MIRA INFORM REPORT

Report No. :	306133
Report Date :	06.02.2015

IDENTIFICATION DETAILS

Name :	SHREE HARI FINVEST LIMITED
Registered Office :	Shreejee Yarn Chambers, Zampa Bazar, Surat – 395003, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	13.03.1995
Com. Reg. No.:	04-000083
Capital Investment / Paid-up Capital :	Rs.0.551 Million
CIN No.: [Company Identification No.]	U65910DN1995PLC000083
TIN No.:	Not Available
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 :	Subject is engaged in activities in the nature of Investing.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ca (14)

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 :	Yet to commence commercial activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company incorporated during 1995 the company is yet to commence with its commercial activity. As claimed by Mt. Sanjay Kedia, from accounts department the company has not commenced its commercial activity since its incorporation and they have no further idea when they are going to start their activity. As per registrar of companies the status of the company is shown as active. Payment terms are unknown. The company can be considered for business dealings on a fully safe and secured trade terms and condition.

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. Sanjay Kedia
Designation :	Accounts Department (Shree Hari Chemicals Export Limited)
Contact No.:	91-22-28787081
Date :	02.02.2015

LOCATIONS

Registered Office :	Shreejee Yarn Chambers, Zampa Bazar, Surat – 395003, Gujarat, India
Tel. No.:	91-261-3212763
Fax No.:	Not Available
E-Mail :	shreeharichem@gmail.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Kishorilal Ramuka Suwalal

Designation :

Director

Address :

M/04/03 Hiramani, Bangur Nagar, Goregaon, Mumbai - 400090, Maharashtra, India

Date of Birth/Age :

07.04.1949

Date of Appointment :

13.03.1995

DIN No.:

00040695

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	U65910DN1995PLC000083	SHREE HARI FINVEST LIMITED	Director	13/03/1995	13/03/1995	-	Active	NO
2	L99999MH1987PLC044942	SHREE HARI CHEMICALS EXPORT LIMITED	Whole-time director	01/10/2014	29/10/1998	-	Active	NO
3	U26940MH1989PLC053441	NORTH INDIA CEMENTS LIMITED	Director	30/09/2008	25/08/2008	31/03/2014	Active	NO

Name :

Mr. Kailash Chand Ramuka Suwalal

Designation :

Director

Address :

J/2/16 Jal Mangal, Bangur Nagar, Goregaon, Mumbai - 400090, Maharashtra, India

Date of Birth/Age :

02.06.1951

Date of Appointment :

13.03.1995

DIN No.:

00040877

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	L99999MH1987PLC044942	SHREE HARI CHEMICALS EXPORT LIMITED	Whole-time director	01/04/2007	09/10/1989	01/04/2012	Active	NO
2	U65910DN1995PLC000083	SHREE HARI FINVEST LIMITED	Director	13/03/1995	13/03/1995	-	Active	NO
3	U26940MH1989PLC053441	NORTH INDIA CEMENTS LIMITED	Director	30/09/2008	25/08/2008	-	Active	NO

Name :

Mr. Bankesh Chandra Agrawal

Designation :

Director

Address :

41 - Royal Accord, 4th Floor, Opposite Lokhandwala Complex, Andheri, Mumbai - 400090, Maharashtra, India

Date of Birth/Age :

29.10.1951

Date of Appointment :

13.03.1995

DIN No.:

00121080

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	L99999MH1987PLC044942	SHREE HARI CHEMICALS EXPORT LIMITED	Managing director	01/03/2010	09/10/1987	-	Active	NO
2	U65910DN1995PLC000083	SHREE HARI FINVEST LIMITED	Director	13/03/1995	13/03/1995	-	Active	NO
3	U17119GJ1991PTC014906	SHUBHLAXMI DYETEX PRIVATE LIMITED	Director	01/04/1999	01/04/1999	-	Active	NO
4	U17110MH2005PLC190937	SHUBHALAKSHMI POLYESTERS LIMITED	Director	13/09/2005	13/09/2005	11/08/2014	Active	NO
5	U40109MH2010PTC199414	SAMRIDHI GLOBAL INDUSTRIES PRIVATE LIMITED	Director	28/01/2010	28/01/2010	25/03/2011	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Bankesh Chandra Agrawal	10
Ramuraman B. Agarwal	10
Ajay Babu Agarwal	10
Kishorilal Ramuka Suwalal	1510
Kailash Chand Ramuka Suwalal	10
Sohanlal Suwalal Ramuka	10
Ramchandra Suwalal Ramuka	10
Anjali R. Agarwal	1500
Priya M. Agarwal	1000
Vikram Shyamsunder Chaudhary	25000
Anil Radheshyam Kedia	25000
Total	54070

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	9.21
Other top fifty shareholders	90.79
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in activities in the nature of Investing.
Products :	--
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT APPLICABLE

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
Remark :	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
Remark :	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Information denied by management

Facilities :

--

Auditors :
Name :	K C Jain Kala and Company Chartered Accountants
Address :	"EDENA" 1st Floor, 97 Maharshi Karve Road, Near Income Tax Office, Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-22062895
Fax No.:	91-22-22089978
E-Mail :	shreeharichem@gmail.com
PAN No.:	AADSK7432P
Memberships :	--
Collaborators :	--
Enterprises over which Directors and their Relatives Exercise significant influence :	Shree Hari Chemicals Export Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
55070	Equity Shares	Rs.10/- each	Rs.0.551 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

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	0.551	0.551	0.551
(b) Reserves & Surplus	0.649	0.639	0.626
(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)	1.200	1.190	1.177
(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	0.000	0.000	0.000
(b) Trade payables	0.030	0.021	0.014
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	0.009	0.004	0.001
Total Current Liabilities (4)	0.039	0.025	0.015
TOTAL	1.239	1.215	1.192
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	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	0.760	0.760	0.760
(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	0.760	0.760	0.760
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.428	0.419	0.419
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.051	0.036	0.013
Total Current Assets	0.479	0.455	0.432
TOTAL	1.239	1.215	1.192

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.025	0.024	0.189
		TOTAL	0.025	0.024	0.189
Less	EXPENSES
		Other administrative and selling Expenses	0.010	0.008	0.009
		TOTAL	0.010	0.008	0.009
	PROFIT/(LOSS) BEFORE TAX		0.015	0.016	0.180
Less	TAX		0.005	0.003	0.002
	PROFIT/(LOSS) AFTER TAX		0.010	0.013	0.178
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.639	0.626	0.448
	BALANCE CARRIED TO THE B/S		0.649	0.639	0.626
	Earnings / (Loss) Per Share (Rs.)		0.19	0.24	3.23

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
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}	(%)	3.13	3.52	41.67
Return on Investment (ROI) (PBT/Networth)		0.01	0.01	0.15
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		12.28	18.20	28.80

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	0.551	0.551	0.551
Reserves & Surplus	0.626	0.639	0.649
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1.177	1.190	1.200
Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Total Income	0.189	0.024	0.025
		(87.302)	4.167

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	0.189	0.024	0.025
Profit	0.178	0.013	0.010
	94.18%	54.17%	40.00%

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	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	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	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	No
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

BACKGROUND REJUVENATE

Subject was founded on 13/03/1995. Subject is predominantly engaged in activities in the nature of Investing.

OPERATIONS:

The working results of the Company for the year show Net Profit of Rs.0.015 Million and the balance of Rs.0.649 Millions is carried to Balance Sheet.

NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.61.74
UK Pound	1	Rs.92.71
Euro	1	Rs.69.94

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	2
--CREDIT LINES	1~10	--
--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		14

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

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.