1. Summary Information

		Country	India
Company Name	Shakti Cords Private Limited	Principal Name 1	Mr. Shyam Prakash Fatehpuria
Status	Moderate	Principal Name 2	Mr. Divya Fatehpuria
		Registration #	18-051243
Street Address	Shed No CS-17 and 18, SIDCO Industrial Estate, Kappalur, Madurai – 625 008, Tamilnadu, India
Established Date	18.07.2003	SIC Code	--
Telephone#	91-452-2651480	Business Style 1	Manufacturer
Fax #	91-452-2529070	Business Style 2	Supplier
Homepage	--	Product Name 1	Cords
# of employees	Not Divulged	Product Name 2	Braided Rope
Paid up capital	Rs.4,000,000/-	Product Name 3
Shareholders	Directors or Relatives of Directors=100%	Banking	Canara Bank
Public Limited Corp.	No	Business Period	11 (Years)
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B (34)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	34,175,000	Current Liabilities	0,000
Inventories	37,263,000	Long-term Liabilities	31,406,000
Fixed Assets	35,630,000	Other Liabilities	45,000
Deferred Assets	0,000	Total Liabilities	31,451,000
Invest& other Assets	0,000	Retained Earnings	71,617,000
		Net Worth	75,617,000
Total Assets	107,068,000	Total Liab. & Equity	107,068,000
Total Assets (Previous Year)	79,706,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	NA	Net Profit	21,509,000
Sales(Previous yr)	NA	Net Profit(Prev.yr)	14,136,000

MIRA INFORM REPORT

Report Date :

21.01.2014

IDENTIFICATION DETAILS

Name :	SHAKTI CORDS PRIVATE LIMITED
Registered Office :	Shed No CS-17 and 18, SIDCO Industrial Estate, Kappalur, Madurai – 625 008, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.07.2003
Com. Reg. No.:	18-051243
Capital Investment / Paid-up Capital :	Rs.4.000 Millions
CIN No.: [Company Identification No.]	U17297TN2003PTC051243
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Supplier and Exporter of Cords, Braided Rope, Braided Tape, Braided Cord.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 302000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The management has failed to file its financial with government of department for the year 2012 and 2013. As per previous financial of 2011, profitability of the company seems to be fair. However, trade relations are fair. Business is active. Payment terms are unknown. The company can be considered for business dealing 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 – 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.

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 DENIED BY

Name :	Mr. Parthiban
Designation :	Sales Manager
Contact No.:	91-452-2651480
Date :	18.01.2014

LOCATIONS

Registered Office/ Factory :	Shed No CS-17 and 18, SIDCO Industrial Estate, Kappalur, Madurai – 625 008, Tamilnadu, India
Tel. No.:	91 452 2651480 / 2534568
Fax No.:	91 452 2529070
E-Mail :	sales@indtextile.com anp.mdu@gmail.com office@indextile.com

DIRECTORS

AS ON 29.09.2011

Name :

Mr. Shyam Prakash Fatehpuria

Designation :

Director

Address :

Plot No.496, Vinayagar Nagar, KK Nagar, Madurai – 625 020, Tamilnadu, India

Date of Birth/Age :

09.02.1962

Date of Appointment :

18.07.2003

DIN No.:

01898733

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	U28992RJ1980PLC002076	SUPREME CYLINDERS LIMITED	Director	31/12/1987	31/12/1987	Active	NO
2	U17111TN1996PTC037095	G D TEXTILES (MADURAI) PRIVATE LIMITED	Director	09/12/1996	09/12/1996	Active	NO
3	U17297TN2003PTC051243	SHAKTI CORDS PRIVATE LIMITED	Director	18/07/2003	18/07/2003	Active	NO

Name :

Mr. Divya Fatehpuria

Designation :

Director

Address :

Plot No.496, Vinayagar Nagar, KK Nagar, Madurai – 625 020, Tamilnadu, India

Date of Birth/Age :

11.01.1961

Date of Appointment :

21.01.2010

DIN No.:

01898793

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	U17111TN1996PTC037095	G D TEXTILES (MADURAI) PRIVATE LIMITED	Director	19/01/2010	09/12/1996	Active	NO
2	U17297TN2003PTC051243	SHAKTI CORDS PRIVATE LIMITED	Director	21/01/2010	21/01/2010	Active	NO

KEY EXECUTIVES

Name :	Mr. Parthiban
Designation :	Sales Manager

MAJOR SHAREHOLDERS

AS ON 29.09.2011

Names of Shareholders	No. of Shares
Shyam Prakash Fatehpuria	26500
Divya Fatehpuria	13400
Gowri Fatehpuria	100
Total	40000

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Supplier and Exporter of Cords, Braided Rope, Braided Tape, Braided Cord.

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Installed Capacity (As certified by management)		1320 M.T	--
Dipped Cords – Own	Kgs	--	828060.800
Turnover – Dipped Cords	Kgs	--	817803.500
Opening Cord Stock	Kgs	--	15725.400
Closing Cord Stock	Kgs	--	25982.700

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Canara Bank, Ramnad Road Branch, Aryempi Tower, East Masi Street, Madurai – 625 001, Tamilnadu, India

· ICICI Bank, K.K. Nagar Branch, Madurai, Tamilnadu, India

Facilities :

SECURED LOANS:

PARTICULARS	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Canara Bank – Term Loan
Wind Mill Term loan (Secured against equitable mortgage of Land at Maivadi Village, Palladam Wind Mill Generator)	3.322	5.095
Wind Mill Term Loan (Secured against equitable mortgage of Land at Sanganeri Village, TNLY Wind Electric Generator)	5.113	7.473
(OCC) Cash credit loans from Canara Bank is Secured against Hypothecation of stocks and Book Debts of the company. (The limits are also secured against the personal Guarantee of all the Directors and the Corporate Guarantee of G.D. Textiles (Madurai) Private Limited)	14.734	10.897
Total	23.169	23.465

Banking Relations :	--
Auditors :
Name :	Anand and Ponnappan Chartered Accountants
Address :	1A Lakshmi Towers, 81 P T Rajan Road, Bibikulam, Madurai – 625 002, Tamilnadu, India
PAN No.:	AAAFA1423H

CAPITAL STRUCTURE

AS ON 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.100/- each	Rs.4.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.100/- each	Rs.4.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		4.000	4.000	4.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		71.617	50.108	35.972
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		75.617	54.108	39.972
LOAN FUNDS
1] Secured Loans		23.169	23.465	20.974
2] Unsecured Loans		8.237	1.116	17.938
TOTAL BORROWING		31.406	24.581	38.912
DEFERRED TAX LIABILITIES		0.045	1.017	2.616
TOTAL		107.068	79.706	81.500
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		35.630	37.626	43.646
Capital work-in-progress		0.000	1.371	0.418
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	37.263	20.850	18.728
	Sundry Debtors	24.353	23.069	22.741
	Cash & Bank Balances	42.277	28.908	20.265
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	12.958	9.950	10.876
Total Current Assets		116.851	82.777	72.610
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	34.323	33.009	28.644
	Provisions	11.090	9.059	6.530
Total Current Liabilities		45.413	42.068	35.174
Net Current Assets		71.438	40.709	37.436
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		107.068	79.706	81.500

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL		NA	NA	NA
Less	EXPENSES
		TOTAL		NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX			32.114	21.858	12.247
Less	TAX			10.605	7.722	5.343
	PROFIT/(LOSS) AFTER TAX			21.509	14.136	6.904
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			8.108	10.972	4.068
Less	APPROPRIATIONS
			Transfer to Reserve Fund	18.000	17.000	0.000
	BALANCE CARRIED TO THE B/S			11.617	8.108	10.972
	IMPORTS
			Raw Materials	75.154	60.479	59.465
			Chemicals	8.572	7.420	9.216
			Stores & Spares	0.000	0.503	0.000
	TOTAL IMPORTS			83.726	68.402	68.681
	Earnings Per Share (Rs.)			537.73	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	21.06	18.15	10.53
Return on Investment (ROI) (PBT/Networth)		0.42	0.40	0.31
Debt Equity Ratio (Total Debt /Networth)		0.42	0.45	0.97
Current Ratio (Current Asset/Current Liability)		2.57	1.97	2.06

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	----------
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	No
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:

PARTICULARS	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
From Directors	7.321	0.749
From Shareholders and Relatives	0.836	0.288
Inter Corporate Loans (Supreme Techno Fab Private limited)	0.080	0.079
Total	8.237	1.116

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90287869	14/01/2008 *	96,600,000.00	CANARA BANK	RAMNAD ROAD BRANCH, ARYEMPI TOWER, EAST MASI STREET, MADURAI - 625001, TAMIL NADU, INDIA	A32067787

* Date of charge modification

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Lab Equipment

· Wind Energic Generator

· Fire Extinguisher

· Furniture and Fixture

· Electrical Fittings

· Generator

· Office Equipments

· Computers

· Air conditioners

· Vehicle

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.61.63
UK Pound	1	Rs.101.25
Euro	1	Rs.83.42

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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		34

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.