ee1. Summary Information

		Country	India
Company Name	GENETIX BIOTECH ASIA PRIVATE LIMITED	Principal Name 1	Mr. Arun Prakash
Status	Satisfactory	Principal Name 2	Mr. Raminder Prakash
		Registration #	55-112768
Street Address	C – 88, Lower Ground Floor, Kirti Nagar, New Delhi – 110 015, India
Established Date	10.10.2001	SIC Code	--
Telephone#	--	Business Style 1	Retailer
Fax #	--	Business Style 2	Supplier
Homepage	www.genetixbiotech.com	Product Name 1	Pharmaceuticals
# of employees	Not Available	Product Name 2	Health Care
Paid up capital	Rs. 9,683,110/-	Product Name 3	Diagnostic Products
Shareholders	Directors or relatives of directors (100.00%)	Banking	Bank of India
Public Limited Corp.	NO	Business Period	10 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (49)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	345,884,000	Current Liabilities	199,019,000
Inventories	151,614,000	Long-term Liabilities	133,845,000
Fixed Assets	28,099,000	Other Liabilities	57,587,000
Deferred Assets	000	Total Liabilities	390,451,000
Invest& other Assets	39,643,000	Retained Earnings	163,272,000
		Net Worth	174,789,000
Total Assets	565,240,000	Total Liab. & Equity	565,240,000
Total Assets (Previous Year)	382,217,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales/ Total Income	833,856,000	Net Profit	70,311,000
Sales/Total Income(Previous yr)	702,027,000	Net Profit(Prev.yr)	34,906,000

MIRA INFORM REPORT

Report Date :

06.06.2011

Note: The Correct name of the company is GENETIX BIOTECH ASIA PRIVATE LIMITED

IDENTIFICATION DETAILS

Name :	GENETIX BIOTECH ASIA PRIVATE LIMITED
Registered Office :	C – 88, Lower Ground Floor, Kirti Nagar, New Delhi – 110 015
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	10.10.2001
Com. Reg. No.:	55-112768
Capital Investment/ Paid-up Capital:	Rs. 9.683 Millions
CIN No.: [Company Identification No.]	U24239DL2001PTC112768
TAN No.: [Tax Deduction & Collection Account No.]	DELG05481A
Legal Form :	Private Limited Liability Company.
Line of Business :	Retailers and Suppliers of Pharmaceuticals, Health Care, Herbal, Diagnostic Products, Animal Care Products, Finished Pharmaceutical Products, Perfume, Herb, Skincare, Medical Devices, Bio Pharmaceuticals, etc.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 690000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

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

INFORMATION PARTED BY (Partial Details)

Name :	Mr. I.F. Makkar
Designation :	VP in Finance

LOCATIONS

Registered Office :	C – 88, Lower Ground Floor, Kirti Nagar, New Delhi – 110 015, India
E-Mail :	info@genetixbiotech.com rajiv_gawri@rediffmail.com genetix@genetixbiotech.com
Website :	http://www.genetixbiotech.com
Corporate Office :	71/1, Shivaji Marg, New Delhi-110 015, India.
Tel. No.:	91-11-45027000/ 41427031
Fax No.:	91-11-25419631

DIRECTORS

As on 30.09.2010

Name :	Mr. Arun Prakash
Designation :	Director
Address :	C – 88, Lower Ground Floor, Kirti Nagar, New Delhi – 110 015, India
Date of Birth/Age :	09.03.1962
Date of Appointment :	10.10.2001
DIN No.:	00287125
Name :	Mr. Om Prakash
Designation :	Director
Address :	C-88, Kirti Nagar, Delhi-110015, India
Name :	Mr. Raminder Prakash
Designation :	Director
Address :	C – 88, Lower Ground Floor, Kirti Nagar, New Delhi – 110 015, India
Date of Birth/Age :	18.05.1973
Date of Appointment :	10.10.2001
DIN No.:	00287173
Name :	Mr. Kailash Prakash
Designation :	Director
Address :	C – 88, Lower Ground Floor, Kirti Nagar, New Delhi – 110 015, India
Date of Birth/Age :	13.12.1933
Date of Appointment :	10.10.2001
DIN No.:	00287201

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Arun Prakash	857811
Raminder Prakash	87940
Kailash Prakash	22500
Dr. Anand	10
Geeta Sharma	10
Raman Chandhok	10
Sulochna Sabharwal	10
Sunil Chandok	10
Uma Walia	10
Total	968311

Equity Share Breakup (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage of Holding
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Retailers and Suppliers of Pharmaceuticals, Health Care, Herbal, Diagnostic Products, Animal Care Products, Finished Pharmaceutical Products, Perfume, Herb, Skincare, Medical Devices, Bio Pharmaceuticals, etc.

Products :

Molecular Biology Nucleic Acid Analysis PCR and RT-PCR Real-Time PCR Cell Biology Genomics Proteomics Cloning Restriction Enzymes Electrophoresis Plant Tissue Culture Antibodies Antibiotics Softwares Bio Separation and Filteration Chromatography Filtration Dialysis Cell Line Management Instrumentation Diagnostics Clinical Diagnostics Genetic Analysis GeneGlobe Web Portal Instrumentation Thermal Cyclers Capillary Electrophoresis System Quantitative PCR Systems Robotic Stations For Isolation and Purification of Nucleic Acids Microarray Scanners MicroArray Hybridization Systems Electrophoresis Geldoc Systems Lab Equipment Chemicals and Reagents DNA and RNA Preperation PCR Reagents and Kits Protein Extraction and Purification Lab Essentials Buffers and Detergents Histology Detection and Labeling Microbiological Media(Food and water testing) Plasticwares Cell Culture Cryogenics Immuno Assays

GENERAL INFORMATION

Bankers :

• Bank of India, Kirti Nagar, New Delhi – 110 015, India
• Standard Chartered Bank
• HDFC Bank Limited

Facilities :

Secured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Term Loan
HDFC, New Delhi (Alto Hyd)	0.079	0.144
HDFC, New Delhi (Febia)	0.158	0.288
HDFC, New Delhi (M-800)	0.059	0.108
HDFC, New Delhi (M- Cargo_	0.060	0.108
Standard Chartered Bank, Ne Delhi (Innova)	0.000	0.069
HDFC, New Delhi (Alto 1228)	0.019	0.091
HDFC, New Delhi (Wagon R BBY)	0.114	0.193
HDFC, New Delhi (Alto 1264)	0.020	0.092
HDFC, New Delhi (Scorpio)	0.000	0.320
HDFC, New Delhi (Mercedes Benz)	2.000	0.000
Bank of India, Term Loan	8.811	0.000
Bank of India, New Delhi (Ritz)	0.300	0.000
Bank of India, New Delhi (Innova II)	0.633	0.000
(Term loans are secured against hypothecation of cars)
Cash Credit
Bank of India, Kirti Nagar, New Delhi (Secured by hypothecation of book debts and personal guarantees of all the Promoters Directors)	103.667	56.696
Bank of India, Kirti Nagar, New Delhi (Secured by hypothecation of FDR’s and personal guarantees of all the Promoters Directors)	17.278	19.387
Total	133.198	77.496

Unsecured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
From Shareholders	0.647	0.647
Total	0.647	0.647

Banking Relations :	--
Auditors :
Name :	Rajiv K. Gawri and Company Chartered Accountants
Address :	207, IInd Floor, Lusa Tower, Azadpur Complex, Delhi – 110 033, India
Tel. No.:	91-11-27676081/ 27673409

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
968311	Equity Shares	Rs.10/- each	Rs. 9.683 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		9.683	9.683	7.849
2] Share Application Money		1.834	1.834	1.834
3] Reserves & Surplus		163.272	109.898	75.601
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		174.789	121.415	85.284
LOAN FUNDS
1] Secured Loans		133.198	77.496	97.426
2] Unsecured Loans		0.647	0.647	0.780
TOTAL BORROWING		133.845	78.143	98.206
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		308.634	199.558	183.490
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		28.099	18.388	13.186
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		39.643	43.057	44.998
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	151.614	80.304	54.579
	Sundry Debtors	178.958	130.152	125.041
	Cash & Bank Balances	73.104	33.356	73.144
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	93.822	76.960	33.587
Total Current Assets		497.498	320.772	286.351
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	181.125	153.123	129.074
	Other Current Liabilities	17.894	10.348	16.562
	Provisions	57.587	19.188	15.409
Total Current Liabilities		256.606	182.659	161.045
Net Current Assets		240.892	138.113	125.306
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		308.634	199.558	183.490

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	833.856	702.027	570.600 (Gross Income)
		Other Income
		TOTAL	833.856	702.027	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses	722.895	647.933	NA
		Advertising Expenses
		TOTAL	722.895	647.933	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		NA	NA	45.500
Less/ Add	DEPRECIATION/ AMORTISATION		NA	NA	3.300
	PROFIT BEFORE TAX		110.961	54.094	42.200
Less	TAX		40.650	19.188	15.400
	PROFIT AFTER TAX		70.311	34.906	26.800
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	63.794	32.152	22.619
	TOTAL EARNINGS		63.794	32.152	22.619
	IMPORTS
		Import value	NA	321.428	257.055
	TOTAL IMPORTS		NA	321.428	257.055
	Earnings Per Share (Rs.)		72.61

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	8.43	4.97	NA
Return on Total Assets (PBT/Total Assets}	(%)	21.11	15.95	14.09
Return on Investment (ROI) (PBT/Networth)		0.63	0.45	0.49
Debt Equity Ratio (Total Liability/Networth)		2.23	2.15	3.04
Current Ratio (Current Asset/Current Liability)		1.94	1.76	1.78

LOCAL AGENCY FURTHER INFORMATION

Operational Review:

The company recorded a turnover of Rs. 833.800 Millions as compared to Rs. 702.000 Millions during the previous financial year. The net profit for the same period stands at Rs. 70.300 Millions as compared to Rs. 34.900 Millions during the previous financial year. The company had established the boom in biotechnology sector.

Bankers Charges Report as per Registry

Corporate identity number of the company	U24239DL2001PTC112768
Name of the company	GENETIX BIOTECH ASIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	C – 88, Lower Ground Floor, Kirti Nagar, New Delhi – 110 015, India
This form is for	Creation of Charge
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	Bank of India, Kirti Nagar, New Delhi – 110 015, India
Nature of instrument creating charge	Agreement of hypothecation of plat and machinery, stocks and book-debts dated 20.08.2010 and credit facility Agreement dated 20.08.2010
Date of instrument Creating the charge	20.08.2010
Amount secured by the charge	Rs. 152.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Extent and Operation of the charge 100% Others To secured all amounts payable under various credit facilities aggregating to Rs. 152.500 Millions granted to / enjoyed by the company together with all interests, costs, charges, expenses, commission etc.
Short particulars of the property charged	Hypothecation of the following:- a) All tangible moveable machineries and plant - both present plant and machinery and future, whether installed or not and whether lying loose or in case at site or in transit a short particulars of which are disclosed in Part A of the Schedule II hereunder written or which may at any time during the continuance of this security being installed or lying loose or in cases or being in or upon or about the Borrowers premises, godowns at 71/1, Najafgarh Road, New Delhi-110015 or wherever else the same may be or be held by any party anywhere to the order and disposition of the Borrower or in the course of transit to the borrower. b) All tangible moveable properties, assets of whatsoever nature of the Borrower (both present and future) and including but without prejudice to the generality of the foregoing all stocks of raw-materials such as Reagents, chemicals, biotech, Life Sciences and Laboratory research products etc. situate at New Delhi and/or in transit now belonging to or that may at any time during the continuance of its security belong to the Borrower or that may be held by any part to the order and disposition of the Borrower. c) All the present and future book-debts, outstandings, money receivables, claims and bills which are now due and owing or which may at any time hereafter during the continuance of this security become due and owing to the borrower in the course of its business by any person, firm, company or body corporate or by the Central Govt. or any State Govt. or any Govt. Department or office or any municipal or local or public or semi governmental body or authority or any body corporate or undertaking or project whatsoever.

FIXED ASSETS:

• Computer
• Air Conditioner
• Camera
• Cellular Phone
• Coffee Machine
• Deep Freezer
• Electric Fittings
• EPABX
• Exhaust Fan
• Fan
• Fax Machine
• Gas Stove
• Office Equipments
• Furniture and Fixtures
• Inverter
• Generator
• Security Systems
• Electric Fittings
• Scanner
• Printer
• Vehicles

WEBSITE DETAILS:

Company Profile:

They are at the leading edge of the entire Indian life science market and distribute most innovative core technologies in order to ensure the success in the fast changing environment. Subject represents world leaders for supply of Kits, Reagents, Laboratory Plasticware and Filterware for use within Molecular Biology, Genomics, Proteomics, Immunology and Cell Culture.

Subject has the largest distribution network of branch offices and over 30 distributors across the country and in South East Asia.

Line of Business:

Subject is presently marketing for some of the world leaders in Biotechnology / Life Sciences, Laboratory research products such as, filtration membranes and Devices, Molecular Biology Kits and Reagents, Biochemistry, Protein Assays, Fine chemicals, Immunology Reagents, Cell and Tissue Culture, Serum and Media and Chromatography accessories and various instruments for leading International Brands.

Message from CEO

In 18 years they have turned ideas and dreams into a reality - "Their Company" Through these years they have grown as a company and tried to achieve their goals with the support and patronage.

Their business strategy is based on understanding their customers, Research and Development Processes and providing innovative Technology and Solutions to meet their needs.

Since 1989 they have built a significant portfolio of the best products and solutions for Scienctific research applications, including, Drug Discovery, Screening Biological development and Regenerative medicine.

Subject's unique position in the Life Science market has enabled them to develop and maintain strong strategic relationship with all major Biotechnology and Bio-pharma companies.

Their commitment is to grow their services and portfolio through innovation and high level of investment. They present once again the Hyclone and Stratagene product line, other Genetix Brand products and many other new cutting edge Technologies this year.

They will continue to provide valuable products and services to support their customer's Research objectives and have a long term "Supplier" relatioship with them.

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.44.85
UK Pound	1	Rs.73.29
Euro	1	Rs.64.89

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		49

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	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	-

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.