MIRA INFORM REPORT

Report Date :

11.01.2014

IDENTIFICATION DETAILS

Name :	SIDDHI VINAYAK KNOTS AND PRINTS PRIVATE LIMITED
Registered Office :	A-26, Central Park, GIDC Pandesara, Surat – 394221, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	05.08.2008
Com. Reg. No.:	04-054684
Capital Investment / Paid-up Capital :	Rs.342.237 Millions
CIN No.: [Company Identification No.]	U17120GJ2008PTC054684
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of textile fabrics like sarees.
No. of Employees :	600 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 2100000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be slow but 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 – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities: BBB-
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	December 2012

Rating Agency Name	CARE
Rating	Short term bank facilities: A3
Rating Explanation	Moderate degree of safety. It carry higher credit risk.
Date	December 2012

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. Ravi Katan
Designation :	Finance department
Contact No.:	91-261-2894415
Date :	11.01.2014

LOCATIONS

Registered Office / Factory :	A-26, Central Park, GIDC Pandesara, Surat – 394221, Gujarat, India
Tel. No.:	91-261-2894415
Fax No.:	Not Available
E-Mail :	rbksurat@gmail.com mill@laxmipati.com
Location :	Owned
Sales Office :	4105, J. J. A/C Market Ring Road, Surat – 395002, Gujarat, India
Tel. No.:	91-261-2368733
Fax No.:	91-261-2368725

DIRECTORS

As on 30.09.2013

Name :

Mr. Govind Prasad Gopi Ram Sarawagi

Designation :

Whole-time director

Address :

4105, J. J. A/C Market Ring Road, Surat – 395002, Gujarat, India

Date of Birth/Age :

15.12.1948

Date of Appointment :

01.04.2013

DIN No.:

00005614

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	U21010GJ1999PTC035371	SHRI SIDDHI VINAYAK FASHIONS PRIVATE LIMITED	Director	02/02/1999	02/02/1999	23/07/2007	Active	NO
2	U25200GJ1998PTC054752	SHREE SIDDHIVINAYAK SAREE PRIVATE LIMITED	Director	10/02/2003	10/02/2003	15/03/2008	Amalgamated	NO
3	U01110GJ2005PTC047213	S.V. PLANTATIONS PRIVATE LIMITED	Director	07/12/2005	07/12/2005	-	Active	NO
4	U80301GJ2008NPL054071	TAPTI VALLEY EDUCATION FOUNDATION	Director	28/05/2008	28/05/2008	-	Active	NO
5	U17120GJ2008PTC054684	SIDDHI VINAYAK KNOTS AND PRINTS PRIVATE LIMITED	Whole-time director	01/04/2013	05/08/2008	-	Active	NO
6	U17120GJ2010PTC061761	SIDDHI VINAYAK POLYFAB PRIVATE LIMITED	Director	29/07/2010	29/07/2010	-	Active	NO
7	U51909WB1995PTC076043	ANMOL TRADELINKS PRIVATE LIMITED	Director	01/03/2011	01/03/2011	-	Active	NO
8	U52390WB2010PTC142409	HITECH MERCHANDISE PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
9	U51909WB2008PTC130251	GEORGETTE TRADECOM PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
10	U52390WB2010PTC142552	DIVYASHAKTI TRADING PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
11	U17120GJ2011PTC063687	SIDDHI VINAYAK WEAVING PRIVATE LIMITED	Director	22/02/2012	22/02/2012	-	Active	NO

Name :

Mr. Sanjay Kumar Govind Prasad Sarawagi

Designation :

Whole-time director

Address :

4105, J. J. A/C Market Ring Road, Surat – 395002, Gujarat, India

Date of Birth/Age :

01.07.1970

Date of Appointment :

01.04.2013

DIN No.:

00005468

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	U17116GJ1994PTC021614	SIDDHI VINAYAK SILK MILLS PRIVATE LIMITED	Director	23/03/1994	23/03/1994	-	Active	NO
2	U25200GJ1998PTC054752	SHREE SIDDHIVINAYAK SAREE PRIVATE LIMITED	Director	10/02/2003	10/02/2003	-	Amalgamated	NO
3	U17120GJ2008PTC054684	SIDDHI VINAYAK KNOTS AND PRINTS PRIVATE LIMITED	Whole-time director	01/04/2013	05/08/2008	-	Active	NO
4	U17120GJ2010PTC061761	SIDDHI VINAYAK POLYFAB PRIVATE LIMITED	Director	29/07/2010	29/07/2010	-	Active	NO
5	U17120GJ2011PTC063687	SIDDHI VINAYAK WEAVING PRIVATE LIMITED	Director	19/02/2013	17/01/2011	-	Active	NO
6	U52390WB2010PTC142382	STARMARK TRADING PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
7	U52390WB2010PTC141757	LANSDOWN DEALERS PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
8	U52100WB2007PTC117353	HI-CHOICE TRADING PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
9	U35111GJ2012PTC068863	SIVI SHIPPING PRIVATE LIMITED	Director	03/02/2012	03/02/2012	25/04/2012	Active	NO
10	U35111GJ2012PLC068922	SI. VI. SHIPPING CORPORATION LIMITED	Director	07/02/2012	07/02/2012	-	Active	NO
11	U17291GJ2014PTC078140	KRISHNAKALI COUTURE PRIVATE LIMITED	Director	03/01/2014	03/01/2014	-	Active	NO

Name :

Mr. Rakesh Kumar Govind Prasad Sarawagi

Designation :

Whole-time director

Address :

4105, J. J. A/C Market Ring Road, Surat – 395002, Gujarat, India

Date of Birth/Age :

20.10.1976

Date of Appointment :

01.04.2013

DIN No.:

00005665

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	U21010GJ1999PTC035371	SHRI SIDDHI VINAYAK FASHIONS PRIVATE LIMITED	Director	02/02/1999	02/02/1999	23/07/2007	Active	NO
2	U51909GJ2001PTC040048	LIFE LINE AGENCIES PRIVATE LIMITED	Director	25/06/2007	25/06/2007	-	Active	NO
3	U25200GJ1998PTC054752	SHREE SIDDHIVINAYAK SAREE PRIVATE LIMITED	Director	30/09/2008	14/03/2008	-	Amalgamated	NO
4	U17120GJ2008PTC054684	SIDDHI VINAYAK KNOTS AND PRINTS PRIVATE LIMITED	Whole-time director	01/04/2013	05/08/2008	-	Active	NO
5	U40100GJ2000PLC038012	NARMADA THERMAL POWER LIMITED	Director	20/11/2010	20/11/2010	-	Active	NO
6	U17120GJ2011PTC063687	SIDDHI VINAYAK WEAVING PRIVATE LIMITED	Director	17/01/2011	17/01/2011	-	Active	NO
7	U17120GJ2011PTC064155	NARMADA POLYESTER PRIVATE LIMITED	Director	23/02/2011	23/02/2011	-	Active	NO
8	U17120GJ2010PTC061761	SIDDHI VINAYAK POLYFAB PRIVATE LIMITED	Director	28/02/2011	28/02/2011	-	Active	NO
9	U51909WB1995PTC076043	ANMOL TRADELINKS PRIVATE LIMITED	Director	01/03/2011	01/03/2011	-	Active	NO
10	U52390WB2010PTC142409	HITECH MERCHANDISE PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
11	U51909WB2008PTC130251	GEORGETTE TRADECOM PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
12	U52390WB2010PTC142552	DIVYASHAKTI TRADING PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
13	U35111GJ2012PTC068863	SIVI SHIPPING PRIVATE LIMITED	Director	03/02/2012	03/02/2012	25/04/2012	Active	NO
14	U35111GJ2012PLC068922	SI. VI. SHIPPING CORPORATION LIMITED	Director	07/02/2012	07/02/2012	-	Active	NO
15	U80301GJ2008NPL054071	TAPTI VALLEY EDUCATION FOUNDATION	Director	06/09/2013	06/09/2013	-	Active	NO
16	U17291GJ2014PTC078140	KRISHNAKALI COUTURE PRIVATE LIMITED	Director	03/01/2014	03/01/2014	-	Active	NO

Name :

Mr. ManojKumar Govind Prasad Sarawagi

Designation :

Whole-time director

Address :

8/B, Rudravan Apartment, Parel Point, Athwalines, Surat – 395007, Gujarat, India

Date of Birth/Age :

21.05.1975

Date of Appointment :

01.04.2013

DIN No.:

00005447

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	U17116GJ1994PTC021614	SIDDHI VINAYAK SILK MILLS PRIVATE LIMITED	Director	23/03/1994	23/03/1994	-	Active	NO
2	U51909GJ2001PTC040048	LIFE LINE AGENCIES PRIVATE LIMITED	Director	22/08/2005	22/08/2005	-	Active	NO
3	U01110GJ2005PTC047213	S.V. PLANTATIONS PRIVATE LIMITED	Director	07/12/2005	07/12/2005	-	Active	NO
4	U21010GJ1999PTC035371	SHRI SIDDHI VINAYAK FASHIONS PRIVATE LIMITED	Director	07/04/2007	07/04/2007	-	Active	NO
5	U17120GJ2008PTC054684	SIDDHI VINAYAK KNOTS AND PRINTS PRIVATE LIMITED	Whole-time director	01/04/2013	05/05/2009	-	Active	NO
6	U52390WB2010PTC142382	STARMARK TRADING PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
7	U52390WB2010PTC141757	LANSDOWN DEALERS PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
8	U52100WB2007PTC117353	HI-CHOICE TRADING PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
9	U35111GJ2012PTC068863	SIVI SHIPPING PRIVATE LIMITED	Director	03/02/2012	03/02/2012	25/04/2012	Active	NO
10	U35111GJ2012PLC068922	SI. VI. SHIPPING CORPORATION LIMITED	Director	07/02/2012	07/02/2012	-	Active	NO
11	U17120GJ2011PTC063687	SIDDHI VINAYAK WEAVING PRIVATE LIMITED	Director	19/02/2013	19/02/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ravi Katan
Designation :	Finance department
Name :	Mr. Ginraj Parwal
Designation :	Secretary
Address :	C-301, Suryadarshan Apartment, Near Bulka Bhawan School, Anand Mahal Raod, Adajan, Suraj – 395009, Gujarat, India
Date of Birth/Age :	20.02.1987
Date of Appointment :	15.03.2012
Name :	Mr. Ranjit Kejriwal
Designation :	Company Secretary
Address :	G/3/A, Empire Estate Building, Ring Road, Surat – 395002, Gujarat, India
Tel No.:	91-261-2331123
Mobile No.:	91-9327923119
Fax No.:	91-261-2355984/2222607

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Govind Prasad Sarawagi	23056400
Sanjay Kumar Sarawagi	8000
Rakesh Kumar Sarawagi	4298
Sdhhi Vinayak Silk Mills Private Limited, India	5000500
Shri Sdhhi Vinayak Fashions Private Limited, India	5000500
Sujatadevi Sarawagi	1142200
Govind Prasad Sanjay Kumar (HUF)	1000
Govind Prasad Manoj Kumar (HUF)	1000
Govind Prasad Rakesh Kumar (HUF)	1000
Parth Sarawagi Education Trust	1000
Samarth Sarawagi Education Trust	1000
Tanya Sarawagi Marriage Trust	1000
Mansi Sarawagi Marriage Trust	1000
Teshima Sarawagi Marriage Trust	1000
Anmol Trade Link Private Limited, India	1000
Manoj Kumar Sarawagi	500
Kantidevi Sarawagi	500
Sarladevi Sarawagi	500
Sandhyadevi Sarawagi	500
Samarth Sarawagi Marriage Trust	100
Tanya Sarawagi Education Trust	100
Mansi Sarawagi Education Trust	100
Parth Sarawagi Marriage Trust	100
Teshima Sarawagi Education Trust	100
Subhashchandra Tibrewal	100
Subhashchandra Tibrewal (HUF)	100
Dropati Devi Agarwal	100
Banwarilal Agarwal	1
Mayank Tibrewel	1
Total	34223700

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Bodies corporate	29.23
Directors or relatives of Directors	70.75
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of textile fabrics like sarees.
Imports :
Products :	Machinery
Countries :	· Japan · China · Korea
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Dye star, Japan

Customers :

Wholesalers and retailers

· Rohit Kumar and Company, Gujarat,

No. of Employees :

600 (Approximately)

Bankers :

Bank of Baroda, Textile Market, Ring Road,, Surat - 395002, Gujarat, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Rupee term loans from banks	289.386	319.051
Short-term borrowings
Working capital loans from banks	510.764	272.511
Other loans and advances, others	139.981	52.374
Total	940.131	643.936

Banking Relations :	--
Auditors :
Name :	S K Kabra and Company Chartered Accountants
Address :	1006, Rathi Palace Kamela Darwajaring Road, Surat – 395002, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAJFS6674D

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
35000000	Equity Shares	Rs.10/- each	Rs. 350.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
34223700	Equity Shares	Rs.10/- each	Rs. 342.237 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	342.237	342.237	342.237
(b) Reserves & Surplus	186.664	126.093	75.007
(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)	528.901	468.330	417.244
(3) Non-Current Liabilities
(a) long-term borrowings	446.396	707.377	324.519
(b) Deferred tax liabilities (Net)	52.476	45.394	40.447
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	498.872	752.771	364.966
(4) Current Liabilities
(a) Short term borrowings	650.745	324.885	395.701
(b) Trade payables	227.301	163.046	175.555
(c) Other current liabilities	73.606	75.486	269.954
(d) Short-term provisions	8.254	3.101	0.050
Total Current Liabilities (4)	959.906	566.518	841.260
TOTAL	1984.679	1787.619	1623.470
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	781.793	639.698	639.319
(ii) Intangible Assets	74.948	87.165	99.024
(iii) Capital work-in-progress	10.496	62.301	13.456
(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	8.381	37.511	33.439
(e) Other Non-current assets	11.990	11.484	24.761
Total Non-Current Assets	887.608	838.159	809.999
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	600.958	621.229	549.877
(c) Trade receivables	452.149	300.211	240.799
(d) Cash and cash equivalents	35.897	15.010	4.205
(e) Short-term loans and advances	6.428	3.369	1.727
(f) Other current assets	4.639	9.641	16.863
Total Current Assets	1100.071	949.460	813.471
TOTAL	1987.679	1787.619	1623.470

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	2654.046	2165.689	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	2482.570	2030.095	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		171.476	135.594
Less/ Add	DEPRECIATION/ AMORTISATION		62.626	52.622
	PROFI BEFORE DEFERRED TAX AND INCOME TAX		108.850	82.972	NA
Less	EXTRA-ORDINARY LOSS		5.597	0.177
Less	PROVISION FOR DEFERRED TAX		7.082	4.948
	PROFIT BEFORE TAX		96.171	77.847
Less	TAX		35.600	26.762
	PROFIT AFTER TAX		60.571	51.085	45.709
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		60.571	75.007	NA
	BALANCE CARRIED TO THE B/S		60.571	126.093	NA
	Earnings Per Share (Rs.)		1.77	NA	NA

Expected Sales (2013-2014) : Rs.3000.000 Millions

The above information has been parted by Mr. Ravi Katan (Finance department)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.28	2.36	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.86	4.51	NA
Return on Investment (ROI) (PBT/Networth)		0.18	0.17	NA
Debt Equity Ratio (Total Debt /Networth)		2.07	2.20	1.73
Current Ratio (Current Asset/Current Liability)		1.15	1.68	0.97

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 two years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
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	Yes

BUSINESS PERFORMANCE REVIEW:

During the year, the Company delivered a remarkably impressive performance across several operating and financial indicators and achieved a turnover of Rs. 2651.500 Millions. Profit of the company recorded a quite good figure of Rs. 103.200 Millions. The encouraging trend of domestic order inflow continues during the current year. The Company continues to maintain its reputation of being one of the leading suppliers of premium quality dresses and sarees in domestic market.

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Loans repayable on demand from others	36.390	33.613
Loans and advances from directors	9.670	41.594
Loans and advances from others	110.950	313.119
Total	157.010	388.326

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10092637	29/07/2013 *	1,089,200,000.00	BANK OF BARODA	SURAT TEXTILE MARKET BRANCH, RING ROAD, SURAT, GUJARAT - 395002, INDIA	B81339517
2	10033195	18/11/2013 *	1,089,200,000.00	BANK OF BARODA	TEXTILE MARKET, RING ROAD, SURAT, GUJARAT - 395002, INDIA	B90813056

* Date of charge modification

TRADE REFERENCE

· Dye star, Japan

· Rohit Kumar and Company, Gujarat

FIXED ASSETS

Tangible assets

·

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

Intangible assets

·

· Brands and trade marks

· Computer software

· Designs

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.61.94
UK Pound	1	Rs.102.06
Euro	1	Rs.84.31

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.