MIRA INFORM REPORT

Report Date :

17.06.2011

IDENTIFICATION DETAILS

Name :	RACCA INFOTECH PRIVATE LIMITED
Registered Office :	C- Wing, Alco Market, Rajiv Nagar, Nashik-422009, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	30.05.2000
Com. Reg. No.:	11-126848
Capital Investment / Paid-up Capital :	Rs. 0.990 Million
CIN No.: [Company Identification No.]	U7220MH2000PTC126848
TAN No.: [Tax Deduction & Collection Account No.]	NSKR00969D
Legal Form :	Private Limited Liability Company.
Line of Business :	Trader and Dealer of Computer and Computer Peripherals.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 17000
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.

INFORMATION PARTED BY

Name :	Ms. Prachi Patil
Designation :	Accountant
Date :	16.06.2011

LOCATIONS

Registered Office/ Showroom :	C- Wing, Alco Market, Rajiv Nagar, Nashik-422009, Maharashtra, India
Tel. No.:	91- 253 – 2395513/ 2394513/ 3290806/ 3294394.
Fax No.:	91-253 - 2378513
E-Mail :	bdkhairnar@dataone.in adhar@raccainfotech.com
Website :	http://www.raccainfotech.com
Location :	Owned

DIRECTORS

As on 30.09.2010

As on 29.09.2009

Name :	Mr. Adhar Kantilal Racca
Designation :	Chairman cum Managing Director
Address :	C- Wing, Alco Market, Rajiv Nagar, Nashik-422009, Maharashtra, India
Date of Birth/Age :	04.11.1969
Date of Appointment :	13.05.2000
DIN No.:	00212421
Name :	Mr. Anand Kantilal Racca
Designation :	Managing Director
Address :	C- Wing, Alco Market, Rajiv Nagar, Nashik-422009, Maharashtra, India
Date of Birth/Age :	08.06.1971
Date of Appointment :	13.05.2000
DIN No.:	00212477
Name :	Mrs. Nirmala Kantilal Racca
Designation :	Director
Address :	C- Wing, Alco Market, Rajiv Nagar, Nashik-422009, Maharashtra, India
Date of Birth/Age :	15.08.1947
Date of Appointment :	13.05.2000
DIN No.:	01002363
Name :	Mrs. Shilpa Adhar Racca
Designation :	Director
Address :	C- Wing, Alco Market, Rajiv Nagar, Nashik-422009, Maharashtra, India
Date of Birth/Age :	30.03.1975
Date of Appointment :	13.05.2000
DIN No.:	00212581
Name :	Mrs. Jyoti Anand Racca
Designation :	Director
Address :	C- Wing, Alco Market, Rajiv Nagar, Nashik-422009, Maharashtra, India
Date of Birth/Age :	31.10.1975
Date of Appointment :	13.05.2000
DIN No.:	01002343

KEY EXECUTIVES

Name :	Ms. Prachi Patil
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Adhar Kantialal Racca	4302
Anand Kantilal Racca	432
Nirmala Kantilal Racca	432
Shilpa Adhar Racca	4302
Jyoti Anand Racca	432
Total	9900

As on 30.09.2010

Equity Share Breakup (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Trader and Dealer of Computer and Computer Peripherals.
Brand Names :	IBM Lenovo HP Microsoft Cisco/ Linksys Tyco APC Samsung Sony Epson
Agencies Held :	HP

GENERAL INFORMATION

Suppliers :

As on 31.03.2009

· Acer Cybertech Private Limited

· Compuage Infocom Limited

· Alfa Automation

· Mahalaxmi Sales Corporation

· Atul Electronics

· Embee Software Private Limited

· General Technologies

· Great International

· Easy Information Technologies Limited

· Iris Computers Limited

· Advance Infotech

· Aura Software Private Limited

· Master Light House

· Automotive Manufacturer Private Limited

· D M Enterprises

· Jayesh Trading

· Redington (India) Limited

· Right Systems and Software

· Leading Network Systems Private Limited

· Jet Technologies

· Space Computers

· Rex Infotech Private Limited

· Techicom Network Private Limited

· Swami Fabricators

· Suman Trading Company

· Santesh Systems

Customers :

End Users

As on 31.03.2009

· Adi Hi Tech Textile Private Limited

· Ace Enterprises

· Ambad Woodpackers Private Limited

· Accura Valves Private Limited

· Bapana Distributor

· Bafna Jewllars Private Limited

· Bafna Warehousing Private Limited

· Avison Industries

· Copper Semis Limited

· Bhosala Military School

· Bafna and company

· Capital Food Limited

· Bharat Sanchar Nigam Limited

· Currency Note Press

· Cupid Limited

· Computer Link

· Blossoms Endura

· B R C Runner Services

· Darshan Enterprises

· E P C Industries Limited

· Delta Finochem Private Limited

No. of Employees :

50 (Approximately)

Bankers :

• Bank of Maharashtra, Ambad I E Branch, Ambad, Nashik-422010, Maharashtra, India
• HDFC Bank Limited
• Axis Bank Limited

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Bank of Maharashtra CC 169	1.807	2.863
Bank of Maharashtra Van Loan	0.065	0.127
HDFC Car Loan	0.348	0.484
Total	2.220	3.474
Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Akash Racca	0.166	0.366
Manish Racca	0.100	0.100
Nirmal Racca	0.100	0.100
Rajendra Patil	0.000	0.125
Punjaram Karade	0.000	0.125
Sushila Racca	0.381	0.280
Kantilal M Racca	0.520	0.400
Nitin Hire	0.000	0.125
K M Racca	0.000	0.120
S P Kulkarni	0.318	0.318
Keru Kale	0.000	0.125
Adhar Racca	0.100	0.100
Shipa Racca	0.210	0.210
Agate System	1.000	1.000
Total	2.895	3.494

Banking Relations :	--
Auditors :
Name :	B D Khairnar and Company Chartered Accountant
Address :	6, Madhumalti Market, Sarda Circle, Nashik-422001, Maharashtra, India
PAN.:	AGDPK8254H
Sister Concerns :	Elixur Net Connect Private Limited, Andheri East, Mumbai

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs. 100/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9900	Equity Shares	Rs. 100/- each	Rs. 0.990 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		0.990	0.990	0.230
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3.220	2.266	1.723
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.210	3.256	1.953
LOAN FUNDS
1] Secured Loans		2.220	3.474	1.482
2] Unsecured Loans		2.895	3.494	1.669
TOTAL BORROWING		5.115	6.968	3.151
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		9.325	10.224	5.104
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.124	2.472	1.732
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	1.867	4.386	5.826
	Sundry Debtors	20.725	10.860	9.441
	Cash & Bank Balances	0.432	0.830	0.067
	Other Current Assets	0.000	0.015	0.015
	Loans & Advances	0.820	0.520	0.360
Total Current Assets		23.844	16.611	15.709
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	13.280	6.874	9.624
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	3.363	1.986	2.716
Total Current Liabilities		16.643	8.860	12.340
Net Current Assets		7.201	7.751	3.369
MISCELLANEOUS EXPENSES		0.000	0.001	0.003
TOTAL		9.325	10.224	5.104

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	93.510	66.414	53.068
		Annual Maintenance Contracts	3.210	2.786	1.915
		Commission Received	1.647	1.321	1.506
		Service, Web Design and Other Charge	1.425	0.778	0.311
		Rental PC	0.000	0.038	0.236
		Discount Received	0.681	0.938	0.585
		Other Income	0.070	0.014	0.018
		TOTAL	100.543	72.289	57.639
Less	EXPENSES
		Cost of Sales	85.879	60.180	48.009
		Other Expenses	12.889	10.941	8.548
		TOTAL	98.768	71.119	56.557
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.775	1.170	1.082
Less/ Add	DEPRECIATION/ AMORTISATION		0.348	0.302	0.217
	PROFIT BEFORE TAX		1.427	0.868	0.865
Less	TAX		0.473	0.324	0.275
	PROFIT AFTER TAX		0.954	0.544	0.590
	Earnings Per Share (Rs.)		96.36	54.95	--

Particulars	31.03.2011
Sales Turnover (Approximately)	85.110

The above information has been parted by Ms. Prachi Patil

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.95	0.75	1.02
Net Profit Margin (PBT/Sales)	(%)	1.53	1.31	1.63
Return on Total Assets (PBT/Total Assets}	(%)	5.49	4.54	4.96
Return on Investment (ROI) (PBT/Networth)		0.34	0.27	0.44
Debt Equity Ratio (Total Liability/Networth)		5.17	4.86	7.93
Current Ratio (Current Asset/Current Liability)		1.43	1.87	1.27

LOCAL AGENCY FURTHER INFORMATION

Sundry Creditors:

(Rs. in Millions)

Particulars	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors	13.280	6.874	9.624
Total	13.280	6.874	9.624

Sundry Creditors Details:

(Rs. in Millions)

Particulars	31.03.2009	31.03.2008
Acer Cybertech Private Limited	0.311	0.959
Alfa Automation	0.007	0.005
Atul Electronics	0.100	0.008
Master Light House	0.043	0.029
Ingram Micro India Private Limited	0.418	3.385
Redington (India) Limited	2.196	2.689
Right System and Software	0.036	0.153
Leading Network System Private Limited	0.245	0.069
Space System	0.325	0.219
Neoteric Informatic Limited	0.300	0.081
Patil Electric and Rewinding	0.003	0.006
Quick Heal Technologies Private Limited	0.373	0.175
Space Computers	0.095	0.0489
Rex Infotech Private Limited	0.022	0.008

Trade Reference:

• HP Electronics
• ABB Limited

Form 8:

This form is for	Creation of charge
Corporate identity number of the company	U7220MH2000PTC126848
Name of the company	RACCA INFOTECH PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	C- Wing, Alco Market, Rajiv Nagar, Nashik-422009, Maharashtra, India
Type of charge	Book Debts Movable Property
Particular of charge holder	Bank of Maharashtra, Ambad I E Branch, Ambad, Nashik-422010, Maharashtra, India
Nature of description of the instrument creating or modifying the charge	Composite deed of Hypothecation for all facilities
Date of instrument Creating the charge	03.11.2008
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 BPLR+ 0.5% i..e 14.5% presently as per C.O. guidelines. Subject to change in credit risk rating to be undertaken twice in a year. Terms of Repayment To be renewed every year. Margin 25% in Banks favour Extent and Operation of the charge First and exclusive charge and security by way of hypothecation charge in favour of the bank over the Borrower’s present and future movable plant, and / or machineries, goods, stocks of raw materials, items, inventories, stock in process, semi-finished goods, stores and spares etc.
Short particulars of the property charged	First and exclusive charge and security by way of hypothecation charge in favour of the bank over the borrower’s present and future movable plants, and / or machineries, goods, stocks of raw materials, items, inventories, stock in process, semi-finished goods, stores and spares etc. located at Shop 45, 46 and 61 at Alco Market, Rajiv Nagar, Nashik-422009

Fixed Assets:

· Computer

· Motor Cycle

· Shop

· Furniture

· Active

· Maruti Van

· Air Conditioner

· Swift Car

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.44.90
UK Pound	1	Rs.72.54
Euro	1	Rs.63.39

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	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		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	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.