MIRA INFORM REPORT

Report Date :

12.09.2008

IDENTIFICATION DETAILS

Name :	JAINSONS (INDIA) REGD.
Registered Office :	Jain Temple Building, Dal Mandi, P.B. No. 37, Ambala Cantt - 133 001, Haryana
Country :	India
Financials (as on) :	31.03.2008 (Summarized Figures)
Year of Establishment :	1957
IEC No.:	0588095991
TIN No.:	06521010312
PAN No.: [Permanent Account No.]	AACFJ3188Q
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners.
Line of Business :	Manufacturer and Exporter of Scientific Laboratory Equipment and Educational Scientific Equipment

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 23000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well – established concern having satisfactory track. Trade relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. Nothing adverse reported.

INFORMATION PARTED BY

Name :	Mr. R K Jain
Designation :	Partner
Date :	25.08.2008

LOCATIONS

Registered Office :	Jain Temple Building, Dal Mandi, P.B. No. 37, Ambala Cantt - 133 001, Haryana, India
Tel. No.:	91-171-2644198 / 2633157 / 4007128 / 2663519
Mobile No.:	91-9416024734/9896353519
Fax No.:	91-171-2643485
E-Mail :	jainsird@airtelmail.in, jainsird@airtelbroadband.in jainsons1957@yahoo.com
Website :	www.jainsonsindia.com www.jainsird.com
Area :	500 Sq.Yds
Location :	Owned
Factory :	Rishab Vatika, Azad Nagar Industrial Area, Ambala Cantt - 133 001, Haryana, India
Tel No.:	91-171-2699178
Area :	5000 Sq.Yds

PARTNERS

Name :	Mr. Rajinder Kumar Jain
Designation :	Partner
Address :	Ambala Cantt - 133 001, Haryana, India
Age :	46 years
Qualification :	Graduate
Experience :	15 years
Name :	Mr. V K Jain
Designation :	Partner
Address :	Ambala Cantt - 133 001, Haryana, India
Age :	45 years
Qualification :	Graduate
Experience :	12 years

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Scientific Laboratory Equipment and Educational Scientific Equipment
Products :	· Educational Science Equipment · Laboratory Equipment · Laboratory Glassware · Hospital Furniture And Equipment · Dairy Equipment · Medical Disposable Products · Surgical Instruments · Veterinary Instruments
Exports :
Products :	Paper and Foild Slitters
Countries :	UK, Germany, France, Italy, Turkey, Nigeria
Imports :
Products :	Raw Products and Spares and Chemicals
Countries :	USA, UK, Germany
Terms :
Selling :	Cash, Credit (30 days)
Purchasing :	Cash, Credit (30 days)

GENERAL INFORMATION

Customers :	End Users
No. of Employees :	14
Bankers :	Punjab National Bank, Ambala Cantt – 133 001, Haryana, India
Facilities :	Total Limit – Rs. 4.600 millions
Banking Relations :	Satisfactory
Auditors :
Name :	Rajiv Goyal and Associates Chartered Accountants
Address :	Ambala Cantt - 133 001, Haryana, India
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

Capital Investment :
Owned :	Rs. 4.500 millions
Borrowed :	---
Total :	Rs. 4.500 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

BALANCE SHEET

(Summarized Figures)

PARTICULARS		31.03.2008	31.03.2007
Partner’s Capital		4.500	4.450
Unsecured Loans		1.500	1.200
Fixed Assets		8.400	8.300
Current Assets
	Inventories	2.815	2.790
	Cash & Bank Balances	0.146	0.187
Current Liabilities
	Current Liabilities	24.812	24.356
Miscellaneous Expenses		0.580	0.305

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2008	31.03.2007
Sales Turnover	30.000	28.200
Other Income	0.000	0.000
Total Income	30.000	28.200
Profit/(Loss) Before Tax	2.320	2.293
Provision for Taxation	0.000	0.000
Profit/(Loss) After Tax	2.320	2.293
Export Value	100%	[100%]
Total Expenditure	27.680	25.907

KEY RATIOS

PARTICULARS		31.03.2008	31.03.2007
PAT / Total Income	(%)	7.73	8.13
Net Profit Margin (PBT/Sales)	(%)	7.73	8.13

LOCAL AGENCY FURTHER INFORMATION

TRUSTSEAL ACCEPTANCE CHART

Parameters	Detail
Existence Verification
Name	JAINSONS (INDIA) REGD.
Address	Jain Temple Building, Dal Mandi, P.B. No. 37, Ambala Cantt - 133 001, Haryana, India
Phone Numbers	91-171-2644198 / 4007118 / 2633157
Mobile Numbers	91-9416024734
Fax Number	91-171-2643485
Electricity Bill	Electricity bill is in the name of the concern
Statutory Approvals
Legal Status of Firm	Partnership Firm Mr. Rajinder Kumar Jain Aged : 46 Years
VAT / TIN Registration	6521010312
Import Export Code	588095991
Name of Bank	Punjab National Bank, Ambala Cantt
Current Account Number	9230
Account Since	1983
RBI Code Number	AACFJ3188Q
Creditability Factors
India Mart Client Since	New Member
Years of Establishment	1957
Trade Affiliations
Export Promotion Council	Scientific Export Promotion Council
Standards and Certifications
Quality Management Systems	Yes, Maintaining Full Quality Control
Safety Certificates	Yes, Maintaining Full Quality Control

TRADE REFERENCES:-

· Undpa – USA

· Afro German Chemical, Ethopia

WEBSITE DETAILs:-

The concern is the oldest manufacturers of Medical Products, Surgical Rubber Products, Surgical Instruments, Hospital Equipments, Educational Science Equipments, Laboratory Instruments and Glassware, Hospital Furniture and Hollow Ware, Operation Theater Equipments and Lighting, Surgical Instruments, I.V. Cannulae, Surgical Suture, Wheel Chairs, Veterinary Items and Pharmaceutical Machinery.

Their concern is fully managed by a team of highly qualified personnel with over three decades of experience and active involvement in foreign business.

They are approved list of "UNITED NATIONS" and their supplier ID number is 8730 and also on "UNFPA"-New York and their vender No. is V-128327. They are also registered with WHO-GENEVA and CROWN AGENTS -U.K.

At the moment, they are engaged in the export of their products to Sri Lanka, Bangladesh, Nepal, Kuwait, Saudi Arabia, Jordan, Kenya, Zimbabwe, Germany, Canada and U.S.A. to the complete satisfaction of their clients and have every hope that with the kind co-operation, they shall certainly be able to enlarge their field of activities to their mutual benefit.

Concern profile

Incorporated in 1957, subject is the manufacturers and exporters of various scientific laboratory equipment and educational scientific equipment. They have witnesses a sustained growth owing to their strategy that focuses on offering high precision products that are competitively priced.

Their continual research and development activities, has enables them to deliver innovative and high quality products that effectively meet the various needs of the end-users. Their products offer a value for money proposition. With substantial experience in this industry, they have served many nations with their array of quality products and have emerged as a force to reckon with.

Their outstanding commitment towards quality and excellence is industry's benchmark. Backed by a highly professional team of industry experts, they are committed to serve their customers worldwide ensuring the system performance, quality of product and on-schedule delivery.

Product range

Fueled by the desire to be a leading player in the global market, they are geared to meet the global challenges with total commitment and dedication. The efficiency and productivity levels set by them has created new and critical standards for their competitors on the lines of quality, reliability and cost competitiveness.

On a broader category their product range encompasses:

· Laboratory Equipment

· Educational (Scientific) Equipment

· Hospital Furniture and Equipment

· Medical Laboratory Equipment

· Pharmacology Equipment

· Dairy Machinery and Equipment

· Medical Disposable Products

· Veterinary Instruments

· Laboratory Glassware

· Surgical Instruments

· Laboratory Chemicals

Industry Expertise

They are a unique resource for world-class engineering and technical expertise in scientific equipment sector. Their forte is in providing top-notch products. They function on constant up-gradation, innovative application of technology and technological integration methods to deliver superlative products and solutions across the world.

Their in-depth industry expertise and excellence in product development is recognized by several national and international organizations. Some such credentials are:

· EEPC Membership

· Approved supplier by "UNITED NATIONS” with ID Number 8730

· Approved supplier by "UNFPA" - New York with Vendor No.: V- 128327

· Registered with "WHO"- Geneva.

· Registered with Crown Agents -U.K

Infrastructure Facility

Equipped with modern manufacturing facilities, their concern is capable of catering to diverse requirements of international market. Their infrastructure enables them to meet the exact requirements and standards of the global industry. A balanced operation of man and machine has propelled their capabilities and has helped them to carve a niche for their selves. The various machinery and gadgets at their production units are upgraded from time to time and similarly their team is also trained regarding the changing trends.

Managed by a team of highly qualified personnel with over three decades of experience has enabled them to grow in leaps and bounds.

Ensuring Quality

Equipment and instruments that they cater to the medical, research and development, education and other fraternities need to be quality checked time and again because "Quality Corresponds Accuracy and Safety". Providing their customers with a world class quality product has been the hallmark of their success. This is highlighted by the ISO 9001: 2000 certification received by them.

Their "Quality Control Department" uses a comprehensive quality control system to ensure complete perfection in their products and services. They assure the precision of the all the products they offer. They concentrate on zero-defect products with exceptional quality built in from the very start. They strive to perfect their products at every level of the process. The reason that supports their global recognition is their adherence to qualitative production without any minor tampering. And all these aspects are confirmed with the recognition of WHO, United Nations, UNFPA, and other international bodies.

Client Base

Leveraging on their modern manufacturing facility, in-depth industry knowledge and quality products, they have been consistently catering to various markets across the globe.

Their products enjoy good market response in India as well as overseas. Substantial portion of their production is regularly exported to countries like Sri Lanka, Bangladesh, Nepal, Kuwait, Saudi Arabia, Jordan, Kenya, Zimbabwe, Germany, Canada and U.S.A.

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.45.44
UK Pound	1	Rs.79.62
Euro	1	Rs.63.48

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.	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