MIRA INFORM REPORT

Report Date :

09.10.2012

IDENTIFICATION DETAILS

Name :	TV 18 HOME SHOPPING NETWORK LIMITED (w.e.f. 26.05.2008)
Formerly Known As :	TV 18 HOME SHOPPING NETWORK PRIVATE LIMITED
Registered Office :	503, 504 and 507, 5^th Floor, Mercantile House, 15 Kasturba Gandhi Margh, New Delhi – 110001
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.06.2006
Com. Reg. No.:	55-149705
Capital Investment / Paid-up Capital :	Rs. 50.684 millions
CIN No.: [Company Identification No.]	U93091DL2006PLC149705
PAN No.: [Permanent Account No.]	AACCT4674N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in Broadcasting Services.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 2490000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a subsidiary of ‘TV 18 HSN Holdings Limited, Cyprus’. It is an established company having moderate track. The company has recorded a growth of 25 % in its income earned during 2011 over last year. However, the company has incurred heavy loss during this year, resulting an increase in the accumulated losses. It is a pioneer in virtual retail with leading presence in both 24 hour Home Shopping TV Channel (Home Shop 18) and E Commerce (homeshop18.com) Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	503, 504 and 507, 5^th Floor, Mercantile House, 15 Kasturba Gandhi Margh, New Delhi – 110001, Delhi, India
Tel. No. :	Not Available
Fax No. :	Not Available
E-Mail :	roshni.tandon@network18online.com sachin.gupta@tv18online.com
Website :	http://www.bitwiseinc.com http://www.homeshop18.com
Head Office :	C-3, Sector 3, Noida 201 301, Uttar Pradesh, India
Tel. No.:	91-120-4071839
Corporate Office :	B-2, Kailash Apartment, Lala Lajpat Rai Marg, New Delhi 110 048, India
E-Mail :	anil.srivastava@tv18online.com
Branch Office 1 :	P. No. 15, Express Trade Tower, Film City, Sector 16A, Noida 201 301, Uttar Pradesh, India
Tel. No.:	91-120-4341818/ 3987777
Fax No.:	91-120-4324102
Branch Office 2 :	7^th Floor, FC-24, Sector 16A, Film City, Noida 201 301, Uttar Pradesh, India
Tel. No.:	91-120-4071818
Fax No.:	91-120-4242415

DIRECTORS

As on 03.08.2011

Name :

Mr. Raghav Bahl

Designation :

Director

Address :

E-36, Sector 30, Noida - 201 301, Uttar Pradesh, India

Date of Birth/Age :

02.01.1961

Qualification :

Bachelor's degree in Economics from St. Stephens College and Master's degree in Business Administration from the Delhi University

Date of Appointment :

13.06.2006

DIN No.:

00015280

PAN No.:

AALPB0480G

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L74899DL1993PLC055351	TELEVISION EIGHTEEN INDIA LIMITED	Managing director	01/04/2008	24/09/1993	-	Amalgamated	NO
2	U99999DL2000PLC104757	E-EIGHTEEN.COM LIMITED	Director	28/03/2000	28/03/2000	27/05/2010	Active	NO
3	U00000DL2000PLC107460	INEWS.COM LIMITED	Director	28/08/2000	28/08/2000	12/03/2008	Amalgamated	NO
4	U67120MH1999PLC120771	MONEYCONTROL.DOT COM INDIA LIMITED	Director	30/09/2000	30/09/2000	27/05/2010	Active	NO
5	L65910DL1996PLC076419	NETWORK18 MEDIA & INVESTMENTS LIMITED	Managing director	01/09/2006	10/12/2003	-	Active	NO
6	U74999DL2004PLC124116	SGA NEWS LIMITED	Director	15/01/2004	15/01/2004	18/12/2008	Amalgamated	NO
7	U74899DL1993PLC055410	SETPRO18 DISTRIBUTION LIMITED	Director	30/09/2005	20/05/2005	07/03/2008	Active	NO
8	L74300DL2005PLC137214	TV18 BROADCAST LIMITED	Director	15/07/2006	07/06/2005	-	Active	NO
9	U65993DL2005PTC137195	SRH BROADCAST NEWS HOLDINGS PRIVATE LIMITED	Director	07/06/2005	07/06/2005	-	Amalgamated	NO
10	U51909DL2003PTC123225	B K MEDIA PRIVATE LIMITED	Director	30/09/2011	18/06/2005	-	Active	NO
11	U72200DL2005PTC140322	R B SOFTWARE PRIVATE LIMITED	Director	02/09/2005	02/09/2005	-	Active	NO
12	U72200DL2005PTC140793	R B SOFTECH PRIVATE LIMITED	Director	15/09/2005	15/09/2005	-	Amalgamated	NO
13	U72901DL2006PTC148757	RVT SOFTECH PRIVATE LIMITED	Director	12/05/2006	12/05/2006	-	Active	NO
14	U93091DL2006PLC149705	TV18 HOME SHOPPING NETWORK LIMITED	Director	13/06/2006	13/06/2006	-	Active	NO
15	U65923DL2006PTC149918	RB INVESTMENTS PRIVATE LIMITED.	Director	20/06/2006	20/06/2006	-	Active	NO
16	U65923DL2006PTC149920	VT INVESTMENTS PRIVATE LIMITED	Director	20/06/2006	20/06/2006	-	Amalgamated	NO
17	U65923DL2006PTC149919	INDIA INTERNATIONAL FILM ADVISORS PRIVATE LIMITED	Director	20/06/2006	20/06/2006	27/03/2007	Active	NO
18	U65923DL2006PLC150020	GREYCELLS18 MEDIA LIMITED	Director	22/06/2006	22/06/2006	-	Active	NO
19	U65923DL2006PTC150657	CAPITAL18 FINCAP PRIVATE LIMITED	Director	30/09/2011	07/07/2006	-	Active	NO
20	U65923DL2006PTC150765	RRB HOLDINGS PRIVATE LIMITED	Director	09/07/2006	09/07/2006	-	Amalgamated	NO
21	U65923DL2006PTC150773	RVT INVESTMENTS PRIVATE LIMITED	Director	09/07/2006	09/07/2006	26/08/2008	Amalgamated	NO
22	U72200DL2006PLC150812	WEB18 SOFTWARE SERVICES LIMITED	Director	10/07/2006	10/07/2006	-	Active	NO
23	U92120MH2006PLC164692	NEWSWIRE18 LIMITED	Director	18/09/2006	18/09/2006	-	Active	NO
24	U67120DL2007PTC159247	RVT HOLDINGS PRIVATE LIMITED	Director	13/02/2007	13/02/2007	01/05/2007	Active	NO
25	U67110DL2007PTC159258	RRK HOLDINGS PRIVATE LIMITED	Director	14/02/2007	14/02/2007	-	Active	NO
26	U72300MH2007PTC230424	IFC DISTRIBUTION PRIVATE LIMITED	Director	20/02/2007	20/02/2007	04/07/2011	Active	NO
27	U74899DL1995PTC068036	KEYMAN FINANCIAL SERVICES PRIVATE LIMITED	Director	28/09/2007	26/02/2007	-	Active	NO
28	U72900DL2006PTC235208	TANGERINE DIGITAL ENTERTAINMENT PRIVATE LIMITED	Nominee director	27/02/2007	27/02/2007	03/09/2010	Active	NO
29	U22130DL2007PLC162067	DIGITAL18 MEDIA LIMITED	Director	16/04/2007	16/04/2007	-	Active	NO
30	U74140MH1997PTC107598	AMBIT CAPITAL PRIVATE LIMITED	Director	28/09/2007	30/04/2007	29/02/2008	Active	NO
31	U65923DL2007PTC164599	RVT FINCAP PRIVATE LIMITED	Director	11/06/2007	11/06/2007	-	Amalgamated	NO
32	U65923DL2007PTC164598	IBN LOKMAT NEWS PRIVATE LIMITED	Director	11/06/2007	11/06/2007	05/07/2010	Active	NO
33	U65923DL2007PTC164630	RRB INVESTMENTS PRIVATE LIMITED	Director	12/06/2007	12/06/2007	-	Active	NO
34	U67120MH2006PTC165638	WEB 18 SECURITIES PRIVATE LIMITED	Director	28/09/2007	09/07/2007	14/05/2008	Active	NO
35	U72300DL2007PLC165749	NETWORK18 PUBLICATIONS LIMITED	Director	11/07/2007	11/07/2007	-	Active	NO
36	U72300DL2007PTC166934	VT SOFTECH PRIVATE LIMITED	Director	13/08/2007	13/08/2007	-	Active	NO
37	U65100DL2007PTC166933	NETWORK18 INDIA HOLDINGS PRIVATE LIMITED	Director	13/08/2007	13/08/2007	30/09/2007	Amalgamated	NO
38	U65923DL2007PTC167515	RRK FINHOLD PRIVATE LIMITED	Director	30/08/2007	30/08/2007	-	Active	NO
39	U30007DL2007PTC167579	RVT MEDIA PRIVATE LIMITED	Director	31/08/2007	31/08/2007	26/08/2008	Active	NO
40	L92490DL2007PLC165673	DEN NETWORKS LIMITED	Director	19/09/2008	27/09/2007	22/10/2010	Active	NO
41	U92100MH1995PTC095508	VIACOM 18 MEDIA PRIVATE LIMITED	Director	06/11/2007	06/11/2007	-	Active	NO
42	U74120DL2007PTC170870	COLOSCEUM MEDIA PRIVATE LIMITED	Director	29/11/2007	29/11/2007	07/04/2008	Active	NO
43	U65923DL2007PTC170954	RB FINHOLD PRIVATE LIMITED	Director	30/11/2007	30/11/2007	-	Amalgamated	NO
44	U65923DL2008PTC172750	RVT FINHOLD PRIVATE LIMITED	Director	16/01/2008	16/01/2008	-	Active	NO
45	U67120DL2008PTC172740	RRK MEDIA PRIVATE LIMITED	Director	16/01/2008	16/01/2008	-	Active	NO
46	U45400DL2008PTC172779	RRB FINCAP PRIVATE LIMITED	Director	17/01/2008	17/01/2008	-	Amalgamated	NO
47	U74994DL2008PTC173043	STARGAZE ENTERTAINMENT PRIVATE LIMITED	Director	23/01/2008	23/01/2008	-	Active	NO
48	U21012UP2008PLC034808	JAGRAN 18 PUBLICATIONS LIMITED	Director	10/03/2008	10/03/2008	27/05/2010	Active	NO
49	U74300DL2008PTC177244	INDIACAST MEDIA DISTRIBUTION PRIVATE LIMITED	Director	25/04/2008	25/04/2008	25/08/2010	Active	NO
50	U22300DL2008PTC177733	VT MEDIA PRIVATE LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
51	U67120DL2008PTC178075	RRK FINVEST PRIVATE LIMITED	Director	13/05/2008	13/05/2008	-	Amalgamated	NO
52	U67190DL2008PTC178074	BK FINHOLD PRIVATE LIMITED	Director	13/05/2008	13/05/2008	-	Amalgamated	NO
53	U65993DL2008PTC178073	RB HOLDINGS PRIVATE LIMITED	Director	13/05/2008	13/05/2008	-	Active	NO
54	U74899DL1994PTC062384	BRR SECURITIES PRIVATE LIMITED	Director	26/09/2008	18/08/2008	-	Active	NO
55	L22219DL1955PLC211606	INFOMEDIA PRESS LIMITED	Director	30/09/2008	21/08/2008	-	Active	NO
56	U74300DL2010PTC207895	AETN18 MEDIA PRIVATE LIMITED	Director	06/09/2010	06/09/2010	-	Active	NO
57	U74300DL2010PTC208242	RB MEDIA HOLDINGS PRIVATE LIMITED	Director	14/09/2010	14/09/2010	-	Active	NO
58	U70101DL2011PTC212179	WATERMARK INFRATECH PRIVATE LIMITED	Director	26/09/2011	25/04/2011	-	Active	NO
59	U93000DL2010PTC211768	COLORFUL MEDIA PRIVATE LIMITED	Director	26/09/2011	25/04/2011	-	Active	NO
60	U74900DL2011PTC218428	ADVENTURE MARKETING PRIVATE LIMITED	Additional director	03/05/2011	03/05/2011	-	Active	NO
61	U22219MH2011PTC215810	DIGITAL CONTENT PRIVATE LIMITED	Additional director	15/11/2011	15/11/2011	-	Active	NO
62	U74300DL2011PTC227767	RB MEDIASOFT PRIVATE LIMITED	Director	22/11/2011	22/11/2011	-	Active	NO
63	U74900DL2011PTC229142	RRB MEDIASOFT PRIVATE LIMITED	Director	22/12/2011	22/12/2011	-	Active	NO

Name :

Mr. Raman Deep Singh Bawa

Designation :

Managing Director

Address :

212 B, Aralias DLF Golf Course, Phase – V, Gurgaon – 122 009, Haryana, India

Date of Birth/Age :

05.03.1951

Qualification :

Honours Graduate from SRCC College, Delhi University and a Chartered Accountant

Date of Appointment :

22.02.2012

DIN No.:

00015510

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U92490DL1997PLC085885	TELEVISION EIGHTEEN COMMODITIESCONTROL.COM LIMITED	Director	17/03/1997	17/03/1997	-	Amalgamated	NO
2	U99999DL2000PLC104757	E-EIGHTEEN.COM LIMITED	Director	30/09/2000	30/09/2000	-	Active	NO
3	U65993DL2006PTC147393	BK FINCAP PRIVATE LIMITED	Director	10/08/2007	25/08/2006	-	Amalgamated	NO
4	U72900DL2000PTC210392	CARE WEBSITES PRIVATE LIMITED	Director	26/09/2007	01/11/2006	-	Amalgamated	NO
5	U72200KA2000PTC030086	JOBSTREET.COM INDIA PRIVATE LIMITED	Director	17/11/2006	17/11/2006	31/03/2010	Active	NO
6	U67120DL2007PTC159247	RVT HOLDINGS PRIVATE LIMITED	Additional director	01/05/2007	01/05/2007	19/03/2008	Active	NO
7	U65100DL2007PTC166933	NETWORK18 INDIA HOLDINGS PRIVATE LIMITED	Director	12/09/2008	29/09/2007	-	Amalgamated	NO
8	U00000DL2000PLC107460	INEWS.COM LIMITED	Director	12/09/2008	12/03/2008	-	Amalgamated	NO
9	U93091DL2006PLC149705	TV18 HOME SHOPPING NETWORK LIMITED	Managing director	22/02/2012	20/03/2008	-	Active	NO
10	U64200DL2008PTC176022	ARENA MEDIA PRIVATE LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
11	U74300DL2007PTC166436	CAPITAL18 MEDIA ADVISORS PRIVATE LIMITED	Director	26/09/2008	08/04/2008	-	Amalgamated	NO
12	U22300TN2009PTC071587	WS MEDIA VENTURES PRIVATE LIMITED	Director	08/05/2009	08/05/2009	-	Active	NO
13	U65923DL2006PTC150773	RVT INVESTMENTS PRIVATE LIMITED	Additional director	03/06/2010	03/06/2010	-	Amalgamated	NO
14	U65923DL2006PTC149919	INDIA INTERNATIONAL FILM ADVISORS PRIVATE LIMITED	Director	30/08/2010	30/06/2010	-	Active	NO
15	U65923DL2007PTC164598	IBN LOKMAT NEWS PRIVATE LIMITED	Director	26/07/2010	05/07/2010	-	Active	NO
16	U51909DL2003PTC123225	B K MEDIA PRIVATE LIMITED	Additional director	21/09/2010	21/09/2010	21/10/2010	Active	NO
17	U65923DL2006PTC150657	CAPITAL18 FINCAP PRIVATE LIMITED	Additional director	21/09/2010	21/09/2010	21/10/2010	Active	NO
18	U72200DL2006PLC150812	WEB18 SOFTWARE SERVICES LIMITED	Director	07/09/2011	22/10/2010	-	Active	NO
19	U67120MH2006PTC165638	WEB 18 SECURITIES PRIVATE LIMITED	Additional director	15/02/2012	15/02/2012	-	Active	NO
20	U65923DL2006PLC150020	GREYCELLS18 MEDIA LIMITED	Director	27/09/2012	14/08/2012	-	Active	NO
21	U65923DL2007PTC167515	RRK FINHOLD PRIVATE LIMITED	Director	10/09/2012	10/09/2012	-	Active	NO
22	U65923DL2008PTC172750	RVT FINHOLD PRIVATE LIMITED	Director	10/09/2012	10/09/2012	-	Active	NO

Name :

Mr. Sarbvir Singh

Designation :

Director

Address :

House No. 46, Sector – 37, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

27.09.1971

Qualification :

Degree in Business Management from IIM, Ahemdabad and graduate of IIT, Delhi

Date of Appointment :

27.07.2010

DIN No.:

00509959

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74140DL2004PTC127978	HERCULES CAPITAL ADVISORS PRIVATE LIMITED	Director	06/12/2004	06/12/2004	10/02/2007	Strike off	NO
2	U74300DL2007PTC166436	CAPITAL18 MEDIA ADVISORS PRIVATE LIMITED	Director	30/07/2007	30/07/2007	-	Amalgamated	NO
3	U64202KA2006PTC038459	MOBILENXT TELESERVICES PRIVATE LIMITED	Director	25/09/2008	07/09/2007	07/08/2009	Active	NO
4	U72300DL2007PTC167447	MOBILENXT ONLINE PRIVATE LIMITED	Director	22/09/2008	07/09/2007	-	Amalgamated	NO
5	U74899DL2000PTC107294	WEBCHUTNEY STUDIO PRIVATE LIMITED	Director	26/09/2008	01/11/2007	-	Active	NO
6	U80302KA2001PTC029172	24X7 LEARNING PRIVATE LIMITED	Nominee director	17/11/2007	10/11/2007	-	Active	NO
7	U74994DL2008PTC173043	STARGAZE ENTERTAINMENT PRIVATE LIMITED	Director	23/01/2008	23/01/2008	-	Active	NO
8	U72200MH2007PTC175910	WESPRO DIGITAL PRIVATE LIMITED	Director	30/09/2008	29/02/2008	-	Active	NO
9	U74120DL2007PTC170870	COLOSCEUM MEDIA PRIVATE LIMITED	Director	26/09/2008	28/07/2008	-	Active	NO
10	U72200KA2007PTC043665	UBONA TECHNOLOGIES PRIVATE LIMITED	Director	29/09/2008	29/09/2008	-	Active	NO
11	U65923DL2006PLC150020	GREYCELLS18 MEDIA LIMITED	Director	10/08/2009	24/02/2009	-	Active	NO
12	U93091DL2006PLC149705	TV18 HOME SHOPPING NETWORK LIMITED	Director	27/07/2010	03/12/2009	-	Active	NO
13	U63040MH2005FTC158404	YATRA ONLINE PRIVATE LIMITED	Director	29/09/2010	03/02/2010	-	Active	NO
14	U99999MH1999PTC120990	BIG TREE ENTERTAINMENT PRIVATE LIMITED	Director	26/07/2010	26/07/2010	-	Active	NO
15	U92100MH1995PTC095508	VIACOM 18 MEDIA PRIVATE LIMITED	Director	13/06/2012	13/06/2012	-	Active	NO

Name :

Mr. Deepak Gaur

Designation :

Director

Address :

A – 196, Second Floor, Today Bloosom, Mayfield Garden, Sector – 51, Gurgaon – 122 001, Haryana, India

Date of Birth/Age :

02.08.1977

Qualification :

B.Tech in Mechanical Engineering and Post Grduate Diploma in Management

Date of Appointment :

03.08.2011

DIN No.:

02909570

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U55101WB1999PLC090672	SPECIALITY RESTAURANTS LIMITED	Alternate director	04/02/2011	04/02/2011	09/02/2011	Active	NO
2	U93091DL2006PLC149705	TV18 HOME SHOPPING NETWORK LIMITED	Director	03/08/2011	29/04/2011	-	Active	NO
3	U92200AP2003PTC040633	IVISION MEDIA INDIA PRIVATE LIMITED	Additional director	10/09/2012	10/09/2012	-	Active	NO

Name :

Mr. Ravi Chandra Adusumalli

Designation :

Director

Address :

PO Box 12430, Zephyr Cove, NV 89448-4430, Nevada, U.S.A

Date of Birth/Age :

14.01.1976

Qualification :

Graduate in Economics and Government from Cornell University

Date of Appointment :

29.04.2011

DIN No.:

00253613

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company / LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U67120MH1997PLC110386	HSBC INVESTDIRECT (INDIA) LIMITED	Nominee director	13/01/2005	13/01/2005	25/07/2008	Active	NO
2	U63040DL2000PTC105210	MAKEMYTRIP (INDIA) PRIVATE LIMITED	Director	21/06/2005	21/06/2005	-	Active	NO
3	U67120MH2006PLC159988	HSBC INVESTDIRECT SECURITIES (INDIA) LIMITED	Director	14/06/2007	25/07/2006	24/09/2008	Active	NO
4	U74140MH1993PLC150054	JUST DIAL LIMITED	Director	09/10/2006	09/10/2006	-	Active	NO
5	U15313TN2001PLC064903	ASIAN HEALTH AND NUTRI FOODS LIMITED	Director	06/08/2007	27/12/2006	26/07/2010	Active	NO
6	U72200DL2000PLC108985	ONE 97 COMMUNICATIONS LIMITED	Additional director	16/02/2012	29/03/2007	-	Active	NO
7	U73100TN1988PTC016365	AMOHA EDUCATION PRIVATE LIMITED	Director	29/09/2007	29/09/2007	29/09/2011	Active	NO
8	U01403TN2007PLC065363	ASIAN AGRO ENERGY PLANTATIONS LIMITED	Director	29/09/2008	27/11/2007	26/07/2010	Active	NO
9	U55101WB1999PLC090672	SPECIALITY RESTAURANTS LIMITED	Director	27/12/2007	27/12/2007	17/12/2009	Active	NO
10	U92200AP2003PTC040633	IVISION MEDIA INDIA PRIVATE LIMITED	Director	30/09/2009	16/08/2008	10/09/2012	Active	NO
11	U72200TN2002PLC050086	FATPIPE NETWORKS LIMITED	Director	25/09/2009	10/08/2009	-	Active	NO
12	L65910DL1996PLC076419	NETWORK18 MEDIA & INVESTMENTS LIMITED	Director	27/08/2010	21/01/2010	01/12/2011	Active	NO
13	U74120MH2010PTC200998	JUST DIAL GLOBAL PRIVATE LIMITED	Director	18/03/2010	18/03/2010	-	Active	NO
14	U18109MH2007PTC169789	FINGERPRINTS FASHIONS PRIVATE LIMITED	Nominee director	15/02/2011	15/02/2011	-	Active	NO
15	U93091DL2006PLC149705	TV18 HOME SHOPPING NETWORK LIMITED	Director	03/08/2011	29/04/2011	-	Active	NO
16	U72100PN2010PTC136340	BRAINBEES SOLUTIONS PRIVATE LIMITED	Director	17/10/2011	16/05/2011	-	Active	NO
17	U18101KA2010PTC056411	ROBEMALL APPARELS PRIVATE LIMITED	Director	30/09/2011	07/06/2011	-	Active	NO
18	U72300DL2006PTC149437	LE TRAVENUES TECHNOLOGY PRIVATE LIMITED	Director	17/08/2011	16/08/2011	-	Active	NO
19	U72900KA2007PTC041888	A2 MEDIA PRIVATE LIMITED	Director	31/08/2011	19/08/2011	-	Active	NO
20	U70102HR2006PTC038360	PROPTIGER REALTY PRIVATE LIMITED	Nominee director	30/03/2012	30/03/2012	-	Active	NO
21	U72200KA2010PTC056036	CROWDANALYTIX SOLUTIONS PRIVATE LIMITED	Nominee director	18/05/2012	18/05/2012	-	Active	NO

Name :

Mr. Kim Joon Shick

Designation :

Director

Address :

Pangyo Wonmaul Apart, 1207-1302, 494 pangyodong, Bundang-Gu, Seongnam-SI, Gyeonggido, Seol – 463410 NA Korea, Republic, korea

Date of Birth/Age :

31.12.1970

Qualification :

Graduate in Engineering, p.h.d from KAIST and certified in Production and Inventory Management

Date of Appointment :

03.08.2011

DIN No.:

02937373

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U93091DL2006PLC149705	TV18 HOME SHOPPING NETWORK LIMITED	Director	03/08/2011	29/04/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Roshni Tandon
Designation :	Secretary
Address :	16 G, IIIrd Floor, Pocket l, Sheikh Sarai, Phase II, New Delhi – 110 017, India
Date of Birth/Age :	09.08.1979
Date of Appointment :	01.01.2008
PAN No.:	ADZPT6410B
Name :	Ashwini Kumar Sharma
Designation :	Director – Planning and Broadcast
Date of Birth/Age :	37 Years
Qualification :	MBA from IIRM
Experience :	13 Years
Date of Appointment :	29.10.2007
Name :	Raman Gulati
Designation :	Director - Ops. and Logistics
Address :
Date of Birth/Age :	55 Years
Qualification :	CA and MBA
Experience :	23 Years
Date of Appointment :	26.09.2006
Name :	Atrash Aman
Designation :	Director – Sourcing and Strategy
Date of Birth/Age :	41 Years
Qualification :	MBA from FMS
Experience :	16 Years
Date of Appointment :	01.03.2007
Name :	Sundeep Malhotra
Designation :	Chief Executive Officer – Home Shopping
Date of Birth/Age :	49 Years
Qualification :	B.Com (Hons.), PGD in Mktg from AIIMA
Experience :	23 Years
Date of Appointment :	01.08.2006

MAJOR SHAREHOLDERS

As on 03.08.2011

Names of Equity Shareholders	No. of Shares
TV 18 HSN Holding Limited, Cyprus	1136599
Raghav Bahl*	1
Raman Deep Singh Bawa*	1
Anil Srivastava*	1
Sanjeev Kulshreshtha*	1
Sachin Gupta*	1
Hitesh Kumar Jain*	1
TOTAL	1136605

* Holdings as nominee of TV 18 HSN Holding Limited, Cyprus

As on 25.11.2011

Names of Equity Shareholders	No. of Shares
TV18 HSN Holdings Limited, Cyprus	11280
TOTAL	11280

As on 30.03.2012

Names of Equity Shareholders	No. of Shares
TV18 HSN Holdings Limited, Cyprus	9697
TOTAL	9697

As on 30.03.2012

Names of Equity Shareholders	No. of Shares
TV18 HSN Holdings Limited, Cyprus	83209
TOTAL	83209

As on 03.08.2011

Names of Preference Shareholders	No. of Shares
TV 18 HSN Holding Limited, Cyprus (5% Optionally Convertible Preference Shares)	101181
TV 18 HSN Holding Limited, Cyprus (0.01% Compulsory Convertible Preference Shares)	291998
TOTAL	393179

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Broadcasting Services.

Products :

ITC Code	Product Descriptions
9540	Television Broadcasting and Related Services

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Yes Bank Limited - 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai 400 018, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working capital loans banks secured Loans taken for vehicles secured	(A)21.506 0.970	48.579 1.465
Total	22.476	50.044

NOTES:

(A)

(a) Amount repayable within one year Rs. 22,045,442 (Previous year Rs.

49,182,457)

(b) This is Book overdraft - cash credit facility

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working capital loans banks unsecured	(A)3.750	3.787
Total	3.750	3.787

NOTES:

(A) Book overdraft

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	7^th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City Phase – II, Gurgaon – 122 002, Haryana, India
Tel. No.:	91-124-6792000
Fax No.:	91-124-6792012
Website :	www.deloitte.com
Holding Company :	TV18 HSN Holding Limited, Cyprus
Holding company of TV18 HSN Holdings Limited Cyprus :	Network 18 Holdings Limited, Cayman Islands (NHL)
Ultimate Holding Company :	Network18 Media and Investments Limited, India [CIN: L65910DL1996PLC076419]
Fellow Subsidiary Company :	TV18 Broadcast Limited, India [CIN : L74300DL2005PLC137214] Television Eighteen India Limited, India [CIN: L74899DL1993PLC055351] Network18 India Holdings Private Limited, India [CIN: U65100DL2007PTC166933] Setpro18 Distribution Limited, India [CIN: U74899DL1993PLC055410] RVT Investments Private Limited, India [CIN: U65923DL2006PTC150773] Newswire18 Limited, India [CIN: U92120MH2006PLC164692] iNews.com Limited, India [CIN: U00000DL2000PLC107460] Television Eighteen Mauritius Limited, Mauritius Television Eighteen Media and Investment Limited, Mauritius Web 18 Holdings Limited, Cayman Islands BK Holdings Limited, Mauritius Capital 18 Limited, Mauritius Namono Investments Limited, CYPRUS TV18 UK Limited, United Kingdom E-18 Limited, Cyprus Web18 Software Services Limited, India [CIN: U72200DL2006PLC150812] Television Eighteen Commoditiescontrol.com Limited, India [CIN: U92490DL1997PLC085885] e-Eighteen.com Limited, India [CIN: U99999DL2000PLC104757] Big Tree Entertainment Private Limited, India [CIN: U99999MH1999PTC120990] Care Websites Private Limited, India [CIN: U72900DL2000PTC210392] Moneycontrol.Dot Com India Limited, India [CIN: U67120MH1999PLC120771] Capital18 Acquisition Corporation, Cayman Islands Colosceum Media Private Limited, India [CIN: U74120DL2007PTC170870] Stargaze Entertainment Private Limited, India [CIN: U74994DL2008PTC173043] RVT Media Private Limited, India [CIN: U30007DL2007PTC167579] Ibn18 Media and software Limited, India [CIN: U92132DL2004PLC196312] IBN 1 8 (Mauritius) Limited, Mauritius Infomedia 18 Limited, India [CIN: L22219DL1955PLC211606] Cepha Imaging Private Limited, India [CIN: U72300MH1999PTC175737] Glyph International Limited, American Samoa Glyph International UK Limited, United Kingdom Glyph International US LLC, United States Wespro Digital Private Limited, India [CIN: U72200MH2007PTC175910] RVT Holdings Private Limited, India [CIN: U67120DL2007PTC159247] RRB Investments Private Limited, India [CIN: U65923DL2007PTC164630] Digital18 Media Limited, India [CIN: U22130DL2007PLC162067] Greycells18 Media Limited, India [CIN: U65923DL2006PLC150020] Tangerine Digital Entertainment Private Limited, India [CIN: U72900MH2006PTC163087]

CAPITAL STRUCTURE

As on 31.03.2011

Authorized Capital:

No. of Shares	Type	Value	Amount
1300000	Equity Shares	Rs. 10/- each	(A)Rs. 13.000 millions
400000	Preference Shares	Rs. 100/- each	(B)Rs. 40.000 millions
	TOTAL		Rs. 53.000 millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
1136605	Equity Shares	Rs. 10/- each	(C)Rs. 11.366 millions
393179	Preference Shares	Rs. 100/- each	(D)Rs. 39.318 millions
	TOTAL		Rs. 50.684 millions

NOTES:

(A) 1,300,000 (Previous year 1,000,000) equity shares of Rs. 10 each

(B) 400,000 (Previous year 400,000) preference shares of Rs. 100 each

(C) 1,136,605 (Previous year 1,136,605) equity shares of Rs. 10 each fully paid up of the above: 1,136,605 (Previous Year 1,136,605) equity shares of Rs. 10 each are held by TV18 HSN Holdings Limited, Cyprus, the holding company. The ultimate holding company is Network18 Media & Investments Limited, India

(D) This includes: (a) 101,181 (Previous year 101,181) 5% optionally convertible preference shares of Rs. 100 each fully paid up [CY: 10,118,100, PY: 10,118,100]. Also see note 5 (a) of Notes-402500 Other Disclosures. (b) 291,998 (Previous year 291,998) 0.01% compulsory convertible preference shares of Rs. 100 each fully paid up [CY: 29,199,800, PY: 29,119,800].

After 03.08.2011

Authorized Capital: Rs. 150.000 millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
1240791	Equity Shares	Rs. 10/- each	Rs. 12.408 millions
393179	Preference Shares	Rs. 100/- each	Rs. 39.318 millions
	TOTAL		Rs. 51.726 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		50.684	50.684	47.222
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2284.946	2284.945	902.364
4] (Accumulated Losses)		(1710.808)	(1201.552)	(917.636)
NETWORTH		624.822	1134.077	31.950
LOAN FUNDS
1] Secured Loans		22.476	50.044	150.000
2] Unsecured Loans		3.750	3.787	0.000
TOTAL BORROWING		26.226	53.831	150.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		651.048	1187.908	181.950
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		195.277	163.279	182.877
Capital work-in-progress		0.000	3.893	0.000
INVESTMENT		0.000	37.310	78.313
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	28.535	41.318	26.219
	Cash & Bank Balances	290.819	951.147	32.532
	Other Current Assets	0.000	00.000	5.192
	Loans & Advances	447.704	338.455	249.633
Total Current Assets		767.058	1330.920	313.576
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	264.900	317.593	360.978
	Current Liabilities	30.075	19.843	25.308
	Provisions	16.312	10.058	6.530
Total Current Liabilities		311.287	347.494	392.816
Net Current Assets		455.771	983.426	(79.240)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		651.048	1187.908	181.950

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	626.378	509.161	227.064
		Other Income	49.742	34.137	12.799
		TOTAL (A)	676.120	543.298	239.863
Less	EXPENSES
		Production , Administrative and Other Costs	917.975	611.203	541.137
		Personnel Expenses	222.951	163.400	125.299
		TOTAL (B)	1140.926	774.603	666.436
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(464.806)	(231.305)	(426.573)
Less	FINANCIAL EXPENSES (D)		1.676	18.579	32.171
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(466.482)	(249.884)	(458.744)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		42.770	34.034	30.938
	PROFIT BEFORE TAX (E-F) (G)		(509.252)	(283.918)	(489.682)
Less	TAX (I)		0.000	0.000	3.736
	PROFIT AFTER TAX (G-I) (J)		(509.252)	(283.918)	(493.418)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(1201.554)	(917.636)	(424.218)
	BALANCE CARRIED TO THE B/S		(1710.806)	(1201.554)	(917.636)
	IMPORTS
		Capital Goods	1.515	0.885	5.532
	TOTAL IMPORTS		1.515	0.885	5.532
	Earnings Per Share (Rs.)		(448.05)	(336.12)	(684.59)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(75.32)	(52.26)	(205.71)
Net Profit Margin (PBT/Sales)	(%)	(81.30)	(55.76)	(215.66)
Return on Total Assets (PBT/Total Assets}	(%)	(52.91)	(18.99)	(98.64)
Return on Investment (ROI) (PBT/Networth)		(0.81)	(0.25)	(15.33)
Debt Equity Ratio (Total Liability/Networth)		0.54	0.35	16.99
Current Ratio (Current Asset/Current Liability)		2.46	3.83	0.80

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Background

TV18 Home Shopping Network Limited (Formerly TV18 Home Shopping Network Private Limited), (the Company), was incorporated in India on 13 June 2006 as TV18 Home Shopping Network Private Limited. A fresh certificate of incorporation consequent to the change in name to TV18 Home Shopping Network Limited was issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana on 10 June, 2008 under section 23(1) of the Companies Act, 1956.

The Company is primarily engaged in the business of distribution of consumer and other products and to provide services to customers at their doorstep pursuant to orders placed by the customers for listed vendor products on its television channel, website and on call centres operated specifically for this purpose.

As at 31 March, 2011, of the total equity shares, 1,136,605 (Previous year 1136,605) equity shares are held by the holding company, TV18 HSN Holdings Limited, Cyprus, which is a subsidiary of Network 18 Holdings Limited, the ultimate holding company being Network18 Media and Investments Limited (formerly Network 18 Fincap Limited).

TV18 HSN Holdings Limited, Cyprus, the holding company, had received an approval from the Foreign Investment Promotion Board of the Government of India for investment in the Company for the purpose of creation and uplinking of a television channel which will not cater to News and Current Affairs programs. The Company had made an application to the Ministry of Information and Broadcasting requesting for permission to uplink the aforesaid television channel and the approval for the same was received on 23 November, 2007. The channel "Home Shop 18" was launched on 9 April, 2008.

Operational outlook

The Company has reported losses for the year ended 31 March, 2011 and as of that date the accumulated losses of the Company were Rs 1710.805 millions.

The management has implemented plans and policies to improve its operations significantly and strengthen the financial position of the Company in the coming years. The management is certain to achieve operational break even in the near future and to generate profits in the due course. In view of the financial support provided by TV18 HSN Holdings Limited, the holding Company, management is of the opinion that it is appropriate to prepare the accounts on a going concern basis. Accordingly, the financial statements continue to be prepared on a going concern basis and do not include any adjustments relating to the recoverability and classification of recorded assets amounts and the classification of liabilities that might be necessary should the company be unable to continue as a going concern.

OPERATIONS

During the financial year ended March 31, 2011 under review, the Company has earned Rs.676.000 millions whereas the expenditure was Rs. 1185.300 millions resulting in a loss of Rs. 509.300 millions.

OPERATIONS AND BUSINESS OUTLOOK

The Company's is a pioneer in virtual retail with leading presence in both 24 hr. Home Shopping TV Channel (HomeShop18) and e-commerce (homeshop18.com). The Company completed three years in operation in April of this year. The past one year has seen further growth in the business of the Company. The Company's Business Income grew to Rs. 676.000 millions from Rs 543.000 millions in the previous year, a growth of 25% YoY. And the Loss (before tax) for the year stood at Rs. 509.000 millions as against Rs. 28.4 millions. for the previous year.

In the past one year, over 800 new products were launched on the Channel. Growing acceptance of virtual retail combined with superior product proposition and value for the customer enabled the Company to become one of the largest distribution platforms for mobiles and digital cameras in the country. The Channel reach increased by 50% YoY to approximately 10.600 Million households in March 11 as compared to 7 Million in March 10. The TV Channel today is seen as one of the largest alternate distribution platform with a pan India reach in over 55 Million households. This has enabled us to partner with some of the biggest brands like Nokia, Canon, LG, Samsung, Puma, Reebok etc and provide unique products and propositions for our viewers. The Company launched it's first Brand Campaign during the course of the year.

During the course of the year the Company made significant investments in expanding e-commerce business. The e-commerce revenue grew by 4 times YoY. A new revamped website was launched in January 2011. Since then the traffic on the website has grown by 70% to 1.05 Million unique visitors per month. That makes us the 5th largest website in terms of traffic.

During the year Company's unique business model was acknowledged and awarded at various prestigious forums? Master Brand Award by CMO council; "Best Shoppers Insight Model" by Asia retail congress, "Excellence in Retailing" at India retail Forum and CMO Asia Award for Brand excellence in Internet Business, Brand Leadership and Media & Entertainment.

In the current financial year, organized competition with a 24 hr Shopping Channel was launched in 2nd quarter. Virtual shopping is highly under penetrated where, so far, only the Company has invested in the market development. They see the emergence of competition to have a salutary effect as it will signal the formal formation of an industry, which thus far has had only HomeShop18 as a serious player. It will place the industry in the mainstream and accelerate consumer confidence in an industry which lacks "touch & feel" inherently and which thus far has only seen unorganized players. As the pioneer and industry leader, the Company expects to gain from this development.

During the next year Company expects a number of new e-commerce ventures to start or receive new investments from investors. This will enable not only improved internet penetration but also investments in improved logistics and distribution.

NOTE:

Registered office of the company has been shifted from 601, 6^th Floor, Commercial Tower, Hotel Le – Meridien, Raisina Road, New Delhi – 110001, India to the present address w.e.f. 10.05.2010

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U93091DL2006PLC149705
Name of the company	TV18 HOME SHOPPING NETWORK LIMITED
Address of the registered office or of the principal place of business in India of the company	503, 504 and 507, 5^th floor, Mercantile House, 15 Kasturba Gandhi Margh, New Delhi - 110001, India e-mail: roshni.tandon@network18online.com
This form is for	Creation of charge
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	The Ratnakar Bank Limited, Vyapari Peth, Shahupuri, Kolhapur – 416001, Maharashtra, India e-mail: cdzirkande@ratnakarbank.in
Nature of description of the instrument creating or modifying the charge	Composite Deed of Hypothecation dated 27.04.2012 for all Current and Movable Fixed Assets of the company including Loans and Advances present and future.
Date of instrument Creating the charge	27.04.2012
Amount secured by the charge	Rs. 400.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest WCDL : To be decided at the time of disbursement Cash Credit: BR+2.50% p.a. Terms of Repayment Working Capital Demand Loan on due Date. Cash Credit repayable on demand upon notice. Margin 25% Extent and Operation of the charge 1st Charge on the current and movable fixed assets of the borrower including loans and advances.
Short particulars of the property charged	The whole of Current Assets of the Borrower namely, Stocks of Raw Materials, Stocks in process, Semi-Finished and Finished Goods, Stores and Spares not relating to Receivable and Book Debts and all other movable, both present and future. All the present and future book-debts, outstanding, money receivables, claims, bills hereunder which are now due and owing or which may at any time hereinafter during the continuance of this security become due owing to the Borrower in the course of his business by any persons, firm, company or body corporate or by the Central Government or any State Government, or any Government department or office or any municipal or local or public or semi-Government body or authority or anybody corporate or undertaking or project whatsoever. All present and future movable fixed assets of the Borrower of the following description, lying or stored in the Borrower's factories, premises and godowns or any other place, particularly plant and machinery, equipments, furniture and fixtures, computers, vehicles, whether installed on the factory shed or not and all present and future plant and machinery purchased from time to time by availing of the said facilities.

FIXED ASSETS

• Leasehold Improvements
• Plant and Machinery
• Computer Hardware
• Furniture and Fixtures
• Vehicles
• Computer Software

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 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.52.38
UK Pound	1	Rs.84.00
Euro	1	Rs.67.99

INFORMATION DETAILS

Report Prepared by :

NID

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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		26

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.