MIRA INFORM REPORT

Report Date :

29.06.2012

IDENTIFICATION DETAILS

Name :	C P SYSTEMS PRIVATE LIMITED
Registered Office :	201 Kailash Bhawan 35, Community Centre, Wazir Pur Industrial Area, New Delhi – 110052
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.09.1999
Com. Reg. No.:	55-101718
Capital Investment / Paid-up Capital :	Rs. 44.352 Millions
CIN No.: [Company Identification No.]	U29199DL1999PTC101718
PAN No.: [Permanent Account No.]	AACCC0999H
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in offering turnkey projects services, road construction services etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 710000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There appears some dip in the profitability of the company. However, trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. 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 :	201 Kailash Bhawan 35, Community Centre, Wazir Pur Industrial Area, New Delhi – 110052, India
Tel. No.:	91-11-27376650/ 47065919
Fax No.:	91-11-27376650
E-Mail :	alokbmathur@sify.com

DIRECTORS

AS ON 27.09.2011

Name :

Mr. Sanjay Shandilya

Designation :

Managing director

Address :

J-68, Ashok Vihar, Phase-1, New Delhi – 110052, India

Date of Birth/Age :

16.05.1974

Date of Appointment :

27.09.1999

DIN No.:

00371010

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	Company/ LLP Status	Defaulting status
1	U29199DL1999PTC101718	C P SYSTEMS PRIVATE LIMITED	Managing director	15-02-10	27-09-99	Active	NO
2	U65921DL1997PTC089994	C P MEDIA SERVICES PRIVATE LIMITED	Director	21-08-03	21-08-03	Active	NO
3	U70109DL2006PTC150418	C.P. PROJECTS PRIVATE LIMITED	Managing director	30-06-06	30-06-06	Active	NO
4	U72200DL1999PTC101529	CPVS INFRASTRUCTURE PRIVATE LIMITED	Director	05-08-09	05-08-09	Active	NO
5	U14200DL2010PTC204037	C P MINES EXPLORERS PRIVATE LIMITED	Director	14-06-10	14-06-10	Active	NO
6	U40109DL2010PTC204395	C P ENERGY PRIVATE LIMITED	Director	21-06-10	21-06-10	Active	NO
7	U45400DL2011PTC220631	C. P. COATINGS PRIVATE LIMITED	Managing director	09-06-11	09-06-11	Active	NO

Name :

Mr. Akash Raj Gupta

Designation :

Director

Address :

95/35, Naya Parv, Rohtak - 128112, Haryana, India

Date of Birth/Age :

02.01.1981

Date of Appointment :

01.05.2008

DIN No.:

01437901

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	Company/ LLP Status	Defaulting status
1	U72200DL2005PTC140484	RCAP INFOTECH PRIVATE LIMITED	Director	07-09-05	07-09-05	Active	YES
2	U29199DL1999PTC101718	C P SYSTEMS PRIVATE LIMITED	Director	15-05-10	01-05-08	Active	NO

Name :

Mr. Mishri Lal Shandilya

Designation :

Director

Address :

B-154, Mig Flats, Ashok Vihar, Phase-IV, New Delhi – 110052, India

Date of Birth/Age :

06.07.1943

Date of Appointment :

10.02.2007

DIN No.:

02094154

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2011

Names of Shareholders	No. of Shares
Sanjay Shandilya	25,30,296
Sanjay Shandilya HUF	13,59,000
Mishri Lal Shandilya	7,200
Ritu Shandilya	2,16,000
Baby Sanya Shandilya U/G Sanjay Shandilya	1,80,000
Master Siddharth Shandilya U/G Sanjay Shandilya	54,000
Akash Raj Gupta	88,704
Total	4435200

AS ON 27.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in offering turnkey projects services, road construction services etc.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

CIN No.: L65920MH1994PLC080618

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loans taken for vehicles secured	2.043	1.810
Loans taken for other fixed assets secured	8.150	3.958
Total	10.193	5.768
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans banks unsecured	0.302	0.655
Rupee term loans financial institutions unsecured	3.242	5.186
Loans taken for vehicles unsecured	0.753	1.234
Other debt unsecured	1.496	0.000
Total	5.793	7.075

Banking Relations :	--
Auditors :
Name :	Alok B. Mathur and Company Chartered Accountants
Address :	419, Ansal Chambers-II, Bhikaji Cama Place, New Delhi-110066, India
Income-tax PAN of auditor or auditor's firm :	AAHPM8919K
Enterprises over which key Management Personnel are able to exercise significant Influence :	C.P. Media Services Private Limited
Joint Venture :	CPS NGP

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs. 10/- each	Rs. 200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4435200	Equity Shares	Rs. 10/- each	Rs. 44.352 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		44.352	4.928	4.928
2] Share Application Money		118.316	118.316	0.000
3] Reserves & Surplus		15.009	43.232	26.019
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		177.677	166.476	30.947
LOAN FUNDS
1] Secured Loans		10.193	5.768	18.665
2] Unsecured Loans		5.793	7.075	0.000
TOTAL BORROWING		15.986	12.843	18.665
DEFERRED TAX LIABILITIES		2.122	1.622	0.242
TOTAL		195.785	180.941	49.854
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		131.455	134.908	10.391
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	16.355	12.598	12.725
	Sundry Debtors	243.614	112.814	192.548
	Cash & Bank Balances	2.080	5.637	1.321
	Other Current Assets	13.953	11.379	3.593
	Loans & Advances	96.948	52.901	18.725
Total Current Assets		372.950	195.329	228.912
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	288.838	138.339	162.030
	Other Current Liabilities	8.366	3.788	27.092
	Provisions	12.566	7.169	0.327
Total Current Liabilities		309.770	149.296	189.449
Net Current Assets		63.180	46.033	39.463
MISCELLANEOUS EXPENSES		1.150	0.000	0.000
TOTAL		195.785	180.941	49.854

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	470.537	467.613	539.577
Less	EXPENSES		434.649	433.147	519.342
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		35.888	34.466	(Including Depreciation)
Less/ Add	DEPRECIATION/ AMORTISATION		18.998	8.832
	PROFIT BEFORE TAX		16.890	25.634	20.235
Less	TAX		5.689	8.431	7.389
	PROFIT AFTER TAX		11.201	17.203	12.846
	Earnings Per Share (Rs.)		2.53	34.91	26.07

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.38	3.68	2.38
Return on Total Assets (PBT/Total Assets}	(%)	3.35	7.76	8.46
Return on Investment (ROI) (PBT/Networth)		0.10	0.15	0.65
Debt Equity Ratio (Total Liability/Networth)		1.83	0.97	6.72
Current Ratio (Current Asset/Current Liability)		1.20	1.31	1.21

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. Constructions 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	No
21. Market information	--
22. Litigations that the firm / promoter involved	--
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

GENERAL REVIEW

The company's performance was satisfactory during the year. The Directors are hopeful that the company shall be able to achieve its target of turnover in the year to come. The future of the company seems to be bright.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U29199DL1999PTC101718
Name of the company	C P SYSTEMS PRIVATE COMPANY
Address of the registered office or of the principal place of business in India of the company	201 Klailash Bhavan 35 Community Centre, Wazir Pur Industrial Area, Delhi - 110052, India
This form is for	Modification of charge
Charge identification number of the modified	10108982
Type of charge	Immovable Property
Particular of charge holder	CIN No.: L65920MH1994PLC080618 HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, India Email ID: RBBform8@hdfcbank.com
Nature of description of the instrument creating or modifying the charge	Memorandum recording past transaction of creation of Mortgage by Delivery of Title Deeds.
Date of instrument Creating the charge	28.09.2011
Amount secured by the charge	Rs. 75.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment Working Capital facility shall be payable on demand Term Loan facility shall be repayable in suitable installments. Margin As may be stipulated by the Bank from time to time. Extent and Operation of the charge The Company created an equitable mortgage by way of deposit of title deeds in respect of its immovable properties as stated under item No.15 as security for the due repayment of Rs. 75.000 Millions by the Company including principal amount of the Facility, interest, liquidated damages, costs, charges and expenses etc. Others NIL
Short particulars of the property charged	Plot no. 67 area measuring 5000 Sq mtrs in Sector Ecotech - XII Greater Noida.
Date of latest modification prior to the present modification	22.03.2011
Particulars of the present modification	The Company created a mortgage by deposit of title deeds in respect of its immovable property being lying and situated at Plot no. 67 area measuring 5000 Sq mtrs in Sector Ecotech - XII Greater Noida as further security for repayment of monies due and payable under credit facilities of Rs.75.000 Millions sanctioned by the Bank to the Company.

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. 56.92
UK Pound	1	Rs. 88.91
Euro	1	Rs. 71.25

INFORMATION DETAILS

Report Prepared by :

BVA

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	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--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		42

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

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.