MIRA INFORM REPORT

Report No. :	349116
Report Date :	27.11.2015

IDENTIFICATION DETAILS

Name :	BHARTI HYGIENECARE PRIVATE LIMITED

Registered Office :	Near Jaswant Mall, Shop No. G-25, Kamala Towers, Indora Chowk, Nagpur-440017, Maharashtra
Tel. No.:	91-712-2630765

Country :	India

Financials (as on) :	Not Available

Date of Incorporation :	11.03.2014

Com. Reg. No.:	11-254101

Capital Investment / Paid-up Capital :	Rs. 2.500 Million

CIN No.: [Company Identification No.]	U33111MH2014PTC254101

IEC No.:	Not Divulged

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 of Sanitary Napkins, Baby Diapering, Hygiene Products.

No. of Employees :	19 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

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 :	Unknown

Litigation :	Clear

Comments :	Subject is a newly established company incorporated on March 11, 2014. It is engaged in the business of manufacturing of Sanitary Napkins, Baby Diapering and Hygiene Products. Mr. Amit Vaidya, Director has informed that the company has achieved revenue of Rs.45.000 Million in the FY-15, which could not verified from the audited financial documents. Even after providing the authorisation letter of Henkel Adhesives Technologies, Director has denied to provide any financial information on the company. Payments are unknown. In view of unavailability of requisite information, the company can be considered for business dealings on fully safe and secure 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.

HENKEL RATING

HENKEL’s Rating :

007* (Small unrated customers)

Credit Rating	Henkel Rating (Customer Risk Assesment- CRA)
Mira Inform	Risk Category	Credit Limit	Description
Aaa	100	Inter Company, credit limit not required	Very low risk (blue ships)
Aa	200, 201	(120% of Gross Annualised Sales/365)*Credit Term.	Low risk
A	300, 301	(100% of Gross Annualised Sales/365)*Credit Term.	Moderate risk
Ba	350	(90% of Gross Annualised Sales/365)*Credit Term.	Significant risk
B	400	(80% of Gross Annualised Sales/365)*Credit Term.	High risk
B	450	(80% of Gross Annualised Sales/365)*Credit Term.	Very high risk
Ca or C	500*	NIL/ Legal/ Bad/No Transaction	Doubtful accounts
	007*	NIL	Small unrated customers
	009*	NIL	Inactive customers
	999*	Initially First Invoice vales, CRA will be done and based on report the CL would get revised.	New customer

ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Amit Ramchandra Vaidya
Designation :	Director
Contact No.:	91-9850343665
Date :	26.11.2015

LOCATIONS

Registered Office :	Near Jaswant Mall, Shop No. G-25, Kamala Towers, Indora Chowk, Nagpur-440017, Maharashtra, India
Tel. No.:	91-712-2630765
Mobile No.:	91-9850343665/9881743665 (Mr. Amit Vaidya)
Fax No.:	Not Available
E-Mail :	arv1981@gmail.com
Area :	500 sq. ft.
Location :	Owned
Locality :	Commercial

Factory :	Plot No.: D28, MIDC, Industrial Area, Butibori, Nagpur-441122, Maharashtra, India
Area :	9000 sq. ft.
Location :	Rented

DIRECTORS

Name :

Mrs. Bharti Amit Vaidya

Designation :

Director

Address :

Near Jaswant Mall Shop No. G-25, Kamala Towers, Indora Chowk, Dr. Ambedkar Marg S.O., Nagpur-440017, Maharashtra, India

Date of Birth/Age :

12.11.1979

Date of Appointment :

11.03.2014

DIN No.:

06790587

Name :

Mr. Amol Manohar Mulkar

Designation :

Director

Address :

Beside Jaswant Mall Shop No. G-25, Kamala Tower, Indora Chowk Dr. Ambedkar Marg S.O., Nagpur-440017, Maharashtra, India

Date of Birth/Age :

12.09.1979

Date of Appointment :

11.03.2014

DIN No.:

06790580

Name :

Mr. Amit Ramchandra Vaidya

Designation :

Director

Address :

Shop No. G-25, Kamla Tower, Nagpur-440004, Maharashtra, India

Date of Birth/Age :

09.01.1981

Date of Appointment :

11.03.2014

DIN No.:

05149583

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	U51900MH2012PTC227062	WHITE CLIFF MARKETING PRIVATE LIMITED	Director	17/02/2012	17/02/2012	-	Active	NO
2	U33111MH2014PTC254101	BHARTI HYGIENECARE PRIVATE LIMITED	Director	11/03/2014	11/03/2014	-	Active	NO

Name :

Mr. Muthukrishnan Veluswamy Naidu

Designation :

Director

Address :

302, Goodwill Residency, Plot- 8/1A Sector 6, Near Siemens Quarters, Airoli, Navi Mumbai-400708, Maharashtra, India

Date of Birth/Age :

11.05.1965

Date of Appointment :

11.03.2014

DIN No.:

06808266

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.02.2014

Names of Shareholders	No. of Shares	%age holding
Bharti Amit Vaidya	2500	25.00
Amit Ramchandra Vaidya	2500	25.00
Amol Manohar Mulkar	2500	25.00
Muthukrishnan Veluswamy Naidu	2500	25.00
Total	10000	100.00

As on 25.06.2015

Names of Allottess	No. of Shares
Bharti Amit Vaidya	60000
Amit Ramchandra Vaidya	60000
Amol Manohar Mulkar	60000
Muthukrishnan Veluswamy Naidu	60000
Total	240000

BUSINESS DETAILS

Line of Business :	Manufacturer of Sanitary Napkins, Baby Diapering, Hygiene Products.

Products :	Sanitary Napkins Baby Diapering Hygiene Products

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :
Products :	Raw Material
Countries :	Canada China

Terms :
Selling :	L/C, Cheque and Credit

Purchasing :	L/C, Cheque and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference 1 :

Paras Rampuria Private Limited

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

Reference 2 :

Henkel Adhesives Private Limited

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 :

Retailer, End Users, OEMs and All Government Sector

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 :

19 (Approximately)

Bankers :

Bank Name	Axis Bank Limited
Branch	M.G House, Rabindranath Tagore Road, Civil Lines, Nagpur- 440001, Maharashtra, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Bharti Hygienecare Private Limited
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)	Cash Credit Rs.20.000 Million
Account Operation	Not Available
Remarks (If any)	Not Available

IDBI Bank Limited, Civil line, Nagpur, Maharashtra, India

Auditors :
Name :	Ravindra Lashkar Associates Chartered Accountants

Memberships :	--

Collaborators :	--

Associates/Subsidiaries (confirmed by the management) :	Bharati Sales

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount

250000	Equity Shares	Rs.10/- each	Rs. 2.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

250000	Equity Shares	Rs.10/- each	Rs. 2.500 Million

FINANCIAL DATA

[all figures are in Rupees Million]

Particulars

31.03.2015

Sales Turnover (Approximately)

45.000

Expected Sales (2015-2016) : Rs.80.000 Million

The above information has been parted by Mr. Amit Ramchandra Vaidya (Director)

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	Yes
18]	Major suppliers	Yes
19]	Major customers	Yes
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 one year	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	Yes
29]	Profitability for last three years	No
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	10577762	30/10/2015 *	28,000,000.00	Axis Bank Limited	M.G House, Rabindranath Tagore Road, Civil Lines , Nagpur, Maharashtra - 440001, INDIA	C68725308

* Date of charge modification

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.66.38
UK Pound	1	Rs.100.45
Euro	1	Rs.70.55

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	TRI

Report Prepared by :	JYTK

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	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		12

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

INDEX OF CHARGES

Unit