MIRA INFORM REPORT

Report Date :

07.06.2013

IDENTIFICATION DETAILS

Name :	WEST COAST MARINE YACHI SERVICES PRIVATE LIMITED
Registered Office :	11 Advent, 12-A, Foreshore Road, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.01.2008
Com. Reg. No.:	11-177655
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U61100MH2008PTC177655
Legal Form :	Private Limited Liability Company
Line of Business :	Exporter and Service Provider of Yacht management, boat building and repairing, training, charter and brokerage services
No. of Employees :	Not Available

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 10100
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The management of the company has failed to file its financials for the year 2012 with the government department. As per previous year’s record (2011), the company is found normal for business dealing. However, trade relations are fair. Business is active. Payment terms are unknown. The company can be considered for business dealings with some 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Balbir Singh
Designation :	HR Head
Date :	16.05.2013

LOCATIONS

Registered Office :	11 Advent, 12-A, Foreshore Road, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	bbshahdin@gmail.com info@westcostmarine.co.in accounts@westcoastmarine.co.in
Website :	www.westcostmarine.co.in
Corporate Office :	Colaba Workshop Building, Jamshdji Bander, Lala Nigam Road, Colaba, Mumbai – 400005, Maharashtra, India
Tel. No.:	91-22-22856127/22831495
Fax No.:	91-22-22829602
E-Mail :	info@westcoastmarine.co.in

DIRECTORS

As on 24.09.2011

Name :

Mr. Aashim Surinder Mongia

Designation :

Chairman Cum Managing Director

Address :

11, Advent 12-A, Foreshore Road, Nariman Point, Mumbai – 400021, Maharashtra, India

Date of Birth/Age :

07.08.1969

Date of Appointment :

10.01.2008

DIN No.:

01434997

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	U61100MH2008PTC177655	WEST COAST MARINE YACHT SERVICES PRIVATE LIMITED	Managing director	10/01/2008	10/01/2008	-	Active	NO
2	U93090MH2009NPL196263	MATCH RACING ASSOCIATION OF INDIA	Director	06/10/2009	06/10/2009	-	Active	NO
3	U35999MH2010PTC202243	BAY ISLAND YACHT CLUB PRIVATE LIMITED	Director	21/04/2010	21/04/2010	-	Active	NO
4	U35100MH2010PTC205456	YACHTING CONCEPTS PRIVATE LIMITED	Director	14/07/2010	14/07/2010	-	Active	NO
5	U80222MH2010PTC206176	WEST COAST MARINE SAILING SCHOOL PRIVATE LIMITED	Director	01/08/2010	01/08/2010	-	Active	NO
6	U36912MH2010PTC210858	JAYA SAIL LOFT AND UPHOLSTERY WORKS PRIVATE LIMITED	Director	09/12/2010	09/12/2010	-	Active	NO
7	U92400MH2012PTC235429	INDIAN SAILING LEAGUE PRIVATE LIMITED	Director	07/09/2012	07/09/2012	-	Active	NO
8	U71120MH2006GAP158797	INDIAN MARINE FEDERATION	Director	29/09/2012	29/09/2012	-	Active	NO

Name :

Mrs. Bharati Aashim Mongia

Designation :

Director

Address :

11, Advent 12-A, Foreshore Road, Nariman Point, Mumbai – 400021, Maharashtra, India

Date of Birth/Age :

14.05.1971

Date of Appointment :

10.01.2008

DIN No.:

01858267

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	U61100MH2008PTC177655	WEST COAST MARINE YACHT SERVICES PRIVATE LIMITED	Director	10/01/2008	10/01/2008	-	Active	NO
2	U35999MH2010PTC202243	BAY ISLAND YACHT CLUB PRIVATE LIMITED	Director	21/04/2010	21/04/2010	-	Active	NO
3	U80222MH2010PTC206176	WEST COAST MARINE SAILING SCHOOL PRIVATE LIMITED	Director	01/08/2010	01/08/2010	-	Active	NO
4	U36912MH2010PTC210858	JAYA SAIL LOFT AND UPHOLSTERY WORKS PRIVATE LIMITED	Director	09/12/2010	09/12/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Balbir Singh
Designation :	HR Head

MAJOR SHAREHOLDERS

As on 24.09.2011

Names of Shareholders	No. of Shares
Aashim Surinder Mongia	5000
Bharati Aashim Mongia	5000
Total	100000

Equity Share Break up (Percentage of Total Equity)

As on 24.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Exporter and Service Provider of Yacht management, boat building and repairing, training, charter and brokerage services

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	Mukesh Advani and Company Chartered Accountant
Address :	A-002, Pacific, 1^st Cross Lane, Lokhandwala, Andheri (West), Mumbai – 400053, Maharashtra, India
Tel. No.:	AAAPA5107C

CAPITAL STRUCTURE

As on 24.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Share	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Share	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		25.194	12.242	5.630
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		25.294	12.342	5.730
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		2.769	4.167	2.465
TOTAL BORROWING		2.769	4.167	2.465
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		28.063	16.509	8.195
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.371	1.360	1.298
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		6.120	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	29.080	15.404	14.362
	Cash & Bank Balances	13.930	3.638	(0.641)
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	21.919	10.470	4.262
Total Current Assets		64.929	29.512	17.983
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	3.121	3.473
	Other Current Liabilities	35.433	5.626	5.005
	Provisions	8.940	5.640	2.640
Total Current Liabilities		44.373	14.387	11.118
Net Current Assets		20.556	15.125	6.865
MISCELLANEOUS EXPENSES		0.016	0.024	0.032
TOTAL		28.063	16.509	8.195

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	140.526	67.931	69.955
		Other Income
		TOTAL	140.526	67.931	69.955
Less	EXPENSES
		Office Expenses	120.886	57.590	61.487
		Administrative Expenses
		Advertising Expenses
		TOTAL	120.886	57.590	61.487
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		19.640	10.341	8.468
Less/ Add	DEPRECIATION/ AMORTISATION		0.364	0.374	0.234
	PROFIT BEFORE TAX		19.276	9.967	8.234
Less	TAX		5.800	3.000	2.500
	PROFIT AFTER TAX		13.476	6.967	5.734
	EXPORT VALUE		0.000	1.480	0.000
	Earnings Per Share (Rs.)		1347.60	696.70	NA

\

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	9.59	10.26	8.20
Return on Total Assets (PBT/Total Assets}	(%)	29.07	32.28	42.71
Return on Investment (ROI) (PBT/Networth)		0.76	0.81	1.44
Debt Equity Ratio (Total Debt /Networth)		0.11	0.34	0.43
Current Ratio (Current Asset/Current Liability)		1.46	2.05	1.62

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	Yes
12]	Profitability for last three years	Yes
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	No
25]	Conduct of the banking account	----
26]	Buyer visit details	----
27]	Financials, if provided	Yes
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	No

UNSECURED LOANS:

Particulars	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Bharati Mongia	0.000	0.450
Colaba Workshop 2001	0.298	0.498
Sea Waif	0.000	1.347
West Coast Marine Loan A/c	2.311	0.776
Loan A/c Director Aashim Mongia	0.160	1.096
Total	2.769	4.167

FIXED ASSETS:

· Furniture and Fixture

· Computer

· Air Conditioner

· Boat

· Xerox (office Eqp.)

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.56.87
UK Pound	1	Rs.87.65
Euro	1	Rs.74.52

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	AHN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
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	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.