No.: [Company Identification No.]	U17119RJ2010PTC033287
TAN No.: [Tax Deduction & Collection Account No.]	JDHC03160D
PAN No.: [Permanent Account No.]	AAECC2838B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Synthetic Fabric.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Yet to commence business activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a relatively new established company and yet to commence it business activity. Business is active. Payment terms are unknown. Initially the company can be considered for business dealings on a secured 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DECLINED BY

Name :	Mr. Ankit Sharma
Designation :	Chartered Accountant
Contact No.:	91-9829178455
Date :	25.07.2012

LOCATIONS

Registered Office :	E-4, Ground Floor, E-Block, Bhilwara Textile Market, Pur Road, Bhilwara – 311001, Rajasthan, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	sktoshniwal@gmail.com
Factory :	F-481 and F-482, RIICO Growth Center, Hamirgarh, Bhilwara, Rajasthan, India

DIRECTORS

As on: 30.09.2011

Name :

Mrs. Meenakshi Jain

Designation :

Director

Address :

Ganpati Apartment, Flat Al, 6 Alipur Road, Civll Lines, Delhi – 110054, India

Date of Birth/Age :

22.07.1975

Date of Appointment :

09.11.2010

DIN No.:

03281258

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U17119RJ2010PTC033287	COLORS SULZER PRIVATE LIMITED	Director	09/11/2010	09/11/2010	-	Active	NO
2	U65990WB2009PTC132796	DRISTI FINANCIAL CONSULTANCY SERVICES PRIVATE LIMITED	Director	08/05/2012	08/05/2012	-	Active	NO

Name :

Mr. Atul Sharma

Designation :

Director

Address :

A 195, Shastri Nagar, Bhilwara – 311001, Rajasthan, India

Date of Birth/Age :

23.07.1955

Date of Appointment :

09.11.2010

DIN No.:

02739569

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U52190WB2009PTC139179	VIMAL BARTER PRIVATE LIMITED	Director	07/11/2009	07/11/2009	-	Active	NO
2	U17119RJ2010PTC033287	COLORS SULZER PRIVATE LIMITED	Director	09/11/2010	09/11/2010	-	Active	NO
3	U65990WB2009PTC132796	DRISTI FINANCIAL CONSULTANCY SERVICES PRIVATE LIMITED	Director	08/05/2012	08/05/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ankit Sharma
Designation :	Chartered Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Meenakshi Jain	5000
Atul Sharma	5000
Ankit Sharma	35700
Atul Sharma	70500
Mamta Sharma	70000
Kanchan Suitings	65000
Total	251200

As on: 20.03.2012

Names of Allottee	No. of Shares
Jagetia Marbel Private Limited, India	8500
Dhoot Borewell Private Limited, India	5500
Gyatri Pareek Prop. M/S Caliber Textile, India	5000
Kailash Chnadra Sen Prop. M/S Shivangi Trading Company, India	7500
Kuldeep Sen Prop. M/S Yakshni Textile, India	5000
Swagat Fabrics Private Limited, India	5000
S. Atyanarayan V Mshnav Prop. M/S Sharda Fabrics, India	5000
Krishna Suiting Private Limited, India	10000
Atul Sharma Prop. M/S Excellent Synthetics, India	4000
Satelite Infra Project Private Limited, India	10000
Haven Vincom Private Limited, India	10000
Prism Vintrade Private Limited, India	9000
Total	84500

As on: 28.06.2012

Names of Allottee	No. of Shares
Dmsti Financial Consultancy Services Private Limited, India	380000
Total	380000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2011

Category	Percentage
Bodies corporate	25.88
Directors or relatives of directors	74.12
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Synthetic Fabric.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Bank Of Baroda, SSI Bhilwara, Pur Road, Bhilwara - 311001, Rajasthan, India

Banking Relations :	--
Auditors :
Name :	S. K. Toshniwal and Company Chartered Accountants
Address :	G-5-6-7, Satyaman Shopping Mall, Indra Market, Bhilwara – 311001, Rajasthan, India
PAN No.:	ABHFS4656E

CAPITAL STRUCTURE

After: 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
715700	Equity Shares	Rs.10/- each	Rs.7.157 Millions

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
251200	Equity Shares	Rs.10/- each	Rs.2.512 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		2.512
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		2.512
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		2.512
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.789
	Other Current Assets	0.000
	Loans & Advances	1.703
Total Current Assets		2.492
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.000
	Provisions	0.005
Total Current Liabilities		0.005
Net Current Assets		2.487
MISCELLANEOUS EXPENSES		0.025
TOTAL		2.512

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	0.000
		Other Income	0.000
		TOTAL	0.000
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	0.000
	PROFIT BEFORE TAX		0.000
Less	TAX		0.000
	PROFIT AFTER TAX		0.000
	Earnings Per Share (Rs.)		0.000

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00
Return on Investment (ROI) (PBT/Networth)		0.00
Debt Equity Ratio (Total Liability/Networth)		0.00
Current Ratio (Current Asset/Current Liability)		489.40

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one year	Yes
12]	Profitability for last one year	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Passport No of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No

FINANCIAL RESULTS AND FUTURE PLANNING

This is the first year of company's incorporation and company has not started any trading and manufacturing activities during the financial year ended as on 31st March, 2011. The company has planned to establish Air Jet looms weaving plan at RIICO Growth center, Hamirgarh, Bhilwara.

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U17119RJ2010PTC033287
Name of the company	COLORS SULZER PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	E-4, Ground Floor, E-Block, Bhilwara Textile Market, Pur Road, Bhilwara – 311001, Rajasthan, India E-mail: sktoshniwal@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10296438
Type of charge	Immovable property
Particular of charge holder	Bank of Baroda, SSI Bhilwara, Pur Road, Bhilwara - 311001, Rajasthan, India E-mail: ssibhi@bankofbaroda.com
Nature of instrument creating charge	Memorandum of Entry dated 08/11/2011 creating E.M. of land and building situated at F-481 and F-482 , RIICO Growth Center, Hamirgarh, Bhilwa
Date of instrument Creating the charge	08.11.2011
Amount secured by the charge	Rs.78.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest At existing Terms of Repayment At existing Margin At existing Extent and Operation of the charge Term loan of Rs.78.500 Millions including sublimit for one time FLC at sight of Rs.53.340 Millions Others NIL
Short particulars of the property or asset(s) charged (including complete address and location of the property)	E.M. of land and building structures and fixed plant and machinery , existing and future , of the company situated at F-481, RIICO Growth Center, Hamirgarh, Bhilwara Equitable mortage of industrial plot situated at F-482, RIICO Industrial Area, Growth Center, Hamirgarh, Bhilwara
Particulars of the present modification	The facility is further secured by E.M. of factory land and building situated at F-481 and F-482, RIICO Growth Center, Hamirgarh, Bhilwara, along with building structures/ fixed plant and machinery, present and future, in addition to the securities already provided.

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.56.38
UK Pound	1	Rs.87.44
Euro	1	Rs.68.05

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	-
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	-
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	-
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		23

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

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.