MIRA INFORM REPORT

Report Date :

24.07.2013

IDENTIFICATION DETAILS

Name :	MITTAL SOLUTIONS PRIVATE LIMITED (w.e.f 20.04.2013)
Formerly Known As :	ORANGE ELECTRONICS PRIVATE LIMITED
Registered Office :	Shree Gurukul Computer, Near Udipi Hotel, Shivaji Putla Road, Jalna – 431203, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	11.05.2009
Com. Reg. No.:	11-192303
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U72900MH2009PTC192303
TAN No.: [Tax Deduction & Collection Account No.]	NSKO00586F
PAN No.: [Permanent Account No.]	AABCO2422L
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Distributor of IT Products
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 3800
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established a company having a moderate track record. The profitability of the company seems to be low. The external borrowing appears to be huge. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with great caution.

NOTES :

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

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 (GENERAL DETAILS)

Name :	Mr. Anshul Agarwal
Designation :	Office Executive
Contact No.:	91-240-2481083
Date :	22.07.2013

LOCATIONS

Registered Office :	Shree Gurukul Computer, Near Udipi Hotel, Shivaji Putla Road, Jalna – 431203, Maharashtra, India
Tel. No.:	91-240-2481083
Fax No.:	91-240-2481084
E-Mail :	piyushragrawal@gmail.com devendraring@gmail.com
Location :	Owned

DIRECTORS

As on 28.09.2011

Name :	Mr. Anuj Agrawal
Designation :	Director
Address :	Shree Gurukul, H. No. 2-4-45, Near Udpi Hotel, Jalna – 431203, Maharashtra, India
Date of Birth/Age :	28.07.1981
Date of Appointment :	11.05.2009
DIN No.:	02562357
Name :	Mr. Arunkumar Agarwal
Designation :	Director
Address :	R/O Ratan Niwas, Jalna – 431203, Maharashtra, India
Date of Birth/Age :	17.07.1956
Date of Appointment :	11.05.2009
DIN No.:	02587775

KEY EXECUTIVES

Name :	Mr. Anshul Agarwal
Designation :	Office Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2011

Names of Shareholders	No. of Shares
Anuj Agrawal	500
Arunkumar Agarwal	500
Total	1000

As on 23.02.2013

Names of Allottee	No. of Shares Allotted
Arunkumar Agarwal	1642
Anuj Agrawal	285
Ansirui Arun Agarwal	357
Rekhasevi Arun Agrawal	428
Total	2712

As on 28.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Distributor of IT Products
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

GENERAL INFORMATION

Suppliers :

· Anuj Agrawal

· Arun Agrawal

· Arihant Marketing Pune

· Biz Seoure Labs Private Limited

· Chery Corporation

· Compu Clinic

· Cyber Peripeheral Private Limited

· Compuage Infocom Limited

· Computer Beam - Jalgoan

· Detect Computer

· Dlink lndia Limited

· Global lnfonel Distribution Private Limited

· lngram Micro lndia Limited

· Harsh Corporation

· lnspirc Computer" A-"nagar

· Mainframe Computer Private Limited

· Max Infosolutions

· Manish Salary Advance

· Mek Pedpherals India Private Limited

Customers :

Retailers and End Users

· Jalna

· OS

· Out Stations

· Kalash Seeds

· Wep Peripherals Limited

No. of Employees :

25 (Approximately)

Bankers :

· Peoples Cooperative Bank Limited, Hingoli Shivaji Sankool , Near Old Monhda, Jalna - 431203, Maharashtra, India

· HDFC Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long Term Borrowings
Bank OCH A/C (268)	7.933	0.000
HDFC Bank Car Loan 120	0.503	0.000
Total	8.436	0.000

Banking Relations :	---
Auditors 1 :
Name :	Mr. Umesh Sharma Chartered Accountant
Address :	Jalna, Maharashtra, India
Auditors 2 :
Name :	Ajit Golechha and Company Chartered Accountants
Address :	F-1, First Floor, Dhanwarsha Chambers, Sarojinidevi Road, Jalna – 431203, Maharashtra, India
PAN No.:	ABBPG4230A

CAPITAL STRUCTURE

After 28.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.100/- each	Rs.2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3712	Equity Shares	Rs.100/- each	Rs.0.371 Million

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.100/- each	Rs.1.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs.100/- each	Rs.0.100 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	0.100	0.100
(b) Reserves & Surplus	0.568	0.276
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.300	0.000
Total Shareholders’ Funds (1) + (2)	0.968	0.376
(3) Non-Current Liabilities
(a) long-term borrowings	8.436	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	8.436	0.000
(4) Current Liabilities
(a) Short term borrowings	0.200	0.000
(b) Trade payables	45.478	17.954
(c) Other current liabilities	0.000	0.000
(d) Short-term provisions	0.053	0.149
Total Current Liabilities (4)	45.731	18.103
TOTAL	55.135	18.479
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.910	0.076
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.750	0.001
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	4.660	0.077
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	4.580	1.672
(c) Trade receivables	36.605	14.165
(d) Cash and cash equivalents	8.765	0.046
(e) Short-term loans and advances	0.495	2.488
(f) Other current assets	0.030	0.031
Total Current Assets	50.475	18.402
TOTAL	55.135	18.479

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.100
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.100
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.500
	Cash & Bank Balances	0.062
	Other Current Assets	0.034
	Loans & Advances	0.000
Total Current Assets		0.596
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.496
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.496
Net Current Assets		0.100
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.100

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	242.933	92.873	0.481
		Other Income	NA	NA	0.000
		TOTAL	NA	NA	0.481
Less	EXPENSES
		Office Expenses
		Administrative Expenses	NA	NA	0.481
		Advertising Expenses
		TOTAL	NA	NA	0.481
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.840	0.429	0.000
Less/ Add	DEPRECIATION/ AMORTISATION		0.390	0.028	0.000
	PROFIT BEFORE TAX		0.450	0.401	0.000
Less	TAX		0.158	0.125	0.000
	PROFIT AFTER TAX		0.292	0.276	0.000
	Earnings Per Share (Rs.)		29.20	27.60	0.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	0.00
Net Profit Margin (PBT/Sales)	(%)	0.19	0.43	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.83	2.17	0.00
Return on Investment (ROI) (PBT/Networth)		0.46	1.07	0.00
Debt Equity Ratio (Total Debt /Networth)		8.92	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.10	1.02	0.20

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT: NOT AVAILABLE

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 three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	Yes
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	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 LOAN

Rs. In Millions

Particular	As on 31.03.2012	As on 31.03.2011
Short Term Borrowings
Neet Sushilkumar Kandelwal	0.100	0.000
Sushilkumar Rampratap Kandewal	0.100	0.000
Total	0.200	0.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10343793	28/03/2012	Rs.10.000 Millions	Peoples Cooperative Bank Limited Hingoli	Shivaji Sankool, Near Old Monhda, Jalna - - 431203, Maharashtra, India	B35668292

FIXED ASSETS

· Computer

· Furniture

· Mobile Handset

· CCTV Cemera

· Coffee Machine

· Electric Fitting

· New Car I20

· New Office Building

· Office A/C

· Splendor +

· Tata Sky

· Water Purifier

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.59.69
UK Pound	1	Rs.91.66
Euro	1	Rs.78.69

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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

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.