MIRA INFORM REPORT

Report No. :	311159
Report Date :	09.03.2015

IDENTIFICATION DETAILS

Name :	MASTERLINE TELEBIZ PRIVATE LIMITED
Registered Office :	D -181, Industrial Area, Phase VIII B, FOCAL Point, Mohali – 160055, Punjab
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.11.1994
Com. Reg. No.:	16-015319
Capital Investment / Paid-up Capital :	Rs. 18.150 Million
CIN No.: [Company Identification No.]	U45202PB1994PTC015319
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 :	Subject is engaged into manufacturing and offering various others telecom solutions.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 230000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are reported a usually correct. In view of experienced promoters, 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 31-03-2014.

LOCATIONS

Registered Office :	D -181, Industrial Area, Phase VIII B, FOCAL Point, Mohali – 160055, Punjab, India
Tel. No.:	91-172-5063024/5063025/5063026
Fax No.:	91-172-5063027
E-Mail :	mrchechi21@rediffmail.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Ved Nanda

Designation :

Director

Address :

House No. 1567, Sector 38, B Chandigarh – 160014, Chandigarh UT, India

Date of Birth/Age :

15.04.1944

Date of Appointment :

25.04.2006

DIN No.:

00324676

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	L22212PB1986PLC033850	DRUCK GRAFEN INDIA LIMITED	Director	23-01-86	23-01-86	-	Active	NO
2	U74300CH1987PTC007847	MANU MULTIMEDIA PRIVATE LIMITED	Director	25-07-95	25-07-95	-	Strike off	NO
3	U45202PB1994PTC015319	MASTERLINE TELEBIZ PRIVATE LIMITED	Director	25-04-06	25-04-06	-	Active	NO

Name :

Mr. Naresh Nanda

Designation :

Director

Address :

House No. 1567, Sector 38, B Chandigarh – 160014, Chandigarh UT, India

Date of Birth/Age :

24.09.1968

Date of Appointment :

25.04.2006

DIN No.:

00325021

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	U45202PB1994PTC015319	MASTERLINE TELEBIZ PRIVATE LIMITED	Director	25-04-06	25-04-06	-	Active	NO
2	L22212PB1986PLC033850	DRUCK GRAFEN INDIA LIMITED	Director	30-09-08	16-01-08	-	Active	NO

Name :

Reema Nanda

Designation :

Director

Address :

House No. 1567, Sector 38, B Chandigarh – 160014, Chandigarh UT, India

Date of Birth/Age :

02.09.1977

Date of Appointment :

30.09.2011

DIN No.:

03619965

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	U45202PB1994PTC015319	MASTERLINE TELEBIZ PRIVATE LIMITED	Director	30-09-11	17-08-11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Naresh Nanda	1387100	76.42
J L Nanda	204600	11.27
Ved Nanda	190300	10.48
Reema Nanda	33000	1.82
Total	1815000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into manufacturing and offering various others telecom solutions.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Car loans	2.753	3.257
Dhanlaxmi Bank – LAP	37.564	40.548
Intec Capital Limited	3.942	5.692
Short-term borrowings
HDFC bank Limited – Working Capital Limited	22.557	23.915
Total	66.816	73.412

Banking Relations :	--
Auditors :
Name :	Khurana Vineet and Associates Chartered Accountants
Address :	SCO -63, Top Floor, Sector-20 C, Chandigarh – 160020, Chandigarh (UT), India
Tel. No.:	91-172-2709811/812/813
Fax No.:	91-172-2709814
Website:	www.kvca.in
E-Mail :	Khuranvineet.ca@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFV5747M
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs. 25.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1815000	Equity Shares	Rs.10/- each	Rs. 18.150 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	18.150	18.150	18.150
(b) Reserves & Surplus	61.657	57.390	53.489
(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)	79.807	75.540	71.639
(3) Non-Current Liabilities
(a) long-term borrowings	47.672	52.909	52.022
(b) Deferred tax liabilities (Net)	0.000	0.052	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)	47.672	52.961	52.022
(4) Current Liabilities
(a) Short term borrowings	22.557	23.915	15.655
(b) Trade payables	16.488	18.806	13.780
(c) Other current liabilities	5.831	5.241	6.666
(d) Short-term provisions	0.556	0.019	1.161
Total Current Liabilities (4)	45.432	47.981	37.262
TOTAL	172.911	176.482	160.923
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	65.082	72.179	66.825
(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	32.176	31.430	33.927
(c) Deferred tax assets (net)	0.051	0.000	0.000
(d) Long-term Loan and Advances	13.440	15.973	8.980
(e) Other Non-current assets	0.725	1.449	2.174
Total Non-Current Assets	111.474	121.031	111.906
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	14.814	16.634	8.950
(c) Trade receivables	45.318	33.216	39.545
(d) Cash and cash equivalents	0.864	5.096	0.258
(e) Short-term loans and advances	0.255	0.319	0.264
(f) Other current assets	0.186	0.186	0.000
Total Current Assets	61.437	55.451	49.017
TOTAL	172.911	176.482	160.923

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	156.413	172.092	166.741
	Other Income
	TOTAL	156.413	172.092	166.741
Less	EXPENSES	139.688	155.904	145.484
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	16.725	16.188	21.257
Less/ Add	DEPRECIATION/ AMORTISATION	11.320	10.990	12.089
	PROFIT/ (LOSS) BEFORE TAX	5.405	5.198	9.168
Less	TAX	1.393	1.239	2.917
	PROFIT/ (LOSS) AFTER TAX	4.012	3.959	6.251
	Earnings / (Loss) Per Share (Rs.)	0.22	0.22	0.34

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	3.84	3.58	7.22
Return on Investment (ROI) (PBT/Networth)		0.07	0.07	0.13
Debt Equity Ratio (Total Debt /Networth)		0.88	1.02	0.94
Current Ratio (Current Asset/Current Liability)		1.35	1.16	1.32

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	18.150	18.150	18.150
Reserves & Surplus	53.489	57.390	61.657
Net worth	71.639	75.540	79.807
long-term borrowings	52.022	52.909	47.672
Short term borrowings	15.655	23.915	22.557
Total borrowings	67.677	76.824	70.229
Debt/Equity ratio	0.945	1.017	0.880

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)
Total Income	166.741	172.092	156.413
		3.209	(9.111)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	166.741	172.092	156.413
Profit	6.251	3.959	4.012
	3.75%	2.30%	2.57%

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	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	--
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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

OPERATIONS AND FUTURE OUTTOOK

During the financial year, the company's total revenue amounted to Rs. 156.413 Million. Which is less than last year's figure of Rs.172.092 Million. However expenditure (including depreciation) has decreased from Rs.151.007 Million in the previous year to Rs.166.893 in the financial year under review. Resultantly the company has profit of Rs.4.012 Million which is more than the profit earned in the previous year of Rs. 3.959.The overall performance of the company was better and satisfactory. The management has taken note of the same and has initiated the process of introspection to further improve the position of the company. Further new marketing strategies and policies are being put into practice in order to increase the sales. The management expects better turnover and profitability in the coming future.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Directors Loan	3.413	3.412
Total	3.413	3.412

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10402186	16/01/2013	5,960,000.00	INTEC CAPITAL LIMITED	701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	B67777532
2	10079004	12/09/2013 *	62,725,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	B84812163

* Date of charge modification

FIXED ASSETS

• Air conditioner
• Land
• Building
• Computer
• Furniture and Fixtures
• Office Equipment’s
• Plant and Machinery
• Scooter
• Vehicles

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.62.20
UK Pound	1	Rs.94.71
Euro	1	Rs.68.60

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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.