MIRA INFORM REPORT

Report No. :	316025
Report Date :	09.04.2015

IDENTIFICATION DETAILS

Name :	WM DEVELOPERS PRIVATE LIMITED (w.e.f. 01.06.2011)
Formerly Known As :	WTM DEVELOPERS PRIVATE LIMITED
Registered Office :	Flat No. 26, Sector-13, Samay Vihar, Rohini, New Delhi-110092
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.03.2005
Com. Reg. No.:	55-133557
Capital Investment / Paid-up Capital :	Rs. 3.250 Million
CIN No.: [Company Identification No.]	U45201DL2005PTC133557
TAN No.: [Tax Deduction & Collection Account No.]	DELW01651G
PAN No.: [Permanent Account No.]	AAACW5724G
Legal Form :	Private Limited Liability Company
Line of Business :	Real Estate Developer.
No. of Employees :	5 (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 100000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Even though the company was incorporated on 03^rd March 2005, it has commenced its business operations from March 2012. It is having moderate track record. Mr. Rishav Gupta, Director has provided information to us claimed that company has undertaken project of building residential premises and same will be expected to complete at the end of 2015. Business is active. Payments are reported to be slow. The company can be considering 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. Rishabh Gupta
Designation :	Director
Contact No.:	91-9896674743
Date :	08.04.2015

LOCATIONS

Registered Office :	Flat No. 26, Sector-13, Samay Vihar, Rohini, New Delhi-110092, India
Tel. No.:	Not Available
Mobile No.:	91-9896674743 (Mr. Rishabh Gupta)
Fax No.:	Not Available
E-Mail :	sethi.kishor@gmail.com wmdeveloperspvtltd@gmail.com anilgoel4@gmail.com poojasarees@gmail.com
Site Office:	Plot No. 1, Kalka Chowk, Ambala City – 134003, Haryana, India

DIRECTORS

As on: 29.09.2014

Name :

Mr. Vinod Kumar

Designation :

Director

Address :

862,Sector-7, Urban Estate, Ambala City - 134003, Haryana, India

Date of Appointment :

03.03.2005

DIN No.:

00326414

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	U45202HR1985PTC022149	VEE AAR TRADCON PRIVATE LIMITED	Director	30/03/2001	30/03/2001	-	Active	NO
2	U23221HR2001PTC034717	POOJA SAREES PRIVATE LIMITED	Director	20/07/2001	20/07/2001	-	Active	NO
3	U45201DL2005PTC133557	WM DEVELOPERS PRIVATE LIMITED	Director	03/03/2005	03/03/2005	-	Active	NO
4	U45201DL2005PTC133558	POOJAN CONSTRUCTIONS PRIVATE LIMITED	Director	03/03/2005	03/03/2005	-	Active	NO
5	U74999DL2005PTC134176	R.O. MARKETING PRIVATE LIMITED	Director	25/02/2009	25/02/2009	-	Active	NO

Name :

Mr. Rishabh Gupta

Designation :

Director

Address :

862, Sector-7, Urban Estate, Ambala - 134003, Haryana, India

Date of Appointment :

15.04.2006

DIN No.:

00326423

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	U45202HR1985PTC022149	VEE AAR TRADCON PRIVATE LIMITED	DIRECTOR	30/03/2001	30/03/2001	-	ACTIVE	NO
2	U23221HR2001PTC034717	POOJA SAREES PRIVATE LIMITED	DIRECTOR	20/07/2001	20/07/2001	-	ACTIVE	NO
3	U45201DL2005PTC133559	ISKON DEVELOPERS PRIVATE LIMITED	DIRECTOR	03/03/2005	03/03/2005	27/03/2015	ACTIVE	NO
4	U45202PB2006PTC029841	SURYANASH BUILDERS AND DEVELOPERS PRIVATE LIMITED	DIRECTOR	06/03/2006	06/03/2006	-	ACTIVE	NO
5	U45201DL2005PTC133557	WM DEVELOPERS PRIVATE LIMITED	DIRECTOR	15/04/2006	15/04/2006	-	ACTIVE	NO

Name :

Mr. Radhey Sham

Designation :

Director

Address :

H.No.33, Anand Nagar ,Tripuri, Patiala - 147001, Punjab, India

Date of Birth/Age :

10.05.1961

Date of Appointment :

01.06.2011

DIN No.:

01108133

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	U70100PB2005PTC028379	RSG PROPERTIES PRIVATE LIMITED	DIRECTOR	09/05/2005	09/05/2005	-	ACTIVE	NO
2	U55100PB1996PLC017756	WILLIAM RESORTS AND DEVELOPERS LIMITED	DIRECTOR	01/04/2006	01/04/2006	-	ACTIVE	NO
3	U45201DL2005PTC133557	WM DEVELOPERS PRIVATE LIMITED	DIRECTOR	01/06/2011	01/06/2011	-	ACTIVE	NO

Name :

Mr. Raj Kumar

Designation :

Director

Address :

98, Sector-7,Urban Estate, Ambala - 134003, Haryana, India

Date of Appointment :

03.03.2007

DIN No.:

01618625

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	U45202HR1985PTC022149	VEE AAR TRADCON PRIVATE LIMITED	DIRECTOR	30/03/2001	30/03/2001	-	ACTIVE	NO
2	U23221HR2001PTC034717	POOJA SAREES PRIVATE LIMITED	DIRECTOR	20/07/2001	20/07/2001	-	ACTIVE	NO
3	U45201DL2005PTC133559	ISKON DEVELOPERS PRIVATE LIMITED	DIRECTOR	03/03/2005	03/03/2005	27/03/2015	ACTIVE	NO
4	U45201DL2005PTC133558	POOJAN CONSTRUCTIONS PRIVATE LIMITED	DIRECTOR	03/03/2005	03/03/2005	-	ACTIVE	NO
5	U45202PB2006PTC029841	SURYANASH BUILDERS AND DEVELOPERS PRIVATE LIMITED	DIRECTOR	06/03/2006	06/03/2006	-	ACTIVE	NO
6	U45201DL2005PTC133557	WM DEVELOPERS PRIVATE LIMITED	DIRECTOR	03/03/2007	03/03/2007	-	ACTIVE	NO
7	U74999DL2005PTC134176	R.O. MARKETING PRIVATE LIMITED	DIRECTOR	27/05/2009	27/05/2009	-	ACTIVE	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2014

Names of Shareholders	No. of Shares
Vinod Kumar	11135
Raj Kumar	110500
Rishav Gupta	57030
Neelam Rani	27270
Pushpa Rani	9090
Vinod Kumar (HUF)	45450
Raj Kumar HUF	4525
Iskon Developers Private Limited	60000
Total	325000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2014

Category	Percentage
Bodies corporate	18.46
Directors or relatives of Directors	81.51
Total	100.00

BUSINESS DETAILS

Line of Business :	Real Estate Developer.
Products/ Services :	Real Estate Developer.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Advance Payment, Cheque and Credit (30/60 Days)
Purchasing :	Advance Payment, Cheque and Credit (30/60 Days)

GENERAL INFORMATION

Suppliers :

• PSE Contractor and Supplier
• Harman Security Services Regd.
• Jindal Mectec Private Limited
• MOhinder Singh and Sons
• Surya Contractor

Customers :

Others (Corporate)

• Chicago Construction Company.
• Surya Contractor Private Limited
• Credence Engineers Private Limited

No. of Employees :

5 (Approximately)

Bankers :

Bank of India, MID Corporate Branch, Bank of India Building, SCO 81-82, Second Floor, Bank Square, Sector 17-B, Chandigarh - 160017, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Bank of India	0.000	0.063
Total	0.000	0.063

Auditors :

Name :

Rajiv Goel and Associates

Chartered Accountants

Address :

179, Bank Road, Ambala Cantt-133001, Haryana, India

Tel. No.:

91-171-2631607/ 4003607

E-Mail :

Rgaca91@gmail.com

PAN N Income-tax PAN of auditor or auditor's firm :

AABFR3747E

Memberships :

Not Available

Collaborators :

Not Available

Related Parties

(As confirmed by the management) :

Name	Pooja Sarees
Address	21-14, Ambala – 134003, Haryana, India
Line of Business	Wholesalers of Textile.

CAPITAL STRUCTURE

As on 31.03.2014

Authorized Capital:

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs.10/- each	Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
325,000	Equity Shares	Rs.10/- each	Rs. 3.250 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	3.250	3.250	3.250
(b) Reserves & Surplus	32.051	31.652	31.345
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	5.640
Total Shareholders’ Funds (1) + (2)	35.301	34.902	40.235
(3) Non-Current Liabilities
(a) long-term borrowings	71.090	20.053	1.350
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	71.090	20.053	1.350
(4) Current Liabilities
(a) Short term borrowings	65.197	0.504	0.206
(b) Trade payables	204.284	114.804	46.450
(c) Other current liabilities	8.673	0.697	0.025
(d) Short-term provisions	0.121	(0.013)	0.013
Total Current Liabilities (4)	278.275	115.992	46.694
TOTAL	384.666	170.947	88.279
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	358.273	144.527	0.023
(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	0.239	5.204	0.014
(e) Other Non-current assets	0.001	0.002	0.003
Total Non-Current Assets	358.513	149.733	0.040
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	82.811
(c) Trade receivables	17.288	11.503	0.000
(d) Cash and cash equivalents	8.852	8.211	5.113
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.013	1.500	0.315
Total Current Assets	26.153	21.214	88.239
TOTAL	384.666	170.947	88.279

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Turnover	0.000	0.000	NA
		Other Income	0.781	0.526	0.350
		TOTAL	0.781	0.526	NA
Less	TOTAL EXPENSES		0.187	0.079	NA
	PROFIT BEFORE TAX		0.594	0.447	0.251
Less	TAX		0.196	0.140	0.048
	PROFIT AFTER TAX		0.398	0.307	0.203
	Earnings Per Share (Rs.)		1.23	0.95	0.62

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	0.15	0.26	0.28
Return on Investment (ROI) (PBT/Networth)		0.02	0.01	0.01
Debt Equity Ratio (Total Debt /Networth)		3.86	0.59	0.04
Current Ratio (Current Asset/Current Liability)		0.09	0.18	1.89

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	3.250	3.250	3.250
Reserves & Surplus	31.345	31.652	32.051
Share Application money pending allotment	5.640	0.000	0.000
Net worth	40.235	34.902	35.301
long-term borrowings	1.350	20.053	71.090
Short term borrowings	0.206	0.504	65.197
Total borrowings	1.556	20.557	136.287
Debt/Equity ratio	0.039	0.589	3.861

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Total Income	0.526	0.781
		48.479

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Total Income	0.526	0.781
Profit	0.307	0.398
	58.37%	50.96%

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	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
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	No
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	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

UNSECURED LOAN

Particular	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Deposits from Director	29.990	19.990
Deposits from shareholder	41.190	0.000
Total	71.180	19.990

INDEX OF CAHREGS: * NO CHARGES EXIST FOR COMPANY

FIXED ASSETS:

• Land
• Building
• Trade Mark

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.62.33
UK Pound	1	Rs.92.53
Euro	1	Rs.67.60

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	KRN
Report Prepared by :	MTN

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
--PROFITABILITY	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	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		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	--

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