MIRA INFORM REPORT

Report No. :	495359
Report Date :	03.03.2018

IDENTIFICATION DETAILS

Name :	ZINDIA LIMITED

Registered Office :	Level 8, Swanson House, 12-26 Swanson Street, PO Box 6750, Wellesley Street, Auckland1141

Country :	New Zealand

Date of Incorporation :	14.06.2004

Com. Reg. No.:	1521564

Legal Form :	Private Limited Liability Company

Line of Business :	The subject is engaged in exporting logs and lumber to India. It also owns and manages over 6,000 acres of Radiata pine plantations in New Zealand.

No. of Employees :	Less than 5

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Acceptable Risk

Business dealings permissible with moderate risk of default

Status :	Satisfactory

Payment Behaviour :	No Complaints

Litigation :	Clear

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)

New Zealand

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

NEW ZEALAND - ECONOMIC OVERVIEW

Over the past 40 years, the government has transformed New Zealand from an agrarian economy, dependent on concessionary British market access, to a more industrialized, free market economy that can compete globally. This dynamic growth has boosted real incomes, but left behind some at the bottom of the ladder and broadened and deepened the technological capabilities of the industrial sector.

Per capita income rose for 10 consecutive years until 2007 in purchasing power parity terms, but fell in 2008-09. Debt-driven consumer spending drove robust growth in the first half of the decade, fueling a large balance of payments deficit that posed a challenge for policymakers. Inflationary pressures caused the central bank to raise its key rate steadily from January 2004 until it was among the highest in the OECD in 2007 and 2008. The higher rate attracted international capital inflows, which strengthened the currency and housing market while aggravating the current account deficit. Rising house prices, especially in Auckland, have become a political issue in recent years, as well as a policy challenge in 2016 and 2017, as the ability to afford housing has declined for many.

Expanding New Zealand’s network of free trade agreements remains a top foreign policy priority. New Zealand was an early promoter of the Trans-Pacific Partnership (TPP) and was the second country to ratify the agreement in May 2017. Following the United States’ withdrawal from the TPP in January 2017, on 10 November 2017 the remaining 11 countries agreed on the core elements of a modified agreement, which they renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). In November 2016, New Zealand opened negotiations to upgrade its FTA with China; China is one of New Zealand’s most important trading partners.

Source : CIA

IDENTIFICATION

Verified
Subject name:	ZINDIA LIMITED
Address:	Level 8, Swanson House 12-26 Swanson Street		Postal address:	PO Box 6750 Wellesley Street
Town:	Auckland		Town:	Auckland
Zip/postal code:	1141		Zip/postal code:	1141
Country:	New Zealand
Telephone:	+64 (9) 2156611
Mobile phone:	+64 3779245
Fax:	+64 (9) 21345707 (Mr. Jacob Mani Mannothra)
Email:	info@zindia.co.nz jmannothra@xtra.co.nz jacob@soundsforest.com sales@zindia.co.nz
Website:	www.zindia.co.nz
Remarks:	The Subject's registered address is: GREENLANE CHARTERED ACCOUNTANT LTD 280 Great South Road, Greenlane 1051 Auckland New Zealand

EXECUTIVE SUMMARY

Date registered:	14-06-2004
Legal form:	Private Limited Liability Company
Sales turnover:	NZD 20,000,000 (estimated 12 months, 31-03-2014)
Main activities:	Trading of logs and lumber.
Employees:	Less than 5

REGISTRY DATA
Key Facts
Date registered:	14-06-2004
Legal form:	Private Limited Liability Company
Registration no:	1521564
Registry auth.:	Registrar of Companies
Other reg.:	NZBN: 9429035352013
Registry status:	Live/Active

LEGAL FILINGS

Bankruptcy filings:	None
Court judgements:	None
Tax liens:	None
Other:	None

MANAGEMENT & STAFF
Key Managers
Name:	Gerald Hunt
Job title:	Director

Name:	Jacob Mannothra
Job title:	Director

Name:	Yogesh Jain
Job title:	Director

Staff
No of employees	Less than 5

BOARD OF DIRECTORS / OTHER APPOINTMENTS
Appointments
Name:	Gerald Hunt
Board function:	Director
Date appointed:	14/06/2004
Address:	148/a East Coast Road Milford, Auckland 0620 New Zealand

Name:	Jacob Mannothra
Board function:	Director
Date appointed:	14/06/2004
Address:	39b Gatman Street Birkdale, Auckland 0626 New Zealand

Name:	Yogesh Jain
Board function:	Director
Date appointed:	08/01/2013
Address:	C/O SITARAM FEROZILAL JAIN PVT.LTD. 1/38 Whs Kirti Nagar New Delhi, 110015 India

SHARE CAPITAL
Composition
Number/type:	3,000,000 shares

Shareholders/Owners

How Listed	Full List

Composition
Name:	Lali Jo Jacob Jacob Mannothra NAIR & ASSOCIATES TRUSTEE COMPANY LIMITED (Joint shareholding)
No. of shares:	1,500,000 shares
Address:	New Zealand

Name:	SOUNDS OF FOREST LIMITED
Address:	Level 8, Swanson House 12-26 Swanson Street Auckland, 1141 New Zealand

CORPORATE AFFILIATIONS
Structure
Name:	NAIR & ASSOCIATES TRUSTEE COMPANY LIMITED
Affiliation type:	Shareholder
Address:	GREENLANE CHARTERED ACCOUNTANTS LTD 280 Great South Road Greenlane, Auckland 1051 New Zealand

Name:	SOUNDS OF FOREST LIMITED
Affiliation type:	Shareholder
Address:	Level 8, Swanson House 12-26 Swanson Street Auckland, 1141 New Zealand

Name:	ZINDIA FORESTRY LIMITED
Affiliation type:	Associate
Address:	New Zealand
Comment:	Company number: 4208358 NZBN: 9429030387256 Incorporation Date: 11/01/2013

Name:	ZINDIA VENTURES LIMITED
Affiliation type:	Associate
Address:	New Zealand
Comment:	Company number: 5675568 NZBN: 9429041701805 Incorporation Date: 13/04/2015

BANKING & FINANCING
Charges & Mortgages	Time of Registration/PPSR Registration Date: 11-Apr-2012 12:59 Debtor Name ZINDIA LIMITED Financing Statement Registration No. FP1BD26938X79Z89 Debtor Reference Org Type: Company Incorporation No: 1521564 City/Town: AUCKLAND Collateral Type: All Present And After Acquired Personal Property ________________________________________ Time of Registration/PPSR Registration Date 12-Nov-2012 14:35 Debtor Name ZINDIA LIMITED Financing Statement Registration No. FV0D47946J229J8K Debtor Reference 176902 Org Type: Company Incorporation No: 1521564 City/Town: AUCKLAND Collateral Type: Goods - Other ________________________________________ Time of Registration/PPSR Registration Date 07-Sep-2015 11:52 Debtor Name ZINDIA LIMITED Financing Statement Registration No. FJ7MZ70997TP0425 Debtor Reference 3619 Org Type: Company Incorporation No: 1521564 City/Town: AUCKLAND Collateral Type: Goods - Other ________________________________________ Time of Registration/PPSR Registration Date 17-Feb-2016 13:36 Debtor Name ZINDIA LIMITED Financing Statement Registration No. F32R32G30A3D2314 Debtor Reference Org Type: Company Incorporation No: 1521564 City/Town: AUCKLAND Collateral Type: All Present And After Acquired Personal Property; Goods - Other _________________________________________ Time of Registration/PPSR Registration Date 03-Feb-2017 07:29 Debtor Name ZINDIA LIMITED Financing Statement Registration No. FP8H95989H0PN935 Debtor Reference Org Type: Company Incorporation No: 1521564 City/Town: AUCKLAND Collateral Type: All Present And After Acquired Personal Property; MONEY

FINANCIAL ACCOUNTS
Description
Required to file:	No
Source:	Industry Sources
Presentation:	Key figures provided below
Date of accounts:	31-03-2014
Currency:	New Zealand Dollar (NZD)
Exchange rate:	USD 1 = NZD 1.4 as of 04-10-2017

Summarised
	31-03-2014
Period:	12 months

Sales turnover:	20,000,000
Profit after tax:	500,000
Shareholders' equity:	2,775,000

OPERATIONS & HISTORY
Activities
Full description:	The subject is engaged in exporting logs and lumber to India. It also owns and manages over 6,000 acres of Radiata pine plantations in New Zealand.

Sales
Export:	India, China and Middle East

Trade Bodies	India New Zealand Business Council (INZBC)

PROPERTY & ASSETS
Premises	The Subject principally operates from premises located at the heading address, consisting of administrative offices.

PAYMENTS
Purchase Terms
Local:	Cash Credits 14-30 days
Imports:	Credits 30 days net

Sales Terms
Local:	Cash Credits 14-30 days
Exports:	Credits 30 days net

Debt Collections / Judgements	No negative information was found.

Payment Experience
Payment behaviour:	No Complaints

INVESTIGATIVE NOTES

Sources:		Interviews and material provided by the Subject Other official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.23
UK Pound	1	INR 89.71
Euro	1	INR 79.50
NZD	1	INR 47.12

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA

Report Prepared by :	SYL

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.