MIRA INFORM REPORT

Report No. :	350378
Report Date :	18.11.2015

IDENTIFICATION DETAILS

Name :	BHOJWANI UNIVERSAL IMPEX PRIVATE LIMITED
Registered Office :	701, Simran Plaza, CTS E/829, JN of 3^rd and 4^th Road, Opposite Nagina's Rest, Khar (West), Mumbai – 400052, Maharashtra
Tel. No. :	91-22-40060300/ 01/ 02
Country :	India
Financials (as on) :	31.03.2014 (Proprietary Firm - Provisional Balance Sheet and Profit and Loss Account)
Date of Incorporation :	12.03.2014
Com. Reg. No.:	11-254199
Capital Investment / Paid-up Capital :	Rs. 10.000 Million Rs. 42.652 Million (Proprietary Firm)
CIN No.: [Company Identification No.]	U51101MH2014PTC254199
IEC No.:	0802002014
TAN No.: [Tax Deduction & Collection Account No.]	MUMB23727E
PAN No.: [Permanent Account No.]	AAFCB8701R
Legal Form :	Private Limited Liability Company
Line of Business :	Exporting and Importing of Chemicals, Bulk Drug and Agro Commodities.
No. of Employees :	9 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is successor of Bhojwani Universal Impex proprietary concern incorporated during the year 2002 and later on 12^th March, 2014 it got converted into Bhojwani Universal Impex Private Limited. It is having moderate track record. The latest financial are not available. Mr. Kiran Shingre (Accountant) has claimed that the company has achieved sales turnover of Rs.597.200 Million for the year 2015 which is not verified. However, trade relations are fair. Business is active as per the status shown in Registrar of companies. Payment terms are reported slow but correct. The subject 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Kiran Shingre
Designation :	Accountant
Contact No.:	91-22-40060302
Date :	18.11.2015

LOCATIONS

Registered Office/ Head Office :	701, Simran Plaza, CTS E/829, JN of 3^rd and 4^th Road, Opposite Nagina's Rest, Khar (West), Mumbai – 400052, Maharashtra, India
Tel. No. :	91-22-40060300/ 01/ 02
Fax No. :	91-22-40060305
E-Mail :	info@bhojwanis.net finance@bhojwanis.net buimpex@yahoo.com
Website :	www.bhojwanis.net
Area :	1200 Sq. ft.
Location :	Owned
Locality :	Commercial

DIRECTORS

As on 31.03.2015

Name :

Mr. Jagdish Tuljaram Bhojwani

Designation :

Director

Address :

301 Neptune I, Nargis Dutt Road Pali Hill, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

03.06.1968

Date of Appointment :

12.03.2014

DIN No. :

01311671

Name :

Mrs. Vinisha Jagdish Bhojwani

Designation :

Director

Address :

301, Neptune I, Pali Hill, Nargis Dutt Road, Bandra (West) Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

08.05.1972

Date of Appointment :

12.03.2014

DIN No. :

06565234

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	U17200MH2013PTC245116	Kool N Comfort Private Limited	Director	02/07/2013	02/07/2013	-	Active	NO
2	U51101MH2014PTC254199	Bhojwani Universal Impex Private Limited	Director	12/03/2014	12/03/2014	-	Active	NO

Name :

Mr. Tuljaram K. Bhojwani

Designation :

Additional director

Address :

301, Neptune I, Pali Hill, Nargis Dutt Road, Bandra (West) Mumbai – 400050, Maharashtra, India

Date of Appointment :

20.05.2014

DIN No. :

06884326

KEY EXECUTIVES

Name :	Mr. Kiran Shingre
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.02.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Jagdish Tuljaram Bhojwani	187500	75.00
Vinisha Jagdish Bhojwani	62500	25.00
Total	250000	100.00

As on 23.12.2014

Names of Allottees	No. of Shares
Jagdish Tuljaram Bhojwani	562500
Vinisha Jagdish Bhojwani	187500
Total	750000

BUSINESS DETAILS

Line of Business :	Exporting and Importing of Chemicals, Bulk Drug and Agro Commodities.
Products :	Chemicals Bulk Drug Agro Commodities
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	· Chemicals · Bulk Drugs · Agro Commodities
Countries :	· Nigeria · European Countries
Imports :
Products :	Chemicals
Countries :	· China · European Countries · United Kingdom
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

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

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	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

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

9 (Approximately)

Bankers :

Bank Name	Union Bank of India
Branch	Opera House, Dr. Bhadkamkar Marg, Mumbai, Maharashtra, India
Person Name (With Designation)	Not Available
Contact Number	91-22-23821232 (Ringing)
Name of Account Holder	31880101337630 (Not Confirmed)
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Union Bank of India, Opera House Branch, Tejura Chambers, 365/367,V.P. Road, Mumbai- 400004, Maharashtra, India

Auditors :
Name :	Jayesh Dabria and Company Chartered Accountants
Address :	Khar, Mumbai, Maharashtra, India
Auditors :
Name :	Dinesh Patel and Associates Chartered Accountants
Address :	Mumbai, Maharashtra, India
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

BHOJWANI UNIVERSAL IMPEX – PROPRIETARY FIRM

As on 31.03.2014 (Provisional)

Capital Investment :
Owned :	Rs. 42.652 Million
Borrowed :	--
Total :	Rs. 42.652 Million

FINANCIAL DATA

[all figures are in Rupees Million]

Particulars	31.03.2015 (Audited)
Sales Turnover (Approximately)	597.200

The above information has been parted by Mr. Kiran Shingre (Accountant)

ABRIDGED BALANCE SHEET

(BHOJWANI UNIVERSAL IMPEX – PROPRIETARY FIRM)

SOURCES OF FUNDS		31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Proprietors Capital		41.507	35.166
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		41.507	35.166
LOAN FUNDS
1] Secured Loans		67.350	61.994
2] Unsecured Loans		21.815	18.725
TOTAL BORROWING		89.165	80.719
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		130.672	115.885
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.421	1.461
Capital work-in-progress		0.000	0.000
INVESTMENT		40.288	36.770
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	15.162	8.500
	Sundry Debtors	144.922	129.031
	Cash & Bank Balances	11.950	0.129
	Other Current Assets	0.000	0.000
	Loans & Advances	4.071	1.755
Total Current Assets		176.105	139.415
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	90.811	60.797
	Other Current Liabilities	0.000	0.000
	Provisions	0.331	0.964
Total Current Liabilities		91.142	61.761
Net Current Assets		84.963	77.654
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		130.672	115.885

PROFIT & LOSS ACCOUNT

(BHOJWANI UNIVERSAL IMPEX – PROPRIETARY FIRM)

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Income	418.988	289.908
		Other Income	0.000	8.061
		TOTAL	418.988	297.969
Less	EXPENSES
		Cost of Goods Sold	375.672	267.767
		Clearing and Forwarding	1.434	1.102
		Freight Export	7.770	6.826
		Labour Charges	0.224	0.000
		Annual Maintenance Charges	0.014	0.000
		Bank Charges	2.482	1.994
		Bank Interest	4.909	5.581
		Car Expenses	0.336	0.340
		Diwali Expenses	0.053	0.108
		Electricity Charges	0.135	0.103
		Insurance Charges	0.322	0.104
		Medical Expenses	0.009	0.000
		Office Repairs and Maintenance	0.239	0.000
		Shipping Charges	0.426	0.000
		Transport Charges	1.784	0.882
		Other Expenses	13.901	7.486
		TOTAL	409.710	292.293
	PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION		9.278	5.676
Less/ Add	DEPRECIATION/ AMORTISATION		0.666	0.307
	NET PROFIT/ (LOSS)		8.612	5.369

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.06	1.80
Return on Total Assets (PBT/Total Assets}	(%)	4.74	3.81
Return on Investment (ROI) (PBT/Networth)		0.21	0.15
Debt Equity Ratio (Total Debt/Networth)		2.15	2.30
Current Ratio (Current Asset/Current Liability)		1.93	2.26

PROVISIONAL BALANCE SHEET

(BHOJWANI UNIVERSAL IMPEX – PROPRIETARY FIRM)

SOURCES OF FUNDS		31.03.2014
SHAREHOLDERS FUNDS
1] Proprietors Capital		42.652
2] Share Application Money		0.000
3] Reserves & Surplus		9.011
4] (Accumulated Losses)		0.000
NETWORTH		51.663
LOAN FUNDS
1] Secured Loans		70.594
2] Unsecured Loans		26.786
TOTAL BORROWING		97.380
DEFERRED TAX LIABILITIES		0.000
TOTAL		149.043
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.738
Capital work-in-progress		0.000
INVESTMENT		25.696
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	26.911
	Sundry Debtors	207.745
	Cash & Bank Balances	0.140
	Other Current Assets	1.350
	Loans & Advances	5.414
Total Current Assets		241.560
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	121.005
	Other Current Liabilities	1.944
	Provisions	0.002
Total Current Liabilities		122.951
Net Current Assets		118.609
MISCELLANEOUS EXPENSES		0.000
TOTAL		149.043

PROVISIONAL PROFIT & LOSS ACCOUNT

(BHOJWANI UNIVERSAL IMPEX – PROPRIETARY FIRM)

	PARTICULARS		31.03.2014
	SALES
		Income	614.623
		Other Income	2.250
		TOTAL	616.873
Less	EXPENSES
		Cost of Goods sold	563.849
		Clearing and Forwarding	1.555
		Freight Export	15.710
		Labour Charges	0.058
		Bank Charges	2.978
		Car Expenses	0.260
		Commission	0.800
		Insurance Charges	0.354
		New Company Formation Expenses	0.204
		Office Repairs and Maintenance	0.209
		Salary	1.628
		Telephone Charges	0.094
		Travelling Expenses	1.947
		Godown Rent	0.202
		Other Expenses	17.048
		TOTAL	606.896
	PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION		9.977
Less/ Add	DEPRECIATION/ AMORTISATION		0.967
	NET PROFIT/ (LOSS)		9.010

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Proprietors Capital	35.166	41.507
Reserves & Surplus	0.000	0.000
Net worth	35.166	41.507
Secured Loans	61.994	67.35
Unsecured Loans	18.725	21.815
Total borrowings	80.719	89.165
Debt/Equity ratio	2.295	2.148

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	289.908	418.988
		44.524

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	289.908	418.988
Profit	5.369	8.612
	1.85%	2.06%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of establishment	Yes
2]	Constitution of the entity Incorporation details	Yes
3]	Locality of the entity	Yes
4]	Premises details	Yes
5]	Buyer visit details	--
6]	Contact numbers	Yes
7]	Name of the person contacted	Yes
8]	Designation of contact person	Yes
9]	Promoter’s background	Yes
10]	Date of Birth of Proprietor / Partners / Directors	Yes
11]	Pan Card No. of Proprietor / Partners	No
12]	Voter Id Card No. of Proprietor / Partners	No
13]	Type of business	Yes
14]	Line of Business	Yes
15]	Export/import details (if applicable)	Yes
16]	No. of employees	Yes
17]	Details of sister concerns	No
18]	Major suppliers	No
19]	Major customers	No
20]	Banking Details	Yes
21]	Banking facility details	Yes
22]	Conduct of the banking account	--
23]	Financials, if provided	Yes
24]	Capital in the business	Yes
25]	Last accounts filed at ROC, if applicable	No
26]	Turnover of firm for last three years	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	No
29]	Profitability for last three years	Yes
30]	Major shareholders, if available	Yes
31]	External Agency Rating, if available	No
32]	Litigations that the firm/promoter involved in	--
33]	Market information	--
34]	Payments terms	Yes
35]	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10506870	29/01/2015 *	150,000,000.00	UNION BANK OF INDIA	Opera House Branch, Tejura Chambers,365/367,V.P. Road, Mumbai, Maharashtra - 400004, INDIA	C44245819

* Date of charge modification

FIXED ASSETS

• Computer
• Mobile phone
• Xerox machines
• Office equipment
• Television
• Air conditioner
• Car

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.65.98
UK Pound	1	Rs.100.10
Euro	1	Rs.70.34

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	AMR
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.