MIRA INFORM REPORT

Report Date :

27.06.2011

IDENTIFICATION DETAILS

Name :	MULTILINK COMPUTERS PRIVATE LIMITED
Registered Office :	405, Eros Appartment, 56 Nehru Place, New Delhi 110019
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	17.12.1997
Com. Reg. No.:	091201
Capital Investment / Paid-up Capital :	Rs. 1.065 millions
CIN No.: [Company Identification No.]	U72200DL1997PTC091201
TAN No.: [Tax Deduction & Collection Account No.]	DELM06460G
PAN No.: [Permanent Account No.]	AACCM6492P
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer of Computer and Peripherals and also Deals in Wireless Solutions Mikrotik, Wireless Solutions REVO and TP-LINK, Wireless Solutions Ubiquity, Wireless Solutions Edimax, Network Security and Firewall, etc.
No. of Employees :	18 Approximately

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 25896
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears to be some dip in the turnover and the profitability of the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some cautions.

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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Ms. Jyoti
Designation :	Accounts Executive
Date :	25.06.2011

LOCATIONS

Registered Office :	405, Eros Appartment, 56 Nehru Place, New Delhi 110019, India
Tel. No.:	91-11-41617563 / 993
Fax No.:	91-11-41617563
E-Mail :	info@multilink.in
Location :	Owned
Branches :	Locate At: Noida Jaipur Shop No. 18, Nehru Place, Tank Road, Jaipur, Rajasthan, India Tel No.: 91-141-5111999 / 5063455

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Saurabh Nagpal
Designation :	Director
Date of Birth/Age :	07.06.1968
Date of Appointment :	17.12.1997
Name :	Mrs. Rachna Nagpal
Designation :	Director
Date of Birth/Age :	17.11.1972
Date of Appointment :	17.12.1997

KEY EXECUTIVES

Name :	Ms. Jyoti
Designation :	Accounts Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Anil Nagpal	2500
Anil Nagpal and Family	3000
Indo European Floriculture Limited, New Delhi, India	40000
Junoon Capital Services (P) Limited, New Delhi, India	20000
M L Nagpal and Sons	3000
Mohanlal Nagpal	2500
Rachna Nagpal	2500
Saurabh Nagpal	2500
Saurabh Nagpal and Family	3000
Softgate Technologies (P) Limited, New Delhi, India	20000
Total	99000

AS ON 30.09.2010

Equity Share Breakup		Percentage of Holding
Category
Bodies corporate		80.81
Directors or relatives of directors		19.19
	Total	100.00

BUSINESS DETAILS

Line of Business :

Dealer of Computer and Peripherals and also Deals in Wireless Solutions Mikrotik, Wireless Solutions REVO and TP-LINK, Wireless Solutions Ubiquity, Wireless Solutions Edimax, Network Security and Firewall, etc.

GENERAL INFORMATION

Customers :

· End Users

· Corporate

No. of Employees :

18 Approximately

Bankers :

· ICICI Bank, Nehru Place Branch, New Delhi, India

· HDFC Bank, HDFC Bank House Senapati Bapat Marg, Lower Parel, Mumbai 400013, Maharashtra, India

· Kotak Mahindra Bank

Facilities :

Rs. In Millions

UNSECURED LOAN	31.03.2010	31.03.2009
M L Nagpal	0.100	0.100
Krishna Nagpal	0.850	0.850
Total	0.950	0.950

Banking Relations :	--
Auditors :
Name :	Manv and Associates Chartered Accountant
Address :	1649 1^st Floor, Main Bazar, Paharganj, Delhi 110055, India
Tel. No.:	91-11-23582743
Fax No.:	91-11-23582743
Associates/Subsidiaries :	Nil

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
99000	Equity Shares	Rs. 10 each	Rs. 0.990 million
	Share Application Money – Pending for Allotment		Rs. 0.075 million
			Rs. 1.065 millions

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	0.100
2] Share Application Money		0.075	0.075	2.300
3] Reserves & Surplus		5.409	5.158	3.021
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		6.474	6.223	5.421
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.070
2] Unsecured Loans		0.950	0.950	1.250
TOTAL BORROWING		0.950	0.950	1.320
DEFERRED TAX LIABILITIES		0.000	0.008	0.017
TOTAL		7.424	7.181	6.758
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.003	1.016	1.112
Capital work-in-progress		0.153	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.062	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.419	9.632	12.183
	Sundry Debtors	3.628	4.388	4.277
	Cash & Bank Balances	1.255	2.223	3.068
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	4.840	2.632	3.206
Total Current Assets		12.142	18.875	22.734
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.113	11.404	15.423
	Other Current Liabilities	0.605	0.808	1.065
	Provisions	0.218	0.500	0.604
Total Current Liabilities		5.936	12.712	17.092
Net Current Assets		6.206	6.163	5.642
MISCELLANEOUS EXPENSES		0.000	0.002	0.004
TOTAL		7.424	7.181	6.758

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales	22.195	90.677	94.127
		Other Income	0.000	0.000	0.000
		TOTAL (A)	22.195	90.677	94.127
Less	EXPENSES
		Office Expenses
		Administrative Expenses	21.794	89.384	92.566
		Advertising Expenses
		TOTAL (B)	21.794	89.384	92.566
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.401	1.293	1.561
Less	FINANCIAL EXPENSES (D)		NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.401	1.293	1.561
Less/ Add	DEPRECIATION/ AMORTISATION (F)		NA	NA	NA
	PROFIT BEFORE TAX (E-F) (G)		0.401	1.293	1.561
Less	TAX (H)		0.150	0.492	0.597
	PROFIT AFTER TAX (G-H) (I)		0.251	0.801	0.964
	Earnings Per Share (Rs.)		2.54	--	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.13	0.88	1.02
Net Profit Margin (PBT/Sales)	(%)	1.80	1.42	1.65
Return on Total Assets (PBT/Total Assets}	(%)	3.05	6.50	6.54
Return on Investment (ROI) (PBT/Networth)		0.06	0.20	0.28
Debt Equity Ratio (Total Liability/Networth)		1.06	2.19	3.40
Current Ratio (Current Asset/Current Liability)		2.04	1.48	1.33

LOCAL AGENCY FURTHER INFORMATION

WORKING RESULTS:

The Company has achieved total turnover of Rs. 22.195millions during the current year (Rs. 90.677 millions in the previous year) and earned net profit of Rs 0.401 million during the year before provision for tax (Rs. 1.293 millions in the previous year).

NOTE:

Registered office of the company has been shifted from 24, 2^nd Floor, Deepak Building, 13 Nehru Place, New Delhi 110019, India to the present address w.e.f. 16.03.2011

FIXED ASSETS:

· Air Conditioner

· Camera

· Car

· Computer

· Dvd Player

· Fax

· Furniture and Fixture

· Generator Set

· Inverter

· Led

· Locker

· Scanner

· Software

· Telephone Instruments

FORM 8

Corporate identity number of the company	U72200DL1997PTC091201
Name of the company	MULTILINK COMPUTERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	405, Eros Appartment, 56 Nehru Place, New Delhi 110019, India
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	HDFC Bank, HDFC Bank House Senapati Bapat Marg, Lower Parel, Mumbai 400013, Maharashtra, India Email: RBBform8@hdfcbank.com
Nature of instrument creating charge	Letter of Hypothecation.
Date of instrument Creating the charge	04.05.2011
Amount secured by the charge	Rs. 5.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest at the rate as may be communicated by the Bank from time to time. Terms of repayment On Demand. Margin Company shall at all times during the continuance of this security maintain the said debts of a sufficient amount to provide the margin of security as may from time to time advised by the Bank. Extent and operation of the charge Hypothecation by way of First Charge on Company's Stocks and Book Debts etc. to secure as a continuing security as mentioned in Column No.15 below for the repayment of Rs.5.000 millions, together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Short particulars of the property charged (Including location of the property)	Hypothecation by way first charge on: i) Stock in Trade, consisting of raw materials, goods in process of manufacturing finished goods, and other merchandise whatsoever being movable properties, now stored at or being stored or which may hereafter be brought into or stored at the premises, factories or warehouses or at any such place of the Borrower; any of the above which is or may be in course of transit or awaiting transit by any mode of transport to the Borrower’s factory or premises or at any other place whatsoever and wheresoever in the Borrower’s possession or occupation or at any other premises or place; and/or ii) All the debts, that is, all the book debts, outstandings, monies receivables, claims, bills, invoice documents, contracts, guarantees, and rights which are now due and owing or which may at any time hereafter during the continuance of this security becomes due and owing to the Borrower in the course of its business by any person, firm, company or body corporate or by the Government Department or office or any Municipal or Local or Public or Semi Government Body or authority or any body corporate or undertaking or project whatever in the public sector.

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.44.94
UK Pound	1	Rs.71.89
Euro	1	Rs.64.09

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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		28

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.