MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	512206
Report Date :	01.06.2018

IDENTIFICATION DETAILS

Name :	ASSETZ INFRASTRUCTURE PRIVATE LIMITED

Registered Office :	Embassy Icon Annexe, Second Floor, Infantry Road, Bangalore – 560001, Karnataka
Tel. No.:	91-80-22374000

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	24.07.2007

Com. Reg. No.:	08-043460

Capital Investment / Paid-up Capital :	INR 0.100 Million

CIN No.: [Company Identification No.]	U45202KA2007PTC043460

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

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

PAN No.: [Permanent Account No.]	AAGCA7614K

GSTN : [Goods & Service Tax Registration No.]	Not Divulged

Legal Form :	Private Limited Liability Company

Line of Business :	The Company is engaged in the business of Construction of Residential Plots. The Company also carries out business of development of real estate projects through various special purpose vehicles and joint ventures. (Registered activity)

No. of Employees :	Information declined by the management

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 :	Moderate

Payment Behaviour :	Slow

Litigation :	Exists

Comments :	Subject was incorporated in the year 2007. The company is engaged in the business of real estate. For the financial year ended 2017, the company has reported a decline in its revenue as compared to the previous year’s revenue and has incurred operational losses. Rating is constrained on account of weak financial profile of the company marked by eroded net worth base. Business is active. Payment seems to be slow. In view of aforesaid, the company can be considered for business dealings on fully safe and secured trade terms and condition.

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 31-03-2018.

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 01.06.2018

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

MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-80-22374000)

91-9844132217 (NOT RESPONDING)

LOCATIONS

Registered Office / Factory :	Embassy Icon Annexe, Second Floor, Infantry Road, Bangalore – 560001, Karnataka, India
Tel. No.:	91-80-22374000
Fax No.:	91-80-22374400
E-Mail :	Triveni.Yadav@assetzproperty.com
Website :	https://www.assetzproperty.com

DIRECTORS

As on 31.03.2017

Name :

Mr. Ben Cameron Melville Salmon

Designation :

Director

Address :

8 Enggor St #50-02 Singapore 079718 Singapore

Date of Birth/Age :

28.11.1974

Date of Appointment :

24.07.2007

DIN No.:

00283128

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U45205KA2015PTC079422	ASSETZ PREMIUM HOLDINGS PRIVATE LIMITED	02/09/2016	-
U70200KA2017PTC101292	APG WAREHOUSING VENTURES PRIVATE LIMITED	10/03/2017	-
U45203KA2014PTC077653	APG COMMUNITY DEVELOPMENT PRIVATE LIMITED	18/09/2017	-
U70100KA2014PTC077189	APG INTELLI HOMES PRIVATE LIMITED	11/11/2014	-
U70102KA2014PTC076700	ASSETZ COMMUNITIES DEVELOPMENT PRIVATE LIMITED	18/09/2017	-
U70109KA2012PTC063873	ASSETZ WHITEFIELD HOMES PRIVATE LIMITED	07/05/2012	-
U45200KA2011PTC059763	CATALYSTS TECH PARKS PRIVATE LIMITED	30/09/2016	-
U45209KA2011FTC058514	L&W BUILDERS PRIVATE LIMITED	15/06/2011	-
U70109DL2011PTC213125	ASSETZ PROPERTY & HOMES PRIVATE LIMITED	28/01/2011	-
U70102KA2009PTC051941	QUADRANT FOUR PROPERTY DEVELOPERS PRIVATE LIMITED	23/12/2009	-
U45200KA2006PTC086745	INDIA GOLF ASSETS PRIVATE LIMITED	29/09/2017	-
U65993KA1991PTC011852	APG HOMES & INVESTMENTS PRIVATE LIMITED	07/06/2010	-

Name :

Mr. Jagannath Laxman Shetty

Designation :

Director

Address :

305, Building B Green Fieds, Thakur Complex, Kandivali (East), Mumbai – 400101, Maharashtra, India

Date of Appointment :

12.12.2016

DIN No.:

02044085

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U45500KA2017PTC109027	KIAP INDUSTRIAL ANNEX PRIVATE LIMITED	28/12/2017	-
U65999MH2017FTC301000	LAI INVESTMENT MANAGER PRIVATE LIMITED	18/10/2017	-
U70109KA2016PTC093516	APG INDUSTRIAL VENTURE PRIVATE LIMITED	08/11/2017	-
U70101KA2016PTC093454	APG SKYWARDS PRIVATE LIMITED	08/11/2017	-
U70109KA2016PTC093453	APG HABITAT PRIVATE LIMITED	08/11/2017	-
U74120MH2016PTC274163	AVENUE VENTURE PARTNERS (I) INVESTMENT ADVISER PRIVATE LIMITED	10/03/2016	-
U45205KA2015PTC081002	ASSETZ VALUE HOMES NORTH PRIVATE LIMITED	29/09/2017	-
U45205KA2015PTC079421	ASSETZ PREMIUM HOMES PRIVATE LIMITED	30/09/2017	-
U70102KA2007PTC044807	PCM CONSULTANTS PRIVATE LIMITED	30/09/2017	-
U70100MH2005PTC157593	PAVITRA PROPERTIES PRIVATE LIMITED	04/01/2006	-
U74999MH2015PTC261422	PAPER DESIGN INDIA PRIVATE LIMITED	28/01/2015	-
U45200KA2011PTC059763	CATALYSTS TECH PARKS PRIVATE LIMITED	30/09/2017	-
U74999MH2011PTC217996	QUANTUM PROJECTINFRA PRIVATE LIMITED	25/09/2014	-
U45200KA2006PTC086745	INDIA GOLF ASSETS PRIVATE LIMITED	27/09/2014	-
U72100MH1999PTC119747	LDS INFOTECH PRIVATE LIMITED	06/05/1999	-

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders (Equity Shares)		No. of Shares
Ben Cameron Melville Salmon		80000
Michael Holland		10000
Rajpal Singh Chaudhary		10000

Total		100000

Names of Shareholders (Preference Shares)		No. of Shares
Sudarshan Harihar Vaman		200

Total		200

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2017

Category	Percentage
Promoter - (Individual/ Hindu Undivided Family – Indian)	10.00
Promoter - (Individual/ Hindu Undivided Family – Foreign national (Other than NRI))	90.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the business of Construction of Residential Plots. The Company also carries out business of development of real estate projects through various special purpose vehicles and joint ventures. (Registered activity)

Products / Services :

Item Code No.	Product / Services Description
99531110	Sale of service

NIC Code No.	Product / Services Description
410	To carry all or any of the business of promoters, developers, builders of all type of buildings and structures, residential, industrial, commercial and including Infrastructure projects, formation of residential and commercial layouts by acquisition of land, sites, building, and purchase, hold, sale or lease or otherwise transfer or disposal of land or buildings or building project in any manner.

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

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 declined by the management

Bankers :

Bank Name	Not Divulged
Branch	--
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Auditors :
Name :	BSR and Associates LLP Chartered Accountants
Address :	Maruthi Info-Tech Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore – 560071, Karnataka, India
Tel. No.:	91-80-39806000
Fax No.:	91-80-39806999
Income-tax PAN of auditor or auditor's firm :	AAIFB7355D

Memberships :	Not Available

Collaborators :	Not Available

Subsidiaries :	APG Homes and Investments Private Limited Assetz Property Management Services Private Limited APG Premium Homes Private Limited

Associate	L and W Builders Private Limited

Joint Venture	Assetz Property and Homes LLP Assetz Whitefield Project Services LLP Assetz Whitefield Homes Private Limited Cornerstone Assetz Holdings LLP APG Imperial Homes Private Limited Assetz Investments and Holdings LLP Assetz Sarjapur Project Services LLP Assetz Infrahomes LLP Quadrant Four and Associates Quadrant Four Developers Private Limited Assetz Communities Developers Private Limited Anugraha Infrastructure and Associates SIM Operation and Management Services Private Limited India Golf Assets Private Limited Environ Infradevelopers Assetz BuiIdwell LLP Assetz Industrial Park Private Limited Bespoke Ace Financial Service LLP Assetz Premium Homes Private Limited Assetz Premium Holdings Private Limited Assetz Value Homes East Private Limited Assetz Value Homes North Private Limited Energo Infrastructure (India) Private Limited Energo Power and Energy Resource Private Limited APG Indsutrial Conglonerate Private Limited Assetz Group Holdings Pte Limited Indo Global Infra Projects Private Limited

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount

998000	Equity Shares	INR 1/- each	INR 0.998 Million
2000	Preference Shares	INR 1/- each	INR 0.002 Million
	Total		INR 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

100000	Equity Shares	INR 1/- each	INR 0.100 Million
200	Preference Shares	INR 1/- each	INR 0.000 Million
	Total		INR 0.100 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET (STANDALONE)

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	(57.084)	(45.674)	(144.178)
(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)	(56.984)	(45.574)	(144.078)

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	15.000	30.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	457.867	442.650	142.200
(d) long-term provisions	1.723	1.258	0.000
Total Non-current Liabilities (3)	459.590	458.908	172.200

(4) Current Liabilities
(a) Short term borrowings	167.770	13.894	42.083
(b) Trade payables	12.354	15.091	5.679
(c) Other current liabilities	532.517	636.580	413.595
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	712.641	665.565	461.357

TOTAL	1115.247	1078.899	489.479

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.006	0.152
(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	242.198	183.915	147.266
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	411.205	330.174	118.829
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	653.403	514.095	266.247

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	11.981	8.954	24.301
(d) Cash and cash equivalents	1.961	0.006	0.024
(e) Short-term loans and advances	440.819	555.694	198.343
(f) Other current assets	7.083	0.150	0.564
Total Current Assets	461.844	564.804	223.232

TOTAL	1115.247	1078.899	489.479

PROFIT & LOSS ACCOUNT (STANDALONE)

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	68.557	99.213	45.362
	Other Income	53.428	101.258	12.099
	TOTAL	121.985	200.471	57.461

Less	EXPENSES
	Cost of Construction	38.578	30.080	19.722
	Other expenses	77.396	62.714	74.205
	TOTAL	115.974	92.794	93.927

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	6.011	107.677	(36.466)

Less	FINANCIAL EXPENSES	23.076	14.705	12.383

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(17.065)	92.972	(48.849)

Less/ Add	DEPRECIATION/ AMORTISATION	0.006	0.146	0.273

	PROFIT/ (LOSS) BEFORE TAX	(17.071)	92.826	(49.122)

Less	TAX	0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX	(17.071)	92.826	(49.122)

	Earnings / (Loss) Per Share (INR)	(170.71)	928.26	(491.22)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	35.000	50.000	40.000
Cash generated from operations	(242.301)	494.522	1.587
Net cash flow from operating activity	(238.073)	486.896	1.543

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	63.79	32.94	195.54

Account Receivables Turnover (Income / Sundry Debtors)	5.72	11.08	1.87

Average Payment Days (Sundry Creditors / Purchases * 365 Days)	116.89	183.12	105.10

Inventory Turnover (Operating Income / Inventories)	0.00	0.00	0.00

Asset Turnover (Operating Income / Net Fixed Assets)	0.00	17946.17	(239.91)

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.67	0.68	1.09

Debt Equity Ratio (Total Liability / Networth)	(3.56)	(1.73)	(0.78)

Current Liabilities to Networth (Current Liabilities / Net Worth)	(12.51)	(14.60)	(3.20)

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

Interest Coverage Ratio (PBIT / Financial Charges)	0.26	7.32	(2.94

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	(24.90)	93.56	(108.29)

Return on Total Assets ((PAT / Total Assets) * 100)	%	(1.53)	8.60	(10.04)

Return on Investment (ROI) ((PAT / Networth) * 100)	%	29.96	(203.68)	34.09

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.65	0.85	0.48

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.65	0.85	0.48

G-Score Ratio Financial (Networth / Total Assets)	(0.05)	(0.04)	(0.29)

G-Score Ratio Debt (Debts / Equity Capital)	2027.70	788.94	1120.83

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.65	0.85	0.48

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	31.03.2015	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	(144.178)	(45.674)	(57.084)
Net worth	(144.078)	(45.574)	(56.984)

Long Term borrowings	30.000	15.000	0.000
Short Term borrowings	42.083	13.894	167.770
Current Maturities of Long term debt	40.000	50.000	35.000
Total borrowings	112.083	78.894	202.770
Debt/Equity ratio	(0.778)	(1.731)	(3.558)

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	45.362	99.213	68.557
		118.714	(30.899)

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	45.362	99.213	68.557
Profit / (Loss)	(49.122)	92.826	(17.071)
	(108.29%)	93.56%	(24.90%)

ABRIDGED BALANCE SHEET – (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2017	31.03.2016

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	(203.162)	58.740
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000
(3) Minority interest	0.221	0.152
Total Shareholders’ Funds (1) + (2)	(202.841)	58.992

(3) Non-Current Liabilities
(a) long-term borrowings	1089.908	670.528
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	554.332	578.758
(d) long-term provisions	16.276	14.422
Total Non-current Liabilities (3)	1660.516	1263.708

(4) Current Liabilities
(a) Short term borrowings	531.412	524.604
(b) Trade payables	256.757	344.385
(c) Other current liabilities	1022.609	969.632
(d) Short-term provisions	7.281	38.454
Total Current Liabilities (4)	1818.059	1877.075

TOTAL	3275.734	3199.775

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	530.442	540.214
(ii) Intangible Assets	197.561	194.464
(iii) Capital work-in-progress	0.000	4.713
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	97.476	69.670
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	754.406	751.803
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	1579.885	1560.864

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	691.318	714.372
(c) Trade receivables	261.392	191.420
(d) Cash and cash equivalents	148.447	62.226
(e) Short-term loans and advances	507.558	623.679
(f) Other current assets	87.134	47.214
Total Current Assets	1695.849	1638.911

TOTAL	3275.734	3199.775

PROFIT & LOSS ACCOUNT– (CONSOLIDATED)

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Income	1066.174	1302.848
	Other Income	46.123	23.360
	TOTAL	1112.297	1326.208

Less	EXPENSES
	Cost of Construction	796.255	790.149
	Employees benefits expense	206.891	194.431
	Other expenses	248.266	224.027
	TOTAL	1251.412	1208.607

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(139.115)	117.601

Less	FINANCIAL EXPENSES	103.642	97.939

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(242.757)	19.662

Less/ Add	DEPRECIATION/ AMORTISATION	16.386	13.535

	PROFIT/ (LOSS) BEFORE TAX	(259.143)	6.127

Less	TAX	8.352	43.885

	PROFIT/ (LOSS) AFTER TAX	(267.495)	(37.758)

	Earnings / (Loss) Per Share (INR)	(2675.64)	(528.72)

LEGAL CASE

District and Sessions Judge, South , Saket

Case Details

Case Type: CS DJ
Filing Number: 3679/2017Filing Date: 15-12-2017
Registration Number: 1114/2017Registration Date: 16-12-2017
CNR Number: DLST01-009673-2017

Case Status

First Hearing Date: 16th December 2017
Next Hearing Date: 06th February 2018
Stage of Case: Misc. cases
Court Number and Judge: 87-Additional District Judge

Petitioner and Advocate

1) M/S AGL PANARIA PVT. LTD.

Respondent and Advocate

1) ASSETZ INFRASTRUCTURE PVT. LTD. AND ORS.

Acts

Under Act(s)	Under Section(s)
Recovery of Money	RS817016

History of Case Hearing

Registration Number	Judge	Business On Date	Hearing Date	Purpose of hearing
1114/2017	Additional District Judge	16-12-2017	17-01-2018	Misc. cases
1114/2017	Additional District Judge	17-01-2018	06-02-2018	Misc. cases

Orders

Order Number

Order Date

Order Details

17-01-2018

COPY OF ORDER

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	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	No
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	Yes
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

OPERATIONS

The Company is engaged in the business of Construction of Residential Plots. The development envisages development residential apartments, under the name "Stratos" located at Bangalore. The Company also carries out business of development of real estate projects through various special purpose vehicles and joint ventures.

COMPANY OVERVIEW

The company is a private limited company incorporated under the companies act, 1956 (‘the act’) on 24 July 2007. The registered office of the company is located at Embassy Icon Annexe, Second Floor, Infantry Road, Bangalore – 560001, Karnataka, India.

The company is engaged in the business of development of real estate projects. The development envisages development residential apartments, under the name "Stratos" located at Bangalore. The Company also carries out business of development of real estate projects through various special purpose vehicles and joint ventures.

UNSECURED LOAN

Unsecured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Loans and advances from others	0.000	15.000

Short-term Borrowings
Loans and advances
Bank overdraft	0.000	3.015
From related parties	44.936	4.702
From others	122.834	6.177

Total	167.770	28.894

INDEX OF CHARGES:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G78174661	100157548	VISTRA ITCL (INDIA) LIMITED	28/02/2018	-	-	330000000.0	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMa400051IN
2	C63472369	10559686	ADITYA BIRLA FINANCE LIMITED	25/03/2015	31/08/2015	-	400000000.0	Indian Rayon Compound,VeravalGJ362266IN
3	C47908272	10473670	THE KARNATAKA BANK LIMITED	16/01/2014	-	27/03/2015	180000000.0	OVERSEAS BRANCHST MARKS ROADBANGALOREKA560001IN

CONTINGENT LIABILITIES:

(INR in million)

PARTICULARS	31.03.2017	31.03.2016
Corporate guarantee in favor of Housing Development Finance Corporation Limited for the loan taken by Assetz Whilefied Homes Private Limited	262.935	241.443
Jointly sevently Liable as co-applicant for the loan takes by Quardrant For and Associates from Aditya Birla Finance Limited	0.000	229.078
Indemnity towards erstwhile directors of Assetz Property management services Private Limited a wholly owned subsidiary of the company	110.000	110.000
Corporate guarantee for the loan taken by Assetz Whilefied Project Services LLP from Aditya Birla Finance Limited	148.720	297.448
Corporate guarantee for the non-convertible redeemable debentures issued by APG Intelli Homes Private Limited to Township Infra One Pte. Ltd held in trust by II and FS Trust Company Limited	2146.976	1043.206
Corporate guarantee for the loan taken by Assetz Property Management Services Private Limited from PNB Housing Finance Limited	0.000	36.342
Corporate guarantee for the loan taken by Assetz Property and Homes I.I.P from Aditya Birla Finance Limited	85.947	309.260
Corporate guarantee for the loan taken by Assetz Property Management Services Private Limited from Housing Development Finance Corporation Limited	230.000	0.000
Corporate guarantee for the loan taken by Quadrant Four and Associates from Housing Development Finance Corporation Limited	270.000	0.000
Corporate guarantee for the loan taken by Assetz Investments and Holdings I.I.P from Housing Development Finance Corporation Limited	30.000	0.000
Corporate guarantee for the loan taken by India Golf Assets Private Limited from State Bank of India	90.000	0.000
Claims against for the company not acknowledged as debts in respect of: Income – tax matters (refer notes(a) to (e) below)	8.998	0.000

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 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 67.82
UK Pound	1	INR 90.17
Euro	1	INR 78.70

INFORMATION DETAILS

Information Gathered by :	SWT

Analysis Done by :	NYT

Report Prepared by :	KJL

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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.