MIRA INFORM REPORT

Report Date :

29.10.2014

IDENTIFICATION DETAILS

Name :	BELLPEPPER ANIMATION PRIVATE LIMITED
Registered Office :	B 202, Kesav Kunj – ll, Plot No. 3, Sector – 15, Sanpada, Navi Mumbai – 400705, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.12.2006
Com. Reg. No.:	11-166609
Capital Investment / Paid-up Capital :	Rs. 1.053 Millions
CIN No.: [Company Identification No.]	U74210MH2006PTC166609
Legal Form :	Private Limited Liability Company
Line of Business :	To carry on the business of CGI animation and network production with an advanced software development unit.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track. Management of the company has failed to file its financial after 2011. As per the available financial of 2011, the company has incurred a loss from its operations. However, Business is active. Payment terms are unknown. The company 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

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 31-03-2014.

INFORMATION DENIED

Management Non co-operative (91-22-27810512)

LOCATIONS

Registered Office :	B 202, Kesav Kunj – ll, Plot No. 3, Sector – 15, Sanpada, Navi Mumbai – 400705, Maharashtra, India
Tel. No.:	91-22-27810512
Fax No.:	Not Available
E-Mail :	info@bellpepperanimation.com bellpepper.shashi@gmail.com
Branches :	401/402, Safal Pride, Near Govandi Station, Sion Trombay Road, Chembur, Mumbai – 400088, Maharashtra, India
Tel. No.:	91-22-25513911 / 25513912

DIRECTORS

AS ON 30.09.2010

Name :

Mr. Shashi Kaant Bhatnagar

Designation :

Director

Address :

B 202, Kesav Kunj – ll, Plot No. 3, Sector – 15, Sanpada, Navi Mumbai – 400705, Maharashtra, India

Date of Birth/Age :

03.11.1970

Date of Appointment :

29.12.2006

DIN No. :

00787085

Name :

Kushal Jayendra shah

Designation :

Director

Address :

203, Madhav Kunj, South Pond Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

01.05.1979

Date of Appointment :

27.12.2007

DIN No. :

01162600

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	U52100MH1980PTC023274	BYTESCALE TECHNOLOGIES PRIVATE LIMITED	Whole-time director	15/10/1997	15/10/1997	-	Active	NO
2	U74210MH2006PTC166609	BELLPEPPER ANIMATION PRIVATE LIMITED	Director	27/12/2007	27/12/2007	15/11/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Trust Acharya Purshottam	27900
Desai Niranjan Upen	26000
Ambe Madhav Nachiket	23000
Karandikar Meghashyam Vivek	23000
Shah Jayendra Kaushal	5260
Pulkit Bafna HUF	100
Total	105260

As on 30.09.2010

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

To carry on the business of CGI animation and network production with an advanced software development unit.

GENERAL INFORMATION

No. of Employees :	Information declined by the management.
Bankers :	Bank of Maharashtra, Corporate Finance Branch, Yashomangal, 1183/A, F.C. Road, Pune – 411005, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Pulkit Bafna Chartered Accountants
Address :	4/5, Jain Bhavan, 80 A – M B Velkar street, Kalbadevi, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-22055212
PAN No.:	AAAPB9243Q

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
105260	Equity Shares	Rs.10/- each	Rs. 1.053 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		1.053	1.053	1.053
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4.047	6.254	5.583
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		5.100	7.307	6.636
LOAN FUNDS
1] Secured Loans		9.805	0.000	0.000
2] Unsecured Loans		12.156	7.901	2.642
TOTAL BORROWING		21.961	7.901	2.642
DEFERRED TAX LIABILITIES		0.660	0.853	0.850
TOTAL		27.721	16.061	10.128
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.063	3.282	4.788
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	4.175	1.167	0.000
	Cash & Bank Balances	0.243	0.510	1.631
	Other Current Assets	16.153	13.120	4.549
	Loans & Advances	0.980	0.663	0.642
Total Current Assets		21.551	15.460	6.822
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.853	1.517	1.140
	Other Current Liabilities	7.811	0.813	0.133
	Provisions	0.379	0.379	0.252
Total Current Liabilities		14.043	2.709	1.525
Net Current Assets		7.508	12.751	5.297
MISCELLANEOUS EXPENSES		0.013	0.028	0.043
PROFIT AND LOSS ACCOUNT		18.137	0.000	0.000
TOTAL		27.721	16.061	10.128

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011	31.03.2010	31.03.2009
	SALES
	TOTAL	NA	NA	NA
Less	EXPENSES
	TOTAL	NA	NA	NA
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX	(18.708)	1.255	1.249
Less	FINANCIAL EXPENSES	1.829	0.455	0.000
	PROFIT/ (LOSS) BEFORE TAX	(20.537)	0.800	1.249
Less	TAX	(0.193)	0.129	-0.034
	PROFIT/ (LOSS) AFTER TAX	(20.344)	0.671	1.283
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	2.207	1.535	0.252
	Balance Carried to the B/S	(18.137)	2.206	1.535
	Earnings / (Loss) Per Share (Rs.)	(193.27)	6.37	12.19

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	(86.96)	4.27	0.11
Return on Investment (ROI) (PBT/Networth)		(4.03)	0.11	0.19
Debt Equity Ratio (Total Liability/Networth)		2.75	0.37	0.23
Current Ratio (Current Asset/Current Liability)		1.53	5.71	4.47

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	No
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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	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	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

VIEW INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10279046	07/03/2011	10,000,000.00	BANK OF MAHARASHTRA	CORPORATE FINANCE BRANCH, YASHOMANGAL, 1183/A, F.C.ROAD, PUNE, Maharashtra - 411005, INDIA	B10247831

* Date of charge modification

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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 61.35
UK Pound	1	Rs. 98.93
Euro	1	Rs. 77.92

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	RAS
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

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

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.