MIRA INFORM REPORT

Report Date :

18.11.2011

IDENTIFICATION DETAILS

Name :	SUYOG TELEMATICS PRIVATE LIMITED
Registered Office :	41 Suyog Industrial Estate, 1^st Floor, LBS Marg, Vikhroli (West), Mumbai-400083, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	28.07.1995
Com. Reg. No.:	11-091107
Capital Investment / Paid-up Capital :	Rs.2.600 Millions
CIN No.: [Company Identification No.]	U32109MH1995PTC091107
TAN No.: [Tax Deduction & Collection Account No.]	NGPS02164B MUMS48914F
PAN No.: [Permanent Account No.]	AABCS6254K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Supplier of Telecommunication Equipment, Tower Erection, Irrigation Equipments, etc.
No. of Employees :	Information denied by the management.

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 100000
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.

INFORMATION DECLINED BY

Name :	Mr. Shivshankar Gurushantappa Lature
Designation :	Managing Director
Contact No.:	91-9324070179
Date :	17.11.2011

LOCATIONS

Registered Office :	41 Suyog Industrial Estate, 1^st Floor, LBS Marg, Vikhroli (West), Mumbai-400083, Maharashtra, India
Tel. No.:	91-22-25770328 / 25795516
Mobile No.:	91-9324070179 [Mr. Shivshankar Gurushantappa Lature]
Fax No.:	91-22-25792831 / 25795516
E-Mail :	sgl@suyoglelematics.com

DIRECTORS

As on 30.09.2010

Name :

Mr. Shivshankar Gurushantappa Lature

Designation :

Managing Director

Address :

Flat No. 5/6, Kaveri Aparments, Opposite IIT Market Gate, Powai, Mumbai-400076, Maharashtra, India

Date of Birth/Age :

07.05.1971

Date of Appointment :

28.07.1995

Din No.:

02090972

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	U32109MH1995PTC091107	SUYOG TELEMATICS PRIVATE LIMITED	Managing director	28-07-95	28-07-95	Active	YES
2	U45202MH2008PTC181032	SUPREME SUYOG FUNICULAR ROPEWAYS PRIVATE LIMITED	Additional director	10-04-08	10-04-08	Active	NO
3	U40108MH2008PTC186671	SUYOG URJA PRIVATE LIMITED	Director	11-09-08	11-09-08	Active	YES
4	U45203MH2010PTC200005	SUYOG GURBAXANI FUNICULAR ROPEWAYS PRIVATE LIMITED	Director	11-02-10	11-02-10	Active	NO

Name :

Mr. Arvind Gurushantappa Lature

Designation :

Director

Address :

Sharda Niwas, Signal Camp, Lature-413531, Maharashtra, India

Date of Birth/Age :

01.07.1975

Date of Appointment :

28.07.1995

Din No.:

02246804

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	U32109MH1995PTC091107	SUYOG TELEMATICS PRIVATE LIMITED	Director	28-07-95	28-07-95	Active	YES
2	U40108MH2008PTC186671	SUYOG URJA PRIVATE LIMITED	Director	11-09-08	11-09-08	Active	YES

Name :

Mr. Somnath Gurushantappa Lature

Designation :

Director

Address :

Signal Camp, Suyog Apartments, Near Deshi Kendra High School, Lature-413531, Maharashtra, India

Date of Birth/Age :

15.10.1963

Date of Appointment :

28.07.1995

Din No.:

02274101

Name :

Mr. Vivek Gurushantappa Lature

Designation :

Director

Address :

Signal Camp, Suyog Apartments, Near Deshi Kendra High School, Lature-413531, Maharashtra, India

Date of Birth/Age :

06.06.1973

Date of Appointment :

28.07.1995

Din No.:

02274098

Name :

Mr. Gurushantappa Nagappa Lature

Designation :

Director

Address :

Sharda Niwas, Signal Camp, Lature-413531, Maharashtra, India

Date of Birth/Age :

16.03.1943

Date of Appointment :

14.10.2008

Din No.:

02281331

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	U40108MH2008PTC186671	SUYOG URJA PRIVATE LIMITED	Managing director	11-09-08	11-09-08	Active	YES
2	U32109MH1995PTC091107	SUYOG TELEMATICS PRIVATE LIMITED	Additional director	14-10-08	14-10-08	Active	YES
3	U45203MH2010PTC200005	SUYOG GURBAXANI FUNICULAR ROPEWAYS PRIVATE LIMITED	Director	11-02-10	11-02-10	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2009

Names of Shareholders	No. of Shares
Arvind Gurushantappa Lature	10
Somnath Gurushantappa Lature	10
Vivek Gurushantappa Lature	10
Shivshankar Gurushantappa Lature	960
Gurushantappa Nagappa Lature	10
Total	1000

As on 30.09.2010

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

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Supplier of Telecommunication Equipment, Tower Erection, Irrigation Equipments, etc.

GENERAL INFORMATION

No. of Employees :

Information denied by the management.

Bankers :

· Canara Bank, Vikhroli (West) Branch, Hazari Bagh, Vikhroli, Mumbai-400083, Maharashtra, India

· State Bank of Hyderabad, Shalini Place, Dadar (West), Mumbai-400028, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2010 [Rs. in Millions]	As on 31.03.2009 [Rs. in Millions]
Secured Loan	24.129	8.504
Total	24.129	8.504
Unsecured Loan
Unsecured Loan	10.140	10.700
Total	10.140	10.700

Banking Relations :	--
Auditors :
Name :	Rambhia and Dedhia Chartered Accountants
Address :	2^nd Floor, Old Laxmi Niwas, Zaver Road, Mulund (West), Mumbai-400080, Maharashtra, India
Tel. No.:	91-22-25907522/7523
E-Mail :	rambhiadedhia@yahoo.com rambhiadedhia@gmail.com
Pan No.:	AAIPS6153J

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
210000	Equity Shares	Rs.100/- each	Rs.21.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
26000	Equity Shares	Rs.100/- each	Rs.2.600 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		2.600	0.100	0.100
2] Share Application Money		18.400	0.000	0.000
3] Reserves & Surplus		4.792	1.570	0.344
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		25.792	1.670	0.444
LOAN FUNDS
1] Secured Loans		24.129	8.504	1.491
2] Unsecured Loans		10.140	10.700	4.309
TOTAL BORROWING		34.269	19.204	5.800
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		60.061	20.874	6.244
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.026	1.984	0.005
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		14.477	10.935	2.595
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.742	0.000	0.000
	Sundry Debtors	6.587	1.377	0.000
	Cash & Bank Balances	3.167	0.351	0.692
	Other Current Assets	3.750	2.709	0.000
	Loans & Advances	48.807	6.035	3.229
Total Current Assets		66.053	10.472	3.921
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	14.493	1.039	0.000
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	12.002	1.478	0.277
Total Current Liabilities		26.495	2.517	0.277
Net Current Assets		39.558	7.955	3.644
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		60.061	20.874	6.244

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2010	31.03.2009
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	10.380	1.802
Less	FINANCIAL EXPENSES	0.000	0.000
	PROFIT BEFORE TAX	10.380	1.802
	TAX	3.348	0.557
	PROFIT AFTER TAX	7.032	1.236
	Earnings Per Share (Rs.)	270.46	1236.00

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	14.40	14.47	NA
Return on Investment (ROI) (PBT/Networth)		0.40	1.07	NA
Debt Equity Ratio (Total Liability/Networth)		2.35	13.00	13.69
Current Ratio (Current Asset/Current Liability)		2.49	4.16	14.16

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	14.493	1.039	0.000

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	10210782
Corporate identity number of the company	U32109MH1995PTC091107
Name of the company	SUYOG TELEMATICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	41 Suyog Industrial Estate, 1^st Floor, LBS Marg, Vikhroli (West), Mumbai-400083, Maharashtra, India
Type of charge	Book Debts Movable Property (not being pledge)
Particular of charge holder	Canara Bank, Vikhroli (West) Branch, Hazari Bagh, Vikhroli, Mumbai-400083, Maharashtra, India
Email	kamalax_saraf@hotmail.com
Nature of description of the instrument creating or modifying the charge	Supplemental Common Hypothecation Agreement
Date of instrument Creating the charge	14.06.2011
Amount secured by the charge	Rs.32.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As Per Sanction Terms Terms of Repayment As Per Sanction Terms Margin As Per Sanction Terms Extent and Operation of the charge Hypothecation of Stocks : 7.849 Millions as on 30.4.2011 Hypothecation of Book Debts : 38.111 Millions as on 30.4.2011
Short particulars of the property charged	Primary security: Hypothecation of stock/ semi finished goods/ finished goods. Hypothecation of entire book debts. Hypothecation of stock, goods/ materials received against guarantees.
Particulars of the present modification	Now by the present modification. Dated. 14.6.2011 the limit has been increased from Rs. 30.000 Millions to Rs. 32.500 Millions.

FIXED ASSETS:

· Furniture

· Office Equipment

· Office Premises

· Pole

· Air Conditioner

· Computer

· Furniture

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.50.72
UK Pound	1	Rs.79.87
Euro	1	Rs.68.46

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.