MIRA INFORM REPORT

Report Date :

09.12.2014

IDENTIFICATION DETAILS

Name :	WIPTECH PERIPHERALS PRIVATE LIMITED
Registered Office :	101 Dwarkadhish, Tagore Road, Near Virani Chowk, Rajkot – 380002, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.05.2004
Com. Reg. No.:	04-044166
Capital Investment / Paid-up Capital :	Rs.6.000 Millions
CIN No.: [Company Identification No.]	U72501GJ2004PTC044166
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	RKTW00061F
PAN No.: [Permanent Account No.]	AAACW5307K
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of Services and Sale of computers, Perpherals, Simcards, Telecommunication Equipment’s, Data Storage Equipment’s, Fax and Office Automation Machines.
No. of Employees :	Information denied by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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. Tarde relations seems to be fair. Business is active. Payment terms are reported as usually correct. The company can be considered 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.

EXTERNAL AGENCY RATING

NOT AVAILABLE

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 DENIED

MANAGEMENT NON CO-OPERATIVE (91-281-2464443)

LOCATIONS

Registered / Head Office :	101 Dwarkadhish, Tagore Road, Near Virani Chowk, Rajkot – 380002, Gujarat, India
Tel. No. :	91-281-2464443 / 2460346
Fax No. :	91-281-2490903
E-Mail :	info@wiptech.com support.ahd@wiptech.com gandhidham@wiptech.co.in iliyas.shaikh@wiptech.com
Website :	http://www.wiptech.co.in
Branch Office 1 :	Shop No. 24-25. Plot No. 235-236, Odhavram Market, Ward No. DC2Near Swaminarayan Gurukul Gandhidham, Kutch, India
Tel. No. :	91-2836–235200
Branch Office 2 :	1009, Kevalyadham Appt. Opposite Radio Mirchi, Times of India Press Road, Sattelite, Ahmedabad, Gujarat, India
Tel. No. :	91-79-2676425
Branch Office 3 :	12, Ganraj Society, Behind Tushar-Vasudha Society, Opposite Ghelani Petrol Pump, Nizampura, Vadodara – 390002, Gujarat, India

DIRECTORS

As on 30.09.2014

Name :	Mr. Gopal Keshavlal Khirsariya
Designation :	Director
Address :	301, Megh Malhar Apartment, Panchwati, Rajkot - 360001, Gujarat, India
Date of Birth/Age :	04.11.1960
Date of Appointment :	24.05.2004
DIN No. :	01032709
Name :	Mrs. Rasilaben Gopalbhai Khirsaria
Designation :	Director
Address :	301, Megh Malhar, Panchwati Society Main Road, Behind Panchwati Hall, Rajkot - 360001, Gujarat, India
Date of Birth/Age :	07.10.1960
Date of Appointment :	24.05.2004
DIN No. :	01814584
Name :	Mr. Chetankumar Premjibhai Khant
Designation :	Additional Director
Address :	404, Royal Shelter, Nana Mava Main Road, Beside Gandhi School, Rajkot - 360005, Gujarat, India
Date of Birth/Age :	26.03.1973
Date of Appointment :	01.03.2010
DIN No. :	03151530
Name :	Mr. Bhaveshkumar Vithaldas Patel
Designation :	Additional directo
Address :	B 1001, Kaivalyadham Apartment, Opposite Times Of India Press, Satellite, Ahmedabad - 380015, Gujarat, India
Date of Birth/Age :	26.06.1967
Date of Appointment :	01.03.2010
DIN No. :	03151599

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age
Gopal Keshavlal Khirsariya	180000	30.00
Chetankumar Premjibhai Khant	132000	22.00
Bhaveshkumar Vithaldas Patel	162000	27.00
Rasilaben Gopalbhai Khirsaria	126000	21.00
Total	600000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of Services and Sale of computers, Perpherals, Simcards, Telecommunication Equipment’s, Data Storage Equipment’s, Fax and Office Automation Machines.
Products :	IT AND POWER PRODUCTS v Destop v AMC & FM v Anti Virus v Server v Notepad v Microsoft v High-end Laser Printer v Multifuction Device v Color Printer  v Scanner INDUSTRIAL PRODUCT v Surge Protection Device v Precision power Solution  v Knurr Racks v ASCO Switches v Automatic Controller v Power Server Product v Stabilizer / Rectifiers v 2v Cell - Powerstake v SMF Batteries MORE PRODUCTS v DTH Sarelite TV v Sales & Services v Post-Paid Connection v Corporate tele Solution v Barcoade Scanner  v Barcode Printer v Line printer  v Pass book printer  v Dot Mtrix Printer
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information denied by the management

Bankers :

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

Facilities :

Not Available

Auditors :
Name :	Vidya and Company Chartered Accountants
Address :	325, Galaxy Mall, Besides Haridas Park Society, S. m. Road, Vimanagar, Ahmedabad – 380015, Gujarat, India
Tel. No. :	91-79-40308186
Mobile No. :	91-9824096968
E-Mail :	Nagar.rajendra@vidyaca.com
PAN No. :	AABFV8857D
Memberships :	--
Collaborators :	--
Associates / Subsidiaries :	Nil

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
600000	Equity Shares	Rs.10/- each	Rs.6.000 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	6.000	3.000	3.000
(b) Reserves & Surplus	15.269	18.807	18.108
(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)	21.269	21.807	21.108
(3) Non-Current Liabilities
(a) long-term borrowings	0.367	0.109	0.429
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.367	0.109	0.429
(4) Current Liabilities
(a) Short term borrowings	13.223	7.619	6.513
(b) Trade payables	10.093	8.793	12.161
(c) Other current liabilities	3.581	2.280	3.334
(d) Short-term provisions	0.408	0.195	0.195
Total Current Liabilities (4)	27.305	18.887	22.203
TOTAL	48.941	40.803	43.740
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.321	2.024	2.423
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.145	0.129
(c) Deferred tax assets (net)	0.159	0.132	0.004
(d) Long-term Loan and Advances	1.840	1.695	1.230
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	4.320	3.996	3.786
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	10.298	5.956	5.719
(c) Trade receivables	30.502	27.131	25.353
(d) Cash and cash equivalents	0.370	0.325	0.512
(e) Short-term loans and advances	3.451	3.395	8.370
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	44.621	36.807	39.954
TOTAL	48.941	40.803	43.740

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		NA	NA	NA
Less/ Add	DEPRECIATION/ AMORTISATION		3.909	3.479	NA
	PROFIT/ (LOSS) BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX		3.290	2.908	NA
	Earnings / (Loss) Per Share (Rs.)		1.97	4.85	--

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt/Networth)	0.64	0.35	0.33
Current Ratio (Current Asset/Current Liability)	1.63	1.95	1.80

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	3.000	3.000	6.000
Reserves & Surplus	18.108	18.807	15.269
Net worth	21.108	21.807	21.269
long-term borrowings	0.429	0.109	0.367
Short term borrowings	6.513	7.619	13.223
Total borrowings	6.942	7.728	13.590
Debt/Equity ratio	0.329	0.354	0.639

LOCAL AGENCY FURTHER INFORMATION

NOTE: Current Maturities of Long Term Debts is Not Available.

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	No
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10244029	18/09/2014 *	27,500,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	C21434907

* Date of charge modification

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 records 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.61.92
UK Pound	1	Rs.96.37
Euro	1	Rs.76.10

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	SUB
Report Prepared by :	ANK

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	5
-- PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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.