MIRA INFORM REPORT

Report Date :

23.07.2012

IDENTIFICATION DETAILS

Name :	COMPETENT MEDICAL SYSTEM (INDIA) PRIVATE LIMITED
Registered Office :	Interlink Business Centre, 1-E/2, Link Road, Jhandewalan, New Delhi-110055
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	11.02.2010
Com. Reg. No.:	55-198955
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U33110DL2010PTC198955
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Modular Operation Theater Equipments and Medical Gas Pipeline Systems
No. of Employees :	45 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :	Poor
Payment Behaviour :	Slow and Delayed
Litigation :	Clear
Comments :	Subject is a relatively new company having poor track. Financially the company appears to be week. The company has achieved very minimal sales and profits during 2011. Business is active. Payments are reported to be slow and delayed. Initially, the company can be considered for business dealings on a safe and secured trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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. Santosh Mishra
Designation :	Director
Contact No.:	91-9899671124
Date :	21.07.2012

LOCATIONS

Registered Office :	Interlink Business Centre, 1-E/2, Link Road, Jhandewalan, New Delhi-110055, India
Tel. No.:	Not Available
Mobile No.:	91-9899671124 (Mr. Santosh Mishra)
Fax No.:	Not Available
E-Mail :	competentmedical@gmail.com ganeshkr_ca@sify.com
Area :	800 Sq. Ft.
Location :	Rented
Corporate Office / Factory :	37 Km, Delhi Jaipur Road, Near Hero Honda Chowk, Gurgaon-122001, Haryana, India
Tel. No.:	91-124-4265430
Area :	2000 Sq. Ft.
Location :	Rented
Branch Office :	Shop No.324/325, 1^st Floor, Super Swpping Center, Sanjay Gandhi Puram, Faizabad Road, Lucknow-226016, Uttar Pradesh
Tel. No.:	91-522-4028273
Area :	100 Sq. ft.
Location :	Rented

DIRECTORS

AS ON 30.09.2011

Name :	Ms. Savita Misra
Designation :	Additional Director
Address :	House No.913, Sector-14, Gurgaon-122001, Haryana, India
Date of Birth/Age :	07.03.1970
Date of Appointment :	02.03.2010
DIN No.:	02833139
Name :	Mr. Santosh Kumar Mishra
Designation :	Director
Address :	D-277, Kurmanchal Nagar, Ghajipur, Indira Nagar, Lucknow-226010, Uttar Pradesh, India
Date of Birth/Age :	10.07.1984
Date of Appointment :	17.07.2011
DIN No.:	02850783
Name :	Ms. Punita Arora
Designation :	Additional Director
Address :	4829/24, 2^nd Floor, Ansari Road, New Delhi-110002, India
Date of Birth/Age :	17.03.1981
Date of Appointment :	02.03.2010
DIN No.:	02833127

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Savita Misra	3000
Punita Arora	3500
Santosh Mishra	3500
TOTAL	10000

AS ON 30.09.2011

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Modular Operation Theater Equipments and Medical Gas Pipeline Systems
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Suppliers :

· Metaflax India Private Limited, Himalaya

Customers :

End Users

No. of Employees :

45 (Approximately)

Bankers :

· HDFC Bank Limited, Gugaon, Haryana, India

Facilities :

Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Directors	0.400	0.500
From Others	0.100	0.000
Total	0.500	0.500

Banking Relations :	--
Auditors :
Name :	Braj Kishor Aggarwal and Company Chartered Accountant
Address :	226, 1^st Floor, Deep Plaza Complex, Opposite District Court, Gurgaon-122001, Haryana, India
Tel. No.:	91-124-2305784
Mobile No.:	91-9811283523 / 9313467670
E-Mail :	ganeshkr_ca@sify.com caakhilsingla@rediff.com
PAN No.:	AAGFB6395R

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	(0.001)
NETWORTH		0.100	0.099
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.500	0.500
TOTAL BORROWING		0.500	0.500
DEFERRED TAX LIABILITIES		0.004	0.002
TOTAL		0.604	0.601
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.054	0.050
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.516	0.322
	Cash & Bank Balances	0.028	0.574
	Other Current Assets	0.000	0.000
	Loans & Advances	0.004	0.004
Total Current Assets		0.548	0.900
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.164
	Other Current Liabilities	0.015	0.208
	Provisions	0.000	0.000
Total Current Liabilities		0.015	0.372
Net Current Assets		0.533	0.528
MISCELLANEOUS EXPENSES		0.017	0.023
TOTAL		0.604	0.601

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	0.176	0.569
		Other Income
		TOTAL	0.176	0.569
Less	EXPENSES
		Office Expenses	0.173	0.568
		Administrative Expenses
		Advertising Expenses
		TOTAL	0.173	0.568
	PROFIT BEFORE TAX		0.003	0.001
Less	TAX		(0.002)	(0.002)
	PROFIT AFTER TAX		0.001	(0.001)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.001)	0.000
	BALANCE CARRIED TO THE B/S		0.000	(0.001)
	Earnings Per Share (Rs.)		(0.10)	--

Particulars	31.03.2012
Sales Turnover (Approximately)	15.000

Expected Sales (2012-2013) : Rs. 30.000 Millions

The above information has been parted by Mr. Santosh Mishra.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	0.57	(0.18)
Return on Total Assets (PBT/Total Assets}	(%)	0.50	0.11
Return on Investment (ROI) (PBT/Networth)		0.03	0.01
Debt Equity Ratio (Total Liability/Networth)		5.19	8.83
Current Ratio (Current Asset/Current Liability)		36.53	2.42

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	Yes
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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	Yes
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	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]	PAN of Proprietor/Partner/Director, if available	No
32]	Passport No of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No

NOTE

Registered office has been shifted from 2/26, 2^nd Floor, Phase-3, New Moti Nagar, Delhi-110015, India to the present address w.e.f.22.06.2011

OPERATING RESULTS

During the year the Company registered a Total Operating Profit of Rs. 0.003 Million.

TRADE REFERENCE

· Metaflax India Private Limited, Himalaya

FIXED ASSETS

· Furniture and Fixtures

· Computers

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. 55.15
UK Pound	1	Rs. 86.57
Euro	1	Rs. 67.60

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

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

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.