MIRA INFORM REPORT

Report No. :	311091
Report Date :	11.03.2015

IDENTIFICATION DETAILS

Name :	KLASSIK ENTERPRISES PRIVATE LIMITED

Registered Office :	Sy No 10/1 and 11/1, Kalena Agrahara Village, Kammanahalli Main Road, Near Meenakshi Temple, Bangalore – 560076, Karnataka

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	27.08.2003

Com. Reg. No.:	08-032448

Capital Investment / Paid-up Capital :	Rs.19.500 Million

CIN No.: [Company Identification No.]	U07010KA2003PTC032448

TAN No.: [Tax Deduction & Collection Account No.]	BLRK04924D

PAN No.: [Permanent Account No.]	AACCK1800D

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged into construction activity.

No. of Employees :	80 (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 130000

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The management has failed to file its financial with government department for the year 2014. As per available financial of 2013, the rating reflect KEPL’s exposure to risks associated with the ongoing residential project marked by cyclicality in the Indian Real Estate industry and losses incurred by the company. However, trade relations are fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing 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 – 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

Rating Agency Name	CRISIL
Rating	Long term rating=B
Rating Explanation	Risk prone credit quality and carries very high credit risk.
Date	05.03.2015

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 (GENERAL DETAILS)

Name :	Mr. Sunderesh
Designation :	General Manager
Contact No.:	91-9880299866
Date :	10.03.2015

LOCATIONS

Registered Office :	Sy No 10/1 and 11/1, Kalena Agrahara Village, Kammanahalli Main Road, Near Meenakshi Temple, Bangalore – 560076, Karnataka, India
Tel. No.:	91-80-32711230
Mobile No.:	91-9880299866 (Mr. Sunderesh)
Fax No.:	Not Available
E-Mail :	sundaresha@klassikbuild.com klassikepl@rediffmail.com
Website :	www.klassikbuild.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Muniswamy Ramakrishna Reddy

Designation :

Director

Address :

# 667, Sri Kuteera, 22^nd Main, HSR layout, 2^nd Sector, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

28.09.1959

Date of Appointment :

27.08.2003

DIN No.:

01155234

Other Directorship:

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

U07010KA2003PTC032448

KLASSIK ENTERPRISES PRIVATE LIMITED

Director

27/08/2003

Active

U45205KA2014PTC076097

KLASSIK ECOCON PRIVATE LIMITED

Director

28/08/2014

Active

Name :

Mr. Prasad Krishnappa

Designation :

Director

Address :

No.182, Krusun, 9 Main, 7 Sector, H.S.R. Layout,, Bangalore – 560102, Karnataka, India

Date of Birth/Age :

18.09.1963

Date of Appointment :

27.08.2003

DIN No.:

02832374

Other Directorship:

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

U07010KA2003PTC032448

KLASSIK ENTERPRISES PRIVATE LIMITED

Director

27/08/2003

Active

U45205KA2014PTC076097

KLASSIK ECOCON PRIVATE LIMITED

Director

28/08/2014

Active

Name :

Mr. Srinivasa Kysambally Ram Reddy

Designation :

Director

Address :

No.286, 13 Cross, 17 Main,, 4 Sector, H.S.R. Layout,, Bangalore – 560102, Karnataka, India

Date of Birth/Age :

14.05.1963

Date of Appointment :

27.08.2003

DIN No.:

02953350

Other Directorship:

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

U07010KA2003PTC032448

KLASSIK ENTERPRISES PRIVATE LIMITED

Director

27/08/2003

Active

U45205KA2014PTC076097

KLASSIK ECOCON PRIVATE LIMITED

Director

12/11/2014

Active

KEY EXECUTIVES

Name :	Mr. Sunderesh
Designation :	General Manager

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Ramakrishna Reddy M	125000	25.25
Prasad K	73000	14.75
Srinivasa Reddy K R	84000	16.97
Bharathi C	40000	8.08
Kavitha Prasad	92000	18.59
Asha Krishnappa	81000	16.36

Total	495000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category

Percentage

Directors or relatives of Directors

100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into construction activity.

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :
Products :	Raw Material
Countries :	China European Countries

Terms :
Selling :	Cash, Credit

Purchasing :	Cash, Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Bhuwalka Steel Industries – Bangalore
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 :

Company Name :	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 :

80 (Approximately)

Bankers :

Banker Name :	Union Bank of India
Branch :	H. S. R. Layout, Bangalore, Karnataka, 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 :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

· Bank Of India, Bangalore Corporate Banking Branch, Skip House, No. 25/1, 2^nd Floor, Brigade Towers, Bangalore – 560025, Karnataka, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Million	31.03.2012 Rs. In Million
Long Term Borrowings
Secured loans from banks and financial institutions	7.436	0.856

Total	7.436	0.856


Banking Relations :	--

Auditors :
Name :	S S V M and Company Chartered Accountants
Address :	No.22, Sailagiri, Koramangala Inner Rign Road, Opposite Petrol Bunk, Ejipura Signal, Bangalore – 560047, Karnataka, India
Tel. No.:	91-80-65363870
Mobile No.:	91-9845444919
Fax No.:	91-80-41101134
E-Mail :	mallikca@gmail.com mallik@ssvm.net
Website :	www.ssvm.net
PAN No.:	ABJFS0602E

Membership :	--

Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

1000000	Equity Shares	Rs.100/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

495000	Equity Shares	Rs.100/- each	Rs.49.500 Million

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

200000	Equity Shares	Rs.100/- each	Rs.20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

195000	Equity Shares	Rs.100/- each	Rs.19.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	19.500	19.500	19.500
(b) Reserves & Surplus	25.438	33.398	25.134
(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)	44.938	52.898	44.634

(3) Non-Current Liabilities
(a) long-term borrowings	7.436	0.856	13.823
(b) Deferred tax liabilities (Net)	1.146	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)	8.582	0.856	13.823

(4) Current Liabilities
(a) Short term borrowings	26.749	13.823	0.000
(b) Trade payables	0.691	7.719	10.255
(c) Other current liabilities	11.973	14.881	91.440
(d) Short-term provisions	0.000	23.685	17.190
Total Current Liabilities (4)	39.413	60.108	118.885

TOTAL	92.933	113.862	177.342

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	11.403	36.159	17.877
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	6.574	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.500	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.833	0.734
(d) Long-term Loan and Advances	0.000	14.486	26.500
(e) Other Non-current assets	0.730	0.000	2.148
Total Non-Current Assets	19.207	51.478	47.259

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	57.055	0.000	65.467
(c) Trade receivables	0.000	8.578	13.183
(d) Cash and cash equivalents	9.920	30.752	50.020
(e) Short-term loans and advances	1.590	0.085	1.413
(f) Other current assets	5.161	22.969	0.000
Total Current Assets	73.726	62.384	130.083

TOTAL	92.933	113.862	177.342

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	NA	219.887	92.907
		Other Income	NA	0.030	0.000
		TOTAL	NA	219.917	92.907

Less	EXPENSES		NA	206.062	73.666

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		NA	13.855	19.241

Less	DEPRECIATION/ AMORTISATION		NA	1.489	1.600

	PROFIT/(LOSS) BEFORE TAX		(1.867)	12.366	17.641

Less	TAX		6.093	4.102	6.096

	PROFIT/(LOSS) AFTER TAX		(7.960)	8.264	11.545

	Earnings / (Loss) Per Share (Rs.)		(16.08)	--	--

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin PAT / Sales	(%)	NA	3.76	12.43

Return on Total Assets (PBT/Total Assets)	(%)	(2.17)	10.94	9.99

Return on Investment (ROI) (PBT/Networth)		(0.04)	0.23	0.40

Debt Equity Ratio (Total Debt /Networth)		0.76	0.28	0.31

Current Ratio (Current Asset/Current Liability)		1.87	1.04	1.09

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	19.500	19.500	19.500
Reserves & Surplus	25.134	33.398	25.438
Net worth	44.634	52.898	44.938

long-term borrowings	13.823	0.856	7.436
Short term borrowings	0.000	13.823	26.749
Total borrowings	13.823	14.679	34.185
Debt/Equity ratio	0.310	0.277	0.761

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 two 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	Yes
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	No
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	Yes

NOTE: Registered office address of the company has been shifted from #24, Royale Habitat, 2^nd Sector, HSR Layout, Bangalore – 560034, Karnataka, India to the present address w.e.f. 01.10.2009

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Million	31.03.2012 Rs. In Million
Short Term Borrowings
Loan from directors	23.549	9.473
Loans from others	3.200	4.350

Total	26.749	13.823

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10491316	29/08/2013	300,000,000.00	Union Bank of India Limited	Union Bank Of India Limited, No. 1003, 9^th Main, 7^th Sector, HSR Layout, Bangalore, Karnataka - 560102, India	C04059358
2	10051391	29/03/2007	4,000,000.00	Union Bank of India	HSR Layout Branch, Bangalore, Karnataka - 560034, India	A15396088

FIXED ASSETS:

· Land

· Plant and Machinery

· Vehicles

· Computers

· Furniture and Fittings

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 records 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 records 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.62.70
UK Pound	1	Rs.94.55
Euro	1	Rs.67.66

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	KAR

Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

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

MIRA INFORM REPORT

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