MIRA INFORM REPORT

Report No. :	316450
Report Date :	09.04.2015

IDENTIFICATION DETAILS

Name :	GUJARAT INFORMATICS LIMITED
Registered Office :	Block No 1, 8^th Floor, Udyog Bhavan, Sector – 11, Gandhinagar – 382017, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.02.1999
Com. Reg. No.:	04-035459
Capital Investment / Paid-up Capital :	Rs. 185.144 Million
CIN No.: [Company Identification No.]	U74999GJ1999SGC035459
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	AHMG00890B
PAN No.: [Permanent Account No.]	AABCG5863B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is a nodal agency engaged in promotion of Information Technology.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is set up as a nodal agency for IT development in the state by the Government of Gujarat. It is an established company having satisfactory track records. The company possesses a healthy financial profile marked by strong networth base along with low gearing and comfortable capital structure. Management has also reported a decline in its sales volume during 2014. Trade relations are fair. Business is active. Payment terms are reported as slow but correct due to bureaucratic hurdles. In view of active support from Government of Gujarat, the subject can be considered for business dealings 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.

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 BY

Name :	Mr. Samir Mehta
Designation :	General Manager (Accounting and Finance Department)
Contact No.:	91-9099057097
Date :	07.04.2015

LOCATIONS

Registered Office :	Block No 1, 8^th Floor, Udyog Bhavan, Sector – 11, Gandhinagar – 382017, Gujarat, India
Tel. No.:	91-79-23256022
Mob. No.:	91-9099057097 (Mr. Samir Mehta)
Fax No.:	91-79-23238925
E-Mail :	info@gujaratinformatics.com samirm@gujarat.gov.in
Website :
Location :	Owned

DIRECTORS

AS ON 29.12.2014

Name :	Mr. Katresal Rajarao Gururajarao
Designation :	Managing Director
Address :	A-002, Ground Floor, Adarsh Rhythm Panduranganagar, B.G. Road, Bangalore – 560076, Karnataka, India
Date of Birth/Age :	12.06.1939
Date of Appointment :	08.03.2010
DIN No.:	03008081
PAN No.:	ABPPF1884J
Name :	Mr. Girishchandra Murmu
Designation :	Nominee Director
Address :	Plot No.11/A, Sec-2, Near Swaminarayan Temple, Gandhinagar - 382002, Gujarat, India
Date of Birth/Age :	22.11.1959
Date of Appointment :	23.08.2010
DIN No.:	00183142
Name :	Ms. Aparna Subramani
Designation :	Nominee Director
Address :	Bunglow No. K-132, Sector-19, Gandhinagar – 382019, Gujarat, India
Date of Birth/Age :	14.10.1963
Date of Appointment :	21.09.2011
DIN No.:	03631971
Name :	Mr. Akshai Krishanlal Aggarwal
Designation :	Director
Address :	Plot No. 839, Sector - 8, Ch Road, Near Church, Gandhinagar, Ahmadabad – 382008, Gujarat, India
Date of Birth/Age :	16.09.1943
Date of Appointment :	30.09.2013
DIN No.:	06781848
Name :	Mr. Syed Jawaid Haider
Designation :	Director
Date of Birth/Age :	03.12.1965
Date of Appointment :	30.09.2013
DIN No.:	02879522

KEY EXECUTIVES

Name :

Japan N. Shah

Designation :

Company Secretary

Date of Appointment :

10.10.2014

Name :

Mr. Samir Mehta

Designation :

General Manager in Accounting and Finance

E-Governance Division :

Name	Designation	Tel. No. (Office)	Email
Vipul Patel	Executive	--	vipulp@gujarat.gov.in
Smita Gosai	Executive	--	smitag@gujarat.gov.in
Krunal Suthar	Executive	--	krunals@gujarat.gov.in
Amit Barot	Executive	--	amitb@gujarat.gov.in
Akhlesh Goyal	Executive	--	akhleshg@gujarat.gov.in
Khyati Sanchela	Executive	--	khyatis@gujarat.gov.in
Divya Doshiyad	Executive	--	divyad@gujarat.gov.in
Amit Patodia	Executive	--	amitp@gujarat.gov.in
Dilip Khant	Executive	--	dilipk@gujarat.gov.in
Nikunj Prajapati	Executive	--	nikunjp@gujarat.gov.in
Yatin Brahmbhatt	Executive	--	yatinb@gujarat.gov.in

Hardware Procurement Services :

Name	Designation	Tel. No. (Office)	Email
Amit Patodia	Executive	--	amitp@gujarat.gov.in
Vijay Bhaliya	Executive	--	vijayb@gujarat.gov.in
Kajal Panchal	Executive	--	kajalp@gujarat.gov.in
Hiren Patel	Executive	--	hirenp@gujarat.gov.in
Prashant Patel	Executive	--	prashantp@gujarat.gov.in
Ajay Prajapati	Executive	--	ajayp@gujarat.gov.in
Rohin Kothari	Executive	--	rohink@gujarat.gov.in

Personnel and Administration / Promotions / H.R. Services :

Name	Designation	Tel. No. (Office)	Email
Ishita Trivedi	Executive	--	ishitat@gujarat.gov.in

Finance/ Accounts and Secretarial Services :

Name	Designation	Tel. No. (Office)	Email
Ruchi Bhavsar	Executive	--	ruchim@gujarat.gov.in
Nisha Khushalani	Executive	--	nishak@gujarat.gov.in

Department of Science and Technology :

Name	Designation	Tel. No. (Office)	Tel. No. (Residence)	Email
Shri S. J. Haider, IAS	Secretary            (Science andTechnology Department)	--	--	secdst@gujarat.gov.in
D. M. Dodiya	PPS to Secretary  (Science and Technology)	--	--	pa2secdst@gujarat.gov.in
Upma Bhavsar	Executive Assistance to Secretary	--	--	upmab@gujarat.gov.in
Shri G. C. Shah	Joint Secretary (IT) (Science and Technology)	--	--	jsit@gujarat.gov.in
Shri S. R. Soni	Joint Secretary BT, Estt.	--	--	ds-estt snt@gujarat.gov.in
Shri Ashok J. Bhadeshia (I/C)	Under Secretary (IT)	--	--	usit@gujarat.gov.in
Sanjay Shah	Technical Officer	--	--	sanjays@gujarat.gov.in
Archis Gupta	Executive	--	--	exec-snt@gujarat.gov.in
Jaydev Palas	Executive	--	--	jaydevp@gujarat.gov.in
Manish Darji	Executive	--	--	manishd@gujarat.gov.in

Employees Deputed in Various Depts :

Name	Designation	Department	Tel. No.	Mobile no.	Email
Ankit Shah	Executive	Agriculture & Co-operation	--	--	sm-agri@gujarat.gov.in
Mahmadfaruk Bhabhor	Executive	Social Justice & Empowerment	--	--	sm-sjd@gujarat.gov.in
Paras Majithia	Executive	Finance Department	--	--	sm-fd@gujarat.gov.in
		Legal Department			sm-legal@gujarat.gov.in
Anish Patel	Technical Assistant	Vidhansabha	--	--	anishm@gujarat.gov.in
Jatin Patel Vishal Patel	Executive	Panchayat, Rural Housing & Rural Development	--	--	jatinp@gujarat.gov.in vishalp@gujarat.gov.in
		Tribal Development Development	--
Karan Bhavsar	Technical Assistant	Energy and Petrochemicals Department	--	--	karanb@gujarat.gov.in sm-hfw@gujarat.gov.in
		Health & Family Welfare Department	--
Upma Bhavsar	Executive	Science & Technology	--	--	upmab@gujarat.gov.in
Shabbir Malvi	Executive	Industries & Mines	--	--	sm-imd@gujarat.gov.in
		Labour & Employment	--
Kushang Jani	Executive	Home Dept	--	--	sm-hd@gujarat.gov.in
Jignesh Gandharv	Executive	Legislative & Parliamentary Affairs	--	--	jigneshg@gujarat.gov.in
		Ports & Transport Dept	--
Vishal Parmar	Executive	General Administration Dept	--	--	sm-gad@gujarat.gov.in
Manoj Pal	Executive	Revenue Dept	--	--	sm-rd@gujarat.gov.in
Nihar Chaudhry	Executive	Education Dept	--	--	sm-ed@gujarat.gov.in
Ashish Patel	Executive	Urban Development & Urban Housing dept	--	--	sm-udd@gujarat.gov.in
		Road & Building Dept	--	--	ashishp@gujarat.gov.in
Rajuji Thakor	Technical Assistant	Narmada, Water Res, Water Supply & Kalpsar Dept	--	--	sm-nwrws@gujarat.gov.in
		Women & Child Development	--
Marmik Gamit	Technical Assistant	Food, Civil Supplies & Consumer Affairs	--	--	sm-fcs@gujarat.gov.in
Vaishali Daudia	Technical Assistant	Sports, Youth & Cultural Activities dept	--	--	vaishalid@gujarat.gov.in
		Information & Broadcasting	--
Hardik Dave	Technical Assistant	Chief Ministers Office	--	--	hardik@gujarat.gov.in
Mehul Panchal Malhar Vyas	Executive Technical Assistant	Commissionerate of Commercial Tax	--	--	mehulp@gujarat.gov.in malharv@gujarat.gov.in
Jaswant Makwana	Executive	State Data Center, Gandhinagar	--	--	jasvantm@gujarat.gov.in

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.12.2014

Names of Shareholders	No. of Shares
Gujarat State Mineral Development Corporation Limited, India	1000000
Sardar Sarovar Narmada Nigam Limited, India	450000
Hon’ble Governor of Gujarat, India	17064393
Total	18514393

AS ON 29.12.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Government [State]	92.17
Government Companies	7.83
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is a nodal agency engaged in promotion of Information Technology.
Products :	Design and development services of a web page including content development.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	Not Divulged
Branch Address	Not Divulged
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

--

Auditors :
Name :	J.H. Mehta and Company Chartered Accountants
Address :	203, Onyx Building, Near Raj – Hans Society, St. Xavier’s College, Corner Road, Ellisbridge Ahmedabad – 380006, Gujarat, India
Tel. No.:	AADFJ2616G
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 29.12.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs. 10/- each	Rs. 250.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18514393	Equity Shares	Rs. 10/- each	Rs. 185.144 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	185.144	185.144	185.144
(b) Reserves & Surplus	1044.629	831.883	616.050
(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)	1229.773	1017.027	801.194
(3) Non-Current Liabilities
(a) long-term borrowings	85.896	85.896	94.201
(b) Deferred tax liabilities (Net)	0.071	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	85.967	85.896	94.201
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	6.613	5.735	5.622
(c) Other current liabilities	2483.804	3025.180	2253.951
(d) Short-term provisions	0.000	0.000	242.800
Total Current Liabilities (4)	2490.417	3030.915	2502.373
TOTAL	3806.157	4133.838	3397.768
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	100.172	96.936	97.431
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	266.303	266.303	274.609
(c) Deferred tax assets (net)	0.000	0.221	0.195
(d) Long-term Loan and Advances	5.834	5.600	5.518
(e) Other Non-current assets	21.360	18.589	0.000
Total Non-Current Assets	393.669	387.649	377.753
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	79.292	44.931	43.706
(d) Cash and cash equivalents	616.834	859.772	478.404
(e) Short-term loans and advances	2371.950	2548.680	2497.905
(f) Other current assets	344.412	292.806	0.000
Total Current Assets	3412.488	3746.189	3020.015
TOTAL	3806.157	4133.838	3397.768

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	112.712	168.353	272.671
		Other Income	287.142	252.119	0.924
		TOTAL (A)	399.854	420.472	273.595
Less	EXPENSES
		Employees benefits expense	23.224	18.016	17.154
		Other expenses	13.440	11.958	5.384
		Prior Period Items Before Tax	2.782	0.054	0.000
		TOTAL (B)	39.446	30.028	22.538
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		360.408	390.444	251.057
Less	FINANCIAL EXPENSES (D)		37.176	38.157	38.407
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		323.232	352.287	212.650
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.893	0.766	0.800
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		322.339	351.521	211.850
Less	TAX (H)		109.593	114.174	72.099
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		212.746	237.347	139.751
	Earnings / (Loss) Per Share (Rs.)		11.49	12.82	7.55

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	188.75	140.98	51.25
Operating Profit Margin (PBDIT/Sales)	(%)	319.76	231.92	92.07
Return on Total Assets (PBT/Total Assets}	(%)	9.11	9.09	6.78
Return on Investment (ROI) (PBT/Networth)		0.26	0.35	0.26
Debt Equity Ratio (Total Debts/Networth)		0.07	0.08	0.12
Current Ratio (Current Asset/Current Liability)		1.37	1.24	1.21

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	185.144	185.144	185.144
Reserves & Surplus	616.050	831.883	1044.629
Net worth	801.194	1017.027	1229.773
long-term borrowings	94.201	85.896	85.896
Short term borrowings	0.000	0.000	0.000
Total borrowings	94.201	85.896	85.896
Debt/Equity ratio	0.118	0.084	0.070

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	273.595	420.472	399.854
		53.684	(4.904)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	273.595	420.472	399.854
Profit	139.751	237.347	212.746
	51.08%	56.45%	53.21%

LOCAL AGENCY FURTHER INFORMATION

NOTE: CURRENT MATURITY LONG TERM DEBT DETAILS ARE NOT AVAILABLE.

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 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	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	Yes
23]	Banking Details	No
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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

LITIGATION DETAILS

HIGH COURT OF GUJARAT

CIVIL APPLICATION (FOR DIRECTION) No. 12962 of 2014

In SPECIAL CIVIL APPLICATION / 13671 / 2013 ( PENDING )

Status : PENDING

( Converted from : C/CAST/11993/2014 )

CCIN No : 001003201412962

Next Listing Date:

09/04/2015

Coram

HONOURABLE MR.JUSTICE S.G.SHAH

Not Before :

HONOURABLE MR.JUSTICE K.M.THAKER HONOURABLE MR.JUSTICE RAJESH H.SHUKLA

S.NO.	Name of the Petitioner	Advocate On Record
1	DASRATHJI RAMAJI THAKOR	MR HL RAVAL for: Applicant(s)  1

S.NO.	Name of the Respondant	Advocate On Record
1 2 3 4	GUJARAT INFORMATICS LIMITED SAMIR MEHTA LABOUR COURT NO.1 VIGAIL SECURITIES	TRIVEDI and GUPTA for :Respondent(s)  1 - 2 MR PARITOSH CALLA for :Respondent(s)  3 MR RAJA RAM S BAJPAI for :Respondent(s)  4

Presented On	: 14/10/2014	Registered On	: 21/11/2014
Bench Category	: -	District	: GANDHINAGAR
Case Originated From	: THROUGH HIS/HER/THEIR ADVOCATE	Listed	: 13 times
StageName	: ADMISSION - CA

Classification	SJ - CIVIL MISC. APPLICATION - CODE OF CIVIL PROCEDURE, 1908 - REVIEW / MODIFICATION / DIRECTION / EXTENSION OF TIME / CLARIFICATION
Act	CIVIL PROCEDURE CODE, 1908

Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	14/10/2014	ADVANCE COPY OF PETITION	TRIVEDI and GUPTA ADVOCATE for RESPONDENT(s)  1	0	M/S TRIVEDI & GUPTA(949) for R:1 - 2
2	14/10/2014	VAKALATNAMA FILED IN MAIN MATTER	MR HL RAVAL ADVOCATE for PETITIONER(s)  1	0	MR HL RAVAL(1048) for P:1
3	14/10/2014	ADVANCE COPY OF PETITION	MR PARITOSH CALLA ADVOCATE for RESPONDENT(s)  3	0	MR PARITOSH CALLA(2972) for R:3
4	14/10/2014	MEMO OF PETITION/APPEAL/SUIT	MR HL RAVAL ADVOCATE for PETITIONER(s)  1	20	MR HL RAVAL(1048), for P:1
5	21/11/2014	ADVANCE COPY OF PETITION	MR RAJA RAM S BAJPAI ADVOCATE for RESPONDENT(s)  4 , 4	0	MR RAJA RAM S BAJPAI(7188) for R:4
6	06/02/2015	AFFIDAVIT IN REPLY	TRIVEDI and GUPTA ADVOCATE for RESPONDENT(s)  1	0	M/S TRIVEDI & GUPTA(949) for R:1
7	18/02/2015	AFFIDAVIT IN RE-JOINDER	MR HL RAVAL ADVOCATE for PETITIONER(s)  1	0	MR HL RAVAL(1048) for P:1
Court Proceedings

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	24/11/2014	8	3-	FOR REGULAR ADMISSION	NEXT DATE	HONOURABLE MR.JUSTICE S.R.BRAHMBHATT
2	01/12/2014	8	19	ADMISSION - CA	NEXT DATE	HONOURABLE MR.JUSTICE S.R.BRAHMBHATT
3	08/12/2014	8	39	URGENT ADMISSION - CA	NEXT DATE	HONOURABLE MR.JUSTICE S.R.BRAHMBHATT
4	11/12/2014	8	19	URGENT ADMISSION - CA		HONOURABLE MR.JUSTICE S.R.BRAHMBHATT
5	19/12/2014	8	61	URGENT ADMISSION - CA	NEXT DATE	HONOURABLE MR.JUSTICE S.R.BRAHMBHATT
6	07/01/2015	19	52	URGENT ADMISSION - CA	NEXT DATE	HONOURABLE MR.JUSTICE S.R.BRAHMBHATT  HONOURABLE MR.JUSTICE N.V.ANJARIA
7	19/01/2015	19	98	URGENT ADMISSION - CA	NEXT DATE	HONOURABLE MR.JUSTICE N.V.ANJARIA
8	06/02/2015	19	61	URGENT ADMISSION - CA	NEXT DATE	HONOURABLE MR.JUSTICE N.V.ANJARIA
9	20/02/2015	19	84	URGENT ADMISSION - CA	NEXT DATE	HONOURABLE MR.JUSTICE N.V.ANJARIA
10	02/03/2015	19	89	URGENT ADMISSION - CA	NEXT DATE	HONOURABLE MR.JUSTICE N.V.ANJARIA
11	18/03/2015	22	72	URGENT ADMISSION - CA	NEXT DATE	HONOURABLE MR.JUSTICE N.V.ANJARIA  HONOURABLE MR.JUSTICE S.G.SHAH
12	09/04/2015	22	72	URGENT ADMISSION - CA		HONOURABLE MR.JUSTICE S.G.SHAH

COMPANY OVERVIEW

Subject is a nodal agency of Government of Gujarat for Promotion of Information Technology in the State and helping the Government with Technical advice and support. GIL plays a role of consultant and provides hardware and software consultancy to various Government Departments/ Boards/ Corporations and helps them in their IT procurement and implementation of IT Projects. Subject is a Central Purchase Organization of the State Govt. for IT Products. Since its inception, Subject is gaining significant ground with its endeavours for computerization of Government departments, training of CIO's, developing applications.

PERFORMANCE

Subject, as a nodal agency of the State Government for promotion of Information Technology has been engaged in helping the Government with technical advice and support throughout the year. Since its inception, Subject has worked aggressively in the implementation of e-governance projects in the state. Subject is having a clear objective to promote ICT and accelerate the process of eGovernance in the State.

Subject plays a role of consultant and is providing hardware consultancy, software consultancy as well as facilitates training for the implementation of E-Governance projects. Subject also helps Government offices by providing rate contracts after negotiating with OEMs for software products and Computer consumables like Printer Cartridges. Subject also helps various Government Departments and offices in nominating for awards at various forums, showcasing their achievements in the field of e-governance and winning 78 Awards in the year 2013-14.

Some of the Promotional activities undertaken by GIL during 2013-14 are:

Subject has been sponsoring Devang Mehta Foundation Trust event every year in association with NASSCOM to promote young engineers.

Subject gives awards for best projects submitted by final year students of Gujarat Technical University. This year also, Subject and NASSCOM have successfully conducted the event at Ahmedabad.

Subject has also sponsored SITA IT Expo 2013, AMALTHEA at IIT Gandhinagar, IESA Vision Summit 2014, SKOCH Consultancy Services Private Limited, Synapse 2014 at DA-IICT, and 2nd Leadership Summit by ASSOCHAM.

The Center of Excellence (COE) at Gandhinagar is providing state of the art Information Technology Training and Support Infrastructure to the Government personnel. This Centre has been empanelled for providing CCC+ training to government employees. During the year, 06 Batches of 158 participants have been imparted CCC+ training. Various Technology seminars/sessions have been held for the benefit of Chief Information Officers and other Government Employees at COE.

Subject, as the implementing agency of the State Data Centre, has ensured that the Data Centre is maintained and operated at optimum level. All ISO-20000/27001 practices were maintained. The lay- out of the racks in the Data Centre has been optimized to accommodate more Hardware components related to applications of various Government Departments. The battery back-up and other supporting parameters were also enhanced as per the requirement.

As the contract of Department of Science and Technology for Operation and Maintenance of GSWAN with Tulip had to be terminated, Subject was asked to take over its operation and maintenance. Subject has successfully maintained the Network and also modernized various Hardware, Server Rooms and Network Management System. Manpower was provided at all Taluka centres including 23 new Talukas and 7 new Districts. The Network has been expanded by adding 1400 new extensions, thereby enabling it to reach the remote locations of the State.

INDEX OF CHARGES

NO CHARGES EXIST FOR THE COMPANY.

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Borrowing from government semi-government bodies	85.896	85.896
Total	85.896	85.896

FIXED ASSETS

• Land
• Plant and Equipment
• Furniture and Fixture
• Vehicles
• Office Equipment
• Computer

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 records 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. 62.33
UK Pound	1	Rs. 92.83
Euro	1	Rs. 68.08

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUB
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	6
--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	YES
--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		52

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.