MIRA INFORM REPORT

Report Date :

15.03.2013

IDENTIFICATION DETAILS

Name :	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED (w.e.f. 12.04.1993)
Formerly Known As :	TECHNOVA PLATE MAKING SYSTEMS LIMITED
Registered Office :	Laxmi Mills Estate, Off. Dr. E. Moses Road, Mahalaxmi, Mumbai – 400 011, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.08.1979
Com. Reg. No.:	11-21599
Capital Investment / Paid-up Capital :	Rs.119.637 Millions
CIN No.: [Company Identification No.]	U74999MH1979PTC021599
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Imaging Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 1569432
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Latest financials 2012 not available. From the previous year financials, if seems that the company has recorded huge external borrowings which increasing over years and acts as a threat to the liquidity position of the company. However, trade relations are reported to be fair. Business is active. Payment terms are unknown. The company can be considered for business dealing with some caution.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BB – (Long Term Bank Loan Facility)
Rating Explanation	Moderate risk of default.
Date	15.01.2013

Rating Agency Name	CRISIL
Rating	A4 + (Bank Guarantee)
Rating Explanation	Very high credit risk.
Date	15.01.2013

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 / Corporate office :	Laxmi Mills Estate, Off. Dr. E. Moses Road, Mahalaxmi, Mumbai – 400 011, Maharashtra, India
Tel. No.:	91-22-42200300/ 27412463 / 2741 2464 (Extension - 480) / 2740 2589
Fax No.:	91-22-24950322/ 27410261
E-Mail :	corp@technovaworld.com atulk@technovaindia.com corp@technova.com sridhar@technovaindia.com pnp@technovaworld.com repro@technovaworld.com rk@technovaindia.com plates@technovaworld.com qps@technovaworld.com chem@technovaworld.com films@technovaworld.com inkjet@technovaworld.com
Website :	http://www.technovaworld.com
Factory :	Plot No. E1/2/3, MIDC, Taloja, Raigad-410208, Maharashtra, India
Tel. No.:	91-22-27412463
Fax No.:	91-22-27410261
International Office :	Located At : Dubai South Africa Sri Lanka East Africa United Kingdom and Europe South America North America
National Office :	Located At : Ahmedabad Bengaluru Chennai Delhi Hyderabad Kochi Kolkata Mumbai (Vidyavihar) Indore Lucknow

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Pranav Natvarlal Parikh

Designation :

Chairman and Managing Director

Address :

18 A, Manek, L. D. Ruparel Marg, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

18.02.1943

Qualification :

B.Com., MBA Havard

Date of Appointment :

29.08.1979

DIN No.:

00318726

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	U35110MH1945PTC004675	LEE AND MUIRHEAD PRIVATE LIMITED	Director	01/02/1969	01/02/1969	-	Active	NO
2	U63040MH1961PLC012067	TRAVEL CORPORATION (INDIA) LIMITED	Director	10/02/1970	10/02/1970	28/12/2006	Active	NO
3	U28129MH1974PTC018030	LEMUIR CONTAINERS PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Active	YES
4	U63040MH1974PTC018029	LEFA FREIGHT PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Active	YES
5	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Director	29/08/1979	29/08/1979	-	Active	NO
6	U24110MH1952PTC008855	TECHNOVA GRAPHICS PRIVATE LIMITED	Director	28/01/1986	28/01/1986	-	Active	NO
7	U45202MH1957PLC010885	SHREE LAXMI WOOLLEN MILLS ESTATE LIMITED	Director	29/06/1994	29/06/1994	-	Active	NO
8	U63000MH1999PTC121101	AL MOVERS PRIVATE LIMITED	Alternate director	02/08/1999	02/08/1999	-	Active	NO
9	L26100GJ1907PLC000033	ALEMBIC LIMITED	Director	28/03/2001	28/03/2001	31/03/2011	Active	NO
10	U74140MH2004PTC144831	A L MANAGEMENT PRIVATE LIMITED	Alternate director	28/08/2004	28/08/2004	-	Active	NO
11	U74900DL2007PTC168260	TOYO INK BUSINESSNETWORK INDIA PRIVATE LIMITED	Director	17/09/2007	17/09/2007	29/10/2010	Active	NO
12	U63090MH1996PTC099340	DHL LOGISTICS PRIVATE LIMITED	Additional director	29/08/2008	29/08/2008	04/04/2012	Active	NO
13	U24230GJ2010PLC061123	ALEMBIC PHARMACEUTICALS LIMITED	Director	29/08/2011	31/03/2011	-	Active	NO

Name :

Mr. Jivanlal Gulabrai Bhatt

Designation :

Whole Time Director

Address :

556/ A, Shriketan, Adenwala Road, Matunga, Mumbai – 400 019, Maharashtra, India

Date of Birth/Age :

23.10.1952

Qualification :

M.Sc. (North California State University, U.S.A.)

Date of Appointment :

01.01.1989

DIN No.:

00435182

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	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Whole-time director	01/01/1989	01/01/1989	-	Active	NO
2	U24110MH1952PTC008855	TECHNOVA GRAPHICS PRIVATE LIMITED	Director	17/03/1989	17/03/1989	-	Active	NO
3	U74900DL2007PTC168260	TOYO INK BUSINESSNETWORK INDIA PRIVATE LIMITED	Director	15/10/2008	11/10/2007	29/10/2010	Active	NO
4	U72200KA2010PTC055462	MSI SERVICES PRIVATE LIMITED	Director	15/03/2012	12/10/2010	-	Active	NO
5	U74900KA2011PTC057787	4D NATURAL STONES PRIVATE LIMITED	Director	27/03/2012	22/03/2011	-	Active	NO

Name :

Mr. Arvind Natvarlal Parikh

Designation :

Director

Address :

8, Palmera, L. D. Ruparel Marg, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

19.10.1927

Date of Appointment :

29.08.1979

DIN No.:

00319473

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	U35110MH1945PTC004675	LEE AND MUIRHEAD PRIVATE LIMITED	Whole-time director	25/05/1950	25/05/1950	-	Active	NO
2	U63040MH1961PLC012067	TRAVEL CORPORATION (INDIA) LIMITED	Director	19/07/1961	19/07/1961	28/12/2006	Active	NO
3	U63040MH1974PTC018029	LEFA FREIGHT PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Active	YES
4	U28129MH1974PTC018030	LEMUIR CONTAINERS PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Active	YES
5	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Director	29/08/1979	29/08/1979	-	Active	NO
6	U63000MH1999PTC121101	AL MOVERS PRIVATE LIMITED	Director	02/08/1999	02/08/1999	24/03/2011	Active	NO
7	U63090MH2002PTC135399	DHL DANZAS LEMUIR PRIVATE LIMITED	Director	03/04/2002	03/04/2002	-	Amalgamated	NO
8	U74140MH2004PTC144831	A L MANAGEMENT PRIVATE LIMITED	Director	03/03/2004	03/03/2004	24/03/2011	Active	NO
9	U63090MH1996PTC099340	DHL LOGISTICS PRIVATE LIMITED	Additional director	10/06/2008	10/06/2008	04/04/2012	Active	NO

Name :

Mr. Mangesh Shripad Kulkarni

Designation :

Director

Address :

201, Moti Mahal, 28 Senapari Bapat Marg, Mahim, Mumbai, Maharashtra India

Date of Birth/Age :

05.06.1942

Date of Appointment :

18.04.2001

DIN No.:

00347908

Name :

Mrs. Snehal Arvind Parikh

Designation :

Director

Address :

5, Rushila Building, Carmichal Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

01.02.1955

Date of Appointment :

26.12.1988

DIN No.:

00467965

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	U35110MH1945PTC004675	LEE AND MUIRHEAD PRIVATE LIMITED	Managing director	19/06/1978	19/06/1978	-	Active	NO
2	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Director	26/12/1988	26/12/1988	-	Active	NO
3	U45203TN1994PTC045754	TIRUPUR CONTAINER TERMINALS PRIVATE LIMITED	Director	12/04/1994	12/04/1994	-	Active	NO
4	U63090MH2003PTC140699	LEMUIR SECURE LOGISTICS PRIVATE LIMITED	Director	03/06/2003	03/06/2003	-	Active	NO
5	U63030MH2003PTC142519	S P LOGISTICS PRIVATE LIMITED	Director	06/10/2003	06/10/2003	-	Active	NO
6	U63090MH1996PTC099340	DHL LOGISTICS PRIVATE LIMITED	Additional director	13/03/2008	13/03/2008	04/04/2012	Active	NO

Name :

Mrs. Maya Pranav Parikh

Designation :

Whole Time-Director

Address :

18 A, Manek, L D Ruparel Marg, Malabar Hill Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

27.01.1978

Date of Appointment :

14.12.2001

DIN No.:

00468051

Name :

Ms. Shelina P. Parikh

Designation :

Whole Time Director

Address :

18 A, Manek, L. D. Ruparel Marg, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

25.07.1968

Date of Appointment :

08.07.1994

DIN No.:

00468199

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	U24110MH1952PTC008855	TECHNOVA GRAPHICS PRIVATE LIMITED	Director	08/07/1994	08/07/1994	Active	NO
2	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Whole-time director	08/07/1994	08/07/1994	Active	NO

Name :

Mr. Jagdish Natvarlal Parikh

Designation :

Director

Address :

6B, Brighton, Nepean Sea Road, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

07.02.1930

Date of Appointment :

29.08.1979

DIN No.:

00348650

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	U35110MH1945PTC004675	LEE AND MUIRHEAD PRIVATE LIMITED	Director	03/08/1954	03/08/1954	-	Active	NO
2	U63040MH1961PLC012067	TRAVEL CORPORATION (INDIA) LIMITED	Director	19/07/1961	19/07/1961	28/12/2006	Active	NO
3	U63040MH1974PTC018029	LEFA FREIGHT PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Active	YES
4	U28129MH1974PTC018030	LEMUIR CONTAINERS PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Active	YES
5	U24110MH1952PTC008855	TECHNOVA GRAPHICS PRIVATE LIMITED	Director	29/08/1979	29/08/1979	-	Active	NO
6	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Director	29/08/1979	29/08/1979	-	Active	NO
7	U63000MH1999PTC121101	AL MOVERS PRIVATE LIMITED	Director	02/08/1999	02/08/1999	-	Active	NO
8	U63090MH2002PTC135399	DHL DANZAS LEMUIR PRIVATE LIMITED	Director	23/04/2003	23/04/2003	-	Amalgamated	NO
9	U74140MH2004PTC144831	A L RECORDS MANAGEMENT PRIVATE LIMITED	Director	12/08/2004	12/08/2004	-	Active	NO
10	U72900MH2005PTC153704	NOEMA (INDIA) PRIVATE LIMITED	Director	02/06/2005	02/06/2005	-	Active	NO
11	U92110MH1995PTC091089	TROPIC FILM PRIVATE LIMITED	Additional director	29/02/2008	29/02/2008	-	Active	NO
12	U63090MH1996PTC099340	DHL LOGISTICS PRIVATE LIMITED	Additional director	23/01/2009	23/01/2009	04/04/2012	Active	NO

Name :

Mr. Ramkrishnan Gayathri

Designation :

Director

Address :

10/ 75, Government Housing Colony, Unnat Nagar II, Off M.G. Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India

Date of Birth/Age :

01.03.1963

Date of Appointment :

14.03.2007

DIN No.:

01733464

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	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Director	14/03/2007	14/03/2007	-	Active	NO
2	U74900DL2007PTC168260	TOYO INK BUSINESSNETWORK INDIA PRIVATE LIMITED	Director	15/10/2008	11/10/2007	29/10/2010	Active	NO
3	U72900MH1980PTC022514	LASTRA NIRAJ PRIVATE LIMITED	Director	26/03/2008	26/03/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders (Equity Shares)	No. of Shares
Arvind N Parikh	127600
Arvind N Parikh (HUF)	3600
Anuradha Benegal	105500
Jagdish N Parikh (HUF)	600
Maya P Parikh and Pranav N Parikh	100200
Natverlal Parikh (HUF)	4500
Poorvi A Parikh and Arvind N Parikh	3600
Pranav N Parikh and Salome Pranav Parikh	850925
Pranav N Parikh (HUF)	408600
Salome P Parikh and Pranav N Parikh	71400
Savita S Parikh and Snehal A Parikh	3600
Shelina P Parikh and Pranav N Parikh	109800
Snehal A Parikh and Savita S Parikh	64800
Sophie Hyams and Pranav N Parikh	1800
Jivan G Bhatt and Nilakshi Bhatt	1075
Prashant J Parikh (Trustee of PAN Family Trust)	41300
Prashant J Parikh	64800
TOTAL	1963700

Names of Shareholders (Preference Shares)	No. of Shares
Pranav N. Parikh	1000000
TOTAL	1000000

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Imaging Products.
Products :	Thermal CTP Solutions Violet CTP Solutions UV CTP Solutions Inkjet CTP Solutions Offset Plates Laser Plates Chemistry Flexo and Letterpress Sol Graphic Arts Films Offset Blankets Laser Media Inkjet Media Screen Print Solutions

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Corporation Bank, Industrial Finance Branch, 14, Pune Mumbai Road, Wakdewadi, Pune – 411003, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Rupee term loans banks secured	1555.349	1835.277
Foreign currency loans banks secured	1077.055	799.873
Working capital loans banks secured	479.429	293.641
Loans taken for vehicles secured	2.928	0.696
Loans taken for other fixed assets secured	(A) 7.103	12.035
Hire purchase installment payable secured	1.811	2.471
Total	3123.675	2943.993
Note: (A) Loan taken for Guest House.
Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Loans directors unsecured	442.182	448.668
Deposits related parties unsecured	0.000	(A) 1.650
Other debt unsecured	(B)365.455	355.937
Interest accrued due other debt unsecured	0.000	26.055
Total	807.637	832.310
Note: (A) Deposit from Company. (B) Loans from shareholders.

Banking Relations :	--
Auditors :
Name :	N.A. Shah and Associates Chartered Accountants
Address :	B 41-45, Paragon Centre, Pandurang Budhkar Marg, Worli, Mumbai-400013, Maharashtra, India
PAN.:	AAAFN5380N
Joint Venture:	TechNova Toyo Ink Private Limited
Associates :	Technova Graphics Private Limited LN Private Limited
Subsidiaries :	TechNova Imaging Systems Inc, USA
Relatives of Key Management Personnel and Enterprises, where key management Personnel and relatives exercise significant influence.	Lee and Muirhead Private Limited DHL Lemuir Logistics Private Limited (Formerly known as DHL Danzas Lemuir Private Limited) A L Movers Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1980000	Equity Shares	Rs.10/- each	Rs.19.800 Millions
1000000	Preferences Shares	Rs.100 /- each	Rs.100.000 Millions
(A)20000	Unclassified Shares	Rs.10/- each	Rs.0.200 Million
	Total		Rs.120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1963700	Equity Shares	Rs.10/- each	Rs.19.637 Millions
1000000	Preferences Shares	Rs.100 /- each	Rs.100.000 Millions
	Total		Rs.119.637 Millions

Note:

(A) Break up are as under 1,980,000 Equity shares of Rs. 10/- each and 20,000 Unclassified Shares of Rs. 10/ each

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		119.637	119.637	19.637
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		272.721	73.065	493.006
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		392.358	192.702	512.643
LOAN FUNDS
1] Secured Loans		3123.675	2943.993	2683.150
2] Unsecured Loans		807.637	832.310	549.663
TOTAL BORROWING		3931.312	3776.303	3232.813
DEFERRED TAX LIABILITIES		31.985	0.000	118.691
TOTAL		4355.655	3969.005	3864.147
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2021.337	2201.803	2380.266
Capital work-in-progress		12.070	4.824	62.688
INVESTMENT		51.120	75.230	81.319
DEFERREX TAX ASSETS		0.000	67.968	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2112.541	1525.365	1080.687
	Sundry Debtors	832.750	765.270	426.306
	Cash & Bank Balances	168.388	167.651	124.298
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	634.180	561.600	527.878
Total Current Assets		3747.859	3019.886	2159.169
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	922.010	976.737	598.885
	Other Current Liabilities	388.784	286.839	145.225
	Provisions	165.937	136.441	75.185
Total Current Liabilities		1476.731	1400.017	819.295
Net Current Assets		2271.128	1619.180	1339.874
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4355.655	3969.005	3864.147

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2011	31.03.2010
PROFIT/(LOSS) AFTER TAX	199.656	(14.501)
Earnings Per Share (Rs.)	96.33	(10.14)

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	13.78	26.86	7.90
Current Ratio (Current Asset/Current Liability)	2.54	2.16	2.64

LOCAL AGENCY FURTHER INFORMATION

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 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	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	--
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) PAN of Proprietor/Partner/Director, if available	NO
32) Passport No of Proprietor/Partner/Director, if available	NO
33) Voter ID No of Proprietor/Partner/Director, if available	NO
34) External Agency Rating, if available	YES

FINANCIAL HIGHLIGHTS:

The Company continued to experience tremendous challenges in the market place under overall economic climate including dumping of products from specific countries. However, strategic and operational initiatives taken by the Company have begun to show reassuring and satisfactory results during the financial period under report. The Company has taken appropriate steps with the Government Authorities in this regard.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74999MH1979PTC021599
Name of the company	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Laxmi Mills Estate, Sakti Mills L, Off. Dr. E. Moses Road, Mahalakshmi – 400011, Mumbai, Maharashtra, India Email: rk@technovaindia.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90213299
Type of charge	Immovable property
Particular of charge holder	Corporation Bank, Industrial Finance Branch, Bharat House No. 104, Ground Floor, Mumbai Samachar Marg, Fort, Mumbai-400023, Maharashtra, India Email: csniteshjain@gmail.com
Nature of instrument creating charge	Memorandum of Entry and joint Mortgage by Deposit of title Deeds in respect of Immovable Properties dated 24.06.2011
Date of instrument Creating the charge	24.06.2011
Amount secured by the charge	Rs.4336.200 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As may be stipulated by the bank from time to time. Terms of Repayment a) Working capital facilities to be repayable on demand; and b) Term Loans granted by Corporation Bank, Saraswat Cooperative Bank Limited and Indian Bank shall be repayable in accordance with the terms and conditions stipulated in respective sanction letters of and/or as stated in the relevant security documents as amended from time to time. Margin As may be stipulated by the bank from time to time. Extent and Operation of the charge The Company accorded its consent to Corporation Bank and Corporation Bank acting for itself and as agent of Saraswat Co-Operative Bank, Indian Bank and Indian Overseas Bank to continue to hold and retain the title deeds (by way of constructive delivery) and further deposited certain supplemental title deeds in respect of its immovable properties as security, for repayment of credit facilities given in Annexure I, by the borrower to Corporation Bank Consortium. Others a) The Charge created herein by the Company shall be on second pari passu inter se the members of Corporation Bank consortium to secure the working capital facilities for all purposes and to all intents without any priority of one over the others; and b) The Charge created herein by the Company shall be on first pari passu inter se Corporation Bank, Saraswat Co-Operative Bank and Indian Bank to secure their Term Loans for all purposes and to all intents without any priority of one over the others.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	a) The Charge created herein by the Company shall be on second pari passu inter se the members of Corporation Bank consortium to secure the working capital facilities for all purposes and to all inten Particulars of property charged are more particularly
Date of instrument modifying the charge	03.03.2010
Particulars of the present modification	The Consortium shall now stands increased/modified/revised up to Rs. 4336.200 Millions in favour of the Corporation Bank consortium (for their Term Loans facilities of Rs. 1786.200 Millions and Working capital facilities of Rs. 2550.000 Millions) against security of Company's immovable properties being lying and situated in Taloja Industrial Area of MIDC.

FIXED ASSETS:

· Leasehold Land

· Freehold Land

· Factory Building and Residential Quarters

· Plant and Machinery

· Electrical Installation

· Furniture and Fixtures

· Office Equipments

· Air – Conditioning Equipments

· Computers

· Vehicles

NEWS

TechNova at Screen Print India,2012

TechNova displayed its full range of Screen Print and Dye-Sublimation Solutions at the Screen Print India 2012 Show, organized in Mumbai in September.

The attractions at the TechNova Stall included :

Transfero Dye-Sublimation Heat Transfer Solution :

• NovaQuip Transfero Heat Press System : A special, table-top multi-function combination Heat Press System to take care of most transfer requirements.

· NovaJet Transfero Inks : A set of aqueous, dye-based, disperse inks for dye-sub transfers, that can be used with regular desktop and large format inkjet printers using piezo heads

· NovaJet Transfero Dye-Sub Media : Specially coated transfer papers, designed for aqueous dye-sub inkjet printing and transfers on garments and hard ceramic surfaces

· NovaSol Transfero Coating Resin : Specially formulated dye-sub resin for coating blank hard substrates, such as ceramics, glass metal and hardwood, etc

· Live demos were conducted at the stall, which showed how easy it is to print images on TechNova’s NovaJet Transfero Dye-Sub Papers, using Epson printers, and then transfer the images on to different substrates. Visitors were highly impressed by the vibrant colours and the quick transfer rate of the Transfero Solution.

· Specialty Substrates

TechNova’s range of specially coated substrates for dye-sublimation transfers also drew a lot of crowd at the stall. The special substrates included Aluminium Sheets, Opaque Gloss Films and Silver Metallic Films. These substrates offer sharp and vibrant colour transfers and it can be used for a variety of applications such as Garment Tags, Industrial Labels, Posters, Point of Sale Displays and many more.

· PosiJet HD Film and PosiJet System

TechNova showcased its PosiJet HD Film, which is an indigenously manufactured inkjet film for screen positive making. Demos of the PosiJet HD film, on the Epson 9900 generated a lot of interest among visitors looking for a no-process, in-house and cost effective alternative solution for their current positive making process. The density and sharpness of the PosiJet HD film is comparable to the conventional lith film. In addition to the PosiJet HD films, the PosiJet system also includes an Epson Printer and Software RIP.

Abhay Kasture,Product Manager, Screen Print Solutions, commented, "Our main objectives for the exhibition were to connect with our customers and to offer them newer products. So far, the response from the customers has been great, and overall, the exhibition was a success for us".

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 records 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 records 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.54.44
UK Pound	1	Rs.81.33
Euro	1	Rs.70.50

INFORMATION DETAILS

Report Prepared by :

SDA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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
TOTAL		44

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.