MIRA INFORM REPORT

Report No. :	303854
Report Date :	20.01.2015

IDENTIFICATION DETAILS

Name :	JINDAL BUILTECH PRIVATE LIMITED
Registered Office :	Village Kishanpura, Baddi Nalagarh Road, Baddi, District Solan – 174 101, Himachal Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	10.06.2005
Com. Reg. No.:	06-028534
Capital Investment / Paid-up Capital :	Rs.14.800 millions
CIN No.: [Company Identification No.]	U45201HP2005PTC028534
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 :	Real Estate Developer
No. of Employees :	Information declined by the Management.

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Management of the company have not filed its latest financial i.e. 2014 with the Government Department. As per available financial of 2013, general financial position of the company seems to be normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered normal 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

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 DECLINED BY

Name :	Mr. Shyamlal Chauhan
Designation :	General Manager
Contact No.:	91-9882000095
Date :	19.01.2015

LOCATIONS

Registered Office :	Village Kishanpura, Baddi Nalagarh Road, Baddi, District Solan – 174 101, Himachal Pradesh, India
Tel. No. :	91-1795-236009
Mobile No. :	91-9882000095 (Mr. Shyamlal Chauhan)
Fax No. :	91-1795-236593
E-Mail :	sumitmittal@jindalbuildsys.com slchauhan@jindalbuildsys.com
Plant :	Dhela Road, P.O. Manpura, Tehsil-Nalagarh, District Solan – 174 001, Himachal Pradesh, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Abhishek Jindal

Designation :

Director

Address :

26-B, Samay Vihar, Sector-13, Rohini, Delhi, India

Date of Appointment :

10.05.2013

DIN No. :

00227197

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	U34300DL2005PTC132466	AADHUNIK ENERCON PRIVATE LIMITED	Director	28/01/2005	28/01/2005	28/03/2008	Active	NO
2	U18101HR2005PTC035809	ADINATH FURNISHING PRIVATE LIMITED	Director	25/07/2005	25/07/2005	-	Active	NO
3	U34300DL2006PTC146215	JINDAL SOFT ITALIA SEATING PRIVATE LIMITED	Whole-time director	30/09/2006	13/02/2006	-	Active	NO
4	U70109DL2012PLC231637	JINDAL INFRASYS LIMITED	Director	16/02/2012	16/02/2012	-	Active	NO
5	U74899DL1995PLC071183	JINDAL NIRYAT LIMITED	Director	15/02/2013	15/02/2013	-	Active	NO
6	U45201HP2005PTC028534	JINDAL BUILTECH PRIVATE LIMITED	Director	10/05/2013	10/05/2013	-	Active	NO
7	U17214HP2005PTC028535	JINDAL PADDINGS PRIVATE LIMITED	Additional director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mrs. Anita Jindal

Designation :

Additional Director

Address :

40, Bhagirathi, Plot No.13, Sector-9, Rohini, Delhi, India

Date of Birth/Age :

30.01.1956

Date of Appointment :

26.08.2013

DIN No. :

02403021

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	U34102DL1996PTC078545	SARVPRIYA MOTORS PRIVATE LIMITED	Director	26/04/1996	26/04/1996	-	Active	NO
2	U65921PB1996PTC018202	JINDAL FINLEASE PRIVATE LIMITED	Director	20/05/1996	20/05/1996	31/03/2010	Active	NO
3	U34300DL2005PTC132465	ADHUNIK AUTOMOTIVES PRIVATE LIMITED	Director	30/09/2014	01/12/2009	-	Active	NO
4	U01400DL2011PTC226992	JINDAL AGRIFOODS PRIVATE LIMITED	Director	03/11/2011	03/11/2011	-	Active	NO
5	U17214HP2005PTC028535	JINDAL PADDINGS PRIVATE LIMITED	Director	10/05/2013	10/05/2013	-	Active	NO
6	U45201HP2005PTC028534	JINDAL BUILTECH PRIVATE LIMITED	Additional director	26/08/2013	26/08/2013	-	Active	NO
7	U70101PB1999PTC022986	SARVPRIYA AWAS AND DEVELOPMENTS PRIVATE LIMITED	Director	14/07/2014	14/07/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shyamlal Chauhan
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Om Prakash Jindal	240000
Vivek Jindal	250000
Madan Jindal HUF	150000
Sarvpriya Tubes (Private) Limited, India	10
Shruti Prakash Jindal	280000
Anita Jindal	250000
Kamlesh Jindal	60000
Abhishek Jindal	250000
Total	1480010

AS ON 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Real Estate Developer
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

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

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

No. of Employees :

Information declined by the Management.

Bankers :

Banker Name	Allahabad Bank
Branch Address	Sector-4, Railway Road, Gurgaon – 122 001, Haryana, India
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

HDFC Bank Limited

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Term Loan – Banks
Allahabad Bank	4.500	17.514
SHORT TERM BORROWINGS
Loan Repayable on demand
From Banks (Cash Credit)	79.891	73.586
Total	84.391	91.100

Banking Relations :	--
Auditors :
Name :	Goyal Mahajan and Associates Chartered Accountants
Address :	SCO-50,1^st Floor, Leela Bhawan Complex, Patiala – 147 001, Punjab, India
PAN No.:	AAVPG3334Q
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1480010	Equity Shares	Rs.10/- each	Rs.14.800 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	14.800	14.800	14.800
(b) Reserves & Surplus	148.661	121.004	85.243
(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)	163.461	135.804	100.043
(3) Non-Current Liabilities
(a) Long-term borrowings	4.867	18.334	27.173
(b) Deferred tax liabilities (Net)	2.002	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.307	0.195	0.166
Total Non-current Liabilities (3)	7.176	18.529	27.339
(4) Current Liabilities
(a) Short term borrowings	79.891	73.586	55.715
(b) Trade payables	88.698	35.579	58.702
(c) Other current liabilities	98.749	30.634	116.905
(d) Short-term provisions	6.591	6.502	5.090
Total Current Liabilities (4)	273.929	146.301	236.412
TOTAL	444.566	300.634	363.794
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	52.361	56.971	63.950
(ii) Intangible Assets	0.047	0.050	0.052
(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	1.200	1.200	1.200
(e) Other Non-current assets	0.060	0.000	0.018
Total Non-Current Assets	53.668	58.221	65.220
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	275.087	151.258	197.925
(c) Trade receivables	55.617	52.620	74.498
(d) Cash and cash equivalents	13.969	3.944	6.016
(e) Short-term loans and advances	44.534	34.554	20.112
(f) Other current assets	1.691	0.037	0.023
Total Current Assets	390.898	242.413	298.574
TOTAL	444.566	300.634	363.794

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from Operation	460.400	NA	327.600
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		45.731	NA	41.678
Less/ Add	DEPRECIATION/ AMORTISATION		6.495	NA	8.491
	PROFIT/ (LOSS) BEFORE TAX		39.236	NA	33.187
Less	TAX		11.578	NA	0.610
	PROFIT/ (LOSS) AFTER TAX		27.658	35.761	32.577
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		115.604	79.843	47.266
	BALANCE CARRIED TO THE B/S		143.262	115.604	79.843
	Earnings / (Loss) Per Share (Rs.)		18.69	24.16	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	8.83	NA	9.12
Return on Investment (ROI) (PBT/Networth)		0.24	NA	0.33
Debt Equity Ratio (Total Debt/Networth)		0.52	0.68	0.83
Current Ratio (Current Asset/Current Liability)		1.43	1.66	1.26

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	14.800	14.800	14.800
Reserves & Surplus	85.243	121.004	148.661
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	100.043	135.804	163.461
Long Term borrowings	27.173	18.334	4.867
Short Term borrowings	55.715	73.586	79.891
Total borrowings	82.888	91.920	84.758
Debt/Equity ratio	0.829	0.677	0.519

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two 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	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	No
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

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
From Others (HDFC Loan A/c)	0.367	0.820
Total	0.367	0.820

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10337023	24/01/2012	197,700,000.00	ALLAHABAD BANK	SECTOR-4, RAILWAY ROAD, GURGAON, HARYANA - 122001, INDIA	B32728917
2	10117743	01/08/2008	3,000,000.00	MEMBER SECRETAY	SINGLE WINDOW CLEARANCE AGANCY, BADDI, HIMACHAL PRADESH - 171001, INDIA	A43696681

FIXED ASSETS:

Tangible Assets

· Land

· Building

· Plant and Equipment

· Furniture and Fixture

· Vehicle

· Office Equipment

· Generator Set

· Computer

· Telephone/ Mobile

· Weighbridge

· Electric Installation

Intangible Assets

· Computer Software

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.61.70
UK Pound	1	Rs.93.41
Euro	1	Rs.71.33

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	DIV
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
-- PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.