MIRA INFORM REPORT

Report No. :	319272
Report Date :	30.05.2015

IDENTIFICATION DETAILS

Name :		SUKHI INDIA PRIVATE LIMITED
Registered Office :		620, Ring Road Mall, 6^th Floor, Mangalam Palace, Sector – 3, Rohini, New Delhi - 110085
Tel. No.:	91-11-47082939
Country :		India
Financials (as on) :		31.03.2014
Date of Incorporation :		01.05.1995
Com. Reg. No.:		55-068050
Capital Investment / Paid-up Capital :		Rs.4.022 Million
CIN No.: [Company Identification No.]		U74899DL1995PTC068050
IEC No. :		4001000067
TAN No.: [Tax Deduction & Collection Account No.]		Not Available
PAN No.: [Permanent Account No.]		AABCS2653K
Legal Form :		Private Limited Liability Company
Line of Business :		Manufacturer and Exporter of Reprocessed Plastic Agglomerates and Granules.
No. of Employees :		10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company possesses a moderate financial profile marked by modest networth base and high total outside liabilities to tangible networth ratio along with modestly piled up inventory which may harm the liquidity profile. Management has witnessed a better increase in its miniscule net profitability during FY 2014 The rating also take into consideration, the susceptibility of the overall business profile to the seasonal nature of the business, characterized by the recent unseasonal rain and last year’s deficient monsoon, coupled with the weak forecasts during the year 2015. However, trade relations seem to be fair. Business is active. Payment terms are reported as 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 (GENERAL DETAILS)

Name :	Mr. Vishnu
Designation :	Accounts Department
Contact No.:	91-8820256150
Date :	27.04.2015

LOCATIONS

Registered Office :	620, Ring Road Mall, 6^th Floor, Mangalam Palace, Sector – 3, Rohini, New Delhi – 110085, India
Tel. No.:	91-11-47082939
Mobile No.:	91-8820256150 (Mr. Vishnu)
Fax No.:	Not Available
E-Mail :	sukhiinindia@sify.com rakhechaca@gmail.com
Corporate Office :	401, GDITL, North Externtion, A-9, Netaji Subhash Place, Pitampura, Delhi -110034, India
Factory :	Falta Special Economic Zone, Sector – 1, 24, Parganas (South), West Bengal, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Shyam Sunder Karnani

Designation :

Director

Address :

House No. 103, Engineers Enclave, New Delhi – 110088, India

Date of Birth/Age :

25.11.1956

Date of Appointment :

15.04.1996

DIN No.:

00615183

Name :

Mr. Dinesh Karnany

Designation :

Director

Address :

Engineers Enclave, Pitam Pura – 110034, New Delhi, India

Date of Birth/Age :

05.08.1980

Date of Appointment :

06.01.2005

DIN No.:

01497322

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	U74899DL1995PTC068050	SUKHI INDIA PRIVATE LIMITED	DIRECTOR	06-01-2005	06-01-2005	ACTIVE	NO
2	U65593DL1992PLC047465	QUICK INFIN LIMITED	DIRECTOR	30-09-2013	22-07-2013	ACTIVE	NO
3	U51211DL1998PTC094971	NARA EXIM PRIVATE LIMITED	ADDITIONAL DIRECTOR	25-02-2015	25-02-2015	ACTIVE	NO

KEY EXECUTIVES

Name :	Mr. Vishnu
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Shyam Sunder Karnani	71510
Ashok Kumar Karnani	24010
Jyana Devi Karnani	12500
Kanchan Devi Karnani	1000
Laxmi Naravan Karnani	15300
Laxmi Narayan Karnani (HUF)	5000
Mahaveer Pd. Jhawar	15000
Maina Devi Bagri	14000
Maina Devi Karnani	36000
Manoj Kumar Jhanwar	11000
Sandeep Tanwar	12000
Santosh Devi Karnani	17000
Sohan Lal Karnani	10000
Sunil Jhanwar	9500
Suresh Kumar Karnani	28500
Veena Devi Karnani	1000
Sohan Lal Karnani (HUF)	5000
Mahabir Bagri	2500
Sanjay Bang	2000
Sunita Karnany	10000
Indra Devi Karnany	42000
Deepak Karnani	10000
Quick Infin Limited, India	22400
Dinesh Kumar Karnani	25000
Total	402220

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	5.57
Directors or relatives of directors	94.43
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Reprocessed Plastic Agglomerates and Granules.
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	Nepal
Terms :
Selling :	L/C and Credit
Purchasing :	L/C and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Manufacturer

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

10 (Approximately)

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Allahabad Bank

· CITI Bank

· Corporation Bank

· HDFC Bank

· ICICI Bank

· Punjab national Bank

· State Bank of India

· Vijaya Bank

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Term Loan Bank	0.469	0.934
Total	0.469	0.934

Banking Relations :	--
Auditors :
Name :	Rakhecha and Company Chartered Accountants
Address :	4866/1, 2^nd Floor, Behind Sanjeevan Hospital 24, Ansari Road, Daryaganj, New Delhi – 110002, India
Tel. No.:	91-11-2328854/ 43503994
E-Mail :	rakhecha@yahoo.co.in
Income-tax PAN of auditor or auditor's firm :	AAKFR2643E
Associates/Subsidiaries :	· Nara Exim Private Limited, India · Quick Infin Limited, India

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs. 10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
402,220	Equity Shares	Rs. 10/- each	Rs. 4.022 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	4.022	4.022	4.022
(b) Reserves & Surplus	27.903	26.402	25.594
(c) Money received against share warrants	0.000	0.000	0.000
	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	31.925	30.424	29.616
(3) Non-Current Liabilities
(a) Long-term borrowings	9.569	13.074	0.261
(b) Deferred tax liabilities (Net)	0.330	0.189	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	2.004	2.004	1.378
Total Non-current Liabilities (3)	11.903	15.267	1.639
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	21.319	42.226	37.450
(c) Other current liabilities	49.890	64.990	10.842
(d) Short-term provisions	0.756	0.000	0.255
Total Current Liabilities (4)	71.965	107.216	48.547
TOTAL	115.793	152.907	79.802
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9.677	7.930	5.510
(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	0.088
(d) Long-term Loan and Advances	5.145	17.142	15.623
(e) Other Non-current assets
Total Non-Current Assets	14.822	25.072	21.221
(2) Current assets
(a) Current investments
(b) Inventories	74.874	115.418	32.366
(c) Trade receivables	0.513	0.760	20.042
(d) Cash and cash equivalents	24.070	11.181	2.028
(e) Short-term loans and advances	1.184	0.476	3.799
(f) Other current assets	0.330	0.000	0.346
Total Current Assets	100.971	127.835	58.581
TOTAL	115.793	152.907	79.802

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Turnover	NA	NA	237.266
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES		NA	NA	NA
	PROFIT BEFORE TAX		NA	NA	0.956
Less	TAX		NA	NA	0.152
	PROFIT AFTER TAX		1.501	0.807	0.804
	EARNINGS IN FOREIGN CURRENCY		177.502	84.524	182.430
	Earnings Per Share (Rs.)		3.73	2.01	2.00

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	1.20
Return on Investment (ROI) (PBT/Networth)		NA	NA	0.03
Debt Equity Ratio (Total Debt/Networth)		0.30	0.43	0.01
Current Ratio (Current Asset/Current Liability)		1.40	1.19	1.21

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	4.022	4.022	4.022
Reserves & Surplus	25.594	26.402	27.903
Net worth	29.616	30.424	31.925
Long-term borrowings	0.261	13.074	9.569
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.261	13.074	9.569
Debt/Equity ratio	0.009	0.430	0.300

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 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	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

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Loan from Directors	0.000	1.500
Loan from Share Holder	0.000	6.640
Loan from Other	9.100	4.000
Total	9.100	12.140

GENERNAL INFORMATION:

Sukhi india private limited (‘the company’) was incorporated on 01.05.1995 under the companies, Act, 1995. The company is primarily engaged in Manufacturing of Reprocessed Plastic Agglomerates and Granules. Company has Manufacturing unit in Falta SE2, Bishlra, West Bengal.

FIXED ASSETS:

· Factory Building

· Plant and Machinery

· Furniture and fixture

· Vehicles

· Office Equipment’s

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. 63.20
UK Pound	1	Rs. 97.01
Euro	1	Rs. 69.34

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	SUB
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	4
--RESERVES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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.