MIRA INFORM REPORT

Report Date :

23.06.2012

IDENTIFICATION DETAILS

Name :	HRISHIKESH TEXFAB PRIVATE LIMITED
Registered Office :	At Post Khede, Mukkam – Sutrepada, Dhule – 424302, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.04.2005
Com. Reg. No.:	11-152913
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U17120MH2005PTC152913
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
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 :	Though the company was incorporated in the year 2005. But they have not commence there business activity. As conformed with Mr. Vijay (Export Manager) subject will start their business activity from October 2012. Payments are unknown. The company can be considered for business dealing 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 – 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 cs.samruddha@gmail.com hemantp27@rediffmail.com

DIRECTORS

(AS ON 18.08.2011)

Name :

Mr. Sagar Gangaram Sadiram

Designation :

Director

Address :

516/9, Pratiksha Nagar, Transit Camp, Sion, Mumbai – 400022, Maharashtra, India

Date of Birth/Age :

28.08.1985

Date of Appointment :

29.04.2005

DIN No.:

02434604

Name :

Mr. Vishal Haribhau Bhagwat

Designation :

Additional Director

Address :

29/229 Laxmi Nagar, Parvati, Pune – 411009, Maharashtra, India

Date of Birth/Age :

02.11.1982

Date of Appointment :

01.12.2010

DIN No.:

03536897

Name :

Mr. Hemant Vishwasrao Patil

Designation :

Additional Director

Address :

A/P, Flat No.11, Shivratna Apartment, 27 Professor Colony, Deopur, Dhule – 424002, Maharashtra, India

Date of Birth/Age :

27.07.1968

Date of Appointment :

28.03.2012

DIN No.:

05240713

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	U17120MH2005PTC152913	HRISHIKESH TEXFAB PRIVATE LIMITED	Additional director	28-03-12	28-03-12	Active	NO
2	U18101MH2005PTC153080	MADHUSUDHANA TEX FAB PRIVATE LIMITED	Additional director	28-03-12	28-03-12	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 18.08.2011)

Names of Shareholders	No. of Shares
Amit Anil Jagtap	5000
Sagar Gangaram Sadiram	5000
Total	10000

(AS ON 16.05.2012)

Names of Shareholders	No. of Shares
Anil Badhane	120000
Hemant Vishwasrao Patil	120000
Total	240000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	50.00
Other top fifty shareholders	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Textile and Textile Articles.

Products :

Products Description	Item Code No.
Textile / Textile Articles	Category – XI

GENERAL INFORMATION

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

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

CAPITAL STRUCTURE

(AS ON 18.08.2011)

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

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

(AS ON 31.03.2011)

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Share	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		0.207	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.307	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		0.307	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	0.118	0.060	0.078
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		0.118	0.060	0.078
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.132	0.127
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.008	0.008	0.005
Total Current Liabilities		0.008	0.140	0.132
Net Current Assets		0.110	(0.080)	(0.054)
MISCELLANEOUS EXPENSES		0.121	0.104	0.078
TOTAL		0.307	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
		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
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000	0.000	0.000
Less	APPROPRIATIONS		0.000	0.000	0.000
	BALANCE CARRIED TO THE B/S		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
Debt Equity Ratio (Total Liability/Networth)	0.03	1.40	1.32
Current Ratio (Current Asset/Current Liability)	14.75	0.43	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
Promoter’s Background	Yes
No. of Employees	No
Name of Person Contacted	No
Designation of Contact person	No
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
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	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

NOTE:

The Registered Office of the company has been shifted from 505/9, Pratiksha Nagar, Transit Camp, Mhada Colony Sunder, Vihar Lane, Sion Police Station, Mumbai, Maharashtra, India, to the present address w.e.f. 10.12.2008.

BUSINESS ACTIVITIES:

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.

FORM 8:

This form is for	Creation of charge
Corporate identity number of the company	U17120MH2005PTC152913
Name of the company	HRISHIKESH TEXFAB 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 cs@samruddha.net
Type of charge	Book Debts Movable Property
Particular of charge holder	State Bank of India SME Branch, Shivsagar Estate, Worli (South), Dr. A.B. Road, Mumbai – 400018, Maharashtra, India kamalax_saraf@hotmail.com
Nature of description of the instrument creating or modifying the charge	Agreement of loan - cum - hypothecation
Date of instrument Creating the charge	10.05.2012
Amount secured by the charge	Rs.7.500 Millions
Brief particulars of the principal terms and 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. Raising 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 quarterly interval starting from April 2013. Margin Term Loan/ DPG : 25% Extent and Operation of the charge Term Loan: Rs.7.500 Millions
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.56.99
UK Pound	1	Rs.88.97
Euro	1	Rs.71.57

INFORMATION DETAILS

Report Prepared by :

NIT

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.