MIRA INFORM REPORT

Report Date :

10.09.2012

IDENTIFICATION DETAILS

Name :	BUYSELL INTERACTIONS PRIVATE LIMITED
Registered Office :	No. 5, Shanmugam Street, Royapettah, Chennai – 600014, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.05.2003
Com. Reg. No.:	18-050826
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U92419TN2003PTC050826
Legal Form :	Private Limited Liability Company
Line of Business :	Offering services of exhibition organizer, office exhibition organizer, special exhibition organizer, professional exhibition organizer, upcoming exhibition organizer, trade exhibition organizer, trade show and technology exhibition organizer.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 10000
Status :	Small company
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a small company in its field. Its Scale of activities are limited. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for business dealings on a 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 – 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 :	No. 5, Shanmugam Street, Royapettah, Chennai – 600014, Tamilnadu, India
Tel. No.:	91-44-42177899/ 28353739
Fax No.:	91-44-28350839
E-Mail :	info@buysellint.com

DIRECTORS

As on: 30.09.2011

Name :

Mr. Ravindra Kumar Gumpena

Designation :

Director

Address :

146, Luz Church Road, Mylapore, Chennai – 600004, Tamilnadu, India

Date of Birth/Age :

19.04.1966

Date of Appointment :

06.05.2003

DIN No.:

02045037

Name :

Mr. Dileep Kumar Gumpena Ramachandra Rao

Designation :

Director

Address :

146, Luz Church Road, Mylapore, Chennai – 600004, Tamilnadu, India

Date of Birth/Age :

01.02.1962

Date of Appointment :

01.04.2004

DIN No.:

01562067

Name :

Mrs. Karthika Ravindra Kumar

Designation :

Director

Address :

146, Luz Church Road, Mylapore, Chennai – 600004, Tamilnadu, India

Date of Birth/Age :

24.05.1971

Date of Appointment :

04.09.2004

DIN No.:

01417974

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	U92419TN2003PTC050826	BUYSELL INTERACTIONS PRIVATE LIMITED	Director	04/09/2004	04/09/2004	-	Active	NO
2	U33111TN1975PLC007048	ANAND ELECTRONICS AND INDUSTRIES LIMITED	Director	30/09/2009	06/02/2009	12/04/2010	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Ravindra Kumar Gumpena	500
Karthika Ravi	500
Total	1000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Offering services of exhibition organizer, office exhibition organizer, special exhibition organizer, professional exhibition organizer, upcoming exhibition organizer, trade exhibition organizer, trade show and technology exhibition organizer.

GENERAL INFORMATION

Suppliers :

· Apsom Technologies India Private Limited

· Abhikruti Digi Soft

· Acry Monomers (India) Private Limited

· Arya Enterprises

· Balaji Impex

· Chamin Technologies

· Crayz Lighting Solution

· CTSF Anord

· Dazzle Creations

· Elcare Systems Private Limited

· Digitech Machinery Private Limited

· Future Tek Machines Private Limited

· Hi Care India Private Limited

· Ikon Technologies

· INB Cherian Machines

· Inter Foto India Private Limited

· Kinjal Digital Imaging Solutions

· Maruthi Power Control Systems

· Metro Media Communication

· Raja Power Distributor

· Piercing Systems India Private Limited

· Sangeetha Machinery Company

No. of Employees :

Not Available

Bankers :

· ABN Amro Bank

· Allahabad Bank

· ICICI Bank Limited

· HDFC Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
HDFC Bank		0.405
Total	0.101	0.405
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Cholamandalam DBS Finance Limited	0.000	0.301
Total	0.000	0.301

Banking Relations :	--
Auditors :
Name :	R Janakiraman and Company Chartered Accountants
Address :	New No.6, Old No.43, Maharaja Surya Rao Road, Alwarpet, Chennai – 600018, Tamilnadu, India
Tel. No.:	91-44-24352596/ 24352597
Mobile No.:	91-9381051212/ 9840122090/ 9840756873
E-Mail :	rjco1960@dataone.in rjco1960@md5.vsnl.net.in
PAN No.:	AAAFR0910L

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs.100/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs.100/- each	Rs.0.100 Million

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		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.404	1.808	1.295
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.504	1.908	1.395
LOAN FUNDS
1] Secured Loans		0.101	0.405	2.201
2] Unsecured Loans		0.000	0.301	1.099
TOTAL BORROWING		0.101	0.706	3.300
DEFERRED TAX LIABILITIES		0.000	0.000	0.021
TOTAL		2.605	2.614	4.716
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.712	0.878	1.085
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	3.204	1.939	2.502
	Cash & Bank Balances	3.606	0.902	1.690
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.504	0.497	0.720
Total Current Assets		8.314	3.338	4.912
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.421	1.540	1.229
	Other Current Liabilities		0.062	0.052
	Provisions	0.000	0.000	0.000
Total Current Liabilities		6.421	1.602	1.281
Net Current Assets		1.893	1.736	3.631
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2.605	2.614	4.716

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Service Charges and Collections	22.095	15.050	15.445
		Other Income	0.000	0.710	0.057
		TOTAL (A)	22.095	15.760	15.502
Less	EXPENSES
		Purchases	1.618	0.193	0.235
		Direct Service Expenses	13.985	11.306	11.348
		Other Service, Administrative and Selling Expense	2.841	1.743	1.307
		Employees Remuneration and Benefits	1.639	0.952	0.798
		Directors Remuneration	0.720	0.360	0.360
		Bad Debts Written off	0.000	0.000	0.387
		TOTAL (B)	20.803	14.554	14.435
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.292	1.206	1.067
Less	FINANCIAL EXPENSES (D)		0.077	0.192	0.313
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.215	1.014	0.754
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.257	0.307	0.267
	PROFIT BEFORE TAX (E-F) (G)		0.958	0.707	0.487
Less	TAX (H)		0.362	0.278	0.022
	PROFIT AFTER TAX (G-H) (I)		0.596	0.429	0.465
	Earnings Per Share (Rs.)		596.20	429.41	465.22

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.70	2.72	3.00
Net Profit Margin (PBT/Sales)	(%)	4.34	4.70	3.15
Return on Total Assets (PBT/Total Assets}	(%)	10.61	16.77	8.12
Return on Investment (ROI) (PBT/Networth)		0.38	0.37	0.35
Debt Equity Ratio (Total Liability/Networth)		2.60	1.21	3.28
Current Ratio (Current Asset/Current Liability)		1.29	2.08	3.83

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	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

PERFORMANCE:

During the financial year under report the company has made a total income of Rs.22.095 Millions as against a total income of Rs 15.760 Millions made during the previous year. Your Company has made a net profit after tax amounting to Rs 0.596 Million for the year ended 31st March 2011 as against a net profit of Rs 0.429 Million made during the previous year.

FIXED ASSETS:

· Furniture and Fixture

· Car – Innova

· Computer

· Cell Phone

· Draw Box Die

· Air Conditioner

· UPS

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.55.52
UK Pound	1	Rs.88.49
Euro	1	Rs.70.20

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		31

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.