MIRA INFORM REPORT

Report No. :	504261
Report Date :	21.04.2018

IDENTIFICATION DETAILS

Name :	HEATHERGREY COLLECTIVE LLP
Registered Office :	201, Peninsula Tower 1, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel (West), Mumbai – 400013, Maharashtra
Tel. No.:	91-22-40881143
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	16.02.2017
Total Obligation of Contribution :	INR 1.000 Million
LLPIN No.:	AAI-5881
IEC No.: [Import-Export Code 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.]	Not Available
Legal Form :	Limited Liability Partnership
Line of Business :	To carry on the business of Supply of Various Ready Made Apparel- Uniforms, Textile and Disposable items. [Registered Activity] Trader and exporter of clothes like uniforms, linens, loft asia, essentials and decoratives and importer of raw material. [Confirmed by management]
No. of Employees :	60 (Approximately)

RATING & COMMENTS

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

MIRA’s Rating :

NB

Credit Rating	Explanation	Rating Comments
NB	New Business	No recommendation can be done due to business in infancy stage

Maximum Credit Limit :	USD 2800
Status :	New Business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject was established on 16^th February 2017. It is a trader and exporter of clothes like uniforms, linens etc. The subject has not earned income from its operations during the year under the review. The overall financial position of the subject seems to be moderate marked by negative reserve base. No payment terms are known. In the view of subject’s infancy, dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

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 31-03-2018.

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 21.04.2018

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Nair
Designation :	Export Manager
Contact No.:	91-22-40881143
Date :	18.04.2018

LOCATIONS

Registered Office :	201, Peninsula Tower 1, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India
Tel. No.:	91-22-40881143 / 40881111
Fax No.:	Not Available
E-Mail :	finance@heathergreycollective.com
Website :	http://www.heathergreycollective.com
Location :	Owned
Locality :	Commercial
Warehouse :	Located at: Umbergaon, Gujarat, India

PARTNERS

AS ON 31.03.2018

Name :	Mr. Sanjay Shyam Kedia
Designation :	Designated Partner
Address :	B-4401, Lodha Bellissimo, NM Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India
Date of Birth/Age :	10.05.1967
Date of Appointment :	16.02.2017
DIN No.:	00634292
Name :	Meghna Sanjay Kedia
Designation :	Designated Partner
Address :	B-4401, Lodha Bellissimo, NM Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India
Date of Birth/Age :	27.05.1972
Date of Appointment :	16.02.2017
DIN No.:	00634341

KEY EXECUTIVES

Name :	Mr. Nair
Designation :	Export Manager

OBLIGATION DETAILS

Name of Persons	Amount in Million
Sanjay Shyam Kedia	0.500
Meghna Sanjay Kedia	0.500
Total	1.000

BUSINESS DETAILS

Line of Business :	To carry on the business of Supply of Various Ready Made Apparel- Uniforms, Textile and Disposable items. [Registered Activity] Trader and exporter of clothes like uniforms, linens, loft asia, essentials and decoratives and importer of raw material. [Confirmed by management]
Products / Services :	Ready Made Apparel- Uniforms Textile Disposable items
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Germany USA UK
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Advance Payment, Cheque and Others (RTGS)
Purchasing :	Advance Payment, Cheque and Others (RTGS)

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers :

Wholesalers, End Users

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

No. of Employees :

60 (Approximately)

Bankers :

Banker Name :	Axis Bank Limited
Branch :	"Trishul', 3rd Floor, Opposite to Samartheshwar Temple Law Garden, Ellis Bridge, Ahmedabad – 380006, Gujarat, India
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 :	Not Divulged
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 31.03.2017

Total obligation of contribution: INR 1.000 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
EQUITY AND LIABILITIES
1] Partners Fixed Capital		1.000
2] Share Application Money		0.000
3] Reserves & Surplus		(0.014)
4] (Accumulated Losses)		0.000
NETWORTH		0.986
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.986
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	1.000
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		1.000
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.014
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.014
Net Current Assets		0.986
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.986

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017
	SALES
		Income	0.000
		Other Income	0.000
		TOTAL	0.000
Less	EXPENSES
		Administrative and Other Expenses	0.014
		TOTAL	0.014
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.014)
Less	FINANCIAL EXPENSES		0.000
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.014)
Less	DEPRECIATION/ AMORTISATION		0.000
	PROFIT/(LOSS) BEFORE TAX		(0.014)
Less	TAX		0.000
	PROFIT/(LOSS) AFTER TAX		(0.014)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017
Current Maturities of Long term debt	NA
Cash generated from operations	NA
Net cash flow from (used in) operations	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	0.00
Account Receivables Turnover (Income / Sundry Debtors)	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00
Inventory Turnover (Operating Income / Inventories)	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.01
Debt Equity Ratio (Total Liability / Networth)	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.01
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00
Interest Coverage Ratio (PBIT / Financial Charges)	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
PAT to Sales ((PAT / Sales) * 100)	%	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	(1.40)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(1.42)

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	71.43
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	71.43
G-Score Ratio Financial (Networth / Total Assets)	0.99
G-Score Ratio Debt (Debts / Equity Capital)	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	71.43

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

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	Yes
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)	Yes
16	No. of employees	Yes
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 one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one year	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES:

S No	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	M06191837	100157941	Axis Bank Limited	31/01/2018	-	-	235000000.0	"Trishul', 3rd Floor, Opposite To Samartheshwar Temple Law Garden, Ellis Bridge Ahmedabad Gujarat 380006 India

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 65.68
UK Pound	1	INR 93.98
Euro	1	INR 81.30

INFORMATION DETAILS

Information Gathered by :	ARC
Analysis Done by :	NYT
Report Prepared by :	NKT

SCORE FACTORS

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

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.