MIRA INFORM REPORT

Report No. :	326998
Report Date :	13.06.2015

IDENTIFICATION DETAILS

Name :	PRINCIPLE TRADING PRIVATE LIMITED
Registered Office :	14/2, Old China Bazar Street, Room No.203, Kolkata – 700001, West Bengal
Mobile No.:	91-9830088589 (Mr. Prakash Chandak)
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	03.01.2008
Com. Reg. No.:	21-121393
Capital Investment / Paid-up Capital :	Rs.0.325 Million
CIN No.: [Company Identification No.]	U51109WB2008PTC121393
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 :	Manufacturer and Trader of Textiles, Yarn and Fabrics.
No. of Employees :	8 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Business
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. Management has failed to file the latest financials of FY14, with the statutory authorities. As per available, trade relations seem to be fair. Business is active. Payment terms are reported as slow but correct. The company can be considered for small 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 – 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 :	Mr. Prakash Chandak
Designation :	Chief Executive Officer
Contact No.:	91-9830088589
Date :	12.06.2015

LOCATIONS

Registered Office :	14/2, Old China Bazar Street, Room No.203, Kolkata – 700001, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91-983008859 (Mr. Prakash Chandak)
Fax No.:	Not Available
E-Mail :	Prash1308@yahoo.com
Area :	200 sq. ft.
Location :	Rented

DIRECTORS

AS ON 30.09.2013

Name :	Mrs. Savita Chandak
Designation :	Director
Address :	19 Saltlake City, Sector 1, Bidhanagar, Kolkata – 700064, West Bengal, India
DIN No.:	00766878
Name :	Mr. Sandeep Chandak
Designation :	Director
Address :	5, Circus Range, Kolkata – 700019, West Bengal, India
Date of Appointment :	16.01.2008
DIN No.:	00771522

KEY EXECUTIVES

Name :	Mr. Prakash Chandak
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS

AS ON 30.09.2013

Names of Shareholders	No. of Shares	% of Holding
Savita Chandak	27500	84.62
Sandeep Chandak	5000	15.38
Total	32500	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Textiles, Yarn and Fabrics.
Products :	Textiles Yarn Fabrics
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and credit
Purchasing :	Cash and Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Pujari Multi Yarn
Name of the Person :	Mr. Anil Sharma (Chief Executive Officer)
Contact No.:	91-9830087266
Since How Long Known :	1 Year
Maximum Limit Dealt :	--
Experience :	Payment Behaviour Market Goodwill Good Overall
Remark :	It’s a good company, they pay us on time

Customers :

Company Name :	Rupa and Company
Name of the Person :	Mr. Sanja Sahu (Production Department)
Contact No.:	91-33-30573100
Since How Long Known :	3 Years
Maximum Limit Dealt :	Rs.2.500 Million
Experience :	Product Quality Delivery Behaviour Good Overall
Remark :	He gave few information and then saying no comment.

No. of Employees :

8 (Approximately)

Bankers :

Banker Name :	Catholic Syrian bank
Branch :	Salt Lake Branch
Person Name (With Designation) :	Mr. R. N. Ghosh (Branch Manager)
Contact Number :	91-33-23343250
Name of Account Holder :	Principle Trading private Limited
Account Number :	Not Divulged
Account Since (Date/Year of Account Opening) :	Not Divulged
Average Balance Maintained :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

Auditors :
Name :	Rakesh Kedia and Associates Chartered Accountants
Address :	G-D Laxmi Apartment, 541A, Rabindra Sarani, Kolkata – 700003, West Bengal, India
PAN No.:	AFZPK5513Q
Memberships :	Not Divulged
Collaborators :	Not Divulged
Related Party :	Eastern Textiles Private Limited Astha Business Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital:

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
32500	Equity Shares	Rs.10/- each	Rs.0.325 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.325	0.225	0.225
(b) Reserves & Surplus	1.105	1.102	1.099
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.100	0.100
Total Shareholders’ Funds (1) + (2)	1.430	1.427	1.424
(3) Non-Current Liabilities
(a) long-term borrowings	0.705	0.575	0.575
(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)	0.705	0.575	0.575
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.235	0.313	0.000
(c) Other current liabilities	0.077	0.028	0.028
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	0.312	0.341	0.028
TOTAL	2.447	2.343	2.027
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	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	1.664	1.450	1.450
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1.664	1.450	1.450
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.252	0.323	0.000
(c) Trade receivables	0.113	0.313	0.000
(d) Cash and cash equivalents	0.308	0.247	0.566
(e) Short-term loans and advances	0.103	0.002	0.001
(f) Other current assets	0.007	0.008	0.010
Total Current Assets	0.783	0.893	0.577
TOTAL	2.447	2.343	2.027

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		4.230	0.000
		Other Income		0.016	0.033
		TOTAL	2.240	4.246	0.033
Less	EXPENSES
		Purchase of Stock-in-trade		4.441	0.000
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(0.323)	0.000
		Other Expenses		0.125	0.037
		TOTAL	2.235	4.243	0.037
	PROFIT/(LOSS) BEFORE TAX		0.005	0.003	(0.004)
Less	TAX		0.002	0.001	0.000
	PROFIT/(LOSS) AFTER TAX		0.003	0.002	(0.004)
	Earnings Per Share (Rs.)		0.09	0.11	(0.21)

Particulars	31.03.2014
Sales Turnover (Approximately)	5.000

The above information has been parted by Mr. Prakash Chandak (C.E.O.)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2013	31.03.2012	31.03.2011
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin PAT / Sales	(%)	NA	0.05	0.00
Return on Total Assets (PBT/Total Assets)	(%)	0.64	0.34	(0.69)
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00
Debt Equity Ratio (Total Debt /Networth)		0.49	0.40	0.40
Current Ratio (Current Asset/Current Liability)		2.51	2.62	20.61

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	0.225	0.225	0.325
Reserves & Surplus	1.099	1.102	1.105
Share Application money pending allotment	0.100	0.100	0.000
Net worth	1.424	1.427	1.430
long-term borrowings	0.575	0.575	0.705
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.575	0.575	0.705
Debt/Equity ratio	0.404	0.403	0.493

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Total Income	0.033	4.246	2.240
		12,766.667	(47.244)

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	0.033	4.246	2.240
Profit	(0.004)	0.002	0.003
	(12.12%)	0.05%	0.13%

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	No
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	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
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	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
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

NOTE: Registered office address of the company has been shifted from 2 No Niranjannagar Coloni, Chandannagar – 712136, West Bengal, India to the present address w.e.f. 16.01.2008

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Million	31.03.2012 Rs. In Million
Long Term Borrowings
Astha Business Private Limited	0.400	0.400
Savita Chandak	0.275	0.175
Sandeep Chandak	0.030	0.000
Total	0.705	0.575

NO CHARGES EXIST FOR 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 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.64.03
UK Pound	1	Rs.99.27
Euro	1	Rs.71.90

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	KIN
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.