MIRA INFORM REPORT

$MIPL-Logo$

$3decades$

MIRA INFORM REPORT

Report No. :	509920
Report Date :	25.05.2018

IDENTIFICATION DETAILS

Name :	TEX US

Registered Office :	238 / 2, Mangalwar Peth, Madhavnagar, Taluka - Miraj, District Sangli-416406, Maharashtra
Tel. No.:	91-233-2311109/ 2310683

Country :	India

Financials (as on) :	31.03.2017

Date of Establishment :	17.03.2011

Capital Investment / Paid-up Capital :	INR 2.018 million

IEC No.: [Import-Export Code No.]	3111003671

TIN No.:	27800913636

Company Registered No:	MPA-84232

GSTN : [Goods & Service Tax Registration No.]	27AAGFT7973F1ZP

PAN No.: [Permanent Account No.]	AAGFT7973F

Legal Form :	Partnership Concern with an unlimited liability of the partners

Line of Business :	Trader, Exporter and Importer of Textile Machinery, Fabric, Weaving Textile Machinery, New Airjet and Waterjet Automatic Looms and New Screw Air Compressor. (Confirmed by management)

No. of Employees :	11 (Approximately) (Office =05 + Branch = 6)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Tex US is a trader, exporter and importer of textile machinery and fabric. The concern was started in the year 2011 and is based in Sangli, Maharashtra. It is an established partnership concern having satisfactory track record. For the financial year ended 2017, the concern has achieved decent total sales revenue and has reported fair profit margin at 0.14% (approx.) The concern possesses an acceptable financial profile marked by satisfactory net worth base along with low debt level of the concern. Further, rating considers positive feedback received from its customer (Kaka Uniforms), (Santdas Silk Mills) for satisfactory product quality, supplier (Vijayshree Equipment’s), (S Air Tech) for good payment behaviour and market goodwill and also from its Banker (Axis Bank) for satisfactory banking transaction. However, the rating strength is partially offset by strong competition from organized and un-organised players from textile industry. Trade relations are reported as fair. Business is active. Payment terms are seems to be usually correct. The concern can be considered normal 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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2018.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 25.05.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY

Name :	Mr. Snehal Chandrakant Nille
Designation :	Partner
Contact No.:	91-9225825213
Date :	22.05.2018

LOCATIONS

Registered Office :	238 / 2, Mangalwar Peth, Madhavnagar, Taluka - Miraj, District Sangli-416406, Maharashtra, India
Tel. No.:	91-233-2311109/ 2310683/ 2429585
Mobile No.:	91-9225825213/ 9637342913 (Mr. Snehal Nille) 91-9423035809/ 97 (Mr. Umesh Bajaj)
Fax No.:	91-233-2311108
E-Mail :	texus4tex@gmail.com info@ribbonr.com
Website :	http://www.texusindia.com
Area :	1500 Sq. Ft.
Location :	Owned

Godown:	Bhagate Complex, Vardhaman Chowk, Ichalkaranji, Kolhapur, Maharashtra, India

Branch Office 2:	B/1, Rajsheela Tower, Opposite Badve Hospital, Ring Road, Ichalkaranji, Kolhapur-416115, Maharashtra, India
Tel. No.:	91-230-2429585
Fax No.:	91-230-2429585
Area :	1000 Sq. Ft.
Location :	Rented

PARTNERS

Name :	Mr. Snehal Chandrakant Nille
Designation :	Partner
Address :	Rashivade, Kolhapur, Maharashtra, India
Date of Birth/Age :	04.09.1982
Qualification :	D.T.M. Textile Engineers
PAN No:	AFAPN2440N
Experience :	15 years

Name :	Mr. Umesh Shriniwas Bajaj
Designation :	Partner
Address :	Madhavnagar, Sangli, Maharashtra, India
Date of Birth/Age :	15.08.1979
Qualification :	B.Com
Experience :	15 years
PAN No:	ADJPB0489L

BUSINESS DETAILS

Line of Business :	Trader, Exporter and Importer of Textile Machinery, Fabric, Weaving Textile Machinery, New Airjet and Waterjet Automatic Looms and New Screw Air Compressor. (Confirmed by management)

Products :	Airjet and Rapier Loom Textile Machinery Consultant Textile Weaving Textile Machinery New Airjet and Waterjet Automatic Looms New Screw Air Compressor

Brand Names :	Not Available

Agencies Held :	Xinlei Air Compressor Co. Limited- China Hengyu Yinchun Machinery Co. Limited- China Toyota, Tsudakoma - Japan Picanol - Belgium Vamatex, Somet, Panter - Italy

Exports :
Products :	Textile machinery
Countries :	Morocco Thailand Italy

Imports :
Products :	New Textile Machinery Air Conditioner
Countries :	Japan Europe China Italy United States of America

Terms :
Selling :	Advance Payment L/C, Cash and T.T.

Purchasing :	Advance Payment L/C, Cash, T.T. AND Credit (30 Days)

GENERAL INFORMATION

Suppliers :

Reference :

Vijayshree Equipments

Name of the Person :

Mr. Prashant Sawant (Chief Executive Officer)

Contact No.:

91-9823061827

Since How Long Known :

5 Years

Maximum Limit Dealt :

Experience :

Payment Behaviour	Market Goodwill	Overall
Good	Good	Good

Remark:

As claimed Mr. Prashant Sawant (Chief Executive Officer) that they are satisfied with the subject companies transactions.

Reference :

S Air Tech

Name of the Person :

Mr. Kiran Patil (Proprietor)

Contact No.:

91-9011031149

Since How Long Known :

8 Years

Maximum Limit Dealt :

Experience :

Payment Behaviour	Market Goodwill	Overall
Good	Good	Good

Remark:

As claimed Mr. Kiran Patil (Proprietor) that they are satisfied with the subject company transaction.

Apollo Fab
Bholenath Mills
Mangalmurti Textiles Private Limited
Narayan Eng. Works, Ahmedabad
P.C. Patel and Associates, Pune
Soma Universal Logistics Private Limited
Apollo Tex
Balaji Winding Works, Ichalkaranji
Ichraj Cottex, Ichalkaranji
Jagannath Sizers, Ichalkaranji
Kiran Pawar Quality Sizers, Ichalkaranji
Pooja Textiles, Ichalkaranji
Prince Auto Warpers, Ichalkaranji
Radhamadhav Sizers
Sanjay Patil Winding Works
Sanskar Traders
Shreenika Industries
Shreya Corporation
Shri Hariom Sizers, Ichalkaranji
Shri Pushkar Winding, Ichalkaranji

Customers :

Retailers and End Users

Reference :

Kaka Uniforms

Name of the Person :

Mr. Samar Kate (Sales Manager)

Contact No.:

91-9822242817

Since How Long Known :

8 Years

Maximum Limit Dealt :

Experience :

Product Quality	Delivery Behaviour	Overall
Good	Good	Good

Remark:

As claimed Mr. Samar Kate (Sales Manager) that they are satisfied with the subject company transaction.

Reference :

Santdas Silk Mills

Name of the Person :

Mr. Mukesh Harchandani (Partner)

Contact No.:

91-9423983322

Since How Long Known :

7 Years

Maximum Limit Dealt :

Experience :

Product Quality	Delivery Behaviour	Overall
Good	Good	Good

Remark:

As claimed Mr. Mukesh Harchandani (Partner) that they are satisfied with the subject company transaction.

Apollo Fab
Nantong Xingnuo Textiles Co. Limited, China
Raghuveer Industries, Bhiwandi
Indo Count Industries Limited

High - Sea Sales Customer List

Company Name	Address	Contact Person	Contact No.
Gurudutta Textiles	Gat No.462, At Post:- Jambhali, Taluka Shirol, Kolhapur – 416121, Maharashtra, India	Mr. Dhondiram Bedge	91-9225808045
Swapnil Textiles	Gat No.462, At Post: - Jambhali, Taluka Shirol, Kolhapur – 416121, Maharashtra, India	Mr. Dhondiram Bedge	91-9225808045
Square Weaave Private Limited	Mangalwar Peth, Madhvanagar, Sangali, Kolhapur - 416406, Maharashtra, India	Mr. Shrinivas Bajaj	91-9423035710
Ken Enterprises Private Limited	9/621, Industrial Estate, Ichalkaranji, Kolhapur – 416115, Maharashtra, India	Mr. Nikunj Bagdiya	91-9545506364
Chilimattur Tex-Fab	Gat No.17, Pl.No.1, Yadrav, Taluka Shirol, Kolhapur – 416115, Maharashtra, India	Mr. Husain Chilimattur.	91-8983047507
Jamadar Tex-Fab	Gat No.17, Pl.No.1, Yadrav, Taluka Shirol, Kolhapur – 416115, Maharashtra, India	Mr. Husain Chilimattur.	91-8983047507
Kishore Ishwara Pawar	Pl.No.69A, Metro Hi-Tech, Park Kagal, Kolhapur – 416217, Maharashtra, India	Mr.Kishore Pawar	91-8822997711
Shaila Kishore Pawar	Pl.No.69A, Metro Hi-Tech, Park Kagal, Kolhapur – 416217, Maharashtra, India	Mr .Kishore Pawar	8822997711
Ajitkumar B. Birnale	Pl.No.69A, Metro Hi-Tech, Park Kagal, Kolhapur – 416217, Maharashtra, India	Mr. Ajitkumar Birnale	91-9225599555
Manisha A. Birnale	Pl.No.69A, Metro Hi-Tech, Park Kagal, Kolhapur – 416217, Maharashtra, India	Mr. Ajitkumar Birnale	91-9225599555
Mayuri Nilesh Ingale	Pl.No.69A, Metro Hi-Tech, Park Kagal, Kolhapur – 416217, Maharashtra, India	Mr. Nilesh Ingale	91-8822997711
Nilesh Chandrakant Ingale	Pl.No.69A, Metro Hi-Tech, Park Kagal, Kolhapur – 416217, Maharashtra, India	Mr. Nilesh Ingale	91-8822997711
Shri Balaji Synthetics, Ichalkaranji	8/59, Vikram Nagar, Ichalkaranji, Kolhapur – 416115, Maharashtra, India	Mr. Mahantesh Karade	91-9527641541

Direct Sales Customer List

Company Name	Address	Contact Person	Contact No.
Mangalmurti Textiles	Sangali	Mr. Mahendra Bajaj	91-9822045990
Danaole Textiles	Pride India Co-Tex Park, Ichalkaranji, Kolhapur – 416115, Maharashtra, India	Mr. Rajendra Danole	91-9423042655
Inamdar Musa Textiles	Kadegaon	Mr. Swapnil Patil	91-7276717338
Kalawant Textiles	Ichalkaranji	Mr. Imran Kalawant	91-9850333353
Kitture Textiles	Ichalkaranji	Mr. Shivdas Kitture	91-9766676644
Chougule Textiles	Ichalkaranji	Mr. Ajay Chougale	91-9028676868
Toshniwal Textiles	Ichalkaranji	Mr. Abhishek Toshniwal	91-9422522163
Omkar Mete Textiles	Ichalkaranji	Mr. Omkar Mete	91-9881309099

No. of Employees :

11 (Approximately) (Office =05 + Branch = 6)

Bankers :

Banker Name :	Axis Bank Limited
Branch :	Near Lotus Hotel, Station Road, Sangli – 416416, Maharashtra, India
Person Name (With Designation) :	Mr. Ravindra Waghole (Senior Manager)
Contact Number :	91-9881325522
Name of Account Holder :	--
Account Number :	915020041426008
Account Since (Date/Year of Account Opening) :	January 2015
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	Current Account
Remark :	As claimed by Mr. Ravindra Waghale (Senior Manager) that they are satisfied with the subject company.

HDFC Bank Limited
Indusland Bank

Auditors :
Name :	P.C. Patil and Associates, Pune Chartered Accountants
Address :	Pandurang Bunglow, Samarth Chowk, South Shivaji Nagar, Sangli, Maharashtra, India
Tel. No:	91-233-2329290
Email:	pcp@pcpatil.com
Membership No:	130266

Collaborators :	Not Available

Membership :	Not Available

Sister Concern :	--

CAPITAL STRUCTURE

AS ON 31.03.2017

PARTNER CAPITAL ACCOUNT

(INR in million)

Particular	Amount
Snehal Chandrakant Nille	0.025
Umesh Shriniwas Bajaj	0.025
Total	0.050

PARTNER CURRENT ACCOUNT

(INR in million)

Particular	Amount
Snehal Chandrakant Nille	(0.388)
Umesh Shriniwas Bajaj	2.356
Total	1.968

FINANCIAL DATA

[all figures are INR Million]

Particulars

31.03.2018

Sales Turnover (Approximately)

90.000

The above information has been parted by Mr. Snehal Chandrakant Nille (Partner)

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017	31.03.2016	31.03.2015
EQUITY AND LIABILITIES
1] Partner Capital Account		0.050	0.050	0.050
2] Partner Current Account		1.968	2.575	2.416
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.018	2.625	2.466
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.500	0.500	0.500
TOTAL BORROWING		0.500	0.500	0.500
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		2.518	3.125	2.966

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		0.459	0.090	0.024
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		0.002	0.002	0.101
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.072	9.707	9.578
	Sundry Debtors	(13.252)	(0.084)	0.411
	Cash & Bank Balances	5.455	0.116	0.061
	Other Current Assets	0.661	0.169	0.097
	Loans & Advances, Deposit	6.641	0.215	0.290
Total Current Assets		7.577	10.123	10.437
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.565	6.690	7.326
	Other Current Liabilities	(0.060)	0.158	0.000
	Provisions	0.015	0.242	0.270
Total Current Liabilities		5.520	7.090	7.596
Net Current Assets		2.057	3.033	2.841

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		2.518	3.125	2.966

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	40.330	25.378	11.679
	Other Income	0.780	0.995	0.352
	TOTAL	41.110	26.373	12.031

Less	EXPENSES
	Cost of Goods Sold	37.274	23.785	8.733
	Sizing Charges	0.000	0.000	0.006
	Rolling and Folding Charges	0.000	0.000	0.042
	Other Charges (Purchase)	0.000	0.003	0.025
	Reed Repairing Charges	0.000	0.001	0.000
	Weaving Defect Charges	0.000	0.002	0.000
	Yarn Rewinding Charges	0.000	0.005	0.000
	Butta Cutting Charges	0.013	0.000	0.000
	Custom Duty Charges	0.153	0.000	1.555
	Discount Account	0.005	0.002	0.000
	Packing Charges	0.002	0.000	0.000
	Transport Charges	0.093	0.009	0.045
	Winding Charges	0.057	0.000	0.000
	Admin Expenses	0.168	0.000	0.000
	Audit Fees	0.021	0.025	0.015
	Advertisement Expenses	0.034	0.005	0.000
	Commission Paid	0.008	0.100	0.000
	Exhibition Expenses	0.125	0.161	0.000
	Fabric Damage Charges	0.054	0.000	0.000
	Foreign Trip Expenses	1.306	0.000	0.000
	Office Expenses	0.002	0.125	0.034
	Petrol Expenses	0.013	0.000	0.000
	Salary and Wages	0.964	0.371	0.200
	Tours and Travelling Expenses	0.131	0.954	0.756
	Interest on Partners Capital	0.258	0.148	0.000
	Partner Remuneration	0.309	0.349	0.314
	Crain Charges	0.000	0.011	0.000
	Electric and Electrification Expenses	0.000	0.006	0.000
	Insurance Expenses	0.000	0.033	0.035
	Postage and Couriers	0.000	0.005	0.004
	Printing and Stationery Expenses	0.000	0.053	0.000
	Rent	0.000	0.062	0.133
	Repair and Maintenance	0.000	0.005	0.042
	Tax Consulting Charges	0.000	0.006	0.000
	Vat Expenses	0.000	0.000	0.002
	Godwan Expenses	0.000	0.000	0.009
	Telephone Expenses	0.000	0.010	0.007
	Bank Charges and Commission Charges	0.014	0.020	0.006
	Interest Paid Account	0.000	0.004	0.000
	TOTAL	41.004	26.260	11.963

	PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION	0.106	0.113	0.068

Less	DEPRECIATION/ AMORTISATION	0.050	0.031	0.009

	NET PROFIT	0.056	0.082	0.059

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	(119.94)	(1.21)	12.84

Account Receivables Turnover (Income / Sundry Debtors)	(3.04)	(302.12)	28.42

Average Payment Days (Sundry Creditors / Purchases * 365 Days)	54.49	102.65	305.32

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.75	0.74	0.77

Debt Equity Ratio (Total Liability / Networth)	0.25	0.19	0.20

Current Liabilities to Networth (Current Liabilities / Net Worth)	2.98	2.89	3.28

Fixed Assets to Networth (Net Fixed Assets / Networth)	0.23	0.03	0.01

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.14	0.32	0.51

Return on Total Assets ((PAT / Total Assets) * 100)	%	0.70	0.80	0.56

Return on Investment (ROI) ((PAT / Networth) * 100)	%	2.78	3.12	2.39

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.26	1.33	1.30

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	(0.08)	0.06	0.12

G-Score Ratio Financial (Networth / Total Assets)	0.25	0.26	0.23

G-Score Ratio Debt (Debts / Equity Capital)	0.25	0.19	0.20

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.26	1.33	1.30

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Partner Capital Account	0.050	0.050	0.050
Partner Current Account	2.416	2.575	1.968
Reserves & Surplus	0.000	0.000	0.000
Net worth	2.466	2.625	2.018

Secured Loans	0.000	0.000	0.000
Unsecured Loans	0.500	0.500	0.500
Total borrowings	0.500	0.500	0.500
Debt/Equity ratio	0.203	0.190	0.248

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	11.679	25.378	40.330
		117.296	58.917

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	11.679	25.378	40.330
Profit	0.059	0.082	0.056
	0.51%	0.32%	0.14%

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 –Legal Form	Yes
3	Locality of the entity	Yes
4	Premises details	Yes
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	Yes
19	Major customers	Yes
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%	Yes
28	Estimation for coming financial year	Yes
29	Profitability for last three years	Yes
30	Major shareholders, if available	No
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

COMPUTATION OF INCOME (ASSESSMENT YEAR 2017-18)

[INR in Million]

Particulars	Amount	Amount	Amount	Amount
INCOME FROM BUSINESS / PROFESSION
TEX US
Net Profit (Loss)	0.056
Add : Remuneration paid to partners	0.309
Add: Interest paid to partners	0.257
Book Profit before Remuneration and Interest		0.623


Add: Disallowable and Items Considered Separately
Depreciation (considered separately)	0.050	0.050
Less : AIIowabIe and Items Considered
Separately
Depreciation (considered separately)		(0.050)	0.623
Less :
AIIowabIe interest			0.257

Book Profit before Remuneration			0.365
Less: Allowable Remuneration			0.309	0.056

Gross Total Income				0.056
Total Income				0.056

Tax o total income				0.017
Tax Payable				0.000
Education Cess @3%

Tax Payable + Education Cess				0.017
Less : Tax Deducted at Source
u/s 194C			0.670	(0.671)
				(0.653)

UNSECURED LOAN

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Pramod N. Malu

0.500

Total

0.500

FIXED ASSETS:

Computer
Furniture and Fixture
Machinery

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 records 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	INR
US Dollar	1	INR 68.39
UK Pound	1	INR 91.44
Euro	1	INR 80.14

INFORMATION DETAILS

Information Gathered by :	STL

Analysis Done by :	DIV

Report Prepared by :	MTN

SCORE FACTORS

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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.

MIRA INFORM REPORT

8.072

9.707

9.578

(13.252)

(0.084)

0.411

5.455

0.116

0.061

0.661

0.169

0.097

6.641

0.215

0.290

5.565

6.690

7.326

(0.060)

0.158

0.000

0.015

0.242

0.270

5.520

7.090

7.596

2.057

3.033

2.841

Unit