MIRA INFORM REPORT

Report Date :

23.08.2011

IDENTIFICATION DETAILS

Name :	MM9 INFORMATION TECHNOLOGIES PRIVATE LIMITED
Registered Office :	513/9 Shiv Puri Extension, Gurgaon – 122001, Haryana
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	09.02.2001
Com. Reg. No.:	05-034608
Paid-up Capital :	Rs. 0.808 Million
CIN No.: [Company Identification No.]	U72300HR2001PTC034608
TAN No.: [Tax Deduction & Collection Account No.]	RTKM03371E DELM09437B RTKM01789E
PAN No.: [Permanent Account No.]	AACCM6830H
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of computer and computer peripherals, they also provide networking solution
No. of Employees :	80 (approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 16000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

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

INFORMATION PARTED BY

Name :	Mr. Prakash Saini
Designation :	Accounts Manager
Contact No.:	91-9871390612
Date :	22.08.2011

LOCATIONS

Registered Office :	513/9 Shiv Puri Extension, Gurgaon – 122001, Haryana, India
Tel. No.:	91-124-4519999
Mobile No.:	91-9871390612 (Mr. Prakash Saini)
Fax No.:	Not Available
E-Mail :	prakash.saini@mm9india.com rajpal_yadav@hotmail.com
Website :	www.mm9.in www.mm9india.com
Area :	4000 sq.ft
Location :	Owned
Corporate Office :	151 Sector 31, Gurgaon, Haryana, India
Tel. No.:	91-124-4277999
Fax No.:	Not Available
E-Mail :	info@mm9india.com
Area :	3000 sq.mtr
Location :	Rented
Warehouse / Branch Office :	Located at: · Mahipalpur, Delhi, India

DIRECTORS

As On 25.09.2010

Name :	Mr. Parminder Singh Surjit Chawla
Designation :	Director
Address :	513/9 Shiv Puri Extension, Gurgaon – 122001, Haryana, India
Date of Birth/Age :	07.09.1964
Date of Appointment :	09.02.2001
DIN No.:	00089233
Name :	Mr. Parmeet Parminder Chawla
Designation :	Director
Address :	513/9 Shiv Puri Extension, Gurgaon – 122001, Haryana, India
Date of Birth/Age :	09.06.1969
Date of Appointment :	09.02.2001
DIN No.:	00145451

KEY EXECUTIVES

Name :	Mr. Prakash Saini
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As On 25.09.2010

Names of Shareholders	No. of Shares
Parminder Singh Surjit Chawla	71273
Parmeet Parminder Chawla	5000
Bhajan Surjeet Kaur	4500
Total	80773

As On 25.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of computer and computer peripherals, they also provide networking solution
Agencies Held :	· HP · Airtel · Cementech
Terms :
Purchasing :	Cash and Credit: 30 days

GENERAL INFORMATION

Customers :

· Wholesalers

· Retailers

· End Users

· DLF

· PVR

· Spicejet

· Metropotian

· Honda

· Ricoh

· Denso

· Ranbaxy

· Aviva

· Hero Honda

· XL India

No. of Employees :

80 (approximately)

Bankers :

· Oriental Bank of Commerce – B Block, Sushant Lok Phase-1, Gurgaon - 122001, Haryana, India

· ICICI Bank

· HDFC Bank

· DCB Bank Limited

· Religare Bank Limited

Facilities :

Secured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
ICICI Bank (Secured Against Hypothecation Of Car)	1.836	1.769
ICICI Bank New Loan	0.000	0.139
SCB Loan	2.459	2.205
Kotak Mahindra Loan A/c	0.000	0.430
Oriental Bank Of Commerce	2.688	0.517
Hdfc Personal Loan	0.581	1.077
DCB Bank Limited	0.000	0.321
Bajaj Auto Finance	0.819	1.195
SCB Hundi	4.184	2.902
Religare Bank Limited	1.529	0.000
Easy Access Finance	4.235	0.000
Total	18.331	10.555

Unsecured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
Parminder Singh Chawla	0.315	1.663
Prameet Chawla	0.020	0.000
Bhajan Kaur	0.600	0.600
Total	0.935	2.263

Banking Relations :	--
Financial Institute :	· Easy Access Finance · Bajaj Auto Finance
Auditors :
Name :	Rajpal Singh and Associates Chartered Accountant
Address :	H. No. 202, Sector-15, Part-1, Gurgaon – 122001, Haryana, India
Tel. No.:	91-124-2312716/4035296
Mobile No.:	91-9811115414
E-Mail :	rajpal_yadav@hotmail.com
Pan No.:	AALFR3990F

CAPITAL STRUCTURE

As On 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
80773	Equity Shares	Rs. 10/- each	Rs. 0.808 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.808	0.808	0.808
2] Share Application Money		0.048	0.048	0.048
3] Reserves & Surplus		3.359	2.064	1.643
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.215	2.920	2.499
LOAN FUNDS
1] Secured Loans		18.331	10.555	9.694
2] Unsecured Loans		0.935	2.263	0.740
TOTAL BORROWING		19.266	12.818	10.434
DEFERRED TAX LIABILITIES		0.009	0.009	0.009
TOTAL		23.490	15.747	12.942
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.200	5.513	3.726
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.204	0.138	0.126
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.472	13.123	12.125
	Sundry Debtors	41.199	32.482	32.082
	Cash & Bank Balances	0.237	2.019	0.330
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	6.155	5.003	4.185
Total Current Assets		56.063	52.627	48.722
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	35.458	35.460	37.735
	Other Current Liabilities	1.847	6.637	1.461
	Provisions	0.672	0.434	0.436
Total Current Liabilities		37.977	42.531	39.632
Net Current Assets		18.086	10.096	9.090
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		23.490	15.747	12.942

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	210.016	181.715	169.055
		Other Income	42.461	22.551	8.794
		TOTAL (A)	252.477	204.266	177.849
Less	EXPENSES
		Cost of goods consumed / sold	218.946	179.751
		Personnel costs	12.212	10.447
		Administrative and other expenses	13.388	7.570
		Selling Expenses	2.007	1.036
		TOTAL (B)	246.553	198.804	174.423
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5.924	5.462	3.426
Less	FINANCIAL EXPENSES (D)		2.847	3.518	1.897
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.077	1.944	1.529
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.176	1.089	0.715
	PROFIT BEFORE TAX (E-F) (G)		1.901	0.855	0.814
Less	TAX (I)		0.672	0.445	0.433
	PROFIT AFTER TAX (G-I) (J)		1.229	0.410	0.381
	DEFERRED TAX ASSETS/LIABILITIES		0.066	0.011	0.061
	BALANCE CARRIED TO THE B/S		1.295	0.421	0.442
	Earnings Per Share (Rs.)		12.29	NA	NA

Particulars	31.03.2011
Sales Turnover (approximately)	227.000

The above information has been parted by Mr. Prakash Saini (Accounts Manager)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.49	0.20	0.21
Net Profit Margin (PBT/Sales)	(%)	0.91	0.47	0.48
Return on Total Assets (PBT/Total Assets}	(%)	3.10	1.47	1.55
Return on Investment (ROI) (PBT/Networth)		0.45	0.29	0.33
Debt Equity Ratio (Total Liability/Networth)		13.58	18.96	20.03
Current Ratio (Current Asset/Current Liability)		1.48	1.24	1.23

LOCAL AGENCY FURTHER INFORMATION

THE DETAILS OF SUNDRY CREDITORS

Rs. In Millions

Particulars	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors	35.458	35.460	37.735

Trade References:

· Yatra Online Private Limited

· GSK Limited – Gurgaon

Form 8:

This form is for

Modification of charge

Charge identification number of the modified

10006333

Corporate identity number of the company

U72300HR2001PTC034608

Name of the company

MM9 Information Technologies Private Limited

Address of the registered office or of the principal place of business in India of the company

513/9 Shiv Puri Extension, Gurgaon - 122001, Haryana, India

Type of charge

Book Debts

Movable Property

Floating Charge

Uncalled Share Capital

Any Interest in immovable property

Particular of charge holder

Name :	Oriental Bank of Commerce
Address :	B Block, Sushant Lok Phase-1, Gurgaon - 122001, Haryana, India
Email :	rkk1987@yahoo.com

Nature of description of the instrument creating or modifying the charge

As Per Supplemental Agreement To Secure Credit/Loan Facilities

Date of instrument Creating the charge

12.02.2008

Amount secured by the charge

Rs. 5.000 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest - PLR + 1%i.e. 14.25%

Terms of Repayment - One Year

Margin - 25% on stock and receivables

Extent and Operation of the charge - As Per Supplemental Agreement To Secure Credit/Loan Facilities

Others - Charge To Be Modified From Rs.3.000 millions. To Rs.5.000 millions.

Short particulars of the property charged

Charge Over Property No.72 ,Danish Hills Viev Coloney, Village Dankheda, Bhopal In The Name Of Smt. Prameet Chawla Having Mv Of Rs.2.000 millions.

Date of latest modification prior to the present modification

27.05.2006

Particulars of the present modification

Charge To Be Enhabced From Rs.3.000 millions. To Rs.5.000 millions.

Fixed Assets:

· Car

· Cellular Phone

· Fax Machine

· Furniture and fixture

· Computers

· Generator set

· Refrigerator

· Scooter

· EPBX systems

· Door access system

· Speaker system

· Vacuum cleaner

· Water filter

· Airconditioner

· Invertor

· Cash box

· Aqua guard filter

· Camera

· LCD

· Sap

· Fire extinguisher

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.45.95
UK Pound	1	Rs.75.76
Euro	1	Rs.66.01

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		31

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	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
-	NB	New Business	-

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.