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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

516318

Report Date :

26.06.2018

 

IDENTIFICATION DETAILS

 

Name :

CORPORATE INDIA ADVISORS LLP      

 

 

Registered Office :

Office No. 124 and 125, 1st Floor, Hubtown Solaris, Near Andheri East West Flyover, Off N.S Phadake Road, Andheri (East), Mumbai-400069, Maharashtra

Tel. No.:

91-22-26830329

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

01.10.2014

 

 

Total Obligation of Contribution :

INR 0.500 Million

 

 

LLPIN No.:

AAC-7782

 

 

PAN No.:

[Permanent Account No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Subject is engaged in the business of Consultancy in the Feild of National and International Direct and Indirect Taxes, Legal Advisory Services and Business Management Services. [Registered Activity and also Confirmed by Management]

 

 

No. of Employees :

10 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd 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 3500

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a limited liability partnership concern established in the year 2014 and it is engaged in providing tax consultancy services.

 

For the financial year 2017, the firm has achieved top line growth in its revenue as compared to its previous year but has reported very thin profit margin during the year.

 

The concern possesses moderate financials risk profile marked by modest capital base and weak cash accruals.

 

Rating gets constrained on account of its low profitability and its short track record of its business operation.

 

Payment seems to be slow but correct.

 

In view of aforesaid the firm can be considered for business dealings 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 PARTED BY

 

Name :

Mr. Rohit Shah

Designation :

Manager

Contact No.:

91-9930479678

Date :

22.06.2018

 

 

LOCATIONS

 

Registered Office :

Office No. 124 and 125, 1st Floor, Hubtown Solaris, Near Andheri East West Flyover, Off N.S Phadake Road, Andheri (East), Mumbai-400069, Maharashtra, India

Tel. No.:

91-22-26830329

Mobile No.:

91-9930479678 [Mr. Rohit Shah]

91-9312228575 [Mrs. Rohini]

Fax No.:

Not Available

E-Mail :

sanjay@cia-llp.com

info@cia-llp.com

Website :

http://www.cia-llp.com

Location :

Rented

Locality :

Commercial

 

 

PARTNERS

 

AS ON: 31.03.2018

 

Name :

Mrs. Rohini Aggarawal

Designation :

Designated Partner

Address :

Flat - 67C, Block-B UV, Shalimar Bagh, Delhi-110088, India

Date of Appointment :

01.10.2014

DPIN No.:

01596906

Other Directorship :

CIN/FCRN

Company Name

Begin Date

U22110DL2005PTC139326

SAARTHI PUBLICATIONS PRIVATE LIMITED

04/08/2005

U40109HR1999SGC034166

UTTAR HARYANA BIJLI VITRAN NIGAM LIMITED

06/02/2018

U67190DL2014PTC266750

ARX ADVISORS PRIVATE LIMITED

24/03/2014

U74999DL2013PTC261317

NR CORP ADVISORS PRIVATE LIMITED

30/12/2014

U74999MH2016PTC288379

GSTIWORLD CONSULTING PRIVATE LIMITED

01/02/2017

 

 

Name :

Mr. Sanjay Lunia

Designation :

Designated Partner

Address :

C-23, Tilak Complex, Near Shanti Ashram, Borivali (West), Mumbai-400103, Maharashtra, India

Date of Appointment :

01.10.2014

DPIN No.:

02507648

 

 

KEY EXECUTIVES

 

Name :

Mr. Rohit Shah

Designation :

Manager

 

CONTRIBUTION DETAILS

 

Names of Persons

Monetary value of contribution

(INR In Million)

Sanjay  Lunia

0.250

Rohini  Aggarawal

0.250

 

 

Total

0.500

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of Consultancy in the Feild of National and International Direct and Indirect Taxes, Legal Advisory Services and Business Management Services. [Registered Activity and also Confirmed by Management]

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

Customers :

End Users and Others [Corporate]

 

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

No. of Employees :

10 (Approximately)

 

 

Bankers :

 

Bank Name:

Not Divulged

Branch:

Not Divulged

Person Name (with Designation):

--

Contact Number:

--

Name of Account Holder:

--

Account Number:

--

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

Credit Facilities Enjoyed (CC/OD/Term Loan):

--

Account Operation:

--

Remarks:

--

 

 

 

Auditors :

 

Name :

Varia and Associates

Chartered Accountants

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Divulged

 


 

CAPITAL STRUCTURE

 

AS ON: 31.03.2017

 

Particulars

 

Amount in Million

Partners Capital A/C

0.500

Partners Current A/C

0.755

 

 

Total

 

1.255

 


 

FINANCIAL DATA

[all figures are in 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)Partners Capital A/C

0.500

0.500

0.500

(b)Partners Current A/C

0.755

0.721

0.857

(c) Reserves & Surplus

0.000

0.000

0.000

(d) 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)

1.255

1.221

1.357

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

1.597

2.037

1.250

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

1.597

2.037

1.250

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

0.583

0.360

0.034

(c) Other current liabilities

0.143

0.246

0.693

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

0.726

0.606

0.727

 

 

 

 

TOTAL

3.578

3.864

3.334

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.714

0.831

1.102

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.780

0.750

0.750

Total Non-Current Assets

1.494

1.581

1.852

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

1.230

1.031

1.114

(d) Cash and cash equivalents

0.367

0.455

0.299

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

0.487

0.797

0.069

Total Current Assets

2.084

2.283

1.482

 

 

 

 

TOTAL

3.578

3.864

3.334

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

 

Revenue from Operations

100.243

8.841

4.376

 

 

Other Income

0.086

0.012

0.000

 

 

TOTAL                                    

100.329

8.853

4.376

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of Stock-in-Trade

86.555

0.000

0.000

 

 

Employees benefits expense

6.003

2.722

1.154

 

 

Other expenses

7.188

5.599

1.667

 

 

TOTAL                                    

99.746

8.321

2.821

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

0.583

0.532

1.555

 

 

 

 

 

Less

FINANCIAL EXPENSES                       

0.120

0.025

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION              

0.463

0.507

1.555

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.213

0.286

0.185

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX                        

0.250

0.221

1.370

 

 

 

 

 

Less

TAX                                                                 

0.216

0.082

0.433

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX               

0.034

0.139

0.937

 

 

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 flow from (used in) Operations

NA

NA

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

4.48

42.56

92.92

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

81.50

8.58

3.93

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

2.46

0.00

0.00

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.00

0.00

0.00

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.82

0.64

1.41

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.65

0.68

0.59

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.27

1.67

0.92

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.58

0.50

0.54

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.57

0.68

0.81

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

4.86

21.28

0.00

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

0.03

1.57

21.41

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.95

3.60

28.10

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

2.71

11.38

69.05

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

2.87

3.77

2.04

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

2.87

3.77

2.04

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.35

0.32

0.41

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

1.27

1.67

0.92

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.87

3.77

2.04

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 


 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Partners Capital A/C

0.500

0.500

0.500

Partners Current A/C

0.857

0.721

0.755

Reserves & Surplus

0.000

0.000

0.000

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

1.357

1.221

1.255

 

 

 

 

long-term borrowings

1.250

2.037

1.597

Short term borrowings

0.000

0.000

0.000

Total borrowings

1.250

2.037

1.597

Debt/Equity ratio

0.921

1.668

1.273

 

 


 

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

4.376

8.841

100.243

 

 

102.034

1,033.842

 

 


 

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

4.376

8.841

100.243

Profit/ (Loss)

0.937

0.139

0.034

 

21.41%

1.57%

0.03%

 


 

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

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

No

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 about 2 years and six months

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last about 2 years and six months

Yes

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

 

 

INDEX OF CHARGES: NO CHARGES EXISTS FOR LLP

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 :

PNM

 

 

Analysis Done by :

NSG

 

 

Report Prepared by :

RUP

 


 

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

NO

--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.