MIRA INFORM REPORT

Report No. :	317781
Report Date :	18.04.2015

IDENTIFICATION DETAILS

Name :	CARNATION TEXFAB PRIVATE LIMITED

Registered Office :	4A, Vikas Centre, 104, S.V. Road, Santacruz (West), Mumbai – 400 054, Maharashtra
Tel. No.:	91-22-42766666

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	17.01.2013

Com. Reg. No.:	11-239779

Capital Investment / Paid-up Capital :	Rs.0.100 million

CIN No.: [Company Identification No.]	U17200MH2013PTC239779

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	MUMC20314A

PAN No.: [Permanent Account No.]	AAFCC1745E

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the business of manufacturing in all kinds of yarns, textiles, readymade garments.

No. of Employees :	7 (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 :	Yet to commence its business operations

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Even though the company was incorporated on 17^th January 2013, it is yet to commence its business operations. Mrs. Sheetal Patil, Accountant has provided general information to us and claimed that company will start its business operations from August 2015. The management has failed to file its financial record with Government Department for the year 2014. As per the available financial record of 2013, the company has not undertaken any business activities. As per the status shown in the registrar of companies business appears to be 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

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

EXTERNAL AGENCY RATING

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 (GENERAL DETAILS)

Name :	Mrs. Sheetal Patil
Designation :	Accountant
Contact No.:	91-9773311357
Date :	16.04.2015

LOCATIONS

Registered Office :	4A, Vikas Centre, 104, S.V. Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India
Tel. No. :	91-22-42766666
Mobile No.:	91-9773311357 (Mrs. Sheetal Patil)
Fax No. :	Not Available
E-Mail :	csdeesangroup@deesantex.in cs@deesantex.in sheetal.paramtex@gmail.com
Location :	Owned

Factory :	Taluka Shirpur, District Dhule, Maharashtra, India

DIRECTORS

AS ON 10.09.2013

Name :

Mr. Tapan Mukesh Patel

Designation :

Director

Address :

Chintan (Samruddhi), 9^th Road, JVPD Scheme, Vile Parle, Mumbai – 400 058, Maharashtra, India

Date of Birth/Age :

17.08.1980

Date of Appointment :

17.01.2013

DIN No. :

00482646

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	U65990MH1994PTC080726	DISHA CAPFIN PRIVATE LIMITED	Director	09/03/2002	09/03/2002	-	Active	NO
2	U70100MH1987PTC043798	SHREYAS PROPERTIES PRIVATE LIMITED	Director	21/06/2002	21/06/2002	-	Active	NO
3	U70100MH1987PTC044027	SHOBHIKA ESTATES PRIVATE LIMITED	Director	21/06/2002	21/06/2002	-	Active	NO
4	U70100MH1987PTC044026	PRATIK PROPERTIES PRIVATE LIMITED	Director	21/06/2002	21/06/2002	-	Active	NO
5	L70120MH1985PLC037017	AUTORIDERS INTERNATIONAL LIMITED	Director	25/06/2002	25/06/2002	-	Active	NO
6	L51900MH1984PLC034501	SHIRPUR GOLD REFINERY LIMITED	Director	28/06/2003	28/06/2003	30/06/2009	Active	NO
7	U17120MH2004PTC145068	PADMAVATI SYNTHETICS PRIVATE LIMITED	Director	15/03/2004	15/03/2004	-	Active	NO
8	U17120MH2005PTC150853	NINAAD TEXTILES PRIVATE LIMITED	Director	28/01/2005	28/01/2005	-	Active	NO
9	U34100MH1983PTC030004	ENPAK MOTORS PRIVATE LIMITED	Director	02/01/2006	02/01/2006	-	Active	NO
10	U65950MH1994PTC080727	MEHA TRADING PRIVATE LIMITED	Director	30/09/2008	30/04/2008	-	Active	NO
11	U17290MH2010PTC198356	GARV COTEX PRIVATE LIMITED	Director	04/01/2010	04/01/2010	-	Active	NO
12	U17121MH2007PTC169102	PANCHGANGA TEXTILES PRIVATE LIMITED	Director	29/09/2010	18/05/2010	-	Active	NO
13	U51311MH2007PTC169022	DEESAN GINNING AND PRESSING PRIVATE LIMITED	Director	29/07/2011	18/05/2010	-	Active	NO
14	U17291MH2011PTC211963	JASPER COTEX PRIVATE LIMITED	Director	06/01/2011	06/01/2011	-	Active	NO
15	U17120MH2011PTC213569	AMBARISH COTEX PRIVATE LIMITED	Director	15/02/2011	15/02/2011	-	Active	NO
16	U93090MH2007PTC168761	GODAVARI TEXFAB PRIVATE LIMITED	Director	26/09/2011	15/04/2011	-	Active	NO
17	U17200MH2011PTC219232	VASISHTHA TEX FAB PRIVATE LIMITED	Additional director	29/06/2011	29/06/2011	25/08/2013	Active	NO
18	U17120MH2005PTC150863	CREST TEXTILES PRIVATE LIMITED	Director	27/09/2013	20/02/2012	-	Active	NO
19	U17299MH2007PTC169090	SINDHU COTEX PRIVATE LIMITED	Director	09/03/2012	09/03/2012	-	Active	NO
20	U17291MH2012PTC229004	KABINI TEXTILES PRIVATE LIMITED	Director	30/03/2012	30/03/2012	-	Active	NO
21	U17110MH2012PTC230692	LAXMI WEAVING PRIVATE LIMITED	Director	07/05/2012	07/05/2012	-	Active	NO
22	U17122MH2012PTC238081	AADHEESH TEXFAB PRIVATE LIMITED	Director	20/11/2012	20/11/2012	30/11/2012	Active	NO
23	U17291MH2012PTC238198	IRIS FABRICS PRIVATE LIMITED	Director	23/11/2012	23/11/2012	-	Active	NO
24	U17200MH2013PTC239779	CARNATION TEXFAB PRIVATE LIMITED	Director	17/01/2013	17/01/2013	-	Active	NO
25	U51494MH2006PTC166194	YU-TH AD RETAIL VENTURES PRIVATE LIMITED	Additional director	14/02/2013	14/02/2013	-	Active	NO
26	U17291MH2013PTC246468	DURVASA TEXTILES PRIVATE LIMITED	Director	31/07/2013	31/07/2013	05/08/2013	Active	NO
27	U17291MH2013PTC246540	DWETA APPARELS PRIVATE LIMITED	Director	01/08/2013	01/08/2013	-	Active	NO
28	U17120MH2004PTC145227	HIRAL TEX PRIVATE LIMITED	Director	27/09/2013	08/08/2013	-	Active	NO
29	U17291MH2007PTC168225	SAMRIDDHI TEXTILES PRIVATE LIMITED	Director	30/09/2013	09/08/2013	-	Active	NO
30	U17120MH2004PTC145083	KRUTI FABRICS PRIVATE LIMITED	Director	27/09/2013	10/08/2013	-	Active	NO
31	U17200MH2013PTC247264	SAUBHAGYA COTEX PRIVATE LIMITED	Director	20/08/2013	20/08/2013	25/08/2013	Active	NO
32	U17291MH2013PTC247314	AGETI TEXTILES PRIVATE LIMITED	Director	21/08/2013	21/08/2013	25/08/2013	Active	NO
33	U17291MH2013PTC247801	GAUTAMA COTEX PRIVATE LIMITED	Director	03/09/2013	03/09/2013	03/09/2013	Active	NO
34	U17291MH2013PTC248298	VIKAS COTEX PRIVATE LIMITED	Director	17/09/2013	17/09/2013	18/09/2013	Active	NO
35	AAA-4154	ISHANVI PROJECTS LLP	Designated Partner	18/03/2011	18/03/2011	-	Active	NO

Name :

Mr. Sunil Motilal Mandora

Designation :

Director

Address :

13, Girish Bhavan, Plot No.68, J.B. Nagar, Andheri (East), Mumbai – 400 059, Maharashtra, India

Date of Birth/Age :

01.01.1961

Date of Appointment :

17.01.2013

DIN No. :

01847632

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	U17120MH2004PTC145067	SHIRPUR SYNTHETICS PRIVATE LIMITED	Director	15/03/2004	15/03/2004	10/08/2013	Active	NO
2	U17120MH2005PTC150877	PARAM TEX FAB PRIVATE LIMITED	Director	10/04/2005	10/04/2005	-	Active	NO
3	U17120MH2008PTC184401	AKANKSHA COTEX PRIVATE LIMITED	Director	08/07/2008	08/07/2008	-	Active	NO
4	U17291MH2011PTC214564	TANMAY COTEX PRIVATE LIMITED	Director	10/03/2011	10/03/2011	29/06/2013	Active	NO
5	U17291MH2011PTC216612	HARI COTSPIN PRIVATE LIMITED	Director	25/04/2011	25/04/2011	18/03/2014	Active	NO
6	U17200MH2011PTC219002	YAMNOTRI TEXTILES PRIVATE LIMITED	Director	23/06/2011	23/06/2011	-	Active	NO
7	U17291MH2012PTC238057	SAFFRON COTEX PRIVATE LIMITED	Director	20/11/2012	20/11/2012	-	Active	NO
8	U17200MH2012PTC238107	TATHYA TEXFAB PRIVATE LIMITED	Director	21/11/2012	21/11/2012	-	Active	NO
9	U17291MH2012PTC238190	CAMELLIA COTSPIN PRIVATE LIMITED	Director	23/11/2012	23/11/2012	-	Active	NO
10	U17299MH2012PTC238854	SUNFLOWER COTEX PRIVATE LIMITED	Director	15/12/2012	15/12/2012	-	Active	NO
11	U17291MH2012PTC239015	ASTER TEXTILES PRIVATE LIMITED	Director	21/12/2012	21/12/2012	-	Active	NO
12	U17200MH2013PTC239779	CARNATION TEXFAB PRIVATE LIMITED	Director	17/01/2013	17/01/2013	-	Active	NO
13	U70102MH2007PTC169800	DEESAN INFRASTRUCTURE PRIVATE LIMITED	Director	01/10/2014	01/10/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Sheetal Patil
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 10.09.2013

Names of Shareholders	No. of Shares	Percentage of holding
Tapan Mukesh Patel	9000	90.00
Sunil Motilal Mandora	1000	10.00
Total	10000	100.00

AS ON 10.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of manufacturing in all kinds of yarns, textiles, readymade garments.

Products :	Textiles Readymade Garments

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	· Krushna Cotex Private Limited · Deesan Texfab Private Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Wholesalers and Retailers

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

No. of Employees :

7 (Approximately)

Bankers :

Banker Name	Dena Bank
Branch Address	Ville Parle (East) Branch, Krishna Bhavan, 67, Nehru Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Banking Relations :	--

Auditors :
Name :	Shrikesh V. Rathi and Company Chartered Accountants
Address :	H. No.1698, Saraf Bazar, At Shirpur, District-Dhule, Dhule – 425 405, Maharashtra, India
Tel. No. :	91-2563-255005/ 255141
E-Mail :	rathi.shrikesh@gmail.com
PAN No.:	AJHPR5874R

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries (As confirmed by the Management) :	Tathya Texfab Private Limited Address: Santacruz (West), Mumbai – 400 054, Maharashtra, India IV Weaving Private Limited Address: Santacruz (West), Mumbai, Maharashtra, India

CAPITAL STRUCTURE

AS ON 10.09.2013

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 Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS			31.03.2013
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital			0.100
(b) Reserves & Surplus			0.000
(c) Money received against share warrants			0.000

(2) Share Application money pending allotment			0.000
Total Shareholders’ Funds (1) + (2)			0.100

(3) Non-Current Liabilities
(a) Long-term borrowings			0.000
(b) Deferred tax liabilities (Net)			0.000
(c) Other long term liabilities			0.000
(d) Long-term provisions			0.000
Total Non-current Liabilities (3)			0.000

(4) Current Liabilities
(a) Short term borrowings			0.000
(b) Trade payables			0.000
(c) Other current liabilities			0.007
(d) Short-term provisions			0.003
Total Current Liabilities (4)			0.010

TOTAL			0.110

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets			0.000
(ii) Intangible Assets			0.000
(iii) Capital work-in-progress			0.000
(iv) Intangible assets under development			0.000
(b) Non-current Investments			0.000
(c) Deferred tax assets (net)			0.000
(d) Long-term Loan and Advances			0.000
(e) Other Non-current assets			0.000
Total Non-Current Assets			0.000

(2) Current assets
(a) Current investments			0.000
(b) Inventories			0.000
(c) Trade receivables			0.000
(d) Cash and cash equivalents			0.100
(e) Short-term loans and advances			0.000
(f) Other current assets			0.010
Total Current Assets			0.110

TOTAL			0.110

KEY RATIOS

PARTICULARS				31.03.2013
Debt Equity Ratio (Total Debt/Networth)				0.00

Current Ratio (Current Asset/Current Liability)				11.00

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	Yes
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	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
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	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

FINANCIAL RESULTS

During the year the company has incurred no profit or loss.

INDEX OF CHARGES

S. No.

Charge ID

Date of Charge Creation/

Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

10559763

12/08/2014

23,500,000.00

DENA BANK

VILLE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67, NEHRU ROAD, VILE PARLE (EAST), MUMBAI, MAHARASHTRA -
400057, INDIA

C49360589

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.62.35
UK Pound	1	Rs.93.09
Euro	1	Rs.67.13

INFORMATION DETAILS

Information Gathered by :	REK

Analysis Done by :	KAR

Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
-- PROFITABILITY	1~10	-
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	-
--CREDIT LINES	1~10	-
--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		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.

MIRA INFORM REPORT

Unit