1. Summary Information

		Country	India
Company Name	MODERN COMMUNICATION AND BROADCAST SYSTEM PRIVATE LIMITED	Principal Name 1	Mr. Fulchand Gyanchand Jain
Status	Satisfactory	Principal Name 2	Mr. Ashish Gyanchand Jain
		Registration #	04-007980
Street Address	17, Vasuma Bungalows, Vastrapur, Ahmedabad – 380015, Gujarat
Established Date	25.07.1985	SIC Code	--
Telephone#	91-79-26562821	Business Style 1	Manufacturing
Fax #	91-79-26401407	Business Style 2	Trading
Homepage	www.mcbscctv.com	Product Name 1	Broadcasting Equipments
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 34,980,000/-	Product Name 3	--
Shareholders	Bodies corporate 13.86% Directors or relatives of Directors - 86.14%	Banking	State Bank of India
Public Limited Corp.	NO	Business Period	28 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (48)
Related Company
Relation	Country	Company Name	CEO
Related parties where control exists / key management personnel are able to exercise significant influence:	--	New Communication Technology Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	162,928,000	Current Liabilities	126,552,000
Inventories	47,895,000	Long-term Liabilities	65,519,000
Fixed Assets	80,340,000	Other Liabilities	8,693,000
Deferred Assets	0,000	Total Liabilities	200,764,000
Invest& other Assets	37,000	Retained Earnings	55,456,000
		Net Worth	90,436,000
Total Assets	291,200,000	Total Liab. & Equity	291,200,000
Total Assets (Previous Year)	246,321,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	496,714,000	Net Profit	13,650,000
Sales(Previous yr)	383,146,000	Net Profit(Prev.yr)	12,659,000

MIRA INFORM REPORT

Report Date :

11.05.2013

IDENTIFICATION DETAILS

Name :	MODERN COMMUNICATION AND BROADCAST SYSTEM PRIVATE LIMITED
Registered Office :	17, Vasuma Bungalows, Vastrapur, Ahmedabad – 380015, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	25.07.1985
Com. Reg. No.:	04-007980
Capital Investment / Paid-up Capital :	Rs. 34.980 Millions
CIN No.: [Company Identification No.]	U32100GJ1985PTC007980
TAN No.: [Tax Deduction & Collection Account No.]	AHMM01615F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Trading of Communication and Broadcasting Equipments.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 360000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payments are reported to be usually correct and as per commitments. 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 – 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

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 :	17, Vasuma Bungalows, Vastrapur, Ahmedabad – 380015, Gujarat, India
Tel. No.:	91-79-26562821
Fax No.:	91-79-26401407
E-Mail :	api_ca@yahoo.com etaxserviceit@yahoo.in
Website :	www.mcbscctv.com
Head Office / Factory :	B – 138/139, GIDC Electronics Estate Sector – 25, Gandhinagar – 382025, Gujarat
Tel. No.:	91-79-23243462 / 23246016 / 32960065
Fax No.:	91-79-23240585
E-Mail :	info@mcbsintl.com
OTHER BRANCHES:
Ahmedabad Office :	SF – 11, B-Wing, Maradia plaza, C.G. Road, Ahmedabad – 380006, Gujarat
Tel. No.:	91-79-26562821 / 30020081
Fax No.:	91-79-26401607
Bangalore office :	Mr. Adeesh Nayak, Bangalore - 560018
Tel. No.:	91-79-23287295/23287369/23288156
Fax No.:	91-79-23287294
E-Mail :	adi@mcbsintl.com asgjain@mcbsintl.com
Hyderabad :	Mr. K Ram Mohan Rao
Tel No.:	91-79-23287295/23287369/23288156
	91-79-23287294
E-Mail :	rmraoravi@gmail.com
New Delhi :	Mr. Manish Agrawal 141, DDA Office Complex, Cycle Market, Jandewalan Extn, New Delhi - 110055
Mobile No.:	91-9646239300
Bhubaneshwar Office:	Mobile No.: 91-9727724514/9727724101/9727724124 Email: project@mcbsintl.com adi@mcbsintl.com ashjain@mcbsintl.com
Bhopal Office:	FM – 5A, Mansarover Complex, Opp. Habibganj Railway Station, Bhopal – 462016, Madhya Pradesh
Mobile No.:	91-9328024333
Rajasthan Office:	Mobile No.: 91-9727724514/9727724101/9727724124 Email: project@mcbsintl.com adi@mcbsintl.com ashjain@mcbsintl.com
Jammu and Kashmir Office:	Mobile No.: 91-9727724514/9727724101/9727724124 Email: project@mcbsintl.com adi@mcbsintl.com ashjain@mcbsintl.com

DIRECTORS

As on 29.09.2012

Name :

Mr. Fulchand Gyanchand Jain

Designation :

Director

Address :

17, Vasuma Bungalows, Opp. Taxshila Flats, Vastrapur, Ahmedabad – 380015, Gujarat

Date of Birth/Age :

12.03.1973

Qualification :

BE, ME (Adv. Electrical), Fiete Miee

Date of Appointment :

08.01.1998

DIN No.:

00383878

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	U32100GJ1985PTC007980	MODERN COMMUNICATION AND BROADCAST SYSTEMS PRIVATE LIMITED	Director	25/07/1985	25/07/1985	-	Active	NO
2	U31100GJ1993PLC019342	SPACE COMMUNICATION TECHNOLOGY (INDIA) LIMITED	Director	26/04/1993	26/04/1993	-	Active	NO
3	U65910GJ1994PTC022556	FIRST CAPITAL AND FINANCE PVT LTD	Director	20/07/1994	20/07/1994	-	Active	NO
4	U51909GJ1998PTC033544	MODERN COMMUNICATION AND BROADCAST SYSTEMS INTP PRIVATE LIMITED	Director	08/01/1998	08/01/1998	-	Active	NO
5	U92132GJ2004PLC044697	JAI JINENDRA MULTIMEDIA LIMITED	Director	06/09/2004	06/09/2004	-	Strike off	NO

Name :

Mr. Ashish Gyanchand Jain

Designation :

Director

Address :

17, Vasuma Bungalows, Opp. Taxshila Flats, Vastrapur, Ahmedabad – 380015, Gujarat

Date of Birth/Age :

12.03.1973

Qualification :

BE, MBA.

Date of Appointment :

01.12.2005

DIN No.:

00384039

Other Directorship:

c	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	U31100GJ1993PLC019342	SPACE COMMUNICATION TECHNOLOGY (INDIA) LIMITED	Director	26/04/1993	26/04/1993	-	Active	NO
2	U51909GJ1998PTC033544	MODERN COMMUNICATION AND BROADCAST SYSTEMS INTP PRIVATE LIMITED	Director	08/01/1998	08/01/1998	-	Active	NO
3	U32100GJ1985PTC007980	MODERN COMMUNICATION AND BROADCAST SYSTEMS PRIVATE LIMITED	Director	01/12/2005	01/12/2005	-	Active	NO

Name :

Mr. Manish Gyanchand Jain

Designation :

Director

Address :

17, Vasuma Bungalows, Opp. Taxshila Flats, Vastrapur, Ahmedabad – 380015, Gujarat

Date of Birth/Age :

01.10.1975

Qualification :

BE Diploma in International Business Management

Date of Appointment :

15.11.2002

DIN No.:

00384017

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
1	U32100GJ1985PTC007980	MODERN COMMUNICATION AND BROADCAST SYSTEMS PRIVATE LIMITED	Director	15/11/2002	15/11/2002	-	Active
2	U31100GJ1993PLC019342	SPACE COMMUNICATION TECHNOLOGY (INDIA) LIMITED	Director	02/02/2009	02/02/2009	-	Active
3	U31909GJ1989PTC012512	NEW COMMUNICATION TECHNOLOGY PVT LTD	Director	02/03/2009	02/03/2009	-	Active

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Gyanchand Jain	1326661
Angooridevi Jain	935014
Ashish Jain	300100
Manish Jain	311900
Pooja Jain	117750
Babulal Jain	10800
Ratnibai Jain	10800
New Communication Technology Private Limited	215000
Space Communication Technology (India) Private Limited	270000
Total	3498025

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Bodies corporate	13.86
Directors or relatives of Directors	86.14
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Trading of Communication and Broadcasting Equipments.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India,, Special Commercial Branch, Gandhigram, Opposite Gandhgram Railway Station, Ahmedabad – 380009, Gujarat, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Term loan From Bank	6.553	9.732
From other Parties	3.419	3.419
Loans from banks Cash credit – State Bank of India	49.985	62.939
Total	59.957	76.090

Banking Relations :	--
Auditors :
Name :	Ambani Gupta and Jain Chartered Accountants
Address :	A-302, Ashoka Complex, Prakash Society, S P Stadium Road, Navrangpura, Ahmedabad – 380014, Gujarat, India
Tel. No.:	91-79-26467011/30172866
E-Mail :	agj_ca5@yahoo.com
PAN No.:	AAEFA7500R
Related parties where control exists / key management personnel are able to exercise significant influence:	· New Communication Technology Private Limited · Space Communication Technology (India) Limited · MCBS International Private Limited · First Capital and Finance Private Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3498025	Equity Shares	Rs.10/- each	Rs. 34.980 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		34.980	34.980	34.980
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		55.456	45.876	37.295
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		90.436	80.856	72.275
LOAN FUNDS
1] Secured Loans		59.957	76.090	50.192
2] Unsecured Loans		5.562	3.013	1.310
TOTAL BORROWING		65.519	79.103	51.502
DEFERRED TAX LIABILITIES		2.056	2.143	0.651
TOTAL		158.011	162.102	124.428
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		80.340	83.330	42.319
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.037	0.037	0.037
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	47.895	54.433	13.164
	Sundry Debtors	67.179	60.206	42.546
	Cash & Bank Balances	54.330	20.360	51.502
	Other Current Assets	0.085	0.113	1.472
	Loans & Advances	41.334	27.842	37.053
Total Current Assets		210.823	162.954	145.737
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	60.729	27.594	27.479
	Other Current Liabilities	65.823	50.629	11.933
	Provisions	6.637	5.996	24.394
Total Current Liabilities		133.189	84.219	63.806
Net Current Assets		77.634	78.735	81.931
MISCELLANEOUS EXPENSES		0.000	0.000	0.141
TOTAL		158.011	162.102	124.428

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	496.714	383.146
		Other Income	8.145	2.209
		TOTAL	504.859	385.355	530.374
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	473.234	358.499	504.951
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		31.625	26.856	25.423
Less/ Add	DEPRECIATION/ AMORTISATION		10.762	7.586	4.701
	PROFIT BEFORE TAX		20.863	19.270	20.722
Less	TAX		7.213	6.611	7.333
	PROFIT AFTER TAX		13.650	12.659	13.389
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	3.911	6.895	7.239
		Commission Earnings	0.000	0.234	0.064
	TOTAL EARNINGS		3.911	7.129	7.303
	IMPORTS
		Raw Materials	132.568	159.572	430.945
		Capital Goods	1.135	16.856	0.000
	TOTAL IMPORTS		133.703	176.428	430.945
	Earnings Per Share (Rs.)		3.90	3.62	3.83

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.70	3.29	2.52
Net Profit Margin (PBT/Sales)	(%)	4.20	5.03	NA
Return on Total Assets (PBT/Total Assets}	(%)	9.90	11.83	14.22
Return on Investment (ROI) (PBT/Networth)		0.23	0.24	0.29
Debt Equity Ratio (Total Debt /Networth)		0.72	0.98	0.71
Current Ratio (Current Asset/Current Liability)		1.58	1.93	2.28

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	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 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	Yes

OPERATION AND BUSINESS PROSPECT

The Company has achieved Rs 496.700 Millions turnover during the financial year 2011-12. Therefore an increase of 29.64% in turnover compared to previous year. The company net profit after tax has increased by 7.82% in current year compared to previous year.

UNSECURED LOAN

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Loans and Advance from Related Parties	2.550	1.059
Other Loans and Advance
Related Parties	2.012	1.954
Other Parties	1.000	0.000
Total	5.562	3.013

FIXED ASSETS

• Land
• Building
• Computer
• Electric Installations
• Furniture and Fixtures
• Office Equipments
• Plant and Machinery
• Vehicle

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 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.54.54
UK Pound	1	Rs.84.19
Euro	1	Rs.71.10

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.