MIRA INFORM REPORT

Report No. :	331645
Report Date :	11.07.2015

IDENTIFICATION DETAILS

Name :	LE MILL PRIVATE LIMITED (w.e.f. 13.05.2011)
Formerly Known As :	BOMBAY BHARAT WORKSHOP PRIVATE LIMITED (w.e.f. 26.10.2010) NATVAR PARIKH FREIGHT FORWARDERS PRIVATE LIMITED LIFT AND SHIFT INDIA PRIVATE LIMITED
Registered Office :	Plot No. 2/13, 96, Chembur Mankhurd Link Road, Next to Indian Oil Nagar, Chembur (East), Mumbai - 400043, Maharashtra
Tel. No.:	91-22-25560101/23742415/16
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.10.2005
Com. Reg. No.:	11-156637
Capital Investment / Paid-up Capital :	Rs. 10.000 Million
CIN No.: [Company Identification No.]	U63090MH2005PTC156637
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 :	Service Provider of Home Furnishing and Store.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

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 :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Company possesses weak operational performance and it has incurred huge losses from its operational activities. Due to accumulated losses incurred over a year, it has eroded net worth of the company and financial position of the company is under pressure. Business is active. Payments terms are reported to be slow. In view of week balance sheet profile, the company can be considered for business dealings on safe and secured 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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	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 DENIED

MANAGEMENT NON CO-OPERATIVE (91-22-66525241/ 25560101)

LOCATIONS

Registered Office :	Plot No. 2/13, 96, Chembur Mankhurd Link Road, Next to Indian Oil Nagar, Chembur (East), Mumbai-400043, Maharashtra, India
Tel. No.:	91-22-25560101/23742415/16
Fax No.:	Not Available
E-Mail :	manohar.oak@anpg.in indravadan.patel@anpg.in
Website :	http://www.lemillindia.com
Head Office:	Room No. 05, Zaveri Mahal, Plot No. 66, Netaji Subhash Road, Martine Drive Mumbai-400020, Maharashtra, India
Breach Candy Store	2 Meherabad, Near St. Stephens Church, Warden Road, Breach Road, Mumbai – 400036, Maharashtra, India
Tel. No.:	91-22-23684461/62/63
E-Mail :	customercare@lemill.in

DIRECTORS

AS ON 30.09.2014

Name :

Ms. Apurva Natvarlal Parikh

Designation :

Director

Address :

23, Vijay Mahal D Road, Marine Drive, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

20.02.1951

Date of Appointment :

10.03.2010

DIN No.:

00155235

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	U74210MH1959PTC011288	RELIANCE CONSTRUCTION PRIVATE LIMITED	Director	02-05-1989	02-05-1989	-	Active	NO
2	U63010MH1959PTC011380	APURVA NATVAR PARIKH AND COMPANY PRIVATE LIMITED	Managing director	01-10-2011	02-05-1989	-	Active	NO
3	U45201GJ1995PTC025211	CHANCHAL PROPERTIES PRIVATE LIMITED	Director	29-03-1995	29-03-1995	-	Active	NO
4	U74140MH2005PTC174770	LIFT AND SHIFT INDIA PRIVATE LIMITED	Director	02-09-2005	02-09-2005	-	Active	NO
5	U63090MH2005PTC156637	LE MILL PRIVATE LIMITED	Director	10-03-2010	10-10-2005	-	Active	NO
6	U63090WB2006PTC108304	ACS SHIPPING PRIVATE LIMITED	Director	02-01-2007	02-01-2007	-	Active	NO
7	U72200MH2006PTC161409	S2S IT SOLUTIONS PRIVATE LIMITED	Director	03-12-2007	03-12-2007	16-02-2015	Active	NO
8	AAA-7912	ZENANP ADCORP LLP	Body corporate as Designated Partner	07-02-2012	07-02-2012	05-11-2012	Active	NO

Name :

Mr. Rohan Apurva Parikh

Designation :

Director

Address :

B/15 Zaver Mahal Netaji Subhash Road, Marine Drive, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

22.05.1979

Date of Appointment :

10.03.2010

DIN No.:

00155626

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	U55100MH2005PTC155644	RIO HOSPITALITY AND MANAGEMENT PRIVATE LIMITED	Director	26-08-2005	26-08-2005	24-12-2009	Active	NO
2	U63010MH1959PTC011380	APURVA NATVAR PARIKH AND COMPANY PRIVATE LIMITED	Whole-time director	02-09-2014	21-04-2006	-	Active	NO
3	U74140MH2005PTC174770	LIFT AND SHIFT INDIA PRIVATE LIMITED	Whole-time director	02-09-2014	12-12-2006	-	Active	NO
4	U63090WB2006PTC108304	ACS SHIPPING PRIVATE LIMITED	Director	02-01-2007	02-01-2007	-	Active	NO
5	U63090MH2005PTC156637	LE MILL PRIVATE LIMITED	Director	10-03-2010	01-04-2009	-	Active	NO
6	U74210MH1959PTC011288	RELIANCE CONSTRUCTION PRIVATE LIMITED	Director	01-04-2009	01-04-2009	-	Active	NO
7	U93000MH2012PTC235441	Kool Solutions India Private Limited	Director	29-09-2014	11-10-2013	-	Active	NO

Name :

Mr. Cecilia Rohan Parikh

Designation :

Director

Address :

B/15 Zaver Mahal Netaji Subhash Road, Marine Drive, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

25.02.1982

Date of Appointment :

04.04.2011

DIN No.:

03515742

KEY EXECUTIVES

Name :	Ms. Tania
Designation :	Store Manager

MAJOR SHAREHOLDERS

As on: 30.09.2014

Names of Shareholders	No. of Shares
Navtar Parikh and Company Private Limited, India	1
Rohan Apurva Parikh	199999
Cecilia Rohan Parikh	800000
Total	1000000

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 :	Service Provider of Home Furnishing and Store.
Products :	--
Brand Names :	Lemill
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
Maximum Limit Dealt :	Not Divulged
Experience :	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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Banker Name	Not Divulged
Branch Address	Not Divulged
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

Auditors :
Name :	P.P. Patel and Company Chartered Accountants
Address :	403 Sharda Chambers No.1, 4th Floor, 31 Keshavji Naik Road, Bhat Bazar, Mumbai-400009, Maharashtra, India
Tel. No.:	91-22-2375425/2671358
PAN N Income-tax PAN of auditor or auditor's firm :	AABPP9305N
Memberships :	Not Available
Collaborators :	Not Available
Associates:	Apurva Natvar Parikh and Company Private Limited Lift and Shift India Private Limited Atlantis Developments Private Limited
Partners are Director:	Bombay Bharat Swadeshi Rice Mills Depot

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 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	10.000	10.000	0.100
(b) Reserves & Surplus	(68.772)	(42.229)	(19.959)
(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)	(58.772)	(32.229)	(19.859)
(3) Non-Current Liabilities
(a) long-term borrowings	145.600	108.902	71.720
(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)	145.600	108.902	71.720
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	6.504	3.545	4.990
(c) Other current liabilities	0.000	0.380	0.600
(d) Short-term provisions	13.375	11.313	8.696
Total Current Liabilities (4)	19.879	15.238	14.286
TOTAL	106.707	91.911	66.147
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	16.769	18.100	16.674
(ii) Intangible Assets	1.762	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	5.072	5.092	0.112
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	23.603	23.192	16.786
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	67.895	52.987	40.473
(c) Trade receivables	0.601	0.244	0.170
(d) Cash and cash equivalents	3.196	4.065	2.549
(e) Short-term loans and advances	11.412	11.423	6.169
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	83.104	68.719	49.361
TOTAL	106.707	91.911	66.147

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Turnover	78.600	55.500	44.500
	EXPENSES		NA	NA	NA
	PROFIT (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(24.207)	(20.123)	(15.025)
Less/ Add	DEPRECIATION/ AMORTISATION		2.336	2.148	0.000
	PROFIT (LOSS) BEFORE TAX		(26.543)	(22.271)	(15.025)
Less	TAX		0.000	0.000	0.000
	PROFIT (LOSS) AFTER TAX		(26.543)	(22.271)	(15.025)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(42.229)	(19.958)	(4.933)
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. Value of Exports	16.166	4.742	9.509
	TOTAL EARNINGS		16.166	4.742	9.509
	Earnings Per Share (Rs.)		(26.54)	(22.27)	(1502.60)

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) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	(24.87)	(24.23)	(22.71)
Return on Investment (ROI) (PBT/Networth)		0.45	0.69	0.76
Debt Equity Ratio (Total Debt /Networth)		(2.48)	(3.38)	(3.61)
Current Ratio (Current Asset/Current Liability)		4.18	4.51	3.46

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	10.000	10.000
Reserves & Surplus	(19.959)	(42.229)	(68.772)
Net worth	(19.859)	(32.229)	(58.772)
long-term borrowings	71.720	108.902	145.600
Short term borrowings	0.000	0.000	0.000
Total borrowings	71.720	108.902	145.600
Debt/Equity ratio	(3.611)	(3.379)	(2.477)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Turnover	44.500	55.500	78.600
		24.719	41.622

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	44.500	55.500	78.600
Profit	(15.025)	(22.271)	(26.543)
	(33.76%)	(40.13%)	(33.77%)

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

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG-TERM BORROWINGS
Loan from related party	145.600	108.902
Total	145.600	108.902

FIXED ASSETS

• Furniture and Fixture
• Shop
• Office Equipment
• Computer
• Vehicle
• Plant and Machinery

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.63.38
UK Pound	1	Rs.97.65
Euro	1	Rs.70.43

INFORMATION DETAILS

Information Gathered by :	GAY
Analysis Done by :	KAR
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	-
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	1
--RESERVES	1~10	-
--CREDIT LINES	1~10	-
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.