MIRA INFORM REPORT

Report Date :

16.12.2011

IDENTIFICATION DETAILS

Name :	MEDHAJ TECHNO CONCEPT PRIVATE LIMITED
Registered Office :	G-05, Sky High Chambers, 11/5, Park Road, Lucknow – 226 001, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.06.2007
Com. Reg. No.:	20-33550
Capital Investment / Paid-up Capital :	Rs.4.140 millions
CIN No.: [Company Identification No.]	U14292UP2007PTC033550
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is in the field of Consultancy in Power Sector and Trading in Power Sector.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 160000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered/Corporate Office :	G-05, Sky High Chambers, 11/5, Park Road, Lucknow – 226 001, Uttar Pradesh, India
Tel. No.:	91-522-2236526
Fax No.:	91-522-2235619
E-Mail :	mtcpl@medhaj.com mcafiling198@gmail.com gargassociates123@yahoo.co.in
Website :	http://medhaj.com
Regional Office :	C-71A, II Floor, Shivalik Road, Malviya Nagar, New Delhi, India
Tel. No.:	91-11-41090361
Fax No.:	91-11-41090359

DIRECTORS

As on 29.09.2011

Name :	Mr. Samir Tripathi
Designation :	Managing Director
Address :	A-1627, Sector I, LDA Colony, Lucknow – 226 011, Uttar Pradesh, India
Date of Birth/Age :	01.07.1970
Date of Appointment :	26.06.2007
DIN No.:	01663908

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74990UP2007PTC033453	Moksh Infratech Private Limited	Director	11-06-07	11-06-07	Active	NO
2	U14292UP2007PTC033550	Medhaj Techno Concept Private Limited	Managing director	26-06-07	26-06-07	Active	NO
3	U16002UP2007PTC034276	Akash Colonisers India Private Limited	Director	01-12-08	01-12-08	Active	NO
4	U40300DL2006PTC208767	Moksh Energy Project Private Limited	Director	01-04-10	01-04-10	Active	YES

Name :	Mrs. Alka Tripathi
Designation :	Director
Address :	A-1627, Sector I, LDA Colony, Lucknow – 226 011, Uttar Pradesh, India
Date of Birth/Age :	28.08.1970
Date of Appointment :	26.06.2007
DIN No.:	01539340

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74990UP2007PTC033453	Moksh Infratech Private Limited	Managing director	11-06-07	11-06-07	Active	NO
2	U14292UP2007PTC033550	Medhaj Techno Concept Private Limited	Director	26-06-07	26-06-07	Active	NO
3	U16002UP2007PTC034276	Akash Colonisers India Private Limited	Director	01-12-08	01-12-08	Active	NO

Name :	Ms. Rekha Tripathi
Designation :	Director
Address :	A-1627, Sector 1, LDA Colony, Kanpur Road, Lucknow – 226 011, Uttar Pradesh, India
Date of Birth/Age :	08.01.1953
Date of Appointment :	25.02.2010
DIN No.:	02961304

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U14292UP2007PTC033550	Medhaj Techno Concept Private Limited	Director	25-02-10	25-02-10	Active	NO
2	U40300DL2006PTC208767	Moksh Energy Project Private Limited	Director	01-04-10	01-04-10	Active	YES

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Alka Tripathi	36000
Samir Tripathi	378000
Total	414000

As on 29.09.2011

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

BUSINESS DETAILS

Line of Business :

Subject is in the field of Consultancy in Power Sector and Trading in Power Sector.

GENERAL INFORMATION

Customers :

· Ministry of Power, Government of India

· Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL)

· Madhyanchal Vidyut Vitran Nigam Limited (MVVNL)

· REC Power Distribution Company Limited (RECPDCL)

· Power Finance Corporation (PFC)

· Biecco Lawrie Limited

· Damodar Valley Corporation

· Lanco Infratech

· Ladakh Renewable Energy Development Agency (LREDA)

· Uttar Haryana Bijli Vitran Nigam Limited (UHBVNL)

· Dakshin Haryana Bijli Vitran Nigam Limited (DHBVNL)

· Consultancy Development Centre (CDC)

· Pashchimanchal Vidyut Vitran Nigam Limited (PVVNL)

No. of Employees :

Not Available

Bankers :

Corporation Bank

11 B N Road, Kaiserbagh, Lucknow – 226 001, Uttar Pradesh, India

Facilities :

Secured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Overdraft – Corporation Bank	7.440	4.208
Total	7.440	4.208

Unsecured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Moksh Infratech Private Limited	12.537	2.514
Total	12.537	2.514

Banking Relations :	--
Auditors :
Name :	Sanjeev Shriram Verma and Company Chartered Accountants
Address :	204, Shalimar Square, 126/31, B N Road, Lalbagh, Lucknow – 226 001, Uttar Pradesh, India
Tel. No.:	91-522-2202497 / 2202498
PAN No.:	AAYFS2893H

CAPITAL STRUCTURE

As on 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
414000	Equity Shares	Rs.10/- each	Rs.4.140 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		4.140	4.140	4.140
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		36.975	28.032	9.806
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		41.115	32.172	13.946
LOAN FUNDS
1] Secured Loans		7.440	4.208	0.000
2] Unsecured Loans		12.537	2.514	0.000
TOTAL BORROWING		19.977	6.722	0.000
DEFERRED TAX LIABILITIES		0.044	0.041	0.017
TOTAL		61.136	38.935	13.963
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.247	6.063	3.535
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	74.337	56.707	2.084
	Cash & Bank Balances	7.767	5.318	5.698
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	24.471	17.078	8.450
Total Current Assets		106.575	79.103	16.232
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	36.988	36.741	0.668
	Other Current Liabilities
	Provisions	16.698	9.490	5.136
Total Current Liabilities		53.686	46.231	5.804
Net Current Assets		52.889	32.872	10.428
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		61.136	38.935	13.963

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales	164.379	0.000	1.240
		Consultancy		105.254	31.613
		Other Income		0.717	0.682
		Prior Period adjustment – Depreciation		0.000	0.030
		TOTAL	164.379	105.971	33.565
Less	EXPENSES
		Cost of Sales	112.089	0.000	0.810
		Office, Administrative and Operating Expenses		77.111	17.485
		Preliminary Expenses Written Off		0.000	0.346
		TOTAL	112.089	77.111	18.641
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		52.290	28.860	14.924
Less/ Add	DEPRECIATION/ AMORTISATION		1.888	1.121	0.469
	PROFIT/(LOSS) BEFORE TAX		50.402	27.739	14.455
Less	TAX		41.459	9.513	5.121
	PROFIT/(LOSS) AFTER TAX		8.943	18.226	9.334
	Earnings Per Share (Rs.)		21.60	44.02	22.55

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.44	17.20	27.81
Net Profit Margin (PBT/Sales)	(%)	NA	26.35	44.00
Return on Total Assets (PBT/Total Assets}	(%)	43.90	32.57	73.13
Return on Investment (ROI) (PBT/Networth)		1.23	0.86	1.04
Debt Equity Ratio (Total Liability/Networth)		1.79	1.65	0.42
Current Ratio (Current Asset/Current Liability)		1.99	1.71	2.80

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL RESULTS AND ACTIVITIES

Company has achieved Turnover of Rs.164.379 millions (Rs.105.971 millions) during the year. It has earned profit from operations of Rs.52.290 millions (Rs.28.860 millions) and net profit of Rs.8.943 millions (Rs.18.226 millions) after Provision of taxes. The Board has paid dividend 520% being interim dividend during the year and now hereby recommend confirming the same as final dividend.

FORM 8

Corporate identity number of the company	U14292UP2007PTC033550
Name of the company	MEDHAJ TECHNO CONCEPT PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	G-05, Sky High Chambers, 11/5, Park Road, Lucknow – 226 001, Uttar Pradesh, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10147387
Type of charge	· Book debts · Movable property (not being pledge) · Floating charge · Others o Counter Guarantee
Particular of charge holder	Corporation Bank 11 B N Road, Kaiserbagh, Lucknow – 226 001, Uttar Pradesh, India E-Mail : cb0287@corpbank.co.in
Nature of instrument creating charge	1 D P N 2 Take Delivery Letter to D P N
Date of instrument Creating the charge	11.10.2011
Amount secured by the charge	Rs.80.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Commission/ Charges - as per prescribed Terms of Repayment As per Sanction Terms Margin 25% Extent and Operation of the charge The Company's Assets
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of Present and future book debts and receivables, Hypothecation of present and future Assets, Equipment and materials liying at their registered office and at different work sites present and future
Particulars of the present modification	The Bank Guarantee has now been enhanced from Rs.20.000 millions to Rs.80.000 millions by sanction an additional limit of Rs.60.000 millions. Therefore total amount of charge secured against hypothecation of all book debts assets, equipment and material etc. has now been enhanced from Rs.20.000 millions to Rs.80.000 millions.

FIXED ASSETS

· Silver Idol – Durgaji

· Furniture and Fixture

· Mobile Phones

· Air Conditioner

· Digital Meter

· Bioncular

· Cameras

· Earth Tester

· EPABX System

· Fan

· Fire Extinguisher

· Television

· Water Pump

· Electrical Fittings

· Tea and Coffee Machine

· Copier Machine

· Water Dispenser

· Fax Machine

· Garmin GPS 60 Machine

· Paper Shredder Egnomat

· Projector

· Security Control System

· Water Cooler

· Fridge

· Invertor

· Safe

· Motor Cycle

· Computer and Printer

WEB DETAILS

Profile

Subject is a Power Sector Consultant. Founded in 2007, subject started with the aim to contribute to the growth of the Power Industry by providing fully integrated consultancy services.

In the short span of time since then, they have been able to establish ourselves as one of the trusted consultants for power sector in the country. They have been able to achieve exemplary milestones in consultancy for works done in energising the towns and villages of the country, especially under the RGGVY (Rajeev Gandhi Gramin Vidyutikaran Yojna) and R-APDRP (Restructured Accelerated Power Development and Reforms Programme) schemes of Govt. of India.

They are present in almost all the major electrification schemes of Govt. of India. With site offices established all across the country, the company has proved its credibility in all the genres of distribution, transmission and generation of power.

Their aim has been to work in a thorough and precise manner, and their team of dedicated engineers has made it possible to achieve it under the guidance of highly experienced stalwarts of the Power Sector who they can boast of as having on their panel of consultants. They have believed in cultivating fresh engineers who are enthusiastic and ever ready to explore. They do not sublet any work and all their work is done by their own team. Their empanelment with renowned authorities in the Power Sector like REC, PFC, etc., and collaboration with premiere institutes of the country like IIT, ERDA, etc. have worked as catalysts in their growth.

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.54.23
UK Pound	1	Rs.83.77
Euro	1	Rs.70.46

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--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		44

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.