Country	India
Company Name	MUDRAKSHI HYTECH INDIA PRIVATE LIMITED	Principal Name 1	Mr. Jyotirmay Chakraborty
Status	Satisfactory	Principal Name 2	Ms. Neelam Chakraborty
Our Reference #	156726	Registration #	55-022498
Street Address	294, Mandakini Enclave, Alaknanda, New Delhi – 110019, Delhi
Established Date	14.11.1985	SIC Code	--
Telephone#	91-11-65651307/26278490	Business Style 1	Manufacturer
Fax #	91-11-26278490	Business Style 2	Supplier
Homepage	www.jayennind.com	Product Name 1	Note Sorting Machine for Branches of the Bank
# of employees	--	Product Name 2	Loose Note Counting Machines
Paid up capital	Rs.2,580,000/-	Product Name 3	Binding Machines
Shareholders	Directors or relatives of directors (100%)	Banking	Canara Bank
Public Limited Corp.	No	Business Period	26 Years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	Ba (46)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	56,692,000	Current Liabilities	33,192,000
Inventories	14,663,000	Long-term Liabilities	26,401,000
Fixed Assets	8,583,000	Other Liabilities	26,000
Deferred Assets	000	Total Liabilities	59,619,000
Invest& other Assets	7,000	Retained Earnings	17,646,000
		Net Worth	20,326,000
Total Assets	79,945,000	Total Liab. & Equity	79,945,000
Total Assets (Previous Year)	70,752,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	85,259,000	Net Profit	2,589,000
Sales(Previous yr)	50,474,000	Net Profit(Prev.yr)	1,484,000

MIRA INFORM REPORT

Report Date :

12.10.2011

IDENTIFICATION DETAILS

Name :	MUDRAKSHI HYTECH INDIA PRIVATE LIMITED
Formerly Known As :	JAYENN INDIA PRIVATE LIMITED
Registered Office :	294, Mandakini Enclave, Alaknanda, New Delhi – 110019, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	14.11.1985
Com. Reg. No.:	55-022498
Capital Investment / Paid-up Capital :	Rs.2.580 Millions
CIN No.: [Company Identification No.]	U74899DL1985PTC022498
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of Banking Automation Products.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 81000
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 – 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 :	294, Mandakini Enclave, Alaknanda, New Delhi – 110019, Delhi, India
Tel. No.:	91-11-65651307/26278490
Fax No.:	91-11-26278490
E-Mail :	rajnishca@vsnl.com
Website :	www.jayennind.com
Corporate Office :	Hotel Autrim, Suite No. H – 201, Shooting Range Road, Surajkund, Faridabad – 121001, Haryana, India
Tel. No.:	91-129-4196904/5/6
Fax No.:	91-129-4196999/4196922/4196911
E-Mail :	jayenn@ndb.vsnl.net.in

DIRECTORS

As on 30.09.2010

Name :

Mr. Jyotirmoy Chakraborty

Designation :

Director

Address :

294 – Mandakini Enclave, Greater Kailash II, New Delhi – 110019, Delhi, India

Date of Birth/Age :

25.06.1949

Date of Appointment :

07.02.2001

DIN No.:

01138779

Other Directorship :

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
U74899DL1985PTC022498	Mudrakshi Hytech India Private Limited	Director	7/02/2001	7/02/2001	-	Active	NO
U74999DL2001PLC109564	Environment Hidemitsu India Limited	Director	7/02/2001	7/02/2001	-	Active	YES

Name :

Ms. Neelam Chakraborty

Designation :

Director

Address :

294 – Mandakini Enclave, Greater Kailash II, New Delhi – 110019, Delhi, India

Date of Birth/Age :

18.12.1951

Date of Appointment :

14.11.1985

DIN No.:

01138782

Other Directorship :

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
U74899DL1985PTC022498	Mudrakshi Hytech India Private Limited	Director	14/11/1985	14/11/1985	-	Active	NO
U74999DL2001PLC109564	Environment Hidemitsu India Limited	Director	7/02/2001	7/02/2001	-	Active	YES

Name :

Ms. Geetanjali Chakraborty

Designation :

Director

Address :

294 – Mandakini Enclave, Greater Kailash II, New Delhi – 110019, Delhi, India

Date of Birth/Age :

10.05.1979

Date of Appointment :

03.07.2008

DIN No.:

02245237

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Jyotirmoy Chakraborty	16850
Neelam Chakraborty	8950
Total	25800

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of Banking Automation Products.
Products :	· Note Sorting Machine for Branches of the Bank · Loose Note Counting Machines · Bundle Note Counting Machines · Queue Management System · Coin Dispensers · Binding Machines · Cheque Deposit System

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

Canara Bank, Diplomatic Enclave, New Delhi – 110021, Delhi, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Working Capital Facility	2.621	4.059
Vehicle Loans (dues within one year Rs.0.837 Millions (Previous year Rs.0.780 Millions)	2.094	3.333
Term Loans (dues within one year Rs.2.900 Millions (Previous year Rs.2.525 Millions)	6.032	8.070
Term Loan under Raw Material Assistance Scheme	10.154	0.000
Total	20.901	15.462

Notes:

1. Working Capital facility is secured by a first charge on stock and book debts, collateral security of the property “294 Mandakini Enclave Alaknanda New Dehli” and personal guarantees of directors.

2. Vehicle loan are secured by a first charge on the assets financed and guaranteed by the directors

3. Term Loan is secured by personal guarantees of directors

4. Term Loan under Raw material Assistance Scheme is secured by a bank guarantee given by the company and personal guarantees of directors.

Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Loan from Directors	0.000	0.000
Loan from Others (Amount Payable within 1 year Rs. Nil)	5.500	4.000
Total	5.500	4.000

Banking Relations :	--
Auditors :
Name :	Rajnish and Associates Chartered Accountants
Address :	92, Defence Colony, Fly Over Market, New Delhi – 110024, Delhi, India
PAN.:	AADFR3934P

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
25800	Equity Shares (Previous period 25800 Equity shares of Rs.100/- each fully paid up)	Rs.10/- each	Rs.2.580 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		2.580	2.580	2.580
2] Share Application Money		0.100	0.100	0.100
3] Reserves & Surplus		17.646	15.056	13.572
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		20.326	17.736	16.252
LOAN FUNDS
1] Secured Loans		20.901	15.462	7.015
2] Unsecured Loans		5.500	4.000	1.638
TOTAL BORROWING		26.401	19.462	8.653
DEFERRED TAX LIABILITIES		0.026	0.000	0.217
TOTAL		46.753	37.198	25.122
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.583	7.958	9.371
Capital work-in-progress		0.000	3.060	3.060
INVESTMENT		0.007	0.007	0.007
DEFERREX TAX ASSETS		0.000	0.073	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	14.663	13.800	14.197
	Sundry Debtors	26.030	24.915	5.978
	Cash & Bank Balances	13.096	5.923	8.811
	Other Current Assets	1.360	2.316	1.778
	Loans & Advances	16.206	12.700	11.363
Total Current Assets		71.355	59.654	42.127
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	16.214	16.169	14.841
	Other Current Liabilities	14.513	15.848	14.062
	Provisions	2.465	1.537	0.540
Total Current Liabilities		33.192	33.554	29.443
Net Current Assets		38.163	26.100	12.684
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		46.753	37.198	25.122

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	85.259	50.474	NA
		Other Income	15.697	16.641
		TOTAL (A)	100.956	67.115	NA
Less	EXPENSES
		Cost of Goods Sold	47.186	33.026
		Administration and Other Expenses	20.271	12.040
		Personnel Cost	14.167	12.837	NA
		Selling and Distribution Expenses	4.811	2.142
		TOTAL (B)	86.435	60.045
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		14.521	7.070	NA
Less	FINANCIAL EXPENSES (D)		7.776	2.498	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6.745	4.572	NA
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.591	1.792	NA
	PROFIT BEFORE TAX (E-F) (G)		5.154	2.780	NA
Less	TAX (H)		2.565	1.296	NA
	PROFIT AFTER TAX (G-H) (I)		2.589	1.484	NA
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		14.806	13.322	NA
	BALANCE CARRIED TO THE B/S		17.395	14.806	NA
	Earnings Per Share (Rs.)		100.37	57.52	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.56	2.21	NA
Net Profit Margin (PBT/Sales)	(%)	6.04	5.51	NA
Return on Total Assets (PBT/Total Assets}	(%)	6.45	4.11	NA
Return on Investment (ROI) (PBT/Networth)		0.25	0.16	NA
Debt Equity Ratio (Total Liability/Networth)		2.93	2.99	2.34
Current Ratio (Current Asset/Current Liability)		2.15	1.78	1.43

LOCAL AGENCY FURTHER INFORMATION

Contingent Liabilities: Rs.19.150 Millions

FORM 8

Corporate identity number of the company	U74899DL1985PTC022498
Name of the company	MUDRAKSHI HYTECH INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	294, Mandakani Enclave, Alaknanda, New Delhi – 110019, Delhi, India Email Id : rajnishca@vsnl.com
This form is for	Modification of charge
Type of charge	Book debts Movable property Floating charge Others
Particular of charge holder	Canara Bank, Diplomatic Enclave, New Delhi – 110021, Delhi, India Email Id : shahjindia@gmail.com
Nature of instrument creating charge	Hypothecation of goods and book debts and supplemental collateral security agreement
Date of instrument Creating the charge	29.01.2010
Amount secured by the charge	Rs.20.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Rate of Interest @ 17.50% p.a. or as may be specified by the bank from time to time Terms of repayment On demand Margin 15% Extent and operation of the charge 100% Other The above is to secure BG Limit of Rs.20.000 Millions
Short particulars of the property charged (Including location of the property)	First charge on all the stocks and book debts both present and future collateral security of all the plant and machineries as per Schedule –A of the agreement
Particulars of the present modification	Extent of operation of charge over first charge on all the stocks and book debts both present and future. Collateral security of all the plant and machineries as per schedule – A of the agreement, stands enhanced from Rs.14.000 Millions to Rs.20.000 Millions for BG Limit. Other terms and condition remain the same.

FIXED ASSETS

· Air Conditioner

· Building (Office) 1

· Building (Office) 2

· Car (Head Office)

· Carpet

· Television

· Cooler

· Computer Software

· Office Equipment

· Fax Machine

· Currency Counting Machine

· R & D Equipment

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.49.03
UK Pound	1	Rs.76.60
Euro	1	Rs.66.80

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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		46

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.