MIRA INFORM REPORT

Report Date :

23.05.2014

IDENTIFICATION DETAILS

Name :	ATRIA CONVERGENCE TECHNOLOGIES PRIVATE LIMITED
Registered Office :	No. 1, Palace Road, Bangalore-560001, Karnataka
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	16.06.2000
Com. Reg. No.:	08-027290
Capital Investment / Paid-up Capital :	Rs.348.293 Millions
CIN No.: [Company Identification No.]	U72900KA2000PTC027290
TAN No.: [Tax Deduction & Collection Account No.]	BLRA02014F
PAN No.: [Permanent Account No.]	AACCA8907B
Legal Form :	Private Limited Liability Company
Line of Business :	The Company is engaged in the business of Distribution of Cable and Broadband Services.
No. of Employees :	Information denied by the management.

RATING & COMMENTS

MIRA’s Rating :

Ca (24)

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 well-established company having satisfactory track record. The company has seen a deterioration in its financial profile as reflected by consecutive losses for previous years resulting in erosion of its networth during FY 13. Management has reported heavy external borrowings in the books along with unfavourable gap between trade receivables and payables during the year under review. The ratings also take into consideration robust operational performance and a strong management backed by an established private equity fund – India Value Fund (IVF) which holds 69.66% equity stake in the subject. Moreover, the risks related to high competition and capital intensive nature of the business along with exposure to technological risk are the key rating sensitive. Trade relations may improve. Business is active. Payment terms are reported as slow. In view of leading position in broadband internet business in key markets, the subject can be considered for business dealings on a safe and secured trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	BBB [Fund Based Bank Facilities]
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	03.04.2014

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 31-03-2012.

INFORMATION DECLINED

Management non co-operative [91-80-42840000]

LOCATIONS

Registered Office :	No. 1, Palace Road, Bangalore-560001, Karnataka, India
Tel. No.:	91-80-23530751
Fax No.:	Not Available
E-Mail :	vandana.singh@acttv.in
Head Office :	Indian Express Building, No. 1, 2^nd Floor, Queen’s Road, Bangalore-560001, Karnataka, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Raju Sunder Chinnaswamy

Designation :

Managing Director

Address :

No. 294, Upper Palace, Orchards, Bangalore-560080, Karnataka, India

Date of Birth/Age :

24.08.1957

Date of Appointment :

16.06.2000

Din No.:

00592212

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	U74995KA1984PTC005975	VISWESWARAIAH TECHNICAL SERVICES PRIVATE LIMITED	Director	16-12-1986	16-12-1986	-	Active	NO
2	U45203KA1991PTC012602	AKKALARAJU CONTRACTORS AND ENGINEERS PRIVATE LIMITED	Whole-time director	09-12-1991	09-12-1991	-	Active	NO
3	U55101KA1994PTC015562	CHALUKYA HOTELS PRIVATE LIMITED	Director	29-04-1994	29-04-1994	-	Active	NO
4	U55100KA1995PTC018477	CHALUKYA HOLIDAY RESORTS PRIVATE LIMITED	Director	31-08-1995	31-08-1995	-	Active	NO
5	U40105KA1996PTC020692	ATRIA POWER CORPORATION Private Limited	Director	24-06-1996	24-06-1996	-	Active	NO
6	U07010KA1997PTC021976	ATRIA HOLDINGS PRIVATE LIMITED	Director	18-03-1997	18-03-1997	-	Active	NO
7	U85110KA1984PLC006560	A.S.K.BROTHERS .LIMITED	Whole-time director	03-01-1998	03-01-1998	-	Active	NO
8	U85110KA1999PLC024675	ATRIA HYDEL POWER LIMITED	Director	25-01-1999	25-01-1999	-	Active	NO
9	U40101KA1999PLC026081	ATRIA POWER CORPORATION (SHIMSHA) LIMITED	Director	14-12-1999	14-12-1999	-	Active	NO
10	U72900KA2000PTC027290	ATRIA CONVERGENCE TECHNOLOGIES PRIVATE LIMITED	Managing director	21-06-2008	16-06-2000	-	Active	NO
11	U32302KA2000PTC027519	ATRIA BROADBAND SERVICES PRIVATE LIMITED	Director	26-07-2000	26-07-2000	-	Active	NO
12	U40101KA2000PLC028288	ATRIA BRINDAVAN POWER LIMITED	Director	14-12-2000	14-12-2000	-	Active	NO
13	U65993WB1992PTC054292	ESKAY MERCANTILE COMMERCIAL & HOLDING PRIVATE LIMITED	Director	01-03-2005	01-03-2005	-	Active	NO
14	U64203KA2006PTC040993	KABLE FIRST INDIA PRIVATE LIMITED	Director	19-08-2009	31-05-2008	-	Active	NO
15	U72200KA2008PTC045641	A.C.N. CABLE PRIVATE LIMITED	Additional director	16-03-2009	01-06-2008	04-05-2009	Active	NO
16	U64204MP2008PTC020522	SR CABLE TV PRIVATE LIMITED	Additional director	14-06-2008	04-06-2008	04-05-2009	Active	NO
17	U32109KA2008PTC047065	ACT DIGITAL HOME ENTERTAINMENT PRIVATE LIMITED	Director	26-09-2008	26-09-2008	01-04-2009	Active	NO
18	U32200KA2008PTC045694	KABLE FIRST DAVANAGERE PRIVATE LIMITED	Director	02-01-2009	02-01-2009	03-01-2009	Active	NO
19	U40101KA2002PTC031228	BALAJI HYDEL POWER PRIVATE LIMITED	Director	11-08-2009	06-03-2009	-	Active	NO
20	U74900KA2011PTC056741	OBRM SERVICE MANAGEMENT PRIVATE LIMITED	Director	21-01-2011	21-01-2011	-	Active	NO
21	U74900KA2011PTC056740	CTV CONTENT MANAGEMENT PRIVATE LIMITED	Director	21-01-2011	21-01-2011	-	Active	NO
22	U74999KA2011PTC056739	CLOVER PROGRAM MANAGEMENT PRIVATE LIMITED	Director	21-01-2011	21-01-2011	-	Active	NO
23	U40108KA2012PTC063626	WONDER TECH WIND POWER PRIVATE LIMITED	Director	18-04-2012	18-04-2012	-	Active	NO
24	U40300KA2012PTC065186	ATRIA SOLAR POWER PRIVATE LIMITED	Director	03-08-2012	03-08-2012	-	Active	NO
25	U70102KA2006PTC041154	GARUDA MAVERICK INFRASTRUCTURE PROJECTS PRIVATE LIMITED	Director	30-09-2013	30-01-2013	-	Active	NO
26	U40106KA2013PTC070346	SOLARATRIA CLEAN TECH PRIVATE LIMITED	Director	26-07-2013	26-07-2013	-	Active	NO
27	U40102KA2013PTC071099	WPA CLEAN ENERGY PRIVATE LIMITED	Director	20-09-2013	20-09-2013	-	Active	NO
28	U40103AP2013PTC088451	BLYTH WIND PARK PRIVATE LIMITED	Additional director	23-11-2013	23-11-2013	-	Active	NO
29	U40101DL2009PLC190339	BETUL WIND FARMS LIMITED	Additional director	10-01-2014	10-01-2014	-	Active	NO
30	U40108KA2014PTC074202	KUKRU WIND POWER PRIVATE LIMITED	Director	17-03-2014	17-03-2014	-	Active	NO
31	U40108KA2014PTC074201	ATRIA WIND POWER PRIVATE LIMITED	Director	17-03-2014	17-03-2014	-	Active	NO

Name :

Mr. Nagaraju Kupparaju

Designation :

Director

Address :

No. 160, RV Layout, Kumarapark (West), Bangalore-560020, Karnataka, India

Date of Birth/Age :

23.09.1959

Date of Appointment :

16.06.2000

Din No.:

00592259

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	U26941KA1963PTC001516	MYSORE SPUN CONCRETE PIPE COMPANY PRIVATE LIMITED	Director	29-12-1982	29-12-1982	-	Active	NO
2	U40105KA1996PTC020692	ATRIA POWER CORPORATION Private Limited	Director	24-06-1996	24-06-1996	-	Active	NO
3	U07010KA1997PTC021976	ATRIA HOLDINGS PRIVATE LIMITED	Director	18-03-1997	18-03-1997	-	Active	NO
4	U85110KA1984PLC006560	A.S.K.BROTHERS .LIMITED	Whole-time director	03-01-1998	03-01-1998	-	Active	NO
5	U85110KA1999PLC024675	ATRIA HYDEL POWER LIMITED	Director	25-01-1999	25-01-1999	-	Active	NO
6	U40101KA1999PLC026081	ATRIA POWER CORPORATION (SHIMSHA) LIMITED	Director	14-12-1999	14-12-1999	-	Active	NO
7	U72900KA2000PTC027290	ATRIA CONVERGENCE TECHNOLOGIES PRIVATE LIMITED	Director	16-06-2000	16-06-2000	-	Active	NO
8	U32302KA2000PTC027519	ATRIA BROADBAND SERVICES PRIVATE LIMITED	Director	26-07-2000	26-07-2000	-	Active	NO
9	U40101KA2000PLC028288	ATRIA BRINDAVAN POWER LIMITED	Director	14-12-2000	14-12-2000	-	Active	NO
10	U45202KA1995PTC017400	TRINETRA CONSTRUCTIONS PRIVATE LIMITED	Director	30-12-2000	30-12-2000	-	Dormant	NO
11	U85110KA1992PTC013671	A.J.HOTELS(INDIA) PRIVATE LIMITED	Director	05-02-2001	05-02-2001	-	Active	NO
12	U55201KA1984PTC006582	WOODSIDE HOTELS PRIVATE LIMITED	Director	09-02-2001	09-02-2001	-	Active	NO
13	U40101KA2002PTC031228	BALAJI HYDEL POWER PRIVATE LIMITED	Director	18-11-2002	18-11-2002	-	Active	NO
14	U93090TN1951NPL002401	SOUTH INDIA HOTELS AND RESTAURANTS ASSOCIATION	Director	13-03-2004	13-03-2004	-	Active	NO
15	U64203KA2006PTC040993	KABLE FIRST INDIA PRIVATE LIMITED	Director	19-08-2009	31-05-2008	-	Active	NO
16	U74900KA2011PTC056741	OBRM SERVICE MANAGEMENT PRIVATE LIMITED	Director	21-01-2011	21-01-2011	-	Active	NO
17	U74900KA2011PTC056740	CTV CONTENT MANAGEMENT PRIVATE LIMITED	Director	21-01-2011	21-01-2011	-	Active	NO
18	U74999KA2011PTC056739	CLOVER PROGRAM MANAGEMENT PRIVATE LIMITED	Director	21-01-2011	21-01-2011	-	Active	NO
19	U40108KA2012PTC063626	WONDER TECH WIND POWER PRIVATE LIMITED	Director	18-04-2012	18-04-2012	-	Active	NO
20	U40300KA2012PTC065186	ATRIA SOLAR POWER PRIVATE LIMITED	Director	03-08-2012	03-08-2012	-	Active	NO
21	U70102KA2006PTC041154	GARUDA MAVERICK INFRASTRUCTURE PROJECTS PRIVATE LIMITED	Director	30-09-2013	30-01-2013	-	Active	NO
22	U40106KA2013PTC070346	SOLARATRIA CLEAN TECH PRIVATE LIMITED	Director	26-07-2013	26-07-2013	-	Active	NO
23	U40102KA2013PTC071099	WPA CLEAN ENERGY PRIVATE LIMITED	Director	20-09-2013	20-09-2013	-	Active	NO
24	U55100DL1955NPL002587	THE FEDERATION OF HOTEL AND RESTAURANT ASSOCIATIONS OF INDIA	Director	30-09-2013	30-09-2013	-	Active	NO
25	U40103AP2013PTC088451	BLYTH WIND PARK PRIVATE LIMITED	Additional director	14-12-2013	14-12-2013	-	Active	NO
26	U40101DL2009PLC190339	BETUL WIND FARMS LIMITED	Additional director	10-01-2014	10-01-2014	-	Active	NO
27	U40108KA2014PTC074202	KUKRU WIND POWER PRIVATE LIMITED	Director	17-03-2014	17-03-2014	-	Active	NO
28	U40108KA2014PTC074201	ATRIA WIND POWER PRIVATE LIMITED	Director	17-03-2014	17-03-2014	-	Active	NO

Name :

Mr. Vishal Gangadhar Nevatta

Designation :

Director

Address :

202, Adibaba, 16^th Road, Santacruz (West), Mumbai-400054, Maharashtra, India

Date of Birth/Age :

05.08.1969

Date of Appointment :

21.06.2008

Din No.:

01307857

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	U64200MH1999PTC137729	MUSIC BROADCAST PRIVATE LIMITED	Director	30-09-2005	17-01-2005	-	Active	NO
2	U65993MH2005PTC155967	IVF HOLDINGS PRIVATE LIMITED	Director	04-10-2005	04-10-2005	02-12-2013	Active	NO
3	U92100MH1999PLC119506	FAME MOTION PICTURES LIMITED	Director	28-12-2005	28-12-2005	28-10-2010	Amalgamated	NO
4	L92490MH1999PLC122381	Fame India Limited	Director	28-12-2005	28-12-2005	12-08-2010	Amalgamated	NO
5	U74140MH2006PTC164125	IVF Advisors Private Limited	Director	28-08-2006	28-08-2006	-	Active	NO
6	U74999MH1993PTC172842	RDC CONCRETE(INDIA)PRIVATE LIMITED	Director	28-09-2007	20-03-2007	-	Active	NO
7	U40300MH2007PTC173456	AKSHAYINI OORJA PRIVATE LIMITED	Director	24-08-2007	24-08-2007	24-12-2012	Active	NO
8	U52100MH2007PTC173441	VKL SEASONING PRIVATE LIMITED	Director	24-08-2007	24-08-2007	07-03-2013	Active	NO
9	U51900MH2007PTC173566	METAFFINITY TRADING PRIVATE LIMITED	Director	28-08-2007	28-08-2007	-	Active	NO
10	U72900KA2000PTC027290	ATRIA CONVERGENCE TECHNOLOGIES PRIVATE LIMITED	Director	21-06-2008	21-06-2008	-	Active	NO
11	U63040MH2006PTC165956	V-LINK TRAVEL SOLUTIONS PRIVATE LIMITED	Director	30-09-2008	30-07-2008	-	Active	NO
12	U63040MH2006PTC165959	MERU CAB COMPANY PRIVATE LIMITED	Director	30-09-2008	30-07-2008	-	Active	NO
13	U63040MH2006PTC165955	V-LINK FLEET SOLUTIONS PRIVATE LIMITED	Director	30-09-2008	30-07-2008	-	Active	NO
14	U60210DL2006PLC182784	INNOVATIVE B2B LOGISTICS SOLUTIONS LTD	Director	30-03-2009	30-03-2009	-	Active	NO
15	U65910AP1996PLC025470	FUTURE FINANCIAL SERVICESS LIMITED	Director	02-09-2011	15-09-2010	15-11-2011	Active	NO
16	U85110KA2010PTC052540	MANIPAL HEALTH ENTERPRISES PRIVATE LIMITED	Nominee director	09-11-2012	09-11-2012	-	Active	NO

Name :

Mr. Vikram Nirula

Designation :

Director

Address :

704, Gypsy Rose, Shastri Nagar, Ajmera Compled, Andheri (West), Mumbai-400053, Maharashtra, India

Date of Birth/Age :

28.08.1972

Date of Appointment :

21.06.2008

Din No.:

01655115

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	U64200MH1999PTC137729	MUSIC BROADCAST PRIVATE LIMITED	Director	30-09-2005	02-03-2005	-	Active	NO
2	U63040MH2006PTC165956	V-LINK TRAVEL SOLUTIONS PRIVATE LIMITED	Director	30-09-2008	29-11-2007	-	Active	NO
3	U63040MH2006PTC165959	MERU CAB COMPANY PRIVATE LIMITED	Director	30-09-2008	29-11-2007	-	Active	NO
4	U63040MH2006PTC165955	V-LINK FLEET SOLUTIONS PRIVATE LIMITED	Director	30-09-2008	29-11-2007	-	Active	NO
5	U27100MH2007PLC173636	MAHINDRA HINODAY INDUSTRIES LIMITED	Director	25-07-2008	22-01-2008	04-10-2013	Active	NO
6	U72900KA2000PTC027290	ATRIA CONVERGENCE TECHNOLOGIES PRIVATE LIMITED	Director	21-06-2008	21-06-2008	-	Active	NO
7	U29268MH2009PTC190522	GALA PRECISION ENGINEERING PRIVATE LIMITED	Director	23-02-2009	23-02-2009	16-09-2009	Active	NO
8	U51909DL1984PTC017765	UEM INDIA PRIVATE LIMITED	Director	30-09-2010	30-07-2010	-	Active	NO
9	U52100MH2007PTC173441	VKL SEASONING PRIVATE LIMITED	Nominee director	30-09-2013	28-01-2013	-	Active	NO
10	U29294MH1993PTC072222	HICARE SERVICES PRIVATE LIMITED	Nominee director	29-01-2014	29-01-2014	-	Active	NO
11	U63030MH2005PLC152747	NATIONAL BULK HANDLING CORPORATION LIMITED	Additional director	26-04-2014	26-04-2014	-	Active	NO

Name :

Mr. Pramod Kabra

Designation :

Director

Address :

Building 5, Anmol Housing Society, Andheri Kurla Road, Mumbai-400069, Maharashtra, India

Date of Birth/Age :

20.10.1959

Date of Appointment :

21.06.2008

Din No.:

02252403

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	U72200KA2008PTC045641	A.C.N. CABLE PRIVATE LIMITED	Director	01-06-2008	01-06-2008	02-06-2008	Active	NO
2	U72900KA2000PTC027290	ATRIA CONVERGENCE TECHNOLOGIES PRIVATE LIMITED	Director	21-06-2008	21-06-2008	-	Active	NO
3	U32109KA2008PTC047065	ACT DIGITAL HOME ENTERTAINMENT PRIVATE LIMITED	Director	26-09-2008	26-09-2008	01-04-2009	Active	NO
4	U60210DL2006PLC182784	INNOVATIVE B2B LOGISTICS SOLUTIONS LTD	Director	30-03-2009	30-03-2009	-	Active	NO
5	U45201DL2007PTC202302	NOBLE TRADECON PRIVATE LIMITED	Director	30-09-2009	02-09-2009	-	Active	NO
6	U74999DL2010PLC208219	B2B FORWARDING AGENT LIMITED	Director	14-09-2010	14-09-2010	-	Active	NO
7	U50500MH2010PTC198987	V-LINK AUTOMOTIVE SERVICES PRIVATE LIMITED	Director	30-09-2011	01-04-2011	01-04-2012	Active	NO
8	U63040MH2006PTC165956	V-LINK TRAVEL SOLUTIONS PRIVATE LIMITED	Director	30-09-2011	01-04-2011	-	Active	NO
9	U63040MH2006PTC165955	V-LINK FLEET SOLUTIONS PRIVATE LIMITED	Director	30-09-2011	01-04-2011	-	Active	NO
10	U63040MH2006PTC165959	MERU CAB COMPANY PRIVATE LIMITED.	Director	30-09-2011	01-04-2011	-	Active	NO
11	U65910AP1996PLC025470	FUTURE FINANCIAL SERVICESS LIMITED	Director	26-09-2012	16-11-2011	-	Active	NO
12	U67120GJ1995PTC025373	DISHA MICROFIN PRIVATE LIMITED	Director	25-09-2013	19-09-2013	-	Active	NO
13	U63030MH2005PLC152747	NATIONAL BULK HANDLING CORPORATION LIMITED	Additional director	26-04-2014	26-04-2014	-	Active	NO
14	AAA-1685	INDIA VALUE FUND MANAGERS LLP	Designated Partner	28-06-2010	28-06-2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares	% of Holding
Raju Sunder Chinnaswamy	4010500	11.51
Nagaraju Kupparaju	2500	0.01
Raju Sunder Chinnaswamy and Nagaraju Kupparaju	6371446	18.29
Raju Thejavathi S	102900	0.30
IVF Trustee Company Private Limited, India	24263120	69.66
Raju Chandrashekhar A.C., India	78800	0.23
TOTAL	34829266	100.00

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	69.66
Directors or relatives of directors	30.34
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the business of Distribution of Cable and Broadband Services.

GENERAL INFORMATION

Customers :

· Meru

· Logistics

· Mahindra

· ACT

· Care

· Trinethra

· HDFC Bank

· Fame

· Gala

· Epicenter

No. of Employees :

Information denied by the management.

Bankers :

· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, INDIA

· ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

· Andhra Bank, N.R. Road Branch, Bangalore-560002, Karnataka, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Term loans from banks	30.000	12.375
TOTAL	30.000	12.375

Banking Relations :	--
Financial Institution :	IL and FS Trust Company Limited, IL and FS Financial Centre, Plot No. C22, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India
Auditors :
Name :	BSR and Associates Chartered Accountants
Address :	Maruthi Info-Tech Centre,11-12/1, Inner Ring Road, Koramangala, Bangalore - 560 071, Karnataka, India
PAN No:	AAIFB7355D
Holding Company :	IVF Trustee Company Private Limited [U74140KA2006PTC040274]
Subsidiary :	· Beam Telecom Private Limited [U72900AP2004PTC043732] · Atria Broadband Services Private Limited [U32302KA2000PTC027519] · SR Cable TV Private Limited [U64204MP2008PTC020522] · Chitradurga Entertainment Private Limited [U92100KA2010PTC053791] · Kable First India Private Limited [U64203KA2006PTC040993] · ACT Digital Home Entertainment Private Limited [U32109KA2008PTC047065] · A.C.N. Cable Private Limited [U72200KA2008PTC045641] · Sri Digital Home Entertainment Private Limited · Raja Rajeshwari Entertainment Private Limited · HCV Digital Entertainment Private Limited · Sri Venkateshwara Digital Home Entertainment Private Limited · Mandapeta Digital Entertainment Private Limited · IB Communications Network Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
60000000	Equity Shares	Rs.10/- each	Rs.600.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
34829266	Equity Shares	Rs.10/- each	Rs.348.293 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	348.293	348.293	348.293
(b) Reserves & Surplus	(648.913)	(13.621)	364.398
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	(300.620)	334.672	712.691
(3) Non-Current Liabilities
(a) long-term borrowings	618.935	12.375	33.750
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	27.838	20.635	0.000
(d) long-term provisions	11.188	7.908	5.795
Total Non-current Liabilities (3)	657.961	40.918	39.545
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	29.170	14.379	10.775
(c) Other current liabilities	2806.343	1989.375	1124.086
(d) Short-term provisions	1.348	2.835	1.912
Total Current Liabilities (4)	2836.861	2006.589	1136.773
TOTAL	3194.202	2382.179	1889.009
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	659.745	427.488	352.665
(ii) Intangible Assets	113.265	134.238	137.809
(iii) Capital work-in-progress	273.073	68.011	38.412
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	925.111	670.823	737.789
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	100.304	94.339	111.983
(e) Other Non-current assets	21.000	21.000	45.950
Total Non-Current Assets	2092.498	1415.899	1424.608
(2) Current assets
(a) Current investments	9.164	24.939	11.823
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	43.737	22.402	12.876
(d) Cash and cash equivalents	309.624	30.669	19.124
(e) Short-term loans and advances	732.028	885.195	418.551
(f) Other current assets	7.151	3.075	2.027
Total Current Assets	1101.704	966.280	464.401
TOTAL	3194.202	2382.179	1889.009

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	432.679	190.143	138.011
Less	EXPENSES
		TOTAL	1067.972	568.161	451.639
	PROFIT / (LOSS) BEFORE TAX		(635.293)	(378.018)	(313.628)
Less	TAX		0.000	0.000	0.000
	PROFIT / (LOSS) AFTER TAX		(635.293)	(378.018)	(313.628)
	Earnings / (Loss) Per Share (Rs.)		(18.24)	(10.85)	--

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(146.83)	(198.81)	(227.25)
Return on Total Assets (PBT/Total Assets}	(%)	(31.83)	(23.00)	(28.18)
Return on Investment (ROI) (PBT/Networth)		2.11	(1.13)	(0.44)
Debt Equity Ratio (Total Debt/Networth)		(2.05)	0.04	0.05
Current Ratio (Current Asset/Current Liability)		0.39	0.48	0.41

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	348.293	348.293	348.293
Reserves & Surplus	364.398	(13.621)	-648.913
Net worth	712.691	334.672	-300.620
long-term borrowings	33.750	12.375	618.935
Short term borrowings	0.000	0.000	0.000
Total borrowings	33.750	12.375	618.935
Debt/Equity ratio	0.047	0.037	-2.059

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)
Total Income	138.011	190.143	432.679
		37.774	127.555

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	138.011	190.143	432.679
Profit	(313.628)	(378.018)	(635.293)
	(227.25%)	(198.81%)	(146.83%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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

INDEX OF CHARGES:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10487296	27/12/2013	1,400,000,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA  , KURLA COMPLEX BANDRA EAST, MUMBAI - 400051, MAHARASHTRA , INDIA	B96847504
2	10474088	27/12/2013	350,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	B94901337
3	10468568	11/11/2013	150,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	B92882893
4	10368480	18/07/2012	120,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA	B44879781
5	10269090	13/11/2010	159,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA	B01325778

Unsecured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Term loans from others	500.000	0.000
Long term maturities of finance lease obligations	88.935	0.000
TOTAL	588.935	0.000

NEWS:

AVENDUS CAPITAL ADVISES ATRIA CONVERGENCE TECHNOLOGIES ON RAISING STRUCTURED DEBT FROM OLYMPUS CAPITAL ASIA CREDIT AND KILIMANJARO CREDIT FUND

MUMBAI, FEBRUARY 18, 2014

Atria Convergence Technologies Private Limited (ACT), a leading Broadband and Cable TV access provider, has received structured debt financing from Olympus Capital Asia Credit (OCA Credit) and Kilimanjaro Netherlands BV, a subsidiary of Kilimanjaro Credit Fund, LP (Kilimanjaro). ACT, along with its subsidiary companies, is among the Top-5 ISPs in India (excluding mobile internet access providers). Despite operating only in the states of Andhra Pradesh, Karnataka and Tamil Nadu, ACT is one of the fastest growing ISPs in the country. ACT is majority held by India Value Fund Advisors (IVFA) and is headquartered in Bengaluru. The funding would enable ACT to consolidate its business and to continue on its strong growth trajectory. This transaction also marks the first investment by OCA Credit and Kilimanjaro in India.

Vikram Nirula, Investment Partner at IVFA said, “We are delighted to have OCA Credit and Kilimanjaro as investors in ACT. Over the past few years, ACT, through a combination of leading edge technology and customer service has emerged as one of the most preferred ISPs in its areas of operation. This funding would help ACT in continuing on its path of becoming the most admired broadband and cable TV provider in the country.”

Nitish Agarwal, Chief Investment Officer at OCA Credit, commented, “ACT has executed its plan very well over the past few years to become a leading market player in its core areas. We are very pleased to support ACT with its growth strategy to further develop the internet broadband infrastructure in the country.”

Commenting on this transaction, Navneet Singh, Executive Director and Head - Infrastructure Group, Avendus Capital said, “Broadband penetration level in India is still very low, when compared globally, and the industry would require significant capital infusion in the last-mile broadband network to be able to provide Indian consumers a high quality broadband service. ACT is among the leading players in this industry and the proceeds of this transaction will enable it to consolidate its shareholding and scale up the business. Participation of high quality capital partners in this transaction also showcases the quality of ACT’s business, its management and existing shareholders.”

Avendus Capital was the sole financial advisor to ACT for this transaction.

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.58.57
UK Pound	1	Rs.98.87
Euro	1	Rs.80.05

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	SUB
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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		24

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.