MIRA INFORM REPORT

Report Date :

03.12.2014

IDENTIFICATION DETAILS

Name :	ARSHIYA SUPPLY CHAIN MANAGEMENT PRIVATE LIMITED (w.e.f. 29.07.2009)

Formerly Known As :	GENCO (INDIA) PRIVATE LIMITED(w.e.f. 25.10.2007) BDP GENCO (INDIA) PRIVATE LIMITED

Registered Office :	Unit No. A1, 4^th Floor, Cnergy, Appa Sahab Marathe Marg, Prabhadevi, Mumbai – 400025, Maharashtra

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	13.11.2006

Com. Reg. No.:	11-165506

Capital Investment / Paid-up Capital :	Rs.16.000 Millions

CIN No.: [Company Identification No.]	U63013MH2006PTC165506

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	MUMB16845D

PAN No.: [Permanent Account No.]	AADCB0001C

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the business of providing end-to-end supply and demand chain solutions.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Exist

Comments :	Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are fair. Business is active. Payment terms are reported as 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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

India

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

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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Chandan Thakur
Designation :	Accountant
Contact No.:	91-22-42305500
Date :	02.11.2014

LOCATIONS

Registered Office :	6th Floor, 'C' Wing, Twin Arcade, Military Road, Marol Maroshi, Andheri (East), Mumbai-400059, Maharashtra, India
Tel. No.:	91-22-42305500
Fax No.:	Not Available
E-Mail :	sanjeev.sengar@arshiyainternational.com info@arshiyalimited.com
Website :	www.arshiyainternational.com

Factory :	Village – Sai , Talkuka – Panvel District Raigad – 410206, India

DIRECTORS

As on 06.08.2013

Name :

Ajay Shankarlal Mittal

Designation :

Additional director

Address :

Mittal Bhavan, 62-A, Pedder Road, Mumbai - 400026, Maharashtra, India

Date of Appointment :

27.08.2014

DIN No.:

00226355

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	U33110MH1988PLC050057	MEGA MEDITEX LIMITED	Director	15/12/88	15/12/88	-	Under liquidation	NO
2	U28993MH1990PTC059009	MEGA SAFE DEPOSIT VAULTS PRIVATE LIMITED	Director	19/02/91	19/02/91	-	Under liquidation	NO
3	U01110MH1990PTC057629	SUNWELL FARMS PRIVATE LIMITED	Director	04/10/91	04/10/91	10/10/07	Active	NO
4	L65990MH1982PLC027165	MEGA FIN (INDIA) LIMITED	Director	12/12/91	12/12/91	-	Active	NO
5	U65990MH1994PTC080431	MEGA CAPITAL BROKING PRIVATE LIMITED	Director	18/08/94	18/08/94	-	Active	NO
6	U99999MH1987PLC044943	MEGAVISA MARKETING AND SOLUTIONS LIMITED	Managing director	08/02/01	08/02/01	27/10/09	Under liquidation	NO
7	U84200MH1992PLC069045	MEGA CUSTODIAL SERVICES LTD	Director	26/09/02	26/09/02	-	Active	NO
8	L27320MH1981PLC024747	Arshiya Limited	Managing director	01/10/11	31/12/05	-	Active	NO
9	U63013MH2006PTC165506	ARSHIYA SUPPLY CHAIN MANAGEMENT PRIVATE LIMITED	Additional director	27/08/14	13/11/06	-	Active	NO
10	U63023MH2007PLC176547	ARSHIYA FTWZ LIMITED	Director	07/12/07	07/12/07	11/02/10	Amalgamated	NO
11	U63011MH2007PLC176601	Arshiya Domestic Distripark Limited	Director	10/12/07	10/12/07	11/02/10	Amalgamated	NO
12	U93090MH2008PTC178149	Flat World Processes Private Limited	Director	23/01/08	23/01/08	01/04/09	Active	NO
13	U63030MH2008PLC178353	Arshiya Western FTWZ Limited	Director	29/01/08	29/01/08	28/02/12	Active	NO
14	U65993MH2007PTC175592	NINE RIVERS CAPITAL HOLDINGS PRIVATE LIMITED	Additional director	19/03/08	19/03/08	18/05/11	Active	NO
15	U45200MH2008PLC180907	ARSHIYA RAIL INFRASTRUCTURE LIMITED	Managing director	28/10/09	07/04/08	-	Active	NO
16	U63000MH2008PLC182929	ARSHIYA INDUSTRIAL & DISTRIBUTION HUB LIMITED	Director	30/05/08	30/05/08	-	Active	NO
17	U51109MH2008PLC183555	Arshiya Northern FTWZ Limited	Director	16/06/08	16/06/08	-	Active	NO
18	U74999MH2009PTC197253	AMD Business Support Services Private Limited	Director	24/11/09	24/11/09	24/05/11	Active	NO
19	U70102MH2009PTC197362	RUDRADEV PROPERTIES PRIVATE LIMITED	Director	26/11/09	26/11/09	-	Active	NO
20	U70102MH2010PTC198559	ROCKHILL PROPERTIES PRIVATE LIMITED	Director	06/01/10	06/01/10	15/10/13	Active	NO
21	U74990MH2010PLC199940	ARSHIYA RAIL SIDING AND INFRASTRUCTURE LIMITED	Director	10/02/10	10/02/10	-	Active	NO
22	U72900MH2009PTC197769	Welldone Software Consultancy Private Limited	Director	30/09/10	11/02/10	15/10/13	Active	NO
23	U93000MH2009PTC197482	CASTLELINO CONSULTANCY PRIVATE LIMITED	Director	30/09/10	11/02/10	-	Active	NO
24	U63030MH2010PLC200604	ARSHIYA TRANSPORT AND HANDLING LIMITED	Director	05/03/10	05/03/10	-	Active	NO
25	U74900MH2010PLC201330	Arshiya Lifestyle Limited	Director	26/03/10	26/03/10	-	Active	NO

Name :

Navnit Jugal Kishore Choudhary

Designation :

Director

Address :

Mulji Nagar 2 D, Borivali (West), Mumbai - 400092, Maharashtra, India

Date of Birth/Age :

14.03.1975

Date of Appointment :

06.08.2013

DIN No.:

00613576

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	U15130MH2005PTC156326	RAIN FRUITS AND MORE PRIVATE LIMITED	Director	31/07/06	31/07/06	31/01/08	Active	NO
2	U91100MH2012NPL233995	MAHA ASSOCIATION SEZ INFRASTRUCTURE DEVELOPERS	Director	31/07/12	31/07/12	-	Active	NO
3	U63013MH2006PTC165506	ARSHIYA SUPPLY CHAIN MANAGEMENT PRIVATE LIMITED	Director	06/08/13	01/10/12	-	Active	NO
4	U63010MH2008PLC183826	ARSHIYA EASTERN DOMESTIC DISTRIPARK LIMITED	Director	30/09/13	15/01/13	27/08/14	Active	NO
5	U63023MH2008PLC183821	ARSHIYA WESTERN DOMESTIC DISTRIPARK LIMITED	Director	30/09/13	15/01/13	05/02/14	Active	NO
6	U63010MH2008PLC183822	ARSHIYA SOUTHERN DOMESTIC DISTRIPARK LIMITED	Director	30/09/13	15/01/13	30/07/14	Active	NO
7	U65990MH1994PTC080431	MEGA CAPITAL BROKING PRIVATE LIMITED	Director	30/09/13	15/01/13	27/08/14	Active	NO
8	U74140MH1993PTC070458	MEGA MANAGEMENT SERVICES PRIVATE LIMITED	Director	30/09/13	15/01/13	27/08/14	Active	NO
9	U63000MH2008PLC183791	LAXMIPATI BALAJI EXIM TRADING LIMITED	Director	30/09/13	15/01/13	27/08/14	Active	NO
10	U84200MH1992PLC069045	MEGA CUSTODIAL SERVICES LTD	Director	30/09/13	15/01/13	27/08/14	Active	NO
11	U72300MH2007PTC175427	Arshiya Technologies (India) Private Limited	Director	06/08/13	15/01/13	-	Active	NO
12	U63011MH2008PLC183792	Arshiya Central FTWZ Limited	Director	06/08/13	15/01/13	-	Active	NO
13	U63023MH2008PLC183793	ARSHIYA CENTRAL DOMESTIC DISTRIPARK LIMITED	Director	30/09/13	15/01/13	-	Active	NO
14	U63030MH2008PLC178353	Arshiya Western FTWZ Limited	Director	30/09/13	15/01/13	-	Active	NO
15	U63010MH2008PLC183823	FORTUNE MULTISOLUTIONS LIMITED	Director	30/09/13	15/01/13	-	Active	NO
16	U45200MH2008PLC180907	ARSHIYA RAIL INFRASTRUCTURE LIMITED	Director	06/08/13	15/01/13	-	Active	NO
17	U63030MH2010PLC200604	ARSHIYA TRANSPORT AND HANDLING LIMITED	Director	06/08/13	25/01/13	-	Active	NO
18	U93090MH2008PTC178149	Flat World Processes Private Limited	Director	30/09/13	31/01/13	27/08/14	Active	NO
19	U70101MH2011PTC211725	NORDICA REALTY PRIVATE LIMITED	Director	30/09/13	13/08/13	27/08/14	Active	NO
20	U51109MH2008PLC183555	Arshiya Northern FTWZ Limited	Additional director	21/08/13	21/08/13	-	Active	NO
21	U74990MH2010PLC199940	ARSHIYA RAIL SIDING AND INFRASTRUCTURE LIMITED	Additional director	21/08/13	21/08/13	-	Active	NO
22	U63000MH2008PLC182929	ARSHIYA INDUSTRIAL & DISTRIBUTION HUB LIMITED	Additional director	21/08/13	21/08/13	-	Active	NO
23	U74999MH2009PTC197253	AMD Business Support Services Private Limited	Additional director	31/03/14	31/03/14	-	Active	NO

Name :

Ranjit Ray

Designation :

Additional director

Address :

Flat No. 417, Phase - 1B, Susheela Sea Winds, Vaddem, Vasco - 403802, Goa, India

Date of Appointment :

21.08.2013

DIN No.:

03341453

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	U63090MH1991PTC060283	AGIL FREIGHT LOGISTICS PRIVATE LIMITED	Director	22/12/11	22/12/11	05/05/12	Active	NO
2	U51109MH2008PLC183555	Arshiya Northern FTWZ Limited	Additional director	21/08/13	21/08/13	-	Active	NO
3	U63013MH2006PTC165506	ARSHIYA SUPPLY CHAIN MANAGEMENT PRIVATE LIMITED	Additional director	21/08/13	21/08/13	-	Active	NO
4	U63011MH2008PLC183792	Arshiya Central FTWZ Limited	Additional director	21/08/13	21/08/13	-	Active	NO
5	U63000MH2008PLC182929	ARSHIYA INDUSTRIAL & DISTRIBUTION HUB LIMITED	Additional director	21/08/13	21/08/13	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Chandan Thakur
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 06.08.2013

Names of Shareholders	No. of Shares	%age
Arshiya International Limited, India	1599900	99.99
Archana Ajay Mittal	100	0.01

Total	1600000	100.00

As on 31.03.2014

Names of Shareholders	No. of Shares
Arshiya Limited, India	1708333
Arshiya Northern FTWZ Limited, India	478787

Total	2187120

As on 06.08.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of providing end-to-end supply and demand chain solutions.

Products :

Item Code No. (ITC Code)	Product Description
74191010	Supply and Chain Management

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Not Divulged

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from bank	800.000	800.000

Total	800.000	800.000

Financial Institution :	Future Capital Holdings Limited, 15^th Floor, Tower -2, Indiabulls Finance Centre, Senapati Bapat Marg, Elphinstone, Mumbai - 400013, Maharashtra, India

Auditors :
Name :	M I Mehta and Associates Chartered Accountants
Address :	Office No. 5, 3^rd Floor, Niloo Mansion Plot No. 28, Jawahar Nagar, S V Road, Opposite Citi Centre, Goregaon (West), Mumbai – 400062, India
PAN No. :	AAAPM8456C

Memberships :	--

Collaborators :	--

Holding Company :	v Arshiya International Limited

Fellow Subsidiaries :	v Arshiya Rail Infrastructure Limited v Arshiya International Singapore Pte Limited v Arshiya Hong Kong Limited v Arshiya Rail Siding and Infrastructure Limited v Arshiya Logistics LLC Dubai (formerly known as BDP (Dubai) LLC) v Arshiya Transport and Handling Limited. v Cyberlog Technologies International Pte Limited Singapore v Arshiya Technologies (India) Pvt. Limited v Cyberlog Technologies Hong Kong Limited (up to 28^th March 2013) v Cyberlog Technologies (UAE) FZE v Arshiya Industrial and Domestic Hub Limited v Arshiya Central FTWZ Limited v Arshiya Northern FTWZ Limited v Arshiya FTWZ Limited() v Arshiya Domestic Distiripark Limited() v (*) Merged with the Parent Holding Company with effect from 1st April 2012 as per Hon’ble High Court of Bombay dated 7th December 2012.

CAPITAL STRUCTURE

After 06.08.2013

Authorised Capital : Rs. 40.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 37.871 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

16000000	Equity Shares	Rs.10/- each	Rs.16.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	16.000	16.000	16.000
(b) Reserves & Surplus	435.479	603.828	(13.913)
(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)	451.479	619.828	2.087

(3) Non-Current Liabilities
(a) long-term borrowings	800.000	800.000	0.000
(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	2.127	2.407	1.449
Total Non-current Liabilities (3)	802.127	802.407	1.449

(4) Current Liabilities
(a) Short term borrowings	10.317	0.000	55.490
(b) Trade payables	723.243	358.209	168.122
(c) Other current liabilities	153.211	31.499	24.156
(d) Short-term provisions	33.038	61.272	5.599
Total Current Liabilities (4)	919.809	450.980	253.367

TOTAL	2173.415	1873.215	256.903

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.366	5.385	5.253
(ii) Intangible Assets	0.349	0.640	3.135
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	4.865	3.780	0.649
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	77.889	4.745	5.914
(d) Long-term Loan and Advances	2.000	700.000	0.000
(e) Other Non-current assets	139.407	144.507	0.341
Total Non-Current Assets	228.876	859.057	15.292

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	1.281
(c) Trade receivables	1933.419	959.741	230.062
(d) Cash and cash equivalents	3.047	43.256	5.003
(e) Short-term loans and advances	1.277	2.128	0.278
(f) Other current assets	6.796	9.033	4.987
Total Current Assets	1944.539	1014.158	241.611

TOTAL	2173.415	1873.215	256.903

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	2091.000	1805.900	338.500

Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	2332.500	1185.300	336.100

	PROFIT/ (LOSS) BEFORE TAX		(241.500)	620.600	2.400

Less	TAX		(73.200)	2.900	1.100

	PROFIT/ (LOSS) AFTER TAX		(168.300)	617.700	1.300

	Earnings / (Loss) Per Share (Rs.)		(10.52)	38.61	0.08

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	(11.55)	33.28	0.96

Return on Investment (ROI) (PBT/Networth)		(0.53)	1.00	1.15

Debt Equity Ratio (Total Debt/Networth)		1.79	1.29	26.59

Current Ratio (Current Asset/Current Liability)		2.11	2.25	0.95

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	16.000	16.000	16.000
Reserves & Surplus	(13.913)	603.828	435.479
Net worth	2.087	619.828	451.479

long-term borrowings	0.000	800.000	800.000
Short term borrowings	55.490	0.000	10.317
Total borrowings	55.490	800.000	810.317
Debt/Equity ratio	26.588	1.291	1.795

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	338.500	1805.900	2091.000
		433.501	15.787

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	338.500	1805.900	2091.000
Profit	1.300	617.700	(168.300)
	0.38%	34.20%	(8.05%)

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	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	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

LITIGATION DETAILS

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Presentation Date:- 18.11.2013

Lodging No.:- SL/1016/2013 Filing Date:- 11.11.2013 Reg. No.:- S/310/2014Reg. Date:- 03.04.2014

Petitioner: CAPITAL FIRST LIMITED Respondent: ARSHIYA SUPPLY CHAIN

MANAGEMENT PRIVATE LIMITED

Petn. Adv : NAIK NAIK AND COMPANY (I224)

District: MUMBAI

Bench: SINGLE

Status: Pre-Admission Category: SPECIFIC PERFORMANCE SUIT

Next Date : 18.12.2014 Stage: FOR DIRECTION

Coram : RREGISTRAR (OS)/ PROTHONOTARY AND SR. MASTER

Last Date: 09.09.2014 Stage: FOR DIRECTION

Last Coram: REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER

Act: code of Civil Procedure 1908

NOTE:

The registered address of the company has been shifted from 402, Level 4, Cee Jay House, F-Block, Shiv Sagar Estate, Dr. Annie Besant Road, Worli, Mumbai – 40018, Maharashtra, India to the present address w.e.f 26.08.2013

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Intercorporate Borrowing	10.317	0.000

Total	10.317	0.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10506820	25/03/2014	1,000,000,000.00	CAPITAL FIRST LIMITED	15th Floor, Tower -2, Indiabulls Finance Centre, Senapati Bapat Marg, Elphinstone, MUMBAI, Maharashtra - 400013, INDIA	C09705682
2	10351909	21/03/2012	850,000,000.00	FUTURE CAPITAL HOLDINGS LIMITED	15th Floor, Tower -2, Indiabulls Finance Centre, Senapati Bapat Marg, Elphinstone, MUMBAI, Maharashtra - 400013, INDIA	B38284949
3	10351930	21/03/2012	1,150,000,000.00	FUTURE CAPITAL HOLDINGS LIMITED	15th Floor, Tower -2, Indiabulls Finance Centre, Senapati Bapat Marg, Elphinstone, MUMBAI, Maharashtra - 400013, INDIA	B38291381

BUSINESS AND OPERATIONS

Subject provides end-to-end supply and demand chain solutions and is committed to evolving end-to-end strategic and innovative solutions across supply chain management. These solutions are then executed, managed and monitored with extreme precision to achieve considerable savings. The savings accrued are borne from the efficiencies of the enhanced system and help boost profitability by lowering costs.

The company has successfully offered customized solutions to various clients enabling better control of their supply chain operations and thus bringing down costs drastically.

The Company’s performance up to September, 2012 was satisfactory. However due to economic conditions and general down turn the Company’s performance suffered and the Company came under financial stress.

FIXED ASSETS

œ Furniture and Fixtures

œ Plant and Equipment

œ Furniture and Fixtures

œ Office Equipment

œ Computer Equipments

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.61.92
UK Pound	1	Rs.97.39
Euro	1	Rs.77.21

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	RAS

Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	1
--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	YES
--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		26

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.

MIRA INFORM REPORT

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