MIRA INFORM REPORT

Report Date :

25.07.2014

IDENTIFICATION DETAILS

Name :	VIKAS COTEX PRIVATE LIMITED

Registered Office :	Basement No. 17, Vikas Centre, B Wing 106 S V Road, Santacruz (West), Mumbai-400054, Maharashtra

Country :	India

Date of Incorporation :	17.09.2013

Com. Reg. No.:	11-248298

Capital Investment / Paid-up Capital :	Not Divulged

CIN No.: [Company Identification No.]	U17291MH2013PTC248298

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Textile.

No. of Employees :	Information Decline by Management

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Status :	New Business

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a new company incorporated during 17^th September 2013, and it is established itself gradually. Mr. C. A. Kutty, Finance department has provided general information to us and claimed that company will start its business operation from March 2015. As per the status in the registrar of companies business appears to be active. Payment terms are unknown. The company can be considered for business dealing on safe and secured 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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

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

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

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 PARTED BY

Name :	Mr. C. A. Kutty
Designation :	Finance Department
Contact No.:	91-22-42766666
Date :	23.07.2014

LOCATIONS

Registered Office :	Basement No. 17, Vikas Centre, B Wing 106 S V Road, Santacruz (West), Mumbai-400054, Maharashtra India
Tel. No.:	91-22-42766666 / 121
Fax No.:	Not Available
E-Mail :	cakutty@hotmail.com csdeesangroup@deesaantex.in
Website :	http://dessangroup.com
Location :	Owned

Branch :	Shirpur, Maharashtra, India

DIRECTORS

Name :

Mr. Saroj Bansal

Designation :

Director

Address :

130, Betal Mohalla, Ward No.16, Dist.Bharatpur, Deeg-321203, Rajasthan, India

Date of Birth/Age :

01.11.1951

Date of Appointment :

18.09.2013

DIN No.:

06634380

Others 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	U17291MH2013PTC246468	DURVASA TEXTILES PRIVATE LIMITED	Additional director	05/08/2013	05/08/2013	-	Active	NO
2	U17291MH2013PTC248298	VIKAS COTEX PRIVATE LIMITED	Additional director	18/09/2013	18/09/2013	-	Active	NO

Name :

Ms. Rima Pravinchandra Patel

Designation :

Director

Address :

Giriraj Bhavan, Opp Ibp Petrol Pump, Rambag Maninagar, Ahmedabad-380008, Gujarat, India

Date of Birth/Age :

19.12.1985

Date of Appointment :

17.09.2013

DIN No.:

03519823

Others 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	U18101MH2004PTC145334	SHIRPUR TEX FAB PRIVATE LIMITED	Director	30/09/2011	03/10/2010	-	Active	NO
2	U17120MH2004PTC145067	SHIRPUR SYNTHETICS PRIVATE LIMITED	Director	12/09/2011	03/10/2010	-	Active	NO
3	U17120MH2004PTC148906	TARINI GARMENTS PRIVATE LIMITED	Director	11/09/2011	03/10/2010	-	Active	NO
4	U17120MH2005PTC151000	SOLARIS TEX FAB PRIVATE LIMITED	Director	10/09/2011	03/10/2010	-	Active	NO
5	U17291MH2011PTC224330	NARAD TEXTILES PRIVATE LIMITED	Director	29/09/2012	24/11/2011	-	Active	NO
6	U17121MH2007PTC168837	ULHAS TEXTILES PRIVATE LIMITED	Director	28/09/2012	06/03/2012	-	Active	NO
7	U17121MH2007PTC169155	TAPI COTEX PRIVATE LIMITED	Director	24/09/2013	07/03/2012	-	Active	NO
8	U17299MH2007PTC168832	ANER TEXTILES PRIVATE LIMITED	Director	29/09/2012	08/03/2012	-	Active	NO
9	U17120MH2007PTC169383	GANGA COTEX PRIVATE LIMITES	Director	28/09/2012	10/03/2012	-	Active	NO
10	U17291MH2012PTC228493	SARAYU TEXTILES PRIVATE LIMITED	Director	20/03/2012	20/03/2012	-	Active	NO
11	U17200MH2012PTC228764	GOMATI COTEX PRIVATE LIMITED	Director	27/03/2012	27/03/2012	-	Active	NO
12	U17291MH2012PTC238094	NIRANJANA COTEX PRIVATE LIMITED	Director	20/11/2012	20/11/2012	-	Active	NO
13	U17291MH2012PTC239026	ALYSSUM COTSPIN PRIVATE LIMITED	Director	21/12/2012	21/12/2012	-	Active	NO
14	U17121MH2007PTC168835	KOYNA TEXTILES PRIVATE LIMITED	Director	01/08/2013	01/08/2013	-	Active	NO
15	U17120MH2005PTC150851	RIDDHI TEX FAB PRIVATE LIMITED	Director	30/09/2013	07/08/2013	-	Active	NO
16	U17120MH2004PTC145226	MEHA TEX PRIVATE LIMITED	Director	30/09/2013	10/08/2013	-	Active	NO
17	U17291MH2013PTC247096	AROGYA TEXTILES PRIVATE LIMITED	Director	17/08/2013	17/08/2013	-	Active	NO
18	U17200MH2013PTC247264	SAUBHAGYA COTEX PRIVATE LIMITED	Director	20/08/2013	20/08/2013	-	Active	NO
19	U17200MH2013PTC247248	PULASTYA TEXTILES PRIVATE LIMITED	Director	20/08/2013	20/08/2013	-	Active	NO
20	U17120MH2013PTC247242	MARICHI TEXTILES PRIVATE LIMITED	Director	20/08/2013	20/08/2013	-	Active	NO
21	U17120MH2013PTC247478	SURABHI COTEX PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO
22	U17291MH2013PTC247596	KUTSA COTEX PRIVATE LIMITED	Director	28/08/2013	28/08/2013	-	Active	NO
23	U17291MH2013PTC248298	VIKAS COTEX PRIVATE LIMITED	Director	17/09/2013	17/09/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. C. A. Kutty
Designation :	Finance Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 21.07.2013

Names of Shareholders	No. of Shares
Tapan Patel	5000
Rima Patel	5000
TOTAL	10000

BUSINESS DETAILS

Line of Business :	Manufacturer of Textile.

Imports :
Products :	Machinery
Countries :	· Germany · China · Japan

GENERAL INFORMATION

No. of Employees :	Information decline by Management.

Bankers :	Bank of Baroda, 10/12 Mumbai Samachar Marg, Fort -400001, Branch, Mumbai, Maharashtra, India

Banking Relations :	---

Auditors :
Name :	Shrikesh V Rathi nd company Chartered Accountant
Group Company :	· Deesan Cotex Private Limited · Param Tex Fab Private Limited · Laxmi Textiles Private Limited · Mahocot Textiles Private Limited · Krushna Cotex Private Limited · Dweta Garments Private Limited · Priyadarshani Sahakari Soot Girani Limited · Deesan Texfab Private Limited · Kashyap Weaves Private Limited · Atri Textiles Private Limited · Jamadagni Textiles Private Limited · Parsu Textiles Private Limited · Amethyst Cotex Private Limited · Valmiki Textiles Private Limited · Maandu Textiles Private Limited · Narad Textiles Private Limited · Krish Knitting Private Limited · Marich Textiles Private Limited · Kusta Cotex Private Limited · Saubhagya Cotex Private Limited · Pulastya Textiles Private Limited · Gautam Cotex Private Limited · Durvasa Textiles Private Limited · Angiras Textiles Private Limited · Pulaha Textiles Private Limited · Ageti Textiles Private Limited · Surabhi Cotex Private Limited · Kanchan Cotex Private Limited · Varaha Texfab Private Limited · Arogys Textiles Private Limited · Vamdev Textiles Private Limited

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	-----
Total :	Not Divulged

FINANCIAL DATA

[all figures are in Rupees Millions]

NEW BUSINESS

The above information has been parted by Mr. C. A Kutty.

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	No
12]	Profitability for last three years	No
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	No
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	No
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	No
28]	Incorporation details, if applicable	No
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

INDEX OF CHARGES

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

10500657

02/04/2014 *

36,298,000.00

BANK OF BARODA

10/12 MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHAR
ASHTRA - 400001, INDIA

C09499435

* Date of charge modification

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. 60.00
UK Pound	1	Rs.102.19
Euro	1	Rs. 80.68

INFORMATION DETAILS

Information Gathered by :	KRN

Analysis Done by :	PDT

Report Prepared by :	ASH

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.