MIRA INFORM REPORT

Report No. :	334026
Report Date :	01.08.2015

IDENTIFICATION DETAILS

Name :	AHMEDABAD EAST INFRASTRUCTURE LLP
Registered Office :	24, Government Servant's Society, Near Municipal Market, Off. C G Road, Navrangpura, Ahmedabad – 380009, Gujarat
Tel. No.:	91-79-30137038
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	12.07.2010
Total Obligation of Contribution:	Rs. 0.100 Million
LLPIN:	AAA-1786
IEC No.:	Not Available
TIN No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Limited Liability Partnership
Line of Business :	Construction activity.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is Limited Liability Partnership establish on 12^th July, 2010 and it is having moderate track record. Rating is constrained, concerns have not incurred any income from its inceptions and it have reported huge expenses over the years. However, as per registrar business is active. Payments are reported to be unknown. The Limited Liability Partnership concern can be considered for the business dealing on fully safe and secure terms and conditions.

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 31-03-2013.

INFORMATION PARTED BY

Name :	Ms. Ritika Panchal
Designation :	Finance Manager
Contact No.:	91-79-30137038
Date :	31.07.2015

LOCATIONS

Registered Office :	24, Government Servant's Society, Near Municipal Market, Off. C G Road, Navrangpura, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-30137038
Fax No.:	Not Available
E-Mail :	vicky.sindhi@arvind.in

/PARTNERS

Name :	Mr. Prakash Bhogibhai Makwana
Designation :	Designated Partner
Address :	B-403, Pushparaj Tower, Bodakdev, Taluka Daskroi, Ahmedabad - 380054, Gujarat, India
Date of Appointment :	01.07.2014
DPIN No.:	00008382
Name :	Mr. Jagdish Gajanand Dalal
Designation :	Designated Partner
Address :	5-B, Malay Society, Manekbag Hall, Ambawadi, Ahmedabad - 380015, Gujarat, India
Date of Appointment :	01.12.2013
DPIN No.:	00009785
Name :	Mr. Sharadkumar Govindlal Patel
Designation :	Designated Partner
Address :	5, Sudarshan Society Part -II, Naranpura, Ahmedabad - 380013, Gujarat, India
Date of Appointment :	26.04.2013
DPIN No.:	02007632
Name :	Mr. Kamal Singal
Designation :	Designated Partner
Address :	E-1103, Safal Parivesh, Near Prahaladnagar Garden, 100 Foot Road, Vejalpur, Ahmedabad - 380051, Gujarat, India
Date of Appointment :	12.12.2013
DPIN No.:	02524196

KEY EXECUTIVES

Name :	Ms. Ritika Panchal
Designation :	Finance Manager

OBLIGATION DETAILS

Name of Person	Obligation of Contribution (Rs. In Million)
Arvind Infrastructure Limited	0.051
Dinesh Jasraj Jain	0.020
Sharadkumar Govindlal Patel	0.020
Arvind Infrabuild LLP	0.002
Arvind Limited	0.007
Total	0.100

BUSINESS DETAILS

Line of Business :	Construction activity.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

Not Divulged

Bankers :

Banker Name	Not Divulged
Branch Address	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 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

Auditors :
Name :	G K Choksi and Company Chartered Accountants
Address :	Madhuban Bear Madalpur Underbridge, Ahmedabad – 380006, Gujarat, India
Tel. No.:	91-79-30012009
Mobile No.:	91-992517455-56
Fax No.:	91-79-26569929
E-Mail :	info@gkcco.com
Memberships :	--
Collaborators :	--
Enterprises gaining control – managing / Executive Partner :	· Arvind Infrastructure Limited
Other related party	· Arvind Infrabuild LLP · Arvind Limited

CAPITAL STRUCTURE

AS ON 31.03.2015

Partner’s Initial Contributions	Obligation of Contribution (Rs. In Million)
Arvind Infrastructure Limited	0.051
Dinesh Jasraj Jain	0.020
Sharadkumar Govindlal Patel	0.020
Arvind Infrabuild LLP	0.002
Arvind Limited	0.007
Total	0.100

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1) Partners Fund
(a) Partner’s Initial Contribution	0.100	0.100	0.100
(b) Partners Additional Contribution	(12.787)	(1.318)	23.513
Total Partners Fund (1) + (2)	(12.687)	(1.218)	23.613
(3) Non-Current Liabilities
(a) long-term borrowings	376.368	386.868	381.639
(b) Deferred tax liabilities (Net)	0.138	0.072	0.000
(c) Other long term liabilities	60.248	41.233	29.078
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	436.754	428.173	410.717
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	13.207	0.320	0.028
(c) Other current liabilities	154.268	87.290	0.000
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	167.475	87.610	0.028
TOTAL	591.542	514.565	434.358
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.383	3.352	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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	424.928	430.144	389.674
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	429.311	433.496	389.674
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	158.784	77.380	44.270
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.113	0.832	0.414
(e) Short-term loans and advances	3.334	2.857	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	162.231	81.069	44.684
TOTAL	591.542	514.565	434.358

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	0.000	0.000	0.000
	Other Income	0.000	0.000	0.000
	TOTAL (A)	0.000	0.000	0.000
Less	EXPENSES
	Project expenses	58.449	19.448	8.205
	Changes in inventories	(77.935)	(32.428)	(44.270)
	Employees cost	0.000	0.031	1.650
	Other expenses	9.018	1.989	0.060
	TOTAL (B)	(10.468)	(10.960)	(34.355)
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	10.468	10.960	34.355
Less	FINANCIAL EXPENSES (D)	19.014	12.928	34.415
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(8.546)	(1.968)	(0.060)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.472	0.020	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(9.018)	(1.988)	(0.060)
Less	TAX (H)	0.066	0.072	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(9.084)	(2.060)	(0.060)

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.00	0.00	0.00
Operating Profit Margin (PBIDT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(1.52)	(0.39)	(0.01)
Return on Investment (ROI) (PBT/Networth)		0.71	1.63	0.00
Debt Equity Ratio (Total Debt /Networth)		(29.67)	(317.63)	16.16
Current Ratio (Current Asset/Current Liability)		0.97	0.93	1595.86

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100	0.100
Partners Additional Contribution	23.513	(1.318)	(12.787)
Net worth	23.613	(1.218)	(12.687)
long-term borrowings	381.639	386.868	376.368
Short term borrowings	0.000	0.000	0.000
Total borrowings	381.639	386.868	376.368
Debt/Equity ratio	16.162	-317.626	-29.666

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	No
10	Date of Birth of Proprietor / Partners / Directors	No
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWING
From related party	376.368	386.868
Total	376.368	386.868

FIXED ASSETS

· Plant and Machinery

· Vehicles

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.64.01
UK Pound	1	Rs.99.84
Euro	1	Rs.70.16

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	KAS
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	--
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	--
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	1
--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		11

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.