MIRA INFORM REPORT

Report No. :	318733
Report Date :	14.05.2015

IDENTIFICATION DETAILS

Name :	BLACKSTONE RUBBER INDUSTRIES PRIVATE LIMITED

Registered Office :	72, Laxman Colony, Shyam Nagar, Sodala, Jaipur-302019, Rajasthan

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	17.01.1983

Com. Reg. No.:	17-002630

Capital Investment / Paid-up Capital :	Rs.1.000 Million

CIN No.: [Company Identification No.]	U25191RJ1983PTC002630

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer, Exporter, Importer, and Suppliers of tyre Service and Maintenance Tools and Accessories.

No. of Employees :	70 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba(41)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 82000

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track. Trade relations seem to be fair. Business is Active. Payment terms are reported as slow but correct. In view of modest scale of operations, the concern can be considered for small to mediocre business dealings at usual 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

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 (General Information)

Name :	Mr. Basant Dhoot
Designation :	Director
Contact No.:	91-9414134638
Date :	05.05.2015

LOCATIONS

Registered Office :	72, Laxman Colony, Shyam Nagar, Sodala, Jaipur-302019, Rajasthan, India
Tel. No.:	Not Avaiable
Mobile No.:	91-9414134638(Mr. Basant Dhoot)
Fax No.:	Not Available
E-Mail :	Dhoot.blackstone@gmail.com
Website :
Location :	Owned

Administrative office :	Amrit Bhawan, 4^th B Road, Sardarpura, Jodhpur-342003, Rajasthan, India
Tel. No.:	91-291-2628100/2435428
Fax No.:	91-291-2435349
E-Mail :

DIRECTORS

As on 30.09.2014

Name :

Mr. Chhagan lal Dhoot

Designation :

Managing Director

Address :

277-280, Amrit Bhawan, 4^th Road, Sardarpura, Jodhpur-342003, Rajasthan, India

Date of Birth/Age :

13.08.1932

Date of Appointment :

17.01.1983

DIN No.:

01751117

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	U25191RJ1983PTC002630	BLACKSTONE RUBBER INDUSTRIES PRIVATE LIMITED	Managing director	17/01/1983	17/01/1983	-	Active	NO
2	U91990RJ2004PLC019686	JAISAL CLUB LIMITED	Director	30/09/2008	17/11/2007	-	Active	NO

Name :

Mr. Basant Kumar Dhoot

Designation :

Director

Address :

Amrit Bhawan, 277-280, Iv A-B Road, Sardarpura, Jodhpur-342003, Rajasthan, India

Date of Birth/Age :

18.03.1961

Date of Appointment :

29.09.2012

DIN No.:

01784424

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	U91990RJ2004PLC019686	JAISAL CLUB LIMITED	Director	09/09/2004	09/09/2004	-	Active	NO
2	U25191RJ1983PTC002630	BLACKSTONE RUBBER INDUSTRIES PRIVATE LIMITED	Director	29/09/2012	01/04/2012	-	Active	NO

Name :

Mr. Rakesh Dhoot

Designation :

Director

Address :

P-8, Ashok Nagar, C-Scheme, Jaipur-302001, Rajasthan, India

Date of Birth/Age :

26.11.1961

Date of Appointment :

28.01.2005

DIN No.:

01794729

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	U25191RJ1983PTC002630	BLACKSTONE RUBBER INDUSTRIES PRIVATE LIMITED	Director	28/01/2005	28/01/2005	-	Active	NO
2	U91990RJ2004PLC019686	JAISAL CLUB LIMITED	Director	30/09/2013	20/08/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Basant Kumar Dhoot
Designation :	Director
Address :	Amrit Bhawan, 277-280, Iv A-B Road, Sardarpura, Jodhpur-342003, Rajasthan, India
Date of Birth/Age :	18.03.1961
Date of Appointment :	29.09.2012

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Chaggan lal Dhoot	1501
Madan lal Dhoot	11
Laxmi Devi Dhoot	100
Dr. H.K. Dhoot	1900
Chaggan lal Dhoot HUF	1000
Rakesh Dhoot HUF	100
Bhanwari Devi Dhoot	200
Bashant k. Dhoot	750
Shilpa Dhoot	100
Ankita Dhoot	100
Ankur Dhoot	100
Shakuntala Dhoot	100
Kamla Dhoot	2848
Rekha Dhoot	890
Rochita Dhoot	100
Dr. H.K. Dhoot	100
Uma Bhootra	100
Total	10000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00

Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter, Importer, and Suppliers of tyre Service and Maintenance Tools and Accessories.

Products :	Patches- Blas Tyres Radial tyres OTR Tyres Tyre Retreading Service Retreading Material- Procured Bonding Gum · Tread Rubber · Curing Bags · Vulgum Adhesive Solvents- Vulcanizing Cement Munting Paste New Tyres Tubes and Flaps Tools and Kits

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Tyres Tools Accessories
Countries :	Philippines

Imports :
Products :	Raw Material
Countries :	Korea

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Total Outstanding Dues to Suppliers of Good

Actual Graphicd
Adv. To. D.K. Agarwal
Adv. To Narendra Shankla
Adv. To Sanu Pratap
Amount Received From Customers
Amrit Lal Khatri
Amsky & Co.
Anant Agencies
Apollo Tyre Limited, Jodhpur
Associated Stone India K Ltd

Customers :

A.C.C Ltd. Kymore Cement Works
Adarsh Tyre and Tread Pvt. Ltd
Adhunik Khannan Va Parivahan Theka Sahakari Samiti
Ambuja Cement Ltd
Arihant Rubber Suppliers
Associated Soapstone Dist. Co. Pvt. Ltd Udaipur
Associated Soapstone Dist. Co. Pvt. Ltd Panandhro
Associated Stone Industries K Ltd
Atul Sharma
Bhowary Tyre Industries
Binani Cement
Birla Corporation Ltd
B.N Mines and Mineral

No. of Employees :

70 (Approximately)

Bankers :

Banker Name	Canara Bank
Branch Address	Abhay Chambers, Jalori Gate, Jodhpur-342001, Rajasthan, 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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Loans repayable on Demand
From Bank
Canara Bank (Secured by Equitable Mortgage of Factory Land Building & Plant and Machinery and Hypothecation of Stock, Such as raw material, stock in progress and finished goods and book debts and further personally gurantee by deiectors)	32.930	28.209
From Other Parties
Other Loans & advances
H.D.F.C	0.532	0.854
(Secured By Hypothecation of Veh.Rj-19 GD 6795)
Canara Bank	0.448	0.000
(Secured By Hypothecation of Veh.Rj-19 GD 2871)
Total	33.910	29.063

Auditors :
Name :	Soni and Company Chartered Accountant
Address :	89/a, Matra- Kripa, Laxmi Nagar, Paota C Road, jodhpur-342006, Rajasthan, India
Mobile No.:	91-9829028260 (CA K.L Soni) 91-9829417789 (CA Ajay Soni)
E-Mail :	klsonidco@gmail.com
PAN No.:	AADFS4775P

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs.100/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs.100/- each	Rs. 1.000 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	1.000	1.000	1.000
(b) Reserves & Surplus	27.89	25.663	22.931
(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)	28.890	26.663	23.931

(3) Non-Current Liabilities
(a) long-term borrowings	12.564	5.842	1.945
(b) Deferred tax liabilities (Net)	0.087	0.128	0.073
(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)	12.651	5.970	2.018

(4) Current Liabilities
(a) Short term borrowings	33.911	29.063	24.127
(b) Trade payables	22.699	16.691	6.077
(c) Other current liabilities	0.584	0.994	0.585
(d) Short-term provisions	0.971	0.83	1.059
Total Current Liabilities (4)	58.165	47.578	31.848

TOTAL	99.706	80.211	57.797

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.600	5.817	4.188
(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	0.001	0.001	0.001
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.173	0.149	0.125
(e) Other Non-current assets	0.169	0.132	0.277
Total Non-Current Assets	5.943	6.099	4.591

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	23.525	24.003	17.451
(c) Trade receivables	54.132	38.845	22.539
(d) Cash and cash equivalents	1.438	2.973	2.161
(e) Short-term loans and advances	14.417	8.124	10.166
(f) Other current assets	0.251	0.167	0.889
Total Current Assets	93.763	74.112	53.206

TOTAL	99.706	80.211	57.797

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
		TOTAL SALES

		TOTAL EXPENSES

Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

Less	FINANCIAL EXPENSES
			NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

Less/ Add	DEPRECIATION/ AMORTISATION

	PROFIT/(LOSS) BEFORE TAX

Less	TAX

	PROFIT/(LOSS) AFTER TAX		2.227	2.732	3.492

	IMPORTS
		Raw Materials	NA	1.472	NA

	Earnings / (Loss) Per Share (Rs.)		222.70	273.20	349.20

Expected Sales (2014-15): Rs. 190.000 Million

The above information has been parted by Mr. Basant Dhoot (Director)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	0.00	0.00	0.00

Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00

Debt Equity Ratio (Total Debt /Networth)		1.09	1.31	1.61

Current Ratio (Current Asset/Current Liability)		1.67	1.56	1.61

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	1.000	1.000	1.000
Reserves & Surplus	22.931	25.663	27.890
Net worth	23.931	26.663	28.890

long-term borrowings	1.945	5.842	12.564
Short term borrowings	24.127	29.063	33.911
Total borrowings	26.072	34.905	46.475
Debt/Equity ratio	1.089	1.309	1.609

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	No
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
18]	Major customers	Yes
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

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loan And Advance From Related Parties( Share Holder)
Ankita Dhoot	0.038	0.034
Ankur Dhoot	0.333	0.301
Basant Dhoot	2.976	2.621
Basant Dhoot HUF	2.014	0.000
Chaggan lal Dhoot	0.005	0.004
C.M Dhoot HUF	0.004	0.004
H.K Dhoot	0.415	0.375
Kamla Dhoot	3.195	0.528
Laxmi Devi Dhoot	0.389	0.351
Shakuntala Dhoot	2.308	0.824
Uma Bhootra	0.887	0.800
Total	12.564	5.842

INDEX OF CHARGES

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

10532087

14/11/2014

800,000.00

Canara Bank

Jalori Gate, Jodhpur, Rajasthan - 342001, INDIA

C34134692

10101781

21/03/2013 *

40,000,000.00

Canara Bank

Abhay Chambers, Jalori Gate, Jodhpur, Rajasthan -
342001, INDIA

B73298499

* Date of charge modification

FIXED ASSETS

Land
Building
Plant & Machinery
Boiler
Electric Machinery
Electric Fitting
Testing Equipment
Water Level Controller
Packing Machinery
Fire Equipment
Furniture & Fixure

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 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.63.83
UK Pound	1	Rs.100.64
Euro	1	Rs.72.87

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	SUB

Report Prepared by :	PJA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		41

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

Unit