MIRA INFORM REPORT

Report Date :

04.10.2011

IDENTIFICATION DETAILS

Name :	D S DATA SPEC PRIVATE LIMITED
Registered Office :	SCO 2453-54, Second Floor, Sector 22 – C, Chandigarh-160022
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	28.03.2003
Com. Reg. No.:	53-025891
Capital Investment / Paid-up Capital :	Rs.0.960 Million
CIN No.: [Company Identification No.]	U30009CH2003PTC025891
TAN No.: [Tax Deduction & Collection Account No.]	PTLM11193A
PAN No.: [Permanent Account No.]	AABCD7791H
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer of Computer Peripherals.
No. of Employees :	More than 15 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 8000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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. Gurjeet Singh Chhabra
Designation :	Director
Contact No.:	91-9417218300 91-172-2711512
Date :	03.10.2011

LOCATIONS

Registered Office :	SCO 2453-54, Second Floor, Sector 22-C, Chandigarh-160022, India
Tel. No.:	91-172-2711512/2700512
Mobile No.:	91-9417218300 [Mr. Gurjeet Singh Chhabra] 91-9417218200 [Mr. Satpal Singh Chhabra]
Fax No.:	91-172-27005812
E-Mail :	dataspec@sancharnet.in
Area :	2500 sq. ft.
Location :	Owned

DIRECTORS

As on 30.09.2010

Name :	Mr. Kartar Singh Chhabra
Designation :	Director
Address :	Kothi No. 158, Phase VII, Mohali-160062, Punjab, India
Date of Birth/Age :	08.10.1932
Date of Appointment :	28.03.2003
Din No.:	02364896
Name :	Mr. Satpal Singh Chhabra
Designation :	Director
Address :	Kothi No. 158, Phase VII, Mohali-160062, Punjab, India
Date of Birth/Age :	15.05.1966
Date of Appointment :	28.03.2003
Din No.:	02364940
Name :	Mr. Gurjeet Singh Chhabra
Designation :	Director
Address :	Kothi No. 158, Phase VII, Mohali-160062, Punjab, India
Date of Birth/Age :	13.03.1968
Date of Appointment :	28.03.2003
Din No.:	02354100

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Kartar Singh Chhabra	7500
Satpal Singh Chhabra	67540
Gurjeet Singh Chhabra	21000
Total	96040

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 of Computer Peripherals.
Agencies Held :	APC HP India Epson India Sony India
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

• Sony India
• Ingram

Customers :

End Users, OEM’s and Others

No. of Employees :

More than 15 [Approximately]

Bankers :

• Punjab National Bank : Sector – 37 Branch
• HDFC Bank Limited: Sector – 9 Branch
• ICICI Bank: Sector – 9 Branch
• The Karur Vysya Bank Limited, SCO 52-53, Sector 34-A, Chandigarh-160022, India
• Yes Bank

Facilities :

Secured Loan	As on 31.03.2010 [Rs. in Millions]	As on 31.03.2009 [Rs. in Millions]
Punjab National Ban OD	0.188	0.785
Yes Bank	0.357	0.043
Total	0.545	0.828
Unsecured Loan
Kartar Singh HUF	0.895	0.808
S.P. Singh HUF	0.489	0.441
Gurjeet Singh	0.414	0.240
Kartar Singh	0.482	0.433
Satpal Singh	1.088	0.857
Deep Kaur	0.696	0.571
Gurpreet Kaur	0.423	0.575
Rajinder Kaur	1.396	1.128
Total	5.883	5.053

Banking Relations :	--
Auditors :
Name :	Duggal Gupta and Associates Chartered Accountants
Address :	SCO 169, 2^nd Floor, Sector 37-C, Chandigarh-160036, India
Tel. No.:	91-172-2693783/3013783
Fax No.:	91-172-2692482

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
96040	Equity Shares	Rs.10/- each	Rs.0.960 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		0.960	0.960	0.960
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.154	0.840	0.629
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.114	1.800	1.589
LOAN FUNDS
1] Secured Loans		0.545	0.828	1.349
2] Unsecured Loans		5.883	5.053	4.167
TOTAL BORROWING		6.428	5.881	5.516
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		8.542	7.681	7.105
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.047	1.208	1.574
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.078	0.059	0.039
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.887	3.770	4.246
	Sundry Debtors	5.254	7.198	4.624
	Cash & Bank Balances	0.230	0.014	0.261
	Other Current Assets	2.961	2.886	2.339
	Loans & Advances	1.016	1.220	0.804
Total Current Assets		15.348	15.088	12.274
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.780	6.740	5.521
	Other Current Liabilities	0.762	1.274	1.086
	Provisions	0.389	0.660	0.175
Total Current Liabilities		7.931	8.674	6.782
Net Current Assets		7.417	6.414	5.492
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8.542	7.681	7.105

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales	34.408	39.007	28.492
		Sales - Punjab	1.179	0.044	0.551
		Bonus/Scheme & Incentive	1.361	0.173	0.628
		Commission Receipts	0.055	0.232	0.111
		Interest Received	0.200	0.144	0.134
		Amounts Written Off	0.217	0.000	0.000
		Annual Maintenance Charges	0.266	0.292	0.392
		ORC Charges Received	0.105	0.290	0.000
		Service Call Reports Reimbursement	0.000	0.012	0.231
		Service Charges Receipts	0.218	0.107	0.188
		Subscription Charges	0.000	0.028	0.000
		Warranty Reimbursements	0.018	0.062	0.000
		Miscellaneous Income	0.000	0.008	0.038
		Profit on Sale of Car	0.000	0.000	0.058
		TOTAL (A)	38.027	40.399	30.823
Less	EXPENSES
		Cost of Sales	32.115	33.749	26.497
		Establishment Expenses	2.432	2.541	2.093
		Administrative and Other Expenses	1.171	1.300	0.859
		Selling Expenses	0.848	1.406	0.231
		TOTAL (B)	36.566	38.996	29.680
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.461	1.403	1.143
Less	FINANCIAL EXPENSES (D)		0.703	0.609	0.504
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.758	0.794	0.639
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.300	0.377	0.374
	PROFIT BEFORE TAX (E-F) (G)		0.458	0.417	0.265
Less	TAX (H)		0.144	0.206	0.148
	PROFIT AFTER TAX (G-H) (I)		0.314	0.211	0.117
Less	APPROPRIATIONS
		Transfer to General Reserve	0.314	0.211	0.117
	BALANCE CARRIED TO THE B/S		0.000	0.000	0.000
	Earnings Per Share (Rs.)		3.27	2.20	--

Particulars	31.03.2011
Sales Turnover [Approximately]	68.000

The above information has been parted by Mr. Gurjeet Singh Chhabra.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.83	0.52	0.38
Net Profit Margin (PBT/Sales)	(%)	1.29	1.07	0.91
Return on Total Assets (PBT/Total Assets}	(%)	2.79	2.55	1.91
Return on Investment (ROI) (PBT/Networth)		0.22	0.23	0.17
Debt Equity Ratio (Total Liability/Networth)		6.79	8.09	7.74
Current Ratio (Current Asset/Current Liability)		1.94	1.74	1.81

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	6.780	6.740	5.521

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 involved in	--
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	--

FINANCIAL RESULTS:

During the year total receipts of the company have been Rs. 38.026 millions (Previous Year Rs. 40.400 millions ) which include Rs. 2.439 millions received as bonus/schemes and discounts, commission, interest, service charges, misc. income etc. (Previous year Rs. 1.349 millions ). The net profit for the year ended 31st March 2010 after deducting all charges and expenses including depreciation (but before providing for taxation) amounts to Rs. 0.458 millions (Previous Year Rs. 0.417 millions ).

The provision for current year tax has been made for Rs. 0.163 millions (Previous Year Rs. 0.183 millions). The concern has also created a further amount of deferred tax asset of Rs. 0.019 millions (Previous Year Rs. 0.020 millions). Further, nothing has been provided for FBT (Previous year Rs. 0.043 millions). Thus the net profit after provision for taxes is Rs. 0.314 millions (Previous Year Rs. 0.211 millions).

FUTURE PROSPECTS

Although, the business of the company has gone down marginally however the directors of the company are optimistic that the business will grow further during the future years.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U30009CH2003PTC025891
Name of the company	D S DATA SPEC PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	SCO 2453-54, Second Floor, Sector 22-C, Chandigarh-160022, India
Type of charge	Movable Property (not being pledge)
Particular of charge holder	The Karur Vysya Bank Limited, SCO 52-53, Sector 34-A, Chandigarh-160022, India
Email	chandigarh@kvbmail.com
Nature of description of the instrument creating or modifying the charge	Hypothecation of entire current assets agreement.
Date of instrument Creating the charge	09.11.2010
Amount secured by the charge	Rs.14.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 12.00% p.a. which is 3.00% over and above the base rate of the bank, compounded at monthly rest. Terms of Repayment Limit renewable on every year. Margin 50% -SOD Limit; 15%- BG Limit Extent and Operation of the charge First and exclusive hypothecation charge on the entire current assets of the Company including book debts and receivables as security for over all credit limits of Rs.14.500 Millions sanctioned to the Company.
Short particulars of the property charged	First and exclusive hypothecation charge on the entire current assets of the Company including book debts and receivables as security for over all credit limits of Rs.14.500 Millions sanctioned to the Com

TRADE REFERENCES:

• Hyderabad Government
• Bell
• Ranbaxy

FIXED ASSETS:

• Air Conditioner
• Computer Systems
• Fax Machine
• Furniture and Fixtures
• Inventor
• Machinery and Tools
• Mobile Phone
• Refrigerator
• Car Logan

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.49.23
UK Pound	1	Rs.76.07
Euro	1	Rs.65.06

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--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		29

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.