MIRA INFORM REPORT

Report Date :

03.06.2014

IDENTIFICATION DETAILS

Name :	MINDCOM CONSULTING SERVICES PRIVATE LIMITED
Registered Office :	No 220, 8th E Main, 1st Block, HRBR Layout, Kalyan Nagar, Banaswadi, Bangalore – 560043, Karnataka
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	19.04.2007
Com. Reg. No.:	08-042542
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U72200KA2007PTC042542
TAN No.: [Tax Deduction & Collection Account No.]	BRLM15438D
	AAGCM1385D
PAN No.: [Permanent Account No.]
Legal Form :	Private Limited Liability Company
Line of Business :	Providing consultancy services in the area of information technology, financial, accounting, business process outsourcing, IT enabled services, legal, personal, intellectual property rights, quality management and other related matters.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

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 :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Management of the company has failed to file its financials after 2009 with government department. As per available financials of 2009 company has not started its business activity. Business is active as per status in registrar of companies. Payment terms are unknown. The company can be considered for business dealing 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 – 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

US investment bank Goldman Sachs has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

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.

INFORMATION DENIED BY

Name :	Mr. Subir Ghosh
Designation :	Director
Contact No.:	91-9880137604
Date :	29.05.2014

LOCATIONS

Registered Office :	No 220, 8th E Main, 1st Block, HRBR Layout, Kalyan Nagar, Banaswadi, Bangalore – 560043, Karnataka, India
Tel. No.:	91-80-41675100
Mobile No.:	91-9880137604 (Mr. Subir Ghosh)
Fax No.:	Not Available
E-Mail :	lalith08@cooltoad.com info@mindcomgroup.com sales@mindcomgroup.com resume@mindcomgroup.com
Website :	http://www.mindcomgroup.com

DIRECTORS

As on 30.09.2009

Name :

Mr. Subir Ghosh

Designation :

Director

Address :

No 220, 8th E Main, 1st Block, HRBR Layout, Kalyan Nagar, Banaswadi, Bangalore – 560043, Karnataka, India

Date of Appointment :

19.04.2007

DIN No.:

02057771

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	U74140KA2006PTC040303	J & S MANAGEMENT CONSULTANCY SERVICES(INDIA)PRIVATE LIMITED	Director	28/08/2006	28/08/2006	-	Active	Yes
2	U72200KA2007PTC042542	MINDCOM CONSULTING SERVICES PRIVATE LIMITED	Director	19/04/2007	19/04/2007	-	Active	Yes
3	U74140KA2008PTC047128	PSMI Management India Private Limited	Director	11/07/2008	11/07/2008	-	Active	NO
4	U74999KA2012PTC064708	EWIE SERVICES INDIA PRIVATE LIMITED	Director	03/07/2012	03/07/2012	-	Active	NO
5	U74900KA2013PTC072165	MINDCOM Services Private Limited	Director	27/11/2013	27/11/2013	-	Active	NO

Name :

Mr. Deepak Kumar Ghosh

Designation :

Director

Address :

No 220, 8th E Main, 1st Block, HRBR Layout, Kalyan Nagar, Banaswadi, Bangalore – 560043, Karnataka, India

Date of Birth/Age :

16.11.1940

Date of Appointment :

19.04.2007

DIN No.:

01359892

MAJOR SHAREHOLDERS

As on 30.09.2009

Names of Shareholders	No. of Shares	% of Holding
Deepak Kumar Ghosh	2500	25.00
Subir Ghosh	2500	25.00
Subroto Ghosh	2500	25.00
Rita Ghosh	2500	25.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2009

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing consultancy services in the area of information technology, financial, accounting, business process outsourcing, IT enabled services, legal, personal, intellectual property rights, quality management and other related matters.

GENERAL INFORMATION

No. of Employees :	Information denied by management
Bankers :	Not Divulged

Banking Relations :	--
Auditors :
Name :	Premkumari and Company Chartered Accountants
Address :	# 14/2, 3rd Cross, Kammanahalli, Ganapathy Temple Street, St. Thomas Post, Bangalore – 560084, Karnataka, India
Tel. No.:	91-80-41520372
E-Mail :	premkumarim@yahoo.com
PAN No.:	AITPM4951D

CAPITAL STRUCTURE

As on 30.09.2009

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		31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.689	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.789	0.100
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		2.424	0.000
TOTAL BORROWING		2.424	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		3.213	0.100
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.890	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.286	0.000
	Cash & Bank Balances	0.339	0.037
	Other Current Assets	0.097	0.000
	Loans & Advances	0.000	0.000
Total Current Assets		0.722	0.037
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.449	0.000
	Other Current Liabilities	0.000	0.000
	Provisions	0.000	0.000
Total Current Liabilities		0.449	0.000
Net Current Assets		0.273	0.037
MISCELLANEOUS EXPENSES		0.050	0.063
TOTAL		3.213	0.100

Note: Profit and loss A\c for the year 2009 and 2008 not available.

KEY RATIOS

PARTICULARS	31.03.2009	31.03.2008
Debt Equity Ratio (Total Debt /Networth)	3.07	0.00
Current Ratio (Current Asset/Current Liability)	1.61	0.00

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2008	31.03.2009
	Rs. In Millions	Rs. In Millions
Share Capital	0.100	0.100
Reserves & Surplus	0.000	0.000
Net worth	0.100	0.100
long-term borrowings	0.000	0.000
Short term borrowings	0.000	2.424
Total borrowings	0.000	2.424
Debt/Equity ratio	0.000	24.240

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	No
12]	Profitability for last three years	No
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	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	No
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

UNSECURED LOANS:

Particulars	31.03.2009 Rs. In Millions	31.03.2008 Rs. In Millions
Unsecured Loans	2.424	0.000
Total	2.424	0.000

NO CHARGES EXIST FOR THE 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.59.03
UK Pound	1	Rs.98.91
Euro	1	Rs.80.33

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RAS
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	2
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.