MIRA INFORM REPORT

Report Date :

09.07.2013

IDENTIFICATION DETAILS

Name :	RAJEN COM TRADING COMPANY
Registered Office :	A – 405, Fairdeal House, Near St. Xavier Ladies Hostel, Navrangpura, Ahmedabad – 380009, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	17.12.2011
Com. Reg. No.:	24073405893
Capital Investment / Paid-up Capital :	Rs. (2.366) Millions
PAN No.:	ABUPM7604B
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader of Fabric, Color Dye and Chemicals.
No. of Employees :	1 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a proprietary concern incorporated as on December 2011. It is having a moderate track record. The concern has incurred losses in its first year of business operations. However, trade relations are fair. Business is active. Payment terms are reported as slow. The concern can be considered for business dealings with some caution.

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. Rajendrakumar Modi
Designation :	Proprietor
Contact No.:	91-9274993829
Date :	05.07.2013

LOCATIONS

Registered Office :	A – 405, Fairdeal House, Near St. Xavier Ladies Hostel, Navrangpura, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-26859239
Mobile No.:	91-9274993829 (Mr. Rajendrakumar Modi)
Fax No.:	Not Available
E-Mail :	pratikimpex@yahoo.com
Location :	Owned

SOLE PROPRIETOR

Name :	Mr. Rajendrakumar Modi
Designation :	Proprietor
Address :	E-72, Galaxy Appartment, Near Hotel Grand Bhagwati, Bodakdev, Ahmedabad - 380054, Gujarat, India
Date of Birth/Age :	63 Years
Qualification :	HSC

BUSINESS DETAILS

Line of Business :	Trader of Fabric, Color Dye and Chemicals.
Terms :
Selling :	Credit (60 Days)
Purchasing :	Credit (60 Days)

GENERAL INFORMATION

Suppliers :

Name :	Raj Chem
Address :	A-614, Atma House, Opposite RBI Ashram Road, Ahmedabad – 380009, Gujarat, India

Name :	Sunflora Industries Private Limited
Address :	312, Sigma Icon, Near Shyamal Cross Road, Ahmedabad – 380015, Gujarat, India

Customers :

Wholesalers

Name :	Hind Prakash International Private Limited
Address :	201, Hind Prakash House, Plot No, 10/6, Vatva, GIDC Ahmedabad – 382445, Gujarat, India
Contact No.:	91-79-39827000

Name :	Hind Prakash Trading Private Limited
Address :	201, Hind Prakash House, Plot No, 10/6, Vatva, GIDC Ahmedabad – 382445, Gujarat, India
Contact No.:	91-79-39827000

No. of Employees :

1 (Approximately)

Bankers :

Bank of India, Bhadra Main Branch, Ahmedabad, Gujarat, India

Banking Relations :	--
Auditors :
Name :	RRS and Associates Chartered Accountants
Address :	211, Kamal Complex, Near Stadium Circle, C.G. Road, Navrangpura, Ahmedabad – 380009, Gujarat, India
Sister Concern :	United Overseas Company, India

CAPITAL STRUCTURE

As on 31.03.2012

Capital Investment :
Owned :	Rs. (2.366) Millions
Borrowed :	--
Total :	Rs. (2.366) Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012
SHAREHOLDERS FUNDS
1] Share Capital		(2.366)
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		(2.366)
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		(2.366)
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	86.077
	Cash & Bank Balances	0.058
	Other Current Assets	0.010
	Loans & Advances	102.034
Total Current Assets		188.179
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	190.521
	Other Current Liabilities	0.024
	Provisions	0.000
Total Current Liabilities		190.545
Net Current Assets		(2.366)
MISCELLANEOUS EXPENSES		0.000
TOTAL		(2.366)

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012
	SALES
		Income	286.404
		Other Income	0.000
		TOTAL	286.404
Less	EXPENSES
		Purchases	288.763
		Cartage Expenses	0.064
		Loading and uploading charges	0.012
		Bank Charges	0.001
		Bonus Expenses	0.002
		Legal and professional Expenses	0.010
		Printing and stationery Expenses	0.004
		Computer Repairs and Maintenance	0.003
		Salary Expenses	0.007
		Vat Penalty Expenses	0.001
		Audit Fees	0.017
		TOTAL	288.884
	PROFIT BEFORE TAX		(2.480)
Less	TAX		0.000
	PROFIT AFTER TAX		(2.480)

KEY RATIOS

PARTICULARS	31.03.2012
PAT / Total Income	(0.86)
Net Profit Margin (PBT/Sales)	(0.86)
Return on Total Assets (PBT/Total Assets}	(1.32)
Return on Investment (ROI) (PBT/Networth)	1.04
Debt Equity Ratio (Total Debt /Networth)	0.00
Current Ratio (Current Asset/Current Liability)	0.99

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 one years	Yes
12]	Profitability for last one 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	Yes
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	No
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
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

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. 61.34
UK Pound	1	Rs. 90.89
Euro	1	Rs. 78.27

INFORMATION DETAILS

Report Prepared by :

VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	NO
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.