MIRA INFORM REPORT

Report No. :	494996.2
Report Date :	09.03.2018

IDENTIFICATION DETAILS

Name :	STAR ENTERPRISES
Registered Office :	P-95/11, Near Mohata Devi Mandir, Bajaj Nagar, MIDC, Waluj, Aurangabad – 431001, Maharashtra
Mobile No.:	91-9545841100 (Mr. Mahesh)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation/ Year of Establishment :	Not Divulged
Capital Investment / Paid-up Capital :	Not Divulged
IEC No.: [Import-Export Code No.]	Not Divulged
TIN No.:	27970763823
GSTIN : [Goods & Service Tax Registration No.]	27AKBPT5065H1ZX
PAN No.: [Permanent Account No.]	AKBPT5065H
Legal Form :	Sole Proprietary Concern
Line of Business :	Not Divulged
No. of Employees :	Not Divulged

RATING & COMMENTS

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

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Moderate
Payment Behaviour :	--
Litigation :	--
Comments :	Mr. Mahesh (Accountant) has denied to provide any information about the subject to us. However, as per information gathered from other sources subject is a proprietorship concern. No other information could be made available from any other sources. Payment seems to be unknown. In view of absence of requisite information we recommended business dealings on safe and secured trade terms conditions. Note: Site visit was conducted at the address which you have provided. Our executive was unable to trace the subject on the given address. During the site visit, our executive visited till Mohata Devi Mandir but did not found the subject. Further our executive also enquired with neighbour companies (Jai Bhawani Chinese Hotel and M M Enterprises) but they are not aware about the subject. Our executive also enquired with local residence of bajaj nagar who stays from last 10 years but they are not aware about the subject. Furthermore, our executive visited at Aurangabad post office and met postman (Name not Divulged) who confirmed the given address but he is not aware about the subject and further he denied to provide any information. Location was difficult to find. Area seems to be neutral and we have not sighted subject’s name board.

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	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

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 31-03-2016.

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 09.03.2018

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. Mahesh
Designation :	Accountant
Contact No.:	91-9545841100
Date :	03.03.2018

LOCATIONS

Registered Office :	P-95/11, Near Mohata Devi Mandir, Bajaj Nagar, MIDC, Waluj, Aurangabad – 431001, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9545841100 (Mr. Mahesh)
Fax No.:	Not Available
E-Mail :	khawalemahesh72@gmail.com

SOLE PROPRIETOR

Name :	MS. Vaishali Bapurao Thakare
Designation :	Proprietor
Date of Birth/Age :	30.10.1978

KEY EXECUTIVES

Name :	Mr. Mahesh
Designation :	Accountant

BUSINESS DETAILS

Line of Business :	Not Divulged
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :

Not Divulged

Bankers :

Banker 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 :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Auditors :
Name :	V. S. Patil and Company Chartered Accountants
Address :	Aurangabad – 431001, Maharashtra, India
Membership No :	129101
Collaborators :	Not Available
Membership :	Not Available
Sister Concern :	--

CAPITAL STRUCTURE

CAPITAL ACCOUNT FOR THE YEAR ENDED 31.03.2017

(INR in Million)

Particulars	Amount	Particulars	Amount
Drawing	0.381	Balance b/d	8.033
Life Insurance premium	0.049	Bank Interest	0.001
India First Life Insurance	0.033	Interest on HT Infotech System	0.029
Tuition Fees	0.098	Interest on R.D. A/c	0.001
Reliance Life Insurance	0.075	Remuneration from HT Infotech System	0.165
		HT Infotech System Profit	0.189
Balance c/d	9.520	Net Profit	1.738
Total	10.155	Total	10.155

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
EQUITY AND LIABILITIES
1] Proprietor Capital		9.520
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		9.520
LOAN FUNDS
1] Secured Loans		4.875
2] Unsecured Loans		0.435
TOTAL BORROWING		5.310
DEFERRED TAX LIABILITIES		0.000
TOTAL		14.830
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.827
Capital work-in-progress		0.000
INVESTMENT		4.649
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.236
	Sundry Debtors	7.887
	Cash & Bank Balances	4.513
	Other Current Assets	2.837
	Loans & Advances	5.202
Total Current Assets		21.675
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	13.835
	Other Current Liabilities	0.000
	Provisions	0.486
Total Current Liabilities		14.321
Net Current Assets		7.354
MISCELLANEOUS EXPENSES		0.000
TOTAL		14.830

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017
	SALES
	Income	57.997
	Other Income	0.718
	TOTAL	58.715
Less	EXPENSES
	Cost of Materials Consumed	47.535
	Hamali Expense	0.215
	Transportation	0.834
	Fright and handling	0.127
	Wages	0.965
	Warrantee	0.798
	LBT	0.039
	Salary	1.952
	Rent	0.081
	Travelling	0.165
	Telephone	0.087
	Commission	0.573
	Audit Fess	0.024
	Courier Expense	0.064
	Electricity	0.032
	Inspection	0.058
	Professional tax	0.010
	Advertisement	0.031
	Office Expenses	0.218
	Staff Expenses	0.195
	Printing and Stationery	0.067
	Professional Fees	0.041
	Sales Promotion	0.359
	Tour Expense	1.018
	Repair and maintenance	0.132
	Petrol Expense	0.389
	Festival	0.130
	Insurance	0.029
	Discount	0.001
	Tender	0.070
	TOTAL	56.239
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2.476
Less	FINANCIAL EXPENSES	0.358
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	2.118
Less	DEPRECIATION/ AMORTISATION	0.380
	PROFIT/ (LOSS) FOR THE PERIOD	1.738

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

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Operating Income * 365 Days)	49.64
Account Receivables Turnover (Operating Income / Sundry Debtors)	7.35
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	106.23
Inventory Turnover (Operating Income / Inventories)	2.00
Asset Turnover (Operating Income / Net Fixed Assets)	0.88

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.67
Debt Equity Ratio (Total Liability / Networth)	0.56
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.55
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.30
Interest Coverage Ratio (PBIT / Financial Charges)	6.92

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	3.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	5.96
Return on Investment (ROI) ((PAT / Networth) * 100)	%	18.26

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.47
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.39
G-Score Ratio Financial (Networth / Total Assets)	0.33
G-Score Ratio Debt (Debts / Equity Capital)	0.56
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.47

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

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	No
2	Constitution of the entity – legal form	Yes
3	Locality of the entity	Yes
4	Premises details	Yes
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	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	No
14	Line of Business	No
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
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	No
26	Turnover of firm for last one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one year	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	No
35	Negative Reporting by Auditors in the Annual Report	No

OBSERVATION POINTS

Name :	STAR ENTERPRISES
Address :	P-95/11, Near Mohata Devi Mandir, Bajaj Nagar, MIDC, Waluj, Aurangabad – 431001, Maharashtra, India
Name Board:	Not Sighted
Location:	Difficult
Landmark :	Near Mohata Devi Mandir
Area:	Neutral
Neighbor’s Interview :
Name of Company 1:	Jai Bhawani Chinese Hotel
Neighbor’s Interview :	They are not aware about the subject
Name of Company 2:	M M Enterprises
Neighbor’s Interview :	They are not aware about the subject
Proof of visit:	Photographs and Visiting Card

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 64.92
UK Pound	1	INR 90.23
Euro	1	INR 80.54

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	VAR
Report Prepared by :	TRUP

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.