MIRA INFORM REPORT

Report Date :

10.11.2011

IDENTIFICATION DETAILS

Name :	S.M. SCIENTIFIC INSTRUMENTS PRIVATE LIMITED
Registered Office :	14-U.A, Jawahar Nagar, New Delhi – 110007, Delhi
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.04.2001
Com. Reg. No.:	55-110347
Capital Investment / Paid-up Capital :	Rs.2.500 Millions
CIN No.: [Company Identification No.]	U29298DL2001PTC110347
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Laboratory Equipments, Laboratory Instruments, Hospital Furniture’s, Medical Devices, Refrigeration Appliances and Diagnostic Medical Devices
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 34540
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. 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 – 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

LOCATIONS

Registered Office :	14-U.A, Jawahar Nagar, New Delhi – 110007, Delhi, India
Mobile No.:	91-9711148797 (Mr. O.P. Jindal) / 91-9711148796 (Mr. Mayank Jindal)
E-Mail :	jainatulfca@yahoo.co.in info@smscientific.com smscientific@gmail.com
Website :	www.smscientific.com
Corporate Office :	A-24, Anand Vihar, Near Petrol Pump, New Delhi – 110003, India
Factory :	4/26, Site IV, Industrial Area, Sahibabad District, Gahaziabad – 201010, Uttar Pradesh, India

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Om Prakash Jindal
Designation :	Director
Address :	A-24, Anand Vihar, New Delhi – 110092, Delhi, India
Date of Birth/Age :	20.10.1956
Date of Appointment :	09.04.2001
DIN No.:	01904345

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	U29298DL2001PTC110347	S M Scientific Instruments Private Limited	Director	09/04/2001	09/04/2001	-	Active	NO

Name :	Mrs. Upasana Jindal
Designation :	Director
Address :	A-24, Anand Vihar, New Delhi – 110092, Delhi, India
Date of Birth/Age :	14.01.1963
Date of Appointment :	09.04.2001
DIN No.:	01904366

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	U29298DL2001PTC110347	S M Scientific Instruments Private Limited	Director	09/04/2001	09/04/2001	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Mr. Om Prakash Jindal	150000
Mrs. Upasana Jindal	100000
Total	250000

AS ON 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Laboratory Equipments, Laboratory Instruments, Hospital Furnitures, Medical Devices, Refrigeration Appliances and Diagnostic Medical Devices.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• State Bank of India, Laxmi Nagar, Delhi, India
• Standard Chartered Bank
• ICICI Bank

Facilities :

Secured Loans	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
Standard Chartered Bank	6.503	9.794
NSIC Limited	0.000	0.722
ICICI Bank	0.000	0.183
Total	6.503	10.699

Banking Relations :	--
Auditors :
Name :	Atul Kumar Jain Chartered Accountant
Address :	A-24, Anand Vihar, New Delhi – 110092, Delhi, India
Associates/Subsidiaries :	Ni l

CAPITAL STRUCTURE

AS ON 30.09.2011

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

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

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		2.500	2.500	2.500
2] Share Application Money		4.813	4.725	2.540
3] Reserves & Surplus		1.322	1.181	0.912
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		8.635	8.406	5.952
LOAN FUNDS
1] Secured Loans		4.112	6.503	10.699
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		4.112	6.503	10.699
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		12.747	14.909	16.651
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.716	9.563	2.918
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.406	6.026	2.049
	Sundry Debtors	2.219	2.046	8.821
	Cash & Bank Balances	0.102	0.052	0.038
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	5.622	5.073	13.109
Total Current Assets		16.349	13.197	24.017
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		7.564	9.710
	Current Liabilities	12.318	0.290	0.580
	Provisions	0.000	0.000	0.000
Total Current Liabilities		12.318	7.854	10.290
Net Current Assets		4.031	5.343	13.727
MISCELLANEOUS EXPENSES		0.000	0.003	0.006
TOTAL		12.747	14.909	16.651

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2010	31.03.2009
TURNOVER	17.440	20.590
PROFIT FOR THE YEARS	0.391	0.848

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	1.90	1.71	3.53
Current Ratio (Current Asset/Current Liability)	1.32	1.68	2.33

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS :

During the period the company has made turnover of Rs.17.440 Millions and the operations have resulted in a profit of Rs.0.391 Million. The directors expect good business in the coming years since efforts are being made to secure business for the company.

FIXED ASSETS :

• Car (Indica)
• Car (Innova)
• Car (Santro)
• Cellular Phone
• Computer
• Cycle
• Furniture
• Invertor
• Machinery
• Television
• Building
• Machinery
• Generator

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.49.78
UK Pound	1	Rs.80.12
Euro	1	Rs.68.82

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	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.