MIRA INFORM REPORT

Report No. :	313645
Report Date :	04.04.2015

IDENTIFICATION DETAILS

Name :	PATOLA OF PATAN PRIVATE LIMITED
Registered Office :	Patolawala Farm House, Outside Fatipate Gate, Salviwado, Patan – 384265, Gujarat
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	28.09.2007
Com. Reg. No.:	04-051839
Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U18204GJ2007PTC051839
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter, Supplier and Trader of Patola Sarees.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The management has failed to file its financial with government department since 2009. Mr. Viral, the director provided general information and denied to disclose any financial information of the subject to us. As per previous financial records of 2009, the company has incurred loss from its operational activities. Business is active. Payment terms are unknown. The company can be considered for business dealings 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

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. Viral Salvi
Designation :	Directors
Contact No.:	91-9624440091
Date :	26.03.2015

LOCATIONS

Registered Office/Factory 1 :	Patolawala Farm House, Outside Fatipate Gate, Salviwado, Patan – 384265, Gujarat, India
Tel. No.:	91-2766-222182/232172
Mob No:	91-9898143484 (Mr. Nirmal Salvi) 91-9898143484 (Mr. Ashok S. Salvi) 91-9624440091 (Mr. Viral Salvi)
Fax No.:	91-2766-232172
E-Mail :	hkprajapati11@yahoo.co.in viral@patolaofpatan.com
Website :	http://www.patanpatola.net
Area :	600 Sq. ft.
Location :	Owned

DIRECTORS

As on 30.09.2009

Name :	Mr. Ashokkumar Sevantilal Salvi
Designation :	Director
Address :	Patolawala Farm House, Outside Fatipate Gate, Salviwado, Patan – 384265, Gujarat, India
Date of Appointment :	28.09.2007
DIN No.:	01491120
Name :	Mr. Viral Newkinkumar Salvi
Designation :	Director
Address :	Patolawala Farm House, Outside Fatipate Gate, Salviwado, Patan – 384265, Gujarat, India
Date of Appointment :	28.09.2007
DIN No.:	01491139
Name :	Mr. Ujval Nyukinbhai Salvi
Designation :	Director
Address :	Patolawala Farm House, Outside Fatipate Gate, Salviwado, Patan – 384265, Gujarat, India
Date of Appointment :	28.09.2007
DIN No.:	01491055
Name :	Mr. Nirmal Ashokkumar Salvi
Designation :	Director
Address :	Patolawala Farm House, Outside Fatipate Gate, Salviwado, Patan – 384265, Gujarat, India
Date of Appointment :	28.09.2007
DIN No.:	01491094

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2009

Name of Shareholders	No. of Shares	Percentage pf Holding
Ashokkumar Sevantilal Salvi	2,500	25.00
Viral Newkinkumar Salvi	2,500	25.00
Ujval Nyukinbhai Salvi	2,500	25.00
Nirmal Ashokkumar Salvi	2,500	25.00
Total	10,000	100.00

As on 30.09.2009

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter, Supplier and Trader of Patola Sarees.
Products :	Patola Saree: Narikunjar Saree Ratanchawk Saree Navaratna Saree Voragaji Saree Chhabdi Bhat Saree Chokhta Bhat Saree Chanda Bhat Saree Pan Bhat Saree Phul Bhat Saree Laheriya Bhat Saree Tarliya Bhat Saree Zumar Bhat Saree Sankal Bhat Saree Diamond Bhat Saree Star Bhat Saree Butta Bhat Saree Sarvariya Bhat Saree etc. In addition, we also offer following products: Handkerchief Wall Pieces
Exports :
Products :	Finished Goods
Countries :	UK USA London
Imports :	Not Divulged
Terms :
Selling :	Cash and credit
Purchasing :	Cash and credit

GENERAL INFORMATION

Suppliers :

Company Name :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

Customers :

Company Name :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

No. of Employees :

50 (Approximately)

Bankers :

Corporation Bank, Patan, Gujarat, India

Banking Relations :	---
Auditors :
Name :	H.K. Prajapati and Company Chartered Accountant
Address :	UB-14, Mangalmurti Complex, Near. New Fuvara, Beside Ganpati Mandir, Rajmahel Road, Mehsana-384001, Gujarat, India
PAN No:	AKVPP5939Q
Membership :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 31.03.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value		Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.100	0.100
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.121	0.000
TOTAL BORROWING		0.121	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		0.221	0.100
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.041	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.015	0.063
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.183	0.033
	Other Current Assets	0.000	0.000
	Loans & Advances	0.000	0.000
Total Current Assets		0.198	0.096
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.036	0.012
	Other Current Liabilities	0.000	0.000
	Provisions	0.000	0.000
Total Current Liabilities		0.036	0.012
Net Current Assets		0.162	0.084
PROFIT ND LOSS ACCOUNT (DR)		0.015	0.013
MISCELLANEOUS EXPENSES		0.003	0.003
TOTAL		0.221	0.100

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009	31.03.2008
	SALES
		Turnover	1.205	0.000
		Other Income	0.000	0.000
		TOTAL	1.205	0.000
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
	TOTAL		1.207	0.013
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.002)	(0.013)
Less/ Add	DEPRECIATION/ AMORTISATION		0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F)		(0.002)	(0.013)
Less	TAX		0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H)		(0.002)	(0.013)
	Earnings / (Loss) Per Share (Rs.10/- Each)		(0.20)	(1.30)

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008
PAT / Total Income	(%)	(0.17)	0.00
Net Profit Margin (PBT/Sales)	(%)	(0.17)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(0.84)	(13.97)
Return on Investment (ROI) (PBT/Networth)		(0.02)	(0.13)
Debt Equity Ratio (Total Liability/Networth)		1.21	0.00
Current Ratio (Current Asset/Current Liability)		5.50	8.00

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2008	31.03.2009
	Rs. In Million	Rs. In Million
Share Capital	0.100	0.100
Reserves & Surplus	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	0.100	0.100
long-term borrowings	0.000	0.000
Short term borrowings	0.121	0.000
Total borrowings	0.121	0.000
Debt/Equity ratio	1.210	0.000

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	Yes
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 two 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	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	No
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	No
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

CHARGES:

ENTITY	PERSON	COMPETENT AUTHORITY	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
PATOLA OF PATAN PVT.LTD.	ASHOKKUMAR SALVI SEVANTILAL NYUKINBHAI SALVI UJVAL NEWKINKUMAR SALVI VIRAL ASHOKKUMAR NIRMAL SALVI	MCA	DID NOT FILE ANNUAL RETURN AND/OR BALANCE SHEET	DECLARED DEFAULTER AS PER LIST AVAILABLE ON MCA WEBSITE (WWW.MCA.GOV.IN)  08-JAN-2015

UNSECURED LOAN

PARTICULAR	31.03.2009 (Rs. in Million)	31.03.2008 (Rs. in Million)
Deposit from shareholders and director relatives	0.080	0.000
Deposit from directors	0.041	0.000
Total	0.121	0.000

OPERATION

During the year, the total income from operation of subject is loss of Rs. 0.002 Million. Subject has made net loss of Rs. 0.002 Million after providing depreciation of Rs. Nil for the year ended on 31 March 2009

INDEX OF CHARGE:

No Charges Exist for Company

FIXED ASSETS:

· Chair

· Computer / Printer

· Desktop Table

· Furniture

· Phone

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.62.59
UK Pound	1	Rs.92.46
Euro	1	Rs.67.51

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	SUB
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.