MIRA INFORM REPORT

Report Date :

28.06.2011

IDENTIFICATION DETAILS

Name :	DATACOM PRODUCTS (INDIA) PRIVATE LIMITED
Registered Office :	214, Champaklal Udyog Bhavan, 105 Sion Koliwada Road, Kari Road (East), Mumbai – 400022, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	18.08.2000
Com. Reg. No.:	11-128319
Capital Investment / Paid-up Capital :	Rs.8.500 Millions
CIN No.: [Company Identification No.]	U72100MH2000PTC128319
TAN No.: [Tax Deduction & Collection Account No.]	MUMD07213D
PAN No.: [Permanent Account No.]	AABCD4597M
Legal Form :	Private Limited Liability Company.
Line of Business :	Trader and Distributor of Telephone Equipments and Call Center Applications.
No. of Employees :	40 (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 130000
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 dealing 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 DECLINED BY

Name :	Mr. Manoj Menon
Designation :	Accounts Manager
Contact No.:	91-9819817151
Date :	25.06.2011

LOCATIONS

Registered Office :	214, Champaklal Udyog Bhavan, 105 Sion Koliwada Road, Kari Road (East), Mumbai – 400022, Maharashtra, India
Tel. No.:	91-22-24019500/ 24061000
Mobile No.:	91-9819817151 (Mr. Manoj Menon)
Fax No.:	91-22-24061100
E-Mail :	manoj.menon@datacom.co.in viyer@dpplindia.net sales@datacom.co.in
Website :	http://www.datacom.co.in
Area :	1000 Sq. ft.
Location :	Owned
Pune Branch Office :	101, Kumar Gairma, Tadiwala Road, Pune- 411001, Maharashtra, India
Tel. No.:	91-20-66219100
Fax No.:	91-20-66219111
E-Mail :	sales@datacom.co.in

DIRECTORS

(AS ON 30.09.2010)

Name :	Mr. Venkatesh R. Iyer
Designation :	Director
Address :	501, Runwal Classique Central Avenue Road, Chembur, Mumbai-400 071, Maharashtra, India
Date of Appointment :	29.09.2007
Name :	Mrs. Sneha V. Iyer
Designation :	Director
Address :	501, Runwal Classique Central Avenue Road, Chembur, Mumbai-400 071, Maharashtra, India
Date of Appointment :	29.09.2008

KEY EXECUTIVES

Name :	Mr. Manoj Menon
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
Venkatesh R. Iyer	425000
Sneha V. Iyer	425000
Total	850000

(AS ON 30.09.2010)

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

BUSINESS DETAILS

Line of Business :	Trader and Distributor of Telephone Equipments and Call Center Applications.
Products :	· Enterprise Telephony · Business Communication Server · Data Networking Solution · Security Products · Video Conferencing Product – Polycom · Video Conferencing Product – SONY · Audio Conferencing Product
Agencies Held :	· Avaya India Limited

GENERAL INFORMATION

Suppliers :

· Abbee Consumables and Peripherals Shope Limited

· Aristo Engineers

· Ashok Traders

· Akshini Systems

· Avaya Global Conect Mumbai

· Avaya Global Conect Pune

· Chandrashekar Singh

· Communica Aids

· Computech Systems

· Deepti Arts

· Dhhupur Brothers

· G.Tech Enterprises

· Jeen Telecom

· Kiran Infosystems

· Om Steel Arts

· R V Solutions

· Tata Telecom Limited

· Telecommunication Consultants Inc.

· Universal Services

· Town Collection

Customers :

End Users and Dealers

· ACC Limited

· Accutech Network Systems Private Limited

· Ascent Networks Private Limited

· Bjaja Auto Limited

· Best Intercom Network

· Brinks Arya India (Private) Limited

· Callon Telecom

· Candover Advisors (India) Private Limited

· Cheers Interactive (India) Private Limited

· Com-Tech Services

· D S Kulkarni Developers Limited

· Finolex Industries Limited

· Hi-Tech India

· IBM Global Services India Private Limited

· Infonet Network Systems (India) Private Limited

No. of Employees :

40 (Approximately)

Bankers :

· Punjab National Bank,

Lalbaugh Branch, Mumbai – 400064, Maharashtra, India

· Axis Bank

· ICICI Bank

· Oriental Bank of Commerce

Facilities :

Secured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
Punjab National Bank – CC Account	1.513	--
Total	1.513	--

Unsecured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
Loan from Railis India Limited	--	0.818
Total	--	0.818

Banking Relations :	--
Auditors :
Name :	Ketan Negandhi and Associates Chartered Accountants
Address :	6/C, Vissanji Park, Marathi Granth, Sangrahalaya Marg, Dadar (East), Mumbai – 400014, Maharashtra, India

CAPITAL STRUCTURE

(AS ON 30.09.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
12857900	Equity Shares	Rs.10/- Each	Rs.128.579 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
850000	Equity Shares	Rs.10/- Each	Rs.8.500 Millions

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
850000	Equity Shares	Rs.10/- Each	Rs.8.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
850000	Equity Shares	Rs.10/- Each	Rs.8.500 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		8.500	8.500	8.500
2] Share Application Money		4.000	4.000	4.000
3] Reserves & Surplus		20.244	15.151	5.282
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		32.744	27.651	17.782
LOAN FUNDS
1] Secured Loans		1.513	0.000	4.349
2] Unsecured Loans		0.000	0.818	1.000
TOTAL BORROWING		1.513	0.818	5.349
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		34.257	28.469	23.131
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.649	0.777	1.119
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	25.070	27.548	31.449
	Cash & Bank Balances	0.623	(0.610)	0.214
	Other Current Assets	18.856	11.125	15.138
	Loans & Advances	0.908	0.810	0.615
Total Current Assets		45.457	38.873	47.416
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	9.262	9.292	24.002
	Other Current Liabilities
	Provisions	2.660	1.962	1.475
Total Current Liabilities		11.922	11.254	25.477
Net Current Assets		33.535	27.619	21.939
MISCELLANEOUS EXPENSES		0.073	0.073	0.073
TOTAL		34.257	28.469	23.131

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	77.150	78.082	83.471
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		NA	NA	13.587
Less	TAX		NA	NA	9.936
	PROFIT AFTER TAX		5.093	4.648	3.651
	Earnings Per Share (Rs.)		5.99	5.47	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Net Profit Margin (PBT/Sales)	(%)	NA	NA	16.28
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	27.99
Return on Investment (ROI) (PBT/Networth)		NA	NA	0.76
Debt Equity Ratio (Total Liability/Networth)		0.41	0.44	1.73
Current Ratio (Current Asset/Current Liability)		3.81	3.45	1.86

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particulars	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)	31.03.2008 (Rs. in millions)
Sundry Creditors for Goods	9.262	9.292	24.002

DETAILS OF SUNDRY CREDITORS: (PARTIAL DETAILS)

Particulars	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)	31.03.2008 (Rs. in millions)
Abbee Consumables and Peripherals Shope Limited	0.000	0.001	0.000
Aristo Engineers	0.000	0.072	0.072
Ashok Traders	0.166	0.101	0.846
Akshini Systems	0.015	0.028	0.000
Avaya Global Conect Mumbai	0.983	1.935	11.850
Avaya Global Conect Pune	2.361	0.196	3.958
Chandrashekar Singh	0.398	0.789	1.110
Communica Aids	--	0.261	0.000
G. Tech Enterprises	0.032	0.032	--
Hitech Global Private Limited	0.111	0.075	--
Kushal Shukla	0.542	0.867	0.619
Minal Salvi	0.104	0.124	--
Pioneer Telecom Services	0.082	0.128	--
Prerna Joshi	0.072	0.372	0.372
R V Solutions	0.006	--	0.017
Tech Pacific (India) Limited	0.012	1.585	--
Universal Services	0.213	0.124	0.013

OPERATIONS:

Owing to recessionary conditions prevailing in the market the Company could not achieve growth in sales. Sales during the year amounted to Rs.77.150 Millions as compared to the previous year figures of Rs.78.082 Millions registering a decline of approximately 1%. Profit after tax amounted to Rs.5.093 Millions as against Rs.4.648 Millions recording an excellent growth of more than of 9.55%. Other parameters also fared well.

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U72100MH2000PTC128319
Name of the company	DATACOM PRODUCTS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Kari Road (East), Mumbai - 400012, Maharashtra, India
Type of charge	Book Debts Others - CC Stocks
Particular of charge holder	Punjab National Bank, Lalbaugh, Mumbai-400064, Maharashtra, India Email: bo0064@pnb.co.in
Nature of description of the instrument creating or modifying the charge	Hypothecation of Goods and Book Debts to Secure Cash Credit Facility
Date of instrument Creating the charge	28.05.2007
Amount secured by the charge	Rs.2.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 14.25% p.a. Terms of Repayment The amount due to the bank on this account shall be payable by the borrowers at Lalbaugh, Mumbai. Margin For Stocks- 25% For Book Debts- 50% Extent and Operation of the charge CC Stocks and Book Debts of Rs.2.000 Millions.
Short particulars of the property charged	1) The present and future stocks of Raw Materials, WIP, Finished Goods, Consumables, Stores and Spares Stored at registered office of the company and Plot No. 185, Sunny Niwas, Sector-17, Navi Mumbai. 2) Present and future book debts, outstanding decrees, money receivables, claims, securities, government subsidies, investments, rights and other movables assets excluding bills.

FIXED ASSETS:

· Computers

· Fax

· Water Cooler

· Accent Car

· Sony colour TV

· Refrigerator

· Audio Systems

· Printer

· Air Condition

· Card Scanner

· Furniture and Fixtures

· Mobile

· Lap top

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.45.10
UK Pound	1	Rs.71.88
Euro	1	Rs.63.75

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.