MIRA INFORM REPORT

Report No. :	323402
Report Date :	20.05.2015

IDENTIFICATION DETAILS

Name :	REXTRON CERAMICS PRIVATE LIMITED
Registered Office :	Flat No. 301, Swarg Vihar Appartment, Opposite Om Party Plot, At. Ravapar, Taluka Morbi – 363641, Gujarat
Tel No.:	91-7574888801 (Mr. Jatin)
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.08.2013
Com. Reg. No.:	04-076283
Capital Investment / Paid-up Capital :	Rs.32.500 Million
CIN No.: [Company Identification No.]	U26993GJ2013PTC076283
TIN No.:	Not Available
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, Supplier and Exporter of Ceramic Wall Tiles, Digital Kitchen Wall Tiles, Digital Ceramic Wall Tiles, Plain Wall Tiles, Light Dark Matt Series Wall Tiles, Concept White Series Wall Tiles etc.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca

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. As per the financials of 2014, the company not started its commercial activities. However, Mr. Jatin (Marketing Head) has claimed that the commercial activities were started on 1^st April 2015. Business is active as per status shown in registrar of companies. Payment terms are reported to be unknown. The company can be considered for business dealings 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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Jatin
Designation :	Marketing Head
Contact No.:	91-7574888801
Date :	19.05.2015

LOCATIONS

Registered Office :	Flat No. 301, Swarg Vihar Appartment, Opposite Om Party Plot, At. Ravapar, Taluka Morbi – 363641, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-7574888801 (Mr. Jatin)
Fax No.:	Not Available
E-Mail :	rextronceramics@gmail.com sales@rextronceramics.com
Website :	www.rextronceramics.com
Area :	Owned
Factory :	At Jasmatgadh, S.N. 475, Jetpar Road, Near Canal, Morbi - 363642, Gujarat, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Bhavesh Narbherambhai Jetpariya

Designation :

Director

Address :

Gayatri Nagar-1, Ravapar Road, Dist. Rajkot, Morbi - 363641, Gujarat, India

Date of Appointment :

20.03.2014

DIN No.:

03569939

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	U26914GJ2008PTC052575	SENSO GRANITO PRIVATE LIMITED	Director	01/07/2011	01/07/2011	-	Active	NO
2	U26993GJ2013PTC076283	REXTRON CERAMICS PRIVATE LIMITED	Director	20/03/2014	20/03/2014	-	Active	NO

Name :

Mr. Nileshbhai Khimjibhai Patel

Designation :

Director

Address :

2-6-21, Gopala Society, Sarkit Haus Road,, Morbi - 363642, Gujarat, India

Date of Appointment :

20.03.2014

DIN No.:

03570147

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	U26914GJ2008PTC052575	SENSO GRANITO PRIVATE LIMITED	Director	01/07/2011	01/07/2011	-	Active	NO
2	U26993GJ2013PTC076283	REXTRON CERAMICS PRIVATE LIMITED	Director	20/03/2014	20/03/2014	-	Active	NO
3	U51900GJ2015PTC082541	JAKA'S POWER PRIVATE LIMITED	Director	11/03/2015	11/03/2015	-	Active	NO

Name :

Mr. Rakesh Gordhanbhai Kasundra

Designation :

Director

Address :

Flat No. 301, Swarg Vihar Appartment,, Opposite Om Party Plot, At. Ravapar, Tal Morbi - 363641, Gujarat, India

Date of Appointment :

01.08.2013

DIN No.:

06646299

Name :

Mr. Bhavin Jagdishbhai Bhadja

Designation :

Director

Address :

192, Opposite Chowk Street, At Nesda Khanpar, Tal Tankara - 363641, Gujarat, India

Date of Birth / Age :

30.07.1993

Date of Appointment :

20.03.2014

DIN No.:

06851102

KEY EXECUTIVES

Name :	Mr. Jatin
Designation :	Marketing Head

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Bhavesh Narbherambhai Jetpariya	2500
Nileshbhai Khimjibhai Patel	2500
Rakesh Gordhanbhai Kasundra	2500
Bhavin Jagdishbhai Bhadja	2500
Total	10000

As on 15.12.2014

Names of Allottees	No. of Shares
Bhavesh Narbherambhai Jetpariya	500000
Krishnaben Bhaveshbhai Jetpariya	25000
Gauriben Narbherambhai Jetpariya	135000
Narbherambhai Punjabhai Jetpariya	170000
Narbherambhai Punjabhai Jetpariya (HUF)	150000
Ashokbhai Mahadevbhai Kasundra	350000
Nileshbhai Khimjibhai Patel	550000
Hasmukh Naranbhai Jetpariya	55000
Devkrushna Naranbhai Jetpariya	30000
Naranbhai Punjabhai Jetpariya	110000
Vanitaben Manharbhai Panchotiya	65000
Jalpesh Manharbhai Panchotiya	60000
Manharbhai Baljibhai Panchotiya	70000
Akash Mansukhbhai Bhadja	35000
Mansukhbhai Gandubhai Bhadja	30000
Bhavin Jagdishbhai Bhadja	117500
Mukeshbhai Ramjibhai Bhadja	50000
Jagdishbhai Ramjibhai Bhadja	185000
Gunvantaben Valamjibhai Koradiya	32500
Muktaben Jagdishbhai Bhadja	35000
Rakesh Gordhanvhai Kasundra	195000
Trigunaben Rakeshbhai Kasundra	215000
Ramaben Maganlal Kasundra	25000
Maganlala Khodabhai Kasundra	50000
Total	3240000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Supplier and Exporter of Ceramic Wall Tiles, Digital Kitchen Wall Tiles, Digital Ceramic Wall Tiles, Plain Wall Tiles, Light Dark Matt Series Wall Tiles, Concept White Series Wall Tiles etc.
Products :	Ivory Wall Tiles Beautiful Ivory Wall Tiles Exclusive Ceramic Digital Wall Tiles Elevation Wall Tiles Elevated Durable Digital Wall Tiles Kitchen Wall Tiles Highlighter Tiles Wall Tiles Ceramic Wall Tiles Digital Wall Tiles Digital Elevation Wall Tiles Digital Kitchen Wall Tiles
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Finished Goods
Countries :	Saudi Arabia
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cash, Advance Payment, L/C, Cheque and Credit
Purchasing :	Cash, Advance Payment, L/C, Cheque and Credit

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 :

20 (Approximately)

Bankers :

Banker Name	Indian Bank
Branch Address	Moravi Branch, 7-1-27, Jail Road, Moravi -363641, Gujarat - 363641, 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

Auditors :
Name :	VPMC and Associates Chartered Accountants
Address :	14-15 Sadhana Complex, Opposite Indusind Bank, Ravapar Road, Morbi – 363330, Gujarat, India
E-Mail :	vpmcasssociates@gmail.com
PAN No.:	AAJFV9187A
Memberships :	--
Collaborators :	--
Sister Concern :	Senso Textiles

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3250000	Equity Shares	Rs.10/- each	Rs.32.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3250000	Equity Shares	Rs.10/- each	Rs.32.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	0.000
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	0.100
(3) Non-Current Liabilities
(a) long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.000
(c) Other current liabilities	0.000
(d) Short-term provisions	0.005
Total Current Liabilities (4)	0.005
TOTAL	0.105
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.028
Total Non-Current Assets	0.028
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	0.077
(e) Short-term loans and advances	0.000
(f) Other current assets	0.000
Total Current Assets	0.077
TOTAL	0.105

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Income	0.000
		Other Income	0.000
		TOTAL (A)	0.000
Less	EXPENSES
		Cost of Materials Consumed	0.000
		Purchase of Stock-in-trade	0.000
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	0.000
		Employee Benefits Expenses	0.000
		Other Expenses	0.000
		TOTAL (B)	0.000
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.000
Less	FINANCIAL EXPENSES (D)		0.000
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.000
Less	DEPRECIATION/ AMORTISATION (F)		0.000
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		0.000
Less	TAX (H)		0.000
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000
	BALANCE CARRIED TO THE B/S		0.000
	Earnings / (Loss) Per Share (Rs.)		0.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014
Current Maturities of Long term debt	NA
Cash generated from operations	NA

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT/Sales)	(%)	0.00
Operating Profit Margin (PBDIT/Sales)	(%)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00
Return on Investment (ROI) (PBT/Networth)		0.00
Debt Equity Ratio (Total Debt /Networth)		0.00
Current Ratio (Current Asset/Current Liability)		15.40

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)	Yes
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	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	Yes
26	Turnover of firm for last one year	Yes
27	Reasons for variation <> 20%	----------
28	Estimation for coming financial year	No
29	Profitability for last one year	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

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10542242	30/12/2014	99,500,000.00	INDIAN BANK	MORAVI BRANCH, 7-1-27, JAIL ROAD, MORAVI -363641 , MORAVI, GUJARAT - 363641, INDIA	C40049454
2	10542238	27/12/2014	27,500,000.00	INDIAN BANK	MORAVI BRANCH, 7-1-27, JAIL ROAD, MORAVI-363641, MORAVI, GUJARAT - 363641, INDIA	C40048662
3	10542239	27/12/2014	60,000,000.00	INDIAN BANK	MORAVI BRANCH, 7-1-27, JAIL ROAD, MORAVI -363641 , MORAVI, GUJARAT - 363641, INDIA	C40049199

*Date of modification Charges

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.63.69
UK Pound	1	Rs.99.73
Euro	1	Rs.71.90

INFORMATION DETAILS

Information Gathered by :	SPR
Analysis Done by :	SAN
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

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