MIRA INFORM REPORT

Report No. :	508540
Report Date :	14.05.2018

IDENTIFICATION DETAILS

Name :	GOYAL AND CO (CONSTRUCTIONS) PRIVATE LIMITED
Registered Office :	10th Floor, Commerce House - 4, Beside Reliance Petrol Pump, 100 FT Road, Prahladnagar, Satellite, Ahmedabad – 380015, Gujarat
Tel. No.:	91-79-26931679
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	06.06.1988
Com. Reg. No.:	04- 010799
Capital Investment / Paid-up Capital :	INR 31.380 Million
CIN No.: [Company Identification No.]	U45201GJ1988PTC010799
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	24AABCG5459R2Z0
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCG5459R
Legal Form :	Private Limited Liability Company
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 :

A

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

Maximum Credit Limit :	USD 9200000
Status :	Good
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1988 having good track records. For the financial year ended 2017, revenue and profit of the company has marginally decline. However, it has been able to achieved decent profit margin at 62% (approx.) The company possesses sound financial profile marked by strong net worth base along with low debt level of the company. The company also derives strength from its long standing track record of business operations. However, the rating strength is partially offset by highly competitive real estate business. Trade relations are reported as fair. Business is active. Payment terms are seems to be slow but correct. In view of the aforesaid, the company 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	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 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 DENIED BY

Name :	Mr. Jagdish
Designation :	Accounts Executive
Contact No.:	91-79-26931679
Date :	11.05.2018

LOCATIONS

Registered Office :	10th Floor, Commerce House - 4, Beside Reliance Petrol Pump, 100 FT Road, Prahladnagar, Satellite, Ahmedabad – 380015, Gujarat, India
Tel. No.:	91-79-26931679
Fax No.:	Not Available
E-Mail :	account@goyalco.com

DIRECTORS

AS ON 31.03.2018

Name :

Mr. Mukesh Rampurshottam Agarwal

Designation :

Director

Address :

Govind Niwas, Amaltas Plantation, Sarkhej Gandhinagar Highway, Ahmedabad -380058, Gujarat, India

Date of Birth/Age :

24.02.1978

Qualification:

MBA

Date of Appointment :

20.12.2001

DIN No.:

00195552

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U17119GJ2002PTC040486	SUPERNOVA EXIM PRIVATE LIMITED	20/06/2002	-
U70100GJ1994PTC023863	GALAXY REAL ESTATE DEVELOPERS (GUJ) PRIVATE LIMITED	30/09/2013	-
U45200MH1994PTC083970	BAPA REAL ESTATE PRIVATE LIMITED	30/09/2014	-
U01110GJ1982PTC005293	AMALTASH (PLANTATIONS) PVT LTD	04/07/1996	-
U29199GJ1956PTC000592	MACHINERY AND EQUIPMENT MANUFACTURERS PRIVATE LIMITED	01/07/2014	-
U45201GJ2006PTC047742	ORCHID PLAZA DESIGN AND DEVELOPERS PRIVATE LIMITED	29/09/2012	-
U51909GJ1942PLC000168	BHARAT BOBBINS LIMITED	01/07/2014	-
U45200MH1994PTC083519	HYBRID PROPERTIES PRIVATE LIMITED	29/09/2014	-
U52190GJ1998PTC033776	ASIA-PERFECT MULTILINK PRIVATE LIMITED.	05/04/2002	-
U67190GJ2007PTC051219	MERCURY CORPORATE SERVICES PRIVATE LIMITED	27/06/2007	-

Name :

Mr. Tanmay Trilokchand Agarwal

Designation :

Director

Address :

Amaltas Bunglows, Near Panchvati Auto, Prahlad Chokdi, Makarba, Ahmedabad- 380058, Gujarat, India

Date of Birth/Age :

04.09.1981

Qualification:

Graduate

Date of Appointment :

18.06.2004

DIN No.:

00195704

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U51909GJ2004PTC044575	GALAXY GLOBAL PRIVATE LIMITED	22/06/2005	-
U45200MH1994PTC083519	HYBRID PROPERTIES PRIVATE LIMITED	17/07/2006	-

Name :

Mr. Shivshankar Govindram Agarwal

Designation :

Director

Address :

3, Govind Nivas Bunglow, Inside Panchvati Auto Lane, Prahlad Nagar Road, S.G. Highway, Ahmedabad -380058, Gujarat, India

Date of Birth/Age :

29.04.1963

Qualification:

Graduate

Date of Appointment :

20.12.2001

DIN No.:

00195751

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U01110GJ1982PTC005293	AMALTASH (PLANTATIONS) PVT LTD	04/07/1996	-
U70100GJ1994PTC023863	GALAXY REAL ESTATE DEVELOPERS (GUJ) PRIVATE LIMITED	30/09/2013	-
U45201GJ2006PTC047742	ORCHID PLAZA DESIGN AND DEVELOPERS PRIVATE LIMITED	29/09/2012	-
U52190GJ1998PTC033776	ASIA-PERFECT MULTILINK PRIVATE LIMITED.	28/09/1998	-

Name :

Mr. Trilokchand Govindram Agarwal

Designation :

Director

Address :

Amaltas Plantation Bunglow Sarkhej Highway, Ahmedabad- 380055, Gujarat, India

Date of Birth/Age :

19.06.1959

Qualification:

Graduate

Date of Appointment :

05.04.1995

DIN No.:

00225255

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U01110GJ1982PTC005293	AMALTASH (PLANTATIONS) PVT LTD	04/07/1996	-
U70100GJ1994PTC023863	GALAXY REAL ESTATE DEVELOPERS (GUJ) PRIVATE LIMITED	30/09/2013	-
U45201GJ2006PTC047742	ORCHID PLAZA DESIGN AND DEVELOPERS PRIVATE LIMITED	29/09/2012	-
U52190GJ1998PTC033776	ASIA-PERFECT MULTILINK PRIVATE LIMITED.	05/04/2002	-
U45201GJ2007PTC051639	S.G.V. INFRASTRUCTURE PRIVATE LIMITED	30/09/2009	-

KEY EXECUTIVES

Name :	Mr. Jagdish
Designation :	Accounts Executive

MAJOR SHAREHOLDERS

AS ON 31.03.2016

Names of Shareholders	No. of Shares
Sandip R Agarwal	26265
Trilok G Agarwal	22020
Shivsankar Agarwal	23010
R P Trilok HUF	1250
R P Mukesh HUF	3650
R P Shiv and Bros HUF	750
Jayshreedevi T Agarwal	3360
Indiradevi T Agarawal	3230
Meenadevi Agarawal	690
R P & Sons HUF	600
Mukesh Agarwal	22990
Trilok Shiv HUF	410
Tanmay Agarwal	1000
Devikirani Agarwal	4810
Babitadevi Agarwal	1300
Trilok Govindram HUF	2025
R P Trilok and Bros HUF	1740
Andura Infrastructure Products Private Limited, India	194700
Total	313800

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2016

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	37.95
Promoters- Body corporate	62.05
Total	100.00

BUSINESS DETAILS

Line of Business :

Construction Activity. [Registered Activity]

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Construction	45201 [ As per NIC code, 2004]

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 :	Deutsche Bank AG
Branch :	ECE House, 28, Kasturba Gandhi Marg, New Delhi - 110001, 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 :	--

• Punjab National Bank Foreshore Branch, 1st Floor, Raheja Chambers, Nariman Point, Mumbai - 400021, Maharashtra, India
• Kotak Mahindra Bank Limited, 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Rupee term loans from banks	41.352	62.081
SHORT TERM BORROWING
Loans repayable on demand from banks	1372.063	981.935
Total	1413.415	1044.016

Auditors :
Name :	Anil Kumar Seth and Company Chartered Accountants
Address :	321, Abhinav Arcade, Near Kothawala Flats, Ellisbridge, Ahmedabad-380006, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	ACVPS7032H
Memberships :	Not Available
Collaborators :	Not Available
Holding company:	Andura Infrastructure Products Private Limited, India [U26966GJ2004PTC043695]
Subsidiary Concern:	K.S Associates Riviera Developers
Associate Concern:	Shahibaug Orchid Developers Gokuldham Developers Whitfield Projects Deep Galaxy Developers Goyal Safal Developers Goyal Safal Estate GSS Reality LLP Safal Real Estate Goyal Hariyana Reality Galaxy Estate Orchid Lakeview Developers Galaxy Realities Safal Goyal Realty LLP White Mountain Safal Goyal Developers Calvin Divine Entreprise LLP HN Safal Goyal Realty LLP HN Safal Realtech LLP Goyal Hariyana Constructions Goyal Procon LLP Orchid Divine Developers
Enterprise under significant influence of Key Management Personnel or their relatives:	Bapa Real Estate Private Limited Galaxy Global Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	INR 100/- each	INR 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
313800	Equity Shares	INR 100/- each	INR 31.380 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	31.380	31.380	31.380
(b) Reserves and Surplus	3188.128	2476.001	2049.010
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	3219.508	2507.381	2080.390
(3) Non-Current Liabilities
(a) long-term borrowings	41.352	62.081	81.586
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	804.998	804.998	479.787
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	846.350	867.079	561.373
(4) Current Liabilities
(a) Short-term borrowings	1670.192	1263.651	1834.454
(b) Trade payables	4.357	5.110	1.393
(c) Other current liabilities	538.041	506.700	160.342
(d) Short-term provisions	104.430	9.982	2.595
Total Current Liabilities (4)	2317.020	1785.443	1998.784
TOTAL	6382.878	5159.903	4640.547
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.827	8.908	11.317
(ii) Intangible Assets	0.131	0.000	0.000
(iii) Tangible assets capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	342.103	342.236	341.852
(c) Deferred tax assets (net)	4.253	4.202	4.206
(d) Long-term loans and advances	0.000	0.000	0.000
(e) Other Non-current assets	0.259	0.517	0.441
Total Non-Current Assets	357.573	355.863	357.816
(2) Current assets
(a) Current investments	4872.743	3966.382	3269.034
(b) Inventories	1065.479	758.846	374.022
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and bank balances	3.451	2.774	3.065
(e) Short-term loans and advances	83.475	75.974	636.454
(f) Other current assets	0.157	0.064	0.156
Total Current Assets	6025.305	4804.040	4282.731
TOTAL	6382.878	5159.903	4640.547

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	527.285	532.417	848.547
	Other Income	104.326	100.695	97.194
	TOTAL	631.611	633.112	945.741
Less	EXPENSES
	Cost of Materials Consumed	409.228	447.599	45.330
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(306.633)	(425.002)	161.585
	Employee benefit expense	6.745	5.895	5.018
	CSR expenditure	11.800	2.000	1.400
	Other expenses	10.119	10.239	8.283
	TOTAL	131.259	40.731	221.616
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	500.352	592.381	724.125
Less	FINANCIAL EXPENSES	119.902	132.780	178.932
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	380.450	459.601	545.193
Less/ Add	DEPRECIATION/ AMORTISATION	4.123	3.605	5.949
	PROFIT/ (LOSS) BEFORE TAX	376.327	455.996	539.244
Less	TAX	49.398	29.005	46.772
	PROFIT/ (LOSS) AFTER TAX	326.929	426.991	492.472
	Earnings / (Loss) Per Share (INR)	1041.84	1360.71	1569.38

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	20.693	19.221	16.532
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(21.546)	(238.388)	(406.812)
Net cash flows from (used in) operating activities	23.452	(260.000)	(481.349)

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)	3.89	4.17	11.22
Inventory Turnover (Operating Income / Inventories)	0.47	0.78	1.94
Asset Turnover (Operating Income / Net Fixed Assets)	45.66	66.50	63.99

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.37	0.36	0.45
Debt Equity Ratio (Total Liability / Networth)	0.54	0.54	0.93
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.72	0.71	0.96
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00	0.00	0.01
Interest Coverage Ratio (PBIT / Financial Charges)	4.17	4.46	4.05

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	62.00	80.20	58.04
Return on Total Assets ((PAT / Total Assets) * 100)	%	5.12	8.28	10.61
Return on Investment (ROI) ((PAT / Networth) * 100)	%	10.15	17.03	23.67

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	2.60	2.69	2.14
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	2.14	2.27	1.96
G-Score Ratio Financial (Networth / Total Assets)	0.50	0.49	0.45
G-Score Ratio Debt (Debts / Equity Capital)	55.20	42.86	61.59
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	2.60	2.69	2.14

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

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	31.380	31.380	31.380
Reserves & Surplus	2049.010	2476.001	3188.128
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2080.390	2507.381	3219.508
Long-term borrowings	81.586	62.081	41.351
Short term borrowings	1834.454	1263.651	1670.192
Current maturities of long-term debts	16.532	19.221	20.693
Total borrowings	1932.572	1344.953	1732.236
Debt/Equity ratio	0.929	0.536	0.538

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	848.547	532.417	527.285
		(37.255)	(0.964)

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	848.547	532.417	527.285
Profit/ (Loss)	492.472	426.991	326.929
	58.04 %	80.20 %	62.00 %

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	No
8	Designation of contact person	No
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	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	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	Yes
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

UNSECURED LOANS:

(INR In Million)

Particulars	As on 31.03.2017	As on 31.03.2016
SHORT TERM BORROWING
Loans repayable on demand from others	298.129	281.716
Total	298.129	281.716

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G79371126	100160292	DEUTSCHE BANK AG	16/08/2017	-	-	750000000.0	ECE HOUSE,28, KASTURBA GANDHI MARG,NEW DELHIDL110001IN
2	G46168936	100103533	PUNJAB NATIONAL BANK FORESHORE BRANCH	23/05/2017	-	-	400000000.0	1ST FLOOR, RAHEJA CHAMBERS,NARIMAN POINTMUMBAIMH400021IN
3	G03600814	10249507	KOTAK MAHINDRA BANK LIMITED	27/09/2010	22/03/2016	-	750000000.0	27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN
4	G77419307	10412703	DEUTSCHE BANK	06/03/2013	15/10/2014	31/01/2018	664000000.0	ECE HOUSE28 KASTURBA GANDHI MARGNEW DELHIDL110001IN
5	C37060639	10482681	INDIAN OVERSEAS BANK	20/01/2014	-	06/12/2014	800000000.0	FORT BRANCH, TAMARIND HOUSE,30 & 32 TAMARIND LANEMUMBAIMH400023IN
6	B72691488	10214763	PUNJAB NATIONAL BANK	15/03/2010	-	18/03/2013	350000000.0	SECTOR 16 GANDHINAGAR BRANCHGANDHINAGARGJ382016IN
7	B70586813	10208029	KOTAK MAHINDRA BANK LIMITED	01/02/2010	27/08/2010	20/02/2013	1000000000.0	36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN
8	B00693283	80061421	INDIAN OVERSEAS BANK	03/08/2004	10/03/2005	08/12/2010	200000000.0	STADIUM ROAD BREACHNAVRANGPURAAHMEDABADGJ380013IN
9	A76791748	10143785	BANK OF INDIA	16/02/2009	-	06/01/2010	320000000.0	AHMEDABAD CORPORATE BANKING BRANCH2ND FLOOR, BOI BUILDING,BHADRAAHMEDABADGJ380001IN
10	A70624283	10007377	PUNJAB NATIONAL BANK	08/06/2006	06/11/2006	07/10/2009	90000000.0	NEW CLOTH MARKET BRANCHOUTSIDE RAIPUR GATEAHMEDABADGJ380002IN

CONTINGENT LIABILITIES

(INR In Million)

Particulars	As on 31.03.2017	As on 31.03.2016
Appeal CIT(A) For A.Y 2013-2014	0.277	0.427
Appeal CIT(A) For A.Y 2014-2015	2.632	0.000

FIXED ASSETS:

Tangible assets

• Furniture and fixtures
• Office equipment
• Computer equipments
• Plant and equipment
• Vehicles

Intangible assets

• Computer software

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 :	PNM
Analysis Done by :	DIV
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.