MIRA INFORM REPORT

Report No. :	326551
Report Date :	09.06.2015

IDENTIFICATION DETAILS

Name :	AIRPAY PAYMENT SERVICES PRIVATE LIMITED
Registered Office :	104, Sir Vithaldas Chambers, Bombay Samachar Marg, Fort, Mumbai – 400023, Maharashtra
Tel. No.:	91-22-66101421
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	09.04.2012
Com. Reg. No.:	11-229364
Capital Investment / Paid-up Capital :	Rs.5.000 Million
CIN No.: [Company Identification No.]	U72900MH2012PTC229364
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Providing information technology services.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a private limited company incorporated in the year 2012, having moderate track. Management if the company has failed to file its financials of FY 14 to the government department. As per financials of FY 13 (First year of operation), the profit amount is minimal. However, trade relations are fair. Business is active. Payment terms are slow. The company can be considered for business dealings with 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 – 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 DECLINED BY

Name :	Mr. Paresh
Designation :	Accounts Executive
Contact No.:	91-22-66101421
Date :	08.06.2015

LOCATIONS

Registered Office :	104, Sir Vithaldas Chambers, Bombay Samachar Marg, Fort, Mumbai – 400023, Maharashtra, India
Tel. No.:	91-22-66101421
Fax No.:	Not Available
E-Mail :	kunal@e-phoria.com

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Kunal Rajeshkumar Jhunjhunwala

Designation :

Director

Address :

3 Sital Sagar, 64 Walkeshwar Road Malabar Hill, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

07.03.1984

Date of Appointment :

09.04.2012

DIN No.:

00867770

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	U72900MH2011PTC217476	GotCubed Services Private Limited	Director	13-05-11	13-05-11	-	Active	NO
2	U72900MH2012PTC229364	Airpay Payment Services Private Limited	Director	09-04-12	09-04-12	-	Active	NO
3	U92490MH2013PTC247274	GROOVERABBIT PRODUCTIONS PRIVATE LIMITED	Director	21-08-13	21-08-13	-	Active	NO
4	U72200MH2000PTC125384	ONEX SYSTEMS PRIVATE LIMITED	Director	30-09-14	08-09-14	-	Active	NO
5	AAA-4892	DIGITALHATHI MEDIA SERVICES LLP	Designated Partner	20-05-11	20-05-11	-	Active	NO

Name :

Mr. Rohan Anil Deshpande

Designation :

Director

Address :

D 2, Saraswat Colony, Sitladevi Temple Road, Mahim, Mumbai - 400016, Maharashtra, India

Date of Birth/Age :

24.09.1979

Date of Appointment :

09.04.2012

DIN No.:

02886690

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	U64201MH2010PTC200335	BEAMERS DIGITAL MEDIA PRIVATE LIMITED	Director	22-02-10	22-02-10	12-09-14	Active	NO
2	U72900MH2011PTC217476	GotCubed Services Private Limited	Director	13-05-11	13-05-11	-	Active	NO
3	U72900MH2012PTC229364	Airpay Payment Services Private Limited	Director	09-04-12	09-04-12	-	Active	NO
4	U92490MH2013PTC247274	GROOVERABBIT PRODUCTIONS PRIVATE LIMITED	Director	21-08-13	21-08-13	-	Active	NO
5	AAA-4892	DIGITALHATHI MEDIA SERVICES LLP	Designated Partner	20-05-11	20-05-11	-	Active	NO

Name :

Mr. Amit Kamal Kapoor

Designation :

Additional director

Address :

A 502, Grace (Vasant Marvel Complex Off Western, Express Highway, Village Megathane, Borivali, Mumbai - 400066, Maharashtra, India

Date of Birth/Age :

18.10.1976

Date of Appointment :

01.07.2013

DIN No.:

06635883

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	U72900MH2012PTC229364	Airpay Payment Services Private Limited	Director	30-09-13	01-07-13	-	Active	NO

Name :

Mr. Rajeshkumar Radheshyam Jhunjhunwala

Designation :

Director

Address :

14, Chowpatty View, Morvi Lane, Chowpatty Sea Face, Mumbai-400007, Maharashtra, India

Date of Appointment :

07.08.2014

DIN No.:

00083944

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	U67120MH1988PTC049423	HILLCROFT INVESTMENTS COMPANY PRIVATE LIMITED	Director	02-01-89	02-01-89	-	Active	NO
2	U65910MH1986PTC040671	CLUE LEASING AND FINANCE PRIVATE LIMITED	Director	21-09-91	21-09-91	-	Active	NO
3	U25209MH1992PTC065784	VISAR PLASTIC INDUSTRIES PVT LTD	Director	09-03-92	09-03-92	-	Active	NO
4	U65990MH1992PTC065792	ISRANI INVESTMENT PVT LTD	Director	09-03-92	09-03-92	-	Active	NO
5	U51900MH1992PTC065793	VINDU TRADING PVT LTD	Director	09-03-92	09-03-92	-	Active	NO
6	U74999MH1992PLC066502	INDIA PROPERTY NETWORK LIMITED	Director	24-04-92	24-04-92	02-05-12	Active	NO
7	U25209MH1992PTC066506	VERMA PLASTIC CONSULTANTS PVT LTD	Director	24-04-92	24-04-92	-	Active	NO
8	U25209MH1992PTC066508	VERMA PLASTICS TRADERS PRIVATE LIMITED	Director	24-04-92	24-04-92	-	Strike off	NO
9	U45202MH1992PTC067498	VISAR CONSTRUCTION PRIVATE LIMITED	Director	01-07-92	01-07-92	-	Active	NO
10	U74999MH1946PTC005049	WINDMARE INDIA PRIVATE LIMITED	Director	26-04-93	26-04-93	-	Active	NO
11	U17120MH1993PTC074456	RaRe EQUITY PRIVATE LIMITED	Director	05-04-95	05-04-95	-	Active	NO
12	U51900MH1995PTC091673	VISAR EXPORTS PRIVATE LIMITED	Director	17-08-95	17-08-95	-	Active	NO
13	U67120MH1997PTC111868	RARE SHARES & STOCKS PRIVATE LIMITED	Director	14-06-99	14-06-99	-	Active	NO
14	U72200MH2000PTC125384	ONEX SYSTEMS PRIVATE LIMITED	Director	03-10-00	03-10-00	08-09-14	Active	NO
15	U72900MH2000PTC125416	SHAKTI COMPUTERS PRIVATE LIMITED	Director	06-12-00	06-12-00	08-09-14	Active	NO
16	U52392MH2000PTC125474	WAVELENGTH COMPUTERS PRIVATE LIMITED	Director	06-12-00	06-12-00	05-08-14	Active	NO
17	U24130MH1989PTC050550	LONG-LIFE POLYMERS PVT LTD	Director	16-01-01	16-01-01	07-12-12	Active	NO
18	U72900MH2001PTC133671	E-PHORIA TECHNOLOGIES PRIVATE LIMITED	Director	15-10-01	15-10-01	-	Active	NO
19	U45200MH2004PTC149281	JANDJ BUILDCON PRIVATE LIMITED	Director	27-10-04	27-10-04	01-01-13	Active	NO
20	U45200MH2005PTC152134	BLUE STONE PROPERTIES PRIVATE LIMITED	Director	22-03-05	22-03-05	09-11-09	Active	NO
21	U45201TG1993PLC057762	DHARTI DREDGING AND INFRASTRUCTURE LIMITED	Director	21-09-05	21-09-05	-	Active	NO
22	U45200TG2006PTC050476	MARINE DREDGING PRIVATE LIMITED	Director	28-06-06	28-06-06	-	Active	NO
23	U72200GA2006PTC004816	Inventurus Knowledge Solutions Private Limited	Director	05-09-06	05-09-06	-	Active	NO
24	U72200MH2000PTC125862	INVENTURUS KNOWLEDGE SERVICES PRIVATE LIMITED	Director	27-06-07	27-06-07	-	Amalgamated	NO
25	U45201MH2007PTC173574	NEUMEC DEVELOPMENT & ALLIED SERVICES Private Limited	Director	30-09-11	02-05-11	10-11-14	Active	NO
26	U65910MH1993PTC075469	ANOR FINANCE PVT LTD	Additional director	11-07-11	11-07-11	-	Active	NO
27	U72900MH2012PTC229364	Airpay Payment Services Private Limited	Director	30-09-14	07-08-14	-	Active	NO
28	U67120MH1992PTC065783	SHIVHARE WEB SERVICES PRIVATE LIMITED	Additional director	22-10-14	22-10-14	-	Active	NO
29	U65923MH2013PTC247317	NISUS FINANCE SERVICES CO PRIVATE LIMITED	Additional director	19-01-15	19-01-15	-	Active	NO
30	U63041WB1987PLC043487	OTS LTD	Additional director	31-03-15	31-03-15	-	Active	NO
31	AAC-1807	RATNASAGAR DEVELOPERS LIMITED LIABILITY PARTNERSHIP	Designated Partner	16-03-14	16-03-14	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Paresh
Designation :	Accounts Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares	%age holding
Kunal Rajeshkumar Jhunjhunwala	1000	0.20
Rohan Anil Deshpande	1000	0.20
Digitalhathi Media Services LLP, India	498000	99.60
Total	500000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2013

Category	Percentage
Directors or relatives of Directors	0.40
Other top fifty shareholders	99.60
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing information technology services.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

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 :

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

Auditors :
Name :	V.J. Kanodia and Company Chartered Accountant
Address :	A/406 Hiranandani Gaden, Powai, Mumbai – 400076, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AABPK4746J
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AFTER 30.09.2013

Authorised Capital : Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 6.699 Million

AS ON 31.03.2013

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
500000	Equity Shares	Rs.10/- each	Rs. 5.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	5.000
(b) Reserves & Surplus	0.007
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	5.007
(3) Non-Current Liabilities
(a) long-term borrowings	0.780
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.780
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.000
(c) Other current liabilities	0.586
(d) Short-term provisions	0.000
Total Current Liabilities (4)	0.586
TOTAL	6.373
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
Total Non-Current Assets	0.000
(2) Current assets
(a) Current investments	0.000
(b) Inventories	6.007
(c) Trade receivables	0.000
(d) Cash and cash equivalents	0.220
(e) Short-term loans and advances	0.000
(f) Other current assets	0.146
Total Current Assets	6.373
TOTAL	6.373

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013
	SALES
	Income	NA
	Other Income	NA
	TOTAL	NA
Less	EXPENSES	NA
	PROFIT/ (LOSS) BEFORE TAX	NA
Less	TAX	NA
	PROFIT/ (LOSS) AFTER TAX	0.007
	Earnings / (Loss) Per Share (Rs.)	0.01

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2013
Current Maturities of Long term debt	NA
Cash generated from operations	NA

KEY RATIOS

PARTICULARS	31.03.2013
Debt Equity Ratio (Total Debt /Networth)	0.16
Current Ratio (Current Asset/Current Liability)	10.88

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	No
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	No
26	Turnover of firm for last one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last last one year	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

UNSECURED LOAN

Particulars	31.03.2013 (Rs. in Million)
LONG TERM BORROWING
From director	0.780
Total	0.780

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

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.64.11
UK Pound	1	Rs.97.84
Euro	1	Rs.71.12

INFORMATION DETAILS

Information Gathered by :	REK
Analysis Done by :	KIN
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.