MIRA INFORM REPORT

MIRA INFORM REPORT

Report Date :

13.05.2013

IDENTIFICATION DETAILS

Name :	FIDELITY EXPORT PRIVATE LIMITED

Registered Office :	246-A Lane 13, Satyagrah Chhavani Society, Satelite, Ahmedabad – 380054, Gujarat

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	03.07.1996

Com. Reg. No.:	04-030122

Capital Investment / Paid-up Capital :	Rs. 0.100 Million

CIN No.: [Company Identification No.]	U50101GJ1996PTC030122

Legal Form :	Private Limited Liability Company

Line of Business :	Trading Activity.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING

STATUS

PROPOSED CREDIT LINE

11-25

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 :	Yet to commence business activity

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Even though the company was incorporated in the year 1996, it has not yet commence its commercial activity as per the latest financial. The company has recorded some pre-operative expenses. Our executive is unable to contact the subject company. Payment terms are unknown. The company can be considered for business dealings on a safe and secured trade terms and condition.

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

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.

LOCATIONS

Registered Office :	246-A Lane 13, Satyagrah Chhavani Society, Satelite, Ahmedabad – 380054, Gujarat, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	fidelity@meghmani.com

DIRECTORS

AS ON 28.09.2012

Name :

Mr. Jayantibhai Meghjibhai Patel

Designation :

Director

Address :

“Kruti” 1-18/359, Satyagrah Chhavani Society, Satellite, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

01.03.1952

Date of Appointment :

27.01.2000

DIN No.:

00027224

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	U24231GJ1993PLC019271	MEGHMANI CHEMICALS LIMITED	Director	26/12/1994	26/12/1994	-	Active	NO
2	L24110GJ1995PLC024052	MEGHMANI ORGANICS LIMITED	Managing director	01/04/2009	02/01/1995	-	Active	NO
3	U50101GJ1996PTC030122	FIDELITY EXPORT PRIVATE LIMITED	Director	27/01/2000	27/01/2000	-	Active	NO
4	U40105GJ2006PLC048974	MEGHMANI ENERGY LIMITED	Director	29/08/2006	29/08/2006	-	Active	NO
5	U24100GJ2007PLC051717	MEGHMANI FINECHEM LIMITED	Director	11/09/2007	11/09/2007	-	Active	NO
6	U24119GJ2008PTC055152	MEGHMANI LABCHEM PRIVATE LIMITED	Director	01/10/2008	01/10/2008	29/01/2010	Active	NO
7	U24100GJ2008PLC054564	MEGHMANI CHEMTECH LIMITED	Director	25/03/2011	25/03/2011	-	Active	NO
8	U24100GJ2012PTC068558	TRIENCE SPECIALITY CHEMICALS PRIVATE LIMITED	Director	11/01/2012	11/01/2012	-	Active	NO

Name :

Mr. Natwarlal Meghjibhai Patel

Designation :

Director

Address :

6B, Ashok Vatika No. 1, Opposite Ekta Farm, Bodakdev, Ahmedabad - 380058, Gujarat, India

Date of Birth/Age :

01.06.1953

Date of Appointment :

27.01.2000

DIN No.:

00027540

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	Company/ LLP Status	Defaulting status
1	U29199GJ1993PLC019013	MEGHMANI INDUSTRIES LIMITED	Managing director	01/11/2011	22/02/1993	Active	NO
2	U24231GJ1993PLC019271	MEGHMANI CHEMICALS LIMITED	Director	26/12/1994	26/12/1994	Active	NO
3	L24110GJ1995PLC024052	MEGHMANI ORGANICS LIMITED	Managing director	01/04/2009	02/01/1995	Active	NO
4	U24110GJ1999PLC036306	MEGHMANI DYES AND INTERMEDIATES LIMITED	Managing director	13/03/2008	21/07/1999	Active	NO
5	U50101GJ1996PTC030122	FIDELITY EXPORT PRIVATE LIMITED	Director	27/01/2000	27/01/2000	Active	NO
6	U52100GJ1965PLC001347	GSEC LIMITED	Director	18/03/2004	18/03/2004	Active	NO
7	U40105GJ2006PLC048974	MEGHMANI ENERGY LIMITED	Director	29/08/2006	29/08/2006	Active	NO
8	U24100GJ2007PLC051717	MEGHMANI FINECHEM LIMITED	Director	11/09/2007	11/09/2007	Active	NO
9	U24211DL1970NPL005200	CROP CARE FEDERATION OF INDIA	Director	25/07/2008	25/07/2008	Active	NO
10	U29224GJ1987PLC010044	JOHN ENERGY LIMITED	Director	30/09/2009	27/02/2009	Active	NO
11	U24100GJ2008PLC054564	MEGHMANI CHEMTECH LIMITED	Director	25/03/2011	25/03/2011	Active	NO

Name :

Mr. Ashishbhai Natawarlal Soparkar

Designation :

Managing director

Address :

1-13/246, Satyagrah Chhavani Society, Satellite, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

25.12.1952

Date of Appointment :

27.01.2000

DIN No.:

00027480

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	U24231GJ1993PLC019271	MEGHMANI CHEMICALS LIMITED	Director	26/12/1994	26/12/1994	-	Active	NO
2	L24110GJ1995PLC024052	MEGHMANI ORGANICS LIMITED	Managing director	01/04/2009	02/01/1995	-	Active	NO
3	U50101GJ1996PTC030122	FIDELITY EXPORT PRIVATE LIMITED	Managing director	27/01/2000	27/01/2000	-	Active	NO
4	U40105GJ2006PLC048974	MEGHMANI ENERGY LIMITED	Director	29/08/2006	29/08/2006	-	Active	NO
5	U92410GJ1973GAP002446	RAJPATH CLUB LIMITED	Additional director	15/02/2010	04/11/2006	30/09/2010	Active	NO
6	U24100GJ2007PLC051717	MEGHMANI FINECHEM LIMITED	Director	11/09/2007	11/09/2007	-	Active	NO
7	U24119GJ2008PTC055152	MEGHMANI LABCHEM PRIVATE LIMITED	Director	01/10/2008	01/10/2008	29/01/2010	Active	NO
8	U92410GJ1989GAP012192	KARNAVATI CLUB LIMITED	Director	29/12/2011	18/08/2010	-	Active	NO
9	U24100GJ2008PLC054564	MEGHMANI CHEMTECH LIMITED	Director	25/03/2011	25/03/2011	-	Active	NO

Name :

Mr. Rameshbhai Meghjibhai Patel

Designation :

Director

Address :

54, Shrinath Society, B/h Manekbaug, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

01.06.1956

Date of Appointment :

12.09.2001

DIN No.:

00027637

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	Company/ LLP Status	Defaulting status
1	U29199GJ1993PLC019013	MEGHMANI INDUSTRIES LIMITED	Managing director	01/11/2011	22/02/1993	Active	NO
2	L24110GJ1995PLC024052	MEGHMANI ORGANICS LIMITED	Whole-time director	01/04/2009	02/01/1995	Active	NO
3	U24110GJ1999PLC036306	MEGHMANI DYES AND INTERMEDIATES LIMITED	Managing director	13/03/2008	21/07/1999	Active	NO
4	U50101GJ1996PTC030122	FIDELITY EXPORT PRIVATE LIMITED	Director	12/09/2001	12/09/2001	Active	NO
5	U92410GJ1989GAP012192	KARNAVATI CLUB LIMITED	Director	29/12/2011	17/09/2002	Active	NO
6	U51909GJ2002PLC041575	VANGUARD OVERSEAS LIMITED	Director	21/03/2003	21/03/2003	Active	NO
7	U45209GJ2005NPL046417	VATVA INDUSTRIAL ESTATE INFRASTRUCTURE DEVELOPMETN LIMITED	Director	13/07/2005	13/07/2005	Active	NO
8	U40105GJ2006PLC048974	MEGHMANI ENERGY LIMITED	Director	29/08/2006	29/08/2006	Active	NO
9	U24100GJ2007PLC051717	MEGHMANI FINECHEM LIMITED	Director	11/09/2007	11/09/2007	Active	NO
10	U24100GJ2008PLC054564	MEGHMANI CHEMTECH LIMITED	Director	25/03/2011	25/03/2011	Active	NO

Name :

Mr. Anandbhai Ishwarbhai Patel

Designation :

Director

Address :

53, Shrinath Society, B/h Manekbaug, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

07.09.1962

Date of Appointment :

12.09.2001

DIN No.:

00027836

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	Company/ LLP Status	Defaulting status
1	L24110GJ1995PLC024052	MEGHMANI ORGANICS LIMITED	Whole-time director	01/04/2009	02/10/1995	Active	NO
2	U24110GJ1999PLC036306	MEGHMANI DYES AND INTERMEDIATES LIMITED	Director	21/07/1999	21/07/1999	Active	NO
3	U50101GJ1996PTC030122	FIDELITY EXPORT PRIVATE LIMITED	Director	12/09/2001	12/09/2001	Active	NO
4	U51909GJ2002PLC041575	VANGUARD OVERSEAS LIMITED	Director	21/03/2003	21/03/2003	Active	NO
5	U40105GJ2006PLC048974	MEGHMANI ENERGY LIMITED	Director	29/08/2006	29/08/2006	Active	NO
6	U93090GJ2007NPL050142	NOVEL SPENT ACID MANAGEMENT	Director	02/03/2007	02/03/2007	Active	NO
7	U24100GJ2007PLC051717	MEGHMANI FINECHEM LIMITED	Director	11/09/2007	11/09/2007	Active	NO
8	U24100GJ2008PLC054564	MEGHMANI CHEMTECH LIMITED	Director	25/03/2011	25/03/2011	Active	NO
9	U90000GJ2012PTC069814	CLUSTER ENVIRO PRIVATE LIMITED	Director	11/04/2012	11/04/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2012

Names of Shareholders		No. of Shares
Jayantibhai Meghjibhai Patel		2500
Nathbhai Meghjibhai Patel		2500
Ashishbhai Natawarlal Soparkar		2500
Anandbhai Ishwarbhai Patel		1000
Rameshbhai Meghjibhai Patel		1500

Total		10000

AS ON 28.09.2012

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00
Total		100.00

BUSINESS DETAILS

Line of Business :

Trading Activity.

GENERAL INFORMATION

No. of Employees :	Not Available

Bankers :	Not Available


Banking Relations :	--

Auditors :
Name :	Patel and Khandwala Chartered Accountants
Address :	204,"Akik", Opposite Lions Hall, Mithakali Six Roads, Ahmedabad – 380006, Gujarat, India
Mobile No.:	91-9998950215
Fax No.:	91-79-26466214
Income-tax PAN of auditor or auditor's firm :	AAEFP0241L

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount

100,000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(2.251)	(1.678)	(1.664)
NETWORTH		(2.151)	(1.578)	(1.564)
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		4.988	4.988	4.988
TOTAL BORROWING		4.988	4.988	4.988
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		2.837	3.410	3.424

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		0.119	0.119	0.119
DEFERRED TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.556	0.559
	Cash & Bank Balances	0.045	0.152	0.153
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.896	2.896	2.896
Total Current Assets		2.941	3.604	3.608
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.223	0.313	0.303
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.223	0.313	0.303
Net Current Assets		2.718	3.291	3.305

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		2.837	3.410	3.424

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.052	(0.004)	0.073
		TOTAL	0.052	(0.004)	(0.073)

Less	EXPENSES
		Other Expenses	0.618	0.010
		TOTAL	0.618	0.010	0.638

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.566)	(0.014)	(Including Financial Expenses)

Less	FINANCIAL EXPENSES		0.007	0.000

	PROFIT/ (LOSS) BEFORE TAX		(0.573)	(0.014)	(0.711)

Less	TAX		0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX		(0.573)	(0.014)	(0.711)

	Earnings/ (Loss) Per Share (Rs.)		(57.30)	(1.40)	(71.12)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(1101.92)	(350.00)	(973.97)

Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00

Return on Total Assets (PBT/Total Assets}	(%)	(19.48)	(0.39)	(19.71)

Return on Investment (ROI) (PBT/Networth)		0.27	0.01	0.45

Debt Equity Ratio (Total Debt/Networth)		(2.32)	(3.16)	(3.19)

Current Ratio (Current Asset/Current Liability)		13.19	11.51	11.91

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	No
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	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

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
From Directors	4.988	4.988
Total	4.988	4.988

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. 54.54
UK Pound	1	Rs. 84.19
Euro	1	Rs. 71.11

INFORMATION DETAILS

Report Prepared by :

BVA

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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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.

0.000

0.000

0.045

0.000

2.896

2.941

0.223

0.000

0.000

0.223

2.718

(1101.92)

0.00

0.27

13.19

Unit