MIRA INFORM REPORT

Report Date :

12.01.2012

IDENTIFICATION DETAILS

Name :	SCILLA BIOTECHNOLOGIES LIMITED (w.e.f. 15.09.2008)
Formerly Known As :	SCILLA BIOTECHNOLOGIES PRIVATE LIMITED
Registered Office :	301, IIIrd Floor, Balaji Plaza Bhera Enclave, Paschim Vihar, New Delhi – 110087
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	13.10.2004
Com. Reg. No.:	55-129869
Capital Investment / Paid-up Capital :	Rs.2.500 Millions
CIN No.: [Company Identification No.]	U2423DL2004PLC129869
TAN No.: [Tax Deduction & Collection Account No.]	DELS26113D
PAN No.: [Permanent Account No.]	AAICS5592A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader and Exporter of Pharmaceuticals Products.
No. of Employees :	80 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 10000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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 :	Mrs. Jyoti
Designation :	Assistant Executive
Contact No.:	91-11-25252831
Date :	05.01.2012

LOCATIONS

Registered Office :	301, IIIrd Floor, Balaji Plaza Bhera Enclave, Paschim Vihar, New Delhi – 110087, India
Tel. No.:	91-11-25252830/25252831/25252832
Mobile No.:	91-9311222224 (Mrs. Jyoti)
Fax No.:	91-11-45605988
E-Mail :	info@scillabiotechindia.com jyotisharma@scillaindia.com manojved_company@rediffmail.com
Website :	www.scillabiotechindia.com
Area :	1000 Sq. ft
Location :	Owned
Factory :	319-20-21-22, Block F, Plot No.6, Vardhman Plaza, LSC, Bhera Enclave, Paschim Vihar, New Delhi – 110087, India
Tel. No.:	91-11-42340848 / 25288087 / 25277800
Branch :	Plot No.24, Sector 6A, Sidkul, Haridwar
Other Branches :	Located at - Delhi and Mumbai

DIRECTORS

As on 30.09.2010

Name :

Mr. Amit Kumar Singh

Designation :

Director

Address :

House No.930, Block-17, Lodhi Colony, New Delhi - 110003, India

Date of Birth/Age :

03.07.1980

Date of Appointment :

13.10.2004

DIN No.:

00996528

Name :

Mr. Nupur Sharma

Designation :

Director

Address :

A-2/263, Paschim Vihar, New Delhi - 110063, Delhi, India

Date of Birth/Age :

18.12.1979

Date of Appointment :

13.10.2004

DIN No.:

01338516

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
U24232DL2004PLC129869	Scilla Biotechnologies Limited	Director	13/10/2004	13/10/2004	-	Active	NO
U51227DL2008PTC173303	Dev Norman Exports Private Limited	Director	29/01/2008	29/01/2008	-	Active	YES
U33100DL2008PTC177045	Oligarch Healthcare Private Limited	Director	22/04/2008	22/04/2008	-	Active	YES

Name :

Mr. Arunkumar Sharma

Designation :

Director

Address :

A-2/263, Paschim Vihar, New Delhi - 110063, Delhi, India

Date of Birth/Age :

10.01.1969

Date of Appointment :

07.02.2008

DIN No.:

02020952

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
U24232DL2004PLC129869	Scilla Biotechnologies Limited	Director	7/02/2008	7/02/2008	-	Active	NO
U33100DL2008PTC177045	Oligarch Healthcare Private Limited	Director	22/04/2008	22/04/2008	-	Active	YES

KEY EXECUTIVES

Name :	Mrs. Jyoti
Designation :	Assistant Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Amit Kumar Singh	115000
Nupur Sharma	115000
Arun Kumar Sharma	20000
Total	250000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Exporter of Pharmaceuticals Products.
Exports :
Products :	Pharmaceuticals Products
Countries :	· Middle East · European Countries
Terms :
Selling :	Cash/ Credit
Purchasing :	Cash/ Credit

GENERAL INFORMATION

Customers :	Wholesalers Retailers
No. of Employees :	80 (Approximately)
Bankers :	· ICICI Bank, Meera Bagh, New Delhi, India · ICICI Bank, Paschim Vihar, New Delhi, India · ICICI Bank, Kirti Nagar, New Delhi, Delhi, India · HDFC Bank · Standard Chartered Bank · Branch Punjabi Bagh, New Delhi, Delhi, India

Banking Relations :	--
Auditors :
Name :	Manoj Ved and Company Chartered Accountants
Address :	C-7/176, Yamuna Vihar, Delhi – 110053, India
Tel. No.:	91-11-43603789/24566106
Mobile No.:	91-9810795989
E-Mail :	ca.manoj.kumar.gupta@icai.org
PAN.:	ADUPG6207G

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

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

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		2.500	2.500	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.001	0.352	0.000
4] (Accumulated Losses)		0.000	0.000	(0.042)
NETWORTH		3.501	2.852	0.058
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.072	0000	0.000
TOTAL		3.573	2.852	0.058
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.920	2.848	2.416
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	0.224	1.355	1.219
	Sundry Debtors	0.000	0.452	0.334
	Cash & Bank Balances	0.220	0.125	0.098
	Other Current Assets	0.000	0.181	0.055
	Loans & Advances	1.194	0.000	0.000
Total Current Assets		1.638	2.113	1.706
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.661	2.111	3.998
	Other Current Liabilities	0.003	0.000	0.069
	Provisions	0.357	0.040	0.000
Total Current Liabilities		1.021	2.151	4.067
Net Current Assets		0.617	(0.038)	(2.361)
MISCELLANEOUS EXPENSES		0.036	0.042	0.003
TOTAL		3.573	2.852	0.058

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales	16.724	5.836	25.423
		Construction Receipts	38.974	26.948	0.000
		Interest Income	0.000	0.014	0.000
		Profit on Sale of Mutual Fund	0.013	0.000	0.000
		TOTAL (A)	55.711	32.798	25.423
Less	EXPENSES
		Increase/ Decrease in Stock	1.132	(0.136)
		Manufacturing Expenses	48.628	20.941
		Administrative and Selling Expenses	4.554	11.124	25.289
		TOTAL (B)	54.314	31.929
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.397	0.869
Less	FINANCIAL EXPENSES (D)		0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.397	0.869	0.134
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.383	0.273	0.123
	PROFIT BEFORE TAX (E-F) (G)		1.014	0.596	0.011
Less	TAX (H)		0.364	0.202	0.000
	PROFIT AFTER TAX (G-H) (I)		0.650	0.394	0.011
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	(0.054)
	BALANCE CARRIED TO THE B/S		0.650	0.394	(0.043)
	Earnings Per Share (Rs.)

Particulars	31.03.2011
Sales Turnover (Approximately)	250.000

The above information has been parted by Mrs. Jyoti.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.16	1.20	0.04
Net Profit Margin (PBT/Sales)	(%)	6.06	10.21	0.04
Return on Total Assets (PBT/Total Assets}	(%)	22.25	12.01	0.26
Return on Investment (ROI) (PBT/Networth)		0.28	0.21	0.19
Debt Equity Ratio (Total Liability/Networth)		0.29	0.75	70.12
Current Ratio (Current Asset/Current Liability)		1.60	0.98	0.42

LOCAL AGENCY FURTHER INFORMATION

Note: The registered address of the company A-2/263, Paschim Vihar, New Delhi – 110063, India has been shifted to the present address w.e.f. 31.05.2008

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	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three year	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	No
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	No
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

FIXED ASSETS

· Air Conditioner

· Computer

· EPBX

· Fridge

· Inverter

· LCD TV

· Mobile Phone

· Office

· Plant and Machinery

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.51.75
UK Pound	1	Rs.80.01
Euro	1	Rs.65.99

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	3
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.