MIRA INFORM REPORT

Report No. :	316800.2
Report Date :	15.04.2015

IDENTIFICATION DETAILS

Name :	SHYAM INDOFAB PRIVATE LIMITED
Registered Office :	1403, 14th Floor, Chiranjeev Tower, 43, Nehru Place, New Delhi – 110019
Tel. No.:	91-172-2585035
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.01.2012
Com. Reg. No.:	55-251684
Capital Investment / Paid-up Capital :	Rs. 56.635 Million
IEC No.:	2212005962
CIN No.: [Company Identification No.]	U17299DL2012PTC251684
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AARCS6679R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Knitted fabric of all kinds which includes fabrics for essentials, fashion, workwear etc.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Management of the company has reported low profitability during the financial year 2013-2014 against loss incurred in previous financial year. Further, reserves seem to be low. Trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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. Anurag Aggarwal
Designation :	Director
Contact No.:	91-9779627737
Date :	10.04.2015

LOCATIONS

Registered Office :	1403, 14^th Floor, Chiranjeev Tower, 43, Nehru Place, New Delhi – 110019, India
Tel. No.:	Not Available
Mobile No.:	91-9779627737 (Mr. Anurag Aggarwal )
Fax No.:	Not Available
E-Mail :	anurag.aggarwal@shyamindofab.com
Area :	1000 Sq ft
Location :	Rented
Factory:	Plot No T-1 MIDC Additional Amravati Industrial Are Village Sawardi Taluka and District Amravati -444901, Maharashtra India
Tel. No.:	91-172-2585035
Email:	Ap1@shyaindofab.com
Corporate Office:	SCO 35, First Floor, Sector – 12, Panchkula – 134112, Haryana, India
Email:	Fc1@shyamindoab.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Sandeep Gupta

Designation :

Director

Address :

H No. 90, Sector 7, Panchkula – 134109, Haryana, India

Date of Birth/Age :

13.03.1963

Experience:

30 years

Date of Appointment :

19.01.2012

DIN No.:

00798145

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	U17116CH1995PLC016242	SHYAM INDOSPIN LIMITED	Managing director	01-01-13	19-04-95	-	Active	NO
2	U15122DL2009PTC194605	GOOD HEALTH HIGH SPIRITS PRIVATE LIMITED	Managing director	15-12-09	15-12-09	27-12-11	Active	NO
3	U17299DL2012PTC251684	SHYAM INDOFAB PRIVATE LIMITED	Director	19-01-12	19-01-12	-	Active	NO
4	U17120MH1967PLC013669	CONFEDERATION OF INDIAN TEXTILE INDUSTRY	Director	23-09-14	23-09-14	-	Active	NO

Name :

Mr. Santosh Kumar Gupta

Designation :

Additional director

Address :

H No. 90, Sector 7, Panchkula – 134109, Haryana, India

Date of Birth/Age :

01.05.1937

Date of Appointment :

11.02.2012

DIN No.:

02505869

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	U17116CH1995PLC016242	SHYAM INDOSPIN LIMITED	Whole-time director	01-01-13	28-04-95	-	Active	NO
2	U17299DL2012PTC251684	SHYAM INDOFAB PRIVATE LIMITED	Additional director	11-02-12	11-02-12	-	Active	NO

Name :

Mr. Sasanka Sekhar Aich

Designation :

Additional director

Address :

H No. 90, Sector 7, Panchkula – 134109, Haryana, India

Date of Birth/Age :

09.08.1953

Experience:

30 Years

Date of Appointment :

07.11.2012

DIN No.:

06422601

Name :

Mr. Anurag Aggarwal

Designation :

Additional director

Address :

Shanti Kunj, Railway Road, Sangrur -148001, Punjab, India

Date of Birth/Age :

34 Years

Experience:

10 Years

Date of Appointment :

24.10.2014

DIN No.:

06482593

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Sandeep Gupta	5168470	82.27
Sandeep Gupta HUF	490000	7.80
Parul Sandeep Gupta	5000	0.08
Fox Vigil Fashion Fze, United Arab Emirates	618892	9.85
Total	6282362	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	9.85
Directors or relatives of Directors	90.15
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Knitted fabric of all kinds which includes fabrics for essentials, fashion, workwear etc.
Products :	Knitted fabric of all kinds which includes fabrics for essentials, fashion, workw
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	L/C
Purchasing :	Credit (30 Days)

PRODUCTION STATUS (AS ON 31.03.2014)

Particulars	Installed Capacity
Knitting	6.00 TPD
Dyeing and Processing	15.00 TPD

GENERAL INFORMATION

Suppliers :

Reference :	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 :

Retailers

Reference :	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 :

200 (Approximately)

Bankers :

• Bank of India, Sco-81-82, Sector-17-B, Chandigarh - 160017, Chandigarh, India

Term Loan: Rs. 250.000 Million

Working Capital : Rs. 219.200 Million

• Allahabad Bank, SCO-12A, Sector 11, Panchkula, Haryana, India

Term Loan: Rs. 150.000 Million

• State Bank of Patiala, SCO-440, Sector – 8, Panchkula, Haryana, India

Term Loan: Rs. 100.000 Million

• IDBI Bank, SCO – 72-73, Sector – 17-B, Bank Square Chandigarh – 160017, India

Working Capital : Rs. 219.200 Million

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from banks	95.261	0.000
Total	95.261	0.000

Banking Relations :	--
Auditors :
Name :	Naresh Parmod and Associates Chartered Accountants
Address :	Nasirpur, Hissar, Road, Ambala City -134103, Haryana, India
Tel No.:	91-171-2530780/2530535/2530472
Email:	Ca_naresh_mittal@yahoo.co.in
PAN N Income-tax PAN of auditor or auditor's firm :	AAGFN4325N
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
13000000	Equity Shares	Rs.10/- each	Rs. 130.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6731493	Equity Shares	Rs.10/- each	Rs. 67.315 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
13000000	Equity Shares	Rs.10/- each	Rs. 130.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5663470	Equity Shares	Rs.10/- each	Rs. 56.635 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	56.635	0.100
(b) Reserves & Surplus	0.102	0.088
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	56.737	0.188
(3) Non-Current Liabilities
(a) long-term borrowings	95.261	0.000
(b) Deferred tax liabilities (Net)	0.029	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	95.290	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	13.488	36.845
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	13.488	36.845
TOTAL	165.515	37.033
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	30.242	0.300
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	28.248	16.785
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.015
(d) Long-term Loan and Advances	0.081	0.039
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	58.571	17.139
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	39.434	1.650
(e) Short-term loans and advances	66.548	18.230
(f) Other current assets	0.962	0.014
Total Current Assets	106.944	19.894
TOTAL	165.515	37.033

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income	NA	NA
	Other Income	NA	NA
	TOTAL	NA	NA
Less	EXPENSES	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	NA	NA
Less	TAX	NA	NA
	PROFIT/ (LOSS) AFTER TAX	0.014	0.088
	Earnings / (Loss) Per Share (Rs.)	0.00	NA

Particulars	31.03.2015
Sales Turnover (Approximately)	Not Divulged

Estimated turnover for FY 16 is more than Rs. 1000.000 Million

The above information has been parted by Mr. Anurag Aggarwal

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013
Debt Equity Ratio (Total Debt /Networth)	0.00	0.00
Current Ratio (Current Asset/Current Liability)	0.00	0.00

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	56.635
Reserves & Surplus	0.088	0.102
Net worth	0.188	56.737
long-term borrowings	0.000	95.261
Short term borrowings	0.000	0.000
Total borrowings	0.000	95.261
Debt/Equity ratio	0.000	1.679

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	No
12]	Profitability for last two 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	No
18]	Major customers	No
19]	Payments terms	Yes
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	No

FINANCIAL OPERATIONS:-

During the year, the company has incurred Net Profit of Rs. 0.014 Million as compared to loss incurred in the preceding financial year.

GENERAL INFORMATION

Subject was incorporated to set up an integerated textile processing plant. The project of the company has been approved by the Banks and Financial Institutions. The company is doing market surveys and other feasible studies for the purpose of setting up the plant

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10549619	18/02/2015	219,200,000.00	IDBI BANK LIMITED	IDBI TOWER, WORL TRADE COMPLEX, CUFFE PARADE, MUM BAI, MAHARASHTRA - 400005, INDIA	C43850106
2	10516655	26/08/2014	15,000,000.00	STATE BANK OF PATIALA	SCO-414, SECTOR-8, PANCHKULA, HARYANA - 134109, IN DIA	C18121715
3	10457878	28/04/2014 *	500,000,000.00	BANK OF INDIA	SCO-81-82, SECTOR-17-B, CHANDIGARH, CHANDIGARH - 1 60017, INDIA	C03945656

* Date of charge modification

TRADE REFERENCE

• A P Textile, Mr. Ritesh Gupta – 91-9810279789
• Lalita Textile Concern, Mr. Ritesh Bagla – 91-9415145887
• Huntsman Co., Mr. Mukherjee – 91-9820736756

FIXED ASSETS

Tangible assets

• Land
• Plant and equipment
• Furniture and fixtures
• Office equipment
• Computer equipments

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 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.62.39
UK Pound	1	Rs.91.06
Euro	1	Rs.66.16

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SUB
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	2
--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		30

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.