MIRA INFORM REPORT

Report No. :	496623
Report Date :	15.03.2018

IDENTIFICATION DETAILS

Name :	ORAZONE PAPER PRIVATE LIMITED
Registered Office :	Survey No. 386P2 and 386P3, Opposite Ramdoot Petrol Pump Pipli Road, Village: Rangpar, Morbi – 363642, Rajkot
Mobile No.:	91-9909541010 (Mr. Bipinbhai Vadsola Meghajibhai)
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	28.06.2016
Com. Reg. No.:	04-092699
Capital Investment / Paid-up Capital :	INR 42.325 Million
CIN No.: [Company Identification No.]	U21000GJ2016PTC092699
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCO3366J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of paper and paper products. [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 :

C

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

Status :	Yet to commence its business operation
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is relatively new company incorporated in June 2016. It is engaged as manufacturer, processor, trader, buyer, seller, retailer and dealer of paper, board, pulp, writing paper and other paper products. The general financial position of the company is reflected by negative reserve level due to some pre-operating expenses which resulted into loss during the year 2017. However, the company has registered strong capital base. Business is active. Payments seems to be unknown. In view of aforesaid, the company can be considered for business dealings with fully safe and secured terms and conditions.

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

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 15.03.2018

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. Bipinbhai Vadsola Meghajibhai
Designation :	Director
Contact No.:	91-9909541010
Date :	14.03.2018

LOCATIONS

Registered Office :	Survey No. 386P2 and 386P3, Opposite Ramdoot Petrol Pump Pipli Road, Village: Rangpar, Morbi – 363642, Rajkot, India
Tel. No.:	Not Available
Mobile No.:	91-9909541010 (Mr. Bipinbhai Vadsola Meghajibhai)
Fax No.:	Not Available
E-Mail :	orazonepaper@gmail.com

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Sharadbhai Meghjibhai Vadsola

Designation :

Director

Address :

Sahyog Society, Ravapar Road, Morbi – 363641, Rajkot, Gujarat, India

Date of Birth/ Age :

05.11.1973

Date of Appointment :

22.09.2016

DIN No.:

01639545

PAN No.:

ADTPV3930E

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U26933GJ2010PTC061609	OZON VITRIFIED PRIVATE LIMITED	15/07/2010	-

Name :

Mr. Bipinbhai Vadsola Meghajibhai

Designation :

Director

Address :

3, Sahyog Society, Near Hanumanji Temple, Ravapar Road, Morvi – 363641, Gujarat, India

Date of Birth/ Age :

25.11.1977

Date of Appointment :

28.06.2016

DIN No.:

07551418

PAN No.:

ADTPV3932G

Name :

Mr. Mukesh Bhimani Babubhai

Designation :

Director

Address :

Plot-152, Alap Park, Street Number – 5, Ravapar Road, Morbi – 363641, Gujarat, India

Date of Appointment :

28.06.2016

DIN No.:

07551475

PAN No.:

ARJPB7061L

Name :

Mr. Kaushik Lalitbhai Vachhani

Designation :

Director

Address :

Block No. 6, Shubh Palace, Vardhman Nagar, Zanzarda Road, Junagadh – 362001, Gujarat, India

Date of Birth/ Age :

08.03.1979

Date of Appointment :

22.09.2016

DIN No.:

07620076

PAN No.:

ABXPV3282B

MAJOR SHAREHOLDERS

AS ON 31.03.2016

SHAREHOLDERS DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON 30.12.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of paper and paper products. [Registered Activity]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Manufacturer of paper and paper products	17013

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 :	Saurashtra Gramin Bank
Branch :	Opposite Radheshyam Provision Store, Ravapar Road, Morbi - 363641, Gujarat, India
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 :	Patel Soni Shah and Company Chartered Accountants
Address :	Krishna Complex, 1st Floor, 5/6 Lati Plot Main Road, Morbi – 363641, Gujarat, India
Tel. No.:	91-2822-228888
Fax No.:	91-2822-228889
PAN N Income-tax PAN of auditor or auditor's firm :	AAKFP7672H
Memberships :	Not Available
Collaborators :	Not Available
Related parties :	Sharadbhai Meghjibhai Vadsola – HUF Bipinbhai Vadsola Meghajibhai– HUF

CAPITAL STRUCTURE

After 30.12.2017

Authorised Capital : INR 65.000 Million

Issued, Subscribed & Paid-up Capital : INR 65.000 Million

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
5500000	Equity Shares	INR 10/- each	INR 55.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4232500	Equity Shares	INR 10/- each	INR 42.325 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	28.06.2016 to 31.03.2017
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	42.325
(b) Reserves & Surplus	(0.032)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	42.293
(3) Non-Current Liabilities
(a) long-term borrowings	20.177
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	20.177
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	5.277
(c) Other current liabilities	6.185
(d) Short-term provisions	0.040
Total Current Liabilities (4)	11.502
TOTAL	73.972
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.074
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	32.911
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	2.083
(e) Other Non-current assets	0.000
Total Non-Current Assets	36.068
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	1.978
(e) Short-term loans and advances	1.534
(f) Other current assets	34.392
Total Current Assets	37.904
TOTAL	73.972

PROFIT & LOSS ACCOUNT

	PARTICULARS	28.06.2016 to 31.03.2017
	SALES
	Income	0.000
	Other Income	0.015
	TOTAL	0.015
Less	EXPENSES
	Cost of Materials Consumed	0.000
	Purchases of Stock-in-Trade	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000
	Employees benefits expense	0.000
	Other expenses	0.000
	TOTAL	0.000
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.015
Less	FINANCIAL EXPENSES	0.047
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(0.032)
Less/ Add	DEPRECIATION/ AMORTISATION	0.000
	PROFIT/ (LOSS) BEFORE TAX	(0.032)
Less	TAX	0.000
	PROFIT/ (LOSS) AFTER TAX	(0.032)
	Earnings / (Loss) Per Share (INR)	(0.08)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	28.06.2016 to 31.03.2017
Current Maturities of Long term debt	6.179
Cash generated from operations	(24.424)
Net cash flows from (used in) operations	(24.424)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	28.06.2016 to 31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	0.00
Account Receivables Turnover (Income / Sundry Debtors)	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00
Inventory Turnover (Operating Income / Inventories)	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	0.00

LEVERAGE RATIOS

PARTICULARS	28.06.2016 to 31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.51
Debt Equity Ratio (Total Liability / Networth)	0.62
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.27
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.80
Interest Coverage Ratio (PBIT / Financial Charges)	0.32

PROFITABILITY RATIOS

PARTICULARS		28.06.2016 to 31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	(0.04)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(0.08)

SOLVENCY RATIOS

PARTICULARS	28.06.2016 to 31.03.2017
Current Ratio (Current Assets / Current Liabilities)	3.30
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	3.30
G-Score Ratio Financial (Networth / Total Assets)	0.57
G-Score Ratio Debt (Debts / Equity Capital)	0.62
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	3.30

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	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	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	Yes
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 about nine months	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last about nine months	Yes
30	Major shareholders, if available	Yes
31	Litigations that the firm/promoter involved in	--
32	Market information	--
33	Payments terms	No
34	Negative Reporting by Auditors in the Annual Report	No

STATE OF' COMPANY'S AFFAIRS:

The Company could not commence its commercial activities during the period under report. However, the Company has started construction of its Factory shed and installation of machineries, The Company is expected to commence its commercial production by end of Financial Year 2017 - 2018. The Company has incurred an Operating Loss of INR 0.032 Million during the year,

FUTURE OUTLOOK:

The Company is focused on profitable growth in the long-term and is considering taking steps to reduce costs of its products, development of new designs, improvement in quality of products and enhance profitability of its product. The Company believes in concentrating special attention for making its products competitive and be increasingly visible in the market. The Company believes in long-term relationship with clients and shall concentrate on their requirements. The customer centric approach will result in high levels of client satisfaction and retention.

UNSECURED LOANS:

(INR In Million)

Particulars	As on 31.03.2017
LONG TERM BORROWING
Saurashtra Gramin Bank Loan	14.924
HDFC Car Loan – Ertiga	0.560
HDFC Car Loan – Swift	0.343
Loans and advances from related parties Loan from directors relatives	4.350
Total	20.177

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	AMOUNT	ADDRESS
1	G47275730	100072566	SAURASHTRA GRAMIN BANK	13/01/2017	15/06/2017	168250000.0	OPP. RADHESHYAM PROVISION STORERAVAPAR ROADMORBIGJ363641IN

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 64.99
UK Pound	1	INR 90.83
Euro	1	INR 80.58

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	NIS
Report Prepared by :	KVT

SCORE FACTORS

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