MIRA INFORM REPORT

Report Date :

24.07.2013

IDENTIFICATION DETAILS

Name :	PARAS CADD PRIVATE LIMITED
Registered Office :	404-404, Kushal Point, Plot No.22, Fourth Road, Ghatkopar (West), Mumbai – 400086, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	10.09.2003
Com. Reg. No.:	11-142123
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U72900MH2003PTC142123
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in software marketing and servicing business.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 39000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. The external borrowings appears to be increasing. However, trade relations are reported as fair. Business is active. Payment terms are slow but 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.

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 DECLINED BY

Name :	Mrs. Deepa Amit Borele
Designation :	Director
Contact No.:	91-22-25111111
Date :	22.07.2013

LOCATIONS

Registered Office :	404-404, Kushal Point, Plot No.22, Fourth Road, Ghatkopar (West), Mumbai – 400086, Maharashtra, India
Tel. No.:	91-22-25111111/222/102
Fax No.:	91-22-25111106
E-Mail :	deepa@parascadd.com info@parascadd.com sales@parascadd.com support@parascadd.com services@parascadd.com support@parascadd.com parascadd@vsnl.net
Website :	http://www.parascadd.com

DIRECTORS

As on: 29.09.2012

Name :	Mr. Amit Nathuram Borele
Designation :	Director
Address :	314, Doshi Wadi, L.B.S. Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India
Date of Birth/Age :	15.08.0974
Date of Appointment :	10.09.2003
DIN No.:	00174809
Name :	Ms. Deepa Amit Borele
Designation :	Director
Address :	314 Doshi Wadi, LBS Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India
Date of Birth/Age :	03.11.1978
Date of Appointment :	10.09.2003
DIN No.:	00175539
Name :	Mr. Gopibai Nathuram Borele
Designation :	Director
Address :	314 Doshi Wadi, LBS Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India
Date of Birth/Age :	11.03.1939
Date of Appointment :	01.08.2007
DIN No.:	01575520
Name :	Mr. Meera S. Chouksey
Designation :	Director
Address :	314, Doshi Wadi, LBS Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India
Date of Birth/Age :	18.09.1960
Date of Appointment :	01.08.2006

MAJOR SHAREHOLDERS

As on: 29.09.2012

Names of Shareholders	No. of Shares
Amit Nathuram Borele	9050
Deepa Amit Borele	950
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in software marketing and servicing business.

GENERAL INFORMATION

No. of Employees :

Information declined by the management.

Bankers :

· State Bank of India, Shop No. 6, Sun Magnetica Luis Wadi, LIC Service Road, Eastern Express Road., Thane - 400607, Maharashtra, India

· State Bank of India, Small And Medium Enterprises City Credit Center, Synergy, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWINGS
Loan from Kotak	0.079	0.188
Loan from Reliance	0.247	0.383
Loan from Citibank	10.320	1.964
Loan from SCB	10.080	10.217
SBI OD	6.070	5.712
Total	26.796	18.464

Banking Relations :
Auditors :
Name :	K F Doshi and Company Chartered Accountants
Address :	504 Dalamal Chambers, 29 New Marine Lines, Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-22031048/ 22035948
PAN No.:	AAAPD4410F

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100
(b) Reserves & Surplus	9.739	8.781
(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)	9.839	8.881
(3) Non-Current Liabilities
(a) long-term borrowings	26.796	18.464
(b) Deferred tax liabilities (Net)	0.022	0.091
(c) Other long term liabilities	1.930	1.354
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	28.748	19.909
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	10.257	12.967
(c) Other current liabilities	0.000	0.000
(d) Short-term provisions	6.559	5.977
Total Current Liabilities (4)	16.816	18.944
TOTAL	55.403	47.734
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13.638	12.813
(ii) Intangible Assets	0.088	0.117
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	19.306	8.726
(e) Other Non-current assets	0.600	0.603
Total Non-Current Assets	33.632	22.259
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1.182	1.872
(c) Trade receivables	9.387	13.069
(d) Cash and cash equivalents	0.959	0.737
(e) Short-term loans and advances	0.388	0.778
(f) Other current assets	9.855	9.019
Total Current Assets	21.771	25.475
TOTAL	55.403	47.734

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.000
3] Reserves & Surplus		8.338
4] (Accumulated Losses)		0.000
NETWORTH		8.438
LOAN FUNDS
1] Secured Loans		3.892
2] Unsecured Loans		1.200
TOTAL BORROWING		5.092
DEFERRED TAX LIABILITIES		0.000
TOTAL		13.530
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.756
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.058
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.131
	Sundry Debtors	13.093
	Cash & Bank Balances	0.322
	Other Current Assets	0.000
	Loans & Advances	10.675
Total Current Assets		24.221
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.150
	Other Current Liabilities	0.000
	Provisions	8.364
Total Current Liabilities		14.514
Net Current Assets		9.707
MISCELLANEOUS EXPENSES		0.009
TOTAL		13.530

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Turnover	62.800	72.200	67.900
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses	NA	NA	NA
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		1.372	0.856	4.700
Less	TAX		0.414	0.414	1.418
	PROFIT AFTER TAX		0.958	0.442	3.282
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		8.760	8.317	5.035
	BALANCE CARRIED TO THE B/S		9.718	8.760	8.317
	Earnings Per Share (Rs.)		95.80	44.20	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PBT/Sales)	(%)	2.18	1.19	6.92
Return on Total Assets (PBT/Total Assets}	(%)	2.48	1.79	16.80
Return on Investment (ROI) (PBT/Networth)		0.14	0.10	0.56
Debt Equity Ratio (Total Debt /Networth)		2.72	2.08	0.60
Current Ratio (Current Asset/Current Liability)		1.29	1.34	1.67

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF 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	No
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	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:

The Registered office of the company has been shifted from, 317-318 Doshiwadi, L.B.S. Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India, to the present address w.e.f. 01.08.2011.

WORKING RESULTS:

The company has achieved a turnover of Rs. 62.800 Millions as against Rs.72.200 Millions of East year excluding taxes. After providing for depreciation, net profit before tax works out to Rs. 1.372 Millions, as against Rs. 0.856 Millions of the last year. After tax the company has earned Rs. 0.958 Millions as against Rs. 0.442 Millions of the last year. This amount together with last year's surplus of Rs. 8.760 Millions, totaling to Rs. 8.317 Millions is carried to Balance Sheet.

Now they are quite established in Indian industry by bagging orders from leading owners and operators companies like Reliance Industries Limited, Leading Construction Company from Turkey like Fernace construction India limited, Leading Russian construction companies like Kazstroy India Limited. Leading Indian companies like L&T, Petron, Offshore etc.

Since they have good response and established customer the technology for the piping is proven and now they are also focusing for Structural and Electrical development. Last year due to many changes in the software and for satisfying the existing customer turnover was less, compare to previous year. They focused more on satisfaction of existing customers who will give them continuous business in years to come. The business was more focus is standardization and stability of the software in order to implement the software in companies like RIL, TECHNIMONT etc. They also got assurance from several co prorate that once the software is established uyp to their satisfaction they will go from the unlimited licensing which will increase future sales few times.

With the innovative solution and wide acceptance by Indian leading companies the software is proven for sawing in time, man-hours, excellent quality and results in saving huge man-hours required for construction. This was preparation for international market In the current year they will be having focus in Gulf countries and south east Asia. They have already good customer base and will expand the same. They will also focus in Asia from Singapore.

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured (Rs. In Millions)	Charge Holder	Address	Service Request Number (SRN)
1	10426329	04/05/2013	3.525	CAPITAL FIRST LIMITED	15th Floor, Tower -2, Indiabulls Finance Centre,,  Senapati Bapat Marg, Elphinstone,, MUMBAI, Mahara  shtra - 400013, INDIA	B75347807
2	10127584	30/03/2013 *	10.000	STATE BANK OF INDIA	SHOP NO. 6, SUN MAGNETICA LUIS WADI,, LIC SERVICE  ROAD,EASTERN EXPRESS ROAD., THANE, Maharashtra -  400607, INDIA	B73419350

FIXED ASSETS:

· Computers and Peripherals

· Machineries and Equipments

· Furniture and Fixture

· Vehicles

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 :	JML
Report Prepared by :	RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		41

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.