MIRA INFORM REPORT

Report Date :

02.07.2013

IDENTIFICATION DETAILS

Name :	DOLAR GOLD BELTS AND FANS PRIVATE LIMITED (w.e.f. 24.07.2002)
Formerly Known As :	DOLAR FANS INDUSTRIES PRIVATE LIMITED
Registered Office :	3^rd Floor, 10, Sadhan Hari Mukherjee Road, Kolkata-700034, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	11.03.1988
Com. Reg. No.:	21-043949
Capital Investment / Paid-up Capital :	Rs. 1.813 Millions
CIN No.: [Company Identification No.]	U29303WB1988PTC043949
IEC No.:	0295025123
TAN No.: [Tax Deduction & Collection Account No.]	CALD00662E
PAN No.: [Permanent Account No.]	AABCD1212F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Supplier of Cotton Belts, Industrial Belts, Industrial Cotton Belts, Nylon Belts and Conveyor Belts, Pollution Control Equipments, Pollution Control Systems, etc.
No. of Employees :	65 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 116000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established and reputed company having satisfactory track record. The company has achieved a better growth in the sales turnover as well as the profitability during 2012. Financially the company is strong and healthy. Trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered normal for business dealings at usual 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

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

Name :	Mr. Ashish
Designation :	Secretary
Contact No.:	91-9433046489
Date :	24.06.2013

LOCATIONS

Registered / Corporate Office :	3^rd Floor, 10, Sadhan Hari Mukherjee Road, Kolkata-700034, West Bengal, India.
Tel. No.:	91-33-24681064 / 24581532 / 30978579
Mobile No.:	91-9433046489 (Mr. Ashish)
Fax No.:	91-33-24581532 / 24682612
E-Mail :	dolargold@gmail.com sandip39@vsnl.net
Website :	http://www.dolargold.net http://www.dolarindustrialbelts.com
Area :	450 sq. ft. (owned)
Factory 1 :	Pandit Sadguru, Sri Ram Pur, Hoogli, West Bengal, India
Area :	32000 sq ft
Location :	Owned
Factory 2 :	Off. THakur South 24, Parjanah District, West Bengal, India
Area :	48000 sq ft
Location :	Owned

DIRECTORS

As on : 29.09.2012

Name :

Mr. Attpurath Nambithan Viduran

Designation :

Managing Director

Address :

140 Jay Krishnan Paul Road, Behala, Kolkata – 700 038, West Bengal, India

Date of Birth/Age :

13.05.1945

Qualification :

M. Com, LLB

Date of Appointment :

11.03.1988

DIN No :

00025796

Name :

Mrs. Geeta Viduran

Designation :

Director

Address :

140 Jay Krishnan Paul Road, Behala, Kolkata – 700 038, West Bengal, India

Date of Birth/Age :

26.12.1956

Qualification :

B. Com / BA

Date of Appointment :

11.03.1988

DIN No :

00025846

Name :

Mr. Vivek Viduran

Designation :

Director

Address :

New Little Apartment, Flat 5, 140, Joy Krishna Pal Road, Kolkata, west Bengal, India

Date of Appointment :

08.12.2011

DIN No.:

02610967

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	U51909WB2009PLC135102	SKYLINE COMMODEAL LIMITED	Director	19-08-11	26-04-10	-	Active	NO
2	U15139WB2010PLC154857	SKYLINE CONSUMABLE PRODUCTS LIMITED	Director	22-11-10	22-11-10	12-02-13	Active	NO
3	U74900WB2011PLC157968	SKYLINE GOLD LIMITED	Director	25-01-11	25-01-11	12-02-13	Active	NO
4	U15490WB2011PLC158038	SKYLINE FORTUNE INTERNATIONAL LIMITED	Director	27-01-11	27-01-11	12-02-13	Active	NO
5	U18109WB2011PLC160745	SKYLINE FASHIONS LIMITED	Director	15-03-11	15-03-11	12-02-13	Active	NO
6	U29303WB1988PTC043949	DOLAR GOLD BELTS & FANS PRIVATE LIMITED	Additional director	08-12-11	08-12-11	-	Active	NO
7	U40108RJ2012PLC037551	SKYLINE ENERGY PROJECTS LIMITED	Director	09-01-12	09-01-12	25-04-13	Active	NO
8	U45400WB2012PLC184380	SKYLINE FORTUNE INFRACON LIMITED	Director	03-08-12	03-08-12	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ashish
Designation :	Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 29.09.2012

Names of Shareholders	No. of Shares
Viduran Nambiath	10823
Viduran Geeta	4275
Viduran Vivek	755
Vishwanthan K	830
Chatterjee Subod	50
Unnikrishnan NA	880
Iyer Rajagopal	50
Mukherjee Kishore Sandip	470
Total	18133

Equity Share Break up (Percentage of Total Equity)

As on : 29.09.2012

Category	Percentage
Directors or relatives of Directors	92.28
Other top fifty shareholders	7.72
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Supplier of Cotton Belts, Industrial Belts, Industrial Cotton Belts, Nylon Belts and Conveyor Belts, Pollution Control Equipments, Pollution Control Systems, etc.

Products :

PRODUCT DESCRIPTION	ITEM CODE
Industrial Beltings	42040004
Canvas Cloths	52092123

Exports :

Products :

· Cotton Belts

· Industrial Terms

Countries :

· UAE

· Middle East

Terms :

Selling :

Cash and Credit (30 days to 60 days)

Purchasing :

Cash and Credit (30 days to 60 days)

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

65 (Approximately)

Bankers :

The Federal Bank Limited, Behala Branch, 514 Diamonds Harbour Road, Kolkata-700034, West Bengal, India .

Facilities :

(Rs in Millions)

SECURED LOANS	31.03.2012	31.03.2011
Term Loan
From Banks – IPS Term Loan - FBI	0.000	0.077
Other Loans and Advances
Loans from Life Insurance Corporation	0.729	0.729
Cash Credit Secured from the FBL	(3.334)	3.741
Total	(2.605)	6.383

Auditors :
Name :	T.K. Mazumdar and Associates Chartered Accountants
Address :	121, Jodhpur Park, Flat D/3, 3^rd Floor, Kolkata – 700068, West Bengal, India
Tel. No.:	91-33-24725654
PAN No.:	AABCD1212F

CAPITAL STRUCTURE

As on : 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs. 100/- each	Rs. 2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18133	Equity Shares	Rs. 100/- each	Rs. 1.813 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.813	1.813
(b) Reserves & Surplus	27.237	21.650
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	29.050	23.463
(3) Non-Current Liabilities
(a) long-term borrowings	0.729	0.805
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.729	0.805
(4) Current Liabilities
(a) Short term borrowings	(3.334)	5.578
(b) Trade payables	2.128	0.578
(c) Other current liabilities	3.321	2.411
(d) Short-term provisions	1.033	0.507
Total Current Liabilities (4)	3.148	9.074
TOTAL	32.927	33.342
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	17.561	16.256
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	1.150	1.440
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.938	1.053
(e) Other Non-current assets	0.420	0.400
Total Non-Current Assets	20.069	19.149
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	4.560	5.226
(c) Trade receivables	7.510	8.175
(d) Cash and cash equivalents	0.495	0.527
(e) Short-term loans and advances	0.075	0.146
(f) Other current assets	0.218	0.019
Total Current Assets	12.858	14.093
TOTAL	32.927	33.242

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		1.813
2] Share Application Money		0.000
3] Reserves & Surplus		10.905
4] (Accumulated Losses)		0.000
NETWORTH		12.718
LOAN FUNDS
1] Secured Loans		6.401
2] Unsecured Loans		0.529
TOTAL BORROWING		6.930
DEFERRED TAX LIABILITIES		0.000
TOTAL		19.648
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.453
Capital work-in-progress		1.340
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.404
	Sundry Debtors	9.248
	Cash & Bank Balances	0.055
	Other Current Assets	0.000
	Loans & Advances	1.372
Total Current Assets		15.079
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.981
	Other Current Liabilities	2.090
	Provisions	0.153
Total Current Liabilities		4.224
Net Current Assets		10.855
MISCELLANEOUS EXPENSES		0.000
TOTAL		19.648

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	63.015	47.721
		Other Income	1.971	0.680
		TOTAL (A)	64.986	48.401	43.069
Less	EXPENSES
		Cost of Materials Consumed	37.861	28.645
		Purchase of Stock in Trade	2.194	1.518
		Changes in Inventories of Finished Goods	(0.571)	(0.600)
		Employees Benefits Expenses	8.659	7.029
		Other expenses	6.763	5.366
		TOTAL (B)	54.906	41.958	39.913
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		10.080	6.443
Less	FINANCIAL EXPENSES (D)		0.311	0.623
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		9.769	5.820
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.011	0.766
	PROFIT BEFORE TAX (E-F) (G)		8.758	5.054	3.156
Less	TAX (H)		2.827	1.628	0.995
	PROFIT AFTER TAX (G-H) (I)		5.931	3.426	2.161
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports Sales	0.823	0.975	1.903
	TOTAL EARNINGS		0.823	0.975	1.903
	Earnings Per Share (Rs.)		327.08	NA	NA

Particulars	31.03.2013
Sales Turnover (Approximately)	117.300 (Due to more order)

Expected Sales ( 2013-2014 ) : More than Rs. 130.000 Millions

The above information has been parted by Mr. Ashish (Secretary)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	9.13	7.05	5.02
Net Profit Margin (PBT/Sales)	(%)	13.90	10.59	NA
Return on Total Assets (PBT/Total Assets}	(%)	27.56	15.89	14.01
Return on Investment (ROI) (PBT/Networth)		0.30	0.22	0.25
Debt Equity Ratio (Total Debt /Networth)		(0.09)	0.27	0.54
Current Ratio (Current Asset/Current Liability)		4.08	1.55	3.57

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%	Yes
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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
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 to 4, Satyen Roy Road, Behala, Kolkata-700034, West Bengal, India the present address w.e.f. 25.05.2010.

FINANCIAL RESULTS :

During the year, the company achieved excellent results. Profit before tax increased to Rs. 8.758 Millions from previous year profit of Rs. 5.054 Millions. The profit for the reporting period has recorded an all time high growth.

The high inflation and the present truncated economy have seriously affected the growth trajectory of the country. Consequently Cement Plants and Biscuits Plants, the major consumers of the company’s products, have deferred their expansion plans. This is likely to harm the company’s growth in coming years due to poor demand. Besides, there is stiff competition from new manufacturers based in other States where they enjoy facilities like tax-holiday etc. The board of Directors is therefore in the process of initiating diversification plans to keep the tempo of the company’s growth. The Directors are keeping focused attention on development.

BANKERS CHARGES REPORT AS PER REGISTRY :

Corporate identity number of the company	U29303WB1988PTC043949
Name of the company	DOLAR GOLD BELTS AND FANS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	10, Sadhan Hari Mukherjee Road, Kolkata-700034, West Bengal, India. Email : dolargold@gmail.com
This form is for	Modification of charge
Charge identification number of the modified	80025823
Type of charge	· Book Debts · Movable Property (not being pledge) · Immovable Property
Particular of charge holder	The Federal Bank Limited, Behla Branch, 514 Diamonds Harbour Road, Kolkata-700034, West Bengal, India. Email : calh@federalbank.co.in
Nature of description of the instrument creating or modifying the charge	1. Composite Agreement 2. Agreement for Plant and Machinery 3. Letter in Lieu of Re-Deposit tittle Deed 4. Single counter Guarantee
Date of instrument Creating the charge	18.09.2012
Amount secured by the charge	Rs. 10.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest : Base Rate + 3% p.a with monthly rests Terms of Repayment : Lumpsum Margin : 25% on Stock and 50% on Book Debt Extent and Operation of the charge : The whole of the borrower(s)' present and future stock of raw materials such as stock in process of manufacture and all finished and manufactured goods and articles such as Stock of Raw materials, stock in process and finished goods for manufacturing Industrial belting products such as textile belts, cotton conveyor belts, and transmission belts in addition to products like rubber, conveyor belts, air side fabrics and brake linings etc and book debts Others : All Plant and machinery items like Ply Looms, hydraulic press of different make etc, both embedded and movable at the factory at Satghara, Village Rajyadh, PS Serampore, District Hooghly, and at all other places and premises owned by the company.
Short particulars of the property charged	Equitable Mortgage on the property situated at Pandit Satghara (near Satghara more), Village: Rajyadh, Mouza Pandit satghara, P.S. serampore, District. Hooghly, Dag No. 261, 258 and 259, Khatian No. 448, 289,
Date of latest modification prior to the present modification	08.07.2010
Particulars of the present modification	By this modification the overall limit has enhanced from Rs 7.860 Millions to Rs 10.000 Millions Cash Credit : Rs 8.000 Millions B.G : Rs 2.000 Millions

FIXED ASSETS

• Land
• Building
• Plant and Machinery
• Furniture and Fixture
• Motor Car
• Computer

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. 59.15
UK Pound	1	Rs. 90.05
Euro	1	Rs. 77.07

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		51

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.