MIRA INFORM REPORT

Report Date :

24.01.2012

IDENTIFICATION DETAILS

Name :	J. H. BIO INNOVATIONS PRIVATE LIMITED [w.e.f. 09.01.2004]
Formerly Known As :	RIOTECH INSTRUMENTS PRIVATE LIMITED
Registered Office :	#3, 2^nd Floor, Shiovalaya Arcade, Sanjay Nagar Main Road, Sanjay Nagar, Bangalore – 560094, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	25.09.1992
Com. Reg. No.:	08-013564
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U01122KA1992PTC013564
TAN No.: [Tax Deduction & Collection Account No.]	BLRJ02027E
PAN No.: [Permanent Account No.]	AABCJ4572G
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the sales and importing of Scientific Instruments, Scientific Equipment, etc.
No. of Employees :	38 [In Office] Approximately

RATING & COMMENTS

MIRA’s Rating :

Ba [44]

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

Maximum Credit Limit :	USD 56000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well 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

INFORMATION PARTED BY

Name :	Mr. Balaji
Designation :	Accounts Manager
Contact No.:	91-80-23418944
Date :	21.01.2012

LOCATIONS

Registered Office :	#3, 2^nd Floor, Shiovalaya Arcade, Sanjay Nagar Main Road, Sanjay Nagar, Bangalore – 560094, Karnataka, India
Tel. No.:	91-80-23418944 / 45 / 46 / 23548433
Fax No.:	91-80-23418947
E-Mail :	hari@jhindia.com balaji@jhindia.com info@jhindia.com sales@jhindia.com
Website :	http://www.jhindia.com
Branches:	Located at: · Delhi · Cochin · Calcutta · Chennai · Coimbatore · Raipur · Pune · Jabalpur

DIRECTORS

As on 29.09.2011

Name :

Mr. Hari Kumar Kanchepalli

Designation :

Director

Address :

125, F1, V.K. Residency, 1^st Main, 14^th Cross, AECS layout, Sanjay Nagar, Bangalore – 560094, Karnataka, India

Date of Birth/Age :

05.06.1962

Date of Appointment :

25.09.1992

DIN :

00477441

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U01122KA1992PTC013564	J.H. BIO INNOVATIONS PRIVATE LIMITED	Director	25/09/1992	25/09/1992	Active	NO
2	U72200AP2001PTC036562	CALIBER TECHNOLOGIES PRIVATE LIMITED	Director	12/4/2001	12/4/2001	Active	NO

Name :

Mr. Srinath Kanchepalli

Designation :

Director

Address :

30, SBI Layout,II Main, Anand Nagar, Bangalore – 560032, Karnataka, India

Date of Birth/Age :

10.05.1966

Date of Appointment :

01.04.2004

DIN :

00477605

Name :

Mr. Madhusudhan Kanchepalli

Designation :

Director

Address :

125, F1, V.K. Residency, 1^st Main, 14^th Cross, AECS layout, Sanjay Nagar, Bangalore – 560094, Karnataka, India

Date of Birth/Age :

04.06.1972

Date of Appointment :

01.04.2004

DIN :

00477556

Name :

Mr. Jabeen Hussaini

Designation :

Director

Address :

68, 14^th Cross, 1^st Block, R T Nagar, Bangalore – 560032, Karnataka, India

Date of Birth/Age :

13.04.1955

Date of Appointment :

05.06.2006

DIN :

02887290

KEY EXECUTIVES

Name :	Mr. Balaji
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
K. Hari Kumar	4000
K. Srinath	3000
K. Madhusudhan	3000
Total	10000

As on 29.09.2011

Equity Share Break Up Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the sales and importing of Scientific Instruments, Scientific Equipment, etc.
Imports :
Products :	Scientific Instruments
Countries :	USA Belgium Korea
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

GENERAL INFORMATION

Suppliers :

• Thermo Electro Scientific Equipments

Customers :

End Users

• Biocon
• GKVK Bangalore

No. of Employees :

38 [In Office] Approximately

Bankers :

• Punjab National Bank, Bangalore, Karnataka, India
• Axis Bank Limited, Ground Floor, No.174, MLA Layout, R T Nagar Main Road, R T Nagar, Bangalore - 560032, Karnataka, India

Facilities :

Cash Credit : Rs. 18.000 millions [From Punjab National Bank]

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Bank Overdraft with axis bank [secured against stocks and debtors and collateral security of property of a director]	11.685	10.168
Total	11.685	10.168
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From NBFC	0.000	0.660
From Banks	3.604	1.358
From Directors and Relatives	1.250	1.250
From Oters	0.000	0.355
Total	4.854	3.623

Banking Relations :	--
Auditors :
Name :	P. Badarinath Chartered Accountants
Address :	No.142/1, 1^st Floor, Surveyor Street, Basavanagudi, Bangalore-560053, Karnataka, India
Mobile No.:	91-9844075051
E-Mail :	Badarinath_punuganti@yahoo.com
PAN :	ADAPB8683K

CAPITAL STRUCTURE

As on 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250,000	Equity Shares	Rs.10/- each	Rs.2.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs.0.100 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		3.000	1.900	0.000
3] Reserves & Surplus		10.909	9.443	6.820
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		14.009	11.443	6.920
LOAN FUNDS
1] Secured Loans		11.685	10.168	16.525
2] Unsecured Loans		4.854	3.623	5.707
TOTAL BORROWING		16.539	13.791	22.232
DEFERRED TAX LIABILITIES		0.000	0000	0.000
TOTAL		30.548	25.234	29.152
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		9.322	7.975	9.131
Capital work-in-progress		0.000	0000	0.000
INVESTMENT
DEFERREX TAX ASSETS		0.053	0.000	0.000
		0.000	0000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	5.728	4.247	1.978
	Sundry Debtors	14.547	8.340	9.269
	Cash & Bank Balances	1.523	1.317	0.415
	Other Current Assets	0.000	0000	1.189
	Loans & Advances	13.443	13.887	19.907
Total Current Assets		35.241	27.791	32.758
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.377	7.745	4.383
	Other Current Liabilities	3.112	1.800	6.713
	Provisions	0.579	0.987	1.641
Total Current Liabilities		14.068	10.532	12.737
Net Current Assets		21.173	17.259	20.021
MISCELLANEOUS EXPENSES		0.000	0000	0.000
TOTAL		30.548	25.234	29.152

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011	31.03.2010	31.03.2009
	Sales
	Income		52.756	50.058
	Other Income		18.946	22.234
	TOTAL	57.915	71.702	72.292
Less	EXPENSES	55.265	75.656	68.768 [Including Depreciation]
	PROFIT/[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION	2.650	3.954
Less/ Add	DEPRECIATION/ AMORTISATION	0.344	0.344
	PROFIT / [LOSS] BEFORE TAX	2.306	3.610	3.524
Less	TAX	0.839	0.988	1.640
	PROFIT / [LOSS] AFTER TAX	1.466	2.622	1.884
	Earnings/[Loss] Per Share (Rs.)	146.65	262.26	2.00

Expected Sales (2011-2012) : Rs.45.400 millions

The above information has been parted by Mr. Balaji [Accounts Manager].

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.53	3.66	2.61
Net Profit Margin (PBT/Sales)	(%)	NA	6.84	7.04
Return on Total Assets (PBT/Total Assets}	(%)	5.17	10.09	8.41
Return on Investment (ROI) (PBT/Networth)		0.16	0.31	0.51
Debt Equity Ratio (Total Liability/Networth)		2.18	2.12	5.05
Current Ratio (Current Asset/Current Liability)		2.51	2.64	2.57

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	-
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last two years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	-
Estimation for coming financial year	Yes
Capital the business	Yes
Details of sister concerns	-
Major Suppliers	Yes
Major Customers	Yes
Payment Terms	Yes
Export / Import Details [If Applicable]	Yes
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	No
Incorporation details, if applicable	-
Last accounts filed at ROC	-
Major Shareholders, if applicable	-

Company : the company was incorporated on 25.09.1992 with a view to carry on the business of dealing in scientific research and laboratory equipments etc. and allied services. The company has not made progress in the profits during the year as targeted. This is because of recession in and around the world.

Nature of operations : subject was incorporated on 25.09.1992 under the provisions of Companies Act 1956. the company dealing in scientific research and laboratory equipments in the field of technology, information science, weather stations etc. to its clients.

Contingent Liabilities : [As on 31.03.2011]

Bank guarantee of Rs.2.681 millions given to different organizations PSU’s Universities and other parties as performance guaranties and no guarantees is invoked during the year.

Trade References :

• Thermo Electro Scientific Equipments
• Biocon
• GKVK Bangalore

Bankers Charges Report as per Registry

Corporate identity number of the company	U01122KA1992PTC013564
Name of the company	J.H. BIO INNOVATIONS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	3, II Floor, Shivalaya Arcade, Sanjay Nagar Main Road, Sanjay Nagar, Bangalore – 560094, Karnataka, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10077358
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	Supplemental deed of hypothecation
Nature of instrument creating charge	Axis Bank Limited, Ground Floor, No.174, MLA Layout, R T Nagar Main Road, R T Nagar, Bangalore - 560032, Karnataka, India Email : s.sushma@axisbank.com
Date of instrument Creating the charge	14.02.2011
Amount secured by the charge	Rs.18.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - CC - 4.75% above Axis Bank Base Rate, presently @ 13% p.a. subject to revision from time to time Terms of Repayment – CC - Running account repayable on demand Import LC - Maximum usance upto 180 days BG - Maximum tenor of BG to be restricted to 36 months, including claim period Margin - LC/BG - 15% to be collected upfront and kept in TDR with bank's lien noted thereon Extent and Operation of the charge - The charge shall operate to the extent of the loan amount plus interest commission costs expenses and other charges thereon Others - The said amount of Rs.18.000 millions comprises CC Limit (with sublimit of BG/LC of equivalent amount i.e., Rs.18.000 millions)
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First charge by way of hypothecation of all the stock in trade both present and future consisting of stock including raw material, stock in process, finished goods, bookdebts/receivables and other current assets present and future stored at company premises at No.3, II Floor, Shivalaya Arcade, Sanjay Nagar Main road, Sanjaynagar, Bangalore 560094 or at any other place
Particulars of the present modification	By the above, the charge on stocks, bookdebts and other current assets present and future shall cover the present modified limit aggregating Rs.18.000 millions. (all other terms and condition remain unchanged)

Fixed Assets:

· Instruments

· Furniture and Fixtures

· Computer and Accessories

· Mobile Phones

· Vehicles

· Land

· Building

· Car

· Air Conditioner

· Sony Handy Cam

· UPS

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.50.24
UK Pound	1	Rs.78.12
Euro	1	Rs.64.78

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		44

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.