MIRA INFORM REPORT

Report Date :

22.06.2012

IDENTIFICATION DETAILS

Name :	BIOGENTEK BG (INDIA) PRIVATE LIMITED
Registered Office :	106, Shahpuri Tirath Singh Tower, C-58, Community Centre, C Block, Janak Puri, New Delhi – 110 058
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.03.1998
Com. Reg. No.:	55-093006
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U74130DL1998PTC093006
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Sensors Transducers and Weighing Scales Measuring Tapes.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 12000
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively small company in its field. Its scale of activities are limited. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 :	106, Shahpuri Tirath Singh Tower, C-58, Community Centre, C Block, Janak Puri, New Delhi – 110 058, India
Tel. No.:	91-11-25573125, 25513104
Fax No.:	91-11-25513106
E-Mail :	office@biogentek.com ravindra@biogentek.com
Website :	http://www.biogentek.com
Branch Office :	Located at: · New Delhi · Chennai · Mumbai · Kolkata · Bangalore · Hyderabad · Trivandrum · Lucknow · Varanasi · Guwahati

DIRECTORS

As on 29.09.2011

Name :

Mr. Neeraj Pandey

Designation :

Director

Address :

C-8/8005, Vasant Kunj, New Delhi – 110 070, India

Date of Appointment :

30.03.1998

DIN No.:

01135827

Other Directorship:

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	U74130DL1998PTC093006	BIOGENTEK BG (INDIA) PRIVATE LIMITED	Director	13/03/1998	13/03/1998	-	Active	NO
2	U29299DL2005PTC134585	INSTRUMEK INDIA PRIVATE LIMITED	Director	31/03/2005	31/03/2005	-	Dormant	NO

Name :

Mr. Sanjay Gulati

Designation :

Director

Address :

GH9/204, Pachim Vihar, New Delhi – 110 063, India

Date of Appointment :

30.03.1998

DIN No.:

01135794

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Neeraj Pandey	5000
Sanjay Gulati	5000
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Sensors Transducers and Weighing Scales Measuring Tapes.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Canara Bank, Janakpuri, New Delhi – 110058, India

· Corporation Bank, Janakpuri, New Delhi – 110 058, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Car Loan from Bank	0.468	0.824
Overdraft from Bank	0.101	0.00
Total	0.569	0.824
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Loan from Director	0.500	0.000
Total	0.500	0.000

Banking Relations :	--
Auditors :
Name :	Rajendra Singh and Company Chartered Accountants
Address :	S-3, Pankaj Central Market, IP Extension, Patparganj, New Delhi – 110 091, India
PAN.:	AAQPS9850G

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

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		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.981	2.222	1.272
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.081	2.322	1.372
LOAN FUNDS
1] Secured Loans		0.569	0.824	0.864
2] Unsecured Loans		0.500	0.000	0.000
TOTAL BORROWING		1.069	0.824	0.864
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		4.150	3.146	2.236
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.999	1.905	1.889
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.240	0.271	0.050
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.276
	Sundry Debtors	0.531	1.360	0.316
	Cash & Bank Balances	3.482	2.999	1.469
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.674	3.907	2.628
Total Current Assets		7.687	8.266	4.689
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.670	1.923	1.767
	Other Current Liabilities	3.430	4.073	1.693
	Provisions	1.676	1.300	0.932
Total Current Liabilities		6.776	7.296	4.392
Net Current Assets		0.911	0.970	0.297
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.150	3.146	2.236

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	17.351	15.342	12.829
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	16.185	13.969	11.737
	PROFIT BEFORE TAX		1.166	1.373	1.092
Less	TAX		0.408	0.423	0.716
	PROFIT AFTER TAX		0.759	0.950	0.376
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.222	1.272	0.896
	BALANCE CARRIED TO THE B/S		2.981	2.222	1.272
	EARNINGS IN FOREIGN CURRENCY
	Export Earnings		18.321	15.554	9.406
	TOTAL EARNINGS		18.321	15.554	9.406
	Earnings Per Share (Rs.)		75.88	95.02	37.64

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.37	6.19	2.93
Return on Total Assets (PBT/Total Assets}	(%)	15.17	16.61	23.29
Return on Investment (ROI) (PBT/Networth)		0.38	0.59	0.80
Debt Equity Ratio (Total Liability/Networth)		2.20	3.14	3.20
Current Ratio (Current Asset/Current Liability)		1.13	1.13	1.07

LOCAL AGENCY FURTHER INFORMATION

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	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
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

CONTINGENT LIABILITY:

Particulars	31.03.2011 (Rs. in millions)
Guarantees furnished by Bank remaining unexpired backed by personal guarantee of Directors of the Company and against which Fixed Deposit of the Company. Rs.1.497 millions are held as security.	1.822

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74130DL1998PTC093006
Name of the company	BIOGENTEK BG (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	306, Shahpuri Tirath Singh Tower, C-58, Community Centre, C Block, Janak Puri, New Delhi – 110 058, India E-Mail: ravindra@biogentek.com
This form is for	Creation of charge
Type of charge	Floating Charge
Particular of charge holder	Corporation Bank, Janakpuri, New Delhi – 110 058, India E-Mail: 0522@corpbank.co.in
Nature of instrument creating charge	Limit agreement dated 28.12.2010
Date of instrument Creating the charge	28.12.2010
Amount secured by the charge	Rs.4.100 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base Rate (8.25%)+ 4.25 i.e. 12.5% p.a. at present subject to revision from time to time. The bank reserves the right to revise the rate of interest based on gradation or other reasons. Terms of Repayment OD-running account repayable on demand subject to Annual renewal. Margin Cash Margin 15% Extent and Operation of the charge As per agreement attached.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Officer Premises No. 8, IInd Floor, Kris Korner Commercial Plaza, Survey No. 176/9, 178/3 to 8, 179/4/1, 179/7, Village Kavesar, Opposite Swastik Residency, off. Ghodbunder, Thane (West) - Maharashtra - (India)

FIXED ASSETS:

· Furniture and Fixture

· Car

· Computer

· Office Equipments

· Cycle

· Scooter

WEBSITE DETAILS:

PROFILE:

Biogentek, one of India 's premier biotechnology enterprise, was founded as a partnership company in 1993 with the objective to be one of the most trusted partners towards Laboratory Research and biopharma production in collaboration with some of the best manufacturers of the below said product line in the world. In 1998, it was incorporated as a Private limited company "Subject".

Biogentek, as on date, is a team of over 50 Professionals, providing sales and services support all over the country with Headquarters in New Delhi and branches in Lucknow, Mumbai, Pune, Ahmedabad, Hyderabad, Bengaluru, Thiruvananthapuram, Bhubaneshwar and Guwahati. It is their constant endeavor to be one of the best service providers to their valued users all over the country and to grow with their respective partnering companies / Principal companies.

Ever since its inception, they at Biogentek, have truly been working with the philosophy of “Total Customer Satisfaction”, may it be by virtue of instrumentation supplied or the related after sales services rendered to their valued customers. For us, every user of ours has been a milestone achieved in their quest to excel in terms of support.

A dedicated team of their service personnel always in pursuit of excelling through their relentless efforts are available at the services of their valued customers at all times, especially in situations, when the researcher or the production house is in need of some emergency assistance.

Their association with their esteemed users over the years and their laudable and worthy suggestions henceforth, have provided us with the necessary momentum to keep ourselves continuously upgraded and be associated with remarkably high quality product lines from all over the Europe and the United States.

Some of their important associate / principal companies as represented by us are : Kuhner AG, Switzerland for shakers and incubator shakers, LEEC Limited., UK for the CO₂ incubators, Nexcelom Biosciences USA for automatic Cell counters, Applikon Biotechnology Holland for Bioreactors - from Micro Scale to production scale, Lab scale and Scale up tools, Labconco Corporation USA for freeze dryers, speedvac concentrators, biological safety cabinets, Rotary evaporators, water purification systems, Glove boxes, hepa filtered controlled atmosphere PCR enclosures etc.

While the company with its sustained endeavors would continue to enhance its impetus in the biotechnology business, due emphasis to keep pace with the dynamically changing requirements of the research and production community, especially the Biopharmaceutical World (where India is readying itself to face the challenges of the Patent regime) in the long term, emerges as the key anchor of their future growth.

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 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.56.41
UK Pound	1	Rs.88.44
Euro	1	Rs.71.52

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		31

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.