MIRA INFORM REPORT

Report No. :	484482
Report Date :	09.01.2018

IDENTIFICATION DETAILS

Name :	DEUTSCHE MOTOREN PRIVATE LIMITED (w.e.f.01.03.2006)
Formerly Known As :	A-ONE MOTORS PRIVATE LIMITED
Registered Office :	H-5/B-1, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi – 110044
Mobile No.:	91-9891075390 (Mr. Yadur Kapur)
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	29.12.1998
Com. Reg. No.:	55-097685
Capital Investment / Paid-up Capital :	INR 15.500 Million
CIN No.: [Company Identification No.]	U51502DL1998PTC097685
IEC No.:	Not Divulged
GSTIN/UIN:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCA4905H
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in Vehicles Spares and Accessories. (Registered Activity)
No. of Employees :	Information denied by the management

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 :	Slow and delayed
Litigation :	Clear
Comments :	Deutsche Motoren Private Limited was incorporated in the year 1998. Management has failed to file its financials with registrar of companies for the FY 2017. As per the available financial record of 2016, the company has achieved 10.14% growth in its revenue as compared to previous year revenue but has incurred operational loss. The moderate financial profile of the company is reflected by negative networth due to huge accumulated losses along with poor debt coverage indicators due to high debt balance sheet profile. Rating is constrained on account of absence of latest financials. Payments are reported to be slow and delayed. In view of aforesaid, the company can be considered for business dealings on fully and 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 (30.06.2017)	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

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 09.01.2018

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.

INFORMATION DENIED BY

Name :	Mr. Yadur Kapur
Designation :	Director
Contact No.:	91-9891075390
Date :	06.01.2018
Name :	Mr. Ashish Kapur
Designation :	Chief Executive Officer

LOCATIONS

Registered Office :	H-5/B-1, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi – 110044, India
Tel. No.:	Not Available
Mobile No.:	91-9891075390 (Mr. Yadur Kapur)
Fax No.:	Not Available
E-Mail :	praneet.sharma@bmw-deutschemotoren.in
Website :	www.bmw-deutschemotoren.in

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Suresh Jain

Designation :

Director

Address :

277, Pocket-D, Mayur Vihar, Phase-II, New Delhi – 110091, India

Date of Appointment :

01.04.2016

DIN No.:

00860480

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U74899DL1995PTC066397	ELEGANT SECURITIES PRIVATE LIMITED	15/03/1995	-
U34100DL2008PTC182278	ITALICA MOTORS PRIVATE LIMITED	27/10/2017	-

Name :

Mr. Yadur Kapur

Designation :

Director

Address :

A-2, Udyog Nagar, Industrial Estate, Rohtak Road, New Delhi – 110041, India

Date of Birth/Age :

19.06.1970

Date of Appointment :

22.12.2005

DIN No.:

00910820

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U50400DL2017PTC325946	DEUTSCHE CARS PRIVATE LIMITED	14/11/2017	-
U70100DL2011PTC224053	SAY REAL ESTATE PRIVATE LIMITED	24/08/2011	-
U70100DL2011PTC215499	ATEEYA ESTATES PRIVATE LIMITED	09/03/2011	-
U70100DL2010PTC212013	ARDEE ESTATE PRIVATE LIMITED	30/09/2015	-
U70102DL2011PTC212703	GOPAL DAS REALTY & INFRASTRUCTURE PRIVATE LIMITED	30/09/2015	-
U70109DL2010PTC212012	ARDEE ESTATE DEVELOPERS(DELHI) PRIVATE LIMITED	30/09/2015	-
U70101DL2011PTC212071	ARDEE REAL ESTATE & HOUSING PRIVATE LIMITED	30/09/2015	-
U45400DL2009PTC194822	MAY INFRASTRUCTURE PRIVATE LIMITED	01/10/2009	-
U34100DL2008PTC182278	ITALICA MOTORS PRIVATE LIMITED	21/08/2008	-
U55204DL2008PTC175434	INTERNATIONAL GLASHAUS PRIVATE LIMITED	17/03/2008	-
U51909DL2008PTC173300	SELECT CARS PRIVATE LIMITED	29/01/2008	-
U34103DL2005PTC139400	SUGOI MOTORS PRIVATE LIMITED	05/08/2005	-
U70101DL2002PTC116402	R M K ESTATES PRIVATE LIMITED	02/08/2002	-
U10101DL2000PTC108810	JHARKHAND COAL PRIVATE LIMITED	15/03/2004	-
U66000DL1998PTC095065	BYR INSURANCE BROKERS PRIVATE LIMITED	22/04/2008	-
U50500DL1997PTC087354	RING ROAD MOTORS PRIVATE LIMITED	19/05/1997	-
U70102DL1984PTC017673	HOOVER CONSTRUCTION PRIVATE LIMITED	30/09/2015	-
U70101DL1984PLC242880	KANOI PROJECTS LIMITED	06/05/2005	-

Name :

Mr. Deepak Jain

Designation :

Director

Address :

House No. 42, Savitry Enclave, Village Lohgarh Teh. Dera Bassi, District. S.A.S. Nagar, Dera Bassi – 140603, India

Date of Appointment :

01.04.2016

DIN No.:

03582642

KEY EXECUTIVES

Name :	Mr. Ashish Kapur
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS

AS ON 31.03.2016

Names of Shareholders	No. of Shares
RM kapur	1535690
Vijay kapur	9300
Rmk huf	5000
LM kapur	10
Total	1550000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2016

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	0.32
Promoters- Others	99.68
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading in Vehicles Spares and Accessories. (Registered Activity)

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
business of Sale and Service Income from vehicles spares and accessories	4530

Brand Names :

Not Available

Agencies Held :

BMW

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 :

Information denied by the management

Bankers :

Banker Name :	Standard Chartered Bank
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 :	--

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2016	As on 31.03.2015
LONG TERM BORROWING
Secured, Term Loans
- From Banks	550.703	172.455
- From Financial Institutions	0.000	403.008
SHORT TERM BORROWING
Secured, Loans payable on demand
From Banks	181.909	394.995
From Financial Institutions	0.000	131.813
From Financial Institutions	547.896	307.619
Total	1280.508	1409.890

Auditors :
Name :	Sanjeev Kapoor and Associates Chartered Accountant
Address :	D – 36, Flat No.3, South Extension Part 2, New Delhi – 110049, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAQPK7224B
Memberships :	Not Available
Collaborators :	Not Available
Enterprise under Control of Key Management Personnel:	Mirkana Engineering Private Limited Sugoi Motors Private Limited - [U34103DL2005PTC139400] Select Cars Private Limited - [U51909DL2008PTC173300] Italica Motors Private Limited - [U34100DL2008PTC182278] BAS Engineering Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
4950000	Equity Shares	INR 10/- each	INR 49.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1550000	Equity Shares	INR 10/- each	INR 15.500 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	15.500	15.500	15.500
(b) Reserves and Surplus	(16.152)	0.888	(5.756)
(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)	(0.652)	16.388	9.744
(3) Non-Current Liabilities
(a) long-term borrowings	775.903	728.963	843.461
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	10.800	10.800	0.000
(d) long-term provisions	7.355	7.879	6.648
Total Non-current Liabilities (3)	794.058	747.642	850.109
(4) Current Liabilities
(a) Short-term borrowings	729.805	834.427	825.703
(b) Trade payables	195.757	206.112	164.664
(c) Other current liabilities	243.159	288.853	140.964
(d) Short-term provisions	3.252	3.252	0.000
Total Current Liabilities (4)	1171.973	1332.644	1131.331
TOTAL	1965.379	2096.674	1991.184
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	784.328	831.876	877.260
(ii) Intangible Assets	0.421	0.719	0.907
(iii) Tangible assets capital work-in-progress	0.000	2.217	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	68.567	56.107	59.346
(d) Long-term loans and advances	18.248	18.248	17.805
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	871.564	909.167	955.318
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	622.716	862.183	640.656
(c) Trade receivables	171.461	119.719	181.890
(d) Cash and bank balances	75.187	44.864	145.828
(e) Short-term loans and advances	223.278	159.369	66.226
(f) Other current assets	1.173	1.372	1.266
Total Current Assets	1093.815	1187.507	1035.866
TOTAL	1965.379	2096.674	1991.184

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Total Revenue from operations	3517.890	3193.984	3590.256
	Other Income	17.467	22.624	28.949
	TOTAL	3535.357	3216.608	3619.205
Less	EXPENSES
	Cost of Materials Consumed	0.000	0.000	0.000
	Purchases of Stock-in-Trade	2859.029	2976.521	2808.457
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	239.468	(221.527)	371.594
	Employee benefit expense	123.351	97.141	110.023
	Other expenses	144.536	112.102	127.078
	TOTAL	3366.384	2964.237	3417.152
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	168.973	252.371	202.053
Less	FINANCIAL EXPENSES	139.214	170.549	182.731
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	29.759	81.822	19.322
Less/ Add	DEPRECIATION/ AMORTISATION	59.295	65.924	124.580
	PROFIT/ (LOSS) BEFORE TAX	(29.536)	15.898	(105.258)
Less	TAX	(12.460)	6.491	(34.098)
	PROFIT/ (LOSS) AFTER TAX	(17.076)	9.407	(71.160)
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	0.190	0.057	0.000
	Earnings / (Loss) Per Share (INR)	(11.017)	6.069	(45.910)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	48.458	76.690	40.088
Cash generated from operations	234.549	187.809	345.568
Net cash flows from (used in) operations	234.549	187.809	345.337

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	17.79	13.68	18.49
Account Receivables Turnover (Income / Sundry Debtors)	20.52	26.68	19.74
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	24.99	25.27	21.40
Inventory Turnover (Operating Income / Inventories)	0.27	0.29	0.32
Asset Turnover (Operating Income / Net Fixed Assets)	0.22	0.30	0.23

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	1.02	1.02	1.01
Debt Equity Ratio (Total Liability / Networth)	(2383.69)	100.08	175.42
Current Liabilities to Networth (Current Liabilities / Net Worth)	(1797.50)	81.32	116.11
Fixed Assets to Networth (Net Fixed Assets / Networth)	(1203.60)	50.94	90.12
Interest Coverage Ratio (PBIT / Financial Charges)	1.21	1.48	1.11

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin ((PAT / Sales) * 100)	%	(0.49)	0.29	(1.98)
Return on Total Assets ((PAT / Total Assets) * 100)	%	(0.87)	0.45	(3.57)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	2619.02	57.40	(730.30)

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	0.93	0.89	0.92
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.40	0.24	0.35
G-Score Ratio Financial (Networth / Total Assets)	0.00	0.01	0.00
G-Score Ratio Debt (Debts / Equity Capital)	100.27	105.81	110.27
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.93	0.89	0.92

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	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	15.500	15.500	15.500
Reserves & Surplus	(5.756)	0.888	(16.152)
Net worth	9.744	16.388	(0.652)
Long-term borrowings	843.461	728.963	775.903
Short term borrowings	825.703	834.427	729.805
Current maturities of long-term debts	40.088	76.690	48.458
Total borrowings	1709.252	1640.080	1554.166
Debt/Equity ratio	175.416	100.078	(2383.690)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	3590.256	3193.984	3517.890
	0.000	(11.037)	10.141

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	3590.256	3193.984	3517.890
Profit/ (Loss)	(71.160)	9.407	(17.076)
	(1.98 %)	0.29 %	(0.49 %)

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	No
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

Note: Registered office has been shifted from “A-19, Mohan Co-Opindustrial Estate, Mathura Road, Delhi – 110044, India” to the present address w.e.f.01.04.2006

STATE OF COMPANIES AFFAIR

The Company is engaged in the business of Sale and Service Income from vehicles spares and accessories. There has been no change in the business of the Company during the financial year ended 31st March, 2016

UNSECURED LOANS:

Particulars	31.03.2016 INR In Million	31.03.2015 INR In Million
LONG TERM BORROWINGS
Loans and advance from related parties
- From Director	165.200	153.500
From Shareholder	60.000	0.000
Total	225.200	153.500

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G52685849	100121080		24/08/2017	-	-	350000000.0	FLOOR NO. 6, CRESCENZO BUILDING, C-38/39,"G" BLOCK, BANDRA KURLA COMPLEX,BANDRA (EAST)MUMBAIMA400051IN
2	G06318299	100035036		21/06/2016	-	-	100000000.0	TOWER C, 14TH FLOOR, BUILDING NO. 10DLF CYBER CITY, PHASE-IIGURGAONHA122002IN
3	G05790514	100033393		01/06/2016	-	-	100400000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
4	C69291086	10600925		29/09/2015	-	-	450000000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
5	B88868823	10458556		08/11/2013	-	-	362700000.0	SME CREDIT , CRESCENZO, 3A/F, PLOT NO. C-38&39G BLOCK, BANDRA KURLA COMPLEX, BANDRA EASTMUMBAIMH400051IN
6	C61022406	10317926		08/11/2011	23/07/2015	-	261080000.0	TOWER C, 14TH FLOOR, BUILDING NO. 10DLF CYBER CITY, PHASE-IIGURGAONHR122002IN
7	C61811709	10318064		08/11/2011	23/07/2015	-	488920000.0	TOWER B, 7TH FLOOR, BUILDING NO.8DLF CYBER CITY, PHASE IIGURGAONHR122002IN
8	G02209104	10173919		27/08/2009	19/03/2016	-	880400000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
9	C67694059	10368079		13/07/2012	17/06/2015	15/10/2015	550000000.0	27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN
10	C53613204	10309113		19/08/2011	-	13/05/2015	130000000.0	TOWER C, 14TH FLOOR, BUILDING NO. 10DLF CYBER CITY, PHASE-IIGURGAONHR122002IN

FIXED ASSETS:

· Building

· Plant and Machinery

· Office Equipment

· Furniture and Fixture

· Computers

· Motor Truck

· Motor Car

· Scooter

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 63.34
UK Pound	1	INR 85.88
Euro	1	INR 76.15

INFORMATION DETAILS

Information Gathered by :	SHA
Analysis Done by :	VAR
Report Prepared by :	NKTS

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.