1. Summary Information

		Country	India
Company Name	LOK-BETA PHARMACEUTICALS (INDIA) PRIVATE LIMITED	Principal Name 1	Mr. Alok Kumar
Status	Satisfactory	Principal Name 2	Mrs. Shakuntala Awadhesh Sinha
		Registration #	11-135577
Street Address	324, Corporate Centre, Nirmal Life Style, LBS Marg, Mulund (West), Mumbai – 400080, Maharashtra
Established Date	18.04.2002	SIC Code	--
Telephone#	91-22-25901729/41194567 (100 Lines)	Business Style 1	Manufacturer
Fax #	91-22-25901730	Business Style 2	Trader
Homepage	www.lokbetapharma.com	Product Name 1	Bulk Drugs
# of employees	Not Available	Product Name 2	Anti Infective Pharmaceuticals
Paid up capital	Rs.1,886,000/-	Product Name 3	--
Shareholders	Foreign Holdings (40.00%) Directors or relatives of Directors (60.00%)	Banking	State Bank of India
Public Limited Corp.	NO	Business Period	10 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (47)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	398,621,000	Current Liabilities	271,100,000
Inventories	12,957,000	Long-term Liabilities	52,718,000
Fixed Assets	21,904,000	Other Liabilities	24,309,000
Deferred Assets	0,000	Total Liabilities	348,127,000
Invest& other Assets	2,254,000	Retained Earnings	85,723,000
		Net Worth	87,609,000
Total Assets	435,736,000	Total Liab. & Equity	435,736,000
Total Assets (Previous Year)	393,996,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	459,914,000	Net Profit	18,191,000
Sales(Previous yr)	254,227,000	Net Profit(Prev.yr)	5,253,000

MIRA INFORM REPORT

Report Date :

07.01.2012

IDENTIFICATION DETAILS

Name :	LOK-BETA PHARMACEUTICALS (INDIA) PRIVATE LIMITED
Registered Office :	324, Corporate Centre, Nirmal Life Style, LBS Marg, Mulund (West), Mumbai – 400080, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	18.04.2002
Com. Reg. No.:	11-135577
Capital Investment / Paid-up Capital :	Rs.1.886 Millions
CIN No.: [Company Identification No.]	U24230MH2002PTC135577
TAN No.: [Tax Deduction & Collection Account No.]	MUML03758G
PAN No.: [Permanent Account No.]	AAACL7288G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Bulk Drugs and Anti Infective Pharmaceuticals.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 350000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for 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 – 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

LOCATIONS

Registered Office :	324, Corporate Centre, Nirmal Lifestyle, LBS Marg, Mulund (West), Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-25901729/41194567 (100 Lines)
Fax No.:	91-22-25901730
E-Mail :	accounts@lokbetapharma.com lokbeta@lokbetapharma.com info@lokbetapharma.com
Website :	www.lokbetapharma.com

DIRECTORS

As on 30.09.2010

Name :

Mr. Alok Kumar

Designation :

Managing director

Address :

705, B Wing, Vardhaman Vatika, Opposite Tatvagyan Vidyapith, Ghodbunder Road, Thane (West) – 400607, Maharashtra, India

Date of Appointment :

18.04.2002

DIN No.:

00566358

Other Directorship :

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
U24230MH2002PTC135577	Lok-Beta Pharmaceuticals (India ) Private Limited	Managing director	18/04/2002	18/04/2002	-	Active	NO
U24230MH2003PTC139202	J Duncan Healthcare Private Limited	Director	4/11/2003	4/11/2003	-	Active	NO
U24230MH2004PTC147141	Bioveeta Laboratories Private Limited	Director	24/06/2004	24/06/2004	28/12/2010	Active	NO
U24231MH2006PTC161334	Emprocell Clinical Research Private Limited	Director	24/04/2006	24/04/2006	-	Active	NO
U24239MH2006PTC165038	Lokbeta Laboratories Private Limited	Director	3/10/2006	3/10/2006	-	Active	YES
U24100MH2011PTC214319	Biosyntez Laboratories Private Limited	Managing director	3/03/2011	3/03/2011	-	Active	NO

Name :

Mr. Vladimir Evstakhievich Babiy

Designation :

Director

Address :

Flat No. 215, St. Nametkina, 9 Moscow, Russia

Date of Appointment :

10.05.2006

DIN No.:

02877333

Other Directorship :

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
U24231MH2006PTC161334	Emprocell Clinical Research Private Limited	Director	9/05/2006	9/05/2006	-	Active	NO
U24230MH2002PTC135577	Lok-Beta Pharmaceuticals (India ) Private Limited	Director	10/05/2006	10/05/2006	-	Active	NO

Name :

Mrs. Shakuntala Awadhesh Sinha

Designation :

Director

Address :

705, B Wing, Vardhaman Vatika, Opposite Tatvagyan Vidyapith, Ghodbunder Road, Thane (West) – 400607, Maharashtra, India

Date of Appointment :

18.04.2002

DIN No.:

02339170

Name :

Mr. Satyakam Kiran Kashyap

Designation :

Whole-time director

Address :

Flat No. 15, Nisarg Tapovan, Patalipada, Ghodbunder Road, Thane (West) – 400607, Maharashtra, India

DIN No.:

00589984

Other Directorship :

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
U24230MH2002PTC135577	Lok-Beta Pharmaceuticals (India ) Private Limited	Whole-time director	18/04/2002	18/04/2002	-	Active	NO
U24230MH2003PTC139202	J Duncan Healthcare Private Limited	Director	18/02/2003	18/02/2003	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Eurostate Corporation Limited, U.K	75424
Alok Kumar	113146
Total	188570

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	40.00
Directors or relatives of Directors	60.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Bulk Drugs and Anti Infective Pharmaceuticals.

Products :

PRODUCT DESCRIPTION	ITEM CODE NO.
Pharmaceutical Products	3004

PRODUCTION STATUS AS ON 31.03.2010

Particulars	Unit	Actual Production
Tablets and Capsules	Nos.	528000
Injections – Vials	Nos.	4708524
Syrup – Bottles	Nos.	--
Others	--	--

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Wagle Industrial Estate Branch, Thane (West) – 400601, Maharashtra, India

· ICICI Bank Limited

· HDFC Bank Limited

· Kotak Mahindra Bank Limited

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
(A) From Banks
Term Loans
ICICI Bank Limited	0.023	0.282
HDFC Bank Limited (Secured against hypothecation of Motor Cars) (Repayable within one year Rs.0.336 Millions Previous Year Rs.0.536 Millions)	1.262	1.539
State Bank of India (Secured against Equitable Mortgage by deposit of title deeds of office premises) (Repayable within one year RS.0.795 Million, Previous Year Rs.1.050 Millions)	0.795	1.845
Short Term Borowings State Bank of India
Export Packing Credit	43.503	47.731
Cash Credit	1.597	10.831
(All the above loans are secured against hypothecation of Stock of Raw Materials, Packing Materials, Consumable Stores and Spares, Finished Goods, Book Debts and Receivable and Other Current Assets and Lien on FDs and are additionally secured by personal guarantee of one Director of the Company)
(B) From Others
Mahindra Finance Limited – Car Loan (Secured against hypothecation of a Motor Car) (Repayable within one year Rs.0.128 Million, Previous Year Rs.0.121 Million)	0.128	0.249
Total	47.308	62.477
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Short Term Loans
From Directors	0.310	0.310
From Others	0.815	0.920
Other Loans
From Banks :
HDFC Bank Limited	0.345	1.268
Kotak Mahindra Bank Limited	0.345	1.074
From Others : Kotak Mahindra Prime Limited	3.595	0.000
Total	5.410	3.572

Financial Institute :	· Mahindra Finance Limited · Kotak Mahindra Prime Limited
Banking Relations :	--
Auditors :
Name :	Harivadan K Shah and Company Chartered Accountants
Address :	308, Paradise Tower, Gokhale Road, Naupada, Thane – 400602, Maharashtra, India
Tel No.:	91-22-67934379
Mobile No.:	91-9869019308
Email :	ca_hkshah@yahoo.com
PAN.:	AEEPS5233F

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
188570	Equity Shares	Rs.10/- each	RS.1.886 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		1.886	1.886	1.886
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		85.723	67.532	62.279
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		87.609	69.418	64.165
LOAN FUNDS
1] Secured Loans		47.308	62.477	41.317
2] Unsecured Loans		5.410	3.572	1.050
TOTAL BORROWING		52.718	66.049	42.367
DEFERRED TAX LIABILITIES		0.349	0.000	0.282
TOTAL		140.676	135.467	106.814
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		21.904	23.948	35.461
Capital work-in-progress		0.744	0.580	0.580
INVESTMENT		1.510	1.510	1.683
DEFERREX TAX ASSETS		0.000	2.540	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.957	14.598	20.829
	Sundry Debtors	270.770	240.472	17.179
	Cash & Bank Balances	31.686	30.609	179.575
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	96.165	79.715	66.229
Total Current Assets		411.578	365.394	283.812
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	267.538	214.278	177.908
	Other Current Liabilities	3.562	2.341	6.556
	Provisions	23.960	41.910	30.306
Total Current Liabilities		295.060	258.529	214.770
Net Current Assets		116.518	106.865	69.042
MISCELLANEOUS EXPENSES		0.000	0.024	0.048
TOTAL		140.676	135.467	106.814

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales and Operational Income	459.914	254.227	276.043
		Other Income	NA	NA	2.646
		TOTAL (A)	NA	NA	278.689
Less	EXPENSES
		Increase/ (Decrease) in stock of Finished Goods and WIP			4.556
		Material Consumed			93.822
		Manufacturing Expenses	NA	NA	16.180
		Administrative Expenses			116.907
		Employees Remuneration and Benefits			16.691
		Miscellaneous Expenditure Written off			0.024
		TOTAL (B)	NA	NA	248.180
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		36.944	25.992	30.509
Less	FINANCIAL EXPENSES (D)		6.453	8.961	6.231
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		30.491	17.031	24.278
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.413	2.266	2.160
	PROFIT BEFORE TAX (E-F) (G)		28.078	14.765	22.118
Less	TAX (H)		9.887	9.512	9.270
	PROFIT AFTER TAX (G-H) (I)		18.191	5.253	12.848
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	43.521
	BALANCE CARRIED TO THE B/S		NA	NA	56.369
	EARNINGS IN FOREIGN CURRENCY
		FOB value of Export of Goods	378.399	209.971	246.146
	TOTAL EARNINGS		378.399	209.971	246.146
	IMPORTS
		Raw Materials	108.940	41.300	39.611
		Traded Goods	12.341	0.000	0.000
	TOTAL IMPORTS		121.281	41.300	39.611
	Earnings Per Share (Rs.)		96.47	27.86	77.07

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	NA	NA	4.61
Net Profit Margin (PBT/Sales)	(%)	6.10	5.81	8.01
Return on Total Assets (PBT/Total Assets}	(%)	6.48	3.79	6.93
Return on Investment (ROI) (PBT/Networth)		0.32	0.21	0.34
Debt Equity Ratio (Total Liability/Networth)		3.97	4.67	4.01
Current Ratio (Current Asset/Current Liability)		1.39	1.41	1.32

LOCAL AGENCY FURTHER INFORMATION

Operations

Though through out the period under report, the recessionary economic conditions continued to prevail globally and also in the markets where the company operates, however vigorous marketing efforts coupled with timely delivery of quality products helped the company to increase its total sales from Rs.254.200 Millions in 2008-09 to Rs.459.900 Millions registering sales growth of 80.91% during the year under reports. The profit after taxation for the year under report also increased from Rs.5.300 Millions in 2008-09 Rs.18.200 Millions in 2009-10 showing growth of 246.27% during the year under report. The directors are taking all the required steps to give further thrust to sales growth and profitability and accelerate the tempo of growth and profitability as it could achieve in earlier years.

Future Growth

Land has been acquired at Goa to Set up Anti – Cancer facilities for which the modalities are being worked out.

FORM 8

This form is for	Modification of charge
Charge identification number of the modified	90146777
Corporate identity number of the company	U24230MH2002PTC135577
Name of the company	LOK-BETA PHARMACEUTICALS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	324, Corporate Centre, Nirmal Life W Style, LBS Marg, Mulund (West), Mumbai – 400080, Maharashtra, India
Type of charge	Immovable Property
Particular of charge holder	State Bank of India, Wagle Industrial Estate Branch, Thane (West) – 400601, Maharashtra, India Email Id : kamalax_saraf@hotmail.com
Nature of description of the instrument creating or modifying the charge	a) No instrument. memorandum for recording creation of mortgage by deposit of title deeds (SME-5) b) letter of confirmation for creation of mortgage by deposit of title deeds (SME-6) Both the above agreements constitute a single modification
Date of instrument Creating the charge	21.06.2008
Amount secured by the charge	Rs.93.100 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanction terms Terms of Repayment As per sanction terms Margin As per sanction terms Extent and Operation of the charge As per sanction terms Others Not Applicable
Short particulars of the property charged	A first charge by way of hypothecation of the borrowers entire goods, movables and other assets present and future including documents of title to goods and other assets, such as book-debts outstanding moneys, receivables, including receivables by way of cash assistance and/or cash incentives under the cash incentive scheme or any other scheme, claims, including claims by way of refund of customs/excise duties under the duty drawback credit scheme, or any other scheme
Date of latest modification prior to the present modification	21.06.2008
Particulars of the present modification	Now by the present mod9fication dated 21.6.2008 the company offered collateral security by way of an equitable mortgage by deposit of title deeds over the immovable property to secure the credit facilities of Rs.93.100 Millions

FIXED ASSETS

· Land

· Office Premises

· Air Conditioner

· Computer and Printers

· Fax Machine

· Furniture and Fixtures

· Motor Car

· Office Equipment

· Refrigerator

· Xerox Machine

· Plant and Machinery

· Moulds and Dies

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.52.78
UK Pound	1	Rs.81.79
Euro	1	Rs.67.46

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

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.