MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	511897
Report Date :	29.05.2018

IDENTIFICATION DETAILS

Name :	GENERAL MOTORS INDIA PRIVATE LIMITED

Formerly Known As :	GENERAL MOTORS INDIA LIMITED

Registered Office :	Surinder Jhakhar Bhavan, IFFCO Complex, Plot No. 3, Tower B, 3^rd and 4th Floor, Sector – 32, Gurugram – 122001, Haryana, India
Tel. No.:	91-124-6771000/ 3080000/ 6771000

Country :	India

Financials (as on) :	31.03.2017

Date of Incorporation :	15.04.1994

Com. Reg. No.:	05-073173 (New) 04-021818 (Old)

Capital Investment / Paid-up Capital :	INR 97074.100 Million

CIN No.: [Company Identification No.]	U34100HR1994PTC073173 (New) U34100GJ1994PTC021818 (Old)

IEC No.: [Import-Export Code No.]	0894004921

GSTIN : [Goods & Service Tax Registration No.]	24AAACG8371P1Z5

TIN No:	24171100467

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

PAN No.: [Permanent Account No.]	AAACG8371P

Legal Form :	Private Limited Liability Company

Line of Business :	The Company is primarily in the business of manufacture, purchase and sale of motor vehicles, components and spare parts (“automobiles”). (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 :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Exists

Comments :	Subject is a subsidiary of “General Motors Company, USA” and was incorporated in the year 1994. General Motors Company is an American Multinational Corporation which ranks 8th in the fortune 500 companies list as on 2017, that designs, manufactures, markets and distributes vehicles and vehicle parts and sells financial services and operates under the brand the names Chevrolet, Buick GMC and Cadillac. General Motors India has achieved a growth of 39.10% in its revenue as compared to the previous year but has incurred losses from its operations during FY 2017. The moderate financial profile of the company is marked by negative reserve base due to continuous losses incurred by the company. The management has registered case (Case No. 13/2015) with Board for Industrial and Financial Reconstruction (BIFR) under Sick Industrial Companies Act, 1985 and status for the order of rehabilitation proposal is shown as pending determination of sickness as on 16 November 2016. However, the current update for the same is not available as the BIFR website is unreachable. Payments seems to be slow and delayed. In view of aforesaid, dealings are recommended on safe and secured terms.

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

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 29.05.2018

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. Sanjiv Gupta
Designation :	Director
Contact No.:	91-9599283671
Date :	25.05.2018

91-124-3080000 (Incorrect number)

91-2676-221000/ 220664/ 220677 (Not Reachable)

LOCATIONS

Registered Office :	Surinder Jhakhar Bhavan, IFFCO Complex, Plot No. 3, Tower B, 3^rd and 4th Floor, Sector – 32, Gurugram – 122001, Haryana, India
Tel. No.:	91-124-6771000/ 3080000/ 6771000
Fax No.:	91-124-6771077
E-Mail :	customer.connect@gm.com gmi.cac@gm.com ghazali.shadab@gm.com
Website :	http://www.gm.co.in http://www.gm.com

Corporate Office 1:	401, Plam Court, 20/4, Sukhrali Chowk, Gurugram Road, Gurugram-122001, Haryana, India

Corporate Office 2:	6^th Floor, Tower A, Global Business Park, Mehrauli – Gurugram Road, Gurugram-122002, Haryana, India
Tel. No.:	91-124-2803333
Fax No.:	91-124-2803344
E-mail :	gmi.cac@gm.com

Factory 1:	Plot No. A-16, MIDC, Talegaon Industrial Area, Navlakh, Umbre Village Road, Talegaon, Tehsil Maval, Pune-410507, Maharashtra, India

Factory 2:	Chandrapura Industrial Estate, Halol, District Panchmahal - 389351, Gujarat, India

Factory 3:	Plot No:15, Sector-32 Institutional Area, Gurugram – 122001, Haryana, India
Tel. No.:	91-124-308 0000/421 3333
Fax No.:	91-124-421 3334

DIRECTORS

As on 31.03.2017

Name :	Mr. Sanjiv Gupta
Designation :	Director
Address :	418, DLF, Magnolias Golf Course Road, Gurugram- 122002, Haryana, India
Date of Birth	29.12.1973
Date of Appointment :	22.06.2016
DIN No.:	07549705
Qualification	BE, MBA
PAN No.:	AARPG3961F

Name :	Mr. Asif I. Khatri
Designation :	Wholetime Director
Address :	Octeva, B-1701, One North, Hadapsar, Pune-411028, Maharashtra, India
Date of Appointment :	28.07.2017
DIN No.:	07891943

Name :	Mr. Vinay Madhav Pradhan
Designation :	Wholetime Director
Address :	Flat - 403, B-Wing, Amalfi, Raheja Garden, Near Teen Hath Naka, Thane -400604, Maharashtra, India
Date of Appointment :	01.09.2017
DIN No.:	07917439

Name :	Mr. Pritpal Singh Kular
Designation :	Director
Address :	702, Tower 6, Vipul Belmonte, Gurugram-122011, Haryana, India
Date of Appointment :	30.11.2017
DIN No.:	07994868

KEY EXECUTIVES

Name :	Mr. Sanjiv Gupta
Designation :	Chief Financial Officer
Address :	418, DLF, Magnolias Golf Course Road, Gurugram- 122002, Haryana, India
Date of Birth	29.12.1973
Date of Appointment :	01.05.2016
PAN No.:	AARPG3961F

Name :	Mr. Ghazali Shadab
Designation :	Company Secretary
Address :	Flat No. 407, F. I. Dingra Apartments, Guru Govind Singh Marg, Lucknow-226001, Uttar Pradesh, India
Date of Appointment :	02.05.2017
PAN No.:	BSLPS9813D

Name :	Chandrasekaran Associate
Designation :	Company Secretary
Address :	11-F, Pocket – IV, Mayur Vihar Phase – I, Delhi – 110091, India
Tel. o:	91-11-22710514/ 22713708
Email:	info@cacsindia.com

MAJOR SHAREHOLDERS

As on 31.03.2017

Names of Shareholders (Equity Shares)		No. of Shares
General Motors (Hong Kong) Company Limited, Hong Kong		1
SAIC Motor HK Investment Limited, Hong Kong		1
SAIC General Motors Investment Limited, Shanghai		9707405805
Total		9707405807

Names of Shareholders (Preference Shares)		No. of Shares
SAIC General Motors Investment Limited, Shanghai		24675000
Total		24675000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2017

Category	Percentage
Promoters - Body corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is primarily in the business of manufacture, purchase and sale of motor vehicles, components and spare parts (“automobiles”). (Registered Activity)

Products/ Services :

Item Code No.	Product Description
87033210	Motor cars and Other motor Vehicle for Transport of Persons (excl of 8702)including RCNG cars etc.
29101	Passenger Cars

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 :	IDBI Bank Limited
Branch :	3rd Floor, IRCS Building, 1, Red Cross Road, 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 :	--

Bank of America NT and SA, 16th Floor, Express Towers, Nariman Point, Mumbai-400021, Maharashtra, India
Citibank N.A., Sakhar Bhavan, Nariman Point, Mumbai-400021, Maharashtra, India
Anz Grindlays Bank Limited, Mahatma Gandhi Road, Fort, Mumbai-400001, Maharashtra, India
Standard Chartered Bank, 23-25, Mahatma Gandhi Road, fort, mumbai-400001, Maharashtra, India
Hongkong and Shanghai Banking Corporation Limited, 52/60, Mahatma Gandhi Road, fort, Mumbai-400001, Maharashtra, India

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Long-term maturities of finance lease obligations	1.400	3.500

Total	1.400	3.500

Financial Institutions:	IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai-400001, Maharashtra, India The Industrial Credit and Investment Corporation of India Limited, 163, Backbay Reclamation, Mumbai-400020, Maharashtra, India The SCICI Limited, 141, Maker Tower, 'F'cuffe Parade, Mumbai-400005, Maharashtra, India

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF Phase-II, Gurugram - 122002, Haryana, India
Tel. No.:	91-124-6792000
Fax No.:	91-124-6792012
PAN N Income-tax PAN of auditor or auditor's firm :	AABFD2095B

Memberships :	Not Available

Collaborators :	Not Available

Holding Company :	SAIC General Motors Investment Limited (HKJV)

Ultimate Joint Venturer (with effect from February 01, 2010) :	General Motors Company SAIC Motor Corporation Limited

Fellow subsidiaries/ associates of General Motors Company and SAIC Motor Corporation Limited, where transactions exists :	Adam Opel AG Chevrolet Europe GmbH Chevrolet Sales (Thailand) Limited Chevrolet Sales India Private Limited General Motors China, Inc. General Motors International Operations Pte Limited General Motors Overseas Distribution LLC, USA General Motors Powertrain (Thailand ) Limited General Motors UK Limited General Motors Uzbekistan Closed Joint Stock Company General Motors Chile Industria Automotriz Limitada General Motors De Mexico S. DE R.L. de C.V. GM Global Technology Operations LLC (USA) GM Global Tooling Co. LLC General Motors (China) Investment Company Limited GM Korea Company General Motors LLC (USA) General Motors South Africa (Pty) Limited General Motors Technical Centre India Pvt. Limited General Motors Overseas Corporation (USA) GM Holden Limited(Australia) General Motors Del Ecuador S.A General Motors Vietnam Company Limited General Motors Colmotores SA PIMS CO. PT. General Motors Indonesia Manufacturing SAIC GM Wuling Automobile Company Limited Shanghai General Motors Co. Limited GM Powertrain (GMPT) Uzbekistan General Motors Do Brasil Gmpt-E, Italy

CAPITAL STRUCTURE

As on 30.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount

11419488594	Equity Shares	INR 10/- each	INR 114194.886 Million
9365000	Class "A" Equity Share	INR 10/- each	INR 93.700 Million
3302906	Unclassified shares	INR 10/- each	INR 33.000 Million
2800000	Redeemable preference shares	INR 100/- each	INR 280.000 Million
500000	Cumulative redeemable preference shares	INR 1000/- each	INR 500.000 Million
20000000	Redeemable Preference Shares	INR 100/- each	INR 2000.000 Million
39843500	Cumulative Redeemable Preference Shares	INR 10/- each	INR 398.400 Million
	Total		INR 117500.000 Million

Issued Capital,

No. of Shares	Type	Value	Amount

9705780807	Equity Shares	INR 10/- each	INR 97057.808 Million
9365000	Class "A" Equity Share	INR 10/- each	INR 93.700 Million
500000	Cumulative Redeemable Preference Shares	INR 1000/- each	INR 500.000 Million
24185000	Cumulative Redeemable Preference Shares	INR 10/- each	INR 241.800 Million
	Total		INR 97893.310 Million

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

9698040807	Equity Shares	INR 10/- each	INR 96980.408 Million
9365000	Class "A" Equity Share	INR 10/- each	INR 93.700 Million
490000	Cumulative Redeemable Preference Shares	INR 1000/- each	INR 490.000 Million
24185000	Cumulative Redeemable Preference Shares	INR 10/- each	INR 241.800 Million
	Total		INR 97805.908 Million

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount

11419488594	Equity Shares	INR 10/- each	INR 114194.900 Million
9365000	Class "A" Equity Share	INR 10/- each	INR 93.700 Million
3302906	Unclassified shares	INR 10/- each	INR 33.000 Million
	Total		INR 114321.600 Million

Issued Capital,

No. of Shares	Type	Value	Amount

9705780807	Equity Shares	INR 10/- each	INR 97057.800 Million
9365000	Class "A" Equity Share	INR 10/- each	INR 93.700 Million
	Total		INR 97151.500 Million

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

9698040807	Equity Shares	INR 10/- each	INR 96980.400 Million
9365000	Class "A" Equity Share	INR 10/- each	INR 93.700 Million
	Total		INR 97074.100 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	97074.100	89329.000	78051.300
(b) Reserves & Surplus	(87708.700)	(80906.000)	(75563.300)
(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)	9365.400	8423.000	2488.000

(3) Non-Current Liabilities
(a) long-term borrowings	3009.100	1680.400	2159.500
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	293.200	27.000	15.200
(d) long-term provisions	867.600	364.900	828.600
Total Non-current Liabilities (3)	4169.900	2072.300	3003.300

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	11745.200	17814.200	10337.200
(c) Other current liabilities	6332.500	2339.200	1799.900
(d) Short-term provisions	1600.100	2458.200	2165.100
Total Current Liabilities (4)	19677.800	22611.600	14302.200

TOTAL	33213.100	33106.900	19793.500

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4550.400	2872.600	2424.600
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	4206.500	3927.300	577.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	2823.800
(e) Other Non-current assets	4586.800	3460.800	16.400
Total Non-Current Assets	13343.700	10260.700	5841.800

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5818.900	9505.500	5728.200
(c) Trade receivables	1450.800	4596.300	2525.800
(d) Cash and cash equivalents	2533.400	1073.000	2825.300
(e) Short-term loans and advances	0.000	0.000	2866.300
(f) Other current assets	10066.300	7671.400	6.100
Total Current Assets	19869.400	22846.200	13951.700

TOTAL	33213.100	33106.900	19793.500

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	50617.600	36390.300	22146.400
	Other Income	1179.300	456.800	481.500
	TOTAL	51796.900	36847.100	22627.900

Less	EXPENSES
	Cost of Materials Consumed	38308.300	29621.200	22452.400
	Purchases of Stock-in-Trade	144.700	154.200	502.200
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	965.200	(1755.100)	(465.600)
	Employees benefits expense	4316.700	2513.500	2521.200
	Exceptional items	0.000	0.000	(499.700)
	Other expenses	14900.800	12245.700	7360.700
	TOTAL	58635.700	42779.500	31871.200

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(6838.800)	(5932.400)	(9243.300)

Less	FINANCIAL EXPENSES	267.300	249.000	459.600

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(7106.100)	(6181.400)	(9702.900)

Less	DEPRECIATION/ AMORTISATION	682.800	628.600	331.000

	PROFIT/ (LOSS) BEFORE TAX	(7788.900)	(6810.000)	(10033.900)

Less	TAX	0.000	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX	(7788.900)	(6810.000)	(10033.900)

	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	27693.700	16332.000	503.300
	TOTAL EARNINGS	27693.700	16332.000	503.300

	Earnings / (Loss) Per Share (INR)	0.82	(0.81)	(1.82)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	2.200	2.900	0.500
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(4784.700)	(9597.400)	(15083.700)
Net cash flows from (used in) operating activities	(4879.700)	(9597.400)	(15147.300)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	10.46	46.10	41.63

Account Receivables Turnover (Income / Sundry Debtors)	34.89	7.92	8.77

Average Payment Days (Sundry Creditors / Purchases * 365 Days)	111.49	218.37	164.37

Inventory Turnover (Operating Income / Inventories)	(1.18)	(0.62)	(1.61)

Asset Turnover (Operating Income / Net Fixed Assets)	(0.78)	(0.87)	(3.08)

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.68	0.73	0.83

Debt Equity Ratio (Total Liability / Networth)	0.32	0.20	0.87

Current Liabilities to Networth (Current Liabilities / Net Worth)	2.10	2.68	5.75

Fixed Assets to Networth (Net Fixed Assets / Networth)	0.94	0.81	1.21

Interest Coverage Ratio (PBIT / Financial Charges)	(25.58)	(23.82)	(20.11)

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	(15.39)	(18.71)	(45.31)

Return on Total Assets ((PAT / Total Assets) * 100)	%	(23.45)	(20.57)	(50.69)

Return on Investment (ROI) ((PAT / Networth) * 100)	%	(83.17)	(80.85)	(403.29)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.01	1.01	0.98

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.71	0.59	0.57

G-Score Ratio Financial (Networth / Total Assets)	0.28	0.25	0.13

G-Score Ratio Debt (Debts / Equity Capital)	0.03	0.02	0.03

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.01	1.01	0.98

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
Share Capital	78051.300	89329.000	97074.100
Reserves & Surplus	(75563.300)	(80906.000)	(87708.700)
Net worth	2488.000	8423.000	9365.400

long-term borrowings	2159.500	1680.400	3009.100
Short term borrowings	0.000	0.000	0.000
Current maturities of long-term debts	0.500	2.900	2.200
Total borrowings	2160.000	1683.300	3011.300
Debt/Equity ratio	0.868	0.200	0.322

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	22146.400	36390.300	50617.600
		64.317	39.096

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	22146.400	36390.300	50617.600
Profit /(Loss)	(10033.900)	(6810.000)	(7788.900)
	(45.31%)	(18.71%)	(15.39%)

LEGALS FILE

CIVIL COURT, VADODARA

CASE DETAILS

Case Type: SPCS - SPECIAL CIVIL SUIT
Filing Number: 989/2000Filing Date: 17-11-2000
Registration No.: 989/2000Registration Date: 17-11-2000
CNR NO: GJVD02-001720-2000

CASE STATUS

First Hearing Date: 12th May 2015
Next Hearing Date: 09th September 2016 Date Not Updated
Stage of Case: ISSUES
Court No. and Judge: 14-14th ADDL. SR. CIVIL JUDGE & JMFC

Petitioner and Advocate

1) THE NEW INDIA ASSURANCE CO. LTD.
Address -
Advocate- N S SHAH

RESPONDENT AND ADVOCATE

1) PENINSULAR TRUCKING PVT. LTD.
    Address -
    Advocate - A M PATEL

2) GENERAL MOTORS INDIA LIMITED

    Advocate-A M PATEL

ACTS

Under Act(s)		Under Section(s)
CODE OF CIVIL PROCEDURE, 1908		009
History of Case Hearing
Registration No.	Judge	Business On Date	Hearing Date	Purpose of hearing
989/2000	14th ADDL. SR. CIVIL JUDGE & JMFC	12-05-2015	20-07-2015	ISSUES
989/2000	14th ADDL. SR. CIVIL JUDGE & JMFC	20-07-2015	18-09-2015	ISSUES
989/2000	14th ADDL. SR. CIVIL JUDGE & JMFC	18-09-2015	11-12-2015	ISSUES
989/2000	14th ADDL. SR. CIVIL JUDGE & JMFC	11-12-2015	12-01-2016	ISSUES
989/2000	14th ADDL. SR. CIVIL JUDGE & JMFC	12-01-2016	28-03-2016	ISSUES
989/2000	14th ADDL. SR. CIVIL JUDGE & JMFC	28-03-2016	13-05-2016	ISSUES
989/2000	14th ADDL. SR. CIVIL JUDGE & JMFC	13-05-2016	29-07-2016	ISSUES
989/2000	14th ADDL. SR. CIVIL JUDGE & JMFC	29-07-2016	09-09-2016	ISSUES
Case Transfer Details Between The Courts
Regn. No.	Transfer Date	From Court No. and Judge	To Court No. and Judge
989/2000	01-01-1900	13 -	11 -
989/2000	10-11-2014	11 - ADDL. SR. CIVIL JUDGE & A.C.J.M.	5 - ADDL. SR. CIVIL JUDGE & A.C.J.M.
989/2000	12-04-2015	5 - ADDL. SR. CIVIL JUDGE & A.C.J.M.	14 - 14th ADDL. SR. CIVIL JUDGE & JMFC

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	No
17	Details of sister concerns	Yes
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 two/ three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
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	Yes
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

STATE OF THE COMPANYS AFFAIRS

GM Indias revenue from operations grew 39.10% from INR 36390.300 Million for FY 2015-16 to INR 50617.600 Million for FY 2016-17. The company sold 96,658 units for FY 2016-17 as against 69319 units for previous Financial Year thus, registering a rise of 39.44% year to year. The margins were hit adversely because of impairment of certain assets. However, the overall figures are expected to improve significantly in the coming years due to consolidation of manufacturing activities as well as focus on profitable areas.

Keeping commitment towards the Make in India program, GM India Talegaon plant celebrated the 100,000 vehicle shipment of Chevrolet Beat to Mexico in February, 2017. The Chevrolet Beat recorded the highest growth for any passenger vehicle exported from India and became the sixth most exported passenger vehicle out of India during Calendar Year 2016, with a total of 69,390 units. GM India exports number have ascended from 943 units in 2014 to 100, 000 units in 2017. GM India as a reckoning force strives to bring quality in all the global markets. A GM vehicle built anywhere in the world meets the same quality standards, which is evident with the way the Chevrolet Beat have been accepted worldwide. With the consummation of our highest quality cars in key markets like Mexico, Peru, Central America and other Caribbean countries, GM India team is all set to ascend its export journey to the other markets like Africa.

Also, during the year, GM India rolled out the first vehicle meant for shipment to Argentina on May 9, 2016. Argentina will be the sixth major export market for the Company. GM India already exports the left-hand drive Beat to countries including Mexico, Chile, Peru, Central American and Caribbean Countries (CAC), Uruguay and now Argentina.

The Company has recorded a massive growth of 111.61% in exporting vehicles and components, becoming the 5th largest car exporter in India during the first quarter of fiscal year 2018. We recently commenced auto component export to Vietnam, following the start of regular production on 28th June, 2017. As a part of our robust exports business strategy, this latest development is a huge step that brings us closer to our vision of positioning the Company as one of the largest exporters in India. A regular shipment of component export to Vietnam has begun. The CKD Export Team members are travelling to Columbia to begin the preparation for component export. We have been already shipping B DHOC 1.2L Gasoline Engine to both Colombia & Vietnam since 2015.

On June 6, 2017 GM India celebrated the start of regular production of the left-hand drive Chevrolet Beat Notchback for export at its Talegaon manufacturing facility to Mexico and Latin America and also commenced engine and vehicle kit exports to Vietnam. Our propulsion system plant also just received GM Built in Quality IV certification, an outstanding recognition of Quality system compliance to the highest standards.

UNSECURED LOAN

PARTICULARS	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Liability component of compound financial instruments	470.100	427.300
Term loans from others	2537.600	1249.600
Total	3007.700	1676.900

INDEX OF CHARGES

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	C29862521	10234414	IDBI TRUSTEESHIP SERVICES LIMITED	28/07/2010	16/09/2010	20/10/2014	8000000000.0	Asian Bldg., Ground Floor, 17, R.Kamani Marg,Ballard Estate,MUMBAIMH400001IN
2	C29863750	10234415	IDBI TRUSTEESHIP SERVICES LIMITED	28/07/2010	06/02/2012	20/10/2014	4250000000.0	Asian Bldg., Ground Floor, 17, R.Kamani Marg,Ballard Estate,MUMBAIMH400001IN
3	B38951299	10304985	IDBI Bank Limited	06/09/2011	-	17/04/2012	2000000000.0	3rd Floor,IRCS Building,1, Red Cross Road,New DelhiDL110001IN
4	A73774309	80055913	BANK OF AMERICA NT & SA	17/10/1998	-	26/11/2009	98000000.0	16TH FLOOR, EXPRESS TOWERSNARIMAN POINTMUMBAIMH400021IN
5	A73587693	80055914	CITIBANK N.A.	17/10/1998	-	23/11/2009	196000000.0	SAKHAR BHAVANNARIMAN POINTMUMBAIMH400021IN
6	A73170177	80055911	THE INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA LIMITED	17/02/1995	-	04/11/2009	700000000.0	163, BACKBAY RECLAMATIONMUMBAIMH400020IN
7	A72508237	80055915	ANZ GRINDLAYS BANK LIMITED	17/10/1998	-	04/11/2009	98000000.0	MAHATMA GANDHI ROADFORTMUMBAIMH400001IN
8	A72509094	80055912	STANDARD CHARTERED BANK	17/10/1998	-	04/11/2009	98000000.0	23-25, MAHATMA GANDHI ROADFORTMUMBAIMH400001IN
9	A73169518	80055910	THE SCICI LIMITED	17/02/1995	-	04/11/2009	200000000.0	141, MAKER TOWER 'F'CUFFE PARADEMUMBAIMH400005IN
10	A70326921	80055916	HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	23/11/1998	-	07/09/2009	98000000.0	52/60, MAHATMA GANDHI ROADFORTMUMBAIMH400001IN

CONTINGENT LIABILITIES:

PARTICULARS	31.03.2017	31.03.2016
b) Claims against the Company not acknowledged as debts
Excise and service tax matters	19708.500	13949.900
Sales tax matters	203.500	135.900
Income-tax matters	3844.200	3844.200
Others	8352.500	10790.900

* The above matters including income tax matters are subject to legal proceedings in the ordinary course of business. The legal proceedings when ultimately concluded will not, in the opinion of management, have a material effect on the results of operations or the financial position of the Company.

(b) On September 1, 2014, the Company received an order from the Competition Commission of India for approximately INR 850.000 million in relation to anti-competitive practices. The Company has filed a petition against the competition commission order before the Delhi High Court (Indian Judiciary) on constitutional

grounds. The matter was reserved on January 29, 2016, for pronouncement of final judgement but the relevant judge retired before the final judgement. It is now again listed for directions as oral hearing/ arguments would be required again.

(c) Arrears of fixed cumulative dividends on preference shares as at March 31, 2017 INR 0.100 million (as at March 31, 2016 : INR 0.100 million, as at April 01, 2015 INR 0.100 million).

FIXED ASSETS:

Land
Building
Plant and Machinery
Computer
Vehicles
Office equipment
Furniture and Fixture

PRESS RELEASE:

WEBSITE:

MG MOTORS REVEALS ITS INDIA PLANS

MG MOTOR INDIA TODAY ANNOUNCED ITS BUSINESS PLANS FOR THE INDIAN MARKET AT A PRESS CONFERENCE IN DELHI.

Monday 19 March 2018: The British carmaker intends to enter the Indian car market with a high degree of localisation. The Halol plant was previously owned by General Motors India. The MG Motor's parent company SAIC purchased the facility last year. The Halol plant will have facilities for a new press shop and will undergo modification of the current assembly lines and other facilities, claims the carmaker. The 80 per cent of localization right from the start aimed by MG Motors will help the carmaker with competitive pricing in a cut-throat market like ours. MG Motors also plans to roll out a new product for the Indian market every year. It will be spearheaded by a crossover/SUV slated to be introduced in the second quarter of 2019 (sometime between June and August next year).

Meanwhile, the carmaker will also hold Dealer Road Shows to lure-in prospective dealerships in the country. The roadshow will be to be conducted in Mumbai on 28 March, in Delhi on 6 April, and in Bengaluru on 16 April. MG Motor India is also actively considering offering new energy vehicles and is keenly looking to work with all stakeholders involved to implement the technology commercially. Apart from that, the SAIC owned carmaker aims to have a greater gender diversity in its employees. Currently, the female employees already account for 22 per cent of the company’s total workforce which is planned to increase up to 35 per cent. Part of the plan also includes setting up over 300 touch points across the country over the next few years for increased customer satisfaction.

Rajeev Chaba, president and managing director, MG Motor India, commenting on the company’s plans for the market, said, “The MG brand seeks to embrace the incredible technology of the future while cherishing its great British heritage. We are moving forward swiftly on our India strategy and building a strong organization to embrace the future. Our aim is to provide vehicles that will be new-age and very contemporary, with a premium image and great value.”

GENERAL MOTORS AIMS TO RAMP UP COMPONENT EXPORTS FROM INDIA

January 28, 2018: New Delhi, Jan 28 (PTI) American auto major General Motors is looking to ramp up component exports from India even as it continues to add new global markets for vehicle shipments from the country, a company official said.

The company, which has stopped selling cars in the Indian market, recently started exporting Beat Notchback to Costa Rica.

"Apart from this addition, they also plan on expanding the component exports in 2018," a General Motors India spokesperson told PTI.

The company currently exports body panels and engines to Vietnam and Cambodia.

The official, however, declined to specify the markets that the company plans to target for components exports.

Elaborating on the vehicle exports from India, the spokesperson said that the company is focused on ensuring that it produces high-quality vehicles for export markets.

"Their exports have tripled over the past year and they are very pleased with the acceptance of their products in the export markets," the official said.

In 2017, GM ranked 5th in India in terms of passenger vehicle exports. Its hatchback Beat was the highest exported passenger vehicle from India.

When asked about settlement of issues related to dealerships, the spokesperson said the company has been able to settle all dealer sales agreements as of December, 31, 2017.

"GM India worked directly with its dealers to ensure a smooth transition to the Chevrolet Authorided Service Operation (ASO) network and in this process they have settled the closure of all dealer sales agreements by December 31, 2017," the spokesperson said.

Last year various company dealers had protested on account of inadequate compensation packages being offered to them.

On availability of service and spare parts for its vehicles in India, the official said the company has a network of 175 ASOs in operation across key locations in the country.

"They continue to operate every function that supports all the aspects of operations of their ASO network; these include the technical assistance centre, field engineers, training organisations and the field team," the spokesperson said.

The company is also maintaining a dedicated customer assistance centre to support its customers, the spokesperson added.

"In addition, they continue to operate parts procurement, warehousing and distribution to ensure smooth parts supply for Chevrolet vehicles in India," the official said.

Based on current planning the automaker is taking all measures to ensure availability of spare parts, generally in the market for at least 10 years, the official added.

Last year in May, General Motors announced stopping selling its vehicles in India. It now exports vehicles manufactured at its Talegoaon plant in Maharashtra.

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 67.44
UK Pound	1	INR 89.89
Euro	1	INR 79.00

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	PYK

Report Prepared by :	MTN

SCORE FACTORS

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