MIRA INFORM REPORT

Report Date :

19.06.2012

IDENTIFICATION DETAILS

Name :	TEJ TEXTILES PRIVATE LIMITED
Registered Office :	At Post Khede, Mukkam – Sutrepada, Dhule – 424302, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.01.2005
Com. Reg. No.:	11-150449
Capital Investment/ Paid-up Capital:	Rs.0.100 Million
CIN No.: [Company Identification No.]	U17120MH2005PTC150449
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 its commercial business activities. Payment terms are not known. The company can be considered for business dealings on a secured trade terms and conditions. Profit and Loss account of the company is not available.

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 – 424302, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	cs@samruddha.net

DIRECTORS

As on: 18.08.2011

Name :

Mr. Pradeep Tukaram Patil

Designation :

Managing Director

Address :

At Post Amasade, Taluka Bhadgaon, Jalgaon – 424105, Maharashtra, India

Date of Birth/Age :

01.03.1976

Date of Appointment :

05.01.2005

DIN No.:

01478935

Other Directorships :

Name :

Mr. Kumud Virendra Bahadur

Designation :

Director

Address :

701 1/B, Hill Garden, Chitalsar Manpada, Thane – 400607, Maharashtra, India

Date of Birth/Age :

28.08.1941

Date of Appointment :

05.01.2005

DIN No.:

02450648

Other Directorships :

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	U17120MH2005PTC150449	TEJ TEXTILES PRIVATE LIMITED	Director	05-01-05	05-01-05	-	Active	NO
2	U93000MH2003PTC139822	TEESHEE HOLDINGS Private Limited	Additional director	25-06-09	25-06-09	25-11-09	Active	NO

Name :

Mr. Manoj Vinayak Thakur

Designation :

Additional Director

Address :

44, Telephone Colony, Deopur, Dhule – 424005, Maharashtra, India

Date of Birth/Age :

10.04.1968

Date of Appointment :

28.03.2012

DIN No.:

02798067

Other Directorships :

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	U51900MH1997PLC112284	SAMRUDDHA RESOURCES LIMITED	Whole-time director	12-03-12	13-01-12	-	Active	NO
2	U18101MH2005PTC153080	MADHUSUDHANA TEX FAB PRIVATE LIMITED	Additional director	28-03-12	28-03-12	-	Active	NO
3	U18101MH2005PTC156822	TEXAGE FABRICS PRIVATE LIMITED	Additional director	28-03-12	28-03-12	-	Active	NO
4	U17120MH2005PTC150449	TEJ TEXTILES PRIVATE LIMITED	Additional director	28-03-12	28-03-12	-	Active	NO
5	U93000MH2003PTC141309	TVISH INFRASTRUCTURE PRIVATE LIMITED	Additional director	10-04-12	10-04-12	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 18.08.2011

Names of Shareholders	No. of Shares
Pradeep Tukaram Patil	9100
Kumud Virendra Bahadur	900
Total	10000

As on: 16.05.2012

Names of Allottee	No. of Shares
Pradeep Patil	120000
Kumud Bahadur	120000
Total	240000

Equity Share Break up (Percentage of Total Equity)

As on: 18.08.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Textile and Textile Articles.

Products :

Products Description	Item Code
Textile / Textile Articles	Category – XI

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	· State Bank Of India, SME Branch, Shivsagar Estate, Worli (South), Dr. A.B. Road, Mumbai - 400018, Maharashtra, India · Axis Bank Limited, Andheri Branch, Royal Accord IV, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India · State Bank of Indore

Banking Relations :	--
Auditors :
Name :	N. Ambawat and Associates Chartered Accountants
Address :	132-C, Bhagatwadi, Bhuleshwar, Office No.30, 2^nd Floor, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-65791224/ 66154195
Mobile No.:	91-9324725156/ 9323450396
PAN No.:	AABPA9113F

CAPITAL STRUCTURE

After: 18.08.2011

Authorised Capital :

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: 31.03.2011

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		0.242	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.342	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		0.342	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
DEFERREX 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	0.139	0.081	0.100
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		0.139	0.081	0.100
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.169	0.165
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.008	0.008	0.005
Total Current Liabilities		0.008	0.177	0.170
Net Current Assets		0.131	(0.096)	(0.070)
MISCELLANEOUS EXPENSES		0.135	0.120	0.094
TOTAL		0.342	0.100	0.100

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	0.02	1.77	1.70
Current Ratio (Current Asset/Current Liability)	17.38	0.46	0.59

LOCAL AGENCY FURTHER INFORMATION

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	No
Type of Business	Yes
Line of Business	Yes
Promoters background	Yes
No. of Employees	Yes
Name of Person Contacted	No
Designation of contact person	No
Turnover of firm for last three years	No
Profitability for last three years	No
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

NOTE:

The Registered Office of the company has been shifted from R. No. 431, Adeshwal Park, Building No.8, N M Joshi Marg, Mumbai – 424302, Maharashtra, India, to the present address w.e.f. 10.12.2008.

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U17120MH2005PTC150449
Name of the company	TEJ TEXTILES 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 – 424302, 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, Worli (South), Dr. A.B. Road, Mumbai - 400018, Maharashtra, India E-mail: kamalax_saraf@hotmail.com
Nature of instrument creating charge	Agreement of loan - cum - hypothecation
Date of instrument Creating the charge	17.05.2012
Amount secured by the charge	Rs.7.500 Millions
Brief 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 10.00% p.a. rising or falling therewith, on daily products with monthly rests. Present effective rate = 14.25% p.a. Terms of Repayment To be repaid within 92 months including moratorium period of 11 months. The repayment at quartery interval starting from April 2013. Details as per schedule a of agreement of loan - cum -hypothecation Margin Term loan/ DPG : 25% Extent and Operation of the charge Term loan: RS. 7.500 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of looms, compressor and other movable assets aquired 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.55.60
UK Pound	1	Rs.87.34
Euro	1	Rs.70.66

INFORMATION DETAILS

Report Prepared by :

VRN

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.