MIRA INFORM REPORT

Report No. :	317113
Report Date :	17.04.2015

IDENTIFICATION DETAILS

Name :	SKAI AUTO PRIVATE LIMITED
Registered Office :	Sector – 15, Phase-II, Gurgaon – 122001, Haryana
Tel. No.:	91-11-42258324
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	20.06.1994
Com. Reg. No.:	55-032323
Capital Investment / Paid-up Capital :	Rs.1.980 Million
CIN No.: [Company Identification No.]	U34300HR1994PTC032323
IEC No.:	Not Available
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 Supplier of Horn, bikes switches, flasher.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Status :	Small company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its scale of activities are limited. The company has improved its performance during 2014 marked by an increase in its profit. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for small and mediocre business dealings with some cautions.

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

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 DENIED BY

Name :	Mr. Purushottam
Designation :	Purchase Manager
Contact No.:	91-9991409596
Date :	14.02.2015

LOCATIONS

Registered Office :	Sector – 15, Phase-II, Gurgaon – 122001, Haryana
Tel. No.:	91-11-42258324
Mobile No.:	91-9991409596 (Mr. Purushottam)
Fax No.:	Not Available
E-Mail :	skaiauto01@gmail.com vishnugautam@yahoo.com
Factory :	Plot No.181 A, Sector – 3, IMT, Manesar, Gurgaon, India

DIRECTORS

As on 29.09.2014

Name :

Mrs. Kalpana Minda

Designation :

Director

Address :

AK 10, Shalimar Bagh, Delhi – 110088, India

Date of Birth/Age :

12.09.1960

Date of Appointment :

02.05.2005

DIN No.:

00292902

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	U74899DL1995PTC065276	JAY SWITCHES (INDIA) PRIVATE LIMITED	Director	20/02/1995	20/02/1995	13/07/2012	Active	NO
2	U34300HR1994PTC032323	SKAI AUTO PRIVATE LIMITED	Director	02/05/2005	02/05/2005	-	Active	NO

Name :

Mr. Kartik Minda

Designation :

Director

Address :

670, Sector – 15, Phase – II, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

27.04.1995

Date of Appointment :

11.01.2014

DIN No.:

06751223

KEY EXECUTIVES

Name :	Mr. Manoj
Designation :	Plant Head
Name :	Mr. Vijay
Designation :	Account Head
Name :	Mr. Purushottam
Designation :	Purchase Manager

MAJOR SHAREHOLDERS

As on 29.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Kalpana Minda	190000	95.96
Kunal Minda	8000	4.04
Total	198000	100.00

As on 29.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of Horn, bikes switches, flasher.
Products :	Wheel hubs Car magnet Wheel plates Car body kit Bluetooth car kit Window regulator
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	Canara Bank
Branch Address	3-F, Kamla Nagar, Delhi – 110007, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Loan Repayable on Demand
From Kotak Mahindra Prime Limited	0.000	0.354
From Axis Bank Limited	1.178	2.086
Total	1.178	2.440

Auditors :
Name :	V. C. Gautam and Company Chartered Accountants
Address :	B-3, Kailash Colony, New Delhi – 110048, India
Mobile No.:	91-9953183624
PAN No.:	AAAFV3990J
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
198000	Equity Shares	Rs.10/- each	Rs.1.980 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	1.980	1.980	1.980
(b) Reserves & Surplus	12.234	7.720	6.886
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	14.214	9.700	8.866
(3) Non-Current Liabilities
(a) long-term borrowings	16.262	14.317	12.017
(b) Deferred tax liabilities (Net)	0.146	0.908	0.785
(c) Other long term liabilities	1.263	1.269	1.048
(d) long-term provisions	0.000	1.121	0.643
Total Non-current Liabilities (3)	17.671	17.615	14.493
(4) Current Liabilities
(a) Short term borrowings	1.178	2.440	0.881
(b) Trade payables	18.374	20.550	22.344
(c) Other current liabilities	0.671	0.586	0.427
(d) Short-term provisions	0.268	0.615	0.478
Total Current Liabilities (4)	20.491	24.191	24.130
TOTAL	52.376	51.506	47.489
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	21.078	27.216	22.900
(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	0.075	0.699	0.699
(e) Other Non-current assets	0.000	0.000	0.022
Total Non-Current Assets	21.153	27.915	23.621
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2.807	3.586	4.482
(c) Trade receivables	12.109	9.004	8.685
(d) Cash and cash equivalents	6.038	1.371	1.548
(e) Short-term loans and advances	6.454	4.440	2.970
(f) Other current assets	3.815	5.190	6.183
Total Current Assets	31.223	23.591	23.868
TOTAL	52.376	51.506	47.489

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
PROFIT FOR THE YEAR	4.513	0.834	0.759

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	1.23	1.73	1.45
Current Ratio (Current Asset/Current Liability)	1.52	0.98	0.99

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	1.980	1.980	1.980
Reserves & Surplus	6.886	7.720	12.234
Net worth	8.866	9.700	14.214
long-term borrowings	12.017	14.317	16.262
Short term borrowings	0.881	2.440	1.178
Total borrowings	12.898	16.757	17.440
Debt/Equity ratio	1.455	1.728	1.227

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

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans from Director
Mrs. Kalpana Minda	14.162	14.222
Mr. Kartik Minda	2.100	0.000
Loans from relative
Khushboo Minda	0.000	0.095
Total	16.262	14.317

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10016051	22/07/2006	1,500,000.00	Canara Bank	3-F, Kamla Nagar, Delhi, Delhi - 110007, INDIA	A02870483
2	10014679	22/07/2006	6,000,000.00	Canara Bank	3-F, Kamla Nagar, Delhi, Delhi - 110007, INDIA	A02869840

* Date of charge modification

FIXED ASSETS

• Land
• Building
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer and Software
• Tools and Dies
• Crates

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.62.36
UK Pound	1	Rs.92.44
Euro	1	Rs.66.55

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	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		28

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.