MIRA INFORM REPORT

Report Date :

28.06.2012

IDENTIFICATION DETAILS

Name :	ADVANCED LIFESCIENCES PRIVATE LIMITED
Registered Office :	D – 22, Okhla Industrial Area, Phase – I, New Delhi – 110020
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.08.2006
Com. Reg. No.:	55-152691
Capital Investment/ Paid-up Capital:	Rs. 1.000 Million
CIN No.: [Company Identification No.]	U85121DL2006PTC152691
TAN No.: [Tax Deduction & Collection Account No.]	DELA21292F
PAN No.: [Permanent Account No.]	AAGCA1461L
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Life Saving Consumables and Equipment.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 31000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The company is progressing well. 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

LOCATIONS

Registered Office :	D – 22, Okhla Industrial Area, Phase – I, New Delhi – 110020, India
Tel. No.:	91-11-26812108/26371127/26812107
Mobile No.:	91- 9818237529 (Mr. Rakesh Aggarwal)
Fax No.:	91-11-26371128
E-Mail :	rajeevmago@eth.net kamal72@yahoo.com
Website :	http://www.alspl.com
Corporate Office :	M-72A, Greater Kailash, Part 2 Market, New Delhi – 110048, India

DIRECTORS

As on: 30.09.2011

Name :

Mr. Kamal Aggarwal

Designation :

Director

Address :

W-39, Greater Kailash – II, New Delhi – 110048, India

Date of Birth/Age :

15.05.1963

Date of Appointment :

29.08.2006

DIN No.:

00051739

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	U24232DL2005PTC141440	ARK LIFE SCIENCE PRIVATE LIMITED	Director	01-01-09	04-10-05	15-01-09	Active	NO
2	U85121DL2006PTC152691	ADVANCED LIFESCIENCES PRIVATE LIMITED	Director	29-08-06	29-08-06	-	Active	NO

Name :

Mr. Rakesh Aggarwal

Designation :

Director

Address :

W-39, Greater Kailash – II, New Delhi – 110048, India

Date of Birth/Age :

24.04.1965

Date of Appointment :

29.08.2006

DIN No.:

00051812

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	U74899DL1990PTC038784	VIDYUT ENGINEERING AND TECHNOLOGIES PRIVATE LIMITED	Director	01-05-04	01-05-04	-	Active	NO
2	U24232DL2005PTC141440	ARK LIFE SCIENCE PRIVATE LIMITED	Director	01-01-09	04-10-05	15-01-09	Active	NO
3	U72200DL2005PTC135131	SHAKUNTLAM INFOTECH PRIVATE LIMITED	Director	14-08-06	14-08-06	-	Active	NO
4	U85121DL2006PTC152691	ADVANCED LIFESCIENCES PRIVATE LIMITED	Director	29-08-06	29-08-06	-	Active	NO

Name :

Mr. Naresh Kumar Aggarwal

Designation :

Director

Address :

W-39, Greater Kailash – II, New Delhi – 110048, India

Date of Birth/Age :

15.12.1942

Date of Appointment :

29.08.2006

DIN No.:

01066376

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	U74899DL1980PTC010225	GOLDEN BUILDERS PRIVATE LIMITED	Director	22-02-80	22-02-80	-	Active	NO
2	U74899DL1990PTC038784	VIDYUT ENGINEERING AND TECHNOLOGIES PRIVATE LIMITED	Director	01-05-05	01-05-05	-	Active	NO
3	U85121DL2006PTC152691	ADVANCED LIFESCIENCES PRIVATE LIMITED	Director	29-08-06	29-08-06	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
Naresh Kumar Aggarwal	24000
Rakesh Aggarwal	33000
Kamal Aggarwal	33000
Archana Aggarwal	2000
Poonam Aggarwal	2000
Maya Devi Aggarwal	6000
Total	100000

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 Life Saving Consumables and Equipment.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• HDFC Bank
• Vijaya Bank, New Delhi, India

Facilities :

(Rs. In Millions)

Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Directors (Interest Free)
Kamal Aggarwal	20.790	13.290
Rakesh Aggarwal	14.900	8.200
Naresh Kumar Aggarwal	4.900	4.600
From Shareholders/Relatives(Interest Free)
Archana Aggarwal	0.700	0.700
Maya Aggarwal	0.100	0.100
Total	41.390	26.890

Banking Relations :	--
Auditors :
Name :	Rajeev Mago and Associates Chartered Accountants
Address :	G-82, Ground Floor, Lajpat Nagar – II, New Delhi – 110024, India
Tel. No.:	91-11-65633119
Mobile No.:	91-9810288813
Fax No.:	91-11-29810507
E-mail :	rajeevmago@eth.net mago.anita@gmail.com
PAN No.:	AADPM6570E

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 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		1.000	1.000	1.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		6.813	2.214	0.089
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		7.813	3.214	1.089
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		41.390	26.890	21.990
TOTAL BORROWING		41.390	26.890	21.990
DEFERRED TAX LIABILITIES		0.000	0.000	0.001
TOTAL		49.203	30.104	23.080
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		14.380	11.022	9.842
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	22.481	11.991	12.386
	Sundry Debtors	18.965	9.701	6.859
	Cash & Bank Balances	4.120	0.976	0.537
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.350	2.330	0.456
Total Current Assets		48.916	24.998	20.238
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	3.669	4.040	6.477
	Other Current Liabilities	0.327	0.887	0.488
	Provisions	10.115	1.028	0.095
Total Current Liabilities		14.111	5.955	7.060
Net Current Assets		34.805	19.043	13.178
MISCELLANEOUS EXPENSES		0.018	0.039	0.060
TOTAL		49.203	30.104	23.080

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	64.786	45.738	14.745
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	58.009	42.569	14.472
	PROFIT BEFORE TAX		6.777	3.169	0.273
Less	TAX		2.178	1.044	0.097
	PROFIT AFTER TAX		4.599	2.125	0.176
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.214	0.089	(0.087)
	BALANCE CARRIED TO THE B/S		6.813	2.214	0.089
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.636	NA	NA
	TOTAL EARNINGS		0.636	NA	NA
	IMPORTS
		Finished Goods	31.284	18.012	10.377
	TOTAL IMPORTS		31.284	18.012	10.377
	Earnings Per Share (Rs.)		46	21	2

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	7.10	4.64	1.19
Return on Total Assets (PBT/Total Assets}	(%)	10.71	8.79	0.90
Return on Investment (ROI) (PBT/Networth)		0.87	0.98	0.25
Debt Equity Ratio (Total Liability/Networth)		7.10	10.22	26.67
Current Ratio (Current Asset/Current Liability)		3.47	4.19	2.86

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	Yes
Type of Business	No
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	-
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

Note :

The registered office address has been shifted from M-72A, Greater Kailash, Part 2 Market, New Delhi – 110 048, India to the present address w.e.f. 06.03.2007.

FIXED ASSETS:

• Plant and Machinery (Clean Room)
• Electrical Installation and Fittings (Clean Room)
• ETO Sterilizer (Clean Room)
• SS Tables (Clean Room)
• Air Conditioning Equipment
• Generator
• Office Equipment
• Furniture Fixtures and Fittings
• Computer
• Mobile Phone
• Scanner HP 2410
• Water Purifier

AS PER WEBSITE DETAILS:

PROFILE

SURGIMED was started by Mr. Kamal Aggarwal with his brother Mr. Rakesh Aggarwal under the supervision of their father Mr. Naresh Aggarwal in 1986 with the aim of introducing and promoting new and proven established technologies/treatments in the medical field to bring them to the common man at their doorstep in India who could not afford to travel and had no access to the latest treatments available worldwide. They have very successfully introduced and brought new technologies from various worldwide foreign manufacturers for the better and successful treatment of the Indian patients in India and have many firsts to there credit. Some of these are as follows:-

Introduced first VALVULOPLASTY PROCEDURE in the country in 1987 from MANSFIELD, MEDITECH, MICROVASIVE, U.S.A (now BOSTON SCILENTIFIC CORPORATION).

Introduced first CORONARY ANGIOPLASTY PROCEDURE in the year 1988-89 fromSCHNIEDER and SCIMED (both now BOSTON SCIENTIFIC CORPORATION).

Introduced first DHS SYSTEM in the country from RICHARDS INTERNATIONAL, U.S.A. in 1988 and subsequently first Interlocking nails from the same company.

Introduced Wire Braided Thoracic Cannulas for Open Heart Surgery for the first time in the country in the year 1988-89 from RMI. USA and also the first Retrograde Cardiolpegia cannula from the same company.

Introduced first ATHRECTOMY PROCEDURE in 1989-90 from DVI / GUIDANT.

Introduced first Cementless hip and knee system in 1992-93 from Richards/ Osteo USA/ Switzerland.

Introduced first CORONARY STENT in the year 1993 – 94 from J and J and then AVE (now MEDTRONICS).

Introduced first THROMBECTOMY DEVICE in the year 1998 from ENDICOR (now EV3)

Introduced first AMPLATZER DEVICE in the year 1998 from AGA MEDICAL, U.S.A.

Introduced first Coated Stent in the country in the year 1998 from Biocompatibles UK (now Abbott Medical).

Introduced first Covered Stent in the year 2000 from Jomed Sweden (now Abbott Medical).

Introduced first Graft Patency system in the year 2002 from Meditim Norway.

Besides these have represented and marketed many more innovative and High Tech products successfully for various other manufacturers including Biotronik, Germany, UMI Inc. USA, St. Jude Medical USA, Gish Biomedical USA, MEDCOMP USA, Lifecare International USA and many others in the field of Cardiology, Vascular Surgery, Interventional Radiology, Neuro Radiology, Orthopedics, Nephrology and Oncology etc.

Surgimed has always been at the front of identifying and introducing new and effective treatment for the benefit of mankind and continue to do so by representing highly reputable and well established manufacturers of medical devices such as AGA Medical, USA., NuMED Inc., USA and Canada, Vascular Solutions Inc., USA., HemCon Technologies, USA., STRAUB Medical, Switzerland, MEDISTIM, Norway, BALT, France, Baylis Medical, Canada, Biocompatibles UK, etc.

Besides these they have been instrumental in introducing lot of new pharmaceuticals in the field of Oncology/Chemotherapy, Cardiology and General Medicine for more effective treatment of patients by representing and marketing products from various well known foreign manufacturers and continue to do so by representing companies like Eli Lilly and Schering Plough.

As part of there vision to bring advanced health care at affordable prices to the doorstep of the patient they are now moving towards establishing state of the art facility to produce, assemble, package and sterilize some of these high grade medical devices in India through there sister concern Subject

They have a well-established sales and marketing set up that operates out of there head office in Delhi, branch offices in Mumbai, Kolkata, Pune and Chennai with local resident representatives in some cities such as Bangalore, Hyderabad, Chandigarh, Lucknow etc, and sub-distributor networks in other parts of India. The highly qualified sales and marketing staff is well trained and experienced. Besides these they have been operating in neighboring countries of Sri Lanka, Bangladesh and Nepal where again they have very good and established business.

They enjoy a very good and cordial relationship with all there customers who can confirm for there products and services as they continue to strive for excellence in there efforts constantly following there vision....

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.57.22
UK Pound	1	Rs.89.42
Euro	1	Rs.71.46

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.