MIRA INFORM REPORT

Report No. :	317574
Report Date :	18.04.2015

IDENTIFICATION DETAILS

Name :	RAJ WOODART INTERIOR LIMITED
Registered Office :	M - 19, M Block Market, Greater Kailash – II, New Delhi - 110048
Tel. No.:	91-129-4055888
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.08.2011
Com. Reg. No.:	55-224026
Capital Investment / Paid-up Capital :	Rs.5.000 Million
CIN No.: [Company Identification No.]	U45403DL2011PLC224026
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELR22227C
PAN No.: [Permanent Account No.]	AAFCR8433C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Service provider of turkey solutions, interior designing and decoration, modular furniture and office partitions.
No. of Employees :	40 (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 19000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Even though the company was incorporated on 23^rd August 2011, it has commenced its business operations from financial year 2013-14. It is having moderate track. Mr. Batra, accounts manager has provided information to us. The rating is constrained on account of company’s limited track record of business operations and low reserves of the company. However, company has achieved decent sales turnover in its first year of business operations. Trade relations are fair. Business is active. Payments are reported to be slow but correct. 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

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. Batra
Designation :	Account Manager
Contact No.:	91-129-4191919
Date :	14.04.2015

LOCATIONS

Registered Office :	M - 19, M Block Market, Greater Kailash – II, New Delhi - 110048
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	info@rwil.in
Website :	www.rwil.in
Corporate Office :	16/5, Mathura Road, Faridabad – 121002, Haryana, India
Tel. No.:	91-129-4055888 / 4191919
Fax No.:	91-129-4191926

DIRECTORS

As on 30.09.2014

Name :

Kanchan Arora

Designation :

Director

Address :

570/16, Faridabad – 121002, Haryana, India

Date of Birth/Age :

01.12.1960

Date of Appointment :

23.08.2011

DIN No.:

00286594

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	U20299HR2001PTC034786	RAJ INTER DECOR PRIVATE LIMITED	Director	06/12/2001	06/12/2001	-	Active	NO
2	U45403DL2011PLC224026	RAJ WOODART INTERIOR LIMITED	Director	23/08/2011	23/08/2011	-	Active	NO

Name :

Mr. Raj Kumar

Designation :

Director

Address :

HN – 570, Sector – 15, Faridabad – 121007, Haryana, India

Date of Birth/Age :

07.12.1959

Date of Appointment :

23.08.2011

DIN No.:

03275152

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	U45403DL2011PLC224026	RAJ WOODART INTERIOR LIMITED	Director	23/08/2011	23/08/2011	-	Active	NO
2	U72900DL2011PTC224344	XCELSERV SOLUTIONS PRIVATE LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Sumit Arora

Designation :

Director

Address :

H. No. 1464, Sector – 15, Faridabad – 121002, Haryana, India

Date of Birth/Age :

12.01.1989

Date of Appointment :

23.08.2011

DIN No.:

03275156

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	U45403DL2011PLC224026	RAJ WOODART INTERIOR LIMITED	Director	23/08/2011	23/08/2011	-	Active	NO
2	U72900DL2011PTC224344	XCELSERV SOLUTIONS PRIVATE LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Amit Arora

Designation :

Director

Address :

H. No. – 1464, Sector – 15, Faridabad – 121002, Haryana, India

Date of Birth/Age :

20.04.1990

Date of Appointment :

05.04.2013

DIN No.:

06511783

KEY EXECUTIVES

Name :	Mr. Batra
Designation :	Account Manager

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Sumit Arora	2500
Veenus Arora	2500
Amit Arora	2500
Anita Chaudhary	1000
Mahesh Kumar Chaudhary	1500
Raj Kumar	475000
Kanchan Arora	15000
Total	500000

As on 30.09.2014

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 :	Service provider of turkey solutions, interior designing and decoration, modular furniture and office partitions.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit (30/60/90 Days)
Purchasing :	Cash and Credit (30/60/90 Days)

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 :

End Users and OMEs

• Sapient
• Tata Consultancy Services
• ITC Limited
• Accenture
• Fidelity
• IFFCO Tokio 
• Magnolia

No. of Employees :

40 (Approximately)

Bankers :

Banker Name	Oriental Bank of Commerce
Branch Address	Neelam Chowk, NIT, Faridabad – 121001, Haryana, 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)	Cash Credit = Rs.10.500 Million
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
LONG TERM BORROWING
From other parties
Car loan from Daimler Financial Security India Private Limited	1.013	0.000
SHORT TERM BORROWING
From Banks
Cc A/c with Oriental Bank of Commerce (Primarily Secured against hypothecation of stocks and book debts of the company and also against personal guarantee of all the directors of the company)	3.777	0.000
Total	4.790	0.000

Auditors :
Name :	Dinesh Ahuja and Associates Chartered Accountants
Address :	782, Sector 15A, Faridabad – 121002, Haryana, India
PAN No.:	ADKPA4111D
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
500000	Equity Shares	Rs.10/- each	Rs.5.000 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	5.000	0.500	0.466
(b) Reserves & Surplus	1.943	(0.034)	0.000
(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)	6.943	0.466	0.466
(3) Non-Current Liabilities
(a) long-term borrowings	1.013	0.000	0.000
(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)	1.013	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	5.667	0.000	0.000
(b) Trade payables	46.654	0.000	0.000
(c) Other current liabilities	0.972	0.000	0.000
(d) Short-term provisions	6.843	0.000	0.000
Total Current Liabilities (4)	60.136	0.000	0.000
TOTAL	68.092	0.466	0.466
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.411	0.000	0.000
(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)	0.009	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3.420	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	16.007	0.000	0.000
(c) Trade receivables	32.672	0.000	0.000
(d) Cash and cash equivalents	5.069	0.466	0.466
(e) Short-term loans and advances	10.924	0.000	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	64.672	0.466	0.466
TOTAL	68.092	0.466	0.466

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014
	SALES
	Income	149.386
	Other Income	0.029
	TOTAL	149.415
Less	EXPENSES
	Cost of Materials Consumed	126.150
	Employees benefits expense	15.848
	Other expenses	3.310
	TOTAL	145.308
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	4.107
Less	FINANCIAL EXPENSES	0.752
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	3.355
Less/ Add	DEPRECIATION/ AMORTISATION	0.403
	PROFIT/ (LOSS) BEFORE TAX	2.952
Less	TAX	0.976
	PROFIT/ (LOSS) AFTER TAX	1.976
	Earnings / (Loss) Per Share (Rs.)	3.95

Expected Sales (2014-2015): Rs.300.000 Million

The above information has been parted by Mr. Batra (Account Manager).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.32	NA	NA
Operating Profit Margin (PBDIT / Sales)	(%)	2.75	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.34	NA	NA
Return on Investment (ROI) (PBT/Networth)		0.43	NA	NA
Debt Equity Ratio (Total Debt /Networth)		0.96	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.08	0.00	0.00

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	0.466	0.500	5.000
Reserves & Surplus	0.000	-0.034	1.943
Net worth	0.466	0.466	6.943
long-term borrowings	0.000	0.000	1.013
Short term borrowings	0.000	0.000	5.667
Total borrowings	0.000	0.000	6.680
Debt/Equity ratio	0.000	0.000	0.962

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 one year	Yes
12]	Profitability for last one year	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	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	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
SHORT TERM BORROWING
Loans repayable on demand from other parties
Raj Kumar Arora	1.865	0.000
Sumit Arora	0.025	0.000
Total	1.890	0.000

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10436044	12/12/2014 *	70,000,000.00	ORIENTAL BANK OF COMMERCE	NEELAM CHOWK, NIT, FARIDABAD, Haryana - 121001, INDIA	C37281045

* Date of charge modification

FIXED ASSETS

• Car
• Computer
• Furniture and Fixtures

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.62.34
UK Pound	1	Rs.93.09
Euro	1	Rs.67.13

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAR
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
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		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.