MIRA INFORM REPORT

Report No. :	507435
Report Date :	11.05.2018

IDENTIFICATION DETAILS

Name :	JAIN ELECTRICALS
Registered Office :	9, Munney Lal Dharmsala, Pandariba Road, Charbagh, Lucknow – 226004, Uttar Pradesh
Mobile No.:	91-9335202646 (Mr. Sanjay Jain) 91-9415426151 (Mr. Saurabh)
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment :	2007
Capital Investment :	INR 13.246 Million
IEC No.: [Import-Export Code No.]	Not Divulged
TIN No.:	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
PAN No.: [Permanent Account No.]	AAFFJ7355J
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Trader, Dealer and Distributor of Electrical Goods like Home Appliances, Electrical Building Fitting like Cable, Switch Light, MCB Fan etc. [Confirmed by Management]
No. of Employees :	20 [Approximately]

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 37900 [INR 2549172.95]
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Exists

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

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 31-03-2018.

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 11.05.2018

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 PARTED BY [PARTIAL DETAILS]

Name :	Mr. Sanjay Jain
Designation :	Partner
Contact No.:	91-9335202646
Date :	06.05.2018

LOCATIONS

Registered Office :	9, Munney Lal Dharmshala, Pandariba, Road Lucknow, Charbagh, Lucknow-226004, Uttar Pradesh, India
Tel. No.:	91-522-4109686
Mobile No.:	91-9335202646 (Mr. Sanjay) 91-9415426151 (Mr. Saurabh Kumar Jain )
Fax No.:	Not Available
E-Mail :	jainelectricals_lko@gmail.com
Area :	1500 Sq. Ft
Locality:	Commercial [As per Site Visit]
Showroom:	76/9, Gurudwara Road, Naka Hindola, Lucknow, Uttar Pradesh, India
Area:	1500 (Sq. Ft.)
Locality:	Commercial

PARTNERS

Name :	Mr. Sanjay Kumar Jain
Designation :	Partner
Address :	Uttar Pradesh, India
PAN:	AAFFJ7355J
Name :	Mr. Saurabh Kumar Jain
Designation :	Partner
Address :	Uttar Pradesh, India
PAN:	AFSPJ5631H
Name :	Mrs. Anu Jain
Designation :	Partner
Address :	Uttar Pradesh, India
PAN:	ABNPJ0908N
Name :	Mrs. Manju Jain
Designation :	Partner
Address :	Uttar Pradesh, India
PAN:	ABNPJ0903H

BUSINESS DETAILS

Line of Business :	Trader, Dealer and Distributor of Electrical Goods like Home Appliances, Electrical Building Fitting like Cable, Switch Light, MCB Fan etc. [Confirmed by Management]
Products/ Services :	· Home Appliances · Electrical Building Fitting · Cable · Switch Light · MCB Fan etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit (30 Days)
Purchasing :	Cash and Credit (30, 90 Days)

GENERAL INFORMATION

Suppliers :

Reference:	Anchor
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Retailers

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
Person Name (with Designation):	--
Contact Number:	--
Name of Account Holder:	--
Account Number:	--
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	--

No. of Employees :

20 [Approximately]

Auditors :
Name :	Shyam Lall Mandhyan and Company Chartered Accountants
Address:	Aakriti Tower, First Floor, 19 Vidhan Sabha Marg, Lucknow-226001, Uttar Pradesh, India
Mobile No.:	91-9415004430
Tel No.:	91-522-2237426
Email :	slmandhyan@gmail.com
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern:	Jain Agencies

CAPITAL STRUCTURE

AS ON: 31.03.2017

Partners Capital :	INR in Million
Anu Jain	2.888
Manju Jain	4.721
Sanjay Kumar Jain	2.111
Saurabh Jain	3.526
Total	13.246

FINANCIAL ANALYSIS

[all figures are in INR Million]

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
SHAREHOLDERS FUNDS
1] Partners Capital		13.246
2] Reserves & Surplus		0.000
NETWORTH		13.246
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.208
TOTAL BORROWING		0.208
DEFERRED TAX LIABILITIES		0.000
TOTAL		13.454
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.939
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	19.261
	Sundry Debtors	10.156
	Cash & Bank Balances	5.203
	Other Current Assets	0.038
	Loans, Advances and Deposits	0.599
Total Current Assets		35.257
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	22.056
	Other Current Liabilities and Provisions	0.686
Total Current Liabilities		22.742
Net Current Assets		12.515
MISCELLANEOUS EXPENSES		0.000
TOTAL		13.454

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017
	SALES
		Sales	133.942
		Other Income	6.455
		TOTAL	140.397
Less	EXPENSES
		Cost of Goods Sold	132.016
		Advertisement	0.017
		Audi Fee	0.017
		Commission on sales	0.670
		Cartage outward	0.157
		Conveyance	0.221
		Computer Repair and Maintenance	0.077
		Discount	0.019
		Electricity Expenses	0.235
		Entertainment Expenses	0.104
		Festival Expenses	0.143
		Generator Maintenance	0.041
		House Tax	0.045
		Insurance	0.041
		Miscellaneous Expenses	0.078
		Postage	0.068
		Printing and Stationery	0.076
		Packing Expenses	0.086
		Remuneration to partner	1.192
		Repairs and maintenance	0.127
		Rent	0.048
		Legal Expenses	0.043
		Salary to Staff	1.676
		Sales Promotion	0.146
		Shop expenses	0.152
		Scooter Running Expense	0.083
		Staff Welfare	0.229
		Telephone and Mobile Expenses	0.107
		Tours and Travelling expense	0.406
		Water Tax	0.045
		Vat Adjustment	0.087
		Round Off	0.001
		Bank Charges	0.062
		TOTAL	138.515
	PROFIT/ (LOSS) BEFORE INTEREST AND DEPRECIATION AND AMORTISATION		1.882
Less	FINANCIAL EXPENSES		1.116
	PROFIT / (LOSS) BEFORE, DEPRECIATION AND AMORTISATION		0.766
Less/ Add	DEPRECIATION/ AMORTISATION		0.121
	NET PROFIT/ (LOSS)		0.645

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	27.68
Account Receivables Turnover (Income / Sundry Debtors)	13.19
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	60.98
Inventory Turnover (Operating Income / Inventories)	0.10
Asset Turnover (Operating Income / Net Fixed Assets)	2.00

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.63
Debt Equity Ratio (Total Liability / Networth)	0.02
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.73
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.07
Interest Coverage Ratio (PBIT / Financial Charges)	1.69

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	0.48
Return on Total Assets ((PAT / Total Assets) * 100)	%	1.78
Return on Investment (ROI) ((PAT / Networth) * 100)	%	4.87

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	1.54
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.70
G-Score Ratio Financial (Networth / Total Assets)	0.37
G-Score Ratio Debt (Debts / Equity Capital)	0.02
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.54

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

LEGAL CASES

Case Details
Case Type	Small Cause Court Suits
Filing No.	12407/2013     Filing date: 00-00-0000
Registration No.	428/2013     Registration date: 03-10-2013
Case code	201800124072013
CASE STATUS
First Hearing Date	04-12-2013
Next Hearing Date	07-10-2014
Purpose of Hearing	Hearing
Court No & Judge	9 - Civil Judge Senior Division
Petitioner(s) & Advocate(s)
Petitioner - Sri Shwetamber Jain Shbha Address - 36, Van Vihar, Near Ballupur Chowk, Dehra Dun. Advocate - Sri R.B. Agarwal
Respondent(s) & Advocate(s)
Respondent - Jain Electricals Address - 95/38, Tilak Road, Dehra Dun. Advocate -
ACTS
Under Act(s)	Code of Civil Procedure
Under Section(s)	O 39 R2A
Subject
LOWER COURT INFORMATION
Court No & Name	---
Case No & Year	---
Case Decision Date	---

History Of Case Hearing
Regn. No.	Judge	Business on Date	Hearing Date	Purpose of Hearing
428/2013	Civil Judge Senior Division		04-12-2013	Hearing
428/2013	Civil Judge Senior Division	04-12-2013	28-02-2014	Hearing
428/2013	Civil Judge Senior Division	28-02-2014	04-07-2014	Hearing
428/2013	Civil Judge Senior Division	04-07-2014	22-08-2014	Hearing
428/2013	Civil Judge Senior Division	22-08-2014	12-09-2014	Hearing
428/2013	Civil Judge Senior Division	12-09-2014	07-10-2014	Hearing

CCH1 PRL. CITY CIVIL and SESSIONS JUDGE

CASE DETAILS

Case Type: O.S.
Filing Number: 4178/2016Filing Date: 10-06-2016
Registration No.: 4213/2016Registration Date: 10-06-2016
Case Code: 205200041782016

CASE STATUS

First Hearing Date: 13th June 2016
Next Hearing Date: 14th July 2016
Stage of Case: SUMMONS
Court No. and Judge: 8-CCH19 VII ADDL. CITY CIVIL & SESSINS JUDGE

Petitioner and Advocate

1) M/S PASOLITE ELECTRICALS PVT LTD
    Address - OFFICE AT NO.7, 14TH CROSS, KILARI ROAD, BLORE-53, REP BY ITS GENERAL MANAGER, NAVEE, AGE 52 YRS.
    Advocate- SHYAMAPRASAD K V

Respondent and Advocate

1) JAIN ELECTRICALS
    Address - NO. 29/48, GENERAL MUTHIA MUDAL STREET, SOWCARPET, CHENNAI, REP BY ITS PARTNER JITHENDRA KUMAR.

Acts

Under Act(s)	Under Section(s)
U/O 7 RULE 1 AND 2 AND R/W SEC 26 OF CPC	.

History of Case Hearing

Registration No.	Judge	Business On Date	Hearing Date	Purpose of hearing
4213/2016	CCH19 VII ADDL. CITY CIVIL & SESSINS JUDGE	13-06-2016	14-07-2016	SUMMONS

CHIEF JUDICIAL MAGISTRATE

Case Details

Case Type: Complaint Cases
Filing Number: Filing Date: 00-00-0000
Registration No.: 3400675/2002Registration Date: 04-02-2002
Case Code: 

Case Status

First Hearing Date: 04th April 2016
Next Hearing Date: 15th November 2016
Stage of Case: Appearance
Court No. and Judge: 34-Addl. Chief Judicial Magistrate Court No. 2

Petitioner and Advocate

1) State Government
    Address - ALLAHABAD

Respondent and Advocate

1) JAIN ELECTRICALS
    Address - ALLAHABAD

Acts

Under Act(s)	Under Section(s)
Standards of Weights and Measures Act	34/59
FIR Details

Police Station: CIVIL LINES
FIR No: 
Year: 0

History of Case Hearing

Registration No.	Judge	Business On Date	Hearing Date	Purpose of hearing
3400675/2002	Addl. Chief Judicial Magistrate Court No. 2	04-04-2016	27-06-2016	Appearance
3400675/2002	Addl. Chief Judicial Magistrate Court No. 2	27-06-2016	08-09-2016	Appearance
3400675/2002	Addl. Chief Judicial Magistrate Court No. 2	08-09-2016	15-11-2016	Appearance

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	Yes
5	Buyer visit details	Yes
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	No
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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
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	Yes
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OBSERVATION POINTS

Name of Company :	JAIN ELECTRICALS
Address :	9, Munni Lal Dharmsala, Pandariba Road, Charbagh, Lucknow – 226004, Uttar Pradesh, India
Contact No.:	91-522-2637769
Email :	jainelectricalslko@rediffmail.com
Person to whom we met:	Mr. Rishabh [Manager]
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	Opposite Bharat Dairy
Total Floors of the Building :	Ground + 1 Floor
Subject situated on:	Ground Floor
Locality:	Commercial
Area of Premises:	1500 Sq. Ft.
Area :	Neutral
No. of employees seen at premises:	02 [Approximately]
Visibility of Items:	· Telephone · Office Equipment
Proof of visit:	Photos 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 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	Indian Rupees
US Dollar	1	INR 66.38
UK Pound	1	INR 91.39
Euro	1	INR 79.89

INFORMATION DETAILS

Information Gathered by :	PNM
Analysis Done by :	VAR
Report Prepared by :	RUP

SCORE FACTORS

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

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