MIRA INFORM REPORT

Report Date :

20.08.2012

IDENTIFICATION DETAILS

Name :	BHARAT SERUMS AND VACCINES LIMITED
Formerly Known As :	GAUTAM LABORATORIES PRIVATE LIMITED
Registered Office :	17^th Floor, Hoechst House, Nariman Point, Mumbai – 400 021, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.04.1971
Com. Reg. No.:	11-015134
Paid-Up Capital :	Rs. 100.483 Millions
CIN No.: [Company Identification No.]	U24230MH1971PLC015134
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer and Marketer of Biologicals, Biotechnology Products and Pharmaceuticals.
No. of Employees :	884 (approximately)

RATING & COMMENTS

MIRA’s Rating :

A (64)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 7100000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having good track. Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual 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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	A- (Loan Term Rating)
Rating Explanation	Having adequate degree of safety regarding timely servicing of financial obligation. It carry low credit risk.
Date	February 2012

Rating Agency Name	CARE
Rating	A2+ (Short Term Rating)
Rating Explanation	Having strong degree of safety regarding timely payment of financial obligation. It carry low credit risk
Date	February 2012

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.

LOCATIONS

Registered Office :	17^th Floor, Hoechst House, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-66560900 / 66560980
Fax No.:	91-22-66560901 / 66560903
E-Mail :	aniket.hirpara@bharatserums.com shipa.likhite@bharatserums.com
Website :	www.bharatserums.com
Corporate Office 1 /Exports :	Hoechst House, 16^th Floor, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-56560900
Fax No.:	91-22-56560901
E-Mail :	corporate@bharatserums.com export@bharatserums.com
Factory 1 :	Plot No. A-371-372, Road 27, Wagle Industrial Estate, Thane – 400604, Maharashtra, India
Tel. No.:	91-22-25822181
Fax No.:	91-22-25823640
E-Mail :	factory@bharatserums.com
Factory 2 :	Plot No. K-27, Anand Nagar, Additional M.I.D.C., Ambernath (East), Maharashtra, India
Tel. No.:	91-95251-2621645
Fax No.:	91-95251-2621089
E-Mail :	ambernath@bharatserums.com
Distribution :	Gala No. B, Plot No. 83 B2, Near Kala Industrial Estate, Opposite Shangrila Biscuit Factory, LBS Marg, Bhandup, Mumbai – 400078, Maharashtra, India
Tel. No.:	91-22-25919434
Fax No.:	91-22-25919544
Khoni Animal Farm :	At Post Khoni, Ambernath M. I. D. C. Road, Khoni-Taloja Link Road, Kalyan, Thane-421308, Maharashtra, India
Tel. No.:	91-251- 2395107

DIRECTORS

AS ON 29.09.2011

Name :	Mr. Bharat Vinod Daftary
Designation :	Chairman and Managing Director
Address :	114, Sneh Sadan, Churchgate, Reclamaion, Mumbai – 400020, Maharashtra, India
Date of Birth/Age :	12.01.1956
Date of Appointment :	05.05.1992
DIN No.:	00011518

Other Directorship:

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U24230MH1984PTC032645	HITECH LABORATORIES PRIVATE LIMITED	Director	12/04/1984	12/04/1984	-	Active	NO
2	U28113MH1988PTC047315	HAVER STANDARD INDIA PRIVATE LIMITED	Director	05/07/1989	05/07/1989	01/10/2010	Active	NO
3	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Managing director	01/10/2011	05/05/1992	-	Active	NO
4	U33110MH1993PTC075088	AKSIPRO DIAGNOSTICS PRIVATE LIMITED	Director	11/11/1993	11/11/1993	-	Active	NO
5	U24239MH1995PTC091631	AKSIGEN PHARMACEUTICALS PRIVATE LIMITED	Director	09/08/1995	09/08/1995	-	Active	NO
6	U24230MH1994PTC079029	AKSITECH LIFE SCIENCES PRIVATE LIMITED	Director	12/05/1997	12/05/1997	-	Active	NO
7	U24230MH2000PTC125061	SIRO CLINPHARM PRIVATE LIMITED	Director	21/03/2000	21/03/2000	-	Active	NO
8	U73100GJ2005PTC046914	ZYDUS BSV RESEARCH AND DEVELOPMENT PRIVATE LIMITED	Nominee director	17/10/2005	17/10/2005	-	Amalgamated	NO
9	U24230GJ2005PTC046915	ZYDUS BSV PHARMA PRIVATE LIMITED.	Nominee director	17/10/2005	17/10/2005	01/02/2012	Active	NO
10	U93090MH2006PTC165629	INVENTIV INTERNATIONAL PHARMA SERVICES PRIVATE LIMITED	Director	17/11/2006	17/11/2006	15/04/2008	Active	NO
11	U73100MH2005PTC153327	KASIAK RESEARCH PRIVATE LIMITED CN	Director	16/05/2007	16/05/2007	-	Active	NO
12	U24297MH2010PTC209352	ADVY CHEMICAL PRIVATE LIMITED	Director	22/10/2010	22/10/2010	-	Active	NO
13	U85191MH2012PTC228492	AKSI THERAPIES PRIVATE LIMITED	Director	20/03/2012	20/03/2012	-	Active	NO
14	AAA-7789	NEXTLINE DIAGNOSTICS LIMITED LIABILITY PARTNERSHIP	Designated Partner	27/01/2012	27/01/2012	-	Active	NO

Name :	Dr. Gautam Vinod Daftary
Designation :	Managing Director
Address :	114, Sneh Sadan, Churchgate, Reclamaion, Mumbai – 400020, Maharashtra, India
Date of Birth/Age :	03.10.1959
Date of Appointment :	05.05.1992
DIN No.:	00009326

Other Directorship:

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U24230MH1984PTC032645	HITECH LABORATORIES PRIVATE LIMITED	Director	12/04/1984	12/04/1984	-	Active	NO
2	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Managing director	01/10/2011	05/05/1992	-	Active	NO
3	U33110MH1993PTC075088	AKSIPRO DIAGNOSTICS PRIVATE LIMITED	Director	11/11/1993	11/11/1993	-	Active	NO
4	U24230MH1994PTC079029	AKSITECH LIFE SCIENCES PRIVATE LIMITED	Director	12/05/1997	12/05/1997	-	Active	NO
5	U24230MH2000PTC125061	SIRO CLINPHARM PRIVATE LIMITED	Director	21/03/2000	21/03/2000	-	Active	NO
6	U24239MH1995PTC091631	AKSIGEN PHARMACEUTICALS PRIVATE LIMITED	Director	09/08/2005	09/08/2005	-	Active	NO
7	U24230GJ2005PTC046915	ZYDUS BSV PHARMA PRIVATE LIMITED.	Nominee director	17/10/2005	17/10/2005	-	Active	NO
8	U73100GJ2005PTC046914	ZYDUS BSV RESEARCH AND DEVELOPMENT PRIVATE LIMITED	Nominee director	17/10/2005	17/10/2005	-	Amalgamated	NO
9	U93090MH2006PTC165629	INVENTIV INTERNATIONAL PHARMA SERVICES PRIVATE LIMITED	Director	17/11/2006	17/11/2006	15/04/2008	Active	NO
10	U73100MH2005PTC153327	KASIAK RESEARCH PRIVATE LIMITED CN	Director	16/05/2007	16/05/2007	-	Active	NO
11	U24297MH2010PTC209352	ADVY CHEMICAL PRIVATE LIMITED	Director	22/10/2010	22/10/2010	-	Active	NO
12	U85191MH2011PTC222774	ZHI HOLISTIC PRIVATE LIMITED	Director	07/10/2011	07/10/2011	-	Active	NO
13	U85191MH2012PTC228492	AKSI THERAPIES PRIVATE LIMITED	Director	20/03/2012	20/03/2012	-	Active	NO
14	AAA-7789	NEXTLINE DIAGNOSTICS LIMITED LIABILITY PARTNERSHIP	Designated Partner	27/01/2012	27/01/2012	-	Active	NO
15	AAA-9134	SYSTEMS PLUS TRANSFORMATIONS LIMITED LIABILITY PARTNERSHIP	Designated Partner	10/05/2012	10/05/2012	-	Active	NO

Name :	Mr. Ajeet Singh Karan
Designation :	Director
Address :	House No.36, Sector – 37, Arunvihar, Noida – 201 303, Uttar Pradesh, India
Date of Birth/Age :	09.12.1965
Date of Appointment :	27.09.2007
DIN No.:	00183622

Other Directorship:

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U67190DL2005PTC142001	ACE WEALTH MANAGEMENT PRIVATE LIMITED	Director	21/10/2005	21/10/2005	-	Active	NO
2	U72300PY2000PTC001532	INTEGRA SOFTWARE SERVICES PRIVATE LIMITED	Director	01/09/2009	26/10/2006	-	Active	NO
3	U74210DL2005PTC137756	COLLABIS CONSULTING PRIVATE LIMITED	Additional director	17/08/2007	17/08/2007	02/03/2009	Active	YES
4	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	29/09/2008	27/09/2007	-	Active	NO
5	U74140KA2003PTC032950	PHARMARC ANALYTIC SOLUTIONS PRIVATE LIMITED	Director	25/09/2009	09/06/2009	18/01/2012	Active	NO
6	U72200TN2003PTC051138	SECOVA ESERVICES PRIVATE LIMITED	Director	29/09/2009	01/08/2009	-	Active	NO
7	U40101TN2005PTC058237	AURO MIRA ENERGY COMPANY PRIVATE LIMITED	Director	27/08/2009	27/08/2009	-	Active	NO
8	U28991TN1981PLC009067	CETHAR LIMITED	Director	27/12/2010	22/12/2010	-	Active	NO
9	L85110KA1987PLC008739	SHILPA MEDICARE LIMITED	Director	22/09/2011	28/01/2011	-	Active	NO

Name :	Mrs. Cynthia Christine D’Souza
Designation :	Director
Address :	Sarguro Park 3, 1^st Floor, Deonar Farm Road, (Opposite Raj Kapoor’s Bunglow), Mumbai – 400 088, Maharashtra, India
Date of Birth/Age :	02.11.1953
Date of Appointment :	06.06.2008
DIN No.:	00420046

Other Directorship:

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U74140MH2000PTC127650	CYNTHESIS MANAGEMENT CONSULTANTS PRIVATE LIMITED	Director	10/07/2000	10/07/2000	-	Active	NO
2	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	29/09/2008	06/06/2008	-	Active	NO
3	U72900MH2009PTC195506	SCIEMETRIC TECHNOLOGIES INDIA PRIVATE LIMITED	Additional director	30/11/2009	30/11/2009	-	Active	NO
4	U72300MH2010PTC201680	NAYSA TECHNOLOGIES PRIVATE LIMITED	Director	05/04/2010	05/04/2010	-	Strike off	NO
5	U67120MH1996PTC098786	N.S.K.FINANCIAL AND MANAGEMENT CONSULTANCY SERVICES PRIVATE LIMITED	Director	25/02/2012	25/02/2012	28/03/2012	Active	NO

Name :	Mr. Sunny Gurparshad Sharma
Designation :	Director
Address :	10, West End Ave Apartment, 11 H, new York 10023
Date of Birth/Age :	31.08.1974
Qualification :	M.B.B.S. MBA from IIM, Bangalore
Date of Appointment :	24.03.2010
DIN No.:	02267273

Other Directorship:

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	U67120MH2008FTC186971	ORBIMED ADVISORS INDIA PRIVATE LIMITED	Managing director	24/09/2008	23/09/2008	Active	NO
2	U73100KA2004PLC035260	MANIPAL ACUNOVA LIMITED	Nominee director	30/11/2009	30/11/2009	Active	NO
3	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	16/09/2010	24/03/2010	Active	NO
4	U74999KL2006PLC019208	CONDIS INDIA HEALTHCARE LIMITED	Nominee director	03/12/2011	03/12/2011	Active	NO
5	U85110KL2007PLC020344	KIMS HEALTH CARE AND RESEARCH CENTER LIMITED	Nominee director	15/12/2011	15/12/2011	Active	NO
6	U85110KL1995PLC009336	KIMS HEALTH CARE MANAGEMENT LIMITED	Nominee director	15/12/2011	15/12/2011	Active	NO
7	U85110KL2008PTC022467	KIMS PINNACLE CANCER CARE AND RESEARCH CENTER PRIVATE LIMITED	Nominee director	27/01/2012	27/01/2012	Active	NO
8	L24117TN1976PLC007122	SHASUN PHARMACEUTICALS LIMITED	Director	02/08/2012	29/03/2012	Active	NO

Name :	Mr. Nitin Jagannath Deshmukh
Designation :	Director
Address :	Flat No. 201, Ekta Heritage, 15 Road, Khar (West), Mumbai – 400 052, Maharashtra, India
Date of Birth/Age :	07.11.1962
Qualification :	MBA (Mumbai University), Masters Degree in Pharmaceutical Technology (UDCT), Post Graduation Programme in Pharmaceutical Technology (University of Ghent, Belgium)
Date of Appointment :	21.11.2008
DIN No.:	00060743

Other Directorship:

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U73100KA2000PLC028246	METAHELIX LIFE SCIENCES LIMITED	Nominee director	02/06/2005	02/06/2005	30/12/2010	Active	NO
2	U85110KA1961PLC001433	BHARAT FRITZ WERNER LIMITED	Director	23/03/2006	23/03/2006	29/07/2009	Active	NO
3	U74210TN2002PTC049197	MACROCOMM CONVERGENCE (INDIA) PRIVATE LIMITED	Additional director	02/05/2006	02/05/2006	-	Dormant	NO
4	U31200TZ1992PTC004114	DIGITRAC POWER CONTROLS PRIVATE LIMITED	Additional director	08/06/2006	08/06/2006	-	Amalgamated	NO
5	U31200TZ1984PTC001476	DYNA SPEDE INTEGRATED SYSTEMS PRIVATE LIMITED	Nominee director	28/08/2007	08/06/2006	02/07/2009	Active	NO
6	U74210PN2002PTC017313	VLIFE SCIENCES TECHNOLOGIES PRIVATE LIMITED	Nominee director	15/06/2006	15/06/2006	-	Active	NO
7	U05121KA2002PLC031204	DHAANYA SEEDS LIMITED	Director	07/08/2006	12/07/2006	30/12/2010	Active	NO
8	U63040AP1991PTC013178	DRS LOGISTICS PRIVATE LIMITED	Director	21/02/2008	13/02/2007	18/10/2008	Active	YES
9	U24230MH2000PTC125061	SIRO CLINPHARM PRIVATE LIMITED	Nominee director	28/03/2007	28/03/2007	-	Active	NO
10	U24230GJ2005PLC047111	INTAS BIOPHARMACEUTICALS LIMITED	Director	28/09/2007	14/08/2007	11/11/2010	Active	NO
11	U73100MH1999PTC119744	RUBICON RESEARCH PRIVATE LIMITED	Director	25/08/2007	25/08/2007	-	Active	NO
12	U24231MH1995PTC085656	INDUS BIOTECH PRIVATE LIMITED	Director	24/09/2007	30/08/2007	-	Active	NO
13	U74999PN2002PLC016834	BVG INDIA LIMITED	Nominee director	31/03/2008	31/03/2008	11/01/2011	Active	NO
14	U65990MH1994PLC077472	KOTAK INVESTMENT ADVISORS LIMITED	Whole-time director	01/04/2012	01/04/2008	-	Active	NO
15	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	25/09/2009	21/11/2008	-	Active	NO
16	U85110KA2010PTC052540	MANIPAL HEALTH ENTERPRISES PRIVATE LIMITED	Nominee director	22/11/2010	22/11/2010	-	Active	NO
17	L24230AP1981PLC003201	NATCO PHARMA LIMITED	Additional director	09/02/2012	09/02/2012	-	Active	NO

Name :	Mr. Sunil Manubhai Shah
Designation :	Director
Address :	40, Yashodham Bungalows, Film City Road, Goregaon, Mumbai -400 063, Maharashtra, India
Date of Birth/Age :	06.01.1958
Date of Appointment :	B.Com (Hon), MBA (IIMA)
DIN No.:	18.06.2009
	00137105

Other Directorship:

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U65990MH1991PTC063019	EVERGREEN RESEARCH AND ASSETS MANAGEMENT PRIVATE LIMITED	Director	21/08/1991	21/08/1991	-	Active	NO
2	U67120MH2000PLC152193	HDFC SECURITIES LIMITED	Managing director	17/01/2005	17/01/2005	16/01/2008	Active	NO
3	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	25/09/2009	18/06/2009	-	Active	NO

Name :	Mr. Rohan Pradeep Shah
Designation :	Director
Address :	P-6, Godrej Glenelg, Damani House, Captain Prakash Pethe Marg, 11, CUffe Parade, Mumbai – 400005, Maharashtra, India
Date of Birth/Age :	12.01.1963
Date of Appointment :	18.06.2009
DIN No.:	00088684

Other Directorship:

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U51900MH1994PTC080486	BANSWARA TRADERS PRIVATE LIMITED	Director	19/08/1994	19/08/1994	-	Active	YES
2	L74999MH1957PLC010975	GRAUER AND WEIL (INDIA) LIMITED	Director	30/03/2004	30/03/2004	05/03/2012	Active	NO
3	U45203MH2004PTC147309	DUBAI PORTS AND FREE ZONES INTERNATIONAL (INDIA) PRIVATE LIMITED	Director	05/07/2004	05/07/2004	27/09/2007	Active	NO
4	L24390MH1976PLC019380	J B CHEMICALS AND PHARMACEUTICALS LIMITED	Director	13/05/2005	13/05/2005	05/03/2012	Active	NO
5	L34103PN1944PLC020842	PREMIER LIMITED	Director	27/06/2008	27/03/2008	-	Active	NO
6	U45200MH2007PTC168842	JAFZA DELHI BUSINESS WORLD (INDIA) PRIVATE LIMITED	Alternate director	14/04/2008	14/04/2008	-	Strike off	NO
7	U45201MH2006PTC166586	JAFZA BANGALORE BUSINESS PARK (INDIA) PRIVATE LIMITED	Alternate director	14/04/2008	14/04/2008	-	Strike off	NO
8	U45201MH2006PTC166585	INTEGRATED MUMBAI BUSINESS PARK (INDIA) PRIVATE LIMITED	Alternate director	21/04/2008	21/04/2008	-	Active	NO
9	U72900TN2006PTC061194	INTEGRATED CHENNAI BUSINESS PARK (INDIA) PRIVATE LIMITED	Alternate director	21/04/2008	21/04/2008	-	Active	NO
10	U93000MH2008PTC187354	NEW DAY EMPLOYEE TRUSTEE PRIVATE LIMITED	Director	08/10/2008	08/10/2008	-	Active	NO
11	U74140MH2009PTC191347	ELP ADVISORY SERVICES PRIVATE LIMITED	Director	31/03/2009	31/03/2009	-	Active	NO
12	U74900MH2009PTC193204	DOLBY TECHNOLOGY INDIA PRIVATE LIMITED	Director	10/06/2009	10/06/2009	02/02/2010	Active	NO
13	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	25/09/2009	18/06/2009	-	Active	NO
14	U65910MH1995PLC220528	RELIANCE CAPITAL TRUSTEE COMPANY LIMITED	Director	07/06/2010	23/02/2010	05/03/2012	Active	NO
15	U55204MH2007PTC175253	PILGRIMAGE HOTELS PRIVATE LIMITED	Director	29/09/2010	02/08/2010	-	Active	NO
16	U55101MH2009PTC189351	CHECK-INN HOTELS PRIVATE LIMITED	Director	29/09/2010	02/08/2010	-	Active	NO
17	U36911MH2002PLC138275	DIAMOND INDIA LIMITED	Director	28/09/2010	28/09/2010	-	Active	NO

Name :	Mr. Suketu Viren Shah
Designation :	Director
Address :	A/52, Darshan Apartments, Mt. Pleasant Road, Malabar Hill, Mumbai – 400006, Maharashtra, India
Date of Birth/Age :	04.12.1954
Qualification :	MBA from Harvard Business School
Date of Appointment :	22.12.2009
DIN No.:	00033407

Other Directorship:

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	Date of cessation	Company/ LLP Status	Defaulting status
1	U65920MH1982PTC027800	JYOTI SHAH PREMISES AND INVESTMENTS PRIVATE LIMITED	Director	14/07/1982	14/07/1982	-	Active	NO
2	U01100MH1982PTC029007	SUNNYDAYS AGRO COMPANY PRIVATE LIMITED	Director	10/01/1983	10/01/1983	20/12/2007	Active	NO
3	U01100MH1982PTC029006	AMIVIR AGRO COMPANY PRIVATE LIMITED	Director	23/03/1983	23/03/1983	20/12/2007	Active	NO
4	U67120MH1982PTC026490	RAJVI ENGINEERING AND INVESTMENTS PRIVATE LIMITED	Director	25/01/1984	25/01/1984	-	Active	NO
5	U67120MH1982PTC026494	KSHITIJ HOLDINGS AND ENGINEERING PRIVATE LIMITED	Director	13/11/1987	13/11/1987	-	Active	NO
6	U67120MH1982PTC026493	AKHIL INVESTMENTS AND TRADES PRIVATE LIMITED	Director	13/11/1987	13/11/1987	-	Active	NO
7	U24239MH1980PTC022904	ADONIS LABORATORIES PRIVATE LIMITED	Director	07/03/1988	07/03/1988	-	Active	NO
8	U01110MH1982PTC029008	ANANT JEEWAN AGRO COMPANY PRIVATE LIMITED	Director	28/07/1988	28/07/1988	20/12/2007	Active	NO
9	U01100MH1982PTC029005	AMAR JYOTI AGRO COMPANY PRIVATE LIMITED	Director	28/07/1988	28/07/1988	20/12/2007	Active	NO
10	L99999MH1937PLC002726	MUKAND LIMITED	Managing director	05/07/2011	03/07/1989	-	Active	NO
11	U15209WB1991PLC051980	METRO DAIRY LIMITED	Director	10/06/1991	10/06/1991	31/05/2011	Active	NO
12	U67120MH1992PLC066417	LINEAGE INVESTMENTS LIMITED	Director	17/07/1992	17/07/1992	06/02/2012	Active	NO
13	U65990MH1992PLC067166	PRIMUS INVESTMENTS AND FINANCE LIMITED	Director	18/07/1992	18/07/1992	06/02/2012	Active	NO
14	U65990MH1992PLC067732	ECONIUM INVESTMENTS AND FINANCE LIMITED	Director	24/07/1992	24/07/1992	06/02/2012	Active	NO
15	U67120MH1979PLC021418	MUKAND GLOBAL FINANCE LIMITED	Director	30/11/1992	30/11/1992	27/09/2007	Active	NO
16	U85110KA1995PLC018735	MUKAND VIJAYANAGAR STEEL LIMITED	Director	14/09/1995	14/09/1995	21/03/2012	Active	NO
17	U27106MH1968NPL014092	THE ALLOY STEEL PRODUCERS ASSOCIATION OF INDIA	Director	26/09/1997	26/09/1997	-	Active	NO
18	U85110KA1998PLC023759	HOSPET STEELS LIMITED	Director	20/05/1998	20/05/1998	-	Active	NO
19	U72200MH1990PLC056987	UTV SOFTWARE COMMUNICATIONS LIMITED	Director	07/07/2000	07/07/2000	16/03/2012	Active	NO
20	U72200DL1997FLC085765	CLICKFORSTEEL SERVICES LIMITED	Director	10/04/2001	10/04/2001	-	Active	NO
21	U51900MH1937PLC002724	JEEWAN LIMITED	Director	16/06/2001	16/06/2001	-	Active	NO
22	U15110MH2000PLC125868	GALAXY LIFESTYLE RESTAURANTS LIMITED	Director	25/06/2001	25/06/2001	-	Amalgamated	NO
23	U45400MH2008PTC179591	JLS REALTY PRIVATE LIMITED	Director	30/09/2009	29/07/2008	-	Active	NO
24	U14200MH2008PLC187216	MUKAND VINI MINERAL LIMITED	Director	15/10/2008	15/10/2008	-	Active	NO
25	U01403MH2009PTC194755	SHAHVIR AGRO PRIVATE LIMITED	Director	08/08/2009	08/08/2009	-	Active	NO
26	U74900MH2008PTC180685	LOTAN VEER SECURITY PRIVATE LIMITED	Additional director	12/10/2009	12/10/2009	04/05/2011	Active	NO
27	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Director	16/09/2010	22/12/2009	-	Active	NO
28	U13203WB2008PTC123133	ISARNAN STEEL PRIVATE LIMITED	Director	27/04/2012	27/04/2012	-	Active	NO

Name :	Mr. Siddharth Bharat Daftary
Designation :	Director
Address :	114, Sneh Sadan, Churchgate, Reclamaion, Mumbai – 400020, Maharashtra, India
Date of Birth/Age :	28.12.1983
Qualification :	B. Sc (Lifesciences), Mumbai University and M.sc (Molecular and Genetic Medicine), University of Sheffield
Date of Appointment :	22.12.2009
DIN No.:	02897197

Other Directorship:

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	U24230MH1971PLC015134	BHARAT SERUMS AND VACCINES LIMITED	Whole-time director	01/10/2011	22/12/2009	Active	NO
2	U73100MH2005PTC153327	KASIAK RESEARCH PRIVATE LIMITED CN	Additional director	18/03/2010	18/03/2010	Active	NO
3	U33110MH1993PTC075088	AKSIPRO DIAGNOSTICS PRIVATE LIMITED	Director	28/09/2010	18/03/2010	Active	NO
4	U15132MH2008PTC188318	NOSTIMIA FOODS PRIVATE LIMITED	Director	28/09/2010	18/03/2010	Active	NO
5	U24297MH2010PTC209352	ADVY CHEMICAL PRIVATE LIMITED	Director	22/10/2010	22/10/2010	Active	NO

KEY EXECUTIVES

Name :	Mr. Aniket Bavchandbhai Hirpara
Designation :	Company Secretary
Address :	B-105, Pravin Palace, Dindayal Nagar, Station Road, Vasai (West), Thane – 401202, Maharashtra, India
Date of Birth/Age :	15.07.1982
Date of Appointment :	26.12.2008
PAN No.:	ABPPH4615N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2011

Names of Equity Shareholders	No. of Shares
Vinod G. Daftary	2073954
Gaurang S Daftary	106500
Ameet S Daftary	106500
Gautam V. Daftary	1839820
Bharat V.Daftary (HUF)	785550
Gautam V. Daftary (HUF)	785550
Vinod Daftary (HUF)	750
Akshay G. Daftary Jointly with Aarti G. Daftary	750
Siddharth B. Daftary Jointly with Bhavna Daftary	750
Ansuya V. Daftary Jointly with Vinod G. Daftary	750
Nayantara H. Kothari Jointly with Sarala G. Kothari	135750
Bharat V. Daftary	1839820
Aksipro Diagnostic Private Limited – India	900000
Bharat V. Daftary Jointly with Bhavna Daftary	1906200
Gautam V. Daftary Jointly with Aarti Daftary	1906200
Aarti Daftary Jointly with Gautam Daftary	1012500
Bhavna Daftary Jointly with Bharat Daftary	1012500
Agcetech Pharmacuticals Private Limited – India	155562
Czaee Shah	71000
Gauri Pohoomul	71000
Kavita Khanna	71000
Kotak Mahindra Trusteeship Services Limited- A/c Kotak India Growth Fund II – India	1201801
Kotak India Private Equity Fund – Mauritius	407727
Kotak Investment Advisors Limited – India	29151
Raj N. Parekh	300
Caduceus Asia Mauritius Limited – Mauritius	699358
TOTAL	17120743

Names of Convertible Redeemable Preference Shareholders	No. of Shares
Kotak Mahindra Trusteeship Services Limited – A/c Kotak India Growth Fund II, India	892305
Kotak Investment Advisors Limited, India	26938
TOTAL	919243

Names of Convertible Cumulative Preference Shareholders Series I	No. of Shares
Kotak India Private Equity Fund	714119
TOTAL	714119

Names of Convertible Cumulative Preference Shareholders Series II	No. of Shares
Caduceus Asia Mauritius Limited, Mauritius	1342444
TOTAL	1342444

AS ON 29.09.2011

Equity Shares Break Up	Percentage of Holding
Venture capital	7.02
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	6.47
Bodies corporate	6.34
Directors or relatives of Directors	76.90
Other top fifty shareholders	3.27
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Marketer of Biologicals, Biotechnology Products and Pharmaceuticals.

Products :

Item Code No. (ITC Code)	Product Description
3002.10.99	Monoclonal Anti-Rho(D) Immuneglobulin
3004.39.21	Human Chorionic Gonadotrophin
3002.90.90	Anti Snake Venom Serum
3002.10.99	Monoclonal Anti-RHO (D) Immuneglobulin
3004.39.21	Human Chorionic Gonadotrophin
3002.90.90	Anit Snake Venom Serum

PRODUCTION STATUS (AS ON : 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Injections	Nos	27160000	7584930

Note: Excludes quantity produced under loan licence agreement

GENERAL INFORMATION

No. of Employees :

884 (approximately)

Bankers :

· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

· Bank of Baroda, Backbay Reclamation Branch, Churchgate, Mumbai-400021, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loans secured
Rupee term loans banks secured	367.000	320.000
Foreign currency loans secured
Foreign currency loans banks secured	61.736	109.976
Working capital loans secured
Working capital loans banks secured	373.207	156.448
TOTAL	801.943	586.424
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loans unsecured
Rupee term loans others unsecured	239.160	211.675
Hire purchase installment payable unsecured	4.313	2.490
Other debt unsecured	85.926	70.832
TOTAL	329.399	284.997

Banking Relations :	--
Auditors :
Name :	M M Nissim and Company Chartered Accountant
Address :	Barodawala Mansion, B-Wing, 3^rd Floor, 81 Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India
PAN No.:	AAAFM5103E
Joint Ventures :	Zydus BSV Pharma Private Limited
Subsidiaries :	· BSV Bioscience Inc., USA · BSV Bioscience GmbH, Germany
Associates :	· Advy Chemical Private Limited (Formerly Known as Advy Chemicals) · Aksigen Hospital Care · Kasiak Research Private Limited. · Aksigen Pharmaceuticals Private Limited · Aksipro Diagnostics Private Limited. · Siro Clinpharm Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
20987800	Equity Shares	Rs.5/- each	Rs. 104.939 Millions
200	Equity Shares	Rs.5/- each	Rs. 0.001 Million
920000	Convertible Redeemable Preference Shares	Rs.5/- each	Rs. 4.600 Millions
742000	Convertible Cumulative Series I	Rs.5/- each	Rs. 3.710 Millions
1350000	Convertible Cumulative Series II	Rs.5/- each	Rs. 6.750 Millions
	TOTAL		Rs. 120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
17120643	Equity Shares	Rs.5/- each	Rs. 85.603 Millions
100	Equity Shares	Rs.5/- each	Rs. 0.001 Million
919243	Convertible Redeemable Preference Shares	Rs.5/- each	Rs. 4.596 Millions
714119	Convertible Cumulative Series I	Rs.5/- each	Rs. 3.571 Millions
1342444	Convertible Cumulative Series II	Rs.5/- each	Rs. 6.712 Millions
	TOTAL		Rs. 100.483 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		100.483	100.483	93.562
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1689.584	1578.293	1067.558
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1790.067	1678.776	1161.120
LOAN FUNDS
1] Secured Loans		801.943	586.424	682.778
2] Unsecured Loans		329.399	284.997	238.945
TOTAL BORROWING		1131.342	871.421	921.723
DEFERRED TAX LIABILITIES		21.382	88.605	72.510
TOTAL		2942.791	2638.802	2155.353
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		842.174	902.601	843.864
Capital work-in-progress		1088.616	735.442	599.942
INVESTMENT		202.897	160.897	153.897
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	383.157	287.479	258.443
	Sundry Debtors	472.729	573.993	316.645
	Cash & Bank Balances	94.318	215.474	214.042
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	454.043	306.285	116.182
Total Current Assets		1404.247	1383.231	905.312
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	170.292	139.771	93.565
	Other Current Liabilities	269.305	263.638	209.042
	Provisions	155.546	139.960	45.055
Total Current Liabilities		595.143	543.369	347.662
Net Current Assets		809.104	839.862	557.650
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2942.791	2638.802	2155.353

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2047.495	2056.971	1492.891
		Income from Intellectual Property	--	---	67.996
		Export Entitlements	--	--	13.863
		Other Income	41.984	60.663	42.672
		TOTAL (A)	2089.479	2117.634	1617.422
Less	EXPENSES
		Consumption materials changes inventories	747.592	797.004	283.281
		Manufacturing service costs	181.899	124.549	853.846
		Employee related expenses	321.197	250.062	--
		Administrative selling other expenses	538.038	512.377	--
		Research development expenditure	62.969	55.255	--
		Purchase of Finished Goods	--	--	115.659
		Decrease is Stock	--	--	47.227
		TOTAL (B)	1851.695	1739.247	1300.013
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		237.784	378.387	317.409
Less	FINANCIAL EXPENSES (D)		69.489	95.941	116.219
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		168.295	282.446	201.190
Less/ Add	DEPRECIATION/ AMORTISATION (F)		104.236	97.084	96.311
	PROFIT BEFORE TAX (E-F) (G)		64.059	185.362	104.879
Less	TAX (H)		(67.087)	15.523	(0.048)
	PROFIT AFTER TAX (G-H) (I)		131.146	169.839	104.927
Add	TAXATION ADJUSTMENT FOR EARLIER YEARS		--	--	0.137
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		577.358	441.940	363.853
Less	APPROPRIATIONS
		Proposed Dividend	17.084	15.746	15.366
		Corporate Dividend Tax	2.771	2.675	2.611
		General Reserve	10.000	16.000	9.000
	BALANCE CARRIED TO THE B/S		678.649	577.358	441.940
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	447.640	361.392	323.550
	TOTAL EARNINGS		447.640	361.392	323.550
	IMPORTS
		Raw Materials	403.299	377.835	155.123
		Finished Goods	133.621	228.468	65.240
		Packing Materials	19.275	13.102	15.881
		Spare Parts	2.459	3.150	1.720
		Capital Goods	0.000	10.801	15.610
	TOTAL IMPORTS		558.654	633.356	253.574
	Earnings Per Share (Rs.)		7.66	9.53	5.90

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.28	8.02	6.49
Net Profit Margin (PBT/Sales)	(%)	3.13	9.01	7.03
Return on Total Assets (PBT/Total Assets}	(%)	2.85	8.11	5.99
Return on Investment (ROI) (PBT/Networth)		0.04	0.11	0.09
Debt Equity Ratio (Total Liability/Networth)		0.98	0.90	1.16
Current Ratio (Current Asset/Current Liability)		2.36	2.55	2.60

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	Yes
9]	Name of person contacted	No
10]	Designation of contact person	No
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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
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	Yes

NOTE

The Registered office of the company has been shifted from “16^th Floor, Hoechst House, Nariman Point, Mumbai – 400 021, Maharashtra, India” to present address w.e.f 27.09.2007.

MANAGEMENT DISCUSSION AND ANALYSIS:

INDUSTRY OVERVIEW:

Indian Pharmaceutical Industry, as per the latest IMS audit has recorded a turnover of Rs.548490.000 Millions with the three years compounded annual growth rate is 15%. Bio-pharmaceutical segment is estimated to be around 8000 crores growing at 25%. The growth is primarily driven by volume and new introductions. Life style therapy and preventive care therapy areas are driving the growth of the industry.

Despite the lack of clarity on issues like patent laws, data exclusivity, drug pricing policy, status of Bio-similars, etc. the industry is poised to continue its double digit growth in the coming years. The consolidation and Mergers could significantly change industry landscape.

OUTLOOK AND OPPORTUNITIES:

In 2011–12, economic growth is expected to be good. While the western markets will have a single digit growth, the Indian pharmaceutical market is expected to continue its double digit growth. The Governments health care policy continues to focus on improving the access, enhanced reach to modern medical care, and increase in public health care spend. Rural infrastructure improvement is leading to opening of not sufficiently explored rural opportunities.

Another factor which will aid the industry growth is the proliferation of corporate hospitals / hospital chains. India is recognized as a destination for quality medical care, and this is bound to improve the inflow of medical tourism.

Keeping the economic and industrial growth and the new opportunities, Company has planned the high digit growth for the year 2011 -12. The various strategic and operational measures initiated recently, combined with the portfolio of new products to be launched, will augment the rapid growth of the Company in the coming years.

On the operational side, the emphasis would be to drive the top line through profitable brands. The marketing plans are in place to achieve the set sales targets and growth. In addition, sales productivity improvement measures have been put in place to improve the per capita returns. Export business will also see a continued growth aided by a more focused approach combined with new registrations which are likely to be received during the year.

FINANCIAL PERFORMANCE REVIEW:

The Company has recorded sales of Rs.2066.000 Millions with 5.5% growth as compare to previous year. The single digit growth was mainly on account of restricted availability of Equine range of products. The situation was further compounded firstly, by delay in getting regulatory licenses which affected the launch of new products and secondly, competitive pressure of lower prices.

On the positive side, the major brands in the Hormones and Anti-D range grew very well. During the year, the Company has expanded the field staff strength and invested the resources in training of the new recruits. This investment is expected to augment the rapid growth planned for 2011-12.

During the year, the company has successfully completed the clinical trials of three (3) products.

The Company’s new API facility in Germany and formulation facility in Ambernath are now ready and would commence operations in the first quarter of 2011-12.

During 2011-12, the Company’s strategy would be two fold. One is to improve the profitability through robust sales growth along with the cost containment and second, is to focus on outlicensing agreements for their research molecules. The company is also planning to introduce few new products in coming year.

In addition, the marketing strategies are in place to drive the sales growth of the existing products. In order to meet the growing market demand of Equine range of products, the company has planned to use outsources horse farm facilities in addition to its own existing horse farm facility.

FORM 8

Corporate identity number of the company	U24230MH1971PLC015134
Name of the company	BHARAT SERUMS AND VACCINES LIMITED
Address of the registered office or of the principal place of business in India of the company	17^th Floor, Hoechst House, Nariman Point, Mumbai – 400 021, Maharashtra, India
This form is for	Modification of charge
Charge identification number of the charge to be modified	10172203
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	Bank of Baroda, Backbay Reclamation Branch, Churchgate, Mumbai-400021, Maharashtra, India
Nature of instrument creating charge	Memorandum Of Entry Creating Mortgage By Deposit Of Title Deeds
Date of instrument Creating the charge	20.03.2012
Amount secured by the charge	Rs. 360.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As Per Sanction Letter As May Be Modified From Time To Time Terms of repayment As Per Sanction Letter As May Be Modified From Time To Time Margin As Per Sanction Letter As May Be Modified From Time To Time Extent and operation of the charge First pari passu charge created by way of mortgage on company's immovable property situated at plot no. A-371 and a-372, Thane Industrial Area, Panchpakhadi, Dist. Thane and second pari passu charge created by way of mortgage on Plot No. K-27, Addl. Anmbernath Industrial Area, Villege Jambivali, Ulhasnagar, thane both present and future to secure due repayment of working capital facility of Rs.400.000 Millions along with interest and other costs.
Short particulars of the property charged (Including location of the property)	First Pari Passu Charge On Immovable Property Situated At A-371 And A-372, Thane Industrial Area, Village Panchpakadhadi, District Thane Second Pari Passu Charge On Immovable Property Situated At Plot No. K-27, Addl. Anmbernath Industrial Area, Villege Jambivali, Ulhasnagar, Thane
Particulars of the present modification	With This Modification Charge On The Immoveable Properties Of Thane Both Present And Future, Is Extended To Rs 360.000 Millions To Secure Enhanced Working Capital Limits, Also The Entire Working Capital Limit Of Rs 360.000 Millions Are Additionally Secured By Second Pari Passu Charge On Immoveable Property Of Ambernath Both Present And Future, Together With Interest And Other Charges.

FIXED ASSETS

· Leasehold Land

· Freehold Land

· Buildings

· Leasehold Improvements

· Plant and Machinery

· Furniture and Fixtures

· Office Equipment

· Live Stock

· Vehicles

· Software

· Patents

WEBSITE DETAILS

PROFILE

Since inception in 1971, BSV has worked ceaselessly to research, develop, manufacture and market specialized biological, pharmaceutical and biotechnology products.

Today, BSV is one of the fast growing Indian bio-pharmaceutical companies. The product portfolio comprises of a wide range of products such as plasma derivatives, monoclonals, hormones, equine antitoxins and serums, antifungals, anaesthetics, cardiovascular and diagnostic products.

BSV is managed by an experianced Board of Directors, who are assisted by a team of dedicated and qualified professionals drawn from various disciplines. The management team comprises of qualified doctors, professionals and postgraduates having rich experience and expertise in their respective fields.

MILESTONES

1972	Establishes Blood Bank
1972	Exports Polyclonal Sera
1976	Receives recognition by Mumbai University for Post Graduate and PhD. Studies
1978	Thane Plant operationalised for manufacture
1980	Develops Plasma fractions indigenously for therapeutic use: India attains self-sufficiency
1982	Import Substitution Awards from the Indian Government for Anti D Blood Grouping Sera Strips for detection of Diabetes
1982	Receives R and D recognition by Department of Scientific and Industrial Research, Government Of India
1996	Sets up three independent focused R and D divisions
1999	First International Product Patent Application filed
2000	Equity Investment from reputed Indian Institutional Investors recognising high value and growth potential
2001	Animal Farm at Khoni operationalised
2002	Pilot Plant For Biotechnology Products set up
2003	Ambernath Plant commissioned and Swift Division constituted for focused marketing of Institutional Products

BOARD OF DIRECTORS:

DR. VINOD G. DAFTARY

Dr. Vinod Daftary founded BSV in 1971, primarily for the manufacture and marketing of diagnostic and therapeutic products based on plasma fractions. Given his medical and scientific background, Dr. Daftary realized the need for domestic manufacturing of plasma products. Dr. Vinod Daftary holds a post graduate and doctoral degree in pathology and microbiology from the Walter Reed Hospital, Washington DC.

Dr. Daftary has won several academic and business awards including the Junior Clinical Shirvalkar Gold Medal for Medicine at G.S. Medical College in 1945, the DAHANUKAR ENTREPRENEUR AWARD of Maharashtra Chamber of Commerce for making Anti-D Immuneglobulin for the first time in India, the Certificate Award for Import Substitution for making strips for detection of albumin and glucose in urine and the Import Substitution Award for making Anti-D serum for the first time in India by the then Invention Promotion Grant of the Government of India.

His distinguished and pioneering efforts in the field of plasma products have also led to his having several prestigious scientific memberships like Fellow of the College of American Pathologists, Fellow of the International College of Surgeons, Member of the International Academy of Pathologists, Fellow of the Indian Association of Pathologists and Microbiologists and Fellow of the Indian College of Pathologists.

MR. BHARAT DAFTARY

Mr. Bharat Daftary is the Managing Director of the Company and is mainly responsible for business strategy, international alliances, sales and marketing. He has been instrumental in striking several fruitful international alliances for BSV and has over the years developed excellent relationships internationally in the biological and biotech industry.

DR. GAUTAM DAFTARY

A qualified medical doctor, Dr. Gautam Daftary is the Managing Director of BSV and spearheads the R and D activities. He also overseas the manufacturing function of the Company. He is also credited with starting the first Indian Clinical Research Company, Siro Clinpharm Private Limited. Dr. Gautam Daftary's knowledge and expertise in the fields of microbiology, oncology, allergies, psychiatrics and infectious diseases has led him to being instrumental in providing the necessary thrust in R&D at BSV.

MR. SHAHZAAD DALAL

Mr. Shahzaad Dalal is the Executive Vice Chairman of IL and FS Investment Managers Limited. Mr. Dalal is a Management Graduate with over 20 years experience. Prior to assuming this responsibility Mr. Dalal was the CEO of the Asset Management Strategic Business Unit (ASBU) of IL and FS. He is also on the Board of various IL and FS group companies such as ORIX Auto Finance India Limited, Noida Toll Bridge Company Limited etc. Mr. Dalal was earlier responsible for the overall planning and raising of resources for IL and FS and project finance for IL and FS sponsored infrastructure projects. Prior to joining IL and FS, Mr. Dalal was responsible for structured leasing and hire purchase products, marketing and credit evaluation with Industrial Credit and Investment Corporation of India Limited (ICICI).

MR. PRAKASH SHAH

Mr. Prakash Shah is a senior partner in DSK Legal and heads the Direct and Indirect Taxation, Litigation and arbitration practices. A qualified solicitor, Mr. Shah has specialized in advising on complex issues in the fields of Direct and Indirect Taxation, Intellectual Property and General Commercial Litigation. He has provided strategic legal advice and represented several large business houses and multinational companies before a wide variety of fora in diverse legal matters. Mr. Prakash Shah is an Advocate in the High Court of Bombay, a Solicitor in the Supreme Court of India and a Solicitor in the Supreme Court of England and Wales.

MR. AJEET SINGH KARAN

Mr. Ajeet Singh Karan is MBA from IIM Ahmedabad and has 25 years industry experience in various reputed organizations.

MS. CYNTHIA D'SOUZA

Ms. Cynthia D'Souza has done graduation in Pychology, Post Graduation in Human Research and has experience around 32 years in general management, strategic planning, sales and marketing and now practicing as the independent consultant.

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. 55.70
UK Pound	1	Rs. 87.54
Euro	1	Rs. 68.85

INFORMATION DETAILS

Report Prepared by :

DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		64

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.