MIRA INFORM REPORT

Report Date :

23.05.2012

IDENTIFICATION DETAILS

Name :	FORE VISION INSTRUMENTS (INDIA) PRIVATE LIMITED
Registered Office :	18-38, 1^st Floor, Kamalanagar, Near Dilsukhnagar, Hyderabad – 500060, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.08.1997
Com. Reg. No.:	027765
Capital Investment / Paid-up Capital :	Rs.2.000 Millions
CIN No.: [Company Identification No.]	U29110AP1997PTC027765
Legal Form :	Private Limited Liability Company
Line of Business :	Distributor of Electron Force Microscopes – Hitachi Make, Atomic Force Microscopes – Park Make, Profilers – KT Make.
No. of Employees :	23 (In office 16 + In Branch 07)

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 28032
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There appears same dip in the turnover of the company. However, 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

INFORMATION PARTED BY

Name :	Mr. K. Krishna Rao
Designation :	Director – Sales
Contact No.:	91-9866130760
Date :	22.05.2012

LOCATIONS

Registered Office :	18-38, 1^st Floor, Kamalanagar, Near Dilsukhnagar, Hyderabad – 500060, Andhra Pradesh, India
Tel. No.:	91-40-24042353
Fax No.:	91-40-24042383
E-Mail :	fipl@forecision.in
Website :	www.forevision.in
Location :	Rented
Branches :	115, Selimpur Road, Kolkata – 700031, West Bengal, India
Tel. No.:	91-33-24990131
Fax No.:	91-33-24990131
Location :	Rented

SOLE PROPRIETOR/PARTNERS/DIRECTORS

AS ON 12.09.2012

Name :	Mr. Tetali Sai Kamaraju
Designation :	Managing Director
Address :	18-38, Kamalanagar, Near Dilsukhnagar, Hyderabad – 500060, Andhra Pradesh, India
Date of Birth/Age :	21.05.1959
Qualification :	M. Sc physics
Experience :	14 years
Date of Appointment :	14.08.1997

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	U29110AP1997PTC027765	FORE VISION INSTRUMENTS (INDIA) PRIVATE LIMITED	Managing director	14/08/1997	14/08/1997	-	Active	NO

Name :	Mr. Tetali Rao Hanumantha
Designation :	Director
Address :	18-38, Kamalanagar, Near Dilsukhnagar, Hyderabad – 500060, Andhra Pradesh, India
Date of Birth/Age :	06.06.1966
Qualification :	M. Tech (Comp Sc)
Date of Appointment :	15.09.1997

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	U29110AP1997PTC027765	FORE VISION INSTRUMENTS (INDIA) PRIVATE LIMITED	Director	14/08/1997	14/08/1997	-	Active	NO

Name :	Mr. Tetali Nagamani
Designation :	Director
Address :	18-38, Kamalanagar, Near Dilsukhnagar, Hyderabad 500060, Andhra Pradesh, India
Date of Birth/Age :	21.07.1936
Date of Appointment :	06.04.1997

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	U29110AP1997PTC027765	FORE VISION INSTRUMENTS (INDIA) PRIVATE LIMITED	Director	06/04/1998	06/04/1998	-	Active	NO

Name :	Mr. Gidugu Mani Kumari
Designation :	Director
Address :	12, Charles Street, Edison, Edison, New Jersy, USA, 08820NA
Date of Birth/Age :	30.03.1969
Date of Appointment :	15.09.1997

KEY EXECUTIVES

Name :	Mr. K. Krishna Rao
Designation :	Director – Sales

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 12.09.2012

Names of Shareholders	No. of Shares
Tetali Sai Kamaraju	73700
Tetali Rao Hanumantha	94700
Gidugu Mani Kumari	31600
Total	200000

AS ON 12.09.2012

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Distributor of Electron Force Microscopes – Hitachi Make, Atomic Force Microscopes – Park Make, Profilers – KT Make.
Agencies held:	· Hitachi High Technologies (S) Pte Ltd, Singapore · Oxford Instruments, United kingdom · Park Systems inc., Korea · Thermo Fisher Scientific, United States of America · SPI Supplies, United States of America · KLA Tencor, United States of America
Imports :
Products :	Electronic Microscopes
Countries :	· Japan · Singapore · Korea
Terms :
Selling :	L/C
Purchasing :	Credit (30 days)

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

23 (In office 16 + In Branch 07)

Bankers :

· Andhra Bank, 16-1027/15, Malkpet, Hyderabad – 500036, Andhra Pradesh, India

· HDFC Bank, 2-41, Chaitanya Chamber, Chaitanyapuri Gaddiannaram, Hyderabad – 500036, Andhra Pradesh, India

Facilities :

SECURED LOAN	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Andhra Bank SOD	0.093	1.969
Andhra Bank – Term Loan (SU1510)	2.000	0.000
HDFC Bank	2.207	0.000
TOTAL	4.300	1.969
UNSECURED LOAN	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Loan and Advances Received
Loan from Hitachi Singapore	1.045	0.000
A Rajya Lakshmi	0.500	0.000
A Srinivas	1.000	0.000
T Kameswari	0.670	0.000
T Nagamani	0.300	0.000
T Sai Kamaraju	0.200	0.000
V R C Murthy	1.000	0.000
TOTAL	4.715	0.000

Banking Relations :	--
Auditors :
Name :	D Swami Reddy and Company (Mr. Sreenivasulu Reddy) Chartered Accountant
Address :	404, Sandhya Enclave, Dwarakapuri Colony, Punjagutta, Hyderabad – 500082, Andhra Pradesh, India
Tel. No.:	91-40-23350229
E-Mail :	Msreddyassociates1@yahoo.in
Associates/Subsidiaries :	NA

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
200000	Equity Shares	Rs.10/- each	Rs.2.000 Millions

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		2.000	2.000	2.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		5.008	4.198	3.066
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		7.008	6.198	5.066
LOAN FUNDS
1] Secured Loans		4.300	1.969	0.486
2] Unsecured Loans		4.715	0.000	2.200
TOTAL BORROWING		9.015	1.969	2.686
DEFERRED TAX LIABILITIES		0.334	0.232	0.134
TOTAL		16.357	8.399	7.886
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.663	5.874	4.879
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.006	0.006	0.006
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	1.519	0.202	0.285
	Cash & Bank Balances	0.006	1.020	0.272
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	9.170	10.843	13.978
Total Current Assets		10.695	12.065	14.535
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.226	5.494	0.000
	Other Current Liabilities	1.142	1.440	10.633
	Provisions	1.639	2.612	0.901
Total Current Liabilities		3.007	9.546	11.534
Net Current Assets		7.688	2.519	3.001
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		16.357	8.399	7.886

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		High Sea Sales	4.104	30.706
		Commission Received	15.674	29.685
		AMC and Service Charges	4.069	1.575
		Sales	2.028	0.117
		Other Income	0.761	0.602
		TOTAL (A)	26.636	62.685
Less	EXPENSES
		Cost of Sales	0.000	27.654
		Operating and Administrative Expenses	22.547	30.897
		Working Directors Remuneration	0.840	0.780
		Marketing and Business Promotion	1.082	0.364
		TOTAL (B)	24.469	59.695
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.167	2.990
Less	FINANCIAL EXPENSES (D)		0.458	0.732
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.709	2.258
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.542	0.581
	PROFIT BEFORE TAX (E-F) (G)		1.167	1.677
Less	TAX (I)		0.357	0.545
	PROFIT AFTER TAX (G-I) (J)		0.810	1.132

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.04	1.81	NA
Net Profit Margin (PBT/Sales)	(%)	28.44	5.46	NA
Return on Total Assets (PBT/Total Assets}	(%)	6.03	9.35	NA
Return on Investment (ROI) (PBT/Networth)		0.17	0.33	NA
Debt Equity Ratio (Total Liability/Networth)		1.72	1.86	2.81
Current Ratio (Current Asset/Current Liability)		3.56	1.26	1.26

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%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
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

TRADE REFERENCES:

ORGANISATION / INSTITUTE	CONTACT PERSON
Indian Oil Corporation Limited R and, Sector – 13, Faridabad – 121007, Haryana, India	Dr. T Vincent Martin, Division of Tribology, Tel: 0129-2285340 Email: martinv@iocl.co.in
Mepco Schlenk Engineering College, Sivakasi – 626005, Virudhunagar – District, Tamilnadu, India	Dr. N Selva Kumar Department of Mechanical Engineering Tel : 04562-235641 Email: nsk2966@yahoo.co.in
Osmania University, Hyderabad – 200007	Dr. P Veeresham, Professor and Head, Department of Physics, Tel : 040-27682378
Tata Institute of Fundamental Research, Homi Bhabha Road, Colaba, Mumbai – 400005, Maharashtra	Dr. Achanta Venu Gopal Department of Condensed Matter Physics and Material Science, Tel : 022-22782910/2932
Centre for Nanoscience and Technology, Anna University, Chennai – 600025, Tamilnadu	Prof. R Jayavel Director, Tel: 044-22433403 Mobile: 09444309701 Email: rivel@annauniv.edu

FORM 8:

This form is for	Creation of charge
Charge identification number of the modified
Corporate identity number of the company	U29110AP1997PTC027765
Name of the company	FORE VISION INSTRUMENTS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	18-38,Ist Floor, Kamalanagar, Near Dilsukhnagar, Hyderabad-500 06, Andhra Pradesh, India
Type of charge	Others
Particular of charge holder	Andhra Bank
Nature of description of the instrument creating or modifying the charge	1) Composit Agreement 2) Counter Guarantee 3) Limit Sanction Letter
Date of instrument Creating the charge	24/01/2009
Amount secured by the charge	Rs.6.900 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 08.75% On SOD Terms of Repayment On Demand Margin 25% Extent and Operation of the charge First Charge
Short particulars of the property charged	1) House No.18-38, Plot No.16a, Survey No.64&65, Situated At Kamalanagar, Chaitanyapuri, Gaddiannaram Municipality, R.R. District, Belongs To Sri T. Sai Kamaraju (Managing Director). 2) House No.2-1-242, Plot No.16, Situated At Mamathanagar, Nagole, Hyderabad-68, Belonging To Sri A. Srinivas (Relative Of Managing Director)

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.54.88
UK Pound	1	Rs.86.84
Euro	1	Rs.70.20

INFORMATION DETAILS

Report Prepared by :

SDA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	4
--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		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.