MIRA INFORM REPORT

Report Date :

04.12.2014

IDENTIFICATION DETAILS

Name :	RIDDHI TECHAUTO INDUSTRIES PRIVATE LIMITED
Registered Office :	D-17, Phase – III, Satya Wati Nagar, Ashok Vihar, New Delhi – 110052
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.11.2013
Com. Reg. No.:	55-260034
Capital Investment / Paid-up Capital :	Rs. 0.600 Million
CIN No.: [Company Identification No.]	U74900DL2013PTC260034
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELR23383D
PAN No.: [Permanent Account No.]	AAGCR6932B
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer and Supplier of Automotive Products.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively new business having moderate track. Management has witnessed a minimal revenue, whereas has reported a loss from its, first year of operations which has eroded its capital base during financial year 2014. However, business is active. Payment terms are slow. The company can be considered for business dealings on a safe and secured trade terms and conditions.

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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.

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. Anuj Minda
Designation :	Director
Contact No.:	91-9717766180
Date :	04.12.2014

LOCATIONS

Registered Office :	D-17, Phase – III, Satya Wati Nagar, Ashok Vihar, New Delhi – 110052, India
Tel. No.:	Not Available
Mobile No.:	Not Available
Fax No.:	Not Available
E-Mail :	pradeep.mann@minda.co.in
Factory :	Khet No. 84, Plot No.3, Fulshungi, Rudrapur, US Nagar, Uttarakhand, India

DIRECTORS

As On 30.09.2014

Name :

Pradeep Mann

Designation :

Director

Address :

H No. 63, Sarai Pipal, Thala, Delhi – 110033, India

Date of Birth/Age :

16.09.1979

Date of Appointment :

07.11.2013

DIN No.:

00009478

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	U34300DL2001PLC110779	SAM MANUFACTURING LTD	Director	10/05/2001	10/05/2001	16/04/2007	Active	NO
2	U34102DL1999PLC098741	MINDA S.M. TECHNOCAST LIMITED	Director	26/09/2009	06/01/2009	-	Active	NO
3	U51109DL1995PLC198384	DHANSAFAL VYAPAAR LTD.	Director	29/09/2009	01/09/2009	-	Amalgamated	NO
4	U51109DL1994PLC217381	WHITELINE BARTER LIMITED	Director	19/09/2009	01/09/2009	-	Active	NO
5	U31300DL1996PLC083438	MINDA CAPITAL LIMITED	Whole-time director	01/03/2013	01/03/2010	07/12/2013	Active	NO
6	U74900DL2013PTC260034	RIDDHI TECHAUTO INDUSTRIES PRIVATE LIMITED	Director	07/11/2013	07/11/2013	-	Active	NO
7	U74140DL2013PTC260092	R & N TECHAUTO INDUSTRIES PRIVATE LIMITED	Director	08/11/2013	08/11/2013	-	Active	NO

Name :

Rajeev Garg

Designation :

Director

Address :

B-79, CC Colony, Delhi – 110007, India

Date of Birth/Age :

01.03.1967

Date of Appointment :

07.11.2013

DIN No.:

00047780

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	U51109DL2005PTC237508	LAIRY DISTRIBUTORS PRIVATE LIMITED	Director	29/09/2012	02/12/2011	-	Amalgamated	NO
2	U45400DL2007PTC170528	SWEET HOME BUILDWELL PRIVATE LIMITED	Director	28/09/2013	05/01/2013	-	Active	NO
3	U45200DL2007PTC158247	NEW DELHI INFRATECH PRIVATE LIMITED	Director	30/09/2013	05/01/2013	-	Active	NO
4	U74899DL1995PTC070635	JAINCO FINLEASE AND INVESTMENT PRIVATE LIMITED	Director	24/09/2013	28/01/2013	-	Active	NO
5	U74900DL2013PTC260034	RIDDHI TECHAUTO INDUSTRIES PRIVATE LIMITED	Director	07/11/2013	07/11/2013	-	Active	NO
6	U74140DL2013PTC260092	R & N TECHAUTO INDUSTRIES PRIVATE LIMITED	Director	08/11/2013	08/11/2013	-	Active	NO

Name :

Anuj Minda

Designation :

Director

Address :

D-17, Satya Wati Nagar, PH -3, Ashok Vihar, Delhi – 110052, India

Date of Birth/Age :

18.11.1979

Date of Appointment :

11.11.2013

DIN No.:

06712266

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Rajeev Garg	9999	16.67
Pradeep Mann	1	0.00
Anuj Minda	50000	83.33
Total	60000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of Automotive Products.
Products :	· Threaded Shafts · Crank Shafts · Axle Pin · Metal Bushes · Ms Seamless Pipes · Ms Shaft · Pin Shaft · Treaded Bush · Ms Pin
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Available
Purchasing :	Not Available

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

100 (Approximately)

Bankers :

Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)
LONG TERM BORROWINGS
Term loan from bank	6.095
SHORT TERM BORROWINGS
Working capital loan from bank	2.537
Total	8.632

Auditors :
Name :	R.N. Saraf and Company Chartered Accountant
Address :	2659/2 Gurdwara Road, Karol Bagh, Delhi – 110005, India
PAN No.:	AATPS5918C
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As On 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
250,000	Equity Shares	Rs. 10/- each	Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
60,000	Equity Shares	Rs. 10/- each	Rs. 0.600 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.600
(b) Reserves & Surplus	(0.993)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	(0.393)
(3) Non-Current Liabilities
(a) long-term borrowings	6.095
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	6.095
(4) Current Liabilities
(a) Short term borrowings	2.537
(b) Trade payables	14.417
(c) Other current liabilities	5.986
(d) Short-term provisions	0.000
Total Current Liabilities (4)	22.940
TOTAL	28.642
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	16.499
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.444
(d) Long-term Loan and Advances	0.388
(e) Other Non-current assets	0.000
Total Non-Current Assets	17.331
(2) Current assets
(a) Current investments	0.000
(b) Inventories	7.312
(c) Trade receivables	3.152
(d) Cash and cash equivalents	0.216
(e) Short-term loans and advances	0.631
(f) Other current assets	0.000
Total Current Assets	11.311
TOTAL	28.642

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Income	15.965
		Other Income
		TOTAL	15.965
Less	EXPENSES
		TOTAL	17.402
	PROFIT/ (LOSS) BEFORE TAX		(1.437)
Less	TAX		(0.445)
	PROFIT/ (LOSS) AFTER TAX		(0.992)
	Earnings / (Loss) Per Share (Rs.)		(16.53)

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin PAT / Sales	(%)	(9.00)
Operating Profit Margin (PBDIT/Sales)	(%)	(6.21)
Return on Total Assets (PBT/Total Assets}	(%)	(5.10)
Return on Investment (ROI) (PBT/Networth)		3.66
Debt Equity Ratio (Total Liability/Networth)		(21.96)
Current Ratio (Current Asset/Current Liability)		0.49

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one year	Yes
12]	Profitability for last one year	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	No
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	No
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

INDEX OF CHARGES

No Charges Exist For The Company.

FIXED ASSETS

· Buildings

· Plant and Machinery

· Electric Fitting

· Office Equipment

· Furniture and Fixtures

· Computer Hardware

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] 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. 61.87
UK Pound	1	Rs. 96.83
Euro	1	Rs. 76.57

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUB
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.