MIRA INFORM REPORT

Report Date :

12.01.2011

IDENTIFICATION DETAILS

Name :	aurionpro solutions (hong kong) ltd.
Registered Office :	C/o Boardroom Corporate Services (HK) Ltd. 12/F., The Lee Gardens, 33 Hysan Avenue, Causeway Bay
Country :	Hong Kong
Date of Incorporation :	14.09.2007
Com. Reg. No.:	38566933
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of Software products, etc.

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

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
Hong Kong	A2	A2

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

Company name

AURIONPRO SOLUTIONS (HONG KONG) LTD.

ADDRESS

c/o Boardroom Corporate Services (HK) Ltd.

12/F., The Lee Gardens, 33 Hysan Avenue, Causeway Bay, Hong Kong.

PHONE: 2598 5234

FAX: 2598 7500

MANAGEMENT

Managing Director: Mr. Amit Rameshchandra Sheth

SUMMARY

Incorporated on: 14th September, 2007.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$1.00

Business Category: Importer, Exporter and Wholesaler.

Company Turnover: Rs 15,146,000 (Year ended 31-03-2010)

Group Operating Income: Rs 3,366,971,000 (Year ended 31-03-2010)

Employees: Nil.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

c/o Boardroom Corporate Services (HK) Ltd.

12/F., The Lee Gardens, 33 Hysan Avenue, Causeway Bay, Hong Kong.

Holding Company:-

AurionPro Solutions Ltd., India.

Affiliated Companies:-

AurionPro Group of Companies

AurionPro SCM Pte. Ltd., Singapore.

AurionPro Solutions Inc., USA.

AurionPro Solutions Pte. Ltd., Singapore.

AurionPro Solutions Pty. Ltd., Australia.

AurionPro Solutions SPC, Bahrain.

AuroFidel Outsourcing Ltd., India.

Auroscient Outsourcing Ltd., India.

E2E Infotech (India) Pvt. Ltd., India.

E2E Infotech Ltd., UK.

Integro Technologies Pte. Ltd., Singapore.

Integro Technologies Sdn. Bhd., Malaysia.

Sena Systems Inc., USA.

Sena Systems Pvt. Ltd., India.

Silicon TechCorp, USA.

etc.

BUSINESS REGISTRATION NUMBER

38566933

COMPANY FILE NUMBER

1167382

MANAGEMENT

Managing Director: Mr. Amit Rameshchandra Sheth

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$1.00

SHAREHOLDER

(As per registry dated 14-09-2010)

Name	No. of share
AurionPro Solutions Ltd. 404, Winchester, High Street, Hiranandani Business Park, Powai, Mumbai 400076, India.	1 =

DIRECTORS

(As per registry dated 14-09-2010)

Name (Nationality)	Address
Amit Rameshchandra SHETH	B-1204, Eternia Main Street, Hiranandani Gardens, Powai, Mumbai 400076, India.
Paresh Chandulal ZAVERI	3, Siglap Road, #06-23, Mandarin Garden, Singapore 448907.

SECRETARY

(As per registry dated 12-10-2010)

Name	Address	Co. No.
Boardroom Corporate Secretaries (HK) Ltd.	12/F., The Lee Gardens, 33 Hysan Avenue, Causeway Bay, Hong Kong.	1189239

HISTORY

The subject was incorporated on 14th September, 2007 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Software products, etc.

Employees: Nil.

Commodities Imported: India, Europe, etc.

Markets: Hong Kong, China, other Asian countries, etc.

Company Turnover: Rs 15,146,000 (Year ended 31-03-2010)

Group Operating Income: Rs 2,744,068,000 (Year ended 31-03-2009)

Rs 3,366,971,000 (Year ended 31-03-2010)

Terms/Sales: As per contracted.

Terms/Buying: L/C, T/T, D/P, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$1.00

Loss After Taxation: Rs 2,898,000 (Year ended 31-03-2010)

Group Net Profit: Rs 403,152,000 (Year ended 31-03-2009)

Rs 404,957,000 (Year ended 31-03-2010)

Profit or Loss: Made a loss in FY 2010.

Condition: Business is not active in Hong Kong.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

AurionPro Solutions (Hong Kong) Ltd. is a wholly-owned subsidiary of AurionPro Solutions Ltd. [AurionPro] which is an India-based firm.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at 12/F., The Lee Gardens, 33 Hysan Avenue, Causeway Bay, Hong Kong known as Boardroom Corporate Services (HK) Ltd. which is handling its correspondences and documents. The corporate secretary of the subject is Boardroom Corporate Secretaries (HK) Ltd. which is an affiliated company of Boardroom Corporate Services (HK) Ltd. The subject has no employees in Hong Kong.

AurionPro is a listed firm in India. It is the holding company of the AurionPro Group. AurionPro provides software products and consulting services to banking and financial industries in India and internationally. Its principal products include iCashPro, a Web-based system consisting of front‑end and back-end banking operations used in the cash management process; dealPro that bridges the gap between the branch and treasury system; amlPro, which monitors the accounts, customers, and parties; kycPro that enables banks to automate the compliance norms and due diligence practices; and fscmPro that operates as a platform to conduct the procurement process and sales. Its SmartLender Suite comprises SmartLender Corporate, an end‑to-end integrated credit risk management system, which offers credit processing, credit rating, collateral and limits management, and credit portfolio management systems; and SmartLender Retail consisting of credit processing, credit control, collateral and credit administration, and credit portfolio management systems for catering to the product offerings of banks, such as mortgage, auto, and renovation loans.

AurionPro also offers SmartLender collateral and limits management system for credit portfolio risk management; retail and corporate Internet banking solutions; and financial planning system for client management, plan writing, portfolio and risk management, insurance register, risk and investment plan writing, and wealth management applications. Furthermore, it provides PayPro, a cash management tool; CollectPro, a collection module; DivPro, which provides coverage of operational and MIS requirements for dividend/interest warrants; PDCPro system that processes post-dated cheques; and mandatePro system that enables processing of inward and outward transactions.

Additionally, AurionPro offers middle office management systems, currency chest management systems, and market risk and credit risk management solutions. AurionPro was founded in 1997 and is headquartered in Mumbai, India.

For the year ended 31st March, 2010, the income from operation of the Group amounted to Rs 3,367.0 million (2009: Rs 2,744.1 million), net profit for the year was Rs 405.0 million (2009: Rs 403.2 million).

For the year ended 31st March, 2010, the turnover of the subject amounted to Rs 15.1 million, made a loss of Rs 2.9 million. Total assets of the subject amounted to Rs 1,252,000.

The subject’s business in Hong Kong is not very active although it is fully supported by the AurionPro Group. History in Hong Kong is over three years and three months.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

REMARKS

Brief personal information of the principal director:-

Mr. Amit Rameshchandra SHETH (Managing Director), aged 43, a Mechanical Engineer and Management graduate, has over 17 years of experience in corporate finance, equities and technology. Mr. Sheth, a natural entrepreneur, co-founded AurionPro in 1997. His innovative thinking and calculated risk taking ability have been vital to the rapid growth of AurionPro. At AurionPro, Mr. Sheth continues to be the key driver of growth strategies for banking and financial services sector world-wide. In addition to general management and strategic planning, Mr. Sheth is also responsible to form strategic partnerships and alliances, including M&A’s. He has a deep understanding of banking process and operations, and has a strong network of relationships in the banking sector in Asia. His greatest strength lies in the unique combination of skills – in dealing with people as well as numbers. He is the member of the audit committee, shareholders’/investors’ grievance and the remuneration/compensation committee of AurionPro.

Court Cases: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.32
UK Pound	1	Rs.70.54
Euro	1	Rs.58.70

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	--

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%)

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.