MIRA INFORM REPORT

Report No. :	493477.2
Report Date :	08.03.2018

IDENTIFICATION DETAILS

Name :	NETSYS TECHNOLOGIES
Registered Office :	337 Criper Road, 1^st Floor, Flat - B2, Konnagar, Hooghly – 712235, West Bengal
Tel. No.:	91-33-26741084
Country :	India
Financials (as on) :	31.03.2017
Year of Establishment:	2009
Capital Investment / Paid-up Capital :	INR 2.938 Million
TIN No.:	Not Available
IEC No.: [Import-Export Code No.]	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAHFN3552F
GSTIN : [Goods & Service Tax Registration No.]	19AAHFN3552F1Z8
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Provider of CCTV Networking Services and Computer Networking Services. (Confirmed by management)
No. of Employees :	12 (Approximately)

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

Maximum Credit Limit :	USD 8400 (In INR 546378.00)
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Netsys Technologies is a provider of CCTV networking services and computer networking services. The concern was started in the year 2009 and is based in Hooghly, West Bengal. It is an established partnership concern having moderate track record. For the financial year ended 2017, the concern has achieved fair revenue of INR 14.519 million and reported profit margin at 0.87% (approx.). Rating is constrained on account of moderate net worth base, low profit margin and concern’s small scale of business operations. However, rating weakness is partially offset by low debt level of the concern. Trade relations are reported as fair. Business is active. Payment terms are seems to be slow but correct. In view of aforesaid, the concern can be considered for business dealings with some caution. Site visit was conducted at the address which you have provided. Our executive has successfully traced the concern at the given address but door of the premises was found locked Our executive enquired with the neighbour Mr. Agamony Dey who claimed that subject was existing at the given premises but from 2012 the door is locked and they don’t have any idea of the subject. Further, our executive contacted on the numbers provided i.e., 987433318/17 but 1st no. was switched off and 2nd number was continuously ringing As per our executive observation, it is a four storey building and concern is located on the first floor of the building. Locality of the premises appears to be residential cum commercial, area seems to be neutral. Name board of the concern was sighted at the given premises. After the site visit our executive again contacted on the numbers 987433318/17 and had a word with Mr. Anindya Das Biswas (Partner) he claimed that given address is registered address but remain closed and activity is conducted from address i.e., (38/2, Mohim Halder street, 2nd Floor Hazra, Kolkata-700026, West Bengal, India) which is concern operative address. Our executive asked Mr. Anindya Das Biswas (Partner) to conduct site visit for new address but he strictly denied for the visit. Previously when we contacted to Mr. Anindya Das (Partner) he only provided registered address and didn’t provide operative address.

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 (30.09.2017)	Current Rating (31.12.2017)
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

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 31-03-2016.

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 08.03.2018

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 :	Mr. Anindya Das Biswas
Designation :	Partner
Contact No.:	91-9874333318
Date :	21.02.2018

LOCATIONS

Registered Office :	337 Criper Road, 1^st Floor, Flat - B2, Konnagar, Hooghly – 712235, West Bengal, India
Tel. No.:	91-33-26741084
Mobile No.:	91-9874333318 / 9874033317 (Mr. Anindya Das Biswas)
Fax No.:	Not Available
E-Mail :	support@netsysindia.in sales@netsysindia.in
Website :	www.netsysindia.in
Location :	Owned
Locality :	Residential Cum Commercial
Branch Offices :	Patna Guwahati

PARTNERS

Name :	Mr. Anindya Das Biswas
Designation :	Partner
Name :	Mr. Sameer Kumar
Designation :	Partner

BUSINESS DETAILS

Line of Business :	Provider of CCTV Networking Services and Computer Networking Services. (Confirmed by management)
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cheque
Purchasing :	Cheque

GENERAL INFORMATION

Suppliers :

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

Customers :

Retailers

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

No. of Employees :

12 (Approximately)

Bankers :

Bank Name	Axis Bank
Branch	Kolkata, West Bengal, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	Current Account
Account Operation	--
Remarks (If any)	Denied to provide full address.

Auditors :
Name :	D. S. Associates Chartered Accountants
Membership No.:	053149
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern:	Not Available

CAPITAL STRUCTURE

As on 31.03.2017

Capital Account	Amount in Million
Anindya Das Biswas
As per last A/C	1.239
Add :
Investment	0.100
Remuneration	0.208
Net Profit	0.064
Interest on FD	0.008
Samir Kumar Datta
As per last A/C	1.239
Add :
Investment	0.100
Remuneration	0.208
Net Profit	0.064
Interest on FD	0.008
Less : Drawing	(0.150)
Total	2.938

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2017
SHAREHOLDERS FUNDS
1] Partner’s Capital		2.938
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
04] (Accumulated Losses)		0.000
NETWORTH		2.938
LOAN FUNDS
1] Secured Loans		0.984
2] Unsecured Loans		0.000
TOTAL BORROWING		0.984
DEFERRED TAX LIABILITIES		0.000
TOTAL		3.922
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.013
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.231
	Sundry Debtors	0.285
	Cash & Bank Balances	0.380
	Other Current Assets	0.038
	Loans & Advances	0.200
Total Current Assets		4.134
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.225
	Provisions	0.000
Total Current Liabilities		0.225
Net Current Assets		3.909
MISCELLANEOUS EXPENSES		0.000
TOTAL		3.922

PROFIT & LOSS ACCOUNT

Particulars	31.03.2016
Sales Turnover (Approximately)	10.000

	PARTICULARS	31.03.2017
	SALES
	Income	14.519
	Other Income	0.887
	TOTAL	15.406
Less	EXPENSES
	Cost of Materials Consumed	13.399
	Wages	0.302
	Freight	0.018
	Stores	0.003
	Salary and Bonus	0.246
	Rent	0.360
	Power and fuel	0.016
	Staff Welfare	0.005
	Commission	0.007
	Accounting Charges	0.006
	Audit Fees	0.006
	Value Added Tax	0.373
	Entry Tax	0.015
	Interest on VAT and CST	0.012
	Sales Promotion	0.007
	Conveyance	0.017
	Telephone Charges	0.008
	Electric Charges	0.015
	Puja expense	0.005
	General Expense	0.022
	Partner’s Remuneration
	Anindya Das Biswas	0.208
	Samir Kumar Datta	0.208
	TOTAL	15.258
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.148
Less	FINANCIAL EXPENSES	0.015
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.133
Less/ Add	DEPRECIATION/ AMORTISATION	0.006
	PROFIT/ (LOSS) BEFORE TAX	0.127

Expected Sales (2017-2018) : INR 20.000 Million (Approximately) (Due to Business growth)

The above information has been parted by Mr. Anindya Das Biswas (Partner)

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	7.16
Account Receivables Turnover (Income / Sundry Debtors)	50.94
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00
Inventory Turnover (Operating Income / Inventories)	0.05
Asset Turnover (Operating Income / Net Fixed Assets)	11.38

LEVERAGE RATIOS

PARTICULARS	31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.29
Debt Equity Ratio (Total Liability / Networth)	0.33
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.08
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.00
Interest Coverage Ratio (PBIT / Financial Charges)	9.87

PROFITABILITY RATIOS

PARTICULARS		31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	0.87
Return on Total Assets ((PAT / Total Assets) * 100)	%	3.06
Return on Investment (ROI) ((PAT / Networth) * 100)	%	4.32

SOLVENCY RATIOS

PARTICULARS	31.03.2017
Current Ratio (Current Assets / Current Liabilities)	18.37
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	4.01
G-Score Ratio Financial (Networth / Total Assets)	0.71
G-Score Ratio Debt (Debts / Equity Capital)	0.33
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	18.37

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2016	31.03.2017
	INR In Million	INR In Million
Sales	10.000	14.519
		45.190

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 – Legal Form	Yes
3	Locality of the entity	Yes
4	Premises details	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	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
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	Yes
26	Turnover of firm for last two years	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one years	Yes
30	Major shareholders, if available	No
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

OBSERVATION FORM

COMPANY NAME: NETSYS TECHNOLOGIES

ADDRESS: 337 CRIPER ROAD, 1^ST FLOOR, FLAT - B2, KONNAGAR, HOOGHLY – 712235, WEST BENGAL, INDIA

PERSON TO WHOM WE MET: MR. AGAMONY DEY

NAME BOARD: SIGHTED

LOCATION: EASY

LANDMARK (IF ANY): OPPOSITE KONNAGAR

TOTAL FLOORS OF THE BUILDING: 4

SUBJECT SITUATED ON : 1^ST FLOOR

LOCALITY: RESIDENTIAL CUM COMMERCIAL

AREA: NEUTRAL

PROOF OF VISIT: PHOTOGRAPH

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 64.53
UK Pound	1	INR 90.13
Euro	1	INR 79.86

INFORMATION DETAILS

Information Gathered by :	SHAL
Analysis Done by :	DIV
Report Prepared by :	KJL

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	NO
--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.