MIRA INFORM REPORT

Report Date :

07.04.2012

IDENTIFICATION DETAILS

Name :	PV MEDIA VISION PRIVATE LIMITED
Registered Office :	Unit No.55, Ground Floor, A1 Shah and Nahar Industrial Estate, Sitaram Jadhav Marg, Sunmill Compound, Lower Parel, Mumbai – 400013, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.05.2008
Com. Reg. No.:	181925
Capital Investment / Paid-up Capital :	Rs.30.000 Millions
CIN No.: [Company Identification No.]	U22300MH2008PTC181925
TAN No.: [Tax Deduction & Collection Account No.]	MUMP26743D
PAN No.: [Permanent Account No.]	AAECP6508R
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of Digital Media
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	The company has been shifted from the given address to the current address 8 months back. 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. Ankoor M Patel
Designation :	Director
Contact No.:	91-9930138344
Date :	06.04.2012

LOCATIONS

Registered Office :	Unit No.55, Ground Floor, A1 Shah and Nahar Industrial Estate, Sitaram Jadhav Marg, Sunmill Compound, Lower Parel, Mumbai – 400013, Maharashtra, India
Tel. No.:	91-22-24919333/0444
Fax No.:	91-22-24933450
E-Mail :	pvmediavision@gmail.com
Warehouse :	Located at: Bhiwandi, Maharashtra, India
Branches:	Located at: Pune, Maharashtra, India

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Vasant Bhairu Khopade
Designation :	Director
Address :	606, Manek Court, 6^th Floor, Siddhivinayak Annexe, Lover Parel, Mumbai – 400013, Maharashtra, India
Date of Birth/Age :	01.06.1966
Qualification :	M.com
Date of Appointment :	01.04.2009

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	U92112MH2002PLC137690	MAX FLEX & IMAGING SYSTEMS LIMITED	Director	25/10/2002	25/10/2002	01/10/2008	Active	NO
2	U74300MH2004PTC144504	STERLING MEDIA PRIVATE LIMITED	Director	12/02/2004	12/02/2004	-	Amalgamated	NO
3	U74940MH2005PTC154788	MAX CONVERTORS PRIVATE LIMITED	Director	14/07/2005	14/07/2005	-	Amalgamated	NO
4	U99999MH1990PTC055272	MAX SIGNAGE INDUSTRIES PRIVATE LIMITED	Additional director	12/12/2007	12/12/2007	24/09/2008	Active	NO
5	U22300MH2008PTC181925	PV MEDIA VISION PRIVATE LIMITED	Managing director	01/04/2009	01/04/2009	-	Active	NO

Name :	Mrs. Kalpana Vasant Khopade
Designation :	Director
Address :	606, Manek Court, 6^th Floor, Siddhivinayak Annexe, Lover Parel, Mumbai – 400013, Maharashtra, India
Date of Birth/Age :	13.09.1969
Qualification :	B.com
Date of Appointment :	06.05.2008

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	U22300MH2008PTC181925	PV MEDIA VISION PRIVATE LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO

Name :	Mr. Ankoor M Patel
Designation :	Director
Address :	B-8, 9, Bhanu Apartment, L B S Marg, Mulund (West), Mumbai – 400080, Maharashtra, India
Date of Birth/Age :	30.08.1990
Qualification :	MBA
Date of Appointment :	06.05.2008

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	U22300MH2008PTC181925	PV MEDIA VISION PRIVATE LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Vasant Bhairu Khopade	1285300
Kalpana Vasant Khopade	165700
Ankoor M Patel	649000
Total	2100000

AS ON 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Importer of Digital Media
Imports :
Products :	Digital Media
Countries :	China
Terms :
Selling :	Advance
Purchasing :	Advance

GENERAL INFORMATION

Customers :

Printers

No. of Employees :

50 (Approximately)

Bankers :

The Cosmos Co-op Bank Limited, Fort Branch, Ground floor, 229/231, Parine Nariman Street,, Mumbai - 400001, Maharashtra, India

Facilities :

Cash Credit – Rs.25.000 Millions

SECURED LOAN	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Bank Overdraft from IDBI (L.Y. - Cosmos Bank)	NA	48.192
IDBI Bank Term Loan	NA	15.252
Tata Motor Finance Ltd A/c.1029	NA	0.231
Tata Motor Finance Ltd A/c.1031	NA	0.232
TOTAL	NA	63.907
UNSECURED LOAN	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Banks at Financial Institutions:
Bajaj Auto Finance Limited	NA	1.498
Cholamandalam DBS	NA	0.287
Kotak Mahindra Bank Loan	NA	0.976
From Directors at Others:
Ankoor M. Patel	NA	0.215
Kalpana V. Khopade	NA	4.500
Sandeep Khopade	NA	0.138
Santcah Khopade	NA	0.552
Vasant Khopade	NA	3.056
Prashant Khopade	NA	0.055
Prathmesh Graphics at Digital	NA	10.000
Eskay-Bee Internatinal Pvt. Ltd	NA	20.000
HDB Financial Services	NA	0.469
TOTAL	NA	41.747

Banking Relations :	--
Auditors :
Name :	Chirag Varaiya and Company Chartered Accountant
Address :	9 , Jatta Shankar Dossa shopping centre, (Shanti Bhuvan)1st Floor, J.D road , Mulund west, Mumbai – 400080, Maharashtra, India
Associates/Subsidiaries :	Prathmesh Graphics

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs.40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2100000	Equity Shares	Rs.10/- each	Rs.21.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		21.000	13.000	5.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		12.237	4.641	0.074
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		33.237	17.641	5.074
LOAN FUNDS
1] Secured Loans		114.698	63.907	23.758
2] Unsecured Loans		13.390	41.747	7.436
TOTAL BORROWING		128.088	105.654	31.194
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		161.325	123.295	36.268
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		24.697	175.875	1.367
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		3.427	0.450	1.440
DEFERREX TAX ASSETS		0.530	0.028	0.080
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	34.829	39.922	22.170
	Sundry Debtors	158.333	110.880	24.280
	Cash & Bank Balances	5.820	11.033	0.206
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	5.372	5.479	0.748
Total Current Assets		204.354	167.314	47.404
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	53.886	50.240	13.576
	Other Current Liabilities	0.000	5.500	0.000
	Provisions	17.909	6.781	0.646
Total Current Liabilities		71.795	62.521	14.222
Net Current Assets		132.559	104.793	33.182
MISCELLANEOUS EXPENSES		0.112	0.149	0.199
TOTAL		161.325	123.295	36.268

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		TOTAL	453.331	316.588	41.841
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		10.639	6.528	0.134
Less	TAX		3.044	1.961	0.060
	PROFIT AFTER TAX		7.595	4.567	0.074
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		4.641	0.074	0.000
	BALANCE CARRIED TO THE B/S		12.237	4.641	0.074
	Earnings Per Share (Rs.)		3.62	--	--

Expected Sales (2011-2012) : Rs.1250.000 Millions

The above information has been parted by Mr. Ankoor Patel (Director)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.68	1.44	0.18
Net Profit Margin (PBT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.64	1.90	0.27
Return on Investment (ROI) (PBT/Networth)		0.32	0.37	0.03
Debt Equity Ratio (Total Liability/Networth)		6.01	9.53	8.95
Current Ratio (Current Asset/Current Liability)		2.85	2.68	3.33

LOCAL AGENCY FURTHER INFORMATION

OBSERVATION POINTS: (SITE VISIT)

Name:	PV Vision Media Private Limited
Address:	God's Gift D WingCHPS Ltd, Shop No 12 Ground Floor, N M Joshi Marg, Lower Parel(W), Mumbai 400013, India
Location:	Easy
Landmark (If any):	Machhi Market
Locality:	Residential
Approx. Market Value of Premises:	100sq.fts
Area:	Up Market
Close from 8 Months

Name:	PV Vision Media Private Limited
Address:	Unit No.55, Ground Floor, A1 Shah and Nahar Industrial Estate, Sitaram Jadhav Marg, Sunmill Compound, Lower Parel, Mumbai – 400013, Maharashtra
Tel No.:	91-22-24910333
Visibility of Name Board:	Low
Location:	Difficult
Landmark (If any):	Sun Mill Compound
Locality:	Factory
Approx. Market Value of Premises:	1500sq.fts
Area:	Down Market
Visibility of Items:	Tel, Computers, AC
No. of Employees Seen at Business Premises:	10

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	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter's background	Yes
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	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	Yes
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

FORM 8:

Corporate identity number of the company	U22300MH2008PTC181925
Name of the company	PV MEDIA VISION PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Unit No55 Gr Flr A1 Shah and Nahar Industria Estate, Sitaram Jadhav Marg, Sunmill Compound, Lower Parel, Mumbai -400013, Maharashtra, India
This form is for	Creation of charge Modification of charge
Type of charge	Book Debts Immovable Property Movable Property Floating Charge
Particular of charge holder	The Cosmos Co-op Bank Limited
Nature of instrument creating charge	Composite Deed of Mortgage and Hypothecation for Creation of Additional Charge
Date of instrument Creating the charge	20/01/2012
Amount secured by the charge	Rs.185.700 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash credit, Bill Discounting: 15.5%p.a. or at such rate as maybe determined by the bank from time to time Cheque purchase: 18%p.a. or at such rate as maybe determined by the bank from time to time Terms of Repayment Cash credit, Bill Discounting, cheque purchase, Letter of Credit: repayable on demand/ review within 12 months Margin Cash credit, Bill discounting: 25% in bank's favour Letter of credit: 15% in bank's favour Extent and Operation of the charge Cash credit: Rs 130.000 Millions ( additional Rs 50.000 Millions) Bill discounting: Rs 20.000 Millions (existing) Cheque purchase: Rs 0.500 Million ( existing) Letter of credit: Rs 20.000 Millions ( existing) Term loan: Rs 15.200 Millions (existing) Others Due to size constraint page no 1- 16 of the agmt is filed with this form, balance agreement is filed vide form no 62 The company has also availed term loan of Rs 12.675 Millions and Rs 2.200 Millions
Short particulars of the property charged	All that piece and parcel of RCC godown bearing no 11 and12 situated in the building G alongwith equal area of land beneath the godown situated on land bearing sno 71situate at village Dapode Tal Bhiwandi dist Thane within the limits of Dapode Gram panchayat sub reg district and Tal Bhiwandi and Reg district and sub district of Thane more particularly described in schedule I attached herewith All that piece and parcel of Gala no A1/55 situated on the gr fl of the building of Shah and Nahar Ind Premises standing on piece of land bearing C S no 159 of Lower Parel (W) Mumbai situated within reg district and sub district of Mumbai City and MSD and within limit of Greater Mumbai Municipal Corporation together with proportionate right in the land under the structure and right to enjoy common areas and facilities appurtenant to said premises and with right of ways , easements and parking more particularly described in schedule III attached herewith. All that piece and parcel of flat no D 606 situated on 6th fl of the building of Siddhivinayak Annexure Co-op Hsg Soc Ltd standing on piece of land bearing sno 210 of Lower Parel Division situated at Sun Mill Road ,Lower Parel Mumbai situated within Reg district and sub district of Mumbai City and MSD and within limits of Greater Mumbai Municipal Corporation together with proportionate right in the land under the structure and rights to enjoy common areas and facilities appurtenant to said premises and with the right of ways more particularly described in schedule IV.All that piece and parcel of unit no 19 gr fl of building no A1 of Shah and Nahar Ind Premises Dhanraj Mill compound Lower Parel Mumbai situate within reg district and sub district of Mumbai City and MSD and within limit of Greater Mumbai Municipal Corporation together with proportionate rights in land under the structure and right to enjoy common areas more particularly described in schedule V Hypothecation of all the current assets more particularly described in schedule VI attached herewith
Particulars of the present modification	Cash credit limit enhanced from Rs 80.000 Millions to Rs 130.000 Millions (additional Rs 50.000 Millions)Overall limit secured is enhanced to Rs.185.700 Millions (Cash credit: Rs 130.000 Millions, Bill discounting: Rs 20.000 Millions, Cheque purchase: Rs 0.500 Million, Letter of credit: Rs 20.000 Millions, Term loan: Rs 15.200 Millions)

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.51.04
UK Pound	1	Rs.81.08
Euro	1	Rs.67.39

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	4
--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		43

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.