MIRA INFORM REPORT

Report Date :

21.11.2011

IDENTIFICATION DETAILS

Name :	MAPLE DIGITAL TECHNOLOGY INTERNATIONAL PRIVATE LIMITED
Registered Office :	250, Powai Plaza, Hiranandani, Powai, Mumbai 400076, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	25.06.2009
Com. Reg. No.:	193551
Capital Investment / Paid-up Capital :	Rs.10.000 millions
CIN No.: [Company Identification No.]	U72900MH2009PTC193551
TAN No.: [Tax Deduction & Collection Account No.]	MUMM36596A
Legal Form :	Private Limited Liability Company
Line of Business :	Reseller of Apple Premium
No. of Employees :	50 Approximately

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 52404
Status :	New Company
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is a relatively new company having satisfactory track. The company is progressing well. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small 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 PARTED BY

Name :	Mr. Krishna
Designation :	Finance Manager
Contact No.:	91-22-42142900
Date :	21.11.2011

LOCATIONS

Registered Office :	250, Powai Plaza, Hiranandani, Powai, Mumbai 400076, Maharashtra, India
Tel. No.:	91-22-42142900
Fax No.:	91-22-42142999
E-Mail :	manilshett@mapletechnologies.org accounts@mapledti.com
Website :	www.mapledti.com
Location :	Owned
Apple Premium Reseller Store:	Kamal Society, Ground Floor, Opposite National Collage, Linking Road, BAndra (West), Mumbai 400050, Maharashtra, India
Tel. No.:	91-22-40068888 / 87 / 86 / 85
Authorised Service Centre:	1 /2, Pinky Plaza, Behind Irish Pub, Near Union Bank of India, 5^th Road, Khar (West), Mumbai 400052, Maharashtra, India
Tel. No.:	91-22-26040007 / 88/ 99

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Manil B Shetty
Designation :	Director
Date of Birth/Age :	15.01.1978
Date of Appointment :	25.06.2009
DIN No.:	02261573

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	U72900MH2009PTC193551	Maple Digital Technology International Private Limited	Director	25/06/2009	25/06/2009	-	Active	NO
2	U72300MH2011PTC222692	Dots Techno-Creative Private Limited	Director	04/10/2011	04/10/2011	-	Active	NO

Name :	Mrs. Madhubala M Shetty
Designation :	Director
Date of Birth/Age :	21.09.1979
Date of Appointment :	25.06.2009
DIN No.:	02566618

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	U72900MH2009PTC193551	Maple Digital Technology International Private Limited	Director	25/06/2009	25/06/2009	-	Active	NO
2	U72300MH2011PTC222692	Dots Techno-Creative Private Limited	Director	04/10/2011	04/10/2011	17/10/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. Krishna
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Mrs. Madhubala M Shetty	5000
Mr. Manil B Shetty	95000
TOTAL	100000

AS ON 30.09.2011

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

BUSINESS DETAILS

Line of Business :	Reseller of Apple Premium
Products :	· Computer · I - Pods · I - Phone
Terms :
Selling :	Cash, Credit (30 Days)
Purchasing :	Cash, Credit (30 Days)

GENERAL INFORMATION

Suppliers :

Not Available

Customers :

· End Users

· Corporate

No. of Employees :

50 Approximately

Bankers :

Kotak Mahindra Bank, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai 400021, Maharashtra, India

Facilities :

Rs. In Millions

SECURED LOAN	31.03.2011	31.03.2010
Business Loan (secured against Card Swipes Sales)	3.404	0.000
Motor Car Loan (secured against Motor Car)	2.182	0.000
Total	5.586	0.000
UNSECURED LOAN
From Bank and Financial Institutions	16.173	0.000
Total	16.173	0.000

Banking Relations :	--
Auditors :
Name :	Sujit S Shetty Chartered Accountant
Address :	202-203 Runwal Heights Commercial, LBS Road, Mulund (West), Mumbai 400080, Maharashtra, India
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 100 each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 100 each	Rs.10.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		10.000	10.000
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		3.101	0.357
4] (Accumulated Losses)		0.000	0.000
NETWORTH		13.101	10.357
LOAN FUNDS
1] Secured Loans		5.586	0.000
2] Unsecured Loans		16.173	0.000
TOTAL BORROWING		21.759	0.000
DEFERRED TAX LIABILITIES		0.005	0.013
TOTAL		34.865	10.370
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.410	2.536
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	23.548	7.355
	Sundry Debtors	28.440	3.807
	Cash & Bank Balances	24.573	4.583
	Other Current Assets	5.146	4.785
	Loans & Advances	0.399	0.025
Total Current Assets		82.106	20.555
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	29.891	12.291
	Other Current Liabilities	21.752	0.000
	Provisions	2.156	0.597
Total Current Liabilities		53.799	12.888
Net Current Assets		28.307	7.667
MISCELLANEOUS EXPENSES		0.148	0.167
TOTAL		34.865	10.370

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Sales	219.868	14.603
		Other Income	0.000	0.000
		TOTAL (A)	219.868	14.603
Less	EXPENSES
		Cost of Materials
		Manufacturing Expenses
		Employees Remuneration	214.937	14.020
		Increase/(Decrease) in Finished Goods
		TOTAL (B)	214.937	14.020
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4.931	0.583
Less	FINANCIAL EXPENSES (D)		NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		4.931	0.583
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.954	0.066
	PROFIT BEFORE TAX (E-F) (G)		3.977	0.517
Less	TAX (H)		1.232	0.160
	PROFIT AFTER TAX (G-H) (I)		2.745	0.357
	Earnings Per Share (Rs.)		27.45	5.57

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	1.24	2.44
Net Profit Margin (PBT/Sales)	(%)	1.80	3.54
Return on Total Assets (PBT/Total Assets}	(%)	4.49	2.23
Return on Investment (ROI) (PBT/Networth)		0.30	0.05
Debt Equity Ratio (Total Liability/Networth)		5.76	1.24
Current Ratio (Current Asset/Current Liability)		1.52	1.59

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS

Rs. In Millions

Particulars	31.03.2011	31.03.2010
Sundry Creditors	29.891	12.291

PERFORMANCE

During the year under review, the company has achieved a good growth in the annual turnover, the turnover has increased from Rs 14.603 millions in 09-10 to Rs 219.868 millions in 10-11. The profit (before tax) for the year has increased from Rs 0.517 millions to Rs.3.977 millions. The management of the company is confident of doing still better in the years to come.

CURRENT YEAR OUTLOOK

Barring unforeseen circumstances, the Company expects to perform well during the current year.

FIXED ASSETS:

· Equipments

· Furniture and Fixtures

· Software

· Motor Car

· Mobile Purchase

· Computer

FORM 8

Corporate identity number of the company	U72900MH2009PTC193551
Name of the company	MAPLE DIGITAL TECHNOLOGY INTERNATIONAL PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	250, Powai Plaza, Hiranandani, Powai, Mumbai 400076, Maharashtra, India
This form is for	Creation of charge
Type of charge	Others
Particular of charge holder	Kotak Mahindra Bank, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai 400021, Maharashtra, India Email: john.fernandes@kotak.com
Nature of instrument creating charge	Deed of Hypothecation (For Term Loan Facility) Deed of Hypothecation (For Overdraft Facility)
Date of instrument Creating the charge	01.11.2010
Amount secured by the charge	Rs. 10.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Fixed @ 13% Terms of repayment Tenor of 12 Months. Extent and operation of the charge First and exclusive charge on the whole of the Borrower's present and future credit card receivables belonging to or held by the Borrower and which are now due and owing or accruing and which may at any time hereafter during the continuance of the security may become due and owing to the Borrower.
Short particulars of the property charged (Including location of the property)	First and exclusive charge on the whole of the Borrower's present and future credit card receivables more particularly described in Schedule in Deed of Hypothecation.

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

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.51.35
UK Pound	1	Rs.80.97
Euro	1	Rs.69.26

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		30

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.