MIRA INFORM REPORT

Report No. :	310329
Report Date :	04.02.2015

IDENTIFICATION DETAILS

Name :	MOHARIR AUTO PRIVATE LIMITED

Registered Office :	Plot No.2, Sr No. 295/1, Mumbai Agra Road, Village Pathardi, Nashik – 422011, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	25.11.2011

Com. Reg. No.:	11-224408

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

CIN No.: [Company Identification No.]	U50102MH2011PTC224408

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	NSKM07987A

PAN No.: [Permanent Account No.]	AAHCM5612N

Legal Form :	Private Limited Liability Company

Line of Business :	Dealer of Mercedes benz E class and Passenger vehicle.

No. of Employees :	50 (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 :	Slow

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The company has incurred a heavy loss during FY 2014 which has resulted in to fully erosion of net worth. However, business is active. Payments terms are reported to be slow. The company can be considered for business dealings on a 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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) 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

Name :	Mr. Vinod Patil
Designation :	Account Department
Contact No.:	91-253-6645555 / 511
Date :	28.02.2015

LOCATIONS

Registered Office :	Plot No.2, Sr No. 295/1, Mumbai Agra Road, Village Pathardi, Nashik – 422011, Maharashtra, India
Tel. No.:	91-253-6645555 / 511
Fax No.:	Not Available
E-Mail :	accounts@indisch.in om@indisch.in
Location :	Owned
Locality :	Industrial

Branch Office :	Ambad, Maharashtra, India

DIRECTORS

As on 29.09.2014

Name :

Vasundhara Prakash Moharir

Designation :

Director

Address :

19, Sahajivan Colony, College Road, Nashik – 422005, Maharashtra, India

Date of Birth/Age :

11.04.1956

Date of Appointment :

25.11.2011

DIN No.:

00526756

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	U51502MH2006PTC164560	MOHARIR MOTORS AND SERVICES PRIVATE LIMITED	Director	14/09/2006	14/09/2006	-	Active	NO
2	U50200MH2010PTC203059	SPEEDMACHINES INDIA PRIVATE LIMITED	Director	12/05/2010	12/05/2010	-	Active	NO
3	U50102MH2011PTC224408	MOHARIR AUTO PRIVATE LIMITED	Director	25/11/2011	25/11/2011	-	Active	NO
4	U55100MH2013PTC246546	INDISCH HOSPITALITY PRIVATE LIMITED	Director	01/08/2013	01/08/2013	-	Active	NO

Name :

Mr. Om Prakash Moharir

Designation :

Director

Address :

19, Sahajivan Colony, College Road, Nashik – 422005, Maharashtra, India

Date of Birth/Age :

18.06.1983

Date of Appointment :

25.11.2011

DIN No.:

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	U51502MH2006PTC164560	MOHARIR MOTORS AND SERVICES PRIVATE LIMITED	Director	14/09/2006	14/09/2006	-	Active	NO
2	U50200MH2010PTC203059	SPEEDMACHINES INDIA PRIVATE LIMITED	Director	12/05/2010	12/05/2010	-	Active	NO
3	U50102MH2011PTC224408	MOHARIR AUTO PRIVATE LIMITED	Director	25/11/2011	25/11/2011	-	Active	NO
4	U55100MH2013PTC246546	INDISCH HOSPITALITY PRIVATE LIMITED	Director	01/08/2013	01/08/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vinod Patil
Designation :	Account Department

MAJOR SHAREHOLDERS

As on 29.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Vasundhara Prakash Moharir	5000	50.00
Om Prakash Moharir	5000	50.00
Total	10000	100.00

As on 29.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Dealer of Mercedes benz E class and Passenger vehicle.

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :
Products :	Furniture for Mercedes
Countries :	Germany

Terms :
Selling :	Cash and Cheque

Purchasing :	Cash and Cheque

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

No. of Employees :

50 (Approximately)

Bankers :

Banker Name	HDFC Bank Limited
Branch Address	Indira Nagar Branch, Nashik, Maharashtra, 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)	They not enjoying any credit facility they having current account.
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Union Bank of India, M.G. Road Branch, Nashik, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
Loans repayable on demand
Daimler Financial Services India Private Limited	98.922	31.869
Kotak Mahindra Bank Limited	13.546	0.000
Total	112.467	31.869


Auditors :
Name :	Palnitkar and Patwardhan Chartered Accountants
Address :	Shop No.2, Patwardhan Appartments, Patil Lane No.3, Off College Road, Nashik – 422005, Maharashtra, India
PAN No.:	AAEFP5584C

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	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	(2.286)	0.922	0.285
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.200	0.200
Total Shareholders’ Funds (1) + (2)	(2.186)	1.222	0.585

(3) Non-Current Liabilities
(a) long-term borrowings	12.357	2.546	1.521
(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)	12.357	2.546	1.521

(4) Current Liabilities
(a) Short term borrowings	112.468	31.869	41.808
(b) Trade payables	10.619	16.277	37.456
(c) Other current liabilities	0.952	5.696	0.000
(d) Short-term provisions	3.796	4.279	1.104
Total Current Liabilities (4)	127.835	58.121	80.368

TOTAL	138.006	61.889	82.474

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	25.418	11.469	10.386
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.313	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	2.020	0.570	0.570
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	27.438	12.352	10.956

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	57.874	31.725	1.093
(c) Trade receivables	30.692	0.000	55.279
(d) Cash and cash equivalents	13.963	12.495	13.775
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	8.039	5.317	1.371
Total Current Assets	110.568	49.537	71.518

TOTAL	138.006	61.889	82.474

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
SALES
Income		306.116	91.861
Other Income		3.969	0.034
TOTAL	440.944	310.085	91.895

EXPENSES	443.152	304.631	91.609

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(Including Depreciation and Financial Expenses)	5.454	1.136

FINANCIAL EXPENSES		2.342	0.621

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		3.112	0.515

DEPRECIATION/ AMORTISATION		2.191	0.230

PROFIT/ (LOSS) BEFORE TAX	(3.207)	0.921	0.285

TAX	0.000	0.285	0.000

PROFIT/ (LOSS) AFTER TAX	(3.207)	0.636	0.285

Expected Sales (2014-2015) : Rs.410.000 Million

The above information has been parted byMr. Vinod Patil (Accounts Department).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012

Net Profit Margin PAT / Total Income	(%)	(0.72)	0.20	0.31

Return on Total Assets (PBT/Total Assets}	(%)	0.35	1.50	(2.32)

Return on Investment (ROI) (PBT/Networth)		0.49	0.75	1.47

Debt Equity Ratio (Total Debts/Networth)		74.07	28.16	(57.10)

Current Ratio (Current Asset/Current Liability)		0.89	0.85	0.86

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	0.285	0.922	(2.286)
Net worth	0.385	1.022	(2.186)

long-term borrowings	1.521	2.546	12.357
Short term borrowings	41.808	31.869	112.468
Total borrowings	43.329	34.415	124.825
Debt/Equity ratio	112.543	33.674	(57.102)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	91.861	310.085	440.944
		237.559	42.201

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	91.861	310.085	440.944
Profit	0.285	0.636	(3.207)
	0.31%	0.21%	(0.73%)

LOCAL AGENCY FURTHER INFORMATION

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	Yes
12]	Profitability for last three years	Yes
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	Yes
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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10340383	26/03/2013 *	85,000,000.00	Daimler Financial Services India Private Limited	Unit 202, 2nd Floor, Campus 3B,RMZ Millennia, Business Park, No.143, Dr. M.G.R.Road,Perungudi, Chennai, Tamil Nadu - 600096, INDIA	B73215220

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Loans and advances from related parties
Mr. Prakash B. Moharir	5.400	0.785
Mr. Vasundhara P. Moharir	6.132	1.674
Mr. Om Prakash Moharir	0.825	0.087
Total	12.357	2.546

FIXED ASSETS

Land
Building
Plant and Equipment
Furniture and Fixtures
Vehicles
Office Equipment
Computer

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.61.83
UK Pound	1	Rs.95.13
Euro	1	Rs.69.24

INFORMATION DETAILS

Information Gathered by :	GAY

Analysis Done by :	DIV

Report Prepared by :	PNM

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	2
--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	YES
--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.

MIRA INFORM REPORT

0.31

Unit