MIRA INFORM REPORT

Report Date :

18.06.2012

IDENTIFICATION DETAILS

Name :	AISH TEX FAB PRIVATE LIMITED
Registered Office :	At Post Khede, Mukkam-Sutrepada, Dhule – 424 302, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.06.2005
Com. Reg. No.:	11-154247
Capital Investment / Paid-up Capital :	Rs.0.100 million
CIN No.: [Company Identification No.]	U17120MH2005PTC154247
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Textile and Textile Articles.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Yet to Commence Business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Though the company was incorporated in 2005, it is yet to commence commercial activities. Payment terms are not known. The company can be considered for business dealings on a secured trade terms and conditions. Note: As confirmed from Mr. Vijay Export Manager, subject has not started activity yet and will start from October, 2012.

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

LOCATIONS

Registered Office :	At Post Khede, Mukkam-Sutrepada, Dhule – 424 302, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9769111237 (Mr. Vijay)
Fax No.:	Not Available
E-Mail :	cs@samruddha.net
Branch Office :	Located at: v Shivsagar Business, Mumbai, Maharashtra, India
Tel. No.:	91-22-66619000
Fax No.:	91-22-66619090

DIRECTORS

As on 18.08.2011

Name :

Mr. Rahul Rajaram Kusalkar

Designation :

Director

Address :

At Post Sonai, Tel Newasa, Ahmednagar – 414 105, Maharashtra, India

Date of Birth/Age :

20.07.1978

Date of Appointment :

27.06.2005

DIN No.:

01238687

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	Company/ LLP Status	Defaulting status
1	U17120MH2005PTC154247	Aish Tex Fab Private Limited	Director	27-06-05	27-06-05	Active	NO
2	U51909PN2011PTC139085	Rrk Impex Private Limited	Director	05-04-11	05-04-11	Active	NO

Name :

Mr. Vitthal Nimba Patil

Designation :

Director

Address :

Mukkam Post, Indra Pimpri, Taluka Ambalnar, Jilha Jalgaon – 425 401, Maharashtra, India

Date of Birth/Age :

11.05.1981

Date of Appointment :

27.06.2005

DIN No.:

02440599

Name :

Mr. Manohar Shantilal Patil

Designation :

Additional Director

Address :

A/P Mandal, Teh Dhule, Dhule – 424 005, Maharashtra, India

Date of Birth/Age :

08.05.1984

Date of Appointment :

28.03.2012

DIN No.:

05240844

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	Company/ LLP Status	Defaulting status
1	U17120MH2005PTC154247	Aish Tex Fab Private Limited	Additional director	28-03-12	28-03-12	Active	NO
2	U17120MH2005PTC154245	Simoni Textile Private Limited	Additional director	28-03-12	28-03-12	Active	NO

KEY EXECUTIVES

Name :	Mr. Vijay
Designation :	Export Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 18.08.2011

Names of Shareholders	No. of Shares
Rahul Rajaram Kusalkar	4000
Vitthal Nimba Patil	6000
Total	10000

As on 16.05.2012

Names of Shareholders	No. of Shares
Vitthal Patil	120000
Manohar Patil	120000
Total	240000

As on 18.08.2011

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

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Textile and Textile Articles.

Products :

Product Description	Item Code
Textile / Textile Articles	Category -XI

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	v Axis Bank Limited, Andheri Branch, Royal Accord IV, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India v State Bank of India, SME Branch, Shivsagar Estate, Dr. Annie Besant Road, Worli (South), Mumbai – 400 018, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	N. Ambawat and Associates Chartered Accountants
Address :	Office No.30, 2^nd Floor, 132-C, Bhagatwadi, Bhuleshwar, Mumbai – 400 002, Maharashtra, India
Tel. No.:	91-22-65791224/ 66154195
Mobile No.:	91-9324725156/ 9323450396
Income-tax PAN of auditor or auditor's firm :	AABPA9113F

CAPITAL STRUCTURE

After 18.08.2011

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 millions

As on 18.08.2011

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

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

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.235	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.335	0.100	0.100
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.335	0.100	0.100
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.076	0.076	0.076
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.128	0.075	0.099
	Other Current Assets	0.000	0.000	0.000
	Loans, Advances & Deposits	0.000	0.000	0.000
Total Current Assets		0.128	0.075	0.099
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.160	0.154
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.007	0.007	0.005
Total Current Liabilities		0.007	0.167	0.159
Net Current Assets		0.121	(0.092)	(0.060)
MISCELLANEOUS EXPENSES		0.138	0.116	0.084
TOTAL		0.335	0.100	0.100

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.000	0.000	0.000
		TOTAL	0.000	0.000	0.000
Less	EXPENSES
		Office Expenses	0.000	0.000	0.000
		Administrative Expenses
		Advertising Expenses
		TOTAL	0.000	0.000	0.000
	PROFIT BEFORE TAX		0.000	0.000	0.000
Less	TAX		0.000	0.000	0.000
	PROFIT AFTER TAX		0.000	0.000	0.000
	Earnings Per Share (Rs.)		0.00	0.00	0.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.00	0.00	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00	0.00	0.00
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00
Debt Equity Ratio (Total Liability/Networth)		0.02	1.67	1.59
Current Ratio (Current Asset/Current Liability)		18.29	0.45	0.62

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	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	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	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

Note:

The registered office of the company has been shifted from Mukkam Post, Indra Pimpri, Taluka Ambalnar, Jilha Jalgaon, Maharashtra to the present address w.e.f. 10.12.2008.

BUSINESS ACTIVITY:

The company has not carried on any commercial activities during the year. The management is hopeful to commence commercial activities very soon and waiting for future opportunities.

Bankers Charges Report as per Registry

Corporate identity number of the company	U17120MH2005PTC154247
Name of the company	AISH TEX FAB PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	At Post Khede, Mukkam-Sutrepada, Dhule – 424 302, Maharashtra, India E-Mail: cs@samruddha.net
This form is for	Creation of charge
Type of charge	Book Debts Movable Property (not being pledge)
Particular of charge holder	State Bank of India, SME Branch, Shivsagar Estate, Dr. Annie Besant Road, Worli (South), Mumbai – 400 018, Maharashtra, India E-Mail: kamalax_saraf@hotmail.com
Nature of description of the instrument creating or modifying the charge	Agreement of Loan-cum-Hypothecation (SME-2)
Date of instrument Creating the charge	15.05.2012
Amount secured by the charge	Rs.7.500 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: 3.25% above Base Rate + 1.00% (term premium) which is presently 10% p.a. rising or falling therewith on daily products with monthly rests. Present effective rate 14.25% p. a. Margin: Term Loan/DPG : 25% Extent and Operation of the charge: Term Loan Rs.7.500 millions Others: N.A.
Short particulars of the property charged	Hypothecation of looms, compressor and other movable assets acquired out of bank finance.

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.55.76
UK Pound	1	Rs.86.69
Euro	1	Rs.70.44

INFORMATION DETAILS

Report Prepared by :

SMN

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.