MIRA INFORM REPORT

Report No. :	306475
Report Date :	05.02.2015

IDENTIFICATION DETAILS

Name :	DHRUV COTEX PRIVATE LIMITED

Registered Office :	4A, Vikas Centre, 104 S.V. Road, Santacruz (West), Mumbai-400054, Maharashtra

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	11.01.2011

Com. Reg. No.:	11-212168

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

CIN No.: [Company Identification No.]	U17120MH2011PTC212168

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 Grey Fabric

No. of Employees :	35 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 12000

Status :	Yet to commence its commercial operations

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a company incorporated on January 11, 2011 and its yet to commence its operational activities as per the annual report of FY13. Management has failed to file latest financials for FY14, with the statutory authorities. Mr. Dhiraj Maheshwari an accountant provided information and claimed that the management has commenced its operations form June 2014. However, trade relations seem to be improving. Business is active. Payment terms are unknown. In view of lack of requisite information, the company can be considered for business dealings with great 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

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

Name :	Mr. Dhiraj Maheshwari
Designation :	Accountant
Contact No.:	91-8605659543
Date :	03.02.2015

LOCATIONS

Registered Office :	4A, Vikas Centre, 104 S.V. Road, Santacruz (West), Mumbai-400054, Maharashtra, India
Tel. No.:	91-2242766666
Mobile No.:	91-8605659543
Fax No.:	Not Available
E-Mail :	accounts@dhruv.cotex.in

Factory :	Gat No-30/1 and 30/2 Tande At Post Dahiwad Tal-Shirpur, Dis. Dhule – 425405, Maharashtra, India
Tel. No.:	91-2563-272016

DIRECTORS

As on 30.09.2013

Name :

Utpal Harivallabh Bhayani

Designation :

Director

Address :

12 Madhuvan, 81 Saraswati Road, Santacruz(W), Mumbai, 400054, Maharashtra, India

Date of Birth/Age :

10.10.1953

Date of Appointment :

11.01.2011

DIN No.:

00654039

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	U18101MH2004PTC145334	SHIRPUR TEX FAB PRIVATE LIMITED	Director	25/03/2004	25/03/2004	-	Active	NO
2	U17299MH2007PTC167840	AADITYA TEXTILES PRIVATE LIMITED	Director	13/02/2007	13/02/2007	05/08/2013	Active	NO
3	U17120MH2010PTC199846	Hiral Knit Tex private Limited	Director	08/02/2010	08/02/2010	-	Active	NO
4	U17120MH2010PTC200417	MANDAR TEXFAB PRIVATE LIMITED	Director	25/02/2010	25/02/2010	-	Active	NO
5	U80301MH2010NPL209386	SVKM FOUNDATION	Director	25/10/2010	25/10/2010	-	Active	NO
6	U17299MH2010PTC211446	ZIRCON COTEX PRIVATE LIMITED	Director	27/12/2010	27/12/2010	-	Active	NO
7	U17120MH2011PTC212168	DHRUV COTEX PRIVATE LIMITED	Director	11/01/2011	11/01/2011	-	Active	NO
8	U17291MH2011PTC218057	Vamdev Textiles Private Limited	Director	30/05/2011	30/05/2011	-	Active	NO
9	U17291MH2012PTC227815	SOMDEV TEX FAB PRIVATE LIMITED	Director	07/03/2012	07/03/2012	-	Active	NO
10	U22100MH1995PTC105301	IMAGE PUBLICATIONS PRIVATE LIMITED	Director	01/11/2012	01/11/2012	-	Active	NO
11	U17291MH2012PTC238438	PRANAVA TEXFAB PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO
12	U17120MH2013PTC242107	MOONFLOWER COTEX PRIVATE LIMITED	Director	19/04/2013	19/04/2013	-	Active	NO
13	U17200MH2013PTC243995	BRAHMAPUTRA COTEX PRIVATE LIMITED	Director	04/06/2013	04/06/2013	-	Active	NO

Name :

Alka Hemanshu Desai

Designation :

Director

Address :

Naka No 1, Samor, Shirpur, 425405, Maharashtra, India

Date of Birth/Age :

17.06.1963

Date of Appointment :

11.01.2011

DIN No.:

01912811

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	U17120MH2005PTC150863	CREST TEXTILES PRIVATE LIMITED	Director	28/01/2005	28/01/2005	-	Active	NO
2	U17291MH2007PTC168225	SAMRIDDHI TEXTILES PRIVATE LIMITED	Director	28/02/2007	28/02/2007	-	Active	NO
3	U17120MH2011PTC212168	DHRUV COTEX PRIVATE LIMITED	Director	11/01/2011	11/01/2011	-	Active	NO
4	U17291MH2011PTC212589	GARNET TEXFAB PRIVATE LIMITED	Director	20/01/2011	20/01/2011	-	Active	NO
5	U17291MH2011PTC217852	Maandu Textiles Private Limited	Director	25/05/2011	25/05/2011	-	Active	NO
6	U17291MH2012PTC227821	NAGESHWAR TEXTILE PRIVATE LIMITED	Director	07/03/2012	07/03/2012	-	Active	NO
7	U17120MH2012PTC229384	MAHI TEXTILES PRIVATE LIMITED	Director	10/04/2012	10/04/2012	-	Active	NO
8	U17291MH2012PTC238273	SAKSHI COTEX PRIVATE LIMITED	Director	26/11/2012	26/11/2012	-	Active	NO
9	U17200MH2007PTC169382	KAN TEXTILES PRIVATE LIMITED	Director	30/09/2013	01/08/2013	-	Active	NO
10	U17120MH2004PTC145067	SHIRPUR SYNTHETICS PRIVATE LIMITED	Director	30/09/2013	10/08/2013	-	Active	NO
11	U17120MH2004PTC148906	TARINI GARMENTS PRIVATE LIMITED	Director	26/09/2013	12/08/2013	-	Active	NO
12	U17200MH2013PTC247411	PULAHA TEXTILES PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Dhiraj Maheshwari
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	Percentage
Utpal Harivallabh Bhayani	1000	10.00
Alka Hemanshu Desai	9000	90.00
Total	10000	100.00

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 Grey Fabric

Products :	Grey Fabric

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Cash and Cheque

Purchasing :	Cash and Cheque

PRODUCTION STATUS NOT AVAILABLE

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 :

Wholesalers, 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 :

35 (Approximately)

Bankers :

Banker Name :	Dena Bank
Branch Address :	Vile Parle (East) Branch, Krishna Bhavan, 67,Vile Parle, Mumbai - 400057, Maharashtra, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	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 Accountants
Address :	H. No. Saraf Bazar At.Shirpur, Dhule – 425405, Maharashtra, India
Tel. No.:	91-2563-255005/255141
PAN No.:	AJHPR5874R

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2013

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 Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	0.000	0.000	0.000
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	4.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	4.100	0.100	0.100

(3) Non-Current Liabilities
(a) long-term borrowings	0.038	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	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)	0.038	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	1.523	0.004	0.000
(d) Short-term provisions	0.128	0.006	0.003
Total Current Liabilities (4)	1.651	0.010	0.003

TOTAL	5.789	0.110	0.103

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.000	0.000	0.000

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.092	0.100	0.100
(e) Short-term loans and advances	4.677	0.000	0.000
(f) Other current assets	1.020	0.010	0.003
Total Current Assets	5.789	0.110	0.103

TOTAL	5.789	0.110	0.103

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt /Networth)	0.01	0.00	0.00

Current Ratio (Current Asset/Current Liability)	3.51	11.00	34.33

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	0.000	0.000	0.000
Share Application money pending allotment	4.000	0.000	0.000
Net worth	4.100	0.100	0.100

long-term borrowings	0.000	0.000	0.038
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.038
Debt/Equity ratio	0.000	0.000	0.380

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	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	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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10483438	04/03/2014	16,334,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67, VI LE PARLE, MUMBAI, Maharashtra - 400057, INDIA	B98836190
2	10483394	04/03/2014	18,034,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67,, VI LE PARLE, MUMBAI, Maharashtra - 400057, INDIA	B98825995
3	10483429	04/03/2014	18,034,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67,, VI LE PARLE, MUMBAI, Maharashtra - 400057, INDIA	B98834021
4	10483433	04/03/2014	18,034,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67,, VI LE PARLE, MUMBAI, Maharashtra - 400057, INDIA	B98834476
5	10483434	04/03/2014	18,034,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67,, VI LE PARLE, MUMBAI, Maharashtra - 400057, INDIA	B98835150
6	10483436	04/03/2014	18,034,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67,, VI LE PARLE, MUMBAI, Maharashtra - 400057, INDIA	B98835598
7	10483355	04/03/2014	24,135,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67,, VI LE PARLE, MUMBAI, Maharashtra - 400057, INDIA	B98807571
8	10483359	04/03/2014	24,135,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67,, VI LE PARLE, MUMBAI, Maharashtra - 400057, INDIA	B98808611
9	10483385	04/03/2014	24,135,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67,, VI LE PARLE, MUMBAI, Maharashtra - 400057, INDIA	B98824030
10	10483424	04/03/2014	24,135,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67,, VI LE PARLE, MUMBAI, Maharashtra - 400057, INDIA	B98833270

* 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.61.68
UK Pound	1	Rs.93.53
Euro	1	Rs.70.75

INFORMATION DETAILS

Information Gathered by :	SUB

Analysis Done by :	GAY

Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		26

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