MIRA INFORM REPORT

Report Date :

10.10.2014

IDENTIFICATION DETAILS

Name :	V R PROCUREMENT CORPORATION PRIVATE LIMITED
Registered Office :	No. 12, Yusuf Sarai, 5^th Floor, Flat No. 503-508, Ajeet Singh Complex, New Delhi – 110016
Country :	India
Financials (as on) :	31.03.2014 (Provisional)
Date of Incorporation :	22.01.2008
Com. Reg. No.:	55-172999
Capital Investment / Paid-up Capital :	Rs. 50.000 Millions
CIN No.: [Company Identification No.]	U45400DL2008PTC172999
TAN No.: [Tax Deduction & Collection Account No.]	DELV08521C
PAN No.: [Permanent Account No.]	AACCV6465B
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of PVC Resins Polymers.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. As claimed by Mr. Arvind Tiwari, Consultant that prior company was into real estate business but 6 months back company has changed its line of business to Trader of PVC Resins Polymers. He also provided us general and latest financial information and also confirmed that revenue earned by the company in the year 2013-14 if from real estate business. As per financial of 2013, networth of the company is strong and healthy. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealing at usual 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 PARTED BY

Name :	Mr. Arvind Tiwari
Designation :	Consultant
Contact No.:	91-9717490056
Date :	08.10.2014

LOCATIONS

Registered Office :	No. 12, Yusuf Sarai, 5^th Floor, Flat No. 503-508, Ajeet Singh Complex, New Delhi – 110016, India
Tel. No. :	91-11-42225222
Mobile No. :	91-9717490056 (Mr. Arvind Tiwari)
Fax No. :	91-11-42225223
E-Mail :	info@aerenr.com accounts@aerenr.com secretarial@aerenr.com
Website :	www.aerenr.com
Godown :	Khasara No. 58/2/2, Ground Floor, Village Mundka, Pooja Namkeen Wali Gali, New Delhi – 110041, India

DIRECTORS

As on 13.09.2013

Name :

Mr. Vipul Gupta

Designation :

Director

Address :

B-191, F-6, Ramprastha, Ghaziabad, 201011, Uttar Pradesh, INDIA

Date of Birth/Age :

12.06.1975

Qualification :

Commerce Graduate

Experience :

16 Years

Business Experience :

He is the Director of Aeren R Enterprises. A Commerce graduate from Delhi University, in his evolving years had exposure to several cut-across business situations as an intern. This helped him acquire detailed understanding of the real estate business in the Delhi NCR, Haryana, UP and Rajasthan regions. An extrovert and a go-getter, he is a great asset to the organization with his versatility and positivity. By virtue of his dedicated work and excellent performance, he never looked back. He rose in the organization rapidly and was for years, involved in hands-on real estate forays such as project development & liaison and commercial negotiations. He knows the business inside out and has a sound knowledge of the intricacies of real estate. A successful accomplishment of tasks given to him in the diverse realm of residential townships, commercial and retail projects, saw him catapulted to the position of Director in the organisation. He is a master of sales and leasing. He understands real estate in all its aspects. Well versed in business, he has many more dimensions. He is a keen traveler, a man of impeccable manners and friendly nature. He is an active Rotarian and is associated with Rotary Club Delhi. He is from a business family and having good reputation and relations in the market. He is having good connections in the manufacturing sector which are making use of PVC Resins, LLDPE, HDPE and other allied products.

Date of Appointment :

13.09.2013

PAN No. :

ACVPG1670P

Passport No. :

J8155154

DIN No. :

00852775

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	U45201DL1992PTC134105	CROWN BUILDTECH PRIVATE LIMITED	Director	11-09-2006	11-09-2006	16-09-2009	Active	NO
2	U92199DL1999PTC102156	AERENS ENTERTAINMENT ZONE PRIVATE LIMITED	Additional director	20-06-2011	20-06-2011	17-09-2012	Active	NO
3	U67190DL2009PTC194086	SRK FINANCIAL ADVISORS PRIVATE LIMITED	Additional director	15-10-2012	15-10-2012	21-03-2013	Active	NO
4	U45200DL2006PTC156275	YASHVARDHAN REALTORS PRIVATE LIMITED	Additional director	15-10-2012	15-10-2012	29-01-2013	Active	NO
5	U70200DL2008PTC183480	AEREN R REALTY PROJECTS PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
6	U70101DL2006PTC148442	AEREN R MALLZ PRIVATE LIMITED.	Director	12-09-2013	15-10-2012	-	Active	NO
7	U74999DL2009PTC192054	AEREN R LOGISTICS AND INFRASTRUCTURE PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
8	U51109DL1996PTC159496	AEREN R ENTERPRISES PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
9	U45201DL2005PTC138881	AEREN R CITY PLANNERS AND DEVELOPERS PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
10	U74140DL2008PTC183481	AEREN R CAPITAL CONSULTANCY PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
11	U45201DL2005PTC138882	AEREN R BUILDCON PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
12	U74899DL1995PTC070106	SHAGUN BUILDWELL PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Amalgamated	NO
13	U45201DL2000PTC106464	SARVOCH PROMOTORS PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
14	U70101PB2011PTC038824	TRIPLE A DEVELOPERS PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
15	U45201DL2004PTC130372	SHREE MAHESH REALTORS PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
16	U45201DL2000PTC106448	SMART ESTATES PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Amalgamated	NO
17	U70102DL2008PTC183590	OPTUME MARKETING PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
18	U92111DL2000PTC107338	FORTUNE R BUILDCO DEVELOPERS PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
19	U45201DL2004PTC128376	SAMPARK BUILDCON PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
20	U74899DL1995PTC069928	RIDHI SIDHI PROPERTIES PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Amalgamated	NO
21	U92199DL1997PTC085976	MP FILMS PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
22	U45201DL2004PTC128377	PIVOT BUILDCON PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
23	U74899DL2005PTC138328	HIMGIRI REALTORS PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
24	U45200DL2006PTC156269	YASHVARDHAN TOWNSHIP PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
25	U45200DL2006PTC156268	YASHRAJ PROMOTERS PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
26	U45200DL2006PTC156403	YASHVARDHAN INFRASTRUCTURE DEVELOPERS PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
27	U45400DL2008PTC172999	V R PROCUREMENT CORPORATION PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
28	U45200DL2006PTC156030	YASHRAJ ESTATES PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
29	U45200DL2006PTC156249	YASHRAJ BUILDCON PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
30	U70101DL2011PTC216189	FORTUNE ONE DEVELOPERS PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
31	U70101DL2005PTC132322	EVEREST BUILDWELL PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
32	U45201DL2000PTC106462	CROWN PROMOTORS PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
33	U51909DL2012PTC242326	AU COURANT EXIM PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
34	U70101DL1994PTC041346	AERENS DEVELOPERS AND ENGINEERS PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
35	U70101DL2005PTC138329	SAPTGIRI BUILDCON PRIVATE LIMITED	Director	30-09-2013	15-10-2012	01-10-2013	Active	NO
36	U40101DL2008PTC183510	AEREN R BUSINESS CITY PRIVATE LIMITED	Director	12-09-2013	15-10-2012	03-02-2014	Active	NO
37	U70101DL2005PTC139259	PERFECTIONS BUILDTECH PRIVATE LIMITED	Director	30-09-2013	15-10-2012	01-10-2013	Active	NO
38	U45201DL2004PTC130371	CANVAS BUILDCON PRIVATE LIMITED	Director	30-09-2013	15-10-2012	01-10-2013	Active	NO
39	U63040DL2008PTC183484	PROACTIVE LOGISTICS SERVICES PRIVATE LIMITED	Director	12-09-2013	15-10-2012	03-02-2014	Active	NO
40	U74899DL1995PTC064067	VOLITION CREDIT AND HOLDINGS PRIVATE LIMITED.	Director	13-09-2013	15-10-2012	28-03-2014	Active	NO
41	U70102DL2008PTC183477	DELHI 6 DEVELOPERS PRIVATE LIMITED	Director	13-09-2013	15-10-2012	-	Active	NO
42	U00500DL2005PTC138883	AEREN R TOWNSHIP PRIVATE LIMITED	Director	12-09-2013	15-10-2012	-	Active	NO
43	U70109DL2013PTC256141	LAKSH LAND HOLDING INDIA PRIVATE LIMITED	Additional director	03-05-2014	03-05-2014	-	Active	NO

Name :

Mr. Manjeet Singh

Designation :

Additional director

Address :

Wz-13, UGF, Street No.15, New Mahavir Nagar, New Delhi, 110018, Delhi, India

Date of Birth/Age :

24.02.1972

Qualification :

Graduate

Experience :

19 Years

Business Experience :

He is rich experience of various trading activity.

Date of Appointment :

16.04.2014

PAN No. :

ADUPR2196K

DIN No. :

05124296

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	U92199DL1999PTC102156	AERENS ENTERTAINMENT ZONE PRIVATE LIMITED	Additional director	18-11-2011	18-11-2011	25-03-2014	Active	NO
2	U45400DL2008PTC172999	V R PROCUREMENT CORPORATION PRIVATE LIMITED	Additional director	16-04-2014	16-04-2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Arvind Tiwari
Designation :	Consultant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.07.2014

Names of Shareholders	No. of Shares
Rajesh J. Aeren	404600
Sapna R. Aeren	405000
Aeren R. Enterprises Private Limited	3690000
Manjeet Singh	200
Vipul Gupta	200
Aerens Goldsouk International Limited	101362
Aerens Project and Infrastructure Private Limited	132300
Delhi Plastchem Private Limited	28750
Devkusha Buildcon Private Limited	46750
Balaji Polycoat Private Limited	15750
Metroline Promotors Private Limited	95100
Nitin Saxena	8000
Amit Saxena	11900
Star Vinimay Private Limited	8638
Future Market Networks Limited	11425
Competent Infoways Private Limited	4125
Green Valley Plywood Limited	4900
Green Valley Decore Private Limited	3500
Savera Impex Private Limited	27500
Total	5000000

As on 13.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	83.40
Other top fifty shareholders	16.60
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of PVC Resins Polymers.

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	· Indusind Bank Limited, A-276, Defence Colony, New Delhi – 110024, India · Punjab National Bank

Banking Relations :	--
Auditors :
Name :	A D B and Associates Chartered Accountants
Address :	S-1 Plot No. 11, 2^nd Floor, Manish Abhinav Plaza, Sector-4, Dwarka, New Delhi – 110075, India
Tel. No. :	91-11-47350723
E-Mail :	d_kapoor77@yahoo.co.in
Website :	www.adbassociates.in
Income-tax PAN of auditor or auditor's firm :	AAQFA7760H
Sisters Concern :	Aeren R Enterprises Private Limited CIN No.: U51109DL1996PTC159496 Address : 503-508, 5th Floor, Ajeet Singh House, Yusuf Sarai, New DELHI-110016 Line of Business : Real Estate Developers Yashraj Estates Private Limited CIN No.: U45200DL2006PTC156030 Address : 503-508, 5th Floor, Ajeet Singh House, Yusuf Sarai, New Delhi-110016 Line of Business : Real Estate Developers

CAPITAL STRUCTURE

As on 24.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs.10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs.10/- each	Rs. 50.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS			31.03.2014 (Provisional)
SHAREHOLDERS FUNDS
1] Share Capital			50.000
2] Share Application Money			0.000
3] Reserves & Surplus			993.562
4] (Accumulated Losses)			0.000
NETWORTH			1043.562
LOAN FUNDS
1] Secured Loans			0.000
2] Unsecured Loans			0.008
TOTAL BORROWING			0.008
DEFERRED TAX LIABILITIES			0.028
TOTAL			1043.598
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]			0.000
Capital work-in-progress			0.000
INVESTMENT			986.830
DEFERRED TAX ASSETS			0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories		0.012
	Sundry Debtors		0.000
	Cash & Bank Balances		0.171
	Other Current Assets		0.000
	Loans & Advances		86.721
Total Current Assets			86.904
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities		30.136
	Provisions		0.000
Total Current Liabilities			30.136
Net Current Assets			56.768
MISCELLANEOUS EXPENSES			0.000
TOTAL			1043.598

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	50.000	50.000
(b) Reserves & Surplus	992.976	994.608
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1042.976	1044.608
(3) Non-Current Liabilities
(a) long-term borrowings	0.008	10.008
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.008	10.008
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	60.341	0.063
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	60.341	0.063
TOTAL	1103.325	1054.679
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	1000.000	1000.000
(c) Deferred tax assets (net)	0.000	0.028
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	1000.000	1000.028
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.012	0.012
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	1.292	14.444
(e) Short-term loans and advances	102.021	40.195
(f) Other current assets	0.000	0.000
Total Current Assets	103.325	54.651
TOTAL	1103.325	1054.679

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014 (Provisional)	31.03.2013	31.03.2012
	SALES
		Income	0.000	0.000	0.000
		Other Income	41.208	0.020	0.000
		TOTAL	41.208	0.020	0.000
Less	EXPENSES
		Other expenses	40.514	0.293	0.039
		TOTAL	40.514	0.293	0.039
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.694	(0.273)	(0.039)
Less/ Add	DEPRECIATION/ AMORTISATION		0.079	1.332	0.000
	PROFIT/ (LOSS) BEFORE TAX		0.615	(1.605)	(0.039)
Less	TAX		0.028	0.027	0.028
	PROFIT/ (LOSS) AFTER TAX		0.587	(1.632)	(0.067)
	Earnings / (Loss) Per Share (Rs.)		0.12	(0.33)	(0.01)

KEY RATIOS

PARTICULARS		31.03.2014 (Provisional)	31.03.2013	31.03.2012
PAT / Total Income	(%)	1.42	(8160.00)	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.71	(1.55)	(0.07)
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.01
Current Ratio (Current Asset/Current Liability)		2.88	1.71	867.48

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014 (Provisional)
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	0.000	0.020	41.208
			2,05,940.000

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014 (Provisional)
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	0.000	0.020	41.208
Profit	(0.067)	(1.632)	0.587
		(8160.00%)	1.42%

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	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

------------------------------------------------------------------------------------------------------------------------------

UNSECURED LOAN

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Loans and advances from related parties
Loans from Directors
Ajay Saigal		0.008
Total	0.008	0.008

------------------------------------------------------------------------------------------------------------------------------

ASSESSEMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SL. NO.	PARTICULARS	2014 - 15 (8 MONTH)	2015 - 16
		ESTIMATED	PROJECTED
1	Gross Income	400.000	720.000
	a. Export	--	--
	b. Income from operations	400.000	720.000
2	c. Other Income and Incentive	45.000	50.000
3	Net Sales (1-2)	445.000	770.000
4	% rise or fall in net sales	954.77	73.03
5	Cost of Sales :
i.	Raw Materials/Finished Materials	448.937	707.667
	a. Purchase against L/c Import/domestic	--	--
	b. Indigenous	448.937	707.667
ii.	Other spares	--	--
	a. Imported	--	--
	b. Indigenous	--	--
iii.	Power and Fuel	--	--
iv.	Salary and Personal Expenses	2.225	3.850
v.	Infrastructure Project Expenses	41.850	46.500
vi.	Depreciation	--	--
vii	Deferred Expenditure Written off	--	--
	Sub total ( i to vii )	493.012	758.017
viii.	Add opening stock-in-process	--	--
ix.	Deduct closing stock-in-process	--	--
x.	COST OF PRODUCTION/PURCHASE	493.012	758.017
xi.	Add opening stock of finished goods	0.012	60.349
xii.	Deduct closing stock of finished goods	60.349	69.616
xiii.	COST OF SALES	432.675	748.750
6	Gross Profit	12.325	21.250
7	% of Gross Profit	0.277	0.276
8	Selling, general and administrative Expenses	2.000	3.600
9	Sub Total (5+8)	434.675	752.350
10	Operating Profit before interest (3-9)	10.325	17.650
11	Interest	6.175	12.870
12	Operating Profit after interest (10-11)	4.150	4.780
13	a. Other non-operating income	--	--
	b. Other non-operating expense	--	--
	c. Net other non-operating income/expense (a-b)	--	--
14	PROFIT / LOSS BEFORE TAX (12 + 13c)	4.150	4.780
15	Provision for taxes including Deferred Provision	1.282	1.477
16	NET PROFIT / (LOSS) (14-15)	2.868	3.303
17	Provision	--	--
18	Retained Profit (16-17)	2.868	3.303
19	% of Net Profit retained (18/16)	100.00	100.00

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SL. NO.	PARTICULARS	2014 - 15	2015 - 16
		ESTIMATED	PROJECTED
	LIABILITIES
	CURRENT LIABILITIES
1	Short term borrowings from Banks :
	a. From applicant Bank
	Cash Credit	95.000	110.000
	b. From Other Bank	--	--
	Sub Total (A)	95.000	110.000
2	Sundry Creditors against L/C	--	--
3	Sundry Creditors (Domestic)	9.225	9.694
4	Advance payments from customers	--	--
5	Provision for Taxation	1.282	1.477
6	Dividend Payable	--	--
7	Other Statutory liabilities (due within one year)	3.000	4.000
8	Instalments of Term Loans / DPCs	--	--
8a	Short Term Provisions (Provision for Standard Assets)	--	--
9	Other current liabilities and provisions	2.000	3.000
	Sub Total (B)	15.507	18.171
10	TOTAL CURRENT LIABILITIES (A + B)	110.507	128.171
	TERM LIABILITIES
11	Debentures (not maturing within one year)	--	--
12	Advance from Customers (Long Term)	--	--
13	Term Loans (excl. instalments payable within one year)	--	--
14	Creditors for Goods (Long Term)	--	--
15	Unsecured Loan from Bank	--	--
16	Other Term Liabilities (Unsecured Loan)	--	--
17	TOTAL TERM LIABILITIES	--	--
18	TOTAL OUTSIDE LIABILITIES (10 +17)	110.507	128.171
19	Capital	62.000	62.000
20	Share Premium	995.000	995.000
21	Deferred Tax Liabilities	--	--
22	Reserve Fund	--	--
23	Surplus / Deficit in Profit and Loss A/c	3.020	6.323
23a	Others (Specify)	--	--
24	NET WORTH	1060.020	1063.323
25	TOTAL LIABILITIES	1170.527	1191.494
		127.330	127.330
	ASSETS
	CURRENT ASSETS
26	Cash and Bank balances	0.819	3.780
27	Investments (other than long term)	--	--
	a. Govt. and other Trustee securities	--	--
	b. Margin Money for BG and LC (FDR)	--	--
28	a. Receivables other than deferred and export	93.699	112.438
	b. Export receivables (incl. bills purchase and discounted)	--	--
29	Instalments of deferred receivable (due with one year)	--	--
30	Inventory :	60.349	69.616
	I. Raw materials	--	--
	a. Imported	--	--
	b. Indigenous	--	--
	ii (a). Stock-in-process - In factory (Goods in Transit)	--	--
	ii (b). Stock-in-process - Const. in progress	--	--
	iii. Finished goods	60.349	69.616
	iv. Other consumable spares	--	--
	a. Imported	--	--
	b. Indigenous	--	--
31	Advances to suppliers of Raw material and stores	--	--
32	Advance payment of taxes (Vat, Income Tax)	4.000	4.000
33	Other current assets (Specify)	25.000	15.000
34	TOTAL CURRENT ASSETS	183.867	204835
	FIXED ASSETS
35	Gross Block	--	--
36	Depreciation to date	--	--
37	NET BLOCK ( 35-36)	--	--
	OTHER NON-CURRENT ASSETS
38	Investments, Book Debts, advances, deposits which are not current :
	i. Investments in	--	--
	ii. Advances to suppliers of capital goods	--	--
	iii. Investment in Shares	859.330	859.330
	iv. Security Deposit	--	--
	v. Fixed Deposit (More than 12 Months)	--	--
39	Non-consumable stores and spares	--	--
40	Other non-current assets including deferred tax etc	--	--
41	TOTAL OTHER NON-CURRENT ASSET	859.330	859.330
42	Intangible assets ( patents, goodwill, preliminary)	---	--
43	TOTAL ASSETS (34+37+41+42)	1043.197	1064.165
44	TANGIBLE NET WORTH (24-42+16)	1060.020	1063.323
45	NET WORKING CAPITAL (17+24) - (37+41+42)	200.690	203.993
46	CURRENT RATIO	1.66	1.60
47	TOL / TNW	0.10	0.12
48	TTL / TNW	---	---

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF ASSESSED BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SL. NO.	PARTICULARS	2014 - 15	2015 - 16
		ESTIMATED	PROJECTED
1	Total Current Assets	183.867	204.835
2	Other Current Liabilities	15.507	18.171
3	Working Capital Gap	168.360	186.664
4	Net Working Capital	200.690	203.993
5	Assessed Bank Finance	(32.330)	(17.330)
6	NWC to Total Current Assets	1.09	1.00
7	Bank Finance to TCA	0.52	0.54
8	S. Creditors to TCA	0.05	0.05
9	Other Current Liabilities to TCA	0.03	0.04
10	Inventory to Net Sales (days)	49.50	33.00
11	Receivables to Gross Sales (days)	56.22	56.22
12	Sundry Creditors to Purchases (days)	7.40	4.93

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COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITES

(RS. IN MILLIONS)

SL. NO.	PARTICULARS	2014 - 15	2015 - 16
		ESTIMATED	PROJECTED
1	Raw materials including stores & other items used in the process of manufacturing
	(a) Imported : Amount	--	--
	: Month's consumption	--	--
	(b) Indigenous : Amount	--	--
	: Month's consumption	--	--
2	Other consumable spares, exc. those included in(1) above
	(a) Imported : Amount	--	--
	: Month's consumption	--	--
	(b) Indigenous : Amount	--	--
	: Month's consumption	--	--
3	Stocks-in-process : Amount	--	--
	: Month's consumption	--	--
4	Finished goods : Amount	60.349	69.616
	: Month's cost of sales	(1.12)	(1.12)
5	Receivables other than export & deferred receivables (Including bills purchased and discounted by bank)
	: Amount	93.699	112.438
	: Month's Domestic Sales	(1.87)	(1.87)
6	Export receivables (Including bills purchased & disc.)
	: Amount	--	--
	: Month's export Sales	--	--
7	Advance to suppliers of material	--	--
8	Other current assets including cash and bank balances receivables due within one year(specify major items)
	: Cash and bank balances	0.819	3.780
	: Investment (FDR for LC )	--	--
	: Others	29.000	19.000
9	TOTAL CURRENT ASSETS	183.867	204.835
	II. CURRENT LIABILITIES
	(Other than bank borrowing for working capital)
10	Creditors for purchase of raw material (Domestic)
	: Amount	9.225	9.694
	: Month's Purchase	(0.16)	(0.16)
11	Creditors for purchase of raw material (Import)
	: Amount	--	--
	: Month's Purchase	--	--
12	Advance from customers	--	--
13	Statutory liabilities	4.282	5.477
14	Other current liabilities-specify major items
	a) Sundry Creditors for Capital Goods	--	--
	b) Dividend payable	--	--
	c) Instalments of TL, DPS and public deposits	--	--
	d) Other current liabilities and provisions	2.000	3.000
15	TOTAL CURRENT LIABILITES	15.507	18.171

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SL. NO.	PARTICULARS	2014 - 15	2015 - 16
		ESTIMATED	PROJECTED
	FIRST METHOD OF LENDING
1	Total Current Assets	183.867	204.835
2	Other Current Liabilities (other than bank borrowings a LC Creditors)	15.507	18.171
	LC Creditors)
3	Working Capital Gap	168.360	186.664
4	Min. stipulated Net Working Capital (25% of WCG)	42.090	46.666
5	Net Working Capital	200.690	203.993
6	Item 3 minus item 4	126.270	139.998
7	Item 3 minus item 5	(32.330)	(17.330)
8	Maximum permissible bank finance	(32.330)	(17.330)
	(lower of 6 or 7)
9	Excess borrowings representing shortfall in NWC	-	-
	SECOND METHOD OF LENDING
1	Total Current Assets	183.867	204.835
2	Other Current Liabilities (other	15.507	18.171
	Creditor)
3	Working Capital Gap	168.360	186.664
4	Min. stipulated Net Working Capital (25% of Total Current Assets)	45.967	51.209
5	Net Working Capital	200.690	203.993
6	Item 3 minus item 4	122.393	135.455
7	Item 3 minus item 5	(32.330)	(17.330)
8	Maximum permissible bank finance (lower of 6 or 7)	(32.330)	(17.330)
9	Excess borrowings representing	--	--

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FUNDS FLOW STATEMENT

(RS. IN MILLIONS)

SL. NO.	PARTICULARS	2014 - 15	2015 - 16
		ESTIMATED	PROJECTED
1	SOURCES
	a. Net Profit	4.150	4.780
	b. Depreciation	--	--
	c. Increase in Capital + SAM + Quasi Capital	12.000	--
	d. Increase in Term Liabilities	(0.008)	--
	e. Deffered Provision	--	--
	f. Decrease in :
	i)Fixed Assets	--	--
	ii)Non-current assets	--	--
	f. Others (Profit & Loss Balance)
	g. TOTAL (A)	16.142	4.780
2	USES
	a. Net loss	--	--
	b. Taxation Adjustment/Dividend	1.282	1.477
	c. Decrease in Term Liabilities	--	--
	d. Increase in:
	i) Fixed Assets	--	--
	ii) Non-current assets (Security Deposit)	(127.500)	--
	e. Others (Preliminary Expenses)	--	--
	f. TOTAL (B)	(126.218)	1.477
3	Long Term Surplus/Deficit	142.360	3.303
4	Changes in Current Assets (increase / decrease)	97.270	20.968
5	Changes in other current liabilities (other than bank borrowings)	(12.759)	2.664
6	Change in working capital gap (4-5)	110.029	18.304
7	Net Surplus / Deficit (3-6)	32.330	(15.001)
8	Change in Bank Borrowings	95.000	15.000

------------------------------------------------------------------------------------------------------------------------------

FINANCIAL INDICATORS

(RS. IN MILLIONS)

SL. NO.	PARTICULARS	2014 -- 15	2015 -- 16
		ESTIMATED	PROJECTED
1	Gross Sales	400.000	7200.00
2	Net Sales *	445.000	7700.00
3	RM consumption / Cost of Production	0.91	0.93
4	Salary & Wages / Cost of Production	0.00	0.01
5	Cost of Sales / Net Sales	0.97	0.97
6	Operating Cost / Net Sales	0.99	0.99
7	Operating Profit	4.150	4.780
8	Profit before Tax	4.150	4.780
9	Net Profit	2.868	3.303
10	Depreciation	--	--
11	Cash Accruals	2.868	3.303
12	Interest	6.175	12.870
13	PBDIT	10.325	17.650
14	PBDIT / Interest	1.67	1.37
15	PBT / Net Sales	0.01	0.01
16	Net Profit / Net Sales	0.01	0.00
17	Net Profit / Gross Sales	0.01	0.00
18	Total Outside Liabilities	110.507	128.171
19	Paid-up Capital	62.000	62.000
20	Net Worth	1060.020	1063.323
21	TNW	1060.020	1063.323
22	TOL / TNW	0.10	0.12
23	Net Profit / Net Worth	0.00	0.00
24	ROCE ( PBDIT / Total Assets )	0.01	0.02
25	TTL / TNW	--	--
26	Net DSCR ( Cash accruals / Term Loan instalments )	N.A.	N.A.
27	Current Assets	183.867	204.835
28	Current Liabilities	110.507	128.171
29	NWC	73.360	76.664
30	Current Ratio	1.66	1.60
31	NWC to TCA	0.40	0.37
32	Bank Finance to TCA	0.52	0.54
33	Sundry Creditors to TCA	0.05	0.05
34	Other Current Liabilities to TCA	0.03	0.04

------------------------------------------------------------------------------------------------------------------------------

CASH FLOW STATEMENT

(RS. IN MILLIONS)

SL. NO.	PARTICULARS	2014 -- 15	2015 -- 16
		ESTIMATED	PROJECTED
1	SOURCES OF FUND
	a. Profit before tax	2.868	3.303
	b. Share Premium	--	--
	c. Increase in Capital	12.000	--
	d. Deffered Provision	--	--
	e. Increase in Term Liabilities	(0.008)	--
	f. Increase in Bank Borrowing	95.000	15.000
	g. Increase in Sundry Creditors	4.251	0.469
	h. Increase in Other Current Lia	(17.011)	2.195
	TOTAL (A)	97.100	20.967
2	APPLICATION OF FUND
	a. Preliminary Expenses	--	--
	b. Increases in Capital Expenses net of	--	--
	c. Increase in Inventory	60.337	9.267
	d. Increase in Receivables	93.699	18.740
	e. Increase in Other Current Assets	(57.413)	(10.000)
	f. Increase in Non-Current Assets	(127.500)	--
	TOTAL (B)	(30.878)	18.007
	Opening Balance	0.171	128.149
	Net Surplus	127.978	2.960
	Closing Balance	128.149	131.109
		127.330	127.329

------------------------------------------------------------------------------------------------------------------------------

NET WORTH STATEMENT

MR. MANJEET SINGH

(RS. IN MILLIONS)

PARTICULARS	AMOUNT
Assets
Fixed Assets
Car – Wagon R	0.150
Motor Cycle	0.015
Jewellary	0.250
Investments
Mutual Fund	0.550
PPF	0.700
Shares	0.100
LIC	0.541
Bank Balance and FDR	0.750
Total – A	3.056
Liabilities	0.000
Total – B	0.000
NET WORTH (A-B)	3.056

------------------------------------------------------------------------------------------------------------------------------

NET WORTH STATEMENT

MR. VIPUL GUPTA

(RS. IN MILLIONS)

PARTICULARS	AMOUNT
Fixed Assets
Immovable Property	1.900
Car – Swift Dezire	0.370
Bank Balance and FDR	0.110
Total - A	2.380
Liabilities
Long Term Borrowings – Secured
India Bulls Home Finance Limited	0.860
SBI Car Loan	0.264
Total – B	1.124
NET WORTH (A-B)	1.256

------------------------------------------------------------------------------------------------------------------------------

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

------------------------------------------------------------------------------------------------------------------------------

CHANGE OF ADDRESS

The registered office of the company has been shifted from 6th Floor, Mahindra Tower, 2A, Bhikaji Cama Place, New Delhi – 110066, India to the present address w.e.f. 01.12.2013.

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.61.04
UK Pound	1	Rs.98.64
Euro	1	Rs.77.74

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	SUM
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	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		45

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.