1. Summary Information

		Country	India
Company Name	SHIVALIK TRADE LINKS PRIVATE LIMITED	Principal Name 1	Mr. Shobhit Goel
Status	Satisfactory	Principal Name 2	Mrs. Shilpa Goel
		Registration #	20-30504
Street Address	32 E C Road, Dehradun- 248001, Uttaranchal, India.
Established Date	16.08.2005	SIC Code		----
Telephone#	91-135-2728829 / 2729602	Business Style 1		Dealer
Fax #	Not Available	Business Style 2		Distributor
Homepage	--	Product Name 1		Telephonic Instruments
# of employees	550 (Approximately)	Product Name 2		Cellular Phones
Paid-up capital	Rs. 300,000	Product Name 3		Sim Cards
Shareholders	Directors or Relatives of Directors- 100%	Banking		Punjab National Bank
Public Limited Corp.	NO	Business Period		6 Years
IPO	NO	International Ins.		----
Public Enterprise	NO	Rating		Ba (45)
Related Company
Relation	Country – India	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	150,922,000	Current Liabilities	198,051,000
Inventories	149,400,000	Long-term Liabilities	94,288,000
Fixed Assets	1,878,000	Other Liabilities	0
Deferred Assets	0,000	Total Liabilities	292,339,000
Invest& other Assets	103,000	Retained Earnings	9,662,000
		Net Worth	9,964,000
Total Assets	302,303,000	Total Liab. & Equity	302,303,000
Total Assets (Previous Year)	107,641,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	1,847,042,000	Net Profit	6,963,000
Sales(Previous yr)	1,019,573,000	Net Profit(Prev.yr)	1,266,000

MIRA INFORM REPORT

Report Date :

10.11.2011

IDENTIFICATION DETAILS

Name :	SHIVALIK TRADE LINKS PRIVATE LIMITED
Registered Office :	32, E. C. Road, Dehradun- 248001, Uttaranchal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	16.08.2005
Com. Reg. No.:	20-30504
Capital Investment / Paid-up Capital :	Rs.0.300 Million
CIN No.: [Company Identification No.]	U74999UR2005PTC030504
TAN No.: [Tax Deduction & Collection Account No.]	MRTS04296F MRTS04155E
PAN No.: [Permanent Account No.]	AAJCS4312D
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer, Trader and Distributor of Telephonic Instruments, Cellular Phones, Accessories, Cash Cards, Sim Cards and Components for Tele- Communication.
No. of Employees :	550 (Approximately) (In Office)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 39000
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.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 :	Mr. Pradeep
Designation :	Commercial Manager
Contact No.:	91-9927070852
Date :	07.11.2011

LOCATIONS

Registered Office :	32 E C Road, Dehradun- 248001, Uttaranchal, India.
Tel. No.:	91-135-2728829 / 2729602
Mobile No.:	91-9927070852 (Mr. Pradeep)
Fax No. :	Not Available
E-Mail :	mgoel@vsnl.com mgoel888@gmail.com
Location :	Rented
Warehouse :	9, Co-Operative Industrial Estate, Patel Nagar, Dehradun – 248 001, Uttaranchal, India

DIRECTORS

As on 30.09.2010

Name :	Mr. Shobhit Goel
Designation :	Director
Address :	32 E C Road, Dehradun- 248001, Uttaranchal, India.
Date of Birth/Age :	27.02.1975
Date of Appointment :	16.08.2005
DIN No. :	01423862

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74999UR2005PTC030504	Shivalik Trade Links Private Limited	Director	16-08-05	16-08-05	-	Active	NO
2	U51109UR1980PTC005085	Garhwal Travels And Tours Pprivate Limited	Director	03-03-08	03-03-08	-	Active	NO
3	U72300UR2010PTC033115	Shivalik Infotech Private Limited	Director	01-04-10	01-04-10	-	Active	NO
4	U64201RJ2010PTC032759	REDD Communication India Private Limited	Director	15-11-10	15-11-10	10-01-11	Active	NO

Name :	Mrs. Shilpa Goel
Designation :	Director
Address :	32 E C Road, Dehradun- 248001, Uttaranchal, India.
Date of Birth/Age :	14.12.1976
Date of Appointment :	16.08.2005
DIN No. :	01346303

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74999UR2005PTC030504	Shivalik Trade Links Private Limited	Director	16-08-05	16-08-05	-	Active	NO
2	U72300UR2010PTC033115	Shivalik Infotech Private Limited	Director	01-04-10	01-04-10	-	Active	NO

Name :	Ms. Ridhima Lal
Designation :	Director
Address :	R-2/203, Raj Nagar, Ghaziabad- 201001, Uttar Pradesh, India.
Date of Birth/Age :	13.12.1965
Date of Appointment :	12.01.2009
DIN No. :	02530582

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74999UR2005PTC030504	Shivalik Trade Links Private Limited	Director	12-01-09	12-01-09	-	Active	NO
2	U72300UR2010PTC033115	Shivalik Infotech Private Limited	Director	13-05-10	13-05-10	-	Active	NO

Name :	Mr. Kunal Garg
Designation :	Director
Address :	R- 5/4, Raj Nagar, Ghaziabad- 201001, Uttar Pradesh, India.
Date of Birth/Age :	30.05.1979
Date of Appointment :	12.01.2009
DIN No. :	00509004

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U51909DL2003PTC121800	Anant Sales Private Limited	Director	18-08-03	18-08-03	-	Active	NO
2	U74999UR2005PTC030504	Shivalik Trade Links Private Limited	Director	12-01-09	12-01-09	-	Active	NO
3	U72300UR2010PTC033115	Shivalik Infotech Private Limited	Director	13-05-10	13-05-10	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pradeep
Designation :	Commercial Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Shobhit Goel	5000
Shilpa Goel	5000
N R Goel	1000
Bimal Goel	1000
N R Goel and Sons- HUF	1000
Rashi Goel	1000
Mohit Goel	100
Mohit Goel- HUF	900
Ridhima Lal	500
Sudha Hari Harlal	1000
Vimla Jain	500
Anjali Garg	4500
Ridhima Lal	2450
Bharat Lal	1000
Jaideep Lal	2500
Kunal Garg	2500
Hirday Vikram	50
TOTAL	30000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage of Holding
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Dealer, Trader, Distributor, Importer and Exporter of Telephonic Instruments, Cellular Phones, accessories, Cash Cards, Sim Cards and Components for Tele- Communication.
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Suppliers :

Samsung India Electronics Private Limited

Customers :

Wholesalers, Retailers and End Users

• Vishal Sales

No. of Employees:

550 (Approximately) (In Office)

Bankers :

• Punjab National Bank- Patel Nagar, Dehradun- 248001, Uttarakhand, India.
• ICICI Bank

Facilities :

Secured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
P.N.B CC A/c No 1516008700002332	49.938	--
ICICI Bank Civic Loan No 9875117	0.438	0.608
ICICI Bank Verna Loan No 9076382	--	0.184
Total	50.376	0.792

Unsecured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
Bimal Goel	1.833	1.615
Moit Goel HUF	1.999	1.761
N. R. Goel	1.920	1.691
N. R. Goel HUF	2.106	1.856
Rashi Goel	1.896	2.999
Shilpa Goel	2.966	1.067
Shobhit Goel	6.780	3.772
Ridhima Lal	3.775	1.075
Sudha H. H Lal	1.978	1.743
Vimla Jain	0	0.047
Anjali Garg	10.018	8.188
Mohit Goel	1.425	1.096
Bharat Lal	0.572	--
Divya Singh	0.999	--
Jaideep Lal	0.568	--
Jaideep Lal HUF	0.416	--
Kunal Garg	1.665	--
Sanjeev Garg	1.029	--
Sharad Lal	0.843	--
Hardaya Vikram	1.124	--
Total	43.912	26.910

Banking Relations :	--
Auditors :
Name :	Nidhi Kapoor and Company Chartered Accountants
Address :	38, Subhash Road, Dehradun- 248001, Uttaranchal, India
Pan No. :	AFTPK5890G

CAPITAL STRUCTURE

After 30.09.2010

Authorised Capital : Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.0.300 Million

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	Rs.10/- each	Rs.0.300 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		0.300	0.300	0.170
2] Share Application Money		0.002	0.000	0.075
3] Reserves & Surplus		9.662	2.843	2.598
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		9.964	3.143	2.843
LOAN FUNDS
1] Secured Loans		50.376	0.792	22.707
2] Unsecured Loans		43.912	26.910	14.403
TOTAL BORROWING		94.288	27.701	37.110
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		104.252	30.845	39.953
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.878	2.062	2.304
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	149.400	52.452	39.782
	Sundry Debtors	121.210	38.519	42.536
	Cash & Bank Balances	22.367	12.330	5.018
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	7.345	2.197	0.764
Total Current Assets		300.322	105.498	88.100
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.321	4.809
	Other Current Liabilities	189.666	69.681	48.086
	Provisions	8.064	2.306	2.399
Total Current Liabilities		198.051	76.796	50.485
Net Current Assets		102.271	28.702	37.615
MISCELLANEOUS EXPENSES		0.103	0.081	0.034
TOTAL		104.252	30.845	39.953

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009	31.03.2008
	TURNOVER	1847.042	1019.573	1658.393
Less	EXPENSES	1837.122	1017.706	1656.008
	PROFIT BEFORE TAX	9.920	1.867	2.385
Less	TAX	2.957	0.601	0.784
	PROFIT AFTER TAX	6.963	1.266	1.601
	Earnings Per Share (Rs.)	330.67	62.23	159.00

Particulars	31.03.2011
Sales Turnover (Approximately)	2400.000

The above information has been parted by Mr. Pradeep.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PBT / Sales	(%)	0.54	0.18	0.14
Return on Total Assets (PBT/Total Assets}	(%)	3.28	1.74	2.64
Return on Investment (ROI) (PBT/Networth)		0.99	0.59	0.84
Debt Equity Ratio (Total Liability/Networth)		29.34	33.25	30.81
Current Ratio (Current Asset/Current Liability)		1.52	1.37	1.75

LOCAL AGENCY FURTHER INFORMATION

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
12) Profitability for last three years	NO
13) Reasons for variation <> 20%	NO
14) Estimation for coming financial year	NO
15) Capital in the business	YES
16) Details of sister concerns	NO
17) Major suppliers	YES
18) Major customers	YES
19) Payments terms	YES
20) Export / Import details (if applicable)	NO
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	YES
24) Banking facility details	NO
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	--

TRADING RESULTS:

During the year the gross turnover of the company has been Rs.1847.000 millions as against Rs. 1019.600 millions in the previous year. The net profit before income tax is Rs. 9.920 millions in the current financial year as compared to Rs. 1.866 millions in the previous year.

TRADE REFERENCES:

· Samsung India Electronics Private Limited

· Vishal Sales

FORM 8:

Name of the company	Shivalik Trade Links Private Limited
Presented By	Mr. Shobhit Goel, Director
1) Date and description of instrument creating the change	Agreement of hypothecation of goods to secure to demand cash credit dated 07.11.2005
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 7.500 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation and pledge of goods
4) Gist of the terms and conditions and extent and operation of the charge.	As per arrangement letter
5) Name and Address and description of the person entitled to the charge.	Punjab National Bank, Patel Nagar, Dehradun.

Corporate identity number of the company	U74999UR2005PTC030504
Name of the company	SHIVALIK TRADE LINKS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	32 E C Road, Dehradun, Uttaranchal, India.
This form is for	Modification of charge
Type of charge	Book Debts Mobile Hand Sets of Samsung India Electronics Limited
Particular of charge holder	Punjab National Bank- Patel Nagar, Dehradun- 248001, Uttarakhand, India. e-mail id: rkanad2@pnb.co.in
Nature of description of the instrument creating or modifying the charge	Agreement for Hypothecation of Goods and Book Debts to secure cash credit facility.
Date of instrument Creating the charge	17.04.2010
Amount secured by the charge	Rs. 100.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: As per Hypothecation of Goods and Book Debts to secure cash credit facility agreement. Terms of Repayment: As per Hypothecation of Goods and Book Debts to secure cash credit facility agreement. Margin: As per the Hypothecation of Goods and Book Debts to secure cash credit facility agreement. Extent and Operation of the charge: As per Hypothecation of Goods and Book Debts to secure cash credit facility agreement.
Short particulars of the property charged	Stock of Mobile Hand Sets of Samsung India Electronics Limited and Book Debts.
Date of latest modification prior to the present modification	08.10.2009
Particulars of the present modification	Total amount of charge secured against hypothecation of stocks and book debts etc. as per details mentioned in above has now been enhanced from Rs. 70.000 Millions to Rs. 100.000 Millions. Break up of credit facilities are as under Cash Credit A/c- Rs. 70.000 Millions Non Fund based - Rs.200.000 Millions Non Fund based - Rs. 10.000 Millions Total Rs. 100.000 Millions.

FIXED ASSETS

• Computers
• Furniture and Fixtures
• Generator
• Invertor
• Office Equipments
• Vehicles
• Weighing Machine

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.49.78
UK Pound	1	Rs.80.11
Euro	1	Rs.68.82

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.