MIRA INFORM REPORT

Report No. :	302479
Report Date :	16.01.2015

IDENTIFICATION DETAILS

Name :	JIWANRAM SHEODUTTRAI INDUSTRIES PRIVATE LIMITED
Registered Office :	30D, Jawaharlal Nehru Road, Kolkata – 700016, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.09.1997
Com. Reg. No.:	21-085533
Capital Investment / Paid-up Capital :	Rs.49.503 Millions
CIN No.: [Company Identification No.]	U17111WB1997PTC085533
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALJ01655D
PAN No.: [Permanent Account No.]	AAACJ7420L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Processer of Leather – based Protective Gloves, Garments and Accessories.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1100000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are reported as usually correct. In view of promoter’s extensive experience, the company can be considered for business dealings at usual 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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

Rating Agency Name	CRISIL
Rating	Long Term Rating “BBB-“
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	02.12.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating “A3“
Rating Explanation	Moderate degree of safety and very high credit risk
Date	02.12.2014

RBI DEFAULTER’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTER’ 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.

LOCATIONS

Registered Office :	30D Jawaharlal Nehru Road, Kolkata – 700016, West Bengal, India
Tel. No.:	91-33-22298566
Fax No.:	91-33-40169502
E-Mail :	fa@jiwan.co.in

DIRECTORS

As on. 30.09.2014

Name :

Mr. Alok Prakash

Designation :

Director

Address :

Flat No. 23, Block – D, 30, Jawaharlal Nehru Road, Kolkata – 700016, West Bengal, India

Date of Birth/Age :

03.04.1961

Date of Appointment :

29.1101997

PAN No.:

AACHA0703N

DIN No.:

00375634

Voter ID No.:

WB/23/149/162211

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	U17111WB1997PTC085533	JIWANRAM SHEODUTTRAI INDUSTRIES PRIVATE LIMITED	Director	29/11/1997	29/11/1997	-	Active	NO
2	U27203WB2001PTC093128	UNI-EAST ENERGY PRIVATE LIMITED	Director	19/04/2001	19/04/2001	30/03/2013	Active	NO
3	U17299WB2005PTC102342	JS CREATIONS PRIVATE LIMITED	Director	18/03/2005	18/03/2005	-	Active	NO
4	U19129WB2006PTC109139	UNITED CREATIONS PVT LTD	Director	02/05/2006	02/05/2006	-	Active	NO
5	U70101WB2006PTC110334	JS PROCON PRIVATE LIMITED	Director	03/07/2006	03/07/2006	-	Active	NO
6	U52100WB2009PTC132315	JIWAN+PIP SAFETY PRIVATE LIMITED	Director	30/01/2009	30/01/2009	-	Active	NO
7	U52390WB2010PTC145841	STAR CARBON TRADE PRIVATE LIMITED	Director	22/04/2010	22/04/2010	30/03/2013	Active	NO
8	U51103WB1970PTC027809	NARENDRA & NARENDRA (ENGINEERS) PVT LTD	Director	29/10/2011	15/03/2011	30/03/2013	Active	NO
9	U93090WB2009PTC137839	UTTORON ENGINEERING PRIVATE LIMITED	Additional director	09/08/2013	09/08/2013	-	Active	NO
10	U19115WB2013PTC198051	SATYA SAVITRI ENTERPRISES PRIVATE LIMITED	Director	23/10/2013	23/10/2013	-	Active	NO

Name :

Mr. Awadhesh Narayan Singh

Designation :

Director

Address :

268/2, S.N.Ray Road, Behala, Kolkata- 700053, West Bengal, India

Date of Birth/Age :

13.10.1949

Date of Appointment :

30.03.2013

PAN No.:

AKTPH1598Q

DIN No.:

06592823

Voter ID No.:

WB/23/148/438326

Name :

Ms. Gouri Shankar Singhania

Designation :

Director

Address :

121, Jodhpur Park, LP 145 – 9 – 8 -5, Kolkata - 700068, West Bengal, India

Date of Birth/Age :

21.09.1936

Date of Appointment :

01.07.2013

DIN No.:

06618049

Voter ID No.:

KNH0401083

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	U52100WB2009PTC132315	JIWAN+PIP SAFETY PRIVATE LIMITED	Director	20/09/2013	30/03/2013	-	Active	NO
2	U17111WB1997PTC085533	JIWANRAM SHEODUTTRAI INDUSTRIES PRIVATE LIMITED	Director	01/07/2013	01/07/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Alok Prakash (HUF)	3547200
Anupama Prakash	1320750
Alok Prakash	81300
Gyan Prakash	1100
Total	4950350

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 :

Manufacturer and Processer of Leather – based Protective Gloves, Garments and Accessories.

Products :

ITC Code	Products or Services
8308	Leather Goods
83089031	Leather Items Such as Garments, Wallet, Bags, Gloves and Shoes

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Not Available

Countries :

Not Available

Imports :

Products :

Not Available

Countries :

Not Available

Terms :

Selling :

Not Available

Purchasing :

Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

Customers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

No. of Employees :

Not Available

Bankers :

Banker Name	Canara Bank
Branch Address	Overseas Branch, 2/1 Russel Street, Kolkata – 700072, West Bengal, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Banker Name	Indian Bank
Branch Address	3A, Hare Street, Kolkata – 700001, West Bengal, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Long term maturities of finance lease obligation	5.230	2.874
Short Term Borrowing
Other Loans and advances	533.560	493.280
Total	538.790	496.154

Auditors :
Name :	S. Bhalotia and Associates Chartered Accountant
Address :	20b,British Indian Street, East India House, 1^st Floor, Room No .1 F ,Kolkata-700069, West Bengal, India
PAN No.:	ABDFS9117L
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
5000000	Equity Shares	Rs. 10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4950350	Equity Shares	Rs. 10/- each	Rs.49.503 Millions

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	49.503	49.503	49.503
(b) Reserves & Surplus	342.543	122.511	94.099
(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)	392.046	172.014	143.602
(3) Non-Current Liabilities
(a) long-term borrowings	5.230	11.045	8.898
(b) Deferred tax liabilities (Net)	0.000	1.415	1.710
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	87.401	3.303	3.409
Total Non-current Liabilities (3)	92.631	15.763	14.017
(4) Current Liabilities
(a) Short term borrowings	564.681	493.280	305.702
(b) Trade payables	116.719	214.181	143.508
(c) Other current liabilities	60.137	115.891	117.435
(d) Short-term provisions	5.798	0.000	4.603
Total Current Liabilities (4)	747.335	823.352	571.248
TOTAL	1232.012	1011.129	728.867
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	310.206	79.925	66.607
(ii) Intangible Assets	0.024	0.000	0.165
(iii) Capital work-in-progress	0.000	10.366	4.965
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	10.724	2.424	2.424
(c) Deferred tax assets (net)	-0.294	0.000	0.000
(d) Long-term Loan and Advances	6.464	9.541	4.899
(e) Other Non-current assets	47.084	0.000	6.709
Total Non-Current Assets	374.208	102.256	85.769
(2) Current assets
(a) Current investments	0.000	0.000	48.447
(b) Inventories	254.839	288.093	161.064
(c) Trade receivables	240.186	266.104	243.193
(d) Cash and cash equivalents	137.731	127.426	44.016
(e) Short-term loans and advances	225.048	227.250	13.890
(f) Other current assets	0.000	0.000	132.488
Total Current Assets	857.804	908.873	643.098
TOTAL	1232.012	1011.129	728.867

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
		NA	NA	NA
Less	EXPENSES
	PROFIT BEFORE TAX	44.648	41.215	31.648
Less	TAX	14.372	12.802	11.357
	PROFIT AFTER TAX	30.276	28.413	20.291
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	105.082	76.669	62.807
	Earnings Per Share (Rs.)	0.61	0.57	0.41

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	3.65	4.13	4.39
Return on Investment (ROI) (PBT/Networth)		0.11	0.24	0.22
Debt Equity Ratio (Total Debt /Networth)		1.45	2.93	2.19
Current Ratio (Current Asset/Current Liability)		1.15	1.10	1.13

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	49.503	49.503	49.503
Reserves & Surplus	94.099	122.511	342.543
Net worth	143.602	172.014	392.046
long-term borrowings	8.898	11.045	5.230
Short term borrowings	305.702	493.280	564.681
Total borrowings	314.600	504.325	569.911
Debt/Equity ratio	2.191	2.932	1.454

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	No
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	No
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	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

(Rs. In Millions)

PARTICULAR	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Other Loans and advances	0.000	8.171
Short Term Borrowing
Other Loans and advances	31.121	0.000
Total	31.121	8.171

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10521323	19/09/2014	29,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Guj  arat - 390015, INDIA	C21860838
2	10513212	15/07/2014	30,000,000.00	CANARA BANK	OVERSEAS BRANCH, 2/1 RUSSEL STREET, KOLKATA, West  Bengal - 700071, INDIA	C15237357
3	10414246	09/03/2013	20,000,000.00	CANARA BANK	OVERSEAS BRANCH, 2/1 RUSSEL STREET, KOLKATA, West  Bengal - 700072, INDIA	B71599591
4	10398063	03/01/2013	30,000,000.00	CANARA BANK	OVERSEAS BRANCH, 2/1 RUSSEL STREET, KOLKATA, West  Bengal - 700072, INDIA	B66243098
5	90248744	31/01/2005	15,000,000.00	CANARA BANK	OVERSEAS BRANCH, 2/1; RUSSEL STREET, CALCUTTA, We  st Bengal - 700071, INDIA	-
6	90248062	09/08/2014 *	412,500,000.00	CANARA BANK	OVERSEAS BRANCH, 2/1 RUSSEL STREET, KOLKATA, West  Bengal - 700029, INDIA	C16336307

* Date of charge modification

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.62.10
UK Pound	1	Rs.94.09
Euro	1	Rs.73.41

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	SPR

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
RBI	YES/NO	NO
EPF	YES/NO	NO
TOTAL		46

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.