MIRA INFORM REPORT

Report No. :	497984
Report Date :	22.03.2018

IDENTIFICATION DETAILS

Name :	HARIKRUPA PAPERS LLP
Registered Office :	Survey No. 91p1, 91p2 and 91p3, Kandla Highway, Village - Gala, Morbi - 363630 , Gujarat
Tel. No.:	91-2822-293493
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	14.06.2016
LLPIN :	AAG-6492
Total Obligation of Contribution:	INR 100.000 Million
IEC No.:	Not Applicable (As informed by the management that firm does not have export and import)
GSTIN :	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Limited Liability Partnership
Line of Business :	Manufacturing and Packaging Kraft Paper and Absorbent Craft Paper. (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 280
Status :	Yet to commence its business operation
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a limited liability partnership concern established on 14^th June 2016 and it yet to commence its business operation. Management has denied to provide any information about the subject. However, as per indirect sources We could find that the subject is engaged into manufacturing of kraft paper. As per available financial of march 2017, the firm has reported comfortable capital base and strong debt protection metrics along with healthy cash accruals. In view of aforesaid, the company 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 (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 22.03.2017

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. Bhavik Bhatt
Designation :	Director
Contact No.:	91-9825899930
Date :	20.03.2018

LOCATIONS

Registered Office :	Survey No. 91p1, 91p2 and 91p3, Kandla Highway, Village - Gala, Morbi - 363630 , Gujarat, India
Tel. No.:	91-2822-293493
Mobile No.:	91-9825899930 (Mr. Bhavik Bhatt)
Fax No.:	Not Avaialble
E-Mail :	harikrupapapers@gmail.com sales@harikrupapapers.com purchase@harikrupapapers.com kkmanlar7500@gmail.com madhuind@hotmail.com vikram.ashar@imperus.in
Website :	http://www.harikrupapapers.com
Plant :	Survey No. 91, 8 A National Highway, Near Pravin Buildtech Private Limited, Village - Gala, Morbi - 363642 , Gujarat, India

PARTNERS

As on: 31.03.2017

Name :

Mr. Bhavik Madhukantbhai Bhatt

Designation :

Designated Partner

Address :

23, Milanpark Society, Shobeshwar Road, District: Rajkot, Morbi – 363642, Gujarat, India

Date of Birth/Age :

04.09.1984

Date of Appointment :

14.06.2016

DPIN No.:

00328556

PAN :

AJAPB8618D

Name :

Mr. Chandrakant Narandas Ashar

Designation :

Designated Partner

Address :

Milan Park, Bl-20, District: Rajkot, Morbi – 363642, Gujarat, India

Date of Birth/Age :

14.11.1940

Date of Appointment :

14.06.2016

PAN :

ABQPA8645L

DPIN No.:

03086964

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U26933GJ2010PTC061005	SANFORD VITRIFIED PRIVATE LIMITED	05/06/2010	-
U36100TN2013PTC090350	PUPA SANITARY INDUSTRIES PRIVATE LIMITED	06/03/2017	-

Name :

Mr. Kalpesh Kanaiyalal Maniyar

Designation :

Designated Partner

Address :

Krushna Nivas, Luhar Srteet, Kuber Nath Road, Green Chowk, Morbi – 363641, Gujarat, India

Date of Birth/Age :

20.09.1984

Date of Appointment :

14.06.2016

DPIN No.:

06536854

PAN :

AVCPM3816M

Name :

Ms. Ashaben Chandrakant Ashar

Designation :

Partner

Address :

20, Milan Park Society, Same Kanthe, Morbi – 363641, Rajkot, Gujarat, India

Date of Birth/Age :

07.06.1945

PAN :

ABQPA8644M

Name :

Mr. Harshad Vinodrai Ashar

Designation :

Partner

Address :

704-Chitralekha Appartment, 150 Feet Ring Road, Near K.K.V. Hall, Rajkot- 360001, Gujarat, India

Date of Birth/Age :

27.03.1969

PAN :

ABFPA8026N

Name :

Mr. Tejas Dharamshibhai Chhichhia

Designation :

Partner

Address :

3rd Floor, Gitanjali Appartment, 9 Jagnath Plot, Near Jagnath Temple, Rajkot – 360001, Gujarat, India

Date of Birth/Age :

06.09.1970

Name :

Mr. Parimal Narandas Ashar

Designation :

Partner

Address :

Kayaji Plot, Opp. Petrol Pump, Sanala Road,, Morbi – 363641, Gujarat, India

Date of Birth/Age :

02.09.1952

PAN :

ABQPA8646K

Name :

Mr. Ruchit Parimal Ashar

Designation :

Partner

Address :

Dr. Ahsar Hospital, 8- Kayaji Plot, Sanala Road, Morbi – 363641, Gujarat, India

Date of Birth/Age :

06.10.1986

PAN :

AITPA2674B

Name :

Ms. Jayshreeben Madhukant Bhatt

Designation :

Partner

Address :

23, Milan Park Society, Shobheshwar Road, Morbi – 363642, Gujarat, India

Date of Birth/Age :

19.04.1960

PAN :

ACGPB7599B

Name :

Mr. Hemanshu Bhupendra Bhatt

Designation :

Partner

Address :

Rajheet, Kayaji Plot, Sanala Road, Morbi – 363641, Gujarat, India

Date of Birth/Age :

04.02.1977

PAN :

AFCPB7363Q

Name :

Ms. Manjulaben Bhagvanjibhai Jethaloja

Designation :

Partner

Address :

Naklank Park Chitrakut - 1, B/H. Gidc, Tapovan Vidhvalay Road, Morbi - 363641, Gujarat, India

Date of Birth/Age :

12.04.1968

PAN :

ANDPJ2880M

Name :

Mr. Sunilkumar Shivlalbhai Amrutiya

Designation :

Partner

Address :

Hariompark, Rawapar, Kenal Road, Morbi – 363641, Gujarat, India

Date of Birth/Age :

01.05.1980

PAN :

AJCPA7035N

Name :

Mr. Pareshbhai Rasiklal Maniyar

Designation :

Partner

Address :

Luhar Street, Kubernath Road, Morbi – 363641, Gujarat, India

Date of Birth/Age :

14.06.1970

PAN :

BMJPM3275P

Name :

Mr. Hardik Anilbhai Maniyar

Designation :

Partner

Address :

Hardhol Sheri, Near Paresh Pan, Bedinaka Road, Rajkot, Gujarat, India

Date of Birth/Age :

29.02.1988

PAN :

AOUPM0207K

Name :

Mr. Govindbhai Pragjibhai Tank

Designation :

Partner

Address :

Somnath Society, Ravapar Road, Morbi – 363641, Gujarat, India

Date of Birth/Age :

07.06.1950

PAN :

AAXPT1972H

OBLIGATION DETAILS

As on: 31.03.2017

Names of Parson	Obligation of Contribution (INR In Million)
Govindbhai Pragjibhai Tank	0.003
Hardik Anilbhai Maniyar	0.004
Pareshbhai Rasiklal Maniyar	0.003
Sunilkumar Shivlalbhai Amrutiya	0.008
Manjulaben Bhagvanjibhai Jethaloja	0.005
Hemanshu Bhupendra Bhatt	0.005
Parimal Narandas Ashar	0.010
Tejas Dharamshibhai Chhichhia	0.001
Harshad Vinodrai Ashar	0.001
Ashaben Chandrakant Ashar	0.005
Ruchit Parimal Ashar	0.009
Jayshreeben Madhukant Bhatt	0.010
Kalpesh Kanaiyalal Maniyar	0.020
Chandrakant Narandas Ashar	0.006
Bhavik Madhukantbhai Bhatt	0.010
Total	0.100

BUSINESS DETAILS

Line of Business :	Manufacturing and Packaging Kraft Paper and Absorbent Craft Paper. (Registered Activity)
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
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 :	HDFC Bank Limited
Branch :	HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai -400013, Maharashtra, 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 :	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)
Long-term Borrowings
HDFC Bank Term loan (Hypothecation of plant & machineries& EM of factory land & building)	13.145
Total	13.145

Auditors :

Name :

Dhamsaniya Rajdev and Associates

Chartered Accountants

Address :

3, 3^rd Floor, Shivam Complex, 2-Daudi Plot, Ravapar Road, Morbi – 363641, Gujarat, India

E-Mail :

ca.drassociates@gmail.com

Memberships No :

137919

Memberships :

Not Available

Collaborators :

Not Available

Associates/Subsidiaries :

Not Available

CAPITAL STRUCTURE

As on 31.03.2017

Total Obligation of contribution Fund: INR 0.100 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.100
LOAN FUNDS
1] Secured Loans		13.145
2] Unsecured Loans		0.000
TOTAL BORROWING		13.145
DEFERRED TAX LIABILITIES		0.000
TOTAL		13.245
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	9.219
	Other Current Assets	53.711
	Loans & Advances	13.026
Total Current Assets		75.956
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.404
	Other Current Liabilities	57.300
	Provisions	0.007
Total Current Liabilities		62.711
Net Current Assets		13.245
MISCELLANEOUS EXPENSES		0.000
TOTAL		13.245

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017
Current Maturities of Long term debt	NA
Cash generated from operations	(4.297)
Net Cash flows from operating activities	(4.297)

KEY RATIOS

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	1.00
Debt Equity Ratio (Total Liability / Networth)	185.49
Current Liabilities to Networth (Current Liabilities / Net Worth)	627.11
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.21
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.21
G-Score Ratio Financial (Networth / Total Assets)	0.00
G-Score Ratio Debt (Debts / Equity Capital)	185.49
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.21

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	Yes
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	No
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	No
26	Turnover of firm for last one year	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one year	No
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

INDEX OF CAHREGS:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Amount	Address
1	M03407145	100082654	HDFC BANK LIMITED	28/02/2017	22/03/2017	145500000.0	HDFC BANK HOUSE, SENAPATI BAPAT MARG LOWER PAREL W MUMBAI MUMBAI CITY MH 400013 IN

FIXED ASSETS:

Tangible Assets

• Factory
• building
• computer
• Plant and Machinery
• Tractor
• Maruti Eco Car
• Bike Scooter
• Water Dispenser

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 65.20
UK Pound	1	INR 91.49
Euro	1	INR 80.46

INFORMATION DETAILS

Information Gathered by :	SHR
Analysis Done by :	NIS
Report Prepared by :	TRUP

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	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.