1. Summary Information

		Country	India
Company Name	TIMES VPL LIMITED AMALGAMATED WITH METROPOLITAN MEDIA COMPANY LIMITED	Principal Name 1	Mr. Ravindra Dhariwal
Status	Satisfactory	Principal Name 2	Mr. Sanjeev Vohra
		Registration #	08-062825 (New) 55-153618 (Old)
Street Address	No.17, 19^th Floor, Duparc trinity, M. G. Road, Bangalore – 560001, Karnataka, India
Established Date	12.09.2006	SIC Code		--
Telephone#	91-11-42512153	Business Style 1		Printing
Fax #	91-11-41508666	Business Style 2		Publication
Homepage	--	Product Name 1		Newspapers
# of employees	Not Divulged	Product Name 2		Periodicals
Paid-up capital	Rs.255,900,000/-	Product Name 3		--
Shareholders	Bodies corporate – 100%	Banking		Not Available
Public Limited Corp.	NO	Business Period		8 Years
IPO	NO	International Ins.		--
Public Enterprise	NO	Rating		Ba (49)
Related Company
Relation	Country	Company Name	CEO
Holding Company	India	Bennett Coleman and Company Limited
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,864,016,000	Current Liabilities	479,252,000
Inventories	67,457,000	Long-term Liabilities	0,000
Fixed Assets	241,114,000	Other Liabilities	35,182,000
Deferred Assets	0,000	Total Liabilities	514,434,000
Invest& other Assets	500,710,000	Retained Earnings	1,902,963,000
		Net Worth	2,158,863,000
Total Assets	2,673,297,000	Total Liab. & Equity	2,673,297,000
Total Assets (Previous Year)	24,631,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	Not Available	Net Profit	596,519,000
Sales(Previous yr)	Not Available	Net Profit/(Loss) (Prev.yr)	(47,307,000)

MIRA INFORM REPORT

Report Date :

10.05.2014

IDENTIFICATION DETAILS

Name :	METROPOLITAN MEDIA COMPANY LIMITED (w.e.f. 25.10.2011) TIMES VPL LIMITED AMALGAMATED WITH METROPOLITAN MEDIA COMPANY LIMITED
Formerly Known As :	METROPOLITAN MEDIA COMPANY PRIVATE LIMITED
Registered Office :	No.17, 19^th Floor, Duparc trinity, M. G. Road, Bangalore – 560001, Karnataka
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	12.09.2006
Com. Reg. No.:	08-062825
Capital Investment / Paid-up Capital :	Rs.255.900 Millions
CIN No.: [Company Identification No.]	U22121KA2006PLC062825 (New) U22121DL2006PLC153618 (Old)
TAN No.: [Tax Deduction & Collection Account No.]	DELM13915G
PAN No.: [Permanent Account No.]	AAECM7899Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The company is engaged in the business of Printing and Publication of Newspapers and Periodicals.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 8600000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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

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.2,453.2 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. Mahesh
Designation :	Accounts Manager
Contact No.:	91-80-40877511
Date :	11.04.2014

LOCATIONS

Registered Office :	No.17, 19^th Floor, Duparc trinity, M. G. Road, Bangalore – 560001, Karnataka
Tel. No.:	91-11-42512153
Fax No.:	91-11-41508666
E-Mail :	bhavyaa.kedia@timesgroup.com sidhant.khosla@timesgroup.com srivathsan.n@timesgroup.com
Corporate Office:	1^st Floor, Express Building, 9-10, Bahadurshah Zafar Marg, New Delhi- 110002, India.
Tel. No.:	91-11-42512257
Fax No.:	91-11-41508666

DIRECTORS

AS ON 23.09.2013

Name :

Mr. Ravindra Dhariwal

Designation :

Director

Address :

Aashray Farm, Opposite NV Farm, Sub PO SP School, Bhatti Mines, Asola Village, New Delhi – 110030, India

Date of Birth/Age :

11.09.1952

Date of Appointment :

05.03.2013

DIN No.:

00003922

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	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Whole-time director	01/04/2011	01/01/2002	-	Active	NO
2	U80302DL1984NPL019475	TIMES CENTRE FOR MEDIA AND MANAGEMENT STUDIES	Director	08/11/2002	08/11/2002	12/04/2013	Active	NO
3	L92140MH1999PLC120516	ENTERTAINMENT NETWORK (INDIA) LIMITED	Director	31/12/2002	31/12/2002	-	Active	NO
4	U22121DL2004PLC126751	TIMES JOURNAL INDIA LIMITED	Director	02/06/2004	02/06/2004	03/06/2010	Active	NO
5	U65990MH1983PLC029209	BANHEM ESTATES & IT PARKS LIMITED	Director	07/06/2006	07/06/2006	-	Active	NO
6	U22120MH1985PLC036799	VARDHAMAN PUBLISHERS LTD	Director	07/06/2006	07/06/2006	-	Active	NO
7	U02212KA2003PLC032182	TIMES VPL LIMITED	Director	03/10/2007	18/08/2006	-	Amalgamated	NO
8	U32109MH1986PLC168454	TIMES GLOBAL BROADCASTING COMPANY LIMITED	Director	13/09/2006	13/09/2006	-	Active	NO
9	U74899DL1982GAP144061	Times for India Org	Director	12/09/2007	16/10/2006	03/06/2010	Active	NO
10	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	27/10/2006	27/10/2006	-	Active	NO
11	U72900MH2002PLC134966	TIMES INFOTAINMENT MEDIA LIMITED	Director	04/12/2006	04/12/2006	-	Active	NO
12	U24999MH1948NPL006309	AUDIT BUREAU OF CIRCULATIONS	Director	19/01/2007	19/01/2007	26/09/2011	Active	NO
13	U74140DL2007PLC162846	BENNETT ADVISORY SERVICES LIMITED	Director	03/05/2007	03/05/2007	03/06/2010	Active	NO
14	U80301DL2007PLC165200	Times Centre for learning Limited	Director	26/06/2007	26/06/2007	03/06/2010	Active	NO
15	L22121GJ1943PLC000183	THE SANDESH LIMITED	Director	20/09/2007	30/07/2007	14/03/2013	Active	NO
16	U74999DL1999PLC135531	TIMES INTERNET LIMITED	Director	07/09/2009	29/12/2008	-	Active	NO
17	U01229DL2007PTC194698	AQUAGRI PROCESSING PRIVATE LIMITED	Director	29/09/2010	16/11/2009	07/10/2013	Active	NO
18	U74992MH2006PLC163048	ZOOM ENTERTAINMENT NETWORK LIMITED	Director	30/09/2010	25/11/2009	12/04/2013	Active	NO
19	U99999MH2005PLC157078	TIMES INNOVATIVE MEDIA LIMITED	Director	07/09/2010	18/01/2010	-	Active	NO
20	U80904DL2010NPL200262	TIMES SCHOOL OF MARKETING & MANAGEMENT	Director	16/03/2010	16/03/2010	12/04/2013	Active	NO
21	U80900DL2010NPL200366	TIMES SCHOOL OF JOURNALISM	Director	18/03/2010	18/03/2010	12/04/2013	Active	NO
22	U92412MH2010PLC202021	Zoom Movies (TV) Limited	Director	13/04/2010	13/04/2010	05/03/2014	Active	NO
23	U74999DL2010PTC203419	TIM Delhi Airport Advertising Private Limited	Director	01/06/2010	01/06/2010	05/08/2010	Active	NO
24	U92412MH2010PLC208138	Media Network & Distribution (India) Limited	Director	24/09/2010	24/09/2010	-	Active	NO
25	U74900DL2009PTC192566	CAPITOL ART HOUSE PRIVATE LIMITED	Director	27/09/2012	13/06/2012	-	Active	NO
26	U93020DL2013PTC248087	Inspired Emporio Salon Private Limited	Director	08/02/2013	08/02/2013	-	Active	NO
27	U74999MH2008PTC179149	RML Information Services Private Limited	Director	22/02/2013	22/02/2013	14/10/2013	Active	NO
28	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Director	23/09/2013	05/08/2013	-	Active	NO

Name :

Mr. Sanjeev Vohra

Designation :

Director

Address :

S, 181, Greater Kailash Part 1, New Delhi – 110048, India

Date of Birth/Age :

01.11.1958

Date of Appointment :

16.10.2006

DIN No.:

00811621

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	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Director	20/07/2007	16/10/2006	Active	NO
2	U24999MH1948NPL006309	AUDIT BUREAU OF CIRCULATIONS	Director	14/09/2012	14/09/2012	Active	NO

Name :

Mr. Mohit Jain

Designation :

Director

Address :

L-3/22, Ground Floor, DLF Phase-11, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

22.09.1966

Date of Appointment :

05.08.2013

DIN No.:

01315482

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	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	29/09/2005	29/09/2005	-	Active	NO
2	U02212KA2003PLC032182	TIMES VPL LIMITED	Director	03/10/2007	10/09/2007	-	Amalgamated	NO
3	L65929DL1947PLC001240	P N B FINANCE AND INDUSTRIES LIMITED	Director	26/06/2008	09/10/2007	-	Active	NO
4	U45101DL1972PLC006172	PUNJAB PROPERTIES LIMITED	Director	03/08/2010	08/04/2008	-	Active	NO
5	U52110DL1972PLC006380	PUNJAB MERCANTILE AND TRADERS LIMITED	Director	03/08/2010	08/04/2008	-	Active	NO
6	U93098DL2006PLC148520	JACARANDA CORPORATE SERVICES LIMITED.	Director	03/08/2010	08/04/2008	-	Active	NO
7	U80301DL2007PLC165200	Times Centre for learning Limited	Director	30/06/2010	03/06/2010	23/11/2012	Active	NO
8	U65993MH1983PLC030615	DHARMAYUG INVESTMENTS LTD	Director	22/09/2012	06/03/2012	-	Active	NO
9	U74140MH2008NPL187724	Centre for Excellence in Management Training and Development	Director	30/05/2012	06/03/2012	-	Active	NO
10	U70100MH2006PLC160898	ANAGHA ESTATES LIMITED	Director	27/09/2012	06/03/2012	-	Active	NO
11	U70100MH2006PLC160900	SURYASHANKAR PROPERTIES LIMITED	Director	27/09/2012	06/03/2012	-	Active	NO
12	U70100MH2006PLC160897	AADIDEV PROPERTIES LIMITED	Director	27/09/2012	06/03/2012	-	Active	NO
13	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Director	23/09/2013	05/08/2013	-	Active	NO
14	U72300DL2007PLC165449	TIMES DIGITAL LIMITED	Additional director	23/09/2013	23/09/2013	-	Active	NO

Name :

Mr. Sunil Rajshekhar

Designation :

Director

Address :

Apt No.301, Prestige Lansdowne Plot No.15/1, Ali Asker Road, Bangalore – 560052, Karnataka, India

Date of Birth/Age :

17.07.1955

Date of Appointment :

05.08.2013

DIN No.:

01720175

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	U51109DL2008PLC184883	a2zShopping Limited	Director	14/11/2008	14/11/2008	-	Amalgamated	NO
2	U72200DL2008PLC184870	TIMES WEBSOL LIMITED	Director	14/11/2008	14/11/2008	-	Active	NO
3	U72900DL2008PLC185013	TIMESMOBILE LIMITED	Director	18/11/2008	18/11/2008	-	Active	NO
4	U22110DL2006PTC154933	Webnotions Books India Private Limited	Nominee director	01/01/2009	01/01/2009	11/10/2010	Active	NO
5	U02212KA2003PLC032182	TIMES VPL LIMITED	Whole-time director	06/10/2009	21/09/2009	-	Amalgamated	NO
6	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Whole-time director	23/09/2013	05/08/2013	-	Active	NO

Name :

Mr. Shrijeet Ramakanta Mishra

Designation :

Director

Address :

Gitanjali Gardens, Flat No.30168/E, Napean Sea Road, Rungta Lane, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

22.04.1965

Date of Appointment :

05.08.2013

DIN No.:

01894081

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	U67120MH1994PTC082045	DIGITAL SECURITIES PRIVATE LIMITED	Director	24/06/2008	07/12/2007	27/07/2011	Amalgamated	NO
2	U65990MH1958PLC011060	HINDLEVER TRUST LIMITED	Director	22/06/2009	01/08/2008	27/07/2011	Active	NO
3	U24246TN1981PLC008785	PONDS EXPORTS LIMITED	Director	22/07/2010	22/03/2010	27/07/2011	Active	NO
4	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Whole-time director	11/08/2011	11/08/2011	-	Active	NO
5	U02212KA2003PLC032182	TIMES VPL LIMITED	Director	26/09/2012	28/05/2012	-	Amalgamated	NO
6	U74999MH1924NPL001128	BOMBAY CHAMBER OF COMMERCE AND INDUSTRY	Director	23/06/2012	23/06/2012	-	Active	NO
7	U80301DL2007PLC165200	Times Centre for learning Limited	Director	25/09/2013	12/10/2012	-	Active	NO
8	U22120MH1985PLC036799	VARDHAMAN PUBLISHERS LTD	Director	16/09/2013	23/10/2012	-	Active	NO
9	U74300MH2008PLC184669	BRAND EQUITY TREATIES LIMITED	Director	25/09/2013	25/10/2012	-	Active	NO
10	L65920MH1989PLC054398	TIMES GUARANTY LIMITED	Director	30/09/2013	29/10/2012	-	Active	NO
11	U74990MH2009PTC190636	MIND GAMES SHOWS PRIVATE LIMITED	Additional director	06/11/2012	06/11/2012	23/09/2013	Active	NO
12	U74140MH2008NPL187724	Centre for Excellence in Management Training and Development	Additional director	06/11/2012	06/11/2012	-	Active	NO
13	U74900MH2012PLC237666	TIMES CONFERENCES LIMITED	Director	07/11/2012	07/11/2012	-	Active	NO
14	U74992MH2006PLC163048	ZOOM ENTERTAINMENT NETWORK LIMITED	Additional director	10/12/2012	10/12/2012	-	Active	NO
15	U32109MH1986PLC168454	TIMES GLOBAL BROADCASTING COMPANY LIMITED	Additional director	10/12/2012	10/12/2012	-	Active	NO
16	U22120MH2003PTC142239	WORLDWIDE MEDIA PRIVATE LIMITED	Additional director	01/04/2013	01/04/2013	10/09/2013	Active	NO
17	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Director	23/09/2013	05/08/2013	-	Active	NO

Name :

Mr. Sanjay Singh

Designation :

Director

Address :

C-142, 1^st Floor, Manu Apartments, Mayur Vihar, Phase 1, New Delhi – 110091, India

Date of Birth/Age :

05.10.1964

Date of Appointment :

05.08.2013

DIN No.:

02349382

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	U02212KA2003PLC032182	TIMES VPL LIMITED	Director	08/10/2008	08/10/2008	Amalgamated	NO
2	U70100DL2010PLC209471	NANDEESHWAR PROPERTIES LIMITED	Director	05/05/2011	11/01/2011	Active	NO
3	U70101DL2010PLC209333	Ativeer Properties Limited	Director	30/04/2011	11/01/2011	Active	NO
4	U70100MH2006PLC160896	ARYABHATA PROPERTIES LIMITED	Director	27/09/2012	06/03/2012	Active	NO
5	U45203MH2006PLC160915	VAIDEHI ESTATES LIMITED	Director	27/09/2012	06/03/2012	Active	NO
6	U70100MH2006PLC160895	SUSHENA PROPERTIES LIMITED	Director	27/09/2012	06/03/2012	Active	NO
7	U70100MH2006PLC160899	SHUBHAN PROPERTIES LIMITED	Director	27/09/2012	06/03/2012	Active	NO
8	U92120MH2007PLC167123	MIRCHI MOVIES (INDIA) LIMITED	Director	28/09/2012	05/07/2012	Active	NO
9	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Director	23/09/2013	05/08/2013	Active	NO

Name :

Mr. Shankar Narayan Ranganathan

Designation :

Director

Address :

103, Solitaire, Hiranandani Gardens, Mumbai – 400076, Maharashtra, India

Date of Birth/Age :

19.07.1959

Date of Appointment :

05.08.2013

DIN No.:

02804788

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	U02212KA2003PLC032182	TIMES VPL LIMITED	Director appointed in casual vacancy	15/09/2009	15/09/2009	-	Amalgamated	NO
2	U65990MH2008PLC178673	ARTHA FINANCIAL SERVICES LIMITED	Director	16/09/2013	14/10/2009	-	Active	NO
3	U72200DL2008PLC184870	TIMES WEBSOL LIMITED	Director	24/05/2010	10/11/2009	24/04/2012	Active	NO
4	U72900DL2008PLC185013	TIMESMOBILE LIMITED	Director	24/05/2010	10/11/2009	24/04/2012	Active	NO
5	U51109DL2008PLC184883	a2zShopping Limited	Director	24/05/2010	10/11/2009	24/04/2012	Amalgamated	NO
6	U74999DL1999PLC135531	TIMES INTERNET LIMITED	Director	23/07/2010	16/11/2009	-	Active	NO
7	U70100MH2006PLC160895	SUSHENA PROPERTIES LIMITED	Director	21/05/2010	14/12/2009	18/02/2014	Active	NO
8	U45203MH2006PLC160915	VAIDEHI ESTATES LIMITED	Director	21/05/2010	14/12/2009	18/02/2014	Active	NO
9	U70100MH2006PLC160900	SURYASHANKAR PROPERTIES LIMITED	Director	21/05/2010	14/12/2009	18/02/2014	Active	NO
10	U70100MH2006PLC160899	SHUBHAN PROPERTIES LIMITED	Director	21/05/2010	14/12/2009	18/02/2014	Active	NO
11	U70100MH2006PLC160896	ARYABHATA PROPERTIES LIMITED	Director	21/05/2010	14/12/2009	18/11/2010	Active	NO
12	U70100MH2006PLC160898	ANAGHA ESTATES LIMITED	Director	21/05/2010	14/12/2009	18/02/2014	Active	NO
13	U70100MH2006PLC160897	AADIDEV PROPERTIES LIMITED	Director	21/05/2010	14/12/2009	18/02/2014	Active	NO
14	U92100DL2005PLC173555	TIMES BUSINESS SOLUTIONS LIMITED	Director	30/06/2011	23/07/2010	24/04/2012	Active	NO
15	U70101DL2010PLC209333	Ativeer Properties Limited	Director	30/04/2011	18/10/2010	31/03/2012	Active	NO
16	U70100DL2010PLC209471	NANDEESHWAR PROPERTIES LIMITED	Director	05/05/2011	22/10/2010	24/04/2012	Active	NO
17	U70102MH2010PLC211087	Bennett Property Holdings Company Limited	Director	27/09/2011	18/12/2010	-	Active	NO
18	U74992MH2006PLC163048	ZOOM ENTERTAINMENT NETWORK LIMITED	Director	09/07/2012	21/05/2012	-	Active	NO
19	U65993MH1983PLC030615	DHARMAYUG INVESTMENTS LTD	Additional director	20/06/2013	20/06/2013	-	Active	NO
20	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Director	23/09/2013	05/08/2013	-	Active	NO

Name :

Mr. Arunabh Das Sharma

Designation :

Director

Address :

E-129, Greater Kailash-1, New Delhi – 110048, India

Date of Birth/Age :

17.03.1968

Date of Appointment :

05.08.2013

DIN No.:

03464498

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	U02212KA2003PLC032182	TIMES VPL LIMITED	Director	26/09/2012	28/05/2012	Amalgamated	NO
2	U74900MH2012PLC237666	TIMES CONFERENCES LIMITED	Director	07/11/2012	07/11/2012	Active	NO
3	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Whole-time director	27/09/2013	07/11/2012	Active	NO
4	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Director	23/09/2013	05/08/2013	Active	NO

KEY EXECUTIVES

Name :	Mr. KN Srivathsan
Designation :	Secretary
Address :	Flat#201, Silversands, Co-operative Housing Society, Plot 15, Sector 40, Nehrul (West), Navi Mumbai – 400706, Maharashtra, India
Date of Birth/Age :	02.07.1965
Date of Appointment :	13.08.2013
PAN No.:	AAVPS83358

MAJOR SHAREHOLDERS

AS ON 23.09.2013

Names of Shareholders	No. of Shares
Bennett Coleman and Company Limited, India	5589800
Mr. Gopal Mohan Jointly with Bennett Coleman and Company Limited	20
Mr. Ashok Talwar Jointly with Bennett Coleman and Company Limited	20
Mr. Amit Jain	20
Mr. Sidhant Khosla Jointly with Bennett Coleman and Company Limited	20
Mr. Ashok Sen	20
Ms. Sapna Singh	10
Mr. Sanjeev Purushotham	20
Ms. Kaladevi Borad	20
Mr. Kantilal Borad	10
Mr. Ramesh G. S.	10
Mr. Praveen S. N.	10
Mr. Vishwadutta Ramanna	20
Total	5590000

Equity Share Break up (Percentage of Total Equity)

AS ON 23.09.2013

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in the business of Printing and Publication of Newspapers and Periodicals.

Products :

PRODUCT DESCRIPTION	ITEM CODE NO
Printing/ Publication of Newspaper	490210.01

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	Not Divulged

Banking Relations :	--
Auditors :
Name :	Lodha and Company Chartered accountants
Address :	Flat D, Dollys Castel, Ambal Foundation 1, First cross Street, Seethammal Extn, Teynampet, Chennai – 600018, India
PAN No.:	AABLF1894Q
Holding company :	Bennett Coleman and Company Limited
Fellow Subsidiary company :	· A2Z Shopping Limited · Amrita Estates Private Limited · Ananta Properties Private Limited · Alternate Brand Solutions (India) Limited · Artha Broking Services Limited · Artha Commodities Limited · Artha Credit Private Limited · Artha Distribution Services Limited · Artha Financial Services Limited · Artha Forex Services Limited · Artha Insurance Broking Services Limited · Artha Network Services Limited · Artha Reality Private Limited · BCCL International Events Private Limited · Bennett Broadcasting and Distribution Services Limited · Brand Equity Treaties Limited · Centre for Excellence in Management Training and Development · Dharmayug Investments Limited · Entertainment Network (India) Limited · Media Network and Distribution Services Limited (MNDIL) · Mind Games Shows Private Limited · Mirchi Movies (India) Limited · One Golden Square Creative Limited · Satyam Properties and Finance Limited · Speaking Tree Properties Limited · Times Business Solutions Limited · Times Center for Learning Limited (Formerly Times Yoga Limited) · Times Conferences Limited · Times Digital Limited · Times Global Broadcasting Company Limited (TGBCL) · Times Guaranty Limited · Times Infotainment Media Limited · Times Innovative Media Limited · Times Internet (UK) Limited · UK - Times Internet Inc. · USA - Times Internet Limited · Times Jobs Limited · Times Journal India Private Limited · Times Websol Limited · Times Mobile Limited · TIM Delhi Airport Advertising Private Limited · TIML Global Limited · TIML Golden Square Limited · TIML Radio Holdings Limited · TIML Digital Radio Limited · TIML Radio Limited · Vardhaman Publishers Limited · Worldwide Media Private Limited · Zoom Entertainment Network Limited
Associates and Enterprises owned or having significant influence by key management personnel :	· 21st Century Constructions Limited · Aadidev Properties Limited · Anagha Estates Limited · Aryabhata Properties Limited · Ativeer Properties Limited · Banhem Estates and IT Parks Limited · Bennett Property Holdings Company Limited (BPHCL) · Nandeeshwar Properties Limited · Rajdhani Printers Limited · Shubhan Properties Limited · Suryashankar Properties Limited · Sushena Properties Limited · Surge Enterprises Limited · Vaidehi Estates Limited · Times of Money Financial Services Limited · Times of Money Inc. (USA) · Times of Money Limited · Times of Money UK - PLC (UK) · TOM Payment Solutions Limited

CAPITAL STRUCTURE

AS ON 23.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
27000000	Equity Shares	Rs.10/- each	Rs.270.000 Millions
3000000	Preference Shares	Rs.100/- each	Rs.300.000 Millions
	Total		Rs.570.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
			***
5590000	Equity Shares	Rs.10/- each	Rs.255.900 Millions

***Includes share capital suspense of Rs.200.000 Millions that corresponds to the shares to be allotted to the shareholders of Transferor Company pursuant to an approved scheme of Amalgamation between Times VPL Limited and Metropolitan Media Company Limited

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	255.900	55.900
(b) Reserves & Surplus	1902.963	(31.301)
(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)	2158.863	24.599
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	20.894	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	14.288	0.000
Total Non-current Liabilities (3)	35.182	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	367.908	0.026
(c) Other current liabilities	111.344	0.006
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	479.252	0.032
TOTAL	2673.297	24.631
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	237.169	7.222
(ii) Intangible Assets	3.945	0.229
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	500.710	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	30.965	0.250
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	772.789	7.701
(2) Current assets
(a) Current investments	830.713	11.016
(b) Inventories	67.457	0.000
(c) Trade receivables	655.560	1.328
(d) Cash and cash equivalents	130.544	0.513
(e) Short-term loans and advances	216.234	4.073
(f) Other current assets	0.000	0.000
Total Current Assets	1900.508	16.930
TOTAL	2673.297	24.631

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		55.900
2] Share Application Money		0.000
3] Reserves & Surplus		494.100
4] (Accumulated Losses)		(478.094)
NETWORTH		71.906
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		71.906
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.377
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		78.469
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.016
	Sundry Debtors	16.872
	Cash & Bank Balances	14.590
	Other Current Assets	2.197
	Loans & Advances	0.740
Total Current Assets		34.415
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	51.355
	Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		51.355
Net Current Assets		(16.940)
MISCELLANEOUS EXPENSES		0.000
TOTAL		71.906

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	NA	NA	0.000
		Other Income	NA	NA	0.005
		TOTAL	NA	NA	0.005
Less	EXPENSES
		TOTAL	NA	NA	3.413
	PROFIT/ (LOSS) BEFORE TAX		608.402	(31.162)	(3.408)
Less	TAX		11.883	78.469	0.000
	PROFIT AFTER TAX		596.519	(47.307)	(3.408)
	Earnings/ (Loss) Per Share (Rs.)		23.31	NA	(0.61)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	NA	0.00
Net Profit Margin (PBT/Sales)	(%)	NA	NA	0.00
Return on Total Assets (PBT/Total Assets}	(%)	28.00	(126.52)	(7.61)
Return on Investment (ROI) (PBT/Networth)		0.28	(1.27)	(0.04)
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.71
Current Ratio (Current Asset/Current Liability)		3.97	529.06	0.67

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	55.900	255.900
Reserves & Surplus	(31.301)	1902.963
Net worth	24.599	2158.863
long-term borrowings	0.000	0.000
Short term borrowings	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

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 one year	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	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: Registered office address of the company has been shifted from 10, Dartaganj, New Delhi – 110002, India to the present address w.e.f. 23.02.2012

SHIFTING OF REGISTERED OFFICE

To achieve the right scale of operation and enable subject to foray into more markets and other corporate actions like amalgamations, mergers etc. the Registered Office of the Company was shifted to Bangalore in the State of Karnataka.

THE SCHEME OF AMALGAMATION

During the year, subject had filed a petition of Scheme of Arrangement under Section 391-394 of the Companies Act 1956, in the Honble High Court of Karnataka seeking the merger of the undertaking Times VPL Limited, which was carrying the business of printing and publishing a flagship brand, Vijaya Karnataka and other brands effective from 1st April 2012. The Honble High Court of Karnataka had sanctioned the Scheme of Arrangement and the necessary formalities are being completed. Accordingly, the results of subject are reported including the said undertaking.

MARKETING AND BRAND

Vijay Karnataka (VK)

While Vijay Karnataka maintained its leadership position both on IRS (Readership of 34.12 Lacs) and ABC (JD 2012 6.12 Lac copies) there has been increased competitive activity over the past year calling for a thrust on brand building and marketing spends. During the subject extended the Namma - the hyper local 4 pager to 34 towns across Karnataka. This 4 pager goes as part of the main edition and has been very well received. It has helped significantly in withstanding pressure from competition.

The 8 pager NIE student edition of VK has continued to be a big draw in many of the Kannada schools across the state. The edition has been strengthened significantly and other Kannada papers which followed suit have been unsuccessful in matching the NIE editions content mix and presentation style.

As part of VKs brand building exercise and in line with its positioning as a youthful newspaper, a new program JOY - Job opportunities for Youth was introduced with objective of involving its readers from more privileged backgrounds to help under privileged youth in securing jobs. This program conducted in association with Rotary Cantonment Bangalore was extremely successful.

Vijaya Next (VN)

Vijaya Next had a steady run with circulation holding around the 30,000 mark. Career VK, an 8 pager was introduced as part of VN with an objective of reaching out to young readers of VK who sought information on career opportunities. Career VK has helped give a boost to Vijay Next.

Bodhi Vruksha (BV)

The 8 pager spiritual weekly patterned on The Speaking Tree has gained wide acceptance across Karnataka and is now perceived as a value addition of VK. Ad revenue continued to be a challenge and BVs profitability arose from its circulation revenues.

NO CHARGES EXIST FOR COMPANY.

FIXED ASSETS:

· Furniture and Fixtures

· Computers

· Office Equipments

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 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.60.05
UK Pound	1	Rs.101.65
Euro	1	Rs.83.07

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		49

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.