MIRA INFORM REPORT

Report No. :	337754
Report Date :	22.08.2015

IDENTIFICATION DETAILS

Name :	ARANCA (MUMBAI) PRIVATE LIMITED
Registered Office :	201 and 301, B - Wing, 2nd and 3rd Floor, Supreme, Business Park, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra
Tel. No.:	91-22-39379999
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.04.2004
Com. Reg. No.:	11-145476
Capital Investment / Paid-up Capital :	Rs. 0.360 Million
CIN No.: [Company Identification No.]	U74130MH2004PTC145476
IEC No.:	0305071441
TAN No.: [Tax Deduction & Collection Account No.]	MUMA22111F
PAN No.: [Permanent Account No.]	AAECA8402D
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged into providing Consultancy Services.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 121000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company incorporated during the year 2004. It has a satisfactory track record. For the financial year 2014, the company has shown good business scale along with healthy profit earnings. Further, the company has healthy financial risk profile backed by decent net worth position and zero debt balance sheet profile. Trade relations are reported as fair. Business is active. Payments terms are usually correct. The company 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.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

EXTERNAL AGENCY RATING

NOT AVAILABLE

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 31-03-2013.

INFORMATION DECLINED BY

Name :	Mr. Amit
Designation :	Accounts Department
Contact No.:	91-22-39379999
Date :	21.08.2015

LOCATIONS

Registered Office :	201 and 301, B - Wing, 2nd and 3rd Floor, Supreme, Business Park, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India
Tel. No.:	91-22-39379999
Fax No.:	91-22-39379911
E-Mail :	amit.maisheri@aranca.com madhusudan.rajagopalan@aranca.com
Website :

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Madhusudan Rajagopalan

Designation :

Whole-Time Director

Address :

Flat No.81, A, Wing,Bulding No.4, Kalptarv Estate, Andheri (East), Mumbai-400093, Maharashtra, India

Date of Birth/Age :

28.05.1976

Date of Appointment :

01.04.2004

DIN No.:

00058602

Name :

Mr. Hemendra Aran

Designation :

Director

Address :

B-203, Lake Lucerne, Lake Homes, Off Adi, Shankaracharya Marg, Near Gopal Sharma School, Powai, Mumbai-400076, Maharashtra, India

Date of Birth/Age :

05.09.1974

Date of Appointment :

01.04.2004

DIN No.:

00058697

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74130MH2004PTC145476	ARANCA (MUMBAI) PRIVATE LIMITED	Director	01-04-2004	01-04-2004	Active	NO
2	U74900MH2015PTC264412	GITANJALI PRODUCTIONS PRIVATE LIMITED	Director	12-05-2015	12-05-2015	Active	NO

Name :

Mrs. Preethi Gopalarathnam

Designation :

Director

Address :

Flat 81, Building 4, Kalpataru Estate, Jogeshwari Vikhroli Link Road, Andheri - East, Mumbai-400093, Maharashtra, India

Date of Birth/Age :

05.01.1979

Date of Appointment :

15.06.2005

DIN No.:

00442954

Name :

Mrs. Padma Deepak Kapse

Designation :

Director

Address :

D-602, Tawade Complex, Lokmanya Tilak Road, Dahisar (West), Mumbai-400068, Maharashtra, India

Date of Birth/Age :

26.08.1960

Date of Appointment :

15.06.2005

DIN No.:

02066962

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74130MH2004PTC145476	ARANCA (MUMBAI) PRIVATE LIMITED	Director	15-06-2005	15-06-2005	Active	NO
2	U72900MH2008PTC183623	OSS SOFTWARE SOLUTIONS LABS PRIVATE LIMITED	Director	18-06-2008	18-06-2008	Active	NO
3	U72900MH2011PTC216890	NUCSOFT OSS LABS PRIVATE LIMITED	Director	29-04-2011	29-04-2011	Active	NO
4	U74899DL1994PLC059779	NUC SOFT LIMITED	Director	30-09-2013	12-08-2013	Active	NO

Name :

Mr. Christopher David Kingsman

Designation :

Director

Address :

Waldeckstr.13, Grunwald Bei Munchen, 82031, , Germany

Date of Birth/Age :

19.01.1975

Date of Appointment :

15.09.2005

DIN No.:

02595099

KEY EXECUTIVES

Name :	Mr. Amit
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	28.96
Directors or relatives of directors	58.59
Other top fifty shareholders	12.45
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into providing Consultancy Services.
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Axis Bank Limited
Branch:	Axis House, Ground Floor., Wadia International Center, Pandurang Budhkar Marg, Worli, Mumbai- 400025, Maharashtra, India
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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Provision for employee benefits
Provision for gratuity	18.731	10.300
Provision for Compensated Absences	3.262	2.268
Provision for Taxation	0.414	0.154
Total	22.407	12.722

Banking Relations :	--
Auditors :
Name :	Agarwal Vijay and Associates Chartered Accountants
Address :	503 Jolly Bhavan No. 1, New Marine Lines, Mumbai-400020, Maharashtra, India
Fax No.:	91-221-22002604
E-Mail :	vijayagarwalca@gmail.com ara503@rediffmail.com
Income-tax PAN of auditor or auditor's firm :	AABFA7732N
Memberships :	--
Collaborators :	--
Subsidiary :	· Aranca US Inc · Aranca UK Limited
Joint Venture :	Aranca Research (Phillipines) Inc

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs. 1/- each	Rs. 4.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
362018	Equity Shares	Rs. 1/- each	Rs. 0.362 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	0.360	0.360	0.326
(b) Reserves & Surplus	41.858	36.869	31.414
(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)	42.218	37.229	31.740
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	(2.653)	(1.425)	3.061
(c) Other long term liabilities	0.000	0.810	0.810
(d) long-term provisions	22.407	12.722	7.087
Total Non-current Liabilities (3)	19.754	12.107	10.958
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	9.362	8.509	6.966
(c) Other current liabilities	41.012	39.859	24.769
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	50.374	48.368	31.735
TOTAL	112.346	97.704	74.433
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	24.085	16.834	12.135
(ii) Intangible Assets	5.559	2.870	3.613
(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	0.088	0.088	0.088
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	17.372	16.660	16.660
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	47.104	36.452	32.496
(2) Current assets
(a) Current investments	0.000	1.900	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	34.775	30.382	23.911
(d) Cash and cash equivalents	18.575	18.322	11.332
(e) Short-term loans and advances	11.892	10.648	6.694
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	65.242	61.252	41.937
TOTAL	112.346	97.704	74.433

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT AFTER TAX		4.989	3.387	3.608
	Earnings Per Share (Rs.)		13.86	9.41	11.10

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Liability/Networth)	0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)	1.30	1.27	1.32

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.326	0.360	0.360
Reserves & Surplus	31.414	36.869	41.858
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	31.740	37.229	42.218
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

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10542264	24/12/2014	91,500,000.00	AXIS BANK LIMITED	AXIS HOUSE, GROUND FLOOR., WADIA INTERNATIONAL CENTER, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI- 400025, MAHARASHT RA, INDIA	C40062028

BACKGROUND OF THE COMPANY:

The Company is providing consultancy services to various clients which are Brokerage Firms, Corporate, Investment Management Firms, Independent Research Providers, Investment Banks, Law Firms, Private Equity/VC Firms, Research and Consulting Firms and Start Ups all over the world.

The company is a global provider of end-to-end Investment research, Business research, IRC 409A Valuation and IP Research services.

The company has deep cross-industry expertise and knowledge in over 70+sectors and sub-sectors and leverage this expertise for providing financial and business research, private company valuation and IP research to our clients. Among the key global sectors the company actively track includes Automotive, Commodities, Energy, Financial Services, Healthcare, Industrial, Infrastructure, Media, Oil and amp, Gas, Retail, Technology, Telecom, Tourism industry.

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from Unit 801 and 901, Wing-B, Supreme Business Park, Supreme City, Hirananani Gardens, Powai, Mumbai-400076, Maharashtra, India to the present address w.e.f 19.02.2013

CONTINGENT LIABILITIES:

Particulars	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
Guarantee issued by Company’s Bankers in favour of Excise department by way of Fixed Deposit	0.200	0.200

FIXED ASSETS:

Tangible Assets

· Furniture and Fixtures

· Office Equipment

· Computer and Software

Intangible Assets

· Software Licence

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. 65.83
UK Pound	1	Rs.103.39
Euro	1	Rs. 74.27

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	TRI
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.