MIRA INFORM REPORT

Report Date :

02.01.2014

IDENTIFICATION DETAILS

Name :	KLAZINA CONSULTANTS LIMITED (w.e.f.18.03.2011)
Formerly Known As :	KLAZINA CYBERSYS BPO SERVICES LIMITED (w.e.f.10.03.2011) KLAZINA CYBERSYS BPO SERVICES PRIVATE LIMITED
Registered Office :	K-37C, Kailash Colony, New Delhi - 110048
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	21.09.2006
Com. Reg. No.:	55-154185
Capital Investment / Paid-up Capital :	Rs. 5.000 Millions
CIN No.: [Company Identification No.]	U74140DL2006PLC154185
TAN No.: [Tax Deduction & Collection Account No.]	DELK08405F
PAN No.: [Permanent Account No.]	AACCK9025E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Real Estate and Software Developer
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appears huge accumulated losses during 2013 due to which the networth of the company has eroded. However, trade relations are fair. Business is active. Payment terms are reported as slow. The company can be considered for business dealings on a 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, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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

India’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

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 :	K-37C, Kailash Colony, New Delhi – 110048, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	aroraaggarwal@gmail.com
Website :	http://www.klazina.in
Corporate Office :	204, 2nd Floor, Tower-A, IRIS Tech Park, Sohna Road, Gurgaon, Haryana, India
Tel. No.:	91-124-4216227/ 28/ 29
Fax No.:	91-124-4140906
E-Mail :	gateway@klazina.in

DIRECTORS

AS ON 28.09.2013

Name :

Mr. Saroj Bhayana

Designation :

Director

Address :

K-37C, Kailash Colony, New Delhi – 110048, India

Date of Birth/Age :

23.08.1948

Date of Appointment :

21.09.2006

DIN No.:

01161182

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	U74140DL2006PLC154185	KLAZINA CONSULTANTS LIMITED	Director	21/09/2006	21/09/2006	Active	NO
2	U51109HR2008PTC038613	PASHO EXPORTS PRIVATE LIMITED	Director	15/12/2008	15/12/2008	Active	NO
3	U74900HR2013PLC048971	KLAZINA IT AND SUPPORT LIMITED	Director	30/04/2013	30/04/2013	Active	NO

Name :

Mr. Alok Rustagi

Designation :

Director

Address :

H. No. 430, Sector-7, Gurgaon - 122001, Haryana, India

Date of Birth/Age :

22.11.1980

Date of Appointment :

19.07.2008

DIN No.:

00626502

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	U51494DL1996PTC078765	EMKAY IMPEX PRIVATE LIMITED	Director	13/09/2006	13/09/2006	-	Active	NO
2	U45200DL2007PTC159566	A-ONE REALCON PRIVATE LIMITED	Director	01/03/2007	01/03/2007	15/01/2010	Active	NO
3	U74140DL2006PLC154185	KLAZINA CONSULTANTS LIMITED	Director	19/07/2008	19/07/2008	-	Active	NO
4	U45201DL2005PTC137155	AKS DEVELOPERS AND BUILDERS PRIVATE LIMITED	Director	01/03/2011	01/03/2011	01/10/2012	Active	NO
5	U45200HR2011PTC043805	SHRI SHYAM GROUP OF COMPANIES COMPLETE REAL ESTATE SOLUTION PRIVATE LIMITED	Director	06/09/2011	06/09/2011	30/09/2012	Active	NO
6	U70200DL2009PTC192882	GRAND SAPPHIRE INFRATECH PRIVATE LIMITED	Director	25/02/2012	25/02/2012	30/09/2012	Active	NO
7	U74900HR2013PLC048971	KLAZINA IT AND SUPPORT LIMITED	Director	30/04/2013	30/04/2013	-	Active	NO

Name :

Mr. Satish Kumar Arora

Designation :

Director

Address :

251, Wimbledon Central, 21-33 Worple Road , London

Date of Birth/Age :

31.12.1937

Date of Appointment :

16.08.2012

DIN No.:

01568278

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	U74140DL2006PLC154185	KLAZINA CONSULTANTS LIMITED	Director	16/08/2012	24/01/2007	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2013

Names of Shareholders	No. of Shares
Bhayana Saroj	249600
Rustagi Alowk	125000
Bhatia Meha	125000
Gandhi Kumud	100
Malik Shakuntala	100
Ahuja Mamta	100
Narula Rita	100
Total	500000

AS ON 28.09.2013

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

BUSINESS DETAILS

Line of Business :

Real Estate and Software Developer

GENERAL INFORMATION

Customers :	· Bharti Airtel Danish Advertising Private limited Iris Tech Park Management Magic Telesystems Mahadev Travels M.I. International Mountain Fresh Enterprises Nirmal Enterprises Perfect Facility Solution Shree Associates Sterling Securities
No. of Employees :	Not Available
Bankers :	· ICICI Bank Limited Standard Chartered Bank Yes Bank Limited

Banking Relations :	--
Auditors :
Name :	Arora Aggarwal and Associates Chartered Accountants
Address :	A-89, Second Floor, Lajpat Nagar – II, New Delhi – 110024, India
Income-tax PAN of auditor or auditor's firm :	AAFPA2330L

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs. 10/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs. 10/- each	Rs. 5.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	5.000	5.000	5.000
(b) Reserves & Surplus	(11.516)	(11.470)	(10.897)
(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)	(6.516)	(6.470)	(5.897)
(3) Non-Current Liabilities
(a) long-term borrowings	6.472	11.697	11.697
(b) Deferred tax liabilities (Net)	0.420	0.006	0.009
(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)	6.892	11.703	11.706
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	4.091	0.326	0.326
(c) Other current liabilities	216.838	2.236	0.021
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	220.929	2.562	0.347
TOTAL	221.305	7.795	6.156
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	12.564	0.091	0.113
(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	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	12.564	0.091	0.113
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	15.244	5.966	5.901
(d) Cash and cash equivalents	21.575	0.438	0.120
(e) Short-term loans and advances	166.633	1.300	0.000
(f) Other current assets	0.072	0.000	0.022
Total Current Assets	203.524	7.704	6.043
Miscellaneous Expenditure	5.217	0.000	0.000
TOTAL	221.305	7.795	6.156

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations	22.193	1.027	0.000
		Other Income	0.000	0.000	0.000
		TOTAL (A)	22.193	1.027	0.000
Less	EXPENSES
		Employee benefit Expenses	9.849	1.285	0.000
		Other Expenses	10.380	0.296	0.076
		TOTAL (B)	20.229	1.581	0.076
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.964	(0.554)	(0.076)
Less	FINANCIAL EXPENSES (D)		0.029	0.001	0.003
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.935	(0.555)	(0.079)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.558	0.022	0.030
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.377	(0.577)	(0.109)
Less	TAX (H)		0.495	(0.004)	0.001
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(0.118)	(0.573)	(0.110)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(11.470)	(10.897)	(10.787)
	MAT CREDIT ENTITLEMENT		0.072	0.000	0.000
	BALANCE CARRIED TO THE B/S		(11.516)	(11.470)	(10.897)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	22.193	0.000	0.000
	Earnings/ (Loss) Per Share (Rs.)		(0.24)	(1.15)	(0.22)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(0.53)	(55.79)	0.00
Net Profit Margin (PBT/Sales)	(%)	1.70	(56.18)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(0.17)	(7.40)	(1.77)
Return on Investment (ROI) (PBT/Networth)		(0.06)	0.09	0.02
Debt Equity Ratio (Total Debt/Networth)		(0.99)	(1.81)	(1.98)
Current Ratio (Current Asset/Current Liability)		0.92	3.01	17.41

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	No
17]	Major suppliers	No
18]	Major customers	Yes
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: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Term Loan – From Director	6.472	11.697
Total	6.472	11.697

FIXED ASSETS:

· Computer

Furniture and Fixture

Mobile and Telephone

Office Equipment

Printer

Software

Vehicles

Water Dispenser

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. 61.93
UK Pound	1	Rs. 102.39
Euro	1	Rs. 85.12

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		12

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.