MIRA INFORM REPORT

Report No. :	328869
Report Date :	24.06.2015

IDENTIFICATION DETAILS

Name :	VIVANK ENTERPRISES PRIVATE LIMITED
Registered Office :	F-246, 1st Floor, Dreams The Mall LBS Marg, Bhandup (West), Mumbai – 400078, Maharashtra
Tel. No.:	91-22-25628063
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.08.2008
Com. Reg. No.:	11-186179
Capital Investment / Paid-up Capital :	Rs. 0.800 Million
CIN No.: [Company Identification No.]	U45300MH2008PTC186179
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCV8700D
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Specialty Chemical.
No. of Employees :	10 (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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Rating takes into consideration company’s moderate financial risk profile marked by weak net worth base. Profitability of the company is under pressure. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. Subject can be considered for business dealings with great 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	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) DEFAILTERS’ 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. Prasad Bhole
Designation :	Accountant
Contact No.:	91-22-25628063
Date :	26.06.2015

LOCATIONS

Registered Office :	F-246, 1st Floor, Dreams The Mall LBS Marg, Bhandup (West), Mumbai – 400078, Maharashtra, India
Tel. No.:	91-22-25628063/21661261
Fax No.:	Not Available
E-Mail :	vivank.enterprises@gmail.com rameshmk3@gmail.com
Area :	200 Sq. Ft.
Location :	Rented
Locality :	Commercial
Warehouse :	Gala No. 60, Maruti Compound, Survey No. 23, Kasheli Village, Bhiwandi, Thane – 421308, Maharashtra, India
Area :	1000 Sq. Ft.
Location :	Rented
Locality :	Commercial

DIRECTORS

As on 26.09.2013

Name :	Mr. Malhar Nandkumar Karkhanis
Designation :	Director
Address :	10/301, Brahmand Phase 5, Near Ghodbander Road, Azadnagar, Thane – 400607, Maharashtra, India
Date of Birth/Age :	12.09.1980
Date of Appointment :	29.09.2012
DIN No.:	05309668
Name :	Mr. Nilesh Mukund Karkhanis
Designation :	Director
Address :	571, R. no. 2, Shivaji Nagar, Maruti Mandir, Ambarnath – East, Thane – 421501, Maharashtra, India
Date of Birth/Age :	17.06.1981
Date of Appointment :	02.04.2013
DIN No.:	03416903

KEY EXECUTIVES

Name :	Mr. Prasad Bhole
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Shrradha Kettan Karkhanis	9000	11.25
Sharad Ramchandra Padwal	21000	26.25
Malhar Nandkumar Karkhanis	50000	62.50
Total	80000	100.00

As on 26.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Specialty Chemical.
Products :	Specialty Chemical
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash, Credit and Cheque
Purchasing :	Cash, Credit and Cheque

PRODUCTION STATUS : Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Mihir Tradelinks
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 :	Time Pollyeurethane Private Limited
Name of the Person :	Mr. Chandraprakash Rahi (Director)
Contact No.:	91-9820597444
Since How Long Known :	3 Years
Experience :	Excellent
Maximum Limit Dealt :	He informed that we are very much satisfied by their product quality and payment behavior

No. of Employees :

10 (Approximately)

Bankers :

Banker Name	Bank of Maharashtra
Branch Address	Nahur Branch, Mumbai, Maharashtra, India
Person Name (With Designation)	Ms. Neha Agarwal (Manager)
Contact Number	91-22-25619139
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)	Ms. Neha Agarwal (Manager) she denied to provide her opinion about subject company.

Auditors :
Name :	Mehta and Parmar Chartered Accountants
Address :	14 “Uday”, 236-B J.N. Road, Mulund (West), Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-25613400
Fax No.:	91-22-25608350
E-Mail :	mehta_parmar@yahoo.com
PAN No.:	AAHFM0618F
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 26.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
80000	Equity Shares	Rs. 10/- each	Rs. 0.800 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	0.800	0.100	0.100
(b) Reserves & Surplus	(0.191)	(0.240)	(0.366)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.700	0.000
Total Shareholders’ Funds (1) + (2)	0.609	0.560	(0.266)
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	1.900
(b) Trade payables	32.207	43.195	8.482
(c) Other current liabilities	0.000	2.125	0.000
(d) Short-term provisions	0.013	(0.028)	(0.012)
Total Current Liabilities (4)	32.220	45.292	10.370
TOTAL	32.829	45.852	10.104
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(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	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.015	0.029
Total Non-Current Assets	0.000	0.015	0.029
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.356	0.356	0.000
(c) Trade receivables	23.926	44.760	9.867
(d) Cash and cash equivalents	0.976	0.716	0.126
(e) Short-term loans and advances	7.535	0.005	0.082
(f) Other current assets	0.036	0.000	0.000
Total Current Assets	32.829	45.837	10.075
TOTAL	32.829	45.852	10.104

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	138.451	121.422	42.613
	Other Income	0.000	0.000	0.000
	TOTAL (A)	138.451	121.422	42.613
Less	EXPENSES
	Cost of Materials Consumed	0.000	0.000	0.000
	Purchases of Stock-in-Trade	137.393	121.431	42.956
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	(0.356)	0.000
	Employees benefits expense	0.000	0.000	0.000
	Other expenses	0.485	0.172	0.013
	TOTAL (B)	137.878	121.247	42.969
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	0.573	0.175	-0.356
Less	FINANCIAL EXPENSES (D)	0.493	0.005	0.001
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	0.080	0.170	-0.357
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.015	0.015	0.014
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	0.065	0.155	-0.371
Less	TAX (H)	0.016	0.030	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	0.049	0.125	-0.371
	Earnings / (Loss) Per Share (Rs.)	0.55	1.40	-4.13

Expected Sales (2014-2015) : Rs. 250.000 Million

The above information has been parted by Mr. Prasad Bhole

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

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.04	0.10	(0.87)
Operating Profit Margin (PBIDT/Sales)	(%)	0.41	0.14	(0.84)
Return on Total Assets (PBT/Total Assets}	(%)	0.20	0.34	(3.67)
Return on Investment (ROI) (PBT/Networth)		0.11	0.28	1.39
Debt Equity Ratio (Total Liability/Networth)		0.00	0.00	(7.14)
Current Ratio (Current Asset/Current Liability)		1.02	1.01	0.97

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	0.800
Reserves & Surplus	(0.366)	(0.240)	(0.191)
Share Application money pending allotment	0.000	0.700	0.000
Net worth	(0.266)	0.560	0.609
long-term borrowings	0.000	0.000	0.000
Short term borrowings	1.900	0.000	0.000
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	1.900	0.000	0.000
Debt/Equity ratio	(7.143)	0.000	0.000

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)
Sales	42.613	121.422	138.451
		184.941	14.025

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	42.613	121.422	138.451
Profit	(0.371)	0.125	0.049
	(0.87%)	0.10%	0.04%

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	Yes
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)	No
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	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	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 14 Uday Building, Ground Floor, 236 B, J.N. Road, Mulund (West), Mumbai – 400080, Maharashtra, India to the present address but the same has not been updated in the government registry

INDEX OF CHARGES: No Charges Exist for Company

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. 63.64
UK Pound	1	Rs.100.41
Euro	1	Rs.71.63

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SAN
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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.