MIRA INFORM REPORT

Report Date :

10.10.2013

IDENTIFICATION DETAILS

Name :	MAHAVIRA TENTS (INDIA) PRIVATE LIMITED
Registered Office :	B-260, 3^rd Floor, Yojna Vihar, Delhi - 110092
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.10.2003
Com. Reg. No.:	55-122542
Capital Investment / Paid-up Capital :	Rs. 0.900 Million
CIN No.: [Company Identification No.]	U74899DL2003PTC122542
TAN No.: [Tax Deduction & Collection Account No.]	DELM11550A
PAN No.: [Permanent Account No.]	AADCM6595Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Cotton Canvas, PVC Fabric, Tents, Canvas Bags, Jute Bags, Wooden Furniture, Iron Furniture, Hanging Lights, Canvas Items and Jute Items.
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 10000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively small company having moderate track record. Profitability of the company appears to be low in 2012. However, sales of the company have increased as against previous years. Mr. Nitin Jain Account Manager provided all information. Trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some cautions.

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^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

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. Nitin Jain
Designation :	Account Manager
Contact No.:	91-120-6520722
Date :	08.10.2013

LOCATIONS

Registered Office :	B-260, 3^rd Floor, Yojna Vihar, Delhi – 110092, India
Tel. No.:	Not Available
Fax. No.:	Not Available
E-Mail :	info@mahaviratents.com info@dineshaarjav.com shubhamproject102@gmail.com
Website :	http://www.mahaviratents.com http://www.mahaviratents.co.in http://www.mahaviratents.net
Area :	1000 Sq Ft
Location :	Owned
Corporate Office / Factory :	Plot No. 15, Street No. 15, Site - 4, Sahibabad Industrial Area, Near Times of India Press, Ghaziabad - 201010, Uttar Pradesh, India
Tel. No.:	91-120-6520722/ 6520724
Fax. No.:	91-120-4151102
Area :	940 sq.mtr
Location :	Owned
Overseas Office :	Bellegarde Safaritenten, 5 Route De Sussac 87130 Chateauneuf La Foret, France
Tel. No.:	33-555697-767

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Pradeep Jain

Designation :

Director

Address :

G.T. Road, Khatauli, Muzaffarnagar, Uttar Pradesh, India

Date of Birth/Age :

08.06.1956

Date of Appointment :

08.10.2003

DIN No.:

00100702

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	U74899DL2003PTC122542	MAHAVIRA TENTS (INDIA) PRIVATE LIMITED	Director	08/10/2003	08/10/2003	-	Active	NO
2	U70101DL2004PTC128087	SHUBHAM PROJECTS PRIVATE LIMITED	Director	04/08/2004	04/08/2004	-	Active	NO
3	U52341DL2004PTC130291	VEETRAG CONSTRUCTIONS PRIVATE LIMITED	Director	18/04/2005	18/04/2005	12/06/2012	Active	NO
4	U67200RJ2003PTC018693	AJAY FINETECH DEVELOPERS PRIVATE LIMITED	Director	24/06/2005	24/06/2005	03/09/2007	Active	NO
5	U74899DL1995PTC065762	VARUNA FINANCE PRIVATE LIMITED	Director	04/04/2006	04/04/2006	04/06/2008	Active	NO
6	U70101DL2006PTC148841	SANJEEVANI BUILDWELL PRIVATE LIMITED.	Director	26/05/2006	26/05/2006	-	Active	NO
7	U74140DL1999PTC102543	PJS PROJECTS PRIVATE LIMITED	Director	25/08/2006	25/08/2006	-	Active	NO
8	U72200DL2006PTC150536	ACHATES INFOCOM PRIVATE LIMITED	Director	10/10/2006	10/10/2006	-	Active	NO
9	U70109DL2006PTC155639	SHWETA BUILDWELL PRIVATE LIMITED	Director	17/11/2006	17/11/2006	-	Active	NO
10	U74900DL2008PTC181163	RADICAL CORPORATE OFFICES PRIVATE LIMITED	Additional director	01/11/2008	01/11/2008	-	Active	NO
11	U45200DL2013PTC256944	PAJ INFRATECH PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mr. Yogesh Kumar Jain

Designation :

Director

Address :

G.T. Road, Khatauli, Muzaffarnagar, Uttar Pradesh, India

Date of Birth/Age :

08.06.1956

Date of Appointment :

08.10.2003

DIN No.:

01545130

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	U74899DL1992PTC050583	SHRI MAHAVIRA TYRE AGENCIES PRIVATE LIMITED	Director	12/12/1992	12/12/1992	-	Active	NO
2	U74899DL2003PTC122542	MAHAVIRA TENTS (INDIA) PRIVATE LIMITED	Director	08/10/2003	08/10/2003	-	Active	NO
3	U70109DL2006PTC155639	SHWETA BUILDWELL PRIVATE LIMITED	Director	17/11/2006	17/11/2006	02/11/2009	Active	NO

Name :

Mr. Mohit Jain

Designation :

Director

Address :

G.T. Road, Khatauli, Muzaffarnagar, Uttar Pradesh, India

Date of Birth/Age :

03.05.1983

Date of Appointment :

16.08.2006

PAN No.:

AEXPJ2378D

DIN No.:

01548358

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	U74899DL2003PTC122542	MAHAVIRA TENTS (INDIA) PRIVATE LIMITED	Director	16/08/2006	16/08/2006	-	Active	NO
2	U70104DL2006PTC152962	SHRI MAHAVIR BUILDMART PRIVATE LIMITED	Director	02/09/2006	02/09/2006	-	Active	NO
3	U18101DL2003PTC123656	HEENA TEXFAB PRIVATE LIMITED	Additional director	01/05/2012	01/05/2012	03/06/2013	Active	NO

KEY EXECUTIVES

Name :	Mr. Nitin Jain
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Yogesh Kumar Jain	5000
Swati Jain	85000
Total	90000

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Cotton Canvas, PVC Fabric, Tents, Canvas Bags, Jute Bags, Wooden Furniture, Iron Furniture, Hanging Lights, Canvas Items and Jute Items.
Exports :
Countries :	· UK · France · Kenya
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :	Tripal Udyog
Customers :	End Users · Defence Equipments
No. of Employees :	10 (Approximately)
Bankers :	IDBI Bank Limited, Delhi, India

Banking Relations :	--
Auditors :
Name :	Dinesh Jain and Associates Chartered Accountants
Address :	Ghaziabad, Uttar Pradesh, India
Name :	Shailendra K. Jain and Associates Chartered Accountants
Address :	108, PH Complex, 65 Vijay Block, Laxmi Nagar, Delhi – 110092, India
Mobile No.:	91-9818527046
E-mail:	ca.shsiljain@gmail.com
Income-tax PAN of auditor or auditor's firm :	AGQPJ7444R
Associates :	· Shubham Projects Private Limited · Mahavira Dying Agencies

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
90,000	Equity Shares	Rs. 10/- each	Rs. 0.900 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.900	0.900
(b) Reserves & Surplus	1.703	1.641
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	2.603	2.541
(3) Non-Current Liabilities
(a) Long-term borrowings	4.093	0.593
(b) Deferred tax liabilities (Net)	0.017	0.013
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	4.110	0.606
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	2.391	4.361
(c) Other current liabilities	0.241	2.924
(d) Short-term provisions	0.118	0.075
Total Current Liabilities (4)	2.750	7.360
TOTAL	9.463	10.507
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.934	3.118
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.570	0.570
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.111	1.011
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	3.615	4.699
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	3.206	4.418
(c) Trade receivables	0.241	0.448
(d) Cash and cash equivalents	1.941	0.758
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.460	0.184
Total Current Assets	5.848	5.808
TOTAL	9.463	10.507

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.900
2] Share Application Money		0.000
3] Reserves & Surplus		1.491
4] (Accumulated Losses)		0.000
NETWORTH		2.391
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.593
TOTAL BORROWING		0.593
DEFERRED TAX LIABILITIES		0.008
TOTAL		2.992
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.927
Capital work-in-progress		0.000
INVESTMENT		0.210
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.422
	Sundry Debtors	0.395
	Cash & Bank Balances	0.410
	Other Current Assets	0.000
	Loans & Advances	1.423
Total Current Assets		3.650
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.297
	Other Current Liabilities	1.476
	Provisions	0.022
Total Current Liabilities		3.795
Net Current Assets		(0.145)
MISCELLANEOUS EXPENSES		0.000
TOTAL		2.992

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	GROSS RECEIPTS		28.503	25.697	6.726
Less	EXPENSES		NA	NA	NA
	PROFIT BEFORE TAX		0.178	0.220	0.043
Less	TAX		0.116	0.070	0.014
	PROFIT AFTER TAX		0.062	0.150	0.029
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	12.432	21.449	2.322
	Earnings Per Share (Rs.)		0.69	1.67	0.32

Particulars	31.03.2013
Sales Turnover (Approximately)	35.000

The above information has been parted by Mr. Nitin Jain (Accounts Manager)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	2.00	2.21	0.65
Return on Investment (ROI) (PBT/Networth)		0.07	0.09	0.02
Debt Equity Ratio (Total Debt/Networth)		1.57	0.23	0.25
Current Ratio (Current Asset/Current Liability)		2.13	0.79	0.96

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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
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	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

UNSECURED LOANS	31.03.2012 (Rs. In Millions)	31.03.2011 (Rs. In Millions)
LONG-TERM BORROWINGS
From Related Parties	1.193	0.593
From Others	2.900	0.000
Total	4.093	0.593

Note:

The registered office of the company has been shifted from 206, Surya Niketan, Delhi – 110092, India to the present w.e.f.25.10.2012

FIXED ASSETS:

· Land

· Factory Building

· Vehicle

· Computer

· Office Equipment

· Mobile Phone

· Plant and 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 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] 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. 61.69
UK Pound	1	Rs. 99.20
Euro	1	Rs. 83.69

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	BVA

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	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.