MIRA INFORM REPORT

Report Date :

12.12.2012

IDENTIFICATION DETAILS

Name :	HOUSE OF LAPTOPS INDIA PRIVATE LIMITED
Registered Office :	Aakar Bhawan, 1038, Shukrawar Peth, Near Haribaug Chowk, Tilak Road, Pune – 411002, Maharashtra
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	22.11.2007
Com. Reg. No.:	11-131014
CIN No.: [Company Identification No.]	U51909pn2007PTC131014
TAN No.: [Tax Deduction & Collection Account No.]	pneh05699B
PAN No.: [Permanent Account No.]	aabch9477N
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, Dealer and Distributor of Computer peripherals.
No. of Employees :	Information denied by the management.

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 :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a company having moderate track. The management has failed to file its financials with the government department since 2009. Our executives are unable to contact the subject. No other details could be made available. The company can be considered for business dealings on a safe and fully 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.

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 de pendency 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

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.

INFORMATION DECLINED

Unable to contact.

LOCATIONS

Registered Office :	Aakar Bhawan, 1038, Shukrawar Peth, Near Haribaug Chowk, Tilak Road, Pune – 411002, Maharashtra, India
Tel. No.:	91-20-66824877 / 24488074
Fax No.:	91-20-24488078
E-Mail :	ashutosh@houseoflaptops.com nalinrc@yahoo.com
Website :	www.houseoflaptops.com
Area :	4000 Sq.fts
Location :	Leased
Corporate Office :	Near Shakari Maharaj Math, Opposite Deccan Honda Showroom, Rajdani Complex, Pune Satara Road, Pune, Maharashtra, India
Tel No. :	91-20-40501272
Branch Office :	Chinchwad 13,14,15, Premier Plaza, Old Bombay - Pune Highway, Chinchwad, Pune 411 019, Maharashtra, India Tel. No. 91-20-27443774/5/6 Email: chwd@houseoflaptops.com   Aundh Shop No.16,17,18, New Paranjape Scheme, Off MacDonalds, Old Bombay Pune Highway, Aundh, Pune - 411007, Maharashtra, India Tel No.: 91-20-41242313 Email:aundh@houseoflaptops.com   Tilak Road 1038, Shukrawar, Peth, Tilak Road, Pune – 411002, Maharashtra, India Tel No.: 91-20-24488074/76/78 Email tlkrd@houseoflaptops.com   Bund Garden 30 and 36, Goldfield Plaza, Opposite Wadia College, India Tel No.:: 91-20-40026557 Email: bgrd@houseoflaptops.com   Kothrud Opposite Gandhi Lawns, Erandawane, Kothrud, Pune-411004, Maharashtra, India Tel No.: 91-20-40071101/40071034 Email: ktrd@houseoflaptops.com   Wanawadi Shop.no.2, Ground Floor, Sacred Heart Town, India Tel No.: 91-20-40055657 Email : wanawadi@houseoflaptops.com
Warehouse 1 :	Near Bharat Gas, Wagholi, Pune, Maharashtra, India
Warehouse 2 :	Tathawade, Pune, Maharashtra, India

DIRECTORS

AS ON 30.09.2009

Name :	Mr. Aashutosh Chandrashekhar Pandit
Designation :	Director
Address :	BL-B11, Fl-101, Bramha Majestic NIBM Road, SN – 15/1/2 Kondhawa Khurd, Pune – 411 048, Maharashtra
Date of Birth/Age :	15.04.1983
Qualification :	graduate
Date of Appointment :	22.11.2007
Din No.:	01783477
Name :	Mr. Nilesh M Doiphode
Designation :	Director
Address :	Aakar Bhawan, 1038, Shukrawar Peth, Pune – 411002, Maharashtra
Date of Birth/Age :	02.09.1978
Qualification :	graduate
Date of Appointment :	22.11.2007
Din No.:	01794640
Name :	Mr. Ashwin Pandit
Designation :	Director
Date of Birth/Age :	30 years
Qualification :	Post graduate
Date of Appointment :	29.02.2008
Din No.:	01804380
Name :	Mr. Doiphode Dheeraj Prabhakar
Designation :	Director
Date of Birth/Age :	31 years
Qualification :	graduate
Date of Appointment :	29.02.2008
Din No.:	01856882

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2009

Names of Shareholders	No. of Shares
Aashutosh Chandrashekhar Pandit	1004000
Nilesh M Doiphode	40540
Ashwin Pandit	40540
Doiphode Dheeraj Prabhakar	40540
TOTAL	1125620

AS ON 30.09.2009

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

BUSINESS DETAILS

Line of Business :

Trader, Dealer and Distributor of Computer peripherals.

GENERAL INFORMATION

No. of Employees :

Information denied by the management.

Bankers :

Axis Bank Limited, S. No. 186, CTS No. 3189, Opposite PCMC Auditorium, Near Tata Motors, Station Road, Chinchwad, Pune-411033, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2009 [Rs. in Millions]	As on 31.03.2008 [Rs. in Millions]
Cash Credit Limits From Axis Bank (Secured against the fixed assets of the company and personal guarantee of the Directors )	214.985	90.109
Cash Credit Limits From UCO Bank		(0.485)
TOTAL	214.985	89.624
Unsecured Loan	As on 31.03.2009 [Rs. in Millions]	As on 31.03.2008 [Rs. in Millions]
Unsecured Loan	0.000	0.200

Banking Relations :	--
Auditors :
Name :	Nalin Chavan and Company Chartered Accountant
Address :	221, Siddharth Towers, S No. 12/3B, Kothrud, Sangam Press Road, Pune 411038, Mahatashtra, India
PAN No:	AACFG4275H

CAPITAL STRUCTURE

AS ON 30.09.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1125620	Equity Shares	Rs.10/- each	Rs.11.256 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		22.777	11.256
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		83.379	73.822
4] (Accumulated Losses)		0.000	0.000
NETWORTH		106.156	85.078
LOAN FUNDS
1] Secured Loans		214.985	89.624
2] Unsecured Loans		0.000	0.200
TOTAL BORROWING		214.985	89.824
DEFERRED TAX LIABILITIES		0.181	0.409
TOTAL		321.322	175.311
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		65.765	58.079
Capital work-in-progress		0.0000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories
	Sundry Debtors
	Cash & Bank Balances	300.964	168.184
	Other Current Assets
	Loans & Advances
Total Current Assets		300.964	168.184
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		45.335
	Others Current Liabilities	45.492
	Provisions		5.727
Total Current Liabilities		45.492	51.062
Net Current Assets		255.472	117.122
MISCELLANEOUS EXPENSES		0.085	0.110
TOTAL		321.322	175.311

NOTE: Attached herewith financials as on 31.03.2008, last time the company management had provided 2009 Balance Sheet and Profit and Loss figures.

In the Government Department, the company has just filed the financials as on March 2008.

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009	31.03.2008
	SALES
		Sales	481.936	383.574
		Other Income	21.342	9.149
		TOTAL (A)	503.278	392.723
Less	EXPENSES
		Cost of Goods Sold	413.134	310.937
		Direct Expenses	2.006	7.497
		Operating and other Expenses	48.388	40.615
		TOTAL (B)	463.528	359.049
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		39.750	33.674
Less	FINANCIAL EXPENSES (D)		21.492	8.710
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		18.258	24.964
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.778	9.738
	PROFIT BEFORE TAX (E-F) (G)		14.480	15.226
Less	TAX (H)		4.924	5.175
	PROFIT AFTER TAX (G-H) (I)		9.556	10.051
	Earnings Per Share (Rs.)		--	--

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008
PAT / Total Income	(%)	1.90	2.56
Net Profit Margin (PBT/Sales)	(%)	3.00	3.97
Return on Total Assets (PBT/Total Assets}	(%)	3.95	6.73
Return on Investment (ROI) (PBT/Networth)		0.14	0.18
Debt Equity Ratio (Total Liability/Networth)		2.45	1.66
Current Ratio (Current Asset/Current Liability)		6.62	3.29

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particulars	31.03.2009 (Rs. in millions)	31.03.2008 (Rs. in millions)
Sundry Creditors	NA	45.335

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	Yes
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	No
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

FIXED ASSETS:

• Goodwill
• Computers
• Car
• Furniture and Fixtures
• Air Conditioners
• Surveillance Systems
• UPS Systems
• Residential Premises
• Office Premises
• Agricultural Land

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.54.32
UK Pound	1	Rs.87.36
Euro	1	Rs.70.36

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--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.