MIRA INFORM REPORT

Report Date :

04.11.2011

IDENTIFICATION DETAILS

Name :	CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED
Registered Office :	20, Babu Building, 375/ 377, Lamington Road, Mumbai – 400 007, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	22.09.2004
Com. Reg. No.:	11-148754
Capital Investment / Paid-up Capital :	Rs.5.000 millions
CIN No.: [Company Identification No.]	U52392MH2004PTC148754
TAN No.: [Tax Deduction & Collection Account No.]	MUMC13031E
PAN No.: [Permanent Account No.]	AACCC5396G
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer and Distributor of Computer Peripherals and Accessories.
No. of Employees :	95 (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 140000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported as usually made 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. A.P. Purohit
Designation :	Chief Financial Officer
Contact No.:	91-9987560725
Date :	03.11.2011

LOCATIONS

Registered Office :	20, Babu Building, 375/ 377, Lamington Road, Mumbai – 400 007, Maharashtra, India
Tel. No.:	91-22-23822222/ 40811234
Mobile No.:	91-9987784006 (Mr. Mitesh Shah) 91-9987560725 (Mr. A.P. Purohit)
Fax No.:	91-22-23804045/ 28903558 Ext 113
E-Mail :	ketan@ecreativeindia.com sales@ecreativeindia.com mitesh@ecreativeindia.com
Website :	http://www.ecreativeindia.com
Area :	1000 sq. ft.
Location :	Leased
Corporate Office :	B-104/111, 2^nd Floor, Mandpeshwar Industrial Estate, Off. S.V.P. Road, Opposite M.C.F. Club, Borivali (West), Mumbai - 400 092, Maharashtra, India
Tel No. :	91-22-28905551
Fax No.:	91-22-28903558 Ext 113
Email :	corporate@ecreativeindia.com
Warehouse :	Shop # 6, Stand View Building, Lokmanya Nagar, Behind S.T. Depo, Panvel:- 410 206, Maharashtra, India
Tel. No.:	91-22-27450349
Area :	1000 sq. ft.
Location :	Leased
Branch Office :	Located at: Pune Mumbai Bangalore Gurgaon Hyderabad Gujarat
Service Centre :	Located at: Bangalore Mumbai Delhi Kolkata Pune Hyderabad Chennai Ahmedabad Chennai Cochin Jaipur Secunderabad Surat Ludhiana

DIRECTORS

As on 30.09.2010

Name :

Mr. Ketan Chhaganlal Patel

Designation :

Director

Address :

A/ 7, Nimesh Kunk CHS Limited, S.V.P. Road, Borivali (West), Mumbai – 400 092, Maharashtra, India

Date of Birth/Age :

01.08.1970

Qualification :

Diploma in Computer Engineering

Date of Appointment :

22.09.2004

DIN No.:

00127633

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U30009GJ1996PTC030175	COSDEC INFORMATICS PRIVATE LIMITED	Director	04-04-01	04-04-01	Active	NO
2	U52392MH2004PTC148754	CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED	Director	22-09-04	22-09-04	Active	NO
3	U30000MH1997NPL106291	TRADE ASSOCIATION OF INFORMATION TECHNOLOGY	Director	28-09-07	28-09-07	Active	NO
4	U30007KA2007PTC042970	CHIP TECH IT PRIVATE LIMITED	Director	17-03-08	17-03-08	Active	YES

Name :

Mr. Vijay Kimatrai Advani

Designation :

Director

Address :

Savera – 1, Flat No.203, Picnic Cottage, J.P. Road, Andheri (West), Mumbai – 400 061, Maharashtra, India

Date of Birth/Age :

24.01.1966

Qualification :

B. Com.

Date of Appointment :

30.01.2006

DIN No.:

02009626

KEY EXECUTIVES

Name :	Mr. A.P. Purohit
Designation :	Chief Financial Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Ketan Chhaganlal Patel	484900
Purvi Patel	14800
Mehul Kangalwala	100
Vijay Kimatrai Advani	100
Sunil Udhani	100
Total	500000

As on 30.09.2010

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

BUSINESS DETAILS

Line of Business :	Dealer and Distributor of Computer Peripherals and Accessories.
Agencies Held :	Microsoft
Imports :
Products :	Raw Material
Countries :	· China · Taiwan · Dubai
Terms :
Selling :	Cash and Credit (30 days / 60 days / 90 days)
Purchasing :	Cash and Credit (30 days / 60 days / 90 days)

GENERAL INFORMATION

Suppliers :

Indom Micro India Limited

Customers :

· Reliance

· Vijay Sales

No. of Employees :

95 (Approximately)

Bankers :

• New India Co-Operative Bank Limited, Kartar Mansion, 35, Tribhuvan Road, Girgaum, Mumbai – 400 004, Maharashtra, India
• Standard Chartered Bank, SME Credit, 23-25, M G Road, Fort, Mumbai – 400 001, Maharashtra, India
• Bank of India, Mumbai Mid Corporate Branch, 70/80, M.G. Road, Bank of India Building, Mezzanine Floor, Fort, Mumbai – 400 001, Maharashtra, India
• ICICI Bank Limited
• The North Kanara GSB Co-Operative Bank Limited
• HDFC Bank Limited

Facilities :

Secured Loan	As on 31.03.2010 [Rs. in Millions]	As on 31.03.2009 [Rs. in Millions]
New India Co-Operative Bank Limited (OCC A/c-2974) (Subject to BRS)	0.000	1.005
Standard Chartered Bank (A/c-225-0-604799-3) (Subject to BRS)	19.963	36.017
Standard Chartered Bank (Buyers Credit)	7.562	0.000
Standard Chartered Bank (WCDL)	30.000	0.000
ICICI Bank Limited (00010613048)	0.321	0.444
ICICI Bank Limited (00011148957)	0.195	0.264
LIC of India (Keyman)	0.316	0.000
Total	58.357	37.730
Unsecured Loan
From Directors
- Ketan Chhaganlal Patel	25.748	13.858
- Vijay Kimatrai Advani	0.825	0.000
Total	26.573	13.858

Banking Relations :	--
Auditors :
Name :	S.K. Thanawala and Company Chartered Accountants
Address :	140/ 142, Princess Street, Govind Building, 2^nd Floor, Mumbai – 400 002, Maharashtra, India
Pan No.:	AAAPJ5959K
Associates/Subsidiaries :	· K.P. Enterprises Address: 20, Babu Building, 375/ 377, Lamington Road, Mumbai – 400 007, Maharashtra, India Line of Business: Dealer and Importer of Computer Peripherals and Accessories.

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 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		5.000	5.000	5.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		30.170	20.576	12.392
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		35.170	25.576	17.392
LOAN FUNDS
1] Secured Loans		58.357	37.730	24.601
2] Unsecured Loans		26.573	13.858	1.548
TOTAL BORROWING		84.930	51.588	26.149
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		120.100	77.164	43.541
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.575	2.670	2.261
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.500	0.050
DEFERREX TAX ASSETS		0.045	0.025	0.027
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	97.419	47.166	41.187
	Sundry Debtors	112.384	74.359	103.227
	Cash & Bank Balances	5.328	2.629	1.511
	Other Current Assets	3.181	1.849	2.156
	Loans & Advances	13.852	14.132	11.038
Total Current Assets		232.164	140.135	159.119
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	106.603	57.601
	Other Current Liabilities & Provisions	9.096	8.583	117.938
	Provisions	0.000	0.000	0.000
Total Current Liabilities		115.699	66.184	117.938
Net Current Assets		116.465	73.951	41.181
MISCELLANEOUS EXPENSES		0.015	0.018	0.022
TOTAL		120.100	77.164	43.541

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	853.137	705.613	681.311
		Other Income	1.393	1.925	2.795
		TOTAL (A)	854.530	707.538	684.106
Less	EXPENSES
		Cost of Purchases	850.846	669.725	662.258
		Administrative, Selling and Other Expenses	29.993	22.325	26.986
		Director’s Remuneration	2.256	1.628	1.536
		Increase/Decrease in Stock	(50.253)	(5.979)	(22.776)
		TOTAL (B)	832.842	687.699	668.004
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		21.688	19.839	16.102
Less	FINANCIAL EXPENSES (D)		6.242	5.689	2.833
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.446	14.150	13.269
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.880	0.706	0.672
	PROFIT BEFORE TAX (E-F) (G)		14.566	13.444	12.597
Less	TAX (H)		4.992	5.260	4.802
	PROFIT AFTER TAX (G-H) (I)		9.603	8.281	7.795
Less	FBT (A.Y. 2007-08)		0.011	0.026	0.000
	FBT SHORT PROVISION (A.Y. 2007-08)		0.000	0.013	0.000
	ASSESSMENT DUES (A.Y. 2007-08)		0.018	0.000	0.000
	INCOME TAX		0.000	0.058	0.000
Add:	DEFERRED TAX ASSET		0.020	0.000	0.021
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		20.576	12.392	4.576
	BALANCE CARRIED TO THE B/S		30.170	20.576	12.392
	Earnings Per Share (Rs.)		29.13	16.56	NA

Particulars	31.03.2011
Sales Turnover [Approximately]	1440.000

Expected Sales (2011-12) : Rs.1500.000 Millions

The above information has been parted by Mr. A.P. Purohit.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.12	1.17	1.14
Net Profit Margin (PBT/Sales)	(%)	1.71	1.91	1.84
Return on Total Assets (PBT/Total Assets}	(%)	6.18	9.41	7.81
Return on Investment (ROI) (PBT/Networth)		0.41	0.53	0.72
Debt Equity Ratio (Total Liability/Networth)		5.70	4.60	8.28
Current Ratio (Current Asset/Current Liability)		2.01	2.12	1.35

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	105.404	56.796	NA
Sundry Creditors for Expenses	1.199	0.805	NA
	106.603	57.601	NA

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:
Advik Compware Private Limited	3.578	0.965
Avon Computers	0.090	0.090
Compuage Infocom Limited	1.123	0.322
Compunics Technologies LLC	2.560	9.816
Multiventure Infotech Private Limited	10.522	0.000
Multi Electronics	0.531	0.372
S.E.S. Technologies Limited	24.403	9.505
Softronics Computer and Services	0.034	0.000
Top Victory Investments Limited	30.009	25.422	NA
Sundry Creditors for Expenses:
Air Speed Express	0.001	0.002
Akshay Consultants	0.018	0.009
Balaji Othale	0.292	0.222
Best Consumer	0.016	0.036
Bharti Airtel Limited	0.094	0.064
New Jolly Tours and Travels	0.116	0.050

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes (2 Years)
12) Profitability for last three years	--
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U52392MH2004PTC148754
Name of the company	CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	20, Babu Building, 375/ 377, Lamington Road, Mumbai – 400 007, Maharashtra, India
Type of charge	Book Debts Movable Property (not being pledge) Floating Charge
Particular of charge holder	Bank of India, Mumbai Mid Corporate Branch, 70/80, M.G. Road, Bank of India Building, Mezzanine Floor, Fort, Mumbai – 400 001, Maharashtra, India
Email	vlaxman@vsnl.com
Nature of description of the instrument creating or modifying the charge	Hypothecation Cum Loan Agreement (Plant and Machinery, Stocks and Book Debts)
Date of instrument Creating the charge	12.07.2011
Amount secured by the charge	Rs.15.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate of 4% above the Base Rate presently 14% p.a. Terms of Repayment Adhoc CC Facility shall be repayable in 90 days. Margin As may be stipulated by the bank from time to time. Extent and Operation of the charge Hypothecation by way of First Charge on Company's Plant & Machinery, Stocks and Book Debts etc. to secure as a Continuing Security for repayment of Rs.150 Lacs, by the Company to the Bank with interest/commission, charges, costs and expenses.
Short particulars of the property charged	All tangible movable machineries and plants (both Present and future) whether installed or not and whether lying loose or at site or in transit or acquired All tangible movable properties and assets and stocks, whatsoever nature of the Borrower (both present and future) and including but without prejudice to the All the present and future book-debts, outstanding, money receivables, claims, bills which are now due and owing or which may at any time hereafter during the

TRADE REFERENCES:

· Reliance

· Vijay Sales

· Indom Micro India Limited

FIXED ASSETS:

v Air Conditioner

v Computers

v Electrical Equipments

v EPABX Systems

v Furniture and Fixtures

v Nokia Phone

v Office Equipments

v Vehicles

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.49.37
UK Pound	1	Rs.78.50
Euro	1	Rs.67.59

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	6
--PROFITABILIRY	1~10	4
--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	YES
--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.