MIRA INFORM REPORT

Report Date :

31.08.2013

IDENTIFICATION DETAILS

Name :	EKA SOFTWARE SOLUTIONS PRIVATE LIMITED
Registered Office :	Vrindavan Tech Village SEZ, Phase II, 4^th Floor, 2A, East Tower, Outer Ring Road, Varthur Hobli, Bangalore – 560037, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	04.08.2004
Com. Reg. No.:	08-034432
Capital Investment / Paid-up Capital :	Rs. 0.130 Million
CIN No.: [Company Identification No.]	U72200KA2004PTC034432
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of developing and licensing of technology based software products and providing of consultancy and related services.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 1600000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “Sybex Mauritius Limited, Mauritius” is an established company having satisfactory track record. Overall financial position of the company appears to be satisfactory. Trade relations are fair. Business is active. Payment terms are usually correct. The company can be considered for business dealing at usual trade terms and condition.

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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

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 / Headquarters:	Vrindavan Tech Village SEZ, Phase II, 4^th Floor, 2A, East Tower, Outer Ring Road, Varthur Hobli, Bangalore – 560037, Karnataka, India
Tel. No.:	91-80-40819200
Fax No.:	91-80-40819201
E-Mail :	Ragunathan.s@ekaplus.com manav@ekaplus.com
Website :	www.ekaplus.com
Overseas Office:	Located at · Asia Pacific · Europe · Americas · Canada

DIRECTORS

As on 22.08.2012

Name :

Mr. Manav Garg

Designation :

Director

Address :

C-902, Prestige, St. John Wood 80, St John Cross Road, Bangalore – 560029, Karnataka, India

Date of Birth/Age :

05.01.1974

Date of Appointment :

04.08.2004

DIN No.:

01620581

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	U72200KA2004PTC034432	EKA SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	04/08/2004	04/08/2004	-	Active	NO
2	U72200KA2007PTC043734	REFTREE SOLUTIONS PRIVATE LIMITED	Director	29/08/2007	29/08/2007	-	Active	NO
3	U72200KA2011PTC060690	UNBXD SOFTWARE PRIVATE LIMITED	Nominee director	30/04/2012	30/04/2012	-	Active	NO

Name :

Mr. Ashok Mukherjee

Designation :

Director

Address :

G703. Adarsh Gardens, 47^th Cross, 2^nd Main, 8^th Block, Jayanagar, Bangalore – 560082, Karnataka, India

Date of Birth/Age :

10.01.1951

Date of Appointment :

18.03.2008

DIN No.:

00333939

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	U66020MH1995PTC225339	SECURITY CARDS(INDIA) PRIVATE LIMITED	Managing director	26/09/1995	26/09/1995	17/07/2012	Active	NO
2	U74140KA2001PTC029741	FIRST PACIFIC MANAGEMENT CONSULTING PRIVATE LIMITED	Managing director	08/11/2001	08/11/2001	-	Active	NO
3	U63090DL2007FTC167029	DIETHELM TRAVEL (INDIA) PRIVATE LIMITED	Director	16/08/2007	16/08/2007	-	Active	NO
4	U72200KA2004PTC034432	EKA SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	18/03/2008	18/03/2008	-	Active	NO

Name :

Mr. Shiraz Erach Poonevala

Designation :

Director

Address :

I D Cosmopous, 21 LD Ruparel Marg, Malabar Hills, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

02.11.1964

Date of Appointment :

18.03.2008

DIN No.:

02133897

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	U72200KA2004PTC034432	EKA SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	18/03/2008	18/03/2008	-	Active	NO
2	U45203AP2001PTC038955	VIZAG SEAPORT PRIVATE LIMITED	Alternate director	18/06/2008	18/06/2008	-	Active	NO
3	U15493DL1991PTC205408	ADM AGRO INDUSTRIES KOTA AND AKOLA PRIVATE LIMITED	Director	30/06/2009	30/06/2009	16/08/2011	Active	NO
4	U24132TN2010PTC077174	EXUBER CHEMICALS PRIVATE LIMITED	Additional director	17/06/2011	17/06/2011	-	Active	NO

Name :

Mr. Kirit Kumar Chimanlal Shah

Designation :

Director

Address :

35/45, Sukhumvit SOI 11 Bangkok, Thailand

Date of Birth/Age :

30.09.1953

Date of Appointment :

18.03.2008

DIN No.:

00344087

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	U23203TN1994PLC026960	SOUTHERN LPG LIMITED	Director	25/09/1996	25/09/1996	-	Active	NO
2	U45203AP2001PTC038955	VIZAG SEAPORT PRIVATE LIMITED	Director	18/06/2008	15/07/2004	-	Active	NO
3	U45205WB1999PTC090733	INTERNATIONAL SEAPORTS (HALDIA) PRIVATE LIMITED	Director	11/07/2011	09/06/2006	-	Active	NO
4	U72200KA2004PTC034432	EKA SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	18/03/2008	18/03/2008	-	Active	NO
5	U45200DL2008PTC180442	INTEGRATED REALTY PRIVATE LIMITED	Director	03/07/2008	03/07/2008	01/12/2010	Active	NO
6	U15493DL1991PTC205408	ADM AGRO INDUSTRIES KOTA AND AKOLA PRIVATE LIMITED	Director	30/06/2009	30/06/2009	16/08/2011	Active	NO
7	U24132TN2010PTC077174	EXUBER CHEMICALS PRIVATE LIMITED	Additional director	17/06/2011	17/06/2011	-	Active	NO

Name :

Mr. Sandeep Shiamsunder Singhal

Designation :

Director

Address :

Flat No. 241, 24^th Floor, Tahnee Heights, Petit Hall, D Building, 66Nepean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

21.10.1966

Date of Appointment :

17.03.2009

DIN No.:

00422796

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	U73900MH1998PTC116053	NETMAGIC SOLUTIONS PRIVATE LIMITED	Director	09/07/2001	09/07/2001	07/09/2010	Active	NO
2	U72300MH2000PLC124984	KPIT GLOBAL SOLUTIONS LIMITED	Director	27/07/2001	27/07/2001	01/12/2008	Active	NO
3	U72200MH1999PTC123007	EVENTURES INDIA PRIVATE LIMITED	Director	27/07/2001	27/07/2001	-	Active	NO
4	U74300MH2000PTC126354	IGNITEE DIGITAL SOLUTIONS PRIVATE LIMITED	Director	30/11/2011	13/08/2001	-	Active	NO
5	U74300MH1999PTC120140	CONTESTS2WIN COM INDIA PRIVATE LIMITED	Nominee director	29/09/2001	29/09/2001	-	Active	NO
6	U74140MH2001PTC133168	MEDUSIND SOLUTIONS INDIA PRIVATE LIMITED	Director	27/09/2006	20/04/2006	-	Active	NO
7	U51395MH2003PTC142173	MOBILE2WIN INDIA PRIVATE LIMITED	Director	23/06/2006	23/06/2006	-	Active	NO
8	U65999MH2007PTC167234	NEXUS INDIA CAPITAL ADVISORS PRIVATE LIMITED	Managing director	12/08/2008	24/01/2007	-	Active	NO
9	U51220MH2004PTC145857	SUMINTER INDIA ORGANICS PRIVATE LIMITED	Director	04/12/2007	04/12/2007	-	Active	NO
10	U74300MH2005PTC150598	MEDIA2WIN INDIA PRIVATE LIMITED	Nominee director	30/06/2008	30/06/2008	11/04/2012	Active	NO
11	U72200MH2006PTC160596	GAMES2WIN INDIA PRIVATE LIMITED	Nominee director	30/06/2008	30/06/2008	11/04/2012	Active	NO
12	U72200KA2004PTC034432	EKA SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	17/03/2009	17/03/2009	-	Active	NO
13	U72200AP1996PTC024351	DECCAN HEALTH CARE PRIVATE LIMITED	Director	29/09/2009	10/07/2009	-	Active	NO
14	U72200KA1999PTC025232	MISTRAL SOLUTIONS PRIVATE LIMITED	Director	26/08/2010	19/01/2010	-	Active	NO
15	U74999DL2003PTC122939	NORTH END FOODS MARKETING PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
16	U93090DL2009PTC193172	SOHAN LAL COMMODITY MANAGEMENT PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
17	U41000MH2010FTC208464	JALDHARA TECHNOLOGIES PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
18	U29253MH2007PTC172479	SEDEMAC MECHATRONICS PRIVATE LIMITED	Director	30/09/2011	10/06/2011	-	Active	NO
19	U36109GJ2011PTC063731	KRIBHA HANDICRAFTS PRIVATE LIMITED	Director	05/08/2011	05/08/2011	-	Active	NO
20	U65993TN1980PTC008184	BEE PEE JAIN FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	28/06/2012	13/08/2011	-	Active	NO
21	U93000DL2011PTC219498	LAPIS MARKETING SERVICES PRIVATE LIMITED	Nominee director	23/08/2011	23/08/2011	10/04/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 22.08.2012

Names of Shareholders	Address:	No. of Shares
Manav Garg	C-902, Prestige, St. John Wood 80, St John Cross Road, Bangalore – 560029, Karnataka, India	1
Sybex Mauritius Limited, Mauritius	5, President John Kennedy Road, Port Louis, Mauritius	12952
Total		12953

Equity Share Break up (Percentage of Total Equity)

As on 22.08.2012

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
Bodies corporate
Directors or relatives of Directors
Other top fifty shareholders
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of developing and licensing of technology based software products and providing of consultancy and related services.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Short-term borrowings
Cash credit from other bank	22.127	17.804
Total	22.127	17.804
NOTE: Cash credit from bank secured by first charge on sundry debtors of the company and collateral on fixed deposit of the company. The cash credit is repayable on demand. Interest rate on cash credit is basic rate + 4% spread and during the year this has ranged from 12.7% per annum to 14% per annum.

Banking Relations :
Auditors :
Name :	BSR and Company Chartered Accountants
Address :	Maruthi Infotech Center, 11-12/1 Inner Ring Road, Bangalore – 560071, Karnataka, India
Tel. No.:	91-80-39606000
Fax No.:	91-80-39806999
PAN N Income-tax PAN of auditor or auditor's firm :	AAIFB7357B
Holding Company:	· Sybex Mauritius Limited, Mauritius
Subsidiaries :	· Eka Software Solutions Inc · Eka USA Inc
Parties where significant influence exits (other related parties) and with whom transactions have taken place during the year.	· First Pacific Management Consulting Private Limited, India · Reftree Solutions Private Limited, India · Sybex Pte Limited, Singapore

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs. 40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12953	Equity Shares	Rs.10/- each	Rs. 0.130 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.130	0.130
(b) Reserves & Surplus	406.420	329.944
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	406.550	330.074
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	39.273	50.369
(d) long-term provisions	10.401	7.817
Total Non-current Liabilities (3)	49.674	58.186
(4) Current Liabilities
(a) Short term borrowings	22.127	17.804
(b) Trade payables	36.925	1.460
(c) Other current liabilities	139.057	88.724
(d) Short-term provisions	24.676	1.591
Total Current Liabilities (4)	222.785	109.579
TOTAL	679.009	497.839
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	38.738	47.887
(ii) Intangible Assets	37.289	33.029
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	163.432	110.276
(b) Non-current Investments	0.452	4.702
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	11.801	12.646
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	251.712	208.540
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	266.012	155.150
(d) Cash and cash equivalents	92.751	64.772
(e) Short-term loans and advances	21.770	32.709
(f) Other current assets	46.764	36.668
Total Current Assets	427.297	289.299
TOTAL	679.009	497.839

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		60.385
3] Reserves & Surplus		97.138
4] (Accumulated Losses)		0.000
NETWORTH		157.623
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		157.623
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		63.375
Capital work-in-progress		20.010
INVESTMENT		4.250
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	37.528
	Cash & Bank Balances	59.057
	Other Current Assets	41.642
	Loans & Advances	33.994
Total Current Assets		172.221
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	23.157
	Other Current Liabilities	71.650
	Provisions	7.426
Total Current Liabilities		102.233
Net Current Assets		69.988
MISCELLANEOUS EXPENSES		0.000
TOTAL		157.623

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	559.714	395.730
		Other Income	10.200	4.710
		TOTAL (A)	569.914	400.440	367.852
Less	EXPENSES
		Employees benefits Expenses	242.650	196.602
		Operating Expenses	181.446	160.153
		Prior Period Expenses	0.000	27.999
		TOTAL (B)	424.096	384.754	308.366 (Including Financial Expenses)
Less	PROFIT (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		145.818	15.686
Less	FINANCIAL EXPENSES (D)		1.135	0.191
	PROFIT (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		144.683	15.495	59.486
Less/ Add	DEPRECIATION/ AMORTISATION (F)		48.229	34.811	0.600
	PROFIT (LOSS) BEFORE TAX (E-F) (G)		96.454	(19.316)	58.886
Less	TAX (H)		22.330	0.750	7.646
	PROFIT (LOSS) AFTER TAX (G-H) (I)		74.124	(20.066)	51.240
	EARNINGS IN FOREIGN CURRENCY
		Income from sale of software licenses and related services	559.682	391.728	366.293
	TOTAL EARNINGS		559.682	391.728	758.021
	IMPORTS
		Capital Goods	2.791	1.704	1.986
	TOTAL IMPORTS		2.791	1.704	1.986
	Earnings (loss) Per Share (Rs.)		5.72	(1.61)	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	13.01	(5.01)	13.93
Net Profit Margin (PBT/Sales)	(%)	17.23	(4.88)	NA
Return on Total Assets (PBT/Total Assets}	(%)	18.72	(5.05)	34.19
Return on Investment (ROI) (PBT/Networth)		0.24	(0.06)	0.37
Debt Equity Ratio (Total Debt /Networth)		0.05	0.05	0.00
Current Ratio (Current Asset/Current Liability)		1.92	2.64	1.68

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

NOTE: Registered office of the company has been shifted from 16/1, 2^nd Floor, Wings, Cambridge Road, Ulsoor, Bangalore – 560008, Karnataka India to the present address w.e.f 31.08.2010

BUSINESS DEVELOPMENTS AND OUTLOOK

During the year the company got two big orders from Australia and Europe. These are expected to generate good cash flow in coming years.

COMPANY OVERVIEW

The company was incorporated on August 4, 2004 as a private limited company under the companies Act, 1956 with its registered office at Bangalore. The company is a wholly owned subsidiary of Sybex Mauritius Limited.

The company is engaged in the business of developing and licensing of technology based software products and providing of consultancy and related services to its client.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10219668	11/02/2013 *	100,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA	B72064850

NOTE: * Date of charge modification

CONTINGENT LIABILITIES: (As on 31.03.2012)

The Company has the following contingent liabilities and capital commitment at 31 March 2012 and 31 March 2011.

· Counter Gurantee given to bank for STPI – Rs.0.035 Million (Previous Year Rs. 0.035 Million)

· Corporate Gurantee given on behalf of US Subsidiary – Rs. 7.469 Millions (Previous Year Rs.6.519 Millions)

· Disputed Claim by a former employees Rs. Nil (Previous Year Rs.0.446 Million)

· Forward contact outstanding

FIXED ASSETS

Tangible Assets

· Furniture and Fixture

· Office Equipment

· Computers and Peripherals

· Leasehold Improvements

Intangible Assets

· Company 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 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.66.57
UK Pound	1	Rs.103.34
Euro	1	Rs.88.16

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NB		NEW BUSINESS

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