MIRA INFORM REPORT

Report Date :

29.07.2013

IDENTIFICATION DETAILS

Name :	OSWAL FAB KNITS PRIVATE LIMITED
Registered Office :	G T Road (West), Opposite Balwant sales Corporation, Ludhiana – 141003, Punjab
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	13.12.2007
Com. Reg. No.:	16-031518
Capital Investment / Paid-up Capital :	Rs.1.500 Millions
CIN No.: [Company Identification No.]	U18101PB2007PTC031518
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of yarn and fabrics.
No. of Employees :	25 (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

Maximum Credit Limit :	USD 130000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated in 2007, it started its activity from 2012. Mr. Jaspal Jindal the chartered accountant confirmed the sales turnover for 2012-2013 which is not verified. In its first year of business company has achieved sizeable turnover. However, business is active. Payment terms are unknown. The company can be considered for business dealings with great 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. Jaspal Jindal
Designation :	Chartered Accountant
Contact No.:	91-161-4699981
Date :	24.07.2013

LOCATIONS

Registered Office :	G T Road (West), Opposite Balwant sales Corporation, Ludhiana – 141003, Punjab, India
Tel. No.:	91-161-4699981
Fax No.:	Not Available
E-Mail :	Jaspal.jindal@oswalindia.net Bkg.majestic@gmail.com
Location :	Owned
Factory :	Godown-Village Bhamian Kalan, Tajpur, Ludhiana, Punjab, India

DIRECTORS

As on 29.09.2012

Name :

Mr. Vikas Jain

Designation :

Director

Address :

25-G, Sarabha Nagar, Ludhiana – 141001, Punjab, India

Date of Appointment :

13.12.2007

DIN No.:

01226345

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	U18101PB1991PTC011370	OSWAL CLOTHING PRIVATE LIMITED	Director	28/02/1995	28/02/1995	01/11/2008	Active	NO
2	U18101PB1997PTC020004	OSWAL FASHION PRIVATE LIMITED	Director	27/05/1997	27/05/1997	-	Active	NO
3	U18109PB2007PTC030882	OSWAL APPARELS PRIVATE LIMITED	Director	09/02/2007	09/02/2007	-	Active	NO
4	U18101PB2007PTC031518	OSWAL FAB KNITS PRIVATE LIMITED	Director	13/12/2007	13/12/2007	-	Active	NO
5	U18101PB2008PTC031785	OSWAL TRENDS PRIVATE LIMITED	Director	25/03/2008	25/03/2008	-	Active	NO
6	U60200PB2008PTC032336	TRANS-EX CARGO PRIVATE LIMITED	Director	08/10/2008	08/10/2008	01/04/2009	Active	NO
7	U17290PB2010PTC033739	OSWAL POLYCOT (INDIA) PRIVATE LIMITED	Director	25/03/2010	25/03/2010	-	Active	NO
8	U51311PB2009PTC033026	JMD CLOTH AND GARMENTS PRIVATE LIMITED	Director	01/10/2012	01/10/2012	-	Active	NO
9	U74140PB2008PTC036576	GAYATRI INVESTMENT CONSULTANTS PRIVATE LIMITED	Director	01/10/2012	01/10/2012	-	Active	NO
10	U51109PB2007PTC036688	NAVRATAN DISTRIBUTORS PRIVATE LIMITED	Director	01/10/2012	01/10/2012	-	Active	NO
11	U51909PB2007PTC036689	FANTASTIC COMMERCIAL PRIVATE LIMITED	Director	01/10/2012	01/10/2012	-	Active	NO

Name :

Mr. Rajesh Kalia

Designation :

Director

Address :

B-34/5375, Guru Nagar, Haibowal Kalan, Ludhiana – 141001, Punjab, India

Date of Appointment :

13.12.2007

DIN No.:

01911842

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	U18101PB2007PTC031518	OSWAL FAB KNITS PRIVATE LIMITED	Director	13/12/2007	13/12/2007	-	Active	NO
2	U74140PB2008PTC036576	GAYATRI INVESTMENT CONSULTANTS PRIVATE LIMITED	Director	23/04/2010	23/04/2010	-	Active	NO
3	U51909PB2007PTC036689	FANTASTIC COMMERCIAL PRIVATE LIMITED	Director	23/08/2010	23/08/2010	-	Active	NO
4	U17299PB2011PTC035804	CARFU KNITS PRIVATE LIMITED	Director	29/12/2011	29/12/2011	25/03/2012	Active	NO
5	U51311PB2009PTC033026	JMD CLOTH AND GARMENTS PRIVATE LIMITED	Director	06/01/2012	06/01/2012	-	Active	NO
6	U51109PB2007PTC036688	NAVRATAN DISTRIBUTORS PRIVATE LIMITED	Director	30/04/2012	30/04/2012	-	Active	NO
7	U18101PB2008PTC031785	OSWAL TRENDS PRIVATE LIMITED	Director	29/09/2012	31/08/2012	-	Active	NO
8	U17290PB2010PTC033739	OSWAL POLYCOT (INDIA) PRIVATE LIMITED	Director	29/09/2012	31/08/2012	-	Active	NO
9	U18101PB1997PTC020004	OSWAL FASHION PRIVATE LIMITED	Director	29/09/2012	31/08/2012	-	Active	NO
10	U18109PB2007PTC030882	OSWAL APPARELS PRIVATE LIMITED	Director	29/09/2012	31/08/2012	-	Active	NO

Name :

Mr. Rajnish Kumar

Designation :

Director

Address :

B-111-501, Purana Bazar, Ludhiana – 141008, Punjab, India

Date of Appointment :

29.09.2012

DIN No.:

03273846

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	U51311PB2009PTC033026	JMD CLOTH AND GARMENTS PRIVATE LIMITED	Director	06/09/2010	06/09/2010	-	Active	NO
2	U51109PB2007PTC036688	NAVRATAN DISTRIBUTORS PRIVATE LIMITED	Director	01/11/2010	01/11/2010	-	Active	NO
3	U51909PB2007PTC036689	FANTASTIC COMMERCIAL PRIVATE LIMITED	Director	30/04/2012	30/04/2012	-	Active	NO
4	U74140PB2008PTC036576	GAYATRI INVESTMENT CONSULTANTS PRIVATE LIMITED	Director	30/04/2012	30/04/2012	-	Active	NO
5	U17290PB2010PTC033739	OSWAL POLYCOT (INDIA) PRIVATE LIMITED	Director	29/09/2012	31/08/2012	-	Active	NO
6	U18101PB2007PTC031518	OSWAL FAB KNITS PRIVATE LIMITED	Director	29/09/2012	31/08/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Jaspal Jindal
Designation :	Chartered Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Vikas Jain	33000
Tina Jain	16500
Rajesh Kalia	100
Jaspal Jindal	100
Ramesh Verma	100
Deepak Verma	100
Sukhwinder	100
Gayatri Investments Consultants Private Limited, India	50000
JMD Cloth and Garments Private Limited, India	50000
Total	150000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Bodies corporate	66.73
Directors or relatives of Directors	33.00
Other top fifty shareholders	0.27
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of yarn and fabrics.
Products :	Hosiery Goods and Knitted Cloth
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :	OEMs
No. of Employees :	25 (Approximately)
Bankers :	Punjab National Bank, Feroze Gandhi Market, Ludhiana – 141001, Punjab, India Tel No.: 91-161-2403813 HDFC Bank Limited

Banking Relations :	--
Auditors :
Name :	Ashish Agarwal and Company Chartered Accountants
Address :	400/1, Rani Jhansi Road, Civil Lines, Ludhiana – 141001, Punjab, India
Tel. No.:	91-161-2420692/2420797
Fax No.:	91-161-2421704
E-Mail :	Ashishco@hotmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAHFA3111H
Associates/Subsidiaries :	Oswal Apparels, Ludhiana, Punjab, India

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs.10/- each	Rs. 7.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.10/- each	Rs. 1.500 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	1.500	1.500
(b) Reserves & Surplus	31.055	31.095
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.200
Total Shareholders’ Funds (1) + (2)	32.555	32.795
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0000	0.000
(c) Other long term liabilities	0.070	0.070
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.070	0.070
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	0.000	0.000
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	0.000	0.000
TOTAL	32.625	32.865
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.112	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	1.374	27.274
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	4.486	27.274
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.00	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	26.906	2.699
(e) Short-term loans and advances	1.157	2.815
(f) Other current assets	0.076	0.077
Total Current Assets	28.139	5.591
TOTAL	32.625	32.865

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	0.000	0.000
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	0.040	0.036
	PROFIT / (LOSS) BEFORE TAX		(0.040)	(0.036)
Less	TAX		0.000	0.000
	PROFIT / (LOSS) AFTER TAX		(0.040)	(0.036)
	Earnings / (Loss) Per Share (Rs.)		(0.27)	NA

Particulars	31.03.2013
Sales Turnover (Approximately)	250.000

The above information has been parted by Mr. Jaspal Jindal (Chartered Accountant)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011
PAT / Total Income	(%)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.12	0.11
Return on Investment (ROI) (PBT/Networth)		0.00	0.00
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00
Current Ratio (Current Asset/Current Liability)		0.00	0.00

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 year	No
12]	Profitability for last two 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	No
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	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

OPERATIONS

During the financial year total income of the Company is NIL and the Company has incurred a net loss after tax of Rs. 0.040 Million this year.

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.58.91
UK Pound	1	Rs.90.68
Euro	1	Rs.78.22

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	KVT

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.