MIRA INFORM REPORT

Report No. :	332012
Report Date :	18.07.2015

IDENTIFICATION DETAILS

Name :	KLOUDDATA LABS PRIVATE LIMITED (w.e.f. 26.05.2011)
Formerly Known As :	JAYPAR SOFTWARE PRIVATE LIMITED (w.e.f. 2005) ZENEB SOFTWARE PRIVATE LIMITED
Registered Office :	Central Facility Building, 1^st floor, A- Block, Mihan Sez, Nagpur – 441108, Maharashtra
Tel. No.:	91-7104-666251
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	27.07.2000
Com. Reg. No.:	11-127949
Capital Investment / Paid-up Capital :	Rs.4.858 Million
CIN No.: [Company Identification No.]	U72200KA2000PTC059843
TAN No.: [Tax Deduction & Collection Account No.]	MUMZ00821C
PAN No.: [Permanent Account No.]	AAACZ1208J
Legal Form :	Private Limited Liability Company
Line of Business :	The subject is involved in the activity of software service and development of software products.
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 23000
Status :	Small Business
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary company of Klouddata Inc, USA. Subject is a small private limited company incorporated in the year 2000, its scale of activities are limited. Rating takes into consideration Company’s minimal networth base small scale of operations. Further company has reported decrease in its sales turnover in FY14. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

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

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 PARTED BY

Name :	Mr. Prakash Mankar
Designation :	Accounts Department
Contact No.:	91-7104-666251
Date :	15.07.2015

LOCATIONS

Registered Office :	Central Facility Building, 1^st floor, A- Block, Mihan Sez, Nagpur – 441108, Maharashtra
Tel. No.:	91-7104-666251
Fax No.:	91-7104-666257
E-Mail :	prakashm@klouddata.com pkpande1@gmail.com
Website :	www.klouddata.com
Pune :	A.G. Technology park, Gaikwas Avenue, Survey No. 127/1, A/8, Off ITI Road, Aundh, Pune – 411007, Maharashtra, India
Tel. No.:	91-20-67080000
Fax No.:	91-20-67080001
Thailand head Office :	41/184, MOO#3, Klong Thanon, Saimai, Bangkok 10220, Tailand
Tel. No.:	+662 994 1448
Fax No.:	+66(0) 84 937 1881
Down Town Office :	33fl. Interchange 21 Building, Sukhumvit, Bangkok 10110
Tel. No.:	91-02-660 3814
Fax No.:	91-02-660 3881
Corporate Office :	1^st and 2^nd Floor, “Evolveware”, Sr. 1/1A/1/1/7/1, Baner Road, Pune – 411 045, Maharashtra, India
Tel. No.:	91-20-66078901
Fax No.:	91-20-66078902
Corporate Headquarters :	California, USA 4580 Automall Parkway, Suite 121, Fremont, CA 94538, USA
Tel. No.:	+1.510.248.0600
Fax No.:	+1.510.248.0601
Overseas Office :	Washington D.C. Metro, USA 10500 Little Patuxent Pkwy, Suite 760, Columbia, MD 21044, USA
Tel. No.:	+1.410.997.9080
Fax No.:	+1.410.997.9085

DIRECTORS

As on : 30.09.2014

Name :

Mr. Tushar Sakhalkar

Designation :

Director

Address :

B-102, Shanti Swarup Mujrati Mandal Road, Vile Parle, Mumbai – 400057, Maharashtra, India

Date of Birth/Age :

09.06.1961

Date of Appointment :

30.09.2013

DIN No.:

02127366

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	U72900MH2010PTC205187	MANNLOWE INFORMATION SERVICES PRIVATE LIMITED	Director	02/07/2010	02/07/2010	-	Active	NO
2	U72200KA2000PTC059843	KloudData Labs Private Limited	Director	30/09/2013	06/09/2013	-	Active	NO

Name :

Mr. Prakash Mankar

Designation :

Director

Address :

Flat No. 201, Shree Residence Manish Layout Bhamil, Nagpur – 440022, Maharashtra, India

Date of Birth/Age :

21.01.1977

Date of Appointment :

30.09.2013

DIN No.:

06753715

KEY EXECUTIVES

Name :	Mr. Prakash Mankar
Designation :	Accounts Department
Name :	Akshay Paranjape and Associates
Designation :	Company Secretary
Address :	Flat No. 21, Plot No. 2, Shilp – Niket Apts., Nalk Layout, Subhash Nagar, Nagpur - 440022
Mobile No.:	91-9665711555
Email Id :	akshay.paranjape@live.com

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders	No. of Shares
Klouddata INC., Wilmington	485765
Dilip Vallabhdas Karia, as Nominee of Klouddata INC, India	20
Total	485785

Equity Share Break up (Percentage of Total Equity)

As on : 30.09.2014

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	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The subject is involved in the activity of software service and development of software products.
Products :	Not Divulged
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :
Products :	Software Services
Countries :	USA Singapore Bangladesh
Imports :	Not Divulged
Terms :
Selling :	Cash, Advance Payment, Cheque and Credit
Purchasing :	Cash, Advance Payment, Cheque and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• A M Antarkar and Company
• Amol Creations
• Girikand Logistics Private Limited
• Hansa Travels
• Sethi Sales
• Novel Techno Solutions
• Pradip Electricals
• Season Hotels
• Shubham Enterprises
• Sunfire Technologies Private Limited, Pune
• Vardhans India Facilities Limited
• The Living Colour Pune

Customers :

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

No. of Employees :

250 (Approximately)

Bankers :

Bank Name	Axis Bank Limited
Branch	Civil Line, Nagpur, 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 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

Auditors :
Name :	C.R. Sagdeo and Company Chartered Accountants
Address 1 :	“PRABHA NIWAS”, Rahate Colony, Jail Road, Nagpur – 440022, Maharashtra, India
Tel. No.:	91-712-2424634 / 2447756 / 57
Fax No.:	91-712-2447754
PAN N Income-tax PAN of auditor or auditor's firm :	AABFC9503D
Pune Branch :	Tel. No.: 91-20-25638679 / 25663657 Fax No.: 91-20-25638437
Mumbai Branch :	Tel. No.: 91-22-41272121 / 22
Memberships :	--
Collaborators :	--
Holding Company :	Klouddata INC., Wilmington

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
485785	Equity Shares	Rs.10/- each	Rs.4.858 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	4.858	4.858	4.858
(b) Reserves & Surplus	3.307	(1.297)	(2.225)
(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)	8.165	3.561	2.633
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.674	0.232	0.014
(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)	0.674	0.232	0.014
(4) Current Liabilities
(a) Short term borrowings	0.771	0.000	0.000
(b) Trade payables	4.888	0.841	0.756
(c) Other current liabilities	0.000	0.483	2.523
(d) Short-term provisions	7.583	4.826	3.257
Total Current Liabilities (4)	13.242	6.150	6.536
TOTAL	22.081	9.943	9.183
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.885	1.359	0.738
(ii) Intangible Assets	1.507	0.410	0.490
(iii) Capital work-in-progress	5.000	5.224	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.400	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	8.792	6.993	1.228
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	4.525
(c) Trade receivables	5.487	0.000	0.200
(d) Cash and cash equivalents	1.217	0.872	2.052
(e) Short-term loans and advances	0.000	0.548	0.084
(f) Other current assets	6.585	1.530	1.094
Total Current Assets	13.289	2.950	7.955
TOTAL	22.081	9.943	9.183

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Other Income
	TOTAL (A)	10.028	53.919	28.841
Less	TOTAL EXPENSES (B)	7.026	53.327	28.464
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	3.002	0.592	0.377
Less	FINANCIAL EXPENSES (D)	(0.162)	(0.018)	0.006
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	3.164	0.610	0.371
Less/ Add	DEPRECIATION/ AMORTISATION (F)	(1.883)	(0.536)	0.677
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	5.047	1.146	(0.306)
Less	TAX (H)	0.442	0.218	(0.072)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	4.605	0.928	(0.234)
	Earnings / (Loss) Per Share (Rs.)	9.48	1.91	(0.48)

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 operating activity	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	45.92	1.72	-0.81
Operating Profit Margin (PBIDT/Sales)	(%)	29.94	1.10	1.31
Return on Total Assets (PBT/Total Assets}	(%)	29.55	24.28	-3.33
Return on Investment (ROI) (PBT/Networth)		0.62	0.32	-0.12
Debt Equity Ratio (Total Debt /Networth)		0.09	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.00	0.48	1.22

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	4.858	4.858	4.858
Reserves & Surplus	(2.225)	(1.297)	3.307
Net worth	2.633	3.561	8.165
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.771
Total borrowings	0.000	0.000	0.771
Debt/Equity ratio	0.000	0.000	0.094

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales (Total Income)	28.841	53.919	10.028
		86.953	(81.402)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales (Total Income)	28.841	53.919	10.028
Profit	(0.234)	0.928	4.605
	(0.81%)	1.72%	45.92%

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	Yes
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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
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	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from No. 94-B, Mittal Court, Nariman Pint, Mumbai – 400021, Maharashtra, India to the present address w.e.f. 28.04.2011

FINANCIAL PERFORMANCE:

Time and money waits for none and as the time passes the company in moving at a greater speed as compared to the previous year. The company recorded a Net Profit of Rs. 4.605 Million during the year the as against a Net Profit of Rs. 0.928 Million during the previous financial year. In the years to come the company is looking forward to give its best.

INDEX OF CHARGES : NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

Tangible Assets

• Air Conditioner
• Computer
• Printer
• Refrigerator
• UPS
• Hardware
• Office Equipment
• Office Chair
• Telephone Instruments
• Projector

Intangible assets

• Software

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.63.49
UK Pound	1	Rs.99.17
Euro	1	Rs.69.39

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KIN
Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.