MIRA INFORM REPORT

Report No. :	322132
Report Date :	13.05.2015

IDENTIFICATION DETAILS

Name :	ILIFE IT SOLUTIONS PRIVATE LIMITED
Registered Office :	Nilmani, Mitra Mandal Colony, 484/103, Parvati, Pune – 411009, Maharashtra
Tel no. :	91-20-32329310
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	12.07.2013
Com. Reg. No.:	11-148097
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U72300PN2013PTC148097
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	PNEI06683F
PAN No.: [Permanent Account No.]	AADCI3104P
Legal Form :	Private Limited Liability Company
Line of Business :	Distributor of computer peripherals.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a successor of Solution India Inc. partnership concern incorporated during the year 2003 and later on 12^th July, 2013 it got converted into iLife IT Solution Private Limited. It is having a moderate track record. Ms. Revati (Account Executive) has provided us with the general information and she also confirmed that the activities has been started from Date of Incorporation in iLife IT Solution Private Limited. The company has incurred a huge accumulated loss which has eroded the Net Worth of the company during 2014. However, business is active. Payment term are reported to be slow, The subject can be considered for business dealings on 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.

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.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Ms. Revati Angir
Designation :	Account Executive
Contact No.:	91-20-24429312
Date :	12.05.2015

LOCATIONS

Registered Office :	Nilmani, Mitra Mandal Colony, 484/103, Parvati, Pune – 411009, Maharashtra, India
Tel. No.:	91-20-32329310/24429312
Mobile no.:	91-9890679311 (Mr. Chandresh)
Fax No.:	Not Available
E-Mail :	Creditor@ilifestore.in chandres@ilifestore.in claims@ilifestore.in
Location:	Rented

DIRECTORS

As on 30.09.2014

Name :	Mira Manish Vithalani
Designation :	Director
Address :	Building Wing B2 Ft 9 Ideal Colony, Ideal Park Kothrud, Pune, 411038, Maharashtra, India
Date of Appointment :	25.07.2014
DIN No.:	06530602
Name :	Mr. Chandresh Harsukhlal Vithlani
Designation :	Director
Address :	Flat No. B-74, Motiram Park, Near Kothrud Stand Kothrud, Pune, 411038, Maharashtra, India
Date of Birth/Age :	18.08.1973
Date of Appointment :	12.07.2013
DIN No.:	06530604
Name :	Mr. Manish Uchhrangrai Vithalani
Designation :	Director
Address :	Flat no. 9 Ideal Park Building Wing B2, Ideal Colony, Kothrud, Pune, 411038, Maharashtra, India
Date of Birth/Age :	28.09.1970
Date of Appointment :	12.07.2013
DIN No.:	06530605
Name :	Seema Chandresh Vithlani
Designation :	Director
Address :	Flat No. B-74, Motiram Park,, Near Kothrud Stand,, Pune, 411038, Maharashtra, India
Date of Birth/Age :	07.03.1974
Date of Appointment :	25.07.2014
DIN No.:	06921003
Name :	Mr. Bhavesh Uchangrai Vithalan
Designation :	Director
Address :	14 Om Namah Shivay Big Danapith Society, College Road, Junagadh, 362001, Gujarat, India
Date of Birth/Age :	15.02.1966
Date of Appointment :	25.07.2014
DIN No.:	06927532
Name :	Ranjanben Uchangrai Vithalani
Designation :	Director
Address :	Block 14, Om Namah Shivay, Big Danapith Society, College Road, Junagadh Mangnath Road Malia, Junagadh, 362001, Gujarat, INDIA
Date of Birth/Age :	25.02.1943
Date of Appointment :	25.07.2014
DIN No.:	06927539
Name :	Mr. Uchhrangray Babulal Vithalani
Designation :	Director
Address :	14, Big Danapith Society, College Road,, Junagadh, 362001, Gujarat, India
Date of Birth/Age :	30.10.1937
Date of Appointment :	25.07.2014
DIN No.:	06927547
Name :	Pratimaben Harsukhlal Vithlani
Designation :	Director
Address :	Block No. 401, Sadguru Complax,, Near Hanuman Madhi, Raiya Road, Rajkot, 360007, Gujarat, India
Date of Birth/Age :	21.04.1951
Date of Appointment :	25.07.2014
DIN No.:	06929083
Name :	Mr. Harsukhlal Babulal Vithlani
Designation :	Director
Address :	Block No. 401, Sadguru Complax,, Near Hanuman Madhi, Raiya Road, Rajkot, 360007, Gujarat, India
Date of Birth/Age :	23.04.1942
Date of Appointment :	25.07.2014
DIN No.:	06929111

KEY EXECUTIVES

Name :	Ms. Revati Angir
Designation :	Account Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age
Manish Uchhrangrai Vithalani	2500	25.00
Mina Manish Vithalani	2500	25.00
Chandresh Harsukhlal Vithlani	5000	50.00
Total	10000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Distributor of computer peripherals.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, Advance Payment and Credit
Purchasing :	Cash, Advance Payment and Credit

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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Others

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 :

20 (Approximately)

Bankers :

Banker Name	Bank of Maharashtra
Branch Address	Pune Branch, 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 :	Kavita Tatiya and company Chartered Accountants
Address :	90A, II Floor, Prestige Point, Shukrawar Peth, Pune – 411002, Maharashtra, India
Tel. No.:	91-20-24470703
Mobile No.:	91-9822462501
E-Mail :	kavita3tatiya@hotmail.com
PAN No.:	ACSPT6998E
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs.10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	(1.637)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	(1.537)
(3) Non-Current Liabilities
(a) long-term borrowings	3.000
(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)	3.000
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.928
(c) Other current liabilities	0.045
(d) Short-term provisions	0.211
Total Current Liabilities (4)	1.184
TOTAL	2.647
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.016
(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	0.016
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.178
(c) Trade receivables	0.445
(d) Cash and cash equivalents	0.187
(e) Short-term loans and advances	0.276
(f) Other current assets	1.545
Total Current Assets	2.631
TOTAL	2.647

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014
	TOTAL INCOME	0.730
Less	EXPENSES
	TOTAL	2.367
	PROFIT/ (LOSS) BEFORE TAX	(1.637)
Less	TAX	0.000
	PROFIT/ (LOSS) AFTER TAX	(1.637)
	Earnings / (Loss) Per Share (Rs.)	(163.70)

Expected Sales (2014-2015): Rs. 400.000 Million

The above information has been parted by Ms. Revati Angir

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT/Total Income)	(%)	(224.25)
Return on Total Assets (PBT/Total Assets}	(%)	(61.84)
Return on Investment (ROI) (PBT/Networth)		1.07
Debt Equity Ratio (Total Debt /Networth)		(1.95)
Current Ratio (Current Asset/Current Liability)		2.22

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS: 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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one years	Yes
12]	Profitability for last one years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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	No
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	No
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

RESULTS OF OPERATION AND FUTURE PROSPECTS

This was the first year of operations of the Company. Company achieved the gross turnover amounting Rs. 0.730 Million and incurred a loss of Rs. 1.637 Million.

Company has commenced the business activities and also incurred various administrative expenses to establish the business. The Board of Directors is exploring various opportunities for business for increasing the turnover and profitability of the Company.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014
LONG TERM BORROWING
Loans and advances from directors
Chandresh Vithlani	1.550
Manish Vithlani	0.765
Meera Vithalani	0.685
Total	3.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10544726	01/09/2014	17,500,000.00	BANK OF MAHARASHTRA	ERANDAVANE BRANCH, PUNE, Maharashtra - 411004, INDIA	C41291584

* Date of charge modification

FIXED ASSETS

• Land
• Building
• Plant and Equipment
• Furniture and fixture
• Vehicle
• Office Equipment

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.64.20
UK Pound	1	Rs.100.03
Euro	1	Rs.71.91

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		11

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.