MIRA INFORM REPORT

Report Date :

24.03.2014

IDENTIFICATION DETAILS

Name :	ONE VISH SOLUTIONS PRIVATE LIMITED
Registered Office :	139, Clover Hills, Nibm Road, Kondhwa, Pune - 411048, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	09.10.2012
Com. Reg. No.:	11-145005
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U74900PN2012PTC145005
TAN No.: [Tax Deduction & Collection Account No.]	PNEO02807A
PAN No.: [Permanent Account No.]	AABC07394M
Legal Form :	Private Limited Liability Company
Line of Business :	It’s BPO for Tata wifi and IT products and they do out bond sale.
No. of Employees :	50 (Approximately)

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 a relatively new company having moderate track record. The company has incurred huge accumulated loss in its first year of business operation, which has eroded net worth of the company. Business is active. Payment terms are slow. The company can be considered for business dealing 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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 for the fiscal third quarter ended September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and moderation in gold imports. Manufacturing activity and new orders in India showed their strongest growth in a year in February. The news comes as a relief after data showed Asia’s third largest economy grew by a slower-than-expected 4.7 % annually in the three months through December. The HSBC Manufacturing Purchasing Managers’ Index which gauges the business activity of India’s factories but not its’ utilities, rose to 52.5 in February, its highest in a year from 51.4 in January. Overall new orders for factory goods which rose to a one-year high of 54.9 contributed to the surge. China has emerged as India’s biggest trading partner in the current financial year replacing the United Arab Emirates and pushing it to the third spot. India-China trade has reached $49.5 billion with a 8.7 % share in India’s total trade. The US comes second at $46 billion with 8.1 % share during the first nine months of the current financial year.

The Reserve Bank of India has granted an additional nine months to the public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000 denominations, pushing the deadline to January 1, 2015. A day before dates for the Lok Sabha polls were announced, the government decided to hike interest rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The new rates will be effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s appeal against a ruling over transferring ownership of its local mobile phones plant which is the subject of a tax dispute to Microsoft Corp.

In the last days of the current Government, another scam has surfaced. The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau of Investigation will look into allegations that over $80 million was paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a solution for problems with state-owned Air India’s 787 Dreamliners. The aircraft has experienced a series of malfunctions since its debut in 2011.

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 PARTED BY (GENERAL DETAILS)

Name :	Veronica Torne
Designation :	Admin. Manager
Contact No.:	91-20-65004080
Date :	21.03.2014

LOCATIONS

Registered Office :	139, Clover Hills, Nibm Road, Kondhwa, Pune - 411048, Maharashtra, India
Tel. No. :	Not Available
Mobile No. :	91-9225063075 (Ketki)
Fax No. :	Not Available
E-Mail :	shahjugal84@gmail.com ca.jpassociates@gmail.com reception@onevishtechnologies.com
Website :	www.onevishsolutions.com
Location :	Owned
Corporate Office :	E Space, Building No.2, E2, Ground Floor, Chandan Nagar, Pune – 411014, Maharashtra, India
Tel. No. :	91-20-65004080/ 66814700
Location :	Rented
Branch Office:	Located at · Ahmedabad · Surat
Overseas Offices:	Locate at · London · USA · Hong Kong · Singapore · Kenya

DIRECTORS

As on 20.12.2013

Name :

Mr. Hitesh Prafulchandra Desai

Designation :

Director

Address :

139, Clover Hills, Nibm Road, Kondhwa, Pune - 411048, Maharashtra, India

Date of Birth/Age :

24.03.1964

Date of Appointment :

09.10.2012

DIN No. :

02239264

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	U31200PN2004PTC018946	VISH ELECTRICAL AND LIGHTING PRIVATE LIMITED	Director	24/02/2004	24/02/2004	Active	NO
2	U74900PN2012PTC145005	ONE VISH SOLUTIONS PRIVATE LIMITED	Director	09/10/2012	09/10/2012	Active	NO

Name :

Mr. Mayurkumar Jaysukhlal Gohel

Designation :

Director

Address :

104, Dhruv Diamond Apartment, Katargam, Surat – 395004, Gujarat, India

Date of Birth/Age :

25.08.1980

Date of Appointment :

09.10.2012

DIN No. :

06392775

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	U74900PN2012PTC145005	ONE VISH SOLUTIONS PRIVATE LIMITED	Director	09/10/2012	09/10/2012	Active	NO
2	U72200GJ2014PTC078836	SAFFRON TECHNOSOLUTIONS PRIVATE LIMITED	Director	20/02/2014	20/02/2014	Active	NO

KEY EXECUTIVES

Name :	Ketki
Designation :	Human Resource Department
Name :	Veronica Torne
Designation :	Admin. Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 20.12.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Hitesh Prafulchandra Desai	5000	50.00
Tushar Ramniklal Gangani	2500	25.00
Mayurkumar Jaysukhlal Gohel	2500	25.00
Total	10000	100.00

As on 20.12.2013

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 :

It’s BPO for Tata wifi and IT products and they do out bond sale.

GENERAL INFORMATION

No. of Employees :	50 (Approximately)
Bankers :	· HDFC Bank Limited, Shankar Seth Branch, Pune, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Jugal Shah and Company Chartered Accountants
Address :	Office No 214, Mahalaxmi Market, Shani Par, Pune – 411030, Maharashtra, India
Tel. No. :	91-20-24473926
Mobile No. :	91-9960949333
E-Mail :	shahjugal84@gmail.com
Income-tax PAN of auditor or auditor's firm :	BLLPS5610P
Sisters Concern :	Euphoria Placement Services Address: Ambavadi, Ahmedabad, India Line of Business: Placement Services.

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	(0.534)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	(0.434)
(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	0.550
(b) Trade payables	0.091
(c) Other current liabilities	0.132
(d) Short-term provisions	0.131
Total Current Liabilities (4)	0.904
TOTAL	0.470
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.141
(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	0.150
(e) Other Non-current assets	0.000
Total Non-Current Assets	0.291
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	0.179
(e) Short-term loans and advances	0.000
(f) Other current assets	0.000
Total Current Assets	0.179
TOTAL	0.470

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013
	SALES
		TOTAL	NA
Less	EXPENSES
		TOTAL	NA
	PROFIT/ (LOSS) BEFORE TAX		NA
Less	TAX		NA
	PROFIT/ (LOSS) AFTER TAX		(0.535)
	Earnings / (Loss) Per Share (Rs.)		(53.50)

KEY RATIOS

PARTICULARS	31.03.2013
Debt Equity Ratio (Total Debt/Networth)	(1.27)
Current Ratio (Current Asset/Current Liability)	0.20

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one year	No
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	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

TRADE REFERENCE

· M D India Health Care Services TPA Private Limited

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
Vish Electrical and Electronics	0.150
Vish Investment	0.400
Total	0.550

FINANCIAL RESULTS

The profit and loss account of the company shows a net loss amounting to Rs. 0.535 Million.

GENERAL REVIEW

The company’s performance was not satisfactory during the year. The company could not achieve its turnover as well it could not achieve its target of Net profit. The directors are hopeful that the company shall be able to achieve its target of Net Profit in the year to come. The future of the company seems to be bright.

FIXED ASSETS

· Computer Equipment

· Electrical Installation

· Furniture and Fixtures

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.61.05
UK Pound	1	Rs.100.81
Euro	1	Rs.84.18

INFORMATION DETAILS

Information Gathered by :	HNA
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--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.