1. Summary Information

		Country	INDIA
Company Name	INFOTEL BUSINESS SOLUTIONS LIMITED	Principal Name 1	MR. SURENDRA LUNIA
Status	SATISFACTORY	Principal Name 2	MR. ANANT MAHENDRA NAHATA
		Registration #	55-106823
Street Address	D-7, DHAWANDEEP APARTMENTS, 6, JANTAR MANTAR ROAD, NEW DELHI – 110 001
Established Date	17.07.2000	SIC Code	--
Telephone#	91-11-43523795	Business Style 1	SERVICE PROVIDER
Fax #	91-11-23340453	Business Style 2	--
Homepage	www.infotelgroup.in	Product Name 1	--
# of employees	NOT AVAILABLE	Product Name 2	--
Paid up capital	RS.65,000,000/-	Product Name 3	--
Shareholders	BODIES CORPORATE – 99.99% DIRECTORS OR RELATIVES OF DIRECTORS – 0.003% OTHER TOP FIFTY SHAREHOLDERS – 0.007%	Banking	CORPORATION BANK
Public Limited Corp.	NO	Business Period	12 YEARS
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	Ba (43)
Related Company
Relation	Country	Company Name	CEO
HOLDING COMPANY	INDIA	DIGIVISION VENTURES PRIVATE LIMITED	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	3,131,607,000	Current Liabilities	142,481,000
Inventories	0,000	Long-term Liabilities	4,386,547,000
Fixed Assets	50,605,000	Other Liabilities	3,018,000
Deferred Assets	0,000	Total Liabilities	4,532,046,000
Invest& other Assets	1,565,018,000	Retained Earnings	150,184,000
		Net Worth	215,184,000
Total Assets	4,747,230,000	Total Liab. & Equity	4,747,230,000
Total Assets (Previous Year)	4,730,967,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	16,656,000	Net Profit	3,209,000
Sales(Previous yr)	10,629,000	Net Profit(Prev.yr)	7,150,000

MIRA INFORM REPORT

Report Date :

19.07.2012

IDENTIFICATION DETAILS

Name :	INFOTEL BUSINESS SOLUTIONS LIMITED
Formerly Known As :	HFCL INTERNET SERVICES LIMITED
Registered Office :	D-7, Dhawandeep Apartments, 6, Jantar Mantar Road, New Delhi – 110 001
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.07.2000
Com. Reg. No.:	55-106823
Capital Investment / Paid-up Capital :	Rs.65.000 millions
CIN No.: [Company Identification No.]	U74899DL2000PLC106823
TAN No.: [Tax Deduction & Collection Account No.]	PTLI10683B
PAN No.: [Permanent Account No.]	AAACH9790D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is engaged in the business of providing skilled technical manpower and promoting Ventures around the next generation telecom services Viz., 3G/4G Value Added Services (VAS), Customer Support services, Mobile TV, Security Surveillance etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 861000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a subsidiary of Digivision Ventures Private Limited. It is an established company having satisfactory track. Profitability of the company appears to be low. 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.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.09.2011)	Current Rating (31.12.2011)
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 :	D-7, Dhawandeep Apartments, 6, Jantar Mantar Road, New Delhi – 110 001, India
Tel. No.:	91-11-43523795
Fax No.:	91-11-23340453
E-Mail :	chandrashekar.tv@polixel.in anuragp72@gmail.com
Website :	www.infotelgroup.in (Under Construction)
Corporate Office :	77-B, 3^rd Floor, IFFCO Road, Sector-18, Gurgaon – 122 015, Haryana, India
Tel. No.:	91-124-4310000
Fax No.:	91-124-4310050

DIRECTORS

As on 30.09.2011

Name :

Mr. Surendra Lunia

Designation :

Managing Director

Address :

5010, Phase-IV, DLF, Gurgaon – 122 001, Haryana, India

Date of Birth/Age :

18.10.1962

Qualification :

M. Com, CA, CS

Date of Appointment :

28.03.2001 (April 10, 2010 as Managing Director)

DIN No.:

00121156

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL2000PLC106823	Infotel Business Solutions Limited.	Managing director	10/04/2010	28/03/2001	-	Active	NO
2	U64200MH2004PLC192349	CBSL Cable Networks Limited	Director	02/07/2004	02/07/2004	16/04/2008	Active	NO
3	U64202PB2007PTC030983	Infotel Digicomm Private Limited	Director	17/09/2008	03/04/2007	-	Amalgamated	NO
4	U72900PB2007PLC030897	Infotel Broadband Services Limited	Director	12/08/2008	25/06/2007	23/06/2010	Active	NO
5	U72300DL2007PTC167902	Smart Digivision Private Limited	Director	26/12/2008	15/11/2007	-	Active	NO
6	U64202PB2007PTC030984	Infotel Satcom Private Limited	Director	17/09/2008	18/01/2008	-	Active	NO
7	U64202DL2008PTC172573	Digivision Wireless Private Limited	Director	09/07/2009	19/01/2008	-	Active	NO
8	U72900DL2007PTC170793	Digivision Entertainment Private Limited	Director	29/09/2008	21/01/2008	-	Active	NO
9	U64201PB2008PTC031630	Datacom Telecommunications Private Limited	Director	01/02/2008	01/02/2008	19/11/2008	Active	NO
10	U74120DL2008PTC174245	Digivision Infotainment Private Limited	Director	20/02/2008	20/02/2008	-	Active	NO
11	U64202DL2008PTC174302	Digivision Ventures Private Limited	Director	21/02/2008	21/02/2008	-	Active	NO
12	U51109DL2008PTC174460	Digivision Media Private Limited	Director	25/02/2008	25/02/2008	-	Active	NO
13	U32300DL2007PTC163578	Smart Broadband Services Private Limited	Director	10/11/2008	12/03/2008	-	Active	NO
14	U72900MH2007PLC204763	Videocon Telecommunications Limited	Additional director	14/03/2009	14/03/2009	18/09/2009	Active	NO
15	U64202DL2008PTC174237	Digivision Communications Private Limited	Director	17/08/2009	24/03/2009	-	Active	NO
16	U45204PB2008PTC031918	Infotel Telecom Infrastructure Private Limited	Director	30/09/2009	05/09/2009	-	Active	NO
17	U84200DL1992PTC219215	DigiCall Teleservices Private Limited	Director	17/09/2010	14/12/2009	-	Active	NO
18	U64200DL2010PTC198209	Infotel Telecom Holdings Private Limited	Director	20/01/2010	20/01/2010	-	Active	NO
19	U74992DL2010PTC199109	Infotel Holdings Private Limited	Director	15/02/2010	15/02/2010	-	Amalgamated	NO
20	U93000DL2010PTC199073	Polixel Security Systems Private Limited	Director	15/02/2010	15/02/2010	-	Active	NO
21	U70109DL2010PTC199520	Infotel Infrastructure Private Limited	Director	25/02/2010	25/02/2010	-	Active	NO
22	U93000DL2010PTC200097	DigiVive Services Private Limited	Director	13/03/2010	13/03/2010	-	Active	NO
23	U51909PB2010PTC033763	Infotel Access Enterprises Private Limited	Director	01/04/2010	01/04/2010	-	Active	NO
24	U51909PB2010PTC033760	Infotel Gigaherz Enterprises Private Limited	Director	01/04/2010	01/04/2010	-	Active	NO
25	U51909PB2010PTC033762	MN Ventures Private Limited	Director	29/09/2011	02/04/2010	-	Active	NO
26	U51909PB2010PTC033761	Infotel Infocomm Enterprises Private Limited	Director	29/09/2011	02/04/2010	-	Active	NO
27	U51909PB2010PTC033770	nexG Ventures India Private Limited	Director	05/04/2010	05/04/2010	-	Active	NO
28	U92100DL2010PTC204805	benefitsPLUS Media Private Limited	Director	25/06/2010	25/06/2010	-	Active	NO
29	U45400DL2007PTC165567	Customised Call Center Services Private Limited	Director	28/09/2010	08/09/2010	31/03/2011	Active	NO
30	U65990DL2010PTC211054	DigiVive Holdings Private Limited	Director	03/12/2010	03/12/2010	-	Active	NO
31	U70102DL2010PTC211056	Arizona Ventures Private Limited	Director	03/12/2010	03/12/2010	15/03/2011	Active	NO
32	U64200DL2010PTC211455	OneClick Technologies Private Limited	Director	15/12/2010	15/12/2010	-	Active	NO
33	U64204MH2011PLC213276	Infotel Telecom Limited	Director	10/02/2011	10/02/2011	-	Active	NO
34	U64200DL2011PTC213734	Arizona Globalservices Private Limited	Director	10/02/2011	10/02/2011	15/03/2011	Active	NO
35	U67190DL2011PTC213857	Digivision Holdings Private Limited	Director	30/07/2011	11/02/2011	-	Active	NO
36	U67120DL2011PTC214508	DigiCall Holdings Private Limited	Director	21/02/2011	21/02/2011	-	Active	NO
37	U32300DL2011PTC215856	nexG Devices Private Limited	Director	15/03/2011	15/03/2011	-	Active	NO
38	U27310DL2007PTC166037	mpurse services private limited	Director	30/09/2011	30/03/2011	-	Active	NO
39	U72900DL2011PTC216458	DigiCall Global Private Limited	Director	31/10/2011	07/06/2011	-	Active	NO
40	U64100DL2011PTC222519	Infotel ECommerce Private Limited	Director	19/07/2011	19/07/2011	-	Active	NO
41	U74140KA2010PTC053560	Koovs Marketing Consulting Private Limited	Director	15/10/2011	10/08/2011	-	Active	NO
42	U51909WB2010PTC149855	Natraj Dealmark Private Limited	Additional director	02/11/2011	02/11/2011	10/12/2011	Active	NO
43	U52190WB2009PTC137976	Aakarshan Commosales Private Limited	Additional director	02/11/2011	02/11/2011	10/12/2011	Active	NO
44	U45204DL2011PTC221522	Novelty Realestates Private Limited	Additional director	16/11/2011	16/11/2011	-	Active	NO
45	U40102WB2010PTC156252	Amrit Green Power Private Limited	Additional director	19/11/2011	19/11/2011	30/01/2012	Active	NO
46	U64200HP2008PTC031223	Eminent Networks Private Limited	Additional director	04/02/2012	04/02/2012	-	Active	NO
47	U70200DL2012PTC231873	Thrive Security Solutions Private Limited	Additional director	20/03/2012	20/03/2012	-	Active	NO
48	U51900MH2008PTC179376	Vishvapradhan Commercial Private Limited	Additional director	22/03/2012	22/03/2012	-	Active	NO
49	U45200DL2008PTC185234	Skyblue Buildwell Private Limited	Additional director	25/04/2012	25/04/2012	-	Active	NO
50	U64200DL2012PTC235048	NextWave E-Commerce Private Limited	Director	01/05/2012	01/05/2012	-	Active	NO
51	U64201DL2012PTC237232	NextWave Ventures Private Limited	Director	11/06/2012	11/06/2012	-	Active	NO
52	AAA-1252	Infotel Internet Enterprise LLP	Body corporate as Designated Partner	29/04/2010	29/04/2010	-	Active	NO
53	AAA-5339	Infotel M-Commerce LLP	Body corporate as Designated Partner	24/06/2011	24/06/2011	-	Active	NO
54	AAA-5544	Nexg Ventures LLP	Designated Partner	13/07/2011	13/07/2011	-	Active	NO

Name :

Mr. Anant Mahendra Nahata

Designation :

Director

Address :

W-48, Greater Kailash – II, New Delhi – 110 048, India

Date of Birth/Age :

04.11.1983

Qualification :

Degree of Bachelors in Economics and Maths

Date of Appointment :

29.09.2010

DIN No.:

02216037

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U64203HP1994PLC014541	Exicom Tele-Systems Limited	Managing director	01/08/2011	04/06/2008	-	Active	NO
2	U32204DL1996PTC184912	Satellite Finance Private Limited	Director	04/07/2008	04/07/2008	-	Active	NO
3	U28910DL2008PTC181901	ANM Enginnering and Works Private Limited	Director	11/08/2008	11/08/2008	26/09/2008	Active	NO
4	U64200HP2008PTC031223	Eminent Networks Private Limited	Director	11/08/2008	11/08/2008	04/02/2012	Active	NO
5	U64100DL2009PTC194380	NextWave Communications Private Limited	Director	16/09/2009	16/09/2009	-	Active	NO
6	U51909DL2010PTC198312	Rosemary Commodities Private Limited	Director	22/01/2010	22/01/2010	-	Active	NO
7	U72900PB2007PLC030897	Infotel Broadband Services Limited	Additional director	26/02/2010	26/02/2010	22/06/2010	Active	NO
8	U51909PB2010PTC033762	MN Ventures Private Limited	Director	01/04/2010	01/04/2010	27/08/2011	Active	NO
9	U51909PB2010PTC033761	Infotel Infocomm Enterprises Private Limited	Director	01/04/2010	01/04/2010	-	Active	NO
10	U51909PB2010PTC033770	nexG Ventures India Private Limited	Director	05/04/2010	05/04/2010	19/01/2012	Active	NO
11	U93000DL2010PTC200097	DigiVive Services Private Limited	Director	10/04/2010	10/04/2010	07/02/2011	Active	NO
12	U74899DL2000PLC106823	Infotel Business Solutions Limited	Director	29/09/2010	10/04/2010	-	Active	NO
13	U92100DL2010PTC204805	benefitsPLUS Media Private Limited	Director	15/10/2011	25/10/2010	-	Active	NO
14	U52100HR2011PTC042622	United Designer Brands Private Limited	Nominee director	21/06/2011	21/06/2011	-	Active	NO
15	U74140KA2010PTC053560	Koovs Marketing Consulting Private Limited	Director	15/10/2011	10/08/2011	-	Active	NO
16	U67120DL2011PTC214508	DigiCall Holdings Private Limited	Additional director	26/09/2011	26/09/2011	23/03/2012	Active	NO
17	U40102WB2010PTC156252	Amrit Green Power Private Limited	Additional director	19/11/2011	19/11/2011	30/01/2012	Active	NO
18	U64200DL2012PTC235048	NextWave E-Commerce Private Limited	Additional director	05/05/2012	05/05/2012	27/06/2012	Active	NO
19	AAA-1252	Infotel Internet Enterprise LLP	Body corporate as Designated Partner	29/04/2010	29/04/2010	-	Active	NO

Name :

Mr. Anil Kumar Ratan Chand Jain

Designation :

Director

Address :

39-B, Vijay Mandal Enclave, DDA SFS Flats, Sarvapriya Vihar, New Delhi – 110 016, India

Date of Birth/Age :

13.07.1956

Qualification :

CA

Date of Appointment :

29.09.2010

DIN No.:

00548276

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U64202DL2006PTC147885	S M Broadcast Services Private Limited	Director	23/03/2006	23/03/2006	31/03/2008	Active	NO
2	U74899DL2000PLC104803	Exel Netcommerce Limited	Director	19/07/2006	19/07/2006	-	Active	NO
3	U74899DL1995PLC065083	HFCL Kongsung Telecom Limited	Additional director	27/09/2006	27/09/2006	10/03/2008	Active	NO
4	U74899DL1995PLC066338	HFCL Bezeq Telecom Limited	Additional director	06/12/2006	06/12/2006	-	Active	NO
5	U93000DL2007PTC166247	Jumbo Techno Services Private Limited	Director	29/09/2008	22/08/2007	18/09/2009	Active	NO
6	U72300DL2007PTC167902	Smart Digivision Private Limited	Director	10/09/2007	10/09/2007	19/02/2008	Active	NO
7	U74140HP2007PTC031452	Sunvision Engineering Company Private Limited	Director	29/09/2008	14/09/2007	-	Amalgamated	NO
8	U72900DL2007PTC170793	Digivision Entertainment Private Limited	Director	27/11/2007	27/11/2007	28/03/2008	Active	NO
9	U64202DL2008PTC172573	Digivision Wireless Private Limited	Director	11/01/2008	11/01/2008	28/03/2008	Active	NO
10	U64203HP1994PLC014541	Exicom Tele-Systems Limited	Director	03/09/2008	07/07/2008	18/12/2008	Active	NO
11	U64200HP2008PTC031223	Eminent Networks Private Limited	Director	30/09/2009	28/08/2008	-	Active	NO
12	U74900DL2007PTC166266	Senior Consulting Private Limited	Additional director	03/03/2009	03/03/2009	18/09/2009	Active	NO
13	U74120DL2008PTC174321	Infotel Technologies Private Limited	Director	25/03/2009	25/03/2009	-	Active	NO
14	U74899DL2000PLC106823	Infotel Business Solutions Limited	Director	29/09/2010	31/03/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Sajive Kanwar	100
Anil Kumar Jain	100
Prakash Chand Gulgulia	100
Ranjit Tatar	100
Kamal Kumar Sharma	100
Surendra Lunia	100
Sushil Kumar Wadhwa	100
Digivision Ventures Private Limited, India (Formerly Digivision Content Solutions Private Limited)	6499300
Total	6500000

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	99.99
Directors or relatives of directors	0.003
Other top fifty shareholders	0.007
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the business of providing skilled technical manpower and promoting Ventures around the next generation telecom services Viz., 3G/4G Value Added Services (VAS), Customer Support services, Mobile TV, Security Surveillance etc.

Products/ Services :

Item Code No. (ITC Code)	64202
Product / Service Description	Telecom Manpower Services

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Corporation Bank, Sikanderpur Branch, A-2/8, Qutab Plaza, DLF Phase I, Gurgaon – 122 002, Haryana, India

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Loans taken for vehicles secured	(A) 10.212	12.253
Total	10.212	12.253

(A) *Vehicle Loans are secured by way of exclusive hypothecation charge in favour of bank on the specific assets acquired out of the loan proceeds of the Company. These loans are repayable in equated monthly installments and shall be repaid by 2013. Vehicle loan repayable within one year amounts to Rs.4.693 millions (Previous Year: Rs.3.595 millions) Interest rates on above loans vary from 8.75 percent per annum to 13.24 percent per annum. The maximum tenure of loan is 36 months.

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Fully convertible debentures unsecured	(A) 1300.000	1300.000
Debts bonds other instruments unsecured	(B) 2218.300	2218.300
Other debt unsecured	856.865	940.501
Interest accrued due debentures unsecured	1.170	0.289
Total	4376.335	4459.090

(A) 130000000 Unsecured Debentures carry an interest of 0.1% per annum of Rs.10 each fully paid. (Previous Year: 130000000).

(B) Long term 2218300 Compulsorily Convertible Zero Coupon Bonds "CCZCBs" of Rs.1000 each (Previous Year :2218300)

Banking Relations :	--
Auditors :
Name :	Khandelwal Jain and Company Chartered Accountants
Address :	221, Hans Bhawan, Bahadur Shah Zafar Marg, New Delhi – 110 002, India
Tel. No.:	91-11-23370091/ 23370892/ 23378795
Fax No.:	91-11-23378794
E-Mail :	delhi@kjco.net
Website :	www.kjco.net
Income-tax PAN of auditor or auditor's firm :	AAAFK0985C
Holding Company :	Digivision Ventures Private Limited CIN No.: U64202DL2008PTC174302 Address: D-7, Dhawandeep Apartments, 6, Jantar Mantar Road, New Delhi – 110 001, India
Subsidiary Companies :	v DigiVive Services Private Limited v Polixel, SA, Poland v Digicall Teleservices Private Limited, India (CIN No.: U84200DL1992PTC19215) v Hot line Call Centre Solutions (Private) Limited v Polixel Security Systems Private Limited v benefitsPLUS Media Private Limited v nexG Devices Private Limited
Fellow Subsidiary Companies :	v Polixel Security Systems Private Limited (Ceased to be Subsidiary and become fellow subsidiary w.e.f 03.04.2010) v Benefit Plus Media Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
9000000	Equity Shares	Rs.10/- each	Rs.90.000 millions
1000000	Preference Shares	Rs.10/- each	Rs.10.000 millions
	Total		Rs.100.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6500000	Equity Shares	Rs.10/- each	Rs.65.000 millions

(Out of above 6499300 Equity shares are held by Digivision Ventures Private Limited erstwhile Digivision Content Solutions Private Limited, Holding Company)

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		65.000	40.000	20.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		150.184	71.975	4.825
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		215.184	111.975	24.825
LOAN FUNDS
1] Secured Loans		10.212	12.253	13.638
2] Unsecured Loans		4376.335	4459.090	2807.901
TOTAL BORROWING		4386.547	4471.343	2821.539
DEFERRED TAX LIABILITIES		1.549	0.000	6.023
TOTAL		4603.280	4583.318	2852.387
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		50.605	49.957	74.804
Capital work-in-progress		0.000	5.637	0.866
INVESTMENT		1565.018	1518.896	10.000
DEFERRED TAX ASSETS		0.000	2.775	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	3.525	1.574	110.393
	Cash & Bank Balances	12.542	86.527	19.005
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3115.540	3065.601	2840.481
Total Current Assets		3131.607	3153.702	2969.879
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	24.253	25.530	86.986
	Other Current Liabilities	118.228	121.779	115.992
	Provisions	1.469	0.340	0.184
Total Current Liabilities		143.950	147.649	203.162
Net Current Assets		2987.657	3006.053	2766.717
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4603.280	4583.318	2852.387

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Operating revenue, net	16.656	10.629	184.199
		Other Income	131.286	99.031	84.874
		TOTAL (A)	147.942	109.660	269.073
Less	EXPENSES
		Consumption materials changes inventories	1.914	7.469	98.615
		Employee related expenses	64.429	9.332	82.655
		Administrative selling other expenses	58.916	26.679	22.573
		TOTAL (B)	125.259	43.480	203.843
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		22.683	66.180	65.230
Less	INTEREST FINANCIAL CHARGES (D)		6.429	1.961	1.353
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		16.254	64.219	63.877
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.675	58.442	56.855
	PROFIT BEFORE TAX (E-F) (G)		7.579	5.777	7.022
Less	TAX (H)		4.370	(1.373)	2.985
	PROFIT AFTER TAX (G-H) (I)		3.209	7.150	4.037
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		11.975	4.825	0.788
	BALANCE CARRIED TO THE B/S		15.184	11.975	4.825
	IMPORTS
		Traded Goods	1.914	0.000	3.824
	TOTAL IMPORTS		1.914	0.000	3.824
	Earnings Per Share (Rs.)
	- Basic		0.80	4.01	3.23
	- Diluted		0.52	1.90	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.17	6.52	1.50
Net Profit Margin (PBT/Sales)	(%)	45.50	54.35	3.81
Return on Total Assets (PBT/Total Assets}	(%)	0.24	0.18	0.23
Return on Investment (ROI) (PBT/Networth)		0.04	0.05	0.28
Debt Equity Ratio (Total Liability/Networth)		21.05	41.25	121.84
Current Ratio (Current Asset/Current Liability)		21.75	21.36	14.62

LOCAL AGENCY FURTHER INFORMATION

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	No
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 three years	Yes
12) Profitability for last three 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	Yes
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	Yes
30) Major Shareholders, if available	Yes

PERFORMANCE:

The Company is engaged in the business of providing skilled technical manpower and promoting Ventures around the next generation telecom services Viz., 3G/4G Value Added Services (VAS), Customer Support services, Mobile TV, Security Surveillance etc. These businesses are expected to drive the future growth of the Company’s revenues. The Company has succeeded to achieve a profit after tax of Rs.3.209 millions.

SHARE CAPITAL:

During the year the Authorized Share Capital of the Company was increase from Rs.50.000 millions to Rs.100.000 millions divided into 90,00,000 equity shares of Rs.10/- each and 10,00,000 Preference Shares of Rs.10/- each.

Further, the Board of Directors meeting held on March 31, 2010, has decided and allotted 2500000 equity shares of Rs.10/- each at a premium of Rs.30/- per share to its holding Company Digivision Content Solutions Private Limited (name changed to Digivision Ventures Private Limited) against the conversion of its loans and advances.

Consequent to the aforesaid allotment, the subscribed, issued and paid up equity share capital of the company now stands increased to Rs.65.000 millions comprising of 6500000 Equity Shares of Rs.10/- each.

Contingent liabilities not provided for:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)
Unexpired Letters of Credit (Margin money paid NIL; Previous Year Rs.5.000 millions)	Nil	4.700
Guarantees given by banks on behalf of the Company (Margin Money kept by way of Fixed deposits Rs.0.315 million; Previous Year 0.315 million)	0.315	0.315
Counter Guarantee given on behalf of the Company to Banks for providing guarantee, by way of third party lien. (Margin money kept by way of fixed deposits Rs.5.000 millions; Previous Year 7.500 millions)	5.000	7.500

Bankers Charges Report as per Registry

Corporate identity number of the company	U74899DL2000PLC106823
Name of the company	INFOTEL BUSINESS SOLUTIONS LIMITED
Address of the registered office or of the principal place of business in India of the company	D-7, Dhawandeep Apartments, 6, Jantar Mantar Road, New Delhi – 110 001, India E-Mail: anuragp72@gmail.com
This form is for	Modification of charge
Charge identification number of the modified	10333095
Type of charge	Book Debts Movable Property (not being pledge) Floating Charge Others (Counter Guarantee)
Particular of charge holder	Corporation Bank, Sikanderpur Branch, A-2/8, Qutab Plaza, DLF Phase I, Gurgaon – 122 002, Haryana, India E-Mail: sehgalsc@yahoo.co.in
Nature of description of the instrument creating or modifying the charge	Common Deed of Hypothecation of movables /debts /assets
Date of instrument Creating the charge	09.06.2012
Amount secured by the charge	Rs.120.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Interest @ 14.25% p.a. with monthly rests being 3.75% over the present base rate of 10.5% p.a. subject to change in base rate from time to time. Penal interest 2% p.a. Terms of Repayment: As stipulated by the Bank Margin: As stipulated by the Bank Extent and Operation of the charge: 100% Others: To secure LC/BG limit of Rs.115.000 millions (sublimit of Rs.60.000 millions to be availed by Nexg Devices Private Limited), DBC/BDD Limit of Rs.2.500 millions and Vehicle Loan of Rs.2.500 millions sanctioned to the Company
Short particulars of the property charged	Hypothecation of present and future stock of various types of mobile sets like GSM and CDMA of different make and also stock of laptops, tablet pcs etc Hypothecation of present and future book debts/ receivables of the company Hypothecation of present as well as future fixed assets including furniture and fixtures etc. Counter guarantee from the Company
Date of latest modification prior to the present modification	12.01.2012
Particulars of the present modification	Bank's Charge by way of hypothecation of present and future stock of various types of mobile sets, laptops, tablets etc., book debts/ receivables, fixed assets and counter guarantee from the company, enhanced from Rs.105.000 millions to Rs.120.000 millions.

FIXED ASSETS:

v Computers

v Furniture and Fixture

v Office Equipment

v Vehicles

v Building

v Software

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.55.34
UK Pound	1	Rs.86.55
Euro	1	Rs.67.95

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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		43

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.