MIRA INFORM REPORT

Report Date :

25.09.2012

IDENTIFICATION DETAILS

Name :	DAKSH TEX FAB PRIVATE LIMITED
Registered Office :	At Post: Khede, Mukkam Sutrepada Taluka – Dhule- 424302 Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.05.2005
Com. Reg. No.:	11-153082
Capital Investment / Paid-up Capital :	Rs.0.100 million
CIN No.: [Company Identification No.]	U17120MH2005PTC153082
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Textile / 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 Activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated in the year 2005. But they have not yet started with their business activity. As conformed with Mr. Vijay export manager the company is going to start their business activity from October 2012. Payment are Unknown. The company can be considered for business dealing on a safe and secured terms and condition.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	At Post: Khede, Mukkam Sutrepada Taluka – 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. Sunil Padurang Deshmukh

Designation :

Additional Director

Address :

9, Sant Gadghe Baba Colony, Deopur Dhule – 424005, Maharashtra India

Date of Birth/Age :

24.11.1968

Date of Appointment :

01.11.2011

DIN No:

01367697

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	U64200MH2000PLC126737	SAMRUDDHA INTERNATIONAL LIMITED	Director	10/01/2005	10/01/2005	15/01/2007	Active	NO
2	U17120MH2005PTC153903	ARTISAN TEX FAB PRIVATE LIMITED	Director	10/06/2005	10/06/2005	-	Active	NO
3	U17120MH2005PTC153082	DAKSH TEX FAB PRIVATE LIMITED	Additional director	01/11/2011	01/11/2011	-	Active	NO

Name :

Mr. Ashwini Patil

Designation :

Director

Address :

302, Purna Worli Sagar, H.S.G. Society Sir Pochkhanwala Road Worli Mumbai - 4 00018, Maharashtra, India

Date of Birth/Age :

21.12.1975

Date of Appointment :

29.06.2007

DIN No:

01482202

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	U51909MH2003PTC141116	KALAHASTI DEVELOPMENTS AND FARMING PRIVATE LIMITED	Director	01/07/2003	01/07/2003	-	Active	NO
2	U17120MH2005PTC155159	SANGINI TEXFAB PRIVATE LIMITED	Director	05/08/2005	05/08/2005	-	Active	NO
3	U17120MH2005PTC153082	DAKSH TEX FAB PRIVATE LIMITED	Director	29/06/2007	29/06/2007	-	Active	NO
4	U17111MH2006PTC161691	PARIDHAN TEXTILE PRIVATE LIMITED	Director	29/06/2007	29/06/2007	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 18.08.2011

Names of Shareholders	No. of Shares
Shelar Suresh	5000
Rewale Govind	5000
Total	10000

List of Allottees (As on 16.05.2012)

Names of Allottees	No. of Shares
Mr. Aswain Patil	110000
Mr. Sunil Deshmukh	100000
Total	210000

As on 18.08.2011

Equity Share Break up (Percentage of Total Equity)

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

BUSINESS DETAILS

Line of Business :

Manufacturer of Textile / Textile Articles.

Product:

Item code No:	Product Description
CATEGORY - XI	TEXTILE/ TEXTILE ARTICLES

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	State Bank Of India, Sme Branch, Shivsagar Estate, Dr. Annie Basant Road, Worli(South),, Mumbai - 400018, Maharashtra, India Axis Bank Limited, Andheri Branch, Royal Accord IV, Lokhandwala Complex, Andheri (West), Mumbai - 400053, 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 :	91-9324725156 / 9323450396
Qualification:	B.com / F.C.A, A.C.S., L.L.B.
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
220000	Equity Shares	Rs.10/- each	Rs. 2.200 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		0.140	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.240	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		0.240	0.100	0.100
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.016	0.016	0.016
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	0.111	0.043	0.067
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		0.111	0.043	0.067
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.009	0.065	0.060
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.008	0.007	0.004
Total Current Liabilities		0.017	0.072	0.064
Net Current Assets		0.094	(0.029)	0.003
MISCELLANEOUS EXPENSES		0.130	0.113	0.081
TOTAL		0.240	0.100	0.100

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	NIL	NIL	NIL
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NIL	NIL	NIL
	PROFIT BEFORE TAX		NIL	NIL	NIL
Less	TAX		NIL	NIL	NIL
	PROFIT AFTER TAX		NIL	NIL	NIL

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NIL	NIL	NIL
Net Profit Margin (PBT/Sales)	(%)	NIL	NIL	NIL
Return on Total Assets (PBT/Total Assets}	(%)	NIL	NIL	NIL
Return on Investment (ROI) (PBT/Networth)		NIL	NIL	NIL
Debt Equity Ratio (Total Liability/Networth)		0.07	0.72	0.64
Current Ratio (Current Asset/Current Liability)		6.52	0.59	1.05

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE:

The Registered Office of the company has been shifted from Esis Hospital Quarter No 4R No 5 Ganpat Jadhav Marg Worli Mumbai - 400018, Maharashtra, India to the present address w.e.f.01.12.2008

Bankers Charges Report as per Registry

Corporate identity number of the company	U17120MH2005PTC153082
Name of the company	DAKSH 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 Taluka – Dhule- 424302 Maharashtra, India 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 Basant Road, Worli(South),, Mumbai - 400018, Maharashtra, India kamalax_saraf@hotmail.com
Nature of instrument creating charge	Agreement of Loan-Cum-Hypothecation (Sme-2)
Date of instrument Creating the charge	14.05.2012
Amount secured by the charge	Rs. 6.700 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. Terms of Repayment Term Loan Repayment As Per Annexure Margin Term Loan/DPG : 25% Extent and Operation of the charge Term Loan : RS.6.700 millions
Short particulars of the property charged	Hypothecation of looms, HVAC 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 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.53.29
UK Pound	1	Rs.86.44
Euro	1	Rs.68.95

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	DPK

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

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.