MIRA INFORM REPORT

Report No. :	333125
Report Date :	24.07.2015

IDENTIFICATION DETAILS

Name :	IVY WEAVING PRIVATE LIMITED
Registered Office :	4A, Vikas Centre, 104 S V Road, Santacruz (West), Mumbai-400054, Maharashtra
Tel. No.:	91-22-42766666
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.12.2012
Com. Reg. No.:	11-238612
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U17291MH2012PTC238612
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMI11509B
PAN No.: [Permanent Account No.]	AADC13578D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Bedsheet, Grey Fabrics, Woven Fabrics and Garments.
No. of Employees :	20 (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 :	Yet to commence it’s business operation
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated on 08^th December 2012, it is yet to commence its business operations. Ms. Sheetal, Account Executive provided general information to us and denied to confirmed date of business commencement of the subject company. As per status in the Registrar of Companies business appears to be active. Payments are reported to be unknown. In view of absence of business operations, the company can be considering for business dealing on safe and secured 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Ms. Sheetal
Designation :	Account Executive
Contact No.:	91-9773311357
Date :	21.07.2015

LOCATIONS

Registered Office :	4A, Vikas Centre, 104 S V Road, Santacruz (West), Mumbai-400054, Maharashtra, India
Tel. No.:	91-22-42766666
Mobile No.:	91-9773311357 (Ms. Sheetal)
Fax No.:	Not Available
E-Mail :	cs@deesantex.in sheetal.paramtex@gmail.com
Factory:	Located at: Shirpur, Nashik, Mumbai, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Ketki Mukesh Patel

Designation :

Director

Address :

Chintan Bunglow, Nutan Laxmi Chs, 9th Road,JVPD Scheme, Vileparle, Mumbai-400049, Maharashtra, India

Date of Birth/Age :

21.05.1958

Date of Appointment :

08.12.2012

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. Dinesh Ganpati Mandore

Designation :

Director

Address :

Plot. No.7., Ayodha Nagar., Jalgaon-425001, Maharashtra, India

Date of Birth/Age :

23.03.1967

Date of Appointment :

08.12.2012

DIN No.:

06411426

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	Company/ LLP Status	Defaulting status
1	U17291MH2012PTC238612	IVY WEAVING PRIVATE LIMITED	Director	08-12-2012	08-12-2012	Active	NO
2	U17120MH2013PTC243846	AYODHYA FABRICS PRIVATE LIMITED	Director	31-05-2013	31-05-2013	Active	NO
3	U17120MH2014PTC256669	MARIGOLD FABRICS PRIVATE LIMITED	Director	28-07-2014	28-07-2014	Active	NO

KEY EXECUTIVES

Name :	Ms. Sheetal
Designation :	Account Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Ketki Patel	3500	35.00
Dinesh Mandore	2000	20.00
Asha Sharma	1000	10.00
Bhupesh Patel	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
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Bedsheet, Grey Fabrics, Woven Fabrics and Garments.
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :	--
Terms :
Selling :	Cash and Credit (30 days and 60 days)
Purchasing :	Cash and Credit (30 days and 60 days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers and Retailers

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

20 (Approximately)

Bankers :

Bank Name:	Dena Bank
Branch:	Vile Parle-(East) Branch, Mumbai, Maharashtra, India
Person Name (with Designation):	Not Divulged
Contact Number:	91-22-26182912 (Ringing)
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Term Loan=Rs. 7.200 Million
Account Operation:	Not Divulged
Remarks:	Not Divulged

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Shrikesh V. Rathi and Company Chartered Accountants
Address :	Kishor Kunj, Marwadi Lane, Shirpur, Dhule-425405, Maharashtra, India
Tel. No.:	91-2562-236435
Mobile No.:	91-9422791653
E-Mail :	vmrathi555@gmail.com
Income-tax PAN of auditor or auditor's firm :	AJHPR5874R
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	· Sunflower Cotex Private Limited · Alyssum Cotspin Private Limited · Orchid Cotex Private Limited

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 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	0.005
(d) Short-term provisions	0.006	0.003
Total Current Liabilities (4)	0.006	0.008
TOTAL	0.106	0.108
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	0.092	0.100
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.014	0.008
Total Current Assets	0.106	0.108
TOTAL	0.106	0.108

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA
Cash Generated from Operations	NA	NA
Net Cash Flow from used in Operations	NA	NA

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013
Debt Equity Ratio (Total Liability/Networth)	0.00	0.00
Current Ratio (Current Asset/Current Liability)	17.67	13.50

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

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	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	No
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	10559787	30/01/2015 *	7,300,000.00	DENA BANK	VILE PARLE (EAST) BRANCH, KRISHNA BHAVAN, 67, NEHRU ROAD, VILEPARLE- EAST, MUMBAI-400057, MAHARASHTRA, INDIA	C54304613

* 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. 63.71
UK Pound	1	Rs. 99.57
Euro	1	Rs. 69.63

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAR
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--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	YES
--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.