MIRA INFORM REPORT

Report No. :	329791
Report Date :	02.07.2015

IDENTIFICATION DETAILS

Name :	CORALBELLS COTSPIN PRIVATE LIMITED

Registered Office :	B-015, Vikas Centre, S.V. Road, Santacruz (West), Mumbai – 400 055, Maharashtra
Tel. No.:	91-22-42766666

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	22.02.2013

Com. Reg. No.:	11-240695

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

CIN No.: [Company Identification No.]	U17291MH2013PTC240695

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 :	Manufacturing of Textiles.

No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

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 :	Unknown

Litigation :	Clear

Comments :	Subject is a relatively new company having moderate track record. Even though the company was incorporated during 2013 the company is yet to commence with its commercial operation. Mr. Dinesh Yadav, Accounts Manager provided general information and also claimed that the company will start its business activity from September 2015. Payment terms are unknown. The company can be considered for business dealings on a 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Dinesh Yadav
Designation :	Accounts Manager
Contact No.:	91-22-42766666
Date :	01.07.2015

LOCATIONS

Registered Office :	B-015, Vikas Centre, S.V. Road, Santacruz (West), Mumbai – 400 055, Maharashtra, India
Tel. No.:	91-22-42766666
Fax No.:	Not Available
E-Mail :	cs@deesantex.in
Location :	Owned
Locality :	Commercial

Factory :	Located at: · Shirpur, Maharashtra

DIRECTORS

AS ON 30.09.2014

Name :

Ms. Ketki Mukesh Patel

Designation :

Director

Address :

Chintan Bunglow, Nutan Laxmi CHS, 9^th Road, JVPD Scheme, Vile Parle, Mumbai – 400 049, Maharashtra, India

Date of Birth/Age :

21.05.1958

Date of Appointment :

22.02.2013

DIN No.:

00488522

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	U65950MH1994PTC080727	MEHA TRADING PRIVATE LIMITED	Director	13/03/2002	13/03/2002	-	Active	NO
2	U18101MH2004PTC145334	SHIRPUR TEX FAB PRIVATE LIMITED	Director	25/03/2004	25/03/2004	05/10/2010	Active	NO
3	U17120MH2004PTC148905	PADMAVATI GARMENTS PRIVATE LIMITED	Director	30/09/2004	30/09/2004	-	Active	NO
4	U17291MH2007PTC167893	SANKALP TEXTILES PRIVATE LIMITED	Director	15/02/2007	15/02/2007	-	Active	NO
5	U17200MH2007PTC169431	KRUSHNA COTEX PRIVATE LIMITED	Director	27/11/2007	27/11/2007	-	Active	NO
6	U17290MH2010PTC198354	AADHAR COTTONS PRIVATE LIMITED	Director	04/01/2010	04/01/2010	-	Active	NO
7	U17120MH2010PTC200010	MEHA KNIT TEX PRIVATE LIMITED	Director	11/02/2010	11/02/2010	-	Active	NO
8	U17200MH2011PTC212366	REDSTONE TEXTILES PRIVATE LIMITED	Director	14/01/2011	14/01/2011	-	Active	NO
9	U17291MH2011PTC219261	GANGOTRI COTEX PRIVATE LIMITED	Director	29/06/2011	29/06/2011	-	Active	NO
10	U17291MH2011PTC222142	VALMIKI TEXTILES PRIVATE LIMITED	Director	29/09/2012	20/09/2011	-	Active	NO
11	L70120MH1985PLC037017	AUTORIDERS INTERNATIONAL LIMITED	Additional director	06/10/2011	06/10/2011	-	Active	NO
12	U17200MH2012PTC227665	OMKARA TEXFAB PRIVATE LIMITED	Director	05/03/2012	05/03/2012	-	Active	NO
13	U17110MH2012PTC230692	LAXMI WEAVING PRIVATE LIMITED	Director	07/05/2012	07/05/2012	-	Active	NO
14	U17291MH2012PTC238273	SAKSHI COTEX PRIVATE LIMITED	Director	26/11/2012	26/11/2012	-	Active	NO
15	U17291MH2012PTC238612	IVY WEAVING PRIVATE LIMITED	Director	08/12/2012	08/12/2012	-	Active	NO
16	U17291MH2013PTC240695	CORALBELLS COTSPIN PRIVATE LIMITED	Director	22/02/2013	22/02/2013	-	Active	NO
17	U17291MH2013PTC243825	MANAS COTEX PRIVATE LIMITED	Director	30/05/2013	30/05/2013	-	Active	NO
18	U17291MH2007PTC167841	DEESAN COTEX PRIVATE LIMITED	Director	30/09/2013	02/08/2013	-	Active	NO
19	U17299MH2007PTC168285	JANAK TEXFAB PRIVATE LIMITED	Director	30/09/2013	03/08/2013	-	Active	NO
20	U17120MH2005PTC150927	SANSKRITI TEX FAB PRIVATE LIMITED	Director	30/09/2013	09/08/2013	-	Active	NO
21	U17291MH2013PTC247594	ANGIRAS TEXTILES PRIVATE LIMITED	Director	28/08/2013	28/08/2013	-	Active	NO

Name :

Mr. Swapnil Mahendrakumar Mandore

Designation :

Director

Address :

236, Navi Peth, Jalgaon – 425 001, Maharashtra, India

Date of Birth/Age :

10.04.1983

Date of Appointment :

22.02.2013

DIN No.:

03040399

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	U17120MH2010PTC209361	SRI BHAGIRATH COTSPIN PRIVATE LIMITED	Director	22/10/2010	22/10/2010	-	Active	NO
2	U17291MH2011PTC216612	HARI COTSPIN PRIVATE LIMITED	Director	25/04/2011	25/04/2011	18/03/2014	Active	NO
3	U17200MH2012PTC237937	LILAC TEXTILES PRIVATE LIMITED	Director	15/11/2012	15/11/2012	-	Active	NO
4	U17299MH2012PTC238853	ORCHID COTEX PRIVATE LIMITED	Director	15/12/2012	15/12/2012	-	Active	NO
5	U17299MH2012PTC238852	LAVENDER COTSPIN PRIVATE LIMITED	Director	15/12/2012	15/12/2012	-	Active	NO
6	U17291MH2013PTC240695	CORALBELLS COTSPIN PRIVATE LIMITED	Director	22/02/2013	22/02/2013	-	Active	NO
7	U17291MH2013PTC241685	PRIMROSE COTEX PRIVATE LIMITED	Director	03/04/2013	03/04/2013	-	Active	NO
8	U17120MH2013PTC244373	INDUMOTI TEXFAB PRIVATE LIMITED	Director	12/06/2013	12/06/2013	-	Active	NO
9	U45400MH2013PTC247805	SHRI SIDHALAXMI PLOTTERS AND STRUCTURES PRIVATE LIMITED	Director	03/09/2013	03/09/2013	-	Active	NO
10	U17291MH2013PTC248982	AVANI TEXFAB PRIVATE LIMITED	Director	08/10/2013	08/10/2013	-	Active	NO
11	U17120MH2014PTC256669	MARIGOLD FABRICS PRIVATE LIMITED	Director	28/07/2014	28/07/2014	-	Active	NO
12	U17290MH2014PTC258333	BHAGIRATH SIZING AND WARPING PRIVATE LIMITED	Director	25/09/2014	25/09/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Dinesh Yadav
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Ketki Mukesh Patel	3500	35.00
Swapnil Mahendrakumar Mandore	2000	20.00
Anurag Ramchandra Sharma	1000	10.00
Alka Hemanshu Desai	3500	35.00
Total	10000	100.00

AS ON 30.09.2014

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Textiles.

Products :	Textile

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Advance Payment and Cheque

Purchasing :	Advance Payment and Cheque

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Krushna Cotex Private Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	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 :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

15 (Approximately)

Bankers :

Banker Name	Dena Bank
Branch Address	Vile Parle (East) Branch, Krishna Bhavan, 67, Nehru Road, Vile parle (East), Mumbai – 400 057, 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

Banking Relations :	--

Auditors :
Name :	Shrikesh V. Rathi and Company Chartered Accountants
Address :	“Kishor Kunj”, Marwadi Lane, Shirpur, District Dhule – 425 405, Maharashtra, India
Tel. No.:	91-2563-255005
Mobile No.:	91-9422791653
E-Mail :	vmrathi555@gmail.com
Income-tax PAN of auditor or auditor's firm :	AJHPR5874R

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 30.09.2014

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

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

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

(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) Long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	0.000	0.007
(d) Short-term provisions	0.006	0.003
Total Current Liabilities (4)	0.006	0.010

TOTAL	0.106	0.110

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	0.000	0.000

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	0.086	0.100
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.020	0.010
Total Current Assets	0.106	0.110

TOTAL	0.106	0.110

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

Current Maturities of Long term debt

Cash generated from operations

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013
Debt Equity Ratio (Total Debt /Networth)	0.00	0.00

Current Ratio (Current Asset/Current Liability)	17.67	11.00

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100
Reserves & Surplus	0.000	0.000
Money received against share warrants	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	0.100	0.100

Long-term borrowings	0.000	0.000
Short term borrowings	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

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	Yes
8	Designation of contact person	Yes
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	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	No
20	Banking Details	Yes
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	Yes
26	Turnover of firm for last three years	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	No
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10559778	30/01/2015 *	40,400,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67, NEHRU ROAD, VILE PARLE (EAST), MUMBAI – 400 057, MAHARASHTRA, INDIA	C54303151

* 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 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.63.62
UK Pound	1	Rs.99.89
Euro	1	Rs.70.77

INFORMATION DETAILS

Information Gathered by :	MNJ

Analysis Done by :	DIV

Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	-
--CREDIT LINES	1~10	-
--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		11

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

INDEX OF CHARGES:

Unit