MIRA INFORM REPORT

Report No. :	321668
Report Date :	12.05.2015

IDENTIFICATION DETAILS

Name :	IRENES COFFEE COMPANY PRIVATE LIMITED (w.e.f.09.12.2010)
Formerly Known as :	DEVAANSH H S FOODS PRIVATE LIMITED
Registered Office :	M-67, 2^nd Floor, Greater Kailash, Part II, New Delhi – 110048
Tel. No.:	91-11-29216883
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.09.2002
Com. Reg. No.:	55-116912
Capital Investment / Paid-up Capital :	Rs. 0.300 Million
CIN No.: [Company Identification No.]	U15316DL2002PTC116912
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELD10488C
PAN No.: [Permanent Account No.]	AABCD8495L
Legal Form :	Private Limited Liability Company
Line of Business :	Trading and Importing of Coffee Machines, Automatic Coffee Machines, Italian Coffee Machines etc.
No. of Employees :	40 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (15)

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 a moderate track record. Net worth of the company has been eroded due to continuous accumulated loss incurred from its operations. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow. 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 – 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 PARTED BY

Name :	Mr. Prashant
Designation :	Area Sales Manager
Contact No.:	91-8826300226
Date :	08.05.2015

LOCATIONS

Registered Office :	M-67, 2^nd Floor, Greater Kailash, Part II, New Delhi – 110048, India
Tel. No. :	91-11-29216883/ 40522521
Mobile No. :	91-8826300226 (Mr. Prashant)
Fax No. :	Not Available
E-Mail :	info@kkaushal.in prashant.yeiswal@irenes.co.in anup@kothiwal.com
Website :	http://www.irenescoffee.com http://www.irenesgroup.com
Location :	Owned
Head Office :	J-47, Paryavaran Complex, IGNOU Road, Neb Sarai, New Delhi-110068, India
E-Mail :	info@irenes.co.in service@irenes.co.in placeorder@irenes.co.in
Corporate Office :	Flat No.3, Building-B-3, Ground Floor, Amba Vatika Co-Operative Society, NIBM Road, Kondhwa, Pune-411048, Maharashtra, India
Tel. No. :	91-20-26832022

DIRECTORS

As on 30.09.2014

Name :

Mr. Anup Kothiwal

Designation :

Director

Address :

7/94-A, Arpita, Tilak Nagar, Kanpur-208002, Uttar Pradesh, India

Date of Birth/Age :

23.09.1981

Date of Appointment :

21.05.2007

DIN No. :

00355615

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	U51109UP1984PLC006922	KOTHIWAL TEXTILES LIMITED	Director	05-07-2003	05-07-2003	-	Active	NO
2	U34300DL2003PTC121154	JAI INFRA REALITY PRIVATE LIMITED	Director	06-07-2006	06-07-2006	-	Active	NO
3	U51109UP1979PTC004714	KOTHIWAL COMPANY PRIVATE LIMITED	Director	01-02-2007	01-02-2007	-	Active	NO
4	U74999UP2007PTC033093	CHETNA APPARELS PRIVATE LIMITED	Director	31-03-2007	31-03-2007	01-02-2011	Active	NO
5	U15316DL2002PTC116912	IRENES COFFEE COMPANY PRIVATE LIMITED	Director	21-05-2007	21-05-2007	-	Active	NO
6	U18109UP2008PTC035511	CHETNA CLOTHING PRIVATE LIMITED	Director	20-06-2008	20-06-2008	-	Strike off	NO
7	U36900DL1988PTC032354	ACE FURNITURE SOLUTIONS PRIVATE LIMITED	Director	12-12-2011	09-03-2009	07-06-2013	Active	NO
8	U65993UP1995PLC017591	KOTHIWAL FINANCE AND INVESTMENT LIMITED	Director	12-10-2010	12-10-2010	-	Active	NO
9	U74140DL2012PTC232107	NAPIER REID INDIA PRIVATE LIMITED	Director	28-02-2012	28-02-2012	18-06-2012	Active	NO

Name :

Mr. Bhanwar Lal Kothiwal

Designation :

Director

Address :

7/94-A, Arpita, Tilak Nagar, Kanpur-208002, Uttar Pradesh, India

Date of Birth/Age :

20.08.1945

Date of Appointment :

21.05.2007

DIN No. :

00393500

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	U51109UP1979PTC004714	KOTHIWAL COMPANY PRIVATE LIMITED	Managing director	10-01-1979	10-01-1979	-	Active	NO
2	U51101UP1975PTC004199	JAIKOTHIWAL ESTATES PRIVATE LIMITED	Director	08-09-1983		-	Active	NO
3	U51109UP1984PLC006922	KOTHIWAL TEXTILES LIMITED	Managing director	22-12-1984	22-12-1984	-	Active	NO
4	U18101UP1994PTC016374	JAGMINI MICRO KNIT PRIVATE LIMITED	Director	16-07-1994	16-07-1994	-	Active	NO
5	U65993UP1995PLC017591	KOTHIWAL FINANCE AND INVESTMENT LIMITED	Director	20-02-1995	20-02-1995	-	Active	NO
6	U34300DL2003PTC121154	JAI INFRA REALITY PRIVATE LIMITED	Director	06-07-2006	06-07-2006	-	Active	NO
7	U74999UP2007PTC033093	CHETNA APPARELS PRIVATE LIMITED	Director	31-03-2007	31-03-2007	23-02-2011	Active	NO
8	U15316DL2002PTC116912	IRENES COFFEE COMPANY PRIVATE LIMITED	Director	21-05-2007	21-05-2007	-	Active	NO
9	U74999UP2008PTC035481	CHETANA BUILDWELL PRIVATE LIMITED	Director	18-06-2008	18-06-2008	-	Active	NO
10	U18109UP2008PTC035511	CHETNA CLOTHING PRIVATE LIMITED	Director	20-06-2008	20-06-2008	-	Strike off	NO
11	U36900DL1988PTC032354	ACE FURNITURE SOLUTIONS PRIVATE LIMITED	Director	09-03-2009	09-03-2009	23-08-2010	Active	NO

Name :

Mrs. Rikky Singh Kothiwal

Designation :

Director

Address :

M-67, 2^nd Floor, Greater Kailash, Part II, New Delhi – 110048, India

Date of Birth/Age :

24.11.1981

Date of Appointment :

27.11.2013

DIN No. :

05123485

KEY EXECUTIVES

Name :	Mr. Prashant
Designation :	Area Sales Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Bhanwar Lal Kothiwal	15000	50.00
Anup Kothiwal	15000	50.00
Total	30000	100.00

As on 30.09.2014

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 :	Trading and Importing of Coffee Machines, Automatic Coffee Machines, Italian Coffee Machines etc.
Brand Names :	---
Agencies Held :	---
Exports :
Products :	---
Countries :	Not Divulged
Imports :
Products :	Machines
Countries :	Italy
Terms :
Selling :	Cash
Purchasing :	Cash

GENERAL INFORMATION

Suppliers :

Company Name	Saeco Coffee Company
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

Customers :

Retailers and Distributors

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

No. of Employees :

40 (Approximately)

Bankers :

Bank Name:	HDFC Bank Limited
Branch:	House Senapati Bapat Marg, Lower Parel West, Mumbai-400013, Maharashtra, INDIA
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks: Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Loans from Bank and Financial Institutions	1.723	1.107
Shown in current maturities of Long-term debt	(0.524)	(0.294)
Total	1.199	0.813

Banking Relations :	--
Auditors :
Name :	K. Kaushal and Company Chartered Accountants
Address :	40, LGF, National Park, Lajpat Nagar, Part-IV, New Delhi – 110024, India
Tel. No. :	91-11-40522521/26468219
E-Mail :	info@kkaushal.in
Income-tax PAN of auditor or auditor's firm :	AAGPK1823M
Memberships :	---
Collaborators :	---
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 31.03.2014

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
30000	Equity Shares	Rs.10/- each	Rs. 0.300 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	0.300	0.300	0.300
(b) Reserves & Surplus	(3.789)	(4.788)	(4.867)
(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)	(3.489)	(4.488)	(4.567)
(3) Non-Current Liabilities
(a) Long-term Borrowings	30.620	30.867	23.057
(b) Deferred Tax Liabilities (Net)	0.160	0.189	0.138
(c) Other Long Term Liabilities	0.421	0.699	0.000
(d) Long-Term Provisions	0.000	0.000	0.000
Total Non-Current Liabilities (3)	31.201	31.755	23.195
(4) Current Liabilities
(a) Short term Borrowings	0.000	0.000	0.000
(b) Trade Payables	1.472	8.973	6.746
(c) Other Current Liabilities	2.148	1.628	1.971
(d) Short-Term Provisions	0.000	0.000	0.000
Total Current Liabilities (4)	3.620	10.601	8.717
TOTAL	31.332	37.868	27.345
II. ASSETS
(1) Non-Current Assets
(a) Fixed Assets	0.000	0.000	0.000
(i) Tangible Assets	15.594	17.113	14.609
(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	15.594	17.113	14.609
(2) Current Assets
(a) Current Investments	0.000	0.000	0.000
(b) Inventories	7.241	9.099	9.473
(c) Trade Receivables	5.542	10.761	2.731
(d) Cash and Cash Equivalents	2.176	0.603	0.406
(e) Short-Term Loans and Advances	0.265	0.130	0.092
(f) Other Current Assets	0.514	0.162	0.034
Total Current Assets	15.738	20.755	12.736
TOTAL	31.332	37.868	27.345

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	49.007	33.917	7.345
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX		1.064	0.076	4.521
	Earnings / (Loss) Per Share (Rs.)		35.47	2.53	150.7

Expected Sales (2014-2015): Rs. 50.000 Million

The above information has been parted by Mr. Prashant (Area Sales Manager)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	2.17	0.22	61.55
Return on Total Assets (PBT/Total Assets}	(%)	156.41	89.57	26.86
Return on Investment (ROI) (PBT/Networth)		(14.05)	(7.56)	(1.61)
Debt Equity Ratio (Total Debt/Networth)		(8.78)	(6.88)	(5.050
Current Ratio (Current Asset/Current Liability)		4.35	1.96	1.46

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	0.300	0.300	0.300
Reserves & Surplus	(4.867)	(4.788)	(3.789)
Net worth	(4.567)	(4.488)	(3.489)
long-term borrowings	23.057	30.867	30.620
Short term borrowings	0.000	0.000	0.000
Total borrowings	23.057	30.867	30.620
Debt/Equity ratio	(5.049)	(6.878)	(8.776)

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)
Sales	7.345	33.917	49.007
		361.770	44.491

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	7.345	33.917	49.007
Profit	4.521	0.076	1.064
	61.55%	0.22%	2.17%

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	Yes
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	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	10523920	23/09/2014	4,000,000.00	HDFC BANK LIMITED	HDFC BANK, HOUSE SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI-400013, MAHARASHTRA, INDIA	C25254814

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Loan and Advance From Related Parties	7.517	8.435
Other Loan and Advance	21.904	21.619
Total	29.421	30.054

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from K-88 Hauz Khas Enclave, New Delhi-110016, India to the present address w.e.f 21.05.2007.

OPERATIONS

This is year the company has achieved revenue from operations worth 0.490 Million as compared to Previous Year sales 0.339 Million. During the current financial year, the Company has earned net profit of ₹ 0.009 Million, although it is marginal but keeping in view of losses in earlier year, this is a good year. We are hopeful that in next year performance of the company will be better than current year and further they are hopeful in next year, the company will make profits.

FIXED ASSETS

· Car

· Electric Installation

· Furniture and Fittings

· 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. 63.85
UK Pound	1	Rs. 98.57
Euro	1	Rs. 71.51

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	SAN
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		15

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.