MIRA INFORM REPORT

Report No. :	515098
Report Date :	23.06.2018

IDENTIFICATION DETAILS

Name :	DIGITAL INDIA PAYMENTS LIMITED [w.e.f.04.09.2015]
Formerly Known As :	GREEN INDIA AGROFOODS EXIM LIMITED
Registered Office :	Unit No. 518-535, F Wing, 5th Floor, Solaris I, Saki Vihar Road, Andheri East, Mumbai – 400072, Maharashtra
Tel. No.:	91-22-49051000
Country :	India
Financials (as on) :	31.03.2018 [Provisional]
Date of Incorporation :	13.11.2013
CIN No.: [Company Identification No.]	U72200MH2013PLC250051
Capital Investment / Paid-up Capital :	INR 20.568 Million
IEC No.: [Import-Export Code No.]	Not Applicable [As informed by the management that firm does not have export and import]
PAN No.: [Permanent Account No.]	AAFCG4020L
GSTN : [Goods & Service Tax Registration No.]	27AAFCG4020L1ZO
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	· Providing Money Transfers, Aadhar Enables Payments, E-Ticketing, Bill Payments, PAN Services, M-POS, etc. [Confirmed by Management] · Subject is engaged in business of banking, healthcare and E-Commerce. [Registered Activity]
No. of Employees :	220 [Approximately] [In Office: 203 and In Branch: 17]

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Digital India Payments Limited was incorporated in the year 2013. It is engaged in providing money transfers, aadhar enabled payment, E-ticketing, bill payments, M-POS and PAN services. For the financial year 2017, the company has achieved massive growth in its revenue as compared to the previous year but has incurred operational loss. The moderate financial profile of the company is marked by negative reserve base due to continuous operational loss. Rating gets constrained on account of limited business track record. Subject’s Customers (Friends tours & Travel, Sumriddhi Foundation and Shriram Enterprises) gave positive feedback about the subject and claimed that they are satisfied with subject’s services. Supplier (Mantra Softech India Private Limited) also gave positive feedback and they are satisfied with subject’s payment behaviour. Banker (RBL Bank) also gave positive feedback about the subject. Further, as per the provisional financials of FY2018, the company achieved decent revenue from its operations but has incurred operational loss. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings with some caution. NOTE: Site visit was conducted at the address which you have provided. Our executive has successfully traced the subject on the given address. At the premises, our executive met Ms. Hemangi Bodke (Senior Customer Experience Manager) who confirmed subject’s existence on the given address. As per our executive’s observation, it is 6 storey building and subject is situated on 5th floor. Area of the premises seems to 14,500 sq. ft. approx. and number of employees sighted at the premises were more than 60. Locality seems to be commercial and area appears to be neutral. Location was easy to find. We have sighted subject’s name board.

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

Country Name	Previous Rating (31.12.2017)	Current Rating (01.04.2018)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2018.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 23.06.2018.

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY

Name :	Mrs. Hemangi Bodke
Designation :	Senior Customer Experience Manager
Contact No.:	91-8356845459
Date :	21.06.2018
Name :	Mr. Rishabh Mehta
Designation :	Chief Finance Officer
Contact No.:	91-9820128729
Date :	21.06.2018

LOCATIONS

Registered/ Corporate Office :	Unit No. 518-535, F Wing, 5th Floor, Solaris I, Saki Vihar Road, Andheri East, Mumbai – 400072, Maharashtra, India
Tel. No.:	91-22-49051000
Mobile No.:	91-9820128729 [Mr. Rishabh Mehta] 91-8356845459 [Mr. Hemangi Bodke] 91-9820128729 [Mr. Rishabh Shailesh Shah] 91-9619486888 [Mr. Rakeshkumar Dineshkumar Mehta] 91-9987529950 [Mr. Hari Prasath Babu] 91-7045920644 [Mr. Santhosh Seetharaman] 91-9886043832 [Mr. Niranjan Dandey]
Fax No.:	Not Available
E-Mail :	cs@digitalindiapayments.com rishabh@digitalindiapayments.com prabhakar@digitalindiapayments.com hemangi@digitalindiapayments.com
Website :	http://digitalindiapayments.com
Area :	14500 Sq. Ft. [As per site visit]
Location :	Rented
Locality :	Commercial [As per site visit]
Branch Offices:	Located at: · Chennai [91-44-48578594] · Bangalore

DIRECTORS

AS ON: 31.03.2017

Name :

Mr. Rishabh Shailesh Shah

Designation :

Additional Director

Address :

A-101/102, Shri Satyadeep CHS Limited, Bindra Complex, Mahakali Caves Road, Near Sai Baba Mandir, Andheri East, Mumbai – 400093, Maharashtra, India

Date of Birth/Age :

01.12.1983

Qualification :

MBA

Experience :

9 Years

Date of Appointment :

01.12.2016

PAN No.:

AWPPS2323B

DIN No.:

02608505

Aadhar No.:

6593 7813 1697

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U74120MH2016PTC271976	DIGITAL INDIA WALLET PRIVATE LIMITED	14/08/2017	-
U80904MH2017NPL302346	HIGH ROCK HEALTH AND EDUCATION FOUNDATION	01/12/2017	-

Name :

Mr. Rakeshkumar Dineshkumar Mehta

Designation :

Director

Address :

2703/A, Shreepati, Jewels, Tatya Gharpure Path, Pimple Wadi, Behind V.P. Road, Police Station, Girgaon – 400004, Mumbai, Maharashtra, India

Date of Birth/Age :

14.08.1983

Qualification :

B.Com

Experience :

15 Years

Date of Appointment :

22.09.2016

PAN No.:

AGAPM3169L

DIN No.:

03487703

Aadhar No.:

2916 1987 4130

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U28133MH2011PTC218452	INDIAN METALLOY RECYCLERS PRIVATE LIMITED	08/06/2011	-

Name :

Mr. Niranjan Dandey

Designation :

Director

Address :

No 7, 2nd Floor, 3rd Shopline III Road, Main Road, Tata Silk Farm Basava Nagudi Bangalore - 560004, Karnataka, India

Date of Birth/Age :

29.04.1956

Qualification :

MBA

Experience :

25 Years

Date of Appointment :

12.10.2015

PAN No.:

AAHPN6972F

DIN No.:

07293025

Aadhar No.:

5621 2772 5620

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U72900KA2016PTC097694	PROMTOS TECHNOLOGIES PRIVATE LIMITED	09/11/2016	-
U72900KA2017PTC100474	RETIREGRAND TECHNOLOGIES PRIVATE LIMITED	13/02/2017	-
U74120MH2016PTC271976	DIGITAL INDIA WALLET PRIVATE LIMITED	12/01/2016	-

Name :

Mr. Hari Prasath Babu

Designation :

Managing Director

Address :

A-101/102, Shri Satyadeep CHS LTD, Bindra Complex, Mahakali Caves Road, Andheri (East), Mumbai - 400093, Maharashtra, India

Date of Birth/Age :

14.08.1977

Qualification :

MCA

Experience :

20 Years

Date of Appointment :

26.11.2015

PAN No.:

AJKPB5074C

DIN No.:

07333842

Aadhar No.:

7756 5719 7534

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U74120MH2016PTC271976	DIGITAL INDIA WALLET PRIVATE LIMITED	12/01/2016	-
U80904MH2017NPL302346	HIGH ROCK HEALTH AND EDUCATION FOUNDATION	01/12/2017	-

Name :

Mr. Santhosh Seetharaman

Designation :

Additional Director

Address :

L-1306 Snn Raj Lakeview 29th Main Road, Btm 2nd Stage, N S Palya, Bangalore - 560076, Karnataka, India

Date of Birth/Age :

23.12.1983

Qualification :

MSC IT

Experience :

10 Years

Date of Appointment :

12.07.2017

PAN No.:

BABPS7812L

DIN No.:

07874851

Aadhar No.:

5681 4716 4620

KEY EXECUTIVES

Name :	Mr. Rishabh Shailesh Shah
Designation :	Chief Finance Officer
Address :	A-101/102, Shri Satyadeep CHS Limited, Bindra Complex, Mahakali Caves Road, Near Sai Baba Mandir, Andheri East, Mumbai – 400093, Maharashtra, India
Date of Birth/Age :	01.12.1983
Qualification :	MBA
Experience :	9 Years
Date of Appointment :	02.02.2016
PAN No.:	AWPPS2323B
Aadhar No.:	6593 7813 1697
Name :	Mrs. Hemangi Bodke
Designation :	Senior Customer Experience Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2017

Names of Shareholders	No. of Shares
Hariprasath Babu	33101
Rishabh Shah	17099
Niranjan Dandey	2221
Dhanlakshmi	110
Rani and Satish Babu	221
M Srinivasulu	110
Roopa MS	33
Ambuja	22
Anajana	22
CK Ravindranath	44
Rakesh Mehta	552
Bhavesh Mehta	552
Dixit Mehta	552
Deepak Mehta	552
Raghvendran CG	55
Sachin	6
Chandrashekhar	22
Jamshid Naval Pandole	210
Kayan Jamshid	210
Heritage India Advisory Private Limited	132
Ameet Parikh	977
Total	56803

AS ON: 30.09.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters (Individual/Hindu Undivided Family - Indian)	88.38
Public/Other than promoters (Individual/Hindu Undivided Family - Indian)	11.62
Total	100.00

BUSINESS DETAILS

Line of Business :

· Providing Money Transfers, Aadhar Enables Payments, E-Ticketing, Bill Payments, PAN Services, M-POS, etc. [Confirmed by Management]

· Subject is engaged in business of banking, healthcare and E-Commerce. [Registered Activity]

Products :

ITC Code No.	Product Descriptions
99711400	Other financial services

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Others [RTGS/NEFT]

Purchasing :

Others [RTGS/NEFT]

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Mantra Softech India Private Limited
Name of the Person (Designation):	Mr. Lokesh [I-Techno Commercial Officer]
Contact Number:	91-8861004502
Since how long known:	2 Years
Maximum limit dealt:	--
Experience:	Payment Behaviour: Good Market Goodwill: Good Overall: Good
Remark	We spoke to Mr. Lokesh who gave us positive response about subject company.

Customers :

Retailers and Others [Shopkeepers, agents, Retired Personnel, etc.]

Reference:	Friends Tours and Travel
Name of the Person (Designation):	Mr. Gopal Nandan [Proprietor]
Contact Number:	91-9907445566
Since how long known:	1.5 Years
Maximum limit dealt:	--
Experience:	Product Quality: Good Delivery Behaviour: Good Overall: Good
Remark	We spoke to Mr. Gopal Nandan [Proprietor] who gave us positive response about subject company.

Reference:	Shriram Enterprises
Name of the Person (Designation):	Mr. Ravindra Pival [Proprietor]
Contact Number:	91-9011088551
Since how long known:	1 Year
Maximum limit dealt:	--
Experience:	Product Quality: Good Delivery Behaviour: Good Overall: Good
Remark	We spoke to Mr. Ravindra Pival [Proprietor] who gave us positive response about subject company.

Reference:	Sumriddhi Foundation
Name of the Person (Designation):	Mr. Mrinal Banerjee [Partner]
Contact Number:	91-9330938780
Since how long known:	2.5 Years
Maximum limit dealt:	--
Experience:	Product Quality: Good Delivery Behaviour: Good Overall: Good
Remark	We spoke to Mr. Mrinal Banerjee [Partner] who gave us positive response about subject company.

No. of Employees :

220 [Approximately] [In Office: 203 and In Branch: 17]

Bankers :

Bank Name:	RBL Bank Limited
Branch:	Fort, Mumbai, Maharashtra, India
Person Name (with Designation):	Ms. Moon Jain [Deputy Vice President]
Contact Number:	91-9920061710
Name of Account Holder:	DIGITAL INDIA PAYMENT LIMITED
Account Number:	409000540536/ 409000562565/ 409000726303
Account Since (Date/ Year of A/c Opening):	December 2016
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	Ms. Moon Jain [Deputy Vice President] that they have overall good banking relationship with Digital India Payment Limited.

Bank Name:	ICICI Bank Limited
Branch:	Fort, Mumbai, Maharashtra, India
Person Name (with Designation):	Mr. Sandipan Banerjee [Account Manager]
Contact Number:	91-8433939074
Name of Account Holder:	DIGITAL INDIA PAYMENT LIMITED
Account Number:	039305008825
Account Since (Date/ Year of A/c Opening):	December 2016
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	We spoke to Mr. Sandipan (Manager) who gave us positive response about subject company they are satisfied with their banking transaction.

Auditors :
Name :	Ranjan Periwal and Company Chartered Accountants
Address :	F-25, Sej Plaza, Marve Road, Malad (West), Mumbai – 400064, Maharashtra, India
Tel. No.:	91-22-40038984
E-Mail :	cityfirst@cffa.in
Income-tax PAN of auditor or auditor's firm :	AOPPP1872A
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary Company:	Digital India Wallet Private Limited [U74120MH2016PTC271976]

CAPITAL STRUCTURE

AS ON 31.03.2018 [PROVISIONAL]

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : INR 20.568 Million

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	INR 10/- each	INR 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
56803	Equity Shares	INR 10/- each	INR 0.568 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2018 [Provisional]
SHAREHOLDERS FUNDS
1] Share Capital		20.568
2] Share Application Money		46.000
3] Reserves & Surplus		21.377
4] Discount		0.009
5] Profit and Loss Account		(80.666)
NETWORTH		7.288
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		10.000
TOTAL BORROWING		10.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		17.288
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.803
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.575
	Sundry Debtors	1.454
	Cash & Bank Balances	76.011
	Other Current Assets	16.551
	Loans & Advances	0.021
Total Current Assets		95.612
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.943
	Other Current Liabilities	57.862
	Provisions	13.433
Total Current Liabilities		82.238
Net Current Assets		13.374
MISCELLANEOUS EXPENSES		0.111
TOTAL		17.288

SOURCES OF FUNDS	31.03.2017	31.03.2016
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.568	0.527
(b) Reserves & Surplus	(0.159)	(0.684)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	1.525
Total Shareholders’ Funds (1) + (2)	0.409	1.368
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	1.000
(b) Trade payables	0.450	0.078
(c) Other current liabilities	12.529	1.522
(d) Short-term provisions	3.025	0.962
Total Current Liabilities (4)	16.004	3.562
TOTAL	16.413	4.930
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.041	0.383
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.011	0.008
(d) Long-term Loan and Advances	0.818	1.482
(e) Other Non-current assets	0.051	0.051
Total Non-Current Assets	1.921	1.924
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1.391	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	12.517	2.162
(e) Short-term loans and advances	0.584	0.844
(f) Other current assets	0.000	0.000
Total Current Assets	14.492	3.006
TOTAL	16.413	4.930

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2018 [Provisional]
	SALES
		Sales	72.824
		Other Income	36.939
		TOTAL	109.763
Less	EXPENSES
		Cost of Goods Sold	9.937
		Direct Expenses
		Commission – AEPS txns	13.040
		Commission – Distributor	9.078
		Commission – Sign up	0.373
		Wallet charges – Pay team	0.002
		Indirect Expenses
		Business promotion expenses	0.350
		Consultancy charges	0.703
		Conveyance	8.219
		Electricity expenses	1.046
		Food and refreshments expenses	0.324
		Hotel and accommodation expenses	0.355
		Housekeeping expenses	0.293
		Incentive to DMT agent	0.112
		Integrating charges	1.000
		Legal expenses	1.406
		Office expenses	0.539
		Office maintenance	0.234
		Postage and couriers charges	0.101
		Printing and stationery	0.451
		Prior period expenses	0.323
		Professional fees	6.319
		Recruitment charges	0.847
		Registration and renewals	0.222
		Rent – office premises	5.038
		Repairs and maintenance	0.568
		Salaries	82.501
		Security charges	0.268
		Software maintainance charges	5.144
		Staff welfare expenses	0.265
		Stamp duty and registration	0.207
		Telephone, cellphone and internet charges	0.604
		Travelling expenses	0.304
		Website design and log design expenses	0.322
		Other indirect expenses	0.199
		TOTAL	150.694
	PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION		(40.931)
Less	FINANCIAL EXPENSES		18.196
	PROFIT / (LOSS) BEFORE, DEPRECIATION AND AMORTISATION		(59.127)
Less/ Add	DEPRECIATION/ AMORTISATION		0.000
	NET PROFIT/ (LOSS)		(59.127)

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Revenue from Operations	14.093	0.685
		Other Income	0.001	0.004
		TOTAL	14.094	0.689
Less	EXPENSES
		Purchases of Stock-in-Trade	1.951	0.000
		Changes in inventories	(1.391)	0.000
		Employees benefits expense	15.287	2.295
		Other expenses	16.538	1.227
		TOTAL	32.385	3.522
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(18.291)	(2.833)
Less	FINANCIAL EXPENSES		0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		(18.291)	(2.833)
Less/ Add	DEPRECIATION/ AMORTISATION		0.365	0.055
	PROFIT BEFORE TAX		(18.656)	(2.888)
Less	TAX		(0.003)	(0.009)
	PROFIT AFTER TAX		(18.653)	(2.879)
	Earnings Per Share (INR)		(328.39)	(54.65)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2018 [Provisional]	31.03.2017	31.03.2016
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	(5.539)	(1.774)
Net Cash flow from/ (used in) Operating Activities	NA	(5.539)	(1.774)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2018 [Provisional]	31.03.2017	31.03.2016
Average Collection Days (Sundry Debtors / Income * 365 Days)	7.29	0.00	0.00
Account Receivables Turnover (Income / Sundry Debtors)	50.09	0.00	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	401.95	84.19	0.00
Inventory Turnover (Operating Income / Inventories)	(25.99)	(13.15)	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	(10.76)	(17.57)	(7.40)

LEVERAGE RATIOS

PARTICULARS	31.03.2018 [Provisional]	31.03.2017	31.03.2016
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.93	0.98	0.72
Debt Equity Ratio (Total Liability / Networth)	1.37	0.00	0.73
Current Liabilities to Networth (Current Liabilities / Net Worth)	12.66	39.13	2.60
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.52	2.55	0.28
Interest Coverage Ratio (PBIT / Financial Charges)	(2.25)	0.00	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2018 [Provisional]	31.03.2017	31.03.2016
Net Profit Margin ((PAT / Sales) * 100)	%	(81.19)	(132.36)	(420.29)
Return on Total Assets ((PAT / Total Assets) * 100)	%	(59.41)	(113.65)	(58.40)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(811.29)	(4560.64)	(210.45)

SOLVENCY RATIOS

PARTICULARS	31.03.2018 [Provisional]	31.03.2017	31.03.2016
Current Ratio (Current Assets / Current Liabilities)	1.04	0.91	0.84
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.02	0.82	0.84
G-Score Ratio Financial (Networth / Total Assets)	0.07	0.02	0.28
G-Score Ratio Debt (Debts / Equity Capital)	0.49	0.00	1.90
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.04	0.91	0.84

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particulars	31.03.2016	31.03.2017	31.03.2018 [Provisional]
	INR In Million	INR In Million	INR In Million
Share Capital	0.527	0.568	20.568
Reserves & Surplus	(0.684)	(0.159)	21.377
Discount	0.000	0.000	0.009
Profit and Loss Account	0.000	0.000	(80.666)
Share Application money pending allotment	1.525	0.000	46.000
Net worth	1.368	0.409	87.954
Secured Loans	0.000	0.000	0.000
Unscored Loans	1.000	0.000	10.000
Total borrowings	1.000	0.000	10.000
Debt/Equity ratio	0.731	0.000	0.114

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017	31.03.2018 [Provisional]
	INR In Million	INR In Million	INR In Million
Sales	0.685	14.093	72.824
		1,957.372	416.739

NET PROFIT MARGIN

Net Profit Margin	31.03.2016	31.03.2017	31.03.2018 [Provisional]
	INR In Million	INR In Million	INR In Million
Sales	0.685	14.093	72.824
Profit/(Loss)	(2.879)	(18.653)	(59.127)
	(420.29%)	(132.36%)	(81.19%)

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 [As per site visit]	Yes
5	Buyer visit details	Yes
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	Yes
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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	Yes
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

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OBSERVATION POINTS

Name of Company :	DIGITAL INDIA PAYMENTS LIMITED
Address :	Unit No. 518-535, F Wing, 5th Floor, Solaris I, Saki Vihar Road, Andheri East, Mumbai – 400072, Maharashtra, India
Contact No.:	91-9819247322 Email: hemangi@digitindsapayments.com
Person to whom we met:	Mrs. Hemangi [Senior Customer Experience Manager]
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	Opposite L & T, Gate 6
Total Floors of the Building :	6 Floors
Subject situated on:	5^th Floor
Locality:	Commercial
Area of Premises :	14500 Sq. Ft.
Area :	Neutral
No. of employees seen at premises:	60 [Approx.]
Visibility of Items:	· Telephone · Computers · Air Conditioner · Office Equipment · Xerox Machine
Proof of visit:	Photos and Visiting Card

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UNSECURED LOANS

PARTICULARS	31.03.2018 [Provisional] (INR In Million)	31.03.2017 (INR In Million)
LONG-TERM BORROWINGS
From Loans	10.000	0.000
Total	10.000	0.000

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COMPANY PROFILE

DIPL’s Vision is to reach people from every walk of life, and provide them easy transaction solution in banking and e-commerce.

Digital India Payment Limited (DIPL) was incorporated on 13th November 2013.

Digital India Payments Limited Regional office was launched in December 2016 at Bangalore.

They AIM to bring digitization and convenience and provide ample opportunities to people in the form of employment and entrepreneurship.

There tailor made solutions, touches the Urban and Rural population, ensuring transactions involving banking and commerce are made with ease and efficiency.

CORPORATE INFORMATION

Digital India Payment Limited formally known as Green India Agrofoods Exim Limited is a private limited company domiciled in India and incorporated under the provisions of companies Act, 2013 on 13^th November, 2013. The company is engaged in business of banking, healthcare and E-Commerce.

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INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY

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FIXED ASSETS:

· Office Equipment

· Furniture and fixture

· Computer

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 records 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	INR
US Dollar	1	INR 67.77
UK Pound	1	INR 89.96
Euro	1	INR 78.86

INFORMATION DETAILS

Information Gathered by :	SWT
Analysis Done by :	PRY
Report Prepared by :	ARC

SCORE FACTORS

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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.