Country	India
Company Name	JET TEC INFO-CONSUMABLES (INDIA) PRIVATE LIMITED	Principal Name 1	Mr. Rohit Gokuldas Shah
Status	Satisfactory	Principal Name 2	Mrs. Mayuri Rohit Shah
		Registration #	11-119000
Street Address	B-308, Virwani Industrial Estate, Near Western Express Highway, Goregaon (West) Mumbai – 400063, Maharasahtra
Established Date	19.03.1999	SIC Code	--
Telephone#	91-22-28759572	Business Style 1	Importer
Fax #	91-22-28755960	Business Style 2	--
Homepage	http://www.jettecindia.com	Product Name 1	Ink Jet Cartridges
# of employees	22 (Approximately)	Product Name 2	Toner Powder
Paid up capital	Rs.4,980,000/-	Product Name 3	Toner Cartridge
Shareholders	Bodies Corporate – 5.46, Directors or Relatives of Directors– 94.54	Banking	HDFC Bank Limited
Public Limited Corp.	No	Business Period	14 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (42)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	80,357,000	Current Liabilities	31,437,000
Inventories	34,149,000	Long-term Liabilities	48,276,000
Fixed Assets	4,706,000	Other Liabilities	3,411,000
Deferred Assets	0,000	Total Liabilities	83,124,000
Invest& other Assets	0,000	Retained Earnings	31,108,000
	0	Net Worth	36,088,000
Total Assets	119,212,000	Total Liab. & Equity	119,212,000
Total Assets (Previous Year)	107,996,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	237,696,000	Net Profit	6,472,000
Sales(Previous yr)	245,823,000	Net Profit(Prev.yr)	8,030,000

MIRA INFORM REPORT

Report Date :

22.05.2013

IDENTIFICATION DETAILS

Name :	JET TEC INFO-CONSUMABLES (INDIA) PRIVATE LIMITED (w.e.f. 01.03.2013)
Formerly Known As :	JET TEC INFO-CONSUMABLES (INDIA) LIMITED
Registered Office :	B-308, Virwani Industrial Estate, Near Western Express Highway, Goregaon (East) Mumbai – 400063, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	19.03.1999
Com. Reg. No.:	11-119000
Capital Investment / Paid-up Capital :	Rs. 4.980 Millions
CIN No.: [Company Identification No.]	U30000MH1999PLC119000
TAN No.: [Tax Deduction & Collection Account No.]	MUMJ08624A
PAN No.: [Permanent Account No.]	AAACJ5916H
Legal Form :	Private Limited Liability Company
Line of Business :	Importer of Printer Consumables
No. of Employees :	22 (Approximately)

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 144300
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears slight dip in the profitability. However, general financial position seems to be good. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual terms and condition.

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 :	B-308, Virwani Industrial Estate, Near Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India
Tel. No.:	91-22-28759572 / 28756011 / 28760007 / 28789083 / 42030000
Fax No.:	91-22-28755960 / 28755966 / 29271269
E-Mail :	rohit@bom3.vsnl.net.in sales@jettecindia.com rohit@bom.vsnl.net.in ritesh@jettecindia.com
Website :	http://www.jettecindia.com
Area :	1040 Sq. ft
Location :	Owned
Branch Office :	B-312, Virvani Industrial Estate, Goregaon (East), Mumbai-400063, Maharashtra, India
Tel No :	91-22-42030000
Branch Office :	Also Located at : · Ahmedabad · Secunderabad · Vadodara · Surat · Himachal Pradesh · Chennai · New Delhi · Luchnow · Bihar · West Bengal
Warehouse :	Industrial Unit No. 101 and 104, Richa Industrial Estate, Sativli Road, Waliv Fata, Vasai (East), Thane, Maharashtra, India
Area :	4000 Sq.fts

DIRECTORS

As on : 29.09.2012

Name :

Mr. Rohit Gokuldas Shah

Designation :

Managing Director

Address :

1003-1004 Raj Residency Mahavir Nagar, Kandivali (West), Mumbai – 400067, Maharashtra, India

Date of Birth/Age :

27.05.1965

Qualification :

B.com

Date of Appointment :

01.04.2010

DIN No :

00078857

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	U30007MH1998PTC115658	IMAGE MASTER PRINTER RIBBONS PRIVATE LIMITED	Whole-time director	16-07-98	16-07-98	-	Active	NO
2	U30000MH1999PTC119000	JET TEC INFO-CONSUMABLES (INDIA) PRIVATE LIMITED	Managing director	01-04-10	19-03-99	-	Active	NO

Name :

Mr. Ashish Chandulal Kothari

Designation :

Whole Time Director

Address :

701-A Rajni Gandha Apartments Poonam Complex, Asha Nagar, Kandivali (East), Mumbai – 400101, Maharashtra, India

Date of Birth/Age :

01.04.1968

Qualification :

B.Com

Date of Appointment :

01.04.2010

DIN No :

00039270

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	U30007MH1998PTC115658	IMAGE MASTER PRINTER RIBBONS PRIVATE LIMITED	Managing director	16-07-98	16-07-98	-	Active	NO
2	U30000MH1999PTC119000	JET TEC INFO-CONSUMABLES (INDIA) PRIVATE LIMITED	Whole-time director	01-04-10	19-03-99	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 29.09.2012

Names of Shareholders	No. of Shares
Ashish Chandulal Kothari	43710
Mayuri Rohit Shah	6110
Nehal Ashish Kothari	5110
Rajesh Chandulala Kothari	10
Rohit Gokuldas Shah	42450
Ashish Chandulal Kothari (HUF)	5800
Kanakben Chandulal Kothari	6010
Rohit Gokuldas Shah (HUF)	4900
Image Printer Ribbon Private Limited, India	27200
Shah and Kothari, India	138500
Shah and Kothari, India	135800
Shah and Kothari, India	51000
Shah and Kothari, India	31400
Total	498000

Equity Share Break up (Percentage of Total Equity)

As on : 29.09.2012

Category	Percentage
Bodies corporate	5.46
Directors or relatives of Directors	94.54
Total	100.00

BUSINESS DETAILS

Line of Business :	Importer of Printer Consumables
Products :	· Ink Jet Cartridges · Toner Powder · Toner Cartridge · Doctor and Wiper Blade · Synthetic Nylon Fabric · Perseverance · Toner Drums · Inks · Papers · Accessories
Brand Names :	· JET TEC · TSIC · D.C.I.

GENERAL INFORMATION

No. of Employees :

22 (Approximately)

Bankers :

· Corporation Bank, Turekhia Park, M. G. Road, Kandivali (West), Mumbai – 400067, Maharashtra, India

· HDFC Bank Limited, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Facilities :

SECURED LOAN	31.03.2012 (Rs. In Millions)	31.03.2011 (Rs. In Millions)
Vehicle Loans :
From State Bank of India	1.137	0.000
From BMW Financial Services India Private Limited, India (Repayable in 36 Monthly installments, secured against hypothecation of motor car)	0.422	0.000
From Banks
Buyers credit Cash Credit (Secured by hypothecation of books debts, stocks and mortgage of personnel property of Directors and personal guarantee of Directors)	37.408	28.065
Total	38.967	28.065

Banking Relations :	--
Auditors :
Name :	Manoj O. Shah and Company Chartered Accountants
Address :	A/2, Anand Sarita, Anand Nagar, Off M. G. Road, Kandivali (West), Mumbai-400067, Maharashtra, India
PAN No.:	AAEPS0534P

CAPITAL STRUCTURE

As on : 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
498000	Equity Shares	Rs.10/- each	Rs. 4.980 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		4.980	4.980	4.980
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		31.108	24.637	16.605
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		36.088	29.617	21.585
LOAN FUNDS
1] Secured Loans		38.967	28.065	20.997
2] Unsecured Loans		9.309	8.509	8.800
TOTAL BORROWING		48.276	36.574	29.797
DEFERRED TAX LIABILITIES		0.111	0.043	0.044
TOTAL		84.475	66.234	51.426
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.706	2.882	2.132
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	34.149	33.995	20.840
	Sundry Debtors	48.798	52.212	47.676
	Cash & Bank Balances	17.011	2.002	1.876
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	14.548	16.905	18.442
Total Current Assets		114.506	105.114	88.834
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	19.223	22.013	24.657
	Other Current Liabilities	12.214	15.349	10.916
	Provisions	3.300	4.400	3.967
Total Current Liabilities		34.737	41.762	39.540
Net Current Assets		79.769	63.352	49.294
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		84.475	66.234	51.426

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue From Operations	237.696	245.823	230.129
		Other Income	1.325	2.737	6.514
		TOTAL	239.021	248.560	236.643
Less	EXPENSES
		Cost of Material Consumed	185.573	198.701
		Employee Benefits Expenses	8.686	7.125	224.509
		Other Expenses	30.623	25.973
		TOTAL	224.882	231.799	224.509
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		14.139	16.761	12.134
Less	FINANCIAL EXPENSES		3.411	3.725	2.309
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		10.728	13.036	9.825
Less/ Add	DEPRECIATION/ AMORTISATION		0.885	0.578	0.628
	PROFIT BEFORE TAX		9.843	12.458	9.197
Less	TAX		3.371	4.428	2.890
	PROFIT AFTER TAX		6.472	8.030	6.307
Add	Deferred Tax Assets (Liabilities)		NA	NA	(0.014)
Add	Provision for Bad Debts		NA	NA	0.002
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	7.278
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	NA	0.500
		Short Provision for Tax in Previous Year	NA	NA	0.027
	BALANCE CARRIED TO THE B/S		NA	20.579	13.046
	Earnings Per Share (Rs.)		13.00	16.13	12.67

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.71	3.23	2.67
Net Profit Margin (PBT/Sales)	(%)	4.15	5.07	4.00
Return on Total Assets (PBT/Total Assets}	(%)	8.26	11.53	10.11
Return on Investment (ROI) (PBT/Networth)		0.27	0.42	0.43
Debt Equity Ratio (Total Debt /Networth)		1.34	1.23	3.21
Current Ratio (Current Asset/Current Liability)		3.29	2.52	2.25

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	Yes
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

PERFORMANCE REVIEW :

The performance of the company during the year was reasonably good. The sales for the year was Rs. 237.696 Millions as against Rs. 245.823 Millions in the previous year. The net profit before tax was Rs. 9.843 Millions as compared to Rs. 12.458 Millions last year.

UNSECURED LOANS :

Particulars	31.03.2012 (Rs in Millions)	31.03.2011 (Rs in Millions)
From Related Parties	9.309	8.509
Total	9.309	8.509

BANKERS CHARGES REPORT AS PER REGISTRY :

Corporate identity number of the company	U30000MH1999PLC119000
Name of the company	JET TEC INFO-CONSUMABLES (INDIA) LIMITED
Address of the registered office or of the principal place of business in India of the company	B-308, Virwani, Industrial Estate, Near Western Express Highway, Goregaon (West) Mumbai – 400063, Maharashtra, India Email : rohit@bom3.vsnl.net.in
This form is for	Modification of charge
Charge identification number (ID) of the charge to be modified	10076374
Type of charge	· Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	HDFC Bank Limited, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India Emil ID: RBBform8@hdfcbank.com
Nature of instrument creating charge	Supplementary Letter of Hypothecation.
Date of instrument Creating the charge	Rs. 16.01.2012
Amount secured by the charge	Rs. 47.500 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest : Interest at the rate as may be communicated by the Bank from time to time. Terms of repayment : On demand. Margin : As may be stipulated by the Bank from time to time. Extent and operation of the charge Hypothecation by way of First Charge on Company's Stocks, Book Debts etc, to secure as a continuing security for the repayment of Rs.47.500 Millions together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Short particulars of the property charged (Including location of the property)	Stock-in-Trade, consisting of raw materials, goods in process of manufacturing finished goods, and other merchandise whatsoever being movable properties All the debts, that is, all the book debts, outstandings, monies receivables, claims, bills, invoice documents, contracts, guarantees, and rights
Date of instrument modifying the charge	30/07/2010
Particulars of the present modification	The Charge shall now stand increased from Rs.30.000 Millions to Rs.47.500 Millions [comprising of Overall facility under MFA : Rs. 40.000 Millions and PSR : Rs. 7.500 Millions] against the security of Stocks and Book Debts of the Company.

Fixed Assets

· Computers

· Printers

· Furniture and Fixtures

· Printers

· Air Condition

· Plant and Machinery

· Printers

· Weighing Machine

· Telephone

· Scanner HP 2400

· Motor Car – Optra

· Fire Extinguisher

· Compressor

· Air Cooler

· Filter Set

· Scooter

· Vacuum Cleaner

· Bose Lifestyle

· Cupboard

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. 55.04
UK Pound	1	Rs. 83.95
Euro	1	Rs. 70.93

INFORMATION DETAILS

Report Prepared by :

NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--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	YES
--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.