MIRA INFORM REPORT

Report No. :	321986
Report Date :	13.05.2015

IDENTIFICATION DETAILS

Name :	INTEGRATED SYNDICATION SERVICES LIMITED (W.E.F. 07.01.2010)
Formerly Known As :	INTEGRATED SYNDICATION SERVICES PRIVATE LIMITED PRANAV ENGINEERS PRIVATE LIMITED
Registered Office :	Flat No.14, 4^th Floor, “E” Wing, Hermes Drome, Housing Society, Survey No.211, Viman Nagar, Pune – 411014, Maharashtra
Tel. No.:	Not Available
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.02.1985
Com. Reg. No.:	11-035413
Capital Investment / Paid-up Capital :	Rs.10.100 Million
CIN No.: [Company Identification No.]	U29413PN1985PLC035413
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	PNEI05478E
PAN No.: [Permanent Account No.]	AABCI2204A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	To undertake, transact and execute agency business for the purpose of collection/ recovery of dues such as bills, debtors, advances, of any company, firm, government agency, person or anybody corporate and to carry out all activities in connection with and related to, incidental for collection and recovery of dues.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

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 an established company having a moderate track record. Net worth of the company has been eroded due to continuous accumulated loss incurred from its operations. Also huge external borrowing taken by the company, which acts as threatening to liquidity position of the company. However, business is active. Payment terms are reported to be slow. The company can be considered for business dealing 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.

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

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 DENIED

Management non co-operative

LOCATIONS

Registered Office :	Flat No.14, 4^th Floor, “E” Wing, Hermes Drome, Housing Society, Survey No.211, Viman Nagar, Pune – 411014, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	secretarial.efiling@gmail.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Anant Sitaram Deshmukh

Designation :

Director

Address :

Flat No. 37, S. No. 629, Suyog Aditya Residency No. 2, Bibwewadi, Pune – 411037, Maharashtra, India

Date of Birth/Age :

31.07.1942

Date of Appointment :

01.09.2003

DIN No.:

00449571

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	U67120MH1994PLC076785	INDSEAM SERVICES LIMITED	Director	10/12/2001	10/12/2001	-	Amalgamated	NO
2	U51220MH1987PTC045003	SEAMLESS SYNDICATION SERVICES Private Limited	Director	01/09/2003	01/09/2003	28/01/2015	Active	NO
3	U29413PN1985PLC035413	INTEGRATED SYNDICATION SERVICES LIMITED	Director	01/09/2003	01/09/2003	-	Active	NO
4	U40100TN2009PTC073632	HEMERA ENERGY PRIVATE LIMITED	Additional director	16/06/2010	16/06/2010	-	Strike off	NO
5	U45203TN2009PTC073630	ANALA PORT PRIVATE LIMITED	Additional director	16/06/2010	16/06/2010	-	Strike off	NO
6	U40109TN2009PTC073631	TAPANA ENERGY PRIVATE LIMITED	Additional director	16/06/2010	16/06/2010	-	Strike off	NO
7	U40109TN2009PTC073537	RUKMAT ENERGY PRIVATE LIMITED	Director	13/05/2011	18/06/2010	-	Strike off	NO
8	U40108TN2009PTC070786	Thirukkuvalai Energy Private LImited	Director	19/08/2010	18/06/2010	-	Strike off	NO
9	U45203TN2009PTC070495	Ankora Port Private Limited	Director	15/07/2010	18/06/2010	-	Strike off	NO
10	U72200PN2007PTC144349	M M Infoproc and Steel Services Private Limited	Director appointed in casual vacancy	04/07/2011	04/07/2011	-	Active	NO
11	U64201PN2006PTC144143	Lovyam Infrastructure and Trading Private Limited	Director appointed in casual vacancy	04/07/2011	04/07/2011	-	Active	NO
12	U51109PN2012PTC141879	TULIP STEEL TRADEX PRIVATE LIMITED	Director	06/01/2012	06/01/2012	30/01/2015	Active	NO
13	U51109PN2012PTC141893	Precision Merchandise Private Limited	Director	11/01/2012	11/01/2012	11/09/2012	Amalgamated	NO
14	U52190PN2012PTC142178	Nish Sales and Services Private Limited	Director	07/02/2012	07/02/2012	02/02/2015	Active	NO

Name :

Mr. Prabhakar Dhondiram Advant

Designation :

Director

Address :

38, Satyam Shivam Apartments, United Western Society, Karve Nagar, Pune – 411052, Maharashtra, India

Date of Birth/Age :

22.01.1956

Date of Appointment :

30.09.2014

DIN No.:

01853794

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	U23201PN1999PLC013753	INDIAN SEAMLESS POWER LIMITED	Additional director	31/08/2007	31/08/2007	12/04/2008	Active	NO
2	U99999MH1992PTC066468	RITU SYNDICATION SERVICES PRIVATE LIMITED	Director	30/09/2007	30/09/2007	12/04/2008	Amalgamated	NO
3	U29413PN1985PLC035413	INTEGRATED SYNDICATION SERVICES LIMITED	Director	30/09/2014	13/06/2014	-	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders (Equity)	No. of Shares
Seamless Syndication Services Private Limited, India	48498
Anant Deshmukh	1
Debdas G Guin	1
Pandurang D Ubhe	1
Upendra A Agashe	1
Shantaram S Ambaldhage	1
M M Infoproc Services Private Limited, India	2497
Global Tube and Steel Solutions Private Limited, India	49000
Total	100000

Names of Shareholders (Preference)	No. of Shares
Seamless Syndication Services Private Limited, India	500
M M Infoproc Services Private Limited, India	500
	1000

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	To undertake, transact and execute agency business for the purpose of collection/ recovery of dues such as bills, debtors, advances, of any company, firm, government agency, person or anybody corporate and to carry out all activities in connection with and related to, incidental for collection and recovery of dues.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

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 :

Information declined by the management.

Bankers :

Banker Name	ICICI Bank Limited
Branch Address	163, Backbay Reclamation, Mumbai – 400020, 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 :	D D KARVE and Company Chartered Accountants
Address :	Chintamani, Natu Baug 1876, Sadashiv Peth,Off Bajirao Road, Pune – 411030, Maharashtra, India
Tel. No.:	91-20-24486769
PAN No.:	ABRPK8645D
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
110000	Equity Shares	Rs.100/- each	Rs.11.000 Million
90000	Preference Shares	Rs.100/- each	Rs. 9.000 Million
	Total		Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs.10.000 Million
1000	Preference Shares	Rs.100/- each	Rs. 0.100 Million
	Total		Rs. 10.100 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	10.100	10.100	10.100
(b) Reserves & Surplus	(313.123)	(264.603)	(213.887)
(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)	(303.023)	(254.503)	(203.787)
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	221.104	338.163	349.035
(d) long-term provisions	0.947	0.746	0.570
Total Non-current Liabilities (3)	222.051	338.909	349.605
(4) Current Liabilities
(a) Short term borrowings	16.000	30.000	50.000
(b) Trade payables	0.004	0.000	1.475
(c) Other current liabilities	126.253	44.420	111.131
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	142.257	74.420	162.606
TOTAL	61.285	158.826	308.424
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13.192	15.015	15.681
(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	6.955	42.015	44.007
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	20.147	57.030	59.688
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	11.849	45.268	13.529
(d) Cash and cash equivalents	17.350	5.060	5.913
(e) Short-term loans and advances	1.785	24.353	205.017
(f) Other current assets	10.154	27.115	24.277
Total Current Assets	41.138	101.796	248.736
TOTAL	61.285	158.826	308.424

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	63.177	50.596	75.195
	Other Income	6.936	19.580	12.865
	TOTAL	70.113	70.176	88.060
Less	EXPENSES
	Cost of Materials Consumed	0.000	0.000	3.421
	Employees benefits expense	2.893	2.279	2.989
	Other expenses	37.900	28.534	23.796
	TOTAL	40.793	30.813	30.206
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	29.320	39.363	57.854
Less	FINANCIAL EXPENSES	74.705	87.013	86.129
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(45.385)	(47.650)	(28.275)
Less/ Add	DEPRECIATION/ AMORTISATION	3.134	3.066	3.383
	PROFIT/ (LOSS) BEFORE TAX	(48.519)	(50.716)	(31.658)
Less	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	(48.519)	(50.7160	(31.658)
	Earnings / (Loss) Per Share (Rs.)	(485.19)	(507.16)	(316.58)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(76.80)	(100.24)	(42.10)
Operating Profit Margin (PBDIT / Sales)	(%)	46.41	77.80	76.94
Return on Total Assets (PBT/Total Assets}	(%)	(89.30)	(43.42)	(11.97)
Return on Investment (ROI) (PBT/Networth)		0.16	0.20	0.16
Debt Equity Ratio (Total Debt /Networth)		(0.05)	(0.12)	(0.25)
Current Ratio (Current Asset/Current Liability)		0.29	1.37	1.53

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	10.100	10.100	10.100
Reserves & Surplus	(213.887)	(264.603)	(313.123)
Net worth	(203.787)	(254.503)	(303.023)
long-term borrowings	0.000	0.000	0.000
Short term borrowings	50.000	30.000	16.000
Total borrowings	50.000	30.000	16.000
Debt/Equity ratio	(0.245)	(0.118)	(0.053)

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	75.195	50.596	63.177
		(32.714)	24.866

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	75.195	50.596	63.177
Profit	(31.658)	(50.716)	(48.519)
	(42.10%)	(100.24%)	(76.80%)

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	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	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

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
From Other Parties	16.000	30.000
Total	16.000	30.000

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90086057	27/03/2002	38,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMIETED	269/270; DEVI HEIGHTS, SHANIWAR PETH, PUNE, Maharashtra, INDIA	-

* Date of charge modification

FIXED ASSETS

• Computer
• Vehicles
• Plant and Machinery
• Furniture and Fixture
• Building

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 :	PRT
Analysis Done by :	SAN
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	3
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		13

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.