MIRA INFORM REPORT

Report Date :

17.12.2013

IDENTIFICATION DETAILS

Name :	ABC CONSULTANTS PRIVATE LIMITED
Registered Office :	3, Decres Lane, Kolkata – 700 069, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	30.06.1973
Com. Reg. No.:	21-028870
Capital Investment / Paid-up Capital :	Rs.18.250 Millions
CIN No.: [Company Identification No.]	U65110WB1973PTC028870
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the Business of roots in Management Consulting enable us to Bring a Unique Approach to Requirement.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 2100000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profitability of the company seems to be decent. General financial position of the company appears to be sound and healthy. Trade relations are fair. Business is active. Payment terms are usually correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES:

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6 % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

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 :	3, Decres Lane, Kolkata – 700 069, West Bengal, India
Tel. No.:	91-33-22420533/ 22666237
Fax No.:	91-33-22420597
E-Mail :	Sajjan.agrawal@abcconsultants.in chairman@abcconsultants.in info@abcconsultants.in
Website :	www.abcconsultants.in
Head Count Office :	301, Chandra Bhavan, 67-68, Nehru Place, New Delhi – 110 019, India
Corporate Office :	301, Eros Corporate Tower, Nehru Place, New Delhi – 110 019, India
Branch :	Popular Press Building, 35 C, Pandit M. M. Malvia Road, Tardeo, Mumbai – 400 034, India
Branches :	Located At : · Ahmedabad · Bangalore · Chennai · Dubai · Hyderabad · Kolkata · New Delhi · Pune

DIRECTORS

AS ON 19.09.2013

Name :

Mr. Shiv Agrawal

Designation :

Managing Director

Address :

52 B, Ballygunge Circular Road, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

29.07.1974

Date of Appointment :

01.04.2004

Voter ID No.:

WB23146150002

DIN No.:

00040199

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	U65921WB1994PTC062104	FIONA LEASEHOLD PRIVATE LIMITED	Director	04/03/1994	04/03/1994	-	Active	NO
2	U74140HR1997PTC037178	ACTUATE BUSINESS CONSULTING PRIVATE LIMITED	Director	25/11/2002	25/11/2002	21/07/2007	Active	NO
3	U65110WB1973PTC028870	A B C CONSULTANTS PRIVATE LIMITED	Managing director	01/04/2012	01/04/2004	-	Active	NO
4	U74900WB2013PTC189702	HEADHONCHOS SOLUTIONS PRIVATE LIMITED	Director	11/01/2013	11/01/2013	-	Active	NO

Name :

Mr. Bishwanath Prasad Agrawal

Designation :

Whole-time Director

Address :

52 B, Ballygunge Circular Road, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

01.01.1940

Date of Appointment :

30.06.1973

Voter ID No.:

WB23146150351

DIN No.:

00022479

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	U65110WB1973PTC028870	A B C CONSULTANTS PRIVATE LIMITED	Whole-time director	01/04/2012	30/06/1973	-	Active	NO
2	U74140WB1982PTC034785	SUVARNA COMMERCIAL PRIVATE LIMITED	Director	16/04/1982	16/04/1982	-	Active	NO
3	U74140HR1997PTC037178	ACTUATE BUSINESS CONSULTING PRIVATE LIMITED	Director	22/12/1997	22/12/1997	21/07/2007	Active	NO
4	U80904WB1999PTC090139	ABC ASSESSMENT SERVICES PRIVATE LIMITED	Director	26/08/1999	26/08/1999	-	Active	NO
5	U74140WB1991PTC094523	ACCORD GROUP (INDIA) PRIVATE LIMITED	Director	17/03/2007	06/07/2001	13/01/2012	Active	NO
6	U74995WB2001PTC093446	ABC PLACEMENTS PRIVATE LIMITED	Director	11/07/2001	11/07/2001	-	Active	NO
7	U74140DL2005PTC183947	EXPERIS SOLUTIONS PRIVATE LIMITED	Director	17/06/2005	17/06/2005	02/01/2007	Active	NO
8	U74910DL1997PTC085591	MANPOWERGROUP SERVICES INDIA PRIVATE LIMITED	Director	01/10/2005	01/10/2005	16/10/2008	Active	NO
9	U74999WB2010PTC154331	BPA ASSOCIATES MANAGEMENT PRIVATE LIMITED	Director	28/10/2010	28/10/2010	-	Active	NO
10	U65921WB1994PTC062104	FIONA LEASEHOLD PRIVATE LIMITED	Director	01/06/2012	01/06/2012	-	Active	NO

Name :

Mr. Surojit Chattoraj

Designation :

Director

Address :

Flat No.156, Sector-A, Pocket-C, Vasant Kunj, New Delhi – 110 070, India

Date of Birth/Age :

04.01.1963

Date of Appointment :

21.04.2010

Voter ID No.:

WBV0589713

DIN No.:

03048807

Name :

Mr. Ajay Sood

Designation :

Whole-time Director

Address :

13 E, Pocket-L, Sheikh Sarai Phase-II, New Delhi – 110 017, India

Date of Birth/Age :

01.01.1967

Date of Appointment :

09.05.2011

Voter ID No.:

NEC0853275

DIN No.:

03517303

Name :

Mr. Siddharth Raisurana

Designation :

Whole-time Director

Address :

Flat No.902, Anmol Enclave, S V Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India

Date of Birth/Age :

09.09.1972

Date of Appointment :

02.05.2012

DIN No.:

05268407

Name :

Mr. Ananthanarayanan Sankara Narayanan

Designation :

Director

Address :

Old No.10/ New No.12, First Avenue, Harrington Road, Chetpet, Chennai – 600 031, Tamilnadu, India

Date of Birth/Age :

29.07.1942

Date of Appointment :

02.05.2012

DIN No.:

00385632

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	U74899DL1995PLC064560	BIRLASOFT (INDIA) LIMITED	Director	16/05/2000	16/05/2000	-	Active	NO
2	U74140WB1991PTC094523	ACCORD GROUP (INDIA) PRIVATE LIMITED	Director	01/04/2002	01/04/2002	27/03/2008	Active	NO
3	L34103WB1942PLC018967	HINDUSTAN MOTORS LIMITED	Director	24/05/2004	24/05/2004	-	Active	NO
4	U74999MH1932PLC001910	NEOSYM INDUSTRY LIMITED	Director	06/07/2004	06/07/2004	-	Active	NO
5	U34103MP2005PLC017319	AVTEC LIMITED	Nominee director	28/06/2005	28/06/2005	-	Active	NO
6	U65110WB1973PTC028870	A B C CONSULTANTS PRIVATE LIMITED	Director	02/05/2012	02/05/2012	21/11/2013	Active	NO

MAJOR SHAREHOLDERS

AS ON 19.09.2013

Names of Shareholders	No. of Shares
Bishwanath Prasad Agrawal	364999
Suvarna Kumari Agrawal	364999
Shiv Agrawal	364999
Toral Patel	364999
Sonal Agrawal	364999
BPA Associates Management Private Limited, India	5
Total	1825000

Equity Share Break up (Percentage of Total Equity)

AS ON 19.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the Business of roots in Management Consulting enable us to Bring a Unique Approach to Requirement.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ICICI Bank Limited

· Bank of Baroda

· State Bank of India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Short Term Borrowings
Bank Overdraft*	34.607	0.000
Total	34.607	0.000

NOTE:

Short Term Borrowings

*Bank Overdraft accounts with ICICI Bank and Bank of Baroda are Secured by Pledge of Fixed Deposit Receipts.

Banking Relations :	--
Auditors :
Name :	B Thakur and Company Chartered Accountants
Address :	58-D, Alipore Road, Kolkata – 700 027, West Bengal, India
PAN No.:	ABIPT7712P
Subsidiary Company :	· Fiona Leasehold Private Limited [U65921WB1994PTC062104] · ABC Consultants (UK) Private Limited · ABC Consultants Hong Kong Limited

CAPITAL STRUCTURE

AS ON 19.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1900000	Equity Shares	Rs. 10/- each	Rs.19.000 Millions
50000	Preference Shares	Rs. 100/- each	Rs.5.000 Millions
	Total		Rs.24.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1825000	Equity Shares	Rs. 10/- each	Rs.18.250 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	18.250	18.250	18.250
(b) Reserves & Surplus	526.341	541.991	574.084
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	544.591	560.241	592.334
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	2.280	0.916
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.000	2.280	0.916
(4) Current Liabilities
(a) Short term borrowings	34.607	0.000	0.000
(b) Trade payables	2.377	3.084	0.761
(c) Other current liabilities	22.026	52.563	35.748
(d) Short-term provisions	49.280	44.291	28.772
Total Current Liabilities (4)	108.290	99.938	65.281
TOTAL	652.881	662.459	658.531
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	100.218	99.955	81.739
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	33.990	33.134	32.872
(c) Deferred tax assets (net)	0.187	0.000	0.000
(d) Long-term Loan and Advances	174.065	105.143	27.960
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	308.460	238.232	142.571
(2) Current assets
(a) Current investments	20.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	89.833	90.460	82.590
(d) Cash and cash equivalents	224.246	315.149	415.117
(e) Short-term loans and advances	10.342	18.618	18.253
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	344.421	424.227	515.960
TOTAL	652.881	662.459	658.531

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		863.814	758.486	682.959
		Other Income		27.215	41.053	NA
		TOTAL (A)		891.029	799.539	NA
Less	EXPENSES
		Employee Benefits Expenses		496.732	431.275
		Other Expenses		326.509	330.394
		TOTAL (B)		823.241	761.669	NA
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			67.788	37.870	NA
Less	FINANCIAL EXPENSES (D)			1.205	0.000	NA
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			66.583	37.870	NA
Less	DEPRECIATION/ AMORTISATION (F)			28.563	28.202	NA
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			38.020	9.668	219.624
Less	TAX (H)			13.102	3.582	72.591
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			24.918	6.086	147.033
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			402.689	435.392	347.772
Less	APPROPRIATIONS
			Transfer to General Reserve	2.500	0.610	14.800
			Proposed Dividend	34.675	32.850	20.075
			Tax on Dividend	5.893	5.329	6.288
			Interim Dividend	0.000	0.000	18.250
	BALANCE CARRIED TO THE B/S			384.539	402.689	435.392
	Earnings Per Share (Rs.)			13.65	3.33	80.57

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.80	0.76	NA
Net Profit Margin (PBT/Sales)	(%)	4.40	1.27	32.16
Return on Total Assets (PBT/Total Assets}	(%)	8.55	1.84	36.74
Return on Investment (ROI) (PBT/Networth)		0.07	0.02	0.37
Debt Equity Ratio (Total Debt /Networth)		0.06	0.00	0.00
Current Ratio (Current Asset/Current Liability)		3.18	4.24	7.90

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	Yes
34]	External Agency Rating, if available	No

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90255213	27/11/2003	654,000.00	ABN AMRO BANK	18A, BRABOURNE ROAD, KOLKATA – 700 001, WEST BENGAL, INDIA	-

FIXED ASSETS:

· Land

· Building

· Plant and Equipment

· Furniture and Fixtures

· Office Equipments

· Air – Conditioners

· Electrical Installations

· Vehicles

· Fire Extinguishers

· Generator

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.62.10
UK Pound	1	Rs.101.27
Euro	1	Rs.85.43

INFORMATION DETAILS

Report Prepared by :

NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.