MIRA INFORM REPORT

Report Date :

19.06.2012

IDENTIFICATION DETAILS

Name :	SJ DEVICE PRIVATE LIMITED
Registered Office :	385/1 Keyatala Lane, 2nd Floor, PS Lake, Kolkata - 700029, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	31.01.1998
Com. Reg. No.:	21-086307
Capital Investment/ Paid-up Capital:	Rs.0.498 Million
CIN No.: [Company Identification No.]	U51909WB1998PTC086307
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Medical Equipments and Accessories
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 29000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses records by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. 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

LOCATIONS

Registered Office :	385/1 Keyatala Lane, 2nd Floor, PS Lake, Kolkata - 700029, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	eurocor.india@gmail.com

DIRECTORS

As on: 30.09.2011

Name :

Mr. Neeraj Joshi

Designation :

Director

Address :

33. T.C. Road, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

22.12.1971

Date of Appointment :

13.01.1998

DIN No.:

01722864

Other Directorships :

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	U51909WB1998PTC086307	SJ DEVICE PRIVATE LIMITED	Director	13-01-98	13-01-98	-	Active	NO
2	U51397WB2003PTC096727	VASCULAR DEVICES PRIVATE LIMITED	Director	08-08-03	08-08-03	24-12-07	Active	YES
3	U24240WB2005PTC103896	PHOENIX CARDIO CARE INDIA PRIVATE LIMITED	Director	01-11-05	01-11-05	-	Active	NO
4	U51397WB2001PTC093255	EXCEL CARDIO CARE PRIVATE LIMITED	Director	05-04-08	05-04-08	-	Active	YES

Name :

Mr. Tejinder Pal Singh

Designation :

Director

Address :

1D, Prince Gulam Mohammed Shah Road, Kolkata – 700095, West Bengal, India

Date of Birth/Age :

28.04.1972

Date of Appointment :

01.11.2006

DIN No.:

00168364

Other Directorships :

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	U51909WB1998PTC086307	SJ DEVICE PRIVATE LIMITED	Director	13-01-98	13-01-98	-	Active	NO
2	U51397WB2001PTC093255	EXCEL CARDIO CARE PRIVATE LIMITED	Director	01-06-01	01-06-01	-	Active	YES
3	U51397WB2003PTC096727	VASCULAR DEVICES PRIVATE LIMITED	Director	08-08-03	08-08-03	26-12-07	Active	YES
4	U24240WB2005PTC103896	PHOENIX CARDIO CARE INDIA PRIVATE LIMITED	Director	01-11-05	01-11-05	-	Active	NO
5	U52312WB2005PTC104011	SILVERLINE CARDIAC CARE PRIVATE LIMITED	Additional director	17-07-08	17-07-08	-	Strike off	NO

Name :

Ms. Tejinder Kaur

Designation :

Director

Address :

1D, Prince Gulam Mohammed Shah Road, Kolkata – 700095, West Bengal, India

Date of Birth/Age :

10.02.1976

Date of Appointment :

01.01.2004

Name :

Ms. Jyoti Joshi

Designation :

Director

Address :

33. T.C. Road, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

13.11.1973

Date of Appointment :

01.04.2004

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Tejinder Pal Singh	15600
Neeraj Joshi	19600
Kuljinder Pal Singh	12600
Jyoti Joshi	1500
Tejinder Kaur	500
Nandini Joshi	5
Tarachand Joshi	5
Total	49810

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2011

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Medical Equipments and Accessories

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Oriental Bank of Commerce

Facilities :

(Rs. In Millions)

Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Bank	0.000	0.299
Total	0.000	0.299

Banking Relations :	--
Auditors :
Name :	Kailash B Goel and Company Chartered Accountants
Address :	70, Ganesh Chandra Avenue, 1st Floor, Kolkata - 700013, West Bengal, India
Tel. No.:	91-33-22151938
E-Mail :	kbgco@yahoo.co.in
PAN No.:	AAFFK5172J

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.10/- each	Rs.2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
49810	Equity Shares	Rs.10/- each	Rs.0.498 Million

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		0.498	0.498	0.498
2] Share Application Money		6.600	6.600	6.600
3] Reserves & Surplus		0.600	0.600	0.600
4] (Accumulated Losses)		(0.347)	(0.217)	(0.158)
NETWORTH		7.351	7.481	7.540
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.082
2] Unsecured Loans		0.000	0.299	0.644
TOTAL BORROWING		0.000	0.299	0.726
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.351	7.780	8.266
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.224	0.298	0.397
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		8.100	8.100	8.100
DEFERREX TAX ASSETS		0.000	0.037	0.040
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.500	0.788
	Cash & Bank Balances	0.032	0.041	0.020
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.007	0.007	0.127
Total Current Assets		0.039	0.548	0.935
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	1.007	1.189	1.192
	Other Current Liabilities	0.000	0.009	0.009
	Provisions	0.005	0.005	0.005
Total Current Liabilities		1.012	1.203	1.206
Net Current Assets		(0.973)	(0.655)	(0.271)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.351	7.780	8.266

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		0.000
		Other Income		0.171
		TOTAL	0.989	0.171	1.544
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	1.081	0.228	1.565
	PROFIT/ (LOSS) BEFORE TAX		(0.092)	(0.057)	(0.021)
Less	TAX		0.037	0.003	(0.003)
	PROFIT/ (LOSS) AFTER TAX		(0.129)	(0.060)	(0.018)
	Earnings/ (Loss) Per Share (Rs.)		(2.59)	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(13.04)	(35.09)	(1.17)
Return on Total Assets (PBT/Total Assets}	(%)	(34.98)	(6.74)	(1.58)
Return on Investment (ROI) (PBT/Networth)		(0.01)	(0.01)	0.00
Debt Equity Ratio (Total Liability/Networth)		0.14	0.19	0.26
Current Ratio (Current Asset/Current Liability)		0.04	0.46	0.78

LOCAL AGENCY FURTHER INFORMATION

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

FINANCIAL RESULTS

There was a loss of Rs 0.092 Millions During the year.

OPERATIONS:

The operations in the Year have not been satisfactory, mainly due to the recessionary trend in the Industry.

FIXED ASSETS:

· Furniture and Fixture

· EPBX

· Fax Machine

· Mobile phone

· Computers

· Motor Car

· Air Conditioner

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.55.60
UK Pound	1	Rs.87.34
Euro	1	Rs.70.66

INFORMATION DETAILS

Report Prepared by :

VRN

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	2
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.