MIRA INFORM REPORT

Report Date :

23.07.2013

IDENTIFICATION DETAILS

Name :	BIT ADVANCED PROCESSING UTILITIES PRIVATE LIMITED
Registered Office :	Sr. No.73, Plot No.20 + 21, Flat No B-103, Samruddhi Heights, Behind Katraj Diary, Pune-411046, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.03.2009
Com. Reg. No.:	11-190848
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U72400MH2009PTC190848
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture, Exporter and Importer of Semiconductor Components
No. of Employees :	30 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a company having moderate track record. Management has failed to file the latest financials as on 2012. As per the available financials and director reports, the subject was incorporated during March 12, 2009, but it has not yet commenced its business operations. The company has incurred huge pre-operative expenses due to with it has incurred some losses. As confirmed by the receptionist as on July 2013, subject has commenced its operational activity and doing a fair business. Trade relations are fair. Business is active. Payment terms are unknown. The company can be considered for business dealings on a safe and secured 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

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.

INFORMATION PARTED BY

Name :	Ms. Minakshi Patil
Designation :	Office Administrative
Contact No.:	91-20-24360111
Date :	16.07.2013

LOCATIONS

Registered Office / Factory :	Sr. No.73, Plot No.20 + 21, Flat No B-103, Samruddhi Heights, Behind Katraj Diary, Pune-411046, Maharashtra, India
Tel. No.:	91-20-24360111
Mobile No.:	91-9822792934 (Mr. Tushar)
Fax No.:	91-20-24360111
E-Mail :	tushar@bitadvanced.com
Website :	www.bitadvanced.com
Location :	Owned

DIRECTORS

AS ON 30.09.2011

Name :	Mrs. Trupti Prakalp Desai
Designation :	Director
Address :	B-18, 206 Citizen Co-Operative Housing Society, Next To Hinduja Hospital, Veer Savarkar Marg, Mahim, Mumbai-400016, Maharashtra, India
Date of Birth :	07.01.1974
Date of Appointment :	12.03.2009
DIN No.:	00318023

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	U67190MH2005PTC156899	PDAC CONSULTANCY PRIVATE LIMITED	Director	20-10-05	20-10-05	Active	YES
2	U72400MH2009PTC190848	BIT ADVANCED PROCESSING UTILITIES PRIVATE LIMITED	Director	12-03-09	12-03-09	Active	NO

Name :	Mr. Tushar Lakshaman Patil
Designation :	Director
Address :	C-7, Rajarshi Shahu Society, Natubag Pune Satara Road, Pune-411037, Maharashtra, India
Date of Birth :	06.05.1975
Date of Appointment :	12.03.2009
DIN No.:	02446735

KEY EXECUTIVES

Name :	Ms. Minakshi Patil
Designation :	Office Administrative

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Trupti Prakalp Desai	2500
Prakalp Desai	2500
Tushar Lakshaman Patil	5000
TOTAL	10000

AS ON 30.09.2011

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacture, Exporter and Importer of Semiconductor Components
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Customers :	End Users
No. of Employees :	30 (Approximately)
Bankers :	· HDFC Bank Limited, Pune-411046, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	S D Bhandwalkar Chartered Accountant
Address :	Trimurti, 400, Dattawadi, Pune-411030, Maharashtra, India
PAN No.:	ABGPB3701N

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	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
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		(1.595)	(0.935)
NETWORTH		(1.495)	(0.835)
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		2.417	1.692
TOTAL BORROWING		2.417	1.692
DEFERRED TAX LIABILITIES		0.007	0.003
TOTAL		0.929	0.860
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.063	0.031
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.767	0.698
	Sundry Debtors	0.117	0.082
	Cash & Bank Balances	0.361	0.163
	Other Current Assets	0.000	0.000
	Loans & Advances	0.040	0.000
Total Current Assets		1.285	0.943
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.023	0.034
	Other Current Liabilities	0.347	0.000
	Provisions	0.070	0.108
Total Current Liabilities		0.440	0.142
Net Current Assets		0.845	0.801
MISCELLANEOUS EXPENSES		0.021	0.028
TOTAL		0.929	0.860

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	0.748	0.108
		Other Income	0.000	0.000
		TOTAL (A)	0.748	0.108
Less	EXPENSES
		Cost of Material Consumed	0.139	0.011
		Manufacturing Expenses	0.014	0.017
		Staff and Labour Expenses	0.904	0.773
		Administrative and Selling Expenses	0.316	0.217
		Prior Period Expenses W/Off	0.007	0.007
		TOTAL (B)	1.380	1.025
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.632)	(0.917)
Less	FINANCIAL EXPENSES (D)		0.004	0.001
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.636)	(0.918)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.020	0.014
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(0.656)	(0.932)
Less	TAX (H)		0.004	0.003
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(0.660)	(0.935)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.935)	0.000
	BALANCE CARRIED TO THE B/S		(1.595)	(0.935)
	Earnings / (Loss) Per Share (Rs.)		(66.00)	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	(88.24)	(865.74)
Net Profit Margin (PBT/Sales)	(%)	(87.70)	(862.97)
Return on Total Assets (PBT/Total Assets}	(%)	(48.66)	(95.69)
Return on Investment (ROI) (PBT/Networth)		0.44	1.12
Debt Equity Ratio (Total Debt /Networth)		(1.62)	(2.03)
Current Ratio (Current Asset/Current Liability)		2.92	6.64

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	Yes
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	No
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

FACILITIES

Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Loan From Other (Mr. Suryavanshi)	0.050	0.000
Loan From Directors
Mr. and Mrs. Prakalp Desai	1.979	1.431
Mr. Tushar Patil	0.388	0.261
TOTAL	2.417	1.692

OPERATIONS

The Company is yet to commence its fully fledged business activities. The Directors are expecting to commence the same in the near future and for improvement in the financial position in the next financial year.

FIXED ASSETS

· Computer

· Printer

· UPS and Batteries

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. 59.40
UK Pound	1	Rs. 90.73
Euro	1	Rs. 78.11

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		12

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.