MIRA INFORM REPORT

Report Date :

25.01.2013

IDENTIFICATION DETAILS

Name :	EUROFIBERS B.V.

Registered Office :	Volksbondweg 5 6214AP Maastricht

Country :	Netherlands

Financials (as on) :	31.12.2011

Date of Incorporation :	04.03.2011

Legal Form :	Besloten Vennootschap

Line of Business :	Wholesale of textile basic materials and textile semi-finished products

No. of Employees :	1

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

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^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Netherlands

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

NETHERLANDS - ECONOMIC OVERVIEW

The Dutch economy is the fifth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 3.8% of GDP.

Source : CIA

CONTACTINFORMATION

Company name EuroFibers B.V.

Tradename EuroFibers

Address Volksbondweg 5 6214AP Maastricht Netherlands

Mail address Volksbondweg 5 6214AP Maastricht Netherlands

Telephone number 0433040014

E-mail address info@eurofibers.eu

Website www.eurofibers.eu

VAT number / RSIN 850207186

COMPANY STRUCTURE

Holding company	Truffle Ventures B.V.
	Volksbondweg 5
	6214AP MAASTRICHT
	KvK: 51868539

Real estate Lease

The real estate is checked at the land registration office Object code: MAASTRICHT D 2658 Owner: Marcel Pierre Henry Alberts Description: Volksbondweg 5 6214 AP MAASTRICHT

MANAGEMENT

Management	Truffle Ventures B.V.
	Volksbondweg 5
	6214AP MAASTRICHT
	Netherlands
	KvK: 51868539
	Authorization: Fully authorized
	Position: General director
	Date appointed: 28-02-2011
	S.S. Feenstra
	Simon Sytze
	Position: Commissaris
	Date appointed: 28-02-2011
	Date of birth: 27-06-1945
	D.P. van Maren
	Dirk Pieter
	Position: Commissaris
	Date appointed: 28-02-2011
	Date of birth: 30-12-1946

PAYMENT INFORMATION

Payment experiences No complaints are known

FINANCIAL INFORMATION

Publication financial statement	Annual accounts 2011 are published on 27-04-2012
Type of publication	Corporate
Publication	Steady

CORE FIGURES

BOOKYEAR	2011	2010
Quick ratio	1,38	0,00
Current ratio	2,36	0,00
Nett workingcapital / Balance total	0,58	1,00
Capital and reserves / Balance total	0,44	1,00
Capital and reserves / Fixed assets	-	-
Solvency	0,78	0,00
Nett workingcapital	290.029	141.792
Capital and reserves	220.029	141.792
Change capital and reserves	55,18%
change short term liabilities	0,00%

Annual accounts The company is obligated to publish its annual accounts

Last annual accounts 2011

Tendency Upward

Capital and reserves 2011 220.029

Total debt 2011 283.660

Current ratio 2011 2,36

Quick ratio 2011 1,38

Nett workingcapital 2011 290.029

Profitability To be followed

Solvency Positive

Liquidity Sufficient

Currency Euro

BALANCE

BOOKYEAR	2011	2010
End of bookyear	31-12-2011	31-12-2010

Stocks and work in progress	208.069	81.792
Accounts receivable	235.762
Liquid assets	59.858	60.000
Current assets	503.689	141.792
Total assets	503.689	141.792

Capital and reserves	220.029	141.792
Long term liabilities	70.000
Total short term debt	213.660
Total debt	283.660
Total Liabilities	503.689	141.792

History

Management	Per	28-02-2011	is Commissaris Dirk Pieter van Maren appointed.
	Per	28-02-2011	is Commissaris Simon Sytze Feenstra appointed.
	Per	28-02-2011	manager 51868539 Truffle Ventures B.V. appointed.

Company structure

• Truffle Ventures B.V. (51868539) MAASTRICHT

o EuroFibers B.V. (51869039) Maastricht

Management relation

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.85
UK Pound	1	Rs.85.25
Euro	1	Rs.71.72

INFORMATION DETAILS

Report Prepared by :

PRL

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	--

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%)

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.

Handelsregisternummer	51869039
Registered in	Chamber of commerce Limburg
First registration	04-03-2011
Act of foundation	28-02-2011
Date of constitution	01-02-2011
Continuation date	28-02-2011
Legal form	Besloten Vennootschap
Place of constitution	Maastricht
Issued capital	60.000
Paid up capital	60.000

Employees	Total: 1
Employees according to CoC	Chamber of commerce: 1
Bookyear	2013	2012	2011
Number	1	2	2
Change	-50,00%	0,00%