MIRA INFORM REPORT

Report No. :	342910
Report Date :	01.10.2015

IDENTIFICATION DETAILS

Name :	MFN CONSULTANTS PRIVATE LIMITED
Registered Office :	C-557, Sheikh Sarai, Phase I, New Delhi - 110017
Mobile No..:	91-9814168900
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	06.11.2007
Com. Reg. No.:	55-170212
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U74140DL2007PTC170212
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 :	Trader, Exporter and Importer of FMCG Products
No. of Employees :	38 (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 an established having moderate track. Management of the company has failed to file its latest financials for the year 2014 to the government department. Further, as per registrar of companies the date of balance sheet (i.e. financial field) is shown as 31.03.2013 but documents related to financial for the year ending 2013 is not available from any source. As per the available financial of the year 2012, the company had incurred losses and resulted in erosion of networth position. Further, Mr. Sahil Tandon (Director) provided all general information and claimed that the subject has achieved sales turnover of Rs. 1500.000 Million in FY, however which has not been verified with the supported financials. Trade relations are fair. Business is active. Payment terms are reported to unknown. In view of risk associated with the unavailability of latest financials, the company can be considered for business dealings with fully 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 – 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. Sahil Tandon
Designation :	Director
Contact No.:	91-9814168900
Date :	29.09.2015

LOCATIONS

Registered Office :	C-557, Sheikh Sarai Phase I, New Delhi - 110017,India
Tel. No.:	Not Available
Mobile No.:	91-9814168900
Fax No.:	Not Available
E-Mail :	trusassociation@yahoo.com
Website :	http://www.azimportexport.com
Branch Office :	81, Raja Garden, Kapurthala Road, Jalandhar - 144002, Punjab, India
Tel. No.:	91-181-2207788
Fax No.:	91-181-2208490
Overseas Office:	Located at: Mumbai Bangalore Indore Pune Kolkata Chennai

DIRECTORS

As on 30.09.2013

Name :	Mrs. Jyotika Singh
Designation :	Additional director
Address :	17-R, Model Town, Ludhiana - 141002, Punjab, India
Date of Appointment :	24.12.2012
DIN No.:	06456828
Name :	Mrs. Rekha Tandon
Designation :	Additional Director
Address :	EJ-88, Tandon Cottage, Behind Raj Mahal Hotel,Jalandhar - 144001, Punjab, India
Date of Appointment :	24.12.2012
DIN No.:	06456837
Name :	Mr. Sahil Tandon
Designation :	Additional Director
Address :	EJ-88, Tandon Cottage, Behind Raj Mahal Hotel, Jalandhar - 144001, Punjab, India
Date of Appointment :	24.12.2012
DIN No.:	06461049

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	%age holding
Sanjay Shaligram Sakalley	5000	50.00
Neha Sakalley	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Exporter and Importer of FMCG Products
Products :	FMCG Products
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	FMCG Products
Countries :	European Country United State America UK Malaysia Srilanka Switzerland Middle East
Imports :
Products :	FMCG Products
Countries :	European Country United State America Canada
Terms :
Selling :	Depend
Purchasing :	Depend

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• Fine Overseas
• Sachdeva Association

Reference :	Tru Association
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Wholesalers, End Users

• Vinod Mehta and Company
• Saurabh Enterprises

Reference :	Banu and Company
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

38 (Approximately)

Bankers :

• Kotak Mahindra Limited

Bank Name	ICICI Bank Limited
Branch	New Delhi, 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 31.03.2012	As on 31.03.2011
LONG TERM BORROWING
Kotak Mahindra Bank Limited	0.381	0.693
Total	0.381	0.693

Auditors :

Name 1 :

R.S. Khera and Associates

Chartered Accountants

Address:

Upstairs Chawla Juice Corner, Gilli Road, Ludhiana - 141003, Punjab, India

PAN N Income-tax PAN of auditor or auditor's firm :

AFIPS4426H

Name 2 :

(As on 31.03.2012)

Kapil Sandeep and Associates

Chartered Accountants

Address:

261-G, Saheed Bhagat Singh Nagar, Pakhowal Road, Ludhiana - 141002. Punjab, India

PAN N Income-tax PAN of auditor or auditor's firm :

ABOPM2366E

Memberships :

--

Collaborators :

--

Associates/Subsidiaries :

(As confirmed by the management)

• Tru Associates, 81, Raja Garden, Kapurthala Road, Jalandhar - 144002, Punjab, India

• A and Z Export International

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	(0.312)	(0.535)
(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)	(0.212)	-0.435
(3) Non-Current Liabilities
(a) long-term borrowings	5.815	5.697
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	5.815	5.697
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	0.496	0.191
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	0.496	0.190
TOTAL	6.099	5.452
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.426	0.655
(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	0.426	0.655
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	4.760	4.760
(d) Cash and cash equivalents	0.890	0.015
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.023	0.022
Total Current Assets	5.673	4.797
TOTAL	6.099	5.452

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		(0.024)
4] (Accumulated Losses)		0.000
NETWORTH		0.076
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.020
TOTAL BORROWING		0.020
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.096
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.884
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.391
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		0.391
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities	1.099
	Provisions	0.080
Total Current Liabilities		1.179
Net Current Assets		(0.788)
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.096

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2012	31.03.2011	31.03.2010
	SALES
	Income			N.A
	Other Income			N.A
	TOTAL	5.463	4.991	N.A
Less	TOTAL EXPENSES	5.458	5.273	N.A
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.005	(0.282)	N.A
Less/ Add	DEPRECIATION/ AMORTISATION	0.228	0.228	N.A
	PROFIT/ (LOSS) BEFORE TAX	(0.223)	(0.510)	N.A
Less	TAX	0.089	(1.045)	N.A
	PROFIT/ (LOSS) AFTER TAX	(0.312)	(0.535)	0.114
	Earnings / (Loss) Per Share (Rs.)	(31.2)	(53.5)	11.4

Particulars	31.03.2015	31.03.2014	31.03.2013
Sales Turnover (Approximately)	2000.000	1500.000	100.000

Expected Sales (2015-2016): Rs.5000.000 Million (Due to more orders received and they have monopoly in the market)

The above information has been parted by Mr. Sahil Tandon (Director)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2012	31.03.2011	31.03.2010
Current Maturities of Long term debt	N.A	N.A	N.A
Cash generated from operations	N.A	N.A	N.A
Net cash flow from operating activity	N.A	N.A	N.A

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PAT / Sales)	(%)	(5.71)	(10.72)	N.A
Operating Profit Margin (PBIDT/Sales)	(%)	0.00	0.00	N.A
Return on Total Assets (PBT/Total Assets}	(%)	(3.66)	(9.35)	N.A
Return on Investment (ROI) (PBT/Networth)		1.05	(0.80)	N.A
Debt Equity Ratio (Total Debt /Networth)		(27.43)	(13.10)	0.26
Current Ratio (Current Asset/Current Liability)		11.44	25.25	N.A

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	(0.024)	(0.535)	(0.312)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.076	(0.435)	(0.212)
long-term borrowings	0.020	5.697	5.815
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.020	5.697	5.815
Debt/Equity ratio	0.263	(13.097)	(27.429)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012
	(Rs. In Million)	(Rs. In Million)
Total Income	4.991	5.463
		9.457

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012
	(Rs. In Million)	(Rs. In Million)
Total Income	4.991	5.463
Profit	(0.535)	(0.312)
	(10.72)%	(5.71)%

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)	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 two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
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

NOTE: Registered office of the company has been shifted from to B-61/SFS Sheika Sarai, Phase-ISSS, New Delhi - 110017, India the present address w.e.f. 28.09.2012

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWING
From Director	0.423	0.020
Majestic Hotel Limited	1.190	1.190
Macro Dairy Ventures Private Limited	3.595	3.569
Diginative Content Solutions Private Limited	0.226	0.225
Total	5.434	5.004

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

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.65.74
UK Pound	1	Rs.99.53
Euro	1	Rs.73.79

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	KIN
Report Prepared by :	RKI

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	YES
--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.