MIRA INFORM REPORT

Report Date :

18.06.2012

IDENTIFICATION DETAILS

Name :	ORCHID FOAMS AND BUBBLE PRIVATE LIMITED
Registered Office :	Gut No. 300, Limbe Jalgaon, Turkabad Road, Turkabad Kharadi, Gangapur, Aurangabad-431005, Maharashtra
Country :	India
Date of Incorporation :	25.03.2011
Com. Reg. No.:	11-215320
Capital Investment / Paid-up Capital :	Rs.13.000 Millions
CIN No.: [Company Identification No.]	U25203MH2011PTC215320
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Spun Bonded Non Woven Fabrics.
No. of Employees :	12 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ca (14)

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 :	Recently commence business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a relatively new company and yet establish itself gradually. The company has started its business activities form April 2012. Business is active. Payments are unknown. The concern can be considered for business dealings on a safe and secure 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 [GENERAL DETAILS]

Name :	Mr. Madhusudan Jaiprakash Bihani
Designation :	Director
Contact No.:	91-9405114242
Date :	30.05.2012

LOCATIONS

Registered Office/ Factory :	Gut No. 300, Limbe Jalgaon, Turkabad Road, Turkabad Kharadi, Gangapur, Aurangabad-431005, Maharashtra, India
Tel. No.:	91-2433-225511/22/33
Mobile No.:	91-9405114242 [Mr. Madhusudan Jaiprakash Bihani]
Fax No.:	91-2433-225533
E-Mail :	orchidfoams@gmail.com
Area :	2.5 Acre
Location :	Owned

DIRECTORS

As on 25.03.2011

Name :

Mr. Nandkishor Asaram Baheti

Designation :

Director

Address :

1-264, Shastri Nagar, Post Sailu, Parbhani MS., Sailu-431503, Maharashtra, India

Date of Birth/Age :

14.08.1961

Date of Appointment :

25.03.2011

Din No.:

01728657

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	U25209MH2005PTC151107	BAHETI SYNTHETIC INDIA PRIVATE LIMITED	Director	08-02-05	08-02-05	-	Active	NO
2	U25200MP2007PTC025600	MAHESH ROPES INDIA PRIVATE LIMITED	Director	13-06-07	13-06-07	31-03-09	Active	NO
3	U25203MH2011PTC215320	ORCHID FOAMS AND BUBBLE PRIVATE LIMITED	Director	25-03-11	25-03-11	-	Active	NO

Name :

Mr. Madhusudan Jaiprakash Bihani

Designation :

Director

Address :

A/P. Mrwadi Galli, Sailu TQ Sailu District, Parbhani, Sailu -431503, Maharashtra, India

Date of Birth/Age :

30.07.1986

Date of Appointment :

25.03.2011

Din No.:

03471232

Name :

Mr. Ambrish Kachrulalji Kasat

Designation :

Director

Address :

Mahesh Nagar, Sailu, Taluka Sailu Parbhani (MS), Sailu-431503, Maharashtra, India

Date of Birth/Age :

21.03.1987

Date of Appointment :

25.03.2011

Din No.:

03472415

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.03.2011

Names of Shareholders	No. of Shares
Nandkishor Asaram Baheti	4000
Madhusudan Jaiprakash Bihani	3000
Ambrish Kachrulalji Kasat	3000
Total	10000

As on 04.10.2011

Names of Allottees	No. of Shares
Ambrish Kachrulalji Kasat	120000
Bharti Sunilkumar Kasat	70000
Dhanjay Vijaykumar Bihani	100000
Kanta Santoshkumarji Kasat	70000
Kamlabai Vijaykumar Bihani	50000
Madhusudan Jaiprakash Bihani	221000
Nandkishor Asaram Baheti	229000
Ramvallab Asaramji Baheti	200000
Santoshkumar Kasturchand Kasat	70000
Savitribai Badrinarayan Bihani	60000
Sunil Kasturchand Kasat	70000
Vishal Kachrulalji Kasat	30000
Total	1290000

BUSINESS DETAILS

Line of Business :	Manufacturer of Spun Bonded Non Woven Fabrics.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :	Wholesalers and Retailers
No. of Employees :	12 [Approximately]
Bankers :	State Bank of India, Industrial Finance Branch, Jaggi’s Building, Jalna Road, Kranti Chowk, Aurangabad-431005, Maharashtra, India

Banking Relations :	--
Auditors :	Not Available

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
1300000	Equity Shares	Rs.10/- each	Rs.13.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1300000	Equity Shares	Rs.10/- each	Rs.13.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

NEW COMPANY

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	Yes
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	No
12) Profitability for last three years	No
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	Yes
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	No
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	No
30) Major Shareholders, if available	Yes

NOTE:

The registered office of the company has been shifted from C/O, Vijaykumar Asaram Baldawa, 4/16/86, Coconut Wholesaler, Old Mondha, Aurangabad-431005, Maharashtra, India to the present address w.e.f. 23.02.2012.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U25203MH2011PTC215320
Name of the company	ORCHID FOAMS AND BUBBLE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	C/O, Vijaykumar Asaram Baldawa, 4/16/86, Coconut Wholesaler, Old Mondha, Aurangabad-431005, Maharashtra, India
Type of charge	Book Debts Movable Property [not being pledge] Immovable Property Others
Particular of charge holder	State Bank of India, Industrial Finance Branch, Jaggi’s Building, Jalna Road, Kranti Chowk, Aurangabad-431005, Maharashtra, India
Email	chopade.sbi.co.in@gmail.com
Nature of description of the instrument creating or modifying the charge	1. Letter of Arrangement 2. Deed of Mortgage (Simple Mortgage) 3. Deed of Mortgage (Simple Mortgage)
Date of instrument Creating the charge	05.10.2011
Amount secured by the charge	Rs.80.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest DCC - Improved pricing @3.50% above base rate PER 13.50% p.a. as against applicable rare of 6.00% above base rate effective rate 16% p.a. TL Effective rate @ 16.75% p.a. Terms of Repayment CC - Repayable on Demand TL - 71 installments : repayment in 21 monthly installments of Rs.0.500 Million plus applicable interest repayment in 12 monthly installments of Rs.0.600 Million plus applicable interest repayment in 12 monthly installments of Rs.0.375 Million plus applicable interest repayment in 24 monthly installments of Rs.0.750 Million plus applicable interest repayment in 4 monthly installments of Rs.0.800 Million plus applicable last installment of Rs.1.100 Millions Margin Raw Materials : Raw Materials Imported - 25%, RM Indigenous - 25% SFG - 33.33%, Finished Good - 33.33%, Domestic receivables - 40%, Term Loan -30.42 %, Letters of credit 25.00% Bank Guarantee 25% Extent and Operation of the charge Exclusive first charge on fixed and current assets of the Company and charge on personal properties of guarantors Others Personal guarantees of Mr. Nandkishor A Baheti, Mr. Madhusudan J Bihani, Mr. Ambrish K Kasat, Sau Kantadevi S Kasat, Mr. Vimaladevi K Kasat, Sau Chanda Shyamsunder Ladda, Mr. Jaiprakash B Bihani
Short particulars of the property charged	Second charge by way of registered mortgage of residential Plot No 37, Adm 319.50 Sq mtr MCH No 443 (Old) and 655 (New) Mahesh Nagar Sailu owned by Mrs Kantadevi S Kasat Registered mortgage of residential NA property No 36 MCH No 654 (New) in Survey No 258/2, Mahesh Nagar Sailu District Parbhani owned by Sau Vimaladevi K Kasat Registered mortgage of residential NA property No 19 Survey No 256, area 139.29 sq mtr Keshavraj nagar, Sailu District Parbhani owned by Sau Chanda S Ladda Registered mortgage of NA open plot Nos within municipallimits No 6, 17, 25, 31, and 103 adm area Sqm 375, 180, 131, 25, 217 and 180 respectively in sNo 212 Maruti nagar Sailu owned by Nandkishor Baheti Registered mortgage of NA open plots within municipal limit Nos 2,14,27,55 and 65 adm area sqm 375,180,270,180 and 180 respectively in S No 212 Maruti Nagar Sailu parbhani owned by Mr. jaiprakash Bihani

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

Information Gathered by :	SVA
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		14

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.