MIRA INFORM REPORT

Report No. :	483186
Report Date :	11.01.2018

IDENTIFICATION DETAILS

Name :	ACQUA BATH TRADE
Registered Office :	195, Nagappa Industrial Estate, G.N.T Road, Puzhal, Chennai - 600066, Tamilnadu
Mobile No.:	91-9442135069 [Mr. Nagaraj Patel]
Country :	India
Financials (as on) :	Not Available
Year of Establishment :	September 2017
Capital Investment :	Not Divulged
IEC No.:	Not Divulged
TIN No.:	Not Divulged
GST No.:	33ABJFA3806G1ZS
PAN No.: [Permanent Account No.]	ABJFA3806G
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Trader and Importer of Vitra Sanitary Ware and Bath Fitting Items. [Confirmed by Management]
No. of Employees :	03 [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

Status :	New Business
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new partnership concern established in September 2017. It is a Trader of Vitra Sanitary Items from Turkey and Tiles purchased from Gujarat. Mr. Nagaraj D Patel (Partner) provided information about the subject to us and further claimed that the subject has commenced its operational activity since its inception. Payments are reported to be unknown. In view of subject’s infancy and absence of any financial, dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable. Note: Site visit was conducted at the address which you have provided. Our executive has successfully traced the subject on the given address. At the premises, our executive met one of the Mr. Amit Patel (Manager) and he provided contact details. Our executive enquired with neighbour company (Shri Laxmi Timber Depo and Birla Tyres) and they claimed that the subject is situated on the given address. As per our executive’s observation, it is a shed type premises. Area of the premises seems to be 8000 sq. ft. and number of employees sighted at the premises were 2. Locality seems to be commercial and area appears to be upmarket. Location was easy to find and we have sighted subject’s name board.

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
oderately 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 11.01.2018.

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 PARTED BY

Name :	Mr. Nagaraj Patel
Designation :	Partner
Contact No.:	91-9442135069
Date :	11.01.2018

LOCATIONS

Registered Office/ Factory:	195, Nagappa Industrial Estate, G.N.T Road, Puzhal, Chennai - 600066, Tamilnadu, India
Tel. No.:	Not Available
Mobile No.:	91-9442135069 [Mr. Nagaraj Patel]
Fax No.:	Not Available
E-Mail :	acquabathtrade@gmail.com
Area :	8000 Sq. Ft. [As per site visit]
Location:	Rented
Locality:	Commercial [As per site visit]

PARTNERS

Name :	Mr. Nagaraj Patel
Designation :	Partner
Address :	83/3, Agaram Main Road, Tiruvanchery, Chennai-600126, Tamilnadu, India
Date of Birth/Age :	29.05.1969
Qualification :	HSC
Experience :	3 Years
Aadhar No.:	798873013182
PAN No.:	ABHPN2873L
Name :	Mr. Govindlal D Patel
Designation :	Partner
Address :	1/896, Courtallam Road, Piranoor Border, Shencottah-627809, Tamilnadu, India
Date of Birth/Age :	30.05.1975
Aadhar No.:	993596227370
Name :	Mrs. Geetha N Patel
Designation :	Partner
Address :	1/896, Courtallam Road, Piranoor Border, Shencottah-627809, Tamilnadu, India
Date of Birth/Age :	01.06.1971
Aadhar No.:	361895933195
PAN No.:	AGMPP5430H
Name :	Mr. Dharamsi L Patel
Designation :	Partner
Address :	379/1, 58B/1, Gandhi Nagar, Annuparpalayam Post, Avinashi Road, Tirupur-641652, Tamilnadu, India
Date of Birth/Age :	11.07.1976
Aadhar No.:	212361163812
PAN No.:	ADKPD1429M
Name :	Mr. Mukesh S Patel
Designation :	Partner
Address :	4/193, Bharathi Nagar, Palladam Road, Tirupur-641608, Tamilnadu, India
Date of Birth/Age :	04.07.1984
Aadhar No.:	786898554392

KEY EXECUTIVE

Name :	Mr. Amit Patel
Designation :	Manager

BUSINESS DETAILS

Line of Business :	Trader and Importer of Vitra Sanitary Ware and Bath Fitting Items. [Confirmed by Management]
Products/ Services :	Vitra Sanitary Ware and Bath Fitting Items
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :
Products :	Sanitary Items
Countries :	Turkey (Istanbul)
Trade Reference :	Vitra Traders
Terms :
Selling :	L/C
Purchasing :	L/C and Credit [90 Days]

GENERAL INFORMATION

Suppliers :

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

Customers :

Wholesalers

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

No. of Employees :

03 [Approximately]

Bankers :

Bank Name:	Bank of India
Branch:	East Tambaram 14-15/19-20, 1t Floor Rani Amma Complex Ranganathan Nagar, Selaiyur Chennai-600073, Tamilnadu, India
Person Name (with Designation):	Mr. Raju
Contact Number:	91-9442135069
Name of Account Holder:	ACQUA BATH TRADE
Account Number:	806620110000239 (Current Account)
Account Since (Date/ Year of A/c Opening):	04.09.2017
Average Balance Maintained (Optional):	INR 0.200 million
Credit Facilities Enjoyed (CC/OD/Term Loan):	NIL
Account Operation:	Satisfactory
Remarks:	As claimed by Raju that they are satisfied with the subject company transaction

Auditors :
Name :	Sami and Raju Chartered accountants
Address :	Tiruchirapalli, Tamilnadu, India
Tel. No.:	91-431-2765109
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Balaji Traders

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	Not Divulged
Total :	Not Divulged

FINANCIAL DATA

[all figures are in INR Million]

NEW BUSINESS

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	Yes
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	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)	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	No
22	Conduct of the banking account	Yes
23	Financials, if provided	No
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last three years	No
30	Major shareholders, if available	No
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

OBSERVATION POINTS

Name of Company :	ACQUA BATH TRADE
Address :	195, Nagappa Industrial Estate, G.N.T Road, Puzhal, Chennai-600066, Tamilnadu, India
Contact No.:	91-9442135069/ 9965536069
Date of Visit :	28.12.2017
Person to whom we met:	Mr. Amit Patel (Manager)
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	Near Bridge
Total Floors of the Building :	Shed Type Premises
Subject situated on:	Shed Type Premises
Locality:	Commercial
Area of Premises :	8000 Sq. ft.
Area :	Upmarket
No. of employees seen at premises:	02 (Approx.)
Visibility of Items:	· Computers · Air Conditioner · Office Equipment
Neighbours Interview :	Our executive enquired with neighbour company (Shri Laxmi Timber Depo and Birla Tyres) and they claimed that the subject is situated on the given address.
Proof of visit:	Photos and Visiting Card

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PROJECTED BALANCE SHEET

[INR IN MILLION]

SOURCES OF FUNDS		31.03.2018 [Estimated]
SHAREHOLDERS FUNDS
1] Partners Capital		7.000
2] God’s A/c		0.001
3] Reserves & Surplus		0.000
NETWORTH		27.001
LOAN FUNDS
1] Secured Loans		20.000
2] Unsecured Loans		0.000
TOTAL BORROWING		20.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		27.001
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.975
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	22.500
	Sundry Debtors	3.500
	Cash & Bank Balances	0.526
	Other Current Assets	0.000
	Loans & Advances	5.500
Total Current Assets		32.026
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.000
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		6.000
Net Current Assets		26.026
MISCELLANEOUS EXPENSES		0.000
TOTAL		27.001

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PROJECTED PROFIT AND LOSS ACCOUNT

[INR IN MILLION]

	PARTICULARS		31.03.2018 [Estimated]
	SALES
		Sales	10.000
		Other Income	0.068
		TOTAL	10.068
Less	EXPENSES
		Cost of Goods Sold	7.925
		Transport charges	0.475
		Salary and bonus paid	0.180
		Godown rent	0.400
		Printing and stationery	0.024
		Telephone charges	0.023
		Postage and courier	0.005
		EB charges	0.051
		Insurance	0.050
		Advertisement expenses	0.090
		Staff refreshments	0.075
		Office expenses	0.020
		TOTAL	9.318
	PROFIT BEFORE INTEREST AND DEPRECIATION AND AMORTISATION		0.750
Less	FINANCIAL EXPENSES		0.465
	PROFIT BEFORE DEPRECIATION AND AMORTISATION		0.285
Less/ Add	DEPRECIATION/ AMORTISATION		0.000
	NET PROFIT/ (LOSS)		0.285

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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 63.83
UK Pound	1	INR 86.28
Euro	1	INR 76.14

INFORMATION DETAILS

Information Gathered by :	SHK
Analysis Done by :	PRY
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	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.