MIRA INFORM REPORT

Report No. :	344429
Report Date :	08.10.2015

IDENTIFICATION DETAILS

Name :	NAVM INFRASTRUCTURE PRIVATE LIMITED
Registered Office :	UG-04, Malibu Shopping Arcade, Malibu Towne, Sohna Road, Gurgaon - 122101, Haryana
Tel. No.:	91-11-26418183
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.03.2011
Com. Reg. No.:	05-042318
Capital Investment / Paid-up Capital :	Rs.10.000 Million
CIN No.: [Company Identification No.]	U45200HR2011PTC042318
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	RTKN02890G
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of office equipment and construction materials
No. of Employees :	15 (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. For the financial year ended 2014, the company has weak operational activity and incurred huge losses incurred. It has moderate financial base along with negative reserves position. Trade relations are fair. Business is active. Payments are slow and delayed. In view of limited business track record, the company can be considered for business dealings with some caution.

NOTES :s

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. Gnanaprakasam Mariappan
Designation :	Director
Contact No.:	91-9963932333

LOCATIONS

Registered Office :	UG-04, Malibu Shopping Arcade, Malibu Towne, Sohna Road, Gurgaon - 122101, Haryana, India
Tel. No.:	91-11-26418183
Mobile No.:	91-9810058349 (Mr. Harish Jaggi)
Fax No.:	91-11-26476825
E-Mail :	jaggiharish1960@gmail.com asg@airtelmail.in
Branch Office:	B - 249, Greater Kailash Part-1, New Delhi – 110048, India
Tel. No.:	91-124-246248
Email:	mail@navm.in

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Gnanaprakasam Mariappan

Designation :

Director

Address :

2-2/3-B, 2nd Street, Anna Salai, Koodal Nagar, Madurai – 625018, Tamilnadu, India

Date of Birth/Age :

30.10.1956

Date of Appointment :

08.05.2012

DIN No.:

03344256

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	U45200HR2011PTC042318	NAVM INFRASTRUCTURE PRIVATE LIMITED	Director	7/3/2011	7/3/2011	-	Active	NO
2	U31908KA2007PTC072370	ASM THERMAL SPRAY PRIVATE LIMITED	Additional director	3/11/2011	3/11/2011	11/6/2012	Active	NO
3	U93000DL2012PTC235488	NAVM CORPORATE SERVICES PRIVATE LIMITED	Director	8/5/2012	8/5/2012	-	Active	NO

Name :

Mr. Sumit Cowshik

Designation :

Additional Director

Address :

H No. 1/9, Lantana Street, Vatika City, Sector – 49, Gurgaon – 122101, Haryana, India

Date of Birth/Age :

09.09.1968

Date of Appointment :

30.12.2011

DIN No.:

05213778

Name :

Mr. Harish Jaggi

Designation :

Additional Director

Address :

B – 249, Greater Kailash – 1, New Delhi – 122101, India

Date of Birth/Age :

16.05.1960

Date of Appointment :

01.05.2012

DIN No.:

00589294

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	U51909DL2005PTC137835	YARICO AGENCIES PRIVATE LIMITED	Director	21/06/2005	21/06/2005	22/06/2012	Active	NO
2	U45200HR2011PTC042318	NAVM INFRASTRUCTURE PRIVATE LIMITED	Additional director	1/5/2012	1/5/2012	-	Active	NO

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Gnanaprakasam Mariappan	250000
Neeru Bhatia	250000
Vakul Cowshik	110000
Anjali Jaggi	250000
Sumit Cowshik	140000
Total	1000000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	75.00
Other top fifty shareholders	25.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of office equipment and construction materials
Products :	Office Equipment Construction Materials etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit (30,60,90 Days)
Purchasing :	Cash and Credit (30,60,90 Days)

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 :	Not Divulged
Remark:	Not Divulged

Customers :

End Users and OEMs

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 :	Not Divulged
Remark:	Not Divulged

No. of Employees :

15 (Approximately)

Bankers :

Banker Name	IDBI Bank Limited
Branch Address	Kalkaji Branch, Delhi, India
Person Name (With Designation)	Ms. Jayashree (Relationship Manager)
Contact Number	91-11-64641940
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)	Concern person not available

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWINGS
Term Loans
From Banks	0.178	0.591
Total	0.178	0.591

Notes:

LONG TERM BORROWING:

Term Loans from banks raised for vehicles are secured against hypothecation of specific assets

Auditors :
Name :	A S G and Associates Chartered Accountants
Address :	74, Hemkunt Colony, Nehru Place, Delhi – 110048, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAFA3976H
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
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

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	10.000	10.000	10.000
(b) Reserves & Surplus	(5.665)	1.614	0.684
(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)	4.335	11.614	10.684
(3) Non-Current Liabilities
(a) long-term borrowings	0.178	0.591	0.000
(b) Deferred tax liabilities (Net)	0.000	0.102	0.014
(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)	0.178	0.693	0.014
(4) Current Liabilities
(a) Short term borrowings	6.339	6.901	1.776
(b) Trade payables	40.742	3.616	4.395
(c) Other current liabilities	48.939	2.421	5.126
(d) Short-term provisions	0.000	0.000	0.043
Total Current Liabilities (4)	96.020	12.938	11.340
TOTAL	100.533	25.245	22.038
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.504	3.131	1.769
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	2.908	0.000	0.000
(d) Long-term Loan and Advances	0.444	0.326	0.076
(e) Other Non-current assets	1.605	1.258	0.432
Total Non-Current Assets	7.461	4.715	2.277
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.445	0.390
(c) Trade receivables	25.968	6.080	2.044
(d) Cash and cash equivalents	1.465	0.857	0.166
(e) Short-term loans and advances	62.985	1.941	0.627
(f) Other current assets	2.654	11.207	16.534
Total Current Assets	93.072	20.530	19.761
TOTAL	100.533	25.245	22.038

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	NA	NA	NA
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	(10.289)	1.366	1.093
Less	TAX	(3.009)	0.436	0.377
	PROFIT/ (LOSS) AFTER TAX	(7.280)	0.930	0.716
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	1.615	0.684	(0.031)
	Balance Carried to the B/S	(5.665)	1.614	0.685
	Earnings / (Loss) Per Share (Rs.)	(7.28)	0.93	0.716

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.412	0.368	NA
Cash generated from operations	1.867	(2.950)	NA
Net cash flows from operating activities	1.748	(3.617)	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	(10.54)	5.41	4.96
Return on Investment (ROI) (PBT/Networth)		(2.37)	0.12	0.10
Debt Equity Ratio (Total Debt /Networth)		1.60	0.68	0.17
Current Ratio (Current Asset/Current Liability)		0.97	1.59	1.74

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	10.000	10.000	10.000
Reserves & Surplus	0.684	1.614	(5.665)
Net worth	10.684	11.614	4.335
long-term borrowings	0.000	0.591	0.178
Short term borrowings	1.776	6.901	6.339
Total borrowings	1.776	7.860	6.929
Debt/Equity ratio	0.166	0.677	1.598

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	No
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	Yes
26	Turnover of firm for last three years	No
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	No
35	Negative Reporting by Auditors in the Annual Report	No

Note: The registered address of the company has been shifted from Shop No.7, Ground Floor, Edmonton Shopping Mall, Hotel Bristol, M.G. Road, Gurgaon – 122001, Haryana, India to the present address, but the same has been not updated in the government registry.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Advance from employer	0.096	0.096
Loans and Advances from Related parties	6.243	6.805
Total	6.339	6.901

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

Tangible Assets

Furniture and Fixtures

Office Equipment

Land

Building

Plant and Machinery

Computer

Vehicles

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.65.26
UK Pound	1	Rs.99.53
Euro	1	Rs.73.47

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	TRI
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	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	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.