MIRA INFORM REPORT

Report Date :

16.05.2012

IDENTIFICATION DETAILS

Name :	MARKS MARKETING PRIVATE LIMITED
Registered Office :	G-10, Hemkunt Chamber, 89, Nehru Place, New Delhi-110019
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	25.05.1990
Com. Reg. No.:	55-040275
Capital Investment / Paid-up Capital :	Rs.0.671 Million
CIN No.: [Company Identification No.]	U74899DL1990PTC040275
TAN No.: [Tax Deduction & Collection Account No.]	DELM04495B
PAN No.: [Permanent Account No.]	AAACM6577F
Legal Form :	Private Limited Liability Company
Line of Business :	Distributors of Welch Allyn Core Products.
No. of Employees :	Not Available

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 19000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be 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

LOCATIONS

Registered Office :	G-10, Hemkunt Chamber, 89, Nehru Place, New Delhi-110019, India
Tel. No.:	91-11-41617617/26225474/26225475
Fax No.:	91-11-26442350
E-Mail :	rjain1008@hotmail.com rj@marksmarketing.in vishalrice@hotmail.com
Website :	http://www.marksmarketing.in

DIRECTORS

As on 29.09.2011

Name :

Mr. Ramesh Jain

Designation :

Director

Address :

7/9 A, Ansari Road, Darya Ganj, New Delhi-110002, India

Date of Birth/Age :

10.12.1961

Date of Appointment :

25.05.1990

Din No.:

00541535

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1990PTC040275	MARKS MARKETING PRIVATE LIMITED	Director	25-05-90	25-05-90	-	Active	NO
2	U72900DL2002PTC115148	HALCYON RESEARCH AND ANALYTICS INDIA PRIVATE LIMITED	Director	21-08-02	21-08-02	-	Active	NO
3	U73100DL2004PTC127658	PIPAL RESEARCH ANALYTICS AND INFORMATION SERVICES INDIA PRIVATE LIMITED	Director	16-07-04	16-07-04	03-12-10	Active	NO
4	U74899DL1998PLC094663	MODERN INDEXPO LIMITED	Director	10-08-06	10-08-06	14-05-08	Active	NO

Name :

Benu Jain

Designation :

Director

Address :

7/9 A, Ansari Road, Darya Ganj, New Delhi-110002, India

Date of Birth/Age :

08.03.1962

Date of Appointment :

25.05.1990

Din No.:

00541484

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL1990PTC040275	MARKS MARKETING PRIVATE LIMITED	Director	25-05-90	25-05-90	Active	NO
2	U74899DL1978PTC009043	L.SHIVA INTERNATIONAL PRIVATE LIMITED	Director	15-12-11	15-12-11	Active	NO
3	U72900DL2002PTC115148	HALCYON RESEARCH AND ANALYTICS INDIA PRIVATE LIMITED	Director	24-03-12	24-03-12	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Ramesh Jain	25
Benu Jain	67025
Total	67050

As on 29.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Distributors of Welch Allyn Core Products.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

The Bank of Rajasthan Limited, E-17, 1^st Floor, South Extension, Part-II, New Delhi-110049, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
The Bank of Rajasthan Limited [Secured on the hypothecation of stocks, debtors and equity mortgage of property]	14.305	8.011
Total	14.305	8.011
Unsecured Loan
From Directors	0.000	0.000
From Others	15.619	13.568
Total	15.619	13.568

Banking Relations :	--
Auditors :
Name :	ANM and Associates Chartered Accountants
Address :	31, Todarmal Lane, Bengali Market, New Delhi-110001, India
Pan No.:	AAKFA0060E

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
67050	Equity Shares	Rs.10/- each	Rs.0.671 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		0.671	0.671	0.671
2] Share Application Money		1.700	1.700	1.700
3] Reserves & Surplus		2.530	2.075	1.163
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.901	4.446	3.534
LOAN FUNDS
1] Secured Loans		14.305	8.011	15.487
2] Unsecured Loans		15.619	13.568	2.915
TOTAL BORROWING		29.924	21.579	18.402
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		34.825	26.025	21.936
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.760	0.897	1.065
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		23.817	15.443	0.443
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.281	8.099	17.700
	Sundry Debtors	15.339	2.605	12.918
	Cash & Bank Balances	3.512	1.759	0.780
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	7.620	2.750	2.798
Total Current Assets		33.752	15.213	34.196
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	22.619	4.819	13.474
	Other Current Liabilities	0.688	0.567	0.268
	Provisions	0.197	0.142	0.026
Total Current Liabilities		23.504	5.528	13.768
Net Current Assets		10.248	9.685	20.428
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		34.825	26.025	21.936

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	162.010	144.075	131.797
		Other Income	0.592	0.465	0.000
		TOTAL	162.602	144.540	131.797
Less	EXPENSES
		Cost of Goods Sold	122.015	110.885	96.558
		Direct Expenses	34.162	28.058	30.457
		Administrative and General Expenses	5.635	4.375	5.447
		TOTAL	161.812	143.318	132.462
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.790	1.222	(0.665)
Less/ Add	DEPRECIATION/ AMORTISATION		0.138	0.168	0.140
	PROFIT / (LOSS) BEFORE TAX		0.652	1.054	(0.805)
Less	TAX		0.198	0.142	0.027
	PROFIT / (LOSS) AFTER TAX		0.454	0.912	(0.832)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.075	1.163	NA
	BALANCE CARRIED TO THE B/S		2.529	2.075	NA
	Earnings / (Loss) Per Share (Rs.)		37.73	54.42	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.27	0.63	(0.63)
Net Profit Margin (PBT/Sales)	(%)	0.40	0.73	(0.61)
Return on Total Assets (PBT/Total Assets}	(%)	1.89	6.54	(2.28)
Return on Investment (ROI) (PBT/Networth)		0.13	0.23	(0.23)
Debt Equity Ratio (Total Liability/Networth)		10.90	6.10	9.10
Current Ratio (Current Asset/Current Liability)		1.44	2.75	2.48

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 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

NOTE:

The registered office of the company has been shifted from 7/9, Aansari Road, Daya Ganj, New Delhi-110002, India to the present address w.e.f. 15.10.2008.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	90061497
Corporate identity number of the company	U74899DL1990PTC040275
Name of the company	MARKS MARKETING PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	7/9, Aansari Road, Daya Ganj, New Delhi-110002, India
Type of charge	Book Debts Movable Property [not being pledge] Immovable Property Others
Particular of charge holder	The Bank of Rajasthan Limited, E-17, 1^st Floor, South Extension, Part-II, New Delhi-110049, India
Email	se@rajbank.com
Nature of description of the instrument creating or modifying the charge	(i) Overdraft Facility Agreement (ii) General Letter of hypothecation for inland / foreign Bills for purchase and for advances against Bills in the course of collection
Date of instrument Creating the charge	27.01.2007
Amount secured by the charge	Rs.15.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 0.50% above Bank's Prime Lending Rate, present minimum - 14% p.a. at monthly rests, and subject to change as per instructions issued from the Bank from time to time. Terms of Repayment Payable on demand. Account to be reviewed within one year. Margin Cash Margin against LC - 25%, Margin against value of immovable property mortgaged by the directors - 30% Extent and Operation of the charge Full and continuous operation. Others Prime security provided by way of equitable mortgage of self-occupied property admeasuring 237.18 sq. mtrs. at plot no. 1, Road K-3, DLF Qutab Enclave Complex Phase-II, Gurgaon (Haryana) owned by Sh. Ramesh Jain and Smt. Benu Jain, having present market value of Rs. 22.532 millions as per the approved valuer's report dated 25/11/06.
Short particulars of the property charged	(i)All tangible movable property such as stock-in-trade and goods of the borrower which now or hereinafter from time to time during this security shall be brought-in, stored or be in or about the premises/godown of the borrower at Delhi or anywhere else comprising computer hardware, cloths and medical equip. etc. (ii)All present and future book debts, o/s moneys, decrees, receivables, claims and bills etc. and other receivables which are now due and owing and which may be owing and due in future.
Date of latest modification prior to the present modification	21.02.2005
Particulars of the present modification	Credit facility enhanced from Rs. 5.000 millions [consisting of Cash Credit limit of Rs. 1.500 millions and LC (DA-DP / Inland-Import) limit of Rs. 3.500 millions] to Rs. 15.500 millions by conversion of Cash Credit limit into Suvidha OD limit, with a sub-limit of LC (DA-DP/Inland-Import) of Rs. 3.500 millions. Rate of Interest per annum changed from 0.75% above BPLR to 0.50% above BPLR, at monthly rests.

FIXED ASSETS:

· Furniture

· Air Conditioner

· Cellular Phone

· Generator

· Inventor

· Motor Car

· Motor Cycle

· Paper Copier

· Computer

WEBSITE DETAILS:

PROFILE:

Subject is the Exclusive Indian Distributor of Welch Allyn Core Products, offering an advanced range of Welch Allyn Products through an exclusive independent sub- distributor network. Welch Allyn is the established global leader in Ophthalmic, ENT instruments and a leading global player in Patient Monitoring Systems, Headlights and Colposcope.

Subject is committed to providing these esteemed Welch Allyn Products to our customers. They stand behind their products to assure the satisfaction. They back up what we sell with a service satisfaction warranty to their end user customers. They focus entirely on helping frontline practitioners work more effectively and efficiently.

Subject is a Private Limited company in business since 1991 and is presently the oldest distributor for Welch Allyn in the whole of India. The company is run by professionals and is engaged in import and distributors of computers, computer parts, its accessories and peripherals, medical diagnostic equipments and textiles.

The company is known for its equipment of assured quality and customer support at all times. As exclusive and oldest distributors of Welch Allyn, the company will recognize and extend the best possible assured service. The prices offered will also be the best as if is the direct import and with the highest volume.

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.53.84
UK Pound	1	Rs.86.72
Euro	1	Rs.69.17

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	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		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.