MIRA INFORM REPORT

Report Date :

21.07.2014

IDENTIFICATION DETAILS

Name :	LINK QUEST TELECOM LIMITED (w.e.f. 27.10.2008)
Formerly Known As :	LINK QUEST TELECOM PRIVATE LIMITED
Registered Office :	C-314, Defence Colony, 1^st Floor, New Delhi – 110024
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.07.1996
Com. Reg. No.:	55-80683
Capital Investment / Paid-up Capital :	Rs.10.500 Millions
CIN No.: [Company Identification No.]	U64201DL1996PLC080683
TAN No.: [Tax Deduction & Collection Account No.]	DELL01174F
PAN No.: [Permanent Account No.]	AAACL1613M
Legal Form :	Private Limited Liability Company
Line of Business :	Subject offers integrated telecom infrastructure related services for operators and equipment manufacturers and provide premium outsourcing solutions.
No. of Employees :	Information denied by management

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

Maximum Credit Limit :	USD 300000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealing 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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating=BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	27.03.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating=A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	27.03.2014

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 DENIED BY

Name :	Mr. Sunil Kaul
Designation :	Accounts Executive
Contact No.:	91-120-4634000
Date :	15.07.2014

LOCATIONS

Registered Office :	C-314, Defence Colony, 1^st Floor, New Delhi – 110024, India
Tel. No.:	91-120-4634000
Fax No.:	91-120-4634040
E-Mail :	info@linkquestindia.com
Website :	www.linkquestindia.com
Kolkata Office :	Millenium City, IT Park, Tower II, 8^th Floor, Plot No.63, Block - DN, Sector-5, Salt Lake City, Kolkata, West Bengal, India
Tel. No.:	91-33-40137000
Fax No.:	91-33-40137070
Regional Office :	G-25, Ground Floor, Sector-03, Noida – 201301, Uttar Pradesh, India

DIRECTORS

AS ON 11.09.2013

Name :

Mr. Shomenath Roychowdhury

Designation :

Managing Director

Address :

15B, Mandeville, Gardens, 4^th Floor, Kolkata – 700019, West Bengal, India

Date of Birth/Age :

07.02.1959

Date of Appointment :

17.07.2007

DIN No.:

00791903

PAN No.:

ADJPR7223E

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	U70101WB1998PTC092778	SNR CONSTRUCTIONS PRIVATE LIMITED	Director	11/12/1998	11/12/1998	20/09/2012	Active	NO
2	U70101WB1998PTC092781	SNR REALTORS PRIVATE LIMITED	Director	11/12/1998	11/12/1998	20/09/2012	Active	NO
3	U24231WB1995PLC068782	SAF FERMION LTD.	Managing director	24/09/2012	24/09/2002	-	Active	NO
4	U85100WB2004PTC097937	PELICAN MEDICAL SPECIALITIES PRIVATE LIMITED	Director	26/02/2004	26/02/2004	-	Active	NO
5	U70200WB1991PTC052146	LAXMI HOUSING UDYOG PVT.LTD.	Director	08/09/2005	08/09/2005	-	Active	NO
6	U85110WB2006PTC108291	KIDZ HEALTHCARE PVT LTD	Director	24/02/2006	24/02/2006	-	Active	NO
7	U64201DL1996PLC080683	LINK QUEST TELECOM LIMITED	Managing director	01/12/2013	17/07/2007	-	Active	NO
8	U72200WB1998PTC092777	S. R. DATA SERVICES PRIVATE LIMITED	Director	17/05/2008	17/05/2008	31/08/2008	Active	NO
9	U74899DL1995PTC065558	LUNAWAT ESTATE DEVELOPMENT AND APARTMENTS PRIVATE LIMITED	Additional director	01/01/2011	01/01/2011	-	Active	NO

Name :

Mr. Satya Brata Saikia

Designation :

Director

Address :

Bongol Apukhuri, Jorhat – 785001, Assam, India

Date of Birth/Age :

10.02.1937

Date of Appointment :

17.07.2007

DIN No.:

00492141

Pan No.:

ANDPS1818C

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	U15492WB1923PTC004704	THE DOLAGURI TEA CO PVT LTD	Director	01/10/1975	01/10/1975	01/12/2010	Active	NO
2	U45309AS1989PTC003185	ORION INDIA PVT LTD	Director	15/02/1989	15/02/1989	-	Active	NO
3	U70200AS1999PTC005926	ORION REAL ESTATES PRIVATE LIMITED	Director	03/11/1999	03/11/1999	-	Active	NO
4	U74210AS1999PTC005927	ORION SUPERMARKET PRIVATE LIMITED	Director	03/11/1999	03/11/1999	-	Strike off	NO
5	U51109AS1999PTC005953	ORION PACKERS PRIVATE LIMITED	Director	24/11/1999	24/11/1999	-	Strike off	NO
6	U85100WB2004PTC097937	PELICAN MEDICAL SPECIALITIES PRIVATE LIMITED	Director	26/02/2004	26/02/2004	20/12/2012	Active	NO
7	U24231WB1995PLC068782	SAF FERMION LTD.	Director	14/12/2004	14/12/2004	-	Active	NO
8	U64201DL1996PLC080683	LINK QUEST TELECOM LIMITED	Director	30/09/2008	17/07/2007	-	Active	NO
9	U92199AS2006PTC008130	ROYALCIRCLE GARDENS & RESORT PRIVATE LIMITED	Director	01/08/2007	01/08/2007	04/10/2007	Active	NO

Name :

Mr. Partha Ranjan Das

Designation :

Director

Address :

AE-377, Sector-I, Salt Lake City, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

06.06.1956

Date of Appointment :

17.07.2007

DIN No.:

00492135

Pan No.:

AFQPD3629D

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	U15124WB1992PTC055983	ESSAR FERMION PVT.LTD.	Director	15/10/1997	15/10/1997	-	Active	NO
2	U24231WB1995PLC068782	SAF FERMION LTD.	Director	25/01/1998	25/01/1998	-	Active	NO
3	U64201DL1996PLC080683	LINK QUEST TELECOM LIMITED	Director	30/09/2008	17/07/2007	-	Active	NO
4	U70109WB2007PTC119428	KARNASUBARNA REALTY PRIVATE LIMITED	Director	10/10/2007	10/10/2007	-	Active	NO
5	U74200WB2007PTC120310	PENTARCH DESIGNS PRIVATE LIMITED	Director	08/11/2007	08/11/2007	25/07/2011	Active	NO

Name :

Mr. Debabrata Kumar Mitra

Designation :

Director

Address :

19 Lansbowne Terrace, Flat No.3A, Kolkata – 700026, West Bengal, India

Date of Appointment :

17.07.2007

DIN No.:

00492015

Pan No.:

AECPM9282L

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	U15124WB1992PTC055983	ESSAR FERMION PVT.LTD.	Director	16/11/1998	16/11/1998	-	Active	NO
2	U24231WB1995PLC068782	SAF FERMION LTD.	Director	14/12/2004	14/12/2004	-	Active	NO
3	U64201DL1996PLC080683	LINK QUEST TELECOM LIMITED	Director	30/09/2008	17/07/2007	-	Active	NO

Name :

Mr. Rathin Roy

Designation :

Director

Address :

GD-163, Sector-III, Salt Lake City, Kolkata – 700106, West Bengal, India

Date of Birth/Age :

26.06.1960

Date of Appointment :

17.07.2007

DIN No.:

00492022

PAN No.:

ACSPR6826P

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	U85100WB2004PTC097937	PELICAN MEDICAL SPECIALITIES PRIVATE LIMITED	Director	17/04/2004	17/04/2004	-	Active	NO
2	U64201DL1996PLC080683	LINK QUEST TELECOM LIMITED	Director	30/09/2008	17/07/2007	-	Active	NO
3	U51109WB2008PTC122709	MAHASHAKTI MERCANTILE PRIVATE LIMITED	Director	07/06/2010	07/06/2010	-	Active	NO
4	U85110WB2006PTC108291	KIDZ HEALTHCARE PVT LTD	Director	28/09/2012	07/03/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sunil Kaul
Designation :	Accounts Executive

MAJOR SHAREHOLDERS

AS ON 11.09.2013

Names of Shareholders	No. of Shares
Shomenath Roychowdhury	1047501
Sonali Roychowdhury	2490
Rathin Roy	1
Partha Ranjan Das	1
Debabrata Kumar Mitra	1
Anindya Kanti Ghosh	1
Aditya Vikram Roychowdhury	5
Total	1050000

Equity Share Break up (Percentage of Total Equity)

AS ON 11.09.2013

Category	Percentage
Directors or relatives of Directors	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject offers integrated telecom infrastructure related services for operators and equipment manufacturers and provide premium outsourcing solutions.

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

State Bank of India, SME Branch, Ballygunge, 50A, Gariahat, 5^th Floor, Kolkata – 700019, West Bengal, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Term Loans
HDFC**	0.000	0.049
SBI***	19.541	11.675
Short Term Borrowings
SBI Cash Credit *	77.200	40.165
Total	96.741	51.889

NOTES:

Long Term Borrowings

** Loan is taken for the period of 36 months @ 9.5% and are secured by way of hypothecation of specific asset.

*** Loan is taken for the period of 36 months at interest rate applied by Bank from time to time as pet sanctioned terms, and are secured by way of first charge of entire fixed assets i.e., furniture & fixtures, interiors, fittings and other computer hardware’s both in office and on site. Further secured by equitable mortgage of 6994 Sq. Ft. super built space on 5^th floor of 46/31/1, Gariahat Road, Kolkata-700019 in Ballygunge AC new Market building owned by S.N. Realtors (P) Limited and SNR Constructions (P) Limited

Short Term Borrowings

* Secured by way of hypothecation of stock, book debts and all movable assets of the Company. Further secured by equitable mortgage of 6994 Sq. Ft. super built space on 5^th floor of 46/31/1, Gariahat Road, Kolkata-700019 in Ballygunge AC new Market building owned by S.N. Realtors (P) Limited and SNR Constructions (P) Limited

Banking Relations :	--
Auditors :
Name :	R N Marwah and Company Chartered Accountants
Address :	4/80, Janpath, New Delhi – 110001, India
PAN No.:	AAAFR9496F
Wholly Owned Subsidiary :	Linkquest Telecom (Global) Limited, FZE (UAE)

CAPITAL STRUCTURE

AS ON 11.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1900000	Equity Shares	Rs.10/- each	Rs.19.000 Millions
100000	Preference Shares	Rs.10/- each	Rs.1.000 Million
	Total		Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1050000	Equity Shares	Rs.10/- each	Rs.10.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	10.500	10.500
(b) Reserves & Surplus	65.916	52.094
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	76.416	62.594
(3) Non-Current Liabilities
(a) long-term borrowings	19.541	11.724
(b) Deferred tax liabilities (Net)	5.590	3.301
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.188	0.121
Total Non-current Liabilities (3)	25.319	15.146
(4) Current Liabilities
(a) Short term borrowings	77.200	40.165
(b) Trade payables	3.468	8.836
(c) Other current liabilities	66.538	37.688
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	147.206	86.689
TOTAL	248.941	164.429
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	48.444	42.042
(ii) Intangible Assets	1.246	0.565
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.370	0.343
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	7.018	9.797
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	57.078	52.747
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	2.972	3.688
(c) Trade receivables	153.666	75.634
(d) Cash and cash equivalents	0.078	3.269
(e) Short-term loans and advances	26.787	19.768
(f) Other current assets	8.360	9.323
Total Current Assets	191.863	111.682
TOTAL	248.941	164.429

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		10.500
2] Share Application Money		0.000
3] Reserves & Surplus		38.348
4] (Accumulated Losses)		0.000
NETWORTH		48.848
LOAN FUNDS
1] Secured Loans		20.859
2] Unsecured Loans		0.000
TOTAL BORROWING		20.859
DEFERRED TAX LIABILITIES		0.578
TOTAL		70.285
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		9.592
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories
	Sundry Debtors
	Cash & Bank Balances
	Other Current Assets
	Loans & Advances	95.836
Total Current Assets		95.836
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	35.143
	Provisions
Total Current Liabilities		35.143
Net Current Assets		60.693
MISCELLANEOUS EXPENSES		0.000
TOTAL		70.285

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	476.946	257.027	248.166
		Other Income	0.643	8.728	1.209
		TOTAL (A)	477.589	265.755	249.375
Less	EXPENSES
		Purchase of Stock-in-trade	0.338	0.443	3.417
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	0.716	(0.268)	8.829
		Employee Benefits Expenses	262.716	142.031	147.694
		Auditor’s Remuneration	0.348	0.402	0.505
		Other Expenses	160.719	92.377	67.807
		TOTAL (B)	424.837	234.985	228.252
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		52.752	30.770	21.123
Less	FINANCIAL EXPENSES (D)		10.766	2.929	3.792
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		41.986	27.841	17.331
Less	DEPRECIATION/ AMORTISATION (F)		21.266	6.855	5.529
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		20.720	20.986	11.802
Less	TAX (H)		6.792	7.240	4.063
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		13.928	13.746	7.739
	Earnings Per Share (Rs.)		13.27	13.09	7.37

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.92	5.17	3.10
Net Profit Margin (PBT/Sales)	(%)	4.34	8.16	4.76
Return on Total Assets (PBT/Total Assets}	(%)	8.34	12.79	11.19
Return on Investment (ROI) (PBT/Networth)		0.27	0.34	0.24
Debt Equity Ratio (Total Debt /Networth)		1.27	0.83	0.43
Current Ratio (Current Asset/Current Liability)		1.30	1.29	2.73

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions
Share Capital	10.500	10.500
Reserves & Surplus	52.094	65.916
Net worth	62.594	76.416
long-term borrowings	11.724	19.541
Short term borrowings	40.165	77.200
Total borrowings	51.889	96.741
Debt/Equity ratio	0.829	1.266

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
Sales	248.166	257.027	476.946
		3.571	85.563

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	248.166	257.027	476.946
Profit	7.739	13.746	13.928
	3.12%	5.35%	2.92%

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	Yes
10]	Designation of contact person	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

COMPANY OVERVIEW:

Linkquest Telecom Limited was incorporated on 26h July 1996. Linkquest offers integrated telecom infrastructure related services for operators and equipment manufacturers and provide premium outsourcing solutions. Linkquest operates and maintains systems and networks for Telecom Service Providers, Utilities, Banks, Government Organizations, Defence and several medium and large corporate.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10495189	29/03/2014	30,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	C04648432
2	10069658	20/03/2014 *	197,700,000.00	STATE BANK OF INDIA	SME BRANCH, BALLYGUNGE, 50A, GARIAHAT ROAD, 5TH F LOOR, KOLKATA, WEST BENGAL - 700019, INDIA	C00470088

*Date of modification Charges

FIXED ASSETS:

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

· Cars

· 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.60.33
UK Pound	1	Rs.103.18
Euro	1	Rs.81.58

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	SUM
Report Prepared by :	NKT

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	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--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.