MIRA INFORM REPORT

Report Date :

18.04.2012

IDENTIFICATION DETAILS

Name :	ALLEN BARNETT AND COMPANY MEDI PRIVATE LIMITED
Registered Office :	1-36-40, Plot No 51 Paigah Colony, S P Road, Secunderabad - 500003, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2010 (Partnership Firm)
Date of Incorporation :	28.07.2011
Com. Reg. No.:	075713
Capital Investment / Paid-up Capital :	Rs.0.500 Million
CIN No.: [Company Identification No.]	U74990AP2011PTC075713
TAN No.: [Tax Deduction & Collection Account No.]	HYDA12173A
PAN No.: [Permanent Account No.]	AAJCA7154M
Legal Form :	Private Limited Liability Company
Line of Business :	Distributor of Medical Devices and Medical Products.
No. of Employees :	6 (Approximately)

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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a successor of Allen Barnett and Company a partnership concern started in the year 2004. 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 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

INFORMATION PARTED BY

Name :	Mr. Ragash Menon
Designation :	Director
Contact No.:	91-8978744225
Date :	12.04.2012

LOCATIONS

Registered Office :	1-36-40, Plot No 51 Paigah Colony, S P Road, Secunderabad - 500003, Andhra Pradesh, India
Tel. No.:	91-40-40165070
Mobile No.:	91-8978744225 (Mr. Ragash Menon)
Fax No.:	91-40-40165071
E-Mail :	ragash.menon@abaco.in murali@kcms.co.in
Area :	2000 sq. ft.
Location :	Rented

DIRECTORS

Name :

Mr. Balaji Mahadevan

Designation :

Director

Address :

F2, Savithri Nivas, 517/A, Tirumala Residency, Defence Colony, Sainikpuri, Hyderabad – 500062, Andhra Pradesh, India

Date of Birth/Age :

14.08.1972

Qualification :

Graduate

Experience :

19 years

Date of Appointment :

28.07.2011

DIN No.:

03570574

Name :

Mrs. Savithri Mahadevan

Designation :

Director

Address :

F2, Savithri Nivas, 517/A, Tirumala Residency, Defence Colony, Sainikpuri, Hyderabad – 500062, Andhra Pradesh, India

Date of Birth/Age :

26.11.1948

Qualification :

Intermediate

Date of Appointment :

28.07.2011

DIN No.:

03570596

Name :

Mrs. Ritu Lal Agarwal

Designation :

Director

Address :

39-A, Flat No.201, Road No.02, Naveena Residency, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

04.01.1967

Qualification :

Post Graduate

Experience :

28 years

Date of Appointment :

28.07.2011

DIN No.:

03570587

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74990AP2011PTC075713	Allen Barnett and Company Medi Private Limited	Director	28/07/2011	28/07/2011	Active	NO
2	U85110AS2011PTC010848	East India Medisys Private Limited	Director	23/12/2011	23/12/2011	Active	NO

Name :

Mr. Thachat Ragash

Designation :

Director

Address :

H. No.20-2, Street No.4, Gautamnagar, Malakajgiri, Hyderabad – 500047, Andhra Pradesh, India

Date of Birth/Age :

14.06.1979

Qualification :

MBA-S and M

Experience :

12 years

Date of Appointment :

28.07.2011

DIN No.:

03570585

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74990AP2011PTC075713	Allen Barnett and Company Medi Private Limited	Director	28/07/2011	28/07/2011	Active	NO
2	U85110AS2011PTC010848	East India Medisys Private Limited	Director	23/12/2011	23/12/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 26.07.2011)

Names of Shareholders	No. of Shares
Balaji Mahadevan	500
Savithri Mahadevan	2000
Ritu Lal Agarwal	25000
Thachat Ragash	22500
Total	50000

BUSINESS DETAILS

Line of Business :	Distributor of Medical Devices and Medical Products.
Terms :
Selling :	Cash and Credit (120 days)
Purchasing :	Cash and Credit (60 days)

GENERAL INFORMATION

Customers :	End Users and Corporate and Hospital · Apollo Hospital
No. of Employees :	6 (Approximately)
Bankers :	· HDFC Bank Jubilee Hills, Hyderabad, Andhra Pradesh, India · Standard Chartered Bank

Banking Relations :	--
Auditors :
Name :	KCMS and Company Chartered Accountant
Address :	Flat # 201, “Manas”, 8-3-678/57, Pragathinagar, Yousufguda (PO), Hyderabad – 500045, Andhra Pradesh, India
Tel. No.:	91-9866244482
Email :	satish@kcms.co.in

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- each	Rs.0.500 Million

-------------------------------------------------------------------------------------------------------------------------------------------------------

ALLEN BARNETT AND COMPANY

(PARTNERSHIP CONCERN)

A. R. SRINIVASAN CAPITAL ACCOUNT

(RS. IN MILLIONS)

Particulars	31.03.2010	Particulars	31.03.2010
To Drawings	0.170	By Balance	0.675
To Balance	0.655	By Remuneration	0.150
Total	0.825	Total	0.825

BALAJI MAHADEVAN CAPITAL ACCOUNT

(RS. IN MILLIONS)

Particulars	31.03.2010	Particulars	31.03.2010
To Balance	0.337	By Balance	0.110
		By Remuneration	0.150
		By Cash	0.077
Total	0.337	Total	0.337

FINANCIAL DATA

[all figures are in Rupees Millions]

ALLEN BARNETT AND COMPANY

(PARTNERSHIP CONCERN)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.993	0.785	0.179
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.522	0.394	0.327
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.515	1.179	0.506
LOAN FUNDS
1] Secured Loans		0.339	0.364	0.676
2] Unsecured Loans		0.966	0.000	0.000
TOTAL BORROWING		1.305	0.364	0.676
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		2.820	1.543	1.182
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.332	0.365	0.403
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	0.811	0.401	0.239
	Sundry Debtors	2.756	0.041	0.097
	Cash & Bank Balances	0.363	0.614	0.423
	Other Current Assets	0.268	0.447	0.219
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		4.198	1.503	0.978
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	1.595	0.298	0.059
	Other Current Liabilities	0.015	0.027	0.140
	Provisions	0.100	0.000	0.000
Total Current Liabilities		1.710	0.325	0.199
Net Current Assets		2.488	1.178	0.779
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2.820	1.543	1.182

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	10.317	5.885	6.869
		Other Income	0.000	0.018	0.002
		TOTAL	10.317	5.903	6.871
Less	EXPENSES
		Cost of Goods Sold	8.658	4.939	5.481
		Consultancy Charge	0.056	0.005	0.015
		Conveyance	0.041	0.000	0.000
		Office Expenses	0.034	0.022	0.037
		Postage and Courier	0.081	0.045	0.009
		Salaries to Staff	0.188	0.156	0.378
		Sale tax Paid	0.189	0.196	0.210
		Remuneration to Partners	0.300	0.126	0.230
		Other Expenses	0.432	0.162	0.291
		TOTAL	9.979	5.651	6.651
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.338	0.252	0.220
Less/ Add	DEPRECIATION/ AMORTISATION		0.034	0.038	0.039
	PROFIT BEFORE TAX		0.304	0.214	0.181
Less	TAX		0.076	0.000	0.000
	PROFIT AFTER TAX		0.228	0.214	0.181

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.21	3.63	2.63
Net Profit Margin (PBT/Sales)	(%)	2.95	3.64	2.64
Return on Total Assets (PBT/Total Assets}	(%)	6.71	11.46	13.11
Return on Investment (ROI) (PBT/Networth)		0.20	0.18	0.36
Debt Equity Ratio (Total Liability/Networth)		1.99	0.58	1.73
Current Ratio (Current Asset/Current Liability)		2.45	4.62	4.91

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	------
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	Yes
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	No
Market Information	------
Litigations that the firm/ Promoters Involved in	------
Banking details	Yes
Banking Facility Details	No
Conduct of the Banking Account	------
Buyer visit details	------
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	-----
Major Shareholders, if available	Yes

TRADE REFERENCE:

· Apollo Hospital

· Sai Agencies

1-4-879/41/A, New Bakaram, Gandhi Nagar, Hyderabad – 500080, Andhra Pradesh, India

Mr. Srinivas - 91-9848023801

· NRI General Hospital and Medical Collage

China Kakani, Mangalagiri Mandal, Guntur District, Andhra Pradesh, India

Dr. Gopala Krishna – Rs.91-9849110541

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 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.51.66
UK Pound	1	Rs.81.80
Euro	1	Rs.67.18

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	2
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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.