MIRA INFORM REPORT

Report No. :	316133
Report Date :	04.04.2015

IDENTIFICATION DETAILS

Name :	RAJ EQUIPMENT (INDIA) PRIVATE LIMITED
Registered Office :	Raj Equipment, Near Postal Colony, Opposite N.B.B.S., Plot No. 8, Kachimate Lay-out, Amravati Road, Nagpur – 440033, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	28.11.2011
Com. Reg. No.:	11-224431
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U25200MH2011PTC224431
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of multi play systems play ground equipments, benches, cabins, dusbins, boats etc.
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 10000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was established as proprietary concern during the year 1992 with the name of “RAJ COOLER AND FEBRICATION”. It got converted as private limited company in the year 28^th November 2011 with the name of “RAJ EQUIPMENT (INDIA) PRIVATE LIMITED”. Mr. Ankush Rewadia, Director has provided general information to us and claimed that company has achieved sales turnover of Rs.40.000 Million for the year 2012-2013 and Rs.60.000 Million for the year 2013-2014 which is not verified. Management has failed to file its financial record with government department for the year 2014. As per available financial record of 2013, the rating is constrained on account of company’s moderate financial risk profile and small networth of the company. However, trade relations are fair. Business is active. Payment terms are reported to be slow. 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Ankush Rewadia
Designation :	Director
Contact No.:	91-9822560840
Date :	02.04.2015

LOCATIONS

Registered Office :	Raj Equipment, Near Postal Colony, Opposite N.B.B.S., Plot No. 8, Kachimate Lay-out, Amravati Road, Nagpur – 440033, Maharashtra, India
Tel. No.:	91-712-250078 / 2500157 / 2500786
Mobile No.:	91-9822560840 (Mr. Ankush Rewadia)
Fax No.:	91-712-2500925
E-Mail :	info@rajequipment.com ketkisave@gmail.com
Website :	www.rajequipments.com www.rajequipment.co.in
Factory :	MIDC Hingna, P-32/2, Nagpur, Maharashtra, India

DIRECTORS

AS ON 30.09.2013

Name :	Mr. Hiralal Sunderlal Rewadia
Designation :	Director
Address :	Raj Cooler, Plot No. 8, Near, Postal Colony, Opposite – HBSS, Amravati Road, Chikhli Lay-out, Nagpur – 440023, Maharashtra, India
Date of Birth/Age :	08.08.1964
Date of Appointment :	28.11.2011
DIN No.:	03572572
Name :	Mr. Ankush Rewadia
Designation :	Director
Address :	Raj Cooler, Plot No. 8, Near, Postal Colony, Opposite – HBSS, Amravati Road, Chikhli Lay-out, Nagpur – 440023, Maharashtra, India
Date of Birth/Age :	01.12.1988
Date of Appointment :	28.11.2011
DIN No.:	03572568

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Name of Shareholders	No. of Shares	%age
Mr. Ankush Rewadia	3,000	6.00
Mr. Hiralal Sunderlal Rewadia	47,000	94.00
Total	50,000	100.00

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 :	Manufacturer and Exporter of multiplay systems play ground equipments, benches, cabins, dusbins, boats etc.
Products :	Majestic Series Playground Multiplay Systems Playground Multi Play Slides Playground Equipment Dreamer Series Playground Set Playground Multiplay Station Multi Slide Playing Equipment Outdoor Play Ground Equipment: · Slides · Merry Go-rounds · Swings · See-Saws · Climbers · Multiplay · Hanging Bars. Indoor Toys: · Sliders (LLDP) · See Saw (LLDP) · Multiplay Systems(LLDP) · School Furniture (LLDP) Dust Bins: · F.R.P. Animal Model & Fancy Dust Bins · Hanging Dust Bins · Indoor Simple Dust Bins F.R.P. Porta Cabins: · Security Cabins · Office Cabins · Telephone Booth Cabins · Moveable Cabins · Portable Cabins Benches: · Garden Benches · School Benches · Restaurant Table with Dome · F.R.P. Garden Umbrella. Urinals: · F.R.P. Single Urinals · F.R.P. Double Urinals · Mobile Toilet Van · F.R.P. Boats: · Two Seater Paddle Boats · Four Seater Paddle Boats · Six Seater Motor Boats · Ten Seater Motor Boats.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Countries :	Nepal Bangladesh Kuwait Qu tar Masque Malaysia Sri Lanka Nigeria Singapore Kenya
Imports :	Not Divulged
Terms :
Selling :	Cheque and Credit
Purchasing :	Cheque and Credit

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

250 (Approximately)

Bankers :

Bank Name	Punjab National Bank
Branch	Nagpur, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
LONG TERM BORROWINGS
Term loan From Bank
Punjab National Bank C, C A/c no. : 2162008700000923	2.244	0.000
Punjab National Bank C, C A/c A/c no. : 216200IB0000406	1.987	0.000
Total	4.231	0.000

Auditors :
Name :	Jodh Joshi and Company Chartered Accountants
Address :	J.P. House, Ravi Nagar Square, Amravati Road, Nagpur – 440010, Maharashtra, India
Tel. No.:	91-712-2522756 / 2522284
PAN No.:	AAASJ7860K
Fax No.:	91-712-2522756
E-Mail :	Jjcoca.ngp@gmail.com cayashverma@gmail.com
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	28.11.2011 to 31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.100
(b) Reserves & Surplus	3.145	(0.039)
(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)	3.645	0.061
(3) Non-Current Liabilities
(a) long-term borrowings	4.231	0.000
(b) Deferred tax liabilities (Net)	0.021	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	4.252	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	2.958	0.000
(c) Other current liabilities	0.000	0.000
(d) Short-term provisions	0.760	0.007
Total Current Liabilities (4)	3.718	0.007
TOTAL	11.615	0.068
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.790	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	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.006
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	5.790	0.006
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.921	0.000
(c) Trade receivables	3.980	0.000
(d) Cash and cash equivalents	0.150	0.062
(e) Short-term loans and advances	0.573	0.000
(f) Other current assets	0.201	0.000
Total Current Assets	5.825	0.062
TOTAL	11.615	0.068

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	28.11.2011 to 31.03.2012
	SALES
	Income	16.167	0.000
	Other Income	0.000	0.000
	TOTAL (A)	16.167	0.000
Less	EXPENSES
	Cost of Materials Consumed	12.195
	Purchases of Stock-in-Trade	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.921)	0.045
	Employees benefits expense	2.134
	Other expenses	1.312	0.045
	TOTAL (B)	14.720	0.045
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1.447	(0.045)
Less	FINANCIAL EXPENSES (D)	0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	1.447	(0.045)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.564	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	0.883	(0.045)
Less	TAX (H)	0.274	(0.006)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	0.609	(0.039)
	Earnings / (Loss) Per Share (Rs.)	12.18	(0.78)

Particulars	31.03.2014
Sales Turnover (Approximately)	60.000

Expected Sales ( 2014-2015 ) : Rs.100.000 Million

The above information has been parted by Mr. Ankush Rewadia

KEY RATIOS

PARTICULARS		31.03.2013	28.11.2011 To 31.03.2012
Net Profit Margin (PAT / Sales)	(%)	3.77	0.00
Operating Profit Margin (PBIDT/Sales)	(%)	8.95	0.00
Return on Total Assets (PBT/Total Assets}	(%)	7.60	(72.58)
Return on Investment (ROI) (PBT/Networth)		0.24	(0.74)
Debt Equity Ratio (Total Liability/Networth)		1.16	0.00
Current Ratio (Current Asset/Current Liability)		1.57	8.86

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	28.11.2011 To 31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.500
Reserves & Surplus	(0.039)	3.145
Share Application money pending allotment	0.000	0.000
Net worth	0.061	3.645
long-term borrowings	0.000	4.231
Short term borrowings	0.000	0.000
Total borrowings	0.000	4.231
Debt/Equity ratio	0.000	1.161

Year on Year Growth	28.11.2011 To 31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Sales	0.000	16.167

Net Profit Margin	28.11.2011 To 31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Sales	0.000	16.167
Profit/Loss	(0.039)	0.609
		3.77%

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 two years	Yes
13]	Reasons for variation <> 20%	No
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)	Yes
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	No

VIEW INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10376986	29/08/2012	5,000,000.00	PUNJAB NATIONAL BANK	BHARAT NAGAR BRANCH, AMRAVATI ROAD,, NAGPUR, MAHA  RASHTRA - 440033, INDIA	B58302589

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.62.59
UK Pound	1	Rs. 92.46
Euro	1	Rs. 67.51

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	KAR
Report Prepared by :	SNT

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	2
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.