MIRA INFORM REPORT

Report No. :	353830
Report Date :	10.12.2015

IDENTIFICATION DETAILS

Name :	NIRVAN RESOURCES PRIVATE LIMITED
Registered Office :	432, G. T. Road (N), Howrah-711101, West Bengal
Mob No.:	91-9879594927 (Mr. Paras Vola)
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	13.07.1987
Com. Reg. No.:	21-042677
Capital Investment / Paid-up Capital :	Rs. 13.159 Million
CIN No.: [Company Identification No.]	U74300WB1987PTC042677
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	CALN00843D
PAN No.: [Permanent Account No.]	AAACN8562H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of basic Iron and Steel. (Registered Activity)
No. of Employees :	Not Divulged

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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject was established in the year 1987 and it is having moderate track record. As per the director report of 2015, company has not earned income from operations and it has other income during the year under a review. The Company has reported other income of Rs. 0.106 Million consisting of interest income for the current year as compared to Rs. 0.039 Million in the previous year. The Profit for the year under review amounted to Rs. 0.038 Million in the current year as compared to Profit of Rs. 0.002 Million in the previous year. As per our sources and investigation, information on the company’s operations are not available from any sources and management of the company has also denied to disclose information to us. Business is active as per the status shown in the Registrar of Companies. Payments are reported to be unknown. In view of aforesaid the subject can be considered for business dealings on safe and secured trade 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

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 31-03-2015.

INFORMATION DECLINED BY

Name :	Mr. Paras Vola
Designation :	Chartered Accountant
Contact No.:	91-9879594927
Date :	09.12.2015

LOCATIONS

Registered Office :	432, G. T. Road (N), Howrah-711101, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91-9879594927 (Mr. Paras Vola)
Fax No.:	Not Available
E-Mail :	dmsvilkiassociates@yahoo.com

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Pragneshbhai Ishverlal Jariwala
Designation :	Director
Address :	G-2, Somnath Mahadev Society, Old Umra Jakatnaka, Surat-395007, Gujarat, India
Date of Appointment :	30.09.2009
DIN No.:	00274721
Name :	Mr. Ishverlal Shivlal Jariwala
Designation :	Director
Address :	G-2, Somnath Mahadev Society,, Ichchhanath Road, Surat-395007, Gujarat, India
Date of Appointment :	30.09.2009
DIN No.:	00340935

KEY EXECUTIVES

Name :	Mr. Paras Vola
Designation :	Chartered Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2015

Names of Shareholders	No. of Shares
Simplex VinIlmay Private Limited, India	661800
Ishverlal Shivlal Jariwala HUF	627350
Pragneshbhai Ishverlal Jariwala HUF	24508
Puja Chemical Private Limited, India	2250
Total	1315908

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	50.46
Directors or relatives of directors	49.54
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of basic Iron and Steel. (Registered Activity)

Products :

ITC Code No.	Product Descriptions
2410	Manufacture of basic Iron and Steel

Brand Names :

--

Agencies Held :

--

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

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 :

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 :

Not Divulged

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

· Bank of Baroda

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Asha Kalra and Associates Chartered Accountants
Address :	5/C, Ratnashyam Apartment, Ghod Dod Road, Surat-395001, Gujarat, India
Mobile No.:	91-8306622275
E-Mail :	caashakalra@yahoo.com
Income-tax PAN of auditor or auditor's firm :	AYRPK8515D
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
1,400,000	Equity Shares	Rs. 10/- each	Rs. 14.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,315,908	Equity Shares	Rs. 10/- each	Rs. 13.159 Million

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)Shareholders' Funds
(a) Share Capital	13.159	13.159	13.159
(b) Reserves & Surplus	165.333	165.295	165.293
(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)	178.492	178.454	178.452
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	2.122	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.043	0.009	0.039
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	2.165	0.009	0.039
TOTAL	180.657	178.463	178.491
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.122	3.844	3.844
(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	172.934	172.934	172.934
(c) Deferred tax assets (net)	0.000	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	175.056	176.778	176.778
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1.380	1.380	1.380
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.276	0.298	0.333
(e) Short-term loans and advances	3.925	0.000	0.000
(f) Other current assets	0.020	0.007	0.000
Total Current Assets	5.601	1.685	1.713
TOTAL	180.657	178.463	178.491

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Revenue from Operations	0.000	0.000	0.000
		Other Income	0.106	0.039	0.072
		TOTAL	0.106	0.039	0.072
Less	EXPENSES
		Other expenses	0.017	0.036	0.040
		TOTAL	0.017	0.036	0.040
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.089	0.003	0.032
Less	FINANCIAL EXPENSES		0.001	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.088	0.003	0.032
Less/ Add	DEPRECIATION/ AMORTISATION		0.000	0.000	0.000
	EXCEPTIONAL ITEMS		(0.022)	0.000	0.000
	PROFIT BEFORE TAX		0.066	0.003	0.032
Less	TAX		0.028	0.001	0.000
	PROFIT AFTER TAX		0.038	0.002	0.032
	Earnings Per Share (Rs.)		0.03	0.00	0.02

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from used in Operations	NA	NA	NA

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 (PBDIT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.85	0.05	0.58
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00
Debt Equity Ratio (Total Debt/Networth)		0.01	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.59	187.22	43.92

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	13.159	13.159	13.159
Reserves & Surplus	165.293	165.295	165.333
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	178.452	178.454	178.492
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	2.122
Total borrowings	0.000	0.000	2.122
Debt/Equity ratio	0.000	0.000	0.012

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	0.072	0.039	0.106
		-45.833	171.795

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	0.072	0.039	0.106
Profit	0.032	0.002	0.038
	44.44%	5.13%	35.85%

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	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
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	No
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	Yes
25	Last accounts filed at ROC, if applicable	Yes
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	Yes
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 LOANS

PARTICULARS	31.03.2015 (Rs. In Million)	31.03.2014 (Rs. In Million)
SHORT TERM BORROWINGS
Loans repayable on demand
Banks
Pragnesh Jariwala	2.122	0.000
Total	2.122	0.000

OPERATIONS:

The Company has reported other income of Rs. 0.106 Million consisting of interest income for the current year as compared to Rs. 0.039 Million in the previous year. The Profit for the year amounted to Rs. 0.038 Million in the current year as compared to Profit of Rs. 0.002 Million in the previous year.

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from 9/12, Lal Bazar Street, Kolkata-700001, West Bengal, India to the present address w.e.f 13.01.2012

FIXED ASSETS:

Tangible Assets

· Land

Buildings

Plant and Equipment

Furniture and Fixtures

Vehicles

Office Equipment

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. 66.75
UK Pound	1	Rs. 100.29
Euro	1	Rs. 72.89

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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	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.