MIRA INFORM REPORT

Report No. :	339052
Report Date :	04.09.2015

IDENTIFICATION DETAILS

Name :	TRAVANCORE FOODS INDIA PRIVATE LIMITED

Registered Office :	FM-18 Manasarovar Complex, 7 No Stop, Shivaji Nagar, Bhopal – 462016, Madhya Pradesh
Mob. No.:	91-22-61983180

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	19.07.2011

Com. Reg. No.:	10-026424

Capital Investment / Paid-up Capital :	Rs. 20.000 Million

CIN No.: [Company Identification No.]	U15400MP2011PTC026424

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 :	Subject is engaged in Business of Food Courts.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

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 :	Slow

Litigation :	Clear

Comments :	Subject is an established company incorporated in the year 2011 having a moderate track record. The financial position of the company is weak. It has incurred huge accumulated losses which has fully eroded its entire net worth. Further, the borrowings recorded by the company are also huge which further act as a threat to the liquidity position of the company. However, Business is active. Payment terms are reported to be slow. The company can be considered for business dealings on a 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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

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 31-03-2013.

INFORMATION DECLINED BY

Name :	Mr. Sanjeev Dubey
Designation :	Finance Head
Contact No.:	91-22-61983180
Date :	02.09.2015

LOCATIONS

Registered Office :	FM-18 Manasarovar Complex, 7 No Stop, Shivaji Nagar, Bhopal – 462016, Madhya Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	sanjay.dubey@gbcindia.in sanjiv.singh@groupcarnival.com

Corporate Office :	1101, 11^th Floor, A-Wing, Express Zone, Off. W.E. Highway, Malad (East), Mumbai – 400097, Maharashtra, India
Tel. No.:	91-22-61983180

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sasikumar Kanjilil Sankarankutty

Designation :

Director

Address :

Kalabhavan, Nandanam, Vengoor, Kidangoor P.O, Angamaly, Ernakulam - 683572, Kerala, India

Date of Birth/Age :

05.03.1967

Date of Appointment :

19.07.2011

DIN No.:

03519303

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	U74140MP2011PTC025185	GLOBAL BUSINESS CONEXXTIONS PRIVATE LIMITED	Director	20/08/2015	01/04/2011	-	Active	NO
2	U92100MH2010PTC206845	AOPL ENTERTAINMENT PRIVATE LIMITED	Director	30/09/2011	01/04/2011	-	Active	NO
3	U15400MP2011PTC026424	TRAVANCORE FOODS INDIA PRIVATE LIMITED	Director	19/07/2011	19/07/2011	-	Active	NO
4	U80904MP2013NPL031932	CARNIVAL EDUTECH FOUNDATIONS	Director	11/12/2013	11/12/2013	-	Active	NO
5	U74120MP2013PTC031985	VAARTHA NEWS NETWORK PRIVATE LIMITED	Director	23/12/2013	23/12/2013	-	Active	NO
6	U92100MP2014PTC032485	CARNIVAL MOTION PICTURES PRIVATE LIMITED	Director	07/03/2014	07/03/2014	-	Active	NO
7	U52599MP2013PTC030247	PANASIA COMMODITY TRADING PRIVATE LIMITED	Additional director	18/08/2014	18/08/2014	11/05/2015	Active	NO
8	U45400MP2014PTC033079	CARNIVAL INFRAVENTURES PRIVATE LIMITED	Director	21/08/2014	21/08/2014	-	Active	NO
9	U65990MH1996PTC098250	CARNIVAL SOFT PRIVATE LIMITED	Additional director	12/08/2015	12/08/2015	-	Active	NO

Name :

Sony Ravindranath

Designation :

Additional Director

Address :

Surabhi, Vengoor, Kidangoor P O, Angamaly Ernakulam - 683591, Kerala, India

Date of Birth/Age :

20.10.1984

Date of Appointment :

02.04.2012

DIN No.:

05003112

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	Company/ LLP Status	Defaulting status
1	U15400MP2011PTC026424	TRAVANCORE FOODS INDIA PRIVATE LIMITED	Additional director	02/04/2012	02/04/2012	Active	NO
2	U80904MP2013NPL031932	CARNIVAL EDUTECH FOUNDATIONS	Director	11/12/2013	11/12/2013	Active	NO
3	U74120MP2013PTC031985	VAARTHA NEWS NETWORK PRIVATE LIMITED	Director	03/01/2014	03/01/2014	Active	NO
4	U55101KL1999PTC012841	TRICHUR TOWERS HOTEL PRIVATE LIMITED	Nominee director	01/09/2014	01/09/2014	Active	NO
5	U55101MP2013PTC030249	GBC MEGA MOTELS PRIVATE LIMITED	Additional director	04/11/2014	04/11/2014	Active	NO
6	U22120MP2011PTC027301	CARNIVAL MEDIA PRIVATE LIMITED	Director	20/01/2015	20/01/2015	Active	NO
7	U52599MP2013PTC030247	PANASIA COMMODITY TRADING PRIVATE LIMITED	Additional director	11/05/2015	11/05/2015	Active	NO
8	U74120MH2012PTC232410	CINEMA VENTURES PRIVATE LIMITED	Additional director	01/08/2015	01/08/2015	Active	NO
9	U70200MH2010PTC204622	LEELA LACE INFO PARK PRIVATE LIMITED	Additional director	12/08/2015	12/08/2015	Active	NO
10	AAA-0599	NANDANAM TOURS AND TRAVELS LIMITED LIABILITY PARTNERSHIP	Designated Partner	14/01/2010	14/01/2010	Active	NO

KEY EXECUTIVES

Name :	Mr. Sanjeev Dubey
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Global Business Connextions Private Limited	199950	99.98
Sony Ravindranath	50	0.03

Total	200000	100.00

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	99.98
Directors or relatives of directors	0.02

Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in Business of Food Courts.

Brand Names :	--

Agencies Held :	--

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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 A/C Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (Cc/Od/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· State Bank of India, Habibganj Branch, 4th Roor House, M.P.Nagar, Zone-II, Bhopal - 462011, Madhya Pradesh, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Loans Repayable on demand
From Bank
HDFC Bank car Loan	0.542	0.146
SBI TL	35.295	0.000
From Other Parties	148.165	74.344

Total	184.002	74.490

Banking Relations :	--

Auditors :
Name :	Joshi and Charles Chartered Accountants
Address :	Flat No M 804, Eight Floor, Vijay Stambhzone 1, M.P.Nagar, Bhopal – 462016, Madhya Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AASSJ4487M

Memberships :	--

Collaborators :	--

Holding Company :	Global Business Conexxtions Private Limited

Where Control Exists :	· Allantic Commodities Private Limited · Anthapilly Plantations · ABC Entertainment Private Limited · AOPL Entertainment Private Limited · Carnival Films Private Limited · Carnival Medio Private Limited · GBC Mega Motels Private Limited · Advantage Overseas Private Limited · AMG Marketing and Financial Services Private Limited · D'Carnival Recreations Private Limited · D'Carnival Foods and Beverages Private Limited · Panasia Commodity Trading Private Limited · Trichur Tower Hotels Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

200,000	Equity Shares	Rs. 100/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

200,000	Equity Shares	Rs. 100/- each	Rs. 20.000 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	20.000	0.100	0.100
(b) Reserves & Surplus	(61.231)	(17.043)	0.000
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.100	20.000	0.000
Total Shareholders’ Funds (1) + (2)	(41.131)	3.057	0.100

(3) Non-Current Liabilities
(a) Long-term borrowings	184.002	74.49	10.113
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	184.002	74.490	10.113

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	22.636	3.485	0.000
(c) Other current liabilities	2.137	1.822	0.046
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	24.773	5.307	0.046

TOTAL	167.644	82.854	10.259

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	111.129	30.876	0.053
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	39.910	9.729
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.219
Total Non-Current Assets	111.129	70.786	10.001

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.270	0.705	0.000
(c) Trade receivables	1.466	0.042	0.000
(d) Cash and cash equivalents	3.232	1.617	0.208
(e) Short-term loans and advances	51.547	9.704	0.050
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	56.515	12.068	0.258

TOTAL	167.644	82.854	10.259

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	69.632	25.424	0.000

Less	EXPENSES
		TOTAL	113.820	42.467	0.000

	PROFIT/ (LOSS) BEFORE TAX		(44.188)	(17.043)	0.000

Less	TAX		0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX		(44.188)	(17.043)	0.000

	Earnings Per Share (Rs.)		(220.94)	(85.22)	0.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA

Cash Generated from Operations	NA	NA	NA

Net Cash Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012

Return on Total Assets (PBT/Total Assets}	(%)	(26.36)	(39.69)	0.00

Return on Investment (ROI) (PBT/Networth)		1.07	(5.58)	0.00

Debt Equity Ratio (Total Liability/Networth)		(4.47)	24.37	101.13

Current Ratio (Current Asset/Current Liability)		2.28	2.27	5.61

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	0.100	0.100	20.000
Reserves & Surplus	0.000	(17.043)	(61.231)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	20.000	0.100
Net worth	0.100	3.057	(41.131)

Long-term borrowings	10.113	74.490	184.002
Short term borrowings	0.000	0.000	0.000
Total borrowings	10.113	74.490	184.002
Debt/Equity ratio	101.130	24.367	(4.474)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	0.000	25.424	69.632
			173.883

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	0.000	25.424	69.632
Profit	0.000	(17.043)	(44.188_
	#DIV/0!	(67.04%)	(63.46%)

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	Yes
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	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	No
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	10424803	23/03/2013	36,250,000.00	STATE BANK OF INDIA	HABIBGANJ BRANCH, 4TH ROOR HOUSE, M.P.NAGAR, ZONE -II, BHOPAL - 462011, MADHYA PRADESH, INDIA	B74796475

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.66.23
UK Pound	1	Rs.101.22
Euro	1	Rs.74.33

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	DIV

Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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		13

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

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