MIRA INFORM REPORT

Report Date :

29.10.2011

IDENTIFICATION DETAILS

Name :	ARGUS TECHNO (INDIA) PRIVATE LIMITED (w.e.f. 21.09.2011)

Formerly Known As :	ARGUS RETAIL PRODUCT PRIVATE LIMITED

Registered Office :	13-A, First Floor, Bhanushali Building, 35 Mint Road, Opposite GPO, Fort, Mumbai – 400 001, Maharashtra

Country :	India

Financials (as on) :	31.03.2010

Date of Incorporation :	11.09.2008

Com. Reg. No.:	11-186659

Capital Investment / Paid-up Capital :	Rs.0.100 million

CIN No.: [Company Identification No.]	U51109MH2008PTC186659

TAN No.: [Tax Deduction & Collection Account No.]	MUMA38716G

PAN No.: [Permanent Account No.]	AAHCA2680A

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer, Exporter, Trader, Supplier and Retailer of Vehicle Segment, Personal Segment, Home Security Segment and Premises Security Systems.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Yet to Commence Business

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Though the company was incorporated in the year 2008, the company is yet to commence its commercial business activities. Payments are unknown. The company can be considered for business dealings on a secured 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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

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

INFORMATION DECLINED BY

Name :	Mr. Thakur
Designation :	Manager
Date :	24.10.2011

LOCATIONS

Registered Office :	13-A, First Floor, Bhanushali Building, 35 Mint Road, Opposite GPO, Fort, Mumbai – 400 001, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	ROC@PNJHAMAR.CO.IN

DIRECTORS

As on 30.09.2010

Name :

Mr. Chetandas Narumal Motwani

Designation :

Chairman

Address :

Flat No. 1, Indus Court, Ground Floor, A Road, Opposite J Churchgate, Mumbai – 400 020, Maharashtra, India

Date of Birth/Age :

20.09.1945

Date of Appointment :

11.09.2008

DIN No.:

00954009

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	U74920MH2002PTC136274	Argus Electronic Security Systems Private Limited	Director	01-04-03	04-01-03	Active	NO
2	U51395MH2004PTC147800	Argus Manpower Services Private Limited	Director	02-08-04	02-08-04	Active	NO
3	U51109MH2008PTC186659	Argus Techno (India) Private Limited	Director	11-09-08	11-09-08	Active	NO
4	U74999MH2010PTC209490	Argus Zener System Integrators Private Limited	Director	27-10-10	27-10-10	Active	NO
5	U67100WB2008PTC129386	Mahakaal Investment Consultants Private Limited	Director	07-01-11	07-01-11	Active	NO
6	U93030MH2011PTC213567	Argus CMS Services Private Limited	Director	15-02-11	15-02-11	Active	NO

Name :

Mr. Amar Chetandas Motwani

Designation :

Managing Director

Address :

Flat No. 1, Indus Court, Ground Floor, A Road, Opposite J Churchgate, Mumbai – 400 020, Maharashtra, India

Date of Birth/Age :

02.05.1972

Date of Appointment :

11.09.2008

DIN No.:

00954032

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	U74920MH2002PTC136274	Argus Electronic Security Systems Private Limited	Managing director	20-06-02	20-06-02	Active	NO
2	U51395MH2004PTC147800	Argus Manpower Services Private Limited	Managing director	02-08-04	02-08-04	Active	NO
3	U51109MH2008PTC186659	Argus Techno (India) Private Limited	Director	11-09-08	11-09-08	Active	NO
4	U74999MH2010PTC209490	Argus Zener System Integrators Private Limited	Director	27-10-10	27-10-10	Active	NO
5	U93030MH2011PTC213567	Argus CMS Services Private Limited	Director	15-02-11	15-02-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders		No. of Shares
Amar Chetandas Motwani		500
Chetandas Narumal Motwani		500
Total		1000

As on 30.09.2010

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

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter, Trader, Supplier and Retailer of Vehicle Segment, Personal Segment, Home Security Segment and Premises Security Systems.

Products :	· Vehicle Segment o Vehicle Tracking Systems o Vehicle Security Systems o Vehicle Tracking and Security Systems o Bike Security Systems · Personal Segment o Personal Tracking Systems · Home Security Segment o Intrusion Detection Systems (IDS) o Shop Security Systems · Premises Security Systems o Argus Branded DVR o Argus Branded Cameras (Dome, IR Dome, Weather Proof, Bullet, etc.) o Argus Branded Video Door Phone o Central Monitoring Systems o Video Monitoring Systems.

Services :	Security Systems

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Unsecured Loans

As on 31.03.2010

Rs. in millions

As on 31.03.2009

Rs. in millions

Loan from Director

0.145

Total

0.145


Banking Relations :	--

Auditors :
Name :	Pankaj N Jhamar Chartered Accountant
Address :	7/E-2, Ground Floor, Kalpita Enclave, Sahar Road, Andheri East, Mumbai – 400 069, Maharashtra, India
PAN No.:	AAEPJ5398L

CAPITAL STRUCTURE

After 30.09.2010

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
1000	Equity Shares	Rs.100/- each	Rs.0.100 million

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs.100/- each	Rs.0.100 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		(0.064)	(0.035)
NETWORTH		0.036	0.065
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.145	0.145
TOTAL BORROWING		0.145	0.145
DEFERRED TAX LIABILITIES		0.000	0.000

TOTAL		0.181	0.210

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		0.000	0.000
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	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.100	0.100
	Other Current Assets	0.000	0.000
	Loans & Advances	0.000	0.000
Total Current Assets		0.100	0.100
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.013	0.007
	Other Current Liabilities	0.000	0.000
	Provisions	0.000	0.000
Total Current Liabilities		0.013	0.007
Net Current Assets		0.087	0.093

MISCELLANEOUS EXPENSES		0.094	0.117

TOTAL		0.181	0.210

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Sales	0.000	0.000
		Other Income	0.000	0.000
		TOTAL	0.000	0.000

Less	EXPENSES
		Audit Fees	0.006	0.006
		Preliminary Expenses	0.023	0.029
		TOTAL	0.029	0.035

	PROFIT/LOSS BEFORE TAX		(0.029)	(0.035)

Less	TAX		0.000	0.000

	PROFIT/LOSS AFTER TAX		(0.029)	(0.035)

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.035)	0.000

	BALANCE CARRIED TO THE B/S		(0.064)	(0.035)

	Earnings Per Share (Rs.)		(29.00)	(35.00)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	(29.00)	(35.00)

Return on Investment (ROI) (PBT/Networth)		(0.81)	(0.54)

Debt Equity Ratio (Total Liability/Networth)		4.39	2.34

Current Ratio (Current Asset/Current Liability)		7.69	14.29

LOCAL AGENCY FURTHER INFORMATION

NOTE

The Registered Office of the company has been shifted from 143/145, Khaitan Chambers, Ground Floor, Modi Street, Fort, Mumbai – 400 001, Maharashtra, India to the present address w.e.f. 29.11.2010.

PERFORMANCE AND PROSPECT

During this year of the Company, the Products in which the Company is going to deal having good demand in the Market.

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 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.48.82
UK Pound	1	Rs.78.57
Euro	1	Rs.69.29

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	--
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	1
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		11

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.

MIRA INFORM REPORT

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