MIRA INFORM REPORT

Report Date :

31.12.2014

IDENTIFICATION DETAILS

Name :	BRIDGESGI SOLUTIONS INDIA PRIVATE LIMITED
Registered Office :	#17/4C, 17/9C, 4th Floor, Maruthi Chambers, Roopena Agrahara, Hosur Road, Bangalore – 560068, Karnataka
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.01.2014
Com. Reg. No.:	08-072985
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U72200KA2014FTC072985
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in the business of development of Software and related services and provides consulting services.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Maximum Credit Limit :	USD 334
Status :	New Business
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a new company incorporated during 09^th January 2014, and it is establishing itself gradually. Management has denied to disclose any information to us. As per latest financial record of 2014, the company has achieved minimal sales turnover in its first year of business operations. Trade relations are improving. Business is active. Payments are reported to be slow. The company can be considered for business dealings on safe and secured 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

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

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 (Tel No.: 91-80-49619831 / 91-9900038411)

LOCATIONS

Registered Office/ Corporate Office :	#17/4C, 17/9C, 4th Floor, Maruthi Chambers, Roopena Agrahara, Hosur Road, Bangalore – 560068, Karnataka, India
Tel. No.:	91-80-49619831
Fax No.:	Not Available
E-Mail :	pancha@bridgesgi.com sales.apac@bridgesgi.com
Website :	www.brigesgi.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Anand Panchapakesan

Designation :

Director

Address :

Flat No-96 9th Floor, C-2 Karmaakshetra Flank Road, Sion (East), Mumbai - 400037, Maharashtra, India

Date of Birth/Age :

04.10.1972

Date of Appointment :

09.01.2014

DIN No.:

06389996

Name :

Mr. Anthony Jang

Designation :

Director

Address :

28, Cove Lane, Westhampton, New York, 11978, United States of America

Date of Birth/Age :

09.05.1968

Date of Appointment :

09.01.2014

DIN No.:

06702016

Name :

Douglas A Brochu

Designation :

Director

Address :

3 North Shore Road, East Wakefield, New Hampshire, 03830, United States of America

Date of Birth/Age :

25.12.1958

Date of Appointment :

30.09.2014

DIN No.:

06783031

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	U72200KA2014FTC072985	BridgeSGI Solutions India Private Limited	Director	30/09/2014	01/02/2014	-	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Bridge Solutions Group Corp	9999
Anand Panchapakesan	1
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	99.99
Directors or relatives of Directors	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	The company is engaged in the business of development of Software and related services and provides consulting services.
Products :	Software
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :	Not Divulged
Customers :	Not Divulged
No. of Employees :	Information denied by management
Bankers :	Not Divulged
Facilities :	--

Banking Relations :	--
Auditors :
Name :	CGS and Company Chartered Accountants
Address :	# 48, 1^st And 3^rd Floor, R V Road, Basavanagudi, Bangalore – 560004, Karnataka, India
Tel. No.:	91-80-43343600 – 610
Fax No.:	91-80-43343606
E-Mail :	info@cgsco.in
PAN No.:	AAAFC6336K
Memberships :	--
Collaborators :	--
Holding Company :	Bridge Solutions Group, Corp

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	09.01.2014 to 31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	0.017
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	0.117
(3) Non-Current Liabilities
(a) long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.000
(c) Other current liabilities	3.774
(d) Short-term provisions	0.000
Total Current Liabilities (4)	3.774
TOTAL	3.891
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	2.600
(e) Other Non-current assets	0.000
Total Non-Current Assets	2.600
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	0.625
(e) Short-term loans and advances	0.666
(f) Other current assets	0.000
Total Current Assets	1.291
TOTAL	3.891

PROFIT & LOSS ACCOUNT

	PARTICULARS			09.01.2014 to 31.03.2014
	SALES
		Income		0.156
		Other Income		NA
		TOTAL		NA
	EXPENSES			NA
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			0.025
Less	DEPRECIATION/ AMORTISATION			0.000
	PROFIT/(LOSS) BEFORE TAX			0.025
Less	TAX			0.008
	PROFIT/(LOSS) AFTER TAX			0.017
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			0.000
	BALANCE CARRIED TO THE B/S			0.017
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	0.156
	TOTAL EARNINGS			0.156
	Earnings / (Loss) Per Share (Rs.)			1.72

KEY RATIOS

PARTICULARS		09.01.2014 to 31.03.2014
Net Profit Margin (PAT/Sales)	(%)	10.90
Return on Total Assets (PBT/Total Assets}	(%)	0.64
Return on Investment (ROI) (PBT/Networth)		0.21
Debt Equity Ratio (Total Debt /Networth)		0.00
Current Ratio (Current Asset/Current Liability)		0.34

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 one year	Yes
12]	Profitability for last one year	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	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	No
24]	Banking facility details	No
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Note: The registrar office of the company has been shifted from No. 110/6, 2nd Floor, Lalbagh Road Cross, Krishnappa Layout, Bangalore – 560027, Karnataka, India w.e.f. 19.03.2014

BACKGROUND:

Subject was incorporated on January 9th Two Thousand Fourteen. The company is engaged in the business of development of Software and related services and provides consulting services to Bridge Solutions Group USA and India led engagements and supports Bridge Solutions Group USA global client base in managed services.

NO CHARGES EXIST FOR COMPANY

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.63.75
UK Pound	1	Rs.98.88
Euro	1	Rs.77.32

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	KAR
Report Prepared by :	VNT

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.