1. Summary Information

		Country	India
Company Name	TIRUMALA SEVEN HILLS PRIVATE LIMITED	Principal Name 1	Mr. Rajan Somani
Status	Satisfactory	Principal Name 2	Mr. Varun Khetawat
		Registration #	21-049922
Street Address	40-Strand Road, 3^rd Floor Room No 10, Kolkata – 700 001, West Bengal
Established Date	21.09.1990	SIC Code	--
Telephone#	91-33-30083079	Business Style 1	Dealer
Fax #	91-33-22433700	Business Style 2	Service provider
Homepage	http://www.tirumalasevenhills.com	Product Name 1	Telecommunication Equipments
# of employees	Not Available	Product Name 2	Accessories
Paid up capital	Rs.7,974,000/-	Product Name 3	--
Shareholders	Bodies corporate-45.14% Directors or relatives of directors – 54.86%	Banking	Canara Bank
Public Limited Corp.	No	Business Period	22 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (46)
Related Company
Relation	Country	Company Name	CEO
Associates	--	Jinvani Commercial Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	410,727,000	Current Liabilities	370,399,000
Inventories	102,285,000	Long-term Liabilities	21,008,000
Fixed Assets	13,490,000	Other Liabilities	0.00
Deferred Assets	0.000	Total Liabilities	391,407,000
Invest& other Assets	4,663,000	Retained Earnings	131,784,000
		Net Worth	139,758,000
Total Assets	531,165,000	Total Liab. & Equity	531,165,000
Total Assets (Previous Year)	462,369,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	620,180,000	Net Profit	11,246,000
Sales (Previous Year)	672,050,000	Net Profit (Previous Year)	17,446,000

MIRA INFORM REPORT

Report Date :

10.05.2012

IDENTIFICATION DETAILS

Name :	TIRUMALA SEVEN HILLS PRIVATE LIMITED
Registered Office :	40-Strand Road, 3^rd Floor Room No. 10, Kolkata – 700 001, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.09.1990
Com. Reg. No.:	21-049922
Capital Investment / Paid-up Capital :	Rs. 7.974 Millions
CIN No.: [Company Identification No.]	U31300WB1990PTC049922
Legal Form :	Private Limited Liability Company
Line of Business :	The Principal activities of company deal in telecommunication equipments and Accessories and service provider for such equipments. The company has also the business of installation and maintenance of air conditioner machines.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 560000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory trade. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	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 :	40-Strand Road, 3^rd Floor Room No 10, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22431376/22433788
Fax No.:	91-33-22433700
E-Mail :	poddar.sanjay@gmail.com tirumalacrp_cal@tirumalasevenhills.com
Website :	http://www.tirumalasevenhills.com
Sales Office :	Located At: New Delhi Mumbai Banglore
Corporate HR:	108/1, Anandapur Road, Kolkata – 700 107, West Bengal, India
Tel. No.:	91-3008 1185/30081196
E-Mail :	dulal_ray@tirumalasevenhills.com

DIRECTORS

Name :

Mr. Rajan Somani

Designation :

Director

Address :

137, VIP Road, Kolkata – 700052, West Bengal, India

Date of Appointment :

22.01.2003

DIN No.:

00648455

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	U31300WB1990PTC049922	TIRUMALA SEVEN HILLS PRIVATE LIMITED	Director	22-01-03	22-01-03	-	Active	NO

Name :

Mr. Suresh Kumar Gupta

Designation :

Director

Date of Appointment :

24.12.2002

DIN No.:

00648371

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	U31300WB1990PTC049922	TIRUMALA SEVEN HILLS PRIVATE LIMITED	Director	24-12-02	24-12-02	-	Active	NO

Name :

Mr. Vinod Kumar Khetawat

Designation :

Director

Address :

40 Strand Road, 3^rd floor, Kolkata - 700001, West Bengal

Date of Appointment :

21.09.1990

DIN No.:

00648437

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	U31300WB1990PTC049922	TIRUMALA SEVEN HILLS PRIVATE LIMITED	Director	21-09-90	21-09-90	-	Active	NO
2	U51909WB1995PTC070122	JINVANI COMMERCIAL PRIVATE LIMITED	Director	19-02-05	19-02-05	-	Active	NO
3	U63022WB1985PTC038462	ALOK CONMMERCIAL COMPANY PRIVATE LIMITED	Director	04-07-07	04-07-07	-	Active	NO
4	U74999WB2008PTC127024	ACELINE INFO SOLUTIONS PRIVATE LIMITED	Director	01-07-08	01-07-08	-	Active	NO
5	U70109WB2008PTC128280	APOLINE REALTORS PRIVATE LIMITED	Director	06-08-08	06-08-08	-	Active	NO
6	U72900WB2008PTC129063	UNICE INFO SOLUTIONS PRIVATE LIMITED	Director	04-09-08	04-09-08	-	Active	NO
7	U51909WB2008PTC130868	CATHY COMMERCIAL PRIVATE LIMITED	Director	26-11-08	26-11-08	-	Active	NO
8	U72900WB2008PTC130864	SION INFO TECH PRIVATE LIMITED	Director	26-11-08	26-11-08	-	Active	NO

Name :

Mr. Varun Khetawat

Designation :

Director

Address :

5camac Street Flat No.2 F, 2^nd Floor, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

15.04.1989

Date of Appointment :

01.03.2010

DIN No.:

02177771

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	U72900WB2008PTC129063	UNICE INFO SOLUTIONS PRIVATE LIMITED	Director	04-09-08	04-09-08	-	Active	NO
2	U51909WB2008PTC130868	CATHY COMMERCIAL PRIVATE LIMITED	Director	26-11-08	26-11-08	-	Active	NO
3	U31300WB1990PTC049922	TIRUMALA SEVEN HILLS PVT LTD	Director	01-03-10	01-03-10	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2011

Names of Shareholders	No. of Shares
Vinod Kumar Khetawat	399250
Manisha Khetawat	34700
Varun Khetawat	3500
Jinwani Commercial Private Limited, India	360000
Total	797450

As on 28.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	45.14
Directors or relatives of directors	54.86
Total	100.00

BUSINESS DETAILS

Line of Business :

The Principal activities of company deal in telecommunication equipments and Accessories and service provider for such equipments. The company has also the business of installation and maintenance of air conditioner machines.

GENERAL INFORMATION

Customers:

· Aircel

· Airtel

· Alcatel- Lucent

· Alumas

· Bharat Sanchar Nigam Limited

· Bharati Telenet

· Bharti Telesonic India

· BPL

· Cdot

· COMTEL

· Datacom

· Fibcom

· GAIL

· GTL

· Idea

· Indus Towers

· ITI

· NSN

· PGCIL

· TULIP

No. of Employees :

Not Available

Bankers :

Canara Bank, Chowrinhgee Brach, 7,KYD Street, Kolkata – 700 016, West Bengal, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Canara Bank (Book Overdraft) (Note: Against assignment of stock, debtors and submission of title deeds of certain immovable properties of directors and their associates)	21.008	28.374
Total	21.008	28.374
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Sion Info Tech Private Limited	--	35.217
Total	--	35.217

Banking Relations :	--
Auditors :
Name :	S. Poddar and Company Chartered Accountants
Address :	2 Lal Bazar Street, Room No.201-203, Kolkata – 700007, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	AATFS2603N
Associates:	· Jinvani Commercial Private Limited · Alok Commercial Private Limited · Aceline info solutions Private Limited · Appoline Realtors Private Limited · Cathy Commercial Private Limited · Sion infotech Commercial Private Limited · Unice info solutions Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.10/-each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
797,450	Equity Shares	Rs.10/-each	Rs.7.974 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		7.974	7.975	7.974
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		131.784	121.708	104.267
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		139.758	129.683	112.241
LOAN FUNDS
1] Secured Loans		21.008	28.374	18.427
2] Unsecured Loans		0.000	35.217	0.000
TOTAL BORROWING		21.008	63.591	18.427
DEFERRED TAX LIABILITIES		0.000	0.098	0.058
TOTAL		160.766	193.372	130.726
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		13.490	14.092	9.649
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.663	14.141	19.592
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	102.285	95.387	90.502
	Sundry Debtors	244.574	211.809	165.267
	Cash & Bank Balances	15.564	3.591	5.800
	Other Current Assets	69.694	28.355	31.996
	Loans & Advances	80.895	94.994	62.176
Total Current Assets		513.012	434.136	355.741
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	184.540	110.292	142.056
	Other Current Liabilities	133.802	87.497	36.221
	Provisions	52.057	71.208	75.987
Total Current Liabilities		370.399	268.997	254.264
Net Current Assets		142.613	165.139	101.477
MISCELLANEOUS EXPENSES		0.000	0.000	0.008
TOTAL		160.766	193.372	130.726

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	431.073	672.050	659.266
		Other Income	189.107	143.418	164.336
		TOTAL (A)	620.180	815.468	823.602
Less	EXPENSES
		Purchase and Procuremement expenses	336.914	545.906	503.308
		Administrative an selling Distribution Expenses	259.720	238.545	287.015
		Miscellaneous Expenditure Written Off	0.000	0.008	0.010
		Loss on Sale of Shares	0.913	0.000	0.123
		Loss on Sale of Fixed Asset	0.040	0.000	0.088
		TOTAL (B)	597.587	784.459	790.544
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		22.593	31.009	33.058
Less	FINANCIAL EXPENSES (D)		0.317	0.946	0.308
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		22.276	30.063	32.750
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.559	3.100	2.595
	PROFIT BEFORE TAX (E-F) (G)		18.717	26.963	30.155
Less	TAX (H)		7.471	9.517	11.383
	PROFIT AFTER TAX (G-H) (I)		11.246	17.446	18.772
Less	EARLIER YEAR PROVISION FOR FRINGE BENEFIT TAX CREATED		0.882	0.000	0.068
	EARLIER YEAR PROVISION FOR INCOME TAX CREATED		0.288	0.005	0.095
	PROVISIONS FOR EXCESS PROVISION		0.000	0.000	(0.159)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		101.848	84.407	65.639
	BALANCE CARRIED TO THE B/S		111.924	101.848	84.407
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	19.463	14.799	NA
	TOTAL EARNINGS		19.463	14.799	NA
	IMPORTS
		Purchase	307.905	559.000	NA
	TOTAL IMPORTS		307.905	559.000	NA
	Earnings Per Share (Rs.)		14.10	21.87	23.54

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.81	2.14	2.28
Net Profit Margin (PBT/Sales)	(%)	4.34	4.01	2.57
Return on Total Assets (PBT/Total Assets}	(%)	3.56	6.01	8.26
Return on Investment (ROI) (PBT/Networth)		0.13	0.21	0.27
Debt Equity Ratio (Total Liability/Networth)		2.80	2.56	2.43
Current Ratio (Current Asset/Current Liability)		1.39	1.61	1.40

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	Yes
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	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

Bankers Charges Report as per Registry:

Corporate identity number of the company	U31300WB1990PTC049922
Name of the company	TIRUMALA SEVEN HILLS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	40 Strand Road 3rd Floor Room No. 10, Kolkata -700 001, West Bengal, India
This form is for	Modification of charge
Charge identification number of the modified	80031522
Type of charge	Book Debts Movable Property (not being pledge)
Particular of charge holder	Canara Bank, Chowrinhgee Brach, 7,KYD Street, Kolkata – 700 016, West Bengal, India. Kolk0145@canbank.co.in
Nature of description of the instrument creating or modifying the charge	· Supplemental Common Hypothecation Agreement dated 10.03.2010 · Agreement for opening Inland Irrevocable Letter of Credit dated 10.03.2010 · Counter Indemnity dated 10.03.2010 · Pronote dated 10.03.2010 · Board Resolution date 15.03.2010
Date of instrument Creating the charge	10.03.2010
Amount secured by the charge	Rs.460.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC/ODBD:- BPLR + 1.50 i.e. 13.50% p.a. (presently) with monthly rests. ILC/FLC(DA/DP)/BG Commission :- Usual FOR LC and 3.1% for BG. Terms of Repayment Repayable on demand. Margin OCC/ODBD :- 25% on Stock, 40% on Book debts. ILC/FLC(DA/DP) :- 25% BG :- 10% Extent and Operation of the charge To the extent of the overall limit of Rs. 460.000 Millions excluding interest, commission and other charges. The charge will operate till the limit enjoyed by the borrower company is fully repaid.
Short particulars of the property charged	Hypothecation by way of first charge on entire current assets viz. Stocks of raw materials, semi finished and finished goods, consumable stores and spares etc. and entire receivables of the Borrower, both present and future. Hypothecation by way of first charge of Testing instruments and Tools and other fixed assets, both present and future.
Date of latest modification prior to the present modification	03.02.2009
Particulars of the present modification	By this modification, the overall limit has been enhanced from Rs. 220.000 millions to Rs. 460.000 millions. The break-up is like this:- OCC/ODBD :- Rs. 40.000 millions (enhanced from Rs. 20.000 millions) ILC/FLC(DA/DP) :- Rs. 100.000 millions (enhanced from Rs. 50.000 millions) BG :- Rs. 320.000 millions (enhanced from Rs. 150.000 millions)

Fixed Assets:

• Office Equipment
• Inverter
• Furniture and Fixture
• Vehicles
• Computer
• Printers and Faxes
• Testing Instruments and Tools
• Air Conditioner
• Refrigerator
• Mobile Phone
• Television Set
• Generator
• Electrical Fittings
• Software’s

Contingent Liability:

Liabilities which are material and whose future outcomes cannot be ascertained with reasonable certainty are treated as contingent and disclosed by way of notes to the Accounts.

· Claim against the company not acknowledged as debts:

I. In respect bank of Guarantee executed Rs. 19.855 Millions

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.53.72
UK Pound	1	Rs.86.98
Euro	1	Rs.70.65

INFORMATION DETAILS

Report Prepared by :

VSL

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

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	-

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