MIRA INFORM REPORT

Report Date :

02.11.2011

IDENTIFICATION DETAILS

Name :	YORCO SALES PRIVATE LIMITED
Registered Office :	Plot No. 2, Gazipur, Transport Nagar, Patparganj, Delhi – 110 096
Country :	India
Financials (as on) :	31.03.2008
Date of Incorporation :	20.01.1988
Com. Reg. No.:	55-030387
Capital Investment / Paid-up Capital :	Rs.2.400 Millions
CIN No.: [Company Identification No.]	U74899DL1988PTC030387
TAN No.: [Tax Deduction & Collection Account No.]	DELY00185D
PAN No.: [Permanent Account No.]	AAACY0027C
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Scientific Equipments.
No. of Employees :	45 (Approximately) (In Office + In Factory)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 77000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The management has not filed the financials of the company with the government departments after the year 2008. However, trade relations are reported as fair. Business is active. Payments are unknown. The company can be considered for business dealings with some caution.

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

INFORMATION PARTED BY

Name :	Mr. Navin
Designation :	Account Department
Contact No.:	91-9968281230
Date :	31.10.2011

LOCATIONS

Registered Office :	Plot No. 2, Gazipur, Transport Nagar, Patparganj, Delhi – 110 096, India
Tel. No.:	91-11-46202222 (100 Lines) / 23276381
Mobile No.:	91-9968281230 (Mr. Navin)
Fax No.:	91-11-23264042
E-Mail :	sales@yorco.com deepak.yorco@yahoo.com sksavetax@zapak.com
Website :	http://www.yorco.com/
Location :	Owned

DIRECTORS

As on 30.09.2008

Name :	Mr. Rakesh Arora
Designation :	Director
Address :	14,Chitra Vihar, Delhi – 110 092, India
Date of Appointment :	31.03.1997
DIN No.:	00918350

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	U29297DL1993PTC053047	Deepak Meditech Private Limited	Director	20-04-93	20-04-93	-	Active	YES
2	U74899DL1988PTC030387	Yorco Sales Private Limited	Director	31-03-97	31-03-97	-	Active	YES
3	U33125DL1997PTC089716	Dispo Medical Devices Private Limited	Director	17-09-97	17-09-97	-	Active	YES
4	U74220DL1997PTC090570	Yorco Scientific Udyog Private Limited	Director	07-11-97	07-11-97	-	Active	YES

Name :	Mr. Deepak Arora
Designation :	Director
Address :	B-10, Swasthya Vihar, Delhi – 110 092, India
Date of Appointment :	31.03.1990
DIN No.:	01172959

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	U74899DL1988PTC030387	Yorco Sales Private Limited	Director	31-03-90	31-03-90	-	Active	YES
2	U33125DL1997PTC089716	Dispo Medical Devices Private Limited	Director	17-09-97	17-09-97	-	Active	YES
3	U33125DL1998PTC093379	York Scientific Industries Private Limited	Director	30-09-08	30-09-08	-	Active	YES
4	U29297DL1993PTC053047	Deepak Meditech Private Limited	Director	30-09-08	30-09-08	-	Active	YES
5	U74220DL1997PTC090570	Yorco Scientific Udyog Private Limited	Additional director	10-10-08	10-10-08	-	Active	YES
6	U74899DL1991PTC045219	Galaxy Mines And Stones Private Limited	Director	11-05-10	11-05-10	-	Active	YES
7	U70109DL2011PTC220033	Srag Infrastructure Private Limited	Director	30-05-11	30-05-11	-	Active	NO

Name :	Mr. Animesh Vinod Arora
Designation :	Additional director
Address :	14, Chitra Vihar, Delhi – 110092, India
Date of Appointment :	10.10.2008
DIN No.:	01499863

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	U85120DL2007PTC170583	UNI Meditrek Private Limited	Director	20-11-07	20-11-07	-	Active	NO
2	U74899DL1988PTC030387	Yorco Sales Private Limited	Additional director	10-10-08	10-10-08	-	Active	YES

Name :	Mr. Sudesh Arora
Designation :	Director
Address :	B-10, Swasthya Vihar, New Delhi – 110092, India
Date of Appointment :	20.01.2009
DIN No.:	02504254

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	U29297DL1993PTC053047	Deepak Meditech Private Limited	Director	20-01-09	20-01-09	-	Active	YES
2	U33125DL1997PTC089716	Dispo Medical Devices Private Limited	Director	20-01-09	20-01-09	-	Active	YES
3	U33125DL1998PTC093379	York Scientific Industries Private Limited	Director	20-01-09	20-01-09	-	Active	YES
4	U74220DL1997PTC090570	Yorco Scientific Udyog Private Limited	Director	20-01-09	20-01-09	-	Active	YES
5	U74899DL1988PTC030387	Yorco Sales Private Limited	Director	20-01-09	20-01-09	-	Active	YES
6	U70109DL2011PTC220033	Srag Infrastructure Private Limited	Director	30-05-11	30-05-11	-	Active	NO

Name :	Mr. Suresh Arora
Designation :	Director
Address :	2424,Tilak Street, Pahar Ganj, Delhi – 110 055, India
Date of Appointment :	20.01.1988
DIN No.:	01172990
Name :	Mr. Sukhdev Raj Arora
Designation :	Director
Address :	B-10 Swasthya Vihar, Delhi – 110 092, India
Date of Appointment :	20.01.1988
DIN No.:	01172820

KEY EXECUTIVES

Name :	Mr. Navin
Designation :	Account Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2008

Names of Shareholders	No. of Shares
Sukhdev Raj Arora	8100
Suresh Arora	3910
Vinod Koshal	260
Naresh Arora	10
Tilak Raj Arora	331
Vinod Arora	4789
Deepak Arora	901
Rakesh Arora	4598
Sudesh Arora	1101
Total	24000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2008

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Scientific Equipments.
Products :	Aerosol Disinfector Blood Bank Refrigerator Cryostat Microtome Tissue Processor Vaccine Storage Cabinet Incubators Metabolic Shakers
Exports :
Products :	Scientific Equipments
Countries :	USA UAE Vietnam
Imports :
Products :	Scientific Equipments
Countries :	China Japan
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS

As on 31.03.2008

Particulars	Licensed Capacity	Installed Capacity	Actual Production
Scientific Equipments	Not Applicable	Not Applicable	112982406

GENERAL INFORMATION

Customers :

Retailers and End Users

No. of Employees :

45 (Approximately) (In Office + In Factory)

Bankers :

• Punjab National Bank, Darya Ganj, New Delhi – 110002, India
• ICICI Bank
• State Bank of India
• Bank of Baroda

Facilities :

Secured Loan	As on 31.03.2008 (Rs. in Millions)	As on 31.03.2007 (Rs. in Millions)
Punjab National Bank – C/C Limit (Against Hypothecation of stock, Equitable Mortgage of property)	9.000	9.000
Punjab National Bank – CC 619 (Against Book Debts)	0.265	1.870
Punjab National Bank (Loan Against FDR OD A/C)	1.913	0.000
Car Loan – (ICICI Bank - 2582892	0.000	0.111
Car Loan – (ICICI Bank – 3206244)	0.643	0.112
Total	11.821	11.093

Unsecured Loan	As on 31.03.2008 (Rs. in Millions)	As on 31.03.2007 (Rs. in Millions)
From Shareholders and Directors	18.721	18.629
Total	18.721	18.629

Banking Relations :	--
Auditors :
Name :	S. K. Anand and Company Chartered Accountants
Address :	15A/11, Top Floor, East Patel Nagar, New Delhi – 110 008, India
Tel. No.:	91-11-25889572
PAN.:	AAEPA6718P

CAPITAL STRUCTURE

As on 31.03.2008

Authorised Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.100/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
23000	Equity Shares (Fully paid up)	Rs.100/- each	Rs.2.300 Millions
1000	Equity Shares (Fully paid up Pursuance to an agreement without payment being received in cash)	Rs.100/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Share Capital		2.400	2.400	2.400
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		16.823	14.277	10.666
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		19.223	16.677	13.066
LOAN FUNDS
1] Secured Loans		11.821	11.093	12.085
2] Unsecured Loans		18.721	18.629	20.015
TOTAL BORROWING		30.542	29.722	32.100
DEFERRED TAX LIABILITIES		0.340	0.433	0.352
TOTAL		50.105	46.832	45.518
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		62.260	44.786	34.038
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.120	0.120	0.120
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	19.004	14.271	19.757
	Sundry Debtors	102.569	103.452	61.085
	Cash & Bank Balances	18.714	18.247	16.946
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	5.609	3.887	12.298
Total Current Assets		145.896	139.857	110.086
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	151.864	130.387	88.639
	Other Current Liabilities	7.187	8.218	10.343
	Provisions	(0.879)	(0.673)	(0.255)
Total Current Liabilities		158.172	137.932	98.727
Net Current Assets		(12.276)	1.925	11.359
MISCELLANEOUS EXPENSES		0.001	0.001	0.001
TOTAL		50.105	46.832	45.518

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2008
	SALES
		Income	108.249
		Other Income
		TOTAL	108.249
	TOTAL EXPENSES		108.050
	PROFIT BEFORE TAX		3.684
Less	TAX		1.232
	PROFIT AFTER TAX		2.452
	Earnings Per Share (Rs.)		102.16

Particulars	31.03.2011	31.03.2010	31.03.2010
Sales Turnover (Approximately)	107.200	108.000	132.100
	(Due To Recession)

The above information has been parted by Mr. Navin.

KEY RATIOS

PARTICULARS		31.03.2008	31.03.2007	31.03.2006
PAT / Total Income	(%)	2.27	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.77	NA	NA
Return on Investment (ROI) (PBT/Networth)		0.19	NA	NA
Debt Equity Ratio (Total Liability/Networth)		9.82	10.05	10.01
Current Ratio (Current Asset/Current Liability)		0.92	1.01	1.11

LOCAL AGENCY FURTHER INFORMATION

NOTE:

Registered office of the company has been shifted from “2424, Tilak Street, Paharganj, New Delhi – 110 055, India” to the present address w.e.f. 15.05.2008.

FORM 8:

Corporate identity number of the company	U74899DL1988PTC030387
Name of the company	YORCO SALES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	PLOT NO. 2, GAZIPUR, TRANSPORT NAGAR, PATPARGANJ, DELHI - 110092, India E-Mail : deepak.yorco@yahoo.com
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	Bank of Baroda, Darya Ganj, New Delhi – 110002, India E- Mail : ca_rcg@yahoo.co.in
Nature of instrument creating charge	Letter of hypothecation of vehicles dated 07.05.2010 and Letter of Installment with Acceleration clause dated 07.05.2010.
Date of instrument Creating the charge	07.05.2010
Amount secured by the charge	Rs.36.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest @ 9.75% p.a. at monthly rests or at such rate(s) as may be specified by the Bank from time to time Terms of repayment Repayable in 35 equated monthly installments of Rs.0.027 Millions commencing from June, 2016 till the entire loan with interest and other charges is repaid in full. Margin 15.09% Extent and operation of the charge 100% Others To secure all amounts payable under a Term Loan of Rs.0.830 million granted to the Company together with all interests, costs, charges, expenses etc.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of the following vehicle purchased or to be purchased out of the Term Loan granted by the Bank: Honda City VAT Car

FIXED ASSETS

• Car
• Motor Cycle
• Cycle
• Cell Phone
• Computer
• Printer
• Fax Machine
• Generator
• Typewriter
• Air Duster Machine
• Refrigeration
• Software
• U.P.S.

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.49.08
UK Pound	1	Rs.78.78
Euro	1	Rs.67.76

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
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	3
--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		28

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.