MIRA INFORM REPORT

Report Date :

16.08.2012

IDENTIFICATION DETAILS

Name :	BEOND PHARMA LIMITED
Registered Office :	Plot No.28, 1^st Floor, Kopri Road, Sector – 19C, Vashi, Navi Mumbai – 400703, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.02.2005
Com. Reg. No.:	11-151476
Capital Investment / Paid-up Capital :	Rs.0.500 Million
CIN No.: [Company Identification No.]	U24230MH2005PLC151476
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Dealers of Drugs, Bulk Drugs, Pharmaceutical Products, Intermediates, Chemicals etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow and Delayed
Litigation :	Clear
Comments :	Subject is a company having moderated track. It has incurred heavy loss during 2011. Accumulated losses recorded by the company appears to be increasing over year. Financial position of the company is under pressure. Payment terms are unknown. The company can be considered for business dealings only on a safe and secured 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DECLINED BY

Name :	Mr. Shafik
Designation :	Accounts Manager
Contact No.:	91-22-67942222
Date :	14.08.2012

LOCATIONS

Registered Office :	Plot No.28, 1^st Floor, Kopri Road, Sector – 19C, Vashi, Navi Mumbai – 400703, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	shafiq@wanbury.com

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Satish Mahadeo Joshi

Designation :

Director

Address :

70-N, Central Avenue, Chembur, Mumbai – 400071, Maharashtra, India

Date of Birth/Age :

20.07.1960

Date of Appointment :

22.02.2005

DIN No.:

00013990

Other Directorships :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U72300MH2000PTC126586	GUNBOW INFOTECH AND DATACOM PRIVATE LIMITED	Director	05/06/2000	05/06/2000	Active	YES
2	U51900MH2000PTC123519	AKKADIAN TRADING AND MARKETING PRIVATE LIMITED	Director	15/06/2000	15/06/2000	Active	YES
3	U24110MH1995PTC086984	EXPERT CHEMICALS (INDIA) PRIVATE LIMITED	Director	06/12/2004	06/12/2004	Active	YES
4	U24230MH2005PLC151476	BEOND PHARMA LIMITED	Director	22/02/2005	22/02/2005	Active	NO

Name :

Mr. Dominic Jackie D’souza

Designation :

Director

Address :

Flat No.301, 3^rd Floor, Donammaria 51 Colony, Holy Cross Road, Borivali (West), Mumbai – 400103, Maharashtra, India

Date of Birth/Age :

12.06.1965

Date of Appointment :

30.09.2008

DIN No.:

02991246

Other Directorships :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U24230MH2005PLC151476	BEOND PHARMA LIMITED	Director	30/09/2008	01/09/2008	Active	NO

Name :

Mr. Shafiq Mohammed Shaikh

Designation :

Additional Director

Address :

Type A-2, R. No.4, Sector No.15, Vashi, Navi Mumbai -400705, Maharashtra, India

Date of Birth/Age :

24.11.1972

Date of Appointment :

30.07.2010

DIN No.:

03225371

Other Directorships :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U24230MH2005PLC151476	BEOND PHARMA LIMITED	Additional director	30/07/2010	30/07/2010	Active	NO
2	U24239MH2000PLC127301	BRAVO HEALTHCARE LIMITED	Additional director	27/08/2010	27/08/2010	Active	NO

KEY EXECUTIVES

Name :	Mr. Shafik
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Pooja S. Dalvi	10
Dhayakumar L. Surve	10
Sarita L. Kushawaha	10
Jitendra B. Pipara	20
Shafiq Mohammed Shaikh	24970
Dominic John Dsouza	24970
Ashok N. Shinkar	10
Total	50000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	99.88
Other top fifty shareholders	0.12
Total	100.00

BUSINESS DETAILS

Line of Business :

Dealers of Drugs, Bulk Drugs, Pharmaceutical Products, Intermediates, Chemicals etc.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Expert chemicals Private Limited	0.417	0.417
Bravo Healthcare Limited	121.976	113.000
Kalyan Janta	6.996	0.000
Total	129.389	113.417

Banking Relations :	--
Auditors :
Name :	V. Kannan and Associates Chartered Accountant
Address :	207, A-Wing, Kanara Business Centre, Ghatkopar-Andheri Link Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, India
Tel. No.:	91-22-67974846/ 47
Fax No.:	91-22-67974845
E-Mail :	vkannanassociate@gmail.com
PAN No.:	AAGPK6044E

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
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

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		0.500	0.500	0.500
2] Share Application Money		190.146	190.146	290.146
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(64.355)	(48.392)	(0.177)
NETWORTH		126.291	142.254	290.469
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		129.389	113.417	0.417
TOTAL BORROWING		129.389	113.417	0.417
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		255.680	255.671	290.886
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		228.263	228.263	228.263
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.176	26.755	62.058
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.729	0.625	0.522
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	26.494	0.000	0.000
Total Current Assets		27.223	0.625	0.522
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.000	0.000
	Other Current Liabilities	0.022	0.022	0.017
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.022	0.022	0.017
Net Current Assets		27.201	0.603	0.505
MISCELLANEOUS EXPENSES		0.040	0.050	0.060
TOTAL		255.680	255.671	290.886

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.321	0.158	0.000
		TOTAL	0.321	0.158	0.000
Less	EXPENSES
		Auditors Remuneration	0.022	0.030	0.009
		Conveyance	0.000	0.005	0.007
		Diminution in Investment	0.000	35.304	0.000
		Loss on sale of Investments	0.961	0.000	0.000
		Telephone Expenses	0.000	0.001	0.001
		Printing and Stationery	0.000	0.001	0.001
		Professional Fees	0.020	0.006	0.002
		Rates and taxes others	0.002	0.017	0.000
		Bank Charges	0.000	0.000	0.025
		Interests others	15.253	13.000	0.000
		ROC Fees	0.016	0.000	0.002
		Miscellaneous Expenditure W/off	0.010	0.010	0.010
		TOTAL	16.284	48.374	0.057
	PROFIT BEFORE TAX		(15.963)	(48.216)	(0.057)
Less	TAX		0.000	0.000	0.000
	PROFIT AFTER TAX		(15.963)	(48.216)	(0.057)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(48.392)	(0.176)	(0.119)
	BALANCE CARRIED TO THE B/S		(64.355)	(48.392)	(0.176)
	Earnings Per Share (Rs.)		(319.26)	--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(4972.90)	(30516.46)	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(6.25)	(21.07)	(0.02)
Return on Investment (ROI) (PBT/Networth)		(0.13)	(0.34)	0.00
Debt Equity Ratio (Total Liability/Networth)		1.02	0.80	0.00
Current Ratio (Current Asset/Current Liability)		1237.41	28.41	30.71

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

FINANCIAL RESULTS

The company has made a loss of Rs.15.963 Millions and the same has been adjusted with the balance carried forward in the profit and loss account.

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.55.64
UK Pound	1	Rs.87.31
Euro	1	Rs.68.81

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		12

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.