MIRA INFORM REPORT

Report Date :

03.05.2012

IDENTIFICATION DETAILS

Name :	PERLEI TEXTILES PRIVATE LIMITED
Registered Office :	1/1, J-14, Thanneerpanthal Colony, Anupparpalayam, Post Tirupur-641652, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	01.06.2010
Com. Reg. No.:	18-016099
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U17200TZ2010PTC16099
TAN No.: [Tax Deduction & Collection Account No.]	CMBP05751E
PAN No.: [Permanent Account No.]	AAFCP5217L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Cotton Hosiery Garments and Hosiery Cloth.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 61000
Status :	New Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively new company establishing itself gradually. Trade relations are reported as fair. Business is active. Payments are reported to be slow. 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 – 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 :	1/1, J-14, Thanneerpanthal Colony, Anupparpalayam, Post Tirupur-641652, Tamilnadu, India
Tel. No.:	91-421-2257153
Fax No.:	Not Available
E-Mail :	ganravi@gmail.com amit_mohatta@yahoo.com
Branch Office:	R30, Prime Apartments, Gandhinagar, Opposite Prime Textiles, Tirupur-641603, Tamilnadu, India

DIRECTORS

As on 29.09.2011

Name :

Mr. Amit Giriraj Mohatta

Designation :

Managing Director

Address :

423/4/5, Laxmi Pro. Ichalkaranji-416115, Maharashtra, India

Date of Birth/Age :

14.11.1979

Date of Appointment :

01.06.2010

Din No.:

01221429

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U17118PN1983PTC030591	AMIT WEAVING MILLS PRIVATE LIMITED	Director	06-01-07	06-01-07	30-08-10	Active	NO
2	U17200TZ2010PTC016099	PERLEI TEXTILES PRIVATE LIMITED	Managing director	01-04-11	01-06-10	-	Active	NO

Name :

Mrs. Neela Giriraj Mohatta

Designation :

Director

Address :

Ganganagar, 1101, Ichalkaranji-416005, Maharashtra, India

Date of Birth/Age :

16.09.1959

Date of Appointment :

01.06.2010

Din No.:

03080150

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Amit Giriraj Mohatta	2500
Giriraj Neela Mohatta	3000
Perlei GmbH, Germany	3000
Amisha	1500
Total	10000

As on 29.09.2011

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	30.00
Directors or relatives of directors	70.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Cotton Hosiery Garments and Hosiery Cloth.

Products :

PRODUCT DESCRIPTION	ITEM CODE
Cotton Hosiery Garments	610100-00
Hosiery Cloth	600243-01

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

The Federal Bank Limited, Industrial Finance Branch, 131A, Mangalam Road, Tirupur-641604, Tamilnadu, India

Facilities :

SECURED LOAN	AS ON 31.03.2011 [RS. IN MILLIONS]
Packing Credit Federal Bank Limited	24.989
FBN A/C Federal Bank Limited [Secured by hypothecation of movable assets]	24.041
Total	49.030
UNSECURED LOAN
Amit Giriraj Mohatta	3.602
Neela Giriraj Mohatta	3.000
Total	6.602

Banking Relations :	--
Auditors :
Name :	R Sivaraj Chartered Accountants
Address :	1 (1), SPK Building, Binny Compound, 2^nd Street, Kumaran Road, Coimbatore-641601, Tamilnadu, India
Pan No.:	AKXPS1512L

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs.1.000 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		13.900
3] Reserves & Surplus		1.380
4] (Accumulated Losses)		0.000
NETWORTH		15.380
LOAN FUNDS
1] Secured Loans		49.030
2] Unsecured Loans		6.602
TOTAL BORROWING		55.632
DEFERRED TAX LIABILITIES		0.259
TOTAL		71.271
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.685
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.637
	Sundry Debtors	50.635
	Cash & Bank Balances	1.751
	Other Current Assets	0.000
	Loans & Advances	10.252
Total Current Assets		78.275
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.735
	Other Current Liabilities	0.238
	Provisions	1.906
Total Current Liabilities		12.879
Net Current Assets		65.396
MISCELLANEOUS EXPENSES		0.190
TOTAL		71.271

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income
		Other Income
		TOTAL (A)	74.776
Less	EXPENSES
		Office Expenses
		Administrative Expenses	70.247
		Advertising Expenses
		TOTAL (B)	70.247
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4.529
Less	FINANCIAL EXPENSES (D)		1.636
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.893
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.603
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		2.290
Less	TAX (H)		0.909
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		1.381
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	69.400
	IMPORTS
		Raw Materials	2.463
	Earnings / (Loss) Per Share (Rs.)		1380

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	1.85
Return on Total Assets (PBT/Total Assets}	(%)	2.73
Return on Investment (ROI) (PBT/Networth)		0.15
Debt Equity Ratio (Total Liability/Networth)		4.45
Current Ratio (Current Asset/Current Liability)		6.07

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 one year	Yes
12) Profitability for 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	Yes
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

PERFORMANCE:

The company has achieved a turnover of Rs.74.776 millions during the first year of its operation. The company has earned a net profit of Rs.4.529 millions before depreciation, interest and taxes, during the year. The directors are confident of achieving better results in the ensuring year.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U17200TZ2010PTC016099
Name of the company	PERLEI TEXTILES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	R30, Prime Apartments, Gandhinagar, Opposite Prime Textiles, Tirupur-641603, Tamilnadu, India
Type of charge	Book Debts Movable Property (not being pledge) Floating Charge
Particular of charge holder	The Federal Bank Limited, Industrial Finance Branch, 131A, Mangalam Road, Tirupur-641604, Tamilnadu, India
Email	tpr@federalbank.co.in
Nature of description of the instrument creating or modifying the charge	01 Agreement for export advances 02 Agreement for hypothecation of plant and machinery as additional security
Date of instrument Creating the charge	01.11.2010
Amount secured by the charge	Rs.75.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest PCL of Rs.25.000 Millions - 10.5% PF 0.25% and FDBP/FUBP (LC ) of Rs.50.000 Millions - 10.5% PF 0.25% Terms of Repayment Repayable on demand Margin PCL - 25% FDBP/FUBP(LC) – NA Extent and Operation of the charge First and exclusive charge by way of hypothecation on the entire current assets of the company such as raw materials, semi finished goods, finished goods, book debts, export receivables and other movables including all plant and machineries ( as to Agreement of P and M valuing Rs.4.000 Millions ) both present and future of the company
Short particulars of the property charged	First and exclusive charge by way of hypothecation on the entire current assets of the company such as raw materials, semi finished goods, finished goods, book debts, export receivables and other movables including all plant and machineries ( as to Agreement of P and M valuing Rs.4.000 Millions ) both present and future of the company

FIXED ASSETS:

· Plant and Machinery

· Furniture and Fixtures

· Electrical Fittings

· Computer

· Vehicles

· Office Equipments

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.52.93
UK Pound	1	Rs.85.85
Euro	1	Rs.69.94

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		26

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.