MIRA INFORM REPORT

Report Date :

08.09.2011

IDENTIFICATION DETAILS

Name :	INFOSOLS ECONSULTANTS INDIA PRIVATE LIMITED
Registered Office :	C/206, Prakash Nagar, Moguallane, Mahim, Mumbai – 400016, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	16.01.2006
Com. Reg. No.:	11-159183
Capital Investment / Paid-up Capital :	Rs.0.100 Millions
CIN No.: [Company Identification No.]	U72900MH2006PTC159183
TAN No.: [Tax Deduction & Collection Account No.]	MUMI07736B
PAN No.: [Permanent Account No.]	AABCI5096E
Legal Form :	Private Limited Liability Company
Line of Business :	IT and Telecom Service Provider
No. of Employees :	Not Divulged by Management

RATING & COMMENTS

MIRA’s Rating :

Ba [45]

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

Maximum Credit Limit :	USD 10000
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. 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.

INFORMATION PARTED BY [Partial Details]

Name :	Ms. Pratibha
Designation :	Account Department
Contact No.:	91-22-24446868
Date :	07.09.2011
Name :	Mr. Ravinder Pal Singh
Designation :	Director
Contact No.:	91-9867044660
Date :	07.09.2011

LOCATIONS

Registered Office :	C/206, Prakash Nagar, Moguallane, Mahim, Mumbai – 400016, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9867044660 [Mr. Ravinder Pal Singh ]
Fax No.:	Not Available
E-Mail :	Sashismit1966@gmail.com info@infosols.co.in
Website :	http://www.infosols.co.in
Mumbai Office :	11-13a, Nanabhai Manzil, Behind Sitldevi Temple, L. J Road, Mahim, Mumbai – 40016, India
Tel. No.:	91-22-24446868
Fax No.:	91-22-24449292
Delhi Branch Office :	702, Kirti Shikar Building, 11 District Centre, Janakpuri, New Delhi – 110058, India
Tel. No.:	91-11-25507194
Fax No.:	91-11-28855227

DIRECTORS

As on 29.09.2010

Name :	Mr. Ravinder Pal Singh Khalsa
Designation :	Director
Address :	C/206, Prakash Nagar, Moguallane, Mahim, Mumbai – 400016, Maharashtra, India
Date of Birth/Age :	14.09.1971
Qualification :	Telecom Engineering
Din :	01576835
Date of Appointment :	23.01.2006
Name :	Mr. Narinder Singh
Designation :	Director
Address :	10- Cpocket A Vikaspuri Extention, New Delhi – 110018, Delhi, India
Date of Birth/Age :	21.05.1968
Qualification :	Computer Engineering
Din :	01053835
Date of Appointment :	23.01.2006

KEY EXECUTIVES

Name :	Ms. Pratibha
Designation :	Account Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2010

Names of Shareholders	No. of Shares
Ravinder Pal Singh Khalsa	500
Narinder Singh	500
Total	1000

As on 29.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

IT and Telecom Service Provider

Products :

Servers EPABX/KTS systems Laptops Voicemail systems Desktops Video conferencing systems Routers Audio conferencing systems LAN Switches Telephone Voice Recorders Multi-Function Devices Telephone Instruments Printers and Peripherals Telecom Headsets Wireless Devices Fax Machines Call Billing Solutions Services : IT and Telecomm Consultancy Services Facility Management services Structured Cabling IT Infrastructure Management Services. Project Management Annual Maintenance Contracts

GENERAL INFORMATION

No. of Employees :	Not Divulged by Management
Bankers :	Not Available
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Mr. Uday Aval Chartered Accountant
Address :	53/3, Shakti Bhavan, Sion West, Mumbai – 400022, Maharahstra, India
PAN :	AAAPA8408Q

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000	Equity Shares	Rs.100/-each	Rs.0.500 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,000	Equity Shares	Rs.10/-each	Rs.0.100 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.463	1.357	0.737
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.563	1.457	0.837
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		2.563	1.457	0.837
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.060	0.431	0.113
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.612	1.046	0.303
	Sundry Debtors	6.105	4.325	3.878
	Cash & Bank Balances	2.197	3.458	1.455
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.141	0.000	0.000
Total Current Assets		9.055	8.829	5.636
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.174	5.574	-
	Other Current Liabilities	0.395	2.248	4.933
	Provisions	0.000	0.000	0.000
Total Current Liabilities		7.569	7.822	4.933
Net Current Assets		1.486	1.007	0.703
MISCELLANEOUS EXPENSES		0.017	0.019	0.021
TOTAL		2.563	1.457	0.837

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	48.515	33.212	26.868
		Other Income	0.014	0.003	NA
		TOTAL (A)	48.529	33.215	NA
Less	EXPENSES
		Cost Of Materials	40.146	26.406
		Advertisement And Subscription	0.074	0.340
		Auditors Fees	0.012	0.012
		Bank Charges	0.026	0.012
		Electricity Charges	0.029	0.022
		Insurance Charges	0.004	0.005
		Misc. Office Expenses	0.234	0.163
		Postage And Tele / Courier Charges	0.038	0.007
		Printing And Stationery / Xerox And Stat.	0.529	0.108
		Professional Tax Company	0.002	0.003
		Professional Tax Interest	0.002	0.002
		Professional Charges	0.036	0.144
		ROC Filing Charges	0.001	0.001
		Telephone Charges	0.201	0.169
		Salaries	3.274	3.009
		Directors Remuneration	0.790	0.600
		Rent	0.120	0.120
		Vat And CST Paid	0.272	0.109
		Service Tax Paid	0.360	0.305
		Repairs And Maintenance Charges	0.240	0.289
		Commission Bad Debts	0.038	0.001
		Staff Welfare	0.245	0.089
		Conveyance And Traveling Charges	0.344	0.251
		Preliminary Expenses Written Off	0.002	0.002
		TOTAL (B)	47.019	32.169	NA
	PROFIT/LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.510	1.046	0.868
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.248	0.179	0.044
	Net Profit		1.262	0.867	0.824

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.60	2.61	NA
Net Profit Margin (PBT/Sales)	(%)	2.60	2.61	3.07
Return on Total Assets (PBT/Total Assets}	(%)	12.48	9.36	14.33
Return on Investment (ROI) (PBT/Networth)		0.49	0.59	0.98
Debt Equity Ratio (Total Liability/Networth)		2.95	5.37	5.89
Current Ratio (Current Asset/Current Liability)		1.20	1.13	1.14

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:	7.174	5.574	NA

Overall Performance and Future Objectives :

The year 2009-10, the company has recorded the sales of Rs.48.515 millions. The company has targeted the sales of Rs.55.000 millions for the financial year ended 31.03.2011.

FIXED ASSETS :

· Computer

· Car

· Air Conditioner

· Inverter

· EPABX Systems

· Telephones

· Inverter

· Mobile Phones

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.46.02
UK Pound	1	Rs.73.60
Euro	1	Rs.64.77

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	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		45

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.