MIRA INFORM REPORT

Report No. :	468297.3
Report Date :	27.01.2018

IDENTIFICATION DETAILS

Name :	BHAGWATI MARBLES
Registered Office :	Kapai Complex, Near Bada Chowk, Hakikat Nagar, Saharanpur- 247001, Uttar Pradesh
Mobile No.:	91-9760435931 (Mr. Manoj Papneja)
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	1998
Capital Investment / Paid-up Capital :	Not Divulged
IEC No.:	Not Applicable (As informed by the management that firm does not have export and import)
GSTIN/UIN:	05AAGFB9687A1ZG
TIN No.:	Not Divulged
PAN No.: [Permanent Account No.]	AAGFB9687A
Legal Form :	Partnership Concern with an unlimited liability of the partners
Line of Business :	Trader of tiles, marbles and granites. [Confirmed by management]
No. of Employees :	4 (Approximately)

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 11000
Status :	Satisfactory
Payment Behaviour :	Slow but correct.
Litigation :	Clear
Comments :	Subject is a partnership concern established in the year 1988. It is a trader of Tiles, Marbles and Granites. Mr. Manoj Papneja (Partner) has provided information about the subject to us and claimed that concern has achieved sales turnover of INR 30.000 million (Approximately) for the FY 2016 and INR 40.000 million (Approximately) for the FY 2017 (which could not be verified). Rating takes into consideration long established track record of the concern. Business is active. Payments terns are slow but correct. In view of aforesaid, the concern can be considered for business dealings at usual trade terms and conditions. Note1: The correct name of the concern is ‘’Bhagwati Marbles”. Note 2: Site Visit was conducted at G.M.S Road, Near Balliwala Chowk, Dehradun- 248001, Uttarakhand, India and our executive has successfully traced the subject on the address. At the premises our executive met Mr. Hitesh Sahnui (Designation not divulged) and he denied to provide any information. During the site visit, our executive also enquired with neighbour companies (D. D Marbles and Ashraf Moters) and they confirmed that subject is situated on the address. As per our executive’s observation, it is a shed type premises. Location was easy to find and locality appears to be industrial. Area seems to be neutral. Total area of premises is 150 (sq. ft.) and 03 employee were sighted at the premises. Name board of the subject was not sighted. The address provided on the visiting card “Dehradun Road, Near Nao Gaja Peer, Opposite Dera Sachha Souda Ashram, Saharanpur, Uttar Pradesh” belongs to the sister concern of the subject. Note 3: Before the site visit, our executive contacted Mr. Manoj Papneja (Partner) and he confirmed that registered address of the subject is “G.M.S Road, Near Balliwala Chowk, Dehradun- 248001, Uttarakhand, India” but after the site visit, when our executive contacted Mr. Manoj Papneja (Partner) he claimed that “G.M.S Road, Near Balliwala Chowk, Dehradun- 248001, Uttarakhand, India” is a branch office address and “Kapai Complex Near Bada Chowk, Hakikat Nagar, Saharanpur- 247001, Uttar Pradesh India” is a correct registered address of the subject.

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 27.01.2018

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. Manoj Papneja
Designation :	Partner
Contact No.:	91-9760435931
Date :	18.10.2017

LOCATIONS

Registered Office / Warehouse:	Kapai Complex, Near Bada Chowk, Hakikat Nagar, Saharanpur- 247001, Uttar Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-9760435931/9979795773/9870846273 (Mr. Manoj Papneja)
Fax No.:	Not Available
E-Mail :	manojbharti713@gmail.com manojpapneja.mp@gmail.com
Branch office/ Warehouse:	G.M.S Road, Near Balliwala Chowk, Dehradun – 248001, Uttarakhand, India
Area:	150 (Sq. ft.) (As per site visit)
Locality:	Industrial (As per site visit)

PARTNERS

Name :	Mr. Manoj Papneja
Designation :	Partner
Name :	Mr. Jagdish Papneja
Designation :	Partner

BUSINESS DETAILS

Line of Business :	Trader of tiles, marbles and granites. [Confirmed by management]
Products:	Tiles marbles Granites
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	L/C, Cash, Credit, Advance Payment and Cheque
Purchasing :	L/C, Cash, Credit, Advance Payment and Cheque

GENERAL INFORMATION

Suppliers :

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

Customers :

Retailers and End Users

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

No. of Employees :

4 (Approximately)

Bankers :

Banker Name :	Not Divulged
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 :	--

Auditors :
Name :	Mr. Paveji Chartered Accountant
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	Bhagwati Marble and Granites, Dehradun Road, Near Nao Gaja Peer, Opposite Dera Sachha Souda Ashram, Saharanpur, Uttar Pradesh, India

CAPITAL STRUCTURE

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

FINANCIAL DATA

[all figures are INR Million]

Particulars	31.03.2017	31.03.2016
Sales Turnover (Approximately)	40.000	30.000

Expected Sales (2017-2018): INR 40.000 Million

The above information has been parted by Mr. Manoj Papneja (Partner)

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

FINANCIAL ANALYSIS

[all figures are INR Million]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales Turnover (Approximately)	30.000	40.000
		33.333

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 –legal form	Yes
3	Locality of the entity	Yes
4	Premises details	Yes
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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last two years	Yes
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 :	BHAGWATI MARBLES
Address :	G.M.S Road, Near Balliwala Chowk, Dehradun- 248001, Uttarakhand, India
Person to whom we met:	Name: Mr. Hitesh Sahnui Designation: Not Divulged
Name Board :	Not Sighted
Location:	Easy
Landmark (If Any):	Near Balliwala Chowk
Subject situated on:	Shed type premises
Locality:	Industrial
Area of Premises:	150 (sq. ft.)
Area :	Neutral
No. of Employees seen at Premises :	3
Furniture items sighted :	Table and Chairs
Sister Concern (Other name or name Board):	Bhagwati Marble and Granites
Proof of visit:	Photograph/ Visiting card
Neighbour’s interview :	Name of Company: D. D Marbles Name of Company: Ashraf Moters Neighbour’s Overview: Both are confirmed that the subject company exists on given address

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 63.50
UK Pound	1	INR 90.92
Euro	1	INR 79.07

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	VAR
Report Prepared by :	KVT

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.