MIRA INFORM REPORT

Report Date :

26.05.2012

IDENTIFICATION DETAILS

Name :	RKPS HEALTHCARE PRIVATE LIMITED
Registered Office :	6-7, Pragati Estate, Near Hyundai Workshop, Sarkhej Sanand Road, Sarkhej, Ahmedabad – 382 210, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.10.2008
Com. Reg. No.:	055295
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U24230GJ2008PTC055295
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Herbal Product.
No. of Employees :	68 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 11000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Latest financial of the company (i.e 2010-11) are missing from the government department. However, trade relations are reported as fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some caution.

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. Mushirali
Designation :	Director
Contact No.:	91-9374464386
Date :	22.05.2012

LOCATIONS

Registered Office / Factory:	6-7, Pragati Estate, Near Hyundai Workshop, Sarkhej Sanand Road, Sarkhej, Ahmedabad – 382 210, Gujarat, India
Tel. No.:	91-79-32417935/26890041
Mobile No.:	91-9374464386 (Mr. Mushirali)
Fax No.:	91-79-26890556
E-Mail :	mushir.palasara@gmail.com etaxserviceit@yahoo.com
Website :	http://www.rkpshealthcare.com
Area :	5000 sq ft
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Mushirali Ahmedhusain Palasara

Designation :

Director

Address :

Rakap House, Near Library, Kanodar Palanpur, Banaskantha – 385 520, Gujarat, India

Date of Birth/Age :

21.11.1976

Date of Appointment :

23.10.2008

DIN No.:

02349517

Name :

Mr. Vajirbhai Rajemad Palasara

Designation :

Director

Address :

Rakap House, Near Library, Kanodar Palanpur, Banaskantha – 385 520, Gujarat, India

Date of Birth/Age :

15.07.1959

Date of Appointment :

23.10.2008

DIN No.:

01833375

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	U30007GJ1997PTC032660	APEXA SOFTWARES PRIVATE LIMITED	Director	14/07/1997	14/07/1997	-	Active	NO
2	U24230GJ2008PTC055295	RKPS HEALTHCARE PRIVATE LIMITED	Director	23/10/2008	23/10/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Mushirali A. Palasara	137200
Vajirbhai R. Palasara	56900
Alibhai R. Palasara	400
Asimbhai A. Palasara	400
Azharbhai V. Palasara	400
Jetunben R. Palasara	400
Kulsumben R. Palasara	400
Nurkiben A. Palasara	400
Rukaiyaben V. Palasara	400
Shammimben M. Palasara	400
Total	197300

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 :	Manufacturer of Herbal Product.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Arihant Packaging

Customers :

Wholesalers and Retailers

· Shah Enterprise

No. of Employees :

68 (Approximately)

Bankers :

Central Bank of India, HLCC Area Branch, Near Vijay Char Rasta, Navrangpura, Ahmedabad – 380 009, Gujarat, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2010	As on 31.03.2009
Central Bank of India (Secured Against Hypothecations of machinery)	0.705	0.899
Central Bank of India (Secured Against Hypothecations of Car)	0.453	0.000
Central Bank of India (Secured Against Hypothecations of Stock and Bookdebt)	3.878	0.000
Total	5.036	0.899
Unsecured Loan	As on 31.03.2010	As on 31.03.2009
From Director, Shareholders and Relatives	0.525	0.500
From Others	2.026	0.000
Total	2.551	0.500

Banking Relations :	--
Auditors :
Name :	Ambani Gupta and Jain Chartered Accountants
Address :	311, Aabhushan Complex, 17, Mahadevnagar Co-Operative Society, S.P. Stadium Road, Navrangpura, Ahmedabad – 380 014, Gujarat, India
Tel. No.:	91-79-26467011/ 30172866
Mobile No.:	91-9825019148
E-Mail :	agl_ca5@yahoo.com
PAN.:	AAEFA7500R

CAPITAL STRUCTURE

After on 30.09.2011

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
197300	Equity Shares	Rs.10/- each	Rs.1.973 Millions

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
100000	Equity Shares	Rs.10/- each	Rs.1.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		1.000	0.200
2] Share Application Money		1.315	1.315
3] Reserves & Surplus		0.669	0.020
4] (Accumulated Losses)		0.000	0.000
NETWORTH		2.984	1.535
LOAN FUNDS
1] Secured Loans		5.036	0.899
2] Unsecured Loans		2.551	0.500
TOTAL BORROWING		7.587	1.399
DEFERRED TAX LIABILITIES		0.176	0.066
TOTAL		10.747	3.000
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.085	1.674
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	4.355	0.629
	Sundry Debtors	11.587	3.443
	Cash & Bank Balances	0.108	0.678
	Other Current Assets	0.000	0.000
	Loans, Advances & Advances	0.906	0.308
Total Current Assets		16.956	5.058
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.802	3.628
	Other Current Liabilities	1.223	0.012
	Provisions	0.279	0.105
Total Current Liabilities		9.304	3.745
Net Current Assets		7.652	1.313
MISCELLANEOUS EXPENSES		0.010	0.013
TOTAL		10.747	3.000

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	40.029	5.857
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	38.751	5.750
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.278	0.107
Less/ Add	DEPRECIATION/ AMORTISATION		0.540	0.016
	PROFIT BEFORE TAX		0.738	0.091
Less	TAX		0.231	0.071
	PROFIT AFTER TAX		0.507	0.020
	Earnings Per Share (Rs.)		5.07	1.02

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	43.000 (as per Market Fluctuation)	45.000

Expected Sales (2012-2013): Rs.60.000 Millions

The above information has been parted by Mr. Mushirali - Director

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009
PAT / Total Income	(%)	1.27	0.34
Return on Total Assets (PBT/Total Assets}	(%)	4.35	1.80
Return on Investment (ROI) (PBT/Networth)		0.25	0.06
Debt Equity Ratio (Total Liability/Networth)		5.66	3.35
Current Ratio (Current Asset/Current Liability)		1.82	1.35

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	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 three years	Yes
12) Profitability for last two years	Yes
13) Reasons for variation <> 20%	Yes
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	Yes
19) Payments terms	Yes
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	No
30) Major Shareholders, if available	Yes

Note:

The registered office of the company has been shifted from 108, Aagman Complex, Mayur Colony, Near Mithakhali Under Bridge, Navrangpura, Ahmedabad – 380 009, Gujarat to the present address.

OPERATION AND BUSINESS PROSPECT:

The Company has done good business in current year. The company hope to increase and profitability in forth coming years.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U24230GJ2008PTC055295
Name of the company	RKPS HEALTHCARE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	108, Aagman Complex, Near Mithakhali Under Bridge, Navrangpura, Ahmedabad – 380 009, Gujarat, India E-Mail: etaxserviceit@yahoo.in
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	Central Bank of India, HLCC Area Branch, Near Vijay Char Rasta, Navrangpura, Ahmedabad – 380 009, Gujarat, India E-Mail: bmahme1389@centralbank.co.in
Nature of instrument creating charge	Agreement of hypothecation of tangible movable plant, machineries, stock, goods and book debts dated 26.08.2011
Date of instrument Creating the charge	26.08.2011
Amount secured by the charge	Rs.9.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit cum ODBD - BPLR - 3% Terms of Repayment CC and ODBD Limit - On Demand Margin 25% on stock and 40% on book debts. Extent and Operation of the charge Hypothecation of tangible movable plant, machineries, stock, book debts etc.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First charge on tangible movable property plant,machine,fittings,electric and other installation and other articles fixed and lying at 6-7 Pragati Estate,Sarkhej Sanand Road,Sarkhej, Ahemdabad-382210. The whole of the borrower stock both present and future and including all stocks of raw material, work in progress, semi finished goods and finished goods whatsoever and wheresoever situate. All the present and future book debts, outstanding, monies receivables, claims, bill contracts, engagements and securities.

FIXED ASSETS:

· Mobile

· Factory and Building

· Furniture and Building

· Plant and Machinery

· Logo Design

· Vehicle

· Electrical Installation

· Computer

TRADE REFERENCE

· Arihant Packaging

· Shah Enterprises

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.56.53
UK Pound	1	Rs.88.09
Euro	1	Rs.70.83

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	KVT

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	4
--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	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		29

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.