MIRA INFORM REPORT

Report Date :

09.05.2011

IDENTIFICATION DETAILS

Name :	AGIV (INDIA) PRIVATE LIMITED
Registered Office :	85, V. N. Purav Marg, Sion Chunabatti Road, Mumbai-400 022, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	07.08.1990
Com. Reg. No.:	11-143706
Capital Investment / Paid-up Capital :	Rs.5.116 Millions
CIN No.: [Company Identification No.]	U65990MH1990PTC143706
TAN No.: [Tax Deduction & Collection Account No.]	MUMA14346D
PAN No.: [Permanent Account No.]	AACCA9341F
Legal Form :	Private Limited Liability Company
Line of Business :	Distributor of Broadcast Equipments.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 150000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well 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 :	Mr. Subhash Chander Oberoi
Designation :	Director
Contact No.:	91-22-24051258
Date :	07.05.2011

LOCATIONS

Registered Office :	85, V. N. Purav Marg, Sion Chunabatti Road, Mumbai-400 022, Maharashtra, India
Tel. No.:	91-22-24051258/0900
Fax No.:	91-22-24050007
E-Mail :	oberoisc@agiv-indi.com mumbai@agiv-india.com
Website :	www.agiv-india.com
Area :	2000 Sq. ft.
Location :	Owned
Branches:	Located At: · Bangalore · Delhi · Hyderabad

DIRECTORS

As on 29.09.2010

Name :	Ms. Sushila Bhagwandas Rupani
Designation :	Director
Address :	HNO-11-5-440/447, Flat No.202, Rupani Apartments, Red Hills, Hyderabd-500 001, Andhra Pradesh, India
Date of Birth/Age :	05.01.1956
Date of Appointment :	12.10.1990
Name :	Mr. Vashdev Bhagwandas Rupani
Designation :	Director
Address :	Sugi Terrace, #301, 3-13-11, Okusawa, Setagaya-ku, Tokyo, Japan
Date of Birth/Age :	01.11.1946
Date of Appointment :	13.08.2001
Name :	Mr. Subhash Chander Oberoi
Designation :	Director
Address :	Sai Dham, Dr. Jawkar Lane, Sion Chunabhatti Road, Mumbai-400 022, Maharashtra, India
Date of Birth/Age :	12.01.1943
Date of Appointment :	13.11.2002
Name :	Mr. Rajan Prithviraj Chona
Designation :	Director
Address :	No.9, 2^nd Main Stage, Kodihalli Extension, Bangalore-560 005, Karnataka, India
Date of Birth/Age :	09.01.1951
Date of Appointment :	04.04.2009

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2010

Names of Shareholders	No. of Shares
Agiv Holding Limited, British Virgin Island	49997
Sushila Bhagwandas Rupani	120003
Agiv India Holding Limited, Dubai	111380
Subhash Oberoi	179060
Chona Rajan	51160
Total	511600

As on 29.09.2010

Category	Percentage
Bodies corporate	31.54
Directors or relatives of Directors	68.46
Total	100.00

BUSINESS DETAILS

Line of Business :

Distributor of Broadcast Equipments.

Products :

Item Code No. (ITC Code)	9006.51
Product Description	Camera
Item Code No. (ITC Code)	9006.91
Product Description	Camera Accessories
Item Code No. (ITC Code)	8506.00
Product Description	Batteries

Imports :

Products :

Broadcast Equipments

Countries :

· End Users

· OEM’S

Terms :

Selling :

Cash and Credit (30 to 60 to 90 days)

Purchasing :

Cash and Credit (30 to 60 to 90 days)

GENERAL INFORMATION

Suppliers :

· Apamex Limited

· Crystal Vision Limited

· Seachange International

· Ikegami Tsuswhinki Company Limited

· Kramer Electronics Pacific Pte. Limited

· Miyakawa Drives and Controls Private Limited

· Adimedia Private Limited

· DHL Express India Private Limited

· Infocast Systems Private Limited

· Nippon Express (India) Private Limited

Customers :

· BECIL

· Broadcast Worldwide Limited

· Broadcast Media Equipments Private Limited

· Global Broadcast News Limited

· IBN Lokmat News Private Limited

· Imagine Showbiz Limited

· Media Contents and communications Private Limited

· Video Vision Corporation

No. of Employees :

20 (Approximately)

Bankers :

Canara Branch, Sion Branch, Mumbai, Maharashtra, India

Facilities :

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Datapoint Impex Private Limited	8.504	7.900
Mrs. Sarita Chona	1.000	0.600
Mr. Ranjan Chana	1.000	0.600
Sama Diagnostics and Biomedical Private Limited	1.008	0.000
Total	11.512	9.100

Banking Relations :

-

Auditors :

Name :

Shah and Bhosale

Chartered Accountants

Address :

7/8, 1^st Floor, 102-A, Madhav Wadi, Naigaon X Road, Dadar (East), Mumbai-400 014, Maharashtra, India

Tel. No.:

91-22-24156792/791

Group Company :

Name	Datapoint Impex Private Limited
Address	85, V. N. Purav Marg, Sion Chunabatti Road, Mumbai-400 022, Maharashtra, India

Subsidiary Company:

Name	Ind – Agiv Commerce Limited
Address	85, V. N. Purav Marg, Sion Chunabatti Road, Mumbai-400 022, Maharashtra, India

CAPITAL STRUCTURE

As on 29.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- Each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
511600	Equity Shares	Rs.10/- Each	Rs.5.116 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		5.116	5.116	5.116
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		31.170	25.412	20.225
04] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		36.286	30.528	25.341
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		11.512	9.100	0.000
TOTAL BORROWING		11.512	9.100	0.000
DEFERRED TAX LIABILITIES
TOTAL		47.798	39.628	25.341
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.179	4.387	4.201
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		24.968	25.156	17.738
DEFERREX TAX ASSETS		1.252	1.269	1.383
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	70.885	51.865	18.211
	Sundry Debtors	14.629	12.182	16.385
	Cash & Bank Balances	2.723	0.997	5.878
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	40.050	22.550	19.541
Total Current Assets		128.287	87.594	60.015
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	77.047	51.893	28.982
	Other Current Liabilities	17.132	12.916	16.423
	Provisions	16.709	13.969	12.591
Total Current Liabilities		110.888	78.778	57.996
Net Current Assets		17.399	8.816	2.019
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		47.798	39.628	25.341

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		TOTAL	227.931	152.341	115.166
Less	EXPENSES
		TOTAL	218.693	142.891	102.071
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		9.238	9.450	13.095
Less/ Add	DEPRECIATION/ AMORTISATION		0.654	0.656	0.693
	PROFIT BEFORE TAX		8.584	8.794	12.402
Less	TAX		2.826	3.456	4.920
	PROFIT AFTER TAX		5.758	5.338	7.482
	EARNINGS IN FOREIGN CURRENCY		3.945	6.919	3.528
	Earnings Per Share (Rs.)		11.25	-	-

Particulars	31.03.2011
Sales Turnover	300.000

Expected Sales (2011-2012) : Rs.400.000 Millions

The above information has been parted by Mr. Subhash C. Oberoi

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.53	2.27	4.27
Return on Total Assets (PBT/Total Assets}	(%)	6.48	9.56	19.31
Return on Investment (ROI) (PBT/Networth)		0.24	0.29	0.49
Debt Equity Ratio (Total Liability/Networth)		3.37	2.88	2.29
Current Ratio (Current Asset/Current Liability)		1.16	1.11	1.03

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	70.619	47.962	27.786
Sundry Creditors for Expenses	6.428	3.931	1.196

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)
Sundry Creditors for Goods
Apamex Limited	21.847	21.547	12.772
Crystal Vision Limited	3.845	3.845	2.971
Seachange International	5.864	5.869	0.000
Ikegami Tsuswhinki Company Limited	8.167	9.961	4.619
Kramer Electronics Pacific Pte. Limited	1.895	1.895	1.895
Miyakawa Drives and Controls Private Limited	2.160	2.160	1.455
Sundry Creditors for Expenses
Adimedia Private Limited	0.252	0.125	0.133
DHL Express India Private Limited	0.092	0.032	0.023
Infocast Systems Private Limited	0.076	0.074	0.000
Nippon Express (India) Private Limited	0.460	0.499	0.000

Trade Reference:

· Miditech Private Limited, Mumbai

· Cine International

· Prime Focus Limited

Fixed Assets:

· Tata Indigo Car

· Maruti Swift

· Air Conditioner

· Office Equipments

· Computers

· Printer

· Furniture and Fixture

· Service Centre

· Fax

· Colour Monitors

· Television Set

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.44.78
UK Pound	1	Rs.65.27
Euro	1	Rs.73.43

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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.