1. Summary Information

Company Name	ADVANCE CABLE TECHNOLOGIES LIMITED	Principal Name 1	MR. DINESH KUMAR JAIN
Status	SATISFACTORY	Principal Name 2	MR. NIKHLESH JAIN
Street Address	G-1, SUNRISE SERENITY, NO. 1, 4^TH ROAD, M R GARDEN, GEDANAHALLI, ASHWATHNAGAR, BANGALORE – 560094, KARNATAKA
Established Date	16.10.2002	SIC Code	--
Telephone#	91-80-23516733 - 34 / 23516799	Business Style 1	MANUFACTURING
Fax #	91-80-23516732	Business Style 2	--
Homepage	--	Product Name 1	COPPER AND ALUMINIUM CABLES
# of employees	150 [Contract Workers : 75]	Product Name 2	--
Paid up capital	500000	Product Name 3	--
Shareholders	DIRECTORS OR RELATIVES OF DIRECTORS [100 %]	Banking	STATE BANK OF INDIA
Public Limited Corp.	NO	Business Period	6 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	BA
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2008		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	14141000	Current Liabilities	5520000
Inventories	747000	Long-term Liabilities	15905000
Fixed Assets	10276000	Other Liabilities	000
Deferred Assets	121000	Total Liabilities	21425000
Invest& other Assets	190000	Retained Earnings	1050000
		Net Worth	4050000
Total Assets	25475000	Total Liab. & Equity	25475000
Total Assets (Previous Year)	13684000
P/L Statement as of	31.03.2008		(Unit: Indian Rs.)
Sales	13187000	Net Profit	9000
Sales(Previous yr)	--	Net Profit(Prev.yr)	1004000

MIRA INFORM REPORT

Report Date :

13.12.2008

IDENTIFICATION DETAILS

Name :	ADVANCE CABLE TECHNOLOGIES LIMITED
Formerly Known As :	PARVA FINANCIAL SERVICES PRIVATE LIMITED
Registered Office :	G-1, Sunrise Serenity, No. 1, 4^th Road, M R Garden, Gedanahalli, Ashwathnagar, Bangalore – 560094, Karnataka
Country :	India
Financials (as on) :	31.03.2008
Date of Incorporation :	16.10.2002
Com. Reg. No.:	08-31116
CIN No.: [Company Identification No.]	U65999KA2002PTC031116
TAN No.: [Tax Deduction & Collection Account No.]	DELA16910F
PAN No.: [Permanent Account No.]	AAFCA0191L
Legal Form :	A closely held public limited liability company
Line of Business :	Manufacturer of Copper and Aluminium Cables

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 20000
Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear
Comments :	Subject is a well established and reputed company having satisfactory track. Trade relations are fair. Business is active. No complaints have been heard. The company can be considered good for normal business dealings.

INFORMATION PARTED BY

Name :	Mr. Joshi
Designation :	Account Executive
Contact No.:	91-9739483407
Date :	12.12.2008

LOCATIONS

Registered Office :	G-1, Sunrise Serenity, No. 1, 4^th Road, M R Garden, Gedanahalli, Ashwathnagar, Bangalore – 560094, Karnataka, India
Tel. No.:	91-80-23516733 - 34 / 23516799
Mobile No.:	91-9739483407 [Mr. Joshi]
Fax No.:	91-80-23516732
E-Mail :	advancecable@gmail.com office@advancecable.in
Area :	2000 sq. ft. [Rented]
Factory :	Plot No. 10, 14 Survey No 95, KIADB Industrial Area, Doddaballapur, Gedanahalli, Bangalore Rural District – 561203
Tel. No.:	91-80-27630498

DIRECTORS

Name :	Mr. Dinesh Kumar Jain
Designation :	Director
Address :	No. 764/28, Bharat Colony, Model Town, Rohtak – 124001, Haryana, India
Date of Birth/Age :	07.08.1948
Qualification :	BE
Date of Appointment :	01.03.2005
Name :	Mr. Nikhlesh Jain
Designation :	Director
Address :	No. 764/28, Bharat Colony, Model Town, Rohtak – 124001, Haryana, India
Qualification :	B. Com.
Date of Appointment :	15.01.2008
Name :	Mr. Manoj Chaturvedi
Designation :	Director
Address :	No. 6 Lottegolla Halli, RMV Extension, near Dollars Colony, Bangalore – 560094, Karnataka, India
Date of Birth/Age :	20.08.1942
Qualification :	BE
Date of Appointment :	05.03.2008
Name :	Mr. Shashank Jain
Designation :	Director
Address :	463 E, 12^th Main, 8^th Cross, RMV Extension, Bangalore – 560080, Karnataka, India
Date of Birth/Age :	06.10.1970
Date of Appointment :	20.01.2003
Date of Ceasing :	14.02.2008

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2008

Names of Shareholders	No. of Shares
Mr. Dinesh Kumar Jain	155000
Mr. Nikhlesh Jain	345000
Total	500000

AS ON 30.09.2008

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Copper and Aluminium Cables

Products :

Item Code No. [ITC Code]	Product Description
7413	Copper and Aluminium Cables

Imports :

Countries :

• China
• Korea

Terms :

Selling :

Credit [60 days]

Purchasing :

L/C

GENERAL INFORMATION

Customers :

Corporate

No. of Employees :

150 [Contract Workers : 75]

Bankers :

State Bank of India

Commercial Branch Industrial Estate, Rajajinagar, Bangalore – 560044, Karnataka, India

Facilities :

Mortgage / Charge of Rs. 47.500 Millions

Unsecured Loan	Rs in Millions 31.03.2008
From : Directors and Share Holders	15.905

Banking Relations :	Satisfactory
Auditors :
Name :	AJS and Associates Chartered Accountants
Address :	313-314, Richmond Tower, 12, Richmond Road, Bangalore – 560025, Karnataka, India
Tel. No.:	91-80-22219261 / 2
Fax No.:	91-80-22217293
E-Mail :	office@ajsca.com

CAPITAL STRUCTURE

AS ON 30.09.2008

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs. 10/- each	Rs. 5.000 Millions

AS ON 31.03.2008

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs. 10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs. 10/- each	Rs. 0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		0.500	0.500
2] Share Application Money		2.500	0.000
3] Reserves & Surplus		1.050	1.046
4] (Accumulated Losses)		0.000	0.000
NETWORTH		4.050	1.546
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		15.905	9.472
TOTAL BORROWING		15.905	9.472
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		19.955	11.018
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.276	8.464
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.121	0.122
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.747	1.740
	Sundry Debtors	0.030	0.290
	Cash & Bank Balances	0.362	0.026
	Other Current Assets	0.000	0.000
	Loans & Advances	13.749	2.757
Total Current Assets		14.888	4.813
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	5.513	2.536
	Provisions	0.007	0.130
Total Current Liabilities		5.520	2.666
Net Current Assets		9.368	2.147
MISCELLANEOUS EXPENSES		0.190	0.285
TOTAL		19.955	11.018

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2008	31.03.2007
Sales Turnover		13.187	NA
Profit/(Loss) Before Tax		0.009	1.004
Provision for Taxation		0.005	NA
Profit/(Loss) After Tax		0.004	NA
Imports :
	Capital Goods	1.771	Nil
Expenditures :
Total Expenditure		15.021	NA

KEY RATIOS

PARTICULARS		31.03.2008	31.03.2007
PAT / Total Income	(%)	0.03	NA
Net Profit Margin (PBT/Sales)	(%)	0.07	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.04	7.56
Return on Investment (ROI) (PBT/Networth)		0.00	0.65
Debt Equity Ratio (Total Liability/Networth)		5.29	7.85
Current Ratio (Current Asset/Current Liability)		2.70	1.81

LOCAL AGENCY FURTHER INFORMATION

Registered office of the company has been shifted from 463 E, 12^th Main, 8^th Cross, RMV Extension, Bangalore – 560080, Karnataka to the present address w.e.f. 26.09.2008

Trade Reference

• Omni Matrix Private Limited – Goddavallapur
• Siemens Nokia – Kolkata

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U65999KA2002PTC031116
Name of the company	ADVANCE CABLE TECHNOLOGIES LIMITED
Address of the registered office or of the principal place of business in India of the company	G-1, Sunrise Serenity, No. 1, 4^th Road, M R Garden, Gedanahalli, Ashwathnagar, Bangalore – 560094, Karnataka
Type of charge	Immovable Property Book Debts Movable Property Floating Charge
Particular of charge holder	State Bank of India Commercial Branch Industrial Estate, Rajajinagar, Bangalore – 560044, Karnataka, India surevict@gmail.com
Nature of description of the instrument creating or modifying the charge	Agreement of loan cum hypothecation form SME – 2 and Letter of confirmation for creation of mortgage by deposit of title deeds SME – 5, [Both pertain to the same charge]
Date of instrument Creating the charge	25.10.2008
Amount secured by the charge	Rs. 47.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Rate : [1] WCL – At 2 % above SBAR with a minimum of 15.75 % p.a. rising or falling therewith on daily products with monthly rests. Present effective rate 15.75 % p.a. [2] TL-AT 2.5 % above SBAR with a minimum of 16.25 % p.a. rising or falling therewith, on daily products with monthly rest. Penal interest for non compliance of terms of sanction : MAX 2 % p.a. over the normal rate. Prepayment penalty as per terms of sanction Terms of Repayment WCL – On demand advance is for a period of 12 months and subject to review as per sanction Term loan : In 39 Months. First 10 quarterly instilments of Rs. 0.400 Million each and last 2 quarterly of Rs. 0.500 month each with effect from April 2009 Margin RM/SFG/BD/Receivables/LC – 25 % BG – 40 % Term Loan – 29 % Extent and Operation of the charge Exclusive first charge on the assets of the company and to the full extent. Others CC – Rs. 20.000 Millions TL – Rs. 5.000 Millions BG – Rs. 7.500 Millions LC RS. 15.000 Millions Total Rs. 47.500 Millions
Short particulars of the property charged	Hypothecation of company’s present and future movable fixed assets and current assets like stocks, raw materials, semi finished and finished goods, book debts, receivables, outstanding monies, bills, rights, stores, components, furniture and fittings, other movables, plant and machinery, vehicles and assets to be purchased out of bank finance EM of land building at Plot No 14 Sy No 95 KIADB Industrial Area, Doddaballapur Bangalore Rural Dist

Fixed Assets

• Land and Building
• Plant and Machinery
• Office Equipments
• Computers
• Electrical Fittings

Taxes on Income

In compliance with Accounting Standard – As 22 relating to “Accounting for Tax on Income” issued by the Institute of Chartered Accountants of India, the Company has the deferred tax assets arising out of timing difference for the period up to 31^st March, 2008 of Rs. 1114 has been recognized in the Profit and Loss Account.

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	Indian Rupees
US Dollar	1	Rs.48.71
UK Pound	1	Rs.72.85
Euro	1	Rs.64.70

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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