MIRA INFORM REPORT

Report No. :	312789
Report Date :	16.03.2015

IDENTIFICATION DETAILS

Name :	PARAMITE RETAILER PRIVATE LIMITED
Registered Office :	M.M.S. Chambers, 1st Floor, Chamber No. G/1, 4 A, Council House Street, Kolkata - 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.10.1995
Com. Reg. No.:	21-074881
Capital Investment / Paid-up Capital :	Rs.1.994 Million
CIN No.: [Company Identification No.]	U51109WB1995PTC074881
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALP09003B
PAN No.: [Permanent Account No.]	AACCP9666Q
Legal Form :	Private Limited Liability Company
Line of Business :	Buyers, sellers, trader, merchants, brokers of all kind of rubberized cloth, food grain, dairy products, soap detergents, biscuits, Surgical diagnostic medical pulses, leather and finished leathers.
No. of Employees :	Information denied by management

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 :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has incurred a loss during FY 2014 however, net worth of the company is satisfactory. Mrs. Ritu Jajodia, Consultant denied to part any information about the company. As per registrar of companies the status of the company is shown as active. Payment terms are unknown. The company can be considered for business dealings with some 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	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) 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 DENIED BY

Name :	Mrs. Ritu Jajodia
Designation :	Consultant
Contact No.:	91-986283283
Date :	13.03.2015

LOCATIONS

Registered Office :	M.M.S. Chambers, 1st Floor, Chamber No. G/1, 4 A, Council House Street, Kolkata - 700001, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91-986283283 (Mrs. Ritu Jajodia)
Fax No.:	Not Available
E-Mail :	jajodiaritu@yahoo.co.in r_kankaria@sancharnet.in

DIRECTORS

As on 29.09.2014

Name :

Mrs. Kumud Devi Sipani

Designation :

Director

Address :

No.831, 13th Main, 7th Cross, III Block, Koramangala, Bangalore - 560034, Karnataka, India

Date of Birth/Age :

29.03.1958

Date of Appointment :

14.10.2006

PAN No.:

ABKPS6159B

DIN No.:

00108697

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	U25200KA1971PLC002070	KLENE PAKS LIMITED	Director	29/09/1997	29/09/1997	-	Active	NO
2	U65993KA1982PTC004624	S L INVESTORS AND TRADERS PRIVATE LIMITED	Managing director	08/01/2004	08/01/2004	-	Active	NO
3	U51109WB1995PTC074881	PARAMITE RETAILER PRIVATE LIMITED	Director	14/10/2006	14/10/2006	-	Active	NO
4	U55101WB2007PTC118188	AAKANSHA VYAPAAR PRIVATE LIMITED	Director	20/05/2010	20/05/2010	-	Active	NO

Name :

Mr. Vimalchand Sipani

Designation :

Director

Address :

No 831 13th Main 8th Block, Koramangala, Bangalore - 560034, Karnataka, India

Date of Birth/Age :

21.09.1957

Date of Appointment :

14.10.2006

PAN No.:

AHCPS1105R

DIN No.:

00900034

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	U25200KA1971PLC002070	KLENE PAKS LIMITED	Managing director	20/04/1983	20/04/1983	-	Active	NO
2	U51109WB1995PTC074881	PARAMITE RETAILER PRIVATE LIMITED	Director	14/10/2006	14/10/2006	-	Active	NO
3	U70102WB2005PTC104095	SIPANI DEVELOPERS PRIVATE LIMITED	Director	31/08/2010	15/06/2009	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Ritu Jajodia
Designation :	Consultant

MAJOR SHAREHOLDERS

As on 29.09.2014

Names of Shareholders	No. of Shares	% of Holding
Sunil Sipani	52200	26.18
Punit Sipani	25400	12.74
Vimalchand Sipani	47800	23.97
Jethidevi Jain	21200	10.63
Sohan Sipani HUF	11000	5.52
Kumud Devi Sipani	41800	20.96
Total	199400	100.00

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Buyers, sellers, trader, merchants, brokers of all kind of rubberized cloth, food grain, dairy products, soap detergents, biscuits, Surgical diagnostic medical pulses, leather and finished leathers.
Products :	Rubberized Cloth Food Grain Dairy Products Soap Detergents Biscuits Surgical Diagnostic Medical Pulses Leather Finished Leathers
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	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
Experience :	Not Divulged
Maximum Limit Dealt :	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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

No. of Employees :

Information denied by 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 :	R. K. Kankaria and Company Chartered Accountants
Address :	33 Brabourne Road, 3rd Floor, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22425812
E-Mail :	rajesh.kankaria@gmail.com
PAN No.:	AADFR8367E
Memberships :	--
Collaborators :	--
Related Parties :	S l Investors and Traders Private Limited Excellent Finetrade Private Limited

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
199400	Equity Shares	Rs.10/- each	Rs.1.994 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	1.994	1.994	1.994
(b) Reserves & Surplus	52.138	52.499	52.436
(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)	54.132	54.493	54.430
(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	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.033	0.074	0.033
(d) Short-term provisions	1.530	1.530	1.494
Total Current Liabilities (4)	1.563	1.604	1.527
TOTAL	55.695	56.097	55.957
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.318	0.422	0.560
(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	14.464	14.464	14.464
(c) Deferred tax assets (net)	0.077	0.074	0.066
(d) Long-term Loan and Advances	40.150	40.449	40.288
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	55.009	55.409	55.378
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.317	0.304	0.180
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.369	0.384	0.399
Total Current Assets	0.686	0.688	0.579
TOTAL	55.695	56.097	55.957

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Interest on loan received	0.542	1.005	1.278
		Other Income	0.000	0.000	0.030
		TOTAL	0.542	1.005	1.308
Less	EXPENSES		0.905	0.915	0.805
	PROFIT/(LOSS) BEFORE TAX		(0.363)	0.090	0.503
Less	TAX		(0.002)	0.028	0.156
	PROFIT/(LOSS) AFTER TAX		(0.361)	0.062	0.347
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		4.691	4.628	4.282
Less	PROVISION RELATING TO LAST YEAR (INXOME TAX)		0.000	0.000	0.001
	BALANCE CARRIED TO THE B/S		4.330	4.691	4.628
	Earnings / (Loss) Per Share (Rs.)		(1.81)	0.31	1.74

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(66.61)	6.17	27.15
Return on Total Assets (PBT/Total Assets}	(%)	(0.88)	0.22	1.21
Return on Investment (ROI) (PBT/Networth)		(0.01)	0.00	0.01
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		0.44	0.43	0.38

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	1.994	1.994	1.994
Reserves & Surplus	52.436	52.499	52.138
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	54.430	54.493	54.132
Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	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
Interest on loan received	1.278	1.005	0.542
		(21.362)	(46.070)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Interest on loan received	1.278	1.005	0.542
Profit	0.347	0.062	-0.361
	27.15%	6.17%	-66.61%

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	No
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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	No
24]	Banking facility details	No
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NO CHARGES EXIST FOR COMPANY 

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.62.57
UK Pound	1	Rs.93.57
Euro	1	Rs.65.95

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

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