MIRA INFORM REPORT

Report No. :	345410
Report Date :	16.10.2015

IDENTIFICATION DETAILS

Name :	PERIWINKLE FASHIONS PRIVATE LIMITED
Registered Office :	403, 4^th Floor, Ackruti Star Building, Central Road, MIDC, Andheri (East), Mumbai-400093, Maharashtra
Tel. No.:	91-22-33212600/ 01
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.03.2004
Com. Reg. No.:	11-144846
Capital Investment / Paid-up Capital :	Rs. 3.470 Million
CIN No.: [Company Identification No.]	U74994MH2004PTC144846
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMP20361F
PAN No.: [Permanent Account No.]	AADCP3365M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Trader and Exporter of Fashion Products including Bags, Shoes, Garments, Textile, Cosmetics and all other Fashion Accessories.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 1197000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2004. It has moderate track. The company has incurred losses from its operations in FY 14 and FY 13. However, networth position of the company is adequate along with comfortable debt level. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. In view of losses, the company can be considered for business dealings with 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 31-03-2015.

INFORMATION DECLINED

MANAGEMENT NON CO-OPERATIVE

(TEL. NO.: 91-22-33212600/ 01/ 300/ 611)

LOCATIONS

Registered Office :	403, 4^th Floor, Ackruti Star Building, Central Road, MIDC, Andheri (East), Mumbai-400093, Maharashtra, India
Tel. No.:	22-33212600/ 01/ 300/ 611
Fax No.:	Not Available
E-Mail :	pranav.mewada@samsonite.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Ayush Ramesh Tainwala

Designation :

Director

Address :

Flat No 4/5, Plot No. 9,The Shimmer Presidency Co-Operative Housing Society, Road No. 8, Juhu, J.V.P.D. Scheme, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

09.10.1989

Date of Appointment :

30.09.2014

DIN No.:

06430346

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	U52190MH1999PTC258831	PLANET RETAIL HOLDINGS PRIVATE LIMITED	Director	30/09/2013	18/12/2012	-	Active	NO
2	U67120MH1991PTC060867	TAINWALA HOLDINGS PRIVATE LIMITED	Director	30/09/2014	30/06/2014	-	Active	NO
3	U19115MH2011PTC221101	SHOEZONE LIFESTYLE PRIVATE LIMITED	Director	30/09/2014	30/06/2014	-	Active	NO
4	U65990MH1982PTC027073	TAINWALA TRADING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	30/09/2014	30/06/2014	-	Active	NO
5	U74994MH2004PTC144846	PERIWINKLE FASHIONS PRIVATE LIMITED	Director	30/09/2014	30/06/2014	-	Active	NO
6	U74994MH2008PTC188558	BAGZONE LIFESTYLES PRIVATE LIMITED	Additional director	30/06/2014	30/06/2014	31/07/2014	Active	NO

Name :

Mrs. Shobha Ramesh Tainwala

Designation :

Director

Address :

Flat No. 4/5, Plot No. 9, The Shimmer Presidency, Co-Operative Housing Society, N. S. Road-8, Juhu, JVPD Scheme, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

08.08.1960

Date of Appointment :

30.09.2014

DIN No.:

00294369

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	U67120MH1991PTC060867	TAINWALA HOLDINGS PRIVATE LIMITED	Director	04/12/1992	04/12/1992	-	Active	NO
2	U65990MH1982PTC027073	TAINWALA TRADING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	10/06/2002	10/06/2002	-	Active	NO
3	U74994MH2004PTC144846	PERIWINKLE FASHIONS PRIVATE LIMITED	Director	30/09/2014	04/03/2004	-	Active	NO
4	U28129MH2003PTC139261	ABHISHRI PACKAGING PRIVATE LIMITED	Director	20/03/2006	20/03/2006	06/02/2011	Active	NO
5	U74994MH2008PTC188558	BAGZONE LIFESTYLES PRIVATE LIMITED	Director	02/12/2008	02/12/2008	-	Active	NO
6	U70109MH2011PTC266487	SATYA BUILDMART PRIVATE LIMITED	Director	12/07/2012	30/04/2011	-	Active	NO
7	U74994DL2008PTC178447	NEWCON INTERIORS PRIVATE LIMITED	Director	30/09/2011	04/07/2011	-	Active	NO
8	U19115MH2011PTC221101	SHOEZONE LIFESTYLE PRIVATE LIMITED	Director	19/08/2011	19/08/2011	-	Active	NO
9	U52190MH1999PTC258831	PLANET RETAIL HOLDINGS PRIVATE LIMITED	Director	30/09/2014	30/06/2014	-	Active	NO

Name :

Mr. Kamalkumar Johari

Designation :

Director

Address :

Sun Flower 101, Aaram Society Road, Vakola, Santacruz (East), Mumbai - 400055, Maharashtra, India

Date of Birth/Age :

10.10.1960

Date of Appointment :

04.03.2004

DIN No.:

00785082

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	U65910MH1994PTC082644	LIBRA EQUIFIN PRIVATE LIMITED	Director	07/11/1994	07/11/1994	Strike off	NO
2	U51900MH1997PTC105387	SAMTAIN SALES PRIVATE LIMITED	Director	24/01/1997	24/01/1997	Active	NO
3	U99999MH1996PTC104056	POWERFUL IMPEX PRIVATE LIMITED	Director	23/04/1998	23/04/1998	Active	NO
4	U24239GA2001PTC003048	NOBEL HYGIENE PRIVATE LIMITED	Managing director	16/07/2012	13/11/2001	Active	NO
5	U67120MH1996PTC098349	FANCY INVESTRADE PRIVATE LIMITED	Director	23/05/2002	23/05/2002	Active	NO
6	U74994MH2004PTC144846	PERIWINKLE FASHIONS PRIVATE LIMITED	Director	04/03/2004	04/03/2004	Active	NO

Name :

Mr. Mahendra Kumar Singhania

Designation :

Director

Address :

E-702, Rushiraj Harmony, Gangapur Road, Near Gangapur Police Station, Savarkar Nagar, Nashik - 422013, Maharashtra, India

Date of Birth/Age :

19.09.1987

Date of Appointment :

04.03.2004

DIN No.:

00830792

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	U67120MH1991PTC060867	TAINWALA HOLDINGS PRIVATE LIMITED	Director	10/06/2002	10/06/2002	-	Active	NO
2	U65990MH1982PTC027073	TAINWALA TRADING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	10/06/2002	10/06/2002	-	Active	NO
3	U74994MH2004PTC144846	PERIWINKLE FASHIONS PRIVATE LIMITED	Director	04/03/2004	04/03/2004	-	Active	NO
4	U74994MH2008PTC188558	BAGZONE LIFESTYLES PRIVATE LIMITED	Director	02/12/2008	02/12/2008	-	Active	NO
5	U19120MH1995PTC094287	SAMSONITE SOUTH ASIA PRIVATE LIMITED	Alternate director	25/09/2010	26/03/2009	06/12/2013	Active	NO
6	U52190MH1999PTC258831	PLANET RETAIL HOLDINGS PRIVATE LIMITED	Director	30/09/2013	19/08/2010	-	Active	NO
7	U70109MH2011PTC266487	SATYA BUILDMART PRIVATE LIMITED	Director	12/07/2012	30/04/2011	-	Active	NO
8	U25209MH2011PTC217267	WELLON PLASTOPACK PRIVATE LIMITED	Director	10/05/2011	10/05/2011	-	Active	NO
9	U74994DL2008PTC178447	NEWCON INTERIORS PRIVATE LIMITED	Director	30/09/2011	04/07/2011	-	Active	NO
10	U19115MH2011PTC221101	SHOEZONE LIFESTYLE PRIVATE LIMITED	Director	30/09/2013	15/02/2013	-	Active	NO

Name :

Mr. Sandeep Keshavkumar Goenka

Designation :

Director

Address :

232/C Grand Paradi Apartment, August Kranti Marg, Mumbai - 400036, Maharashtra, India

Date of Birth/Age :

03.06.1967

Date of Appointment :

04.03.2004

DIN No.:

01117386

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	U74994MH2004PTC144846	PERIWINKLE FASHIONS PRIVATE LIMITED	Director	04/03/2004	04/03/2004	-	Active	NO
2	U19120MH1995PTC094287	SAMSONITE SOUTH ASIA PRIVATE LIMITED	Alternate director	10/07/2007	10/07/2007	13/03/2008	Active	NO
3	U74994MH2008PTC188558	BAGZONE LIFESTYLES PRIVATE LIMITED	Director	24/05/2010	28/01/2009	-	Active	NO
4	U19115MH2011PTC221101	SHOEZONE LIFESTYLE PRIVATE LIMITED	Director	19/08/2011	19/08/2011	-	Active	NO
5	U52190MH1999PTC258831	PLANET RETAIL HOLDINGS PRIVATE LIMITED	Director	30/09/2013	26/03/2013	-	Active	NO
6	U52322MH2015FTC263616	WACOAL INDIA PRIVATE LIMITED	Director	20/04/2015	20/04/2015	-	Active	NO

Name :

Mrs. Anushree Ramesh Tainwala

Designation :

Director

Address :

Flat No.4/5, Plot No. 9, Shimmer Presidency Co-Operative Housing Society, Rd-8, Juhu, JVPD Scheme, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

08.01.1987

Date of Appointment :

01.09.2005

DIN No.:

00293802

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	U74994MH2004PTC144846	PERIWINKLE FASHIONS PRIVATE LIMITED	Director	01/09/2005	01/09/2005	Active	NO
2	U74994MH2008PTC188558	Bagzone Lifestyles Private Limited	Director	02/12/2008	02/12/2008	Active	NO
3	U70109MH2011PTC266487	SATYA BUILDMART PRIVATE LIMITED	Director	12/07/2012	30/04/2011	Active	NO
4	U74994DL2008PTC178447	NEWCON INTERIORS PRIVATE LIMITED	Director	30/09/2011	04/07/2011	Active	NO

Name :

Mr. Sureshchandra Dahyalal Darji

Designation :

Director

Address :

401/402, Mahaveer Apartments, M.G. Road, Near Suncity Cinema, Vile Parle(East), Mumbai - 400057, Maharashtra, India

Date of Birth/Age :

02.01.1960

Date of Appointment :

30.09.2008

DIN No.:

02134040

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	U74994MH2004PTC144846	PERIWINKLE FASHIONS PRIVATE LIMITED	Director	30/09/2008	02/04/2008	-	Active	NO
2	U19120MH1995PTC094287	SAMSONITE SOUTH ASIA PRIVATE LIMITED	Alternate director	31/03/2010	26/03/2009	06/12/2013	Active	NO
3	U74994MH2008PTC188558	BAGZONE LIFESTYLES PRIVATE LIMITED	Director	30/09/2014	15/07/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Shobha Tainwala and Ramesh Tainwala	207400
Mahendra Singhania	100
Anushree Tainwala and Shobha Tainwala	35000
Ayush Tainwala and Ramesh Tainwala	35000
Tainwala Trading and Investment Company Private Limited	10000
Tainwala Holdings Private Limited	10000
Tainwala Chemical and Plastics India Limited	17500
Shobha Tainwala and Anushree Tainwala	32000
Total	347000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	10.81
Directors or relatives of directors	89.19
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader and Exporter of Fashion Products including Bags, Shoes, Garments, Textile, Cosmetics and all other Fashion Accessories.
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

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 :

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 :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Axis Bank Limited

Unit No 6,Corporate Park, Chembur, Mumbai - 400071, Maharashtra, India

· Indusind Bank Limited

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
From Axis Bank Limited	0.000	22.788
Indusind Bank Limited	76.506	20.706
Total	76.506	43.494

Banking Relations :	--
Auditors :
Name :	Thingna and Contractor Chartered Accountants
Address :	G-3, T. V. Industrial Estate, 248/A, S. K. Ahire Marg, Worli, Mumbai – 400030, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAAFT1050D
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs. 10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
347,000	Equity Shares	Rs. 10/- each	Rs. 3.470 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	3.470	3.470	3.470
(b) Reserves & Surplus	415.451	430.570	447.427
(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)	418.921	434.040	450.897
(3) Non-Current Liabilities
(a) Long-term borrowings	76.506	43.494	69.513
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	36.328	32.225	31.024
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	112.834	75.719	100.537
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	4.629	25.562	34.086
(d) Short-term provisions	0.050	0.201	0.687
Total Current Liabilities (4)	4.679	25.763	34.773
TOTAL	536.434	535.522	586.207
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	342.047	362.934	385.490
(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	126.718	125.990	150.842
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	14.571	10.512	18.887
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	483.336	499.436	555.219
(2) Current assets
(a) Current investments
(b) Inventories	48.847	33.091	23.728
(c) Trade receivables	0.000	0.000	4.451
(d) Cash and cash equivalents	0.605	2.873	2.666
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	3.646	0.122	0.143
Total Current Assets	53.098	36.086	30.988
TOTAL	536.434	535.522	586.207

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	45.586	43.525	41.420
		Other Income	2.349	2.216	7.855
		TOTAL (A)	47.935	45.741	49.275
Less	EXPENSES
		Addition WIP	15.755	9.363	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(15.755)	(9.363)	(4.763)
		Exceptional Items	0.064	2.419	0.000
		Other expenses	33.677	23.798	4.577
		TOTAL (B)	33.741	26.217	(0.186)
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		14.194	19.524	49.461
Less	FINANCIAL EXPENSES (D)		8.500	10.652	10.818
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.694	8.872	38.643
Less/ Add	DEPRECIATION/ AMORTISATION (F)		20.813	22.655	24.805
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(15.119)	(13.783)	13.838
Less	TAX (H)		0.000	3.074	7.536
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(15.119)	(16.857)	6.302
	Earnings/ (Loss) Per Share (Rs.)		(43.57)	(48.58)	19.68

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt
Term Loan	4.628	25.557	21.468
Cash Generated from Operations	(28.430)	3.421	(47.090)
Net Cash Flow from used in Operations	(28.430)	(2.909)	(56.242)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(33.17)	(38.73)	15.21
Operating Profit Margin (PBDIT/Sales)	(%)	31.14	44.86	119.41
Return on Total Assets (PBT/Total Assets}	(%)	(3.69)	(3.37)	3.18
Return on Investment (ROI) (PBT/Networth)		(0.04)	(0.03)	0.03
Debt Equity Ratio (Total Debt/Networth)		0.19	0.16	0.20
Current Ratio (Current Asset/Current Liability)		11.35	1.40	0.89

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	3.470	3.470	3.470
Reserves & Surplus	447.427	430.570	415.451
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	450.897	434.040	418.921
Long-term borrowings	69.513	43.494	76.506
Short term borrowings	0.000	0.000	0.000
CURRENT MATURITIES OF LONG-TERM DEBTS	21.468	25.557	4.628
Total borrowings	90.981	69.051	81.134
Debt/Equity ratio	0.202	0.159	0.194

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	41.420	43.525	45.586
		5.082	4.735

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	41.420	43.525	45.586
Profit	6.302	(16.857)	(15.119)
	15.21%	(38.73%)	(33.17%)

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	No
8	Designation of contact person	No
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	No
17	Details of sister concerns	No
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	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
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	No
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	10495345	25/04/2014	147,500,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA	C04683462
2	10475522	22/01/2014	65,000,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA	B95468088
3	10321822	31/12/2013 *	82,500,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA	B94921863

* Date of charge modification

CHANGE OF ADDRESS:

The Registered Office of the Company has been shifted from 401/B, Elegant Business Park, MIDC Cross Road, Opposite Andheri Kurla Road, Andheri (East), Mumbai-400093, Maharashtra, India to the present address w.e.f. 29.10.2008.

OPERATIONS

During the financial year ended on 31st March, 2014, the Company has incurred a loss of Rs. 15.119 Million as compared to Rs. 16.857 Million in the previous financial year ended 31st March, 2013.

BACKGROUND

The company was incorporated on 04^th March, 2001. The company is established in carry on the business of buying, selling, trading, manufacturing, importers and exporter of all kinds of fashion products including bags, shoes, garments, textiles, cosmetics and all other fashion accessories. The company also carries on business of an investment company and to invest in acquire hold underwrite sell or otherwise deal in share od any company.

FIXED ASSETS:

· Buildings

· Furniture’s and Fixtures

· Computers

· Vehicles

· Office Equipment’s

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.64.82
UK Pound	1	Rs.100.41
Euro	1	Rs.74.50

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KIN
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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		30

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.