MIRA INFORM REPORT

Report Date :

02.11.2011

IDENTIFICATION DETAILS

Name :	SHANTI MEDICAL DEVICE PRIVATE LIMITED
Registered Office :	Commercial House, 2^nd Floor, Main Road, Kankarbagh, Patna-800020, Bihar
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	02.02.2009
Com. Reg. No.:	03-014225
Capital Investment / Paid-up Capital :	Rs.2.100 millions
CIN No.: [Company Identification No.]	U51101BR2009PTC014225
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Supplier of Comprehensive range of quality Medical Products and Equipments.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 40000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively new company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

LOCATIONS

Registered Office :	Commercial House, 2^nd Floor, Main Road, Kankarbagh, Patna-800020, Bihar, India.
Tel. No.:	91-612-2227294 / 2354215
E-Mail :	Sujeet201@sify.com
Head Office :	Trust House, 6^th Floor, 32 A, Chitrajan Avenue, Kolkata-70012, West Bengal, India.
Branch Office :	11^th Floor, Room No.1105, Vikram tower, Rajendra Place, New Delhi-110008, India.
Tel. No.:	91-11-47047101

DIRECTORS

(AS ON 30.09.2010)

Name :

Mr. Amar Kumar Agarwal

Designation :

Director

Address :

202 B, Hariom Apartment, Near Narmada Apartment, Exhibition road, Patne-800001, Bihar, India.

Date of Appointment :

02.02.2009

DIN No :

02218264

Other Directorship :

.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U27106BR2007PTC012837	Shanti Alloys Private Limited	Director	########	########	-	Active	NO
2	U27100BR2008PTC013718	Shanti Global Private Limited	Director	16/06/2008	16/06/2008	-	Active	NO
3	U51101BR2009PTC014225	Shanti Medical Device Private Limited	Director	2/2/2009	2/2/2009	-	Active	NO

Name :

Mr. Amit Kumar Dhandhania

Designation :

Director

Address :

202 B, Hariom Apartment, Near Narmada Apartment, Exhibition road, Patne-800001, Bihar, India.

Date of Appointment :

02.02.2009

DIN No :

02477828

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U27106BR2007PTC012837	Shanti Alloys Private Limited	Director	1/1/2009	1/1/2009	-	Active	NO
2	U51101BR2009PTC014225	Shanti Medical Device Private Limited	Director	2/2/2009	2/2/2009	-	Active	NO

Name :

Mr.Warinder Singh

Designation :

Director

Address :

49, Russa Road, East, 1^st Lane, Tollygunge, Kolkata-700033, West Bengal, India.

Date of Appointment :

29.03.2009

DIN No :

02588441

Name :

Mr. Tarakad Ananthkrishan Sivaram

Designation :

Director

Address :

522, RBCA CGHS, Plot 3, Sec. 10, Dwarka, New Delhi-110066, India.

Date of Appointment :

25.04.2009

DIN No :

02588475

Name :

Mr. Rajesh Saha

Designation :

Director

Address :

46, Bodhi Kanan, PO, Sodepur, Kolkata-700110, West Bengal

Date of Appointment :

01.04.2009

DIN No :

02606659

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Amar Kumar Agarwal	5000
Amit Kumar Dhandhania	5000
Shanti Alloys Private Limited, India	200000
Total	210000

Equity Share Breakup

(AS ON 30.09.2010)

Category	Percentage
Bodies corporate	95.24
Directors or relatives of directors	4.76
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Supplier of Comprehensive range of quality Medical Products and Equipments.
Products :	· Anaestheisa Workstation · Patient Monitors · Ultra Sound Machine · ICU Ventilators · Pulse Oximeters · Vein Location Equipments · Neo Natal Ventilators · Syringe Infusion Pumps · Volumetric Pumps

GENERAL INFORMATION

Suppliers :

· Berlia Compu Systems, Kolkata

· Great Eastern Appliances (Private) Limited

· Impex Technologies, Kolkata

· Instrumentation Laboratory India (Private) Limited

· Mantra, Kolkata

· Piramal Healthcare Limited

· Roche Diagnostics India (Private) Limited

· Trivitron Health Care Limited, Chennai

· Usha Infotech (Private) Limited, Kolkata

· Zimmer India (Private) Limited

Customers :

· A.H.I.V.F

· Carrier Scientific

· Tanu International

· Sanjeevan

· Patliputra Pathology

No. of Employees :

Not Available

Bankers :

· HDFC Bank

· State Bank of India

Facilities :

(Rs. in millions)

Unsecured Loans	As on 31.03.2010	As on 31.03.2009
From Body Corporates
Contessa Commercial Company Private Limited	2.000	0.000
From Directors
Rajesh Saha	0.050	0.000
TA sivaram	0.011	0.000
Warinder Singh	0.139	0.000
Total	2.200	0.000

Banking Relations :	---
Auditors :
Name :	A. K. Salampuria and Associates Chartered Accountant
Address :	1^st Floor, Above Mica Sales, Near Chanakya Cinema, Exhibition Road, Patna-800001, Bihar, India.
Tel. No.:	91-612-6531293
E-Mail :	sujeet201@sify.com anand_ca@sify.com
Income-tax PAN of auditor or auditor’s firm :	AAFFA1003L

CAPITAL STRUCTURE

(AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Share	Rs.10/- each	Rs.2.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
210000	Equity Share	Rs.10/- each	Rs.2.100 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		2.100	0.600
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		8.268	2.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		10.368	2.600
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		2.200	0.000
TOTAL BORROWING		2.200	0.000
DEFERRED TAX LIABILITIES		0.021	0.000
TOTAL		12.589	2.600
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.301	0.000
Capital work-in-progress		0.000	0.000
INVESTMENT		0.300	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.020	0.000
	Sundry Debtors	1.885	0.000
	Cash & Bank Balances	2.177	0.161
	Loans & Advances	15.521	2.400
Total Current Assets		22.603	2.561
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.440	0.003
	Other Current Liabilities	4.121	0.000
	Provisions	0.113	0.000
Total Current Liabilities		10.674	0.003
Net Current Assets		11.929	2.558
MISCELLANEOUS EXPENSES		0.059	0.042
TOTAL		12.589	2.600

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
	Income		22.185	0.000
	Other Income		0.000	0.000
	TOTAL		22.185	0.000
Less	EXPENSES
		Cost of Sales	18.350	0.000
		Selling and Distribution Expenses	3.414	0.007
		TOTAL	21.764	0.007
	PROFIT / LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION		0.421	(0.007)
Less/ Add	DEPRECIATION/ AMORTISATION		0.018	0.000
	PROFIT BEFORE TAX		0.403	(0.007)
Less	TAX		0.134	0.000
	PROFIT / LOSS AFTER TAX		0.269	(0.007)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000	0.000
	BALANCE CARRIED TO THE B/S		0.268	0.000
	Earnings Per Share (Rs.)		4.79	0.00

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009
PAT / Total Income	(%)	1.21	NA
Net Profit Margin (PBT/Sales)	(%)	1.82	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.76	(0.27)
Return on Investment (ROI) (PBT/Networth)		0.04	0.00
Debt Equity Ratio (Total Liability/Networth)		1.24	0.00
Current Ratio (Current Asset/Current Liability)		2.12	853.66

LOCAL AGENCY FURTHER INFORMATION

Note:

The Registered Office has been shifted from 202/B, Hari Om Apartment, Near Narmada Apartment, Exhibition Road, Patna-800001, Bihar, India to the present address with effect from 05.01.2011

FIXED ASSETS:

· Computer and Laptop

· Fax Machine

· Inverter and Battery

· Telephone

· Printer

· Refrigerator

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.49.25
UK Pound	1	Rs.78.73
Euro	1	Rs.67.64

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.