MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	492378
Report Date :	19.02.2018

IDENTIFICATION DETAILS

Name :	GOENKA REALTORS PRIVATE LIMITED (w.e.f. 14.06.2017)

Formerly Known As :	KUMKUM INFRASTRUCTURE PRIVATE LIMITED

Registered Office :	7B (1)-IT Chambers, 7th Floor, Mani Square, 164/1, Maniktala Main Road, EM Bypass, Kolkata – 700054, West Bengal
Tel. No.:	91-33-40441116

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	16.08.2012

Com. Reg. No.:	21-184750

Capital Investment / Paid-up Capital :	INR 0.100 Million

CIN No.: [Company Identification No.]	U70109WB2012PTC184750

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

GSTN : [Goods & Service Tax Registration No.]	19AASCS1352A1ZE

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AASCS1352A

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the business of real estate and is the co-owner of the property. (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
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Yet to commence its business operation

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject was incorporated in the year 2012 and it has not started its commercial activity since its inception. It is engaged in real estate activities. As per available financials of March 2017, the company has earned other income which has resulted into profit. The rating reflects moderate financial risk profile marked by modest networth base along with high debt level. Business is active. Payments are reported to unknown. In view of aforesaid, the company can be considered for business dealings with fully safe and secured 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

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 31-03-2016.

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 19.02.2018

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 :	Mr. Chetan
Designation :	Account Department
Contact No.:	91-33-40441116
Date :	17.02.2018

LOCATIONS

Registered Office :	7B (1)-IT Chambers, 7th Floor, Mani Square, 164/1, Maniktala Main Road, EM Bypass, Kolkata – 700054, West Bengal, India
Tel. No.:	91-33-40441116
Fax No.:	Not Available
E-Mail :	goenkarealtors@gmail.com
Website :	http://goenkainc.com

Branch Address 1 :	1st Floor, Ashoka Vault, Building, 379, Jawaharlal Nehru Road, Sitabuldi, Nagpur – 440012, Maharashtra, India
E-Mail :	info@goenkainc.com

Branch Address 2 :	Billabong High International School, Main Road No 27, Wagle Industrial Estate Thane - West, Thane – 400604, Maharashtra, India
Tel. No.:	91-22-43407100
Fax No.:	91-22-43407101

Branch Address 3 :	15, S P Mukherjee Road, 3^rd Floor, Kolkata – 700025, West Bengal, India

DIRECTORS

As on 31.03.2017

Name :

Ms. Priyanka Shashank Goenka

Designation :

Additional Director

Address :

2D, Queens Park, Kolkata-700019, West Bengal, India

Date of Appointment :

31.10.2016

DIN No:

00452253

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U55205WB2017PTC221327	P.GEE CAKES & DESSERTS PRIVATE LIMITED	02/06/2017	-
U51109WB2006PTC109843	SURFACE VINIMAY PRIVATE LIMITED	27/12/2006	-
U17299WB1961PTC042848	QUEEN'S PARK ESTATES PRIVATE LIMITED	20/02/2004	-
U70101WB1988PTC043889	SURABHI PROPERTIES PVT LTD	01/11/2002	-
U45201WB1997PTC083755	MANIDIPA VINIYOG PRIVATE LIMITED	01/11/2002	-
U70102WB2013PTC198448	PROLIFIC SKYSCRAPER PRIVATE LIMITED	19/11/2013	-
U70102WB2013PTC197968	SCINTILLATING REALTORS PRIVATE LIMITED	15/10/2013	-
U70102WB2013PTC197966	SCINTILLATING HIRISE PRIVATE LIMITED	15/10/2013	-
U70102WB2013PTC197387	AMOGH HIRISE PRIVATE LIMITED	27/09/2014	-
U70102WB2012PTC186323	SURADHANI REAL ESTATES PRIVATE LIMITED	24/09/2012	-
U01403WB2012PTC184141	KSHETRAJIVI AGRO PRIVATE LIMITED	30/09/2017	-
U70109WB2012PTC184851	SURYADRIPTI PROPERTIES PRIVATE LIMITED	30/09/2017	-
U70109WB2012PTC184853	PRITHIWIRAJ REAL ESTATES PRIVATE LIMITED	20/02/2017	-
U51909WB2011PTC160477	GOLDMOON DEALERS PRIVATE LIMITED	30/09/2017	-

LLPIN/FLLPIN	LLP Name	Begin Date	End Date
AAL-0829	IRSHITA REALTORS LLP	09/11/2017	-
AAL-0997	LURRAK DEVELOPER LLP	10/11/2017	-
AAL-0993	READIREALTY PROJECTS LLP	10/11/2017	-
AAL-1074	DECENT INFRASPACE LLP	12/11/2017	-
AAL-1075	EQUITY INFRASPACE LLP	12/11/2017	-
AAL-1076	GRACE INFRASPACE LLP	12/11/2017	-
AAL-1077	MONICA INFRASPACE LLP	12/11/2017	-
AAL-1078	TRUTHFUL SPACE LLP	12/11/2017	-
AAL-1079	WORTH INFRASPACE LLP	12/11/2017	-
AAL-1216	ASIMA CONSTRUCTION AND CREATION LLP	13/11/2017	-
AAL-1386	SPYG REALTY LLP	14/11/2017	-
AAL-3574	YUDHAV REALTORS LLP	11/12/2017	-

Name :

Mr. Goenka Shashank Sudhir

Designation :

Director

Address :

Flat No-12, 3rd Floor, Maheshwari Niketan Peddar Road, Near Jaslok Hospital, Cumba Lla Hill, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

08.09.1984

Date of Appointment :

16.08.2012

DIN No:

03201935

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51900MH1984PLC033393	CPG ACADEMIC SERVICES LIMITED	10/01/2012	-
U45400MH2009PLC193373	CPG INFRA LIMITED	29/02/2012	-
U74999WB2012PTC179888	ENDIVE VANIJYA PRIVATE LIMITED	30/09/2017	-
U70109WB2012PTC184851	SURYADRIPTI PROPERTIES PRIVATE LIMITED	30/09/2017	-
U01403WB2012PTC184141	KSHETRAJIVI AGRO PRIVATE LIMITED	30/09/2017	-
U70109WB2012PTC185183	RITURAAJ BUILDERS PRIVATE LIMITED	30/09/2017	-
U70102WB2012PTC186323	SURADHANI REAL ESTATES PRIVATE LIMITED	30/09/2017	-
U80904MH2012NPL237195	C.P.GOENKA ACADEMIC FOUNDATION	25/10/2012	-
U70102WB2013PTC197387	AMOGH HIRISE PRIVATE LIMITED	20/09/2013	-
U70102WB2013PTC197390	TENACIOUS CONSTRUCTION PRIVATE LIMITED	20/09/2013	-
U70102WB2013PTC197389	CHALET CONSTRUCTION PRIVATE LIMITED	20/09/2013	-
U70102WB2013PTC197388	AMOGH SKYSCRAPER PRIVATE LIMITED	20/09/2013	-
U70102WB2013PTC198017	TENACIOUS PROPERTIES PRIVATE LIMITED	21/10/2013	-
U01100WB2013PTC198314	GOENKA FLORICULTURE PRIVATE LIMITED	12/11/2013	-
U55205WB2017PTC221327	P.GEE CAKES & DESSERTS PRIVATE LIMITED	02/06/2017	-

LLPIN/FLLPIN	LLP Name	Begin Date	End Date
AAK-8801	SURITA CHATTELS LLP	16/10/2017	-
AAL-0830	BAMBINO CONSTRUCTION LLP	09/11/2017	-
AAL-0992	KGSG BUILDERS LLP	10/11/2017	-
AAL-0989	AMORPHOUS BUILDER LLP	10/11/2017	-
AAL-0996	SAND AND SUN REALTORS LLP	10/11/2017	-
AAL-1002	ULTRABUILD PROJECTS LLP	10/11/2017	-
AAL-1074	DECENT INFRASPACE LLP	12/11/2017	-
AAL-1075	EQUITY INFRASPACE LLP	12/11/2017	-
AAL-1076	GRACE INFRASPACE LLP	12/11/2017	-
AAL-1077	MONICA INFRASPACE LLP	12/11/2017	-
AAL-1078	TRUTHFUL SPACE LLP	12/11/2017	-
AAL-1079	WORTH INFRASPACE LLP	12/11/2017	-
AAL-2288	SAUGUS REAL ESTATE DEVELOPERS LLP	22/11/2017	-

KEY EXECUTIVES

Name :	Mr. Chetan
Designation :	Account Department

MAJOR SHAREHOLDERS

As on 31.03.2017

Names of Shareholders	No. of Shares	% of Holding
Shashank Goenka	6000	60.00
Drishtinandan Developers Private Limited, India	1800	18.00
Kshetrajivi Agro Private Limited, India	1500	15.00
Goldmoon Dealers private Limited, India	700	7.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2017

Category	Percentage
Promoters (Individual/Hindu Undivided Family – Indian)	60.00
Promoters (Body corporate)	40.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of real estate and is the co-owner of the property. (Registered Activity)

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 :	--
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 :	HDFC Bank Limited
Branch :	Not Divulged
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 :	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Term loans from HDFC Bank	55.355	0.000
Auto Loan from Bank	0.660	0.000
Total	56.015	0.000

Financial institutions:	Housing Development Finance Corporation Limited, Ramon House, 169, Backbay Reclamation, H T Parekh Marg, Mumbai-400020, Maharashtra, India

Auditors :
Name :	S. Jaykishan Chartered Accountant
Address :	Suite No. 2D, 2E & 2F, 2nd Floor, 12, Ho Chi Minh Sarani, Kolkata – 700071, West Bengal, India
Tel. No.:	91-33-4035801
Fax No.:	91-40035832
E-Mail :	info@sjaykishan.com
Income-tax PAN of auditor or auditor's firm :	AASFS4445F
Memberships No:	160694

Memberships :	Not Available

Collaborators :	Not Available

Associates:	Banke Bihari Enclave Private Limited Drishtinandan Developers Private Limited Endive Vanijya Private Limited Goldmoon Dealers Private Limited Kshetrajivi Agro Private Limited Prithiwiraj Real Estates Private Limited Rapid Housing Solutions LLP Rituraaj Builders Private Limited Suradhani Real Estates Private Limited Suryadripti Properties Private Limited

Entities in which KMP of relative has significant influence:	CPG Infra Limited

CAPITAL STRUCTURE

As on: 30.09.2017

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

10000	Equity Shares	INR 10/- each	INR 0.100 Million

FINANCIAL DATA

[all figures are 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	0.100	0.100	0.100
(b) Reserves & Surplus	0.030	(0.093)	(0.052)
(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)	0.130	0.007	0.048

(3) Non-Current Liabilities
(a) long-term borrowings	56.015	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	0.000	0.000	0.000
Total Non-current Liabilities (3)	56.015	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	0.529	27.732	3.002
(b) Trade payables	8.026	0.723	0.000
(c) Other current liabilities	0.023	0.000	0.000
(d) Short-term provisions	14.553	6.082	9.071
Total Current Liabilities (4)	23.131	34.537	12.073

TOTAL	79.276	34.544	12.121

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.017	0.304	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	0.020
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.635	0.328	0.000
(e) Other Non-current assets	0.035	0.020	0.000
Total Non-Current Assets	4.687	0.652	0.020

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	24.422	14.509	11.988
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	7.739	1.777	0.014
(e) Short-term loans and advances	42.428	17.606	0.099
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	74.589	33.892	12.101

TOTAL	79.276	34.544	12.121

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	0.273	0.000	0.000
	Other Income	0.000	0.000	0.000
	TOTAL	0.273	0.000	0.000

Less	EXPENSES
	Other expenses	0.109	0.035	0.009
	TOTAL	0.109	0.035	0.009

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.164	(0.035)	(0.009)

Less	FINANCIAL EXPENSES	0.000	0.000	0.000

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.164	(0.035)	(0.009)

Less/ Add	DEPRECIATION/ AMORTISATION	0.042	0.006	0.000

	PROFIT/ (LOSS) BEFORE TAX	0.122	(0.041)	(0.009)

Less	TAX	0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX	0.122	(0.041)	(0.009)

	Earnings / (Loss) Per Share (INR)	12.25	(4.06)	(1.04)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	0.368	0.000	0.000
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	NA	NA	NA
Net cash flows from (used in) operating activity	NA	NA	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Inventory Turnover (Operating Income / Inventories)	0.01	0.00	0.00

Asset Turnover (Operating Income / Net Fixed Assets)	0.04	(0.12)	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	1.00	1.00	1.00

Debt Equity Ratio (Total Liability / Networth)	437.78	3961.71	62.54

Current Liabilities to Networth (Current Liabilities / Net Worth)	177.93	4933.86	251.52

Fixed Assets to Networth (Net Fixed Assets / Networth)	30.90	43.43	0.00

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)	%	44.69	0.00	0.00

Return on Total Assets ((PAT / Total Assets) * 100)	%	0.15	(0.12)	(0.07)

Return on Investment (ROI) ((PAT / Networth) * 100)	%	93.85	(585.71)	(18.75)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	3.22	0.98	1.00

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	2.17	0.56	0.01

G-Score Ratio Financial (Networth / Total Assets)	0.00	0.00	0.00

G-Score Ratio Debt (Debts / Equity Capital)	569.12	277.32	30.02

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	3.22	0.98	1.00

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	0.100	0.100	0.100
Reserves & Surplus	(0.052)	(0.093)	0.030
Net worth	0.048	0.007	0.130

long-term borrowings	0.000	0.000	56.015
Short term borrowings	3.002	27.732	0.529
Current maturities of long-term debts	0.000	0.000	0.368
Total borrowings	3.002	27.732	56.912
Debt/Equity ratio	62.542	3961.714	437.785

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

UNSECURED LOAN

PARTICULARS	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Short-term borrowings
Loan from Director	0.502	16.109
Loan from a related party	0.027	11.623
Total	0.529	27.732

INDEX OF CHARGES:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G18007062	100056699	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	27/09/2016	-	-	250000000.0	RAMON HOUSE, 169, BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI-400020, MAHARASHTRA, INDIA

FIXED ASSETS

Computer
Office Equipment
Furniture and Fixture
Plant and machinery
Motor Vehicle

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 records 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 63.91
UK Pound	1	INR 90.31
Euro	1	INR 80.17

INFORMATION DETAILS

Information Gathered by :	SPY

Analysis Done by :	NSG

Report Prepared by :	MTN

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)

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