MIRA INFORM REPORT

Report Date :

13.06.2013

IDENTIFICATION DETAILS

Name :	MASATYA TECHNOLOGIES PRIVATE LIMITED
Registered Office :	564, Packet-C, IFC Ghazipur Paper Market, Ghazipur, Delhi-110096
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	10.09.2009
Com. Reg. No.:	55-194148
Capital Investment / Paid-up Capital :	Rs. 0.295 Million
CIN No.: [Company Identification No.]	U72300DL2009PTC194148
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is providing internet services, information services and on-line electronic commerce sites
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 44000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears a significant increase in the sales turnover as well as the net profitability during 2012. The company is performing well but the capital base is very weak. However, trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered normal 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

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

Unable to contact the company

LOCATIONS

Registered Office :	564, Packet-C, IFC Ghazipur Paper Market, Ghazipur, Delhi-110096, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	masatyatech@gmail.com

DIRECTORS

AS ON 26.09.2012

Name :	Mr. Raj Kumar
Designation :	Director
Address :	C-4/6, Sector-5, Rohini, Delhi-110085, India
Date of Birth/Age :	01.01.1962
Date of Appointment :	10.09.2009
DIN No.:	00002243

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	U72901DL2006PLC148397	P-NET SOLUTIONS LIMITED	Director	18-04-06	18-04-06	13-05-10	Active	NO
2	U74140DL2000PTC106683	TENACIOUS INVESTMENT SERVICES PRIVATE LIMITED	Director	26-09-07	26-09-07	20-10-09	Active	NO
3	U72901DL2006PLC153497	NET 4 TECHNOLOGIES LIMITED	Director	25-09-08	10-09-08	20-10-09	Active	NO
4	U72300DL2009PTC194148	MASATYA TECHNOLOGIES PRIVATE LIMITED	Director	10-09-09	10-09-09	-	Active	NO
5	U18101DL2006PTC156766	RITU GARMENTS PRIVATE LIMITED	Director	20-12-10	20-12-10	-	Active	NO
6	L31300AP1989PLC010550	CROITRE INDUSTRIES LIMITED	Director	03-03-12	03-03-12	22-06-12	Active	NO

Name :	Mr. Rajiv Goyal
Designation :	Director
Address :	P-24, Gali No.2, Bihar Colony Extension, Shahdara, Delhi-110032, India
Date of Birth/Age :	28.09.1972
Date of Appointment :	10.09.2009
DIN No.:	02645555

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2012

Names of Shareholders	No. of Shares
Bimla Rani	5075
Gopal Mittal	825
Hemlata	1817
Krishan Kumar Nagpal	732
Raj Kumar Malhotra	1479
Suresh Kumar Munjal	49
Vinay Kumar Arora	357
Ishant Kumar	1312
Raj Kumar	1316
Sunita Malhotra	1290
Asesh Kumar Singhal	346
Gaurav Guoyal	100
Harichand Singhal	1450
Krishan Swaroop Goyal	132
Lokesh Kumar Goyal	134
Neeraj Garg	1625
Nidhi Garg	6439
Nikhilesh Singhal	1431
Rajiv Goyal	55
Ram Avtar Garg	1488
Renu Garg	151
Ruchi Goyal	85
Shivam Aggarwal	900
Shubham Aggarwal	900
TOTAL	29488

AS ON 05.02.2013

Names of Allottees	No. of Shares
Gopal Mittal	1075
Krishan Kumar and Sons (HUF)	22
Krishan Swaroop Goel	87
Lokesh Kumar Goel	107
Net 4 Communication, India	2150
Nutek India Limited, India	6881
Exotica Infratech Private Limited, India	5376
Croitre Industries Limited, India	100
TOTAL	15798

AS ON 26.09.2012

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	36.33
Other top fifty shareholders	63.67
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Subject is providing internet services, information services and on-line electronic commerce sites.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	· Oriental Bank of Commerce · Axis Bank

Banking Relations :	--
Auditors :
Name :	Nitin Mittal and Company Chartered Accountant
Address :	C-21 B, Ground Floor, South Extension, Part-I, New Delhi-110049, India
PAN No.:	AAHFN5490L

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Subscribed & Paid-up Capital

No. of Shares	Type	Value	Amount
29488	Equity Shares	Rs.10/- each	Rs. 0.295 Million

AS ON 26.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
45286	Equity Shares	Rs.10/- each	Rs. 0.453 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	0.295	0.247
(b) Reserves & Surplus	10.749	7.421
I Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	2.500	2.673
(3) Non-current liabilities
(a) long-term borrowings	0.250	0.100
(b) Deferred tax liabilities (Net)	0.545	0.473
I Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
(4) Current liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.212	0.011
I Other current liabilities	0.000	0.000
(d) Short-term provisions	0.046	0.000
TOTAL	14.597	10.925
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	14.015	6.702
(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	0.150	1.595
I 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
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
I Trade receivables	0.000	0.007
(d) Cash and cash equivalents	0.035	0.783
(e) Short-term loans and advances	0.363	1.788
(f) Other current assets	0.034	0.050
TOTAL	14.597	10.925

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.177
2] Share Application Money		1.055
3] Reserves & Surplus		4.126
4] (Accumulated Losses)		0.000
NETWORTH		5.358
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.100
TOTAL BORROWING		0.100
DEFERRED TAX LIABILITIES		0.155
TOTAL		5.613
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.748
Capital work-in-progress		0.000
INVESTMENT		0.279
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.565
	Other Current Assets	0.000
	Loans & Advances	0.050
Total Current Assets		0.615
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.037
	Other Current Liabilities	0.006
	Provisions	0.000
Total Current Liabilities		0.043
Net Current Assets		0.572
MISCELLANEOUS EXPENSES		0.014
TOTAL		5.613

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	6.060	5.594	0.660
		Other Income	NA	0.502	NA
		TOTAL	NA	6.096	NA
Less	EXPENSES
		Office Expenses	NA	6.623	1.026
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	6.623	1.026
	PROFIT / (LOSS) BEFORE TAX		NA	(0.527)	(0.362)
Less	TAX		NA	0.319	0.155
	PROFIT / (LOSS) AFTER TAX		0.427	(0.846)	(0.517)
	Earnings Per Share (Rs.)		17.26	(47.52)	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	(13.88)	NA
Net Profit Margin (PBT/Sales)	(%)	NA	(9.42)	(54.85)
Return on Total Assets (PBT/Total Assets}	(%)	NA	(5.65)	(6.75)
Return on Investment (ROI) (PBT/Networth)		NA	(0.05)	(0.07)
Debt Equity Ratio (Total Debt /Networth)		0.02	0.01	0.02
Current Ratio (Current Asset/Current Liability)		1.67	238.91	14.30

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	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

Unsecured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings	0.250	0.100
TOTAL	0.250	0.100

OPERATIONAL REVIEW AND FUTURE DEVELOPMENT

During the period the total turnover of the Company was Rs. 6.060 Millions (Previous year Rs. 5.594 Millions). There is a Net profit after tax is Rs. 0.427 Million (Previous year Loss of Rs. 0.846 Million).

No dividend is recommended for the current financial year. In the coming year the directors are striving hard to achieve better results and are optimistic of the future for the company.

FIXED ASSETS

· Motor Cycle

· Tata Cargo

· Land

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. 58.27
UK Pound	1	Rs. 91.15
Euro	1	Rs. 77.50

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		42

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.