MIRA INFORM REPORT

Report No. :	484191
Report Date :	05.01.2018

IDENTIFICATION DETAILS

Name :	SEVEN SEAZ VACATIONS PRIVATE LIMITED
Registered Office :	31, Bhagat Singh Market, Near Gole Market, New Delhi - 110001
Tel. No.:	Not Available
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	13.10.2008
Com. Reg. No.:	55-184184
Capital Investment / Paid-up Capital :	INR 0.500 Million
CIN No.: [Company Identification No.]	U63040DL2008PTC184184
IEC No.:	Not Available
TIN No.:	Not Available
GST No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAMCS4575K
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged into activities of Travel Agents and Tour Operator. [Registered Activity]
No. of Employees :	Not Available

RATING & COMMENTS

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

MIRA’s Rating :

B

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

Maximum Credit Limit :	USD 11000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was incorporated in the year 2008. It is engaged in providing travel and tourism services. For the financial year 2017, the company has achieved massive growth as compared to the previous year along with an average profit margin 2.29%. Rating takes into consideration the subject’s healthy Earnings Per Share of INR 287.99 against the Face Value of INR 10. Rating gets constrained on account of the moderate financial risk profile of the company marked by average net worth base along with poor debt coverage indicators due to high debt balance sheet profile. Payments are reported to be slow. In view of aforesaid, the company can be considered for business dealings with 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	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 05.01.2018

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.

LOCATIONS

Registered Office :	31, Bhagat Singh Market, Near Gole Market, New Delhi - 110001, India
Tel. No.:	91-11-47677777/ 48444444
Fax No.:	Not Available
E-Mail :	ca.mahendra@gmail.com info@flywidus.com
Website:	www.flywidus.com
Head Office:	H-5, 1st Floor, South Extension Part-I, New Delhi - 110049, India

DIRECTORS

AS ON: 31.03.2017

Name :

Mr. Vikas Jain

Designation :

Director

Address :

B-16/F2, Dilshad Garden, Delhi - 110095, India

Date of Birth /Age:

19.11.1975

Date of Appointment :

13.10.2008

DIN No.:

00165704

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U63090DL2006PTC156511	ANTARES HOLIDAYS PRIVATE LIMITED	13/12/2006	-

Name :

Mrs. Guneet Sethi

Designation :

Director

Address :

31, Bhagat Singh Market, Near Gole Market, New Delhi - 110001, India

Date of Birth /Age:

19.03.1982

Date of Appointment :

13.10.2008

DIN No.:

02343143

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2017

Names of Shareholders	No. of Shares	% age holding
Guneet Sethi	25000	50.00
Vikas Jain	25000	50.00
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 :

Subject is engaged into activities of Travel Agents and Tour Operator. [Registered Activity]

Products :

ITC Code No.	Product Descriptions
99855400	Tour and Travel Operator

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Not Available

Purchasing :

Not Available

PRODUCTION STATUS: (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

· Kotak Mahindra Bank Limited

27, BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2017 (INR In Million)	31.03.2016 (INR In Million)
LONG-TERM BORROWINGS
Loan against property - HOB financial services	10.735	10.825
SHORT TERM BORROWINGS
Kotak Mahindra bank a/c OD	0.000	4.703
HDFC Bank OD (50200017294979)	2.477	1.338
Kotak Mahindra New OD-6611819345	8.500	0.000
Loan against property - HDB financial services	3.099	2.665
Total	24.811	19.531

Auditors :
Name :	M.T.M. and Associates Chartered Accountants
Address :	F-25/73, Sector-7, Rohini, New Delhi - 110085, India
Tel. No.:	91-11-47531947
Income-tax PAN of auditor or auditor's firm :	AALFM5848H
Memberships :	Not Available
Collaborators :	Not Available
Entities over which key management personnel or their relatives exercise significant influence. :	Flywidus

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	3.498	0.618	0.465
(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)	3.998	1.118	0.965
(3) Non-Current Liabilities
(a) Long-term borrowings	10.735	10.825	5.780
(b) Deferred tax liabilities (Net)	0.027	0.147	0.237
(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)	10.762	10.972	6.017
(4) Current Liabilities
(a) Short term borrowings	14.076	8.706	3.187
(b) Trade payables	109.785	31.097	13.636
(c) Other current liabilities	38.994	31.958	11.730
(d) Short-term provisions	0.738	0.035	0.000
Total Current Liabilities (4)	163.593	71.796	28.553
TOTAL	178.353	83.886	35.535
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.039	2.788	2.589
(ii) Intangible Assets	1.300	1.191	0.870
(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	0.080	0.159	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.800	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	4.219	4.138	3.459
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.165
(c) Trade receivables	74.050	36.825	10.858
(d) Cash and cash equivalents	61.928	14.988	7.330
(e) Short-term loans and advances	11.840	12.466	6.980
(f) Other current assets	26.316	15.469	6.743
Total Current Assets	174.134	79.748	32.076
TOTAL	178.353	83.886	35.535

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Revenue from Operations	125.812	60.937	428.645
		Other Income	8.035	9.121	4.816
		TOTAL	133.847	70.058	433.461
Less	EXPENSES
		Purchases of Stock-in-Trade	18.201	17.906	409.202
		Employees benefits expense	11.731	8.317	7.200
		Other expenses	96.992	41.274	16.817
		TOTAL	126.924	67.497	433.219
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		6.923	2.561	0.242
Less	FINANCIAL EXPENSES		2.355	1.303	1.668
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		4.568	1.258	-1.426
Less/ Add	DEPRECIATION/ AMORTISATION		1.071	1.077	1.457
	PROFIT/(LOSS) BEFORE TAX		3.497	0.181	(2.883)
Less	TAX		0.617	(0.056)	(0.290)
	PROFIT/(LOSS) AFTER TAX		2.880	0.237	(2.593)
	Earnings Per Share (INR)		287.99	23.68	(259.26)

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/ (used in) operations	43.141	5.436	10.084
Net Cash flow from Operating Activities	43.106	5.436	9.670

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	214.83	220.57	9.25
Account Receivables Turnover (Income / Sundry Debtors)	1.70	1.65	39.48
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	2201.61	633.89	12.16
Inventory Turnover (Operating Income / Inventories)	0.00	0.00	1.47
Asset Turnover (Operating Income / Net Fixed Assets)	2.07	0.64	0.07

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.98	0.98	0.97
Debt Equity Ratio (Total Liability / Networth)	6.21	17.47	9.29
Current Liabilities to Networth (Current Liabilities / Net Worth)	40.92	64.22	29.59
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.84	3.56	3.58
Interest Coverage Ratio (PBIT / Financial Charges)	2.94	1.97	0.15

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	2.29	0.39	(0.60)
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.61	0.28	(7.30)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	72.04	21.20	(268.70)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.06	1.11	1.12
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.06	1.11	1.12
G-Score Ratio Financial (Networth / Total Assets)	0.02	0.01	0.03
G-Score Ratio Debt (Debts / Equity Capital)	49.62	39.06	17.93
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.06	1.11	1.12

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	0.465	0.618	3.498
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.965	1.118	3.998
long-term borrowings	5.780	10.825	10.735
Short term borrowings	3.187	8.706	14.076
Total borrowings	8.967	19.531	24.811
Debt/Equity ratio	9.292	17.470	6.206

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
Sales	428.645	60.937	125.812
		(85.784)	106.462

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	428.645	60.937	125.812
Profit	(2.593)	0.237	2.880
	(0.60%)	0.39%	2.29%

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	No
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	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

INDEX OF CHARGES

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G37416351	100080898	KOTAK MAHINDRA BANK LIMITED	25/02/2017	-	-	8500000.0	27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN
2	C82520289	10628049	KOTAK MAHINDRA BANK LIMITED	11/02/2016	-	-	5000000.0	27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN

FIXED ASSETS:

· Computers

· Mobile

· Generator

· Air Conditioner

· Water Purifier

· Furniture

· Car

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 63.39
UK Pound	1	INR 85.74
Euro	1	INR 76.25

INFORMATION DETAILS

Analysis Done by :	PRY
Report Prepared by :	ARC

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.