MIRA INFORM REPORT

Report Date :

03.01.2014

IDENTIFICATION DETAILS

Name :	GREEN SHIELD ENTERPRISES PRIVATE LIMITED (w.e.f. 11.07.2012)
Formerly Known As :	MEALTREE E-SOLUTIONS PRIVATE LIMITED
Registered Office :	Room No. 5, Hetal Apartment, N.S. Road, Mulund (West), Mumbai – 400080, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	14.07.2008
Com. Reg. No.:	11-184619
Capital Investment / Paid-up Capital :	Rs. 20.000 Million
CIN No.: [Company Identification No.]	U74900MH2008PTC184619
TAN No.: [Tax Deduction & Collection Account No.]	PNEG14650G
PAN No.: [Permanent Account No.]	AAECG8284B/ AAAPW6890B
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Textiles.
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 86000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. There appears huge external borrowings recorded by the company during 2013. Profitability of the company alos appears to be low. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some caution.

NOTES :

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

ECGC Country Risk Classification List – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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

India’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Proposed Short-term Bank loan facility: “A4”
Rating Explanation	Have minimal degree of safety and carry very high credit risk.
Date	07.06.2013

Rating Agency Name	CRISIL
Rating	Cash Credit: “B”
Rating Explanation	Have high risk of default.
Date	07.06.2013

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. Sandeep Agrahari
Designation :	Accounts Executive
Contact No.:	91-22-25684733
Date :	31.12.2013

LOCATIONS

Registered Office :	Room No. 5, Hetal Apartment, N.S. Road, Mulund (West), Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-25684733
Mobile No.:	91-9322426322 [Mr. Ashish Kanodia]
Fax No.:	91-22-25684733
E-Mail :	ashishkanodia@yahoo.co.in sandeepagrahari01@gmail.com
Location:	Owned
Warehouse:	V-27, Patra Shed, Raj Laxmi Commercial Complex, Village Kalher, Bhiwandi, Thane, Maharashtra, India

DIRECTORS

As on 30.09.2013

Name :

Arti Ashish Kanodia

Designation :

Additional Director

Address :

B-9/10, Ekta Appartment, LBS Marg, Opposite Santoshi Mata Mandir, Mulund (West), Mumbai – 400080, Maharashtra, India

Date of Birth/Age :

12.02.1974

Date of Appointment :

08.06.2012

DIN No. :

03190189

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	U24117MH2001PTC131504	NUCLEUS CHEM OIL PRIVATE LIMITED	Director	25/08/2010	25/08/2010	27/07/2012	Active	NO
2	U67120MH1996PTC100671	GREEN FINANCIAL SERVICES PRIVATE LIMITED	Director	03/02/2011	03/02/2011	-	Active	NO
3	U74999MH2006PTC164025	NANO MINPRO PRIVATE LIMITED	Director	15/03/2012	15/03/2012	20/02/2013	Active	NO
4	U74900MH2008PTC184619	GREEN SHIELD ENTERPRISES PRIVATE LIMITED	Additional director	08/06/2012	08/06/2012	-	Active	NO
5	U51103MH2011PTC213059	DEVADATTAM MULTITRADE PRIVATE LIMITED	Additional director	23/11/2012	23/11/2012	28/01/2013	Active	NO
6	U74900MH2013PTC246754	GYANESHWAR SALES AND TRADING PRIVATE LIMITED	Additional director	07/12/2013	07/12/2013	-	Active	NO

Name :

Mr. Sandeep Ramchandra Pol

Designation :

Director

Address :

Kumbhar Chawl, Golibar Road, Ghatkopar (West), Mumbai, Maharashtra, India

Date of Birth/Age :

23.10.1980

Date of Appointment :

03.12.2012

DIN No. :

06451327

KEY EXECUTIVES

Name :	Mr. Sandeep Agrahari
Designation :	Accounts Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Arti Kanodia	1539000
Ashish Kanodia	460000
Sandeep Pol	1000
Total	2000000

As on 30.09.2013

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 :	Trader of Textiles.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

30 (Approximately)

Bankers :

Punjab National Bank, Jay Apartments, Linking Road, Santacruz (West), Mumbai - 400054, Maharashtra, India

Tel. No.: 91-22-26601824

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT TERM BORROWINGS
Working Capital Facilities from Bank	87.854	0.000
Total	87.854	0.000

Banking Relations :	--
Auditors :
Name :	H.K. Agarwal Chartered Accountant
Address :	8 , Cosmos Tower, 1^st Floor, Near Navne E Motors, L.B.S. Marg, Thane (West), Thane – 400607, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AARPA9128N

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs.10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs.10/- each	Rs. 20.000 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	20.000	0.100	0.100
(b) Reserves & Surplus	1.606	0.000	0.000
(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)	21.606	0.100	0.100
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.008	0.000	0.000
(c) Other long term liabilities	126.860	0.000	0.000
(d) long-term provisions	0.820	0.000	0.000
Total Non-current Liabilities (3)	127.688	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	87.854	0.000	0.000
(b) Trade payables	1.854	0.000	0.000
(c) Other current liabilities	0.322	0.000	0.000
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	90.030	0.000	0.000
TOTAL	239.324	0.100	0.100
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.061	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.012	0.015	0.000
Total Non-Current Assets	0.073	0.015	0.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	106.390	0.000	0.000
(c) Trade receivables	15.777	0.000	0.000
(d) Cash and cash equivalents	4.170	0.085	0.085
(e) Short-term loans and advances	104.485	0.000	0.000
(f) Other current assets	8.429	0.000	0.015
Total Current Assets	239.251	0.085	0.100
TOTAL	239.324	0.100	0.100

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations (Net)	1729.688	0.000	0.000
		Other Income	0.079	0.000	0.000
		TOTAL (A)	1729.767	0.000	0.000
Less	EXPENSES
		Cost of materials consumed	1791.405	0.000	0.000
		Changes in inventory	(106.390)	0.000	0.000
		Employee benefits expense	0.499	0.000	0.000
		Other Expenses	3.081	0.000	0.000
		TOTAL (B)	1688.595	0.000	0.000
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		41.172	0.000	0.000
Less	FINANCIAL EXPENSES (D)		38.706	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.466	0.000	0.000
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.024	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		2.442	0.000	0.000
Less	TAX (H)		0.836	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		1.606	0.000	0.000
	Earnings / (Loss) Per Share (Rs.)		0.80	0.00	0.00

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.09	0.00	0.00
Net Profit Margin (PBT/Sales)	(%)	0.14	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	1.02	0.00	0.00
Return on Investment (ROI) (PBT/Networth)		0.11	0.00	0.00
Debt Equity Ratio (Total Debt/Networth)		4.07	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.66	0.00	0.00

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 three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10400810	24/12/2012	95,000,000.00	PUNJAB NATIONAL BANK	JAY APARTMENTS , LINKING ROAD, SANTACRUZ (WEST), MUMBAI - 400054, MAHARASHTRA, INDIA	B67182501

CHANGE OF ADDRESS

The registered office of the company has been shifted from B-9, Ekta Apartment, LBS Marg, Mulund (West), Mumbai - 400080, Maharashtra, India to the present address w.e.f. 01.09.2013.

FIXED ASSETS

v Tangible Assets

Land

Buildings

Plant and Machinery

Furniture and Fixtures

Computer

Office Equipment

Vehicles

v Intangible Assets

Computer Software

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.61.90
UK Pound	1	Rs.102.74
Euro	1	Rs.85.16

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.