MIRA INFORM REPORT

Report Date :

27.05.2013

IDENTIFICATION DETAILS

Name :	DCX CABLE ASSEMBLIES PRIVATE LIMITED
Registered Office :	No. 80, Block - II, EPIP Industrial Area, White Field,  Bangalore – 560066, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	16.12.2011
Com. Reg. No.:	08-061686
Capital Investment / Paid-up Capital :	Rs. 0.150 Million
CIN No.: [Company Identification No.]	U31908KA2011PTC061686
Legal Form :	Private Limited Liability Company
Line of Business :	Subject provides Interconnect Solutions as a full service designer and manufacturer of military and aerospace cable assemblies, wire harnesses, custom and mil-spec connectors, wired enclosures, test equipment and turnkey assemblies.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 40000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a relatively new company having a moderate track record. As per the financials dated March 2012, the company was yet to generate sales. Mr. Prasanna Kumar, Manager – Finance and Accounts Department has confirmed that the company has started generating sales from June 2012 and has earned a turnover of Rs. 70.000 Millions for the year 2013. Trade relations are improving. Business is active. Payment terms are unknown. The company can be considered for business dealings with some great 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

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 :	No. 80, Block - II, EPIP Industrial Area, White Field,  Bangalore – 560066, Karnataka, India
Tel. No.:	91-80-49119555
Fax No.:	91-80-40971553
E-Mail :	hmh2468@gmail.com
Website :	http://www.dcxindia.com/

DIRECTORS

As on: 29.09.2012

Name :

Jyotivadan Ochhavlal Sheth

Designation :

Director

Address :

10, Krishna Kunj, 3rd floor, 29-30, K. M. Munshi Marg, Mumbai – 400007, Maharashtra, India

Date of Birth/Age :

14.07.1943

Date of Appointment :

16.12.2011

DIN No.:

00145979

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	U72900MH1980PTC022514	LASTRA NIRAJ PRIVATE LIMITED	Managing director	16/04/1980	16/04/1980	12/04/2008	Active	NO
2	U22100MH1954PTC009302	ANP PRIVATE LIMITED	Director	01/04/1991	01/04/1991	-	Active	NO
3	U31908KA2011PTC061686	DCX CABLE ASSEMBLIES PRIVATE LIMITED	Director	16/12/2011	16/12/2011	-	Active	NO

Name :

Mr. Dinesh Poonamchand Shah

Designation :

Director

Address :

4/18, Kailas Nagar, 658, Tardeo Road, Opposite Bhatia Hospital, Mumbai - 400007, Maharashtra, India

Date of Birth/Age :

22.08.1948

Date of Appointment :

16.12.2011

DIN No.:

03600097

Name :

Mr. Dilip Poonam Shah

Designation :

Director

Address :

7223 Chablis CT, Indianapolis, Indiana 46268, United States of America

Date of Birth/Age :

13.12.1945

Date of Appointment :

16.12.2011

DIN No.:

03608422

Name :

Hosakote Shama Rao Raghavendra Rao

Designation :

Director

Address :

11/2, 19th Cross, P. B. Nagar, Bangalore – 560061, Karnataka, India

Date of Birth/Age :

07.04.1969

Date of Appointment :

11.05.2012

DIN No.:

00379249

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	U72200KA2001PTC028959	VINYAS INNOVATIVE TECHNOLOGIES PRIVATE LIMITED	Whole-time director	15/12/2005	25/04/2005	-	Active	NO
2	U32302KA2010PTC052925	VINYAS TECHNOLOGIES PRIVATE LIMITED	Director	22/03/2010	22/03/2010	-	Active	NO
3	U33111KA2010PTC055643	STAYSEE HEALTHCARE PRODUCTS PRIVATE LIMITED	Director	26/10/2010	26/10/2010	-	Active	NO
4	U32109KA2010PTC055345	SPECVIN TECHNOLOGIES PRIVATE LIMITED	Director	18/05/2011	18/05/2011	-	Active	NO
5	U31401KA2011PTC061629	VNG TECHNOLOGY PRIVATE LIMITED	Director	14/12/2011	14/12/2011	-	Active	NO
6	U31908KA2011PTC061686	DCX CABLE ASSEMBLIES PRIVATE LIMITED	Director	11/05/2012	16/01/2012	-	Active	NO

Name :

Mr. Neal Jeremy Castleman

Designation :

Director

Address :

12831 S. Figueroa, St Los Angeles, California – 90061, United States of America

Date of Birth/Age :

01.04.1949

Date of Appointment :

14.03.2012

DIN No.:

05159412

Name :

Mr. Arvind Gopal Joglekar

Designation :

Director

Address :

C-21,Swapnashilpa, Ganeshnagar Kothrud, Pune – 411029, Maharashtra, India

Date of Birth/Age :

27.01.1954

Date of Appointment :

11.05.2012

DIN No.:

00239380

Name :

Mr. Vijaybhai Somabhai Patel

Designation :

Director

Address :

20568, Ventura BLVD, No. 407, Woodland Hills, 91364, CA 91364, United States of America

Date of Birth/Age :

19.08.1957

Date of Appointment :

11.05.2012

DIN No.:

05184354

KEY EXECUTIVES

Name :	Mr. Prasanna Kumar
Designation :	Manager (Finance and Accounts Department)

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Jyotivadan Ochhavlal Sheth	150
Dinesh Poonamchand Shah	574850
NCBG Holdings Inc, Grand Cayman	650000
VNG Technology Private Limited, India	1275000
Total	2500000

As on : 10.12.2012

Names of Allottee	No. of Shares Allotted
NCBG Holdings Inc, Cayman Islands	260000
Dinesh Poonamchand Shah	230000
VNG Technology Private Limited, India	510000
Total	1000000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	26.00
Bodies corporate	51.00
Directors or relatives of Directors	23.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject provides Interconnect Solutions as a full service designer and manufacturer of military and aerospace cable assemblies, wire harnesses, custom and mil-spec connectors, wired enclosures, test equipment and turnkey assemblies.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	Walker Chandiok and Company Chartered Accountants
Address :	Wings, First Floor, 16/1, Cambridge Road, Ulsoor, Bangalore – 560008, Karnataka, India
Tel. No.:	91-80-42430700
Fax No.:	91-80-41261228
E-Mail :	bengaluru@in.gt.com
PAN No.:	AAAFW4298E

CAPITAL STRUCTURE

After 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs. 35.000 Millions
150000	Fully Convertible Preference Shares	Rs.100/- each	Rs. 15.000 Millions
	Total		Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs. 35.000 Millions

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15000	Equity Shares	Rs.10/- each	Rs. 0.150 Million

Reconciliation of equity share capital

Particular	Number	Amount
Issued during the year	15,000	0.150
Add: Bonus issues/(bought back) made during the year	-	-
Balance at the end of the year	15,000	0.150

Rights, preferences and restrictions attached to share

The Company has only one class of equity shares having a face value of Rs.10 per share. Each holder of equity share is entitled to one vote per share.

In the years of surplus profits earned by the Company, each shareholder is entitled to dividend in proportion to the number of shares held by them, subject to approval of the Shareholders and the applicable law in force.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive residual assets of the Company, after meeting all liabilities of the Company, in proportion to the number of shares held by them.

Shareholders holding more than 5% of the shares

Name of Shareholder	Number	%
Dinesh Poonamchand Shah	10950	73%
NC6G Holdings Inc., Cayman Islands	3900	26%
Total	14850	99%

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012
SHAREHOLDERS FUNDS
1] Share Capital		0.150
2] Share Application Money		14.535
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(2.878
NETWORTH		11.807
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.001
TOTAL		11.808
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.043
Capital work-in-progress		1.041
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	4.707
	Other Current Assets	0.000
	Loans & Advances	7.369
Total Current Assets		12.076
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.630
	Other Current Liabilities	1.722
	Provisions	0.000
Total Current Liabilities		5.352
Net Current Assets		6.724
MISCELLANEOUS EXPENSES		0.000
TOTAL		11.808

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012
	SALES
		Income	0.000
		Other Income	0.011
		TOTAL	0.011
Less	EXPENSES
		Employee Benefit Expenses	0.090
		Operating, Administration and Other Expenses	2.795
		TOTAL	2.885
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(2.874)
Less/ Add	DEPRECIATION/ AMORTISATION		0.003
	PROFIT/ (LOSS) BEFORE TAX		(2.877)
Less	TAX		0.001
	PROFIT/ (LOSS) AFTER TAX		(2.878)
	Earnings/ (Loss) Per Share (Rs.)		(265.54)

Particulars	June 2012 to 31.03.2013
Sales Turnover (Approximately)	70.000

KEY RATIOS

PARTICULARS		31.03.2012
PAT / Total Income	(%)	(26163.64)
Net Profit Margin (PBT/Sales)	(%)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(17.85)
Return on Investment (ROI) (PBT/Networth)		(0.24)
Debt Equity Ratio (Total Debt /Networth)		0.00
Current Ratio (Current Asset/Current Liability)		2.26

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 two years	Yes
12]	Profitability for last one year	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	No
24]	Banking facility details	No
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE:

The registered office of the company has been shifted from #S4, Hitec Citadel-I, 15th Main, 19th-B Cross, Padmanabhanagar, Bangalore - 560070, Karnataka, India to present address w.e.f. 23.01.2012

BACKGROUND

Subject was incorporated on 16 December 2011 under the Companies Act, 1956. The Company provides Interconnect Solutions as a full service designer and manufacturer of military and aerospace cable assemblies, wire harnesses, custom and mil-spec connectors, wired enclosures, test equipment and turnkey assemblies. The Company, being in its first year of operations has prepared these financial statements for the period 16 December 2011 to 31 March 2012. Accordingly, the requirement to present comparative information is not applicable.

FIXED ASSETS

• Leasehold Improvement
• Computers

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. 55.61
UK Pound	1	Rs. 83.98
Euro	1	Rs. 71.94

INFORMATION DETAILS

Report Prepared by :

UDS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		26

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.