MIRA INFORM REPORT

Report Date :

02.01.2013

IDENTIFICATION DETAILS

Name :	GOPINATH SPINNING PRIVATE LIMITED
Registered Office :	“Yogin Flats”, Ground Floor, 63, Suvarnapuri Society, Chikuwadi, Jetalpur Road, Vadodara - 390007, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.12.2003
Com. Reg. No.:	04-054454
Capital Investment / Paid-up Capital :	Rs.30.000 Millions
CIN No.: [Company Identification No.]	U17111GJ2003PTC054454
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Combed Cotton Yarn and Blended Yarn.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

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 :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The latest financial is missing from government department. And from the previous year record their appears huge accumulated losses. Profitability of the company is under pressure. However, trade relations are reported to be fair. Business is active. Payments are unknown. The company can be considered for business dealing on a safe and 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	D
Rating Explanation	This rating are in default or are expected to be in default soon.
Date	April 2011

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.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Dharshan
Designation :	Account Manager
Contact No.:	91-265-2321353
Date :	28.11.2012

LOCATIONS

Registered Office :	“Yogin Flats”, Ground Floor, 63, Suvarnapuri Society, Chikuwadi, Jetalpur Road, Vadodara - 390007, Gujarat, India
Tel. No.:	91-265-2321353/ 2669016
Fax No.:	91-265-2669017/ 2669017 / 2331945
E-Mail :	info@gopinathspinnig.com kamlesh_gopinathspin@yahoo.co.in
Website :	http://www.gopinathspinning.com
Factory :	Falguni's Compound, Survey No. 259 -22/2 and 23/1. Navi Nagri, Jindal Road, Near Raju Plastic, Damnl Road, Dadra - 396230, Dadra and Nagar Haveli
Tel. No.:	91-260-2669016/ 2669017
Fax No.:	91-260-2669017

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Yoginkumar Ashokbhai Patel

Designation :

Managing Director

Address :

B-4, Laxmi Colony, Urmi Char Rasta, Akota, Baroda – 390007, India

Date of Birth/Age :

11.03.1980

Date of Appointment :

26.12.2003

DIN No.:

00459140

Name :

Mr. Paresh Babubhai Patel

Designation :

Director

Address :

1000, Shanudeep Building, 10^th Floor, Altamound Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

04.04.1979

Date of Appointment :

26.12.2003

DIN No.:

00940633

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	U99999MH1997PTC105648	SHREEJI ALUMINIUM PRIVATE LIMITED	Director	02/04/1997	02/04/1997	-	Not Available for eFiling	NO
2	U70200DN1999PTC000135	SHREEJI ALUMINIUM PRIVATE LIMITED (TR. FROM MAHARASHTRA TO GUJ)	Director	10/05/1999	10/05/1999	-	Active	NO
3	U51909GJ1991PTC015067	SHIV ENTERPRISES EXIMP PRIVATE LIMITED	Director	01/04/2000	01/04/2000	-	Active	NO
4	U17111GJ2003PTC054454	GOPINATH SPINNING PRIVATE LIMITED	Director	26/12/2003	26/12/2003	-	Active	NO
5	U27109DN2011PTC000367	SWAMI NARAYAN HARE METALS PRIVATE LIMITED	Director	28/04/2011	28/04/2011	-	Active	NO

Name :

Mr. Bharat Shantilal Shah

Designation :

Director

Address :

401, Guru Ashish, Bapubhai Vasi Road, Ville Parle (west), Mumbai – 400 057, Maharashtra, India

Date of Birth/Age :

03.03.1947

Date of Appointment :

30.09.2005

DIN No.:

01439910

Name :

Mr. Mahendra Ottamchand Avlani

Designation :

Director

Address :

1001, Kalindi Nilkanth Valley, Ghatkopr (East), Mumbai – 400 077, Maharashtra, India

Date of Birth/Age :

20.07.1939

Date of Appointment :

30.09.2005

DIN No.:

01440010

Name :

Mr. Jinesh Avlani

Designation :

Director

Address :

1001, Kalindi Nilkanth Valley, Ghatkopr (East), Mumbai – 400 077, Maharashtra, India

Date of Birth/Age :

06.11.1970

Date of Appointment :

21.03.2005

DIN No.:

01683618

Name :

Mr. Kamlesh Vitthalbhai Patel

Designation :

Managing Director

Address :

102, Pramukh Complex, Sahajanand Kutir, Munjmuhad – 390 020, Baroda, India

Date of Birth/Age :

17.01.1973

Date of Appointment :

27.01.2005

DIN No.:

01942712

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	U17111GJ2003PTC054454	GOPINATH SPINNING PRIVATE LIMITED	Managing director	27/01/2005	27/01/2005	-	Active	NO
2	U17119GJ1994PTC021505	KRISHNA INTERTEX PRIVATE LIMITED	Director	17/09/2012	20/08/2011	-	Active	NO

Name :

Mr. Babubhai Kanjibhai Patel

Designation :

Director

Address :

401, Guru Ashish, Bapubhai Vasi Road, Ville Parle (west), Mumbai – 400 057, Maharashtra, India

Date of Birth/Age :

04.01.1947

Date of Appointment :

30.09.2005

DIN No.:

00940767

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	U51909GJ1991PTC015067	SHIV ENTERPRISES EXIMP PRIVATE LIMITED	Director	15/02/1991	15/02/1991	-	Active	NO
2	U99999MH1997PTC105648	SHREEJI ALUMINIUM PRIVATE LIMITED	Director	02/04/1997	02/04/1997	-	Not Available for eFiling	NO
3	U70200DN1999PTC000135	SHREEJI ALUMINIUM PRIVATE LIMITED (TR. FROM MAHARASHTRA TO GUJ)	Director	10/05/1999	10/05/1999	-	Active	NO
4	U17111GJ2003PTC054454	GOPINATH SPINNING PRIVATE LIMITED	Director	30/09/2005	01/06/2005	-	Active	NO
5	U27109DN2011PTC000367	SWAMI NARAYAN HARE METALS PRIVATE LIMITED	Director	28/04/2011	28/04/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Dharshan
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Yogin Patel	5000
Paresh Patel	5000
Bharatbhai Shantilal Shah joint with Induben Shah and Amee Panchal	270000
Bharatbhai Shantilal Shah joint with Induben Shah	270000
Mahendrabhai Avlani joint with Kalpana Avlani and Jinesh Avlani	252000
Kalpana Avlani joint with Mahendrabhai Avlani and Jinesh Avlani	108000
Yogin Patel joint with Umaben Patel	295000
Umaben Patel joint with Yogin Patel	300000
Kinnerben Patel joint with Umaben Patel	150000
Falguniben Patel joint with Umaben Patel	150000
Paresh Patel joint with Chetanbhai Patel	295000
Babubhai Patel joint with Chetanbhai Patel	300000
Chetanbhai Patel joint with Babubhai Patel	300000
Kamlesh Patel joint with Nita Patel and Yogin Patel	100000
Kamlesh Patel joint with Nita Patel and Chetanbhai Patel	100000
Kamlesh Patel joint with Nita Patel and Bharatbhai Patel	60000
Kamlesh Patel joint with Nita Patel and Mahendrabhai Avlani	40000
TOTAL	3000000

AS ON 31.08.2012

Names of Allottees	No. of Equity Shares
Yogin Patel	5000
Paresh Patel	5000
Bharatbhai Shantilal Shah joint with Induben Shah and Amee Panchal	270000
Bharatbhai Shantilal Shah joint with Induben Shah	270000
Mahendrabhai Avlani joint with Kalpana Avlani and Jinesh Avlani	252000
Kalpana Avlani joint with Mahendrabhai Avlani and Jinesh Avlani	108000
Yogin Patel joint with Umaben Patel	295000
Umaben Patel joint with Yogin Patel	300000
Kinnerben Patel joint with Umaben Patel	150000
Falguniben Patel joint with Umaben Patel	150000
Paresh Patel joint with Chetanbhai Patel	295000
Babubhai Patel joint with Chetanbhai Patel	300000
Chetanbhai Patel joint with Babubhai Patel	300000
Kamlesh Patel joint with Nita Patel and Yogin Patel	100000
Kamlesh Patel joint with Nita Patel and Chetanbhai Patel	100000
Kamlesh Patel joint with Nita Patel and Bharatbhai Patel	60000
Kamlesh Patel joint with Nita Patel and Mahendrabhai Avlani	40000
TOTAL	3000000

AS ON 31.08.2012

Names of Allottees	No. of Preference Shares
Yogin Patel	210000
Paresh Patel jointly with Umaben Petal	590000
Umaben Petal jointly with Yogin Patel	600000
Kinneriban Patel jointly with Umaben Petal	300000
Falguniben Patel joint with Umaben Patel	300000
Paresh Patel	10000
Paresh Patel joint with Chetanbhai Patel	590000
Babubhai K Patel joint with Chetanbhai Patel	600000
Chetanbhai Patel joint with Babubhai Patel	800000
Bharatbhai Shah joint with Induben Shah and Amee Panchal	660000
Bharatbhai Shah joint with Induben Shah	540000
Mahendrabhai Avlani joint with Kalpana Avlani and Jinesh Avlani	584000
Kalpana Avlani joint with Mahendrabhai Avlani and Jinesh Avlani	216000
TOTAL	6000000

AS ON 30.09.2011

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Combed Cotton Yarn and Blended Yarn.

Products :

ITC Code	Product Description
2351	Cotton / Poly Yarn

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS (AS ON: 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Yarn [Including Cotton Yarn, Blended Yarn, and Polyester Yarn (excluding Wastage)]	MTS	3500	3000	836.580

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

· Bombay Dyeing and Manufacturing Company Limited

· Reliance Industries Limited

· Van Enterprises

· Suzuki Textiles Limited

· Gimatex Industries Private Limited

No. of Employees :

100 (Approximately)

Bankers :

· Bank of Baroda, Khand Bazar Branch, 129/131, Kazi Sayed Street, Mumbai – 400003, Maharashtra, India

· Bank of Baroda, Khand Bazar Branch, Masjid Bunder, Khand Bazar, Mumbai – 400003, Maharashtra, India

Facilities :

Cash Credit Rs.50.000 Millions (From Bank of Baroda)

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Term Loan [Domestic]	56.488	81.370
Cash Credit [Both the above loans are secured by equitable mortgage of fixed assets of the company i.e. land and building situated at Dadra (UT) bearing S. No. 259, 23/1 and 22/2 and further secured by hypothecation of plant and machinery, equipments tools and other movable assets excluding inventory. Both the above loans are further guaranteed by directors in their personal capacity and by equitable mortgage on some of their personal assets offered as collateral security.]	20.199	13.966
TOTAL	76.687	95.336
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Directors	240.140	147.397
From Members	34.960	34.960
From Others	14.500	67.775
TOTAL	289.601	250.132

Banking Relations :	--
Auditors :
Name :	Divyakant Zaveri and Company Chartered Accountants
Address :	101, Nyota Apartment, 6, Country Side Estate, Near Reliance Petrol Pump, Gotri, Vadodara – 390021, Gujarat, India
PAN No.:	AABPZ5582H
Enterprise over which key management Personal and their relatives have significant influence :	· Atlas Exports (India) · Arihant Enterprises · Amber Exims · Addis Textiles · Shreeji Aluminum Private Limited · Shiv Ent. Eximp Private Limited · Shiv Enterprises

CAPITAL STRUCTURE

After: 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Millions
6000000	Non-Convertible Redeemable Preference Shares	Rs.10/- each	Rs.60.000 Millions
	Total		Rs.120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Millions
6000000	Non-Convertible Redeemable Preference Shares	Rs.10/- each	Rs.60.000 Millions
	Total		Rs.120.000 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

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		30.000	30.000	30.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(134.706)	(101.713)	(62.556)
NETWORTH		(104.706)	(71.713)	(32.556)
LOAN FUNDS
1] Secured Loans		76.687	95.336	107.898
2] Unsecured Loans		289.601	250.132	203.062
TOTAL BORROWING		366.288	345.468	310.960
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		261.582	273.755	278.404
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		244.766	256.278	263.808
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	29.824	19.486	12.404
	Sundry Debtors	11.784	10.182	5.559
	Cash & Bank Balances	4.544	3.437	3.942
	Other Current Assets	0.816	0.575	0.365
	Loans & Advances	3.587	5.510	7.794
Total Current Assets		50.555	39.190	30.064
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	31.367	18.896	10.786
	Other Current Liabilities	0.084	0.008	0.033
	Provisions	2.539	3.087	4.958
Total Current Liabilities		33.990	21.991	15.777
Net Current Assets		16.566	17.199	14.287
MISCELLANEOUS EXPENSES		0.250	0.278	0.309
TOTAL		261.582	273.755	278.404

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	146.374	102.789	66.948
		Trading Profit	0.000	0.000	0.118
		Other Income	0.000	1.199	2.093
		TOTAL (A)	146.374	103.988	69.159
Less	EXPENSES
		Raw Material Consumed		71.758	47.667
		Employees Remuneration		10.950	8.598
		Manufacturing Expenses		30.717	22.989
		Administrative Expenses		3.667	2.967
		Selling and Distribution Expenses		2.717	1.267
		Preliminary Expenses Written Off		0.031	0.000
		Increase / Decrease in Stocks		(7.370)	(3.293)
		TOTAL (B)	165.441 (Including Financial Expenses)	112.470	80.195
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			(8.482)	(11.036)
Less	FINANCIAL EXPENSES (D)			17.059	17.668
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(19.067)	(25.541)	(28.704)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		13.926	13.616	13.044
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(32.993)	(39.157)	(41.748)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(32.993)	(39.157)	(41.748)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(101.713	(62.556)	(20.808)
	BALANCE CARRIED TO THE B/S		(134.706)	(101.713)	(62.556)
	Earnings/ (Loss) Per Share (Rs.)		(10.99)	(13.05)	(13.92)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(22.54)	(37.65)	(60.37)
Net Profit Margin (PBT/Sales)	(%)	(22.54)	(38.09)	(62.36)
Return on Total Assets (PBT/Total Assets}	(%)	(11.17)	(13.25)	(14.21)
Return on Investment (ROI) (PBT/Networth)		0.31	0.55	1.28
Debt Equity Ratio (Total Liability/Networth)		(2.66)	(5.12)	(10.04)
Current Ratio (Current Asset/Current Liability)		1.49	1.78	1.91

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
17]	Major suppliers	No
18]	Major customers	Yes
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	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
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	Yes

FINANCIAL RESULT:

During the period the company has earned total Income of Rs.146.374 Millions as compared to Rs. 111.358 Millions in the previous year. However, due to increase in manufacturing, administration and interest cost, the Company has incurred net loss of Rs. 32.993 Millions as compared to loss of Rs. 39.156 Millions in the previous year.

During the FY 2010-11, the Company continued to face various challenges at different fronts including power, production, finance, raw materials and personnel

To cope up with its power requirement, the Company installed second hand DG Set at its factory site. However, due to shortage of working capital, skill man power and power supply, the Company could operate with 14 ring frame machines, which constitutes about 40 to 50 % of its installed capacity In fact, two more machines are ready to put to use as soon as the desired power is connected. However, on a brighter side, the demand for Company's both the products viz Polyster Viscose (PV) and Polyster Cotton remained encouraging through out the year and it is expected that with the desired level of power, finance and man power, the Company would perform better in the coming period.

FORM 8

Corporate identity number of the company	U17111GJ2003PTC054454
Name of the company	GOPINATH SPINNING PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	“Yogin Flats”, Ground Floor, 63, Suvarnapuri Society, Chikuwadi, Jetalpur Road, Vadodara - 390007, Gujarat, India E-mail: info@gopinathspinnig.com
This form is for	Modification of charge
Charge identification number of the charge to be modified	10104613
Type of charge	Immovable property
Particular of charge holder	Bank of Baroda, Khand Bazar Branch, Masjid Bunder, Khand Bazar, Mumbai – 400003, Maharashtra, India E-mail: Khandb@bankofbaroda.com
Nature of instrument creating charge	Second extension of mortgage by memorandum of deposit of title deeds for extension of equitable mortgage dated 22.12.2011
Date of instrument Creating the charge	22.12.2011
Amount secured by the charge	Rs.137.092 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Term loan-I, ii and III: 6.25%over base rate i.e.17% p.a. With monthly rest (2) cc.:6.25%over base rate i.e.17% p.a. (floating) with monthly rest.(3) inland / foreign guarantee: as per bank's guidelines. Terms of repayment (1) Term loan I :16 quarterly installments of Rs. 3.195 Millions each, starting from April 2009, last installment of Rs. 3.187 Millions. (2) Term loan - II: 16 quarterly installments of Rs. 2.907 Millions each, starting from April, 2009, last installment will be of Rs. 2.895 Millions. (3) New term loan III-20 quarterly installments of Rs. 2.000 Millions each, starting from September, 2012. (4) C.C.: HP of stock and BD) cum packing creditcum FBP/FBD for 90 days: for a period of 12 months. Margin 1. Rupee term loan I (existing) : 27.55% original when buyers credit was availed. 2. Term loan - ii (existing): 35%. 3. New term loan iii: nil 4. Cash credit (hp of stock and BD): 25% on stock, 40% on book debts not exceeding 90 days, packing credit - 25%, FBP/UFBP - nil 5. Inland / foreign guarantee :25% cash margin Extent and operation of the charge The company has extended the equitable mortgage by depositing the title deeds of its immovable properties situated at survey no. 259/22/2, admeasuring about 8000 square meters and survey no. 259/23/1, admeasuring about 8000 square meters, both situated in the Village Dadra in the Union Territory of Dadra and Nagar Haveli for the purpose of securing the various credit facilities aggregating to Rs.173.800 Millions as sanctioned by the bank. Other As mentioned in the bank's sanctioned letter bearing no. KBB:ADV:2011:833 dated 14.11.2011 The break up of various limits, aggregating to Rs. 137.092 Millions is as under: 1.term loan (existing) : Rs. 17.430 Millions 2.term loan - II (existing)( conversion of existing L/C cum buyers credit into t/l) :19.162Millions 3.newterm loan -III : Rs. 40.000 Millions 4. Cash credit (hp of stock and BD) cum packing credit cum FBP/FBD for 90 days: 50.000 Millions 5. Inland / foreign guarantee : 10.500 Millions
Short particulars of the property charged (Including location of the property)	1. Equitable mortgage by depositing the tile deeds of company's immovable properties situated at survey no. 259/22/2, admeasuring about 8000 square meters and survey no. 259/23/1 2. Admeasuring about 8000 square meters. Both situated in the Village Dadra in the Union Territory of Dadra and Nagar Haveli together with building / structure standing thereon belonging to the company. 3. Land bearing plot number 4 (P), admeasuring 753.83 square meters, forming part of survey no. 52(P), survey no. 53(P) of village Karanje, District Surat, Gujarat belonging to Shiv Enterprises. 4. Flat No. 2, 1st Floor in Maheshwar Shikhar Co-Operative Housing Society Limited, constructed on land bearing plot no. 55-b of santacruz town planning scheme no. Iv and bearing C.T.S No. G/231, 5. Situated at Village-Danda, Mumbai Suburban District, registration District Mumbai, within the limits of greater mumbai, belonging to Umaben Ashok Kumar Patel
Whether any of the property or interest therein under reference is not registered in the name of the company. If yes, in whose name it is registers	Yes Messers Shiv Enterprise and Umaben Ashok Kumar Patel
Date of instrument modifying the charge	22.11.2008
Particulars of the present modification	At the request of the company, the bank has reviewed, modified and granted revised credit facilities with aleterd terms and conditions. The total limits now stands modified from existing Rs. 130.600 Millions to Rs. 137.092 Millions. Thus, the original equitable mortgage charge as created by the company on 16.10.2006 for Rs. 173.800 Millions, subsequently modified to Rs. 1306.000 Millions on 12.11.2008, is now further modified and extended on 22.12.2011 to secure the revised facilities of Rs. 137.092 Millions.

TRADE REFERENCES:

· Bombay Dyeing

FIXED ASSETS

· Land

· Factory Building

· Plant and Machinery

· Electrical Installation

· DG Set

· Furniture and Fixtures

· Computer

· Safety Equipments

· Office Equipments

· Motor Cars

· Mobile Phones

· Vehicles

· Air Conditioners

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.54.83
UK Pound	1	Rs.89.23
Euro	1	Rs.72.48

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		12

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.