MIRA INFORM REPORT

Report No. :	314937
Report Date :	30.03.2015

IDENTIFICATION DETAILS

Name :	RAGHUVANSHI INDUSTRIES PRIVATE LIMITED
Registered Office :	R.S. No.319, Naranka Rajkot - Jamnagar Highway, Near Gujarat Gold Coin Ceramic, Village Targhadi, Taluka Padadhari, District Rajkot – 363 660, Gujarat
Country :	India
Financials (as on) :	Not Available
Date of Incorporation :	24.01.2014
Com. Reg. No.:	04-078412
Capital Investment / Paid-up Capital :	Rs.50.000 million
CIN No.: [Company Identification No.]	U17111GJ2014PTC078412
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	RKTR01049B
PAN No.: [Permanent Account No.]	AAGCR7964R
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in ginning, manufacturing and pressing of cotton into bales and extraction of cotton seed.
No. of Employees :	Information declined by the Management.

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 :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was set up as a partnership concern in 1998. However, post January 2014, the concern was converted into private limited having moderate track. Management has filed “FORM 20B” depicting annual return for FY 14 whereas, failed to file any other documents pertaining to financial statements for the same year, with the statutory authorities. Mr. Dinesh Selani, the director and Mr. Hitesh, the concerned person denied to disclose any information of the subject to us. As per information available from indirect sources, i.e. CRISIL we found that the company has reported high gearing and weak debt protection metrics during FY 14. However, trade relations seem to be fair. Business is active. Payment terms are reported as slow. In view of promoters’ extensive industry experience, the company can be considered for business dealings with great caution.

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

Rating Agency Name	CRISIL
Rating	Long Term Rating = B+
Rating Explanation	High risk of default regarding timely of financial obligation.
Date	June 23, 2014

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 DECLINED BY

Name :	Mr. Dinesh Selani
Designation :	Director
Contact No.:	91-9825077445
Name :	Mr. Hitesh
Designation :	Not Divulged
Contact No.:	91-9825220839

LOCATIONS

Registered Office/ Factory :	R.S. No.319, Naranka Rajkot - Jamnagar Highway, Near Gujarat Gold Coin Ceramic, Village Targhadi, Taluka Padadhari, District Rajkot – 363 660, Gujarat, India
Tel. No.:	91-2820-282684/ 282500
Mob. No.:	91-9825220839 (Mr. Hitesh) 91-9825077445 (Mr. Dinesh Selani)
Fax No.:	91-2820-282499
E-Mail :	rcgp2006@yahoo.com raghuvanshi_ind@yahoo.com
Postal Address :	202, Shree Mahalaxmi Complex, Kalawad Road, Near K.K.V. Hall, Rajkot – 360 005, Gujarat, India
Tel. No.:	91-281-2574674

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Dineshkumar Dhirajlal Selani

Designation :

Director

Address :

Mahalaxmi Comp., G.F. Shop 202, Kalawad Road, Rajkot – 360 002, Gujarat, India

Date of Birth/Age :

01.04.1965

Date of Appointment :

24.04.2014

DIN No.:

01601752

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	U17110GJ2006PTC047456	RAGHUVANSHI COTTON GINNING AND PPRESSING PRIVATE LIMITED	Director	06/01/2006	06/01/2006	-	Active	NO
2	U01514GJ2006PTC049489	PRIME COTTEX PRIVATE LIMITED	Director	01/07/2008	01/07/2008	-	Active	NO
3	U17120GJ2013PTC075448	NATURAL TEX YARN PRIVATE LIMITED	Director	04/06/2013	04/06/2013	-	Active	NO
4	U51909GJ2013PTC076447	RGS IMPEX PRIVATE LIMITED	Director	16/08/2013	16/08/2013	-	Active	NO
5	U17111GJ2014PTC078412	RAGHUVANSHI INDUSTRIES PRIVATE LIMITED	Director	24/01/2014	24/01/2014	-	Active	NO
6	U17119GJ1998PTC034650	GIRIRAJ GINNING AND PRESSING PRIVATE LIMITED	Additional director	04/09/2014	04/09/2014	-	Active	NO

Name :

Mr. Gaurav Dineshbhai Selani

Designation :

Director

Address :

A-24, Dwarkesh, Panchwati Society, Near Panchwati Hall, Rajkot – 360 001, Gujarat, India

Date of Appointment :

30.01.2015

DIN No.:

06572248

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	U17120GJ2013PTC075448	NATURAL TEX YARN PRIVATE LIMITED	Director	04/06/2013	04/06/2013	-	Active	NO
2	U01403GJ2007PTC051608	SHREE RAMRAJYA COTEX PRIVATE LIMITED	Director	24/03/2014	24/03/2014	12/02/2015	Active	NO
3	U01514GJ2006PTC049489	PRIME COTTEX PRIVATE LIMITED	Director	04/11/2014	04/11/2014	-	Active	NO
4	U17111GJ2014PTC078412	RAGHUVANSHI INDUSTRIES PRIVATE LIMITED	Director	30/01/2015	30/01/2015	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Dineshkumar Dhirajlal Selani	154000	3.08
Pritiben Dineshkumar Selani	80000	1.60
Dhirajlal Vrajlal Selani	15000	0.30
Gaurav Dineshbhai Selani	4744000	94.88
Richa Gaurav Selani	2000	0.04
Reena Hitesh Selani	3000	0.06
Jyotshnaben Pravin Chandra Selani	2000	0.04
Total	5000000	100.00

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	99.00
Other top fifty shareholders	1.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in ginning, manufacturing and pressing of cotton into bales and extraction of cotton seed.
Products :	Cotton and Cotton Seeds
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

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

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

No. of Employees :

Information declined by the Management.

Bankers :

• State Bank of India, Commercial Branch, Kalawad Road, Rajkot – 360 002, Gujarat, India
• Indusind Bank Limited, Consumer Finance Division, No.34, G.N. Chetty Road, Chennai – 600 017, Tamilnadu, India

Auditors :	Not Available
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 million

FINANCIAL DATA

[all figures are in Rupees Million]

NOT AVAILABLE

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	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	No
13]	Reasons for variation <> 20%	-------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
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	Yes
25]	Conduct of the banking account	-------
26]	Buyer visit details	-------
27]	Financials, if provided	No
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
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	Yes

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	CHARGE HOLDER	ADDRESS	Service Request Number (SRN)
1	10549825	12/02/2015	200,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, KALAWAD ROAD, RAJKOT, GUJARAT - 360002, INDIA	C43929496
2	10549828	12/02/2015	200,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, KALAWAD ROAD, RAJKOT, GUJARAT - 360002, INDIA	C43930148
3	10549914	05/01/2015	800,000.00	INDUSIND BANK LIMITED	CONSUMER FINANCE DIVISION, NO.34, G.N. CHETTY ROAD, CHENNAI, TAMILNADU - 600017, INDIA	C43971100

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.62.61
UK Pound	1	Rs.92.95
Euro	1	Rs.68.15

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUB
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
-- PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		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.