MIRA INFORM REPORT

Report No. :	303965
Report Date :	21.01.2015

IDENTIFICATION DETAILS

Name :	SURANI PAPER PRIVATE LIMITED
Registered Office :	Shree Gajanan Timber Suppliers, 323/7, Rajbhai Patel Timber, Narol-Isanpur Road, Narol, Ahmedabad – 382405, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	03.06.2011
Com. Reg. No.:	04-065726
Capital Investment / Paid-up Capital :	Rs.0.600 Millions
CIN No.: [Company Identification No.]	U21000GJ2011PTC065726
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 :	Manufacturer of paper, craft paper.
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

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 an established company having moderate track record. Management of the company has failed to file its latest financial after 2012 with the government department. Mr. Amit Patel (Chief Executive Officer) has provided us with all information. Further, he also claimed that the company has started its commercial activity one and half year ago. However, business is active as per the status shown in the registrar of companies. Payment terms are reported to be unknown. The company can be considered for business dealings on safe and secured 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.

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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Amit Patel
Designation :	Chief Executive Officer
Contact No.:	91-9924235696
Date :	19.01.2015

LOCATIONS

Registered Office :	Shree Gajanan Timber Suppliers, 323/7, Rajbhai Patel Timber, Narol-Isanpur Road, Narol, Ahmedabad – 382405, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9924235696 (Mr. Amit Patel)
Fax No.:	Not Available
E-Mail :	suranipaper@gmail.com
Location :	Owned
Factory :	Survey #651, 652, 653, 693, Kashipura Malarpura Road, Kanera Village, Kheda, Gujarat, India

DIRECTORS

As on 29.09.2012

Name :	Mr. Ravjibhai Mehul Patel
Designation :	Director
Address :	52, Antisar Society, Behind Tulshi Kunj, Ghodasar, Ahmedabad – 380050, Gujarat, India
Date of Birth/Age :	06.06.1984
Date of Appointment :	03.06.2011
DIN No.:	03476062
Name :	Mr. Danabhai Maheshbhai Patel
Designation :	Director
Address :	BA-48-50, Antisar Society, Ghodasar, Ahmedabad – 380050, Gujarat, India
Date of Birth/Age :	24.07.1971
Date of Appointment :	03.06.2011
DIN No.:	03475830
Name :	Mr. Karsanbahi Hansrajbhai Patel
Designation :	Director
Address :	BA-46, Antisar Society, Ghodasar, Ahmedabad – 380050, Gujarat, India
Date of Birth/Age :	01.05.1957
Date of Appointment :	03.06.2011
DIN No.:	03476052
Name :	Mr. Ratilal Prakash Patel
Designation :	Director
Address :	101/A, Samasta Brahmkshtriya Cooperative Housing Society, Near Chandra Nagar, Narayan Nagar Road, Paldi, Ahmedabad – 380007, Gujarat, India
Date of Birth/Age :	08.06.1976
Date of Appointment :	03.06.2011
DIN No.:	03527123
Name :	Mr. Devjibhai Ramjibhai Patel
Designation :	Director
Address :	21/B, Mangal Park Society, Gita Mandir Road, Bhulabhai Park, Kankaria, Ahmedabad – 380022, Gujarat, India
Date of Birth/Age :	16.02.1954
Date of Appointment :	03.06.2011
DIN No.:	03527126
Name :	Mr. Lakhubhai Surendrabhai Patel
Designation :	Director
Address :	BA-44, Antisar Society, Ghodasar, Ahmedabad – 380050, Gujarat, India
Date of Birth/Age :	01.01.1963
Date of Appointment :	03.06.2011
DIN No.:	03476044

KEY EXECUTIVES

Name :	Mr. Amit Patel
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

SHAREHOLDING DETAIL FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of paper, craft paper.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	Machine Parts
Countries :	China
Terms :
Selling :	Cash and Credit (30-60-90 Days)
Purchasing :	Cash and Credit (30-60-90 Days)

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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

• End Users
• OEMS

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 :

10 (Approximately)

Bankers :

Bank Name	The Karur Vysya Bank Limited
Branch	Gls Maninagar Branch, Opposite Rasna Hotel, Maninagar Char Rasta, Ahmedabad - 380008, Gujarat, 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)	Cash Credit Rs. 130.000 Millions
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	SARC and Associates Chartered Accountants
Address :	F - 305, Kavita Shopping Centre, Opposite G P O Road, Anand – 388001, Gujarat, India
Tel. No.:	91-2692-254853
E-Mail :	himatlal@sarcmail.in
PAN N Income-tax PAN of auditor or auditor's firm :
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AFTER 29.09.2012

Authorised Capital : Rs. 40.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 40.000 Millions

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
60000	Equity Shares	Rs.10/- each	Rs. 0.600 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.600
(b) Reserves & Surplus	0.000
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	1.603
Total Shareholders’ Funds (1) + (2)	2.203
(3) Non-Current Liabilities
(a) long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.206
(c) Other current liabilities	0.000
(d) Short-term provisions	0.000
Total Current Liabilities (4)	0.206
TOTAL	2.409
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	2.018
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.060
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.025
(e) Other Non-current assets	0.153
Total Non-Current Assets	2.256
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	0.033
(e) Short-term loans and advances	0.120
(f) Other current assets	0.000
Total Current Assets	0.153
TOTAL	2.409

KEY RATIOS

PARTICULARS	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	0.00
Current Ratio (Current Asset/Current Liability)	0.74

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS: NOT AVAILABLE

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	No
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	Yes
20]	Export / Import details (if applicable)	Yes
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

WORKING OF THE COMPANY

The that company their company in now setting up factory building premises, administrative office and factory shed under construction during the previous year and the directors has place order for plant and machinery as per their requirement. The directors of the company is willing to start trial run production in January 2013.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10388811	04/09/2014 *	168,250,000.00	THE KARUR VYSYA BANK LTD	GLS MANINAGAR BRANCH, OPP. RASNA HOTEL, MANINAGAR CHAR RASTA, AHMEDABAD, GUJARAT - 380008, INDIA	C33302852

* 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 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.61.85
UK Pound	1	Rs.93.27
Euro	1	Rs.71.57

INFORMATION DETAILS

Information Gathered by :	PAT
Analysis Done by :	RAS
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		12

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.