MIRA INFORM REPORT

Report Date :

17.09.2012

IDENTIFICATION DETAILS

Name :	AEGIS INFOWARE PRIVATE LIMITED
Registered Office :	230, Platinum Plaza, Opposite IOC Petrol Pump, Judges Bunglow Road, Bodakdev, Ahmedabad-380015, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.06.2006
Com. Reg. No.:	04-48546
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U72100GJ2006PTC048546
TAN No.: [Tax Deduction & Collection Account No.]	AHMA07034G
PAN No.: [Permanent Account No.]	AAFCA7944P
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Computer and Computer Peripherals.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit:	USD 17704
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. Payment terms 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.

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 DEFAILTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAILTERS’ 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.

INFORMATION DECLINED BY

Name :	Mr. Deepak Kadia
Designation :	Accounts Manager
Contact No.:	91-9974444511
Date :	15.09.2012

LOCATIONS

Registered Office :	230, Platinum Plaza, Opposite IOC Petrol Pump, Judges Bunglow Road, Bodakdev, Ahmedabad-380015, Gujarat, India
Tel. No.:	91-79-66097903 / 4
Fax No.:	91-79-66097903 / 26731004
Mobile No.:	91-9725073477 (Mr. Manish Acharya)
E-Mail :	d.kadia@adityainfo.com dgpatelstaff@gmail.com a.shah@adityainfo.com info@adityainfo.com
Website :	http://www.adityainfo.com
Branch Office :	Tagore Road, Rajkot, Gujarat, India

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Atul Rajarambhai Shah
Designation :	Director
Address :	806, Rajgarden, New Vikash Gruh, Paldi, Ahmedabad-380007, Gujarat, India
Date of Birth/Age :	19.10.1967
Date of Appointment :	23.06.2006
Din :	00311081
Other Directorship :	Aditya Informatics Private Limited
Name :	Mr. Manish Harishbhai Acharya
Designation :	Director
Address :	A/4, Satellite Plaza, Row House, Opposite Akar Society, P. N. Road, Satellite, Ahmedabad-380015, Gujarat, India
Date of Birth/Age :	16.05.1970
Date of Appointment :	23.06.2006
DIN :	00311222
Other Directorship :	Aditya Informatics Private Limited
Name :	Mr. Nirav Yashvant Jani
Designation :	Director
Address :	Manjula Deep, Plot No.1214/1, Sector 7d, Gandhinagar-382007, Gujarat, India
Date of Birth/Age :	14.06.1973
Date of Appointment :	23.06.2006
DIN :	00337159
Other Directorship :	Skyscraper Infotech Private Limited
Name :	Mrs. Sharmilee Manishbhai Acharya
Designation :	Independent Director
Address :	A/4, Satellite Plaza, Row House, Opposite Akar Society, P. N. Road, Satellite, Ahmedabad-380015, Gujarat, India
Date of Birth/Age :	04.09.1971
Date of Appointment :	24.03.2010
DIN :	03012063
Name :	Mrs. Seema Atul Shah
Designation :	Independent Director
Address :	806, Raj Garden Apartment, New Vikash Gruh Road, Paldi, Ahmedabad-380007, Gujarat, India
Date of Birth/Age :	16.02.1968
Date of Appointment :	24.03.2010
DIN :	00311014
Name :	Mr. Ashish Chandrakant Mehta
Designation :	Director
Address :	Himanshu Villa, 2 Vimanagar Raiya Road, Rajkot, 360004, India
Date of Birth/Age :	28.11.1982
Date of Appointment :	07.04.2011
DIN :	03483580
Name :	Abhaykumar Arvindbhai Gandhi
Designation :	Director
Address :	2914 Vaghan Pole, Zaveri Wad Relif Road, Ahmedabad, 38000, India
Date of Birth/Age :	22.05.1974
Date of Appointment :	07.04.2011
DIN :	03483586

KEY EXECUTIVES

Name :	Mr. Deepak Kadia
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Atul Rajarambhai Shah	3500
Manish Harishbhai Acharya	3500
Nirav Yashvantrai Jani	3000
Total	10000

AS ON 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Computer and Computer Peripherals.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai-400013, Maharashtra, India

• HDFC Bank Limited, Bodakdev Branch, Ahmedabad, Gujarat, India

Facilities :

SECURED LOAN	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
HDFC Bank Limited – CC	49.946	0.000
HDFC Car Loan - CIVIC	0.185	0.000
TOTAL	50.131	0.000
UNSECURED LOAN	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Advance From Customers	0.038	0.000
Aditya Informatics Private Limited	0.905	0.000
Anilbhai D Shah Huf	0.800	0.000
Archna K Shah	0.190	0.000
Atul R. Shah - Deposit	1.860	0.000
Atul R. Shah(Huf)	1.915	0.000
Jayaben Harishbhai Acharya	0.175	0.000
Kirti Jagjivandas Thakker	0.400	0.000
Madhuben Rajaram Shah	0.350	0.000
Malti S.Shah	0.450	0.000
Manish H Acharya - Deposit	3.327	0.000
Nirav Y Jani - Deposite	6.690	0.000
Parul Kirti Thakker	1.700	0.000
Rajarambhai B. Shah	4.150	0.000
Rekha D. Mehta	0.200	0.000
Seema A. Shah	0.314	0.000
Sharmilee M. Acharya	3.285	0.000
Sunil V. Shah Huf	0.500	0.000
Ushaben Anilbhai Shah	0.700	0.000
TOTAL	27.949	0.000

Banking Relations :	--
Auditors :
Name :	D. G. Patel and Company Chartered Accountant
Address :	5/A, Dineshnagar Society, Near Naranpura Railway Crossing, Ahmedabad-380013, Gujarat, India
Associates/Subsidiaries :	NA

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- Each	Rs.0.100 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- 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		4.326	0.000	0.000
4] (Accumulated Losses)		0.000	[0.007]	0.000
NETWORTH		4.426	0.093	0.100
LOAN FUNDS
1] Secured Loans		50.131	0.000	0.000
2] Unsecured Loans		27.949	0.000	0.000
TOTAL BORROWING		78.080	0.000	0.000
DEFERRED TAX LIABILITIES		0.047	0.000	0.000
TOTAL		82.553	0.093	0.100
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.538	0.000	0.000
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	50.612	0.477	0.000
	Sundry Debtors	91.855	0.000	0.000
	Cash & Bank Balances	0.641	0.074	0.078
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.461	0.024	0.000
Total Current Assets		145.569	0.575	0.078
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	63.580	0.510	0.006
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	1.995	0.000	0.000
Total Current Liabilities		65.575	0.510	0.006
Net Current Assets		79.994	0.65	0.072
MISCELLANEOUS EXPENSES		0.021	0.028	0.028
TOTAL		82.553	0.093	0.100

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL (A)	958.424	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	NA	NA
Less	PROFIT/LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	NA
Less	FINANCIAL EXPENSES / INTEREST (D)		5.780	NA
	PROFIT/LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		NA	NA
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.676	NA
	PROFIT / LOSS BEFORE TAX (E-F) (G)		6.310	[0.007]
Less	TAX (I)		1.977	0.000
	PROFIT / LOSS AFTER TAX (G-I) (J)		4.333	[0.007]
	BALANCE CARRIED TO THE B/S		433.28	[0.007]

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.45	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.26	[1.22]	NA
Return on Investment (ROI) (PBT/Networth)		1.43	[0.07]	NA
Debt Equity Ratio (Total Liability/Networth)		32.45	5.48	0.06
Current Ratio (Current Asset/Current Liability)		2.22	1.13	13.00

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAIL

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sundry Creditors for Expenses	62.709	0.009	0.006
Sundry Creditors for Goods	0.871	0.501	0.000
Total	63.580	0.510	0.006

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	No
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

Bankers Charges Report as per Registry

Corporate identity number of the company	U72100GJ2006PTC048546
Name of the company	AEGIS INFOWARE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	230, Platinum Plaza, Opposite IOC Petrol Pump, Judges Bunglow Road, Bodakdev, Ahmedabad-380015, Gujarat, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10220972
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai-400013, Maharashtra, India Email ID: RBBform8@hdfcbank.com
Nature of instrument creating charge	Supplementary Letter of Hypothecation
Date of instrument Creating the charge	30.07.2011
Amount secured by the charge	Rs.70.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment On Demand Margin As may be stipulated by the bank from time to time. Extent and Operation of the charge Hypothecation by way of First Charge on Company's Stocks, Book Debts etc., to secure as a continuing security for the repayment of Rs.70.000 millions, together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Short particular of the property or asset(s) charged	Stock in Trade, consisting of raw materials, goods in process of manufacturing finished goods, and other merchandise whatsoever being movable properties All the debts, that is, all the book debts, outstanding, monies receivables, claims, bills, invoice documents, contracts, guarantees, and rights
Date of last modification prior to the present modification	02.02.2011
Particulars of the present modification	The Charge shall now stand increased from to Rs. 50.000 millions to Rs. 70.000 millions against the security of Stocks and Book Debts of the Company.

Bankers Charges Report as per Registry

Corporate identity number of the company	U72100GJ2006PTC048546
Name of the company	AEGIS INFOWARE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	230, Platinum Plaza, Opposite IOC Petrol Pump, Judges Bunglow Road, Bodakdev, Ahmedabad-380015, Gujarat, India
This form is for	Creation of charge
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai-400013, Maharashtra, India Email ID: RBBform8@hdfcbank.com
Nature of instrument creating charge	Letter of Hypothecation
Date of instrument Creating the charge	26.05.2010
Amount secured by the charge	Rs.35.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment On Demand Margin Company shall at all times during the continuance of this security maintain the said debts of a sufficient amount to provide the margin of security as may from time to time advised by the Bank. Extent and Operation of the charge Hypothecation by way of First Charge on Company's Stocks, Book Debts etc., to secure as a continuing security as mentioned in Column No.15 below for the repayment of Rs.35.000 millions, together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Short particular of the property or asset(s) charged	i) All the stock in trade both present and future consisting of raw materials, finished goods, goods in process of manufacturing and ii) All the book-debts, outstanding monies receivables, claims and bills which are now due and owing or which may at any time hereafter during the continuance

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.54.73
UK Pound	1	Rs.88.61
Euro	1	Rs.71.34

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	SDA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.