MIRA INFORM REPORT

Report Date :

23.08.2011

IDENTIFICATION DETAILS

Name :	REGAL PHARMA PTE. LTD.

Registered Office :	371 Beach Road, #02-01c Keypoint, Singapore 199597

Country :	Singapore

Date of Incorporation :	27.07.2010

Com. Reg. No.:	201015805N

Legal Form :	Private Limited Liability Company

Line of Business :	Deal in chemicals and intermediates

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Maximum Credit Limit :	USD 5,000

Status :	New Company

Payment Behaviour :	No Complaints

Litigation :	Clear

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Singapore

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Contact Points

Company Name:	Regal Pharma Pte. Ltd.
Supplied Name:	Regal Pharma Pte Ltd.
Trading Address:	371 Beach Road, #02-01c Keypoint, Singapore 199597, Singapore
Supplied Address:	371 Beach Road #02-01C Key Point Singapore 199597

Credit Summary

Credit Rating:	Maximum credit USD 5,000
Credit Opinion:	Business connections are permissible.

Special Note

According to the supplied name and address, we couldn’t obtain the contact methods of subject. And if you can supply a photocopy of subject's letterhead, a current telephone or fax number for the company, we shall be pleased to have the investigation resumed.

The registration files show that subject is engaged in dealing in chemicals and intermediates, since we did not get in touch with subject, we can not confirm the information.

We found subject’s registration information as follows for reference.

Company Identification Details

Registered Name:	Regal Pharma Pte. Ltd.
Registered Address:	371 Beach Road, #02-01c Keypoint, Singapore 199597, Singapore
Date of Registration::	2010-7-27
Registered Number:	201015805N
Country of Incorporation:	Singapore
Paid-up Capital:	SGD 100 (USD 57.5057) = 100 Shares@1 SGD (As of 2011.08, 1 SGD = 0.8133 USD)
Legal Form:	Private Limited Liability Company
Principal Activities:	46649 Deal in chemicals and intermediates 46900 General wholesale trade (including general importers and exporters)
Staff:	N/A
Status:	Live Company
Listed at Stock Exchange:	No
Date of Last Annual Return:	N/A

Note:

The staff number is not available from the subject or other sources.

History

Subject was incorporated on 2010-7-27 with registered number 201015805N as Private Limited Liability Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
AVON ORGANICS LIMITED	90	90%
JAIN MANOJ TEJRAJ	5	5%
JAIN MANOJ TEJRAJ	5	5%
Total	100	100%

Major Shareholder Information:

1
Name:	AVON ORGANICS LIMITED
Registered Number:	T10UF2118G
Address:	Yawapur Village, Sadasivpet, Medak District, Andhra Pradesh, India
Place of Origin	India
2
Name:	KAMATH AJIT
Registered Number:	Z1894436
Address:	404, Ila Apartments, Plot No. 118 Sector 4, Charkop, Kandivali West, Mumbai 400067, India
Nationality:	Indian
3
Name:	JAIN MANOJ TEJRAJ
ID Number:	Z2285088
Address:	Flat No.5 Anchorace, 10/12 L J Road, Mahim, Mumbai 400016, India
Nationality:	Indian

Subsidiaries & Branches

We obtained the information as following from other sources, but we did not get in touch with subject, we can not confirm the information.

Parent Company:

Name:	AVON ORGANICS LIMITED
Registered Address:	India Yawapur Village, Sadasivpet, Medak District, Andhra Pradesh, India
Tel:	+91-40-23414432 / 23405042
Fax:	+91-40-23404438
Note:	Avon Organics Limited is an India-based company engaged in the pharmaceutical business. The principal products/services of the Company include Pseudoephedrine (PSU), Ephedrine (EP), Vala Cyclovir (VALA), Ethyl4, Cholera Aceto Acetate and Pthlimido Ether.

Manage Information

Core Management

Detailed Information of Management:

1
Name:	BALASUBRAMANIAN NARAYAN IYER
Position:	Director
ID Number:	S2673731A
Address:	39 Amber Gardens #13-17 Esta, The Singapore 439970
Nationality:	Singapore P.R.
Date of Appointment:	2010-7-27
2
Name:	SRIPRIYA BALASUBRAMANIAN
Position:	Secretary
ID Number:	S6881590H
Address:	39 Amber Gardens #13-17 Esta, The Singapore 439970
Nationality:	Singapore P.R.
Date of Appointment:	2010-7-27
3
Name:	KAMATH AJIT
Position:	Director
ID Number:	Z1894436
Address:	404, Ila Apartments, Plot No. 118 Sector 4, Charkop, Kandivali West, Mumbai 400067, India
Nationality:	Indian
Date of Appointment:	2010-7-27
4
Name:	JAIN MANOJ TEJRAJ
Position:	Director
ID Number:	Z2285088
Address:	Flat No.5 Anchorace, 10/12 L J Road, Mahim, Mumbai 400016, India
Nationality:	Indian
Date of Appointment:	2010-7-27

Operation Information

Offices & Factories

	Office
Address:	371 Beach Road, #02-01c Keypoint, Singapore 199597, Singapore

Operation Information

We contacted the subject unsuccessfully.

We obtained the registered activities of the subject as follows for reference.

Business Code	Details
46649	Deal in chemicals and intermediates
46900	General wholesale trade (including general importers and exporters)

Settlements

Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Singapore and the only source from which we can obtain the information is the subject itself.

We couldn’t contact subject directly, the financial information is not available from the subject.

Bankers

The bankers’ information is not available from the subject or other sources.

Auditors

Name:

MGI N RAJAN ASSOCIATES

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.95
UK Pound	1	Rs.75.76
Euro	1	Rs.66.01

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

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%)

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.