MIRA INFORM REPORT

Report Date :

24.02.2012

IDENTIFICATION DETAILS

Name :	PAN INDIA NETWORK LIMITED
Formerly Known As :	PAN (INDIA) NETWORK PRIVATE LIMITED
Registered Office :	135, Continental Building, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra.
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.09.2006
Com. Reg. No.:	05-164863
Capital Investment / Paid-up Capital :	Rs.510.852 Millions
CIN No.: [Company Identification No.]	U92490MH2006PLC164863
TAN No.: [Tax Deduction & Collection Account No.]	MUMN 14368E
PAN No.: [Permanent Account No.]	AACCN 4197N
Legal Form :	A Closely held Public Limited Liability Company.
Line of Business :	Engaged in a business of lotteries, interactive games, computer games, mobile games, video games, Casio games.
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 6000000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There appears some continuous dip in turnover and profitability of the company. However, 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.

INFORMATION PARTED BY (General Details)

Name :	Mr. Chanrakant
Designation :	Accounts Manager
Contact No.:	91-22-66535635
Date :	22.02.2012

LOCATIONS

Registered Office :	135, Continental Building, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India.
Tel. No.:	91-22-66535653/ 25
Fax No.:	91-22-24988728
E-Mail :	subramanian@playwin.esselgroup.com mundrap@playwin.esselgroup.com yadavc@playwinesselgroup.com vishal@cornershop.in agarwaln@playwin.esselgroup.com
Website :	http://www.playwin.com
Location :	Owned

DIRECTORS

(AS ON 29.09.2011)

Name :

Mr. Subramanian Arumugham

Designation :

Director

Address :

A-105, Rajanigandha Sanghi Vigarden Manpada Road , Dombivali-421204 (E), Thane, Maharashtra, India

Date of Birth/Age :

06.06.1955

Date of Appointment :

03.05.2007

DIN No.:

01481916

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	U92490MH2006PLC164863	PAN INDIA NETWORK LIMITED	Whole-time director	1/4/2009	3/5/2007	-	Active	NO
2	U92490MH2006PTC166031	JUPITER GAMING PRIVATE LIMITED	Director	30/08/2007	30/08/2007	1/11/2007	Active	NO
3	U74900MH2010PTC199248	RIGHTTRACK MANAGEMENT SERVICES PRIVATE LIMITED	Director	22/01/2010	22/01/2010	-	Active	NO
4	U74999MH2010PTC210042	LEISURE ENTERTAINMENT TECHNOLOGY PRIVATE LIMITED	Director	14/11/2010	14/11/2010	-	Active	NO
5	U72900TN2011PTC082803	RIGHTTRACK WEBSOLUTIONS PRIVATE LIMITED	Director	20/10/2011	20/10/2011	-	Active	NO

Name :

Mr. Prahalad Ray Mundra

Designation :

Director

Address :

201, H-Wing, Ekta Bhoomi Garden D.P. Road, Brorivali (E), Mumbai-400066, Maharashtra, India.

Date of Birth/Age :

03.07.1974

Date of Appointment :

10.12.2008

DIN No.:

01858658

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	U92490MH2006PLC164863	PAN INDIA NETWORK LIMITED	Whole-time director	1/4/2009	14/08/2007	Active	NO

Name :

Mr. Ashok Balvantrai Sanghvi

Designation :

Additional Director

Date of Appointment :

17.03.2009

DIN No.:

00138475

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	U51900MH1982PTC028163	BRIGGS TRADING COMPANY PRIVATE LIMITED	Director	20/11/1995	20/11/1995	16/03/2009	Active	NO
2	U51900MH1982PTC028131	GANJAM TRADING COMPANY PRIVATE LIMITED	Director	20/11/1995	20/11/1995	11/11/2008	Active	NO
3	U51900MH1982PTC028133	CHURU TRADING COMPANY PRIVATE LIMITED	Director	20/11/1995	20/11/1995	-	Active	NO
4	U51900MH1982PTC028132	PRAJATMA TRADING COMPANY PRIVATE LIMITED	Director	20/11/1995	20/11/1995	-	Active	NO
5	U45201MH2001PTC133172	PAN INDIA NETWORK INFRAVEST PRIVATE LIMITED	Director	25/04/2005	25/04/2005	16/03/2009	Active	NO
6	U92132MH2001PTC130426	MEDIAVEST INDIA PRIVATE LIMITED	Director	2/5/2005	2/5/2005	-	Active	NO
7	U51909MH1996PTC222017	EAST INDIA COMPANY (TRADING) PRIVATE LIMITED	Director	2/5/2005	2/5/2005	4/10/2010	Active	NO
8	U92412MH2008PTC183442	ESSEL CHAMPS PRIVATE LIMITED	Director	12/6/2008	12/6/2008	-	Amalgamated	NO
9	U92412MH2008PTC183874	ROYAL BENGAL SPORTS PRIVATE LIMITED	Director	23/06/2008	23/06/2008	-	Active	NO
10	U92412MH2008PTC183873	LAHORE BADSHAHS PRIVATE LIMITED	Director	23/06/2008	23/06/2008	-	Active	NO
11	U92412MH2008PTC183872	ICL SUPERSTARS SPORTS PRIVATE LIMITED	Director	23/06/2008	23/06/2008	-	Amalgamated	NO
12	U92412MH2008PTC183869	ICL LIONS PRIVATE LIMITED	Director	23/06/2008	23/06/2008	-	Active	NO
13	U92412MH2008PTC183999	ICL HEROES SPORTS PRIVATE LIMITED	Director	25/06/2008	25/06/2008	-	Active	NO
14	U92412MH2008PTC184715	ICL ROCKETS SPORTS PRIVATE LIMITED	Director	16/07/2008	16/07/2008	-	Amalgamated	NO
15	U92412MH2008PTC184712	ICL GIANTS SPORTS PRIVATE LIMITED	Director	16/07/2008	16/07/2008	-	Amalgamated	NO
16	U92410MH2009PTC189362	DHAKA WARRIORS SPORTS PRIVATE LIMITED	Director	5/1/2009	5/1/2009	-	Active	NO
17	U92199MH1982PLC028934	MERRY MOVEMENTS AND EQUIPMENTS LIMITED	Director	29/09/2009	26/02/2009	-	Amalgamated	NO
18	U92490MH2006PLC164863	PAN INDIA NETWORK LIMITED	Additional director	17/03/2009	17/03/2009	-	Active	NO
19	U92412RJ2009NPL028566	RAJASTHAN CRICKET LEAGUE	Director	30/03/2009	30/03/2009	-	Active	NO
20	U92412UP2009NPL037091	AWADH CRICKET LEAGUE	Director	31/03/2009	31/03/2009	-	Active	NO
21	U92130UR2009NPL032847	GARHWAL CRICKET LEAGUE	Director	8/5/2009	8/5/2009	-	Active	NO
22	U92410HP2009NPL031107	HIM-PRADESH CRICKET LEAGUE	Director	21/05/2009	21/05/2009	-	Active	NO
23	U92412CH2009NPL031648	CHANDIGARH CRICKET LEAGUE	Director	3/6/2009	3/6/2009	-	Active	NO
24	U92410PB2009NPL032968	PUNJAB CRICKET LEAGUE	Director	26/06/2009	26/06/2009	-	Active	NO
25	U92413BR2009NPL014640	MAGADH CRICKET LEAGUE	Director	1/7/2009	1/7/2009	-	Active	NO
26	U92413JH2009NPL013650	JHARKHAND CRICKET LEAGUE	Director	2/7/2009	2/7/2009	-	Active	NO
27	U92410OR2009NPL010929	ORISSA CRICKET LEAGUE	Director	6/7/2009	6/7/2009	-	Active	NO
28	U92413AS2009NPL009113	ASSAM CRICKET LEAGUE	Director	13/07/2009	13/07/2009	-	Active	NO
29	U74899DL1995PTC063954	BHILWARA TELENET SERVICES PRIVATE LIMITED	Additional director	1/12/2011	1/12/2011	-	Active	NO

Name :

Mr. Vishal Malhotra

Designation :

Additional Director

Address :

8 Prem Court, J d Tata Road, Churchgate, Mumbai – 400020, Maharahstra, India

Date of Birth/Age :

30.12.1975

Date of Appointment :

27.05.2009

DIN No.:

00129255

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	U64202MH2005PTC154599	CORNERSHOP ENTERTAINMENT COMPANY PRIVATE LIMITED	Director	5/10/2005	5/10/2005	-	Amalgamated	NO
2	U64200MH2007PTC177124	BOMBAY MOBILE SOFTWARES PRIVATE LIMITED	Director	27/12/2007	27/12/2007	1/3/2010	Active	NO
3	U72900MH2008PTC177551	CORNERSHOP ANIMATION COMPANY PRIVATE LIMITED	Director	8/1/2008	8/1/2008	-	Amalgamated	NO
4	U64202MH2006PTC166470	SMART WIRELESS PRIVATE LIMITED	Director	30/09/2009	27/02/2009	-	Active	NO
5	U92490MH2006PLC164863	PAN INDIA NETWORK LIMITED	Additional director	27/05/2009	27/05/2009	-	Active	NO
6	U30006MH2006PLC160095	DIGITAL MEDIA CONVERGENCE LIMITED	Director	30/09/2009	5/8/2009	-	Amalgamated	NO
7	U92100MH2004PTC147541	25FPS MEDIA PRIVATE LIMITED	Director	30/09/2009	2/9/2009	1/11/2011	Active	NO
8	U74990MH2010PTC198648	ITM DIGITAL PRIVATE LIMITED	Director	5/7/2011	15/04/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Chanrakant
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2011)

Names of Shareholders (Equity Shares)	No. of Shares
Churu Trading Company Private Limited, India	1140795
Ganjum Trading Company Private Limited, India	2421569
Prajatama Trading Company Private Limited, India	2862975
Ashok Kurien	299325
Ashok Goel	11059
Jawahar Goel	7338
Veena Investments Private Limited, India	3991611
Hermitage Investment and Trading Private Limited	237288
Premier Finance and Trading Company Private Limited, India	20
Briggs Trading company Private Limited, India	60
Navyata Goenka	2120
Prajatma Enterprises LLP, India	1000
Total	10975160
Names of Shareholders (Preference Shares)	No. of Shares
Zee Network Employee Welfare Association, India	5000
Tashi Delek Gaming Solutions Private Limited, India	1000
Churu Trading Company Private Limited, India	3405000
Prajatama Trading Company Private Limited, India	600000
Total	4011000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Bodies corporate	97.08
Others	2.92
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in a business of lotteries, interactive games, computer games, mobile games, video games, Casio games.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Ansellia Holding Limited

Customers :

End Users and Others

· Alpha Carbonless Paper Manufacturing Company (Private) Limited

· Reliance

No. of Employees :

60 (Approximately)

Bankers :

· Axis Bank Limited,

Universal Insurance Building, Sir P.M. Road, Fort, Mumbai-400001, Maharashtra, India.

· Standard Chartered Bank,

Worli Branch, Mumbai, Maharashtra, India.

· Jammu and Kashmir Bank Limited

(Corporate Headquarters), M.A. Road, Srinagar, Kashmir, Srinagar – 190001, Jammu and Kashmir, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans banks secured	1949.968	1255.076
Interest accrued due other debt secured	0.000	4.515
Total	1949.968	1259.591
NOTE: (A) Rupee Term Loans* Secured by pari passu first charge on moveable property, present and future, and pledge of certain investments of promoters, mortgage of immovable property and guarantees of certain associate bodies corporate
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee Term Loans Others Unsecured	1312.500	2265.892
Total	1312.500	2265.892

Banking Relations :	--
Auditors :
Name :	Lodha and Company Chartered Accountant
Address :	6, Karim Chambers, 40, A. Doshi Marg, Hamam Street, Mumbai-400001, Maharashtra, India.
Tel. No.:	91-22-40021140/22651190/22691414/22691515
Fax No.:	91-22-22650126
E-Mail :	mumbai@lodha.com
PAN No.:	AABFL1893K
Subsidiaries :	· Playwin Gaming Private Limited, Singapore · Capitol Power Limited, Mauritius
Associates :	· Agrani Satellite Services Limited · Buddha Films Limited · Churu Trading Company Private Limited · Creative Gaming Solutions Private Limited · Continental Drug Company Private Limited · Dakshin Media Gaming Solutions Private Limited · Dish TV India Limited · Diligent Media Corporation Limited · E-Connect India Limited · Ecool Gaming Solutions Private Limited. · ETC Network Limited · Essel Shyam Communication Limited · Essel Shyam Technologies Limited · Essel Corporate Resources Private Limited · Essel Infra projects Limited · Essel Ludhiana Talwandi Toll Roads Private Limited · ITZ Cash Card Limited - Formerly Known as Intrex India Limited · Jay Properties Private Limited · Jayneer Capital Private Limited · Mumbai Football Club Private Limited · Pan India Network Infravest Private Limited · Pan India Paryatan Limited · Prajatma Trading Company Private Limited · Rama Associates Limited · Smart Wireless Private Limited · Wire and Wireless Limited · Sprit Sports Private Limited · Sports Hub Private Limited · Taj Television India Private Limited · Tashi Delek Gaming Solutions Private Limited · Ultra Entertainment Solutions Private Limited · Zee Entertainment Enterprises Limited · Zee News Limited

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
11010000	Equity Share	Rs.10/- each	Rs.110.100 Millions
4199000	7% Non cumulative Redeemable Preference share	Rs.100/- each	Rs.419.900 Millions
	Total		Rs.530.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10975160	Equity Share	Rs.10/- each	Rs.109.752 Millions
4011000	7% Non cumulative Redeemable Preference share	Rs.100/- each	Rs.401.100 Millions
	Total		Rs.510.852 Millions

NOTE:

(A) Out of the above:1) 10,953,160 (Previous year 10,953,160) Equity Shares were issued pursuant to a scheme of Arrangement with Pan India Network Infravest Private Limited and Ecool Gaming Solutions Private Limited without payment being received in cash. 2) 12,000 (Previous year 12,000) Equity Shares were issued pursuant to a scheme of Arrangement with Buddha Films Limited without payment being received in cash.

(B) includes: 6,000 (Previous Year 6,000), 7% Non Cumulative Redeemable Preference Shares of Rs.100 each; fully paid-up (The Shares were redeemable at par on or before 4th December, 2010, however, the same has been extended for 3 years). Out of the above:6,000 (Previous year 6,000) 7% Non Cumulative Preference Shares were issued pursuant to a scheme of Arrangement with Pan India Network Infravest Private Limited and Ecool Gaming Solutions Private Limited without payment being received in cash. 4,005,000 (Previous Year 4,005,000), 7% Non Cumulative Redeemable Preference Shares of Rs.100 each; fully paid up (Redeemable at par, after five years from the date of allotment i.e. 25th March, 2010.)

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		510.852	510.852	110.232
2] Share Application Money		0.000	0.000	400.500
3] Reserves & Surplus		918.443	877.220	776.268
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1429.295	1388.072	1287.000
LOAN FUNDS
1] Secured Loans		1949.968	1259.591	3008.123
2] Unsecured Loans		1312.500	2265.892	765.892
TOTAL BORROWING		3262.468	3525.483	3774.015
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
SHARE CAPITAL SUSPENSE		0.000	0.000	0.120
TOTAL		4691.763	4913.555	5061.135
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		555.365	631.901	696.802
Capital work-in-progress		0.000	44.980	99.955
INVESTMENT		1663.825	1719.934	2171.499
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	18.552	24.497	39.346
	Sundry Debtors	96.594	87.451	138.853
	Cash & Bank Balances	52.351	77.723	95.437
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2915.629	3263.016	2686.695
Total Current Assets		3083.126	3452.687	2960.331
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	130.384	383.865	262.598
	Other Current Liabilities	461.250	526.028	547.674
	Provisions	18.919	26.054	57.180
Total Current Liabilities		610.553	935.947	867.452
Net Current Assets		2472.573	2516.740	2092.879
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4691.763	4913.555	5061.135

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	6263.031	22388.825	35144.075
		Other Income	499.864	372.832	329.455
		TOTAL (A)	6762.895	22761.657	35473.530
Less	EXPENSES
		Consumption Materials Changes Inventories	5687.699	21076.505	33565.329
		Employee Related Expenses	124.688	135.002	158.927
		Administrative, Selling and Other Expenses	321.102	784.952	816.516
		TOTAL (B)	6133.489	21996.459	34540.772
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		629.406	765.198	932.758
Less	FINANCIAL EXPENSES (D)		464.338	502.674	390.065
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		165.068	262.524	542.693
Less/ Add	DEPRECIATION/ AMORTISATION (F)		112.845	131.841	157.783
	PROFIT BEFORE TAX (E-F) (G)		52.223	130.683	384.910
Less	TAX (H)		11.000	29.730	73.032
	PROFIT AFTER TAX (G-H) (I)		41.223	100.953	311.878
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		572.883	471.930	160.052
	BALANCE CARRIED TO THE B/S		614.106	572.883	471.930
	IMPORTS
		Stores & Spares	--	0.172	2.710
		Capital Goods	--	0.183	6.541
	TOTAL IMPORTS		--	0.355	9.251
	Earnings Per Share (Rs.)		3.76	9.20	21.27

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.61	0.44	0.88
Net Profit Margin (PBT/Sales)	(%)	0.83	0.58	1.10
Return on Total Assets (PBT/Total Assets}	(%)	1.44	3.20	10.52
Return on Investment (ROI) (PBT/Networth)		0.04	0.02	0.30
Debt Equity Ratio (Total Liability/Networth)		2.71	3.21	3.61
Current Ratio (Current Asset/Current Liability)		5.05	3.69	3.41

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011	31.03.2010	31.03.2009
	(Rs. In Millions)
Sundry Creditors
- Creditor due to Small Micro Medium Enterprise	0.000	0.000	0.000
- Creditor due Other	130.384	383.865	262.598
Total	130.384	383.865	262.598

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	-----
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	No
Profitability for last three years	No
Reasons for variation <> 20%	No
Estimation for coming financial year	No
Capital in the business	No
Details of sister concerns	Yes
Major Suppliers	Yes
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	-----
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	-----
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	No
Incorporation details is applicable	-----
Last Accounts filed at ROC	-----
Major Shareholders, if available	-----

TRADE REFERENCE:

· Alpha Carbonless Paper Manufacturing Company (Private) Limited

· Reliance

· Ansellia Holding Limited

OPERATION:

The Company has achieved sale of Rs.6263.000 Millions during the year under report as compared to Rs.22388.800 Millions in the previous year. The profit before interest and tax was Rs.438.700 Millions as compared to Rs.627.100 Millions in the previous year. In view of amended Lotteries (Regulation) and Rules by Central Government, have restricted the number of draws, a State Government can hold and this has affected the turnover and profitability of the company.

CONTINGENT LIABILITIES:

Contingent Liabilities not provided for in respect of:

A Bank Guarantees given by the Company Rs.71.850 Millions previous year Rs.162.413 Millions for associates secured by pari pasu second charge on fixed assets pledge of certain investment of promoters mortgage of immovable property and guarantees of certain associate bodies corporate.

B Corporate Guarantees given for:

i Subsidiary Company Rs. Nil previous year Rs.136.740 Millions

ii Associates Rs. Nil previous year Rs.1100.000 Millions.

C Disputed Cess and other Taxes*: Rs.10.838 Millions previous year Rs.10.838. Millions

D Disputed Income Tax Rs.4.467 Millions previous year Rs. Nil.

E Claims against the Company not acknowledged as debt: Rs.6.519 Millions previous year Rs.6.519 Millions.

*Excludes interest where applicable the liability whereof is not ascertainable

FORM 8:

Corporate identity number of the company	U92490MH2006PLC164863
Name of the company	PAN INDIA NETWORK LIMITED
Address of the registered office or of the principal place of business in India of the company	135, Continental Building, Dr. A. B. Road, Worli, Mumbai – 400018,Maharashtra, India subramanian@playwin.esselgroup.com
This form is for	Creation of charge
Type of charge	Movable Property (Not being pledge)
Particular of charge holder	· Axis Bank Limited, Universal Insurance Building, Sir P.M. Road, Fort, Mumbai-400001, Maharashtra, India. suman.chattapadhyay@axisbank.com
Nature of description of the instrument creating or modifying the charge	Second pari-passu charge over fixed assets of the company both present and future.
Date of instrument Creating the charge	03.12.2009
Amount secured by the charge	Rs.462.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Nil. Performance Guarantees commission: 1.75% per annum plus applicable taxes and financial guarantee: 2% per annum plus applicable taxes. Terms of Repayment Not Applicable Margin Normal Margin is 20% in case of disputed liabilities shall be 100% Extent and Operation of the charge Nil
Short particulars of the property charged	Second pari-passu charge over fixed assets of the company both present and future.

FIXED ASSETS:

· Lottery Terminals and Networking Equipment

· Furniture and Fixtures

· Office Equipment

· Motor Car

· Computers and Software

· Intangible Assets

· Exclusive Rights-ITZ Cash Card

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.49.25
UK Pound	1	Rs.77.19
Euro	1	Rs.65.29

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		50

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.