MIRA INFORM REPORT

Report Date :

09.02.2012

IDENTIFICATION DETAILS

Name :	CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED
Registered Office :	20, Babu Building, 375/377, Lamington Road, Mumbai – 400007, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.09.2004
Com. Reg. No.:	11-148754
Capital Investment / Paid-up Capital :	Rs.5.000 Millions
CIN No.: [Company Identification No.]	U52392MH2004PTC148754
TAN No.: [Tax Deduction & Collection Account No.]	MUMC13031E
PAN No.: [Permanent Account No.]	AACCC5396G
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer and Distributor of Computer Peripherals and Accessories.
No. of Employees :	108 (Approximately)

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 170000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually made 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.

INFORMATION PARTED BY

Name :	Mr. A.P. Purohit
Designation :	Chief Financial Officer
Contact No.:	91-9987560725
Date :	07.02.2012

LOCATIONS

Registered Office :	20, Babu Building, 375/377, Lamington Road, Mumbai – 400007, Maharashtra, India
Tel. No.:	91-22-23822222
Mobile No.:	91-9987560725 (Mr. A.P. Purohit)
Fax No.:	91-22-23804045/ 28903558 Ext 113
E-Mail :	purohit@ecreativeindia.com ketan@ecreativeindia.com sales@ecreativeindia.com mitesh@ecreativeindia.com
Website :	www.ecreativeindia.com
Area :	1000 Sq. ft
Location :	Leased
Corporate Office :	B-104/111, 2^nd Floor, Mandpeshwar Industrial Estate, Off. S.V.P. Road, Opposite M.C.F. Club, Borivali (West), Mumbai - 400 092, Maharashtra, India
Tel No. :	91-22-28905551
Fax No.:	91-22-28903558 Ext 113
Email :	corporate@ecreativeindia.com
Warehouse :	Shop # 6, Stand View Building, Lokmanya Nagar, Behind S.T. Depo, Panvel:- 410 206, Maharashtra, India
Tel. No.:	91-22-27450349
Area :	1000 sq. ft.
Location :	Leased
Branch Office :	Located at: Pune Mumbai Bangalore Gurgaon Hyderabad Gujarat
Service Centre :	Located at: Bangalore Mumbai Delhi Kolkata Pune Hyderabad Chennai Ahmedabad Chennai Cochin Jaipur Secunderabad Surat Ludhiana

DIRECTORS

As on 30.09.2011

Name :

Mr. Ketan Chhaganlal Patel

Designation :

Director

Address :

A/ 7, Nimesh Kunk CHS Limited, S.V.P. Road, Borivali (West), Mumbai – 400 092, Maharashtra, India

Date of Birth/Age :

01.08.1970

Qualification :

Diploma in Computer Engineering

Date of Appointment :

22.09.2004

DIN No.:

00127633

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	U30009GJ1996PTC030175	Cosdec Informatics Private Limited	Director	04-04-01	04-04-01	Active	NO
2	U52392MH2004PTC148754	Creative Peripherals and Distribution Private Limited	Director	22-09-04	22-09-04	Active	NO
3	U30000MH1997NPL106291	Trade Association of Information Technology	Director	28-09-07	28-09-07	Active	NO
4	U30007KA2007PTC042970	Chip Tech IT Private Limited	Director	17-03-08	17-03-08	Active	YES

Name :

Mr. Vijay Kimatrai Advani

Designation :

Director

Address :

Savera – 1, Flat No.203, Picnic Cottage, J.P. Road, Andheri (West), Mumbai – 400 061, Maharashtra, India

Date of Birth/Age :

24.01.1966

Qualification :

B. Com.

Date of Appointment :

30.01.2006

DIN No.:

02009626

KEY EXECUTIVES

Name :	Mr. A.P. Purohit
Designation :	Chief Financial Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Ketan Patel	484900
Purvi Patel	14800
Mehul Kagalwala	100
Vijay Advani	100
Sunil Udhani	100
Total	500000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Dealer and Distributor of Computer Peripherals and Accessories.
Agencies Held :	· Belkin India · AOC
Imports :
Products :	Raw Material
Countries :	· China · Taiwan · Dubai
Terms :
Selling :	Cash/ Credit (30, 60 and 90 days)
Purchasing :	Cash/ Credit (30, 60 and 90 days)

GENERAL INFORMATION

Suppliers :

· Belkin India

· AOC

· Microsoft Hardware

Customers :

End Users

· Sanghavi Computers

· Komal System Private Limited

· Vijay Sales

· Reliance

No. of Employees :

108 (Approximately)

Bankers :

· New India Co-operative Bank Limited, Kartar Mansion, 35, Tribhuvan Road, Girgaum, Mumbai – 400004, Maharashtra, India

· Standard Chartered Bank, SME Credit, 23-25, M G Road, Fort, Mumbai – 400 001, Maharashtra, India

· Bank of India, Mumbai MID Corporate Branch, 70/80, M. G. Road, Bank of India Building, Mezzanine Floor, Fort, Mumbai – 400 001, Maharashtra, India

· ICICI Bank Limited

· The North Kanara GSB Co-Operative Bank Limited

· HDFC Bank Limited

Facilities :

Fund Base – Rs.70.000 Millions

NFB – Rs.70.000 Millions

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working Capital Loans banks	59.444	57.525
Loan taken for vehicles secured	1.195	0.516
Other debt secured	0.317	0.316
Total	60.956	58.357
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loans directors unsecured	22.943	26.573
Other debts	13.500	0.000
Total	36.443	26.573

Banking Relations :	--
Auditors :
Name :	S. K. Thanawala and Company Chartered Accountants
Address :	140/ 142, Princess Street, Govind Building, 2^nd Floor, Mumbai – 400 002, Maharashtra, India
PAN.:	AAAPJ5959K
Associates/Subsidiaries :	K.P. Enterprises Address: 20, Babu Building, 375/ 377, Lamington Road, Mumbai – 400 007, Maharashtra, India Line of Business: Dealer and Importer of Computer Peripherals and Accessories.

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 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		5.000	5.000	5.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		38.679	30.170	20.576
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		43.679	35.170	25.576
LOAN FUNDS
1] Secured Loans		60.956	58.357	37.730
2] Unsecured Loans		36.443	26.573	13.858
TOTAL BORROWING		97.399	84.930	51.588
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		141.078	120.100	77.164
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.490	3.575	2.670
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.500
DEFERREX TAX ASSETS		0.000	0.000	0.025
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	115.213	97.419	47.166
	Sundry Debtors	173.340	112.384	74.359
	Cash & Bank Balances	14.039	5.328	2.629
	Other Current Assets	0.026	0.045	1.849
	Loans & Advances	9.243	17.034	14.132
Total Current Assets		311.861	232.210	140.135
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	163.762	106.603	57.601
	Other Current Liabilities & Provisions	11.522	9.096	8.583
	Provisions	0.000	0.000	0.000
Total Current Liabilities		175.284	115.699	66.184
Net Current Assets		136.577	116.511	73.951
MISCELLANEOUS EXPENSES		0.011	0.014	0.018
TOTAL		141.078	120.100	77.164

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1443.855	853.137	705.613
		Other Income	14.451	1.393	1.925
		TOTAL (A)	1458.306	854.530	707.538
Less	EXPENSES
		Cost of Purchases	1410.246	850.846	669.725
		Administrative, Selling and Other Expenses	41.756	29.993	22.325
		Director’s Remuneration	2.910	2.256	1.628
		Increase/Decrease in Stock	(17.793)	(50.253)	(5.979)
		TOTAL (B)	1437.119	832.842	687.699
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		21.187	21.688	19.839
Less	FINANCIAL EXPENSES (D)		7.449	6.242	5.689
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		13.738	15.446	14.150
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.951	0.880	0.706
	PROFIT BEFORE TAX (E-F) (G)		12.787	14.566	13.444
Less	TAX (H)		4.278	4.992	5.260
	PROFIT AFTER TAX (G-H) (I)		8.509	9.603	8.281
Less	FBT		0.000	0.011	0.026
	FBT SHORT PROVISION		0.000	0.000	0.013
	ASSESSMENT DUES		0.000	0.018	0.000
	INCOME TAX		0.000	0.000	0.058
Add	DEFERRED TAX ASSET		0.000	0.020	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		30.170	20.576	12.392
	BALANCE CARRIED TO THE B/S		38.679	30.170	20.576
	Earnings Per Share (Rs.)		25.57	29.13	16.56

Expected Sales (2011-12): Rs.1600.000 Millions

The above information has been parted by Mr. A. P. Purohit.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.58	1.12	1.17
Net Profit Margin (PBT/Sales)	(%)	0.89	1.71	1.91
Return on Total Assets (PBT/Total Assets}	(%)	4.04	6.18	9.41
Return on Investment (ROI) (PBT/Networth)		0.29	0.41	0.53
Debt Equity Ratio (Total Liability/Networth)		6.24	5.70	4.60
Current Ratio (Current Asset/Current Liability)		1.78	2.01	2.12

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)
Sundry Creditors for Goods	163.762	106.603	56.796
Sundry Creditors for Expenses			0.805
	163.762	106.603	57.601

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	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last two years	Yes
12) Profitability for last three years	--
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	Yes
18) Major customers	Yes
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	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

FORM 8

Corporate identity number of the company	U52392MH2004PTC148754
Name of the company	CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	20, Babu Building 375/377, Lamington Road, Mumbai – 400007, Maharashtra, India Email Id : ketan@ecreativeindia.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	Bank of India, Mumbai MID Corporate, 70/80, M. G. Road, Bank of India Building, Mezzanine Floor, Fort, Mumbai – 400001, Maharashtra, India Email Id : vlaxman@vsnl.com
Nature of instrument creating charge	Hypothecation Cum Loan Agreement (Plant and Machinery, Stocks and Book Debts)
Date of instrument Creating the charge	12.07.2011
Amount secured by the charge	Rs.15.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate of 4% above the Base Rate presently 14% p.a. Terms of repayment Adhoc CC Facility shall be repayable in 90 days Margin As may be stipulated by the bank from time to time Extent and operation of the charge Hypothecation by way of First Charge on Company's Plant and Machinery, Stocks and Book Debts etc. to secure as a Continuing Security for repayment of Rs.15.000 Millions, by the Company to the Bank with interest/commission, charges, costs and expenses
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All tangible movable machineries and plants (both Present and future) whether installed or not and whether lying loose or at site or in transit or acquired All tangible movable properties and assets and stocks, whatsoever nature of the Borrower (both present and future) and including but without prejudice to the All the present and future book-debts, outstanding, money receivables, claims, bills which are now due and owing or which may at any time hereafter

FIXED ASSETS

· Air Conditioner

· Computers

· Electrical Equipments

· EPABX Systems

· Furniture and Fixtures

· Nokia Phone

· Office Equipments

· Vehicles

TRADE REFERENCES

· Sanghavi Computers

· Komal Systems Private Limited

· Vijay Sales

· Reliance

· Ingram Micro India Limited

· Belkin India

· AOC

· Microsoft Hardware

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.49.07
UK Pound	1	Rs.78.09
Euro	1	Rs.65.15

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	6
--PROFITABILIRY	1~10	4
--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	YES
--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.