MIRA INFORM REPORT

Report No. :	305809
Report Date :	11.01.2015

IDENTIFICATION DETAILS

Name :	SAHJANAND TEXTILE
Registered Office :	Plot No 08, Gate No. 59, Navpada, Nandurbar – 425418, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Year of establishment :	2013
Capital Investment / Paid-up Capital :	Rs. 0.939 Million
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	BOWPP3226C
Legal Form :	Sole Proprietary Concern
Line of Business :	Trader of grey clothes.
No. of Employees :	3 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established proprietorship concern having satisfactory track. Mr. Mayank Patel, the proprietor provided information and claimed that the entity was established during financial year 2012 and the proprietor Mr. Mayank himself had started carrying out the activities on individual basis, whereas during financial year 2013 Mr. Mayank registered the entity as a proprietorship concern and has reported on acceptable revenue base during financial year 2014. Moreover, the concern is engaged into trading whereas, has forayed into manufacturing, which will be commenced from 2015. However, trade relations are fair. Business is active. Payment terms are reported as usually correct. The concern 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 – 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

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. Mayank Patel
Designation :	Proprietor
Contact No.:	91-9016604815
Date :	03.02.2015

LOCATIONS

Registered Office/ Factory :	Plot No 08, Gate No. 59, Navpada, Nandurbar – 425418, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9687777577 (Mr. Girish) 91-9016604815 (Mr. Mayank Patel) 91-9016673733 (Mr. Chetan)
Fax No.:	Not Available
E-Mail :	mayankpatelsurat@gmail.com girishpatel707@gmail.com
Branch Office :	2030 WTC, Ring Road, Surat, Gujarat, India

SOLE PROPRIETOR

Name :	Mr. Mayank Patel
Designation :	Proprietor
Address :	10, Jalaram Nagar – 3, Opposite Neminath Soceity, Dumbhal, Surat – 395010, Gujarat, India
E-Mail :	vinaymaster.ca@gmail.com

BUSINESS DETAILS

Line of Business :	Trader of grey clothes.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Dolphin Fabrics
Name of the Person :	Mr. Mittal Bhai (Proprietor)
Contact No.:	91-9913327921
Since How Long Known :	2 Years
Experience :	Excellent
Maximum Limit Dealt :	Rs. 3.000 Millions (Approximately)
Remark :	They gave us positive response about subject company. They are satisfied with their payment behavior.

Reference :	Agarwal Syntetices
Name of the Person :	Mr. Hemant
Contact No.:	91-9173010577
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

Customers :

Reference :	Tashvi Fabrics
Name of the Person :	Kenil Patel (Proprietor)
Contact No.:	91-9909155593
Since How Long Known :	2 Years
Experience :	Excellent
Maximum Limit Dealt :	Rs. 3.000 Millions (Approximately)
Remark :	They gave us positive response about subject company they are satisfied with their product quality and delivery behavior.

Reference :	Shree Jagdamba Textiles
Name of the Person :	Mr. Dinesh
Contact No.:	91-9825204189
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

No. of Employees :

3 (Approximately)

Bankers :

Banker Name	Bank of India
Branch Address	Churchgate Branch, Mumbai, 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

• Axis Bank

Auditors :
Name :	Modh and Company Chartered Accountants
Address :	Surat, Gujarat, India
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Hanuman Textile Address : Plot no.2, Gate No, 59, Mavpada, Nandurbar – 425418, Maharashtra, India Maa Bahuchar Enterprises Address : Plot No.7, Gate No. 59, Navpada, Nadurbar – 425418, Maharashtra, India

CAPITAL STRUCTURE

AS ON 31.03.2014

Capital Investment :
Owned :	Rs. 0.939 Million
Borrowed :	--
Total :	Rs. 0.939 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014
SHAREHOLDERS FUNDS
1] Share Capital		0.939
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.939
LOAN FUNDS
1] Secured Loans		0.285
2] Unsecured Loans		0.204
TOTAL BORROWING		0.489
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.428
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.413
Capital work-in-progress		0.000
INVESTMENT		0.050
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.853
	Sundry Debtors	0.000
	Cash & Bank Balances	0.020
	Other Current Assets	0.000
	Loans & Advances	0.097
Total Current Assets		0.970
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.005
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.005
Net Current Assets		0.965
MISCELLANEOUS EXPENSES		0.000
TOTAL		1.428

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Income	13.513
		Other Income	0.000
		TOTAL	13.513
Less	EXPENSES
		cost of goods sold	12.885
		Audit Fees	0.004
		Account Fees	0.003
		Car loan expenses	0.000
		Bank Charges	0.002
		Conveyance Expenses	0.060
		General Expenses	0.032
		Interest on car loan	0.050
		Legal fees	0.001
		Mobile Expenses	0.008
		Office Expenses	0.007
		Salary	0.036
		Stationery Expenses	0.004
		Vehicle Running Expenses	0.000
		Travelling Expenses	0.009
		TOTAL	13.101
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.412
Less/ Add	DEPRECIATION/ AMORTISATION		0.074
	NET PROFIT		0.338

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin PAT / Sales	(%)	2.50
Return on Total Assets (PBT/Total Assets}	(%)	23.67
Return on Investment (ROI) (PBT/Networth)		0.36
Debt Equity Ratio (Total Debt/Networth)		0.51
Current Ratio (Current Asset/Current Liability)		194.00

PERSONAL BALANCE SHEET

MR. MAYANK PATEL (PROPRIETOR)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Share Capital		0.732	0.464
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.732	0.464
LOAN FUNDS
1] Secured Loans		0.393	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.393	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		1.125	0.464
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.486	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		0.050	0.050
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.333	0.109
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.160	0.208
	Other Current Assets	0.000	0.000
	Loans & Advances	0.096	0.097
Total Current Assets		0.589	0.414
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000
	Other Current Liabilities	0.000	0.000
	Provisions	0.000	0.000
Total Current Liabilities		0.000	0.000
Net Current Assets		0.589	0.414
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		1.125	0.464

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Income	2.693	1.564
		Other Income	0.000	0.000
		TOTAL	2.693	1.564
Less	EXPENSES
		cost of goods sold	2.247	1.300
		Audit Fees	0.000	0.000
		Account Fees	0.002	0.003
		Car loan expenses	0.006	0.000
		Bank Charges	0.000	0.000
		Conveyance Expenses	0.009	0.008
		General Expenses	0.018	0.014
		Interest on car loan	0.000	0.000
		Legal fees	0.000	0.000
		Mobile Expenses	0.007	0.007
		Office Expenses	0.000	0.000
		Salary	0.024	0.024
		Stationery Expenses	0.002	0.001
		Vehicle Running Expenses	0.002	0.000
		Travelling Expenses	0.000	0.000
		TOTAL	2.317	1.357
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.376	0.207
Less/ Add	DEPRECIATION/ AMORTISATION		0.040	0.000
	NET PROFIT		0.336	0.207

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	12.47	0.13
Return on Total Assets (PBT/Total Assets}	(%)	29.87	44.61
Return on Investment (ROI) (PBT/Networth)		0.46	0.44
Debt Equity Ratio (Total Debt/Networth)		0.54	0.00
Current Ratio (Current Asset/Current Liability)		0.00	0.00

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	No
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one year	Yes
12]	Profitability for last one year	Yes
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	Yes
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	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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

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. 61.74
UK Pound	1	Rs. 94.65
Euro	1	Rs. 70.79

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SUB
Report Prepared by :	JYO

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
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--CREDIT LINES	1~10	5
--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		43

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.