MIRA INFORM REPORT

Report Date :

07.08.2014

IDENTIFICATION DETAILS

Name :	ZOOM COMMUNICATIONS LIMITED [w.e.f.18.08.2007]
Formerly Known As :	ZOOM COMMUNICATIONS PRIVATE LIMITED
Registered Office :	B-10, Greater Kailash, Enclave Part-I, New Delhi - 110048
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.03.1989
Com. Reg. No.:	55-035643
Capital Investment / Paid-up Capital :	Rs. 102.340 Millions
CIN No.: [Company Identification No.]	U32204DL1989PLC035643
TAN No.: [Tax Deduction & Collection Account No.]	DELZ00062G
PAN No.: [Permanent Account No.]	AAACZ0080E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing Video/Broadcasting Production Services.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 2050000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Exist
Comments :	Subject is an established company having moderate track record. Management of the company has failed to file its financial after 2011 with government department. As per financials of 2011, company has incurred loss from its operation. However, trade relations are fair. Business is active. Payment terms are unknown. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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 31-03-2014.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE

[CONTACT NO.: 91-11-42120000]

LOCATIONS

Registered Office :	B-10, Greater Kailash, Enclave Part-I, New Delhi – 110048, India
Tel. No.:	91-11-42120000
Fax No.:	91-11-42120065
E-Mail :	singhsudhanshu@zoomcom.in dkassociates@gmail.com gulshan@gva-co.com
Website :	http://www.zoomcom.tv

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Gulshan Kumar Jhurani

Designation :

Director

Address :

B-226A, Greater Kailash, Part – I, New Delhi, India

Date of Birth/Age :

27.05.1962

Qualification :

Chartered Accountant

Date of Appointment :

03.11.2010

DIN No.:

00209894

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	L65910DL1990PLC040705	GENESIS FINANCE COMPANY LIMITED	Director	10/08/1994	10/08/1994	18/12/2012	Active	NO
2	U72900DL2000PTC106935	Q2AMEDIA SERVICES PRIVATE LIMITED	Director	24/03/2004	24/03/2004	-	Active	NO
3	U74899DL1987PTC027358	SOPAN REAL ESTATES PRIVATE LIMITED	Director	08/02/2005	08/02/2005	-	Active	NO
4	U32204DL1989PLC035643	ZOOM COMMUNICATIONS LIMITED	Director	03/11/2010	27/03/2006	-	Active	NO
5	U32201DL2006PTC156387	FLASH BROADCASTING TV PRIVATE LIMITED	Director	08/12/2006	08/12/2006	17/04/2010	Active	NO
6	U29190DL1954PLC002456	ASSOCIATED DRILLING AND SERVICES LIMITED	Director	30/09/2008	01/09/2007	-	Active	NO
7	U45200DL2007PTC160326	SHOUYEE INFRASTRUCTURE PRIVATE LIMITED	Additional director	15/06/2010	15/06/2010	15/05/2013	Active	NO
8	U29268KA2007PTC042212	BIZ INDIA VENTURES PRIVATE LIMITED	Director	19/06/2010	19/06/2010	-	Active	NO
9	U74140DL2010PTC206262	NATURE ECO VENTURE PRIVATE LIMITED	Director	26/07/2010	26/07/2010	-	Active	NO
10	U45200DL2011PTC213631	EMPI INNOVATION PARK PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
11	U92490DL2011PTC229050	MOOZ ENTERTAINMENT PRIVATE LIMITED	Director	21/12/2011	21/12/2011	-	Active	NO
12	U85100KA2010PTC053295	LEPAKSHI HERITAGE WELLNESS VILLAGE PRIVATE LIMITED	Director	29/09/2012	05/03/2012	-	Active	NO
13	U74999KA2011PTC061463	LEPAKSHI SCIENCE AND TECHNOLOGY PARK PRIVATE LIMITED	Director	29/09/2012	05/03/2012	-	Active	NO
14	U45200DL2010PTC205115	RANDHAWA CONSTRUCTION PRIVATE LIMITED	Additional director	20/04/2013	20/04/2013	-	Active	NO
15	U55101TN2014PTC095845	ZEE HOSPITALITY PRIVATE LIMITED	Director	02/04/2014	02/04/2014	-	Active	NO
16	AAB-6859	MOOZ CRAYON EVENTS LLP	Body corporate as Designated Partner	01/08/2013	01/08/2013	-	Active	NO

Name :

Mr. Vaseem Ahmed Dehlvi

Designation :

Whole-time director

Address :

C-32, Nizamuddin East, New Delhi – 110013, India

Date of Birth/Age :

03.10.1961

Qualification :

B. Com

Date of Appointment :

03.11.2010

DIN No.:

02844765

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	U22222DL2009PTC186879	ZOOM BROADCAST SYSTEMS PRIVATE LIMITED	Additional director	18/03/2009	18/03/2009	Active	NO
2	U32204DL1989PLC035643	ZOOM COMMUNICATIONS LIMITED	Whole-time director	03/11/2010	01/06/2010	Active	NO
3	U92490DL2011PTC229050	MOOZ ENTERTAINMENT PRIVATE LIMITED	Additional director	31/08/2012	31/08/2012	Active	NO

KEY EXECUTIVES

Name :	Mr. Sudhanshu Kumar Singh
Designation :	Secretary
Address :	C-228, Paryavaran Complex, New Delhi – 110030, India
Date of Appointment :	12.04.2008
PAN No.:	AVSPS2832F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares	Percentage of Holding
Rashmi Kant	10217046	99.83
Divya Deepti Handa	6020	0.06
Mona Kant	602	0.01
Sukant Kohli	602	0.01
Suman Krishan Kant	5000	0.05
Saunil Kumar Handa	4300	0.04
Aditi Handa	430	0.00
Total	10234000	100.00

AS ON 30.09.2011

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

BUSINESS DETAILS

Line of Business :

Providing Video/Broadcasting Production Services.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· The Hongkong and Shanghai Banking Corporation Limited

Birla House, 25 Barakhamba Road, New Delhi - 110001, Delhi, India

· ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

· Standard Chartered Bank

Credit Risk Control, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001, Delhi, India

· Axis Bank Limited

Statesman House, 148, Barakhamba Road, New Delhi - 110001, Delhi, India

· The United Western Bank Limited

Allied Bhawan L.S.C. Madangir, Pushpa Vihar, New Delhi - 110062, Delhi, India

Facilities :

SECURED LOANS	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
Rupee term loans banks	321.923	352.753
Working capital loans banks	371.338	413.150
Other debt secured	7.509	8.654
Total	700.770	774.557

Banking Relations :	--
Financial Institution :	· 3i Infotech Trusteeship Services Limited 3rd to 6th floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India
Auditors :
Name :	Ram C. Kapoor and Associates Chartered Accountants
Address :	D-43, Gulmohar Park New Delhi – 110049, India
Income-tax PAN of auditor or auditor's firm :	AADFR9957N
Subsidiary Companies :	· Zoom Comm Pte Limited, Singapore Zoom Comm Private Limited, Mauritius Zoom Broadcast Systems Private Limited, New Delhi [U22222DL2009PTC186879]

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
15,000,000	Equity Shares	Rs. 10/- each	Rs. 150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,234,000	Equity Shares	Rs. 10/- each	Rs. 102.340 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		102.340	102.340	102.340
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		410.698	414.187	252.839
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		513.038	516.527	355.179
LOAN FUNDS
1] Secured Loans		700.770	774.557	562.403
2] Unsecured Loans		117.084	64.084	17.420
TOTAL BORROWING		817.854	838.641	579.823
DEFERRED TAX LIABILITIES		0.000	0.000	7.011
TOTAL		1330.892	1355.168	942.013
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1209.790	971.468	1059.321
Capital work-in-progress		0.025	4.630	0.000
INVESTMENT		0.100	0.100	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	165.006	264.600	135.948
	Cash & Bank Balances	(69.077)	39.152	0.020
	Other Current Assets	33.996	211.346	184.578
	Loans & Advances	409.327	188.335	132.070
Total Current Assets		539.252	703.433	452.616
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	98.160	51.887	263.705
	Other Current Liabilities	229.073	182.951	216.257
	Provisions	123.042	98.536	89.962
Total Current Liabilities		450.275	333.374	569.924
Net Current Assets		88.977	370.059	(117.308)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
OTHER ASSETS		32.000	8.911	0.000
TOTAL		1330.892	1355.168	942.013

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Operating revenue	1357.585	881.203	644.245
		Other Income	15.621	28.127	12.426
		TOTAL (A)	1373.206	909.330	656.671
Less	EXPENSES
		Consumption materials changes inventories	342.910	162.016
		Manufacturing service costs	418.174	101.523
		Employee related expenses	42.131	43.973
		Administrative selling other expenses	187.628	50.741
		TOTAL (B)	990.843	358.253	262.095
Less	PROFIT/ [LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		382.363	551.077	394.576
Less	FINANCIAL EXPENSES (D)		86.730	85.065	56.682
	PROFIT/ [LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		295.633	466.012	337.894
Less/ Add	DEPRECIATION/ AMORTISATION (F)		270.278	226.535	169.540
	PROFIT/ [LOSS] BEFORE TAX (E-F) (G)		25.355	239.477	168.354
Less	TAX (H)		28.844	78.129	68.422
	PROFIT/ [LOSS] AFTER TAX (G-H) (I)		(3.489)	161.348	99.932
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	995.950	142.139	73.922
	Earnings/ [Loss] Per Share (Rs.)		(0.34)	15.76	9.76

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(0.25)	17.74	15.22
Net Profit Margin (PBT/Sales)	(%)	1.87	27.18	26.13
Return on Total Assets (PBT/Total Assets}	(%)	1.45	14.30	11.13
Return on Investment (ROI) (PBT/Networth)		0.05	0.46	0.47
Debt Equity Ratio (Total Debt/Networth)		1.59	1.62	1.63
Current Ratio (Current Asset/Current Liability)		1.20	2.11	0.79

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2009	31.03.2010	31.03.2011
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	102.340	102.340	102.340
Reserves & Surplus	252.839	414.187	410.698
Net worth	355.179	516.527	513.038
Secured Loans	562.403	774.557	700.770
Unsecured Loans	17.420	64.084	117.084
Total borrowings	579.823	838.641	817.854
Debt/Equity ratio	1.632	1.624	1.594

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2009	31.03.2010	31.03.2011
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	644.245	881.203	1357.585
		36.781	54.060

NET PROFIT MARGIN

Net Profit Margin	31.03.2009	31.03.2010	31.03.2011
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	644.245	881.203	1357.585
Profit/ (Loss)	99.932	161.348	(3.489)
	15.51%	18.31%	(0.26%)

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 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	Yes
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	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

LITIGATION DETAILS

IN THE HIGH COURT OF DELHI AT NEW DELHI

CS(OS) 1096/2014

GLENSOUND ELECTRONICS LTD ..... Plaintiff

Through Proxy Counsel

Versus

ZOOM COMMUNICATIONS PVT LTD and ANR ..... Defendants

Through

CORAM:

SH. ANIL KUMAR SISODIA (DHJS),JOINT REGISTRAR(JUDICIAL)

O R D E R

21.04.2014

IA No. 7092/2014 and IA No. 7095/2014 and CS(OS) 1096/2014

Ld. proxy counsel for plaintiff seeks adjournment on the ground that main counsel is not well.

Put up on 12th August, 2014.

ANIL KUMAR SISODIA (DHJS)

JOINT REGISTRAR (JUDICIAL)

APRIL 21, 2014

Savita

$ 24

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10299304	15/07/2011	30,000,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B17713363
2	10229939	14/07/2010	200,000,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A89750038
3	10224343	15/06/2010	250,000,000.00	BARCLAYS BANK PLC	EROS CORPORATE TOWERS, NEHRU PLACE, NEW DELHI-1, NEW DELHI, DELHI - 110019, INDIA	A87508255
4	10208655	30/06/2011 *	580,950,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B18918318
5	10152900	27/03/2009	105,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA HOUSE, 25 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A60783727
6	10141857	30/06/2011 *	30,000,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B18917526
7	10141853	30/06/2011 *	275,000,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B18916072
8	10141854	09/02/2009	102,800,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A56453871
9	10122094	26/09/2008	270,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA HOUSE, 25 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A45971967
10	10118638	28/08/2008	330,000,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A44208650
11	10117132	22/08/2008	270,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA HOUSE, 25 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A43586585
12	10117141	22/08/2008	270,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA HOUSE, 25 BARAKHAMBA ROAD, NEW DELHI, DELHI  - 110001, INDIA	A43586858
13	10117171	22/08/2008	270,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA HOUSE, 25 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A43587070
14	10101274	03/04/2008	45,000,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A37706165
15	10084275	12/05/2009 *	35,000,000.00	3I INFOTECH TRUSTEESHIP SERVICES LIMITED	3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA	A63770366
16	10084274	12/05/2009 *	463,400,000.00	3I INFOTECH TRUSTEESHIP SERVICES LIMITED	3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA	A63768550
17	10084276	07/01/2008	428,400,000.00	3I INFOTECH TRUSTEESHIP SERVICES LIMITED	3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA	A31021090
18	10073161	31/03/2010 *	205,000,000.00	STANDARD CHARTERED BANK	CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A83142539

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
Other debt unsecured	117.084	64.084
Total	117.084	64.084

BUSINESS OVERVIEW AND PERFORMACNE

During the year, the company continued to establish its position as leading outside broadcast (OB) service provider for delivery of Live sports, Entertainment and News Content

The Company continued to provide

· Systems Solutions, Integration and Broadcast Services

Production and Post-Production Services

During the year ZCL has provided all Host Broadcasting and Unilateral Production Kits /Facilities for the prestigious Indian Premier League Cricket

ZCL is also providing complete Cricket Outdoor Broadcast Facilities and Engineering support for international and domestic matches to BCCl

In view of its contracts with the media houses and an ever increasing client base, ZCL is now the biggest broadcast facilities and solutions provider in South Asia offering a comprehensive spectrum of full service capabilities and turnkey technology solutions.

INDUSTRY STRUCTURE AND DEVELOPMENTS

India has grown the fastest growth rate among the large democracies and is today the fourth largest economy in term of purchasing power parity. Over the years, consumption expenditures have been rising due to rising disposable incomes. Lifestyle changes have brought about changes in economic activity and this is spurring the growth of Indian Entertainment and Media Industry.

The performance of the Entertainment and Media Industry has surpassed the performance of Indian Economy as well as most other industries as the recovery of Indian market after economic slowdown is better than expected, the size of the Entertainment and Media Industry in India is expected to grow with tremendous growth rate.

BUSINESS STRATEGY AND FUTURE PLANS

The Company is in its growth stage in order to maintain its position as the prominent Broadcast Services Provider of South East Asia. The Company has been able to maintain its position of dominance due to a successful record of providing flawless and seamless services with world class performance standards. As a result of its high quality performance it has been able to bag big contracts for various segments of the television industry as well as for mega events

Keeping eye on the overall growth the media industry your Company has its plans in place.

FIXED ASSETS:

· Building

Office equipments

Computer equipments

Other equipments

Furniture fixtures

Vehicles

Leasehold building

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. 61.34
UK Pound	1	Rs. 103.44
Euro	1	Rs. 81.96

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	SUM
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		34

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.