MIRA INFORM REPORT

Report No. :	318679
Report Date :	25.04.2015

IDENTIFICATION DETAILS

Name :	SAFFRON COTEX PRIVATE LIMITED

Registered Office :	4/A, Vikas Center, 104 S.V. Road, Santacruz (west) Mumbai - 400054, Maharashtra
Tel No.:	91-22-42766666

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	20.11.2012

Com. Reg. No.:	11-238057

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

CIN No.: [Company Identification No.]	U17291MH2012PTC238057

IEC No.:	Not Available

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 of Textile Products

No. of Employees :	Information denied by management

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 :	Even though the company was incorporated during 2012 the company is yet to commence its commercial operation. It is having moderate track record. Ms Shrima Compliance officer provided general information and also claimed that the company has not yet planned when to start its activity. A per Registrar of companies the status of the company is shown as active. Payment terms are unknown. The company can be considered for business dealings on a secured trade terms and condition

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

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 (GENERAL INFORMATION)

Name :	Ms. Shrima
Designation :	Compliace Officer
Contact No.:	91-22-427666666
Date :	22.04.2015

LOCATIONS

Registered Office :	4/A, Vikas Center, 104 S.V. Road, Santacruz (west) Mumbai - 400054, Maharashtra, India
Tel. No.:	91-22-42766666
Fax No.:	Not Available
E-Mail :	cs@deesantex.in csdeesangroup@deesantex.in

Factory :	Shirpur, Dhule, Nashik, India

DIRECTORS

As on 25.09.2014

Name :

Mrs. Sneha Parekh

Designation :

Director

Address :

Pallvi Beach Angle, Ruia park, Opposite Military House, Juhu, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

27.12.1984

Date of Appointment :

20.11.2012

DIN No.:

00654463

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	U17120MH2004PTC145043	SNEHA COTTONS PRIVATE LIMITED	Director	15/03/2004	15/03/2004	-	Active	NO
2	U17120MH2005PTC150855	SANGEET FABRICS PRIVATE LIMITED	Director	25/07/2005	25/07/2005	-	Active	NO
3	U17120MH2010PTC211332	IVORY TEXTILES PRIVATE LIMITED	Director	24/12/2010	24/12/2010	-	Active	NO
4	U17200MH2010PTC211459	ABHINAV TEXFAB PRIVATE LIMITED	Director	27/12/2010	27/12/2010	-	Active	NO
5	U17210MH2011PTC218053	Jamadagni Textiles Private Limited	Director	30/09/2013	31/05/2011	-	Active	NO
6	U17230MH2011PTC223725	KASHYAP WEAVES PRIVATE LIMITED	Director	29/09/2012	10/11/2011	-	Active	NO
7	U17290MH2012PTC227671	KAILASHNATH TEXFAB PRIVATE LIMITED	Director	05/03/2012	05/03/2012	-	Active	NO
8	U17291MH2012PTC228675	GUNJAVNI COTEX PRIVATE LIMITED	Director	26/03/2012	26/03/2012	-	Active	NO
9	U17291MH2012PTC238057	SAFFRON COTEX PRIVATE LIMITED	Director	20/11/2012	20/11/2012	-	Active	NO
10	U17200MH2012PTC238212	DURJA TEXFAB PRIVATE LIMITED	Director	23/11/2012	23/11/2012	-	Active	NO
11	U17219MH2007PTC169092	PANZARA TEXTILES PRIVATE LIMITES	Director	24/09/2013	02/08/2013	-	Active	NO
12	U17299MH2007PTC167840	AADITYA TEXTILES PRIVATE LIMITED	Director	30/09/2013	05/08/2013	-	Active	NO
13	U17120MH2005PTC150854	URJA TEXTILES PRIVATE LIMITED	Director	30/09/2013	10/08/2013	-	Active	NO
14	U17120MH2004PTC145058	PRIYADARSHINI TEX PRIVATE LIMITED	Director	27/09/2013	13/08/2013	-	Active	NO
15	U17120MH2004PTC145333	MEHA GARMENTS PRIVATE LIMITED	Director	30/09/2013	14/08/2013	-	Active	NO

Name :

Mr. Sunil Motilal Mandora

Designation :

Director

Address :

A/61, Rustomjee Central Park Chakala, Andheri East, Mumbai - 400093, Maharashtra, India

Date of Birth/Age :

01.01.1961

Date of Appointment :

20.11.2012

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

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2014

Names of Shareholders		No. of Shares
Sneha Parekh		9000
Sunil Motilal Mandora		1000

Total		10000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00

Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Textile Products

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	L/C, Cash and Credit

Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Suppliers :

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

Customers :

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 :

Information denied by management

Bankers :

Banker Name	Dena Bank
Branch Address	Vile Parle, Mumbai
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

Auditors :
Name :	Shrikesh V. Rathi and Company Chartered Accountant
Address :	1698, Saraf Bazar,Kishor Kunj, Marwadi lane, Shripur, Dhule - 425405, Nashik, India
Tel. No.:	91-2562236435
Mobile No.:	91-9422791653
E-Mail :	vmrathi555@gmail.com
PAN No.:	AJHPR5874R

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 07.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	0.000	0.000
(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)	0.100	0.100

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

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	0.000	0.006
(d) Short-term provisions	0.006	0.003
Total Current Liabilities (4)	0.006	0.009

TOTAL	0.106	0.109

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

(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	0.089	0.100
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.017	0.009
Total Current Assets	0.106	0.109

TOTAL	0.106	0.109

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Return on Total Assets (PBT/Total Assets}	(%)	0.000	0.000

Return on Investment (ROI) (PBT/Networth)		0.000	0.000

Debt Equity Ratio (Total Debt /Networth)		0.000	0.000

Current Ratio (Current Asset/Current Liability)		17.67	12.11

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	0.100
Reserves & Surplus	0.000	0.000
Net worth	0.100	0.100

long-term borrowings	0.000	0.000
Short term borrowings	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	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	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 two years	Yes
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	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	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	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

INDEX OF CHARGES

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

10559828

12/08/2014

23,500,000.00

DENA BANK

VILLE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67,, N
EHRU ROAD, VILEPARLE- EAST, MUMBAI, Maharashtra -
400057, INDIA

C49379209

* 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.63.40
UK Pound	1	Rs.95.42
Euro	1	Rs.68.48

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	DIV

Report Prepared by :	RKI

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	NO
--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		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

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