1. Summary Information

		Country	India
Company Name	SEA TV NETWORK LIMITED	Principal Name 1	Mr. Neeraj Jain
Status	Satisfactory	Principal Name 2	Mr. Akshay Kumar Jain
		Registration #	20-028650
Street Address	148, Manas Nagar, Shahganj - 282010, Uttar Pradesh
Established Date	21.05.2004	SIC Code	--
Telephone#	91-562-4036666	Business Style 1	Providing Services
Fax #	91-562-2511070	Business Style 2	--
Homepage	http://www.seatvnetwork.com	Product Name 1	Multi System Operator (MSO)
# of employees	370 (Approximately)	Product Name 2	--
Paid up capital	Rs. 120,200,000/-	Product Name 3	--
Shareholders	Promoter and Promoter Group 58.23%, Public Shareholding 41.77%	Banking	Allahabad Bank
Public Limited Corp.	Yes	Business Period	9 Years
IPO	Yes	International Ins.	-
Public Enterprise	Yes	Rating	Ba (45)
Related Company
Relation	Country	Company Name	CEO
Reporting entity	--	Sea TV Network Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	390,658,000	Current Liabilities	66,827,000
Inventories	0,000	Long-term Liabilities	49,296,000
Fixed Assets	188,022,000	Other Liabilities	14,653,000
Deferred Assets	0,000	Total Liabilities	130,776,000
Invest& other Assets	144,122,000	Retained Earnings	471,826,000
		Net Worth	592,026,000
Total Assets	722,802,000	Total Liab. & Equity	722,802,000
Total Assets (Previous Year)	847,436,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	116,503,000	Net Profit	11,469,000
Sales (Previous yr)	100,043,000	Net Profit (Prev.yr)	16,792,000

MIRA INFORM REPORT

Report Date :

08.07.2013

IDENTIFICATION DETAILS

Name :	SEA TV NETWORK LIMITED
Registered Office :	148, Manas Nagar, Shahganj - 282010, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	21.05.2004
Com. Reg. No.:	20-028650
Capital Investment / Paid-up Capital :	Rs. 120.200 Millions
CIN No.: [Company Identification No.]	L92132UP2004PLC028650
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Providing Services of Multi System Operator (MSO).
No. of Employees :	370 (Approximately)

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 2368000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. 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 normal business dealings 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

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 :	148, Manas Nagar, Shahganj - 282010, Uttar Pradesh, India
Tel. No.:	91-562-4036666/ 2512122/ 2512123/ 223
Fax No.:	91-562-2511070
E-Mail :	admin@seatvnetwork.com cs@seatvnetwork.com
Website :	http://www.seatvnetwork.com

DIRECTORS

AS ON 31.03.2012

Name :

Mr. Neeraj Jain

Designation :

Managing Director

Date of Birth/Age :

38 Years

Experience :

21 Years

Date of Appointment :

15.01.2011

DIN No.:

00576497

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	U65991UP1996PLC020428	SHRI PARSWA FINVEST LIMITED	Whole-time director	02/08/1996	02/08/1996	07/01/2008	Active	NO
2	L92132UP2004PLC028650	SEA TV NETWORK LIMITED	Managing director	15/01/2011	21/05/2004	-	Active	NO
3	U93000UP2007PTC034077	SEA AD SOLUTION PRIVATE LIMITED	Director	20/10/2007	20/10/2007	08/01/2008	Active	NO
4	U70200UP2007PTC034076	SEA REAL ESTATES PRIVATE LIMITED	Director	20/10/2007	20/10/2007	08/01/2008	Active	NO
5	U74120UP2011PLC043117	SEA NEWS NETWORK LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
6	U74120UP2011PLC043119	JAIN TELEMEDIA SERVICES LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
7	U22222UP2011PLC043118	SEA PRINT MEDIA AND PUBLICATION LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
8	U74120UP2011PLC045329	JINVANI MEDIA VENTURE LIMITED	Director	20/06/2011	20/06/2011	-	Active	NO
9	U74120UP2011PLC045328	NAMOKAR GLOBAL BROADCASTING LIMITED	Director	20/06/2011	20/06/2011	-	Active	NO
10	U74120UP2012PTC053754	SEA SHOPPERS PRIVATE LIMITED	Director	22/11/2012	22/11/2012	-	Active	NO

Name :

Mr. Akshay Kumar Jain

Designation :

Director

Date of Appointment :

10.01.2011

DIN No.:

00509865

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	L92132UP2004PLC028650	SEA TV NETWORK LIMITED	Whole-time director	15/01/2011	21/05/2004	-	Active	NO
2	U74120UP2011PLC043117	SEA NEWS NETWORK LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
3	U74120UP2011PLC043119	JAIN TELEMEDIA SERVICES LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
4	U22222UP2011PLC043118	SEA PRINT MEDIA AND PUBLICATION LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
5	U74120UP2011PLC045329	JINVANI MEDIA VENTURE LIMITED	Director	20/06/2011	20/06/2011	-	Active	NO
6	U74120UP2011PLC045328	NAMOKAR GLOBAL BROADCASTING LIMITED	Director	20/06/2011	20/06/2011	-	Active	NO
7	AAB-0229	SEA VAISHNO CABLE NETWORK LLP	Body corporate as Designated Partner	17/07/2012	17/07/2012	-	Active	NO

Name :

Mr. Pankaj Jain

Designation :

Whole time Director

Date of Birth/Age :

42 Years

Date of Appointment :

15.01.2011

DIN No.:

00509839

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	U65991UP1996PLC020428	SHRI PARSWA FINVEST LIMITED	Director	20/01/2002	20/01/2002	07/01/2008	Active	NO
2	L92132UP2004PLC028650	SEA TV NETWORK LIMITED	Whole-time director	15/01/2011	21/05/2004	-	Active	NO
3	U74120UP2011PLC043117	SEA NEWS NETWORK LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
4	U74120UP2011PLC043119	JAIN TELEMEDIA SERVICES LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
5	U22222UP2011PLC043118	SEA PRINT MEDIA AND PUBLICATION LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
6	U74120UP2011PLC045329	JINVANI MEDIA VENTURE LIMITED	Director	20/06/2011	20/06/2011	-	Active	NO
7	U74120UP2011PLC045328	NAMOKAR GLOBAL BROADCASTING LIMITED	Director	20/06/2011	20/06/2011	-	Active	NO
8	U74120UP2012PTC053754	SEA SHOPPERS PRIVATE LIMITED	Director	22/11/2012	22/11/2012	-	Active	NO

Name :

Mr. Rajeev Kumar Jain

Designation :

Non Executive Director

Date of Birth/Age :

42 Years

Qualification :

Commerce Graduate

Experience :

19 Years

Date of Appointment :

30.09.2009

DIN No.:

01987821

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	Company/ LLP Status	Defaulting status
1	L92132UP2004PLC028650	SEA TV NETWORK LIMITED	Director	30/09/2009	10/01/2008	Active	NO

Name :

Mr. Narendra Kumar Jain

Designation :

Director

Date of Birth/Age :

54 Years

Qualification :

Commerce and Arts Graduate

Experience :

34 Years

Date of Appointment :

30.09.2009

DIN No.:

01985845

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	Company/ LLP Status	Defaulting status
1	L92132UP2004PLC028650	SEA TV NETWORK LIMITED	Director	30/09/2009	16/05/2008	Active	NO

Name :

Mr. Tika Ram Sharma

Designation :

Director

Date of Birth/Age :

69 Years

Qualification :

Post Graduate in Economics and Law Graduate

Date of Appointment :

29.09.2012

DIN No.:

05127777

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	Company/ LLP Status	Defaulting status
1	L92132UP2004PLC028650	SEA TV NETWORK LIMITED	Director	29/09/2012	13/07/2012	Active	NO

KEY EXECUTIVES

Name :	Ashish Mittal
Designation :	Company Secretary and Compliance Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2013

Category of Shareholder	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	6999800	58.23
Sub Total	6999800	58.23
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	6999800	58.23
(B) Public Shareholding
(1) Institutions
Foreign Institutional Investors	5483	0.05
Sub Total	5483	0.05
(2) Non-Institutions
Bodies Corporate	3350248	27.87
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	799452	6.65
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	787180	6.55
Any Others (Specify)	77837	0.65
Non Resident Indians	855	0.01
Clearing Members	76982	0.64
Sub Total	5014717	41.72
Total Public shareholding (B)	5020200	41.77
Total (A)+(B)	12020000	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	12020000	100.00

BUSINESS DETAILS

Line of Business :

Providing Services of Multi System Operator (MSO).

GENERAL INFORMATION

No. of Employees :

370 (Approximately)

Bankers :

Ø Allahabad Bank

Ø Canara Bank

Ø HDFC Bank Limited

Ø Oriental Bank of Commerce

Ø Punjab National Bank

Ø State Bank of India

Ø Syndicate Bank

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
LONG TERM BORROWINGS
From Banks [Secured by hypothecation of cars and guaranteed by one director in one case and by three directors in another case]	1.718	2.862
Total	1.718	2.862

Banking Relations :	--
Statutory Auditors :
Name :	Surendra G. and Company Chartered Accountants
Internal Auditors :
Name :	A.J Associates Chartered Accountants
Reporting entity :	Sea TV Network Limited
Subsidiary companies :	Ø Sea News Network Limited Ø Jinvani Telemedia Service Limited Ø Sea Print Media and Publication Limited
Group Companies :	Ø Jinvani Media Venture Limited Ø Narokar(###) Global Broadcasting Limited

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
17000000	Equity Shares	Rs. 10/- each	Rs. 170.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12020000	Equity Shares	Rs. 10/- each	Rs. 120.200 Millions

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	120.200	120.200
(b) Reserves & Surplus	471.826	460.357
(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)	592.026	580.557
(3) Non-Current Liabilities
(a) long-term borrowings	1.718	2.862
(b) Deferred tax liabilities (Net)	11.486	8.655
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	2.787	2.169
Total Non-current Liabilities (3)	15.991	13.686
(4) Current Liabilities
(a) Short term borrowings	47.578	226.084
(b) Trade payables	31.929	5.973
(c) Other current liabilities	34.898	20.758
(d) Short-term provisions	0.380	0.378
Total Current Liabilities (4)	114.785	253.193
TOTAL	722.802	847.436
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	187.236	124.293
(ii) Intangible Assets	0.786	0.221
(iii) Capital work-in-progress	40.622	5.942
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	103.500	13.500
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	47.930	6.290
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	380.074	150.246
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	119.944	84.862
(d) Cash and cash equivalents	98.934	443.816
(e) Short-term loans and advances	123.850	168.512
(f) Other current assets	0.000	0.000
Total Current Assets	342.728	697.190
TOTAL	722.802	847.436

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		70.000
2] Share Application Money		0.000
3] Reserves & Surplus		33.976
4] (Accumulated Losses)		0.000
NETWORTH		103.976
LOAN FUNDS
1] Secured Loans		67.595
2] Unsecured Loans		1.914
TOTAL BORROWING		69.509
DEFERRED TAX LIABILITIES		6.825
TOTAL		180.310
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		111.397
Capital work-in-progress		2.108
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	66.256
	Cash & Bank Balances	11.235
	Other Current Assets	0.000
	Loans & Advances	6.163
Total Current Assets		83.654
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.853
	Other Current Liabilities	10.140
	Provisions	4.596
Total Current Liabilities		22.589
Net Current Assets		61.065
MISCELLANEOUS EXPENSES		5.740
TOTAL		180.310

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	116.503	100.043	93.677
		Other Income	11.384	17.674	0.948
		TOTAL (A)	127.887	117.717	94.625
Less	EXPENSES
		Employee Benefit Expenses	28.373	21.712
		Other Expenses	69.100	52.758
		TOTAL (B)	97.473	74.470	59.095
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		30.414	43.247	35.530
Less	FINANCIAL EXPENSES (D)		5.204	10.445	6.833
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		25.210	32.802	28.697
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.639	6.852	5.887
	PROFIT BEFORE TAX (E-F) (G)		16.571	25.950	22.810
Less	TAX (H)		5.102	9.158	8.110
	PROFIT AFTER TAX (G-H) (I)		11.469	16.792	14.700
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		45.767	30.975	17.275
Less	APPROPRIATIONS
		Transfer to General Reserve	2.000	2.000	1.000
	BALANCE CARRIED TO THE B/S		55.236	45.767	30.975
	IMPORTS [CIF-Value]		US$ 56360	0.000	0.000
	Earnings Per Share (Rs.)		0.95	1.96	2.15

QUARTERLY RESULTS

PARTICULARS	30.06.2012	30.09.2012	31.12.2012	31.03.2013
	1^st Quarter	2^nd Quarter	3^rd Quarter	4^th Quarter
Sales Turnover	34.700	34.900	36.400	40.700
Total Expenditure	26.200	25.800	26.300	29.500
PBIDT (Excl OI)	8.400	9.100	10.100	11.200
Other Income	0.000	0.000	0.000	0.000
Operating Profit	8.400	9.100	10.100	11.200
Interest	1.500	1.500	1.600	2.100
Exceptional Items	0.000	0.000	0.000	0.000
PBDT	7.000	7.700	8.500	9.100
Depreciation	4.200	2.000	3.200	4.400
Profit Before Tax	2.800	5.700	5.300	4.700
Tax	0.900	2.000	1.700	1.500
Provisions and Contingencies	0.000	0.000	0.000	0.000
Reported PAT	1.900	3.700	3.700	3.200
Extraordinary Items	0.000	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000	0.000
Net Profit	1.900	3.700	3.700	3.200

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	8.97	14.26	15.54
Net Profit Margin (PBT/Sales)	(%)	14.22	25.94	24.35
Return on Total Assets (PBT/Total Assets}	(%)	2.86	19.84	11.69
Return on Investment (ROI) (PBT/Networth)		0.03	0.04	0.22
Debt Equity Ratio (Total Debt/Networth)		0.08	0.39	0.67
Current Ratio (Current Asset/Current Liability)		2.99	2.75	3.70

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	Yes
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

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
SHORT TERM BORROWINGS
From Banks Overdraft [Secured by all movable property of the company whether existing or future and all book debts whether existing or future and guaranteed by pledge of immovable property of two directors]	29.252	29.945
Overdraft [Secured against pledged of FDRs]	18.326	196.139
Total	47.578	226.084

RESULTS OF OPERATIONS

During the financial year 2011-12 Company. On a Consolidated basis, has generated over Rs. 154.940 Millions of revenues and profit after tax of Rs. 12.171 Millions. Corresponding figures for the financial year 2010-11 were revenue of Rs. 117.717 Millions and after tax of Rs. 16.813 Millions.

MANAGEMENT DISCUSSION AND ANALYSIS

ECONOMIC OVERVIEW

GLOBAL ECONOMY

In the year 2011-12, the global economy continues on its path of recovery. Economic activity in developed countries moderated less than expected. But growth remained subdued. On the other hand, economic activity in many emerging economies was buoyant. However, Inflation pressure and signs of overheating emerged, driven in part by strong capital inflows. Expansionary monetary policies adopted by central banks across the world, higher commodity prices and supply constraints saw inflation emerges as a cause for worry, especially in the developing world.

International conditions continued to worsen through 2011. The negative developments in the Eurozone out weighted the small improvements in evidence in the US economy. There pealed attempts to sort out the problems of the Eurozone in high profile Summits did not result in any lasting solution and to that extent by raising expectations made things worse.

INDIAN ECONOMY

According to the Economic Survey of Indian the growth rate of economy is 6.9% mainly due to weakening industrial growth. This indicates a slowdown compared not just to the previous two years, when the economy grew by 8.4%, but also from 2003 to 2011, except2008-09 economic downturn, when the growth rate was 6.7 percent.

But despite the low growth figure of 6.9%. India remains one of the fastest growing economies of the world as all major countries including the fast growth emerging economies are seeing a significant slowdown. The global economic environment which was tenuous at best throughout the year, turned sharply adverse in September, 2011, owing to the turn till in the euro-zone countries. While a large part of the reason for the slowing of the Indian economy can be attributed to global factors, domestic factors also played role. Among these are the tightening of monetary policy owing to high and persistent heading inflation and slowing investment and industrial activity. The Economic Service expects the growth rate of real GDP to pick up to 7.6% in 2012-13 and faster beyond that.

INDIAN MEDIA AND ENTERTAINMENT SECTOR

In 2011, the Indian Media and Entertainment (M and E) Industry registered a growth of 12 percent over 2010, to reach INR 728 billon. The growth trajectory is backed by strong consumption in Tier 2 and 3 cities, continued growth of regional media, and fast increasing new media business Overall, the industry is excepted to register a CAGR of 15percent to touch INR 1,457 billion by 2016. While television continues to be the dominant medium, sectors such as animation and VFX, digital advertising and gaming rate, will continues to be the second largest medium in the Indian M and E Industry. Also the firm industry had a reason to cheer, with multiple movies crossing the INR 1000.000 Millions mark in domestic the artrical collections, and INR 300.000 Millions mark in C and S rights.

Advertising spends across all media accounted for INR 300 billion. In 2011-12, contributing to 41 percent of the overall M and E industry's revenues. Advertising revenues witnessed a growth of 13 percent in 2011-12, as against 17 percent observed in2010.

GROWTH DRIVERS OF INDIAN MEDIA AND ENTERTAINMENT INDUSTRY

- Increase in number of channels : A number of new TV channels continue to appear every year across genres such as general entertainment, new and moves, as well as notice genres such as lifestyle, kids and infotainment.

- Digitization driving growth in subscription revenues: The digitization of TV distribution infrastructure is increasing addressability and plugging revenue leakage in the broadcasting value chain.

- Broadcasting alliances: Broadcasting have formed distribution alliances to strengthen their ability to negotiate with distributors, control their carriage fees and minimize losses in subscription revenues due to underreporting.

- Focus on regional content: regional broadcasters have recently increased their presence in niche genres such as music, youth and comedy in local languages.

- Growing ARPUs, ARPUs are expected to grow, stimulated by the consolidation of analog TV operators and the growth of premium digital TV services.

- Wireless broadband is expected to drives the reach of digital TV Mandatory digitization and force competition has increased pressure on DTH and digital cable operators to roll out premium services including HD, 3D and triple-play.

FUTURE OUTLOOK

Sea TV intends to grow through Diversification and Consolidation in future, Company aims to diversity in the business of Print Media. Broadcasting thereby reducing the risk and uncertainties of existing business apart from diversification company is also looking forward towards consolidation of its existing business by acquiring the majority stake in the business of MSOs operating in the nearby areas of Agra thereby reducing the cost of operations by increasing the Economies of Scale and also increasing turnover due to enhanced negotiation power.

FIXED ASSETS:

Ø Land [Freehold]

Ø Buildings

Ø Plant and Machinery

Ø Furniture and Fixture

Ø Electric Fittings

Ø Computers

Ø Vehicles

Ø 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. 60.34
UK Pound	1	Rs. 90.79
Euro	1	Rs. 77.81

INFORMATION DETAILS

Report Prepared by :

BVA

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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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.