MIRA INFORM REPORT

Report Date :

29.05.2013

IDENTIFICATION DETAILS

Name :	CMS INFO SYSTEMS PRIVATE LIMITED

Formerly Known As :	SUBHIKSHA REALTY PRIVATE LIMITED

Registered Office :	CMS House, Plot 91, Street No.7, MIDC Marol, Andheri (East), Mumbai – 400093, Maharashtra

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	26.03.2008

Com. Reg. No.:	11-180479

Capital Investment / Paid-up Capital :	Rs.1617.752 Millions

CIN No.: [Company Identification No.]	U45200MH2008PTC180479

TAN No.: [Tax Deduction & Collection Account No.]	MUMC16860E

PAN No.: [Permanent Account No.]	AAAMCS2311K

Legal Form :	Private Limited Company

Line of Business :	Providing IT and IT Enable Services, Cash Management Services.

No. of Employees :	7000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Status :	Good

Payment Behavior :	Regular

Litigation :	Clear

Comments :	Subject is a well established company having a good track record. Financially company seems to be strong. Liquidity position is good. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual trade 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

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	A (Term Loan)
Rating Explanation	Having adequate degree of safety regarding timely servicing of financial obligation. It carries low credit risk.
Date	April 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 :	CMS House, Plot 91, Street No.7, MIDC Marol, Andheri (East), Mumbai – 400093, Maharashtra, India
Tel. No.:	91-22-30888881/ 5/30888853/ 67553101 / 30837272
Fax No.:	91-22-30888886/ 28364954/ 67553106
E-Mail :	info@cms.com dinesh.salian@cms.com
Website :	http://www.cms.com
Location :	Leased

Corporate Office :	11^th Floor, Silver Metropolis, Off Western Express Highway, Opposite SRPF Grounds, Goregaon (East), Mumbai- 400 063, Maharashtra, India
Tel. No.:	91-22- 67553100 / 04
Fax No.:	91-22-67553105

Branches:	Located at : West Mahape (MBP) Sanpada Vashi Pune Nashik Nagpur Goa Ahmedabad Vapi Gandhinagar Udaipur Baroda Surat Rajkot Gandhidham Jaipur Indore Bhopal Jabalpur Raipur North Delhi – Okhala Gurgaon Agra Zirakpur Dehraddun Jammu Kasauli Lunknow – Gomati Nagar Varanasi Chandigrah Ludhiana Allahabad Faizabad South Bangalore Mangalore Shimoga Hubli Mysore Chennai Coimbatore Trichy Madurai Trivandrum / Thiruvanthapuram Cochin Calicut Secunderabad Hyderabad – Kukatpally Vishakhapattanam East Kolkata Bhubaneshwar Guwahati Siliguri Patna Jamshedpur

DIRECTORS

AS ON: 30.09.2011

Name :	Mrs. Raju Ramesh Dutt Grover
Designation :	Director
Address :	1, Revills, 45 Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India
Date of Birth/Age :	08.09.1951
Qualification :	Management
Date of Appointment :	30.09.2009
DIN No.:	01584366

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	U30007MH1975PTC018678	DATACOM COMPUTER SERVICES PRIVATE LIMITED	Director	23-04-79	23-04-79	-	Active	NO
2	U99999MH1994PTC081032	JESS PRASAD ENGINEERING AND METALLURGICAL SERVICES PRIVATE LIMITED	Director	02-07-02	02-07-02	-	Active	NO
3	U99999DL1987PTC029377	DYNAMIC HYDRO MACHINES PRIVATE LIMITED	Director	23-11-02	23-11-02	-	Active	NO
4	U74899DL1987PTC028772	G G CONSTRUCTIONS PRIVATE LIMITED	Director	29-06-04	29-06-04	-	Active	NO
5	U45200MH2000PTC125073	RDJ CONSTRUCTIONS PRIVATE LIMITED	Director	31-08-04	31-08-04	-	Active	NO
6	U65920MH1995PTC084883	MONEY EASE CAPITAL PRIVATE LIMITED	Director	31-08-07	31-08-07	-	Active	NO
7	U72200MH2008PTC182049	CMS - IDENT PRIVATE LIMITED	Director	09-05-08	09-05-08	-	Active	NO
8	U70102MH2008PTC182196	DOMINANT DEVELOPERS PRIVATE LIMITED	Director	14-05-08	14-05-08	-	Active	NO
9	U72200MH2004PTC147197	ACU-SOFT TECHNOLOGIES PRIVATE LIMITED	Director	30-09-08	02-06-08	-	Active	NO
10	U45200MH2008PTC180479	CMS INFO SYSTEMS PRIVATE LIMITED	Director	30-09-09	15-10-08	-	Active	NO
11	U72300MH2000PTC124984	KPIT GLOBAL SOLUTIONS PRIVATE LIMITED	Director	30-07-09	25-11-08	27-05-11	Active	NO
12	U72900PN2005PTC020799	RESERGENT INFOTECK PRIVATE LIMITED	Director	30-09-09	09-05-09	-	Active	NO
13	L70102MH1942PLC006482	KAYCEE INDUSTRIES LIMITED	Director	25-09-09	31-07-09	-	Active	NO
14	U30007MH1979PLC021085	SYSTIME COMPUTER SYSTEMS LIMITED	Additional director	01-08-09	01-08-09	-	Amalgamated	NO
15	U92111DL1984PTC019197	NEW VIDEO PRIVATE LIMITED.	Director	30-09-11	01-08-09	-	Active	NO
16	U74999MH1994PLC082773	CMS TRAFFIC SYSTEMS LIMITED	Director	29-12-09	01-08-09	-	Active	NO
17	U72900MH1991PTC061938	CMS ENGINEERING SERVICES PVT LTD	Director	30-09-09	01-08-09	-	Active	NO
18	U72200GJ1989PLC012414	SYSTIME COMPUTERS LIMITED	Director	28-09-09	01-08-09	-	Active	NO
19	U32100MH1981PLC024132	CMS - DITL LIMITED	Director	30-09-09	01-08-09	-	Active	NO
20	U28200MH1982PTC028805	NETPRINT SOLUTIONS INDIA PRIVATE LIMITED	Director	30-09-09	01-08-09	-	Active	NO
21	U30007MH1980PLC022235	CMS COMPUTERS LIMITED	Director	30-09-09	01-08-09	-	Active	NO
22	U74999MH1985PLC035833	MAILTEK SERVICES INDIA LIMITED	Director	30-09-09	01-08-09	-	Active	NO
23	U74899DL1995PTC073729	ST ENERGY SOLUTIONS PRIVATE LIMITED	Director	29-09-09	01-08-09	-	Active	NO
24	U72900KA1979PTC003656	COMPUTER PRODUCTS AND SERVICES PRIVATE LIMITED	Director	28-09-09	01-08-09	-	Active	NO
25	U31300MH1996PTC097001	CABLE NETWORK SYSTEMS PRIVATE LIMITED	Additional director	12-08-09	12-08-09	-	Under Process of Striking off	NO
26	U80904MH2009NPL197404	PEOPLE UPLIFTMENT FOUNDATION	Director	27-11-09	27-11-09	-	Active	NO

Name :	Mr. Rajiv Kaul
Designation :	Whole Time Director
Address :	B – 40, SFS, Sheikh Sarai – Phase 1, New Delhi – 110017, India
Date of Birth/Age :	29.07.1968
Qualification :	B.E, MBA
Date of Appointment :	01.07.2009
DIN No.:	02581313

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	U30007MH1980PLC022235	CMS COMPUTERS LIMITED	Whole-time director	01-04-09	01-04-09	01-07-09	Active	NO
2	U67190DL1999PLC098107	CMS SECURITAS LIMITED	Director	29-09-09	01-07-09	-	Active	NO
3	U46711MH2006PLC158878	CMS MARSHALL LIMITED	Director	30-09-09	01-07-09	-	Active	NO
4	U45200MH2008PTC180479	CMS INFO SYSTEMS PRIVATE LIMITED	Whole-time director	01-07-09	01-07-09	-	Active	NO
5	U22190RJ2010PTC033273	ARTFIRST ENTERPRISES PRIVATE LIMITED	Director	04-11-10	04-11-10	-	Active	NO
6	U22190RJ2010PTC033320	ARTFIRST PUBLICATIONS PRIVATE LIMITED	Director	15-11-10	15-11-10	-	Active	NO
7	U74999DL1998PTC095012	SECURITRANS INDIA PRIVATE LIMITED	Director	31-08-12	18-06-11	-	Active	NO

Name :	Mrs. Aarti Remesh Dutt Grover
Designation :	Additional Director
Address :	1, Revills, 45, Cuffe Parade, Mumbai – 400005, Maharashtra, India
Date of Birth/Age :	06.08.1977
Qualification :	MBA
Date of Appointment :	30.09.2011
DIN No.:	02625342

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	U99999MH1994PTC081032	JESS PRASAD ENGINEERING AND METALLURGICAL SERVICES PRIVATE LIMITED	Director	24-01-02	24-01-02	-	Active	NO
2	U72200MH2004PTC147197	ACU-SOFT TECHNOLOGIES PRIVATE LIMITED	Director	29-06-04	29-06-04	-	Active	NO
3	U80904MH2009NPL197404	PEOPLE UPLIFTMENT FOUNDATION	Director	27-11-09	27-11-09	-	Active	NO
4	U32100MH1981PLC024132	CMS - DITL LIMITED	Director	30-09-11	30-08-10	-	Active	NO
5	U74999MH1985PLC035833	MAILTEK SERVICES INDIA LIMITED	Director	30-09-11	30-08-10	-	Active	NO
6	U74999MH1994PLC082773	CMS TRAFFIC SYSTEMS LIMITED	Director	30-09-11	30-08-10	-	Active	NO
7	U72200GJ1989PLC012414	SYSTIME COMPUTERS LIMITED	Director	30-09-11	30-08-10	-	Active	NO
8	U30007MH1980PLC022235	CMS COMPUTERS LIMITED	Managing director	24-08-12	30-08-10	-	Active	NO
9	U45200MH2000PTC125073	RDJ CONSTRUCTIONS PRIVATE LIMITED	Director	30-09-10	06-09-10	-	Active	NO
10	L70102MH1942PLC006482	KAYCEE INDUSTRIES LIMITED	Managing director	12-02-13	08-09-10	-	Active	NO
11	U92111DL1984PTC019197	NEW VIDEO PRIVATE LIMITED.	Director	30-09-11	01-10-10	-	Active	NO
12	U72200MH2008PTC182049	CMS - IDENT PRIVATE LIMITED	Director	30-09-11	20-10-10	-	Active	NO
13	U70102MH2007PTC174643	SUBURBIA REALTORS PRIVATE LIMITED	Additional director	06-01-11	06-01-11	09-11-11	Active	NO
14	U70102MH2008PTC182196	DOMINANT DEVELOPERS PRIVATE LIMITED	Director	30-09-11	06-01-11	-	Active	NO
15	U99999DL1987PTC029377	DYNAMIC HYDRO MACHINES PRIVATE LIMITED	Director	30-09-11	06-01-11	-	Active	NO
16	U74899DL1987PTC028772	G G CONSTRUCTIONS PRIVATE LIMITED	Director	30-09-11	06-01-11	-	Active	NO
17	U74899DL1995PTC073729	ST ENERGY SOLUTIONS PRIVATE LIMITED	Director	30-09-11	06-01-11	-	Active	NO
18	U72900MH1991PTC061938	CMS ENGINEERING SERVICES PRIVATE LIMITED	Director	30-09-11	06-01-11	-	Active	NO
19	U28200MH1982PTC028805	NETPRINT SOLUTIONS INDIA PRIVATE LIMITED	Director	30-09-11	25-01-11	-	Active	NO
20	U72900PN2005PTC020799	RESERGENT INFOTECK PRIVATE LIMITED	Additional director	01-03-11	01-03-11	-	Active	NO
21	U65920MH1995PTC084883	MONEY EASE CAPITAL PRIVATE LIMITED	Director	30-09-11	01-03-11	-	Active	NO
22	U46711MH2006PLC158878	CMS MARSHALL LIMITED	Director	30-09-11	17-03-11	-	Active	NO
23	U67190DL1999PLC098107	CMS SECURITAS LIMITED	Director	30-09-11	17-03-11	-	Active	NO
24	U45200MH2008PTC180479	CMS INFO SYSTEMS PRIVATE LIMITED	Director	30-09-11	17-03-11	-	Active	NO

Name :	Mr. Amit Dalmia
Designation :	Director
Address :	Flat No.94, Building 4A, Kalpataru Estate, JVLR, Andheri (East), Mumbai-400093, Maharashtra, India
Date of Birth/Age :	30.10.1975
Qualification :	CA, CS, ICWAI
Experience :	15 Years

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	U67190DL1999PLC098107	CMS SECURITAS LIMITED	Director	29-09-12	25-06-12	Active	NO
2	U45200MH2008PTC180479	CMS INFO SYSTEMS PRIVATE LIMITED	Director	31-12-12	25-06-12	Active	NO
3	U74999MH1955PTC009593	S H KELKAR AND COMPANY PRIVATE LIMITED	Director	27-09-12	08-08-12	Active	NO

Name :	Mr. Mathew Cyriac
Designation :	Director
Address :	1908, North Tower, The Imperial, BB Nakshe Marg, Tardeo, Mumbai-400034, Maharashtra, India
Date of Birth/Age :	20.05.1969
Qualification :	BE, MBA

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	U24231PN1981PLC024251	EMCURE PHARMACEUTICALS LIMITED	Alternate director	20-11-07	20-11-07	01-06-09	Active	NO
2	U72200AP1999PTC032836	MTAR TECHNOLOGIES PRIVATE LIMITED	Director	30-09-08	29-11-07	-	Active	NO
3	L18101KA2004PLC033475	GOKALDAS EXPORTS LIMITED	Director	04-09-08	21-02-08	-	Active	NO
4	U30007MH1980PLC022235	CMS COMPUTERS LIMITED	Additional director	21-02-09	21-02-09	01-07-09	Active	NO
5	U46711MH2006PLC158878	CMS MARSHALL LIMITED	Director	30-09-09	01-07-09	-	Active	NO
6	U67190DL1999PLC098107	CMS SECURITAS LIMITED	Director	29-09-09	01-07-09	-	Active	NO
7	U45200MH2008PTC180479	CMS INFO SYSTEMS PRIVATE LIMITED	Director	30-09-09	01-07-09	-	Active	NO
8	U60231DL2005PLC138598	GATEWAY RAIL FREIGHT LIMITED	Director	18-09-10	23-08-10	-	Active	NO
9	U72900MH2006PLC162656	FINO PAYTECH LIMITED	Nominee director	08-07-11	08-07-11	-	Active	NO
10	U74120AP2008PLC074583	NUZIVEEDU SEEDS LIMITED	Alternate director	14-11-11	14-11-11	24-09-12	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON April 2013

Names of Equity Shareholders	No. of Shares
Ramesh D Grover	35550287
Blackstone FP Capital Partners (Mauritius) V Limited – Mauritius	83167132
Other Shareholders	28057771
TOTAL	146775190

Names of Preference Shareholders	No. of Shares
Mathew Cyriac	500000
Rajiv Kaul	500000
Pankaj Khandelwal	500000
TOTAL	1500000

AS ON April 2013

Equity Shares Break Up	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	56.67
Directors or relatives of Directors	40.95
Other top fifty shareholders	2.38
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Providing IT and IT Enable Services, Cash Management Services.

GENERAL INFORMATION

Customers :

Bankers, Large Corporates and PSUs

No. of Employees :

7000 (Approximately)

Bankers :

ICICI Bank Limited, Corporate Banking Division, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India
State Bank of India - Commercial Branch (Advances), NGN Vaidya Marg, Bank Street, Horniman Circle, Mumbai – 400023, Maharashtra, India
IDBI Bank Limited, Specialised Corporate Branch, Opus Centre, Plot No.47, Central Road, MIDC, Andheri (East), Mumbai, Maharashtra, India
Axis Bank Limited, Axis House, C-2, Wadia International Centre, Pandurang Budhkar MArg, Worli, Mumbai-400025, Maharashtra, India
Kotak Mahindra Bank, 6^th Floor, Dani Corporate Park, 158, CST Road, Kalina, Santacruz (East), Mumbai-400098, Maharashtra, India
Yes Bank Limited, Indiabulls Finance Centre, Tower II, 25^th Floor, Senapati Bapat Marg, Elphistone Road, Mumbai-400013, Maharashtra, India

Facilities :

(Rs. In Millions)

BANK NAME	Cash Credit Limited
BANK NAME	FUND BASED	NON FUND BASED	TOTAL
ICICI Bank Limited	200.000	200.000	400.000
State Bank of India	100.000	150.000	250.000
IDBI Bank Limited	75.000	200.000	275.000
Axis Bank Limited	90.000	100.000	190.000
Kotak Mahindra Bank	150.000	380.000	530.000
Yes Bank Limited	250.000	200.000	450.000
	865.000	1230.000	2095.000

Secured Loan

Rs. In Millions

31.03.2012

Rs. In Millions

31.03.2011

Long Term Borrowings

Term Loans

From Banks

External Commercial Borrowings

0.000

76.440

Vehicle Loan

81.103

70.785

Other Term Loans

11.875

19.375

Long term Maturities of Finance Lease Obligations

21.523

46.006

Short Term Borrowings

Cash Credit Facilities with Banks

190.308

462.936

Working Capital Demand loan from Banks

100.000

247.822

TOTAL

404.809

923.364

NOTES

Long Term Borrowings

External commercial Borrowing : Original Amount USD 12,000,000 repayable quarterly, secured by mortgage of Vision House Ahmedabad and Lonavala property belonging to CMS Computers Limited and other movable properties of the company acquired out of proceeds from External Commercial Borrowing including movable properties belonging to CMS Computers Limited.

Working Capital term loan is secured by way of first pari passu charge on current assets including book debts, and second pari passu charge on movable fixed assets of the Company.

Vehicle loan Repayable in 36 equated monthly installments, secured by exclusive charge on vehicles procured.

Other Term Loan: Original amount Rs. 30.000 Millions, repayable Rs. 0.625 Million per month, in 48 installments, secured by exclusive charge on asset procured.

Finance lease obligation is secured by hypothecation of assets taken on lease. Finance lease obligations is repayable on quarterly basis which consist of principal and interest components.

Loan from related parties include the amount payable by the Company to CMS Computers Limited for that portion of loans which has been repaid by CMS Computers Limited to ICICI Bank, Singapore but pertains to the Company, pursuant to the scheme of arrangement.

Short Term Borrowings

Cash Credit facilities are secured by hypothecation of current assets and second charge on moveable fixed assets of the company. Cash Credit limits are payable on demand and carries rate on interest @ 14.00% to 15.00%.

Working capital demand loan facilities are secured by hypothecation of current assets and secured charge on movable fixed assets of the Company. Working capital demand loan are payable on demand ad carries rate on interest @12.00% to 14.00%.


Auditors :
Name :	S R Batliboi and Associates Chartered Accountant
Address :	14^th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India
Tel. No.:	91-22-61920000
Fax No.:	91-22-61921000
PAN No.:	AABFS3421N

Holding Company (As On 31.03.2011) :	Blackstone FP Capital Partners (Mauritius) V Limited

Subsidiaries :	CMS Securitas Limited CIN No.: U67190DL1999PLC098107 Address : 253 Okhla Industrial Estate, Phase-III, New Delhi-110202, India Line of Business : Cash Management and FMS CMS Marshall Limited CIN No.: U46711MH2006PLC158878 Address : CMS House, Plot No.91, Street No.7, Marol, MIDC, Andheri (East), Mumbai-400093, Maharashtra, India Line of Business : Manpower Securtitrans India Private Limited Address : 10, DDA Complex, Nagal Raya, New Delhi-110046, India Line of Business : cash Management Services

Enterprises over which director and /or his relative has significant influence (As On 31.03.2011) :	CMS Ident Private Limited CMS Computers Limited CMS - DITL Limited CMS Traffic Systems Limited Dynamic Hydro Machines Private Limited G.G. Constructions Private Limited Kaycee Industries Limited Netprint Solution India Private Limited SYSTIME Global Solution Private Limited Systime Computer Systems Limited E Flex LLC, Dubai Money Ease Capital Private Limited Man Power Supplier

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount

148000000	Equity Shares	Rs.10/- each	Rs. 1480.000 Millions
1500000	0.01% Optionally Convertible Cumulative Redeemable Preference Shares	Rs.100/- each	Rs. 150.000 Millions
	TOTAL		Rs. 1630.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

146775190	Equity Shares	Rs.10/- each	Rs. 1467.752 Millions
1500000	0.01% Optionally Convertible Cumulative Redeemable Preference Shares	Rs.100/- each	Rs. 150.000 Millions
	TOTAL		Rs. 1617.752 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		1617.752	1278.802	1278.802
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2178.839	592.185	(158.079)
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3796.591	1870.987	1120.723
LOAN FUNDS
1] Secured Loans		404.809	923.364	898.508
2] Unsecured Loans		0.000	80.000	162.564
TOTAL BORROWING		404.809	1003.364	1061.072
DEFERRED TAX LIABILITIES		0.000	2.377	0.000

TOTAL		4201.400	2876.728	2181.795

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		1859.084	1863.792	1449.565
Capital work-in-progress		64.652	64.184	11.217

INVESTMENT		1267.854	21.676	21.676
DEFERREX TAX ASSETS		22.893	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	127.804	164.939	171.054
	Sundry Debtors	1573.010	1524.240	945.305
	Cash & Bank Balances	174.938	186.868	46.449
	Other Current Assets	475.736	142.754	83.918
	Loans & Advances	893.605	756.018	342.229
Total Current Assets		3245.093	2774.819	1588.955
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	711.839	764.812	412.851
	Other Current Liabilities	1475.072	1009.146	409.341
	Provisions	71.265	73.785	72.460
Total Current Liabilities		2258.176	1847.743	894.652
Net Current Assets		986.917	927.076	694.303

MISCELLANEOUS EXPENSES		0.000	0.000	5.034

TOTAL		4201.400	2876.728	2181.795

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	6902.578	6125.575	3406.956
		Other Income	45.496	23.073	75.993
		TOTAL (A)	6948.074	6148.648	3482.949

Less	EXPENSES
		Cost of Materials Consumed	13.045	1.267	3238.931
		Purchase of Trading Goods	1076.196	1128.845
		Employee Benefit Expenses	1253.040	1317.863
		Operating and Other Expenses	3575.315	3191.616
		Changes in Inventories of Finished Goods, Work-In-Progress and trading goods	36.253	(6.790)
		TOTAL (B)	5953.849	5632.801	3238.931

Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		994.225	515.847	244.018

Less	FINANCIAL EXPENSES (D)		157.075	162.799	121.021

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		837.150	353.048	122.997

Less/ Add	DEPRECIATION/ AMORTISATION (F)		186.981	176.842	107.764

	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		650.169	176.206	15.233

Less	TAX (H)		199.730	55.752	0.000

	PROFIT / (LOSS) AFTER TAX (G-H) (I)		450.439	120.454	15.233

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	(173.312)

	BALANCE CARRIED TO THE B/S		NA	NA	(158.079)

	EARNINGS IN FOREIGN CURRENCY
		Service and Maintenance Charges	NA	2.283	3.856
		Other Earnings	NA	1.066	1.006
	TOTAL EARNINGS		NA	3.349	4.862

	IMPORTS
		Traded Goods	NA	51.185	106.403
		Stores & Spares	NA	128.859	107.174
		Capital Goods	NA	78.137	10.224
	TOTAL IMPORTS		NA	258.181	223.801

	Earnings Per Share (Rs.)		3.66	1.07	0.13

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	6.48	1.96	0.44

Net Profit Margin (PBT/Sales)	(%)	9.42	2.88	0.45

Return on Total Assets (PBT/Total Assets}	(%)	12.68	3.80	0.50

Return on Investment (ROI) (PBT/Networth)		0.17	0.09	0.01

Debt Equity Ratio (Total Debt /Networth)		0.11	0.54	0.95

Current Ratio (Current Asset/Current Liability)		1.44	1.50	1.78

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	Yes
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)	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	Yes

Unsecured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Short Term Borrowings
Term Loans from Banks	0.000	80.000

TOTAL	0.000	80.000

NOTE

The Registered Office of the company has been shifted from 14, Chandreahwar Hall Building, 2nd Floor, J S S Road, Opera House, Mumbai - 400004, Maharashtra, India to the present address w.e.f. 15.10.2008

CORPORATE INFORMATION

Subject is a private limited company domiciled in India an incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of trading in computer systems and peripherals, maintenance and facility management services for computer systems and peripherals, computer hardware and network training, print solution services and card personalization services. The Company is also in to ATM and Cash Management Business.

The Company along with CMS Computer Limited had filed a Scheme of Arrangement with the Honorable High Court of Judicature at Bombay. The said Scheme was approved by the High Court and was effective from July 01, 2009 with appointed date April 1, 2008.

In accordance with the Scheme of Arrangement, trading and IT enabled services comprising of annual maintenance services, facility management services, CMs Training Institute and printing services along with the subsidiary – CMS Securitas Limited to the Company. Further, the Chief Executive Officer as well as the CEO Employee Stock Option Plan 2008 was also transferred to the Company.

Further, effective from April 01, 2009 the Cash management business of CMS Securitas Limited was merged in the Company.

FIXED ASSETS

Plant and Machinery
Electrical Installation
Furniture, Fixtures and Fittings
Vehicles
Office Equipments
Computer systems and peripherals
Goodwill
Computer software

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. 55.74
UK Pound	1	Rs. 84.17
Euro	1	Rs. 72.02

INFORMATION DETAILS

Report Prepared by :

DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.

MIRA INFORM REPORT

127.804

164.939

171.054

1573.010

1524.240

945.305

174.938

186.868

46.449

475.736

142.754

83.918

893.605

756.018

342.229

3245.093

711.839

764.812

412.851

1475.072

1009.146

409.341

71.265

73.785

72.460

2258.176

986.917

927.076

694.303

6.48

9.42

12.68

0.17

0.11

1.44

Unit