MIRA INFORM REPORT

Report Date :

03.12.2012

IDENTIFICATION DETAILS

Name :	ALBION INFOTEL LIMITED (w.e.f. 1.09.2012)
Formerly Known As :	ALBION INFOTEL PRIVATE LIMITED (w.e.f. 13.04.2011) ALBION INFORMATICS PRIVATE LIMITED
Registered Office :	T-95A, C.L. House, 2^nd Floor, Gulmohar Enclave Commercial Complex, New Delhi - 110049
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	11.04.2000
Com. Reg. No.:	55-105183
Capital Investment / Paid-up Capital :	Rs. 14.932 Millions
CIN No.: [Company Identification No.]	U72900DL2000PTC105183
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Computer Stationery
No. of Employees :	Not Available

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 240000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The latest financial is missing from government department. However, from the previous year record there seem to be having good track record. Trade relations are reported to be fair. Business is active. Payment are reported to be usually correct and as per commitment. The company can be considered for business dealing at usual trade terms and condition. Note: Profit and Loss account for the current year is not available.

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, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	SE1A
Rating Explanation	The financial strength appear to be high and performance capability is highest
Date	August 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	T-95A, C.L. House, 2nd Floor, Gulmohar Enclave Commercial Complex, New Delhi – 110049, India
Tel. No.:	91-11-66196150 / 26549400
Fax No.:	91-11-66196154 /
E-Mail :	info@albionglobal.com dgm_corp@albion2000.com pankajca91@gmail.com
Website :	http://www.albionglobal.com
Overseas Office :	5448, Apex Peakway, #307 Apex, NC 27502-3924, USA
Tel. No.:	1.919.827.0090
Fax No.:	1.919.882.8400

DIRECTORS

As on 30.09.2011

Name :

Mr. Sanjeev Gupta

Designation :

Director

Address :

P-10, IInd Floor, Malviya Nagar, New Delhi, India

Date of Birth/Age :

07.04.1971

Date of Appointment :

01.11.2000

DIN No.:

00149814

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U72900DL2000PLC105183	ALBION INFOTEL LIMITED	Director	11-04-00	11-04-00	-	Active	NO
2	U74140DL2011PTC218699	ALBION RESEARCH AND LABS PRIVATE LIMITED	Director	05-05-11	05-05-11	-	Active	NO
3	U72900DL2011PTC224947	ALBION GLOBAL SERVICES PRIVATE LIMITED	Director	12-09-11	12-09-11	-	Active	NO

Name :

Mrs. Rekha Gupta

Designation :

Director

Address :

P-10, IInd Floor, Malviya Nagar, New Delhi, India

Date of Birth/Age :

24.02.1968

Date of Appointment :

01.11.2000

DIN No.:

00164223

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U72900DL2000PLC105183	ALBION INFOTEL LIMITED	Director	11-04-00	11-04-00	-	Active	NO
2	U74140DL2011PTC218699	ALBION RESEARCH AND LABS PRIVATE LIMITED	Director	05-05-11	05-05-11	-	Active	NO
3	U72900DL2011PTC224947	ALBION GLOBAL SERVICES PRIVATE LIMITED	Director	12-09-11	12-09-11	-	Active	NO

Name :

Mr. Hari Om Gupta

Designation :

Director

Address :

175, Chobdara, Etah – 207001, Uttar Pradesh India

Date of Birth/Age :

01.06.1945

Date of Appointment :

20.07.2012

DIN No.:

03328571

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Sanjeev Gupta	848953
Rekha Gupta	641947
Shashi Ranjan Gupla	200
Dr. Ravinder Kr. Chadha	500
D. Vasudevan	500
Rakesh Chopra	100
Akshay Vohra	100
Tapan Prakash	100
Minesh Kunal	100
Pranay Vasislha	100
Garima Jain	100
Gopal K. Kaul	500
Randhir IT Solutions Private Limited, India	31000
Bell Indus Fibrecom Private Limited, India	32000
Saggi Traexim Private Limited, India	36334
Anuj Buildcon Private Limited, India	34000
Total	1626534

As on 30.09.2011

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
Bodies corporate	8.20
Directors or relatives of Directors	91.66
Other top fifty shareholders	0.14
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Computer Stationery

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of Travancore, Parliament Stret, New Delhi - 110001, Delhi, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Term Loan*	15.987	0.000
Vehicle Loan**	0.000	0.146
Working Capital Loans
Rupee Loan***	45.186	28.821
Total	61.173	28.967
* Secured against Hypothecation of Fixed Assets and personal guarantee of Directors. ** Secured against Hypothecation of Vehicle *** Hypothecation of Stock and Book debts. Equitable mortgage of Flat No. P-10 2nd Floor Malviya Nagar. New Delhi-17 and T-95A. CL House 2^nd Floor. Gautam Nagar. New Delhi-49
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Others	1.337	3.368
Total	1.337	3.368

Banking Relations :	--
Auditors :
Name :	Pankaj Abhishek and Associates Chartered Accountants
Address :	6A/1, Office No. 204, Ganga Chembers W.E.A. Sat Nagar Karol Bagh, New Delhi – 110005, India
Tel. No.:	91-11-25755527
Mobile No.:	91-9811125527
E-Mail :	pankajca91@gmail.com
Website :	www.pankajca.com
PAN.:	AAFPJ6125L

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs.35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1626534	Equity Shares	Rs.10/- each	Rs.16.265 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.10/- each	Rs.15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1493200	Equity Shares	Rs.10/- each	Rs.14.932 Millions

(Previous Year: 4.90.900 Equity share @ Rs. 10/- each fully paid up out of which 50.000 shares had been issued at a premium of Rs. 50/- per share)

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		14.932	4.909	4.909
2] Share Application Money		20.000	0.000	0.000
3] Reserves & Surplus		26.250	14.484	10.006
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		61.182	19.393	14.915
LOAN FUNDS
1] Secured Loans		61.173	28.967	17.961
2] Unsecured Loans		1.337	3.368	3.524
TOTAL BORROWING		62.510	32.335	21.485
DEFERRED TAX LIABILITIES		5.771	2.161	1.306
TOTAL		129.463	53.889	37.706
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		54.708	13.436	9.110
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.144	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	14.737	6.471	6.230
	Sundry Debtors	86.897	50.657	30.289
	Cash & Bank Balances	10.974	2.742	1.466
	Other Current Assets	0.080	0.009	0.000
	Loans & Advances	3.102	2.951	3.267
Total Current Assets		115.790	62.830	41.252
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	9.799	18.760	11.504
	Other Current Liabilities	25.466	2.542	0.362
	Provisions	5.914	1.075	0.792
Total Current Liabilities		41.179	22.377	12.658
Net Current Assets		74.611	40.453	28.594
MISCELLANEOUS EXPENSES		0.000	0.000	0.002
TOTAL		129.463	53.889	37.706

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Receipts	181.312	118.719
		Other Income	0.000	0.000
		TOTAL (A)	181.312	118.719
Less	EXPENSES
		Purchase	163.672	110.717
		Increase / (Decrease) in stocks	(0.240)	(4.022)
		Personnel Expenses	4.539	3.330
		Administrative, Selling and Other Expenses	1.688	1.308
		TOTAL (B)	169.659	111.333
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		11.653	7.386
Less	FINANCIAL EXPENSES (D)		3.414	2.339
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		8.239	5.047
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.759	1.074
	PROFIT BEFORE TAX (E-F) (G)		6.480	3.973
Less	TAX (H)		2.003	1.375
	PROFIT AFTER TAX (G-H) (I)		4.477	2.598
	Earlier Year Tax Adjustment		0.000	0.022
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		7.506	4.886
	BALANCE CARRIED TO THE B/S		11.983	7.506
	Earnings Per Share (Rs.)		9.12	5.34

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	2.47	2.19
Net Profit Margin (PBT/Sales)	(%)	NA	3.57	3.45
Return on Total Assets (PBT/Total Assets}	(%)	NA	8.50	7.89
Return on Investment (ROI) (PBT/Networth)		NA	0.33	0.27
Debt Equity Ratio (Total Liability/Networth)		1.69	2.82	2.29
Current Ratio (Current Asset/Current Liability)		2.81	2.81	3.26

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
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	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

Note:

The registered office of the company has been shifted from C-61,IInd Floor, Dda Shed, Okhla Industrial Area, Phase-I New Delhi – 110020, India to present address w.e.f.10.09.2008

CONTINGENT LIABILITIES (As on 31.03.2011)

· Guarantees issued by the bank on behalf of the Company Rs.16.319 Millions

Bankers Charges Report as per Registry

Corporate identity number of the company	U72900DL2000PTC105183
Name of the company	ALBION INFOTEL PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	T-95A, C.L. House, 2^nd Floor, Gulmohar Enclave Commercial Complex, New Delhi – 110049, India pankajca91@gmail.com
This form is for	Creation of charge
Type of charge	· Immovable property · Book debts · Movable property (not being pledge)
Particular of charge holder	State Bank of Travancore, Parliament Stret, New Delhi - 110001, Delhi, India parliament@sbt.co.in
Nature of instrument creating charge	Hypothecation agreements dated 31.05.2012 Memorandum of E Deposit of Title Deeds
Date of instrument Creating the charge	31.05.2012
Amount secured by the charge	Rs.150.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 13.5 % P.A on Cash Credit ( Three % age above Base Rate ) Terms of Repayment One year from the date of sanction Margin 1) 25 % on Stock 2) 40% on book debts 3) 20% in case of Bank guarantee Extent and Operation of the charge First and Exclusive Charge
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Commercial Property at T-95 A C.L House , Gulmohar Enclave Comml Complex Gautam Nagar New Delhi-110049 Fixed Assets present and Future.except Purchased from Unitel credit. Current assets including Stock and Book Debts at T-95 A CL House , Gulmohar Enclave Commercial complex Gautam Nagar New Delhi-110049 Residential Property at P-10 Second Floor Malviya Nagar New Delhi

FIXED ASSETS

· Land Building

· Computer and Peripherals

· Electrical Item and Fittings

· Furniture and Fixture

· Office Equipment

· Vehicle

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 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.54.53
UK Pound	1	Rs.87.48
Euro	1	Rs.70.89

INFORMATION DETAILS

Report Prepared by :

NTH

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	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		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.