MIRA INFORM REPORT

Report No. :	340835
Report Date :	15.09.2015

IDENTIFICATION DETAILS

Name :	GLOBAL ASSETS LEASING AND FINANCE PRIVATE LIMITED
Registered Office :	Flat No. 25, First Floor, Jangpura Extension Market, New Delhi-110014, Delhi
Tel. No.:	91-11-41063220
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.03.2011
Com. Reg. No.:	55-215809
Capital Investment / Paid-up Capital :	Rs. 88.500 Million
CIN No.: [Company Identification No.]	U65923DL2011PTC215809
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELG15020F
PAN No.: [Permanent Account No.]	AAECG1598G
Legal Form :	Private Limited Liability Company
Line of Business :	To carry on the business of leasing, financing, managing, purchasing, selling, hiring, letting on hire and dealing in all kinds of vehicles, lorries, trucks, motor cars, motor buses, scooters, auto rickshaws and all other vehicles.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 270000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is established company having a moderate track record. Rating is constrained on company small scale of operation and profitability margin marked by decline in its cash and cash equivalents in FY2014, albeit an improvement in its capital structure backed by zero debt balance sheet profile. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. In view of experienced promoters, the company can be considered for normal business dealings with some cautions.

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 DENIED BY

Name :	Mr. Anil Jain
Designation :	Director
Contact No.:	91-8800471010
Date :	14.09.2015

LOCATIONS

Registered Office :	Flat No. 25, First Floor, Jangpura Extension Market, New Delhi-110014, Delhi, India
Tel. No.:	91-11-41063220
Mobile No.:	91-8800471010 (Mr. Anil Jain)
Fax No.:	91-11-41063220
E-Mail :	galfpl2011@live.com info@globalasset.co.in

DIRECTORS

As on 14.08.2014

Name :

Mr. Ramandeep Singh Sethi

Designation :

Director

Address :

House No.145, Chander Nagar, Lucknow-226020, Uttar Pradesh, India

Date of Birth/Age :

19.12.1983

Date of Appointment :

14.03.2011

DIN No.:

00175878

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	U15118HR2005PTC035835	P. B. S. FOODS PRIVATE LIMITED	Whole-time director	01/01/2014	04/05/2006	-	Active	NO
2	U65923DL2011PTC215809	GLOBAL ASSETS LEASING AND FINANCE PRIVATE LIMITED	Director	14/03/2011	14/03/2011	-	Active	NO
3	U92111PB2001PTC024560	A B MOTIONS PRIVATE LIMITED	Director	30/09/2011	19/05/2011	17/09/2012	Active	NO
4	U15311BR1980PTC001454	ADITYA FLOUR MILLS PRIVATE LIMITED	Director	08/09/2014	25/01/2014	-	Active	NO
5	U65922DL2015PTC284077	Global Loans Private Limited	Director	13/08/2015	13/08/2015	-	Active	NO

Name :

Mr. Ankit Jain

Designation :

Director

Address :

C - 8/264, Yamuna Vihar, Delhi-110053, India

Date of Birth/Age :

06.08.1979

Date of Appointment :

14.03.2011

DIN No.:

02455151

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	U74900DL2009PTC187562	PANACEA PROFESSIONAL SERVICES PRIVATE LIMITED	Director	12/02/2009	12/02/2009	-	Converted to LLP	NO
2	U51909DL2011PTC215348	Jain Diagnostic Private Limited	Director	07/03/2011	07/03/2011	-	Active	NO
3	U65923DL2011PTC215809	GLOBAL ASSETS LEASING AND FINANCE PRIVATE LIMITED	Director	14/03/2011	14/03/2011	-	Active	NO
4	U65922DL2015PTC284077	Global Loans Private Limited	Director	13/08/2015	13/08/2015	-	Active	NO
5	AAA-0451	PANACEA PROFESSIONAL SERVICES LLP	Designated Partner	04/12/2009	04/12/2009	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sagar Gaur
Designation :	Secretary
Address :	44-A, GG-2, VIkas Puri, New Delhi-110018, Delhi, India
Date of Birth/Age :	16.03.1988
Date of Appointment :	01.08.2014
PAN No.:	APAPG6288B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 14.08.2014

Names of Shareholders	No. of Shares
P.B.S. Foods Private Limited, India	12849999
Ramandeep Singh Sethi	1
Total	12850000

Equity Share Break up (Percentage of Total Equity)

As on 14.08.2014

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	To carry on the business of leasing, financing, managing, purchasing, selling, hiring, letting on hire and dealing in all kinds of vehicles, lorries, trucks, motor cars, motor buses, scooters, auto rickshaws and all other vehicles.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

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 :

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 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

Banking Relations :	--
Auditors :
Name :	Amit Krishna and Associates Chartered Accountants
Address :	91, Karishma Apartments, Plot No -27, I.P. Extension, Patparganj, Delhi-110092, India
Mobile No.:	91-9810453547/9711860602
E-Mail :	Amitkrishna999@yahoo.com
PAN N Income-tax PAN of auditor or auditor's firm :	AACPR4915R
Memberships :	--
Collaborators :	--
Holding Company :	P.B.S. Foods Private Limited CIN No.: U15118HR2005PTC035835

CAPITAL STRUCTURE

After 14.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
35000000	Equity Shares	Rs.10/- each	Rs. 350.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs.10/- each	Rs.300.000 Million

As on 14.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs. 200.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12850000	Equity Shares	Rs.10/- each	Rs.128.500 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8850000	Equity Shares	Rs.10/- each	Rs.88.500 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	88.500	21.000	21.000
(b) Reserves & Surplus	4.570	1.852	0.523
(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)	93.070	22.852	21.523
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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	0.228	0.000	0.000
Total Non-current Liabilities (3)	0.228	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.169	0.014	0.018
(d) Short-term provisions	0.143	0.416	0.207
Total Current Liabilities (4)	0.312	0.430	0.225
TOTAL	93.610	23.282	21.748
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.605	0.000	0.000
(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)	0.096	0.045	0.060
(d) Long-term Loan and Advances	71.276	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	71.977	0.045	0.060
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	1.036	23.103	21.560
(e) Short-term loans and advances	20.202	0.000	0.000
(f) Other current assets	0.395	0.134	0.128
Total Current Assets	21.633	23.237	21.688
TOTAL	93.610	23.282	21.748

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL	6.675	1.980	1.109
Less	EXPENSES		2.425	0.022	0.328
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		4.250	1.958	0.781
Less/ Add	DEPRECIATION/ AMORTISATION		0.058	0.000	0.000
	PROFIT BEFORE TAX		4.192	1.958	0.781
Less	TAX		1.474	0.629	0.258
	PROFIT AFTER TAX		2.718	1.329	0.523
	Earnings Per Share (Rs.)		0.70	0.63	0.25

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 flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	40.72	67.12	47.16
Return on Total Assets (PBT/Total Assets}	(%)	4.48	8.43	3.60
Return on Investment (ROI) (PBT/Networth)		0.05	0.09	0.04
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		69.34	54.04	96.39

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	21.000	21.000	88.500
Reserves & Surplus	0.523	1.852	4.570
Net worth	21.523	22.852	93.070
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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)
Sales	1.109	1.980	6.675
		78.539	237.121

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1.109	1.980	6.675
Profit	0.523	1.329	2.718
	47.16%	67.12%	40.72%

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	No
21]	Banking facility details	No
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

NOTE: Registered office of the company has been shifted from 1592/13, Govind Puri, Kalkaji, Delhi-110019, India to the present address w.e.f. 14.11.2013.

INDEX OF CHARGES NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

• Office equipment
• Computer
• 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 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.66.37
UK Pound	1	Rs.102.54
Euro	1	Rs.75.32

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAS
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--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	NO
--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		29

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.