MIRA INFORM REPORT

Report No. :	355075
Report Date :	15.12.2015

IDENTIFICATION DETAILS

Name :	FARIDA SHOES PRIVATE LIMITED
Registered Office :	151/4, Mount Poonamalle Road, Ramapuram, Chennai – 600 089, Tamilnadu
Tel. No.:	91-44-22521515
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.09.1976
Com. Reg. No.:	18-007207
Capital Investment / Paid-up Capital :	Rs. 8.766 Million
CIN No.: [Company Identification No.]	U19119TN1976PTC007207
IEC No.:	0488003920
TAN No.: [Tax Deduction & Collection Account No.]	CHEF00075F
PAN No.: [Permanent Account No.]	AAACF0496Q
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the manufacture and export of leather footwear and other accessories. (Registered Activity)
No. of Employees :	Not Available

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 1134000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is the flagship company of the Farida Group of Companies. It is manufacturer and exporter of leather and leather goods. It is an established company having satisfactory track. Management has failed to file its financial record with government department of the year 2015. Rating takes into consideration strong financial risk profile of the company marked by adequate networth base and comfortable gearing in FY14. Further the company has reported significant increase in sales turnover and profit along with decent profit margin in the year under consideration. Trade relations are fair. Business is active. Payment terms are reported as slow but correct. In view of experienced promoters, the company can be considered 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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	ICRA
Rating	Long term proposed “BBB-”
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	May, 2015

Rating Agency Name	ICRA
Rating	Short term fund based “A3”
Rating Explanation	Minimal degree of safety and higher credit risk
Date	May, 2015

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 31-03-2015.

LOCATIONS

Registered Office :	151/4, Mount Poonamlle Road, Ramapuram, Chennai-600089, Tamilnadu, India
Tel. No.:	91-44-22521515
Fax No.:	Not Available
E-Mail :	treasury@faridatannery.com muthu@farida.co.in
Factory :	37, Jalal Road, Ambur -635802., Vellore District, Tamilnadu, India

DIRECTORS

As on 31.03.2015

Name :

Mr. Rafeeque Ahmed Mecca

Designation :

Managing Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600 034, Tamilnadu, India

Date of Birth/Age :

17.09.1947

Date of Appointment :

01.01.2000

DIN No.:

0013749

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	L85110TN1979PLC008035	APOLLO HOSPITALS ENTERPRISE LIMITED	Director	29/12/1979	29/12/1979	-	Active	NO
2	U18209TN1981PTC008805	FARIDA CLASSIC SHOES PRIVATE LIMITED	Managing director	09/06/1981	09/06/1981	-	Active	NO
3	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	19/04/1985	19/04/1985	-	Active	NO
4	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Managing director	29/09/1987	29/09/1987	-	Active	NO
5	U73100TN1992NPL022530	INDIAN INSTITUTE OF LEATHER PRODUCTS	Director	23/04/1992	23/04/1992	31/03/2015	Active	NO
6	U19201TN1995PTC030691	BAER SHOES (INDIA) PRIVATE LIMITED	Director	28/03/1995	28/03/1995	25/06/2008	Active	NO
7	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Managing director	17/04/1998	17/04/1998	-	Active	NO
8	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Managing director	01/01/2000	01/01/2000	-	Active	NO
9	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19/06/2001	19/06/2001	-	Active	NO
10	U45203TN2001NPL047485	AMBUR ECONOMIC DEVELOPMENT ORGANISATION	Director	23/07/2001	23/07/2001	-	Active	NO
11	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26/05/2004	26/05/2004	-	Active	NO
12	U19201TN2004PTC053703	ASTON SHOES PRIVATE LIMITED	Managing director	12/07/2004	12/07/2004	-	Active	NO
13	U19112TN2005PTC055152	ARCOT SOLES PRIVATE LIMITED	Director	13/01/2005	13/01/2005	-	Active	NO
14	U74210TN2005PTC055311	FARIDA ENGINEERING SERVICES PRIVATE LIMITED	Managing director	07/02/2005	07/02/2005	-	Amalgamated	NO
15	U74140TN2005PTC055310	FARIDA MANAGEMENT SERVICES PRIVATE LIMITED	Managing director	07/02/2005	07/02/2005	-	Strike off	NO
16	U19116TN2005PTC055503	FARIDA XIEZHAN MOULDS PRIVATE LIMITED	Director	28/02/2005	28/02/2005	-	Amalgamated	NO
17	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
18	U19116TN2005PTC056220	AADIL ASHFAQUE AND COMPANY PRIVATE LIMITED	Director	10/05/2005	10/05/2005	20/09/2014	Active	NO
19	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24/02/2006	24/02/2006	-	Active	NO
20	U93090TN1996NPL035469	INDIAN LEATHER INDUSTRY FOUNDATION	Director	05/08/2006	05/08/2006	20/09/2014	Active	NO
21	U19201TN2004PTC053247	TOP FONDI SOLES (INDIA) PRIVATE LIMITED	Director	21/08/2007	18/06/2007	-	Amalgamated	NO
22	U19119TN1989PLC016997	AMBUR TANNERY EFFLUENT TREATMENT COMPANY LIMITED	Director	20/06/2007	20/06/2007	20/09/2014	Active	NO
23	U93000TN2008NPL068574	CHENNAI ENVIRONMENTAL MANAGEMENT COMPANY OF TANNERS	Director	15/07/2008	15/07/2008	18/09/2014	Active	NO
24	U93090TN1984NPL010934	COUNCIL FOR LEATHER EXPORTS	Additional director	18/12/2010	18/12/2010	-	Active	NO
25	U63090TN2011PTC080447	WESTERN GATEWAY CARGO SERVICES PRIVATE LIMITED	Director	04/05/2011	04/05/2011	-	Active	NO
26	U74999TN1910NPL002343	SOUTHERN INDIA CHAMBER OF COMMERCE AND INDUSTRY	Director	07/09/2011	07/09/2011	-	Active	NO
27	U74999MH1957GOI010918	ECGC Limited	Director	13/03/2012	13/03/2012	12/03/2015	Active	NO
28	U74999TN2012NPL088131	LEATHER SECTOR SKILL COUNCIL	Director	30/09/2014	24/07/2013	-	Active	NO
29	U19200DL2014NPL263010	Confederation of Indian Footwear Industries	Director	03/01/2014	03/01/2014	-	Active	NO

Name :

Mr. Irshad Ahmed Mecca

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600 034, Tamilnadu, India

Date of Birth/Age :

17.08.1968

Date of Appointment :

01.01.2000

DIN No.:

00013774

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	U19201TN1992PTC022110	RIVIERA SHOES PRIVATE LIMITED	Director	31/01/1992	31/01/1992	-	Strike off	NO
2	U33209TN1999PTC043409	FARIDA NEWLINE STUDIO PRIVATE LIMITED	Director	26/10/1999	26/10/1999	-	Amalgamated	NO
3	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
4	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
5	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19/06/2001	19/06/2001	-	Active	NO
6	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26/05/2004	26/05/2004	-	Active	NO
7	U91110TN2004PTC053638	Consortium of Shoes and Products Manufacturers Private Limited	Director	05/07/2004	05/07/2004	-	Active	NO
8	U19201TN2004PTC053703	ASTON SHOES PRIVATE LIMITED	Director	12/07/2004	12/07/2004	-	Active	NO
9	U19112TN2005PTC055152	ARCOT SOLES PRIVATE LIMITED	Director	13/01/2005	13/01/2005	-	Active	NO
10	U74210TN2005PTC055311	FARIDA ENGINEERING SERVICES PRIVATE LIMITED	Director	07/02/2005	07/02/2005	-	Amalgamated	NO
11	U74140TN2005PTC055310	FARIDA MANAGEMENT SERVICES PRIVATE LIMITED	Director	07/02/2005	07/02/2005	-	Strike off	NO
12	U19116TN2005PTC055503	FARIDA XIEZHAN MOULDS PRIVATE LIMITED	Director	28/02/2005	28/02/2005	-	Amalgamated	NO
13	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
14	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24/02/2006	24/02/2006	-	Active	NO
15	U19201TN2004PTC053247	TOP FONDI SOLES (INDIA) PRIVATE LIMITED	Director	21/08/2007	18/06/2007	-	Amalgamated	NO
16	U18209TN1992PTC022111	FARIDA LEATHERWARE PRIVATE LIMITED	Additional director	25/11/2015	25/11/2015	-	Active	NO
17	AAB-9798	JUPITER PROPERTIES & BUILDERS (INDIA) LLP	Designated Partner	03/01/2014	03/01/2014	-	Active	NO

Name :

Mr. Ashfaque Ahmed Mecca

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600 034, Tamilnadu, India

Date of Birth/Age :

04.05.1973

Date of Appointment :

01.01.2000

DIN No.:

00013807

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	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
2	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
3	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19/06/2001	19/06/2001	-	Active	NO
4	U19201TN2003PTC050177	STANFORD SHOES PRIVATE LIMITED	Director	13/01/2003	13/01/2003	-	Amalgamated	NO
5	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26/05/2004	26/05/2004	-	Active	NO
6	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
7	U19200TN2008PTC067408	PAALAR SHOES PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
8	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Whole-time director	01/10/2011	01/10/2011	-	Active	NO
9	U19113WB1994PTC062984	TITAN LEATHERS PRIVATE LIMITED	Additional director	07/09/2015	07/09/2015	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 01.08.2014

Names of Shareholders	No. of Shares
M Rafeeque Ahmed	125
M Israr Ahmed	35
M Irshad Ahmed	175
M Rasheed Ahmed	50
Farida Holdings Private Limited, India	50365
Farida Classic Shoes Private Limited, India	36910
Total	87660

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	99.56
Directors or relatives of Directors	0.44
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the manufacture and export of leather footwear and other accessories. (Registered Activity)

Products :

Item Code No. (ITC Code)	Product Description
64032011	Footwear with all leather, closed toe for men

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS NOT AVIALBLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Rupee term loans from banks	2.477	28.651
Total	2.477	28.651

Auditors :
Name :	Akber Rifa and Company Chartered Accountants
Address :	Flat No.1a, The Kermite KP Apartments, Door No.1, V Block, 6th Main Road, Anna Nagar, Chennai 600040, Tamilnadu, India
PAN No.:	AAUFA5645D
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Farida Holdings Private Limited CIN No.: U65993TN1985PTC011781
Associates :	Paalar Shoes Private Limited CIN No. : U19200TN2008PTC067408 Aston Shoes Private Limited CIN No. : U19201TN2004PTC053703 Delta Shoes Private Limited CIN No. : U18209TN1987PTC014919 Farida Classic Shoes Private Limited CIN No.: U18209TN1981PTC008805 Farida Leatherware Private Limited CIN No.: U18209TN1992PTC022111 Jafra Insoles India Private Limited CIN No.: U19112TN2006PTC058989 Arcot Soles Private Limited CIN No.: U19112TN2005PTC055152 Kenmore Shoes Private Limited CIN No.: U19201KA2001PTC029147 Farida Prime Tannery Private Limited CIN No.: U19201TN2005PTC055925 India Shoes Exports Private Limited CIN No.:U19201TN1998PTC040339 Mercury Shoes Private Limited CIN No.:U22121TN1994PTC029120

CAPITAL STRUCTURE

As on 01.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
270,000	Equity Shares	Rs.100/- each	Rs.27.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
87,660	Equity Shares	Rs.100/- each	Rs.8.766 million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	8.766	8.766	8.766
(b) Reserves & Surplus	388.086	318.745	278.641
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	396.852	327.511	287.407
(3) Deferred Government Grants	0.000	0.000	21.300
(4) Non-Current Liabilities
(a) long-term borrowings	36.716	72.624	136.795
(b) Deferred tax liabilities (Net)	22.396	21.873	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	59.112	94.497	136.795
(5) Current Liabilities
(a) Short term borrowings	619.876	763.799	734.741
(b) Trade payables	398.428	453.999	482.744
(c) Other current liabilities	2.638	5.083	4.045
(d) Short-term provisions	48.926	36.017	49.065
Total Current Liabilities (4)	1069.868	1258.898	1270.595
TOTAL	1525.832	1680.906	1716.097
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	267.979	271.346	294.466
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	82.845	87.983	88.750
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.287	2.130	2.859
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	352.111	361.459	386.075
(2) Current assets
(a) Current investments	1.550	1.550	1.550
(b) Inventories	533.780	724.955	758.762
(c) Trade receivables	198.779	207.946	171.509
(d) Cash and cash equivalents	11.771	8.781	8.661
(e) Short-term loans and advances	295.444	255.752	323.252
(f) Other current assets	132.397	120.463	66.288
Total Current Assets	1173.721	1319.447	1330.022
TOTAL	1525.832	1680.906	1716.097

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	3251.346	2165.090	2239.253
		Other Income	408.237	320.684	247.203
		TOTAL	3659.583	2485.774	2486.456
Less	EXPENSES
		TOTAL	3569.433	2431.331	2447.181
	PROFIT/ (LOSS) BEFORE TAX		90.150	54.443	39.275
Less	TAX (H)		20.809	14.339	8.258
	PROFIT/ (LOSS) AFTER TAX		69.341	40.104	31.017
	EARNINGS IN FOREIGN CURRENCY
	Export Sales		3101.792	2005.572	2197.237
	Total		3101.792	2005.572	2197.237
	Earnings / (Loss) Per Share (Rs.)		791.02	457.49	353.83

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	197.326	33.329	0.000

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.13	1.85	1.39
Return on Total Assets (PBT/Total Assets}	(%)	6.25	3.42	2.41
Return on Investment (ROI) (PBT/Networth)		0.23	0.17	0.14
Debt Equity Ratio (Total Debt /Networth)		1.65	2.55	3.03
Current Ratio (Current Asset/Current Liability)		1.10	1.05	1.05

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	8.766	8.766	8.766
Reserves & Surplus	278.641	318.745	388.086
Net worth	287.407	327.511	396.852
long-term borrowings	136.795	72.624	36.716
Short term borrowings	734.741	763.799	619.876
Total borrowings	871.536	836.423	656.592
Debt/Equity ratio	3.032	2.554	1.655

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2239.253	2165.090	3251.346
		(3.312)	50.171

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2239.253	2165.090	3251.346
Profit	31.017	40.104	69.341
	1.39%	1.85%	2.13%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of establishment	Yes
2]	Constitution of the entity Incorporation details	Yes
3]	Locality of the entity	Yes
4]	Premises details	No
5]	Buyer visit details	--
6]	Contact numbers	Yes
7]	Name of the person contacted	No
8]	Designation of contact person	No
9]	Promoter’s background	Yes
10]	Date of Birth of Proprietor / Partners / Directors	Yes
11]	Pan Card No. of Proprietor / Partners	No
12]	Voter Id Card No. of Proprietor / Partners	No
13]	Type of business	Yes
14]	Line of Business	Yes
15]	Export/import details (if applicable)	No
16]	No. of employees	No
17]	Details of sister concerns	Yes
18]	Major suppliers	No
19]	Major customers	No
20]	Banking Details	No
21]	Banking facility details	Yes
22]	Conduct of the banking account	--
23]	Financials, if provided	Yes
24]	Capital in the business	Yes
25]	Last accounts filed at ROC, if applicable	No
26]	Turnover of firm for last three years	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	No
29]	Profitability for last three years	Yes
30]	Major shareholders, if available	Yes
31]	External Agency Rating, if available	Yes
32]	Litigations that the firm/promoter involved in	Yes
33]	Market information	--
34]	Payments terms	No
35]	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS:

MADRAS HIGH COURT CASE STATUS INFORMATION SYSTEM
Case Status :	Pending
Status of :	APPLICATION 5233 Of 2015
Litigants :	SOUTHERN ROOFINGS PRIVATE LIMITED Vs. FARIDA SHOES PRIVATE LIMITED
Pet's Adv :	PL NARAYANAN
Res's Adv :	ZAFARULLAH KHAN
Last Date of Hearing :	--
Next / Final Date of Hearing :	Friday, December 11, 2015
Case Updated On :	Monday, December 14, 2015
Category :	---

COMPANY INFORMATION

Subject is a Private Limited Company domiciled in India and incorporated under the provisions of the companies Act, 1956. The Company is engaged in the manufacturer and export of leather footwear and other accessories.

(Rs. In Million)

UNSECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Term loans from others	34.016	0.000
Deposits	0.000	43.966
Loans and advances from related parties	0.000	0.007
Other loans and advances	0.223	0.000
Short Term Borrowing
Rupee term loans from banks	619.876	763.799
Total	654.115	807.772

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90284805	28/02/2007 *	689,500,000.00	State Bank of India	Leather International Branch, MVJ Towers, 177/1, Poonamallee High Road, Chennai, Tamilnadu - 600010, INDIA	-
2	90284800	21/12/2004	49,000,000.00	State Bank of India	Leather International Branch, MVJ Towers, 177/1, Poonamallee High Road, Chennai, Tamilnadu - 600010, INDIA	-
3	90284787	27/03/2004	54,000,000.00	State Bank of India	Leather International Branch, MVJ Towers, 177/1, Poonamallee High Road, Chennai, Tamilnadu - 600010, INDIA	-
4	90284967	14/12/2007 *	1,022,900,000.00	State Bank of India	Leather International Branch, MVJ Towers, 177/1, Poonamallee High Road, Chennai, Tamilnadu - 600010, INDIA	A33255563
5	90290000	06/07/2009 *	2,007,300,000.00	State Bank of India	Leather International Branch, MVJ Towers, 177/1, Poonamallee High Road, Chennai, Tamilnadu - 600010, INDIA	A68062132
6	90286216	14/03/1987 *	3,982,500.00	STATE BANK OF INDIA	OVERSEASD BRANCH, 39;RAJAJI SALAI, MADRAS, Tamilnadu - 600001, INDIA	-
7	90284927	16/05/1986 *	2,682,500.00	STATE BANK OF INDIA	OVERSEASD BRANCH, 39;RAJAJI SALAI, MADRAS, Tamilnadu - 600001, INDIA	-
8	90284918	24/03/1986 *	2,390,000.00	STATE BANK OF INDIA	OVERSEASD BRANCH, 39;RAJAJI SALAI, MADRAS, Tamilnadu - 600001, INDIA	-
9	90284911	09/07/1985	3,400,000.00	STATE BANK OF INDIA	OVERSEASD BRANCH, 39;RAJAJI SALAI, MADRAS, Tamilnadu - 600001, INDIA	-
10	90284879	09/07/1982	1,425,000.00	STATE BANK OF INDIA	OVERSEASD BRANCH, 39;RAJAJI SALAI, MADRAS, Tamilnadu - 600001, INDIA	-

* Date of charge modification

FIXED ASSETS

• Land
• Building
• Plant and machinery
• Electrical fittings
• Furniture and fittings
• Other office equipments
• Computers
• Vehicles

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.66.78
UK Pound	1	Rs.101.10
Euro	1	Rs.73.10

INFORMATION DETAILS

Analysis Done by :	KIN
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--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	YES
--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.