MIRA INFORM REPORT

Report No. :	314685
Report Date :	28.03.2015

IDENTIFICATION DETAILS

Name :	AMARBHAW POWER PRIVATE LIMITED
Registered Office :	'Divya', A-14, Kamla Nehru Nagar, Extension II, Jodhpur – 342 008, Rajasthan
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	31.05.2010
Com. Reg. No.:	17-031983
Capital Investment / Paid-up Capital :	Rs.0.100 million
CIN No.: [Company Identification No.]	U40106RJ2010PTC031983
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAICA5267E
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in providing service for 11KV, 33KV and 132KV Transmission Line work. They are also working as a buyer and supplier of transmission line materials.
No. of Employees :	Information declined by the Management.

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 5500
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. As per registrar of companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to financials are not available from any source except Form 20B. As per available financials of 2012-13, company’s borrowings have increased considerably. The company possesses moderate networth and weak liquidity position. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. 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 DECLINED BY

Name :	Mr. Piyush Mathur
Designation :	Director
Contact No.:	91-9928366000
Date :	26.03.2015

LOCATIONS

Registered Office :	‘Divya’, A-14, Kamla Nehru Nagar, Extension II, Jodhpur – 342 008, Rajasthan, India
Tel. No.:	Not Available
Mobile No.:	91-9928366000 (Mr. Piyush Bhawnesh Chandra Mathur)
Fax No.:	Not Available
E-Mail :	amarbhaw@gmail.com
Corporate Office :	Subhash Marg, Near Dalleh Khan Ki Chaki Main Pal Road, Jodhpur – 342 001, Rajasthan, India
Branch Office :	Located at: · Jodhpur · Navi Mumbai · Phalodi · New Delhi · Jaisalmer · Jaipur · Chennai · Bangalore

DIRECTORS

AS ON 30.09.2014

Name :

Ms. Kamla Devi Mathur

Designation :

Director

Address :

A-14, Kamla Nehru Nagar, Extension II, Jodhpur – 342 008, Rajasthan, India

Date of Birth/ Age :

15.07.1933

Date of Appointment :

31.05.2010

DIN No.:

03083509

Name :

Mr. Piyush Bhawnesh Chandra Mathur

Designation :

Director

Address :

A-14, Kamla Nehru Nagar, Extension II, Jodhpur – 342 008, Rajasthan, India

Date of Birth/ Age :

14.11.1985

Date of Appointment :

31.05.2010

DIN No.:

03083517

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	U40106RJ2010PTC031983	AMARBHAW POWER PRIVATE LIMITED	Director	31/05/2010	31/05/2010	-	Active	NO
2	U40104RJ2012PLC039962	AMARBHAW SOLAR LIMITED	Director	31/08/2012	31/08/2012	-	Active	NO
3	U14200RJ2013PTC044691	AMARBHAW MINES & MINERALS PRIVATE LIMITED	Director	26/12/2013	26/12/2013	-	Active	NO
4	U74120RJ2014PTC045654	SECURAGE SECURITY PRIVATE LIMITED	Director	29/05/2014	29/05/2014	-	Active	NO
5	U60200RJ2014PTC046789	VARSHA ROADLINES PRIVATE LIMITED	Director	27/12/2014	27/12/2014	-	Active	NO
6	AAA-0984	ATHARVA GLOBAL LLP	Designated Partner	01/07/2011	01/07/2011	-	Active	NO
7	AAD-1581	AMARBHAW JK HOSPITALITY LLP	Designated Partner	07/01/2015	07/01/2015	-	Active	NO

Name :

Ms. Nisha Mathur

Designation :

Director

Address :

A-14, Kamla Nehru Nagar, Extension II, Jodhpur – 342 008, Rajasthan, India

Date of Birth/ Age :

11.01.1957

Date of Appointment :

31.05.2010

DIN No.:

03083722

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	U40106RJ2010PTC031983	AMARBHAW POWER PRIVATE LIMITED	Director	31/05/2010	31/05/2010	-	Active	NO
2	U40104RJ2012PLC039962	AMARBHAW SOLAR LIMITED	Director	05/05/2013	05/05/2013	-	Active	NO

Name :

Mr. Bhawnesh Chandra Mathur

Designation :

Director

Address :

A-14, Kamla Nehru Nagar, Extension II, Jodhpur – 342 008, Rajasthan, India

Date of Birth/ Age :

03.04.1953

Date of Appointment :

13.05.2014

DIN No.:

06833239

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	U40106RJ2010PTC031983	AMARBHAW POWER PRIVATE LIMITED	Director	13/05/2014	13/05/2014	-	Active	NO
2	U74120RJ2014PTC045654	SECURAGE SECURITY PRIVATE LIMITED	Director	29/05/2014	29/05/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Piyush Mathur	4000	40.00
Kamla Devi Mathur	3000	30.00
Nisha Mathur	3000	30.00
Total	10000	100.00

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in providing service for 11KV, 33KV and 132KV Transmission Line work. They are also working as a buyer and supplier of transmission line materials.
Products :	· Power Transmission Equipments · Electric Power Tool
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	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

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

No. of Employees :

Information declined by the Management.

Bankers :

Banker Name	UCO Bank
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

ICICI Bank Limited

Banking Relations :	--
Auditors :
Name :	Sanwal and Company Chartered Accountants
Address :	Flat No.1, Sanwal Bhawan, Bagtawar Mal Ka Bhag, Jodhpur – 342 001, Rajasthan, India
Mobile No. :	91-9414131412
E-Mail :	sanwalandcompany@in.com
PAN No.:	ABQPS3110G
Memberships :	Not Available
Collaborators :	Not Available
Group Companies :	· Amarbhaw Solar Limited · Amarbhaw Mines and Minerals (Private) Limited · Amarbhaw Corporation · Securage Security Private Limited · J.K. Hotels · Atharva Global LLP · Amarbhaw Technologies · Amarbhaw Foundation

CAPITAL STRUCTURE

AS ON 30.09.2014

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

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	0.100	0.100	0.100
(b) Reserves & Surplus	1.839	1.366	0.156
(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)	1.939	1.466	0.256
(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	0.036
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000	0.036
(4) Current Liabilities
(a) Short term borrowings	20.700	9.251	0.000
(b) Trade payables	20.356	6.130	0.000
(c) Other current liabilities	0.522	0.694	0.000
(d) Short-term provisions	0.000	0.000	0.007
Total Current Liabilities (4)	41.578	16.075	0.007
TOTAL	43.517	17.541	0.299
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.249	0.407	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	0.000	0.000
Total Non-Current Assets	3.249	0.407	0.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.180	0.591	0.145
(c) Trade receivables	39.076	10.324	0.000
(d) Cash and cash equivalents	0.793	4.694	0.154
(e) Short-term loans and advances	0.200	1.138	0.000
(f) Other current assets	0.019	0.387	0.000
Total Current Assets	40.268	17.134	0.299
TOTAL	43.517	17.541	0.299

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Contract Receipt	NA	NA	1.924
		Work in Progress	NA	NA	0.145
		TOTAL	NA	NA	2.069
Less	EXPENSES
		Direct Expenses
		Cement	NA	NA	0.315
		Diesel Oil and Lub.	NA	NA	0.063
		Hire Charges	NA	NA	0.130
		Labour and Wages	NA	NA	0.500
		Material (Consumable)	NA	NA	0.122
		Repair	NA	NA	0.016
		Tools & Planks	NA	NA	0.077
		Wooden Material	NA	NA	0.256
		Indirect Expenses	NA	NA
		Audit Fees	NA	NA	0.007
		Conveyance Expenses	NA	NA	0.040
		Courier Expenses	NA	NA	0.002
		Director’s Remuneration	NA	NA	0.036
		Electricity Expenses	NA	NA	0.017
		Freight Expenses	NA	NA	0.026
		Hotel Expenses	NA	NA	0.010
		Legal Expenses	NA	NA	0.023
		Mess Food Expenses	NA	NA	0.042
		Printing & Stationery	NA	NA	0.008
		Rent	NA	NA	0.048
		Salary	NA	NA	0.154
		Telephone Expenses	NA	NA	0.010
		Traveling Expenses	NA	NA	0.011
		TOTAL	NA	NA	1.913
	NET PROFIT/ (LOSS)		0.922	1.210	0.156
	Earnings/ (Loss) Per Share (Rs.)		92.20	121.00	15.60

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt/Networth)	10.68	6.31	0.00
Current Ratio (Current Asset/Current Liability)	0.97	1.07	42.71

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Million)	(INR in Million)	(INR in Million)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	0.156	1.366	1.839
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.256	1.466	1.939
Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	0.000	9.251	20.700
Total borrowings	0.000	9.251	20.700
Debt/Equity ratio	0.000	6.310	10.676

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 one year	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	Yes
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	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	No

UNSECURED LOANS

PARTICULARS	31.03.2013 (Rs. In Million)	31.03.2012 (Rs. In Million)
SHORT TERM BORROWINGS
Loans and advances from Related parties From Entities in which Key Managerial Person have significant interest: Piyush Mathur, Kamla Devi Mathur, Nisha Mathur	7.087	3.656
Other Loans and Advances	13.613	5.595
Total	20.700	9.251

INDEX OF CHARGES

No Charges Exist for Company.

FIXED ASSETS:

· Computer

· Furniture

· Television

· Motor Car

· Mobile Phone

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.62.61
UK Pound	1	Rs.92.95
Euro	1	Rs.68.15

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUC
Report Prepared by :	SMN

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	3
--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	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		27

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.