MIRA INFORM REPORT

Report No. :	328807
Report Date :	26.06.2015

IDENTIFICATION DETAILS

Name :	KALINGA INCEPTUM PRIVATE LIMITED (w.e.f.10.06.2011)
Formerly Known As :	EMERALD INTERIORS AND WALLPAPERS PRIVATE LIMITED (w.e.f. 26.02.2011) EMERALD WALLPAPERS PRIVATE LIMITED
Registered Office :	14, Uday Building, 236-B, Ground Floor, Opposite Apna Bazar, J.N. Road, Mulund (West), Mumbai – 400080, Maharashtra
Tel. No.:	91-22-32647258
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	12.09.2008
Com. Reg. No.:	11-186686
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U74900MH2008PTC186686
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUME07554B
PAN No.: [Permanent Account No.]	AACCE0769P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Paint Chemicals.
No. of Employees :	5 (Approximately)

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 Behavior :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Management has failed to file its financial record with government department for the year 2014. As per previous financial record of 2013, the company has possesses weak financial risk profile and huge accumulated losses incurred by the company which has eroded net worth of the company. Business is active. Payments are reported to be slow. In view of weak 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 PARTED BY

Name :	Mr. Ramesh Kumar
Designation :	Account Department
Contact No.:	91-9819226266
Date :	24.06.2015

LOCATIONS

Registered Office :	14, Uday Building, 236-B, Ground Floor, Opposite Apna Bazar, J.N. Road, Mulund (West), Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-32647258
Mobile No.:	91-9819226266 (Mr. Ramesh Kumar)
Fax No.:	Not Available
E-Mail :	sonalkotharics@gmail.com rameshmk3@gmail.com kalingainception@yahoo.co.in rameshmk3@gmail.com
Location :	Rented, Residential and Industrial
Factory:	C – 19, Maruti Compound, J.N. Road. Opposite Namdev hotel, Kalher, bhiwandi - 421302, Thane, Maharashtra, India

DIRECTORS

AS ON 26.09.2013

Name :	Mr. Nilesh Mukund Karkhanis
Designation :	Director
Address :	571 Room No. 2, Shivaji Nagar, Maruti Mandir, Ambarnath East - 421501, Thane, Maharashtra, India
Date of Birth/Age :	17.06.1981
Date of Appointment :	02.01.2012
DIN No.:	03416903
Name :	Mr. Mahendra Sadanand Monde
Designation :	Director
Address :	16/18, Ganesh Bhavan, 1^st Floor, 2^nd Bhatwadi, Girgaum, Mumbai – 400004, Maharashtra, India
Date of Birth/Age :	29.06.1979
Date of Appointment :	02.01.2012
DIN No.:	05308606

KEY EXECUTIVES

Name :	Mr. Ramesh Kumar
Designation :	Account Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2013

Names of Shareholders	No. of Shares	%age holding
Prabhakar Amol Desai	3000	30.00
Shamsunder Kettan Karkhanis	2000	20.00
Bhalchandra Prasant Nachane	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 26.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Paint Chemicals.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

GENERAL INFORMATION

Suppliers :

Reference :	Time Polyure thane Private Limited
Name of the Person :	Mr. Chandra Prakash Rahi
Contact No.:	91-9820597444
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Wholesalers and Retailers

Reference :	Prakash Paint
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:	Constantly Ringing

No. of Employees :

5 (Approximately)

Bankers :

Bank Name	Bank of Baroda
Branch	PM Road, 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)	Current Account only
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :
Name :	Mehta and Parmar Chartered Accountant
Address :	730,8^TH Floor , Ecstasy Building, Citi Of Joy, Mulund (West), Mumbai-400080, Maharashtra, India
Tel. No.:	91-22-25690520
Fax No.:	91-22-25671145
E-Mail :	mehta.parmar@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	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
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

ABRIDGED BALANCE SHEET

FINANCIAL DATA

[all figures are in Rupees Million]

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	(19.475)	(14.366)	(12.343)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.785
Total Shareholders’ Funds (1) + (2)	(19.375)	(14.266)	(11.458)
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.599	0.506	0.391
(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)	0.599	0.506	0.391
(4) Current Liabilities
(a) Short term borrowings	6.632	7.545	7.656
(b) Trade payables	31.618	32.677	12.771
(c) Other current liabilities	9.781	4.775	0.001
(d) Short-term provisions	0.790	0.269	0.299
Total Current Liabilities (4)	48.821	45.266	20.727
TOTAL	30.045	31.506	9.660
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.949	5.980	6.319
(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	1.675	1.675	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.149	0.174	0.417
(e) Other Non-current assets	0.000	2.668	2.668
Total Non-Current Assets	7.773	10.497	9.404
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.262	0.575	0.064
(c) Trade receivables	9.801	4.701	0.055
(d) Cash and cash equivalents	0.686	5.126	0.021
(e) Short-term loans and advances	8.523	10.607	0.116
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	22.272	21.009	0.256
TOTAL	30.045	31.506	9.660

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	TOTAL INCOME	NA	82.794	3.765
Less	TOTAL EXPENSES	NA	84.702	10.008
	PROFIT BEFORE TAX	NA	(1.908)	(6.243)
Less	TAX	NA	0.115	0.144
	PROFIT AFTER TAX	(5.109)	(2.023)	(6.387)
	Earnings Per Share (Rs.)	(510.90)	(202.30)	(638.70)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2013	31.03.2012	31.03.2011
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2015
Sales Turnover	9.200

Expected Sales (2015-16) : Rs. 50.000 Million

The above information has been parted by Mr. Ramesh Kumar (Account department)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT / Sales)	(%)	NA	(2.44)	(169.64)
Net Profit Margin (PBT/Sales)	(%)	NA	(2.30)	(165.82)
Return on Total Assets (PBT/Total Assets}	(%)	NA	(6.40)	(64.63)
Return on Investment (ROI) (PBT/Networth)		NA	0.13	0.54
Debt Equity Ratio (Total Liability/Networth)		(0.34)	(0.53)	(0.67)
Current Ratio (Current Asset/Current Liability)		0.46	0.46	0.01

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	(12.343)	(14.366)	(19.475)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.785	0.000	0.000
Net worth	(11.458)	(14.266)	(19.375)
long-term borrowings	0.000	0.000	0.000
Short term borrowings	7.656	7.545	6.632
Total borrowings	7.656	7.545	6.632
Debt/Equity ratio	(0.668)	(0.529)	(0.342)

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)	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	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	No
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 705 The Corporate Centre, Nirmal Lifestyles, LBS Marg, Mulund (West), Mumbai - 400080, Maharashtra, India to the present address w.e.f. 01.12.2011.

UNSECURED LOAN

Unsecured Loan	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
Short-term borrowings
Loans Repayable On Demand
Loans From Shareholders	6.632	7.545
Total	6.632	7.545

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Furniture and Fixtures
• Plant and Machinery
• Factory Premises

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.63.61
UK Pound	1	Rs.99.79
Euro	1	Rs.71.16

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAR
Report Prepared by :	DDD

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
--PROFITABILIRY	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	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		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 unfavorable 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.