MIRA INFORM REPORT

REVISED REPORT

Report Date :

02.08.2014

IDENTIFICATION DETAILS

Name :	SHYAM CORPORATION PRIVATE LIMITED

Registered Office :	209, Behind Narol Court, Narol, Ahmedabad – 382405, Gujarat

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	30.04.2010

Com. Reg. No.:	04-060509

Capital Investment / Paid-up Capital :	Rs. 70.000 Millions

CIN No.: [Company Identification No.]	U17120GJ2010PTC060509

TAN No.: [Tax Deduction & Collection Account No.]	AHMS19021C

PAN No.: [Permanent Account No.]	AAOCS2975H

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturing and Processing of all types of Cotton, Clothes, Textiles etc.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (32)

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Maximum Credit Limit :	USD 720000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Exist

Comments :	Subject is an established company having moderate track record. Rating takes into consideration intensely competitive textile processing industry and increased in external borrowing over previous year. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company 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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

India

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

INDIAN ECONOMIC OVERVIEW

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years. China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies. A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating = BB-
Rating Explanation	Inadequate credit quality and high credit risk.
Date	July 03, 2014

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 31-03-2014.

INFORMATION DECLINED BY

Name :	Mr. Piyush
Designation :	Finance Head
Contact No.:	91-79-25712937
Date :	01.08.2014

LOCATIONS

Registered Office :	209, Behind Narol Court, Narol, Ahmedabad – 382405, Gujarat, India
Tel. No.:	91-79-25712937/ 25713602/ 25710657/ 25714705
Fax No.:	91-79-25710841
E-Mail :	clientconsultants@hotmail.com

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Ashokkumar Hakamchand Miglani

Designation :

Director

Address :

20, Pushpak Bunglows, Near Lad Society, Bhodak Dev, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

01.07.1954

Date of Appointment :

30.04.2010

PAN No.:

ABSPM6773F

DIN No.:

01660528

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	U17120GJ2007PTC051785	SHYAM TEX-FAB PRIVATE LIMITED	Director	20/09/2007	20/09/2007	31/07/2010	Active	NO
2	U17120GJ2010PTC060509	SHYAM CORPORATION PRIVATE LIMITED	Director	30/04/2010	30/04/2010	-	Active	NO

Name :

Mr. Satyapal Hakamchand Miglani

Designation :

Director

Address :

66, Nehru Park, B/H Balaji Complex VSP, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

11.06.1950

Date of Appointment :

30.04.2010

PAN No.:

ABQPM0780J

DIN No.:

01660583

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	U17120GJ2007PTC051785	SHYAM TEX-FAB PRIVATE LIMITED	Director	20/09/2007	20/09/2007	31/07/2010	Active	NO
2	U17120GJ2010PTC060509	SHYAM CORPORATION PRIVATE LIMITED	Director	30/04/2010	30/04/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Piyush
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Satyapal Hakamchand Miglani	2550000	36.43
Monica A. Miglani	500000	7.14
Ashokkumar Hakamchand Miglani	2800000	40.00
Renubala A. Miglani	1150000	16.43

Total	7000000	100.00

AS ON 10.02.2014

Names of Allottees		No. of Shares
Ashokkumar Hakamchand Miglani		700000
Satyapal Hakamchand Miglani		500000
Renubala A. Miglani		200000
Monica A. Miglani		100000

Total		1500000

AS ON 30.09.2013

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

Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Processing of all types of Cotton, Clothes, Textiles etc.

Products/ Services :

ITC Code No.

Product Descriptions

65050000

Cotton

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· State Bank of India

Medium Enterprises, Law Garden Branch, Zodiac, Avenue, Opposite Municipal Commissioner, Bunglow, Ahmedabad - 380006, Gujarat, India

· ICICI Bank Limited

Allahabad Bank

Axis Bank Limited

Bank of Baroda

Indian Overseas Bank

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Rupee term loans from banks	174.689	90.197

Total	174.689	90.197


Banking Relations :	--

Auditors :
Name :	Wadhawan and Company Chartered Accountants
Address :	703, Sarap Building, Opposite Navjivan Press, Navjivan, Ahmedabad, Gujarat, India
Tel. No.:	91-79-27542129/ 27546800
Income-tax PAN of auditor or auditor's firm :	AAAFW9683R

CAPITAL STRUCTURE

AFTER 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

10,000,000	Equity Shares	Rs. 10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

8,500,000	Equity Shares	Rs. 10/- each	Rs. 85.000 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

7,500,000	Equity Shares	Rs. 10/- each	Rs. 75.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

7,000,000	Equity Shares	Rs. 10/- each	Rs. 70.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	70.000	45.000	30.000
(b) Reserves & Surplus	109.440	98.206	99.854
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	179.440	143.206	129.854

(3) Non-Current Liabilities
(a) long-term borrowings	184.269	108.840	120.599
(b) Deferred tax liabilities (Net)	8.802	5.611	2.555
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	5.800	3.700	2.800
Total Non-current Liabilities (3)	198.871	118.151	125.954

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	64.102	56.103	78.342
(c) Other current liabilities	0.884	0.870	0.414
(d) Short-term provisions	3.736	3.710	3.327
Total Current Liabilities (4)	68.722	60.683	82.083

TOTAL	447.033	322.040	337.891

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	234.855	207.845	185.668
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	61.100	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	23.840	19.088	21.684
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	319.795	226.933	207.352

(2) Current assets
(a) Current investments	2.796	10.680	0.000
(b) Inventories	38.600	30.371	50.555
(c) Trade receivables	65.960	38.526	73.725
(d) Cash and cash equivalents	0.594	0.825	0.736
(e) Short-term loans and advances	19.088	14.705	5.523
(f) Other current assets	0.200	0.000	0.000
Total Current Assets	127.238	95.107	130.539

TOTAL	447.033	322.040	337.891

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from Operations		537.325	434.768
		Other Income		1.289	0.520
		TOTAL (A)	NA	538.614	435.288

Less	EXPENSES
		Cost of Materials Consumed		170.653	216.589
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		20.183	(24.711)
		Employees benefits expense		17.462	10.154
		Other expenses		298.664	201.383
		TOTAL (B)	NA	506.962	403.415

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		[Including Financial Expenses]	31.652	31.873

Less	FINANCIAL EXPENSES (D)			12.544	9.767

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		23.557	19.108	22.106

Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.033	6.340	4.410

	PROFIT BEFORE TAX (E-F) (G)		16.524	12.768	17.696

Less	TAX (H)		5.291	3.854	5.355

	PROFIT AFTER TAX (G-H) (I)		11.233	8.914	12.341

	Earnings Per Share (Rs.)		1.60	1.98	4.11

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	1.65	2.84

Net Profit Margin (PBT/Sales)	(%)	NA	2.38	4.07

Return on Total Assets (PBT/Total Assets}	(%)	4.28	3.96	5.24

Return on Investment (ROI) (PBT/Networth)		0.09	0.09	0.14

Debt Equity Ratio (Total Debt/Networth)		1.03	0.76	0.93

Current Ratio (Current Asset/Current Liability)		1.85	1.57	1.59

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	30.000	45.000	70.000
Reserves & Surplus	99.854	98.206	109.440
Net worth	129.854	143.206	179.440

long-term borrowings	120.599	108.840	184.269
Short term borrowings	0.000	0.000	0.000
Total borrowings	120.599	108.840	184.269
Debt/Equity ratio	0.929	0.760	1.027

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	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%	--
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	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

LITIGATION DETAILS

HIGH COURT OF GUJARAT

WRIPT PETITION (PIL) No. 115 of 2014

Status: PENDING ( Converted from : C/PILST/104/2014 ) CCIN No: 001026201400115

Last Listing Date: 25/07/2014

Coram: - HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA

HONOURABLE MR.JUSTICE J.B.PARDIWALA

S.NO.

Name of the Petitioner

Advocate On Record

KHWAJA GARIB NAWAZ JEEV BACHAO FOUNDATION

MR K R MISHRA for: Applicant(s) 1

S.NO.

Name of the Respondant

Advocate On Record

1
2

4
5
6
7

8
9
10
11
12

13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
69
70
71
72
73
74
75

76
77
78
79
80
81
82
83
84
85

PRINCIPAL SECRETARY

CHAIRMAN - GUJARAT POLLUTION CONTROL BOARD
DIRECTORATE OF INDUSTRIAL SAFETY AND HEALTH
PRESIDENT- VATVA INDUSTRIAL ASSOCIATION

M.G. TEXTILES MILL PVT LTD

CHAMARIA TEXTILES MILLS PVT LTD

MAYANK PROCESSORS- TEXTILES MILLS PVT LTD
VISHWAKARMA TEXTILES MILLS PVT LTD

RINKU TEXTILES MILLS PVT LTD

AKASH FASHION PVT LTD

TAMELINE TEXTILE EXPORT PVT LTD

CHIRIPAL INDUSTRIES -SHANTI PROCESSING
KUMAR COTTON MILLS PVT LTD

SHYAM CORPORATION PVT LTD

MUKESH INDUSTRIES PVT LTD

MAHALAXMI FABRICS PVT LTD

ROOPALI TEXTILE MILLS PVT LTD

GOPI SYNTHTICS MILLS PVT LTD

OMKAR TEXTILES MILLS PVT LTD

KANTI FASHION FAB PVT LTD

DELHI OVERSEAS PVT LTD

RANGA FABRICS MILLS PVT LTD

AMBICA GEOTEX PVT LTD

BALKRISHNA TEXTILES PVT LTD

BALHANUMAN FABRICS PVT LTD

SHAMBHU TEXTILES PVT LTD

RAM PRINT -SHYAM PRINT TEXTILE PROCESSORS
KIRAN TEXFAB PVT LTD

ARON DYES AND PRINTING PVT LTD

KARNAVATI POLYESTER PVT LTD

BALAJI PRINTS PVT LTD

JAGADAMBA TEXTILE PVT LTD

AARVEE DENIM AND EXPORTS PVT LTD

SINGHAL TEXTILE PROCESSORS

KOMAL TEXFAB PVT LTD

YORKS FABRICS PVT LTD

BMP TEXTILES MILLS PVT LTD

RAJA TEXTILES MILLS-GOPAL FABRICS

AAKAR TEXTIELS

ANAND SCREEN PRINTERS

WEIZMANN LTD

REAL HONEST TEXTILE

KTM - BALAJI TEXTILES MILLS PVT LTD

BANSAL FABRICS MILLS PVT LTD

ALOK TEXTILES MILLS PVT LTD

BHOOMI TEXTILE MILLS PVT LTD

SWAN ENERGY LTD

KEDAR COATS AND PRINT PVT LTD

KADAMWALA TEXTILE MILLS PVT LTD

SAIKRUPA FABRICS PVT LTD

MAHAK SYNTHETIC MILLS PVT LTD

ANJANI SYNTHETIC MILLS PVT LTD

RAM TEXFAB PVT LTD

DEVI SYJTHETIC MILLS PVT LTD

RONAK TEXTILE MILLS PVT LTD

JINDAL DENIM MILLS PVT LTD

AARVEE DENIM MILLS PVT LTD

UNITED POLYFAB PVT LTD

BALKRISHNA FABRICS PVT LTD

KOMAL PROCESS PVT LTD

RANGREJ PROCESS PVT LTD

KAJAL TEXTILES MILLS PVT LTD

CHIRIPAL INDUSTRIES POLY DIVISION

V.R. POLYFAB PVT LTD

PARIKH POLYFAB PVT LTD

PREM PROCESSOR

ARROW CLOTHING CO. PVT LTD

BAJAJ TEXTILE MILLS PVT LTD

ATM TEXTILE MILLS PVT LTD

SHIVACO INTERNATIONAL PVT LTD

GOPAL SYNTHETICS

JAYESH TEXFAB PVT LTD

MUKESHKUMAR SUDESHKUMAR

FASHION FABRICS - TEXTILE PROCESSING MILLS PVT LTD

AMBUJA TEXTILE MILLS PVT LTD

PRANSHANT FABRICS INDIA PVT LTD

KANKARIA TEXTILE INDUSTRIES

RANKAS TEXTILE PVT LTD

SHALINI - MINAXI TEXTILE PVT LTD

ANJANI FABRICS PVT LTD

ADVANCE PETROCHEMICALS PVT LTD

VINOD TEXTILE MILLS PVT LTD

GENERAL WORKERS UNION

GOVERNMENT PLEADER for :Opponent(s)  1
SERVED BY AFFIX.-(R) for :Opponent(s)  17 , 59 , 68 , 81
MR VAIBHAV A VYAS for :Opponent(s)  2
RULE UNSERVED for :Opponent(s)  21 , 28 - 29 , 31 , 71 , 76
MR MITUL K SHELAT for :Opponent(s)  4
RULE SERVED for :Opponent(s)  5 , 54 , 56 - 57 , 77 , 83
NANAVATI ASSOCIATES for :Opponent(s)  6 - 16 , 18 - 20 , 22 - 27 , 30 , 32 - 53 , 55 , 58 , 60 - 67 , 69 - 70 , 72 - 75 , 78 - 80 , 82 , 84
MR RD DAVE for :Opponent(s)  85

Presented On : 25/03/2014 Registered On : 28/03/2014

Bench Category : -- District : AHMEDABAD

Case Originated From: THROUGH ADVOCATE Listed : 6 times

Stage Name : ADMISSION (FRESH MATTERS)

Classification	DB - PIL - PIL - ANY OTHER / MISC. MATTERS	SJ - CIVIL APPLICATION - CODE OF CIVIL PROCEDURE, 1908 - DELETION OF PARTY
Act	CONSTITUTION OF INDIA	COMPANIES ACT, 1956

Office Details

S. No

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

25/03/2014

VAKALATNAMA

MR K R MISHRA ADVOCATE
for PETITIONER(s) 1

MR K R MISHRA(6312) for P:1

25/03/2014

MEMO OF APPEAL/PETITION/SUIT

MR K R MISHRA ADVOCATE
for PETITIONER(s) 1

100

MR K R MISHRA(6312), for P:1

17/04/2014

VAKALATNAMA

MR VAIBHAV A VYAS ADVOCATE
for RESPONDENT(s) 2

MR VAIBHAV A VYAS(2896) for R:2

22/04/2014

VAKALATNAMA

MR MITUL K SHELAT ADVOCATE
for RESPONDENT(s) 4

MR MITUL K SHELAT(2419) for R:4

31/07/2014

VP FILED IN MAIN MATTER

MR RD DAVE ADVOCATE
for RESPONDENT(s) 85

MR RD DAVE(264) for R:85

Applications

S. No.

CaseDetail

Status Name

Disposal Date

Action/Coram

CIVIL APPLICATION/8257/2014

DISPOSED

25/07/2014

CA DISPOSED OF

· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA

· HONOURABLE MR.JUSTICE J.B.PARDIWALA

Court Proceedings

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	03/04/2014	1	9	ADMISSION (FRESH MATTERS)	FIXED RULE / ADMIT	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
2	24/04/2014	1	210	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
3	26/06/2014	1	139	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
4	10/07/2014	1	127	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
5	11/07/2014	1	138	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
6	25/07/2014	1	14	URGENT ADMISSION (FRESH MATTERS)		· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA

Available Orders

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

Download

WRIPT PETITION (PIL)/115/2014

· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA

· HONOURABLE MR.JUSTICE J.B.PARDIWALA

03/04/2014

ORDER

Download

WRIPT PETITION (PIL)/115/2014

· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA

· HONOURABLE MR.JUSTICE J.B.PARDIWALA

11/07/2014

ORDER

Download

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10361426	03/02/2014 *	238,300,000.00	STATE BANK OF INDIA	MEDIUM ENTERPRISES, LAW GARDEN BRANCH, ZODIAC, AVENUE, OPP. MUNICIPAL COMMISSIONER, BUNGLOW, AHMEDABAD, GUJARAT - 380006, INDIA	C01187699
2	10256201	19/01/2011 *	114,100,000.00	STATE BANK OF INDIA	LAW GARDEN BRANCH, ZODIAC AVENUE, OPP. MUNICIPAL COMMISSIONER BUNGALOW, LAW GARDEN, AHMEDABAD, GUJARAT - 380006, INDIA	B05247440

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Loans and advances from directors	1.450	2.386
Loans and advances from others	0.876	4.467
Other loans and advances	7.254	11.790

Total	9.580	18.643

FIXED ASSETS:

· Land

Buildings

Factory building

Plant and equipment

Factory equipments

Other plant and equipment

Furniture and fixtures

Vehicles

Motor vehicles

Office equipment

Computer equipments

Other equipments

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 records 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 records 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. 60.85
UK Pound	1	Rs. 102.69
Euro	1	Rs. 81.46

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	SUM

Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		32

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.

MIRA INFORM REPORT

Unit