MIRA INFORM REPORT

Report Date :

04.06.2012

IDENTIFICATION DETAILS

Name :	OPUS SOFTWARE SOLUTIONS PRIVATE LIMITED
Registered Office :	1^st Floor, Building No.4, Commerzone. Samrat Ashok Path, Yerwada, Pune – 411006, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.04.1997
Com. Reg. No.:	25-107600
Capital Investment / Paid-up Capital :	Rs.13.772 Millions
CIN No.: [Company Identification No.]	U72200MH1997PTC107600
TAN No.: [Tax Deduction & Collection Account No.]	PNE00257F
PAN No.: [Permanent Account No.]	AAACO2203N
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Computer Software Services
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 1200000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported 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 (30.06.2011)	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 :	1^st Floor, Building No.4, Commerzone. Samrat Ashok Path, Yerwada, Pune – 411006, Maharashtra, India
Tel. No.:	91-20-66272100/30925100
Fax No.:	91-20-30925399
E-Mail :	sakharam.kumbhar@opussoft.com
Website :	http://www.opussoft.com
Mumbai Office:	A Wing, Vilco Center, 8 Subhash Road, Near Garware House, Opp. Hotel Planet Residency Vile Parle (East), Mumbai - 400 057. Maharashtra, India
Tel. No.:	91-22-67896800
Fax No.:	91-22-67896829
Chennai Office:	Sterling Towers, 2nd and 3rd Floor, Bldg No. 327, Annasalai, Mount Road, Teynampet ,Chennai - 600 006 Tamil Nadu, India
Tel. No.:	91-44-42297600
Fax No.:	91-44-26612546
Overseas Office:	Located At · Princeton · Omaha · Europe · UAE · Asean

DIRECTORS

As on 21.09.2011

Name :

Mr. Madhusudan Nagarur Gopinath

Designation :

Director

Address :

C -62, Sunder Apartments, Opposite Diamond, Sion Trombay Road, Mumbai- 400071, Maharashtra, India

Date of Birth/Age :

17.07.1959

Date of Appointment :

28.04.1997

DIN No.:

00028272

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	U72200MH1997PTC107600	OPUS SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	28/04/1997	28/04/1997	-	Active	NO
2	U72200PN2000PTC014585	ELECTRACARD SERVICES PRIVATE LIMITED	Whole-time director	21/07/2010	23/08/2008	-	Active	NO

Name :

Mr. Ramesh Laxman Mengawade

Designation :

Managing Director

Address :

E-12, Kapil Malhar, Baner Road, Pune – 411045, Maharashtra, India

Date of Birth/Age :

25.03.1961

Date of Appointment :

28.04.1997

DIN No.:

00028319

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	U72200MH1997PTC107600	OPUS SOFTWARE SOLUTIONS PRIVATE LIMITED	Managing director	28/04/1997	28/04/1997	-	Active	NO
2	U72100TN2000PTC044248	SHEBZ DOT COM PRIVATE LIMITED	Director	25/02/2000	25/02/2000	17/03/2010	Active	NO
3	U72200PN2000PTC014585	ELECTRACARD SERVICES PRIVATE LIMITED	Managing director	27/08/2010	3/10/2000	-	Active	NO
4	U72200PN2012PTC141843	ELECTRANET PAYMENTS PRIVATE LIMITED	Director	1/04/2012	1/04/2012	-	Active	NO

Name :

Mr. Prashant Laxman Mengawade

Designation :

Whole time Director

Address :

C-104, Mantri Kinara, Bhaupatil Road, Bopodi, Pune – 411003, Maharashtra, India

Date of Birth/Age :

04.01.1973

Date of Appointment :

02.10.2006

DIN No.:

01843314

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	U72200MH1997PTC107600	OPUS SOFTWARE SOLUTIONS PRIVATE LIMITED	Whole-time director	28/09/2007	10/02/2006	-	Active	NO
2	U72200PN2000PTC014585	ELECTRACARD SERVICES PRIVATE LIMITED	Whole-time director	21/07/2010	23/08/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 21.09.2011

Names of Shareholders	No. of Shares
Ramesh Mengawade	721125
Madhusudan Gopinath	197544
Paresh Banerjee	72438
R. Vijay Chandar	79565
P. K. Sengupta	17000
Sudhir Sarma	36450
C. Satish Kumar	1500
R. M. Sundaram	3000
Sandeepmenons	2000
S. Ramsubramanian	5000
Prashantlaxman Mengawade	3000
Anil Sharma	3000
Umathorat	1000
A. M. Prasad	109233
L. Muthulingam	33
Ram Narayan Colathur	5000
Mrs. Anita sarma	106666
Jose Antony Thattil	6000
Tushar Shankar	1000
Sanjiv Raghunath Pandit	2000
Avadhanam Sit Aram Sarma	1000
Talapan Manikoth Praveen	1000
Ashok Kumar Pillai	1000
Vaishnaviravindran	1000
Vikram Gadiya	700
Total	1377254

Equity Share Break up (Percentage of Total Equity)

As on 21.09.2011

Category	Percentage
Directors or relatives of Directors	67.00
Other top fifty shareholders	33.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing Computer Software Services
Product:	Item Code No.	Product Description:
	8524	Software Services

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Corporation Bank. Industrial Finance Branch, 14, Pune Mumbai Road, Wakdewadi, pune – 411003, Maharashtra, India

· Axis Bank Limited, 214/215, City Mall, 2^nd Floor, Plot No. 1, S No. 132, Ganeshkhind Road, Pune – 411007, Maharashtra, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Axis Bank CC A/c 037010300007382	50.039	72.759
Corporate Bank – CC Account 1100001	54.011	19.640
ICICI Bank Vehicle Loan (Secured by way hypothecation of vehicle)	0.238	0.435
ICICI Bank Limited – Dell Inida Private Limited (Secured by way hypothecation of Computers)	0.000	1.205
ICICI Bank Limited – Ontrack (Secured by way hypothecation of Services)	0.000	0.202
Axis Bank Term Loan (Office Purchase) – 910060031929479 (Secured by way hypothecation of Assets)	121.629	138.339
Axis Bank Term Loan - 037010600056346	6.060	13.928
Axis Bank Term Loan 037010600056355	0.037	10.348
Total	232.014	256.856
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Indiabulla Term Loan	0.395	2.769
Kotak Mahindra Bank Loan	0.00	5.073
Total	0.395	7.842

Banking Relations :	--
Financial Institution:	Relinace Capital Limited, “H” Block, 1^st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai – 400710, Maharashtra, India
Auditors :
Name :	Raghunathan D. Aiyar Chartered Accountant
Address :	No. 2A, Moledina Road, Camp, Behind New India Assurance Company (Ground Floor), Pune – 411011, Maharashtra, India
Tel No.:	91-20-26138129
Email:	rdaco_ca@hotmail.com rdaco_ca@yahoo.co.in
PAN.:	AEPPA0207A
Subsidiaries :	Electra Card Service Private Limited, India (CIN: U72200PN2000PTC014585)

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs.25.000 Millions
500000	Preference Shares	Rs.10/- each	Rs.5.000 Millions
	Total		Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1377254	Equity Shares	Rs.10/- each	Rs.13.772 Millions

Note: Of the above 5,58,995 (5,58,995) Equity Shares of Rs.10/- each are allotted as fully paid up, for consideration other than cash.

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		13.772	13.773	13.773
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		311.082	285.205	257.771
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		324.854	298.978	271.544
LOAN FUNDS
1] Secured Loans		232.014	256.856	48.365
2] Unsecured Loans		0.395	7.842	0.000
TOTAL BORROWING		232.409	264.698	48.365
DEFERRED TAX LIABILITIES		1.812	0.000	0.000
TOTAL		559.075	563.676	319.909
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		227.433	244.856	79.205
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		105.722	100.239	115.239
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	144.749	125.734	75.249
	Cash & Bank Balances	25.926	47.875	10.781
	Other Current Assets	0.000	0.000	14.213
	Loans & Advances	113.356	108.561	94.736
Total Current Assets		284.031	282.170	194.979
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	46.303	62.049	14.803
	Other Current Liabilities	4.205	1.540	4.593
	Provisions	7.603	0.000	50.118
Total Current Liabilities		58.111	63.589	69.514
Net Current Assets		225.920	218.581	125.465
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		559.075	563.676	319.909

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income from Software Service and Product	526.012	846.610	355.835
		Other Income	25.011	3.866	22.861
		TOTAL	551.023	850.476	378.696
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	506.728 (Including Financial and Depreciation)	780.219	307.335
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION			70.257	71.361
					5.924
Less	FINANCIAL EXPENSES			6.563
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION			63.694	65.437
Less/ Add	DEPRECIATION/ AMORTISATION			20.454	9.654
	PROFIT BEFORE TAX		44.295	43.240	55.783
Less	TAX		16.813	14.200	7.485
	PROFIT AFTER TAX		27.482	29.040	48.298
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		236.207	208.773	162.086
Less	APPROPRIATIONS
		Dividend	1.377	1.377	1.377
		Tax on Dividend	0.229	0.229	0.234
	BALANCE CARRIED TO THE B/S		262.083	236.207	208.773
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	501.926	451.984	363.835
	TOTAL EARNINGS		501.926	451.984	363.835
	IMPORTS
		Capital Goods	0.000	0.000	2.844
	TOTAL IMPORTS		0.000	0.000	2.844
	Earnings Per Share (Rs.)		19.95	21.09	35

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.22	3.43	13.57
Net Profit Margin (PBT/Sales)	(%)	8.04	5.08	14.73
Return on Total Assets (PBT/Total Assets}	(%)	15.59	15.32	28.16
Return on Investment (ROI) (PBT/Networth)		0.14	0.14	0.21
Debt Equity Ratio (Total Liability/Networth)		0.18	0.21	0.20
Current Ratio (Current Asset/Current Liability)		4.89	4.44	2.80

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	--
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

Note: Registered office of the company has been shifted from 201/202 A Wing, 2^nd Floor Mayfair Towers, Shivaji Nagar, Pune – 411005, Maharashtra, India to the present address w.e.f 14.08.2008

CONTINGENT LIABILITIES

Rs. In Millions

PARTICULAR	31.03.2011
Guarantees given by the company	74.120

The Company has filed appeals with the CIT (Appeals) Pune against the assessing officer under the Income Tax Act, 1961 for the A.Y. 2002-03, 2004-05, 2006-07 and 2007-08.

Further the company has preferred appeals against the orders of the CIT (Appeals) Pune to the IT AT Pune for the A.Y. 2003-04 and A.Y.2005-06

The Management is of the opinion that they shall be granted substantial relief on the tax demands by the higher lax authorities.

BANKERS CHARGES REPORT AS PER

Corporate identity number of the company	U72200MH1997PTC107600
Name of the company	OPUS SOFTWARE SOLUTIONS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1^st Floor, Building No.4, Commerzone. Samrat Ashok Path, Yerwada, Pune – 411006, Maharashtra, India Email: sakharam.kumbhar@opussoft.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10109588
Type of charge	Immovable property
Particular of charge holder	Axis Bank Limited, 214/215, City Mall, 2^nd Floor, Plot No. 1, S No. 132, Ganeshkhind Road, Pune – 411007, Maharashtra, India Email: meena.Shankar@axisbank.com
Nature of instrument creating charge	Supplemental Simple Mortgage dated 20th March 2012
Date of instrument Creating the charge	20.03.2012
Amount secured by the charge	Rs.310.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per Agreement Terms of Repayment As per Agreement Margin As per Agreement with the Bank Extent and Operation of the charge Details of Facilities (Rs.in Crores)-Cash Credit 5,PSC/PSCFC(Sublimit of CC facility) (4),Bank Guarantee 10, LER on Forward Contract-(Sub Limit of CC)(1),Term LoanII-Closed, Term LoanIII-Closed, Term Loan IV 16, Bank Guarantee-(One Time)-Closed,Total Facilities Rs.310.000 Millions Charge on hypothecated and mortgaged assets continues till full repayment of Loan.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First Charge on Immovable Fixed Assets of Co.with Second Charge extended to Corporation Bank.1) Premises bearing Unit No.001 adm.39501.73 Sq.Ft. on 1st Office Level of Building No.04 in the Scheme known as "COMMERZONE"constructed on the Building Sub Plot No.04 being the demarcated portion of larger land bearing S.No.144(CTS No.2648) and S.No.145(CTS No.2649) totally adm.about 103703.45 Sq.Mtrs. at Yerwada with 53 Car/Scooter Parking Space alongwith other assets such as furniture and fixtures, equipments, machinery - fixed and movable,structures and any other assets sit.thereon.2) All that piece and parcel of property bearing Plot No.23/2 adm.6000 Sq.Mtrs.in Rajiv Gandhi Infotech Park,Hinjewadi, Phase III of Vill. Man.Taluka Mulshi with buildings constructed thereon alongwith other assets such as furniture and fixtures, equipments,machinery-fixed and movable,structures and any other assets sit.thereon. First charge on pari passu basis on entire movable fixed assets both present and future,including the moveable assets created out of Capex programme alongwith Corporation Bank.1st charge on parri passu basis on entire current assets both present and future alongwith Corporation Bank.Hypothecation of IPR,whole of plant and machinery,all stock in trade both present and future consisting stock incl.raw material,stock in process,finished goods,cash,other current assets, all amounts,owing to,and received and/or receivable by the borrower including book debts and receivables and all tangible rights. First pari passu charge over movable fixed assets of the Company except Vehicles, both present and future alongwith Corporation Bank. Hypothecation of the IPR of the Co's products already developed and being developed/modified during the currency of Loan(present and future)2^nd charge on pari passu basis on entire moveable fixed assets,entire current assets of ElectricaCard Services Pvt.Ltd., with1st chargewith Corporation Bank except assets financed by Reliance Capital Fund
Date of instrument modifying the charge	15.07.2011
Particulars of the present modification	Mortgage on immovable properties of Co.-Premises bearing Unit No.001 adm.39501.73 Sq.Ft.in Building No.04 of "Commerzone" at Yerwada and All that piece and parcel of property bearing Plot No.23/2 adm.6000 Sq.Mtrs. in Rajiv Gandhi Infotech Park,Hinjewadi (Detailed description as per Mortgage Agreement) was extended to secure the enhanced Bank Guarantee Facility of Rs.70.000 Millions Thus,the mortgage on immovable properties of Company covers total facilities availed by the Company.

Fixed Assets

· Computer System

· Equipments and Accessories

· Furniture and Fixtures

· Electrical and Networking Installation

· Office Equipments

· Vehicle

· Software

· Goodwill Account

· Land/Advance for Land

· Office Premises

AS PER WEBSITE DETAILS

COMPANY PROFILE

Opus Software Solutions specializes in providing solutions and services to retail payments industry. Their corporate vision is to be the I T services partner of choice to the world’s leading participants in the retail payments ecosystem.

They pride ourselves in getting their customers to dream, defy conventional thoughts, apply their creativity, and exploit technology to the limits.

Mission

To be one of the most admired and respected global payments service providers by market share, revenues and analyst rankings.

BOARD OF DIRECTOR

Ramesh Mengawade

Ramesh has led the Opus group from the front envisioning business lines, markets, and geographies that the group will venture into. As CEO of the Opus group, Ramesh delegates responsibilities to operational heads of Opus Software Solutions and ElectraCard Services focussing on strategic aspects of business lines and key customer and partner relationships. Ramesh has 27 years’ experience in the IT industry with the last 20 years in strategic business management, key customer acquisition and leadership building.

Ramesh is an alumnus of the Military School of Jamnagar and holds a Bachelor’s Degree in Computer Science and Engineering from the Indian Institute of Technology, Kharagpur.

Madhu Gopinath

Madhu is founder-director on board of Opus. He has earlier held various roles and responsibilities including professional services, pre-sales, business development, and product management in the Opus group. He has 20 years of intensely focused experience in the application of information technology in the retail payments and securities industries, with a total of 29 years in conceptualizing and deploying mission critical systems. He has had successful stints earlier at Tata Consultancy Services, Tandem Computers and Indigo Technologies.

Paresh Banerjee

Paresh Banerjee has been at the helm of business operations of Opus Software Solutions for the last 7 years. Prior to this Paresh, who is co-founder of Opus Software Solutions, has held a variety of roles and responsibilities in the organization. He has over 22 years of experience in the IT industry, starting with Wipro and then a stint at Indigo Technologies, a startup focussing on building software products for the capital markets and banking industries. Paresh has a Master’s Degree in Computer Applications from the MS University, Baroda.

Chetan Naik

Chetan Naik is President-Sales and Marketing at Opus Software Solutions. He oversees the global sales and marketing function for Opus & its subsidiary Electracard. Chetan brings with him more than 25 years of extensive experience in sales and marketing in the IT industry across multiple business lines and geographies. Chetan has worked with industry leaders Wipro, Ramco Systems, Mastek; his last position was with IBM, as Vice President – General Business India (West). After completing his electrical and electronics engineering from BITS Pilani he pursued a master’s degree in marketing management from Jamnalal Bajaj Institute of Management Studies

Praveen TM

Praveen currently heads the Delivery function in Opus and has all the onsite and offshore delivery teams reporting to him. He leads the largest contingent and is responsible for implementing best practises, maintaining quality & operational excellence in the delivery function. Working closely with his people, Praveen focuses on building teams and identifying leaders for software delivery, quality, testing, and remote infrastructure management teams. In the past, he has lead initiatives in software engineering culminating in CMMiL5 certification for Opus. Praveen has hands-on experience in delivering mission-critical applications for the capital markets and retail payments industries.

Amlan Ray

Amlan Ray has over 25 years’ experience working in the software industry in Executive Management, Sales, Professional Services, Project Management and Client Relationship Management. He has successfully managed client relationships with several Fortune 500 Financial Institutions in North America, Europe and Asia. Since 1999, he has been working with IT services companies in North America to head their business and client relationship function. He has a Master's Degree in Applied Maths. At Opus, Amlan is responsible for managing Client Relationships and Business Development.

S. Ramasubramaniam

S. Ramasubramaniam is a technology architect and has over 18 years industry experience during which he has architected high-performing OLTP solutions and spearheaded many technology initiatives. He has a successful track record in the execution and delivery of several key projects and products in banking and securities industries. He has in-depth expertise and experience in various technology platforms – Microsoft, Unix, Web, and HP Non Stop. At Opus, Ram is responsible for leading key and strategic technology initiatives. He has a Bachelor’s degree in Computer Science Engineering from the University of Madras, India.

Vivian Fernandes

Vivian Fernandes is Head of Human Resources at Opus and is responsible for organization building and HR management. He has over 15 years of experience in Human Resources at strategic as well as operational levels in the areas of Staffing, Competency Development, Performance Management, Training and Development, Compensation and Benefit and Employee Relations. A post graduate in Personnel Management from Pune University, Vivian has worked with Sybase, Tech Mahindra, Synechron and Approva in the past.

PRESS RELEASE

Opus Software Solutions launches Payments Centers of Excellence

Offers domain specific services across the retail payments spectrum

Pune, 3rd April, 2012: Opus Software Solutions, a leading provider of software solutions to the retail payments industry, is pleased to announce a bouquet of Payments Center of Excellence (CoEs) each catering to needs of a specific segment of the industry. Opus’ Centers of Excellence will play a pivotal role in positioning the company at the upper end of industry leadership, globally.

The six CoEs comprise Security and Risk, Mobile, Acquiring, Issuing, Payment Devices and Remittance. The Opus CoE provides offerings that address specific needs of each segment; a segment specific solution is backed by expertise for that domain, rigorous application of quality processes to enable customers reduce time to deploy new business products and services while managing risks and challenges associated with such critical technology implementations.

Speaking on this occasion Mr. Ramesh Mengawade, CEO, Opus Software Solutions, said, "Opus Payments Centers of Excellence will allow us to serve our customers better. We have seen a significant increase in demand for our payment solutions and services and by implementing the new Opus CoE solutions, customers will benefit from ready to refer solutions, our payments domain expertise, and our outstanding capability in delivery of technology solutions.

About Opus Software Solutions (Private). Limited

Opus Software Solutions is a highly specialized and leading provider of technologies, software products and integration services in the payments domain on a global basis. Its solutions are characterized as adaptable, scalable and change responsive and cater to the demanding needs of the payment industry. Opus professionals combine a wealth of experience, domain expertise, technological prowess and mature processes to deliver market-leading solutions for mission critical OLTP applications for retail payments. Opus has provided solutions for clients in more than 25 countries that deliver millions of sub-second stock transactions, create innovative prepaid card programs, implement card-less ATM withdrawals and integrate multiple channels such as traditional clients, web, mobile and kiosks for seamless service delivery.

Opus Software inaugurates new development center in Chennai

Pune, July 19, 2011: Opus Software Solutions, a leading provider of software solutions to the payments industry, inaugurated its new development center in Chennai.

Opus Software Solutions is a CMMi Level 5 and ISO 27001 and ISO 9001:2008 certified software Solutions Company providing highly specialized services to the global finance industry with development centers at Chennai, Pune and Mumbai.  

While growing from strength to strength in last 14 years, this centre is now looking at an aggressive ramping up of operations and hence moved to a new premise to facilitate the process.  

During this occasion Mr. Ramesh Mengawade, CEO, Opus Software, said, "The new space will allow us to expand our Chennai operations to serve our clients better from multiple engineering centres. As we have seen a significant increase in demand for our payment solutions and services, we have strengthened this centre by doubling its capacity."

About Opus Software:

Opus Software Solutions is a CMMi Level 5 and ISO 27001 and ISO 9001:2008 certified software Solutions Company providing highly specialized services to the global finance industry. Opus consultants combine a wealth of experience, domain expertise, technological prowess and mature processes to deliver market-leading solutions in areas as diverse as payment systems, mission critical OLTP applications and equities trading systems. 

Opus is a process driven and quality conscious organization with extensive knowledge of the payments landscape across acquirers, issuers, device manufacturers, networks (Visa/ MasterCard) and other intermediaries. It has built transaction processing systems for brokerages and banks that cater to millions of transactions with split-second response times.

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.55.91
UK Pound	1	Rs.86.03
Euro	1	Rs.69.12

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.