MIRA INFORM REPORT

Report No. :	344631
Report Date :	09.10.2015

IDENTIFICATION DETAILS

Name :	AHMED TANNERY PRIVATE LIMITED
Registered Office :	10/1/A, Topsia Road, (South), Kolkata – 700046, West Bengal
Tel. No.:	91-33-23448992
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	15.02.2002
Com. Reg. No.:	21-094236
Capital Investment / Paid-up Capital :	Rs.4.972 Million
IEC No.:	0202005917
CIN No.: [Company Identification No.]	U29113WB2002PTC094236
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCA5411B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Leather and Goods.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 100000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Ahmed Tannery Private Limited was incorporated in the year 2002. It is an established company having satisfactory track record. The rating takes consideration on company promoters’ extensive experience in manufacturing and exporting of leather and goods. The ratings also factor in a comfortable financial risk profile because of a moderate net worth, low gearing and adequate debt protection metrics. Trade relation are fair. Business is active. Payment term are reported to be usually correct. The company can be considered for 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

Rating Agency Name	CRISIL
Rating	SE 1B
Rating Explanation	Highest performance capacity and moderate financial strength.
Date	21.10.2014

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 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Iqbal
Designation :	Accountant
Contact No.:	91-9903169329

LOCATIONS

Registered Office/ Corporate Office :	10/1/1A, Topsia Road, Near Hindu Burial Ground, Kolkata – 700046, West Bengal, India
Tel. No.:	91-33-23448992/23448683/23448684/23448685
Mobile No.:	91-9903169329 (Mr. Iqbal)
Fax No.:	91-33-23448993
E-Mail :	info@ahmedtannery.com mfhaque@rediffmail.com
Website:	http://www.ahmedtannery.com
Location :	Owned
Locality:	Commercial
Tannery Office/ Factory :	Plot No. 185,186 and 187, Zone – 2, 24 Paraganas (South), Karaidanga -743502, West Bengal, India
E-Mail :	atculcutta@vsnl.net

DIRECTORS

As on 30.09.2014

Name :

Mr. Shakil Ahmed

Designation :

Managing Director

Address :

32/1/1, Miajan Ostagar Lane, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

13.10.1966

Date of Appointment :

15.02.2002

PAN No.:

ADLPA0450A

DIN No.:

00441093

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	U29113WB2002PTC094236	AHMED TANNERY PRIVATE LIMITED	Managing director	15/02/2002	15/02/2002	-	Active	NO
2	U45400WB2008PTC131206	MAHARAJ REALESTATE PRIVATE LIMITED	Director	12/01/2009	12/01/2009	-	Active	NO

Name :

Ms. Shamina Ahmed

Designation :

Director

Address :

32/1/1, Miajan Ostagar Lane, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

12.04.1973

Date of Appointment :

01.04.2004

PAN No.:

AERPA5603C

DIN No.:

00446415

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	U29113WB2002PTC094236	AHMED TANNERY PRIVATE LIMITED	Director	01/04/2004	01/04/2004	-	Active	NO
2	U19201WB1985PTC039797	ITI EXPORT PRIVATE LIMITED	Director	16/07/2012	16/07/2012	-	Active	NO
3	U70102WB2012PTC187448	GREEN OAKS REALTY AND INFRACON PRIVATE LIMITED	Director	31/03/2014	31/03/2014	-	Active	NO

Name :

Mrs. Sayeeda Shakil Ahmed

Designation :

Director

Address :

32/1/1, Miajan Ostagar Lane, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

11.01.1971

Date of Appointment :

01.04.2004

PAN No.:

AERPA5604F

DIN No.:

00442448

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	U29113WB2002PTC094236	AHMED TANNERY PRIVATE LIMITED	Director	01/04/2004	01/04/2004	-	Active	NO
2	U70109WB2012PTC174473	MOSAY INTERNATIONAL PRIVATE LIMITED	Director	20/02/2012	20/02/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Iqbal
Designation :	Accountant

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Shakil Ahmed	241500	48.57
Mohammed Ahmed	122458	24.63
Samina Ahmed	57500	11.56
Sayeeda Shakil Ahmed	75750	15.24
Total	497208	100.00

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Leather and Goods.
Products :	Leather Leather Products Leather Handbags Leather Wallets Small Leather Goods Canadian Gloves Work Gloves Rigger Gloves Driving Gloves Wedding Gloves Special Gloves
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Leather
Countries :	Germany
Imports :
Products :	Raw Material
Countries :	Italy
Terms :
Selling :	Cash, Cheque and Credit (60/ 90/ Days)
Purchasing :	Cash, Cheque and Credit (60/ 90/ Days)

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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Retailers, End Users and Manufacturer

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 :	Not Divulged
Remark:	Not Divulged

No. of Employees :

25 (Approximately)

Bankers :

Bank Name	Bank of India
Branch	SME Branch, 23A, Netaji Subhas Road, Kolkata – 700001, West Bengal, 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 :	Rahman and Associates Chartered Accountants
Address :	7/2G, Abinash Chowdhury Lane, Kolkata, West Bengal, India
Tel No.:	91-33-21037540
PAN N Income-tax PAN of auditor or auditor's firm :	ACHPR4409D
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
950000	Equity Shares	Rs.10/- each	Rs.9.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
497208	Equity Shares	Rs.10/- each	Rs.4.972 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4.972	4.972	4.972
(b) Reserves & Surplus	29.922	22.773	17.845
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	34.894	27.745	22.817
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	36.502	24.609	20.092
(b) Trade payables	84.464	55.800	32.867
(c) Other current liabilities	15.161	9.141	4.011
(d) Short-term provisions	4.874	2.064	4.983
Total Current Liabilities (4)	141.001	91.614	61.953
TOTAL	175.895	119.359	84.770
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	17.805	16.136	15.049
(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	13.035	10.202	7.736
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.059	1.067	0.537
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	31.899	27.405	23.322
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	84.088	50.298	26.161
(c) Trade receivables	54.852	31.270	25.634
(d) Cash and cash equivalents	0.514	0.518	4.335
(e) Short-term loans and advances	4.359	9.789	5.051
(f) Other current assets	0.183	0.079	0.267
Total Current Assets	143.996	91.954	61.448
TOTAL	175.895	119.359	84.770

PROFIT & LOSS ACCOUNT

Particulars	31.03.2014	31.03.2013	30.03.2012
Profit/Loss for the year	9.958	7.157	5.503

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	1.05	0.89	0.88
Current Ratio (Current Asset/Current Liability)	1.02	1.00	0.99

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	4.972	4.972	4.972
Reserves & Surplus	29.922	22.773	17.845
Net worth	34.894	27.745	22.817
long-term borrowings	0.000	0.000	0.000
Short term borrowings	36.502	24.609	20.092
Total borrowings	36.502	24.609	20.092
Debt/Equity ratio	1.046	0.887	0.881

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	Yes
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	No
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 three years	No
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	Yes
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	90246647	24/09/2013 *	40,000,000.00	BANK OF INDIA	KOLKATA SME BRANCH, 23A, N. S. ROAD, KOLKATA- 700001, WEST BENGAL, INDIA	B87536173

* 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.65.16
UK Pound	1	Rs.99.78
Euro	1	Rs.73.33

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	KAS
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.