MIRA INFORM REPORT

Report No. :	503523
Report Date :	16.04.2018

IDENTIFICATION DETAILS

Name :	NAC EXIM (INDIA) PRIVATE LIMITED
Registered Office :	311, Appejay House, 114/A, Mumbai Saamachar Marg, Mumbai - 400023, Maharashtra
Mob. No.:	91-9820623227 [Mr. Sunil Jain]
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	29.12.2004
Com. Reg. No.:	11-150276
Capital Investment / Paid-up Capital :	INR 0.500 Million
CIN No.: [Company Identification No.]	U51310MH2004PTC150276
IEC No.: [Import-Export Code No.]	Not Divulged
TIN No.:	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCN0260C
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Yarn and Fabric. [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 :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject was incorporated in the year 2004 and it is engaged as trader of yarn and fabric. As per the financials of March 2017, the company has registered some pre-operating expenses and has reported losses. Rating takes into consideration the company’s accumulated previous year’s losses along with negative reserves and below average liquidity position. Payments terms seems to be unknown. In view of aforesaid, the subject can be considered for business dealings at fully 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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

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

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 31-03-2016.

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 16.04.2018.

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 DECLINED BY

Name :	Mr. Sunil Jain
Designation :	Director
Contact No.:	91-9820623227
Date :	14.04.2018

Given number [91-8600108130 - Mr. Rajneesh Srivastav] Switch off

Given Email [rajneesh@gmail.com] could not be confirmed

LOCATIONS

Registered Office :	311, Appejay House, 114/A, Mumbai Saamachar Marg, Mumbai - 400023, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9820623227 [Mr. Sunil Jain]
Fax No.:	Not Available
E-Mail :	shishiran75@gmail.com
Corporate Office:	102/103 1st Floor, Patil Plaza, Magarpatta- Kharadi, Pune - 411014, Maharashtra, India

DIRECTORS

AS ON: 31.03.2017

Name :	Mr. Laxmichand Chandmal Kothari
Designation :	Director
Address:	3, Akashdeep BLD, Doongarsea Road, Mumbai - 400006, Maharashtra, India
Date of Birth:	28.04.1932
Date of Appointment :	29.12.2004
DIN No.:	00862030
Name :	Mr. Monaal Jain
Designation :	Director
Address:	Akashdeep Doongersi Road, Malabar Hill, Mumbai 400006, Maharashtra, India
Date of Appointment :	30.04.2008
DIN No.:	01852749
Name :	Mr. Sunil Kumar Jain
Designation :	Director
Address:	F-14/24, 1st Floor, Model Town II, Delhi - 110009, India
Date of Appointment :	29.12.2004
DIN No.:	03581772

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 30.09.2017

Names of Shareholders	No. of Shares	% age holding
Laxmichand Chandmal Kothari	40000	80.00
Monaal Jain	10000	20.00
Total	50000	100.00

AS ON: 30.09.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters (Individual/Hindu Undivided Family - Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Yarn and Fabric. [Registered Activity]

Products :

ITC Code No.	Product Descriptions
99611319	Other Yarn & Fabric n.e.c.

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Kotak Mahindra Bank Limited
Branch:	Andheri (East), Mumbai, Maharashtra, India
Person Name (with Designation):	--
Contact Number:	91-22-66779201
Name of Account Holder:	EKIN INDIA PRIVATE LIMITED
Account Number:	0651222212914
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	Cash Credit
Account Operation:	--
Remarks:	Denied to provide information

Auditors :
Name :	Pradeep Gupta and Associates Chartered Accountants
Address :	06 2nd Floor Sarvoday Mall, Opp. APMC, Market Nr. Raheja Complex Kalyan West, Kalyan - 421301, Maharashtra, India
Tel. No.:	91-251-6511567
E-Mail :	pradeepg.prc@gmail.com
Income-tax PAN of auditor or auditor's firm :	ASSPG7639M
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	INR 10/- each	INR 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	INR 10/- each	INR 0.500 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500	0.500
(b) Reserves & Surplus	(0.340)	(0.182)	(0.112)
(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)	0.160	0.318	0.388
(3) Non-Current Liabilities
(a) Long-term borrowings	3.669	3.434	3.434
(b) Deferred tax liabilities (Net)	0.001	0.001	0.001
(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)	3.670	3.435	3.435
(4) Current Liabilities
(a) Short term borrowings	0.000	0.286	0.286
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.000	0.017	0.000
(d) Short-term provisions	0.010	0.063	0.083
Total Current Liabilities (4)	0.010	0.366	0.369
TOTAL	3.840	4.119	4.192
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.011	0.018	0.037
(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	0.187	0.187	0.187
(c) Deferred tax assets (net)	0.000	0.000	0.019
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.150	3.421	3.424
Total Non-Current Assets	0.348	3.626	3.667
(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	0.125	0.305	0.000
(e) Short-term loans and advances	0.000	0.000	0.335
(f) Other current assets	3.367	0.188	0.190
Total Current Assets	3.492	0.493	0.525
TOTAL	3.840	4.119	4.192

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Revenue from Operations	0.000	0.000	0.000
		Other Income	0.003	0.011	0.030
		TOTAL	0.003	0.011	0.030
Less	EXPENSES
		Employees benefits expense	0.000	0.000	0.042
		Other expenses	0.028	0.062	0.035
		TOTAL	0.028	0.062	0.077
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.025)	(0.051)	(0.047)
Less	FINANCIAL EXPENSES		0.000	0.000	0.000
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.025)	(0.051)	(0.047)
Less/ Add	DEPRECIATION/ AMORTISATION		0.006	0.005	0.006
	PROFIT/(LOSS) BEFORE TAX		(0.031)	(0.056)	(0.053)
Less	TAX		0.000	0.000	0.001
	PROFIT/(LOSS) AFTER TAX		(0.031)	(0.056)	(0.054)
	Earnings Per Share (INR)		(3.00)	(6.00)	(1.09)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
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

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)	0.00	0.00	0.00
Inventory Turnover (Operating Income / Inventories)	0.00	0.00	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	(2.27)	(2.27)	(2.27)

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.96	0.92	0.91
Debt Equity Ratio (Total Liability / Networth)	22.93	11.70	9.59
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.06	1.15	0.95
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.07	0.06	0.10
Interest Coverage Ratio (PBIT / Financial Charges)	0.00	0.00	0.00

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)	%	(0.81)	(1.36)	(1.29)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(19.38)	(17.61)	(13.92)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	349.20	1.35	1.42
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	349.20	1.35	1.42
G-Score Ratio Financial (Networth / Total Assets)	0.04	0.08	0.09
G-Score Ratio Debt (Debts / Equity Capital)	7.34	7.44	7.44
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	349.20	1.35	1.42

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	0.500	0.500	0.500
Reserves & Surplus	(0.112)	(0.182)	(0.340)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.388	0.318	0.160
long-term borrowings	3.434	3.434	3.669
Short term borrowings	0.286	0.286	0.000
Total borrowings	3.720	3.720	3.669
Debt/Equity ratio	9.588	11.698	22.931

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Total Income	0.030	0.011	0.003
		(63.333)	(72.727)

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Total Income	0.030	0.011	0.003
Profit/(Loss)	(0.054)	(0.056)	(0.031)
	(180.00%)	(509.09%)	(1033.33%)

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	No
21	Banking facility details	No
22	Conduct of the banking account	Yes
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: NO CHARGES EXISTS FOR COMPANY

UNSECURED LOANS

SECURED LOANS	31.03.2017 (INR In Million)	31.03.2016 (INR In Million)
LONG-TERM BORROWINGS
From Loans	3.669	0.000
From directors
Laxmichand C Kothari	0.000	0.349
From Others
Diakit Mouatapha	0.000	0.336
Teisuya Nakayama	0.000	1.326
Toshiyasu Nakana	0.000	1.423
SHORT TERM BORROWINGS		3.434
Loans and advances from related parties
Kamla Kothri	0.000	0.286
Total	3.669	3.720

OVERVIEW AND STATE OF AFFAIRS OF THE COMPANY

During the current year of operation, the company has incurred a loss of INR 0.031 million.

FIXED ASSETS:

· Air Conditioner

· Computer

· Equipment

· TV

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 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34

INFORMATION DETAILS

Information Gathered by :	SHK
Analysis Done by :	VIK
Report Prepared by :	ARC

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.