MIRA INFORM REPORT

Report No. :	306594
Report Date :	06.02.2015

IDENTIFICATION DETAILS

Name :	TIRUPUR KNITWEARS EXPORTS PRIVATE LIMITED
Registered Office :	14/68, 1st Main Road, CIT Nagar, Nandanam, Chennai – 600035, Tamilnadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.01.2014
Com. Reg. No.:	18-094444
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U52399TN2014PTC094444
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, trader and importer of knitted garment and all types of readymade garment.
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new company incorporated as on 03.01.2014 and establishing itself gradually. Mr. Prabhu Director provided general information and also confirmed that company commenced its commercial operation from April 2014. The company expects a sizeable turnover from its first year of operation. Business is active. Payment terms are unknown. The company can be considered for business dealing on a fully safe and 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	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. Prabhu
Designation :	Director
Contact No.:	91-9789144344
Date :	04.02.2015

LOCATIONS

Registered Office :	14/68, 1st Main Road, CIT Nagar, Nandanam, Chennai – 600035, Tamilnadu, India
Tel. No.:	Not Available
Mobile No.:	91-9789144344 (Mr. Prabhu) 91-9789155655 (Mr. Iniyag)
Fax No.:	Not Available
E-Mail :	ncrerode@gmail.com
Factory :	216(1), Amman Nagar Near Saradha Idhalaya , Tirupur- 641603, Tamilnadu, India

DIRECTORS

As on 23.09.2014

Name :	Mr. Moorthy Balajiprabhu
Designation :	Director
Address :	E-303, 3rd Floor, Meadows Apartments, Gowthamapuri, V K Road, Peelamedu, Coimbatore – 641004, Tamilnadu, India
Date of Birth/Age :	04.12.1977
Date of Appointment :	03.01.2014
DIN No.:	02171444
Name :	Mr. Barathy Suganthi
Designation :	Director
Address :	E-303, 3rd Floor, Meadows Apartments, Gowthamapuri, V K Road, Peelamedu, Coimbatore – 641004, Tamilnadu, India
Date of Birth/Age :	15.06.1980
Date of Appointment :	24.02.2014
DIN No.:	02954100

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.09.2014

Names of Shareholders	No. of Shares	%age holding
Moorthy Balajiprabhu	5000	50.00
Barathy Suganthi	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 23.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, trader and importer of knitted garment and all types of readymade garment.
Products :	Knitted garment and all types of readymade garment.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Finished Goods
Countries :	Middle East Europe All Asian Countries US
Imports :	Not Divulged
Terms :
Selling :	Cash, Advance Payment and Cheque
Purchasing :	Cash, Advance Payment 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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

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 :

10 (Approximately)

Bankers :

• State Bank of India, Tirupur, Chennai, Tamilnadu, India
• ICICI Bank, Chennai, Tamilnadu, India

Banking Relations :	--
Auditors :
Name :	N C Rajagopal and Company Chartered Accountants
Address :	199 Agraharam Street, Erode – 638001, Tamil Nadu, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFN0572A
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 31.03.2014

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	31.03.2014
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	(0.026)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	0.074
(3) Non-Current Liabilities
(a) long-term borrowings	0.120
(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)	0.120
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.000
(c) Other current liabilities	0.006
(d) Short-term provisions	0.000
Total Current Liabilities (4)	0.006
TOTAL	0.200
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	0.100
Total Current Assets	0.200
TOTAL	0.200

Expected Sales (2014-2015) : Rs.20.000 Millions

The above information has been parted by Mr. Prabhu

KEY RATIOS

PARTICULARS	31.03.2014
Debt Equity Ratio (Total Debt /Networth)	1.62
Current Ratio (Current Asset/Current Liability)	33.33

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	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)	Yes
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

NOTE:

• Registered office of the company has been shifted from Old H – 18, New – 35, Central Avenue, Korattur, Chennai – 600080, Tamilnadu, India to the present address w.e.f. 18.02.2014

• INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

OPERATIONS

The company has not commenced its full-fledged operations. The directors hope that the business activity will be speeded up at a very sooner date. The directors are actively engaged in the day to day affairs of the business and sincerely hope that they can deliver a better performance in the subsequent years.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Millions)
Loan term borrowing
Loan from director B Suganti	0.109
Loan from director Baaji Prabhu	0.011
Total	0.120

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.61.87
UK Pound	1	Rs.94.07
Euro	1	Rs.70.19

INFORMATION DETAILS

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

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.