BUSINESS INFORMATION REPORT

1. Summary Information

		Country	India
Company Name	Dawar International Electronics Private Limited	Principal Name 1	Mr. Virendrer Dawar
Status	Satisfactory	Principal Name 2	Mrs. Rashmi Dawar
		Registration #	55-35531
Street Address	No.5/ 5 Jacubpura Road, Near Vaidic Kanya School, Gurgaon – 122001, Haryana, India
Established Date	19.11.2004	SIC Code	--
Telephone#	91-124-6464000/ 4064532	Business Style 1	Trader
Fax #	91-124-2300755/ 4069490	Business Style 2	--
Homepage	--	Product Name 1	Electronic Products
# of employees	About 150	Product Name 2	Electronic IT Range
Paid up capital	Rs.6,820,000/-	Product Name 3	Electronic Home Appliances
Shareholders	Directors or relatives of directors- 100%	Banking	Union Bank of India
Public Limited Corp.	No	Business Period	8 years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	Ba (44)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	68,200,000	Current Liabilities	45,129,000
Inventories	164,532,000	Long-term Liabilities	146,707,000
Fixed Assets	10,073,000	Other Liabilities	5,394,000
Deferred Assets	516,000	Total Liabilities	197,230,000
Invest& other Assets	0,000	Retained Earnings	30,275,000
		Net Worth	46,091,000
Total Assets	243,321,000	Total Liab. & Equity	243,321,000
Total Assets (Previous Year)	192,919,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	807,582,000	Net Profit	2,981,000
Sales(Previous yr)	530,843,000	Net Profit(Prev.yr)	1,974,000

MIRA INFORM REPORT

Report Date :

29.03.2012

IDENTIFICATION DETAILS

Name :	DAWAR INTERNATIONAL ELECTRONICS PRIVATE LIMITED
Registered Office :	No.5/ 5 Jacubpura Road, Near Vaidic Kanya School, Gurgaon – 122001, Haryana
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	19.11.2004
Com. Reg. No.:	55-35531
Capital Investment / Paid-up Capital :	Rs.6.820 Millions
CIN No.: [Company Identification No.]	U32109HR2004PTC035531
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Electronic Products, Electronic IT Range , Electronic Home Appliances etc.
No. of Employees :	About 150

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 180000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well 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 term 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 :	No.5/ 5 Jacubpura Road, Near Vaidic Kanya School, Gurgaon – 122001, Haryana, India
Tel. No.:	91- 124- 5394703/ 6330655/ 6303655/ 6320755/ 6464000/ 4064532
Mobile No.:	91- 9811011813 [Mr. Varinder Dawar]
Fax No.:	91- 124- 2300755/ 4069490
E-Mail :	dawar_inter@mantraonline.com tarunkumarapt@yahoo.com mukesh_agarwal3@rediffmail.com
Area :	7500 sq. ft.
Location :	Owned

DIRECTORS

(AS ON 29.09.2011)

Name :	Mr. Virender Dawar
Designation :	Director
Address :	House No.77, Sector – 7, Urban Estate, Gurgaon, Haryana, India
Date of Birth/Age :	16.07.1966
Qualification :	Engineer
Date of Appointment :	19.11.2004
DIN No.:	00391686
Name :	Mrs. Rashmi Dawar
Designation :	Director
Address :	House No.77, Sector – 7, Urban Estate, Gurgaon, Haryana, India
Date of Birth/Age :	09.10.1968
Qualification :	Graduate
Date of Appointment :	19.11.2004
DIN No.:	01735528
Name :	Mr. Harit Arya
Designation :	Director
Address :	266/ 4, Ram Nagar, Gurgaon, Haryana, India
Date of Birth/Age :	19.02.1978
Date of Appointment :	15.12.2004
DIN No.:	01735496

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2011)

Names of Shareholders	No. of Shares
Virender Dawar	474900
Rashmi Dawar	50100
Hitender Dawar	55000
Sanjay Sharma	85000
Roop Chand	15000
N. K. Jain	2000
Total	682000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Electronic Products, Electronic IT Range , Electronic Home Appliances etc.
Products :	· Sony Electronic Products · Samsung electronic Products · Nokia Electronics Products · IFB Electronic Products · Multi Brand Electronic Products · Laptop Computers · Electronic Audio Range

GENERAL INFORMATION

No. of Employees :

Above 150

Bankers :

· Union Bank of India

Gurgaon Main Branch, 548/1, Dayanand colony, New Railway Road, Gurgaon – 122001, Haryana, India

· Centurion Bank of Punjab Limited,

472/ 11, Old Railway Road, Gurgaon – 122 001, Haryana, India

· Citi Bank N.A.,

Jeevan Vihar, 3, Sansad Marg, New Delhi – 110 001, India

· ABN Amro Bank

· ICICI Bank

· HDFC Bank Limited

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
HDFC Bank (Secured against Stock, receivable, immovable properties of directors and their relatives personal guarantee of director of the company)	100.208	101.047
Standard Chartered Bank O/D (Secured against purchase from Samsung India Electronics Private Limited and personal guarantee of Director)	15.001	0.000
UBI Loan (Secured against hypothecation of Mahindra D1320)	0.020	0.167
HDFC Bank (Secured against hypothecation of Car Loan)	0.222	0.564
Axis Bank (Secured against bill discounted for purchase from Sony India Private Limited along with immovable property of director and personal guarantee of Director)	12.774	12.510
Total	128.225	114.288
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Directors and Relatives	7.170	0.803
From Others – Banks	11.312	8.963
Total	18.482	9.766

Banking Relations :	--
Financial Institute:	· 3i InfoTech Trusteeship Services Limited 3^rd to 6^th Floor, International InfoTech Park, Tower No. 5, Vashi Railway Station Complex, Vashi, Navi Mumbai- 400703, Maharashtra, India
Auditors :
Name :	APT Associates Chartered Accountants
Address :	B-26, Sagar Apartments, 6, Tilak Marg, New Delhi – 110001, India
Tel No.:	91-11-23386225/ 23386582/ 23386736
Fax No.:	91-11-23389814
PAN No.:	AAEFA4171C
Business Associates:	· Nokia · Sony · Samsung · IFB

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
682000	Equity Shares	Rs.10/- each	Rs.6.820 Millions

NOTE:

(Out of the above 75000 equity shares of Rs.10/- each allotted at a premium of Rs.90/- each during the year)

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		6.820	6.070	5.750
2] Share Application Money		8.996	2.500	5.200
3] Reserves & Surplus		30.275	20.545	15.690
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		46.091	29.115	26.640
LOAN FUNDS
1] Secured Loans		128.225	114.288	116.412
2] Unsecured Loans		18.482	9.767	27.242
TOTAL BORROWING		146.707	124.055	143.654
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		192.798	153.170	170.294
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.073	10.111	11.686
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.516	0.465	0.341
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	164.532	115.161	99.738
	Sundry Debtors	37.187	37.292	29.383
	Cash & Bank Balances	6.237	3.093	8.689
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	24.776	26.783	38.820
Total Current Assets		232.732	182.329	176.630
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	42.237	32.757	12.951
	Other Current Liabilities	2.892	2.669	2.110
	Provisions	5.394	4.323	3.358
Total Current Liabilities		50.523	39.749	18.419
Net Current Assets		182.209	142.580	158.211
MISCELLANEOUS EXPENSES		0.000	0.014	0.056
TOTAL		192.798	153.170	170.294

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	807.582	530.843	422.511
		Other Income	12.276	9.609	15.953
		TOTAL (A)	819.858	540.452	438.464
Less	EXPENSES
		Direct Expenses	775.756	484.662	374.918
		Establishment Expenses	19.190	14.094	12.158
		Operating Expenses	46.162	29.889	25.946
		Selling and Distribution Expenses	5.684	3.186	4.280
		Increased / (Decreased) In Stock	(49.371)	(15.422)	(2.296)
		TOTAL (B)	797.421	516.409	415.006
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		22.437	24.043	23.458
Less	FINANCIAL EXPENSES (D)		16.090	19.091	20.749
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6.347	4.952	2.709
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.909	2.151	1.869
	PROFIT BEFORE TAX (E-F) (G)		4.438	2.801	0.840
Less	TAX (H)		1.457	0.827	0.475
	PROFIT AFTER TAX (G-H) (I)		2.981	1.974	0.365
	Earnings Per Share (Rs.)		4.37	3.25	0.52

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.36	0.37	0.08
Net Profit Margin (PBT/Sales)	(%)	0.55	0.53	0.20
Return on Total Assets (PBT/Total Assets}	(%)	1.83	1.46	0.45
Return on Investment (ROI) (PBT/Networth)		0.10	0.10	0.03
Debt Equity Ratio (Total Liability/Networth)		4.28	5.63	6.08
Current Ratio (Current Asset/Current Liability)		4.61	4.59	9.59

LOCAL AGENCY FURTHER INFORMATION

 FORM 8:

Corporate identity number of the company	U32109HR2004PTC035531
Name of the company	DAWAR INTERNATIONAL ELECTRONICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	5/ 5 Jacubpura Road, Gurgaon – 122 001, Haryana, India mukesh_agarwal3@rediffmail.com
This form is for	Modification of Charge
	10314934
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	Union Bank of India Gurgaon Main Branch, 548/1, Dayanand Colony, New Railway Road, Gurgaon – 122001, Haryana, India nimishdel@gmail.com
Nature of description of the instrument creating or modifying the charge	Composite Hypothecation Deeds
Date of instrument Creating the charge	02/11/2011
Amount secured by the charge	Rs.130.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest on Cash Credit (H) limit shall be charged @ 5.25 % over base rate, presently 16.00 % p. a. with monthly rests or at such other rates as may be prescribed by the bank from time to time. Terms of Repayment Payable on demand. Margin: 25 percent. Extent and Operation of the charge 100 percent.
Short particulars of the property charged	Hypothecation of the followings:- a) The whole of the borrower's moveable goods and assets, both present and future and including but without prejudice to generality of the foregoing words, all stocks of raw materials, work in progress, semi finished goods and finished goods such as Electronic goods and consumer goods etc. wheresoever situate and / or in transit. b) All the present and future book-debts, outstanding, monies receivables, claims, bills, contracts, engagements and securities which are now due and owing. c) All tangible moveable machineries, plant, machinery, fixtures, fittings, other installations, cranes, furniture, computers and other accessories, vehicles together with spares, tools and accessories and all other articles lying on the premises at various places or in transit.
Particulars of the present modification	The Cash Credit (Hypothecation) limit stands enhanced from Rs.100.000 Millions to Rs.130.000 Millions to secure an adhoc cash credit (Hypothecation) limit of Rs.30.000 Millions granted by the bank to the company together with interest, costs, charge, expenses etc. Interest on Adhoc limit shall be charged @ Base Rate + 5.25% + 2 % p. a. with monthly rests or at such other rates as may be prescribed by the bank from time to time. Other terms and conditions remain the same.

FIXED ASSETS:

· Coffee Machine

· Furniture and Fixture

· Generator

· Mobile Phone

· Motor Cycle

· Scooter

· EPABX

· Shop

· Photo Machine

· Auto Ricksaw

· Fax Machine

· Office Equipment

· Water Cooler

· Tata Pick-up

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.50.92
UK Pound	1	Rs.81.21
Euro	1	Rs.67.85

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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		44

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.