MIRA INFORM REPORT

Report Date :

05.12.2014

IDENTIFICATION DETAILS

Name :	HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED (w.e.f. 24.12.2008)
Formerly Known As :	VIRTUAL MARKETING (INDIA) PRIVATE LIMITED
Registered Office :	F-1, 1^st Floor, Laxmi Woollen Mills Estate, Shakti Mills Lane, Off Dr. E Moses Road, Mahalaxmi, Mumbai - 400013, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	01.04.1999
Com. Reg. No.:	11-119259
Capital Investment / Paid-up Capital :	Rs. 28.703 Millions
CIN No.: [Company Identification No.]	U12000MH1999PTC119259
TAN No.: [Tax Deduction & Collection Account No.]	MUMV06740G
PAN No.: [Permanent Account No.]	AAACV289H
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of Digital Media Entertainment across various platforms including Mobile.
No. of Employees :	1029 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There seems some continuous dip in the profit of the company however networth of the company is satisfactory. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – June 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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long-term banking facilities: “BBB+”
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	12.02.2014

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 (Tel. No.: 91-22-24903344)

LOCATIONS

Registered/ Corporate Office :	F-1, 1^st Floor, Laxmi Woollen Mills Estate, Shakti Mills Lane, Off Dr. E Moses Road, Mahalaxmi, Mumbai - 400013, Maharashtra, India
Tel. No.:	91-22-24903344/ 40853344
Fax No.:	91-22-24903355
E-Mail :	shilpa@hungama.com info@hungama.com companysecretary@hungama.com devang.jani@hungama.com lshita.mookherjee@hungama.com
Website :	www.hungama.org www.bollywoodhungama.com
Branch Offices :	Haryana · 2nd Floor, Cybiz Centre, Plot No. 309-310, Udyog Vihar, Phase IV, Gurgaon -122015, Haryana, India Tel : 91-124-4503344 Fax : 91-124-4503355 Kolkata · 15/C, Rahim Ostagar Road, Flat 3A, Apanjan Apartment, Jodhpur Park, Kolkata - 700045, West Bengal, India Phone: 91-33-40060426 Bangalore · No.2582, 17th Main, 2nd Cross, HAL 2nd Stage, Indiranagar, Bangalore – 560008, Karnataka, India Board No: 91-80-43513344 Fax No: 91-80-43513355 Chennai · No. 7, Lalithapuram Street, Royapettah, Chennai - 600014, Tamilnadu, India Tel : 91-44–42123344/ 42633344 Fax: 91-44-42637312
Overseas Office :	Located at: · Dubai

DIRECTORS

As on 30.09.2013

Name :

Mr. Neeraj Roy

Designation :

Managing director

Address :

602, RNA Aurovilla, 6th Floor, Near Poddar School, Jain Derasar Marg, Opposite Jain Mandir, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

13.08.1967

Date of Appointment :

06.09.2007

PAN No.:

ADLPR8342L

DIN No.:

00285875

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	U12000MH1999PTC119259	HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED	Managing director	06-09-2007	12-04-1999	-	Active	NO
2	U67120MH1999PTC119811	ALCHEMY CAPITAL MANAGEMENT PRIVATE LIMITED	Director	10-06-1999	10-06-1999	-	Active	NO
3	U99999MH1994NPL076530	MEDIA RESEARCH USERS COUNCIL	Director	14-09-2004	14-09-2004	29-09-2006	Active	NO
4	U51101MP1998PTC012742	ASTUTE SYSTEMS TECHNOLOGY PRIVATE LIMITED	Director	29-10-2007	29-10-2007	-	Active	NO
5	U22110MH2006PTC160241	CARTWHEEL CREATIVE CONSULTANCY PRIVATE LIMITED	Director	26-04-2010	26-04-2010	13-06-2012	Active	NO
6	U74300MH1991GAP062428	INDIA CHAPTER OF INTERNATIONAL ADVERTISING ASSOCIATION.	Director	27-08-2010	27-08-2010	-	Active	NO
7	U74900DL2011PTC228196	AALAP DIGITAL MUSIC PRIVATE LIMITED	Director	01-12-2011	01-12-2011	-	Active	NO
8	U74120MH2011PTC224699	HUNGAMA DIGITAL SERVICES PRIVATE LIMITED	Director	08-12-2011	08-12-2011	-	Active	NO
9	U74999MH2012PTC226152	HUNGAMA .COM PRIVATE LIMITED	Director	17-01-2012	17-01-2012	-	Active	NO
10	U74900MH2012PTC233617	HUNGAMA SMART CLOUD PRIVATE LIMITED	Director	20-07-2012	20-07-2012	-	Active	NO
11	U74999MH2013PTC242710	HUNGAMA GAMESHASHTRA PRIVATE LIMITED	Director	01-05-2013	01-05-2013	-	Active	NO
12	U51900MH2006PLC160647	THE MOBILESTORE LIMITED	Director	27-09-2013	27-09-2013	-	Active	NO
13	AAB-1270	APTECH HUNGAMA DIGITAL LEARNING LLP	Body corporate as Designated Partner	20-09-2012	20-09-2012	-	Active	NO

Name :

Mr. Hiren Haresh Ved

Designation :

Director

Address :

B/606-607 Mistry Apartment, Parsi Panchayat Service Road, Andheri (East), Mumbai – 400069, Maharashtra, India

Date of Birth/Age :

07.06.1970

Date of Appointment :

30.05.2000

DIN No.:

00049597

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	U67120MH1999PTC119811	ALCHEMY CAPITAL MANAGEMENT PRIVATE LIMITED	Director	11-05-1999	11-05-1999	-	Active	NO
2	U67190MH2000PTC123897	ALCHEMY INVESTMENT-ADVISORY SERVICES PRIVATE LIMITED	Director	28-01-2000	28-01-2000	-	Active	NO
3	U72200KA1992PTC013696	IDS NEXT BUSINESS SOLUTIONS PRIVATE LIMITED	Nominee director	07-03-2000	07-03-2000	-	Active	NO
4	U72300TN2000PTC044523	NITTANY BILLING SERVICES PRIVATE LIMITED	Director	24-03-2000	24-03-2000	25-07-2005	Strike off	NO
5	U72400TN2000PTC044486	NITTANY TRANSCRIPTION SERVICES PRIVATE LIMITED	Director	24-03-2000	24-03-2000	25-07-2005	Strike off	NO
6	U72400TN2000PTC044521	NITTANY IT ENABLED SERVICES PRIVATE LIMITED	Director	24-03-2000	24-03-2000	25-07-2005	Strike off	NO
7	U12000MH1999PTC119259	HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED	Director	30-05-2000	30-05-2000	-	Active	NO
8	U72900DL2002PLC116668	CITIXSYS TECHNOLOGIES LIMITED	Additional director	06-11-2007	06-11-2007	31-03-2008	Active	NO
9	U29309TG1985PLC005246	SPECK SYSTEMS LTD	Director	27-09-2008	08-12-2007	15-03-2010	Active	NO

Name :

Mr. Ashish Rameshchandra Kacholia

Designation :

Director

Address :

44, Vaikunth Co-operative Housing Society Limited, Lallubhai Park Road, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Birth/Age :

14.04.1969

Date of Appointment :

12.04.1999

DIN No.:

00252649

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	U12000MH1999PTC119259	HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED	Director	12-04-1999	12-04-1999	Active	NO
2	U67120MH1995PTC086388	LUCKY INVESTMENT MANAGERS PRIVATE LIMITED	Director	25-04-1999	25-04-1999	Active	NO
3	U67120MH1995PTC086404	SAMTA INVESTRADE PRIVATE LIMITED	Director	01-03-2000	01-03-2000	Active	NO
4	U85191MH2013NPL250969	CHEMBUR GOLF WELFARE FOUNDATION	Director	12-12-2013	12-12-2013	Active	NO

Name :

Mr. Rajiv Ambrish Agarwal

Designation :

Director

Address :

Chamaria Niwas, 3^rd Floor, 41, Mahant Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India

Date of Birth/Age :

28.03.1971

Date of Appointment :

25.09.2008

DIN No.:

0379990

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status
1	U85110AP1992PLC014728	QUALITY CARE INDIA LIMITED	Director	27-12-2005	27-12-2005	30-03-2012	Active
2	U74999PN2006PLC128787	MAYA ENTERTAINMENT LIMITED	Director	20-07-2006	20-07-2006	01-04-2011	Active
3	L72900MH2000PLC123841	APTECH LIMITED	Director	28-06-2007	29-10-2006	-	Active
4	L55101AP1965PLC001048	VICEROY HOTELS LIMITED	Alternate director	31-01-2007	31-01-2007	15-10-2012	Active
5	U29224GJ1987PLC010044	JOHN ENERGY LIMITED	Director	30-09-2008	08-05-2008	-	Active
6	U24230GJ1984PLC007440	CONCORD BIOTECH LIMITED	Director	30-09-2009	30-06-2008	-	Active
7	U12000MH1999PTC119259	HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED	Director	25-09-2008	01-09-2008	-	Active
8	U65910MH2007PTC172599	EQUIRUS CAPITAL PRIVATE LIMITED	Director	10-08-2010	10-08-2010	-	Active
9	U74120MH2011PTC224699	HUNGAMA DIGITAL SERVICES PRIVATE LIMITED	Director	08-12-2011	08-12-2011	08-09-2012	Active
10	U74999MH2012PTC226152	HUNGAMA .COM PRIVATE LIMITED	Director	17-01-2012	17-01-2012	-	Active
11	AAB-9744	TIGER CONSULTANCY LLP	Designated Partner	01-01-2014	01-01-2014	-	Active

Name :

Mr. Rakesh Radheyshyam Jhunjhunwala

Designation :

Director

Address :

16 C, 6^th Floor, Il Palazzo, Lt Gi Rd M Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

05.07.1960

Date of Appointment :

31.03.2008

PAN No.:

ACPPJ9449M

DIN No.:

00777064

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	U12000MH1999PTC119259	HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED	Director	31-03-2008	02-08-2001	-	Active	NO
2	L27101PN1985PLC038031	PRAJ INDUSTRIES LIMITED	Director	02-03-2004	02-03-2004	28-07-2007	Active	NO
3	L72200AP1990PLC011146	NCC LIMITED	Director	10-03-2004	10-03-2004	27-09-2013	Active	NO
4	L28939PN1987PLC043953	BILCARE LIMITED	Director	31-03-2004	31-03-2004	04-07-2009	Active	NO
5	U24110MH2001PLC134105	INNOVASSYNTH TECHNOLOGIES (INDIA ) LIMITED	Director	14-06-2004	14-06-2004	25-06-2008	Active	NO
6	L92100MH1997PLC108981	PRIME FOCUS LIMITED	Director	22-08-2004	22-08-2004	26-07-2013	Active	NO
7	U80210MH2004PTC148177	OHM EDUCOM FOUNDATION PRIVATE LIMITED	Director	24-08-2004	24-08-2004	17-06-2010	Active	NO
8	U24230GJ1984PLC007440	CONCORD BIOTECH LIMITED	Director	13-12-2004	13-12-2004	30-06-2008	Active	NO
9	L22100MH1981PLC024052	NEXT MEDIAWORKS LIMITED	Director	31-01-2005	31-01-2005	20-04-2010	Active	NO
10	L67120KL1994PLC008403	GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED	Director	28-03-2005	28-03-2005	-	Active	NO
11	U74920MH1982PLC027283	TOPS SECURITY LIMITED	Director	23-05-2005	23-05-2005	22-07-2008	Active	NO
12	L55101AP1965PLC001048	VICEROY HOTELS LIMITED	Director	11-08-2005	11-08-2005	15-10-2012	Active	NO
13	L72900MH2000PLC123841	APTECH LIMITED	Director	28-10-2005	28-10-2005	-	Active	NO
14	U19200MH1977PLC019449	METRO SHOES LTD	Director	14-03-2007	14-03-2007	-	Active	NO
15	U72200GA2006PTC004816	INVENTURUS KNOWLEDGE SOLUTIONS PRIVATE LIMITED	Director	26-03-2007	26-03-2007	-	Active	NO
16	U74140DL2004PTC124402	ASPIRE HUMAN CAPITAL MANAGEMENT PRIVATE LIMITED	Director	30-09-2008	24-11-2007	20-02-2009	Active	NO
17	L52602MH1996PLC192090	FUTURE CONSUMER ENTERPRISE LIMITED	Director	30-09-2008	20-02-2008	04-08-2010	Active	NO
18	U45201TG1993PLC057762	DHARTI DREDGING AND INFRASTRUCTURE LIMITED	Director	09-03-2008	09-03-2008	07-01-2009	Active	NO
19	U24230MH1985PLC036952	MANEESH PHARMACEUTICALS LIMITED	Director	30-12-2008	27-03-2008	15-10-2010	Active	NO
20	L34300PN1996PLC104510	AUTOLINE INDUSTRIES LIMITED	Director	27-09-2008	27-06-2008	08-08-2011	Active	NO
21	L74999HR2002PLC034805	A2Z INFRA ENGINEERING LIMITED	Director	30-09-2009	01-07-2009	15-10-2012	Active	NO
22	L65493PN1990PLC058817	DELTA CORP LIMITED	Director	26-09-2011	29-10-2010	-	Active	NO

Name :

Mr. Ralph Robert Simon

Designation :

Director

Address :

9 Elsworthy Road, London, NW33DS, UK

Date of Birth/Age :

19.12.1946

Date of Appointment :

29.09.2010

DIN No.:

03042121

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
1	U12000MH1999PTC119259	HUNGAMA DIGITAL MEDIA ENTERTAINMENT PRIVATE LIMITED	Director	29-09-2010	12-11-2009	Active

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Neha Lashit Sanghvi	71999
Neeraj Ganesh Roy	296806
Lashit Lallubhai Sanghvi	259195
Ashwin Prakash Chandra Kedia	259195
Hiren Haresh Ved	50351
Saleem Sadrudin Mobhani	11246
Suleman Sadrudin Mobhani	11246
Rakesh Radheshyam Jhunjhunwala	493864
Lucky Investment Managers Private Limited	1439
Vijay Sanmukhdas Israni	46265
Tractus Consultants Private Limited	788760
Bengal Finance and Investment Private Limited	131426
Samata Investrade Private Limited	164158
Kunal R Jhunjhunwala	200000
ESOP	84300
Total	2870250

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	27.48
Directors or relatives of Directors	60.22
Others	12.30
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of Digital Media Entertainment across various platforms including Mobile.
Exports :	--
Imports :	--
Terms :
Selling :	--
Purchasing :	--

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Customers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

No. of Employees :

1029 (Approximately)

Bankers :

Bank Name:	NOT DIVULGED
Branch:
Name of the Person (with Designation):
Contact Number:
Name of Account Holder:
Account Number:
Account Since (Date/ Year of A/c Opening):
Average Balance Maintained (Optional):
Credit Facilities Enjoyed (CC/OD/Term Loan):
Account Operation:
Remarks:

IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Loans repayable on demand from banks	1.138	2.697
SHORT TERM BORROWINGS
Rupee term loans from banks	626.852	588.216
Working capital loans from banks	150.000	0.000
Loans repayable on demand from banks	1.880	2.155
Total	779.870	593.068

Banking Relations :	--
Auditors :
Name :	Gandhi Paleja and Associates Chartered Accountants
Address :	I /12, Everest, 10^th Floor, Pandit Madan Mohan Malaviya Marg, Tardeo, Mumbai - 400034, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAAFG0989J
Associates :	· Hungama Digital Services Private Limited CIN No.: U74120MH2011PTC224699 · Aalap Digital Music Private Limited CIN No.: U74900DL2011PTC228196 · SAAVN LLC · Astute Systems Private Limited · Aptech Hungama Digital Learning LLP
Subsidiary Company :	· Hungama .Com Private Limited CIN No.: U74999MH2012PTC226152 · Nautanki.TV Networks Private Limited CIN No.: U72900MH2008PTC177914 · Hungama Smart Cloud Private Limited CIN No.: U74900MH2012PTC233617 · Hungama (Bangladesh) Private Limited · Hungama UK Limited · Hungama (Singapore) PTE. Limited · Hungama FZE Limited · Hungama FZ LLC
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Rare Enterprises · Samta Investrade Private Limited

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
22,000,000	Equity Shares	Rs.10/- each	Rs. 220.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,870,250	Equity Shares	Rs. 10/- each	Rs. 28.703 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	28.703	28.703	26.981
(b) Reserves & Surplus	1107.517	1041.636	895.733
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1136.220	1070.339	922.714
(3) Non-Current Liabilities
(a) long-term borrowings	151.138	152.697	152.312
(b) Deferred tax liabilities (Net)	18.439	0.778	12.509
(c) Other long term liabilities	7.074	7.817	7.817
(d) long-term provisions	39.357	43.090	31.659
Total Non-current Liabilities (3)	216.008	204.382	204.297
(4) Current Liabilities
(a) Short term borrowings	778.732	665.371	533.892
(b) Trade payables	438.626	435.396	323.566
(c) Other current liabilities	159.026	129.369	180.220
(d) Short-term provisions	81.890	117.177	83.950
Total Current Liabilities (4)	1458.274	1347.313	1121.628
TOTAL	2810.502	2622.034	2248.639
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	136.553	143.517	102.321
(ii) Intangible Assets	46.773	41.476	33.526
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	60.439	30.129	0.624
(b) Non-current Investments	22.126	42.589	75.088
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	61.913	99.691	126.895
(e) Other Non-current assets	7.018	1.074	1.004
Total Non-Current Assets	334.822	358.476	339.458
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.054
(c) Trade receivables	1292.559	1484.472	1276.564
(d) Cash and cash equivalents	268.975	133.964	173.098
(e) Short-term loans and advances	799.738	629.322	454.465
(f) Other current assets	114.408	15.800	5.000
Total Current Assets	2475.680	2263.558	1909.181
TOTAL	2810.502	2622.034	2248.639

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	GROSS INCOME		3416.700	3944.600	3095.500
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT AFTER TAX		65.900	145.900	207.800
	EARNINGS IN FOREIGN CURRENCY		82.368	85.681	32.256
	Earnings Per Share (Rs.)		28.70	50.83	72.40

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt/Networth)	0.82	0.76	0.74
Current Ratio (Current Asset/Current Liability)	1.70	1.68	1.70

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	26.981	28.703	28.703
Reserves & Surplus	895.733	1041.636	1107.517
Net worth	922.714	1070.339	1136.220
long-term borrowings	152.312	152.697	151.138
Short term borrowings	533.892	665.371	778.732
Total borrowings	686.204	818.068	929.870
Debt/Equity ratio	0.744	0.764	0.818

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Gross Income	3095.500	3944.600	3416.700
		27.430	(13.383)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Gross Income	3095.500	3944.600	3416.700
Profit	207.800	145.900	65.900
	6.71%	3.70%	1.93%

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)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10256070	03/06/2013 *	750,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA	B84595503

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Loans and advances from others	150.000	150.000
SHORT TERM BORROWINGS
Loans and advances from others	0.000	75.000
Total	150.000	225.000

CORPORATE INFORMATION

The Company was incorporated in Mumbai, Maharashtra, India on 1st April, 1999. The Company is engaged in the business of Digital Media Entertainment across various platforms including Mobile.

OPERATING RESULTS

During the year ended March 31, 2013 the company earned a net profit after tax of Rs.65.900 Millions (previous year Rs. 145.900 Millions) on a gross income of Rs. 3416.700 Millions (previous year Rs. 3944.600 Millions).

OVERVIEW

The Mobile Value Added Services (MVAS) market is expected to move further from the SMS based services to Internet-based and application based services. However, the continuously changing TRAI guidelines have resulted in a reduction in the MVAS market size during the last few months and will continue to pose a challenge for the coming year.

AWARDS AND RECOGNITION

The company maintained its winning streak with several awards in Mobile Entertainment and Digital and Mobile marketing, both in the Indian and International markets.

The Digital Services Division of the company earned the Most Preferred Marketing Developer badge by Facebook.

FIXED ASSETS

Tangible Assets

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

Intangible Assets

· 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.61.88
UK Pound	1	Rs.97.02
Euro	1	Rs.76.13

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.