MIRA INFORM REPORT

Report Date :

19.01.2012

IDENTIFICATION DETAILS

Name :	MEDIASCOPE PUBLICITAS (INDIA) PRIVATE LIMITED (w.e.f 19.12.2001)

Formerly Known As :	MEDIASCOPE PROMOTION NETWORK (INDIA) PRIVATE LIMITED

Registered Office :	51, Doli Chambers, 5^th Floor, Off Arthur Bunder Road, Colaba, Mumbai – 400005, Maharashtra

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	11.10.2000

Com. Reg. No.:	11-129111

Capital Investment / Paid-up Capital :	Rs.5.000 Millions

CIN No.: [Company Identification No.]	U72900MH2000PTC129111

TAN No.: [Tax Deduction & Collection Account No.]	MUMM14560A

PAN No.: [Permanent Account No.]	AACCM5115F

Legal Form :	Private Limited Liability Company

Line of Business :	Providing Media Concession and Publicitar

No. of Employees :	120 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 528000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track. 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

Name :	Mr. Mehul Vora
Designation :	Account Department
Contact No.:	91-22-22048890
Date :	18.01.2012

LOCATIONS

Registered Office / Head Office :	51, Doli Chambers, 5^th Floor, Off Arthur Bunder Road, Colaba, Mumbai – 400005, Maharashtra
Tel. No.:	91-22-22048890
Fax No.:	91-22-61377400
E-Mail :	mehul.vora@publicitas.com Mumbai(at)publicitas.com girish.sharma@media.scope.com
Website :	http://www.publicitas.com
Location :	Owned

Extension Office for the Head Office :	402, Doli Chambers Arthur Bunder Road, Colaba, Mumbai – 400005, Maharashtra, India

Branch office :	Located at : Delhi Bangalore Chennai Kolkata

DIRECTORS

As on 21.07.2011

Name :

Mr. Marzban B. Patel

Designation :

Managing Director

Address :

P-1, Glenelg, 11, Damani House, Cuffe Parade, Mumbai – 400005, Maharashtra, India

Date of Appointment :

11.10.2000

DIN No.:

00060636

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	U74999MH1995PTC087996	Mediascope Expositions Private Limited	Managing director	03-05-95	03-05-95	-	Strike off	NO
2	U92311MH1996PTC097075	Mediascope Book House Private Limited	Managing director	08-02-96	08-02-96	-	Active	NO
3	U74300MH1996PTC100784	Mediascope Representation (India) Private Limited	Managing director	04-07-96	04-07-96	-	Active	NO
4	U72900MH2000PTC129111	Mediascope Publicitas (India) Private Limited	Managing director	11-10-00	11-10-00	-	Active	NO
5	U74993MH2000PTC130206	Msi Marketing India Private Limited	Managing director	22-12-00	22-12-00	-	Active	NO
6	U74300MH2007FTC174112	Pdm Media (India) Private Limited	Director	14-09-07	14-09-07	-	Active	NO
7	U22219MH2009PTC193542	Edipresse India Private Limited	Director	24-06-09	24-06-09	-	Active	NO

Name :

Mr. Hans Peter Rohner

Designation :

Director

Address :

Route De Geneve, 50B, 1028, Preverenges, Switzerland – 1028

Date of Appointment :

20.04.2007

DIN No.:

01446151

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	U72900MH2000PTC129111	Mediascope Publicitas (India) Private Limited	Director appointed in casual vacancy	20-04-07	20-04-07	-	Active	NO
2	U74300MH2007FTC174112	Pdm Media (India) Private Limited	Director	14-09-07	14-09-07	-	Active	NO

Name :

Mr. Manish Mehta

Designation :

Alternate Director of Mr. Hans Peter Rohner

Address :

38-A-8, Arvasu Co-operative Housing Society, 2^nd Floor, 1sr Road, T.P.S. VI, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Appointment :

29.06.2009

DIN No.:

02721588

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	U74300MH2007FTC174112	Pdm Media (India) Private Limited	Alternate director	29-06-09	29-06-09	-	Active	NO
2	U72900MH2000PTC129111	Mediascope Publicitas (India) Private Limited	Alternate director	29-06-09	29-06-09	-	Active	NO

Name :

Mr. Macro Abis

Designation :

Director

Address :

Retterswilerstrasse 31B, 5703 Seon, Switzerland

Date of Appointment :

03.01.2011

DIN No.:

03631308

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	U72900MH2000PTC129111	Mediascope Publicitas (India) Private Limited	Additional director	03-01-11	03-01-11	-	Active	NO
2	U74300MH2007FTC174112	Pdm Media (India) Private Limited	Additional director	03-01-11	03-01-11	-	Active	NO

Name :

Mrs. Anita M. Patel

Designation :

Alternate Director of Mr. Marco Abis

Address :

P-1, Glenelg, 11 Damani House, Cuffe Parade, Mumbai – 400005, Maharashtra, India

Date of Appointment :

03.01.2011

DIN No.:

00060638

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	U74999MH1995PTC087996	Mediascope Expositions Private Limited	Director	03-05-95	03-05-95	-	Strike off	NO
2	U92311MH1996PTC097075	Mediascope Book House Private Limited	Director	08-02-96	08-02-96	-	Active	NO
3	U74300MH1996PTC100784	Mediascope Representation (India) Private Limited	Director	04-07-96	04-07-96	-	Active	NO
4	U72900MH2000PTC129111	Mediascope Publicitas (India) Private Limited	Alternate director	03-01-11	11-10-00	-	Active	NO
5	U74993MH2000PTC130206	Msi Marketing India Private Limited	Director	22-12-00	22-12-00	-	Active	NO
6	U74300MH2007FTC174112	Pdm Media (India) Private Limited	Alternate director	03-01-11	14-09-07	-	Active	NO
7	U74999MH2008PTC178538	Doli Chambers Premises Private Limited	Director	06-02-08	06-02-08	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Mehul Vora
Designation :	Account Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 21.07.2011

Names of Shareholders		No. of Shares
Marzban B. Patel		120000
Aleesha Patel		55000
Publication Asia Holding Limited, Hong Kong		325000
TOTAL		500000

Equity Share Break up (Percentage of Total Equity)

As on 21.07.2011

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	65.00
Directors or relatives of Directors	35.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing Media Concession and Publicitar

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :	Hotels

No. of Employees :	120 (Approximately)

Bankers :	City Bank

Banking Relations :	--

Auditors :
Name :	Rahul Gautam Divan and Associates Chartered Accountant
Address :	C/O. Midsnell, 134, Mittal Tower C’, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-66324991/ 66324992
Fax No.:	91-22-22875374
E-Mail :	rdivan@@vsnl.com
PAN.:	AADFR9025P

Holding Company :	Publicitas Asia Holding Limited, Hong Kong

Group Companies :	Emphasis Media Limited, Hong Kong Pablicitas (Thailand) Limited, Bangkok Publicitas International SPA Publicitas GMBH Australia Publicitas North America Inc, Los Angeles Publicitas Singapore Private Limited, Singapore Publicitas Limited Publicitas Digital Private Limited

Associates :	Mediascope

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

500000

Equity Shares

(of the above 499980 Equity Share of Rs.10 each are allotted as fully paid up pursuant to business transfer agreement without payment being received in cash) 65% of the entire share capital represent share held by publicitas Asia Holding Limited, Hong Kong the holding limited

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		126.914	106.631	112.317
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		131.914	111.631	117.317
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		131.914	111.631	117.317

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		14.889	12.682	16.084
Capital work-in-progress		0.000	0.000	0.000

INVESTMENT		0.000	0.000	1.569
DEFERREX TAX ASSETS		1.492	1.359	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	277.703	286.746	177.677
	Cash & Bank Balances	46.273	52.840	51.812
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	64.717	44.830	136.728
Total Current Assets		388.693	384.416	366.217
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	207.478	209.291	112.157
	Other Current Liabilities	2.545	27.321	23.399
	Provisions	63.137	50.214	130.997
Total Current Liabilities		273.160	286.826	266.553
Net Current Assets		115.533	97.590	99.664

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		131.914	111.631	117.317

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	190.407	187.217	207.053
		Other Income
		TOTAL	190.407	187.217	207.053

Less	EXPENSES
		Office Expenses	160.034	121.306	152.907
		Administrative Expenses
		Advertising Expenses
		TOTAL	160.034	121.306	152.907

	PROFIT BEFORE TAX		30.373	65.911	54.146

Less	TAX		10.091	23.210	19.331

	PROFIT AFTER TAX 2		20.283	42.701	34.815

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		67.535	77.722	70.306

	Under Provision Earlier		0.000	(1.589)	0.000

Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	4.500	4.000
		Proposed Interim Dividend	0.000	20.000	0.000
		Proposed Final Dividend	0.000	3.399	0.000
		Proposed Final Dividend	0.000	20.000	20.000
		Corporate Dividend Tax	0.000	3.399	3.399
	BALANCE CARRIED TO THE B/S		87.819	67.535	77.722

	EARNINGS IN FOREIGN CURRENCY
		Commission Earnings	86.815	87.257	98.269
		Publishing Revenue	0.000	0.000	3.053
	TOTAL EARNINGS		86.815	87.257	101.322

	Earnings Per Share (Rs.)		40.57	85.40	69.63

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	10.65	22.81	16.81

Return on Total Assets (PBT/Total Assets}	(%)	7.53	16.60	14.16

Return on Investment (ROI) (PBT/Networth)		0.23	0.59	0.46

Debt Equity Ratio (Total Liability/Networth)		2.07	2.57	2.27

Current Ratio (Current Asset/Current Liability)		1.42	1.34	1.37

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

Particulars	31.03.2011	31.03.2010	31.03.2009
	Rs in Millions
Due Micro, Small and Medium Enterprise	0.000	0.000	0.000
Creditors Others	207.478	209.291	112.157
TOTAL	207.478	209.291	112.157

Check list by Info Agents	Available in Reports ( Yes/No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitutions 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 fort last three years	Yes
Profitability for last three years	No
Reasons For Variation<>20%	No
Estimation for coming financial year	No
Capital in Business	Yes
Details of Sister Concern	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details (if Applicable)	No
Market Information	--
Litigations that the firm / Promoter involved in	--
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	--
Buyer visit details	--
Financial, if provided	No
Incorporation details, if applicable	--
Last Account filed at ROC	--
Major shareholder , if available	--

OPERATIONS/WORKING RESULTS

The total income of the Company for the year under review is amounted to Rs.190.407 millions as compared to Rs.187.217 millions for the year 2009-10. After deducting total expenditure of Rs.160.033 millions the Company has earned a profit after tax of Rs.20.283 millions

TRADE REFERENCES

Taj
Leela

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.50.66
UK Pound	1	Rs.77.73
Euro	1	Rs.64.63

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
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	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		47

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.

MIRA INFORM REPORT

0.000

277.703

46.273

0.000

64.717

388.693

207.478

2.545

63.137

273.160

115.533

10.65

7.53

0.23

2.07

1.42

207.478

Unit