MIRA INFORM REPORT

Report Date :

02.12.2014

IDENTIFICATION DETAILS

Name :	BDS PROJECTS INDIA PRIVATE LIMITED (w.e.f. 15.09.2008)
Formerly Known As :	BDS COATINGS PRIVATE LIMITED
Registered Office :	Neville House, Currimbhoy Road, Ballard Estate, Mumbai – 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.01.2007
Com. Reg. No.:	11-166941
Capital Investment / Paid-up Capital :	Rs.125.273 Millions
CIN No.: [Company Identification No.]	U27310MH2007PTC166941
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCB1736G
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in Repairs and Rehabilitation of Concrete Structures, Retrofitting, Coatings, Waterproofing, Corrosion Mitigation and Construction.
No. of Employees :	Information declined by the management

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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a subsidiary of N. S. Guzder and Company Private Limited. It is an established company having moderate track. The company possesses a weak financial performance marked by the recurring losses leading to accumulation of the same during FY14 owing to delays in completion of a construction project and the consequent cost overruns which resulted into highly leveraged capital structure and stretched cash flow position. Moreover, the risks of project implementation is however, expected to be mitigated to some extent by equity infusion from the part of promoters during the year under review. Trade relations seem to be fair. Business is active. Payment terms are reported as slow. Trade relations seem to be fair. Business is active. Payment terms are reported as slow. In view of long standing experience of the promoters in the repairs and rehabilitation industry, the company can be considered for business dealings with great 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 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term ratings=B
Rating Explanation	High risk of default regarding timely servicing of financial obligations.
Date	November, 2014

Rating Agency Name	ICRA
Rating	Short term ratings=A4
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	November, 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 31-03-2014.

INFORMATIONDENIED

Management Non Co-operative (91-22-22613415)

LOCATIONS

Registered Office :	Neville House, Currimbhoy Road, Ballard Estate, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-22613414 / 15
Fax No.:	91-22-22679613
E-Mail :	fguzder@bdsindia.com
Website :	www.bdsindia.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Cyrus Jamshed Guzder

Designation :

Director

Address :

D-11, Sea Face Park,, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

17.09.1945

Date of Appointment :

11.01.2007

DIN No.:

00080358

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	U35300MH1947PTC005720	AFL PRIVATE LIMITED	Managing director	19/08/1970	19/08/1970	-	Active	NO
2	U99999MH1956PTC009761	N S GUZDER AND COMPANY Private LIMITED	Director	11/09/1970	11/09/1970	-	Active	NO
3	U51209MH1978PLC020456	B P INDIA LIMITED	Director	30/06/1978	30/06/1978	-	Active	NO
4	U32301MH1980PTC022502	MAZDA JAYGEE ELECTRONICS (GANDEVI) PRIVATE LIMITED	Director	10/04/1980	10/04/1980	05/03/2012	Active	NO
5	U67120MH1985PTC037400	SEEJAY INVESTMENTS PVT LTD	Director	05/09/1985	05/09/1985	-	Active	NO
6	U51900MH1994PTC077194	Dachser India Private Limited	Director	21/03/1994	21/03/1994	-	Active	NO
7	U67120MH1985PTC037815	ERANGAL INVESTMENTS PVT LTD	Director	13/03/1998	13/03/1998	-	Active	NO
8	U63040MH1998PTC115025	CWT India Private Limited	Director	20/05/1998	20/05/1998	31/12/2010	Active	NO
9	L55101TN1996PLC036595	MAHINDRA HOLIDAYS & RESORTS INDIA LIMITED	Director	27/08/2014	07/08/1998	-	Active	NO
10	U70101MH1997PLC111936	ZEENIA REALTORS LIMITED	Director	09/12/1999	09/12/1999	-	Strike off	NO
11	U63090MH2001PTC133173	CYFAST Enterprises Private Limited	Director	28/08/2001	28/08/2001	-	Active	NO
12	U80302MH2001NPL132936	SPA EDUCATION FOUNDATION	Director	28/12/2001	28/12/2001	-	Active	NO
13	L35110MH1948PLC006472	THE GREAT EASTERN SHIPPING COMPANY LIMITED	Director	25/09/2014	14/03/2003	-	Active	NO
14	U72900MH2003PTC143667	INDGLOBAL NETWORK SUPPORT PRIVATE LIMITED	Director	26/12/2003	26/12/2003	-	Active	NO
15	U91990MH2005GAP157317	ASSOCIATION FOR PROTECTION OF ECO SENSITIVE AREAS	Director	16/11/2005	16/11/2005	-	Active	NO
16	U63040KA1978PTC050693	Quikjet Cargo Airlines Private Limited	Director	23/10/2006	23/10/2006	-	Active	NO
17	U27310MH2007PTC166941	BDS Projects India Private Limited	Director	11/01/2007	11/01/2007	-	Active	NO
18	U28920MH2007PTC173618	Nukote Coating Systems India Private Limited	Director	30/08/2007	30/08/2007	-	Active	NO
19	U74990MH2008NPL189117	INDIAN INSTITUTE FOR HUMAN SETTLEMENTS	Director	23/12/2008	23/12/2008	24/06/2014	Active	NO
20	U45200MH2008PTC179696	CJG Warehouse Infrastructure Private Limited	Director	30/09/2009	20/06/2009	-	Active	NO
21	U74900MH2008PTC179695	Rapidair Aviation Services Private Limited	Director	30/09/2009	20/06/2009	-	Active	NO
22	U30000MH2010PTC207901	Total Imaging Solutions Private Limited	Director	20/09/2010	20/09/2010	-	Active	NO
23	U93030MH2012PTC238559	Seejay Management Consultants Private Limited	Director	06/12/2012	06/12/2012	-	Active	NO

Name :

Mr. Statira Farrokh Wadia

Designation :

Director

Address :

8, Nagar Road, Yeravada, Pune – 411006, Maharashtra, India

Date of Birth/Age :

23.12.1943

Date of Appointment :

29.09.2009

DIN No.:

00108466

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	U35300MH1947PTC005720	AFL PRIVATE LIMITED	Director	01/01/2009	20/04/1994	-	Active	NO
2	U99999MH1956PTC009761	N S GUZDER AND COMPANY Private LIMITED	Director	14/12/1994	14/12/1994	-	Active	NO
3	U24200MH1978PTC020579	JAYGEE PHARMACEUTICALS PRIVATE LIMITED	Director	09/03/1998	09/03/1998	-	Active	NO
4	U91990MH2005GAP157317	ASSOCIATION FOR PROTECTION OF ECO SENSITIVE AREAS	Director	16/11/2005	16/11/2005	-	Active	NO
5	U27310MH2007PTC166941	BDS Projects India Private Limited	Director	29/09/2009	20/07/2009	-	Active	NO
6	U45200MH2008PTC179696	CJG Warehouse Infrastructure Private Limited	Director	30/09/2010	09/06/2010	-	Active	NO
7	U63090MH2001PTC133173	CYFAST Enterprises Private Limited	Director	29/09/2011	21/02/2011	-	Active	NO

Name :

Mr. Farokh Jamshed Guzder

Designation :

Director

Address :

132 EL-CID, Ridge Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

13.10.1950

Date of Appointment :

11.01.2007

DIN No.:

00108856

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	U32301MH1980PTC022502	MAZDA JAYGEE ELECTRONICS (GANDEVI) PRIVATE LIMITED	Director	10/04/1980	10/04/1980	26/03/2012	Active	NO
2	U99999MH1956PTC009761	N S GUZDER AND COMPANY Private LIMITED	Director	01/04/1981	01/04/1981	-	Active	NO
3	U35300MH1947PTC005720	AFL PRIVATE LIMITED	Whole-time director	01/05/1981	01/05/1981	-	Active	NO
4	U51209MH1978PLC020456	B P INDIA LIMITED	Director	05/11/1984	05/11/1984	-	Active	NO
5	U67120MH1985PTC037395	JAMSHED INVESTMENTS PRIVATE LIMITED	Director	05/09/1985	05/09/1985	-	Active	NO
6	U51900MH1994PTC077194	Dachser India Private Limited	Director	21/03/1994	21/03/1994	17/09/2014	Active	NO
7	U65990MH1998PTC113599	EFGEE SECURITIES PRIVATE LIMITED	Director	25/03/1998	25/03/1998	-	Active	NO
8	U63040MH1998PTC115025	CWT India Private Limited	Director	20/05/1998	20/05/1998	03/07/2007	Active	NO
9	U70101MH1997PLC111936	ZEENIA REALTORS LIMITED	Director	09/12/1999	09/12/1999	-	Strike off	NO
10	U72900MH2003PTC143667	INDGLOBAL NETWORK SUPPORT PRIVATE LIMITED	Director	26/12/2006	26/12/2006	-	Active	NO
11	U27310MH2007PTC166941	BDS Projects India Private Limited	Director	11/01/2007	11/01/2007	-	Active	NO
12	U28920MH2007PTC173618	Nukote Coating Systems India Private Limited	Director	30/08/2007	30/08/2007	-	Active	NO
13	U63090MH2001PTC133173	CYFAST Enterprises Private Limited	Director	30/09/2008	22/08/2008	-	Active	NO
14	U45200MH2008PTC179696	CJG Warehouse Infrastructure Private Limited	Director	30/09/2010	09/06/2010	-	Active	NO
15	U30000MH2010PTC207901	Total Imaging Solutions Private Limited	Director	20/09/2010	20/09/2010	-	Active	NO
16	L63090GA1963PLC000002	CHOWGULE STEAMSHIPS LIMITED	Director	09/07/2014	06/07/2012	-	Active	NO

Name :

Mr. Suryanarayanan S

Designation :

Director

Address :

52, Sagar Tarang, 81/83, Bhulabhai Desai Road, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

04.05.1958

Date of Appointment :

29.09.2009

DIN No.:

00444230

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	U99999MH1956PTC009761	N S GUZDER AND COMPANY Private LIMITED	Director	19/10/2002	19/10/2002	-	Active	NO
2	U64120TN2003PTC051265	FRANCH EXPRESS NET WORK PRIVATE LIMITED	Director	28/03/2006	28/03/2006	25/06/2008	Active	NO
3	U63040KA1978PTC050693	Quikjet Cargo Airlines Private Limited	Director	07/11/2006	07/11/2006	-	Active	NO
4	U45201MH2007PTC173777	Charif Warehouse & Developers Private Limited	Director	03/09/2007	03/09/2007	23/05/2008	Strike off	NO
5	U45207MH2007PTC174192	CHARIF REAL ESTATE DEVELOPERS PRIVATE LIMITED	Director	17/09/2007	17/09/2007	23/05/2008	Strike off	NO
6	U31401MH2007PTC174189	CHARIF PROPERTY DEVELOPERS PRIVATE LIMITED	Director	17/09/2007	17/09/2007	23/05/2008	Strike off	NO
7	U63023MH2007PTC176412	Sealand Warehousing Private Limited	Director	30/09/2009	12/06/2009	20/06/2012	Active	NO
8	U27310MH2007PTC166941	BDS Projects India Private Limited	Director	29/09/2009	20/07/2009	-	Active	NO
9	U45200MH2008PTC179557	SOUTH ASIA TERMINALS PRIVATE LIMITED	Nominee director	30/06/2010	19/08/2009	-	Active	NO
10	U74140MH2009PTC197368	ICE X ACCESSORIES PRIVATE LIMITED	Director	26/11/2009	26/11/2009	18/05/2010	Active	NO
11	U63010MH1993PLC075480	HINDUSTAN CARGO LIMITED	Nominee director	30/06/2010	03/06/2010	-	Active	NO
12	U74900MH2010PTC201286	Credo Shipping Agencies (I) Private Limited	Director	28/09/2012	25/11/2011	-	Active	NO
13	U74999MH2011PLC218842	HC LOGISTICS LIMITED	Director	30/09/2014	30/09/2014	-	Active	NO

Name :

Mr. Jamshed Farokh Guzder

Designation :

Director

Address :

132, ELCID, Ridge Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

11.03.1983

Date of Appointment :

29.09.2009

DIN No.:

02593842

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	U27310MH2007PTC166941	BDS Projects India Private Limited	Director	29/09/2009	20/07/2009	-	Active	NO
2	U99999MH1956PTC009761	N S GUZDER AND COMPANY Private LIMITED	Whole-time director	01/06/2012	27/10/2009	-	Active	NO
3	U67120MH1985PTC037395	JAMSHED INVESTMENTS PRIVATE LIMITED	Director	29/09/2012	10/07/2012	-	Active	NO
4	AAC-5912	NEW CLEAR IDEAS LLP	Designated Partner	14/08/2014	14/08/2014	-	Active	NO

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Equity Shareholders	No. of Shares
N S Guzder And Company Private Limited	1509990
Jamshed Investment Private Limited	838500
Cyrus Jamshed Guzder	228803
Statira Farrokh Wadia	200000
Farokh Jamshed Guzder	5
Jamshed Farokh Guzder	2
Total	2777300

Names of Preference Shareholders	No. of Shares
N S Guzder And Company Private Limited	582000
Jamshed Investment Private Limited	260000
Statira Farrokh Wadia	52000
Erangal Investments Private Limited	50000
Seejay Investments Private Limited	21000
Farrokh Farmji Wadia	10000
Total	975000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	84.56
Directors or relatives of Directors	15.44
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in Repairs and Rehabilitation of Concrete Structures, Retrofitting, Coatings, Waterproofing, Corrosion Mitigation and Construction.
Products :	Concrete Structures Retrofitting Coatings Waterproofing Corrosion Mitigation Construction
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Information declined by the management

Bankers :

• The Zoroastrian Co-Operative Bank Limited, Fort Branch, Yusuf Building, Ground Floor, V N Road, Fort, Mumbai – 400001, Maharashtra, India
• Union Bank of India, Mumbai Samachar Marg Branch, 66/80, Mumbai – 400023, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	0.333	1.519
Total	0.333	1.519

Banking Relations :	--
Auditors :
Name :	Nipun Sudhir and Associates Chartered Accountant
Address :	505, 5th Floor, Tulsiani Chambers Free, Press Journal, Marg 212 Nariman Point, Mumbai, Maharashtra, India
PAN No.:	AAFFN2832A
Membership :	--
Holding Company :	N. S. Guzder and Company Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions
975000	Preference Shares	Rs.100/- each	Rs.97.500 Millions
	Total		Rs.127.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2777300	Equity Shares	Rs.10/- each	Rs.27.773 Millions
975000	Preference Shares	Rs.100/- each	Rs.97.500 Millions
	Total		Rs.125.273 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	125.273	97.600	97.600
(b) Reserves & Surplus	(87.924)	(25.244)	8.168
(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)	37.349	72.356	105.768
(3) Non-Current Liabilities
(a) long-term borrowings	115.575	80.194	27.158
(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	4.423	4.780	1.598
Total Non-current Liabilities (3)	119.998	84.974	28.756
(4) Current Liabilities
(a) Short term borrowings	3.267	4.828	0.000
(b) Trade payables	68.597	115.755	73.397
(c) Other current liabilities	36.321	47.057	35.397
(d) Short-term provisions	0.000	0.000	4.548
Total Current Liabilities (4)	108.185	167.640	113.342
TOTAL	265.532	324.970	247.866
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	31.744	36.181	35.287
(ii) Intangible Assets	0.278	0.093	0.000
(iii) Capital work-in-progress	0.000	0.000	0.131
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.100	0.100	0.100
(c) Deferred tax assets (net)	1.081	1.305	0.486
(d) Long-term Loan and Advances	11.348	12.303	20.136
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	44.551	49.982	56.140
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	24.808	49.640	44.766
(c) Trade receivables	107.501	161.742	108.403
(d) Cash and cash equivalents	27.913	26.484	25.037
(e) Short-term loans and advances	60.759	37.122	13.520
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	220.981	274.988	191.726
TOTAL	265.532	324.970	247.866

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income			NA
		Other Income			NA
		TOTAL			NA
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION				29.220
Less	FINANCIAL EXPENSES				4.049
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		NA	NA	25.171
Less/ Add	DEPRECIATION/ AMORTISATION				5.831
	PROFIT / (LOSS) BEFORE TAX				19.340
	Exceptional Items				17.182
Less	TAX				1.518
	PROFIT / (LOSS) AFTER TAX		(62.680)	(37.961)	0.640
	Excess / (Short) Provision of Tax : Prior Years		NA	NA	1.157
	Profit / (Loss) for The Year		NA	NA	(0.517)
	Earnings Per Share (Rs.)		NA	NA	64.00

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	7.83
Return on Investment (ROI) (PBT/Networth)		NA	NA	0.18
Debt Equity Ratio (Total Debt /Networth)		3.18	1.18	0.26
Current Ratio (Current Asset/Current Liability)		2.04	1.64	1.69

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	97.600	97.600	125.273
Reserves & Surplus	8.168	(25.244)	(87.924)
Net worth	105.768	72.356	37.349
long-term borrowings	27.158	80.194	115.575
Short term borrowings	0.000	4.828	3.267
Total borrowings	27.158	85.022	118.842
Debt/Equity ratio	0.257	1.175	3.182

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	No
10]	Designation of contact person	No
11]	Turnover of firm for last one year	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	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	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
Long Term Borrowings
Intercorporate deposits	24.915	27.500
Loans and advances from related parties	90.327	51.175
Short Term Borrowings
Term loans from banks	2.044	18.589
Other loans and advances	1.223	(13.761)
Total	118.509	83.503

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10444685	14/08/2013	82,500,000.00	UNION BANK OF INDIA	MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMACHAR MARG,, MUMBAI, MAHARASHTRA - 400023, INDIA	B82930140
2	10273303	14/08/2013 *	10,000,000.00	UNION BANK OF INDIA	MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMACHAR MARG,, MUMBAI, MAHARASHTRA - 400023, INDIA	B82930389
3	10273305	09/02/2011	5,000,000.00	UNION BANK OF INDIA	MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMACHAR MARG,, MUMBAI, MAHARASHTRA - 400023, INDIA	B07126626

*Date of modification Charges

FIXED ASSETS:

· Vehicles

· Plant and Machinery

· Computers

· Office Equipments

· Furniture and Fixtures

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.62.14
UK Pound	1	Rs.97.05
Euro	1	Rs.77.37

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	SUB
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--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	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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--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.