MIRA INFORM REPORT

Report Date :

24.09.2014

IDENTIFICATION DETAILS

Name :	LOTUS INTEGRATED TEXPARK LIMITED
Registered Office :	93, Industrial Area A, Ludhiana – 141003, Punjab
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	29.11.2006
Com. Reg. No.:	16-030716
Capital Investment / Paid-up Capital :	Rs. 222.400 Millions
CIN No.: [Company Identification No.]	U74999PB2006PLC030716
PAN No.: [Permanent Account No.]	AABCL2655E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Subject is engaged in the Activities of Providing Infrastructure Facilities Under Scheme For Integrated Textile Park.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 2700000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There seems sharp decline in the profit of the company during 2013 however net worth of the company is satisfactory. General financial position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payments terms are reported to be usually 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE RATINGS
Rating	Long Term Bank Facilities (A-) (SO)
Rating Explanation	Adequate degree of safety. It carry low credit risk
Date	18.09.2014

Rating Agency Name	CARE RATINGS
Rating	Short Term Bank Facilities (A2+ (SO)
Rating Explanation	Strong degree of safety and low credit risk
Date	18.09.2014

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 DENIED BY

Name :	Not Divulged
Designation :	Operator
Contact No.:	91-161-5038888
Date :	23.09.2014

LOCATIONS

Registered Office :	93, Industrial Area A, Ludhiana – 141003, Punjab, India
Tel. No. :	91-1679-2447012
Fax No. :	91-1679-244708
E-Mail :	corp@lotustexpark.com

DIRECTORS

As on 24.09.2013

Name :

Mr. Sanjay Jain

Designation :

Director

Address :

N – 26, 2^nd Floor, Malviya Nagar, New Delhi – 110017, Delhi, India

Date of Birth/Age :

02.06.1962

Date of Appointment :

15.09.2008

DIN No. :

00613752

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	U15420PB2005PLC029046		TRIDENT AGRITECH LIMITED	Director	30/09/2006	06/10/2005	-	Amalgamated	NO
2	U74140DL2006PTC146410		TFS BUSINESS ADVISORS INDIA PRIVATE LIMITED	Director	16/02/2006	16/02/2006	-	Active	NO
3	U74999PB2006PLC030716		LOTUS INTEGRATED TEXPARK LIMITED	Director	15/09/2008	27/11/2007	-	Active	NO
4	U17111PB1995PLC017316		RAINBOW RETAIL LIMITED	Director	24/09/2008	18/07/2008	-	Active	NO
5	U62100PB2008PLC032157		TRIDENT AEROSPACE LIMITED	Director	30/07/2008	30/07/2008	-	Active	NO
6	U17290PB2010PLC033582		TRIDENT CORPORATION LIMITED	Managing director	09/10/2010	09/10/2010	01/11/2012	Amalgamated	NO
7	U65100DL2012PTC230403		TFS INVESTMENTS PRIVATE LIMITED	Director	23/01/2012	23/01/2012	-	Active	NO
8	L99999PB1990PLC010307		TRIDENT LIMITED	Director	24/09/2012	24/09/2012	21/09/2013	Active	NO

Name :

Mr. Ram swami Raman

Designation :

Director

Address :

11/204, Siddhachal, Phase – II, Pokran No 11, Thane, Mumbai -400601, Maharashtra, India

Date of Birth/Age :

26.04.1956

Date of Appointment :

15.09.2008

DIN No. :

05201560

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	U45208TZ2003NPL010809	PALLADAM HI-TECH WEAVING PARK	Nominee director	05/10/2005	05/10/2005	-	Active	NO
2	U73100GJ2005PLC046883	GUJARAT ECO TEXTILE PARK LIMITED	Director	01/07/2007	07/04/2006	-	Active	NO
3	U74999GJ2005PTC046978	MUNDRA SEZ TEXTILE AND APPAREL PARK PRIVATE LIMITED	Nominee director	09/09/2006	09/09/2006	-	Active	NO
4	U70109DL2006PLC153767	IL&FS CLUSTER DEVELOPMENT INITIATIVE LIMITED	Director	01/06/2013	14/09/2006	-	Active	NO
5	U45300GJ2006PLC047780	SURAT SUPER YARN PARK LIMITED	Nominee director	10/01/2007	10/01/2007	-	Active	NO
6	U74999PB2006PLC030716	LOTUS INTEGRATED TEXPARK LIMITED	Director	15/09/2008	27/11/2007	-	Active	NO
7	U18101AP2006FTC048790	BRANDIX INDIA APPAREL CITY PRIVATE LIMITED	Director	30/09/2008	29/11/2007	-	Active	NO
8	U45300GJ2005PLC047423	VRAJ INTEGRATED TEXTILE PARK LIMITED	Director appointed in casual vacancy	19/12/2007	19/12/2007	-	Active	NO
9	U45208TZ2006PTC013000	ACE AGRO DRY DECOR PRIVATE LIMITED	Director	19/12/2007	19/12/2007	30/10/2008	Strike off	NO
10	U17211TZ2006PTC013265	DE NEER TEXTILES PRIVATE LIMITED	Director	19/12/2007	19/12/2007	18/03/2010	Active	NO
11	U45300GJ2005PTC047282	FAIRDEAL TEXTILE PARK PRIVATE LIMITED	Nominee director	21/02/2008	21/02/2008	-	Active	NO
12	U51909DL2008PLC172927	APPTEX MARKETING SERVICES & SOLUTIONS LIMITED	Director	30/05/2008	31/03/2008	-	Active	NO
13	U45203WB2006PLC107297	EIGMEF APPAREL PARK LTD	Nominee director	26/06/2008	26/06/2008	-	Active	NO
14	U45208PB2008PLC031841	RYTHM TEXTILE & APPARELS PARK LIMITED	Nominee director	17/07/2008	17/07/2008	-	Active	NO
15	U17124TG2007PTC079001	MAS FABRIC PARK (INDIA) PRIVATE LIMITED	Nominee director	31/07/2008	31/07/2008	-	Active	NO
16	U45400WB2008PLC124766	ASSAM JUTE PARK DEVELOPERS LIMITED	Nominee director	17/11/2008	17/11/2008	08/06/2012	Active	NO
17	U01712TZ2005PLC012329	SIMA TEXTILE PROCESSING CENTRE LIMITED	Nominee director	12/01/2009	12/01/2009	-	Active	NO
18	U80903DL2006PLC155825	SKILL TRAINING ASSESSMENT MANAGEMENT PARTNERS LIMITED	Director	05/08/2009	21/01/2009	-	Active	NO
19	U00082PB2005PLC029141	LUDHIANA INTEGRATED TEXTILE PARK LIMITED	Nominee director	30/09/2009	18/07/2009	-	Active	NO
20	U80904DL2011PLC213135	IL&FS SKILLS DEVELOPMENT CORPORATION LIMITED	Director	28/01/2011	28/01/2011	02/05/2011	Active	NO
21	U45400DL2012PLC232313	RAJSAMAND RURAL DEVELOPMENT INITIATIVE LIMITED	Director	02/03/2012	02/03/2012	-	Active	NO
22	U45400DL2012PLC232310	DEHRADUN RURAL DEVELOPMENT INITIATIVE LIMITED	Director	02/03/2012	02/03/2012	-	Active	NO

Name :

Mr. Mohamad Zahir

Designation :

Director

Address :

H No. 95, New Rajguru Nagar Via Tharike, Ludhiana – 142021, Punjab, India

Date of Birth/Age :

18.12.1942

Date of Appointment :

29.09.2007

DIN No. :

00002973

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	U35911PB1966PLC002667	HERO CYCLES LIMITED	Director	29/04/1982	29/04/1982	-	Active	NO
2	U51909DL1974PLC042836	RALSON (INDIA) LIMITED	Director	30/01/1986	30/01/1986	-	Active	NO
3	U00000PB1971PLC003012	HIGHWAY INDUSTRIES LIMITED	Director	06/09/1993	06/09/1993	24/07/2010	Active	NO
4	U74899DL1991PLC046774	HERO FINCORP LIMITED	Director	30/08/1995	30/08/1995	18/07/2012	Active	NO
5	U17115PB1989PLC009524	SOHRAB SPINNING MILLS LIMITED	Director	19/06/1996	19/06/1996	-	Active	NO
6	L24116PB1986PLC007030	IOL CHEMICALS AND PHARMACEUTICALS LIMITED	Director	30/07/1998	30/07/1998	-	Active	NO
7	U67120CH2000PLC023244	L S E SECURITIES LIMITED	Director	28/09/2001	28/09/2001	19/07/2007	Active	NO
8	L72100PB1996PLC017625	TRIDENT INFOTECH CORPORATION LIMITED	Director	10/10/2001	10/10/2001	-	Amalgamated	NO
9	U35921PB1981PLC004729	ROCKMAN INDUSTRIES LIMITED	Director	11/03/2002	11/03/2002	-	Active	NO
10	U00000PB1994PLC014271	SUNSHINE CORPORATION LIMITED	Director	29/09/2007	01/11/2006	30/06/2010	Amalgamated	NO
11	U74999PB2006PLC030716	LOTUS INTEGRATED TEXPARK LIMITED	Director	29/09/2007	12/01/2007	-	Active	NO
12	L72900PB2007PLC030830	TRIDENT INFOTECH LIMITED	Director	27/09/2008	30/01/2008	-	Amalgamated	NO
13	U17100PB2005PLC028371	ASIAN TRADING CORPORATION LIMITED	Director	30/09/2008	16/03/2008	30/06/2010	Active	NO
14	L35911PB1973PLC003264	MAJESTIC AUTO LIMITED	Director	22/09/2009	27/01/2009	-	Active	NO
15	L99999PB1990PLC010307	TRIDENT LIMITED	Director	25/09/2010	21/07/2010	15/05/2014	Active	NO

Name :

Mr. Sanjay Agarwal

Designation :

Director

Address :

A – 4/71, Sector 16 Rohini, New Delhi – 110085, Delhi, India

Date of Birth/Age :

11.01.1969

Date of Appointment :

15.02.2012

DIN No. :

05201560

Name :

Mr. Vipul Kohli

Designation :

Director

Address :

D -30, Bk Dutt Colony, New Delhi – 110003, new Dehi, India

Date of Birth/Age :

24.10.1965

Date of Appointment :

24.09.2012

DIN No. :

03601870

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	U45208PB2008PLC031841	RYTHM TEXTILE & APPARELS PARK LIMITED	Nominee director	18/08/2011	18/08/2011	27/12/2013	Active	NO
2	U74999PB2006PLC030716	LOTUS INTEGRATED TEXPARK LIMITED	Director	24/09/2012	01/10/2011	28/03/2014	Active	NO
3	U00082PB2005PLC029141	LUDHIANA INTEGRATED TEXTILE PARK LIMITED	Nominee director	18/01/2012	18/01/2012	04/02/2014	Active	NO

KEY EXECUTIVES

Name :	Mr. Sunny Arora
Designation :	Secretary
Address :	HNo. 1047/15, DZ St No.3, Basti Jodhewal, Ludjiana – 141007, Punjab, India
Date of Birth/Age :	30.03.1985
Date of Appointment :	21.09.2010
PAN No.:	AKDPA7729H
Name :	Ms. R. K. Jetia
Designation :	Account Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2013

Names of Shareholders	No. of Shares
Mr. Rajendra Gupta	29500
Mrs. Madhu Gupta	20000
Mr. Praadip Kumar Markanday	100
Mr. Rajiv Dewan	100
Mr. Pawan Jain	100
Mr. Arun Goyal	100
Mr. Jayanta K Saha	100
Trident Limited, India	10000000
M/S J. K. Enterprises, India	1000000
M/S Towel India, India	1000000
Lotus Processors Private Limited, India	1000000
Mayadevi Polycot Limited, India	1500000
Glacis Investment Limited, Mauritius	740000
Bhatinda Cotton Trader Private Limited, India	3000000
Colors Textiles Limited, India	1500000
Milton Finance Limited, Mauritius	450000
Creativeline Cotspin Private Limited, India	1000000
Satyam Home Furnishing Private Limited, India	1000000
Total	22240000

Names of Allotters	No. of Shares
Green Globe Textiles Limited	820000
Total	820000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	5.35
Bodies corporate	85.43
Other top fifty shareholders	9.22
Total	100.00

BUSINESS DETAILS

Line of Business :

The Subject is engaged in the Activities of Providing Infrastructure Facilities Under Scheme For Integrated Textile Park.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· State Bank of Patiala, Commercial Branch, Miller Ganj, Ludhiana – 141003, Punjab, India

· Punjab National Bank, Large Corporate Branch, Bhagwati Tower, R. K. Road, Near Cheema Chowk, Ludhiana – 141003, Punjab, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Terms loans from Bank	357.665	434.150
Total	357.665	434.150

Banking Relations :	--
Auditors :
Name :	S. C. Vasudeva and Company Chartered Accountants
Address :	B-XIX-220, Rani Jhansi Road, Ghumar Mandi, Ludhiana, Punjab, India
PAN No. :	AABFS5902N
Associated :	· Trident Limited, India CIN No : L99999PB1990PLC010307

CAPITAL STRUCTURE

After 24.09.2013

Authorised Capital : Rs. 600.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 538.725 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs.10/- each	Rs. 300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
22240000	Equity Shares	Rs.10/- each	Rs. 222.400 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	222.400	222.400	217.900
(b) Reserves & Surplus	462.503	421.967	380.011
(c) Money received against share warrants	8.200	8.200	8.200
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	693.103	652.567	606.111
(3) Non-Current Liabilities
(a) long-term borrowings	357.665	434.150	167.710
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.384	0.000	0.000
Total Non-current Liabilities (3)	359.049	434.150	167.710
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	28.035	10.615	2.948
(c) Other current liabilities	208.091	232.256	44.675
(d) Short-term provisions	0.065	0.325	0.210
Total Current Liabilities (4)	236.191	243.196	47.833
TOTAL	1288.343	1329.913	821.654
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1195.080	648.348	647.804
(ii) Intangible Assets	25.224	29.000	33.000
(iii) Capital work-in-progress	0.000	517.579	49.302
(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	14.450	33.215	66.037
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1234.754	1228.142	796.143
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4.605	0.000	0.000
(c) Trade receivables	39.515	5.314	7.509
(d) Cash and cash equivalents	5.895	88.538	9.541
(e) Short-term loans and advances	1.770	7.894	8.461
(f) Other current assets	1.804	0.025	0.000
Total Current Assets	53.589	101.771	25.511
TOTAL	1288.343	1329.913	821.654

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	160.234	60.161	45.862
		Other Income	1.062	0.511	0.472
		TOTAL	161.296	60.672	46.334
Less	EXPENSES
		Cost of Materials Consumed	55.873	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(3.359)	0.000	0.000
		Employees benefits expense	5.719	1.068	1.036
		Other expenses	13.036	6.177	6.393
		TOTAL (B)	71.269	7.245	7.429
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		90.027	53.427	38.905
Less	FINANCIAL EXPENSES		54.852	26.902	23.323
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		35.175	26.525	15.582
Less/ Add	DEPRECIATION/ AMORTISATION		34.639	20.569	17.057
	PROFIT/ (LOSS) BEFORE TAX		0.536	5.956	(1.475)
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		0.536	5.956	(1.475)
	Earnings / (Loss) Per Share (Rs.)		0.02	0.27	(0.07)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.33	9.82	(3.18)
Net Profit Margin (PBT/Sales)	(%)	0.33	9.90	(3.22)
Return on Total Assets (PBT/Total Assets}	(%)	0.04	0.73	(0.19)
Return on Investment (ROI) (PBT/Networth)		0.00	0.01	0.00
Debt Equity Ratio (Total Debt/Networth)		0.52	0.67	0.28
Current Ratio (Current Asset/Current Liability)		0.23	0.42	0.53

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	217.900	222.400	222.400
Reserves & Surplus	380.011	421.967	462.503
Net worth	597.911	644.367	684.903
long-term borrowings	167.710	434.150	357.665
Short term borrowings	0.000	0.000	0.000
Total borrowings	167.710	434.150	357.665
Debt/Equity ratio	0.280	0.674	0.522

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	45.862	60.161	160.234
		31.178	166.342

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	45.862	60.161	160.234
Profit	(1.475)	5.956	0.536
	(3.22)%	9.90%	0.33%

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
10]	Designation of contact person
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	Yes
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	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

CORPORATE OVERVIEW

The Company is a textile park, operates in providing infrastructure facilities/utilities to the other business houses for establishing textiles and allied business activities. Apart from that Company also established its own Fiber Dyeing unit in the park.

RESULT OF OPERATIONS

Financial Performance and Review the Total Revenue of the Company for the year under review increased to Rs 161.297 Millions as compared to Rs 60.672 Millions in the previous financial year, registering a growth of approximately 166 percent over the previous year. The Profit before Interest, Depreciation and Tax (PBIDT) for the year has increased by Rs 30.385 Millions in absolute terms, a growth of approximately 59 percent as compared to last year. During the year, Company has earned a net profit of Rs 0.536 Million. The Companies earnings per share (EPS) is Rs 0.02 and cash earning per share is Rs 1.58 during the current year.

BUSINESS OPERATIONS

Directors of your Company takes pleasure in informing you that during the period under review, Fiber Dyeing unit of the Company has started its commercial operations and has been stabilized.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10380867	26/09/2012	620,000,000.00	Punjab National Bank	Large Corporate Branch, Bhagwati Tower, RK Road,  Cheema Chowk, Ludhiana, Punjab - 141003, INDIA	B59812172
2	10341426	27/05/2013 *	170,000,000.00	STATE BANK OF PATIALA	COMMERCIAL BRANCH, MILLER GANJ, LUDHIANA, Punjab  - 141003, INDIA	B77853547
3	10319090	08/11/2011	20,000,000.00	Punjab National Bank	Large Corporate Branch, Bhagwati Tower, RK Road,  Cheema Chowk, Ludhiana, Punjab - 141003, INDIA	B25833872
4	10297058	27/06/2011	860,000,000.00	Punjab National Bank	Large Corporate Branch, Bhagwati Tower, RK Road,  Cheema Chowk, Ludhiana, Punjab - 141003, INDIA	B16809451
5	10166219	27/05/2013 *	415,000,000.00	PUNJAB NATIONAL BANK	Large Corporate Branch, Bhagwati Tower, R K Road,  Near Cheema Chowk, Ludhiana, Punjab - 141003, IND  IA	B77687663

* Date of charge modification

Fixed Assets

· Land and Building

· Factory building

· Plant and equipment

· Furniture and fixtures

· Motor vehicles

· Office equipment

· Computer equipment

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.60.80
UK Pound	1	Rs.100.06
Euro	1	Rs.78.49

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	DIV
Report Prepared by :	KSL

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.