MIRA INFORM REPORT

Report Date :

19.05.2012

IDENTIFICATION DETAILS

Name :	ANNIK TECHNOLOGY SERVICES PRIVATE LIMITED W.E.F. 26.11.2005

Formerly Known As :	VSI TECHNOLOGY SERVICES PRIVATE LIMITED

Registered Office :	A-16/9, Vasant Vihar, New Delhi – 110057

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	01.09.2005

Com. Reg. No.:	140245

Capital Investment / Paid-up Capital :	Rs. 35.728 Millions

CIN No.: [Company Identification No.]	U72200DL2005PTC140245

TAN No.: [Tax Deduction & Collection Account No.]	DELA17256B

Legal Form :	Private Limited Liability Company

Line of Business :	To develop design, commission and implement specialized software in client server internet and other related technologies.

No. of Employees :	600 (approximately)

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 824372

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is an 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 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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	A-16/9, Vasant Vihar, New Delhi – 110057, India
E-Mail :	Rahul.sahgal@anniksystems.com

Head Office :	515 Udyog Vihar Phase III, Gurgaon – 122001, Haryana, India
Tel. No.:	91-124-4003282 / 4003283 / 4184100 / 3927100
Fax No.:	91-124-4184113

SEZ Unit :	1^st Floor, Block B, King Canyon, ASF Insignia Building, IT/ITES SEZ of M/s Canton Buildwell Pvt. Ltd., Village Gwal Pahari, Gurgaon Faridabad Road, Gurgaon – 122003, Haryana, India Phone: 91-124-3065900/ 3065999 118, Block – 3, White House, Kundan Bagh, Begampet, Hyderabad–500016, Andhra Pradesh, India Phone: 91-40- 40033451/2/3

Overseas Offices:	China Room BC 101 DLSP No.2 building (Kejidasha) Ruanjianyuan Road No.31-33-35 High-Tech Industrial Zone Dalian City, Liaoning Province China 116025 Phone: +86 - 411 - 39707586 Fax: +86 - 411 - 39707587 US Boston, USA Phone: +1 - 603.828.5620 San Francisco Phone: +1 510 421 1225 Poland Annik Sp. z o.o. AL. Jana Pawla II 23 00-854 Warsaw, Poland Tel/fax: + 48 22 653 86 03

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Rahul Sahgal
Designation :	Director
Address :	F-065, Richmond Park, DLF City Phase-IV, Gurgaon-122002, Haryana, India
Date of Birth/Age :	09.03.1967
Date of Appointment :	01.10.2005

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	U74899DL2000PTC107489	Annik Systems Pvt Ltd	Director	01/09/2000	01/09/2000	-	Active	NO
2	U72200DL2005PTC140245	Annik Technology Services Private Limited	Director	19/07/2011	01/10/2005	-	Active	NO

Name :	Mr. Vikas Srivastava
Designation :	Director
Address :	Q-8, Hauz Khas Enclave, New Delhi – 110016, India
Date of Birth/Age :	25.02.1961
Date of Appointment :	01.09.2005

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	U65993DL1992PLC049235	First Circle Financial Services Limited	Director	15/12/1993	15/12/1993	15/01/2008	Active	NO
2	U65999TN2005PLC069447	Easyaccess Financial Services Limited	Director	20/05/2005	20/05/2005	10/01/2008	Active	NO
3	U74140DL2005PTC138641	First Circle Management Services Private Limited	Director	13/07/2005	13/07/2005	-	Active	NO
4	U72900DL2003PLC119786	Encorp E-Service Limited	Director	03/08/2005	03/08/2005	16/10/2007	Active	NO
5	U74210KA2005FTC036584	Rolls-Royce Operations (India) Private Limited	Director	31/08/2005	31/08/2005	01/04/2011	Active	NO
6	U72200DL2005PTC140245	Annik Technology Services Private Limited	Director	01/09/2005	01/09/2005	-	Active	NO
7	U74999DL1997PTC088528	Walsons Services Private Limited	Additional director	09/11/2007	09/11/2007	01/02/2009	Active	NO
8	U65993DL2008PTC178222	Gip Investment Advisors (India) Private Limited	Director	26/08/2009	16/05/2008	-	Active	NO
9	U80302DL2008PTC180281	Laureate Education India Private Limited	Director	30/06/2008	30/06/2008	20/09/2009	Active	NO
10	U51103DL2008PTC180660	Punj Lloyd Delta Renewables Private Limited	Director	09/07/2008	09/07/2008	20/10/2008	Active	NO
11	U74900KL2008PTC022919	Epv Solar India Private Limited	Director	06/08/2008	06/08/2008	-	Active	NO

Name :	Mr. Ranjan Kapur
Designation :	Director
Address :	B-281 Twin Towers, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India
Date of Birth/Age :	25.11.1942
Date of Appointment :	31.12.2005

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	L24100MH1969PLC014336	Pidilite Industries Limited	Director	17/10/2000	17/10/2000	-	Active	NO
2	U74300MH2001PTC134079	Group M Media India Private Limited	Director	29/11/2001	29/11/2001	-	Active	NO
3	U22219MH1956PTC178274	Bates India Private Limited	Director	15/06/2004	15/06/2004	-	Active	NO
4	L32300MH1981PLC023637	Mirc Electronics Limited	Director	23/08/2004	23/08/2004	-	Active	NO
5	U72200DL2004PTC128761	Mindworks Global Media Services Private Limited	Director	23/09/2004	23/09/2004	16/05/2007	Active	NO
6	U92132MH2001NPL132233	Earth Communications Office-India Association	Director	24/09/2004	24/09/2004	-	Active	NO
7	U32300MH2005PTC156928	Tagit (India) Private Limited	Director	21/10/2005	21/10/2005	-	Active	NO
8	U72200DL2005PTC140245	Annik Technology Services Private Limited	Director	31/12/2005	31/12/2005	-	Active	NO
9	U72900DL2006PTC144396	Eon Premedia Private Limited	Director	22/06/2006	22/06/2006	14/01/2011	Active	NO
10	L31909AP1988PLC008652	Mic Electronics Limited	Director	27/12/2006	22/08/2006	05/02/2011	Active	NO
11	L24239MH1944PLC007330	Abbott India Limited	Director	17/04/2007	18/09/2006	-	Active	NO
12	L28992MH1991PLC168235	Hitech Plast Limited	Director	23/09/2006	23/09/2006	-	Active	NO
13	U99999MH1987PLC043940	Nimbus Communications Limited	Director	29/09/2008	06/09/2007	-	Active	NO
14	U74300DL2005PTC134829	Quasar Media Private Limited	Director	30/09/2008	02/11/2007	-	Active	NO
15	U74999DL1996PTC079884	Sercon India Private Limited	Director	18/12/2007	18/12/2007	-	Active	NO
16	U74140MH2008PTC177363	Thinking Kaps Consultancy Private Limited	Director	04/01/2008	04/01/2008	-	Strike off	NO
17	U74993KA1999FTC024916	Ray And Keshavan Design Associates Private Limited	Director	18/09/2008	18/09/2008	-	Active	NO
18	U74900MH2011PTC212449	Global Prayer Desk Private Limited	Director	18/01/2011	18/01/2011	23/12/2011	Active	NO

Name :	Mr. Vasudevan Balakrishnan
Designation :	Director
Address :	L-21, 6^th Main Sector 10, LIC Colony JB Nagar, Bangalore – 560075, Karnataka, India
Date of Birth/Age :	28.08.1959
Date of Appointment :	04.08.2006

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	U72200DL2005PTC140245	Annik Technology Services Private Limited	Director	04/08/2006	04/08/2006	12/07/2011	Active	NO
2	U74999TN1986PTC012592	Scope E-Knowledge Center Private Limited	Nominee director	25/05/2007	25/05/2007	-	Active	NO
3	U72200TN2007PTC063427	Quatrro Knowledge Solutions Private Limited	Director	08/11/2008	14/02/2008	-	Amalgamated	NO
4	U72900DL2007PTC169926	Quatrro Fpo Solutions Private Limited	Director	29/09/2008	27/08/2008	-	Active	NO

Name :	Mr. Raman Roy
Designation :	Nominee Director
Address :	L-1/9, Hauz Khas Enclave, New Delhi – 110016, India
Date of Birth/Age :	09.10.1957
Date of Appointment :	31.12.2005

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	U74899DL1995PTC066300	Dhruva Estates Private Limited	Director	30/11/2002	30/11/2002	-	Active	NO
2	U72900DL2005PTC139980	Quatrro Global Services Private Limited	Managing director	25/08/2005	25/08/2005	-	Active	NO
3	U72200DL2005PTC140245	Annik Technology Services Private Limited	Nominee director	31/12/2005	31/12/2005	12/07/2011	Active	NO
4	U93091DL2006PTC152259	Quatrro Analytics And Management Services Private Limited	Director	21/08/2006	21/08/2006	08/01/2008	Active	NO
5	U72300DL2006PTC153130	John Keells Bpo Solutions India Private Limited	Director	05/09/2006	05/09/2006	08/01/2008	Active	NO
6	U74140DL2006PTC155598	Quatrro Mortgage Solutions Private Limited	Director	17/11/2006	17/11/2006	31/01/2008	Active	NO
7	U74120DL2007PTC157411	Quatrro Legal Solutions Private Limited	Director	04/01/2007	04/01/2007	08/01/2008	Active	NO
8	U74140DL2005PTC142860	Indian Angel Network Services Private Limited	Director	27/02/2007	27/02/2007	-	Active	NO
9	U72200TN2007PTC063427	Quatrro Knowledge Solutions Private Limited	Additional director	14/05/2007	14/05/2007	15/02/2008	Amalgamated	NO
10	U74999TN1986PTC012592	Scope E-Knowledge Center Private Limited	Nominee director	25/05/2007	25/05/2007	-	Active	NO
11	U72900DL2007PTC169926	Quatrro Fpo Solutions Private Limited	Director	26/10/2007	26/10/2007	11/02/2008	Active	NO
12	U74120DL2008NPL182363	Data Security Council Of India	Director	23/09/2011	26/08/2011	-	Active	NO

Name :	Mr. Raj Dutta
Designation :	Alternate Director
Address :	1-1/18, IInd Floor, Hauz Khas Enclave, New Delhi – 110016, India
Date of Birth/Age :	16.10.1961
Date of Appointment :	20.10.2008

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	U72900DL2005PTC139980	Quatrro Global Services Private Limited	Director	25/08/2005	25/08/2005	-	Active	NO
2	U74899DL2006PTC144543	Wavespree Information Security Services Private Limited	Director	09/01/2006	09/01/2006	-	Strike off	NO
3	U93091DL2006PTC152259	Quatrro Analytics And Management Services Private Limited	Director	21/08/2006	21/08/2006	08/01/2008	Active	NO
4	U72300DL2006PTC153130	John Keells Bpo Solutions India Private Limited	Director	05/09/2006	05/09/2006	08/01/2008	Active	NO
5	U74140DL2006PTC155598	Quatrro Mortgage Solutions Private Limited	Director	17/11/2006	17/11/2006	31/01/2008	Active	NO
6	U74120DL2007PTC157411	Quatrro Legal Solutions Private Limited	Director	04/01/2007	04/01/2007	08/01/2008	Active	NO
7	U72200TN2007PTC063427	Quatrro Knowledge Solutions Private Limited	Director	09/05/2007	09/05/2007	15/02/2008	Amalgamated	NO
8	U74999TN1986PTC012592	Scope E-Knowledge Center Private Limited	Nominee director	25/05/2007	25/05/2007	18/01/2008	Active	NO
9	U72900DL2007PTC169926	Quatrro Fpo Solutions Private Limited	Director	26/10/2007	26/10/2007	11/02/2008	Active	NO
10	U72200DL2005PTC140245	Annik Technology Services Private Limited	Alternate director	20/10/2008	20/10/2008	12/07/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders		No. of Shares

Vikas Srivastava		3551895
Rahul Sahgal		19917374
Ashish Dhawan		6215824
Vinay Mittal		1752992
Vikas Srivastava (HUF)		4293970
Ranjan Kapoor		150000
Total		35882055

AS ON 30.09.2011

Category	Percentage
Directors or relatives of Directors	78.00
Other top fifty shareholders	22.00
Total	100.00

BUSINESS DETAILS

Line of Business :

To develop design, commission and implement specialized software in client server internet and other related technologies.

GENERAL INFORMATION

No. of Employees :

600 (approximately)

Bankers :

· State Bank of India, Commercial Branch, 6^th Floor, Palm Court, Mehrauli, Gurgaon Road, Gurgaon – 122002, Haryana, India

· Citi Bank NA, New Delhi

· ABN Amro Bank NV, Vatika First India place, MG Road, Gurgaon – 122002, Haryana, India

Facilities :

SECURED LOAN	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010

Bank Loan	5.164	2.012
Finance Lease Obligation	0.000	0.320

TOTAL	5.164	2.332


Banking Relations :	--

Auditors :
Name :	BSR AND CO Chartered Accountant
Address :	Building No. 10, 8^th Floor, Tower B, DLF Cyber City Phase-II, Gurgaon – 122002, Haryana, India
Tel. No.:	91-124-2549191
Fax No.:	91-124-2549101

Associates :	· Quatrro BPO Solutions Private Limited · Quatrro Analytics and Management Services Private Limited

Subsidiaries :	· Annik Inc, USA · Annik Sp. Z.o.o., Poland · Agile Information Technology Consultancy LLC · Dalian Annik Consultancy Services Limited Company

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

50,000,000	Equity Shares	Rs.1/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

35,728,610	Equity Shares	Rs.1/- each	Rs. 35.728 Millions

Note – Of the above 150,000 equity shares of Rs. 1 each are allotted as fully paid up under employee stock option plan.

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

50,000,000	Equity Shares	Rs.1/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

35,882,055	Equity Shares	Rs.1/- each	Rs. 35.882 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		35.729	35.579	35.579
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		170.364	142.212	96.043
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		206.093	177.791	131.622
LOAN FUNDS
1] Secured Loans		5.164	2.332	5.769
2] Unsecured Loans		0.000	0.000	1.365
TOTAL BORROWING		5.164	2.332	7.134
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		211.257	180.123	138.756

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		30.084	19.841	25.884
Capital work-in-progress		2.171	0.000	0.000

INVESTMENT		7.717	1.079	0.996
DEFERREX TAX ASSETS		9.436	7.768	7.376

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	120.093	70.637	48.048
	Cash & Bank Balances	71.752	88.974	63.278
	Other Current Assets	4.560	2.854	2.178
	Loans & Advances	51.394	38.783	31.365
Total Current Assets		247.799	201.248	144.869
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	59.358	31.862	22.055
	Other Current Liabilities	10.492	7.561	6.275
	Provisions	16.100	10.390	12.039
Total Current Liabilities		85.950	49.813	40.369
Net Current Assets		161.849	151.435	104.500

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		211.257	180.123	138.756

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	528.158	391.068	336.195
		Other Income	7.499	2.461	4.238
		TOTAL	535.657	393.529	340.433

Less	EXPENSES
		TOTAL	509.676	348.822	286.339

	PROFIT BEFORE TAX		25.981	44.706	54.093

Less	TAX		(0.429)	(1.463)	1.722

	PROFIT AFTER TAX		26.410	46.169	52.371

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		126.489	80.319	27.948

	BALANCE CARRIED TO THE B/S		152.899	126.488	80.319

	EARNINGS IN FOREIGN CURRENCY
		Income from Services	525.411	387.952	329.695
	TOTAL EARNINGS		525.411	387.952	329.695

	IMPORTS
		Capital Goods	0.742	1.840	2.570
	TOTAL IMPORTS		0.742	1.840	2.570

	Earnings Per Share (Rs.)		0.74	1.30	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.93	11.73	15.38

Net Profit Margin (PBT/Sales)	(%)	4.91	11.43	16.08

Return on Total Assets (PBT/Total Assets}	(%)	9.34	20.22	31.67

Return on Investment (ROI) (PBT/Networth)		0.12	0.25	0.41

Debt Equity Ratio (Total Liability/Networth)		0.44	0.29	0.36

Current Ratio (Current Asset/Current Liability)		2.88	4.04	3.58

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	Yes
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)	--
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

Fixed Assets

· Leasehold Improvements

· Furniture and Fixtures

· Computer and Equipment

· Leased Assets

· Vehicles

· Computer Software

Corporate identity number of the company	U72200DL2005PTC140245
Name of the company	ANNIK TECHNOLOGY SERVICES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	A-16/9, Vasant Vihar, New Delhi – 110057, India
This form is for	Creation of charge
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	State Bank of India, Commercial Branch, 6^th Floor, Palm Court, Mehrauli, Gurgaon Road, Gurgaon – 122002, Haryana, India sanjuprofessional@gmail.com
Nature of instrument creating charge	C-2 ( Agreement of Hypothecation of Goods & Assets) C-5( Letter regarding the grant of individual limits within the overall limit )
Date of instrument Creating the charge	19.08.2011
Amount secured by the charge	Rs. 50.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base rate+3.00%, present effective rate being 12.50%p.a. or such other rate(s) specified by the bank from time to time . Terms of Repayment on demand Margin `Book-debts -40%( Cover period -65 days ) Extent and Operation of the charge First charge on entire current assets Others Nil
Short particulars of the property charged	First charge on entire current assets of the company including stock of raw-material /stores /spares consumables , stocks in process , finished goods including goods in transit and all the book-debts / receivables of the company both present & future . EM over residential apartment situated at F-65, Richmond Park, DLF City-iv, Gurgaon, Haryana-122002. admeasuring area 2081 sq. ft in the name of Mr. Rahul Sahgal and Mrs. Mona Sahgal.

News

Rudy Nadilo to head Annik’s Global Research Practice

Annik Technology Services Pvt. Ltd, the leading global research technology firm based in New Delhi, India has made Rudy Nadilo Senior Partner heading the Global Research Practice.

The former CEO of Greenfield Online, Mr. Nadilo has been with Annik since April 2010. Based in the Annik Portsmouth NH office, the company has seen tremendous growth during his tenure on Business Development activities around the globe.

John Bird has been made Partner, Global Research Practice and since joining Annik in early 2011, has added much value in acquiring new clients, retaining the existing ones, and supporting global business development initiatives during his tenure.

“Both Mr. Nadilo and Mr. Bird have brought in wealth of management capabilities and had been instrumental in implementing worldwide initiatives to expand our global footprint.” said Rahul Sahgal, CEO of Annik.

Annik’s Channel Partner Scorecard Model helps Vendors look beyond Channel Satisfaction to improve their performance

India channel partners are constantly aligning their business model to suit the changing requirements of customers and vendors. Vendors began investing a fair amount in training initiatives as their channel partners moved up from the “box pushing” role. Like any other investment, vendors need active management to ensure maximum return. A recent Annik study reveals that IT services are amongst the fastest growing revenue area for channel partners. According to the study, over 40% of these Indian Channel Partners are already offering software application solutions while 25% can be categorized as system integrators or independent software vendors. There is considerable demand for software-as-a-service (SaaS) which is adding fuel to channels’ revenue growth.

Over 35% of Channel Partners expressed difficulty in indentifying and marketing to new customers as their top business challenge. “While Vendors count their investment, Channel Partners also look towards effective support from Vendors to push their products/solutions” comments Partha Sarathi Sengupta, Senior Project Director at Annik Technology Services.

Annik Technology Services has developed the Channel Performance Scorecard Model with the following marketing objectives:

• Align different channel program to improve channel performance
• Synchronizing the needs of vendors and partners
• Develop effective channel strategies

“Channel measurement systems will only be truly effective if what you are measuring has an overall impact on improving vendor partner business relationship” opines Mr. Sengupta.

According to the Annik study, nearly 50% of Channel partners say there is less coordination with vendor marketing representatives in cooperative selling. Successful channel strategies provide clear direction on which channel to exploit to target specific segments. Annik has developed the performance scorecard model as a four step process. The process starts with development of key metrics and building an analytics database. Channel partners are then segmented according to their business model. Finally, the performance scorecard is prepared for each segment.

“This is a dynamic process where periodic tracking of the business model gives granular insights. This provides reliable indicators identifying which partners are expanding, declining or static and helps reformation of clusters” adds Mr. Sengupta.

Annik also defines the next step of performance evaluation. “The objective of the whole exercise is to improve the vendor partner relationship and to improve performance” says Dinesh Batra, Senior Manager at Annik Technology Services. “We not only measure how much channels like the partnership in terms of a satisfaction score, but we also assess how much they want to do in terms of commitment and what they actually do in terms of engagement” adds Mr. Batra. Many of these channel partners are their competitor’s best partners, therefore a shift in their mind share would result in tremendous gains. A strong negative impact can be seen as a risk area which might lead to a decrease in the engagement score, while a strong positive impact can be associated with the opportunity to increase engagement. Identifying drivers that have a strong impact on engagement assist vendors in identifying and prioritizing next steps and actions.

Annik Technology Services Pvt Limited successfully implements Credit Management System (CMS) at National Bank of Fujairah

Annik Technology Services Private Limited has announced the successful implementation of its Credit Management System (CMS) solution at the National Bank of Fujairah (NBF). With CMS, the Bank is able to automate the credit application process end-to-end so as to provide faster turnaround times and provide better service to clients.

Incorporated in 1982, NBF is a full services corporate bank with a strong background in wholesale banking and trade finance, and leverages its extensive banking experience and deep insight of the UAE to help clients achieve their business goals.

Rahul Sahgal, CEO of Annik, said that the successful implementation of the CMS platform has provided NBF with the flexibility, scalability, security and performance capabilities to enhance service delivery and bring more innovative products and services to market.

“The successful go-live with one of the established banks in the region is a validation of our technical capability and a proof of our strong commitment to assist our clients in the region.”

Sutanu Gupta, Director, Business Solutions at Annik, said: “We position our CMS at the heart of the Credit Life cycle management and credit risk management, which is why this implementation was natural and important to us.”

Annik’s partnership with NBF is in line with its strategy of strengthening its footprint in the Middle East region in the Financial Services space. Last year, Annik concluded a partnership agreement with Murex, the leading Capital Market, Treasury and Risk Management platform for providing consultants in various Murex implementations in the region and has already deployed Murex-trained resources in a number of such implementations.

T.N. Sekhar, NBF’s Chief Operations Officer, said that CMS will help the Bank reduce turnaround time for its credit decisions and enhance the effectiveness of its credit underwriting and portfolio risk management: “By automating NBF’s credit process from origination to approval and subsequently into the documentation and limit handling process, Annik has provided NBF with an integrated platform that will allow us to scale up the refinement of our credit process as and when required.”

Vince Cook, NBF’s Chief Executive Officer, said: “Differentiation in service is an important part of NBF’s success.

“In Annik, we found a partner that was able to use its understanding of the financial sector and technical expertise to help NBF improve a fundamental part of its business. I would like to thank Annik for contributing towards the Bank’s goal of becoming a more productive and customer-oriented organisation.”

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.54.87
UK Pound	1	Rs.86.46
Euro	1	Rs.69.48

INFORMATION DETAILS

Information Gathered by :	--

Report Prepared by :	NLM

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	YES
--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	-

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.