MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	509093
Report Date :	14.05.2018

IDENTIFICATION DETAILS

Name :	ADINATH INDUSTRIES

Registered Office :	Plot No. E-45 (G-2) RIICO Industrial Area, Khushkhera Industrial Area, Bhiwandi Dist. Alwar – 301013, Rajasthan
Mob. No.:	9560394927 (Ms. Neetu)

Country :	India

Financials (as on) :	31.03.2018

Year of Establishment:	2007

Capital Investment / Paid-up Capital :	Not Divulged

TIN No.:	Not Available

IEC No.: [Import-Export Code No.]	Not Divulged

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

GSTN : [Goods & Service Tax Registration No.]	Not Divulged

PAN No.: [Permanent Account No.]	Not Divulged

Legal Form :	Partnership Concern with an Unlimited Liability of the Partners

Line of Business :	Manufacturer and Exporter of Power Distribution Insulator, Composite Surge Arresters. [Confirmed by management]

No. of Employees :	200 (Approximately)

RATING & COMMENTS

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

MIRA’s Rating :

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

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Exist

Comments :	Subject is a partnership firm established in the year 2007. It is a manufacturer and exporter of Power Distribution Insulator and Composite Surge Arresters. Ms. Neeta (Accounts Assistant) has claimed that the firm has achieved sales turnover of INR 225.000 Million for the year 2016, INR 257.000 Million for the year 2017 and INR 450.000 Million for the FY 2018 (which could not be verified). Business is active. Payment seems to be slow but correct. In view of aforesaid, the firm can be considered for business dealings at usual 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

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 31-03-2018.

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 14.05.2018.

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

Name :	Ms. Neeta
Designation :	Assistant Accountant
Contact No.:	91-9560394927
Date :	11.05.20118

LOCATIONS

Registered Office / Plant I :	Plot No. E-45 (G-2) RIICO Industrial Area, Khushkhera Industrial Area, Bhiwandi Dist. Alwar – 301013, Rajasthan, India
Tel. No.:	Not Available
Mobile No.:	91-9560394927 (Ms. Neetu)
Fax No.:	Not Available
E-Mail :	adinathindustries@gmail.com

Plant II :	Plot No. 224, Sector 7, SIDCUL Industrial Area, Haridwar, Uttarakhand – 249403, India

Branch Office :	31, Rajendra Park, Pusa Road, Delhi – 110060, India

Correspondence Office :	C-9/2, DLF City, Phase – I, Sukhchaen Marg, Gurugram – 122002, Haryana, India

PARTNERS

Name :	Mr. Deepak Jain
Designation :	Partner

Name :	Ms. Malti Jain
Designation :	Partner

Name :	Mr. Gaurav Jain
Designation :	Partner

Name :	Mr. Gautam Jain
Designation :	Partner

Name :	Mr. Ashok Jain
Designation :	Partner

KEY EXECUTIVES

Name :	Ms. Neetu
Designation :	Assistant Accountant

Name :	Mr. Vikas
Designation :	Marketing Manager

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Power Distributor Insulator, Composite Surge Arresters. [Confirmed by management]

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :
Products :	Power Distributor Insulator Composite Surge Arresters
Countries :	Bangladesh Nepal

Imports :	Not Divulged

Terms :
Selling :	Advance Payment, L/C, Cheque and Credit (30 days)

Purchasing :	Advance Payment, L/C, Cheque and Credit (30 days)

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Government Agency

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

200 (Approximately)

Bankers :

Bank Name	Bank of India
Branch	New Delhi, India
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 :
Name :	V. Sachdeva and Company Chartered Accountants
Address :	New Delhi, India

Memberships :	Not Available

Collaborators :	Not Available

Sister Concern:	Not Available

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	--
Total :	Not Divulged

FINANCIAL DATA

[all figures are in INR Million]

Particulars

31.03.2018

31.03.2017

31.03.2016

Sales Turnover (Approximately)

450.000

257.000

225.000

The above information has been parted by Ms. Neetu (Assistant Accountant).

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017	31.03.2018
	INR In Million	INR In Million	INR In Million
Sales	225.000	257.000	450.000
		14.222	75.097

LEGAL CASES

CIVIL COURT, VADODARA

Case Details

Case Type: CR EN

Filing Number: 1968/2015Filing Date: 29-12-2015

Registration No.: 1968/2015Registration Date: 29-12-2015

CNR NO: GJVD02-069391-2015

Case Status

First Hearing Date: 01st February 2016

Next Hearing Date: 01st February 2016

Stage of Case: EVIDENCE OF COMPLAINANT

Court No. and Judge: 5-ADDL. SR. CIVIL JUDGE & A.C.J.M.

Petitioner and Advocate

1) AMOD STAMPING PVT. LTD. THROUGH GAURAV NARESHKUMAR BHATT

Address - PO SAMALIYA, PADRA ROAD, TA AND DIST VADODARA

Advocate- S H PATEL

Respondent and Advocate

1) ADINATH INDUSTRIES

Address - H/499, MATSYA INDUSTRIAL ARAE, ALWAR RAJASTHAN

2) TRILOK CHAND JAIN – DIRECTOR

H/499, MATSYA INDUSTRIAL ARAE, ALWAR RAJASTHAN

3) PRATIK TRILOK JAIN

H/499, MATSYA INDUSTRIAL ARAE, ALWAR RAJASTHAN

4) BHUVNESH TRILOK JAIN

H/499, MATSYA INDUSTRIAL ARAE, ALWAR RAJASTHAN

Acts

Under Act(s)	Under Section(s)
NEGOTIABLE INSTRUMENTS ACT, 1881	138

CHIEF JUDICIAL MAGISTRATE, FARIDABAD

Case Details

Case Type: Nact

Filing Number: 17710/2015Filing Date: 23-12-2015

Registration No.: 5826/2015Registration Date: 24-12-2015

Case Code: 205600177102015

Case Status

First Hearing Date: 24th December 2015

Next Hearing Date: 03rd May 2016

Stage of Case: Appearance

Court No. and Judge: 18-Judicial Magistrate - Ist Class

Petitioner and Advocate

1) POWER CONSULTING ENGINEERS PVT LTD

Address - 1494 GATE NO 3 SECTOR 28 FARIDAABD

Advocate- RAJIV RANA

Respondent and Advocate

1) SHREE ADINATH INDUSTRIES

Address - H 499 MIA ALWAR RAJASTHAN

Acts

Under Act(s)

Under Section(s)

Negotiable Instruments Act

138

FIR Details

Police Station: SECTOR-31 FARIDABAD

FIR No: COMPLAINT

Year: 0

History of Case Hearing

Registration No.	Judge	Business On Date	Hearing Date	Purpose of hearing
5826/2015	Judicial Magistrate - Ist Class	24-12-2015	25-02-2016	Appearance
5826/2015	Judicial Magistrate - Ist Class	25-02-2016	03-05-2016	Appearance

Orders

Order No.	Order Date	Order Details
1	24-12-2015	Copy of order
2	25-02-2016	Copy of order

Civil Judge Senior Division

Case Details

Case Type: Civil Misc.reg.no.74

Filing Number: 1452/2016Filing Date: 23-11-2016

Registration Number: 437/2016Registration Date: 24-11-2016

CNR Number: UPME05-001675-2016

Case Status

First Hearing Date: 30th November 2016

Next Hearing Date: 04th February 2017

Stage of Case: Admission

Court Number and Judge: 33-Addl. Civil Judge (SD) C. No.2

Petitioner and Advocate

1) Ms Jindal Traders

Address - F 216 Madavpuram Meerut

Advocate- RAM KISHORE GIRI

Respondent and Advocate

1) Ms Adinath Industries

Address - F 488 Matasya Industrial area Alwar Rajsthan

Acts

Under Act(s)	Under Section(s)
Code of Civil Procedure	9(4)

History of Case Hearing

Registration Number	Judge	Business On Date	Hearing Date	Purpose of hearing
437/2016	Addl. Civil Judge (SD) C. No.2	30-11-2016	23-12-2016	Admission
437/2016	Addl. Civil Judge (SD) C. No.2	23-12-2016	04-02-2017	Admission

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 – Legal Form	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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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)	Yes
16	No. of employees	Yes
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	No
25	Last accounts filed at ROC, if applicable	No
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	No
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

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 67.22
UK Pound	1	INR 90.88
Euro	1	INR 80.09

INFORMATION DETAILS

Information Gathered by :	SHI

Analysis Done by :	VAR

Report Prepared by :	JYO

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.