MIRA INFORM REPORT

Report No. :	507887
Report Date :	10.05.2018

IDENTIFICATION DETAILS

Name :	SHREERAJ DEVELOPER LLP
Registered Office :	807/808, B Wing, Hubtown Solaris, N S Phadke Marg, Opposite Telly Gully, Andheri (East), Mumbai – 400069, Maharashtra
Tel. No.:	91-22-26843911
Country :	India
Financials (as on) :	31.03.2017
Date of Establishment :	19.07.2010
Capital Investment :	0.000
LLPIN :	AAA-1843
IEC No.: [Import-Export Code No.]	Not Divulged
TIN No.:	Not Available
GSTN : [Goods & Service Tax Registration No.]	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 :	Construction activity. [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 :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a Limited Liability Partnership Firm established in the year 2010. It is engaged into Construction business. For the financial year 2017, the subject has not earned revenue from its operations. Rating is constrained on account of absence of operational revenue. Payment seems to be unknown. In view of aforesaid, the company can be considered for business dealings on fully and secured trade 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term : BB
Rating Explanation	Moderate risk of default.
Date	18.03.2018

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 10.05.2018

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. Sunil Vyas
Designation :	Purchase Manager
Contact No.:	91-22-26843911
Date :	10.05.2018

LOCATIONS

Registered Office :	807/808, B Wing, Hubtown Solaris, N S Phadke Marg, Opposite Telly Gully, Andheri (East), Mumbai – 400069, Maharashtra, India
Tel. No.:	91-22-26843911
Fax No.:	Not Available
E-Mail :	accounts@neumec.com

PARTNERS

As on 31.03.2018

Name :

Mr. Aditya Shyamsunder Chandak

Designation :

Designated Partner

Address :

808/807, 8th Floor, "B " Wing, Hubtown Solaris, N.S. Phadke Marg, Opposite Telli Gulli, Andheri (East), Mumbai -400069, Maharashtra, India

Date of Birth/Age :

09.02.1984

Date of Appointment :

01.01.2018

DPIN No.:

00181006

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U65922MH1992PTC069643	ADITYA HOUSING FINANCE PRIVATE LIMITED	15/07/2005	-
U45200MH1995PLC088632	SAROJ HOME MARKERS AND FINANCE LIMITED	30/09/2014	-
U45201MH2006PTC165932	CHANDAK REALTORS PRIVATE LIMITED	30/09/2011	-

LIST OF LLP

LLPIN/FLLPIN	LLP Name	Begin Date	End Date
AAC-9407	SAROJ LANDMARK REALTY LLP	19/11/2014	-
AAD-4373	CHANDAK LANDMARK LLP	24/02/2015	-

Name :

Mr. Abhay Shyam Sunder Chandak

Designation :

Designated Partner

Address :

808/807, 8th Floor, "B " Wing, Hubtown Solaris, N.S. Phadke Marg, Opposite Telli Gulli, Andheri (East), Mumbai -400069, Maharashtra, India

Date of Birth/Age :

02.08.1980

Date of Appointment :

01.01.2018

DPIN No.:

00181044

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U65922MH1992PTC069643	ADITYA HOUSING FINANCE PRIVATE LIMITED	15/07/2005	-
U45200MH1995PLC088632	SAROJ HOME MARKERS AND FINANCE LIMITED	30/09/2011	-
U70102MH2007PTC166974	ATMOSPHERE REALTY PRIVATE LIMITED	16/06/2011	-
U74999MH2008PTC186138	ESQUIRE SUITE PRIVATE LIMITED	30/09/2011	-
U45201MH2006PTC165932	CHANDAK REALTORS PRIVATE LIMITED	01/12/2006	-

List of LLP

LLPIN/FLLPIN	LLP Name	Begin Date	End Date
AAC-9407	SAROJ LANDMARK REALTY LLP	19/11/2014	-
AAD-4373	CHANDAK LANDMARK LLP	24/02/2015	-
AAK-8502	MAN CHANDAK REALTY LLP	13/10/2017	-

Name :

Mr. Govind Chhogaram Purohit

Designation :

Designated Partner

Address :

P - 8, Krishnanagar, 3 - C, Chandavarkar Road, Borivali (West), Mumbai- 400092, Maharashtra, India

Date of Appointment :

01.10.2011

DPIN No.:

03536237

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U22212MH2011PTC218773	NARAYAN PUBLICATION PRIVATE LIMITED	17/06/2011	-

Name :

Mr. Ghewarchand Hajarimal Jain

Designation :

Body Corporate DP Nominee

Address :

1301-A / 1401-A, Om Vikas Building CHS, 105-107, Walkeshwar Road, Mumbai -400006, Maharashtra, India

Date of Appointment :

08.10.2010

DPIN No.:

00229580

Other directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U45200MH1994PTC077862	NEW SIGHT BUILDERS PRIVATE LIMITED	28/09/2013	-
U45202MH2006PTC162482	PRARTHANA BUILDERS PRIVATE LIMITED	29/09/2011	-
U45201MH2007PTC173574	NEUMEC DEVELOPMENT & ALLIED SERVICES PRIVATE LIMITED	28/08/2007	-
U70101MH1994PTC076801	NEUMEC PROPERTIES PRIVATE LIMITED	25/02/1994	-
U70102MH2011PTC223931	NEUMEC SPORTS CITY PRIVATE LIMITED	15/11/2011	-

List of LLP

LLPIN/FLLPIN	LLP Name	Begin Date	End Date
AAA-1868	SHREERAJ REALTY LLP	23/07/2010	-

KEY EXECUTIVE

Name :	Mr. Sunil Vyas
Designation :	Purchase Manager

CONTRIBUTION DETAILS

As on 2017

Names of Persons	INR in Million
Govind Chhogaram Purohit	0.075
Chandak Realtors Private Limited, India	0.300
Neumec Development and Allied Services Private Limited, India	0.125
Total	0.500

BUSINESS DETAILS

Line of Business :	Construction activity. [Registered Activity]
Products :	Not Available
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 :

Information denied by the management

Bankers :

Banker Name	Not Divulged
Branch Address	--
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Auditors :	Not Divulged
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	--

CONTRIBUTION

After 2017

Total Obligation of contribution

INR 0.500 Million

As on 31.03.2017

Total Obligation of contribution

0.000

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017	31.03.2016	31.03.2015
SHAREHOLDERS FUNDS
1] Contribution received		0.000	0.500	0.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		0.000	0.500	0.500
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		63.568	63.919	51.182
3] Short term borrowing		0.000	113.796	40.827
TOTAL BORROWING		63.568	177.715	92.009
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		63.568	178.215	92.509
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.674	0.682	0.729
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	215.718	157.282	100.887
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	2.249	2.176	1.976
	Other Current Assets	0.082	0.000	0.000
	Loans & Advances	96.283	96.846	84.485
Total Current Assets		314.332	256.304	187.348
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	78.771	95.568
	Other Current Liabilities	121.114	0.000	0.000
	Provisions	130.324	0.000	0.000
Total Current Liabilities		251.438	78.771	95.568
Net Current Assets		62.894	177.533	91.780
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		63.568	178.215	92.509

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	0.000	0.000	0.000
	Other Income	0.119	0.000	0.000
	TOTAL	0.119	0.000	0.000
Less	EXPENSES
	Raw material consumed	0.000	4.458	0.073
	Increase /(Decrease) in stocks (Including for raw materials, work in progress and finished goods)	(215.718)	(56.394)	(10.997)
	Power and fuel	0.000	0.119	0.050
	Selling expenses	0.000	0.410	0.045
	Administrative Expenses	12.184	0.000	0.000
	Payment to auditors	0.000	0.025	0.025
	Other expenses	203.524	45.597	9.508
	TOTAL	(0.010)	(5.785)	(1.296)
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.129	5.785	1.296
Less	INTEREST	0.000	5.680	1.195
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.129	0.105	0.101
Less/ Add	DEPRECIATION/ AMORTISATION	0.129	0.105	0.101
	PROFIT/ (LOSS) BEFORE TAX	0.000	0.000	0.000
Less	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	0.000	0.000	0.000

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	0.00	0.00	0.00
Account Receivables Turnover (Income / Sundry Debtors)	0.00	0.00	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00	6449.40	477840.00
Inventory Turnover (Operating Income / Inventories)	0.00	0.04	0.01
Asset Turnover (Operating Income / Net Fixed Assets)	0.19	8.48	1.78

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	1.00	1.00	1.00
Debt Equity Ratio (Total Liability / Networth)	0.00	355.43	184.02
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.00	385.13	272.79
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00	1.36	1.46
Interest Coverage Ratio (PBIT / Financial Charges)	0.00	1.02	1.08

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.00	0.00	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.00	0.00	0.00
Return on Investment (ROI) ((PAT / Networth) * 100)	%	0.00	0.00	0.00

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.25	1.33	1.37
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.39	0.51	0.63
G-Score Ratio Financial (Networth / Total Assets)	0.00	0.00	0.00
G-Score Ratio Debt (Debts / Equity Capital)	0.00	355.43	184.02
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.25	1.33	1.37

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
Contribution received	0.500	0.500	0.000
Reserves & Surplus	0.000	0.000	0.000
Net worth	0.500	0.500	0.000
Secured Loans	0.000	0.000	0.000
Unsecured Loans	51.182	63.919	63.568
Short term borrowing	40.827	113.796	0.000
Total borrowings	92.009	177.715	63.568
Debt/Equity ratio	184.018	355.430	0.000

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	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 last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	No
31	External Agency Rating, if available	Yes
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 CHARGE: 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 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 67.38
UK Pound	1	INR 91.09
Euro	1	INR 79.75

INFORMATION DETAILS

Information Gathered by :	SAV
Analysis Done by :	VAR
Report Prepared by :	KVT

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.