Summary Information

		Country	India
Company Name	INDUS MOBILE DISTRIBUTION PRIVATE LIMITED	Principal Name 1	Mr. D. Sathish Babu
Status	Moderate	Principal Name 2	Mr. Sankar Nathan
		Registration #	18-007585
Street Address	281, TTK Road, Alwarpet, Chennai – 600018, Tamilnadu, India
Established Date	11.01.2007	SIC Code	--
Telephone#	91-44-42112875/30511800/42912345	Business Style 1	Mobile Phone Retail Chain Univercell
Fax #	91-44-24660094	Business Style 2	--
Homepage	--	Product Name 1	Mobile Phones
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 4,444,800/-	Product Name 3	--
Shareholders	Foreign holding - 66.25% Director/ Relatives – 33.75%	Banking	--
Public Limited Corp.	NO	Business Period	4 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	B (27)
Related Company
Relation	Country	Company Name	CEO
Holding Company	Mauritius	Peepul Capital fund II LLC	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,169,178,000	Current Liabilities	274,566,000
Inventories	0.000	Long-term Liabilities	183,601,000
Fixed Assets	29,698,000	Other Liabilities	1,378,000
Deferred Assets	--	Total Liabilities	459,545,000
Invest& other Assets	172000	Retained Earnings	914,217,000
		Net Worth	739,503,000
Total Assets	1,199,048,000	Total Liab. & Equity	1,199,048,000
Total Assets (Previous Year)	1,474,992,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	5,441,081,000	Net Profit	(57,216,000)
Sales(Previous yr)	4,138,859,000	Net Profit(Prev.yr)	(56,620,000)

MIRA INFORM REPORT

Report Date :

11.10.2011

IDENTIFICATION DETAILS

Name :	INDUS MOBILE DISTRIBUTION PRIVATE LIMITED
Registered Office :	281, TTK Road, Alwarpet, Chennai – 600018, Tamilnadu
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	11.01.2007
Com. Reg. No.:	18 – 062014
Capital Investment / Paid-up Capital :	Rs. 4.445 Millions
CIN No.: [Company Identification No.]	U32109TN2007PTC062014
TAN No.: [Tax Deduction & Collection Account No.]	CHEI05707C
Legal Form :	Private Limited Liability Company
Line of Business :	Mobile Phones retail chain Univercell.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 2958000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company is under pressure. There appears huge accumulated losses recorded by the company. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	281, TTK Road, Alwarpet, Chennai – 600018, Tamilnadu, India
Tel. No.:	91-44-42112875/30511800/42912345
Fax No.:	91-44-24660094
E-Mail :	info@indusmobile.in mukundanr@gmail.com

DIRECTORS

As on 30.09.2010

Name :

Durai. Sathish Babu

Designation :

Managing Director

Address :

83/38, Flat C, Srividya Apartments, Bishop Garden, RA Puram, Chennai –600028, Tamilnadu, India

Date of Birth/Age :

28.09.1968

Date of Appointment :

11.01.2007

DIN No.:

00052809

Name :

Sankar Nathan

Designation :

Director

Address :

83/38, Flat D, Srividya Apartments, Bishop Garden, RA Puram, Chennai – 600028, Tamilnadu, India

Date of Birth/Age :

05.01.1964

Date of Appointment :

01.02.2007

DIN No.:

00071740

Name :

Nadigadda Sandeep Reddy

Designation :

Director

Address :

10A, MT Sophia, #08-14, Singapore - 228462

Date of Birth/Age :

22.07.1968

Date of Appointment :

08.03.2007

DIN No.:

00483826

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	U67120TN2001PTC046392	UNIFI Capital Private Limited	Director	04-01-01	04-01-01	-	Active	NO
2	U15137TN1986PTC012985	Venture Tech Solution Private Limited	Director	05-02-01	05-02-01	15-10-07	Active	NO
3	U92200AP2003PTC040633	IVISION Media India Private Limited	Director	20-08-04	20-08-04	30-03-07	Active	NO
4	U72900AP2002PTC039627	Ilabs Hyderabad Technology Centre Private Limited	Director	27-12-04	27-12-04	-	Active	NO
5	U93000AP2005PTC045094	Visage Media Services Private Limited	Director	10-01-05	10-01-05	08-09-08	Active	NO
6	U92113MH2006PTC205734	Integrid Media Private Limited	Nominee director	22-01-07	22-01-07	25-01-11	Active	NO
7	U32109TN2007PTC062014	Indus Mobile Distribution Private Limited	Director	29-09-07	08-03-07	-	Active	NO
8	U31103KA2002PTC030060	Universal Power Transformer Private Limited	Nominee director	24-07-08	19-02-08	12-10-09	Active	NO
9	U55101TN1994PTC027509	Oriental Cuisines Private Limited	Director	15-04-08	15-04-08	30-06-09	Active	NO
10	U67110TN1957PLC058053	Madras Stock Exchange Limited	Director	30-09-08	09-05-08	-	Active	NO
11	U74130KA2006PTC059425	Loyalty Solution and Research Private Limited	Director	29-09-10	29-05-10	-	Active	NO

Name :

Parthasarathy Venkat Shankar

Designation :

Director

Address :

No. 3C, Nithyashree Apartments, 51 Chamiers Road, R. A. Puram, Chennai – 600028, Tamilnadu, India

Date of Birth/Age :

27.04.1966

Date of Appointment :

29.11.2008

DIN No.:

02223282

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	U55101TN1994PTC027509	Oriental Cuisines Private Limited	Director	15-04-08	15-04-08	-	Active	NO
2	U32109TN2007PTC062014	Indus Mobile Distribution Private Limited	Director	28-09-09	18-06-08	-	Active	NO
3	U29299MH1994PTC077795	Kam - Avida Enviro Engineers Private Limited	Additional director	20-08-10	01-09-08	-	Active	NO
4	U51909AP2000PTC034653	Balan Natural Food Private Limited	Director	09-10-08	09-10-08	-	Active	NO
5	U72200KA2002PTC030917	Tele DNA Communication Private Limited	Director	30-11-09	30-10-09	-	Active	NO
6	U85110TN1994PTC029023	Medall Health Care Private Limited	Director	23-09-10	08-11-09	-	Active	NO
7	U31103KA2002PTC030060	Universal Power Transformer Private Limited	Additional director	12-11-09	12-11-09	-	Active	NO
8	U74130KA2006PTC059425	Loyalty Solution Research	Director	29-09-10	29-05-10	-	Active	NO
9	U41000TN2002PTC050091	Aqua Designs India Private Limited	Director	30-11-10	06-08-10	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
D Sathish Babu	9900
Sasi Sathish	100
Shankar Nathan	5000
Peepul Capital Fund ll LLC, Mauritius	29448
TOTAL	44448

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	66.25
Directors or relatives of Directors	33.75
Total	100.00

BUSINESS DETAILS

Line of Business :

Mobile Phones retail chain Univercell.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

--

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From a Bank Overdraft (Secured by the fixed deposits)	183.601	0..209
From a company under hire purchase of vehicle (Guaranteed by the Managing Director in his personal capacity)	0.000	0.126
Total	183.601	0.335

Banking Relations :
Auditors :
Name :	Brahmayya and Company Chartered Accountants
Address :	48, Masilamani Road, Balaji Nagar, Royapettah, Chennai – 600014, Tamilnadu, India
PAN.:	AAAFL1431E
Holding Company :	Peepul Capital Fund ll LLC

CAPITAL STRUCTURE

As on 30.03.2010

Authorised Capital: Rs.10.000 Millions

Issued, Subscribed and Paid up Capital: Rs. 4.445 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
49404	Equity Shares	Rs.100/- each	Rs. 4.940 Millions
5960	Redeemable Cumulative Preference Shares	Rs. 10/- each	Rs. 0.060 Million
	TOTAL		Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
44448	Equity Shares (of the above 29448 equity shares of Rs. 100 each held by the holding company, Peepul capital fund LLC)	Rs.100/- each	Rs. 4.445 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		4.445	4.445	3.333
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		914.217	914.217	460.784
4] (Accumulated Losses)		(179.159)	(121.942)	(65.321)
NETWORTH		739.503	796.720	398.796
LOAN FUNDS
1] Secured Loans		183.601	0.335	0.480
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		183.601	0.335	0.480
DEFERRED TAX LIABILITIES		0.000	0.000	2.629
TOTAL		923.104	797.055	401.905
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		29.698	34.651	38.699
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.172	87.738	31.511
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	982.031	781.786	636.473
	Cash & Bank Balances	135.044	102.936	0.666
	Other Current Assets	4.133	2.258	0.000
	Loans & Advances	47.970	7.240	3.906
Total Current Assets		1169.178	894.220	641.045
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	272.968	216.067	309.034
	Other Current Liabilities	1.598	2.810	0.135
	Provisions	1.378	0.677	0.181
Total Current Liabilities		275.944	219.554	309.350
Net Current Assets		893.234	674.666	331.695
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		923.104	797.055	401.905

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales	5441.080	4138.859	3234.360
		Other Income	11.577	12.149	6.829
		TOTAL (A)	5452.657	4151.008	3241.189
Less	EXPENSES
		Cost of goods sold	5417.396	4109.253	3219.941
		Personnel cost	23.146	16.708	6.937
		Administration and other charges	60.585	77.791	65.864
		TOTAL (B)	5501.127	4203.752	3292.742
Less	PROFIT/LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(48.470)	(52.744)	(51.553)
Less	INTEREST AND FINANCIAL EXPENSES (D)		3.794	1.046	0.064
	PROFIT/LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(52.264)	(53.790)	(51.617)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.953	5.345	4.502
	PROFIT/LOSS BEFORE TAX (E-F) (G)		(57.217)	(59.135)	(56.119)
Less	TAX (h)		0.000	2.515	1.450
	PROFIT/LOSS AFTER TAX (G-h) (I)		(57.217)	(56.620)	(57.569)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(121.942)	(65.321)	(7.752)
	BALANCE CARRIED TO THE B/S		(179.159)	(121.941)	(65.321)
	Earnings Per Share (Rs.)		(1287)	(1390)	(1994)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(1.05)	(1.36)	(1.78)
Net Profit Margin (PBT/Sales)	(%)	(1.05)	(1.43)	(1.73)
Return on Total Assets (PBT/Total Assets}	(%)	(4.77)	(6.09)	(8.25)
Return on Investment (ROI) (PBT/Networth)		(0.08)	(0.07)	(0.14)
Debt Equity Ratio (Total Liability/Networth)		0.62	0.28	0.77
Current Ratio (Current Asset/Current Liability)		4.24	4.07	2.07

LOCAL AGENCY FURTHER INFORMATION

Fixed Assets :

Tangible Assets

• Computers
• Furniture and Fittings
• Office Equipment and Library
• Vehicles

Intangible Assets

• Trademark

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.49.07
UK Pound	1	Rs.76.65
Euro	1	Rs.66.18

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.