MIRA INFORM REPORT

Report Date :

07.05.2012

IDENTIFICATION DETAILS

Name :	Exicom Tele - Systems Limited (w.e.f. 11.08.2008)
Formerly Known As :	HIMACHAL EXICOM COMMUNICATIONS LIMITED
Registered Office :	8, electronics Complex, Chambaghat, District Solan – 173 213, Himachal Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.05.1994
Com. Reg. No.:	06-14541
Capital Investment / Paid-up Capital :	Rs. 42.800 Millions
CIN No.: [Company Identification No.]	U64203HP1994PLC014541
Legal Form :	A Closely held Public Limited Liability Company
Line of Business :	Distributor of Telecommunication and Power Supply Equipments.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1900000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has incurred some losses in the correct year 2011. However, Trade relations are reported as fair. Business is active payments are reported to be usually correct and as per commitments. The company considered for business dealings with some caution.

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 / Manufacturing Facilities :	8, electronics Complex, Chambaghat, District Solan – 173 213, Himachal Pradesh, India
Tel. No.:	91-1792- 230947 / 230948 / 231260 / 230497
Fax No.:	91-1792- 231255
E-Mail :	jyotsana.choudhary@exicom.in factory.solan@exicom.in
Website :	www.exicomtelesystems.in
Corporate Office :	8, Commercial Complex, Masjid Moth, Greater Kailash II, New Delhi-110048, India
Tel. No.:	91-11-3088 2624 / 3068 2624
Fax No.:	91-11-3068 9013
E-Mail :	contact@exicom.in
Research & Development :	D-180, Okhla Industrial Area, Phase – I, New Delhi - 110 020, India
Tel. No.:	91-11-26810138
Fax No.:	91-11-26810137
E-Mail :	R&D@exicom.in

DIRECTORS

As on 30.09.2011

Name :

Mr. Anant Nahata

Designation :

Director

Address :

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

Date of Birth/Age :

04.11.1983

Date of Appointment :

04.06.2008

DIN No.:

02216037

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	U64203HP1994PLC014541	EXICOM TELE-SYSTEMS LIMITED	Managing director	1/08/2011	4/06/2008	-	Active	NO
2	U32204DL1996PTC184912	SATELLITE FINANCE PRIVATE LIMITED	Director	4/07/2008	4/07/2008	-	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	4/02/2012	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	1/04/2010	1/04/2010	27/08/2011	Active	NO
9	U51909PB2010PTC033761	INFOTEL INFOCOMM ENTERPRISES PRIVATE LIMITED	Director	1/04/2010	1/04/2010	-	Active	NO
10	U51909PB2010PTC033770	NEXG VENTURES INDIA PRIVATE LIMITED	Director	5/04/2010	5/04/2010	19/01/2012	Active	NO
11	U93000DL2010PTC200097	DIGIVIVE SERVICES PRIVATE LIMITED	Director	10/04/2010	10/04/2010	7/02/2011	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

Name :

Mr. Brij Behari Tandon

Designation :

Director

Address :

J-238, 1^st Floor, Saket, New Delhi – 110 017, India

Date of Birth/Age :

30.06.1941

Date of Appointment :

12.12.2008

DIN No.:

00740511

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	U91990WB1993GAP059030	AMBUJA CEMENT FOUNDATION	Director	20/07/2006	20/07/2006	-	Active	NO
2	L24129AP1976PLC001983	NAGARJUNA FERTILIZERS AND CHEMICALS LIMITED	Nominee director	27/10/2006	27/10/2006	10/01/2011	Amalgamated	NO
3	L40100GJ1996PLC030533	ADANI POWER LIMITED	Director	30/07/2007	4/01/2007	-	Active	NO
4	L74899DL1995PLC073281	PRECISION PIPES AND PROFILES COMPANY LIMITED	Director	12/01/2007	12/01/2007	-	Active	NO
5	L27106HP1985PLC006378	COSMO FERRITES LIMITED	Director	25/07/2007	25/01/2007	25/02/2010	Active	NO
6	U45208PB2007PLC030942	ABHISHEK GLOBAL VENTURES LIMITED	Director	21/07/2008	5/05/2007	16/03/2009	Amalgamated	NO
7	L01132WB1919PLC003334	BIRLA CORPORATION LIMITED	Director	30/05/2007	30/05/2007	-	Active	NO
8	L24297WB1978PLC031539	ORIENTAL CARBON AND CHEMICALS LIMITED	Director	24/07/2009	27/07/2007	-	Active	NO
9	L40101HP1994PLC015483	JAIPRAKASH POWER VENTURES LIMITED	Director	6/08/2008	29/10/2007	-	Active	NO
10	L15249UP1933PLC000511	DHAMPUR SUGAR MILLS LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
11	U72300DL2007PTC167902	SMART DIGIVISION PRIVATE LIMITED	Director	26/12/2008	19/02/2008	8/04/2011	Active	NO
12	L17119DN1990PLC000091	FILATEX INDIA LTD(TR.CO.FROM DELHI)	Director	30/09/2008	12/04/2008	-	Active	NO
13	U36991HP1995PLC031163	JAIPRAKASH POWER VENTURES LIMITED	Director	29/07/2009	26/04/2008	14/11/2009	Amalgamated	NO
14	L65999DL1984PLC019465	VIKAS GLOBALONE LIMITED	Director	6/12/2008	25/07/2008	-	Active	NO
15	L74899DL1983PLC014942	BHUSHAN STEEL LIMITED	Director	26/09/2009	23/09/2008	-	Active	NO
16	U15421AP1994PLC019013	SAGAR SUGARS AND ALLIED PRODUCTS LIMITED	Director	30/09/2008	30/09/2008	16/12/2008	Active	NO
17	L65910DL1986PLC023129	V L S FINANCE LIMITED	Director	31/08/2009	22/10/2008	-	Active	NO
18	U64203HP1994PLC014541	EXICOM TELE-SYSTEMS LIMITED	Director	7/09/2009	12/12/2008	-	Active	NO
19	U51503DL1986PTC023886	AMBIENCE PRIVATE LIMITED	Director	30/09/2010	11/09/2009	-	Active	NO
20	U31200UP2006PLC031982	LANCO ANPARA POWER LIMITED	Director	24/08/2010	13/10/2009	-	Active	NO
21	L45203UP2007PLC033119	JAYPEE INFRATECH LIMITED	Director	21/09/2010	16/11/2009	-	Active	NO
22	U10102DL1997PLC085837	ACB (INDIA) LIMITED	Director	30/09/2011	28/03/2011	-	Active	NO
23	L28991PN1961PLC139151	SCHRADER DUNCAN LIMITED	Additional director	13/04/2012	13/04/2012	-	Active	NO

Name :

Mr. Ashok Jhunjhunwala

Designation :

Director

Address :

C2-2-5, Third Loop Road, IIT Campus, IIT, Madras, Chennai – 600036, Tamilnadu, India

Date of Birth/Age :

22.06.1953

Date of Appointment :

30.12.2008

DIN No.:

00417944

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
1	L72100KA1989PLC014226	SASKEN COMMUNICATION TECHNOLOGIES LIMITED	Director	22/11/2000	22/11/2000	-	Active
2	U72200DL2000PLC184006	JATAAYU SOFTWARE LIMITED	Director	4/05/2001	4/05/2001	14/12/2007	Amalgamated
3	L65993TN1993PLC024142	POLARIS FINANCIAL TECHNOLOGY LIMITED	Director	16/06/2001	16/06/2001	-	Active
4	U64202TN2000PTC044818	N-LOGUE COMMUNICATIONS PRIVATE LIMITED	Director	28/12/2001	28/12/2001	1/10/2005	Under liquidation
5	U72900KA2000PLC026980	TEJAS NETWORKS LIMITED	Director	7/03/2002	7/03/2002	-	Active
6	U72900DL2003NPL120999	NATIONAL INTERNET EXCHANGE OF INDIA	Nominee director	19/06/2003	19/06/2003	-	Active
7	U30007TN1994PTC027281	MIDAS COMMUNICATION TECHNOLOGIES PRIVATE LIMITED	Director	18/09/2003	18/09/2003	1/06/2009	Active
8	U74899DL1987GOI002354	NATIONAL RESEARCH DEVELOPMENT CORPORATION	Director	8/02/2005	8/02/2005	8/02/2008	Active
9	U73100TN2006NPL059651	IIT MADRAS RESEARCH PARK	Director	27/04/2006	27/04/2006	-	Active
10	L32309KA1954GOI000787	BHARAT ELECTRONICS LIMITED	Director	19/09/2006	23/05/2006	22/05/2009	Active
11	L67120MH1993PLC074411	3I INFOTECH LIMITED	Director	25/07/2007	19/10/2006	-	Active
12	L64200MH1995PLC086354	TATA TELESERVICES (MAHARASHTRA) LIMITED	Director	24/08/2007	12/04/2007	-	Active
13	U40106AP2007PTC052755	INTELIZON ENERGY PRIVATE LIMITED	Additional director	4/01/2008	4/01/2008	1/08/2008	Active
14	L64200MH1986PLC039266	TATA COMMUNICATIONS LIMITED	Director	7/08/2009	25/10/2008	-	Active
15	U64203HP1994PLC014541	EXICOM TELE-SYSTEMS LIMITED	Director	7/09/2009	31/12/2008	-	Active

Name :

Mr. Himanshu Baid

Designation :

Director

Address :

M-229, Greater Kailash Part –II, New Delhi – 110 048, India

Date of Birth/Age :

08.06.1968

Date of Appointment :

11.11.2008

DIN No.:

00014008

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	L74899DL1995PLC066923	POLY MEDICURE LIMITED	Managing director	1/08/2011	30/03/1995	-	Active	NO
2	U13112RJ1996PLC011668	POLYCURE MARTECH LTD	Director	1/03/1998	1/03/1998	-	Active	NO
3	U25206RJ1999PTC015985	JAI POLYPAN PRIVATE LIMITED	Director	11/11/1999	11/11/1999	-	Active	NO
4	U64203HP1994PLC014541	EXICOM TELE-SYSTEMS LIMITED	Director	7/09/2009	11/11/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Himachal Futuristic	630223
Mahendra Maniklal Nahata,	100
Vinay Bane Chand Maloo	100
Deepak 0.P Malhotra	100
Y.U.S. Choudhary	100
Baburaj E. G.P.Menon	100
Satellite Finance Private Limited, India	377500
Vinsan Brothers Private Limited, India	1749337
NextWave Communications Private Limited, lndia	1522440
Total	4280000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies corporate	99.99
Other	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Distributor of Telecommunication and Power Supply Equipments.

Products :

Generic Names of principal Products of Company

Item Code No. (ITC Code)	Product Description
Switch Mode Rectifier Power Systems	85.04
Electronic Push Button Telephones	85.17
SDH Equipments	85.17
Integrated Telecom Power Unit	85.04
Automatic Voltage Regulator	85.04
Power Supply System - Outdoor	85.17

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Punjab National Bank, CC21, Nehru Enclave, opposite Nehru Place, New Delhi – 110 019

(Rs. in Millions)

Facilities :

Secured Loan	As on 31.03.2011	As on 31.03.2010
Working capital limits from banks	61.341	65.189
Auto loan from bank	0.000	0.268
Total	61.341	65.457
Note: 1. The working capital limits from Banks are secured by way of hypothecation of stocks of raw materials, finished goods and semi finished goods, stores and spares, book debts etc., both present and future. Further the limits are also secured by way of first charge on all the movable and immovable properties, both present and future and corporate guarantee of the Himachal futuristic Communications Limited and personnel guarantee of Shri Mahendra Nahata and Shri Anant Nahata. 2. Auto Joan from Bank secured by way of hypothecation of cars. Installments of auto Joan falling due for repayment within one year of Rs. Nil (Previous year Rs. 0.267 Millions)

Banking Relations :
Auditors :
Name :	Khandelwal Jain and Company Chartered Accountants
Address :	221, Hans Bhavan, Bahadur Shah Zafar Marg, New Delhi – 110 002, India
Tel. No.:	91-1 1- 23370091.23370892 23378795
Fax No.:	91 -1 1 -23378794
E-Mail :	delh@kico.net
Website:	www.kico.com
PAN.:	AAAFK0985C
Subsidiaries :	Eminent Networks Private Limited (CIN: U64200HP2008PTC031223)

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs. 150.000 Millions
15000000	Preference Shares	Rs.10/- each	Rs. 150.000 Millions
	Total		Rs. 300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4280000	Equity Shares	Rs.10/- each	Rs. 42.800 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		42.800	42.800	42.800
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		441.521	519.932	456.887
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		484.321	562.732	499.687
LOAN FUNDS
1] Secured Loans		61.341	65.457	0.664
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		61.341	65.457	0.664
DEFERRED TAX LIABILITIES		0.815	9.203	0.680
TOTAL		546.477	637.392	501.031
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		103.850	111.657	60.191
Capital work-in-progress		1.838	0.058	13.813
INVESTMENT		11.050	11.050	11.050
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	156.146	179.241	151.436
	Sundry Debtors	303.765	375.540	398.915
	Cash & Bank Balances	47.001	37.817	52.686
	Other Current Assets	2.217	1.048	1.215
	Loans & Advances	85.163	136.734	45.285
Total Current Assets		594.292	730.38	649.537
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	143.992	188.505	207.243
	Other Current Liabilities	14.035	23.016	22.498
	Provisions	6.526	4.232	3.819
Total Current Liabilities		164.553	215.753	233.56
Net Current Assets		429.739	514.627	415.977
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		546.477	637.392	501.031

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	550.106	1025.350	1049.210
		Other Income	9.012	12.278	4.255
		TOTAL (A)	559.118	1037.628	1053.465
Less	EXPENSES
		Material consumed/purchased	383.456	668.801	655.148
		Manufacturing and other expenses	179.078	167.809	173.621
		Research and development expenses	37.484	30.172	22.547
		Increase /(Decrease) in stock	16.196	12.599	13.190
		TOTAL (B)	616.214	879.381	864.506
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(57.096)	158.247	188.959
Less	FINANCIAL EXPENSES (D)		9.496	8.606	5.258
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(66.592)	149.641	183.701
Less/ Add	DEPRECIATION/ AMORTISATION (F)		20.173	19.905	10.597
	PROFIT BEFORE TAX (E-F) (G)		(86.765)	129.736	173.104
Less	TAX (I)		(8.354)	66.691	60.134
	PROFIT AFTER TAX (G-I) (J)		(78.411)	63.045	112.970
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		486.954	423.909	310.939
	BALANCE CARRIED TO THE B/S		408.543	486.954	423.909
	IMPORTS
		Raw Materials	119.263	220.795	147.034
		Capital Goods	0.857	4.383	0.714
	TOTAL IMPORTS		120.120	225.178	147.748
	Earnings Per Share (Rs.)		(18.32)	14.73	26.39

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(14.02)	6.07	10.72
Net Profit Margin (PBT/Sales)	(%)	(15.77)	12.65	16.49
Return on Total Assets (PBT/Total Assets}	(%)	(14.59)	17.76	26.65
Return on Investment (ROI) (PBT/Networth)		(0.17)	0.23	0.34
Debt Equity Ratio (Total Liability/Networth)		0.33	0.38	0.46
Current Ratio (Current Asset/Current Liability)		3.61	3.38	2.78

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	No
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	Yes
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

REVIEW OF OUERATIONS

The year under review was second consecutive tough year for the company with slow demand of passive infrastructure products. Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL), the two largest procurement agencies for company's product viz SMPS Power Plants, floated tender for a very less quantity during the financial year 2010-2011 in comparison to the last year. The ongoing 2G investigation may be one of the reasons for slowdown in procurements by these agencies. Private telecom operators also adopted a go slow approach as far as infrastructure roll out is concerned.

With these adverse business scenarios, the company has achieved sales of Rs. 598.100 Millions and incurred a net loss of Rs. 78.400 Millions.

During the year under review, the Company has designed and developed Hybrid Solar Power System and Telecom Tower Management Systems. Supply of Hybrid Solar Power System was also made to VlOM Networks.

Customer support is the key area of the Company, where the company is making capital investment by way of modernising existing infrastructure to minimise the down time of client's equipment. In view of above, the Director santicipate better performance in the coming years.

CURRENT YEAR

To meet stiff competition and to enlarge the existing customer base, emphasis is being given for introduction of new products like Hybrid Solar Power Systems and Telecom Tower Management Systems, expanding the marketing base, modernizing / redesigning the existing products and to improve customer support services. We are also concentrating to enter into the business with PSUs and export market. With these developments, the Company is hopeful of capturing a larger share of the market.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U64203HP1994PLC014541
Name of the company	EXICOM TELE-SYSTEMS LIMITED
Address of the registered office or of the principal place of business in India of the company	8, electronics Complex, Chambaghat, District Solan – 173 213, Himachal Pradesh, India Email: jyotsana.choudhary@exicom.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10206063
Type of charge	· Immovable property · Book debts · Movable property (not being pledge)
Particular of charge holder	Punjab National Bank, CC21, Nehru Enclave, opposite Nehru Place, New Delhi – 110 019 Email; pnbnehru@yahoo.com
Nature of instrument creating charge	Letters regarding extension of mortgage
Date of instrument Creating the charge	26.02.2010
Amount secured by the charge	Rs. 400.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As Per Sanction Terms Terms of Repayment On Demand Margin As Per Sanction Terms Extent and Operation of the charge The charge operates as security as pari passu first charge amongst consortium members Others Above is to secure fund and non fund based limits aggregating Rs.. 400.000 Millions i.e. Fund based Rs. 100.000 Millions and non fund based Rs. 300.000 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	The fund and non fund based limits aggregating Rs. 400.000 Millions (i.e. Fund based Rs. 100.000 Millions and non fund based Rs. 300.000 Millions) is collaterally secured by equitable mortgage by re - deposit of title deeds of imm properties situated in industrial area chambaghat and at mauja basal patti kather, pargana sumana basal, tehsil and distt. Solan (h.p.)

Fixed assets:-

· Land

· Building

· Computers

· Vehicles

· Mould and Dies

· Plant and Machinery

· Computer

· Office Equipments

PRESS RELEASES

COMPANY PROFILE

The is an Indian Company set up in 1994 in collaboration with Exicom Ltd., Australia, a leading manufacturer of SMPS based Power Plants for telecom applications.

Established as the first manufacturer of complete range of Power Plants in India , Exicom has always maintained its lead and currently has ~70% market share of the BSNL and MTNL requirement. Exicom Products have been specially designed and engineered to meet harsh climatic and power environment prevalent in India and meet stringent standards set by Telecommunications Engineering Centre (TEC), technology wing of Indian Department of Telecommunications (DOT).

Exicom has recently diversified its product portfolio and has developed energy efficient, cost effective Passive Infrastructure solutions.  It has introduced modular, energy efficient telecom shelters with free-cooling arrangement minimizing the need of power consuming conventional air-conditioners.   Combining the strength of existing SMPS power plants with conventional Power Interface Unit features, an integrated AC/DC power plant has been developed which is cheaper, has better space utilization, and is more energy efficient compared to the solutions currently being used by mobile telecom operators.

Exicom also provides turn- key solutions for network implementation which offers concept to completion services ranging from system and program planning, network engineering & design, procurement & supplies, installation, system integration and commissioning. Further, Exicom is continuing its endeavor to introduce state-of-the art telecom products and is aggressively working to bring full family of microwave radios under its product portfolio. As per current plans, Exicom proposes to introduce such products on commercial scale in 2009-2010 after extensive research and field trials in the Indian market.

With a mission to provide world class, low cost, telecom infrastructure products keeping focus on energy efficiency, precision, quality and customer support, Exicom aspires to be the most preferred brand in Telecom Infrastructure space and attain 25% market share by 2010-11.

COMPANY PROFILE

The commenced its business activities in 1995 to meet the power requirements of state run telcos - Bharat Sanchar Nigam Ltd. (BSNL) and Mahanagar Telephone Nigam Ltd. (MTNL). It has worked in close association with Telecom Engineering Centre (TEC) to draw specifications and design products to suit Indian climatic and power environment. Company has maintained its leadership in this market segment and caters to 70 % market share.

The Company has also supplied Telecom Power Products to all Global Telecom majors like Nokia, Siemens, Ericsson, Alcatel, Lucent Technologies, Nortel, Huawei and Indian telecom majors like ITI, BEL, HFCL HTL for their telecom infrastructure projects in India.

Other customers include Indian Railways, Railtel, Oil Companies and private Telecom Operators including Airtel, Vodafone, Idea,Reliance, HFCL Infotel & Tata Indicom.

The Company has also exported its product to neighboring countries like Nepal and Middle East countries like Oman and our products are well appreciated in these markets.

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.53.34
UK Pound	1	Rs.86.09
Euro	1	Rs.69.36

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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		29

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.