MIRA INFORM REPORT

Report Date :

14.02.2012

IDENTIFICATION DETAILS

Name :	CDC MICROFINANCE PRIVATE LIMITED
Registered Office :	Main Road, Near Ghat Road, Genguvarpatti, Theni – 625203, Tamilnadu, India
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	30.10.2008
Com. Reg. No.:	18-069707
Capital Investment / Paid-up Capital :	Rs.55.055 Millions
CIN No.: [Company Identification No.]	U65922TN2008PTC069707
TAN No.: [Tax Deduction & Collection Account No.]	MRIC01362E
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in micro finance activities.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B [27]

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 222000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an relatively new company having moderate track. The performance of the company is steadily increasing. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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

LOCATIONS

Registered Office :	Main Road, Near Ghat Road, Genguvarpatti, Theni – 625203, Tamilnadu, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	ajohnmoris@hotmail.com

DIRECTORS

As on 07.06.2011

Name :

Mr. Jesudasan Mariaviagula Nadar

Designation :

Director

Address :

N 6 Harmonious Homescape, 2 137mount Poonamallee Road,Kattupakkam, Chennai, 600056, Tamilnadu, India

Date of Appointment :

30.10.2008

DIN :

01653947

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	U65921TN1995PLC030939	BWDA FINANCE LIMITED	Director	30/09/2002	30/09/2002	-	Active	NO
2	U65993TN1995PLC031771	INDIAN AUTOGAS COMPANY LIMITED	Director	30/10/2006	30/10/2006	31/03/2009	Active	NO
3	U65929TN2008PLC068502	VIRUTCHAM MICROFINANCE LIMITED	Director	8/7/2008	8/7/2008	-	Active	NO
4	U65922TN2008PTC069707	CDC MICROFINANCE PRIVATE LIMITED	Director	30/10/2008	30/10/2008	-	Active	NO

Name :

Mr. Pandian Paramasivam Pillai

Designation :

Managing Director

Address :

New.No.45, Sornampillai St,Devadanapatti, Periyakulamtheni, 625602, India

Date of Appointment :

30.10.2008

DIN :

02280321

Name :

Mr. Pandian Oliva Rani

Designation :

Director

Address :

Old No.24, New.No:45, Sornampillaistreet,, Devadanapatti, Periyakulam(Tk), Theni, 625602, India

Date of Appointment :

30.10.2008

DIN :

02286141

Name :

Mr. Ramanathan Annamalai

Designation :

Director

Address :

28, Tansi Nagar, 18^th St. Velachery, Chennai – 600042, Tamilnadu, India

Date of Birth/Age :

25.12.1948

Date of Appointment :

23.10.2009

DIN :

02645247

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	U65191KA1995PLC057884	SAMASTA MICROFINANCE LIMITED	Director	24/08/2009	23/04/2009	-	Active	NO
2	U15676DL1995PTC189943	MIMOZA ENTERPRISES FINANCE PRIVATE LIMITED	Director	24/08/2010	29/05/2009	31/12/2011	Active	NO
3	U65922TN2008PTC069707	CDC MICROFINANCE PRIVATE LIMITED	Director	23/10/2009	23/10/2009	-	Active	NO
4	U65910AP1993PLC015642	MICROSUPPORT FINANCIAL SERVICES LIMITED	Director	29/09/2010	21/12/2009	-	Active	NO
5	U51109WB1994PTC063746	VILLAGE FINANCIAL SERVICES PVT. LTD.	Director	8/7/2010	16/02/2010	-	Active	NO
6	U67190TN2004NPL053428	NANAYA SURABHI DEVELOPMENT FINANCIAL SERVICES	Director	30/06/2010	30/06/2010	-	Active	NO
7	U65920TN2008PLC068790	ASHA MICRO CREDIT LIMITED	Additional director	16/11/2010	16/11/2010	10/7/2011	Under liquidation	NO
8	U65993KA1995PTC017349	KAVERI CREDITS(INDIA)PRIVATE LIMITED	Director	30/06/2011	14/12/2010	-	Active	NO
9	U65921TN1995PLC030939	BWDA FINANCE LIMITED	Director	17/09/2011	17/09/2011	-	Active	NO
10	U74899KA1994PTC049746	BSS MICROFINANCE PRIVATE LIMITED	Additional director	30/09/2011	30/09/2011	-	Active	NO
11	U15310DL2011PTC221828	GO DAIRY PRIVATE LIMITED	Additional director	11/10/2011	11/10/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 07.06.2011

Names of Shareholders	No. of Shares
Jesudasan Mariaviagula Nadar	10000
Pandian Paramasivam Pillai	350000
Pandian Oliva Rani	40000
P. Pankajam	10000
Abraham Bose	1038
Paramasivam Pillai M A	60000
Senthil Prabhu	50000
S.Shanmuga Priya	20000
CDC-Coimbatore Mutual Benefit Trust	1587387
CDC-Erode Mutual Benefit Trust	318876
CDC-Karur Mutual Benefit Trust	1353510
CDC-Theni Mutual Benefit Trust	497780
CDC-Staff Welfare Trust	509750
CDC-Thanjavur Mutual Benefit Trust	337075
CDC-Trichy Mutual Benefit Trust.	360070
Total	5505486

Particulars	Nos.	Rs.	%
Individual	541038	5410380	9.83
CDC-Coimbatore Mutual Benefit Trust	1587387	15873870	28.83
CDC-Erode Mutual Benefit Trust	318876	3188760	5.79
CDC-Karur Mutual Benefit Trust	1353510	13535100	24.58
CDC-Theni Mutual Benefit Trust	497780	4977800	9.04
CDC-Virudhnagar Mutual Benefit Trust	-	-	0
CDC-Staff Welfare Trust	509750	5097500	9.26
CDC-Thanjavur Mutual Benefit Trust	337075	3370750	6.12
CDC-Trichy Mutual Benefit Trust.	360070	3600700	6.54
Total	5505486	55054860	100.00

As on 07.06.2011

Equity Share Break Up Category	Percentage
Directors or relatives of Directors	8.55
Others	91.45
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in micro finance activities.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Maanaveeya Holdings and Investments Private Limited	10.000	0.000
Total	10.000	0.000

Banking Relations :	--
Financial Institution :	Ananya Finance For Inclusive Growth Private Limited, 401, Shaan,Near Sakar 4, Opposite M J Lirary, Ashram Road, Ahmedabad - 380006, Gujarat, India Maanaveeya Holdings and Investments Private Limited, Plot No 197, Prasasan Nagar, Jubilee Hills, Road No:72, Hyderabad - 500033, Andhra Pradesh, India
Auditors :
Name :	A Johnmoris and Company Chartered Accountants
Address :	17/9, Lakshmipuram Main Street, Lloyds Road, Royapettah, Chennai – 600014, Tamilnadu, India
Tel. No.:	91-44-28116003 / 04
E-Mail :	Ganesan73@rediffmail.com
PAN :	AABFA3006F

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs.100.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,505,486	Equity Shares	Rs.10/- each	Rs.55.055 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		55.055	40.994	20.407
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.690	0.287	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		55.745	41.281	20.407
LOAN FUNDS
1] Secured Loans		10.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		10.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.072	0.032	0.000
TOTAL		65.817	41.313	20.407
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.641	0.735	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.996	0.996	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	17.923	8.080	20.092
	Other Current Assets	0.726	0.726	0.007
	Loans & Advances	45.867	30.696	0.000
Total Current Assets		64.516	39.502	20.099
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	0.157	0.066	0.000
	Provisions	0.319	0.040	0.000
Total Current Liabilities		0.476	0.106	0.000
Net Current Assets		64.040	39.396	20.099
MISCELLANEOUS EXPENSES		0.140	0.186	0.308
TOTAL		65.817	41.313	20.407

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	10.564	4.581
		Other Income	0.015	0.673
		TOTAL (A)	10.579	5.254
Less	EXPENSES
		Establishment Expenses	5.463	2.193
		Administration and other Expenses	4.107	2.475
		Preliminary Expenses written off	0.047	0.047
		Preoperative Expenses written off	0.000	0.075
		TOTAL (B)	9.617	4.790
	PROFIT/[LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.962	0.464
Less	FINANCIAL EXPENSES (D)		0.221	0.000
	PROFIT/[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.741	0.464
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.093	0.049
	PROFIT / [LOSS] BEFORE TAX (E-F) (G)		0.648	0.415
Less	TAX (H)		0.245	0.128
	PROFIT / [LOSS] AFTER TAX (G-H) (I)		0.403	0.287
Less	Statutory reserve as per RBI Act @20% during the year		0.081	0.057
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.230	0.000
	BALANCE CARRIED TO THE B/S		0.552	0.230
	Earnings/[Loss] Per Share (Rs.)		0.07	-

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.81	5.46	NA
Net Profit Margin (PBT/Sales)	(%)	6.13	9.06	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.99	1.03	NA
Return on Investment (ROI) (PBT/Networth)		0.01	0.01	NA
Debt Equity Ratio (Total Liability/Networth)		0.19	0.00	0.00
Current Ratio (Current Asset/Current Liability)		135.54	372.66	0.00

LOCAL AGENCY FURTHER INFORMATION

Bankers Charges Report as per Registry

Corporate identity number of the company	U65922TN2008PTC069707
Name of the company	CDC MICROFINANCE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Main Road, (Near Ghat Road), Genguvarpatti, Theni – 625203, Tamil Nadu, India
This form is for	Creation of charge
Type of charge	Book Debts
Particular of charge holder	Ananya Finance For Inclusive Growth Private Limited, 401, Shaan,Near Sakar 4, Opposite M J Lirary, Ashram Road, Ahmedabad - 380006, Gujarat, India Email : ananya_igf@yahoo.in
Nature of instrument creating charge	Loan sanction letter
Date of instrument Creating the charge	05.08.2011
Amount secured by the charge	Rs.1000.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - The current rate of interest is 15% p.a. The interest rate is subject to change and will be intimated to the borrower from time to time. Terms of Repayment - The loan shall be repaid in 12 month from the date of first disbursement of loan. Loan installments of principal and interest shall be payable as per the repayment schedule provided after the disbursement. Margin - NIL Extent and Operation of the charge - Ananya Finance for Inclusive Growth Private Limited will have first exclusive charge on the book debts arising out of on lending operation from Ananya Finance for Inclusive Growth Private Limited Loan fund. 18 no of advance post dated cheques of equal amount, aggregating to the loan amount along with the loan agreement will be taken from the borrower.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Ananya Finance for Inclusive Growth Private Limited will have first exclusive charge on the book debts arising out of on lending operation from Ananya Finance for Inclusive Growth Private Limited Loan 18 no of advance post dated cheques of equal amount, aggregating to the loan amount along with the loan agreement will be taken from the borrower.

FIXED ASSETS :

• Furniture and Fixtures
• Computer
• UPS

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.49.31
UK Pound	1	Rs.77.84
Euro	1	Rs.65.35

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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		27

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.