MIRA INFORM REPORT

Report Date :

08.09.2014

IDENTIFICATION DETAILS

Name :	PRE-FAB DWELLING (INDIA) LIMITED
Registered Office :	Shivputra Apartment, Flat No.202, Plot No. 244, Sector 31, Vashi, Navi Mumbai – 400703, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	26.11.1993
Com. Reg. No.:	11-075333
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U99999MH1993PLC075333
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader of Steel, HR Coils, CR Coils Sheets, etc.
No. of Employees :	3 (Approximately) [In Office]

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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a company having moderate track record. Management has filed form 23B for annual return during 2013, whereas has failed to file Form 23 AC and 23 ACA which depicts the financial statements, with the statutory authorities. As per available financials of 2012, the management has not commenced any activity, but has reported some other income during the year under review. Mr. Mayank Jain, an accountant provided information and confirmed that the subject war earlier the part of KLT Group and has demarcated itself from the group w.e.f. February. 2014. Moreover, after the separation the management has commenced its activity from a residential premises and is expecting a decent turnover from its first year of business operations. However, trade relations are improving. Business is active. Payment terms are unknown. In view of the company being in an embryonic stage, it can be considered for business dealings with caution.

NOTES :

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

ECGC Country Risk Classification List – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes that many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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. Mayank Jain
Designation :	Accountant
Contact No.:	91-9892723890
Date :	03.09.2014

LOCATIONS

Registered Office :	Shivputra Apartment, Flat No.202, Plot No. 244, Sector 31, Vashi, Navi Mumbai – 400703, Maharashtra, India
Tel. No. :	Not Available
Mobile No. :	91-9892723890 (Mr. Mayank Jain)
Fax No. :	Not Available
E-Mail :	amruta1109@gmail.com jainmayankr@gmail.com company.secretary@kltgroup.net
Correspondence Office :	18-B, Plot No. 176, Ankita Sah Gruhnirman Sanstha Road No.2, Gorai (2), Borivali (West), Mumbai – 400091, Maharashtra, India

DIRECTORS

As on 28.09.2013

Name :

Mr. Devang Kishore Thakkar

Designation :

Director

Address :

601/602, Siddharth Arcade, L.T. Road, Mumbai – 400092, Maharashtra, India

Date of Birth/Age :

01.09.1966

Date of Appointment :

26.11.1993

DIN No. :

00001785

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	Company/ LLP Status	Defaulting status
1	U27107MH1990PTC054868	THAKKARSONS ROLL FORMING PRIVATE LIMITED	Director	04/01/1990	04/01/1990	Active	NO
2	U99999MH1993PLC075333	PRE-FAB DWELLING (INDIA) LIMITED.	Director	26/11/1993	26/11/1993	Active	NO
3	U34300MH1994PLC081463	KLT AUTOMOTIVE AND TUBULAR PRODUCTS LIMITED	Director	26/09/1994	26/09/1994	Active	NO
4	U01100MH1996PLC101505	KLT AGRO FOODS LIMITED	Director	31/07/1996	31/07/1996	Active	NO
5	U99999MH1996PTC102829	THAKKARSONS METAL PROCESSORS PRIVATE LIMITED	Director	25/09/1996	25/09/1996	Active	NO
6	U27200MH2006PTC160417	METCRAFT ENGINEERING PRIVATE LIMITED	Managing director	09/03/2006	09/03/2006	Active	NO
7	U27100MH2011PTC220698	Metcraft Steel Private Limited	Director	08/08/2011	08/08/2011	Active	NO

Name :

Amruta Mahipal Singh

Designation :

Additional Director

Date of Birth/Age :

11.09.1984

Date of Appointment :

20.12.2013

DIN No. :

06771582

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	Company/ LLP Status	Defaulting status
1	U99999MH1993PLC075333	PRE-FAB DWELLING (INDIA) LIMITED	Additional director	20/12/2013	20/12/2013	Active	NO
2	U51101MH2000PTC129498	TANJORE TRADEPLACE PRIVATE LIMITED	Additional director	20/12/2013	20/12/2013	Active	NO
3	U51900MH1994PTC076742	TRIPURI TRADERS PRIVATE LIMITED	Additional director	20/12/2013	20/12/2013	Active	NO
4	U51900MH2000PTC126423	SANTOOR IMPEX PRIVATE LIMITED	Additional director	20/12/2013	20/12/2013	Active	NO

Name :

Mr. Rajesh Bhanubhai Thakar

Designation :

Additional Director

Date of Birth/Age :

03.09.1961

Date of Appointment :

20.12.2013

DIN No. :

06771285

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	Company/ LLP Status	Defaulting status
1	U99999MH1993PLC075333	PRE-FAB DWELLING (INDIA) LIMITED	Additional director	20/12/2013	20/12/2013	Active	NO
2	U51101MH2000PTC129498	TANJORE TRADEPLACE PRIVATE LIMITED	Additional director	20/12/2013	20/12/2013	Active	NO
3	U51900MH1994PTC076742	TRIPURI TRADERS PRIVATE LIMITED	Additional director	20/12/2013	20/12/2013	Active	NO
4	U51900MH2000PTC126423	SANTOOR IMPEX PRIVATE LIMITED	Additional director	20/12/2013	20/12/2013	Active	NO

KEY EXECUTIVES

Name :	Mr. Mayank Jain
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Sushila K. Thakkar	20	0.04
Bhavin K. Thakkar	24970	49.94
Manisha B. Thakkar	10	0.02
Devang K. Thakkar	10	0.02
Mansi D. Thakkar	10	0.02
Jubin K. Thakkar	24970	49.94
Parul J. Thakkar	10	0.02
Total	50000	100.00

As on 28.09.2013

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 Steel, HR Coils, CR Coils Sheets, etc.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

No. of Employees :	3 (Approximately) [In Office]
Bankers :	Bank of India

Banking Relations :	--
Auditors :
Name :	Surya Associates Chartered Accountants
Address :	103, Deepika, Plot No 37, Gokhale Road, Dhanukarwadi, Kandivali (West), Mumbai – 400067, Maharashtra, India
Tel. No. :	91-22-29671924
Mobile No. :	91-9820077823 (Mr. S.P. Agarwal)
E-Mail :	surya@bom5.vsnl.net.in
Income-tax PAN of auditor or auditor's firm :	AARFS6853Q

CAPITAL STRUCTURE

As on 28.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500
(b) Reserves & Surplus	1.763	1.145
(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)	2.263	1.645
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	6.385	6.513
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	6.385	6.513
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	0.155	0.154
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	0.155	0.154
TOTAL	8.803	8.312
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.583	0.583
(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	6.200	6.200
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.828	0.828
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	7.611	7.611
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	0.572	0.701
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.620	0.000
Total Current Assets	1.192	0.701
TOTAL	8.803	8.312

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.500
2] Share Application Money		8.333
3] Reserves & Surplus		1.147
4] (Accumulated Losses)		0.000
NETWORTH		9.980
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		9.980
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.583
Capital work-in-progress		0.000
INVESTMENT		6.200
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.702
	Other Current Assets	0.000
	Loans & Advances	3.528
Total Current Assets		4.230
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.033
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		1.033
Net Current Assets		3.197
MISCELLANEOUS EXPENSES		0.000
TOTAL		9.980

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.620	0.000	0.000
		TOTAL	0.620	0.000	0.000
Less	EXPENSES
		Other Expenses	0.002	0.002
		TOTAL	0.002	0.002	0.005
	PROFIT/ (LOSS) BEFORE TAX		0.618	(0.002)	(0.005)
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		0.618	(0.002)	(0.005)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.145	1.147	1.152
	BALANCE CARRIED TO THE B/S		1.763	1.145	1.147
	Earnings / (Loss) Per Share (Rs.)		12.36	(0.03)	(0.10)

Expected Sales (2014-2015): Rs. 1000.000 Millions

The above information has been parted by Mr. Mayank Jain (Accountant).

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	99.68	0.00	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	23.74	(0.09)	(0.10)
Return on Investment (ROI) (PBT/Networth)		0.27	0.00	(0.05)
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		7.69	4.55	4.09

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.500	0.500
Reserves & Surplus	1.145	1.763
Net worth	1.645	2.263
long-term borrowings	0.000	0.000
Short term borrowings	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	0.000	0.000	0.620

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	0.000	0.000	0.620
Profit	(0.005)	(0.002)	1.238
			199.68%

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	Yes
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	No
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

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90359663	21/05/2001	23,000,000.00	THE MAHARASHTRA STATE FINANCIAL COR.	NEW EXCELSIOR BUILDING; A.K.NAYAK MARG, FORT, MUMBAI, MAHARASHTRA, INDIA	-

CHANGE OF ADDRESS

The registered office of the company has been shifted from B-1/1, Mayur Ma Krupa CHS Limited, Opposite Gokhale School, Shimpoli Road, Borivili (West), Mumbai – 400092, Maharashtra, India to the present address w.e.f. 14.12.2013.

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 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.60.44
UK Pound	1	Rs.98.64
Euro	1	Rs.78.20

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	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.