MIRA INFORM REPORT

Report No. :	330568
Report Date :	07.07.2015

IDENTIFICATION DETAILS

Name :	MICROPOLO OVERSEAS PRIVATE LIMITED

Registered Office :	B-133, Okhla Industrial Area, New Delhi – 110020, Delhi
Tel. No.:	91-11-40817219

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	14.11.2000

Com. Reg. No.:	55-108525

Capital Investment / Paid-up Capital :	Rs. 0.100 Million

CIN No.: [Company Identification No.]	U74899DL2000PTC108525

IEC No.:	0504087584

TAN No.: [Tax Deduction & Collection Account No.]	DELM11989F

PAN No.: [Permanent Account No.]	AACCM5060D

Legal Form :	Private Limited Liability Company

Line of Business :	Importer of Textile and garments accessories.

No. of Employees :	75 (Approximately)

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

Maximum Credit Limit :	USD 2600

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. For the financial year ended 2014, company possesses moderate operational risk profile and reported low profitability margins during a year under review. Rating further constrained on account of company’s moderate financial risk profile marked by small net worth base and huge external borrowing taken by the company which leverage the balance sheet profile. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. In view of leverage balance sheet profile, the company can be considered for business dealing with some caution.

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

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	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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. M. S. Khanna
Designation :	Chief Executive officer
Contact No.:	91-9313559044
Date :	06.07.2015

LOCATIONS

Registered Office :	B-133, Okhla Industrial Area, New Delhi – 110020, Delhi, India
Tel. No.:	91-11-40817219
Mobile No.:	91-9313559044 ((Mr. Khanna)
Fax No.:	Not Available
E-Mail :	micropolo@dga.in
Location :	Owned
Locality :	Commercial

Corporate Office :	B-18/3 Okhla Phase II, New Delhi – 110020, Delhi, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Narinder Singh Khanna

Designation :

Director

Address :

G-55 Lajpat Nagar – III, New Delhi – 110024, Delhi, India

Date of Birth/Age :

03.05.1956

Date of Appointment :

14.11.2000

DIN No.:

01626494

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	U74899DL2000PTC108525	MICROPOLO OVERSEAS PRIVATE LIMITED	Director	14/11/2000	14/11/2000	-	Active	NO
2	U17231PB2005PLC036830	K K FIBERS LIMITED	Director	25/11/2005	25/11/2005	22/12/2009	Active	NO
3	U52100DL2010PTC205820	W G IMPEX PRIVATE LIMITED	Director	13/07/2010	13/07/2010	-	Strike off	NO
4	U17301DL2006PTC153511	Tropical Exim International Private Limited	Additional director	01/10/2010	01/10/2010	30/09/2011	Active	NO

Name :

Mr. Sourabhdeep Singh Khanna

Designation :

III/G-55 Lajpat Nagar-III, New Delhi – 110024, Delhi, India

Address :

Director

Date of Birth/Age :

07.07.1984

Date of Appointment :

29.09.2012

DIN No.:

01626629

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	U17231PB2005PLC036830	K K FIBERS LIMITED	Director	25/11/2005	25/11/2005	23/12/2009	Active	NO
2	U52100DL2010PTC205820	W G IMPEX PRIVATE LIMITED	Director	13/07/2010	13/07/2010	05/12/2011	Strike off	NO
3	U74899DL2000PTC108525	MICROPOLO OVERSEAS PRIVATE LIMITED	Additional director	01/10/2010	01/10/2010	-	Active	NO
4	U17301DL2006PTC153511	Tropical Exim International Private Limited	Additional director	01/10/2010	01/10/2010	30/09/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. M S Khanna
Designation :	Chief Executive officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Narinder Singh Khanna	5000	50.00
Sourabhdeep Singh Khanna	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Importer of Textile and garments accessories.

Products :	Textile Garments Accessories

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :
Products :	Garment Accessories
Countries :	China Japan Korea Canada

Terms :
Selling :	Cash, Cheque and Credit (60/90 Days)

Purchasing :	Cash, Cheque and Credit (60/90 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Reliance Industries Limited
Name of the Person :	Not Divulged
Contact No.:	91-22-44770000
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Management Non- cooperative

Customers :

End Users

Reference :

Kundan Global Private Limited

Name of the Person :

Mr. Sourabh Khanna (Director)

Contact No.:

91-8800446883

Since How Long Known :

8 Years

Maximum Limit Dealt :

Rs. 4.000 Million (Monthly)

Experience :

Product Quality	Delivery Behaviour	Overall
Good	Good	Good

Remark:

We had a word with Mr. Sourabh Khanna (Direct) the subject company product quality is good.

No. of Employees :

75 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	M. G.Road, Gurgaon - 122002
Person Name (With Designation)	Not Divulged
Contact Number	91-124-4101050/4780401
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)	The number is constantly ringing.

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG-TERM BORROWINGS
Term loan from bank and others
Citi Bank	12.203	19.696
Standard Chartered Bank	19.231	22.840
Total	31.434	42.536


Banking Relations :	--

Auditors :
Name :	Deepak Gulati and Associates Chartered Accountants
Address :	23, Hanuman Road, Connaught Place, New Delhi – 110001, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAGFD4650H

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	0.100	0.100	0.100
(b) Reserves & Surplus	0.797	0.741	0.727
(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)	0.897	0.841	0.827

(3) Non-Current Liabilities
(a) long-term borrowings	41.534	42.636	57.791
(b) Deferred tax liabilities (Net)	0.000	0.009	0.029
(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)	41.534	42.645	57.820

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	64.646	62.046	40.643
(c) Other current liabilities	0.174	2.030	0.127
(d) Short-term provisions	0.000	0.026	0.024
Total Current Liabilities (4)	64.820	64.102	40.794

TOTAL	107.251	107.588	99.441

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	32.576	32.670	32.801
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.003	0.000	20.435
(e) Other Non-current assets	1.320	3.662	0.000
Total Non-Current Assets	33.899	36.332	53.236

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	7.224	4.251	25.312
(c) Trade receivables	62.415	64.992	19.599
(d) Cash and cash equivalents	2.660	0.955	0.239
(e) Short-term loans and advances	1.053	1.058	1.055
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	73.352	71.256	46.205

TOTAL	107.251	107.588	99.441

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income (Gross)	71.023	58.370	NA
	Other Income	NA	NA	NA
	TOTAL (A)	NA	NA	NA

Less	EXPENSES
	TOTAL (B)	1.362	1.400	NA

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	0.163	0.151

Less	FINANCIAL EXPENSES (D)	1.104	0.286

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	0.163	0.151	NA

Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.094	0.131

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	0.069	0.020

Less	TAX (H)	0.000	0.026

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	0.082	0.014	(0.012)

	Earnings / (Loss) Per Share (Rs.)	8.20	1.40	(1.20)

Particulars

31.03.2015

Sales Turnover (Approximately)

150.000

Expected Sales (2015-2016) : Rs. 250.000 Million

The above information has been parted by Mr. M.S. Khanna

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.12	0.02	NA

Return on Total Assets (PBT/Total Assets}	(%)	0.06	0.02	(0.01)

Return on Investment (ROI) (PBT/Networth)		0.08	0.02	(0.01)

Debt Equity Ratio (Total Debt /Networth)		46.30	50.70	69.88

Current Ratio (Current Asset/Current Liability)		1.13	1.11	1.13

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	0.727	0.741	0.797
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.827	0.841	0.897

long-term borrowings	57.791	42.636	41.534
Short term borrowings	0.000	0.000	0.000
Total borrowings	57.791	42.636	41.534
Debt/Equity ratio	69.880	50.697	46.303

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales (Gross)	58.370	71.023
		21.677

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales (Gross)	58.370	71.023
Profit	0.014	0.082
	0.02%	0.12%

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
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	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from B -18/3 Okhala Industrial Area Phase – I Delhi – 110020, India to the present address w.e.f. 24.03.2014

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
From Relatives
Surinder Singh Khanna	0.100	0.000
Harmesh Khanna	0.120	0.100
N.S. Khanna	9.380	0.000
Harbans K Bangoo	0.500	0.000

Total	10.100	0.100

NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

Land and Building
Computer
Machinery
Office Equipment
Vehicle

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.63.58
UK Pound	1	Rs.99.11
Euro	1	Rs.70.29

INFORMATION DETAILS

Information Gathered by :	MNJ

Analysis Done by :	KAR

Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

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

MIRA INFORM REPORT

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