MIRA INFORM REPORT

Report No. :	309784
Report Date :	26.02.2015

IDENTIFICATION DETAILS

Name :	ARTH TRADING PRIVATE LIMITED
Registered Office :	309, Third Floor, Jalaram Complex, Gita Mandir Road, Ahmedabad – 380022, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.08.1986
Com. Reg. No.:	04-008849
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U55909GJ1986PTC008849
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	AHMA00131F
PAN No.: [Permanent Account No.]	AAACA9722E
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in Fabrics.
No. of Employees :	2 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

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 :	Slow and delayed
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has incurred huge accumulated losses which has eroded net worth of the company. However, management has reported low profitability for the financial year 2013-14 unlike loss in earlier years. Business is active. Payment terms are reported to be slow and delayed. The company can be considered for business dealings on safe and secured 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

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. Bhavin
Designation :	Accounts Manager
Contact No.:	91-79-67777017
Date :	26.02.2015

LOCATIONS

Registered Office :	309, Third Floor, Jalaram Complex, Gita Mandir Road, Ahmedabad – 380022, Gujarat, India
Tel. No.:	91-79-25320275 / 67777017
Fax No.:	Not Available
E-Mail :	arthtrading@rediffmail.com
Area :	1500 Sq. Ft
Location :	Owned

DIRECTORS

As on 25.09.2014

Name :

Mr. Harish Gunvantray Setalvad

Designation :

Director

Address :

N-4, Swastik Apartment,, Narayanagar Road, Ahmedabad - 380007, Gujarat, India

Date of Birth/Age :

29.07.1946

Date of Appointment :

05.12.2009

DIN No.:

00168606

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	U17299GJ2000PTC038340	ABHRA ENTERPRISES PRIVATE LIMITED	Director	18/12/2001	18/12/2001	04/12/2009	Active	NO
2	U55909GJ1986PTC008849	ARTH TRADING PRIVATE LIMITED	Director	05/12/2009	05/12/2009	-	Active	NO
3	U67120GJ1998PLC034784	MANSAROVAR FINCAP LIMITED	Director	31/08/2010	05/12/2009	-	Active	NO

Name :

Mr. Maganbhai Bhavanbhai Patel

Designation :

Director

Address :

105, Purvadeep Society, Near CTM, N. H. Highway No. 8, Amraiwadi, Ahmedabad - 380026, Gujarat, India

Date of Birth/Age :

17.10.1952

Date of Appointment :

05.01.2009

DIN No.:

02455357

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	U65910GJ1982PTC005176	AKSHAT HOLDINGS PRIVATE LIMITED	Additional director	24/11/2008	24/11/2008	-	Strike off	NO
2	U29190GJ1980PTC003800	NACHMO HUMIDIFIERS PRIVATE LIMITED	Director	30/09/2009	05/01/2009	-	Active	NO
3	U55909GJ1986PTC008849	ARTH TRADING PRIVATE LIMITED	Director	30/09/2009	05/01/2009	-	Active	NO
4	U67120GJ1998PLC034785	VAIKUNTH FINVEST LIMITED	Additional director	03/11/2010	03/11/2010	21/02/2011	Active	NO
5	U18109GJ1996PTC030701	ANSHUL TRADEX PRIVATE LIMITED	Director	21/09/2013	10/07/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Bhavin
Designation :	Accounts Manager

MAJOR SHAREHOLDERS

As on 25.09.2014

Names of Shareholders	No. of Shares
Bhupendra M. Shah	1
Navendu N. Yajnik	1
Harish Gunvantray Setalvad	4999
Maganbhai Bhavanbhai Patel	4999
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on 25.09.2014

Category	Percentage
Directors or relatives of Directors	99.98
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading in Fabrics.
Products :	Fabrics
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit (30 Days, 60 Days and 90 Days)
Purchasing :	Cash and Credit (30 Days, 60 Days and 90 Days)

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
Remark :	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
Remark :	Not Divulged

No. of Employees :

2 (Approximately)

Bankers :

Banker Name	Bank of India
Branch Address	Ellisbridge Branch, Ahmedabad, Gujarat, 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

Facilities :

--

Auditors :
Name :	Dhirubhai Shah and Doshi Chartered Accountants
Address :	4th Floor, Aditya Building, Near Sardar Patel Seva, Samaj, Mithakhali Six Roads, Ellisbridge, Ahmedabad – 380006, Gujarat, India
PAN No.:	AABFD1936H
Memberships :	--
Collaborators :	--
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

As on 25.09.2014

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 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	0.100	0.100	0.100
(b) Reserves & Surplus	(9.164)	(9.744)	(9.138)
(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)	(9.064)	(9.644)	(9.038)
(3) Non-Current Liabilities
(a) long-term borrowings	11.136	10.235	9.339
(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)	11.136	10.235	9.339
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	83.639	76.345	0.042
(c) Other current liabilities	0.102	0.162	0.000
(d) Short-term provisions	0.142	0.000	0.000
Total Current Liabilities (4)	83.883	76.507	0.042
TOTAL	85.955	77.098	0.343
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.062	0.075	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	0.046	0.046	0.046
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.341	0.016	0.022
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.449	0.137	0.068
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	35.103	76.218	0.000
(d) Cash and cash equivalents	50.255	0.631	0.275
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.148	0.112	0.000
Total Current Assets	85.506	76.961	0.275
TOTAL	85.955	77.098	0.343

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		168.961	0.000
		Other Income		0.001	0.167
		TOTAL	283.517	168.962	0.167
Less	EXPENSES		282.795	169.568	0.623
	PROFIT/(LOSS) BEFORE TAX		0.722	(0.606)	(0.456)
Less	TAX		0.142	0.000	0.000
	PROFIT/(LOSS) AFTER TAX		0.580	(0.606)	(0.456)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(9.745)	(9.139)	(8.683)
	BALANCE CARRIED TO THE B/S		(9.165)	(9.745)	(9.139)
	Earnings / (Loss) Per Share (Rs.)		58.02	(60.60)	(45.56)

Expected Sales (2014-2014): Rs.350.000 Millions

The above information has been parted by Mr. Bhavin

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	NA	(0.36)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.84	(0.79)	(153.54)
Return on Investment (ROI) (PBT/Networth)		(0.08)	0.06	0.05
Debt Equity Ratio (Total Debt /Networth)		(1.23)	(1.06)	(1.03)
Current Ratio (Current Asset/Current Liability)		1.02	1.01	6.55

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	0.100	0.100	0.100
Reserves & Surplus	(9.138)	(9.744)	(9.164)
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(9.038)	(9.644)	(9.064)
Long Term borrowings	9.339	10.235	11.136
Short Term borrowings	0.000	0.000	0.000
Total borrowings	9.339	10.235	11.136
Debt/Equity ratio	(1.033)	(1.061)	(1.229)

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
Total Income	0.167	168.962	283.517
		101,074.850	67.799

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Total Income	0.167	168.962	283.517
Profit	(0.456)	(0.606)	0.580
	(273.05%)	(0.36%)	0.20%

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	Yes
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	Yes
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)	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

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Loans from body corporate other than related parties	11.136	10.235
Total	11.136	10.235

ACTIVITY

During the year, the company has carried out its business activity in trading of cotton fabrics. The company has posted a turnover of Rs.283.516 Million during the year due to increase in demand of cotton fabrics in domestic textile market. The company has incurred a net profit of Rs.0.580 Million as compared to loss of Rs.0.606 Million of the previous year. Your directors are putting in their best efforts to improve upon the performance of the company and hope to improve in the coming years.

NO CHARGES EXIST FOR THE COMPANY

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.62.05
UK Pound	1	Rs.96.03
Euro	1	Rs.70.43

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	SUC
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION		0
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	1
--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		12

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.