MIRA INFORM REPORT

Report No. :	516590
Report Date :	26.06.2018

IDENTIFICATION DETAILS

Name :	CANDICO (I) LIMITED
Formerly Known As :	HERITAGE BHARAT LIMITED
Registered Office :	G-9, Harsh Bhawan, 64-65, Nehru Place, New Delhi - 110019
Mobile No.:	91-9990030788 (Mr. Pradeep Sharma)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	09.05.1994
CIN No.: [Company Identification No.]	U74899DL1994PLC058883
Capital Investment / Paid-up Capital :	INR 140.000 Million
IEC No.: [Import-Export Code No.]	0597006725
PAN No.: [Permanent Account No.]	AAACC4180E
TIN No.:	27310000505
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Processing of all kinds of confectioneries including sugar candy’s sugar boiled, toffees, gums, chewing gums, mint etc. [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 :

B

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

Maximum Credit Limit :	USD 3400
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was incorporated in the year 1994 and it is engaged as manufacturing and supplier of candies, toffees, gums, soft chew and other confectionery products. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year but has reported thin profit margin during the year. The company possesses moderate financial risk profile marked by negative reserve level due to heavy accumulated losses incurred till 2014 along with heavy debt resulting in stretched liquidity position. Rating further gets constrained on account of its low profitability due to its presence in highly competitive and fragmented confectionery industry. However, these rating weakness gets partially offset by its long and established track record of its business operation backed by strong managerial and financial support from its 50% stake holding of “Keventer Group”. Payment seems to be slow. In view of aforesaid, the company can be considered for business dealing with some 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 (31.12.2017)	Current Rating (01.04.2018)
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 31-03-2018.

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 26.06.2018

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 BY

Name :	Mr. Pradeep Sharma
Designation :	Not Divulged
Contact No.:	91-9990030788
Date :	24.06.2018

MANAGEMENT NON-COOPERATIVE (91-124-4947200)

TEL NO.: 91-7104-237881 – NOT WORKING

LOCATIONS

Registered Office :	G-9, Harsh Bhawan, 64-65, Nehru Place, New Delhi – 110019, India
Tel. No.:	Not Available
Mobile No.:	91-9990030788 (Mr. Pradeep Sharma)
Fax No.:	Not Available
E-Mail :	sushiljain@candicoindia.com General Enquiry info@candiconagpur.com Exports bharatwadhwani@keventer.com Purchase sanjeev@candiconagpur.com Sales and Marketing info@candicoindia.com Consumer Cell cnpatil@candiconagpur.com
Website :	www.candicoindia.com
Factory :	M-32-38, MIDC Industrial Area, Hingna Road, Nagpur – 440016, Maharashtra, India
Tel. No.:	91-7104-237771 / 237772
Fax No.:	91-7104-237881
Administrative Office:	Block – 1/A, 1^st Floor, DLF Corporate Park, DLF City, Phase – 3 , M G Road, Gurgaon – 122002, Haryana, India
Tel. No.:	91-124-4947200
Fax No.:	91-124-4947202

DIRECTORS

AS ON 31.03.2018

Name :

Mr. Sanjiv Kumar

Designation :

Managing director

Address :

26, Poorvi Marg, DLF, Phase II, Gurugram - 122008, Haryana, India

Date of Birth/Age :

14.11.1949

Qualification:

M.B.A

Date of Appointment :

01.04.1997

DIN No.:

00038978

PAN No.:

ABCPK3127D

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51909DL1997PTC088899	APPLECART INK PRIVATE LIMITED	04/08/1997	-
U74140DL1982PTC120599	SANRAJ ENGINEERS PRIVATE LIMITED	03/06/1982	-
U15432DL2003PTC120138	SANCORP CONFECTIONARY PRIVATE LIMITED	01/05/2003	-
U24232DL2010PTC197641	GUM PHARMA PRIVATE LIMITED	13/04/2016	-

Name :

Mr. Anirudh Khullar

Designation :

Director

Address :

House No. 121, Sector 24-A, Chandigarh, Chandigarh - 160023, India

Date of Appointment :

25.03.2015

DIN No.:

00019317

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L18101HR1993PLC033167	UNIROYAL INDUSTRIES LIMITED	30/01/2003	-

Name :

Mr. Mayank Jalan

Designation :

Director

Address :

Shreeram Gardens, Flat - 11b, 15, Belvedere Road, Kolkata - 700027, West Bengal, India

Date of Birth/Age :

15.09.1981

Qualification:

B. Tech

Date of Appointment :

01.04.2013

DIN No.:

00598842

PAN No.:

AEUPJ1360E

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U45400MH2013PTC249956	KOLKATA-ONE EXCELTON PRIVATE LIMITED	28/01/2014	-
U74999WB2010PLC150527	KEVENTER FOODPARK INFRA LIMITED	26/09/2014	-
U74900WB2009PLC135933	GAMA HOSPITALITY LIMITED	17/06/2009	-
U45201MH2006PTC162970	EASTERN GATEWAY TERMINALS PRIVATE LIMITED	27/09/2017	-
U85300WB1926GAP005585	INDIAN CHAMBER OF COMMERCE CALCUTTA	15/07/2017	-
U51109WB2002PLC095474	KEVENTER FRESH LIMITED	01/07/2003	-
U35114WB1995PTC069392	BENGAL PORT PRIVATE LIMITED	30/09/2016	-
U70109WB1995PLC068434	DANKUNI PROJECTS LIMITED	16/08/2005	-
U51909WB1995PLC067394	MKJ TRADEX LIMITED	20/08/2003	-
U45201WB1995PLC067263	BENGAL NRI COMPLEX LTD.	01/07/2014	-
U15209WB1991PLC051980	METRO DAIRY LTD	27/09/2013	-
U65100WB1991PLC050927	KEVENTER CAPITAL LIMITED	30/09/2011	-
U15419WB1986PLC040729	KEVENTER AGRO LTD.	01/07/2003	-

Name :

Mr. Ajay Choudhury

Designation :

Director

Address :

74/A, Paddapukur Road, Kolkata - 700020, West Bengal, India

Date of Appointment :

25.03.2015

DIN No.:

00040825

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U91990WB1975PLC032073	BENGAL BONDED WAREHOUSE ASSOCIATION.	28/09/2012	-
U15209WB1991PLC051980	METRO DAIRY LTD	17/09/2015	-
U27109WB1991PLC052962	SHYAM SEL AND POWER LIMITED	06/04/2018	-
U40101WB2002PLC095491	SHYAM METALICS AND ENERGY LIMITED	06/04/2018	-
U74200WB2007PTC118399	VERMILION ART PRIVATE LIMITED	07/09/2007	-
U70104WB2016PLC216132	BENGAL BONDED WAREHOUSE LIMITED	10/06/2016	-

Name :

Mr. Sunil Kajaria

Designation :

Nominee director

Address :

105, Southern Avenue, Kolkata - 700029, West Bengal, India

Date of Birth/Age :

12.04.1971

Date of Appointment :

01.10.2012

DIN No.:

00464799

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U45201WB1987PTC042412	PARAMHANSHA PROPERTIES PRIVATE LIMITED	30/06/2010	-
U70101WB2003PTC097272	PAHARIMATA SECURITIES PRIVATE LIMITED	24/10/2015	-
U51909WB2008PTC122944	P.M. TRADE VENTURES PRIVATE LIMITED	22/02/2008	-
U74999WB2010PLC150527	KEVENTER FOODPARK INFRA LIMITED	25/09/2013	-
U74999WB2011PTC158466	EDWARD KEVENTER PRIVATE LIMITED	01/10/2012	-

Name :

Mr. Rakesh Salhotra

Designation :

Nominee director

Address :

18/101 Unitech Heritage City, Mehrauli Gurgaon Road, Gurgaon - 122002, Haryana, India

Date of Birth/Age :

24.08.1954

Date of Appointment :

09.10.2010

DIN No.:

01546421

Other directorship:

U74920DL1996PTC078513

OMNISIGHT SERVICES PRIVATE LIMITED

26/04/1996

-

Name :

Mr. Rameshchandra Chavan

Designation :

Nominee director

Address :

P.No. 40, Madhao Nagar, Nagpur - 440016, Maharashtra, India

Date of Birth/Age :

31.08.1947

Date of Appointment :

09.10.2010

DIN No.:

02979810

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74899DL1995PTC073558	BASH AGRO FARMS PRIVATE LIMITED	01/07/2010	-

Name :

Mr. Sanjay Gupta

Designation :

Nominee director

Address :

25/8 D H Road Geetanjali Apartment, Flat No 2/C, Kolkata - 700008, West Bengal, India

Date of Birth/Age :

17.04.1969

Qualification:

C.A.

Date of Appointment :

09.10.2010

DIN No.:

03095578

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U91990WB1975PLC032073	BENGAL BONDED WAREHOUSE ASSOCIATION.	18/12/2015	-
U70102MH2006PTC161884	RIDDHI SIDDHI MALL MANAGEMENT PRIVATE LIMITED	27/09/2012	-
U74999WB2011PTC158466	EDWARD KEVENTER PRIVATE LIMITED	03/02/2011	-
U70104WB2016PLC216132	BENGAL BONDED WAREHOUSE LIMITED	10/06/2016	-

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
Sanjiv Kumar	250000
Manjari Gupta	800000
Karan Gupta	1512500
Madhav Gupta	1512500
Shivani Gupta	1025000
Sanraj Engineers Private Limited	1000000
Keventer Agro Limited	7000000
Sanjiv Kumar (HUF)	900000
Total	14000000

Equity Share Break up (Percentage of Total Equity)

AS ON 20.09.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	42.86
Promoters- Body corporate	57.14
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Processing of all kinds of confectioneries including sugar candy’s sugar boiled, toffees, gums, chewing gums, mint etc. [Registered Activity]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Sugar Confectionery	9961125

Brand Names :

Not Available

Agencies Held :

Not Available

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 :	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 :	V.K. Sehgal and Associates Chartered Accountants
Address :	201 Harsh Bhawan, 64-65 Nehru Place, New Delhi, India
PAN N Income-tax PAN of auditor or auditor's firm :	AMEPS0840E
Memberships :	Not Available
Collaborators :	Not Available
Associates:	Keventer Agro Limited, India [U15419WB1986PLC040729] Sancorp Food and Pharma Limited Sancorp eurobase Limited Sanraj Engineers Private Limited Sancorp Confectionery Private Limited Gum Pharma Private Limited, India [U24232DL2010PTC197641] Applecart Ink Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
14925000	Equity Shares	INR 10/- each	INR 149.250 Million
275000	Preference Shares	INR 10/- each	INR 2.750 Million
	Total		INR 152.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14000000	Equity Shares	INR 10/- each	INR 140.000 Million

FINANCIAL DATA

[all figures are 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	140.000	140.000	140.000
(b) Reserves and Surplus	(138.813)	(152.665)	(159.620)
(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)	1.187	(12.665)	(19.620)
(3) Non-Current Liabilities
(a) long-term borrowings	32.682	39.611	44.706
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	0.000	0.000	0.551
(d) long-term provisions	6.824	5.400	5.156
Total Non-current Liabilities (3)	39.506	45.011	50.413
(4) Current Liabilities
(a) Short-term borrowings	0.000	0.000	0.000
(b) Trade payables	48.368	48.987	63.510
(c) Other current liabilities	35.321	44.781	41.787
(d) Short-term provisions	0.900	0.760	0.659
Total Current Liabilities (4)	84.589	94.528	105.956
TOTAL	125.282	126.874	136.749
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	77.092	85.591	90.501
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets capital work-in-progress	0.000	1.130	1.130
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.011	0.011	0.011
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	0.000	0.000	0.000
(e) Other Non-current assets	12.894	16.073	18.021
Total Non-Current Assets	89.997	102.805	109.663
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	9.190	7.047	7.718
(c) Trade receivables	9.073	7.495	7.411
(d) Cash and bank balances	1.095	0.906	2.768
(e) Short-term loans and advances	13.193	5.995	7.260
(f) Other current assets	2.734	2.626	1.929
Total Current Assets	35.285	24.069	27.086
TOTAL	125.282	126.874	136.749

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	178.939	152.584	140.034
	Other Income	2.056	1.442	0.743
	TOTAL	180.995	154.026	140.777
Less	EXPENSES
	Cost of Materials Consumed	38.479	32.021	36.966
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	1.085	(0.501)	7.295
	Employee benefit expense	39.247	38.415	32.388
	Other expenses	70.036	63.411	54.007
	TOTAL	148.847	133.346	130.656
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	32.148	20.680	10.121
Less	FINANCIAL EXPENSES	6.042	4.502	0.106
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	26.106	16.178	10.015
Less/ Add	DEPRECIATION/ AMORTISATION	11.329	8.897	9.966
	PROFIT/ (LOSS) BEFORE TAX	14.777	7.281	0.049
Less	TAX	0.926	0.327	0.011
	PROFIT/ (LOSS) AFTER TAX	13.851	6.954	0.038
	Earnings / (Loss) Per Share (INR)	0.99	0.50	0.00

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 operations	NA	NA	NA
Net cash flows from (used in) operations	18.102	13.915	6.272
Net cash flows from (used in) operating activities	14.442	10.963	4.331

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	18.51	17.93	19.32
Account Receivables Turnover (Income / Sundry Debtors)	19.72	20.36	18.90
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	458.80	558.39	627.09
Inventory Turnover (Operating Income / Inventories)	3.50	2.93	1.31
Asset Turnover (Operating Income / Net Fixed Assets)	0.42	0.24	0.11

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.94	1.06	1.10
Debt Equity Ratio (Total Liability / Networth)	27.53	(3.13)	(2.28)
Current Liabilities to Networth (Current Liabilities / Net Worth)	71.26	(7.46)	(5.40)
Fixed Assets to Networth (Net Fixed Assets / Networth)	64.95	(6.85)	(4.67)
Interest Coverage Ratio (PBIT / Financial Charges)	5.32	4.59	95.48

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	7.74	4.56	0.03
Return on Total Assets ((PAT / Total Assets) * 100)	%	11.06	5.48	0.03
Return on Investment (ROI) ((PAT / Networth) * 100)	%	1166.89	(54.91)	(0.19)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.42	0.25	0.26
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.31	0.18	0.18
G-Score Ratio Financial (Networth / Total Assets)	0.01	(0.10)	(0.14)
G-Score Ratio Debt (Debts / Equity Capital)	0.23	0.28	0.32
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.42	0.25	0.26

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	140.000	140.000	140.000
Reserves & Surplus	(159.620)	(152.665)	(138.813)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(19.620)	(12.665)	1.187
Long-term borrowings	44.706	39.611	32.682
Short term borrowings	0.000	0.000	0.000
Total borrowings	44.706	39.611	32.682
Debt/Equity ratio	(2.279)	(3.128)	27.533

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	140.034	152.584	178.939
		8.962	17.272

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	140.034	152.584	178.939
Profit/ (Loss)	0.038	6.954	13.851
	0.03 %	4.56 %	7.74 %

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	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	No
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

UNSECURED LOANS:

(INR In Million)

Particulars	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Loans and advances from directors	0.000	2.608
Other loans and advances, others	32.682	37.003
Total	32.682	39.611

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	B19658459	80032768	LORD KRISHNA BANK LIMITED	25/06/2002	-	25/08/2011	25500000.0	K-2 CHAUDHARY BUILDING MIDDLE CIRCLECONNAUGHT CIRCUSNEW DELHIDL110001IN
2	B10644870	80032765	CANARA BANK	28/10/1997	19/04/2005	05/04/2011	70000000.0	JANPATHNEW DELHIDL110001IN
3	B10645216	80032766	CANARA BANK	28/10/1997	19/04/2005	05/04/2011	10000000.0	JANPATHNEW DELHIDL110001IN
4	B10645984	90061273	CANARA BANK	28/10/1997	24/05/2010	05/04/2011	10000000.0	74, JANPATHNEW DELHIDL110001IN
5	B10646396	90062066	CANARA BANK	27/09/2000	24/05/2010	05/04/2011	1000000.0	74, JANPATHNEW DELHIDL110001IN
6	B10644524	80014295	CANARA BANK	20/10/1997	24/05/2010	05/04/2011	70000000.0	74, JANPATHNEW DELHIDL110001IN
7	B10646883	90062494	CANARA BANK	20/03/2002	06/10/2006	05/04/2011	25000000.0	74, JANPATHNEW DELHIDL110001IN
8	B10644151	10120210	CANARA BANK	11/07/2008	24/05/2010	05/04/2011	25000000.0	74, JANPATHNEW DELHIDL110001IN
9	B10647303	80032771	CANARA BANK	27/09/2000	24/01/2003	05/04/2011	5000000.0	JANPATHNEW DELHIDL110001IN
10	A84320647	80032767	CORPORATION BANK	09/01/2006	-	08/04/2010	54120000.0	OVERSEAS BANK10 TH FLOOR HINDUSTAN HOUSENEW DELHIDL110001IN

CONTINGENT LIABILITIES

(INR In Million)

Particulars	As on 31.03.2017	As on 31.03.2016
CLAIM AGAINST THE COMPANY NOT ACKNOWLEDGED AS DEBTS
Sales Tax Demands	6.273	6.273
Deferral Sales Tax Demands	38.328	29.403
Excise Department	25.859	25.462
Income Tax Demands	1.427	1.427
GUARANTEES;	0.150	0.150

FIXED ASSETS:

Tangible assets

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment

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 68.15
UK Pound	1	INR 90.27
Euro	1	INR 79.35

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	NIS
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.