MIRA INFORM REPORT

Report Date :

05.02.2008

IDENTIFICATION DETAILS

Name :	GVK BIOSCIENCES PRIVATE LIMITED
Registered Office :	# 210, My Home Tycoon 6-3-1192, Kundanbagh, Begumpet, Hyderabad-500016, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2007
Date of Incorporation :	01-35826
Com. Reg. No.:	07.12.2000
CIN No.: [Company Identification No.]	U74999AP2000PTC035826
TAN No.: [Tax Deduction & Collection Account No.]	HYDG00774E
PAN No.: [Permanent Account No.]	AABCG3208J
Legal Form :	Private Limited Liability Company
Line of Business :	Provide contract research services to base of global pharmaceutical and biotechnology companies.

RATING & COMMENTS

MIRA’s Rating :

A

RATING			STATUS		PROPOSED CREDIT LINE
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
	Maximum Credit Limit :			USD 2197000
	Status :			Good
	Payment Behaviour :			Regular
	Litigation :			Clear
	Comments :			Subject is a well-established and reputed company having satisfactory track. Directors are reported as experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

LOCATIONS

Registered / Corporate Office :	# 210, My Home Tycoon 6-3-1192, Kundanbagh, Begumpet, Hyderabad-500016, Andhra Pradesh, India
Tel. No.:	91-40-6661 9990 / 27902663 / 27902664 / 55519990 /66929999
Fax No.:	91-40-6662 6885 / 27902665 / 55626885/66929900
E-Mail :	gvkbio@gvk.com rajesh@gvkbio.com compliances@gvkbio.com info@gvkbio.com
Websites:	http://www.gvkbio.com
Administrative Offices :	7^th Floor, Swarna Jayanthi Commercial Complex, Ameerpeet, Hyderabad – 540 038, Andhra Pradesh, India
Tel No:	91-40-66628888 / 66635555
Branches :	GVK Biosciences Private Limited 5457 Twin Knolls Road, Suite 10, Columbia, MD 21045
Tel. No.:	1 443 542 5805
Fax No.:	1 443 542 5801 / (703) 940 4088
Regional offices:	Medicinal Chemistry Division, (NRM-I) Plot No. 28 A, Street No. 15 IDA Nacharam, Hyderabad- 500 076 Phone No.: +91-40-66281111 Fax No.: +91-40-2715 2999 Medicinal Chemistry - IKP GVK Biosciences Private Limited ICICI Knowledge Park Turkapally, Shameerpet Ranga Reddy District-500 078 Phone No: +91 40 23480060 Phone No: +91 40 23480080 Medicinal Chemistry – NRM II GVK Biosciences Private Limited Plot No. 28 A, Street No. 15 IDA Nacharam, Hyderabad- 500 076 Phone No: +91 40 66281111 Fax No: +91-40-2715 5522 Medicinal Chemistry – NRM II GVK Biosciences Private Limited Plot No. 28 A, Street No. 15 IDA Nacharam, Hyderabad- 500 076 Phone No: +91 40 66281111 Fax No: +91-40-2715 5522 Informatics – Chennai GVK Biosciences Private Limited 2nd Floor, Vukan Towers Door # 81, Old No: 36 Tirumalai Pillai Road (Off.G N road) T.Nagar Chennai – 600 017 Phone No: 044 42125522 Fax No: 044 42123399 Clinical Operations & Data Management GVK Biosciences Private Limited 510 – 511, JMD Pacific Square 32nd Milestone Sector 15, Part II Gurgaon – 122 001, Haryana (India) Phone No: 91 0124 4324000 Fax No: 91 0124 4324001 Medicinal Chemistry – Uppal GVK Biosciences Private Limited Plot No.5C IDA Uppal, Uppal Hyderabad-500 039 Phone No: +91 40 27206777 Fax No. 27208866 Medicinal Chemistry – NRM III GVK Biosciences Private Limited Plot No. 28 A, Street No. 15 IDA Nacharam, Hyderabad- 500 076 Phone No.: +91-40-6628 1234 Fax No.: +91-40-6628 1505 Informatics - Hyderabad GVK Biosciences Private Limited S-1, Phase-1, Technocrafts Industrial Estate Balanagar Hyderabad 500 037 Phone No: +91 40 23721001 Fax No: +91 40 23721010 Clinical Pharmacology GVK Biosciences Private Limited 7th floor Swarna jayanthi Commercial Complex Ameerpet, Hyderabad 500 016 Phone # 66628888 Phone No: 91 40 66628888 Fax No: 91 40 66622655 Biology – NRM I GVK Biosciences Private Limited Plot No. 28 A, Street No. 15 IDA Nacharam, Hyderabad- 500 076 Phone No.: +91-40-6450 2372 Fax No.: +91-40-2717 2131

DIRECTORS

Name :	Mr. Davinder Singh Brar
Designation :	Chairman
Name :	Mr. G. V. Sanjay Reddy
Designation :	Director
Address :	H No.6-3-1089/A/5, Rajbhavan Road, Somaji Guda, Hyderabad-500482, Andhra Pradesh, India
Date of Birth/Age :	16.11.1964
Date of Appointment :	07.12.2000
Name :	Mr. Somanadri Bhupal
Designation :	Director
Address :	H No.6-3-250, Road No.1, Banjara Hills, Hyderabad 500034, Andhra Pradesh, India
Date of Birth/Age :	17.01.1956
Date of Appointment :	07.12.2000
Name :	Mr. G. V. Krishna Reddy
Designation :	Director
Address :	H No.6-3-250, Road No.1, Banjara Hills, Hyderabad-500034, Andhra Pradesh, India
Date of Birth/Age :	22.03.1937
Date of Appointment :	07.06.2002
Name :	Mr. G. Indira K Reddy
Designation :	Director
Address :	H No.6-3-250, Road No.1, Banjara Hills, Hyderabad-500034, Andhra Pradesh, India
Date of Birth/Age :	17.10.1944
Date of Appointment :	07.06.2002
Name :	Mr. Sandeep Singhal
Designation :	Director
Address :	C -76, Diamond District, Air Port Road, Bangalore – 560 017, Karnataka, India
Date of Birth/Age :	31.12.1969
Date of Appointment :	08.11.2007
Name :	Mr., Krishna Reddy Venkata Gunapati
Designation :	Director
Address :	H No.6-3-250, Road No.1, Banjara Hills, Hyderabad-500034, Andhra Pradesh, India
Date of Birth/Age :	22.03.1937
Date of Appointment :	07.06.2002

KEY EXECUTIVES

Name :	Mr. G. Rajesh
Designation :	Company Secretary
Address :	206, Arvind Vihar Apartments, Arvind Nagar Colony, Gaganmahal, Hyderabad-500029, Andhra Pradesh
Date of Birth/Age :	28.11.1974
Date of Appointment :	01.04.2002

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	Percentage of Holding
GVK Dvavix Technologies Private Limited	1979600

Equity Shares Breakup (Percentage of Total Equity):

Sr No.	Category	Percentage
1	Bodies Corporate	71.14
2	Directors or relative of directors	28.86
	Total	100.00

BUSINESS DETAILS

Line of Business :

Provide contract research services to base of global pharmaceutical and biotechnology companies. It also engaged in Clinical Pharmacology, Medicinal Chemistry and Research Services.

GENERAL INFORMATION

No. of Employees :	About 500
Bankers :	v Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai-400021, Maharashtra, India (w.ef.29.01.2001) v Canara Bank, Industrial Finance Branch, S P Road, Secunderabad-500003 v YES Bank Limited Address: 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India v ICICI Bank Limited v Rabo Bank, Singapore
Banking Relations :	Satisfactory
Auditors :
Name 1 :	Brahmayya & Company Chartered Accountants Contact Person : Mr. Koteswara Rao SSR
Address :	403-404, Golden Green Apartments, Erramanzil Colony, Hyderabad - 500082, Andhra Pradesh, India
Tel. No. :	91-40-23370002 / 23370004
Fax No. :	91-40-23379988
Name 2:	Mr. Kotesswara Rao SSR Chartered Accountants
Address :	403, 404 Golden Green Apartments, Erramanzil Colony, Hyderabad – 500 082, Andhra Pradesh , India
Associates :	· Orbit Travel & Tours Private Limited · Taj GVK Hotels & Resorts Limited · GVK David Research Technologies Private Limited · Inogent Laboratories Private Limited · GVK Davix Technologies Private Limited
Holding Company :	· GVK Davix Technologies Private Limited

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs.200.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		150.000	35.000	15.202
2] Share Application Money		0.000	25.000	0.002
3] Reserves & Surplus		399.086	222.003	78.198
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		549.086	282.003	93.402
LOAN FUNDS
1] Secured Loans		0.000	407.157	186.046
2] Unsecured Loans		639.661	15.000	0.000
TOTAL BORROWING		639.661	422.157	186.046
DEFERRED TAX LIABILITIES		0.000	0.000	17.753
TOTAL		1188.747	704.160	297.201
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		743.878	421.153	224.748
Capital work-in-progress		99.672	10.324	0.000
INVESTMENT		34.800	29.005	0.005
DEFERREX TAX ASSETS		36.111	17.695	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	19.612	33.325	18.381
	Sundry Debtors	348.588	130.665	66.962
	Cash & Bank Balances	20.076	22.093	5.236
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	147.776	161.062	36.001
Total Current Assets		536.052	347.145	126.580
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	247.088	119.658	60.208
	Provisions	19.019	8.983	5.008
Total Current Liabilities		266.107	128.641	65.216
Net Current Assets		269.945	218.504	69.364
MISCELLANEOUS EXPENSES		4.341	7.479	11.084
TOTAL		1188.747	704.160	297.201

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2007	31.03.2006	31.03.2005
Sales Turnover		1205.182	726.446	296.492
Other Income		30.197	3.121	7.517
Total Income		1235.379	729.567	304.009
Profit/(Loss) Before Tax		230.489	111.822	82.280
Provision for Taxation		14.143	[31.984]	20.157
Profit/(Loss) After Tax		244.632	143.806	62.123
Imports :
	Raw Materials		0.000	0.000
	Stores & Spares		0.000	0.000
	Capital Goods	309.966	190.194	92.954
	Others		71.057	34.634
Total Imports		309.966	261.251	127.588
Export Value		921.735	555.437	206.058
Expenditures :
	Financial Charges	53.241	24.209	64.342
	Depreciation & Amortization	102.847	59.390	19.008
	Other Expenditure	692.714	450.547	55.029
Total Expenditure		848.802	534.146	138.379

KEY RATIOS

PARTICULARS		31.03.2007	31.03.2006	31.03.2005
PAT / Total Income	(%)	19.80	19.71	20.43
Net Profit Margin (PBT/Sales)	(%)	19.12	15.32	27.75
Return on Total Assets (PBT/Total Assets}	(%)	16.70	14.55	23.41
Return on Investment (ROI) (PBT/Networth)		0.41	0.39	0.13
Debt Equity Ratio (Total Liability/Networth)		1.64	1.95	2.69
Current Ratio (Current Asset/Current Liability)		2.01	2.69	1.94

LOCAL AGENCY FURTHER INFORMATION

Form 8 Particular for creation or modification of charges

Name of the company	GVK BIOSCIENCES PRIVATE LIMITED
Presented By	Mr. Rajesh G Company Secretary
1) Date and description of instrument creating the change	Common hypothecation agreement dated 06.09.2004.
2) Amount secured by the charge/amount owing on the securities of charge	Term Loan of Rs.205.800 millions with a sub limit for LC Rs.80.000 millions, OCC/ODBD limit of Rs.25.000 millions with a sublimit for Letter of Credit.
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	For term loan – First charge on fixed assets movable and immovable existing and proposed to be acquired under loan including EMT of the two landed properties proposed to be purchased at Bangalore and Hyderabad. Second charge on stocks and receivables. For working capital limits – First charge on stocks and receivable and second charge on fixed assets present and future.
4) Gist of the terms and conditions and extent and operation of the charge.	Term loan repayable in 60 equal monthly installments as detailed in Canara Bank Sanction letter at an interest rate of 7% per annum. Working capital limit with a interest rate of 8% per annum.
5) Name and Address and description of the person entitled to the charge.	Canara Bank, Industrial Finance Branch, S P Road, Secunderabad-500003.
6) Date and brief description of instrument modifying the charge	Counter Indemnity for Bank Guarantee dated 28.09.2004
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Bank guarantee of Rs. 5.000 millions is sanctioned. There is no change in the limits as well as all other terms and conditions.

Corporation identity number or foreign company registrations number of the company	U74999AP2000PTC035826
Name of the company	GVK BIOSCIENCES PRIVATE LIMITED
Address	# 210, My Home Tycoon 6-3-1192, Kundanbagh, Begumpet, Hyderabad-500016, Andhra Pradesh, India
This Form is for	Creation of Charge
Type of Charges	· Book debts · Movable Property · Others
Particular of the charge holder	Yes Bank Limited Address: 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India Email : creditadmin@yesbank.in
Nature or description of the instrument creating charge	· Deed of hypothecation · Loan Agreement · Facility Letter
Date of the instrument creating charge	31.03.2007
Amount Secure by the charge	Rs. 75.000 millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of Interest: Rate to be fixed by the bank from time to time. Terms of repayment: Minimum 15 days and maximum of 90 days from the date of drawdown. Availability period : 12 months Repayment: Bullet at the end of the tenor. Margin: Not Applicable Extent and operation of the charge: First Pari passu Charge on whole of the Current assets both present and future Second Pari Passu charge on whole of the Movable Fixed Assets of the Company.
Short particulars of the Property charged	First Pari passu Charge on whole of the Current assets of the Company stock of raw materials, semi finished goods and finished goods, stores and spares including relating to plant and machinery, Bill receivables and book debts and all other receivables and movables, both present and future Second Pari Passu charge on whole of the Movable Fixed Assets of the Company including Plant and Machinery at Hyderabad.

Name of the company

GVK BIOSCIENCES PRIVATE LIMITED

Presented By

MR. G V SANJAY REDDY, DIRECTOR

1) Date and description of instrument creating the change

Common hypothecation agreement dated 06.09.2004.

2) Amount secured by the charge/amount owing on the securities of charge

Term Loan of Rs.205.800 millions with a sub limit of FLC Rs.80.000 millions and FLC (Documentary) Rs.5.000 millions and OCC/ODBD limit of Rs.25.000 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

For term loan – First charge on fixed assets movable and immovable existing and proposed to be acquired under loan including EMT of the two landed properties proposed to be purchased at Bangalore and Hyderabad.

Second charge on stocks and receivables.

For working capital limits – First charge on stocks and receivable sand second charge on fixed assets present and future.

4) Gist of the terms and conditions and extent and operation of the charge.

Term loan repayable in 60 equal monthly installments as detailed in Canara Bank Sanction letter at an interest rate of 7% per annum.

Working capital limit with a interest rate of 8% per annum.

5) Name and Address and description of the person entitled to the charge.

Canara Bank, Industrial Finance Branch,

S P Road, Secunderabad-500003.

6) Date and brief description of instrument modifying the charge

Supplemental common hypothecation agreement dated 15.07.2005.

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

(Amount in millions)

Nature of Facility	Existing Limits	Modified/ enhanced limits
	(in millions)
Cash Credit	25.000	60.000
Letter of Credit	5.000	Nil
Bank Guarantee	5.000	5.000
Term Loan	205.800	205.800
Term Loan (Additional)	Nil	300.000
Total	240.800	570.800

The term loan is to be repaid in 60 monthly installments.

The rate of interest for OCC. Term Loan and Additional term loan is 8% per annum.

Prime Security :

For working capital limits – First charge on stock and book debts.

For existing term loan – First charge on fixed assets movable and immovable properties of the company WDV as at 31.03.2005 Rs.243.081 millions.

For additional term loan – First charge on proposed fixed assets estimated to cost Rs.403.267 millions.

Collateral Security :

For working capital limits – Second charge on fixed assets having WDV Rs.243.081 millions as per PBS dated 31.03.2005.

OTHER INOFRMATION:

Medicinal Chemistry

Their services meet exacting client needs for organic / medicinal chemistry and include synthesis of:

• Building Blocks, Scaffolds, Intermediate compounds, Reference compounds

• Specially designed small molecules or analogues for Lead Generation and Lead Optimization

• Pharmacophore based focused libraries generated for a particular target protein

• Compound Libraries

• Lead compounds in grams and kilos (custom synthesis)

Their streamlined project management processes allow their clients to leverage the experience and expertise of their scientists. Their talented teams are versatile enough to synthesize compounds with established chemistry as well as develop novel synthetic routes.

Informatics

Their Informatics division analyzes data to transform biological patterns into knowledge and ultimately, successful products and services. Their services span Curation, Cheminformatics and Bioinformatics. Information from more than 125 journals and patents has been curated into rich databases. This includes chemical activity, biological activity, toxic information and pharmacological information for a large number of compounds. Key advantages are:

• Available in searchable formats such as Oracle, XML, ISIS / Base and can easily be exported to relevant formats.

• A total of over a million compounds and three million SAR points covering a large number of targets

• Easy querying using a combination of structure, numeric and textual fields

• Structure, sub-structure and molecular similarity based query

• Pharmacophore hypothesis, analogue (3D- QSAR) or structure based drug design (virtual screening) for enhanced potency and selectivity

• Similarity and Diversity analysis with a focus on chemical library design

Process R and D

They offer services in the areas of process development, analytical development, quality and IP management.

They also provide process scale up services through their Kilo lab and manufacturing facilities.

Their accomplished teams have expertise in synthetic chemistry, characterization, impurity profiling and documentation. They work in state - of - the - art facilities with cutting edge equipment and analytical infrastructure.

Biology

Their Biology services complement their existing services in Informatics and Medicinal Chemistry and complete their services in Discovery Research. They offer comprehensive pharmacological profiling, which encompasses services including primary screening, selectivity and ADME. DMPK, efficacy and safety evaluations in appropriate animal models are also available. Their offerings include a panel of validated assays and models for determination of the biological activity of NCEs. They have established a state of art facility that includes a cell biology lab, a radioisotope lab and biochemical lab for compound profiling. Their team comprises of highly skilled and qualified personnel with relevant pharma industry experience

Clinical Research

They offer integrated or stand alone full service contract research support for Phase I to IV clinical trials across broad therapeutic areas.

Services include:

Clinical Operations

• Protocol and Statistical Design

• Medical Writing

• Site Feasibility

• Medical Monitoring

• Regulatory Affairs

• Quality Assurance

Data Management

• Project Management

• Case Record Form Design

• Statistical Analysis Plan

• Statistical Analysis and Report

• Data Validation

Knowledge Process Outsourcing

They provide comprehensive information and knowledge in the field of intellectual property and patenting. They offer an eclectic mix of IP - trained professionals proficient in chemical, biotechnological, pharmaceutical and other scientific and engineering disciplines; rendering their high quality services at a cost-effective value. Their team is proficient in providing high-end services utilizing Delphion, MicroPatent, and other patent databases. They have specific expertise handling structure and sequence searches using STN.

Their services cover the entire framework required for filing of patents including:

• Patent Search

• Prior art

• State - of - the - art Infringement

• Validity

• Patent Writing

• Patent Drawing

• Patent Proofreading

• Claim Analysis

• File History Analysis

BA / BE

They offer integrated or stand alone services in the areas of Clinical, Bioavailability and Bioequivalence studies. Their services include selection of a suitable study design, protocol and ICF preparation, interaction with Independent Ethics Committee, selection and care for subjects, pharmacokinetic and statistical data evaluation, integrated report preparation and safe archiving of study - related data.

Their state - of - the - art Bioanalytical laboratory includes four clinics of 30, 34, 40 and 40 beds with dedicated areas for phlebotomy. With a continuously updated list, they offer highly selective and sensitive validated methods for assay of drugs, metabolites and endogenous compounds from biological matrices using HPLC and LC / MS / MS techniques. A strong SOP driven culture ensures compliance with all statutory and mandatory requirements.

Best of breed talent

The capabilities and expertise of their scientists match the most exacting international standards. Their teams supplement the efforts of their clients, allowing them to restructure and refocus internal resources and capabilities for maximum strategic benefit.

Stability, scalability and agility

Subject is part of the $500 million GVK conglomerate with operations in infrastructure, services, power and manufacturing. While they are extremely agile and responsive, their rock solid foundation allows them to scale up in line with customer requirements.

Client Focus

They take the trouble to understand unique requirements and working styles so that their clients maximize benefits from their collaboration. They are committed to transparent communication that fosters long term partnerships. Their comprehensive reporting and monitoring systems keep clients in close touch with their programs.

Complete Confidentiality

Whether it is a service based partnership or a collaborative research program, sensitivity to client confidentiality and IP protection permeates all their operations. Their watertight systems encompass people, processes and policies.

State-of-the-art infrastructure

Their cutting-edge infrastructure not only supports the high quality of their research, it also serves to minimize their clients’ overheads and fixed investments. They currently have nearly 100,000 sq. ft. of laboratory space.

WEBSITE DETAILS:

The exponential increase in the number of targets has created vast opportunities and even greater challenges. More drug candidates must be achieved with shorter times-to-market, making reliable and cost-effective research support a critical factor for success.

At the company, they provide contract research services to a rapidly growing base of global pharmaceutical and biotechnology companies. They combine Science, Innovation and People to help their clients address their drug development challenges. New frontiers require new ways of working and they believe that to deliver the true promise of science, innovation is necessary. Their customers benefit not just from lower costs and boosted efficiencies, but also from the infusion of fresh ideas and thinking.

Subject is a part of the $1 billion GVK group. Subject is a diversified enterprise having interests in Infrastructure (Power, Transportation and Urban Infrastructure), Services (Hotels, Life-sciences and Financial) and Manufacturing (Particle Boards, Resins and Chemicals). Subject is one of India’s premier CROs, providing an integrated platform of research services across the Pharma R and D value chain to a growing number of global Pharma and Biotech companies.

Company / Accreditations

· EMS Certificate

· OHSAS Certificate

· AFSSAPS French Approval

· DCGI Approval

· GVK-Anvisa Resolution

PRESS RELEASE:

Hyderabad & US, July 30^th 2007

GVK Biosciences (GVK BIO) today announced that it has signed a material transfer agreement with the Genomics group of the US Food and Drug Administration (USFDA) to share information from its Clinical Biomarker Database. The Genomics group at the FDA will use the database in its VGDS (Voluntary Genomics Data Submission program) as well as in its internal research. Subject will use the feedback from the FDA to further optimize the content and capabilities of the database to meet Reviewers’ needs. Currently, the GVK BIO database contains over 278 different fields for clinically reported biomarkers captured from the published literature. Data ranging from clinical to the preclinical stage has been captured. The database may be useful for design, validation and as a knowledgebase of studies where biomarkers were reported.

G V Sanjay Reddy, Chief Executive Officer, GVK BIO: “We are happy to be working with the USFDA on the biomarker database. It is the first of a kind collaboration in the Informatics field for a company based out of India”.

Sreeni Devidas, Vice President Business Development commented: “The agreement with the FDA further validates the positioning of GVK BIO as a leader in the life-sciences database industry. The product will be very useful to researchers, in the emerging area of Biomarker research, in the Pharmaceutical and Biotech Industry as well as academia”.

About Informatics at GVK BIO

The Informatics division is responsible for analyzing data to transform chemical / biological patterns into knowledge. Informatics offers Custom Curation, Cheminformatics and Bioinformatics services to global clients. It also licenses and sells databases to biotech and Pharma companies.

About GVK BIO

GVK Biosciences is one of India’s premier Contract Research Organizations, providing an integrated platform of research services across the Pharma R&D value chain to a growing number of global Pharma and Biotech companies. The company combines science, innovation and resources to help clients address their Drug Discovery and Development challenges. Currently the company has more than 1,300 employees spread across facilities in Hyderabad, Chennai and Gurgaon. 

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	Indian Rupees
US Dollar	1	Rs.39.55
UK Pound	1	Rs.76.85
Euro	1	Rs.57.87

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		69

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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