MIRA INFORM REPORT

Report No. :	352280
Report Date :	28.11.2015

IDENTIFICATION DETAILS

Name :	PRIME STRIPS PRIVATE LIMITED
Registered Office :	A - 103/10, Wazirpur Industrial Area, New Delhi – 110052
Mob. No.:	91-9871113150 (Mr. Alok)
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.10.2012
Com. Reg. No.:	55-243162
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U51900DL2012PTC243162
IEC No.:	Not Applicable (As claimed by company management that company does not export and import)
TAN No.: [Tax Deduction & Collection Account No.]	DELP21844E
PAN No.: [Permanent Account No.]	AAGCP8211R
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Stainless Steel Utensils and SS Patta and Patti.
No. of Employees :	10 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Moderate
Payment Behaviour :	Slow and delayed
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Rating is constrained on company’s low profitability margin during FY-14. Rating is further constrained as company recorded huge external borrowings which has threatened the liquidity position of the company. However, trade relations are fair. Business is active. Payment terms are slow and delayed. 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 – 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) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Sanjay Kumar
Designation :	Director
Contact No.:	91-9999958106
Date :	26.11.2015

LOCATIONS

Registered Office/ Warehouse :	A - 103/10, Wazirpur Industrial Area, New Delhi – 110052
Tel. No.:	Not Available
Mobile No.:	91-9871113150 (Mr. Alok) 91-9999958106 (Mr. Sanjay Kumar)
Fax No.:	Not Available
E-Mail :	susheelgupta@hotmail.com sushilvermaca@gmail.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sanjay Kumar

Designation :

Director

Address :

21, Block BF (East), Shalimar Bagh, New Delhi - 110088, India

Date of Birth/Age :

03.07.1968

Date of Appointment :

04.10.2012

DIN No.:

05326137

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	U51502DL2012PTC237965	GAYATRI TRADEX PRIVATE LIMITED	Director	30/06/2012	30/06/2012	17/09/2013	Active	NO
2	U51900DL2012PTC243162	PRIME STRIPS PRIVATE LIMITED	Director	04/10/2012	04/10/2012	-	Active	NO
3	U51101DL2013PTC262255	MADHUR STEELS PRIVATE LIMITED	Director	16/12/2013	16/12/2013	-	Active	NO
4	U27100DL2008PTC173262	SRISHTI TRADEX PRIVATE LIMITED	Additional director	01/07/2014	01/07/2014	20/07/2014	Active	NO

Name :

Mrs. Meenakshi Goel

Designation :

Director

Address :

BF-21, East Shalimar Bagh, New Delhi - 110088, India

Date of Birth/Age :

28.06.1972

Date of Appointment :

04.10.2012

DIN No.:

05349585

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	U51900DL2012PTC243162	PRIME STRIPS PRIVATE LIMITED	Director	04/10/2012	04/10/2012	-	Active	NO
2	U24233DL2013PTC261080	NICE GLOBAL COMMERCE PRIVATE LIMITED	Director	27/11/2013	27/11/2013	19/03/2015	Active	NO

KEY EXECUTIVES

Name :	Mr. Alok
Designation :	Account Department

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Sanjay Kumar	5,000
Meenakshi Goel	5,000
Total	10,000

AS ON 05.01.2015

Names of Allottees	No. of Shares
Sanjay Kumar	245,000
Meenakshi Goel	245,000
Total	490,000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Stainless Steel Utensils and SS Patta and Patti.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit (30/60/90 days)
Purchasing :	Cash and Credit (30/60/90 days)

GENERAL INFORMATION

Suppliers :

Reference :	M.K. Enterprise
Name of the Person :	Mr. Alok (Accountant)
Contact No.:	91-9871113150
Since How Long Known :	3 Years
Experience :	Good
Maximum Limit Dealt :	Rs. 5.000 Million (Monthly)
Remark :	They gave us positive response about subject company they are satisfied with their payment behavior and market goodwill.

Customers :

End Users, OEMs

Reference :	Manave Impex
Name of the Person :	Mr. Ankur Nagar (Accountant)
Contact No.:	91-9599035416
Since How Long Known :	March 2015
Experience :	Good
Maximum Limit Dealt :	Rs. 3.500 to 4.000 Million (Monthly)
Remark :	They gave us positive response about subject company are satisfied with their product quality and delivery behavior.

No. of Employees :

10 (Approximately)

Bankers :

Banker Name	Corporation Bank
Branch Address	Vasant Kunj Branch, Pocket - B, Sector 8 and 9 Vasant Kunj, New Delhi - 110070, India
Person Name (With Designation)	Not Divulged
Contact Number	91-11-26124009 (Continuously Ringing)
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 :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Working Capital Term Loans from Corporation Bank [Secured against hypothecation of stock, book debts and entire current assets of the company and immovable properties belonging to the directors of the company and personal guarantee of directors.]	60.522	0.00
Total	60.522	0.00

Auditors :
Name :	Susheel K Gupta and Company Chartered Accountants
Address :	L- 4/902, Kedar Building, Clock Tower, New Delhi – 110007, India
Tel. No.:	91-11-23821702
Mobile No.:	91-9811004443
E-Mail :	susheelgupta@hotmail.com
PAN No.:	ABLFS8401K
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.10/- each	Rs.10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs.10/- each	Rs.5.000 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	04.10.2012 To 31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	0.329	(0.018)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	0.429	0.082
(3) Non-Current Liabilities
(a) long-term borrowings	20.036	0.000
(b) Deferred tax liabilities (Net)	0.044	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	20.080	0.000
(4) Current Liabilities
(a) Short term borrowings	60.522	0.000
(b) Trade payables	32.492	0.000
(c) Other current liabilities	0.081	0.014
(d) Short-term provisions	0.102	0.000
Total Current Liabilities (4)	93.197	0.014
TOTAL	113.706	0.096
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.721	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	2.721	0.000
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	4.040	0.000
(c) Trade receivables	104.878	0.008
(d) Cash and cash equivalents	0.667	0.073
(e) Short-term loans and advances	1.400	0.000
(f) Other current assets	0.000	0.015
Total Current Assets	110.985	0.096
TOTAL	113.706	0.096

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	04.10.2012 To 31.03.2013
	SALES
	Income	347.886	0.000
	Other Income	0.018	0.007
	TOTAL (A)	347.904	0.007
Less	EXPENSES
	Operational Expenses	0.332	0.000
	Purchases of Stock-in-Trade	348.074	0.006
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(4.040)	0.000
	Employees benefits expense	0.551	0.000
	Other expenses	0.207	0.015
	TOTAL (B)	345.124	0.021
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	2.780	(0.014)
Less	FINANCIAL EXPENSES (D)	1.931	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	0.849	(0.014)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.347	0.004
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	0.502	(0.018)
Less	TAX (H)	0.155	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	0.347	(0.018)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	(0.018)	0.000
	BALANCE CARRIED TO THE B/S	0.329	(0.018)
	Earnings / (Loss) Per Share (Rs.)	34.67	(1.79)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	04.10.2012 To 31.03.2013
Current Maturities of Long term debt	NA	NA
Cash generated from operations	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	04.10.2012 To 31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.10	0.00
Operating Profit Margin (PBIDT/Sales)	(%)	0.80	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.44	(18.75)
Return on Investment (ROI) (PBT/Networth)		1.17	(0.22)
Debt Equity Ratio (Total Debt /Networth)		187.78	0.00
Current Ratio (Current Asset/Current Liability)		1.19	6.86

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	04.10.2012 to 31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100
Reserves & Surplus	(0.018)	0.329
Share Application money pending allotment	0.000	0.000
Net worth	0.082	0.429
long-term borrowings	0.000	20.036
Short term borrowings	0.000	60.522
Total borrowings	0.000	80.558
Debt/Equity ratio	0.000	187.781

YEAR-ON-YEAR GROWTH

Year on Year Growth	04.10.2012 to 31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Total Income	0.007	347.904
		49,69,957.143

NET PROFIT MARGIN

Net Profit Margin	04.10.2012 to 31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Total Income	0.007	347.904
Profit/Loss	(0.018)	0.347
	(257.14%)	0.10%

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	No
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)	No
16	No. of employees	Yes
17	Details of sister concerns	No
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	Yes
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	-----
28	Estimation for coming financial year	No
29	Profitability for last two 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

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans from Directors
From Sanjay Kumar	9.308	0.000
From Meenakshi Goel	10.728	0.000
Total	20.036	0.000

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10466478	25/10/2013	70,000,000.00	CORPORATION BANK	VASANT KUNJ BRANCH, POCKET- B, SECTOR-8 & 9 VASAN  T KUNJ, NEW DELHI, DELHI - 110070, INDIA	B92078781

BACKGROUND

The company is engaged in trading of Stainless Steel Utensils and SS Patta and Patti.

FINANCIAL RESULTS

During the year, the company has earned Profit of Rs.0.347 Million (Previous year Loss of Rs. 0.018 Million).

FIXED ASSETS

• Air Conditioner
• CCTV Camera
• Computer
• Fire Equipment
• Fridge
• Machinery
• Printer
• Weighting Machine
• Furniture and Fixture

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. 66.55
UK Pound	1	Rs. 100.64
Euro	1	Rs. 70.70

INFORMATION DETAILS

Information Gathered by :	SPR
Analysis Done by :	KAS
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	2
--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	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		26

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.