MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	503410
Report Date :	12.04.2018

IDENTIFICATION DETAILS

Name :	NEXZONE BUILDCON LLP

Registered Office :	702, Marathon Max, Junction of Mulund-Goregaon Link Road, Off LBS Marg, Mulund (West), Mumbai- 400080, Maharashtra
Tel. No.:	91-22-67248484

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	07.09.2011

Total Obligation Fund :	INR 13.000 million

LLPIN :	AAA-6170

IEC No.: [Import-Export Code No.]	Not Divulged

TIN No.:	Not Divulged

GSTN : [Goods & Service Tax Registration No.]	Not Divulged

PAN No.: [Permanent Account No.]	Not Divulged

Legal Form :	Limited Liability Partnership

Line of Business :	To carry on the business of real estate (Registered Activity)

No. of Employees :	Not Divulged

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Maximum Credit Limit :	USD 37000 INR 2555400

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject was incorporated in the year 2011. It is engaged in the business of construction. The subject has not earned income from its operations during the year under the review. The subject possesses moderate financial position marked by negative reserve base. Business is active. No payment terms are known. In view of aforesaid, the subject can 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

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

India

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2018.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 12.04.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DENIED BY

Name :	Not Divulged
Designation :	Office Executive
Contact No.:	91-22-67248484
Date :	11.04.2018

(Mobile No.: 91-9167163545 - Continuously Ringing)

LOCATIONS

Registered Office :	702, Marathon Max, Junction of Mulund-Goregaon Link Road, Off LBS Marg, Mulund (West), Mumbai- 400080, Maharashtra, India
Tel. No.:	91-22-67248484
Fax No.:	91-22-67728408
E-Mail :	kaivalya.shah@marathonrealty.com marathon@marathonrealty.com

PARTNERS

As on 2017

Name :

Mr. Mayur Ramniklal Shah

Designation :

Designated Partner

Address :

Kailash Bunglow Devidayal Road, Mulund (West), Mumbai-400080, Maharashtra, India

Date of Birth/ Age:

13.04.1962

Date of Appointment :

07.09.2011

PAN No.:

AAJPS2829Q

DPIN No.:

00135504

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U40102MH2007PTC172714	MATRIX ENCLAVES PROJECTS DEVELOPMENTS PRIVATE LIMITED	31/07/2007	-
L65990MH1978PLC020080	MARATHON NEXTGEN REALTY LIMITED	31/03/2003	-
U74140MH1983PTC029425	CORNELL HOUSING AND INFRASTRUCTURE PRIVATE LIMITED	01/10/2010	-
U72900MH2007PTC172668	MARATHON IT INFRASTRUCTURE PRIVATE LIMITED	01/01/2012	-
U74140MH1992PTC065728	LARK CONSULTANCY PRIVATE LIMITED	04/03/1992	-
U51909MH2004PLC148441	SWAYAM REALTORS AND TRADERS LIMITED	17/03/2006	-
U70100MH2003PTC143466	SVARNIM ENTERPRISES PRIVATE LIMITED	27/05/2004	-
U20210MH1993PTC073697	TERRAPOLIS ASSETS PRIVATE LIMITED	04/03/2017	-
U70100MH1994PTC084037	MARATHON REALTY PRIVATE LIMITED	30/09/2013	-
U29110MH1995PTC086069	COLUMBIA CHROME (INDIA) PRIVATE LIMITED	23/07/2004	-
U70102MH2008PTC182858	MATRIX LAND HUB PRIVATE LIMITED	30/05/2008	-
U74999MH1995PTC086748	PARMEKA PRIVATE LIMITED	30/12/2006	-
U45200MH2008PTC182632	NEXTGEN LAND PRIVATE LIMITED	23/05/2008	-
U67100MH2008PTC182753	MARATHON FISCAL PRIVATE LIMITED	28/05/2008	-
U70102MH2000PTC126999	RARE TOWNSHIPS PRIVATE LIMITED	02/11/2012	-
U45201MH2008PTC182732	MARATHON NEXZONE INFRASTRCTURES PRIVATE LIMITED	27/05/2008	-
U45200MH2006PTC160346	MARATHON PANVEL INFRASTRUCTURES PRIVATE LIMITED	08/03/2006	-
LLPIN/FLLPIN	LLP Name	Begin Date	End Date
AAA-0196	MARATHON CONSTRUCTION LLP	14/09/2009	-
AAA-2794	MARATHON BUILDCON LLP	15/11/2010	-
AAA-2904	MATRIX GREEN HOUSING AND COMMERCIAL DEVELOPERS LLP	25/11/2010	-
AAA-6241	MATRIX SALVAGE MANAGEMENT LLP	13/09/2011	-
AAA-6242	MATRIX H2O MANAGEMENT LLP	13/09/2011	-
AAA-6171	MARATHON ENER-GEN LLP	07/09/2011	-
AAA-6168	NEXZONE ENERGY UTILITIES LLP	07/09/2011	-

Name :

Mrs. Kaivalya Chetan Shah

Designation :

Designated Partner

Address :

R.No.1, Ground Floor, Kailash Bunglow Bhd. Garden, Devidayal Road, Mulund (West), Mumbai-400080, Maharashtra, India

Date of Birth/ Age:

09.02.1987

Date of Appointment :

07.09.2011

PAN No.:

CUMPS7436N

DPIN No.:

03262973

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U74140MH1983PTC029425	CORNELL HOUSING AND INFRASTRUCTURE PRIVATE LIMITED	30/09/2016	-
U45202MH2008PTC183011	MARATHON HOUSING PRIVATE LIMITED	26/09/2015	-
U72900MH2001PTC134219	TERRAPOLIS STRUCTURES PRIVATE LIMITED	07/10/2010	-
U41000MH2007PTC172710	NEXTGEN CITY WATER MANAGEMENT PRIVATE LIMITED	28/09/2015	-
U40102MH2007PTC172714	MATRIX ENCLAVES PROJECTS DEVELOPMENTS PRIVATE LIMITED	29/09/2016	-
U45201MH2008PTC182732	MARATHON NEXZONE INFRASTRCTURES PRIVATE LIMITED	29/09/2016	-
U41000MH2007PTC172712	NEXZONE WATER MANAGEMENT PRIVATE LIMITED	26/09/2015	-
U63010MH2007PTC172716	NEXTGEN CITY CONTAINER DEPOT PRIVATE LIMITED	28/09/2015	-
U45200MH2008PTC182636	MARATHON NEXZONE LAND PRIVATE LIMITED	26/09/2015	-
U40102MH2007PTC172717	NEXTGEN CITY UTILITIES PRIVATE LIMITED	28/09/2015	-
U45200MH2008PTC182632	NEXTGEN LAND PRIVATE LIMITED	29/09/2016	-
U40102MH2007PTC172713	MARATHON ENERGY PRIVATE LIMITED	26/09/2015	-
U40101MH2007PTC172709	NEXTGEN CITY ENERGY PRIVATE LIMITED	28/09/2015	-
U70102MH2008PTC182858	MATRIX LAND HUB PRIVATE LIMITED	01/01/2016	-
U74140MH2007PTC172711	NEXZONE IT INFRASTRUCTURE PRIVATE LIMITED	30/09/2015	-
U70102MH2008PTC188599	KANCHI REHAB PRIVATE LIMITED	26/09/2015	-
U45203MH2008PTC183871	MARATHON NEXTGEN TOWNSHIPS PRIVATE LIMITED	26/09/2015	-
U74140MH2008PTC184581	MARATHON VENTURES PRIVATE LIMITED	30/09/2016	-
AAA-4701	SHRI MEWAD KESARI STRUCTURES LLP	03/05/2011	27/07/2012
AAA-5584	TRIDENT OZONE LLP	15/07/2011	-
AAA-6171	MARATHON ENER-GEN LLP	07/09/2011	-
AAA-6168	NEXZONE ENERGY UTILITIES LLP	07/09/2011	-
AAE-8819	IXOXI EQUIP-HIRE LLP	08/10/2015	25/02/2016
AAF-1327	IXOXI CONSTRUCTION LLP	05/11/2015	25/02/2016
AAF-2060	IXOXI HR SERVICES LLP	23/11/2015	25/02/2016
AAF-2469	IXOXI MATERIALS SUPPLY LLP	30/11/2015	25/02/2016
AAG-9203	MAKANAKA EDUCATION LLP	15/07/2016	-
AAH-1178	MANSIK EDUCATION LLP	09/08/2016	-

CONTRIBUTION DETAILS

As on 2017

Names of Person		Capital Contribution (INR in Million)
Kaivalya Chetan Shah		6.500
Mayur Ramniklal Shah		6.500
Total		13.000

BUSINESS DETAILS

Line of Business :	To carry on the business of real estate (Registered Activity)

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Divulged

Bankers :

Banker Name :	Not Divulged
Branch :	--
Person Name (With Designation) :
Contact Number :
Name of Account Holder :
Account Number :
Account Since (Date/Year of Account Opening) :
Average Balance Maintained :
Credit Facilities Enjoyed (CC/OD/Term Loan) :
Account Operation :
Remark :

Auditors :
Name :	Dinesh Ganpat Pai Chartered Accountant
Address :	402, Marathon Chambers, P K Road, Panch Rasta, Mulund (West), Mumbai – 400080, Maharashtra, India
Email :	d_gpai@hotmail.com
Membership No.:	036669

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

AS ON 31.03.2017

Total Obligation Fund:

INR 13.000 million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017	31.03.2016	31.03.2015
EQUITY AND LIABILITIES
1] Contribution received		13.000	3.700	3.700
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		(0.223)	(0.107)	(0.077)
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		12.777	3.593	3.623
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		14.210	18.636	16.815
TOTAL BORROWING		14.210	18.636	16.815
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		26.987	22.229	20.438

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		0.029	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	49.069	23.996	20.211
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	3.269	0.198	0.246
	Other Current Assets	2.724	0.000	0.000
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		55.062	24.194	20.457
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.167	0.042	0.017
	Other Current Liabilities	26.937	1.923	0.002
	Provisions	0.000	0.000	0.000
Total Current Liabilities		28.104	1.965	0.019
Net Current Assets		26.958	22.229	20.438

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		26.987	22.229	20.438

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	0.000	0.000	0.000
	Other Income	0.168	0.000	0.000
	TOTAL	0.168	0.000	0.000

Less	EXPENSES
	Raw material consumed	21.227	1.291	0.394
	Increase/(decrease) in stocks [including for raw materials, work in progress and finished goods]	(25.073)	(3.785)	(0.411)
	Administrative expenses	0.282	0.030	0.012
	TOTAL	(3.564)	(2.464)	(0.005)

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	3.732	2.464	0.005

Less	INTEREST	3.846	2.494	0.017

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(0.114)	(0.030)	(0.012)

Less/ Add	DEPRECIATION/ AMORTISATION	0.002	0.000	0.000

	PROFIT/ (LOSS) BEFORE TAX	(0.116)	(0.030)	(0.012)

Less	TAX	0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX	(0.116)	(0.030)	(0.012)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	0.00	0.00	0.00

Account Receivables Turnover (Income / Sundry Debtors)	0.00	0.00	0.00

Average Payment Days (Sundry Creditors / Purchases * 365 Days)	20.07	11.87	15.75

Inventory Turnover (Operating Income / Inventories)	0.08	0.10	0.00

Asset Turnover (Operating Income / Net Fixed Assets)	128.69	0.00	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.77	0.85	0.82

Debt Equity Ratio (Total Liability / Networth)	1.11	5.19	4.64

Current Liabilities to Networth (Current Liabilities / Net Worth)	3.31	5.73	4.65

Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00	0.00	0.00

Interest Coverage Ratio (PBIT / Financial Charges)	0.97	0.99	0.29

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.00	0.00	0.00

Return on Total Assets ((PAT / Total Assets) * 100)	%	(0.21)	(0.12)	(0.06)

Return on Investment (ROI) ((PAT / Networth) * 100)	%	(0.91)	(0.83)	(0.33)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.30	1.17	1.22

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.14	0.01	0.01

G-Score Ratio Financial (Networth / Total Assets)	0.23	0.15	0.18

G-Score Ratio Debt (Debts / Equity Capital)	1.09	5.04	4.54

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.30	1.17	1.22

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Partners’ Capital	3.700	3.700	13.000
Reserves & Surplus	(0.077)	(0.107)	(0.223)
Net worth	3.623	3.593	12.777

Secured Loans	0.000	0.000	0.000
Unsecured Loans	16.815	18.636	14.210
Total borrowings	16.815	18.636	14.210
Debt/Equity ratio	4.641	5.187	1.112

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	No
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	Yes
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	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	Yes
29	Profitability for last three years	Yes
30	Major shareholders, if available	No
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: NO CHARGES EXISTS FOR LLP

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	INR
US Dollar	1	INR 64.94
UK Pound	1	INR 91.75
Euro	1	INR 79.90

INFORMATION DETAILS

Information Gathered by :	PNM

Analysis Done by :	NIY

Report Prepared by :	JYTK

SCORE FACTORS

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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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

49.069

23.996

20.211

0.000

0.000

0.000

3.269

0.198

0.246

2.724

0.000

0.000

0.000

0.000

0.000

55.062

24.194

20.457

1.167

0.042

0.017

26.937

1.923

0.002

0.000

0.000

0.000

28.104

1.965

0.019

26.958

22.229

20.438

22.229

20.438

Unit