MIRA INFORM REPORT

Report Date :

28.05.2014

IDENTIFICATION DETAILS

Name :	TVS AUTOMOBILE SOLUTIONS LIMITED (w.e.f. 07.12.2010)
Formerly Known As :	MY AUTOMOTIVE INTEGRATED SERVICES LIMITED (w.e.f. 25.10.2010) MY AUTOMOTIVE INTEGRATED SERVICES PRIVATE LIMITED
Registered Office :	TVS Building, 7 B West Veli Street, Madurai – 625001, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	24.04.2009
Com. Reg. No.:	18-071439
Capital Investment / Paid-up Capital :	Rs.48.282 Millions
CIN No.: [Company Identification No.]	U34100TN2009PLC071439
TAN No.: [Tax Deduction & Collection Account No.]	MRIM02102C
PAN No.: [Permanent Account No.]	AAGCM0329K
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is engaged in the business of providing multi brand car repair services, 24/7 roadside assistance services and trading of spares.
No. of Employees :	Information denied by management.

RATING & COMMENTS

MIRA’s Rating :

B (31)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1900000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2013. However, there are no external borrowings recorded by the company. Trade relation are reported to be fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealing with some cautions.

NOTES:

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

ECGC Country Risk Classification List – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

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

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

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

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

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

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

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

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

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

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

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DENIED

Management Non-Cooperative (Tel No.: 91-452-2356400)

LOCATIONS

Registered Office :	TVS Building, 7 B West Veli Street, Madurai – 625001, Tamilnadu, India
Tel. No.:	91-452-2356400
Fax No.:	91-452-2341587
E-Mail :	ramakrishnamk@tvs.in raghumath.ravi@tvssons.com
Website :	http://www.mytvs.in
Chennai Office :	New No. 58,Eldams Road ,Teynampet, Chennai - 600018, Tamilnadu, India
Tel. No.:	91-44-66857777

DIRECTORS

As on 30.09.2013

Name :

Meleveetil Damodaran

Designation :

Director

Address :

D-8/3, D Block, Vasant Vihar, New Delhi – 110057, India

Date of Birth/Age :

04.05.1947

Date of Appointment :

29.09.2012

DIN No.:

02106990

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	U67190WB2002PLC095455	Sahaj e-Village Limited	Director	27/01/2009	10/06/2008	21/07/2010	Active	NO
2	L35911DL1984PLC017354	Hero MotoCorp Limited	Director	25/09/2008	16/06/2008	-	Active	NO
3	U74140DL2008PTC180832	EQUINOX ADVISORS PRIVATE LIMITED	Director	14/07/2008	14/07/2008	01/01/2012	Active	NO
4	L85110KA1930PLC000124	ING VYSYA BANK LIMITED	Director	04/09/2009	21/07/2008	-	Active	NO
5	L64200MH1986PLC041370	TECH MAHINDRA LIMITED	Director	23/07/2009	22/07/2008	-	Active	NO
6	U67120MH1998PTC114377	ING INVESTMENT MANAGEMENT (INDIA) PRIVATE LIMITED	Director	29/09/2008	28/08/2008	31/05/2011	Active	NO
7	U80301AP2003NPL042195	GMR VARALAKSHMI FOUNDATION	Director	30/09/2009	03/08/2009	16/06/2011	Active	NO
8	L72200AP1987PLC007564	SATYAM COMPUTER SERVICES LTD	Director	21/12/2010	09/12/2009	01/04/2012	Amalgamated	NO
9	L45201KA1995PLC018475	SOBHA DEVELOPERS LIMITED	Director	11/06/2010	29/01/2010	-	Active	NO
10	U60232DL2006GOI155068	DEDICATED FREIGHT CORRIDOR CORPORATION OF INDIA LIMITED	Director	14/05/2010	14/05/2010	08/04/2011	Active	NO
11	U63032KL1972GOI002414	COCHIN SHIPYARD LIMITED	Nominee director	23/06/2010	23/06/2010	28/01/2011	Active	NO
12	U85191WB2010PTC151530	Glocal Healthcare Systems Private Limited	Director	06/12/2010	06/12/2010	-	Active	NO
13	U85100TN2008PLC070179	AVN AROGYA HEALTH CARE LIMITED	Director	02/03/2011	02/03/2011	23/12/2011	Active	NO
14	L17120MH1990PLC058361	S KUMARS NATIONWIDE LIMITED	Additional director	28/03/2011	28/03/2011	08/10/2012	Active	NO
15	U34102PN1989PLC014807	RSB TRANSMISSIONS (I) LTD	Additional director	19/09/2011	19/09/2011	06/08/2012	Active	NO
16	U67190MH2011PTC218046	L&T INFRA INVESTMENT PARTNERS ADVISORY PRIVATE LIMITED	Director	26/11/2012	11/10/2011	-	Active	NO
17	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	29/09/2012	19/12/2011	-	Active	NO
18	U74920KA2012PTC062391	Excellence Enablers Private Limited	Director	03/02/2012	03/02/2012	-	Active	NO
19	L27020MH1958PLC011238	HINDALCO INDUSTRIES LIMITED	Director	11/09/2012	16/04/2012	14/01/2014	Active	NO
20	L26940MH2000PLC128420	ULTRATECH CEMENT LIMITED	Director	30/08/2012	16/04/2012	-	Active	NO
21	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Director	28/09/2012	23/05/2012	-	Active	NO
22	U67190TN2006PLC059527	L&T INFRASTRUCTURE FINANCE COMPANY LIMITED	Director	05/08/2013	17/07/2012	-	Active	NO
23	L99999MH1946PLC004768	LARSEN AND TOUBRO LIMITED	Director	22/08/2013	22/10/2012	-	Active	NO
24	L29110UP1995PLC041834	TRIVENI TURBINE LIMITED	Director	01/08/2013	10/04/2013	09/09/2013	Active	NO
25	L67120MH1987PLC042363	CRISIL LIMITED	Director	17/04/2014	14/01/2014	-	Active	NO

Name :

Mr. Ramachandhran Dinesh

Designation :

Director

Address :

Old No. 3, New No. 5, Besant Road, Chokkikulam Po, Madurai – 625002, Tamilnadu, India

Date of Birth/Age :

25.02.1965

Date of Appointment :

13.12.2010

DIN No.:

00363300

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	U34101TN1929PLC002973	T.V. SUNDRAM IYENGAR & SONS LIMITED	Managing director	01/04/2013	27/05/1998	-	Active	NO
2	U72300TN1997PLC039110	TVS INTERCONNECT SYSTEMS LIMITED	Director	28/09/1998	28/09/1998	24/09/2013	Active	NO
3	U35202TN1998PLC041466	IRIZAR TVS LIMITED	Director	23/11/1998	23/11/1998	-	Active	NO
4	U63011TN2004PLC054655	TVS LOGISTICS SERVICES LIMITED	Managing director	06/11/2013	16/11/2004	-	Active	NO
5	U72900TN2007PLC063049	India Telecom Infra Limited	Director	09/04/2007	09/04/2007	04/03/2008	Amalgamated	NO
6	U65921TN2007PLC063294	NSM Holdings Limited	Director	27/04/2007	27/04/2007	17/10/2013	Active	NO
7	U45200MH2005PLC154628	TVS Infrastructure Limited	Director	24/09/2007	30/04/2007	-	Active	NO
8	U63010TN2007PLC064282	TVS DYNAMIC GLOBAL FREIGHT SERVICES LIMITED	Director	19/07/2007	19/07/2007	-	Active	NO
9	U60200TN2008PLC068631	TVS COMMUTATION SOLUTIONS LIMITED	Director	21/07/2008	21/07/2008	-	Active	NO
10	U51220MH1944PLC004124	THE ASSOCIATED AUTO PARTS LIMITED	Director	29/09/2008	01/09/2008	-	Active	NO
11	U50102MH2009PTC195226	FIXALL AUTOMOTIVE SERVICES PRIVATE LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
12	U60100TN2010PLC074341	TVS AVIATION LOGISTICS LIMITED	Director	22/01/2010	22/01/2010	04/06/2013	Active	NO
13	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	13/12/2010	12/11/2010	-	Active	NO
14	U60200TN2009PLC071624	TVS RHR FINISHED VEHICLES LOGISTICS SOLUTIONS LIMITED	Director	29/09/2011	29/12/2010	31/03/2013	Active	NO
15	U51109TN2011PTC083208	DINRAM HOLDINGS PRIVATE LIMITED	Director	18/11/2011	18/11/2011	-	Active	NO
16	U74910TN2000PLC046218	APARAJITHA CORPORATE SERVICES LIMITED	Director	28/03/2012	28/03/2012	-	Active	NO
17	U50300GJ2012PLC069099	ESSEX AUTOMOBILE SOLUTIONS LIMITED	Director	14/08/2013	29/03/2012	-	Active	NO
18	U74990TN2010PLC076131	FLEXOL PACKAGING (INDIA) LIMITED	Director	29/09/2012	31/03/2012	-	Active	NO
19	U50300KL2012PLC030459	FOCUZ AUTOMOBILE SERVICES LIMITED	Director	05/08/2013	24/04/2013	-	Active	NO

Name :

Mr. Balasubramania Iyer Ganapathi Sarma

Designation :

Director

Address :

Assarain Complex, Villa No. 17, Building No. 791, Way No. 2307, Quram / Bausher, Muscat

Date of Birth/Age :

24.08.1935

Date of Appointment :

24.04.2009

DIN No.:

01515444

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	U45200MH2005PLC154628	TVS Infrastructure Limited	Director	24/09/2007	30/04/2007	-	Active	NO
2	U65993TN2001PLC047748	NITYA KALYANEE INVESTMENT LIMITED	Director	29/09/2009	29/01/2009	29/12/2011	Active	NO
3	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	24/04/2009	24/04/2009	-	Active	NO

Name :

Mr. Sachin Nithyanand Kamath

Designation :

Director

Address :

No. 100, 5^th Road, Yadhavgiri, Mysore – 570020, Tamilnadu, India

Date of Birth/Age :

27.06.1965

Date of Appointment :

29.09.2011

DIN No.:

01592593

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	U27102OR2003PLC007368	PATNAIK STEELS AND ALLOYS LIMITED	Director	08/09/2007	16/04/2007	01/09/2010	Active	NO
2	U72900DL2008PTC176763	ASPIRING MINDS ASSESSMENT PRIVATE LIMITED	Director	30/09/2009	12/02/2009	-	Active	NO
3	U93000MH2009PTC193209	KITARA CAPITAL PRIVATE LIMITED	Director	10/06/2009	10/06/2009	-	Active	NO
4	U11201MH2000PTC129960	OIL FIELD INSTRUMENTATION (INDIA) Private Limited	Director	30/09/2010	29/06/2010	-	Active	NO
5	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	29/09/2011	12/01/2011	-	Active	NO
6	U74999MH2010PTC210246	MCPHAR INTERNATIONAL PRIVATE LIMITED	Director	30/09/2013	01/08/2013	-	Active	NO

Name :

Mr. Aroon Raman

Designation :

Director

Address :

No. 389 and 390, 3^rd Cross, 16^th Main, 3^rd Block, Koramangala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

21.03.1960

Date of Appointment :

29.09.2011

DIN No.:

00201205

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	U67120KA1990PTC010732	ANAHITA INVESTMENTS PRIVATE LIMITED	Director	13/02/1990	13/02/1990	-	Active	NO
2	U20232KA1978PLC003383	RAMAN BOARDS LTD	Director	13/07/1991	13/07/1991	01/03/2007	Amalgamated	NO
3	U08031KA1993PTC014692	ARYAMUN INVESTMENTS PRIVATE LIMITED	Director	10/01/2003	10/01/2003	-	Strike off	NO
4	U21099KA2007PTC041393	Raman FibreScience Private Limited	Director	05/01/2007	05/01/2007	-	Active	NO
5	U65993KA1990PTC010733	ATUR INVESTMENTS PRIVATE LIMITED	Director	25/02/2007	25/02/2007	-	Strike off	NO
6	U74140KA2007PTC042217	EDUTECH NTTF INDIA PRIVATE LIMITED	Director	15/07/2008	15/07/2008	-	Active	NO
7	L65191TN1954PLC002429	SUNDARAM FINANCE LIMITED	Director	24/07/2009	27/02/2009	-	Active	NO
8	U93000KA1964ULL001532	KARNATAKA STATE INDUSTRIAL AND INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Director	20/04/2010	20/04/2010	02/04/2011	Active	NO
9	L35921TN1960PLC004175	WHEELS INDIA LIMITED	Director	14/08/2012	15/04/2011	-	Active	NO
10	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	29/09/2011	13/06/2011	-	Active	NO
11	L85110KA1995PLC019126	BRIGADE ENTERPRISES LIMITED	Additional director	29/10/2013	29/10/2013	-	Active	NO
12	L29224TN1954PLC000318	CARBORUNDUM UNIVERSAL LIMITED	Additional director	30/10/2013	30/10/2013	-	Active	NO

Name :

Mr. Muthuswami Lakshminarayan

Designation :

Director

Address :

1 Sregency, Terraces, 17^th Road, Khar West, Mumbai – 400052, Maharashtra, India

Date of Birth/Age :

07.09.1946

Date of Appointment :

29.09.2012

DIN No.:

00064750

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	L85110KA1951PLC000761	Bosch Limited	Whole-time director	01/07/2008	13/09/2005	01/01/2009	Active	NO
2	U51109KA1992PTC013736	MICO TRADING PRIVATE LIMITED	Director	16/02/2006	16/02/2006	01/01/2009	Active	NO
3	L33129TZ1972PLC000641	PRICOL LIMITED	Director	03/08/2007	29/05/2007	29/04/2011	Active	NO
4	U29221KA2008PTC045987	Bosch Automotive Electronics India Private Limited	Director	01/05/2008	01/05/2008	01/01/2009	Active	NO
5	L65993TN2004PLC052856	RANE (MADRAS) LIMITED	Director	21/07/2009	21/07/2008	-	Active	NO
6	U72200KA2009PTC048794	HARMAN INTERNATIONAL (INDIA) PRIVATE LIMITED	Managing director	08/04/2013	15/01/2009	-	Active	NO
7	L29224TN1954PLC000318	CARBORUNDUM UNIVERSAL LIMITED	Director	31/07/2009	20/01/2009	-	Active	NO
8	L29112PN1978PLC088972	KIRLOSKAR INDUSTRIES LIMITED	Director	18/07/2009	24/04/2009	30/03/2010	Active	NO
9	U74200KA2009PTC051291	P3 VOITH AEROSPACE PRIVATE LIMITED	Director	26/10/2009	26/10/2009	15/09/2010	Active	NO
10	U74300KA2009PTC050726	BANGALORE INTERNATIONAL EXHIBITION SERVICES PRIVATE LIMITED	Director	09/09/2010	12/01/2010	-	Active	NO
11	L29120PN2009PLC133351	KIRLOSKAR OIL ENGINES LIMITED	Director	09/07/2010	30/03/2010	-	Active	NO
12	L34103TN2004PLC054667	WABCO INDIA LIMITED	Director	27/07/2011	25/10/2010	-	Active	NO
13	U45201KA2007PTC044522	Janaadhar (India) Private Limited	Director	30/09/2011	30/11/2010	-	Active	NO
14	U73100KA2004PLC035260	MANIPAL ACUNOVA LIMITED	Director appointed in casual vacancy	30/03/2012	30/03/2012	-	Active	NO
15	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	29/09/2012	11/07/2012	-	Active	NO
16	U52590DL2013PTC250043	Wholsum Foods Private Limited	Director	30/03/2013	30/03/2013	-	Active	NO

Name :

Mr. Narayanan Krishna Moorthy

Designation :

Director

Address :

AF- 4, vanaj, vasudara residence complex, 78 TPK. Road, Madurai – 625003, Tanilnadu, India

Date of Birth/Age :

29.09.1951

Date of Appointment :

30.09.2013

DIN No.:

05160091

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	U65993TN2001PLC047748	NITYA KALYANEE INVESTMENT LIMITED	Director	29/09/2012	29/12/2011	-	Active	NO
2	U50200WB2011PLC169713	RAJGARHIA AUTOMOBILE SOLUTION LIMITED	Director	28/09/2012	12/03/2012	-	Active	NO
3	U50404TN2013PTC089671	TVS All Car Services Private Limited	Additional director	20/03/2013	20/03/2013	-	Active	NO
4	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	30/09/2013	27/03/2013	-	Active	NO
5	U50300KL2012PLC030459	FOCUZ AUTOMOBILE SERVICES LIMITED	Director	05/08/2013	24/04/2013	-	Active	NO
6	U93000TN2008PTC068222	FIT Consulting & Services Private Limited	Additional director	09/09/2013	09/09/2013	-	Active	NO
7	U50404DL2013PLC251960	NCR AUTOCARS LIMITED	Director	18/09/2013	18/09/2013	-	Active	NO

Name :	Mr. Srinivasan Raghava Gopalan
Designation :	Director
Address :	22 Dandapani Street, T. Nagar, Chennai 60001, Tamilnadu, India
Date of Birth/Age :	09.04.1969
Date of Appointment :	03.02.2014
DIN No.:	06683396

KEY EXECUTIVES

Name :	Mr. Majety Koteswara Rama Krishna
Designation :	Secretary
Address :	Flat No. 8, 1^st Floor, Classic Apartment, 26-13, NGO Colony, 4^th Cross, Gill Nagar, Chennai – 600094, Tamilnadu, India
Date of Birth/Age :	11.08.1972
Date of Appointment :	13.06.2011
PAN No.:	AIOPK7733J
Name :	Mr. Sanjay Kumar Niga,
Designation :	President and Chief Executive Officer
Name :	K. Venugopalan
Designation :	Company Secretary in Practice
Address :	I Floor, 2213, Venkatakrishna Road, Mandaveli, Chennai – 600028, Tamilnadu, India
Tel No.:	91-44 -42815423
Email ID :	venugopalank@gmail.com

MAJOR SHAREHOLDERS

As on 30.09.2013

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	21.83
Bodies corporate	60.42
Directors or relatives of Directors	10.33
Other top fifty shareholders	7.42
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the business of providing multi brand car repair services, 24/7 roadside assistance services and trading of spares.

GENERAL INFORMATION

No. of Employees :	Information denied by management.
Bankers :	· DCB Bank Limited, 601 and 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel,, Mumbai - 400013, Maharashtra, India

Banking Relations :	--
Financial Institutions :	· Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India
Auditors :
Name :	S.V. Ghatalia and Associates Chartered Accountants
Address :	Tidel Park, 6 - 7 Floor A Block, Module 601, 701-702, No. 4 Rajiv Gandhi Salai, Taramani, Chennai – 600113, Tamilnadu, India
PAN No.:	AACFS6921Q
Holding Company :	T.V. Sundram Iyengar and Sons Limited U34101TN1929PLC002973
Subsidiaries :	· Rajgarhia Automobile Solution Limited [U50200WB2011PLC169713] · Essex Automobile Solutions Limited [U50300GJ2012PLC069099] · Navratna Insurance Broking Limited [U67200TZ2007PLC014118] · GS Automotive Service Equipments (Chennai) Limited [U50200TN2012PLC089156] · Focuz Automobile Services Limited [U50300KL2012PLC030459] · TVS All Car Services Private Limited [U50404TN2013PTC089671]

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2800000	Equity Shares	Rs.10/- each	Rs.28.000 Millions
2200000	Preference Shares	Rs.10/- each	Rs.22.000 Millions
	Total		Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2720000	Equity Shares	Rs.10/- each	Rs.27.200 Millions
2108236	Preference Shares	Rs.10/- each	Rs.21.082 Millions
	Total		Rs.48.282 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	48.282	48.282	36.212
(b) Reserves & Surplus	404.631	832.002	297.330
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	787.500
Total Shareholders’ Funds (1) + (2)	452.913	880.284	1,121.042
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	79.027	56.936	23.343
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	79.027	56.936	23.343
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	283.416	133.755	71.922
(c) Other current liabilities	143.658	131.551	73.667
(d) Short-term provisions	4.072	3.229	1.597
Total Current Liabilities (4)	431.146	268.535	147.186
TOTAL	963.086	1,205.755	1,291.571
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	170.385	80.675	46.539
(ii) Intangible Assets	230.989	269.725	341.496
(iii) Capital work-in-progress	38.990	53.072	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	152.281	2.550	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	99.535	102.062	27.500
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	692.180	508.084	415.535
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	27.116	29.208	29.270
(c) Trade receivables	135.685	123.252	68.082
(d) Cash and cash equivalents	48.631	508.385	769.590
(e) Short-term loans and advances	59.042	34.929	9.094
(f) Other current assets	0.432	1.897	0.000
Total Current Assets	270.906	697.671	876.036
TOTAL	963.086	1,205.755	1,291.571

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	592.286	457.202	60.117
		Other Income	4.256	2.448	13.286
		TOTAL (A)	596.542	459.650	73.403
Less	EXPENSES
		Purchase of Stock-in-trade	242.660	178.298	52.559
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	(2.527)	0.062	(29.270)
		Sub-contracting expenses	147.823	95.287	0.000
		Employee Benefits Expenses	241.048	185.571	21.381
		Other Expenses	350.250	207.601	26.119
		TOTAL (B)	979.254	666.819	70.789
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(382.712)	(207.169)	2.614
Less	FINANCIAL EXPENSES (D)		(20.851)	(51.198)	0.003
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(361.861)	(155.971)	2.611
Less	DEPRECIATION/ AMORTISATION (F)		65.511	84.786	20.589
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		(427.372)	(240.757)	(17.978)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		(427.372)	(240.757)	(17.978)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(258.735)	(17.978)	0.000
	Balance Carried to the B/S		(686.107)	(258.735)	(17.978)
	Earnings Per Share (Rs.)		(157.12)	(93.16)	(28.78)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(71.64)	(52.38)	(24.49)
Net Profit Margin (PBT/Sales)	(%)	(72.16)	(52.66)	(29.91)
Return on Total Assets (PBT/Total Assets}	(%)	(55.37)	(20.93)	(1.39)
Return on Investment (ROI) (PBT/Networth)		(0.94)	(0.27)	(0.02)
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		0.63	2.60	5.95

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	36.212	48.282	48.282
Reserves & Surplus	297.330	832.002	404.631
Share Application money pending allotment	787.500	0.000	0.000
Net worth	1121.042	880.284	452.913
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	60.117	457.202	592.286
		660.520	29.546

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	60.117	457.202	592.286
Profit	(17.978)	(240.757)	(427.372)
	(29.91%)	(52.66%)	(72.16%)

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	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

INDEX OF CHARGE:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10477036	26/12/2013	100,000,000.00	DCB Bank Limited	601 and 602, Peninsula Business Park, 6th floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, INDIA	B96128616
2	10477034	26/12/2013	175,000,000.00	DCB Bank Limited	601 and 602, Peninsula Business Park, 6th floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, INDIA	B96127923

PERFORMANCE REVIEW AND PROSPECTS

MULTI-BRAND CAR REPAIR SERVICE

The Company continued to expand its network, directly and also through JVs, and added 17 new outlets during the year. During FY 2012 - 2013 the Company achieved revenue of Rs. 596.540 million and incurred a loss of Rs. 427.320 million. While prominently being a multi-brand car service network, the Company's network also consists of OEM authorised service centres in few places. The Company presently has the largest network of service centres in India and is aiming to become a leader in this business. The performance of this business during the year is as per the plan and is progressing well. To expand its operations, the Company has entered into joint ventures in few states and also tied up with insurance companies, corporates and other service providers.

24/7 EMERGENCY ROADSIDE ASSISTANCE

During the year, the Company emerged as a leading player in India in the roadside assistance segment and the turnover of this business witnessed a notable increase. However, the general slowdown in the market and the declining sales of new passenger cars may have an adverse impact on this business for the current financial year (FY 2013-14). Despite the current challenging environment, the Company is in the process of adding new customers for offering roadside assistance and is also diversifying into other related businesses. The Company is confident that during the current financial year also this business will continue to do well.

OUTLOOK

During the current financial year, the Company is aiming to continue its growth phase by taking all necessary steps which include optimizing the existing operations structure, tying up with OEMs and corporates for incremental business, leveraging on the synergies between existing businesses, increasing the presence of service JVs and creation of more brand visibility.

CORPORATE INFORMATION

the Company was incorporated on April 24, 2009. The Company is engaged in the business of providing multi brand car repair services, 2417 roadside assistance services and trading of spares. The Company is a subsidiary of TV Sundram lycngar and Sons Limited ('TVS and Sons").

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.06
UK Pound	1	Rs.99.61
Euro	1	Rs.80.60

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	RAS
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	3
--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		31

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.